IROCvsJCALETF Comparison
VS
Invesco Rochester High Yield Municipal ETF (IROC) belongs to the US Aggregate Bonds segment. JPMorgan California Tax Free Bond ETF (JCAL) is part of the Municipal Bonds segment. IROC's top 1 sector exposures are Municipal. In contrast, JCAL's top sector exposures are Municipal and Sovereign. IROC is less expensive with a Total Expense Ratio (TER) of 0.4%, versus 0.44% for JCAL. Run a side-by-side ETF comparison of IROC and JCAL below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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IROC vs JCAL performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/08/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | IROC JCAL | -1.59%-1.17% | -1.88%n/a | -0.76%n/a | +1.64%n/a | +11.99%n/a | n/an/a |
| Flows | IROC JCAL | +$10M-$6K | +$38M- | +$56M- | +$131M- | +$131M- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | IROC JCAL | +2.84%n/a | +2.47%n/a | +3.30%n/a | n/an/a |
| Max drawdown | IROC JCAL | -2.92%n/a | -2.92%n/a | -4.12%n/a | n/an/a |
| Max drawdown duration | IROC JCAL | 64dn/a | 64dn/a | 188dn/a | n/an/a |
Trading data
IROC | JCAL | |
Last sale 9/9/2026 at 1:30 PM | $49.51 | $48.45 |
| Previous close 09/08/2026 | $49.64 | $48.60 |
| Consolidated volume 09/08/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/9/2026 at 1:30 PM
Live
Closed
IROC | JCAL | |
|---|---|---|
| Last price | $49.51 | $48.45 |
| 1D performance | -0.26% | -0.31% |
| AuM | $159.02 M | $497.06 M |
| E/R | 0.4% | 0.44% |
Characteristics
IROC | JCAL | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Invesco | J.P. Morgan Asset Management |
| Benchmark | - | - |
| N° of holdings | 64 | 116 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 12, 2022 | June 12, 2026 |
| ESG | No | No |
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Exposure
Countries
IROC
USA
40.34%
Other
59.66%
JCAL
USA
41.08%
Other
58.92%
Sectors
IROC
Municipal
40.34%
Other
59.66%
JCAL
Municipal
39.38%
Other
60.62%
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Diversification
IROC
Total weight of top 15 holdings out of 15
18.68%
JCAL
Total weight of top 15 holdings out of 15
15.2%
Top 15 holdings
Data as of July 31, 2026
IROC
US121342PQ61
1.53%
US647370EK77
1.53%
Washington Suburban Sanitary District, FRN 1jun2027, USD
1.53%
US20775DTU62
1.53%
Black Belt Energy Gas District, 5% 1nov2036, USD (2026)
1.19%
US20775DU831
1.16%
US83704HAM97
1.16%
Central Plains Energy Gas Project, 5% 1sep2042, USD (2017A)
1.16%
Lake Retirement Facility, 5.75% 15aug2055, USD (2020A)
1.15%
US63608TBQ22
1.15%
Bucks Industrial Development Authority, 5% 1jul2054, USD (2021)
1.13%
Massachusetts Development Finance Agency, 5.375% 1jul2061, USD (2026A)
1.12%
US13059TFH77
1.11%
Massachusetts Development Finance Agency, 5% 1jan2047, USD
1.11%
US928097AA20
1.11%
JCAL
US072024C758
1.74%
USA, Bills 0% 11aug2026, USD (119D)
1.70%
US91412HYH01
1.13%
US568087BK56
1.10%
California Community Choice Financing Authority, 5% 1feb2055, USD (2024D)
1.09%
California, 4% 1oct2041, USD
1.01%
US13063EGP51
1.01%
California Infrastructure and Economic Development Bank, 5% 1nov2029, USD (2024)
0.94%
US13013JHG40
0.82%
US09182TEN37
0.79%
Black Belt Energy Gas District, 5% 1dec2034, USD (2026)
0.78%
US13034A3Y44
0.78%
Alvord Unified School District, 0% 1aug2036, USD (2011B, 9179D)
0.78%
Sacramento Municipal Utility District, 5% 15aug2049, USD (2023)
0.77%
Desert Community College District, 4% 1aug2051, USD (2016)
0.76%
Frequently asked questions about IROC and JCAL
Which ETF is bigger: IROC or JCAL?
As of September 8, 2026, IROC holds $159.02 M in assets under management (AUM), while JCAL manages $497.06 M.
What sectors do the IROC and JCAL ETFs invest in?
IROC leans toward sectors like Municipal. Meanwhile, JCAL focuses on Municipal.
What are the top holdings of the IROC ETF and JCAL ETF?
IROC top holdings include US121342PQ61, US647370EK77 and Washington Suburban Sanitary District, FRN 1jun2027, USD. JCAL holds in its top three: US072024C758, USA, Bills 0% 11aug2026, USD (119D) and US91412HYH01.
Which ETF is more diversified: IROC or JCAL?
IROC holds 155 securities with 18.68% of its assets in the top 15. JCAL has 313 securities and a top 15 weight of 15.2%.
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