JCALvsFTMUETF Comparison
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JPMorgan California Tax Free Bond ETF (JCAL) and Franklin Municipal Income ETF (FTMU) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. JCAL is more expensive with a Total Expense Ratio (TER) of 0.44%, versus 0.3% for FTMU. Run a side-by-side ETF comparison of JCAL and FTMU 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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JCAL vs FTMU performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 11/03/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | JCAL FTMU | +3.06%+3.17% | -0.31%-2.33% | n/a-2.87% | n/a-2.80% | n/an/a | n/an/a |
| Flows | JCAL FTMU | -$3M+$29M | +$14M+$39M | -+$36M | -+$25M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | JCAL FTMU | +4.65%+6.43% | n/a+4.20% | n/an/a | n/an/a |
| Max drawdown | JCAL FTMU | -5.04%-7.04% | n/a-9.03% | n/an/a | n/an/a |
| Max drawdown duration | JCAL FTMU | 82d82d | n/a247d | n/an/a | n/an/a |
Trading data
JCAL | FTMU | |
Last sale 11/4/2026 at 2:30 PM | $48.77 | $7.58 |
| Previous close 11/03/2026 | $48.55 | $7.54 |
| Consolidated volume 11/03/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 11/4/2026 at 2:30 PM
Live
Closed
JCAL | FTMU | |
|---|---|---|
| Last price | $48.77 | $7.58 |
| 1D performance | +0.45% | +0.53% |
| AuM | $510.08 M | $492.09 M |
| E/R | 0.44% | 0.3% |
Characteristics
JCAL | FTMU | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | J.P. Morgan Asset Management | Franklin Templeton |
| Benchmark | - | - |
| N° of holdings | 112 | 78 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 12, 2026 | October 24, 2025 |
| ESG | No | No |
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Exposure
Countries
JCAL
USA
40.33%
Other
59.67%
FTMU
USA
38.96%
Other
61.04%
Sectors
JCAL
Municipal
40.33%
Other
59.67%
FTMU
Municipal
38.96%
Other
61.04%
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Diversification
JCAL
Total weight of top 15 holdings out of 15
16.28%
FTMU
Total weight of top 15 holdings out of 15
18.96%
Top 15 holdings
Data as of September 30, 2026
JCAL
US072024ZH86
2.13%
US072024C758
1.83%
California Community Choice Financing Authority, 5% 1feb2055, USD (2024D)
1.09%
US13063EGP51
1.07%
California, FRN 1may2033, USD (2003A-1)
1.07%
US568087BK56
1.06%
County of Santa Clara, 4% 1aug2038, USD
0.99%
US13032U7S16
0.98%
California Infrastructure and Economic Development Bank, 5% 1nov2029, USD (2024)
0.97%
North Orange Community College District, 4% 1aug2044, USD
0.94%
US13032UX453
0.92%
California Community Choice Financing Authority, 5% 1dec2035, USD (2025G)
0.83%
US13034A3Y44
0.82%
Black Belt Energy Gas District, 5% 1dec2034, USD (2026)
0.80%
Sacramento Municipal Utility District, 5% 15aug2049, USD (2023)
0.78%
FTMU
New York Urban Development Corp., 5% 15mar2044, USD (2023A)
2.35%
Metropolitan Washington Airports Authority, 0% 1oct2037, USD (2010A, 9989D)
1.44%
Port of Houston Authority, 5% 1oct2048, USD (2023)
1.35%
Triborough Bridge and Tunnel Authority, 5.25% 15may2057, USD (2022A)
1.33%
US31350ACS50
1.27%
South Carolina Jobs-Economic Development Authority, 5.5% 1nov2054, USD (2024A)
1.20%
US25476FA408
1.19%
Black Belt Energy Gas District, 5% 1oct2035, USD (2025)
1.19%
US709224DV89
1.15%
New York Thruway Authority, 5% 15mar2054, USD (2022C)
1.14%
US97712D8M13
1.13%
Kentucky Public Energy Authority, 5% 1jun2034, USD (2026)
1.12%
US240471PF32
1.09%
US6446147E39
1.04%
Tobacco Settlement Financing Corp. (NJ), 5% 1jun2036, USD (2018A)
0.97%
Frequently asked questions about JCAL and FTMU
Which ETF is bigger: JCAL or FTMU?
As of November 3, 2026, JCAL holds $510.08 M in assets under management (AUM), while FTMU manages $492.09 M.
What sectors do the JCAL and FTMU ETFs invest in?
JCAL leans toward sectors like Municipal. Meanwhile, FTMU focuses on Municipal.
What are the top holdings of the JCAL ETF and FTMU ETF?
JCAL top holdings include US072024ZH86, US072024C758 and California Community Choice Financing Authority, 5% 1feb2055, USD (2024D). FTMU holds in its top three: New York Urban Development Corp., 5% 15mar2044, USD (2023A), Metropolitan Washington Airports Authority, 0% 1oct2037, USD (2010A, 9989D) and Port of Houston Authority, 5% 1oct2048, USD (2023).
Which ETF is more diversified: JCAL or FTMU?
JCAL holds 307 securities with 16.28% of its assets in the top 15. FTMU has 262 securities and a top 15 weight of 18.96%.
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