JCALvsJHMUETF Comparison
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JPMorgan California Tax Free Bond ETF (JCAL) and John Hancock Dynamic Municipal Bond ETF (JHMU) belong to the same industry segment: Municipal Bonds. JCAL's top 2 sector exposures are Municipal and Sovereign. In contrast, JHMU's top sector exposures are Municipal. JCAL is less expensive with a Total Expense Ratio (TER) of 0.44%, versus 1.01% for JHMU. Run a side-by-side ETF comparison of JCAL and JHMU 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 JHMU performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/18/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | JCAL JHMU | -2.02%-2.15% | -3.07%-3.22% | n/a-1.42% | n/a-0.15% | n/an/a | n/an/a |
| Flows | JCAL JHMU | +$2M+$631K | +$8M+$1M | -+$5M | -+$15M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | JCAL JHMU | +2.84%+3.14% | n/a+2.46% | n/an/a | n/an/a |
| Max drawdown | JCAL JHMU | -3.37%-3.56% | n/a-3.56% | n/an/a | n/an/a |
| Max drawdown duration | JCAL JHMU | 80d74d | n/a74d | n/an/a | n/an/a |
Trading data
JCAL | JHMU | |
Last sale 9/21/2026 at 1:30 PM | $48.26 | $25.22 |
| Previous close 09/18/2026 | $48.15 | $25.23 |
| Consolidated volume 09/18/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/21/2026 at 1:30 PM
Live
Closed
JCAL | JHMU | |
|---|---|---|
| Last price | $48.26 | $25.22 |
| 1D performance | +0.23% | -0.03% |
| AuM | $490.81 M | $43.49 M |
| E/R | 0.44% | 1.01% |
Characteristics
JCAL | JHMU | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | J.P. Morgan Asset Management | John Hancock Investments |
| Benchmark | - | - |
| N° of holdings | 116 | 47 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 12, 2026 | October 31, 2023 |
| ESG | No | No |
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Exposure
Countries
JCAL
USA
41.08%
Other
58.92%
JHMU
USA
40.97%
Other
59.03%
Sectors
JCAL
Municipal
39.38%
Other
60.62%
JHMU
Municipal
40.97%
Other
59.03%
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Diversification
JCAL
Total weight of top 15 holdings out of 15
15.2%
JHMU
Total weight of top 15 holdings out of 15
16.91%
Top 15 holdings
Data as of July 31, 2026
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%
JHMU
US735389P517
1.76%
Black Belt Energy Gas District, 5% 1dec2034, USD (2026)
1.72%
US34061UEX28
1.69%
Indiana Finance Authority, 3% 1nov2030, USD (2010A)
1.62%
US64579RDU86
0.94%
US57421CLQ59
0.94%
Utility Debt Securitization Authority, 5% 15dec2041, USD (2025TE-2)
0.93%
Connecticut Health and Educational Facilities Authority, 5% 1jul2036, USD
0.92%
US7436003H96
0.92%
US45130ABK07
0.92%
US79467BKC80
0.91%
US79467BKA25
0.91%
US407081AV02
0.91%
US091096PZ48
0.91%
Maricopa Industrial Development Authority, 5% 1jan2038, USD (2026D)
0.91%
Frequently asked questions about JCAL and JHMU
Which ETF is bigger: JCAL or JHMU?
As of September 18, 2026, JCAL holds $490.81 M in assets under management (AUM), while JHMU manages $43.49 M.
What sectors do the JCAL and JHMU ETFs invest in?
JCAL leans toward sectors like Municipal. Meanwhile, JHMU focuses on Municipal.
What are the top holdings of the JCAL ETF and JHMU ETF?
JCAL top holdings include US072024C758, USA, Bills 0% 11aug2026, USD (119D) and US91412HYH01. JHMU holds in its top three: US735389P517, Black Belt Energy Gas District, 5% 1dec2034, USD (2026) and US34061UEX28.
Which ETF is more diversified: JCAL or JHMU?
JCAL holds 313 securities with 15.2% of its assets in the top 15. JHMU has 114 securities and a top 15 weight of 16.91%.
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