JHMUvsJCALETF Comparison
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John Hancock Dynamic Municipal Bond ETF (JHMU) and JPMorgan California Tax Free Bond ETF (JCAL) belong to the same industry segment: Municipal Bonds. JHMU's top 1 sector exposures are Municipal. In contrast, JCAL's top sector exposures are Municipal and Sovereign. JHMU is more expensive with a Total Expense Ratio (TER) of 1.01%, versus 0.44% for JCAL. Run a side-by-side ETF comparison of JHMU 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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JHMU vs JCAL performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | JHMU JCAL | -0.23%-0.29% | -3.06%-3.05% | -1.62%n/a | -0.96%n/a | n/an/a | n/an/a |
| Flows | JHMU JCAL | +$50M+$19M | +$51M+$19M | +$54M- | +$63M- | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | JHMU JCAL | +4.89%+4.53% | +3.11%n/a | n/an/a | n/an/a |
| Max drawdown | JHMU JCAL | -5.48%-5.18% | -6.15%n/a | n/an/a | n/an/a |
| Max drawdown duration | JHMU JCAL | 92d92d | 102dn/a | n/an/a | n/an/a |
Trading data
JHMU | JCAL | |
Last sale 10/16/2026 at 1:30 PM | $25.10 | $47.91 |
| Previous close 10/15/2026 | $25.07 | $47.90 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
JHMU | JCAL | |
|---|---|---|
| Last price | $25.10 | $47.91 |
| 1D performance | +0.13% | +0.02% |
| AuM | $93.43 M | $507.02 M |
| E/R | 1.01% | 0.44% |
Characteristics
JHMU | JCAL | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | John Hancock Investments | J.P. Morgan Asset Management |
| Benchmark | - | - |
| N° of holdings | 46 | 106 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 31, 2023 | June 12, 2026 |
| ESG | No | No |
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Exposure
Countries
JHMU
USA
39.44%
Other
60.56%
JCAL
USA
37.65%
Other
62.35%
Sectors
JHMU
Municipal
39.44%
Other
60.56%
JCAL
Municipal
36.62%
Other
63.38%
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Diversification
JHMU
Total weight of top 15 holdings out of 15
16.67%
JCAL
Total weight of top 15 holdings out of 15
16.11%
Top 15 holdings
Data as of August 31, 2026
JHMU
US735389P517
1.73%
Black Belt Energy Gas District, 5% 1dec2034, USD (2026)
1.71%
US34061UEX28
1.66%
Indiana Finance Authority, 3% 1nov2030, USD (2010A)
1.61%
US64579RDU86
0.92%
Connecticut Health and Educational Facilities Authority, 5% 1jul2036, USD
0.91%
Utility Debt Securitization Authority, 5% 15dec2041, USD (2025TE-2)
0.91%
US7436003H96
0.91%
US45130ABK07
0.90%
Maricopa Industrial Development Authority, 5% 1jan2038, USD (2026D)
0.90%
US57421CLQ59
0.90%
US79467BKC80
0.90%
US79467BKA25
0.90%
US091096PZ48
0.90%
US795576LT29
0.90%
JCAL
US072024ZH86
2.06%
US072024C758
1.77%
US568087BK56
1.12%
California Community Choice Financing Authority, 5% 1feb2055, USD (2024D)
1.10%
US13063EGP51
1.03%
US91412HTJ22
1.03%
California, FRN 1may2033, USD (2003A-1)
1.03%
USA, Bills 0% 10sep2026, USD (182D)
1.03%
US13032U7S16
0.99%
California Infrastructure and Economic Development Bank, 5% 1nov2029, USD (2024)
0.96%
US13013JHG40
0.83%
Black Belt Energy Gas District, 5% 1dec2034, USD (2026)
0.80%
US13034A3Y44
0.79%
Alvord Unified School District, 0% 1aug2036, USD (2011B, 9179D)
0.79%
Sacramento Municipal Utility District, 5% 15aug2049, USD (2023)
0.78%
Frequently asked questions about JHMU and JCAL
Which ETF is bigger: JHMU or JCAL?
As of October 16, 2026, JHMU holds $93.43 M in assets under management (AUM), while JCAL manages $507.02 M.
What sectors do the JHMU and JCAL ETFs invest in?
JHMU leans toward sectors like Municipal. Meanwhile, JCAL focuses on Municipal.
What are the top holdings of the JHMU ETF and JCAL ETF?
JHMU top holdings include US735389P517, Black Belt Energy Gas District, 5% 1dec2034, USD (2026) and US34061UEX28. JCAL holds in its top three: US072024ZH86, US072024C758 and US568087BK56.
Which ETF is more diversified: JHMU or JCAL?
JHMU holds 116 securities with 16.67% of its assets in the top 15. JCAL has 306 securities and a top 15 weight of 16.11%.
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