MBNDvsJMSTETF Comparison
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State Street SPDR Nuveen Municipal Bond ETF (MBND) and JPMorgan Ultra-Short Municipal Income ETF (JMST) belong to the same industry segment: Municipal Bonds. MBND's top 1 sector exposures are Municipal. In contrast, JMST's top sector exposures are Municipal and Sovereign. MBND is more expensive with a Total Expense Ratio (TER) of 0.4%, versus 0.18% for JMST. MBND is down -0.68% year-to-date (YTD) with - in YTD flows. JMST performs better with 1.46% YTD performance, and +$984M in YTD flows. Run a side-by-side ETF comparison of MBND and JMST 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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MBND vs JMST performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MBND JMST | -0.45%+0.20% | -1.39%+0.52% | -0.68%+1.46% | +2.75%+2.34% | +10.21%+9.98% | +0.73%+12.26% |
| Flows | MBND JMST | -+$244M | -+$961M | -+$984M | -$1M+$2.98B | -$16M+$4.78B | -$15M+$5.28B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MBND JMST | +2.31%+0.34% | +2.24%+0.33% | +3.52%+0.40% | +3.35%+0.43% |
| Max drawdown | MBND JMST | -1.98%-0.11% | -2.53%-0.15% | -5.17%-0.46% | -13.56%-0.93% |
| Max drawdown duration | MBND JMST | 57d11d | 184d21d | 190d29d | 1456d435d |
Trading data
MBND | JMST | |
Last sale 9/2/2026 at 1:30 PM | $26.58 | |
| Previous close 09/01/2026 | $26.56 | |
| Consolidated volume 09/01/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/2/2026 at 1:30 PM
Live
Closed
MBND | JMST | |
|---|---|---|
| Last price | $26.58 | – |
| 1D performance | +0.08% | – |
| AuM | $26.72 M | $7.35 B |
| E/R | 0.4% | 0.18% |
Characteristics
MBND | JMST | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | State Street Investment Management | J.P. Morgan Asset Management |
| Benchmark | - | - |
| N° of holdings | 23 | 523 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | February 4, 2021 | October 16, 2018 |
| ESG | No | No |
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Exposure
Countries
MBND
USA
28.34%
Other
71.66%
JMST
USA
27.09%
Other
72.91%
Sectors
MBND
Municipal
28.34%
Other
71.66%
JMST
Municipal
24.94%
Other
75.06%
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Diversification
MBND
Total weight of top 15 holdings out of 15
36.72%
JMST
Total weight of top 15 holdings out of 15
12.23%
Top 15 holdings
Data as of July 31, 2026
MBND
US040664NJ98
2.92%
US91756SAR40
2.83%
US64971PKD68
2.74%
New Mexico, 4% 1aug2039, USD (2017A)
2.73%
US797661G828
2.55%
Southeast Energy Authority, 5% 1nov2035, USD (2024A)
2.49%
US896032AK58
2.43%
US649451KJ96
2.42%
California Community Choice Financing Authority, 5% 1sep2032, USD (2024E)
2.38%
US56035DGB29
2.37%
US346843PW94
2.33%
Georgia Municipal Electric Authority, 5% 1jan2048, USD (2019B)
2.26%
US679111E426
2.18%
US677561KM32
2.06%
US594712ZR50
2.03%
JMST
USA, Bills 0% 11aug2026, USD (119D)
2.16%
US64972GZB30
0.98%
US93974FDR10
0.85%
US01170PBW59
0.81%
US60412A2K82
0.74%
US424092HZ03
0.71%
US644894QC44
0.68%
US6492284K61
0.68%
US9788624C19
0.68%
US57421CHW73
0.68%
US650860AZ26
0.67%
US543077YT22
0.67%
US083773EE76
0.65%
US87638TEH23
0.64%
District of Columbia, FRN 1jun2051, USD (2026C)
0.64%
Frequently asked questions about MBND and JMST
How have the MBND and JMST ETFs performed in 2026?
As of September 1, 2026, MBND is down -0.68% year-to-date (YTD), while JMST has returned 1.46%. That puts JMST better performer ahead so far this year.
Which ETF is attracting more investor money: MBND or JMST?
Year-to-date, the MBND ETF saw - in flows, compared to +$984M for JMST.
Which ETF is more volatile: MBND or JMST?
Over the past year, MBND had a volatility of 2.24%, while JMST experienced 0.33%.
Which ETF is bigger: MBND or JMST?
As of September 1, 2026, MBND holds $26.72 M in assets under management (AUM), while JMST manages $7.35 B.
What sectors do the MBND and JMST ETFs invest in?
MBND leans toward sectors like Municipal. Meanwhile, JMST focuses on Municipal.
What are the top holdings of the MBND ETF and JMST ETF?
MBND top holdings include US040664NJ98, US91756SAR40 and US64971PKD68. JMST holds in its top three: USA, Bills 0% 11aug2026, USD (119D), US64972GZB30 and US93974FDR10.
Which ETF is more diversified: MBND or JMST?
MBND holds 73 securities with 36.72% of its assets in the top 15. JMST has 1623 securities and a top 15 weight of 12.23%.
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