MMSDvsJMSTETF Comparison
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NYLI MacKay Muni Short Duration ETF (MMSD) and JPMorgan Ultra-Short Municipal Income ETF (JMST) belong to the same industry segment: Municipal Bonds. MMSD's top 3 sector exposures are Municipal, Healthcare and Industrials. In contrast, JMST's top sector exposures are Municipal and Sovereign. MMSD is more expensive with a Total Expense Ratio (TER) of 0.44%, versus 0.18% for JMST. MMSD is up 1.46% year-to-date (YTD) with +$27M in YTD flows. JMST performs better with 1.46% YTD performance, and +$1.00B in YTD flows. Run a side-by-side ETF comparison of MMSD 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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MMSD vs JMST performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/02/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MMSD JMST | +0.21%+0.20% | +0.24%+0.49% | +1.46%+1.46% | +2.77%+2.34% | n/a+9.95% | n/a+12.29% |
| Flows | MMSD JMST | +$6M+$264M | +$16M+$982M | +$27M+$1.00B | +$56M+$3.00B | -+$4.80B | -+$5.28B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MMSD JMST | +1.06%+0.34% | +1.10%+0.33% | n/a+0.40% | n/a+0.43% |
| Max drawdown | MMSD JMST | -0.61%-0.11% | -1.25%-0.15% | n/a-0.46% | n/a-0.93% |
| Max drawdown duration | MMSD JMST | 36d11d | 114d21d | n/a29d | n/a435d |
Trading data
MMSD | JMST | |
Last sale 9/3/2026 at 1:30 PM | $25.15 | |
| Previous close 09/02/2026 | $25.18 | |
| Consolidated volume 09/02/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/3/2026 at 1:30 PM
Live
Closed
MMSD | JMST | |
|---|---|---|
| Last price | $25.15 | – |
| 1D performance | -0.13% | – |
| AuM | $83.65 M | $7.37 B |
| E/R | 0.44% | 0.18% |
Characteristics
MMSD | JMST | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | New York Life Investments | J.P. Morgan Asset Management |
| Benchmark | - | - |
| N° of holdings | 41 | 523 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | May 5, 2025 | October 16, 2018 |
| ESG | No | No |
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Exposure
Countries
MMSD
USA
24.97%
Other
75.03%
JMST
USA
27.09%
Other
72.91%
Sectors
MMSD
Municipal
22.59%
Other
77.41%
JMST
Municipal
24.94%
Other
75.06%
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Diversification
MMSD
Total weight of top 15 holdings out of 15
19.67%
JMST
Total weight of top 15 holdings out of 15
12.23%
Top 15 holdings
Data as of July 31, 2026
MMSD
US708692BV94
1.85%
US72342NAF24
1.51%
US118217CN67
1.32%
US84136HCT86
1.31%
US19648FJ393
1.29%
Black Belt Energy Gas District, 5% 1jun2031, USD (2026)
1.29%
Main Street Natural Gas Inc., 5% 1may2054, USD (2023D)
1.28%
US63609YAA64
1.24%
New York Housing Development Corp., 5.458% 15dec2031, USD (2024, A)
1.24%
US360059AL37
1.23%
US59447UBB52
1.23%
US04785VCD47
1.23%
Arkansas Development Finance Authority, 4% 1sep2046, USD (2026A)
1.23%
San Jose (CA), 3.05% 1may2066, USD (2026A)
1.22%
US87972MCC47
1.22%
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 MMSD and JMST
How have the MMSD and JMST ETFs performed in 2026?
As of September 2, 2026, MMSD is up 1.46% 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: MMSD or JMST?
Year-to-date, the MMSD ETF saw +$27M in flows, compared to +$1.00B for JMST.
Which ETF is more volatile: MMSD or JMST?
Over the past year, MMSD had a volatility of 1.1%, while JMST experienced 0.33%.
Which ETF is bigger: MMSD or JMST?
As of September 2, 2026, MMSD holds $83.65 M in assets under management (AUM), while JMST manages $7.37 B.
What sectors do the MMSD and JMST ETFs invest in?
MMSD leans toward sectors like Municipal. Meanwhile, JMST focuses on Municipal.
What are the top holdings of the MMSD ETF and JMST ETF?
MMSD top holdings include US708692BV94, US72342NAF24 and US118217CN67. JMST holds in its top three: USA, Bills 0% 11aug2026, USD (119D), US64972GZB30 and US93974FDR10.
Which ETF is more diversified: MMSD or JMST?
MMSD holds 155 securities with 19.67% of its assets in the top 15. JMST has 1623 securities and a top 15 weight of 12.23%.
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