FSMB vs JMST
First Trust Short Duration Managed Municipal ETF against JPMorgan Ultra-Short Municipal Income ETF: cost, size, returns, what they hold and how much of it is the same.
Overlap by weight
2%
25 shared positions
Fee gap
37 bp
JMST is cheaper
1-year return gap
2.1 pts
JMST is ahead
Larger fund
JMST
$8.0B
Side by side
| FSMB | JMST | |
|---|---|---|
| Fund | First Trust Short Duration Managed Municipal ETF | JPMorgan Ultra-Short Municipal Income ETF |
| Issuer | First Trust | JPMorgan |
| Category | Short Muni | Short Muni |
| Expense ratio | 0.55% | 0.18% |
| Assets | $642M | $8.0B |
| Average daily dollar volume | $6.2M | $95M |
| Listed | Nov 1, 2018 | Oct 16, 2018 |
| FrenzyCap score | 50 | 90 |
| 1-month return | −0.4% | +0.1% |
| 3-month return | −1.0% | −0.2% |
| Year to date | −2.1% | −0.3% |
| 1-year return | −2.4% | −0.3% |
| 30-day volatility | 3.5% | 1.0% |
| Worst drawdown, 1 year | −4.2% | −1.2% |
| Trailing 12-month yield | 3.24% | 2.56% |
| Holdings | 583 | 2,003 |
| Top 10 weight | 6.6% | 6.3% |
| Look-through P/E | — | — |
| Holdings vs fair value | — | — |
| Holdings above 200-day average | — | — |
| Net flow, latest 3 reported months | +$26M thru Jul 2026 | +$212M thru May 2026 |
| 30-day implied volatility | 19.2% | 4.3% |
| Holdings as of | as of Oct 20, 2026issuer data | as of Oct 21, 2026issuer data |
Returns are price returns and exclude distributions. Flows are each fund's own latest reported months and may not cover the same period.
Largest shared holdings
7% of FSMB · 3% of JMST| Holding | FSMB | JMST |
|---|---|---|
| COLORADO ST HLTH FACS AUTH REV Variable rate, due 05/15/2062 | 0.32% | 0.35% |
| MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH Variable rate, due 07/01/2055 | 0.31% | 0.56% |
| TEXAS ST MUNI GAS ACQUISITION & SPLY CORP IV Variable rate, due 01/01/2054 | 0.44% | 0.28% |
| CHANDLER AZ INDL DEV AUTH INDL DEV REV Variable rate, due 09/01/2052 | 0.39% | 0.24% |
| CALIFORNIA ST MUNI FIN AUTH SOL WST DISP Variable rate, due 03/01/2056 | 0.19% | 0.22% |
| COLORADO ST HLTH FACS AUTH REV Variable rate, due 11/15/2060 | 0.64% | 0.17% |
| MISSOURI ST HLTH & EDUCTNL FACS AUTH Variable rate, due 05/01/2052 | 0.16% | 0.23% |
| CALIFORNIA ST POLL CONTROL FIN AUTH Variable rate, due 07/01/2043 | 0.14% | 0.12% |
| ILLINOIS ST 5%, due 11/01/2029 | 0.37% | 0.11% |
| UNIV OF KANSAS KS HOSP AUTH HLTH FACS Variable rate, due 03/01/2055 | 0.12% | 0.11% |
| SOUTH CAROLINA ST JOBS-ECON DEV AUTH Variable rate, due 11/01/2055 | 0.20% | 0.09% |
| FLORIDA ST DEV FIN CORP SOL WST DISP REV Variable rate, due 09/01/2050 | 0.11% | 0.06% |
| HOUSTON TX ARPT SYS REVENUE N/C, 5%, due 07/15/2027 | 0.16% | 0.05% |
| ARIZONA ST INDL DEV AUTH NATL CHRT SCH 4%, due 11/01/2027 | 0.08% | 0.05% |
| OHIO ST AIR QUALITY DEV AUTH Variable rate, due 11/01/2039 | 0.74% | 0.05% |
| INDIANA ST FIN AUTH HLTH SYS REV Variable rate, due 10/01/2064 | 0.20% | 0.04% |
| CONNECTICUT ST N/C, 5%, due 12/01/2028 | 0.08% | 0.03% |
| MICHIGAN ST STRATEGIC FUND LTD OBLG REV Variable rate, due 10/01/2049 | 0.31% | 0.02% |
| MATAGORDA CNTY TX NAV DIST 1 N/C, 4.25%, due 05/01/2030 | 0.31% | 0.02% |
| LEE CNTY FL ARPT REVENUE Variable rate, due 10/01/2056 | 0.16% | 0.02% |
| TRIMBLE CNTY KY ENVRNMNTL FACS REV Variable rate, due 06/01/2054 | 0.25% | 0.01% |
| SAINT JOHN THE BAPTIST PARISH LA Variable rate, due 06/01/2037 | 0.62% | 0.01% |
| BARTOW CNTY GA DEV AUTH Variable rate, due 12/01/2032 | 0.04% | 0.01% |
| NORTH CAROLINA ST MED CARE COMMN Variable rate, due 06/01/2055 | 0.16% | 0.01% |
| BURKE CNTY GA DEV AUTH POLL CTRL REV Variable rate, due 11/01/2053 | 0.23% | 0.00% |
Sector mix of the stock holdings
No sector breakdown: these funds hold few classified stocks.
More: full overlap table · FSMB holdings · JMST holdings
Fund data comes from each fund's SEC filings and issuer disclosures and is shown with the date it is as of. SEC portfolio and flow filings become public about 60 days after the period they cover. Nothing here is investment advice; see Terms.