JPMorgan Municipal ETF
JMUB
Chicago Board Options Exchange- -
USD
- -
- -
- -
- -
(- -)
Recent
price
- -
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Similar Companies
- Business
- JPMorgan Municipal ETF (JMUB) is an actively managed exchange-traded fund that seeks to deliver federal tax-exempt income and capital preservation through a diversified portfolio of intermediate-term municipal bonds exempt from federal income taxes; it emphasizes comprehensive risk/reward analysis to identify securities that may perform well over market cycles, with an average weighted maturity typically between three and twelve years. The fund primarily invests in investment-grade municipal securities, including revenue bonds (such as higher education, industrial development, special tax, and housing bonds), general obligation bonds, and a limited allocation to high-yield or non-rated municipal debt (up to approximately 8-10% of assets); it may also hold bonds subject to the alternative minimum tax when yields are attractive, repurchase agreements, or U.S. Treasury securities as needed, while actively managing credit risk, duration, and sector exposures like overweights in education and underweights in transportation and utilities. Portfolio managers favor higher-coupon structures (e.g., 5% coupons) with better call protection for enhanced convexity and yield in varying interest rate environments. Launched on October 29, 2018, by J.P. Morgan Asset Management—a business line of JPMorgan Chase & Co., headquartered at 270 Park Avenue in New York, United States—the ETF operates in the fixed income segment focused on U.S. municipal bonds, targeting investors seeking tax-efficient income from investment-grade intermediate-term securities. As of October 31, 2025, the fund manages approximately $6.07 billion in assets, with 1,733 holdings, an effective duration of 6.17 years, a yield to worst of 3.56% (net), and a 30-day SEC yield of 3.52%; its credit quality breakdown includes 14.6% AAA, 39.7% AA, 29.0% A, 8.1% BBB, and smaller high-yield/non-rated portions. In a major strategic development completed on October 24, 2025 (announced around October 27), the JPMorgan National Municipal Income Fund merged into JMUB, significantly expanding its scale to $5.8 billion in assets under management and positioning it as the largest active municipal bond ETF in the United States, as well as the fourth-largest active fixed income ETF overall; this merger enhanced access to municipal markets for investors through greater efficiency, transparency, and cost-effectiveness at an expense ratio of 18 basis points. The transaction supported J.P. Morgan Asset Management's ETF business growth, elevating total ETF assets beyond $250 billion, while maintaining the fund's active strategy for tax-free income and capital protection. No other significant acquisitions, partnerships, or product launches have been reported in the past 1-2 years.