# Product Facts - JPMorgan Municipal ETF > Audience: country=us, language=en, role=adv. > Generated: 2026-10-02T10:42:32.765230341Z. ## Identity - **Fund Name**: JPMorgan Municipal ETF - **Share Class Name**: JPMorgan Municipal ETF - **Product Page**: [Product Page](https://am.jpmorgan.com/us/en/asset-management/adv/products/jpmorgan-municipal-etf-etf-shares-46641q647) - **Ticker**: JMUB - **CUSIP**: 46641Q647 - **Fund Type**: ETF - **Asset Class**: Fixed Income Tax Exempt - **Fund Inception Date**: 10/29/2018 - **Investment Objective**: The Fund seeks to provide monthly dividends, which are excluded from gross income, and to protect the value of your investment by investing primarily in municipal obligations. For purposes of the Fund's investment objective, "gross income" means gross income for federal income tax purposes. ## Fund Facts - **Ticker**: JMUB - **CUSIP**: 46641Q647 - **Asset Class**: Fixed Income Tax Exempt - **Fund Inception Date**: 10/29/2018 - **Exchange**: NYSE-Arca - **ESG Approach**: Integrated [Disclosure 1] ## Fund Stats - **NAV As of 10/01/2026**: $47.65 - **NAV Change ($) As of 10/01/2026**: $0.07 - **NAV Change (%) As of 10/01/2026**: 0.16% - **Closing Price As of 10/01/2026**: $47.69 - **Closing Price Change ($) As of 10/01/2026**: $0.09 - **Closing Price Change (%) As of 10/01/2026**: 0.23% - **Discount/Premium As of 10/01/2026**: 0.09% - **Median Bid/Ask Spread As of 10/01/2026**: 0.02% [Disclosure 2] - **Daily High As of 10/01/2026**: $47.81 - **Daily Low As of 10/01/2026**: $47.56 - **30 Day SEC Yield As of 08/31/2026**: 3.69% - **30 Day SEC Yield Unsubsidized As of 08/31/2026**: 3.68% - **Dividend Yield As of 08/31/2026**: 3.56% - **12-Month Rolling Dividend Yield As of 10/01/2026**: 3.67% - **Daily - 30 Day SEC Yield As of 09/30/2026**: 4.15% - **Daily - 30 Day SEC Yield Unsubsidized As of 09/30/2026**: 4.14% - **Fund Assets As of 10/01/2026**: $8.30bn - **Shares Outstanding As of 10/01/2026**: 174,248,153 - **Exchange Volume As of 10/01/2026**: 5898242 [Disclosure 3] - **Number of Holdings As of 10/01/2026**: 2,128 - **YTD As of 10/01/2026**: -2.85% - **Market Price Returns As of 10/01/2026**: -2.94% ## Portfolio Managers ### Michelle Hallam - **In the industry**: 27 years - **With J.P. Morgan**: 27 years - **Managing this fund**: 8 years ### Michael Myers - **In the industry**: 33 years - **With J.P. Morgan**: 21 years - **Managing this fund**: 8 years ### Rachel Betton - **In the industry**: 20 years - **With J.P. Morgan**: 3 years - **Managing this fund**: 2 years ## Commentary **As of **: 06/30/2026 ### Topline Benchmark Bloomberg US Municipal Bond Index Markets Municipal bonds have delivered solid results through June, supported by robust demand. The attractive rate environment has spurred demand for fixed income so far this year. With strong seasonal technicals expected in July and early August, we anticipate continued outperformance through the summer. Municipal yields were lower in the second quarter, while Treasury yields moved higher. Helped Security selection in the IDR/PCR sector. Hurt Overweight the front end of the curve. Outlook We expect the Middle East conflict to continue influencing the rates market. Though favorable seasonal factors in July and early August may keep valuations rich, volatility in rates could persist. Sustained strong flows are critical to maintaining current valuations. There may be opportunities to add value over the summer; September could present a more attractive entry point if supply remains elevated. ### Quarter in Review The JPMorgan Municipal ETF (JMUB) underperformed the benchmark, the Bloomberg US Municipal Bond Index for the period ended June 30, 2026. The ETF’s overweight to the front end of the curve, specifically the zero to one-year maturity bucket, took from performance as it underperformed over the quarter. Security selection in health care, specifically in hospitals, took from performance over the quarter. Security selection in the IDR/PCR sector, specifically in IDR – Project, added to performance in the second quarter. Being underweight as well as security selection in state general obligation bonds, boosted performance for the quarter. ### Looking Ahead Municipal credit quality continues to look solid. Strong revenue growth persists; reserves remain at historically high levels. This supports favorable credit conditions and helps dampen the impact of less generous federal aid. We are monitoring statehouse budget proposals, as policies to address affordability concerns may have potential credit implications. The education sector, ranging from local school districts to charter schools and universities, is experiencing greater variability due to demographic shifts. Health care credit remains stable for now, even as Medicaid changes under the One Big Beautiful Bill Act introduce new risks. ## Documents - [Factsheet: JPMorgan Municipal ETF](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/fact-sheet/etfs/FS-JMUB.PDF) - [Fund Story: Municipal ETF](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/fund-story/STO-JMUB.pdf) - [Commentary: Municipal ETF](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/commentary/FC-JMUB.PDF) - [JPMorgan Tax Exempt ETF Commentary](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/fund-announcement/jpmorgan-tax-exempt-etf-commentary.pdf) - [ETF Dividend Calendar 2026](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/income-distribution-rates/jpmorgan-etfs-2026-distribution-notice.pdf) - [Summary Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/46641Q647/SP?site=JPMorganv3) - [Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/46641Q647/P?site=JPMorganv3) - [Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/46641Q647/AR?site=JPMorganv3) - [Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/46641Q647/NCSR?site=JPMorganv3) - [Semi-Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/46641Q647/SAR?site=JPMorganv3) - [Semi-Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/46641Q647/NCSRS?site=JPMorganv3) - [First Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/46641Q647/QH1?site=JPMorganv3) - [Third Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/46641Q647/QH3?site=JPMorganv3) - [Statement of Additional Information](https://am.jpmorgan.com/JPMorgan/TVT/46641Q647/S?site=JPMorganv3) - [Annual Report Of Proxy Voting](https://am.jpmorgan.com/JPMorgan/TVT/46641Q647/NPX?site=JPMorganv3) ## Disclosures 1. This Fund considers financially material environmental, social and governance ("ESG") factors as part of the Fund's investment process. In actively managed assets deemed by J.P. Morgan Asset Management to be ESG integrated under our governance process, we systematically assess financially material ESG factors amongst other factors in our investment decisions with the goals of managing risk and improving long-term returns. ESG integration does not change a strategy's investment objective, exclude specific types of companies or constrain a strategy's investable universe. 2. The median bid-ask spread is calculated by identifying national best bid and national best offer ("NBBO") for each Fund as of the end of each 10 second interval during each trading day of the last 30 calendar days, or since the listing date of each Fund if shorter, and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and posted on each business day. 3. The number of shares or contracts traded in a security or an entire market during a given period of time. Each transaction between a buyer and seller contributes to the count of total volume.