JPMorgan Ultra-Short Municipal Fund Class I (USMTX)

Fund Assets	2.69B
Expense Ratio	0.188%
Min. Investment	$1,000,000
Turnover	58.00%
Dividend (ttm)	0.26
Dividend Yield	2.66%
Dividend Growth	-8.02%
Payout Frequency	Monthly
Ex-Dividend Date	Sep 28, 2026

Previous Close	9.96
YTD Return	1.03%
1-Year Return	1.53%
5-Year Return	10.35%
52-Week Low	9.92
52-Week High	10.06
Beta (5Y)	0.03
Holdings	983
Inception Date	Aug 31, 2016

About USMTX

JPMorgan Ultra-Short Municipal Fund Class I is a mutual fund focused on generating a high level of current income exempt from federal income tax, while aiming to preserve principal stability. This fund primarily invests in high-quality, ultra-short municipal bonds, with an average weighted maturity typically under two years. By emphasizing bonds with comparatively short durations and strong credit quality—most assets falling in AA, A, and AAA ratings—it seeks to minimize interest rate risk and enhance liquidity. The fund's portfolio is diversified across general obligation and revenue-backed municipal securities, as well as cash and pre-refunded bonds, catering to institutional investors due to its higher initial minimum investment. As part of the Muni National Short category, it serves as a core holding for investors looking for federal tax advantages in their fixed income allocations. Managed by an experienced team at JPMorgan Asset Management, this fund plays a significant role in providing tax-efficient, low-duration exposure for capital preservation and stable income within the broader municipal bond market.

• Fund Family: JPMorgan
• Category: Muni National Short
• Performance Rating: Average
• Risk Rating: Below Average
• Stock Exchange: Nasdaq
• Ticker Symbol: USMTX
• Share Class: Class I
• Index: Bloomberg Municipal Bond 1 Y TR

Performance

USMTX had a total return of 1.53% in the past year, including dividends. Since the fund's inception, the average annual return has been 1.55%.

Equivalent Funds

These are funds that follow the same index from the other major fund companies.

Symbol	Provider	Name	Expense Ratio
FMNDX	Fidelity	Fidelity Conservative Income Municipal Bond Fund	0.24%

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
USMSX	Class A	0.38%

Top 10 Holdings

15.89% of assets

Name	Symbol	Weight
JPMorgan Instl Tx Fr Mny Mkt IM	JOIXX	6.79%
PENNSYLVANIA ST TPK COMMN TPK REV 2.28%	PA.PASTRN 12.01.2039	1.34%
RIB FLOATER TR VARIOUS STS 3.08%	MI.TENGEN 03.01.2058	1.21%
United States Treasury Bills	B.0 09.10.26	0.99%
BLACK BELT ENERGY GAS DIST ALA GAS SUPPLY REV 3.8388%	AL.BBEUTL 07.01.2052	0.98%
NEW YORK N Y 2.9%	NY.NYC 03.01.2044	0.96%
NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 2.9%	NY.NYCGEN 08.01.2042	0.96%
OHIO ST UNIV GEN RCPTS 2.15%	OH.OHSHGR 06.01.2043	0.96%
WOODBRIDGE TWP N J 4%	NJ.WBG 4 10.09.2026	0.85%
FAIRFAX CNTY VA INDL DEV AUTH HEALTH CARE REV 2.31%	VA.FAIDEV 05.15.2033	0.85%

Dividend History

Ex-Dividend	Amount	Pay Date
Sep 28, 2026	$0.02165	Sep 29, 2026
Aug 27, 2026	$0.02108	Aug 28, 2026
Jul 29, 2026	$0.02149	Jul 30, 2026
Jun 26, 2026	$0.02173	Jun 29, 2026
May 27, 2026	$0.02124	May 28, 2026
Apr 28, 2026	$0.02556	Apr 29, 2026

Data Sources: Tiingo, Twelve Data, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Twelve Data. Several fund data points are also provided by Finnhub.

Last checked:

Oct 16, 2026

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