High Yield Municipal ETF Fund (JMHI) Performance
JMHI total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −1.1% since Dec 31, 2025
- 1 year
- −1.0% total return
- 3 years
- +6.1% a year
- Since first price
- +3.3% a year since 2023
JMHI trailing returns vs AGG, TLT, SPY
| Period | JMHI total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +1.5% | +1.1% | +0.9% | +1.5% | −1.0% |
| 3 months | −1.8% | −2.9% | −0.4% | −1.0% | +3.2% |
| 6 months | −2.0% | −4.2% | −1.5% | −3.8% | +7.8% |
| YTD | −1.1% | −4.3% | −1.0% | −3.4% | +12.3% |
| 1 year | −1.0% | −5.3% | −1.1% | −6.9% | +14.4% |
| 3 years | +19.3%+6.1%/yr | +4.1% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| Since inceptionJul 17, 2023 | +11.1%+3.3%/yr | −4.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: JMHI vs AGG
From Jul 17, 2023: JMHI grew to $11,114, AGG to $11,072.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
JMHI returns by calendar year
2 of 2 full years positive. Best 2024 (+5.9%), worst 2025 (+4.6%). 2026 is year to date.
JMHI annual returns table
| Year | JMHI | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −1.1% | −7.3% | −1.0% | −3.4% | +12.3% |
| 2025 | +4.6% | −4.8% | +7.2% | +4.3% | +17.7% |
| 2024 | +5.9% | −2.3% | +1.3% | −8.1% | +24.9% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
JMHI largest drawdowns
Now 3.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jul 2, 2026 | −7.3% | Sep 29, 2026 | not yet | 3 months | 4 months so far |
| Jul 18, 2023 | −7.1% | Oct 31, 2023 | Dec 13, 2023 | 3 months | 5 months |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
JMHI risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | +4.3% | +3.0% |
| Volatility (annualized) | 6.2% | 6.2% |
| Sharpe ratio | 0.01 | -0.21 |
| Sortino ratio | 0.01 | -0.29 |
| Best month | +6.4% | +6.4% |
| Worst month | −4.6% | −4.6% |
| Best 12 months | +15.0% | +15.0% |
| Worst 12 months | −2.8% | −2.8% |
| Positive months | 67% | 63% |
| Beta vs S&P 500 | 0.30 | — |
| Correlation with S&P 500 | 0.61 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
JMHI rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 28 | −2.8% | +4.9% | +15.0% | 93% |
| 3-year (a year) | 4 | +4.3% | +4.9% | +6.1% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
JMHI performance overview
High Yield Municipal ETF Fund (JMHI) returned −1.0% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned +3.3% a year, turning $10,000 into about $11,114. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −7.3%, from Jul 2, 2026 to Sep 29, 2026; the fund has not yet regained that high. Volatility has been 6.2% a year.
Related: JMHI chart, JMHI dividends, JMHI bond profile. See the JMHI overview for the latest quote and fund facts.
JMHI performance FAQ
What is the JMHI return over the past year?
JMHI returned −1.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 5.3%.
How much would $10,000 invested in JMHI be worth?
$10,000 invested in JMHI at its first recorded close on July 17, 2023 would be worth about $11,114 on October 23, 2026 with distributions reinvested.
What was the worst year for JMHI?
The worst calendar year was 2025, with a total return of +4.6%. The best was 2024 at +5.9%.
What is the biggest drawdown of JMHI?
The largest peak-to-trough decline was −7.3% between July 2, 2026 and September 29, 2026. It has not yet recovered to that high; it is 3.8% below its peak.
How volatile is JMHI?
Over the past 3 years JMHI had an annualized volatility of 6.2% and a Sharpe ratio of 0.01 (excess return over 1–3 month T-bills per unit of risk).