J.P. Morgan Asset Management Launches Ultra-Short Municipal ETF: JMST

J.P. Morgan Asset Management today announced the launch of the JPMorgan Ultra-Short Municipal ETF (JMST), an actively managed fixed-income ETF that focuses on tax-exempt yield and invests in municipal securities with less interest rate sensitivity. 

The strategy invests primarily in investment grade, ultra-short municipal bonds that are exempt from federal income tax. The fund employs a value-driven, bottom-up approach and seeks to maintain a target duration range of two years or less. Additionally, it can serve as a diversifier to a portfolio's core exposure and the shorter duration can help to reduce volatility.