JPMorgan Ultra-Short Municipal Income ETF
JPMorgan Ultra-Short Municipal ETF (AMEX: JMST) is an exchange-traded fund listed on NYSE Arca, trading at $50.56 (about ₹4,857 a unit) as of 29 Sep 2026, 11:21 AM ET. It has an expense ratio of 0.18% and holds 1,577 securities. Indian residents can buy JMST through Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
$50.52
Today's high
$50.57
52 week low
$50.53
52 week high
$51.13
JMST opened at $50.57, closed previously at $50.56, and has traded between $50.53 and $51.13 over the past 52 weeks.
About
Under normal circumstances, the fund invests at least 80% of its assets in municipal securities, the income from which is exempt from federal income tax. For purposes of this policy, "Assets" means net assets, plus the amount of borrowings for investment purposes. Up to 100% of the fund's assets may be invested in short-term municipal instruments such as variable rate demand notes, short-term municipal notes and tax-exempt commercial paper.
Key statistics
Expense ratio
0.18%
Assets (AUM)
$7.6B
Holdings
1,577
NAV
$50.50
Avg. volume
—
1-year price change
-0.93%
5-year price change
-0.97%
Price change excludes dividends.
Top 10 holdings
JMST holds 1,577 securities in total. These 10 are 15.2% of the fund.
Where the money is invested
Countries
Similar funds
This is not an investment recommendation
How to buy JMST from India
Indian residents can buy JMST units through Paasa in three steps. Funds leave India under the RBI's Liberalised Remittance Scheme and the units are held in your own name with Interactive Brokers.
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Search JMST and buy
Find the fund by its ticker, JMST, on NYSE Arca, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Read the full guide: how to invest in JMST from India
Trading and taxes when buying JMST from India
Trading and limits
- Trading hours
- 9:30 am – 4:00 pm ET
- LRS limit
- $250,000Per financial year, under the RBI's Liberalised Remittance Scheme.
Tax for Indian residents
- TCS on remittance
- 20%Collected by your bank on LRS remittances above ₹10 lakh in a financial year. The TCS is adjustable against your income-tax liability.Adjusting TCS against your tax
- Capital gains in India
- Taxable in IndiaGains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling.
- Dividends
- Slab rateIt pays the dividends from its holdings out to you in cash, and dividends are taxed at your slab rate in India.Dividend tax explained
- US estate tax
- May applyUS-situs assets such as US-listed shares can be exposed to US estate tax for non-US persons.US estate tax calculator
Custody. Units are held in your own name at Interactive Brokers LLC and are SIPC-insured up to $500,000 in total, including $250,000 for cash.
FAQs
What is the JMST price today?
JPMorgan Ultra-Short Municipal ETF (JMST) last traded at $50.56 on NYSE Arca, as of 29 Sep 2026, 11:21 AM ET. That is ₹4,857 a unit at the 28 Sep 2026 USD/INR rate.
When does JMST trade, in Indian time?
NYSE Arca trades 7:00 pm – 1:30 am IST, so the close lands after midnight. The window shifts to 8:00 pm – 2:30 am IST when the US is on standard time. Orders can only execute during that window.
How big is JMST, and what does it cost to hold?
JPMorgan Ultra-Short Municipal ETF manages about $7.6B. Its expense ratio is 0.18% a year, deducted inside the fund. It launched in 2018.
What are JMST's largest holdings?
The top three are JPMI TAX FREE MMKTF IM (9.2%), NEW YORK N Y VAR 06/45 (0.8%) and WICHITA KANS GEN 5% 10/27 (0.7%). JMST's 10 largest positions make up 15.2% of the fund.
Does JMST pay dividends?
Yes. JMST is a distributing fund and pays the dividends from its holdings out in cash. In India they are taxed at your slab rate.
How are gains on JMST taxed in India?
Gains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling.
Can I buy fractional units of JMST?
Yes. You can buy JMST by amount rather than by whole unit, and there is no minimum trade size.
How has JMST performed?
JMST's price is down 0.9% over the past year and down 1.0% over five years. These figures are price change only and exclude dividends; past performance does not guarantee future returns.