JMUB vs GBTC

Comparison between JPMORGAN MUNICIPAL ETF (JMUB, ETF) and Grayscale Investments LLC (GBTC, ETF).

5-Year PerformanceGBTC has outperformed JMUB, delivering a return of +13.7% compared to +1.0%

JMUB vs GBTC - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	JMUB(ETF)	GBTC(ETF)
Net Assets	$8B	$8.10B
Expense Ratio	0.18%	1.50%
Max Drawdown	14.47%	89.91%
Sharpe Ratio	0.68	-1.24
5Y Beta	0.02	1.29
5Y Dividends CAGR	12.05%	N/A

Net Assets

JMUB

$8B

Winner

GBTC

$8.10B

Expense Ratio

Winner

JMUB

0.18%

GBTC

1.50%

Max Drawdown

Winner

JMUB

14.47%

GBTC

89.91%

Sharpe Ratio

Winner

JMUB

0.68

GBTC

-1.24

5Y Beta

Winner

JMUB

0.02

GBTC

1.29

5Y Dividends CAGR

JMUB

12.05%

GBTC

N/A

JMUB vs GBTC - Historical Returns

Returns include dividend reinvestment.

Period	JMUB	GBTC
1 month	-0.10%	-2.22%
3 months	+0.54%	-15.11%
6 months	+0.61%	-33.25%
1 year	+5.68%	-46.99%
5 years(CAGR)	+1.03%	+13.70%
10 years(CAGR)	N/A	+45.40%
Max(CAGR)	+2.98%	+53.41%

Winner

JMUB

-0.10%

GBTC

-2.22%

Winner

JMUB

+0.54%

GBTC

-15.11%

Winner

JMUB

+0.61%

GBTC

-33.25%

Winner

JMUB

+5.68%

GBTC

-46.99%

5Y(CAGR)

JMUB

+1.03%

Winner

GBTC

+13.70%

10Y(CAGR)

JMUB

N/A

GBTC

+45.40%

Max(CAGR)

JMUB

+2.98%

Winner

GBTC

+53.41%

JMUB vs GBTC - Annual Returns (2015 - 2026)

Returns include dividend reinvestment.

Year	JMUB	GBTC
2026	+1.13%	-29.03%
2025	+4.15%	-11.46%
2024	+1.90%	+100.87%
2023	+5.86%	+322.20%
2022	-7.39%	-75.81%
2021	+1.59%	-2.37%
2020	+4.88%	+301.00%
2019	+8.35%	+77.27%
2018	+2.81%	-84.05%
2017	N/A	+1558.98%
2016	N/A	+90.08%
2015	N/A	+50.01%

JMUB vs GBTC Drawdown Comparison

The maximum drawdown for JMUB was -12.50%, occurring on Mar 23, 2020. Recovery took 106 trading sessions.

The maximum drawdown for GBTC was -89.91%, occurring on Dec 14, 2018. Recovery took 766 trading sessions.

The current JMUB drawdown is -0.73%. The current GBTC drawdown is -49.43%.

Rank	JMUB	GBTC
#1	-12.50% Mar 9, 2020 - Aug 7, 2020	-89.91% Dec 18, 2017 - Jan 5, 2021
#2	-12.06% Jul 30, 2021 - Sep 5, 2024	-86.24% Feb 19, 2021 - Mar 4, 2024
#3	-4.02% Feb 28, 2025 - Sep 5, 2025	-57.96% May 5, 2015 - Dec 8, 2015
#4	-2.55% Feb 27, 2026 - Jul 2, 2026	-53.75% Oct 6, 2025 - Jun 30, 2026
#5	-2.18% Oct 1, 2024 - Dec 4, 2024	-48.42% Aug 31, 2017 - Nov 3, 2017
#6	-2.17% Feb 12, 2021 - Jun 8, 2021	-41.48% Jun 17, 2016 - Jan 3, 2017
#7	-2.07% Dec 4, 2024 - Feb 26, 2025	-36.93% Dec 15, 2015 - Apr 21, 2016
#8	-1.36% Aug 15, 2019 - Oct 9, 2019	-36.68% Jun 6, 2017 - Aug 10, 2017
#9	-1.22% Aug 11, 2020 - Nov 20, 2020	-35.04% Mar 13, 2024 - Nov 11, 2024
#10	-1.18% Oct 9, 2019 - Jan 3, 2020	-30.26% Jan 7, 2021 - Feb 8, 2021
#11	-0.73% Jul 6, 2026 - Jul 16, 2026	-28.76% Jan 4, 2017 - May 1, 2017
#12	-0.55% Jun 15, 2021 - Jul 8, 2021	-28.45% Dec 17, 2024 - May 21, 2025
#13	-0.48% Mar 28, 2019 - Apr 29, 2019	-19.31% May 9, 2017 - May 22, 2017
#14	-0.45% Nov 11, 2025 - Nov 28, 2025	-18.18% May 9, 2016 - May 31, 2016
#15	-0.42% Sep 17, 2025 - Oct 10, 2025	-15.79% Nov 3, 2017 - Nov 20, 2017