The JPMorgan Ultra-Short Municipal Fund (ticker: USMSX) is a mutual fund that primarily invests in short-term municipal bonds. These bonds are issued by state and local governments to fund public projects and services. The fund aims to provide investors with a low-risk investment option that offers potential tax-exempt income. With a focus on short-term bonds, the fund seeks to provide stability and liquidity to investors while also generating modest returns. Managed by JPMorgan, one of the largest and most reputable financial institutions, this fund offers a conservative investment option for those seeking to diversify their portfolio with municipal bonds.