- ISIN
- US14020Y2019
- Issuer
- Capital Group
- Inception Date
- Oct 25, 2022
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $6B
Share Price Chart
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Performance
CGMU Performance Chart
Capital Group Municipal Income ETF (CGMU) is up 1.7% since the beginning of the year. CGMU is currently trading at $27 per share.
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Returns By Period
Capital Group Municipal Income ETF (CGMU) has returned 1.72% so far this year and 6.39% over the past 12 months.
Capital Group Municipal Income ETF
- 1D
- 0.04%
- 1M
- 1.22%
- YTD
- 1.72%
- 6M
- 1.90%
- 1Y
- 6.39%
- 3Y*
- 4.50%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
CGMU Monthly Returns History
Based on dividend-adjusted daily data since Oct 27, 2022, CGMU's average daily return is +0.02%, while the average monthly return is +0.47%. At this rate, an investment would double in approximately 12.3 years.
Historically, 76% of months were positive and 24% were negative. The best month was Nov 2023 with a return of +5.0%, while the worst month was Mar 2026 at -2.3%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 3 months.
On a daily basis, CGMU closed higher 54% of trading days. The best single day was Nov 10, 2022 with a return of +1.2%, while the worst single day was Nov 6, 2024 at -1.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.98% | 1.32% | -2.27% | 0.96% | 0.41% | 0.37% | 1.72% | ||||||
| 2025 | 0.72% | 1.06% | -1.33% | -0.51% | 0.13% | 0.73% | 0.10% | 0.82% | 2.17% | 0.68% | 0.22% | 0.32% | 5.19% |
| 2024 | 0.17% | 0.05% | 0.30% | -1.02% | 0.10% | 1.18% | 1.36% | 0.52% | 1.05% | -1.30% | 1.21% | -0.98% | 2.64% |
| 2023 | 2.74% | -1.89% | 1.82% | 0.06% | -0.90% | 0.82% | 0.27% | -0.75% | -1.67% | -1.11% | 4.98% | 2.40% | 6.76% |
| 2022 | 0.01% | 4.61% | 0.04% | 4.65% |
Benchmark Metrics
Capital Group Municipal Income ETF has an annualized alpha of 4.96%, beta of 0.04, and R2 of 0.04 versus S&P 500 Index. Calculated based on daily prices since October 27, 2022.
- This ETF participated in 26.92% of S&P 500 Index downside but only 23.83% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.04 may look defensive, but with R2 of 0.04 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.04 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 4.96%
- Beta
- 0.04
- R²
- 0.04
- Upside Capture
- 23.83%
- Downside Capture
- 26.92%
Expense Ratio
CGMU has an expense ratio of 0.27%, which is considered low.
Return for Risk
Risk / Return Rank
CGMU ranks 74 for risk / return — better than 74% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Capital Group Municipal Income ETF (CGMU) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CGMU | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.78 | ||
| Sortino ratioReturn per unit of downside risk | +1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.37 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | 2.78 | -0.27 |
| Martin ratioReturn relative to average drawdown | 8.00 | 12.44 | -4.44 |
Dividends
Dividend History
Capital Group Municipal Income ETF provided a 3.32% dividend yield over the last twelve months, with an annual payout of $0.91 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $0.91 | $0.91 | $0.86 | $0.84 | $0.13 |
Dividend yield | 3.32% | 3.32% | 3.21% | 3.08% | 0.49% |
Monthly Dividends
The table displays the monthly dividend distributions for Capital Group Municipal Income ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.07 | $0.08 | $0.08 | $0.08 | $0.07 | $0.00 | $0.38 | ||||||
| 2025 | $0.06 | $0.08 | $0.08 | $0.08 | $0.08 | $0.06 | $0.09 | $0.07 | $0.07 | $0.09 | $0.07 | $0.09 | $0.91 |
| 2024 | $0.06 | $0.08 | $0.07 | $0.09 | $0.08 | $0.06 | $0.05 | $0.07 | $0.07 | $0.08 | $0.07 | $0.09 | $0.86 |
| 2023 | $0.05 | $0.06 | $0.08 | $0.06 | $0.07 | $0.07 | $0.07 | $0.08 | $0.07 | $0.08 | $0.06 | $0.10 | $0.84 |
| 2022 | $0.05 | $0.08 | $0.13 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Capital Group Municipal Income ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Capital Group Municipal Income ETF was 4.11%, occurring on Oct 31, 2023. Recovery took 19 trading sessions.
The current Capital Group Municipal Income ETF drawdown is 0.57%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2023 pullback2023 | -4.11%Oct 2023 | 6mo 21d | 28d | 7mo 19dApr 2023 - Nov 2023 |
2025 selloff2025 | -3.61%Apr 2025 | 1mo 8d | 4mo 24d | 6mo 2dMar 2025 - Sep 2025 |
2023 pullback2023 | -2.60%Feb 2023 | 21d | 1mo 11d | 2mo 2dFeb 2023 - Apr 2023 |
2026 pullback2026 | -2.55%Mar 2026 | 24d | — | 3mo 23dMar 2026 - now |
2024 pullback2024 | -2.46%Nov 2024 | 1mo 4d | 28d | 2mo 2dOct 2024 - Dec 2024 |
Drawdown Indicators
| CGMU | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.11% | -56.78% | +52.67% |
Max Drawdown (1Y)Largest decline over 1 year | -2.55% | -9.10% | +6.55% |
Max Drawdown (3Y)Largest decline over 3 years | -3.89% | -18.90% | +15.01% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.57% | -1.80% | +1.23% |
Average DrawdownAverage peak-to-trough decline | -0.84% | -10.71% | +9.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 2.03% | -1.23% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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