- Issuer
- Capital Group
- Inception Date
- Sep 26, 2023
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $2B
Highlights
- Avg. Volume (1M)
- 265K
- Avg. Volume Value (1M)
- $6.97M
Share Price Chart
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Performance
CGSM Performance Chart
Capital Group Short Duration Municipal Income ETF (CGSM) is up 1.1% since the beginning of the year. CGSM is currently trading at $26 per share.
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Returns By Period
Capital Group Short Duration Municipal Income ETF (CGSM) has returned 1.11% so far this year and 3.07% over the past 12 months.
Capital Group Short Duration Municipal Income ETF
- 1D
- -0.05%
- 1M
- -0.42%
- 6M
- 0.28%
- YTD
- 1.11%
- 1Y
- 3.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.76%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
CGSM Monthly Returns History
Based on dividend-adjusted daily data since Sep 28, 2023, CGSM's average daily return is +0.02%, while the average monthly return is +0.38%. At this rate, an investment would double in approximately 15.2 years.
Historically, 74% of months were positive and 26% were negative. The best month was Nov 2023 with a return of +2.5%, while the worst month was Mar 2026 at -1.0%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 2 months.
On a daily basis, CGSM closed higher 55% of trading days. The best single day was Nov 29, 2023 with a return of +0.5%, while the worst single day was Apr 7, 2025 at -0.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.83% | 0.63% | -0.95% | 0.41% | 0.27% | 0.38% | -0.44% | 1.11% | |||||
| 2025 | 0.58% | 0.69% | -0.39% | -0.21% | 0.57% | 0.68% | 0.45% | 0.66% | 0.73% | 0.17% | 0.23% | 0.33% | 4.58% |
| 2024 | -0.15% | 0.21% | 0.22% | 0.01% | -0.03% | 1.07% | 1.17% | 0.82% | 0.58% | -0.50% | 0.68% | -0.40% | 3.71% |
| 2023 | -0.04% | 0.05% | 2.53% | 1.48% | 4.06% |
Benchmark Metrics
Capital Group Short Duration Municipal Income ETF has an annualized alpha of 4.64%, beta of 0.01, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since September 28, 2023.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (14.34%) than losses (3.74%) - typical of diversified or defensive assets.
- Beta of 0.01 may look defensive, but with R2 of 0.00 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 0.00 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
- 4.64%
- Beta
- 0.01
- R²
- 0.00
- Upside Capture
- 14.34%
- Downside Capture
- 3.74%
Expense Ratio
CGSM has an expense ratio of 0.25%, which is considered low.
Return for Risk
Risk / Return Rank
CGSM ranks 85 for risk / return — above 85% of ETFs peers on PortfoliosLab. Its historical combined result is among the stronger results in the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Capital Group Short Duration Municipal Income ETF (CGSM) 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.
| CGSM | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.96 | ||
| Sortino ratioReturn per unit of downside risk | +1.54 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.25 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.79 | 2.00 | +0.78 |
| Martin ratioReturn relative to average drawdown | 8.73 | 8.49 | +0.24 |
Dividends
Dividend History
Capital Group Short Duration Municipal Income ETF provided a 2.93% dividend yield over the last twelve months, with an annual payout of $0.77 per share.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $0.77 | $0.80 | $0.81 | $0.22 |
Dividend yield | 2.93% | 3.05% | 3.11% | 0.84% |
Monthly Dividends
The table displays the monthly dividend distributions for Capital Group Short Duration 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 | $0.06 | $0.07 | $0.07 | $0.07 | $0.06 | $0.05 | $0.07 | $0.43 | |||||
| 2025 | $0.05 | $0.07 | $0.07 | $0.08 | $0.07 | $0.06 | $0.08 | $0.06 | $0.06 | $0.07 | $0.06 | $0.08 | $0.80 |
| 2024 | $0.06 | $0.07 | $0.08 | $0.08 | $0.08 | $0.07 | $0.03 | $0.06 | $0.06 | $0.08 | $0.06 | $0.09 | $0.81 |
| 2023 | $0.06 | $0.06 | $0.10 | $0.22 |
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 Short Duration 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 Short Duration Municipal Income ETF was 1.42%, occurring on Apr 11, 2025. Recovery took 32 trading sessions.
The current Capital Group Short Duration Municipal Income ETF drawdown is 0.50%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-1.42%Apr 2025 | 1mo 1d | 1mo 18d | 2mo 19dMar 2025 - May 2025 | 2025 selloff2025 |
-1.18%Mar 2026 | 27d | 3mo 2d | 3mo 29dFeb 2026 - Jun 2026 | — |
-1.15%Nov 2024 | 1mo 4d | 26d | 2moOct 2024 - Dec 2024 | — |
-0.90%Dec 2024 | 10d | 1mo 13d | 1mo 23dDec 2024 - Jan 2025 | — |
-0.79%Jan 2024 | 21d | 9d | 1moJan 2024 - Feb 2024 | — |
Drawdown Indicators
| CGSM | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.42% | -56.78% | +55.36% |
Max Drawdown (1Y)Largest decline over 1 year | -1.18% | -9.10% | +7.92% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
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 | -0.50% | -1.58% | +1.08% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -10.70% | +10.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 2.14% | -1.76% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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