ABNDX vs. CGMS

Last updated Jun 3, 2026

ABNDX (American Funds The Bond Fund of America) and CGMS (Capital Group U.S. Multi-Sector Income ETF) are both funds - ABNDX is a Intermediate Core Bond fund managed by American Funds, while CGMS is a Multisector Bonds fund actively managed by Capital Group. Over the past 3 years, ABNDX returned 3.67%/yr vs 8.01%/yr for CGMS. A 0.74 correlation means they provide meaningful diversification when combined. ABNDX charges 0.55%/yr vs 0.39%/yr for CGMS.

Performance

ABNDX vs. CGMS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds The Bond Fund of America (ABNDX) and Capital Group U.S. Multi-Sector Income ETF (CGMS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ABNDX achieves a 0.10% return, which is significantly lower than CGMS's 1.80% return.

ABNDX

• 1D: -0.09%
• 1M: 0.08%
• YTD: 0.10%
• 6M: 0.18%
• 1Y: 5.03%
• 3Y*: 3.67%
• 5Y*: -0.23%
• 10Y*: 1.68%

CGMS

• 1D: 0.04%
• 1M: 0.52%
• YTD: 1.80%
• 6M: 2.08%
• 1Y: 7.45%
• 3Y*: 8.01%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ABNDX vs. CGMS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ABNDX American Funds The Bond Fund of America	0.10%	7.16%	1.17%	4.34%	2.66%
CGMS Capital Group U.S. Multi-Sector Income ETF	1.80%	7.52%	7.24%	11.51%	2.61%

Correlation

The correlation between ABNDX and CGMS is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (All Time) Calculated using the full available price history since Oct 28, 2022	0.74

The correlation between ABNDX and CGMS has been stable across timeframes, ranging from 0.74 to 0.77 - a consistent structural relationship.

Return for Risk

ABNDX vs. CGMS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ABNDX

ABNDX Risk / Return Rank: 17
ABNDX Sharpe Ratio Rank: 17
ABNDX Sortino Ratio Rank: 18
ABNDX Omega Ratio Rank: 16
ABNDX Calmar Ratio Rank: 19
ABNDX Martin Ratio Rank: 17

CGMS

CGMS Risk / Return Rank: 67
CGMS Sharpe Ratio Rank: 65
CGMS Sortino Ratio Rank: 72
CGMS Omega Ratio Rank: 69
CGMS Calmar Ratio Rank: 59
CGMS Martin Ratio Rank: 69

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ABNDX vs. CGMS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds The Bond Fund of America (ABNDX) and Capital Group U.S. Multi-Sector Income ETF (CGMS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ABNDX	CGMS	Difference
Sharpe ratio Return per unit of total volatility	1.21	2.19	-0.97
Sortino ratio Return per unit of downside risk	1.83	3.31	-1.48
Omega ratio Gain probability vs. loss probability	1.21	1.42	-0.21
Calmar ratio Return relative to maximum drawdown	1.66	2.93	-1.27
Martin ratio Return relative to average drawdown	5.02	13.15	-8.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ABNDX vs. CGMS - Sharpe Ratio Comparison

The current ABNDX Sharpe Ratio is 1.21, which is lower than the CGMS Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of ABNDX and CGMS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ABNDX	CGMS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.21	2.19	-0.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.04	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	1.68	-0.67

Drawdowns

ABNDX vs. CGMS - Drawdown Comparison

The maximum ABNDX drawdown since its inception was -18.18%, which is greater than CGMS's maximum drawdown of -4.08%. Use the drawdown chart below to compare losses from any high point for ABNDX and CGMS.

Drawdown Indicators

	ABNDX	CGMS	Difference
Max Drawdown Largest peak-to-trough decline	-18.18%	-4.08%	-14.10%
Max Drawdown (1Y) Largest decline over 1 year	-3.13%	-2.47%	-0.66%
Max Drawdown (3Y) Largest decline over 3 years	-6.19%	-4.08%	-2.11%
Max Drawdown (5Y) Largest decline over 5 years	-18.15%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-18.18%	—	—
Current Drawdown Current decline from peak	-3.07%	0.00%	-3.07%
Average Drawdown Average peak-to-trough decline	-3.22%	-0.67%	-2.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	0.55%	+0.49%

Volatility

ABNDX vs. CGMS - Volatility Comparison

American Funds The Bond Fund of America (ABNDX) has a higher volatility of 1.39% compared to Capital Group U.S. Multi-Sector Income ETF (CGMS) at 1.16%. This indicates that ABNDX's price experiences larger fluctuations and is considered to be riskier than CGMS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ABNDX	CGMS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.39%	1.16%	+0.23%
Volatility (6M) Calculated over the trailing 6-month period	2.82%	2.65%	+0.17%
Volatility (1Y) Calculated over the trailing 1-year period	3.94%	3.43%	+0.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.95%	5.13%	+0.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.88%	5.13%	-0.25%

ABNDX vs. CGMS - Expense Ratio Comparison

ABNDX has a 0.55% expense ratio, which is higher than CGMS's 0.39% expense ratio.

Dividends

ABNDX vs. CGMS - Dividend Comparison

ABNDX's dividend yield for the trailing twelve months is around 4.14%, less than CGMS's 6.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ABNDX American Funds The Bond Fund of America	4.14%	4.13%	4.30%	3.24%	2.17%	1.62%	5.03%	3.49%	2.38%	1.84%	1.77%	2.00%
CGMS Capital Group U.S. Multi-Sector Income ETF	6.08%	6.00%	5.91%	5.84%	0.97%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ABNDX and CGMS in my portfolio?

ABNDX and CGMS have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ABNDX or CGMS?

ABNDX has higher volatility (1.39%) compared to CGMS (1.16%). In terms of maximum drawdown, ABNDX dropped -18.18% vs CGMS's -4.08%.

Which has better risk-adjusted returns?

CGMS currently has the higher Sharpe Ratio (2.19 vs 1.21), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.