BESF vs. CGMU

Last updated Jun 4, 2026

BESF (Bastion Energy ETF) and CGMU (Capital Group Municipal Income ETF) are both exchange-traded funds - BESF is a Energy Equities fund actively managed by Bastion, while CGMU is a Municipal Bonds fund actively managed by Capital Group. Both are actively managed. At a correlation of -0.29, they often move in opposite directions. BESF charges 0.80%/yr vs 0.27%/yr for CGMU.

Performance

BESF vs. CGMU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bastion Energy ETF (BESF) and Capital Group Municipal Income ETF (CGMU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BESF achieves a 19.74% return, which is significantly higher than CGMU's 1.39% return.

BESF

• 1D: 0.68%
• 1M: -4.08%
• YTD: 19.74%
• 6M: 21.51%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CGMU

• 1D: -0.11%
• 1M: 0.45%
• YTD: 1.39%
• 6M: 1.79%
• 1Y: 6.72%
• 3Y*: 4.70%
• 5Y*: —
• 10Y*: —

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

BESF vs. CGMU - Yearly Performance Comparison

	2026 (YTD)	2025
BESF Bastion Energy ETF	19.74%	41.15%
CGMU Capital Group Municipal Income ETF	1.39%	5.10%

Correlation

The correlation between BESF and CGMU is -0.29, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	-0.29

Return for Risk

BESF vs. CGMU — Risk / Return Rank

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

CGMU

CGMU Risk / Return Rank: 75
CGMU Sharpe Ratio Rank: 87
CGMU Sortino Ratio Rank: 89
CGMU Omega Ratio Rank: 92
CGMU Calmar Ratio Rank: 53
CGMU Martin Ratio Rank: 51

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.

BESF vs. CGMU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bastion Energy ETF (BESF) and Capital Group Municipal Income ETF (CGMU). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BESF	CGMU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.94	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.87	1.66	+1.21

Drawdowns

BESF vs. CGMU - Drawdown Comparison

The maximum BESF drawdown since its inception was -9.89%, which is greater than CGMU's maximum drawdown of -4.11%. Use the drawdown chart below to compare losses from any high point for BESF and CGMU.

Drawdown Indicators

	BESF	CGMU	Difference
Max Drawdown Largest peak-to-trough decline	-9.89%	-4.11%	-5.78%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.55%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-3.89%	—
Current Drawdown Current decline from peak	-5.88%	-0.89%	-4.99%
Average Drawdown Average peak-to-trough decline	-2.45%	-0.84%	-1.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.78%	—

Volatility

Volatility by Period

	BESF	CGMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.79%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.72%	—
Volatility (1Y) Calculated over the trailing 1-year period	24.33%	2.29%	+22.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.33%	3.48%	+20.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.33%	3.48%	+20.85%

BESF vs. CGMU - Expense Ratio Comparison

BESF has a 0.80% expense ratio, which is higher than CGMU's 0.27% expense ratio.

Dividends

BESF vs. CGMU - Dividend Comparison

BESF's dividend yield for the trailing twelve months is around 5.68%, more than CGMU's 3.33% yield.

Position	TTM	2025	2024	2023	2022
BESF Bastion Energy ETF	5.68%	6.39%	0.00%	0.00%	0.00%
CGMU Capital Group Municipal Income ETF	3.33%	3.32%	3.21%	3.08%	0.49%

Frequently Asked Questions

Can I hold both BESF and CGMU in my portfolio?

BESF and CGMU have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BESF or CGMU?

On fees, CGMU is cheaper at 0.27% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BESF or CGMU?

CGMU is cheaper with a 0.27% expense ratio, compared with 0.80% for BESF.

Which ETF pays a higher dividend yield, BESF or CGMU?

BESF has the higher dividend yield at 5.68%, compared with 3.33% for CGMU.

What is the main difference between BESF and CGMU?

BESF is categorized as Energy Equities, while CGMU is Municipal Bonds. They also come from different issuers: Bastion and Capital Group. Their fees differ too: 0.80% for BESF and 0.27% for CGMU.