CCCMX vs. ATOIX
CCCMX (Capital Group California Core Municipal Fund) and ATOIX (abrdn Ultra Short Municipal Income Fund) are both Municipal Bonds funds. Over the past 10 years, CCCMX returned 1.33%/yr vs 1.82%/yr for ATOIX. Their 0.11 correlation means their historical movements had little consistent relationship. CCCMX charges 0.27%/yr vs 0.44%/yr for ATOIX.
Performance
CCCMX vs. ATOIX - Performance Comparison
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Returns By Period
In the year-to-date period, CCCMX achieves a -0.20% return, which is significantly lower than ATOIX's 1.46% return. Over the past 10 years, CCCMX has underperformed ATOIX with an annualized return of 1.33%, while ATOIX has yielded a comparatively higher 1.82% annualized return.
CCCMX
- 1D
- 0.00%
- 1M
- -1.02%
- 6M
- -0.99%
- YTD
- -0.20%
- 1Y
- 2.43%
- 3Y*
- 2.84%
- 5Y*
- 0.90%
- 10Y*
- 1.33%
- ALL TIME*
- 1.30%
ATOIX
- 1D
- 0.00%
- 1M
- 0.22%
- 6M
- 1.20%
- YTD
- 1.46%
- 1Y
- 2.99%
- 3Y*
- 3.02%
- 5Y*
- 2.39%
- 10Y*
- 1.82%
- ALL TIME*
- 1.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
CCCMX vs. ATOIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CCCMX Capital Group California Core Municipal Fund | -0.20% | 4.69% | 1.42% | 3.46% | -4.27% | 0.02% | 3.81% | 4.61% | 1.70% | 2.39% |
ATOIX abrdn Ultra Short Municipal Income Fund | 1.46% | 3.33% | 3.14% | 3.27% | 0.87% | -0.04% | 0.88% | 1.40% | 1.54% | 2.24% |
Correlation
The correlation between CCCMX and ATOIX is 0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.10 |
Correlation (3Y) Balances recent behavior with more history. | 0.17 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.18 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.14 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2010 | 0.11 |
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Return for Risk
CCCMX vs. ATOIX — Risk / Return Rank
CCCMX
ATOIX
CCCMX vs. ATOIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Capital Group California Core Municipal Fund (CCCMX) and abrdn Ultra Short Municipal Income Fund (ATOIX). 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.
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.
| CCCMX | ATOIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.00 | ||
| Sortino ratioReturn per unit of downside risk | -15.14 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 10.88 | -9.52 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | 30.15 | -29.00 |
| Martin ratioReturn relative to average drawdown | 2.83 | 88.71 | -85.88 |
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Drawdowns
CCCMX vs. ATOIX - Drawdown Comparison
The maximum CCCMX drawdown since its inception was -7.58%, which is greater than ATOIX's maximum drawdown of -1.46%. Use the drawdown chart below to compare losses from any high point for CCCMX and ATOIX.
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Drawdown Indicators
| CCCMX | ATOIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.58% | -1.46% | -6.12% |
Max Drawdown (1Y)Largest decline over 1 year | -2.37% | -0.10% | -2.27% |
Max Drawdown (3Y)Largest decline over 3 years | -3.02% | -0.10% | -2.92% |
Max Drawdown (5Y)Largest decline over 5 years | -7.25% | -0.37% | -6.88% |
Max Drawdown (10Y)Largest decline over 10 years | -7.58% | -0.43% | -7.15% |
Current DrawdownCurrent decline from peak | -1.93% | 0.00% | -1.93% |
Average DrawdownAverage peak-to-trough decline | -1.64% | -0.06% | -1.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 0.03% | +0.94% |
Volatility
CCCMX vs. ATOIX - Volatility Comparison
Capital Group California Core Municipal Fund (CCCMX) has a higher volatility of 0.68% compared to abrdn Ultra Short Municipal Income Fund (ATOIX) at 0.22%. This indicates that CCCMX's price experiences larger fluctuations and is considered to be riskier than ATOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CCCMX | ATOIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.68% | 0.22% | +0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 1.54% | 0.53% | +1.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.83% | 0.89% | +0.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.34% | 0.84% | +1.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.42% | 0.79% | +1.63% |
CCCMX vs. ATOIX - Expense Ratio Comparison
CCCMX has a 0.27% expense ratio, which is lower than ATOIX's 0.44% expense ratio.
Dividends
CCCMX vs. ATOIX - Dividend Comparison
CCCMX's dividend yield for the trailing twelve months is around 2.63%, less than ATOIX's 2.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ATOIX abrdn Ultra Short Municipal Income Fund | 2.94% | 3.27% | 3.09% | 3.02% | 1.07% | 0.06% | 0.88% | 1.39% | 1.42% | 2.20% | 0.61% | 0.52% |
CCCMX Capital Group California Core Municipal Fund | 2.63% | 2.51% | 2.39% | 1.71% | 1.11% | 1.61% | 2.35% | 1.95% | 1.97% | 1.41% | 0.00% | 0.00% |
Frequently Asked Questions
CCCMX and ATOIX have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CCCMX has higher volatility (0.68%) compared to ATOIX (0.22%). In terms of maximum drawdown, CCCMX dropped -7.58% vs ATOIX's -1.46%.
ATOIX currently has the higher Sharpe Ratio (3.49 vs 1.49), 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.
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