CCCMX vs. HIMFX
CCCMX (Capital Group California Core Municipal Fund) and HIMFX (American High-Income Municipal Bond Fund Class F-3) are both mutual funds - CCCMX is a Municipal Bonds fund managed by Capital Group, while HIMFX is a High Yield Muni fund actively managed by Capital Group. Over the past 5 years, CCCMX returned 0.90%/yr vs 1.30%/yr for HIMFX. Their 0.73 correlation means they have sometimes moved together and sometimes differently. CCCMX charges 0.27%/yr vs 0.31%/yr for HIMFX.
Performance
CCCMX vs. HIMFX - 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 HIMFX's 1.52% return.
CCCMX
- 1D
- -0.16%
- 1M
- -1.02%
- 6M
- -0.99%
- YTD
- -0.20%
- 1Y
- 2.43%
- 3Y*
- 2.81%
- 5Y*
- 0.90%
- 10Y*
- 1.32%
- ALL TIME*
- 1.30%
HIMFX
- 1D
- -0.26%
- 1M
- -1.87%
- 6M
- 0.85%
- YTD
- 1.52%
- 1Y
- 6.78%
- 3Y*
- 5.31%
- 5Y*
- 1.30%
- 10Y*
- —
- ALL TIME*
- 3.75%
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. HIMFX - 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% | 1.90% |
HIMFX American High-Income Municipal Bond Fund Class F-3 | 1.52% | 4.69% | 6.23% | 7.89% | -12.36% | 5.60% | 4.74% | 8.92% | 1.91% | 8.22% |
Correlation
The correlation between CCCMX and HIMFX is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.75 |
Correlation (3Y) Balances recent behavior with more history. | 0.79 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.80 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017 | 0.73 |
The correlation between CCCMX and HIMFX has been stable across timeframes, ranging from 0.73 to 0.80 - a consistent structural relationship.
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Return for Risk
CCCMX vs. HIMFX — Risk / Return Rank
CCCMX
HIMFX
CCCMX vs. HIMFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Capital Group California Core Municipal Fund (CCCMX) and American High-Income Municipal Bond Fund Class F-3 (HIMFX). 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 | HIMFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -1.98 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.61 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.20 | 2.88 | -1.68 |
| Martin ratioReturn relative to average drawdown | 2.96 | 10.12 | -7.16 |
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Drawdowns
CCCMX vs. HIMFX - Drawdown Comparison
The maximum CCCMX drawdown since its inception was -7.58%, smaller than the maximum HIMFX drawdown of -17.57%. Use the drawdown chart below to compare losses from any high point for CCCMX and HIMFX.
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Drawdown Indicators
| CCCMX | HIMFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.58% | -17.57% | +9.99% |
Max Drawdown (1Y)Largest decline over 1 year | -2.37% | -2.76% | +0.39% |
Max Drawdown (3Y)Largest decline over 3 years | -3.02% | -6.14% | +3.12% |
Max Drawdown (5Y)Largest decline over 5 years | -7.25% | -17.57% | +10.32% |
Max Drawdown (10Y)Largest decline over 10 years | -7.58% | — | — |
Current DrawdownCurrent decline from peak | -1.93% | -1.87% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -1.64% | -3.13% | +1.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.79% | +0.17% |
Volatility
CCCMX vs. HIMFX - Volatility Comparison
The current volatility for Capital Group California Core Municipal Fund (CCCMX) is 0.68%, while American High-Income Municipal Bond Fund Class F-3 (HIMFX) has a volatility of 0.92%. This indicates that CCCMX experiences smaller price fluctuations and is considered to be less risky than HIMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CCCMX | HIMFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.68% | 0.92% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 1.54% | 2.39% | -0.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.83% | 3.09% | -1.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.34% | 4.85% | -2.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.42% | 4.57% | -2.15% |
CCCMX vs. HIMFX - Expense Ratio Comparison
CCCMX has a 0.27% expense ratio, which is lower than HIMFX's 0.31% expense ratio.
Dividends
CCCMX vs. HIMFX - Dividend Comparison
CCCMX's dividend yield for the trailing twelve months is around 2.63%, less than HIMFX's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
HIMFX American High-Income Municipal Bond Fund Class F-3 | 3.91% | 4.32% | 3.83% | 3.71% | 2.80% | 3.54% | 3.73% | 3.49% | 3.99% | 3.61% |
Frequently Asked Questions
CCCMX and HIMFX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HIMFX has higher volatility (0.92%) compared to CCCMX (0.68%). In terms of maximum drawdown, CCCMX dropped -7.58% vs HIMFX's -17.57%.
HIMFX currently has the higher Sharpe Ratio (2.58 vs 1.55), 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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