CGBL vs. CGMS

Last updated Jun 4, 2026

CGBL (Capital Group Core Balanced ETF) and CGMS (Capital Group U.S. Multi-Sector Income ETF) are both exchange-traded funds - CGBL is a Diversified Portfolio fund actively managed by Capital Group, while CGMS is a Multisector Bonds fund actively managed by Capital Group. Both are actively managed. Over the past year, CGBL returned 18.61% vs 7.10% for CGMS. A 0.58 correlation means they provide meaningful diversification when combined. CGBL charges 0.33%/yr vs 0.39%/yr for CGMS.

Performance

CGBL vs. CGMS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group Core Balanced ETF (CGBL) 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, CGBL achieves a 7.45% return, which is significantly higher than CGMS's 1.54% return.

CGBL

• 1D: -0.60%
• 1M: 3.64%
• YTD: 7.45%
• 6M: 8.19%
• 1Y: 18.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CGMS

• 1D: -0.25%
• 1M: 0.56%
• YTD: 1.54%
• 6M: 1.68%
• 1Y: 7.10%
• 3Y*: 7.92%
• 5Y*: —
• 10Y*: —

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

CGBL vs. CGMS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CGBL Capital Group Core Balanced ETF	7.45%	15.33%	16.64%	9.80%
CGMS Capital Group U.S. Multi-Sector Income ETF	1.54%	7.52%	7.24%	7.47%

Correlation

The correlation between CGBL and CGMS is 0.66, 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	0.66
Correlation (All Time) Calculated using the full available price history since Sep 29, 2023	0.58

The correlation between CGBL and CGMS has been stable across timeframes, ranging from 0.58 to 0.66 - a consistent structural relationship.

CGBL vs. CGMS - Sectors Allocation Comparison

Sectors	CGBL	CGMS
Technology	29.9%	8.2%
Industrials	16.6%	-
Financial Services	11.8%	-
Healthcare	8.9%	-
Consumer Cyclical	8.7%	-
Communication Services	8.4%	-
Basic Materials	7.2%	-
Consumer Defensive	4.2%	-
Utilities	2.5%	-
Energy	2.0%	-
Real Estate	0.0%	91.8%

Return for Risk

CGBL vs. CGMS — Risk / Return Rank

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

CGBL

CGBL Risk / Return Rank: 55
CGBL Sharpe Ratio Rank: 56
CGBL Sortino Ratio Rank: 58
CGBL Omega Ratio Rank: 57
CGBL Calmar Ratio Rank: 47
CGBL Martin Ratio Rank: 59

CGMS

CGMS Risk / Return Rank: 63
CGMS Sharpe Ratio Rank: 60
CGMS Sortino Ratio Rank: 67
CGMS Omega Ratio Rank: 64
CGMS Calmar Ratio Rank: 57
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.

CGBL vs. CGMS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group Core Balanced ETF (CGBL) 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.

	CGBL	CGMS	Difference
Sharpe ratio: Return per unit of total volatility	1.95	2.08	-0.13
Sortino ratio: Return per unit of downside risk	2.82	3.14	-0.31
Omega ratio: Gain probability vs. loss probability	1.35	1.39	-0.04
Calmar ratio: Return relative to maximum drawdown	2.37	2.88	-0.51
Martin ratio: Return relative to average drawdown	10.54	12.89	-2.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CGBL vs. CGMS - Sharpe Ratio Comparison

The current CGBL Sharpe Ratio is 1.95, which is comparable to the CGMS Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of CGBL 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

	CGBL	CGMS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.95	2.08	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	1.72	1.66	+0.06

Drawdowns

CGBL vs. CGMS - Drawdown Comparison

The maximum CGBL drawdown since its inception was -11.66%, which is greater than CGMS's maximum drawdown of -4.08%. Use the drawdown chart below to compare losses from any high point for CGBL and CGMS.

Drawdown Indicators

	CGBL	CGMS	Difference
Max Drawdown Largest peak-to-trough decline	-11.66%	-4.08%	-7.58%
Max Drawdown (1Y) Largest decline over 1 year	-7.88%	-2.47%	-5.41%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.08%	—
Current Drawdown Current decline from peak	-0.60%	-0.25%	-0.35%
Average Drawdown Average peak-to-trough decline	-1.29%	-0.67%	-0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.77%	0.55%	+1.22%

Volatility

CGBL vs. CGMS - Volatility Comparison

Capital Group Core Balanced ETF (CGBL) has a higher volatility of 3.14% compared to Capital Group U.S. Multi-Sector Income ETF (CGMS) at 1.15%. This indicates that CGBL'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

	CGBL	CGMS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.14%	1.15%	+1.99%
Volatility (6M) Calculated over the trailing 6-month period	7.85%	2.66%	+5.19%
Volatility (1Y) Calculated over the trailing 1-year period	9.61%	3.43%	+6.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.03%	5.13%	+5.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.03%	5.13%	+5.90%

CGBL vs. CGMS - Expense Ratio Comparison

CGBL has a 0.33% expense ratio, which is lower than CGMS's 0.39% expense ratio.

Dividends

CGBL vs. CGMS - Dividend Comparison

CGBL's dividend yield for the trailing twelve months is around 1.86%, less than CGMS's 6.09% yield.

Position	TTM	2025	2024	2023	2022
CGBL Capital Group Core Balanced ETF	1.86%	1.98%	1.92%	0.48%	0.00%
CGMS Capital Group U.S. Multi-Sector Income ETF	6.09%	6.00%	5.91%	5.84%	0.97%

Frequently Asked Questions

Can I hold both CGBL and CGMS in my portfolio?

CGBL and CGMS have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CGBL or CGMS?

CGBL has higher volatility (3.14%) compared to CGMS (1.15%). In terms of maximum drawdown, CGBL dropped -11.66% vs CGMS's -4.08%.

Which ETF is better, CGBL or CGMS?

On 1-year performance, CGBL leads with 18.61% vs 7.10% for CGMS. On fees, CGBL is cheaper at 0.33% per year. On volatility, CGMS has been the lower-risk option at 1.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CGBL or CGMS?

Over the 1-year period, CGBL has performed better with a 18.61% return vs 7.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CGBL or CGMS?

CGBL is cheaper with a 0.33% expense ratio, compared with 0.39% for CGMS.

Which ETF pays a higher dividend yield, CGBL or CGMS?

CGMS has the higher dividend yield at 6.09%, compared with 1.86% for CGBL.

What is the main difference between CGBL and CGMS?

CGBL is categorized as Diversified Portfolio, while CGMS is Multisector Bonds. Their fees differ too: 0.33% for CGBL and 0.39% for CGMS.

Which has better risk-adjusted returns?

CGMS currently has the higher Sharpe Ratio (2.08 vs 1.95), 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.