CGCP vs. CGBL

Last updated Jun 5, 2026

CGCP (Capital Group Core Plus Income ETF) and CGBL (Capital Group Core Balanced ETF) are both exchange-traded funds - CGCP is a Intermediate Core-Plus Bond fund actively managed by Capital Group, while CGBL is a Diversified Portfolio fund actively managed by Capital Group. Both are actively managed. Over the past year, CGCP returned 5.31% vs 18.31% for CGBL. At a 0.42 correlation, their price movements are largely independent. CGCP charges 0.34%/yr vs 0.33%/yr for CGBL.

Performance

CGCP vs. CGBL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group Core Plus Income ETF (CGCP) and Capital Group Core Balanced ETF (CGBL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CGCP achieves a 0.47% return, which is significantly lower than CGBL's 7.54% return.

CGCP

• 1D: 0.13%
• 1M: 0.22%
• YTD: 0.47%
• 6M: 0.72%
• 1Y: 5.31%
• 3Y*: 5.14%
• 5Y*: —
• 10Y*: —

CGBL

• 1D: 0.08%
• 1M: 3.05%
• YTD: 7.54%
• 6M: 8.49%
• 1Y: 18.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CGCP vs. CGBL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CGCP Capital Group Core Plus Income ETF	0.47%	7.35%	2.95%	7.24%
CGBL Capital Group Core Balanced ETF	7.54%	15.33%	16.64%	9.80%

Correlation

The correlation between CGCP and CGBL is 0.53, 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	0.53
Correlation (All Time) Calculated using the full available price history since Sep 29, 2023	0.42

The correlation between CGCP and CGBL shifts across timeframes, from 0.42 (all time) to 0.53 (1 year), reflecting how their relationship changes across market environments.

CGCP vs. CGBL - Sectors Allocation Comparison

Sectors	CGCP	CGBL
Real Estate	97.3%	0.0%
Energy	2.8%	2.0%
Basic Materials	-	7.2%
Communication Services	-	8.4%
Consumer Cyclical	-	8.7%
Consumer Defensive	-	4.2%
Financial Services	-	11.8%
Healthcare	-	8.9%
Industrials	-	16.6%
Technology	-	29.9%
Utilities	-	2.5%

Return for Risk

CGCP vs. CGBL — Risk / Return Rank

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

CGCP

CGCP Risk / Return Rank: 43
CGCP Sharpe Ratio Rank: 43
CGCP Sortino Ratio Rank: 44
CGCP Omega Ratio Rank: 41
CGCP Calmar Ratio Rank: 42
CGCP Martin Ratio Rank: 43

CGBL

CGBL Risk / Return Rank: 57
CGBL Sharpe Ratio Rank: 58
CGBL Sortino Ratio Rank: 60
CGBL Omega Ratio Rank: 58
CGBL Calmar Ratio Rank: 48
CGBL Martin Ratio Rank: 59

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.

CGCP vs. CGBL - Risk-Adjusted Trends Comparison

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

	CGCP	CGBL	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.92	-0.46
Sortino ratio: Return per unit of downside risk	2.15	2.78	-0.63
Omega ratio: Gain probability vs. loss probability	1.26	1.35	-0.09
Calmar ratio: Return relative to maximum drawdown	2.06	2.33	-0.27
Martin ratio: Return relative to average drawdown	6.78	10.36	-3.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CGCP vs. CGBL - Sharpe Ratio Comparison

The current CGCP Sharpe Ratio is 1.46, which is comparable to the CGBL Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of CGCP and CGBL, 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

	CGCP	CGBL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	1.92	-0.46
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	1.72	-1.46

Drawdowns

CGCP vs. CGBL - Drawdown Comparison

The maximum CGCP drawdown since its inception was -15.06%, which is greater than CGBL's maximum drawdown of -11.66%. Use the drawdown chart below to compare losses from any high point for CGCP and CGBL.

Drawdown Indicators

	CGCP	CGBL	Difference
Max Drawdown Largest peak-to-trough decline	-15.06%	-11.66%	-3.40%
Max Drawdown (1Y) Largest decline over 1 year	-2.59%	-7.88%	+5.29%
Max Drawdown (3Y) Largest decline over 3 years	-5.37%	—	—
Current Drawdown Current decline from peak	-1.03%	-0.53%	-0.50%
Average Drawdown Average peak-to-trough decline	-4.92%	-1.29%	-3.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	1.77%	-0.98%

Volatility

CGCP vs. CGBL - Volatility Comparison

The current volatility for Capital Group Core Plus Income ETF (CGCP) is 1.33%, while Capital Group Core Balanced ETF (CGBL) has a volatility of 3.10%. This indicates that CGCP experiences smaller price fluctuations and is considered to be less risky than CGBL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGCP	CGBL	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.33%	3.10%	-1.77%
Volatility (6M) Calculated over the trailing 6-month period	2.73%	7.84%	-5.11%
Volatility (1Y) Calculated over the trailing 1-year period	3.70%	9.60%	-5.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.35%	11.02%	-4.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.35%	11.02%	-4.67%

CGCP vs. CGBL - Expense Ratio Comparison

CGCP has a 0.34% expense ratio, which is higher than CGBL's 0.33% expense ratio.

Dividends

CGCP vs. CGBL - Dividend Comparison

CGCP's dividend yield for the trailing twelve months is around 5.15%, more than CGBL's 1.85% yield.

Position	TTM	2025	2024	2023	2022
CGBL Capital Group Core Balanced ETF	1.85%	1.98%	1.92%	0.48%	0.00%
CGCP Capital Group Core Plus Income ETF	5.15%	5.10%	5.17%	4.98%	2.96%

Frequently Asked Questions

Can I hold both CGCP and CGBL in my portfolio?

CGCP and CGBL have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CGCP or CGBL?

CGBL has higher volatility (3.10%) compared to CGCP (1.33%). In terms of maximum drawdown, CGCP dropped -15.06% vs CGBL's -11.66%.

Which ETF is better, CGCP or CGBL?

On 1-year performance, CGBL leads with 18.31% vs 5.31% for CGCP. On fees, CGBL is cheaper at 0.33% per year. On volatility, CGCP has been the lower-risk option at 1.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CGCP or CGBL?

Over the 1-year period, CGBL has performed better with a 18.31% return vs 5.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CGCP or CGBL?

CGBL is cheaper with a 0.33% expense ratio, compared with 0.34% for CGCP.

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

CGCP has the higher dividend yield at 5.15%, compared with 1.85% for CGBL.

What is the main difference between CGCP and CGBL?

CGCP is categorized as Intermediate Core-Plus Bond, while CGBL is Diversified Portfolio. Their fees differ too: 0.34% for CGCP and 0.33% for CGBL.

Which has better risk-adjusted returns?

CGBL currently has the higher Sharpe Ratio (1.92 vs 1.46), 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.