CGCV vs. CGHY

Last updated Jul 14, 2026

CGCV (Capital Group Conservative Equity ETF) and CGHY (Capital Group High Yield Bond ETF) are both exchange-traded funds - CGCV is a Large Cap Value Equities fund actively managed by Capital Group, while CGHY is a High Yield Bonds fund managed by Capital Group. Over the past year, CGCV returned 15.69% vs 5.97% for CGHY. A 0.62 correlation means they provide meaningful diversification when combined. CGCV charges 0.33%/yr vs 0.39%/yr for CGHY.

Performance

CGCV vs. CGHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group Conservative Equity ETF (CGCV) and Capital Group High Yield Bond ETF (CGHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CGCV achieves a 9.03% return, which is significantly higher than CGHY's 1.90% return.

CGCV

• 1D: -0.35%
• 1M: 2.30%
• 6M: 6.76%
• YTD: 9.03%
• 1Y: 15.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CGHY

• 1D: -0.24%
• 1M: -0.15%
• 6M: 1.50%
• YTD: 1.90%
• 1Y: 5.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CGCV vs. CGHY - Yearly Performance Comparison

	2026 (YTD)	2025
CGCV Capital Group Conservative Equity ETF	9.03%	9.08%
CGHY Capital Group High Yield Bond ETF	1.90%	3.83%

Correlation

The correlation between CGCV and CGHY is 0.62, 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	0.62
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.62

The correlation between CGCV and CGHY has been stable across timeframes, ranging from 0.62 to 0.62 - a consistent structural relationship.

Return for Risk

CGCV vs. CGHY — Risk / Return Rank

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

CGCV

CGCV Risk / Return Rank: 57
CGCV Sharpe Ratio Rank: 61
CGCV Sortino Ratio Rank: 60
CGCV Omega Ratio Rank: 59
CGCV Calmar Ratio Rank: 49
CGCV Martin Ratio Rank: 58

CGHY

CGHY Risk / Return Rank: 74
CGHY Sharpe Ratio Rank: 71
CGHY Sortino Ratio Rank: 81
CGHY Omega Ratio Rank: 76
CGHY Calmar Ratio Rank: 64
CGHY Martin Ratio Rank: 78

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.

CGCV vs. CGHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group Conservative Equity ETF (CGCV) and Capital Group High Yield Bond ETF (CGHY). 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.

	CGCV	CGHY	Difference
Sharpe ratio: Return per unit of total volatility	1.60	1.81	-0.21
Sortino ratio: Return per unit of downside risk	2.26	2.87	-0.61
Omega ratio: Gain probability vs. loss probability	1.29	1.36	-0.07
Calmar ratio: Return relative to maximum drawdown	1.99	2.52	-0.54
Martin ratio: Return relative to average drawdown	8.01	11.50	-3.49

CGCV vs. CGHY - Sharpe Ratio Comparison

The current CGCV Sharpe Ratio is 1.60, which is comparable to the CGHY Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of CGCV and CGHY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CGCV vs. CGHY - Drawdown Comparison

The maximum CGCV drawdown since its inception was -13.13%, which is greater than CGHY's maximum drawdown of -2.38%. Use the drawdown chart below to compare losses from any high point for CGCV and CGHY.

Drawdown Indicators

	CGCV	CGHY	Difference
Max Drawdown Largest peak-to-trough decline	-13.13%	-2.38%	-10.75%
Max Drawdown (1Y) Largest decline over 1 year	-7.93%	-2.38%	-5.55%
Current Drawdown Current decline from peak	-0.35%	-0.47%	+0.12%
Average Drawdown Average peak-to-trough decline	-1.60%	-0.30%	-1.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	0.52%	+1.44%

Volatility

CGCV vs. CGHY - Volatility Comparison

Capital Group Conservative Equity ETF (CGCV) has a higher volatility of 2.29% compared to Capital Group High Yield Bond ETF (CGHY) at 0.75%. This indicates that CGCV's price experiences larger fluctuations and is considered to be riskier than CGHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGCV	CGHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.29%	0.75%	+1.54%
Volatility (6M) Calculated over the trailing 6-month period	7.60%	2.70%	+4.90%
Volatility (1Y) Calculated over the trailing 1-year period	9.86%	3.31%	+6.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.47%	3.28%	+9.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.47%	3.28%	+9.19%

CGCV vs. CGHY - Expense Ratio Comparison

CGCV has a 0.33% expense ratio, which is lower than CGHY's 0.39% expense ratio.

Dividends

CGCV vs. CGHY - Dividend Comparison

CGCV's dividend yield for the trailing twelve months is around 1.45%, less than CGHY's 5.47% yield.

Position	TTM	2025	2024
CGCV Capital Group Conservative Equity ETF	1.45%	1.44%	0.68%
CGHY Capital Group High Yield Bond ETF	5.47%	3.09%	0.00%

Frequently Asked Questions

Can I hold both CGCV and CGHY in my portfolio?

CGCV and CGHY have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CGCV or CGHY?

CGCV has higher volatility (2.29%) compared to CGHY (0.75%). In terms of maximum drawdown, CGCV dropped -13.13% vs CGHY's -2.38%.

Which ETF is better, CGCV or CGHY?

On 1-year performance, CGCV leads with 15.69% vs 5.97% for CGHY. On fees, CGCV is cheaper at 0.33% per year. On volatility, CGHY has been the lower-risk option at 0.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CGCV or CGHY?

Over the 1-year period, CGCV has performed better with a 15.69% return vs 5.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CGCV or CGHY?

CGCV is cheaper with a 0.33% expense ratio, compared with 0.39% for CGHY.

Which ETF pays a higher dividend yield, CGCV or CGHY?

CGHY has the higher dividend yield at 5.47%, compared with 1.45% for CGCV.

What is the main difference between CGCV and CGHY?

CGCV is categorized as Large Cap Value Equities, while CGHY is High Yield Bonds. Their fees differ too: 0.33% for CGCV and 0.39% for CGHY.

Which has better risk-adjusted returns?

CGHY currently has the higher Sharpe Ratio (1.81 vs 1.60), 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.