CGGO vs. CGHY

Last updated Jul 17, 2026

CGGO (Capital Group Global Growth Equity ETF) and CGHY (Capital Group High Yield Bond ETF) are both exchange-traded funds - CGGO is a Global Equities fund actively managed by Capital Group, while CGHY is a High Yield Bonds fund managed by Capital Group. Over the past year, CGGO returned 24.25% vs 6.48% for CGHY. A 0.64 correlation means they provide meaningful diversification when combined. CGGO charges 0.47%/yr vs 0.39%/yr for CGHY.

Performance

CGGO vs. CGHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group Global Growth Equity ETF (CGGO) 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, CGGO achieves a 13.74% return, which is significantly higher than CGHY's 2.26% return.

CGGO

• 1D: -2.04%
• 1M: -4.88%
• 6M: 9.20%
• YTD: 13.74%
• 1Y: 24.25%
• 3Y*: 18.23%
• 5Y*: —
• 10Y*: —

CGHY

• 1D: -0.04%
• 1M: 0.05%
• 6M: 1.60%
• YTD: 2.26%
• 1Y: 6.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CGGO vs. CGHY - Yearly Performance Comparison

	2026 (YTD)	2025
CGGO Capital Group Global Growth Equity ETF	13.74%	12.03%
CGHY Capital Group High Yield Bond ETF	2.26%	3.83%

Correlation

The correlation between CGGO and CGHY 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 Jun 26, 2025	0.64

The correlation between CGGO and CGHY has been stable across timeframes, ranging from 0.64 to 0.66 - a consistent structural relationship.

Return for Risk

CGGO vs. CGHY — Risk / Return Rank

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

CGGO

CGGO Risk / Return Rank: 45
CGGO Sharpe Ratio Rank: 41
CGGO Sortino Ratio Rank: 40
CGGO Omega Ratio Rank: 42
CGGO Calmar Ratio Rank: 44
CGGO Martin Ratio Rank: 56

CGHY

CGHY Risk / Return Rank: 79
CGHY Sharpe Ratio Rank: 77
CGHY Sortino Ratio Rank: 85
CGHY Omega Ratio Rank: 82
CGHY Calmar Ratio Rank: 68
CGHY Martin Ratio Rank: 81

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.

CGGO vs. CGHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group Global Growth Equity ETF (CGGO) 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.

	CGGO	CGHY	Difference
Sharpe ratio: Return per unit of total volatility	1.23	1.96	-0.73
Sortino ratio: Return per unit of downside risk	1.75	3.11	-1.36
Omega ratio: Gain probability vs. loss probability	1.23	1.39	-0.16
Calmar ratio: Return relative to maximum drawdown	1.85	2.74	-0.88
Martin ratio: Return relative to average drawdown	7.69	12.47	-4.78

CGGO vs. CGHY - Sharpe Ratio Comparison

The current CGGO Sharpe Ratio is 1.23, which is lower than the CGHY Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of CGGO 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

CGGO vs. CGHY - Drawdown Comparison

The maximum CGGO drawdown since its inception was -24.90%, which is greater than CGHY's maximum drawdown of -2.38%. Use the drawdown chart below to compare losses from any high point for CGGO and CGHY.

Drawdown Indicators

	CGGO	CGHY	Difference
Max Drawdown Largest peak-to-trough decline	-24.90%	-2.38%	-22.52%
Max Drawdown (1Y) Largest decline over 1 year	-13.15%	-2.38%	-10.77%
Max Drawdown (3Y) Largest decline over 3 years	-17.93%	—	—
Current Drawdown Current decline from peak	-7.47%	-0.12%	-7.35%
Average Drawdown Average peak-to-trough decline	-5.43%	-0.30%	-5.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	0.52%	+2.64%

Volatility

CGGO vs. CGHY - Volatility Comparison

Capital Group Global Growth Equity ETF (CGGO) has a higher volatility of 8.09% compared to Capital Group High Yield Bond ETF (CGHY) at 0.67%. This indicates that CGGO'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

	CGGO	CGHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.09%	0.67%	+7.42%
Volatility (6M) Calculated over the trailing 6-month period	17.76%	2.71%	+15.05%
Volatility (1Y) Calculated over the trailing 1-year period	19.76%	3.31%	+16.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.10%	3.27%	+15.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.10%	3.27%	+15.83%

CGGO vs. CGHY - Expense Ratio Comparison

CGGO has a 0.47% expense ratio, which is higher than CGHY's 0.39% expense ratio.

Dividends

CGGO vs. CGHY - Dividend Comparison

CGGO's dividend yield for the trailing twelve months is around 1.01%, less than CGHY's 5.45% yield.

Position	TTM	2025	2024	2023	2022
CGGO Capital Group Global Growth Equity ETF	1.01%	2.03%	1.10%	0.76%	0.59%
CGHY Capital Group High Yield Bond ETF	5.45%	3.09%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CGGO and CGHY in my portfolio?

CGGO and CGHY 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, CGGO or CGHY?

CGGO has higher volatility (8.09%) compared to CGHY (0.67%). In terms of maximum drawdown, CGGO dropped -24.90% vs CGHY's -2.38%.

Which ETF is better, CGGO or CGHY?

On 1-year performance, CGGO leads with 24.25% vs 6.48% for CGHY. On fees, CGHY is cheaper at 0.39% per year. On volatility, CGHY has been the lower-risk option at 0.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CGGO or CGHY?

Over the 1-year period, CGGO has performed better with a 24.25% return vs 6.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CGGO or CGHY?

CGHY is cheaper with a 0.39% expense ratio, compared with 0.47% for CGGO.

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

CGHY has the higher dividend yield at 5.45%, compared with 1.01% for CGGO.

What is the main difference between CGGO and CGHY?

CGGO is categorized as Global Equities, while CGHY is High Yield Bonds. Their fees differ too: 0.47% for CGGO and 0.39% for CGHY.

Which has better risk-adjusted returns?

CGHY currently has the higher Sharpe Ratio (1.96 vs 1.23), 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.