CGHM vs. TMH

Last updated Jun 25, 2026

CGHM (Capital Group Municipal High-Income ETF) and TMH (Toyota Motor Corporation ADRhedged) are both exchange-traded funds - CGHM is a High Yield Muni fund actively managed by Capital Group, while TMH is a Consumer Discretionary Equities fund tracking the Toyota Motor Corporation Local Shares Total Return. CGHM is actively managed, while TMH is passively managed. A 0.59 correlation means they provide meaningful diversification when combined. CGHM charges 0.34%/yr vs 0.19%/yr for TMH.

Performance

CGHM vs. TMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group Municipal High-Income ETF (CGHM) and Toyota Motor Corporation ADRhedged (TMH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CGHM

• 1D: 0.15%
• 1M: 2.02%
• YTD: 3.24%
• 6M: 3.45%
• 1Y: 9.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TMH

• 1D: 0.63%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CGHM vs. TMH - Yearly Performance Comparison

	2026 (YTD)
CGHM Capital Group Municipal High-Income ETF	1.23%
TMH Toyota Motor Corporation ADRhedged	-9.14%

Correlation

The correlation between CGHM and TMH is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.59

Return for Risk

CGHM vs. TMH — Risk / Return Rank

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

CGHM

CGHM Risk / Return Rank: 89
CGHM Sharpe Ratio Rank: 93
CGHM Sortino Ratio Rank: 94
CGHM Omega Ratio Rank: 95
CGHM Calmar Ratio Rank: 79
CGHM Martin Ratio Rank: 81

TMH

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

CGHM vs. TMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group Municipal High-Income ETF (CGHM) and Toyota Motor Corporation ADRhedged (TMH). 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.

	CGHM	TMH	Difference
Sharpe ratio: Return per unit of total volatility	2.98	—	—
Sortino ratio: Return per unit of downside risk	4.38	—	—
Omega ratio: Gain probability vs. loss probability	1.68	—	—
Calmar ratio: Return relative to maximum drawdown	3.62	—	—
Martin ratio: Return relative to average drawdown	14.05	—	—

Drawdowns

CGHM vs. TMH - Drawdown Comparison

The maximum CGHM drawdown since its inception was -5.90%, smaller than the maximum TMH drawdown of -10.20%. Use the drawdown chart below to compare losses from any high point for CGHM and TMH.

Drawdown Indicators

	CGHM	TMH	Difference
Max Drawdown Largest peak-to-trough decline	-5.90%	-10.20%	+4.30%
Max Drawdown (1Y) Largest decline over 1 year	-2.55%	—	—
Current Drawdown Current decline from peak	0.00%	-9.63%	+9.63%
Average Drawdown Average peak-to-trough decline	-1.21%	-5.98%	+4.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	—	—

Volatility

Volatility by Period

	CGHM	TMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.74%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.23%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.10%	25.57%	-22.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.47%	25.57%	-21.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.47%	25.57%	-21.10%

CGHM vs. TMH - Expense Ratio Comparison

CGHM has a 0.34% expense ratio, which is higher than TMH's 0.19% expense ratio.

Dividends

CGHM vs. TMH - Dividend Comparison

CGHM's dividend yield for the trailing twelve months is around 3.78%, less than TMH's 5.24% yield.

Position	TTM	2025	2024
CGHM Capital Group Municipal High-Income ETF	3.78%	3.61%	1.78%
TMH Toyota Motor Corporation ADRhedged	5.24%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CGHM and TMH in my portfolio?

CGHM and TMH have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CGHM or TMH?

On fees, TMH is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CGHM or TMH?

TMH is cheaper with a 0.19% expense ratio, compared with 0.34% for CGHM.

Which ETF pays a higher dividend yield, CGHM or TMH?

TMH has the higher dividend yield at 5.24%, compared with 3.78% for CGHM.

What is the main difference between CGHM and TMH?

CGHM is categorized as High Yield Muni, while TMH is Consumer Discretionary Equities. They also come from different issuers: Capital Group and ADRhedged. Their fees differ too: 0.34% for CGHM and 0.19% for TMH.