CGHY vs. CGMS

Last updated Jun 6, 2026

CGHY (Capital Group High Yield Bond ETF) and CGMS (Capital Group U.S. Multi-Sector Income ETF) are both exchange-traded funds - CGHY is a High Yield Bonds fund managed by Capital Group, while CGMS is a Multisector Bonds fund actively managed by Capital Group. A 0.79 correlation means they provide meaningful diversification when combined. Both charge a 0.39% expense ratio.

Performance

CGHY vs. CGMS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group High Yield Bond ETF (CGHY) 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, CGHY achieves a 1.65% return, which is significantly higher than CGMS's 1.21% return.

CGHY

• 1D: -0.45%
• 1M: -0.11%
• YTD: 1.65%
• 6M: 2.15%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CGMS

• 1D: -0.47%
• 1M: -0.35%
• YTD: 1.21%
• 6M: 1.64%
• 1Y: 6.47%
• 3Y*: 7.84%
• 5Y*: —
• 10Y*: —

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

CGHY vs. CGMS - Yearly Performance Comparison

	2026 (YTD)	2025
CGHY Capital Group High Yield Bond ETF	1.65%	3.77%
CGMS Capital Group U.S. Multi-Sector Income ETF	1.21%	3.71%

Correlation

The correlation between CGHY and CGMS is 0.79, 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 Jun 27, 2025	0.79

Return for Risk

CGHY vs. CGMS — Risk / Return Rank

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

CGMS

CGMS Risk / Return Rank: 60
CGMS Sharpe Ratio Rank: 58
CGMS Sortino Ratio Rank: 62
CGMS Omega Ratio Rank: 60
CGMS Calmar Ratio Rank: 55
CGMS Martin Ratio Rank: 67

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.

CGHY vs. CGMS - Risk-Adjusted Trends Comparison

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

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

Sharpe Ratios by Period

	CGHY	CGMS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.74	1.64	+0.11

Drawdowns

CGHY vs. CGMS - Drawdown Comparison

The maximum CGHY drawdown since its inception was -2.38%, smaller than the maximum CGMS drawdown of -4.08%. Use the drawdown chart below to compare losses from any high point for CGHY and CGMS.

Drawdown Indicators

	CGHY	CGMS	Difference
Max Drawdown Largest peak-to-trough decline	-2.38%	-4.08%	+1.70%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.47%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.08%	—
Current Drawdown Current decline from peak	-0.59%	-0.58%	-0.01%
Average Drawdown Average peak-to-trough decline	-0.31%	-0.67%	+0.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.55%	—

Volatility

Volatility by Period

	CGHY	CGMS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.19%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.70%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.36%	3.45%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.36%	5.13%	-1.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.36%	5.13%	-1.77%

CGHY vs. CGMS - Expense Ratio Comparison

Both CGHY and CGMS have an expense ratio of 0.39%.

Dividends

CGHY vs. CGMS - Dividend Comparison

CGHY's dividend yield for the trailing twelve months is around 5.10%, less than CGMS's 6.11% yield.

Position	TTM	2025	2024	2023	2022
CGHY Capital Group High Yield Bond ETF	5.10%	3.09%	0.00%	0.00%	0.00%
CGMS Capital Group U.S. Multi-Sector Income ETF	6.11%	6.00%	5.91%	5.84%	0.97%

Frequently Asked Questions

Can I hold both CGHY and CGMS in my portfolio?

CGHY and CGMS have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CGHY or CGMS?

Both ETFs have the same 0.39% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CGHY or CGMS?

CGHY and CGMS have the same expense ratio: 0.39% per year.

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

CGMS has the higher dividend yield at 6.11%, compared with 5.10% for CGHY.

What is the main difference between CGHY and CGMS?

CGHY is categorized as High Yield Bonds, while CGMS is Multisector Bonds.