CGMM vs. CGMS

Last updated Jun 4, 2026

CGMM (Capital Group U.S. Small and Mid Cap ETF) and CGMS (Capital Group U.S. Multi-Sector Income ETF) are both exchange-traded funds - CGMM is a Mid Cap Blend Equities fund actively managed by Capital Group, while CGMS is a Multisector Bonds fund actively managed by Capital Group. Both are actively managed. Over the past year, CGMM returned 23.39% vs 7.10% for CGMS. A 0.53 correlation means they provide meaningful diversification when combined. CGMM charges 0.51%/yr vs 0.39%/yr for CGMS.

Performance

CGMM vs. CGMS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group U.S. Small and Mid Cap ETF (CGMM) 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, CGMM achieves a 10.58% return, which is significantly higher than CGMS's 1.54% return.

CGMM

• 1D: -0.62%
• 1M: 1.79%
• YTD: 10.58%
• 6M: 11.78%
• 1Y: 23.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CGMS

• 1D: -0.25%
• 1M: 0.56%
• YTD: 1.54%
• 6M: 1.68%
• 1Y: 7.10%
• 3Y*: 7.92%
• 5Y*: —
• 10Y*: —

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

CGMM vs. CGMS - Yearly Performance Comparison

	2026 (YTD)	2025
CGMM Capital Group U.S. Small and Mid Cap ETF	10.58%	11.46%
CGMS Capital Group U.S. Multi-Sector Income ETF	1.54%	7.24%

Correlation

The correlation between CGMM and CGMS is 0.52, 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	0.52
Correlation (All Time) Calculated using the full available price history since Jan 17, 2025	0.53

The correlation between CGMM and CGMS has been stable across timeframes, ranging from 0.52 to 0.53 - a consistent structural relationship.

CGMM vs. CGMS - Sectors Allocation Comparison

Sectors	CGMM	CGMS
Industrials	21.7%	-
Technology	17.6%	8.2%
Financial Services	15.4%	-
Consumer Cyclical	14.7%	-
Healthcare	9.0%	-
Consumer Defensive	5.8%	-
Communication Services	3.5%	-
Energy	3.4%	-
Utilities	3.1%	-
Basic Materials	3.0%	-
Real Estate	2.8%	91.8%

Return for Risk

CGMM vs. CGMS — Risk / Return Rank

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

CGMM

CGMM Risk / Return Rank: 45
CGMM Sharpe Ratio Rank: 42
CGMM Sortino Ratio Rank: 43
CGMM Omega Ratio Rank: 39
CGMM Calmar Ratio Rank: 47
CGMM Martin Ratio Rank: 52

CGMS

CGMS Risk / Return Rank: 63
CGMS Sharpe Ratio Rank: 60
CGMS Sortino Ratio Rank: 67
CGMS Omega Ratio Rank: 64
CGMS Calmar Ratio Rank: 57
CGMS Martin Ratio Rank: 69

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.

CGMM vs. CGMS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group U.S. Small and Mid Cap ETF (CGMM) 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.

	CGMM	CGMS	Difference
Sharpe ratio: Return per unit of total volatility	1.49	2.08	-0.59
Sortino ratio: Return per unit of downside risk	2.18	3.14	-0.96
Omega ratio: Gain probability vs. loss probability	1.26	1.39	-0.13
Calmar ratio: Return relative to maximum drawdown	2.33	2.88	-0.56
Martin ratio: Return relative to average drawdown	8.94	12.89	-3.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CGMM vs. CGMS - Sharpe Ratio Comparison

The current CGMM Sharpe Ratio is 1.49, which is comparable to the CGMS Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of CGMM and CGMS, 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

	CGMM	CGMS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.49	2.08	-0.59
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	1.66	-0.85

Drawdowns

CGMM vs. CGMS - Drawdown Comparison

The maximum CGMM drawdown since its inception was -21.04%, which is greater than CGMS's maximum drawdown of -4.08%. Use the drawdown chart below to compare losses from any high point for CGMM and CGMS.

Drawdown Indicators

	CGMM	CGMS	Difference
Max Drawdown Largest peak-to-trough decline	-21.04%	-4.08%	-16.96%
Max Drawdown (1Y) Largest decline over 1 year	-10.09%	-2.47%	-7.62%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.08%	—
Current Drawdown Current decline from peak	-0.62%	-0.25%	-0.37%
Average Drawdown Average peak-to-trough decline	-3.25%	-0.67%	-2.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	0.55%	+2.07%

Volatility

CGMM vs. CGMS - Volatility Comparison

Capital Group U.S. Small and Mid Cap ETF (CGMM) has a higher volatility of 3.73% compared to Capital Group U.S. Multi-Sector Income ETF (CGMS) at 1.15%. This indicates that CGMM's price experiences larger fluctuations and is considered to be riskier than CGMS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGMM	CGMS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	1.15%	+2.58%
Volatility (6M) Calculated over the trailing 6-month period	11.79%	2.66%	+9.13%
Volatility (1Y) Calculated over the trailing 1-year period	15.80%	3.43%	+12.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.29%	5.13%	+15.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.29%	5.13%	+15.16%

CGMM vs. CGMS - Expense Ratio Comparison

CGMM has a 0.51% expense ratio, which is higher than CGMS's 0.39% expense ratio.

Dividends

CGMM vs. CGMS - Dividend Comparison

CGMM's dividend yield for the trailing twelve months is around 0.36%, less than CGMS's 6.09% yield.

Position	TTM	2025	2024	2023	2022
CGMM Capital Group U.S. Small and Mid Cap ETF	0.36%	0.40%	0.00%	0.00%	0.00%
CGMS Capital Group U.S. Multi-Sector Income ETF	6.09%	6.00%	5.91%	5.84%	0.97%

Frequently Asked Questions

Can I hold both CGMM and CGMS in my portfolio?

CGMM and CGMS have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CGMM or CGMS?

CGMM has higher volatility (3.73%) compared to CGMS (1.15%). In terms of maximum drawdown, CGMM dropped -21.04% vs CGMS's -4.08%.

Which ETF is better, CGMM or CGMS?

On 1-year performance, CGMM leads with 23.39% vs 7.10% for CGMS. On fees, CGMS is cheaper at 0.39% per year. On volatility, CGMS has been the lower-risk option at 1.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CGMM or CGMS?

Over the 1-year period, CGMM has performed better with a 23.39% return vs 7.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CGMM or CGMS?

CGMS is cheaper with a 0.39% expense ratio, compared with 0.51% for CGMM.

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

CGMS has the higher dividend yield at 6.09%, compared with 0.36% for CGMM.

What is the main difference between CGMM and CGMS?

CGMM is categorized as Mid Cap Blend Equities, while CGMS is Multisector Bonds. Their fees differ too: 0.51% for CGMM and 0.39% for CGMS.

Which has better risk-adjusted returns?

CGMS currently has the higher Sharpe Ratio (2.08 vs 1.49), 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.