CGMM vs. CPAI

Last updated Jun 4, 2026

CGMM (Capital Group U.S. Small and Mid Cap ETF) and CPAI (Counterpoint Quantitative Equity ETF) are both Mid Cap Blend Equities funds. Both are actively managed. Over the past year, CGMM returned 23.39% vs 45.47% for CPAI. A 0.76 correlation means they provide meaningful diversification when combined. CGMM charges 0.51%/yr vs 0.75%/yr for CPAI.

Performance

CGMM vs. CPAI - 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 Counterpoint Quantitative Equity ETF (CPAI). 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 lower than CPAI's 27.41% return.

CGMM

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

CPAI

• 1D: -1.84%
• 1M: 8.24%
• YTD: 27.41%
• 6M: 29.49%
• 1Y: 45.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CGMM vs. CPAI - Yearly Performance Comparison

	2026 (YTD)	2025
CGMM Capital Group U.S. Small and Mid Cap ETF	10.58%	11.46%
CPAI Counterpoint Quantitative Equity ETF	27.41%	12.60%

Correlation

The correlation between CGMM and CPAI is 0.72, 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	0.72
Correlation (All Time) Calculated using the full available price history since Jan 17, 2025	0.76

The correlation between CGMM and CPAI has been stable across timeframes, ranging from 0.72 to 0.76 - a consistent structural relationship.

CGMM vs. CPAI - Sectors Allocation Comparison

Sectors	CGMM	CPAI
Industrials	21.7%	5.7%
Technology	17.6%	45.4%
Financial Services	15.4%	4.3%
Consumer Cyclical	14.7%	4.2%
Healthcare	9.0%	16.0%
Consumer Defensive	5.8%	9.5%
Communication Services	3.5%	7.9%
Energy	3.4%	3.7%
Utilities	3.1%	-
Basic Materials	3.0%	3.3%
Real Estate	2.8%	-

Return for Risk

CGMM vs. CPAI — 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

CPAI

CPAI Risk / Return Rank: 77
CPAI Sharpe Ratio Rank: 78
CPAI Sortino Ratio Rank: 73
CPAI Omega Ratio Rank: 71
CPAI Calmar Ratio Rank: 82
CPAI 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.

CGMM vs. CPAI - 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 Counterpoint Quantitative Equity ETF (CPAI). 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	CPAI	Difference
Sharpe ratio: Return per unit of total volatility	1.49	2.52	-1.03
Sortino ratio: Return per unit of downside risk	2.18	3.33	-1.15
Omega ratio: Gain probability vs. loss probability	1.26	1.43	-0.17
Calmar ratio: Return relative to maximum drawdown	2.33	4.36	-2.03
Martin ratio: Return relative to average drawdown	8.94	15.90	-6.96
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. CPAI - Sharpe Ratio Comparison

The current CGMM Sharpe Ratio is 1.49, which is lower than the CPAI Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of CGMM and CPAI, 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	CPAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.49	2.52	-1.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	1.78	-0.96

Drawdowns

CGMM vs. CPAI - Drawdown Comparison

The maximum CGMM drawdown since its inception was -21.04%, roughly equal to the maximum CPAI drawdown of -21.46%. Use the drawdown chart below to compare losses from any high point for CGMM and CPAI.

Drawdown Indicators

	CGMM	CPAI	Difference
Max Drawdown Largest peak-to-trough decline	-21.04%	-21.46%	+0.42%
Max Drawdown (1Y) Largest decline over 1 year	-10.09%	-10.48%	+0.39%
Current Drawdown Current decline from peak	-0.62%	-1.84%	+1.22%
Average Drawdown Average peak-to-trough decline	-3.25%	-2.97%	-0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	2.87%	-0.25%

Volatility

CGMM vs. CPAI - Volatility Comparison

The current volatility for Capital Group U.S. Small and Mid Cap ETF (CGMM) is 3.73%, while Counterpoint Quantitative Equity ETF (CPAI) has a volatility of 5.35%. This indicates that CGMM experiences smaller price fluctuations and is considered to be less risky than CPAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGMM	CPAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	5.35%	-1.62%
Volatility (6M) Calculated over the trailing 6-month period	11.79%	14.50%	-2.71%
Volatility (1Y) Calculated over the trailing 1-year period	15.80%	18.14%	-2.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.29%	19.19%	+1.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.29%	19.19%	+1.10%

CGMM vs. CPAI - Expense Ratio Comparison

CGMM has a 0.51% expense ratio, which is lower than CPAI's 0.75% expense ratio.

Dividends

CGMM vs. CPAI - Dividend Comparison

CGMM's dividend yield for the trailing twelve months is around 0.36%, less than CPAI's 0.70% yield.

Position	TTM	2025	2024	2023
CGMM Capital Group U.S. Small and Mid Cap ETF	0.36%	0.40%	0.00%	0.00%
CPAI Counterpoint Quantitative Equity ETF	0.70%	0.89%	0.41%	0.06%

Frequently Asked Questions

Can I hold both CGMM and CPAI in my portfolio?

CGMM and CPAI have a correlation of 0.72, 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 CPAI?

CPAI has higher volatility (5.35%) compared to CGMM (3.73%). In terms of maximum drawdown, CGMM dropped -21.04% vs CPAI's -21.46%.

Which ETF is better, CGMM or CPAI?

On 1-year performance, CPAI leads with 45.47% vs 23.39% for CGMM. On fees, CGMM is cheaper at 0.51% per year. On volatility, CGMM has been the lower-risk option at 3.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CGMM or CPAI?

Over the 1-year period, CPAI has performed better with a 45.47% return vs 23.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CGMM or CPAI?

CGMM is cheaper with a 0.51% expense ratio, compared with 0.75% for CPAI.

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

CPAI has the higher dividend yield at 0.70%, compared with 0.36% for CGMM.

What is the main difference between CGMM and CPAI?

They also come from different issuers: Capital Group and Counterpoint Funds. Their fees differ too: 0.51% for CGMM and 0.75% for CPAI.

Which has better risk-adjusted returns?

CPAI currently has the higher Sharpe Ratio (2.52 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.