CGMM vs. USFR

Last updated Jun 24, 2026

CGMM (Capital Group U.S. Small and Mid Cap ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - CGMM is a Mid Cap Blend Equities fund actively managed by Capital Group, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. CGMM is actively managed, while USFR is passively managed. Over the past year, CGMM returned 22.70% vs 3.99% for USFR. At a correlation of -0.13, they often move in opposite directions. CGMM charges 0.51%/yr vs 0.15%/yr for USFR.

Performance

CGMM vs. USFR - 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 WisdomTree Floating Rate Treasury Fund (USFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CGMM achieves a 11.23% return, which is significantly higher than USFR's 1.82% return.

CGMM

• 1D: -0.96%
• 1M: 1.62%
• YTD: 11.23%
• 6M: 9.09%
• 1Y: 22.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USFR

• 1D: 0.04%
• 1M: 0.33%
• YTD: 1.82%
• 6M: 1.92%
• 1Y: 3.99%
• 3Y*: 4.74%
• 5Y*: 3.71%
• 10Y*: 2.43%

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

CGMM vs. USFR - Yearly Performance Comparison

	2026 (YTD)	2025
CGMM Capital Group U.S. Small and Mid Cap ETF	11.23%	12.15%
USFR WisdomTree Floating Rate Treasury Fund	1.82%	4.00%

Correlation

The correlation between CGMM and USFR is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.19
Correlation (All Time) Calculated using the full available price history since Jan 16, 2025	-0.13

Return for Risk

CGMM vs. USFR — 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: 43
CGMM Sortino Ratio Rank: 43
CGMM Omega Ratio Rank: 39
CGMM Calmar Ratio Rank: 49
CGMM Martin Ratio Rank: 53

USFR

USFR Risk / Return Rank: 100
USFR Sharpe Ratio Rank: 100
USFR Sortino Ratio Rank: 100
USFR Omega Ratio Rank: 100
USFR Calmar Ratio Rank: 100
USFR Martin Ratio Rank: 100

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. USFR - 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 WisdomTree Floating Rate Treasury Fund (USFR). 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.

	CGMM	USFR	Difference
Sharpe ratio: Return per unit of total volatility	1.41	14.67	-13.26
Sortino ratio: Return per unit of downside risk	2.06	50.13	-48.07
Omega ratio: Gain probability vs. loss probability	1.24	13.31	-12.06
Calmar ratio: Return relative to maximum drawdown	2.26	201.33	-199.07
Martin ratio: Return relative to average drawdown	8.62	779.76	-771.14

CGMM vs. USFR - Sharpe Ratio Comparison

The current CGMM Sharpe Ratio is 1.41, which is lower than the USFR Sharpe Ratio of 14.67. The chart below compares the historical Sharpe Ratios of CGMM and USFR, 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

CGMM vs. USFR - Drawdown Comparison

The maximum CGMM drawdown since its inception was -21.04%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for CGMM and USFR.

Drawdown Indicators

	CGMM	USFR	Difference
Max Drawdown Largest peak-to-trough decline	-21.04%	-1.36%	-19.68%
Max Drawdown (1Y) Largest decline over 1 year	-10.09%	-0.02%	-10.07%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.06%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.80%	—
Current Drawdown Current decline from peak	-0.96%	0.00%	-0.96%
Average Drawdown Average peak-to-trough decline	-3.17%	-0.15%	-3.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.64%	0.01%	+2.63%

Volatility

CGMM vs. USFR - Volatility Comparison

Capital Group U.S. Small and Mid Cap ETF (CGMM) has a higher volatility of 4.69% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.09%. This indicates that CGMM's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGMM	USFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.69%	0.09%	+4.60%
Volatility (6M) Calculated over the trailing 6-month period	12.21%	0.19%	+12.02%
Volatility (1Y) Calculated over the trailing 1-year period	16.18%	0.27%	+15.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.23%	0.40%	+19.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.23%	0.78%	+19.45%

CGMM vs. USFR - Expense Ratio Comparison

CGMM has a 0.51% expense ratio, which is higher than USFR's 0.15% expense ratio.

Dividends

CGMM vs. USFR - Dividend Comparison

CGMM's dividend yield for the trailing twelve months is around 0.36%, less than USFR's 3.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CGMM Capital Group U.S. Small and Mid Cap ETF	0.36%	0.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USFR WisdomTree Floating Rate Treasury Fund	3.90%	4.15%	5.17%	5.12%	1.78%	0.01%	0.40%	2.08%	1.67%	1.03%	0.29%

Frequently Asked Questions

Can I hold both CGMM and USFR in my portfolio?

CGMM and USFR have a correlation of -0.19, 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 USFR?

CGMM has higher volatility (4.69%) compared to USFR (0.09%). In terms of maximum drawdown, CGMM dropped -21.04% vs USFR's -1.36%.

Which ETF is better, CGMM or USFR?

On 1-year performance, CGMM leads with 22.70% vs 3.99% for USFR. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CGMM or USFR?

Over the 1-year period, CGMM has performed better with a 22.70% return vs 3.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CGMM or USFR?

USFR is cheaper with a 0.15% expense ratio, compared with 0.51% for CGMM.

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

USFR has the higher dividend yield at 3.90%, compared with 0.36% for CGMM.

What is the main difference between CGMM and USFR?

CGMM is categorized as Mid Cap Blend Equities, while USFR is Government Bonds. They also come from different issuers: Capital Group and WisdomTree. Their fees differ too: 0.51% for CGMM and 0.15% for USFR.

Which has better risk-adjusted returns?

USFR currently has the higher Sharpe Ratio (14.67 vs 1.41), 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.