CGMU vs. FBNDX
Compare and contrast key facts about Capital Group Municipal Income ETF (CGMU) and Fidelity Investment Grade Bond Fund (FBNDX).
CGMU is an actively managed fund by Capital Group. It was launched on Oct 25, 2022. FBNDX is managed by Fidelity. It was launched on Aug 6, 1971.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CGMU or FBNDX.
Performance
CGMU vs. FBNDX - Performance Comparison
Returns By Period
In the year-to-date period, CGMU achieves a 2.91% return, which is significantly higher than FBNDX's 1.93% return.
CGMU
2.91%
-0.42%
2.54%
6.84%
N/A
N/A
FBNDX
1.93%
-1.61%
2.82%
6.83%
-0.10%
1.65%
Key characteristics
| CGMU | FBNDX | |
|---|---|---|
| Sharpe Ratio | 2.10 | 1.12 |
| Sortino Ratio | 3.07 | 1.67 |
| Omega Ratio | 1.44 | 1.20 |
| Calmar Ratio | 2.96 | 0.42 |
| Martin Ratio | 11.99 | 3.72 |
| Ulcer Index | 0.61% | 1.75% |
| Daily Std Dev | 3.47% | 5.83% |
| Max Drawdown | -4.10% | -20.16% |
| Current Drawdown | -1.00% | -9.70% |
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CGMU vs. FBNDX - Expense Ratio Comparison
CGMU has a 0.27% expense ratio, which is lower than FBNDX's 0.45% expense ratio.
Correlation
The correlation between CGMU and FBNDX is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
CGMU vs. FBNDX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Capital Group Municipal Income ETF (CGMU) and Fidelity Investment Grade Bond Fund (FBNDX). 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.
Dividends
CGMU vs. FBNDX - Dividend Comparison
CGMU's dividend yield for the trailing twelve months is around 3.19%, less than FBNDX's 3.91% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGMU Capital Group Municipal Income ETF | 3.19% | 3.09% | 0.49% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FBNDX Fidelity Investment Grade Bond Fund | 3.91% | 3.56% | 2.67% | 1.53% | 1.88% | 2.77% | 2.84% | 2.17% | 2.50% | 2.90% | 2.59% | 2.36% |
Drawdowns
CGMU vs. FBNDX - Drawdown Comparison
The maximum CGMU drawdown since its inception was -4.10%, smaller than the maximum FBNDX drawdown of -20.16%. Use the drawdown chart below to compare losses from any high point for CGMU and FBNDX. For additional features, visit the drawdowns tool.
Volatility
CGMU vs. FBNDX - Volatility Comparison
Capital Group Municipal Income ETF (CGMU) has a higher volatility of 1.96% compared to Fidelity Investment Grade Bond Fund (FBNDX) at 1.65%. This indicates that CGMU's price experiences larger fluctuations and is considered to be riskier than FBNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.