CGMU vs. FFRHX
Compare and contrast key facts about Capital Group Municipal Income ETF (CGMU) and Fidelity Floating Rate High Income Fund (FFRHX).
CGMU is an actively managed fund by Capital Group. It was launched on Oct 25, 2022. FFRHX is managed by Fidelity. It was launched on Aug 16, 2000.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CGMU or FFRHX.
Performance
CGMU vs. FFRHX - Performance Comparison
Returns By Period
In the year-to-date period, CGMU achieves a 2.91% return, which is significantly lower than FFRHX's 8.09% return.
CGMU
2.91%
-0.42%
2.54%
6.84%
N/A
N/A
FFRHX
8.09%
0.89%
4.24%
9.98%
5.67%
4.61%
Key characteristics
| CGMU | FFRHX | |
|---|---|---|
| Sharpe Ratio | 2.10 | 3.88 |
| Sortino Ratio | 3.07 | 12.50 |
| Omega Ratio | 1.44 | 4.16 |
| Calmar Ratio | 2.96 | 11.54 |
| Martin Ratio | 11.99 | 61.50 |
| Ulcer Index | 0.61% | 0.16% |
| Daily Std Dev | 3.47% | 2.56% |
| Max Drawdown | -4.10% | -22.19% |
| Current Drawdown | -1.00% | 0.00% |
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CGMU vs. FFRHX - Expense Ratio Comparison
CGMU has a 0.27% expense ratio, which is lower than FFRHX's 0.67% expense ratio.
Correlation
The correlation between CGMU and FFRHX is 0.10, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Risk-Adjusted Performance
CGMU vs. FFRHX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Capital Group Municipal Income ETF (CGMU) and Fidelity Floating Rate High Income Fund (FFRHX). 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. FFRHX - Dividend Comparison
CGMU's dividend yield for the trailing twelve months is around 3.19%, less than FFRHX's 8.37% 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% |
FFRHX Fidelity Floating Rate High Income Fund | 8.37% | 8.25% | 5.06% | 3.27% | 3.85% | 5.17% | 4.75% | 4.05% | 3.94% | 4.25% | 4.00% | 3.46% |
Drawdowns
CGMU vs. FFRHX - Drawdown Comparison
The maximum CGMU drawdown since its inception was -4.10%, smaller than the maximum FFRHX drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for CGMU and FFRHX. For additional features, visit the drawdowns tool.
Volatility
CGMU vs. FFRHX - Volatility Comparison
Capital Group Municipal Income ETF (CGMU) has a higher volatility of 1.96% compared to Fidelity Floating Rate High Income Fund (FFRHX) at 0.61%. This indicates that CGMU's price experiences larger fluctuations and is considered to be riskier than FFRHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.