CGNG vs. CGMS

Last updated Jun 4, 2026

CGNG (Capital Group New Geography Equity ETF) and CGMS (Capital Group U.S. Multi-Sector Income ETF) are both exchange-traded funds - CGNG is a Emerging Markets Diversified 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, CGNG returned 35.54% vs 7.10% for CGMS. At a 0.48 correlation, their price movements are largely independent. CGNG charges 0.64%/yr vs 0.39%/yr for CGMS.

Performance

CGNG vs. CGMS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group New Geography Equity ETF (CGNG) 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, CGNG achieves a 16.04% return, which is significantly higher than CGMS's 1.54% return.

CGNG

• 1D: -1.36%
• 1M: 6.50%
• YTD: 16.04%
• 6M: 17.30%
• 1Y: 35.54%
• 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)

CGNG vs. CGMS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CGNG Capital Group New Geography Equity ETF	16.04%	29.78%	-0.97%
CGMS Capital Group U.S. Multi-Sector Income ETF	1.54%	7.52%	4.21%

Correlation

The correlation between CGNG and CGMS is 0.55, 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	0.55
Correlation (All Time) Calculated using the full available price history since Jun 28, 2024	0.48

The correlation between CGNG and CGMS has been stable across timeframes, ranging from 0.48 to 0.55 - a consistent structural relationship.

CGNG vs. CGMS - Sectors Allocation Comparison

Sectors	CGNG	CGMS
Technology	31.4%	8.2%
Financial Services	16.2%	-
Industrials	10.7%	-
Communication Services	10.4%	-
Consumer Cyclical	9.8%	-
Basic Materials	7.5%	-
Consumer Defensive	3.8%	-
Healthcare	3.5%	-
Energy	3.5%	-
Utilities	1.8%	-
Real Estate	1.3%	91.8%

Return for Risk

CGNG vs. CGMS — Risk / Return Rank

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

CGNG

CGNG Risk / Return Rank: 58
CGNG Sharpe Ratio Rank: 58
CGNG Sortino Ratio Rank: 58
CGNG Omega Ratio Rank: 59
CGNG Calmar Ratio Rank: 52
CGNG Martin Ratio Rank: 62

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.

CGNG vs. CGMS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group New Geography Equity ETF (CGNG) 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.

	CGNG	CGMS	Difference
Sharpe ratio: Return per unit of total volatility	1.98	2.08	-0.10
Sortino ratio: Return per unit of downside risk	2.77	3.14	-0.37
Omega ratio: Gain probability vs. loss probability	1.36	1.39	-0.03
Calmar ratio: Return relative to maximum drawdown	2.60	2.88	-0.29
Martin ratio: Return relative to average drawdown	10.98	12.89	-1.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CGNG vs. CGMS - Sharpe Ratio Comparison

The current CGNG Sharpe Ratio is 1.98, which is comparable to the CGMS Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of CGNG 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

	CGNG	CGMS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	2.08	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	1.27	1.66	-0.39

Drawdowns

CGNG vs. CGMS - Drawdown Comparison

The maximum CGNG drawdown since its inception was -15.90%, which is greater than CGMS's maximum drawdown of -4.08%. Use the drawdown chart below to compare losses from any high point for CGNG and CGMS.

Drawdown Indicators

	CGNG	CGMS	Difference
Max Drawdown Largest peak-to-trough decline	-15.90%	-4.08%	-11.82%
Max Drawdown (1Y) Largest decline over 1 year	-13.75%	-2.47%	-11.28%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.08%	—
Current Drawdown Current decline from peak	-1.36%	-0.25%	-1.11%
Average Drawdown Average peak-to-trough decline	-2.84%	-0.67%	-2.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	0.55%	+2.69%

Volatility

CGNG vs. CGMS - Volatility Comparison

Capital Group New Geography Equity ETF (CGNG) has a higher volatility of 7.04% compared to Capital Group U.S. Multi-Sector Income ETF (CGMS) at 1.15%. This indicates that CGNG'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

	CGNG	CGMS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.04%	1.15%	+5.89%
Volatility (6M) Calculated over the trailing 6-month period	15.67%	2.66%	+13.01%
Volatility (1Y) Calculated over the trailing 1-year period	18.04%	3.43%	+14.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.17%	5.13%	+13.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.17%	5.13%	+13.04%

CGNG vs. CGMS - Expense Ratio Comparison

CGNG has a 0.64% expense ratio, which is higher than CGMS's 0.39% expense ratio.

Dividends

CGNG vs. CGMS - Dividend Comparison

CGNG's dividend yield for the trailing twelve months is around 0.59%, less than CGMS's 6.09% yield.

Position	TTM	2025	2024	2023	2022
CGMS Capital Group U.S. Multi-Sector Income ETF	6.09%	6.00%	5.91%	5.84%	0.97%
CGNG Capital Group New Geography Equity ETF	0.59%	0.68%	0.27%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CGNG and CGMS in my portfolio?

CGNG and CGMS have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CGNG or CGMS?

CGNG has higher volatility (7.04%) compared to CGMS (1.15%). In terms of maximum drawdown, CGNG dropped -15.90% vs CGMS's -4.08%.

Which ETF is better, CGNG or CGMS?

On 1-year performance, CGNG leads with 35.54% 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, CGNG or CGMS?

Over the 1-year period, CGNG has performed better with a 35.54% return vs 7.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CGNG or CGMS?

CGMS is cheaper with a 0.39% expense ratio, compared with 0.64% for CGNG.

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

CGMS has the higher dividend yield at 6.09%, compared with 0.59% for CGNG.

What is the main difference between CGNG and CGMS?

CGNG is categorized as Emerging Markets Diversified, while CGMS is Multisector Bonds. Their fees differ too: 0.64% for CGNG and 0.39% for CGMS.

Which has better risk-adjusted returns?

CGMS currently has the higher Sharpe Ratio (2.08 vs 1.98), 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.