CGNG vs. XME

Last updated Jun 24, 2026

CGNG (Capital Group New Geography Equity ETF) and XME (SPDR S&P Metals & Mining ETF) are both exchange-traded funds - CGNG is a Emerging Markets Diversified fund actively managed by Capital Group, while XME is a Materials fund tracking the S&P Metals & Mining Select Industry Index. CGNG is actively managed, while XME is passively managed. Over the past year, CGNG returned 32.44% vs 68.16% for XME. A 0.61 correlation means they provide meaningful diversification when combined. CGNG charges 0.64%/yr vs 0.35%/yr for XME.

Performance

CGNG vs. XME - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group New Geography Equity ETF (CGNG) and SPDR S&P Metals & Mining ETF (XME). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CGNG achieves a 14.12% return, which is significantly higher than XME's 7.18% return.

CGNG

• 1D: -4.38%
• 1M: 2.47%
• YTD: 14.12%
• 6M: 13.97%
• 1Y: 32.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XME

• 1D: -3.75%
• 1M: -5.21%
• YTD: 7.18%
• 6M: 2.81%
• 1Y: 68.16%
• 3Y*: 32.34%
• 5Y*: 21.39%
• 10Y*: 18.52%

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

CGNG vs. XME - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CGNG Capital Group New Geography Equity ETF	14.12%	29.78%	-1.17%
XME SPDR S&P Metals & Mining ETF	7.18%	83.47%	-3.08%

Correlation

The correlation between CGNG and XME is 0.60, 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	0.60
Correlation (All Time) Calculated using the full available price history since Jun 27, 2024	0.61

The correlation between CGNG and XME has been stable across timeframes, ranging from 0.60 to 0.61 - a consistent structural relationship.

Return for Risk

CGNG vs. XME — Risk / Return Rank

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

CGNG

CGNG Risk / Return Rank: 52
CGNG Sharpe Ratio Rank: 50
CGNG Sortino Ratio Rank: 47
CGNG Omega Ratio Rank: 52
CGNG Calmar Ratio Rank: 51
CGNG Martin Ratio Rank: 58

XME

XME Risk / Return Rank: 54
XME Sharpe Ratio Rank: 58
XME Sortino Ratio Rank: 51
XME Omega Ratio Rank: 50
XME Calmar Ratio Rank: 64
XME Martin Ratio Rank: 46

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. XME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group New Geography Equity ETF (CGNG) and SPDR S&P Metals & Mining ETF (XME). 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.

	CGNG	XME	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.89	-0.28
Sortino ratio: Return per unit of downside risk	2.21	2.40	-0.19
Omega ratio: Gain probability vs. loss probability	1.31	1.31	0.00
Calmar ratio: Return relative to maximum drawdown	2.37	3.03	-0.66
Martin ratio: Return relative to average drawdown	9.67	7.40	+2.28

CGNG vs. XME - Sharpe Ratio Comparison

The current CGNG Sharpe Ratio is 1.61, which is comparable to the XME Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of CGNG and XME, 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

CGNG vs. XME - Drawdown Comparison

The maximum CGNG drawdown since its inception was -15.90%, smaller than the maximum XME drawdown of -85.89%. Use the drawdown chart below to compare losses from any high point for CGNG and XME.

Drawdown Indicators

	CGNG	XME	Difference
Max Drawdown Largest peak-to-trough decline	-15.90%	-85.89%	+69.99%
Max Drawdown (1Y) Largest decline over 1 year	-13.75%	-22.60%	+8.85%
Max Drawdown (3Y) Largest decline over 3 years	—	-30.47%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-37.27%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-61.69%	—
Current Drawdown Current decline from peak	-4.38%	-16.45%	+12.07%
Average Drawdown Average peak-to-trough decline	-2.84%	-44.05%	+41.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.36%	9.24%	-5.88%

Volatility

CGNG vs. XME - Volatility Comparison

The current volatility for Capital Group New Geography Equity ETF (CGNG) is 10.59%, while SPDR S&P Metals & Mining ETF (XME) has a volatility of 14.26%. This indicates that CGNG experiences smaller price fluctuations and is considered to be less risky than XME based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGNG	XME	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.59%	14.26%	-3.67%
Volatility (6M) Calculated over the trailing 6-month period	18.29%	28.34%	-10.05%
Volatility (1Y) Calculated over the trailing 1-year period	20.31%	36.35%	-16.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.18%	32.76%	-13.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.18%	32.91%	-13.73%

CGNG vs. XME - Expense Ratio Comparison

CGNG has a 0.64% expense ratio, which is higher than XME's 0.35% expense ratio.

Dividends

CGNG vs. XME - Dividend Comparison

CGNG's dividend yield for the trailing twelve months is around 0.60%, more than XME's 0.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CGNG Capital Group New Geography Equity ETF	0.60%	0.68%	0.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XME SPDR S&P Metals & Mining ETF	0.34%	0.38%	0.65%	1.00%	1.64%	0.70%	0.99%	2.43%	2.23%	1.15%	1.02%	2.61%

Frequently Asked Questions

Can I hold both CGNG and XME in my portfolio?

CGNG and XME have a correlation of 0.60, 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 XME?

XME has higher volatility (14.26%) compared to CGNG (10.59%). In terms of maximum drawdown, CGNG dropped -15.90% vs XME's -85.89%.

Which ETF is better, CGNG or XME?

On 1-year performance, XME leads with 68.16% vs 32.44% for CGNG. On fees, XME is cheaper at 0.35% per year. On volatility, CGNG has been the lower-risk option at 10.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CGNG or XME?

Over the 1-year period, XME has performed better with a 68.16% return vs 32.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CGNG or XME?

XME is cheaper with a 0.35% expense ratio, compared with 0.64% for CGNG.

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

CGNG has the higher dividend yield at 0.60%, compared with 0.34% for XME.

What is the main difference between CGNG and XME?

CGNG is categorized as Emerging Markets Diversified, while XME is Materials. They also come from different issuers: Capital Group and State Street. Their fees differ too: 0.64% for CGNG and 0.35% for XME.

Which has better risk-adjusted returns?

XME currently has the higher Sharpe Ratio (1.89 vs 1.61), 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.