CGSD vs. CGSM

Last updated Apr 2, 2026

Compare and contrast key facts about Capital Group Short Duration Income ETF (CGSD) and Capital Group Short Duration Municipal Income ETF (CGSM).

CGSD and CGSM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CGSD is an actively managed fund by Capital Group. It was launched on Oct 25, 2022. CGSM is an actively managed fund by Capital Group. It was launched on Sep 26, 2023.

Performance

CGSD vs. CGSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group Short Duration Income ETF (CGSD) and Capital Group Short Duration Municipal Income ETF (CGSM). The values are adjusted to include any dividend payments, if applicable.

CGSD vs. CGSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CGSD Capital Group Short Duration Income ETF	0.21%	6.11%	5.46%	3.14%
CGSM Capital Group Short Duration Municipal Income ETF	0.57%	4.58%	3.71%	4.04%

Returns By Period

In the year-to-date period, CGSD achieves a 0.21% return, which is significantly lower than CGSM's 0.57% return.

CGSD

• 1D: 0.08%
• 1M: -0.52%
• YTD: 0.21%
• 6M: 1.37%
• 1Y: 4.52%
• 3Y*: 5.04%
• 5Y*: —
• 10Y*: —

CGSM

• 1D: 0.08%
• 1M: -0.81%
• YTD: 0.57%
• 6M: 1.28%
• 1Y: 4.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CGSD vs. CGSM - Expense Ratio Comparison

Both CGSD and CGSM have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

CGSD

Capital Group Short Duration Income ETF

CGSM

Capital Group Short Duration Municipal Income ETF

Return for Risk

CGSD vs. CGSM — Risk / Return Rank

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

CGSD

CGSD Risk / Return Rank: 96
CGSD Sharpe Ratio Rank: 96
CGSD Sortino Ratio Rank: 98
CGSD Omega Ratio Rank: 97
CGSD Calmar Ratio Rank: 95
CGSD Martin Ratio Rank: 97

CGSM

CGSM Risk / Return Rank: 93
CGSM Sharpe Ratio Rank: 95
CGSM Sortino Ratio Rank: 96
CGSM Omega Ratio Rank: 97
CGSM Calmar Ratio Rank: 89
CGSM Martin Ratio Rank: 86

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.

CGSD vs. CGSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group Short Duration Income ETF (CGSD) and Capital Group Short Duration Municipal Income ETF (CGSM). 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.

	CGSD	CGSM	Difference
Sharpe ratio Return per unit of total volatility	2.70	2.54	+0.15
Sortino ratio Return per unit of downside risk	4.17	3.44	+0.73
Omega ratio Gain probability vs. loss probability	1.57	1.58	-0.01
Calmar ratio Return relative to maximum drawdown	4.10	3.09	+1.01
Martin ratio Return relative to average drawdown	19.09	11.13	+7.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CGSD vs. CGSM - Sharpe Ratio Comparison

The current CGSD Sharpe Ratio is 2.70, which is comparable to the CGSM Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of CGSD and CGSM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CGSD	CGSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.70	2.54	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	2.43	2.87	-0.44

Correlation

The correlation between CGSD and CGSM is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

CGSD vs. CGSM - Dividend Comparison

CGSD's dividend yield for the trailing twelve months is around 4.48%, more than CGSM's 3.06% yield.

	TTM	2025	2024	2023	2022
CGSD Capital Group Short Duration Income ETF	4.48%	4.48%	4.57%	4.43%	0.64%
CGSM Capital Group Short Duration Municipal Income ETF	3.06%	3.05%	3.11%	0.84%	0.00%

Drawdowns

CGSD vs. CGSM - Drawdown Comparison

The maximum CGSD drawdown since its inception was -1.75%, which is greater than CGSM's maximum drawdown of -1.42%. Use the drawdown chart below to compare losses from any high point for CGSD and CGSM.

Drawdown Indicators

	CGSD	CGSM	Difference
Max Drawdown Largest peak-to-trough decline	-1.75%	-1.42%	-0.33%
Max Drawdown (1Y) Largest decline over 1 year	-1.11%	-1.38%	+0.27%
Current Drawdown Current decline from peak	-0.60%	-0.93%	+0.33%
Average Drawdown Average peak-to-trough decline	-0.29%	-0.22%	-0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.24%	0.38%	-0.14%

Volatility

CGSD vs. CGSM - Volatility Comparison

Capital Group Short Duration Income ETF (CGSD) has a higher volatility of 0.64% compared to Capital Group Short Duration Municipal Income ETF (CGSM) at 0.58%. This indicates that CGSD's price experiences larger fluctuations and is considered to be riskier than CGSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGSD	CGSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.64%	0.58%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	0.96%	0.86%	+0.10%
Volatility (1Y) Calculated over the trailing 1-year period	1.68%	1.63%	+0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.19%	1.81%	+0.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.19%	1.81%	+0.38%