CGSM vs. COM

Last updated Jun 23, 2026

CGSM (Capital Group Short Duration Municipal Income ETF) and COM (Direxion Auspice Broad Commodity Strategy ETF) are both exchange-traded funds - CGSM is a Municipal Bonds fund actively managed by Capital Group, while COM is a Commodities fund tracking the Auspice Broad Commodity ER Index. CGSM is actively managed, while COM is passively managed. Over the past year, CGSM returned 4.23% vs 18.69% for COM. At a correlation of -0.08, they often move in opposite directions. CGSM charges 0.25%/yr vs 0.70%/yr for COM.

Performance

CGSM vs. COM - Performance Comparison

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

Returns By Period

In the year-to-date period, CGSM achieves a 1.37% return, which is significantly lower than COM's 12.48% return.

CGSM

• 1D: 0.04%
• 1M: 0.65%
• YTD: 1.37%
• 6M: 1.43%
• 1Y: 4.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

COM

• 1D: -0.24%
• 1M: -3.92%
• YTD: 12.48%
• 6M: 12.53%
• 1Y: 18.69%
• 3Y*: 6.70%
• 5Y*: 8.18%
• 10Y*: —

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

CGSM vs. COM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CGSM Capital Group Short Duration Municipal Income ETF	1.37%	4.58%	3.71%	4.06%
COM Direxion Auspice Broad Commodity Strategy ETF	12.48%	7.72%	5.81%	-6.45%

Correlation

The correlation between CGSM and COM is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (All Time) Calculated using the full available price history since Sep 28, 2023	-0.08

Return for Risk

CGSM vs. COM — Risk / Return Rank

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

CGSM

CGSM Risk / Return Rank: 85
CGSM Sharpe Ratio Rank: 93
CGSM Sortino Ratio Rank: 95
CGSM Omega Ratio Rank: 95
CGSM Calmar Ratio Rank: 74
CGSM Martin Ratio Rank: 66

COM

COM Risk / Return Rank: 54
COM Sharpe Ratio Rank: 54
COM Sortino Ratio Rank: 51
COM Omega Ratio Rank: 55
COM Calmar Ratio Rank: 57
COM Martin Ratio Rank: 54

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.

CGSM vs. COM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group Short Duration Municipal Income ETF (CGSM) and Direxion Auspice Broad Commodity Strategy ETF (COM). 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.

	CGSM	COM	Difference
Sharpe ratio: Return per unit of total volatility	3.19	1.79	+1.41
Sortino ratio: Return per unit of downside risk	4.86	2.42	+2.44
Omega ratio: Gain probability vs. loss probability	1.72	1.33	+0.39
Calmar ratio: Return relative to maximum drawdown	3.61	2.76	+0.85
Martin ratio: Return relative to average drawdown	11.69	9.09	+2.59

CGSM vs. COM - Sharpe Ratio Comparison

The current CGSM Sharpe Ratio is 3.19, which is higher than the COM Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of CGSM and COM, 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

CGSM vs. COM - Drawdown Comparison

The maximum CGSM drawdown since its inception was -1.42%, smaller than the maximum COM drawdown of -15.95%. Use the drawdown chart below to compare losses from any high point for CGSM and COM.

Drawdown Indicators

	CGSM	COM	Difference
Max Drawdown Largest peak-to-trough decline	-1.42%	-15.95%	+14.53%
Max Drawdown (1Y) Largest decline over 1 year	-1.18%	-6.81%	+5.63%
Max Drawdown (3Y) Largest decline over 3 years	—	-8.50%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-14.02%	—
Current Drawdown Current decline from peak	-0.14%	-6.61%	+6.47%
Average Drawdown Average peak-to-trough decline	-0.24%	-6.28%	+6.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	2.10%	-1.74%

Volatility

CGSM vs. COM - Volatility Comparison

The current volatility for Capital Group Short Duration Municipal Income ETF (CGSM) is 0.32%, while Direxion Auspice Broad Commodity Strategy ETF (COM) has a volatility of 2.13%. This indicates that CGSM experiences smaller price fluctuations and is considered to be less risky than COM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGSM	COM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.32%	2.13%	-1.81%
Volatility (6M) Calculated over the trailing 6-month period	0.98%	8.54%	-7.56%
Volatility (1Y) Calculated over the trailing 1-year period	1.33%	10.54%	-9.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.78%	9.53%	-7.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.78%	9.76%	-7.98%

CGSM vs. COM - Expense Ratio Comparison

CGSM has a 0.25% expense ratio, which is lower than COM's 0.70% expense ratio.

Dividends

CGSM vs. COM - Dividend Comparison

CGSM's dividend yield for the trailing twelve months is around 2.99%, more than COM's 2.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CGSM Capital Group Short Duration Municipal Income ETF	2.99%	3.05%	3.11%	0.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
COM Direxion Auspice Broad Commodity Strategy ETF	2.51%	2.99%	3.88%	3.80%	8.59%	10.32%	0.13%	1.09%	2.36%	0.09%

Frequently Asked Questions

Can I hold both CGSM and COM in my portfolio?

CGSM and COM have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CGSM or COM?

COM has higher volatility (2.13%) compared to CGSM (0.32%). In terms of maximum drawdown, CGSM dropped -1.42% vs COM's -15.95%.

Which ETF is better, CGSM or COM?

On 1-year performance, COM leads with 18.69% vs 4.23% for CGSM. On fees, CGSM is cheaper at 0.25% per year. On volatility, CGSM has been the lower-risk option at 0.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CGSM or COM?

Over the 1-year period, COM has performed better with a 18.69% return vs 4.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CGSM or COM?

CGSM is cheaper with a 0.25% expense ratio, compared with 0.70% for COM.

Which ETF pays a higher dividend yield, CGSM or COM?

CGSM has the higher dividend yield at 2.99%, compared with 2.51% for COM.

What is the main difference between CGSM and COM?

CGSM is categorized as Municipal Bonds, while COM is Commodities. They also come from different issuers: Capital Group and Direxion. Their fees differ too: 0.25% for CGSM and 0.70% for COM.

Which has better risk-adjusted returns?

CGSM currently has the higher Sharpe Ratio (3.19 vs 1.79), 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.