CGSM vs. JMST
Compare and contrast key facts about Capital Group Short Duration Municipal Income ETF (CGSM) and JPMorgan Ultra-Short Municipal Income ETF (JMST).
CGSM and JMST are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CGSM is an actively managed fund by Capital Group. It was launched on Sep 26, 2023. JMST is an actively managed fund by JPMorgan Chase. It was launched on Oct 16, 2018.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CGSM or JMST.
Key characteristics
| CGSM | JMST | |
|---|---|---|
| YTD Return | 3.90% | 2.73% |
| 1Y Return | 8.00% | 4.27% |
| Sharpe Ratio | 4.24 | 5.70 |
| Sortino Ratio | 7.42 | 10.81 |
| Omega Ratio | 2.01 | 2.48 |
| Calmar Ratio | 9.98 | 25.65 |
| Martin Ratio | 32.92 | 118.25 |
| Ulcer Index | 0.24% | 0.04% |
| Daily Std Dev | 1.87% | 0.75% |
| Max Drawdown | -0.79% | -2.41% |
| Current Drawdown | -0.28% | -0.01% |
Correlation
The correlation between CGSM and JMST is 0.38, 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.
Performance
CGSM vs. JMST - Performance Comparison
In the year-to-date period, CGSM achieves a 3.90% return, which is significantly higher than JMST's 2.73% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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CGSM vs. JMST - Expense Ratio Comparison
CGSM has a 0.25% expense ratio, which is higher than JMST's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
CGSM vs. JMST - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Capital Group Short Duration Municipal Income ETF (CGSM) and JPMorgan Ultra-Short Municipal Income ETF (JMST). 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
CGSM vs. JMST - Dividend Comparison
CGSM's dividend yield for the trailing twelve months is around 3.04%, less than JMST's 3.37% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
CGSM Capital Group Short Duration Municipal Income ETF | 3.04% | 0.84% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JMST JPMorgan Ultra-Short Municipal Income ETF | 3.37% | 3.09% | 1.10% | 0.27% | 0.87% | 1.63% | 0.34% |
Drawdowns
CGSM vs. JMST - Drawdown Comparison
The maximum CGSM drawdown since its inception was -0.79%, smaller than the maximum JMST drawdown of -2.41%. Use the drawdown chart below to compare losses from any high point for CGSM and JMST. For additional features, visit the drawdowns tool.
Volatility
CGSM vs. JMST - Volatility Comparison
Capital Group Short Duration Municipal Income ETF (CGSM) has a higher volatility of 0.45% compared to JPMorgan Ultra-Short Municipal Income ETF (JMST) at 0.14%. This indicates that CGSM's price experiences larger fluctuations and is considered to be riskier than JMST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.