CGSM vs. MEAR
Compare and contrast key facts about Capital Group Short Duration Municipal Income ETF (CGSM) and iShares Short Maturity Municipal Bond ETF (MEAR).
CGSM and MEAR 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. MEAR is an actively managed fund by iShares. It was launched on Mar 3, 2015.
Performance
CGSM vs. MEAR - Performance Comparison
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CGSM vs. MEAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CGSM Capital Group Short Duration Municipal Income ETF | 0.57% | 4.58% | 3.71% | 4.04% |
MEAR iShares Short Maturity Municipal Bond ETF | 0.58% | 3.76% | 3.40% | 1.53% |
Returns By Period
The year-to-date returns for both investments are quite close, with CGSM having a 0.57% return and MEAR slightly higher at 0.58%.
CGSM
- 1D
- 0.08%
- 1M
- -0.81%
- YTD
- 0.57%
- 6M
- 1.28%
- 1Y
- 4.10%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MEAR
- 1D
- 0.11%
- 1M
- -0.23%
- YTD
- 0.58%
- 6M
- 1.27%
- 1Y
- 3.25%
- 3Y*
- 3.54%
- 5Y*
- 2.32%
- 10Y*
- 1.75%
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CGSM vs. MEAR - Expense Ratio Comparison
Both CGSM and MEAR 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%.
Return for Risk
CGSM vs. MEAR — Risk / Return Rank
CGSM
MEAR
CGSM vs. MEAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Capital Group Short Duration Municipal Income ETF (CGSM) and iShares Short Maturity Municipal Bond ETF (MEAR). 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.
| CGSM | MEAR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.54 | 2.81 | -0.27 |
Sortino ratioReturn per unit of downside risk | 3.44 | 3.78 | -0.34 |
Omega ratioGain probability vs. loss probability | 1.58 | 1.73 | -0.15 |
Calmar ratioReturn relative to maximum drawdown | 3.09 | 3.77 | -0.68 |
Martin ratioReturn relative to average drawdown | 11.13 | 21.16 | -10.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CGSM | MEAR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.54 | 2.81 | -0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 2.38 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.16 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.87 | 1.09 | +1.78 |
Correlation
The correlation between CGSM and MEAR is 0.33, 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.
Dividends
CGSM vs. MEAR - Dividend Comparison
CGSM's dividend yield for the trailing twelve months is around 3.06%, more than MEAR's 2.87% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGSM Capital Group Short Duration Municipal Income ETF | 3.06% | 3.05% | 3.11% | 0.84% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MEAR iShares Short Maturity Municipal Bond ETF | 2.87% | 2.95% | 3.44% | 3.30% | 0.88% | 0.30% | 0.90% | 1.57% | 1.36% | 1.01% | 0.81% | 0.53% |
Drawdowns
CGSM vs. MEAR - Drawdown Comparison
The maximum CGSM drawdown since its inception was -1.42%, smaller than the maximum MEAR drawdown of -2.68%. Use the drawdown chart below to compare losses from any high point for CGSM and MEAR.
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Drawdown Indicators
| CGSM | MEAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.42% | -2.68% | +1.26% |
Max Drawdown (1Y)Largest decline over 1 year | -1.38% | -0.86% | -0.52% |
Max Drawdown (5Y)Largest decline over 5 years | — | -1.12% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -2.68% | — |
Current DrawdownCurrent decline from peak | -0.93% | -0.24% | -0.69% |
Average DrawdownAverage peak-to-trough decline | -0.22% | -0.19% | -0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 0.15% | +0.23% |
Volatility
CGSM vs. MEAR - Volatility Comparison
Capital Group Short Duration Municipal Income ETF (CGSM) has a higher volatility of 0.58% compared to iShares Short Maturity Municipal Bond ETF (MEAR) at 0.37%. This indicates that CGSM's price experiences larger fluctuations and is considered to be riskier than MEAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CGSM | MEAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.58% | 0.37% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 0.86% | 0.60% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.63% | 1.16% | +0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.81% | 0.98% | +0.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.81% | 1.52% | +0.29% |