CGSM vs. VGSH
Compare and contrast key facts about Capital Group Short Duration Municipal Income ETF (CGSM) and Vanguard Short-Term Treasury ETF (VGSH).
CGSM and VGSH 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. VGSH is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Treasury 1-3 Year Index. It was launched on Nov 19, 2009.
Performance
CGSM vs. VGSH - Performance Comparison
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CGSM vs. VGSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CGSM Capital Group Short Duration Municipal Income ETF | 0.49% | 4.58% | 3.71% | 4.04% |
VGSH Vanguard Short-Term Treasury ETF | 0.28% | 5.07% | 4.00% | 2.60% |
Returns By Period
In the year-to-date period, CGSM achieves a 0.49% return, which is significantly higher than VGSH's 0.28% return.
CGSM
- 1D
- 0.04%
- 1M
- -0.95%
- YTD
- 0.49%
- 6M
- 1.22%
- 1Y
- 4.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VGSH
- 1D
- 0.09%
- 1M
- -0.49%
- YTD
- 0.28%
- 6M
- 1.37%
- 1Y
- 3.75%
- 3Y*
- 3.98%
- 5Y*
- 1.79%
- 10Y*
- 1.74%
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CGSM vs. VGSH - Expense Ratio Comparison
CGSM has a 0.25% expense ratio, which is higher than VGSH's 0.03% 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%.
Return for Risk
CGSM vs. VGSH — Risk / Return Rank
CGSM
VGSH
CGSM vs. VGSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Capital Group Short Duration Municipal Income ETF (CGSM) and Vanguard Short-Term Treasury ETF (VGSH). 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 | VGSH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.59 | 2.62 | -0.03 |
Sortino ratioReturn per unit of downside risk | 3.51 | 4.21 | -0.71 |
Omega ratioGain probability vs. loss probability | 1.59 | 1.57 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 3.09 | 4.26 | -1.17 |
Martin ratioReturn relative to average drawdown | 11.27 | 16.28 | -5.01 |
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 | VGSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.59 | 2.62 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.92 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.86 | 1.02 | +1.84 |
Correlation
The correlation between CGSM and VGSH is 0.46, 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
CGSM vs. VGSH - Dividend Comparison
CGSM's dividend yield for the trailing twelve months is around 3.06%, less than VGSH's 3.95% 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% |
VGSH Vanguard Short-Term Treasury ETF | 3.95% | 4.00% | 4.18% | 3.31% | 1.15% | 0.66% | 1.74% | 2.28% | 1.79% | 1.10% | 0.84% | 0.69% |
Drawdowns
CGSM vs. VGSH - Drawdown Comparison
The maximum CGSM drawdown since its inception was -1.42%, smaller than the maximum VGSH drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for CGSM and VGSH.
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Drawdown Indicators
| CGSM | VGSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.42% | -5.70% | +4.28% |
Max Drawdown (1Y)Largest decline over 1 year | -1.38% | -0.88% | -0.50% |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.70% | — |
Current DrawdownCurrent decline from peak | -1.00% | -0.49% | -0.51% |
Average DrawdownAverage peak-to-trough decline | -0.22% | -0.60% | +0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 0.23% | +0.15% |
Volatility
CGSM vs. VGSH - Volatility Comparison
Capital Group Short Duration Municipal Income ETF (CGSM) has a higher volatility of 0.59% compared to Vanguard Short-Term Treasury ETF (VGSH) at 0.52%. This indicates that CGSM's price experiences larger fluctuations and is considered to be riskier than VGSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CGSM | VGSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 0.52% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 0.86% | 0.84% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.63% | 1.44% | +0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.82% | 1.96% | -0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.82% | 1.57% | +0.25% |