CGSM vs. VSDM

Last updated Apr 2, 2026

Compare and contrast key facts about Capital Group Short Duration Municipal Income ETF (CGSM) and Vanguard Short Duration Tax-Exempt Bond ETF (VSDM).

CGSM and VSDM 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. VSDM is an actively managed fund by Vanguard. It was launched on Nov 21, 2024.

Performance

CGSM vs. VSDM - Performance Comparison

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

CGSM vs. VSDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CGSM Capital Group Short Duration Municipal Income ETF	0.57%	4.58%	-0.04%
VSDM Vanguard Short Duration Tax-Exempt Bond ETF	0.47%	5.39%	-0.15%

Returns By Period

In the year-to-date period, CGSM achieves a 0.57% return, which is significantly higher than VSDM's 0.47% return.

CGSM

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

VSDM

• 1D: 0.17%
• 1M: -0.94%
• YTD: 0.47%
• 6M: 1.20%
• 1Y: 4.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CGSM vs. VSDM - Expense Ratio Comparison

CGSM has a 0.25% expense ratio, which is higher than VSDM's 0.12% 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%.

CGSM

Capital Group Short Duration Municipal Income ETF

VSDM

Vanguard Short Duration Tax-Exempt Bond ETF

Return for Risk

CGSM vs. VSDM — Risk / Return Rank

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

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

VSDM

VSDM Risk / Return Rank: 88
VSDM Sharpe Ratio Rank: 91
VSDM Sortino Ratio Rank: 90
VSDM Omega Ratio Rank: 97
VSDM Calmar Ratio Rank: 82
VSDM Martin Ratio Rank: 78

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. VSDM - 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 Duration Tax-Exempt Bond ETF (VSDM). 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	VSDM	Difference
Sharpe ratio Return per unit of total volatility	2.54	2.09	+0.46
Sortino ratio Return per unit of downside risk	3.44	2.62	+0.82
Omega ratio Gain probability vs. loss probability	1.58	1.56	+0.02
Calmar ratio Return relative to maximum drawdown	3.09	2.53	+0.56
Martin ratio Return relative to average drawdown	11.13	9.01	+2.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CGSM vs. VSDM - Sharpe Ratio Comparison

The current CGSM Sharpe Ratio is 2.54, which is comparable to the VSDM Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of CGSM and VSDM, 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

	CGSM	VSDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.54	2.09	+0.46
Sharpe Ratio (All Time) Calculated using the full available price history	2.87	2.10	+0.77

Correlation

The correlation between CGSM and VSDM is 0.54, 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. VSDM - Dividend Comparison

CGSM's dividend yield for the trailing twelve months is around 3.06%, less than VSDM's 3.11% yield.

	TTM	2025	2024	2023
CGSM Capital Group Short Duration Municipal Income ETF	3.06%	3.05%	3.11%	0.84%
VSDM Vanguard Short Duration Tax-Exempt Bond ETF	3.11%	3.06%	0.35%	0.00%

Drawdowns

CGSM vs. VSDM - Drawdown Comparison

The maximum CGSM drawdown since its inception was -1.42%, smaller than the maximum VSDM drawdown of -1.81%. Use the drawdown chart below to compare losses from any high point for CGSM and VSDM.

Drawdown Indicators

	CGSM	VSDM	Difference
Max Drawdown Largest peak-to-trough decline	-1.42%	-1.81%	+0.39%
Max Drawdown (1Y) Largest decline over 1 year	-1.38%	-1.81%	+0.43%
Current Drawdown Current decline from peak	-0.93%	-1.08%	+0.15%
Average Drawdown Average peak-to-trough decline	-0.22%	-0.27%	+0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.38%	0.51%	-0.13%

Volatility

CGSM vs. VSDM - Volatility Comparison

The current volatility for Capital Group Short Duration Municipal Income ETF (CGSM) is 0.58%, while Vanguard Short Duration Tax-Exempt Bond ETF (VSDM) has a volatility of 0.73%. This indicates that CGSM experiences smaller price fluctuations and is considered to be less risky than VSDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGSM	VSDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.58%	0.73%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	0.86%	1.01%	-0.15%
Volatility (1Y) Calculated over the trailing 1-year period	1.63%	2.09%	-0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.81%	2.02%	-0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.81%	2.02%	-0.21%