HIMFX vs. CGHM

Last updated Apr 1, 2026

Compare and contrast key facts about American High-Income Municipal Bond Fund Class F-3 (HIMFX) and Capital Group Municipal High-Income ETF (CGHM).

HIMFX is an actively managed fund by Capital Group. It was launched on Jan 27, 2017. CGHM is an actively managed fund by Capital Group. It was launched on Jun 25, 2024.

Performance

HIMFX vs. CGHM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American High-Income Municipal Bond Fund Class F-3 (HIMFX) and Capital Group Municipal High-Income ETF (CGHM). The values are adjusted to include any dividend payments, if applicable.

HIMFX vs. CGHM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HIMFX American High-Income Municipal Bond Fund Class F-3	-0.45%	4.69%	2.74%
CGHM Capital Group Municipal High-Income ETF	0.35%	4.56%	2.71%

Returns By Period

In the year-to-date period, HIMFX achieves a -0.45% return, which is significantly lower than CGHM's 0.35% return.

HIMFX

• 1D: 0.07%
• 1M: -2.70%
• YTD: -0.45%
• 6M: 1.33%
• 1Y: 3.90%
• 3Y*: 5.19%
• 5Y*: 1.71%
• 10Y*: —

CGHM

• 1D: 0.40%
• 1M: -1.93%
• YTD: 0.35%
• 6M: 2.28%
• 1Y: 4.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HIMFX vs. CGHM - Expense Ratio Comparison

HIMFX has a 0.31% expense ratio, which is lower than CGHM's 0.34% expense ratio.

CGHM

Capital Group Municipal High-Income ETF

HIMFX

American High-Income Municipal Bond Fund Class F-3

Return for Risk

HIMFX vs. CGHM — Risk / Return Rank

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

HIMFX

HIMFX Risk / Return Rank: 32
HIMFX Sharpe Ratio Rank: 29
HIMFX Sortino Ratio Rank: 24
HIMFX Omega Ratio Rank: 52
HIMFX Calmar Ratio Rank: 31
HIMFX Martin Ratio Rank: 24

CGHM

CGHM Risk / Return Rank: 46
CGHM Sharpe Ratio Rank: 54
CGHM Sortino Ratio Rank: 42
CGHM Omega Ratio Rank: 63
CGHM Calmar Ratio Rank: 39
CGHM Martin Ratio Rank: 33

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.

HIMFX vs. CGHM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American High-Income Municipal Bond Fund Class F-3 (HIMFX) and Capital Group Municipal High-Income ETF (CGHM). 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.

	HIMFX	CGHM	Difference
Sharpe ratio Return per unit of total volatility	0.72	1.00	-0.28
Sortino ratio Return per unit of downside risk	0.97	1.25	-0.28
Omega ratio Gain probability vs. loss probability	1.21	1.24	-0.02
Calmar ratio Return relative to maximum drawdown	0.87	1.03	-0.16
Martin ratio Return relative to average drawdown	2.64	2.98	-0.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HIMFX vs. CGHM - Sharpe Ratio Comparison

The current HIMFX Sharpe Ratio is 0.72, which is comparable to the CGHM Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of HIMFX and CGHM, 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

	HIMFX	CGHM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.72	1.00	-0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	0.94	-0.14

Correlation

The correlation between HIMFX and CGHM is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

HIMFX vs. CGHM - Dividend Comparison

HIMFX's dividend yield for the trailing twelve months is around 4.00%, more than CGHM's 3.76% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
HIMFX American High-Income Municipal Bond Fund Class F-3	4.00%	4.32%	3.83%	3.71%	2.80%	3.54%	3.73%	3.49%	3.99%	3.61%
CGHM Capital Group Municipal High-Income ETF	3.76%	3.61%	1.78%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

HIMFX vs. CGHM - Drawdown Comparison

The maximum HIMFX drawdown since its inception was -17.57%, which is greater than CGHM's maximum drawdown of -5.90%. Use the drawdown chart below to compare losses from any high point for HIMFX and CGHM.

Drawdown Indicators

	HIMFX	CGHM	Difference
Max Drawdown Largest peak-to-trough decline	-17.57%	-5.90%	-11.67%
Max Drawdown (1Y) Largest decline over 1 year	-5.60%	-4.98%	-0.62%
Max Drawdown (5Y) Largest decline over 5 years	-17.57%	—	—
Current Drawdown Current decline from peak	-2.70%	-1.93%	-0.77%
Average Drawdown Average peak-to-trough decline	-3.21%	-1.30%	-1.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	1.72%	+0.13%

Volatility

HIMFX vs. CGHM - Volatility Comparison

The current volatility for American High-Income Municipal Bond Fund Class F-3 (HIMFX) is 1.08%, while Capital Group Municipal High-Income ETF (CGHM) has a volatility of 1.55%. This indicates that HIMFX experiences smaller price fluctuations and is considered to be less risky than CGHM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIMFX	CGHM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	1.55%	-0.47%
Volatility (6M) Calculated over the trailing 6-month period	1.87%	2.13%	-0.26%
Volatility (1Y) Calculated over the trailing 1-year period	6.36%	4.97%	+1.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.78%	4.65%	+0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.62%	4.65%	-0.03%