HIMFX vs. CGHM
HIMFX (American High-Income Municipal Bond Fund Class F-3) and CGHM (Capital Group Municipal High-Income ETF) are both High Yield Muni funds from Capital Group. Both are actively managed. Over the past year, HIMFX returned 6.78% vs 7.43% for CGHM. Their 0.74 correlation means they have sometimes moved together and sometimes differently. HIMFX charges 0.31%/yr vs 0.34%/yr for CGHM.
Performance
HIMFX vs. CGHM - Performance Comparison
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Returns By Period
In the year-to-date period, HIMFX achieves a 1.52% return, which is significantly lower than CGHM's 1.75% return.
HIMFX
- 1D
- -0.26%
- 1M
- -1.87%
- 6M
- 0.85%
- YTD
- 1.52%
- 1Y
- 6.78%
- 3Y*
- 5.31%
- 5Y*
- 1.30%
- 10Y*
- —
- ALL TIME*
- 3.75%
CGHM
- 1D
- -0.10%
- 1M
- -1.68%
- 6M
- 1.34%
- YTD
- 1.75%
- 1Y
- 7.43%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.31M | $10.88M | $11.27M | |
| $0.00 | $0.00 | $0.00 |
HIMFX vs. CGHM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HIMFX American High-Income Municipal Bond Fund Class F-3 | 1.52% | 4.69% | 2.81% |
CGHM Capital Group Municipal High-Income ETF | 1.75% | 4.56% | 2.75% |
Correlation
The correlation between HIMFX and CGHM is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2024 | 0.74 |
The correlation between HIMFX and CGHM has been stable across timeframes, ranging from 0.71 to 0.74 - a consistent structural relationship.
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Return for Risk
HIMFX vs. CGHM — Risk / Return Rank
HIMFX
CGHM
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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HIMFX | CGHM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.57 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.88 | 3.22 | -0.34 |
| Martin ratioReturn relative to average drawdown | 10.12 | 11.90 | -1.79 |
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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.
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Drawdown Indicators
| HIMFX | CGHM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.57% | -5.90% | -11.67% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -2.55% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -6.14% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.57% | — | — |
Current DrawdownCurrent decline from peak | -1.87% | -1.71% | -0.16% |
Average DrawdownAverage peak-to-trough decline | -3.13% | -1.19% | -1.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 0.69% | +0.10% |
Volatility
HIMFX vs. CGHM - Volatility Comparison
American High-Income Municipal Bond Fund Class F-3 (HIMFX) and Capital Group Municipal High-Income ETF (CGHM) have volatilities of 0.92% and 0.91%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIMFX | CGHM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 0.91% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.39% | 2.41% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.09% | 3.13% | -0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.85% | 4.42% | +0.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.57% | 4.42% | +0.15% |
HIMFX vs. CGHM - Expense Ratio Comparison
HIMFX has a 0.31% expense ratio, which is lower than CGHM's 0.34% expense ratio.
Dividends
HIMFX vs. CGHM - Dividend Comparison
HIMFX's dividend yield for the trailing twelve months is around 3.91%, more than CGHM's 3.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CGHM Capital Group Municipal High-Income ETF | 3.70% | 3.61% | 1.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HIMFX American High-Income Municipal Bond Fund Class F-3 | 3.91% | 4.32% | 3.83% | 3.71% | 2.80% | 3.54% | 3.73% | 3.49% | 3.99% | 3.61% |
Frequently Asked Questions
HIMFX and CGHM have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HIMFX has higher volatility (0.92%) compared to CGHM (0.91%). In terms of maximum drawdown, HIMFX dropped -17.57% vs CGHM's -5.90%.
CGHM currently has the higher Sharpe Ratio (2.62 vs 2.58), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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