ICMUX vs. CGMS

Last updated Apr 1, 2026

Compare and contrast key facts about Intrepid Income Fund (ICMUX) and Capital Group U.S. Multi-Sector Income ETF (CGMS).

ICMUX is managed by Intrepid Funds. It was launched on Jul 1, 2007. CGMS is an actively managed fund by Capital Group. It was launched on Oct 25, 2022.

Performance

ICMUX vs. CGMS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Intrepid Income Fund (ICMUX) and Capital Group U.S. Multi-Sector Income ETF (CGMS). The values are adjusted to include any dividend payments, if applicable.

ICMUX vs. CGMS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ICMUX Intrepid Income Fund	-0.24%	8.16%	10.43%	10.90%	1.46%
CGMS Capital Group U.S. Multi-Sector Income ETF	-0.24%	7.52%	7.24%	11.51%	2.61%

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with ICMUX at -0.24% and CGMS at -0.24%.

ICMUX

• 1D: 0.11%
• 1M: -0.34%
• YTD: -0.24%
• 6M: 0.95%
• 1Y: 6.58%
• 3Y*: 9.12%
• 5Y*: 6.22%
• 10Y*: 5.93%

CGMS

• 1D: 0.78%
• 1M: -1.23%
• YTD: -0.24%
• 6M: 0.95%
• 1Y: 5.78%
• 3Y*: 7.33%
• 5Y*: —
• 10Y*: —

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

ICMUX vs. CGMS - Expense Ratio Comparison

ICMUX has a 0.91% expense ratio, which is higher than CGMS's 0.39% expense ratio.

ICMUX

Intrepid Income Fund

CGMS

Capital Group U.S. Multi-Sector Income ETF

Return for Risk

ICMUX vs. CGMS — Risk / Return Rank

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

ICMUX

ICMUX Risk / Return Rank: 94
ICMUX Sharpe Ratio Rank: 97
ICMUX Sortino Ratio Rank: 96
ICMUX Omega Ratio Rank: 97
ICMUX Calmar Ratio Rank: 91
ICMUX Martin Ratio Rank: 90

CGMS

CGMS Risk / Return Rank: 72
CGMS Sharpe Ratio Rank: 75
CGMS Sortino Ratio Rank: 74
CGMS Omega Ratio Rank: 74
CGMS Calmar Ratio Rank: 65
CGMS Martin Ratio Rank: 71

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.

ICMUX vs. CGMS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Intrepid Income Fund (ICMUX) and Capital Group U.S. Multi-Sector Income ETF (CGMS). 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.

	ICMUX	CGMS	Difference
Sharpe ratio Return per unit of total volatility	2.52	1.31	+1.22
Sortino ratio Return per unit of downside risk	3.40	1.82	+1.58
Omega ratio Gain probability vs. loss probability	1.62	1.27	+0.36
Calmar ratio Return relative to maximum drawdown	2.60	1.58	+1.02
Martin ratio Return relative to average drawdown	10.35	6.94	+3.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ICMUX vs. CGMS - Sharpe Ratio Comparison

The current ICMUX Sharpe Ratio is 2.52, which is higher than the CGMS Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of ICMUX and CGMS, 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

	ICMUX	CGMS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.52	1.31	+1.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.35	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	2.30	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.04	1.62	+0.42

Correlation

The correlation between ICMUX and CGMS is 0.48, 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

ICMUX vs. CGMS - Dividend Comparison

ICMUX's dividend yield for the trailing twelve months is around 7.03%, more than CGMS's 5.95% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICMUX Intrepid Income Fund	7.03%	7.96%	7.85%	9.10%	8.17%	5.99%	5.56%	3.35%	3.07%	2.86%	3.01%	3.53%
CGMS Capital Group U.S. Multi-Sector Income ETF	5.95%	6.00%	5.91%	5.84%	0.97%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

ICMUX vs. CGMS - Drawdown Comparison

The maximum ICMUX drawdown since its inception was -8.77%, which is greater than CGMS's maximum drawdown of -4.08%. Use the drawdown chart below to compare losses from any high point for ICMUX and CGMS.

Drawdown Indicators

	ICMUX	CGMS	Difference
Max Drawdown Largest peak-to-trough decline	-8.77%	-4.08%	-4.69%
Max Drawdown (1Y) Largest decline over 1 year	-2.46%	-3.65%	+1.19%
Max Drawdown (5Y) Largest decline over 5 years	-5.64%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-8.77%	—	—
Current Drawdown Current decline from peak	-1.12%	-1.42%	+0.30%
Average Drawdown Average peak-to-trough decline	-0.74%	-0.69%	-0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.62%	0.83%	-0.21%

Volatility

ICMUX vs. CGMS - Volatility Comparison

The current volatility for Intrepid Income Fund (ICMUX) is 0.77%, while Capital Group U.S. Multi-Sector Income ETF (CGMS) has a volatility of 1.93%. This indicates that ICMUX experiences smaller price fluctuations and is considered to be less risky than CGMS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICMUX	CGMS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.77%	1.93%	-1.16%
Volatility (6M) Calculated over the trailing 6-month period	1.38%	2.47%	-1.09%
Volatility (1Y) Calculated over the trailing 1-year period	2.59%	4.44%	-1.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.66%	5.19%	-2.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.58%	5.19%	-2.61%