INMU vs. CGCP

Last updated Jun 3, 2026

INMU (BlackRock Intermediate Muni Income Bond ETF) and CGCP (Capital Group Core Plus Income ETF) are both exchange-traded funds - INMU is a Municipal Bonds fund actively managed by BlackRock, while CGCP is a Intermediate Core-Plus Bond fund actively managed by Capital Group. Both are actively managed. Over the past 3 years, INMU returned 4.89%/yr vs 5.18%/yr for CGCP. A 0.60 correlation means they provide meaningful diversification when combined. INMU charges 0.30%/yr vs 0.34%/yr for CGCP.

Performance

INMU vs. CGCP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Intermediate Muni Income Bond ETF (INMU) and Capital Group Core Plus Income ETF (CGCP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INMU achieves a 1.73% return, which is significantly higher than CGCP's 0.65% return.

INMU

• 1D: 0.17%
• 1M: 0.53%
• YTD: 1.73%
• 6M: 2.09%
• 1Y: 7.31%
• 3Y*: 4.89%
• 5Y*: 1.81%
• 10Y*: —

CGCP

• 1D: 0.13%
• 1M: 0.31%
• YTD: 0.65%
• 6M: 0.90%
• 1Y: 6.27%
• 3Y*: 5.18%
• 5Y*: —
• 10Y*: —

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

INMU vs. CGCP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
INMU BlackRock Intermediate Muni Income Bond ETF	1.73%	5.52%	2.77%	6.50%	-5.40%
CGCP Capital Group Core Plus Income ETF	0.65%	7.35%	2.95%	7.17%	-9.78%

Correlation

The correlation between INMU and CGCP is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (All Time) Calculated using the full available price history since Feb 25, 2022	0.60

The correlation between INMU and CGCP has been stable across timeframes, ranging from 0.51 to 0.60 - a consistent structural relationship.

Return for Risk

INMU vs. CGCP — Risk / Return Rank

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

INMU

INMU Risk / Return Rank: 76
INMU Sharpe Ratio Rank: 87
INMU Sortino Ratio Rank: 90
INMU Omega Ratio Rank: 93
INMU Calmar Ratio Rank: 55
INMU Martin Ratio Rank: 55

CGCP

CGCP Risk / Return Rank: 48
CGCP Sharpe Ratio Rank: 49
CGCP Sortino Ratio Rank: 52
CGCP Omega Ratio Rank: 49
CGCP Calmar Ratio Rank: 46
CGCP Martin Ratio Rank: 46

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.

INMU vs. CGCP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Intermediate Muni Income Bond ETF (INMU) and Capital Group Core Plus Income ETF (CGCP). 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.

	INMU	CGCP	Difference
Sharpe ratio Return per unit of total volatility	2.93	1.71	+1.22
Sortino ratio Return per unit of downside risk	4.30	2.54	+1.75
Omega ratio Gain probability vs. loss probability	1.66	1.31	+0.35
Calmar ratio Return relative to maximum drawdown	2.79	2.29	+0.50
Martin ratio Return relative to average drawdown	9.57	7.60	+1.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INMU vs. CGCP - Sharpe Ratio Comparison

The current INMU Sharpe Ratio is 2.93, which is higher than the CGCP Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of INMU and CGCP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	INMU	CGCP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.93	1.71	+1.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.27	+0.32

Drawdowns

INMU vs. CGCP - Drawdown Comparison

The maximum INMU drawdown since its inception was -10.67%, smaller than the maximum CGCP drawdown of -15.06%. Use the drawdown chart below to compare losses from any high point for INMU and CGCP.

Drawdown Indicators

	INMU	CGCP	Difference
Max Drawdown Largest peak-to-trough decline	-10.67%	-15.06%	+4.39%
Max Drawdown (1Y) Largest decline over 1 year	-2.58%	-2.59%	+0.01%
Max Drawdown (3Y) Largest decline over 3 years	-4.88%	-5.37%	+0.49%
Max Drawdown (5Y) Largest decline over 5 years	-10.67%	—	—
Current Drawdown Current decline from peak	-0.66%	-0.85%	+0.19%
Average Drawdown Average peak-to-trough decline	-2.81%	-4.93%	+2.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.75%	0.78%	-0.03%

Volatility

INMU vs. CGCP - Volatility Comparison

The current volatility for BlackRock Intermediate Muni Income Bond ETF (INMU) is 0.81%, while Capital Group Core Plus Income ETF (CGCP) has a volatility of 1.32%. This indicates that INMU experiences smaller price fluctuations and is considered to be less risky than CGCP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INMU	CGCP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.81%	1.32%	-0.51%
Volatility (6M) Calculated over the trailing 6-month period	1.88%	2.73%	-0.85%
Volatility (1Y) Calculated over the trailing 1-year period	2.51%	3.70%	-1.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.60%	6.36%	-2.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.54%	6.36%	-2.82%

INMU vs. CGCP - Expense Ratio Comparison

INMU has a 0.30% expense ratio, which is lower than CGCP's 0.34% expense ratio.

Dividends

INMU vs. CGCP - Dividend Comparison

INMU's dividend yield for the trailing twelve months is around 3.36%, less than CGCP's 5.14% yield.

Position	TTM	2025	2024	2023	2022	2021
CGCP Capital Group Core Plus Income ETF	5.14%	5.10%	5.17%	4.98%	2.96%	0.00%
INMU BlackRock Intermediate Muni Income Bond ETF	3.36%	3.48%	3.47%	3.44%	1.92%	1.14%

Frequently Asked Questions

Can I hold both INMU and CGCP in my portfolio?

INMU and CGCP have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INMU or CGCP?

CGCP has higher volatility (1.32%) compared to INMU (0.81%). In terms of maximum drawdown, INMU dropped -10.67% vs CGCP's -15.06%.

Which ETF is better, INMU or CGCP?

On 3-year performance, CGCP leads with 5.18% vs 4.89% for INMU. On fees, INMU is cheaper at 0.30% per year. On volatility, INMU has been the lower-risk option at 0.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, INMU or CGCP?

Over the 3-year period, CGCP has performed better with a 5.18% return vs 4.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, INMU or CGCP?

INMU is cheaper with a 0.30% expense ratio, compared with 0.34% for CGCP.

Which ETF pays a higher dividend yield, INMU or CGCP?

CGCP has the higher dividend yield at 5.14%, compared with 3.36% for INMU.

What is the main difference between INMU and CGCP?

INMU is categorized as Municipal Bonds, while CGCP is Intermediate Core-Plus Bond. They also come from different issuers: BlackRock and Capital Group. Their fees differ too: 0.30% for INMU and 0.34% for CGCP.

Which has better risk-adjusted returns?

INMU currently has the higher Sharpe Ratio (2.93 vs 1.71), 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.