LISAX vs. CGMU

Last updated Jun 24, 2026

LISAX (Lord Abbett Intermediate Tax Free Fund) and CGMU (Capital Group Municipal Income ETF) are both Municipal Bonds funds. Over the past 3 years, LISAX returned 4.04%/yr vs 4.47%/yr for CGMU. A 0.68 correlation means they provide meaningful diversification when combined. LISAX charges 0.71%/yr vs 0.27%/yr for CGMU.

Performance

LISAX vs. CGMU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lord Abbett Intermediate Tax Free Fund (LISAX) and Capital Group Municipal Income ETF (CGMU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LISAX achieves a 1.55% return, which is significantly lower than CGMU's 1.65% return.

LISAX

• 1D: 0.00%
• 1M: 1.46%
• YTD: 1.55%
• 6M: 1.94%
• 1Y: 6.41%
• 3Y*: 4.04%
• 5Y*: 0.72%
• 10Y*: 1.89%

CGMU

• 1D: -0.07%
• 1M: 1.15%
• YTD: 1.65%
• 6M: 1.75%
• 1Y: 6.27%
• 3Y*: 4.47%
• 5Y*: —
• 10Y*: —

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

LISAX vs. CGMU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
LISAX Lord Abbett Intermediate Tax Free Fund	1.55%	5.22%	2.15%	5.89%	4.66%
CGMU Capital Group Municipal Income ETF	1.65%	5.19%	2.64%	6.76%	4.65%

Correlation

The correlation between LISAX and CGMU is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (All Time) Calculated using the full available price history since Oct 27, 2022	0.68

The correlation between LISAX and CGMU has been stable across timeframes, ranging from 0.62 to 0.68 - a consistent structural relationship.

Return for Risk

LISAX vs. CGMU — Risk / Return Rank

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

LISAX

LISAX Risk / Return Rank: 68
LISAX Sharpe Ratio Rank: 89
LISAX Sortino Ratio Rank: 92
LISAX Omega Ratio Rank: 95
LISAX Calmar Ratio Rank: 35
LISAX Martin Ratio Rank: 31

CGMU

CGMU Risk / Return Rank: 75
CGMU Sharpe Ratio Rank: 89
CGMU Sortino Ratio Rank: 90
CGMU Omega Ratio Rank: 93
CGMU Calmar Ratio Rank: 53
CGMU Martin Ratio Rank: 49

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.

LISAX vs. CGMU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lord Abbett Intermediate Tax Free Fund (LISAX) and Capital Group Municipal Income ETF (CGMU). 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.

	LISAX	CGMU	Difference
Sharpe ratio: Return per unit of total volatility	2.70	2.76	-0.06
Sortino ratio: Return per unit of downside risk	4.23	3.93	+0.30
Omega ratio: Gain probability vs. loss probability	1.74	1.59	+0.15
Calmar ratio: Return relative to maximum drawdown	2.08	2.47	-0.39
Martin ratio: Return relative to average drawdown	6.61	7.84	-1.23

LISAX vs. CGMU - Sharpe Ratio Comparison

The current LISAX Sharpe Ratio is 2.70, which is comparable to the CGMU Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of LISAX and CGMU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LISAX vs. CGMU - Drawdown Comparison

The maximum LISAX drawdown since its inception was -15.18%, which is greater than CGMU's maximum drawdown of -4.11%. Use the drawdown chart below to compare losses from any high point for LISAX and CGMU.

Drawdown Indicators

	LISAX	CGMU	Difference
Max Drawdown Largest peak-to-trough decline	-15.18%	-4.11%	-11.07%
Max Drawdown (1Y) Largest decline over 1 year	-3.14%	-2.55%	-0.59%
Max Drawdown (3Y) Largest decline over 3 years	-4.63%	-3.89%	-0.74%
Max Drawdown (5Y) Largest decline over 5 years	-15.18%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-15.18%	—	—
Current Drawdown Current decline from peak	-0.86%	-0.64%	-0.22%
Average Drawdown Average peak-to-trough decline	-2.16%	-0.84%	-1.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	0.80%	+0.19%

Volatility

LISAX vs. CGMU - Volatility Comparison

Lord Abbett Intermediate Tax Free Fund (LISAX) has a higher volatility of 0.66% compared to Capital Group Municipal Income ETF (CGMU) at 0.62%. This indicates that LISAX's price experiences larger fluctuations and is considered to be riskier than CGMU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LISAX	CGMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.66%	0.62%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	1.91%	1.73%	+0.18%
Volatility (1Y) Calculated over the trailing 1-year period	2.43%	2.28%	+0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.37%	3.46%	-0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.69%	3.46%	+0.23%

LISAX vs. CGMU - Expense Ratio Comparison

LISAX has a 0.71% expense ratio, which is higher than CGMU's 0.27% expense ratio.

Dividends

LISAX vs. CGMU - Dividend Comparison

LISAX's dividend yield for the trailing twelve months is around 3.43%, more than CGMU's 3.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CGMU Capital Group Municipal Income ETF	3.32%	3.32%	3.21%	3.08%	0.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
LISAX Lord Abbett Intermediate Tax Free Fund	3.43%	3.95%	2.91%	2.51%	1.80%	2.06%	2.33%	2.85%	2.62%	2.42%	2.60%	2.82%

Frequently Asked Questions

Can I hold both LISAX and CGMU in my portfolio?

LISAX and CGMU have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LISAX or CGMU?

LISAX has higher volatility (0.66%) compared to CGMU (0.62%). In terms of maximum drawdown, LISAX dropped -15.18% vs CGMU's -4.11%.

Which has better risk-adjusted returns?

CGMU currently has the higher Sharpe Ratio (2.76 vs 2.70), 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.