MUSI vs. CGMS

Last updated Jun 23, 2026

MUSI (American Century Multisector Income ETF) and CGMS (Capital Group U.S. Multi-Sector Income ETF) are both Multisector Bonds funds. Both are actively managed. Over the past 3 years, MUSI returned 6.50%/yr vs 7.98%/yr for CGMS. Their correlation of 0.81 suggests significant overlap in exposure. MUSI charges 0.36%/yr vs 0.39%/yr for CGMS.

Performance

MUSI vs. CGMS - Performance Comparison

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

Returns By Period

In the year-to-date period, MUSI achieves a 0.76% return, which is significantly lower than CGMS's 1.51% return.

MUSI

• 1D: -0.21%
• 1M: 0.50%
• YTD: 0.76%
• 6M: 0.95%
• 1Y: 5.45%
• 3Y*: 6.50%
• 5Y*: —
• 10Y*: —

CGMS

• 1D: -0.22%
• 1M: 0.34%
• YTD: 1.51%
• 6M: 1.68%
• 1Y: 6.08%
• 3Y*: 7.98%
• 5Y*: —
• 10Y*: —

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

MUSI vs. CGMS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MUSI American Century Multisector Income ETF	0.76%	8.32%	5.14%	7.51%	2.45%
CGMS Capital Group U.S. Multi-Sector Income ETF	1.51%	7.52%	7.24%	11.51%	2.77%

Correlation

The correlation between MUSI and CGMS is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (All Time) Calculated using the full available price history since Oct 27, 2022	0.81

The correlation between MUSI and CGMS has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.

Return for Risk

MUSI vs. CGMS — Risk / Return Rank

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

MUSI

MUSI Risk / Return Rank: 46
MUSI Sharpe Ratio Rank: 48
MUSI Sortino Ratio Rank: 51
MUSI Omega Ratio Rank: 48
MUSI Calmar Ratio Rank: 40
MUSI Martin Ratio Rank: 43

CGMS

CGMS Risk / Return Rank: 55
CGMS Sharpe Ratio Rank: 53
CGMS Sortino Ratio Rank: 57
CGMS Omega Ratio Rank: 54
CGMS Calmar Ratio Rank: 51
CGMS Martin Ratio Rank: 63

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.

MUSI vs. CGMS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Multisector Income ETF (MUSI) 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.

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.

	MUSI	CGMS	Difference
Sharpe ratio: Return per unit of total volatility	1.62	1.74	-0.12
Sortino ratio: Return per unit of downside risk	2.43	2.62	-0.19
Omega ratio: Gain probability vs. loss probability	1.30	1.33	-0.03
Calmar ratio: Return relative to maximum drawdown	1.97	2.47	-0.50
Martin ratio: Return relative to average drawdown	6.79	10.95	-4.17

MUSI vs. CGMS - Sharpe Ratio Comparison

The current MUSI Sharpe Ratio is 1.62, which is comparable to the CGMS Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of MUSI and CGMS, 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

MUSI vs. CGMS - Drawdown Comparison

The maximum MUSI drawdown since its inception was -13.91%, which is greater than CGMS's maximum drawdown of -4.08%. Use the drawdown chart below to compare losses from any high point for MUSI and CGMS.

Drawdown Indicators

	MUSI	CGMS	Difference
Max Drawdown Largest peak-to-trough decline	-13.91%	-4.08%	-9.83%
Max Drawdown (1Y) Largest decline over 1 year	-2.78%	-2.47%	-0.31%
Max Drawdown (3Y) Largest decline over 3 years	-4.16%	-4.08%	-0.08%
Current Drawdown Current decline from peak	-0.98%	-0.44%	-0.54%
Average Drawdown Average peak-to-trough decline	-4.19%	-0.66%	-3.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.81%	0.56%	+0.25%

Volatility

MUSI vs. CGMS - Volatility Comparison

The current volatility for American Century Multisector Income ETF (MUSI) is 1.05%, while Capital Group U.S. Multi-Sector Income ETF (CGMS) has a volatility of 1.12%. This indicates that MUSI 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

	MUSI	CGMS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.05%	1.12%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	2.72%	2.79%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	3.38%	3.51%	-0.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.84%	5.12%	-0.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.84%	5.12%	-0.28%

MUSI vs. CGMS - Expense Ratio Comparison

MUSI has a 0.36% expense ratio, which is lower than CGMS's 0.39% expense ratio.

Dividends

MUSI vs. CGMS - Dividend Comparison

MUSI's dividend yield for the trailing twelve months is around 5.53%, less than CGMS's 6.10% yield.

Position	TTM	2025	2024	2023	2022	2021
CGMS Capital Group U.S. Multi-Sector Income ETF	6.10%	6.00%	5.91%	5.84%	0.97%	0.00%
MUSI American Century Multisector Income ETF	5.53%	5.74%	6.00%	5.20%	4.02%	1.62%

Frequently Asked Questions

Can I hold both MUSI and CGMS in my portfolio?

MUSI and CGMS have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MUSI or CGMS?

CGMS has higher volatility (1.12%) compared to MUSI (1.05%). In terms of maximum drawdown, MUSI dropped -13.91% vs CGMS's -4.08%.

Which ETF is better, MUSI or CGMS?

On 3-year performance, CGMS leads with 7.98% vs 6.50% for MUSI. On fees, MUSI is cheaper at 0.36% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MUSI or CGMS?

Over the 3-year period, CGMS has performed better with a 7.98% return vs 6.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MUSI or CGMS?

MUSI is cheaper with a 0.36% expense ratio, compared with 0.39% for CGMS.

Which ETF pays a higher dividend yield, MUSI or CGMS?

CGMS has the higher dividend yield at 6.10%, compared with 5.53% for MUSI.

What is the main difference between MUSI and CGMS?

They also come from different issuers: American Century and Capital Group. Their fees differ too: 0.36% for MUSI and 0.39% for CGMS.

Which has better risk-adjusted returns?

CGMS currently has the higher Sharpe Ratio (1.74 vs 1.62), 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.