QIS vs. CGHM
QIS (Simplify Multi-Qis Alternative ETF) and CGHM (Capital Group Municipal High-Income ETF) are both exchange-traded funds - QIS is a Multistrategy fund actively managed by Simplify, while CGHM is a High Yield Muni fund actively managed by Capital Group. Both are actively managed. Over the past year, QIS returned -48.32% vs 7.43% for CGHM. Their -0.05 correlation means they have often moved in opposite directions in the past. QIS charges 1.00%/yr vs 0.34%/yr for CGHM.
Performance
QIS vs. CGHM - Performance Comparison
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Returns By Period
In the year-to-date period, QIS achieves a -31.94% return, which is significantly lower than CGHM's 1.75% return.
QIS
- 1D
- 2.58%
- 1M
- 2.94%
- 6M
- -34.00%
- YTD
- -31.94%
- 1Y
- -48.32%
- 3Y*
- -24.55%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -24.05%
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 | |
| $8.01K | $6.87K | $26.74K |
QIS vs. CGHM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QIS Simplify Multi-Qis Alternative ETF | -31.94% | -38.02% | -2.49% |
CGHM Capital Group Municipal High-Income ETF | 1.75% | 4.56% | 2.75% |
Correlation
The correlation between QIS and CGHM is -0.26, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.26 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2024 | -0.05 |
Over the past year, the inverse relationship between QIS and CGHM has strengthened: their correlation has moved from -0.05 to -0.26, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
QIS vs. CGHM — Risk / Return Rank
QIS
CGHM
QIS vs. CGHM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Multi-Qis Alternative ETF (QIS) 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.
| QIS | CGHM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.89 | ||
| Sortino ratioReturn per unit of downside risk | -5.78 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 1.57 | -0.80 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | 3.22 | -4.15 |
| Martin ratioReturn relative to average drawdown | -1.62 | 11.90 | -13.53 |
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Drawdowns
QIS vs. CGHM - Drawdown Comparison
The maximum QIS drawdown since its inception was -62.82%, which is greater than CGHM's maximum drawdown of -5.90%. Use the drawdown chart below to compare losses from any high point for QIS and CGHM.
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Drawdown Indicators
| QIS | CGHM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.82% | -5.90% | -56.92% |
Max Drawdown (1Y)Largest decline over 1 year | -54.47% | -2.55% | -51.92% |
Max Drawdown (3Y)Largest decline over 3 years | -62.82% | — | — |
Current DrawdownCurrent decline from peak | -60.09% | -1.71% | -58.38% |
Average DrawdownAverage peak-to-trough decline | -16.05% | -1.19% | -14.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.13% | 0.69% | +30.44% |
Volatility
QIS vs. CGHM - Volatility Comparison
Simplify Multi-Qis Alternative ETF (QIS) has a higher volatility of 14.48% compared to Capital Group Municipal High-Income ETF (CGHM) at 0.91%. This indicates that QIS's price experiences larger fluctuations and is considered to be riskier than CGHM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QIS | CGHM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.48% | 0.91% | +13.57% |
Volatility (6M)Calculated over the trailing 6-month period | 32.96% | 2.41% | +30.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.15% | 3.13% | +37.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.10% | 4.42% | +25.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.10% | 4.42% | +25.68% |
QIS vs. CGHM - Expense Ratio Comparison
QIS has a 1.00% expense ratio, which is higher than CGHM's 0.34% expense ratio.
Dividends
QIS vs. CGHM - Dividend Comparison
QIS's dividend yield for the trailing twelve months is around 2.00%, less than CGHM's 3.70% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CGHM Capital Group Municipal High-Income ETF | 3.70% | 3.61% | 1.78% | 0.00% |
QIS Simplify Multi-Qis Alternative ETF | 2.00% | 3.37% | 1.07% | 3.29% |
Frequently Asked Questions
QIS and CGHM have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QIS has higher volatility (14.48%) compared to CGHM (0.91%). In terms of maximum drawdown, QIS dropped -62.82% vs CGHM's -5.90%.
On 1-year performance, CGHM leads with 7.43% vs -48.32% for QIS. On fees, CGHM is cheaper at 0.34% per year. On volatility, CGHM has been the lower-risk option at 0.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CGHM has performed better with a 7.43% return vs -48.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CGHM is cheaper with a 0.34% expense ratio, compared with 1.00% for QIS.
CGHM has the higher dividend yield at 3.70%, compared with 2.00% for QIS.
QIS is categorized as Multistrategy, while CGHM is High Yield Muni. They also come from different issuers: Simplify and Capital Group. Their fees differ too: 1.00% for QIS and 0.34% for CGHM.
CGHM currently has the higher Sharpe Ratio (2.62 vs -1.26), 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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