SASS vs. CGHY

Last updated Aug 6, 2026

SASS (M.D. Sass Concentrated Value ETF) and CGHY (Capital Group High Yield Bond ETF) are both exchange-traded funds - SASS is a Actively Managed fund actively managed by M.D. Sass, while CGHY is a High Yield Bonds fund actively managed by Capital Group. Both are actively managed. Their 0.77 correlation means they have sometimes moved together and sometimes differently. SASS charges 0.75%/yr vs 0.39%/yr for CGHY.

Performance

SASS vs. CGHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in M.D. Sass Concentrated Value ETF (SASS) and Capital Group High Yield Bond ETF (CGHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SASS

• 1D: 0.35%
• 1M: 0.78%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

CGHY

• 1D: 0.01%
• 1M: 0.00%
• 6M: 1.97%
• YTD: 2.38%
• 1Y: 5.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.67%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CGHY Capital Group High Yield Bond ETF	$932.75K	$956.06K	$1.53M
SASS M.D. Sass Concentrated Value ETF	$5.05K	$3.32K	$39.43K

SASS vs. CGHY - Yearly Performance Comparison

	2026 (YTD)
SASS M.D. Sass Concentrated Value ETF	0.54%
CGHY Capital Group High Yield Bond ETF	1.62%

Correlation

The correlation between SASS and CGHY is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 4, 2026	0.77

Return for Risk

SASS vs. CGHY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SASS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

CGHY

CGHY Risk / Return Rank: 68
CGHY Sharpe Ratio Rank: 63
CGHY Sortino Ratio Rank: 73
CGHY Omega Ratio Rank: 69
CGHY Calmar Ratio Rank: 59
CGHY Martin Ratio Rank: 74

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SASS vs. CGHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for M.D. Sass Concentrated Value ETF (SASS) and Capital Group High Yield Bond ETF (CGHY). 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.

	SASS	CGHY	Difference
Sharpe ratio: Return per unit of total volatility	—	1.70	—
Sortino ratio: Return per unit of downside risk	—	2.68	—
Omega ratio: Gain probability vs. loss probability	—	1.33	—
Calmar ratio: Return relative to maximum drawdown	—	2.38	—
Martin ratio: Return relative to average drawdown	—	10.56	—

Drawdowns

SASS vs. CGHY - Drawdown Comparison

The maximum SASS drawdown since its inception was -9.61%, which is greater than CGHY's maximum drawdown of -2.38%. Use the drawdown chart below to compare losses from any high point for SASS and CGHY.

Drawdown Indicators

	SASS	CGHY	Difference
Max Drawdown Largest peak-to-trough decline	-9.61%	-2.38%	-7.23%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.38%	—
Current Drawdown Current decline from peak	-0.52%	0.00%	-0.52%
Average Drawdown Average peak-to-trough decline	-3.48%	-0.31%	-3.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.53%	—

Volatility

Volatility by Period

	SASS	CGHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.86%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.78%	—
Volatility (1Y) Calculated over the trailing 1-year period	17.07%	3.33%	+13.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.07%	3.26%	+13.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.07%	3.26%	+13.81%

SASS vs. CGHY - Expense Ratio Comparison

SASS has a 0.75% expense ratio, which is higher than CGHY's 0.39% expense ratio.

Dividends

SASS vs. CGHY - Dividend Comparison

SASS has not paid dividends to shareholders, while CGHY's dividend yield for the trailing twelve months is around 5.49%.

Position	TTM	2025
CGHY Capital Group High Yield Bond ETF	5.49%	3.09%
SASS M.D. Sass Concentrated Value ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both SASS and CGHY in my portfolio?

SASS and CGHY have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SASS or CGHY?

On fees, CGHY is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SASS or CGHY?

CGHY is cheaper with a 0.39% expense ratio, compared with 0.75% for SASS.

Which ETF pays a higher dividend yield, SASS or CGHY?

CGHY has the higher dividend yield at 5.49%, compared with 0.00% for SASS.

What is the main difference between SASS and CGHY?

SASS is categorized as Actively Managed, while CGHY is High Yield Bonds. They also come from different issuers: M.D. Sass and Capital Group. Their fees differ too: 0.75% for SASS and 0.39% for CGHY.