SIO vs. CGMS

Last updated Jun 4, 2026

SIO (Touchstone Strategic Income Opportunities 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, SIO returned 7.30%/yr vs 7.92%/yr for CGMS. A 0.76 correlation means they provide meaningful diversification when combined. SIO charges 0.65%/yr vs 0.39%/yr for CGMS.

Performance

SIO vs. CGMS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Touchstone Strategic Income Opportunities ETF (SIO) 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, SIO achieves a 0.79% return, which is significantly lower than CGMS's 1.54% return.

SIO

• 1D: -0.35%
• 1M: 0.27%
• YTD: 0.79%
• 6M: 1.08%
• 1Y: 6.63%
• 3Y*: 7.30%
• 5Y*: —
• 10Y*: —

CGMS

• 1D: -0.25%
• 1M: 0.56%
• YTD: 1.54%
• 6M: 1.68%
• 1Y: 7.10%
• 3Y*: 7.92%
• 5Y*: —
• 10Y*: —

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

SIO vs. CGMS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SIO Touchstone Strategic Income Opportunities ETF	0.79%	9.29%	6.15%	8.48%	3.94%
CGMS Capital Group U.S. Multi-Sector Income ETF	1.54%	7.52%	7.24%	11.51%	2.61%

Correlation

The correlation between SIO and CGMS is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (All Time) Calculated using the full available price history since Oct 28, 2022	0.76

The correlation between SIO and CGMS shifts across timeframes, from 0.64 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.

SIO vs. CGMS - Sectors Allocation Comparison

Sectors	SIO	CGMS
Communication Services	24.7%	-
Financial Services	12.4%	-
Consumer Cyclical	5.8%	-
Industrials	5.2%	-
Energy	3.9%	-
Real Estate	3.6%	91.8%
Basic Materials	3.2%	-
Technology	2.7%	8.2%
Utilities	2.6%	-
Healthcare	1.4%	-
Consumer Defensive	1.1%	-

Return for Risk

SIO vs. CGMS — Risk / Return Rank

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

SIO

SIO Risk / Return Rank: 47
SIO Sharpe Ratio Rank: 43
SIO Sortino Ratio Rank: 45
SIO Omega Ratio Rank: 45
SIO Calmar Ratio Rank: 52
SIO Martin Ratio Rank: 47

CGMS

CGMS Risk / Return Rank: 63
CGMS Sharpe Ratio Rank: 60
CGMS Sortino Ratio Rank: 67
CGMS Omega Ratio Rank: 64
CGMS Calmar Ratio Rank: 57
CGMS Martin Ratio Rank: 69

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.

SIO vs. CGMS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Touchstone Strategic Income Opportunities ETF (SIO) 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.

	SIO	CGMS	Difference
Sharpe ratio: Return per unit of total volatility	1.52	2.08	-0.55
Sortino ratio: Return per unit of downside risk	2.25	3.14	-0.88
Omega ratio: Gain probability vs. loss probability	1.28	1.39	-0.11
Calmar ratio: Return relative to maximum drawdown	2.54	2.88	-0.35
Martin ratio: Return relative to average drawdown	7.78	12.89	-5.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SIO vs. CGMS - Sharpe Ratio Comparison

The current SIO Sharpe Ratio is 1.52, which is comparable to the CGMS Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of SIO 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.

Sharpe Ratios by Period

	SIO	CGMS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	2.08	-0.55
Sharpe Ratio (All Time) Calculated using the full available price history	1.32	1.66	-0.34

Drawdowns

SIO vs. CGMS - Drawdown Comparison

The maximum SIO drawdown since its inception was -6.94%, which is greater than CGMS's maximum drawdown of -4.08%. Use the drawdown chart below to compare losses from any high point for SIO and CGMS.

Drawdown Indicators

	SIO	CGMS	Difference
Max Drawdown Largest peak-to-trough decline	-6.94%	-4.08%	-2.86%
Max Drawdown (1Y) Largest decline over 1 year	-2.62%	-2.47%	-0.15%
Max Drawdown (3Y) Largest decline over 3 years	-4.34%	-4.08%	-0.26%
Current Drawdown Current decline from peak	-1.13%	-0.25%	-0.88%
Average Drawdown Average peak-to-trough decline	-1.25%	-0.67%	-0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	0.55%	+0.30%

Volatility

SIO vs. CGMS - Volatility Comparison

Touchstone Strategic Income Opportunities ETF (SIO) and Capital Group U.S. Multi-Sector Income ETF (CGMS) have volatilities of 1.15% and 1.15%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIO	CGMS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	1.15%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	2.97%	2.66%	+0.31%
Volatility (1Y) Calculated over the trailing 1-year period	4.38%	3.43%	+0.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.00%	5.13%	-0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.00%	5.13%	-0.13%

SIO vs. CGMS - Expense Ratio Comparison

SIO has a 0.65% expense ratio, which is higher than CGMS's 0.39% expense ratio.

Dividends

SIO vs. CGMS - Dividend Comparison

SIO's dividend yield for the trailing twelve months is around 6.94%, more than CGMS's 6.09% yield.

Position	TTM	2025	2024	2023	2022
CGMS Capital Group U.S. Multi-Sector Income ETF	6.09%	6.00%	5.91%	5.84%	0.97%
SIO Touchstone Strategic Income Opportunities ETF	6.94%	6.80%	5.30%	5.37%	3.12%

Frequently Asked Questions

Can I hold both SIO and CGMS in my portfolio?

SIO and CGMS have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIO or CGMS?

CGMS has higher volatility (1.15%) compared to SIO (1.15%). In terms of maximum drawdown, SIO dropped -6.94% vs CGMS's -4.08%.

Which ETF is better, SIO or CGMS?

On 3-year performance, CGMS leads with 7.92% vs 7.30% for SIO. On fees, CGMS is cheaper at 0.39% 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, SIO or CGMS?

Over the 3-year period, CGMS has performed better with a 7.92% return vs 7.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIO or CGMS?

CGMS is cheaper with a 0.39% expense ratio, compared with 0.65% for SIO.

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

SIO has the higher dividend yield at 6.94%, compared with 6.09% for CGMS.

What is the main difference between SIO and CGMS?

They also come from different issuers: Touchstone and Capital Group. Their fees differ too: 0.65% for SIO and 0.39% for CGMS.

Which has better risk-adjusted returns?

CGMS currently has the higher Sharpe Ratio (2.08 vs 1.52), 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.