SLQD vs. CGMU
SLQD (iShares 0-5 Year Investment Grade Corporate Bond ETF) and CGMU (Capital Group Municipal Income ETF) are both exchange-traded funds - SLQD is a Corporate Bonds fund tracking the Markit iBoxx USD Liquid Investment Grade 0-5 Index, while CGMU is a Municipal Bonds fund actively managed by Capital Group. SLQD is passively managed, while CGMU is actively managed. Over the past 3 years, SLQD returned 5.51%/yr vs 4.63%/yr for CGMU. A 0.63 correlation means they provide meaningful diversification when combined. SLQD charges 0.06%/yr vs 0.27%/yr for CGMU.
Performance
SLQD vs. CGMU - Performance Comparison
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Returns By Period
In the year-to-date period, SLQD achieves a 1.01% return, which is significantly lower than CGMU's 1.39% return.
SLQD
- 1D
- -0.02%
- 1M
- 0.26%
- YTD
- 1.01%
- 6M
- 1.39%
- 1Y
- 4.39%
- 3Y*
- 5.51%
- 5Y*
- 2.53%
- 10Y*
- 2.71%
CGMU
- 1D
- -0.07%
- 1M
- 0.56%
- YTD
- 1.39%
- 6M
- 1.82%
- 1Y
- 6.32%
- 3Y*
- 4.63%
- 5Y*
- —
- 10Y*
- —
SLQD vs. CGMU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 1.01% | 6.27% | 4.94% | 5.98% | 1.94% |
CGMU Capital Group Municipal Income ETF | 1.39% | 5.19% | 2.64% | 6.76% | 4.65% |
Correlation
The correlation between SLQD and CGMU is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2022 | 0.63 |
The correlation between SLQD and CGMU shifts across timeframes, from 0.45 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SLQD vs. CGMU — Risk / Return Rank
SLQD
CGMU
SLQD vs. CGMU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD) 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.
| SLQD | CGMU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.59 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.15 | 2.49 | +1.66 |
| Martin ratioReturn relative to average drawdown | 18.78 | 7.97 | +10.80 |
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Drawdowns
SLQD vs. CGMU - Drawdown Comparison
The maximum SLQD drawdown since its inception was -12.69%, which is greater than CGMU's maximum drawdown of -4.11%. Use the drawdown chart below to compare losses from any high point for SLQD and CGMU.
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Drawdown Indicators
| SLQD | CGMU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.69% | -4.11% | -8.58% |
Max Drawdown (1Y)Largest decline over 1 year | -1.06% | -2.55% | +1.49% |
Max Drawdown (3Y)Largest decline over 3 years | -1.06% | -3.89% | +2.83% |
Max Drawdown (5Y)Largest decline over 5 years | -7.63% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -12.69% | — | — |
Current DrawdownCurrent decline from peak | -0.02% | -0.89% | +0.87% |
Average DrawdownAverage peak-to-trough decline | -0.87% | -0.84% | -0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 0.79% | -0.56% |
Volatility
SLQD vs. CGMU - Volatility Comparison
The current volatility for iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD) is 0.53%, while Capital Group Municipal Income ETF (CGMU) has a volatility of 0.81%. This indicates that SLQD experiences smaller price fluctuations and is considered to be less risky than CGMU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLQD | CGMU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 0.81% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 1.13% | 1.73% | -0.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.49% | 2.28% | -0.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.44% | 3.47% | -1.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.14% | 3.47% | -0.33% |
SLQD vs. CGMU - Expense Ratio Comparison
SLQD has a 0.06% expense ratio, which is lower than CGMU's 0.27% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SLQD vs. CGMU - Dividend Comparison
SLQD's dividend yield for the trailing twelve months is around 4.31%, more than CGMU's 3.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGMU Capital Group Municipal Income ETF | 3.33% | 3.32% | 3.21% | 3.08% | 0.49% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 4.31% | 4.15% | 3.71% | 2.99% | 2.00% | 1.67% | 2.34% | 2.89% | 2.55% | 1.98% | 1.81% | 1.43% |
Frequently Asked Questions
SLQD and CGMU have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CGMU has higher volatility (0.81%) compared to SLQD (0.53%). In terms of maximum drawdown, SLQD dropped -12.69% vs CGMU's -4.11%.
On 3-year performance, SLQD leads with 5.51% vs 4.63% for CGMU. On fees, SLQD is cheaper at 0.06% per year. On volatility, SLQD has been the lower-risk option at 0.53%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SLQD has performed better with a 5.51% return vs 4.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLQD is cheaper with a 0.06% expense ratio, compared with 0.27% for CGMU.
SLQD has the higher dividend yield at 4.31%, compared with 3.33% for CGMU.
SLQD is categorized as Corporate Bonds, while CGMU is Municipal Bonds. They also come from different issuers: iShares and Capital Group. Their fees differ too: 0.06% for SLQD and 0.27% for CGMU.
SLQD currently has the higher Sharpe Ratio (2.96 vs 2.78), 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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