SPMB vs. CGMU
Compare and contrast key facts about SPDR Portfolio Mortgage Backed Bond ETF (SPMB) and Capital Group Municipal Income ETF (CGMU).
SPMB and CGMU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPMB is a passively managed fund by State Street that tracks the performance of the Bloomberg US Aggregate Securitized - MBS. It was launched on Jan 15, 2009. CGMU is an actively managed fund by Capital Group. It was launched on Oct 25, 2022.
Performance
SPMB vs. CGMU - Performance Comparison
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SPMB vs. CGMU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPMB SPDR Portfolio Mortgage Backed Bond ETF | 0.56% | 8.29% | 1.35% | 5.09% | 2.75% |
CGMU Capital Group Municipal Income ETF | 0.16% | 5.19% | 2.64% | 6.76% | 4.53% |
Returns By Period
In the year-to-date period, SPMB achieves a 0.56% return, which is significantly higher than CGMU's 0.16% return.
SPMB
- 1D
- 0.05%
- 1M
- -1.19%
- YTD
- 0.56%
- 6M
- 1.75%
- 1Y
- 5.26%
- 3Y*
- 4.12%
- 5Y*
- 0.37%
- 10Y*
- 1.29%
CGMU
- 1D
- 0.18%
- 1M
- -1.92%
- YTD
- 0.16%
- 6M
- 1.65%
- 1Y
- 4.63%
- 3Y*
- 4.00%
- 5Y*
- —
- 10Y*
- —
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SPMB vs. CGMU - Expense Ratio Comparison
SPMB has a 0.04% 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%.
Return for Risk
SPMB vs. CGMU — Risk / Return Rank
SPMB
CGMU
SPMB vs. CGMU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Mortgage Backed Bond ETF (SPMB) 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.
| SPMB | CGMU | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.09 | 1.43 | -0.34 |
Sortino ratioReturn per unit of downside risk | 1.56 | 1.83 | -0.27 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.32 | -0.12 |
Calmar ratioReturn relative to maximum drawdown | 1.97 | 1.72 | +0.25 |
Martin ratioReturn relative to average drawdown | 5.64 | 5.71 | -0.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPMB | CGMU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 1.43 | -0.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.06 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 1.61 | -1.27 |
Correlation
The correlation between SPMB and CGMU is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SPMB vs. CGMU - Dividend Comparison
SPMB's dividend yield for the trailing twelve months is around 4.04%, more than CGMU's 3.37% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPMB SPDR Portfolio Mortgage Backed Bond ETF | 4.04% | 3.98% | 3.76% | 3.21% | 2.98% | 2.59% | 2.95% | 3.24% | 3.36% | 3.13% | 2.99% | 3.05% |
CGMU Capital Group Municipal Income ETF | 3.37% | 3.32% | 3.21% | 3.08% | 0.49% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SPMB vs. CGMU - Drawdown Comparison
The maximum SPMB drawdown since its inception was -18.03%, which is greater than CGMU's maximum drawdown of -4.11%. Use the drawdown chart below to compare losses from any high point for SPMB and CGMU.
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Drawdown Indicators
| SPMB | CGMU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.03% | -4.11% | -13.92% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -2.86% | -0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -17.49% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -18.03% | — | — |
Current DrawdownCurrent decline from peak | -1.54% | -2.09% | +0.55% |
Average DrawdownAverage peak-to-trough decline | -2.86% | -0.82% | -2.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 0.86% | +0.16% |
Volatility
SPMB vs. CGMU - Volatility Comparison
SPDR Portfolio Mortgage Backed Bond ETF (SPMB) has a higher volatility of 1.83% compared to Capital Group Municipal Income ETF (CGMU) at 1.08%. This indicates that SPMB's price experiences larger fluctuations and is considered to be riskier 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
| SPMB | CGMU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.83% | 1.08% | +0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 1.65% | +1.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.88% | 3.27% | +1.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.73% | 3.52% | +3.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.59% | 3.52% | +4.07% |