TAGS vs. CGMU
TAGS (Teucrium Agricultural Fund) and CGMU (Capital Group Municipal Income ETF) are both exchange-traded funds - TAGS is a Agricultural Commodities fund tracking the Teucrium TAGS Index, while CGMU is a Municipal Bonds fund actively managed by Capital Group. TAGS is passively managed, while CGMU is actively managed. Over the past 3 years, TAGS returned -7.03%/yr vs 4.58%/yr for CGMU. At a correlation of -0.04, they often move in opposite directions. TAGS charges 0.21%/yr vs 0.27%/yr for CGMU.
Performance
TAGS vs. CGMU - Performance Comparison
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Returns By Period
In the year-to-date period, TAGS achieves a 8.31% return, which is significantly higher than CGMU's 1.71% return.
TAGS
- 1D
- 0.83%
- 1M
- 5.12%
- 6M
- 7.50%
- YTD
- 8.31%
- 1Y
- 3.33%
- 3Y*
- -7.03%
- 5Y*
- 0.33%
- 10Y*
- -1.04%
CGMU
- 1D
- 0.07%
- 1M
- 0.32%
- 6M
- 1.12%
- YTD
- 1.71%
- 1Y
- 6.05%
- 3Y*
- 4.58%
- 5Y*
- —
- 10Y*
- —
TAGS vs. CGMU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TAGS Teucrium Agricultural Fund | 8.31% | -8.76% | -14.57% | -6.11% | 1.75% |
CGMU Capital Group Municipal Income ETF | 1.71% | 5.19% | 2.64% | 6.76% | 4.65% |
Correlation
The correlation between TAGS and CGMU is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2022 | -0.04 |
The correlation between TAGS and CGMU shifts across timeframes, from -0.22 (1 year) to -0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TAGS vs. CGMU — Risk / Return Rank
TAGS
CGMU
TAGS vs. CGMU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Teucrium Agricultural Fund (TAGS) 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.
| TAGS | CGMU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.33 | ||
| Sortino ratioReturn per unit of downside risk | -3.18 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.54 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | 0.33 | 2.32 | -1.99 |
| Martin ratioReturn relative to average drawdown | 0.67 | 7.33 | -6.67 |
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Drawdowns
TAGS vs. CGMU - Drawdown Comparison
The maximum TAGS drawdown since its inception was -76.40%, which is greater than CGMU's maximum drawdown of -4.11%. Use the drawdown chart below to compare losses from any high point for TAGS and CGMU.
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Drawdown Indicators
| TAGS | CGMU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.40% | -4.11% | -72.29% |
Max Drawdown (1Y)Largest decline over 1 year | -9.65% | -2.55% | -7.10% |
Max Drawdown (3Y)Largest decline over 3 years | -32.73% | -3.89% | -28.84% |
Max Drawdown (5Y)Largest decline over 5 years | -37.60% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -43.84% | — | — |
Current DrawdownCurrent decline from peak | -62.94% | -0.58% | -62.36% |
Average DrawdownAverage peak-to-trough decline | -57.26% | -0.83% | -56.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.72% | 0.81% | +3.91% |
Volatility
TAGS vs. CGMU - Volatility Comparison
Teucrium Agricultural Fund (TAGS) has a higher volatility of 4.37% compared to Capital Group Municipal Income ETF (CGMU) at 0.55%. This indicates that TAGS'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
| TAGS | CGMU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.37% | 0.55% | +3.82% |
Volatility (6M)Calculated over the trailing 6-month period | 10.67% | 1.76% | +8.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.72% | 2.30% | +10.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.11% | 3.44% | +12.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.00% | 3.44% | +14.56% |
TAGS vs. CGMU - Expense Ratio Comparison
TAGS has a 0.21% 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
TAGS vs. CGMU - Dividend Comparison
TAGS has not paid dividends to shareholders, while CGMU's dividend yield for the trailing twelve months is around 3.34%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CGMU Capital Group Municipal Income ETF | 3.34% | 3.32% | 3.21% | 3.08% | 0.49% |
TAGS Teucrium Agricultural Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TAGS and CGMU have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TAGS has higher volatility (4.37%) compared to CGMU (0.55%). In terms of maximum drawdown, TAGS dropped -76.40% vs CGMU's -4.11%.
On 3-year performance, CGMU leads with 4.58% vs -7.03% for TAGS. On fees, TAGS is cheaper at 0.21% per year. On volatility, CGMU has been the lower-risk option at 0.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CGMU has performed better with a 4.58% return vs -7.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TAGS is cheaper with a 0.21% expense ratio, compared with 0.27% for CGMU.
CGMU has the higher dividend yield at 3.34%, compared with 0.00% for TAGS.
TAGS is categorized as Agricultural Commodities, while CGMU is Municipal Bonds. They also come from different issuers: Teucrium and Capital Group. Their fees differ too: 0.21% for TAGS and 0.27% for CGMU.
CGMU currently has the higher Sharpe Ratio (2.57 vs 0.25), 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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