TILL vs. CGMU
TILL (Teucrium Agricultural Strategy No K-1 ETF) and CGMU (Capital Group Municipal Income ETF) are both exchange-traded funds - TILL is a Commodities fund actively managed by Teucrium, while CGMU is a Municipal Bonds fund actively managed by Capital Group. Both are actively managed. Over the past 3 years, TILL returned -6.12%/yr vs 4.56%/yr for CGMU. At a correlation of -0.03, they often move in opposite directions. TILL charges 0.89%/yr vs 0.27%/yr for CGMU.
Performance
TILL vs. CGMU - Performance Comparison
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Returns By Period
In the year-to-date period, TILL achieves a 4.32% return, which is significantly higher than CGMU's 1.39% return.
TILL
- 1D
- -0.74%
- 1M
- -5.23%
- YTD
- 4.32%
- 6M
- 2.79%
- 1Y
- -2.51%
- 3Y*
- -6.12%
- 5Y*
- —
- 10Y*
- —
CGMU
- 1D
- -0.18%
- 1M
- 0.30%
- YTD
- 1.39%
- 6M
- 1.71%
- 1Y
- 6.52%
- 3Y*
- 4.56%
- 5Y*
- —
- 10Y*
- —
TILL vs. CGMU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TILL Teucrium Agricultural Strategy No K-1 ETF | 4.32% | -5.97% | -13.98% | -5.00% | 1.65% |
CGMU Capital Group Municipal Income ETF | 1.39% | 5.19% | 2.64% | 6.76% | 4.53% |
Correlation
The correlation between TILL and CGMU is -0.23, 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 | -0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2022 | -0.03 |
The correlation between TILL and CGMU shifts across timeframes, from -0.23 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TILL vs. CGMU — Risk / Return Rank
TILL
CGMU
TILL vs. CGMU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Teucrium Agricultural Strategy No K-1 ETF (TILL) 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.
| TILL | CGMU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.04 | ||
| Sortino ratioReturn per unit of downside risk | -4.23 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.61 | -0.63 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | 2.57 | -2.85 |
| Martin ratioReturn relative to average drawdown | -0.46 | 8.32 | -8.78 |
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
| TILL | CGMU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.20 | 2.84 | -3.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.57 | 1.65 | -2.23 |
Drawdowns
TILL vs. CGMU - Drawdown Comparison
The maximum TILL drawdown since its inception was -33.76%, which is greater than CGMU's maximum drawdown of -4.11%. Use the drawdown chart below to compare losses from any high point for TILL and CGMU.
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Drawdown Indicators
| TILL | CGMU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.76% | -4.11% | -29.65% |
Max Drawdown (1Y)Largest decline over 1 year | -8.98% | -2.55% | -6.43% |
Max Drawdown (3Y)Largest decline over 3 years | -30.40% | -3.89% | -26.51% |
Current DrawdownCurrent decline from peak | -29.99% | -0.89% | -29.10% |
Average DrawdownAverage peak-to-trough decline | -21.41% | -0.84% | -20.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.43% | 0.79% | +4.64% |
Volatility
TILL vs. CGMU - Volatility Comparison
Teucrium Agricultural Strategy No K-1 ETF (TILL) has a higher volatility of 5.15% compared to Capital Group Municipal Income ETF (CGMU) at 0.82%. This indicates that TILL'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
| TILL | CGMU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.15% | 0.82% | +4.33% |
Volatility (6M)Calculated over the trailing 6-month period | 10.26% | 1.74% | +8.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.70% | 2.31% | +10.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.73% | 3.47% | +11.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.73% | 3.47% | +11.26% |
TILL vs. CGMU - Expense Ratio Comparison
TILL has a 0.89% expense ratio, which is higher than CGMU's 0.27% expense ratio.
Dividends
TILL vs. CGMU - Dividend Comparison
TILL's dividend yield for the trailing twelve months is around 4.76%, more than CGMU's 3.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CGMU Capital Group Municipal Income ETF | 3.33% | 3.32% | 3.21% | 3.08% | 0.49% |
TILL Teucrium Agricultural Strategy No K-1 ETF | 4.76% | 4.97% | 2.55% | 51.24% | 0.73% |
Frequently Asked Questions
TILL and CGMU have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TILL has higher volatility (5.15%) compared to CGMU (0.82%). In terms of maximum drawdown, TILL dropped -33.76% vs CGMU's -4.11%.
On 3-year performance, CGMU leads with 4.56% vs -6.12% for TILL. On fees, CGMU is cheaper at 0.27% per year. On volatility, CGMU has been the lower-risk option at 0.82%. 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 4.56% return vs -6.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CGMU is cheaper with a 0.27% expense ratio, compared with 0.89% for TILL.
TILL has the higher dividend yield at 4.76%, compared with 3.33% for CGMU.
TILL is categorized as Commodities, while CGMU is Municipal Bonds. They also come from different issuers: Teucrium and Capital Group. Their fees differ too: 0.89% for TILL and 0.27% for CGMU.
CGMU currently has the higher Sharpe Ratio (2.84 vs -0.20), 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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