USD=X vs. CGMU

Last updated Jun 13, 2026

USD=X (USD Cash) is a currency, while CGMU (Capital Group Municipal Income ETF) is Municipal Bonds fund actively managed by Capital Group. Over the past 3 years, USD=X returned 0.00%/yr vs 4.63%/yr for CGMU.

Performance

USD=X vs. CGMU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USD Cash (USD=X) and Capital Group Municipal Income ETF (CGMU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

USD=X

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 0.00%
• 3Y*: 0.00%
• 5Y*: 0.00%
• 10Y*: 0.00%

CGMU

• 1D: -0.07%
• 1M: 0.56%
• YTD: 1.39%
• 6M: 1.82%
• 1Y: 6.32%
• 3Y*: 4.63%
• 5Y*: —
• 10Y*: —

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

USD=X vs. CGMU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
USD=X USD Cash	0.00%	0.00%	0.00%	0.00%	0.00%
CGMU Capital Group Municipal Income ETF	1.39%	5.19%	2.64%	6.76%	4.65%

Return for Risk

USD=X vs. CGMU — Risk / Return Rank

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

USD=X

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

CGMU

CGMU Risk / Return Rank: 77
CGMU Sharpe Ratio Rank: 91
CGMU Sortino Ratio Rank: 92
CGMU Omega Ratio Rank: 94
CGMU Calmar Ratio Rank: 56
CGMU Martin Ratio Rank: 53

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.

USD=X vs. CGMU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USD Cash (USD=X) 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.

	USD=X	CGMU	Difference
Sharpe ratio: Return per unit of total volatility	—	2.78	—
Sortino ratio: Return per unit of downside risk	—	3.96	—
Omega ratio: Gain probability vs. loss probability	—	1.59	—
Calmar ratio: Return relative to maximum drawdown	—	2.49	—
Martin ratio: Return relative to average drawdown	—	7.97	—

Drawdowns

USD=X vs. CGMU - Drawdown Comparison

The maximum USD=X drawdown since its inception was 0.00%, smaller than the maximum CGMU drawdown of -4.11%. Use the drawdown chart below to compare losses from any high point for USD=X and CGMU.

Drawdown Indicators

	USD=X	CGMU	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-4.11%	+4.11%
Max Drawdown (1Y) Largest decline over 1 year	0.00%	-2.55%	+2.55%
Max Drawdown (3Y) Largest decline over 3 years	0.00%	-3.89%	+3.89%
Max Drawdown (5Y) Largest decline over 5 years	0.00%	—	—
Max Drawdown (10Y) Largest decline over 10 years	0.00%	—	—
Current Drawdown Current decline from peak	0.00%	-0.89%	+0.89%
Average Drawdown Average peak-to-trough decline	0.00%	-0.84%	+0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	0.79%	-0.79%

Volatility

USD=X vs. CGMU - Volatility Comparison

The current volatility for USD Cash (USD=X) is 0.00%, while Capital Group Municipal Income ETF (CGMU) has a volatility of 0.81%. This indicates that USD=X 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.

Volatility by Period

	USD=X	CGMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	0.81%	-0.81%
Volatility (6M) Calculated over the trailing 6-month period	0.00%	1.73%	-1.73%
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	2.28%	-2.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	3.47%	-3.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	3.47%	-3.47%

Frequently Asked Questions

Which is riskier, USD=X or CGMU?

CGMU has higher volatility (0.81%) compared to USD=X (0.00%). In terms of maximum drawdown, USD=X dropped 0.00% vs CGMU's -4.11%.