ETF Evaluator:
Capital Group U.S. Small and Mid Cap ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Mid-Cap Blend Over the Last Year
| 58.8% | Castellan Targeted Equity ETF (CTEF) |
| 53.8% | Invesco S&P Spin-Off ETF (CSD) |
| 43.0% | Counterpoint Quantitative Equity ETF (CPAI) |
| 40.8% | Optimize Strategy Index ETF (OPTZ) |
| 37.3% | Tema U.S. Manufacturing & Reshoring ETF (WELD) |
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ETF Details
Capital Group U.S. Small and Mid Cap ETF Overview
Capital Group U.S. Small and Mid Cap ETF (CGMM) is an actively managed U.S. Equity Mid-Cap Blend exchange-traded fund (ETF). Capital Group launched the ETF in 2025.
The investment seeks capital appreciation.
Under normal market conditions, the fund invests at least 80% of its net assets in common stocks and other equity-type securities of small and mid-capitalization companies in the United States. The investment adviser currently defines “small and mid-capitalization companies” to be companies whose market capitalizations typically fall within the range of the Russell 2500 Index or the Russell Midcap Index. The fund is non-diversified.
About Capital Group U.S. Small and Mid Cap ETF (CGMM)
There are 4 members of the management team with an average tenure of 1.30 years: Matt Hochstetler (2025), Roz Hongsaranagon (2025), Andraz Razen (2025) and M Taylor Hinshaw (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
Capital Group U.S. Small and Mid Cap ETF has 118 securities in its portfolio. The top 10 holdings constitute 18.7% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Capital Group U.S. Small and Mid Cap ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Capital Group U.S. Small and Mid Cap ETF has 2.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 95.5% There is 2.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Capital Group U.S. Small and Mid Cap ETF has 2.2% of the portfolio in cash.
Assets Under Management
The fund has $3 billion in total assets, which is below the $4 billion average for the Mid-Cap Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
CGMM Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Capital Group U.S. Small and Mid Cap ETF expense ratio is average compared to funds in the Mid-Cap Blend category. Capital Group U.S. Small and Mid Cap ETF has an expense ratio of 0.51%, which is 13% higher than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Capital Group U.S. Small and Mid Cap ETF has a portfolio turnover rate of 42%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 84% for the Mid-Cap Blend category.
Recently, in the month of July 2026, Capital Group U.S. Small and Mid Cap ETF returned -3.1%, which earned it a grade of D, as the Mid-Cap Blend category had an average return of -1.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Capital Group U.S. Small and Mid Cap ETF has a trailing yield of 0.38%, which is below the 0.85% category average.
The fund normally distributes its income semi-annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Capital Group U.S. Small and Mid Cap ETF Grades
Year to date, the ETF has returned 10.9%, 3.1 percentage points worse than the category, which translates into a grade of D. The fund has returned 16.5% over the past year (grade of D).
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CGMM Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| CGMM Return (NAV) | -3.1% | 1.1% | 16.5% | na | na | na |
| CGMM Return (Price) | -3.2% | 1.1% | 16.4% | na | na | na |
| NAV +/- Price Return | 0.028% | -0.032% | 0.048% | na | na | na |
| Mid-Cap Blend Avg | -1.6% | 4.4% | 20.8% | 14.8% | 8.8% | 11.6% |
| CGMM Grade (NAV) | D | F | D | na | na | na |
| +/- Category (NAV) | -1.5% | -3.3% | -4.3% | na | na | na |
| CGMM Tax-Cost Ratio | na | na | 0.2% | na | na | na |
CGMM Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CGMM Return (NAV) | 10.9% | na | na | na | na | na | na | na | na | na | na |
| CGMM Return (Price) | 10.8% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.004% | na | na | na | na | na | na | na | na | na | na |
| Mid-Cap Blend Avg | 14.0% | 10.6% | 16.1% | 16.9% | -14.4% | 23.3% | 15.6% | 27.4% | -9.1% | 19.1% | 14.8% |
| CGMM Grade (NAV) | D | na | na | na | na | na | na | na | na | na | na |
| +/- Category | -3.1% | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 0.4% |
| Total Assets: | $ 3,155 Mil |
| Share Class Assets: | $ 3,155 Mil |
| Turnover: | 42.0% |
| Expense Ratio: | 0.51% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Semi-Annually |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 1.5 years | |||
| Average Tenure: 1.3 years | |||
| Managers (Year): Hochstetler Matt (2025), Hongsaranagon Roz (2025), Razen Andraz (2025), Hinshaw M Taylor (2026) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 118 |
| % in Top 10 Holdings: | 18.7% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 2.3% |
Portfolio Allocation |
|
| Domestic Stock: | 95.5% |
| Foreign Stock: | 2.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.2% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Capital Group |
| Phone Number: | 800-421-4225 |
| Website: | |
| Inception Date: | January 14, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.51% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.45% |
