ETF Evaluator:
Capital Group U.S. Multi-Sector Inc ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Multisector Bond Over the Last Year
| 7.3% | Eaton Vance Income Opportunities ETF (XAGG) |
| 7.1% | Bluemonte Diversified Income ETF (BLUI) |
| 7.0% | Rareview Dynamic Fixed Income ETF (RDFI) |
| 6.3% | FolioBeyond Enhanced Fixed Inc Prm ETF (FIXP) |
| 5.6% | Neuberger Flexible Credit Income ETF (NBFC) |
Risk
Index
Risk
Index
ETF Details
Capital Group U.S. Multi-Sector Inc ETF Overview
Capital Group U.S. Multi-Sector Inc ETF (CGMS) is an actively managed Taxable Bond Multisector Bond exchange-traded fund (ETF). Capital Group launched the ETF in 2022.
The investment seeks to provide a high level of current income; its secondary investment objective is capital appreciation.
The fund normally invests at least 80% of its assets in the securities of issuers domiciled within the United States. The fund invests primarily in bonds and other debt instruments, which may be represented by derivatives. In seeking to achieve a high level of current income, the fund invests in a broad range of debt securities across the credit spectrum. The fund may invest in debt securities of any maturity or duration. The fund is non-diversified.
About Capital Group U.S. Multi-Sector Inc ETF (CGMS)
There are 5 members of the management team with an average tenure of 3.13 years: Shannon Ward (2022), Damien McCann (2022), Scott Sykes (2022), Xavier Goss (2022) and Sandro Lazzarini (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. Capital Group U.S. Multi-Sector Inc ETF has 1532 securities in its portfolio. The top 10 holdings constitute 22.2% 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. Multi-Sector Inc ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. Capital Group U.S. Multi-Sector Inc ETF has 11.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.1% There is 0.0% allocated to foreign stock, and 0.3% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 97.5% (85.9% domestic bond, 11.6% foreign bond and 0.1% convertible bond). Capital Group U.S. Multi-Sector Inc ETF has 2.1% of the portfolio in cash.
Assets Under Management
The fund has $5 billion in total assets, which is above the $1 billion average for the Multisector Bond 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.
CGMS 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. Multi-Sector Inc ETF expense ratio is below average compared to funds in the Multisector Bond category. Capital Group U.S. Multi-Sector Inc ETF has an expense ratio of 0.39%, which is 40% lower than its category average, making the fund expense ratio grade a A. 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. Multi-Sector Inc ETF has a portfolio turnover rate of 40%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 163% for the Multisector Bond category.
Recently, in the month of July 2026, Capital Group U.S. Multi-Sector Inc ETF returned -0.7%, which earned it a grade of D, as the Multisector Bond category had an average return of -0.5%. 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. Multi-Sector Inc ETF has a trailing yield of 6.11%, which is above the 5.63% category average.
The fund normally distributes its income monthly 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. Multi-Sector Inc ETF Grades
Year to date, the ETF has returned 1.0%, 0.3 percentage points worse than the category, which translates into a grade of C. The fund has returned 4.3% over the past year (grade of C) and 7.3% over the past three years (grade of A).
For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Capital Group U.S. Multi-Sector Inc ETF, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
CGMS 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 |
|
| CGMS Return (NAV) | -0.7% | 0.1% | 4.3% | 7.3% | na | na |
| CGMS Return (Price) | -0.6% | 0.0% | 4.4% | 7.3% | na | na |
| NAV +/- Price Return | -0.073% | 0.036% | -0.076% | 0.042% | na | na |
| Multisector Bond Avg | -0.5% | 0.3% | 4.5% | 6.2% | 1.8% | 3.1% |
| CGMS Grade (NAV) | D | D | C | A | na | na |
| +/- Category (NAV) | -0.2% | -0.2% | -0.2% | 1.1% | na | na |
| CGMS Tax-Cost Ratio | na | na | 2.4% | 2.4% | na | na |
CGMS Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CGMS Return (NAV) | 1.0% | 7.9% | 7.3% | 11.4% | na | na | na | na | na | na | na |
| CGMS Return (Price) | 1.1% | 7.5% | 7.2% | 11.5% | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.112% | -0.046% | -0.007% | 0.009% | na | na | na | na | na | na | na |
| Multisector Bond Avg | 1.3% | 7.6% | 5.5% | 8.2% | -10.8% | 3.0% | 4.7% | 10.6% | -1.8% | 5.9% | 7.4% |
| CGMS Grade (NAV) | C | C | A | A | na | na | na | na | na | na | na |
| +/- Category | -0.3% | 0.2% | 1.8% | 3.1% | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.73 |
| R-Squared: | 81% |
| Standard Deviation: | 4.6% |
| Category Risk Index: | 0.96 |
| Category Risk Rating: | Average |
| Total Risk Index: | 0.37 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 6.1% |
| Total Assets: | $ 5,343 Mil |
| Share Class Assets: | $ 5,343 Mil |
| Turnover: | 40.0% |
| Expense Ratio: | 0.39% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Agg Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 3.8 years | |||
| Average Tenure: 3.1 years | |||
| Managers (Year): Ward Shannon (2022), McCann Damien (2022), Sykes Scott (2022), Goss Xavier (2022), Lazzarini Sandro (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 1532 |
| % in Top 10 Holdings: | 22.2% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 11.6% |
Portfolio Allocation |
|
| Domestic Stock: | 0.1% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.3% |
| Domestic Bond: | 85.9% |
| Foreign Bond: | 11.6% |
| Convertible Bond: | 0.1% |
| Other: | 0.0% |
| Cash: | 2.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Capital Group |
| Phone Number: | 800-421-4225 |
| Website: | capitalgroup.com/etf |
| Inception Date: | October 25, 2022 |
Expenses and Fees
| Expense Ratio (%): | 0.39% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.65% |
