ETF Evaluator:
Capital Group Short Dur Muncpl Inc ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Muni National Short Over the Last Year
| 5.4% | abrdn Ultra Short Municipal Inc Act ETF (AMUN) |
| 3.2% | Vanguard Short Duration Tax-Exm Bd ETF (VSDM) |
| 3.2% | Capital Group Short Dur Muncpl Inc ETF (CGSM) |
| 3.2% | NYLI MacKay Muni Short Duration ETF (MMSD) |
| 3.2% | PGIM Ultra Short Municipal Bond ETF (PUSH) |
Risk
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Risk
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ETF Details
Capital Group Short Dur Muncpl Inc ETF Overview
Capital Group Short Dur Muncpl Inc ETF (CGSM) is an actively managed Municipal Bond Muni National Short exchange-traded fund (ETF). Capital Group launched the ETF in 2023.
The investment seeks to provide current income exempt from regular federal income tax, consistent with a short duration profile as described in this prospectus and with the preservation of capital.
The fund will normally invest at least 80% of its assets in, or derive at least 80% of its income from, securities that are exempt from regular federal income tax. Such securities consist of municipal bonds, which are debt obligations that pay interest that is exempt from federal income taxation, with payments made from a wide variety of sources, including governmental revenue streams and private enterprises. The fund is non-diversified.
About Capital Group Short Dur Muncpl Inc ETF (CGSM)
There are 2 members of the management team with an average tenure of 2.85 years: Mark Marinella (2023) and Vikas Malhotra (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg Municipal TR USD index with a weighting of 100% and Bloomberg Municipal 1-5 Yr TR USD index with a weighting of 100%. Capital Group Short Dur Muncpl Inc ETF has 1017 securities in its portfolio. The top 10 holdings constitute 14.2% 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 Short Dur Muncpl Inc ETF is part of the Fixed Income global asset class and is within the Municipal Bond ETF group. Capital Group Short Dur Muncpl Inc ETF has 1.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 96.6% (95.5% domestic bond, 1.2% foreign bond and 0.0% convertible bond). Capital Group Short Dur Muncpl Inc ETF has 3.4% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is above the $1 billion average for the Muni National Short 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.
CGSM 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 Short Dur Muncpl Inc ETF expense ratio is below average compared to funds in the Muni National Short category. Capital Group Short Dur Muncpl Inc ETF has an expense ratio of 0.25%, which is 19% 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 Short Dur Muncpl Inc ETF has a portfolio turnover rate of 54%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 56% for the Muni National Short category.
Recently, in the month of July 2026, Capital Group Short Dur Muncpl Inc ETF returned -0.4%, which earned it a grade of D, as the Muni National Short category had an average return of -0.2%. 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 Short Dur Muncpl Inc ETF has a trailing yield of 2.94%, which is above the 2.91% 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 Short Dur Muncpl Inc ETF Grades
Year to date, the ETF has returned 1.1%, 0.0 percentage points worse than the category, which translates into a grade of C. The fund has returned 3.2% over the past year (grade of A).
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CGSM 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 |
|
| CGSM Return (NAV) | -0.4% | 0.2% | 3.2% | na | na | na |
| CGSM Return (Price) | -0.4% | 0.2% | 3.3% | na | na | na |
| NAV +/- Price Return | 0.018% | 0.000% | -0.035% | na | na | na |
| Muni National Short Avg | -0.2% | 0.4% | 2.8% | 3.2% | 1.7% | 1.5% |
| CGSM Grade (NAV) | D | D | A | na | na | na |
| +/- Category (NAV) | -0.2% | -0.2% | 0.5% | na | na | na |
| CGSM Tax-Cost Ratio | na | na | 0.0% | na | na | na |
CGSM Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CGSM Return (NAV) | 1.1% | 4.7% | 3.8% | na | na | na | na | na | na | na | na |
| CGSM Return (Price) | 1.1% | 4.6% | 3.7% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.034% | -0.019% | -0.018% | na | na | na | na | na | na | na | na |
| Muni National Short Avg | 1.1% | 3.8% | 2.7% | 3.8% | -2.1% | 0.4% | 2.1% | 3.0% | 1.3% | 1.5% | -0.1% |
| CGSM Grade (NAV) | C | A | A | na | na | na | na | na | na | na | na |
| +/- Category | -0.0% | 0.8% | 1.1% | 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: | 2.9% |
| Total Assets: | $ 1,557 Mil |
| Share Class Assets: | $ 1,557 Mil |
| Turnover: | 54.0% |
| Expense Ratio: | 0.25% |
| Index Fund: | No |
| Index Tracked: | Bloomberg Municipal 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: 2 | |||
| Longest Tenure: 2.9 years | |||
| Average Tenure: 2.9 years | |||
| Managers (Year): Marinella Mark (2023), Malhotra Vikas (2023) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 1017 |
| % in Top 10 Holdings: | 14.2% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 1.2% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 95.5% |
| Foreign Bond: | 1.2% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 3.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Capital Group |
| Phone Number: | 800-421-4225 |
| Website: | capitalgroup.com/etf |
| Inception Date: | September 26, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.25% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.21% |
