Investments / CGSM Capital Group Short Duration Municipal Income ETF
Tax-Exempt Bond Funds

CGSM

Capital Group Short Duration Municipal Income ETF
Investments / CGSM Capital Group Short Duration Municipal Income ETF
Tax-Exempt Bond Funds

CGSM

Capital Group Short Duration Municipal Income ETF

Summary

Pursues income exempt from regular federal income tax with low interest rate sensitivity. A short duration fund that employs a flexible, research-driven approach to identify attractive income opportunities that are exempt from regular federal income tax across a variety of municipal sectors.

  • Price at NAV $25.89 as of 07/15/2024 (updated daily)
  • Price at Market Price $25.97 as of 07/16/2024 (updated daily)
  • Fund Assets (millions) $215.9 as of 07/15/2024 (updated daily)
  • portMgrName
    Portfolio Managers1 2
  • expRatio
    Expense Ratio2 0.25%

NAVCumul1Yr,NAVAvg5yr,NAVAvgLifetime/TRMPR_1YTD,ARRMPR_5YTD,ARRMPR_LTD
Returns at (NAV4 
NAV
/Market Price4, 5 
NF_FDD_marketPrice
)%

Read important investment disclosures

  • --/--
    1-year return
  • --/--
    5-year return
  • 5.46/5.62
    Lifetime return
  • 3.45%
    30-Day SEC Yield
Returns as of 06/30/2024 (updated monthly). Yield as of 06/30/2024 (updated monthly).
assetMix

Asset Mix

U.S. Equities
0.0%
Non-U.S. Equities
0.0%
U.S. Bonds
93.8%
Non-U.S. Bonds
0.0%
assetMixCE
Cash & Equivalents 6
6.2%
As of 06/30/2024 (updated monthly)

Fund Statistics

2.3 years
Effective Duration
BS_ED
BS_ED
3.3%
Average Yield to Worst
BS_YTW
BS_YTW
4.3%
Average Coupon
AVGCOUP
avgCoupon
% of net assets as of 07/15/2024 (updated daily).
morningstarFIStyle

Morningstar Style Box™ — Fixed-Income7

No Chart Available.

Description

Fund Objective
The fund's investment objective is to provide current income exempt from regular federal income tax, consistent with a short duration profile as described in the prospectus and with the preservation of capital.
DC_SB
Distinguishing Characteristics
Invests in generally high-quality, short-term municipal bonds to provide income that is exempt from regular federal income tax while preserving capital. The strategy is designed to generate a slightly higher yield than tax-exempt money market funds. It seeks to provide a high degree of stability with limited exposure to interest rate volatility.
Types of Investments
The fund will invest at least 80% of its assets in bonds and other debt instruments, including 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.
Maturity
The fund will maintain an average portfolio duration that is within 1 year of the average duration of the Bloomberg Municipal Short 1-5 Years Index.
Portfolio Restrictions
The fund will normally invest at least 80% of its assets in, or derive at least 80% of its income from, securities exempt from regular federal income tax. May invest up to 20% of its assets in bonds that fund private, for-profit organizations (also known as private activity bonds) whose interest is subject to the federal alternative minimum tax.

Fund Facts

Fund Inception
09/26/2023
Fund Assets (millions)
$215.9
As of 07/15/2024 (updated daily).
Exchange
NYSE Arca, Inc.
Companies/Issuers
108
Holdings are as of 06/30/2024 (updated monthly).
mthDividendsPaid
Regular Dividends Paid 8
Monthly
NAV Price
$25.89
As of 07/15/2024 (updated daily).
Market Price
$25.97
As of 07/16/2024 (updated daily).
Portfolio Turnover (2023)
37%
Fiscal Year-End
December
Prospectus Date
03/01/2024
CUSIP
14020Y 60 7
NF_ETFLogic_premium,NF_ETFLogic_discount
Premium/Discount
NF_ETFLogic_premDiscountRatio
0.17%
As of 07/15/2024 (updated daily).
NF_ETFLogic_medianBid
30 Day Median Bid/Ask Spread
NF_ETFLogic_medianBid
0.04%
As of 07/15/2024 (updated daily).

PREMIUM/DISCOUNT DETAILS

Returns3, 4, 5

NAVYTDDaily,TRMPR_YTD,NAVCumul1Yr,TRMPR_1YTD,NAVAvg5yr,ARRMPR_5YTD,NAVAvgLifetime,ARRMPR_LTD
  • Month-End Returns as of 06/30/2024
  • Quarter-End Returns as of 06/30/2024
  • NAV
    Market Price
    Bloomberg Municipal Short 1-5 Years Index
    76013

    Fund inception: 09/26/2023

    The fund's returns for 1 year, 3 years, 5 years and 10 years will be available after the fund's lifetime reaches those durations, respectively.
    NAVYTDDaily,TRMPR_YTD,NAVCumul1Yr,TRMPR_1YTD,NAVAvg5yr,ARRMPR_5YTD,NAVAvgLifetime,ARRMPR_LTD
  • Month-End Returns as of 06/30/2024
  • Quarter-End Returns as of 06/30/2024
  • NAV
    Market Price
    Bloomberg Municipal Short 1-5 Years Index
    76013

    Fund inception: 09/26/2023

    The fund's returns for 1 year, 3 years, 5 years and 10 years will be available after the fund's lifetime reaches those durations, respectively.
    Growth of 10K
    NAVAvgLifetime
    4
    High & Low Prices

    Read important investment disclosures

    This chart tracks a hypothetical investment at NAV over the last 20 years, or, since inception date if the fund has been in existence under 20 years, through 06/30/2024.
    View Larger Chart
    CGSM
    Bloomberg Municipal Short 1-5 Years Index
    76013

    Yield

    distRate12M
    12-month Distribution Rates 9
    NAV
    30-day SEC Yield
    Fund at NAV
    --%3.45%
    As of 06/30/2024 (updated monthly).

    portMgrName
    Portfolio Management1

    • Years of Experience with Fund
    • Years of Experience with Capital Group
    • Years of Experience with Investment Industry
    Vikas Malhotra
    1
    7
    12
    Mark Marinella
    1
    11
    37

    A boldface number indicates that years of experience with Capital Group is equal to years of experience with investment industry.

    Portfolio managers as of the most recent prospectus. Portfolio managers' years of experience are as of the previous calendar year end.

    Ratings & Risk

    morningstarRating

    Morningstar Rating10

    No data is available at this time.

    qualitySummary
    Quality Summary

    Read important investment disclosures

    AAA/Aaa
    17.4%
    AA/Aa
    28.9%
    A
    21.8%
    BBB/Baa
    10.7%
    BB/Ba
    2.6%
    Unrated
    13.5%
    fixedIncomeCash
    Cash & equivalents 6
    5.1%
    % of net assets as of 06/30/2024 (updated monthly)

    Average Life Breakdown

    0-4.9 Years
    81.4%
    5-9.9 Years
    11.1%
    10-19.9 Years
    1.3%
    % of net assets as of 06/30/2024 (updated monthly)

    Holdings

    Bonds Breakdown

    Bond Details

    Total Bond Holdings

    Revenue bonds
    89.6%
    Cash & equivalents
    6.2%
    General obligation bonds
    4.2%
    % of net assets as of 06/30/2024 (updated monthly)

    Geographic Breakdown

     
    No data is available at this time.

    Prices & Distributions

    Historical Prices at NAV Month-End
    Historical Prices at NAV Year-End
    No Chart Available.
    Historical Distributions
    as of 07/16/2024
    2018
    Record Date
    Calculated Date
    Pay Date
    Income
    Dividend
    Regular
    NON_DAILY_DIV
    Income
    Dividend
    Special
    NON_DAILY_SP_DIV
    Cap. Gains Long-Term
    CAP_GAIN_PAID
    Cap. Gains Short-Term
    ST_CAP_GAIN_PAID
    02/01/202401/31/202402/02/2024$0.0561$0.00$0.00$0.00
    03/01/202402/29/202403/04/2024$0.0650$0.00$0.00$0.00
    03/28/202403/27/202404/01/2024$0.0756$0.00$0.00$0.00
    05/01/202404/30/202405/02/2024$0.0813$0.00$0.00$0.00
    05/31/202405/31/202406/03/2024$0.0819$0.00$0.00$0.00
    06/27/202406/27/202406/28/2024$0.0672$0.00$0.00$0.00
    2018 Year-to-Date:Dividends Subtotal: $0.427Cap Gains Subtotal: $0.000
    Total Distributions: $0.427

    Expenses

    expRatio
    Expense Ratio2

    CGSM
    0.25%
    --
    --
    Fund as of most recent prospectus. Morningstar Category as of - (updated -).

    Figures shown are past results and are not predictive of results in future periods. Current and future results may be lower or higher than those shown. Investing for short periods makes losses more likely. Prices and returns will vary, so investors may lose money. View ETF expense ratios and returns. View current ETF SEC yields.
    Market price returns are determined using the official closing price of the fund's shares and do not represent the returns you would receive if you traded shares at other times.
    Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
    Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.
    Capital Group exchange-traded funds (ETFs) are actively managed and do not seek to replicate a specific index. ETF shares are bought and sold through an exchange at the then current market price, not net asset value (NAV), and are not individually redeemed from the fund. Shares may trade at a premium or discount to their NAV when traded on an exchange. Brokerage commissions will reduce returns. There can be no guarantee that an active market for ETFs will develop or be maintained, or that the ETF's listing will continue or remain unchanged.
    Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard & Poor's, Moody's and/or Fitch, as an indication of an issuer's creditworthiness. For most funds, unless otherwise noted below, if agency ratings differ, a security will be considered to have received the highest of those ratings, consistent with applicable investment policies. Securities in the Unrated category have not been rated by a rating agency; however, the investment adviser performs its own credit analysis and assigns comparable ratings that are used for compliance with applicable investment policies.
    Lower rated bonds are subject to greater fluctuations in value and risk of loss of income and principal than higher rated bonds.
    The return of principal for bond funds and for funds with significant underlying bond holdings is not guaranteed. Fund shares are subject to the same interest rate, inflation and credit risks associated with the underlying bond holdings.
    Income from municipal bonds may be subject to state or local income taxes and/or the federal alternative minimum tax. Certain other income, as well as capital gain distributions, may be taxable. 
    As nondiversified funds, Capital Group ETFs have the ability to invest a larger percentage of assets in securities of individual issuers than a diversified fund. As a result, a single issuer could adversely affect a fund's results more than if the fund invested a smaller percentage of assets in securities of that issuer. Refer to the applicable prospectus for details.
    There have been periods when the results lagged the index(es) and/or average(s). The indexes are unmanaged and, therefore, have no expenses. Investors cannot invest directly in an index.
    Source: Bloomberg Index Services Limited. BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively "Bloomberg"). Bloomberg or Bloomberg's licensors own all proprietary rights in the Bloomberg Indices. Neither Bloomberg nor Bloomberg's licensors approves or endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.
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    Portfolios are managed, so holdings will change. Certain fixed income and/or cash and equivalents holdings may be held through mutual funds managed by the investment adviser or its affiliates that are not offered to the public.
    Totals may not reconcile due to rounding.
    Investment results assume all distributions are reinvested and reflect applicable fees and expenses.
    1
    Reflects current team at the time of publication.
    2
    Expense ratios are as of each fund's prospectus available at the time of publication. The expense ratio for the Capital Group Short Duration Municipal Income ETF is estimated.
    3
    YTD (year-to-date return): For the period from January 1 of the current year to the date shown or from inception date if first offered after January 1 of the current year.
    4
    When applicable, returns for less than one year are not annualized, but calculated as cumulative total returns.
    5
    ETF market price returns since inception are calculated using NAV for the period until market price became available (generally a few days after inception).        
    6
    Includes cash, short-term securities, other assets less liabilities, accruals, derivatives and forwards. It may also include investments in money market or similar funds managed by the investment adviser or its affiliates that are not offered to the public.
    7
    Read more information about Morningstar Style Box methodology. The model for the fixed-income style box is based on the two pillars of fixed-income performance: interest-rate sensitivity and credit quality. The three interest sensitivity groups are limited, moderate and extensive and the three credit quality groups are high, medium and low. These groupings display a portfolio's effective duration and third party credit ratings to provide an overall representation of the fund's risk orientation given the sensitivity to interest rate and credit rating of bonds in the portfolio.
    8
    The months indicated for dividends and capital gains paid represent the anticipated current year ex-dividend date schedule.
    9
    The SEC yield reflects the rate at which the fund is earning income on its current portfolio of securities while the distribution rate reflects the fund's past dividends paid to shareholders. Accordingly, the fund's SEC yield and distribution rate may differ.
    10
    The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Past results are not a guarantee of results in future periods. The Morningstar Ratings are based on the share classes of each underlying fund held by the series; other underlying fund share classes may have different performance characteristics.
    11
    The information shown does not include cash and cash equivalents. This includes shares of money market or similar funds managed by the investment adviser or its affiliates that are not offered to the public.
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