Fixed Income

CGSM (Capital Group Short Duration Municipal Income ETF)

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.

Read important investment disclosures
  • YTD RETURNS (NAV/MARKET PRICE %)
    0.92/0.76
    As of 4/14/26
  • EXPENSE RATIO (GROSS/NET %)
    0.25/0.25
  • 30-DAY SEC YIELD (GROSS/NET %)tooltip: The 30-day SEC yield reflects the rate at which the fund is earning income on its current portfolio of securities calculated according to the standardized SEC formula; when applicable, it reflects the maximum sales charge. If shown, a net yield reflects fee waivers and/or expense reimbursements in effect during the period. Without waivers and/or reimbursements, the yield would be reduced. Gross yield does not adjust for any fee waivers and/or expense reimbursements in effect.
    2.74/2.74
    As of 3/31/26
  • Morningstar Categorytooltip: In an effort to classify funds by what they own, as well as by their prospectus objectives and styles, Morningstar developed Morningstar Categories. While the prospectus objective identifies a fund's investment goals based on the wording in the fund prospectus, the Morningstar Category identifies funds based on their actual investment styles as measured by their underlying portfolio holdings (portfolio and other statistics over the past three years).
    Muni National Short
  • Inception date
    9/26/23
  • Fund Assets ($M)
    $1,126.5
    As of 4/14/26
  • Yield to worst (%)
    3.1
    As of 4/14/26
  • Effective duration
    2.5
    As of 4/14/26
  • Primary benchmark
    Bloomberg Municipal Short 1-5 Years Indextooltip: 76013 definition not found.

Overview

Description

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.
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.
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.
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.
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.

Key facts

Fund inception
9/26/23
Fund assets (millions)
$1,126.5
As of 4/14/26 (updated daily)
Exchange
NYSE Arca, Inc.
Issuers
562
Holdings as of 3/31/26 (updated monthly)
mthDividendsPaid
Regular dividends paid
Monthly
NAV
$26.37
As of 4/14/26 (updated daily)
Market Price
$26.35
As of 4/14/26 (updated daily)
One-year turnover (%)tooltip: Portfolio turnover is the portion of a portfolio's holdings sold and replaced with new securities annually, usually expressed as a percentage of the portfolio's total assets. For example, a portfolio with a turnover of 25% holds assets for an average of about four years, while a portfolio with a turnover of 100% holds assets for one year.
55
Fiscal year-end
December
Prospectus date
3/1/26
NF_ETFLogic_premium,NF_ETFLogic_discount
Premium/discounttooltip: NF_ETFLogic_premDiscountRatio definition not found.
-0.07%
As of 4/14/26 (updated daily)
NF_ETFLogic_medianBid
30-day median bid/ask spreadtooltip: NF_ETFLogic_medianBid definition not found.
0.04%
As of 4/14/26 (updated daily)
view premium/discount details

Portfolio managers

Portfolio managers' years of experience are as of the previous calendar year end.
Mark Marinella
39 years of investment industry experience
13 years with Capital Group
2 years managing fund
Vikas Malhotra
Principal Investment Officer
14 years of investment industry experience
9 years with Capital Group
2 years managing fund

A distinctive investment approach

The Capital System is designed to deliver superior investment results. Across asset classes, we believe in collaborative research to yield deeper insights, diverse perspectives from multiple portfolio managers and analysts, and a long-term view to decision-making.

Returns

returns

Investment results

Total returns for periods ended 3/31/26 (%)
  • ●NAV
  • ●Market Price
  • ●Index
Returns table
ETFDaily YTD1M3MYTD1YLifetime
Index data refers to the Bloomberg Municipal Short 1-5 Years Indextooltip: 76013 definition not found..
Daily YTD as of 4/14/26. Returns greater than one year are annualized.
Fund inception: 9/26/23. Index lifetime is based on inception date of the fund.

Prices & distributions

As of 4/14/26
  • nav ($)
    $26.37
  • Price change ($)
    $0.00
  • Price change (%)
    $0.00
  • market price ($)
    $26.35
  • Price change ($)
    $0.02
  • Price change (%)
    $0.08
Prices distributions table
YTD dividends subtotal ($)0.19
YTD cap gains subtotal ($)0.00
YTD total distributions ($)0.19

Yield

As of 3/31/26 (updated monthly)
12-month distribution rates (at NAV %)tooltip: The income per share paid by the fund over the past 12 months to an investor from dividends (including any special dividends). The distribution rate is expressed as a percentage of the current price.3.07
30-day SEC yield (gross/net %)tooltip: The 30-day SEC yield reflects the rate at which the fund is earning income on its current portfolio of securities calculated according to the standardized SEC formula; when applicable, it reflects the maximum sales charge. If shown, a net yield reflects fee waivers and/or expense reimbursements in effect during the period. Without waivers and/or reimbursements, the yield would be reduced. Gross yield does not adjust for any fee waivers and/or expense reimbursements in effect.2.74/2.74

Portfolio composition

assetMix

Asset mix

As of 3/31/26 (updated monthly, %)
Asset Mix
U.S. Equities
0.0
Non-U.S. Equities
0.0
U.S. Bonds
89.1
Non-U.S. Bonds
0.0
Cash, Equivalents & Other
10.9
U.S. Equities
-
Non-U.S. Equities
-
U.S Bonds
89.1
Non-U.S. Bonds
-
Cash, Equivalents & Other
10.9

Key statistics

% of net assets as of 4/14/26 (updated daily)
Key statistics
CGSM
BSNY_YTWSEC
Yield-to-worsttooltip: Lower of Yield to Maturity or the bond's total return if put or call options are exercised prior to maturity but no default occurs. (%)
3.1
BSNY_YTMSEC
Yield-to-maturitytooltip: A bond's total return if held to maturity and no default occurs or options are exercised. Assumes coupons are paid on time and accounts for their present value. Assumes principal is returned at maturity. (%)
3.2
BSNY_YTWSEC
Average coupontooltip: AVGCOUP definition not found. (%)
4.5
Effective durationtooltip: Effective duration is a duration calculation for bonds that takes into account that expected cash flows will fluctuate as interest rates change. (years)
2.5
Spread durationtooltip: A measure of fixed income securities' sensitivity to spread movement. (years)
2.4
Option adjusted spreadtooltip: Option-adjusted spread is a yield-spread calculation used to value securities with embedded options. (bps)
52.9
Duration times spreadtooltip: durationTimesSpread definition not found. (bps)
151.5

Top obligors

As of 3/31/26 (updated monthly, %)
CGSM
Index
VIEW DAILY HOLDINGS
VIEW QUARTERLY HOLDINGS
VIEW DAILY HOLDINGS
VIEW QUARTERLY HOLDINGS
CGSMIndex
California (State of)1.9%3.9%
California Community Choice Financing Authority1.7%2.0%
Metropolitan Transportation Authority Payroll Mobility Tax Revenue1.5%0.7%
State of Wisconsin1.5%0.6%
Black Belt Energy Gas Dist1.3%1.1%
Kentucky Inc Ky Pub Energy Auth1.3%0.6%
Ascension Health Credit Group1.1%0.1%
Minnesota (State of)1.0%0.7%
Commonwealth of Puerto Rico0.9%0.0%
Los Angeles Department of Water & Power Power System Revenue0.9%0.5%
Index data refers to the Bloomberg Municipal Short 1-5 Years Indextooltip: 76013 definition not found..

Portfolio exposures

As of 3/31/26 (updated monthly)
Fixed Income sector breakdown
Sectors and top holdingsMarket value (%)Contribution to duration
CGSMINDEXCGSMINDEX
General obligation16.3731.230.470.70
Revenue bonds73.6768.651.801.67
Other0.020.110.000.00
Swaps & futures0.00—0.14—
Cash & equivalents9.94—0.01—
Index data refers to the Bloomberg Municipal Short 1-5 Years Indextooltip: 76013 definition not found..

Fees & expenses

Expense ratio

As of the most recent prospectus
CGSM (gross/net %)
0.25/0.25

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