CGCPvsPWZETF Comparison
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Capital Group Core Plus Income ETF (CGCP) belongs to the Intl Aggregate Bonds segment. Invesco California AMT-Free Municipal Bond ETF (PWZ) is part of the Municipal Bonds segment. CGCP's top 3 sector exposures are Sovereign, Finance and Non-Corporate. In contrast, PWZ's top sector exposures are Municipal. CGCP is more expensive with a Total Expense Ratio (TER) of 0.34%, versus 0.28% for PWZ. CGCP is down -0.93% year-to-date (YTD) with +$2.33B in YTD flows. PWZ performs worse with -4.57% YTD performance, and +$154M in YTD flows. Run a side-by-side ETF comparison of CGCP and PWZ below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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CGCP vs PWZ performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/17/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | CGCP PWZ | -0.80%-3.35% | -1.38%-5.41% | -0.93%-4.57% | -0.31%-2.90% | +15.83%+3.73% | n/a-6.46% |
| Flows | CGCP PWZ | +$71M+$42M | +$701M+$104M | +$2.33B+$154M | +$3.13B+$136M | +$7.70B+$552M | -+$789M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | CGCP PWZ | +3.91%+4.53% | +3.57%+3.57% | +4.77%+5.22% | n/a+5.07% |
| Max drawdown | CGCP PWZ | -2.48%-6.26% | -2.95%-6.26% | -4.16%-8.29% | n/a-17.07% |
| Max drawdown duration | CGCP PWZ | 80d74d | 200d74d | 280d394d | n/a1719d |
Trading data
CGCP | PWZ | |
Last sale 9/18/2026 at 1:30 PM | $21.63 | $22.95 |
| Previous close 09/17/2026 | $21.73 | $23.05 |
| Consolidated volume 09/17/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 19, 2026
1-year trailing difference
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CGCP
is actively managed and doesn’t replicate an indexCGCP | PWZ | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/18/2026 at 1:30 PM
Live
Closed
CGCP | PWZ | |
|---|---|---|
| Last price | $21.63 | $22.95 |
| 1D performance | -0.46% | -0.43% |
| AuM | $8.49 B | $1.19 B |
| E/R | 0.34% | 0.28% |
Characteristics
CGCP | PWZ | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Capital Group | Invesco |
| Benchmark | - | ICE BofA California Long-Term Core Plus Municipal Securities Index |
| N° of holdings | 786 | 677 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | February 22, 2022 | October 11, 2007 |
| ESG | No | No |
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Exposure
Countries
CGCP
USA
70.83%
Other
29.17%
PWZ
USA
69.86%
Other
30.14%
Sectors
CGCP
Sovereign
26.96%
Finance
12.16%
Non-Corporate
9.66%
Industrials
8.92%
Other
42.3%
PWZ
Municipal
69.86%
Other
30.14%
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Diversification
CGCP
Total weight of top 15 holdings out of 15
34.77%
PWZ
Total weight of top 15 holdings out of 15
7.32%
Top 15 holdings
Data as of July 31, 2026
CGCP
Capital Group Central Cash Fund
9.66%
USA, Bonds 5% 15may2046, USD
4.22%
USA, Notes 3.5% 31jan2028, USD (U-2028)
3.22%
USA, Bonds 5% 15may2056, USD
2.94%
USA, Bonds 4.375% 15may2041, USD
1.66%
Fannie Mae or Freddie Mac TBA, 2.5% 1apr2046, USD (ABS)
1.59%
USA, Notes 3.75% 31jan2031, USD (U-2031)
1.59%
USA, Notes 3.75% 30apr2028, USD (BA-2028)
1.56%
USA, Notes 3.5% 15mar2029, USD (AL-2029)
1.45%
US31418FE297
1.40%
USA, Notes 4.125% 31may2031, USD (Z-2031)
1.16%
US01F0606917
1.12%
US01F0206957
1.11%
US01F0606834
1.09%
FR SD4977, 5% 1nov2053, USD (ABS)
1.00%
PWZ
California Health Facilities Financing Authority, 4% 1nov2044, USD
0.74%
California Health Facilities Financing Authority, 4% 15aug2048, USD (2021A)
0.65%
University of California Medical Center, 5% 15may2047, USD (2022)
0.62%
California Educational Facilities Authority, 5% 1oct2055, USD (2025A)
0.58%
University of California Medical Center, 4% 15may2053, USD
0.55%
California Educational Facilities Authority, 5% 1may2049, USD
0.54%
Los Angeles Unified School District, 4% 1jul2044, USD
0.48%
San Diego Community College District, 5% 1aug2055, USD (2024)
0.43%
Foothill/Eastern Transportation Corridor Agency, 4% 15jan2046, USD (2021A)
0.42%
University of California, 5% 15may2052, USD (2022)
0.40%
San Francisco Public Utilities Commission, 5% 1oct2054, USD (2024)
0.40%
California Educational Facilities Authority, 5% 1may2045, USD
0.39%
San Francisco Public Utilities Commission, 5% 1nov2055, USD (2025)
0.38%
University of California, 5% 15may2053, USD (2025)
0.38%
California Public Works Board, 5% 1apr2049, USD (2024)
0.38%
Frequently asked questions about CGCP and PWZ
How have the CGCP and PWZ ETFs performed in 2026?
As of September 17, 2026, CGCP is down -0.93% year-to-date (YTD), while PWZ has lost -4.57%. That puts CGCP better performer ahead so far this year.
Which ETF is attracting more investor money: CGCP or PWZ?
Year-to-date, the CGCP ETF saw +$2.33B in flows, compared to +$154M for PWZ.
Which ETF is more volatile: CGCP or PWZ?
Over the past year, CGCP had a volatility of 3.57%, while PWZ experienced 3.57%.
Which ETF is bigger: CGCP or PWZ?
As of September 17, 2026, CGCP holds $8.49 B in assets under management (AUM), while PWZ manages $1.19 B.
What sectors do the CGCP and PWZ ETFs invest in?
CGCP leans toward sectors like Sovereign, Finance and Non-Corporate. Meanwhile, PWZ focuses on Municipal.
What are the top holdings of the CGCP ETF and PWZ ETF?
CGCP top holdings include Capital Group Central Cash Fund, USA, Bonds 5% 15may2046, USD and USA, Notes 3.5% 31jan2028, USD (U-2028). PWZ holds in its top three: California Health Facilities Financing Authority, 4% 1nov2044, USD, California Health Facilities Financing Authority, 4% 15aug2048, USD (2021A) and University of California Medical Center, 5% 15may2047, USD (2022).
Which ETF is more diversified: CGCP or PWZ?
CGCP holds 1218 securities with 34.77% of its assets in the top 15. PWZ has 1206 securities and a top 15 weight of 7.32%.
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