CGMSvsPWZETF Comparison
VS
Capital Group U.S. Multi-Sector Income ETF (CGMS) belongs to the Intl Aggregate Bonds segment. Invesco California AMT-Free Municipal Bond ETF (PWZ) is part of the Municipal Bonds segment. CGMS's top 3 sector exposures are Finance, Technology and Energy. In contrast, PWZ's top sector exposures are Municipal. CGMS is more expensive with a Total Expense Ratio (TER) of 0.39%, versus 0.28% for PWZ. CGMS is up 0.64% year-to-date (YTD) with +$1.91B in YTD flows. PWZ performs worse with -2.23% YTD performance, and +$200M in YTD flows. Run a side-by-side ETF comparison of CGMS 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.
Find out how industry players manage ETF portfolios. Discover our library of Model portfolios
CGMS vs PWZ performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 11/05/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | CGMS PWZ | +1.46%+5.19% | -1.08%-1.63% | +0.64%-2.23% | +2.00%-2.00% | +23.83%+9.04% | n/a-3.84% |
| Flows | CGMS PWZ | +$163M+$53M | +$346M+$119M | +$1.91B+$200M | +$2.29B+$208M | +$5.56B+$419M | -+$790M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | CGMS PWZ | +3.35%+7.09% | +3.13%+4.64% | +3.41%+5.20% | n/a+5.25% |
| Max drawdown | CGMS PWZ | -2.81%-8.03% | -2.81%-9.53% | -3.76%-9.53% | n/a-17.07% |
| Max drawdown duration | CGMS PWZ | 72d85d | 72d123d | 92d123d | n/a1768d |
Trading data
CGMS | PWZ | |
Last sale 11/6/2026 at 2:30 PM | $26.50 | $23.37 |
| Previous close 11/04/2026 | $26.53 | $23.31 |
| Consolidated volume 11/04/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of November 8, 2026
1-year trailing difference
Create an account to view replication metrics
Join for free
CGMS
is actively managed and doesn’t replicate an indexCGMS | PWZ | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Advertisement
Main metrics
Last update 11/6/2026 at 2:30 PM
Live
Closed
CGMS | PWZ | |
|---|---|---|
| Last price | $26.50 | $23.37 |
| 1D performance | -0.11% | +0.26% |
| AuM | $5.63 B | $1.26 B |
| E/R | 0.39% | 0.28% |
Characteristics
CGMS | PWZ | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Capital Group | Invesco |
| Benchmark | - | ICE BofA California Long-Term Core Plus Municipal Securities Index |
| N° of holdings | 891 | 674 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 25, 2022 | October 11, 2007 |
| ESG | No | No |
Advertisement
Exposure
Countries
CGMS
USA
65.15%
Other
34.85%
PWZ
USA
67.15%
Other
32.85%
Sectors
CGMS
Finance
21.2%
Other
78.8%
PWZ
Municipal
67.15%
Other
32.85%
Advertisement
Diversification
CGMS
Total weight of top 15 holdings out of 15
9.72%
PWZ
Total weight of top 15 holdings out of 15
7.25%
Top 15 holdings
Data as of September 30, 2026
CGMS
Capital Group Central Cash Fund
3.35%
USA, Bonds 5% 15may2046, USD
0.94%
RD Michigan Property Owner I, 7.5% 30mar2045, USD
0.58%
US09629LBC81
0.55%
JP Morgan, 5.803% 23jul2041, USD
0.52%
US871044BF95
0.43%
US14315RBQ39
0.42%
Meta Platforms, 4.45% 15aug2052, USD
0.41%
Bank of America Corporation, 5.045% 6feb2037, USD (N)
0.39%
Cloud Software Group, 9% 30sep2029, USD
0.37%
Connect Finco SARL, 9% 15sep2029, USD
0.37%
US05351KAW99
0.36%
MPT Operating Partnership, 8.5% 15feb2032, USD
0.35%
Navient, 5.625% 1aug2033, USD (A)
0.34%
Charter Communications Operating, 3.7% 1apr2051, USD
0.34%
PWZ
California Health Facilities Financing Authority, 4% 1nov2044, USD
0.86%
University of California Medical Center, 5% 15may2047, USD (2022)
0.62%
California Health Facilities Financing Authority, 4% 15aug2048, USD (2021A)
0.58%
US13032U7V45
0.53%
University of California Medical Center, 4% 15may2053, USD
0.52%
California Educational Facilities Authority, 5% 1oct2055, USD (2025A)
0.51%
California Educational Facilities Authority, 5% 1may2049, USD
0.49%
University of California, 5% 15may2053, USD (2025)
0.46%
Los Angeles Unified School District, 4% 1jul2044, USD
0.43%
Foothill/Eastern Transportation Corridor Agency, 4% 15jan2046, USD (2021A)
0.41%
University of California, 5% 15may2052, USD (2022)
0.40%
San Diego Community College District, 5% 1aug2055, USD (2024)
0.38%
San Francisco Public Utilities Commission, 5% 1oct2054, USD (2024)
0.37%
California Educational Facilities Authority, 5% 1may2045, USD
0.36%
San Francisco Public Utilities Commission, 5% 1nov2055, USD (2025)
0.36%
Frequently asked questions about CGMS and PWZ
How have the CGMS and PWZ ETFs performed in 2026?
As of November 5, 2026, CGMS is up 0.64% year-to-date (YTD), while PWZ has lost -2.23%. That puts CGMS better performer ahead so far this year.
Which ETF is attracting more investor money: CGMS or PWZ?
Year-to-date, the CGMS ETF saw +$1.91B in flows, compared to +$200M for PWZ.
Which ETF is more volatile: CGMS or PWZ?
Over the past year, CGMS had a volatility of 3.13%, while PWZ experienced 4.64%.
Which ETF is bigger: CGMS or PWZ?
As of November 5, 2026, CGMS holds $5.63 B in assets under management (AUM), while PWZ manages $1.26 B.
What sectors do the CGMS and PWZ ETFs invest in?
CGMS leans toward sectors like Finance. Meanwhile, PWZ focuses on Municipal.
What are the top holdings of the CGMS ETF and PWZ ETF?
CGMS top holdings include Capital Group Central Cash Fund, USA, Bonds 5% 15may2046, USD and RD Michigan Property Owner I, 7.5% 30mar2045, USD. PWZ holds in its top three: California Health Facilities Financing Authority, 4% 1nov2044, USD, University of California Medical Center, 5% 15may2047, USD (2022) and California Health Facilities Financing Authority, 4% 15aug2048, USD (2021A).
Which ETF is more diversified: CGMS or PWZ?
CGMS holds 1372 securities with 9.72% of its assets in the top 15. PWZ has 1263 securities and a top 15 weight of 7.25%.
Advertisement
Advertisement
