Capital Group Short Duration Municipal Income ETF
CGSM
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 333 South Hope Street, 55th Floor Los Angeles CA United States of America 90071
- IPO Date
- Sep 28, 2023
- Website
- capitalgroup.com
- Similar Companies
- Business
- Capital Group Short Duration Municipal Income ETF (CGSM) is an actively managed exchange-traded fund that seeks current income exempt from regular federal income tax, consistent with a short duration profile. The fund, launched on September 26, 2023, invests primarily in a diversified portfolio of investment-grade U.S. municipal bonds and debt securities, including variable-rate demand obligations, revenue bonds, and general obligation bonds from issuers such as state housing authorities, public energy authorities, and municipal water financers; it maintains an average portfolio duration of approximately one year, with top holdings like South Carolina St Jobs Econ Dev adjustable-rate bonds and Wisconsin St Hsg Econ Dev fixed-rate securities. Issued by Capital Group Fixed Income ETF Trust and advised by Capital Research and Management Company, with fund managers Vikas Malhotra and Mark Marinella, CGSM trades on NYSE Arca and targets investors seeking tax-efficient, low-interest-rate-sensitive fixed income exposure in the broad municipals category. Headquartered in Los Angeles, California, as part of Capital Group Companies, Inc., the ETF operates within the U.S. fixed income market, focusing on North American developed markets and holding over 760 securities with assets under management exceeding $869 million as of late 2025. The fund's portfolio emphasizes municipal tax-exempt securities (approximately 95%), supplemented by minimal cash equivalents and government-related bonds, while maintaining a net expense ratio of 0.25% and monthly dividend distributions yielding around 3%. In recent developments, CGSM has benefited from Capital Group's broader expansion of its active ETF lineup, which grew to nearly $100 billion in assets by late 2025 through launches of complementary products like the Capital Group High Yield Bond ETF (CGHY), U.S. Large Growth ETF (CGGG), and U.S. Large Value ETF (CGVV) in June 2025, enhancing portfolio construction options for advisors. The ETF itself has seen steady share price appreciation, rising 1.6% year-to-date through 2025 to approximately $26.38, alongside consistent monthly income distributions totaling $0.81 in 2024. No major acquisitions, partnerships, or reorganizations specific to CGSM have been reported in the last two years, reflecting stable operations amid Capital Group's focus on active ETF innovation.