Capital Group Municipal High-Income ETF
Capital Group Fixed Income ETF Trust · 1 share class
Fund classification
Classified from what the fund holds · as of 2026 Q2
Capital Group Municipal High-Income ETF is an actively managed U.S. bond ETF.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- ETF
- Credit quality
- High yield
- Rate sensitivity
- Intermediate duration
Fund profile
As filed in the prospectus · 2026 Q1
The funds investment objective is to provide a high level of current income exempt from regular federal income tax.
The fund invests at least 60% of its portfolio in municipal bonds rated BBB+ or below (or Baa1 or below), including unrated securities the adviser deems equivalent quality, seeking higher current income exempt from federal tax. The fund may also hold private activity bonds subject to the alternative minimum tax and invests at least 80% in federally tax-exempt securities overall. Because the fund concentrates in lower-rated debt, credit risk is elevated relative to higher-quality municipal bond funds.
| Share class | Expense ratio | As of |
|---|---|---|
| CGHM | 0.34% | 2025 Q1 |
Portfolio turnover 15.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 98.63% |
| Securitized | 1.29% |
| Cash & short-term | 0.02% |
| Derivatives | 0.01% |
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: City of New York NY, Black Belt Energy Gas District ×3, Kentucky Public Energy Authority, New Hampshire Business Finance Authority ×2, East Baton Rouge Parish Industrial Development Board Inc
Largest exited: The Industrial Development Authority of the City of Phoenix Arizona, Connecticut State Health & Educational Facilities Authority, City of Rochester MN, Maryland Health & Higher Educational Facilities Authority, Illinois Finance Authority ×2, State of Oregon, Tarrant County Cultural Education Facilities Finance Corp
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 80.7% |
| Floating rate | 15.4% |
| Zero-coupon or unclassified | 3.9% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 0.7% |
| 1-3y | 1.3% |
| 3-5y | 2.3% |
| 5-10y | 12.6% |
| 10y+ | 83.1% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 52% |
| Interest rates | 48% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| High yield | +3.65 yr |
| Investment grade | +3.00 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.04 yr | 1% |
| 1 yr | 0.34 yr | 6% |
| 5 yr | 1.39 yr | 23% |
| 10 yr | 2.93 yr | 49% |
| 30 yr | 1.33 yr | 22% |
| 3 mo | 0.03 yr | 0% |
| 1 yr | 0.36 yr | 5% |
| 5 yr | 1.51 yr | 23% |
| 10 yr | 3.34 yr | 50% |
| 30 yr | 1.42 yr | 21% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.04 | +0.01 | +0.02 | $3.0k | $5.0k |
| 1 yr | +0.34 | +0.13 | +0.23 | $41.7k | $73.6k |
| 5 yr | +1.39 | +0.67 | +0.84 | $212.2k | $267.0k |
| 10 yr | +2.93 | +1.59 | +1.75 | $506.9k | $555.8k |
| 30 yr | +1.33 | +0.60 | +0.82 | $190.7k | $260.9k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | Commonwealth of Puerto Rico0.00% floating · due 2043-11-01 | 1.12% | $35.55M | — |
| — | Commonwealth of Puerto Rico0.00% · due 2051-11-01 | 0.89% | $28.18M | — |
| — | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue4.33% · due 2040-07-01 | 0.65% | $20.53M | — |
| — | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue0.00% · due 2046-07-01 | 0.50% | $15.85M | — |
| — | City of New York NY3.05% floating · due 2042-03-01 | 0.49% | $15.60M | — |
| — | Arkansas Development Finance Authority4.00% floating · due 2046-09-01 | 0.46% | $14.66M | — |
| — | Puerto Rico Commonwealth Aqueduct & Sewer Authority5.00% · due 2047-07-01 | 0.44% | $14.09M | — |
| — | Mobile County Industrial Development Authority4.75% · due 2054-12-01 | 0.41% | $13.06M | — |
| — | Capital Trust Agency Inc5.00% · due 2056-07-01 | 0.37% | $11.69M | — |
| — | Black Belt Energy Gas District5.00% · due 2036-06-01 | 0.35% | $11.04M | — |
Top 10 positions are 5.66% of net assets, top 25 10.38%, across 837 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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