BFIX vs CGMS: Grades, Fees and Holdings Compared

Build Bond Innovation ETF

BFIXCNYSE Arca

Capital Group U.S. Multi-Sector Income ETF

CGMSANYSE Arca

Overlap

No data

Expense ratio

CGMS −0.06pt a year

BFIX0.45%CGMS0.39%

Avg volume · 30D

CGMS 327.7×the volume

BFIX3.65KCGMS1.2M

3Y return · a year

BFIX +0.4pt

BFIX+7.6%CGMS+7.2%

BFIX vs CGMS Performance

Oct 31, 2025 – Nov 2, 2026

+1.4%BFIX+1.4%CGMS

Expense ratio: BFIX 0.45%; CGMS 0.39%, better
Fund size: BFIX $12M; CGMS $5.61B
1Y total return: BFIX +1.4%; CGMS +1.4%
Yield (12M): BFIX 3.59%; CGMS 6.08%, better
Holdings: BFIX 118; CGMS 1551
Avg volume (30D): BFIX 3.65K sh; CGMS 1.2M sh, better
NAV per share: BFIX $24.78; CGMS $26.40
52W range

ETF.net Grade

Pillar letters and Scores for BFIX, CGMS, with each pillar’s weight
Pillar	BFIX	CGMS
Cost30% weight	B59	A75Higher
Mission25% weight	F5	A82Higher
Risk15% weight	C54	B68Higher
Tradability15% weight	D39	A74Higher
Holdings10% weight	C51	A84Higher
Durability5% weight	C47	A72Higher

Rank among Conservative Allocation funds

How we build Categories ›

Same Category. BFIX and CGMS are both graded against the same 7 Conservative Allocation funds, so their Grades compare head to head.

Conservative Allocation⁠

Category · 7 funds

See all 7 ›

CGMS ranks 2nd and BFIX 7th of 7 funds in the Conservative Allocation Category.

Rank 1AAOKiShares Core 30/70 Conservative Allocation ETFScore 86
Rank 2ACGMSCapital Group U.S. Multi-Sector Income ETFScore 76
Rank 3CBLUIBluemonte Diversified Income ETFScore 52
Rank 6CMFULMindful Conservative ETFScore 43
Rank 7CBFIXBuild Bond Innovation ETFScore 40

Our read on each fund

ETF.net Research

BFIXCBuild Bond Innovation ETF

CGMSACapital Group U.S. Multi-Sector Income ETF

In short

BFIX Bonds with a stock-market kicker. BFIX pairs an actively managed investment-grade bond portfolio with S&P 500 call options, chasing capital appreciation and risk mitigation in one wrapper. Distributions land monthly.

CGMS Capital Group's bond desk in ETF form: one ticket across the income-producing corners of the US market, roughly 1,200 positions deep, paying monthly. Income first, capital appreciation second.

Stated mandate

BFIX The Fund seeks capital appreciation and risk mitigation through an actively managed portfolio combining investment-grade bonds and S&P 500 Index call options.

CGMS The fund seeks a high level of current income, with capital appreciation as a secondary objective.

Why people hold it

BFIX The structure is the whole idea: bonds carry the portfolio, S&P 500 call options carry the equity exposure. Upside participation comes from option premium, not from owning the stocks.
At 0.45% it sits exactly at the median for conservative multi-asset funds, and roughly a third the cost of high-fee cohort rivals XRLX and MFUL.
Actively run rather than index-tracking, so the bond sleeve and the option sleeve can be reshaped as rates and volatility shift.
Trading since February 2022, so there is real-money history behind the bonds-plus-calls design instead of a backtest.

CGMS Charges 0.39% a year, below the median for its conservative-income peer group.
Spread across roughly 1,200 holdings, so no single issuer carries the portfolio.
Pays monthly, and with multi-billion-dollar scale and steady trading it's one of the easier funds in its cohort to move in and out of.
Sits among the strongest implementations in its small conservative-income peer group.

Worth knowing

BFIX A small, thinly traded fund. Spreads can run wider and big orders are harder to work than in the category's largest names.
Call options expire. When the S&P 500 stays flat, the premium spent on the upside sleeve is a cost the bond side has to absorb.
Inside its conservative multi-asset cohort it lands in the bottom quartile overall, where plainer, cheaper blends such as CGMS and BLUI rate more strongly.

CGMS Income is the mandate: the fund seeks a high level of current income, with capital appreciation only a secondary objective.capitalgroup.com
Cheaper doors exist in the cohort. BLUI runs 0.25%.
Launched in late 2022, so the track record is short next to long-running multi-sector bond funds.

Full BFIX profile⁠

Full CGMS profile⁠

BFIX vs CGMS Holdings

How BFIX and CGMS differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile88.1%
Asset classFixed Income100%

Sector

No Sector split for BFIX.

Country, concentration and asset class

Country by domicile

Country weights in BFIX and CGMS, widest gap first
Country	More in BFIXMore in CGMS	BFIX	CGMS
United States	BFIX +11.9 points	99.5%	87.6%
Cayman Islands	CGMS +3.4 points	0.0%	3.4%
Luxembourg	CGMS +1.4 points	0.5%	1.9%
Japan	CGMS +1.0 points	0.0%	1.0%
United Kingdom	CGMS +0.9 points	0.0%	0.9%
Netherlands	CGMS +0.8 points	0.0%	0.8%
Bermuda	CGMS +0.7 points	0.0%	0.7%
France	CGMS +0.6 points	0.0%	0.6%
Other countries (20)	CGMS +3.1 points	0.0%	3.1%

Concentration

Weight in the 10 largest Holdings

BFIX59.5%
CGMS9.2%

Securities held

BFIX117
CGMS1,539

Asset class

BFIX: Fixed Income
CGMS: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. BFIX holds 117 securities, CGMS 1,539.

All BFIX holdings⁠All 1,246 CGMS holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BFIX vs CGMS Cost

Overpaying BFIX vs CGMS

$1,143

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

BFIX 0.45%
$9,041
CGMS 0.39%
$7,898

Amount$10,000

Years30 years

Cost over time

BFIX 0.45%
CGMS 0.39%
Overpaying

Year by year

Year	BFIX	CGMS	Overpaying
10	$812	$705	$107
20	$3,128	$2,725	$403
30	$9,041	$7,898	$1,143

Expense ratio

0.45%BFIX
0.39%CGMS, cheaper

CGMS0.39%BFIX0.45%

0.15%1.80%

Middle half of Conservative Allocation funds
Median 0.67%

CGMS 2nd cheapest of 7 funds

BFIX 3rd cheapest of 7 funds

BFIX vs CGMS Dividends

Last 12 months to Nov 2, 2026

Yield (12M): BFIX 3.59%; CGMS 6.08%, better
Payout (12M): BFIX $0.89; CGMS $1.60
Last payment: BFIX $0.07; CGMS $0.12
Ex-dividend: BFIX Oct 29, 2026; CGMS Oct 30, 2026
Paid on: BFIX Oct 30, 2026; CGMS Nov 2, 2026
Frequency: BFIX Monthly; CGMS Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

BFIXMonthly · 46 paymentsAll BFIX payments⁠

CGMSMonthly · 46 paymentsAll CGMS payments⁠

BFIX vs CGMS Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: BFIX 3.2%, betterCGMS 4.7%
Return per unit of riskSharpe ratio, 3 years: BFIX 0.98, betterCGMS 0.71
Worst fallMax drawdown, 5 years: BFIX −8.0%since Feb 2022CGMS −4.1%since Oct 2022
Market sensitivityBeta, 5 years: BFIX 0.37CGMS 0.72; Market = 1

BFIX and CGMS in the news

All news⁠

New ETFs
XFUNDS Technology Income ETF is 99.1% the Vanguard Information Technology ETF
Oct 12, 2026CGMS
ETF Filings
Franklin to liquidate DVAL, down to $71 million from $181 million at its 2022 conversion
Sep 8, 2026CGMS

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BFIX vs CGMS

In short

Stated mandate

Why people hold it

Worth knowing

How BFIX and CGMS differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

XFUNDS Technology Income ETF is 99.1% the Vanguard Information Technology ETF

Franklin to liquidate DVAL, down to $71 million from $181 million at its 2022 conversion

How BFIX and CGMS differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings