CGHM vs NHYM: Grades, Fees and Holdings Compared

Capital Group Municipal High-Income ETF

CGHMANYSE Arca

Nuveen High Yield Municipal Income

NHYMBNYSE Arca

Overlap

No data

Expense ratio

CGHM −0.01pt a year

CGHM0.34%NHYM0.35%

Avg volume · 30D

CGHM 33.0×the volume

CGHM865KNHYM26.2K

CGHM vs NHYM Performance

Oct 31, 2025 – Nov 2, 2026

+1.2%CGHM+0.3%NHYM

Expense ratio: CGHM 0.34%, better; NHYM 0.35%
Fund size: CGHM $3.75B; NHYM $145M
1Y total return: CGHM +1.2%, better; NHYM +0.3%
Yield (12M): CGHM 4.33%; NHYM 5.08%, better
Holdings: CGHM 3762; NHYM 278
Avg volume (30D): CGHM 865K sh, better; NHYM 26.2K sh
NAV per share: CGHM $24.72; NHYM $23.95
52W range

ETF.net Grade

Pillar letters and Scores for CGHM, NHYM, with each pillar’s weight
Pillar	CGHM	NHYM
Cost30% weight	A78Higher	B67
Mission25% weight	A100Higher	A84
Risk15% weight	B61Higher	D37
Tradability15% weight	B69Higher	C46
Holdings10% weight	A96Higher	B65
Durability5% weight	B67Higher	D25

Rank among High-Yield Municipal Bonds funds

How we build Categories ›

Same Category. CGHM and NHYM are both graded against the same 18 High-Yield Municipal Bonds funds, so their Grades compare head to head.

High-Yield Municipal Bonds⁠

Category · 18 funds

See all 18 ›

CGHM ranks 1st and NHYM 10th of 18 funds in the High-Yield Municipal Bonds Category.

Rank 1ACGHMCapital Group Municipal High-Income ETFScore 80
Rank 2AHYDVanEck High Yield Muni ETFScore 79
Rank 10BIROCInvesco Rochester High Yield Municipal ETFScore 61
Rank 10BNHYMNuveen High Yield Municipal IncomeScore 61
Rank 12BEVYMEaton Vance High Income Municipal ETFScore 58

Our read on each fund

ETF.net Research

CGHMACapital Group Municipal High-Income ETF

NHYMBNuveen High Yield Municipal Income

In short

CGHM Index high-yield muni funds stop where the ratings stop. CGHM is Capital Group's active version: built to lean into lower-rated and unrated tax-exempt bonds, with the income paid out monthly.

NHYM Most muni ETFs track an index of investment-grade paper. NHYM goes the other way: an actively run portfolio built mainly from non-investment-grade and unrated munis, reaching for tax-free income in the corner indexers skip.

Stated mandate

CGHM The fund seeks a high level of current income that is exempt from regular federal income tax.

NHYM The Fund seeks high current income that is exempt from regular federal income tax. Capital appreciation is secondary when consistent with that primary aim.

Why people hold it

CGHM The mandate is the whole point: at least 60% in bonds rated BBB+/Baa1 or below, or unrated, the corner of the muni market index funds cap or skip.yahoo.com capitalgroup.com
Income lands monthly and is exempt from regular federal income tax, spread across roughly 600 bond positions rather than a few big credits.
A young fund that is already a multi-billion-dollar one, and what it holds lines up closely with the mandate it advertises.
Sits in the upper half of the muni ETF field we grade, a solid showing for an active fund fishing in the market's messier waters.

NHYM Active out of necessity. Unrated munis have no clean index to copy, so the portfolio is built bond by bond by Nuveen's own credit analysts, the fund's stated edge.nuveen.com
Pays monthly, and the stated primary objective is high current income exempt from regular federal income tax, with capital appreciation a secondary aim.nuveen.com
About 300 positions spread the credit work across many small issuers rather than betting the portfolio on a handful of names.

Worth knowing

CGHM At 0.34% it runs above the 0.30% muni cohort median, and well above plain index core muni funds like VTEB (0.03%) and MUB (0.05%).
Lower-rated and unrated munis carry more credit and liquidity risk than investment-grade muni funds, so swings can be sharper when credit gets stressed.yahoo.com
Launched in 2024, so the history here is short and has not yet run through a full credit cycle.

NHYM The issuer flags what the mandate implies: non-investment-grade and unrated bonds with long maturities carry credit risk and real interest-rate sensitivity.nuveen.com
0.35% a year sits a touch above the muni cohort's median fee. That's the toll for active credit selection instead of index replication.
Launched in 2025 and still far smaller and thinner-traded than the muni index heavyweights (VTEB, MUB), which can show up as wider bid-ask spreads.

Full CGHM profile⁠

Full NHYM profile⁠

CGHM vs NHYM Holdings

How CGHM and NHYM differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile96.9%
Asset classFixed Income100%

Sector

No Sector split for CGHM and NHYM.

Country, concentration and asset class

Country by domicile

Country weights in CGHM and NHYM, widest gap first
Country	More in CGHMMore in NHYM	CGHM	NHYM
United States	NHYM +3.2 points	92.9%	96.1%
Puerto Rico	CGHM +3.2 points	7.1%	3.9%
Canada	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

CGHM6.5%
NHYM12.3%

Securities held

CGHM3,556
NHYM274

Asset class

CGHM: Fixed Income
NHYM: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. CGHM holds 3,556 securities, NHYM 274.

All CGHM holdings⁠All 268 NHYM 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.

CGHM vs NHYM Cost

Overpaying NHYM vs CGHM

$194

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

CGHM 0.34%
$6,932
NHYM 0.35%
$7,126

Amount$10,000

Years30 years

Cost over time

CGHM 0.34%
NHYM 0.35%
Overpaying

Year by year

Year	CGHM	NHYM	Overpaying
10	$616	$634	$18
20	$2,386	$2,454	$68
30	$6,932	$7,126	$194

Expense ratio

0.34%CGHM, cheaper
0.35%NHYM

CGHM0.34%NHYM0.35%

0.30%0.70%

Middle half of High-Yield Municipal Bonds funds
Median 0.39%

CGHM 5th cheapest of 18 funds

NHYM 6th cheapest of 18 funds

CGHM vs NHYM Dividends

Last 12 months to Nov 2, 2026

Yield (12M): CGHM 4.33%; NHYM 5.08%, better
Payout (12M): CGHM $1.07; NHYM $1.21
Last payment: CGHM $0.09; NHYM $0.09
Ex-dividend: CGHM Oct 30, 2026; NHYM Nov 2, 2026
Paid on: CGHM Nov 2, 2026; NHYM Pays Nov 3, 2026
Frequency: CGHM Monthly; NHYM Monthly

Distribution history

Per share, 2024 to 2026, same scale for both

CGHMMonthly · 28 paymentsAll CGHM payments⁠

NHYMMonthly · 21 paymentsAll NHYM payments⁠

CGHM vs NHYM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: CGHM 5.7%since Jul 2024NHYM 7.7%since Feb 2025
Return per unit of riskSharpe ratio, 3 years: CGHM −0.12since Jul 2024NHYM −0.28since Feb 2025
Worst fallMax drawdown, 5 years: CGHM −6.8%since Jun 2024NHYM −7.8%since Jan 2025
Market sensitivityBeta, 5 years: CGHM 0.20NHYM 0.17; Market = 1

CGHM and NHYM in the news

All news⁠

New ETFs
MacKay's new muni ETF matches Capital Group's credit rule and waives its fee to 0.34%
Oct 5, 2026CGHM

Popular comparisons

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CGHM vs NHYM

In short

Stated mandate

Why people hold it

Worth knowing

How CGHM and NHYM 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

MacKay's new muni ETF matches Capital Group's credit rule and waives its fee to 0.34%

How CGHM and NHYM differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings