CGHM vs THYM: Grades, Fees and Holdings Compared

Capital Group Municipal High-Income ETF

CGHMANYSE Arca

T. Rowe Price High Income Municipal ETF

THYMBNasdaq

Overlap

No data

Expense ratio

THYM −0.02pt a year

CGHM0.34%THYM0.32%

Avg volume · 30D

CGHM 182.6×the volume

CGHM865KTHYM4.74K

CGHM vs THYM Performance

Dec 31, 2025 – Nov 2, 2026

+0.6%CGHM+1.0%THYM

Expense ratio: CGHM 0.34%; THYM 0.32%, better
Fund size: CGHM $3.75B; THYM $34M
1Y total return: CGHM +1.2%; THYM No data
Yield (12M): CGHM 4.33%; THYM No data
Holdings: CGHM 3762; THYM 289
Avg volume (30D): CGHM 865K sh, better; THYM 4.74K sh
NAV per share: CGHM $24.72; THYM $48.61
52W range

ETF.net Grade

Pillar letters and Scores for CGHM, THYM, with each pillar’s weight
Pillar	CGHM	THYM
Cost30% weight	A78	A89Higher
Mission25% weight	A100Higher	A85
Risk15% weight	B61Higher	D37
Tradability15% weight	B69Higher	D33
Holdings10% weight	A96Higher	A74
Durability5% weight	B67Higher	F15

Rank among High-Yield Municipal Bonds funds

How we build Categories ›

Same Category. CGHM and THYM 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 THYM 7th 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 6BFTMHFranklin Municipal High Yield ETFScore 68
Rank 7BTHYMT. Rowe Price High Income Municipal ETFScore 66
Rank 8BHIMUIshares High Yield Muni Active ETFScore 65

Our read on each fund

ETF.net Research

CGHMACapital Group Municipal High-Income ETF

THYMBT. Rowe Price High Income Municipal ETF

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.

THYM The credit-risk end of T. Rowe Price's muni lineup: an active ETF chasing federally tax-exempt income in longer-term, low- to upper-medium quality bonds, terrain its muni desk has worked since 1985.

Stated mandate

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

THYM The fund seeks a high level of income exempt from federal income taxes.

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.

THYM Active by design: T. Rowe's municipal team picks longer-term, lower-rated bonds one credit at a time, rather than tracking an index.troweprice.com
The stated job is a high level of income exempt from federal income tax, with distributions declared monthly.
Fee is 0.32%, close to what the typical muni ETF charges, for a strategy that leans on analysts instead of an index.troweprice.com
It slots in as the credit sleeve of T. Rowe's muni ETF shelf, which already spans short, intermediate and long investment-grade maturities.troweprice.com

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.

THYM Index heavyweights are far cheaper: VTEB runs 0.03% and MUB 0.05%. Here the fee buys credit research, not broad market exposure.
Low- to upper-medium quality munis bring real default and liquidity risk, and longer maturities swing more when rates move.troweprice.com
A November 2025 launch, small and thinly traded so far, which can mean wider bid-ask spreads than the long-established index munis.

Full CGHM profile⁠

Full THYM profile⁠

CGHM vs THYM Holdings

How CGHM and THYM differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Asset classFixed Income100%
Countryby domicile100%

Sector

No Sector split for CGHM and THYM.

Country, concentration and asset class

Country by domicile

Country weights in CGHM and THYM, widest gap first
Country	More in CGHMMore in THYM	CGHM	THYM
United States	Same weight	92.9%	92.9%
Puerto Rico	Same weight	7.1%	7.1%
Canada	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

CGHM6.5%
THYM10.8%

Securities held

CGHM3,556
THYM289

Asset class

CGHM: Fixed Income
THYM: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. CGHM holds 3,556 securities, THYM 289.

All CGHM holdings⁠All THYM 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 THYM Cost

Overpaying CGHM vs THYM

$390

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

CGHM 0.34%
$6,932
THYM 0.32%
$6,542

Amount$10,000

Years30 years

Cost over time

CGHM 0.34%
THYM 0.32%
Overpaying

Year by year

Year	CGHM	THYM	Overpaying
10	$616	$580	$36
20	$2,386	$2,250	$136
30	$6,932	$6,542	$390

Expense ratio

0.34%CGHM
0.32%THYM, cheaper

THYM0.32%CGHM0.34%

0.30%0.70%

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

THYM 2nd cheapest of 18 funds

CGHM 5th cheapest of 18 funds

CGHM vs THYM Dividends

Last 12 months to Nov 2, 2026

Yield (12M): CGHM 4.33%; THYM No data
Payout (12M): CGHM $1.07; THYM No data
Last payment: CGHM $0.09; THYM $0.18
Ex-dividend: CGHM Oct 30, 2026; THYM Oct 27, 2026
Paid on: CGHM Nov 2, 2026; THYM Oct 29, 2026
Frequency: CGHM Monthly; THYM Monthly

Distribution history

Per share, 2024 to 2026, same scale for both

CGHMMonthly · 28 paymentsAll CGHM payments⁠

THYMMonthly · 11 paymentsAll THYM payments⁠

CGHM vs THYM 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 2024THYM No data
Return per unit of riskSharpe ratio, 3 years: CGHM −0.12since Jul 2024THYM No data
Worst fallMax drawdown, 5 years: CGHM −6.8%since Jun 2024THYM No data
Market sensitivityBeta, 5 years: CGHM 0.20THYM 0.18; Market = 1

CGHM and THYM 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

CGHMAvsHYDA
Capital Group Municipal High-Income ETF · VanEck High Yield Muni ETF
Expense ratio
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Category
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Expense ratio
0.32% · 0.32%
Category
CGHMAvsFMUBA
Capital Group Municipal High-Income ETF · Fidelity Municipal Bond Opportunities ETF
Expense ratio
0.34% · 0.30%
Category
THYMBvsFMUBA
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Expense ratio
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CGHMAvsHYMBA
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T. Rowe Price High Income Municipal ETF · State Street SPDR Nuveen ICE High Yield Municipal Bond ETF
Expense ratio
0.32% · 0.35%
Category

CGHM vs THYM

In short

Stated mandate

Why people hold it

Worth knowing

How CGHM and THYM 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 THYM differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings