CGMS vs XRLX: Grades, Fees and Holdings Compared

Capital Group U.S. Multi-Sector Income ETF

CGMSANYSE Arca

FundX Investment Conservative ETF

XRLXCNYSE Arca

Overlap

0.0%by weight

Expense ratio

CGMS −0.81pt a year

CGMS0.39%XRLX1.20%

Avg volume · 30D

CGMS 730.0×the volume

CGMS1.2MXRLX1.64K

3Y return · a year

XRLX +5.2pt

CGMS+8.0%XRLX+13.2%

CGMS vs XRLX Performance

Oct 31, 2025 – Oct 30, 2026

+1.6%CGMS+4.7%XRLX

Expense ratio: CGMS 0.39%, better; XRLX 1.20%
Fund size: CGMS $5.61B; XRLX $45M
1Y total return: CGMS +1.6%; XRLX +4.7%, better
Yield (12M): CGMS 6.69%, better; XRLX 2.66%
Holdings: CGMS 1548; XRLX 20
Avg volume (30D): CGMS 1.2M sh, better; XRLX 1.64K sh
NAV per share: CGMS $26.40; XRLX $47.90
52W range

ETF.net Grade

Pillar letters and Scores for CGMS, XRLX, with each pillar’s weight
Pillar	CGMS	XRLX
Cost30% weight	A75Higher	D30
Mission25% weight	A82Higher	A81
Risk15% weight	B68Higher	D35
Tradability15% weight	A74Higher	C54
Holdings10% weight	A84Higher	B63
Durability5% weight	A72Higher	B61

Rank among Conservative Allocation funds

How we build Categories ›

Same Category. CGMS and XRLX 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 XRLX 4th 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 4CXRLXFundX Investment Conservative ETFScore 51
Rank 5CTHRVProspera Income ETFScore 46

Our read on each fund

ETF.net Research

CGMSACapital Group U.S. Multi-Sector Income ETF

XRLXCFundX Investment Conservative ETF

In short

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.

XRLX Most conservative allocation funds are index blends on autopilot. XRLX is actively managed: a fund of funds that ranks other funds on recent returns, buys the leaders and sells them when they fade.

Stated mandate

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

XRLX The Fund seeks long-term capital appreciation and may provide a low level of current income intended to reduce portfolio volatility.

Why people hold it

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.

XRLX The Upgrading discipline has a long paper trail: FundX has published its no-load fund newsletter since 1976, and this conservative version has run inside a fund since 2002.sec.gov
No stock picking. It buys other funds, so one ticker gets you a multi-manager mix of stock and bond funds rather than a single manager's call.sec.gov sec.gov 2
Built around a plainly stated mandate: long-term capital appreciation plus a low level of current income meant to reduce portfolio volatility.
Sits in the upper half of a small conservative-income peer group.

Worth knowing

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.

XRLX The fee is 1.20% a year, above the category median and well above plain multi-sector peers like CGMS at 0.39%. Active fund selection is what the premium buys.
Fund-of-funds math: shareholders also bear a share of the underlying funds' fees, which appear as their own line in the fee table.sec.gov
It is a small fund that trades lightly, so bid-ask spreads can run wider and larger orders are more sensitive to execution.

Full CGMS profile⁠

Full XRLX profile⁠

CGMS vs XRLX Holdings

How CGMS and XRLX differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of CGMS and 0.0% of XRLX.

Level by level

Holdings0 in both0.0%
Sector11 Sectors12.1%
Countryby domicile92.0%

Sector

Sector weights in CGMS and XRLX, widest gap first
Sector	More in CGMSMore in XRLX	CGMS	XRLX
Real Estate	CGMS +79.2 points	81.1%	1.9%
Technology	XRLX +34.8 points	7.0%	41.8%
Financials	XRLX +9.9 points	0.0%	9.9%
Industrials	XRLX +9.8 points	0.0%	9.8%
Communication	XRLX +9.1 points	0.0%	9.1%
Health Care	XRLX +8.8 points	0.0%	8.8%
Energy	CGMS +8.7 points	12.0%	3.3%
Consumer Discretionary	XRLX +8.6 points	0.0%	8.6%
Consumer Staples	XRLX +3.5 points	0.0%	3.5%
Materials	XRLX +2.0 points	0.0%	2.0%
Utilities	XRLX +1.3 points	0.0%	1.3%

Country, concentration and asset class

Country by domicile

Country weights in CGMS and XRLX, widest gap first
Country	More in CGMSMore in XRLX	CGMS	XRLX
Cayman Islands	CGMS +3.2 points	3.4%	0.2%
United States	XRLX +3.0 points	87.6%	90.6%
Luxembourg	CGMS +1.9 points	1.9%	0.0%
United Kingdom	XRLX +0.9 points	0.9%	1.8%
Bermuda	CGMS +0.6 points	0.7%	0.1%
Australia	XRLX +0.6 points	0.1%	0.7%
Other countries (36)	XRLX +1.2 points	5.4%	6.6%

Concentration

Weight in the 10 largest Holdings

CGMS8.6%
XRLX64.2%

Securities held

CGMS1,535
XRLX19

Asset class

CGMS: Fixed Income
XRLX: Multi-Asset

Holdings

Only in CGMS1,535
In both0
Only in XRLX19

Only in CGMS

1,535 securities, 95.9% of CGMS by weight

Us Treasury N/B 05/46 50.94%
Us Treasury N/B 09/28 4.750.59%
Rd Michigan Prop Owner I Sr Secured 144A 03/45 7.50.55%
Bluemountain Clo Ltd Bluem 2018 23A A1R2 144A0.54%
Waymo Llc Unitranche Term Loan0.49%
Switch Abs Issuer, Llc Swtch 2026 3A A21 144A0.42%
Carlyle Global Market Strategi Cgms 2018 4A A1R2 144A0.41%
Bank of America Corp Sr Unsecured 02/37 Var0.40%
Meta Platforms Inc Sr Unsecured 08/52 4.450.40%
Peraton Corp Term Loan B0.38%
Cloud Software Grp Llc Secured 144A 09/29 90.37%
Avant Credit Card Master Trust Avcct 2026 1A A 144A0.35%
Connect Finco Sarl/Conne Sr Secured 144A 09/29 90.35%
Charter Comm Opt Llc/Cap Sr Secured 04/51 3.70.34%
Carlyle Global Market Strategi Cgms 2018 4A BR2 144A0.33%
Mpt Oper Partnersp/Finl Sr Secured 144A 02/32 8.50.32%
Jefferies Fin Group Inc Sr Unsecured 02/36 5.50.31%
Mars Inc Sr Unsecured 144A 03/35 5.20.31%
Compass Group Diversifie Company Guar 144A 04/29 5.250.31%
Ares Strategic Income Fu Sr Unsecured 04/31 5.550.31%
Ford Motor Credit Co Llc Sr Unsecured 02/35 6.50.31%
Kennedy Wilson Inc Company Guar 144A 06/31 70.31%
Navient Corp Sr Unsecured 08/33 5.6250.30%
Transdigm Inc Company Guar 144A 05/33 6.3750.30%
Space Exploration Tech Sr Unsecured 144A 07/36 5.8750.30%
Centene Corp Sr Unsecured 03/31 2.50.30%
Jane Street Grp/Jsg Fin Sr Secured 144A 08/31 7.2940.29%
Nissan Motor Co Sr Unsecured 144A 07/35 8.1250.29%
Amsr Trust Amsr 2026 SFR3 A 144A0.29%
Snap Inc Company Guar 144A 03/33 6.8750.29%
Coinbase Global Inc Company Guar 144A 10/31 3.6250.28%
Freddie Mac Stacr Stacr 2020 DNA5 B2 144A0.28%
Coty/Hfc Prestige/Int Us Company Guar 144A 01/31 5.60.28%
Sirius Xm Radio Llc Company Guar 144A 09/31 3.8750.27%
Jane Street Grp/Jsg Fin Sr Secured 144A 08/33 7.6860.27%
Gray Media Inc Secured 144A 07/32 9.6250.27%
Service Properties Trust Sr Unsecured 02/30 4.3750.27%
B+g Foods Inc Sr Secured 144A 09/28 80.27%
Equipmentshare Eqs 2025 2M A 144A0.27%
Nexstar Media Inc Sr Secured 144A 09/33 6.50.26%
Onemain Finance Corp Company Guar 09/32 7.1250.26%
Blue Owl Credit Income Sr Unsecured 144A 10/31 6.550.26%
Bx Trust Bx 2026 VLT9 B 144A0.26%
Ion Plat Fin Us/Sarl Sr Secured 144A 05/29 8.750.25%
Lyb Int Finance Iii Company Guar 01/36 5.8750.25%
Bx Trust Bx 2026 VLT10 B 144A0.25%
Ggp Trust Ggp 2026 BRK3 A 144A0.25%
Celanese Us Holdings Llc Company Guar 11/33 7.70.24%
Oracle Corp Sr Unsecured 02/56 6.70.24%
JPMorgan Chase & Co Subordinated 07/41 Var0.24%

Only in XRLX

19 securities, 99.9% of XRLX by weight

Vanguard Morningstar Growth ETF9.39%
iShares Russell 1000 Value ETF8.59%
PIMCO 0-5 Year High Yield Corporate Bond Exchange-Traded Fund6.70%
iShares Core 60/40 Balanced Allocation ETF6.52%
iShares MSCI USA Value Factor ETF6.37%
Invesco S&P 500 Momentum ETF5.90%
Invesco S&P 500 Pure Growth ETF5.77%
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund5.04%
iShares Treasury Floating Rate Bond ETF4.97%
Janus Henderson AAA CLO ETF4.95%
iShares Global 100 ETF4.83%
Wisdomtree US Quality Growth Fund4.83%
VanEck IG Floating Rate ETF4.78%
iShares Core 30/70 Conservative Allocation ETF4.75%
NYLIM Merger Arbitrage ETF4.75%
Janus Henderson B-BBB CLO ETF4.70%
iShares MSCI USA Momentum Factor ETF4.17%
Vanguard Russell 1000 Value2.04%
First American Government Obligations Fund 12/01/20310.92%

Weight gaps

CGMS and XRLX share no securities.

All 1,246 CGMS holdings⁠All XRLX 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.

CGMS vs XRLX Cost

Overpaying XRLX vs CGMS

$13,953

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

CGMS 0.39%
$7,898
XRLX 1.20%
$21,851

Amount$10,000

Years30 years

Cost over time

CGMS 0.39%
XRLX 1.20%
Overpaying

Year by year

Year	CGMS	XRLX	Overpaying
10	$705	$2,098	$1,393
20	$2,725	$7,814	$5,089
30	$7,898	$21,851	$13,953

Expense ratio

0.39%CGMS, cheaper
1.20%XRLX

CGMS0.39%XRLX1.20%

0.15%1.80%

Middle half of Conservative Allocation funds
Median 0.67%

CGMS 2nd cheapest of 7 funds

XRLX 5th cheapest of 7 funds

CGMS vs XRLX Dividends

Last 12 months to Oct 30, 2026

Yield (12M): CGMS 6.69%, better; XRLX 2.66%
Payout (12M): CGMS $1.77; XRLX $1.28
Last payment: CGMS $0.12; XRLX $1.28
Ex-dividend: CGMS Oct 30, 2026; XRLX Dec 31, 2025
Paid on: CGMS Pays Nov 2, 2026; XRLX Jan 2, 2026
Frequency: CGMS Monthly; XRLX Annual

Distribution history

Per share, 2023 to 2026, same scale for both

CGMSMonthly · 46 paymentsAll CGMS payments⁠

XRLXAnnual · 3 paymentsAll XRLX payments⁠

CGMS vs XRLX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: CGMS 4.7%, betterXRLX 9.0%
Return per unit of riskSharpe ratio, 3 years: CGMS 0.71XRLX 0.94, better
Worst fallMax drawdown, 5 years: CGMS −4.1%since Oct 2022XRLX −15.4%since Oct 2023
Market sensitivityBeta, 5 years: CGMS 0.72XRLX 0.83; Market = 1

CGMS and XRLX 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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CGMS vs XRLX

In short

Stated mandate

Why people hold it

Worth knowing

How CGMS and XRLX differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CGMS

Only in XRLX

Weight gaps

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 CGMS and XRLX differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CGMS

Only in XRLX

Weight gaps