Fixed Income

CGHY (Capital Group High Yield Bond ETF)

A deeply researched, active approach to high-yield investing. Seeks to generate income and, secondarily, capital appreciation from a well-diversified portfolio of high-yield bonds, with an emphasis on relative value credit selection to generate alpha.

Read important investment disclosures
  • Morningstar Categorytooltip: In an effort to classify funds by what they own, as well as by their prospectus objectives and styles, Morningstar developed Morningstar Categories. While the prospectus objective identifies a fund's investment goals based on the wording in the fund prospectus, the Morningstar Category identifies funds based on their actual investment styles as measured by their underlying portfolio holdings (portfolio and other statistics over the past three years).
    High Yield Bond
  • EXPENSE RATIO (GROSS/NET %)
    0.39/0.39
  • 30-DAY SEC YIELD (GROSS/NET %)tooltip: The 30-day SEC yield reflects the rate at which the fund is earning income on its current portfolio of securities calculated according to the standardized SEC formula; when applicable, it reflects the maximum sales charge. If shown, a net yield reflects fee waivers and/or expense reimbursements in effect during the period. Without waivers and/or reimbursements, the yield would be reduced. Gross yield does not adjust for any fee waivers and/or expense reimbursements in effect.
    5.73/5.73
    As of 8/31/26
  • YTD RETURNS (NAV/MARKET PRICE %)
    -0.05/-0.18
    As of 9/30/26
  • Inception date
    6/24/25
  • Fund Assets ($M)
    $133.0
    As of 9/30/26
  • Yield to worst (%)
    7.2
    As of 9/30/26
  • Effective duration
    3.6
    As of 9/30/26
  • Primary benchmark
    Bloomberg U.S. Corporate High Yield 2% Issuer Capped Indextooltip: Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index covers the universe of fixed-rate, non-investment-grade debt. The index limits the maximum exposure of any one issuer to 2%. This index is unmanaged, and its results include reinvested distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes.

Overview

Description

Objective
The fund’s investment objective is to provide a high level of current income. Its secondary investment objective is capital appreciation.
Types of investments
Invests at least 80% of its assets in higher yielding and generally lower quality bonds and other debt securities (rated Ba1/BB+ or below) or unrated debt securities that are determined by the fund’s investment adviser to be of equivalent quality, including corporate loan obligations.
Distinguishing characteristics
Seeks to offer investors opportunities for high income by providing exposure to a well-researched, broadly diversified portfolio of debt securities, emphasizing higher yielding and lower rated bonds.
Holdings outside the U.S.
May invest a portion of its assets in securities tied economically to countries outside the United States, including in emerging markets.
Maturity
May invest in debt securities of any maturity or duration.

Key facts

Fund inception
6/24/25
Fund assets (millions)
$133.0
As of 9/30/26 (updated daily)
Exchange
NYSE Arca, Inc.
Issuers
199
Holdings as of 8/31/26 (updated monthly)
mthDividendsPaid
Regular dividends paid
Monthly
NAV
$24.37
As of 9/30/26 (updated daily)
Market Price
$24.38
As of 9/30/26 (updated daily)
portfolioTurnover
One-year turnover (%)tooltip: Portfolio turnover is the portion of a portfolio's holdings sold and replaced with new securities annually, usually expressed as a percentage of the portfolio's total assets. For example, a portfolio with a turnover of 25% holds assets for an average of about four years, while a portfolio with a turnover of 100% holds assets for one year.
36
Fiscal year-end
December
Prospectus date
3/1/26
NF_ETFLogic_premium,NF_ETFLogic_discount
Premium/discounttooltip: The percentage amount by which an ETF's selling or purchase market price is either greater than (premium) or less than (discount) its net asset value (NAV).
0.06%
As of 9/30/26 (updated daily)
NF_ETFLogic_medianBid
30-day median bid/ask spreadtooltip: The median bid-ask spread is calculated by identifying the national best bid and national best offer ("NBBO") for each fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage rounded to the nearest hundredth.
0.12%
As of 9/30/26 (updated daily)
view premium/discount details

Portfolio managers

Tom Chow
Principal Investment Officer
37 years of investment industry experience
11 years with Capital Group
Shannon Ward
33 years of investment industry experience
9 years with Capital Group
Andy Moth
22 years of investment industry experience
9 years with Capital Group

A distinctive investment approach

The Capital System is designed to deliver superior investment results. Across asset classes, we believe in collaborative research to yield deeper insights, diverse perspectives from multiple portfolio managers and analysts, and a long-term view to decision-making.

Returns

returns

Investment results

Total returns for periods ended 8/31/26 (%)
  • ●NAV
  • ●Market Price
  • ●Index
Returns table
ETFDaily YTD1M3MYTD1YLifetime
Index data refers to the Bloomberg U.S. Corporate High Yield 2% Issuer Capped Indextooltip: Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index covers the universe of fixed-rate, non-investment-grade debt. The index limits the maximum exposure of any one issuer to 2%. This index is unmanaged, and its results include reinvested distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes..
Daily YTD as of 9/30/26. Returns greater than one year are annualized.
Fund inception: 6/24/25. Index lifetime is based on inception date of the fund.

Prices & distributions

As of 9/30/26
  • nav ($)
    $24.37
  • Price change ($)
    $-0.02
  • Price change (%)
    -0.07
  • market price ($)
    $24.38
  • Price change ($)
    $0.00
  • Price change (%)
    0.00
Prices distributions table
YTD dividends subtotal ($)0.95
YTD cap gains subtotal ($)0.00
YTD total distributions ($)0.95

Yield

As of 8/31/26 (updated monthly)
12-month distribution rates (at NAV %)tooltip: The income per share paid by the fund over the past 12 months to an investor from dividends (including any special dividends). The distribution rate is expressed as a percentage of the current price.5.48
30-day SEC yield (gross/net %)tooltip: The 30-day SEC yield reflects the rate at which the fund is earning income on its current portfolio of securities calculated according to the standardized SEC formula; when applicable, it reflects the maximum sales charge. If shown, a net yield reflects fee waivers and/or expense reimbursements in effect during the period. Without waivers and/or reimbursements, the yield would be reduced. Gross yield does not adjust for any fee waivers and/or expense reimbursements in effect.5.73/5.73

Portfolio composition

assetMix

Asset mix

As of 8/31/26 (updated monthly, %)
Asset Mix
U.S. Equities
0.8
Non-U.S. Equities
0.0
U.S. Bonds
83.7
Non-U.S. Bonds
10.6
Cash, Equivalents & Other
4.8
U.S. Equities
0.8
Non-U.S. Equities
-
U.S Bonds
83.7
Non-U.S. Bonds
10.6
Cash, Equivalents & Other
4.8

Morningstar Style Box™

As of 10/1/26 (updated monthly)

Limited Sensitivity

Low Quality

INSIGHTS ON THE MORNINGSTAR STYLE BOX

Key statistics

% of net assets as of 9/30/26 (updated daily)
Key statistics
CGHY
INDEX
Yield-to-worsttooltip: Lower of Yield to Maturity or the bond's total return if put or call options are exercised prior to maturity but no default occurs. (%)
7.28.2
Yield-to-maturitytooltip: A bond's total return if held to maturity and no default occurs or options are exercised. Assumes coupons are paid on time and accounts for their present value. Assumes principal is returned at maturity. (%)
7.38.4
Average coupontooltip: The average coupon is the weighted average coupon rate of all the bond holdings. (%)
6.26.8
Effective durationtooltip: Effective duration is a duration calculation for bonds that takes into account that expected cash flows will fluctuate as interest rates change. (years)
3.63.3
Spread durationtooltip: A measure of fixed income securities' sensitivity to spread movement. (years)
3.63.3
Option adjusted spreadtooltip: Option-adjusted spread is a yield-spread calculation used to value securities with embedded options. (bps)
200.5297.6
Duration times spreadtooltip: A measure of fixed income securities' spread exposure, taking into account both spread duration and credit spread exposure. (bps)
729.4949.7
Index data refers to the Bloomberg U.S. Corporate High Yield 2% Issuer Capped Indextooltip: Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index covers the universe of fixed-rate, non-investment-grade debt. The index limits the maximum exposure of any one issuer to 2%. This index is unmanaged, and its results include reinvested distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes..

Top credit issuers

As of 8/31/26 (updated monthly, %)
CGHY
Index
VIEW DAILY HOLDINGS
VIEW QUARTERLY HOLDINGS
VIEW DAILY HOLDINGS
VIEW QUARTERLY HOLDINGS
CGHYIndex
Venture Global Partners II2.8%1.8%
Charter Communications2.5%1.7%
Nissan Motor2.1%0.8%
Albertsons Companies2.1%0.5%
TransDigm Group2.0%1.4%
Medline1.6%0.2%
PG&E1.5%0.3%
Viasat1.4%0.2%
Howard Hughes Holdings1.4%0.2%
Carnival Corporation1.4%—
Index data refers to the Bloomberg U.S. Corporate High Yield 2% Issuer Capped Indextooltip: Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index covers the universe of fixed-rate, non-investment-grade debt. The index limits the maximum exposure of any one issuer to 2%. This index is unmanaged, and its results include reinvested distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes..

Portfolio exposures

As of 8/31/26 (updated monthly)
Fixed Income sector breakdown
Market value (%)
Sectors and top holdingsCGHYINDEX
Credit94.3100.0
Treasuries and agencies0.0—
Other0.8—
Cash & equivalents2.9—
CDXtooltip: The credit default swap index (CDX) is a benchmark financial instrument made up of credit default swaps (CDS) that have been issued by North American or emerging markets companies. Credit default swaps act like insurance policies offering a buyer protection in case of the borrower's default. & TRStooltip: A total return swap (TRS) is a contract between a total return payer and total return receiver. The payer usually pays the total return of agreed security to the receiver and receives a fixed/floating rate payment in exchange. The agreed (or referenced) security can be a bond, index, equity, loan, or commodity. offset2.0—
Index data refers to the Bloomberg U.S. Corporate High Yield 2% Issuer Capped Indextooltip: Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index covers the universe of fixed-rate, non-investment-grade debt. The index limits the maximum exposure of any one issuer to 2%. This index is unmanaged, and its results include reinvested distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes..

Fees & expenses

Expense ratio

As of the most recent prospectus
CGHY (gross/net %)
0.39/0.39

Resources