Purchase Restrictions: Shares of the fund are available for purchase only by or on behalf of separately managed account clients where the fund’s adviser or an affiliate of the adviser (each a “Managed Account Adviser”) has an agreement with the managed account program sponsor (the “Program Sponsor”), or directly with the client, to provide management or advisory services to the managed account or to the Program Sponsor for its use in managing such account. Shares of the fund are not generally available to the public.
Bloomberg U.S. Aggregate Indextooltip: Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. This index is unmanaged, and its results include reinvested dividends and|or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes.
The fund’s investment objective is to provide as high a level of current income as is consistent with the preservation of capital.
Types of investments
Primarily invests in corporate debt securities, U.S. and other government securities, mortgage-related securities and cash.
Distinguishing characteristics
Taking a broadly diversified, high-quality approach, this core bond fund has the ability to invest in every sector of the bond market and pursue multiple sources of active return, with a limited percentage of below-investment-grade holdings (BB/Ba and below). This approach may help diversify equity risk in a portfolio. The fund draws on our experience in managing U.S. core bonds since 1973 and a 90-year heritage of investing in U.S. markets.
Portfolio restrictions
The fund generally invests at least 80% of its assets in bonds, including corporate bonds, U.S. government securities, and money market instruments. It is the fund’s current practice to limit its exposure to debt securities rated Ba1 and BB+ or below to no more than 15% of its assets.
Holdings outside the U.S.
May invest in fixed-income securities of corporations and government entities outside the United States.
Key facts
Fund inception
9/13/24
Issuers (#)
221
As of 7/31/26 (updated monthly)
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.5
453.0
mthDividendsPaid
Regular dividends paid 4
Monthly
Capital gains paid 4
June, Dec.
Fiscal year-end
December
Prospectus date
3/1/26
CUSIP
14021F 10 2
Fund number
40150
Portfolio managers7
Years with Capital Group
Years of investment industry experience
David Hoag, 34 years with Capital Group, 38 years of industry experience
34
38
John Queen, 24 years with Capital Group, 36 years of industry experience
24
36
Fergus MacDonald, 22 years with Capital Group, 33 years of industry experience
22
33
Pramod Atluri, 10 years with Capital Group, 22 years of industry experience
10
22
Principal Investment Officer
Chit Purani, 4 years with Capital Group, 22 years of industry experience
4
22
Portfolio managers7
Years with Capital Group
Years of investment industry experience
David Hoag, 34 years with Capital Group, 38 years of industry experience
34
38
John Queen, 24 years with Capital Group, 36 years of industry experience
24
36
Fergus MacDonald, 22 years with Capital Group, 33 years of industry experience
22
33
Pramod Atluri, 10 years with Capital Group, 22 years of industry experience
10
22
Principal Investment Officer
Chit Purani, 4 years with Capital Group, 22 years of industry experience
4
22
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.
Index data refers to the Bloomberg U.S. Aggregate Indextooltip: Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. This index is unmanaged, and its results include reinvested dividends and|or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes..
Daily YTD as of 8/31/26.
Fund inception: 9/13/24. The index lifetime return is based on the inception date of the fund.
Returns greater than one year are annualized.
Yield
As of 7/31/26 (updated monthly, %)
Yield
12-month distribution rate (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.6
5.08
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.
Yield to worst (%)tooltip: 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.
5.7
5.0
BSNY_YTWSEC
Yield to maturity (%)tooltip: 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.
5.7
5.0
BSNY_YTWSEC
Average coupon (%)tooltip: The average coupon is the weighted average coupon rate of all the bond holdings.
4.4
3.7
Effective duration (years)tooltip: Effective duration is a duration calculation for bonds that takes into account that expected cash flows will fluctuate as interest rates change.
4.6
5.7
Spread duration (years)tooltip: A measure of fixed income securities' sensitivity to spread movement.
4.1
3.2
Option adjusted spread (bps)tooltip: Option-adjusted spread is a yield-spread calculation used to value securities with embedded options.
99
27
Duration times spread (bps)tooltip: A measure of fixed income securities' spread exposure, taking into account both spread duration and credit spread exposure.
465
189
Index data refers to the Bloomberg U.S. Aggregate Indextooltip: Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. This index is unmanaged, and its results include reinvested dividends and|or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes..
Portfolio exposures
As of 7/31/26 (updated monthly)
Fixed Income sector breakdown
Market value (%)
Contribution to duration (years)
Sectors
CBCFX
INDEX
CBCFX
INDEX
Government
5.8
46.9
1.3
2.7
Credit
65.9
26.6
2.7
1.7
Securitized
17.5
25.3
0.1
1.3
Emerging markets
5.2
1.2
0.3
0.1
High yield
4.2
0.0
0.1
0.0
Other11
0.0
0.0
0.0
0.0
Cash & equivalents
13.0
—
0.0
—
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. Offset12
-11.5
—
—
—
Index data refers to the Bloomberg U.S. Aggregate Indextooltip: Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. This index is unmanaged, and its results include reinvested dividends and|or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes..
Data represents the fixed income portion of the portfoliotooltip: .
Figures shown are past results and are not predictive of results in future periods. Current and future results may be lower or higher than those shown. Investing for short periods makes losses more likely.
Prices and returns will vary, so investors may lose money.
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses.
This and other important information is contained in the mutual fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.
Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard & Poor's, Moody's and/or Fitch, as an indication of an issuer's creditworthiness.
Unless otherwise noted below, if agency ratings differ, a security will be considered to have received the highest of those ratings, consistent with applicable investment policies. Securities in the Unrated category have not been rated by any of the rating agencies referenced above; however, the investment adviser performs its own credit analysis and assigns comparable ratings that are used for compliance with applicable investment policies.
The use of derivatives involves a variety of risks, which may be different from, or greater than, the risks associated with investing in traditional securities, such as stocks and bonds.
Lower rated bonds are subject to greater fluctuations in value and risk of loss of income and principal than higher rated bonds.
The return of principal for bond portfolios and portfolios with significant underlying bond holdings is not guaranteed. Investments are subject to the same interest rate, inflation and credit risks associated with the underlying bond holdings.
Investing outside the United States involves risks, such as currency fluctuations, periods of illiquidity and price volatility. These risks may be heightened in connection with investments in developing countries.
Nondiversified funds have the ability to invest a larger percentage of assets in the securities of a smaller number of issuers than a diversified fund. As a result, poor results by a single issuer could adversely affect fund results more than if the fund invested in a larger number of issuers. See the applicable prospectus for details.
There have been periods when the results lagged the index(es) and/or average(s).
The indexes are unmanaged and, therefore, have no expenses. Investors cannot invest directly in an index.
Source: Bloomberg Index Services Limited. BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively "Bloomberg"). Bloomberg or Bloomberg's licensors own all proprietary rights in the Bloomberg Indices. Neither Bloomberg nor Bloomberg's licensors approves or endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
Portfolios are managed, so holdings will change.
Certain fixed income and/or cash and equivalents holdings may be held through mutual funds managed by the investment adviser or its affiliates that are not offered to the public.
Totals may not reconcile due to rounding and/or cash flows.
Investment results assume all distributions are reinvested and reflect applicable fees and expenses.
When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower and net expenses higher.
For mutual funds, read details about how waivers and/or reimbursements affect the results for each fund.
For the Capital Group Core Bond Completion Fund share class(es) listed below, the investment adviser has agreed to reimburse a portion of fund expenses, and the transfer agent is currently reimbursing a portion of its fee through the date(s) listed below, without which results would have been lower and net expenses higher.
Class M shares (expiration: 3/1/2027)
The investment adviser or transfer agent may elect at its discretion to extend, modify or terminate the reimbursement as of any noted expiration date. Please refer to the fund's most recent prospectus for details.
1.
YTD (year-to-date return): For the period from January 1 of the current year to the date shown or from inception date if first offered after January 1 of the current year.
2.
When applicable, returns for less than one year are not annualized, but calculated as cumulative total returns.
3.
Expense ratios are as of each fund's prospectus/characteristics statement, as applicable, available at the time of publication.
For the Capital Group Core Bond Completion Fund share class(es) listed below, expense ratios are estimated.
Class M
4.
The months indicated for dividends and capital gains paid represent the anticipated current year ex-dividend date schedule for all share classes.
5.
Portfolio turnover is as of the most recent prospectus/characteristics statement, as applicable.
6.
The distribution rate reflects the fund's past dividends paid to shareholders and may differ from the fund's SEC yield which reflects the rate at which the fund is earning income on its current portfolio of securities. The distribution rate reflects fee waivers and/or expense reimbursements in effect during the period. Without waivers and/or reimbursements, it would be reduced.
7.
Reflects current team at the time of publication. Years of experience in investment industry and Capital Group are as of the most recent year end.
8.
Includes cash, short‑term securities, other assets less liabilities, and certain accruals. It may also include investments in money market or similar funds managed by the investment adviser or its affiliates that are not offered to the public.
9.
Read more information about Morningstar Style Box methodology.
The model for the fixed-income style box is based on the two pillars of fixed-income performance: interest-rate sensitivity and credit quality. The three interest sensitivity groups are limited, moderate and extensive and the three credit quality groups are high, medium and low. These groupings display a portfolio's effective duration and third party credit ratings to provide an overall representation of the fund's risk orientation given the sensitivity to interest rate and credit rating of bonds in the portfolio.
10.
Portfolio market value reflect risk notional values. Risk notional is the value of the underlying asset at the current market price for a derivatives trade.
11.
Sector breakdown "Other" may include equities, rights, warrants, preferreds, convertibles, forwards, the market value of certain derivative instruments and other uncategorized securities.
12.
The offset represents positions within the portfolio used to offset risk and is -1 multiplied by the total of all notional values.
13.
Asset-backed securities (ABS) "Other" may include collateralized home obligations, home equity, student loans and other uncategorized securities.
14.
Rating exposure ”Other” may include equities, rights, warrants, preferreds, convertibles, forwards and FX (foreign exchange) options.
15.
Source for Morningstar expense ratio comparison: Morningstar, based on Morningstar Intermediate-Term Bond No Load median funds' most recent fiscal year-ends available as of the most recent quarter-end.
Use of this website is intended for U.S. residents only. Use of this website and materials is also subject to approval by your home office.
Completion fund shares are available for purchase only by or on behalf of SMA clients in the applicable SMA strategy. The fund may, in its sole discretion, redeem or work with a financial intermediary as necessary to cause the redemption of all the shares of any shareholder who does not meet this criteria. Reference the applicable completion fund prospectus for additional information and disclosure.
Capital Client Group, Inc.
This content, developed by Capital Group, home of American Funds, should not be used as a primary basis for investment decisions and is not intended to serve as impartial investment or fiduciary advice.