Investment Fund

Share Class
Purchase Restrictions: Class 529-F-1 share funds are available only for CollegeAmerica accounts sold through Registered Investment Advisors.

Summary

Internal Prompt
A broadly diversified approach to global bonds. Invests primarily in sovereign and corporate bonds in more than 60 developed and developing markets. It provides exposure to high-yielding bond markets and currencies outside the U.S., adding an extra layer of diversification from U.S. investment-grade (BBB/Baa and above) bonds. This approach supports the strategy’s managers with geographic flexibility and the ability to navigate different markets.
Price at NAV $15.65 as of 4/18/2024 (updated daily)
Fund Assets (millions) $9,604.5
Portfolio Managers
3
Expense Ratio
(Gross/Net %)
1.09 / 1.09%

Internal Prompt

Returns at NAV

Returns with Sales Charge

Asset Mix

U.S. Equities0.0%
Non-U.S. Equities0.0%
U.S. Bonds39.4%
Non-U.S. Bonds55.0%
Cash & Equivalents
5.6%
As of 3/31/2024 (updated monthly)

Growth of 10K

High & Low Prices

Fund Statistics

6.4 years
Effective Duration
4.5%
Average Yield
to Worst
4%
Average Coupon
% of net assets as of 3/31/2024 (updated monthly)

Morningstar Style BoxTM— Fixed-Income

Medium Quality
Extensive Interest-Rate Sensitivity
Morningstar data as of 3/31/24 (updated quarterly)

Description

Fund Objective
The fund's investment objective is to provide you, over the long term, with a high level of total return consistent with prudent investment management. Total return comprises the income generated by the fund and the changes in the market value of the fund's investments.
Distinguishing Characteristics
This broadly diversified global bond strategy invests primarily in sovereign and corporate bonds in more than 60 developed and developing markets. The strategy has a conservative investment philosophy, investing in a portfolio of global bonds with moderate exposure to emerging markets. It also provides exposure to high-yield bond markets and currencies outside the U.S., adding an extra layer of diversification from U.S. investment-grade (BBB/Baa and above) bonds. One of the earliest investors in the global bond markets and emerging markets debt, this is our most research-intensive bond strategy; with a team of more than 100 all over the world, it takes full advantage of our global presence and insights.
Types of Investments
Primarily government/agency, corporate and mortgage- and asset-backed bonds.
Portfolio Restrictions
The fund may invest up to 25% of assets in bonds rated below investment grade (BB/Ba and below, or unrated, but determined by the fund’s investment adviser to be of equivalent quality) at the time of purchase, including high-yield corporate bonds or those issued by developing country governments and companies.

Fund Facts

Fund Inception 8/04/1987
Fund Assets (millions)
As of 2/29/2024
$9,604.5
Companies/Issuers
Holdings are as of 3/31/2024 (updated monthly).
676+
Shareholder Accounts
Shareholder accounts are as of 3/31/2024
1
Regular Dividends Paid
Mar, Jun, Sep, Dec
Minimum Initial Investment $250
Capital Gains Paid
Jun, Dec
Portfolio Turnover (2023) 242%
Fiscal Year-End Dec
Prospectus Date 03/01/2024
CUSIP 140541 88 9
Fund Number 1431

Returns

Internal Prompt

Month-End Returns as of 3/31/24

Quarter-End Returns as of 3/31/24

Internal Prompt

Volatility & Return

Read important investment disclosures

Fixed-Income

For Class 529-F-1 Shares, this chart tracks the 10-year standard deviation
and 10-year annualized return of the fixed income funds
CCWFX
Bloomberg Global Aggregate Index
Other AF Funds
Standard Deviation as of 03/31/2024 (updated monthly) . Annualized return as of 03/31/2024 (updated monthly) .
VIEW LARGER CHART
Internal Prompt

Yield

12-month
Distribution Rates
30-day SEC Yield
Fund at NAV 2.87% 4.17%
Fund at MOP N/A N/A
As of 3/31/2024 (updated monthly)

Portfolio Management

Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
Philip Chitty 5 20 29
Andrew A. Cormack 5 5 19
Thomas Reithinger 1 10 13
A boldface number indicates that years of experience with Capital Group is equal to years of experience with investment industry.

Ratings & Risk

Morningstar Rating TM


Overall Morningstar RatingTM
Funds rated(168)
3-yr. Morningstar RatingTM
(168 funds rated)
5-yr. Morningstar RatingTM
(149 funds rated)
10-yr. Morningstar RatingTM
(117 funds rated)
Overall Morningstar Risk Average
HIGH
LOW
Category Global Bond
Ratings are based on risk-adjusted returns as of 3/31/2024 (updated monthly).

Risk Measures

Fund
Standard Deviation
6.85
Sharpe Ratio
-0.19
For the 10 Years ending 3/31/24 (updated monthly).
American Funds
Benchmark
Morningstar
Benchmark
Bloomberg Global Aggregate Index
Bloomberg US Agg Bond TR USD
R-squared 95 74
Beta 1.09 1.23
Capture Ratio (Downside/Upside) 106/106 141/108
American Funds Benchmark for the 10 Years ending 3/31/24 (updated monthly).
Morningstar Benchmark for the 10 Years ending 3/31/24 (updated monthly).
U.S. Treasuries/Agencies
7.5%
AAA/Aaa
25.4%
AA/Aa
9.9%
A
22.0%
BBB/Baa
18.7%
BB/Ba
7.7%
B
3.3%
CCC & Below
0.7%
Unrated
1.0%
Cash & equivalents
4.0%
% of net assets as of 3/31/2024 (updated monthly)

Average Life Breakdown

0-4.9 Years
32.5%
5-9.9 Years
40.7%
10-19.9 Years
10.6%
20-29.9 Years
9.4%
30+ Years
1.2%
% of net assets as of 3/31/2024 (updated monthly)

Holdings

Bonds Breakdown

Bond Details

Total bond holdings
Non-U.S. government/agency securities 40.2%
U.S. Treasury bonds & notes 7.4%
Asset-backed obligations 0.7%
Revenue bonds 0.1%

% of net assets as of 3/31/2024 (updated quarterly)

Top Fixed-Income Issuers

UMBS
8.8%
U.S. Treasury
7.4%
Japan, Government of
4.9%
China, People's Republic of
4.0%
UK Government
2.9%

% of net assets as of 3/31/2024 (updated quarterly)

Geographic Breakdown

United States
39.4%
Europe
21.4%
Asia & Pacific Basin
16.8%
Other (Including Canada & Latin America)
16.8%
Cash & equivalents
5.6%
% of net assets as of 3/31/2024 (updated monthly)

Prices & Distributions

Internal Prompt

Historical Prices Month-End

Historical Prices Year-End

Internal Prompt

Historical Distributions as of 04/18/24

2024
Record
Date
Calculated
Date
Pay Date
Income Dividend Regular
Income Dividend Special
Cap. Gains Long-Term
Cap. Gains Short-Term
Reinvest NAV
03/15/24 03/15/24 03/18/24 $0.1174 $0.00 $0.00 $0.00 $16.01
2024 Year-to-Date: Dividends Subtotal: $0.1174 Cap Gains Subtotal: $0.00
Total Distributions: $0.1174

Fees & Expenses

Internal Prompt

Fees

Annual Management Fees 0.43%
Other Expenses 0.41%
Service 12b-1 0.25%
As of each fund's most recent prospectus.
Internal Prompt

Expense Ratio

CCWFX 1.09%
Lipper Global Income Funds Average
0.83%
Fund as of most recent prospectus. Lipper Category as of 3/31/24 (updated quarterly).

Resources