Fixed Income / Emerging Markets
American Funds Emerging Markets Bond Fund®
A differentiated approach to emerging markets debt. Invests in both sovereign and corporate bonds, denominated in either U.S. dollar or local currency issues, which may serve as a source of favorable returns and potential diversification. As pioneers in emerging markets investing, this strategy leverages our 20-year track record of managing emerging markets bond portfolios.
Overview
Key information
Objective
The fund's investment objective is to provide a high level of total return over the long term, of which current income is a large component.
Types of investments
Government debt (nominal and inflation-linked), quasi-sovereigns and corporate bonds — including U.S. dollar-denominated and local-currency issues.
Distinguishing characteristics
This strategy takes a differentiated approach by investing in the full universe of emerging markets debt. It invests in both sovereign and corporate bonds, denominated in either U.S. dollar or local currency issues, which may serve as a source of favorable returns and potential diversification. As pioneers in emerging markets investing, this strategy leverages our 20-year track record of managing emerging markets bond portfolios.
Portfolio restrictions
The fund generally invests at least 80% of its assets in bonds and other debt securities from emerging markets issuers (some of which may be represented by derivatives). The fund may invest in securities 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 bonds issued by developing country governments and corporates.
Holdings outside the U.S.
Up to 100% of assets may be invested in securities denominated in currencies other than the U.S. dollar, mostly fixed-income securities of emerging markets governments, quasi-government entities and corporations.
Maturity
The bond maturities that the fund targets will vary depending on the current strategy being implemented.
Key facts
Fund inception
4/22/16
Fund assets (millions)
$7,097.1
As of 10/31/26 (updated monthly)
Issuers
271
As of 10/31/26 (updated monthly)
Regular dividends paid 5
Monthly
Capital gains paid 5
June, Dec.
Fiscal year-end
December
Prospectus date
3/1/26
CUSIP
02631F 78 6
Fund number
26114
Portfolio managers4
Principal Investment Officer
Portfolio managers4
Principal Investment Officer
Returns
Investment results1, 2
Total returns for periods ended 10/31/26 (%)
- ●REGGX at NAV
- ●Index
| Daily YTD | 1M | 3M | YTD | 1Y | 3Y | 5Y | 10Y | 15Y | 20Y | Lifetime |
|---|
Index data refers to the Emerging Markets Debt Historical Benchmarks Index.
Daily YTD as of 11/13/26.Returns greater than one year are annualized.
Fund inception: 4/22/16. Index lifetime is based on inception date of the fund.
Long-term results
As of 10/31/26 (updated monthly, %)
| Average rolling monthly return(%)tooltip: Average rolling return provides the average return for the portfolio across all periods within the specified timeframe. | 4.80 |
|---|---|
| Average rolling monthly index return(%)tooltip: Average rolling index return provides the average return for the index across all periods within the specified timeframe. | 3.51 |
| Average outpaced rolling monthly return(%)tooltip: Average outpaced rolling return is the average percentage the portfolio outpaced the index in periods where the portfolio return was greater than the index for the specified timeframe. | 1.69 |
| Average lagging rolling monthly return(%)tooltip: Average lagged rolling return is the average percentage the portfolio lagged the index in periods where the portfolio return was less than the index for the specified timeframe. | -0.89 |
| Average excess rolling monthly return(%)tooltip: Average excess rolling return is the average of the excess return between the portfolio and the index across all periods for the specified timeframe. | 1.29 |
Volatility & returns
As of 10/31/26 (updated monthly, %)
- ●REGGX
- ▲Other CG funds
- ■Emerging Markets Debt Historical Benchmarks Index
Risk measures
As of 10/31/26 (updated monthly)
| Standard deviation (%) | |
| REGGX | 6.56 |
| Index | 6.51 |
| Sharpe ratio | |
| REGGX | 0.66 |
| Index | 0.69 |
| R-squared (%) | 98.44 |
| Alpha | -0.17 |
| Beta | 1.05 |
| Information ratio | 0.05 |
| Downside capture ratio (%) | 110 |
| Upside capture ratio (%) | 104 |
| Tracking error (%) | 0.88 |
| S&P 500 correlation | 0.63 |
| MSCI ACWI correlation | 0.76 |
Index data, and data calculated against an index, refers to the Emerging Markets Debt Historical Benchmarks Index unless noted otherwise.
Prices & distributions
As of 11/13/26
- Price at nav ($)
- Price change ($)
- Price change (%)
| YTD dividends subtotal | $0.43 |
| YTD cap gains subtotal | $0.00 |
| YTD total distributions | $0.43 |
Find Historical Prices
Find Historical Distributions
Yield
As of 10/31/26 (updated monthly, %)
| 12-month distribution rate (at NAV)6 | 7.19 |
| 30-day SEC yield (gross/net) | 6.93 / 6.93 |
Ratings are based on risk-adjusted returns.
Portfolio composition
Asset class exposure
As of 10/31/26 (updated monthly, %)
U.S. Equities | 0.0 |
|---|---|
Non-U.S. Equities | 0.0 |
U.S. Fixed Income | 4.0 |
Non-U.S. Fixed Income | 89.9 |
Cash and Equivalents8 | 6.0 |
Others and Convertibles9 | 0.0 |
U.S. Equities | — |
|---|---|
Non-U.S. Equities | 0.0 |
U.S Fixed Income | 4.0 |
Non-U.S. Fixed Income | 89.9 |
Cash and Equivalents | 6.0 |
Others and Convertibles9 | 0.0 |
Key statistics
As of 10/31/26 (updated monthly)
REGGX | INDEX | |
|---|---|---|
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. | 7.3 | 7.1 |
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. | 7.3 | 7.0 |
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. | 5.6 | 5.2 |
Spread duration (years)tooltip: A measure of fixed income securities' sensitivity to spread movement. | 2.4 | 2.7 |
Option adjusted spread (bps)tooltip: Option-adjusted spread is a yield-spread calculation used to value securities with embedded options. | 116 | 109 |
Duration times spread (bps)tooltip: A measure of fixed income securities' spread exposure, taking into account both spread duration and credit spread exposure. | 508 | 541 |
Average coupon (%)tooltip: The average coupon is the weighted average coupon rate of all the bond holdings. | 5.7 | 5.8 |
Index data refers to the 50% GBI-EM/30% EMBI-Global/20% CEMBI.
Morningstar Style Box™10
As of 9/30/26 (updated quarterly)
Top fixed income issuers
As of 9/30/26 (updated monthly, %)
| REGGX | Index | |
|---|---|---|
| Mexico (United Mexican States) (Government) | 6.6% | 5.9% |
| Brazil, Federal Government of | 5.6% | 4.8% |
| Indonesia Government | 4.7% | 4.7% |
| Poland, Republic of | 4.7% | 5.0% |
| Colombia, Republic of | 4.6% | 3.3% |
| Malaysia, Government of | 4.5% | 4.7% |
| South Africa, Republic of | 4.2% | 4.3% |
| China, People's Republic of | 3.9% | 5.3% |
| U.S. Treasury | 3.7% | — |
| India, Republic of | 2.9% | 5.0% |
Portfolio exposures
As of 10/31/26 (updated monthly, %)
| Market value (%) | |||
|---|---|---|---|
| Sectors | REGGX | INDEX | |
| Hard currency | 43.8 | 50.0 | |
| Local currency | 50.2 | 50.0 | |
| Other12 | 0.0 | 0.0 | |
| Cash & equivalents11 | 6.0 | — | |
Fees & expenses
Fees
As of the most recent prospectus (%)
Annual management fees | 0.46 |
|---|---|
Other expenses | 0.08 |
12b-1 | n/a |
Expense ratio
Values shown as percentages (%)
REGGX (gross/net)3 | 0.54/0.54 |
|---|---|
Morningstar Emerging Markets Bond Retirement, Large median15 As of 9/30/26 (updated quarterly) | 0.75 |
Resources
Literature
Dates as of posting
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EXPLORE INSIGHTSFind resources on topics ranging from plan design to participant education
EXPLORE RESOURCESFigures 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.
View mutual fund expense ratios and returns.
View current mutual fund SEC yields.
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 fund prospectuses and/or 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 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.
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.
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.
Capital Group offers some funds in a range of share classes designed to meet the needs of retirement plan sponsors and participants. The different share classes incorporate varying levels of financial professional compensation and service provider payments.
Because Class R-6 shares do not include any recordkeeping payments, expenses are lower and results are higher. Other share classes that include recordkeeping costs have higher expenses and lower results than Class R-6.
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.
Information has been obtained from sources believed to be reliable, but J.P. Morgan does not warrant its completeness or accuracy. The Index is used with permission. The Index may not be copied, used, or distributed without J.P. Morgan's prior written approval. Copyright 2026, JPMorgan Chase & Co. All rights reserved.
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.
View results and yields without fee waiver and/or expense reimbursement.
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.
4.
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.
5.
The months indicated for dividends and capital gains paid represent the anticipated current year ex-dividend date schedule for all share classes.
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.
A portion of the fund's distribution may be classified as a return of capital. Please refer to the fund's Annual Report for details.
7.
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Past results are not a guarantee of results in future periods. The Morningstar Ratings are based on the share classes of each underlying fund held by the series; other underlying fund share classes may have different performance characteristics.
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.
May include forwards, options on forwards, warrants, and convertible securities.
10.
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.
11.
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.
12.
Sector breakdown "Other" may include equities, rights, warrants, preferreds, convertibles, forwards, the market value of certain derivative instruments and other uncategorized securities.
13.
Rating exposure ”Other” may include equities, rights, warrants, preferreds, convertibles, forwards and FX (foreign exchange) options.
14.
Includes cash, short-term securities, other assets less liabilities, and may include accrued income. 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.
15.
Source for Morningstar expense ratio comparison: Morningstar, based on Morningstar Emerging Markets Bond Retirement, Large median funds' most recent fiscal year-ends available as of the most recent quarter-end.
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.
Capital Client Group, Inc.
© 2026 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar, its content providers nor Capital Group are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Information is calculated by Morningstar. When applicable, due to differing calculation methods, the figures shown here may differ from those calculated by Capital Group.
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