Equity / Global
SMALLCAP World Strategy (CGSCW)
A pioneer in global small-cap investing. Seeks growth of capital by investing in some of the world’s fastest growing and most innovative companies as well as undervalued and underappreciated opportunities. It normally invests in companies with capitalizations that typically fall within the range of the MSCI All Country World Small Cap Index or the Russell 2000 Index.
Overview
Key information
Investment Objectives
The investment objective is to provide long-term growth of capital.
Types of Investment
The strategy invests primarily in common stocks, government and corporate debt, and cash and equivalents.
Distinguishing Characteristics
A pioneer in global small-cap investing, this strategy seeks growth of capital by investing in some of the fastest growing and most innovative companies in the world as well as undervalued and underappreciated opportunities. It normally invests in companies with market capitalizations that typically fall within the range of the MSCI All Country World Small Cap Index or the Russell 2000 Index. As one of our most research-intensive strategies, with a team of more than 100 portfolio managers and analysts based in both developed and developing markets, it takes full advantage of our global presence and insights.
Holdings Outside the U.S.
There is no specific limit. Historically, the strategy has invested a substantial portion of assets in the U.S. because of the number of small-cap opportunities.
Portfolio Restrictions
The strategy may continue to hold and/or purchase securities of a portfolio company that subsequently appreciates above the small market capitalization threshold and the definition of small-cap companies is periodically re-evaluated and adjusted and may continue to be adjusted in the future.
Portfolio Managers8
Portfolio managers' years of experience are as of the previous calendar year end.
Julian Abdey
Principal Investment Officer
29 years of investment industry experience
22 years with Capital Group
Peter Eliot
24 years of investment industry experience
20 years with Capital Group
Brady Enright
34 years of investment industry experience
28 years with Capital Group
Brittain Ezzes
27 years of investment industry experience
3 years with Capital Group
Returns
Investment results1, 2, 3, 4, 5, 6
Total returns for periods ended 11/30/25 (%)
- ●Gross
- ●Net
- ●Index
| STRATEGY | 1M | 3M | YTD | 1Y | 3Y | 5Y | 7Y | 10Y | 15Y | 20Y | Lifetime |
|---|
Index data refers to the SMALLCAP World Fund Historical Benchmarks Index tooltip: SMALLCAP World Fund Historical Benchmarks Index returns reflect the results of the S&P Global <$3 Billion Index through 09/30/2009 and the MSCI All Country World Small Cap Index, the fund's current primary benchmark, thereafter. Cumulative returns for the S&P Global <$3 Billion Index include results from the comparative indexes as follows: S&P Global<$3 Billion (May 2006 to September 2009), S&P Global <$2 Billion (May 2004 to April 2006), S&P Developed <$1.5 Billion (January 2000 to April 2004), and S&P Developed <$1.2 Billion (1990 to 1999). The S&P Global indexes include both developed and developing countries. The S&P Developed indexes (used prior to May 2004) only include stocks in developed countries. MSCI All Country World Small Cap Index is a free float-adjusted market capitalization weighted index that is designed to measure equity market results of smaller capitalization companies in both developed and emerging markets. MSCI index results reflect dividends net of withholding taxes. These indexes are unmanaged, and their 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..
Strategy inception: 04/30/1990. Index lifetime is based on inception date of
the strategy.
Returns greater than one year are annualized.
Success metrics4, 6
As of 9/30/25 (updated quarterly)
0
Gross success rate (%) tooltip: The success rate is the percentage of time when the return of a portfolio is greater than the return of its respective index. It is calculated by dividing the number of periods the portfolio outpaced the index by the total number of periods.
100
0
Net success rate (%) tooltip: The success rate is the percentage of time when the return of a portfolio is greater than the return of its respective index. It is calculated by dividing the number of periods the portfolio outpaced the index by the total number of periods.
100
| Average rolling return (gross/net %) tooltip: Average rolling return provides the average return for the portfolio across all periods within the specified timeframe. | 12.99/12.32 |
|---|---|
| Average rolling Index return (gross/net %) tooltip: Average rolling index return provides the average return for the index across all periods within the specified timeframe. | 10.37/10.37 |
| Average outpaced rolling return (gross/net %) 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. | 7.46/7.23 |
| Average lagging rolling return (gross/net %) 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. | -5.38/-5.48 |
| Average excess rolling return (gross/net %) 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. | 2.62/1.95 |
Index data refers to the SMALLCAP World Fund Historical Benchmarks Index tooltip: SMALLCAP World Fund Historical Benchmarks Index returns reflect the results of the S&P Global <$3 Billion Index through 09/30/2009 and the MSCI All Country World Small Cap Index, the fund's current primary benchmark, thereafter. Cumulative returns for the S&P Global <$3 Billion Index include results from the comparative indexes as follows: S&P Global<$3 Billion (May 2006 to September 2009), S&P Global <$2 Billion (May 2004 to April 2006), S&P Developed <$1.5 Billion (January 2000 to April 2004), and S&P Developed <$1.2 Billion (1990 to 1999). The S&P Global indexes include both developed and developing countries. The S&P Developed indexes (used prior to May 2004) only include stocks in developed countries. MSCI All Country World Small Cap Index is a free float-adjusted market capitalization weighted index that is designed to measure equity market results of smaller capitalization companies in both developed and emerging markets. MSCI index results reflect dividends net of withholding taxes. These indexes are unmanaged, and their 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..
Risk measures4, 11
As of 11/30/25 (updated monthly)
| Standard deviation tooltip: Annualized standard deviation (based on monthly returns) is a common measure of absolute volatility that tells how returns over time have varied from the mean. A lower number signifies lower volatility. | |
| CGSCW (gross/net %) | 15.39/15.38 |
| MSCI All Country World Small Cap Index tooltip: MSCI All Country World Small Cap Index is a free float-adjusted market capitalization-weighted index that is designed to measure equity market results of smaller capitalization companies in both developed and emerging markets. Results reflect dividends net of withholding taxes. 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. | — |
| Sharpe ratio tooltip: Sharpe ratios use standard deviation and excess return to determine reward per unit of risk. The higher the number, the better the portfolio's historical risk-adjusted performance. | |
| CGSCW (gross/net %) | 0.39/0.35 |
| MSCI All Country World Small Cap Index tooltip: MSCI All Country World Small Cap Index is a free float-adjusted market capitalization-weighted index that is designed to measure equity market results of smaller capitalization companies in both developed and emerging markets. Results reflect dividends net of withholding taxes. 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. | 0.57 |
| R-squared (gross/net) tooltip: R-squared is a measure of the correlation between a particular return and that of a benchmark index. A measure of 100 indicates that all of the return can be explained by movements in the benchmark. Generally the higher the R-squared measure, the more reliable the beta measurement will be. | 96/96 |
| Alpha (gross/net) tooltip: Alpha is a measure of the difference between a portfolio's actual returns and its expected results, given its level of risk as measured by beta. A positive alpha figure indicates the portfolio has performed better than its beta would predict. In contrast, a negative alpha indicates the portfolio has underperformed, given the expectations established by beta. | -2.11/-2.70 |
| Beta (gross/net) tooltip: Beta relatively measures sensitivity to market movements over a specified period of time. The beta of the market (represented by the benchmark index) is equal to 1; a beta higher than 1 implies that a return was more volatile than the market. A beta lower than 1 suggests that a return was less volatile than the market. Generally the higher the R-squared measure, the more reliable the beta measurement will be. | 1.03/1.03 |
| Information ratio (gross/net) tooltip: The information ratio represents the excess return generated (over the market) per unit of relative risk as measured by tracking error. | -0.65/-0.85 |
| Downside capture ratio (gross/net) tooltip: Ratio of a portfolio/composite's return during periods when the index was down, divided by the return of the index during those periods. For example, during periods when the index was down, a down-capture ratio greater than 100 indicates the portfolio/composite produced a lower return than the index. | 106/107 |
| Upside capture ratio (gross/net) tooltip: Ratio of a portfolio/composite's return during periods when the index was up, divided by the return of the index during those periods. For example, an up-capture ratio greater than 100 indicates the portfolio/composite produced a higher return than the index during periods when the index was up. | 97/96 |
| Tracking error (gross/net %) tooltip: The tracking error is the standard deviation of the difference between the returns of an investment and its benchmark. | 3.18/3.18 |
| S&P 500 correlation (gross/net) tooltip: Correlation describes the strength of the association between a return and a benchmark. Correlation is shown on a scale from 1 to -1. The higher the positive correlation, the more closely the return and the benchmark moved relative to one another. The lower the negative correlation, the more the return and the benchmark diverged from one another. | 0.87/0.87 |
| MSCI ACWI correlation (gross/net) tooltip: Correlation describes the strength of the association between a return and a benchmark. Correlation is shown on a scale from 1 to -1. The higher the positive correlation, the more closely the return and the benchmark moved relative to one another. The lower the negative correlation, the more the return and the benchmark diverged from one another. | 0.92/0.92 |
Data calculated against the MSCI All Country World Small Cap Index tooltip: MSCI All Country World Small Cap Index is a free float-adjusted market capitalization-weighted index that is designed to measure equity market results of smaller capitalization companies in both developed and emerging markets. Results reflect dividends net of withholding taxes. 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.unless noted otherwise.
Portfolio Composition
Asset mix
As of 11/30/25 (updated monthly)
U.S. Equities | 49.2% |
|---|---|
Non-U.S. Equities | 46.5% |
U.S Bonds | 0% |
Non-U.S. Bonds | 0% |
Cash, Equivalents & Other9, 10 | 4.2% |
U.S. Equities | 49.2% |
|---|---|
Non-U.S. Equities | 46.5% |
U.S Bonds | 0.0% |
Non-U.S. Bonds | 0.0% |
Cash, Equivalents & Other9, 10 | 4.2% |
Market Capitalization7
As of 11/30/25 (updated monthly)
- ●CGSCW
- ●MSCI All Country World Small Cap Index
STRATEGY | Index | |
|---|---|---|
Highest quintile 7,753.6 — 58,219.7 | 25.9% | 20.1% |
Second quintile 4,595.9 — 7,752.2 | 21.3% | 20.0% |
Middle quintile 2,603 — 4,595.5 | 20.9% | 19.9% |
Fourth quintile 1,284.6 — 2,601.8 | 16.7% | 19.8% |
Lowest quintile 0.2 — 1,284.3 | 10.2% | 20.0% |
Cash | 3.4% | 0.0% |
Other | 1.6% | 0.1% |
SMALLCAP World Strategy
$7,998
Index
$5,659
Index data refers to the MSCI All Country World Small Cap Index tooltip: MSCI All Country World Small Cap Index is a free float-adjusted market capitalization-weighted index that is designed to measure equity market results of smaller capitalization companies in both developed and emerging markets. Results reflect dividends net of withholding taxes. 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..
Top equity holdings
As of 11/30/25 (updated monthly)
CGSCW
Index
| CGSCW | Index | |
|---|---|---|
| Lumentum | 1.3% | 0.2% |
| TopBuild | 1.1% | 0.1% |
| Diploma | 0.9% | 0.1% |
| Fabrinet | 0.6% | 0.1% |
| MKS | 0.6% | 0.1% |
| Kokusai Electric | 0.6% | 0.0% |
| Nippon Television Holdings | 0.6% | 0.0% |
Index data refers to the MSCI All Country World Small Cap Index tooltip: MSCI All Country World Small Cap Index is a free float-adjusted market capitalization-weighted index that is designed to measure equity market results of smaller capitalization companies in both developed and emerging markets. Results reflect dividends net of withholding taxes. 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 11/30/25 (updated monthly)
| CGSCW (%) | INDEX (%) | ||
|---|---|---|---|
| Not in a group | 0.0 | — | |
| Energy | 1.8 | 4.0 | |
| Materials | 4.9 | 8.5 | |
| Industrials | 25.0 | 19.7 | |
| Consumer discretionary | 14.9 | 11.6 | |
| Consumer staples | 2.8 | 4.6 | |
| Health care | 10.5 | 10.6 | |
| Financials | 15.5 | 14.3 | |
| Information technology | 15.5 | 12.2 | |
| Communication services | 2.3 | 3.4 | |
| Utilities | 0.6 | 2.9 | |
| Real estate | 1.8 | 7.7 |
Index data refers to the MSCI All Country World Small Cap Index tooltip: MSCI All Country World Small Cap Index is a free float-adjusted market capitalization-weighted index that is designed to measure equity market results of smaller capitalization companies in both developed and emerging markets. Results reflect dividends net of withholding taxes. 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 New Geography of Investing®12
As of 11/30/25 (updated monthly)
| Region | CGSCW (%) | Index (%) |
|---|---|---|
| United States | 51.4 | 52.7 |
| Canada | 4.6 | 3.5 |
| Europe & Middle East | 19.3 | 14.6 |
| Japan | 7.5 | 10.8 |
| Asia-Pacific ex. Japan | 2.5 | 4.7 |
| China | 0.8 | 1.6 |
| Emerging markets ex. China | 13.2 | 12.2 |
| Other | 0.7 | 0.0 |
| Region | CGSCW (%) | Index (%) |
|---|---|---|
| United States | 45.4 | 45.7 |
| Canada | 3.2 | 2.8 |
| Europe & Middle East | 15.8 | 14.6 |
| Japan | 6.5 | 8.7 |
| Asia-Pacific ex. Japan | 3.1 | 4.0 |
| China | 5.8 | 6.1 |
| Emerging markets ex. China | 16.7 | 14.6 |
| Other | 3.6 | 3.4 |
| Region | CGSCW (%) | Index (%) |
|---|---|---|
| United States | 49.2 | 52.7 |
| Canada | 4.4 | 3.5 |
| Europe & Middle East | 18.4 | 14.6 |
| Japan | 7.2 | 10.8 |
| Asia-Pacific ex. Japan | 2.4 | 4.7 |
| China | 0.8 | 1.6 |
| Emerging markets ex. China | 12.6 | 12.2 |
| Other | 0.7 | 0.0 |
| Cash & equivalents10 | 4.2 | — |
| Fixed Income | 0.0 | — |
| Region | CGSCW (%) | Index (%) |
|---|---|---|
| United States | 51.4 | 52.7 |
| Canada | 4.6 | 3.5 |
| Europe & Middle East | 19.3 | 14.6 |
| Japan | 7.5 | 10.8 |
| Asia-Pacific ex. Japan | 2.5 | 4.7 |
| China | 0.8 | 1.6 |
| Emerging markets ex. China | 13.2 | 12.2 |
| Other | 0.7 | 0.0 |
| Region | CGSCW (%) | Index (%) |
|---|---|---|
| United States | 45.4 | 45.7 |
| Canada | 3.2 | 2.8 |
| Europe & Middle East | 15.8 | 14.6 |
| Japan | 6.5 | 8.7 |
| Asia-Pacific ex. Japan | 3.1 | 4.0 |
| China | 5.8 | 6.1 |
| Emerging markets ex. China | 16.7 | 14.6 |
| Other | 3.6 | 3.4 |
| Region | CGSCW (%) | Index (%) |
|---|---|---|
| United States | 49.2 | 52.7 |
| Canada | 4.4 | 3.5 |
| Europe & Middle East | 18.4 | 14.6 |
| Japan | 7.2 | 10.8 |
| Asia-Pacific ex. Japan | 2.4 | 4.7 |
| China | 0.8 | 1.6 |
| Emerging markets ex. China | 12.6 | 12.2 |
| Other | 0.7 | 0.0 |
| Cash & equivalents10 | 4.2 | — |
| Fixed Income | 0.0 | — |
Index data refers to the MSCI All Country World Small Cap Index tooltip: MSCI All Country World Small Cap Index is a free float-adjusted market capitalization-weighted index that is designed to measure equity market results of smaller capitalization companies in both developed and emerging markets. Results reflect dividends net of withholding taxes. 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..
For institutional investors and registered investment advisors only. Not for use with the public.
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.
View strategy returns.
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Important information about objectives, risks, charges and expenses for collective investment trusts is contained in the Characteristics Statement and/or other fund disclosure documents(s), which can be obtained from the fund's trustee and/or the participants' plan provider or employer.
Data based on the representative account of the Capital Group SMALLCAP World Composite, unless otherwise noted.
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.
Smaller company stocks entail additional risks, and they can fluctuate in price more than larger company stocks.
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: MSCI. The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an “as is” basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the “MSCI Parties”) expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (msci.com)
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.
Holdings mentioned and their results are not representative of other holdings in the portfolio or the portfolio's results.
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.
Investment results assume all distributions are reinvested and reflect applicable fees and expenses.
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.
Gross composite results do not reflect the deduction of fees and expenses; results would have been lower if they were subject to fees and expenses.
4.
Data reflect the Capital Group SMALLCAP World Composite.
5.
Composite returns are net of withholding taxes on dividends, interest and capital gains. Actual withholding tax rates vary according to the country of denomination and tax status of each portfolio.
6.
Composite net results are calculated by deducting from the gross results a model fee equal to the highest management fees for applicable composite members. Actual fees may vary depending on, among other things, the applicable fee schedule and portfolio size.
7.
Market capitalization data is provided by FactSet. Due to differing calculation methods, the figures shown here may differ from those calculated by Capital Group.
8.
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.
9.
Accrued income and the timing of its settlement, as well as classification of convertible bonds as debt or equity, can cause slight variations in the balances displayed in different portfolio composition breakdowns.
10.
May include investments in money market or similar funds managed by a third party or similar investments managed by the investment adviser or its affiliates that are not offered to the public.
11.
Risk measures net of fees are calculated using a model fee equal to the highest management fee for applicable composite members deducted from the gross results, which do not reflect the deduction of fees and expenses.
12.
Figures include convertible securities. The equity breakdown by revenue reflects the portfolio's publicly traded equity holdings and excludes cash (and fixed income securities, if applicable). Underlying revenue data were compiled by MSCI and account for disparities in the way companies report their revenues across geographic segments. MSCI breaks out each company's reported revenues into country-by-country estimates. MSCI provides revenue data figures based on a proprietary, standardized model. Revenue exposure at the portfolio and index level was calculated by using FactSet, which takes these company revenue exposures and multiplies by the company's weighting in the portfolio and index. In this breakdown, Israel has been included in Europe.
Use of this website is intended for U.S. residents only.
Collective Investment Trusts (CITs) are available for investment only to certain qualified retirement plans. Capital Group CITs are maintained by Capital Bank and Trust Company (“trustee”), which has retained an affiliate to serve as investment adviser to the trustee.
Advisory services offered through Capital Research and Management Company (CRMC) and its RIA affiliates.
Average outpaced rolling return
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.
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.
Effective duration
Effective duration is a duration calculation for bonds that takes into account that expected cash flows will fluctuate as interest rates change.
Effective duration is a duration calculation for bonds that takes into account that expected cash flows will fluctuate as interest rates change.
Average coupon
The average coupon is the weighted average coupon rate of all the bond holdings.
The average coupon is the weighted average coupon rate of all the bond holdings.
Index Correlation
Correlation describes the strength of the association between a return and a benchmark. Correlation is shown on a scale from 1 to -1. The higher the positive correlation, the more closely the return and the benchmark moved relative to one another. The lower the negative correlation, the more the return and the benchmark diverged from one another.
Correlation describes the strength of the association between a return and a benchmark. Correlation is shown on a scale from 1 to -1. The higher the positive correlation, the more closely the return and the benchmark moved relative to one another. The lower the negative correlation, the more the return and the benchmark diverged from one another.
Beta
Beta relatively measures sensitivity to market movements over a specified period of time. The beta of the market (represented by the benchmark index) is equal to 1; a beta higher than 1 implies that a return was more volatile than the market. A beta lower than 1 suggests that a return was less volatile than the market. Generally the higher the R-squared measure, the more reliable the beta measurement will be.
Beta relatively measures sensitivity to market movements over a specified period of time. The beta of the market (represented by the benchmark index) is equal to 1; a beta higher than 1 implies that a return was more volatile than the market. A beta lower than 1 suggests that a return was less volatile than the market. Generally the higher the R-squared measure, the more reliable the beta measurement will be.
Success Rate
The success rate is the percentage of time when the return of a portfolio is greater than the return of its respective index. It is calculated by dividing the number of periods the portfolio outpaced the index by the total number of periods.
The success rate is the percentage of time when the return of a portfolio is greater than the return of its respective index. It is calculated by dividing the number of periods the portfolio outpaced the index by the total number of periods.
Option adjusted spread
Option-adjusted spread is a yield-spread calculation used to value securities with embedded options.
Option-adjusted spread is a yield-spread calculation used to value securities with embedded options.
Information ratio
The information ratio represents the excess return generated (over the market) per unit of relative risk as measured by tracking error.
The information ratio represents the excess return generated (over the market) per unit of relative risk as measured by tracking error.
MSCI All Country World Small Cap Index
MSCI All Country World Small Cap Index is a free float-adjusted market capitalization-weighted index that is designed to measure equity market results of smaller capitalization companies in both developed and emerging markets. Results reflect dividends net of withholding taxes. 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.
MSCI All Country World Small Cap Index is a free float-adjusted market capitalization-weighted index that is designed to measure equity market results of smaller capitalization companies in both developed and emerging markets. Results reflect dividends net of withholding taxes. 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.
Average rolling return
Average rolling return provides the average return for the portfolio across all periods within the specified timeframe.
Average rolling return provides the average return for the portfolio across all periods within the specified timeframe.
Average lagging rolling return
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.
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.
Bond Statistic Net Coupon
The average coupon is the weighted average coupon rate of all the bond holdings.
The average coupon is the weighted average coupon rate of all the bond holdings.
Standard deviation
Annualized standard deviation (based on monthly returns) is a common measure of absolute volatility that tells how returns over time have varied from the mean. A lower number signifies lower volatility.
Annualized standard deviation (based on monthly returns) is a common measure of absolute volatility that tells how returns over time have varied from the mean. A lower number signifies lower volatility.
Total Return Swap
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.
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.
Credit Default Swap Index
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.
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.
Upside capture ratio
Ratio of a portfolio/composite's return during periods when the index was up, divided by the return of the index during those periods. For example, an up-capture ratio greater than 100 indicates the portfolio/composite produced a higher return than the index during periods when the index was up.
Ratio of a portfolio/composite's return during periods when the index was up, divided by the return of the index during those periods. For example, an up-capture ratio greater than 100 indicates the portfolio/composite produced a higher return than the index during periods when the index was up.
Bond Statistic Net Yield to Maturity
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.
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.
Duration times spread
A measure of fixed income securities' spread exposure, taking into account both spread duration and credit spread exposure.
A measure of fixed income securities' spread exposure, taking into account both spread duration and credit spread exposure.
Currency Weighting Short Breakdown
The exposure to a specific currency before taking into consideration any forward currency contracts that may increase or decrease that currency's exposure.
The exposure to a specific currency before taking into consideration any forward currency contracts that may increase or decrease that currency's exposure.
Spread duration
A measure of fixed income securities' sensitivity to spread movement.
A measure of fixed income securities' sensitivity to spread movement.
Downside capture ratio
Ratio of a portfolio/composite's return during periods when the index was down, divided by the return of the index during those periods. For example, during periods when the index was down, a down-capture ratio greater than 100 indicates the portfolio/composite produced a lower return than the index.
Ratio of a portfolio/composite's return during periods when the index was down, divided by the return of the index during those periods. For example, during periods when the index was down, a down-capture ratio greater than 100 indicates the portfolio/composite produced a lower return than the index.
Tracking error
The tracking error is the standard deviation of the difference between the returns of an investment and its benchmark.
The tracking error is the standard deviation of the difference between the returns of an investment and its benchmark.
Average rolling index return
Average rolling index return provides the average return for the index across all periods within the specified timeframe.
Average rolling index return provides the average return for the index across all periods within the specified timeframe.
Bond Statistic Net Yield to Worst
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.
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.
Average excess rolling return
Average excess rolling return is the average of the excess return between the portfolio and the index across all periods for the specified timeframe.
Average excess rolling return is the average of the excess return between the portfolio and the index across all periods for the specified timeframe.
Small-Cap World Fund Historical Benchmarks
SMALLCAP World Fund Historical Benchmarks Index returns reflect the results of the S&P Global <$3 Billion Index through 09/30/2009 and the MSCI All Country World Small Cap Index, the fund's current primary benchmark, thereafter. Cumulative returns for the S&P Global <$3 Billion Index include results from the comparative indexes as follows: S&P Global<$3 Billion (May 2006 to September 2009), S&P Global <$2 Billion (May 2004 to April 2006), S&P Developed <$1.5 Billion (January 2000 to April 2004), and S&P Developed <$1.2 Billion (1990 to 1999). The S&P Global indexes include both developed and developing countries. The S&P Developed indexes (used prior to May 2004) only include stocks in developed countries. MSCI All Country World Small Cap Index is a free float-adjusted market capitalization weighted index that is designed to measure equity market results of smaller capitalization companies in both developed and emerging markets. MSCI index results reflect dividends net of withholding taxes. These indexes are unmanaged, and their 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.
SMALLCAP World Fund Historical Benchmarks Index returns reflect the results of the S&P Global <$3 Billion Index through 09/30/2009 and the MSCI All Country World Small Cap Index, the fund's current primary benchmark, thereafter. Cumulative returns for the S&P Global <$3 Billion Index include results from the comparative indexes as follows: S&P Global<$3 Billion (May 2006 to September 2009), S&P Global <$2 Billion (May 2004 to April 2006), S&P Developed <$1.5 Billion (January 2000 to April 2004), and S&P Developed <$1.2 Billion (1990 to 1999). The S&P Global indexes include both developed and developing countries. The S&P Developed indexes (used prior to May 2004) only include stocks in developed countries. MSCI All Country World Small Cap Index is a free float-adjusted market capitalization weighted index that is designed to measure equity market results of smaller capitalization companies in both developed and emerging markets. MSCI index results reflect dividends net of withholding taxes. These indexes are unmanaged, and their 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.
Yield to worst
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.
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.
Sharpe ratio
Sharpe ratios use standard deviation and excess return to determine reward per unit of risk. The higher the number, the better the portfolio's historical risk-adjusted performance.
Sharpe ratios use standard deviation and excess return to determine reward per unit of risk. The higher the number, the better the portfolio's historical risk-adjusted performance.
Alpha
Alpha is a measure of the difference between a portfolio's actual returns and its expected results, given its level of risk as measured by beta. A positive alpha figure indicates the portfolio has performed better than its beta would predict. In contrast, a negative alpha indicates the portfolio has underperformed, given the expectations established by beta.
Alpha is a measure of the difference between a portfolio's actual returns and its expected results, given its level of risk as measured by beta. A positive alpha figure indicates the portfolio has performed better than its beta would predict. In contrast, a negative alpha indicates the portfolio has underperformed, given the expectations established by beta.
Yield to maturity
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.
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.
R-squared
R-squared is a measure of the correlation between a particular return and that of a benchmark index. A measure of 100 indicates that all of the return can be explained by movements in the benchmark. Generally the higher the R-squared measure, the more reliable the beta measurement will be.
R-squared is a measure of the correlation between a particular return and that of a benchmark index. A measure of 100 indicates that all of the return can be explained by movements in the benchmark. Generally the higher the R-squared measure, the more reliable the beta measurement will be.
Portfolio turnover
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.
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.