ETF Evaluator:
Capital Group Core Balanced ETF ()
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(as of Aug 26)
Best Performing in Moderate Allocation Over the Last Year
| 29.1% | Adaptive Core ETF (RULE) |
| 21.3% | Monarch Volume Factor Dividend Tree ETF (MVFD) |
| 19.5% | Avantis Moderate Allocation ETF (AVMA) |
| 19.4% | Ned Davis Research 360 Dyn Allc ETF (NDAA) |
| 16.0% | SMI 3Fourteen REAL Asset Allocation ETF (RAA) |
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ETF Details
Capital Group Core Balanced ETF Overview
Capital Group Core Balanced ETF (CGBL) is an actively managed Allocation Moderate Allocation exchange-traded fund (ETF). Capital Group launched the ETF in 2023.
The investment seeks to provide a balanced approach to total return (including income and capital gains) that is consistent with the preservation of capital over the long-term.
In seeking to pursue its investment objective, the fund varies its mix of direct or indirect exposure to equity securities, debt securities and money market instruments and cash. Under normal market conditions, the fund’s investment adviser will maintain the following investment mix: 50%-75% in equity securities, at least 25% in debt securities, and the remainder of the fund’s assets (if any) in money market instruments and cash. The fund is non-diversified.
About Capital Group Core Balanced ETF (CGBL)
There are 5 members of the management team with an average tenure of 2.85 years: Jin Lee (2023), Emme Kozloff (2023), Justin Toner (2023), Alan Berro (2023) and John Queen (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Bloomberg US Agg Bond TR USD index with a weighting of 100%. Capital Group Core Balanced ETF has 79 securities in its portfolio. The top 10 holdings constitute 59.1% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Capital Group Core Balanced ETF is part of the Allocation global asset class and is within the Allocation ETF group. Capital Group Core Balanced ETF has 12.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 52.1% There is 7.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 36.5% (32.5% domestic bond, 4.0% foreign bond and 0.0% convertible bond). Capital Group Core Balanced ETF has 3.4% of the portfolio in cash.
Assets Under Management
The fund has $7 billion in total assets, which is above the $411 million average for the Moderate Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
CGBL Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Capital Group Core Balanced ETF expense ratio is below average compared to funds in the Moderate Allocation category. Capital Group Core Balanced ETF has an expense ratio of 0.33%, which is 65% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Capital Group Core Balanced ETF has a portfolio turnover rate of 19%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 162% for the Moderate Allocation category.
Recently, in the month of July 2026, Capital Group Core Balanced ETF returned -1.9%, which earned it a grade of F, as the Moderate Allocation category had an average return of -1.0%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Capital Group Core Balanced ETF has a trailing yield of 1.88%, which is below the 2.36% category average.
The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Capital Group Core Balanced ETF Grades
Year to date, the ETF has returned 6.3%, 1.0 percentage points worse than the category, which translates into a grade of D. The fund has returned 12.9% over the past year (grade of C).
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CGBL Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| CGBL Return (NAV) | -1.9% | 2.1% | 12.9% | na | na | na |
| CGBL Return (Price) | -1.9% | 2.0% | 12.9% | na | na | na |
| NAV +/- Price Return | 0.000% | 0.111% | 0.035% | na | na | na |
| Moderate Allocation Avg | -1.0% | 1.5% | 13.8% | 10.7% | 4.9% | na |
| CGBL Grade (NAV) | F | C | C | na | na | na |
| +/- Category (NAV) | -0.9% | 0.6% | -0.9% | na | na | na |
| CGBL Tax-Cost Ratio | na | na | 0.8% | na | na | na |
CGBL Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CGBL Return (NAV) | 6.3% | 15.4% | 16.7% | na | na | na | na | na | na | na | na |
| CGBL Return (Price) | 6.2% | 15.3% | 16.6% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.014% | -0.006% | -0.002% | na | na | na | na | na | na | na | na |
| Moderate Allocation Avg | 7.4% | 10.4% | 12.0% | 10.2% | -14.7% | 13.8% | 11.5% | 18.3% | -7.5% | na | na |
| CGBL Grade (NAV) | D | A | A | na | na | na | na | na | na | na | na |
| +/- Category | -1.0% | 5.0% | 4.7% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 1.9% |
| Total Assets: | $ 7,220 Mil |
| Share Class Assets: | $ 7,220 Mil |
| Turnover: | 19.0% |
| Expense Ratio: | 0.33% |
| Index Fund: | No |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 2.9 years | |||
| Average Tenure: 2.9 years | |||
| Managers (Year): Lee Jin (2023), Kozloff Emme (2023), Toner Justin (2023), Berro Alan (2023), Queen John (2023) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 79 |
| % in Top 10 Holdings: | 59.1% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 12.0% |
Portfolio Allocation |
|
| Domestic Stock: | 52.1% |
| Foreign Stock: | 7.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 32.5% |
| Foreign Bond: | 4.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 3.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Capital Group |
| Phone Number: | 800-421-4225 |
| Website: | |
| Inception Date: | September 26, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.33% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.95% |
