Fund Evaluator:
American Funds Dvlpg Wld Gr&Inc 529-A (CDWAX)
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Fund Details
American Funds Dvlpg Wld Gr&Inc 529-A Overview
American Funds Dvlpg Wld Gr&Inc 529-A (CDWAX) is an actively managed International Equity Diversified Emerging Mkts fund. Capital Group launched the fund in 2014.
The investment seeks to provide long-term growth of capital while providing current income. Under normal market conditions, the fund will invest at least 80% of its assets in securities that are (1) issued by companies in developing countries; (2) principally traded in the securities markets of developing countries; (3) denominated in developing country currencies; or (4) issued by companies deemed to be suitable for investment by the fund because they have significant economic exposure to developing countries.
About American Funds Dvlpg Wld Gr&Inc 529-A (CDWAX)
There are 4 members of the management team with an average tenure of 7.00 years: Noriko Chen (2014), Lisa Thompson (2023), Arthur Caye (2022), Saurav Jain (2019). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI EM NR USD index with a weighting of 100%. American Funds Dvlpg Wld Gr&Inc 529-A has 148 securities in its portfolio. The top 10 holdings constitute 42.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
American Funds Dvlpg Wld Gr&Inc 529-A is part of the Equity global asset class and is within the International Equity fund group. American Funds Dvlpg Wld Gr&Inc 529-A has 95.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.9%. There is 94.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.7% (0.0% domestic bond, 0.7% foreign bond and 0.0% convertible bond). American Funds Dvlpg Wld Gr&Inc 529-A has 3.5% of the portfolio in cash.
Assets Under Management
The fund has $59 million in total assets, which is below the $967 million average for the Diversified Emerging Mkts 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.
CDWAX 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 American Funds Dvlpg Wld Gr&Inc 529-A expense ratio is high compared to funds in the Diversified Emerging Mkts category. American Funds Dvlpg Wld Gr&Inc 529-A has an expense ratio of 1.22%, which is 6% higher than its category average, making the fund expense ratio grade a D. 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. American Funds Dvlpg Wld Gr&Inc 529-A has a portfolio turnover rate of 54%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 68% for the Diversified Emerging Mkts category.
Recently, in the month of July 2026, American Funds Dvlpg Wld Gr&Inc 529-A returned -1.6%, which earned it a grade of A, as the Diversified Emerging Mkts category had an average return of -4.9%. 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 funds in that category.
American Funds Dvlpg Wld Gr&Inc 529-A has a trailing yield of 1.36%, which is below the 1.72% category average. The fund normally distributes its income quarterly.
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.
American Funds Dvlpg Wld Gr&Inc 529-A Grades
Year to date, the fund has returned 16.4%, 2.6 percentage points worse than the category, which translates into a grade of D. The fund has returned 32.3% over the past year (grade of D), 16.7% over the past three years (grade of D) and 5.9% per year over the past five years (grade of D) and 7.2% per year over the past 10 years (grade of F).
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CDWAX 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 |
|
| CDWAX Return (NAV) | -1.6% | 4.4% | 32.3% | 16.7% | 5.9% | 7.2% |
| CDWAX Grade | A | B | D | D | D | F |
| +/- Category | 3.4% | 2.0% | -3.6% | -1.2% | -0.6% | -1.5% |
| Diversified Emerging Mkts Avg | -4.9% | 2.4% | 35.9% | 17.9% | 6.5% | 8.7% |
| CDWAX Tax Cost Ratio | na | na | 0.6% | 0.6% | 0.6% | 0.6% |
CDWAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CDWAX Return (NAV) | 16.4% | 34.3% | 3.6% | 11.3% | -23.5% | 0.4% | 11.3% | 23.3% | -14.9% | 27.6% | 9.1% |
| CDWAX Grade | D | B | D | C | D | C | D | B | B | F | C |
| +/- Category | -2.6% | 2.8% | -2.7% | -0.9% | -0.9% | 0.6% | -10.2% | 1.5% | 1.5% | -9.0% | 0.5% |
| Diversified Emerging Mkts Avg | 19.1% | 31.4% | 6.2% | 12.1% | -22.6% | -0.2% | 21.6% | 21.9% | -16.4% | 36.6% | 8.6% |
| Risk Measures | |
| Standard Deviation: | 15.1% |
| Total Risk Index: | 1.23 - Above Average |
| Category Risk Index: | 0.90 - Below Average |
| Category Risk Grade: | B (24% Rank) |
| Beta: | 1.03 |
| R-Squared: | 88% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 1.4% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | |
| Total Assets: | $2695 Mil |
| Fund Total Assets: | $ 59 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 54% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 12.5 years | |||
| Average Tenure: 7.0 years | |||
| Managers (Year): Chen Noriko (2014), Jain Saurav (2019), Caye Arthur (2022), Thompson Lisa (2023) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 148 |
| % in Top 10 Holdings: | 42.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 95.6% |
Portfolio Allocation |
|
| Domestic Stock: | 0.9% |
| Foreign Stock: | 94.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.7% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 3.5% |
Purchase Information
| Fund Family: | Capital Group |
| Phone Number: | 800-421-4225 |
| Website: | www.americanfunds.com |
| Status: | Open |
| Inception Date: | February 3, 2014 |
| Min. Initial Purchase: | $ 250 |
| Min. Initial IRA Purchase: | $ 25 |
| True No-Load: | No |
| Front Load Maximum: | 3.50% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.22% |
Expenses and Fees | |
| Expense Ratio (%): | 1.22% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.16% |
| Share Class: | American Funds Dvlpg Wld Gr&Inc R-5 |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 25 |
