Fund Evaluator:
American Funds Capital World Bd 529-F-2 (FCWBX)
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Best Performing in Global Bond Over the Last Year
| 5.4% | Destinations Global Fixed Income Opps Z (DGFZX) |
| 3.8% | Invesco International Bond Y (OIBYX) |
| 2.3% | Amana Participation Investor (AMAPX) |
| 1.8% | Invesco Global Strategic Income Y (OSIYX) |
| 1.3% | PGIM Global Total Return Z (PZTRX) |
Fund Details
American Funds Capital World Bd 529-F-2 Overview
American Funds Capital World Bd 529-F-2 (FCWBX) is an actively managed Taxable Bond Global Bond fund. Capital Group launched the fund in 2020.
The investment seeks to provide a high level of total return consistent with prudent investment management. The fund will invest at least 80% of its assets in bonds and other debt securities, which may be represented by derivatives. It invests primarily in debt securities, including asset-backed and mortgage-backed securities and securities of governmental, supranational and corporate issuers denominated in various currencies, including U.S. dollars.
About American Funds Capital World Bd 529-F-2 (FCWBX)
There are 3 members of the management team with an average tenure of 5.89 years: Andrew Cormack (2019), Philip Chitty (2019), Tomas Reithinger (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg Global Aggregate TR USD index with a weighting of 100% and CPI index with a weighting of 100%. American Funds Capital World Bd 529-F-2 has 2342 securities in its portfolio. The top 10 holdings constitute 18.5% 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 Capital World Bd 529-F-2 is part of the Fixed Income global asset class and is within the Taxable Bond fund group. American Funds Capital World Bd 529-F-2 has 53.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 92.2% (38.8% domestic bond, 53.4% foreign bond and 0.1% convertible bond). American Funds Capital World Bd 529-F-2 has 7.7% of the portfolio in cash.
Assets Under Management
The fund has $33 million in total assets, which is below the $439 million average for the Global Bond 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.
FCWBX 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 Capital World Bd 529-F-2 expense ratio is above average compared to funds in the Global Bond category. American Funds Capital World Bd 529-F-2 has an expense ratio of 0.63%, which is 34% lower than its category average, making the fund expense ratio grade a B. 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 Capital World Bd 529-F-2 has a portfolio turnover rate of 122%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 148% for the Global Bond category.
Recently, in the month of August 2026, American Funds Capital World Bd 529-F-2 returned 0.4%, which earned it a grade of C, as the Global Bond category had an average return of 0.4%. 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 Capital World Bd 529-F-2 has a trailing yield of 4.18%, which is above the 4.15% 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 Capital World Bd 529-F-2 Grades
Year to date, the fund has returned -1.0%, 1.2 percentage points worse than the category, which translates into a grade of D. The fund has returned -0.2% over the past year (grade of D), 3.4% over the past three years (grade of D) and -2.2% per year over the past five years (grade of D) and 0.3% per year over the past 10 years (grade of D).
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FCWBX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FCWBX Return (NAV) | 0.4% | -0.9% | -0.2% | 3.4% | -2.2% | 0.3% |
| FCWBX Grade | C | D | D | D | D | D |
| +/- Category | 0.0% | -0.5% | -1.7% | -1.0% | -1.6% | -0.7% |
| Global Bond Avg | 0.4% | -0.4% | 1.5% | 4.5% | -0.6% | 1.0% |
| FCWBX Tax Cost Ratio | na | na | 1.6% | 1.5% | 1.3% | na |
FCWBX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FCWBX Return (NAV) | -1.0% | 9.2% | -2.9% | 6.2% | -17.3% | -4.9% | 10.0% | 7.7% | -1.5% | 7.3% | 2.3% |
| FCWBX Grade | D | C | D | C | D | C | B | B | B | D | D |
| +/- Category | -1.2% | -0.5% | -1.8% | -0.4% | -3.4% | -0.5% | 2.1% | 0.6% | 0.6% | -0.6% | -1.4% |
| Global Bond Avg | 0.2% | 9.6% | -1.1% | 6.6% | -13.9% | -4.4% | 7.9% | 7.1% | -2.1% | 7.9% | 3.7% |
| Risk Measures | |
| Standard Deviation: | 7.3% |
| Total Risk Index: | 0.60 - Below Average |
| Category Risk Index: | 1.05 - Average |
| Category Risk Grade: | C (56% Rank) |
| Beta: | 1.17 |
| R-Squared: | 81% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Growth |
| Bond Investment Style: | Medium Quality Moderate Sensitivity |
| Yield: | 4.2% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | |
| Total Assets: | $9899 Mil |
| Fund Total Assets: | $ 34 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 122% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 7.5 years | |||
| Average Tenure: 5.9 years | |||
| Managers (Year): Cormack Andrew (2019), Chitty Philip (2019), Reithinger Tomas (2023) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 2342 |
| % in Top 10 Holdings: | 18.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 53.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 38.8% |
| Foreign Bond: | 53.4% |
| Convertible Bond: | 0.1% |
| Other: | 0.0% |
| Cash: | 7.7% |
Purchase Information
| Fund Family: | Capital Group |
| Phone Number: | 800-421-4225 |
| Website: | www.americanfunds.com |
| Status: | Open |
| Inception Date: | October 30, 2020 |
| Min. Initial Purchase: | $ 250 |
| Min. Initial IRA Purchase: | $ 25 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.63% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.95% |
| Share Class: | American Funds Capital World Bd A |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 25 |
