American Funds Mortgage Fund
American Funds Mortgage Fund · Series S000030190 · 21 share classes
data updated 2026-08-17
Fund profile
As filed in the prospectus · 2025 Q4
The funds investment objective is to provide current income and preservation of capital.
The fund invests at least 80% of assets in mortgage-related securities, primarily those sponsored or guaranteed by U.S. government entities or rated Aaa/AAA, with a portfolio divided among multiple managers who select securities they view as attractively priced long-term opportunities. The fund may also hold federal agency debt and use derivatives including futures and swaps. Because security selection depends on the investment adviser's judgment of relative value, fund holdings and performance will diverge from any mortgage market benchmark.
| Share class | Gross | Net | As of |
|---|---|---|---|
| MFAAX | 0.68% | 0.68% | 2025 Q4 |
| CMFFX | 0.68% | 0.68% | 2025 Q4 |
| RMAAX | 1.38% | 1.38% | 2025 Q4 |
| RMABX | 1.35% | 1.35% | 2026 Q1 |
| RMACX | 0.92% | 0.92% | 2026 Q1 |
| RMAEX | 0.62% | 0.62% | 2026 Q1 |
| RMAFX | 0.32% | 0.32% | 2026 Q1 |
| RMAGX | 0.26% | 0.26% | 2026 Q1 |
| MFACX | 1.43% | 1.43% | 2025 Q4 |
| MFAEX | 0.62% | 0.62% | 2025 Q4 |
| MFAFX | 0.37% | 0.37% | 2025 Q4 |
| CMFAX | 0.69% | 0.69% | 2025 Q4 |
| CMFCX | 1.48% | 1.48% | 2025 Q4 |
| CMFEX | 0.92% | 0.92% | 2025 Q4 |
| RMBEX | 1.09% | 1.08% | 2026 Q1 |
| RMAHX | 0.46% | 0.42% | 2026 Q1 |
| AFFMX | 0.26% | 0.26% | 2025 Q4 |
| TMFMX | 0.72% | 0.72% | 2025 Q4 |
| TFMFX | 0.68% | 0.68% | 2025 Q4 |
| FFMFX | 0.41% | 0.41% | 2025 Q4 |
| FMMFX | 0.31% | 0.31% | 2025 Q4 |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 428.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q1
| Securitized | 71.79% |
| Bonds | 31.41% |
| Cash & short-term | 3.91% |
| Derivatives | 0.26% |
These positions come to 107.37% of the fund's net assets. This counts only what the fund reported holding — the holdings disclosure covers assets, not liabilities such as borrowings — so it is not expected to reconcile to 100%.
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: FEDERAL HOME LOAN BANKS ×7, UNIFORM MBS
Largest exited: FEDERAL HOME LOAN BANKS ×5, UNIFORM MBS ×3
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Feb 2026
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Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-02-28
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 98.5% |
| Floating rate | 1.5% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 23.7% |
| 1-3y | 2.8% |
| 3-5y | 1.8% |
| 5-10y | 2.4% |
| 10y+ | 69.3% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q1
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying a small fraction as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 98% |
| Credit spreads | 2% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| High yield | +0.08 yr |
| Investment grade | +0.04 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 1 yr | 1.22 yr | 21% |
| 5 yr | 1.76 yr | 31% |
| 10 yr | 1.86 yr | 32% |
| 30 yr | 0.92 yr | 16% |
3 mo is NEGATIVE (-0.12 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
| 3 mo | 0.03 yr | 30% |
| 1 yr | 0.03 yr | 28% |
| 5 yr | 0.03 yr | 31% |
| 10 yr | 0.01 yr | 8% |
| 30 yr | 0.00 yr | 3% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | -0.12 | +0.00 | +0.03 | $1.6k | $42.2k |
| 1 yr | +1.22 | +0.02 | +0.01 | $25.9k | $15.6k |
| 5 yr | +1.76 | +0.01 | +0.02 | $17.6k | $27.8k |
| 10 yr | +1.86 | +0.00 | +0.01 | $1.5k | $9.7k |
| 30 yr | +0.92 | +0.00 | +0.00 | $242 | $4.4k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | CAPITAL GROUP CENTRAL CASH FUND | 3.91% | $511.76M | — |
| — | FEDERAL HOME LOAN BANKS0.00% · due 2026-03-04 | 3.44% | $449.91M | — |
| — | UNIFORM MBS6.00% · due 2056-03-01 | 2.95% | $386.12M | — |
| — | FEDERAL HOME LOAN MORTGAGE CORP6.00% · due 2055-07-01 | 2.85% | $373.31M | — |
| — | FEDERAL HOME LOAN BANKS0.00% · due 2026-04-29 | 2.66% | $347.98M | — |
| — | FEDERAL HOME LOAN BANKS0.00% · due 2026-05-04 | 2.66% | $347.80M | — |
| — | FEDERAL HOME LOAN BANKS0.00% · due 2026-04-08 | 2.29% | $298.89M | — |
| — | FEDERAL HOME LOAN BANKS0.00% · due 2026-04-27 | 1.90% | $248.60M | — |
| — | FEDERAL HOME LOAN BANKS0.00% · due 2026-05-22 | 1.90% | $247.98M | — |
| — | FEDERAL HOME LOAN BANKS0.00% · due 2026-04-14 | 1.31% | $171.26M | — |
Top 10 positions are 25.88% of net assets, top 25 40.56%, across 67 issuers.
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