American Funds Developing World Growth & Income Fund
American Funds Developing World Growth & Income Fund · 21 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
American Funds Developing World Growth & Income Fund is an actively managed emerging-markets equity fund.
- Asset class
- Equity
- Region
- Emerging markets
- Management
- Actively managed
- Fund type
- Open-end fund
Fund profile
As filed in the prospectus · 2026 Q1
The funds investment objective is to provide long-term growth of capital while providing current income.
The fund invests at least 80% of its assets in securities issued by, principally traded in, or denominated in developing countries, or issued by companies with significant economic exposure to developing countries, as determined by the adviser using criteria including per capita GDP, market capitalization relative to GDP, and regulatory environment. The fund focuses on stocks with growth potential and dividend capacity, alongside debt securities, managed through a multi-manager approach that sells holdings no longer viewed as attractive investments. Because the fund's developing-country classification depends on the adviser's judgment about economic exposure and regulatory conditions, which may change, the composition of the fund's eligible universe is not fixed.
| Share class | Gross | Net |
|---|---|---|
| DWGAX | 1.21% | — |
| CDWFX | 1.21% | — |
| RDWAX | 1.88% | — |
| RDWBX | 1.86% | 1.86% |
| RDWCX | 1.43% | 1.43% |
| RDWEX | 1.12% | 1.12% |
| RDWFX | 0.83% | 0.83% |
| RDWGX | 0.78% | 0.78% |
| DWGCX | 1.97% | — |
| DWGFX | 1.17% | — |
| DWGHX | 0.88% | — |
| CDWAX | 1.22% | — |
| CDWCX | 2.01% | — |
| CDWEX | 1.39% | — |
| RDEGX | 1.56% | 1.56% |
| RDWHX | 0.94% | 0.92% |
| FDWGX | 0.78% | — |
| TWDGX | 1.25% | — |
| TDWGX | 1.21% | — |
| FWDDX | 0.89% | — |
| FWDGX | 0.83% | — |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 54.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 97.06% |
| Cash & short-term | 2.29% |
| Bonds | 0.88% |
Latest quarter
What changed since the fund's previous filing
Largest new: HYUNDAI MOBIS CO LTD, ADANI POWER LTD, ADANI PORTS & SPECIAL ECONOMIC ZONE LTD, BAOSHAN IRON & STEEL CO LTD, AVENUE SUPERMARTS LTD, HD HYUNDAI MARINE SOLUTION CO LTD, ADANI GREEN ENERGY LTD, SASOL LTD
Largest exited: EMAAR PROPERTIES PJSC, FCX, STANDARD CHARTERED PLC, TVS MOTOR CO LTD, KOTAK MAHINDRA BANK LTD, KWEICHOW MOUTAI CO LTD, BNK FINANCIAL GROUP INC, INDOSAT TBK PT
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +40.42% | +62.36% | +26.65% | 18.76% | -12.06% | |
| +40.77% | +63.61% | +28.24% | 18.72% | -12.02% | |
| +39.40% | +59.29% | +22.50% | 18.73% | -12.24% | |
| +39.49% | +59.39% | +22.59% | 18.74% | -12.25% | |
| +40.13% | +61.52% | +25.35% | 18.71% | -12.13% | |
| +40.57% | +62.93% | +27.29% | 18.75% | -12.05% | |
| +40.90% | +64.37% | +29.11% | 18.69% | -12.05% | |
| +40.97% | +64.63% | +29.44% | 18.77% | -11.96% | |
| +39.38% | +58.85% | +21.97% | 18.79% | -12.27% | |
| +40.51% | +62.63% | +26.98% | 18.71% | -12.04% | |
| +40.82% | +64.09% | +28.73% | 18.67% | -12.07% | |
| +40.44% | +62.36% | +26.60% | 18.74% | -12.08% | |
| +39.31% | +58.74% | +21.77% | 18.74% | -12.21% | |
| +40.13% | +61.65% | +25.49% | 18.78% | -12.12% | |
| +39.94% | +60.79% | +24.40% | 18.73% | -12.11% | |
| +40.80% | +63.83% | +28.47% | 18.75% | -12.02% | |
| +41.01% | +64.68% | +29.46% | 18.78% | -11.96% | |
| +40.74% | +63.44% | +27.93% | 18.71% | -12.03% | |
| +40.80% | +63.68% | +28.24% | 18.73% | -12.02% | |
| +40.85% | +63.94% | +28.63% | 18.76% | -11.99% | |
| +40.93% | +64.20% | +29.06% | 18.74% | -11.98% |
These classes hold the same portfolio, so the 7.69pp spread over 5 years is the cost difference between them — roughly 1.54pp a year — not a difference in what they own.
May 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-05-31
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 | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 40.3% |
| 1-3y | 24.6% |
| 3-5y | 35.1% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | 11.76% | $75.18 | $321.16M | 4.3M |
| — | SK HYNIX INC | 8.98% | $1,548.11 | $245.25M | 158.4K |
| — | SAMSUNG ELECTRONICS CO LTD | 6.94% | $210.35 | $189.64M | 901.5K |
| — | TENCENT HOLDINGS LTD | 2.70% | $54.51 | $73.81M | 1.4M |
| CMQXX | CAPITAL GROUP CENTRAL CASH FUNDCMQXX | 2.29% | — | $62.49M | — |
| — | ALIBABA GROUP HOLDING LTD | 2.08% | $15.43 | $56.89M | 3.7M |
| — | MEDIATEK INC | 2.06% | $137.59 | $56.28M | 409.1K |
| — | HANA FINANCIAL GROUP INC | 2.02% | $76.38 | $55.16M | 722.2K |
| TSM | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTDTSM | 1.99% | $418.45 | $54.25M | 129.6K |
| — | CHINA RESOURCES LAND LTD | 1.80% | $4.51 | $49.12M | 10.9M |
Reported price is the fund's own reported value divided by its own reported shares at 2026-05-31 — not a live quote, and not what the fund paid.
Top 10 positions are 42.61% of net assets, top 25 59.51%, across 134 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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