American Funds Emerging Markets Bond Fund
American Funds Emerging Markets Bond Fund · 21 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
American Funds Emerging Markets Bond Fund is an actively managed emerging-markets bond fund.
- Asset class
- Bonds
- Region
- Emerging markets
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Mixed credit
- Rate sensitivity
- Intermediate duration
- Features
- Non-diversified
Fund profile
As filed in the prospectus · 2026 Q1
The funds investment objective is to provide a high level of total return over the long term, of which current income is a large component.
The fund invests at least 80% of its net assets in bonds and other debt securities of emerging market issuers, selecting securities tied economically to emerging markets, denominated in emerging market currencies, or issued by countries rated Ba/BB or lower or participating in International Monetary Fund programs. The fund may invest up to 100% of assets in non-U.S. dollar currencies and employs multiple portfolio managers, each overseeing segments of the portfolio. Because the fund is nondiversified, it may invest a greater percentage of its assets in any one issuer than a diversified fund. Securities held may be rated Ba1 or below and BB+ or below, sometimes referred to as junk bonds.
| Share class | Gross | Net |
|---|---|---|
| CBNAX | 0.94% | — |
| EBNFX | 0.64% | — |
| REGAX | 1.62% | — |
| REGBX | 1.57% | 1.57% |
| REGHX | 1.28% | 1.28% |
| REGCX | 1.20% | 1.16% |
| REGEX | 0.89% | 0.89% |
| REGFX | 0.57% | 0.57% |
| REGJX | 0.73% | 0.69% |
| REGGX | 0.54% | 0.54% |
| CBNCX | 1.72% | — |
| CBNEX | 1.15% | — |
| CBNFX | 0.97% | — |
| EBNAX | 0.93% | — |
| EBNCX | 1.68% | — |
| EBNEX | 0.91% | — |
| EBNGX | 0.54% | — |
| TMEBX | 0.96% | — |
| TEBMX | 0.92% | — |
| FEBMX | 0.65% | — |
| FMEBX | 0.59% | — |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 57.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 91.37% |
| Cash & short-term | 6.96% |
| Stocks | 0.03% |
| Derivatives | -0.02% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: UNITED STATES TREASURY, MEXICO (UNITED MEXICAN STATES) (GOVERNMENT), CHINA PEOPLES REPUBLIC OF (GOVERNMENT), MALAYSIA (GOVERNMENT), INDONESIA (REPUBLIC OF), NIGERIA (FEDERAL REPUBLIC OF), BANCO NACIONAL DE MEXICO SA, MOROCCO (KINGDOM OF)
Largest exited: UNITED STATES TREASURY ×3, COLOMBIA (REPUBLIC OF) ×2, CHINA OIL AND GAS GROUP LTD, OCP SA, BANK NEGARA INDONESIA PERSERO 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 |
|---|---|---|---|---|---|
| +11.68% | +29.60% | +16.33% | 6.08% | -5.55% | |
| +12.01% | +30.76% | +18.04% | 6.07% | -5.47% | |
| +11.05% | +27.40% | +13.16% | 6.07% | -5.68% | |
| +10.97% | +27.23% | +12.87% | 6.07% | -5.70% | |
| +11.48% | +28.98% | +15.24% | 6.08% | -5.61% | |
| +11.42% | +28.72% | +15.01% | 6.07% | -5.61% | |
| +11.74% | +29.82% | +16.68% | 6.07% | -5.53% | |
| +12.07% | +31.03% | +18.52% | 6.07% | -5.46% | |
| +12.00% | +30.72% | +18.32% | 6.08% | -5.48% | |
| +12.12% | +31.17% | +18.72% | 6.08% | -5.45% | |
| +10.81% | +26.62% | +11.91% | 6.07% | -5.73% | |
| +11.44% | +28.78% | +15.12% | 6.07% | -5.60% | |
| +11.92% | +30.38% | +17.49% | 6.07% | -5.50% | |
| +11.69% | +29.61% | +16.37% | 6.07% | -5.55% | |
| +10.87% | +26.79% | +12.18% | 6.07% | -5.72% | |
| +11.70% | +29.67% | +16.45% | 6.08% | -5.54% | |
| +12.12% | +31.18% | +18.73% | 6.08% | -5.45% | |
| +11.93% | +30.45% | +17.57% | 6.08% | -5.50% | |
| +11.99% | +30.67% | +17.95% | 6.08% | -5.47% | |
| +12.00% | +30.71% | +18.04% | 6.08% | -5.48% | |
| +12.06% | +30.90% | +18.27% | 6.07% | -5.47% |
These classes hold the same portfolio, so the 6.82pp spread over 5 years is the cost difference between them — roughly 1.36pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are 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 2026-06-30
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 | 95.0% |
| Floating rate | 5.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 4.0% |
| 1-3y | 8.6% |
| 3-5y | 20.4% |
| 5-10y | 40.0% |
| 10y+ | 27.0% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying about half 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 | 70% |
| Credit spreads | 30% |
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.
| Investment grade | +1.57 yr |
| High yield | +0.83 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.45 yr | 8% |
| 5 yr | 1.85 yr | 33% |
| 10 yr | 2.35 yr | 41% |
| 30 yr | 1.02 yr | 18% |
| 3 mo | 0.02 yr | 1% |
| 1 yr | 0.25 yr | 10% |
| 5 yr | 0.79 yr | 33% |
| 10 yr | 0.99 yr | 41% |
| 30 yr | 0.36 yr | 15% |
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 | +0.01 | +0.01 | +0.01 | $4.1k | $6.2k |
| 1 yr | +0.45 | +0.12 | +0.13 | $79.7k | $87.7k |
| 5 yr | +1.85 | +0.44 | +0.34 | $296.6k | $231.2k |
| 10 yr | +2.35 | +0.74 | +0.26 | $495.2k | $172.2k |
| 30 yr | +1.02 | +0.27 | +0.09 | $179.4k | $59.8k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 5.68 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| CMQXX | CAPITAL GROUP CENTRAL CASH FUNDCMQXX | 6.96% | $467.21M | — |
| — | BRAZIL FEDERATIVE REPUBLIC OF (GOVERNMENT)10.00% · due 2031-01-01 | 2.85% | $191.36M | — |
| — | POLAND (REPUBLIC OF)6.00% · due 2033-10-25 | 1.23% | $82.60M | — |
| — | SOUTH AFRICA (REPUBLIC OF)6.25% · due 2036-03-31 | 1.14% | $76.16M | — |
| — | COLOMBIA (REPUBLIC OF)13.25% · due 2033-02-09 | 1.13% | $75.79M | — |
| — | SOUTH AFRICA (REPUBLIC OF)8.88% · due 2035-02-28 | 1.01% | $67.62M | — |
| — | BRAZIL FEDERATIVE REPUBLIC OF (GOVERNMENT)10.00% · due 2035-01-01 | 0.99% | $66.13M | — |
| — | CZECH REPUBLIC1.20% · due 2031-03-13 | 0.98% | $66.08M | — |
| — | CHINA PEOPLES REPUBLIC OF (GOVERNMENT)1.63% · due 2030-10-25 | 0.95% | $64.05M | — |
| — | MALAYSIA (GOVERNMENT)3.58% · due 2032-07-15 | 0.88% | $58.98M | — |
Top 10 positions are 18.13% of net assets, top 25 28.25%, across 263 issuers.
See more of this fund's book
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