American Funds Inflation Linked Bond Fund
Actively managed U.S. bond fund
As of its 2026 Q2 report, American Funds Inflation Linked Bond Fund held 298 positions with $13.19B in net assets. Its ten largest holdings made up 45.6% of the fund. The BFIAX share class costs 0.66% a year. Over the 12 months to May 2026, BFIAX returned 4.3%, with dividends reinvested. In 2026 Q2 it added 42 new positions and exited 42.
The funds investment objective is to provide inflation protection and income consistent with investment in inflation-linked securities.
The fund invests at least 80% of its assets in inflation-linked securities issued by U.S. and non-U.S. governments and corporations, with principal and interest payments adjusted for changes in inflation indices such as the Consumer Price Index. At least 80% of assets are in securities guaranteed or sponsored by the U.S. government. The fund may use derivatives including forwards, futures, and swaps to manage its portfolio. A team of multiple portfolio managers oversees segments of the fund's assets, making individual security selections based on their assessment of long-term value.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
UNITED STATES TREASURY 0.13% · due 2031-01-15 | 7.55% | $996.39M | — |
UNITED STATES TREASURY 0.13% · due 2030-07-15 | 5.59% | $737.37M | — |
UNITED STATES TREASURY 1.75% · due 2034-01-15 | 5.19% | $684.62M | — |
UNITED STATES TREASURY 0.50% · due 2028-01-15 | 4.80% | $633.43M | — |
UNITED STATES TREASURY 0.13% · due 2030-01-15 | 4.57% | $602.34M | — |
UNITED STATES TREASURY 1.88% · due 2035-07-15 | 4.01% | $529.40M | — |
UNITED STATES TREASURY 0.13% · due 2027-04-15 | 3.85% | $507.55M | — |
UNITED STATES TREASURY 1.63% · due 2027-10-15 | 3.84% | $506.32M | — |
UNITED STATES TREASURY 2.13% · due 2054-02-15 | 3.10% | $408.57M | — |
UNITED STATES TREASURY 0.38% · due 2027-01-15 | 3.10% | $408.34M | — |
The 200 largest of 298 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 95.28% |
| Securitized | 2.26% |
| Derivatives | 2.17% |
| Cash & short-term | 2.14% |
Derivatives are shown at market value, not notional exposure.
How it has done
BFIAX share class · total returns with dividends reinvested
Volatility over the last 12 months: 2.86%. Past returns are a record, not a forecast.
The 21 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.66% | +4.29% | +10.53% | +1.73% | -4.15% | |
| 0.72% | +4.49% | +11.27% | +2.68% | -4.03% | |
| 1.40% | +3.51% | +8.19% | -1.91% | -4.54% | |
| 1.36% | +3.52% | +8.31% | -1.67% | -4.45% | |
| 0.94% | +4.05% | +9.66% | +0.40% | -4.30% | |
| 0.64% | +4.35% | +10.80% | +1.92% | -4.05% | |
| 0.34% | +4.60% | +11.65% | +3.42% | -4.02% | |
| 0.29% | +4.67% | +11.86% | +3.74% | -4.01% | |
| 1.40% | +3.45% | +8.14% | -1.88% | -4.53% | |
| 0.67% | +4.25% | +10.63% | +1.75% | -4.15% | |
| 0.40% | +4.56% | +11.39% | +3.08% | -4.13% | |
| 0.67% | +4.28% | +10.61% | +1.75% | -4.15% | |
| 1.44% | +3.45% | +8.05% | -2.10% | -4.49% | |
| 0.89% | +4.00% | +9.86% | +0.62% | -4.18% | |
| 1.09% | +3.86% | +9.19% | -0.41% | -4.38% | |
| 0.44% | +4.55% | +11.40% | +2.91% | -4.04% | |
| 0.29% | +4.69% | +11.90% | +3.64% | -3.92% | |
| 0.69% | +4.54% | +11.32% | +2.92% | -4.14% | |
| 0.64% | +4.59% | +11.54% | +3.23% | -4.04% | |
| 0.39% | +4.59% | +11.60% | +3.14% | -4.04% | |
| 0.34% | +4.67% | +11.68% | +3.45% | -4.04% |
These classes hold the same portfolio, so the 5.84pp spread over 5 years is the cost difference between them — roughly 1.17pp a year — not a difference in what they own.
Fees & fund details
American Funds Inflation Linked Bond Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- High yield
- Rate sensitivity
- Long duration
- Expense ratio, by class
- 0.29% – 1.44%· BFIAX 0.66%
- Portfolio turnover
- 12.00% a year · as of 2026 Q1
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
42 new· the largest 5
42 exited· the largest 8
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 | 98.8% |
| Floating rate | 1.2% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 14.3% |
| 1-3y | 15.2% |
| 3-5y | 23.3% |
| 5-10y | 22.7% |
| 10y+ | 24.6% |
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 2026Q2
This fund carries a net credit hedge: it would gain roughly 0.5% if credit spreads widened 100bp, where a comparable bond fund would lose.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +0.51 yr |
| High yield | -0.90 yr |
Share of duration at each point, shortest first. This filer signs its rate and credit disclosures differently; the direction shown follows its interest-rate filing, and a negative reading is the least-supported figure here.
| 3 mo | 0.12 yr | 2% |
| 1 yr | 1.51 yr | 20% |
| 5 yr | 2.06 yr | 27% |
| 10 yr | 1.74 yr | 23% |
| 30 yr | 2.26 yr | 29% |
| 3 mo | 0.00 yr | 1% |
| 1 yr | 0.03 yr | 8% |
| 10 yr | 0.19 yr | 46% |
| 30 yr | 0.18 yr | 46% |
5 yr is NEGATIVE (-0.79 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
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 | -0.00 | $2.8k | -$86 |
| 1 yr | +1.51 | +0.03 | -0.00 | $43.5k | -$1.8k |
| 5 yr | +2.06 | +0.09 | -0.89 | $124.2k | -$1.17m |
| 10 yr | +1.74 | +0.19 | -0.01 | $256.6k | -$12.2k |
| 30 yr | +2.26 | +0.18 | +0.00 | $243.5k | $0 |
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 7.69 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.
Understand how this fund fits with the rest.
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