American Funds Multi-Sector Income Fund
American Funds Multi-Sector Income Fund · Series S000065032 · 21 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2026 Q1
The funds investment objective is to provide a high level of current income.
The fund seeks high current income by investing across four primary debt sectors—high-yield corporate debt, investment-grade corporate debt, emerging market debt, and securitized debt—with allocations adjusted based on the adviser's assessment of relative value. The fund may hold substantial positions in below-investment-grade securities and securities tied to non-U.S. economies, and employs multiple portfolio managers who divide the portfolio into separately managed segments. Because security selection depends on the adviser's judgment about relative attractiveness, fund composition will vary with market conditions and the adviser's views.
| Share class | Gross | Net |
|---|---|---|
| MIAVX | 0.68% | — |
| CMBKX | 0.72% | — |
| RMDSX | 0.56% | 0.50% |
| RMDTX | 0.42% | 0.42% |
| RMDRX | 0.67% | 0.67% |
| RMDQX | 1.03% | 0.96% |
| RMDPX | 1.15% | 1.15% |
| RMDOX | 1.48% | 1.48% |
| RMDNX | 1.45% | — |
| MIAZX | 0.37% | — |
| MIAYX | 0.48% | — |
| MIAWX | 0.74% | — |
| MIAUX | 1.44% | — |
| MIAQX | 0.74% | — |
| CMBNX | 0.73% | — |
| CMBOX | 0.79% | — |
| CMBMX | 0.94% | — |
| CMBLX | 1.49% | — |
| RMDUX | 0.37% | 0.37% |
| CMBPX | 0.45% | — |
| CMBQX | 0.42% | — |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 102.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 79.87% |
| Securitized | 14.96% |
| Cash & short-term | 1.95% |
| Loans | 1.79% |
| 2 smaller | 0.94% |
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: RD MICHIGAN PROPERTY OWNER I LLC, NFE BRAZIL FINANCING LTD, SPACE EXPLORATION TECHNOLOGIES CORP, UNITED STATES TREASURY ×2, ARES STRATEGIC INCOME FUND, RIO GRANDE LNG LLC, MEXICO (UNITED MEXICAN STATES) (GOVERNMENT)
Largest exited: UNITED STATES TREASURY ×4, ARES STRATEGIC INCOME FUND, WARNERMEDIA HOLDINGS INC, KENNEDY-WILSON INC, GOLDMAN SACHS PRIVATE CREDIT CORP
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 |
|---|---|---|---|---|---|
| +7.75% | +24.76% | +17.39% | 3.00% | -3.53% | |
| +7.46% | +23.69% | +15.65% | 3.00% | -3.61% | |
| +7.68% | +24.53% | +16.86% | 2.99% | -3.55% | |
| +7.78% | +24.92% | +17.51% | 3.00% | -3.52% | |
| +7.51% | +23.87% | +15.88% | 3.00% | -3.61% | |
| +7.19% | +22.84% | +14.21% | 2.99% | -3.67% | |
| +7.15% | +23.46% | +16.12% | 3.00% | -3.53% | |
| +6.83% | +21.62% | +12.41% | 3.00% | -3.75% | |
| +6.72% | +21.53% | +12.78% | 3.00% | -3.73% | |
| +7.83% | +25.07% | +17.74% | 3.00% | -3.52% | |
| +7.71% | +24.67% | +17.16% | 3.00% | -3.54% | |
| +7.43% | +23.68% | +15.58% | 3.00% | -3.61% | |
| +6.69% | +21.10% | +11.60% | 3.00% | -3.79% | |
| +7.44% | +23.65% | +15.55% | 3.00% | -3.62% | |
| +7.70% | +24.57% | +17.09% | 3.00% | -3.54% | |
| +7.64% | +24.40% | +16.70% | 3.00% | -3.56% | |
| +7.21% | +22.98% | +14.61% | 3.00% | -3.65% | |
| +6.64% | +20.97% | +11.45% | 3.00% | -3.79% | |
| +7.83% | +25.07% | +17.75% | 3.00% | -3.52% | |
| +7.74% | +24.74% | +17.20% | 3.00% | -3.54% | |
| +7.76% | +24.79% | +17.31% | 3.00% | -3.54% |
These classes hold the same portfolio, so the 6.30pp spread over 5 years is the cost difference between them — roughly 1.26pp 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 2026-06-30
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 | 79.8% |
| Floating rate | 20.2% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.2% |
| 1-3y | 10.2% |
| 3-5y | 21.3% |
| 5-10y | 40.9% |
| 10y+ | 26.4% |
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 nearly 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 | 53% |
| Credit spreads | 47% |
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 | +2.90 yr |
| High yield | +1.53 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 | 0.79 yr | 16% |
| 5 yr | 2.14 yr | 43% |
| 10 yr | 1.43 yr | 28% |
| 30 yr | 0.67 yr | 13% |
3 mo is NEGATIVE (-0.02 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
| 3 mo | 0.03 yr | 1% |
| 1 yr | 0.60 yr | 14% |
| 5 yr | 1.59 yr | 36% |
| 10 yr | 1.64 yr | 37% |
| 30 yr | 0.56 yr | 13% |
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 | -0.02 | +0.01 | +0.02 | $22.4k | $42.1k |
| 1 yr | +0.79 | +0.21 | +0.40 | $462.8k | $887.3k |
| 5 yr | +2.14 | +0.85 | +0.75 | $1.90m | $1.68m |
| 10 yr | +1.43 | +1.32 | +0.31 | $2.97m | $704.4k |
| 30 yr | +0.67 | +0.51 | +0.05 | $1.15m | $112.5k |
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 5.01 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 | 1.95% | $436.87M | — |
| — | GOLDMAN SACHS GROUP INC4.94% floating · due 2036-10-21 | 0.56% | $125.12M | — |
| — | BANK OF AMERICA CORP5.04% floating · due 2037-02-06 | 0.54% | $120.78M | — |
| — | RD MICHIGAN PROPERTY OWNER I LLC7.50% · due 2045-03-30 | 0.51% | $113.57M | — |
| — | MPT OPERATING PARTNERSHIP LP8.50% · due 2032-02-15 | 0.41% | $92.26M | — |
| — | JEFFERIES FINANCIAL GROUP INC5.50% · due 2036-02-15 | 0.35% | $79.17M | — |
| — | CONNECT FINCO SARL / CONNECT US FINCO LLC9.00% · due 2029-09-15 | 0.34% | $76.14M | — |
| — | ABBVIE INC5.05% · due 2034-03-15 | 0.34% | $75.79M | — |
| — | NFE FINANCING LLC12.00% · due 2029-11-15 | 0.33% | $74.34M | — |
| — | NFE BRAZIL FINANCING LTD12.00% · due 2029-05-15 | 0.32% | $71.19M | — |
Top 10 positions are 5.64% of net assets, top 25 9.68%, across 1.1K issuers.
See more of this fund's book
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