American Funds Strategic Bond Fund
American Funds Strategic Bond Fund · Series S000052313 · 21 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2026 Q1
The funds investment objective is to provide maximum total return consistent with preservation of capital.
The fund invests at least 80% of its assets in bonds and debt securities selected by its portfolio managers for attractive relative value, including corporate bonds, mortgage-backed securities, inflation-linked bonds, and securities denominated in foreign currencies. Up to 35% of assets may be in high-yield (junk) bonds rated Ba1/BB+ or below, up to 35% in emerging market securities, and up to 35% in non-dollar currencies. The fund may trade actively and use derivatives including forwards, futures, and swaps to implement its strategies. Because security selection depends on the managers' judgment of relative value, fund performance will diverge from any benchmark.
| Share class | Expense ratio |
|---|---|
| CANAX | 0.70% |
| ANBFX | 0.42% |
| RANAX | 1.40% |
| RANBX | 1.35% |
| RANHX | 1.12% |
| RANCX | 0.94% |
| RANEX | 0.65% |
| RANFX | 0.37% |
| RANJX | 0.47% |
| RANGX | 0.31% |
| CANCX | 1.46% |
| CANEX | 0.90% |
| CANFX | 0.74% |
| ANBAX | 0.69% |
| ANBCX | 1.41% |
| ANBEX | 0.69% |
| ANBGX | 0.31% |
| TSFBX | 0.70% |
| TFSBX | 0.66% |
| FSBMX | 0.40% |
| FBSSX | 0.36% |
Portfolio turnover 216.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 68.04% |
| Securitized | 28.66% |
| Cash & short-term | 6.26% |
| Loans | 0.63% |
| Stocks | 0.17% |
| Derivatives | -0.89% |
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, UNIFORM MBS ×3, GOLDMAN SACHS GROUP INC, RD MICHIGAN PROPERTY OWNER I LLC, JPMORGAN CHASE & CO, MORGAN STANLEY
Largest exited: HUNGARY (REPUBLIC OF), UNITED STATES TREASURY ×2, UNIFORM MBS ×2, CME CHICAGO MERCANTILE EXCHANGE ×2, CDX HIGH YIELD ISSUER
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 |
|---|---|---|---|---|---|
| +1.82% | +4.42% | -3.92% | 4.20% | -8.78% | |
| +2.10% | +5.29% | -2.53% | 4.16% | -8.63% | |
| +1.11% | +2.30% | -7.13% | 4.24% | -9.11% | |
| +1.18% | +2.41% | -6.98% | 4.22% | -9.11% | |
| +1.38% | +3.08% | -5.92% | 4.27% | -8.97% | |
| +1.59% | +3.69% | -5.02% | 4.19% | -8.89% | |
| +1.87% | +4.58% | -3.69% | 4.20% | -8.75% | |
| +2.26% | +5.47% | -2.15% | 4.27% | -8.70% | |
| +2.05% | +5.16% | -2.74% | 4.12% | -8.65% | |
| +2.21% | +5.64% | -2.01% | 4.24% | -8.68% | |
| +1.06% | +2.00% | -7.52% | 4.19% | -9.19% | |
| +1.61% | +3.77% | -4.80% | 4.26% | -8.98% | |
| +2.04% | +5.10% | -2.88% | 4.24% | -8.67% | |
| +1.83% | +4.39% | -3.93% | 4.25% | -8.78% | |
| +1.08% | +2.17% | -7.27% | 4.13% | -9.16% | |
| +1.82% | +4.45% | -3.85% | 4.28% | -8.78% | |
| +2.33% | +5.64% | -1.93% | 4.27% | -8.69% | |
| +2.06% | +5.07% | -2.82% | 4.29% | -8.71% | |
| +2.23% | +5.38% | -2.35% | 4.21% | -8.68% | |
| +2.12% | +5.34% | -2.50% | 4.29% | -8.63% | |
| +2.29% | +5.62% | -2.17% | 4.28% | -8.62% |
These classes hold the same portfolio, so the 5.60pp spread over 5 years is the cost difference between them — roughly 1.12pp 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 | 84.0% |
| Floating rate | 16.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.3% |
| 1-3y | 5.6% |
| 3-5y | 9.8% |
| 5-10y | 29.9% |
| 10y+ | 53.4% |
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 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 | 68% |
| Credit spreads | 32% |
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 | +2.53 yr |
| High yield | +1.79 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 | 0.56 yr | 6% |
| 1 yr | 1.90 yr | 21% |
| 5 yr | 2.21 yr | 24% |
| 10 yr | 2.57 yr | 28% |
| 30 yr | 1.86 yr | 20% |
| 3 mo | 0.02 yr | 0% |
| 1 yr | 0.35 yr | 8% |
| 5 yr | 2.29 yr | 53% |
| 10 yr | 1.17 yr | 27% |
| 30 yr | 0.49 yr | 11% |
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 | +0.56 | +0.01 | +0.01 | $17.3k | $20.2k |
| 1 yr | +1.90 | +0.18 | +0.17 | $391.3k | $361.4k |
| 5 yr | +2.21 | +0.74 | +1.55 | $1.57m | $3.30m |
| 10 yr | +2.57 | +1.15 | +0.01 | $2.45m | $26.8k |
| 30 yr | +1.86 | +0.45 | +0.04 | $947.9k | $89.4k |
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 9.10 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 | 6.26% | $1.33B | — |
| — | UNITED STATES TREASURY1.88% · due 2036-01-15 | 3.44% | $732.04M | — |
| — | UNITED STATES TREASURY4.25% · due 2033-03-31 | 2.35% | $498.52M | — |
| — | UNITED STATES TREASURY4.63% · due 2055-11-15 | 1.78% | $378.76M | — |
| — | UNITED STATES TREASURY2.38% · due 2056-02-15 | 1.34% | $284.75M | — |
| — | UNITED STATES TREASURY2.38% · due 2055-02-15 | 1.12% | $238.19M | — |
| — | UNITED STATES TREASURY0.13% · due 2051-02-15 | 1.07% | $226.89M | — |
| — | JAPAN (GOVERNMENT OF)2.40% · due 2045-03-20 | 1.02% | $217.23M | — |
| — | UNITED STATES TREASURY1.88% · due 2034-07-15 | 0.94% | $200.38M | — |
| — | UNITED STATES TREASURY4.25% · due 2054-02-15 | 0.92% | $194.49M | — |
Top 10 positions are 20.25% of net assets, top 25 30.03%, across 1.0K issuers.
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