UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
Certified Shareholder Report of
Registered Management Investment Companies
Investment Company Act File Number: 811-05104
Capital World Bond Fund
(Exact Name of Registrant as Specified in Charter)
333 South Hope Street
Los Angeles, California 90071
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (949) 975-5000
Date of fiscal year end: December 31
Date of reporting period: June 30, 2021
Brian C. Janssen
Capital World Bond Fund
6455 Irvine Center Drive
Irvine, California 92618
(Name and Address of Agent for Service)
/
ITEM 1 – Reports to Stockholders
Capital World Bond Fund® |  |
Semi-annual report for the six months ended June 30, 2021 |

Find diverse total
return opportunities
in global bonds
Capital World Bond Fund seeks to provide you, over the long term, with a high level of total return consistent with prudent investment management. Total return comprises the income generated by the fund and the changes in the market value of the fund’s investments.
This fund is one of more than 40 offered by Capital Group, home of American Funds, one of the nation’s largest mutual fund families. For 90 years, Capital Group has invested with a long-term focus based on thorough research and attention to risk.
Fund results shown in this report, unless otherwise indicated, are for Class A shares at net asset value. If a sales charge (maximum 3.75%) had been deducted, the results would have been lower. Results are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com.
Here are the total returns on a $1,000 investment with all distributions reinvested for the period ended June 30, 2021 (the most recent calendar quarter-end):
Class A shares | 1 year | 5 years | 10 years |
| | | |
Reflecting 3.75% maximum sales charge | –0.06% | 1.98% | 1.83% |
For other share class results, visit capitalgroup.com and americanfundsretirement.com.
The total annual fund operating expense ratio was 0.92% for Class A shares as of the prospectus dated March 1, 2021.
Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Visit capitalgroup.com for more information.
The fund’s 30-day yield for Class A shares as of July 31, 2021, calculated in accordance with the U.S. Securities and Exchange Commission (SEC) formula, was 1.32%. The fund’s 12-month distribution rate for Class A shares as of that date was 1.64%. Both reflect the 3.75% maximum sales charge. The SEC yield reflects the rate at which the fund is earning income on its current portfolio of securities, while the distribution rate reflects the fund’s past dividends paid to shareholders. Accordingly, the fund’s SEC yield and distribution rate may differ.
The return of principal for bond funds and for funds with significant underlying bond holdings is not guaranteed. Fund shares are subject to the same interest rate, inflation and credit risks associated with the underlying bond holdings. High-yield and lower rated bonds are subject to greater fluctuations in value and risk of loss of income and principal than investment-grade and higher rated bonds. Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard & Poor’s, Moody’s and/or Fitch as an indication of an issuer’s creditworthiness. Investing in bonds issued outside the U.S. may be subject to additional risks. They include currency fluctuations, political and social instability, differing securities regulations and accounting standards, higher transaction costs, possible changes in taxation, illiquidity and price volatility. These risks may be heightened in connection with investments in developing countries. Refer to the fund prospectus and the Risk Factors section of this report for more information on these and other risks associated with investing in the fund.
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Fellow investors:
Results for Capital World Bond Fund for the periods ended June 30, 2021, are shown in the table below, as well as results of the fund’s benchmark and peer group.
For additional information about the fund, its investment results, holdings and portfolio managers, visit capitalgroup.com/individual/investments/fund/cwbfx. You can also access information about Capital Group’s American Funds and read our insights about the markets, retirement, saving for college, investing fundamentals and more at capitalgroup.com.
Contents
1 | Results at a glance |
| |
2 | Investment portfolio |
| |
38 | Financial statements |
| |
42 | Notes to financial statements |
| |
57 | Financial highlights |
Results at a glance
For periods ended June 30, 2021, with all distributions reinvested
| | Cumulative total returns | | Average annual total returns |
| | 6 months | | 1 year | | 5 years | | 10 years | | Lifetime1 |
| | | | | | | | | | |
Capital World Bond Fund (Class A shares) | | | –3.37 | % | | | 3.84 | % | | | 2.76 | % | | | 2.22 | % | | | 5.84 | % |
Bloomberg Barclays Global Aggregate Index2 | | | –3.21 | | | | 2.63 | | | | 2.34 | | | | 2.05 | | | | 5.77 | |
Lipper Global Income Funds Average3 | | | –1.81 | | | | 4.27 | | | | 3.11 | | | | 2.67 | | | | 5.98 | |
1 | Since August 4, 1987. |
2 | Bloomberg Barclays source: Bloomberg Index Services Ltd. The Bloomberg Barclays Global Aggregate Index began on December 31, 1989. For the period of August 4, 1987, to December 31, 1989, the FTSE World Government Bond Index was used. The indexes are unmanaged and, therefore, have no expenses. Investors cannot invest directly in an index. FTSE data: © 2021 FTSE Index LLC. All rights reserved. |
3 | Source: Refinitiv Lipper. Lipper averages reflect the current composition of all eligible mutual funds (all share classes) within a given category. Lipper categories are dynamic and averages may have few funds, especially over longer periods. To see the number of funds included in the Lipper category for each fund’s lifetime, please see the Quarterly Statistical Update, available on our website. |
Investment portfolio June 30, 2021 | unaudited |
| |
Portfolio by type of security | Percent of net assets |

Bonds & notes of governments & government agencies outside the U.S. |
Eurozone*: | | | | | | | | |
Italy | | | 3.27 | % | | | | |
Germany | | | 2.10 | | | | | |
Greece | | | 1.36 | | | | | |
France | | | 1.16 | | | | | |
Spain | | | .75 | | | | | |
Portugal | | | .13 | | | | | |
Ireland | | | .12 | | | | | |
Belgium | | | .12 | | | | | |
Latvia | | | .07 | | | | | |
Estonia | | | .01 | | | | | |
Lithuania | | | .01 | | | | | |
Luxembourg | | | — | † | | | 9.10 | % |
China | | | | | | | 9.09 | |
Japan | | | | | | | 7.44 | |
United Kingdom | | | | | | | 3.76 | |
Canada | | | | | | | 2.15 | |
Brazil | | | | | | | 1.87 | |
Mexico | | | | | | | 1.73 | |
Russian Federation | | | | | | | 1.72 | |
Australia | | | | | | | 1.52 | |
Romania | | | | | | | 1.46 | |
Malaysia | | | | | | | 1.04 | |
Other | | | | | | | 10.24 | |
| | | | | | | 51.12 | % |
* | Countries using the euro as a common currency: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain. |
† | Amount less than .01% |
Bonds, notes & other debt instruments 94.23% | | Principal amount (000) | | | Value (000) | |
Euros 16.82% | | | | | | | | |
Abbott Laboratories 1.50% 2026 | | € | 2,215 | | | $ | 2,821 | |
Allianz SE 0.25% 2023 | | | 1,900 | | | | 2,277 | |
Allianz SE 1.375% 2031 | | | 1,900 | | | | 2,501 | |
Allianz SE 5.625% 2042 (3-month EUR-EURIBOR + 5.00% on 10/17/2022)1 | | | 800 | | | | 1,017 | |
Allianz SE 4.75% perpetual bonds (3-month EUR-EURIBOR + 3.60% on 10/24/2023)1 | | | 13,900 | | | | 18,187 | |
Altria Group, Inc. 2.20% 2027 | | | 33,268 | | | | 42,643 | |
American Honda Finance Corp. 1.60% 2022 | | | 360 | | | | 434 | |
American Honda Finance Corp. 1.95% 2024 | | | 3,110 | | | | 3,935 | |
American Tower Corp. 0.45% 2027 | | | 7,925 | | | | 9,409 | |
American Tower Corp. 0.875% 2029 | | | 8,385 | | | | 10,034 | |
American Tower Corp. 1.25% 2033 | | | 5,600 | | | | 6,745 | |
Anheuser-Busch InBev NV 1.125% 2027 | | | 3,275 | | | | 4,109 | |
AT&T, Inc. 1.60% 2028 | | | 2,290 | | | | 2,914 | |
AT&T, Inc. 2.05% 2032 | | | 6,250 | | | | 8,218 | |
Bank of America Corp. 0.58% 2029 (3-month EUR-EURIBOR + 0.73% on 8/8/2028)1,2 | | | 8,140 | | | | 9,713 | |
Bayer Capital Corp. BV 1.50% 2026 | | | 2,400 | | | | 3,009 | |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
Euros (continued) | | | | | | | | |
Bayer Capital Corp. BV 2.125% 2029 | | € | 2,000 | | | $ | 2,644 | |
Becton Dickinson Euro Finance SARL 1.208% 2026 | | | 6,030 | | | | 7,485 | |
Belgium (Kingdom of), Series 72, 2.60% 2024 | | | 12,210 | | | | 15,884 | |
Belgium (Kingdom of), Series 89, 0.10% 2030 | | | 150 | | | | 180 | |
Belgium (Kingdom of) 1.70% 2050 | | | 1,870 | | | | 2,680 | |
BMW Finance NV 0.50% 2022 | | | 3,000 | | | | 3,603 | |
BMW Finance NV 1.125% 2026 | | | 1,620 | | | | 2,032 | |
BP Capital Markets BV 0.933% 2040 | | | 530 | | | | 585 | |
British American Tobacco International Finance PLC 2.75% 2025 | | | 8,000 | | | | 10,335 | |
Buzzi Unicem SpA 2.125% 2023 | | | 2,000 | | | | 2,458 | |
CaixaBank, SA 1.375% 2026 | | | 13,100 | | | | 16,243 | |
CaixaBank, SA 2.25% 2030 (5-year EUR Annual (vs. 6-month EUR-EURIBOR) + 1.68% on 4/17/2025)1 | | | 25,400 | | | | 31,580 | |
Chubb, Ltd. 1.55% 2028 | | | 1,040 | | | | 1,329 | |
Cloverie PLC 1.75% 2024 | | | 7,100 | | | | 8,964 | |
Comcast Corp. 0.25% 2027 | | | 6,700 | | | | 7,986 | |
Comcast Corp. 1.25% 2040 | | | 1,300 | | | | 1,564 | |
Cote d’Ivoire (Republic of) 5.25% 2030 | | | 3,950 | | | | 4,906 | |
Cote d’Ivoire (Republic of) 5.875% 2031 | | | 4,575 | | | | 5,846 | |
Cote d’Ivoire (Republic of) 4.875% 2032 | | | 6,700 | | | | 7,959 | |
Crédit Agricole SA 0.50% 2024 | | | 1,200 | | | | 1,446 | |
CRH Finance DAC 3.125% 2023 | | | 1,100 | | | | 1,381 | |
DH Europe Finance II SARL 0.45% 2028 | | | 2,550 | | | | 3,050 | |
Dow Chemical Co. 0.50% 2027 | | | 1,170 | | | | 1,399 | |
Dow Chemical Co. 1.125% 2032 | | | 640 | | | | 777 | |
Dow Chemical Co. 1.875% 2040 | | | 1,000 | | | | 1,271 | |
Egypt (Arab Republic of) 5.625% 2030 | | | 3,720 | | | | 4,444 | |
Egypt (Arab Republic of) 5.625% 2030 | | | 700 | | | | 836 | |
Egypt (Arab Republic of) 6.375% 2031 | | | 600 | | | | 744 | |
Enel Finance International SA 1.00% 2024 | | | 4,000 | | | | 4,916 | |
Equinix, Inc. 0.25% 2027 | | | 2,820 | | | | 3,324 | |
Equinor ASA 1.375% 2032 | | | 2,020 | | | | 2,593 | |
Estonia (Republic of) 0.125% 2030 | | | 1,790 | | | | 2,129 | |
European Financial Stability Facility 0.40% 2025 | | | 26,000 | | | | 31,758 | |
European Financial Stability Facility 0% 2027 | | | 1,610 | | | | 1,935 | |
European Investment Bank 0% 2031 | | | 2,020 | | | | 2,394 | |
European Union 0% 2025 | | | 350 | | | | 423 | |
European Union 0% 2026 | | | 5,840 | | | | 7,061 | |
European Union 0% 2028 | | | 23,300 | | | | 28,057 | |
European Union 0% 2031 | | | 13,250 | | | | 15,683 | |
European Union 0% 2035 | | | 1,355 | | | | 1,536 | |
European Union 0.20% 2036 | | | 3,180 | | | | 3,680 | |
Fidelity National Information Services, Inc. 1.00% 2028 | | | 2,525 | | | | 3,085 | |
Fiserv, Inc. 1.125% 2027 | | | 3,760 | | | | 4,662 | |
Fiserv, Inc. 1.625% 2030 | | | 10,800 | | | | 13,772 | |
French Republic O.A.T. 0% 2023 | | | 2,070 | | | | 2,482 | |
French Republic O.A.T. 0.50% 2025 | | | 4,370 | | | | 5,392 | |
French Republic O.A.T. 1.00% 2027 | | | 740 | | | | 947 | |
French Republic O.A.T. 0% 2030 | | | 122,000 | | | | 144,241 | |
French Republic O.A.T. 1.25% 2034 | | | 10,090 | | | | 13,404 | |
French Republic O.A.T. 0.50% 2040 | | | 7,190 | | | | 8,352 | |
French Republic O.A.T. 0.50% 2044 | | | 1,620 | | | | 1,835 | |
French Republic O.A.T. 2.00% 2048 | | | 870 | | | | 1,328 | |
French Republic O.A.T. 0.75% 2052 | | | 1,940 | | | | 2,199 | |
French Republic O.A.T. 1.75% 2066 | | | 380 | | | | 568 | |
General Motors Financial Co. 0.20% 20222 | | | 1,360 | | | | 1,620 | |
Germany (Federal Republic of) 0% 2023 | | | 18,060 | | | | 21,764 | |
Germany (Federal Republic of) 0% 2025 | | | 3,150 | | | | 3,837 | |
Germany (Federal Republic of) 0.25% 2027 | | | 3,380 | | | | 4,190 | |
Germany (Federal Republic of) 0% 2030 | | | 75,820 | | | | 92,383 | |
Germany (Federal Republic of) 0% 2030 | | | 1,346 | | | | 1,648 | |
Germany (Federal Republic of) 0% 2031 | | | 6,230 | | | | 7,569 | |
Germany (Federal Republic of) 0% 2036 | | | 109,300 | | | | 128,578 | |
Germany (Federal Republic of) 0% 2050 | | | 61,190 | | | | 66,726 | |
Germany (Federal Republic of) 0% 2050 | | | 310 | | | | 341 | |
Goldman Sachs Group, Inc. 1.00% 20332 | | | 22,674 | | | | 26,960 | |
Greece (Hellenic Republic of) 4.375% 2022 | | | 6,030 | | | | 7,519 | |
Greece (Hellenic Republic of) 3.45% 2024 | | | 16,970 | | | | 22,195 | |
Greece (Hellenic Republic of) 3.375% 2025 | | | 89,190 | | | | 119,206 | |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
Euros (continued) | | | | | | | | |
Greece (Hellenic Republic of) 0% 2026 | | € | 20,730 | | | $ | 24,545 | |
Greece (Hellenic Republic of) 2.00% 2027 | | | 13,760 | | | | 18,028 | |
Greece (Hellenic Republic of) 0.75% 2031 | | | 5,190 | | | | 6,113 | |
Greece (Hellenic Republic of) 1.875% 2052 | | | 10,620 | | | | 13,249 | |
Groupe BPCE SA 0.875% 2024 | | | 700 | | | | 851 | |
Groupe BPCE SA 1.00% 2025 | | | 10,900 | | | | 13,369 | |
Groupe BPCE SA 2.75% 2027 (5-year EUR Mid-Swap + 2.37% on 11/30/2022)1 | | | 1,100 | | | | 1,355 | |
Hannover Rück SE 1.125% 2028 | | | 4,200 | | | | 5,349 | |
Honeywell International, Inc. 0.75% 2032 | | | 2,930 | | | | 3,532 | |
Iberdrola, SA 1.875% junior subordinated perpetual bonds (5-year EUR Annual (vs. 6-month EURIBOR) + 1.592% on 5/22/2023)1 | | | 1,600 | | | | 1,950 | |
Iberdrola, SA 2.25% junior subordinated perpetual bonds (5-year EUR Mid-Swap + 2.574% on 4/28/2029)1 | | | 7,900 | | | | 9,701 | |
Indonesia (Republic of) 0.90% 2027 | | | 1,980 | | | | 2,379 | |
Ireland (Republic of) 0.90% 2028 | | | 280 | | | | 357 | |
Ireland (Republic of) 0.20% 2030 | | | 6,830 | | | | 8,201 | |
Ireland (Republic of) 0% 2031 | | | 8,880 | | | | 10,361 | |
Israel (State of) 2.875% 2024 | | | 7,700 | | | | 9,876 | |
Israel (State of) 1.50% 2027 | | | 4,275 | | | | 5,485 | |
Israel (State of) 1.50% 2029 | | | 3,875 | | | | 5,037 | |
Italy (Republic of) 0.05% 2023 | | | 2,600 | | | | 3,105 | |
Italy (Republic of) 1.85% 2025 | | | 30,640 | | | | 39,059 | |
Italy (Republic of) 0.85% 2027 | | | 27,055 | | | | 33,195 | |
Italy (Republic of) 0.95% 2027 | | | 20,340 | | | | 25,050 | |
Italy (Republic of) 0.25% 2028 | | | 208,810 | | | | 245,228 | |
Italy (Republic of) 2.80% 2028 | | | 41,144 | | | | 57,014 | |
Italy (Republic of) 1.35% 2030 | | | 690 | | | | 867 | |
Italy (Republic of) 1.65% 2030 | | | 10,580 | | | | 13,582 | |
Italy (Republic of) 1.45% 2036 | | | 17,940 | | | | 21,931 | |
Italy (Republic of) 4.00% 2037 | | | 2,200 | | | | 3,600 | |
Italy (Republic of) 1.80% 2041 | | | 3,360 | | | | 4,162 | |
Italy (Republic of) 1.50% 2045 | | | 263 | | | | 303 | |
Italy (Republic of) 3.85% 2049 | | | 1,740 | | | | 3,007 | |
Italy Buoni Poliennali Del Tesoro 0.90% 2031 | | | 48,910 | | | | 58,683 | |
Latvia (Republic of) 0% 2029 | | | 760 | | | | 901 | |
Latvia (Republic of) 0% 2031 | | | 8,610 | | | | 10,080 | |
Lloyds Banking Group PLC 1.75% 2028 (5-year EUR-EURIBOR + 1.30% on 9/7/2023)1 | | | 12,400 | | | | 15,233 | |
Luxembourg (Grand Duchy of) 0% 2032 | | | 271 | | | | 318 | |
LYB International Finance BV 1.625% 2031 | | | 500 | | | | 638 | |
LYB International Finance II BV 0.875% 2026 | | | 1,000 | | | | 1,217 | |
Marsh & McLennan Companies, Inc. 1.349% 2026 | | | 1,890 | | | | 2,371 | |
Marsh & McLennan Companies, Inc. 1.979% 2030 | | | 1,000 | | | | 1,322 | |
Medtronic Global Holdings SCA 1.125% 2027 | | | 9,500 | | | | 11,898 | |
Medtronic Global Holdings SCA 1.00% 2031 | | | 7,720 | | | | 9,539 | |
Medtronic Global Holdings SCA 1.375% 2040 | | | 1,426 | | | | 1,726 | |
Metropolitan Life Global Funding I 0.875% 20222 | | | 1,000 | | | | 1,195 | |
Morocco (Kingdom of) 1.375% 2026 | | | 4,305 | | | | 5,185 | |
Morocco (Kingdom of) 2.00% 2030 | | | 4,895 | | | | 5,760 | |
Morocco (Kingdom of) 1.50% 2031 | | | 14,230 | | | | 15,876 | |
Morocco (Kingdom of) 1.50% 2031 | | | 9,350 | | | | 10,432 | |
Orange SA 2.00% 2029 | | | 400 | | | | 536 | |
Petroleos Mexicanos 5.50% 2025 | | | 16,330 | | | | 21,248 | |
Petróleos Mexicanos 2.50% 2021 | | | 1,000 | | | | 1,188 | |
Philip Morris International, Inc. 2.875% 2026 | | | 3,500 | | | | 4,690 | |
Philip Morris International, Inc. 0.80% 2031 | | | 7,210 | | | | 8,525 | |
Philippines (Republic of) 0.25% 2025 | | | 9,880 | | | | 11,769 | |
Philippines (Republic of) 0.70% 2029 | | | 5,480 | | | | 6,478 | |
Portuguese Republic 1.95% 2029 | | | 820 | | | | 1,117 | |
Portuguese Republic 0.475% 2030 | | | 9,770 | | | | 11,813 | |
Portuguese Republic 0.30% 2031 | | | 2,080 | | | | 2,444 | |
Portuguese Republic 0.90% 2035 | | | 1,170 | | | | 1,424 | |
Portuguese Republic 4.10% 2045 | | | 1,200 | | | | 2,304 | |
Portuguese Republic 1.00% 2052 | | | 370 | | | | 400 | |
Quebec (Province of) 0.25% 2031 | | | 5,980 | | | | 7,083 | |
Raytheon Technologies Corp. 2.15% 2030 | | | 3,400 | | | | 4,514 | |
Romania 2.75% 2026 | | | 1,000 | | | | 1,314 | |
Romania 1.375% 2029 | | | 7,630 | | | | 9,038 | |
Romania 3.624% 2030 | | | 61,514 | | | | 84,489 | |
Romania 3.624% 2030 | | | 24,575 | | | | 33,754 | |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
Euros (continued) | | | | | | | | |
Romania 2.00% 2032 | | € | 8,730 | | | $ | 10,486 | |
Romania 2.00% 2033 | | | 45,445 | | | | 53,576 | |
Romania 3.50% 2034 | | | 4,435 | | | | 6,006 | |
Romania 3.875% 2035 | | | 14,800 | | | | 20,657 | |
Russian Federation 2.875% 2025 | | | 15,600 | | | | 20,245 | |
Russian Federation 2.875% 2025 | | | 8,200 | | | | 10,642 | |
Santander Issuances, SA Unipersonal 3.25% 2026 | | | 7,200 | | | | 9,626 | |
Serbia (Republic of) 3.125% 2027 | | | 65,463 | | | | 86,505 | |
Serbia (Republic of) 3.125% 2027 | | | 5,390 | | | | 7,122 | |
Serbia (Republic of) 1.50% 2029 | | | 18,583 | | | | 22,247 | |
Spain (Kingdom of) 0.80% 2027 | | | 21,150 | | | | 26,386 | |
Spain (Kingdom of) 1.40% 2028 | | | 2,455 | | | | 3,187 | |
Spain (Kingdom of) 1.45% 2029 | | | 10,215 | | | | 13,335 | |
Spain (Kingdom of) 0.50% 2030 | | | 3,030 | | | | 3,660 | |
Spain (Kingdom of) 1.25% 2030 | | | 31,859 | | | | 40,912 | |
Spain (Kingdom of) 0.10% 2031 | | | 4,015 | | | | 4,617 | |
Spain (Kingdom of) 0.50% 2031 | | | 8,779 | | | | 10,429 | |
Spain (Kingdom of) 1.85% 2035 | | | 1,780 | | | | 2,412 | |
Spain (Kingdom of) 2.70% 2048 | | | 7,290 | | | | 11,350 | |
Spain (Kingdom of) 1.45% 2071 | | | 240 | | | | 251 | |
State Grid Europe Development PLC 1.50% 2022 | | | 1,325 | | | | 1,585 | |
State Grid Overseas Investment, Ltd. 1.25% 2022 | | | 6,625 | | | | 7,940 | |
State Grid Overseas Investment, Ltd. 1.375% 2025 | | | 2,050 | | | | 2,539 | |
State Grid Overseas Investment, Ltd. 2.125% 2030 | | | 800 | | | | 1,041 | |
Stryker Corp. 0.25% 2024 | | | 5,290 | | | | 6,339 | |
Stryker Corp. 0.75% 2029 | | | 5,230 | | | | 6,348 | |
Stryker Corp. 1.00% 2031 | | | 2,410 | | | | 2,953 | |
Sweden (Kingdom of) 0.125% 2023 | | | 3,000 | | | | 3,602 | |
Takeda Pharmaceutical Company, Ltd. 0.75% 2027 | | | 3,230 | | | | 3,932 | |
Teva Pharmaceutical Finance Netherlands II BV 1.125% 2024 | | | 12,330 | | | | 13,736 | |
TOTAL SA 1.75% junior subordinated perpetual bonds (5-year EUR-EURIBOR + 1.765%on 4/4/2024)1 | | | 3,980 | | | | 4,844 | |
Toyota Motor Credit Corp. 0.625% 2024 | | | 1,000 | | | | 1,218 | |
Tunisia (Republic of) 6.75% 2023 | | | 7,208 | | | | 8,293 | |
Tunisia (Republic of) 5.625% 2024 | | | 11,070 | | | | 12,274 | |
Tunisia (Republic of) 6.375% 2026 | | | 13,500 | | | | 14,834 | |
Turkey (Republic of) 4.375% 2027 | | | 6,910 | | | | 8,141 | |
Ukraine 6.75% 2026 | | | 18,930 | | | | 24,543 | |
Ukraine 6.75% 2026 | | | 6,625 | | | | 8,589 | |
Ukraine 4.375% 2030 | | | 15,050 | | | | 16,708 | |
Ukraine 4.375% 2030 | | | 1,800 | | | | 1,998 | |
UniCredit SpA 4.875% 2029 (5-year EUR-ICE Swap EURIBOR + 4.739% on 2/20/2024)1 | | | 7,750 | | | | 10,032 | |
Veolia Environnement 1.59% 2028 | | | 1,900 | | | | 2,450 | |
Verizon Communications, Inc. 0.375% 2029 | | | 12,350 | | | | 14,527 | |
Verizon Communications, Inc. 1.25% 2030 | | | 6,000 | | | | 7,477 | |
Verizon Communications, Inc. 0.75% 2032 | | | 6,025 | | | | 7,064 | |
Volkswagen Financial Services AG 1.375% 2023 | | | 5,480 | | | | 6,722 | |
Volkswagen Leasing GMBH 0.50% 2022 | | | 760 | | | | 908 | |
Wellcome Trust, Ltd. 1.125% 2027 | | | 3,000 | | | | 3,786 | |
Westlake Chemical Corp. 1.625% 2029 | | | 1,750 | | | | 2,173 | |
| | | | | | | 2,616,459 | |
| | | | | | | | |
Chinese yuan renminbi 9.09% | | | | | | | | |
Agricultural Development Bank of China 3.75% 2029 | | CNY | 58,370 | | | | 9,176 | |
Agricultural Development Bank of China 2.96% 2030 | | | 405,630 | | | | 60,179 | |
China (People’s Republic of), Series 1916, 3.12% 2026 | | | 659,070 | | | | 102,764 | |
China (People’s Republic of), Series INBK, 2.85% 2027 | | | 695,000 | | | | 106,423 | |
China (People’s Republic of), Series IMBK, 3.28% 2027 | | | 87,130 | | | | 13,679 | |
China (People’s Republic of), Series 1915, 3.13% 2029 | | | 75,090 | | | | 11,623 | |
China (People’s Republic of), Series 1906, 3.29% 2029 | | | 245,300 | | | | 38,469 | |
China (People’s Republic of), Series INBK, 3.27% 2030 | | | 490,560 | | | | 76,946 | |
China (People’s Republic of), Series 1910, 3.86% 2049 | | | 1,397,560 | | | | 223,065 | |
China (People’s Republic of), Series INBK, 3.39% 2050 | | | 124,980 | | | | 18,336 | |
China Development Bank Corp., Series 1804, 4.69% 2023 | | | 200,000 | | | | 31,924 | |
China Development Bank Corp., Series 2008, 2.89% 2025 | | | 258,050 | | | | 39,488 | |
China Development Bank Corp., Series 1909, 3.50% 2026 | | | 48,800 | | | | 7,622 | |
China Development Bank Corp., Series 1904, 3.68% 2026 | | | 95,130 | | | | 14,972 | |
China Development Bank Corp., Series 2009, 3.39% 2027 | | | 450,120 | | | | 69,686 | |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
Chinese yuan renminbi (continued) | | | | | | | | |
China Development Bank Corp., Series 2004, 3.43% 2027 | | CNY | 627,420 | | | $ | 97,443 | |
China Development Bank Corp., Series 1715, 4.24% 2027 | | | 602,200 | | | | 97,401 | |
China Development Bank Corp., Series 1805, 4.04% 2028 | | | 1,018,480 | | | | 163,171 | |
China Development Bank Corp., Series 1805, 4.88% 2028 | | | 232,310 | | | | 39,008 | |
China Development Bank Corp., Series 1905, 3.48% 2029 | | | 760,500 | | | | 117,556 | |
China Development Bank Corp., Series 2005, 3.07% 2030 | | | 502,770 | | | | 75,216 | |
| | | | | | | 1,414,147 | |
| | | | | | | | |
Japanese yen 9.09% | | | | | | | | |
Banco Santander, SA 0.568% 2023 | | ¥ | 600,000 | | | | 5,421 | |
Bank of China/Tokyo 0.42% 2021 | | | 700,000 | | | | 6,305 | |
Banque Federative du Credit Mutuel 0.443% 2023 | | | 100,000 | | | | 905 | |
Export-Import Bank of India 0.59% 2022 | | | 2,400,000 | | | | 21,561 | |
Goldman Sachs Group, Inc. 2.00% 20222 | | | 130,000 | | | | 1,197 | |
Goldman Sachs Group, Inc. 2.00% 20222 | | | 110,000 | | | | 1,012 | |
Goldman Sachs Group, Inc. 2.80% 20222 | | | 100,000 | | | | 914 | |
Goldman Sachs Group, Inc. 2.84% 20222 | | | 120,000 | | | | 1,099 | |
Goldman Sachs Group, Inc. 2.86% 20222 | | | 100,000 | | | | 917 | |
Goldman Sachs Group, Inc. 2.86% 20222 | | | 100,000 | | | | 915 | |
Groupe BPCE SA 0.64% 2022 | | | 2,800,000 | | | | 25,268 | |
Groupe BPCE SA 0.645% 2023 | | | 1,500,000 | | | | 13,591 | |
HSBC Holdings PLC 0.45% 2021 | | | 200,000 | | | | 1,801 | |
Hungary 0.52% 2023 | | | 200,000 | | | | 1,803 | |
Indonesia (Republic of) 0.54% 2022 | | | 800,000 | | | | 7,223 | |
Indonesia (Republic of) 0.89% 2022 | | | 700,000 | | | | 6,343 | |
Indonesia (Republic of) 0.92% 2023 | | | 100,000 | | | | 911 | |
Indonesia (Republic of) 1.13% 2023 | | | 1,100,000 | | | | 10,066 | |
Intesa Sanpaolo SpA 1.36% 2022 | | | 600,000 | | | | 5,429 | |
Japan, Series 17, 0.10% 20233 | | | 2,913,440 | | | | 26,526 | |
Japan, Series 19, 0.10% 20243 | | | 8,866,416 | | | | 81,054 | |
Japan, Series 18, 0.10% 20243 | | | 2,563,320 | | | | 23,410 | |
Japan, Series 20, 0.10% 20253 | | | 3,383,280 | | | | 30,987 | |
Japan, Series 341, 0.30% 2025 | | | 1,567,450 | | | | 14,366 | |
Japan, Series 21, 0.10% 20263 | | | 3,079,250 | | | | 28,322 | |
Japan, Series 346, 0.10% 2027 | | | 10,502,200 | | | | 95,569 | |
Japan, Series 23, 0.10% 20283 | | | 24,387,206 | | | | 225,291 | |
Japan, Series 24, 0.10% 20293 | | | 9,516,163 | | | | 88,126 | |
Japan, Series 362, 0.10% 2031 | | | 4,310,250 | | | | 38,963 | |
Japan, Series 145, 1.70% 2033 | | | 8,945,000 | | | | 95,390 | |
Japan, Series 152, 1.20% 2035 | | | 26,678,800 | | | | 272,092 | |
Japan, Series 161, 0.60% 2037 | | | 2,087,600 | | | | 19,675 | |
Japan, Series 173, 0.40% 2040 | | | 462,750 | | | | 4,147 | |
Japan, Series 42, 1.70% 2044 | | | 3,145,000 | | | | 35,456 | |
Japan, Series 53, 0.60% 2046 | | | 971,800 | | | | 8,782 | |
Japan, Series 37, 0.60% 2050 | | | 5,218,850 | | | | 46,053 | |
Japan, Series 70, 0.70% 2051 | | | 2,521,150 | | | | 22,754 | |
Korea National Oil Corp. 0.24% 2022 | | | 100,000 | | | | 900 | |
KT Corp. 0.38% 2021 | | | 1,600,000 | | | | 14,402 | |
KT Corp. 0.22% 2022 | | | 4,900,000 | | | | 44,064 | |
Lloyds Banking Group PLC 0.65% 2023 | | | 400,000 | | | | 3,620 | |
Malayan Banking Bhd. 0.27% 2022 | | | 400,000 | | | | 3,602 | |
Philippines (Republic of) 0.38% 2021 | | | 800,000 | | | | 7,202 | |
Philippines (Republic of) 0.001% 2024 | | | 5,700,000 | | | | 50,972 | |
PT Perusahaan Listrik Negara 0.43% 2022 | | | 400,000 | | | | 3,575 | |
Renault SA 0.50% 2022 | | | 100,000 | | | | 893 | |
Santander Consumer Finance SA 0.325% 2022 | | | 100,000 | | | | 897 | |
Société Générale 0.804% 2023 | | | 100,000 | | | | 907 | |
Tunisia (Republic of) 3.28% 2027 | | | 700,000 | | | | 4,487 | |
United Mexican States 0.62% 2022 | | | 200,000 | | | | 1,806 | |
United Mexican States 0.60% 2023 | | | 700,000 | | | | 6,324 | |
| | | | | | | 1,413,295 | |
| | | | | | | | |
British pounds 3.94% | | | | | | | | |
Comcast Corp. 1.50% 2029 | | £ | 600 | | | | 834 | |
Comcast Corp. 1.875% 2036 | | | 400 | | | | 549 | |
Electricité de France SA 6.00% 2114 | | | 700 | | | | 1,734 | |
Fiserv, Inc. 2.25% 2025 | | | 150 | | | | 218 | |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
British pounds (continued) | | | | | | | | |
HSBC Holdings PLC 3.00% 2030 (1-year EUR Annual (vs. 6-month GBP-LIBOR) + 1.77% on 5/29/2029)1 | | £ | 8,000 | | | $ | 11,975 | |
HSBC Holdings PLC 5.375% 2030 (3-month GBP-LIBOR + 1.50% on 11/4/2025)1 | | | 840 | | | | 1,362 | |
Lloyds Banking Group PLC 7.625% 2025 | | | 450 | | | | 773 | |
National Grid Transco PLC 1.375% 2026 | | | 290 | | | | 406 | |
National Grid Transco PLC 4.00% 2027 | | | 2,460 | | | | 3,920 | |
Nestlé Finance International, Ltd. 2.25% 2023 | | | 400 | | | | 580 | |
United Kingdom 0.50% 2022 | | | 6,130 | | | | 8,523 | |
United Kingdom 1.75% 2022 | | | 19,400 | | | | 27,378 | |
United Kingdom 2.25% 2023 | | | 4,650 | | | | 6,738 | |
United Kingdom 0.625% 2025 | | | 2,100 | | | | 2,949 | |
United Kingdom 4.25% 2027 | | | 9,590 | | | | 16,443 | |
United Kingdom 1.625% 2028 | | | 7,195 | | | | 10,724 | |
United Kingdom 0.875% 2029 | | | 10,250 | | | | 14,428 | |
United Kingdom 0.375% 2030 | | | 91,040 | | | | 121,685 | |
United Kingdom 4.75% 2030 | | | 37,600 | | | | 71,109 | |
United Kingdom 0.25% 2031 | | | 16,000 | | | | 20,887 | |
United Kingdom 4.25% 2032 | | | 21,361 | | | | 40,049 | |
United Kingdom 4.50% 2034 | | | 16,000 | | | | 31,795 | |
United Kingdom 0.625% 2035 | | | 64,338 | | | | 83,831 | |
United Kingdom 1.75% 2037 | | | 9,800 | | | | 14,826 | |
United Kingdom 3.25% 2044 | | | 16,550 | | | | 32,046 | |
United Kingdom 3.50% 2045 | | | 17,895 | | | | 36,270 | |
United Kingdom 0.875% 2046 | | | 1,830 | | | | 2,329 | |
United Kingdom 1.50% 2047 | | | 6,460 | | | | 9,457 | |
United Kingdom 0.625% 2050 | | | 9,480 | | | | 11,149 | |
United Kingdom 1.25% 2051 | | | 9,588 | | | | 13,278 | |
United Kingdom 1.625% 2054 | | | 1,550 | | | | 2,379 | |
United Kingdom 0.50% 2061 | | | 5,660 | | | | 6,191 | |
Vodafone Group PLC 5.625% 2025 | | | 540 | | | | 905 | |
Volkswagen Financial Services NV 0.875% 2025 | | | 1,300 | | | | 1,795 | |
Volkswagen Group of America Finance, LLC 3.375% 2026 | | | 700 | | | | 1,076 | |
Wal-Mart Stores, Inc. 5.625% 20342 | | | 1,000 | | | | 2,050 | |
| | | | | | | 612,641 | |
| | | | | | | | |
Canadian dollars 2.14% | | | | | | | | |
AT&T, Inc. 5.10% 2048 | | C$ | 400 | | | | 371 | |
Canada 1.00% 2022 | | | 16,200 | | | | 13,176 | |
Canada 2.25% 2025 | | | 125,860 | | | | 107,213 | |
Canada 0.25% 2026 | | | 48,390 | | | | 37,742 | |
Canada 2.25% 2029 | | | 156,005 | | | | 135,460 | |
Canada 3.50% 2045 | | | 2,970 | | | | 3,202 | |
Canada 2.75% 2048 | | | 22,100 | | | | 21,390 | |
Canada 2.00% 2051 | | | 3,000 | | | | 2,508 | |
National Australia Bank, Ltd. 3.515% (3-month Canada BA + 1.58% on 6/12/2025)1 | | | 5,472 | | | | 4,652 | |
Nova Scotia (Province of) 2.10% 2027 | | | 4,000 | | | | 3,336 | |
Saskatchewan (Province of) 2.65% 2027 | | | 4,000 | | | | 3,443 | |
Verizon Communications, Inc. 3.625% 2050 | | | 1,280 | | | | 1,002 | |
| | | | | | | 333,495 | |
| | | | | | | | |
Danish kroner 1.97% | | | | | | | | |
Nordea Kredit 0.50% 20404 | | DKr | 110,299 | | | | 16,861 | |
Nykredit Realkredit AS, Series 01E, 2.00% 20374 | | | 22,173 | | | | 3,730 | |
Nykredit Realkredit AS, Series 01E, 0.50% 20404 | | | 706,326 | | | | 108,349 | |
Nykredit Realkredit AS, Series 01E, 1.50% 20404 | | | 125,843 | | | | 20,684 | |
Nykredit Realkredit AS, Series 01E, 0.50% 20434 | | | 922,754 | | | | 140,372 | |
Nykredit Realkredit AS, Series 01E, 2.50% 20474 | | | 10,110 | | | | 1,718 | |
Nykredit Realkredit AS, Series 01E, 0.50% 20504 | | | 101,088 | | | | 14,947 | |
| | | | | | | 306,661 | |
| | | | | | | | |
Mexican pesos 1.96% | | | | | | | | |
América Móvil, SAB de CV, 8.46% 2036 | | MXN | 15,000 | | | | 758 | |
Petróleos Mexicanos 7.65% 2021 | | | 109,930 | | | | 5,515 | |
Petróleos Mexicanos 7.19% 2024 | | | 340,342 | | | | 16,178 | |
Petróleos Mexicanos 7.47% 2026 | | | 518,589 | | | | 23,369 | |
United Mexican States, Series M20, 10.00% 2024 | | | 920,247 | | | | 51,587 | |
United Mexican States, Series M, 5.75% 2026 | | | 359,000 | | | | 17,527 | |
United Mexican States, Series M, 7.50% 2027 | | | 3,273,150 | | | | 171,290 | |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
Mexican pesos (continued) | | | | | | | | |
United Mexican States, Series M20, 8.50% 2029 | | MXN | 255,770 | | | $ | 14,132 | |
United Mexican States, Series M, 7.75% 2031 | | | 27,451 | | | | 1,455 | |
United Mexican States, Series M, 7.75% 2042 | | | 32,600 | | | | 1,683 | |
United Mexican States, Series M, 8.00% 2047 | | | 21,982 | | | | 1,164 | |
| | | | | | | 304,658 | |
| | | | | | | | |
Brazilian reais 1.87% | | | | | | | | |
Brazil (Federative Republic of) 0% 2021 | | BRL | 681,000 | | | | 135,232 | |
Brazil (Federative Republic of) 6.00% 20223 | | | 413,762 | | | | 86,983 | |
Brazil (Federative Republic of) 6.00% 20233 | | | 47,583 | | | | 10,159 | |
Brazil (Federative Republic of) 6.00% 20243 | | | 263,003 | | | | 57,064 | |
Brazil (Federative Republic of) 6.00% 20283 | | | 585 | | | | 132 | |
Brazil (Federative Republic of) 6.00% 20303 | | | 197,535 | | | | 756 | |
| | | | | | | 290,326 | |
| | | | | | | | |
Australian dollars 1.52% | | | | | | | | |
Australia (Commonwealth of), Series 152, 2.75% 2028 | | A$ | 75,775 | | | | 63,177 | |
Australia (Commonwealth of), Series 163, 1.00% 2031 | | | 187,220 | | | | 133,313 | |
Australia (Commonwealth of), Series 157, 1.50% 2031 | | | 5,000 | | | | 3,755 | |
Australia (Commonwealth of), Series 165, 1.75% 2032 | | | 27,580 | | | | 21,000 | |
Australia (Commonwealth of), Series 162, 1.75% 2051 | | | 22,000 | | | | 14,603 | |
| | | | | | | 235,848 | |
| | | | | | | | |
Russian rubles 1.41% | | | | | | | | |
Russian Federation 7.00% 2023 | | RUB | 1,629,400 | | | | 22,412 | |
Russian Federation 7.10% 2024 | | | 184,000 | | | | 2,539 | |
Russian Federation 7.15% 2025 | | | 1,430,830 | | | | 19,782 | |
Russian Federation 8.15% 2027 | | | 829,755 | | | | 11,999 | |
Russian Federation 2.50% 20283 | | | 84,545 | | | | 1,139 | |
Russian Federation 6.90% 2029 | | | 1,895,875 | | | | 25,830 | |
Russian Federation 7.65% 2030 | | | 5,699,890 | | | | 81,148 | |
Russian Federation 5.90% 2031 | | | 467,680 | | | | 5,878 | |
Russian Federation 8.50% 2031 | | | 619,940 | | | | 9,356 | |
Russian Federation 7.70% 2033 | | | 1,872,510 | | | | 26,864 | |
Russian Federation 7.25% 2034 | | | 941,725 | | | | 13,062 | |
| | | | | | | 220,009 | |
| | | | | | | | |
Malaysian ringgits 0.99% | | | | | | | | |
Malaysia (Federation of), Series 0116, 3.80% 2023 | | MYR | 10,770 | | | | 2,691 | |
Malaysia (Federation of), Series 0417, 3.899% 2027 | | | 89,000 | | | | 22,599 | |
Malaysia (Federation of), Series 0513, 3.733% 2028 | | | 24,500 | | | | 6,166 | |
Malaysia (Federation of), Series 0219, 3.885% 2029 | | | 34,600 | | | | 8,764 | |
Malaysia (Federation of), Series 0318, 4.642% 2033 | | | 51,000 | | | | 13,350 | |
Malaysia (Federation of), Series 0415, 4.254% 2035 | | | 6,900 | | | | 1,734 | |
Malaysia (Federation of), Series 0317, 4.762% 2037 | | | 8,830 | | | | 2,287 | |
Malaysia (Federation of), Series 0418, 4.893% 2038 | | | 91,858 | | | | 24,027 | |
Malaysia (Federation of), Series 0219, 4.467% 2039 | | | 44,000 | | | | 10,806 | |
Malaysia (Federation of), Series 0519, 3.757% 2040 | | | 109,039 | | | | 24,724 | |
Malaysia (Federation of), Series 0216, 4.736% 2046 | | | 35,205 | | | | 8,942 | |
Malaysia (Federation of), Series 0518, 4.921% 2048 | | | 72,726 | | | | 18,753 | |
Malaysia (Federation of), Series 0519, 4.638% 2049 | | | 12,140 | | | | 3,003 | |
Malaysia (Federation of), Series 0120, 4.065% 2050 | | | 24,289 | | | | 5,624 | |
| | | | | | | 153,470 | |
| | | | | | | | |
Indonesian rupiah 0.59% | | | | | | | | |
Indonesia (Republic of), Series 63, 5.625% 2023 | | IDR | 4,100,000 | | | | 290 | |
Indonesia (Republic of), Series 81, 6.50% 2025 | | | 10,958,000 | | | | 794 | |
Indonesia (Republic of), Series 86, 5.50% 2026 | | | 22,542,000 | | | | 1,562 | |
Indonesia (Republic of), Series 59, 7.00% 2027 | | | 99,456,000 | | | | 7,282 | |
Indonesia (Republic of), Series 78, 8.25% 2029 | | | 405,736,000 | | | | 31,242 | |
Indonesia (Republic of), Series 82, 7.00% 2030 | | | 271,232,000 | | | | 19,377 | |
Indonesia (Republic of), Series 87, 6.50% 2031 | | | 102,374,000 | | | | 7,016 | |
Indonesia (Republic of), Series 74, 7.50% 2032 | | | 40,550,000 | | | | 2,956 | |
Indonesia (Republic of), Series 65, 6.625% 2033 | | | 101,376,000 | | | | 6,979 | |
Indonesia (Republic of), Series 68, 8.375% 2034 | | | 178,668,000 | | | | 13,668 | |
| | | | | | | 91,166 | |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
Colombian pesos 0.56% | | | | | | | | |
Colombia (Republic of), Series B, 7.50% 2026 | | COP | 4,565,700 | | | $ | 1,289 | |
Colombia (Republic of) 5.75% 2027 | | | 211,726,000 | | | | 54,052 | |
Colombia (Republic of), Series B, 6.00% 2028 | | | 7,834,300 | | | | 2,006 | |
Colombia (Republic of), Series B, 7.75% 2030 | | | 2,311,200 | | | | 643 | |
Colombia (Republic of), Series B, 7.00% 2032 | | | 1,559,800 | | | | 406 | |
Colombia (Republic of), Series B, 7.25% 2034 | | | 12,211,500 | | | | 3,191 | |
Colombia (Republic of) 7.25% 2050 | | | 105,659,600 | | | | 25,788 | |
| | | | | | | 87,375 | |
| | | | | | | | |
Indian rupees 0.45% | | | | | | | | |
HDFC Bank, Ltd. 7.95% 2026 | | INR | 200,000 | | | | 2,898 | |
India (Republic of) 5.15% 2025 | | | 3,920,630 | | | | 51,816 | |
National Highways Authority of India 7.17% 2021 | | | 920,000 | | | | 12,566 | |
National Highways Authority of India 7.27% 2022 | | | 210,000 | | | | 2,905 | |
| | | | | | | 70,185 | |
| | | | | | | | |
Czech korunas 0.39% | | | | | | | | |
Czech Republic 0% 2024 | | CZK | 467,700 | | | | 20,741 | |
Czech Republic 1.25% 2025 | | | 689,300 | | | | 31,759 | |
Czech Republic 1.20% 2031 | | | 200,000 | | | | 8,811 | |
| | | | | | | 61,311 | |
| | | | | | | | |
Norwegian kroner 0.34% | | | | | | | | |
Norway (Kingdom of) 1.75% 2025 | | NKr | 378,000 | | | | 45,099 | |
Norway (Kingdom of) 1.50% 2026 | | | 50,000 | | | | 5,918 | |
Norway (Kingdom of) 1.375% 2030 | | | 16,010 | | | | 1,868 | |
| | | | | | | 52,885 | |
| | | | | | | | |
Ukrainian hryvnia 0.27% | | | | | | | | |
Ukraine 15.36% 2021 | | UAH | 9,699 | | | | 362 | |
Ukraine 14.91% 2022 | | | 156,567 | | | | 6,029 | |
Ukraine 16.06% 2022 | | | 299,325 | | | | 11,616 | |
Ukraine 17.00% 2022 | | | 332,718 | | | | 12,886 | |
Ukraine 17.25% 2022 | | | 103,990 | | | | 3,992 | |
Ukraine 10.00% 2023 | | | 17,650 | | | | 624 | |
Ukraine 11.67% 2023 | | | 3,154 | | | | 115 | |
Ukraine 15.84% 2025 | | | 149,360 | | | | 6,070 | |
Ukraine 15.84% 2025 | | | 9,100 | | | | 370 | |
| | | | | | | 42,064 | |
| | | | | | | | |
South Korean won 0.26% | | | | | | | | |
South Korea (Republic of), Series 2712, 2.375% 2027 | | KRW | 43,869,200 | | | | 39,974 | |
| | | | | | | | |
Polish zloty 0.14% | | | | | | | | |
Poland (Republic of), Series 1024, 2.25% 2024 | | PLN | 35,000 | | | | 9,633 | |
Poland (Republic of), Series 1029, 2.75% 2029 | | | 42,490 | | | | 12,206 | |
| | | | | | | 21,839 | |
| | | | | | | | |
Ghanaian cedi 0.10% | | | | | | | | |
Ghana (Republic of) 16.50% 2023 | | GHS | 12,170 | | | | 2,082 | |
Ghana (Republic of) 18.85% 2023 | | | 76,130 | | | | 13,586 | |
Ghana (Republic of) 19.00% 2026 | | | 2,195 | | | | 384 | |
| | | | | | | 16,052 | |
| | | | | | | | |
South African rand 0.09% | | | | | | | | |
South Africa (Republic of) 8.00% 2030 | | ZAR | 50,650 | | | | 3,367 | |
South Africa (Republic of) 8.875% 2035 | | | 62,800 | | | | 3,995 | |
South Africa (Republic of), Series R-2048, 8.75% 2048 | | | 96,710 | | | | 5,741 | |
South Africa (Republic of), Series R-213, 7.00% 2031 | | | 5,300 | | | | 319 | |
| | | | | | | 13,422 | |
| | | | | | | | |
Thai baht 0.07% | | | | | | | | |
Thailand (Kingdom of) 2.125% 2026 | | THB | 111,000 | | | | 3,686 | |
Thailand (Kingdom of) 3.65% 2031 | | | 162,000 | | | | 5,920 | |
Thailand (Kingdom of) 2.00% 2042 | | | 68,300 | | | | 1,985 | |
| | | | | | | 11,591 | |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
Peruvian nuevos soles 0.07% | | | | | | | | |
Peru (Republic of) 6.15% 2032 | | PEN | 25,955 | | | $ | 7,079 | |
Peru (Republic of) 6.90% 2037 | | | 3,346 | | | | 923 | |
Peru (Republic of) 5.35% 2040 | | | 9,950 | | | | 2,294 | |
| | | | | | | 10,296 | |
| | | | | | | | |
Romanian leu 0.05% | | | | | | | | |
Romania 4.75% 2025 | | RON | 30,000 | | | | 7,768 | |
| | | | | | | | |
Hungarian forints 0.02% | | | | | | | | |
Hungary, Series C, 1.50% 2023 | | HUF | 1,000,000 | | | | 3,389 | |
| | | | | | | | |
Israeli shekels 0.02% | | | | | | | | |
Israel (State of) 2.00% 2027 | | ILS | 5,100 | | | | 1,688 | |
Israel (State of) 5.50% 2042 | | | 1,300 | | | | 632 | |
Israel (State of) 3.75% 2047 | | | 1,780 | | | | 702 | |
| | | | | | | 3,022 | |
| | | | | | | | |
Egyptian pounds 0.02% | | | | | | | | |
Egypt (Arab Republic of) 18.40% 2024 | | EGP | 450 | | | | 32 | |
Egypt (Arab Republic of) 14.292% 2028 | | | 45,850 | | | | 2,894 | |
| | | | | | | 2,926 | |
| | | | | | | | |
Turkish lira 0.01% | | | | | | | | |
Turkey (Republic of) 2.80% 20233 | | TRY | 6,913 | | | | 796 | |
Turkey (Republic of) 4.10% 20243 | | | 1,839 | | | | 223 | |
Turkey (Republic of) 11.70% 2030 | | | 10,625 | | | | 942 | |
| | | | | | | 1,961 | |
| | | | | | | | |
Chilean pesos 0.01% | | | | | | | | |
Chile (Republic of) 5.00% 2028 | | CLP | 1,010,000 | | | | 1,430 | |
| | | | | | | | |
Zambian kwacha 0.00% | | | | | | | | |
Zambia (Republic of) 13.00% 2026 | | ZMW | 7,400 | | | | 179 | |
| | | | | | | | |
U.S. dollars 39.97% | | | | | | | | |
7-Eleven, Inc. 1.30% 20282 | | $ | 487 | | | | 471 | |
7-Eleven, Inc. 1.80% 20312 | | | 9,160 | | | | 8,768 | |
Abbott Laboratories 3.40% 2023 | | | 5,950 | | | | 6,352 | |
Abu Dhabi (Emirate of) 0.75% 20232 | | | 18,355 | | | | 18,491 | |
Abu Dhabi (Emirate of) 1.70% 20312 | | | 630 | | | | 609 | |
Abu Dhabi (Emirate of) 3.875% 2050 | | | 1,000 | | | | 1,155 | |
Abu Dhabi National Energy Company PJSC (TAQA) 3.625% 20232 | | | 580 | | | | 609 | |
Abu Dhabi National Energy Company PJSC (TAQA) 4.875% 20302 | | | 440 | | | | 532 | |
Adobe, Inc. 2.15% 2027 | | | 8,129 | | | | 8,515 | |
Adobe, Inc. 2.30% 2030 | | | 3,595 | | | | 3,748 | |
Advisor Group Holdings, LLC 6.25% 20282 | | | 2,905 | | | | 3,072 | |
Aethon United BR LP / Aethon United Finance Corp. 8.25% 20262 | | | 1,175 | | | | 1,274 | |
Affinity Gaming 6.875% 20272 | | | 1,550 | | | | 1,651 | |
AG Merger Sub II, Inc. 10.75% 20272 | | | 1,663 | | | | 1,852 | |
Air Products and Chemicals, Inc. 1.50% 2025 | | | 1,071 | | | | 1,097 | |
Albertsons Companies, Inc. 3.50% 20292 | | | 825 | | | | 817 | |
Alcoa Netherlands Holding BV 5.50% 20272 | | | 1,480 | | | | 1,607 | |
Alexandria Real Estate Equities, Inc. 3.80% 2026 | | | 1,040 | | | | 1,159 | |
Alexandria Real Estate Equities, Inc. 3.95% 2028 | | | 465 | | | | 526 | |
Alexandria Real Estate Equities, Inc. 2.75% 2029 | | | 131 | | | | 137 | |
Alexandria Real Estate Equities, Inc. 4.50% 2029 | | | 1,000 | | | | 1,175 | |
Alexandria Real Estate Equities, Inc. 1.875% 2033 | | | 494 | | | | 468 | |
Alibaba Group Holding, Ltd. 2.125% 2031 | | | 507 | | | | 499 | |
Alliant Holdings Intermediate, LLC 6.75% 20272 | | | 2,355 | | | | 2,478 | |
Allied Universal Holdco LLC 9.75% 20272 | | | 2,190 | | | | 2,414 | |
Allied Universal Holdco LLC 4.625% 20282 | | | 335 | | | | 336 | |
Allied Universal Holdco LLC 6.00% 20292 | | | 2,295 | | | | 2,330 | |
Allison Transmission Holdings, Inc. 3.75% 20312 | | | 725 | | | | 713 | |
Allstate Corp. 0.75% 2025 | | | 690 | | | | 684 | |
10 | Capital World Bond Fund |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
U.S. dollars (continued) | | | | | | | | |
Allstate Corp. 1.45% 2030 | | $ | 4,000 | | | $ | 3,830 | |
Allstate Corp. 3.85% 2049 | | | 250 | | | | 298 | |
Ally Financial, Inc. 8.00% 2031 | | | 350 | | | | 503 | |
Almonde, Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 8.25% 20255,6 | | | 2,080 | | | | 2,107 | |
Altice France SA 5.125% 20292 | | | 1,164 | | | | 1,171 | |
Altria Group, Inc. 3.40% 2030 | | | 137 | | | | 145 | |
Altria Group, Inc. 5.95% 2049 | | | 2,476 | | | | 3,174 | |
Altria Group, Inc. 3.70% 2051 | | | 2,370 | | | | 2,252 | |
Amazon.com, Inc. 1.65% 2028 | | �� | 812 | | | | 819 | |
Amazon.com, Inc. 1.50% 2030 | | | 6,269 | | | | 6,133 | |
Amazon.com, Inc. 3.875% 2037 | | | 505 | | | | 603 | |
Amazon.com, Inc. 2.50% 2050 | | | 13,505 | | | | 12,791 | |
Ameren Corp. 3.50% 2031 | | | 2,423 | | | | 2,656 | |
American Airlines, Inc. 5.50% 20262 | | | 1,730 | | | | 1,834 | |
American Airlines, Inc. 5.75% 20292 | | | 1,730 | | | | 1,873 | |
American Campus Communities, Inc. 3.75% 2023 | | | 3,090 | | | | 3,240 | |
American Campus Communities, Inc. 4.125% 2024 | | | 1,945 | | | | 2,118 | |
American Campus Communities, Inc. 3.30% 2026 | | | 1,500 | | | | 1,611 | |
American Campus Communities, Inc. 3.625% 2027 | | | 1,575 | | | | 1,716 | |
American Honda Finance Corp. 0.55% 2024 | | | 1,500 | | | | 1,496 | |
American Honda Finance Corp. 3.55% 2024 | | | 1,000 | | | | 1,076 | |
American Honda Finance Corp. 1.20% 2025 | | | 527 | | | | 531 | |
American Honda Finance Corp. 1.80% 2031 | | | 1,000 | | | | 989 | |
American International Group, Inc. 3.90% 2026 | | | 475 | | | | 530 | |
American International Group, Inc. 3.40% 2030 | | | 5,285 | | | | 5,800 | |
American International Group, Inc. 4.80% 2045 | | | 500 | | | | 627 | |
American International Group, Inc. 4.375% 2050 | | | 1,273 | | | | 1,552 | |
American Tower Corp. 1.60% 2026 | | | 2,105 | | | | 2,129 | |
American Tower Corp. 2.70% 2031 | | | 1,271 | | | | 1,312 | |
AmerisourceBergen Corp. 2.70% 2031 | | | 5,000 | | | | 5,133 | |
Amgen, Inc. 1.90% 2025 | | | 3,077 | | | | 3,189 | |
Amgen, Inc. 2.20% 2027 | | | 2,359 | | | | 2,451 | |
Anglo American Capital PLC 2.25% 20282 | | | 6,609 | | | | 6,691 | |
Anglo American Capital PLC 5.625% 20302 | | | 4,550 | | | | 5,576 | |
Anglo American Capital PLC 2.875% 20312 | | | 3,200 | | | | 3,276 | |
Anglo American Capital PLC 3.95% 20502 | | | 200 | | | | 218 | |
Angola (Republic of) 9.50% 2025 | | | 5,150 | | | | 5,652 | |
Angola (Republic of) 8.25% 2028 | | | 1,900 | | | | 1,988 | |
Angola (Republic of) 8.00% 2029 | | | 6,943 | | | | 7,143 | |
Angola (Republic of) 8.00% 20292 | | | 850 | | | | 874 | |
Anheuser-Busch InBev NV 4.75% 2029 | | | 12,403 | | | | 14,788 | |
Anheuser-Busch InBev NV 4.90% 2031 | | | 2,500 | | | | 3,079 | |
Anheuser-Busch InBev NV 5.55% 2049 | | | 1,767 | | | | 2,433 | |
Anheuser-Busch InBev NV 4.50% 2050 | | | 3,400 | | | | 4,145 | |
Antero Resources Corp. 5.375% 20302 | | | 530 | | | | 542 | |
Apache Corp. 4.625% 2025 | | | 650 | | | | 704 | |
Apache Corp. 4.375% 2028 | | | 1,259 | | | | 1,342 | |
Apache Corp. 5.10% 2040 | | | 550 | | | | 577 | |
Apache Corp. 4.75% 2043 | | | 170 | | | | 177 | |
Apollo Commercial Real Estate Finance, Inc. 4.625% 20292 | | | 1,875 | | | | 1,851 | |
Apple, Inc. 0.55% 2025 | | | 5,925 | | | | 5,865 | |
Apple, Inc. 1.125% 2025 | | | 2,698 | | | | 2,731 | |
Apple, Inc. 1.25% 2030 | | | 1,750 | | | | 1,682 | |
Apple, Inc. 2.375% 2041 | | | 1,625 | | | | 1,579 | |
Apple, Inc. 2.40% 2050 | | | 825 | | | | 775 | |
Apple, Inc. 2.65% 2051 | | | 2,575 | | | | 2,523 | |
Apple, Inc. 2.80% 2061 | | | 1,100 | | | | 1,075 | |
Ardagh Group SA 6.50% 20272,7 | | | 1,220 | | | | 1,284 | |
Ardagh Metal Packaging Finance USA LLC 4.00% 20292 | | | 1,120 | | | | 1,113 | |
Ardagh Packaging Finance 5.25% 20252 | | | 272 | | | | 286 | |
Ardagh Packaging Finance 5.25% 20272 | | | 595 | | | | 608 | |
Aretec Escrow Issuer, Inc. 7.50% 20292 | | | 3,010 | | | | 3,105 | |
Argentine Republic 1.00% 2029 | | | 1,601 | | | | 610 | |
Argentine Republic 0.125% 2030 (0.50% on 7/9/2021)1 | | | 10,080 | | | | 3,636 | |
Argentine Republic 0.125% 2035 (1.125% on 7/9/2021)1 | | | 20,658 | | | | 6,590 | |
Argentine Republic 0.125% 2041 (2.50% on 7/9/2021)1 | | | 6,340 | | | | 2,273 | |
Arthur J. Gallagher & Co. 2.50% 2031 | | | 853 | | | | 862 | |
Arthur J. Gallagher & Co. 3.50% 2051 | | | 122 | | | | 128 | |
Ascent Resources - Utica LLC 7.00% 20262 | | | 1,025 | | | | 1,076 | |
Capital World Bond Fund | 11 |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
U.S. dollars (continued) | | | | | | | | |
Ascent Resources - Utica LLC 8.25% 20282 | | $ | 1,332 | | | $ | 1,468 | |
Ascent Resources - Utica LLC 5.875% 20292 | | | 655 | | | | 656 | |
Associated Materials, LLC 9.00% 20252 | | | 2,263 | | | | 2,404 | |
AssuredPartners, Inc. 7.00% 20252 | | | 1,160 | | | | 1,189 | |
AssuredPartners, Inc. 8.00% 20272 | | | 731 | | | | 781 | |
AssuredPartners, Inc. 5.625% 20292 | | | 630 | | | | 631 | |
AstraZeneca Finance LLC 1.75% 2028 | | | 4,864 | | | | 4,867 | |
AstraZeneca Finance LLC 2.25% 2031 | | | 613 | | | | 623 | |
AstraZeneca PLC 4.00% 2029 | | | 2,000 | | | | 2,300 | |
AstraZeneca PLC 3.00% 2051 | | | 4,464 | | | | 4,625 | |
AT&T, Inc. 2.30% 2027 | | | 3,625 | | | | 3,752 | |
AT&T, Inc. 1.65% 2028 | | | 6,025 | | | | 5,984 | |
AT&T, Inc. 2.75% 2031 | | | 24,351 | | | | 25,338 | |
AT&T, Inc. 2.25% 2032 | | | 5,900 | | | | 5,797 | |
AT&T, Inc. 2.55% 20332 | | | 800 | | | | 793 | |
AT&T, Inc. 3.50% 20532 | | | 705 | | | | 709 | |
Atkore, Inc. 4.25% 20312 | | | 835 | | | | 847 | |
Atlantic City Electric Co. 2.30% 2031 | | | 700 | | | | 709 | |
Atlas LuxCo 4 SARL 4.625% 20282 | | | 260 | | | | 261 | |
ATS Automation Tooling Systems, Inc. 4.125% 20282 | | | 1,332 | | | | 1,368 | |
Avangrid, Inc. 3.20% 2025 | | | 3,900 | | | | 4,192 | |
Avangrid, Inc. 3.80% 2029 | | | 3,000 | | | | 3,389 | |
Avantor Funding, Inc. 4.625% 20282 | | | 1,570 | | | | 1,660 | |
Avis Budget Car Rental, LLC 5.75% 20272 | | | 1,135 | | | | 1,185 | |
Avis Budget Group, Inc. 5.25% 20252 | | | 627 | | | | 636 | |
Avis Budget Group, Inc. 4.75% 20282 | | | 800 | | | | 821 | |
Avis Budget Group, Inc. 5.375% 20292 | | | 590 | | | | 615 | |
Axalta Coating Systems LLC 4.75% 20272 | | | 1,210 | | | | 1,271 | |
Axiata SPV5 Labuan, Ltd. 3.064% 2050 | | | 682 | | | | 655 | |
Axiata SPV2 Bhd. 2.163% 2030 | | | 651 | | | | 643 | |
Azul Investments LLP 7.25% 20262 | | | 1,775 | | | | 1,744 | |
B&G Foods, Inc. 5.25% 2025 | | | 577 | | | | 593 | |
B&G Foods, Inc. 5.25% 2027 | | | 1,200 | | | | 1,251 | |
Bahrain (Kingdom of) 6.125% 2022 | | | 400 | | | | 419 | |
Baidu, Inc. 3.425% 2030 | | | 2,275 | | | | 2,467 | |
Baker Hughes, a GE Co. 4.486% 2030 | | | 2,288 | | | | 2,701 | |
Banco do Brasil SA (Cayman) 3.875% 2022 | | | 1,300 | | | | 1,339 | |
Banff Merger Sub, Inc. 9.75% 20262 | | | 1,075 | | | | 1,133 | |
Bangkok Bank PCL 4.05% 2024 | | | 1,210 | | | | 1,312 | |
Bangkok Bank PCL 4.45% 2028 | | | 470 | | | | 542 | |
Bangkok Bank PCL 9.025% 2029 | | | 980 | | | | 1,376 | |
Bangkok Bank PCL 3.733% 2034 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.90% on 9/25/2029)1 | | | 9,080 | | | | 9,438 | |
Bangkok Bank PCL 3.733% 2034 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.90% on 9/25/2029)1,2 | | | 290 | | | | 301 | |
Bank of America Corp. 0.976% 2025 (USD-SOFR + 0.69% on 4/22/2024)1 | | | 17,050 | | | | 17,110 | |
Bank of America Corp. 1.319% 2026 (USD-SOFR + 1.15% on 6/19/2025)1 | | | 15,500 | | | | 15,540 | |
Bank of America Corp. 1.658% 2027 (USD-SOFR + 0.91% on 3/11/2026)1 | | | 3,820 | | | | 3,852 | |
Bank of America Corp. 1.734% 2027 (USD-SOFR + 0.96% on 7/22/2026)1 | | | 13,616 | | | | 13,728 | |
Bank of America Corp. 1.898% 2031 (USD-SOFR + 1.53% on 7/23/2030)1 | | | 14,210 | | | | 13,827 | |
Bank of America Corp. 1.922% 2031 (USD-SOFR + 1.37% on 10/24/2030)1 | | | 1,703 | | | | 1,661 | |
Bank of America Corp. 2.496% 2031 (3-month USD-LIBOR + 0.99% on 2/13/2030)1 | | | 8,240 | | | | 8,422 | |
Bank of America Corp. 2.687% 2032 (USD-SOFR + 1.32% on 4/22/2031)1 | | | 5,165 | | | | 5,317 | |
Bank of America Corp. 3.311% 2042 (USD-SOFR + 1.58% on 4/22/2041)1 | | | 1,214 | | | | 1,286 | |
Bank of America Corp. 4.083% 2051 (3-month USD-LIBOR + 3.15% on 3/20/2050)1 | | | 10,400 | | | | 12,452 | |
Bank of Montreal, junior subordinated, 3.803% 2032 (USD Semi Annual 30/360 (vs. 3-month USD-LIBOR) + 1.432% on 12/15/2027)1,2 | | | 1,984 | | | | 2,190 | |
Bank of Nova Scotia 1.35% 2026 | | | 7,269 | | | | 7,274 | |
Bausch Health Companies, Inc. 9.25% 20262 | | | 8,085 | | | | 8,804 | |
Bausch Health Companies, Inc. 5.75% 20272 | | | 1,225 | | | | 1,304 | |
Bausch Health Companies, Inc. 4.875% 20282 | | | 1,690 | | | | 1,732 | |
Bausch Health Companies, Inc. 5.00% 20282 | | | 570 | | | | 542 | |
Bausch Health Companies, Inc. 5.25% 20312 | | | 1,115 | | | | 1,044 | |
Bayer US Finance II LLC 3.875% 20232 | | | 5,690 | | | | 6,096 | |
Bayer US Finance II LLC 4.25% 20252 | | | 2,557 | | | | 2,852 | |
Bayer US Finance II LLC 4.375% 20282 | | | 500 | | | | 573 | |
Bayer US Finance II LLC 4.875% 20482 | | | 300 | | | | 377 | |
Bayerische Motoren Werke AG 2.95% 20222 | | | 2,000 | | | | 2,044 | |
Bayerische Motoren Werke AG 3.80% 20232 | | | 2,028 | | | | 2,146 | |
12 | Capital World Bond Fund |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
U.S. dollars (continued) | | | | | | | | |
Bayerische Motoren Werke AG 3.15% 20242 | | $ | 2,555 | | | $ | 2,726 | |
Bayerische Motoren Werke AG 3.90% 20252 | | | 5,000 | | | | 5,516 | |
Bayerische Motoren Werke AG 4.15% 20302 | | | 5,000 | | | | 5,838 | |
Bayerische Motoren Werke AG 2.55% 20312 | | | 1,737 | | | | 1,801 | |
Beasley Mezzanine Holdings, LLC 8.625% 20262 | | | 725 | | | | 734 | |
Becton, Dickinson and Company 2.894% 2022 | | | 3,095 | | | | 3,164 | |
Becton, Dickinson and Company 3.734% 2024 | | | 5,427 | | | | 5,914 | |
Becton, Dickinson and Company 2.823% 2030 | | | 1,950 | | | | 2,044 | |
Becton, Dickinson and Company 3.794% 2050 | | | 1,444 | | | | 1,622 | |
Belarus (Republic of) 6.875% 2023 | | | 8,560 | | | | 8,525 | |
Belarus (Republic of) 5.875% 20262 | | | 1,500 | | | | 1,392 | |
Belarus (Republic of) 7.625% 2027 | | | 31,500 | | | | 30,823 | |
Berkshire Hathaway Energy Company 3.70% 2030 | | | 4,025 | | | | 4,569 | |
Berkshire Hathaway Energy Company 2.85% 2051 | | | 2,062 | | | | 2,000 | |
Berkshire Hathaway Finance Corp. 4.25% 2049 | | | 3,000 | | | | 3,734 | |
Black Knight, Inc. 3.625% 20282 | | | 2,080 | | | | 2,072 | |
Blue Racer Midstream LLC and Blue Racer Finance Corp. 7.625% 20252 | | | 1,345 | | | | 1,459 | |
Bluestar Finance Holdings Ltd. 3.10% junior subordinated perpetual bonds (3-year UST Yield Curve Rate T Note Constant Maturity + 5.634% on 7/12/2024)1 | | | 326 | | | | 330 | |
BMC Software, Inc. 7.125% 20252 | | | 215 | | | | 231 | |
BMC Software, Inc. 9.125% 20262 | | | 645 | | | | 683 | |
BMW Finance NV 2.40% 20242 | | | 3,000 | | | | 3,145 | |
BNP Paribas 2.871% 2032 (USD-SOFR + 1.387% on 4/19/2032)1,2 | | | 14,000 | | | | 14,388 | |
Boeing Company 4.875% 2025 | | | 4,675 | | | | 5,241 | |
Boeing Company 2.75% 2026 | | | 2,634 | | | | 2,753 | |
Boeing Company 5.04% 2027 | | | 3,317 | | | | 3,829 | |
Boeing Company 5.15% 2030 | | | 2,055 | | | | 2,435 | |
Boeing Company 5.93% 2060 | | | 975 | | | | 1,349 | |
Bombardier, Inc. 6.125% 20232 | | | 415 | | | | 438 | |
Bombardier, Inc. 7.50% 20252 | | | 975 | | | | 1,005 | |
Bombardier, Inc. 7.125% 20262 | | | 1,100 | | | | 1,153 | |
Bombardier, Inc. 7.875% 20272 | | | 4,475 | | | | 4,648 | |
Bombardier, Inc. 7.45% 20342 | | | 1,340 | | | | 1,441 | |
Booz Allen Hamilton, Inc. 4.00% 20292 | | | 140 | | | | 143 | |
Boston Scientific Corp. 3.375% 2022 | | | 1,750 | | | | 1,797 | |
Boston Scientific Corp. 3.45% 2024 | | | 2,780 | | | | 2,969 | |
Boston Scientific Corp. 2.65% 2030 | | | 1,500 | | | | 1,553 | |
Boston Scientific Corp. 4.70% 2049 | | | 360 | | | | 461 | |
Boyd Gaming Corp. 4.75% 2027 | | | 1,605 | | | | 1,663 | |
Boyd Gaming Corp. 4.75% 20312 | | | 325 | | | | 338 | |
Boyne USA, Inc. 4.75% 20292 | | | 285 | | | | 295 | |
BP Capital Markets America, Inc. 1.749% 2030 | | | 5,521 | | | | 5,394 | |
Braskem SA 4.50% 20302 | | | 4,050 | | | | 4,230 | |
Brightstar Escrow Corp. 9.75% 20252 | | | 810 | | | | 875 | |
Bristol-Myers Squibb Company 1.45% 2030 | | | 1,417 | | | | 1,369 | |
Bristow Group, Inc. 6.875% 20282 | | | 1,125 | | | | 1,149 | |
British American Tobacco PLC 3.215% 2026 | | | 4,902 | | | | 5,205 | |
British American Tobacco PLC 3.557% 2027 | | | 7,988 | | | | 8,559 | |
British American Tobacco PLC 4.70% 2027 | | | 775 | | | | 876 | |
British American Tobacco PLC 2.259% 2028 | | | 1,611 | | | | 1,601 | |
British American Tobacco PLC 3.462% 2029 | | | 5,900 | | | | 6,239 | |
British American Tobacco PLC 4.906% 2030 | | | 2,443 | | | | 2,809 | |
British American Tobacco PLC 2.726% 2031 | | | 1,542 | | | | 1,524 | |
British American Tobacco PLC 4.758% 2049 | | | 1,500 | | | | 1,629 | |
Broadcom Corp. / Broadcom Cayman Finance Ltd. 3.875% 2027 | | | 1,667 | | | | 1,843 | |
Broadcom Corp. / Broadcom Cayman Finance Ltd. 3.50% 2028 | | | 2,830 | | | | 3,107 | |
Broadcom, Inc. 4.75% 2029 | | | 1,950 | | | | 2,270 | |
Broadcom, Inc. 4.15% 2030 | | | 5,070 | | | | 5,691 | |
Broadcom, Inc. 3.419% 20332 | | | 5,750 | | | | 6,045 | |
Broadcom, Inc. 3.469% 20342 | | | 8,734 | | | | 9,247 | |
Broadcom, Inc. 3.50% 20412 | | | 1,479 | | | | 1,515 | |
Broadcom, Inc. 3.75% 20512 | | | 465 | | | | 486 | |
BroadStreet Partners, Inc. 5.875% 20292 | | | 1,625 | | | | 1,663 | |
Brookfield Property REIT, Inc. 5.75% 20262 | | | 5,162 | | | | 5,433 | |
Brookfield Residential Properties, Inc. 5.00% 20292 | | | 550 | | | | 556 | |
Burger King Corp. 3.875% 20282 | | | 1,000 | | | | 1,014 | |
Burlington Northern Santa Fe LLC 3.05% 2051 | | | 2,950 | | | | 3,086 | |
BWX Technologies, Inc. 4.125% 20292 | | | 1,370 | | | | 1,397 | |
Cablevision Systems Corp. 6.75% 2021 | | | 5,425 | | | | 5,545 | |
Capital World Bond Fund | 13 |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
U.S. dollars (continued) | | | | | | | | |
Caesars Entertainment, Inc. 6.25% 20252 | | $ | 380 | | | $ | 403 | |
California Resources Corp. 7.125% 20262 | | | 935 | | | | 985 | |
Canadian National Railway Company 3.20% 2046 | | | 190 | | | | 197 | |
Canadian Natural Resources, Ltd. 2.95% 2023 | | | 5,400 | | | | 5,595 | |
Canadian Natural Resources, Ltd. 2.05% 2025 | | | 1,846 | | | | 1,898 | |
Canadian Natural Resources, Ltd. 3.85% 2027 | | | 5,473 | | | | 6,031 | |
Canadian Natural Resources, Ltd. 2.95% 2030 | | | 16,576 | | | | 17,202 | |
Carnival Corp. 11.50% 20232 | | | 12,870 | | | | 14,500 | |
Carnival Corp. 7.625% 20262 | | | 250 | | | | 272 | |
Carrier Global Corp. 2.493% 2027 | | | 750 | | | | 786 | |
Carrier Global Corp. 2.722% 2030 | | | 2,453 | | | | 2,545 | |
Carrier Global Corp. 3.377% 2040 | | | 989 | | | | 1,039 | |
Carrols Restaurant Group, Inc. 5.875% 20292 | | | 875 | | | | 865 | |
Carvana Co. 5.50% 20272 | | | 440 | | | | 456 | |
Catalent, Inc. 3.125% 20292 | | | 345 | | | | 335 | |
CCB Life Insurance Co., Ltd., 4.50% 2077 (5-year UST Yield Curve Rate T Note Constant Maturity + 2.68% on 4/21/2022)1 | | | 250 | | | | 253 | |
CCO Holdings LLC and CCO Holdings Capital Corp. 5.75% 20262 | | | 498 | | | | 516 | |
CCO Holdings LLC and CCO Holdings Capital Corp. 4.50% 20302 | | | 5,950 | | | | 6,203 | |
CCO Holdings LLC and CCO Holdings Capital Corp. 4.75% 20302 | | | 750 | | | | 794 | |
CCO Holdings LLC and CCO Holdings Capital Corp. 2.80% 2031 | | | 3,800 | | | | 3,889 | |
CCO Holdings LLC and CCO Holdings Capital Corp. 4.25% 20312 | | | 1,975 | | | | 2,015 | |
CCO Holdings LLC and CCO Holdings Capital Corp. 2.30% 2032 | | | 2,900 | | | | 2,792 | |
CCO Holdings LLC and CCO Holdings Capital Corp. 4.50% 2032 | | | 320 | | | | 333 | |
CCO Holdings LLC and CCO Holdings Capital Corp. 4.50% 20332 | | | 1,575 | | | | 1,614 | |
CCO Holdings LLC and CCO Holdings Capital Corp. 3.70% 2051 | | | 2,100 | | | | 2,082 | |
CEC Entertainment, Inc. 6.75% 20262 | | | 1,275 | | | | 1,310 | |
Centene Corp. 4.25% 2027 | | | 1,500 | | | | 1,583 | |
Centene Corp. 2.45% 2028 | | | 750 | | | | 761 | |
Centene Corp. 4.625% 2029 | | | 2,565 | | | | 2,824 | |
Centene Corp. 2.50% 2031 | | | 615 | | | | 607 | |
Central Garden & Pet Co. 4.125% 2030 | | | 610 | | | | 625 | |
Central Garden & Pet Co. 4.125% 20312 | | | 280 | | | | 284 | |
Charles River Laboratories International, Inc. 4.25% 20282 | | | 1,050 | | | | 1,087 | |
Charles River Laboratories International, Inc. 3.75% 20292 | | | 205 | | | | 208 | |
Cheniere Energy Partners LP 5.625% 2026 | | | 812 | | | | 844 | |
Cheniere Energy Partners LP 4.50% 2029 | | | 1,220 | | | | 1,313 | |
Cheniere Energy Partners LP 4.00% 20312 | | | 640 | | | | 670 | |
Cheniere Energy, Inc. 4.625% 20282 | | | 3,460 | | | | 3,655 | |
Cheniere Energy, Inc. 3.70% 2029 | | | 1,077 | | | | 1,177 | |
Chesapeake Energy Corp. 5.50% 20262 | | | 640 | | | | 677 | |
Chesapeake Energy Corp. 5.875% 20292 | | | 550 | | | | 596 | |
Chevron Corp. 1.995% 2027 | | | 6,472 | | | | 6,684 | |
Chevron Corp. 2.236% 2030 | | | 983 | | | | 1,014 | |
Chevron USA, Inc. 1.018% 2027 | | | 5,006 | | | | 4,878 | |
Chevron USA, Inc. 2.343% 2050 | | | 886 | | | | 801 | |
China CITIC Bank International, Ltd. 4.625% 2029 (5-year UST Yield Curve Rate T Note Constant Maturity + 2.25% on 2/28/2024)1 | | | 4,300 | | | | 4,569 | |
China Construction Bank Corp. 2.45% 2030 (5-year UST Yield Curve Rate T Note Constant Maturity + 2.15% on 6/24/2025)1 | | | 27,625 | | | | 28,227 | |
China Construction Bank Corp. (Hong Kong Branch) 1.00% 2023 | | | 21,760 | | | | 21,816 | |
Cigna Corp. 3.75% 2023 | | | 3,100 | | | | 3,302 | |
Cigna Corp. 4.125% 2025 | | | 2,615 | | | | 2,932 | |
Cigna Corp. 4.375% 2028 | | | 3,618 | | | | 4,211 | |
Cigna Corp. 2.40% 2030 | | | 250 | | | | 255 | |
Cigna Corp. 2.375% 2031 | | | 1,939 | | | | 1,968 | |
Cinemark USA, Inc. 5.875% 20262 | | | 475 | | | | 499 | |
Cinemark USA, Inc. 5.25% 20282 | | | 670 | | | | 688 | |
Cirsa Gaming Corp. SA 7.875% 20232 | | | 1,708 | | | | 1,745 | |
Citigroup, Inc. 2.75% 2022 | | | 3,354 | | | | 3,416 | |
Citigroup, Inc. 0.981% 2025 (USD-SOFR + 0.669% on 5/1/2024)1 | | | 8,832 | | | | 8,856 | |
Citigroup, Inc. 3.106% 2026 (USD-SOFR + 2.842% on 3/8/2026)1 | | | 25,925 | | | | 27,759 | |
Citigroup, Inc. 1.462% 2027 (USD-SOFR + 0.67% on 6/9/2026)1 | | | 39,914 | | | | 39,789 | |
Citigroup, Inc. 2.976% 2030 (USD-SOFR + 1.422% on 11/5/2029)1 | | | 2,520 | | | | 2,673 | |
Clarivate Science Holdings Corp. 3.875% 20282 | | | 795 | | | | 803 | |
Clarivate Science Holdings Corp. 4.875% 20292 | | | 1,990 | | | | 2,045 | |
Cleveland-Cliffs, Inc. 9.875% 20252 | | | 1,239 | | | | 1,454 | |
Cleveland-Cliffs, Inc. 6.75% 20262 | | | 2,230 | | | | 2,408 | |
Cleveland-Cliffs, Inc. 5.875% 2027 | | | 655 | | | | 689 | |
14 | Capital World Bond Fund |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
U.S. dollars (continued) | | | | | | | | |
Cleveland-Cliffs, Inc. 4.625% 20292 | | $ | 850 | | | $ | 895 | |
Cleveland-Cliffs, Inc. 4.875% 20312 | | | 1,275 | | | | 1,340 | |
CMB International Leasing Management, Ltd. 3.625% 2029 | | | 960 | | | | 1,000 | |
CNX Resources Corp. 7.25% 20272 | | | 955 | | | | 1,025 | |
CNX Resources Corp. 6.00% 20292 | | | 935 | | | | 1,012 | |
Coca-Cola Company 1.00% 2028 | | | 1,210 | | | | 1,174 | |
Coca-Cola Company 1.375% 2031 | | | 1,487 | | | | 1,423 | |
Coca-Cola Company 2.50% 2051 | | | 710 | | | | 670 | |
Cogent Communications Group, Inc. 3.50% 20262 | | | 2,300 | | | | 2,355 | |
Colbun SA 3.95% 20272 | | | 2,445 | | | | 2,675 | |
Colombia (Republic of) 3.25% 2032 | | | 1,620 | | | | 1,591 | |
Comcast Corp. 3.95% 2025 | | | 4,395 | | | | 4,927 | |
Comcast Corp. 2.65% 2030 | | | 4,760 | | | | 5,015 | |
Comcast Corp. 1.50% 2031 | | | 5,500 | | | | 5,216 | |
Comcast Corp. 1.95% 2031 | | | 642 | | | | 634 | |
Comcast Corp. 2.80% 2051 | | | 200 | | | | 193 | |
Comision Federal de Electricidad 4.875% 20242 | | | 3,500 | | | | 3,819 | |
Comisión Federal de Electricidad 4.75% 20272 | | | 370 | | | | 414 | |
Commonwealth Bank of Australia 2.688% 20312 | | | 21,525 | | | | 21,541 | |
Commonwealth Bank of Australia 3.61% 2034 (5-year UST Yield Curve Rate T Note Constant Maturity + 2.05% on 9/12/2029)1,2 | | | 4,161 | | | | 4,409 | |
Commonwealth Bank of Australia 3.305% 20412 | | | 8,293 | | | | 8,457 | |
Community Health Systems, Inc. 5.625% 20272 | | | 700 | | | | 748 | |
Community Health Systems, Inc. 6.00% 20292 | | | 1,567 | | | | 1,679 | |
Compass Diversified Holdings 5.25% 20292 | | | 2,635 | | | | 2,744 | |
Comstock Resources, Inc. 6.75% 20292 | | | 1,690 | | | | 1,802 | |
Comstock Resources, Inc. 5.875% 20302 | | | 1,200 | | | | 1,226 | |
Conagra Brands, Inc. 1.375% 2027 | | | 800 | | | | 781 | |
Conagra Brands, Inc. 5.40% 2048 | | | 5,137 | | | | 6,906 | |
Connecticut Light and Power Co. 2.05% 2031 | | | 1,000 | | | | 1,009 | |
Constellation Brands, Inc. 2.65% 2022 | | | 7,000 | | | | 7,199 | |
Constellation Brands, Inc. 2.875% 2030 | | | 839 | | | | 881 | |
Constellation Oil Services Holding SA 10.00% 2024 (100% PIK)2,7,8 | | | 6,822 | | | | 1,944 | |
Constellium SE 3.75% 20292 | | | 970 | | | | 962 | |
Consumers Energy Co. 3.10% 2050 | | | 2,500 | | | | 2,654 | |
Continental Resources, Inc. 5.75% 20312 | | | 95 | | | | 114 | |
CoreCivic, Inc. 8.25% 2026 | | | 2,002 | | | | 2,080 | |
CoreLogic, Inc. 4.50% 20282 | | | 4,255 | | | | 4,223 | |
CoreLogic, Inc., Term Loan, (3-month USD-LIBOR + 6.50%) 7.00% 20295,6 | | | 975 | | | | 984 | |
Corporate Office Properties LP 2.25% 2026 | | | 1,413 | | | | 1,454 | |
Corporate Office Properties LP 2.75% 2031 | | | 806 | | | | 813 | |
Costa Rica (Republic of) 6.125% 20312 | | | 5,775 | | | | 6,140 | |
Costa Rica (Republic of) 7.00% 2044 | | | 3,526 | | | | 3,658 | |
CQP Holdco LP / BIP-V Chinook Holdco LLC 5.50% 20312 | | | 3,855 | | | | 4,022 | |
Crédit Agricole SA 1.907% 2026 (USD-SOFR + 1.676% on 6/16/2025)1,2 | | | 7,000 | | | | 7,141 | |
Credit Suisse Group AG 3.869% 2029 (3-month USD-LIBOR + 1.41% on 1/12/2028)1,2 | | | 5,065 | | | | 5,582 | |
Credit Suisse Group AG 4.194% 2031 (USD-SOFR + 3.73% on 4/1/2030)1,2 | | | 3,862 | | | | 4,344 | |
Credit Suisse Group AG 3.091% 2032 (USD-SOFR + 1.73% on 5/14/2031)1,2 | | | 5,125 | | | | 5,291 | |
Crestwood Midstream Partners LP 6.00% 20292 | | | 1,500 | | | | 1,573 | |
CRH America, Inc. 5.125% 20452 | | | 3,000 | | | | 3,921 | |
Crown Castle International Corp. 2.50% 2031 | | | 950 | | | | 958 | |
CSX Corp. 4.25% 2029 | | | 6,730 | | | | 7,828 | |
CSX Corp. 3.80% 2050 | | | 397 | | | | 455 | |
CSX Corp. 2.50% 2051 | | | 5,700 | | | | 5,191 | |
CVR Partners LP 9.25% 20232 | | | 213 | | | | 214 | |
CVR Partners LP 6.125% 20282 | | | 965 | | | | 990 | |
CVS Health Corp. 3.70% 2023 | | | 426 | | | | 449 | |
CVS Health Corp. 4.30% 2028 | | | 2,343 | | | | 2,694 | |
DaimlerChrysler North America Holding Corp. 2.00% 20212 | | | 300 | | | | 300 | |
DaimlerChrysler North America Holding Corp. 3.40% 20222 | | | 3,370 | | | | 3,438 | |
DaimlerChrysler North America Holding Corp. 2.45% 20312 | | | 2,200 | | | | 2,258 | |
Dana, Inc. 5.625% 2028 | | | 1,205 | | | | 1,306 | |
Dana, Inc. 4.25% 2030 | | | 525 | | | | 541 | |
Danske Bank AS 2.70% 20222 | | | 7,200 | | | | 7,315 | |
Danske Bank AS 3.875% 20232 | | | 9,700 | | | | 10,329 | |
Darling Ingredients, Inc. 5.25% 20272 | | | 857 | | | | 902 | |
DaVita, Inc. 4.625% 20302 | | | 1,080 | | | | 1,112 | |
Capital World Bond Fund | 15 |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
U.S. dollars (continued) | | | | | | | | |
DCP Midstream LP 7.375% junior subordinated perpetual bonds (3-month USD-LIBOR + 5.148% on 12/15/2022)1 | | $ | 170 | | | $ | 167 | |
Dell International LLC / EMC Corp. 8.10% 2036 | | | 750 | | | | 1,145 | |
Dell International LLC / EMC Corp. 8.35% 2046 | | | 485 | | | | 794 | |
Dell, Inc. 6.50% 2038 | | | 375 | | | | 480 | |
Dell, Inc. 5.40% 2040 | | | 100 | | | | 118 | |
Deluxe Corp. 8.00% 20292 | | | 975 | | | | 1,060 | |
Deutsche Bank AG 2.129% 2026 (USD-SOFR + 1.87% on 11/24/2025)1 | | | 1,875 | | | | 1,904 | |
Deutsche Bank AG 3.547% 2031 (USD-SOFR + 3.043% on 9/18/2030)1 | | | 6,900 | | | | 7,353 | |
Development Bank of Mongolia LLC 7.25% 2023 | | | 700 | | | | 757 | |
Diamond Foreign Asset Co. / Diamond Finance LLC 9.00% 20272,6,7,9,10 | | | 156 | | | | 156 | |
Diamond Foreign Asset Co. / Diamond Finance LLC 9.00% 20276,7,9,10 | | | 142 | | | | 142 | |
Diamond Sports Group LLC 5.375% 20262 | | | 596 | | | | 387 | |
Diamond Sports Group LLC 6.625% 20272 | | | 1,870 | | | | 921 | |
Diamondback Energy, Inc. 4.40% 2051 | | | 2,732 | | | | 3,084 | |
Dianjian Haiyu, Ltd. 3.50% perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity + 6.773% on 6/14/2022)1 | | | 1,001 | | | | 1,014 | |
Dianjian International Finance, Ltd. 4.60% perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity + 6.933% on 3/13/2023)1 | | | 905 | | | | 934 | |
Diebold Nixdorf, Inc. 9.375% 20252 | | | 3,450 | | | | 3,836 | |
Diebold, Inc. 8.50% 2024 | | | 1,125 | | | | 1,153 | |
Discovery Communications, Inc. 3.625% 2030 | | | 2,669 | | | | 2,915 | |
DISH DBS Corp. 5.125% 20292 | | | 1,825 | | | | 1,804 | |
Diversified Healthcare Trust 4.75% 2028 | | | 325 | | | | 321 | |
Diversified Healthcare Trust 4.375% 2031 | | | 1,825 | | | | 1,751 | |
Dominican Republic 5.30% 20412 | | | 150 | | | | 150 | |
Dominican Republic 6.85% 2045 | | | 2,815 | | | | 3,192 | |
Dow Chemical Co. 4.55% 2025 | | | 500 | | | | 570 | |
Dow Chemical Co. 4.80% 2028 | | | 385 | | | | 461 | |
Dow Chemical Co. 2.10% 2030 | | | 1,000 | | | | 989 | |
Dow Chemical Co. 5.55% 2048 | | | 725 | | | | 1,020 | |
Dow Chemical Co. 4.80% 2049 | | | 500 | | | | 644 | |
Dow Chemical Co. 3.60% 2050 | | | 1,000 | | | | 1,082 | |
DPL, Inc. 4.125% 2025 | | | 1,685 | | | | 1,809 | |
DT Midstream, Inc. 4.125% 20292 | | | 1,290 | | | | 1,311 | |
Duke Energy Progress, LLC 3.70% 2028 | | | 6,150 | | | | 6,929 | |
Dun & Bradstreet Corp. 6.875% 20262 | | | 647 | | | | 688 | |
Ecolab, Inc. 2.125% 2050 | | | 1,000 | | | | 894 | |
Edison International 4.125% 2028 | | | 12,001 | | | | 12,783 | |
EDP Finance BV 3.625% 20242 | | | 3,000 | | | | 3,227 | |
Egypt (Arab Republic of) 5.875% 2025 | | | 2,000 | | | | 2,140 | |
Egypt (Arab Republic of) 7.50% 20272 | | | 5,300 | | | | 5,969 | |
Egypt (Arab Republic of) 7.625% 20322 | | | 500 | | | | 532 | |
Elastic NV 4.125% 20292 | | | 600 | | | | 600 | |
Electricité de France SA 3.625% 20252 | | | 760 | | | | 836 | |
Electricité de France SA 4.50% 20282 | | | 1,722 | | | | 2,008 | |
Electricité de France SA 4.875% 20382 | | | 7,267 | | | | 8,950 | |
Electricité de France SA 4.875% 20442 | | | 325 | | | | 410 | |
Electricité de France SA 5.00% 20482 | | | 768 | | | | 1,009 | |
Element Solutions, Inc. 3.875% 20282 | | | 1,060 | | | | 1,083 | |
Eli Lilly and Company 3.375% 2029 | | | 1,435 | | | | 1,613 | |
Embarq Corp. 7.995% 2036 | | | 1,830 | | | | 2,077 | |
Empire Communities Corp. 7.00% 20252 | | | 475 | | | | 500 | |
Empresa Nacional de Electricidad SA 4.25% 2024 | | | 2,100 | | | | 2,249 | |
Empresas Publicas de Medellin ESP 4.25% 20292 | | | 4,935 | | | | 4,899 | |
Enbridge Energy Partners LP 7.375% 2045 | | | 1,737 | | | | 2,736 | |
Enbridge, Inc. 2.50% 2025 | | | 5,000 | | | | 5,243 | |
Enbridge, Inc. 3.40% 2051 | | | 3,697 | | | | 3,722 | |
Encompass Health Corp. 4.50% 2028 | | | 492 | | | | 511 | |
Encompass Health Corp. 4.75% 2030 | | | 900 | | | | 958 | |
Endo DAC / Endo Finance LLC / Endo Finco 9.50% 20272 | | | 2,746 | | | | 2,804 | |
Endo DAC / Endo Finance LLC / Endo Finco 6.00% 20282 | | | 1,561 | | | | 1,055 | |
Endo Luxembourg Finance Co. I SARL / Endo U.S., Inc. 6.125% 20292 | | | 980 | | | | 962 | |
Enel Chile SA 4.875% 2028 | | | 1,435 | | | | 1,659 | |
Enel Finance International SA 2.75% 20232 | | | 21,600 | | | | 22,408 | |
Enel Finance International SA 3.50% 20282 | | | 7,600 | | | | 8,333 | |
Enel Finance International SA 4.75% 20472 | | | 4,218 | | | | 5,203 | |
Enel Società per Azioni 8.75% 2073 (USD Semi Annual 30/360 (vs. 3-month USD-LIBOR) + 5.88% on 9/24/2023)1,2 | | | 10,000 | | | | 11,639 | |
16 | Capital World Bond Fund |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
U.S. dollars (continued) | | | | | | | | |
Energean Israel Finance, Ltd. 4.50% 20242 | | $ | 505 | | | $ | 517 | |
Energizer Holdings, Inc. 4.375% 20292 | | | 1,250 | | | | 1,253 | |
Energy Transfer Operating LP 5.00% 2050 | | | 27,037 | | | | 31,310 | |
Energy Transfer Partners LP 4.20% 2027 | | | 6,690 | | | | 7,399 | |
Energy Transfer Partners LP 5.30% 2047 | | | 550 | | | | 645 | |
Energy Transfer Partners LP 6.00% 2048 | | | 3,997 | | | | 5,061 | |
Energy Transfer Partners LP 6.25% 2049 | | | 3,856 | | | | 5,069 | |
Energy Transfer Partners LP 6.50% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity + 5.694% on 11/15/2026)1 | | | 800 | | | | 818 | |
Enfragen Energia Sur SA 5.375% 20302 | | | 800 | | | | 797 | |
EnLink Midstream Partners, LLC 5.625% 20282 | | | 620 | | | | 657 | |
ENN Clean Energy International Investment, Ltd. 3.375% 20262 | | | 1,600 | | | | 1,633 | |
ENN Energy Holdings, Ltd. 2.625% 20302 | | | 16,695 | | | | 16,689 | |
Entergy Louisiana, LLC 2.90% 2051 | | | 1,250 | | | | 1,235 | |
Enterprise Products Operating LLC 3.20% 2052 | | | 1,757 | | | | 1,747 | |
EQM Midstream Partners LP 6.50% 20272 | | | 2,210 | | | | 2,471 | |
EQM Midstream Partners LP 4.50% 20292 | | | 365 | | | | 372 | |
EQM Midstream Partners LP 4.75% 20312 | | | 355 | | | | 366 | |
EQT Corp. 5.00% 2029 | | | 65 | | | | 73 | |
EQT Corp. 8.50% 2030 (8.25% on 8/1/2021)1 | | | 317 | | | | 413 | |
Equinix, Inc. 3.20% 2029 | | | 7,478 | | | | 8,030 | |
Equinix, Inc. 2.15% 2030 | | | 11,662 | | | | 11,598 | |
Equinix, Inc. 3.00% 2050 | | | 3,418 | | | | 3,288 | |
Equinix, Inc. 2.95% 2051 | | | 1,750 | | | | 1,674 | |
Essex Portfolio LP 3.25% 2023 | | | 2,870 | | | | 2,996 | |
Essex Portfolio LP 3.875% 2024 | | | 3,360 | | | | 3,618 | |
Ethiopia (Federal Democratic Republic of) 6.625% 2024 | | | 11,450 | | | | 10,620 | |
European Investment Bank 2.25% 2022 | | | 4,600 | | | | 4,668 | |
Everi Holdings Inc. 5.00% 20292 | | | 670 | | | | 687 | |
Exelon Corp. 4.70% 2050 | | | 350 | | | | 443 | |
Exxon Mobil Corp. 2.019% 2024 | | | 7,950 | | | | 8,275 | |
Exxon Mobil Corp. 2.44% 2029 | | | 1,617 | | | | 1,695 | |
Exxon Mobil Corp. 2.61% 2030 | | | 980 | | | | 1,034 | |
Exxon Mobil Corp. 3.452% 2051 | | | 803 | | | | 876 | |
Fannie Mae, Series 2001-4, Class GA, 9.00% 20254,6 | | | — | 11 | | | — | 11 |
Fannie Mae Pool #AJ0049 3.00% 20264 | | | 161 | | | | 170 | |
Fannie Mae Pool #AL1381 3.00% 20274 | | | 16 | | | | 17 | |
Fannie Mae Pool #BM4299 3.00% 20304 | | | 1,028 | | | | 1,080 | |
Fannie Mae Pool #FM1465 3.00% 20304 | | | 123 | | | | 130 | |
Fannie Mae Pool #BK0499 3.00% 20344 | | | 389 | | | | 410 | |
Fannie Mae Pool #MA3384 4.00% 20484 | | | 45 | | | | 48 | |
Fannie Mae Pool #FM3217 3.50% 20504 | | | 19,884 | | | | 21,306 | |
Fertitta Entertainment, Inc. 6.75% 20242 | | | 950 | | | | 961 | |
Fidelity National Information Services, Inc. 1.65% 2028 | | | 934 | | | | 930 | |
Fidelity National Information Services, Inc. 2.25% 2031 | | | 1,235 | | | | 1,234 | |
Fidelity National Information Services, Inc. 3.10% 2041 | | | 452 | | | | 464 | |
First Quantum Minerals, Ltd. 7.25% 20232 | | | 1,163 | | | | 1,187 | |
First Quantum Minerals, Ltd. 6.50% 20242 | | | 613 | | | | 627 | |
First Quantum Minerals, Ltd. 7.50% 20252 | | | 3,129 | | | | 3,255 | |
First Quantum Minerals, Ltd. 6.875% 20262 | | | 587 | | | | 615 | |
First Quantum Minerals, Ltd. 6.875% 20272 | | | 1,250 | | | | 1,364 | |
FirstEnergy Corp. 3.35% 20221 | | | 10,000 | | | | 10,168 | |
FirstEnergy Corp. 2.05% 2025 | | | 11,325 | | | | 11,422 | |
FirstEnergy Corp. 1.60% 2026 | | | 7,525 | | | | 7,364 | |
FirstEnergy Corp. 4.40% 20271 | | | 8,588 | | | | 9,349 | |
FirstEnergy Corp. 3.50% 20282 | | | 1,425 | | | | 1,526 | |
FirstEnergy Corp. 2.25% 2030 | | | 2,500 | | | | 2,400 | |
FirstEnergy Corp. 2.65% 2030 | | | 7,434 | | | | 7,415 | |
FirstEnergy Corp. 7.375% 2031 | | | 867 | | | | 1,189 | |
FirstEnergy Corp. 5.35% 20471 | | | 775 | | | | 931 | |
FirstEnergy Corp. 3.40% 2050 | | | 850 | | | | 835 | |
FirstEnergy Transmission LLC 2.866% 20282 | | | 1,700 | | | | 1,763 | |
Fiserv, Inc. 2.25% 2027 | | | 3,860 | | | | 4,006 | |
Five Corners Funding Trust II 2.85% 20302 | | | 3,500 | | | | 3,691 | |
Florida Power & Light Company 2.85% 2025 | | | 1,600 | | | | 1,712 | |
FMG Resources 4.375% 20312 | | | 1,900 | | | | 2,035 | |
Ford Motor Credit Company LLC 3.664% 2024 | | | 419 | | | | 440 | |
Ford Motor Credit Company LLC 3.81% 2024 | | | 1,762 | | | | 1,846 | |
Ford Motor Credit Company LLC 5.584% 2024 | | | 376 | | | | 412 | |
Capital World Bond Fund | 17 |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
U.S. dollars (continued) | | | | | | | | |
Ford Motor Credit Company LLC 5.125% 2025 | | $ | 3,780 | | | $ | 4,167 | |
Ford Motor Credit Company LLC 4.542% 2026 | | | 1,370 | | | | 1,494 | |
Ford Motor Credit Company LLC 3.815% 2027 | | | 2,125 | | | | 2,216 | |
Ford Motor Credit Company LLC 4.125% 2027 | | | 650 | | | | 690 | |
Ford Motor Credit Company LLC 2.90% 2028 | | | 250 | | | | 249 | |
Ford Motor Credit Company LLC 4.00% 2030 | | | 1,915 | | | | 2,008 | |
Fortress Transportation and Infrastructure Investors LLC 5.50% 20282 | | | 565 | | | | 589 | |
Freddie Mac Pool #ZK3775 3.00% 20264 | | | 48 | | | | 51 | |
Freddie Mac Pool #SI2002 4.00% 20484 | | | 248 | | | | 265 | |
Freddie Mac Pool #SD8158 3.50% 20514 | | | 241 | | | | 255 | |
Freddie Mac Pool #SD8164 3.50% 20514 | | | 180 | | | | 191 | |
Freedom Mortgage Corp. 7.625% 20262 | | | 1,800 | | | | 1,876 | |
Freeport-McMoRan, Inc. 3.875% 2023 | | | 250 | | | | 261 | |
Freeport-McMoRan, Inc. 4.25% 2030 | | | 1,575 | | | | 1,689 | |
Freeport-McMoRan, Inc. 5.45% 2043 | | | 560 | | | | 685 | |
Fresnillo PLC 4.25% 20502 | | | 2,560 | | | | 2,607 | |
Front Range BidCo, Inc. 6.125% 20282 | | | 1,500 | | | | 1,534 | |
Frontier Communications Corp. 5.875% 20272 | | | 1,025 | | | | 1,099 | |
Frontier Communications Corp. 5.00% 20282 | | | 927 | | | | 960 | |
Frontier Communications Corp. 6.75% 20292 | | | 1,978 | | | | 2,107 | |
Frontier Communications Holdings, LLC 5.875% 2029 | | | 2,625 | | | | 2,676 | |
FS Energy and Power Fund 7.50% 20232 | | | 4,215 | | | | 4,366 | |
FXI Holdings, Inc. 7.875% 20242 | | | 432 | | | | 447 | |
FXI Holdings, Inc. 12.25% 20262 | | | 3,480 | | | | 4,018 | |
Gabonese Republic 6.95% 2025 | | | 1,750 | | | | 1,901 | |
Gabonese Republic 6.625% 20312 | | | 325 | | | | 328 | |
Gaming and Leisure Properties, Inc. 3.35% 2024 | | | 479 | | | | 509 | |
Gaming and Leisure Properties, Inc. 4.00% 2030 | | | 1,331 | | | | 1,430 | |
Gartner, Inc. 4.50% 20282 | | | 942 | | | | 996 | |
Gartner, Inc. 3.75% 20302 | | | 360 | | | | 369 | |
GC Treasury Center Co., Ltd. 2.98% 20312 | | | 550 | | | | 563 | |
GC Treasury Center Co., Ltd. 4.30% 20512 | | | 500 | | | | 549 | |
GE Capital Funding, LLC 4.05% 2027 | | | 200 | | | | 226 | |
GE Capital Funding, LLC 4.40% 2030 | | | 1,446 | | | | 1,686 | |
General Dynamics Corp. 1.15% 2026 | | | 3,470 | | | | 3,486 | |
General Dynamics Corp. 3.75% 2028 | | | 4,576 | | | | 5,199 | |
General Dynamics Corp. 3.625% 2030 | | | 330 | | | | 373 | |
General Dynamics Corp. 2.25% 2031 | | | 1,089 | | | | 1,118 | |
General Electric Capital Corp. 3.373% 2025 | | | 3,750 | | | | 4,094 | |
General Electric Capital Corp. 4.418% 2035 | | | 600 | | | | 720 | |
General Electric Co. 3.45% 2027 | | | 1,250 | | | | 1,375 | |
General Electric Co. 3.625% 2030 | | | 2,000 | | | | 2,232 | |
General Motors Company 6.80% 2027 | | | 538 | | | | 678 | |
General Motors Financial Co. 3.55% 2022 | | | 1,850 | | | | 1,910 | |
General Motors Financial Co. 5.20% 2023 | | | 6,421 | | | | 6,916 | |
General Motors Financial Co. 2.90% 2025 | | | 1,720 | | | | 1,822 | |
General Motors Financial Co. 1.50% 2026 | | | 1,000 | | | | 995 | |
General Motors Financial Co. 4.00% 2026 | | | 1,000 | | | | 1,105 | |
General Motors Financial Co. 2.40% 2028 | | | 13,300 | | | | 13,511 | |
General Motors Financial Co. 2.70% 2031 | | | 1,150 | | | | 1,157 | |
Genesis Energy LP 8.00% 2027 | | | 3,027 | | | | 3,184 | |
Georgia (Republic of) 2.75% 20262 | | | 2,535 | | | | 2,586 | |
Ghana (Republic of) 6.375% 20272 | | | 480 | | | | 483 | |
GlaxoSmithKline PLC 3.625% 2025 | | | 2,005 | | | | 2,215 | |
GlaxoSmithKline PLC 3.875% 2028 | | | 718 | | | | 824 | |
GlaxoSmithKline PLC 3.375% 2029 | | | 845 | | | | 940 | |
Glencore Funding LLC 1.625% 20262 | | | 15,181 | | | | 15,243 | |
Glencore Funding LLC 2.85% 20312 | | | 4,600 | | | | 4,683 | |
Global Infrastructure Solutions, Inc. 5.625% 20292 | | | 1,650 | | | | 1,714 | |
Global Payments, Inc. 2.90% 2030 | | | 4,027 | | | | 4,201 | |
Goldman Sachs Group, Inc. 3.20% 2023 | | | 2,979 | | | | 3,109 | |
Goldman Sachs Group, Inc. 1.542% 2027 (USD-SOFR + 0.818% on 9/10/2026)1 | | | 5,926 | | | | 5,917 | |
Goldman Sachs Group, Inc. 1.992% 2032 (USD-SOFR + 1.09% on 1/27/2031)1 | | | 3,625 | | | | 3,524 | |
Goldman Sachs Group, Inc. 2.615% 2032 (USD-SOFR + 1.281% on 4/22/2031)1 | | | 15,346 | | | | 15,688 | |
Goldman Sachs Group, Inc. 3.21% 2042 (USD-SOFR + 1.513% on 4/22/2041)1 | | | 3,349 | | | | 3,508 | |
Goodyear Tire & Rubber Co. 5.00% 20292 | | | 2,375 | | | | 2,490 | |
GPC Merger Sub, Inc. 7.125% 20282 | | | 1,210 | | | | 1,307 | |
Gray Oak Pipeline, LLC 3.45% 20272 | | | 3,619 | | | | 3,810 | |
Gray Television, Inc. 7.00% 20272 | | | 1,300 | | | | 1,410 | |
18 | Capital World Bond Fund |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
U.S. dollars (continued) | | | | | | | | |
Groupe BPCE SA 5.70% 20232 | | $ | 850 | | | $ | 942 | |
Groupe BPCE SA 5.15% 20242 | | | 5,000 | | | | 5,573 | |
Grupo Axo, SAPI de CV, 5.75% 20262 | | | 400 | | | | 401 | |
Grupo Energia Bogota SA ESP 4.875% 20302 | | | 3,800 | | | | 4,145 | |
Guara Norte SARL 5.198% 20342 | | | 1,183 | | | | 1,234 | |
Guatemala (Republic of) 4.50% 2026 | | | 1,261 | | | | 1,387 | |
Guatemala (Republic of) 4.375% 2027 | | | 2,710 | | | | 2,962 | |
Guatemala (Republic of) 4.875% 2028 | | | 4,400 | | | | 4,972 | |
Gulf Power Co. 3.30% 2027 | | | 1,508 | | | | 1,654 | |
Hanesbrands, Inc. 4.625% 20242 | | | 635 | | | | 674 | |
Hanesbrands, Inc. 5.375% 20252 | | | 255 | | | | 271 | |
Hanesbrands, Inc. 4.875% 20262 | | | 552 | | | | 597 | |
Harsco Corp. 5.75% 20272 | | | 1,745 | | | | 1,833 | |
Harvest Midstream I LP 7.50% 20282 | | | 1,485 | | | | 1,616 | |
HAT Holdings I LLC / HAT Holdings II LLC 3.375% 20262 | | | 1,000 | | | | 1,009 | |
HCA, Inc. 5.375% 2025 | | | 152 | | | | 172 | |
HCA, Inc. 5.875% 2026 | | | 810 | | | | 938 | |
HCA, Inc. 5.625% 2028 | | | 2,230 | | | | 2,645 | |
HCA, Inc. 3.50% 2030 | | | 50 | | | | 53 | |
HCA, Inc. 5.25% 2049 | | | 675 | | | | 862 | |
Hexion, Inc. 7.875% 20272 | | | 2,445 | | | | 2,641 | |
Hightower Holding, LLC 6.75% 20292 | | | 315 | | | | 322 | |
Hilcorp Energy I LP 5.75% 20292 | | | 1,450 | | | | 1,514 | |
Hilcorp Energy I LP 6.00% 20312 | | | 880 | | | | 934 | |
Hilton Grand Vacations Borrower LLC 5.00% 20292 | | | 2,250 | | | | 2,303 | |
Hilton Worldwide Holdings, Inc. 4.00% 20312 | | | 1,170 | | | | 1,182 | |
Home Depot, Inc. 2.95% 2029 | | | 7,524 | | | | 8,225 | |
Home Depot, Inc. 4.50% 2048 | | | 863 | | | | 1,128 | |
Home Depot, Inc. 2.375% 2051 | | | 1,073 | | | | 995 | |
Honduras (Republic of) 5.625% 20302 | | | 6,430 | | | | 6,761 | |
Honeywell International, Inc. 2.30% 2024 | | | 700 | | | | 735 | |
Honeywell International, Inc. 2.70% 2029 | | | 908 | | | | 976 | |
Howard Hughes Corp. 5.375% 20282 | | | 2,310 | | | | 2,457 | |
Howard Hughes Corp. 4.125% 20292 | | | 325 | | | | 326 | |
Howard Hughes Corp. 4.375% 20312 | | | 250 | | | | 250 | |
Howmet Aerospace, Inc. 6.875% 2025 | | | 755 | | | | 880 | |
HSBC Holdings PLC 4.95% 2030 | | | 2,300 | | | | 2,778 | |
HSBC Holdings PLC 2.848% 2031 (USD-SOFR + 2.387% on 6/4/2030)1 | | | 9,400 | | | | 9,766 | |
Huarong Finance 2017 Co., Ltd., (3-month USD-LIBOR + 1.15%) 1.32% 20226 | | | 800 | | | | 614 | |
Huarong Finance 2017 Co., Ltd., (3-month USD-LIBOR + 0.185%) 2.031% 20226 | | | 4,543 | | | | 3,725 | |
Huarong Finance 2017 Co., Ltd., (3-month USD-LIBOR + 1.325%) 1.525% 20236 | | | 2,492 | | | | 1,857 | |
Huarong Finance 2017 Co., Ltd. 4.75% 2027 | | | 3,899 | | | | 2,734 | |
Huarong Finance 2019 Co., Ltd., (3-month USD-LIBOR + 1.125%) 1.275% 20236 | | | 6,226 | | | | 4,656 | |
Huarong Finance 2019 Co., Ltd. 3.75% 2024 | | | 1,500 | | | | 1,110 | |
Huarong Finance 2019 Co., Ltd. 3.875% 2029 | | | 1,520 | | | | 1,041 | |
Huarong Finance 2019 Co., Ltd. 4.50% 2029 | | | 2,668 | | | | 1,854 | |
Huarong Finance II Co., Ltd. 5.00% 2025 | | | 4,543 | | | | 3,282 | |
Huarong Finance II Co., Ltd. 5.50% 2025 | | | 4,566 | | | | 3,391 | |
Huarong Finance II Co., Ltd. 4.625% 2026 | | | 2,801 | | | | 1,975 | |
Huarong Finance II Co., Ltd. 4.875% 2026 | | | 2,012 | | | | 1,418 | |
HUB International, Ltd. 7.00% 20262 | | | 1,940 | | | | 2,017 | |
Huntsman International LLC 2.95% 2031 | | | 76 | | | | 77 | |
Hyundai Capital America 3.25% 20222 | | | 2,104 | | | | 2,169 | |
Hyundai Capital America 1.25% 20232 | | | 2,205 | | | | 2,227 | |
Hyundai Capital America 0.875% 20242 | | | 8,710 | | | | 8,674 | |
Hyundai Capital America 1.80% 20252 | | | 666 | | | | 677 | |
Hyundai Capital America 1.50% 20262 | | | 6,775 | | | | 6,730 | |
Hyundai Capital America 2.375% 20272 | | | 8,548 | | | | 8,752 | |
Hyundai Capital America 2.00% 20282 | | | 4,375 | | | | 4,345 | |
ICBCIL Finance Co., Ltd. 3.625% 2027 | | | 1,820 | | | | 1,963 | |
Independence Energy Finance LLC 7.25% 20262 | | | 850 | | | | 895 | |
Ingles Markets, Inc. 4.00% 20312 | | | 1,840 | | | | 1,840 | |
Intelsat Jackson Holding Co., Term Loan, (3-month USD-LIBOR + 5.50%) 6.50% 20215,6 | | | 1,827 | | | | 1,850 | |
International Flavors & Fragrances, Inc. 1.23% 20252 | | | 2,500 | | | | 2,488 | |
International Flavors & Fragrances, Inc. 1.832% 20272 | | | 844 | | | | 842 | |
International Flavors & Fragrances, Inc. 2.30% 20302 | | | 1,500 | | | | 1,493 | |
International Flavors & Fragrances, Inc. 3.268% 20402 | | | 1,000 | | | | 1,028 | |
International Flavors & Fragrances, Inc. 3.468% 20502 | | | 1,750 | | | | 1,822 | |
| |
Capital World Bond Fund | 19 |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
U.S. dollars (continued) | | | | | | | | |
International Game Technology PLC 6.50% 20252 | | $ | 2,235 | | | $ | 2,509 | |
International Game Technology PLC 4.125% 20262 | | | 620 | | | | 646 | |
International Game Technology PLC 5.25% 20292 | | | 440 | | | | 473 | |
Interstate Power and Light Co. 2.30% 2030 | | | 4,150 | | | | 4,217 | |
Intesa Sanpaolo SpA 3.25% 20242 | | | 9,500 | | | | 10,111 | |
Intuit, Inc. 0.95% 2025 | | | 4,770 | | | | 4,785 | |
Inversiones Latin America Power 5.125% 20332 | | | 960 | | | | 953 | |
Investment Energy Resources, Ltd. 6.25% 20292 | | | 290 | | | | 314 | |
IPALCO Enterprises, Inc. 3.70% 2024 | | | 275 | | | | 296 | |
Iqvia, Inc. 5.00% 20272 | | | 1,500 | | | | 1,576 | |
Iraq (Republic of) 6.752% 20232 | | | 2,200 | | | | 2,256 | |
Iron Mountain, Inc. 5.25% 20302 | | | 1,795 | | | | 1,903 | |
Iron Mountain, Inc. 4.50% 20312 | | | 810 | | | | 821 | |
Israel (State of) 2.50% 2030 | | | 21,810 | | | | 22,889 | |
Israel (State of) 2.75% 2030 | | | 3,540 | | | | 3,783 | |
Israel (State of) 3.375% 2050 | | | 8,310 | | | | 8,897 | |
Israel (State of) 3.875% 2050 | | | 3,895 | | | | 4,517 | |
Jazz Securities DAC 4.375% 20292 | | | 200 | | | | 208 | |
JBS Luxembourg SARL 3.625% 20322 | | | 1,270 | | | | 1,271 | |
Jersey Central Power & Light Co. 4.30% 20262 | | | 560 | | | | 620 | |
Johnson & Johnson 1.30% 2030 | | | 4,522 | | | | 4,388 | |
Jordan (Hashemite Kingdom of) 4.95% 2025 | | | 800 | | | | 834 | |
Jordan (Hashemite Kingdom of) 5.85% 20302 | | | 1,300 | | | | 1,358 | |
JPMorgan Chase & Co. 1.578% 2027 (USD-SOFR + 0.885% on 4/22/2026)1 | | | 15,529 | | | | 15,617 | |
JPMorgan Chase & Co. 4.493% 2031 (USD-SOFR + 3.79% on 3/24/2030)1 | | | 15,010 | | | | 17,792 | |
JPMorgan Chase & Co. 2.58% 2032 (USD-SOFR + 1.25% on 4/22/2031)1 | | | 293 | | | | 301 | |
JPMorgan Chase & Co. 3.328% 2052 (USD-SOFR + 1.58% on 4/22/2051)1 | | | 4,498 | | | | 4,810 | |
Kantar Group LLC, Term Loan B, (3-month USD-LIBOR + 4.50%) 5.25% 20265,6 | | | 440 | | | | 441 | |
Kasikornbank PC HK 3.343% 2031 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.70% on 10/2/2026)1 | | | 3,740 | | | | 3,834 | |
Kazakhstan (Republic of) 6.50% 2045 | | | 500 | | | | 733 | |
KB Home 6.875% 2027 | | | 2,350 | | | | 2,805 | |
Kennedy-Wilson Holdings, Inc. 4.75% 2029 | | | 2,430 | | | | 2,506 | |
Kennedy-Wilson Holdings, Inc. 5.00% 2031 | | | 1,445 | | | | 1,488 | |
Kenya (Republic of) 6.875% 2024 | | | 9,500 | | | | 10,472 | |
Kenya (Republic of) 6.30% 20342 | | | 300 | | | | 301 | |
Kenya (Republic of) 8.25% 2048 | | | 550 | | | | 607 | |
Keurig Dr Pepper, Inc. 3.20% 2030 | | | 853 | | | | 923 | |
Keurig Dr Pepper, Inc. 5.085% 2048 | | | 1,825 | | | | 2,414 | |
Kimberly-Clark Corp. 3.10% 2030 | | | 668 | | | | 739 | |
Kinder Morgan, Inc. 5.20% 2048 | | | 1,110 | | | | 1,402 | |
Kinder Morgan, Inc. 3.60% 2051 | | | 2,401 | | | | 2,451 | |
Kraft Heinz Company 3.875% 2027 | | | 2,800 | | | | 3,079 | |
Kraft Heinz Company 4.25% 2031 | | | 45 | | | | 51 | |
Kraft Heinz Company 4.625% 2039 | | | 120 | | | | 140 | |
Kraft Heinz Company 5.00% 2042 | | | 1,550 | | | | 1,896 | |
Kraft Heinz Company 5.20% 2045 | | | 830 | | | | 1,032 | |
Kraft Heinz Company 4.375% 2046 | | | 100 | | | | 114 | |
Kronos Acquisition Holdings, Inc. 5.00% 20262 | | | 610 | | | | 620 | |
Kronos Acquisition Holdings, Inc. 7.00% 20272 | | | 1,775 | | | | 1,781 | |
L3Harris Technologies, Inc. 1.80% 2031 | | | 1,575 | | | | 1,531 | |
Laboratory Corporation of America Holdings 2.70% 2031 | | | 2,500 | | | | 2,550 | |
Lamar Media Corp. 3.75% 2028 | | | 1,215 | | | | 1,238 | |
Lamar Media Corp. 3.625% 20312 | | | 125 | | | | 122 | |
LD Holdings Group LLC 6.125% 20282 | | | 950 | | | | 952 | |
Leader Goal International, Ltd. 4.25% perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity + 6.919% on 1/19/2023)1 | | | 1,450 | | | | 1,484 | |
Level 3 Financing, Inc. 3.75% 20292 | | | 900 | | | | 876 | |
Levi Strauss & Co. 3.50% 20312 | | | 190 | | | | 189 | |
LGI Homes, Inc. 4.00% 20292 | | | 750 | | | | 755 | |
Liberty Global PLC 5.50% 20282 | | | 1,175 | | | | 1,235 | |
Ligado Networks LLC 15.50% 2023 (100% PIK)2,7 | | | 1,130 | | | | 1,116 | |
Ligado Networks LLC 17.50% 2024 (100% PIK)2,7 | | | 382 | | | | 296 | |
Lima Metro Line 2 Finance, Ltd. 5.875% 20342 | | | 4,818 | | | | 5,633 | |
Lima Metro Line 2 Finance, Ltd. 5.875% 2034 | | | 3,748 | | | | 4,381 | |
Lima Metro Line 2 Finance, Ltd. 4.35% 20362 | | | 3,300 | | | | 3,424 | |
Limited Brands, Inc. 6.625% 20302 | | | 235 | | | | 272 | |
Limited Brands, Inc. 6.875% 2035 | | | 170 | | | | 215 | |
Lithia Motors, Inc. 3.875% 20292 | | | 600 | | | | 623 | |
| |
20 | Capital World Bond Fund |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
U.S. dollars (continued) | | | | | | | | |
Lithuania (Republic of) 6.625% 20222 | | $ | 2,000 | | | $ | 2,076 | |
Lloyds Banking Group PLC 3.75% 2027 | | | 9,770 | | | | 10,801 | |
Lowe’s Companies, Inc. 1.70% 2030 | | | 1,000 | | | | 959 | |
Lowe’s Companies, Inc. 4.05% 2047 | | | 387 | | | | 447 | |
Lowe’s Companies, Inc. 3.00% 2050 | | | 1,082 | | | | 1,069 | |
LPL Financial Holdings, Inc. 4.625% 20272 | | | 2,250 | | | | 2,338 | |
LPL Financial Holdings, Inc. 4.375% 20312 | | | 655 | | | | 664 | |
LSB Industries, Inc. 9.625% 20232 | | | 4,300 | | | | 4,426 | |
LSC Communications, Inc. 8.75% 20232,8,9,10 | | | 2,502 | | | | 133 | |
LSF9 Atlantis Holdings LLC / Victra Finance Corp. 7.75% 20262 | | | 830 | | | | 862 | |
LYB International Finance III, LLC 1.25% 2025 | | | 484 | | | | 483 | |
LYB International Finance III, LLC 2.875% 2025 | | | 500 | | | | 531 | |
LYB International Finance III, LLC 2.25% 2030 | | | 913 | | | | 913 | |
LYB International Finance III, LLC 3.375% 2030 | | | 500 | | | | 543 | |
LYB International Finance III, LLC 3.375% 2040 | | | 1,000 | | | | 1,038 | |
LYB International Finance III, LLC 3.625% 2051 | | | 2,409 | | | | 2,549 | |
Magic MergerCo, Inc. 5.25% 20282 | | | 800 | | | | 822 | |
Magic MergerCo, Inc. 7.875% 20292 | | | 800 | | | | 826 | |
Mallinckrodt PLC 10.00% 20252 | | | 7,000 | | | | 7,831 | |
Marriott Ownership Resorts, Inc. 4.50% 20292 | | | 180 | | | | 183 | |
Marsh & McLennan Companies, Inc. 3.875% 2024 | | | 370 | | | | 401 | |
Marsh & McLennan Companies, Inc. 4.375% 2029 | | | 160 | | | | 188 | |
Marsh & McLennan Companies, Inc. 2.25% 2030 | | | 351 | | | | 356 | |
Marsh & McLennan Companies, Inc. 4.75% 2039 | | | 500 | | | | 641 | |
Marsh & McLennan Companies, Inc. 4.90% 2049 | | | 1,000 | | | | 1,367 | |
Masco Corp. 1.50% 2028 | | | 1,033 | | | | 1,009 | |
Masco Corp. 2.00% 2031 | | | 994 | | | | 972 | |
Masco Corp. 3.125% 2051 | | | 153 | | | | 152 | |
MasTec, Inc. 4.50% 20282 | | | 575 | | | | 607 | |
McDonald’s Corp. 2.125% 2030 | | | 1,649 | | | | 1,669 | |
MDC Partners, Inc. 7.50% 20241,2 | | | 2,870 | | | | 2,909 | |
Medical Properties Trust, Inc. 3.50% 2031 | | | 1,059 | | | | 1,071 | |
Meituan Dianping 2.125% 2025 | | | 10,930 | | | | 10,853 | |
Meituan Dianping 3.05% 20302 | | | 1,665 | | | | 1,649 | |
Melco International Development, Ltd. 5.375% 20292 | | | 550 | | | | 582 | |
Mercer International, Inc. 5.125% 20292 | | | 685 | | | | 706 | |
Merck & Co., Inc. 1.45% 2030 | | | 1,461 | | | | 1,424 | |
Meredith Corp. 6.875% 2026 | | | 1,262 | | | | 1,314 | |
Methanex Corp. 5.125% 2027 | | | 1,525 | | | | 1,649 | |
Methanex Corp. 5.65% 2044 | | | 1,400 | | | | 1,451 | |
MetLife, Inc. 4.55% 2030 | | | 1,750 | | | | 2,100 | |
Metropolitan Life Global Funding I 3.45% 20212 | | | 2,500 | | | | 2,522 | |
Metropolitan Life Global Funding I 3.375% 20222 | | | 500 | | | | 508 | |
Metropolitan Life Global Funding I 1.95% 20232 | | | 2,000 | | | | 2,048 | |
Metropolitan Life Global Funding I 0.95% 20252 | | | 666 | | | | 666 | |
Metropolitan Life Global Funding I 3.45% 20262 | | | 2,310 | | | | 2,564 | |
Metropolitan Life Global Funding I 3.00% 20272 | | | 1,150 | | | | 1,241 | |
Metropolitan Life Global Funding I 1.55% 20312 | | | 571 | | | | 544 | |
Mexico City Airport Trust 4.25% 2026 | | | 1,278 | | | | 1,391 | |
Mexico City Airport Trust 3.875% 2028 | | | 1,672 | | | | 1,750 | |
Mexico City Airport Trust 5.50% 2046 | | | 2,675 | | | | 2,708 | |
Mexico City Airport Trust 5.50% 2047 | | | 2,947 | | | | 2,991 | |
Mexico City Airport Trust 5.50% 20472 | | | 287 | | | | 291 | |
MGM Growth Properties LLC 3.875% 20292 | | | 770 | | | | 784 | |
MGM Resorts International 7.75% 2022 | | | 3,500 | | | | 3,663 | |
MH Sub I, LLC, Term Loan, (3-month USD-LIBOR + 6.25%) 6.345% 20295,6 | | | 175 | | | | 178 | |
MicroStrategy, Inc. 6.125% 20282 | | | 350 | | | | 350 | |
MidCap Financial Issuer Trust 6.50% 20282 | | | 1,300 | | | | 1,362 | |
MidCap Financial Issuer Trust 5.625% 20302 | | | 1,000 | | | | 1,005 | |
Mitsubishi UFJ Financial Group, Inc. 2.623% 2022 | | | 8,000 | | | | 8,198 | |
Mohegan Gaming & Entertainment 8.00% 20262 | | | 2,535 | | | | 2,652 | |
Molina Healthcare, Inc. 5.375% 2022 | | | 5,635 | | | | 5,913 | |
Molina Healthcare, Inc. 4.375% 20282 | | | 135 | | | | 141 | |
Molina Healthcare, Inc. 3.875% 20302 | | | 460 | | | | 480 | |
MoneyGram International, Inc., Term Loan B, (3-month USD-LIBOR + 6.00%) 7.00% 20235,6 | | | 992 | | | | 1,003 | |
Mongolia (State of) 8.75% 2024 | | | 448 | | | | 517 | |
Morgan Stanley 0.985% 2026 (USD-SOFR + 0.72% on 12/10/2025)1 | | | 14,750 | | | | 14,526 | |
Morgan Stanley 1.593% 2027 (USD-SOFR + 0.879% on 5/4/2026)1 | | | 10,772 | | | | 10,853 | |
| |
Capital World Bond Fund | 21 |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
U.S. dollars (continued) | | | | | | | | |
Morgan Stanley 1.928% 2032 (USD-SOFR + 1.02% on 4/28/2031)1 | | $ | 1,604 | | | $ | 1,561 | |
Movida Europe SA 5.25% 20312 | | | 4,770 | | | | 4,830 | |
Mozambique (Republic of) 5.00% 2031 (9.00% on 9/15/2023)1 | | | 2,100 | | | | 1,786 | |
MPLX LP 2.65% 2030 | | | 9,007 | | | | 9,099 | |
MPLX LP 5.50% 2049 | | | 21,165 | | | | 27,457 | |
MSCI, Inc. 5.375% 20272 | | | 890 | | | | 950 | |
MSCI, Inc. 3.625% 20312 | | | 900 | | | | 924 | |
MSCI, Inc. 3.875% 20312 | | | 2,380 | | | | 2,473 | |
Mueller Water Products, Inc. 4.00% 20292 | | | 865 | | | | 890 | |
MV24 Capital BV 6.748% 2034 | | | 4,267 | | | | 4,734 | |
National Financial Partners Corp. 6.875% 20282 | | | 1,578 | | | | 1,666 | |
National Grid PLC 3.15% 20272 | | | 1,105 | | | | 1,187 | |
Nationstar Mortgage Holdings, Inc. 5.50% 20282 | | | 600 | | | | 606 | |
Navient Corp. 5.50% 2023 | | | 2,441 | | | | 2,578 | |
Navient Corp. 5.875% 2024 | | | 4,030 | | | | 4,358 | |
Navient Corp. 6.125% 2024 | | | 187 | | | | 202 | |
Navient Corp. 4.875% 2028 | | | 530 | | | | 533 | |
NCL Corp., Ltd. 3.625% 20242 | | | 1,680 | | | | 1,625 | |
NCL Corp., Ltd. 5.875% 20262 | | | 700 | | | | 735 | |
NCR Corp. 5.125% 20292 | | | 1,600 | | | | 1,652 | |
Neiman Marcus Group LLC 7.125% 20262 | | | 2,160 | | | | 2,309 | |
Neon Holdings, Inc. 10.125% 20262 | | | 305 | | | | 334 | |
NESCO Holdings II, Inc. 5.50% 20292 | | | 355 | | | | 371 | |
Nestlé Holdings, Inc. 0.625% 20262 | | | 6,692 | | | | 6,574 | |
Nestlé Holdings, Inc. 1.00% 20272 | | | 4,275 | | | | 4,177 | |
Nestle Skin Health SA, Term Loan B3, (3-month USD-LIBOR + 3.75%) 4.50% 20265,6 | | | 2,866 | | | | 2,879 | |
Netflix, Inc. 4.875% 2028 | | | 925 | | | | 1,076 | |
New Fortress Energy, Inc. 6.75% 20252 | | | 650 | | | | 666 | |
New Fortress Energy, Inc. 6.50% 20262 | | | 3,630 | | | | 3,714 | |
New York Life Global Funding 2.30% 20222 | | | 3,000 | | | | 3,061 | |
New York Life Global Funding 0.95% 20252 | | | 842 | | | | 844 | |
New York Life Global Funding 0.85% 20262 | | | 1,750 | | | | 1,731 | |
New York Life Global Funding 1.20% 20302 | | | 11,502 | | | | 10,794 | |
New York Life Insurance Company 3.75% 20502 | | | 2,315 | | | | 2,597 | |
New York State Electric & Gas Corp. 3.25% 20262 | | | 3,000 | | | | 3,271 | |
Newcrest Finance Pty, Ltd. 3.25% 20302 | | | 3,070 | | | | 3,303 | |
Newcrest Finance Pty, Ltd. 4.20% 20502 | | | 671 | | | | 771 | |
Newell Rubbermaid, Inc. 4.70% 2026 | | | 570 | | | | 636 | |
Newell Rubbermaid, Inc. 5.875% 20361 | | | 550 | | | | 680 | |
News Corp. 3.875% 20292 | | | 725 | | | | 733 | |
Nexstar Broadcasting, Inc. 4.75% 20282 | | | 1,477 | | | | 1,519 | |
Nexstar Escrow Corp. 5.625% 20272 | | | 780 | | | | 828 | |
NextEra Energy Capital Holdings, Inc. 1.90% 2028 | | | 7,850 | | | | 7,947 | |
NFP Corp. 4.875% 20282 | | | 1,650 | | | | 1,679 | |
NGL Energy Operating LLC 7.50% 20262 | | | 4,200 | | | | 4,415 | |
NGL Energy Partners LP 7.50% 2023 | | | 2,407 | | | | 2,374 | |
Niagara Mohawk Power Corp. 4.278% 20342 | | | 3,000 | | | | 3,524 | |
Nielsen Finance LLC and Nielsen Finance Co. 5.00% 20252 | | | 650 | | | | 671 | |
Nielsen Finance LLC and Nielsen Finance Co. 5.625% 20282 | | | 730 | | | | 772 | |
NIKE, Inc. 3.375% 2050 | | | 3,450 | | | | 3,894 | |
Norfolk Southern Corp. 3.05% 2050 | | | 816 | | | | 817 | |
Northern Oil and Gas, Inc. 8.125% 20282 | | | 2,215 | | | | 2,390 | |
Northern States Power Co. 2.60% 2051 | | | 1,250 | | | | 1,191 | |
NorthRiver Midstream Finance LP 5.625% 20262 | | | 875 | | | | 910 | |
Northrop Grumman Corp. 3.25% 2028 | | | 4,195 | | | | 4,587 | |
Northrop Grumman Corp. 5.25% 2050 | | | 1,098 | | | | 1,545 | |
Northwestern Mutual Global Funding 0.80% 20262 | | | 889 | | | | 876 | |
Nouryon Holding BV 8.00% 20262 | | | 1,185 | | | | 1,258 | |
Nova Chemicals Corp. 5.00% 20252 | | | 695 | | | | 745 | |
Nova Chemicals Corp. 5.25% 20272 | | | 745 | | | | 804 | |
Nova Chemicals Corp. 4.25% 20292 | | | 1,340 | | | | 1,355 | |
Novartis Capital Corp. 2.20% 2030 | | | 2,555 | | | | 2,641 | |
Novelis Corp. 4.75% 20302 | | | 1,210 | | | | 1,272 | |
Nuveen, LLC 4.00% 20282 | | | 545 | | | | 629 | |
Oasis Midstream Partners LP / OMP Finance Corp. 8.00% 20292 | | | 1,110 | | | | 1,183 | |
Oasis Petroleum, Inc. 6.375% 20262 | | | 680 | | | | 710 | |
Occidental Petroleum Corp. 2.70% 2023 | | | 389 | | | | 399 | |
Occidental Petroleum Corp. 2.90% 2024 | | | 1,144 | | | | 1,171 | |
Occidental Petroleum Corp. 5.875% 2025 | | | 960 | | | | 1,069 | |
| |
22 | Capital World Bond Fund |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
U.S. dollars (continued) | | | | | | | | |
Occidental Petroleum Corp. 8.00% 2025 | | $ | 420 | | | $ | 503 | |
Occidental Petroleum Corp. 6.375% 2028 | | | 1,725 | | | | 2,016 | |
Occidental Petroleum Corp. 3.50% 2029 | | | 670 | | | | 673 | |
Occidental Petroleum Corp. 6.125% 2031 | | | 470 | | | | 554 | |
State of Ohio, Turnpike and Infrastructure Commission, Turnpike Rev. Ref. Bonds (Infrastructure Projects), Series 2020-A, 3.216% 2048 | | | 7,560 | | | | 7,775 | |
Oleoducto Central SA 4.00% 20272 | | | 20,945 | | | | 21,640 | |
Oleoducto Central SA 4.00% 2027 | | | 4,602 | | | | 4,755 | |
Oman (Sultanate of) 6.25% 20312 | | | 2,400 | | | | 2,584 | |
ONEOK, Inc. 4.00% 2027 | | | 84 | | | | 93 | |
ONEOK, Inc. 4.55% 2028 | | | 28 | | | | 32 | |
ONEOK, Inc. 4.35% 2029 | | | 49 | | | | 55 | |
ONEOK, Inc. 3.10% 2030 | | | 918 | | | | 961 | |
ONEOK, Inc. 6.35% 2031 | | | 1,868 | | | | 2,418 | |
ONEOK, Inc. 4.95% 2047 | | | 282 | | | | 332 | |
ONEOK, Inc. 5.20% 2048 | | | 2,947 | | | | 3,617 | |
ONEOK, Inc. 4.45% 2049 | | | 23,173 | | | | 25,664 | |
ONEOK, Inc. 7.15% 2051 | | | 1,831 | | | | 2,698 | |
Oracle Corp. 2.65% 2026 | | | 9,890 | | | | 10,444 | |
Oracle Corp. 3.25% 2027 | | | 8,084 | | | | 8,807 | |
Oracle Corp. 2.875% 2031 | | | 3,286 | | | | 3,420 | |
Oracle Corp. 3.60% 2050 | | | 2,475 | | | | 2,546 | |
Oracle Corp. 3.95% 2051 | | | 2,613 | | | | 2,855 | |
Organon Finance 1 LLC 4.125% 20282 | | | 705 | | | | 720 | |
Organon Finance 1 LLC 5.125% 20312 | | | 1,450 | | | | 1,496 | |
OSW Structured Asset Trust, Series 2020-RPL1, Class A1, 3.072% 20592,4,6 | | | 3,527 | | | | 3,558 | |
Otis Worldwide Corp. 2.056% 2025 | | | 1,000 | | | | 1,040 | |
Otis Worldwide Corp. 2.293% 2027 | | | 1,250 | | | | 1,296 | |
Otis Worldwide Corp. 2.565% 2030 | | | 2,000 | | | | 2,073 | |
Otis Worldwide Corp. 3.362% 2050 | | | 500 | | | | 527 | |
Oversea-Chinese Banking Corp., Ltd. 1.832% 2030 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.58% on 9/10/2025)1,2 | | | 6,017 | | | | 6,034 | |
Owens & Minor, Inc. 4.375% 2024 | | | 2,485 | | | | 2,600 | |
Owens & Minor, Inc. 4.50% 20292 | | | 815 | | | | 838 | |
Pacific Gas and Electric Co. 3.40% 2024 | | | 2,625 | | | | 2,757 | |
Pacific Gas and Electric Co. 2.95% 2026 | | | 5,625 | | | | 5,761 | |
Pacific Gas and Electric Co. 3.15% 2026 | | | 12,500 | | | | 12,902 | |
Pacific Gas and Electric Co. 2.10% 2027 | | | 8,408 | | | | 8,175 | |
Pacific Gas and Electric Co. 3.30% 2027 | | | 6,623 | | | | 6,815 | |
Pacific Gas and Electric Co. 3.30% 2027 | | | 3,740 | | | | 3,876 | |
Pacific Gas and Electric Co. 3.00% 2028 | | | 23,549 | | | | 23,691 | |
Pacific Gas and Electric Co. 4.65% 2028 | | | 11,414 | | | | 12,577 | |
Pacific Gas and Electric Co. 4.55% 2030 | | | 8,758 | | | | 9,375 | |
Pacific Gas and Electric Co. 2.50% 2031 | | | 25,992 | | | | 24,398 | |
Pacific Gas and Electric Co. 3.25% 2031 | | | 6,318 | | | | 6,222 | |
Pacific Gas and Electric Co. 3.30% 2040 | | | 19,545 | | | | 17,693 | |
Pacific Gas and Electric Co. 3.75% 2042 | | | 3,399 | | | | 3,107 | |
Pacific Gas and Electric Co. 3.95% 2047 | | | 222 | | | | 207 | |
Pacific Gas and Electric Co. 3.50% 2050 | | | 6,400 | | | | 5,713 | |
Pacific Gas and Electric Co. 4.95% 2050 | | | 550 | | | | 567 | |
Pakistan (Islamic Republic of) 5.50% 20212 | | | 11,350 | | | | 11,441 | |
Pakistan (Islamic Republic of) 5.50% 2021 | | | 9,120 | | | | 9,193 | |
Pakistan (Islamic Republic of) 5.625% 2022 | | | 12,290 | | | | 12,660 | |
Pakistan (Islamic Republic of) 6.00% 20262 | | | 410 | | | | 416 | |
Panama (Republic of) 3.75% 20262 | | | 1,305 | | | | 1,411 | |
Panama (Republic of) 4.50% 2056 | | | 1,139 | | | | 1,292 | |
Panama (Republic of) 3.87% 2060 | | | 1,940 | | | | 1,986 | |
Panama Bonos Del Tesoro 3.362% 2031 | | | 800 | | | | 803 | |
Panther BF Aggregator 2 LP 6.25% 20262 | | | 154 | | | | 164 | |
Panther BF Aggregator 2 LP 8.50% 20272 | | | 1,175 | | | | 1,282 | |
Paraguay (Republic of) 5.00% 2026 | | | 1,450 | | | | 1,655 | |
Paraguay (Republic of) 4.70% 20272 | | | 1,705 | | | | 1,941 | |
Paraguay (Republic of) 4.70% 2027 | | | 475 | | | | 541 | |
Paraguay (Republic of) 2.739% 20332 | | | 5,620 | | | | 5,494 | |
Paraguay (Republic of) 5.60% 20482 | | | 10,450 | | | | 12,318 | |
Paraguay (Republic of) 5.40% 20502 | | | 8,110 | | | | 9,495 | |
Park Intermediate Holdings LLC 4.875% 20292 | | | 890 | | | | 922 | |
Parker-Hannifin Corp. 3.25% 2029 | | | 70 | | | | 77 | |
Party City Holdings, Inc. 8.75% 20262 | | | 2,946 | | | | 3,149 | |
| |
Capital World Bond Fund | 23 |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
U.S. dollars (continued) | | | | | | | | |
PayPal Holdings, Inc. 2.85% 2029 | | $ | 2,995 | | | $ | 3,234 | |
PayPal Holdings, Inc. 2.30% 2030 | | | 4,178 | | | | 4,328 | |
PayPal Holdings, Inc. 3.25% 2050 | | | 879 | | | | 958 | |
Peabody Energy Corp. 8.50% 2024 (29.41% PIK)2,7 | | | 480 | | | | 363 | |
Peco Energy Co. 2.80% 2050 | | | 1,975 | | | | 1,975 | |
Peninsula Pacific Entertainment LLC 8.50% 20272 | | | 850 | | | | 914 | |
Peru (Republic of) 2.392% 2026 | | | 940 | | | | 972 | |
Petrobras Global Finance Co. 8.75% 2026 | | | 7,350 | | | | 9,456 | |
Petrobras Global Finance Co. 6.75% 2050 | | | 1,305 | | | | 1,528 | |
Petrobras Global Finance Co. 5.50% 2051 | | | 420 | | | | 421 | |
Petróleos Mexicanos 4.875% 2022 | | | 5,060 | | | | 5,160 | |
Petróleos Mexicanos 4.625% 2023 | | | 1,990 | | | | 2,079 | |
Petróleos Mexicanos 6.875% 20252 | | | 10,339 | | | | 11,458 | |
Petróleos Mexicanos 6.875% 2025 | | | 1,205 | | | | 1,335 | |
Petróleos Mexicanos 6.875% 2026 | | | 23,050 | | | | 25,220 | |
Petróleos Mexicanos 6.49% 2027 | | | 370 | | | | 391 | |
Petróleos Mexicanos 6.50% 2027 | | | 3,740 | | | | 3,952 | |
Petróleos Mexicanos 5.35% 2028 | | | 685 | | | | 675 | |
Petróleos Mexicanos 6.35% 2048 | | | 2,785 | | | | 2,377 | |
Petróleos Mexicanos 7.69% 2050 | | | 1,800 | | | | 1,735 | |
Petróleos Mexicanos 6.95% 2060 | | | 776 | | | | 688 | |
PETRONAS Capital, Ltd. 3.50% 20302 | | | 2,215 | | | | 2,430 | |
PETRONAS Capital, Ltd. 4.55% 20502 | | | 4,885 | | | | 6,040 | |
Petrorio Luxembourg SARL 6.125% 20262 | | | 680 | | | | 696 | |
Pfizer, Inc. 2.75% 2026 | | | 915 | | | | 991 | |
Pfizer, Inc. 1.70% 2030 | | | 7,259 | | | | 7,241 | |
PG&E Corp. 5.00% 2028 | | | 3,660 | | | | 3,706 | |
Philip Morris International, Inc. 2.875% 2024 | | | 5,750 | | | | 6,112 | |
Philip Morris International, Inc. 1.75% 2030 | | | 503 | | | | 487 | |
Philip Morris International, Inc. 2.10% 2030 | | | 4,939 | | | | 4,923 | |
Philippines (Republic of) 6.375% 2032 | | | 2,190 | | | | 3,011 | |
Philippines (Republic of) 6.375% 2034 | | | 2,320 | | | | 3,279 | |
Pioneer Natural Resources Company 1.125% 2026 | | | 458 | | | | 454 | |
Pioneer Natural Resources Company 1.90% 2030 | | | 2,990 | | | | 2,883 | |
Pioneer Natural Resources Company 2.15% 2031 | | | 876 | | | | 860 | |
Plains All American Pipeline LP 3.80% 2030 | | | 2,705 | | | | 2,898 | |
Playa Resorts Holding BV, Term Loan B, (3-month USD-LIBOR + 2.75%) 2.869% 20245,6 | | | 1,000 | | | | 963 | |
PLDT, Inc. 2.50% 2031 | | | 380 | | | | 377 | |
PLDT, Inc. 3.45% 2050 | | | 510 | | | | 512 | |
Post Holdings, Inc. 5.625% 20282 | | | 760 | | | | 808 | |
Post Holdings, Inc. 4.625% 20302 | | | 2,675 | | | | 2,723 | |
Power Financial Corp., Ltd. 4.50% 2029 | | | 1,170 | | | | 1,256 | |
Power Financial Corp., Ltd. 3.35% 2031 | | | 6,950 | | | | 6,822 | |
PowerTeam Services, LLC 9.033% 20252 | | | 1,325 | | | | 1,459 | |
Praxair, Inc. 1.10% 2030 | | | 676 | | | | 636 | |
Praxair, Inc. 2.00% 2050 | | | 512 | | | | 441 | |
Precision Drilling Corp. 7.125% 20262 | | | 972 | | | | 1,003 | |
Precision Drilling Corp. 6.875% 20292 | | | 1,200 | | | | 1,238 | |
Prestige Brands International, Inc. 3.75% 20312 | | | 285 | | | | 275 | |
Procter & Gamble Company 0.55% 2025 | | | 3,407 | | | | 3,370 | |
Procter & Gamble Company 1.00% 2026 | | | 651 | | | | 656 | |
Procter & Gamble Company 1.20% 2030 | | | 1,685 | | | | 1,608 | |
Prudential Financial, Inc. 3.905% 2047 | | | 250 | | | | 291 | |
Prudential Financial, Inc. 4.35% 2050 | | | 1,950 | | | | 2,451 | |
Prudential Financial, Inc. 3.70% 2051 | | | 250 | | | | 286 | |
Prudential Financial, Inc., junior subordinated, 5.70% 2048 (3-month USD-LIBOR + 2.665% on 9/15/2028)1 | | | 1,750 | | | | 2,056 | |
PT Bank Negara Indonesia (Persero) Tbk 3.75% 2026 | | | 3,100 | | | | 3,163 | |
PT Indofood CBP Sukses Makmur Tbk 3.398% 2031 | | | 11,920 | | | | 12,106 | |
PT Indonesia Asahan Aluminium Tbk 5.23% 20212 | | | 3,575 | | | | 3,638 | |
PT Indonesia Asahan Aluminium Tbk 6.53% 20282 | | | 1,030 | | | | 1,265 | |
PT Indonesia Asahan Aluminium Tbk 5.45% 20302 | | | 4,160 | | | | 4,842 | |
PTT Exploration and Production PCL 2.587% 20272 | | | 1,460 | | | | 1,516 | |
Public Service Electric and Gas Co. 3.00% 2025 | | | 618 | | | | 663 | |
Public Service Electric and Gas Co. 2.05% 2050 | | | 2,700 | | | | 2,335 | |
Public Service Enterprise Group, Inc. 1.60% 2030 | | | 4,361 | | | | 4,139 | |
Public Storage 0.875% 2026 | | | 401 | | | | 398 | |
Public Storage 1.85% 2028 | | | 1,359 | | | | 1,370 | |
| |
24 | Capital World Bond Fund |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
U.S. dollars (continued) | | | | | | | | |
Public Storage 2.30% 2031 | | $ | 759 | | | $ | 775 | |
Qatar (State of) 4.50% 20222 | | | 3,500 | | | | 3,583 | |
Qatar (State of) 3.875% 20232 | | | 1,855 | | | | 1,972 | |
Qatar (State of) 3.40% 2025 | | | 19,930 | | | | 21,726 | |
Qatar (State of) 3.40% 20252 | | | 8,810 | | | | 9,604 | |
Qatar (State of) 4.50% 20282 | | | 10,775 | | | | 12,737 | |
Qatar (State of) 4.00% 20292 | | | 1,661 | | | | 1,915 | |
Qatar (State of) 4.00% 2029 | | | 675 | | | | 778 | |
Qatar (State of) 5.103% 20482 | | | 2,495 | | | | 3,319 | |
Qatar (State of) 4.40% 20502 | | | 2,145 | | | | 2,616 | |
Qatar Petroleum 1.375% 20262 | | | 9,645 | | | | 9,636 | |
Qatar Petroleum 3.125% 20412 | | | 23,640 | | | | 23,553 | |
Qatar Petroleum 3.30% 20512 | | | 3,110 | | | | 3,110 | |
Qwest Capital Funding, Inc. 6.875% 2028 | | | 350 | | | | 387 | |
Radiology Partners, Inc. 9.25% 20282 | | | 1,339 | | | | 1,485 | |
Range Resources Corp. 8.25% 20292 | | | 1,200 | | | | 1,355 | |
Raptor Acquisition Corp. 4.875% 20262 | | | 2,650 | | | | 2,690 | |
Raptor Acquisition Corp. / Raptor Co-Issuer LLC, Term Loan B, (3-month USD-LIBOR + 4.00%) 4.75% 20265,6 | | | 585 | | | | 587 | |
Rattler Midstream Partners LP 5.625% 20252 | | | 140 | | | | 147 | |
Rayonier A.M. Products, Inc. 7.625% 20262 | | | 130 | | | | 136 | |
Real Hero Merger Sub 2, Inc. 6.25% 20292 | | | 125 | | | | 130 | |
Realogy Corp. 5.75% 20292 | | | 1,185 | | | | 1,240 | |
Regeneron Pharmaceuticals, Inc. 1.75% 2030 | | | 5,949 | | | | 5,644 | |
Renewable Energy Group, Inc. 5.875% 20282 | | | 575 | | | | 605 | |
Reverse Mortgage Investment Trust, Series 2020-1, Class M2, 2.623% 20302,4,6 | | | 445 | | | | 442 | |
Reverse Mortgage Investment Trust, Series 2020-1, Class M3, 2.964% 20302,4,6 | | | 1,275 | | | | 1,271 | |
Reynolds American, Inc. 5.85% 2045 | | | 3,540 | | | | 4,341 | |
RHP Hotel Properties LP / RHP Finance Corp. 4.50% 20292 | | | 325 | | | | 326 | |
Rocket Software, Inc. 6.50% 20292 | | | 1,850 | | | | 1,838 | |
Roper Technologies, Inc. 1.75% 2031 | | | 2,500 | | | | 2,405 | |
Royal Bank of Canada 1.20% 2026 | | | 22,047 | | | | 22,043 | |
Royal Bank of Scotland PLC 4.445% 2030 (3-month USD-LIBOR + 1.871% on 5/5/2029)1 | | | 11,500 | | | | 13,182 | |
Royal Caribbean Cruises, Ltd. 11.50% 20252 | | | 500 | | | | 577 | |
RP Escrow Issuer, LLC 5.25% 20252 | | | 430 | | | | 450 | |
Russian Federation 4.75% 2026 | | | 2,000 | | | | 2,275 | |
Russian Federation 4.25% 2027 | | | 9,600 | | | | 10,734 | |
Russian Federation 4.375% 20292 | | | 400 | | | | 451 | |
Russian Federation 5.10% 2035 | | | 1,000 | | | | 1,191 | |
Russian Federation 5.25% 2047 | | | 1,200 | | | | 1,511 | |
Russian Federation 5.25% 20472 | | | 400 | | | | 504 | |
SA Global Sukuk, Ltd. 0.946% 20242 | | | 955 | | | | 955 | |
SA Global Sukuk, Ltd. 1.602% 20262 | | | 2,690 | | | | 2,691 | |
SA Global Sukuk, Ltd. 2.694% 20312 | | | 13,615 | | | | 13,801 | |
Sabine Pass Liquefaction, LLC 4.50% 2030 | | | 3,833 | | | | 4,428 | |
salesforce.com, inc. 1.95% 2031 | | | 875 | | | | 877 | |
salesforce.com, inc. 2.70% 2041 | | | 375 | | | | 378 | |
salesforce.com, inc. 2.90% 2051 | | | 600 | | | | 609 | |
salesforce.com, inc. 3.05% 2061 | | | 2,650 | | | | 2,701 | |
Sands China, Ltd. 3.80% 2026 | | | 1,065 | | | | 1,141 | |
Sands China, Ltd. 4.375% 2030 | | | 2,155 | | | | 2,338 | |
Santander Holdings USA, Inc. 3.244% 2026 | | | 19,225 | | | | 20,568 | |
Saudi Arabia (Kingdom of) 2.894% 20222 | | | 8,800 | | | | 8,968 | |
Saudi Arabia (Kingdom of) 3.25% 2026 | | | 1,700 | | | | 1,856 | |
Saudi Arabia (Kingdom of) 3.625% 20282 | | | 16,280 | | | | 18,022 | |
Saudi Arabia (Kingdom of) 3.625% 2028 | | | 5,800 | | | | 6,420 | |
Saudi Arabian Oil Co. 1.625% 20252 | | | 2,320 | | | | 2,346 | |
Scentre Group 3.25% 20252 | | | 1,395 | | | | 1,498 | |
Scentre Group 3.50% 20252 | | | 3,250 | | | | 3,495 | |
Scentre Group 3.75% 20272 | | | 2,020 | | | | 2,231 | |
Scientific Games Corp. 5.00% 20252 | | | 1,319 | | | | 1,365 | |
Scientific Games Corp. 8.625% 20252 | | | 500 | | | | 548 | |
Scientific Games Corp. 8.25% 20262 | | | 2,930 | | | | 3,146 | |
SCIH Salt Holdings, Inc. 4.875% 20282 | | | 1,430 | | | | 1,433 | |
SCIH Salt Holdings, Inc. 6.625% 20292 | | | 1,250 | | | | 1,255 | |
Scotts Miracle-Gro Co. 4.50% 2029 | | | 1,290 | | | | 1,343 | |
Sensata Technologies Holding BV 4.00% 20292 | | | 1,785 | | | | 1,814 | |
Service Properties Trust 5.50% 2027 | | | 485 | | | | 518 | |
| |
Capital World Bond Fund | 25 |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
U.S. dollars (continued) | | | | | | | | |
ServiceNow, Inc. 1.40% 2030 | | $ | 10,473 | | | $ | 9,838 | |
Shell International Finance BV 3.50% 2023 | | | 6,611 | | | | 7,062 | |
Shell International Finance BV 3.875% 2028 | | | 2,750 | | | | 3,159 | |
Shell International Finance BV 2.375% 2029 | | | 3,990 | | | | 4,146 | |
Shell International Finance BV 2.75% 2030 | | | 870 | | | | 928 | |
Shell International Finance BV 3.125% 2049 | | | 1,170 | | | | 1,212 | |
Sherwin-Williams Company 2.75% 2022 | | | 73 | | | | 74 | |
Sherwin-Williams Company 3.45% 2027 | | | 1,892 | | | | 2,089 | |
Sherwin-Williams Company 2.95% 2029 | | | 500 | | | | 537 | |
Sherwin-Williams Company 2.30% 2030 | | | 849 | | | | 860 | |
Sherwin-Williams Company 4.50% 2047 | | | 500 | | | | 627 | |
Sherwin-Williams Company 3.80% 2049 | | | 250 | | | | 289 | |
Sherwin-Williams Company 3.30% 2050 | | | 750 | | | | 799 | |
Siam Commercial Bank Public Co., Ltd. 3.90% 2024 | | | 1,210 | | | | 1,300 | |
Simmons Foods, Inc. 4.625% 20292 | | | 1,312 | | | | 1,325 | |
Sinclair Television Group, Inc. 5.125% 20272 | | | 750 | | | | 754 | |
Sinclair Television Group, Inc. 4.125% 20302 | | | 1,700 | | | | 1,672 | |
Sinopec Group Overseas Development (2018), Ltd. 1.45% 20262 | | | 1,775 | | | | 1,778 | |
Sinopec Group Overseas Development (2018), Ltd. 2.30% 20312 | | | 300 | | | | 299 | |
Sinopec Group Overseas Development (2018), Ltd. 3.10% 20512 | | | 3,475 | | | | 3,367 | |
Sirius XM Radio, Inc. 5.00% 20272 | | | 775 | | | | 814 | |
Sirius XM Radio, Inc. 4.00% 20282 | | | 2,025 | | | | 2,088 | |
Six Flags Entertainment Corp. 4.875% 20242 | | | 845 | | | | 855 | |
Sizzling Platter LLC 8.50% 20252 | | | 650 | | | | 673 | |
SK hynix, Inc. 1.50% 20262 | | | 1,252 | | | | 1,236 | |
SK hynix, Inc. 2.375% 20312 | | | 894 | | | | 872 | |
SkyMiles IP, Ltd. 4.75% 20282 | | | 1,587 | | | | 1,766 | |
SM Energy Co. 6.50% 2028 | | | 200 | | | | 206 | |
Solera Holdings, Inc., Term Loan B, (3-month USD-LIBOR + 4.00%) 4.50% 20285,6 | | | 1,600 | | | | 1,606 | |
Southern California Edison Co. 2.85% 2029 | | | 1,100 | | | | 1,144 | |
Southern California Edison Co. 2.25% 2030 | | | 7,500 | | | | 7,391 | |
Southern California Edison Co. 2.95% 2051 | | | 4,093 | | | | 3,720 | |
Southwestern Energy Co. 6.45% 20251 | | | 1,060 | | | | 1,176 | |
Southwestern Energy Co. 7.50% 2026 | | | 565 | | | | 599 | |
Southwestern Energy Co. 7.75% 2027 | | | 165 | | | | 179 | |
Southwestern Energy Co. 8.375% 2028 | | | 465 | | | | 526 | |
Springleaf Finance Corp. 6.125% 2024 | | | 3,550 | | | | 3,825 | |
Sprint Corp. 7.625% 2026 | | | 1,262 | | | | 1,543 | |
Sprint Corp. 6.875% 2028 | | | 5,775 | | | | 7,414 | |
Square, Inc. 2.75% 20262 | | | 1,850 | | | | 1,885 | |
Square, Inc. 3.50% 20312 | | | 900 | | | | 909 | |
Sri Lanka (Democratic Socialist Republic of) 6.25% 2021 | | | 30,164 | | | | 29,712 | |
Sri Lanka (Democratic Socialist Republic of) 5.75% 2022 | | | 54,866 | | | | 50,509 | |
Sri Lanka (Democratic Socialist Republic of) 5.875% 2022 | | | 12,600 | | | | 10,710 | |
Sri Lanka (Democratic Socialist Republic of) 5.75% 2023 | | | 10,896 | | | | 8,158 | |
Sri Lanka (Democratic Socialist Republic of) 5.75% 20232 | | | 214 | | | | 160 | |
SRS Distribution, Inc. 6.125% 20292 | | | 410 | | | | 423 | |
State Bank of India 3.25% 2022 | | | 460 | | | | 466 | |
State Bank of India 4.50% 2023 | | | 2,070 | | | | 2,219 | |
State Grid Overseas Investment, Ltd. 3.50% 20272 | | | 2,000 | | | | 2,206 | |
Statoil ASA 3.25% 2024 | | | 1,050 | | | | 1,138 | |
Stericycle, Inc. 3.875% 20292 | | | 1,120 | | | | 1,122 | |
Studio City Finance, Ltd. 5.00% 20292 | | | 1,625 | | | | 1,643 | |
Suburban Propane Partners LP / Suburban Energy Finance Corp. 5.00% 20312 | | | 790 | | | | 810 | |
Summer (BC) BidCo B LLC 5.50% 20262 | | | 410 | | | | 417 | |
Summit Materials, Inc. 6.50% 20272 | | | 1,415 | | | | 1,503 | |
Sun Communities Operating LP 2.70% 2031 | | | 2,310 | | | | 2,315 | |
Suncor Energy, Inc. 3.75% 2051 | | | 2,104 | | | | 2,280 | |
Sunoco Logistics Operating Partners LP 5.40% 2047 | | | 690 | | | | 819 | |
Sunoco LP 5.50% 2026 | | | 1,540 | | | | 1,592 | |
Sunoco LP 4.50% 20292 | | | 2,385 | | | | 2,434 | |
Superior Plus LP and Superior General Partner, Inc. 4.50% 20292 | | | 310 | | | | 320 | |
Surgery Center Holdings 10.00% 20272 | | | 840 | | | | 925 | |
Swiss Re Finance (Luxembourg) SA 5.00% 2049 (5-year UST Yield Curve Rate T Note Constant Maturity + 3.582% on 4/2/2029)1,2 | | | 6,200 | | | | 7,072 | |
Syneos Health, Inc. 3.625% 20292 | | | 840 | | | | 833 | |
Talen Energy Corp. 10.50% 20262 | | | 2,585 | | | | 1,873 | |
Talen Energy Corp. 7.25% 20272 | | | 2,845 | | | | 2,658 | |
Talen Energy Supply, LLC 7.625% 20282 | | | 1,600 | | | | 1,499 | |
| |
26 | Capital World Bond Fund |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
U.S. dollars (continued) | | | | | | | | |
Targa Resources Partners LP 5.875% 2026 | | $ | 375 | | | $ | 395 | |
Targa Resources Partners LP 5.50% 2030 | | | 760 | | | | 837 | |
Targa Resources Partners LP 4.875% 20312 | | | 855 | | | | 927 | |
Tencent Holdings, Ltd. 3.975% 2029 | | | 450 | | | | 502 | |
Tencent Holdings, Ltd. 2.39% 20302 | | | 1,000 | | | | 997 | |
Tencent Holdings, Ltd. 3.24% 20502 | | | 9,220 | | | | 9,051 | |
Tencent Music Entertainment Group 2.00% 2030 | | | 3,480 | | | | 3,358 | |
Tenet Healthcare Corp. 4.875% 20262 | | | 2,376 | | | | 2,467 | |
Teva Pharmaceutical Finance Co. BV 2.80% 2023 | | | 11,243 | | | | 11,218 | |
Teva Pharmaceutical Finance Co. BV 6.00% 2024 | | | 3,136 | | | | 3,333 | |
Teva Pharmaceutical Finance Co. BV 7.125% 2025 | | | 1,160 | | | | 1,280 | |
Teva Pharmaceutical Finance Co. BV 3.15% 2026 | | | 21,060 | | | | 20,060 | |
Teva Pharmaceutical Finance Co. BV 4.10% 2046 | | | 23,995 | | | | 21,056 | |
State of Texas, Grand Parkway Transportation Corp., Grand Parkway System Toll Rev. Ref. Bonds, Series 2020-B, 3.236% 2052 | | | 10,005 | | | | 10,238 | |
The Home Co., Inc. 7.25% 20252 | | | 995 | | | | 1,058 | |
Thermo Fisher Scientific, Inc. 4.133% 2025 | | | 6,338 | | | | 7,031 | |
T-Mobile US, Inc. 1.50% 2026 | | | 9,025 | | | | 9,120 | |
T-Mobile US, Inc. 2.625% 2026 | | | 1,050 | | | | 1,076 | |
T-Mobile US, Inc. 2.05% 2028 | | | 5,375 | | | | 5,471 | |
T-Mobile US, Inc. 2.625% 2029 | | | 500 | | | | 494 | |
T-Mobile US, Inc. 3.875% 2030 | | | 2,164 | | | | 2,426 | |
T-Mobile US, Inc. 2.55% 2031 | | | 8,589 | | | | 8,709 | |
T-Mobile US, Inc. 2.875% 2031 | | | 250 | | | | 248 | |
T-Mobile US, Inc. 3.00% 2041 | | | 1,376 | | | | 1,362 | |
T-Mobile USA, Inc. 3.30% 2051 | | | 1,500 | | | | 1,499 | |
Total Capital International 2.829% 2030 | | | 3,350 | | | | 3,601 | |
Total Play Telecomunicaciones, SA de CV 7.50% 20252 | | | 600 | | | | 637 | |
Toyota Motor Credit Corp. 3.00% 2025 | | | 472 | | | | 507 | |
Toyota Motor Credit Corp. 3.20% 2027 | | | 3,330 | | | | 3,658 | |
Toyota Motor Credit Corp. 3.05% 2028 | | | 2,589 | | | | 2,845 | |
Toyota Motor Credit Corp. 3.375% 2030 | | | 3,527 | | | | 3,958 | |
TransCanada PipeLines, Ltd. 4.10% 2030 | | | 11,273 | | | | 12,965 | |
TransDigm, Inc. 6.25% 20262 | | | 1,198 | | | | 1,265 | |
TransDigm, Inc. 5.50% 2027 | | | 760 | | | | 793 | |
TransDigm, Inc. 4.625% 20292 | | | 720 | | | | 722 | |
Transocean Guardian, Ltd. 5.875% 20242 | | | 302 | | | | 294 | |
Transocean Poseidon, Ltd. 6.875% 20272 | | | 608 | | | | 612 | |
Transocean, Inc. 6.125% 20252 | | | 640 | | | | 649 | |
Transocean, Inc. 7.25% 20252 | | | 850 | | | | 743 | |
Transocean, Inc. 8.00% 20272 | | | 950 | | | | 801 | |
Travelers Companies, Inc. 4.10% 2049 | | | 500 | | | | 618 | |
Trilogy International South Pacific LLC / TISP Finance, Inc. 8.875% 20232 | | | 10,561 | | | | 10,552 | |
Triton Water Holdings, Inc. 6.25% 20292 | | | 1,070 | | | | 1,074 | |
Trivium Packaging BV 8.50% 20272 | | | 701 | | | | 764 | |
Truck Hero, Inc., Term Loan B, (3-month USD-LIBOR + 3.75%) 4.50% 20285,6 | | | 175 | | | | 175 | |
Turkey (Republic of) 6.25% 2022 | | | 4,915 | | | | 5,124 | |
Turkey (Republic of) 6.35% 2024 | | | 12,500 | | | | 13,143 | |
Turkey (Republic of) 4.75% 2026 | | | 4,800 | | | | 4,731 | |
Turkey (Republic of) 7.625% 2029 | | | 1,050 | | | | 1,153 | |
Turkey (Republic of) 6.00% 2041 | | | 2,100 | | | | 1,906 | |
U.S. Renal Care, Inc. 10.625% 20272 | | | 100 | | | | 105 | |
U.S. Treasury 1.50% 2021 | | | 8,650 | | | | 8,702 | |
U.S. Treasury 2.625% 2021 | | | 2,500 | | | | 2,529 | |
U.S. Treasury 0.125% 2022 | | | 51,520 | | | | 51,507 | |
U.S. Treasury 0.125% 2022 | | | 9,500 | | | | 9,503 | |
U.S. Treasury 0.125% 2023 | | | 86,687 | | | | 86,614 | |
U.S. Treasury 0.125% 2023 | | | 41,810 | | | | 41,589 | |
U.S. Treasury 1.375% 2023 | | | 14,040 | | | | 14,375 | |
U.S. Treasury 1.375% 2023 | | | 3,770 | | | | 3,861 | |
U.S. Treasury 2.75% 2023 | | | 12,920 | | | | 13,518 | |
U.S. Treasury 2.75% 2023 | | | 40 | | | | 42 | |
U.S. Treasury 0.25% 2024 | | | 16,000 | | | | 15,936 | |
U.S. Treasury 0.375% 2024 | | | 357 | | | | 357 | |
U.S. Treasury 1.25% 2024 | | | 10,000 | | | | 10,236 | |
U.S. Treasury 1.50% 202412 | | | 84,650 | | | | 87,348 | |
U.S. Treasury 1.50% 2024 | | | 16,350 | | | | 16,872 | |
U.S. Treasury 2.00% 2024 | | | 9,000 | | | | 9,413 | |
U.S. Treasury 2.00% 2024 | | | 7,800 | | | | 8,147 | |
| |
Capital World Bond Fund | 27 |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
U.S. dollars (continued) | | | | | | | | |
U.S. Treasury 2.00% 2024 | | $ | 3,700 | | | $ | 3,867 | |
U.S. Treasury 2.25% 202412 | | | 54,760 | | | | 57,575 | |
U.S. Treasury 0.25% 2025 | | | 153,820 | | | | 151,252 | |
U.S. Treasury 0.25% 2025 | | | 136,626 | | | | 133,598 | |
U.S. Treasury 0.25% 2025 | | | 132,461 | | | | 129,687 | |
U.S. Treasury 2.75% 2025 | | | 68,290 | | | | 73,865 | |
U.S. Treasury 2.875% 2025 | | | 27,270 | | | | 29,759 | |
U.S. Treasury 2.875% 2025 | | | 4,850 | | | | 5,273 | |
U.S. Treasury 2.875% 2025 | | | 72 | | | | 78 | |
U.S. Treasury 0.375% 2026 | | | 210,560 | | | | 206,366 | |
U.S. Treasury 0.75% 202612 | | | 171,225 | | | | 170,480 | |
U.S. Treasury 0.75% 2026 | | | 4,496 | | | | 4,471 | |
U.S. Treasury 0.875% 2026 | | | 44,247 | | | | 44,231 | |
U.S. Treasury 1.625% 2026 | | | 13,900 | | | | 14,396 | |
U.S. Treasury 1.875% 2026 | | | 25 | | | | 26 | |
U.S. Treasury 2.125% 2026 | | | 7,500 | | | | 7,956 | |
U.S. Treasury 2.25% 2026 | | | 25 | | | | 27 | |
U.S. Treasury 0.50% 2027 | | | 4,200 | | | | 4,050 | |
U.S. Treasury 0.625% 2027 | | | 4,200 | | | | 4,061 | |
U.S. Treasury 2.25% 2027 | | | 10,500 | | | | 11,223 | |
U.S. Treasury 1.25% 2028 | | | 493 | | | | 494 | |
U.S. Treasury 2.75% 2028 | | | 40,310 | | | | 44,421 | |
U.S. Treasury 2.875% 2028 | | | 53,600 | | | | 59,544 | |
U.S. Treasury 1.625% 2029 | | | 650 | | | | 665 | |
U.S. Treasury 0.625% 203012 | | | 170,715 | | | | 159,550 | |
U.S. Treasury 0.625% 2030 | | | 20 | | | | 19 | |
U.S. Treasury 0.875% 2030 | | | 45,890 | | | | 43,635 | |
U.S. Treasury 1.50% 2030 | | | 240 | | | | 242 | |
U.S. Treasury 1.625% 2031 | | | 13,095 | | | | 13,299 | |
U.S. Treasury 4.375% 2039 | | | 1,500 | | | | 2,084 | |
U.S. Treasury 1.125% 204012 | | | 71,716 | | | | 61,860 | |
U.S. Treasury 1.125% 2040 | | | 50 | | | | 43 | |
U.S. Treasury 4.625% 2040 | | | 1,350 | | | | 1,936 | |
U.S. Treasury 1.875% 2041 | | | 100,341 | | | | 98,149 | |
U.S. Treasury 2.25% 204112 | | | 43,475 | | | | 45,214 | |
U.S. Treasury 3.125% 2041 | | | 1,100 | | | | 1,310 | |
U.S. Treasury 2.75% 2042 | | | 3,350 | | | | 3,768 | |
U.S. Treasury 2.75% 2042 | | | 1,000 | | | | 1,125 | |
U.S. Treasury 2.875% 2043 | | | 1,600 | | | | 1,838 | |
U.S. Treasury 3.125% 2044 | | | 940 | | | | 1,127 | |
U.S. Treasury 3.375% 2044 | | | 2,700 | | | | 3,362 | |
U.S. Treasury 2.875% 2045 | | | 1,250 | | | | 1,443 | |
U.S. Treasury 3.00% 2045 | | | 1,425 | | | | 1,683 | |
U.S. Treasury 3.00% 2045 | | | 1,125 | | | | 1,325 | |
U.S. Treasury 3.00% 2048 | | | 7,110 | | | | 8,458 | |
U.S. Treasury 3.375% 2048 | | | 1,150 | | | | 1,466 | |
U.S. Treasury 2.25% 2049 | | | 1,700 | | | | 1,758 | |
U.S. Treasury 2.375% 2049 | | | 100 | | | | 106 | |
U.S. Treasury 3.00% 2049 | | | 520 | | | | 621 | |
U.S. Treasury 1.25% 2050 | | | 12,110 | | | | 9,867 | |
U.S. Treasury 1.375% 2050 | | | 870 | | | | 732 | |
U.S. Treasury 1.625% 2050 | | | 7,801 | | | | 6,990 | |
U.S. Treasury 2.00% 2050 | | | 22,480 | | | | 22,041 | |
U.S. Treasury 1.875% 2051 | | | 1,992 | | | | 1,897 | |
U.S. Treasury 2.375% 205112 | | | 85,005 | | | | 90,713 | |
U.S. Treasury Inflation-Protected Security 0.125% 20263 | | | 8,144 | | | | 8,868 | |
U.S. Treasury Inflation-Protected Security 0.125% 20313 | | | 9,743 | | | | 10,728 | |
U.S. Treasury Inflation-Protected Security 0.125% 20513,12 | | | 23,473 | | | | 25,731 | |
Uber Technologies, Inc. 8.00% 20262 | | | 1,365 | | | | 1,475 | |
UKG, Inc., Term Loan B, (3-month USD-LIBOR + 3.25%) 4.00% 20265,6 | | | 1,985 | | | | 1,989 | |
Ukraine 7.75% 2022 | | | 20,000 | | | | 21,052 | |
Ukraine 7.75% 2027 | | | 2,300 | | | | 2,537 | |
Ukraine 7.375% 20322 | | | 560 | | | | 590 | |
Ukraine 1.258% 20406 | | | 950 | | | | 1,130 | |
UniCredit SpA 5.459% 2035 (5-year USD-ICE Swap + 4.75% on 6/30/2030)1,2 | | | 16,050 | | | | 17,518 | |
Uniform Mortgage-Backed Security 1.50% 20364,13 | | | 35,137 | | | | 35,452 | |
Uniform Mortgage-Backed Security 3.50% 20514,13 | | | 31,746 | | | | 33,438 | |
Uniform Mortgage-Backed Security 4.00% 20514,13 | | | 11,049 | | | | 11,776 | |
Union Pacific Corp. 4.30% 2049 | | | 1,550 | | | | 1,897 | |
| |
28 | Capital World Bond Fund |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
U.S. dollars (continued) | | | | | | | | |
Union Pacific Corp. 3.25% 2050 | | $ | 3,005 | | | $ | 3,176 | |
Union Pacific Corp. 3.75% 2070 | | | 302 | | | | 334 | |
Union Pacific Corp. 3.799% 20712 | | | 302 | | | | 336 | |
Unisys Corp. 6.875% 20272 | | | 1,075 | | | | 1,176 | |
United Airlines Holdings, Inc. 6.50% 20272 | | | 1,362 | | | | 1,501 | |
United Airlines, Inc., Pass Through Trust Certificates, Series 2020-1, Class B, 4.875% 2027 | | | 508 | | | | 539 | |
United Airlines, Inc. 4.375% 20262 | | | 300 | | | | 311 | |
United Airlines, Inc. 4.625% 20292 | | | 955 | | | | 990 | |
United Mexican States 3.25% 2030 | | | 880 | | | | 911 | |
United Mexican States 5.00% 2051 | | | 820 | | | | 933 | |
United Rentals, Inc. 5.25% 2030 | | | 870 | | | | 954 | |
United Technologies Corp. 3.65% 2023 | | | 185 | | | | 196 | |
United Technologies Corp. 3.125% 2027 | | | 250 | | | | 272 | |
United Technologies Corp. 4.125% 2028 | | | 4,100 | | | | 4,721 | |
United Technologies Corp. 4.50% 2042 | | | 500 | | | | 623 | |
United Wholesale Mortgage, LLC 5.50% 20292 | | | 500 | | | | 501 | |
UnitedHealth Group, Inc. 3.75% 2025 | | | 2,160 | | | | 2,398 | |
UnitedHealth Group, Inc. 3.25% 2051 | | | 1,938 | | | | 2,071 | |
Univision Communications, Inc. 6.625% 20272 | | | 2,000 | | | | 2,170 | |
Univision Communications, Inc. 4.50% 20292 | | | 2,325 | | | | 2,348 | |
UPC Broadband Finco BV 4.875% 20312 | | | 1,130 | | | | 1,134 | |
Vale Overseas, Ltd. 3.75% 2030 | | | 7,714 | | | | 8,223 | |
Valeant Pharmaceuticals International, Inc. 6.125% 20252 | | | 2,411 | | | | 2,474 | |
Valvoline, Inc. 3.625% 20312 | | | 1,713 | | | | 1,717 | |
Venator Materials Corp. 5.75% 20252 | | | 4,285 | | | | 4,226 | |
Venator Materials Corp. 9.50% 20252 | | | 2,450 | | | | 2,763 | |
Venezuela (Bolivarian Republic of) 7.00% 20188 | | | 60 | | | | 6 | |
Venezuela (Bolivarian Republic of) 7.75% 20198 | | | 1,074 | | | | 115 | |
Venezuela (Bolivarian Republic of) 6.00% 20208 | | | 883 | | | | 87 | |
Venezuela (Bolivarian Republic of) 12.75% 20228 | | | 80 | | | | 8 | |
Venezuela (Bolivarian Republic of) 9.00% 20238 | | | 1,289 | | | | 131 | |
Venezuela (Bolivarian Republic of) 8.25% 20248 | | | 279 | | | | 29 | |
Venezuela (Bolivarian Republic of) 7.65% 20258 | | | 120 | | | | 12 | |
Venezuela (Bolivarian Republic of) 11.75% 20268 | | | 60 | | | | 6 | |
Venezuela (Bolivarian Republic of) 9.25% 20278 | | | 159 | | | | 17 | |
Venezuela (Bolivarian Republic of) 9.25% 20288 | | | 2,498 | | | | 262 | |
Venezuela (Bolivarian Republic of) 11.95% 20318 | | | 99 | | | | 10 | |
Venezuela (Bolivarian Republic of) 7.00% 20388 | | | 99 | | | | 11 | |
Verizon Communications, Inc. 0.85% 2025 | | | 4,200 | | | | 4,156 | |
Verizon Communications, Inc. 1.45% 2026 | | | 600 | | | | 605 | |
Verizon Communications, Inc. 2.10% 2028 | | | 1,600 | | | | 1,635 | |
Verizon Communications, Inc. 4.329% 2028 | | | 3,315 | | | | 3,859 | |
Verizon Communications, Inc. 1.68% 2030 | | | 2,500 | | | | 2,391 | |
Verizon Communications, Inc. 3.15% 2030 | | | 3,500 | | | | 3,782 | |
Verizon Communications, Inc. 1.75% 2031 | | | 4,242 | | | | 4,068 | |
Verizon Communications, Inc. 2.55% 2031 | | | 26,475 | | | | 27,081 | |
Verizon Communications, Inc. 3.40% 2041 | | | 1,800 | | | | 1,906 | |
Verizon Communications, Inc. 3.85% 2042 | | | 443 | | | | 504 | |
Verizon Communications, Inc. 2.875% 2050 | | | 2,725 | | | | 2,595 | |
Verizon Communications, Inc. 3.55% 2051 | | | 1,500 | | | | 1,605 | |
Verizon Communications, Inc. 3.70% 2061 | | | 1,100 | | | | 1,180 | |
Vertical Holdco GMBH 7.625% 20282 | | | 455 | | | | 495 | |
Vertical U.S. Newco, Inc. 5.25% 20272 | | | 1,575 | | | | 1,662 | |
VICI Properties LP 4.25% 20262 | | | 250 | | | | 260 | |
VICI Properties LP 4.625% 20292 | | | 742 | | | | 790 | |
VICI Properties LP / VICI Note Co., Inc. 3.50% 20252 | | | 307 | | | | 314 | |
VICI Properties LP / VICI Note Co., Inc. 4.125% 20302 | | | 375 | | | | 386 | |
Vinci SA 3.75% 20292 | | | 6,844 | | | | 7,735 | |
Virgin Media O2 4.25% 20312 | | | 1,675 | | | | 1,648 | |
Virginia Electric and Power Co. 2.875% 2029 | | | 1,760 | | | | 1,896 | |
Virtusa Corp., Term Loan B, (3-month USD-LIBOR + 4.25%) 5.00% 20285,6 | | | 50 | | | | 50 | |
Vistra Operations Co. LLC 4.375% 20292 | | | 1,150 | | | | 1,157 | |
Vodafone Group PLC 4.25% 2050 | | | 1,400 | | | | 1,638 | |
Volkswagen Group of America Finance, LLC 3.125% 20232 | | | 14,770 | | | | 15,432 | |
Volkswagen Group of America Finance, LLC 4.25% 20232 | | | 14,700 | | | | 15,895 | |
Volkswagen Group of America Finance, LLC 2.85% 20242 | | | 1,124 | | | | 1,188 | |
Volkswagen Group of America Finance, LLC 4.625% 20252 | | | 6,345 | | | | 7,237 | |
Volkswagen Group of America Finance, LLC 4.75% 20282 | | | 2,000 | | | | 2,373 | |
| |
Capital World Bond Fund | 29 |
Bonds, notes & other debt instruments (continued) | Principal amount (000) | | | Value (000) | |
U.S. dollars (continued) | | | | | | | | |
Walt Disney Company 2.65% 2031 | | $ | 15,610 | | | $ | 16,400 | |
Walt Disney Company 3.60% 2051 | | | 553 | | | | 628 | |
Warner Music Group 3.875% 20302 | | | 1,485 | | | | 1,504 | |
WASH Multifamily Acquisition, Inc. 5.75% 20262 | | | 810 | | | | 847 | |
Weatherford International PLC 8.75% 20242 | | | 950 | | | | 995 | |
Weatherford International PLC 11.00% 20242 | | | 1,150 | | | | 1,197 | |
Wells Fargo & Company 2.393% 2028 (USD-SOFR + 2.10% on 6/2/2027)1 | | | 26,643 | | | | 27,650 | |
Wells Fargo & Company 2.572% 2031 (3-month USD-LIBOR + 1.00% on 2/11/2030)1 | | | 4,285 | | | | 4,438 | |
WESCO Distribution, Inc. 7.125% 20252 | | | 480 | | | | 519 | |
WESCO Distribution, Inc. 7.25% 20282 | | | 522 | | | | 582 | |
Western Gas Partners LP 5.45% 2044 | | | 82 | | | | 89 | |
Western Global Airlines LLC 10.375% 20252 | | | 1,065 | | | | 1,221 | |
Western Midstream Operating LP 4.35% 20251 | | | 541 | | | | 572 | |
Western Midstream Operating LP 4.75% 2028 | | | 240 | | | | 260 | |
Westlake Chemical Corp. 5.00% 2046 | | | 260 | | | | 330 | |
Westlake Chemical Corp. 4.375% 2047 | | | 505 | | | | 595 | |
Westpac Banking Corp. 2.894% 2030 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.35% on 2/4/2025)1 | | | 17,000 | | | | 17,653 | |
Westpac Banking Corp. 4.11% 2034 (5-year UST Yield Curve Rate T Note Constant Maturity + 2.00% on 7/24/2029)1 | | | 2,279 | | | | 2,507 | |
Westpac Banking Corp. 2.668% 2035 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.75% on 11/15/2030)1 | | | 3,425 | | | | 3,373 | |
Westpac Banking Corp. 2.963% 2040 | | | 400 | | | | 394 | |
Williams Companies, Inc. 3.50% 2030 | | | 9,779 | | | | 10,688 | |
Williams Partners LP 3.90% 2025 | | | 761 | | | | 833 | |
Williams Partners LP 6.30% 2040 | | | 651 | | | | 894 | |
Williams Partners LP 5.10% 2045 | | | 767 | | | | 958 | |
Willis North America, Inc. 2.95% 2029 | | | 2,022 | | | | 2,125 | |
Wyndham Worldwide Corp. 4.375% 20282 | | | 303 | | | | 316 | |
Wynn Las Vegas, LLC and Wynn Capital Corp. 4.25% 20232 | | | 1,387 | | | | 1,441 | |
Wynn Resorts, Ltd. 7.75% 20252 | | | 520 | | | | 562 | |
Xcel Energy, Inc. 3.35% 2026 | | | 1,500 | | | | 1,634 | |
Xcel Energy, Inc. 2.60% 2029 | | | 1,000 | | | | 1,040 | |
Xenia Hotels & Resorts, Inc. 4.875% 20292 | | | 500 | | | | 517 | |
Xerox Corp. 5.50% 20282 | | | 1,825 | | | | 1,899 | |
Ziggo Bond Co. BV 5.125% 20302 | | | 1,500 | | | | 1,538 | |
Ziggo Bond Finance BV 5.50% 20272 | | | 2,078 | | | | 2,164 | |
Ziggo Bond Finance BV 4.875% 20302 | | | 1,450 | | | | 1,488 | |
Zimmer Holdings, Inc. 3.15% 2022 | | | 5,030 | | | | 5,111 | |
| | | | | | | 6,217,820 | |
| | | | | | | | |
Total bonds, notes & other debt instruments (cost: $14,311,228,000) | | | | | | | 14,657,664 | |
| | | | | | | | |
Convertible bonds & notes 0.02% | | | | | | | | |
U.S. dollars 0.02% | | | | | | | | |
Airbnb, Inc., convertible notes, 0% 20262 | | | 543 | | | | 513 | |
American Airlines Group, Inc., convertible notes, 6.50% 2025 | | | 250 | | | | 393 | |
Cinemark USA, Inc., convertible notes, 4.50% 20252 | | | 175 | | | | 311 | |
DISH DBS Corp., convertible notes, 3.375% 2026 | | | 390 | | | | 399 | |
NCL Corp., Ltd., convertible notes, 5.375% 20252 | | | 174 | | | | 317 | |
Penn National Gaming, Inc., convertible notes, 2.75% 2026 | | | 87 | | | | 291 | |
Royal Caribbean Cruises, Ltd., convertible notes, 4.25% 20232 | | | 195 | | | | 267 | |
Sabre GLBL, Inc., convertible notes, 4.00% 2025 | | | 198 | | | | 361 | |
Southwest Airlines Co., convertible notes, 1.25% 2025 | | | 184 | | | | 280 | |
| | | | | | | | |
Total convertible bonds & notes (cost: $2,617,000) | | | | | | | 3,132 | |
| | | | | | | | |
| | | | | | | | |
Convertible stocks 0.00% | | | Shares | | | | | |
U.S. dollars 0.00% | | | | | | | | |
2020 Cash Mandatory Exchangeable Trust, convertible preferred shares, 0% 20232 | | | 300 | | | | 379 | |
| | | | | | | | |
Total convertible stocks (cost: $331,000) | | | | | | | 379 | |
| | | | | | | | |
Preferred securities 0.00% | | | | | | | | |
U.S. dollars 0.00% | | | | | | | | |
ACR III LSC Holdings LLC, Series B, preferred shares2,9,10,14 | | | 277 | | | | 195 | |
| | | | | | | | |
Total preferred securities (cost: $287,000) | | | | | | | 195 | |
30 | Capital World Bond Fund |
Common stocks 0.10% | | | | | Shares | | | Value (000) | |
U.S. dollars 0.10% | | | | | | | | | | | | |
New AMI I, LLC9,10,14 | | | | | | | 953,865 | | | $ | 8,298 | |
Weatherford International14 | | | | | | | 172,186 | | | | 3,134 | |
Chesapeake Energy Corp. | | | | | | | 37,359 | | | | 1,940 | |
Diamond Offshore Drilling, Inc.14 | | | | | | | 189,402 | | | | 1,203 | |
Diamond Offshore Drilling, Inc.2,9,10,14 | | | | | | | 66,191 | | | | 353 | |
McDermott International, Ltd.14 | | | | | | | 30,503 | | | | 15 | |
| | | | | | | | | | | | |
Total common stocks (cost: $13,308,000) | | | | | | | | | | | 14,943 | |
| | | | | | | | | | | | |
Rights & warrants 0.00% | | | | | | | | | | | | |
U.S. dollars 0.00% | | | | | | | | | | | | |
Sable Permian Resources, LLC, Class A, warrants, expire 20249,10,14 | | | | | | | 2,668 | | | | — | 11 |
| | | | | | | | | | | | |
Total rights & warrants (cost: $0) | | | | | | | | | | | — | 11 |
| | | | | | | | | | | | |
Short-term securities 6.40% | | | | | | | | | | | | |
Money market investments 4.99% | | | | | | | | | | | | |
Capital Group Central Cash Fund 0.04%15,16 | | | | | | | 7,763,972 | | | | 776,397 | |
| | | | | | | | | | | | |
| | | Weighted | | | | | | | | | |
| | average yield | | Principal amount | | | | | |
| | at acquisition | | | (000) | | | | | |
Bills & notes of governments & government agencies outside the U.S. 1.41% | | | | | |
Egyptian Treasury 7/6/2021 | | | 11.452 | % | | EGP | 518,175 | | | | 32,945 | |
Egyptian Treasury 7/20/2021 | | | 11.721 | | | | 136,900 | | | | 8,661 | |
Egyptian Treasury 8/10/2021 | | | 11.931 | | | | 30,950 | | | | 1,944 | |
Egyptian Treasury 10/19/2021 | | | 11.994 | | | | 141,200 | | | | 8,652 | |
Egyptian Treasury 10/26/2021 | | | 12.115 | | | | 767,175 | | | | 46,891 | |
Egyptian Treasury 1/4/2022 | | | 12.011 | | | | 147,900 | | | | 8,822 | |
Egyptian Treasury 1/18/2022 | | | 11.182 | | | | 383,450 | | | | 22,763 | |
Egyptian Treasury 2/1/2022 | | | 11.103 | | | | 167,550 | | | | 9,899 | |
Egyptian Treasury 3/15/2022 | | | 11.428 | | | | 373,000 | | | | 21,730 | |
Egyptian Treasury 4/26/2022 | | | 11.450 | | | | 760,825 | | | | 43,724 | |
Greek Treasury 7/30/2021 | | | (0.274 | ) | | € | 1,680 | | | | 1,993 | |
Greek Treasury 8/27/2021 | | | (0.237 | ) | | | 9,100 | | | | 10,795 | |
| | | | | | | | | | | 218,819 | |
Total short-term securities (cost: $995,870,000) | | | | | | | | | | | 995,216 | |
Total investment securities 100.75% (cost: $15,323,641,000) | | | | | | | | | | | 15,671,529 | |
Other assets less liabilities (0.75)% | | | | | | | | | | | (116,950 | ) |
| | | | | | | | | | | | |
Net assets 100.00% | | | | | | | | | | $ | 15,554,579 | |
Futures contracts
| | | | | | | | | | | | | | | Unrealized | |
| | | | | | | | | | | | | | | appreciation | |
| | | | | | | | | Notional | | | Value at | | | (depreciation) | |
| | | | | Number of | | | | amount | 17 | | 6/30/2021 | 18 | | at 6/30/2021 | |
Contracts | | Type | | | contracts | | Expiration | | (000) | | | (000) | | | (000) | |
90 Day Euro Dollar Futures | | Short | | | 5,545 | | September 2022 | | $ | (1,386,250 | ) | | $ | (1,381,190 | ) | | | $ | 472 | |
90 Day Euro Dollar Futures | | Long | | | 415 | | December 2022 | | | 103,750 | | | | 103,210 | | | | | 6 | |
90 Day BAX Futures | | Long | | | 250 | | December 2022 | | | C$62,500 | | | | 49,812 | | | | | (49 | ) |
90 Day Euro Dollar Futures | | Long | | | 7,009 | | September 2023 | | $ | 1,752,250 | | | | 1,734,727 | | | | | (1,169 | ) |
2 Year Euro-Schatz Futures | | Long | | | 607 | | September 2021 | | € | 60,700 | | | | 80,713 | | | | | (11 | ) |
2 Year U.S. Treasury Note Futures | | Long | | | 1,058 | | October 2021 | | $ | 211,600 | | | | 233,099 | | | | | (336 | ) |
5 Year Euro-Bobl Futures | | Short | | | 33 | | September 2021 | | € | (3,300 | ) | | | (5,249 | ) | | | | (6 | ) |
5 Year U.S. Treasury Note Futures | | Long | | | 1,159 | | October 2021 | | $ | 115,900 | | | | 143,055 | | | | | 117 | |
10 Year Euro-Bund Futures | | Long | | | 507 | | September 2021 | | € | 50,700 | | | | 103,769 | | | | | 203 | |
10 Year Italy Government Bond Futures | | Short | | | 284 | | September 2021 | | | (28,400 | ) | | | (50,988 | ) | | | | 295 | |
10 Year Japanese Government Bond Futures | | Long | | | 347 | | September 2021 | | ¥ | 34,700,000 | | | | 473,797 | | | | | 999 | |
10 Year UK Gilt Futures | | Long | | | 667 | | September 2021 | | £ | 66,700 | | | | 118,193 | | | | | 298 | |
Capital World Bond Fund | 31 |
Futures contracts (continued)
| | | | | | | | | | | | | | Unrealized | |
| | | | | | | | | | | | | | appreciation | |
| | | | | | | | Notional | | | Value at | | | (depreciation) | |
| | | | Number of | | | | amount | 17 | | 6/30/2021 | 18 | | at 6/30/2021 | |
Contracts | | Type | | contracts | | Expiration | | (000) | | | (000) | | | (000) | |
10 Year Canadian Government Bond Futures | | Short | | | 13 | | September 2021 | | | C$(1,300) | | | $ | (1,526 | ) | | | $ | (18 | ) |
10 Year U.S. Treasury Note Futures | | Short | | | 1,953 | | September 2021 | | $ | (195,300 | ) | | | (258,773 | ) | | | | (785 | ) |
10 Year Ultra U.S. Treasury Note Futures | | Short | | | 4,928 | | September 2021 | | | (492,800 | ) | | | (725,417 | ) | | | | (9,471 | ) |
20 Year U.S. Treasury Bond Futures | | Long | | | 2,320 | | September 2021 | | | 232,000 | | | | 372,940 | | | | | 4,968 | |
30 Year Euro-Buxl Futures | | Long | | | 158 | | September 2021 | | € | 15,800 | | | | 38,077 | | | | | 575 | |
30 Year Ultra U.S. Treasury Bond Futures | | Long | | | 625 | | September 2021 | | $ | 62,500 | | | | 120,430 | | | | | 3,801 | |
| | | | | | | | | | | | | | | | | | $ | (111 | ) |
Forward currency contracts
| | | | | | | | | | Unrealized | |
| | | | | | | | | | (depreciation) | |
Contract amount | | | | | | | appreciation | |
Purchases | | | Sales | | | | | Settlement | | at 6/30/2021 | |
(000) | | | (000) | | | Counterparty | | date | | (000) | |
| EUR26,200 | | | | USD31,173 | | | Goldman Sachs | | 7/1/2021 | | | $ | (105 | ) |
| USD30,829 | | | | EUR26,200 | | | Citibank | | 7/1/2021 | | | | (238 | ) |
| USD32,660 | | | | EUR26,750 | | | Standard Chartered Bank | | 7/6/2021 | | | | 937 | |
| USD9,021 | | | | TRY76,450 | | | Bank of America | | 7/6/2021 | | | | 267 | |
| TRY76,450 | | | | USD8,729 | | | Bank of America | | 7/6/2021 | | | | 25 | |
| USD240 | | | | CLP174,752 | | | Standard Chartered Bank | | 7/6/2021 | | | | 2 | |
| CLP174,752 | | | | USD241 | | | Goldman Sachs | | 7/6/2021 | | | | (3 | ) |
| BRL189 | | | | USD37 | | | Barclays Bank PLC | | 7/7/2021 | | | | 1 | |
| USD77,189 | | | | CNH494,180 | | | HSBC Bank | | 7/8/2021 | | | | 833 | |
| USD26,347 | | | | MXN522,990 | | | JPMorgan Chase | | 7/8/2021 | | | | 137 | |
| USD502 | | | | MXN10,046 | | | Standard Chartered Bank | | 7/8/2021 | | | | (2 | ) |
| MXN522,460 | | | | USD26,358 | | | Standard Chartered Bank | | 7/8/2021 | | | | (175 | ) |
| EUR10,630 | | | | USD12,945 | | | Bank of New York Mellon | | 7/8/2021 | | | | (338 | ) |
| USD3,674 | | | | KRW4,082,350 | | | Citibank | | 7/9/2021 | | | | 61 | |
| USD35 | | | | COP125,375 | | | Citibank | | 7/9/2021 | | | | 1 | |
| COP445,531 | | | | USD124 | | | Goldman Sachs | | 7/9/2021 | | | | (5 | ) |
| CLP830,766 | | | | USD1,149 | | | Goldman Sachs | | 7/9/2021 | | | | (18 | ) |
| KRW36,927,990 | | | | USD33,115 | | | Citibank | | 7/9/2021 | | | | (435 | ) |
| USD2,553 | | | | SEK21,030 | | | HSBC Bank | | 7/12/2021 | | | | 95 | |
| USD22,377 | | | | CNH144,260 | | | Standard Chartered Bank | | 7/12/2021 | | | | 94 | |
| USD1,773 | | | | CAD2,140 | | | Morgan Stanley | | 7/12/2021 | | | | 47 | |
| USD65 | | | | ILS210 | | | HSBC Bank | | 7/12/2021 | | | | — | 11 |
| JPY10 | | | | USD0 | | | Goldman Sachs | | 7/12/2021 | | | | — | 11 |
| MXN4,896 | | | | USD247 | | | Goldman Sachs | | 7/12/2021 | | | | (2 | ) |
| USD219 | | | | BRL1,114 | | | Citibank | | 7/12/2021 | | | | (4 | ) |
| EUR127,187 | | | | DKK945,910 | | | Goldman Sachs | | 7/12/2021 | | | | (17 | ) |
| EUR25,990 | | | | USD31,726 | | | Citibank | | 7/12/2021 | | | | (900 | ) |
| GBP31,460 | | | | USD44,528 | | | UBS AG | | 7/12/2021 | | | | (1,008 | ) |
| JPY20,383,390 | | | | USD186,626 | | | Goldman Sachs | | 7/12/2021 | | | | (3,131 | ) |
| USD23,262 | | | | IDR338,398,910 | | | Standard Chartered Bank | | 7/13/2021 | | | | 48 | |
| IDR334,851,920 | | | | USD23,401 | | | UBS AG | | 7/13/2021 | | | | (430 | ) |
| USD21,562 | | | | RUB1,575,300 | | | Citibank | | 7/14/2021 | | | | 73 | |
| USD20,950 | | | | RUB1,533,700 | | | Citibank | | 7/14/2021 | | | | 28 | |
| RUB629,394 | | | | USD8,597 | | | Citibank | | 7/14/2021 | | | | (12 | ) |
| BRL3,611 | | | | USD719 | | | Bank of New York Mellon | | 7/15/2021 | | | | 6 | |
| USD1,799 | | | | GBP1,300 | | | Bank of New York Mellon | | 7/15/2021 | | | | — | 11 |
| USD249 | | | | BRL1,262 | | | Citibank | | 7/15/2021 | | | | (4 | ) |
| JPY1,002,310 | | | | USD9,163 | | | Bank of New York Mellon | | 7/15/2021 | | | | (140 | ) |
| USD69,372 | | | | KRW78,713,200 | | | Citibank | | 7/15/2021 | | | | (284 | ) |
| EUR37,938 | | | | NOK391,040 | | | Morgan Stanley | | 7/15/2021 | | | | (420 | ) |
| KRW78,713,200 | | | | USD70,649 | | | Standard Chartered Bank | | 7/15/2021 | | | | (992 | ) |
| USD122,026 | | | | EUR100,798 | | | Citibank | | 7/16/2021 | | | | 2,466 | |
| USD81,784 | | | | CNH524,100 | | | Citibank | | 7/16/2021 | | | | 852 | |
| USD34,568 | | | | EUR28,510 | | | Goldman Sachs | | 7/16/2021 | | | | 751 | |
| USD24,599 | | | | AUD31,947 | | | Goldman Sachs | | 7/16/2021 | | | | 639 | |
32 | Capital World Bond Fund |
Forward currency contracts (continued)
| | | | | | | | | | Unrealized | |
| | | | | | | | | | (depreciation) | |
Contract amount | | | | | | | appreciation | |
Purchases | | | Sales | | | | | Settlement | | at 6/30/2021 | |
(000) | | | (000) | | | Counterparty | | date | | (000) | |
| USD24,579 | | | | AUD31,947 | | | Morgan Stanley | | 7/16/2021 | | | $ | 618 | |
| USD24,219 | | | | AUD31,470 | | | Citibank | | 7/16/2021 | | | | 616 | |
| USD29,173 | | | | GBP20,664 | | | Morgan Stanley | | 7/16/2021 | | | | 587 | |
| USD35,138 | | | | CAD43,070 | | | Goldman Sachs | | 7/16/2021 | | | | 393 | |
| USD42,863 | | | | JPY4,718,210 | | | Bank of America | | 7/16/2021 | | | | 388 | |
| USD24,375 | | | | JPY2,675,130 | | | Goldman Sachs | | 7/16/2021 | | | | 292 | |
| USD12,923 | | | | EUR10,810 | | | Bank of New York Mellon | | 7/16/2021 | | | | 101 | |
| USD3,665 | | | | CNH23,440 | | | Citibank | | 7/16/2021 | | | | 45 | |
| USD1,807 | | | | CAD2,193 | | | Goldman Sachs | | 7/16/2021 | | | | 38 | |
| USD3,347 | | | | EUR2,800 | | | Bank of New York Mellon | | 7/16/2021 | | | | 26 | |
| USD26,307 | | | | EUR22,170 | | | Goldman Sachs | | 7/16/2021 | | | | 10 | |
| USD243 | | | | COP888,558 | | | Citibank | | 7/16/2021 | | | | 6 | |
| USD240 | | | | COP889,444 | | | Goldman Sachs | | 7/16/2021 | | | | 3 | |
| JPY21,273 | | | | EUR160 | | | Bank of America | | 7/16/2021 | | | | 2 | |
| USD115 | | | | MXN2,280 | | | HSBC Bank | | 7/16/2021 | | | | 1 | |
| USD83 | | | | ILS270 | | | Bank of America | | 7/16/2021 | | | | — | 11 |
| AUD34 | | | | JPY2,870 | | | Bank of America | | 7/16/2021 | | | | — | 11 |
| USD0 | | | | NOK1 | | | Citibank | | 7/16/2021 | | | | — | 11 |
| MXN7,239 | | | | USD365 | | | HSBC Bank | | 7/16/2021 | | | | (2 | ) |
| GBP2,748 | | | | USD3,880 | | | Morgan Stanley | | 7/16/2021 | | | | (78 | ) |
| ZAR45,110 | | | | USD3,281 | | | Citibank | | 7/16/2021 | | | | (129 | ) |
| CHF5,200 | | | | USD5,798 | | | Bank of America | | 7/16/2021 | | | | (175 | ) |
| JPY2,943,760 | | | | USD26,780 | | | Bank of America | | 7/16/2021 | | | | (279 | ) |
| CAD68,213 | | | | USD56,224 | | | Goldman Sachs | | 7/16/2021 | | | | (1,196 | ) |
| JPY13,296,020 | | | | USD121,148 | | | Goldman Sachs | | 7/16/2021 | | | | (1,451 | ) |
| EUR208,647 | | | | USD252,588 | | | Citibank | | 7/16/2021 | | | | (5,100 | ) |
| USD117,714 | | | | CAD142,900 | | | Morgan Stanley | | 7/19/2021 | | | | 2,436 | |
| USD52,348 | | | | AUD67,830 | | | Standard Chartered Bank | | 7/19/2021 | | | | 1,474 | |
| USD24,972 | | | | NZD34,967 | | | Standard Chartered Bank | | 7/19/2021 | | | | 531 | |
| USD24,010 | | | | CAD29,149 | | | Citibank | | 7/19/2021 | | | | 495 | |
| USD15,547 | | | | EUR12,815 | | | Goldman Sachs | | 7/19/2021 | | | | 345 | |
| USD18,780 | | | | COP69,612,000 | | | Standard Chartered Bank | | 7/19/2021 | | | | 249 | |
| USD64,915 | | | | EUR54,620 | | | Bank of America | | 7/19/2021 | | | | 123 | |
| USD87,114 | | | | EUR73,410 | | | Goldman Sachs | | 7/19/2021 | | | | 32 | |
| BRL9,580 | | | | USD1,907 | | | Bank of New York Mellon | | 7/19/2021 | | | | 15 | |
| BRL1,234 | | | | USD245 | | | UBS AG | | 7/19/2021 | | | | 3 | |
| USD241 | | | | CLP174,752 | | | Goldman Sachs | | 7/19/2021 | | | | 3 | |
| MXN29,170 | | | | USD1,459 | | | Citibank | | 7/19/2021 | | | | 1 | |
| MXN4,804 | | | | USD239 | | | Standard Chartered Bank | | 7/19/2021 | | | | 1 | |
| EUR32,679 | | | | DKK243,030 | | | Bank of America | | 7/19/2021 | | | | (2 | ) |
| USD239 | | | | MXN4,886 | | | Goldman Sachs | | 7/19/2021 | | | | (5 | ) |
| CLP175,847 | | | | USD245 | | | Citibank | | 7/19/2021 | | | | (6 | ) |
| USD220 | | | | CLP166,560 | | | JPMorgan Chase | | 7/19/2021 | | | | (7 | ) |
| GBP7,660 | | | | USD10,813 | | | Bank of New York Mellon | | 7/19/2021 | | | | (216 | ) |
| CAD72,440 | | | | USD59,458 | | | HSBC Bank | | 7/19/2021 | | | | (1,020 | ) |
| KRW174,099,034 | | | | USD155,662 | | | Morgan Stanley | | 7/19/2021 | | | | (1,599 | ) |
| EUR330,084 | | | | USD400,454 | | | Goldman Sachs | | 7/19/2021 | | | | (8,898 | ) |
| USD53,585 | | | | BRL270,220 | | | Citibank | | 7/20/2021 | | | | (624 | ) |
| USD65,555 | | | | JPY7,241,740 | | | Bank of New York Mellon | | 7/21/2021 | | | | 359 | |
| USD19,712 | | | | GBP14,140 | | | Bank of America | | 7/21/2021 | | | | 151 | |
| USD28,518 | | | | JPY3,154,710 | | | HSBC Bank | | 7/21/2021 | | | | 117 | |
| USD13,172 | | | | EUR11,033 | | | Bank of America | | 7/21/2021 | | | | 83 | |
| MXN23,918 | | | | USD1,164 | | | Goldman Sachs | | 7/21/2021 | | | | 32 | |
| USD3,676 | | | | CNH23,750 | | | HSBC Bank | | 7/21/2021 | | | | 10 | |
| JPY1,206,570 | | | | EUR9,153 | | | JPMorgan Chase | | 7/21/2021 | | | | 4 | |
| USD361 | | | | COP1,348,606 | | | Standard Chartered Bank | | 7/21/2021 | | | | 2 | |
| CAD351 | | | | USD284 | | | Bank of New York Mellon | | 7/21/2021 | | | | — | 11 |
| CAD130 | | | | USD106 | | | HSBC Bank | | 7/21/2021 | | | | (1 | ) |
| ZAR5,000 | | | | USD354 | | | Citibank | | 7/21/2021 | | | | (5 | ) |
| CNH64,130 | | | | USD9,927 | | | HSBC Bank | | 7/21/2021 | | | | (27 | ) |
| JPY1,127,450 | | | | USD10,212 | | | Goldman Sachs | | 7/21/2021 | | | | (62 | ) |
| EUR44,590 | | | | CZK1,141,400 | | | Standard Chartered Bank | | 7/21/2021 | | | | (170 | ) |
Capital World Bond Fund | 33 |
Forward currency contracts (continued)
| | | | | | | | | | Unrealized | |
| | | | | | | | | | (depreciation) | |
Contract amount | | | | | | | appreciation | |
Purchases | | | Sales | | | | | Settlement | | at 6/30/2021 | |
(000) | | | (000) | | | Counterparty | | date | | (000) | |
| JPY13,660,305 | | | | USD124,482 | | | Standard Chartered Bank | | 7/21/2021 | | | $ | (1,500 | ) |
| JPY13,660,305 | | | | USD124,483 | | | Citibank | | 7/21/2021 | | | | (1,501 | ) |
| USD38,047 | | | | EUR31,370 | | | Goldman Sachs | | 7/22/2021 | | | | 832 | |
| MXN885,530 | | | | USD43,812 | | | JPMorgan Chase | | 7/22/2021 | | | | 488 | |
| USD18,704 | | | | COP69,745,000 | | | Bank of America | | 7/22/2021 | | | | 140 | |
| ZAR18,728 | | | | USD1,301 | | | Citibank | | 7/22/2021 | | | | 6 | |
| USD2,226 | | | | EUR1,874 | | | Morgan Stanley | | 7/22/2021 | | | | 3 | |
| USD2 | | | | CNH10 | | | HSBC Bank | | 7/22/2021 | | | | — | 11 |
| USD1,158 | | | | ILS3,800 | | | HSBC Bank | | 7/22/2021 | | | | (7 | ) |
| USD238 | | | | MXN4,944 | | | Citibank | | 7/22/2021 | | | | (9 | ) |
| USD18,546 | | | | AUD24,740 | | | Citibank | | 7/22/2021 | | | | (10 | ) |
| USD3,109 | | | | UAH85,740 | | | Citibank | | 7/22/2021 | | | | (12 | ) |
| USD10,335 | | | | NZD14,880 | | | Standard Chartered Bank | | 7/22/2021 | | | | (66 | ) |
| EUR64,299 | | | | USD76,389 | | | Morgan Stanley | | 7/22/2021 | | | | (110 | ) |
| USD33,127 | | | | MXN687,580 | | | Morgan Stanley | | 7/22/2021 | | | | (1,270 | ) |
| EUR71,550 | | | | USD86,437 | | | Bank of America | | 7/22/2021 | | | | (1,557 | ) |
| USD79,181 | | | | MXN1,646,286 | | | Bank of America | | 7/22/2021 | | | | (3,177 | ) |
| USD32,041 | | | | MYR133,081 | | | Standard Chartered Bank | | 7/23/2021 | | | | 25 | |
| USD5,427 | | | | MYR22,569 | | | Standard Chartered Bank | | 7/23/2021 | | | | (2 | ) |
| USD38,554 | | | | MYR160,860 | | | Standard Chartered Bank | | 7/23/2021 | | | | (144 | ) |
| USD289 | | | | MXN5,987 | | | Goldman Sachs | | 7/26/2021 | | | | (10 | ) |
| JPY14,951,775 | | | | USD135,638 | | | Citibank | | 7/26/2021 | | | | (1,023 | ) |
| USD85,451 | | | | GBP61,360 | | | HSBC Bank | | 7/28/2021 | | | | 564 | |
| USD66,546 | | | | EUR55,749 | | | Goldman Sachs | | 7/28/2021 | | | | 402 | |
| USD4,646 | | | | CAD5,716 | | | Morgan Stanley | | 7/28/2021 | | | | 35 | |
| JPY771,000 | | | | USD6,964 | | | Barclays Bank PLC | | 7/28/2021 | | | | (22 | ) |
| CZK98,330 | | | | USD4,617 | | | UBS AG | | 7/28/2021 | | | | (45 | ) |
| SEK135,600 | | | | USD16,032 | | | UBS AG | | 7/28/2021 | | | | (183 | ) |
| GBP21,657 | | | | USD30,160 | | | HSBC Bank | | 7/28/2021 | | | | (199 | ) |
| EUR97,453 | | | | USD116,327 | | | Goldman Sachs | | 7/28/2021 | | | | (703 | ) |
| MXN4,834 | | | | USD242 | | | Goldman Sachs | | 8/2/2021 | | | | — | 11 |
| USD31,194 | | | | EUR26,200 | | | Goldman Sachs | | 8/4/2021 | | | | 104 | |
| USD239 | | | | MXN4,757 | | | JPMorgan Chase | | 8/4/2021 | | | | 1 | |
| USD1,193 | | | | MYR4,940 | | | HSBC Bank | | 9/8/2021 | | | | 6 | |
| USD5,429 | | | | AUD7,000 | | | Bank of America | | 9/15/2021 | | | | 178 | |
| USD6,000 | | | | NOK51,222 | | | JPMorgan Chase | | 9/15/2021 | | | | 49 | |
| EUR7,000 | | | | CZK177,994 | | | Bank of America | | 9/15/2021 | | | | 42 | |
| USD1,832 | | | | JPY200,000 | | | Barclays Bank PLC | | 9/15/2021 | | | | 30 | |
| EUR1,000 | | | | PLN4,526 | | | HSBC Bank | | 9/15/2021 | | | | — | 11 |
| AUD10,000 | | | | USD7,513 | | | Citibank | | 9/15/2021 | | | | (11 | ) |
| PLN4,473 | | | | EUR1,000 | | | HSBC Bank | | 9/15/2021 | | | | (14 | ) |
| HUF698,156 | | | | EUR2,000 | | | HSBC Bank | | 9/15/2021 | | | | (23 | ) |
| CZK177,980 | | | | EUR7,000 | | | HSBC Bank | | 9/15/2021 | | | | (43 | ) |
| CAD3,623 | | | | USD3,000 | | | Barclays Bank PLC | | 9/15/2021 | | | | (78 | ) |
| NZD5,000 | | | | USD3,609 | | | Barclays Bank PLC | | 9/15/2021 | | | | (115 | ) |
| SEK33,022 | | | | USD4,000 | | | HSBC Bank | | 9/15/2021 | | | | (139 | ) |
| NOK32,958 | | | | USD4,000 | | | HSBC Bank | | 9/15/2021 | | | | (171 | ) |
| USD88,389 | | | | EUR72,800 | | | Standard Chartered Bank | | 9/20/2021 | | | | 1,916 | |
| BRL450,000 | | | | USD88,644 | | | Citibank | | 10/1/2021 | | | | 754 | |
| BRL8,000 | | | | USD1,554 | | | Goldman Sachs | | 10/1/2021 | | | | 36 | |
| USD83,884 | | | | BRL458,000 | | | JPMorgan Chase | | 10/1/2021 | | | | (7,103 | ) |
| USD125,085 | | | | BRL681,000 | | | JPMorgan Chase | | 10/1/2021 | | | | (10,206 | ) |
| USD1,397 | | | | BRL7,500 | | | Goldman Sachs | | 6/15/2022 | | | | (28 | ) |
| USD83,155 | | | | BRL440,000 | | | Citibank | | 6/15/2022 | | | | (460 | ) |
| | | | | | | | | | | | | $ | (37,090 | ) |
34 | Capital World Bond Fund |
Swap contracts
Interest rate swaps
| | | | | | | | | | | | Unrealized | |
| | | | | | | | | | Upfront | | appreciation | |
| | | | | | | | Value at | | premium | | (depreciation) | |
| | | | Expiration | | Notional | | 6/30/2021 | | paid (received) | | at 6/30/2021 | |
Receive | | Pay | | date | | (000) | | | (000) | | (000) | | (000) | |
(0.4592)% | | 6-month EURIBOR | | 3/2/2023 | | €33,910 | | $ | 11 | | | $ | — | | | $ | 11 | |
0.11108% | | SONIA | | 4/9/2023 | | £20,140 | | | (28 | ) | | | 5 | | | | (33 | ) |
(0.495)% | | 6-month EURIBOR | | 4/19/2023 | | €33,970 | | | (19 | ) | | | — | | | | (19 | ) |
3-month AUD-BBSW | | 0.30% | | 2/24/2024 | | A$20,000 | | | 43 | | | | — | | | | 43 | |
3-month AUD-BBSW | | 0.29% | | 3/4/2024 | | 127,650 | | | 311 | | | | — | | | | 311 | |
0.3653% | | 3-month USD-LIBOR | | 3/5/2024 | | $99,290 | | | (317 | ) | | | — | | | | (317 | ) |
(0.4545)% | | 6-month EURIBOR | | 4/1/2024 | | €288,600 | | | (393 | ) | | | — | | | | (393 | ) |
3-month SEK-STIBOR | | 0.1877% | | 2/6/2025 | | SKr250,000 | | | 122 | | | | — | | | | 122 | |
(0.4042)% | | 6-month EURIBOR | | 2/6/2025 | | €25,000 | | | (89 | ) | | | — | | | | (89 | ) |
U.S. EFFR | | 0.10875% | | 7/6/2025 | | $52,600 | | | 1,074 | | | | — | | | | 1,074 | |
U.S. EFFR | | 0.0995% | | 7/9/2025 | | 26,300 | | | 548 | | | | — | | | | 548 | |
U.S. EFFR | | 0.105% | | 7/9/2025 | | 26,300 | | | 542 | | | | — | | | | 542 | |
U.S. EFFR | | 0.099% | | 7/10/2025 | | 64,500 | | | 1,349 | | | | — | | | | 1,349 | |
(0.4982)% | | 6-month EURIBOR | | 12/14/2025 | | €13,400 | | | (145 | ) | | | — | | | | (145 | ) |
4.67% | | 28-day MXN-TIIE | | 12/16/2025 | | MXN24,000 | | | (89 | ) | | | — | | | | (89 | ) |
(0.4347)% | | 6-month EURIBOR | | 1/25/2026 | | €1,660 | | | (14 | ) | | | — | | | | (14 | ) |
3-month SEK-STIBOR | | 0.175% | | 2/9/2026 | | SKr349,200 | | | 311 | | | | — | | | | 311 | |
3-month SEK-STIBOR | | 0.179% | | 2/9/2026 | | 174,500 | | | 152 | | | | — | | | | 152 | |
3-month SEK-STIBOR | | 0.185% | | 2/11/2026 | | 175,100 | | | 148 | | | | — | | | | 148 | |
3-month SEK-STIBOR | | 0.189% | | 2/11/2026 | | 175,100 | | | 144 | | | | — | | | | 144 | |
(0.32994)% | | 6-month EURIBOR | | 2/24/2026 | | €13,630 | | | (37 | ) | | | 9 | | | | (46 | ) |
5.75% | | 28-day MXN-TIIE | | 4/2/2026 | | MXN22,300 | | | (38 | ) | | | — | | | | (38 | ) |
SONIA | | 0.42345% | | 4/9/2026 | | £2,190 | | | 4 | | | | 3 | | | | 1 | |
6.21% | | 28-day MXN-TIIE | | 5/21/2026 | | MXN605,500 | | | (476 | ) | | | — | | | | (476 | ) |
6.255% | | 28-day MXN-TIIE | | 5/22/2026 | | 400,800 | | | (276 | ) | | | — | | | | (277 | ) |
6.21% | | 28-day MXN-TIIE | | 5/22/2026 | | 400,800 | | | (315 | ) | | | — | | | | (315 | ) |
6.19% | | 28-day MXN-TIIE | | 5/22/2026 | | 405,100 | | | (336 | ) | | | — | | | | (336 | ) |
6.15% | | 28-day MXN-TIIE | | 5/25/2026 | | 400,700 | | | (371 | ) | | | — | | | | (371 | ) |
6.14% | | 28-day MXN-TIIE | | 6/8/2026 | | 222,400 | | | (214 | ) | | | — | | | | (214 | ) |
6.115% | | 28-day MXN-TIIE | | 6/8/2026 | | 222,400 | | | (226 | ) | | | — | | | | (226 | ) |
6.12% | | 28-day MXN-TIIE | | 6/8/2026 | | 336,100 | | | (337 | ) | | | — | | | | (337 | ) |
6.13% | | 28-day MXN-TIIE | | 6/8/2026 | | 780,900 | | | (766 | ) | | | — | | | | (766 | ) |
6.16% | | 28-day MXN-TIIE | | 6/9/2026 | | 444,800 | | | (408 | ) | | | — | | | | (408 | ) |
6.15% | | 28-day MXN-TIIE | | 6/9/2026 | | 444,700 | | | (418 | ) | | | — | | | | (418 | ) |
6.23% | | 28-day MXN-TIIE | | 6/10/2026 | | 227,300 | | | (174 | ) | | | — | | | | (174 | ) |
6.195% | | 28-day MXN-TIIE | | 6/10/2026 | | 227,200 | | | (191 | ) | | | — | | | | (191 | ) |
6.36% | | 28-day MXN-TIIE | | 6/12/2026 | | 197,300 | | | (96 | ) | | | — | | | | (96 | ) |
6.5375% | | 28-day MXN-TIIE | | 6/17/2026 | | 108,000 | | | (11 | ) | | | — | | | | (11 | ) |
6.50% | | 28-day MXN-TIIE | | 6/17/2026 | | 104,100 | | | (19 | ) | | | — | | | | (19 | ) |
6.55% | | 28-day MXN-TIIE | | 6/17/2026 | | 324,000 | | | (24 | ) | | | — | | | | (24 | ) |
6.47% | | 28-day MXN-TIIE | | 6/17/2026 | | 106,400 | | | (27 | ) | | | — | | | | (27 | ) |
6.55% | | 28-day MXN-TIIE | | 6/18/2026 | | 105,200 | | | (8 | ) | | | — | | | | (8 | ) |
6.50% | | 28-day MXN-TIIE | | 6/18/2026 | | 208,200 | | | (38 | ) | | | — | | | | (38 | ) |
6.633% | | 28-day MXN-TIIE | | 6/25/2026 | | 1,267,300 | | | 118 | | | | — | | | | 118 | |
6.6175% | | 28-day MXN-TIIE | | 6/25/2026 | | 1,218,200 | | | 73 | | | | — | | | | 73 | |
6.64% | | 28-day MXN-TIIE | | 6/25/2026 | | 459,600 | | | 50 | | | | — | | | | 50 | |
6.59% | | 28-day MXN-TIIE | | 6/25/2026 | | 284,300 | | | — | 11 | | | — | | | | — | 11 |
6.585% | | 28-day MXN-TIIE | | 6/25/2026 | | 373,600 | | | (4 | ) | | | — | | | | (4 | ) |
6.58% | | 28-day MXN-TIIE | | 6/25/2026 | | 1,095,600 | | | (24 | ) | | | — | | | | (24 | ) |
0.57521% | | SONIA | | 4/9/2028 | | £17,370 | | | 8 | | | | (30 | ) | | | 38 | |
1.67625% | | 6-month AUD-BBSW | | 2/24/2031 | | A$6,300 | | | 51 | | | | — | | | | 51 | |
6-month EURIBOR | | 0.0417% | | 3/2/2031 | | €6,790 | | | 29 | | | | — | | | | 29 | |
1.72375% | | 6-month AUD-BBSW | | 3/4/2031 | | A$48,570 | | | 542 | | | | — | | | | 542 | |
3-month USD-LIBOR | | 1.4822% | | 3/5/2031 | | $36,290 | | | (285 | ) | | | — | | | | (285 | ) |
6-month EURIBOR | | 0.0757% | | 4/19/2031 | | €6,810 | | | 10 | | | | — | | | | 10 | |
SONIA | | 0.70119% | | 4/21/2031 | | £4,190 | | | — | 11 | | | 6 | | | | (6 | ) |
0.92214% | | SONIA | | 4/9/2041 | | 11,750 | | | 224 | | | | (105 | ) | | | 329 | |
6-month EURIBOR | | (0.0393)% | | 12/14/2050 | | €2,220 | | | 387 | | | | — | | | | 387 | |
6-month EURIBOR | | 0.39402% | | 2/24/2051 | | 2,390 | | | 67 | | | | (8 | ) | | | 75 | |
6-month EURIBOR | | 0.5092% | | 4/1/2051 | | 30,600 | | | (344 | ) | | | — | | | | (344 | ) |
Capital World Bond Fund | 35 |
Swap contracts (continued)
Interest rate swaps (continued)
Receive | | Pay | | Expiration date | | Notional (000) | | Value at 6/30/2021 (000) | | Upfront premium paid (received) (000) | | Unrealized appreciation (depreciation) at 6/30/2021 (000) | |
0.86007% | | SONIA | | 4/21/2051 | | £ 760 | | $ | 9 | | | $ | (5 | ) | | $ | 14 | |
SONIA | | 0.8601% | | 4/21/2051 | | 550 | | | (7 | ) | | | 3 | | | | (10 | ) |
| | | | | | | | | | | | $ | (122 | ) | | $ | (116 | ) |
| | | | | | | | | | | | | | | | | | |
Credit default swaps | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | |
Centrally cleared credit default swaps on credit indices — buy protection |
| | | | | | | | | | | | | | | | | | |
Receive | | Pay/ Payment frequency | | Expiration date | | Notional (000) | | Value at 6/30/2021 (000) | | Upfront premium paid (received) (000) | | Unrealized depreciation at 6/30/2021 (000) | |
CDX.EM.35 | | 1.00%/Quarterly | | 6/20/2026 | | $ 5,400 | | $ | 141 | | | $ | 190 | | | $ | (49 | ) |
ITRXEUR.IG.35 | | 1.00%/Quarterly | | 6/20/2026 | | 54,108 | | | (1,704 | ) | | | (1,509 | ) | | | (195 | ) |
CDX.NA.HY.36 | | 5.00%/Quarterly | | 6/20/2026 | | 112,548 | | | (11,484 | ) | | | (9,980 | ) | | | (1,504 | ) |
| | | | | | | | | | | | $ | (11,299 | ) | | $ | (1,748 | ) |
| | | | | | | | | | | | | | | | | | |
Centrally cleared credit default swaps on credit indices — sell protection |
| | | | | | | | | | | | | | | | | | |
Receive/ Payment frequency | | Pay | | Expiration date | | Notional (000) | | Value at 6/30/2021 (000) | | Upfront premium paid (000) | | Unrealized appreciation at 6/30/2021 (000) | |
1.00%/Quarterly | | CDX.NA.IG.36 | | 6/20/2026 | | $194,840 | | $ | 4,948 | | | $ | 4,748 | | | $ | 200 | |
Investments in affiliates16
| | Value of affiliate at 1/1/2021 (000) | | Additions (000) | | Reductions (000) | | Net realized loss (000) | | Net unrealized depreciation (000) | | Value of affiliate at 6/30/2021 (000) | | Dividend income (000) |
Short-term securities 4.99% | | | | | | | | | | | | | | |
Money market investments 4.99% | | | | | | | | | | | | | | |
Capital Group Central Cash Fund 0.04%15 | | $1,107,321 | | $2,468,542 | | $2,799,379 | | $(19 | ) | $(68 | ) | $776,397 | | $494 |
1 | Step bond; coupon rate may change at a later date. |
2 | Acquired in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $1,355,875,000, which represented 8.72% of the net assets of the fund. |
3 | Index-linked bond whose principal amount moves with a government price index. |
4 | Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date. |
5 | Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $14,812,000, which represented .10% of the net assets of the fund. |
6 | Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available. |
7 | Payment in kind; the issuer has the option of paying additional securities in lieu of cash. Most recent payment was 100% cash unless otherwise noted. |
8 | Scheduled interest and/or principal payment was not received. |
9 | Valued under fair value procedures adopted by authority of the board of trustees. The total value of all such securities was $9,277,000, which represented .06% of the net assets of the fund. |
10 | Value determined using significant unobservable inputs. |
11 | Amount less than one thousand. |
12 | All or a portion of this security was pledged as collateral. The total value of pledged collateral was $87,490,000, which represented .56% of the net assets of the fund. |
13 | Purchased on a TBA basis. |
14 | Security did not produce income during the last 12 months. |
15 | Rate represents the seven-day yield at 6/30/2021. |
16 | Part of the same “group of investment companies” as the fund as defined under the Investment Company Act of 1940, as amended. |
17 | Notional amount is calculated based on the number of contracts and notional contract size. |
18 | Value is calculated based on the notional amount and current market price. |
36 | Capital World Bond Fund |
Key to abbreviations and symbols
AUD/A$ = Australian dollars
BA = Banker’s acceptances
BBSW = Bank Bill Swap Rate
BRL = Brazilian reais
CAD/C$ = Canadian dollars
CHF = Swiss francs
CLP = Chilean pesos
CMT = Constant Maturity Treasury
CNH/CNY = Chinese yuan renminbi
COP = Colombian pesos
CZK = Czech korunas
DAC = Designated Activity Company
DKK/DKr = Danish kroner
EFFR = Effective Federal Funds Rate
EGP = Egyptian pounds
EUR/€ = Euros
EURIBOR = Euro Interbank Offered Rate
GBP/£ = British pounds
GHS = Ghanaian cedi
HUF = Hungarian forints
ICE = Intercontinental Exchange, Inc.
IDR = Indonesian rupiah
ILS = Israeli shekels
INR = Indian rupees
JPY/¥ = Japanese yen
KRW = South Korean won
LIBOR = London Interbank Offered Rate
MXN = Mexican pesos
MYR = Malaysian ringgits
NOK/NKr = Norwegian kroner
NZD = New Zealand dollars
PEN = Peruvian nuevos soles
PLN = Polish zloty
Ref. = Refunding
Rev. = Revenue
RON = Romanian leu
RUB = Russian rubles
SEK/SKr = Swedish kronor
SOFR = Secured Overnight Financing Rate
SONIA = Sterling Overnight Interbank Average Rate
STIBOR = Stockholm Interbank Offered Rate
TBA = To-be-announced
THB = Thai baht
TIIE = Equilibrium Interbank Interest Rate
TRY = Turkish lira
UAH = Ukrainian hryvnia
USD/$ = U.S. dollars
ZAR = South African rand
ZMW = Zambian kwacha
See notes to financial statements.
Capital World Bond Fund | 37 |
Financial statements
Statement of assets and liabilities | unaudited |
at June 30, 2021 | (dollars in thousands) |
| |
Assets: | | | | | | | | |
Investment securities, at value: | | | | | | | | |
Unaffiliated issuers (cost: $14,547,209) | | $ | 14,895,132 | | | | | |
Affiliated issuers (cost: $776,432) | | | 776,397 | | | $ | 15,671,529 | |
Cash | | | | | | | 293 | |
Cash denominated in currencies other than U.S. dollars (cost: $697) | | | | | | | 463 | |
Unrealized appreciation on open forward currency contracts | | | | | | | 22,566 | |
Receivables for: | | | | | | | | |
Sales of investments | | | 183,558 | | | | | |
Sales of fund’s shares | | | 18,689 | | | | | |
Dividends and interest | | | 108,049 | | | | | |
Variation margin on futures contracts | | | 3,498 | | | | | |
Variation margin on swap contracts | | | 1,926 | | | | | |
Other | | | 204 | | | | 315,924 | |
| | | | | | | 16,010,775 | |
Liabilities: | | | | | | | | |
Unrealized depreciation on open forward currency contracts | | | | | | | 59,656 | |
Payables for: | | | | | | | | |
Purchases of investments | | | 374,954 | | | | | |
Repurchases of fund’s shares | | | 8,098 | | | | | |
Investment advisory services | | | 5,478 | | | | | |
Services provided by related parties | | | 2,444 | | | | | |
Trustees’ deferred compensation | | | 255 | | | | | |
Variation margin on futures contracts | | | 3,512 | | | | | |
Variation margin on swap contracts | | | 875 | | | | | |
Other | | | 924 | | | | 396,540 | |
Net assets at June 30, 2021 | | | | | | $ | 15,554,579 | |
| | | | | | | | |
Net assets consist of: | | | | | | | | |
Capital paid in on shares of beneficial interest | | | | | | $ | 15,206,725 | |
Total distributable earnings | | | | | | | 347,854 | |
Net assets at June 30, 2021 | | | | | | $ | 15,554,579 | |
See notes to financial statements.
38 | Capital World Bond Fund |
Financial statements (continued)
Statement of assets and liabilities | unaudited |
at June 30, 2021 (continued) | |
(dollars and shares in thousands, except per-share amounts)
Shares of beneficial interest issued and outstanding (no stated par value) —
unlimited shares authorized (757,462 total shares outstanding)
| | | | | Shares | | | Net asset value | |
| | Net assets | | | outstanding | | | per share | |
Class A | | $ | 5,817,604 | | | | 283,187 | | | $ | 20.54 | |
Class C | | | 99,949 | | | | 4,952 | | | | 20.18 | |
Class T | | | 11 | | | | — | * | | | 20.53 | |
Class F-1 | | | 161,144 | | | | 7,862 | | | | 20.49 | |
Class F-2 | | | 1,263,559 | | | | 61,610 | | | | 20.51 | |
Class F-3 | | | 1,244,409 | | | | 60,621 | | | | 20.53 | |
Class 529-A | | | 318,691 | | | | 15,465 | | | | 20.61 | |
Class 529-C | | | 15,404 | | | | 756 | | | | 20.36 | |
Class 529-E | | | 13,037 | | | | 637 | | | | 20.46 | |
Class 529-T | | | 12 | | | | 1 | | | | 20.54 | |
Class 529-F-1 | | | 10 | | | | 1 | | | | 20.46 | |
Class 529-F-2 | | | 43,302 | | | | 2,108 | | | | 20.54 | |
Class 529-F-3 | | | 10 | | | | — | * | | | 20.54 | |
Class R-1 | | | 6,952 | | | | 342 | | | | 20.33 | |
Class R-2 | | | 99,478 | | | | 4,900 | | | | 20.30 | |
Class R-2E | | | 6,657 | | | | 325 | | | | 20.49 | |
Class R-3 | | | 136,296 | | | | 6,645 | | | | 20.51 | |
Class R-4 | | | 93,790 | | | | 4,569 | | | | 20.53 | |
Class R-5E | | | 24,812 | | | | 1,210 | | | | 20.51 | |
Class R-5 | | | 55,600 | | | | 2,705 | | | | 20.56 | |
Class R-6 | | | 6,153,852 | | | | 299,566 | | | | 20.54 | |
| |
* | Amount less than one thousand. |
See notes to financial statements.
Capital World Bond Fund | 39 |
Financial statements (continued)
Statement of operations | unaudited |
for the six months ended June 30, 2021 | (dollars in thousands) |
| |
Investment income: | | | | | | | | |
Income: | | | | | | | | |
Interest (net of non-U.S. taxes of $846) | | $ | 177,436 | | | | | |
Dividends (includes $494 from affiliates) | | | 534 | | | $ | 177,970 | |
Fees and expenses*: | | | | | | | | |
Investment advisory services | | | 32,319 | | | | | |
Distribution services | | | 9,952 | | | | | |
Transfer agent services | | | 7,138 | | | | | |
Administrative services | | | 2,256 | | | | | |
Reports to shareholders | | | 328 | | | | | |
Registration statement and prospectus | | | 342 | | | | | |
Trustees’ compensation | | | 59 | | | | | |
Auditing and legal | | | 151 | | | | | |
Custodian | | | 556 | | | | | |
Other | | | 206 | | | | | |
Total fees and expenses before reimbursement | | | 53,307 | | | | | |
Less reimbursement of fees and expenses: | | | | | | | | |
Transfer agent services reimbursement | | | — | † | | | | |
Total fees and expenses after reimbursement | | | | | | | 53,307 | |
Net investment income | | | | | | | 124,663 | |
| | | | | | | | |
Net realized gain and unrealized depreciation: | | | | | | | | |
Net realized gain (loss) on: | | | | | | | | |
Investments (net of non-U.S. taxes of $581): | | | | | | | | |
Unaffiliated issuers | | | 203,783 | | | | | |
Affiliated issuers | | | (19 | ) | | | | |
Futures contracts | | | (8,054 | ) | | | | |
Forward currency contracts | | | (82,766 | ) | | | | |
Swap contracts | | | (2,222 | ) | | | | |
Currency transactions | | | 1,463 | | | | 112,185 | |
Net unrealized depreciation on: | | | | | | | | |
Investments (net of non-U.S. taxes of $303): | | | | | | | | |
Unaffiliated issuers | | | (675,547 | ) | | | | |
Affiliated issuers | | | (68 | ) | | | | |
Futures contracts | | | (3,184 | ) | | | | |
Forward currency contracts | | | (40,270 | ) | | | | |
Swap contracts | | | (4,726 | ) | | | | |
Currency translations | | | (2,897 | ) | | | (726,692 | ) |
Net realized gain and unrealized depreciation | | | | | | | (614,507 | ) |
| | | | | | | | |
Net decrease in net assets resulting from operations | | | | | | $ | (489,844 | ) |
| |
* | Additional information related to class-specific fees and expenses is included in the notes to financial statements. |
† | Amount less than one thousand. |
See notes to financial statements.
40 | Capital World Bond Fund |
Financial statements (continued)
Statements of changes in net assets
(dollars in thousands)
| | Six months ended | | | Year ended | |
| | June 30, | | | December 31, | |
| | 2021* | | | 2020 | |
Operations: | | | | | | | | |
Net investment income | | $ | 124,663 | | | $ | 253,736 | |
Net realized gain | | | 112,185 | | | | 333,206 | |
Net unrealized (depreciation) appreciation | | | (726,692 | ) | | | 699,589 | |
Net (decrease) increase in net assets resulting from operations | | | (489,844 | ) | | | 1,286,531 | |
| | | | | | | | |
Distributions paid to shareholders | | | (227,139 | ) | | | (486,189 | ) |
| | | | | | | | |
Net capital share transactions | | | 1,447,818 | | | | (322,747 | ) |
| | | | | | | | |
Total increase in net assets | | | 730,835 | | | | 477,595 | |
| | | | | | | | |
Net assets: | | | | | | | | |
Beginning of period | | | 14,823,744 | | | | 14,346,149 | |
End of period | | $ | 15,554,579 | | | $ | 14,823,744 | |
See notes to financial statements.
Capital World Bond Fund | 41 |
Notes to financial statements | unaudited |
1. Organization
Capital World Bond Fund (the “fund”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end, nondiversified management investment company. The fund seeks to provide, over the long term, a high level of total return consistent with prudent investment management. Total return comprises the income generated by the fund and the changes in the market value of the fund’s investments.
The fund has 21 share classes consisting of six retail share classes (Classes A, C, T, F-1, F-2 and F-3), seven 529 college savings plan share classes (Classes 529-A, 529-C, 529-E, 529-T, 529-F-1, 529-F-2 and 529-F-3) and eight retirement plan share classes (Classes R-1, R-2, R-2E, R-3, R-4, R-5E, R-5 and R-6). The 529 college savings plan share classes can be used to save for college education. The retirement plan share classes are generally offered only through eligible employer-sponsored retirement plans. The fund’s share classes are described further in the following table:
Share class | | Initial sales charge | | Contingent deferred sales charge upon redemption | | Conversion feature | |
Classes A and 529-A | | Up to 3.75% for Class A; up to 3.50% for Class 529-A | | None (except 1% for certain redemptions within 18 months of purchase without an initial sales charge) | | None | |
Classes C and 529-C | | None | | 1% for redemptions within one year of purchase | | Class C converts to Class A after eight years and Class 529-C converts to Class 529-A after five years | |
Class 529-E | | None | | None | | None | |
Classes T and 529-T* | | Up to 2.50% | | None | | None | |
Classes F-1, F-2, F-3, 529-F-1, 529-F-2 and 529-F-3 | | None | | None | | None | |
Classes R-1, R-2, R-2E, R-3, R-4, R-5E, R-5 and R-6 | | None | | None | | None | |
* Class T and 529-T shares are not available for purchase.
Holders of all share classes have equal pro rata rights to the assets, dividends and liquidation proceeds of the fund. Each share class has identical voting rights, except for the exclusive right to vote on matters affecting only its class. Share classes have different fees and expenses (“class-specific fees and expenses”), primarily due to different arrangements for distribution, transfer agent and administrative services. Differences in class-specific fees and expenses will result in differences in net investment income and, therefore, the payment of different per-share dividends by each share class.
2. Significant accounting policies
The fund is an investment company that applies the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board. The fund’s financial statements have been prepared to comply with U.S. generally accepted accounting principles (“U.S. GAAP”). These principles require the fund’s investment adviser to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates. Subsequent events, if any, have been evaluated through the date of issuance in the preparation of the financial statements. The fund follows the significant accounting policies described in this section, as well as the valuation policies described in the next section on valuation.
Security transactions and related investment income — Security transactions are recorded by the fund as of the date the trades are executed with brokers. Realized gains and losses from security transactions are determined based on the specific identified cost of the securities. In the event a security is purchased with a delayed payment date, the fund will segregate liquid assets sufficient to meet its payment obligations. Dividend income is recognized on the ex-dividend date and interest income is recognized on an accrual basis. Market discounts, premiums and original issue discounts on fixed-income securities are amortized daily over the expected life of the security.
Class allocations — Income, fees and expenses (other than class-specific fees and expenses), realized gains and losses and unrealized appreciation and depreciation are allocated daily among the various share classes based on their relative net assets. Class-specific fees and expenses, such as distribution, transfer agent and administrative services, are charged directly to the respective share class.
Distributions paid to shareholders — Income dividends and capital gain distributions are recorded on the ex-dividend date.
42 | Capital World Bond Fund |
Currency translation — Assets and liabilities, including investment securities, denominated in currencies other than U.S. dollars are translated into U.S. dollars at the exchange rates supplied by one or more pricing vendors on the valuation date. Purchases and sales of investment securities and income and expenses are translated into U.S. dollars at the exchange rates on the dates of such transactions. The effects of changes in exchange rates on investment securities are included with the net realized gain or loss and net unrealized appreciation or depreciation on investments in the fund’s statement of operations. The realized gain or loss and unrealized appreciation or depreciation resulting from all other transactions denominated in currencies other than U.S. dollars are disclosed separately.
3. Valuation
Capital Research and Management Company (“CRMC”), the fund’s investment adviser, values the fund’s investments at fair value as defined by U.S. GAAP. The net asset value per share is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open.
Methods and inputs — The fund’s investment adviser uses the following methods and inputs to establish the fair value of the fund’s assets and liabilities. Use of particular methods and inputs may vary over time based on availability and relevance as market and economic conditions evolve.
Equity securities are generally valued at the official closing price of, or the last reported sale price on, the exchange or market on which such securities are traded, as of the close of business on the day the securities are being valued or, lacking any sales, at the last available bid price. Prices for each security are taken from the principal exchange or market on which the security trades.
Fixed-income securities, including short-term securities, are generally valued at prices obtained from one or more pricing vendors. Vendors value such securities based on one or more of the inputs described in the following table. The table provides examples of inputs that are commonly relevant for valuing particular classes of fixed-income securities in which the fund is authorized to invest. However, these classifications are not exclusive, and any of the inputs may be used to value any other class of fixed-income security.
Fixed-income class | Examples of standard inputs |
All | Benchmark yields, transactions, bids, offers, quotations from dealers and trading systems, new issues, spreads and other relationships observed in the markets among comparable securities; and proprietary pricing models such as yield measures calculated using factors such as cash flows, financial or collateral performance and other reference data (collectively referred to as “standard inputs”) |
Corporate bonds, notes & loans; convertible securities | Standard inputs and underlying equity of the issuer |
Bonds & notes of governments & government agencies | Standard inputs and interest rate volatilities |
Mortgage-backed; asset-backed obligations | Standard inputs and cash flows, prepayment information, default rates, delinquency and loss assumptions, collateral characteristics, credit enhancements and specific deal information |
Municipal securities | Standard inputs and, for certain distressed securities, cash flows or liquidation values using a net present value calculation based on inputs that include, but are not limited to, financial statements and debt contracts |
When the fund’s investment adviser deems it appropriate to do so (such as when vendor prices are unavailable or deemed to be not representative), fixed-income securities will be valued in good faith at the mean quoted bid and ask prices that are reasonably and timely available (or bid prices, if ask prices are not available) or at prices for securities of comparable maturity, quality and type.
Securities with both fixed-income and equity characteristics, or equity securities traded principally among fixed-income dealers, are generally valued in the manner described for either equity or fixed-income securities, depending on which method is deemed most appropriate by the fund’s investment adviser. The Capital Group Central Cash Fund (“CCF”), a fund within the Capital Group Central Fund Series (“Central Funds”), is valued based upon a floating net asset value, which fluctuates with changes in the value of CCF’s portfolio securities. The underlying securities are valued based on the policies and procedures in CCF’s statement of additional information. Exchange-traded futures are generally valued at the official settlement price of the exchange or market on which such instruments are traded, as of the close of business on the day the futures are being valued. Forward currency contracts are valued based on the spot and forward exchange rates obtained from one or more pricing vendors. Interest rate swaps and credit default swaps are generally valued by pricing vendors based on market inputs that include the index and term of index, reset frequency, payer/receiver, currency and pay frequency.
Capital World Bond Fund | 43 |
Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the fund’s investment adviser are fair valued as determined in good faith under fair valuation guidelines adopted by authority of the fund’s board of trustees as further described. The investment adviser follows fair valuation guidelines, consistent with U.S. Securities and Exchange Commission rules and guidance, to consider relevant principles and factors when making fair value determinations. The investment adviser considers relevant indications of value that are reasonably and timely available to it in determining the fair value to be assigned to a particular security, such as the type and cost of the security; contractual or legal restrictions on resale of the security; relevant financial or business developments of the issuer; actively traded similar or related securities; conversion or exchange rights on the security; related corporate actions; significant events occurring after the close of trading in the security; and changes in overall market conditions. In addition, the closing prices of equity securities that trade in markets outside U.S. time zones may be adjusted to reflect significant events that occur after the close of local trading but before the net asset value of each share class of the fund is determined. Fair valuations and valuations of investments that are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred.
Processes and structure — The fund’s board of trustees has delegated authority to the fund’s investment adviser to make fair value determinations, subject to board oversight. The investment adviser has established a Joint Fair Valuation Committee (the “Fair Valuation Committee”) to administer, implement and oversee the fair valuation process, and to make fair value decisions. The Fair Valuation Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser’s valuation teams. The Fair Valuation Committee reviews changes in fair value measurements from period to period and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. The Fair Valuation Committee reports any changes to the fair valuation guidelines to the board of trustees. The fund’s board and audit committee also regularly review reports that describe fair value determinations and methods.
The fund’s investment adviser has also established a Fixed-Income Pricing Review Group to administer and oversee the fixed-income valuation process, including the use of fixed-income pricing vendors. This group regularly reviews pricing vendor information and market data. Pricing decisions, processes and controls over security valuation are also subject to additional internal reviews facilitated by the investment adviser’s global risk management group.
Classifications — The fund’s investment adviser classifies the fund’s assets and liabilities into three levels based on the inputs used to value the assets or liabilities. Level 1 values are based on quoted prices in active markets for identical securities. Level 2 values are based on significant observable market inputs, such as quoted prices for similar securities and quoted prices in inactive markets. Certain securities trading outside the U.S. may transfer between Level 1 and Level 2 due to valuation adjustments resulting from significant market movements following the close of local trading. Level 3 values are based on significant unobservable inputs that reflect the investment adviser’s determination of assumptions that market participants might reasonably use in valuing the securities. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. For example, U.S. government securities are
44 | Capital World Bond Fund |
reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market. The following tables present the fund’s valuation levels as of June 30, 2021 (dollars in thousands):
| | Investment securities | |
| | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
Assets: | | | | | | | | | | | | | | | | |
Bonds, notes & other debt instruments: | | | | | | | | | | | | | | | | |
Euros | | $ | — | | | $ | 2,616,459 | | | $ | — | | | $ | 2,616,459 | |
Chinese yuan renminbi | | | — | | | | 1,414,147 | | | | — | | | | 1,414,147 | |
Japanese yen | | | — | | | | 1,413,295 | | | | — | | | | 1,413,295 | |
British pounds | | | — | | | | 612,641 | | | | — | | | | 612,641 | |
Canadian dollars | | | — | | | | 333,495 | | | | — | | | | 333,495 | |
Danish kroner | | | — | | | | 306,661 | | | | — | | | | 306,661 | |
Mexican pesos | | | — | | | | 304,658 | | | | — | | | | 304,658 | |
Brazilian reais | | | — | | | | 290,326 | | | | — | | | | 290,326 | |
Australian dollars | | | — | | | | 235,848 | | | | — | | | | 235,848 | |
Russian rubles | | | — | | | | 220,009 | | | | — | | | | 220,009 | |
Malaysian ringgits | | | — | | | | 153,470 | | | | — | | | | 153,470 | |
Indonesian rupiah | | | — | | | | 91,166 | | | | — | | | | 91,166 | |
Colombian pesos | | | — | | | | 87,375 | | | | — | | | | 87,375 | |
Indian rupees | | | — | | | | 70,185 | | | | — | | | | 70,185 | |
Czech korunas | | | — | | | | 61,311 | | | | — | | | | 61,311 | |
Norwegian kroner | | | — | | | | 52,885 | | | | — | | | | 52,885 | |
Ukrainian hryvnia | | | — | | | | 42,064 | | | | — | | | | 42,064 | |
South Korean won | | | — | | | | 39,974 | | | | — | | | | 39,974 | |
Polish zloty | | | — | | | | 21,839 | | | | — | | | | 21,839 | |
Ghanaian cedi | | | — | | | | 16,052 | | | | — | | | | 16,052 | |
South African rand | | | — | | | | 13,422 | | | | — | | | | 13,422 | |
Thai baht | | | — | | | | 11,591 | | | | — | | | | 11,591 | |
Peruvian nuevos soles | | | — | | | | 10,296 | | | | — | | | | 10,296 | |
Romanian leu | | | — | | | | 7,768 | | | | — | | | | 7,768 | |
Hungarian forints | | | — | | | | 3,389 | | | | — | | | | 3,389 | |
Israeli shekels | | | — | | | | 3,022 | | | | — | | | | 3,022 | |
Egyptian pounds | | | — | | | | 2,926 | | | | — | | | | 2,926 | |
Turkish lira | | | — | | | | 1,961 | | | | — | | | | 1,961 | |
Chilean pesos | | | — | | | | 1,430 | | | | — | | | | 1,430 | |
Zambian kwacha | | | — | | | | 179 | | | | — | | | | 179 | |
U.S. dollars | | | — | | | | 6,217,389 | | | | 431 | | | | 6,217,820 | |
Convertible bonds & notes | | | — | | | | 3,132 | | | | — | | | | 3,132 | |
Convertible stocks | | | — | | | | 379 | | | | — | | | | 379 | |
Preferred securities | | | — | | | | — | | | | 195 | | | | 195 | |
Common stocks | | | 5,089 | | | | 1,203 | | | | 8,651 | | | | 14,943 | |
Rights & warrants | | | — | | | | — | | | | — | * | | | — | * |
Short-term securities | | | 776,397 | | | | 218,819 | | | | — | | | | 995,216 | |
Total | | $ | 781,486 | | | $ | 14,880,766 | | | $ | 9,277 | | | $ | 15,671,529 | |
| | Other investments† | |
| | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
Assets: | | | | | | | | | | | | | | | | |
Unrealized appreciation on futures contracts | | $ | 11,734 | | | $ | — | | | $ | — | | | $ | 11,734 | |
Unrealized appreciation on open forward currency contracts | | | — | | | | 22,566 | | | | — | | | | 22,566 | |
Unrealized appreciation on interest rate swaps | | | — | | | | 6,472 | | | | — | | | | 6,472 | |
Unrealized appreciation on credit default swaps | | | — | | | | 200 | | | | — | | | | 200 | |
Liabilities: | | | | | | | | | | | | | | | | |
Unrealized depreciation on futures contracts | | | (11,845 | ) | | | — | | | | — | | | | (11,845 | ) |
Unrealized depreciation on open forward currency contracts | | | — | | | | (59,656 | ) | | | — | | | | (59,656 | ) |
Unrealized depreciation on interest rate swaps | | | — | | | | (6,588 | ) | | | — | | | | (6,588 | ) |
Unrealized depreciation on credit default swaps | | | — | | | | (1,748 | ) | | | — | | | | (1,748 | ) |
Total | | $ | (111 | ) | | $ | (38,754 | ) | | $ | — | | | $ | (38,865 | ) |
* | Amount less than one thousand. |
† | Futures contracts, forward currency contracts, interest rate swaps and credit default swaps are not included in the fund’s investment portfolio. |
Capital World Bond Fund | 45 |
4. Risk factors
Investing in the fund may involve certain risks including, but not limited to, those described below.
Market conditions — The prices of, and the income generated by, the securities held by the fund may decline — sometimes rapidly or unpredictably — due to various factors, including events or conditions affecting the general economy or particular industries; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; and currency exchange rate, interest rate and commodity price fluctuations.
Economies and financial markets throughout the world are highly interconnected. Economic, financial or political events, trading and tariff arrangements, wars, terrorism, cybersecurity events, natural disasters, public health emergencies (such as the spread of infectious disease) and other circumstances in one country or region, including actions taken by governmental or quasi-governmental authorities in response to any of the foregoing, could have impacts on global economies or markets. As a result, whether or not the fund invests in securities of issuers located in or with significant exposure to the countries affected, the value and liquidity of the fund’s investments may be negatively affected by developments in other countries and regions.
Issuer risks — The prices of, and the income generated by, securities held by the fund may decline in response to various factors directly related to the issuers of such securities, including reduced demand for an issuer’s goods or services, poor management performance, major litigation, investigations or other controversies related to the issuer, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives such as mergers, acquisitions or dispositions and the market response to any such initiatives.
Investing in debt instruments — The prices of, and the income generated by, bonds and other debt securities held by the fund may be affected by factors such as the interest rates, maturities and credit ratings of these securities.
Rising interest rates will generally cause the prices of bonds and other debt securities to fall. A general rise in interest rates may cause investors to sell debt securities on a large scale, which could also adversely affect the price and liquidity of debt securities and could also result in increased redemptions from the fund. Falling interest rates may cause an issuer to redeem, call or refinance a debt security before its stated maturity, which may result in the fund failing to recoup the full amount of its initial investment and having to reinvest the proceeds in lower yielding securities. Longer maturity debt securities generally have greater sensitivity to changes in interest rates and may be subject to greater price fluctuations than shorter maturity debt securities.
Bonds and other debt securities are also subject to credit risk, which is the possibility that the credit strength of an issuer or guarantor will weaken or be perceived to be weaker, and/or an issuer of a debt security will fail to make timely payments of principal or interest and the security will go into default. A downgrade or default affecting any of the fund’s securities could cause the value of the fund’s shares to decrease. Lower quality debt securities generally have higher rates of interest and may be subject to greater price fluctuations than higher quality debt securities. Credit risk is gauged, in part, by the credit ratings of the debt securities in which the fund invests. However, ratings are only the opinions of the rating agencies issuing them and are not guarantees as to credit quality or an evaluation of market risk. The fund’s investment adviser relies on its own credit analysts to research issuers and issues in seeking to assess credit and default risks.
Liquidity risk — Certain fund holdings may be or may become difficult or impossible to sell, particularly during times of market turmoil. Liquidity may be impacted by the lack of an active market for a holding, legal or contractual restrictions on resale, or the reduced number and capacity of market participants to make a market in such holding. Market prices for less liquid or illiquid holdings may be volatile, and reduced liquidity may have an adverse impact on the market price of such holdings. Additionally, the sale of less liquid or illiquid holdings may involve substantial delays (including delays in settlement) and additional costs and the fund may be unable to sell such holdings when necessary to meet its liquidity needs or may be forced to sell at a loss.
Investing in lower rated debt instruments — Lower rated bonds and other lower rated debt securities generally have higher rates of interest and involve greater risk of default or price declines due to changes in the issuer’s creditworthiness than those of higher quality debt securities. The market prices of these securities may fluctuate more than the prices of higher quality debt securities and may decline significantly in periods of general economic difficulty. These risks may be increased with respect to investments in junk bonds.
Currency — The prices of, and the income generated by, many debt securities held by the fund may also be affected by changes in relative currency values. If the U.S. dollar appreciates against foreign currencies, the value in U.S. dollars of the fund’s securities denominated in such currencies would generally fall and vice versa. U.S. dollar-denominated securities of foreign issuers may also be affected by changes in relative currency values.
46 | Capital World Bond Fund |
Investing in derivatives — The use of derivatives involves a variety of risks, which may be different from, or greater than, the risks associated with investing in traditional securities, such as stocks and bonds. Changes in the value of a derivative may not correlate perfectly with, and may be more sensitive to market events than, the underlying asset, rate or index, and a derivative instrument may expose the fund to losses in excess of its initial investment. Derivatives may be difficult to value, difficult for the fund to buy or sell at an opportune time or price and difficult, or even impossible, to terminate or otherwise offset. The fund’s use of derivatives may result in losses to the fund, and investing in derivatives may reduce the fund’s returns and increase the fund’s price volatility. The fund’s counterparty to a derivative transaction (including, if applicable, the fund’s clearing broker, the derivatives exchange or the clearinghouse) may be unable or unwilling to honor its financial obligations in respect of the transaction. In certain cases, the fund may be hindered or delayed in exercising remedies against or closing out derivative instruments with a counterparty, which may result in additional losses.
Investing in inflation-linked bonds — The values of inflation-linked bonds generally fluctuate in response to changes in real interest rates —i.e., rates of interest after factoring in inflation. A rise in real interest rates may cause the prices of inflation-linked securities to fall, while a decline in real interest rates may cause the prices to increase. Inflation-linked bonds may experience greater losses than other debt securities with similar durations when real interest rates rise faster than nominal interest rates. There can be no assurance that the value of an inflation-linked security will be directly correlated to changes in interest rates; for example, if interest rates rise for reasons other than inflation, the increase may not be reflected in the security’s inflation measure.
Investing in inflation-linked bonds may also reduce the fund’s distributable income during periods of deflation. If prices for goods and services decline throughout the economy, the principal and income on inflation-linked securities may decline and result in losses to the fund.
Investing outside the U.S. — Securities of issuers domiciled outside the U.S., or with significant operations or revenues outside the U.S., may lose value because of adverse political, social, economic or market developments (including social instability, regional conflicts, terrorism and war) in the countries or regions in which the issuers operate or generate revenue. These securities may also lose value due to changes in foreign currency exchange rates against the U.S. dollar and/or currencies of other countries. Issuers of these securities may be more susceptible to actions of foreign governments, such as nationalization, currency blockage or the imposition of price controls or punitive taxes, each of which could adversely impact the value of these securities. Securities markets in certain countries may be more volatile and/or less liquid than those in the U.S. Investments outside the U.S. may also be subject to different accounting practices and different regulatory, legal and reporting standards and practices, and may be more difficult to value, than those in the U.S. In addition, the value of investments outside the U.S. may be reduced by foreign taxes, including foreign withholding taxes on interest and dividends. Further, there may be increased risks of delayed settlement of securities purchased or sold by the fund. The risks of investing outside the U.S. may be heightened in connection with investments in emerging markets.
Investing in emerging markets — Investing in emerging markets may involve risks in addition to and greater than those generally associated with investing in the securities markets of developed countries. For instance, emerging market countries may have less developed legal and accounting systems than those in developed countries. The governments of these countries may be less stable and more likely to impose capital controls, nationalize a company or industry, place restrictions on foreign ownership and on withdrawing sale proceeds of securities from the country, and/or impose punitive taxes that could adversely affect the prices of securities. In addition, the economies of these countries may be dependent on relatively few industries that are more susceptible to local and global changes. Securities markets in these countries can also be relatively small and have substantially lower trading volumes. As a result, securities issued in these countries may be more volatile and less liquid, and may be more difficult to value, than securities issued in countries with more developed economies and/or markets. Less certainty with respect to security valuations may lead to additional challenges and risks in calculating the fund’s net asset value. Additionally, emerging markets are more likely to experience problems with the clearing and settling of trades and the holding of securities by banks, agents and depositories that are less established than those in developed countries.
Nondiversification risk — As a nondiversified fund, the fund has the ability to invest a larger percentage of its assets in the securities of a smaller number of issuers than a diversified fund. Although the fund does not intend to limit its investments to the securities of a small number of issuers, if it were to do so, poor performance by a single large holding could adversely impact the fund’s investment results more than if the fund were invested in a larger number of issuers.
Management — The investment adviser to the fund actively manages the fund’s investments. Consequently, the fund is subject to the risk that the methods and analyses, including models, tools and data, employed by the investment adviser in this process may be flawed or incorrect and may not produce the desired results. This could cause the fund to lose value or its investment results to lag relevant benchmarks or other funds with similar objectives.
Capital World Bond Fund | 47 |
5. Certain investment techniques
Index-linked bonds — The fund has invested in index-linked bonds, which are fixed-income securities whose principal value is periodically adjusted to a government price index. Over the life of an index-linked bond, interest is paid on the adjusted principal value. Increases or decreases in the principal value of index-linked bonds are recorded as interest income in the fund’s statement of operations.
Mortgage dollar rolls — The fund has entered into mortgage dollar roll transactions in which the fund sells a mortgage-backed security to a counterparty and simultaneously enters into an agreement with the same counterparty to buy back a similar security on a specific future date at a predetermined price. Mortgage dollar rolls are accounted for as purchase and sale transactions. Portfolio turnover rates excluding and including mortgage dollar rolls are presented at the end of the fund’s financial highlights table.
Loan transactions — The fund has entered into loan transactions in which the fund acquires a loan either through an agent, by assignment from another holder, or as a participation interest in another holder’s portion of a loan. The loan is often administered by a financial institution that acts as agent for the holders of the loan, and the fund may be required to receive approval from the agent and/or borrower prior to the sale of the investment. The loan’s interest rate and maturity date may change based on the terms of the loan, including potential early payments of principal.
Unfunded commitments — The fund has participated in transactions that involve unfunded commitments, which may obligate the fund to purchase new or additional bonds if certain contingencies are met. As of June 30, 2021, the fund’s maximum exposure of unfunded bond commitments was $144,000, which would represent less than .01% of the net assets of the fund should such commitments become due.
Futures contracts — The fund has entered into futures contracts, which provide for the future sale by one party and purchase by another party of a specified amount of a specific financial instrument for a specified price, date, time and place designated at the time the contract is made. Futures contracts are used to strategically manage the fund’s interest rate sensitivity by increasing or decreasing the duration of the fund or a portion of the fund’s portfolio.
Upon entering into futures contracts, and to maintain the fund’s open positions in futures contracts, the fund is required to deposit with a futures broker, known as a futures commission merchant (“FCM”), in a segregated account in the name of the FCM an amount of cash, U.S. government securities or other liquid securities, known as initial margin. The margin required for a particular futures contract is set by the exchange on which the contract is traded to serve as collateral, and may be significantly modified from time to time by the exchange during the term of the contract.
On a daily basis, the fund pays or receives variation margin based on the increase or decrease in the value of the futures contracts and records variation margin on futures contracts in the statement of assets and liabilities. In addition, the fund segregates liquid assets equivalent to the fund’s outstanding obligations under the contract in excess of the initial margin and variation margin, if any. Futures contracts may involve a risk of loss in excess of the variation margin shown on the fund’s statement of assets and liabilities. The fund records realized gains or losses at the time the futures contract is closed or expires. Net realized gains or losses and net unrealized appreciation or depreciation from futures contracts are recorded in the fund’s statement of operations. The average month-end notional amount of futures contracts while held was $4,435,569,000.
Forward currency contracts — The fund has entered into forward currency contracts, which represent agreements to exchange currencies on specific future dates at predetermined rates. The fund’s investment adviser uses forward currency contracts to manage the fund’s exposure to changes in exchange rates. Upon entering into these contracts, risks may arise from the potential inability of counterparties to meet the terms of their contracts and from possible movements in exchange rates.
On a daily basis, the fund’s investment adviser values forward currency contracts and records unrealized appreciation or depreciation for open forward currency contracts in the fund’s statement of assets and liabilities. Realized gains or losses are recorded at the time the forward currency contract is closed or offset by another contract with the same broker for the same settlement date and currency.
Closed forward currency contracts that have not reached their settlement date are included in the respective receivables or payables for closed forward currency contracts in the fund’s statement of assets and liabilities. Net realized gains or losses from closed forward currency contracts and net unrealized appreciation or depreciation from open forward currency contracts are recorded in the fund’s statement of operations. The average month-end notional amount of open forward currency contracts while held was $4,555,974,000.
48 | Capital World Bond Fund |
Interest rate swaps — The fund has entered into interest rate swap contracts, which are agreements to exchange one stream of future interest payments for another based on a specified notional amount. Typically, interest rate swaps exchange a fixed interest rate for a payment that floats relative to a benchmark or vice versa. The fund’s investment adviser uses interest rate swaps to seek to manage the interest rate sensitivity of the fund by increasing or decreasing the duration of the fund or a portion of the fund’s portfolio. Risks may arise as a result of the fund’s investment adviser incorrectly anticipating changes in interest rates, increased volatility, reduced liquidity and the potential inability of counterparties to meet the terms of their agreements.
Upon entering into an interest rate swap contract, the fund is required to deposit cash, U.S. government securities or other liquid securities, which is known as initial margin. Generally, the initial margin required for a particular interest rate swap is set and held as collateral by the clearinghouse on which the contract is cleared. The amount of initial margin required may be significantly modified from time to time by the clearinghouse during the term of the contract.
On a daily basis, the fund’s investment adviser records daily interest accruals related to the exchange of future payments as a receivable and payable in the fund’s statement of assets and liabilities. The fund also pays or receives a variation margin based on the increase or decrease in the value of the interest rate swaps, including accrued interest, and records variation margin on interest rate swaps in the statement of assets and liabilities. The fund records realized gains and losses on both the net accrued interest and any gain or loss recognized at the time the interest rate swap is closed or expires. Net realized gains or losses, as well as any net unrealized appreciation or depreciation, from interest rate swaps are recorded in the fund’s statement of operations. The average month-end notional amount of interest rate swaps while held was $995,941,000.
Credit default swap indices — The fund has entered into centrally cleared credit default swap agreements on credit indices (“CDSI”) that involve one party (the protection buyer) making a stream of payments to another party (the protection seller) in exchange for the right to receive a specified return upon the occurrence of a credit event, such as a default or restructuring, with respect to any of the underlying issuers (reference obligations) in the referenced index. The fund’s investment adviser uses credit default swaps to assume exposure to a diversified portfolio of credits or to hedge against existing credit risks.
CDSI are portfolios of credit instruments or exposures designed to be representative of some part of the credit market, such as the high-yield or investment-grade credit market. CDSI are generally traded using standardized terms, including a fixed spread and standard maturity dates, and reference all the names in the index. If there is a credit event, it is settled based on that name’s weight in the index. The composition of the underlying issuers or obligations within a particular index may change periodically, usually every six months. A specified credit event may affect all or individual underlying reference obligations included in the index, and will be settled based upon the relative weighting of the affected obligation(s) within the index. The value of each CDSI can be used as a measure of the current payment/performance risk of the CDSI and represents the likelihood of an expected liability or profit should the notional amount of the CDSI be closed or sold as of the period end. An increasing value, as compared to the notional amount of the CDSI, represents a deterioration of the referenced indices’ credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement. When the fund provides sell protection, its maximum exposure is the notional amount of the credit default swap agreement.
Upon entering into a centrally cleared CDSI contract, the fund is required to deposit with a derivatives clearing member (“DCM”) in a segregated account in the name of the DCM an amount of cash, U.S. government securities or other liquid securities, which is known as initial margin. Generally, the initial margin required for a particular credit default swap is set and held as collateral by the clearinghouse on which the contract is cleared. The amount of initial margin required may be significantly modified from time to time by the clearinghouse during the term of the contract.
On a daily basis, interest accruals related to the exchange of future payments are recorded as a receivable and payable in the fund’s statement of assets and liabilities. The fund also pays or receives a variation margin based on the increase or decrease in the value of the CDSI, and records variation margin in the statement of assets and liabilities. The fund records realized gains and losses on both the net accrued interest and any gain or loss recognized at the time the swap is closed or expires. Net realized gains or losses, as well as any net unrealized appreciation or depreciation, from credit default swaps are recorded in the fund’s statement of operations. The average month-end notional amount of credit default swaps while held was $538,341,000.
Capital World Bond Fund | 49 |
The following tables identify the location and fair value amounts on the fund’s statement of assets and liabilities and the effect on the fund’s statement of operations resulting from the fund’s use of futures contracts, forward currency contracts, interest rate swaps and credit default swaps as of, or for the six months ended, June 30, 2021 (dollars in thousands):
| | | | Assets | | | Liabilities | |
Contracts | | Risk type | | Location on statement of assets and liabilities | | Value | | | Location on statement of assets and liabilities | | Value | |
Futures | | Interest | | Unrealized appreciation* | | $ | 11,734 | | | Unrealized depreciation* | | $ | 11,845 | |
Forward currency | | Currency | | Unrealized appreciation on open forward currency contracts | | | 22,566 | | | Unrealized depreciation on open forward currency contracts | | | 59,656 | |
Swap | | Interest | | Unrealized appreciation* | | | 6,472 | | | Unrealized depreciation* | | | 6,588 | |
Swap | | Credit | | Unrealized appreciation* | | | 200 | | | Unrealized depreciation* | | | 1,748 | |
| | | | | | $ | 40,972 | | | | | $ | 79,837 | |
| | | | | | | | | | | | | | |
| | | | Net realized (loss) gain | | | Net unrealized (depreciation) appreciation | |
Contracts | | Risk type | | Location on statement of operations | | Value | | | Location on statement of operations | | Value | |
Futures | | Interest | | Net realized loss on futures contracts | | $ | (8,054 | ) | | Net unrealized depreciation on futures contracts | | $ | (3,184 | ) |
Forward currency | | Currency | | Net realized loss on forward currency contracts | | | (82,766 | ) | | Net unrealized depreciation on forward currency contracts | | | (40,270 | ) |
Swap | | Interest | | Net realized gain on swap contracts | | | 2,796 | | | Net unrealized depreciation on swap contracts | | | (7,295 | ) |
Swap | | Credit | | Net realized loss on swap contracts | | | (5,018 | ) | | Net unrealized appreciation on swap contracts | | | 2,569 | |
| | | | | | $ | (93,042 | ) | | | | $ | (48,180 | ) |
* | Includes cumulative appreciation/depreciation on futures contracts, interest rate swaps and credit default swaps as reported in the applicable tables following the fund’s investment portfolio. Only current day’s variation margin is reported within the fund’s statement of assets and liabilities. |
Collateral — The fund receives or pledges highly liquid assets, such as cash or U.S. government securities, as collateral due to its use of futures contracts, forward currency contracts, interest rate swaps, credit default swaps and future delivery contracts. For futures contracts, interest rate swaps and credit default swaps, the fund pledges collateral for initial and variation margin by contract. For forward currency contracts, the fund either receives or pledges collateral based on the net gain or loss on unsettled forward currency contracts by counterparty. For future delivery contracts, the fund either receives or pledges collateral based on the net gain or loss on unsettled contracts by certain counterparties. The purpose of the collateral is to cover potential losses that could occur in the event that either party cannot meet its contractual obligation. Non-cash collateral pledged by the fund, if any, is disclosed in the fund’s investment portfolio, and cash collateral pledged by the fund, if any, is held in a segregated account with the fund’s custodian, which is reflected as pledged cash collateral in the fund’s statement of assets and liabilities.
Rights of offset — The fund has entered into enforceable master netting agreements with certain counterparties for forward currency contracts, where on any date amounts payable by each party to the other (in the same currency with respect to the same transaction) may be closed or offset by each party’s payment obligation. If an early termination date occurs under these agreements following an event of default or termination event, all obligations of each party to its counterparty are settled net through a single payment in a single currency (“close-out netting”). For financial reporting purposes, the fund does not offset financial assets and financial liabilities that are subject to these master netting arrangements in the statement of assets and liabilities.
50 | Capital World Bond Fund |
The following table presents the fund’s forward currency contracts by counterparty that are subject to master netting agreements but that are not offset in the fund’s statement of assets and liabilities. The net amount column shows the impact of offsetting on the fund’s statement of assets and liabilities as of June 30, 2021, if close-out netting was exercised (dollars in thousands):
| | Gross amounts recognized in the | | | Gross amounts not offset in the statement of assets and liabilities and subject to a master netting agreement | | | | |
Counterparty | | statement of assets and liabilities | | | Available to offset | | | Non-cash collateral* | | | Cash collateral* | | | Net amount | |
Assets: | | | | | | | | | | | | | | | | | | | | |
Bank of America | | $ | 1,399 | | | $ | (1,399 | ) | | $ | — | | | $ | — | | | $ | — | |
Bank of New York Mellon | | | 507 | | | | (507 | ) | | | — | | | | — | | | | — | |
Barclays Bank PLC | | | 31 | | | | (31 | ) | | | — | | | | — | | | | — | |
Citibank | | | 5,404 | | | | (5,404 | ) | | | — | | | | — | | | | — | |
Goldman Sachs | | | 3,912 | | | | (3,912 | ) | | | — | | | | — | | | | — | |
HSBC Bank | | | 1,626 | | | | (1,626 | ) | | | — | | | | — | | | | — | |
JPMorgan Chase | | | 679 | | | | (679 | ) | | | — | | | | — | | | | — | |
Morgan Stanley | | | 3,726 | | | | (3,477 | ) | | | — | | | | — | | | | 249 | |
Standard Chartered Bank | | | 5,279 | | | | (3,051 | ) | | | — | | | | (2,228 | ) | | | — | |
UBS AG | | | 3 | | | | (3 | ) | | | — | | | | — | | | | — | |
Total | | $ | 22,566 | | | $ | (20,089 | ) | | $ | — | | | $ | (2,228 | ) | | $ | 249 | |
Liabilities: | | | | | | | | | | | | | | | | | | | | |
Bank of America | | $ | 5,190 | | | $ | (1,399 | ) | | $ | (3,791 | ) | | $ | — | | | $ | — | |
Bank of New York Mellon | | | 694 | | | | (507 | ) | | | (187 | ) | | | — | | | | — | |
Barclays Bank PLC | | | 215 | | | | (31 | ) | | | (164 | ) | | | — | | | | 20 | |
Citibank | | | 10,767 | | | | (5,404 | ) | | | (4,106 | ) | | | — | | | | 1,257 | |
Goldman Sachs | | | 15,634 | | | | (3,912 | ) | | | (9,227 | ) | | | — | | | | 2,495 | |
HSBC Bank | | | 1,646 | | | | (1,626 | ) | | | (20 | ) | | | — | | | | — | |
JPMorgan Chase | | | 17,316 | | | | (679 | ) | | | (16,637 | ) | | | — | | | | — | |
Morgan Stanley | | | 3,477 | | | | (3,477 | ) | | | — | | | | — | | | | — | |
Standard Chartered Bank | | | 3,051 | | | | (3,051 | ) | | | — | | | | — | | | | — | |
UBS AG | | | 1,666 | | | | (3 | ) | | | (1,445 | ) | | | — | | | | 218 | |
Total | | $ | 59,656 | | | $ | (20,089 | ) | | $ | (35,577 | ) | | $ | — | | | $ | 3,990 | |
* | Collateral is shown on a settlement basis. |
6. Taxation and distributions
Federal income taxation — The fund complies with the requirements under Subchapter M of the Internal Revenue Code applicable to mutual funds and intends to distribute substantially all of its net taxable income and net capital gains each year. The fund is not subject to income taxes to the extent such distributions are made. Therefore, no federal income tax provision is required.
As of and during the period ended June 30, 2021, the fund did not have a liability for any unrecognized tax benefits. The fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the statement of operations. During the period, the fund did not incur any significant interest or penalties.
The fund’s tax returns are generally not subject to examination by federal, state and, if applicable, non-U.S. tax authorities after the expiration of each jurisdiction’s statute of limitations, which is typically three years after the date of filing but can be extended in certain jurisdictions.
Non-U.S. taxation — Dividend and interest income are recorded net of non-U.S. taxes paid. The fund may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability. Gains realized by the fund on the sale of securities in certain countries, if any, may be subject to non-U.S. taxes. If applicable, the fund records an estimated deferred tax liability based on unrealized gains to provide for potential non-U.S. taxes payable upon the sale of these securities.
Capital World Bond Fund | 51 |
Distributions — Distributions determined on a tax basis may differ from net investment income and net realized gains for financial reporting purposes. These differences are due primarily to different treatment for items such as currency gains and losses; short-term capital gains and losses; capital losses related to sales of certain securities within 30 days of purchase; cost of investments sold; non-U.S. taxes on capital gains; amortization of premiums and discounts and income on certain investments. The fiscal year in which amounts are distributed may differ from the year in which the net investment income and net realized gains are recorded by the fund for financial reporting purposes.
The components of distributable earnings on a tax basis are reported as of the fund’s most recent year-end. As of December 31, 2020, the components of distributable earnings on a tax basis were as follows (dollars in thousands):
Undistributed long-term capital gains | | $ | 92,232 | |
Late year ordinary loss deferral1 | | | (17,141 | ) |
1 | This deferral is considered incurred in the subsequent year. |
As of June 30, 2021, the tax basis unrealized appreciation (depreciation) and cost of investments were as follows (dollars in thousands):
Gross unrealized appreciation on investments | | $ | 580,033 | |
Gross unrealized depreciation on investments | | | (282,048 | ) |
Net unrealized appreciation on investments | | | 297,985 | |
Cost of investments | | | 15,341,352 | |
Distributions paid were characterized for tax purposes as follows (dollars in thousands):
| | Six months ended June 30, 2021 | | | Year ended December 31, 2020 | |
Share class | | Ordinary income2 | | | Long-term capital gains | | | Total distributions paid | | | Ordinary income | | | Long-term capital gains | | | Total distributions paid | |
Class A | | $ | 44,846 | | | $ | 34,715 | | | $ | 79,561 | | | $ | 115,663 | | | $ | 71,624 | | | $ | 187,287 | |
Class C | | | 428 | | | | 608 | | | | 1,036 | | | | 1,807 | | | | 1,457 | | | | 3,264 | |
Class T | | | — | 3 | | | — | 3 | | | — | 3 | | | — | 3 | | | — | 3 | | | — | 3 |
Class F-1 | | | 1,279 | | | | 968 | | | | 2,247 | | | | 3,878 | | | | 2,256 | | | | 6,134 | |
Class F-2 | | | 11,604 | | | | 7,543 | | | | 19,147 | | | | 25,678 | | | | 14,023 | | | | 39,701 | |
Class F-3 | | | 11,999 | | | | 7,371 | | | | 19,370 | | | | 32,399 | | | | 13,735 | | | | 46,134 | |
Class 529-A | | | 2,416 | | | | 1,895 | | | | 4,311 | | | | 6,215 | | | | 3,980 | | | | 10,195 | |
Class 529-C | | | 63 | | | | 93 | | | | 156 | | | | 410 | | | | 235 | | | | 645 | |
Class 529-E | | | 91 | | | | 78 | | | | 169 | | | | 257 | | | | 169 | | | | 426 | |
Class 529-T | | | — | 3 | | | — | 3 | | | — | 3 | | | — | 3 | | | — | 3 | | | — | 3 |
Class 529-F-1 | | | — | 3 | | | — | 3 | | | — | 3 | | | 649 | | | | 21 | | | | 670 | |
Class 529-F-24 | | | 391 | | | | 258 | | | | 649 | | | | 266 | | | | 494 | | | | 760 | |
Class 529-F-34 | | | — | 3 | | | — | 3 | | | — | 3 | | | — | 3 | | | — | 3 | | | — | 3 |
Class R-1 | | | 29 | | | | 42 | | | | 71 | | | | 99 | | | | 93 | | | | 192 | |
Class R-2 | | | 446 | | | | 603 | | | | 1,049 | | | | 1,469 | | | | 1,297 | | | | 2,766 | |
Class R-2E | | | 41 | | | | 42 | | | | 83 | | | | 124 | | | | 91 | | | | 215 | |
Class R-3 | | | 922 | | | | 818 | | | | 1,740 | | | | 2,514 | | | | 1,755 | | | | 4,269 | |
Class R-4 | | | 762 | | | | 558 | | | | 1,320 | | | | 1,943 | | | | 1,148 | | | | 3,091 | |
Class R-5E | | | 230 | | | | 149 | | | | 379 | | | | 340 | | | | 293 | | | | 633 | |
Class R-5 | | | 533 | | | | 332 | | | | 865 | | | | 1,279 | | | | 666 | | | | 1,945 | |
Class R-6 | | | 58,700 | | | | 36,286 | | | | 94,986 | | | | 115,428 | | | | 62,434 | | | | 177,862 | |
Total | | $ | 134,780 | | | $ | 92,359 | | | $ | 227,139 | | | $ | 310,418 | | | $ | 175,771 | | | $ | 486,189 | |
2 | All or a portion of these amounts may later be determined as return of capital; the determination will be made at December 31, 2021. |
3 | Amount less than one thousand. |
4 | Class 529-F-2 and 529-F-3 shares began investment operations on October 30, 2020. |
7. Fees and transactions with related parties
CRMC, the fund’s investment adviser, is the parent company of American Funds Distributors®, Inc. (“AFD”), the principal underwriter of the fund’s shares, and American Funds Service Company® (“AFS”), the fund’s transfer agent. CRMC, AFD and AFS are considered related parties to the fund.
52 | Capital World Bond Fund |
Investment advisory services — The fund has an investment advisory and service agreement with CRMC that provides for monthly fees accrued daily. These fees are based on a series of decreasing annual rates beginning with 0.570% on the first $1 billion of daily net assets and decreasing to 0.360% on such assets in excess of $15 billion. For the six months ended June 30, 2021, the investment advisory services fees were $32,319,000, which were equivalent to an annualized rate of 0.430% of average daily net assets.
Class-specific fees and expenses — Expenses that are specific to individual share classes are accrued directly to the respective share class. The principal class-specific fees and expenses are further described below:
Distribution services — The fund has plans of distribution for all share classes, except Class F-2, F-3, 529-F-2, 529-F-3, R-5E, R-5 and R-6 shares. Under the plans, the board of trustees approves certain categories of expenses that are used to finance activities primarily intended to sell fund shares and service existing accounts. The plans provide for payments, based on an annualized percentage of average daily net assets, ranging from 0.30% to 1.00% as noted in this section. In some cases, the board of trustees has limited the amounts that may be paid to less than the maximum allowed by the plans. All share classes with a plan may use up to 0.25% of average daily net assets to pay service fees, or to compensate AFD for paying service fees, to firms that have entered into agreements with AFD to provide certain shareholder services. The remaining amounts available to be paid under each plan are paid to dealers to compensate them for their sales activities.
Share class | Currently approved limits | | Plan limits |
Class A | | 0.30 | % | | 0.30 | % |
Class 529-A | | 0.30 | | | 0.50 | |
Classes C, 529-C and R-1 | | 1.00 | | | 1.00 | |
Class R-2 | | 0.75 | | | 1.00 | |
Class R-2E | | 0.60 | | | 0.85 | |
Classes 529-E and R-3 | | 0.50 | | | 0.75 | |
Classes T, F-1, 529-T, 529-F-1 and R-4 | | 0.25 | | | 0.50 | |
For Class A and 529-A shares, distribution-related expenses include the reimbursement of dealer and wholesaler commissions paid by AFD for certain shares sold without a sales charge. These share classes reimburse AFD for amounts billed within the prior 15 months but only to the extent that the overall annual expense limits are not exceeded. As of June 30, 2021, there were no unreimbursed expenses subject to reimbursement for Class A or 529-A shares.
Transfer agent services — The fund has a shareholder services agreement with AFS under which the fund compensates AFS for providing transfer agent services to each of the fund’s share classes. These services include recordkeeping, shareholder communications and transaction processing. In addition, the fund reimburses AFS for amounts paid to third parties for performing transfer agent services on behalf of fund shareholders. For the six months ended June 30, 2021, CRMC reimbursed transfer agent services fees of less than $1,000 for Class 529-F-3 shares. CRMC does not intend to recoup this reimbursement.
Administrative services — The fund has an administrative services agreement with CRMC under which the fund compensates CRMC for providing administrative services to all share classes. Administrative services are provided by CRMC and its affiliates to help assist third parties providing non-distribution services to fund shareholders. These services include providing in-depth information on the fund and market developments that impact fund investments. Administrative services also include, but are not limited to, coordinating, monitoring and overseeing third parties that provide services to fund shareholders. The agreement provides the fund the ability to charge an administrative services fee at the annual rate of 0.05% of the average daily net assets attributable to each share class of the fund. Currently the fund pays CRMC an administrative services fee at the annual rate of 0.03% of the average daily net assets attributable to each share class of the fund for CRMC’s provision of administrative services.
529 plan services — Each 529 share class is subject to service fees to compensate the Virginia College Savings Plan (“Virginia529”) for its oversight and administration of the CollegeAmerica 529 college savings plan. The fee is based on the combined net assets invested in Class 529 and ABLE shares of the American Funds. Class ABLE shares are offered on other American Funds by Virginia529 through ABLEAmerica®, a tax-advantaged savings program for individuals with disabilities. The quarterly fee is based on a series of decreasing annual rates beginning with 0.09% on the first $20 billion of the combined net assets invested in the American Funds and decreasing to 0.03% on such assets in excess of $100 billion. The fee for any given calendar quarter is accrued and calculated on the basis of the average net assets of Class 529 and ABLE shares of the American Funds for the last month of the prior calendar quarter. The fee is included in other expenses in the fund’s statement of operations. Virginia529 is not considered a related party to the fund.
Capital World Bond Fund | 53 |
For the six months ended June 30, 2021, class-specific expenses under the agreements were as follows (dollars in thousands):
| | Distribution | | | Transfer agent | | | Administrative | | | 529 plan | |
Share class | | services | | | services | | | services | | | services | |
Class A | | | $7,824 | | | | $5,411 | | | | $873 | | | | Not applicable | |
Class C | | | 524 | | | | 99 | | | | 16 | | | | Not applicable | |
Class T | | | — | | | | — | * | | | — | * | | | Not applicable | |
Class F-1 | | | 218 | | | | 185 | | | | 26 | | | | Not applicable | |
Class F-2 | | | Not applicable | | | | 691 | | | | 182 | | | | Not applicable | |
Class F-3 | | | Not applicable | | | | 12 | | | | 178 | | | | Not applicable | |
Class 529-A | | | 377 | | | | 280 | | | | 48 | | | | $96 | |
Class 529-C | | | 79 | | | | 14 | | | | 3 | | | | 5 | |
Class 529-E | | | 32 | | | | 5 | | | | 2 | | | | 4 | |
Class 529-T | | | — | | | | — | * | | | — | * | | | — | * |
Class 529-F-1 | | | — | | | | — | * | | | — | * | | | — | * |
Class 529-F-2 | | | Not applicable | | | | 24 | | | | 6 | | | | 12 | |
Class 529-F-3 | | | Not applicable | | | | — | * | | | — | * | | | — | * |
Class R-1 | | | 34 | | | | 5 | | | | 1 | | | | Not applicable | |
Class R-2 | | | 378 | | | | 188 | | | | 15 | | | | Not applicable | |
Class R-2E | | | 21 | | | | 8 | | | | 1 | | | | Not applicable | |
Class R-3 | | | 348 | | | | 114 | | | | 21 | | | | Not applicable | |
Class R-4 | | | 117 | | | | 50 | | | | 14 | | | | Not applicable | |
Class R-5E | | | Not applicable | | | | 20 | | | | 4 | | | | Not applicable | |
Class R-5 | | | Not applicable | | | | 16 | | | | 8 | | | | Not applicable | |
Class R-6 | | | Not applicable | | | | 16 | | | | 858 | | | | Not applicable | |
Total class-specific expenses | | | $9,952 | | | | $7,138 | | | | $2,256 | | | | $117 | |
* | Amount less than one thousand. |
Trustees’ deferred compensation — Trustees who are unaffiliated with CRMC may elect to defer the cash payment of part or all of their compensation. These deferred amounts, which remain as liabilities of the fund, are treated as if invested in shares of the fund or other American Funds. These amounts represent general, unsecured liabilities of the fund and vary according to the total returns of the selected funds. Trustees’ compensation of $59,000 in the fund’s statement of operations reflects $30,000 in current fees (either paid in cash or deferred) and a net increase of $29,000 in the value of the deferred amounts.
Affiliated officers and trustees — Officers and certain trustees of the fund are or may be considered to be affiliated with CRMC, AFD and AFS. No affiliated officers or trustees received any compensation directly from the fund.
Investment in CCF — The fund holds shares of CCF, an institutional prime money market fund managed by CRMC. CCF invests in high-quality, short-term money market instruments. CCF is used as the primary investment vehicle for the fund’s short-term instruments. CCF shares are only available for purchase by CRMC, its affiliates, and other funds managed by CRMC or its affiliates, and are not available to the public. CRMC does not receive an investment advisory services fee from CCF.
Security transactions with related funds — The fund purchased securities from, and sold securities to, other funds managed by CRMC (or funds managed by certain affiliates of CRMC) under procedures adopted by the fund’s board of trustees. The funds involved in such transactions are considered related by virtue of having a common investment adviser (or affiliated investment advisers), common trustees and/or common officers. Each transaction was executed at the current market price of the security and no brokerage commissions or fees were paid in accordance with Rule 17a-7 of the 1940 Act. During the six months ended June 30, 2021, the fund engaged in such purchase and sale transactions with related funds in the amounts of $8,071,000 and $226,026,000, respectively, which generated $19,805,000 of net realized gains from such sales.
Interfund lending — Pursuant to an exemptive order issued by the SEC, the fund, along with other CRMC-managed funds (or funds managed by certain affiliates of CRMC), may participate in an interfund lending program. The program provides an alternate credit facility that permits the funds to lend or borrow cash for temporary purposes directly to or from one another, subject to the conditions of the exemptive order. The fund did not lend or borrow cash through the interfund lending program at any time during the six months ended June 30, 2021.
8. Indemnifications
The fund’s organizational documents provide board members and officers with indemnification against certain liabilities or expenses in connection with the performance of their duties to the fund. In the normal course of business, the fund may also enter into contracts that
54 | Capital World Bond Fund |
8. Indemnifications
The fund’s organizational documents provide board members and officers with indemnification against certain liabilities or expenses in connection with the performance of their duties to the fund. In the normal course of business, the fund may also enter into contracts that provide general indemnifications. The fund’s maximum exposure under these arrangements is unknown since it is dependent on future claims that may be made against the fund. The risk of material loss from such claims is considered remote. Insurance policies are also available to the fund’s board members and officers.
9. Capital share transactions
Capital share transactions in the fund were as follows (dollars and shares in thousands):
| | Sales1 | | | Reinvestments of distributions | | | Repurchases1 | | | Net increase (decrease) | |
Share class | | Amount | | | Shares | | | Amount | | | Shares | | | Amount | | | Shares | | | Amount | | | Shares | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six months ended June 30, 2021 | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Class A | | $ | 409,827 | | | | 19,537 | | | $ | 78,841 | | | | 3,832 | | | $ | (389,285 | ) | | | (18,602 | ) | | $ | 99,383 | | | | 4,767 | |
Class C | | | 8,092 | | | | 394 | | | | 1,033 | | | | 51 | | | | (21,627 | ) | | | (1,051 | ) | | | (12,502 | ) | | | (606 | ) |
Class T | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Class F-1 | | | 6,395 | | | | 305 | | | | 2,199 | | | | 107 | | | | (26,198 | ) | | | (1,250 | ) | | | (17,604 | ) | | | (838 | ) |
Class F-2 | | | 254,465 | | | | 12,158 | | | | 18,887 | | | | 920 | | | | (133,418 | ) | | | (6,388 | ) | | | 139,934 | | | | 6,690 | |
Class F-3 | | | 234,039 | | | | 11,184 | | | | 19,067 | | | | 927 | | | | (117,947 | ) | | | (5,627 | ) | | | 135,159 | | | | 6,484 | |
Class 529-A | | | 21,348 | | | | 1,015 | | | | 4,310 | | | | 209 | | | | (26,962 | ) | | | (1,279 | ) | | | (1,304 | ) | | | (55 | ) |
Class 529-C | | | 1,664 | | | | 80 | | | | 156 | | | | 7 | | | | (3,809 | ) | | | (183 | ) | | | (1,989 | ) | | | (96 | ) |
Class 529-E | | | 578 | | | | 28 | | | | 169 | | | | 8 | | | | (1,075 | ) | | | (51 | ) | | | (328 | ) | | | (15 | ) |
Class 529-T | | | — | | | | — | | | | — | 2 | | | — | 2 | | | — | | | | — | | | | — | 2 | | | — | 2 |
Class 529-F-1 | | | — | | | | — | | | | — | 2 | | | — | 2 | | | — | | | | — | | | | — | 2 | | | — | 2 |
Class 529-F-2 | | | 4,839 | | | | 230 | | | | 648 | | | | 31 | | | | (3,368 | ) | | | (160 | ) | | | 2,119 | | | | 101 | |
Class 529-F-3 | | | — | | | | — | | | | — | 2 | | | — | 2 | | | — | | | | — | | | | — | 2 | | | — | 2 |
Class R-1 | | | 1,247 | | | | 60 | | | | 71 | | | | 3 | | | | (1,575 | ) | | | (76 | ) | | | (257 | ) | | | (13 | ) |
Class R-2 | | | 10,333 | | | | 499 | | | | 1,049 | | | | 51 | | | | (14,246 | ) | | | (686 | ) | | | (2,864 | ) | | | (136 | ) |
Class R-2E | | | 1,057 | | | | 50 | | | | 83 | | | | 4 | | | | (1,783 | ) | | | (85 | ) | | | (643 | ) | | | (31 | ) |
Class R-3 | | | 18,546 | | | | 884 | | | | 1,739 | | | | 85 | | | | (23,581 | ) | | | (1,126 | ) | | | (3,296 | ) | | | (157 | ) |
Class R-4 | | | 15,607 | | | | 745 | | | | 1,320 | | | | 64 | | | | (14,676 | ) | | | (699 | ) | | | 2,251 | | | | 110 | |
Class R-5E | | | 3,816 | | | | 182 | | | | 378 | | | | 19 | | | | (2,946 | ) | | | (141 | ) | | | 1,248 | | | | 60 | |
Class R-5 | | | 8,484 | | | | 403 | | | | 865 | | | | 42 | | | | (6,776 | ) | | | (322 | ) | | | 2,573 | | | | 123 | |
Class R-6 | | | 1,134,442 | | | | 54,116 | | | | 94,984 | | | | 4,616 | | | | (123,488 | ) | | | (5,894 | ) | | | 1,105,938 | | | | 52,838 | |
Total net increase (decrease) | | $ | 2,134,779 | | | | 101,870 | | | $ | 225,799 | | | | 10,976 | | | $ | (912,760 | ) | | | (43,620 | ) | | $ | 1,447,818 | | | | 69,226 | |
See next page for footnotes.
Capital World Bond Fund | 55 |
| | Sales1 | | | Reinvestments of distributions | | | Repurchases1 | | | Net (decrease) increase | |
Share class | | Amount | | | Shares | | | Amount | | | Shares | | | Amount | | | Shares | | | Amount | | | Shares | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Year ended December 31, 2020 | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Class A | | $ | 632,918 | | | | 30,480 | | | $ | 185,433 | | | | 8,906 | | | $ | (834,621 | ) | | | (40,752 | ) | | $ | (16,270 | ) | | | (1,366 | ) |
Class C | | | 17,051 | | | | 839 | | | | 3,247 | | | | 159 | | | | (88,428 | ) | | | (4,372 | ) | | | (68,130 | ) | | | (3,374 | ) |
Class T | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Class F-1 | | | 27,498 | | | | 1,347 | | | | 6,004 | | | | 290 | | | | (66,656 | ) | | | (3,285 | ) | | | (33,154 | ) | | | (1,648 | ) |
Class F-2 | | | 464,254 | | | | 22,545 | | | | 38,975 | | | | 1,876 | | | | (318,269 | ) | | | (15,584 | ) | | | 184,960 | | | | 8,837 | |
Class F-3 | | | 518,597 | | | | 25,074 | | | | 45,433 | | | | 2,225 | | | | (1,693,786 | ) | | | (84,120 | ) | | | (1,129,756 | ) | | | (56,821 | ) |
Class 529-A | | | 69,301 | | | | 3,335 | | | | 10,192 | | | | 487 | | | | (63,006 | ) | | | (3,034 | ) | | | 16,487 | | | | 788 | |
Class 529-C | | | 5,331 | | | | 262 | | | | 644 | | | | 32 | | | | (44,848 | ) | | | (2,197 | ) | | | (38,873 | ) | | | (1,903 | ) |
Class 529-E | | | 1,787 | | | | 86 | | | | 425 | | | | 20 | | | | (3,205 | ) | | | (156 | ) | | | (993 | ) | | | (50 | ) |
Class 529-T | | | — | | | | — | | | | — | 2 | | | — | 2 | | | — | | | | — | | | | — | 2 | | | — | 2 |
Class 529-F-1 | | | 7,093 | | | | 346 | | | | 671 | | | | 34 | | | | (49,181 | ) | | | (2,359 | ) | | | (41,417 | ) | | | (1,979 | ) |
Class 529-F-23 | | | 43,251 | | | | 2,057 | | | | 758 | | | | 35 | | | | (1,845 | ) | | | (85 | ) | | | 42,164 | | | | 2,007 | |
Class 529-F-33 | | | 10 | | | | — | 2 | | | — | 2 | | | — | 2 | | | — | | | | — | | | | 10 | | | | — | 2 |
Class R-1 | | | 1,855 | | | | 90 | | | | 192 | | | | 10 | | | | (2,155 | ) | | | (106 | ) | | | (108 | ) | | | (6 | ) |
Class R-2 | | | 22,854 | | | | 1,122 | | | | 2,762 | | | | 133 | | | | (33,878 | ) | | | (1,677 | ) | | | (8,262 | ) | | | (422 | ) |
Class R-2E | | | 2,823 | | | | 138 | | | | 215 | | | | 10 | | | | (2,945 | ) | | | (144 | ) | | | 93 | | | | 4 | |
Class R-3 | | | 42,801 | | | | 2,067 | | | | 4,260 | | | | 205 | | | | (47,259 | ) | | | (2,304 | ) | | | (198 | ) | | | (32 | ) |
Class R-4 | | | 32,470 | | | | 1,575 | | | | 3,091 | | | | 149 | | | | (33,297 | ) | | | (1,629 | ) | | | 2,264 | | | | 95 | |
Class R-5E | | | 19,576 | | | | 939 | | | | 628 | | | | 30 | | | | (4,172 | ) | | | (202 | ) | | | 16,032 | | | | 767 | |
Class R-5 | | | 11,163 | | | | 542 | | | | 1,945 | | | | 94 | | | | (12,605 | ) | | | (616 | ) | | | 503 | | | | 20 | |
Class R-6 | | | 1,224,018 | | | | 58,657 | | | | 177,684 | | | | 8,541 | | | | (649,801 | ) | | | (32,387 | ) | | | 751,901 | | | | 34,811 | |
Total net increase (decrease) | | $ | 3,144,651 | | | | 151,501 | | | $ | 482,559 | | | | 23,236 | | | $ | (3,949,957 | ) | | | (195,009 | ) | | $ | (322,747 | ) | | | (20,272 | ) |
1 | Includes exchanges between share classes of the fund. |
2 | Amount less than one thousand. |
3 | Class 529-F-2 and 529-F-3 shares began investment operations on October 30, 2020. |
10. Investment transactions
The fund made purchases and sales of investment securities, excluding short-term securities and U.S. government obligations, if any, of $6,228,312,000 and $5,542,744,000, respectively, during the six months ended June 30, 2021.
11. Ownership concentration
At June 30, 2021, two shareholders held more than 10% of the fund’s outstanding shares. The two shareholders were American Funds 2030 Target Date Retirement Fund and American Funds 2025 Target Date Retirement Fund, with aggregate ownership of the fund’s outstanding shares of 12% and 10%, respectively. CRMC is the investment adviser to the two target date retirement funds.
56 | Capital World Bond Fund |
Financial Highlights
| | | | | (Loss) income from investment operations1 | | | Dividends, distributions and return of capital | | | | | | | | | | | | | | | | | | | |
Period ended | | Net asset value, beginning of period | | | Net investment income | | | Net (losses) gains on securities (both realized and unrealized) | | | Total from investment operations | | | Dividends (from net investment income) | | | Distributions (from capital gains) | | | Return of capital | | | Total dividends, distributions and return of capital | | | Net asset value, end of period | | | Total return2,3 | | | Net assets, end of period (in millions) | | | Ratio of expenses to average net assets before reimburse- ments4 | | | Ratio of expenses to average net assets after reimburse- ments3,4 | | | Ratio of net income to average net assets3 | |
Class A: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
06/30/20215,6 | | $ | 21.55 | | | $ | .15 | | | $ | (.88 | ) | | $ | (.73 | ) | | $ | (.16 | ) | | $ | (.12 | ) | | $ | — | | | $ | (.28 | ) | | $ | 20.54 | | | | (3.37 | )%7 | | $ | 5,818 | | | | .93 | %8 | | | .93 | %8 | | | 1.43 | %8 |
12/31/2020 | | | 20.26 | | | | .34 | | | | 1.64 | | | | 1.98 | | | | (.40 | ) | | | (.29 | ) | | | — | | | | (.69 | ) | | | 21.55 | | | | 9.90 | | | | 5,999 | | | | .93 | | | | .93 | | | | 1.62 | |
12/31/2019 | | | 19.25 | | | | .44 | | | | 1.03 | | | | 1.47 | | | | (.39 | ) | | | (.07 | ) | | | — | | | | (.46 | ) | | | 20.26 | | | | 7.66 | | | | 5,669 | | | | .94 | | | | .94 | | | | 2.22 | |
12/31/2018 | | | 19.97 | | | | .44 | | | | (.74 | ) | | | (.30 | ) | | | (.42 | ) | | | — | | | | — | | | | (.42 | ) | | | 19.25 | | | | (1.53 | ) | | | 5,499 | | | | .94 | | | | .94 | | | | 2.25 | |
12/31/2017 | | | 18.96 | | | | .42 | | | | .95 | | | | 1.37 | | | | (.14 | ) | | | — | | | | (.22 | ) | | | (.36 | ) | | | 19.97 | | | | 7.26 | | | | 5,867 | | | | .96 | | | | .96 | | | | 2.13 | |
12/31/20165,9 | | | 20.51 | | | | .10 | | | | (1.42 | ) | | | (1.32 | ) | | | (.12 | ) | | | (.07 | ) | | | (.04 | ) | | | (.23 | ) | | | 18.96 | | | | (6.51 | )7 | | | 5,824 | | | | .24 | 7 | | | .24 | 7 | | | .52 | 7 |
09/30/2016 | | | 19.21 | | | | .38 | | | | 1.15 | | | | 1.53 | | | | (.23 | ) | | | — | | | | — | | | | (.23 | ) | | | 20.51 | | | | 8.08 | | | | 6,494 | | | | .94 | | | | .94 | | | | 1.94 | |
Class C: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
06/30/20215,6 | | | 21.17 | | | | .07 | | | | (.86 | ) | | | (.79 | ) | | | (.08 | ) | | | (.12 | ) | | | — | | | | (.20 | ) | | | 20.18 | | | | (3.69 | )7 | | | 100 | | | | 1.65 | 8 | | | 1.65 | 8 | | | .71 | 8 |
12/31/2020 | | | 19.91 | | | | .18 | | | | 1.61 | | | | 1.79 | | | | (.24 | ) | | | (.29 | ) | | | — | | | | (.53 | ) | | | 21.17 | | | | 9.09 | | | | 118 | | | | 1.67 | | | | 1.67 | | | | .90 | |
12/31/2019 | | | 18.92 | | | | .29 | | | | 1.01 | | | | 1.30 | | | | (.24 | ) | | | (.07 | ) | | | — | | | | (.31 | ) | | | 19.91 | | | | 6.87 | | | | 178 | | | | 1.69 | | | | 1.69 | | | | 1.47 | |
12/31/2018 | | | 19.63 | | | | .28 | | | | (.73 | ) | | | (.45 | ) | | | (.26 | ) | | | — | | | | — | | | | (.26 | ) | | | 18.92 | | | | (2.30 | ) | | | 210 | | | | 1.72 | | | | 1.72 | | | | 1.46 | |
12/31/2017 | | | 18.64 | | | | .26 | | | | .93 | | | | 1.19 | | | | (.08 | ) | | | — | | | | (.12 | ) | | | (.20 | ) | | | 19.63 | | | | 6.41 | | | | 280 | | | | 1.75 | | | | 1.75 | | | | 1.34 | |
12/31/20165,9 | | | 20.13 | | | | .06 | | | | (1.40 | ) | | | (1.34 | ) | | | (.06 | ) | | | (.07 | ) | | | (.02 | ) | | | (.15 | ) | | | 18.64 | | | | (6.72 | )7 | | | 337 | | | | .44 | 7 | | | .44 | 7 | | | .32 | 7 |
09/30/2016 | | | 18.88 | | | | .22 | | | | 1.12 | | | | 1.34 | | | | (.09 | ) | | | — | | | | — | | | | (.09 | ) | | | 20.13 | | | | 7.19 | | | | 390 | | | | 1.74 | | | | 1.74 | | | | 1.14 | |
Class T: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
06/30/20215,6 | | | 21.54 | | | | .17 | | | | (.87 | ) | | | (.70 | ) | | | (.19 | ) | | | (.12 | ) | | | — | | | | (.31 | ) | | | 20.53 | | | | (3.25 | )7,10 | | | — | 11 | | | .68 | 8,10 | | | .68 | 8,10 | | | 1.67 | 8,10 |
12/31/2020 | | | 20.26 | | | | .38 | | | | 1.64 | | | | 2.02 | | | | (.45 | ) | | | (.29 | ) | | | — | | | | (.74 | ) | | | 21.54 | | | | 10.13 | 10 | | | — | 11 | | | .68 | 10 | | | .68 | 10 | | | 1.83 | 10 |
12/31/2019 | | | 19.25 | | | | .49 | | | | 1.03 | | | | 1.52 | | | | (.44 | ) | | | (.07 | ) | | | — | | | | (.51 | ) | | | 20.26 | | | | 7.93 | 10 | | | — | 11 | | | .69 | 10 | | | .69 | 10 | | | 2.44 | 10 |
12/31/2018 | | | 19.97 | | | | .49 | | | | (.75 | ) | | | (.26 | ) | | | (.46 | ) | | | — | | | | — | | | | (.46 | ) | | | 19.25 | | | | (1.32 | )10 | | | — | 11 | | | .72 | 10 | | | .72 | 10 | | | 2.48 | 10 |
12/31/20175,12 | | | 19.32 | | | | .35 | | | | .60 | | | | .95 | | | | (.12 | ) | | | — | | | | (.18 | ) | | | (.30 | ) | | | 19.97 | | | | 4.95 | 7,10 | | | — | 11 | | | .73 | 8,10 | | | .73 | 8,10 | | | 2.37 | 8,10 |
Class F-1: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
06/30/20215,6 | | | 21.50 | | | | .15 | | | | (.88 | ) | | | (.73 | ) | | | (.16 | ) | | | (.12 | ) | | | — | | | | (.28 | ) | | | 20.49 | | | | (3.39 | )7 | | | 161 | | | | .94 | 8 | | | .94 | 8 | | | 1.42 | 8 |
12/31/2020 | | | 20.21 | | | | .33 | | | | 1.65 | | | | 1.98 | | | | (.40 | ) | | | (.29 | ) | | | — | | | | (.69 | ) | | | 21.50 | | | | 9.93 | | | | 187 | | | | .93 | | | | .93 | | | | 1.62 | |
12/31/2019 | | | 19.20 | | | | .45 | | | | 1.02 | | | | 1.47 | | | | (.39 | ) | | | (.07 | ) | | | — | | | | (.46 | ) | | | 20.21 | | | | 7.68 | | | | 209 | | | | .93 | | | | .93 | | | | 2.24 | |
12/31/2018 | | | 19.92 | | | | .44 | | | | (.74 | ) | | | (.30 | ) | | | (.42 | ) | | | — | | | | — | | | | (.42 | ) | | | 19.20 | | | | (1.53 | ) | | | 238 | | | | .93 | | | | .93 | | | | 2.25 | |
12/31/2017 | | | 18.92 | | | | .43 | | | | .94 | | | | 1.37 | | | | (.15 | ) | | | — | | | | (.22 | ) | | | (.37 | ) | | | 19.92 | | | | 7.28 | | | | 285 | | | | .91 | | | | .91 | | | | 2.18 | |
12/31/20165,9 | | | 20.46 | | | | .10 | | | | (1.41 | ) | | | (1.31 | ) | | | (.12 | ) | | | (.07 | ) | | | (.04 | ) | | | (.23 | ) | | | 18.92 | | | | (6.47 | )7 | | | 322 | | | | .22 | 7 | | | .22 | 7 | | | .53 | 7 |
09/30/2016 | | | 19.09 | | | | .38 | | | | 1.13 | | | | 1.51 | | | | (.14 | ) | | | — | | | | — | | | | (.14 | ) | | | 20.46 | | | | 8.01 | | | | 368 | | | | .94 | | | | .94 | | | | 1.98 | |
Class F-2: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
06/30/20215,6 | | | 21.51 | | | | .18 | | | | (.86 | ) | | | (.68 | ) | | | (.20 | ) | | | (.12 | ) | | | — | | | | (.32 | ) | | | 20.51 | | | | (3.16 | )7 | | | 1,264 | | | | .59 | 8 | | | .59 | 8 | | | 1.77 | 8 |
12/31/2020 | | | 20.23 | | | | .40 | | | | 1.64 | | | | 2.04 | | | | (.47 | ) | | | (.29 | ) | | | — | | | | (.76 | ) | | | 21.51 | | | | 10.25 | | | | 1,182 | | | | .60 | | | | .60 | | | | 1.95 | |
12/31/2019 | | | 19.22 | | | | .51 | | | | 1.02 | | | | 1.53 | | | | (.45 | ) | | | (.07 | ) | | | — | | | | (.52 | ) | | | 20.23 | | | | 8.00 | | | | 932 | | | | .63 | | | | .63 | | | | 2.57 | |
12/31/2018 | | | 19.94 | | | | .51 | | | | (.75 | ) | | | (.24 | ) | | | (.48 | ) | | | — | | | | — | | | | (.48 | ) | | | 19.22 | | | | (1.19 | ) | | | 1,217 | | | | .60 | | | | .60 | | | | 2.59 | |
12/31/2017 | | | 18.93 | | | | .47 | | | | .95 | | | | 1.42 | | | | (.16 | ) | | | — | | | | (.25 | ) | | | (.41 | ) | | | 19.94 | | | | 7.54 | | | | 1,027 | | | | .67 | | | | .67 | | | | 2.41 | |
12/31/20165,9 | | | 20.49 | | | | .12 | | | | (1.42 | ) | | | (1.30 | ) | | | (.14 | ) | | | (.07 | ) | | | (.05 | ) | | | (.26 | ) | | | 18.93 | | | | (6.42 | )7 | | | 1,933 | | | | .16 | 7 | | | .16 | 7 | | | .60 | 7 |
09/30/2016 | | | 19.20 | | | | .44 | | | | 1.14 | | | | 1.58 | | | | (.29 | ) | | | — | | | | — | | | | (.29 | ) | | | 20.49 | | | | 8.37 | | | | 1,876 | | | | .65 | | | | .65 | | | | 2.21 | |
Class F-3: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
06/30/20215,6 | | | 21.53 | | | | .20 | | | | (.87 | ) | | | (.67 | ) | | | (.21 | ) | | | (.12 | ) | | | — | | | | (.33 | ) | | | 20.53 | | | | (3.11 | )7 | | | 1,244 | | | | .48 | 8 | | | .48 | 8 | | | 1.88 | 8 |
12/31/2020 | | | 20.24 | | | | .42 | | | | 1.65 | | | | 2.07 | | | | (.49 | ) | | | (.29 | ) | | | — | | | | (.78 | ) | | | 21.53 | | | | 10.39 | | | | 1,166 | | | | .50 | | | | .50 | | | | 2.07 | |
12/31/2019 | | | 19.23 | | | | .53 | | | | 1.03 | | | | 1.56 | | | | (.48 | ) | | | (.07 | ) | | | — | | | | (.55 | ) | | | 20.24 | | | | 8.12 | | | | 2,246 | | | | .52 | | | | .52 | | | | 2.64 | |
12/31/2018 | | | 19.95 | | | | .52 | | | | (.75 | ) | | | (.23 | ) | | | (.49 | ) | | | — | | | | — | | | | (.49 | ) | | | 19.23 | | | | (1.13 | ) | | | 2,037 | | | | .54 | | | | .54 | | | | 2.65 | |
12/31/20175,13 | | | 19.08 | | | | .48 | | | | .83 | | | | 1.31 | | | | (.17 | ) | | | — | | | | (.27 | ) | | | (.44 | ) | | | 19.95 | | | | 6.94 | 7 | | | 1,770 | | | | .55 | 8 | | | .55 | 8 | | | 2.58 | 8 |
Class 529-A: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
06/30/20215,6 | | | 21.61 | | | | .15 | | | | (.87 | ) | | | (.72 | ) | | | (.16 | ) | | | (.12 | ) | | | — | | | | (.28 | ) | | | 20.61 | | | | (3.33 | )7 | | | 319 | | | | .95 | 8 | | | .95 | 8 | | | 1.41 | 8 |
12/31/2020 | | | 20.32 | | | | .33 | | | | 1.64 | | | | 1.97 | | | | (.39 | ) | | | (.29 | ) | | | — | | | | (.68 | ) | | | 21.61 | | | | 9.84 | | | | 335 | | | | .96 | | | | .96 | | | | 1.59 | |
12/31/2019 | | | 19.30 | | | | .44 | | | | 1.03 | | | | 1.47 | | | | (.38 | ) | | | (.07 | ) | | | — | | | | (.45 | ) | | | 20.32 | | | | 7.64 | | | | 299 | | | | .99 | | | | .99 | | | | 2.17 | |
12/31/2018 | | | 20.02 | | | | .43 | | | | (.75 | ) | | | (.32 | ) | | | (.40 | ) | | | — | | | | — | | | | (.40 | ) | | | 19.30 | | | | (1.59 | ) | | | 292 | | | | 1.01 | | | | 1.01 | | | | 2.18 | |
12/31/2017 | | | 19.01 | | | | .41 | | | | .95 | | | | 1.36 | | | | (.14 | ) | | | — | | | | (.21 | ) | | | (.35 | ) | | | 20.02 | | | | 7.18 | | | | 312 | | | | 1.02 | | | | 1.02 | | | | 2.07 | |
12/31/20165,9 | | | 20.57 | | | | .10 | | | | (1.44 | ) | | | (1.34 | ) | | | (.11 | ) | | | (.07 | ) | | | (.04 | ) | | | (.22 | ) | | | 19.01 | | | | (6.53 | )7 | | | 289 | | | | .26 | 7 | | | .26 | 7 | | | .50 | 7 |
09/30/2016 | | | 19.26 | | | | .37 | | | | 1.15 | | | | 1.52 | | | | (.21 | ) | | | — | | | | — | | | | (.21 | ) | | | 20.57 | | | | 7.95 | | | | 314 | | | | 1.03 | | | | 1.03 | | | | 1.85 | |
See end of table for footnotes.
Capital World Bond Fund | 57 |
Financial Highlights (continued)
| | | | | (Loss) income from investment operations1 | | | Dividends, distributions and return of capital | | | | | | | | | | | | | | | | | | | |
Period ended | | Net asset value, beginning of period | | | Net investment income | | | Net (losses) gains on securities (both realized and unrealized) | | | Total from investment operations | | | Dividends (from net investment income) | | | Distributions (from capital gains) | | | Return of capital | | | Total dividends, distributions and return of capital | | | Net asset value, end of period | | | Total return2,3 | | | Net assets, end of period (in millions) | | | Ratio of expenses to average net assets before reimburse- ments4 | | | Ratio of expenses to average net assets after reimburse- ments3,4 | | | Ratio of net income to average net assets3 | |
Class 529-C: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
06/30/20215,6 | | $ | 21.36 | | | $ | .07 | | | $ | (.87 | ) | | $ | (.80 | ) | | $ | (.08 | ) | | $ | (.12 | ) | | $ | — | | | $ | (.20 | ) | | $ | 20.36 | | | | (3.72 | )%7 | | $ | 15 | | | | 1.69 | %8 | | | 1.69 | %8 | | | .67 | %8 |
12/31/2020 | | | 20.07 | | | | .17 | | | | 1.63 | | | | 1.80 | | | | (.22 | ) | | | (.29 | ) | | | — | | | | (.51 | ) | | | 21.36 | | | | 9.04 | | | | 18 | | | | 1.71 | | | | 1.71 | | | | .86 | |
12/31/2019 | | | 19.07 | | | | .28 | | | | 1.02 | | | | 1.30 | | | | (.23 | ) | | | (.07 | ) | | | — | | | | (.30 | ) | | | 20.07 | | | | 6.81 | | | | 55 | | | | 1.73 | | | | 1.73 | | | | 1.44 | |
12/31/2018 | | | 19.78 | | | | .28 | | | | (.74 | ) | | | (.46 | ) | | | (.25 | ) | | | — | | | | — | | | | (.25 | ) | | | 19.07 | | | | (2.32 | ) | | | 67 | | | | 1.76 | | | | 1.76 | | | | 1.43 | |
12/31/2017 | | | 18.77 | | | | .25 | | | | .94 | | | | 1.19 | | | | (.07 | ) | | | — | | | | (.11 | ) | | | (.18 | ) | | | 19.78 | | | | 6.38 | | | | 84 | | | | 1.80 | | | | 1.80 | | | | 1.30 | |
12/31/20165,9 | | | 20.27 | | | | .06 | | | | (1.41 | ) | | | (1.35 | ) | | | (.06 | ) | | | (.07 | ) | | | (.02 | ) | | | (.15 | ) | | | 18.77 | | | | (6.74 | )7 | | | 109 | | | | .45 | 7 | | | .45 | 7 | | | .31 | 7 |
09/30/2016 | | | 19.00 | | | | .21 | | | | 1.14 | | | | 1.35 | | | | (.08 | ) | | | — | | | | — | | | | (.08 | ) | | | 20.27 | | | | 7.19 | | | | 122 | | | | 1.80 | | | | 1.80 | | | | 1.08 | |
Class 529-E: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
06/30/20215,6 | | | 21.47 | | | | .13 | | | | (.88 | ) | | | (.75 | ) | | | (.14 | ) | | | (.12 | ) | | | — | | | | (.26 | ) | | | 20.46 | | | | (3.46 | )7 | | | 13 | | | | 1.10 | 8 | | | 1.10 | 8 | | | 1.26 | 8 |
12/31/2020 | | | 20.18 | | | | .30 | | | | 1.65 | | | | 1.95 | | | | (.37 | ) | | | (.29 | ) | | | — | | | | (.66 | ) | | | 21.47 | | | | 9.76 | | | | 14 | | | | 1.10 | | | | 1.10 | | | | 1.45 | |
12/31/2019 | | | 19.18 | | | | .40 | | | | 1.02 | | | | 1.42 | | | | (.35 | ) | | | (.07 | ) | | | — | | | | (.42 | ) | | | 20.18 | | | | 7.42 | | | | 14 | | | | 1.14 | | | | 1.14 | | | | 2.02 | |
12/31/2018 | | | 19.90 | | | | .39 | | | | (.74 | ) | | | (.35 | ) | | | (.37 | ) | | | — | | | | — | | | | (.37 | ) | | | 19.18 | | | | (1.76 | ) | | | 15 | | | | 1.17 | | | | 1.17 | | | | 2.02 | |
12/31/2017 | | | 18.89 | | | | .37 | | | | .95 | | | | 1.32 | | | | (.12 | ) | | | — | | | | (.19 | ) | | | (.31 | ) | | | 19.90 | | | | 7.04 | | | | 15 | | | | 1.19 | | | | 1.19 | | | | 1.90 | |
12/31/20165,9 | | | 20.43 | | | | .09 | | | | (1.42 | ) | | | (1.33 | ) | | | (.10 | ) | | | (.07 | ) | | | (.04 | ) | | | (.21 | ) | | | 18.89 | | | | (6.59 | )7 | | | 15 | | | | .30 | 7 | | | .30 | 7 | | | .46 | 7 |
09/30/2016 | | | 19.14 | | | | .33 | | | | 1.14 | | | | 1.47 | | | | (.18 | ) | | | — | | | | — | | | | (.18 | ) | | | 20.43 | | | | 7.77 | | | | 17 | | | | 1.21 | | | | 1.21 | | | | 1.68 | |
Class 529-T: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
06/30/20215,6 | | | 21.54 | | | | .17 | | | | (.87 | ) | | | (.70 | ) | | | (.18 | ) | | | (.12 | ) | | | — | | | | (.30 | ) | | | 20.54 | | | | (3.22 | )7,10 | | | — | 11 | | | .72 | 8,10 | | | .72 | 8,10 | | | 1.61 | 8,10 |
12/31/2020 | | | 20.26 | | | | .37 | | | | 1.64 | | | | 2.01 | | | | (.44 | ) | | | (.29 | ) | | | — | | | | (.73 | ) | | | 21.54 | | | | 10.07 | 10 | | | — | 11 | | | .73 | 10 | | | .73 | 10 | | | 1.80 | 10 |
12/31/2019 | | | 19.25 | | | | .48 | | | | 1.03 | | | | 1.51 | | | | (.43 | ) | | | (.07 | ) | | | — | | | | (.50 | ) | | | 20.26 | | | | 7.87 | 10 | | | — | 11 | | | .76 | 10 | | | .76 | 10 | | | 2.40 | 10 |
12/31/2018 | | | 19.97 | | | | .48 | | | | (.75 | ) | | | (.27 | ) | | | (.45 | ) | | | — | | | | — | | | | (.45 | ) | | | 19.25 | | | | (1.36 | )10 | | | — | 11 | | | .76 | 10 | | | .76 | 10 | | | 2.43 | 10 |
12/31/20175,12 | | | 19.32 | | | | .34 | | | | .61 | | | | .95 | | | | (.12 | ) | | | — | | | | (.18 | ) | | | (.30 | ) | | | 19.97 | | | | 4.91 | 7,10 | | | — | 11 | | | .78 | 8,10 | | | .78 | 8,10 | | | 2.33 | 8,10 |
Class 529-F-1: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
06/30/20215,6 | | | 21.46 | | | | .17 | | | | (.87 | ) | | | (.70 | ) | | | (.18 | ) | | | (.12 | ) | | | — | | | | (.30 | ) | | | 20.46 | | | | (3.24 | )7,10 | | | — | 11 | | | .74 | 8,10 | | | .74 | 8,10 | | | 1.61 | 8,10 |
12/31/2020 | | | 20.19 | | | | .38 | | | | 1.63 | | | | 2.01 | | | | (.45 | ) | | | (.29 | ) | | | — | | | | (.74 | ) | | | 21.46 | | | | 10.08 | 10 | | | — | 11 | | | .73 | 10 | | | .73 | 10 | | | 1.86 | 10 |
12/31/2019 | | | 19.18 | | | | .48 | | | | 1.03 | | | | 1.51 | | | | (.43 | ) | | | (.07 | ) | | | — | | | | (.50 | ) | | | 20.19 | | | | 7.90 | | | | 40 | | | | .75 | | | | .75 | | | | 2.41 | |
12/31/2018 | | | 19.90 | | | | .47 | | | | (.74 | ) | | | (.27 | ) | | | (.45 | ) | | | — | | | | — | | | | (.45 | ) | | | 19.18 | | | | (1.36 | ) | | | 38 | | | | .77 | | | | .77 | | | | 2.42 | |
12/31/2017 | | | 18.90 | | | | .45 | | | | .94 | | | | 1.39 | | | | (.15 | ) | | | — | | | | (.24 | ) | | | (.39 | ) | | | 19.90 | | | | 7.41 | | | | 38 | | | | .80 | | | | .80 | | | | 2.30 | |
12/31/20165,9 | | | 20.46 | | | | .11 | | | | (1.42 | ) | | | (1.31 | ) | | | (.13 | ) | | | (.07 | ) | | | (.05 | ) | | | (.25 | ) | | | 18.90 | | | | (6.45 | )7 | | | 35 | | | | .20 | 7 | | | .20 | 7 | | | .56 | 7 |
09/30/2016 | | | 19.16 | | | | .41 | | | | 1.15 | | | | 1.56 | | | | (.26 | ) | | | — | | | | — | | | | (.26 | ) | | | 20.46 | | | | 8.18 | | | | 39 | | | | .81 | | | | .81 | | | | 2.08 | |
Class 529-F-2: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
06/30/20215,6 | | | 21.55 | | | | .18 | | | | (.88 | ) | | | (.70 | ) | | | (.19 | ) | | | (.12 | ) | | | — | | | | (.31 | ) | | | 20.54 | | | | (3.23 | )7 | | | 43 | | | | .65 | 8 | | | .65 | 8 | | | 1.71 | 8 |
12/31/20205,14 | | | 21.00 | | | | .06 | | | | .87 | | | | .93 | | | | (.11 | ) | | | (.27 | ) | | | — | | | | (.38 | ) | | | 21.55 | | | | 4.47 | 7 | | | 43 | | | | .11 | 7 | | | .11 | 7 | | | .28 | 7 |
Class 529-F-3: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
06/30/20215,6 | | | 21.54 | | | | .19 | | | | (.87 | ) | | | (.68 | ) | | | (.20 | ) | | | (.12 | ) | | | — | | | | (.32 | ) | | | 20.54 | | | | (3.14 | )7 | | | — | 11 | | | .59 | 8 | | | .55 | 8 | | | 1.80 | 8 |
12/31/20205,14 | | | 21.00 | | | | .06 | | | | .87 | | | | .93 | | | | (.12 | ) | | | (.27 | ) | | | — | | | | (.39 | ) | | | 21.54 | | | | 4.46 | 7 | | | — | 11 | | | .13 | 7 | | | .09 | 7 | | | .30 | 7 |
Class R-1: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
06/30/20215,6 | | | 21.32 | | | | .08 | | | | (.86 | ) | | | (.78 | ) | | | (.09 | ) | | | (.12 | ) | | | — | | | | (.21 | ) | | | 20.33 | | | | (3.65 | )7 | | | 7 | | | | 1.60 | 8 | | | 1.60 | 8 | | | .75 | 8 |
12/31/2020 | | | 20.05 | | | | .19 | | | | 1.63 | | | | 1.82 | | | | (.26 | ) | | | (.29 | ) | | | — | | | | (.55 | ) | | | 21.32 | | | | 9.14 | | | | 8 | | | | 1.65 | | | | 1.65 | | | | .91 | |
12/31/2019 | | | 19.05 | | | | .30 | | | | 1.02 | | | | 1.32 | | | | (.25 | ) | | | (.07 | ) | | | — | | | | (.32 | ) | | | 20.05 | | | | 6.92 | | | | 7 | | | | 1.65 | | | | 1.65 | | | | 1.50 | |
12/31/2018 | | | 19.77 | | | | .29 | | | | (.74 | ) | | | (.45 | ) | | | (.27 | ) | | | — | | | | — | | | | (.27 | ) | | | 19.05 | | | | (2.26 | ) | | | 8 | | | | 1.67 | | | | 1.67 | | | | 1.52 | |
12/31/2017 | | | 18.77 | | | | .27 | | | | .94 | | | | 1.21 | | | | (.08 | ) | | | — | | | | (.13 | ) | | | (.21 | ) | | | 19.77 | | | | 6.49 | | | | 9 | | | | 1.68 | | | | 1.68 | | | | 1.41 | |
12/31/20165,9 | | | 20.27 | | | | .07 | | | | (1.41 | ) | | | (1.34 | ) | | | (.07 | ) | | | (.07 | ) | | | (.02 | ) | | | (.16 | ) | | | 18.77 | | | | (6.69 | )7 | | | 11 | | | | .42 | 7 | | | .42 | 7 | | | .34 | 7 |
09/30/2016 | | | 19.01 | | | | .23 | | | | 1.13 | | | | 1.36 | | | | (.10 | ) | | | — | | | | — | | | | (.10 | ) | | | 20.27 | | | | 7.24 | | | | 12 | | | | 1.68 | | | | 1.68 | | | | 1.20 | |
See end of table for footnotes.
58 | Capital World Bond Fund |
Financial Highlights (continued)
| | | | | (Loss) income from investment operations1 | | | Dividends, distributions and return of capital | | | | | | | | | | | | | | | | | | | |
Period ended | | Net asset value, beginning of period | | | Net investment income | | | Net (losses) gains on securities (both realized and unrealized) | | | Total from investment operations | | | Dividends (from net investment income) | | | Distributions (from capital gains) | | | Return of capital | | | Total dividends, distributions and return of capital | | | Net asset value, end of period | | | Total return2,3 | | | Net assets, end of period (in millions) | | | Ratio of expenses to average net assets before reimburse- ments4 | | | Ratio of expenses to average net assets after reimburse- ments3,4 | | | Ratio of net income to average net assets3 | |
Class R-2: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
06/30/20215,6 | | $ | 21.30 | | | $ | .08 | | | $ | (.87 | ) | | $ | (.79 | ) | | $ | (.09 | ) | | $ | (.12 | ) | | $ | — | | | $ | (.21 | ) | | $ | 20.30 | | | | (3.69 | )%7 | | $ | 99 | | | | 1.60 | %8 | | | 1.60 | %8 | | | .76 | %8 |
12/31/2020 | | | 20.03 | | | | .20 | | | | 1.63 | | | | 1.83 | | | | (.27 | ) | | | (.29 | ) | | | — | | | | (.56 | ) | | | 21.30 | | | | 9.20 | | | | 107 | | | | 1.59 | | | | 1.59 | | | | .96 | |
12/31/2019 | | | 19.04 | | | | .30 | | | | 1.02 | | | | 1.32 | | | | (.26 | ) | | | (.07 | ) | | | — | | | | (.33 | ) | | | 20.03 | | | | 6.93 | | | | 109 | | | | 1.62 | | | | 1.62 | | | | 1.54 | |
12/31/2018 | | | 19.75 | | | | .30 | | | | (.73 | ) | | | (.43 | ) | | | (.28 | ) | | | — | | | | — | | | | (.28 | ) | | | 19.04 | | | | (2.18 | ) | | | 113 | | | | 1.64 | | | | 1.64 | | | | 1.55 | |
12/31/2017 | | | 18.76 | | | | .28 | | | | .94 | | | | 1.22 | | | | (.09 | ) | | | — | | | | (.14 | ) | | | (.23 | ) | | | 19.75 | | | | 6.50 | | �� | | 126 | | | | 1.65 | | | | 1.65 | | | | 1.44 | |
12/31/20165,9 | | | 20.27 | | | | .07 | | | | (1.42 | ) | | | (1.35 | ) | | | (.06 | ) | | | (.07 | ) | | | (.03 | ) | | | (.16 | ) | | | 18.76 | | | | (6.71 | )7 | | | 133 | | | | .42 | 7 | | | .42 | 7 | | | .34 | 7 |
09/30/2016 | | | 19.00 | | | | .23 | | | | 1.14 | | | | 1.37 | | | | (.10 | ) | | | — | | | | — | | | | (.10 | ) | | | 20.27 | | | | 7.26 | | | | 148 | | | | 1.70 | | | | 1.70 | | | | 1.18 | |
Class R-2E: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
06/30/20215,6 | | | 21.49 | | | | .11 | | | | (.87 | ) | | | (.76 | ) | | | (.12 | ) | | | (.12 | ) | | | — | | | | (.24 | ) | | | 20.49 | | | | (3.51 | )7 | | | 7 | | | | 1.30 | 8 | | | 1.30 | 8 | | | 1.07 | 8 |
12/31/2020 | | | 20.21 | | | | .26 | | | | 1.63 | | | | 1.89 | | | | (.32 | ) | | | (.29 | ) | | | — | | | | (.61 | ) | | | 21.49 | | | | 9.47 | | | | 8 | | | | 1.32 | | | | 1.32 | | | | 1.24 | |
12/31/2019 | | | 19.20 | | | | .36 | | | | 1.04 | | | | 1.40 | | | | (.32 | ) | | | (.07 | ) | | | — | | | | (.39 | ) | | | 20.21 | | | | 7.30 | | | | 7 | | | | 1.33 | | | | 1.33 | | | | 1.82 | |
12/31/2018 | | | 19.93 | | | | .36 | | | | (.76 | ) | | | (.40 | ) | | | (.33 | ) | | | — | | | | — | | | | (.33 | ) | | | 19.20 | | | | (1.99 | ) | | | 5 | | | | 1.36 | | | | 1.36 | | | | 1.84 | |
12/31/2017 | | | 18.93 | | | | .34 | | | | .95 | | | | 1.29 | | | | (.12 | ) | | | — | | | | (.17 | ) | | | (.29 | ) | | | 19.93 | | | | 6.81 | | | | 4 | | | | 1.37 | | | | 1.37 | | | | 1.74 | |
12/31/20165,9 | | | 20.47 | | | | .08 | | | | (1.42 | ) | | | (1.34 | ) | | | (.09 | ) | | | (.07 | ) | | | (.04 | ) | | | (.20 | ) | | | 18.93 | | | | (6.57 | )7 | | | 2 | | | | .34 | 7 | | | .34 | 7 | | | .42 | 7 |
09/30/2016 | | | 19.20 | | | | .30 | | | | 1.18 | | | | 1.48 | | | | (.21 | ) | | | — | | | | — | | | | (.21 | ) | | | 20.47 | | | | 7.75 | | | | 1 | | | | 1.33 | | | | 1.33 | | | | 1.53 | |
Class R-3: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
06/30/20215,6 | | | 21.51 | | | | .13 | | | | (.87 | ) | | | (.74 | ) | | | (.14 | ) | | | (.12 | ) | | | — | | | | (.26 | ) | | | 20.51 | | | | (3.43 | )7 | | | 136 | | | | 1.14 | 8 | | | 1.14 | 8 | | | 1.22 | 8 |
12/31/2020 | | | 20.23 | | | | .29 | | | | 1.64 | | | | 1.93 | | | | (.36 | ) | | | (.29 | ) | | | — | | | | (.65 | ) | | | 21.51 | | | | 9.64 | | | | 146 | | | | 1.15 | | | | 1.15 | | | | 1.41 | |
12/31/2019 | | | 19.22 | | | | .40 | | | | 1.03 | | | | 1.43 | | | | (.35 | ) | | | (.07 | ) | | | — | | | | (.42 | ) | | | 20.23 | | | | 7.44 | | | | 138 | | | | 1.17 | | | | 1.17 | | | | 1.99 | |
12/31/2018 | | | 19.94 | | | | .39 | | | | (.74 | ) | | | (.35 | ) | | | (.37 | ) | | | — | | | | — | | | | (.37 | ) | | | 19.22 | | | | (1.78 | ) | | | 132 | | | | 1.19 | | | | 1.19 | | | | 2.00 | |
12/31/2017 | | | 18.93 | | | | .37 | | | | .95 | | | | 1.32 | | | | (.12 | ) | | | — | | | | (.19 | ) | | | (.31 | ) | | | 19.94 | | | | 7.01 | | | | 141 | | | | 1.20 | | | | 1.20 | | | | 1.89 | |
12/31/20165,9 | | | 20.47 | | | | .09 | | | | (1.42 | ) | | | (1.33 | ) | | | (.10 | ) | | | (.07 | ) | | | (.04 | ) | | | (.21 | ) | | | 18.93 | | | | (6.58 | )7 | | | 140 | | | | .29 | 7 | | | .29 | 7 | | | .47 | 7 |
09/30/2016 | | | 19.17 | | | | .32 | | | | 1.15 | | | | 1.47 | | | | (.17 | ) | | | — | | | | — | | | | (.17 | ) | | | 20.47 | | | | 7.78 | | | | 151 | | | | 1.23 | | | | 1.23 | | | | 1.65 | |
Class R-4: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
06/30/20215,6 | | | 21.53 | | | | .16 | | | | (.87 | ) | | | (.71 | ) | | | (.17 | ) | | | (.12 | ) | | | — | | | | (.29 | ) | | | 20.53 | | | | (3.28 | )7 | | | 94 | | | | .84 | 8 | | | .84 | 8 | | | 1.53 | 8 |
12/31/2020 | | | 20.25 | | | | .35 | | | | 1.64 | | | | 1.99 | | | | (.42 | ) | | | (.29 | ) | | | — | | | | (.71 | ) | | | 21.53 | | | | 9.97 | | | | 96 | | | | .84 | | | | .84 | | | | 1.71 | |
12/31/2019 | | | 19.23 | | | | .46 | | | | 1.04 | | | | 1.50 | | | | (.41 | ) | | | (.07 | ) | | | — | | | | (.48 | ) | | | 20.25 | | | | 7.81 | | | | 89 | | | | .86 | | | | .86 | | | | 2.30 | |
12/31/2018 | | | 19.95 | | | | .45 | | | | (.74 | ) | | | (.29 | ) | | | (.43 | ) | | | — | | | | — | | | | (.43 | ) | | | 19.23 | | | | (1.48 | ) | | | 91 | | | | .88 | | | | .88 | | | | 2.30 | |
12/31/2017 | | | 18.95 | | | | .43 | | | | .94 | | | | 1.37 | | | | (.15 | ) | | | — | | | | (.22 | ) | | | (.37 | ) | | | 19.95 | | | | 7.28 | | | | 115 | | | | .89 | | | | .89 | | | | 2.20 | |
12/31/20165,9 | | | 20.50 | | | | .11 | | | | (1.42 | ) | | | (1.31 | ) | | | (.12 | ) | | | (.07 | ) | | | (.05 | ) | | | (.24 | ) | | | 18.95 | | | | (6.48 | )7 | | | 107 | | | | .22 | 7 | | | .22 | 7 | | | .54 | 7 |
09/30/2016 | | | 19.21 | | | | .39 | | | | 1.14 | | | | 1.53 | | | | (.24 | ) | | | — | | | | — | | | | (.24 | ) | | | 20.50 | | | | 8.09 | | | | 118 | | | | .90 | | | | .90 | | | | 1.98 | |
Class R-5E: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
06/30/20215,6 | | | 21.51 | | | | .18 | | | | (.87 | ) | | | (.69 | ) | | | (.19 | ) | | | (.12 | ) | | | — | | | | (.31 | ) | | | 20.51 | | | | (3.19 | )7 | | | 25 | | | | .64 | 8 | | | .64 | 8 | | | 1.73 | 8 |
12/31/2020 | | | 20.23 | | | | .39 | | | | 1.64 | | | | 2.03 | | | | (.46 | ) | | | (.29 | ) | | | — | | | | (.75 | ) | | | 21.51 | | | | 10.21 | | | | 25 | | | | .63 | | | | .63 | | | | 1.89 | |
12/31/2019 | | | 19.22 | | | | .50 | | | | 1.03 | | | | 1.53 | | | | (.45 | ) | | | (.07 | ) | | | — | | | | (.52 | ) | | | 20.23 | | | | 7.98 | | | | 8 | | | | .66 | | | | .66 | | | | 2.48 | |
12/31/2018 | | | 19.94 | | | | .50 | | | | (.75 | ) | | | (.25 | ) | | | (.47 | ) | | | — | | | | — | | | | (.47 | ) | | | 19.22 | | | | (1.24 | ) | | | 3 | | | | .67 | | | | .67 | | | | 2.58 | |
12/31/2017 | | | 18.94 | | | | .46 | | | | .94 | | | | 1.40 | | | | (.16 | ) | | | — | | | | (.24 | ) | | | (.40 | ) | | | 19.94 | | | | 7.41 | | | | — | 11 | | | .74 | | | | .72 | | | | 2.33 | |
12/31/20165,9 | | | 20.50 | | | | .11 | | | | (1.42 | ) | | | (1.31 | ) | | | (.13 | ) | | | (.07 | ) | | | (.05 | ) | | | (.25 | ) | | | 18.94 | | | | (6.45 | )7 | | | — | 11 | | | .19 | 7 | | | .19 | 7 | | | .56 | 7 |
09/30/2016 | | | 19.02 | | | | .36 | | | | 1.37 | | | | 1.73 | | | | (.25 | ) | | | — | | | | — | | | | (.25 | ) | | | 20.50 | | | | 9.21 | 7 | | | — | 11 | | | .72 | 8 | | | .72 | 8 | | | 2.12 | 8 |
Class R-5: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
06/30/20215,6 | | | 21.56 | | | | .19 | | | | (.87 | ) | | | (.68 | ) | | | (.20 | ) | | | (.12 | ) | | | — | | | | (.32 | ) | | | 20.56 | | | | (3.13 | )7 | | | 56 | | | | .54 | 8 | | | .54 | 8 | | | 1.83 | 8 |
12/31/2020 | | | 20.27 | | | | .42 | | | | 1.64 | | | | 2.06 | | | | (.48 | ) | | | (.29 | ) | | | — | | | | (.77 | ) | | | 21.56 | | | | 10.33 | | | | 56 | | | | .54 | | | | .54 | | | | 2.01 | |
12/31/2019 | | | 19.26 | | | | .52 | | | | 1.03 | | | | 1.55 | | | | (.47 | ) | | | (.07 | ) | | | — | | | | (.54 | ) | | | 20.27 | | | | 8.06 | | | | 52 | | | | .56 | | | | .56 | | | | 2.61 | |
12/31/2018 | | | 19.98 | | | | .51 | | | | (.74 | ) | | | (.23 | ) | | | (.49 | ) | | | — | | | | — | | | | (.49 | ) | | | 19.26 | | | | (1.17 | ) | | | 76 | | | | .58 | | | | .58 | | | | 2.61 | |
12/31/2017 | | | 18.97 | | | | .49 | | | | .95 | | | | 1.44 | | | | (.17 | ) | | | — | | | | (.26 | ) | | | (.43 | ) | | | 19.98 | | | | 7.65 | | | | 84 | | | | .59 | | | | .59 | | | | 2.50 | |
12/31/20165,9 | | | 20.54 | | | | .12 | | | | (1.42 | ) | | | (1.30 | ) | | | (.15 | ) | | | (.07 | ) | | | (.05 | ) | | | (.27 | ) | | | 18.97 | | | | (6.42 | )7 | | | 76 | | | | .14 | 7 | | | .14 | 7 | | | .62 | 7 |
09/30/2016 | | | 19.24 | | | | .45 | | | | 1.15 | | | | 1.60 | | | | (.30 | ) | | | — | | | | — | | | | (.30 | ) | | | 20.54 | | | | 8.45 | | | | 79 | | | | .59 | | | | .59 | | | | 2.29 | |
Class R-6: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
06/30/20215,6 | | | 21.55 | | | | .20 | | | | (.88 | ) | | | (.68 | ) | | | (.21 | ) | | | (.12 | ) | | | — | | | | (.33 | ) | | | 20.54 | | | | (3.15 | )7 | | | 6,154 | | | | .48 | 8 | | | .48 | 8 | | | 1.89 | 8 |
12/31/2020 | | | 20.26 | | | | .43 | | | | 1.64 | | | | 2.07 | | | | (.49 | ) | | | (.29 | ) | | | — | | | | (.78 | ) | | | 21.55 | | | | 10.40 | | | | 5,316 | | | | .48 | | | | .48 | | | | 2.07 | |
12/31/2019 | | | 19.25 | | | | .53 | | | | 1.03 | | | | 1.56 | | | | (.48 | ) | | | (.07 | ) | | | — | | | | (.55 | ) | | | 20.26 | | | | 8.14 | | | | 4,294 | | | | .50 | | | | .50 | | | | 2.65 | |
12/31/2018 | | | 19.97 | | | | .52 | | | | (.74 | ) | | | (.22 | ) | | | (.50 | ) | | | — | | | | — | | | | (.50 | ) | | | 19.25 | | | | (1.11 | ) | | | 3,124 | | | | .52 | | | | .52 | | | | 2.67 | |
12/31/2017 | | | 18.96 | | | | .50 | | | | .95 | | | | 1.45 | | | | (.17 | ) | | | — | | | | (.27 | ) | | | (.44 | ) | | | 19.97 | | | | 7.72 | | | | 2,562 | | | | .54 | | | | .54 | | | | 2.56 | |
12/31/20165,9 | | | 20.54 | | | | .12 | | | | (1.43 | ) | | | (1.31 | ) | | | (.14 | ) | | | (.07 | ) | | | (.06 | ) | | | (.27 | ) | | | 18.96 | | | | (6.43 | )7 | | | 2,602 | | | | .14 | 7 | | | .14 | 7 | | | .62 | 7 |
09/30/2016 | | | 19.24 | | | | .46 | | | | 1.15 | | | | 1.61 | | | | (.31 | ) | | | — | | | | — | | | | (.31 | ) | | | 20.54 | | | | 8.51 | | | | 2,483 | | | | .53 | | | | .53 | | | | 2.35 | |
See end of table for footnotes.
Capital World Bond Fund | 59 |
Financial Highlights (continued)
| | Six months | | | | | | | | | | | | | | Three months | | | |
| | ended | | | | | | | | | | | | | | ended | | Year ended |
| | June 30, | | Year ended December 31, | | December 31, | | September 30, |
Portfolio turnover rate for all share classes15,16 | | 20215,6,7 | | 2020 | | 2019 | | 2018 | | 2017 | | 20165,7,9 | | 2016 |
Excluding mortgage dollar roll transactions | | | 36 | % | | | 100 | % | | | 120 | % | | | 99 | % | | | 95 | % | | | 15 | % | | | 91 | % |
Including mortgage dollar roll transactions | | | 47 | % | | | 143 | % | | | 163 | % | | | 128 | % | | | 111 | % | | | 19 | % | | | 138 | % |
| |
1 | Based on average shares outstanding. |
2 | Total returns exclude any applicable sales charges, including contingent deferred sales charges. |
3 | This column reflects the impact, if any, of certain reimbursements from CRMC. During the periods shown, CRMC reimbursed a portion of transfer agent services fees for Class 529-F-3 shares. |
4 | Ratios do not include expenses of any Central Funds. The fund indirectly bears its proportionate share of the expenses of any Central Funds. |
5 | Based on operations for a period that is less than a full year. |
6 | Unaudited. |
7 | Not annualized. |
8 | Annualized. |
9 | In 2016, the fund changed its fiscal year-end from September to December. |
10 | All or a significant portion of assets in this class consisted of seed capital invested by CRMC and/or its affiliates. Fees for distribution services are not charged or accrued on these seed capital assets. If such fees were paid by the fund on seed capital assets, fund expenses would have been higher and net income and total return would have been lower. |
11 | Amount less than $1 million. |
12 | Class T and 529-T shares began investment operations on April 7, 2017. |
13 | Class F-3 shares began investment operations on January 27, 2017. |
14 | Class 529-F-2 and 529-F-3 shares began investment operations on October 30, 2020. |
15 | Rates do not include the fund’s portfolio activity with respect to any Central Funds. |
16 | Refer to Note 5 for more information on mortgage doller rolls. |
See notes to financial statements.
60 | Capital World Bond Fund |
As a fund shareholder, you incur two types of costs: (1) transaction costs, such as initial sales charges on purchase payments and contingent deferred sales charges on redemptions (loads), and (2) ongoing costs, including management fees, distribution and service (12b-1) fees, and other expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the fund so you can compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire six-month period (January 1, 2021, through June 30, 2021).
Actual expenses:
The first line of each share class in the table on the following page provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading titled “Expenses paid during period” to estimate the expenses you paid on your account during this period.
Hypothetical example for comparison purposes:
The second line of each share class in the table on the following page provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio for the share class and an assumed rate of return of 5.00% per year before expenses, which is not the actual return of the share class. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the fund and other funds. To do so, compare this 5.00% hypothetical example with the 5.00% hypothetical examples that appear in the shareholder reports of the other funds.
Notes:
Retirement plan participants may be subject to certain fees charged by the plan sponsor, and Class F-1, F-2, F-3, 529-F-1, 529-F-2 and 529-F-3 shareholders may be subject to fees charged by financial intermediaries, typically ranging from 0.75% to 1.50% of assets annually depending on services offered. You can estimate the impact of these fees by adding the amount of the fees to the total estimated expenses you paid on your account during the period as calculated above. In addition, your ending account value would be lower by the amount of these fees.
Note that the expenses shown in the table on the following page are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of each share class in the table is useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
Capital World Bond Fund | 61 |
Expense example (continued) | | Beginning account value 1/1/2021 | | | Ending account value 6/30/2021 | | | Expenses paid during period* | | | Annualized expense ratio | |
Class A – actual return | | $ | 1,000.00 | | | $ | 966.30 | | | $ | 4.53 | | | | .93 | % |
Class A – assumed 5% return | | | 1,000.00 | | | | 1,020.18 | | | | 4.66 | | | | .93 | |
Class C – actual return | | | 1,000.00 | | | | 963.09 | | | | 8.03 | | | | 1.65 | |
Class C – assumed 5% return | | | 1,000.00 | | | | 1,016.61 | | | | 8.25 | | | | 1.65 | |
Class T – actual return | | | 1,000.00 | | | | 967.50 | | | | 3.32 | | | | .68 | |
Class T – assumed 5% return | | | 1,000.00 | | | | 1,021.42 | | | | 3.41 | | | | .68 | |
Class F-1 – actual return | | | 1,000.00 | | | | 966.10 | | | | 4.58 | | | | .94 | |
Class F-1 – assumed 5% return | | | 1,000.00 | | | | 1,020.13 | | | | 4.71 | | | | .94 | |
Class F-2 – actual return | | | 1,000.00 | | | | 968.36 | | | | 2.88 | | | | .59 | |
Class F-2 – assumed 5% return | | | 1,000.00 | | | | 1,021.87 | | | | 2.96 | | | | .59 | |
Class F-3 – actual return | | | 1,000.00 | | | | 968.93 | | | | 2.34 | | | | .48 | |
Class F-3 – assumed 5% return | | | 1,000.00 | | | | 1,022.41 | | | | 2.41 | | | | .48 | |
Class 529-A – actual return | | | 1,000.00 | | | | 966.73 | | | | 4.63 | | | | .95 | |
Class 529-A – assumed 5% return | | | 1,000.00 | | | | 1,020.08 | | | | 4.76 | | | | .95 | |
Class 529-C – actual return | | | 1,000.00 | | | | 962.80 | | | | 8.22 | | | | 1.69 | |
Class 529-C – assumed 5% return | | | 1,000.00 | | | | 1,016.41 | | | | 8.45 | | | | 1.69 | |
Class 529-E – actual return | | | 1,000.00 | | | | 965.38 | | | | 5.36 | | | | 1.10 | |
Class 529-E – assumed 5% return | | | 1,000.00 | | | | 1,019.34 | | | | 5.51 | | | | 1.10 | |
Class 529-T – actual return | | | 1,000.00 | | | | 967.78 | | | | 3.51 | | | | .72 | |
Class 529-T – assumed 5% return | | | 1,000.00 | | | | 1,021.22 | | | | 3.61 | | | | .72 | |
Class 529-F-1 – actual return | | | 1,000.00 | | | | 967.64 | | | | 3.61 | | | | .74 | |
Class 529-F-1 – assumed 5% return | | | 1,000.00 | | | | 1,021.12 | | | | 3.71 | | | | .74 | |
Class 529-F-2 – actual return | | | 1,000.00 | | | | 967.68 | | | | 3.17 | | | | .65 | |
Class 529-F-2 – assumed 5% return | | | 1,000.00 | | | | 1,021.57 | | | | 3.26 | | | | .65 | |
Class 529-F-3 – actual return | | | 1,000.00 | | | | 968.60 | | | | 2.68 | | | | .55 | |
Class 529-F-3 – assumed 5% return | | | 1,000.00 | | | | 1,022.07 | | | | 2.76 | | | | .55 | |
Class R-1 – actual return | | | 1,000.00 | | | | 963.52 | | | | 7.79 | | | | 1.60 | |
Class R-1 – assumed 5% return | | | 1,000.00 | | | | 1,016.86 | | | | 8.00 | | | | 1.60 | |
Class R-2 – actual return | | | 1,000.00 | | | | 963.13 | | | | 7.79 | | | | 1.60 | |
Class R-2 – assumed 5% return | | | 1,000.00 | | | | 1,016.86 | | | | 8.00 | | | | 1.60 | |
Class R-2E – actual return | | | 1,000.00 | | | | 964.89 | | | | 6.33 | | | | 1.30 | |
Class R-2E – assumed 5% return | | | 1,000.00 | | | | 1,018.35 | | | | 6.51 | | | | 1.30 | |
Class R-3 – actual return | | | 1,000.00 | | | | 965.67 | | | | 5.56 | | | | 1.14 | |
Class R-3 – assumed 5% return | | | 1,000.00 | | | | 1,019.14 | | | | 5.71 | | | | 1.14 | |
Class R-4 – actual return | | | 1,000.00 | | | | 967.21 | | | | 4.10 | | | | .84 | |
Class R-4 – assumed 5% return | | | 1,000.00 | | | | 1,020.63 | | | | 4.21 | | | | .84 | |
Class R-5E – actual return | | | 1,000.00 | | | | 968.11 | | | | 3.12 | | | | .64 | |
Class R-5E – assumed 5% return | | | 1,000.00 | | | | 1,021.62 | | | | 3.21 | | | | .64 | |
Class R-5 – actual return | | | 1,000.00 | | | | 968.68 | | | | 2.64 | | | | .54 | |
Class R-5 – assumed 5% return | | | 1,000.00 | | | | 1,022.12 | | | | 2.71 | | | | .54 | |
Class R-6 – actual return | | | 1,000.00 | | | | 968.48 | | | | 2.34 | | | | .48 | |
Class R-6 – assumed 5% return | | | 1,000.00 | | | | 1,022.41 | | | | 2.41 | | | | .48 | |
* | The “expenses paid during period” are equal to the “annualized expense ratio,” multiplied by the average account value over the period, multiplied by the number of days in the period, and divided by 365 (to reflect the one-half year period). |
62 | Capital World Bond Fund |
Approval of Investment Advisory and Service Agreement
The fund’s board has approved the continuation of the fund’s Investment Advisory and Service Agreement (the “agreement”) with Capital Research and Management Company (“CRMC”) for an additional one-year term through April 30, 2022. The board approved the agreement following the recommendation of the fund’s Contracts Committee (the “committee”), which is composed of all the fund’s independent board members. The board and the committee determined in the exercise of their business judgment that the fund’s advisory fee structure was fair and reasonable in relation to the services provided, and that approving the agreement was in the best interests of the fund and its shareholders.
In reaching this decision, the board and the committee took into account their interaction with CRMC as well as information furnished to them throughout the year and otherwise provided to them, as well as information prepared specifically in connection with their review of the agreement, and were advised by their independent counsel with respect to the matters considered. They considered the following factors, among others, but did not identify any single issue or particular piece of information that, in isolation, was the controlling factor, and each board and committee member did not necessarily attribute the same weight to each factor.
1. Nature, extent and quality of services
The board and the committee considered the depth and quality of CRMC’s investment management process, including its global research capabilities; the experience, capability and integrity of its senior management and other personnel; the low turnover rates of its key personnel; the overall financial strength and stability of CRMC and the Capital Group organization; the resources and systems CRMC devotes to investment management (the manner in which the fund’s assets are managed, including liquidity management), financial, investment operations, compliance, trading, proxy voting, shareholder communications, and other services; and the ongoing evolution of CRMC’s organizational structure designed to maintain and strengthen these qualities. The board and the committee also considered the nature, extent and quality of administrative and shareholder services provided by CRMC to the fund under the agreement and other agreements, as well as the benefits to fund shareholders from investing in a fund that is part of a large family of funds. The board and the committee considered the risks assumed by CRMC in providing services to the fund, including operational, business, financial, reputational, regulatory and litigation risks. The board and the committee concluded that the nature, extent and quality of the services provided by CRMC have benefited and should continue to benefit the fund and its shareholders.
2. Investment results
The board and the committee considered the investment results of the fund in light of its objective. They compared the fund’s investment results with those of other funds (including funds that currently form the basis of the Lipper index for the category in which the fund is included), and data such as relevant market and fund indexes over various periods (including the fund’s lifetime) through September 30, 2020. They generally placed greater emphasis on investment results over longer term periods. On the basis of this evaluation and the board’s and the committee’s ongoing review of investment results, and considering the relative market conditions during certain reporting periods, the board and the committee concluded that the fund’s investment results have been satisfactory for renewal of the agreement, and that CRMC’s record in managing the fund indicated that its continued management should benefit the fund and its shareholders.
3. Advisory fees and total expenses
The board and the committee compared the advisory fees and total expense levels of the fund to those of other relevant funds. They observed that the fund’s advisory fees and expenses were generally competitive with those of other similar funds included in the comparable Lipper category. The board and the committee also considered the breakpoint discounts in the fund’s advisory fee structure that reduce the level of fees charged by CRMC to the fund as fund assets increase. In addition, they reviewed information regarding the effective advisory fees charged to non-mutual fund clients by CRMC and its affiliates. They noted that, to the extent there were differences between the advisory fees paid by the fund and the advisory fees paid by those clients, the differences appropriately reflected the investment, operational, regulatory and market differences between advising the fund and the other clients. The board and the committee concluded that the fund’s cost structure was fair and reasonable in relation to the services provided, as well as in relation to the risks assumed by the adviser in sponsoring and managing the fund, and that the fund’s shareholders receive reasonable value in return for the advisory fees and other amounts paid to CRMC by the fund.
Capital World Bond Fund | 63 |
4. Ancillary benefits
The board and the committee considered a variety of other benefits that CRMC and its affiliates receive as a result of CRMC’s relationship with the fund and other American Funds, including fees for administrative services provided to certain share classes; fees paid to CRMC’s affiliated transfer agent; sales charges and distribution fees received and retained by the fund’s principal underwriter, an affiliate of CRMC; and possible ancillary benefits to CRMC and its institutional management affiliates in managing other investment vehicles. The board and the committee reviewed CRMC’s portfolio trading practices, noting that through December 31, 2018, CRMC benefited from research obtained with commissions from portfolio transactions made on behalf of the fund, and since that time has undertaken to bear the cost of obtaining such research. The board and the committee took these ancillary benefits into account in evaluating the reasonableness of the advisory fees and other amounts paid to CRMC by the fund.
5. Adviser financial information
The board and the committee reviewed information regarding CRMC’s costs of providing services to the American Funds, including personnel, systems and resources of investment, compliance, trading, accounting and other administrative operations. They considered CRMC’s costs and related cost allocation methodology as well as its track record of investing in technology, infrastructure and staff to maintain and expand services and capabilities, respond to industry and regulatory developments, and attract and retain qualified personnel. They noted information regarding the compensation structure for CRMC’s investment professionals. They reviewed information on the profitability of the investment adviser and its affiliates. The board and the committee also compared CRMC’s profitability and compensation data to the reported results and data of several large, publicly held investment management companies. The board and the committee noted the competitiveness and cyclicality of both the mutual fund industry and the capital markets, and the importance in that environment of CRMC’s long-term profitability for maintaining its independence, company culture and management continuity. They further considered the breakpoint discounts in the fund’s advisory fee structure and CRMC’s sharing of potential economies of scale, or efficiencies, through breakpoints and other fee reductions and costs voluntarily absorbed. The board and the committee concluded that the fund’s advisory fee structure reflected a reasonable sharing of benefits between CRMC and the fund’s shareholders.
64 | Capital World Bond Fund |
Office of the fund
333 South Hope Street
Los Angeles, CA 90071-1406
Investment adviser
Capital Research and Management Company
333 South Hope Street
Los Angeles, CA 90071-1406
Transfer agent for shareholder accounts
American Funds Service Company
(Write to the address near you.)
P.O. Box 6007
Indianapolis, IN 46206-6007
P.O. Box 2280
Norfolk, VA 23501-2280
Custodian of assets
JPMorgan Chase Bank
270 Park Avenue
New York, NY 10017-2070
Counsel
Morgan, Lewis & Bockius LLP
One Federal Street
Boston, MA 02110-1726
Independent registered public accounting firm
Deloitte & Touche LLP
695 Town Center Drive
Suite 1000
Costa Mesa, CA 92626-7188
Principal underwriter
American Funds Distributors, Inc.
333 South Hope Street
Los Angeles, CA 90071-1406
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectus and summary prospectus, which can be obtained from your financial professional and should be read carefully before investing. You may also call American Funds Service Company (AFS) at (800) 421-4225 or visit the Capital Group website at capitalgroup.com.
“American Funds Proxy Voting Procedures and Principles” — which describes how we vote proxies relating to portfolio securities — is available on our website or upon request by calling AFS. The fund files its proxy voting record with the U.S. Securities and Exchange Commission (SEC) for the 12 months ended June 30 by August 31. The proxy voting record is available free of charge on the SEC website at sec.gov and on our website.
Capital World Bond Fund files a complete list of its portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form NPORT-P. The list of portfolio holdings is available free of charge on the SEC website and on our website.
This report is for the information of shareholders of Capital World Bond Fund, but it also may be used as sales literature when preceded or accompanied by the current prospectus or summary prospectus, which gives details about charges, expenses, investment objectives and operating policies of the fund. If used as sales material after September 30, 2021, this report must be accompanied by an American Funds statistical update for the most recently completed calendar quarter.
Bloomberg® is a trademark of Bloomberg Finance L.P. (collectively with its affiliates, “Bloomberg”). Barclays® is a trademark of Barclays Bank Plc (collectively with its affiliates, “Barclays”), used under license. Neither Bloomberg nor Barclays approves or endorses this material, guarantees the accuracy or completeness of any information herein and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.
London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2021. FTSE Russell is a trading name of certain of the LSE Group companies. FTSE indexes are trademarks of the relevant LSE Group companies and are used by any other LSE Group company under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.
American Funds Distributors, Inc., member FINRA.
The Capital Advantage®
Since 1931, Capital Group, home of American Funds, has helped investors pursue long-term investment success. Our consistent approach — in combination with The Capital SystemSM — has resulted in superior outcomes.
| Aligned with investor success |
| We base our decisions on a long-term perspective, which we believe aligns our goals with the interests of our clients. Our portfolio managers average 27 years of investment industry experience, including 21 years at our company, reflecting a career commitment to our long-term approach.1 |
| |
| The Capital System |
| The Capital System combines individual accountability with teamwork. Funds using The Capital System are divided into portions that are managed independently by investment professionals with diverse backgrounds, ages and investment approaches. An extensive global research effort is the backbone of our system. |
| |
| American Funds’ superior outcomes |
| Equity funds have beaten their Lipper peer indexes in 91% of 10-year periods and 98% of 20-year periods.2 Fixed income funds have helped investors achieve diversification through attention to correlation between bonds and equities.3 Fund management fees have been among the lowest in the industry.4 |
| 1 | Investment industry experience as of December 31, 2020. |
| 2 | Based on Class F-2 share results for rolling calendar-year periods starting the first full calendar year after each fund’s inception through December 31, 2020. Periods covered are the shorter of the fund’s lifetime or since the comparable Lipper index inception date (except Capital Income Builder and SMALLCAP World Fund, for which the Lipper average was used). Expenses differ for each share class, so results will vary. |
| 3 | Based on Class F-2 share results as of December 31, 2020. Thirteen of the 17 fixed income American Funds that have been in existence for the three-year period showed a three-year correlation below 0.3. Standard & Poor’s 500 Index was used as an equity market proxy. Correlation based on monthly total returns. Correlation is a statistical measure of how two securities move in relation to each other. A correlation ranges from –1 to 1. |
| | A positive correlation close to 1 implies that as one security moves, either up or down, the other security will move in “lockstep,” in the same direction. A negative correlation close to –1 indicates that the securities have moved in the opposite direction. |
| 4 | On average, our management fees were in the lowest quintile 66% of the time, based on the 20-year period ended December 31, 2020, versus comparable Lipper categories, excluding funds of funds. |
Class F-2 shares were first offered on August 1, 2008. Class F-2 share results prior to the date of first sale are hypothetical based on the results of the original share class of the fund without a sales charge, adjusted for typical estimated expenses. Results for certain funds with an inception date after August 1, 2008, also include hypothetical returns because those funds’ Class F-2 shares sold after the funds’ date of first offering. Visit capitalgroup.com for more information on specific expense adjustments and the actual dates of first sale.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.

ITEM 2 – Code of Ethics
Not applicable for filing of semi-annual reports to shareholders.
ITEM 3 – Audit Committee Financial Expert
Not applicable for filing of semi-annual reports to shareholders.
ITEM 4 – Principal Accountant Fees and Services
Not applicable for filing of semi-annual reports to shareholders.
ITEM 5 – Audit Committee of Listed Registrants
Not applicable to this Registrant, insofar as the Registrant is not a listed issuer as defined in Rule 10A-3 under the Securities Exchange Act of 1934.
ITEM 6 – Schedule of Investments
Not applicable, insofar as the schedule is included as part of the report to shareholders filed under Item 1 of this Form.
ITEM 7 – Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.
ITEM 8 – Portfolio Managers of Closed-End Management Investment Companies
Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.
ITEM 9 – Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.
ITEM 10 – Submission of Matters to a Vote of Security Holders
There have been no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s board of trustees since the Registrant last submitted a proxy statement to its shareholders. The procedures are as follows. The Registrant has a nominating and governance committee comprised solely of persons who are not considered ‘‘interested persons’’ of the Registrant within the meaning of the Investment Company Act of 1940, as amended. The committee periodically reviews such issues as the board’s composition, responsibilities, committees, compensation and other relevant issues, and recommends any appropriate changes to the full board of trustees. While the committee normally is able to identify from its own resources an ample number of qualified candidates, it will consider shareholder suggestions of persons to be considered as nominees to fill future vacancies on the board. Such suggestions must be sent in writing to the nominating and governance committee of the Registrant, c/o the Registrant’s Secretary, and must be accompanied by complete biographical and occupational data on the prospective nominee, along with a written consent of the prospective nominee for consideration of his or her name by the nominating and governance committee.
ITEM 11 – Controls and Procedures
(a) | The Registrant’s Principal Executive Officer and Principal Financial Officer have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures (as such term is defined in Rule 30a-3 under the Investment Company Act of 1940), that such controls and procedures are adequate and reasonably designed to achieve the purposes described in paragraph (c) of such rule. |
| |
(b) | There were no changes in the Registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the Registrant’s semi-annual period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting. |
ITEM 12 – Exhibits
(a)(1) | Not applicable for filing of semi-annual reports to shareholders. |
| |
(a)(2) | The certifications required by Rule 30a-2 of the Investment Company Act of 1940 and Sections 302 and 906 of the Sarbanes-Oxley Act of 2002 are attached as exhibits hereto. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| CAPITAL WORLD BOND FUND |
| |
| By __/s/ Kristine M. Nishiyama____________________ |
| Kristine M. Nishiyama, Principal Executive Officer |
| |
| Date: August 31, 2021 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
By __/s/ Kristine M. Nishiyama_________________ |
Kristine M. Nishiyama, Principal Executive Officer |
|
Date: August 31, 2021 |
By ___/s/ Brian C. Janssen __________ |
Brian C. Janssen, Treasurer and Principal Financial Officer |
|
Date: August 31, 2021 |