ANNUAL SHAREHOLDER REPORT
Stock Exchange:
What were the fund costs for the last year?
(based on a hypothetical $10,000 investment)Fund | Cost of $10,000 Investment | Costs paid as a percentage of a $10,000 investment |
| CGCB | $ | % |
Management's discussion of fund performance
The fund's shares gained 1.58% for the year ended December 31, 2024. These results compare with a 1.25% gain for the Bloomberg U.S. Aggregate Index. For information on returns for additional periods, including the fund lifetime, please refer to
capitalgroup.com/ETF-returns
.What factors influenced results
During the fund’s fiscal year, the U.S. Federal Reserve (Fed) lowered its policy rate by 100 basis points via rate cuts in each of its last three meetings in 2024. While rates at the very front end of the yield curve have fallen since the Fed’s initial cut, longer term yields have increased. The upward trend in long-term yields has reflected the bond market’s expectations for resilient U.S. economic growth, among other factors.
Overall, many of the fund’s sectors contributed positively to relative returns for the portfolio. In particular, sector allocation decisions including overweights to securitized bonds and corporate credit were additive. Security selection within securitized sectors and corporate credit was also positive for relative returns.
Conversely, interest rate exposures, including duration and yield curve positioning, slightly detracted from relative results.
How a hypothetical $10,000 investment has grown
Figures assume reinvestment of dividends and capital gains.
Average annual total returns
1 year | Since inception 1 | |
2 | % | % |
3 | % | % |
1
The fund began investment operations on 2
Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.3
Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): Bloomberg Index Services Ltd.Key fund statistics
| Fund net assets (in millions) | $ |
| Total number of portfolio holdings | |
| Total advisory fees paid (in millions) | $ |
| Portfolio turnover rate including mortgage dollar roll transactions | % |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 125 % |
Portfolio holdings by asset type
(percent of net assets)
*Includes derivatives.
Availability of additional information
Scan the QR code to view additional information about the fund, including its prospectus, financial information, holdings and information on proxy voting. Or refer to the web address included at the beginning of this report.
Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at
(800) 421-4225
, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.Lit. No. ETMXARX-312-0225 © 2025 Capital Group. All rights reserved.
