Fund Details

 

Investment Strategy: The KraneShares MSCI One Belt One Road ETF (ticker: OBOR) seeks to provide investment results that track the price and yield performance of the MSCI Global China Infrastructure Exposure Index.

The figure reflects dividends and interest earned by the securities held by the fund during the most recent day period, net the fund's expenses. In an effort to classify funds by what they own, as well as by their prospectus objectives and styles, Morningstar developed Morningstar Categories. Your e-mail address may be pre-filled if you have previously provided American Funds with this information. Beta relatively measures sensitivity to market movements over a specified period of time.

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Updated world stock indexes. Get an overview of major world indexes, current values and stock market data.

Jonathan Knowles 27 27 3. Winnie Kwan 22 19 Lovelace 34 34 Christopher Thomsen 21 21 Backes 1 12 25 Wahid Butt 11 15 27 Mark E. Denning 20 36 Bradford F. Freer 2 25 26 Nicholas J. Grace 11 25 29 Carl M. Lovelace 20 34 Christopher Thomsen 10 A boldface number indicates that years of experience with Capital Group is equal to years of experience with investment industry.

Overall Morningstar Rating TM. Fund Standard Deviation Fund Breakdown by Domicile. Daily Dividend Accrual for Pay Date. Rate As of Date 0. Current Daily Dividend Accrual. Rate As of-Date 0. Annual Management Fees 0. As of each fund's most recent prospectus. Fund as of most recent prospectus. Share Class Pricing Details. Excludes certain securities in initial period of acquisition.

Effective at the end of September , Global Industry Classification Standard GICS sector classifications changed for a number of stocks in the information technology, consumer discretionary and telecommunication services sectors. Figures include convertible securities; totals may not reconcile due to rounding. Underlying revenue data were compiled by MSCI and account for disparities in the way companies report their revenues across geographic segments.

MSCI provides revenue data figures based on a proprietary, standardized model. In this breakdown, Israel has been included in Europe. Neithart will transition out of the fund. Backes will be named as a portfolio manager.

Preservation ratings are relative, rather than absolute, measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds.

Tax Efficiency offers no benefit to investors in tax-sheltered accounts such as k plans. The Lipper ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Total Return, Consistent Return, Preservation, Tax Efficiency and Expense metrics. Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. Calculated by American Funds.

Due to differing calculation methods, the figures shown here may differ from those calculated by Morningstar. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance.

The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and year if applicable Morningstar Rating metrics. While the year overall star rating formula seems to give the most weight to the year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Past results are not guarantee of results in future periods.

The months indicated for dividends and capital gains paid represent the anticipated current year ex-dividend date schedule for all share classes. Expense ratios are as of the most recent prospectus. Source for Lipper expense ratio comparison: A "centroid" plot in the middle of the Ownership Zone represents the weighted average of all the fund's holdings.

A fund that is concentrated will have a small ownership zone relative to the area of the style box, and broadly diversified fund will have an ownership zone that stretches across many sizes and style. Over a period of time, the shape and location of a fund's ownership zone may vary. Accordingly, the fund's SEC yield and distribution rate may differ. Click on the Read important investment disclosures link above for more information about Active Share.

Beta relatively measures sensitivity to market movements over a specified period of time. The beta of the market represented by the benchmark index is equal to 1; a beta higher than 1 implies that a return was more volatile than the market.

A beta lower than 1 suggests that a return was less volatile than the market. Generally the higher the R-squared measure, the more reliable the beta measurement will be. Calculated by American Funds. Due to differing calculation methods, the figures shown here may differ from those calculated by Morningstar.

Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and year if applicable Morningstar Rating metrics.

While the year overall star rating formula seems to give the most weight to the year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Past results are not guarantee of results in future periods. The months indicated for dividends and capital gains paid represent the anticipated current year ex-dividend date schedule for all share classes.

Expense ratios are as of the most recent prospectus. Source for Lipper expense ratio comparison: A "centroid" plot in the middle of the Ownership Zone represents the weighted average of all the fund's holdings. A fund that is concentrated will have a small ownership zone relative to the area of the style box, and broadly diversified fund will have an ownership zone that stretches across many sizes and style.

Over a period of time, the shape and location of a fund's ownership zone may vary. Class C shares convert to Class F-1 shares after 10 years. Accordingly, the fund's SEC yield and distribution rate may differ. Click on the Read important investment disclosures link above for more information about Active Share. Beta relatively measures sensitivity to market movements over a specified period of time. The beta of the market represented by the benchmark index is equal to 1; a beta higher than 1 implies that a return was more volatile than the market.

A beta lower than 1 suggests that a return was less volatile than the market. Generally the higher the R-squared measure, the more reliable the beta measurement will be. Specifies how well benchmark results have matched during declining market periods. A downside capture ratio less than indicates the strategy lost less than the index in negative monthly return periods.

Specifies how well benchmark results have matched during rising market periods. An upside capture ratio above indicates the strategy gained more than a market index in positive monthly return periods. The income per share paid by the fund over the past 12 months to an investor from dividends including any special dividends. The distribution rate is expressed as a percentage of the current price. Historical Long-Term Capital Gains: When a capital gain distribution is paid, the net asset value per share is reduced by the amount of the payment plus or minus any change in the value of the fund's holdings.

Read our explanation of the effect of a capital gain on a fund's price for details. Two types of capital gains are realized by our funds — short-term and long-term.

Net short-term capital gains are distributed to shareholders as income dividends and are taxed at ordinary income tax rates. The information above classifies gain from the sale or exchange of a capital asset held for more than one year as a long-term capital gain.

The share prices of all of our equity funds decrease when a dividend is paid. A fund pays a special dividend when the investment income generated by the fund exceeds the income the fund has paid in the form of dividends throughout the year.

Special dividends are distributed with the last dividend payment at the end of the calendar year. Prior to January 1, , short-term capital gains distributed to shareholders as income dividends and special dividends paid to shareholders were included in the aggregate income dividend dollar amount. Historical Short-Term Capital Gains: The share price of only one of our fixed-income funds, Capital World Bond Fund, also decreases when a dividend is paid. In an effort to classify funds by what they own, as well as by their prospectus objectives and styles, Morningstar developed Morningstar Categories.

While the prospectus objective identifies a fund's investment goals based on the wording in the fund prospectus, the Morningstar Category identifies funds based on their actual investment styles as measured by their underlying portfolio holdings portfolio and other statistics over the past three years. MSCI All Country World Index is a free float-adjusted market capitalization weighted index that is designed to measure equity market results in the global developed and emerging markets, consisting of more than 40 developed and emerging market country indexes.

Results reflect dividends gross of withholding taxes through December 31, , and dividends net of withholding taxes thereafter. R-squared is a measure of the correlation between a particular return and that of a benchmark index. A measure of indicates that all of the return can be explained by movements in the benchmark.

Each share class available for a fund has different fees and expense structures, but all of the classes for a particular fund invest in the same pool of securities. Annualized standard deviation based on monthly returns is a common measure of absolute volatility that tells how returns over time have varied from the mean. A lower number signifies lower volatility.

The ratio reflects the cost of a given stock per dollar of current annual earnings and is the most common measure of a stock's expense. Price-to-book ratio compares a stock's market value to the value of total assets less total liabilities book value.

WAM is calculated by weighting each bond's time to maturity by the size of the holding. Portfolios with longer WAMs are generally more sensitive to changes in interest rates.

Yield to maturity YTM is the annual rate of return paid on a bond if it is held until the maturity date. Weighted average yield to maturity represents an average of the YTM of each of the bonds held in a bond fund or portfolio, weighted by the relative size of each bond in the portfolio. A coupon is the interest rate paid out on a bond on an annual basis. The weighted average coupon of a bond fund is arrived at by weighting the coupon of each bond by its relative size in the portfolio.

Weighted average price WAP is computed for most bond funds by weighting the price of each bond by its relative size in the portfolio. This statistic is expressed as a percentage of par face value.

The price shown here is "clean," meaning it does not reflect accrued interest. Monthly volatility refers to annualized standard deviation, a statistical measure that captures the variation of returns from their mean and that is often used to quantify the risk of a fund or index over a specific time period. The higher the volatility, the more the returns fluctuate over time. Absolute return strategies seek to provide positive returns in a wide variety of market conditions.

These strategies employ investment techniques that go beyond conventional long-only investing, including leverage, short selling, futures, options, etc. Arbitrage refers to the simultaneous purchase and sale of an asset in order to profit from a difference in the price of identical or similar financial instruments, on different markets or in different forms.

For example, convertible arbitrage looks for price differences among linked securities, like stocks and convertible bonds of the same company. Merger arbitrage involves investing in securities of companies that are the subject of some form of corporate transaction, including acquisition or merger proposals and leveraged buyouts.

Commodity refers to a basic good used in commerce that is interchangeable with other goods of the same type. Examples include oil, grain and livestock. Correlation is a statistical measure of how two variables relate to each other. Two different investments with a correlation of 1. The higher the correlation, the lower the diversifying effect. Currency refers to a generally accepted medium of exchange, such as the dollar, the euro, the yen, the Swiss franc, etc.

Market neutral is a strategy that involves attempting to remove all directional market risk by being equally long and short. Futures refers to a financial contract obligating the buyer to purchase an asset or the seller to sell an asset , such as a physical commodity or a financial instrument, at a predetermined future date and price.

Global macro strategies aim to profit from changes in global economies that are typically brought about by shifts in government policy, which impact interest rates and in turn affect currency, bond and stock markets.

Hedge funds invest in a diverse range of markets and securities, using a wide variety of techniques and strategies, all intended to reduce risk while focusing on absolute rather than relative returns.

Leverage refers to using borrowed funds to make an investment. Investors use leverage when they believe the return of an investment will exceed the cost of borrowed funds. Leverage can increase the potential for higher returns, but can also increase the risk of loss. Managed futures involves taking long and short positions in futures and options in the global commodity, interest rate, equity, and currency markets.

Precious metals refer to gold, silver, platinum and palladium.