ANBAX vs. CWBFX

Last updated Jun 3, 2026

ANBAX (American Funds Strategic Bond Fund) and CWBFX (American Funds Capital World Bond Fund) are both mutual funds - ANBAX is a Intermediate Core-Plus Bond fund managed by American Funds, while CWBFX is a Global Bonds fund managed by American Funds. Over the past 5 years, ANBAX returned -1.01%/yr vs -2.54%/yr for CWBFX. A 0.68 correlation means they provide meaningful diversification when combined. ANBAX charges 0.71%/yr vs 0.95%/yr for CWBFX.

Performance

ANBAX vs. CWBFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds Strategic Bond Fund (ANBAX) and American Funds Capital World Bond Fund (CWBFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ANBAX achieves a -0.81% return, which is significantly lower than CWBFX's -0.60% return.

ANBAX

• 1D: -0.11%
• 1M: -0.00%
• YTD: -0.81%
• 6M: -0.70%
• 1Y: 2.54%
• 3Y*: 2.08%
• 5Y*: -1.01%
• 10Y*: —

CWBFX

• 1D: -0.25%
• 1M: -0.06%
• YTD: -0.60%
• 6M: -0.12%
• 1Y: 1.15%
• 3Y*: 2.81%
• 5Y*: -2.54%
• 10Y*: 0.25%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ANBAX vs. CWBFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ANBAX American Funds Strategic Bond Fund	-0.81%	7.18%	-0.61%	1.52%	-12.74%	-1.13%	18.10%	7.83%	0.28%	2.97%
CWBFX American Funds Capital World Bond Fund	-0.60%	7.78%	-3.25%	5.81%	-17.52%	-5.17%	9.91%	7.66%	-1.81%	7.89%

Correlation

The correlation between ANBAX and CWBFX is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.68

The correlation between ANBAX and CWBFX shifts across timeframes, from 0.68 (all time) to 0.79 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

ANBAX vs. CWBFX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ANBAX

ANBAX Risk / Return Rank: 6
ANBAX Sharpe Ratio Rank: 6
ANBAX Sortino Ratio Rank: 6
ANBAX Omega Ratio Rank: 6
ANBAX Calmar Ratio Rank: 6
ANBAX Martin Ratio Rank: 6

CWBFX

CWBFX Risk / Return Rank: 4
CWBFX Sharpe Ratio Rank: 4
CWBFX Sortino Ratio Rank: 4
CWBFX Omega Ratio Rank: 4
CWBFX Calmar Ratio Rank: 5
CWBFX Martin Ratio Rank: 5

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ANBAX vs. CWBFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds Strategic Bond Fund (ANBAX) and American Funds Capital World Bond Fund (CWBFX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ANBAX	CWBFX	Difference
Sharpe ratio Return per unit of total volatility	0.54	0.27	+0.27
Sortino ratio Return per unit of downside risk	0.78	0.42	+0.36
Omega ratio Gain probability vs. loss probability	1.11	1.05	+0.06
Calmar ratio Return relative to maximum drawdown	0.64	0.44	+0.20
Martin ratio Return relative to average drawdown	1.93	1.23	+0.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ANBAX vs. CWBFX - Sharpe Ratio Comparison

The current ANBAX Sharpe Ratio is 0.54, which is higher than the CWBFX Sharpe Ratio of 0.27. The chart below compares the historical Sharpe Ratios of ANBAX and CWBFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ANBAX	CWBFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.54	0.27	+0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.16	-0.39	+0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.85	-0.46

Drawdowns

ANBAX vs. CWBFX - Drawdown Comparison

The maximum ANBAX drawdown since its inception was -19.33%, smaller than the maximum CWBFX drawdown of -27.91%. Use the drawdown chart below to compare losses from any high point for ANBAX and CWBFX.

Drawdown Indicators

	ANBAX	CWBFX	Difference
Max Drawdown Largest peak-to-trough decline	-19.33%	-27.91%	+8.58%
Max Drawdown (1Y) Largest decline over 1 year	-3.96%	-4.45%	+0.49%
Max Drawdown (3Y) Largest decline over 3 years	-7.21%	-7.69%	+0.48%
Max Drawdown (5Y) Largest decline over 5 years	-19.33%	-26.34%	+7.01%
Max Drawdown (10Y) Largest decline over 10 years	—	-27.91%	—
Current Drawdown Current decline from peak	-7.70%	-14.44%	+6.74%
Average Drawdown Average peak-to-trough decline	-5.69%	-4.19%	-1.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.32%	1.60%	-0.28%

Volatility

ANBAX vs. CWBFX - Volatility Comparison

The current volatility for American Funds Strategic Bond Fund (ANBAX) is 1.53%, while American Funds Capital World Bond Fund (CWBFX) has a volatility of 1.81%. This indicates that ANBAX experiences smaller price fluctuations and is considered to be less risky than CWBFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ANBAX	CWBFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.53%	1.81%	-0.28%
Volatility (6M) Calculated over the trailing 6-month period	3.04%	3.77%	-0.73%
Volatility (1Y) Calculated over the trailing 1-year period	4.33%	5.17%	-0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.31%	6.57%	-0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.41%	5.66%	-0.25%

ANBAX vs. CWBFX - Expense Ratio Comparison

ANBAX has a 0.71% expense ratio, which is lower than CWBFX's 0.95% expense ratio.

Dividends

ANBAX vs. CWBFX - Dividend Comparison

ANBAX's dividend yield for the trailing twelve months is around 3.00%, more than CWBFX's 2.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ANBAX American Funds Strategic Bond Fund	3.00%	2.78%	3.07%	2.91%	5.31%	1.74%	3.87%	3.09%	3.51%	1.76%	0.00%	0.00%
CWBFX American Funds Capital World Bond Fund	2.79%	2.68%	3.01%	2.47%	1.99%	2.63%	3.18%	2.26%	1.87%	1.80%	2.05%	0.58%

Frequently Asked Questions

Can I hold both ANBAX and CWBFX in my portfolio?

ANBAX and CWBFX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ANBAX or CWBFX?

CWBFX has higher volatility (1.81%) compared to ANBAX (1.53%). In terms of maximum drawdown, ANBAX dropped -19.33% vs CWBFX's -27.91%.

Which has better risk-adjusted returns?

ANBAX currently has the higher Sharpe Ratio (0.54 vs 0.27), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.