# EDGAR Filing Document

**Accession Number:** 0001870117
**File Stem:** 0000051931-26-000271
**Filing Date:** 2026-2
**Character Count:** 3009381
**Document Hash:** 339c025f79bc730027b9a41c151d0a16
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000051931-26-000271.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0000051931-26-000271

**CONFORMED SUBMISSION TYPE**: 485BPOS

**PUBLIC DOCUMENT COUNT**: 59

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**EFFECTIVENESS DATE**: 20260301

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Capital Group Fixed Income ETF Trust
- **CENTRAL INDEX KEY:** 0001870117

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 485BPOS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23738
- **FILM NUMBER:** 26696360

**BUSINESS ADDRESS:**
- **STREET 1:** 6455 IRVINE CENTER DRIVE
- **CITY:** IRVINE
- **STATE:** CA
- **ZIP:** 92618
- **BUSINESS PHONE:** (213) 486-9200

**MAIL ADDRESS:**
- **STREET 1:** 333 SOUTH HOPE STREET, 55TH FLOOR
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Capital Group Core Plus Income ETF
- **DATE OF NAME CHANGE:** 20210629
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Capital Group Fixed Income ETF Trust
- **CENTRAL INDEX KEY:** 0001870117

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 485BPOS
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-259025
- **FILM NUMBER:** 26696359

**BUSINESS ADDRESS:**
- **STREET 1:** 6455 IRVINE CENTER DRIVE
- **CITY:** IRVINE
- **STATE:** CA
- **ZIP:** 92618
- **BUSINESS PHONE:** (213) 486-9200

**MAIL ADDRESS:**
- **STREET 1:** 333 SOUTH HOPE STREET, 55TH FLOOR
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Capital Group Core Plus Income ETF
- **DATE OF NAME CHANGE:** 20210629

## Series and Classes Contracts Data

### Capital Group Core Plus Income ETF (Series ID: S000074251)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000231860 | Share Class  | CGCP            |

### Capital Group Municipal Income ETF (Series ID: S000077686)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000238174 | Share Class  | CGMU            |

### Capital Group Short Duration Income ETF (Series ID: S000077687)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000238175 | Share Class  | CGSD            |

### Capital Group U.S. Multi-Sector Income ETF (Series ID: S000077688)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000238176 | Share Class  | CGMS            |

### Capital Group Core Bond ETF (Series ID: S000080918)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000243509 | Share Class  | CGCB            |

### Capital Group Short Duration Municipal Income ETF (Series ID: S000080919)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000243510 | Share Class  | CGSM            |

### Capital Group International Bond ETF (USD-Hedged) (Series ID: S000085083)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000249947 | Share class  | CGIB            |

### Capital Group Municipal High-Income ETF (Series ID: S000085084)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000249948 | Share class  | CGHM            |

### Capital Group Ultra Short Income ETF (Series ID: S000085085)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000249949 | Share class  | CGUI            |

### Capital Group High Yield Bond ETF (Series ID: S000092698)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000260733 | Share class  | CGHY            |

?xml version='1.0' encoding='ASCII'?

SEC File Nos. 333-259025

811-23738

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

Washington, D.C. 20549

**FORM N-1A**

Registration Statement

Under

the Securities Act of 1933

Post-Effective Amendment No. 17

and

Registration Statement

Under

the Investment Company Act of 1940

Amendment No. 20

**Capital Group Fixed Income ETF Trust**

(Exact Name of Registrant as Specified in Charter)

6455 Irvine Center Drive

Irvine, California 92618-4518

(Address of Principal Executive Offices)

Registrant's telephone number, including area code:

(213) 486-9200

***Courtney R. Taylor, Secretary***

***Capital Group Fixed Income ETF Trust***

*333 South Hope Street*

*Los Angeles, California 90071-1406*

*(Name and Address of Agent for Service)*

Copies to:

***Lea Anne Copenhefer***

***Morgan, Lewis & Bockius LLP***

*One Federal Street*

*Boston, MA 02110-1726*

*(Counsel for the Registrant)*

Approximate date of proposed public offering:

It is proposed that this filing become effective on March 1, 2026, pursuant to paragraph (b) of Rule 485.

![](graphicsimage_001.jpg)

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| | |
|:---|:---|
| **Capital Group Fixed<br> Income ETF Trust**<br> **Prospectus**<br> March 1, 2026 | ![](graphicsimage_002.jpg) |

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| | | |
|:---|:---|:---|
|  | Ticker | Exchange |
| Capital Group Core Bond ETF | CGCB | NYSE Arca, Inc. |
| Capital Group Core Plus Income ETF | CGCP | NYSE Arca, Inc. |
| Capital Group High Yield Bond ETF | CGHY | NYSE Arca, Inc. |
| Capital Group International Bond ETF (USD-Hedged) | CGIB | NYSE Arca, Inc. |
| Capital Group Municipal High-Income ETF | CGHM | NYSE Arca, Inc. |
| Capital Group Municipal Income ETF | CGMU | NYSE Arca, Inc. |
| Capital Group Short Duration Income ETF | CGSD | NYSE Arca, Inc. |
| Capital Group Short Duration Municipal Income ETF | CGSM | NYSE Arca, Inc. |
| Capital Group Ultra Short Income ETF | CGUI | NYSE Arca, Inc. |
| Capital Group U.S. Multi-Sector Income ETF | CGMS | NYSE Arca, Inc. |

---

**Table of contents**

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| | |
|:---|:---|
| **Summaries:**<br> Capital Group Core Bond ETF1<br> Capital Group Core Plus Income ETF6<br> Capital Group High Yield Bond ETF11<br> Capital Group International Bond ETF (USD-Hedged)15<br> Capital Group Municipal High-Income ETF20<br> Capital Group Municipal Income ETF24<br> Capital Group Short Duration Income ETF28<br> Capital Group Short Duration Municipal Income ETF33<br> Capital Group Ultra Short Income ETF38<br> Capital Group U.S. Multi-Sector Income ETF43 | Investment objectives, strategies and risks48<br> Management and organization98<br> Shareholder information101<br> Distributions and taxes104<br> Distribution104<br> Other compensation to dealers105<br> Financial highlights106 |

---

**The U.S. Securities and Exchange Commission has not approved or disapproved of these securities. Further, it has not determined that this prospectus is accurate or complete. Any representation to the contrary is a criminal offense.**

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**Capital Group Core Bond ETF**

Investment objective The fund's investment objective is to provide as high a level of current income as is consistent with the preservation of capital.

Fees and expenses of the fund This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.**

**Shareholder fees** **(fees paid directly from your investment)**

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| | |
|:---|:---|
| **Annual fund operating expenses<sup>\*</sup>** **(expenses that you pay each year as a percentage of the net asset value of your investment)** | **Annual fund operating expenses<sup>\*</sup>** **(expenses that you pay each year as a percentage of the net asset value of your investment)** |
| Management fees | 0.27% |
| Other expenses | 0.00 |
| Total annual fund operating expenses | 0.27 |

---

\*The fund's Investment Advisory and Service Agreement provides that the investment adviser will pay all operating expenses of the fund, except for the management fees, interest expenses, taxes, acquired fund fees and expenses, costs of holding shareholder meetings, legal fees and expenses relating to arbitration or litigation, payments under the fund's 12b-1 plan (if any) and other non-routine or extraordinary expenses. Additionally, the fund will be responsible for its non-operating expenses, including brokerage commissions and fees and expenses associated with the fund's securities lending program, if any.

**Example** This example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds.

The example assumes that you invest $10,000 in the fund for the time periods indicated and then sell all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the fund's operating expenses remain the same. No fees are charged by the fund upon the sale of fund shares, so you would incur these hypothetical costs whether or not you were to sell your shares at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

---

| | | | |
|:---|:---|:---|:---|
| 1 year | 3 years | 5 years | 10 years |
| $28 | $87 | $152 | $343 |

---

**Portfolio turnover** The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund's investment results. During the most recent fiscal year, the fund's portfolio turnover rate was 87% of the average value of its portfolio.

Principal investment strategies The fund seeks to maximize your level of current income and preserve your capital by investing primarily in bonds. Normally the fund invests at least 80% of its assets in bonds and other debt securities (such as those described below), which may be represented by derivatives such as futures contracts and swaps. The fund invests in debt securities (excluding derivatives) rated BBB- or better or Baa3 or better by Nationally Recognized Statistical Ratings Organizations designated by the fund's investment adviser, or in debt securities that are unrated but determined to be of equivalent quality by the fund's investment adviser, in each case at the time of purchase. The fund also invests in U.S. government securities, money market instruments, and cash and cash equivalents.

The fund may invest in U.S. government securities such as treasuries which are backed by the full faith and credit of the U.S. government, as well as in debt securities and mortgage-backed securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government.

The fund may invest in inflation-linked bonds issued by U.S. and non-U.S. governments, their agencies or instrumentalities, and corporations. Inflation-linked bonds are structured to protect against inflation by linking the bond's principal and interest payments to an inflation index, such as the Consumer Price Index for Urban Consumers, so that principal and interest adjust to reflect changes in the index.

The fund may invest in futures contracts and swaps, which are types of derivatives. A derivative is a financial contract, the value of which is based on the value of an underlying financial asset (such as a stock, bond or currency), a reference rate or a market index. The fund may also invest in future delivery contracts, including to-be-announced contracts.

The fund is nondiversified, which means it may invest a greater portion of its assets in fewer issuers than would otherwise be the case.

The fund's assets are managed by a team of portfolio managers. Under this approach, the fund's managers work together to oversee the fund's entire portfolio. For more information regarding the investment process of the fund, see the "Management and organization" section of this prospectus.

The fund relies on the professional judgment of its investment adviser to make decisions about the fund's portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good investment opportunities. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.

1&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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Principal risks **This section describes the principal risks associated with investing in the fund. You may lose money by investing in the fund. The likelihood of loss may be greater if you invest for a shorter period of time.** 

*Market conditions* — The prices of, and the income generated by, the securities held by the fund may decline due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; and currency exchange rate, interest rate and commodity price fluctuations.

Economies and financial markets throughout the world are highly interconnected. Events (including public health emergencies, such as the spread of infectious disease), bank failures and other circumstances in one country or region 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 the issuer's financial condition or credit rating, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives and the market response to any such initiatives. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer.

*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 quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of callable debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change 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 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. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund's securities could cause the net asset 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.

*Investing in mortgage-related and other asset-backed securities* — Mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, include debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as consumer loans or receivables. While such securities are subject to the risks associated with investments in debt instruments generally (for example, credit, extension and interest rate risks), they are also subject to other and different risks. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt, potentially increasing the volatility of the securities and the fund's net asset value. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the fund having to reinvest the proceeds in lower yielding securities, effectively reducing the fund's income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the fund's cash available for reinvestment in higher yielding securities. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations and the value of property that secures the mortgages may decline in value and be insufficient, upon foreclosure, to repay the associated loans. Investments in asset-backed securities are subject to similar risks.

*Investing in securities backed by the U.S. government* — U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates and the credit rating of the U.S. government. Notwithstanding that these securities are backed by the full faith and credit of the U.S. government, circumstances could arise that would prevent or delay the payment of interest or principal on these securities, which could adversely affect their value and cause the fund to suffer losses. Such an event could lead to significant disruptions in U.S. and global markets.

Securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government.

*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 or difficult to determine, 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 to try to limit losses, or may be forced to sell at a loss. Depending on

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 2

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market conditions, reduced liquidity of fund holdings may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV.

*Investing outside the United States* — Securities of issuers domiciled outside the United States or with significant operations or revenues outside the United States and securities tied economically to countries outside the United States may lose value because of adverse political, social, economic or market developments in the countries or regions in which the issuers are domiciled, operate or generate revenue or to which the securities are tied economically. 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, 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 United States. Investments outside the United States may also be subject to different accounting practices and different regulatory, legal, auditing, financial reporting and recordkeeping standards and practices, and may be more difficult to value, than those in the United States. In addition, the value of investments outside the United States may be reduced by foreign taxes. Further, there may be increased risks of delayed settlement of securities purchased or sold by the fund, which could impact the liquidity of the fund's portfolio.

*Investments in future delivery contracts* — The fund may enter into transactions involving future delivery contracts, such as to-be-announced (TBA) contracts and mortgage dollar rolls. These contracts involve the purchase or sale of mortgage-backed securities for settlement at a future date and predetermined price. When the fund enters into a TBA commitment for the sale of mortgage-backed securities (which may be referred to as having a short position in such TBA securities), the fund may or may not hold the types of mortgage-backed securities required to be delivered. The fund may choose to roll these transactions in lieu of settling them.

When the fund rolls the purchase of these types of future delivery transactions, the fund simultaneously sells the mortgage-backed securities for delivery in the current month and repurchases substantially similar securities for delivery at a future date at a predetermined price. When the fund rolls the sale of these transactions rather than settling them, the fund simultaneously purchases the mortgage-backed securities for delivery in the current month and sells substantially similar securities for delivery at a future date at a predetermined price. Such roll transactions can increase the turnover rate of the fund and may increase the risk that market prices may move unfavorably between the original and new contracts, potentially resulting in losses or reduced returns for the fund.

*Investing in futures contracts* — In addition to the risks generally associated with investing in derivative instruments, futures contracts are subject to the creditworthiness of the clearing organizations, exchanges and futures commission merchants with which the fund transacts. Additionally, although futures require only a small initial investment in the form of a deposit of initial margin, the amount of a potential loss on a futures contract could greatly exceed the initial amount invested. While futures contracts are generally liquid instruments, under certain market conditions futures may be deemed to be illiquid. For example, the fund may be temporarily prohibited from closing out its position in a futures contract if intraday price change limits or limits on trading volume imposed by the applicable futures exchange are triggered. If the fund is unable to close out a position on a futures contract, the fund would remain subject to the risk of adverse price movements until the fund is able to close out the futures position. The ability of the fund to successfully utilize futures contracts may depend in part upon the ability of the fund's investment adviser to accurately forecast interest rates and other economic factors and to assess and predict the impact of such economic factors on the futures in which the fund invests. If the investment adviser incorrectly forecasts economic developments or incorrectly predicts the impact of such developments on the futures in which it invests, the fund could suffer 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 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 cause the fund to lose significantly more than 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. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

*Interest rate risk* — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. 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. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease

3&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

*Market trading* — The fund shares are listed for trading on an exchange and are bought and sold on the secondary market at market prices. The market prices of fund shares are expected to fluctuate, in some cases materially, in response to changes in the fund's net asset value ("NAV"), the intraday value of the fund's holdings, and supply and demand for the fund shares. The existence of significant market volatility, disruptions to creations and redemptions, or potential lack of an active trading market for fund shares and/or for the holdings of the fund (including through a trading halt), among other factors, may result in the shares trading significantly above (at a premium) or below (at a discount) to NAV and bid-ask spreads may widen. A bid-ask spread is the "spread" or difference between what investors are willing to pay for fund shares (the "bid" price) and the price at which they are willing to sell fund shares (the "ask" price). If you buy fund shares when their market price is at a premium or sell the fund shares when their market price is at a discount, you may pay more than, or receive less than, NAV, respectively.

Foreign securities held by the fund may be traded in markets that close at a different time than the exchange on which the fund's shares are listed. Liquidity in those securities may be reduced after the applicable closing times. Accordingly, during the time when the fund's exchange is open but after the applicable market closing, fixing or settlement times, bid-ask spreads on the fund's exchange and the corresponding premium or discount to the fund's NAV may widen.

*Authorized Participant concentration* — Only Authorized Participants (as defined in the "Shareholder information" section below) may engage in creation or redemption transactions directly with the fund, and none of them is obligated to do so. The fund has a limited number of institutions that may act as Authorized Participants. In addition, to the extent that securities held by the fund are traded outside a collateralized settlement system, Authorized Participants may be required to post collateral on certain trades on an agency basis (on behalf of other market participants), which only a limited number of Authorized Participants may be able to do. If Authorized Participants exit the business or are unable to or elect not to engage in creation or redemption transactions, and no other Authorized Participant engages in such function, fund shares may trade at a premium or discount to the fund's net asset value and/or at wider intraday bid-ask spreads and possibly face trading halts or delisting.

*Nondiversification* — As a nondiversified fund, the fund may invest a greater percentage of its assets in fewer issuers than a diversified fund. A fund that invests in a relatively smaller number of issuers is more susceptible to risks associated with a single economic, political, geographic or regulatory occurrence than a diversified fund might be. In addition, poor performance by a single issuer could adversely affect fund performance more than if the fund were invested in a larger number of issuers. The value of the fund's shares can be expected to fluctuate more than might be the case if the fund were more broadly diversified.

*Cash transactions* — The fund currently expects to effect at least part of its creations and redemptions for cash rather than in-kind securities. When the fund effects redemptions partly or wholly for cash, rather than in-kind, the fund may have to sell portfolio securities at inopportune times in order to obtain the cash needed to meet redemption orders. If the fund realizes gains on these sales, the fund generally will be required to recognize a gain it might not otherwise have recognized, or to recognize such gain sooner than would otherwise be required if it were to distribute portfolio securities in-kind. This strategy may cause shareholders to be subject to tax from distributions to which they would not otherwise be subject. The use of cash creations and redemptions may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV. As a result of such cash transactions, the fund could incur brokerage costs which, to the extent not offset by transaction fees that are payable by an Authorized Participant, may reduce the fund's NAV.

*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.

Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. You should consider how this fund fits into your overall investment program.

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 4

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Investment results The following bar chart shows how the fund's investment results have varied from year to year, and the following table shows how the fund's average annual total returns for various periods compare with a broad measure of securities market results and, if applicable, other measures of market results that reflect the fund's investment universe. This information provides some indication of the risks of investing in the fund. Past investment results (before and after taxes) are not predictive of future investment results. Updated information on the fund's investment results can be obtained by visiting capitalgroup.com/etf.

![](graphicsimage_003.jpg)

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| | | |
|:---|:---|:---|
| **Average annual total returns** **For the periods ended December 31, 2025:** | 1 year | Lifetime |
| Fund (inception date — 9/26/23) | 7.33% | 6.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;- After taxes on distributions | 5.49 | 5.10 |
| &nbsp;&nbsp;&nbsp;&nbsp;- After taxes on distributions and sale of fund shares | 4.31 | 4.50 |

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| | | |
|:---|:---|:---|
| Indexes | 1 year | **Lifetime**<br>**(since fund's<br>inception)** |
| Bloomberg U.S. Aggregate Index (reflects no deduction for sales charges, account fees, expenses or U.S. federal income taxes) | 7.30% | 6.72% |

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After-tax returns are calculated using the highest individual federal income tax rates in effect during each year of the periods shown and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your individual tax situation and likely will differ from the results shown above.

Management

**Investment adviser** Capital Research and Management Company

 **Portfolio managers** The individuals primarily responsible for the portfolio management of the fund are:

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| | | |
|:---|:---|:---|
| **Portfolio manager/**<br>**Fund title (if applicable)** | **Portfolio manager**<br>**in this fund since:** | **Primary title**<br>**with investment adviser** |
| **Pramod Atluri** | 2023 | Partner – Capital Fixed Income Investors |
| **Oliver V. Edmonds** | 2023 | Partner – Capital Fixed Income Investors |
| **Chitrang Purani** President | 2023 | Partner – Capital Fixed Income Investors |

---

Purchase and sale of fund shares The fund is an exchange-traded fund ("ETF"). Individual shares of the fund may only be bought and sold in the secondary market through a broker-dealer at market price. Because ETF shares trade at market prices rather than at NAV, shares may trade at a price greater than NAV (a premium) or less than NAV (a discount). An investor may incur costs attributable to the difference between the highest price a buyer is willing to pay to purchase fund shares (bid) and the lowest price a seller is willing to accept for fund shares (ask) when buying or selling shares in the secondary market (the "bid-ask spread"). Recent information regarding the fund's NAV, market price, premiums and discounts, and bid-ask spread is available at capitalgroup.com/etf.

Tax information Dividends and capital gain distributions you receive from the fund are subject to federal income taxes and may also be subject to state and local taxes, unless you are tax-exempt or your account is tax-favored (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to broker-dealers and other financial intermediaries If you purchase shares of the fund through a broker-dealer or other financial intermediary (such as a bank), the fund's distributor or its affiliates may pay the intermediary for the sale of fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your individual financial professional to recommend the fund over another investment. Ask your individual financial professional or visit your financial intermediary's website for more information.

5&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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**Capital Group Core Plus Income ETF**

Investment objective The fund's investment objective is to provide current income and seek maximum total return, consistent with preservation of capital.

Fees and expenses of the fund This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.**

**Shareholder fees** **(fees paid directly from your investment)**

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| | |
|:---|:---|
| **Annual fund operating expenses\*** **(expenses that you pay each year as a percentage of the net asset value of your investment)** | **Annual fund operating expenses\*** **(expenses that you pay each year as a percentage of the net asset value of your investment)** |
| Management fees | 0.34% |
| Other expenses | 0.00 |
| Total annual fund operating expenses | 0.34 |

---

\*The fund's Investment Advisory and Service Agreement provides that the investment adviser will pay all operating expenses of the fund, except for the management fees, interest expenses, taxes, acquired fund fees and expenses, costs of holding shareholder meetings, legal fees and expenses relating to arbitration or litigation, payments under the fund's 12b-1 plan (if any) and other non-routine or extraordinary expenses. Additionally, the fund will be responsible for its non-operating expenses, including brokerage commissions and fees and expenses associated with the fund's securities lending program, if any.

**Example** This example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds.

The example assumes that you invest $10,000 in the fund for the time periods indicated and then sell all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the fund's operating expenses remain the same. No fees are charged by the fund upon the sale of fund shares, so you would incur these hypothetical costs whether or not you were to sell your shares at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

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| | | | |
|:---|:---|:---|:---|
| 1 year | 3 years | 5 years | 10 years |
| $35 | $109 | $191 | $431 |

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**Portfolio turnover** The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund's investment results. During the most recent fiscal year, the fund's portfolio turnover rate was 299% of the average value of its portfolio.

Principal investment strategies The fund will normally invest at least 80% of its assets in bonds and other debt securities, which may be represented by derivatives. The fund may invest in a broad range of debt securities, including corporate bonds and debt and mortgage- and other asset-backed securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government.

The fund may invest in inflation-linked bonds issued by U.S. and non-U.S. governments, their agencies or instrumentalities, and corporations. Inflation-linked bonds are structured to protect against inflation by linking the bond's principal and interest payments to an inflation index, such as the Consumer Price Index for Urban Consumers, so that principal and interest adjust to reflect changes in the index.

The fund may invest in forward currency contracts, futures contracts and swaps, which are types of derivatives. A derivative is a financial contract, the value of which is based on the value of an underlying financial asset (such as a stock, bond or currency), a reference rate or a market index.

The fund will invest no more than 35% of its assets in lower rated debt instruments, which are securities rated Ba1 or below and BB+ or below by Nationally Recognized Statistical Ratings Organizations designated by the fund's investment adviser, or in securities that are unrated but determined to be of equivalent quality by the fund's investment adviser. Such securities are sometimes referred to as "junk bonds." The fund may invest up to 35% of its assets in securities denominated in currencies other than the U.S. dollar and up to 35% of its assets in securities of emerging market issuers.

The fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies.

The fund's assets are managed by a team of portfolio managers. Under this approach, the fund's managers work together to oversee the fund's entire portfolio. For more information regarding the investment process of the fund, see the "Management and organization" section of this prospectus.

The fund relies on the professional judgment of its investment adviser to make decisions about the fund's portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good investment opportunities. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 6

------

Principal risks **This section describes the principal risks associated with investing in the fund. You may lose money by investing in the fund. The likelihood of loss may be greater if you invest for a shorter period of time.** 

*Market conditions* — The prices of, and the income generated by, the securities held by the fund may decline due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; and currency exchange rate, interest rate and commodity price fluctuations.

Economies and financial markets throughout the world are highly interconnected. Events (including public health emergencies, such as the spread of infectious disease), bank failures and other circumstances in one country or region 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 the issuer's financial condition or credit rating, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives and the market response to any such initiatives. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer.

*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 quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of callable debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change 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 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. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund's securities could cause the net asset 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.

*Investing in lower rated debt instruments* — Lower rated debt securities or instruments, rated Ba1/BB+ or below by Nationally Recognized Statistical Rating Organizations (also known as "junk bonds"), 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.

*Investing in securities backed by the U.S. government* — U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates and the credit rating of the U.S. government. Notwithstanding that these securities are backed by the full faith and credit of the U.S. government, circumstances could arise that would prevent or delay the payment of interest or principal on these securities, which could adversely affect their value and cause the fund to suffer losses. Such an event could lead to significant disruptions in U.S. and global markets.

Securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government.

*Investing in mortgage-related and other asset-backed securities* — Mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, include debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as consumer loans or receivables. While such securities are subject to the risks associated with investments in debt instruments generally (for example, credit, extension and interest rate risks), they are also subject to other and different risks. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt, potentially increasing the volatility of the securities and the fund's net asset value. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the fund having to reinvest the proceeds in lower yielding securities, effectively reducing the fund's income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the fund's cash available for reinvestment in higher yielding securities. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations and the value of property that secures the mortgages may decline in value and be insufficient, upon foreclosure, to repay the associated loans. Investments in asset-backed securities are subject to similar risks.

7&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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*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.

*Investments in future delivery contracts* — The fund may enter into transactions involving future delivery contracts, such as to-be-announced (TBA) contracts and mortgage dollar rolls. These contracts involve the purchase or sale of mortgage-backed securities for settlement at a future date and predetermined price. When the fund enters into a TBA commitment for the sale of mortgage-backed securities (which may be referred to as having a short position in such TBA securities), the fund may or may not hold the types of mortgage-backed securities required to be delivered. The fund may choose to roll these transactions in lieu of settling them.

When the fund rolls the purchase of these types of future delivery transactions, the fund simultaneously sells the mortgage-backed securities for delivery in the current month and repurchases substantially similar securities for delivery at a future date at a predetermined price. When the fund rolls the sale of these transactions rather than settling them, the fund simultaneously purchases the mortgage-backed securities for delivery in the current month and sells substantially similar securities for delivery at a future date at a predetermined price. Such roll transactions can increase the turnover rate of the fund and may increase the risk that market prices may move unfavorably between the original and new contracts, potentially resulting in losses or reduced returns for the 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 cause the fund to lose significantly more than 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. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

*Investing outside the United States* — Securities of issuers domiciled outside the United States or with significant operations or revenues outside the United States and securities tied economically to countries outside the United States may lose value because of adverse political, social, economic or market developments in the countries or regions in which the issuers are domiciled, operate or generate revenue or to which the securities are tied economically. 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, 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 United States. Investments outside the United States may also be subject to different accounting practices and different regulatory, legal, auditing, financial reporting and recordkeeping standards and practices, and may be more difficult to value, than those in the United States. In addition, the value of investments outside the United States may be reduced by foreign taxes. Further, there may be increased risks of delayed settlement of securities purchased or sold by the fund, which could impact the liquidity of the fund's portfolio.

*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 tend to have less developed political, economic and legal systems than those in developed countries. Accordingly, the governments of these countries may be less stable and more likely to intervene in the market economy in a manner that could adversely affect the prices of securities. Information regarding issuers in emerging markets may be limited, incomplete or inaccurate, and such issuers may not be subject to regulatory, accounting, auditing, and financial reporting and recordkeeping standards comparable to those to which issuers in more developed markets are subject. The fund's rights with respect to its investments in emerging markets, if any, will generally be governed by local law, which may make it difficult or impossible for the fund to pursue legal remedies or to obtain and enforce judgments in local courts. In addition, the economies of these countries may be dependent on relatively few industries, may have limited access to capital and may be more susceptible to changes in local and global trade conditions and downturns in the world economy. 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, more vulnerable to market manipulation, and 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.

*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.

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 8

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*Interest rate risk* — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. 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. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

*Portfolio turnover* — The fund may engage in frequent and active trading of its portfolio securities. Higher portfolio turnover may involve correspondingly greater transaction costs in the form of dealer spreads, brokerage commissions and other transaction costs on the sale of securities and on reinvestment in other securities. The sale of portfolio securities may also result in the realization of net capital gains, which are taxable when distributed to shareholders, unless the shareholder is exempt from taxation or his or her account is tax-favored. These costs and tax effects may adversely affect the fund's returns to shareholders. The fund's portfolio turnover rate may vary from year to year, as well as within a year.

*Market trading* — The fund shares are listed for trading on an exchange and are bought and sold on the secondary market at market prices. The market prices of fund shares are expected to fluctuate, in some cases materially, in response to changes in the fund's net asset value ("NAV"), the intraday value of the fund's holdings, and supply and demand for the fund shares. The existence of significant market volatility, disruptions to creations and redemptions, or potential lack of an active trading market for fund shares and/or for the holdings of the fund (including through a trading halt), among other factors, may result in the shares trading significantly above (at a premium) or below (at a discount) to NAV and bid-ask spreads may widen. A bid-ask spread is the "spread" or difference between what investors are willing to pay for fund shares (the "bid" price) and the price at which they are willing to sell fund shares (the "ask" price). If you buy fund shares when their market price is at a premium or sell the fund shares when their market price is at a discount, you may pay more than, or receive less than, NAV, respectively.

Foreign securities held by the fund may be traded in markets that close at a different time than the exchange on which the fund's shares are listed. Liquidity in those securities may be reduced after the applicable closing times. Accordingly, during the time when the fund's exchange is open but after the applicable market closing, fixing or settlement times, bid-ask spreads on the fund's exchange and the corresponding premium or discount to the fund's NAV may widen.

*Authorized Participant concentration* — Only Authorized Participants (as defined in the "Shareholder information" section below) may engage in creation or redemption transactions directly with the fund, and none of them is obligated to do so. The fund has a limited number of institutions that may act as Authorized Participants. In addition, to the extent that securities held by the fund are traded outside a collateralized settlement system, Authorized Participants may be required to post collateral on certain trades on an agency basis (on behalf of other market participants), which only a limited number of Authorized Participants may be able to do. If Authorized Participants exit the business or are unable to or elect not to engage in creation or redemption transactions, and no other Authorized Participant engages in such function, fund shares may trade at a premium or discount to the fund's net asset value and/or at wider intraday bid-ask spreads and possibly face trading halts or delisting.

*Cash transactions* — The fund currently expects to effect at least part of its creations and redemptions for cash rather than in-kind securities. When the fund effects redemptions partly or wholly for cash, rather than in-kind, the fund may have to sell portfolio securities at inopportune times in order to obtain the cash needed to meet redemption orders. If the fund realizes gains on these sales, the fund generally will be required to recognize a gain it might not otherwise have recognized, or to recognize such gain sooner than would otherwise be required if it were to distribute portfolio securities in-kind. This strategy may cause shareholders to be subject to tax from distributions to which they would not otherwise be subject. The use of cash creations and redemptions may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV. As a result of such cash transactions, the fund could incur brokerage costs which, to the extent not offset by transaction fees that are payable by an Authorized Participant, may reduce the fund's NAV.

*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.

Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. You should consider how this fund fits into your overall investment program.

9&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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Investment results The following bar chart shows how the fund's investment results have varied from year to year, and the following table shows how the fund's average annual total returns for various periods compare with a broad measure of securities market results and, if applicable, other measures of market results that reflect the fund's investment universe. This information provides some indication of the risks of investing in the fund. Past investment results (before and after taxes) are not predictive of future investment results. Updated information on the fund's investment results can be obtained by visiting capitalgroup.com/etf.

![](graphicsimage_004.jpg)

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| | | |
|:---|:---|:---|
| **Average annual total returns** **For the periods ended December 31, 2025:** | 1 year | Lifetime |
| Fund (inception date — 2/22/22) | 7.44% | 1.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;- After taxes on distributions | 5.22 | –0.09 |
| &nbsp;&nbsp;&nbsp;&nbsp;- After taxes on distributions and sale of fund shares | 4.37 | 0.55 |

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| | | |
|:---|:---|:---|
| Indexes | 1 year | **Lifetime**<br>**(since fund's<br>inception)** |
| Bloomberg U.S. Aggregate Index (reflects no deduction for sales charges, account fees, expenses or U.S. federal income taxes) | 7.30% | 0.93% |

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After-tax returns are calculated using the highest individual federal income tax rates in effect during each year of the periods shown and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your individual tax situation and likely will differ from the results shown above.

Management

**Investment adviser** Capital Research and Management Company

 **Portfolio managers** The individuals primarily responsible for the portfolio management of the fund are:

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| | | |
|:---|:---|:---|
| **Portfolio manager/**<br>**Fund title (if applicable)** | **Portfolio manager**<br>**in this fund since:** | **Primary title**<br>**with investment adviser** |
| **Xavier Goss** | 2022 | Partner – Capital Fixed Income Investors |
| **David A. Hoag** President | 2022 | Partner – Capital Fixed Income Investors |
| **Damien J. McCann** | 2022 | Partner – Capital Fixed Income Investors |
| **Chitrang Purani** | 2025 | Partner – Capital Fixed Income Investors |

---

Purchase and sale of fund shares The fund is an exchange-traded fund ("ETF"). Individual shares of the fund may only be bought and sold in the secondary market through a broker-dealer at market price. Because ETF shares trade at market prices rather than at NAV, shares may trade at a price greater than NAV (a premium) or less than NAV (a discount). An investor may incur costs attributable to the difference between the highest price a buyer is willing to pay to purchase fund shares (bid) and the lowest price a seller is willing to accept for fund shares (ask) when buying or selling shares in the secondary market (the "bid-ask spread"). Recent information regarding the fund's NAV, market price, premiums and discounts, and bid-ask spread is available at capitalgroup.com/etf.

Tax information Dividends and capital gain distributions you receive from the fund are subject to federal income taxes and may also be subject to state and local taxes, unless you are tax-exempt or your account is tax-favored (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to broker-dealers and other financial intermediaries If you purchase shares of the fund through a broker-dealer or other financial intermediary (such as a bank), the fund's distributor or its affiliates may pay the intermediary for the sale of fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your individual financial professional to recommend the fund over another investment. Ask your individual financial professional or visit your financial intermediary's website for more information.

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 10

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**Capital Group High Yield Bond ETF**

Investment objectives

The fund's investment objective is to provide a high level of current income. Its secondary investment objective is capital appreciation.

Fees and expenses of the fund This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.**

**Shareholder fees** **(fees paid directly from your investment)**

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| | |
|:---|:---|
| **Annual fund operating expenses<sup>1</sup>** **(expenses that you pay each year as a percentage of the net asset value of your investment)** | **Annual fund operating expenses<sup>1</sup>** **(expenses that you pay each year as a percentage of the net asset value of your investment)** |
| Management fees | 0.39% |
| Other expenses<sup>2</sup> | 0.00 |
| Total annual fund operating expenses | 0.39 |

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<sup>1</sup>The fund's Investment Advisory and Service Agreement provides that the investment adviser will pay all operating expenses of the fund, except for the management fees, interest expenses, taxes, acquired fund fees and expenses, costs of holding shareholder meetings, legal fees and expenses relating to arbitration or litigation, payments under the fund's 12b-1 plan (if any) and other non-routine or extraordinary expenses. Additionally, the fund will be responsible for its non-operating expenses, including brokerage commissions and fees and expenses associated with the fund's securities lending program, if any.

<sup>2</sup>Based on estimated amounts for the current fiscal year.

**Example** This example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds.

The example assumes that you invest $10,000 in the fund for the time periods indicated and then sell all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the fund's operating expenses remain the same. No fees are charged by the fund upon the sale of fund shares, so you would incur these hypothetical costs whether or not you were to sell your shares at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

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| | | | |
|:---|:---|:---|:---|
| 1 year | 3 years | 5 years | 10 years |
| $40 | $125 | $219 | $493 |

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**Portfolio turnover** The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund's investment results. During the period from June 24, 2025 (commencement of operations) to the end of the most recent fiscal year, the fund's portfolio turnover rate was 36% of the average value of its portfolio.

Principal investment strategies

The fund invests at least 80% of its assets in higher yielding and generally lower quality bonds and other debt securities (rated Ba1 / BB+ or below by Nationally Recognized Statistical Rating Organizations or unrated but determined by the fund's investment adviser to be of equivalent quality), including corporate loan obligations. Such securities are sometimes referred to as "junk bonds." The fund may also invest a portion of its assets in securities tied economically to countries outside the United States.

The fund may also invest in futures contracts and swaps, which are types of derivatives. A derivative is a financial contract, the value of which is based on the value of an underlying financial asset (such as a stock, bond or currency), a reference rate or a market index. The fund may invest in debt securities of any maturity or duration.

The fund is designed for investors seeking a high level of current income and who are able to tolerate greater credit risk and price fluctuations than those that exist in funds investing in higher quality debt securities.

The fund's assets are managed by a team of portfolio managers. Under this approach, the fund's managers work together to oversee the fund's entire portfolio. For more information regarding the investment process of the fund, see the "Management and organization" section of this prospectus.

The fund relies on the professional judgment of its investment adviser to make decisions about the fund's portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good investment opportunities. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.

11&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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Principal risks **This section describes the principal risks associated with investing in the fund. You may lose money by investing in the fund. The likelihood of loss may be greater if you invest for a shorter period of time.** 

*Market conditions* — The prices of, and the income generated by, the securities held by the fund may decline due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; and currency exchange rate, interest rate and commodity price fluctuations.

Economies and financial markets throughout the world are highly interconnected. Events (including public health emergencies, such as the spread of infectious disease), bank failures and other circumstances in one country or region 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 the issuer's financial condition or credit rating, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives and the market response to any such initiatives. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer.

*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 quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of callable debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change 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 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. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund's securities could cause the net asset 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.

*Investing in lower rated debt instruments* — Lower rated debt securities or instruments, rated Ba1/BB+ or below by Nationally Recognized Statistical Rating Organizations (also known as "junk bonds"), 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.

*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 or difficult to determine, 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 to try to limit losses, or may be forced to sell at a loss. Depending on market conditions, reduced liquidity of fund holdings may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV.

*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 cause the fund to lose significantly more than 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. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

*Interest rate risk* — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. 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

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 12

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securities. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

*Investing outside the United States* — Securities of issuers domiciled outside the United States or with significant operations or revenues outside the United States and securities tied economically to countries outside the United States may lose value because of adverse political, social, economic or market developments in the countries or regions in which the issuers are domiciled, operate or generate revenue or to which the securities are tied economically. 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, 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 United States. Investments outside the United States may also be subject to different accounting practices and different regulatory, legal, auditing, financial reporting and recordkeeping standards and practices, and may be more difficult to value, than those in the United States. In addition, the value of investments outside the United States may be reduced by foreign taxes. Further, there may be increased risks of delayed settlement of securities purchased or sold by the fund, which could impact the liquidity of the fund's portfolio.

*Market trading* — The fund shares are listed for trading on an exchange and are bought and sold on the secondary market at market prices. The market prices of fund shares are expected to fluctuate, in some cases materially, in response to changes in the fund's net asset value ("NAV"), the intraday value of the fund's holdings, and supply and demand for the fund shares. The existence of significant market volatility, disruptions to creations and redemptions, or potential lack of an active trading market for fund shares and/or for the holdings of the fund (including through a trading halt), among other factors, may result in the shares trading significantly above (at a premium) or below (at a discount) to NAV and bid-ask spreads may widen. A bid-ask spread is the "spread" or difference between what investors are willing to pay for fund shares (the "bid" price) and the price at which they are willing to sell fund shares (the "ask" price). If you buy fund shares when their market price is at a premium or sell the fund shares when their market price is at a discount, you may pay more than, or receive less than, NAV, respectively. Foreign securities held by the fund may be traded in markets that close at a different time than the exchange on which the fund's shares are listed. Liquidity in those securities may be reduced after the applicable closing times. Accordingly, during the time when the fund's exchange is open but after the applicable market closing, fixing or settlement times, bid-ask spreads on the fund's exchange and the corresponding premium or discount to the fund's NAV may widen.

*Authorized Participant concentration* — Only Authorized Participants (as defined in the "Shareholder information" section below) may engage in creation or redemption transactions directly with the fund, and none of them is obligated to do so. The fund has a limited number of institutions that may act as Authorized Participants. In addition, to the extent that securities held by the fund are traded outside a collateralized settlement system, Authorized Participants may be required to post collateral on certain trades on an agency basis (on behalf of other market participants), which only a limited number of Authorized Participants may be able to do. If Authorized Participants exit the business or are unable to or elect not to engage in creation or redemption transactions, and no other Authorized Participant engages in such function, fund shares may trade at a premium or discount to the fund's net asset value and/or at wider intraday bid-ask spreads and possibly face trading halts or delisting.

*Cash transactions* — The fund currently expects to effect at least part of its creations and redemptions for cash rather than in-kind securities. When the fund effects redemptions partly or wholly for cash, rather than in-kind, the fund may have to sell portfolio securities at inopportune times in order to obtain the cash needed to meet redemption orders. If the fund realizes gains on these sales, the fund generally will be required to recognize a gain it might not otherwise have recognized, or to recognize such gain sooner than would otherwise be required if it were to distribute portfolio securities in-kind. This strategy may cause shareholders to be subject to tax from distributions to which they would not otherwise be subject. The use of cash creations and redemptions may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV. As a result of such cash transactions, the fund could incur brokerage costs which, to the extent not offset by transaction fees that are payable by an Authorized Participant, may reduce the fund's NAV.

*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.

Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. You should consider how this fund fits into your overall investment program.

Investment results Because the fund has been in operation for less than one full calendar year, information regarding investment results is not available as of the date of this prospectus.

13&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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Management

**Investment adviser** Capital Research and Management Company

 **Portfolio managers** The individuals primarily responsible for the portfolio management of the fund are:

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| | | |
|:---|:---|:---|
| **Portfolio manager/**<br>**Fund title (if applicable)** | **Portfolio manager**<br>**in this fund since:** | **Primary title**<br>**with investment adviser** |
| **Tom Chow** President | 2025 | Partner – Capital Fixed Income Investors |
| **Andy Moth** | 2025 | Partner – Capital Fixed Income Investors |
| **Shannon Ward** | 2025 | Partner – Capital Fixed Income Investors |

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Purchase and sale of fund shares

The fund is an exchange-traded fund ("ETF"). Individual shares of the fund may only be bought and sold in the secondary market through a broker-dealer at market price. Because ETF shares trade at market prices rather than at NAV, shares may trade at a price greater than NAV (a premium) or less than NAV (a discount). An investor may incur costs attributable to the difference between the highest price a buyer is willing to pay to purchase fund shares (bid) and the lowest price a seller is willing to accept for fund shares (ask) when buying or selling shares in the secondary market (the "bid-ask spread"). Recent information regarding the fund's NAV, market price, premiums and discounts, and bid-ask spread is available at capitalgroup.com/etf.

Tax information Dividends and capital gain distributions you receive from the fund are subject to federal income taxes and may also be subject to state and local taxes, unless you are tax-exempt or your account is tax-favored (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to broker-dealers and other financial intermediaries If you purchase shares of the fund through a broker-dealer or other financial intermediary (such as a bank), the fund's distributor or its affiliates may pay the intermediary for the sale of fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your individual financial professional to recommend the fund over another investment. Ask your individual financial professional or visit your financial intermediary's website for more information.

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 14

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**Capital Group International Bond ETF (USD-Hedged)**

Investment objective The fund's investment objective is to provide a high level of current income as is consistent with the preservation of capital.

Fees and expenses of the fund This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.**

**Shareholder fees** **(fees paid directly from your investment)**

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| | |
|:---|:---|
| **Annual fund operating expenses<sup>\*</sup>** **(expenses that you pay each year as a percentage of the net asset value of your investment)** | **Annual fund operating expenses<sup>\*</sup>** **(expenses that you pay each year as a percentage of the net asset value of your investment)** |
| Management fees | 0.45% |
| Other expenses | 0.00 |
| Total annual fund operating expenses | 0.45 |

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\*The fund's Investment Advisory and Service Agreement provides that the investment adviser will pay all operating expenses of the fund, except for the management fees, interest expenses, taxes, acquired fund fees and expenses, costs of holding shareholder meetings, legal fees and expenses relating to arbitration or litigation, payments under the fund's 12b-1 plan (if any) and other non-routine or extraordinary expenses. Additionally, the fund will be responsible for its non-operating expenses, including brokerage commissions and fees and expenses associated with the fund's securities lending program, if any.

**Example** This example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds.

The example assumes that you invest $10,000 in the fund for the time periods indicated and then sell all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the fund's operating expenses remain the same. No fees are charged by the fund upon the sale of fund shares, so you would incur these hypothetical costs whether or not you were to sell your shares at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

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| | | | |
|:---|:---|:---|:---|
| 1 year | 3 years | 5 years | 10 years |
| $46 | $144 | $252 | $567 |

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**Portfolio turnover** The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund's investment results. During the most recent fiscal year, the fund's portfolio turnover rate was 188% of the average value of its portfolio.

Principal investment strategies The fund seeks to maximize your level of current income and preserve your capital by investing primarily in bonds. The fund will invest at least 80% of its assets in bonds and other debt securities (such as those described below), which may be represented by derivatives. Under normal market conditions, the fund will invest at least 40% of its assets outside the United States, unless market conditions are not deemed favorable by the fund's investment adviser, in which case the fund would invest at least 30% of its assets outside the United States. The fund allocates its assets among various countries, and in no fewer than three countries other than the United States.

The fund may invest up to 15% of its assets in debt securities rated BB+ or below or Ba1 or below by Nationally Recognized Statistical Ratings Organizations designated by the fund's investment adviser, or in debt securities that are unrated but determined to be of equivalent quality by the fund's investment adviser. Securities rated BB+ or below or Ba1 or below are sometimes referred to as "junk bonds." The fund also invests in U.S. government securities, money market instruments, and cash and cash equivalents.

The fund may invest in forward currency contracts, futures contracts and swaps, which are types of derivatives. A derivative is a financial contract, the value of which is based on the value of an underlying financial asset (such as a stock, bond or currency), a reference rate or a market index. The fund seeks to hedge all, or substantially all, of the fund's foreign currency exposure using forward currency contracts, such that under normal market conditions, the fund will maintain at least 90% of its assets in U.S. dollar currency exposure. The use of these derivative transactions may allow the fund to obtain net long or net negative (short) exposure to selected currencies.

The fund may invest in a broad range of debt securities, including corporate bonds and debt securities issued by sovereign, quasi-sovereign and supranational entities. The fund may also invest in mortgage-backed securities issued by government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government and other asset-backed securities, including debt obligations that represent interests in pools of mortgages or other income bearing assets, such as consumer loans or receivables.

The fund is nondiversified, which means it may invest a greater portion of its assets in fewer issuers than would otherwise be the case.

The fund's assets are managed by a team of portfolio managers. Under this approach, the fund's managers work together to oversee the fund's entire portfolio. For more information regarding the investment process of the fund, see the "Management and organization" section of this prospectus.

The fund relies on the professional judgment of its investment adviser to make decisions about the fund's portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good investment opportunities. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.

15&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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Principal risks **This section describes the principal risks associated with investing in the fund. You may lose money by investing in the fund. The likelihood of loss may be greater if you invest for a shorter period of time.** 

*Market conditions* — The prices of, and the income generated by, the securities held by the fund may decline due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; and currency exchange rate, interest rate and commodity price fluctuations.

Economies and financial markets throughout the world are highly interconnected. Events (including public health emergencies, such as the spread of infectious disease), bank failures and other circumstances in one country or region 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 the issuer's financial condition or credit rating, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives and the market response to any such initiatives. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer.

*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 quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of callable debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change 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 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. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund's securities could cause the net asset 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.

*Investing outside the United States* — Securities of issuers domiciled outside the United States or with significant operations or revenues outside the United States and securities tied economically to countries outside the United States may lose value because of adverse political, social, economic or market developments in the countries or regions in which the issuers are domiciled, operate or generate revenue or to which the securities are tied economically. 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, 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 United States. Investments outside the United States may also be subject to different accounting practices and different regulatory, legal, auditing, financial reporting and recordkeeping standards and practices, and may be more difficult to value, than those in the United States. In addition, the value of investments outside the United States may be reduced by foreign taxes. Further, there may be increased risks of delayed settlement of securities purchased or sold by the fund, which could impact the liquidity of the fund's portfolio.

*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 cause the fund to lose significantly more than 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. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

*Currency transactions* — In addition to the risks generally associated with investing in derivative instruments, the use of forward currency contracts involves the risk that currency movements will not be accurately predicted by the investment adviser, which could result in losses to the fund. While entering into forward currency contracts could minimize the risk of loss due to a decline in the value of the hedged currency, it could also limit any potential gain that may result from an increase in the value of the currency. Additionally, the adviser may use forward currency contracts to increase exposure to a certain currency or to shift exposure to currency fluctuations from one country to another. Forward currency contracts may expose the fund to potential gains and losses in excess of the initial amount invested.

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 16

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*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.

*Currency hedging risk* — The fund's use of forward currency contracts to hedge all or substantially all of the fund's foreign currency exposure could result in losses to the fund if currencies do not perform as expected. In addition, the reduction of the fund's exposure to currency risks limits the fund's ability to benefit from favorable changes in currency exchange rates. Currency markets generally are not as regulated as securities markets, and currency rates may experience volatility, which can reduce the fund's returns.

The fund's use of forward currency contracts to hedge all or substantially all of the fund's foreign currency exposure is intended to minimize the impact of currency fluctuations on fund returns; however, this strategy will not eliminate the fund's exposure to currency risk. The use of forward currency contracts will not entirely offset the fluctuations between the fund's exposure to non-U.S. currencies and the U.S. dollar. Additionally, there are transaction costs the fund will incur to hedge its foreign currency exposure. The fund's exposure to foreign currencies may not be hedged at all times, including at times when the fund is implementing a currency hedging transaction. Volatility of the U.S. dollar relative to the currencies being hedged will generally reduce the effectiveness of the fund's currency hedging transactions. Differences between U.S. dollar interest rates and foreign currency interest rates may also impact the effectiveness of the fund's currency hedging transactions.

*Investing in lower rated debt instruments* — Lower rated debt securities or instruments, rated Ba1/BB+ or below by Nationally Recognized Statistical Rating Organizations (also known as "junk bonds"), 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. Investments in junk bonds can be considered speculative.

*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 or difficult to determine, 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 to try to limit losses, or may be forced to sell at a loss. Depending on market conditions, reduced liquidity of fund holdings may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV.

*Investing in mortgage-related and other asset-backed securities* — Mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, include debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as consumer loans or receivables. While such securities are subject to the risks associated with investments in debt instruments generally (for example, credit, extension and interest rate risks), they are also subject to other and different risks. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt, potentially increasing the volatility of the securities and the fund's net asset value. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the fund having to reinvest the proceeds in lower yielding securities, effectively reducing the fund's income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the fund's cash available for reinvestment in higher yielding securities. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations and the value of property that secures the mortgages may decline in value and be insufficient, upon foreclosure, to repay the associated loans. Investments in asset-backed securities are subject to similar risks.

*Investing in debt securities of sovereign, quasi-sovereign and supranational entities* — While debt securities of sovereign, quasi-sovereign and supranational entities are subject to the risks associated with investments in debt instruments or foreign securities generally, they are also subject to other and different risks. A governmental or quasi-governmental entity may be unwilling or unable to pay interest and repay principal on its sovereign or quasi-sovereign debt, or otherwise meet its obligations when due, including for reasons such as the government's policy towards principal international lenders such as the International Monetary Fund or the political considerations to which the government may be subject. If such issuers default (or threaten to default), the indebtedness may be restructured and/or a moratorium on the payments of such indebtedness may be declared, in each case, without the approval of some or all debt holders. In the event of a default on sovereign or quasi-sovereign debt, the fund may also have limited legal recourse against the defaulting government entity.

A "supranational entity" is an entity established or financially supported by the governments of several countries to promote reconstruction, economic development or trade (for example, the World Bank). Generally, the governmental members of these entities make initial capital contributions to and may also commit to making additional contributions if the supranational entity is unable to repay its borrowings. There is no guarantee that one or more governmental members of a supranational entity will continue to make any necessary additional capital contributions, and if such contributions are not made, the entity may be unable to pay interest or repay principal on its debt securities.

*Interest rate risk* — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. 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. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease

17&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

*Market trading* — The fund shares are listed for trading on an exchange and are bought and sold on the secondary market at market prices. The market prices of fund shares are expected to fluctuate, in some cases materially, in response to changes in the fund's net asset value ("NAV"), the intraday value of the fund's holdings, and supply and demand for the fund shares. The existence of significant market volatility, disruptions to creations and redemptions, or potential lack of an active trading market for fund shares and/or for the holdings of the fund (including through a trading halt), among other factors, may result in the shares trading significantly above (at a premium) or below (at a discount) to NAV and bid-ask spreads may widen. A bid-ask spread is the "spread" or difference between what investors are willing to pay for fund shares (the "bid" price) and the price at which they are willing to sell fund shares (the "ask" price). If you buy fund shares when their market price is at a premium or sell the fund shares when their market price is at a discount, you may pay more than, or receive less than, NAV, respectively.Foreign securities held by the fund may be traded in markets that close at a different time than the exchange on which the fund's shares are listed. Liquidity in those securities may be reduced after the applicable closing times. Accordingly, during the time when the fund's exchange is open but after the applicable market closing, fixing or settlement times, bid-ask spreads on the fund's exchange and the corresponding premium or discount to the fund's NAV may widen.

*Authorized Participant concentration* — Only Authorized Participants (as defined in the "Shareholder information" section below) may engage in creation or redemption transactions directly with the fund, and none of them is obligated to do so. The fund has a limited number of institutions that may act as Authorized Participants. In addition, to the extent that securities held by the fund are traded outside a collateralized settlement system, Authorized Participants may be required to post collateral on certain trades on an agency basis (on behalf of other market participants), which only a limited number of Authorized Participants may be able to do. If Authorized Participants exit the business or are unable to or elect not to engage in creation or redemption transactions, and no other Authorized Participant engages in such function, fund shares may trade at a premium or discount to the fund's net asset value and/or at wider intraday bid-ask spreads and possibly face trading halts or delisting.

*Nondiversification* — As a nondiversified fund, the fund may invest a greater percentage of its assets in fewer issuers than a diversified fund. A fund that invests in a relatively smaller number of issuers is more susceptible to risks associated with a single economic, political, geographic or regulatory occurrence than a diversified fund might be. In addition, poor performance by a single issuer could adversely affect fund performance more than if the fund were invested in a larger number of issuers. The value of the fund's shares can be expected to fluctuate more than might be the case if the fund were more broadly diversified.

*Cash transactions* — The fund currently expects to effect at least part of its creations and redemptions for cash rather than in-kind securities. When the fund effects redemptions partly or wholly for cash, rather than in-kind, the fund may have to sell portfolio securities at inopportune times in order to obtain the cash needed to meet redemption orders. If the fund realizes gains on these sales, the fund generally will be required to recognize a gain it might not otherwise have recognized, or to recognize such gain sooner than would otherwise be required if it were to distribute portfolio securities in-kind. This strategy may cause shareholders to be subject to tax from distributions to which they would not otherwise be subject. The use of cash creations and redemptions may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV. As a result of such cash transactions, the fund could incur brokerage costs which, to the extent not offset by transaction fees that are payable by an Authorized Participant, may reduce the fund's NAV.

*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.

Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. You should consider how this fund fits into your overall investment program.

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 18

------

Investment results The following bar chart shows the fund's investment results for its first full calendar year of operations, and the following table shows how the fund's average annual total returns for various periods compare with a broad measure of securities market results and, if applicable, other measures of market results that reflect the fund's investment universe. This information provides some indication of the risks of investing in the fund. Past investment results (before and after taxes) are not predictive of future investment results. Updated information on the fund's investment results can be obtained by visiting capitalgroup.com/etf.

![](graphicsimage_005.jpg)

---

| | | |
|:---|:---|:---|
| **Average annual total returns** **For the periods ended December 31, 2025:** | 1 year | Lifetime |
| Fund (inception date — 6/25/24) | 4.53% | 4.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;- After taxes on distributions | 2.80 | 3.26 |
| &nbsp;&nbsp;&nbsp;&nbsp;- After taxes on distributions and sale of fund shares | 2.71 | 3.06 |

---

---

| | | |
|:---|:---|:---|
| Indexes | 1 year | **Lifetime**<br>**(since fund's<br>inception)** |
| Bloomberg U.S. Aggregate Index (reflects no deduction for sales charges, account fees, expenses or U.S. federal income taxes) | 7.30% | 5.59% |
| Bloomberg Global Aggregate ex-USD (USD Hedged) Index (reflects no deduction for sales charges, account fees, expenses or U.S. federal income taxes) | 2.80 | 4.47 |

---

After-tax returns are calculated using the highest individual federal income tax rates in effect during each year of the periods shown and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your individual tax situation and likely will differ from the results shown above.

Management

**Investment adviser** Capital Research and Management Company

 **Portfolio managers** The individuals primarily responsible for the portfolio management of the fund are:

---

| | | |
|:---|:---|:---|
| **Portfolio manager/**<br>**Fund title (if applicable)** | **Portfolio manager**<br>**in this fund since:** | **Primary title**<br>**with investment adviser** |
| **Philip Chitty** | 2024 | Partner – Capital Fixed Income Investors |
| **Andrew A. Cormack** | 2024 | Partner – Capital Fixed Income Investors |
| **Thomas Reithinger** President | 2024 | Partner – Capital Fixed Income Investors |

---

Purchase and sale of fund shares The fund is an exchange-traded fund ("ETF"). Individual shares of the fund may only be bought and sold in the secondary market through a broker-dealer at market price. Because ETF shares trade at market prices rather than at NAV, shares may trade at a price greater than NAV (a premium) or less than NAV (a discount). An investor may incur costs attributable to the difference between the highest price a buyer is willing to pay to purchase fund shares (bid) and the lowest price a seller is willing to accept for fund shares (ask) when buying or selling shares in the secondary market (the "bid-ask spread"). Recent information regarding the fund's NAV, market price, premiums and discounts, and bid-ask spread is available at capitalgroup.com/etf.

Tax information Dividends and capital gain distributions you receive from the fund are subject to federal income taxes and may also be subject to state and local taxes, unless you are tax-exempt or your account is tax-favored (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to broker-dealers and other financial intermediaries If you purchase shares of the fund through a broker-dealer or other financial intermediary (such as a bank), the fund's distributor or its affiliates may pay the intermediary for the sale of fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your individual financial professional to recommend the fund over another investment. Ask your individual financial professional or visit your financial intermediary's website for more information.

19&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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**Capital Group Municipal High-Income ETF**

Investment objective The fund's investment objective is to provide a high level of current income exempt from regular federal income tax.

Fees and expenses of the fund This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the fund.**You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.**

**Shareholder fees** **(fees paid directly from your investment)**

---

| | |
|:---|:---|
| **Annual fund operating expenses<sup>\*</sup>** **(expenses that you pay each year as a percentage of the net asset value of your investment)** | **Annual fund operating expenses<sup>\*</sup>** **(expenses that you pay each year as a percentage of the net asset value of your investment)** |
| Management fees | 0.34% |
| Other expenses | 0.00 |
| Total annual fund operating expenses | 0.34 |

---

\*The fund's Investment Advisory and Service Agreement provides that the investment adviser will pay all operating expenses of the fund, except for the management fees, interest expenses, taxes, acquired fund fees and expenses, costs of holding shareholder meetings, legal fees and expenses relating to arbitration or litigation, payments under the fund's 12b-1 plan (if any) and other non-routine or extraordinary expenses. Additionally, the fund will be responsible for its non-operating expenses, including brokerage commissions and fees and expenses associated with the fund's securities lending program, if any.

**Example** This example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds.

The example assumes that you invest $10,000 in the fund for the time periods indicated and then sell all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the fund's operating expenses remain the same. No fees are charged by the fund upon the sale of fund shares, so you would incur these hypothetical costs whether or not you were to sell your shares at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

---

| | | | |
|:---|:---|:---|:---|
| 1 year | 3 years | 5 years | 10 years |
| $35 | $109 | $191 | $431 |

---

**Portfolio turnover** The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund's investment results. During the most recent fiscal year, the fund's portfolio turnover rate was 15% of the average value of its portfolio.

Principal investment strategies In seeking to achieve its objective, the fund may accept risks to capital value deemed prudent by the fund's investment adviser to take advantage of opportunities for higher current income on municipal bonds. Municipal bonds are debt obligations that pay interest that is exempt from federal taxation, with payments made from a wide variety of sources, including governmental revenue streams and private enterprises.

Under normal circumstances, the fund will invest at least 80% of its assets in, or derive at least 80% of its income from, securities that are exempt from regular federal income tax. The fund may invest, without limitation, in "private activity bonds" whose interest is generally subject to the federal alternative minimum tax. The fund invests at least 60% of its portfolio in debt securities rated BBB+ or below or Baa1 or below by Nationally Recognized Statistical Rating Organizations designated by the fund's investment adviser, or unrated but determined by the fund's investment adviser to be of equivalent quality. Securities rated BB+ or below or Ba1 or below are sometimes referred to as "junk bonds."

The fund's assets are managed by a team of portfolio managers. Under this approach, the fund's managers work together to oversee the fund's entire portfolio. For more information regarding the investment process of the fund, see the "Management and organization" section of this prospectus.

The fund relies on the professional judgment of its investment adviser to make decisions about the fund's portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good investment opportunities. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 20

------

Principal risks **This section describes the principal risks associated with investing in the fund. You may lose money by investing in the fund. The likelihood of loss may be greater if you invest for a shorter period of time.** 

*Market conditions* — The prices of, and the income generated by, the securities held by the fund may decline due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; and currency exchange rate, interest rate and commodity price fluctuations.

Economies and financial markets throughout the world are highly interconnected. Events (including public health emergencies, such as the spread of infectious disease), bank failures and other circumstances in one country or region 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 the issuer's financial condition or credit rating, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives and the market response to any such initiatives. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer.

*Investing in municipal securities* — Municipal securities are debt obligations that are exempt from federal, state and/or local income taxes. The yield and/or value of the fund's investments in municipal securities may be adversely affected by events tied to the municipal securities markets, which can be very volatile and significantly impacted by unfavorable legislative or political developments and negative changes in the financial conditions of municipal securities issuers and the economy. To the extent the fund invests in obligations of a municipal issuer, the volatility, credit quality and performance of the fund may be adversely impacted by local political and economic conditions of the issuer. For example, a credit rating downgrade, bond default or bankruptcy involving an issuer within a particular state or territory could affect the market values and marketability of many or all municipal obligations of that state or territory. Income from municipal securities held by the fund could also be declared taxable because of changes in tax laws or interpretations by taxing authorities or as a result of noncompliant conduct of a municipal issuer. Additionally, the relative amount of publicly available information about municipal securities is generally less than that for corporate securities.

*Alternative minimum tax* — The fund may invest in securities, including in "private activity bonds," that may subject you to federal alternative minimum tax. Therefore, while the fund's distributions from tax-exempt securities are not subject to regular federal income tax, a portion or all of the distributions may be included in determining a shareholder's federal alternative minimum tax.

*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 quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of callable debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change 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 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. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund's securities could cause the net asset 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.

*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 or difficult to determine, 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 to try to limit losses, or may be forced to sell at a loss. Depending on market conditions, reduced liquidity of fund holdings may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV.

*Credit and liquidity support* — Changes in the credit quality of banks and financial institutions providing credit and liquidity support features with respect to securities held by the fund could cause the values of these securities to decline.

*Investing in lower rated debt instruments* — Lower rated debt securities or instruments, rated Ba1/BB+ or below by Nationally Recognized Statistical Rating Organizations (also known as "junk bonds"), 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

21&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

------

difficulty. These risks may be increased with respect to investments in junk bonds. Investments in junk bonds can be considered speculative.

*Investing in similar municipal bonds* — Investing significantly in municipal obligations of multiple issuers in the same state or backed by revenues of similar types of projects or industries may make the fund more susceptible to certain economic, political or regulatory occurrences. As a result, the fund has greater risk of volatility, and greater risk of loss, from these investments.

*Interest rate risk* — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. 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. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

*Market trading* — The fund shares are listed for trading on an exchange and are bought and sold on the secondary market at market prices. The market prices of fund shares are expected to fluctuate, in some cases materially, in response to changes in the fund's net asset value ("NAV"), the intraday value of the fund's holdings, and supply and demand for the fund shares. The existence of significant market volatility, disruptions to creations and redemptions, or potential lack of an active trading market for fund shares and/or for the holdings of the fund (including through a trading halt), among other factors, may result in the shares trading significantly above (at a premium) or below (at a discount) to NAV and bid-ask spreads may widen. A bid-ask spread is the "spread" or difference between what investors are willing to pay for fund shares (the "bid" price) and the price at which they are willing to sell fund shares (the "ask" price). If you buy fund shares when their market price is at a premium or sell the fund shares when their market price is at a discount, you may pay more than, or receive less than, NAV, respectively.

*Authorized Participant concentration* — Only Authorized Participants (as defined in the "Shareholder information" section below) may engage in creation or redemption transactions directly with the fund, and none of them is obligated to do so. The fund has a limited number of institutions that may act as Authorized Participants. In addition, to the extent that securities held by the fund are traded outside a collateralized settlement system, Authorized Participants may be required to post collateral on certain trades on an agency basis (on behalf of other market participants), which only a limited number of Authorized Participants may be able to do. If Authorized Participants exit the business or are unable to or elect not to engage in creation or redemption transactions, and no other Authorized Participant engages in such function, fund shares may trade at a premium or discount to the fund's net asset value and/or at wider intraday bid-ask spreads and possibly face trading halts or delisting.

*Cash transactions* — The fund currently expects to effect at least part of its creations and redemptions for cash rather than in-kind securities. When the fund effects redemptions partly or wholly for cash, rather than in-kind, the fund may have to sell portfolio securities at inopportune times in order to obtain the cash needed to meet redemption orders. If the fund realizes gains on these sales, the fund generally will be required to recognize a gain it might not otherwise have recognized, or to recognize such gain sooner than would otherwise be required if it were to distribute portfolio securities in-kind. This strategy may cause shareholders to be subject to tax from distributions to which they would not otherwise be subject. The use of cash creations and redemptions may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV. As a result of such cash transactions, the fund could incur brokerage costs which, to the extent not offset by transaction fees that are payable by an Authorized Participant, may reduce the fund's NAV.

*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.

Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. You should consider how this fund fits into your overall investment program.

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 22

------

Investment results The following bar chart shows the fund's investment results for its first full calendar year of operations, and the following table shows how the fund's average annual total returns for various periods compare with a broad measure of securities market results and, if applicable, other measures of market results that reflect the fund's investment universe. This information provides some indication of the risks of investing in the fund. Past investment results (before and after taxes) are not predictive of future investment results. Updated information on the fund's investment results can be obtained by visiting capitalgroup.com/etf.

![](graphicsimage_006.jpg)

---

| | | |
|:---|:---|:---|
| **Average annual total returns** **For the periods ended December 31, 2025:** | 1 year | Lifetime |
| Fund (inception date — 6/25/24) | 4.40% | 4.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;- After taxes on distributions | 4.40 | 4.74 |
| &nbsp;&nbsp;&nbsp;&nbsp;- After taxes on distributions and sale of fund shares | 4.12 | 4.48 |

---

---

| | | |
|:---|:---|:---|
| Indexes | 1 year | **Lifetime**<br>**(since fund's<br>inception)** |
| Bloomberg Municipal Bond Index (reflects no deductions for sales charges, account fees, expenses or U.S. federal income taxes) | 4.25% | 3.63% |
| 70%/20%/10% Bloomberg Muni HY Index/Bloomberg Muni BBB Index/Bloomberg Muni Bond Index (reflects no deductions for sales charges, account fees, expenses or U.S. federal income taxes) | 3.36 | 3.45 |

---

After-tax returns are calculated using the highest individual federal income tax rates in effect during each year of the periods shown and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your individual tax situation and likely will differ from the results shown above.

Management

**Investment adviser** Capital Research and Management Company

 **Portfolio managers** The individuals primarily responsible for the portfolio management of the fund are:

---

| | | |
|:---|:---|:---|
| **Portfolio manager/**<br>**Fund title (if applicable)** | **Portfolio manager**<br>**in this fund since:** | **Primary title**<br>**with investment adviser** |
| **Lee Chu** | 2025 | Partner – Capital Fixed Income Investors |
| **Chad M. Rach** President | 2024 | Partner – Capital Fixed Income Investors |
| **Jerome Solomon** | 2024 | Partner – Capital Fixed Income Investors |

---

Purchase and sale of fund shares The fund is an exchange-traded fund ("ETF"). Individual shares of the fund may only be bought and sold in the secondary market through a broker-dealer at market price. Because ETF shares trade at market prices rather than at NAV, shares may trade at a price greater than NAV (a premium) or less than NAV (a discount). An investor may incur costs attributable to the difference between the highest price a buyer is willing to pay to purchase fund shares (bid) and the lowest price a seller is willing to accept for fund shares (ask) when buying or selling shares in the secondary market (the "bid-ask spread"). Recent information regarding the fund's NAV, market price, premiums and discounts, and bid-ask spread is available at capitalgroup.com/etf.

Tax information Fund distributions of interest on municipal bonds are generally not subject to federal income tax. However, the fund may distribute taxable dividends, including distributions of short-term capital gains, which are subject to federal taxation as ordinary income. Interest on certain bonds may be subject to federal alternative minimum tax. The fund's distributions of net long-term capital gains are taxable as long-term capital gains for federal income tax purposes.

Payments to broker-dealers and other financial intermediaries If you purchase shares of the fund through a broker-dealer or other financial intermediary (such as a bank), the fund's distributor or its affiliates may pay the intermediary for the sale of fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your individual financial professional to recommend the fund over another investment. Ask your individual financial professional or visit your financial intermediary's website for more information.

23&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

------

**Capital Group Municipal Income ETF**

Investment objective The fund's investment objective is to provide a high level of current income exempt from regular federal income tax, consistent with the preservation of capital.

Fees and expenses of the fund This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.**

**Shareholder fees** **(fees paid directly from your investment)**

---

| | |
|:---|:---|
| **Annual fund operating expenses\*** **(expenses that you pay each year as a percentage of the net asset value of your investment)** | **Annual fund operating expenses\*** **(expenses that you pay each year as a percentage of the net asset value of your investment)** |
| Management fees | 0.27% |
| Other expenses | 0.00 |
| Total annual fund operating expenses | 0.27 |

---

\*The fund's Investment Advisory and Service Agreement provides that the investment adviser will pay all operating expenses of the fund, except for the management fees, interest expenses, taxes, acquired fund fees and expenses, costs of holding shareholder meetings, legal fees and expenses relating to arbitration or litigation, payments under the fund's 12b-1 plan (if any) and other non-routine or extraordinary expenses. Additionally, the fund will be responsible for its non-operating expenses, including brokerage commissions and fees and expenses associated with the fund's securities lending program, if any.

**Example** This example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds.

The example assumes that you invest $10,000 in the fund for the time periods indicated and then sell all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the fund's operating expenses remain the same. No fees are charged by the fund upon the sale of fund shares, so you would incur these hypothetical costs whether or not you were to sell your shares at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

---

| | | | |
|:---|:---|:---|:---|
| 1 year | 3 years | 5 years | 10 years |
| $28 | $87 | $152 | $343 |

---

**Portfolio turnover** The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund's investment results. During the most recent fiscal year, the fund's portfolio turnover rate was 26% of the average value of its portfolio.

Principal investment strategies In seeking to achieve its objective, the fund may accept risks to capital value deemed prudent by the fund's investment adviser to take advantage of opportunities for higher current income on municipal bonds. Municipal bonds are debt obligations that pay interest that is exempt from federal income taxation, with payments made from a wide variety of sources, including governmental revenue streams and private enterprises.

The fund invests primarily in bonds and other debt instruments. The fund will normally invest at least 80% of its assets in, or derive at least 80% of its income from, securities that are exempt from regular federal income tax. The fund will invest up to 30% of its assets in securities that may subject you to federal alternative minimum tax. The fund invests at least 65% in debt securities rated BBB- or better or Baa3 or better by Nationally Recognized Statistical Rating Organizations designated by the fund's investment adviser, or unrated but determined by the fund's investment adviser to be of equivalent quality. The fund may also invest in debt securities rated BB+ or below and Ba1 or below by Nationally Recognized Statistical Rating Organizations designated by the fund's investment adviser, or unrated but determined by the fund's investment adviser to be of equivalent quality. Securities rated BB+ or below and Ba1 or below are sometimes referred to as "junk bonds." The fund may invest in debt securities of any maturity or duration.

The fund's assets are managed by a team of portfolio managers. Under this approach, the fund's managers work together to oversee the fund's entire portfolio. For more information regarding the investment process of the fund, see the "Management and organization" section of this prospectus.

The fund relies on the professional judgment of its investment adviser to make decisions about the fund's portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good investment opportunities. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 24

------

Principal risks **This section describes the principal risks associated with investing in the fund. You may lose money by investing in the fund. The likelihood of loss may be greater if you invest for a shorter period of time.** 

*Market conditions* — The prices of, and the income generated by, the securities held by the fund may decline due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; and currency exchange rate, interest rate and commodity price fluctuations.

Economies and financial markets throughout the world are highly interconnected. Events (including public health emergencies, such as the spread of infectious disease), bank failures and other circumstances in one country or region 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 the issuer's financial condition or credit rating, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives and the market response to any such initiatives. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer.

*Investing in municipal securities* — Municipal securities are debt obligations that are exempt from federal, state and/or local income taxes. The yield and/or value of the fund's investments in municipal securities may be adversely affected by events tied to the municipal securities markets, which can be very volatile and significantly impacted by unfavorable legislative or political developments and negative changes in the financial conditions of municipal securities issuers and the economy. To the extent the fund invests in obligations of a municipal issuer, the volatility, credit quality and performance of the fund may be adversely impacted by local political and economic conditions of the issuer. For example, a credit rating downgrade, bond default or bankruptcy involving an issuer within a particular state or territory could affect the market values and marketability of many or all municipal obligations of that state or territory. Income from municipal securities held by the fund could also be declared taxable because of changes in tax laws or interpretations by taxing authorities or as a result of noncompliant conduct of a municipal issuer. Additionally, the relative amount of publicly available information about municipal securities is generally less than that for corporate securities.

*Alternative minimum tax* — The fund may invest in securities, including in "private activity bonds," that may subject you to federal alternative minimum tax. Therefore, while the fund's distributions from tax-exempt securities are not subject to regular federal income tax, a portion or all of the distributions may be included in determining a shareholder's federal alternative minimum tax.

*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 quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of callable debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change 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 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. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund's securities could cause the net asset 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.

*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 or difficult to determine, 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 to try to limit losses, or may be forced to sell at a loss. Depending on market conditions, reduced liquidity of fund holdings may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV.

*Credit and liquidity support* — Changes in the credit quality of banks and financial institutions providing credit and liquidity support features with respect to securities held by the fund could cause the values of these securities to decline.

*Investing in lower rated debt instruments* — Lower rated debt securities or instruments, rated Ba1/BB+ or below by Nationally Recognized Statistical Rating Organizations (also known as "junk bonds"), 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

25&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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securities may fluctuate more than the prices of higher quality debt securities and may decline significantly in periods of general economic difficulty.

*Investing in similar municipal bonds* — Investing significantly in municipal obligations of multiple issuers in the same state or backed by revenues of similar types of projects or industries may make the fund more susceptible to certain economic, political or regulatory occurrences. As a result, the fund has greater risk of volatility, and greater risk of loss, from these investments.

*Interest rate risk* — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. 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. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

*Portfolio turnover* — The fund may engage in frequent and active trading of its portfolio securities. Higher portfolio turnover may involve correspondingly greater transaction costs in the form of dealer spreads, brokerage commissions and other transaction costs on the sale of securities and on reinvestment in other securities. The sale of portfolio securities may also result in the realization of net capital gains, which are taxable when distributed to shareholders, unless the shareholder is exempt from taxation or his or her account is tax-favored. These costs and tax effects may adversely affect the fund's returns to shareholders. The fund's portfolio turnover rate may vary from year to year, as well as within a year.

*Market trading* — The fund shares are listed for trading on an exchange and are bought and sold on the secondary market at market prices. The market prices of fund shares are expected to fluctuate, in some cases materially, in response to changes in the fund's net asset value ("NAV"), the intraday value of the fund's holdings, and supply and demand for the fund shares. The existence of significant market volatility, disruptions to creations and redemptions, or potential lack of an active trading market for fund shares and/or for the holdings of the fund (including through a trading halt), among other factors, may result in the shares trading significantly above (at a premium) or below (at a discount) to NAV and bid-ask spreads may widen. A bid-ask spread is the "spread" or difference between what investors are willing to pay for fund shares (the "bid" price) and the price at which they are willing to sell fund shares (the "ask" price). If you buy fund shares when their market price is at a premium or sell the fund shares when their market price is at a discount, you may pay more than, or receive less than, NAV, respectively.

*Authorized Participant concentration* — Only Authorized Participants (as defined in the "Shareholder information" section below) may engage in creation or redemption transactions directly with the fund, and none of them is obligated to do so. The fund has a limited number of institutions that may act as Authorized Participants. In addition, to the extent that securities held by the fund are traded outside a collateralized settlement system, Authorized Participants may be required to post collateral on certain trades on an agency basis (on behalf of other market participants), which only a limited number of Authorized Participants may be able to do. If Authorized Participants exit the business or are unable to or elect not to engage in creation or redemption transactions, and no other Authorized Participant engages in such function, fund shares may trade at a premium or discount to the fund's net asset value and/or at wider intraday bid-ask spreads and possibly face trading halts or delisting.

*Cash transactions* — The fund currently expects to effect at least part of its creations and redemptions for cash rather than in-kind securities. When the fund effects redemptions partly or wholly for cash, rather than in-kind, the fund may have to sell portfolio securities at inopportune times in order to obtain the cash needed to meet redemption orders. If the fund realizes gains on these sales, the fund generally will be required to recognize a gain it might not otherwise have recognized, or to recognize such gain sooner than would otherwise be required if it were to distribute portfolio securities in-kind. This strategy may cause shareholders to be subject to tax from distributions to which they would not otherwise be subject. The use of cash creations and redemptions may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV. As a result of such cash transactions, the fund could incur brokerage costs which, to the extent not offset by transaction fees that are payable by an Authorized Participant, may reduce the fund's NAV.

*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.

Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. You should consider how this fund fits into your overall investment program.

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 26

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Investment results The following bar chart shows how the fund's investment results have varied from year to year, and the following table shows how the fund's average annual total returns for various periods compare with a broad measure of securities market results and, if applicable, other measures of market results that reflect the fund's investment universe. This information provides some indication of the risks of investing in the fund. Past investment results (before and after taxes) are not predictive of future investment results. Updated information on the fund's investment results can be obtained by visiting capitalgroup.com/etf.

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| | | |
|:---|:---|:---|
| **Average annual total returns** **For the periods ended December 31, 2025:** | 1 year | Lifetime |
| Fund (inception date — 10/25/22) | 5.23% | 6.22% |
| &nbsp;&nbsp;&nbsp;&nbsp;- After taxes on distributions | 5.23 | 6.22 |
| &nbsp;&nbsp;&nbsp;&nbsp;- After taxes on distributions and sale of fund shares | 4.50 | 5.58 |

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| | | |
|:---|:---|:---|
| Indexes | 1 year | **Lifetime**<br>**(since fund's<br>inception)** |
| Bloomberg Municipal Bond Index (reflects no deductions for sales charges, account fees, expenses or U.S. federal income taxes) | 4.25% | 5.21% |
| 85%/15% Bloomberg 1-15 Year Blend (1-17) Municipal Bond Index / Bloomberg 1-15 Year Blend (1-17) High Yield Municipal Bond Index (reflects no deductions for sales charges, account fees, expenses or U.S. federal income taxes) | 4.95 | 5.03 |

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After-tax returns are calculated using the highest individual federal income tax rates in effect during each year of the periods shown and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your individual tax situation and likely will differ from the results shown above.

Management

**Investment adviser** Capital Research and Management Company

 **Portfolio managers** The individuals primarily responsible for the portfolio management of the fund are:

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| | | |
|:---|:---|:---|
| **Portfolio manager/**<br>**Fund title (if applicable)** | **Portfolio manager**<br>**in this fund since:** | **Primary title**<br>**with investment adviser** |
| **Mark Marinella** | 2022 | Partner – Capital Fixed Income Investors |
| **Jerome Solomon** | 2022 | Partner – Capital Fixed Income Investors |
| **Courtney K. Wolf** President and Trustee | 2022 | Partner – Capital Fixed Income Investors |

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Purchase and sale of fund shares The fund is an exchange-traded fund ("ETF"). Individual shares of the fund may only be bought and sold in the secondary market through a broker-dealer at market price. Because ETF shares trade at market prices rather than at NAV, shares may trade at a price greater than NAV (a premium) or less than NAV (a discount). An investor may incur costs attributable to the difference between the highest price a buyer is willing to pay to purchase fund shares (bid) and the lowest price a seller is willing to accept for fund shares (ask) when buying or selling shares in the secondary market (the "bid-ask spread"). Recent information regarding the fund's NAV, market price, premiums and discounts, and bid-ask spread is available at capitalgroup.com/etf.

Tax information Fund distributions of interest on municipal bonds are generally not subject to federal income tax. However, the fund may distribute taxable dividends, including distributions of short-term capital gains, which are subject to federal taxation as ordinary income. Interest on certain bonds may be subject to federal alternative minimum tax. The fund's distributions of net long-term capital gains are taxable as long-term capital gains for federal income tax purposes.

Payments to broker-dealers and other financial intermediaries If you purchase shares of the fund through a broker-dealer or other financial intermediary (such as a bank), the fund's distributor or its affiliates may pay the intermediary for the sale of fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your individual financial professional to recommend the fund over another investment. Ask your individual financial professional or visit your financial intermediary's website for more information.

27&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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**Capital Group Short Duration Income ETF**

Investment objective The fund's investment objective is to provide current income, consistent with a short duration profile as described in this prospectus and with the preservation of capital.

Fees and expenses of the fund This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.**

**Shareholder fees** **(fees paid directly from your investment)**

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| | |
|:---|:---|
| **Annual fund operating expenses\*** **(expenses that you pay each year as a percentage of the net asset value of your investment)** | **Annual fund operating expenses\*** **(expenses that you pay each year as a percentage of the net asset value of your investment)** |
| Management fees | 0.25% |
| Other expenses | 0.00 |
| Total annual fund operating expenses | 0.25 |

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\*The fund's Investment Advisory and Service Agreement provides that the investment adviser will pay all operating expenses of the fund, except for the management fees, interest expenses, taxes, acquired fund fees and expenses, costs of holding shareholder meetings, legal fees and expenses relating to arbitration or litigation, payments under the fund's 12b-1 plan (if any) and other non-routine or extraordinary expenses. Additionally, the fund will be responsible for its non-operating expenses, including brokerage commissions and fees and expenses associated with the fund's securities lending program, if any.

**Example** This example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds.

The example assumes that you invest $10,000 in the fund for the time periods indicated and then sell all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the fund's operating expenses remain the same. No fees are charged by the fund upon the sale of fund shares, so you would incur these hypothetical costs whether or not you were to sell your shares at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

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| | | | |
|:---|:---|:---|:---|
| 1 year | 3 years | 5 years | 10 years |
| $26 | $80 | $141 | $318 |

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**Portfolio turnover** The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund's investment results. During the most recent fiscal year, the fund's portfolio turnover rate was 128% of the average value of its portfolio.

Principal investment strategies The fund will invest primarily in bonds (bonds include any debt instrument and cash equivalents, and may be represented by derivatives). The fund maintains a portfolio of bonds, other debt securities (including asset-backed securities and other securities described below) and money market instruments consisting primarily of debt securities rated BBB– or Baa3 or better by Nationally Recognized Statistical Rating Organizations designated by the fund's investment adviser or unrated but determined to be of equivalent quality by the fund's investment adviser. The fund's average portfolio duration is generally expected to be less than 2 years, but may be up to 3 years.

The fund primarily invests in debt securities denominated in U.S. dollars, including securities issued and guaranteed by the U.S. government, securities of corporate issuers, mortgage-backed securities and debt securities and mortgage-backed securities issued by government sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government. In addition, the fund may invest in asset-backed securities (securities backed by assets such as auto loans, credit card receivables or other providers of credit).

The fund may invest in debt securities tied economically to countries outside the U.S. including, but not limited to, corporate debt and inflation-linked bonds issued by U.S. and non-U.S. governments, their agencies or instrumentalities. Inflation-linked bonds are structured to protect against inflation by linking the bond's principal and interest payments to an inflation index, such as the Consumer Price Index for Urban Consumers, so that principal and interest adjust to reflect changes in the index.

The fund may also invest in futures contracts and swaps, which are types of derivatives. A derivative is a financial contract, the value of which is based on the value of an underlying financial asset (such as a stock, bond or currency), a reference rate or a market index.

The fund's assets are managed by a team of portfolio managers. Under this approach, the fund's managers work together to oversee the fund's entire portfolio. For more information regarding the investment process of the fund, see the "Management and organization" section of this prospectus.

The fund relies on the professional judgment of its investment adviser to make decisions about the fund's portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good investment opportunities. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 28

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Principal risks **This section describes the principal risks associated with investing in the fund. You may lose money by investing in the fund. The likelihood of loss may be greater if you invest for a shorter period of time.** 

*Market conditions* — The prices of, and the income generated by, the securities held by the fund may decline due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; and currency exchange rate, interest rate and commodity price fluctuations.

Economies and financial markets throughout the world are highly interconnected. Events (including public health emergencies, such as the spread of infectious disease), bank failures and other circumstances in one country or region 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 the issuer's financial condition or credit rating, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives and the market response to any such initiatives. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer.

*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 quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of callable debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change 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 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. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund's securities could cause the net asset 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.

*Investing in mortgage-related and other asset-backed securities* — Mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, include debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as consumer loans or receivables. While such securities are subject to the risks associated with investments in debt instruments generally (for example, credit, extension and interest rate risks), they are also subject to other and different risks. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt, potentially increasing the volatility of the securities and the fund's net asset value. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the fund having to reinvest the proceeds in lower yielding securities, effectively reducing the fund's income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the fund's cash available for reinvestment in higher yielding securities. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations and the value of property that secures the mortgages may decline in value and be insufficient, upon foreclosure, to repay the associated loans. Investments in asset-backed securities are subject to similar risks.

*Investing in securities backed by the U.S. government* — U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates and the credit rating of the U.S. government. Notwithstanding that these securities are backed by the full faith and credit of the U.S. government, circumstances could arise that would prevent or delay the payment of interest or principal on these securities, which could adversely affect their value and cause the fund to suffer losses. Such an event could lead to significant disruptions in U.S. and global markets.

Securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government.

*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 or difficult to determine, 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 to try to limit losses, or may be forced to sell at a loss. Depending on

29&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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market conditions, reduced liquidity of fund holdings may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV.

*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 United States* — Securities of issuers domiciled outside the United States or with significant operations or revenues outside the United States and securities tied economically to countries outside the United States may lose value because of adverse political, social, economic or market developments in the countries or regions in which the issuers are domiciled, operate or generate revenue or to which the securities are tied economically. 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, 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 United States. Investments outside the United States may also be subject to different accounting practices and different regulatory, legal, auditing, financial reporting and recordkeeping standards and practices, and may be more difficult to value, than those in the United States. In addition, the value of investments outside the United States may be reduced by foreign taxes. Further, there may be increased risks of delayed settlement of securities purchased or sold by the fund, which could impact the liquidity of the fund's portfolio.

*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 cause the fund to lose significantly more than 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. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

*Interest rate risk* — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. 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. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

*Portfolio turnover* — The fund may engage in frequent and active trading of its portfolio securities. Higher portfolio turnover may involve correspondingly greater transaction costs in the form of dealer spreads, brokerage commissions and other transaction costs on the sale of securities and on reinvestment in other securities. The sale of portfolio securities may also result in the realization of net capital gains, which are taxable when distributed to shareholders, unless the shareholder is exempt from taxation or his or her account is tax-favored. These costs and tax effects may adversely affect the fund's returns to shareholders. The fund's portfolio turnover rate may vary from year to year, as well as within a year.

*Market trading* — The fund shares are listed for trading on an exchange and are bought and sold on the secondary market at market prices. The market prices of fund shares are expected to fluctuate, in some cases materially, in response to changes in the fund's net asset value ("NAV"), the intraday value of the fund's holdings, and supply and demand for the fund shares. The existence of significant market volatility, disruptions to creations and redemptions, or potential lack of an active trading market for fund shares and/or for the holdings of the fund (including through a trading halt), among other factors, may result in the shares trading significantly above (at a premium) or below (at a discount) to NAV and bid-ask spreads may widen. A bid-ask spread is the "spread" or difference between what investors are willing to pay for fund shares (the "bid" price) and the price at which they are willing to sell fund shares (the "ask" price). If you buy fund shares when their market price is at a premium or sell the fund shares when their market price is at a discount, you may pay more than, or receive less than, NAV, respectively.

Foreign securities held by the fund may be traded in markets that close at a different time than the exchange on which the fund's shares are listed. Liquidity in those securities may be reduced after the applicable closing times. Accordingly, during the time when the fund's

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 30

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exchange is open but after the applicable market closing, fixing or settlement times, bid-ask spreads on the fund's exchange and the corresponding premium or discount to the fund's NAV may widen.

*Authorized Participant concentration* — Only Authorized Participants (as defined in the "Shareholder information" section below) may engage in creation or redemption transactions directly with the fund, and none of them is obligated to do so. The fund has a limited number of institutions that may act as Authorized Participants. In addition, to the extent that securities held by the fund are traded outside a collateralized settlement system, Authorized Participants may be required to post collateral on certain trades on an agency basis (on behalf of other market participants), which only a limited number of Authorized Participants may be able to do. If Authorized Participants exit the business or are unable to or elect not to engage in creation or redemption transactions, and no other Authorized Participant engages in such function, fund shares may trade at a premium or discount to the fund's net asset value and/or at wider intraday bid-ask spreads and possibly face trading halts or delisting.

*Cash transactions* — The fund currently expects to effect at least part of its creations and redemptions for cash rather than in-kind securities. When the fund effects redemptions partly or wholly for cash, rather than in-kind, the fund may have to sell portfolio securities at inopportune times in order to obtain the cash needed to meet redemption orders. If the fund realizes gains on these sales, the fund generally will be required to recognize a gain it might not otherwise have recognized, or to recognize such gain sooner than would otherwise be required if it were to distribute portfolio securities in-kind. This strategy may cause shareholders to be subject to tax from distributions to which they would not otherwise be subject. The use of cash creations and redemptions may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV. As a result of such cash transactions, the fund could incur brokerage costs which, to the extent not offset by transaction fees that are payable by an Authorized Participant, may reduce the fund's NAV.

*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.

Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. You should consider how this fund fits into your overall investment program.

31&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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Investment results The following bar chart shows how the fund's investment results have varied from year to year, and the following table shows how the fund's average annual total returns for various periods compare with a broad measure of securities market results and, if applicable, other measures of market results that reflect the fund's investment universe. This information provides some indication of the risks of investing in the fund. Past investment results (before and after taxes) are not predictive of future investment results. Updated information on the fund's investment results can be obtained by visiting capitalgroup.com/etf.

![](graphicsimage_008.jpg)

---

| | | |
|:---|:---|:---|
| **Average annual total returns** **For the periods ended December 31, 2025:** | 1 year | Lifetime |
| Fund (inception date — 10/25/22) | 6.20% | 5.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;- After taxes on distributions | 4.27 | 3.95 |
| &nbsp;&nbsp;&nbsp;&nbsp;- After taxes on distributions and sale of fund shares | 3.64 | 3.66 |

---

---

| | | |
|:---|:---|:---|
| Indexes | 1 year | **Lifetime**<br>**(since fund's<br>inception)** |
| Bloomberg U.S. Aggregate Index (reflects no deductions for sales charges, account fees, expenses or U.S. federal income taxes) | 7.30% | 5.55% |
| Bloomberg U.S. Government/Credit 1-3 Year Index (reflects no deductions for sales charges, account fees, expenses or U.S. federal income taxes) | 5.35 | 4.83 |

---

After-tax returns are calculated using the highest individual federal income tax rates in effect during each year of the periods shown and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your individual tax situation and likely will differ from the results shown above.

Management

**Investment adviser** Capital Research and Management Company

 **Portfolio managers** The individuals primarily responsible for the portfolio management of the fund are:

---

| | | |
|:---|:---|:---|
| **Portfolio manager/**<br>**Fund title (if applicable)** | **Portfolio manager**<br>**in this fund since:** | **Primary title**<br>**with investment adviser** |
| **Vincent J. Gonzales** President | 2022 | Partner – Capital Fixed Income Investors |
| **Steven D. Lotwin** | 2022 | Partner – Capital Fixed Income Investors |

---

Purchase and sale of fund shares The fund is an exchange-traded fund ("ETF"). Individual shares of the fund may only be bought and sold in the secondary market through a broker-dealer at market price. Because ETF shares trade at market prices rather than at NAV, shares may trade at a price greater than NAV (a premium) or less than NAV (a discount). An investor may incur costs attributable to the difference between the highest price a buyer is willing to pay to purchase fund shares (bid) and the lowest price a seller is willing to accept for fund shares (ask) when buying or selling shares in the secondary market (the "bid-ask spread"). Recent information regarding the fund's NAV, market price, premiums and discounts, and bid-ask spread is available at capitalgroup.com/etf.

Tax information Dividends and capital gain distributions you receive from the fund are subject to federal income taxes and may also be subject to state and local taxes, unless you are tax-exempt or your account is tax-favored (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to broker-dealers and other financial intermediaries If you purchase shares of the fund through a broker-dealer or other financial intermediary (such as a bank), the fund's distributor or its affiliates may pay the intermediary for the sale of fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your individual financial professional to recommend the fund over another investment. Ask your individual financial professional or visit your financial intermediary's website for more information.

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 32

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**Capital Group Short Duration Municipal Income ETF**

Investment objective The fund's investment objective is to provide current income exempt from regular federal income tax, consistent with a short duration profile as described in this prospectus and with the preservation of capital.

Fees and expenses of the fund This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.**

**Shareholder fees** **(fees paid directly from your investment)**

---

| | |
|:---|:---|
| **Annual fund operating expenses<sup>\*</sup>** **(expenses that you pay each year as a percentage of the net asset value of your investment)** | **Annual fund operating expenses<sup>\*</sup>** **(expenses that you pay each year as a percentage of the net asset value of your investment)** |
| Management fees | 0.25% |
| Other expenses | 0.00 |
| Total annual fund operating expenses | 0.25 |

---

\*The fund's Investment Advisory and Service Agreement provides that the investment adviser will pay all operating expenses of the fund, except for the management fees, interest expenses, taxes, acquired fund fees and expenses, costs of holding shareholder meetings, legal fees and expenses relating to arbitration or litigation, payments under the fund's 12b-1 plan (if any) and other non-routine or extraordinary expenses. Additionally, the fund will be responsible for its non-operating expenses, including brokerage commissions and fees and expenses associated with the fund's securities lending program, if any.

**Example** This example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds.

The example assumes that you invest $10,000 in the fund for the time periods indicated and then sell all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the fund's operating expenses remain the same. No fees are charged by the fund upon the sale of fund shares, so you would incur these hypothetical costs whether or not you were to sell your shares at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

---

| | | | |
|:---|:---|:---|:---|
| 1 year | 3 years | 5 years | 10 years |
| $26 | $80 | $141 | $318 |

---

**Portfolio turnover** The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund's investment results. During the most recent fiscal year, the fund's portfolio turnover rate was 55% of the average value of its portfolio.

Principal investment strategies The fund will normally invest at least 80% of its assets in, or derive at least 80% of its income from, securities that are exempt from regular federal income tax. Such securities consist of municipal bonds, which are debt obligations that pay interest that is exempt from federal income taxation, with payments made from a wide variety of sources, including governmental revenue streams and private enterprises. The fund will invest up to 20% of its assets in private activity bonds whose interest is generally subject to the federal alternative minimum tax.

The fund will invest at least 80% of its assets in bonds and other debt instruments. The fund may invest in insured municipal bonds, which are municipal bonds that are insured generally as to the timely payment of interest and repayment of principal. In addition, the fund may invest in debt securities of varying credit quality, including up to 10% of its assets in debt securities rated BB+ or below and Ba1 or below by Nationally Recognized Statistical Rating Organizations designated by the fund's investment adviser, or unrated but determined by the fund's investment adviser to be of equivalent quality. Securities rated BB+ or below and Ba1 or below are sometimes referred to as "junk bonds." The fund may invest in debt securities of any maturity. The fund will maintain a weighted average effective portfolio duration that is within 1 year of that of the Bloomberg Municipal Short 1-5 Years Index.

The fund is nondiversified, which means it may invest a greater portion of its assets in fewer issuers than would otherwise be the case.

The fund's assets are managed by a team of portfolio managers. Under this approach, the fund's managers work together to oversee the fund's entire portfolio. For more information regarding the investment process of the fund, see the "Management and organization" section of this prospectus.

The fund relies on the professional judgment of its investment adviser to make decisions about the fund's portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good investment opportunities. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.

33&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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Principal risks **This section describes the principal risks associated with investing in the fund. You may lose money by investing in the fund. The likelihood of loss may be greater if you invest for a shorter period of time.** 

*Market conditions* — The prices of, and the income generated by, the securities held by the fund may decline due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; and currency exchange rate, interest rate and commodity price fluctuations.

Economies and financial markets throughout the world are highly interconnected. Events (including public health emergencies, such as the spread of infectious disease), bank failures and other circumstances in one country or region 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 the issuer's financial condition or credit rating, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives and the market response to any such initiatives. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer.

*Investing in municipal securities* — Municipal securities are debt obligations that are exempt from federal, state and/or local income taxes. The yield and/or value of the fund's investments in municipal securities may be adversely affected by events tied to the municipal securities markets, which can be very volatile and significantly impacted by unfavorable legislative or political developments and negative changes in the financial conditions of municipal securities issuers and the economy. To the extent the fund invests in obligations of a municipal issuer, the volatility, credit quality and performance of the fund may be adversely impacted by local political and economic conditions of the issuer. For example, a credit rating downgrade, bond default or bankruptcy involving an issuer within a particular state or territory could affect the market values and marketability of many or all municipal obligations of that state or territory. Income from municipal securities held by the fund could also be declared taxable because of changes in tax laws or interpretations by taxing authorities or as a result of noncompliant conduct of a municipal issuer. Additionally, the relative amount of publicly available information about municipal securities is generally less than that for corporate securities.

*Alternative minimum tax* — The fund may invest in securities, including in "private activity bonds," that may subject you to federal alternative minimum tax. Therefore, while the fund's distributions from tax-exempt securities are not subject to regular federal income tax, a portion or all of the distributions may be included in determining a shareholder's federal alternative minimum tax.

*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 quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of callable debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change 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 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. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund's securities could cause the net asset 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.

*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 or difficult to determine, 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 to try to limit losses, or may be forced to sell at a loss. Depending on market conditions, reduced liquidity of fund holdings may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV.

*Credit and liquidity support* — Changes in the credit quality of banks and financial institutions providing credit and liquidity support features with respect to securities held by the fund could cause the values of these securities to decline.

*Investing in lower rated debt instruments* — Lower rated debt securities or instruments, rated Ba1/BB+ or below by Nationally Recognized Statistical Rating Organizations (also known as "junk bonds"), 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

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 34

------

securities may fluctuate more than the prices of higher quality debt securities and may decline significantly in periods of general economic difficulty.

*Investing in similar municipal bonds* — Investing significantly in municipal obligations of multiple issuers in the same state or backed by revenues of similar types of projects or industries may make the fund more susceptible to certain economic, political or regulatory occurrences. As a result, the fund has greater risk of volatility, and greater risk of loss, from these investments.

*Insured municipal bonds –* The fund may invest in municipal bonds that are insured generally as to the timely payment of interest and repayment of principal. Insurance that covers a municipal bond does not guarantee the market value of the bond or the prices of the fund's shares. Market conditions or changes to ratings criteria could adversely impact the ratings of municipal bond insurers. If the credit rating of the insurer were downgraded or withdrawn by rating agencies, this could have an adverse effect upon the credit rating of the insured bond and, therefore, its market value, despite the quality of the underlying issuer.

*Interest rate risk* — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. 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. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

*Portfolio turnover* — The fund may engage in frequent and active trading of its portfolio securities. Higher portfolio turnover may involve correspondingly greater transaction costs in the form of dealer spreads, brokerage commissions and other transaction costs on the sale of securities and on reinvestment in other securities. The sale of portfolio securities may also result in the realization of net capital gains, which are taxable when distributed to shareholders, unless the shareholder is exempt from taxation or his or her account is tax-favored. These costs and tax effects may adversely affect the fund's returns to shareholders. The fund's portfolio turnover rate may vary from year to year, as well as within a year.

*Market trading* — The fund shares are listed for trading on an exchange and are bought and sold on the secondary market at market prices. The market prices of fund shares are expected to fluctuate, in some cases materially, in response to changes in the fund's net asset value ("NAV"), the intraday value of the fund's holdings, and supply and demand for the fund shares. The existence of significant market volatility, disruptions to creations and redemptions, or potential lack of an active trading market for fund shares and/or for the holdings of the fund (including through a trading halt), among other factors, may result in the shares trading significantly above (at a premium) or below (at a discount) to NAV and bid-ask spreads may widen. A bid-ask spread is the "spread" or difference between what investors are willing to pay for fund shares (the "bid" price) and the price at which they are willing to sell fund shares (the "ask" price). If you buy fund shares when their market price is at a premium or sell the fund shares when their market price is at a discount, you may pay more than, or receive less than, NAV, respectively.

*Authorized Participant concentration* — Only Authorized Participants (as defined in the "Shareholder information" section below) may engage in creation or redemption transactions directly with the fund, and none of them is obligated to do so. The fund has a limited number of institutions that may act as Authorized Participants. In addition, to the extent that securities held by the fund are traded outside a collateralized settlement system, Authorized Participants may be required to post collateral on certain trades on an agency basis (on behalf of other market participants), which only a limited number of Authorized Participants may be able to do. If Authorized Participants exit the business or are unable to or elect not to engage in creation or redemption transactions, and no other Authorized Participant engages in such function, fund shares may trade at a premium or discount to the fund's net asset value and/or at wider intraday bid-ask spreads and possibly face trading halts or delisting.

35&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

------

*Nondiversification* — As a nondiversified fund, the fund may invest a greater percentage of its assets in fewer issuers than a diversified fund. A fund that invests in a relatively smaller number of issuers is more susceptible to risks associated with a single economic, political, geographic or regulatory occurrence than a diversified fund might be. In addition, poor performance by a single issuer could adversely affect fund performance more than if the fund were invested in a larger number of issuers. The value of the fund's shares can be expected to fluctuate more than might be the case if the fund were more broadly diversified.

*Cash transactions* — The fund currently expects to effect at least part of its creations and redemptions for cash rather than in-kind securities. When the fund effects redemptions partly or wholly for cash, rather than in-kind, the fund may have to sell portfolio securities at inopportune times in order to obtain the cash needed to meet redemption orders. If the fund realizes gains on these sales, the fund generally will be required to recognize a gain it might not otherwise have recognized, or to recognize such gain sooner than would otherwise be required if it were to distribute portfolio securities in-kind. This strategy may cause shareholders to be subject to tax from distributions to which they would not otherwise be subject. The use of cash creations and redemptions may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV. As a result of such cash transactions, the fund could incur brokerage costs which, to the extent not offset by transaction fees that are payable by an Authorized Participant, may reduce the fund's NAV.

*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.

Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. You should consider how this fund fits into your overall investment program.

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 36

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Investment results The following bar chart shows how the fund's investment results have varied from year to year, and the following table shows how the fund's average annual total returns for various periods compare with a broad measure of securities market results and, if applicable, other measures of market results that reflect the fund's investment universe. This information provides some indication of the risks of investing in the fund. Past investment results (before and after taxes) are not predictive of future investment results. Updated information on the fund's investment results can be obtained by visiting capitalgroup.com/etf.

![](graphicsimage_009.jpg)

---

| | | |
|:---|:---|:---|
| **Average annual total returns** **For the periods ended December 31, 2025:** | 1 year | Lifetime |
| Fund (inception date — 9/26/23) | 4.67% | 5.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;- After taxes on distributions | 4.67 | 5.53 |
| &nbsp;&nbsp;&nbsp;&nbsp;- After taxes on distributions and sale of fund shares | 4.04 | 5.00 |

---

---

| | | |
|:---|:---|:---|
| Indexes | 1 year | **Lifetime**<br>**(since fund's<br>inception)** |
| Bloomberg Municipal Bond Index (reflects no deductions for sales charges, account fees, expenses or U.S. federal income taxes) | 4.25% | 5.58% |
| Bloomberg Municipal Short 1-5 Years Index (reflects no deductions for sales charges, account fees, expenses or U.S. federal income taxes) | 4.11 | 4.21 |

---

After-tax returns are calculated using the highest individual federal income tax rates in effect during each year of the periods shown and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your individual tax situation and likely will differ from the results shown above.

Management

**Investment adviser** Capital Research and Management Company

 **Portfolio managers** The individuals primarily responsible for the portfolio management of the fund are:

---

| | | |
|:---|:---|:---|
| **Portfolio manager/**<br>**Fund title (if applicable)** | **Portfolio manager**<br>**in this fund since:** | **Primary title**<br>**with investment adviser** |
| **Vikas Malhotra** President | 2023 | Partner – Capital Fixed Income Investors |
| **Mark Marinella** | 2023 | Partner – Capital Fixed Income Investors |

---

Purchase and sale of fund shares The fund is an exchange-traded fund ("ETF"). Individual shares of the fund may only be bought and sold in the secondary market through a broker-dealer at market price. Because ETF shares trade at market prices rather than at NAV, shares may trade at a price greater than NAV (a premium) or less than NAV (a discount). An investor may incur costs attributable to the difference between the highest price a buyer is willing to pay to purchase fund shares (bid) and the lowest price a seller is willing to accept for fund shares (ask) when buying or selling shares in the secondary market (the "bid-ask spread"). Recent information regarding the fund's NAV, market price, premiums and discounts, and bid-ask spread is available at capitalgroup.com/etf.

Tax information Fund distributions of interest on municipal bonds are generally not subject to federal income tax. However, the fund may distribute taxable dividends, including distributions of short-term capital gains, which are subject to federal taxation as ordinary income. Interest on certain bonds may be subject to federal alternative minimum tax. The fund's distributions of net long-term capital gains are taxable as long-term capital gains for federal income tax purposes.

Payments to broker-dealers and other financial intermediaries If you purchase shares of the fund through a broker-dealer or other financial intermediary (such as a bank), the fund's distributor or its affiliates may pay the intermediary for the sale of fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your individual financial professional to recommend the fund over another investment. Ask your individual financial professional or visit your financial intermediary's website for more information.

37&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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**Capital Group Ultra Short Income ETF**

Investment objective The fund's investment objective is to provide current income, consistent with an ultra-short duration profile, focused on preservation of capital.

Fees and expenses of the fund This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.**

**Shareholder fees** **(fees paid directly from your investment)**

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| | |
|:---|:---|
| **Annual fund operating expenses<sup>\*</sup>** **(expenses that you pay each year as a percentage of the net asset value of your investment)** | **Annual fund operating expenses<sup>\*</sup>** **(expenses that you pay each year as a percentage of the net asset value of your investment)** |
| Management fees | 0.18% |
| Other expenses | 0.00 |
| Total annual fund operating expenses | 0.18 |

---

\*The fund's Investment Advisory and Service Agreement provides that the investment adviser will pay all operating expenses of the fund, except for the management fees, interest expenses, taxes, acquired fund fees and expenses, costs of holding shareholder meetings, legal fees and expenses relating to arbitration or litigation, payments under the fund's 12b-1 plan (if any) and other non-routine or extraordinary expenses. Additionally, the fund will be responsible for its non-operating expenses, including brokerage commissions and fees and expenses associated with the fund's securities lending program, if any.

**Example** This example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds.

The example assumes that you invest $10,000 in the fund for the time periods indicated and then sell all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the fund's operating expenses remain the same. No fees are charged by the fund upon the sale of fund shares, so you would incur these hypothetical costs whether or not you were to sell your shares at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

---

| | | | |
|:---|:---|:---|:---|
| 1 year | 3 years | 5 years | 10 years |
| $18 | $58 | $101 | $230 |

---

**Portfolio turnover** The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund's investment results. During the most recent fiscal year, the fund's portfolio turnover rate was 90% of the average value of its portfolio.

Principal investment strategies The fund will invest at least 80% of its assets in bonds and other debt securities that accrue income, which may be represented by derivatives. Under normal circumstances, the fund will invest primarily in investment grade, U.S. dollar denominated short-term debt, including: high-quality, short-term money market instruments such as commercial paper and certificates of deposit; U.S. Treasury securities and other government securities guaranteed or issued by an agency or instrumentality of the U.S. government; corporate securities; and asset-backed securities. The fund may invest substantially in debt securities that are tied economically to countries outside the United States, including securities issued by foreign corporations or foreign governments and their agencies and instrumentalities.

The fund will invest primarily in investment-grade debt with a minimum short-term rating of P-2, A-2 or F2 or better, or a minimum long-term rating of BBB- or Baa3, in each case given by Nationally Recognized Statistical Rating Organizations designated by the fund's investment adviser or unrated but determined to be of equivalent quality by the fund's investment adviser.

The fund may also invest in futures contracts and swaps, which are types of derivatives. A derivative is a financial contract, the value of which is based on the value of an underlying financial asset (such as a stock, bond or currency), a reference rate or a market index.

The fund seeks to maintain an average portfolio duration of one year or less. However, under certain market conditions, such as in periods of significant volatility in interest rates and spreads, the fund's duration may be longer than one year. In addition, under normal market conditions, the fund seeks to maintain a dollar-weighted average effective maturity of two years or less.

The fund is nondiversified, which means it may invest a greater portion of its assets in fewer issuers than would otherwise be the case. In addition, under normal market conditions, the fund will invest more than 25% of its assets in securities issued by companies in the financials group of industries. However, the fund may invest 25% of its assets or less in such industries as a temporary defensive measure.

The fund's assets are managed by a team of portfolio managers. Under this approach, the fund's managers work together to oversee the fund's entire portfolio. For more information regarding the investment process of the fund, see the "Management and organization" section of this prospectus.

The fund relies on the professional judgment of its investment adviser to make decisions about the fund's portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good investment opportunities. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 38

------

Principal risks **This section describes the principal risks associated with investing in the fund. You may lose money by investing in the fund. The likelihood of loss may be greater if you invest for a shorter period of time.** 

*Market conditions* — The prices of, and the income generated by, the securities held by the fund may decline due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; and currency exchange rate, interest rate and commodity price fluctuations.

Economies and financial markets throughout the world are highly interconnected. Events (including public health emergencies, such as the spread of infectious disease), bank failures and other circumstances in one country or region 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 the issuer's financial condition or credit rating, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives and the market response to any such initiatives. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer.

*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 quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of callable debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change 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 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. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund's securities could cause the net asset 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.

*Investing in cash equivalents* **—** Cash equivalents, such as commercial paper, asset-backed commercial paper, short term-bank obligations and corporate bonds and notes that mature or may be redeemed or mature within thirteen months or less, like other fixed income instruments are subject to interest rate risk. However, the short-term nature of a commercial paper investment makes it less susceptible to volatility than many other fixed income securities because interest rate risk typically increases as maturity lengths increase. Commercial paper is often unsecured, but may be supported by letters of credit or other forms of collateral. Maturing commercial paper are usually repaid by the issuer from the proceeds of new commercial paper issuances. As a result, investment in commercial paper is subject to rollover risk, or the risk that the issuer cannot issue enough new commercial paper to satisfy its outstanding commercial paper. As with all fixed income securities, there is a chance that the issuer will default on its short-term obligations and these securities may become illiquid or suffer from reduced liquidity in these or other situations.

*Investing in financials* — Under normal circumstances, a significant portion of the fund's portfolio will be comprised of securities issued by companies in the financials group of industries. As a result, the fund may be more susceptible to any economic, business, political or other developments which generally affect this group of industries. The profitability of many types of financial companies may be adversely affected in certain market cycles, including during periods of rising interest rates, which may restrict the availability and increase the cost of capital, and declining economic conditions, which may cause credit losses due to financial difficulties of borrowers. Because many types of financial companies are vulnerable to these economic cycles, the fund's investments may lose value during such periods.

*Investing in securities backed by the U.S. government* — U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates and the credit rating of the U.S. government.

Securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government.

*Investing in asset-backed securities —* Asset-backed securities include debt obligations that represent interests in pools of income-bearing assets, such as consumer loans or receivables. While such securities are subject to the risks associated with investments in debt instruments generally (for example, credit, extension and interest rate risks), they are also subject to other and different risks. Asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt, potentially increasing the volatility of the securities and the fund's net asset value. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the fund having to reinvest the proceeds in lower yielding securities, effectively reducing the fund's

39&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the asset-backed securities are paid off could be extended, reducing the fund's cash available for reinvestment in higher yielding securities. Asset-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations and the value of property that secures the asset may decline in value and be insufficient, upon foreclosure, to repay the associated loans.

*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 cause the fund to lose significantly more than 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. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

*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 or difficult to determine, 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 to try to limit losses, or may be forced to sell at a loss. Depending on market conditions, reduced liquidity of fund holdings may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV.

*Investing outside the United States* — Securities of issuers domiciled outside the United States or with significant operations or revenues outside the United States and securities tied economically to countries outside the United States may lose value because of adverse political, social, economic or market developments in the countries or regions in which the issuers are domiciled, operate or generate revenue or to which the securities are tied economically. 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, 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 United States. Investments outside the United States may also be subject to different accounting practices and different regulatory, legal, auditing, financial reporting and recordkeeping standards and practices, and may be more difficult to value, than those in the United States. In addition, the value of investments outside the United States may be reduced by foreign taxes. Further, there may be increased risks of delayed settlement of securities purchased or sold by the fund, which could impact the liquidity of the fund's portfolio.

*Interest rate risk* — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. 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. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

*Exposure to country, region, industry or sector* — Subject to the fund's investment limitations, the fund may have significant exposure to a particular country, region, industry or sector. Such exposure may cause the fund to be more impacted by risks relating to and developments affecting the country, region, industry or sector, and thus its net asset value may be more volatile, than a fund without such levels of exposure. For example, if the fund has significant exposure in a particular country, then social, economic, regulatory or other issues that negatively affect that country may have a greater impact on the fund than on a fund that is more geographically diversified.

*Market trading* — The fund shares are listed for trading on an exchange and are bought and sold on the secondary market at market prices. The market prices of fund shares are expected to fluctuate, in some cases materially, in response to changes in the fund's net asset value ("NAV"), the intraday value of the fund's holdings, and supply and demand for the fund shares. The existence of significant market volatility, disruptions to creations and redemptions, or potential lack of an active trading market for fund shares and/or for the holdings of the fund (including through a trading halt), among other factors, may result in the shares trading significantly above (at a premium) or below (at a discount) to NAV and bid-ask spreads may widen. A bid-ask spread is the "spread" or difference between what investors are willing to pay for fund shares (the "bid" price) and the price at which they are willing to sell fund shares (the "ask" price). If you buy fund shares when their market price is at a premium or sell the fund shares when their market price is at a discount, you may pay more than, or receive less than, NAV, respectively.

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 40

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*Authorized Participant concentration* — Only Authorized Participants (as defined in the "Shareholder information" section below) may engage in creation or redemption transactions directly with the fund, and none of them is obligated to do so. The fund has a limited number of institutions that may act as Authorized Participants. In addition, to the extent that securities held by the fund are traded outside a collateralized settlement system, Authorized Participants may be required to post collateral on certain trades on an agency basis (on behalf of other market participants), which only a limited number of Authorized Participants may be able to do. If Authorized Participants exit the business or are unable to or elect not to engage in creation or redemption transactions, and no other Authorized Participant engages in such function, fund shares may trade at a premium or discount to the fund's net asset value and/or at wider intraday bid-ask spreads and possibly face trading halts or delisting.

*Nondiversification* — As a nondiversified fund, the fund may invest a greater percentage of its assets in fewer issuers than a diversified fund. A fund that invests in a relatively smaller number of issuers is more susceptible to risks associated with a single economic, political, geographic or regulatory occurrence than a diversified fund might be. In addition, poor performance by a single issuer could adversely affect fund performance more than if the fund were invested in a larger number of issuers. The value of the fund's shares can be expected to fluctuate more than might be the case if the fund were more broadly diversified.

*Cash transactions* — The fund currently expects to effect at least part of its creations and redemptions for cash rather than in-kind securities. When the fund effects redemptions partly or wholly for cash, rather than in-kind, the fund may have to sell portfolio securities at inopportune times in order to obtain the cash needed to meet redemption orders. If the fund realizes gains on these sales, the fund generally will be required to recognize a gain it might not otherwise have recognized, or to recognize such gain sooner than would otherwise be required if it were to distribute portfolio securities in-kind. This strategy may cause shareholders to be subject to tax from distributions to which they would not otherwise be subject. The use of cash creations and redemptions may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV. As a result of such cash transactions, the fund could incur brokerage costs which, to the extent not offset by transaction fees that are payable by an Authorized Participant, may reduce the fund's NAV.

*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.

Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. You should consider how this fund fits into your overall investment program.

41&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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Investment results The following bar chart shows the fund's investment results for its first full calendar year of operations, and the following table shows how the fund's average annual total returns for various periods compare with a broad measure of securities market results and, if applicable, other measures of market results that reflect the fund's investment universe. This information provides some indication of the risks of investing in the fund. Past investment results (before and after taxes) are not predictive of future investment results. Updated information on the fund's investment results can be obtained by visiting capitalgroup.com/etf.

![](graphicsimage_010.jpg)

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| | | |
|:---|:---|:---|
| **Average annual total returns** **For the periods ended December 31, 2025:** | 1 year | Lifetime |
| Fund (inception date — 6/25/24) | 4.97% | 5.37% |
| &nbsp;&nbsp;&nbsp;&nbsp;- After taxes on distributions | 3.20 | 3.47 |
| &nbsp;&nbsp;&nbsp;&nbsp;- After taxes on distributions and sale of fund shares | 2.92 | 3.29 |

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| | | |
|:---|:---|:---|
| Indexes | 1 year | **Lifetime**<br>**(since fund's<br>inception)** |
| Bloomberg U.S. Aggregate Index (reflects no deductions for sales charges, account fees, expenses or U.S. federal income taxes) | 7.30% | 5.59% |
| ICE BofA 3-Month U.S. Treasury Bill Index (reflects no deductions for sales charges, account fees, expenses or U.S. federal income taxes) | 4.18 | 4.50 |

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After-tax returns are calculated using the highest individual federal income tax rates in effect during each year of the periods shown and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your individual tax situation and likely will differ from the results shown above.

Management

**Investment adviser** Capital Research and Management Company

 **Portfolio managers** The individuals primarily responsible for the portfolio management of the fund are:

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| | | |
|:---|:---|:---|
| **Portfolio manager/**<br>**Fund title (if applicable)** | **Portfolio manager**<br>**in this fund since:** | **Primary title**<br>**with investment adviser** |
| **Oliver V. Edmonds** | 2024 | Partner – Capital Fixed Income Investors |
| **Steven D. Lotwin** President | 2024 | Partner – Capital Fixed Income Investors |

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Purchase and sale of fund shares The fund is an exchange-traded fund ("ETF"). Individual shares of the fund may only be bought and sold in the secondary market through a broker-dealer at market price. Because ETF shares trade at market prices rather than at NAV, shares may trade at a price greater than NAV (a premium) or less than NAV (a discount). An investor may incur costs attributable to the difference between the highest price a buyer is willing to pay to purchase fund shares (bid) and the lowest price a seller is willing to accept for fund shares (ask) when buying or selling shares in the secondary market (the "bid-ask spread"). Recent information regarding the fund's NAV, market price, premiums and discounts, and bid-ask spread is available at capitalgroup.com/etf.

Tax information Dividends and capital gain distributions you receive from the fund are subject to federal income taxes and may also be subject to state and local taxes, unless you are tax-exempt or your account is tax-favored (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to broker-dealers and other financial intermediaries If you purchase shares of the fund through a broker-dealer or other financial intermediary (such as a bank), the fund's distributor or its affiliates may pay the intermediary for the sale of fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your individual financial professional to recommend the fund over another investment. Ask your individual financial professional or visit your financial intermediary's website for more information.

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 42

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**Capital Group U.S. Multi-Sector Income ETF**

Investment objectives The fund's investment objective is to provide a high level of current income. Its secondary investment objective is capital appreciation.

Fees and expenses of the fund This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.**

**Shareholder fees** **(fees paid directly from your investment)**

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| | |
|:---|:---|
| **Annual fund operating expenses\*** **(expenses that you pay each year as a percentage of the net asset value of your investment)** | **Annual fund operating expenses\*** **(expenses that you pay each year as a percentage of the net asset value of your investment)** |
| Management fees | 0.39% |
| Other expenses | 0.00 |
| Total annual fund operating expenses | 0.39 |

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\*The fund's Investment Advisory and Service Agreement provides that the investment adviser will pay all operating expenses of the fund, except for the management fees, interest expenses, taxes, acquired fund fees and expenses, costs of holding shareholder meetings, legal fees and expenses relating to arbitration or litigation, payments under the fund's 12b-1 plan (if any) and other non-routine or extraordinary expenses. Additionally, the fund will be responsible for its non-operating expenses, including brokerage commissions and fees and expenses associated with the fund's securities lending program, if any.

**Example** This example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds.

The example assumes that you invest $10,000 in the fund for the time periods indicated and then sell all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the fund's operating expenses remain the same. No fees are charged by the fund upon the sale of fund shares, so you would incur these hypothetical costs whether or not you were to sell your shares at the end of the given period. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

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| | | | |
|:---|:---|:---|:---|
| 1 year | 3 years | 5 years | 10 years |
| $40 | $125 | $219 | $493 |

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**Portfolio turnover** The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund's investment results. During the most recent fiscal year, the fund's portfolio turnover rate was 52% of the average value of its portfolio.

Principal investment strategies The fund normally invests at least 80% of its assets in the United States. The fund invests primarily in bonds and other debt instruments, which may be represented by derivatives. In seeking to achieve a high level of current income, the fund invests in a broad range of debt securities across the credit spectrum. Normally, the fund will invest its assets across three primary sectors: high-yield corporate debt, investment grade corporate debt and securitized debt. The proportion of securities held by the fund within each of these credit sectors will vary with market conditions and the investment adviser's assessment of their relative attractiveness as investment opportunities. The fund may opportunistically invest in other sectors including, but not limited to, U.S. government debt, municipal debt and non-corporate credit, in response to market conditions. The fund may invest in debt securities of any maturity or duration.

The fund may invest substantially in securities rated Ba1 or below and BB+ or below by Nationally Recognized Statistical Ratings Organizations designated by the fund's investment adviser, or in securities that are unrated but determined to be of equivalent quality by the fund's investment adviser. Such securities, sometimes referred to as "junk bonds," may be in the high-yield corporate debt sector or the securitized debt sector or any sector in which the fund may invest opportunistically. The fund may also invest up to 20% of its assets tied economically to countries outside the United States.

The fund may invest in futures contracts and swaps, which are types of derivatives. A derivative is a financial contract, the value of which is based on the value of an underlying financial asset (such as a stock, bond or currency), a reference rate or a market index.

The fund's assets are managed by a team of portfolio managers. Under this approach, the fund's managers work together to oversee the fund's entire portfolio. For more information regarding the investment process of the fund, see the "Management and organization" section of this prospectus.

The fund relies on the professional judgment of its investment adviser to make decisions about the fund's portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good investment opportunities. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.

43&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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Principal risks **This section describes the principal risks associated with investing in the fund. You may lose money by investing in the fund. The likelihood of loss may be greater if you invest for a shorter period of time.** 

*Market conditions* — The prices of, and the income generated by, the securities held by the fund may decline due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; and currency exchange rate, interest rate and commodity price fluctuations.

Economies and financial markets throughout the world are highly interconnected. Events (including public health emergencies, such as the spread of infectious disease), bank failures and other circumstances in one country or region 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 the issuer's financial condition or credit rating, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives and the market response to any such initiatives. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer.

*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 quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of callable debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change 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 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. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund's securities could cause the net asset 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.

*Investing in lower rated debt instruments* — Lower rated debt securities or instruments, rated Ba1/BB+ or below by Nationally Recognized Statistical Rating Organizations (also known as "junk bonds"), 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.

*Investing in mortgage-related and other asset-backed securities* — Mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, include debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as consumer loans or receivables. While such securities are subject to the risks associated with investments in debt instruments generally (for example, credit, extension and interest rate risks), they are also subject to other and different risks. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt, potentially increasing the volatility of the securities and the fund's net asset value. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the fund having to reinvest the proceeds in lower yielding securities, effectively reducing the fund's income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the fund's cash available for reinvestment in higher yielding securities. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations and the value of property that secures the mortgages may decline in value and be insufficient, upon foreclosure, to repay the associated loans. Investments in asset-backed securities are subject to similar risks.

*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 cause the fund to lose significantly more than 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. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 44

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*Exposure to country, region, industry or sector* — Subject to the fund's investment limitations, the fund may have significant exposure to a particular country, region, industry or sector. Such exposure may cause the fund to be more impacted by risks relating to and developments affecting the country, region, industry or sector, and thus its net asset value may be more volatile, than a fund without such levels of exposure. For example, if the fund has significant exposure in a particular country, then social, economic, regulatory or other issues that negatively affect that country may have a greater impact on the fund than on a fund that is more geographically diversified.

*Investing outside the United States* — Securities of issuers domiciled outside the United States or with significant operations or revenues outside the United States and securities tied economically to countries outside the United States may lose value because of adverse political, social, economic or market developments in the countries or regions in which the issuers are domiciled, operate or generate revenue or to which the securities are tied economically. 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, 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 United States. Investments outside the United States may also be subject to different accounting practices and different regulatory, legal, auditing, financial reporting and recordkeeping standards and practices, and may be more difficult to value, than those in the United States. In addition, the value of investments outside the United States may be reduced by foreign taxes. Further, there may be increased risks of delayed settlement of securities purchased or sold by the fund, which could impact the liquidity of the fund's portfolio.

*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 or difficult to determine, 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 to try to limit losses, or may be forced to sell at a loss. Depending on market conditions, reduced liquidity of fund holdings may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV.

*Interest rate risk* — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. 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. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

*Portfolio turnover* — The fund may engage in frequent and active trading of its portfolio securities. Higher portfolio turnover may involve correspondingly greater transaction costs in the form of dealer spreads, brokerage commissions and other transaction costs on the sale of securities and on reinvestment in other securities. The sale of portfolio securities may also result in the realization of net capital gains, which are taxable when distributed to shareholders, unless the shareholder is exempt from taxation or his or her account is tax-favored. These costs and tax effects may adversely affect the fund's returns to shareholders. The fund's portfolio turnover rate may vary from year to year, as well as within a year.

*Market trading* — The fund shares are listed for trading on an exchange and are bought and sold on the secondary market at market prices. The market prices of fund shares are expected to fluctuate, in some cases materially, in response to changes in the fund's net asset value ("NAV"), the intraday value of the fund's holdings, and supply and demand for the fund shares. The existence of significant market volatility, disruptions to creations and redemptions, or potential lack of an active trading market for fund shares and/or for the holdings of the fund (including through a trading halt), among other factors, may result in the shares trading significantly above (at a premium) or below (at a discount) to NAV and bid-ask spreads may widen. A bid-ask spread is the "spread" or difference between what investors are willing to pay for fund shares (the "bid" price) and the price at which they are willing to sell fund shares (the "ask" price). If you buy fund shares when their market price is at a premium or sell the fund shares when their market price is at a discount, you may pay more than, or receive less than, NAV, respectively.

Foreign securities held by the fund may be traded in markets that close at a different time than the exchange on which the fund's shares are listed. Liquidity in those securities may be reduced after the applicable closing times. Accordingly, during the time when the fund's exchange is open but after the applicable market closing, fixing or settlement times, bid-ask spreads on the fund's exchange and the corresponding premium or discount to the fund's NAV may widen.

*Authorized Participant concentration* — Only Authorized Participants (as defined in the "Shareholder information" section below) may engage in creation or redemption transactions directly with the fund, and none of them is obligated to do so. The fund has a limited number of institutions that may act as Authorized Participants. In addition, to the extent that securities held by the fund are traded outside a collateralized settlement system, Authorized Participants may be required to post collateral on certain trades on an agency basis (on behalf of other market participants), which only a limited number of Authorized Participants may be able to do. If Authorized Participants exit the business or are unable to or elect not to engage in creation or redemption transactions, and no other Authorized Participant engages in such function, fund shares may trade at a premium or discount to the fund's net asset value and/or at wider intraday bid-ask spreads and possibly face trading halts or delisting.

45&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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*Cash transactions* — The fund currently expects to effect at least part of its creations and redemptions for cash rather than in-kind securities. When the fund effects redemptions partly or wholly for cash, rather than in-kind, the fund may have to sell portfolio securities at inopportune times in order to obtain the cash needed to meet redemption orders. If the fund realizes gains on these sales, the fund generally will be required to recognize a gain it might not otherwise have recognized, or to recognize such gain sooner than would otherwise be required if it were to distribute portfolio securities in-kind. This strategy may cause shareholders to be subject to tax from distributions to which they would not otherwise be subject. The use of cash creations and redemptions may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV. As a result of such cash transactions, the fund could incur brokerage costs which, to the extent not offset by transaction fees that are payable by an Authorized Participant, may reduce the fund's NAV.

*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.

Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. You should consider how this fund fits into your overall investment program.

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 46

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Investment results The following bar chart shows how the fund's investment results have varied from year to year, and the following table shows how the fund's average annual total returns for various periods compare with a broad measure of securities market results and, if applicable, other measures of market results that reflect the fund's investment universe. This information provides some indication of the risks of investing in the fund. Past investment results (before and after taxes) are not predictive of future investment results. Updated information on the fund's investment results can be obtained by visiting capitalgroup.com/etf.

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| | | |
|:---|:---|:---|
| **Average annual total returns** **For the periods ended December 31, 2025:** | 1 year | Lifetime |
| Fund (inception date — 10/25/22) | 7.88% | 9.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;- After taxes on distributions | 5.27 | 6.91 |
| &nbsp;&nbsp;&nbsp;&nbsp;- After taxes on distributions and sale of fund shares | 4.61 | 6.19 |

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| | | |
|:---|:---|:---|
| Indexes | 1 year | **Lifetime**<br>**(since fund's<br>inception)** |
| Bloomberg U.S. Aggregate Index (reflects no deductions for sales charges, account fees, expenses or U.S. federal income taxes) | 7.30% | 5.55% |
| Bloomberg Custom Multi-Sector Composite Index (reflects no deductions for sales charges, account fees, expenses or U.S. federal income taxes) | 8.19 | 8.91 |

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After-tax returns are calculated using the highest individual federal income tax rates in effect during each year of the periods shown and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your individual tax situation and likely will differ from the results shown above.

Management

**Investment adviser** Capital Research and Management Company

 **Portfolio managers** The individuals primarily responsible for the portfolio management of the fund are:

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| | | |
|:---|:---|:---|
| **Portfolio manager/**<br>**Fund title (if applicable)** | **Portfolio manager**<br>**in this fund since:** | **Primary title**<br>**with investment adviser** |
| **Xavier Goss** | 2022 | Partner – Capital Fixed Income Investors |
| **Sandro Lazzarini** | 2025 | Partner – Capital Fixed Income Investors |
| **Damien J. McCann** President | 2022 | Partner – Capital Fixed Income Investors |
| **Scott Sykes** | 2022 | Partner – Capital Fixed Income Investors |
| **Shannon Ward** | 2022 | Partner – Capital Fixed Income Investors |

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Purchase and sale of fund shares The fund is an exchange-traded fund ("ETF"). Individual shares of the fund may only be bought and sold in the secondary market through a broker-dealer at market price. Because ETF shares trade at market prices rather than at NAV, shares may trade at a price greater than NAV (a premium) or less than NAV (a discount). An investor may incur costs attributable to the difference between the highest price a buyer is willing to pay to purchase fund shares (bid) and the lowest price a seller is willing to accept for fund shares (ask) when buying or selling shares in the secondary market (the "bid-ask spread"). Recent information regarding the fund's NAV, market price, premiums and discounts, and bid-ask spread is available at capitalgroup.com/etf.

Tax information Dividends and capital gain distributions you receive from the fund are subject to federal income taxes and may also be subject to state and local taxes, unless you are tax-exempt or your account is tax-favored (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to broker-dealers and other financial intermediaries If you purchase shares of the fund through a broker-dealer or other financial intermediary (such as a bank), the fund's distributor or its affiliates may pay the intermediary for the sale of fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your individual financial professional to recommend the fund over another investment. Ask your individual financial professional or visit your financial intermediary's website for more information.

47&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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Investment objectives, strategies and risks

**Capital Group Core Bond ETF** The fund's investment objective is to provide as high a level of current income as is consistent with the preservation of capital. While it has no present intention to do so, the fund's board may change the fund's investment objective without shareholder approval upon 60 days' prior written notice to shareholders.

The fund seeks to maximize your level of current income and preserve your capital by investing primarily in bonds. Normally the fund invests at least 80% of its assets in bonds and other debt securities (such as those described below), which may be represented by derivatives such as futures contracts and swaps. This policy is subject to change only upon 60 days' prior written notice to shareholders. The fund invests in debt securities (excluding derivatives) rated BBB- or better or Baa3 or better by Nationally Recognized Statistical Ratings Organizations designated by the fund's investment adviser, or in debt securities that are unrated but determined to be of equivalent quality by the fund's investment adviser, in each case at the time of purchase. The fund does not invest in securities rated Ba1 or below and BB+ or below by Nationally Recognized Statistical Ratings Organizations designated by the fund's investment adviser, or in securities that are unrated but determined to be of equivalent quality by the fund's investment adviser at the time of purchase. Such securities are sometimes referred to as "junk bonds."

The fund may invest in U.S. government securities such as treasuries which are backed by the full faith and credit of the U.S. government, as well as in debt securities and mortgage-backed securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government. The fund may invest in debt securities of any maturity or duration. Duration is a measure used to determine the sensitivity of a security's price to changes in interest rates. The longer a security's duration, the more sensitive it will be to changes in interest rates. For example, the price of a security with a duration of five years would be expected to fall approximately 5% if interest rates rose by one percentage point.

The fund may invest in inflation-linked bonds issued by U.S. and non-U.S. governments, their agencies or instrumentalities, and corporations. Inflation-linked bonds are structured to protect against inflation by linking the bond's principal and interest payments to an inflation index, such as the Consumer Price Index for Urban Consumers, so that principal and interest adjust to reflect changes in the index.

The fund may invest in futures contracts and swaps, which are types of derivatives. A derivative is a financial contract, the value of which is based on the value of an underlying financial asset (such as a stock, bond or currency), a reference rate or a market index.

The fund may invest in futures contracts and interest rate swaps in order to seek to manage the fund's sensitivity to interest rates, in total return swaps in order to gain exposure to a market without investing directly in such market, and in credit default swap indices, or CDSIs, in order to assume exposure to a diversified portfolio of credits or to hedge against existing credit risks. A futures contract is a standardized exchange-traded agreement to buy or sell a specific quantity of an underlying asset, rate or index at an agreed-upon price at a stipulated future date. An interest rate swap is an agreement between two parties to exchange or swap payments based on changes in one or more interest rates, one of which is typically fixed and the other of which is typically a floating rate based on a designated short-term interest rate, such as the Secured Overnight Financing Rate, prime rate or other benchmark. A total return swap is an agreement in which one party agrees to make periodic payments to the other party based on the change in market value of the assets underlying the contract in exchange for periodic payments based on a fixed or variable interest rate or the total return from other underlying assets. The fund may invest in total return swaps where the asset underlying the contract is a securities index. A CDSI is based on a portfolio of credit default swaps with similar characteristics, such as credit default swaps on high-yield bonds. In a typical CDSI transaction, one party – the protection buyer – is obligated to pay the other party – the protection seller – a stream of periodic payments over the term of the contract, provided generally that no credit event on an underlying reference obligation has occurred. If such a credit event has occurred, the protection seller must pay the protection buyer the loss on those credits.

The fund may also enter into currency transactions to provide for the purchase or sale of a currency needed to purchase a security denominated in such currency. In addition, the fund may enter into forward currency contracts to protect against changes in currency exchange rates, to increase exposure to a particular foreign currency, to shift exposure to currency fluctuations from one currency to another or to seek to increase returns. A forward currency contract is an agreement to purchase or sell a specific currency at a future date at a fixed price. The fund may also invest in future delivery contracts, including to-be-announced contracts.

The fund is nondiversified, which means it may invest a greater portion of its assets in fewer issuers than would otherwise be the case.

The fund relies on the professional judgment of its investment adviser to make decisions about the fund's portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good investment opportunities. The investment adviser believes that an important way to accomplish this is through fundamental research, which may include analysis of credit quality, general economic conditions and various quantitative measures and, in the case of corporate obligations, meeting with company executives and employees, suppliers, customers and competitors. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.

In addition to the principal investment strategies described above, the fund has other investment practices as described below and in the statement of additional information.

The fund may hold cash or cash equivalents, including commercial paper and short-term securities issued by the U.S. government, its agencies and instrumentalities. The percentage of the fund invested in such holdings varies and depends on various factors, including market conditions. The investment adviser may determine that it is appropriate to invest a substantial portion of the fund's assets in such instruments in response to certain circumstances, such as periods of market turmoil. For temporary defensive purposes, the fund may invest without limitation in such instruments. A larger percentage of such holdings could reduce the magnitude of the fund's gain in a period of rising market prices. Alternatively, a larger percentage of such holdings could reduce the magnitude of the fund's loss in a period of falling market prices and provide liquidity to make additional investments or to meet the fund's obligations.

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 48

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The fund may invest in certain other funds managed by the investment adviser or its affiliates ("Central Funds") to more effectively invest in a diversified set of securities in a specific asset class such as money market instruments, bonds and other securities. Shares of Central Funds are only offered for purchase to the fund's investment adviser and its affiliates and other funds, investment vehicles and accounts managed by the fund's investment adviser and its affiliates. Central Funds do not charge management fees. As a result, the fund does not bear additional management fees when investing in Central Funds, but the fund does bear its proportionate share of Central Fund expenses. The investment results of the portions of the fund's assets invested in the Central Funds will be based upon the investment results of the Central Funds.

The fund's investment adviser and its affiliates manage other funds and accounts with similar names, investment objectives and/or strategies. Certain investment processes among such funds and accounts and as compared to the fund may differ, depending on the applicable structures and related limitations and investment restrictions associated with a particular investment vehicle. The investment results of these funds and accounts will vary depending on a number of factors including, but not limited to, differences in investment processes, applicable fees and expenses, portfolio sizes, transaction costs, cash flows, currencies, taxes and portfolio holdings. For more information regarding the investment process of the fund, see the "Management and organization" section of this prospectus.

The investment adviser may consider environmental, social and governance ("ESG") factors that, depending on the facts and circumstances, are material to the value of an issuer or instrument. ESG factors may include, but are not limited to, environmental issues (e.g., water use, emission levels, waste, environmental remediation), social issues (e.g., human capital, health and safety, changing customer behavior) or governance issues (e.g., board composition, executive compensation, shareholder dilution).

The following are principal risks associated with investing in the fund.

*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 or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; 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), bank failures 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 the issuer's financial condition or credit rating, 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. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer. To the extent that the market prices of securities of issuers in the same or related industries or sectors tend to move in the same direction at the same time, and these issuers make up a sizeable portion of the market, events affecting one issuer, industry or sector or the securities markets generally may have a larger impact. If such issuers represent a substantial portion of major market indices, or the economy, a downturn in the prices of their securities may have a disproportionate adverse effect on the overall market, even if other segments of the market perform well. The fund's portfolio managers invest in issuers based on their level of investment conviction. At times, the fund may invest more significantly in a single issuer, which could increase the fund's volatility and the risk of loss arising from the factors described above.

*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 quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change 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 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. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund's securities could cause the net asset 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 assessing credit and default risks.

49&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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*Investing in mortgage-related and other asset-backed securities* — Mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, include debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as residential mortgage loans, home equity loans, mortgages on commercial buildings, consumer loans and equipment leases. While such securities are subject to the risks associated with investments in debt instruments generally (for example, credit, extension and interest rate risks), they are also subject to other and different risks. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt, potentially increasing the volatility of the securities and the fund's net asset value. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the fund having to reinvest the proceeds in lower yielding securities, effectively reducing the fund's income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the fund's cash available for reinvestment in higher yielding securities. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations and the value of property that secures the mortgages may decline in value and be insufficient, upon foreclosure, to repay the associated loans. Investments in asset-backed securities are subject to similar risks, as well as additional risks associated with the assets underlying those securities.

*Investing in securities backed by the U.S. government* — U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates and the credit rating of the U.S. government. Notwithstanding that these securities are backed by the full faith and credit of the U.S. government, circumstances could arise that would prevent or delay the payment of interest or principal on these securities, which could adversely affect their value and cause the fund to suffer losses. Such an event could lead to significant disruptions in U.S. and global markets.

Securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government.

*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 or difficult to determine, 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 to try to limit losses, or may be forced to sell at a loss. Depending on market conditions, reduced liquidity of fund holdings may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV.

*Investing outside the United States* — Securities of issuers domiciled outside the United States or with significant operations or revenues outside the United States, and securities tied economically to countries outside the United States, 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 are domiciled, operate or generate revenue or to which the securities are tied economically. 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, sanctions, 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 United States. Investments outside the United States may also be subject to different regulatory, legal, accounting, auditing, financial reporting and recordkeeping requirements, and may be more difficult to value, than those in the United States. In addition, the value of investments outside the United States 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, which could impact the liquidity of the fund's portfolio. The risks of investing outside the United States may be heightened in connection with investments in emerging markets.

*Investments in future delivery contracts* — The fund may enter into transactions involving future delivery contracts, such as to-be-announced (TBA) contracts and mortgage dollar rolls. These contracts involve the purchase or sale of mortgage-backed securities for settlement at a future date and predetermined price. When the fund enters into a TBA commitment for the sale of mortgage-backed securities (which may be referred to as having a short position in such TBA securities), the fund may or may not hold the types of mortgage-backed securities required to be delivered. The fund may choose to roll these transactions in lieu of settling them.

When the fund rolls the purchase of these types of future delivery transactions, the fund simultaneously sells the mortgage-backed securities for delivery in the current month and repurchases substantially similar securities for delivery at a future date at a predetermined price. When the fund rolls the sale of these transactions rather than settling them, the fund simultaneously purchases the mortgage-backed securities for delivery in the current month and sells substantially similar securities for delivery at a future date at a predetermined price. Such roll transactions can increase the turnover rate of the fund and may increase the risk that market prices may move unfavorably between the original and new contracts, potentially resulting in losses or reduced returns for the fund.

*Investing in futures contracts* — In addition to the risks generally associated with investing in derivative instruments, futures contracts are subject to the creditworthiness of the clearing organizations, exchanges and futures commission merchants with which the fund transacts. Additionally, although futures require only a small initial investment in the form of a deposit of initial margin, the amount of a potential loss on a futures contract could greatly exceed the initial amount invested. While futures contracts are generally liquid instruments, under certain market conditions futures may be deemed to be illiquid. For example, the fund may be temporarily prohibited from closing out its position in a futures contract if intraday price change limits or limits on trading volume imposed by the applicable futures exchange are triggered. If the fund is unable to close out a position on a futures contract, the fund would remain subject to the risk of adverse price

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 50

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movements until the fund is able to close out the futures position. The ability of the fund to successfully utilize futures contracts may depend in part upon the ability of the fund's investment adviser to accurately forecast interest rates and other economic factors and to assess and predict the impact of such economic factors on the futures in which the fund invests. If the investment adviser incorrectly forecasts economic developments or incorrectly predicts the impact of such developments on the futures in which it invests, the fund could suffer 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 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 cause the fund to lose significantly more than 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. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

*Interest rate risk* — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. 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. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

*Market trading* — While the fund shares are listed for trading on an exchange, there can be no assurance that an active trading market for such shares will develop or be maintained by market makers or Authorized Participants, or that the fund's shares will continue to meet the requirements for listing or trading on any exchange or in any market. Trading in shares on the exchange may be halted due to market conditions or for reasons that, in the view of the exchange, make trading in the fund shares inadvisable.

The market prices of fund shares are expected to fluctuate, in some cases materially, in response to changes in the fund's NAV, the intraday value of the fund's holdings, and supply and demand for the fund shares. While the creation and redemption feature of the fund is designed to make it more likely that the fund's shares will typically trade on stock exchanges at prices close to the fund's next calculated NAV, the existence of significant market volatility, disruptions to creations and redemptions, adverse developments impacting market makers, Authorized Participants or other market participants or potential lack of an active trading market for fund shares and/or for the holdings of the fund (including through a trading halt), among other factors, may result in the shares trading at a significant premium or discount to NAV. If you buy fund shares when the market price is at a premium or sell fund shares when the market price is at a discount, you may pay more than, or receive less than, NAV, respectively.

Foreign securities held by the fund may be traded in markets that close at a different time than the exchange on which the fund shares are listed. Liquidity in those securities may be reduced after the applicable closing times. Accordingly, during the time when the fund's exchange is open but after the applicable market closing, fixing or settlement times, bid-ask spreads on the fund's exchange and the corresponding premium or discount to the fund's NAV may widen.

When buying or selling fund shares through a broker, you may incur a brokerage commission or other charges, including the cost of the "spread" between what investors are willing to pay for fund shares (the "bid" price) and the price at which they are willing to sell fund shares (the "ask" price). The spread is wider where the fund has less trading volume and market liquidity. During times of significant market volatility or market disruption, including when trading of the fund's holdings may be halted, the bid-ask spread may increase significantly and cause fund shares to trade at a significant discount to the fund's NAV. These risks are exacerbated when the fund is small. Additionally, like shares of other issuers listed on a stock exchange, fund shares may be sold short and are therefore subject to the risk of increased volatility and price decreases associated with being sold short.

*Authorized Participant concentration* — Only Authorized Participants (as defined in the "Shareholder information" section below) may engage in creation or redemption transactions directly with the fund, and none of them is obligated to do so. The fund has a limited

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number of institutions that may act as Authorized Participants. In addition, to the extent that securities held by the fund are traded outside a collateralized settlement system, Authorized Participants may be required to post collateral on certain trades on an agency basis (on behalf of other market participants), which only a limited number of Authorized Participants may be able to do. If Authorized Participants exit the business or are unable to or elect not to engage in creation or redemption transactions, and no other Authorized Participant engages in such function, fund shares may trade at a premium or discount to the fund's net asset value and/or at wider intraday bid-ask spreads and possibly face trading halts or delisting.

*Nondiversification* — As a nondiversified fund, the fund may invest a greater percentage of its assets in fewer issuers than a diversified fund. A fund that invests in a relatively smaller number of issuers is more susceptible to risks associated with a single economic, political, geographic or regulatory occurrence than a diversified fund might be. In addition, poor performance by a single issuer could adversely affect fund performance more than if the fund were invested in a larger number of issuers. The value of the fund's shares can be expected to fluctuate more than might be the case if the fund were more broadly diversified.

*Cash transactions* — The fund currently expects to effect at least part of its creations and redemptions for cash rather than in-kind securities. When the fund effects redemptions partly or wholly for cash, rather than in-kind, the fund may have to sell portfolio securities at inopportune times in order to obtain the cash needed to meet redemption orders. If the fund realizes gains on these sales, the fund generally will be required to recognize a gain it might not otherwise have recognized, or to recognize such gain sooner than would otherwise be required if it were to distribute portfolio securities in-kind. This strategy may cause shareholders to be subject to tax from distributions to which they would not otherwise be subject. The use of cash creations and redemptions may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV. As a result of such cash transactions, the fund could incur brokerage costs which, to the extent not offset by transaction fees that are payable by an Authorized Participant, may reduce the fund's NAV.

*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.

The following are additional risks associated with investing in the fund.

*Investing in swaps* — Swaps, including interest rate swaps, total return swaps and credit default swap indices, or CDSIs, are subject to many of the risks generally associated with investing in derivative instruments. Additionally, although swaps require no initial investment or only a small initial investment in the form of a deposit of initial margin, the amount of a potential loss on a swap could greatly exceed the initial amount invested. The use of swaps involves the risk that the investment adviser will not accurately predict anticipated changes in interest rates or other economic factors, which may result in losses to the fund. If the fund enters into a bilaterally negotiated swap, the counterparty may fail to perform in accordance with the terms of the swap. If a counterparty defaults on its obligations under a swap, the fund may lose any amount it expected to receive from the counterparty, potentially including amounts in excess of the fund's initial investment. Certain swaps are subject to mandatory central clearing or may be eligible for voluntary central clearing. Although clearing interposes a central clearinghouse as the ultimate counterparty to each participant's swap, central clearing will not eliminate (but may decrease) counterparty risk relative to uncleared bilateral swaps. Some swaps, such as CDSIs, may be dependent on both the individual credit of the fund's counterparty and on the credit of one or more issuers of any underlying assets. If the fund does not correctly evaluate the creditworthiness of its counterparty and, where applicable, of issuers of any underlying reference assets, the fund's investment in a swap may result in losses to the fund.

*Currency transactions* — In addition to the risks generally associated with investing in derivative instruments, the use of forward currency contracts involves the risk that currency movements will not be accurately predicted by the investment adviser, which could result in losses to the fund. While entering into forward currency contracts could minimize the risk of loss due to a decline in the value of the hedged currency, it could also limit any potential gain that may result from an increase in the value of the currency. Additionally, the adviser may use forward currency contracts to increase exposure to a certain currency or to shift exposure to currency fluctuations from one country to another. Forward currency contracts may expose the fund to potential gains and losses in excess of the initial amount invested.

*Exposure to country, region, industry or sector* — Subject to the fund's investment limitations, the fund may have significant exposure to a particular country, region, industry or sector. Such exposure may cause the fund to be more impacted by risks relating to and developments affecting the country, region, industry or sector, and thus its net asset value may be more volatile, than a fund without such levels of exposure. For example, if the fund has significant exposure in a particular country, then social, economic, regulatory or other issues that negatively affect that country may have a greater impact on the fund than on a fund that is more geographically diversified.

*Large shareholder concentration* — Certain shareholders, including other funds or accounts advised by the investment adviser, may from time to time own a substantial number of the fund's shares. If any such large shareholder sells or redeems (through an Authorized Participant) its investment and the fund fails to maintain a certain level of size or scale, the fund may be negatively impacted.

*Cybersecurity breaches* — The fund may be subject to operational and information security risks through breaches in cybersecurity. Cybersecurity breaches can result from deliberate attacks or unintentional events, including "ransomware" attacks, the injection of computer viruses or malicious software code, the use of vulnerabilities in code to gain unauthorized access to digital information systems, networks or devices, or external attacks such as denial-of-service attacks on the investment adviser's or an affiliate's website that could render the fund's network services unavailable to intended end-users. These breaches may, among other things, lead to the unauthorized release of confidential information, misuse of the fund's assets or sensitive information, the disruption of the fund's operational capacity, the inability of fund shareholders to transact business, or the destruction of the fund's physical infrastructure, equipment or operating systems. These events could cause the fund to violate applicable privacy and other laws and could subject the fund to reputational

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damage, additional costs associated with corrective measures and/or financial loss. The fund may also be subject to additional risks if its third-party service providers, such as the fund's investment adviser, transfer agent, custodian, administrators and other financial intermediaries (including Authorized Participants), experience similar cybersecurity breaches and potential outcomes. Cybersecurity risks may also impact issuers of securities in which the fund invests, which may cause the fund's investments in such issuers to lose value.

*Portfolio turnover* — The fund may engage in frequent and active trading of its portfolio securities. Higher portfolio turnover may involve correspondingly greater transaction costs in the form of dealer spreads, brokerage commissions and other transaction costs on the sale of securities and on reinvestment in other securities. The sale of portfolio securities may also result in the realization of net capital gains, which are taxable when distributed to shareholders, unless the shareholder is exempt from taxation or his or her account is tax-favored. These costs and tax effects may adversely affect the fund's returns to shareholders. The fund's portfolio turnover rate may vary from year to year, as well as within a year.

In addition to the investment strategies described above, the fund has other investment practices that are described in the statement of additional information, which includes a description of other risks related to the fund's investment strategies and other investment practices. The fund's investment results will depend on the ability of the fund's investment adviser to navigate the risks discussed above as well as those described in the statement of additional information.

**Fund comparative indexes** The investment results table in this prospectus shows how the fund's average annual total returns compare with a broad measure of market results and, if applicable, other measures of market results that reflect the fund's investment universe. The Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. This index is unmanaged, and its results include reinvested dividends and/or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes.

**Fund results** All fund results in this prospectus reflect the reinvestment of dividends and capital gain distributions, if any.

**Capital Group Core Plus Income ETF** The fund's investment objective is to provide current income and seek maximum total return, consistent with preservation of capital. While it has no present intention to do so, the fund's board may change the fund's investment objective without shareholder approval upon 60 days' prior written notice to shareholders.

The fund will normally invest at least 80% of its assets in bonds and other debt securities, which may be represented by derivatives. The fund may invest in a broad range of debt securities, including corporate bonds and debt and mortgage- and other asset-backed securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government. The fund may invest in debt securities of any maturity or duration. Maturity refers to the date when the issuer must repay the outstanding principal of a bond or other debt security. Duration is a measure used to determine the sensitivity of a security's price to changes in interest rates. The longer a security's duration, the more sensitive it will be to changes in interest rates.

The fund may invest in inflation-linked bonds issued by U.S. and non-U.S. governments, their agencies or instrumentalities, and corporations. Inflation-linked bonds are structured to protect against inflation by linking the bond's principal and interest payments to an inflation index, such as the Consumer Price Index for Urban Consumers, so that principal and interest adjust to reflect changes in the index.

The fund may invest in forward currency contracts, futures contracts and swaps, which are types of derivatives. A derivative is a financial contract, the value of which is based on the value of an underlying financial asset (such as a stock, bond or currency), a reference rate or a market index.

The fund may invest in futures contracts and interest rate swaps in order to seek to manage the fund's sensitivity to interest rates, in total return swaps in order to gain exposure to a market without investing directly in such market, and in credit default swap indices, or CDSIs, in order to assume exposure to a diversified portfolio of credits or to hedge against existing credit risks. A futures contract is a standardized exchange-traded agreement to buy or sell a specific quantity of an underlying asset, rate or index at an agreed-upon price at a stipulated future date. An interest rate swap is an agreement between two parties to exchange or swap payments based on changes in one or more interest rates, one of which is typically fixed and the other of which is typically a floating rate based on a designated short-term interest rate, such as the Secured Overnight Financing Rate, prime rate or other benchmark. A total return swap is an agreement in which one party agrees to make periodic payments to the other party based on the change in market value of the assets underlying the contract in exchange for periodic payments based on a fixed or variable interest rate or the total return from other underlying assets. The fund may invest in total return swaps where the asset underlying the contract is a securities index. A CDSI is based on a portfolio of credit default swaps with similar characteristics, such as credit default swaps on high-yield bonds. In a typical CDSI transaction, one party – the protection buyer – is obligated to pay the other party – the protection seller – a stream of periodic payments over the term of the contract, provided generally that no credit event on an underlying reference obligation has occurred. If such a credit event has occurred, the protection seller must pay the protection buyer the loss on those credits.

The fund may also enter into currency transactions to provide for the purchase or sale of a currency needed to purchase a security denominated in such currency. In addition, the fund may enter into forward currency contracts to protect against changes in currency exchange rates, to increase exposure to a particular foreign currency, to shift exposure to currency fluctuations from one currency to another or to seek to increase returns. A forward currency contract is an agreement to purchase or sell a specific currency at a future date at a fixed price.

The fund will invest no more than 35% of its assets in lower rated debt instruments, which are securities rated Ba1 or below and BB+ or below by Nationally Recognized Statistical Ratings Organizations designated by the fund's investment adviser, or in securities that are unrated but determined to be of equivalent quality by the fund's investment adviser. Such securities are sometimes referred to as "junk bonds." The fund may invest up to 35% of its assets in securities denominated in currencies other than the U.S. dollar and up to 35% of its assets in securities of emerging market issuers.

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The fund may engage in active and frequent trading of portfolio securities to achieve its primary investment strategies.

The fund relies on the professional judgment of its investment adviser to make decisions about the fund's portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good investment opportunities. The investment adviser believes that an important way to accomplish this is through fundamental research, which may include analysis of credit quality, general economic conditions and various quantitative measures and, in the case of corporate obligations, meeting with company executives and employees, suppliers, customers and competitors. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.

In addition to the principal investment strategies described above, the fund has other investment practices as described below and in the statement of additional information.

The fund may hold cash or cash equivalents, including commercial paper and short-term securities issued by the U.S. government, its agencies and instrumentalities. The percentage of the fund invested in such holdings varies and depends on various factors, including market conditions. The investment adviser may determine that it is appropriate to invest a substantial portion of the fund's assets in such instruments in response to certain circumstances, such as periods of market turmoil. For temporary defensive purposes, the fund may invest without limitation in such instruments. A larger percentage of such holdings could reduce the magnitude of the fund's gain in a period of rising market prices. Alternatively, a larger percentage of such holdings could reduce the magnitude of the fund's loss in a period of falling market prices and provide liquidity to make additional investments or to meet the fund's obligations.

The fund may invest in certain other funds managed by the investment adviser or its affiliates ("Central Funds") to more effectively invest in a diversified set of securities in a specific asset class such as money market instruments, bonds and other securities. Shares of Central Funds are only offered for purchase to the fund's investment adviser and its affiliates and other funds, investment vehicles and accounts managed by the fund's investment adviser and its affiliates. Central Funds do not charge management fees. As a result, the fund does not bear additional management fees when investing in Central Funds, but the fund does bear its proportionate share of Central Fund expenses. The investment results of the portions of the fund's assets invested in the Central Funds will be based upon the investment results of the Central Funds.

The fund's investment adviser and its affiliates manage other funds and accounts with similar names, investment objectives and/or strategies. Certain investment processes among such funds and accounts and as compared to the fund may differ, depending on the applicable structures and related limitations and investment restrictions associated with a particular investment vehicle. The investment results of these funds and accounts will vary depending on a number of factors including, but not limited to, differences in investment processes, applicable fees and expenses, portfolio sizes, transaction costs, cash flows, currencies, taxes and portfolio holdings. For more information regarding the investment process of the fund, see the "Management and organization" section of this prospectus.

The investment adviser may consider environmental, social and governance ("ESG") factors that, depending on the facts and circumstances, are material to the value of an issuer or instrument. ESG factors may include, but are not limited to, environmental issues (e.g., water use, emission levels, waste, environmental remediation), social issues (e.g., human capital, health and safety, changing customer behavior) or governance issues (e.g., board composition, executive compensation, shareholder dilution).

The following are principal risks associated with investing in the fund.

*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 or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; 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), bank failures 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 the issuer's financial condition or credit rating, 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. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer. To the extent that the market prices of securities of issuers in the same or related industries or sectors tend to move in the same direction at the same time, and these issuers make up a sizeable portion of the market, events affecting one issuer, industry or sector or the securities markets generally may have a larger impact. If such issuers represent a substantial portion of major market indices, or the economy, a downturn in the prices of their securities may have a disproportionate adverse effect on the overall market, even if other segments of the market perform well. The fund's portfolio managers invest in issuers based on their level of investment conviction. At times, the fund may invest more significantly in a single issuer, which could increase the fund's volatility and the risk of loss arising from the factors described above.

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*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 quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change 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 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. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund's securities could cause the net asset 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 assessing credit and default risks.

*Investing in lower rated debt instruments* — Lower rated debt securities or instruments, rated Ba1/BB+ or below by Nationally Recognized Statistical Rating Organizations (also known as "junk bonds"), 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.

*Investing in securities backed by the U.S. government* — U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates and the credit rating of the U.S. government. Notwithstanding that these securities are backed by the full faith and credit of the U.S. government, circumstances could arise that would prevent or delay the payment of interest or principal on these securities, which could adversely affect their value and cause the fund to suffer losses. Such an event could lead to significant disruptions in U.S. and global markets.

Securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government.

*Investing in mortgage-related and other asset-backed securities* — Mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, include debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as residential mortgage loans, home equity loans, mortgages on commercial buildings, consumer loans and equipment leases. While such securities are subject to the risks associated with investments in debt instruments generally (for example, credit, extension and interest rate risks), they are also subject to other and different risks. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt, potentially increasing the volatility of the securities and the fund's net asset value. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the fund having to reinvest the proceeds in lower yielding securities, effectively reducing the fund's income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the fund's cash available for reinvestment in higher yielding securities. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations and the value of property that secures the mortgages may decline in value and be insufficient, upon foreclosure, to repay the associated loans. Investments in asset-backed securities are subject to similar risks, as well as additional risks associated with the assets underlying those securities.

*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.

*Investments in future delivery contracts* — The fund may enter into transactions involving future delivery contracts, such as to-be-announced (TBA) contracts and mortgage dollar rolls. These contracts involve the purchase or sale of mortgage-backed securities for settlement at a future date and predetermined price. When the fund enters into a TBA commitment for the sale of mortgage-backed securities (which may be referred to as having a short position in such TBA securities), the fund may or may not hold the types of mortgage-backed securities required to be delivered. The fund may choose to roll these transactions in lieu of settling them.

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When the fund rolls the purchase of these types of future delivery transactions, the fund simultaneously sells the mortgage-backed securities for delivery in the current month and repurchases substantially similar securities for delivery at a future date at a predetermined price. When the fund rolls the sale of these transactions rather than settling them, the fund simultaneously purchases the mortgage-backed securities for delivery in the current month and sells substantially similar securities for delivery at a future date at a predetermined price. Such roll transactions can increase the turnover rate of the fund and may increase the risk that market prices may move unfavorably between the original and new contracts, potentially resulting in losses or reduced returns for the 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 cause the fund to lose significantly more than 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. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

*Investing outside the United States* — Securities of issuers domiciled outside the United States or with significant operations or revenues outside the United States, and securities tied economically to countries outside the United States, 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 are domiciled, operate or generate revenue or to which the securities are tied economically. 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, sanctions, 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 United States. Investments outside the United States may also be subject to different regulatory, legal, accounting, auditing, financial reporting and recordkeeping requirements, and may be more difficult to value, than those in the United States. In addition, the value of investments outside the United States 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, which could impact the liquidity of the fund's portfolio. The risks of investing outside the United States 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 tend to have less developed political, economic and legal systems than those in developed countries. Accordingly, the governments of these countries may be less stable and more likely to intervene in the market economy, for example, by imposing capital controls, nationalizing a company or industry, placing restrictions on foreign ownership and on withdrawing sale proceeds of securities from the country, and/or imposing punitive taxes that could adversely affect the prices of securities. Information regarding issuers in emerging markets may be limited, incomplete or inaccurate, and such issuers may not be subject to regulatory, accounting, auditing, and financial reporting and recordkeeping standards comparable to those to which issuers in more developed markets are subject. The fund's rights with respect to its investments in emerging markets, if any, will generally be governed by local law, which may make it difficult or impossible for the fund to pursue legal remedies or to obtain and enforce judgments in local courts. In addition, the economies of these countries may be dependent on relatively few industries, may have limited access to capital and may be more susceptible to changes in local and global trade conditions and downturns in the world economy. 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, more vulnerable to market manipulation, and 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.

*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.

*Interest rate risk* — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. 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. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

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*Portfolio turnover* — The fund may engage in frequent and active trading of its portfolio securities. Higher portfolio turnover may involve correspondingly greater transaction costs in the form of dealer spreads, brokerage commissions and other transaction costs on the sale of securities and on reinvestment in other securities. The sale of portfolio securities may also result in the realization of net capital gains, which are taxable when distributed to shareholders, unless the shareholder is exempt from taxation or his or her account is tax-favored. These costs and tax effects may adversely affect the fund's returns to shareholders. The fund's portfolio turnover rate may vary from year to year, as well as within a year.

*Market trading* — While the fund shares are listed for trading on an exchange, there can be no assurance that an active trading market for such shares will develop or be maintained by market makers or Authorized Participants, or that the fund's shares will continue to meet the requirements for listing or trading on any exchange or in any market. Trading in shares on the exchange may be halted due to market conditions or for reasons that, in the view of the exchange, make trading in the fund shares inadvisable.

The market prices of fund shares are expected to fluctuate, in some cases materially, in response to changes in the fund's NAV, the intraday value of the fund's holdings, and supply and demand for the fund shares. While the creation and redemption feature of the fund is designed to make it more likely that the fund's shares will typically trade on stock exchanges at prices close to the fund's next calculated NAV, the existence of significant market volatility, disruptions to creations and redemptions, adverse developments impacting market makers, Authorized Participants or other market participants or potential lack of an active trading market for fund shares and/or for the holdings of the fund (including through a trading halt), among other factors, may result in the shares trading at a significant premium or discount to NAV. If you buy fund shares when the market price is at a premium or sell fund shares when the market price is at a discount, you may pay more than, or receive less than, NAV, respectively.

Foreign securities held by the fund may be traded in markets that close at a different time than the exchange on which the fund shares are listed. Liquidity in those securities may be reduced after the applicable closing times. Accordingly, during the time when the fund's exchange is open but after the applicable market closing, fixing or settlement times, bid-ask spreads on the fund's exchange and the corresponding premium or discount to the fund's NAV may widen.

When buying or selling fund shares through a broker, you may incur a brokerage commission or other charges, including the cost of the "spread" between what investors are willing to pay for fund shares (the "bid" price) and the price at which they are willing to sell fund shares (the "ask" price). The spread is wider where the fund has less trading volume and market liquidity. During times of significant market volatility or market disruption, including when trading of the fund's holdings may be halted, the bid-ask spread may increase significantly and cause fund shares to trade at a significant discount to the fund's NAV. These risks are exacerbated when the fund is small. Additionally, like shares of other issuers listed on a stock exchange, fund shares may be sold short and are therefore subject to the risk of increased volatility and price decreases associated with being sold short.

*Authorized Participant concentration* — Only Authorized Participants (as defined in the "Shareholder information" section below) may engage in creation or redemption transactions directly with the fund, and none of them is obligated to do so. The fund has a limited number of institutions that may act as Authorized Participants. In addition, to the extent that securities held by the fund are traded outside a collateralized settlement system, Authorized Participants may be required to post collateral on certain trades on an agency basis (on behalf of other market participants), which only a limited number of Authorized Participants may be able to do. If Authorized Participants exit the business or are unable to or elect not to engage in creation or redemption transactions, and no other Authorized Participant engages in such function, fund shares may trade at a premium or discount to the fund's net asset value and/or at wider intraday bid-ask spreads and possibly face trading halts or delisting.

*Cash transactions* — The fund currently expects to effect at least part of its creations and redemptions for cash rather than in-kind securities. When the fund effects redemptions partly or wholly for cash, rather than in-kind, the fund may have to sell portfolio securities at inopportune times in order to obtain the cash needed to meet redemption orders. If the fund realizes gains on these sales, the fund generally will be required to recognize a gain it might not otherwise have recognized, or to recognize such gain sooner than would otherwise be required if it were to distribute portfolio securities in-kind. This strategy may cause shareholders to be subject to tax from distributions to which they would not otherwise be subject. The use of cash creations and redemptions may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV. As a result of such cash transactions, the fund could incur brokerage costs which, to the extent not offset by transaction fees that are payable by an Authorized Participant, may reduce the fund's NAV.

*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.

The following are additional risks associated with investing in the fund.

*Investing in futures contracts* — In addition to the risks generally associated with investing in derivative instruments, futures contracts are subject to the creditworthiness of the clearing organizations, exchanges and futures commission merchants with which the fund transacts. Additionally, although futures require only a small initial investment in the form of a deposit of initial margin, the amount of a potential loss on a futures contract could greatly exceed the initial amount invested. While futures contracts are generally liquid instruments, under certain market conditions futures may be deemed to be illiquid. For example, the fund may be temporarily prohibited from closing out its position in a futures contract if intraday price change limits or limits on trading volume imposed by the applicable futures exchange are triggered. If the fund is unable to close out a position on a futures contract, the fund would remain subject to the risk of adverse price movements until the fund is able to close out the futures position. The ability of the fund to successfully utilize futures contracts may depend in part upon the ability of the fund's investment adviser to accurately forecast interest rates and other economic factors and to

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assess and predict the impact of such economic factors on the futures in which the fund invests. If the investment adviser incorrectly forecasts economic developments or incorrectly predicts the impact of such developments on the futures in which it invests, the fund could suffer losses.

*Investing in swaps* — Swaps, including interest rate swaps, total return swaps and credit default swap indices, or CDSIs, are subject to many of the risks generally associated with investing in derivative instruments. Additionally, although swaps require no initial investment or only a small initial investment in the form of a deposit of initial margin, the amount of a potential loss on a swap could greatly exceed the initial amount invested. The use of swaps involves the risk that the investment adviser will not accurately predict anticipated changes in interest rates or other economic factors, which may result in losses to the fund. If the fund enters into a bilaterally negotiated swap, the counterparty may fail to perform in accordance with the terms of the swap. If a counterparty defaults on its obligations under a swap, the fund may lose any amount it expected to receive from the counterparty, potentially including amounts in excess of the fund's initial investment. Certain swaps are subject to mandatory central clearing or may be eligible for voluntary central clearing. Although clearing interposes a central clearinghouse as the ultimate counterparty to each participant's swap, central clearing will not eliminate (but may decrease) counterparty risk relative to uncleared bilateral swaps. Some swaps, such as CDSIs, may be dependent on both the individual credit of the fund's counterparty and on the credit of one or more issuers of any underlying assets. If the fund does not correctly evaluate the creditworthiness of its counterparty and, where applicable, of issuers of any underlying reference assets, the fund's investment in a swap may result in losses to the fund.

*Currency transactions* — In addition to the risks generally associated with investing in derivative instruments, the use of forward currency contracts involves the risk that currency movements will not be accurately predicted by the investment adviser, which could result in losses to the fund. While entering into forward currency contracts could minimize the risk of loss due to a decline in the value of the hedged currency, it could also limit any potential gain that may result from an increase in the value of the currency. Additionally, the adviser may use forward currency contracts to increase exposure to a certain currency or to shift exposure to currency fluctuations from one country to another. Forward currency contracts may expose the fund to potential gains and losses in excess of the initial amount invested.

*Exposure to country, region, industry or sector* — Subject to the fund's investment limitations, the fund may have significant exposure to a particular country, region, industry or sector. Such exposure may cause the fund to be more impacted by risks relating to and developments affecting the country, region, industry or sector, and thus its net asset value may be more volatile, than a fund without such levels of exposure. For example, if the fund has significant exposure in a particular country, then social, economic, regulatory or other issues that negatively affect that country may have a greater impact on the fund than on a fund that is more geographically diversified.

*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 or difficult to determine, 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 to try to limit losses, or may be forced to sell at a loss. Depending on market conditions, reduced liquidity of fund holdings may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV.

*Large shareholder concentration* — Certain shareholders, including other funds or accounts advised by the investment adviser, may from time to time own a substantial number of the fund's shares. In addition, a third party investor, the fund's investment adviser, an Authorized Participant, a lead market maker, or another entity may invest in the fund and hold its investment for a limited time solely to facilitate the commencement of the fund or the fund's achieving a specified size or scale. If any such large shareholder sells or redeems (through an Authorized Participant) its investment and the fund fails to maintain a certain level of size or scale, the fund may be negatively impacted.

*Cybersecurity breaches* — The fund may be subject to operational and information security risks through breaches in cybersecurity. Cybersecurity breaches can result from deliberate attacks or unintentional events, including "ransomware" attacks, the injection of computer viruses or malicious software code, the use of vulnerabilities in code to gain unauthorized access to digital information systems, networks or devices, or external attacks such as denial-of-service attacks on the investment adviser's or an affiliate's website that could render the fund's network services unavailable to intended end-users. These breaches may, among other things, lead to the unauthorized release of confidential information, misuse of the fund's assets or sensitive information, the disruption of the fund's operational capacity, the inability of fund shareholders to transact business, or the destruction of the fund's physical infrastructure, equipment or operating systems. These events could cause the fund to violate applicable privacy and other laws and could subject the fund to reputational damage, additional costs associated with corrective measures and/or financial loss. The fund may also be subject to additional risks if its third-party service providers, such as the fund's investment adviser, transfer agent, custodian, administrators and other financial intermediaries (including Authorized Participants), experience similar cybersecurity breaches and potential outcomes. Cybersecurity risks may also impact issuers of securities in which the fund invests, which may cause the fund's investments in such issuers to lose value.

In addition to the investment strategies described above, the fund has other investment practices that are described in the statement of additional information, which includes a description of other risks related to the fund's investment strategies and other investment practices. The fund's investment results will depend on the ability of the fund's investment adviser to navigate the risks discussed above as well as those described in the statement of additional information.

**Fund comparative indexes** The investment results table in this prospectus shows how the fund's average annual total returns compare with a broad measure of market results and, if applicable, other measures of market results that reflect the fund's investment universe. The Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. This index is unmanaged, and its results

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include reinvested dividends and/or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes.

**Fund results** All fund results in this prospectus reflect the reinvestment of dividends and capital gain distributions, if any.

**Capital Group High Yield Bond ETF**

The fund's investment objective is to provide a high level of current income. Its secondary investment objective is capital appreciation. While it has no present intention to do so, the fund's board may change the fund's investment objectives without shareholder approval upon 60 days' prior written notice to shareholders.

The fund invests at least 80% of its assets in higher yielding and generally lower quality bonds and other debt securities (rated Ba1 / BB+ or below by Nationally Recognized Statistical Rating Organizations or unrated but determined by the fund's investment adviser to be of equivalent quality), including corporate loan obligations. Such securities are sometimes referred to as "junk bonds." Please see the appendix to this prospectus for further information on credit ratings of Nationally Recognized Statistical Rating Organizations. The fund may also invest a portion of its assets in securities tied economically to countries outside the United States, including in emerging markets.

The fund may invest in debt securities of any maturity or duration. Duration is a measure used to determine the sensitivity of a security's price to changes in interest rates. The longer a security's duration, the more sensitive it will be to changes in interest rates. For example, the price of a security with a duration of five years would be expected to fall approximately 5% if interest rates rose by one percentage point. The fund may also invest in equity securities (including common stock, preferred stock, warrants, rights, convertible securities and equity linked notes).

The fund may also invest in futures contracts and swaps, which are types of derivatives. A derivative is a financial contract, the value of which is based on the value of an underlying financial asset (such as a stock, bond or currency), a reference rate or a market index.

The fund may invest in futures contracts and interest rate swaps in order to seek to manage the fund's sensitivity to interest rates, in total return swaps in order to gain exposure to a market without investing directly in such market, and in credit default swap indices, or CDSIs, in order to assume exposure to a diversified portfolio of credits or to hedge against existing credit risks. A futures contract is a standardized exchange-traded agreement to buy or sell a specific quantity of an underlying asset, rate or index at an agreed-upon price at a stipulated future date. An interest rate swap is an agreement between two parties to exchange or swap payments based on changes in one or more interest rates, one of which is typically fixed and the other of which is typically a floating rate based on a designated short-term interest rate, such as the Secured Overnight Financing Rate, prime rate or other benchmark. A total return swap is an agreement in which one party agrees to make periodic payments to the other party based on the change in market value of the assets underlying the contract in exchange for periodic payments based on a fixed or variable interest rate or the total return from other underlying assets. The fund may invest in total return swaps where the asset underlying the contract is a securities index. A CDSI is based on a portfolio of credit default swaps with similar characteristics, such as credit default swaps on high-yield bonds. In a typical CDSI transaction, one party – the protection buyer – is obligated to pay the other party – the protection seller – a stream of periodic payments over the term of the contract, provided generally that no credit event on an underlying reference obligation has occurred. If such a credit event has occurred, the protection seller must pay the protection buyer the loss on those credits.

The fund relies on the professional judgment of its investment adviser to make decisions about the fund's portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good investment opportunities. The investment adviser believes that an important way to accomplish this is through fundamental research, which may include analysis of credit quality, general economic conditions and various quantitative measures and, in the case of corporate obligations, meeting with company executives and employees, suppliers, customers and competitors. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.

In addition to the principal investment strategies described above, the fund has other investment practices as described below and in the statement of additional information.

The fund may hold cash or cash equivalents, including commercial paper and short-term securities issued by the U.S. government, its agencies and instrumentalities. The percentage of the fund invested in such holdings varies and depends on various factors, including market conditions. The investment adviser may determine that it is appropriate to invest a substantial portion of the fund's assets in such instruments in response to certain circumstances, such as periods of market turmoil. For temporary defensive purposes, the fund may invest without limitation in such instruments. A larger percentage of such holdings could reduce the magnitude of the fund's gain in a period of rising market prices. Alternatively, a larger percentage of such holdings could reduce the magnitude of the fund's loss in a period of falling market prices and provide liquidity to make additional investments or to meet the fund's obligations.

The fund's daily cash balance may be invested in one or more money market or similar funds managed by the investment adviser or its affiliates ("Central Funds"). Shares of Central Funds are not offered to the public and are only purchased by the fund's investment adviser and its affiliates and other funds, investment vehicles and accounts managed by the fund's investment adviser and its affiliates. Central Funds do not charge management fees. As a result, the fund does not bear additional management fees when investing in Central Funds, but the fund does bear its proportionate share of Central Fund expenses. The investment results of the portions of the fund's assets invested in the Central Funds will be based upon the investment results of the Central Funds.

The fund's investment adviser and its affiliates manage other funds and accounts with similar names, investment objectives and/or strategies. Certain investment processes among such funds and accounts and as compared to the fund may differ, depending on the applicable structures and related limitations and investment restrictions associated with a particular investment vehicle. The investment results of these funds and accounts will vary depending on a number of factors including, but not limited to, differences in investment

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processes, applicable fees and expenses, portfolio sizes, transaction costs, cash flows, currencies, taxes and portfolio holdings. For more information regarding the investment process of the fund, see the "Management and organization" section of this prospectus.

The investment adviser may consider environmental, social and governance ("ESG") factors that, depending on the facts and circumstances, are material to the value of an issuer or instrument. ESG factors may include, but are not limited to, environmental issues (e.g., water use, emission levels, waste, environmental remediation), social issues (e.g., human capital, health and safety, changing customer behavior) or governance issues (e.g., board composition, executive compensation, shareholder dilution).

The following are principal risks associated with investing in the fund.

*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 or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; 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), bank failures 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 the issuer's financial condition or credit rating, 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. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer. To the extent that the market prices of securities of issuers in the same or related industries or sectors tend to move in the same direction at the same time, and these issuers make up a sizeable portion of the market, events affecting one issuer, industry or sector or the securities markets generally may have a larger impact. If such issuers represent a substantial portion of major market indices, or the economy, a downturn in the prices of their securities may have a disproportionate adverse effect on the overall market, even if other segments of the market perform well. The fund's portfolio managers invest in issuers based on their level of investment conviction. At times, the fund may invest more significantly in a single issuer, which could increase the fund's volatility and the risk of loss arising from the factors described above.

*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 quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change 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 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. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund's securities could cause the net asset 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 assessing 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 or difficult to determine, 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 to try to limit losses, or may be forced to sell at a loss. Depending on market conditions, reduced liquidity of fund holdings may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV.

*Investing in lower rated debt instruments* — Lower rated debt securities or instruments, rated Ba1/BB+ or below by Nationally Recognized Statistical Rating Organizations (also known as "junk bonds"), 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

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securities may fluctuate more than the prices of higher quality debt securities and may decline significantly in periods of general economic difficulty.

*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 cause the fund to lose significantly more than 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. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

*Interest rate risk* — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. 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. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

*Investing outside the United States* — Securities of issuers domiciled outside the United States or with significant operations or revenues outside the United States, and securities tied economically to countries outside the United States, 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 are domiciled, operate or generate revenue or to which the securities are tied economically. 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, sanctions, 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 United States. Investments outside the United States may also be subject to different regulatory, legal, accounting, auditing, financial reporting and recordkeeping requirements, and may be more difficult to value, than those in the United States. In addition, the value of investments outside the United States 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, which could impact the liquidity of the fund's portfolio. The risks of investing outside the United States may be heightened in connection with investments in emerging markets.

*Market trading* — While the fund shares are listed for trading on an exchange, there can be no assurance that an active trading market for such shares will develop or be maintained by market makers or Authorized Participants, or that the fund's shares will continue to meet the requirements for listing or trading on any exchange or in any market. Trading in shares on the exchange may be halted due to market conditions or for reasons that, in the view of the exchange, make trading in the fund shares inadvisable.

The market prices of fund shares are expected to fluctuate, in some cases materially, in response to changes in the fund's NAV, the intraday value of the fund's holdings, and supply and demand for the fund shares. While the creation and redemption feature of the fund is designed to make it more likely that the fund's shares will typically trade on stock exchanges at prices close to the fund's next calculated NAV, the existence of significant market volatility, disruptions to creations and redemptions, adverse developments impacting market makers, Authorized Participants or other market participants or potential lack of an active trading market for fund shares and/or for the holdings of the fund (including through a trading halt), among other factors, may result in the shares trading at a significant premium or discount to NAV. If you buy fund shares when the market price is at a premium or sell fund shares when the market price is at a discount, you may pay more than, or receive less than, NAV, respectively.

Foreign securities held by the fund may be traded in markets that close at a different time than the exchange on which the fund shares are listed. Liquidity in those securities may be reduced after the applicable closing times. Accordingly, during the time when the fund's exchange is open but after the applicable market closing, fixing or settlement times, bid-ask spreads on the fund's exchange and the corresponding premium or discount to the fund's NAV may widen.

When buying or selling fund shares through a broker, you may incur a brokerage commission or other charges, including the cost of the "spread" between what investors are willing to pay for fund shares (the "bid" price) and the price at which they are willing to sell fund shares (the "ask" price). The spread is wider where the fund has less trading volume and market liquidity. During times of significant market volatility or market disruption, including when trading of the fund's holdings may be halted, the bid-ask spread may increase significantly and cause fund shares to trade at a significant discount to the fund's NAV. These risks are exacerbated when the fund is small. Additionally, like shares of other issuers listed on a stock exchange, fund shares may be sold short and are therefore subject to the risk of increased volatility and price decreases associated with being sold short.

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*Authorized Participant concentration* — Only Authorized Participants (as defined in the "Shareholder information" section below) may engage in creation or redemption transactions directly with the fund, and none of them is obligated to do so. The fund has a limited number of institutions that may act as Authorized Participants. In addition, to the extent that securities held by the fund are traded outside a collateralized settlement system, Authorized Participants may be required to post collateral on certain trades on an agency basis (on behalf of other market participants), which only a limited number of Authorized Participants may be able to do. If Authorized Participants exit the business or are unable to or elect not to engage in creation or redemption transactions, and no other Authorized Participant engages in such function, fund shares may trade at a premium or discount to the fund's net asset value and/or at wider intraday bid-ask spreads and possibly face trading halts or delisting.

*Cash transactions* — The fund currently expects to effect at least part of its creations and redemptions for cash rather than in-kind securities. When the fund effects redemptions partly or wholly for cash, rather than in-kind, the fund may have to sell portfolio securities at inopportune times in order to obtain the cash needed to meet redemption orders. If the fund realizes gains on these sales, the fund generally will be required to recognize a gain it might not otherwise have recognized, or to recognize such gain sooner than would otherwise be required if it were to distribute portfolio securities in-kind. This strategy may cause shareholders to be subject to tax from distributions to which they would not otherwise be subject. The use of cash creations and redemptions may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV. As a result of such cash transactions, the fund could incur brokerage costs which, to the extent not offset by transaction fees that are payable by an Authorized Participant, may reduce the fund's NAV.

*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.

The following are additional risks associated with investing in the fund.

*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 tend to have less developed political, economic and legal systems than those in developed countries. Accordingly, the governments of these countries may be less stable and more likely to intervene in the market economy, for example, by imposing capital controls, nationalizing a company or industry, placing restrictions on foreign ownership and on withdrawing sale proceeds of securities from the country, and/or imposing punitive taxes that could adversely affect the prices of securities. Information regarding issuers in emerging markets may be limited, incomplete or inaccurate, and such issuers may not be subject to regulatory, accounting, auditing, and financial reporting and recordkeeping standards comparable to those to which issuers in more developed markets are subject. The fund's rights with respect to its investments in emerging markets, if any, will generally be governed by local law, which may make it difficult or impossible for the fund to pursue legal remedies or to obtain and enforce judgments in local courts. In addition, the economies of these countries may be dependent on relatively few industries, may have limited access to capital and may be more susceptible to changes in local and global trade conditions and downturns in the world economy. 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, more vulnerable to market manipulation, and 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.

*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.

*Investing in futures contracts* — In addition to the risks generally associated with investing in derivative instruments, futures contracts are subject to the creditworthiness of the clearing organizations, exchanges and futures commission merchants with which the fund transacts. Additionally, although futures require only a small initial investment in the form of a deposit of initial margin, the amount of a potential loss on a futures contract could greatly exceed the initial amount invested. While futures contracts are generally liquid instruments, under certain market conditions futures may be deemed to be illiquid. For example, the fund may be temporarily prohibited from closing out its position in a futures contract if intraday price change limits or limits on trading volume imposed by the applicable futures exchange are triggered. If the fund is unable to close out a position on a futures contract, the fund would remain subject to the risk of adverse price movements until the fund is able to close out the futures position. The ability of the fund to successfully utilize futures contracts may depend in part upon the ability of the fund's investment adviser to accurately forecast interest rates and other economic factors and to assess and predict the impact of such economic factors on the futures in which the fund invests. If the investment adviser incorrectly forecasts economic developments or incorrectly predicts the impact of such developments on the futures in which it invests, the fund could suffer losses.

*Investing in swaps* — Swaps, including interest rate swaps, total return swaps and credit default swap indices, or CDSIs, are subject to many of the risks generally associated with investing in derivative instruments. Additionally, although swaps require no initial investment or only a small initial investment in the form of a deposit of initial margin, the amount of a potential loss on a swap could greatly exceed the initial amount invested. The use of swaps involves the risk that the investment adviser will not accurately predict anticipated changes in interest rates or other economic factors, which may result in losses to the fund. If the fund enters into a bilaterally negotiated swap, the counterparty may fail to perform in accordance with the terms of the swap. If a counterparty defaults on its obligations under a swap, the fund may lose any amount it expected to receive from the counterparty, potentially including amounts in excess of the fund's initial

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investment. Certain swaps are subject to mandatory central clearing or may be eligible for voluntary central clearing. Although clearing interposes a central clearinghouse as the ultimate counterparty to each participant's swap, central clearing will not eliminate (but may decrease) counterparty risk relative to uncleared bilateral swaps. Some swaps, such as CDSIs, may be dependent on both the individual credit of the fund's counterparty and on the credit of one or more issuers of any underlying assets. If the fund does not correctly evaluate the creditworthiness of its counterparty and, where applicable, of issuers of any underlying reference assets, the fund's investment in a swap may result in losses to the fund.

*Exposure to country, region, industry or sector* — Subject to the fund's investment limitations, the fund may have significant exposure to a particular country, region, industry or sector. Such exposure may cause the fund to be more impacted by risks relating to and developments affecting the country, region, industry or sector, and thus its net asset value may be more volatile, than a fund without such levels of exposure. For example, if the fund has significant exposure in a particular country, then social, economic, regulatory or other issues that negatively affect that country may have a greater impact on the fund than on a fund that is more geographically diversified.

*Large shareholder concentration* — Certain shareholders, including other funds or accounts advised by the investment adviser, may from time to time own a substantial number of the fund's shares. In addition, a third party investor, the fund's investment adviser, an Authorized Participant, a lead market maker, or another entity may invest in the fund and hold its investment for a limited time solely to facilitate the commencement of the fund or the fund's achieving a specified size or scale. If any such large shareholder sells or redeems (through an Authorized Participant) its investment and the fund fails to maintain a certain level of size or scale, the fund may be negatively impacted.

*Cybersecurity breaches* — The fund may be subject to operational and information security risks through breaches in cybersecurity. Cybersecurity breaches can result from deliberate attacks or unintentional events, including "ransomware" attacks, the injection of computer viruses or malicious software code, the use of vulnerabilities in code to gain unauthorized access to digital information systems, networks or devices, or external attacks such as denial-of-service attacks on the investment adviser's or an affiliate's website that could render the fund's network services unavailable to intended end-users. These breaches may, among other things, lead to the unauthorized release of confidential information, misuse of the fund's assets or sensitive information, the disruption of the fund's operational capacity, the inability of fund shareholders to transact business, or the destruction of the fund's physical infrastructure, equipment or operating systems. These events could cause the fund to violate applicable privacy and other laws and could subject the fund to reputational damage, additional costs associated with corrective measures and/or financial loss. The fund may also be subject to additional risks if its third-party service providers, such as the fund's investment adviser, transfer agent, custodian, administrators and other financial intermediaries (including Authorized Participants), experience similar cybersecurity breaches and potential outcomes. Cybersecurity risks may also impact issuers of securities in which the fund invests, which may cause the fund's investments in such issuers to lose value.

*Portfolio turnover* — The fund may engage in frequent and active trading of its portfolio securities. Higher portfolio turnover may involve correspondingly greater transaction costs in the form of dealer spreads, brokerage commissions and other transaction costs on the sale of securities and on reinvestment in other securities. The sale of portfolio securities may also result in the realization of net capital gains, which are taxable when distributed to shareholders, unless the shareholder is exempt from taxation or his or her account is tax-favored. These costs and tax effects may adversely affect the fund's returns to shareholders. The fund's portfolio turnover rate may vary from year to year, as well as within a year.

In addition to the investment strategies described above, the fund has other investment practices that are described in the statement of additional information, which includes a description of other risks related to the fund's investment strategies and other investment practices. The fund's investment results will depend on the ability of the fund's investment adviser to navigate the risks discussed above as well as those described in the statement of additional information.

**Portfolio holdings** Portfolio holdings information for the fund is available on our website at capitalgroup.com/etf. A description of the fund's policies and procedures regarding disclosure of information about its portfolio holdings is available in the statement of additional information.

**Capital Group International Bond ETF (USD-Hedged)** The fund's investment objective is to provide a high level of current income as is consistent with the preservation of capital. While it has no present intention to do so, the fund's board may change the fund's investment objective without shareholder approval upon 60 days' prior written notice to shareholders.

The fund seeks to maximize your level of current income and preserve your capital by investing primarily in bonds. The fund will invest at least 80% of its assets in bonds and other debt securities (such as those described below), which may be represented by derivatives. This policy is subject to change only upon 60 days' prior written notice to shareholders. Under normal market conditions, the fund will invest at least 40% of its assets outside the United States, unless market conditions are not deemed favorable by the fund's investment adviser, in which case the fund would invest at least 30% of its assets outside the United States. The fund allocates its assets among various countries, and in no fewer than three countries other than the United States. The fund's ability to invest outside the United States includes investing in emerging markets.

The fund may invest up to 15% of its assets in debt securities rated BB+ or below or Ba1 or below by Nationally Recognized Statistical Ratings Organizations designated by the fund's investment adviser, or in debt securities that are unrated but determined to be of equivalent quality by the fund's investment adviser. Securities rated BB+ or below or Ba1 or below are sometimes referred to as "junk bonds."

The fund may enter into currency transactions, which is a type of derivatives, to provide for the purchase or sale of a currency needed to purchase a security denominated in such currency. A derivative is a financial contract, the value of which is based on the value of an underlying financial asset (such as a stock, bond or currency), a reference rate or a market index. A forward currency contract is an agreement to purchase or sell a specific currency at a future date at a fixed price. In addition, the fund seeks to limit its foreign currency

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exposure in general and may enter into forward currency contracts to protect against changes in currency exchange rates, to change the exposure to a particular foreign currency, to shift exposure to currency fluctuations from one currency to another or to seek to increase returns. The fund seeks to hedge all, or substantially all, of the fund's foreign currency exposure using forward currency contracts, such that under normal market conditions, the fund will maintain at least 90% of its assets in U.S. dollar currency exposure. The use of these derivative transactions may allow the fund to obtain net long or net negative (short) exposure to selected currencies.

The fund may invest in a broad range of debt securities, including corporate bonds and debt securities issued by sovereign, quasi-sovereign and supranational entities. The fund may also invest in mortgage-related securities, such as mortgage-backed securities (including those issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government), and other asset-backed securities, including debt obligations that represent interests in pools of mortgages or other income bearing assets, such as consumer loans or receivables.

The fund may invest in debt securities of any maturity or duration. Duration is a measure used to determine the sensitivity of a security's price to changes in interest rates. The longer a security's duration, the more sensitive it will be to changes in interest rates. For example, the price of a security with a duration of five years would be expected to fall approximately 5% if interest rates rose by one percentage point.

The fund may invest in futures contracts and interest rate swaps in order to seek to manage the fund's sensitivity to interest rates, in total return swaps in order to gain exposure to a market without investing directly in such market, and in credit default swap indices, or CDSIs, in order to assume exposure to a diversified portfolio of credits or to hedge against existing credit risks. A futures contract is a standardized exchange-traded agreement to buy or sell a specific quantity of an underlying asset, rate or index at an agreed-upon price at a stipulated future date. An interest rate swap is an agreement between two parties to exchange or swap payments based on changes in one or more interest rates, one of which is typically fixed and the other of which is typically a floating rate based on a designated short-term interest rate, such as the Secured Overnight Financing Rate, prime rate or other benchmark. A total return swap is an agreement in which one party agrees to make periodic payments to the other party based on the change in market value of the assets underlying the contract in exchange for periodic payments based on a fixed or variable interest rate or the total return from other underlying assets. The fund may invest in total return swaps where the asset underlying the contract is a securities index. A CDSI is based on a portfolio of credit default swaps with similar characteristics, such as credit default swaps on high-yield bonds. In a typical CDSI transaction, one party – the protection buyer – is obligated to pay the other party – the protection seller – a stream of periodic payments over the term of the contract, provided generally that no credit event on an underlying reference obligation has occurred. If such a credit event has occurred, the protection seller must pay the protection buyer the loss on those credits.

The fund is nondiversified, which means it may invest a greater portion of its assets in fewer issuers than would otherwise be the case.

The fund relies on the professional judgment of its investment adviser to make decisions about the fund's portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good investment opportunities. The investment adviser believes that an important way to accomplish this is through fundamental research, which may include analysis of credit quality, general economic conditions and various quantitative measures and, in the case of corporate obligations, meeting with company executives and employees, suppliers, customers and competitors. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.

In addition to the principal investment strategies described above, the fund has other investment practices as described below and in the statement of additional information.

The fund may hold cash or cash equivalents, including commercial paper and short-term securities issued by the U.S. government, its agencies and instrumentalities. The percentage of the fund invested in such holdings varies and depends on various factors, including market conditions. The investment adviser may determine that it is appropriate to invest a substantial portion of the fund's assets in such instruments in response to certain circumstances, such as periods of market turmoil. For temporary defensive purposes, the fund may invest without limitation in such instruments. A larger percentage of such holdings could reduce the magnitude of the fund's gain in a period of rising market prices. Alternatively, a larger percentage of such holdings could reduce the magnitude of the fund's loss in a period of falling market prices and provide liquidity to make additional investments or to meet the fund's obligations.

The fund may invest in certain other funds managed by the investment adviser or its affiliates ("Central Funds") to more effectively invest in a diversified set of securities in a specific asset class such as money market instruments, bonds and other securities. Shares of Central Funds are only offered for purchase to the fund's investment adviser and its affiliates and other funds, investment vehicles and accounts managed by the fund's investment adviser and its affiliates. Central Funds do not charge management fees. As a result, the fund does not bear additional management fees when investing in Central Funds, but the fund does bear its proportionate share of Central Fund expenses. The investment results of the portions of the fund's assets invested in the Central Funds will be based upon the investment results of the Central Funds.

The fund's investment adviser and its affiliates manage other funds and accounts with similar names, investment objectives and/or strategies. Certain investment processes among such funds and accounts and as compared to the fund may differ, depending on the applicable structures and related limitations and investment restrictions associated with a particular investment vehicle. The investment results of these funds and accounts will vary depending on a number of factors including, but not limited to, differences in investment processes, applicable fees and expenses, portfolio sizes, transaction costs, cash flows, currencies, taxes and portfolio holdings. For more information regarding the investment process of the fund, see the "Management and organization" section of this prospectus.

The investment adviser may consider environmental, social and governance ("ESG") factors that, depending on the facts and circumstances, are material to the value of an issuer or instrument. ESG factors may include, but are not limited to, environmental issues

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(e.g., water use, emission levels, waste, environmental remediation), social issues (e.g., human capital, health and safety, changing customer behavior) or governance issues (e.g., board composition, executive compensation, shareholder dilution).

The following are principal risks associated with investing in the fund.

*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 or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; 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), bank failures 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 the issuer's financial condition or credit rating, 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. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer. To the extent that the market prices of securities of issuers in the same or related industries or sectors tend to move in the same direction at the same time, and these issuers make up a sizeable portion of the market, events affecting one issuer, industry or sector or the securities markets generally may have a larger impact. If such issuers represent a substantial portion of major market indices, or the economy, a downturn in the prices of their securities may have a disproportionate adverse effect on the overall market, even if other segments of the market perform well. The fund's portfolio managers invest in issuers based on their level of investment conviction. At times, the fund may invest more significantly in a single issuer, which could increase the fund's volatility and the risk of loss arising from the factors described above.

*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 quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change 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 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. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund's securities could cause the net asset 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 assessing credit and default risks.

*Investing outside the United States* — Securities of issuers domiciled outside the United States, including those in emerging markets, or with significant operations or revenues outside the United States, and securities tied economically to countries outside the United States, 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 are domiciled, operate or generate revenue or to which the securities are tied economically. 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, sanctions, 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 United States. Investments outside the United States may also be subject to different regulatory, legal, accounting, auditing, financial reporting and recordkeeping requirements, and may be more difficult to value, than those in the United States. In addition, the value of investments outside the United States 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, which could impact the liquidity of the fund's portfolio. The risks of investing outside the United States may be heightened in connection with investments in emerging markets.

*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 cause the fund to lose

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significantly more than 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. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

*Currency transactions* — In addition to the risks generally associated with investing in derivative instruments, the use of forward currency contracts involves the risk that currency movements will not be accurately predicted by the investment adviser, which could result in losses to the fund. While entering into forward currency contracts could minimize the risk of loss due to a decline in the value of the hedged currency, it could also limit any potential gain that may result from an increase in the value of the currency. Additionally, the adviser may use forward currency contracts to increase exposure to a certain currency or to shift exposure to currency fluctuations from one country to another. Forward currency contracts may expose the fund to potential gains and losses in excess of the initial amount invested.

*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.

*Currency hedging risk* — The fund's use of forward currency contracts to hedge substantially all of the fund's foreign currency exposure could result in losses to the fund if currencies do not perform as expected. Currency markets generally are not as regulated as securities markets, and currency rates may experience volatility, which can reduce the fund's returns. Volatility in one or more currencies may offset stability in another currency and reduce the overall effectiveness of the fund's currency hedging strategy. Volatility of the U.S. dollar relative to the currencies being hedged will generally reduce the effectiveness of the fund's currency hedging transactions. Differences between U.S. dollar interest rates and foreign currency interest rates may also impact the effectiveness of the fund's currency hedging transactions. In addition, governments may intervene in the currency markets in order to influence prices and/or foreign exchange rates with respect to their currency, which may result in the fund's inability to hedge its currency transactions as anticipated. Investors seeking to transact in foreign currencies may have limited access to certain currency markets due to factors including regulatory limitations, adverse tax treatment, exchange controls, currency convertibility issues and limited market liquidity, which can limit the fund's ability to hedge exposure to the currency markets. There is no assurance that the use of forward currency contracts to minimize the impact of currency fluctuations on fund returns will benefit the fund.

The fund's use of forward currency contracts to hedge substantially all of the fund's foreign currency exposure is intended to minimize the impact of currency fluctuations on fund returns; however, this strategy will not eliminate the fund's exposure to currency risk. The use of forward currency contracts will not entirely offset the fluctuations between the fund's exposure to non-U.S. currencies and the U.S. dollar. The fund's exposure to foreign currencies may not be hedged at all times, including at times when the fund is implementing a currency hedging transaction. In addition, the reduction of the fund's exposure to currency risks limits the fund's ability to benefit from favorable changes in currency exchange rates. There are also transaction costs, such as those incurred from the frequent trading of currency instruments, that the fund may incur to hedge its foreign currency exposure.

*Investing in lower rated debt instruments* — Lower rated debt securities or instruments, rated Ba1/BB+ or below by Nationally Recognized Statistical Rating Organizations (also known as "junk bonds"), 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. See the appendix to this prospectus for credit rating descriptions. Investments in junk bonds can be considered speculative.

*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 or difficult to determine, 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 to try to limit losses, or may be forced to sell at a loss. Depending on market conditions, reduced liquidity of fund holdings may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV.

*Investing in mortgage-related and other asset-backed securities* — Mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, include debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as residential mortgage loans, home equity loans, mortgages on commercial buildings, consumer loans and equipment leases. While such securities are subject to the risks associated with investments in debt instruments generally (for example, credit, extension and interest rate risks), they are also subject to other and different risks. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt, potentially increasing the volatility of the securities and the fund's net asset value. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the fund having to reinvest the proceeds in lower yielding securities, effectively reducing the fund's income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the fund's cash available for reinvestment in higher yielding securities. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations and the value of property that secures the

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mortgages may decline in value and be insufficient, upon foreclosure, to repay the associated loans. Investments in asset-backed securities are subject to similar risks, as well as additional risks associated with the assets underlying those securities.

*Investing in debt securities of sovereign, quasi-sovereign and supranational entities* — While debt securities of sovereign, quasi-sovereign and supranational entities are subject to the risks associated with investments in debt instruments or foreign securities generally, they are also subject to other and different risks. A governmental or quasi-governmental entity may be unwilling or unable to pay interest and repay principal on its sovereign or quasi-sovereign debt, or otherwise meet its obligations when due, including for reasons such as the government's policy towards principal international lenders such as the International Monetary Fund, the political considerations to which the government may be subject, and/or dependencies on expected payments from other foreign governments or multinational agencies. If such issuers default (or threaten to default), the indebtedness may be restructured and/or a moratorium on the payments of such indebtedness may be declared, in each case, without the approval of some or all debt holders. Additionally, unlike corporate debt restructurings generally, the fees and expenses of the financial and legal advisers to the creditors in connection with a restructuring may be borne by the holders of the sovereign or quasi-sovereign debt securities instead of the sovereign or quasi-sovereign entity itself. In the event of a default on sovereign or quasi-sovereign debt, the fund may also have limited legal recourse against the defaulting government entity. Sovereign and quasi-sovereign entities may assert sovereign immunity in legal proceedings relating to the failure to pay obligations when due. There may be international treaties with such entities that limit the fund's legal recourse against such entities. Additionally, remedies may need to be pursued in the courts located in the country of the defaulting sovereign or quasi-sovereign entity itself, which may limit the fund's ability to obtain recourse.

A "supranational entity" is an entity established or financially supported by the governments of several countries to promote reconstruction, economic development or trade (for example, the World Bank). Generally, the governmental members of these entities make initial capital contributions to and may also commit to making additional contributions if the supranational entity is unable to repay its borrowings. There is no guarantee that one or more governmental members of a supranational entity will continue to make any necessary additional capital contributions, and if such contributions are not made, the entity may be unable to pay interest or repay principal on its debt securities.

*Interest rate risk* — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. 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. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

*Market trading* — While the fund shares are listed for trading on an exchange, there can be no assurance that an active trading market for such shares will develop or be maintained by market makers or Authorized Participants, or that the fund's shares will continue to meet the requirements for listing or trading on any exchange or in any market. Trading in shares on the exchange may be halted due to market conditions or for reasons that, in the view of the exchange, make trading in the fund shares inadvisable.

The market prices of fund shares are expected to fluctuate, in some cases materially, in response to changes in the fund's NAV, the intraday value of the fund's holdings, and supply and demand for the fund shares. While the creation and redemption feature of the fund is designed to make it more likely that the fund's shares will typically trade on stock exchanges at prices close to the fund's next calculated NAV, the existence of significant market volatility, disruptions to creations and redemptions, adverse developments impacting market makers, Authorized Participants or other market participants or potential lack of an active trading market for fund shares and/or for the holdings of the fund (including through a trading halt), among other factors, may result in the shares trading at a significant premium or discount to NAV. If you buy fund shares when the market price is at a premium or sell fund shares when the market price is at a discount, you may pay more than, or receive less than, NAV, respectively.

Foreign securities held by the fund may be traded in markets that close at a different time than the exchange on which the fund shares are listed. Liquidity in those securities may be reduced after the applicable closing times. Accordingly, during the time when the fund's exchange is open but after the applicable market closing, fixing or settlement times, bid-ask spreads on the fund's exchange and the corresponding premium or discount to the fund's NAV may widen.

When buying or selling fund shares through a broker, you may incur a brokerage commission or other charges, including the cost of the "spread" between what investors are willing to pay for fund shares (the "bid" price) and the price at which they are willing to sell fund shares (the "ask" price). The spread is wider where the fund has less trading volume and market liquidity. During times of significant market volatility or market disruption, including when trading of the fund's holdings may be halted, the bid-ask spread may increase significantly and cause fund shares to trade at a significant discount to the fund's NAV. These risks are exacerbated when the fund is small. Additionally, like shares of other issuers listed on a stock exchange, fund shares may be sold short and are therefore subject to the risk of increased volatility and price decreases associated with being sold short.

*Authorized Participant concentration* — Only Authorized Participants (as defined in the "Shareholder information" section below) may engage in creation or redemption transactions directly with the fund, and none of them is obligated to do so. The fund has a limited number of institutions that may act as Authorized Participants. In addition, to the extent that securities held by the fund are traded outside a collateralized settlement system, Authorized Participants may be required to post collateral on certain trades on an agency basis (on

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behalf of other market participants), which only a limited number of Authorized Participants may be able to do. If Authorized Participants exit the business or are unable to or elect not to engage in creation or redemption transactions, and no other Authorized Participant engages in such function, fund shares may trade at a premium or discount to the fund's net asset value and/or at wider intraday bid-ask spreads and possibly face trading halts or delisting.

*Nondiversification* — As a nondiversified fund, the fund may invest a greater percentage of its assets in fewer issuers than a diversified fund. A fund that invests in a relatively smaller number of issuers is more susceptible to risks associated with a single economic, political, geographic or regulatory occurrence than a diversified fund might be. In addition, poor performance by a single issuer could adversely affect fund performance more than if the fund were invested in a larger number of issuers. The value of the fund's shares can be expected to fluctuate more than might be the case if the fund were more broadly diversified.

*Cash transactions* — The fund currently expects to effect at least part of its creations and redemptions for cash rather than in-kind securities. When the fund effects redemptions partly or wholly for cash, rather than in-kind, the fund may have to sell portfolio securities at inopportune times in order to obtain the cash needed to meet redemption orders. If the fund realizes gains on these sales, the fund generally will be required to recognize a gain it might not otherwise have recognized, or to recognize such gain sooner than would otherwise be required if it were to distribute portfolio securities in-kind. This strategy may cause shareholders to be subject to tax from distributions to which they would not otherwise be subject. The use of cash creations and redemptions may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV. As a result of such cash transactions, the fund could incur brokerage costs which, to the extent not offset by transaction fees that are payable by an Authorized Participant, may reduce the fund's NAV.

*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.

The following are additional risks associated with investing in the fund.

*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 tend to have less developed political, economic and legal systems than those in developed countries. Accordingly, the governments of these countries may be less stable and more likely to intervene in the market economy, for example, by imposing capital controls, nationalizing a company or industry, placing restrictions on foreign ownership and on withdrawing sale proceeds of securities from the country, and/or imposing punitive taxes that could adversely affect the prices of securities. Information regarding issuers in emerging markets may be limited, incomplete or inaccurate, and such issuers may not be subject to regulatory, accounting, auditing, and financial reporting and recordkeeping standards comparable to those to which issuers in more developed markets are subject. The fund's rights with respect to its investments in emerging markets, if any, will generally be governed by local law, which may make it difficult or impossible for the fund to pursue legal remedies or to obtain and enforce judgments in local courts. In addition, the economies of these countries may be dependent on relatively few industries, may have limited access to capital and may be more susceptible to changes in local and global trade conditions and downturns in the world economy. 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, more vulnerable to market manipulation, and 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.

*Investing in swaps* — Swaps, including interest rate swaps, total return swaps and credit default swap indices, or CDSIs, are subject to many of the risks generally associated with investing in derivative instruments. Additionally, although swaps require no initial investment or only a small initial investment in the form of a deposit of initial margin, the amount of a potential loss on a swap could greatly exceed the initial amount invested. The use of swaps involves the risk that the investment adviser will not accurately predict anticipated changes in interest rates or other economic factors, which may result in losses to the fund. If the fund enters into a bilaterally negotiated swap, the counterparty may fail to perform in accordance with the terms of the swap. If a counterparty defaults on its obligations under a swap, the fund may lose any amount it expected to receive from the counterparty, potentially including amounts in excess of the fund's initial investment. Certain swaps are subject to mandatory central clearing or may be eligible for voluntary central clearing. Although clearing interposes a central clearinghouse as the ultimate counterparty to each participant's swap, central clearing will not eliminate (but may decrease) counterparty risk relative to uncleared bilateral swaps. Some swaps, such as CDSIs, may be dependent on both the individual credit of the fund's counterparty and on the credit of one or more issuers of any underlying assets. If the fund does not correctly evaluate the creditworthiness of its counterparty and, where applicable, of issuers of any underlying reference assets, the fund's investment in a swap may result in losses to the fund.

*Investing in futures contracts* — In addition to the risks generally associated with investing in derivative instruments, futures contracts are subject to the creditworthiness of the clearing organizations, exchanges and futures commission merchants with which the fund transacts. Additionally, although futures require only a small initial investment in the form of a deposit of initial margin, the amount of a potential loss on a futures contract could greatly exceed the initial amount invested. While futures contracts are generally liquid instruments, under certain market conditions futures may be deemed to be illiquid. For example, the fund may be temporarily prohibited from closing out its position in a futures contract if intraday price change limits or limits on trading volume imposed by the applicable futures exchange are triggered. If the fund is unable to close out a position on a futures contract, the fund would remain subject to the risk of adverse price movements until the fund is able to close out the futures position. The ability of the fund to successfully utilize futures contracts may

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depend in part upon the ability of the fund's investment adviser to accurately forecast interest rates and other economic factors and to assess and predict the impact of such economic factors on the futures in which the fund invests. If the investment adviser incorrectly forecasts economic developments or incorrectly predicts the impact of such developments on the futures in which it invests, the fund could suffer losses.

*Exposure to country, region, industry or sector* — Subject to the fund's investment limitations, the fund may have significant exposure to a particular country, region, industry or sector. Such exposure may cause the fund to be more impacted by risks relating to and developments affecting the country, region, industry or sector, and thus its net asset value may be more volatile, than a fund without such levels of exposure. For example, if the fund has significant exposure in a particular country, then social, economic, regulatory or other issues that negatively affect that country may have a greater impact on the fund than on a fund that is more geographically diversified.

*Large shareholder concentration* — Certain shareholders, including other funds or accounts advised by the investment adviser, may from time to time own a substantial number of the fund's shares. In addition, a third party investor, the fund's investment adviser, an Authorized Participant, a lead market maker, or another entity may invest in the fund and hold its investment for a limited time solely to facilitate the commencement of the fund or the fund's achieving a specified size or scale. If any such large shareholder sells or redeems (through an Authorized Participant) its investment and the fund fails to maintain a certain level of size or scale, the fund may be negatively impacted.

*Cybersecurity breaches* — The fund may be subject to operational and information security risks through breaches in cybersecurity. Cybersecurity breaches can result from deliberate attacks or unintentional events, including "ransomware" attacks, the injection of computer viruses or malicious software code, the use of vulnerabilities in code to gain unauthorized access to digital information systems, networks or devices, or external attacks such as denial-of-service attacks on the investment adviser's or an affiliate's website that could render the fund's network services unavailable to intended end-users. These breaches may, among other things, lead to the unauthorized release of confidential information, misuse of the fund's assets or sensitive information, the disruption of the fund's operational capacity, the inability of fund shareholders to transact business, or the destruction of the fund's physical infrastructure, equipment or operating systems. These events could cause the fund to violate applicable privacy and other laws and could subject the fund to reputational damage, additional costs associated with corrective measures and/or financial loss. The fund may also be subject to additional risks if its third-party service providers, such as the fund's investment adviser, transfer agent, custodian, administrators and other financial intermediaries (including Authorized Participants), experience similar cybersecurity breaches and potential outcomes. Cybersecurity risks may also impact issuers of securities in which the fund invests, which may cause the fund's investments in such issuers to lose value.

*Portfolio turnover* — The fund may engage in frequent and active trading of its portfolio securities. Higher portfolio turnover may involve correspondingly greater transaction costs in the form of dealer spreads, brokerage commissions and other transaction costs on the sale of securities and on reinvestment in other securities. The sale of portfolio securities may also result in the realization of net capital gains, which are taxable when distributed to shareholders, unless the shareholder is exempt from taxation or his or her account is tax-favored. These costs and tax effects may adversely affect the fund's returns to shareholders. The fund's portfolio turnover rate may vary from year to year, as well as within a year.

In addition to the investment strategies described above, the fund has other investment practices that are described in the statement of additional information, which includes a description of other risks related to the fund's investment strategies and other investment practices. The fund's investment results will depend on the ability of the fund's investment adviser to navigate the risks discussed above as well as those described in the statement of additional information.

**Fund comparative indexes** The investment results table in this prospectus shows how the fund's average annual total returns compare with a broad measure of market results and, if applicable, other measures of market results that reflect the fund's investment universe. The Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. This index is unmanaged, and its results include reinvested dividends and/or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes. The Bloomberg Global Aggregate ex-USD (USD hedged) Index represents the global investment-grade fixed income markets excluding USD denominated bonds with returns hedged to USD. This index is unmanaged, and its results include reinvested distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes.

**Fund results** All fund results in this prospectus reflect the reinvestment of dividends and capital gain distributions, if any.

**Capital Group Municipal High-Income ETF** The fund's investment objective is to provide you with a high level of current income exempt from regular federal income tax. The fund is designed for investors who are able to tolerate greater credit risk and price fluctuations than investors in funds with higher quality portfolios. In seeking to achieve its objective, the fund may accept risks to capital value deemed prudent by the fund's investment adviser to take advantage of opportunities for higher current income on municipal bonds. While it has no present intention to do so, the fund's board may change the fund's investment objective without shareholder approval upon 60 days' prior written notice to shareholders. Under normal circumstances, the fund will invest at least 80% of its assets in, or derive at least 80% of its income from, securities that are exempt from regular federal income tax. The fund may invest, without limitation, in "private activity bonds" whose interest is generally subject to the federal alternative minimum tax. The fund invests at least 60% of its portfolio in debt securities rated BBB+ or below or Baa1 or below by Nationally Recognized Statistical Rating Organizations designated by the fund's investment adviser, or unrated but determined by the fund's investment adviser to be of equivalent quality. Securities rated BB+ or below or Ba1 or below are sometimes referred to as "junk bonds."

Though investment decisions regarding the fund's portfolio may be informed by investment themes on a range of macroeconomic factors, the fund may invest in debt securities of any maturity or duration. Duration is a measure used to determine the sensitivity of a security's price to changes in interest rates. The longer a security's duration, the more sensitive it will be to changes in interest rates. For example, the price of a security with a duration of five years would be expected to fall approximately 5% if interest rates rose by one percentage point.

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The fund relies on the professional judgment of its investment adviser to make decisions about the fund's portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good investment opportunities. The investment adviser believes that an important way to accomplish this is through fundamental research, which may include analysis of credit quality, general economic conditions and various quantitative measures and, in the case of corporate obligations, meeting with company executives and employees, suppliers, customers and competitors. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.

In addition to the principal investment strategies described above, the fund has other investment practices as described below and in the statement of additional information.

The fund may hold cash or cash equivalents, including commercial paper and short-term securities issued by the U.S. government, its agencies and instrumentalities. The percentage of the fund invested in such holdings varies and depends on various factors, including market conditions. The investment adviser may determine that it is appropriate to invest a substantial portion of the fund's assets in such instruments in response to certain circumstances, such as periods of market turmoil. For temporary defensive purposes, the fund may invest without limitation in such instruments. A larger percentage of such holdings could reduce the magnitude of the fund's gain in a period of rising market prices. Alternatively, a larger percentage of such holdings could reduce the magnitude of the fund's loss in a period of falling market prices and provide liquidity to make additional investments or to meet the fund's obligations.

The fund may invest in certain other funds managed by the investment adviser or its affiliates ("Central Funds") to more effectively invest in a diversified set of securities in a specific asset class such as money market instruments, bonds and other securities. Shares of Central Funds are only offered for purchase to the fund's investment adviser and its affiliates and other funds, investment vehicles and accounts managed by the fund's investment adviser and its affiliates. Central Funds do not charge management fees. As a result, the fund does not bear additional management fees when investing in Central Funds, but the fund does bear its proportionate share of Central Fund expenses. The investment results of the portions of the fund's assets invested in the Central Funds will be based upon the investment results of the Central Funds.

The fund's investment adviser and its affiliates manage other funds and accounts with similar names, investment objectives and/or strategies. Certain investment processes among such funds and accounts and as compared to the fund may differ, depending on the applicable structures and related limitations and investment restrictions associated with a particular investment vehicle. The investment results of these funds and accounts will vary depending on a number of factors including, but not limited to, differences in investment processes, applicable fees and expenses, portfolio sizes, transaction costs, cash flows, currencies, taxes and portfolio holdings. For more information regarding the investment process of the fund, see the "Management and organization" section of this prospectus.

The investment adviser may consider environmental, social and governance ("ESG") factors that, depending on the facts and circumstances, are material to the value of an issuer or instrument. ESG factors may include, but are not limited to, environmental issues (e.g., water use, emission levels, waste, environmental remediation), social issues (e.g., human capital, health and safety, changing customer behavior) or governance issues (e.g., board composition, executive compensation, shareholder dilution).

The following are principal risks associated with investing in the fund.

*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 or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; 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), bank failures 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 the issuer's financial condition or credit rating, 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. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer. To the extent that the market prices of securities of issuers in the same or related industries or sectors tend to move in the same direction at the same time, and these issuers make up a sizeable portion of the market, events affecting one issuer, industry or sector or the securities markets generally may have a larger impact. If such issuers represent a substantial portion of major market indices, or the economy, a downturn in the prices of their securities may have a disproportionate adverse effect on the overall market, even if other segments of the market perform well. The fund's portfolio managers invest in issuers based on their level of investment conviction. At times, the fund may invest more significantly in a single issuer, which could increase the fund's volatility and the risk of loss arising from the factors described above.

*Investing in municipal securities* — Municipal securities are debt obligations that are exempt from federal, state and/or local income taxes. The yield and/or value of the fund's investments in municipal securities may be adversely affected by events tied to the municipal securities

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markets, which can be very volatile and significantly impacted by unfavorable legislative or political developments and negative changes in the financial conditions of municipal securities issuers and the economy. To the extent the fund invests in obligations of a municipal issuer, the volatility, credit quality and performance of the fund may be adversely impacted by local political and economic conditions of the issuer. For example, a credit rating downgrade, bond default or bankruptcy involving an issuer within a particular state or territory could affect the market values and marketability of many or all municipal obligations of that state or territory. Income from municipal securities held by the fund could also be declared taxable because of changes in tax laws or interpretations by taxing authorities or as a result of noncompliant conduct of a municipal issuer. Additionally, the relative amount of publicly available information about municipal securities is generally less than that for corporate securities.

*Alternative minimum tax* — The fund may invest in securities, including in "private activity bonds," that may subject you to federal alternative minimum tax. Therefore, while the fund's distributions from tax-exempt securities are not subject to regular federal income tax, a portion or all of the distributions may be included in determining a shareholder's federal alternative minimum tax.

*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 quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change 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 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. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund's securities could cause the net asset 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 assessing 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 or difficult to determine, 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 to try to limit losses, or may be forced to sell at a loss. Depending on market conditions, reduced liquidity of fund holdings may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV.

*Credit and liquidity support* — Changes in the credit quality of banks and financial institutions providing credit and liquidity support features with respect to securities held by the fund could cause the values of these securities to decline.

*Investing in lower rated debt instruments* — Lower rated debt securities or instruments, rated Ba1/BB+ or below by Nationally Recognized Statistical Rating Organizations (also known as "junk bonds"), 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 lower quality, higher yielding debt securities rated Ba1 or below and BB+ or below by Nationally Recognized Statistical Rating Organizations designated by the fund's investment adviser or unrated but determined by the investment adviser to be of equivalent quality, which securities are sometimes referred to as "junk bonds." Investments in junk bonds can be considered speculative.

*Investing in similar municipal bonds* — Investing significantly in municipal obligations of multiple issuers in the same state or backed by revenues of similar types of projects or industries may make the fund more susceptible to certain economic, political or regulatory occurrences. As a result, the fund has greater risk of volatility, and greater risk of loss, from these investments.

*Interest rate risk* — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. 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. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

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*Market trading* — While the fund shares are listed for trading on an exchange, there can be no assurance that an active trading market for such shares will develop or be maintained by market makers or Authorized Participants, or that the fund's shares will continue to meet the requirements for listing or trading on any exchange or in any market. Trading in shares on the exchange may be halted due to market conditions or for reasons that, in the view of the exchange, make trading in the fund shares inadvisable.

The market prices of fund shares are expected to fluctuate, in some cases materially, in response to changes in the fund's NAV, the intraday value of the fund's holdings, and supply and demand for the fund shares. While the creation and redemption feature of the fund is designed to make it more likely that the fund's shares will typically trade on stock exchanges at prices close to the fund's next calculated NAV, the existence of significant market volatility, disruptions to creations and redemptions, adverse developments impacting market makers, Authorized Participants or other market participants or potential lack of an active trading market for fund shares and/or for the holdings of the fund (including through a trading halt), among other factors, may result in the shares trading at a significant premium or discount to NAV. If you buy fund shares when the market price is at a premium or sell fund shares when the market price is at a discount, you may pay more than, or receive less than, NAV, respectively.

When buying or selling fund shares through a broker, you may incur a brokerage commission or other charges, including the cost of the "spread" between what investors are willing to pay for fund shares (the "bid" price) and the price at which they are willing to sell fund shares (the "ask" price). The spread is wider where the fund has less trading volume and market liquidity. During times of significant market volatility or market disruption, including when trading of the fund's holdings may be halted, the bid-ask spread may increase significantly and cause fund shares to trade at a significant discount to the fund's NAV. These risks are exacerbated when the fund is small. Additionally, like shares of other issuers listed on a stock exchange, fund shares may be sold short and are therefore subject to the risk of increased volatility and price decreases associated with being sold short.

*Authorized Participant concentration* — Only Authorized Participants (as defined in the "Shareholder information" section below) may engage in creation or redemption transactions directly with the fund, and none of them is obligated to do so. The fund has a limited number of institutions that may act as Authorized Participants. In addition, to the extent that securities held by the fund are traded outside a collateralized settlement system, Authorized Participants may be required to post collateral on certain trades on an agency basis (on behalf of other market participants), which only a limited number of Authorized Participants may be able to do. If Authorized Participants exit the business or are unable to or elect not to engage in creation or redemption transactions, and no other Authorized Participant engages in such function, fund shares may trade at a premium or discount to the fund's net asset value and/or at wider intraday bid-ask spreads and possibly face trading halts or delisting.

*Cash transactions* — The fund currently expects to effect at least part of its creations and redemptions for cash rather than in-kind securities. When the fund effects redemptions partly or wholly for cash, rather than in-kind, the fund may have to sell portfolio securities at inopportune times in order to obtain the cash needed to meet redemption orders. If the fund realizes gains on these sales, the fund generally will be required to recognize a gain it might not otherwise have recognized, or to recognize such gain sooner than would otherwise be required if it were to distribute portfolio securities in-kind. This strategy may cause shareholders to be subject to tax from distributions to which they would not otherwise be subject. The use of cash creations and redemptions may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV. As a result of such cash transactions, the fund could incur brokerage costs which, to the extent not offset by transaction fees that are payable by an Authorized Participant, may reduce the fund's NAV.

*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.

The following are additional risks associated with investing in the fund.

*Insured municipal bonds –* The fund may invest in municipal bonds that are insured generally as to the timely payment of interest and repayment of principal. Insurance that covers a municipal bond does not guarantee the market value of the bond or the prices of the fund's shares. Market conditions or changes to ratings criteria could adversely impact the ratings of municipal bond insurers. If the credit rating of the insurer were downgraded or withdrawn by rating agencies, this could have an adverse effect upon the credit rating of the insured bond and, therefore, its market value, despite the quality of the underlying issuer.

*Exposure to country, region, industry or sector* — Subject to the fund's investment limitations, the fund may have significant exposure to a particular country, region, industry or sector. Such exposure may cause the fund to be more impacted by risks relating to and developments affecting the country, region, industry or sector, and thus its net asset value may be more volatile, than a fund without such levels of exposure. For example, if the fund has significant exposure in a particular country, then social, economic, regulatory or other issues that negatively affect that country may have a greater impact on the fund than on a fund that is more geographically diversified.

*Large shareholder concentration* — Certain shareholders, including other funds or accounts advised by the investment adviser, may from time to time own a substantial number of the fund's shares. If any such large shareholder sells or redeems (through an Authorized Participant) its investment and the fund fails to maintain a certain level of size or scale, the fund may be negatively impacted.

*Cybersecurity breaches* — The fund may be subject to operational and information security risks through breaches in cybersecurity. Cybersecurity breaches can result from deliberate attacks or unintentional events, including "ransomware" attacks, the injection of computer viruses or malicious software code, the use of vulnerabilities in code to gain unauthorized access to digital information systems, networks or devices, or external attacks such as denial-of-service attacks on the investment adviser's or an affiliate's website that could render the fund's network services unavailable to intended end-users. These breaches may, among other things, lead to the unauthorized

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release of confidential information, misuse of the fund's assets or sensitive information, the disruption of the fund's operational capacity, the inability of fund shareholders to transact business, or the destruction of the fund's physical infrastructure, equipment or operating systems. These events could cause the fund to violate applicable privacy and other laws and could subject the fund to reputational damage, additional costs associated with corrective measures and/or financial loss. The fund may also be subject to additional risks if its third-party service providers, such as the fund's investment adviser, transfer agent, custodian, administrators and other financial intermediaries (including Authorized Participants), experience similar cybersecurity breaches and potential outcomes. Cybersecurity risks may also impact issuers of securities in which the fund invests, which may cause the fund's investments in such issuers to lose value.

*Portfolio turnover* — The fund may engage in frequent and active trading of its portfolio securities. Higher portfolio turnover may involve correspondingly greater transaction costs in the form of dealer spreads, brokerage commissions and other transaction costs on the sale of securities and on reinvestment in other securities. The sale of portfolio securities may also result in the realization of net capital gains, which are taxable when distributed to shareholders, unless the shareholder is exempt from taxation or his or her account is tax-favored. These costs and tax effects may adversely affect the fund's returns to shareholders. The fund's portfolio turnover rate may vary from year to year, as well as within a year.

*Tax risk* — Income from securities held by the fund could also be declared taxable because of changes in tax laws or interpretations by taxing authorities, as a result of noncompliant conduct of a municipal issuer. Investments in taxable bonds and certain derivatives utilized by the fund may cause the fund to have taxable investment income. In addition, the fund may recognize taxable ordinary income from market discount. The fund may also realize capital gains on the sale of its securities. These capital gains will be taxable regardless of whether they are derived from the sale of tax-exempt bonds or taxable securities.

In addition to the investment strategies described above, the fund has other investment practices that are described in the statement of additional information, which includes a description of other risks related to the fund's investment strategies and other investment practices. The fund's investment results will depend on the ability of the fund's investment adviser to navigate the risks discussed above as well as those described in the statement of additional information.

**Fund comparative indexes** The investment results table in this prospectus shows how the fund's average annual total returns compare with a broad measure of market results and, if applicable, other measures of market results that reflect the fund's investment universe. The Bloomberg Municipal Bond Index is a market-value-weighted index designed to represent the long-term investment-grade tax-exempt bond market. This index is unmanaged, and its results include reinvested distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes. The 70%/20%/10% Bloomberg Muni HY Index/Bloomberg Muni BBB Index/Bloomberg Muni Bond Index is a70%/20%/10% blend of the Bloomberg High Yield Municipal Bond Index (with 5% Tobacco Cap and 2% Issuer Cap), Bloomberg Municipal Bond BBB Index and the Bloomberg Municipal Bond Index, respectively. Results reflect dividends net of withholding taxes. These indexes are unmanaged, and their results include reinvested dividends and/or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes.

**Fund results** All fund results in this prospectus reflect the reinvestment of dividends and capital gain distributions, if any.

**Capital Group Municipal Income ETF** The fund's investment objective is to provide a high level of current income exempt from regular federal income tax, consistent with the preservation of capital. The fund is designed for investors seeking a high level of current income exempt from regular federal income tax.

In seeking to achieve its objective, the fund may accept risks to capital value deemed prudent by the fund's investment adviser to take advantage of opportunities for higher current income on municipal bonds. Municipal bonds are debt obligations that pay interest that is exempt from federal income taxation, with payments made from a wide variety of sources, including governmental revenue streams and private enterprises.

The fund invests primarily in bonds and other debt instruments. The fund will normally invest at least 80% of its assets in, or derive at least 80% of its income from, securities that are exempt from regular federal income tax. This is a fundamental policy of the fund and may not be changed without shareholder approval. The fund will invest up to 30% of its assets in securities that may subject you to federal alternative minimum tax. The fund invests at least 65% in debt securities rated BBB- or better or Baa3 or better by Nationally Recognized Statistical Rating Organizations designated by the fund's investment adviser, or unrated but determined by the fund's investment adviser to be of equivalent quality. The fund may also invest in debt securities rated BB+ or below and Ba1 or below by Nationally Recognized Statistical Rating Organizations designated by the fund's investment adviser, or unrated but determined by the fund's investment adviser to be of equivalent quality. Securities rated BB+ or below and Ba1 or below are sometimes referred to as "junk bonds." Though investment decisions regarding the fund's portfolio may be informed by investment themes on a range of macroeconomic factors, the fund may invest in debt securities of any maturity or duration.

The fund relies on the professional judgment of its investment adviser to make decisions about the fund's portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good investment opportunities. The investment adviser believes that an important way to accomplish this is through fundamental research, which may include analysis of credit quality, general economic conditions and various quantitative measures and, in the case of corporate obligations, meeting with company executives and employees, suppliers, customers and competitors. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.

In addition to the principal investment strategies described above, the fund has other investment practices as described below and in the statement of additional information.

The fund may hold cash or cash equivalents, including commercial paper and short-term securities issued by the U.S. government, its agencies and instrumentalities. The percentage of the fund invested in such holdings varies and depends on various factors, including

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market conditions. The investment adviser may determine that it is appropriate to invest a substantial portion of the fund's assets in such instruments in response to certain circumstances, such as periods of market turmoil. For temporary defensive purposes, the fund may invest without limitation in such instruments. A larger percentage of such holdings could reduce the magnitude of the fund's gain in a period of rising market prices. Alternatively, a larger percentage of such holdings could reduce the magnitude of the fund's loss in a period of falling market prices and provide liquidity to make additional investments or to meet the fund's obligations.

The fund may invest in certain other funds managed by the investment adviser or its affiliates ("Central Funds") to more effectively invest in a diversified set of securities in a specific asset class such as money market instruments, bonds and other securities. Shares of Central Funds are only offered for purchase to the fund's investment adviser and its affiliates and other funds, investment vehicles and accounts managed by the fund's investment adviser and its affiliates. Central Funds do not charge management fees. As a result, the fund does not bear additional management fees when investing in Central Funds, but the fund does bear its proportionate share of Central Fund expenses. The investment results of the portions of the fund's assets invested in the Central Funds will be based upon the investment results of the Central Funds.

The fund's investment adviser and its affiliates manage other funds and accounts with similar names, investment objectives and/or strategies. Certain investment processes among such funds and accounts and as compared to the fund may differ, depending on the applicable structures and related limitations and investment restrictions associated with a particular investment vehicle. The investment results of these funds and accounts will vary depending on a number of factors including, but not limited to, differences in investment processes, applicable fees and expenses, portfolio sizes, transaction costs, cash flows, currencies, taxes and portfolio holdings. For more information regarding the investment process of the fund, see the "Management and organization" section of this prospectus.

The investment adviser may consider environmental, social and governance ("ESG") factors that, depending on the facts and circumstances, are material to the value of an issuer or instrument. ESG factors may include, but are not limited to, environmental issues (e.g., water use, emission levels, waste, environmental remediation), social issues (e.g., human capital, health and safety, changing customer behavior) or governance issues (e.g., board composition, executive compensation, shareholder dilution).

The following are principal risks associated with investing in the fund.

*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 or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; 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), bank failures 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 the issuer's financial condition or credit rating, 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. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer. To the extent that the market prices of securities of issuers in the same or related industries or sectors tend to move in the same direction at the same time, and these issuers make up a sizeable portion of the market, events affecting one issuer, industry or sector or the securities markets generally may have a larger impact. If such issuers represent a substantial portion of major market indices, or the economy, a downturn in the prices of their securities may have a disproportionate adverse effect on the overall market, even if other segments of the market perform well. The fund's portfolio managers invest in issuers based on their level of investment conviction. At times, the fund may invest more significantly in a single issuer, which could increase the fund's volatility and the risk of loss arising from the factors described above.

*Investing in municipal securities* — Municipal securities are debt obligations that are exempt from federal, state and/or local income taxes. The yield and/or value of the fund's investments in municipal securities may be adversely affected by events tied to the municipal securities markets, which can be very volatile and significantly impacted by unfavorable legislative or political developments and negative changes in the financial conditions of municipal securities issuers and the economy. To the extent the fund invests in obligations of a municipal issuer, the volatility, credit quality and performance of the fund may be adversely impacted by local political and economic conditions of the issuer. For example, a credit rating downgrade, bond default or bankruptcy involving an issuer within a particular state or territory could affect the market values and marketability of many or all municipal obligations of that state or territory. Income from municipal securities held by the fund could also be declared taxable because of changes in tax laws or interpretations by taxing authorities or as a result of noncompliant conduct of a municipal issuer. Additionally, the relative amount of publicly available information about municipal securities is generally less than that for corporate securities.

*Alternative minimum tax* — The fund may invest in securities, including in "private activity bonds," that may subject you to federal alternative minimum tax. Therefore, while the fund's distributions from tax-exempt securities are not subject to regular federal income tax, a portion or all of the distributions may be included in determining a shareholder's federal alternative minimum tax.

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*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 quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change 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 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. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund's securities could cause the net asset 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 assessing 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 or difficult to determine, 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 to try to limit losses, or may be forced to sell at a loss. Depending on market conditions, reduced liquidity of fund holdings may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV.

*Credit and liquidity support* — Changes in the credit quality of banks and financial institutions providing credit and liquidity support features with respect to securities held by the fund could cause the values of these securities to decline.

*Investing in lower rated debt instruments* — Lower rated debt securities or instruments, rated Ba1/BB+ or below by Nationally Recognized Statistical Rating Organizations (also known as "junk bonds"), 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.

*Investing in similar municipal bonds* — Investing significantly in municipal obligations of multiple issuers in the same state or backed by revenues of similar types of projects or industries may make the fund more susceptible to certain economic, political or regulatory occurrences. As a result, the fund has greater risk of volatility, and greater risk of loss, from these investments.

*Interest rate risk* — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. 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. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

*Portfolio turnover* — The fund may engage in frequent and active trading of its portfolio securities. Higher portfolio turnover may involve correspondingly greater transaction costs in the form of dealer spreads, brokerage commissions and other transaction costs on the sale of securities and on reinvestment in other securities. The sale of portfolio securities may also result in the realization of net capital gains, which are taxable when distributed to shareholders, unless the shareholder is exempt from taxation or his or her account is tax-favored. These costs and tax effects may adversely affect the fund's returns to shareholders. The fund's portfolio turnover rate may vary from year to year, as well as within a year.

*Market trading* — While the fund shares are listed for trading on an exchange, there can be no assurance that an active trading market for such shares will develop or be maintained by market makers or Authorized Participants, or that the fund's shares will continue to meet the requirements for listing or trading on any exchange or in any market. Trading in shares on the exchange may be halted due to market conditions or for reasons that, in the view of the exchange, make trading in the fund shares inadvisable.

The market prices of fund shares are expected to fluctuate, in some cases materially, in response to changes in the fund's NAV, the intraday value of the fund's holdings, and supply and demand for the fund shares. While the creation and redemption feature of the fund is designed to make it more likely that the fund's shares will typically trade on stock exchanges at prices close to the fund's next calculated NAV, the existence of significant market volatility, disruptions to creations and redemptions, adverse developments impacting market

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makers, Authorized Participants or other market participants or potential lack of an active trading market for fund shares and/or for the holdings of the fund (including through a trading halt), among other factors, may result in the shares trading at a significant premium or discount to NAV. If you buy fund shares when the market price is at a premium or sell fund shares when the market price is at a discount, you may pay more than, or receive less than, NAV, respectively.

When buying or selling fund shares through a broker, you may incur a brokerage commission or other charges, including the cost of the "spread" between what investors are willing to pay for fund shares (the "bid" price) and the price at which they are willing to sell fund shares (the "ask" price). The spread is wider where the fund has less trading volume and market liquidity. During times of significant market volatility or market disruption, including when trading of the fund's holdings may be halted, the bid-ask spread may increase significantly and cause fund shares to trade at a significant discount to the fund's NAV. These risks are exacerbated when the fund is small. Additionally, like shares of other issuers listed on a stock exchange, fund shares may be sold short and are therefore subject to the risk of increased volatility and price decreases associated with being sold short.

*Authorized Participant concentration* — Only Authorized Participants (as defined in the "Shareholder information" section below) may engage in creation or redemption transactions directly with the fund, and none of them is obligated to do so. The fund has a limited number of institutions that may act as Authorized Participants. In addition, to the extent that securities held by the fund are traded outside a collateralized settlement system, Authorized Participants may be required to post collateral on certain trades on an agency basis (on behalf of other market participants), which only a limited number of Authorized Participants may be able to do. If Authorized Participants exit the business or are unable to or elect not to engage in creation or redemption transactions, and no other Authorized Participant engages in such function, fund shares may trade at a premium or discount to the fund's net asset value and/or at wider intraday bid-ask spreads and possibly face trading halts or delisting.

*Cash transactions* — The fund currently expects to effect at least part of its creations and redemptions for cash rather than in-kind securities. When the fund effects redemptions partly or wholly for cash, rather than in-kind, the fund may have to sell portfolio securities at inopportune times in order to obtain the cash needed to meet redemption orders. If the fund realizes gains on these sales, the fund generally will be required to recognize a gain it might not otherwise have recognized, or to recognize such gain sooner than would otherwise be required if it were to distribute portfolio securities in-kind. This strategy may cause shareholders to be subject to tax from distributions to which they would not otherwise be subject. The use of cash creations and redemptions may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV. As a result of such cash transactions, the fund could incur brokerage costs which, to the extent not offset by transaction fees that are payable by an Authorized Participant, may reduce the fund's NAV.

*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.

The following are additional risks associated with investing in the fund.

*Insured municipal bonds –* The fund may invest in municipal bonds that are insured generally as to the timely payment of interest and repayment of principal. Insurance that covers a municipal bond does not guarantee the market value of the bond or the prices of the fund's shares. Market conditions or changes to ratings criteria could adversely impact the ratings of municipal bond insurers. If the credit rating of the insurer were downgraded or withdrawn by rating agencies, this could have an adverse effect upon the credit rating of the insured bond and, therefore, its market value, despite the quality of the underlying issuer.

*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 cause the fund to lose significantly more than 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. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

*Investing in futures contracts* — In addition to the risks generally associated with investing in derivative instruments, futures contracts are subject to the creditworthiness of the clearing organizations, exchanges and futures commission merchants with which the fund transacts. Additionally, although futures require only a small initial investment in the form of a deposit of initial margin, the amount of a potential loss on a futures contract could greatly exceed the initial amount invested. While futures contracts are generally liquid instruments, under certain market conditions futures may be deemed to be illiquid. For example, the fund may be temporarily prohibited from closing out its position in a futures contract if intraday price change limits or limits on trading volume imposed by the applicable futures exchange are triggered. If the fund is unable to close out a position on a futures contract, the fund would remain subject to the risk of adverse price movements until the fund is able to close out the futures position. The ability of the fund to successfully utilize futures contracts may depend in part upon the ability of the fund's investment adviser to accurately forecast interest rates and other economic factors and to assess and predict the impact of such economic factors on the futures in which the fund invests. If the investment adviser incorrectly

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forecasts economic developments or incorrectly predicts the impact of such developments on the futures in which it invests, the fund could suffer losses.

*Exposure to country, region, industry or sector* — Subject to the fund's investment limitations, the fund may have significant exposure to a particular country, region, industry or sector. Such exposure may cause the fund to be more impacted by risks relating to and developments affecting the country, region, industry or sector, and thus its net asset value may be more volatile, than a fund without such levels of exposure. For example, if the fund has significant exposure in a particular country, then social, economic, regulatory or other issues that negatively affect that country may have a greater impact on the fund than on a fund that is more geographically diversified.

*Large shareholder concentration* — Certain shareholders, including other funds or accounts advised by the investment adviser, may from time to time own a substantial number of the fund's shares. In addition, a third party investor, the fund's investment adviser, an Authorized Participant, a lead market maker, or another entity may invest in the fund and hold its investment for a limited time solely to facilitate the commencement of the fund or the fund's achieving a specified size or scale. If any such large shareholder sells or redeems (through an Authorized Participant) its investment and the fund fails to maintain a certain level of size or scale, the fund may be negatively impacted.

*Cybersecurity breaches* — The fund may be subject to operational and information security risks through breaches in cybersecurity. Cybersecurity breaches can result from deliberate attacks or unintentional events, including "ransomware" attacks, the injection of computer viruses or malicious software code, the use of vulnerabilities in code to gain unauthorized access to digital information systems, networks or devices, or external attacks such as denial-of-service attacks on the investment adviser's or an affiliate's website that could render the fund's network services unavailable to intended end-users. These breaches may, among other things, lead to the unauthorized release of confidential information, misuse of the fund's assets or sensitive information, the disruption of the fund's operational capacity, the inability of fund shareholders to transact business, or the destruction of the fund's physical infrastructure, equipment or operating systems. These events could cause the fund to violate applicable privacy and other laws and could subject the fund to reputational damage, additional costs associated with corrective measures and/or financial loss. The fund may also be subject to additional risks if its third-party service providers, such as the fund's investment adviser, transfer agent, custodian, administrators and other financial intermediaries (including Authorized Participants), experience similar cybersecurity breaches and potential outcomes. Cybersecurity risks may also impact issuers of securities in which the fund invests, which may cause the fund's investments in such issuers to lose value.

In addition to the investment strategies described above, the fund has other investment practices that are described in the statement of additional information, which includes a description of other risks related to the fund's investment strategies and other investment practices. The fund's investment results will depend on the ability of the fund's investment adviser to navigate the risks discussed above as well as those described in the statement of additional information.

**Fund comparative indexes** The investment results table in this prospectus shows how the fund's average annual total returns compare with a broad measure of market results and, if applicable, other measures of market results that reflect the fund's investment universe. The Bloomberg Municipal Bond Index is a market-value-weighted index designed to represent the long-term investment-grade tax-exempt bond market. This index is unmanaged, and its results include reinvested distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes. The 85%/15% Bloomberg 1-15 Year Blend (1-17) Municipal Bond Index/Bloomberg 1-15 Year Blend (1-17) High Yield Municipal Bond Index blends the Bloomberg 1-15 Year Blend (1-17) Municipal Bond Index with the Bloomberg 1-15 Year Blend (1-17) High Yield Municipal Bond Index by weighting their cumulative total returns at 85% and 15%, respectively. The blend is rebalanced monthly. The Bloomberg 1-15 Year Blend (1-17) Municipal Bond Index consists of a broad selection of investment-grade general obligation and revenue bonds of maturities ranging from one year to 17 years. The Bloomberg 1-15 Year Blend (1-17) High Yield Municipal Bond Index consists of a broad selection of below-investment-grade general obligation and revenue bonds of maturities ranging from one year to 17 years. The indexes are unmanaged, and results include reinvested distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes.

**Fund results** All fund results in this prospectus reflect the reinvestment of dividends and capital gain distributions, if any.

**Capital Group Short Duration Income ETF** The fund's investment objective is to provide current income, consistent with a short duration profile as described in this prospectus and with the preservation of capital. While it has no present intention to do so, the fund's board may change the fund's investment objective without shareholder approval upon 60 days' prior written notice to shareholders.

The fund will invest primarily in bonds (bonds include any debt instrument and cash equivalents, and may be represented by derivatives). The fund maintains a portfolio of bonds, other debt securities (including asset-backed securities and other securities described below) and money market instruments consisting primarily of debt securities rated BBB– or Baa3 or better by Nationally Recognized Statistical Rating Organizations designated by the fund's investment adviser or unrated but determined to be of equivalent quality by the fund's investment adviser. The fund's average portfolio duration is generally expected to be less than 2 years, but may be up to 3 years. Duration is a measure used to determine the sensitivity of a security's price to changes in interest rate. The longer a security's duration, the more sensitive it will be to changes in interest rates.

The fund primarily invests in debt securities denominated in U.S. dollars, including securities issued and guaranteed by the U.S. government, securities of corporate issuers, mortgage-backed securities and debt securities and mortgage-backed securities issued by government sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government. In addition, the fund may invest in asset-backed securities (securities backed by assets such as auto loans, credit card receivables or other providers of credit).

The fund may invest in debt securities tied economically to countries outside the U.S. including, but not limited to, corporate debt and inflation-linked bonds issued by U.S. and non-U.S. governments, their agencies or instrumentalities. Inflation-linked bonds are structured

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to protect against inflation by linking the bond's principal and interest payments to an inflation index, such as the Consumer Price Index for Urban Consumers, so that principal and interest adjust to reflect changes in the index.

The fund may also invest in futures contracts and swaps, which are types of derivatives. A derivative is a financial contract, the value of which is based on the value of an underlying financial asset (such as a stock, bond or currency), a reference rate or a market index. The fund may invest in futures contracts and interest rate swaps in order to seek to manage the fund's sensitivity to interest rates. A futures contract is a standardized exchange-traded agreement to buy or sell a specific quantity of an underlying asset, rate or index at an agreed-upon price at a stipulated future date. An interest rate swap is an agreement between two parties to exchange or swap payments based on changes in one or more interest rates, one of which is typically fixed and the other of which is typically a floating rate based on a designated short-term interest rate, such as the Secured Overnight Financing Rate, prime rate or other benchmark.

The fund relies on the professional judgment of its investment adviser to make decisions about the fund's portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good investment opportunities. The investment adviser believes that an important way to accomplish this is through fundamental research, which may include analysis of credit quality, general economic conditions and various quantitative measures and, in the case of corporate obligations, meeting with company executives and employees, suppliers, customers and competitors. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.

In addition to the principal investment strategies described above, the fund has other investment practices as described below and in the statement of additional information.

The fund may hold cash or cash equivalents, including commercial paper and short-term securities issued by the U.S. government, its agencies and instrumentalities. The percentage of the fund invested in such holdings varies and depends on various factors, including market conditions. The investment adviser may determine that it is appropriate to invest a substantial portion of the fund's assets in such instruments in response to certain circumstances, such as periods of market turmoil. For temporary defensive purposes, the fund may invest without limitation in such instruments. A larger percentage of such holdings could reduce the magnitude of the fund's gain in a period of rising market prices. Alternatively, a larger percentage of such holdings could reduce the magnitude of the fund's loss in a period of falling market prices and provide liquidity to make additional investments or to meet the fund's obligations.

The fund may invest in certain other funds managed by the investment adviser or its affiliates ("Central Funds") to more effectively invest in a diversified set of securities in a specific asset class such as money market instruments, bonds and other securities. Shares of Central Funds are only offered for purchase to the fund's investment adviser and its affiliates and other funds, investment vehicles and accounts managed by the fund's investment adviser and its affiliates. Central Funds do not charge management fees. As a result, the fund does not bear additional management fees when investing in Central Funds, but the fund does bear its proportionate share of Central Fund expenses. The investment results of the portions of the fund's assets invested in the Central Funds will be based upon the investment results of the Central Funds.

The fund's investment adviser and its affiliates manage other funds and accounts with similar names, investment objectives and/or strategies. Certain investment processes among such funds and accounts and as compared to the fund may differ, depending on the applicable structures and related limitations and investment restrictions associated with a particular investment vehicle. The investment results of these funds and accounts will vary depending on a number of factors including, but not limited to, differences in investment processes, applicable fees and expenses, portfolio sizes, transaction costs, cash flows, currencies, taxes and portfolio holdings. For more information regarding the investment process of the fund, see the "Management and organization" section of this prospectus.

The investment adviser may consider environmental, social and governance ("ESG") factors that, depending on the facts and circumstances, are material to the value of an issuer or instrument. ESG factors may include, but are not limited to, environmental issues (e.g., water use, emission levels, waste, environmental remediation), social issues (e.g., human capital, health and safety, changing customer behavior) or governance issues (e.g., board composition, executive compensation, shareholder dilution).

The following are principal risks associated with investing in the fund.

*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 or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; 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), bank failures 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 the issuer's financial condition or credit rating, 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. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets

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may be affected by a change in financial condition or other event affecting a single issuer. To the extent that the market prices of securities of issuers in the same or related industries or sectors tend to move in the same direction at the same time, and these issuers make up a sizeable portion of the market, events affecting one issuer, industry or sector or the securities markets generally may have a larger impact. If such issuers represent a substantial portion of major market indices, or the economy, a downturn in the prices of their securities may have a disproportionate adverse effect on the overall market, even if other segments of the market perform well. The fund's portfolio managers invest in issuers based on their level of investment conviction. At times, the fund may invest more significantly in a single issuer, which could increase the fund's volatility and the risk of loss arising from the factors described above.

*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 quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change 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 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. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund's securities could cause the net asset 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 assessing credit and default risks.

*Investing in mortgage-related and other asset-backed securities* — Mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, include debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as residential mortgage loans, home equity loans, mortgages on commercial buildings, consumer loans and equipment leases. While such securities are subject to the risks associated with investments in debt instruments generally (for example, credit, extension and interest rate risks), they are also subject to other and different risks. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt, potentially increasing the volatility of the securities and the fund's net asset value. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the fund having to reinvest the proceeds in lower yielding securities, effectively reducing the fund's income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the fund's cash available for reinvestment in higher yielding securities. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations and the value of property that secures the mortgages may decline in value and be insufficient, upon foreclosure, to repay the associated loans. Investments in asset-backed securities are subject to similar risks, as well as additional risks associated with the assets underlying those securities.

*Investing in securities backed by the U.S. government* — U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates and the credit rating of the U.S. government. Notwithstanding that these securities are backed by the full faith and credit of the U.S. government, circumstances could arise that would prevent or delay the payment of interest or principal on these securities, which could adversely affect their value and cause the fund to suffer losses. Such an event could lead to significant disruptions in U.S. and global markets.

Securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government.

*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 or difficult to determine, 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 to try to limit losses, or may be forced to sell at a loss. Depending on market conditions, reduced liquidity of fund holdings may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV.

*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.

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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 United States* — Securities of issuers domiciled outside the United States or with significant operations or revenues outside the United States, and securities tied economically to countries outside the United States, 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 are domiciled, operate or generate revenue or to which the securities are tied economically. 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, sanctions, 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 United States. Investments outside the United States may also be subject to different regulatory, legal, accounting, auditing, financial reporting and recordkeeping requirements, and may be more difficult to value, than those in the United States. In addition, the value of investments outside the United States 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, which could impact the liquidity of the fund's portfolio. The risks of investing outside the United States may be heightened in connection with investments in emerging markets.

*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 cause the fund to lose significantly more than 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. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

*Interest rate risk* — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. 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. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

*Portfolio turnover* — The fund may engage in frequent and active trading of its portfolio securities. Higher portfolio turnover may involve correspondingly greater transaction costs in the form of dealer spreads, brokerage commissions and other transaction costs on the sale of securities and on reinvestment in other securities. The sale of portfolio securities may also result in the realization of net capital gains, which are taxable when distributed to shareholders, unless the shareholder is exempt from taxation or his or her account is tax-favored. These costs and tax effects may adversely affect the fund's returns to shareholders. The fund's portfolio turnover rate may vary from year to year, as well as within a year.

*Market trading* — While the fund shares are listed for trading on an exchange, there can be no assurance that an active trading market for such shares will develop or be maintained by market makers or Authorized Participants, or that the fund's shares will continue to meet the requirements for listing or trading on any exchange or in any market. Trading in shares on the exchange may be halted due to market conditions or for reasons that, in the view of the exchange, make trading in the fund shares inadvisable.

The market prices of fund shares are expected to fluctuate, in some cases materially, in response to changes in the fund's NAV, the intraday value of the fund's holdings, and supply and demand for the fund shares. While the creation and redemption feature of the fund is designed to make it more likely that the fund's shares will typically trade on stock exchanges at prices close to the fund's next calculated NAV, the existence of significant market volatility, disruptions to creations and redemptions, adverse developments impacting market makers, Authorized Participants or other market participants or potential lack of an active trading market for fund shares and/or for the holdings of the fund (including through a trading halt), among other factors, may result in the shares trading at a significant premium or discount to NAV. If you buy fund shares when the market price is at a premium or sell fund shares when the market price is at a discount, you may pay more than, or receive less than, NAV, respectively.

Foreign securities held by the fund may be traded in markets that close at a different time than the exchange on which the fund shares are listed. Liquidity in those securities may be reduced after the applicable closing times. Accordingly, during the time when the fund's exchange is open but after the applicable market closing, fixing or settlement times, bid-ask spreads on the fund's exchange and the corresponding premium or discount to the fund's NAV may widen.

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When buying or selling fund shares through a broker, you may incur a brokerage commission or other charges, including the cost of the "spread" between what investors are willing to pay for fund shares (the "bid" price) and the price at which they are willing to sell fund shares (the "ask" price). The spread is wider where the fund has less trading volume and market liquidity. During times of significant market volatility or market disruption, including when trading of the fund's holdings may be halted, the bid-ask spread may increase significantly and cause fund shares to trade at a significant discount to the fund's NAV. These risks are exacerbated when the fund is small. Additionally, like shares of other issuers listed on a stock exchange, fund shares may be sold short and are therefore subject to the risk of increased volatility and price decreases associated with being sold short.

*Authorized Participant concentration* — Only Authorized Participants (as defined in the "Shareholder information" section below) may engage in creation or redemption transactions directly with the fund, and none of them is obligated to do so. The fund has a limited number of institutions that may act as Authorized Participants. In addition, to the extent that securities held by the fund are traded outside a collateralized settlement system, Authorized Participants may be required to post collateral on certain trades on an agency basis (on behalf of other market participants), which only a limited number of Authorized Participants may be able to do. If Authorized Participants exit the business or are unable to or elect not to engage in creation or redemption transactions, and no other Authorized Participant engages in such function, fund shares may trade at a premium or discount to the fund's net asset value and/or at wider intraday bid-ask spreads and possibly face trading halts or delisting.

*Cash transactions* — The fund currently expects to effect at least part of its creations and redemptions for cash rather than in-kind securities. When the fund effects redemptions partly or wholly for cash, rather than in-kind, the fund may have to sell portfolio securities at inopportune times in order to obtain the cash needed to meet redemption orders. If the fund realizes gains on these sales, the fund generally will be required to recognize a gain it might not otherwise have recognized, or to recognize such gain sooner than would otherwise be required if it were to distribute portfolio securities in-kind. This strategy may cause shareholders to be subject to tax from distributions to which they would not otherwise be subject. The use of cash creations and redemptions may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV. As a result of such cash transactions, the fund could incur brokerage costs which, to the extent not offset by transaction fees that are payable by an Authorized Participant, may reduce the fund's NAV.

*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.

The following are additional risks associated with investing in the fund.

*Investments in future delivery contracts* — The fund may enter into transactions involving future delivery contracts, such as to-be-announced (TBA) contracts and mortgage dollar rolls. These contracts involve the purchase or sale of mortgage-backed securities for settlement at a future date and predetermined price. When the fund enters into a TBA commitment for the sale of mortgage-backed securities (which may be referred to as having a short position in such TBA securities), the fund may or may not hold the types of mortgage-backed securities required to be delivered. The fund may choose to roll these transactions in lieu of settling them.

When the fund rolls the purchase of these types of future delivery transactions, the fund simultaneously sells the mortgage-backed securities for delivery in the current month and repurchases substantially similar securities for delivery at a future date at a predetermined price. When the fund rolls the sale of these transactions rather than settling them, the fund simultaneously purchases the mortgage-backed securities for delivery in the current month and sells substantially similar securities for delivery at a future date at a predetermined price. Such roll transactions can increase the turnover rate of the fund and may increase the risk that market prices may move unfavorably between the original and new contracts, potentially resulting in losses or reduced returns for the fund.

*Investing in futures contracts* — In addition to the risks generally associated with investing in derivative instruments, futures contracts are subject to the creditworthiness of the clearing organizations, exchanges and futures commission merchants with which the fund transacts. Additionally, although futures require only a small initial investment in the form of a deposit of initial margin, the amount of a potential loss on a futures contract could greatly exceed the initial amount invested. While futures contracts are generally liquid instruments, under certain market conditions futures may be deemed to be illiquid. For example, the fund may be temporarily prohibited from closing out its position in a futures contract if intraday price change limits or limits on trading volume imposed by the applicable futures exchange are triggered. If the fund is unable to close out a position on a futures contract, the fund would remain subject to the risk of adverse price movements until the fund is able to close out the futures position. The ability of the fund to successfully utilize futures contracts may depend in part upon the ability of the fund's investment adviser to accurately forecast interest rates and other economic factors and to assess and predict the impact of such economic factors on the futures in which the fund invests. If the investment adviser incorrectly forecasts economic developments or incorrectly predicts the impact of such developments on the futures in which it invests, the fund could suffer losses.

*Investing in swaps* — Swaps, including interest rate swaps, total return swaps and credit default swap indices, or CDSIs, are subject to many of the risks generally associated with investing in derivative instruments. Additionally, although swaps require no initial investment or only a small initial investment in the form of a deposit of initial margin, the amount of a potential loss on a swap could greatly exceed the initial amount invested. The use of swaps involves the risk that the investment adviser will not accurately predict anticipated changes in interest rates or other economic factors, which may result in losses to the fund. If the fund enters into a bilaterally negotiated swap, the counterparty may fail to perform in accordance with the terms of the swap. If a counterparty defaults on its obligations under a swap, the fund may lose any amount it expected to receive from the counterparty, potentially including amounts in excess of the fund's initial investment. Certain swaps are subject to mandatory central clearing or may be eligible for voluntary central clearing. Although clearing

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interposes a central clearinghouse as the ultimate counterparty to each participant's swap, central clearing will not eliminate (but may decrease) counterparty risk relative to uncleared bilateral swaps. Some swaps, such as CDSIs, may be dependent on both the individual credit of the fund's counterparty and on the credit of one or more issuers of any underlying assets. If the fund does not correctly evaluate the creditworthiness of its counterparty and, where applicable, of issuers of any underlying reference assets, the fund's investment in a swap may result in losses to the fund.

*Exposure to country, region, industry or sector* — Subject to the fund's investment limitations, the fund may have significant exposure to a particular country, region, industry or sector. Such exposure may cause the fund to be more impacted by risks relating to and developments affecting the country, region, industry or sector, and thus its net asset value may be more volatile, than a fund without such levels of exposure. For example, if the fund has significant exposure in a particular country, then social, economic, regulatory or other issues that negatively affect that country may have a greater impact on the fund than on a fund that is more geographically diversified.

*Large shareholder concentration* — Certain shareholders, including other funds or accounts advised by the investment adviser, may from time to time own a substantial number of the fund's shares. In addition, a third party investor, the fund's investment adviser, an Authorized Participant, a lead market maker, or another entity may invest in the fund and hold its investment for a limited time solely to facilitate the commencement of the fund or the fund's achieving a specified size or scale. If any such large shareholder sells or redeems (through an Authorized Participant) its investment and the fund fails to maintain a certain level of size or scale, the fund may be negatively impacted.

*Cybersecurity breaches* — The fund may be subject to operational and information security risks through breaches in cybersecurity. Cybersecurity breaches can result from deliberate attacks or unintentional events, including "ransomware" attacks, the injection of computer viruses or malicious software code, the use of vulnerabilities in code to gain unauthorized access to digital information systems, networks or devices, or external attacks such as denial-of-service attacks on the investment adviser's or an affiliate's website that could render the fund's network services unavailable to intended end-users. These breaches may, among other things, lead to the unauthorized release of confidential information, misuse of the fund's assets or sensitive information, the disruption of the fund's operational capacity, the inability of fund shareholders to transact business, or the destruction of the fund's physical infrastructure, equipment or operating systems. These events could cause the fund to violate applicable privacy and other laws and could subject the fund to reputational damage, additional costs associated with corrective measures and/or financial loss. The fund may also be subject to additional risks if its third-party service providers, such as the fund's investment adviser, transfer agent, custodian, administrators and other financial intermediaries (including Authorized Participants), experience similar cybersecurity breaches and potential outcomes. Cybersecurity risks may also impact issuers of securities in which the fund invests, which may cause the fund's investments in such issuers to lose value.

In addition to the investment strategies described above, the fund has other investment practices that are described in the statement of additional information, which includes a description of other risks related to the fund's investment strategies and other investment practices. The fund's investment results will depend on the ability of the fund's investment adviser to navigate the risks discussed above as well as those described in the statement of additional information.

**Fund comparative indexes** The investment results table in this prospectus shows how the fund's average annual total returns compare with a broad measure of market results and, if applicable, other measures of market results that reflect the fund's investment universe. The Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. This index is unmanaged, and its results include reinvested dividends and/or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes. The Bloomberg 1-3 Year U.S. Government/Credit Index is a market-value weighted index that tracks the total return results of fixed-rate, publicly placed, dollar-denominated obligations issued by the U.S. Treasury, U.S. government agencies, quasi-federal corporations, corporate or foreign debt guaranteed by the U.S. government, and U.S. corporate and foreign debentures and secured notes that meet specified maturity, liquidity and quality requirements, with maturities of one to three years. This index is unmanaged, and its results include reinvested distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes.

**Fund results** All fund results in this prospectus reflect the reinvestment of dividends and capital gain distributions, if any.

**Capital Group Short Duration Municipal Income ETF** The fund's investment objective is to provide current income exempt from regular federal income tax, consistent with a short duration profile as described in this prospectus and with the preservation of capital. While it has no present intention to do so, the fund's board may change the fund's investment objective without shareholder approval upon 60 days' prior written notice to shareholders.

The fund will normally invest at least 80% of its assets in, or derive at least 80% of its income from, securities that are exempt from regular federal income tax. This is a fundamental policy of the fund and may not be changed without shareholder approval. Such securities consist of municipal bonds, which are debt obligations that pay interest that is exempt from federal income taxation, with payments made from a wide variety of sources, including governmental revenue streams and private enterprises. The fund will invest up to 20% of its assets in private activity bonds whose interest is generally subject to the federal alternative minimum tax.

The fund will invest at least 80% of its assets in bonds and other debt instruments. The fund may invest in insured municipal bonds, which are municipal bonds that are insured generally as to the timely payment of interest and repayment of principal. That said, such insurance, which may be purchased by the bond issuer, the fund or any other party, does not guarantee the market value of the bond. In addition, the fund may invest in debt securities of varying credit quality, including up to 10% of its assets in debt securities rated BB+ or below and Ba1 or below by Nationally Recognized Statistical Rating Organizations designated by the fund's investment adviser, or unrated but determined by the fund's investment adviser to be of equivalent quality. Securities rated BB+ or below and Ba1 or below are sometimes referred to as "junk bonds." Though investment decisions regarding the fund's portfolio may be informed by investment themes on a range of macroeconomic factors, the fund may invest in debt securities of any maturity. The fund will maintain a weighted average effective portfolio duration that is within 1 year of that of the Bloomberg Municipal Short 1-5 Years Index. Duration is a measure used to determine

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the sensitivity of a security's price to changes in interest rates. The longer a security's duration, the more sensitive it will be to changes in interest rates. For example, the price of a security with a duration of one year would be expected to fall approximately 1% if interest rates rose by one percentage point.

The fund is nondiversified, which means it may invest a greater portion of its assets in fewer issuers than would otherwise be the case.

The fund relies on the professional judgment of its investment adviser to make decisions about the fund's portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good investment opportunities. The investment adviser believes that an important way to accomplish this is through fundamental research, which may include analysis of credit quality, general economic conditions and various quantitative measures and, in the case of corporate obligations, meeting with company executives and employees, suppliers, customers and competitors. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.

In addition to the principal investment strategies described above, the fund has other investment practices as described below and in the statement of additional information.

The fund may hold cash or cash equivalents, including commercial paper and short-term securities issued by the U.S. government, its agencies and instrumentalities. The percentage of the fund invested in such holdings varies and depends on various factors, including market conditions. The investment adviser may determine that it is appropriate to invest a substantial portion of the fund's assets in such instruments in response to certain circumstances, such as periods of market turmoil. For temporary defensive purposes, the fund may invest without limitation in such instruments. A larger percentage of such holdings could reduce the magnitude of the fund's gain in a period of rising market prices. Alternatively, a larger percentage of such holdings could reduce the magnitude of the fund's loss in a period of falling market prices and provide liquidity to make additional investments or to meet the fund's obligations.

The fund may invest in certain other funds managed by the investment adviser or its affiliates ("Central Funds") to more effectively invest in a diversified set of securities in a specific asset class such as money market instruments, bonds and other securities. Shares of Central Funds are only offered for purchase to the fund's investment adviser and its affiliates and other funds, investment vehicles and accounts managed by the fund's investment adviser and its affiliates. Central Funds do not charge management fees. As a result, the fund does not bear additional management fees when investing in Central Funds, but the fund does bear its proportionate share of Central Fund expenses. The investment results of the portions of the fund's assets invested in the Central Funds will be based upon the investment results of the Central Funds.

The fund's investment adviser and its affiliates manage other funds and accounts with similar names, investment objectives and/or strategies. Certain investment processes among such funds and accounts and as compared to the fund may differ, depending on the applicable structures and related limitations and investment restrictions associated with a particular investment vehicle. The investment results of these funds and accounts will vary depending on a number of factors including, but not limited to, differences in investment processes, applicable fees and expenses, portfolio sizes, transaction costs, cash flows, currencies, taxes and portfolio holdings. For more information regarding the investment process of the fund, see the "Management and organization" section of this prospectus.

The investment adviser may consider environmental, social and governance ("ESG") factors that, depending on the facts and circumstances, are material to the value of an issuer or instrument. ESG factors may include, but are not limited to, environmental issues (e.g., water use, emission levels, waste, environmental remediation), social issues (e.g., human capital, health and safety, changing customer behavior) or governance issues (e.g., board composition, executive compensation, shareholder dilution).

The following are principal risks associated with investing in the fund.

*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 or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; 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), bank failures 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 the issuer's financial condition or credit rating, 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. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer. To the extent that the market prices of securities of issuers in the same or related industries or sectors tend to move in the same direction at the same time, and these issuers make up a sizeable portion of the market, events affecting one issuer, industry or sector or the securities markets generally may have a larger impact. If such issuers represent a substantial portion of major market indices, or the economy, a downturn in the prices of their securities may have a disproportionate adverse effect on the overall market, even if other segments of the market perform well. The fund's portfolio

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managers invest in issuers based on their level of investment conviction. At times, the fund may invest more significantly in a single issuer, which could increase the fund's volatility and the risk of loss arising from the factors described above.

*Investing in municipal securities* — Municipal securities are debt obligations that are exempt from federal, state and/or local income taxes. The yield and/or value of the fund's investments in municipal securities may be adversely affected by events tied to the municipal securities markets, which can be very volatile and significantly impacted by unfavorable legislative or political developments and negative changes in the financial conditions of municipal securities issuers and the economy. To the extent the fund invests in obligations of a municipal issuer, the volatility, credit quality and performance of the fund may be adversely impacted by local political and economic conditions of the issuer. For example, a credit rating downgrade, bond default or bankruptcy involving an issuer within a particular state or territory could affect the market values and marketability of many or all municipal obligations of that state or territory. Income from municipal securities held by the fund could also be declared taxable because of changes in tax laws or interpretations by taxing authorities or as a result of noncompliant conduct of a municipal issuer. Additionally, the relative amount of publicly available information about municipal securities is generally less than that for corporate securities.

*Alternative minimum tax* — The fund may invest in securities, including in "private activity bonds," that may subject you to federal alternative minimum tax. Therefore, while the fund's distributions from tax-exempt securities are not subject to regular federal income tax, a portion or all of the distributions may be included in determining a shareholder's federal alternative minimum tax.

*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 quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change 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 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. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund's securities could cause the net asset 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 assessing 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 or difficult to determine, 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 to try to limit losses, or may be forced to sell at a loss. Depending on market conditions, reduced liquidity of fund holdings may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV.

*Credit and liquidity support* — Changes in the credit quality of banks and financial institutions providing credit and liquidity support features with respect to securities held by the fund could cause the values of these securities to decline.

*Investing in lower rated debt instruments* — Lower rated debt securities or instruments, rated Ba1/BB+ or below by Nationally Recognized Statistical Rating Organizations (also known as "junk bonds"), 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.

*Investing in similar municipal bonds* — Investing significantly in municipal obligations of multiple issuers in the same state or backed by revenues of similar types of projects or industries may make the fund more susceptible to certain economic, political or regulatory occurrences. As a result, the fund has greater risk of volatility, and greater risk of loss, from these investments.

*Insured municipal bonds –* The fund may invest in municipal bonds that are insured generally as to the timely payment of interest and repayment of principal. Insurance that covers a municipal bond does not guarantee the market value of the bond or the prices of the fund's shares. Market conditions or changes to ratings criteria could adversely impact the ratings of municipal bond insurers. If the credit rating of the insurer were downgraded or withdrawn by rating agencies, this could have an adverse effect upon the credit rating of the insured bond and, therefore, its market value, despite the quality of the underlying issuer.

*Interest rate risk* — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. 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. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease

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in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

*Market trading* — While the fund shares are listed for trading on an exchange, there can be no assurance that an active trading market for such shares will develop or be maintained by market makers or Authorized Participants, or that the fund's shares will continue to meet the requirements for listing or trading on any exchange or in any market. Trading in shares on the exchange may be halted due to market conditions or for reasons that, in the view of the exchange, make trading in the fund shares inadvisable.

The market prices of fund shares are expected to fluctuate, in some cases materially, in response to changes in the fund's NAV, the intraday value of the fund's holdings, and supply and demand for the fund shares. While the creation and redemption feature of the fund is designed to make it more likely that the fund's shares will typically trade on stock exchanges at prices close to the fund's next calculated NAV, the existence of significant market volatility, disruptions to creations and redemptions, adverse developments impacting market makers, Authorized Participants or other market participants or potential lack of an active trading market for fund shares and/or for the holdings of the fund (including through a trading halt), among other factors, may result in the shares trading at a significant premium or discount to NAV. If you buy fund shares when the market price is at a premium or sell fund shares when the market price is at a discount, you may pay more than, or receive less than, NAV, respectively.

When buying or selling fund shares through a broker, you may incur a brokerage commission or other charges, including the cost of the "spread" between what investors are willing to pay for fund shares (the "bid" price) and the price at which they are willing to sell fund shares (the "ask" price). The spread is wider where the fund has less trading volume and market liquidity. During times of significant market volatility or market disruption, including when trading of the fund's holdings may be halted, the bid-ask spread may increase significantly and cause fund shares to trade at a significant discount to the fund's NAV. These risks are exacerbated when the fund is small. Additionally, like shares of other issuers listed on a stock exchange, fund shares may be sold short and are therefore subject to the risk of increased volatility and price decreases associated with being sold short.

*Authorized Participant concentration* — Only Authorized Participants (as defined in the "Shareholder information" section below) may engage in creation or redemption transactions directly with the fund, and none of them is obligated to do so. The fund has a limited number of institutions that may act as Authorized Participants. In addition, to the extent that securities held by the fund are traded outside a collateralized settlement system, Authorized Participants may be required to post collateral on certain trades on an agency basis (on behalf of other market participants), which only a limited number of Authorized Participants may be able to do. If Authorized Participants exit the business or are unable to or elect not to engage in creation or redemption transactions, and no other Authorized Participant engages in such function, fund shares may trade at a premium or discount to the fund's net asset value and/or at wider intraday bid-ask spreads and possibly face trading halts or delisting.

*Nondiversification* — As a nondiversified fund, the fund may invest a greater percentage of its assets in fewer issuers than a diversified fund. A fund that invests in a relatively smaller number of issuers is more susceptible to risks associated with a single economic, political, geographic or regulatory occurrence than a diversified fund might be. In addition, poor performance by a single issuer could adversely affect fund performance more than if the fund were invested in a larger number of issuers. The value of the fund's shares can be expected to fluctuate more than might be the case if the fund were more broadly diversified.

*Cash transactions* — The fund currently expects to effect at least part of its creations and redemptions for cash rather than in-kind securities. When the fund effects redemptions partly or wholly for cash, rather than in-kind, the fund may have to sell portfolio securities at inopportune times in order to obtain the cash needed to meet redemption orders. If the fund realizes gains on these sales, the fund generally will be required to recognize a gain it might not otherwise have recognized, or to recognize such gain sooner than would otherwise be required if it were to distribute portfolio securities in-kind. This strategy may cause shareholders to be subject to tax from distributions to which they would not otherwise be subject. The use of cash creations and redemptions may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV. As a result of such cash transactions, the fund could incur brokerage costs which, to the extent not offset by transaction fees that are payable by an Authorized Participant, may reduce the fund's NAV.

*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.

The following are additional risks associated with investing in the 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 cause the fund to lose significantly more than 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

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against or closing out derivative instruments with a counterparty, which may result in additional losses. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

*Investing in futures contracts* — In addition to the risks generally associated with investing in derivative instruments, futures contracts are subject to the creditworthiness of the clearing organizations, exchanges and futures commission merchants with which the fund transacts. Additionally, although futures require only a small initial investment in the form of a deposit of initial margin, the amount of a potential loss on a futures contract could greatly exceed the initial amount invested. While futures contracts are generally liquid instruments, under certain market conditions futures may be deemed to be illiquid. For example, the fund may be temporarily prohibited from closing out its position in a futures contract if intraday price change limits or limits on trading volume imposed by the applicable futures exchange are triggered. If the fund is unable to close out a position on a futures contract, the fund would remain subject to the risk of adverse price movements until the fund is able to close out the futures position. The ability of the fund to successfully utilize futures contracts may depend in part upon the ability of the fund's investment adviser to accurately forecast interest rates and other economic factors and to assess and predict the impact of such economic factors on the futures in which the fund invests. If the investment adviser incorrectly forecasts economic developments or incorrectly predicts the impact of such developments on the futures in which it invests, the fund could suffer losses.

*Exposure to country, region, industry or sector* — Subject to the fund's investment limitations, the fund may have significant exposure to a particular country, region, industry or sector. Such exposure may cause the fund to be more impacted by risks relating to and developments affecting the country, region, industry or sector, and thus its net asset value may be more volatile, than a fund without such levels of exposure. For example, if the fund has significant exposure in a particular country, then social, economic, regulatory or other issues that negatively affect that country may have a greater impact on the fund than on a fund that is more geographically diversified.

*Large shareholder concentration* — Certain shareholders, including other funds or accounts advised by the investment adviser, may from time to time own a substantial number of the fund's shares. If any such large shareholder sells or redeems (through an Authorized Participant) its investment and the fund fails to maintain a certain level of size or scale, the fund may be negatively impacted.

*Cybersecurity breaches* — The fund may be subject to operational and information security risks through breaches in cybersecurity. Cybersecurity breaches can result from deliberate attacks or unintentional events, including "ransomware" attacks, the injection of computer viruses or malicious software code, the use of vulnerabilities in code to gain unauthorized access to digital information systems, networks or devices, or external attacks such as denial-of-service attacks on the investment adviser's or an affiliate's website that could render the fund's network services unavailable to intended end-users. These breaches may, among other things, lead to the unauthorized release of confidential information, misuse of the fund's assets or sensitive information, the disruption of the fund's operational capacity, the inability of fund shareholders to transact business, or the destruction of the fund's physical infrastructure, equipment or operating systems. These events could cause the fund to violate applicable privacy and other laws and could subject the fund to reputational damage, additional costs associated with corrective measures and/or financial loss. The fund may also be subject to additional risks if its third-party service providers, such as the fund's investment adviser, transfer agent, custodian, administrators and other financial intermediaries (including Authorized Participants), experience similar cybersecurity breaches and potential outcomes. Cybersecurity risks may also impact issuers of securities in which the fund invests, which may cause the fund's investments in such issuers to lose value.

*Tax risk* — Income from securities held by the fund could also be declared taxable because of changes in tax laws or interpretations by taxing authorities, as a result of noncompliant conduct of a municipal issuer. Investments in taxable bonds and certain derivatives utilized by the fund may cause the fund to have taxable investment income. In addition, the fund may recognize taxable ordinary income from market discount. The fund may also realize capital gains on the sale of its securities. These capital gains will be taxable regardless of whether they are derived from the sale of tax-exempt bonds or taxable securities.

*Portfolio turnover* — The fund may engage in frequent and active trading of its portfolio securities. Higher portfolio turnover may involve correspondingly greater transaction costs in the form of dealer spreads, brokerage commissions and other transaction costs on the sale of securities and on reinvestment in other securities. The sale of portfolio securities may also result in the realization of net capital gains, which are taxable when distributed to shareholders, unless the shareholder is exempt from taxation or his or her account is tax-favored. These costs and tax effects may adversely affect the fund's returns to shareholders. The fund's portfolio turnover rate may vary from year to year, as well as within a year.

In addition to the investment strategies described above, the fund has other investment practices that are described in the statement of additional information, which includes a description of other risks related to the fund's investment strategies and other investment practices. The fund's investment results will depend on the ability of the fund's investment adviser to navigate the risks discussed above as well as those described in the statement of additional information.

**Fund comparative indexes** The investment results table in this prospectus shows how the fund's average annual total returns compare with a broad measure of market results and, if applicable, other measures of market results that reflect the fund's investment universe. The Bloomberg Municipal Bond Index is a market-value-weighted index designed to represent the long-term investment-grade tax-exempt bond market. This index is unmanaged, and its results include reinvested distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes. The Bloomberg Municipal Short 1–5 Years Index is a market-value-weighted index that includes investment-grade tax-exempt bonds with maturities of one to five years. This index is unmanaged, and its results include reinvested distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes.

**Fund results** All fund results in this prospectus reflect the reinvestment of dividends and capital gain distributions, if any.

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**Capital Group Ultra Short Income ETF** The fund's investment objective is to provide current income, consistent with an ultra-short duration profile as described in this prospectus, focused on preservation of capital. While it has no present intention to do so, the fund's board may change the fund's investment objective without shareholder approval upon 60 days' prior written notice to shareholders.

The fund will invest at least 80% of its assets in bonds and other debt securities that accrue income, which may be represented by derivatives. This policy is subject to change only upon 60 days' prior written notice to shareholders. Under normal circumstances, the fund will invest primarily in investment grade, U.S. dollar denominated short-term debt, including: high-quality, short-term money market instruments such as commercial paper and certificates of deposit; U.S. Treasury securities and other government securities guaranteed or issued by an agency or instrumentality of the U.S. government; corporate securities; and asset-backed securities.

The fund may also invest in inflation-linked bonds. Inflation-linked bonds are structured to protect against inflation by linking the bond's principal and interest payments to an inflation index such as the Consumer Price Index for Urban Consumers, so that principal and interest adjust to reflect changes in the index. The fund may invest substantially in debt securities that are tied economically to countries outside the United States. Such securities will primarily be U.S. dollar denominated though they may be issued by foreign corporations or foreign governments and their agencies and instrumentalities.

The fund will invest primarily in investment-grade debt with a minimum short-term rating of P-2, A-2 or F2 or better, or a minimum long-term rating of BBB- or Baa3, in each case given by Nationally Recognized Statistical Rating Organizations designated by the fund's investment adviser or unrated but determined to be of equivalent quality by the fund's investment adviser.

The fund may also invest in futures contracts and swaps, which are types of derivatives. A derivative is a financial contract, the value of which is based on the value of an underlying financial asset (such as a stock, bond or currency), a reference rate or a market index. The fund may invest in futures contracts and interest rate swaps in order to seek to manage the fund's sensitivity to interest rates. A futures contract is a standardized exchange-traded agreement to buy or sell a specific quantity of an underlying asset, rate or index at an agreed-upon price at a stipulated future date. An interest rate swap is an agreement between two parties to exchange or swap payments based on changes in one or more interest rates, one of which is typically fixed and the other of which is typically a floating rate based on a designated short-term interest rate, such as the Secured Overnight Financing Rate, prime rate or other benchmark.

The fund seeks to maintain an average portfolio duration of one year or less. However, under certain market conditions, such as in periods of significant volatility in interest rates and spreads, the fund's duration may be longer than one year. Duration is a measure used to determine the sensitivity of a security's price to changes in interest rates. The longer a security's duration, the more sensitive it will be to changes in interest rates. For example, the price of a security with a duration of one year would be expected to fall approximately 1% if interest rates rose by one percentage point. In addition, under normal market conditions, the fund seeks to maintain a dollar-weighted average effective maturity of two years or less.

As part of the fund's principal investment strategy and for temporary defensive purposes, the fund may invest a substantial portion of the fund's assets in cash or cash equivalents, including commercial paper and short-term securities issued by the U.S. government, its agencies and instrumentalities. A larger percentage of such holdings could reduce the magnitude of the fund's gain in a period of rising market prices. Alternatively, a larger percentage of such holdings could reduce the magnitude of the fund's loss in a period of falling market prices and provide liquidity to make additional investments or to meet the fund's obligations.

The fund is nondiversified, which means it may invest a greater portion of its assets in fewer issuers than would otherwise be the case. In addition, under normal market conditions, the fund will invest more than 25% of its assets in securities issued by companies in the financials group of industries, which include, but are not limited to, banks, capital markets, financial services and insurance industries. However, the fund may invest 25% of its assets or less in such industries as a temporary defensive measure.

The fund relies on the professional judgment of its investment adviser to make decisions about the fund's portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good investment opportunities. The investment adviser believes that an important way to accomplish this is through fundamental research, which may include analysis of credit quality, general economic conditions and various quantitative measures and, in the case of corporate obligations, meeting with company executives and employees, suppliers, customers and competitors. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.

In addition to the principal investment strategies described above, the fund has other investment practices as described below and in the statement of additional information.

The fund may invest in certain other funds managed by the investment adviser or its affiliates ("Central Funds") to more effectively invest in a diversified set of securities in a specific asset class such as money market instruments, bonds and other securities. Shares of Central Funds are only offered for purchase to the fund's investment adviser and its affiliates and other funds, investment vehicles and accounts managed by the fund's investment adviser and its affiliates. Central Funds do not charge management fees. As a result, the fund does not bear additional management fees when investing in Central Funds, but the fund does bear its proportionate share of Central Fund expenses. The investment results of the portions of the fund's assets invested in the Central Funds will be based upon the investment results of the Central Funds.

The fund's investment adviser and its affiliates manage other funds and accounts with similar names, investment objectives and/or strategies. Certain investment processes among such funds and accounts and as compared to the fund may differ, depending on the applicable structures and related limitations and investment restrictions associated with a particular investment vehicle. The investment results of these funds and accounts will vary depending on a number of factors including, but not limited to, differences in investment processes, applicable fees and expenses, portfolio sizes, transaction costs, cash flows, currencies, taxes and portfolio holdings. For more information regarding the investment process of the fund, see the "Management and organization" section of this prospectus.

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The investment adviser may consider environmental, social and governance ("ESG") factors that, depending on the facts and circumstances, are material to the value of an issuer or instrument. ESG factors may include, but are not limited to, environmental issues (e.g., water use, emission levels, waste, environmental remediation), social issues (e.g., human capital, health and safety, changing customer behavior) or governance issues (e.g., board composition, executive compensation, shareholder dilution).

The following are principal risks associated with investing in the fund.

*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 or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; 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), bank failures 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 the issuer's financial condition or credit rating, 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. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer. To the extent that the market prices of securities of issuers in the same or related industries or sectors tend to move in the same direction at the same time, and these issuers make up a sizeable portion of the market, events affecting one issuer, industry or sector or the securities markets generally may have a larger impact. If such issuers represent a substantial portion of major market indices, or the economy, a downturn in the prices of their securities may have a disproportionate adverse effect on the overall market, even if other segments of the market perform well. The fund's portfolio managers invest in issuers based on their level of investment conviction. At times, the fund may invest more significantly in a single issuer, which could increase the fund's volatility and the risk of loss arising from the factors described above.

*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 quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change 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 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. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund's securities could cause the net asset 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 assessing credit and default risks.

*Investing in cash equivalents* **—** Cash equivalents, such as commercial paper, asset-backed commercial paper, short term-bank obligations and corporate bonds and notes that mature or may be redeemed or mature within thirteen months or less, like other fixed income instruments are subject to interest rate risk. However, the short-term nature of a commercial paper investment makes it less susceptible to volatility than many other fixed income securities because interest rate risk typically increases as maturity lengths increase. Commercial paper is often unsecured, but may be supported by letters of credit or other forms of collateral. Maturing commercial paper are usually repaid by the issuer from the proceeds of new commercial paper issuances. As a result, investment in commercial paper is subject to rollover risk, or the risk that the issuer cannot issue enough new commercial paper to satisfy its outstanding commercial paper. As with all fixed income securities, there is a chance that the issuer will default on its short-term obligations and these securities may become illiquid or suffer from reduced liquidity in these or other situations.

*Investing in financials* — Under normal circumstances, a significant portion of the fund's portfolio will be comprised of securities issued by companies in the financials group of industries. As a result, the fund may be more susceptible to any economic, business, political or other developments which generally affect this group of industries. The profitability of many types of financial companies may be adversely affected in certain market cycles, including during periods of rising interest rates, which may restrict the availability and increase the cost of

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capital, and declining economic conditions, which may cause credit losses due to financial difficulties of borrowers. Because many types of financial companies are vulnerable to these economic cycles, the fund's investments may lose value during such periods.

*Investing in securities backed by the U.S. government* — U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates and the credit rating of the U.S. government.

Securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government.

*Investing in asset-backed securities —* Asset-backed securities include debt obligations that represent interests in pools of income-bearing assets, such as consumer loans or receivables. While such securities are subject to the risks associated with investments in debt instruments generally (for example, credit, extension and interest rate risks), they are also subject to other and different risks. Asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt, potentially increasing the volatility of the securities and the fund's net asset value. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the fund having to reinvest the proceeds in lower yielding securities, effectively reducing the fund's income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the asset-backed securities are paid off could be extended, reducing the fund's cash available for reinvestment in higher yielding securities. Asset-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations and the value of property that secures the asset may decline in value and be insufficient, upon foreclosure, to repay the associated loans.

*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 cause the fund to lose significantly more than 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. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

*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 or difficult to determine, 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 to try to limit losses, or may be forced to sell at a loss. Depending on market conditions, reduced liquidity of fund holdings may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV.

*Investing outside the United States* — Securities of issuers domiciled outside the United States or with significant operations or revenues outside the United States, and securities tied economically to countries outside the United States, 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 are domiciled, operate or generate revenue or to which the securities are tied economically. 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, sanctions, 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 United States. Investments outside the United States may also be subject to different regulatory, legal, accounting, auditing, financial reporting and recordkeeping requirements, and may be more difficult to value, than those in the United States. In addition, the value of investments outside the United States 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, which could impact the liquidity of the fund's portfolio. The risks of investing outside the United States may be heightened in connection with investments in emerging markets.

*Interest rate risk* — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. 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. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

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*Market trading* — While the fund shares are listed for trading on an exchange, there can be no assurance that an active trading market for such shares will develop or be maintained by market makers or Authorized Participants, or that the fund's shares will continue to meet the requirements for listing or trading on any exchange or in any market. Trading in shares on the exchange may be halted due to market conditions or for reasons that, in the view of the exchange, make trading in the fund shares inadvisable.

The market prices of fund shares are expected to fluctuate, in some cases materially, in response to changes in the fund's NAV, the intraday value of the fund's holdings, and supply and demand for the fund shares. While the creation and redemption feature of the fund is designed to make it more likely that the fund's shares will typically trade on stock exchanges at prices close to the fund's next calculated NAV, the existence of significant market volatility, disruptions to creations and redemptions, adverse developments impacting market makers, Authorized Participants or other market participants or potential lack of an active trading market for fund shares and/or for the holdings of the fund (including through a trading halt), among other factors, may result in the shares trading at a significant premium or discount to NAV. If you buy fund shares when the market price is at a premium or sell fund shares when the market price is at a discount, you may pay more than, or receive less than, NAV, respectively.

When buying or selling fund shares through a broker, you may incur a brokerage commission or other charges, including the cost of the "spread" between what investors are willing to pay for fund shares (the "bid" price) and the price at which they are willing to sell fund shares (the "ask" price). The spread is wider where the fund has less trading volume and market liquidity. During times of significant market volatility or market disruption, including when trading of the fund's holdings may be halted, the bid-ask spread may increase significantly and cause fund shares to trade at a significant discount to the fund's NAV. These risks are exacerbated when the fund is small. Additionally, like shares of other issuers listed on a stock exchange, fund shares may be sold short and are therefore subject to the risk of increased volatility and price decreases associated with being sold short.

*Authorized Participant concentration* — Only Authorized Participants (as defined in the "Shareholder information" section below) may engage in creation or redemption transactions directly with the fund, and none of them is obligated to do so. The fund has a limited number of institutions that may act as Authorized Participants. In addition, to the extent that securities held by the fund are traded outside a collateralized settlement system, Authorized Participants may be required to post collateral on certain trades on an agency basis (on behalf of other market participants), which only a limited number of Authorized Participants may be able to do. If Authorized Participants exit the business or are unable to or elect not to engage in creation or redemption transactions, and no other Authorized Participant engages in such function, fund shares may trade at a premium or discount to the fund's net asset value and/or at wider intraday bid-ask spreads and possibly face trading halts or delisting.

*Nondiversification* — As a nondiversified fund, the fund may invest a greater percentage of its assets in fewer issuers than a diversified fund. A fund that invests in a relatively smaller number of issuers is more susceptible to risks associated with a single economic, political, geographic or regulatory occurrence than a diversified fund might be. In addition, poor performance by a single issuer could adversely affect fund performance more than if the fund were invested in a larger number of issuers. The value of the fund's shares can be expected to fluctuate more than might be the case if the fund were more broadly diversified.

*Exposure to country, region, industry or sector* — Subject to the fund's investment limitations, the fund may have significant exposure to a particular country, region, industry or sector. Such exposure may cause the fund to be more impacted by risks relating to and developments affecting the country, region, industry or sector, and thus its net asset value may be more volatile, than a fund without such levels of exposure. For example, if the fund has significant exposure in a particular country, then social, economic, regulatory or other issues that negatively affect that country may have a greater impact on the fund than on a fund that is more geographically diversified.

*Cash transactions* — The fund currently expects to effect at least part of its creations and redemptions for cash rather than in-kind securities. When the fund effects redemptions partly or wholly for cash, rather than in-kind, the fund may have to sell portfolio securities at inopportune times in order to obtain the cash needed to meet redemption orders. If the fund realizes gains on these sales, the fund generally will be required to recognize a gain it might not otherwise have recognized, or to recognize such gain sooner than would otherwise be required if it were to distribute portfolio securities in-kind. This strategy may cause shareholders to be subject to tax from distributions to which they would not otherwise be subject. The use of cash creations and redemptions may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV. As a result of such cash transactions, the fund could incur brokerage costs which, to the extent not offset by transaction fees that are payable by an Authorized Participant, may reduce the fund's NAV.

*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.

The following are additional risks associated with investing in the fund.

*Investing in futures contracts* — In addition to the risks generally associated with investing in derivative instruments, futures contracts are subject to the creditworthiness of the clearing organizations, exchanges and futures commission merchants with which the fund transacts. Additionally, although futures require only a small initial investment in the form of a deposit of initial margin, the amount of a potential loss on a futures contract could greatly exceed the initial amount invested. While futures contracts are generally liquid instruments, under certain market conditions futures may be deemed to be illiquid. For example, the fund may be temporarily prohibited from closing out its position in a futures contract if intraday price change limits or limits on trading volume imposed by the applicable futures exchange are triggered. If the fund is unable to close out a position on a futures contract, the fund would remain subject to the risk of adverse price movements until the fund is able to close out the futures position. The ability of the fund to successfully utilize futures contracts may depend in part upon the ability of the fund's investment adviser to accurately forecast interest rates and other economic factors and to

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assess and predict the impact of such economic factors on the futures in which the fund invests. If the investment adviser incorrectly forecasts economic developments or incorrectly predicts the impact of such developments on the futures in which it invests, the fund could suffer losses.

*Investing in swaps* — Swaps, including interest rate swaps, total return swaps and credit default swap indices, or CDSIs, are subject to many of the risks generally associated with investing in derivative instruments. Additionally, although swaps require no initial investment or only a small initial investment in the form of a deposit of initial margin, the amount of a potential loss on a swap could greatly exceed the initial amount invested. The use of swaps involves the risk that the investment adviser will not accurately predict anticipated changes in interest rates or other economic factors, which may result in losses to the fund. If the fund enters into a bilaterally negotiated swap, the counterparty may fail to perform in accordance with the terms of the swap. If a counterparty defaults on its obligations under a swap, the fund may lose any amount it expected to receive from the counterparty, potentially including amounts in excess of the fund's initial investment. Certain swaps are subject to mandatory central clearing or may be eligible for voluntary central clearing. Although clearing interposes a central clearinghouse as the ultimate counterparty to each participant's swap, central clearing will not eliminate (but may decrease) counterparty risk relative to uncleared bilateral swaps. Some swaps, such as CDSIs, may be dependent on both the individual credit of the fund's counterparty and on the credit of one or more issuers of any underlying assets. If the fund does not correctly evaluate the creditworthiness of its counterparty and, where applicable, of issuers of any underlying reference assets, the fund's investment in a swap may result in losses to the fund.

*Large shareholder concentration* — Certain shareholders, including other funds or accounts advised by the investment adviser, may from time to time own a substantial number of the fund's shares. In addition, a third party investor, the fund's investment adviser, an Authorized Participant, a lead market maker, or another entity may invest in the fund and hold its investment for a limited time solely to facilitate the commencement of the fund or the fund's achieving a specified size or scale. If any such large shareholder sells or redeems (through an Authorized Participant) its investment and the fund fails to maintain a certain level of size or scale, the fund may be negatively impacted.

*Cybersecurity breaches* — The fund may be subject to operational and information security risks through breaches in cybersecurity. Cybersecurity breaches can result from deliberate attacks or unintentional events, including "ransomware" attacks, the injection of computer viruses or malicious software code, the use of vulnerabilities in code to gain unauthorized access to digital information systems, networks or devices, or external attacks such as denial-of-service attacks on the investment adviser's or an affiliate's website that could render the fund's network services unavailable to intended end-users. These breaches may, among other things, lead to the unauthorized release of confidential information, misuse of the fund's assets or sensitive information, the disruption of the fund's operational capacity, the inability of fund shareholders to transact business, or the destruction of the fund's physical infrastructure, equipment or operating systems. These events could cause the fund to violate applicable privacy and other laws and could subject the fund to reputational damage, additional costs associated with corrective measures and/or financial loss. The fund may also be subject to additional risks if its third-party service providers, such as the fund's investment adviser, transfer agent, custodian, administrators and other financial intermediaries (including Authorized Participants), experience similar cybersecurity breaches and potential outcomes. Cybersecurity risks may also impact issuers of securities in which the fund invests, which may cause the fund's investments in such issuers to lose value.

*Portfolio turnover* — The fund may engage in frequent and active trading of its portfolio securities. Higher portfolio turnover may involve correspondingly greater transaction costs in the form of dealer spreads, brokerage commissions and other transaction costs on the sale of securities and on reinvestment in other securities. The sale of portfolio securities may also result in the realization of net capital gains, which are taxable when distributed to shareholders, unless the shareholder is exempt from taxation or his or her account is tax-favored. These costs and tax effects may adversely affect the fund's returns to shareholders. The fund's portfolio turnover rate may vary from year to year, as well as within a year.

In addition to the investment strategies described above, the fund has other investment practices that are described in the statement of additional information, which includes a description of other risks related to the fund's investment strategies and other investment practices. The fund's investment results will depend on the ability of the fund's investment adviser to navigate the risks discussed above as well as those described in the statement of additional information.

**Fund comparative indexes** The investment results table in this prospectus shows how the fund's average annual total returns compare with a broad measure of market results and, if applicable, other measures of market results that reflect the fund's investment universe. The Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. This index is unmanaged, and its results include reinvested dividends and/or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes. The ICE BofA 3-Month U.S. Treasury Bill Index measures the performance of a single issue of outstanding treasury bill which matures closest to, but not beyond, three months from the rebalancing date. The issue is purchased at the beginning of the month and held for a full month; at the end of the month that issue is sold and rolled into a newly selected issue. This index is unmanaged, and its results include reinvested distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes.

**Fund results** All fund results in this prospectus reflect the reinvestment of dividends and capital gain distributions, if any.

**Capital Group U.S. Multi-Sector Income ETF** The fund's investment objective is to provide a high level of current income. Its secondary investment objective is capital appreciation. While it has no present intention to do so, the fund's board may change the fund's investment objective without shareholder approval upon 60 days' prior written notice to shareholders.

The fund normally invests at least 80% of its assets in the United States. The fund invests primarily in bonds and other debt instruments, which may be represented by other investment instruments, including derivatives. In seeking to achieve a high level of current income, the fund invests in a broad range of debt securities across the credit spectrum. Normally, the fund will invest its assets across three primary sectors: high-yield corporate debt, investment grade corporate debt and securitized debt. The proportion of securities held by the fund

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within each of these credit sectors will vary with market conditions and the investment adviser's assessment of their relative attractiveness as investment opportunities. The fund's neutral mix of investments in each sector is approximately 50% high-yield corporate debt, 30% investment grade corporate debt and 20% securitized debt. Normally, the investment adviser expects the fund's asset allocation to approximate the neutral mix within a range of plus or minus 10-20% of assets per sector, although there are no absolute limits or range boundaries on the percent of assets invested in each sector. The fund may also opportunistically invest in other sectors including, but not limited to, U.S. government debt, municipal debt and non-corporate credit, in response to market conditions. Non-corporate credit means debt issued by any non-corporate entity including, but not limited to, regional governments, government agencies and supranational entities. Though investment decisions regarding the fund's portfolio may be informed by investment themes on a range of macroeconomic factors, the fund may invest in debt securities of any maturity or duration. Duration is a measure used to determine the sensitivity of a security's price to changes in interest rate. The longer a security's duration, the more sensitive it will be to changes in interest rates.

The fund may invest substantially in securities rated Ba1 or below and BB+ or below by Nationally Recognized Statistical Ratings Organizations designated by the fund's investment adviser, or in securities that are unrated but determined to be of equivalent quality by the fund's investment adviser. Such securities, sometimes referred to as "junk bonds," may include securities considered to be in distress or default and may be in the high-yield corporate debt sector or the securitized debt sector or any sector in which the fund may invest opportunistically. The fund may also invest up to 20% of its assets tied economically to countries outside the United States including, on a more limited basis, in securities of corporate issuers in emerging markets.

Though the fund may invest in various types of securitized debt instruments, the fund will normally invest the securitized debt portion of its portfolio in mortgage- and other asset-backed securities. The fund may, however, invest in other securitized debt instruments, including collateralized debt obligations (which may, from time to time, include lower-rated tranches of such instruments).

The fund may invest in futures contracts and swaps, which are types of derivatives. A derivative is a financial contract, the value of which is based on the value of an underlying financial asset (such as a stock, bond or currency), a reference rate or a market index.

The fund may invest in futures contracts and interest rate swaps in order to seek to manage the fund's sensitivity to interest rates, and in credit default swap indices, or CDSIs, in order to assume exposure to a diversified portfolio of credits or to hedge against existing credit risks. A futures contract is a standardized exchange-traded agreement to buy or sell a specific quantity of an underlying asset, rate or index at an agreed-upon price at a stipulated future date. An interest rate swap is an agreement between two parties to exchange or swap payments based on changes in one or more interest rates, one of which is typically fixed and the other of which is typically a floating rate based on a designated short-term interest rate, such as the Secured Overnight Financing Rate, prime rate or other benchmark. A CDSI is based on a portfolio of credit default swaps with similar characteristics, such as credit default swaps on high-yield bonds. In a typical CDSI transaction, one party – the protection buyer – is obligated to pay the other party – the protection seller – a stream of periodic payments over the term of the contract, provided generally that no credit event on an underlying reference obligation has occurred. If such a credit event has occurred, the protection seller must pay the protection buyer the loss on those credits.

The fund relies on the professional judgment of its investment adviser to make decisions about the fund's portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good investment opportunities. The investment adviser believes that an important way to accomplish this is through fundamental research, which may include analysis of credit quality, general economic conditions and various quantitative measures and, in the case of corporate obligations, meeting with company executives and employees, suppliers, customers and competitors. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.

In addition to the principal investment strategies described above, the fund has other investment practices as described below and in the statement of additional information.

The fund may hold cash or cash equivalents, including commercial paper and short-term securities issued by the U.S. government, its agencies and instrumentalities. The percentage of the fund invested in such holdings varies and depends on various factors, including market conditions. The investment adviser may determine that it is appropriate to invest a substantial portion of the fund's assets in such instruments in response to certain circumstances, such as periods of market turmoil. For temporary defensive purposes, the fund may invest without limitation in such instruments. A larger percentage of such holdings could reduce the magnitude of the fund's gain in a period of rising market prices. Alternatively, a larger percentage of such holdings could reduce the magnitude of the fund's loss in a period of falling market prices and provide liquidity to make additional investments or to meet the fund's obligations.

The fund may invest in certain other funds managed by the investment adviser or its affiliates ("Central Funds") to more effectively invest in a diversified set of securities in a specific asset class such as money market instruments, bonds and other securities. Shares of Central Funds are only offered for purchase to the fund's investment adviser and its affiliates and other funds, investment vehicles and accounts managed by the fund's investment adviser and its affiliates. Central Funds do not charge management fees. As a result, the fund does not bear additional management fees when investing in Central Funds, but the fund does bear its proportionate share of Central Fund expenses. The investment results of the portions of the fund's assets invested in the Central Funds will be based upon the investment results of the Central Funds.

The fund's investment adviser and its affiliates manage other funds and accounts with similar names, investment objectives and/or strategies. Certain investment processes among such funds and accounts and as compared to the fund may differ, depending on the applicable structures and related limitations and investment restrictions associated with a particular investment vehicle. The investment results of these funds and accounts will vary depending on a number of factors including, but not limited to, differences in investment processes, applicable fees and expenses, portfolio sizes, transaction costs, cash flows, currencies, taxes and portfolio holdings. For more information regarding the investment process of the fund, see the "Management and organization" section of this prospectus.

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The investment adviser may consider environmental, social and governance ("ESG") factors that, depending on the facts and circumstances, are material to the value of an issuer or instrument. ESG factors may include, but are not limited to, environmental issues (e.g., water use, emission levels, waste, environmental remediation), social issues (e.g., human capital, health and safety, changing customer behavior) or governance issues (e.g., board composition, executive compensation, shareholder dilution).

The following are principal risks associated with investing in the fund.

*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 or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; 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), bank failures 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 the issuer's financial condition or credit rating, 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. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer. To the extent that the market prices of securities of issuers in the same or related industries or sectors tend to move in the same direction at the same time, and these issuers make up a sizeable portion of the market, events affecting one issuer, industry or sector or the securities markets generally may have a larger impact. If such issuers represent a substantial portion of major market indices, or the economy, a downturn in the prices of their securities may have a disproportionate adverse effect on the overall market, even if other segments of the market perform well. The fund's portfolio managers invest in issuers based on their level of investment conviction. At times, the fund may invest more significantly in a single issuer, which could increase the fund's volatility and the risk of loss arising from the factors described above.

*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 quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change 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 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. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund's securities could cause the net asset 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 assessing credit and default risks.

*Investing in lower rated debt instruments* — Lower rated debt securities or instruments, rated Ba1/BB+ or below by Nationally Recognized Statistical Rating Organizations (also known as "junk bonds"), 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.

*Investing in mortgage-related and other asset-backed securities* — Mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, include debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as residential mortgage loans, home equity loans, mortgages on commercial buildings, consumer loans and equipment leases. While such securities are subject to the risks associated with investments in debt instruments generally (for example, credit, extension and interest rate risks), they are also subject to other and different risks. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt, potentially increasing the volatility of the securities and the fund's net asset value. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the fund having to reinvest the proceeds in lower yielding securities, effectively reducing the fund's income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid

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off could be extended, reducing the fund's cash available for reinvestment in higher yielding securities. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations and the value of property that secures the mortgages may decline in value and be insufficient, upon foreclosure, to repay the associated loans. Investments in asset-backed securities are subject to similar risks, as well as additional risks associated with the assets underlying those securities.

*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 cause the fund to lose significantly more than 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. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

*Exposure to country, region, industry or sector* — Subject to the fund's investment limitations, the fund may have significant exposure to a particular country, region, industry or sector. Such exposure may cause the fund to be more impacted by risks relating to and developments affecting the country, region, industry or sector, and thus its net asset value may be more volatile, than a fund without such levels of exposure. For example, if the fund has significant exposure in a particular country, then social, economic, regulatory or other issues that negatively affect that country may have a greater impact on the fund than on a fund that is more geographically diversified.

*Investing outside the United States* — Securities of issuers domiciled outside the United States or with significant operations or revenues outside the United States, and securities tied economically to countries outside the United States, 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 are domiciled, operate or generate revenue or to which the securities are tied economically. 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, sanctions, 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 United States. Investments outside the United States may also be subject to different regulatory, legal, accounting, auditing, financial reporting and recordkeeping requirements, and may be more difficult to value, than those in the United States. In addition, the value of investments outside the United States 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, which could impact the liquidity of the fund's portfolio. The risks of investing outside the United States may be heightened in connection with investments in emerging markets.

*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 or difficult to determine, 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 to try to limit losses, or may be forced to sell at a loss. Depending on market conditions, reduced liquidity of fund holdings may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV.

*Interest rate risk* — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. 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. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, the fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

*Portfolio turnover* — The fund may engage in frequent and active trading of its portfolio securities. Higher portfolio turnover may involve correspondingly greater transaction costs in the form of dealer spreads, brokerage commissions and other transaction costs on the sale of securities and on reinvestment in other securities. The sale of portfolio securities may also result in the realization of net capital gains, which are taxable when distributed to shareholders, unless the shareholder is exempt from taxation or his or her account is tax-favored. These costs and tax effects may adversely affect the fund's returns to shareholders. The fund's portfolio turnover rate may vary from year to year, as well as within a year.

*Market trading* — While the fund shares are listed for trading on an exchange, there can be no assurance that an active trading market for such shares will develop or be maintained by market makers or Authorized Participants, or that the fund's shares will continue to meet the requirements for listing or trading on any exchange or in any market. Trading in shares on the exchange may be halted due to market conditions or for reasons that, in the view of the exchange, make trading in the fund shares inadvisable.

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The market prices of fund shares are expected to fluctuate, in some cases materially, in response to changes in the fund's NAV, the intraday value of the fund's holdings, and supply and demand for the fund shares. While the creation and redemption feature of the fund is designed to make it more likely that the fund's shares will typically trade on stock exchanges at prices close to the fund's next calculated NAV, the existence of significant market volatility, disruptions to creations and redemptions, adverse developments impacting market makers, Authorized Participants or other market participants or potential lack of an active trading market for fund shares and/or for the holdings of the fund (including through a trading halt), among other factors, may result in the shares trading at a significant premium or discount to NAV. If you buy fund shares when the market price is at a premium or sell fund shares when the market price is at a discount, you may pay more than, or receive less than, NAV, respectively.

Foreign securities held by the fund may be traded in markets that close at a different time than the exchange on which the fund shares are listed. Liquidity in those securities may be reduced after the applicable closing times. Accordingly, during the time when the fund's exchange is open but after the applicable market closing, fixing or settlement times, bid-ask spreads on the fund's exchange and the corresponding premium or discount to the fund's NAV may widen.

When buying or selling fund shares through a broker, you may incur a brokerage commission or other charges, including the cost of the "spread" between what investors are willing to pay for fund shares (the "bid" price) and the price at which they are willing to sell fund shares (the "ask" price). The spread is wider where the fund has less trading volume and market liquidity. During times of significant market volatility or market disruption, including when trading of the fund's holdings may be halted, the bid-ask spread may increase significantly and cause fund shares to trade at a significant discount to the fund's NAV. These risks are exacerbated when the fund is small. Additionally, like shares of other issuers listed on a stock exchange, fund shares may be sold short and are therefore subject to the risk of increased volatility and price decreases associated with being sold short.

*Authorized Participant concentration* — Only Authorized Participants (as defined in the "Shareholder information" section below) may engage in creation or redemption transactions directly with the fund, and none of them is obligated to do so. The fund has a limited number of institutions that may act as Authorized Participants. In addition, to the extent that securities held by the fund are traded outside a collateralized settlement system, Authorized Participants may be required to post collateral on certain trades on an agency basis (on behalf of other market participants), which only a limited number of Authorized Participants may be able to do. If Authorized Participants exit the business or are unable to or elect not to engage in creation or redemption transactions, and no other Authorized Participant engages in such function, fund shares may trade at a premium or discount to the fund's net asset value and/or at wider intraday bid-ask spreads and possibly face trading halts or delisting.

*Cash transactions* — The fund currently expects to effect at least part of its creations and redemptions for cash rather than in-kind securities. When the fund effects redemptions partly or wholly for cash, rather than in-kind, the fund may have to sell portfolio securities at inopportune times in order to obtain the cash needed to meet redemption orders. If the fund realizes gains on these sales, the fund generally will be required to recognize a gain it might not otherwise have recognized, or to recognize such gain sooner than would otherwise be required if it were to distribute portfolio securities in-kind. This strategy may cause shareholders to be subject to tax from distributions to which they would not otherwise be subject. The use of cash creations and redemptions may also cause the fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV. As a result of such cash transactions, the fund could incur brokerage costs which, to the extent not offset by transaction fees that are payable by an Authorized Participant, may reduce the fund's NAV.

*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.

The following are additional risks associated with investing in the fund.

*Investing in futures contracts* — In addition to the risks generally associated with investing in derivative instruments, futures contracts are subject to the creditworthiness of the clearing organizations, exchanges and futures commission merchants with which the fund transacts. Additionally, although futures require only a small initial investment in the form of a deposit of initial margin, the amount of a potential loss on a futures contract could greatly exceed the initial amount invested. While futures contracts are generally liquid instruments, under certain market conditions futures may be deemed to be illiquid. For example, the fund may be temporarily prohibited from closing out its position in a futures contract if intraday price change limits or limits on trading volume imposed by the applicable futures exchange are triggered. If the fund is unable to close out a position on a futures contract, the fund would remain subject to the risk of adverse price movements until the fund is able to close out the futures position. The ability of the fund to successfully utilize futures contracts may depend in part upon the ability of the fund's investment adviser to accurately forecast interest rates and other economic factors and to assess and predict the impact of such economic factors on the futures in which the fund invests. If the investment adviser incorrectly forecasts economic developments or incorrectly predicts the impact of such developments on the futures in which it invests, the fund could suffer losses.

*Investing in swaps* — Swaps, including interest rate swaps, total return swaps and credit default swap indices, or CDSIs, are subject to many of the risks generally associated with investing in derivative instruments. Additionally, although swaps require no initial investment or only a small initial investment in the form of a deposit of initial margin, the amount of a potential loss on a swap could greatly exceed the initial amount invested. The use of swaps involves the risk that the investment adviser will not accurately predict anticipated changes in interest rates or other economic factors, which may result in losses to the fund. If the fund enters into a bilaterally negotiated swap, the counterparty may fail to perform in accordance with the terms of the swap. If a counterparty defaults on its obligations under a swap, the fund may lose any amount it expected to receive from the counterparty, potentially including amounts in excess of the fund's initial

95&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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investment. Certain swaps are subject to mandatory central clearing or may be eligible for voluntary central clearing. Although clearing interposes a central clearinghouse as the ultimate counterparty to each participant's swap, central clearing will not eliminate (but may decrease) counterparty risk relative to uncleared bilateral swaps. Some swaps, such as CDSIs, may be dependent on both the individual credit of the fund's counterparty and on the credit of one or more issuers of any underlying assets. If the fund does not correctly evaluate the creditworthiness of its counterparty and, where applicable, of issuers of any underlying reference assets, the fund's investment in a swap may result in losses to the fund.

*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 tend to have less developed political, economic and legal systems than those in developed countries. Accordingly, the governments of these countries may be less stable and more likely to intervene in the market economy, for example, by imposing capital controls, nationalizing a company or industry, placing restrictions on foreign ownership and on withdrawing sale proceeds of securities from the country, and/or imposing punitive taxes that could adversely affect the prices of securities. Information regarding issuers in emerging markets may be limited, incomplete or inaccurate, and such issuers may not be subject to regulatory, accounting, auditing, and financial reporting and recordkeeping standards comparable to those to which issuers in more developed markets are subject. The fund's rights with respect to its investments in emerging markets, if any, will generally be governed by local law, which may make it difficult or impossible for the fund to pursue legal remedies or to obtain and enforce judgments in local courts. In addition, the economies of these countries may be dependent on relatively few industries, may have limited access to capital and may be more susceptible to changes in local and global trade conditions and downturns in the world economy. 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, more vulnerable to market manipulation, and 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.

*Large shareholder concentration* — Certain shareholders, including other funds or accounts advised by the investment adviser, may from time to time own a substantial number of the fund's shares. In addition, a third party investor, the fund's investment adviser, an Authorized Participant, a lead market maker, or another entity may invest in the fund and hold its investment for a limited time solely to facilitate the commencement of the fund or the fund's achieving a specified size or scale. If any such large shareholder sells or redeems (through an Authorized Participant) its investment and the fund fails to maintain a certain level of size or scale, the fund may be negatively impacted.

*Cybersecurity breaches* — The fund may be subject to operational and information security risks through breaches in cybersecurity. Cybersecurity breaches can result from deliberate attacks or unintentional events, including "ransomware" attacks, the injection of computer viruses or malicious software code, the use of vulnerabilities in code to gain unauthorized access to digital information systems, networks or devices, or external attacks such as denial-of-service attacks on the investment adviser's or an affiliate's website that could render the fund's network services unavailable to intended end-users. These breaches may, among other things, lead to the unauthorized release of confidential information, misuse of the fund's assets or sensitive information, the disruption of the fund's operational capacity, the inability of fund shareholders to transact business, or the destruction of the fund's physical infrastructure, equipment or operating systems. These events could cause the fund to violate applicable privacy and other laws and could subject the fund to reputational damage, additional costs associated with corrective measures and/or financial loss. The fund may also be subject to additional risks if its third-party service providers, such as the fund's investment adviser, transfer agent, custodian, administrators and other financial intermediaries (including Authorized Participants), experience similar cybersecurity breaches and potential outcomes. Cybersecurity risks may also impact issuers of securities in which the fund invests, which may cause the fund's investments in such issuers to lose value.

In addition to the investment strategies described above, the fund has other investment practices that are described in the statement of additional information, which includes a description of other risks related to the fund's investment strategies and other investment practices. The fund's investment results will depend on the ability of the fund's investment adviser to navigate the risks discussed above as well as those described in the statement of additional information.

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**Fund comparative indexes** The investment results table in this prospectus shows how the fund's average annual total returns compare with a broad measure of market results and, if applicable, other measures of market results that reflect the fund's investment universe. The Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. This index is unmanaged, and its results include reinvested dividends and/or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes. Bloomberg Custom Multi-Sector Composite Index reflect the results of the Custom US CMBS ex AAA/US HY 2% Cap/ US ABS ex AAA/ US Corp Index from 06/01/2022 through 09/30/2023 and the Custom US CMBS Non-Agency ex AAA/US HY 2% Cap/ US ABS ex AAA/US Corp Index, thereafter. Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index covers the universe of fixed-rate, non-investment-grade debt. The index limits the maximum exposure of any one issuer to 2%. Bloomberg U.S. Corporate Investment Grade Index represents the universe of investment-grade publicly issued U.S. corporate and specified foreign debentures and secured notes that meet the specified maturity, liquidity, and quality requirements. Bloomberg CMBS Non-Agency ex AAA Index represents the universe of U.S. commercial mortgage-backed securities, excluding issuers with credit ratings of AAA, the highest credit quality rating. Bloomberg Non-Agency CMBS ex AAA Index represents the universe of U.S. commercial mortgage-backed securities, excluding agency and issuers with credit ratings of AAA, the highest credit quality rating. Bloomberg ABS ex AAA Index represents the universe of U.S. asset-backed securities, excluding issuers with credit ratings of AAA, the highest credit quality rating. The indexes are unmanaged, and results include reinvested distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes.

**Fund results** All fund results in this prospectus reflect the reinvestment of dividends and capital gain distributions, if any.

**Portfolio holdings** Portfolio holdings information for each fund in the series is available on our website at capitalgroup.com/etf. A description of the fund's policies and procedures regarding disclosure of information about its portfolio holdings is available in the statement of additional information.

97&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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Management and organization

**Investment adviser** Capital Research and Management Company, an experienced investment management organization founded in 1931, serves as the investment adviser to Capital Group Fixed Income ETF Trust (the "trust"). Capital Research and Management Company is a wholly owned subsidiary of The Capital Group Companies, Inc. and is located at 333 South Hope Street, Los Angeles, California 90071. Capital Research and Management Company manages the investment portfolios and business affairs of each fund. The management fee paid by the fund to the investment adviser for the most recent fiscal year, expressed as a percentage of average net assets of each fund, appears in the Annual Fund Operating Expenses table for the fund. Capital Group High Yield Bond ETF, which has not yet completed a full fiscal year, will pay to the investment adviser a management fee equal to the annual rate of 0.39% of the average net assets of the fund. Please see the statement of additional information for further details. A discussion regarding the basis for approval of the trust's Investment Advisory and Service Agreement by the board of trustees is contained in the trust's annual or semi-annual report in Form N-CSR for the most recent fiscal period. Except where the context indicates otherwise, all references hereinafter to the "fund" apply to any of the funds.

Capital Research and Management Company manages equity assets through three equity investment divisions and fixed income assets through its fixed income investment division, Capital Fixed Income Investors. The three equity investment divisions — Capital International Investors, Capital Research Global Investors and Capital World Investors — make investment decisions independently of one another.

The equity investment divisions may, in the future, be incorporated as wholly owned subsidiaries of Capital Research and Management Company. In that event, Capital Research and Management Company would continue to be the investment adviser, and day-to-day investment management of equity assets would continue to be carried out through one or more of these subsidiaries. Although not currently contemplated, Capital Research and Management Company could incorporate its fixed income investment division in the future and engage it to provide day-to-day investment management of fixed income assets. Capital Research and Management Company and each of the funds it advises have received an exemptive order from the U.S. Securities and Exchange Commission that allows Capital Research and Management Company to use, upon approval of the funds' board, its management subsidiaries and affiliates to provide day-to-day investment management services to the funds, including making changes to the management subsidiaries and affiliates providing such services. The funds' shareholders have approved this arrangement; however, there is no assurance that Capital Research and Management Company will incorporate its investment divisions or exercise any authority granted to it under the exemptive order.

**The Capital System<sup>TM</sup>** Capital Research and Management Company uses a system of multiple portfolio managers in managing assets. Under this approach, the portfolio of a fund is divided into segments managed by individual managers. In addition, Capital Research and Management Company's investment analysts may make investment decisions with respect to a portion of a fund's portfolio. Investment decisions for each fund and account managed by Capital Research and Management Company are subject to a fund's objective(s), policies and restrictions of such fund or account and the oversight of the appropriate investment-related committees of Capital Research and Management Company and its investment divisions.

Certain senior members of Capital Fixed Income Investors, the investment adviser's fixed income investment division, serve on the Portfolio Strategy Group. The group utilizes a research-driven process with input from the investment adviser's analysts, portfolio managers and economists to define investment themes on a range of macroeconomic factors, including duration, yield curve and sector allocation. The investment decisions made by the fund's portfolio managers are informed by the investment themes discussed by the group.

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The table below shows the investment experience and role in management of the funds for each of the fund's primary portfolio managers.

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| | | |
|:---|:---|:---|
| **Portfolio manager** | **Primary title with investment adviser (or affiliate)**<br>**and investment experience** | **Portfolio manager's role in management of,** <br>**and experience in, the fund(s) since:** |
| **Pramod Atluri** | Partner – Capital Fixed Income Investors<br> Investment professional since 2004 (with Capital Research and Management Company or affiliate since 2016) | Serves as a fixed income portfolio manager for: <br>Capital Group Core Bond ETF — 2023 |
| **Philip Chitty** | Partner – Capital Fixed Income Investors<br> Investment professional since 1995 (with Capital Research and Management Company or affiliate since 2004) | Serves as a fixed income portfolio manager for: <br>Capital Group International Bond ETF (USD-Hedged) — 2024 |
| **Tom Chow** | Partner – Capital Fixed Income Investors<br> Investment professional since 1989 (with Capital Research and Management Company or affiliate since 2015) | Serves as a fixed income portfolio manager for: <br>Capital Group High Yield Bond ETF — 2025 |
| **Lee Chu** | Partner – Capital Fixed Income Investors<br> Investment professional since 2008 (all with Capital Research and Management Company or affiliate) | Serves as a fixed income portfolio manager for: <br>Capital Group Municipal High-Income ETF — 2025 |
| **Andrew A. Cormack** | Partner – Capital Fixed Income Investors<br> Investment professional since 2004 (with Capital Research and Management Company or affiliate since 2018) | Serves as a fixed income portfolio manager for: <br>Capital Group International Bond ETF (USD-Hedged) — 2024 |
| **Oliver V. Edmonds** | Partner – Capital Fixed Income Investors<br> Investment professional since 2002 (with Capital Research and Management Company or affiliate since 2003) | Serves as a fixed income portfolio manager for: <br> Capital Group Core Bond ETF - 2023<br> Capital Group Ultra Short Income ETF — 2024 |
| **Vincent J. Gonzales** | Partner – Capital Fixed Income Investors<br> Investment professional since 2008 (with Capital Research and Management Company or affiliate since 2012) | Serves as a fixed income portfolio manager for: <br>Capital Group Short Duration Income ETF - 2022 |
| **Xavier Goss** | Partner – Capital Fixed Income Investors<br> Investment professional since 2003 (with Capital Research and Management Company or affiliate since 2021) | Serves as a fixed income portfolio manager for: <br>Capital Group Core Plus Income ETF - 2022<br>Capital Group U.S. Multi-Sector Income ETF - 2022 |
| **David A. Hoag** | Partner – Capital Fixed Income Investors<br> Investment professional since 1988 (with Capital Research and Management Company or affiliate since 1991) | Serves as a fixed income portfolio manager for: <br>Capital Group Core Plus Income ETF — 2022 |
| **Sandro Lazzarini** | Partner – Capital Fixed Income Investors<br> Investment professional since 2007 (with Capital Research and Management Company or affiliate since 2015) | Serves as a fixed income portfolio manager for: <br>Capital Group U.S. Multi-Sector Income ETF - 2025 |
| **Steven D. Lotwin** | Partner – Capital Fixed Income Investors<br> Investment professional since 2001 (all with Capital Research and Management Company or affiliate) | Serves as a fixed income portfolio manager for: <br> Capital Group Short Duration Income ETF - 2022<br> Capital Group Ultra Short Income ETF — 2024 |
| **Vikas Malhotra** | Partner – Capital Fixed Income Investors<br> Investment professional since 2011 (with Capital Research and Management Company or affiliate since 2016) | Serves as a fixed income portfolio manager for: <br>Capital Group Short Duration Municipal Income ETF - 2023 |
| **Mark Marinella** | Partner – Capital Fixed Income Investors<br> Investment professional since 1986 (with Capital Research and Management Company or affiliate since 2013) | Serves as a fixed income portfolio manager for: <br>Capital Group Municipal Income ETF - 2022<br>Capital Group Short Duration Municipal Income ETF - 2023 |
| **Damien J. McCann** | Partner – Capital Fixed Income Investors<br> Investment professional since 2000 (all with Capital Research and Management Company or affiliate) | Serves as a fixed income portfolio manager for: <br>Capital Group Core Plus Income ETF - 2022<br>Capital Group U.S. Multi-Sector Income ETF - 2022 |
| **Andy Moth** | Partner – Capital Fixed Income Investors<br> Investment professional since 2003 (with Capital Research and Management Company or affiliate since 2016) | Serves as a fixed income portfolio manager for: <br>Capital Group High Yield Bond ETF — 2025 |
| **Chitrang Purani** | Partner – Capital Fixed Income Investors<br> Investment professional since 2004 (with Capital Research and Management Company or affiliate since 2022) | Serves as a fixed income portfolio manager for: <br> Capital Group Core Bond ETF — 2023<br> Capital Group Core Plus Income ETF — 2025 |
| **Chad M. Rach** | Partner – Capital Fixed Income Investors<br> Investment professional since 1995 (with Capital Research and Management Company or affiliate since 2004) | Serves as a fixed income portfolio manager for: <br>Capital Group Municipal High-Income ETF — 2024 |

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99&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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| | | |
|:---|:---|:---|
| **Portfolio manager** | **Primary title with investment adviser (or affiliate)**<br>**and investment experience** | **Portfolio manager's role in management of,** <br>**and experience in, the fund(s) since:** |
| **Thomas Reithinger** | Partner – Capital Fixed Income Investors<br> Investment professional since 2011 (with Capital Research and Management Company or affiliate since 2013) | Serves as a fixed income portfolio manager for: <br>Capital Group International Bond ETF (USD-Hedged) — 2024 |
| **Jerome Solomon** | Partner – Capital Fixed Income Investors<br> Investment professional since 1992 (with Capital Research and Management Company or affiliate since 2008) | Serves as a fixed income portfolio manager for: <br> Capital Group Municipal High-Income ETF — 2024<br> Capital Group Municipal Income ETF - 2022 |
| **Scott Sykes** | Partner – Capital Fixed Income Investors<br> Investment professional since 2002 (with Capital Research and Management Company or affiliate since 2005) | Serves as a fixed income portfolio manager for: <br>Capital Group U.S. Multi-Sector Income ETF - 2022 |
| **Shannon Ward** | Partner – Capital Fixed Income Investors<br> Investment professional since 1992 (with Capital Research and Management Company or affiliate since 2017) | Serves as a fixed income portfolio manager for: <br> Capital Group High Yield Bond ETF — 2025<br> Capital Group U.S. Multi-Sector Income ETF — 2022 |
| **Courtney K. Wolf** | Partner – Capital Fixed Income Investors<br> Investment professional since 2005 (all with Capital Research and Management Company or affiliate) | Serves as a fixed income portfolio manager for: <br> Capital Group Municipal Income ETF - 2022 |

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Information regarding the portfolio managers' compensation, their ownership of securities in the fund and other accounts they manage is in the statement of additional information.

The investment adviser and its affiliates manage funds and accounts that invest in the same securities as the funds. When implementing investment decisions for each fund and other funds and accounts, the adviser considers various factors, including, but not limited to, the investment objectives and strategies of each fund and account, security and sector characteristics, exposure levels, market and liquidity conditions, as well as economic, political or regulatory factors. While investment decisions for the purchase or sale of the same security for funds and accounts are generally implemented together, such investment considerations will at times result in the same fixed income security being bought or sold for a fund after it has been bought or sold for other funds and accounts.

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Shareholder information

The fund creates or redeems its shares at NAV per share only in aggregations of a specified number of shares ("creation units"). Only an Authorized Participant may engage in creation or redemption transactions directly with the fund. The procedures for creating and redeeming fund shares, including the role of the Authorized Participant and a description of the associated fees, are described in the "Creations and redemptions" section of this prospectus.

Once created, the fund shares generally trade in the secondary market in amounts less than a creation unit. The fund shares are listed on an exchange as shown in the table below (the "listing exchange") for trading during the trading day. The fund shares can be bought and sold throughout the trading day like shares of other publicly traded companies. There is no minimum investment for shares of the fund. The shares of each fund trade under a ticker symbol as shown in the table below.

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| | | |
|:---|:---|:---|
| Fund | Ticker | Exchange |
| Capital Group Core Bond ETF | CGCB | NYSE Arca, Inc. |
| Capital Group Core Plus Income ETF | CGCP | NYSE Arca, Inc. |
| Capital Group High Yield Bond ETF | CGHY | NYSE Arca, Inc. |
| Capital Group International Bond ETF (USD-Hedged) | CGIB | NYSE Arca, Inc. |
| Capital Group Municipal High-Income ETF | CGHM | NYSE Arca, Inc. |
| Capital Group Municipal Income ETF | CGMU | NYSE Arca, Inc. |
| Capital Group Short Duration Income ETF | CGSD | NYSE Arca, Inc. |
| Capital Group Short Duration Municipal Income ETF | CGSM | NYSE Arca, Inc. |
| Capital Group Ultra Short Income ETF | CGUI | NYSE Arca, Inc. |
| Capital Group U.S. Multi-Sector Income ETF | CGMS | NYSE Arca, Inc. |

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The listing exchange is typically open for trading Monday through Friday and is closed on weekends and on the following holidays (or the days on which they are observed): New Year's Day, Martin Luther King, Jr. Day, Presidents' Day, Good Friday, Memorial Day, Juneteenth National Independence Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day.

**Share prices** The fund's shares are generally purchased and sold in the secondary market at the market price on the listing exchange, except with respect to Authorized Participants, which may purchase and redeem shares from the fund at NAV. The market price generally differs from the fund's daily NAV. It is affected not only by the fund's NAV, but also by market forces such as the supply of and demand for the fund shares, the intraday value of the fund's holdings, economic conditions and other factors. See "Premiums and discounts" section below.

**Costs of buying and selling fund shares** Buying or selling fund shares on an exchange or other secondary market involves two types of costs that typically apply to exchange-traded securities transactions. First, when buying or selling fund shares through a broker, you may incur a brokerage commission or other charges. The commission is frequently a fixed amount and may be a significant proportional cost for investors seeking to buy or sell small amounts of the fund shares. Second, you may incur the cost of the "spread," that is, any difference between the bid price and the ask price. The fund share's spread varies over time based on the fund's trading volume and market liquidity. The spread is generally lower if the fund has high trading volume and market liquidity, and higher if the fund has low trading volume and market liquidity (which is often the case for funds that are newly launched or small in size). A fund share's spread may also be affected by the liquidity or illiquidity of the underlying securities held by the fund, particularly for newly launched or smaller funds, or in instances of significant market volatility or market disruption.

**Beneficial ownership** The Depository Trust Company ("DTC") serves as the securities depository for shares of the fund. The fund shares are held only in book-entry form, which means that no stock certificates are issued. DTC or its nominee is the record owner of, and holds legal title to, all outstanding fund shares. Investors owning fund shares are beneficial owners as shown on the records of DTC or its participants. DTC participants include securities brokers and dealers, banks, trust companies, clearing corporations and other institutions that directly or indirectly maintain a custodial relationship with DTC. As a beneficial owner of shares, you are not entitled to receive physical delivery of stock certificates or to have shares registered in your name, and you are not considered a registered owner of shares. Therefore, to exercise any right as an owner of shares, you must rely upon the procedures of DTC and its participants. These procedures are the same as those that apply to any other securities that you hold in book-entry or "street name" form.

**Premiums and discounts** When available, information about the difference between the daily market price of the fund's shares on the exchange and the fund's NAV for various periods can be found on the fund's website, capitalgroup.com/etf. NAV is the price at which the fund directly issues and redeems its shares. As described in more detail below, the fund's NAV is calculated according to the fund's pricing and valuation policies and will fluctuate based on the value of its portfolio holdings. The market price of the fund shares, on the other hand, is generally the official closing price of the fund's shares on an exchange, and may be at, above (at a premium) or below (at a discount) its NAV. The fund share's market price will fluctuate with changes in its NAV, as well as market supply and demand for the fund's shares, the intraday value of the fund's holdings, economic conditions and other factors. You may pay more than NAV when you buy fund shares and receive less than NAV when you sell those shares, because fund shares are bought and sold at current market prices. The market price is also used to calculate market returns of the fund.

**Frequent trading of fund shares** The fund is designed to offer most investors an investment that can be bought and sold frequently in the secondary market without impact on the fund. In addition, frequent trading by Authorized Participants (defined below), which can purchase and redeem shares directly from the fund, is designed to enable the market price of fund shares to remain at or close to NAV. Accordingly, the fund's board has not adopted policies and procedures designed to discourage excessive or short-term trading by these investors. The fund accommodates frequent purchases and redemptions of creation units by Authorized Participants and does not place a

101&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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limit on purchases or redemptions of creation units by these investors. The fund reserves the right to reject any purchase order at any time. The fund also reserves the right to reject any redemption order in accordance with applicable law.

With respect to redemption baskets comprised of foreign common stocks, the fund may deliver such foreign common stocks more than seven (7) (but no more than fifteen (15)) calendar days after the fund's shares are tendered for redemption as a result of local market holidays. In addition, the fund reserves the right to impose restrictions on disruptive, excessive, or short-term trading.

**Determining fund net asset value** NAV is computed by adding the value of a fund's investments, cash and other assets, subtracting the fund's liabilities, and dividing the result by the number of shares that are outstanding. Realized investment income and gain is included in the fund's NAV until the ex-dividend date, when the declared dividend amount is treated as a fund liability. The fund's NAV 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. If the New York Stock Exchange makes a scheduled (e.g., the day after Thanksgiving) or an unscheduled close prior to 4 p.m. New York time, the fund's NAV will be determined at approximately the time the New York Stock Exchange closes on that day. If on such a day market quotations and prices from third-party pricing services are not based as of the time of the early close of the New York Stock Exchange but are as of a later time (up to approximately 4 p.m. New York time), for example because the market remains open after the close of the New York Stock Exchange, those later market quotations and prices will be used in determining the funds' NAV. The price at which creations and redemptions occur are based on the next calculation of NAV after a creation or redemption order is received in acceptable form in accordance with the applicable Authorized Participant Agreement, as defined in the "Creations and redemptions" section of this prospectus.

Equity securities are valued primarily on the basis of market quotations, and debt securities are valued primarily on the basis of prices from third-party pricing services. Futures contracts are valued primarily on the basis of settlement prices. The fund's portfolio investments are valued in accordance with procedures for making fair value determinations if market quotations or prices from third-party pricing services, as applicable, are not readily available or are not considered reliable. For example, if events occur between the close of markets outside the United States and the close of regular trading on the New York Stock Exchange that, in the opinion of the investment adviser, materially affect the value of any of the fund's equity securities that trade principally in those international markets, those securities will be valued in accordance with fair value procedures. Similarly, fair value procedures may be employed if an issuer defaults on its debt securities and there is no market for its securities. Use of these procedures is intended to result in more appropriate net asset values and, where applicable, to reduce potential arbitrage opportunities otherwise available to short-term investors.

Because the fund may hold securities that are listed primarily on foreign exchanges that trade on weekends or days when the fund does not price its shares, the values of securities held in the fund may change on days when you will not be able to purchase or redeem the fund shares.

**Creations and redemptions** Prior to trading in the secondary market, shares of the fund are "created" at NAV only in block-size creation units or multiples thereof. Creations and redemptions must be made through a firm (an "Authorized Participant") that is a member or participant of a clearing agency registered with the SEC, and that has executed a written agreement (the "Authorized Participant Agreement") with the funds' distributor, Capital Client Group, Inc. (the "distributor"), an affiliate of the investment adviser, with respect to the purchase and redemption of creation units.

A creation transaction, which is subject to acceptance by the distributor or its agents, generally takes place when an Authorized Participant deposits into the fund (i) cash or (ii) a designated portfolio of securities, assets or other positions (a "creation basket"), and an amount of cash (including any cash representing the value of substituted securities, assets or other positions), if any, in either case which approximate the holdings of the fund in exchange for a specified number of creation units. Similarly, shares can be redeemed only in creation units, generally for (i) cash or (ii) a designated portfolio of securities, assets or other positions (a "redemption basket") held by the fund and an amount of cash (including any portion of such securities, assets or other positions for which cash may be substituted). The fund currently expects to offer creation units partially or solely for cash.

Except when aggregated in one or more creation units, shares are generally not redeemable by the fund. Creation and redemption baskets may differ, and the fund may accept "custom baskets." More information regarding custom baskets is contained in the fund's statement of additional information. The prices at which creations and redemptions occur are based on the next calculation of NAV after a creation or redemption order is received in an acceptable form under the Authorized Participant Agreement.

Authorized Participants may create or redeem creation units for their own accounts or for their customers, including, without limitation, affiliates of the fund. In the event of a system failure or other interruption, including disruptions at market makers or Authorized Participants, orders to purchase or redeem creation units either may not be executed according to the fund's instructions or may not be executed at all, or the fund may not be able to place or change orders.

When engaging in in-kind transactions, the fund intends to comply with U.S. federal securities laws in accepting securities for deposit and satisfying redemptions with redemption securities by, among other means, assuring that any securities accepted for deposit and any securities used to satisfy redemption requests will be sold in transactions that would be exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). Further, an Authorized Participant that is not a "qualified institutional buyer," as such term is defined in Rule 144A under the 1933 Act, will not be able to receive restricted securities eligible for resale under Rule 144A.

Because new shares may be created and issued on an ongoing basis, at any point during the life of the fund, a "distribution," as such term is used in the 1933 Act, may occur. Broker-dealers and other persons are cautioned that some activities on their part may, depending on the circumstances, result in their being deemed participants in a distribution in a manner that could render them statutory underwriters subject to the prospectus delivery and liability provisions of the 1933 Act. Any determination of whether one is an underwriter must take into account all the relevant facts and circumstances of each particular case.

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 102

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Broker-dealers should also note that dealers who are not "underwriters" but are participating in a distribution (as contrasted to ordinary secondary transactions), and thus dealing with shares that are part of an "unsold allotment" within the meaning of Section 4(a)(3)(C) of the 1933 Act, would be unable to take advantage of the prospectus delivery exemption provided by Section 4(a)(3) of the 1933 Act. For delivery of prospectuses to exchange members, the prospectus delivery mechanism of Rule 153 under the 1933 Act is available only with respect to transactions on a national securities exchange.

In addition, certain affiliates of the fund and the investment adviser may purchase and resell fund shares pursuant to this prospectus.

**Derivative actions** The trust's declaration of trust provides a process for the bringing of derivative actions by shareholders. Except for claims under federal securities laws, no shareholder may maintain a derivative action on behalf of the fund unless holders of at least 20% of the outstanding shares of the fund join in bringing such action. Prior to bringing a derivative action, a demand by the complaining shareholder must first be made on the trustees. Following receipt of the demand, the trustees must be afforded a reasonable amount of time to consider and investigate the demand. The trustees will be entitled to retain counsel or other advisers in considering the merits of the request and, except for claims under federal securities laws, the trustees may require an undertaking by the shareholders making such request to reimburse the fund for the expense of any such advisers in the event that the trustees determine not to bring such action.

103&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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Distributions and taxes

**Dividends and distributions** Dividends from net investment income, if any, generally are declared and paid at least monthly by the fund. With respect to taxable funds only, in the event the fund's distribution of net investment income exceeds its earnings and profits for tax purposes, a portion of such distribution may be classified as return of capital. Distributions of capital gains, if any, generally are declared and paid once a year, but the fund may make distributions on a more frequent basis. The fund reserves the right to declare special distributions if, in its reasonable discretion, such action is necessary or advisable to preserve its status as a regulated investment company under the Internal Revenue Code of 1986, as amended, or to avoid imposition of income or excise taxes on undistributed income or realized gains. Dividends and other distributions on shares of the fund are distributed on a pro rata basis to beneficial owners of such shares. Dividend payments are made through DTC participants and indirect participants to beneficial owners of record with proceeds received from the fund.

**Dividend reinvestment service** If you bought your shares in the secondary market, your broker is responsible for distributing the income and capital gain distributions to you. To reinvest dividend and capital gains distributions, you must hold your fund shares at a broker that offers a reinvestment service. This can be the broker's own service, or a service made available by a third party, such as the broker's outside clearing firm or the DTC. If this service is available and used, dividend distributions of both income and realized gains will be automatically reinvested in additional shares of the fund purchased in the secondary market. To determine whether a reinvestment service is available and whether there is a commission or other charge for using this service, consult your broker.

**Taxes on dividends and distributions**

<u>For Capital Group Municipal Income ETF, Capital Group Municipal High-Income ETF and Capital Group Short Duration Municipal Income ETF only (collectively, the "municipal funds")</u>: Interest on municipal bonds is generally not included in gross income for federal tax purposes. Subject to certain requirements, the fund is permitted to pass through to its shareholders the interest earned on municipal bonds as federally exempt-interest dividends. Taxable dividends, including distributions of short-term capital gains, however, are subject to federal taxation at the applicable rates for ordinary income. The interest earned on certain bonds may be treated as income subject to federal alternative minimum tax. The fund's distributions of net long-term capital gains are taxable as long-term capital gains.

Depending on their state of residence, shareholders of the municipal funds may be able to exempt from state taxation some or all of the federally tax-exempt income dividends paid by the funds.

Moreover, any federally taxable dividends and capital gains distributions from the fund may also be subject to state tax.

Any taxable dividends or capital gain distributions you receive from the fund normally will be taxable to you when made, regardless of whether you reinvest dividends or capital gain distributions or receive them in cash.

<u>For all other funds</u>: For federal tax purposes, dividends and distributions of short-term capital gains are taxable as ordinary income. The fund's distributions of net long-term capital gains are taxable as long-term capital gains. Any dividends or capital gain distributions you receive from the fund will normally be taxable to you when made, regardless of whether you reinvest dividends or capital gain distributions or receive them in cash.The fund currently expects to effect at least part of its creations and redemptions for cash rather than in-kind securities. Because of this, the fund may be unable to realize certain tax benefits associated with in-kind transfers of portfolio securities. Shareholders may be subject to tax on gains they would not otherwise have been subject to and/or at an earlier date than if the fund had effected redemptions wholly on an in-kind basis. If investors buy shares when the fund has realized but not yet distributed income or capital gains, they will be "buying a dividend" by paying the full price for the shares and then receiving a portion of the price back in the form of a taxable distribution. Any taxable distributions investors receive will normally be taxable to them when they receive them. Returns of capital distributions decrease your cost basis and are not taxable until your cost basis has been reduced to zero. If your cost basis is zero, returns of capital distributions are treated as capital gains.

**Taxes on exchange-listed share sales** Currently, any capital gain or loss realized upon a sale of the fund's shares is generally treated as long-term capital gain or loss if the shares have been held for more than one year and as short-term capital gain or loss if the shares have been held for one year or less. Capital loss realized on the sale of shares held for six months or less will be treated as long-term capital loss to the extent of any capital gain dividends received by the shareholder. Additionally, with respect to municipal funds only, capital loss realized on the sale of shares held for six months or less may be disallowed to the extent of any distributions treated as exempt-interest dividends with respect to the shares. The ability to deduct capital losses may be limited.

The foregoing discussion summarizes some of the consequences under current U.S. federal tax law of an investment in the fund. It is not a substitute for personal tax advice. You may also be subject to state and local taxation on fund distributions and sales of shares. Consult your personal tax advisor about the potential tax consequences of an investment in shares of the fund under all applicable tax laws.

Distribution

*Distributor* The distributor distributes the fund's shares. The distributor or its agent distributes creation units for the fund on an agency basis. The distributor does not maintain a secondary market in shares of the fund. The distributor has no role in determining the policies of the fund or the securities that are purchased or sold by the fund.

*Distribution and service (12b-1) fees* The fund has adopted a distribution plan under Rule 12b-1 of the 1940 Act that allows the fund to pay distribution fees of .25% per year, to those who sell and distribute the fund shares and provide other services to shareholders. However, the fund board has determined not to authorize payment of a Rule 12b-1 plan fee at this time. Because these fees are paid out of the fund's assets on an ongoing basis, to the extent that a fee is authorized, over time these fees will increase the cost of your investment and may cost you more than paying other types of sales charges.

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 104

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Other compensation to dealers The distributor, at its expense, provides additional compensation to investment dealers. These payments may be made, at the discretion of the distributor, to dealers with which it has a substantive distribution relationship involving the sale of Capital Group ETFs. The payments are typically made in fixed dollars or based on a percentage of eligible assets of Capital Group ETF shares held by the dealer. Eligible assets are all Capital Group ETF assets other than assets held in certain IRAs and retirement accounts. Dealers are responsible for identifying these assets and may direct Capital Client Group, Inc. to exclude additional assets.

Payments made pursuant to the paragraph above support various efforts, including, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·making the Capital Group ETFs available through firm distribution platforms including self-directed platforms for the public as well as clearing, custody and recordkeeping services for other intermediaries and related sales infrastructure;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·account maintenance and support, statement preparation, transaction processing and operational improvements; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·training, education and marketing opportunities, support for transaction fees, technology costs and data (including fees to obtain information on financial professionals to better tailor training, education and marketing opportunities).

A list of firms anticipated to receive additional compensation (as described above) in an amount exceeding $100,000 based on prior payments is included in the statement of additional information.

The distributor will, on a periodic basis, determine the advisability of continuing these payments.

The distributor also pays expenses associated with meetings and other training and educational opportunities conducted by selling dealers, advisory platform providers and other intermediaries to facilitate educating financial professionals and shareholders about Capital Group ETFs. In addition, the distributor may make payments to other third parties for ETF data.

If investment advisers, distributors or other affiliates of ETFs pay compensation or other incentives to investment dealers in differing amounts, dealer firms and their financial professionals may have financial incentives for recommending a particular ETF over other ETFs, mutual funds or investments, creating a potential conflict of interest. You should consult with your financial professional and review carefully any disclosure by your financial professional's firm as to the compensation received.

105&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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Financial highlights

The Financial Highlights tables are intended to help you understand each fund's results for the past five fiscal years, or, if shorter, for the period of the fund's operations. Certain information reflects financial results for a single share of a fund. The total returns in the tables represent the rate that an investor would have earned or lost on an investment in each fund (assuming reinvestment of all dividends and capital gain distributions). The information in the Financial Highlights tables have been audited by PricewaterhouseCoopers LLP, whose current report, along with the funds' financial statements, is included in the statement of additional information, which is available upon request.

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| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Income (loss) from**<br>**investment operations<sup>1</sup>** | **Income (loss) from**<br>**investment operations<sup>1</sup>** | **Income (loss) from**<br>**investment operations<sup>1</sup>** | Dividends and distributions | Dividends and distributions | Dividends and distributions | | | | | |
| Year ended | Net asset<br>value,<br>beginning<br>of year | Net<br>investment<br>income<br>(loss) | Net gains<br>(losses) on<br>securities<br>(both<br>realized and<br>unrealized) | Total from<br>investment<br>operations | Dividends<br>(from net<br>investment<br>income) | Distributions<br>(from capital<br>gains) | Total<br>dividends<br>and<br>distributions | Net asset<br>value, end<br>of year | Total return | Net assets,<br>end of<br>year<br>(in millions) | Ratio of<br>expenses to<br>average net<br>assets<sup>2</sup> | Ratio of<br>net income<br>(loss) to<br>average net<br>assets |
| Core Bond ETF | Core Bond ETF | Core Bond ETF |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | $25.76 | $1.24 | $.62 | $1.86 | $(1.12) | $— | $(1.12) | $26.50 | 7.33% | $3654 | .27% | 4.72% |
| 12/31/2024 | 26.38 | 1.24 | (.83) | .41 | (1.03) |  | (1.03) | 25.76 | 1.58 | 1579 | .27 | 4.76 |
| 12/31/2023<sup>3, 4</sup> | 25.00 | .45 | 1.18 | 1.63 | (.25) |  | (.25) | 26.38 | 6.56<sup>5</sup> | 97 | .27<sup>6</sup> | 6.77<sup>6</sup> |
| Core Plus Income ETF | Core Plus Income ETF | Core Plus Income ETF |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | $22.18 | $1.44 | $.18 | $1.62 | $(1.16) | $— | $(1.16) | $22.64 | 7.44% | $6501 | .34% | 6.40% |
| 12/31/2024 | 22.66 | 1.55 | (.88) | .67 | (1.15) |  | (1.15) | 22.18 | 3.01 | 3985 | .34 | 6.91 |
| 12/31/2023 | 22.23 | 1.55 | .01 | 1.56 | (1.13) |  | (1.13) | 22.66 | 7.25 | 1565 | .34 | 7.04 |
| 12/31/2022<sup>3, 7</sup> | 25.30 | .83 | (3.24) | (2.41) | (.66) |  | (.66) | 22.23 | (9.59)<sup>5</sup> | 455 | .34<sup>6</sup> | 4.24<sup>6</sup> |
| High Yield Bond ETF | High Yield Bond ETF | High Yield Bond ETF |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025<sup>3, 8</sup> | $25.00 | $.78 | $.32 | $1.10 | $(.78) | $— | $(.78) | $25.32 | 4.46%<sup>5</sup> | $53 | .39%<sup>6</sup> | 5.88%<sup>6</sup> |
| International Bond ETF (USD-Hedged) | International Bond ETF (USD-Hedged) | International Bond ETF (USD-Hedged) |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | $25.28 | $1.02 | $.11 | $1.13 | $(1.00) | $(.08) | $(1.08) | $25.33 | 4.53% | $150 | .45% | 4.03% |
| 12/31/2024<sup>3, 9</sup> | 25.00 | .46 | .23 | .69 | (.37) | (.04) | (.41) | 25.28 | 2.79<sup>5</sup> | 50 | .45<sup>6</sup> | 3.52<sup>5</sup> |
| Municipal High-Income ETF | Municipal High-Income ETF | Municipal High-Income ETF |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | $25.24 | $1.12 | $(.04) | $1.08 | $(.92) | $— | $(.92) | $25.40 | 4.40% | $2483 | .34% | 4.46% |
| 12/31/2024<sup>3,9</sup> | 25.00 | .54 | .15 | .69 | (.45) |  | (.45) | 25.24 | 2.76<sup>5</sup> | 85 | .34<sup>6</sup> | 4.11<sup>5</sup> |
| Municipal Income ETF | Municipal Income ETF | Municipal Income ETF |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | $26.88 | $.96 | $.42 | $1.38 | $(.91) | $— | $(.91) | $27.35 | 5.23% | $4803 | .27% | 3.57% |
| 12/31/2024 | 27.00 | .99 | (.25) | .74 | (.86) |  | (.86) | 26.88 | 2.80 | 2666 | .27 | 3.66 |
| 12/31/2023 | 26.11 | .98 | .75 | 1.73 | (.84) |  | (.84) | 27.00 | 6.78 | 517 | .27 | 3.75 |
| 12/31/2022<sup>3, 10</sup> | 25.00 | .17 | 1.07 | 1.24 | (.13) |  | (.13) | 26.11 | 4.92<sup>5</sup> | 74 | .05<sup>5</sup> | .67<sup>5</sup> |
| **Short Duration Income ETF** | **Short Duration Income ETF** | **Short Duration Income ETF** |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | $25.61 | $1.46 | $.10 | $1.56 | $(1.17) | $— | $(1.17) | $26.00 | 6.20% | $1872 | .25% | 5.63% |
| 12/31/2024 | 25.41 | 1.69 | (.32) | 1.37 | (1.17) |  | (1.17) | 25.61 | 5.51 | 874 | .25 | 6.64 |
| 12/31/2023 | 25.27 | 1.37 | (.10) | 1.27 | (1.13) |  | (1.13) | 25.41 | 5.14 | 332 | .25 | 5.45 |
| 12/31/2022<sup>3, 10</sup> | 25.00 | .22 | .21 | .43 | (.16) |  | (.16) | 25.27 | 1.73<sup>5</sup> | 89 | .05<sup>5</sup> | .87<sup>5</sup> |
| Short Duration Municipal Income ETF | Short Duration Municipal Income ETF | Short Duration Municipal Income ETF |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | $25.93 | $.87 | $.32 | $1.19 | $(.80) | $— | $(.80) | $26.32 | 4.67% | $954 | .25% | 3.34% |
| 12/31/2024 | 25.78 | .91 | .05 | .96 | (.81) |  | (.81) | 25.93 | 3.77 | 554 | .25 | 3.51 |
| 12/31/2023<sup>3, 4</sup> | 25.00 | .24 | .76 | 1.00 | (.22) |  | (.22) | 25.78 | 4.00<sup>5</sup> | 46 | .25<sup>6</sup> | 3.62<sup>6</sup> |
| Ultra Short Income ETF | Ultra Short Income ETF | Ultra Short Income ETF |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | $25.12 | $1.16 | $.06 | $1.22 | $(1.04) | $(.01) | $(1.05) | $25.29 | 4.97% | $187 | .18% | 4.62% |
| 12/31/2024<sup>3,9</sup> | 25.00 | .65 | .13 | .78 | (.63) | (.03) | (.66) | 25.12 | 3.14<sup>5</sup> | 35 | .18<sup>6</sup> | 5.01<sup>5</sup> |
| U.S. Multi-Sector Income ETF | U.S. Multi-Sector Income ETF | U.S. Multi-Sector Income ETF |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | $27.21 | $2.04 | $.05 | $2.09 | $(1.66) | $— | $(1.66) | $27.64 | 7.88% | $3930 | .39% | 7.42% |
| 12/31/2024 | 26.91 | 2.07 | (.16) | 1.91 | (1.61) |  | (1.61) | 27.21 | 7.29 | 1951 | .39 | 7.63 |
| 12/31/2023 | 25.66 | 2.05 | .78 | 2.83 | (1.58) |  | (1.58) | 26.91 | 11.39 | 379 | .39 | 7.91 |
| 12/31/2022<sup>3, 10</sup> | 25.00 | .29 | .62 | .91 | (.25) |  | (.25) | 25.66 | 3.63<sup>5</sup> | 71 | .07<sup>5</sup> | 1.13<sup>5</sup> |

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Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 106

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| | | | |
|:---|:---|:---|:---|
|  | **Year ended**<br> **December 31, 2025** | **Year ended**<br> **December 31, 2024** | **Year ended**<br> **December 31, 2023** |
| **Portfolio turnover rate excluding mortgage dollar roll transactions<sup>11,12</sup>** | **Year ended**<br> **December 31, 2025** | **Year ended**<br> **December 31, 2024** | **Year ended**<br> **December 31, 2023** |
| Core Bond ETF | 57% | 125% | 13%<sup>4</sup> |
| Core Plus Income ETF | 104 | 83 | 76172%<sup>7</sup> |
| International Bond ETF (USD-Hedged) | 154 | 118<sup>59</sup> |  |
| Short Duration Income ETF | 32 | 42 | 561<sup>10</sup> |
| U.S. Multi-Sector Income ETF | 40 | 39 | 436<sup>10</sup> |

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| | | | |
|:---|:---|:---|:---|
|  | **Year ended**<br> **December 31, 2025** | **Year ended**<br> **December 31, 2024** | **Year ended**<br> **December 31, 2023** |
| **Portfolio turnover rate including mortgage dollar roll transactions, if any<sup>11,12</sup>** | **Year ended**<br> **December 31, 2025** | **Year ended**<br> **December 31, 2024** | **Year ended**<br> **December 31, 2023** |
| Core Bond ETF | 87% | 354% | 26%<sup>4</sup> |
| Core Plus Income ETF | 299 | 420 | 581446%<sup>7</sup> |
| High Yield Bond ETF | 36<sup>58</sup> |  |  |
| International Bond ETF (USD-Hedged) | 188 | 185<sup>59</sup> |  |
| Municipal High-Income ETF | 15 | 25<sup>59</sup> |  |
| Municipal Income ETF | 26 | 29 | 191<sup>10</sup> |
| Short Duration Income ETF | 128 | 192 | 20355<sup>10</sup> |
| Short Duration Municipal Income ETF | 55 | 54 | 37<sup>4</sup> |
| Ultra Short Income ETF | 90 | 26<sup>59</sup> |  |
| U.S. Multi-Sector Income ETF | 52 | 41 | 436<sup>10</sup> |

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<sup>1</sup>Based on average shares outstanding.

<sup>2</sup>Ratios do not include expenses of any Central Funds. Each fund indirectly bears its proportionate share of the expenses of any Central Funds.

<sup>3</sup>Based on operations for a period that is less than a full year.

<sup>4</sup>For the period September 26, 2023, commencement of operations, through December 31, 2023.

<sup>5</sup>Not annualized.

<sup>6</sup>Annualized.

<sup>7</sup>For the period February 22, 2022, commencement of operations, through December 31, 2022.

<sup>8</sup>For the period June 24, 2025, commencement of operations, through December 31, 2025.

<sup>9</sup>For the period June 25, 2024, commencement of operations, through December 31, 2024.

<sup>10</sup>For the period October 25, 2022, commencement of operations, through December 31, 2022.

<sup>11</sup>Rates do not include each fund's portfolio activity with respect to any Central Funds.

<sup>12</sup>Rates exclude in-kind transactions, if any.

107&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Fixed Income ETF Trust / Prospectus

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Notes

Capital Group Fixed Income ETF Trust / Prospectus&nbsp;&nbsp;&nbsp;&nbsp; 108

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| | |
|:---|:---|
| &nbsp;&nbsp;For fund information or to request free copies of the fund's statement of additional information, annual or semi-annual reports ("fund documents") | &nbsp;&nbsp;(800) 421-4225<br> 8 a.m. to 7 p.m. ET |
| &nbsp;&nbsp;For shareholder inquiries | &nbsp;&nbsp;Please contact your financial intermediary through whom you invest in the fund |
| &nbsp;&nbsp;For 24-hour fund information including fund documents | &nbsp;&nbsp;capitalgroup.com/etf |
| &nbsp;&nbsp;Telephone calls you have with Capital Group may be monitored or recorded for quality assurance, verification and recordkeeping purposes. By speaking to Capital Group on the telephone, you consent to such monitoring and recording. | &nbsp;&nbsp;Telephone calls you have with Capital Group may be monitored or recorded for quality assurance, verification and recordkeeping purposes. By speaking to Capital Group on the telephone, you consent to such monitoring and recording. |

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**Multiple translations** This prospectus may be translated into other languages. If there is any inconsistency or ambiguity as to the meaning of any word or phrase in a translation, the English text will prevail. Liability is not limited as a result of any material misstatement or omission introduced in the translation.

**Annual/Semi-annual report to shareholders and Form N-CSR** Additional information about the fund's investments is available in the fund's annual and semi-annual reports to shareholders and in the Form N-CSR on file with the U.S. Securities and Exchange Commission ("SEC"). In the fund's annual report, you will find a summary discussion of the key market conditions and investment strategies that significantly affected the fund's performance during its last fiscal year. In Form N-CSR, you will find the fund's annual and semi-annual financial statements.

**Statement of additional information (SAI) and codes of ethics** The current SAI, as amended from time to time, contains more detailed information about the trust and each fund, including each fund's financial statements, and is incorporated by reference into this prospectus. This means that the current SAI, for legal purposes, is part of this prospectus. The codes of ethics describe the personal investing policies adopted by the fund, its investment adviser and its affiliated companies.

The codes of ethics and current SAI are on file with the SEC. These and other related materials about the fund are available for review on the EDGAR database on the SEC's website at sec.gov or, after payment of a duplicating fee, via email request to publicinfo@sec.gov. The codes of ethics, current SAI, shareholder reports and other information such as the fund's financial statements are also available, free of charge, on our website, capitalgroup.com/etf.

**Householding** Householding is an option available to certain investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status. At any time, you may view current prospectuses and financial reports on our website.

**Securities Investor Protection Corporation (SIPC)** Shareholders may obtain information about SIPC<sup>®</sup> on its website at sipc.org or by calling (202) 371-8300.

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| | |
|:---|:---|
| ![](graphicsimage_012.jpg) | ETGEPRX-350-0326P <br>Litho in USA CGD/TM/10708<br>Investment Company File No. 811-23738 |

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**Capital Group Fixed Income ETF Trust**

Part B

Statement of Additional Information

March 1, 2026

This document is not a prospectus but should be read in conjunction with the current prospectus of Capital Group Fixed Income ETF Trust (the "trust"), dated March 1, 2026, for the funds listed below. Except where the context indicates otherwise, all references herein to "the fund" apply to each of the funds listed below.

You may obtain a prospectus from your financial professional, by calling (800) 421-4225 or by contacting Capital Client Group, Inc., the funds' distributor (the "distributor"), at the following address:

Capital Group Fixed Income ETF Trust

Attention: Secretary

6455 Irvine Center Drive

Irvine, California 92618-4518

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| | | |
|:---|:---|:---|
|  | Ticker | Exchange |
| Capital Group Core Bond ETF | CGCB | NYSE Arca, Inc. |
| Capital Group Core Plus Income ETF | CGCP | NYSE Arca, Inc. |
| Capital Group High Yield Bond ETF | CGHY | NYSE Arca, Inc. |
| Capital Group International Bond ETF (USD-Hedged) | CGIB | NYSE Arca, Inc. |
| Capital Group Municipal High-Income ETF | CGHM | NYSE Arca, Inc. |
| Capital Group Municipal Income ETF | CGMU | NYSE Arca, Inc. |
| Capital Group Short Duration Income ETF | CGSD | NYSE Arca, Inc. |
| Capital Group Short Duration Municipal Income ETF | CGSM | NYSE Arca, Inc. |
| Capital Group Ultra Short Income ETF | CGUI | NYSE Arca, Inc. |
| Capital Group U.S. Multi-Sector Income ETF | CGMS | NYSE Arca, Inc. |

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**Table of Contents**

<br> Item <u>Page no.</u>

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| | |
|:---|:---|
| The trust | 2.0 |
| Exchange listing and trading | 3.0 |
| Certain investment limitations and guidelines | 4.0 |
| Description of certain securities, investment techniques and risks | 12.0 |
| Fund policies | 47.0 |
| Continuous offering | 50.0 |
| Management of the trust | 52.0 |
| Execution of portfolio transactions | 81.0 |
| Portfolio trading by Authorized Participants | 86.0 |
| Disclosure of portfolio holdings | 87.0 |
| Creation and redemption of creation units | 88.0 |
| Determination of net asset value | 96.0 |
| Taxes and distributions | 98.0 |
| General information | 103.0 |
| Appendix | 104.0 |

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Investment portfolio

Financial statements

Capital Group Fixed Income ETF Trust — Page 1

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**The trust**

The trust, an open-end management investment company, was organized as a Delaware statutory trust on January 12, 2021. The trust consists of those funds listed on the cover page of this statement of additional information. The fund issues and sells shares at net asset value ("NAV") only in aggregations of a specified number of shares (each a "creation unit"), generally in exchange for a designated portfolio of securities, assets or other positions (the "deposit securities"), together with the deposit of a specified cash payment (the "cash component"). The fund's shares are listed and traded on NYSE Arca, Inc. (the "listing exchange"). The fund's shares trade on the listing exchange at market prices that may be below, at or above NAV. Shares are redeemable only in one or more creation units by Authorized Participants (as defined in the *Creation and redemption of creation units* section of this statement of additional information). In the event of a reorganization, merger, conversion or liquidation of the fund, the fund may redeem individual shares. The fund reserves the right to permit or require that creations and redemptions of shares be effected fully or partially in cash.

The fund's shares may be issued in advance of receipt of deposit securities, subject to various conditions, including a requirement that the Authorized Participant maintain with the fund certain collateral as set forth in the agreement with Authorized Participant. The fund may use such collateral to purchase missing deposit securities. See the *Creation and redemption of creation units* section of this statement of additional information.

Transaction fees and other costs associated with creations or redemptions that include a cash portion may be higher than the transaction fees and other costs associated with in-kind creations or redemptions. In all cases, conditions with respect to redemptions of shares and fees will be subject to the requirements of the U.S. Securities and Exchange Commission (the "SEC") rules and regulations applicable to management investment companies offering redeemable securities.

As in the case of other exchange-traded securities, when you buy or sell shares of the fund through a broker, you may incur a brokerage commission determined by that broker, as well as other charges.

Capital Group Fixed Income ETF Trust — Page 2

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**Exchange listing and trading**

A discussion of exchange listing and trading matters associated with an investment in the fund is contained in the *Shareholder information* section of the fund's prospectus. The discussion below supplements, and should be read together with, that section of the prospectus. The fund shares are listed for trading and trade throughout the day on the listing exchange and other secondary markets. The fund shares may also be listed on certain foreign (non-U.S.) exchanges. The fund shares may be less actively traded in certain foreign markets than in others, and investors are subject to the execution and settlement risks and market standards of the market where they or their broker direct their trades for execution. Certain information available to investors who trade fund shares on a U.S. stock exchange during regular U.S. market hours may not be available to investors who trade in non-U.S. markets, which may result in secondary market prices in such non-U.S. markets being less efficient.

There can be no assurance that the requirements of the listing exchange necessary to maintain the listing of shares of the fund will continue to be met. The listing exchange may, but is not required to, remove the shares of the fund from listing if, among other things: (i) the listing exchange becomes aware the fund is no longer eligible to operate in reliance on Rule 6c-11 under the Investment Company Act of 1940, as amended (the "1940 Act"); (ii) any of the other listing requirements are not continuously maintained; (iii) there are fewer than 50 beneficial holders of fund shares following the first 12 months of trading on the listing exchange; or (iv) any event shall occur or condition shall exist that, in the opinion of the listing exchange, makes further dealings on the listing exchange inadvisable. The listing exchange will also remove shares of the fund from listing and trading upon termination of the fund.

Capital Group Fixed Income ETF Trust — Page 3

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**Certain investment limitations and guidelines**

The following limitations and guidelines are considered at the time of purchase, under normal circumstances, and are based on a percentage of the specified fund's net assets unless otherwise noted. This summary is not intended to reflect all of the funds' investment limitations.

#### Capital Group Core Bond ETF
· The fund will invest at least 80% of its assets (plus the amount of borrowings for investment purposes, if any) in bonds and other debt instruments, including cash equivalents and securities with equity and debt characteristics (such as bonds with warrants attached, convertible bonds, hybrids and preferred securities. For purposes of this investment guideline, investments may be represented by derivative instruments, such as futures contracts and swap agreements, which will be valued on a mark-to-market basis in accordance with applicable regulatory requirements.

· The fund will invest in debt securities rated BBB- or better or Baa3 or better by Nationally Recognized Statistical Rating Organizations, or NRSROs, designated by the fund's investment adviser or unrated but determined to be of equivalent quality by the fund's investment adviser, and in U.S. government securities, money market instruments, cash or cash equivalents.

· The fund currently intends to consider the ratings from Moody's Investors Service, S&P Global Ratings and Fitch Ratings. If agency ratings of a security differ, the security will be considered to have received the highest of these ratings, consistent with the fund's investment policies.

· While the fund may not make direct purchases of common stocks or warrants or rights to acquire common stocks, the fund may invest in debt securities that are issued together with common stock or other equity interests or in securities that have equity conversion, exchange or purchase rights. The fund may hold up to 5% of its assets in common stock, warrants and rights acquired after sales of the corresponding debt securities or received in exchange for debt securities.

· For purposes of determining whether an investment is made in a particular country or geographic region, the fund's investment adviser will generally look to the domicile of the issuer in the case of equity securities or to the country to which the security is tied economically in the case of debt securities. In doing so, the fund's investment adviser will generally look to the determination of MSCI Inc. (MSCI) for equity securities and Bloomberg for debt securities. In certain limited circumstances (including when relevant data is unavailable or the nature of a holding warrants special considerations), the adviser may also take into account additional factors, as applicable, including where the issuer's securities are listed; where the issuer is legally organized, maintains principal corporate offices, conducts its principal operations, generates revenues and/or has credit risk exposure; and the source of guarantees, if any, of such securities.

**Capital Group Core Plus Income ETF**

Debt instruments

· The fund will invest at least 80% of its assets in bonds and other debt instruments, including Eurodollar and Yankee bonds, debentures, notes, securities with equity and fixed income characteristics (such as bonds with warrants attached, convertible bonds, certain hybrids and certain preferred securities), cash and cash equivalents, securities backed by mortgages and other assets, loans, and other fixed income obligations of banks, corporations and

Capital Group Fixed Income ETF Trust — Page 4

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governmental authorities. For purposes of this investment guideline, investments may be represented by derivative instruments, such as futures contracts and swaps, which will be valued on a mark-to-market basis in accordance with applicable regulatory requirements.

· The fund will invest no more than 35% of its assets in securities rated Ba1 or below and BB+ or below by Nationally Recognized Statistical Rating Organizations, or NRSROs, designated by the fund's investment adviser, or in securities that are unrated but determined to be of equivalent quality by the fund's investment adviser.

· The fund currently intends to consider the ratings from Moody's Investors Service, S&P Global Ratings and Fitch Ratings. If agency ratings of a security differ, the security will be considered to have received the highest of these ratings, consistent with the fund's investment policies.

Equity securities

· The fund may invest up to 10% of its assets in equity securities (including common stocks, preferred stocks, warrants or rights).

Investing outside the United States

· The fund may invest up to 35% of its assets in securities denominated in currencies other than the U.S. dollar.

· The fund may invest up to 35% of its assets in securities of emerging market issuers.

· For purposes of determining whether an investment is made in a particular country or geographic region, the fund's investment adviser will generally look to the domicile of the issuer in the case of equity securities or to the country to which the security is tied economically in the case of debt securities. In doing so, the fund's investment adviser will generally look to the determination of MSCI Inc. (MSCI) for equity securities and Bloomberg for debt securities. In certain limited circumstances (including when relevant data is unavailable or the nature of a holding warrants special considerations), the adviser may also take into account additional factors, as applicable, including where the issuer's securities are listed; where the issuer is legally organized, maintains principal corporate offices, conducts its principal operations, generates revenues and/or has credit risk exposure; and the source of guarantees, if any, of such securities.

#### Capital Group High Yield Bond ETF
Debt instruments

· The fund will invest at least 80% of its assets (plus the amount of borrowings for investment purposes, if any) in lower quality, lower rated bonds and other debt securities (rated Ba1 / BB+ or below (by Nationally Recognized Statistical Rating Organizations designated by the fund's investment adviser) or unrated but determined by the fund's investment adviser to be of equivalent quality), including corporate loans, and other similar securities.

· The fund currently intends to consider the ratings from Moody's Investors Service, S&P Global Ratings and Fitch Ratings. If agency ratings of a security differ, the security will be considered to have received the middle rating, consistent with the fund's investment policies. If only two agencies rate a security, the lower rating is used. If only one rates a security, that single rating is used.

Capital Group Fixed Income ETF Trust — Page 5

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Equity

· The fund may invest in equity securities (including common stock, preferred stock, warrants, rights, convertible securities and equity linked notes).

Investing outside the United States

· For purposes of determining whether an investment is made in a particular country or geographic region, the fund's investment adviser will generally look to the domicile of the issuer in the case of equity securities or to the country to which the security is tied economically in the case of debt securities. In doing so, the fund's investment adviser will generally look to the determination of MSCI Inc. (MSCI) for equity securities and Bloomberg for debt securities. In certain limited circumstances (including when relevant data is unavailable or the nature of a holding warrants special considerations), the adviser may also take into account additional factors, as applicable, including where the issuer's securities are listed; where the issuer is legally organized, maintains principal corporate offices, conducts its principal operations, generates revenues and/or has credit risk exposure; and the source of guarantees, if any, of such securities. For purposes of determining which countries constitute "emerging markets," the fund's investment adviser will generally look to the determination of MSCI for equity securities and J.P. Morgan for debt securities."

#### Capital Group International Bond ETF (USD-Hedged)
Debt instruments

· The fund will invest at least 80% of its assets (plus the amount of borrowings for investment purposes, if any) in bonds and other debt instruments, including cash equivalents and securities with equity and debt characteristics (such as bonds with warrants attached, convertible bonds, hybrids and preferred securities). For purposes of this investment guideline, investments may be represented by derivative instruments, which will be valued on a mark-to-market basis in accordance with applicable regulatory requirements.

· The fund may invest up to 15% of its assets in debt securities rated BB+ or below or Ba1 or below by Nationally Recognized Statistical Rating Organizations, or NRSROs, designated by the fund's investment adviser or unrated but determined to be of equivalent quality by the fund's investment adviser.

· The fund currently intends to consider the ratings from Moody's Investors Service, S&P Global Ratings and Fitch Ratings. If agency ratings of a security differ, the security will be considered to have received the highest of these ratings, consistent with the fund's investment policies.

Investing outside the United States

· The fund will invest at least 40% of its assets outside the United States, unless market conditions are not deemed favorable by the fund's investment adviser, in which case the fund would invest at least 30% of its assets outside the United States.

· The fund allocates its assets among various countries, and in no fewer than three countries other than the United States.

· The fund will maintain at least 90% of its assets in U.S. dollar currency exposure.

Capital Group Fixed Income ETF Trust — Page 6

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· For purposes of determining whether an investment is made in a particular country or geographic region, the fund's investment adviser will generally look to the domicile of the issuer in the case of equity securities or to the country to which the security is tied economically in the case of debt securities. In doing so, the fund's investment adviser will generally look to the determination of MSCI Inc. (MSCI) for equity securities and Bloomberg for debt securities. In certain limited circumstances (including when relevant data is unavailable or the nature of a holding warrants special considerations), the adviser may also take into account additional factors, as applicable, including where the issuer's securities are listed; where the issuer is legally organized, maintains principal corporate offices, conducts its principal operations, generates revenues and/or has credit risk exposure; and the source of guarantees, if any, of such securities.

**Capital Group Municipal High-Income ETF**

· The fund will invest at least 80% of its assets (plus the amount of borrowings for investment purposes, if any) in, or derive at least 80% of its income from, securities exempt from regular federal income tax.

· The fund may invest, without limitation, in "private activity bonds" whose interest is generally subject to the federal alternative minimum tax.

· The fund will invest at least 80% of its assets in bonds (for purposes of this limit, bonds include any debt instrument and cash equivalents, and may include certain preferred securities).

· The fund will invest at least 60% of its assets in debt securities rated BBB+ or below or Baa1 or below (by NRSROs designated by the fund's investment adviser) or unrated but determined by the fund's investment adviser to be of equivalent quality.

· The fund currently intends to look to the ratings from Moody's Investors Service, S&P Global Ratings and Fitch Ratings. If rating agencies differ, securities will be considered to have received the lowest of these ratings, consistent with the fund's investment policies.

#### Capital Group Municipal Income ETF
· The fund will invest at least 80% of its assets in, or derive at least 80% of its income from, securities exempt from regular federal income tax.

· The fund will invest up to 30% of its assets in securities that may subject fund shareholders to federal alternative minimum tax.

· The fund will invest at least 80% of its assets in bonds (for purposes of this limit, bonds include any debt instrument and cash equivalents, and may include certain preferred securities). For purposes of this investment guideline, investments may be represented by derivative instruments, such as futures contracts and swap agreements, which will be valued on a mark-to-market basis in accordance with applicable regulatory requirements.

· The fund will invest at least 65% of its assets in debt securities rated BBB- or better or Baa3 or better (by NRSROs designated by the fund's investment adviser) or unrated but determined by the fund's investment adviser to be of equivalent quality, including cash and money market instruments.

Capital Group Fixed Income ETF Trust — Page 7

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· The fund may invest up to 35% of its assets in debt securities rated BB+ or below and Ba1 or below (by NRSROs designated by the fund's investment adviser) or unrated but determined by the fund's investment adviser to be of equivalent quality.

· The fund currently intends to consider the ratings from Moody's Investors Service, S&P Global Ratings and Fitch Ratings. If agency ratings of a security differ, the security will be considered to have received the highest of these ratings, consistent with the fund's investment policies.

**Capital Group Short Duration Income ETF**

Debt instruments

· The fund will invest at least 80% of its assets in bonds and other debt instruments, including Eurodollar and Yankee bonds, debentures, notes, securities with equity and fixed income characteristics (such as bonds with warrants attached, convertible bonds, hybrids and certain preferred securities), cash and cash equivalents, securities backed by mortgages and other assets, loans, and other fixed income obligations of banks, corporations and governmental authorities. For purposes of this investment guideline, investments may be represented by derivative instruments, such as futures contracts and swap agreements, which will be valued on a mark-to-market basis in accordance with applicable regulatory requirements.

· The fund may invest up to 5% of its assets in debt securities rated BB+ or Ba1 or below by Nationally Recognized Statistical Rating Organizations ("NRSRO") designated by the fund's investment adviser or unrated securities determined to be of equivalent quality by the fund's investment adviser, but with a minimum rating of BB- or Ba3 or in unrated securities determined by the fund's investment adviser to be of equivalent quality.

· The fund currently intends to consider the ratings from Moody's Investors Service, S&P Global Ratings and Fitch Ratings. If agency ratings of a security differ, the security will be considered to have received the highest of these ratings, consistent with the fund's investment policies.

Duration

· The fund's average portfolio duration will be no greater than three years.

Investing outside the United States

· For purposes of determining whether an investment is made in a particular country or geographic region, the fund's investment adviser will generally look to the domicile of the issuer in the case of equity securities or to the country to which the security is tied economically in the case of debt securities. In doing so, the fund's investment adviser will generally look to the determination of MSCI Inc. (MSCI) for equity securities and Bloomberg for debt securities. In certain limited circumstances (including when relevant data is unavailable or the nature of a holding warrants special considerations), the adviser may also take into account additional factors, as applicable, including where the issuer's securities are listed; where the issuer is legally organized, maintains principal corporate offices, conducts its principal operations, generates revenues and/or has credit risk exposure; and the source of guarantees, if any, of such securities.

Capital Group Fixed Income ETF Trust — Page 8

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**Capital Group Short Duration Municipal Income ETF**

· The fund will invest at least 80% of its assets (plus the amount of borrowings for investment purposes, if any) in, or derive at least 80% of its income from, securities exempt from regular federal income tax.

· The fund will invest up to 20% of its assets in securities that may subject fund shareholders to federal alternative minimum tax.

· The fund will invest at least 80% of its assets in bonds (for purposes of this limit, bonds include any debt instrument and cash equivalents, and may include certain preferred securities). For purposes of this investment guideline, investments may be represented by derivative instruments, such as futures contracts and swap agreements, which will be valued on a mark-to-market basis in accordance with applicable regulatory requirements.

· The fund may invest up to 10% of its assets in debt securities rated BB+ or below and Ba1 or below (by NRSROs designated by the fund's investment adviser) or unrated but determined by the fund's investment adviser to be of equivalent quality. The fund currently intends to consider the ratings from Moody's Investors Service, S&P Global Ratings and Fitch Ratings. If agency ratings of a security differ, the security will be considered to have received the highest of these ratings, consistent with the fund's investment policies.

· The fund will maintain an average portfolio duration that is within 1 year of the average duration of The Bloomberg Municipal Short 1-5 Years Index. Duration is a measure used to determine the sensitivity of a security's price to changes in interest rate. The longer a security's duration, the more sensitive it will be to changes in interest rates.

**Capital Group Ultra Short Income ETF**

Debt instruments

· The fund will invest at least 80% of its assets in bonds and other debt instruments, including Eurodollar and Yankee bonds, debentures, notes, securities with equity and fixed income characteristics (such as bonds with warrants attached, convertible bonds, hybrids and certain preferred securities), cash and cash equivalents, securities backed by mortgages and other assets, loans, and other fixed income obligations of banks, corporations and governmental authorities . For purposes of this investment guideline, investments may be represented by derivative instruments, such as futures contracts and swap agreements, which will be valued on a mark-to-market basis in accordance with applicable regulatory requirements.

· The fund may invest up to 5% of its assets in debt securities rated BB+ or Ba1 or below by Nationally Recognized Statistical Rating Organizations ("NRSRO") designated by the fund's investment adviser or unrated securities determined to be of equivalent quality by the fund's investment adviser, but with a minimum rating of BB- or Ba3 or in unrated securities determined by the fund's investment adviser to be of equivalent quality. The fund currently intends to look to the ratings from Moody's Investors Service, S&P Global Ratings and Fitch Ratings. If rating agencies differ, securities will be considered to have received the highest of these ratings, consistent with the fund's investment policies.

Duration

Capital Group Fixed Income ETF Trust — Page 9

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· The fund's average portfolio duration will typically be no greater than one year, although under certain market conditions, such as in periods of significant volatility in interest rates and spreads, the fund's duration may be longer than one year.

Maturity

· The fund seeks to maintain a dollar-weighted average effective maturity of two years or less.

Investing outside the United States

· For purposes of determining whether an investment is made in a particular country or geographic region, the fund's investment adviser will generally look to the domicile of the issuer in the case of equity securities or to the country to which the security is tied economically in the case of debt securities. In doing so, the fund's investment adviser will generally look to the determination of MSCI Inc. (MSCI) for equity securities and Bloomberg for debt securities. In certain limited circumstances (including when relevant data is unavailable or the nature of a holding warrants special considerations), the adviser may also take into account additional factors, as applicable, including where the issuer's securities are listed; where the issuer is legally organized, maintains principal corporate offices, conducts its principal operations, generates revenues and/or has credit risk exposure; and the source of guarantees, if any, of such securities.

**Capital Group U.S. Multi-Sector Income ETF**

Debt instruments

· The fund will invest at least 80% of its assets in bonds and other debt instruments, including Eurodollar and Yankee bonds, debentures, notes, securities with equity and fixed income characteristics (such as bonds with warrants attached, convertible bonds, hybrids and certain preferred securities), cash and cash equivalents, securities backed by mortgages and other assets, loans, and other fixed income obligations of banks, corporations and governmental authorities. For purposes of this investment guideline, investments may be represented by derivative instruments, such as futures contracts and swap agreements, which will be valued on a mark-to-market basis in accordance with applicable regulatory requirements.

· The fund currently intends to consider the ratings from Moody's Investor Services, S&P Global Ratings and Fitch ratings. If agency ratings of a security differ, the security will be considered to have received the highest of these ratings, consistent with the fund's investment policies.

Investing in and outside the United States

· The fund will invest at least 80% of its assets in the United States.

· The fund may invest up to 20% of its assets outside the United States.

· For purposes of determining whether an investment is made in a particular country or geographic region, the fund's investment adviser will generally look to the domicile of the issuer in the case of equity securities or to the country to which the security is tied economically in the case of debt securities. In doing so, the fund's investment adviser will generally look to the determination of MSCI Inc. (MSCI) for equity securities and Bloomberg for debt securities. In certain limited circumstances (including when relevant data is unavailable or the nature of a holding warrants special considerations), the adviser may also take into account additional

Capital Group Fixed Income ETF Trust — Page 10

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factors, as applicable, including where the issuer's securities are listed; where the issuer is legally organized, maintains principal corporate offices, conducts its principal operations, generates revenues and/or has credit risk exposure; and the source of guarantees, if any, of such securities.

#### \* \* \* \* \* \*
Each of the funds may experience difficulty liquidating certain portfolio securities during significant market declines or periods of heavy redemptions.

Capital Group Fixed Income ETF Trust — Page 11

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**Description of certain securities, investment techniques and risks**

The descriptions below are intended to supplement the material in the prospectus under "Investment objectives, strategies and risks."

**Market conditions –** The value of, and the income generated by, the securities in which a fund invests may decline, sometimes rapidly or unpredictably, due to factors affecting certain issuers, particular industries or sectors, or the overall markets. Rapid or unexpected changes in market conditions could cause the fund to liquidate holdings at inopportune times or at a loss or depressed value. The value of a particular holding may decrease due to developments related to that issuer, but also due to general market conditions, including real or perceived economic developments such as changes in interest rates, credit quality, inflation, or currency rates or generally adverse investor sentiment. The value of a holding may also decline due to factors that negatively affect a particular industry or sector, such as labor shortages, increased production costs, or competitive conditions.

Global economies and financial markets are highly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. Furthermore, local, regional and global events such as war, acts of terrorism, trading and tariff arrangements, social unrest, natural disasters, the spread of infectious illness or other public health threats, or bank failures could also adversely impact issuers, markets and economies, including in ways that cannot necessarily be foreseen. The fund could be negatively impacted if the value of a portfolio holding were harmed by such conditions or events.

Significant market disruptions, such as those caused by pandemics, natural or environmental disasters, war, acts of terrorism, bank failures or other events, can adversely affect local and global markets and normal market operations. Market disruptions may exacerbate political, social, and economic risks. Additionally, market disruptions may result in increased market volatility; regulatory trading halts; closure of domestic or foreign exchanges, markets, or governments; or market participants operating pursuant to business continuity plans for indeterminate periods of time. Such events can be highly disruptive to economies and markets and significantly impact individual companies, sectors, industries, markets, currencies, interest and inflation rates, credit ratings, investor sentiment, and other factors affecting the value of the fund's investments and operation of the fund. These events could disrupt businesses that are integral to the fund's operations or impair the ability of employees of fund service providers to perform essential tasks on behalf of the fund.

Governmental and quasi-governmental authorities may take a number of actions designed to support local and global economies and the financial markets in response to economic disruptions. Such actions may include a variety of significant fiscal and monetary policy changes, including, for example, direct capital infusions into companies, new monetary programs and significantly lower interest rates. These actions have resulted in significant expansion of public debt and may result in greater market risk. Additionally, an unexpected or quick reversal of these policies, or the ineffectiveness of these policies, could negatively impact overall investor sentiment and further increase volatility in securities markets.

**Debt instruments —** Debt securities, also known as "fixed income securities," are used by issuers to borrow money. Bonds, notes, debentures, asset-backed securities (including those backed by mortgages), and loan participations and assignments are common types of debt securities. Generally, issuers pay investors periodic interest and repay the amount borrowed either periodically during the life of the security and/or at maturity. Some debt securities, such as zero coupon bonds, do not pay current interest, but are purchased at a discount from their face values and their values accrete over time to face value at maturity. Some debt securities bear interest at rates that are not fixed, but that vary with changes in specified market rates or indices. The market prices of debt securities fluctuate depending on such factors as interest rates, credit quality and maturity. In general, market prices of

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debt securities decline when interest rates rise and increase when interest rates fall. These fluctuations will generally be greater for longer-term debt securities than for shorter-term debt securities. Prices of these securities can also be affected by financial contracts held by the issuer or third parties (such as derivatives) relating to the security or other assets or indices. Borrowers that are in bankruptcy or restructuring may never pay off their indebtedness, or they may pay only a small fraction of the amount owed. Direct indebtedness of countries, particularly emerging markets, also involves a risk that the governmental entities responsible for the repayment of the debt may be unable, or unwilling, to pay interest and repay principal when due.

Lower rated debt securities, rated Ba1/BB+ or below by Nationally Recognized Statistical Rating Organizations, are described by the rating agencies as speculative and involve greater risk of default or price changes due to changes in the issuer's creditworthiness than higher rated debt securities, or they may already be in default. Such securities are sometimes referred to as "junk bonds" or high yield bonds. The market prices of these securities may fluctuate more than higher quality securities and may decline significantly in periods of general economic difficulty. It may be more difficult to dispose of, and to determine the value of, lower rated debt securities. Investment grade bonds in the ratings categories A or Baa/BBB also may be more susceptible to changes in market or economic conditions than bonds rated in the highest rating categories.

Certain additional risk factors relating to debt securities are discussed below:

**Sensitivity to interest rate and economic changes —** Debt securities may be sensitive to economic changes, political and corporate developments, and interest rate changes. In addition, during an economic downturn or a period of rising interest rates, issuers that are highly leveraged may experience increased financial stress that could adversely affect their ability to meet projected business goals, to obtain additional financing and to service their principal and interest payment obligations. Periods of economic change and uncertainty also can be expected to result in increased volatility of market prices and yields of certain debt securities and derivative instruments. As discussed under "Market conditions" above in this statement of additional information, governments and quasi-governmental authorities may take actions to support local and global economies and financial markets during periods of economic crisis, including direct capital infusions into companies, new monetary programs and significantly lower interest rates. Such actions may expose fixed income markets to heightened volatility and may reduce liquidity for certain investments, which could cause the value of a fund's portfolio to decline.

**Payment expectations —** Debt securities may contain redemption or call provisions. If an issuer exercises these provisions in a lower interest rate market, the fund may have to replace the security with a lower yielding security, resulting in decreased income to investors. If the issuer of a debt security defaults on its obligations to pay interest or principal or is the subject of bankruptcy proceedings, the fund may incur losses or expenses in seeking recovery of amounts owed to it.

**Liquidity and valuation —** There may be little trading in the secondary market for particular debt securities, which may affect adversely the fund's ability to value accurately or dispose of such debt securities. Adverse publicity and investor perceptions, whether or not based on fundamental analysis, may decrease the value and/or liquidity of debt securities.

Credit ratings for debt securities provided by rating agencies reflect an evaluation of the safety of principal and interest payments, not market value risk. The rating of an issuer is a rating agency's view of past and future potential developments related to the issuer and may not necessarily reflect actual outcomes. There can be a lag between the time of developments relating to an issuer and the time a

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rating is assigned and updated. The investment adviser considers these ratings of securities as one of many criteria in making its investment decisions.

Bond rating agencies may assign modifiers (such as +/–) to ratings categories to signify the relative position of a credit within the rating category. Investment policies that are based on ratings categories should be read to include any security within that category, without giving consideration to the modifier except where otherwise provided. See the appendix to this statement of additional information for more information about credit ratings.

**Inflation-linked bonds —** A fund may invest in inflation-linked bonds issued by governments, their agencies or instrumentalities and corporations.

The principal amount of an inflation-linked bond is adjusted in response to changes in the level of an inflation index, such as the Consumer Price Index for Urban Consumers ("CPURNSA"). If the index measuring inflation falls, the principal value or coupon of these securities will be adjusted downward. Consequently, the interest payable on these securities will be reduced. Also, if the principal value of these securities is adjusted according to the rate of inflation, the adjusted principal value repaid at maturity may be less than the original principal. In the case of U.S. Treasury Inflation-Protected Securities ("TIPS"), currently the only inflation-linked security that is issued by the U.S. Treasury, the principal amounts are adjusted daily based upon changes in the rate of inflation (as currently represented by the non-seasonally adjusted CPURNSA, calculated with a three-month lag). TIPS may pay interest semi-annually, equal to a fixed percentage of the inflation-adjusted principal amount. The interest rate on these bonds is fixed at issuance, but over the life of the bond this interest may be paid on an increasing or decreasing principal amount that has been adjusted for inflation. The current market value of TIPS is not guaranteed and will fluctuate. However, the U.S. government guarantees that, at maturity, principal will be repaid at the higher of the original face value of the security (in the event of deflation) or the inflation adjusted value.

Other non-U.S. sovereign governments also issue inflation-linked securities that are tied to their own local consumer price indexes and that offer similar deflationary protection. In certain of these non-U.S. jurisdictions, the repayment of the original bond principal upon the maturity of an inflation-linked bond is not guaranteed, allowing for the amount of the bond repaid at maturity to be less than par. Corporations also periodically issue inflation-linked securities tied to CPURNSA or similar inflationary indexes. While TIPS and non-U.S. sovereign inflation-linked securities are currently the largest part of the inflation-linked market, the fund may invest in corporate inflation-linked securities.

The value of inflation-linked securities is expected to change in response to the changes in real interest rates. Real interest rates, in turn, are tied to the relationship between nominal interest rates and the rate of inflation. If inflation were to rise at a faster rate than nominal interest rates, real interest rates would decline, leading to an increase in value of the inflation-linked securities. In contrast, if nominal interest rates were to increase at a faster rate than inflation, real interest rates might rise, leading to a decrease in value of inflation-linked securities. There can be no assurance, however, that the value of inflation-linked securities will be directly correlated to the changes in interest rates. If interest rates rise due to reasons other than inflation, investors in these securities may not be protected to the extent that the increase is not reflected in the security's inflation measure.

The interest rate for inflation-linked bonds is fixed at issuance as a percentage of this adjustable principal. Accordingly, the actual interest income may both rise and fall as the principal amount of the bonds adjusts in response to movements of the consumer price index. For example, typically interest income would rise during a period of inflation and fall during a period of deflation.

The market for inflation-linked securities may be less developed or liquid, and more volatile, than certain other securities markets. There is a limited number of inflation-linked securities currently

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available for the fund to purchase, making the market less liquid and more volatile than the U.S. Treasury and agency markets.

**Securities with equity and debt characteristics —** Certain securities have a combination of equity and debt characteristics. Such securities may at times behave more like equity than debt or vice versa.

**Preferred stock** — Preferred stock represents an equity interest in an issuer that generally entitles the holder to receive, in preference to common stockholders and the holders of certain other stocks, dividends and a fixed share of the proceeds resulting from a liquidation of the issuer. Preferred stocks may pay fixed or adjustable rates of return, and preferred stock dividends may be cumulative or non-cumulative and participating or non-participating. Cumulative dividend provisions require all or a portion of prior unpaid dividends to be paid before dividends can be paid to the issuer's common stockholders, while prior unpaid dividends on non-cumulative preferred stock are forfeited. Participating preferred stock may be entitled to a dividend exceeding the issuer's declared dividend in certain cases, while non-participating preferred stock is entitled only to the stipulated dividend. Preferred stock is subject to issuer-specific and market risks applicable generally to equity securities. As with debt securities, the prices and yields of preferred stocks often move with changes in interest rates and the issuer's credit quality. Additionally, a company's preferred stock typically pays dividends only after the company makes required payments to holders of its bonds and other debt. Accordingly, the price of preferred stock will usually react more strongly than bonds and other debt to actual or perceived changes in the issuing company's financial condition or prospects. Preferred stock of smaller companies may be more vulnerable to adverse developments than preferred stock of larger companies.

**Convertible securities** — A convertible security is a debt obligation, preferred stock or other security that may be converted, within a specified period of time and at a stated conversion rate, into common stock or other equity securities of the same or a different issuer. The conversion may occur automatically upon the occurrence of a predetermined event or at the option of either the issuer or the security holder. Under certain circumstances, a convertible security may also be called for redemption or conversion by the issuer after a particular date and at predetermined price specified upon issue. If a convertible security held by a fund is called for redemption or conversion, the fund could be required to tender the security for redemption, convert it into the underlying common stock, or sell it to a third party.

The holder of a convertible security is generally entitled to participate in the capital appreciation resulting from a market price increase in the issuer's common stock and to receive interest paid or accrued until the convertible security matures or is redeemed, converted or exchanged. Before conversion, convertible securities have characteristics similar to non-convertible debt or preferred securities, as applicable. Convertible securities rank senior to common stock in an issuer's capital structure and, therefore, normally entail less risk than the issuer's common stock. However, convertible securities may also be subordinate to any senior debt obligations of the issuer, and, therefore, an issuer's convertible securities may entail more risk than such senior debt obligations. Convertible securities usually offer lower interest or dividend yields than non-convertible debt securities of similar credit quality because of the potential for capital appreciation. In addition, convertible securities are often lower-rated securities.

Because of the conversion feature, the price of a convertible security will normally fluctuate in some proportion to changes in the price of the underlying asset, and, accordingly, convertible securities are subject to risks relating to the activities of the issuer and/or general market and economic conditions. The income component of a convertible security may cushion the security against declines in the price of the underlying asset but may also cause the price of the security to fluctuate based upon changes in interest rates and the credit quality of the issuer.

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As with a straight fixed income security, the price of a convertible security tends to increase when interest rates decline and decrease when interest rates rise. Like the price of a common stock, the price of a convertible security also tends to increase as the price of the underlying stock rises and to decrease as the price of the underlying stock declines.

**Hybrid securities** — A hybrid security is a type of security that also has equity and debt characteristics. Like equities, which have no final maturity, a hybrid security may be perpetual. On the other hand, like debt securities, a hybrid security may be callable at the option of the issuer on a date specified at issue. Additionally, like common equities, which may stop paying dividends at virtually any time without violating any contractual terms or conditions, hybrids typically allow for issuers to withhold payment of interest until a later date or to suspend coupon payments entirely without triggering an event of default. Hybrid securities are normally at the bottom of an issuer's debt capital structure because holders of an issuer's hybrid securities are structurally subordinated to the issuer's senior creditors. In bankruptcy, hybrid security holders should only get paid after all senior creditors of the issuer have been paid but before any disbursements are made to the issuer's equity holders. Accordingly, hybrid securities may be more sensitive to economic changes than more senior debt securities. Such securities may also be viewed as more equity-like by the market when the issuer or its parent company experiences financial difficulties.

Contingent convertible securities, which are also known as contingent capital securities, are a form of hybrid security that are intended to either convert into equity or have their principal written down upon the occurrence of certain trigger events. One type of contingent convertible security has characteristics designed to absorb losses, by providing that the liquidation value of the security may be adjusted downward to below the original par value or written off entirely under certain circumstances. For instance, if losses have eroded the issuer's capital level below a specified threshold, the liquidation value of the security may be reduced in whole or in part. The write-down of the security's par value may occur automatically and would not entitle holders to institute bankruptcy proceedings against the issuer. In addition, an automatic write-down could result in a reduced income rate if the dividend or interest payment associated with the security is based on the security's par value. Such securities may, but are not required to, provide for circumstances under which the liquidation value of the security may be adjusted back up to par, such as an improvement in capitalization or earnings. Another type of contingent convertible security provides for mandatory conversion of the security into common shares of the issuer under certain circumstances. The mandatory conversion might relate, for example, to the issuer's failure to maintain a capital minimum. Since the common stock of the issuer may not pay a dividend, investors in such instruments could experience reduced yields (or no yields at all) and conversion would deepen the subordination of the investor, effectively worsening the investor's standing in the case of the issuer's insolvency. An automatic write-down or conversion event with respect to a contingent convertible security will typically be triggered by a reduction in the issuer's capital level, but may also be triggered by regulatory actions, such as a change in regulatory capital requirements, or by other factors.

**Obligations backed by the "full faith and credit" of the U.S. government —** U.S. government obligations include the following types of securities:

**U.S. Treasury securities —** U.S. Treasury securities include direct obligations of the U.S. Treasury, such as Treasury bills, notes and bonds. For these securities, the payment of principal and interest is unconditionally guaranteed by the U.S. government, and thus they are of high credit quality.

**Federal agency securities —** The securities of certain U.S. government agencies and government-sponsored entities are guaranteed as to the timely payment of principal and interest by the full faith and credit of the U.S. government. Such agencies and entities include,

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but are not limited to, the Federal Financing Bank ("FFB"), the Government National Mortgage Association ("Ginnie Mae"), the U.S. Department of Veterans Affairs ("VA"), the Federal Housing Administration ("FHA"), the Export-Import Bank of the United States ("Exim Bank"), the U.S. International Development Finance Corporation ("DFC"), the Commodity Credit Corporation ("CCC") and the U.S. Small Business Administration ("SBA").

Such securities are subject to variations in market value due to fluctuations in interest rates and in government policies, among other things, but, if held to maturity, are expected to be paid in full (either at maturity or thereafter). However, from time to time, a high national debt level, and uncertainty regarding negotiations to increase the U.S. government's debt ceiling and periodic legislation to fund the government, could increase the risk that the U.S. government may default on its obligations and/or lead to a downgrade of the credit rating of the U.S. government. Such an event could adversely affect the value of investments in securities backed by the full faith and credit of the U.S. government, cause the fund to suffer losses and lead to significant disruptions in U.S. and global markets. Regulatory or market changes or conditions could increase demand for U.S. government securities and affect the availability of such instruments for investment and the fund's ability to pursue its investment strategies.

**Other federal agency obligations —** Additional federal agency securities are neither direct obligations of, nor guaranteed by, the U.S. government. These obligations include securities issued by certain U.S. government agencies and government-sponsored entities. However, they generally involve some form of federal sponsorship: some operate under a congressional charter; some are backed by collateral consisting of "full faith and credit" obligations as described above; some are supported by the issuer's right to borrow from the Treasury; and others are supported only by the credit of the issuing government agency or entity. These agencies and entities include, but are not limited to: the Federal Home Loan Banks, the Federal Home Loan Mortgage Corporation ("Freddie Mac"), the Federal National Mortgage Association ("Fannie Mae"), the Tennessee Valley Authority and the Federal Farm Credit Bank System.

In 2008, Freddie Mac and Fannie Mae were placed into conservatorship by their new regulator, the Federal Housing Finance Agency ("FHFA"). Simultaneously, the U.S. Treasury made a commitment of indefinite duration to maintain the positive net worth of both firms. As conservator, the FHFA has the authority to repudiate any contract either firm has entered into prior to the FHFA's appointment as conservator (or receiver should either firm go into default) if the FHFA, in its sole discretion determines that performance of the contract is burdensome and repudiation would promote the orderly administration of Fannie Mae's or Freddie Mac's affairs. While the FHFA has indicated that it does not intend to repudiate the guaranty obligations of either entity, doing so could adversely affect holders of their mortgage-backed securities. For example, if a contract were repudiated, the liability for any direct compensatory damages would accrue to the entity's conservatorship estate and could only be satisfied to the extent the estate had available assets. As a result, if interest payments on Fannie Mae or Freddie Mac mortgage-backed securities held by a fund were reduced because underlying borrowers failed to make payments or such payments were not advanced by a loan servicer, the fund's only recourse might be against the conservatorship estate, which might not have sufficient assets to offset any shortfalls.

The FHFA, in its capacity as conservator, has the power to transfer or sell any asset or liability of Fannie Mae or Freddie Mac. The FHFA has indicated it has no current intention to do this; however, should it do so a holder of a Fannie Mae or Freddie Mac mortgage-backed security would have to rely on another party for satisfaction of the guaranty obligations and would be exposed to the credit risk of that party.

Certain rights provided to holders of mortgage-backed securities issued by Fannie Mae or Freddie Mac under their operative documents may not be enforceable against the FHFA, or enforcement may be delayed during the course of the conservatorship or any future receivership. For example, the operative documents may provide that upon the occurrence of an event of default by Fannie Mae or

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Freddie Mac, holders of a requisite percentage of the mortgage-backed security may replace the entity as trustee. However, under the Federal Housing Finance Regulatory Reform Act of 2008, holders may not enforce this right if the event of default arises solely because a conservator or receiver has been appointed.

**Securities issued by sovereign, quasi-sovereign and supranational entities —** Investments in debt securities issued by sovereign, quasi-sovereign and supranational entities are subject to certain additional risks aside from those associated with investments in debt instruments generally or securities issued by the U.S. government or federal agency securities.

A governmental or quasi-governmental entity may be unwilling or unable to pay interest and repay principal on its sovereign or quasi-sovereign debt, or otherwise meet its obligations when due, including for reasons such as the government's policy towards principal international lenders such as the International Monetary Fund or the World Bank, the political considerations to which the government may be subject, dependencies on expected payments from other foreign governments or multinational agencies, the extent of its non-U.S. reserves, the availability of sufficient non-U.S. exchange on the date a payment is due, and/or the relative size of the debt service burden compared to the country's economy as a whole. If such issuers default (or threaten to default), the indebtedness may be restructured and/or a moratorium on the payments of such indebtedness may be declared, in each case, without the approval of some or all debt holders. Additionally, unlike corporate debt restructurings generally, the fees and expenses of the financial and legal advisers to the creditors in connection with a restructuring may be borne by the holders of the sovereign or quasi-sovereign debt securities instead of the sovereign or quasi-sovereign entity itself. In the event of a default on sovereign or quasi-sovereign debt, the fund may also have limited legal recourse against the defaulting government entity. Sovereign and quasi-sovereign entities may assert sovereign immunity in legal proceedings relating to the failure to pay obligations when due. There may be international treaties with such entities that limit the fund's legal recourse against such entities. Additionally, remedies may need to be pursued in the courts located in the country of the defaulting sovereign or quasi-sovereign entity itself, which may limit the fund's ability to obtain recourse.

A "supranational entity" is an entity established or financially supported by the governments of several countries to promote reconstruction, economic development or trade. The World Bank, the European Investment Bank, the Inter-American Development Bank, the Asian Development Bank, the African Development Bank and the European Coal and Steel Community are some examples of supranational entities. Generally, the governmental members of these entities make initial capital contributions to and may also commit to making additional contributions if the supranational entity is unable to repay its borrowings. There is no guarantee that one or more governmental members of a supranational entity will continue to make any necessary additional capital contributions, and if such contributions are not made, the entity may be unable to pay interest or repay principal on its debt securities. Additionally, the securities of a supranational entity may be denominated in a foreign currency, in which case, the obligations of the entity bear the risks of foreign currency investments.

**Pass-through securities —** A fund may invest in various debt obligations backed by pools of mortgages, corporate loans or other assets including, but not limited to, residential mortgage loans, home equity loans, mortgages on commercial buildings, consumer loans and equipment leases. Principal and interest payments made on the underlying asset pools backing these obligations are typically passed through to investors, net of any fees paid to any insurer or any guarantor of the securities. Pass-through securities may have either fixed or adjustable coupons. The risks of an investment in these obligations depend in part on the type of the collateral securing the obligations and the class of the instrument in which the fund invests. These securities include:

**Mortgage-backed securities —** These securities may be issued by U.S. government agencies and government-sponsored entities, such as Ginnie Mae, Fannie Mae and Freddie Mac, and by private entities. The payment of interest and principal on mortgage-backed obligations issued

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by U.S. government agencies may be guaranteed by the full faith and credit of the U.S. government (in the case of Ginnie Mae), or may be guaranteed by the issuer (in the case of Fannie Mae and Freddie Mac). However, these guarantees do not apply to the market prices and yields of these securities, which vary with changes in interest rates.

Mortgage-backed securities issued by private entities are structured similarly to those issued by U.S. government agencies. However, these securities and the underlying mortgages are not guaranteed by any government agencies and the underlying mortgages are not subject to the same underwriting requirements. These securities generally are structured with one or more types of credit enhancements such as insurance or letters of credit issued by private companies. Borrowers on the underlying mortgages are usually permitted to prepay their underlying mortgages. Prepayments can alter the effective maturity of these instruments. In addition, delinquencies, losses or defaults by borrowers can adversely affect the prices and volatility of these securities. Such delinquencies and losses can be exacerbated by declining or flattening housing and property values. This, along with other outside pressures, such as bankruptcies and financial difficulties experienced by mortgage loan originators, decreased investor demand for mortgage loans and mortgage-related securities and increased investor demand for yield, can adversely affect the value and liquidity of mortgage-backed securities.

**Collateralized mortgage obligations (CMOs) —** CMOs are also backed by a pool of mortgages or mortgage loans, which are divided into two or more separate bond issues. CMOs issued by U.S. government agencies are backed by agency mortgages, while privately issued CMOs may be backed by either government agency mortgages or private mortgages. Payments of principal and interest are passed through to each bond issue at varying schedules resulting in bonds with different coupons, effective maturities and sensitivities to interest rates. Some CMOs may be structured in a way that when interest rates change, the impact of changing prepayment rates on the effective maturities of certain issues of these securities is magnified. CMOs may be less liquid or may exhibit greater price volatility than other types of mortgage or asset-backed securities.

**Commercial mortgage-backed securities —** These securities are backed by mortgages on commercial property, such as hotels, office buildings, retail stores, hospitals and other commercial buildings. These securities may have a lower prepayment uncertainty than other mortgage-related securities because commercial mortgage loans generally prohibit or impose penalties on prepayments of principal. In addition, commercial mortgage-related securities often are structured with some form of credit enhancement to protect against potential losses on the underlying mortgage loans. Many of the risks of investing in commercial mortgage-backed securities reflect the risks of investing in the real estate securing the underlying mortgage loans, including the effects of local and other economic conditions on real estate markets, the ability of tenants to make rental payments and the ability of a property to attract and retain tenants. Commercial mortgage-backed securities may be less liquid or exhibit greater price volatility than other types of mortgage or asset-backed securities and may be more difficult to value.

**Asset-backed securities —** These securities are backed by other assets such as credit card, automobile or consumer loan receivables, retail installment loans or participations in pools of leases. Credit support for these securities may be based on the underlying assets and/or provided through credit enhancements by a third party. The values of these securities are sensitive to changes in the credit quality of the underlying collateral, the credit strength of the credit enhancement, changes in interest rates and at times the financial condition of the issuer. Obligors of the underlying assets also may make prepayments that can change effective maturities of the asset-backed securities. These securities may be less liquid and more difficult to value than other securities.

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**Collateralized bond obligations (CBOs) and collateralized loan obligations (CLOs)** — A CBO is a trust typically backed by a diversified pool of fixed-income securities, which may include high risk, lower rated securities. A CLO is a trust typically collateralized by a pool of loans, which may include, among others, senior secured loans, senior unsecured loans, and subordinate corporate loans, including lower rated loans. CBOs and CLOs may charge management fees and administrative expenses.

For both CBOs and CLOs, the cash flows from the trust are split into two or more portions, called tranches, varying in risk and yield. The riskiest and highest yielding portion is the "equity" tranche which bears the bulk of any default by the bonds or loans in the trust and is constructed to protect the other, more senior tranches from default. Since they are partially protected from defaults, the more senior tranches typically have higher ratings and lower yields than the underlying securities in the trust and can be rated investment grade. Despite the protection from the equity tranche, the more senior tranches can still experience substantial losses due to actual defaults of the underlying assets, increased sensitivity to defaults due to impairment of the collateral or the more junior tranches, market anticipation of defaults, as well as potential general aversions to CBO or CLO securities as a class. Normally, these securities are privately offered and sold, and thus, are not registered under the securities laws. CBOs and CLOs may be less liquid, may exhibit greater price volatility and may be more difficult to value than other securities.

"IOs" and "POs" are issued in portions or tranches with varying maturities and characteristics. Some tranches may only receive the interest paid on the underlying mortgages (IOs) and others may only receive the principal payments (POs). The values of IOs and POs are extremely sensitive to interest rate fluctuations and prepayment rates, and IOs are also subject to the risk of early repayment of the underlying mortgages that will substantially reduce or eliminate interest payments.

**Municipal bonds —** Municipal bonds are debt obligations that are exempt from federal, state and/or local income taxes. Opinions relating to the validity of municipal bonds, exclusion of municipal bond interest from an investor's gross income for federal income tax purposes and, where applicable, state and local income tax, are rendered by bond counsel to the issuing authorities at the time of issuance.

The two principal classifications of municipal bonds are general obligation bonds and limited obligation or revenue bonds. General obligation bonds are secured by the issuer's pledge of its full faith and credit including, if available, its taxing power for the payment of principal and interest. Issuers of general obligation bonds include states, counties, cities, towns and various regional or special districts. The proceeds of these obligations are used to fund a wide range of public facilities, such as the construction or improvement of schools, highways and roads, water and sewer systems and facilities for a variety of other public purposes. Lease revenue bonds or certificates of participation in leases are payable from annual lease rental payments from a state or locality. Annual rental payments are payable to the extent such rental payments are appropriated annually.

Typically, the only security for a limited obligation or revenue bond is the net revenue derived from a particular facility or class of facilities financed thereby or, in some cases, from the proceeds of a special tax or other special revenues. Revenue bonds have been issued to fund a wide variety of revenue-producing public capital projects including: electric, gas, water and sewer systems; highways, bridges and tunnels; port and airport facilities; colleges and universities; hospitals; and convention, recreational, tribal gaming and housing facilities. Although the security behind these bonds varies widely, many provide additional security in the form of a debt service reserve fund which may also be used to make principal and interest payments on the issuer's obligations. In addition, some revenue obligations (as well as general obligations) are insured by a bond insurance company or backed by a letter of credit issued by a banking institution.

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Revenue bonds also include, for example, pollution control, health care and housing bonds, which, although nominally issued by municipal authorities, are generally not secured by the taxing power of the municipality but by the revenues of the authority derived from payments by the private entity which owns or operates the facility financed with the proceeds of the bonds. Obligations of housing finance authorities have a wide range of security features, including reserve funds and insured or subsidized mortgages, as well as the net revenues from housing or other public projects. Many of these bonds do not generally constitute the pledge of the credit of the issuer of such bonds. The credit quality of such revenue bonds is usually directly related to the credit standing of the user of the facility being financed or of an institution which provides a guarantee, letter of credit or other credit enhancement for the bond issue.

**Insured municipal bonds —** A fund may invest in municipal bonds that are insured generally as to the timely payment of interest and repayment of principal. The insurance for such bonds may be purchased by the bond issuer, the fund or any other party, and is usually purchased from private, non-governmental insurance companies. Insurance that covers a municipal bond is expected to protect the fund against losses caused by a bond issuer's failure to make interest or principal payments. However, insurance does not guarantee the market value of the bond or the prices of the fund shares. Also, the investment adviser cannot be certain that the insurance company will make payments it guarantees. The market value of the bond could drop if a bond's insurer fails to fulfill its obligations. Market conditions or changes to ratings criteria could adversely impact the ratings of municipal bond insurers. When rating agencies lower or withdraw the credit rating of the insurer, the insurance may be providing little or no enhancement of credit or resale value to the municipal bond.

**U.S. Territories and Commonwealth obligations —** A fund may invest in obligations of the territories and Commonwealths of the United States, such as Puerto Rico, the U.S. Virgin Islands, Guam and their agencies and authorities ("territories and Commonwealth"), to the extent such obligations are exempt from federal income taxes. Adverse political and economic conditions and developments affecting any territory or Commonwealth may, in turn, negatively affect the value of the fund's holdings in such obligations. Territories and Commonwealths face significant fiscal challenges, including persistent government deficits, underfunded retirement systems, sizable debt service obligations and a high unemployment rate. A restructuring of some or all of the debt or a decline in market prices of the territories' and Commonwealths' debt obligations, may affect the fund's investment in these securities. If the economic situation in the territories and Commonwealths persists or worsens, the volatility, credit quality and performance of the fund could be adversely affected.

**Zero coupon bonds —** Municipalities may issue zero coupon securities which are debt obligations that do not entitle the holder to any periodic payments of interest prior to maturity or a specified date when the securities begin paying current interest. They are issued and traded at a discount from their face amount or par value, which discount varies depending on the time remaining until cash payments begin, prevailing interest rates, liquidity of the security, and the perceived credit quality of the issuer.

**Pre-refunded/Escrowed to maturity bonds —** From time to time, a municipality may refund a bond that it has already issued prior to, or in the case of escrowed to maturity bonds on, the original bond's call or maturity date by issuing a second bond, the proceeds of which are typically used to purchase securities of the U.S. government (including its agencies and instrumentalities). The U.S. government securities are placed in an escrow account. The original bonds then become "pre-refunded" or "escrowed to maturity" and while the security is still tax-exempt, the proceeds of the escrow account act as collateral and the original bonds are considered high-quality in nature as a result. The principal and interest payments on the escrowed securities are then used to pay off the original bondholders on the call or maturity date. The escrow account securities do not guarantee the price movement of the bond before maturity. Investment in pre-refunded and escrowed to maturity bonds held by the fund may subject the fund to interest rate risk, market risk and credit risk. For purposes of diversification, pre-refunded and escrowed to maturity bonds will be treated as U.S. governmental issues.

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**Investing outside the United States —** Securities of issuers domiciled outside the United States or with significant operations or revenues outside the United States, and securities tied economically to countries outside the United States, 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 are domiciled, operate or generate revenue or to which the securities are tied economically. These issuers may also be more susceptible to actions of foreign governments such as the imposition of price controls, sanctions, or punitive taxes that could adversely impact the value of these securities. To the extent a fund invests in securities that are denominated in currencies other than the U.S. dollar, 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. Securities markets in certain countries may be more volatile or less liquid than those in the United States. Investments outside the United States may also be subject to different accounting practices and different regulatory, legal, auditing, financial reporting and recordkeeping standards and practices, and may be more difficult to value, than those in the United States. In addition, the value of investments outside the United States 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, which could impact the liquidity of the fund's portfolio. The risks of investing outside the United States may be heightened in connection with investments in emerging markets.

Additional costs could be incurred in connection with the fund's investment activities outside the United States. Brokerage commissions may be higher outside the United States, and the fund will bear certain expenses in connection with its currency transactions. Furthermore, increased custodian costs may be associated with maintaining assets in certain jurisdictions.

**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 tend to have less developed political, economic and legal systems than those in developed countries. Accordingly, the governments of these countries may be less stable and more likely to intervene in the market economy, for example, by imposing capital controls, nationalizing a company or industry, placing restrictions on foreign ownership and on withdrawing sale proceeds of securities from the country, and/or imposing punitive taxes that could adversely affect the prices of securities. Information regarding issuers in emerging markets may be limited, incomplete or inaccurate, and such issuers may not be subject to regulatory, accounting, auditing, and financial reporting and recordkeeping standards comparable to those to which issuers in more developed markets are subject. A fund's rights with respect to its investments in emerging markets, if any, will generally be governed by local law, which may make it difficult or impossible for the fund to pursue legal remedies or to obtain and enforce judgments in local courts. In addition, the economies of these countries may be dependent on relatively few industries, may have limited access to capital and may be more susceptible to changes in local and global trade conditions and downturns in the world economy. 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, more vulnerable to market manipulation, and 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.

In countries where direct foreign investment is limited or prohibited, the fund may invest in operating companies based in such countries through an offshore intermediary entity that, based on contractual agreements, seeks to replicate the rights and obligations of direct equity ownership in such operating company. Because the contractual arrangements do not in fact bestow the fund with actual equity ownership in the operating company, these investment structures may limit the fund's rights as an investor and create significant additional risks. For example, local government authorities may

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determine that such structures do not comply with applicable laws and regulations, including those relating to restrictions on foreign ownership. In such event, the intermediary entity and/or the operating company may be subject to penalties, revocation of business and operating licenses or forfeiture of foreign ownership interests, and the fund's economic interests in the underlying operating company and its rights as an investor may not be recognized, resulting in a loss to the fund and its shareholders. In addition, exerting control through contractual arrangements may be less effective than direct equity ownership, and a company may incur substantial costs to enforce the terms of such arrangements, including those relating to the distribution of the funds among the entities. These special investment structures may also be disregarded for tax purposes by local tax authorities, resulting in increased tax liabilities, and the fund's control over – and distributions due from – such structures may be jeopardized if the individuals who hold the equity interest in such structures breach the terms of the agreements. While these structures may be widely used to circumvent limits on foreign ownership in certain jurisdictions, there is no assurance that they will be upheld by local regulatory authorities or that disputes regarding the same will be resolved consistently.

Although there is no universally accepted definition, the investment adviser generally considers an emerging market to be a market that is in the earlier stages of its industrialization cycle with a low per capita gross domestic product ("GDP") and a low market capitalization to GDP ratio relative to those in the United States and the European Union, and would include markets commonly referred to as "frontier markets." For example, the investment adviser currently expects that most countries not designated as developed markets by MSCI Inc. ("MSCI") will be treated as emerging markets for equity securities, and that most countries designated as emerging markets by J.P. Morgan or, if not available, Bloomberg will be treated as emerging markets for debt securities.

#### Certain risk factors related to emerging markets
**Currency fluctuations —** Certain emerging markets' currencies have experienced and in the future may experience significant declines against the U.S. dollar. For example, if the U.S. dollar appreciates against foreign currencies, the value of a fund's emerging markets securities holdings would generally depreciate and vice versa. Further, the fund may lose money due to losses and other expenses incurred in converting various currencies to purchase and sell securities valued in currencies other than the U.S. dollar, as well as from currency restrictions, exchange control regulation, governmental restrictions that limit or otherwise delay the fund's ability to convert or repatriate currencies and currency devaluations.

**Government regulation —** Certain emerging markets lack uniform accounting, auditing and financial reporting and disclosure standards, have less governmental supervision of financial markets than in the United States, and may not honor legal rights or protections enjoyed by investors in the United States. Certain governments may be more unstable and present greater risks of nationalization or restrictions on foreign ownership of local companies. Repatriation of investment income, capital and the proceeds of sales by foreign investors may require governmental registration and/or approval in some emerging markets. While the fund will only invest in markets where these restrictions are considered acceptable by the investment adviser, a country could impose new or additional repatriation restrictions after the fund's investment. If this happened, the fund's response might include, among other things, applying to the appropriate authorities for a waiver of the restrictions or engaging in transactions in other markets designed to offset the risks of decline in that country. Such restrictions will be considered in relation to the fund's liquidity needs and other factors. Further, some attractive equity securities may not be available to the fund if foreign shareholders already hold the maximum amount legally permissible.

While government involvement in the private sector varies in degree among emerging markets, such involvement may in some cases include government ownership of companies in certain sectors, wage and price controls or imposition of trade barriers and other protectionist

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measures. With respect to any emerging market, there is no guarantee that some future economic or political crisis will not lead to price controls, forced mergers of companies, expropriation, or creation of government monopolies to the possible detriment of the fund's investments.

**Fluctuations in inflation rates —** Rapid fluctuations in inflation rates may have negative impacts on the economies and securities markets of certain emerging market countries.

**Less developed securities markets —** Emerging markets may be less well-developed and regulated than other markets. These markets have lower trading volumes than the securities markets of more developed countries and may be unable to respond effectively to increases in trading volume. Consequently, these markets may be substantially less liquid than those of more developed countries, and the securities of issuers located in these markets may have limited marketability. These factors may make prompt liquidation of substantial portfolio holdings difficult or impossible at times.

**Settlement risks —** Settlement systems in emerging markets are generally less well organized than those of developed markets. Supervisory authorities may also be unable to apply standards comparable to those in developed markets. Thus, there may be risks that settlement may be delayed and that cash or securities belonging to the fund may be in jeopardy because of failures of or defects in the systems. In particular, market practice may require that payment be made before receipt of the security being purchased or that delivery of a security be made before payment is received. In such cases, default by a broker or bank (the "counterparty") through which the transaction is effected might cause the fund to suffer a loss. The fund will seek, where possible, to use counterparties whose financial status is such that this risk is reduced. However, there can be no certainty that the fund will be successful in eliminating this risk, particularly as counterparties operating in emerging markets frequently lack the standing or financial resources of those in developed countries. There may also be a danger that, because of uncertainties in the operation of settlement systems in individual markets, competing claims may arise with respect to securities held by or to be transferred to the fund.

**Limited market information —** The fund may encounter problems assessing investment opportunities in certain emerging markets in light of limitations on available information and different accounting, auditing and financial reporting standards. For example, due to jurisdictional limitations, the Public Company Accounting Oversight Board ("PCAOB"), which regulates auditors of U.S. reporting companies, may be unable to inspect the audit work and practices of PCAOB-registered auditing firms in certain emerging markets. As a result, there is greater risk that financial records and information relating to an issuer's operations in emerging markets will be incomplete or misleading, which may negatively impact the fund's investments in such company. When faced with limited market information, the fund's investment adviser will seek alternative sources of information, and to the extent the investment adviser is not satisfied with the sufficiency or accuracy of the information obtained with respect to a particular market or security, the fund will not invest in such market or security.

**Taxation —** Taxation of dividends, interest and capital gains received by the fund varies among emerging markets and, in some cases, is comparatively high. In addition, emerging markets typically have less well-defined tax laws and procedures and such laws may permit retroactive taxation so that the fund could become subject in the future to local tax liability that it had not reasonably anticipated in conducting its investment activities or valuing its assets.

**Fraudulent securities —** Securities purchased by the fund may subsequently be found to be fraudulent or counterfeit, resulting in a loss to the fund.

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**Remedies —** Emerging markets may offer less protection to investors than U.S. markets and, in the event of investor harm, there may be substantially less recourse available to the fund and its shareholders. In addition, as a matter of law or practicality, the fund and its shareholders - as well as U.S. regulators - may encounter substantial difficulties in obtaining and enforcing judgments and other actions against non-U.S. individuals and companies.

**Derivatives —** In pursuing its investment objective(s), a fund may invest in derivative instruments. A derivative is a financial instrument, the value of which depends on, or is otherwise derived from, another underlying variable. Most often, the variable underlying a derivative is the price of a traded asset, such as a traditional cash security (e.g., a stock or bond), a currency or a commodity; however, the value of a derivative can be dependent on almost any variable, from the level of an index or a specified rate to the occurrence (or non-occurrence) of a credit event with respect to a specified reference asset. In addition to investing in forward currency contracts and currency options, as described under "Currency transactions," the fund may take positions in futures contracts and options on futures contracts and swaps, each of which is a derivative instrument described in greater detail below.

Derivative instruments may be distinguished by the manner in which they trade: some are standardized instruments that trade on an organized exchange while others are individually negotiated and traded in the over-the-counter ("OTC") market. Derivatives also range broadly in complexity, from simple derivatives to more complex instruments. As a general matter, however, all derivatives — regardless of the manner in which they trade or their relative complexities — entail certain risks, some of which are different from, and potentially greater than, the risks associated with investing directly in traditional cash securities.

As is the case with traditional cash securities, derivative instruments are generally subject to counterparty credit risk; however, in some cases, derivatives may pose counterparty risks greater than those posed by cash securities. The use of derivatives involves the risk that a loss may be sustained by the fund as a result of the failure of the fund's counterparty to make required payments or otherwise to comply with its contractual obligations. For some derivatives, though, the value of — and, in effect, the return on — the instrument may be dependent on both the individual credit of the fund's counterparty and on the credit of one or more issuers of any underlying assets. If the fund does not correctly evaluate the creditworthiness of its counterparty and, where applicable, of issuers of any underlying reference assets, the fund's investment in a derivative instrument may result in losses. Further, if a fund's counterparty were to default on its obligations, the fund's contractual remedies against such counterparty may be subject to applicable bankruptcy and insolvency laws, which could affect the fund's rights as a creditor and delay or impede the fund's ability to receive the net amount of payments that it is contractually entitled to receive. Derivative instruments are subject to additional risks, including operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

The value of some derivative instruments in which the fund invests may be particularly sensitive to changes in prevailing interest rates, currency exchange rates or other market conditions. Like the fund's other investments, the ability of the fund to successfully utilize such derivative instruments may depend in part upon the ability of the fund's investment adviser to accurately forecast interest rates and other economic factors. The success of the fund's derivative investment strategy will also depend on the investment adviser's ability to assess and predict the impact of market or economic developments on the derivative instruments in which the fund invests, in some cases without having had the benefit of observing the performance of a derivative under all possible market conditions. If the investment adviser incorrectly forecasts such factors and has taken positions in derivative instruments contrary to prevailing market trends, or if the investment adviser incorrectly predicts the impact of developments on a derivative instrument, the fund could suffer losses.

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Certain derivatives may also be subject to liquidity and valuation risks. The potential lack of a liquid secondary market for a derivative (and, particularly, for an OTC derivative, including swaps and OTC options) may cause difficulty in valuing or selling the instrument. If a derivative transaction is particularly large or if the relevant market is illiquid, as is often the case with many privately-negotiated OTC derivatives, the fund may not be able to initiate a transaction or to liquidate a position at an advantageous time or price. Particularly when there is no liquid secondary market for the fund's derivative positions, the fund may encounter difficulty in valuing such illiquid positions. The value of a derivative instrument does not always correlate perfectly with its underlying asset, rate or index, and many derivatives, and OTC derivatives in particular, are complex and often valued subjectively. Improper valuations can result in increased cash payment requirements to counterparties or a loss of value to the fund.

Because certain derivative instruments may obligate the fund to make one or more potential future payments, which could significantly exceed the value of the fund's initial investments in such instruments, derivative instruments may also have a leveraging effect on the fund's portfolio. Certain derivatives have the potential for unlimited loss, irrespective of the size of the fund's investment in the instrument. When a fund leverages its portfolio, investments in that fund will tend to be more volatile, resulting in larger gains or losses in response to market changes.

The fund's compliance with the SEC's rule applicable to the fund's use of derivatives may limit the ability of the fund to use derivatives as part of its investment strategy. The rule requires that a fund that uses derivatives in more than a limited manner, which is currently the case for the fund, adopt a derivatives risk management program, appoint a derivatives risk manager and comply with an outer limit on leverage based on value at risk, or "VaR". VaR is an estimate of an instrument's or portfolio's potential losses over a given time horizon (i.e., 20 trading days) and at a specified confidence level (i.e., 99%). VaR will not provide, and is not intended to provide, an estimate of an instrument's or portfolio's maximum potential loss amount. For example, a VaR of 5% with a specified confidence level of 99% would mean that a VaR model estimates that 99% of the time a fund would not be expected to lose more than 5% of its total assets over the given time period. However, 1% of the time, the fund would be expected to lose more than 5% of its total assets, and in such a scenario the VaR model does not provide an estimate of the extent of this potential loss. The derivatives rule may not be effective in limiting the fund's risk of loss, as measurements of VaR rely on historical data and may not accurately measure the degree of risk reflected in the fund's derivatives or other investments. A fund is generally required to satisfy the rule's outer limit on leverage by limiting the fund's VaR to 200% of the VaR of a designated reference portfolio that does not utilize derivatives each business day. If a fund does not have an appropriate designated reference portfolio in light of the fund's investments, investment objectives and strategy, a fund must satisfy the rule's outer limit on leverage by limiting the fund's VaR to 20% of the value of the fund's net assets each business day.

**Options** — The fund may invest in option contracts, including options on futures and options on currencies, as described in more detail under "Futures and Options on Futures" and "Currency Transactions," respectively. An option contract is a contract that gives the holder of the option, in return for a premium payment, the right to buy from (in the case of a call) or sell to (in the case of a put) the writer of the option the reference instrument underlying the option (or the cash value of the instrument underlying the option) at a specified exercise price. The writer of an option on a security has the obligation, upon exercise of the option, to cash settle or deliver the underlying currency or instrument upon payment of the exercise price (in the case of a call) or to cash settle or take delivery of the underlying currency or instrument and pay the exercise price (in the case of a put).

By purchasing a put option, the fund obtains the right (but not the obligation) to sell the currency or instrument underlying the option (or to deliver the cash value of the instrument underlying the option) at a specified exercise price, which is also referred to as the strike price. In return for this right, the fund pays the current market price, or the option premium, for the

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option. The fund may terminate its position in a put option by allowing the option to expire or by exercising the option. If the option is allowed to expire, the fund will lose the entire amount of the option premium paid. If the option is exercised, the fund completes the sale of the underlying instrument (or cash settles) at the strike price. The fund may also terminate a put option position by entering into opposing close-out transactions in advance of the option expiration date.

As a buyer of a put option, the fund can expect to realize a gain if the price of the underlying currency or instrument falls substantially. However, if the price of the underlying currency or instrument does not fall enough to offset the cost of purchasing the option, the fund can expect to suffer a loss, albeit a loss limited to the amount of the option premium plus any applicable transaction costs.

The features of call options are essentially the same as those of put options, except that the purchaser of a call option obtains the right (but not the obligation) to purchase, rather than sell, the underlying currency or instrument (or cash settle) at the specified strike price. The buyer of a call option typically attempts to participate in potential price increases of the underlying currency or instrument with risk limited to the cost of the option if the price of the underlying currency or instrument falls. At the same time, the call option buyer can expect to suffer a loss if the price of the underlying currency or instrument does not rise sufficiently to offset the cost of the option.

The writer of a put or call option takes the opposite side of the transaction from the option purchaser. In return for receipt of the option premium, the writer assumes the obligation to pay or receive the strike price for the option's underlying currency or instrument if the other party to the option chooses to exercise it. The writer may seek to terminate a position in a put option before exercise by entering into opposing close-out transactions in advance of the option expiration date. If the market for the relevant put option is not liquid, however, the writer must be prepared to pay the strike price while the option is outstanding, regardless of price changes.

If the price of the underlying currency or instrument rises, a put writer would generally expect to profit, although its gain would be limited to the amount of the premium it received. If the price of the underlying currency or instrument remains the same over time, it is likely that the writer would also profit because it should be able to close out the option at a lower price. This is because an option's value decreases with time as the currency or instrument approaches its expiration date. If the price of the underlying currency or instrument falls, the put writer would expect to suffer a loss. This loss should be less than the loss from purchasing the underlying currency or instrument directly, however, because the premium received for writing the option should mitigate the effects of the decline.

Writing a call option obligates the writer to, upon exercise of the option, deliver the option's underlying currency or instrument in return for the strike price or to make a net cash settlement payment, as applicable. The characteristics of writing call options are similar to those of writing put options, except that writing call options is generally a profitable strategy if prices remain the same or fall. The potential gain for the option seller in such a transaction would be capped at the premium received.

Several risks are associated with transactions in options on currencies, securities and other instruments (referred to as the "underlying instruments"). For example, there may be significant differences between the underlying instruments and options markets that could result in an imperfect correlation between these markets, which could cause a given transaction not to achieve its objectives. When a put or call option on a particular underlying

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instrument is purchased to hedge against price movements in a related underlying instrument, for example, the price to close out the put or call option may move more or less than the price of the related underlying instrument.

Options prices can diverge from the prices of their underlying instruments for a number of reasons. Options prices are affected by such factors as current and anticipated short-term interest rates, changes in the volatility of the underlying instrument, and the time remaining until expiration of the contract, which may not affect security prices in the same way. Imperfect correlation may also result from differing levels of demand in the options markets and the markets for the underlying instruments, from structural differences in how options and underlying instruments are traded, or from imposition of daily price fluctuation limits or trading halts. The fund may purchase or sell options contracts with a greater or lesser value than the underlying instruments it wishes to hedge or intends to purchase in order to attempt to compensate for differences in volatility between the contract and the underlying instruments, although this may not be successful. If price changes in the fund's options positions are less correlated with its other investments, the positions may fail to produce anticipated gains or result in losses that are not offset by gains in other investments.

There is no assurance that a liquid market will exist for any particular options contract at any particular time. Options may have relatively low trading volumes and liquidity if their strike prices are not close to the current prices of the underlying instruments. In addition, exchanges may establish daily price fluctuation limits for exchange-traded options contracts and may halt trading if a contract's price moves upward or downward more than the limit in a given day. On volatile trading days when the price fluctuation limit is reached or a trading halt is imposed, it may be impossible to enter into new positions or to close out existing positions. If the market for a contract is not liquid because of price fluctuation limits or otherwise, it could prevent prompt liquidation of unfavorable positions and could potentially require the fund to hold a position until delivery or expiration regardless of changes in its value.

Combined positions involve purchasing and writing options in combination with each other, or in combination with futures or forward contracts, in order to adjust the risk and return profile of the fund's overall position. For example, purchasing a put option and writing a call option on the same underlying instrument could construct a combined position with risk and return characteristics similar to selling a futures contract (but with leverage embedded). Another possible combined position would involve writing a call option at one strike price and buying a call option at a lower strike price to reduce the risk of the written call option in the event of a substantial price increase. Because such combined options positions involve multiple trades, they result in higher transaction costs and may be more difficult to open and close out.

**Futures and options on futures** — The fund may enter into futures contracts and options on futures contracts to seek to manage the fund's interest rate sensitivity by increasing or decreasing the duration of the fund or a portion of the fund's portfolio. A futures contract is an agreement to buy or sell a security or other financial instrument (the "reference asset") for a set price on a future date. An option on a futures contract gives the holder of the option the right to buy or sell a position in a futures contract from or to the writer of the option, at a specified price on or before the specified expiration date. Futures contracts and options on futures contracts are standardized, exchange-traded contracts, and, when such contracts are bought or sold, the fund will incur brokerage fees and will be required to maintain margin deposits.

Unlike when the fund purchases or sells a security, such as a stock or bond, no price is paid or received by the fund upon the purchase or sale of a futures contract. When the fund enters into a futures contract, the fund is required to deposit with its futures broker, known as a futures commission merchant ("FCM"), a specified amount of liquid assets in a segregated account in the name of the FCM at the applicable derivatives clearinghouse or exchange. This

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amount, known as initial margin, is set by the futures exchange on which the contract is traded and may be significantly modified during the term of the contract. The initial margin is in the nature of a performance bond or good faith deposit on the futures contract, which is returned to the fund upon termination of the contract, assuming all contractual obligations have been satisfied. Additionally, on a daily basis, the fund pays or receives cash, or variation margin, equal to the daily change in value of the futures contract. Variation margin does not represent a borrowing or loan by the fund but is instead a settlement between the fund and the FCM of the amount one party would owe the other if the futures contract expired. In computing daily net asset value, the fund will mark-to-market its open futures positions. A fund is also required to deposit and maintain margin with an FCM with respect to put and call options on futures contracts written by the fund. Such margin deposits will vary depending on the nature of the underlying futures contract (and related initial margin requirements), the current market value of the option, and other futures positions held by the fund. In the event of the bankruptcy or insolvency of an FCM that holds margin on behalf of the fund, the fund may be entitled to return of margin owed to it only in proportion to the amount received by the FCM's other customers, potentially resulting in losses to the fund. An event of bankruptcy or insolvency at a clearinghouse or exchange holding initial margin could also result in losses for the fund.

When the fund invests in futures contracts and options on futures contracts and deposits margin with an FCM, the fund becomes subject to so-called "fellow customer" risk – that is, the risk that one or more customers of the FCM will default on their obligations and that the resulting losses will be so great that the FCM will default on its obligations and margin posted by one customer, such as the fund, will be used to cover a loss caused by a different defaulting customer. Applicable Commodity Futures Trading Commission ("CFTC") rules generally prohibit the use of one customer's funds to meet the obligations of another customer and limit the ability of an FCM to use margin posed by non-defaulting customers to satisfy losses caused by defaulting customers. As a general matter, an FCM is required to use its own funds to meet a defaulting customer's obligations. While a customer's loss would likely need to be substantial before non-defaulting customers would be exposed to loss on account of fellow customer risk, applicable CFTC rules nevertheless permit the commingling of margin and do not limit the mutualization of customer losses from investment losses, custodial failures, fraud or other causes. If the loss is so great that, notwithstanding the application of an FCM's own funds, there is a shortfall in the amount of customer funds required to be held in segregation, the FCM could default and be placed into bankruptcy. Under these circumstances, bankruptcy law provides that non-defaulting customers will share pro rata in any shortfall. A shortfall in customer segregated funds may also make the transfer of the accounts of non-defaulting customers to another FCM more difficult.

Although certain futures contracts, by their terms, require actual future delivery of and payment for the reference asset, in practice, most futures contracts are usually closed out before the delivery date by offsetting purchases or sales of matching futures contracts. Closing out an open futures contract purchase or sale is effected by entering into an offsetting futures contract sale or purchase, respectively, for the same aggregate amount of the identical reference asset and the same delivery date. If the offsetting purchase price is less than the original sale price (in each case taking into account transaction costs, including brokerage fees), the fund realizes a gain; if it is more, the fund realizes a loss. Conversely, if the offsetting sale price is more than the original purchase price (in each case taking into account transaction costs, including brokerage fees), the fund realizes a gain; if it is less, the fund realizes a loss.

The fund may purchase and write call and put options on futures. A futures option gives the holder the right, in return for the premium paid, to assume a long position (call) or short position (put) in a futures contract at a specified exercise price at any time during the period of the option. Upon exercise of a call option, the holder acquires a long position in the futures contract, and the writer is assigned the opposite short position. The opposite is true in the case

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of a put option. A call option is "in the money" if the value of the futures contract that is the subject of the option exceeds the exercise price. A put option is "in the money" if the exercise price exceeds the value of the futures contract that is the subject of the option. See also "Options" above for a general description of investment techniques and risks relating to options.

The value of a futures contract tends to increase and decrease in tandem with the value of its underlying reference asset. Purchasing futures contracts will, therefore, tend to increase the fund's exposure to positive and negative price fluctuations in the reference asset, much as if the fund had purchased the reference asset directly. When the fund sells a futures contract, by contrast, the value of its futures position will tend to move in a direction contrary to the market for the reference asset. Accordingly, selling futures contracts will tend to offset both positive and negative market price changes, much as if the reference asset had been sold.

There is no assurance that a liquid market will exist for any particular futures or futures options contract at any particular time. Futures exchanges may establish daily price fluctuation limits for futures contracts and may halt trading if a contract's price moves upward or downward more than the limit in a given day. On volatile trading days, when the price fluctuation limit is reached and a trading halt is imposed, it may be impossible to enter into new positions or close out existing positions. If the market for a futures contract is not liquid because of price fluctuation limits or other market conditions, the fund may be prevented from promptly liquidating unfavorable futures positions and the fund could be required to continue to hold a position until delivery or expiration regardless of changes in its value, potentially subjecting the fund to substantial losses. Additionally, the fund may not be able to take other actions or enter into other transactions to limit or reduce its exposure to the position. Under such circumstances, the fund would remain obligated to meet margin requirements until the position is cleared. As a result, the fund's access to other assets posted as margin for its futures positions could also be impaired.

Although futures exchanges generally operate similarly in the United States and abroad, foreign futures exchanges may follow trading, settlement and margin procedures that are different than those followed by futures exchanges in the United States. Futures and futures options contracts traded outside the United States may not involve a clearing mechanism or related guarantees and may involve greater risk of loss than U.S.-traded contracts, including potentially greater risk of losses due to insolvency of a futures broker, exchange member, or other party that may owe initial or variation margin to the fund. Margin requirements on foreign futures exchanges may be different than those of futures exchanges in the United States, and, because initial and variation margin payments may be measured in foreign currency, a futures or futures options contract traded outside the United States may also involve the risk of foreign currency fluctuations.

**Swaps —** The fund may enter into swaps, which are two-party contracts entered into primarily by institutional investors for a specified time period. In a typical swap, two parties agree to exchange the returns earned or realized from one or more underlying assets or rates of return.

Swaps can be traded on a swap execution facility ("SEF") and cleared through a central clearinghouse (cleared), traded OTC and cleared, or traded bilaterally and not cleared. For example, standardized interest rate swaps and standardized credit default swap indices are traded on SEFs and cleared. Other forms of swaps, such as total return swaps and certain types of interest rate swaps and credit default swap indices are entered into on a bilateral basis. Because clearing interposes a central clearinghouse as the ultimate counterparty to each participant's swap, and margin is required to be exchanged under the rules of the clearinghouse, central clearing is intended to decrease (but not eliminate) counterparty risk relative to uncleared bilateral swaps. To the extent the fund enters into bilaterally negotiated

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swaps, the fund will enter into swaps only with counterparties that meet certain credit standards and have agreed to specific collateralization procedures; however, if the counterparty's creditworthiness deteriorates rapidly and the counterparty defaults on its obligations under the swap or declares bankruptcy, the fund may lose any amount it expected to receive from the counterparty. In addition, bilateral swaps are subject to certain regulatory margin requirements that mandate the posting and collection of minimum margin amounts, which may result in the fund and its counterparties posting higher margin amounts for bilateral swaps than would otherwise be the case.

The term of a swap can be days, months or years and certain swaps may be less liquid than others. If a swap is particularly large or if the relevant market is illiquid, it may not be possible to initiate a transaction or liquidate a position at an advantageous time or price, which may result in significant losses.

Swaps can take different forms. The fund may enter into the following types of swaps:

**Interest rate swaps —** The fund may enter into 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. An interest rate swap is an agreement between two parties to exchange or swap payments based on changes in an interest rate or rates. Typically, one interest rate is fixed and the other is variable based on a designated short-term interest rate such as the Secured Overnight Financing Rate ("SOFR"), prime rate or other benchmark, or on an inflation index such as the U.S. Consumer Price Index (which is a measure that examines the weighted average of prices of a basket of consumer goods and services and measures changes in the purchasing power of the U.S. dollar and the rate of inflation). In other types of interest rate swaps, known as basis swaps, the parties agree to swap variable interest rates based on different designated short-term interest rates. Interest rate swaps generally do not involve the delivery of securities or other principal amounts. Rather, cash payments are exchanged by the parties based on the application of the designated interest rates to a notional amount, which is the predetermined dollar principal of the trade upon which payment obligations are computed. Accordingly, the fund's current obligation or right under the swap is generally equal to the net amount to be paid or received under the swap based on the relative value of the position held by each party.

In addition to the risks of entering into swaps discussed above, the use of interest rate swaps involves the risk of losses if interest rates change.

**Total return swaps —** The fund may enter into total return swaps in order to gain exposure to a market or security without owning or taking physical custody of such security or investing directly in such market. A total return swap is an agreement in which one party agrees to make periodic payments to the other party based on the change in market value of the assets underlying the contract during the specified term in exchange for periodic payments based on a fixed or variable interest rate or the total return from other underlying assets. The asset underlying the contract may be a single security, a basket of securities or a securities index. Like other swaps, the use of total return swaps involves certain risks, including potential losses if a counterparty defaults on its payment obligations to the fund or the underlying assets do not perform as anticipated. There is no guarantee that entering into a total return swap will deliver returns in excess of the interest costs involved and, accordingly, the fund's performance may be lower than would have been achieved by investing directly in the underlying assets.

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**Credit default swap indices —** In order to assume exposure to a diversified portfolio of credits or to hedge against existing credit risks, the fund may invest in credit default swap indices, including CDX and iTraxx indices (collectively referred to as "CDSIs"). Additionally, in order to assume exposure to the commercial mortgage-backed security sector or to hedge against existing credit and market risks within such sector, the fund may invest in mortgage-backed security credit default swap indices, including the CMBX index (collectively referred to as "CMBXIs").

A CDSI is based on a portfolio of credit default swaps with similar characteristics, such as credit default swaps on high-yield bonds. A CMBXI is a tradeable index referencing a basket of commercial mortgage-backed securities. In a typical CDSI or CMBXI transaction, one party — the protection buyer — is obligated to pay the other party — the protection seller — a stream of periodic payments over the term of the contract. If a credit event, such as a default or restructuring, occurs with respect to any of the underlying reference obligations, the protection seller must pay the protection buyer the loss on those credits. Also, if a restructuring credit event occurs in an iTraxx index, the fund as protection buyer may receive a single name credit default swap ("CDS") representing the relevant constituent.

The fund may enter into a CDSI or CMBXI transaction as either protection buyer or protection seller. If the fund is a protection buyer, it would pay the counterparty a periodic stream of payments over the term of the contract and would not recover any of those payments if no credit events were to occur with respect to any of the underlying reference obligations. However, if a credit event did occur, the fund, as a protection buyer, would have the right to deliver the referenced debt obligations or a specified amount of cash, depending on the terms of the applicable agreement, and to receive the par value of such debt obligations from the counterparty protection seller. As a protection seller, the fund would receive fixed payments throughout the term of the contract if no credit events were to occur with respect to any of the underlying reference obligations. If a credit event were to occur, however, the value of any deliverable obligation received by the fund, coupled with the periodic payments previously received by the fund, may be less than the full notional value that the fund, as a protection seller, pays to the counterparty protection buyer, effectively resulting in a loss of value to the fund. Furthermore, as a protection seller, the fund would effectively add leverage to its portfolio because it would have investment exposure to the notional amount of the swap.

The use of CDSI or CMBXI, like all other swaps, is subject to certain risks, including the risk that the fund's counterparty will default on its obligations. If such a default were to occur, any contractual remedies that the fund might have may be subject to applicable bankruptcy laws, which could delay or limit the fund's recovery. Thus, if the fund's counterparty to a CDSI or CMBXI transaction defaults on its obligation to make payments thereunder, the fund may lose such payments altogether or collect only a portion thereof, which collection could involve substantial costs or delays.

Additionally, when the fund invests in a CDSI or CMBXI as a protection seller, the fund will be indirectly exposed to the creditworthiness of issuers of the underlying reference obligations in the index. If the investment adviser to the fund does not correctly evaluate the creditworthiness of issuers of the underlying instruments on which the CDSI or CMBXI is based, the investment could result in losses to the fund.

**Currency transactions —** A fund may enter into currency transactions on a spot (i.e., cash) basis at the prevailing rate in the currency exchange market to provide for the purchase or sale of a currency needed to purchase a security denominated in such currency. In addition, the fund may enter into

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forward currency contracts and may purchase and sell options on currencies to protect against changes in currency exchange rates, to increase exposure to a particular foreign currency, to shift exposure to currency fluctuations from one currency to another or to seek to increase returns. A forward currency contract is an obligation to purchase or sell a specific currency at a future date, which may be any fixed number of days from the date of the contract agreed upon by the parties, at a price set at the time of the contract. Some forward currency contracts, called non-deliverable forwards or NDFs, do not call for physical delivery of the currency and are instead settled through cash payments. Forward currency contracts are typically privately negotiated and traded in the interbank market between large commercial banks (or other currency traders) and their customers. Although forward contracts entered into by the fund will typically involve the purchase or sale of a currency against the U.S. dollar, the fund also may purchase or sell a non-U.S. currency against another non-U.S. currency.

The fund may also purchase or write put and call options on foreign currencies on exchanges or in the over-the-counter ("OTC") market. A put option on a foreign currency gives the purchaser of the option the right to sell a foreign currency at the exercise price until the option expires. A call option on a foreign currency gives the purchaser of the option the right to purchase the currency at the exercise price until the option expires. Currency options, to the extent not exercised, will expire and the fund, as the purchaser, would experience a loss to the extent of the premium paid for the option. Instead of purchasing a call option to hedge against an anticipated increase in the dollar cost of securities to be acquired, the fund could write a put option on the relevant currency, which, if exchange rates move in the manner projected, will expire unexercised and allow the fund to hedge such increased cost up to the amount of the premium. As in the case of other types of options, however, writing a currency option will provide a hedge only up to the amount of the premium, and only if exchange rates move in the expected direction. If this does not occur, the option may be exercised and the fund would be required to purchase or sell the underlying currency at a loss that may not be offset by the amount of the premium. Through the writing of options on foreign currencies, the fund also may be required to forego all or a portion of the benefit that might otherwise have been obtained from favorable movements in exchange rates. OTC options are bilateral contracts that are individually negotiated and they are generally less liquid than exchange-traded options. Although this type of arrangement allows the purchaser or writer greater flexibility to tailor an option to its needs, OTC options generally involve credit risk to the counterparty, whereas for exchange-traded options, credit risk is mutualized through the involvement of the applicable clearing house. Currency options traded on exchanges may be subject to position limits, which may limit the ability of the fund to reduce currency risk using such options. To the extent that the U.S. options markets are closed while the markets for the underlying currencies remain open, substantial price and rate movements may take place in the currency markets that cannot be reflected in the U.S. options markets. See also "Options" for a general description of investment techniques and risks relating to options.

Currency exchange rates generally are determined by forces of supply and demand in the foreign exchange markets and the relative merits of investment in different countries as viewed from an international perspective. Currency exchange rates, as well as foreign currency transactions, can also be affected unpredictably by intervention by U.S. or foreign governments or central banks or by currency controls or political developments in the United States or abroad. Such intervention or other events could prevent the fund from entering into foreign currency transactions, force the fund to exit such transactions at an unfavorable time or price or result in penalties to the fund, any of which may result in losses to the fund.

Generally, the fund will not attempt to protect against all potential changes in exchange rates and the use of forward contracts does not eliminate the risk of fluctuations in the prices of the underlying securities. If the value of the underlying securities declines or the amount of the fund's commitment increases because of changes in exchange rates, the fund may need to provide additional cash or securities to satisfy its commitment under the forward contract. The fund is also subject to the risk that it may be delayed or prevented from obtaining payments owed to it under the forward contract as a

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result of the insolvency or bankruptcy of the counterparty with which it entered into the forward contract or the failure of the counterparty to comply with the terms of the contract.

The realization of gains or losses on foreign currency transactions will usually be a function of the investment adviser's ability to accurately estimate currency market movements. Entering into forward currency transactions may change the fund's exposure to currency exchange rates and could result in losses to the fund if currencies do not perform as expected by the fund's investment adviser. For example, if the fund's investment adviser increases the fund's exposure to a foreign currency using forward contracts and that foreign currency's value declines, the fund may incur a loss. In addition, while entering into forward currency transactions could minimize the risk of loss due to a decline in the value of the hedged currency, it could also limit any potential gain that may result from an increase in the value of the currency. See also the "Derivatives" section under "Description of certain securities, investment techniques and risks" for a general description of investment techniques and risks relating to derivatives, including certain currency forwards and currency options.

Forward currency contracts may give rise to leverage, or exposure to potential gains and losses in excess of the initial amount invested. Leverage magnifies gains and losses and could cause the fund to be subject to more volatility than if it had not been leveraged, thereby resulting in a heightened risk of loss. Forward currency contracts are considered derivatives. Accordingly, under the SEC's rule applicable to the fund's use of derivatives, a fund's obligations with respect to these instruments will depend on the fund's aggregate usage of and exposure to derivatives, and the fund's usage of forward currency contracts is subject to written policies and procedures reasonably designed to manage the fund's derivatives risk.

Forward currency transactions also may affect the character and timing of income, gain, or loss recognized by the fund for U.S. tax purposes. The use of forward currency contracts could result in the application of the mark-to-market provisions of the Internal Revenue Code of 1986 as amended (the "Code") and may cause an increase (or decrease) in the amount of taxable dividends paid by the fund.

**Currency hedging transactions** — A fund's use of forward currency contracts to hedge substantially all of the fund's foreign currency exposure could result in losses to the fund if currencies do not perform as expected. Currency markets generally are not as regulated as securities markets. Additionally, currency exchange rates may be volatile and may change quickly and unpredictably in response to global economic developments and regional economic conditions in which a fund invests; these factors may reduce the fund's returns. Volatility in one or more currencies may offset stability in another currency and reduce the overall effectiveness of the fund's currency hedging strategy. Volatility of the U.S. dollar relative to the currencies being hedged will generally reduce the effectiveness of the fund's currency hedging transactions. Differences between U.S. dollar interest rates and foreign currency interest rates may also impact the effectiveness of a fund's currency hedging transactions. In addition, governments may intervene in the currency markets in order to influence prices and/or foreign exchange rates with respect to their currency, which may result in the fund's inability to hedge its currency transactions as anticipated. Investors seeking to transact in foreign currencies may have limited access to certain currency markets due to factors including regulatory limitations, adverse tax treatment, exchange controls, currency convertibility issues and limited market liquidity, which can limit the fund's ability to hedge exposure to the currency markets. There is no assurance that the use of forward currency contracts to minimize the impact of currency fluctuations on fund returns will benefit the fund.

A fund's use of forward currency contracts to hedge substantially all of the fund's foreign currency exposure is intended to minimize the impact of currency fluctuations on fund returns; however, this strategy will not eliminate a fund's exposure to currency risk. The use of forward currency contracts will not entirely offset the fluctuations between the fund's exposure to non-U.S. currencies and the U.S. dollar. A fund's exposure to foreign currencies may not be hedged at all times, including at times when a fund is implementing a currency hedging transaction. In addition, the reduction of a fund's exposure

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to currency risks limits the fund's ability to benefit from favorable changes in currency exchange rates. There are also transaction costs, such as those incurred from the frequent trading of currency instruments, that the fund may incur to hedge its foreign currency exposure.

**Indirect exposure to cryptocurrencies –** Cryptocurrencies are digital assets which may act as a store of wealth, a medium of exchange or an investment asset. There are thousands of cryptocurrencies, such as bitcoin. Although a fund has no current intention of directly investing in cryptocurrencies, some issuers accept cryptocurrency for payment of services, use cryptocurrencies as reserve assets and/or invest in cryptocurrencies, and the fund may have exposure to cryptocurrencies through investments in securities of such issuers. The fund may also invest in securities of issuers which provide cryptocurrency-related services.

Cryptocurrencies are subject to fluctuations in value. Cryptocurrencies are not backed by any government, corporation or other identified body. Rather, the value of a cryptocurrency is determined by other factors, such as the perceived future prospects or the supply and demand for such cryptocurrency in the global market for the trading of cryptocurrency. Cryptocurrencies may trade on platforms which are largely unregulated and may be more exposed to operational or technical issues as well as fraud or manipulation in comparison to established, regulated exchanges for securities, derivatives and traditional currencies. The values of cryptocurrencies have been, and may in the future continue to be, highly volatile and subject to sudden and significant increases and declines. The value of a cryptocurrency may decline precipitously (including to zero) for a variety of reasons, including, but not limited to, regulatory changes, a loss of confidence in its network or a change in user preference to other cryptocurrencies. The value of securities of issuers with significant holdings of cryptocurrencies may be subject to, among other things, fluctuations in the value of such cryptocurrencies, and such issuers may experience custody issues and/or lose their cryptocurrency holdings through theft, hacking, or technical glitches in the applicable blockchain. The fund may experience losses as a result of the decline in value of its securities of issuers that own cryptocurrencies or which provide cryptocurrency-related services. If an issuer that owns cryptocurrencies intends to pay a dividend using such holdings or to otherwise make a distribution of such holdings to its stockholders, such dividends or distributions may face regulatory, operational and technical issues.

Factors affecting the further development, use, and exchange of cryptocurrency include, but are not limited to: continued worldwide growth of, or possible cessation of or reversal in, the adoption and use of cryptocurrencies and other digital assets; the developing regulatory environment relating to cryptocurrencies, including the characterization of cryptocurrencies as currencies, commodities, or securities, the tax treatment of cryptocurrencies, and government and quasi-government regulation or restrictions on, or regulation of access to and operation of, cryptocurrency networks and the exchanges on which cryptocurrencies trade, including anti-money laundering regulations and requirements; perceptions regarding the environmental impact of a cryptocurrency; changes in consumer demographics and public preferences; general economic conditions; maintenance and development of open-source software protocols; the availability and popularity of other forms or methods of buying and selling goods and services; the use of the networks supporting digital assets, such as those for developing smart contracts and distributed applications; and general risks tied to the use of information technologies, including cyber risks. A hack or failure of one cryptocurrency may lead to a loss in confidence in, and thus decreased usage and/or value of, other cryptocurrencies.

**Real estate investment trusts —** Real estate investment trusts ("REITs"), which primarily invest in real estate or real estate-related loans, may issue equity or debt securities. Equity REITs own real estate properties, while mortgage REITs hold construction, development and/or long-term mortgage loans. The values of REITs may be affected by changes in the value of the underlying property of the trusts, the creditworthiness of the issuer, property taxes, interest rates, tax laws and regulatory requirements, such as those relating to the environment. Both types of REITs are dependent upon management skill and the cash flows generated by their holdings, the real estate market in general and the possibility of

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failing to qualify for any applicable pass-through tax treatment or failing to maintain any applicable exemptive status afforded under relevant laws.

**Forward commitment, when issued and delayed delivery transactions —** A fund may enter into commitments to purchase or sell securities at a future date. When the fund agrees to purchase such securities, it assumes the risk of any decline in value of the security from the date of the agreement, and when the fund agrees to sell such securities, it assumes the risk of any increase in value of the security. If the other party to such a transaction fails to deliver or pay for the securities, the fund could miss a favorable price or yield opportunity, or could experience a loss.

A fund may roll such transactions in lieu of taking physical delivery of the contract's underlying assets on the settlement date. When rolling the purchase of these types of transactions, the fund sells mortgage-backed securities for delivery in the current month and simultaneously contracts to repurchase substantially similar (same type, coupon, and maturity) securities on a specified future date, at a pre-determined price. When rolling the sale of these types of transactions, the fund purchases mortgage-backed securities for delivery in the current month and simultaneously contracts to sell substantially similar (same type, coupon, and maturity) securities on a specified future date, at a pre-determined price.

When rolling these types of transactions, during the period between the initial sale (or purchase) and subsequent repurchase (or sale) (the "roll period"), the fund forgoes principal and interest paid on the mortgage-backed securities. The fund is compensated by the price differential between the original and new contracts (often referred to as the "drop"), if any, as well as by the interest earned on the cash proceeds of any sales. The fund also takes the risk that market prices or characteristics of the underlying mortgage-backed securities may move unfavorably between the original and new contracts. The fund could suffer a loss if the contracting party fails to perform the future transaction and the fund is therefore unable to buy or sell back the mortgage-backed securities it initially either sold or purchased, respectively. These transactions are accounted for as purchase and sale transactions, which contribute to the fund's portfolio turnover rate.

With to be announced ("TBA") transactions, the particular securities (i.e., specified mortgage pools) to be delivered or received are not identified at the trade date, but are "to be announced" at a later settlement date. However, securities to be delivered must meet specified criteria, including face value, coupon rate and maturity, and be within industry-accepted "good delivery" standards. The fund will not use these transactions for the purpose of leveraging. Although these transactions will not be entered into for leveraging purposes, the fund temporarily could be in a leveraged position (because it may have an amount greater than its net assets subject to market risk). Should market values of the fund's portfolio securities decline while the fund is in a leveraged position, greater depreciation of its net assets would likely occur than if it were not in such a position. After a transaction is entered into, the fund may still dispose of or renegotiate the transaction. Additionally, prior to receiving delivery of securities as part of a transaction, the fund may sell such securities.

When the fund enters into a TBA commitment for the sale of mortgage-backed securities for a fixed price, with payment and delivery on an agreed upon future settlement date (which may be referred to as having a short position in such TBA securities), the fund may or may not hold the types of mortgage-backed securities required to be delivered. To the extent the fund has sold such a security on a when-issued, delayed delivery, or forward commitment basis, the fund would not participate in future gains or losses with respect to the security if the fund holds such security. If the other party to a transaction fails to pay for the securities, the fund could suffer a loss. Additionally, when selling a security on a when-issued, delayed delivery or forward commitment basis without owning the security, the fund will incur a loss if the security's price appreciates in value such that the security's price is above the agreed-upon price on the settlement date.

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Under the SEC's rule applicable to the fund's use of derivatives, when issued, forward-settling and nonstandard settlement cycle securities, as well as TBAs and roll transactions, will be treated as derivatives unless the fund intends to physically settle these transactions and the transactions will settle within 35 days of their respective trade dates.

**Loan assignments and participations —** A fund may invest in loans or other forms of indebtedness that represent interests in amounts owed by corporations or other borrowers (collectively "borrowers"). The investment adviser defines debt securities to include investments in loans, such as loan assignments and participations. Loans may be originated by the borrower in order to address its working capital needs, as a result of a reorganization of the borrower's assets and liabilities (recapitalizations), to merge with or acquire another company (mergers and acquisitions), to take control of another company (leveraged buy-outs), to provide temporary financing (bridge loans), or for other corporate purposes. Most corporate loans are variable or floating rate obligations.

Some loans may be secured in whole or in part by assets or other collateral. In other cases, loans may be unsecured or may become undersecured by declines in the value of assets or other collateral securing such loan. The greater the value of the assets securing the loan the more the lender is protected against loss in the case of nonpayment of principal or interest. Loans made to highly leveraged borrowers may be especially vulnerable to adverse changes in economic or market conditions and may involve a greater risk of default.

Some loans may represent revolving credit facilities or delayed funding loans, in which a lender agrees to make loans up to a maximum amount upon demand by the borrower during a specified term. These commitments may have the effect of requiring the fund to increase its investment in a company at a time when it might not otherwise decide to do so (including at a time when the company's financial condition makes it unlikely that such amounts will be repaid).

Some loans may represent debtor-in-possession financings (commonly known as "DIP financings"). DIP financings are arranged when an entity seeks the protections of the bankruptcy court under Chapter 11 of the U.S. Bankruptcy Code. These financings allow the entity to continue its business operations while reorganizing under Chapter 11. Such financings constitute senior liens on unencumbered collateral (i.e., collateral not subject to other creditors' claims). There is a risk that the entity will not emerge from Chapter 11 and will be forced to liquidate its assets under Chapter 7 of the U.S. Bankruptcy Code. In the event of liquidation, the fund's only recourse will be against the collateral securing the DIP financing.

The investment adviser generally makes investment decisions based on publicly available information, but may rely on non-public information if necessary. Borrowers may offer to provide lenders with material, non-public information regarding a specific loan or the borrower in general. The investment adviser generally chooses not to receive this information. As a result, the investment adviser may be at a disadvantage compared to other investors that may receive such information. The investment adviser's decision not to receive material, non-public information may impact the investment adviser's ability to assess a borrower's requests for amendments or waivers of provisions in the loan agreement. However, the investment adviser may on a case-by-case basis decide to receive such information when it deems prudent. In these situations the investment adviser may be restricted from trading the loan or buying or selling other debt and equity securities of the borrower while it is in possession of such material, non-public information, even if such loan or other security is declining in value.

The fund normally acquires loan obligations through an assignment from another lender, but also may acquire loan obligations by purchasing participation interests from lenders or other holders of the interests. When the fund purchases assignments, it acquires direct contractual rights against the borrower on the loan. The fund acquires the right to receive principal and interest payments directly from the borrower and to enforce its rights as a lender directly against the borrower. However,

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because assignments are arranged through private negotiations between potential assignees and potential assignors, the rights and obligations acquired by a fund as the purchaser of an assignment may differ from, and be more limited than, those held by the assigning lender. Loan assignments are 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 purchase of a loan. Risks may also arise due to the inability of the agent to meet its obligations under the loan agreement.

Loan participations are loans or other direct debt instruments that are interests in amounts owed by the borrower to another party. They may represent amounts owed to lenders or lending syndicates, to suppliers of goods or services, or to other parties. The fund will have the right to receive payments of principal, interest and any fees to which it is entitled only from the lender selling the participation and only upon receipt by the lender of the payments from the borrower. In connection with purchasing participations, the fund generally will have no right to enforce compliance by the borrower with the terms of the loan agreement relating to the loan, nor any rights of set-off against the borrower. In addition, the fund may not directly benefit from any collateral supporting the loan in which it has purchased the participation and the fund will have to rely on the agent bank or other financial intermediary to apply appropriate credit remedies. As a result, the fund will be subject to the credit risk of both the borrower and the lender that is selling the participation. In the event of the insolvency of the lender selling a participation, a fund may be treated as a general creditor of the lender and may not benefit from any set-off between the lender and the borrower.

Loan assignments and participations are generally subject to legal or contractual restrictions on resale and are not currently listed on any securities exchange or automatic quotation system. Risks may arise due to delayed settlements of loan assignments and participations. The investment adviser expects that most loan assignments and participations purchased for the fund will trade on a secondary market. However, although secondary markets for investments in loans are growing among institutional investors, a limited number of investors may be interested in a specific loan. It is possible that loan participations, in particular, could be sold only to a limited number of institutional investors. If there is no active secondary market for a particular loan, it may be difficult for the investment adviser to sell the fund's interest in such loan at a price that is acceptable to it and to obtain pricing information on such loan.

Investments in loan participations and assignments present the possibility that the fund could be held liable as a co-lender under emerging legal theories of lender liability. In addition, if the loan is foreclosed, the fund could be part owner of any collateral and could bear the costs and liabilities of owning and disposing of the collateral. In addition, some loan participations and assignments may not be rated by major rating agencies and may not be protected by securities laws.

**Unfunded commitment agreements —** A fund may enter into unfunded commitment agreements to make certain investments, including unsettled bank loan purchase transactions. Under the SEC's rule applicable to the fund's use of derivatives, unfunded commitment agreements are not derivatives transactions. The fund will only enter into such unfunded commitment agreements if the fund reasonably believes, at the time it enters into such agreement, that it will have sufficient cash and cash equivalents to meet its obligations with respect to all of its unfunded commitment agreements as they come due.

**Variable and floating rate obligations —** The interest rates payable on certain securities and other instruments in which a fund may invest may not be fixed but may fluctuate based upon changes in market interest rates or credit ratings. Variable and floating rate obligations bear coupon rates that are adjusted at designated intervals, based on the then current market interest rates or credit ratings. The rate adjustment features tend to limit the extent to which the market value of the obligations will fluctuate. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund's shares.

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**Issue classification —** Securities with the same general quality rating and maturity characteristics, but which vary according to the purpose for which they were issued, often tend to trade at different yields. Correspondingly, securities issued for similar purposes and with the same general maturity characteristics, but which vary according to the creditworthiness of their respective issuers, tend to trade at different yields. These yield differentials tend to fluctuate in response to political and economic developments, as well as temporary imbalances in normal supply/demand relationships. The investment adviser monitors these fluctuations closely, and will attempt to adjust portfolio concentrations in various issue classifications according to the value disparities brought about by these yield relationship fluctuations.

The investment adviser believes that, in general, the market for municipal bonds is less liquid than that for taxable fixed income securities. Accordingly, the ability of a fund to make purchases and sales of securities in the foregoing manner may, at any particular time and with respect to any particular securities, be limited or non-existent.

**Inverse floating rate notes —** A fund may invest in inverse floating rate notes (a type of derivative instrument). These notes have rates that move in the opposite direction of prevailing interest rates. A change in prevailing interest rates will often result in a greater change in these instruments' interest rates. As a result, these instruments may have a greater degree of volatility than other types of interest-bearing securities.

**Equity securities —** Equity securities represent an ownership position in a company. Equity securities held by a fund typically consist of common stocks. The prices of equity securities fluctuate based on, among other things, events specific to their issuers and market, economic and other conditions. For example, prices of these securities can be affected by financial contracts held by the issuer or third parties (such as derivatives) relating to the security or other assets or indices. Holders of equity securities are not creditors of the issuer. If an issuer liquidates, holders of equity securities are entitled to their pro rata share of the issuer's assets, if any, after creditors (including the holders of fixed income securities and senior equity securities) are paid.

There may be little trading in the secondary market for particular equity securities, which may adversely affect the fund's ability to value accurately or dispose of such equity securities. Adverse publicity and investor perceptions, whether or not based on fundamental analysis, may decrease the value and/or liquidity of equity securities.

**Warrants and rights —** Warrants and rights may be acquired by a fund in connection with other securities or separately. Warrants generally entitle, but do not obligate, their holder to purchase other equity or fixed income securities at a specified price at a later date. Rights are similar to warrants but typically have a shorter duration and are issued by a company to existing holders of its stock to provide those holders the right to purchase additional shares of stock at a later date. Warrants and rights do not carry with them the right to dividends or voting rights with respect to the securities that they entitle their holder to purchase, and they do not represent any rights in the assets of the issuing company. Additionally, a warrant or right ceases to have value if it is not exercised prior to its expiration date. As a result, warrants and rights may be considered more speculative than certain other types of investments. Changes in the value of a warrant or right do not necessarily correspond to changes in the value of its underlying security. The price of a warrant or right may be more volatile than the price of its underlying security, and they therefore present greater potential for capital appreciation and capital loss. The effective price paid for warrants or rights added to the subscription price of the related security may exceed the value of the subscribed security's market price, such as when there is no movement in the price of the underlying security. The market for warrants or rights may be very limited and it may be difficult to sell them promptly at an acceptable price.

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**Reinsurance related notes and bonds —** A fund may invest in reinsurance related notes and bonds. These instruments, which are typically issued by special purpose reinsurance companies, transfer an element of insurance risk to the note or bond holders. For example, such a note or bond could provide that the reinsurance company would not be required to repay all or a portion of the principal value of the note or bond if losses due to a catastrophic event under the policy (such as a major hurricane) exceed certain dollar thresholds. Consequently, the fund may lose the entire amount of its investment in such bonds or notes if such an event occurs and losses exceed certain dollar thresholds. In this instance, investors would have no recourse against the insurance company. These instruments may be issued with fixed or variable interest rates and rated in a variety of credit quality categories by the rating agencies.

**Repurchase agreements —** A fund may enter into repurchase agreements, or "repos", under which the fund buys a security and obtains a simultaneous commitment from the seller to repurchase the security at a specified time and price. Because the security purchased constitutes collateral for the repurchase obligation, a repo may be considered a loan by the fund that is collateralized by the security purchased. Repos permit the fund to maintain liquidity and earn income over periods of time as short as overnight.

The seller must maintain with a custodian collateral equal to at least the repurchase price, including accrued interest. In tri-party repos and centrally cleared or "sponsored" repos, a third-party custodian, either a clearing bank in the case of tri-party repos or a central clearing counterparty in the case of centrally cleared repos, facilitates repo clearing and settlement, including by providing collateral management services. In bilateral repos, the parties themselves are responsible for settling transactions.

The fund will only enter into repos involving securities of the type in which it could otherwise invest. If the seller under the repo defaults, the fund may incur a loss if the value of the collateral securing the repo has declined and may incur disposition costs and delays in connection with liquidating the collateral. If bankruptcy proceedings are commenced with respect to the seller, realization of the collateral by the fund may be delayed or limited.

**Cash and cash equivalents —** A fund may hold cash or invest in cash equivalents. Cash equivalents include, but are not limited to: (*a*) shares of money market or similar funds managed by the investment adviser or its affiliates; (*b*) shares of other money market funds; (*c*) commercial paper; (*d*) short-term bank obligations (for example, certificates of deposit, bankers' acceptances (time drafts on a commercial bank where the bank accepts an irrevocable obligation to pay at maturity)) or bank notes; (*e*) savings association and savings bank obligations (for example, bank notes and certificates of deposit issued by savings banks or savings associations); (*f*) securities of the U.S. government, its agencies or instrumentalities that mature, or that may be redeemed, in one year or less; and (*g*) higher quality corporate bonds and notes that mature, or that may be redeemed, in one year or less.

**Commercial paper —** A fund may purchase commercial paper. Commercial paper refers to short-term promissory notes issued by a corporation to finance its current operations. Such securities normally have maturities of thirteen months or less and, though commercial paper is often unsecured, commercial paper may be supported by letters of credit, surety bonds or other forms of collateral. Maturing commercial paper issuances are usually repaid by the issuer from the proceeds of new commercial paper issuances. As a result, investment in commercial paper is subject to rollover risk, or the risk that the issuer cannot issue enough new commercial paper to satisfy its outstanding commercial paper. Like all fixed income securities, commercial paper prices are susceptible to fluctuations in interest rates. If interest rates rise, commercial paper prices will decline and vice versa. However, the short-term nature of a commercial paper investment makes it less susceptible to volatility than many other fixed income securities because interest rate risk typically increases as maturity lengths increase. Commercial paper tends to yield smaller returns than longer-term corporate debt because securities with shorter maturities typically have lower effective yields than those with longer

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maturities. As with all fixed income securities, there is a chance that the issuer will default on its commercial paper obligations and commercial paper may become illiquid or suffer from reduced liquidity in these or other situations.

Commercial paper in which the fund may invest includes commercial paper issued in reliance on the exemption from registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the "1933 Act"). Section 4(a)(2) commercial paper has substantially the same price and liquidity characteristics as commercial paper generally, except that the resale of Section 4(a)(2) commercial paper is limited to institutional investors who agree that they are purchasing the paper for investment purposes and not with a view to public distribution. Technically, such a restriction on resale renders Section 4(a)(2) commercial paper a restricted security under the 1933 Act. In practice, however, Section 4(a)(2) commercial paper typically can be resold as easily as any other unrestricted security held by the fund. Accordingly, Section 4(a)(2) commercial paper has been generally determined to be liquid under procedures adopted by the trust's board of trustees.

**Temporary investments —** A fund may invest in short-term municipal obligations of up to one year in maturity when temporary defensive strategies are used as a result of abnormal market conditions, or when such investments are considered advisable for liquidity. Generally, the income from such short-term municipal obligations is exempt from federal income tax. Further, a portion of the fund's assets may be held in cash or invested in high-quality taxable short-term securities of up to one year in maturity. Such investments may include: (*a*) obligations of the U.S. Treasury; (*b*) obligations of agencies and instrumentalities of the U.S. government; (*c*) money market instruments, such as certificates of deposit issued by domestic banks, corporate commercial paper, and bankers' acceptances; and (*d*) repurchase agreements.

**Restricted or illiquid securities —** 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. Restricted securities, for example, may only be sold pursuant to an exemption from registration under the Securities Act of 1933, as amended (the "1933 Act"), or in a registered public offering. Where registration is required, the holder of a registered security may be obligated to pay all or part of the registration expense and a considerable period may elapse between the time it decides to seek registration and the time it may be permitted to sell a security under an effective registration statement.

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 a fund may be unable to sell such holdings when necessary to meet its liquidity needs or may be forced to sell at a loss. Some fund holdings (including some restricted securities) may be deemed illiquid if the fund expects that a reasonable portion of the holding cannot be sold in seven calendar days or less without the sale significantly changing the market value of the investment. The determination of whether a holding is considered illiquid is made by the fund's adviser under a liquidity risk management program adopted by the fund's board and administered by the fund's adviser. The fund may incur significant additional costs in disposing of illiquid securities.

**Tax-exempt securities —** While Capital Group Municipal High-Income ETF, Capital Group Municipal Income ETF and Capital Group Short Duration Municipal Income ETF seek to purchase securities which bear interest that is exempt from federal income taxes there are risks that such interest may be reclassified as taxable by the Internal Revenue Service, or a state tax authority. Actions by the issuer or future legislative, administrative or court actions also could adversely affect the tax-exempt status of interest paid by such securities. Such reclassifications or actions could cause interest from a security to become includable in the gross income of the holder of the security, possibly retroactively, subjecting

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fund shareholders to increased tax liability. In addition, such reclassifications or actions could cause the value of a security, and therefore the value of the fund's shares, to decline.

**Maturity / Duration —** For most funds covered by this SAI, there are no restrictions on the maturity or duration composition of the portfolio. A fund invests in debt securities with a wide range of maturities or duration. Under normal market conditions, longer term securities yield more than shorter term securities, but are subject to greater price fluctuations. Notwithstanding the foregoing, Capital Group Short Duration Municipal Income ETF and Capital Group Ultra Short Income ETF seek to maintain a lower average portfolio duration as indicated in the "Certain investment limitations and guidelines" section of this SAI. Duration is a measure used to determine the sensitivity of a security's price to changes in interest rates. The longer a security's duration, the more sensitive it will be to changes in interest rates. For example, the price of a security with a duration of one year would be expected to fall approximately 1% if interest rates rose by one percentage point. Maturity and duration both measure a bond's price sensitivity to a change in interest rates. That said, the maturity of a security measures only the time until a final bond payment is due, whereas duration takes into account the pattern of all payments of interest and principal on a security over time, including how these payments are affected by prepayments and changes in interest rates, as well as the time until an interest rate is reset (in the case of variable-rate securities).

**Adjustment of maturities —** The investment adviser seeks to anticipate movements in interest rates and may adjust the maturity distribution of the fund's portfolio accordingly, keeping in mind the fund's objective(s).

**Risk of non-compliance with certain federal requirements —** The Internal Revenue Code of 1986 (the "Code") imposes limitations on the use and investment of the proceeds of state and local governmental bonds and of other funds of the issuers of such bonds. These limitations must be satisfied on a continuing basis to maintain the exclusion from gross income of interest on such bonds. The investment adviser relies on the opinion of bond counsel. Bond counsel qualify their opinions as to the federal tax status of new issues of bonds by making such opinions contingent on the issuer's future compliance with these limitations. Any failure on the part of an issuer to comply could cause the interest on its bonds to become taxable to investors retroactive to the date the bonds were issued. These restrictions in the Code also may affect the availability of certain municipal securities.

**Cybersecurity risks —** With the increased use of technologies such as the Internet to conduct business, a fund and its Authorized Participants and service providers and relevant listing exchange(s) have become potentially more susceptible to operational and information security risks through breaches in cybersecurity. In general, a breach in cybersecurity can result from either a deliberate attack or an unintentional event. Cybersecurity breaches may involve, among other things, "ransomware" attacks, injection of computer viruses or malicious software code, or the use of vulnerabilities in code to gain unauthorized access to digital information systems, networks or devices that are used directly or indirectly by the fund or its service providers through "hacking" or other means. Cybersecurity risks also include the risk of losses of service resulting from external attacks that do not require unauthorized access to the fund's systems, networks or devices. For example, denial-of-service attacks on the investment adviser's or an affiliate's website could effectively render the fund's network services unavailable to fund shareholders and other intended end-users. Any such cybersecurity breaches or losses of service may, among other things, cause the fund to lose proprietary information, suffer data corruption or lose operational capacity, or may result in the misappropriation, unauthorized release or other misuse of the fund's assets or sensitive information (including shareholder personal information or other confidential information), the inability of fund shareholders to transact business, or the destruction of the fund's physical infrastructure, equipment or operating systems. These, in turn, could cause the fund to violate applicable privacy and other laws and incur or suffer regulatory penalties, reputational damage, additional costs (including compliance costs) associated with corrective measures and/or financial loss. While the fund and its investment adviser have established business continuity plans and risk management systems designed to prevent or reduce the impact of

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cybersecurity attacks, there are inherent limitations in such plans and systems due in part to the ever-changing nature of technology and cybersecurity attack tactics, and there is a possibility that certain risks have not been adequately identified or prepared for.

In addition, cybersecurity failures by or breaches of the fund's Authorized Participants and third-party service providers (including, but not limited to, the fund's investment adviser, transfer agent, custodian, administrators and other financial intermediaries) may disrupt the business operations of the Authorized Participants, service providers and of the fund, potentially resulting in financial losses, the inability of Authorized Participants to transact business with the fund and of the fund and/or Authorized Participants to process transactions, the inability of the fund to calculate its net asset value, violations of applicable privacy and other laws, rules and regulations, regulatory fines, penalties, reputational damage, reimbursement or other compensatory costs and/or additional compliance costs associated with implementation of any corrective measures. The fund and its shareholders could be negatively impacted as a result of any such cybersecurity breaches, and there can be no assurance that the fund will not suffer losses relating to cybersecurity attacks or other informational security breaches affecting the fund's Authorized Participants and third-party service providers in the future, particularly as the fund cannot control any cybersecurity plans or systems implemented by such Authorized Participants and/or service providers.

Cybersecurity risks may also impact issuers of securities in which the fund invests, which may cause the fund's investments in such issuers to lose value.

**Inflation/Deflation risk —** A fund may be subject to inflation and deflation risk. Inflation risk is the risk that the present value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the fund's assets can decline. Deflation risk is the risk that prices throughout the economy decline over time. Deflation or inflation may have an adverse effect on the creditworthiness of issuers and may make issuer default more likely, which may result in a decline in the value of the fund's assets.

**Interfund borrowing and lending —** Pursuant to an exemptive order issued by the U.S. Securities and Exchange Commission, a fund may lend money to, and borrow money from, other funds advised by Capital Research and Management Company or its affiliates. The fund will borrow through the program only when the costs are equal to or lower than the costs of bank loans. The fund will lend through the program only when the returns are higher than those available from an investment in repurchase agreements. Interfund loans and borrowings normally extend overnight, but can have a maximum duration of seven days. Loans may be called on one day's notice. The fund may have to borrow from a bank at a higher interest rate if an interfund loan is called or not renewed. Any delay in repayment to a lending fund could result in a lost investment opportunity or additional borrowing costs.

**Affiliated investment companies —** A fund may purchase shares of certain other investment companies managed by the investment adviser or its affiliates ("Central Funds"). The risks of owning another investment company are similar to the risks of investing directly in the securities in which that investment company invests. Investments in other investment companies could allow the fund to obtain the benefits of a more diversified portfolio than might otherwise be available through direct investments in a particular asset class, and will subject the fund to the risks associated with the particular asset class or asset classes in which an underlying fund invests. However, an investment company may not achieve its investment objective or execute its investment strategy effectively, which may adversely affect the fund's performance. Any investment in another investment company will be consistent with the fund's objective(s) and applicable regulatory limitations. Central Funds do not charge management fees. As a result, the fund does not bear additional management fees when investing in Central Funds, but the fund does bear its proportionate share of Central Fund expenses.

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**Temporary Defensive Strategies —** For temporary defensive purposes, a fund may invest without limitation in cash or cash equivalents, including commercial paper and short-term securities issued by the U.S. government, its agencies and instrumentalities. A larger percentage of such holdings could moderate the fund's investment results in a period of rising market prices. Alternatively, a larger percentage of such holdings could reduce the magnitude of the fund's loss in a period of falling market prices and provide liquidity to make additional investments or to meet redemptions.

\* \* \* \* \* \*

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**Portfolio turnover —** Portfolio changes will be made without regard to the length of time particular investments may have been held, and a fund may engage in frequent and active trading of its portfolio securities. Higher portfolio turnover may involve correspondingly greater transaction costs in the form of dealer spreads, brokerage commissions and other transaction costs on the sale of securities and on reinvestment in other securities. The higher the rate of portfolio turnover, the higher these transaction costs will generally be. In addition, the sale of portfolio securities may result in the realization of net capital gains, which are taxable when distributed to shareholders, unless the shareholder is exempt from taxation or his or her account is tax-favored. These costs and tax effects may adversely affect the fund's returns to shareholders.

Fixed income securities are generally traded on a net basis and usually neither brokerage commissions nor transfer taxes are involved. Transaction costs are usually reflected in the spread between the bid and asked price.

A fund's portfolio turnover rate would equal 100% if each security in the fund's portfolio were replaced once per year. The following table sets forth the portfolio turnover rate for each fund and portfolio turnover rate excluding mortgage dollar roll transactions for certain funds for the fiscal years ended December 31, 2025 and 2024. See "Forward commitment, when issued and delayed delivery transactions" above for more information on mortgage dollar rolls. Variations in turnover rates are due to changes in trading activity during the period.

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| | | | |
|:---|:---|:---|:---|
|  | Fiscal year | **Portfolio**<br>**turnover**<br>**rate** | Portfolio turnover rate (excluding mortgage dollar roll transactions) |
| Capital Group Core Bond ETF | 2025 | 87% | 57% |
| Capital Group Core Bond ETF | 2024 | 354 | 125 |
| Capital Group Core Plus Income ETF | 2025 | 299 | 104 |
| Capital Group Core Plus Income ETF | 2024 | 420 | 83 |
| Capital Group High Yield Bond ETF | 2025<sup>1</sup> | 36 | N/A |
| Capital Group High Yield Bond ETF | 2024 | N/A | N/A |
| Capital Group International Bond ETF (USD-Hedged) | 2025 | 188 | 154 |
| Capital Group International Bond ETF (USD-Hedged) | 2024<sup>2</sup> | 185 | 118 |
| Capital Group Municipal High-Income ETF | 2025 | 15 | N/A |
| Capital Group Municipal High-Income ETF | 2024<sup>2</sup> | 25 | N/A |
| Capital Group Municipal Income ETF | 2025 | 26 | N/A |
| Capital Group Municipal Income ETF | 2024 | 29 | N/A |
| Capital Group Short Duration Income ETF | 2025 | 128 | 32 |
| Capital Group Short Duration Income ETF | 2024 | 192 | 42 |

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| | | | |
|:---|:---|:---|:---|
|  | Fiscal year | **Portfolio**<br>**turnover**<br>**rate** | Portfolio turnover rate (excluding mortgage dollar roll transactions) |
| Capital Group Short Duration Municipal Income ETF | 2025 | 55 | N/A |
| Capital Group Short Duration Municipal Income ETF | 2024 | 54 | N/A |
| Capital Group Ultra Short Income ETF | 2025 | 90 | N/A |
| Capital Group Ultra Short Income ETF | 2024<sup>2</sup> | 26 | N/A |
| Capital Group U.S. Multi-Sector Income ETF | 2025 | 52 | 40 |
| Capital Group U.S. Multi-Sector Income ETF | 2024 | 41 | 39 |

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<sup>1</sup> The portfolio turnover rate provided is for the fiscal period from June 24, 2025, when the fund commenced investment operations, to December 31, 2025.

<sup>2</sup> The portfolio turnover rate provided is for the fiscal period from June 25, 2024, when the fund commenced investment operations, to December 31, 2024.

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**Fund policies**

All percentage limitations in the following fund policies are considered at the time securities are purchased and are based on a fund's net assets unless otherwise indicated. None of the following policies involving a maximum percentage of assets will be considered violated unless the excess occurs immediately after, and is caused by, an acquisition by the fund. In managing the fund, the fund's investment adviser may apply more restrictive policies than those listed below.

**Fundamental policies —** The trust has adopted the following policies with respect to each fund, which may not be changed without approval by holders of a majority of its outstanding shares. Such majority is currently defined in the Investment Company Act of 1940, as amended (the "1940 Act"), as the vote of the lesser of (*a*) 67% or more of the voting securities present at a shareholder meeting, if the holders of more than 50% of the outstanding voting securities are present in person or by proxy, or (*b*) more than 50% of the outstanding voting securities.

Except where otherwise indicated, the following policies apply to each fund (please also see "Additional information about fundamental policies" below):

1. Except as permitted by (*i*) the 1940 Act and the rules and regulations thereunder, or other successor law governing the regulation of registered investment companies, or interpretations or modifications thereof by the U.S. Securities and Exchange Commission ("SEC"), SEC staff or other authority of competent jurisdiction, or (*ii*) exemptive or other relief or permission from the SEC, SEC staff or other authority of competent jurisdiction, the fund may not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Borrow money;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Issue senior securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.Underwrite the securities of other issuers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.Purchase or sell real estate or commodities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e.Make loans; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f.Purchase the securities of any issuer if, as a result of such purchase, the fund's investments would be concentrated in any particular industry; provided, however, that under normal market conditions, Capital Group Ultra Short Income ETF will concentrate in the financials group of industries.

2. The fund may not invest in companies for the purpose of exercising control or management.

3. Solely with respect to Capital Group Municipal High-Income ETF, Capital Group Municipal Income ETF and Capital Group Short Duration Municipal Income ETF, the fund will maintain its status as a tax-exempt fund consistent with (i) the 1940 Act and the rules and regulations thereunder, or other successor law governing the regulation of registered investment companies, or interpretations or modifications thereof by the SEC, SEC staff or other authority of competent jurisdiction, or (ii) exemptive or other relief or permission from the SEC, SEC staff or other authority of competent jurisdiction.

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**Nonfundamental policies —** The following policy may be changed without shareholder approval:

The fund may not acquire securities of open-end investment companies or unit investment trusts registered under the 1940 Act, except to the extent permitted by the 1940 Act or the rules under the 1940 Act. As a matter of policy, however, the fund will not purchase shares of any registered open-end investment company or registered unit investment trust, in reliance on Sections 12(d)(1)(F) or 12(d)(1)(G) of the 1940 Act, at any time the fund has knowledge that its shares are purchased by another investment company investor in reliance on the provisions of Section 12(d)(1)(G).

**Additional information about fundamental policies —** The information below is not part of a fund's fundamental or nonfundamental policies. This information is intended to provide a summary of what is currently required or permitted by the 1940 Act and the rules and regulations thereunder, or by the interpretive guidance thereof by the SEC or SEC staff, for particular fundamental policies of the fund. Information is also provided regarding the fund's current intention with respect to certain investment practices permitted by the 1940 Act.

For purposes of fundamental policy 1a, the fund may borrow money in amounts of up to 33-1/3% of its total assets from banks for any purpose. Additionally, the fund may borrow up to 5% of its total assets from banks or other lenders for temporary purposes (a loan is presumed to be for temporary purposes if it is repaid within 60 days and is not extended or renewed). The percentage limitations in this policy are considered at the time of borrowing and thereafter.

For purposes of fundamental policies 1a and 1e, the fund may borrow money from, or loan money to, other funds managed by Capital Research and Management Company or its affiliates to the extent permitted by applicable law and an exemptive order issued by the SEC.

For purposes of fundamental policy 1b, a senior security does not include any promissory note or evidence of indebtedness if such loan is for temporary purposes only and in an amount not exceeding 5% of the value of the total assets of the fund at the time the loan is made (a loan is presumed to be for temporary purposes if it is repaid within 60 days and is not extended or renewed). Further, the fund is permitted to enter into derivatives and certain other transactions, notwithstanding the prohibitions and restrictions on the issuance of senior securities under the 1940 Act, in accordance with current SEC rules and interpretations.

For purposes of fundamental policy 1c, the policy will not apply to the fund to the extent the fund may be deemed an underwriter within the meaning of the 1933 Act in connection with the purchase and sale of fund portfolio securities in the ordinary course of pursuing its investment objective(s) and strategies.

For purposes of fundamental policy 1e, the fund may not lend more than 33-1/3% of its total assets, provided that this limitation shall not apply to the fund's purchase of debt obligations.

For purposes of fundamental policy 1f, the fund (other than Capital Group Ultra Short Income ETF) may not invest more than 25% of its total assets in the securities of issuers in a particular industry. Capital Group Ultra Short Income ETF may not invest more than 25% of its total assets in the securities of issuers in a particular industry, other than the financials group of industries; provided, however, that Capital Group Ultra Short Income ETF reserves flexibility not to concentrate in the financials group of industries for temporary defensive purposes. This policy does not apply to investments in securities of the U.S. government, its agencies or U.S. government sponsored enterprises or repurchase agreements with respect thereto. For purposes of this policy, with respect to a private activity municipal bond the principal and interest payments of which are derived principally from the assets and revenues of a non-governmental entity, the fund will look to such non-governmental entity to determine the industry to which the investment should be allocated.

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For purposes of fundamental policy 3, Capital Group Municipal High-Income ETF, Capital Group Municipal Income ETF and Capital Group Short Duration Municipal Income ETF will, under normal circumstances, invest at least 80% of their assets in, or derive at least 80% of its income from, securities that are exempt from regular federal income tax. Capital Group Municipal High-Income ETF, Capital Group Municipal Income ETF and Capital Group Short Duration Municipal Income ETF's investments in securities that are or may be subject to the federal alternative minimum tax shall be counted towards this 80% policy.

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**Continuous offering**

The method by which creation units are created and traded may raise certain issues under applicable securities laws. Because new creation units are issued and sold by a fund on an ongoing basis, at any point a "distribution," as such term is used in the 1933 Act, may occur. Broker-dealers and other persons are cautioned that some activities on their part may, depending on the circumstances, result in their being deemed participants in a distribution in a manner that could render them statutory underwriters and subject them to the prospectus delivery requirement and liability provisions of the 1933 Act.

For example, a broker-dealer firm or its client may be deemed a statutory underwriter if it takes creation units after placing an order with the distributor, breaks them down into constituent fund shares and sells such fund shares directly to customers or if it chooses to couple the creation of new fund shares with an active selling effort involving solicitation of secondary market demand for fund shares. A determination of whether one is an underwriter for purposes of the 1933 Act must take into account all the facts and circumstances pertaining to the activities of the broker-dealer or its client in the particular case and the examples mentioned above should not be considered a complete description of all the activities that could lead to a categorization as an underwriter.

Broker-dealer firms should also note that dealers who are not "underwriters" within the meaning of Section 2(a)(11) of the 1933 Act but are effecting transactions in fund shares, whether or not participating in the distribution of fund shares, generally are required to deliver a prospectus. This is because the prospectus delivery exemption in Section 4(a)(3) of the 1933 Act is not available in respect of such transactions as a result of Section 24(d) of the 1940 Act. Firms that incur a prospectus delivery obligation with respect to fund shares are reminded that, pursuant to Rule 153 under the 1933 Act, a prospectus delivery obligation under Section 5(b)(2) of the 1933 Act owed to an exchange member in connection with a sale on the listing exchange is satisfied by the fact that the prospectus is available at the listing exchange upon request. The prospectus delivery mechanism provided in Rule 153 is available only with respect to transactions on an exchange.

The fund's investment adviser or its affiliates (the "Selling Shareholder") may purchase fund shares through a broker-dealer to seed, in whole or in part, the fund as it is launched or thereafter. The Selling Shareholder may also purchase fund shares from broker-dealers or other investors that have previously provided seed capital for the fund when it is launched or otherwise in secondary market transactions. Because the Selling Shareholder may be deemed an affiliate of the fund, the fund's shares are being registered to permit the resale by the Selling Shareholder of these fund shares from time to time after purchase. The fund will not receive any proceeds from the resale by the Selling Shareholder of these fund shares.

The Selling Shareholder intends to sell all or a portion of fund shares owned by it and offered hereby from time to time directly to certain brokers, dealers and investment firms at prevailing market prices at the time of the sale. In doing so, the Selling Shareholder may use ordinary brokerage transactions through brokers or dealers (who may act as agents or principals) or sell directly to one or more purchasers, in privately negotiated transactions or through any other method permitted by applicable law.

The Selling Shareholder and any broker-dealer or agents participating in the distribution of fund shares may be deemed to be "underwriters" in connection with such distribution. In such event, any commissions paid to any such broker-dealer or agent and any profit from the resale of fund shares purchased by them may be deemed to be underwriting commissions or discounts under the 1933 Act. The Selling Shareholder who may be deemed an "underwriter" will be subject to the applicable prospectus delivery requirements of the 1933 Act.

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The Selling Shareholder has informed the fund that it is not a registered broker-dealer and does not have any written or oral agreement or understanding, directly or indirectly, with any person to distribute fund shares. Upon the fund being notified in writing by the Selling Shareholder that any material arrangement has been entered into with a broker-dealer for the sale of fund shares through a block trade, special offering, exchange distribution or secondary distribution or a purchase by a broker or dealer, a supplement to this statement of additional information will be filed, if required, pursuant to Rule 497 under the 1933 Act, disclosing (i) the name of each Selling Shareholder and of the participating broker-dealer(s), (ii) the number of fund shares involved, (iii) the price at which such fund shares were sold, (iv) the commissions paid or discounts or concessions allowed to such broker-dealer(s), where applicable, (v) that such broker-dealer(s) did not conduct any investigation to verify the information set out or incorporated by reference in the fund's prospectus and statement of additional information, and (vi) other facts material to the transaction.

The Selling Shareholder and any other person participating in such distribution will be subject to applicable provisions of the Securities Exchange Act of 1934, as amended (the "1934 Act") and the rules and regulations thereunder, including, without limitation, to the extent applicable, Regulation M of the 1934 Act, which may limit the timing of purchases and sales of any of fund shares by the Selling Shareholder and any other participating person. To the extent applicable, Regulation M may also restrict the ability of any person engaged in the distribution of fund shares to engage in market-making activities with respect to fund shares. All of the foregoing may affect the marketability of the fund shares and the ability of any person or entity to engage in market-making activities with respect to the fund shares. There is a risk that the Selling Shareholder may redeem its investments in the fund or otherwise sell its fund shares to a third party that may redeem. As with redemptions by other large shareholders, such redemptions could have a significant negative impact on the fund and its shares.

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**Management of the trust**

**Board of trustees and officers**

**Independent trustees<sup>1</sup>**

The trust's nominating and governance committee and board select independent trustees with a view toward constituting a board that, as a body, possesses the qualifications, skills, attributes and experience to appropriately oversee the actions of the trust's service providers, decide upon matters of general policy and represent the long-term interests of fund shareholders. In doing so, they consider the qualifications, skills, attributes and experience of the current board members, with a view toward maintaining a board that is diverse in viewpoint, experience, education and skills.

The trust seeks independent trustees who have high ethical standards and the highest levels of integrity and commitment, who have inquiring and independent minds, mature judgment, good communication skills, and other complementary personal qualifications and skills that enable them to function effectively in the context of the trust's board and committee structure and who have the ability and willingness to dedicate sufficient time to effectively fulfill their duties and responsibilities.

Each independent trustee has a significant record of accomplishments in governance, business, not-for-profit organizations, government service, academia, law, accounting or other professions. Although no single list could identify all experience upon which the trust's independent trustees draw in connection with their service, the following table summarizes key experience for each independent trustee. These references to the qualifications, attributes and skills of the trustees are pursuant to the disclosure requirements of the SEC, and shall not be deemed to impose any greater responsibility or liability on any trustee or the board as a whole. Notwithstanding the accomplishments listed below, none of the independent trustees is considered an "expert" within the meaning of the federal securities laws with respect to information in the trust's registration statement.

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| | | | | |
|:---|:---|:---|:---|:---|
| **Name, year of birth**<br>**and position with the funds (year first elected as a trustee<sup>2</sup>)** | **Principal**<br>**occupation(s)**<br>**during the**<br>**past five years** | **Number of**<br>**portfolios**<br>**in fund**<br>**complex**<br>**overseen**<br>**by trustee** | **Other**<br>**directorships<sup>3</sup>**<br>**held by trustee**<br>**during the**<br>**past five years** | Other relevant experience |
| Gina F. Adams, 1958<br>Trustee (2026) | Executive Vice President, General Counsel and Secretary, FedEx Corporation (transportation/logistics company) | 53 | Entergy Corporation | ·Board service for educational, arts and other nonprofit organizations<br> ·LLM, JD |
| Francisco G. Cigarroa, MD, 1957<br>Trustee (2026) | Professor of Surgery, University of Texas Health San Antonio; Trustee, Ford Foundation; Clayton Research Scholar, Clayton Foundation for Biomedical Research | 114 |  | ·Corporate board experience<br> ·Service on boards of community and nonprofit organizations<br> ·MD |
| Nariman Farvardin, 1956<br>Trustee (2026) | President, Stevens Institute of Technology | 114 |  | ·Senior management experience, educational institution<br> ·Corporate board experience<br> ·Professor, electrical and computer engineering<br> ·Service on advisory boards and councils for educational, nonprofit and governmental organizations<br> ·MS, PhD, electrical engineering |
| Jennifer C. Feikin, 1968<br>Trustee (2021) | Independent corporate board member; previously held positions at Google, AOL, 20th Century Fox and McKinsey & Company | 114 | Hertz Global Holdings, Inc. | ·Senior corporate management experience<br> ·Corporate board experience<br> ·Business consulting experience<br> ·Service on advisory and trustee boards for charitable and nonprofit organizations<br> ·JD |

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| | | | | |
|:---|:---|:---|:---|:---|
| **Name, year of birth**<br>**and position with the funds (year first elected as a trustee<sup>2</sup>)** | **Principal**<br>**occupation(s)**<br>**during the**<br>**past five years** | **Number of**<br>**portfolios**<br>**in fund**<br>**complex**<br>**overseen**<br>**by trustee** | **Other**<br>**directorships<sup>3</sup>**<br>**held by trustee**<br>**during the**<br>**past five years** | Other relevant experience |
| Leslie Stone Heisz, 1961<br>Trustee (2021) | Former Managing Director, Lazard (retired, 2010); Director, Kaiser Permanente (California public benefit corporation); former Lecturer, UCLA Anderson School of Management | 114 | Edwards Lifesciences; Ingram Micro Holding Corporation (information technology products and services)<br> Former director of Public Storage, Inc. (until 2024) | ·Senior corporate management experience, investment banking<br> ·Business consulting experience<br> ·Corporate board experience<br> ·Service on advisory and trustee boards for charitable and nonprofit organizations<br> ·MBA |
| Merit E. Janow, 1958<br>Trustee (2026) | Dean Emerita and Professor of Practice, International Economic Law & International Affairs, Columbia University, School of International and Public Affairs | 56 | Aptiv (autonomous and green vehicle technology); Mastercard Incorporated<br> Former director of Trimble Inc. (software, hardware, and services technology) (until 2021) | ·Service with Office of the U.S. Trade Representative and U.S. Department of Justice<br> ·Corporate board experience<br> ·Service on advisory and trustee boards for charitable, educational and nonprofit organizations<br> ·Experience as corporate lawyer<br> ·JD |
| Martin E. Koehler, 1957<br>Trustee (2026) | Independent management consultant | 53 |  | ·Senior management experience<br> ·Corporate board experience<br> ·Service on advisory and trustee boards for charitable and nonprofit organizations<br> ·MBA<br> ·MS, industrial engineering |

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| | | | | |
|:---|:---|:---|:---|:---|
| **Name, year of birth**<br>**and position with the funds (year first elected as a trustee<sup>2</sup>)** | **Principal**<br>**occupation(s)**<br>**during the**<br>**past five years** | **Number of**<br>**portfolios**<br>**in fund**<br>**complex**<br>**overseen**<br>**by trustee** | **Other**<br>**directorships<sup>3</sup>**<br>**held by trustee**<br>**during the**<br>**past five years** | Other relevant experience |
| Benjamin R. Miller, 1967<br>Trustee (2026) | Co-Founder, Agio Ratings Ltd. (fintech advisory); former Director and adviser, Dalpha Capital and Dalpha Capital (UK) Ltd. (digital assets manager) (2020-2022) | 37 |  | ·Senior corporate management experience, investment management<br> ·Investment management experience<br> ·Experience as corporate lawyer<br> ·JD |
| Josette Sheeran, 1954<br>Trustee (2026) | Founder and CEO, Firefly Global Group (geopolitical and business consulting); former President, Canoo, Inc.; former President and CEO, Asia Society | 53 |  | ·Service as chief executive officer<br> ·Senior management experience<br> ·Government service<br> ·Service on advisory councils and commissions for international and governmental organizations<br> ·Service on advisory and trustee boards for charitable and nonprofit organizations<br> ·Service as trustee for public and private entities |
| Margaret Spellings, 1957<br>Trustee (2026) | President and CEO, Bipartisan Policy Center; former President and CEO, Texas 2036 | 114 |  | ·Former U.S. Secretary of Education, U.S. Department of Education<br> ·Former Assistant to the President for Domestic Policy, The White House<br> ·Former senior advisor to the Governor of Texas<br> ·Service on advisory and trustee boards for charitable and nonprofit organizations |

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| | | | | |
|:---|:---|:---|:---|:---|
| **Name, year of birth**<br>**and position with the funds (year first elected as a trustee<sup>2</sup>)** | **Principal**<br>**occupation(s)**<br>**during the**<br>**past five years** | **Number of**<br>**portfolios**<br>**in fund**<br>**complex**<br>**overseen**<br>**by trustee** | **Other**<br>**directorships<sup>3</sup>**<br>**held by trustee**<br>**during the**<br>**past five years** | Other relevant experience |
| Alexandra Trower, 1964<br>Trustee (2026) | Former Executive Vice President, Global Communications and Corporate Officer, The Estée Lauder Companies | 114 |  | ·Service on trustee boards for charitable and nonprofit organizations<br> ·Senior corporate management experience<br> ·Branding |
| Paul S. Williams, 1959<br>Chair of the Board (Independent and Non-Executive) (2026) | Former Partner/Managing Director, Major, Lindsey & Africa (executive recruiting firm) (2005-2018) | 114 | Public Storage, Inc.<br> Former director of Romeo Power, Inc. (manufacturer of batteries for electric vehicles) (until 2022); Compass Minerals, Inc. (producer of salt and specialty fertilizers) (until 2023); Air Transport Services Group, Inc. (aircraft leasing and air cargo transportation) (until 2025) | ·Senior corporate management experience<br> ·Corporate board experience<br> ·Corporate governance experience<br> ·Service on trustee boards for charitable and educational nonprofit organizations<br> ·Securities law expertise<br> ·JD |

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**Interested trustee(s)**<sup>4,5</sup>

Interested trustees have similar qualifications, skills and attributes as the independent trustees. Interested trustees are senior executive officers and/or directors of Capital Research and Management Company or its affiliates. Such management roles with the funds' service providers also permit the interested trustees to make a significant contribution to the fund's board.

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| | | | |
|:---|:---|:---|:---|
| **Name, year of birth**<br>**and position with the funds**<br>**(year first elected as a trustee/officer<sup>2</sup>)** | **Principal**<br>**occupation(s)**<br>**during the**<br>**past five years**<br>**and positions**<br>**held with affiliated**<br>**entities or the**<br>**distributor**<br>**of the funds** | **Number of**<br>**portfolios**<br>**in fund**<br>**complex**<br>**overseen**<br>**by trustee** | **Other**<br>**directorships<sup>3</sup>**<br>**held by trustee**<br>**during the**<br>**past five years** |
| Courtney K. Wolf, 1982<br>President (CGMU 2022) and Trustee (2022) | Partner — Capital Fixed Income Investors, Capital Research and Management Company; Director, The Capital Group Companies, Inc.\* | 37 |  |
| Pramod Atluri, 1976<br>Trustee (2023) | Partner – Capital Fixed Income Investors, Capital Research and Management Company; Partner – Capital Fixed Income Investors, Capital Bank and Trust Company\*; Director, Capital Research and Management Company | 37 |  |

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**Other officers**<sup>5</sup>**

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| | |
|:---|:---|
| **Name, year of birth and**<br>**position with the funds**<br>**(year first elected**<br>**as an officer<sup>2</sup>)** | **Principal occupation(s) during the past five years**<br>**and positions held with affiliated entities**<br>**or the distributor of the funds** |
| Tom Chow, 1966<br>President (CGHY 2025) | Partner – Capital Fixed Income Investors, Capital Research and Management Company |
| Vincent J. Gonzales, 1984<br>President (CGSD 2022) | Partner – Capital Fixed Income Investors, Capital Research and Management Company; Partner – Capital Fixed Income Investors, Capital Bank and Trust Company\* |
| David A. Hoag, 1965<br>President (CGCP 2021) | Partner – Capital Fixed Income Investors, Capital Research and Management Company |
| Steven D. Lotwin, 1969<br>President (CGUI 2024) | Partner – Capital Fixed Income Investors, Capital Research and Management Company; Director, Capital Research and Management Company |
| Vikas Malhotra, 1983<br>President (CGSM 2023) | Vice President - Capital Fixed Income Investors, Capital Research and Management Company |
| Damien J. McCann, 1977<br>President (CGMS 2022) | Partner – Capital Fixed Income Investors, Capital Research and Management Company; Partner – Capital Fixed Income Investors; Capital Bank and Trust Company\* |
| Chitrang Purani, 1977<br>President (CGCB 2023) | Partner – Capital Fixed Income Investors, Capital Research and Management Company |
| Chad M. Rach, 1972 <br>President (CGHM 2024) | Partner – Capital Fixed Income Investors, Capital Research and Management Company |

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| | |
|:---|:---|
| **Name, year of birth and**<br>**position with the funds**<br>**(year first elected**<br>**as an officer<sup>2</sup>)** | **Principal occupation(s) during the past five years**<br>**and positions held with affiliated entities**<br>**or the distributor of the funds** |
| Thomas Reithinger, 1987<br> President (CGIB 2024) | Partner – Capital Fixed Income Investors, Capital Research Company\* |
| Michael W. Stockton, 1967<br>Principal Executive Officer and Executive Vice President (2021) | Senior Vice President – Legal and Compliance Group, Capital Research and Management Company |
| Erik A. Vayntrub, 1984<br>Senior Vice President (2021) | Senior Vice President – Legal and Compliance Group, Capital Research and Management Company; Secretary, Capital Management Services, Inc.\* |
| Courtney R. Taylor, 1975<br>Secretary (2026) | Assistant Vice President – Legal and Compliance Group, Capital Research and Management Company |
| Sandra Chuon, 1972<br>Treasurer (2021) | Vice President – Investment Operations, Capital Research and Management Company |
| Jane Y. Chung, 1974<br>Assistant Secretary (2026) | Associate – Legal and Compliance Group, Capital Research and Management Company |
| Brian C. Janssen, 1972<br>Assistant Treasurer (2025) | Senior Vice President – Legal and Compliance Group, Capital Research and Management Company |

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\*Company affiliated with Capital Research and Management Company.

<sup>1</sup>The term independent trustee refers to a trustee who is not an "interested person" of the fund within the meaning of the 1940 Act.

<sup>2</sup>Trustees and officers of the funds serve until their resignation, removal or retirement.

<sup>3</sup>This includes all directorships/trusteeships that are held by each trustee as a director/trustee of a public company or a registered investment company (other than those in other Capital Group ETFs or other funds managed by Capital Research and Management Company or its affiliates). Unless otherwise noted, all directorships/trusteeships are current.

<sup>4</sup>The term interested trustee refers to a trustee who is an "interested person" of the fund within the meaning of the 1940 Act, on the basis of his or her affiliation with the fund's investment adviser, Capital Research and Management Company, or affiliated entities (including the fund's distributor).

<sup>5</sup>All of the trustees and/or officers listed, with the exception of Tom Chow and Thomas Reithinger, are officers and/or directors/trustees of one or more of the other funds for which Capital Research and Management Company serves as investment adviser.

**The address for all trustees and officers of the fund is 333 South Hope Street, 55th Floor, Los Angeles, California 90071, Attention: Secretary.**

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**Fund shares owned by trustees as of December 31, 2025:**

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| | | |
|:---|:---|:---|
| Name | **Dollar range<sup>\*</sup>**<br>**of fund**<br>**shares owned** | **Aggregate**<br>**dollar range<sup>\*</sup>**<br>**of shares**<br>**owned in**<br>**all funds**<br>**overseen by trustee**<br>**in same family of**<br>**investment companies**<br>**as the funds** |
| Independent trustees | Independent trustees | Independent trustees |
| Gina F. Adams |  | Over $100,000 |
| Francisco G. Cigarroa |  |  |
| Nariman Farvardin |  | Over $100,000 |
| Jennifer C. Feikin |  | Over $100,000 |
| Leslie Stone Heisz | $50001 - $100000 | Over $100,000 |
| Merit E. Janow | Over $100,000 | Over $100,000 |
| Martin E. Koehler |  | Over $100,000 |
| Benjamin R. Miller |  |  |
| Josette Sheeran |  | Over $100,000 |
| Margaret Spellings |  | Over $100,000 |
| Alexandra Trower |  | Over $100,000 |
| Paul S. Williams |  | Over $100,000 |

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| | | |
|:---|:---|:---|
| Name | **Dollar range<sup>\*</sup>**<br>**of fund**<br>**shares owned** | **Aggregate**<br>**dollar range<sup>\*</sup>**<br>**of shares**<br>**owned in**<br>**all funds**<br>**overseen by trustee**<br>**in same family of**<br>**investment companies**<br>**as the funds** |
| Interested trustees | Interested trustees | Interested trustees |
| Pramod Atluri | Over $100,000 | Over $100,000 |
| Courtney K. Wolf | Over $100,000 | Over $100,000 |

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<sup>\*</sup>Ownership disclosure is made using the following ranges: None; $1 – $10,000; $10,001 – $50,000; $50,001 – $100,000; and Over $100,000.

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**Trustee compensation —** No compensation is paid by the trust to any officer or trustee who is a director, officer or employee of the investment adviser or its affiliates. Except for the independent trustees listed in the "Board of trustees and officers — Independent trustees" table under the "Management of the trust" section in this statement of additional information, all other officers and trustees of the trust are directors, officers or employees of the investment adviser or its affiliates. The board typically meets either individually or jointly with the boards of one or more other such funds with substantially overlapping board membership (in each case referred to as a "board cluster"). On behalf of the trust, the investment adviser typically pays each independent trustee an annual retainer fee based primarily on the total number of board clusters which that independent trustee serves. Board and committee chairs receive additional fees for their services.

The trust and the other funds served by each independent trustee, or the investment adviser of such funds, as applicable, each pay a portion of these fees.

No pension or retirement benefits are accrued as part of trust expenses. The trust also reimburses certain expenses of the independent trustees.

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**Trustee compensation earned during the fiscal year ended December 31, 2025:**

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| | | |
|:---|:---|:---|
| Name | **Aggregate compensation**<br>**from the funds**<br>**offered by the trust** | **Total compensation**<br>**from all funds managed by**<br>**Capital Research and**<br>**Management**<br>**Company or its affiliates** |
| Gina F. Adams<br> (elected January 1, 2026) |  | $346000 |
| Vanessa C. L. Chang<br> (service ended December 31, 2025) | $35455 | 472000 |
| Francisco G. Cigarroa<br> (elected January 1, 2026) |  | 362000 |
| Nariman Farvardin<br> (elected January 1, 2026) |  | 552000 |
| Jennifer C. Feikin | 34684 | 474500 |
| Pablo R. González Guajardo<br> (service ended December 31, 2025) | 34684 | 622000 |
| Leslie Stone Heisz | 34684 | 474500 |
| Merit Janow<br> (elected January 1, 2026) |  | 580000 |
| William D. Jones<br> (service ended December 31, 2025) | 33913 | 641500 |
| Martin E. Koehler<br> (elected January 1, 2026) |  | 340000 |
| Benjamin R. Miller<br> (elected January 1, 2026) |  |  |
| Josette Sheeran<br> (elected January 1, 2026) |  | 406000 |
| Margaret Spellings<br> (elected January 1, 2026) |  | 542000 |
| Alexandra Trower<br> (elected January 1, 2026) |  | 372000 |
| Paul S. Williams<br> (elected January 1, 2026) |  | 372000 |

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**Trust organization and the board of trustees —** The trust, an open-end management investment company, was organized as a Delaware statutory trust on January 12, 2021. All trust operations are supervised by its board of trustees which meets periodically and performs duties required by applicable state and federal laws.

Delaware law charges trustees with the duty of managing the business affairs of the trust. The trust's trustees are considered to be fiduciaries of the trust and owe duties of care and loyalty to the trust and its shareholders.

The trust consists of a number of funds, each of which is a management investment company and operates as an exchange-traded fund registered with the SEC under the 1940 Act. The offering of the fund shares is registered under the 1933 Act. A fund has separate assets and liabilities, and invests in separate investment portfolios. The board of trustees may create additional funds in the future. Income, direct liabilities and direct operating expenses of a fund will be allocated directly to that fund

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and general liabilities and expenses of the trust will be allocated among the funds in proportion to the total net assets of each fund.

Each fund has one class of shares. Each share represents an interest in the same investment portfolio and has pro rata rights as to voting, redemption, dividends and liquidation. The trustees have the authority to establish new series and classes of shares, and to split or combine outstanding shares into a greater or lesser number, without shareholder approval.

The trust does not hold annual meetings of shareholders. However, significant matters that require shareholder approval, such as certain elections of board members or a change in a fundamental investment policy, will be presented to shareholders at a meeting called for such purpose. Shareholders have one vote per share owned.

In accordance with the trust's declaration of trust, the board may, without shareholder approval (unless such shareholder approval is required by the declaration of trust or applicable law, including the 1940 Act), authorize certain funds to merge, reorganize, consolidate, sell all or substantially all of their assets, or take other similar actions with, to or into another fund. The fund may be terminated by a majority vote of the board with written notice to the shareholders of the fund. Although the shares are not automatically redeemable upon the occurrence of any specific event, the trust's declaration of trust provides that the board will have the unrestricted power to alter the number of shares in a creation unit. Therefore, in the event of a termination of the trust or a fund, the board, in its sole discretion, could determine to permit the shares to be redeemable in aggregations smaller than creation units or to be individually redeemable. In such circumstance, the trust or the fund may make redemptions in-kind, for cash or for a combination of cash or securities. Further, in the event of a termination of the fund, the fund might elect to pay cash redemptions.

The trust's declaration of trust and by-laws, as well as separate indemnification agreements with independent trustees, provide in effect that, subject to certain conditions, the trust will indemnify its officers and trustees against liabilities or expenses actually and reasonably incurred by them relating to their service to the fund. However, trustees are not protected from liability by reason of their willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of their office.

**Removal of trustees by shareholders —** At any meeting of shareholders, duly called and at which a quorum is present, shareholders may, by the affirmative vote of the holders of two-thirds of the votes entitled to be cast, remove any trustee from office and may elect a successor or successors to fill any resulting vacancies for the unexpired terms of removed trustees. In addition, the trustees of the trust will promptly call a meeting of shareholders for the purpose of voting upon the removal of any trustees when requested in writing to do so by the record holders of at least 10% of the outstanding shares.

**Leadership structure —** The board's chair is currently an independent trustee who is not an "interested person" of the trust within the meaning of the 1940 Act. The board has determined that an independent chair facilitates oversight and enhances the effectiveness of the board. The independent chair's duties include, without limitation, generally presiding at meetings of the board, approving board meeting schedules and agendas, leading meetings of the independent trustees in executive session, facilitating communication with committee chairs, and serving as the principal independent trustee contact for trust management and counsel to the independent trustees and the trust.

**Risk oversight —** Day-to-day management of the trust, including risk management, is the responsibility of the trust's contractual service providers, including the trust's investment adviser, distributor and transfer agent. Each of these entities is responsible for specific portions of the trust's operations, including the processes and associated risks relating to the funds' investments, integrity of cash and security movements, financial reporting, operations and compliance. The board of trustees oversees

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the service providers' discharge of their responsibilities, including the processes they use to manage relevant risks. In that regard, the board receives reports regarding the operations of the trust's service providers, including risks. For example, the board receives reports from investment professionals regarding risks related to the funds' investments and trading. The board also receives compliance reports from the trust's and the investment adviser's chief compliance officers addressing certain areas of risk.

Committees of the trust's board, which are comprised of independent board members, none of whom is an "interested person" of the trust within the meaning of the 1940 Act, as well as joint committees of independent board members of funds managed by Capital Research and Management Company, also explore risk management procedures in particular areas and then report back to the full board. For example, the trust's audit committee oversees the processes and certain attendant risks relating to financial reporting, valuation of trust assets, and related controls.

Not all risks that may affect the trust can be identified or processes and controls developed to eliminate or mitigate their effect. Moreover, it is necessary to bear certain risks (such as investment-related risks) to achieve the trust's objectives. As a result of the foregoing and other factors, the ability of the trust's service providers to eliminate or mitigate risks is subject to limitations.

**Committees of the board of trustees —** The trust has an audit committee comprised of Gina F. Adams, Francisco G. Cigarroa, Leslie Stone Heisz, Martin E. Koehler, Benjamin R. Miller, Josette Sheeran and Paul S. Williams. The committee provides oversight regarding the trust's accounting and financial reporting policies and practices, its internal controls and the internal controls of the trust's principal service providers. The committee acts as a liaison between the trust's independent registered public accounting firm and the full board of trustees. The audit committee held five meetings during the 2025 fiscal year.

The trust has a contracts committee comprised of all of its independent board members. The committee's principal function is to request, review and consider the information deemed necessary to evaluate the terms of the form of Authorized Participant Agreement and certain agreements between the trust and its investment adviser or the investment adviser's affiliates, such as the Investment Advisory and Service Agreement, Principal Underwriting Agreement and Plan of Distribution adopted pursuant to rule 12b-1 under the 1940 Act, that the trust may enter into, renew or continue, and to make its recommendations to the full board of trustees on these matters. The contracts committee held one meeting during the 2025 fiscal year.

The trust has a nominating and governance committee comprised of Nariman Farvardin, Jennifer C. Feikin, Merit E. Janow, Margaret Spellings and Alexandra Trower. 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. The committee also coordinates annual self-assessments of the board and evaluates, selects and nominates independent trustee candidates to the full board of trustees. While the committee normally is able to identify from its own and other 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 trust, addressed to the trust'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 committee. The nominating and governance committee held two meetings during the 2025 fiscal year.

**Proxy voting procedures and principles —** The funds' investment adviser, in consultation with the board, has adopted Proxy Voting Procedures and Principles (the "Principles") with respect to voting proxies of securities held by the funds and other funds advised by the investment adviser or its

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affiliates. The Principles are reasonably designed to ensure that proxies are voted solely in accordance with the financial interest of the clients of the investment adviser or its affiliates and the shareholders of the funds advised or managed by the investment adviser or its affiliates. The complete text of the Principles is available at capitalgroup.com/etf. Final voting authority is held by a committee of the appropriate equity investment division of the investment adviser under authority delegated by the fund's board. The boards of funds advised by Capital Research and Management Company and its affiliates have established a Joint Proxy Committee ("JPC") composed of independent board members who serve as representatives from each applicable fund board. The JPC's role is to facilitate appropriate oversight of the proxy voting process and provide valuable input on corporate governance and related matters.

The Principles provide an important framework for analysis and decision-making by all funds. However, they are not exhaustive and do not address all potential issues. The Principles provide a certain amount of flexibility so that all relevant facts and circumstances can be considered in connection with every vote. As a result, each proxy received is voted on a case-by-case basis considering the specific circumstances of each proposal. The voting process reflects the funds' understanding of the company's business, its management and its relationship with shareholders over time. In all cases, long-term value creation and the investment objectives and policies of the funds managed by the investment adviser remain the focus.

The investment adviser seeks to vote all U.S. proxies. Proxies for companies outside the United States are also voted where there is sufficient time and information available, taking into account distinct market practices, regulations and laws, and types of proposals presented in each country. Where there is insufficient proxy and meeting agenda information available, the investment adviser will generally vote against such proposals in the interest of encouraging improved disclosure for investors. The investment adviser may not exercise its voting authority if voting would impose costs on clients, including opportunity costs. For example, certain regulators have granted investment limit relief to the investment adviser and its affiliates, conditioned upon limiting voting power to specific voting ceilings. To comply with these voting ceilings, the investment adviser will scale back its votes across all funds and accounts it manages on a pro rata basis based on assets. In addition, certain countries impose restrictions on the ability of shareholders to sell shares during the proxy solicitation period. The investment adviser may choose, due to liquidity issues, not to expose the funds and accounts it manages to such restrictions and may not vote some (or all) shares. Finally, the investment adviser may determine not to recall securities on loan to exercise its voting rights when it determines that the cost of doing so would exceed the benefits to clients or that the vote would not have a material impact on the investment. Proxies with respect to securities on loan through client-directed lending programs are not available to vote and therefore are not voted.

After a proxy statement is received, the investment adviser's stewardship and engagement team prepares a summary of the proposals contained in the proxy statement.

Investment analysts are generally responsible for making voting recommendations for their investment division on significant votes that relate to companies in their coverage areas. Analysts also have the opportunity to review initial recommendations made by the investment adviser's stewardship and engagement team. Depending on the vote recommendation, a second opinion may be made by a proxy coordinator (an investment professional with experience in corporate governance and proxy voting matters) within the appropriate investment division, based on knowledge of the Principles and familiarity with proxy-related issues. Each of the investment adviser's equity investment divisions has its own proxy voting committee, which is made up of investment professionals within each division. Each division's proxy voting committee retains final authority for voting decisions made by such division. In cases where a fund is co-managed and a security is held by more than one of the investment adviser's equity investment divisions, the divisions may develop different voting recommendations for individual ballot proposals. If this occurs, and if permitted by local market conventions, the fund's position will generally be voted proportionally by divisional holding, according to their respective decisions.

Capital Group Fixed Income ETF Trust — Page 64

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Otherwise, the outcome will be determined by the equity investment division or divisions with the larger position in the security as of the record date for the shareholder meeting.

In addition to its proprietary proxy voting, governance and executive compensation research, Capital Research and Management Company may utilize research provided by third-party advisory firms on a case-by-case basis. It does not, as a policy, follow the voting recommendations provided by these firms. It periodically assesses the information provided by the advisory firms and reports to the applicable governance committees that provide oversight of the application of the Principles.

From time to time the investment adviser may vote proxies issued by, or on proposals sponsored or publicly supported by *(a)* a client with substantial assets managed by the investment adviser or its affiliates, *(b)* an entity with a significant business relationship with The Capital Group Companies, Inc. or its affiliates (as defined herein), or *(c)* a company with a director of a Capital Group ETF or an American Fund on its board (each referred to as an "Interested Party"). Other persons or entities may also be deemed an Interested Party if facts or circumstances appear to give rise to a potential conflict.

The investment adviser has developed procedures to identify and address instances when a vote could appear to be influenced by such a relationship. Each equity investment division of the investment adviser has established a Special Review Committee ("SRC") of senior investment professionals and legal and compliance professionals with oversight of potentially conflicted matters.

If a potential conflict is identified according to the procedure above, the SRC will take appropriate steps to address the conflict of interest. These steps may include engaging an independent third party to review the proxy and using the Principles to provide an independent voting recommendation to the investment adviser for vote execution. The investment adviser will generally follow the third party's recommendation, except when it believes the recommendation is inconsistent with the investment adviser's fiduciary duty to its clients. Occasionally, it may not be feasible to engage the third party to review the matter due to compressed timeframes or other operational issues. In this case, the SRC will take appropriate steps to address the conflict of interest, including reviewing the proxy after being provided with a summary of any relevant communications with the Interested Party, the rationale for the voting decision, information on the organization's relationship with the Interested Party and any other pertinent information.

If the fund has a shareholder meeting, the distributor will vote the fund shares for which an Authorized Participant (as defined below) or other entity providing market making services (each, a "proxy grantor") is deemed a beneficial owner under Rule 16a-1(a)(2) of the 1934 Act pursuant to the terms of an irrevocable proxy granted by the proxy grantor to the distributor. In such case, the distributor will vote the fund shares for which a proxy grantor is deemed a beneficial owner in the same proportion as the votes of the other shareholders of the fund.

Information regarding how the fund voted proxies relating to portfolio securities during the 12-month period ended June 30 of each year will be available on or about September 1 of such year (*a*) without charge, upon request by calling (800) 421-4225, (*b*) on the capitalgroup.com/etf website and (*c*) on the SEC's website at sec.gov.

The following summary sets forth the general positions of the investment adviser on various proposals. A copy of the full Principles is available upon request, free of charge, by calling the fund or visiting the Capital Group website.

**Director matters —** The election of a company's slate of nominees for director generally is supported. Votes may be withheld for some or all of the nominees if this is determined to be in the best interest of shareholders or if, in the opinion of the investment adviser, such nominee has not fulfilled his or her fiduciary duty. In making this determination, the investment adviser

Capital Group Fixed Income ETF Trust — Page 65

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considers, among other things, a nominee's potential conflicts of interest, track record (whether in the current board seat or in previous executive or director roles) with respect to shareholder protection and value creation as well as their capacity for full engagement on board matters. The investment adviser generally supports a breadth of experience and perspectives among board members, and the separation of the chairman and CEO positions.

**Governance provisions —** Proposals to declassify a board (elect all directors annually) generally are supported based on the belief that this increases the directors' sense of accountability to shareholders. Proposals for cumulative voting generally are supported in order to promote management and board accountability and an opportunity for leadership change. Proposals designed to make director elections more meaningful, either by requiring a majority vote or by requiring any director receiving more withhold votes than affirmative votes to tender his or her resignation, generally are supported.

**Shareholder rights —** Proposals to repeal an existing poison pill generally are supported. (There may be certain circumstances, however, when a proxy voting committee of a fund or an investment division of the investment adviser believes that a company needs to maintain anti-takeover protection.) Proposals to eliminate the right of shareholders to act by written consent or to take away a shareholder's right to call a special meeting typically are not supported.

**Compensation and benefit plans —** Equity incentive plans are complicated, and many factors are considered in evaluating a plan. Each plan is evaluated based on protecting shareholder interests and a knowledge of the company and its management. Considerations include the pricing (or repricing) of options awarded under the plan and the impact of dilution on existing shareholders from past and future equity awards. Compensation packages should be structured to attract, motivate and retain existing employees and qualified directors; in addition, they should be aligned with the long-term success of the company and the enhancement of shareholder value.

**Routine matters —** The ratification of auditors, procedural matters relating to the annual meeting and changes to company name are examples of items considered routine. Such items generally are voted in favor of management's recommendations unless circumstances indicate otherwise.

**Shareholder proposals on environmental and social issues —** The investment adviser believes environmental and social issues present investment risks and opportunities that can shape a company's long-term financial sustainability. Shareholder proposals, including those relating to social and environmental issues, are evaluated in terms of their materiality to the company and its ability to generate long-term value in light of the company's business model specific operating context. The investment adviser generally supports transparency and standardized disclosure, particularly that which leverages existing regulatory reporting or industry best practices. With respect to environmental matters, this includes disclosures aligned with industry standards and reporting on sustainability issues that are material to investment analysis. With respect to social matters, the investment adviser encourages companies to disclose the composition of the workforce in a regionally appropriate manner. The investment adviser supports relevant reporting and disclosure that is consistent with broadly applicable standards.

**Additional information about the trust**

**Book-Entry only system —** Shares of a fund are represented by securities registered in the name of the Depository Trust Company ("DTC") or its nominee and deposited with, or on behalf of, DTC. DTC acts as securities depositary for the fund shares.

Capital Group Fixed Income ETF Trust — Page 66

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DTC, a limited-purpose trust company, was created to hold securities of its participants ("DTC Participants") and to facilitate the clearance and settlement of securities transactions among the DTC Participants in such securities through electronic book-entry changes in accounts of the DTC Participants, thereby eliminating the need for physical movement of securities certificates. Access to the DTC system is available to entities, such as banks, brokers, dealers and trust companies, that clear through or maintain a custodial relationship with a DTC Participant, either directly or indirectly (the "indirect participants"). Beneficial ownership of shares is limited to DTC Participants, the indirect participants and persons holding interests through DTC Participants and indirect participants.

Ownership of beneficial interests in shares (owners of such beneficial interests are referred to herein as "the beneficial owners") is shown on, and the transfer of ownership is effected only through, records maintained by DTC (with respect to DTC Participants) and on the records of DTC Participants (with respect to the indirect participants and beneficial owners that are not DTC Participants). The beneficial owners will receive from or through the DTC Participant a written confirmation relating to their purchase of shares. The laws of some jurisdictions may require that certain purchasers of securities take physical delivery of such securities in definitive form. Such laws may impair the ability of certain investors to acquire beneficial interests in shares of the fund.

Conveyance of all notices, statements and other communications to the beneficial owners is effected as follows. DTC will make available to the fund upon request and for a fee to be charged to the fund a listing of the shares of the fund held by each DTC Participant. The fund shall inquire of each such DTC Participant as to the number of the beneficial owners holding shares, directly or indirectly, through such DTC Participant. The fund shall provide each such DTC Participant with copies of such notice, statement or other communication in such form, number and at such place as such DTC Participant may reasonably request, in order that such notice, statement or communication may be transmitted by such DTC Participant, directly or indirectly, to such beneficial owners. In addition, the fund shall pay to each such DTC Participant a fair and reasonable amount as reimbursement for the expenses attendant to such transmittal, all subject to applicable statutory and regulatory requirements.

Share distributions shall be made to DTC or its nominee, Cede & Co., as the registered holder of all shares of the fund. DTC or its nominee, upon receipt of any such distributions, shall credit immediately DTC Participants' accounts with payments in amounts proportionate to their respective beneficial interests in shares of the fund as shown on the records of DTC or its nominee. Payments by DTC Participants to the indirect participants and the beneficial owners of shares held through such DTC Participants will be governed by standing instructions and customary practices, as is now the case with securities held for the accounts of customers in bearer form or registered in a "street name," and will be the responsibility of such DTC Participants.

The funds have no responsibility or liability for any aspect of the records relating to or notices to the beneficial owners, or payments made on account of beneficial ownership interests in such shares, or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests, or for any other aspect of the relationship between DTC and the DTC Participants or the relationship between such DTC Participants and the indirect participants and the beneficial owners owning through such DTC Participants. DTC may decide to discontinue providing its service with respect to shares of the fund at any time by giving reasonable notice to the fund and discharging its responsibilities with respect thereto under applicable law. Under such circumstances, the fund shall take action to find a replacement for DTC to perform its functions at a comparable cost.

Capital Group Fixed Income ETF Trust — Page 67

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**Principal fund shareholders —** Although the fund does not have information concerning the beneficial ownership of shares held in the names of DTC participants (as defined above), as of February 1, 2026, the name and percentage ownership of each DTC participant that owned of record 5% or more of the outstanding shares of the fund were as follows:

#### Capital Group Core Bond ETF

---

| | | |
|:---|:---|:---|
| Name and address | Ownership | Ownership percentage |
| LPL Financial | Record | 18.83% |
| San Diego, CA |  |  |
| State Street Bank | Record | 17.24% |
| Boston, MA |  |  |
| Charles Schwab & Co., Inc. | Record | 16.23% |
| San Francisco, CA |  |  |
| National Financial Services, LLC | Record | 12.42% |
| Jersey City, NJ |  |  |
| Pershing, LLC | Record | 9.36% |
| Jersey City, NJ |  |  |
| Morgan Stanley Smith Barney, LLC | Record | 6.06% |
| New York, N.Y. |  |  |

---

**Capital Group Core Plus Income ETF**

---

| | | |
|:---|:---|:---|
| Name and address | Ownership | Ownership percentage |
| Charles Schwab & Co., Inc. | Record | 17.82% |
| San Francisco, CA |  |  |
| State Street Bank | Record | 15.16% |
| Boston, MA |  |  |
| National Financial Services, LLC | Record | 11.24% |
| Jersey City, NJ |  |  |
| LPL Financial | Record | 10.58% |
| San Diego, CA |  |  |
| Morgan Stanley Smith Barney, LLC | Record | 7.85% |
| New York, N.Y. |  |  |
| Wells Fargo Clearing Services, LLC | Record | 7.49% |
| St. Louis, MO |  |  |
| Pershing, LLC | Record | 7.15% |
| Jersey City, NJ |  |  |
| Edward D Jones & Co | Record | 6.69% |
| St Louis, MO |  |  |

---

Capital Group Fixed Income ETF Trust — Page 68

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**Capital Group High Yield Bond ETF**

---

| | | |
|:---|:---|:---|
| Name and address | Ownership | Ownership percentage |
| JP Morgan Chase Bank NA | Record | 76.16% |
| Brooklyn, NY |  |  |
| Charles Schwab & Co., Inc. | Record | 11.42% |
| San Francisco, CA |  |  |
| National Financial Services, LLC | Record | 5.41% |
| Jersey City, NJ |  |  |

---

**Capital Group International Bond ETF (USD-Hedged)**

---

| | | |
|:---|:---|:---|
| Name and address | Ownership | Ownership percentage |
| Charles Schwab & Co., Inc. | Record | 32.49% |
| San Francisco, CA |  |  |
| National Financial Services, LLC | Record | 30.08% |
| Jersey City, NJ |  |  |
| Wells Fargo Clearing Services, LLC | Record | 19.24% |
| St. Louis, MO |  |  |
| Pershing, LLC | Record | 5.02% |
| Jersey City, NJ |  |  |

---

Capital Group Fixed Income ETF Trust — Page 69

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**Capital Group Municipal High-Income ETF**

---

| | | |
|:---|:---|:---|
| Name and address | Ownership | Ownership percentage |
| JP Morgan Chase Bank NA | Record | 57.70% |
| Brooklyn, NY |  |  |
| National Financial Services, LLC | Record | 13.77% |
| Jersey City, NJ |  |  |
| Pershing, LLC | Record | 6.32% |
| Jersey City, NJ |  |  |
| Charles Schwab & Co., Inc. | Record | 5.71% |
| San Francisco, CA |  |  |
| LPL Financial | Record | 5.11% |
| San Diego, CA |  |  |

---

**Capital Group Municipal Income ETF**

---

| | | |
|:---|:---|:---|
| Name and address | Ownership | Ownership percentage |
| JP Morgan Chase Bank NA | Record | 25.27% |
| Brooklyn, NY |  |  |
| National Financial Services, LLC | Record | 13.64% |
| Jersey City, NJ |  |  |
| Pershing, LLC | Record | 11.35% |
| Jersey City, NJ |  |  |
| Charles Schwab & Co., Inc. | Record | 9.94% |
| San Francisco, CA |  |  |
| Edward D Jones & Co | Record | 6.63% |
| St Louis, MO |  |  |
| LPL Financial | Record | 6.52% |
| San Diego, CA |  |  |
| Morgan Stanley Smith Barney, LLC | Record | 6.19% |
| New York, N.Y. |  |  |

---

Capital Group Fixed Income ETF Trust — Page 70

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**Capital Group Short Duration Income ETF**

---

| | | |
|:---|:---|:---|
| Name and address | Ownership | Ownership percentage |
| Charles Schwab & Co., Inc. | Record | 15.99% |
| San Francisco, CA |  |  |
| Pershing, LLC | Record | 14.06% |
| Jersey City, NJ |  |  |
| National Financial Services, LLC | Record | 14.06% |
| Jersey City, NJ |  |  |
| LPL Financial | Record | 11.17% |
| San Diego, CA |  |  |
| Edward D Jones & Co | Record | 10.28% |
| St Louis, MO |  |  |
| Morgan Stanley Smith Barney, LLC | Record | 10.08% |
| New York, N.Y. |  |  |
| Raymond James | Record | 6.00% |
| St. Petersburg, FL |  |  |

---

**Capital Group Short Duration Municipal Income ETF**

---

| | | |
|:---|:---|:---|
| Name and address | Ownership | Ownership percentage |
| JP Morgan Chase Bank NA | Record | 33.70% |
| Brooklyn, NY |  |  |
| National Financial Services, LLC | Record | 13.10% |
| Jersey City, NJ |  |  |
| Charles Schwab & Co., Inc. | Record | 10.94% |
| San Francisco, CA |  |  |
| Morgan Stanley Smith Barney, LLC | Record | 9.40% |
| New York, N.Y. |  |  |
| Pershing, LLC | Record | 6.97% |
| Jersey City, NJ |  |  |
| LPL Financial | Record | 6.01% |
| San Diego, CA |  |  |

---

Capital Group Fixed Income ETF Trust — Page 71

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**Capital Group Ultra Short Income ETF**

---

| | | |
|:---|:---|:---|
| Name and address | Ownership | Ownership percentage |
| Charles Schwab & Co., Inc. | Record | 29.71% |
| San Francisco, CA |  |  |
| National Financial Services, LLC | Record | 26.65% |
| Jersey City, NJ |  |  |
| LPL Financial | Record | 19.52% |
| San Diego, CA |  |  |
| Pershing, LLC | Record | 8.28% |
| Jersey City, NJ |  |  |
| Raymond James | Record | 5.22% |
| St. Petersburg, FL |  |  |

---

**Capital Group U.S. Multi-Sector Income ETF**

---

| | | |
|:---|:---|:---|
| Name and address | Ownership | Ownership percentage |
| Charles Schwab & Co., Inc. | Record | 20.39% |
| San Francisco, CA |  |  |
| LPL Financial | Record | 15.72% |
| San Diego, CA |  |  |
| National Financial Services, LLC | Record | 15.06% |
| Jersey City, NJ |  |  |
| Pershing, LLC | Record | 8.16% |
| Jersey City, NJ |  |  |
| Wells Fargo Clearing Services, LLC | Record | 6.80% |
| St. Louis, MO |  |  |
| Edward D Jones & Co | Record | 6.72% |
| St Louis, MO |  |  |
| Raymond James | Record | 6.53% |
| St. Petersburg, FL |  |  |
| Morgan Stanley Smith Barney, LLC | Record | 5.85% |
| New York, N.Y. |  |  |
| UBS Financial Services Inc | Record | 5.01% |
| Weehawken, NJ |  |  |

---

Capital Group Fixed Income ETF Trust — Page 72

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From time to time, Capital Group (as defined in this section, *Management of the fund*, below) may sponsor and/or manage a fund in which an affiliate invests seed capital or otherwise purchases fund shares. Such investments may raise potential conflicts of interest because Capital Group, as an investor in the fund, may possess material information about the fund that may not be available to other fund investors. This informational advantage could be perceived as enabling Capital Group to invest or redeem capital in a manner that conflicts with the interests of other fund investors and/or benefits Capital Group. In order to mitigate such conflicts, the investment adviser employs processes that govern the investment and redemption by Capital Group of investments in the fund. These processes include specific parameters that govern the timing and extent of the investment and redemption of seed capital, which may be set according to one or more objective factors expressed in terms of timing, asset levels, primary or secondary market liquidity or other criteria approved by the investment adviser. In extraordinary circumstances and subject to certain conditions, the investment adviser will have the authority to modify the application of these processes to a particular seed investment after the investment has been made.

**Investment adviser —** Capital Research and Management Company, the trust's investment adviser, founded in 1931, maintains research facilities in the United States and abroad (Geneva, Hong Kong, London, Los Angeles, Mumbai, New York, San Francisco, Singapore, Tokyo, Toronto and Washington, D.C.). These facilities are staffed with experienced investment professionals. The investment adviser is located at 333 South Hope Street, Los Angeles, CA 90071. It is a wholly owned subsidiary of The Capital Group Companies, Inc., a holding company for several investment management subsidiaries. Capital Research and Management Company manages equity assets through three equity investment divisions and fixed income assets through its fixed income investment division, Capital Fixed Income Investors. The three equity investment divisions — Capital World Investors, Capital Research Global Investors and Capital International Investors — make investment decisions independently of one another. Portfolio managers in Capital International Investors rely on a research team that also provides investment services to institutional clients and other accounts advised by affiliates of Capital Research and Management Company. The investment adviser, which is deemed under the Commodity Exchange Act (the "CEA") to be the operator of certain funds, has claimed an exclusion from the definition of the term commodity pool operator under the CEA with respect to each fund and, therefore, is not subject to registration or regulation as such under the CEA with respect to the funds.

The investment adviser has adopted policies and procedures that address issues that may arise as a result of an investment professional's management of the funds and other funds and accounts. Potential issues could involve allocation of investment opportunities and trades among funds and accounts, use of information regarding the timing of fund trades, investment professional compensation and voting relating to portfolio securities. The investment adviser believes that its policies and procedures are reasonably designed to address these issues.

**Compensation of investment professionals —** As described in the prospectus, each fund's assets are managed by a team of portfolio managers. A fund's portfolio managers will work together to oversee the fund's entire portfolio.

Portfolio managers and investment analysts are paid competitive salaries by Capital Research and Management Company. In addition, they may receive bonuses based on their individual portfolio results. Investment professionals also may participate in profit-sharing plans. The relative mix of compensation represented by bonuses, salary and profit-sharing plans will vary depending on the individual's portfolio results, contributions to the organization and other factors.

To encourage a long-term focus, bonuses based on investment results are calculated by comparing total investment returns to relevant benchmarks over the most recent one-, three-, five- and eight-year periods, with increasing weight placed on each succeeding measurement period. For portfolio managers, benchmarks may include measures of the marketplaces in which the fund invests and measures of the results of comparable mutual funds. For investment analysts, benchmarks may include

Capital Group Fixed Income ETF Trust — Page 73

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relevant market measures and appropriate industry or sector indexes reflecting their areas of expertise. Capital Research and Management Company makes periodic subjective assessments of analysts' contributions to the investment process and this is an element of their overall compensation. The investment results of each of the fund's portfolio managers may be measured against one or more benchmarks, depending on his or her investment focus, such as:

**Capital Group Core Bond ETF** — Bloomberg U.S. Aggregate Index and a peer group average consisting of funds that disclose investment objectives and strategies comparable to those of the fund;

**Capital Group Core Plus Income ETF** — Bloomberg U.S. Aggregate Index and a peer group average consisting of funds that disclose investment objectives and strategies comparable to those of the fund;

**Capital Group High Yield Bond ETF** - Bloomberg U.S. Corporate High Yield 2% Issuer Cap Index and a peer group average consisting of funds that disclose investment objectives and strategies comparable to those of the fund;

**Capital Group International Bond ETF (USD-Hedged)** — Bloomberg Global Aggregate ex-USD (Hedged to USD) Index and a peer group average consisting of funds that disclose investment objectives and strategies comparable to those of the fund;

**Capital Group Municipal High-Income ETF** — 70% Bloomberg Muni HY / 20% Bloomberg Muni BBB / 10% Bloomberg Muni Bond Index and a peer group average consisting of funds that disclose investment objectives and strategies comparable to those of the fund;

**Capital Group Municipal Income ETF** — Bloomberg 85% Muni High Grade (1-17 year) / 15% Muni High Yield (1-17 year) Index and a peer group average consisting of funds that disclose investment objectives and strategies comparable to those of the fund;

**Capital Group Short Duration Income ETF** — Bloomberg U.S. Government/Credit 1-3 years Index and a peer group average consisting of funds that disclose investment objectives and strategies comparable to those of the fund;

**Capital Group Short Duration Municipal Income ETF** — Bloomberg Municipal Short 1-5 Yr Index and a peer group average consisting of funds that disclose investment objectives and strategies comparable to those of the fund;

**Capital Group Ultra Short Income ETF** — ICE BofA 3-Month U.S. Treasury Bill Index and a peer group average consisting of funds that disclose investment objectives and strategies comparable to those of the fund; and

**Capital Group U.S. Multi-Sector Income ETF** — 50% Bloomberg High Yield Index 2% Issuer Cap / 30% US Corp / 16% CMBS Non-Agency / 4% US ABS ex AAA Index and a peer group average consisting of funds that disclose investment objectives and strategies comparable to those of the fund.

From time to time, Capital Research and Management Company may adjust or customize these benchmarks to better reflect the investment objective(s) of the fund and/or the universe of comparably managed funds of competitive investment management firms.

Capital Group Fixed Income ETF Trust — Page 74

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**Portfolio manager fund holdings and management of other accounts —** As described below, portfolio managers may personally own shares of the funds. In addition, portfolio managers may manage portions of other registered investment companies or accounts advised by Capital Research and Management Company or its affiliates.

**The following table reflects information as of December 31, 2025:**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio**<br>**manager** | **Dollar range**<br>**of fund**<br>**shares**<br>**owned<sup>1</sup>** | **Number**<br>**of other**<br>**registered**<br>**investment**<br>**companies (RICs)**<br>**for which**<br>**portfolio**<br>**manager**<br>**is a manager**<br>**(assets of RICs**<br>**in billions)<sup>2</sup>** | **Number**<br>**of other**<br>**registered**<br>**investment**<br>**companies (RICs)**<br>**for which**<br>**portfolio**<br>**manager**<br>**is a manager**<br>**(assets of RICs**<br>**in billions)<sup>2</sup>** | **Number**<br>**of other**<br>**pooled**<br>**investment**<br>**vehicles (PIVs)**<br>**for which**<br>**portfolio**<br>**manager**<br>**is a manager**<br>**(assets of PIVs**<br>**in billions)<sup>2</sup>** | **Number**<br>**of other**<br>**pooled**<br>**investment**<br>**vehicles (PIVs)**<br>**for which**<br>**portfolio**<br>**manager**<br>**is a manager**<br>**(assets of PIVs**<br>**in billions)<sup>2</sup>** | **Number**<br>**of other**<br>**accounts**<br>**for which**<br>**portfolio**<br>**manager**<br>**is a manager**<br>**(assets of**<br>**other accounts**<br>**in billions)<sup>2,3</sup>** | **Number**<br>**of other**<br>**accounts**<br>**for which**<br>**portfolio**<br>**manager**<br>**is a manager**<br>**(assets of**<br>**other accounts**<br>**in billions)<sup>2,3</sup>** |
| Capital Group Core Bond ETF | Capital Group Core Bond ETF | Capital Group Core Bond ETF | Capital Group Core Bond ETF | Capital Group Core Bond ETF | Capital Group Core Bond ETF | Capital Group Core Bond ETF | Capital Group Core Bond ETF |
| Pramod Atluri | $100001 – $500000 | 5 | $519.4 | 3 | $11.74 |  |  |
| Oliver V. Edmonds | $100001 – $500000 | 5 | $52.9 | 2 | $3.33 |  |  |
| Chitrang Purani | $100001 – $500000 | 7 | $386.6 | 3 | $11.74 |  |  |
| Capital Group Core Plus Income ETF | Capital Group Core Plus Income ETF | Capital Group Core Plus Income ETF | Capital Group Core Plus Income ETF | Capital Group Core Plus Income ETF | Capital Group Core Plus Income ETF | Capital Group Core Plus Income ETF | Capital Group Core Plus Income ETF |
| Xavier Goss | $100001 – $500000 | 7 | $46.2 | 5 | $6.11 |  |  |
| David A. Hoag | Over $1,000,000 | 10 | $608.0 | 4 | $79.33 |  |  |
| Damien J. McCann | $100001 – $500000 | 21 | $142.8 | 5 | $6.11 |  |  |
| Chitrang Purani | $100001 – $500000 | 7 | $383.7 | 3 | $11.74 |  |  |
| Capital Group High Yield Bond ETF | Capital Group High Yield Bond ETF | Capital Group High Yield Bond ETF | Capital Group High Yield Bond ETF | Capital Group High Yield Bond ETF | Capital Group High Yield Bond ETF | Capital Group High Yield Bond ETF | Capital Group High Yield Bond ETF |
| Tom Chow | $100001 – $500000 | 3 | $55.4 | 2 | $0.50 |  |  |
| Andy Moth | $100001 – $500000 | 3 | $167.1 | 2 | $0.50 |  |  |
| Shannon Ward | $100001 – $500000 | 8 | $567.0 | 9 | $83.68 | 1 | $0.33 |
| Capital Group International Bond ETF (USD-Hedged) | Capital Group International Bond ETF (USD-Hedged) | Capital Group International Bond ETF (USD-Hedged) | Capital Group International Bond ETF (USD-Hedged) | Capital Group International Bond ETF (USD-Hedged) | Capital Group International Bond ETF (USD-Hedged) | Capital Group International Bond ETF (USD-Hedged) | Capital Group International Bond ETF (USD-Hedged) |
| Philip Chitty | $100001 – $500000 | 4 | $42.3 | 8 | $3.31 | 1 | $1.06 |
| Andrew A. Cormack | $100001 – $500000 | 4 | $42.3 | 6 | $3.09 | 1 | $1.06 |
| Thomas Reithinger | Over $1,000,000 | 2 | $11.3 | 5 | $2.27 |  |  |
| Capital Group Municipal High-Income ETF | Capital Group Municipal High-Income ETF | Capital Group Municipal High-Income ETF | Capital Group Municipal High-Income ETF | Capital Group Municipal High-Income ETF | Capital Group Municipal High-Income ETF | Capital Group Municipal High-Income ETF | Capital Group Municipal High-Income ETF |
| Lee Chu | $100001 – $500000 | 4 | $41.6 |  |  |  |  |
| Chad M. Rach | $100001 – $500000 | 1 | $13.6 |  |  |  |  |
| Jerome Solomon | $100001 – $500000 | 3 | $18.7 |  |  |  |  |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio**<br>**manager** | **Dollar range**<br>**of fund**<br>**shares**<br>**owned<sup>1</sup>** | **Number**<br>**of other**<br>**registered**<br>**investment**<br>**companies (RICs)**<br>**for which**<br>**portfolio**<br>**manager**<br>**is a manager**<br>**(assets of RICs**<br>**in billions)<sup>2</sup>** | **Number**<br>**of other**<br>**registered**<br>**investment**<br>**companies (RICs)**<br>**for which**<br>**portfolio**<br>**manager**<br>**is a manager**<br>**(assets of RICs**<br>**in billions)<sup>2</sup>** | **Number**<br>**of other**<br>**pooled**<br>**investment**<br>**vehicles (PIVs)**<br>**for which**<br>**portfolio**<br>**manager**<br>**is a manager**<br>**(assets of PIVs**<br>**in billions)<sup>2</sup>** | **Number**<br>**of other**<br>**pooled**<br>**investment**<br>**vehicles (PIVs)**<br>**for which**<br>**portfolio**<br>**manager**<br>**is a manager**<br>**(assets of PIVs**<br>**in billions)<sup>2</sup>** | **Number**<br>**of other**<br>**accounts**<br>**for which**<br>**portfolio**<br>**manager**<br>**is a manager**<br>**(assets of**<br>**other accounts**<br>**in billions)<sup>2,3</sup>** | **Number**<br>**of other**<br>**accounts**<br>**for which**<br>**portfolio**<br>**manager**<br>**is a manager**<br>**(assets of**<br>**other accounts**<br>**in billions)<sup>2,3</sup>** |
| Capital Group Municipal Income ETF | Capital Group Municipal Income ETF | Capital Group Municipal Income ETF | Capital Group Municipal Income ETF | Capital Group Municipal Income ETF | Capital Group Municipal Income ETF | Capital Group Municipal Income ETF | Capital Group Municipal Income ETF |
| Mark Marinella | $100001 – $500000 | 8 | $17.1 |  |  | 2799 | $5.43 |
| Jerome Solomon | $100001 – $500000 | 3 | $16.4 |  |  |  |  |
| Courtney K. Wolf | Over $1,000,000 | 3 | $27.7 |  |  |  |  |
| Capital Group Short Duration Income ETF | Capital Group Short Duration Income ETF | Capital Group Short Duration Income ETF | Capital Group Short Duration Income ETF | Capital Group Short Duration Income ETF | Capital Group Short Duration Income ETF | Capital Group Short Duration Income ETF | Capital Group Short Duration Income ETF |
| Vincent J. Gonzales | Over $1,000,000 | 2 | $40.2 | 1 | $1.58 |  |  |
| Steven D. Lotwin | $500001 – $1000000 | 3 | $28.2 | 1 | $1.58 |  |  |
| Capital Group Short Duration Municipal Income ETF | Capital Group Short Duration Municipal Income ETF | Capital Group Short Duration Municipal Income ETF | Capital Group Short Duration Municipal Income ETF | Capital Group Short Duration Municipal Income ETF | Capital Group Short Duration Municipal Income ETF | Capital Group Short Duration Municipal Income ETF | Capital Group Short Duration Municipal Income ETF |
| Vikas Malhotra | $100001 – $500000 | 3 | $8.3 |  |  |  |  |
| Mark Marinella | $100001 – $500000 | 8 | $20.9 |  |  | 2799 | $5.43 |
| Capital Group Ultra Short Income ETF | Capital Group Ultra Short Income ETF | Capital Group Ultra Short Income ETF | Capital Group Ultra Short Income ETF | Capital Group Ultra Short Income ETF | Capital Group Ultra Short Income ETF | Capital Group Ultra Short Income ETF | Capital Group Ultra Short Income ETF |
| Oliver V. Edmonds | $100001 – $500000 | 5 | $56.4 | 2 | $3.33 |  |  |
| Steven D. Lotwin | Over $1,000,000 | 3 | $29.9 | 1 | $1.58 |  |  |
| Capital Group U.S. Multi-Sector Income ETF | Capital Group U.S. Multi-Sector Income ETF | Capital Group U.S. Multi-Sector Income ETF | Capital Group U.S. Multi-Sector Income ETF | Capital Group U.S. Multi-Sector Income ETF | Capital Group U.S. Multi-Sector Income ETF | Capital Group U.S. Multi-Sector Income ETF | Capital Group U.S. Multi-Sector Income ETF |
| Xavier Goss | $100001 – $500000 | 7 | $48.7 | 5 | $6.11 |  |  |
| Sandro Lazzarini | $100001 – $500000 | 3 | $21.3 | 4 | $4.76 |  |  |
| Damien J. McCann | Over $1,000,000 | 21 | $145.4 | 5 | $6.11 |  |  |
| Scott Sykes | $100001 – $500000 | 4 | $33.8 | 6 | $6.93 | 8 | $7.04 |
| Shannon Ward | $100001 – $500000 | 8 | $563.1 | 9 | $83.68 | 1 | $0.33 |

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<sup>1</sup>Ownership disclosure is made using the following ranges: None; $1 – $10,000; $10,001 – $50,000; $50,001 – $100,000; $100,001 – $500,000; $500,001 – $1,000,000; and Over $1,000,000.

<sup>2</sup>Indicates other RIC(s), PIV(s) or other accounts managed by Capital Research and Management Company or its affiliates for which the portfolio manager also has significant day to day management responsibilities. Assets noted are the total net assets of the RIC(s), PIV(s) or other accounts and are not the total assets managed by the individual, which is a substantially lower amount. No RIC, PIV or other account has an advisory fee that is based on the performance of the RIC, PIV or other account, unless otherwise noted.

<sup>3</sup>Personal brokerage accounts of portfolio managers and their families are not reflected.

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A fund's investment adviser has adopted policies and procedures to mitigate material conflicts of interest that may arise in connection with a portfolio manager's management of the fund, on the one hand, and investments in the other registered investment companies, pooled investment vehicles and other accounts, on the other hand, such as material conflicts relating to the allocation of investment opportunities that may be suitable for both the fund and such other accounts.

**Investment Advisory and Service Agreement —** The Investment Advisory and Service Agreement (the "Agreement") between the trust and the investment adviser will continue in effect until July 31, 2026, unless sooner terminated, and may be renewed from year to year thereafter, provided that any such renewal has been specifically approved at least annually by (*a*) the board of trustees, or by the vote of a majority (as defined in the 1940 Act) of the outstanding voting securities of a fund, and (*b*) the vote of a majority of trustees who are not parties to the Agreement or interested persons (as defined in the 1940 Act) of any such party, in accordance with applicable laws and regulations. The Agreement provides that the investment adviser has no liability to the trust for its acts or omissions in the performance of its obligations to the fund not involving willful misfeasance, bad faith, gross negligence or reckless disregard of its obligations under the Agreement. The Agreement also provides that either party has the right to terminate it, without penalty, upon 60 days' written notice to the other party, and that the Agreement automatically terminates in the event of its assignment (as defined in the 1940 Act). In addition, the Agreement provides that the investment adviser may delegate all, or a portion of, its investment management responsibilities to one or more subsidiary advisers approved by the trust's board, pursuant to an agreement between the investment adviser and such subsidiary. Any such subsidiary adviser will be paid solely by the investment adviser out of its fees.

In addition to providing investment advisory services, the investment adviser and its affiliates provide certain administrative services for fund shareholders. Administrative services are provided by the investment adviser 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. Additionally, the investment adviser furnishes the services and pays the compensation and travel expenses of persons to perform the funds' executive, administrative, clerical and bookkeeping functions, and provides necessary office space, necessary small office equipment and utilities, general purpose forms, supplies and postage used at the funds' offices.

Under the Agreement, the investment adviser receives a management fee at the annual rate as shown below:

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| | |
|:---|:---|
| Fund | Rate |
| Capital Group Core Bond ETF | 0.27% |
| Capital Group Core Plus Income ETF | 0.34% |
| Capital Group High Yield Bond ETF | 0.39% |
| Capital Group International Bond ETF (USD-Hedged) | 0.45% |
| Capital Group Municipal High-Income ETF | 0.34% |
| Capital Group Municipal Income ETF | 0.27% |
| Capital Group Short Duration Income ETF | 0.25% |
| Capital Group Short Duration Municipal Income ETF | 0.25% |
| Capital Group Ultra Short Income ETF | 0.18% |
| Capital Group U.S. Multi-Sector Income ETF | 0.39% |

---

Management fees are paid monthly and accrued daily based on the average net assets of the fund. Under the Agreement, the investment adviser pays all ordinary operating expenses of the fund other than (i) interest expenses and other charges in connection with borrowing money, including line of credit and other loan commitment fees; (ii) taxes; (iii) brokerage expenses and commissions and other fees, charges or expenses incurred in connection with the execution of portfolio transactions or in connection with creation and redemption transactions; (iv) acquired fund fees and expenses; (v)

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expenses incident to meetings of fund shareholders and the associated preparation, filing and mailing of associated notices and proxy statements; (vi) legal fees or expenses in connection with any arbitration, litigation or pending or threatened arbitration or litigation, including any settlements in connection therewith; (vii) any service and distribution expenses pursuant to a plan adopted in accordance with Rule 12b-1 under the 1940 Act; (viii) any fees and expenses related to the provision of securities lending services, including lending agent fees, (ix) other non-routine or extraordinary expenses; and (x) compensation for management services payable to the investment adviser.

For the fiscal years ended December 31, 2025, 2024 and 2023, the investment adviser earned from the funds management fees, as follows:

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| | | | |
|:---|:---|:---|:---|
|  | Fiscal year ended | Fiscal year ended | Fiscal year ended |
|  | 2025 | 2024 | 2023 |
| Capital Group Core Bond ETF | $6888000 | $1959000 | $34000<sup>3</sup> |
| Capital Group Core Plus Income ETF | 17671000 | 9111000 | 2988000 |
| Capital Group High Yield Bond ETF | 105000<sup>1</sup> | N/A | N/A |
| Capital Group International Bond ETF (USD-Hedged) | 297000 | 117000<sup>2</sup> | N/A |
| Capital Group Municipal High-Income ETF | 3223000 | 99000<sup>2</sup> | N/A |
| Capital Group Municipal Income ETF | 9540000 | 3907000 | 552000 |
| Capital Group Short Duration Income ETF | 3387000 | 1426000 | 597000 |
| Capital Group Short Duration Municipal Income ETF | 1838000 | 615000 | 25000<sup>3</sup> |
| Capital Group Ultra Short Income ETF | 141000 | 30000<sup>2</sup> | N/A |
| Capital Group U.S. Multi-Sector Income ETF | 11340000 | 3939000 | 638000 |

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<sup>1</sup> For the fiscal period from June 24, 2025, when the fund commenced investment operations, to December 31, 2025.

<sup>2</sup> For the fiscal period from June 25, 2024, when the fund commenced investment operations, to December 31, 2024.

<sup>3</sup> For the fiscal period from September 26, 2023, when the fund commenced investment operations, to December 31, 2023.

**Other service agreements with third-party service providers —** The trust has entered into the Transfer Agency and Service Agreement (the "transfer agency agreement") and the Administration Agreement (the "administration agreement") with State Street Bank and Trust Company ("State Street"). Under the terms of the transfer agency agreement, State Street (or an agent, including an affiliate) acts as transfer agent and dividend disbursing agent. Under the terms of the administration agreement, State Street provides necessary administrative, legal, tax and accounting, regulatory and financial reporting services for the maintenance and operations of the trust. The investment adviser bears the costs of services under these agreements under the terms of both the transfer agency and the administration agreement.

**Distributor and plan of distribution —** Capital Client Group, Inc. is the principal underwriter of the funds' shares. The distributor is located at 333 South Hope Street, Los Angeles, CA 90071; 6455 Irvine Center Drive, Irvine, CA 92618; 3500 Wiseman Boulevard, San Antonio, TX 78251; 12811 North Meridian Street, Carmel, IN 46032; 399 Park Avenue, 34th Floor, New York, NY 10022; and 444 W. Lake Street, Suite 4600, Chicago, IL 60606.

A fund shares are continuously offered for sale through the distributor or its agent only in creation units, as described in the *Creation and redemption of creation units* section of this statement of additional information. The fund shares in amounts less than creation units are generally not distributed by the distributor or its agent. The distributor or its agent will arrange for the delivery of the prospectus and, upon request, this statement of additional information to persons purchasing creation units and will maintain records of both orders placed with it or its agents and confirmations of acceptance furnished by it or its agents. Although the distributor does not receive any fees under the

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Principal Underwriting Agreement with the fund, Capital Research and Management Company or its affiliates may pay the distributor from time to time for certain distribution-related services.

The Principal Underwriting Agreement provides that it may be terminated at any time, without the payment of any penalty: (i) by vote of a majority of the Independent Trustees or (ii) with respect to the fund by vote of a majority (as defined in the 1940 Act) of the outstanding voting securities of the fund, on at least 60 days written notice to the distributor. The Principal Underwriting Agreement is also terminable upon 60 days' notice by the distributor and will terminate automatically in the event of its assignment (as defined in the 1940 Act).

The distributor may enter into agreements with securities dealers ("soliciting dealers") who will solicit purchases of creation units of the fund shares. Such soliciting dealers may also be Authorized Participants, DTC participants and/or investor services organizations.

**Plan of distribution —**The trust has adopted a distribution plan under Rule 12b-1 of the 1940 Act that allows a fund to pay distribution fees of up to .25% per year, to those who sell and distribute the fund shares and provide other services to shareholders. However, the board has determined not to authorize payment of a Rule 12b-1 plan fee at this time. Because these fees are paid out of a fund's assets on an ongoing basis, to the extent that a fee is authorized, these fees will increase the cost of your investment in a fund. If implemented, potential benefits of the Rule 12b-1 plan to a fund and its shareholders include enabling shareholders to obtain advice and other services from a financial professional at a reasonable cost, the likelihood that the Rule 12b-1 plan will stimulate sales of the funds benefiting the investment process through growth or stability of assets and the ability of shareholders to choose among various alternatives in paying for sales and service.

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**Other compensation to dealers —** As of March 1, 2026, the firms (or their affiliates) that Capital Client Group, Inc. anticipates will receive additional compensation (as described in the prospectus) include:

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| |
|:---|
| &nbsp;&nbsp;Cetera Financial Group |
| &nbsp;&nbsp;Fidelity |
| &nbsp;&nbsp;LPL Group |
| &nbsp;&nbsp;Morgan Stanley Wealth Management |
| &nbsp;&nbsp;Northwestern Mutual (NM) |
| &nbsp;&nbsp;Osaic (Advisor Group) |
| &nbsp;&nbsp;Raymond James Group |

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**Execution of portfolio transactions**

The investment adviser places orders with broker-dealers for a fund's portfolio transactions. Purchases and sales of equity securities on a securities exchange or an over-the-counter market are effected through broker-dealers who receive commissions for their services. Generally, commissions relating to securities traded on foreign exchanges will be higher than commissions relating to securities traded on U.S. exchanges and may not be subject to negotiation. Equity securities may also be purchased from underwriters at prices that include underwriting fees. Purchases and sales of fixed income securities are generally made with an issuer or a primary market maker acting as principal with no stated brokerage commission. The price paid to an underwriter for fixed income securities includes underwriting fees. Prices for fixed income securities in secondary trades usually include undisclosed compensation to the market maker reflecting the spread between the bid and ask prices for the securities.

In selecting broker-dealers, the investment adviser strives to obtain "best execution" (the most favorable total price reasonably attainable under the circumstances) for a fund's portfolio transactions, taking into account a variety of factors. These factors include the size and type of transaction, the nature and character of the markets for the security to be purchased or sold, the cost, quality, likely speed and reliability of execution and settlement, the broker-dealer's or execution venue's ability to offer liquidity and anonymity and the trade-off between market impact and opportunity costs. The investment adviser considers these factors, which involve qualitative judgments, when selecting broker-dealers and execution venues for fund portfolio transactions. The investment adviser views best execution as a process that should be evaluated over time as part of an overall relationship with particular broker-dealer firms. The investment adviser and its affiliates negotiate commission rates with broker-dealers based on what they believe is reasonably necessary to obtain best execution. They seek, on an ongoing basis, to determine what the reasonable levels of commission rates for execution services are in the marketplace, taking various considerations into account, including the extent to which a broker-dealer has put its own capital at risk, historical commission rates and commission rates that other institutional investors are paying. A fund does not consider the investment adviser as having an obligation to obtain the lowest commission rate available for a portfolio transaction to the exclusion of price, service and qualitative considerations. Brokerage commissions are only a small part of total execution costs and other factors, such as market impact and speed of execution, contribute significantly to overall transaction costs.

The investment adviser may execute portfolio transactions with broker-dealers who provide certain brokerage and/or investment research services to it but only when in the investment adviser's judgment the broker-dealer is capable of providing best execution for that transaction. The investment adviser makes decisions for procurement of research separately and distinctly from decisions on the choice of brokerage and execution services. The receipt of these research services permits the investment adviser to supplement its own research and analysis and makes available the views of, and information from, individuals and the research staffs of other firms. Such views and information may be provided in the form of written reports, telephone contacts and meetings with securities analysts. These services may include, among other things, reports and other communications with respect to individual companies, industries, countries and regions, economic, political and legal developments, as well as scheduling meetings with corporate executives and seminars and conferences related to relevant subject matters. Research services that the investment adviser receives from broker-dealers may be used by the investment adviser in servicing a fund and other funds and accounts that it advises; however, not all such services will necessarily benefit the fund.

The investment adviser bears the cost of all third-party investment research services for all client accounts it advises. However, in order to compensate certain U.S. broker-dealers for research consumed, and valued, by the investment adviser's investment professionals, the investment adviser continues to operate a limited commission sharing arrangement with commissions on equity trades for certain registered investment companies it advises. The investment adviser voluntarily reimburses such

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registered investment companies for all amounts collected into the commission sharing arrangement. In order to operate the commission sharing arrangement, the investment adviser may cause such registered investment companies to pay commissions in excess of what other broker-dealers might have charged for certain portfolio transactions in recognition of brokerage and/or investment research services. In this regard, the investment adviser has adopted a brokerage allocation procedure consistent with the requirements of Section 28(e) of the Securities Exchange Act of 1934. Section 28(e) permits the investment adviser and its affiliates to cause an account to pay a higher commission to a broker-dealer to compensate the broker-dealer or another service provider for certain brokerage and/or investment research services provided to the investment adviser and its affiliates, if the investment adviser and each affiliate makes a good faith determination that such commissions are reasonable in relation to the value of the services provided by such broker-dealer to the investment adviser and its affiliates in terms of that particular transaction or the investment adviser's overall responsibility to the fund and other accounts that it advises. Certain brokerage and/or investment research services may not necessarily benefit all accounts paying commissions to each such broker-dealer; therefore, the investment adviser and its affiliates assess the reasonableness of commissions in light of the total brokerage and investment research services provided to the investment adviser and its affiliates. Further, investment research services may be used by all investment associates of the investment adviser and its affiliates, regardless of whether they advise accounts with trading activity that generates eligible commissions.

In accordance with their internal brokerage allocation procedure, the investment adviser and its affiliates periodically assess the brokerage and investment research services provided by each broker-dealer and each other service provider from which they receive such services. As part of its ongoing relationships, the investment adviser and its affiliates routinely meet with firms to discuss the level and quality of the brokerage and research services provided, as well as the value and cost of such services. In valuing the brokerage and investment research services the investment adviser and its affiliates receive from broker-dealers and other research providers in connection with its good faith determination of reasonableness, the investment adviser and its affiliates take various factors into consideration, including the quantity, quality and usefulness of the services to the investment adviser and its affiliates. Based on this information and applying their judgment, the investment adviser and its affiliates set an annual research budget.

Research analysts and portfolio managers periodically participate in a research poll to determine the usefulness and value of the research provided by individual broker-dealers and research providers. Based on the results of this research poll, the investment adviser and its affiliates may, through commission sharing arrangements with certain broker-dealers, direct a portion of commissions paid to a broker-dealer by the fund and other registered investment companies managed by the investment adviser or its affiliates to be used to compensate the broker-dealer and/or other research providers for research services they provide. While the investment adviser and its affiliates may negotiate commission rates and enter into commission sharing arrangements with certain broker-dealers with the expectation that such broker-dealers will be providing brokerage and research services, none of the investment adviser, any of its affiliates or any of their clients incurs any obligation to any broker-dealer to pay for research by generating trading commissions. The investment adviser and its affiliates negotiate prices for certain research that may be paid through commission sharing arrangements or by themselves with cash.

When executing portfolio transactions in the same equity security for the funds and accounts, or portions of funds and accounts, over which the investment adviser, through its equity investment divisions, has investment discretion, each investment division within the adviser and its affiliates normally aggregates its respective purchases or sales and executes them as part of the same transaction or series of transactions. When executing portfolio transactions in the same fixed income security for the fund and the other funds or accounts over which it or one of its affiliated companies has investment discretion, the investment adviser normally aggregates such purchases or sales and executes them as part of the same transaction or series of transactions. The objective of aggregating

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purchases and sales of a security is to allocate executions in an equitable manner among the funds and other accounts that have concurrently authorized a transaction in such security. The investment adviser and its affiliates serve as investment adviser for certain accounts that are designed to be substantially similar to another account. This type of account will often generate a large number of relatively small trades when it is rebalanced to its reference fund due to differing cash flows or when the account is initially started up. The investment adviser may not aggregate program trades or electronic list trades executed as part of this process. Non-aggregated trades performed for these accounts will be allocated entirely to that account. This is done only when the investment adviser believes doing so will not have a material impact on the price or quality of other transactions.

The investment adviser currently owns a minority interest in IEX Group and alternative trading systems, Luminex ATS and LeveL ATS (through a minority interest in their common parent holding company). The investment adviser, or brokers with which the investment adviser places orders, may place orders on these or other exchanges or alternative trading systems in which it, or one of its affiliates, has an ownership interest, provided such ownership interest is less than five percent of the total ownership interests in the entity. The investment adviser is subject to the same best execution obligations when trading on any such exchange or alternative trading systems.

Purchase and sale transactions may be effected directly among and between certain funds or accounts advised by the investment adviser or its affiliates, including the fund. The investment adviser maintains cross-trade policies and procedures and places a cross-trade only when such a trade is in the best interest of all participating clients and is not prohibited by the participating funds' or accounts' investment management agreement or applicable law.

The investment adviser may place orders for the fund's portfolio transactions with broker-dealers who have sold shares of the funds managed by the investment adviser or its affiliated companies; however, it does not consider whether a broker-dealer has sold shares of the funds managed by the investment adviser or its affiliated companies when placing any such orders for the fund's portfolio transactions.

Purchases and sales of futures contracts for the fund will be effected through executing brokers and FCMs that specialize in the types of futures contracts that the fund expects to hold. The investment adviser will use reasonable efforts to choose executing brokers and FCMs capable of providing the services necessary to obtain the most favorable price and execution available. The full range and quality of services available will be considered in making these determinations. The investment adviser will monitor the executing brokers and FCMs used for purchases and sales of futures contracts for their ability to execute trades based on many factors, such as the sizes of the orders, the difficulty of executions, the operational facilities of the firm involved and other factors.

Forward currency contracts are traded directly between currency traders (usually large commercial banks) and their customers. The cost to the fund of engaging in such contracts varies with factors such as the currency involved, the length of the contract period and the market conditions then prevailing. Because such contracts are entered into on a principal basis, their prices usually include undisclosed compensation to the market maker reflecting the spread between the bid and ask prices for the contracts. The fund may incur additional fees in connection with the purchase or sale of certain contracts.

Brokerage commissions paid on portfolio transactions for Capital Group U.S. Multi-Sector Income ETF for the fiscal year ended December 31, 2025 amounted to $2,000. No brokerage commissions were paid by the funds on portfolio transactions for the fiscal years ended December 31, 2024 and 2023.

A fund is required to disclose information regarding investments in the securities of their "regular" broker-dealers (or parent companies of its regular broker-dealers) that derive more than 15% of their revenue from broker-dealer, underwriter or investment adviser activities. A regular broker-dealer is (*a*)

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one of the 10 broker-dealers that received from the fund the largest amount of brokerage commissions by participating, directly or indirectly, in the fund's portfolio transactions during the fund's most recently completed fiscal year; (*b*) one of the 10 broker-dealers that engaged as principal in the largest dollar amount of portfolio transactions of the fund during the fund's most recently completed fiscal year; or (*c*) one of the 10 broker-dealers that sold the largest amount of securities of the fund during the fund's most recently completed fiscal year.

At the end of the funds' most recently completed fiscal year, the funds' regular broker-dealers included Bank of America, N.A., Charles Schwab Corporation, Citigroup Inc., Deutsche Bank A.G., Goldman Sachs Group, Inc., J.P. Morgan Securities LLC, LPL Holdings, Inc., Morgan Stanley & Co. LLC, RBC Capital Markets LLC, UBS Group AG and Wells Fargo Securities, LLC. At the end of the funds' most recently completed fiscal year, the following funds held debt and/or equity securities of an affiliated company of such regular broker-dealers:

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| | | | |
|:---|:---|:---|:---|
|  | Affiliated company of regular broker-dealer | **Type of** <br>**security** | Amount |
| Capital Group Core Bond ETF | Bank of America, N.A. | debt | $43396000 |
| Capital Group Core Bond ETF | Citigroup Inc. | debt | 22605000 |
| Capital Group Core Bond ETF | Deutsche Bank A.G. | debt | 42892000 |
| Capital Group Core Bond ETF | Goldman Sachs Group, Inc. | debt | 47133000 |
| Capital Group Core Bond ETF | J.P. Morgan Securities LLC | debt | 58708000 |
| Capital Group Core Bond ETF | Morgan Stanley & Co. LLC | debt | 69478000 |
| Capital Group Core Bond ETF | Wells Fargo Securities, LLC | debt | 19481000 |
| Capital Group Core Plus Income ETF | Bank of America, N.A. | debt | 7911000 |
| Capital Group Core Plus Income ETF | Charles Schwab Corporation | debt | 723000 |
| Capital Group Core Plus Income ETF | Citigroup Inc. | debt | 20607000 |
| Capital Group Core Plus Income ETF | Deutsche Bank A.G. | debt | 4336000 |
| Capital Group Core Plus Income ETF | Goldman Sachs Group, Inc. | debt | 34062000 |
| Capital Group Core Plus Income ETF | J.P. Morgan Securities LLC | debt | 28195000 |
| Capital Group Core Plus Income ETF | Morgan Stanley & Co. LLC | debt | 32919000 |
| Capital Group Core Plus Income ETF | UBS Group AG | debt | 2341000 |
| Capital Group Core Plus Income ETF | Wells Fargo Securities, LLC | debt | 11383000 |

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| | | | |
|:---|:---|:---|:---|
|  | Affiliated company of regular broker-dealer | **Type of** <br>**security** | Amount |
| Capital Group International Bond ETF (USD-Hedged) | Deutsche Bank A.G. | debt | 712000 |
| Capital Group International Bond ETF (USD-Hedged) | Morgan Stanley & Co. LLC | debt | 432000 |
| Capital Group Short Duration Income ETF | Bank of America, N.A. | debt | 20549000 |
| Capital Group Short Duration Income ETF | Citigroup Inc. | debt | 26156000 |
| Capital Group Short Duration Income ETF | Goldman Sachs Group, Inc. | debt | 13375000 |
| Capital Group Short Duration Income ETF | J.P. Morgan Securities LLC | debt | 29384000 |
| Capital Group Short Duration Income ETF | Morgan Stanley & Co. LLC | debt | 27681000 |
| Capital Group Short Duration Income ETF | RBC Capital Markets LLC | debt | 6241000 |
| Capital Group Short Duration Income ETF | UBS Group AG | debt | 5822000 |
| Capital Group Short Duration Income ETF | Wells Fargo Securities, LLC | debt | 25814000 |
| Capital Group Ultra Short Income ETF | Bank of America, N.A. | debt | 3496000 |
| Capital Group Ultra Short Income ETF | Charles Schwab Corporation | debt | 865000 |
| Capital Group Ultra Short Income ETF | Citigroup Inc. | debt | 4855000 |
| Capital Group Ultra Short Income ETF | Goldman Sachs Group, Inc. | debt | 2430000 |
| Capital Group Ultra Short Income ETF | J.P. Morgan Securities LLC | debt | 3093000 |
| Capital Group Ultra Short Income ETF | Morgan Stanley & Co. LLC | debt | 2891000 |
| Capital Group Ultra Short Income ETF | RBC Capital Markets LLC | debt | 925000 |
| Capital Group U.S. Multi-Sector Income ETF | Bank of America, N.A. | debt | 7123000 |
| Capital Group U.S. Multi-Sector Income ETF | Charles Schwab Corporation | debt | 1385000 |
| Capital Group U.S. Multi-Sector Income ETF | Citigroup Inc. | debt | 10171000 |
| Capital Group U.S. Multi-Sector Income ETF | Deutsche Bank A.G. | debt | 4941000 |
| Capital Group U.S. Multi-Sector Income ETF | Goldman Sachs Group, Inc. | debt | 30007000 |
| Capital Group U.S. Multi-Sector Income ETF | J.P. Morgan Securities LLC | debt | 20323000 |
| Capital Group U.S. Multi-Sector Income ETF | LPL Holdings, Inc. | debt | 379000 |
| Capital Group U.S. Multi-Sector Income ETF | Morgan Stanley & Co. LLC | debt | 19104000 |
| Capital Group U.S. Multi-Sector Income ETF | UBS Group AG | debt | 4280000 |
| Capital Group U.S. Multi-Sector Income ETF | Wells Fargo Securities, LLC | debt | 5304000 |

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At the end of the fund's most recently completed fiscal year, Capital Group High Yield Bond ETF, Capital Group Municipal High-Income ETF, Capital Group Municipal Income ETF and Capital Group Short Duration Municipal Income ETF did not hold securities of any of its regular broker-dealers.

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**Portfolio trading by Authorized Participants**

When creation or redemption transactions consist of cash, the transactions may require a fund to contemporaneously transact with broker-dealers for purchases or sales of portfolio securities, as applicable. Depending on the timing of the transactions and certain other factors, such transactions may be placed with the purchasing or redeeming Authorized Participant in its capacity as a broker-dealer or with its affiliated broker-dealer. Any such transaction will be conditioned upon an agreement with the Authorized Participant or its affiliated broker-dealer to transact at guaranteed prices in order to reduce transaction costs incurred as a consequence of settling creations or redemptions in cash rather than in-kind.

Specifically, following a fund's receipt of a creation or redemption order, to the extent such purchases or redemptions consist of a cash portion, the fund may enter an order with the Authorized Participant or its affiliated broker-dealer to purchase or sell the portfolio securities, as applicable. Such Authorized Participant or its affiliated broker-dealer will be required to guarantee that the fund will achieve execution of its order at a price at least as favorable to the fund as the fund's valuation of the portfolio securities used for purposes of calculating the NAV applied to the creation or redemption transaction giving rise to the order. Whether the execution of the order is at a price at least as favorable to the fund will depend on the results achieved by the executing firm and will vary depending on market activity, timing and a variety of other factors.

An Authorized Participant is required to deposit an amount with a fund in order to ensure that the execution of the order on the terms noted above will be honored on orders arising from creation transactions executed by an Authorized Participant or its affiliated broker-dealer. If the broker-dealer executing the order achieves executions in market transactions at a price equal to or more favorable than a fund's valuation of the portfolio securities, the fund receives the benefit of the favorable executions and the deposit is returned to the Authorized Participant. If, however, the broker-dealer is unable to achieve executions in market transactions at a price at least equal to the fund's valuation of the securities, the fund retains the portion of the deposit equal to a full amount of the execution shortfall (including any taxes, brokerage commissions or other costs) and may require the Authorized Participant to deposit any additional amount required to cover the full amount of the actual execution transaction.

An Authorized Participant agrees to pay the shortfall amount in order to ensure that a guarantee on execution will be honored for brokerage orders arising from redemption transactions executed by an Authorized Participant or its affiliated broker-dealer. If the broker-dealer executing the order achieves executions in market transactions at a price equal to or more favorable than the fund's valuation of the portfolio securities, the fund receives the benefit of the favorable executions. If, however, the broker dealer is unable to achieve executions in market transactions at a price at least equal to the fund's valuation of the securities, the fund will be entitled to the portion of the offset equal to the full amount of the execution shortfall (including any taxes, brokerage commissions or other costs).

Where an Authorized Participant executes a custom creation or redemption transaction with the fund, the Authorized Participant or its affiliated broker-dealer may also transact with the fund in securities that are the subject of such custom transaction. Any such orders for execution will be subject to, and consistent with, the fund's best execution obligations.

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**Disclosure of portfolio holdings**

The board has approved policies and procedures regarding the disclosure of information about the fund's portfolio securities. Compliance with these policies and procedures will be periodically assessed by the board in connection with reporting from the fund's Chief Compliance Officer.

Under these policies and procedures, a fund's portfolio holdings are publicly disseminated prior to the opening of business on the listing exchange each day the fund is open for business through financial reporting and news services, including publicly accessible Internet web sites, including the fund's website, capitalgroup.com/etf.

Additionally, a basket composition file, which includes the security names and share quantities to deliver in exchange for a creation unit, together with the amount of the cash component (if any), is publicly disseminated daily prior to the opening of business on the listing exchange via the National Securities Clearing Corporation ("NSCC"), a clearing agency that is registered with the SEC. The basket represents one creation unit of the fund.

The investment adviser, distributor, custodian, State Street, as the transfer agent and fund administrator of the fund, and other service providers to the fund or the investment adviser may receive nonpublic portfolio holdings information while performing services to the fund or the investment adviser but are subject to legal obligations to not disseminate or trade on non-public information concerning the fund. The fund's investment adviser may also provide certain portfolio holdings information to Authorized Participants (as defined in the *Creation and redemption of creation units* section of this statement of additional information), other institutional market participants and listing exchanges, in each case for a legitimate business purpose related to the day-to-day operations of the fund and/or for a regulatory purpose.

**Quarterly portfolio schedule —** The fund is required to disclose, after the first and third fiscal quarter, the complete monthly schedule of its portfolio holdings with the SEC on Form N-PORT. The fund's Form N-PORT will be available on the SEC's website at http://www.sec.gov. The fund's Form N-PORT will also be available through the fund's website, at capitalgroup.com/etf. Information on the fund's Form N-PORT will be available on or about the sixtieth day after the close of each quarter of the fund's fiscal year.

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**Creation and redemption of creation units**

**General —** A fund issues and sells shares only in creation units on a continuous basis through the distributor or its agent. The fund shares are sold without a sales load at a price based on the fund's NAV next determined after an order is received by the distributor in proper form on any Business Day (as defined below). On days when the listing exchange closes earlier than normal, the funds may require orders to be placed earlier in the day. The following table sets forth the number of shares of a fund that constitute a creation unit:

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| | |
|:---|:---|
| Fund | Shares per creation unit |
| Capital Group Core Bond ETF | 60000 |
| Capital Group Core Plus Income ETF | 60000 |
| Capital Group High Yield Bond ETF | 60000 |
| Capital Group International Bond ETF (USD-Hedged) | 60000 |
| Capital Group Municipal High-Income ETF | 50000 |
| Capital Group Municipal Income ETF | 60000 |
| Capital Group Short Duration Income ETF | 60000 |
| Capital Group Short Duration Municipal Income ETF | 60000 |
| Capital Group Ultra Short Income ETF | 60000 |
| Capital Group U.S. Multi-Sector Income ETF | 60000 |

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In its discretion, the trust reserves the right to increase or decrease the number of a fund's shares that constitute a creation unit. The Board reserves the right to declare a split or a consolidation in the number of the fund shares outstanding, and to make a corresponding change in the number of shares constituting a creation unit if the per share price in the secondary market rises (or declines) to an amount that falls outside the range deemed desirable by the board of trustees.

A "Business Day" with respect to each fund is any day the fund is open for business, including any day when it satisfies redemption requests as required by Section 22(e) of the 1940 Act. The fund is open for business any day on which the listing exchange is open for business. As of the date of this statement of additional information, the listing exchange is closed on the weekends and observes the following holidays, as observed: New Year's Day, Martin Luther King, Jr. Day, Presidents' Day, Good Friday, Memorial Day, Juneteenth National Independence Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day.

**Fund deposit —** The consideration for purchase of creation units of a fund generally consists of deposit securities (i.e., a designated portfolio of securities) and the cash component computed as described below. Together, the deposit securities and the cash component constitute the "fund deposit," which will be applicable (subject to possible amendment or correction) to creation requests received in proper form. A fund deposit represents the minimum initial and subsequent investment amount for a creation unit of a fund. The cash component is an amount equal to the difference between the NAV of the fund shares (per creation unit) and the "deposit amount," which is an amount equal to the market value of the deposit securities, and serves to compensate for any differences between the NAV per creation unit and the deposit securities. Payment of any stamp duty or other similar fees and expenses payable upon transfer of beneficial ownership of the deposit securities are the sole responsibility of the Authorized Participant purchasing the creation unit.

A fund's transfer agent, through the NSCC, makes available on each Business Day, prior to the opening of business on the listing exchange (currently 9:30 a.m. Eastern time), a list of the names and the required number of each deposit security and the amount of the cash component (if any) to be included in the current fund deposit (based on information as of the end of the previous Business Day for the fund) that day. Such fund deposit is applicable, subject to any adjustments as described below,

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to purchases of creation units until such time as the next-announced fund deposit is made available. The identity and number or par value of the deposit securities and the amount of the cash component change pursuant to changes in the weighting or composition of the component securities in each fund's portfolio and as rebalancing adjustments and corporate action events are reflected from time to time by the investment adviser with a view to the investment objective of a fund. In addition, the funds reserve the right to accept nonconforming (i.e., custom) fund deposits.

A fund may, in its sole discretion, substitute a "cash in lieu" amount or a different security (or instrument) to replace any deposit security in certain circumstances, including: (i) when instruments are not available in sufficient quantity for delivery; (ii) when instruments are not eligible for transfer through DTC or the clearing process due to a trading restriction; (iii) when the Authorized Participant (or an investor on whose behalf the Authorized Participant (as defined below) is acting) is not able to trade the instruments due to a trading restriction; (iv) when delivery of the deposit security by the Authorized Participant (or by an investor on whose behalf the Authorized Participant is acting) would be restricted under applicable securities or other local laws; (v) in connection with distribution payments to be made by the fund; or (vi) in certain other situations.

**Cash purchase method —** When partial or full cash purchases of creation units are available or specified for a fund, they will be effected in essentially the same manner as in-kind purchases thereof. In the case of a partial or full cash purchase, the Authorized Participant must pay the cash equivalent of the deposit securities it would otherwise be required to provide through an in-kind purchase, plus the same cash component required to be paid by an in-kind purchaser.

**Procedures for creation of creation units —** To be eligible to place orders with the distributor or its agent for one or more creation units of a fund, an entity must be an "Authorized Participant": either (i) a "Participating Party," i.e., a broker-dealer or other participant in the clearing process through the Continuous Net Settlement System of the NSCC (the "Clearing Process"), a clearing agency that is registered with the SEC, or (ii) a DTC Participant, in each case which has executed an agreement with the distributor with respect to creations and redemptions of creation units ("Authorized Participant Agreement"). All shares of the fund, however created, will be entered on the records of DTC in the name of its nominee for the account of a DTC Participant.

**Role of the Authorized Participant —** Each Authorized Participant will agree, pursuant to the terms of the Authorized Participant Agreement and on behalf of itself or any investor on whose behalf it will act, to certain conditions, including that such Authorized Participant will make available on or before the contractual settlement date, by means satisfactory to the funds, immediately available or same day funds estimated by the funds to be sufficient to pay the cash component, once the net asset value of a creation unit is next determined after receipt of the purchase order in proper form, together with any transaction fees described below. An Authorized Participant, acting on behalf of an investor, may require the investor to enter into an agreement with such Authorized Participant with respect to certain matters, including payment of the cash component. Investors who are not Authorized Participants must make appropriate arrangements for a creation request to be made through an Authorized Participant or purchase shares on the secondary market. Investors should be aware that their particular broker may not have executed an Authorized Participant Agreement and that orders to purchase creation units may have to be placed by the investor's broker through an Authorized Participant. Consequently, purchase orders placed through an Authorized Participant may result in additional charges to such investor. The funds do not expect to enter into an Authorized Participant Agreement with more than a small number of Participating Parties and/or DTC Participants.

**Placement of purchase orders —** To initiate an order for a creation unit, an Authorized Participant must submit to the distributor or its agent an irrevocable order to purchase certain fund shares (a "purchase order") in proper form (as described below). Such order must be received by the distributor or its agent by the cut-off time designated by a fund. Unless otherwise indicated by the fund, orders received generally by 4:00 p.m., Eastern Time, on a Business Day, will receive that day's NAV while

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orders received by the distributor or its agent generally between 4:00 p.m. and 5:30 p.m., Eastern Time, on a Business Day, will receive the following Business Day's NAV. For Capital Group International Bond ETF (USD Hedged) only, orders will be accepted by the distributor or its agent between 4:00 p.m. and 5:30 p.m., Eastern Time, on a Business Day for the following Business Day's NAV. A purchase order is considered to be in "proper form" if: (i) a properly completed irrevocable purchase order has been submitted by the Authorized Participant (either on its own or another investor's behalf) not later than the fund's specified cutoff time, (ii) arrangements satisfactory to the fund are in place for payment of the cash component and any other transactions fees and taxes which may be due, and (iii) all other procedures regarding placement of a purchase order specified by the fund, the distributor or transfer agent are properly followed.

Procedures and requirements governing the delivery of the fund deposit including cutoff times are specified by a fund and/or the transfer agent (defined herein) and may change from time to time. Economic or market disruptions or changes, or telephone or other communication failure, may impede one's ability to reach the distributor or its agent.

Purchase orders, if accepted by a fund, will be processed based on the NAV next determined after such acceptance in accordance with the fund's cutoff times. Those placing orders to purchase creation units through an Authorized Participant should allow sufficient time to permit proper submission of the purchase order by the Authorized Participant to the distributor or its agent by the cutoff time on such Business Day. This deadline is likely to be significantly earlier than the cutoff time. The Authorized Participant must also make available, on or before the contractual settlement date, by means satisfactory to the fund, immediately available or same day funds estimated by the fund to be sufficient to pay the cash component next determined after acceptance of the purchase order, together with the applicable purchase transaction fees if imposed. Those placing orders should ascertain the applicable deadline for cash transfers by contacting the operations department of the broker or depositary institution effectuating the transfer of the cash component. Investors should be aware that an Authorized Participant may require orders for purchases of shares placed with it to be in a particular form. Economic or market disruptions or changes, or telephone or other communication failure, may impede one's ability to reach an Authorized Participant.

**Acceptance of orders for creation units —** Assuming a purchase order is submitted in proper form, the funds will accept the order, subject to the funds' right (and the right of the distributor and the investment adviser) to reject any order until acceptance, as set forth below. Once a fund has accepted an order, upon the next determination of the net asset value of the shares, the fund will confirm the issuance of a creation unit, against receipt of payment, at such net asset value. The distributor or its agent will then transmit a confirmation of acceptance to the Authorized Participant that placed the order.

Each fund reserves the right to reject or revoke a purchase order transmitted to it by the distributor or its agent for any reason, provided that such action does not result in a suspension of sales of creation units in contravention of Rule 6c-11 and the SEC's positions thereunder. For example, a fund may reject or revoke acceptance of a creation order, including, but not limited to, when (i) the order is not in proper form; (ii) the investor(s), upon obtaining the shares ordered, would own 80% or more of the currently outstanding shares of the fund; (iii) the deposit securities delivered do not conform to the identity and number or par value of shares specified, as described above; (iv) acceptance of the fund deposit would, in the opinion of the fund, be unlawful; or (v) circumstances outside the control of the fund, the distributor or its agent and the investment adviser make it impracticable to process purchase orders. In the event a purchase order is rejected, the distributor or its agent shall notify the Authorized Participant. The funds, its transfer agent, custodian, sub-custodian(s) and distributor or its agent are under no duty, however, to give notification of any defects or irregularities in the delivery of fund deposits nor shall any of them incur any liability for failure to give such notification.

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**Issuance of a creation unit —** Except as provided herein or in an Authorized Participant Agreement, a creation unit will not be issued until the transfer of good title to the applicable fund of the deposit securities and the payment of the cash component have been completed.

To the extent contemplated by an Authorized Participant Agreement, each fund may issue creation units to an Authorized Participant, notwithstanding the fact that the corresponding fund deposits have not been received in part or in whole. The funds will do so in reliance on the undertaking of the Authorized Participant to deliver the missing deposit securities as soon as possible, which undertaking shall be secured by such Authorized Participant's delivery and maintenance of a cash collateral in an amount at least equal to 105% of the daily marked to market value of the missing deposit securities (the "additional cash deposit"), which percentage may be changed by the fund from time to time. Such additional cash deposit must be delivered no later than the date and time specified by a fund or its custodian and shall be held by the custodian and marked-to-market daily. The fund may use the additional cash deposit to purchase the missing deposit securities at any time without prior notice to the Authorized Participant. Under the Authorized Participant Agreement, an Authorized Participant is subject to liability for any shortfall between the cost to the fund of purchasing such missing deposit securities and the value of collateral including, without limitation, liability for related brokerage, borrowings and other charges.

All questions as to the number of shares of each security in the deposit securities and the validity, form, eligibility and acceptance for deposit of any securities to be delivered shall be determined by the funds, in accordance with applicable law, and the funds' determination shall be final and binding.

**Costs associated with creation transactions —** A standard creation transaction fee may be imposed to offset the transfer and other transaction costs associated with the issuance of creation units. The standard creation transaction fee may be charged to the Authorized Participant on the day such Authorized Participant creates a creation unit, and is the same, regardless of the number of creation units purchased by the Authorized Participant on the applicable Business Day. However, a fund may increase the standard creation transaction fee for administration and settlement of custom orders requiring additional administrative processing by the fund's custodian. If a purchase consists solely or partially of cash, the Authorized Participant may also be required to cover certain brokerage, tax, foreign exchange, execution, price movement and other costs and expenses related to the execution of trades resulting from such transaction (which may, in certain instances, be based on a good faith estimate of transaction costs). Authorized Participants will also bear the costs of transferring the deposit securities to the funds. Transaction fees are subject to change and certain fees/costs associated with creation transactions are subject to change and may be waived in certain circumstances. To the extent a creation transaction fee is not charged, certain costs may be borne by a relevant fund. Investors who use the services of a broker or other financial intermediary to acquire fund shares may be charged a fee for such services. The funds' standard creation transaction fees are set forth in the table below:

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| | | |
|:---|:---|:---|
| Fund | **Fixed Fee**<br> **(In Kind)** | **Fixed Fee**<br>**(In Cash)** |
| Capital Group Core Bond ETF | $250 | $100 |
| Capital Group Core Plus Income ETF | $250 | $100 |
| Capital Group High Yield Bond ETF | $250 | $100 |
| Capital Group International Bond ETF (USD-Hedged) | $250 | $100 |
| Capital Group Municipal High-Income ETF | $250 | $100 |
| Capital Group Municipal Income ETF | $250 | $100 |

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| | | |
|:---|:---|:---|
| Fund | **Fixed Fee**<br> **(In Kind)** | **Fixed Fee**<br>**(In Cash)** |
| Capital Group Short Duration Income ETF | $250 | $100 |
| Capital Group Short Duration Municipal Income ETF | $250 | $100 |
| Capital Group Ultra Short Income ETF | $250 | $100 |
| Capital Group U.S. Multi-Sector Income ETF | $250 | $100 |

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**Redemption of creation units —** A fund's shares may be redeemed by Authorized Participants only in creation units at their NAV next determined after receipt of a redemption request in proper form by the distributor or its agent and only on a Business Day. A fund will generally not redeem shares in amounts less than creation units. There can be no assurance, however, that there will be sufficient liquidity in the secondary market at any time to permit assembly of a creation unit. Investors should expect to incur brokerage and other costs in connection with assembling a sufficient number of shares to constitute a creation unit that could be redeemed by an Authorized Participant. The beneficial owners also may sell shares in the secondary market.

A fund generally redeems creation units for fund securities and the cash amount. "Fund securities" means the designated portfolio of securities that will be applicable to redemption requests received in proper form on that day. "Cash amount" means an amount of cash equal to the difference between the net asset value of the shares being redeemed, as next determined after the receipt of a redemption request in proper form, and the value of fund securities. Procedures and requirements governing redemption transactions are set forth in the Authorized Participant Agreement and may change from time to time. Unless cash redemptions are available or specified for a fund, the redemption proceeds for a creation unit generally consist of fund securities, plus the cash amount, and if imposed, less a redemption transaction fee (as described below).

A fund's transfer agent, through the NSCC, makes available on each Business Day, prior to the opening of business on the listing exchange (currently 9:30 a.m. Eastern Time), the identity of the fund securities and cash amount that will be applicable (based on information as of the end of the previous Business Day for the funds and subject to possible amendment or correction) to redemption requests received in proper form on that day. Such fund securities and the cash amount (each subject to possible amendment or correction or adjustment as described below) are applicable to redemptions of creation units until such time as the next announced composition of the fund securities and cash amount is made available. Fund securities received on redemption may not be identical to deposit securities that are applicable to creations of creation units. The funds reserve the right to deliver nonconforming (i.e., custom) fund securities. All questions as to the composition of the in-kind redemption basket to be included in the fund securities will be determined by the funds, in accordance with applicable law, and the funds' determination will be final and binding.

A fund may, in its sole discretion, substitute a "cash in lieu" amount or a different security (or instrument) to replace any fund security in certain circumstances, including: (i) when the delivery of a fund security to the Authorized Participant (or to an investor on whose behalf the Authorized Participant is acting) would be restricted under applicable securities or other local laws; (ii) when a fund security is not eligible for transfer through DTC or the Clearing Process or due to a trading restriction; (iii) when the delivery of a fund security to the Authorized Participant would result in the disposition of the fund security by the Authorized Participant due to restrictions under applicable securities or other local laws; (iv) when the delivery of a fund security to the Authorized Participant would result in unfavorable tax treatment; (v) when a fund security cannot be settled or otherwise delivered in time to facilitate an in-kind redemption; or (vi) in certain other situations. The amount of cash paid out in such cases will be equivalent to the value of the substituted security listed as a fund security. If the fund securities have a value greater than the NAV of the shares, a compensating cash payment equal to the difference is required to be made by or through an Authorized Participant by the

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redeeming shareholder. The funds generally redeem creation units for fund securities but reserves the right to utilize a cash option for redemption of creation units.

**Cash redemption method —** When partial or full cash redemptions of creation units are available or specified for a fund, they will be effected in essentially the same manner as in-kind redemptions thereof. In the case of partial or full cash redemption, the Authorized Participant receives the cash equivalent of the fund securities it would otherwise receive through an in-kind redemption, plus the same cash amount to be paid to an in-kind redeemer.

**Placement of redemption orders —** To place an order to redeem a creation unit, an Authorized Participant must submit an irrevocable order to redeem shares of a fund, in proper form (as described below). Such order must be received by the distributor or its agent no later than the cut-off time designated by the fund. Unless otherwise indicated by the fund, orders received generally by 4:00 p.m., Eastern Time, on a Business Day, will receive that day's NAV while orders received by the distributor or its agent generally between 4:00 p.m. and 5:30 p.m., Eastern Time, on a Business Day, will receive the following Business Day's NAV. For Capital Group International Bond ETF (USD-Hedged) only, orders will be accepted by the distributor or its agent between 4:00 p.m. and 5:30 p.m., Eastern Time, on a Business Day for the following Business Day's NAV. Orders must be transmitted in such form and by such transmission method acceptable to the fund's transfer agent or distributor, pursuant to the procedures specified by the fund, which procedures may change from time to time.

Investors other than Authorized Participants are responsible for making arrangements for a redemption request to be made through an Authorized Participant. Investors should be aware that their particular broker may not have executed an Authorized Participant Agreement and that, therefore, requests to redeem creation units may have to be placed by the investor's broker through an Authorized Participant who has executed an Authorized Participant Agreement. At any time, only a limited number of broker-dealers will have an Authorized Participant Agreement in effect. Investors making a redemption request should be aware that such request must be in the form specified by such Authorized Participant. Investors making a request to redeem creation units should allow sufficient time to permit proper submission of the request by an Authorized Participant and transfer of the shares to the fund's transfer agent; such investors should allow for the additional time that may be required to effect redemptions through their banks, brokers or other financial intermediaries if such intermediaries are not Authorized Participants.

A redemption request is considered to be in "proper form" if: (i) an Authorized Participant has transferred or caused to be transferred to the fund's transfer agent the creation unit redeemed through the book-entry system of DTC so as to be effective by the listing exchange closing time on any Business Day on which the redemption request is submitted; (ii) a request in form satisfactory to the fund is received by the distributor or its agent from the Authorized Participant on behalf of itself or another redeeming investor within the time periods specified above; and (iii) all other procedures specified by the fund, the distributor or transfer agent are properly followed.

The tender of an investor's shares for redemption and the distribution of the securities and/or cash included in the redemption payment made in respect of creation units redeemed will be made through DTC and the relevant Authorized Participant to the beneficial owner thereof as recorded on the book-entry system of DTC or the DTC Participant through which such investor holds, as the case may be, or by such other means specified by the Authorized Participant submitting the redemption request. A redeeming Authorized Participant, whether on its own account or acting on behalf of a beneficial owner, must maintain appropriate security arrangements with a qualified broker-dealer, bank or other custody providers in each jurisdiction in which any of the portfolio securities are customarily traded, to which account such portfolio securities will be delivered.

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An Authorized Participant that is not a "qualified institutional buyer," as such term is defined under Rule 144A of the 1933 Act, will not be able to receive securities that are restricted securities eligible for resale under Rule 144A.

To the extent contemplated by an Authorized Participant Agreement, in the event an Authorized Participant has submitted a redemption request in proper form but is unable to transfer all or part of the creation unit to be redeemed to a fund at or prior to the date and time specified by the fund or its custodian, the distributor or its agent may accept the redemption request in reliance on the undertaking by the Authorized Participant to deliver the missing shares as soon as possible. Such undertaking shall be secured by the Authorized Participant's delivery and maintenance of a cash collateral in an amount at least equal to 105% of the daily marked to market value of any undelivered fund shares (the "additional redemption cash amount"), which percentage may be changed by the fund from time to time. Such additional redemption cash amount must be delivered no later than the date and time specified by the fund or its custodian and shall be held by the custodian and marked-to-market daily. The fund may use the additional redemption cash deposit to purchase the missing deposit securities at any time without prior notice to the Authorized Participant.

The fees of the custodian and any sub-custodians in respect of the delivery, maintenance and redelivery of the collateral shall be payable by the Authorized Participant. The Authorized Participant Agreement permits the funds to acquire their shares and subjects the Authorized Participant to liability for any shortfall between the aggregate of the cost to the funds of purchasing such shares, plus the value of the cash amount, and the value of the collateral together with liability for related brokerage, borrowings and other charges.

The right of redemption may be suspended or the date of payment postponed with respect to a fund: (i) for any period during which the listing exchange is closed (other than customary weekend and holiday closings); (ii) for any period during which trading on the listing exchange is suspended or restricted; (iii) for any period during which an emergency exists as a result of which disposal of the shares of the fund's portfolio securities or determination of its net asset value is not reasonably practicable; or (iv) in such other circumstance as is permitted by the SEC. In addition, because certain of the funds' portfolio securities may trade on an exchange that is open when the listing exchange is closed, events may occur that impact the NAV of the funds when shareholders may not be able to redeem their fund shares or purchase or sell fund shares on the listing exchange.

An Authorized Participant submitting a redemption request is deemed to make certain representations to an applicable fund. The funds reserve the right to verify these representations at its discretion, and will typically require verification with respect to a redemption request from the funds in connection with higher levels of redemption activity and/or short interest in the funds. If the Authorized Participant, upon receipt of a verification request, does not provide sufficient verification of its representations as determined by a relevant fund, the redemption request will not be considered to have been received in proper form, and may be rejected by the fund.

**Costs associated with redemption transactions —** A standard redemption transaction fee may be imposed to offset transfer and other transaction costs that may be incurred by the funds associated with the redemption of creation units. The standard redemption transaction fee may be charged to the Authorized Participant on the day such Authorized Participant redeems a creation unit and is the same regardless of the number of creation units redeemed by an Authorized Participant on the applicable Business Day. However, the funds may increase the standard redemption transaction fee for administration and settlement of custom orders requiring additional administrative processing by such custodian. If a redemption consists solely or partially of cash, the Authorized Participant may also be required to cover (up to the maximum amount shown below) certain brokerage, tax, foreign exchange, execution, price movement and other costs and expenses related to the execution of trades resulting from such transaction (which may, in certain instances, be based on a good faith estimate of transaction costs). Authorized Participants will also bear the costs of transferring the fund securities

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from the funds to their account on their order. Transaction fees are subject to change and certain fees/costs associated with redemption transactions may be waived in certain circumstances. To the extent a redemption transaction fee is not charged, certain costs may be borne by a relevant fund. Investors who use the services of a broker or other financial intermediary to dispose of the fund shares may be charged a fee for such services. The funds' standard creation unit redemption fees and maximum additional charges (as described above) are set forth in the table below:

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| | | | |
|:---|:---|:---|:---|
| Fund | **Fixed Fee**<br> **(In Kind)** | **Fixed Fee**<br>**(In Cash)** | **Maximum**<br>**additional charge\*** |
| Capital Group Core Bond ETF | $250 | $100 | 2% |
| Capital Group Core Plus Income ETF | $250 | $100 | 2% |
| Capital Group High Yield Bond ETF | $250 | $100 | 2% |
| Capital Group International Bond ETF (USD-Hedged) | $250 | $100 | 2% |
| Capital Group Municipal High-Income ETF | $250 | $100 | 2% |
| Capital Group Municipal Income ETF | $250 | $100 | 2% |
| Capital Group Short Duration Income ETF | $250 | $100 | 2% |
| Capital Group Short Duration Municipal Income ETF | $250 | $100 | 2% |
| Capital Group Ultra Short Income ETF | $250 | $100 | 2% |
| Capital Group U.S. Multi-Sector Income ETF | $250 | $100 | 2% |

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\*As a percentage of the net asset value per creation unit redeemed, inclusive of the fixed redemption transaction fee (if imposed).

**Custom baskets —** Creation and Redemption baskets may differ and a fund may accept "custom baskets." A custom basket may include any of the following: (i) a basket that is composed of a non-representative selection of the fund's portfolio holdings; or (ii) a representative basket that is different from the initial basket used in transactions on the same business day. Each fund has adopted policies and procedures that govern the construction and acceptance of baskets, including heightened requirements for certain types of custom baskets. Such policies and procedures provide the parameters for the construction and acceptance of custom baskets that are in the best interests of each fund and its shareholders, establish processes for revisions to, or deviations from, such parameters, and specify the titles and roles of the employees of the investment adviser who are required to review each custom basket for compliance with those parameters. In addition, when constructing custom baskets for redemptions, the tax efficiency of a relevant fund may be taken into account. The policies and procedures distinguish among different types of custom baskets that may be used and impose different requirements for different types of custom baskets in order to seek to mitigate against potential risks of conflicts and/or overreaching by an Authorized Participant.

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**Determination of net asset value**

All portfolio securities of a fund are valued, and the net asset value per share is determined, as indicated below. The fund follows standard industry practice by typically reflecting changes in their holdings of portfolio securities on the first business day following a portfolio trade.

Equity securities, including depositary receipts, exchange-traded funds, and certain convertible preferred stocks that trade on an exchange or market, 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 evaluated prices obtained from third-party pricing vendors. Vendors value such securities based on one or more inputs that may include, among other things, benchmark yields, transactions, bids, offers, quotations from dealers and trading systems, new issues, underlying equity of the issuer, interest rate volatilities, 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, prepayment information, default rates, delinquency and loss assumptions, financial or collateral characteristics or performance, credit enhancements, liquidation value calculations, specific deal information and other reference data.

Forward currency contracts are valued based on the spot and forward exchange rates obtained from a third-party pricing vendor.

Futures contracts are generally valued at the official settlement price of, or the last reported sale price on, the principal exchange or market on which such instruments are traded, as of the close of business on the day the contracts are being valued or, lacking any sales, at the last available bid price.

Swaps, including interest rate swaps, total return swaps and positions in credit default swap indices, are generally valued using evaluated prices obtained from third-party pricing vendors who calculate these values based on market inputs that may include yields of the indices referenced in the instrument and the relevant curve, dealer quotes, default probabilities and recovery rates, other reference data, and terms of the contract.

Options are valued using market quotations or valuations provided by one or more pricing vendors. Similar to futures, options may also be valued at the official settlement price if listed on an exchange.

Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the investment adviser are valued at fair value as determined in good faith under fair value guidelines adopted by the investment adviser and approved by the fund's board. Subject to board oversight, the fund's board has designated the fund's investment adviser to make fair valuation determinations, which are directed by a valuation committee established by the fund's investment adviser. The board receives regular reports describing fair-valued securities and the valuation methods used.

As a general principle, these guidelines consider relevant company, market and other data and considerations to determine the price that a fund might reasonably expect to receive if such fair valued securities were sold in an orderly transaction. Fair valuations involve judgment and may differ materially from valuations that would have been used had greater market activity occurred. The investment adviser's valuation committee 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

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the type and cost of the security, restrictions on resale of the security, relevant financial or business developments of the issuer, actively traded similar or related securities and transactions, dealer or broker quotes, 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. The valuation committee employs additional fair value procedures to address issues related to equity securities that trade principally in markets outside the United States. Such securities may trade in markets that open and close at different times, reflecting time zone differences. If significant events occur after the close of a market (and before a fund's net asset values are next determined) which affect the value of equity securities held in the fund's portfolio, appropriate adjustments from closing market prices may be made to reflect these events. Events of this type could include, for example, earthquakes and other natural disasters or significant price changes in other markets (e.g., U.S. stock markets).

Assets or liabilities, including investment securities, denominated in currencies other than U.S. dollars are translated into U.S. dollars, prior to the next determination of the net asset value of each fund's shares, at the exchange rates obtained from a third-party pricing vendor.

Net asset value is computed by adding the value of a fund's investments, cash and other assets, and subtracting the fund's liabilities. The value of the net assets so obtained for the fund is then divided by the total number of shares outstanding, and the result, rounded to the nearest cent, is the net asset value per share for the fund. Realized investment income and gain is included in the fund's NAV until the ex-dividend date, when the declared dividend amount is treated as a fund liability.

Each fund's most-recently calculated net asset value per share is available on the website at capitalgroup.com/etf.

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**Taxes and distributions**

*<u>Disclaimer</u>*: Some of the following information may not apply to certain shareholders, including those holding fund shares in a tax-deferred account, such as a retirement plan or education savings account. Shareholders should consult their tax advisors about the application of federal, state and local tax law in light of their particular situation.

**Taxation as a regulated investment company —** A fund intends to qualify each year as a "regulated investment company" under Subchapter M of the Code, so that it will not be liable for federal tax on income and capital gains distributed to shareholders. In order to qualify as a regulated investment company, and avoid being subject to federal income taxes, a fund intends to distribute substantially all of its net investment income and realized net capital gains on a fiscal year basis, and intends to comply with other tests applicable to regulated investment companies under Subchapter M.

The Code includes savings provisions allowing a fund to cure inadvertent failures of certain qualification tests required under Subchapter M. However, should a fund fail to qualify under Subchapter M, a fund would be subject to federal, and possibly state, corporate taxes on its taxable income and gains.

Amounts not distributed by a fund on a timely basis in accordance with a calendar year distribution requirement may be subject to a nondeductible 4% excise tax. Unless an applicable exception applies, to avoid the tax, a fund must distribute during each calendar year an amount equal to the sum of (*a*) at least 98% of its ordinary income (not taking into account any capital gains or losses) for the calendar year, (*b*) at least 98.2% of its capital gains in excess of its capital losses for the twelve month period ending on October 31, and (*c*) all ordinary income and capital gains for previous years that were not distributed during such years and on which a fund paid no U.S. federal income tax.

Dividends paid by a fund from ordinary income or from an excess of net short-term capital gain over net long-term capital loss are taxable to shareholders as ordinary income dividends. Shareholders of the fund that are individuals and meet certain holding period requirements with respect to their fund shares may be eligible for reduced tax rates on "qualified dividend income," if any, distributed by the fund to such shareholders. In the event the fund's distribution of net investment income exceeds its earnings and profits for tax purposes, a portion of such distribution may be classified as return of capital. Returns of capital distributions decrease your cost basis and are not taxable until your cost basis has been reduced to zero. If your cost basis is zero, returns of capital distributions are treated as capital gains.

A fund may declare a capital gain distribution consisting of the excess of net realized long-term capital gains over net realized short-term capital losses. Net capital gains for a fiscal year are computed by taking into account any capital loss carryforward of a fund from the previous year.

A fund may retain a portion of net capital gain for reinvestment and may elect to treat such capital gain as having been distributed to shareholders of the fund. Shareholders may receive a credit for the tax that the fund paid on such undistributed net capital gain and would increase the basis in their shares of the fund by the difference between the amount of includible gains and the tax deemed paid by the shareholder.

Distributions of net capital gain that a fund properly reports as a capital gain distribution generally will be taxable as long-term capital gain, regardless of the length of time the fund shares have been held by a shareholder. Any loss realized upon the sale of shares held at the time of sale for six months or less from the date of their purchase will be treated as a long-term capital loss to the extent of any capital gain distributions (including any undistributed amounts treated as distributed capital gains, as described above) during such six-month period.

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Capital gain and income distributions by the funds result in a reduction in the net asset value of the fund shares. Investors should consider the tax implications of buying shares prior to a distribution. The price of shares purchased at that time may include the amount of a forthcoming distribution. Those purchasing fund shares at a time when the fund has realized but not yet distributed income or capital gains that is reflected in the price of the shares will subsequently receive a partial return of their investment capital upon payment of the distribution, which will be taxable to them as a dividend or other fund distribution, as described above.

Certain distributions reported by the funds as Section 163(j) interest dividends may be treated as interest income by shareholders for purposes of the tax rules applicable to interest expense limitations under Section 163(j) of the Code. Such treatment by the shareholder is generally subject to holding period requirements and other potential limitations, although the holding period requirements are generally not applicable to dividends declared by money market funds and certain other funds that declare dividends daily and pay such dividends on a monthly or more frequent basis. The amount that a fund is eligible to report as a Section 163(j) dividend for a tax year is generally limited to the excess of the fund's business interest income over the sum of the fund's (i) business interest expense and (ii) other deductions properly allocable to the fund's business interest income.

**Sales of fund shares —** Sales of shares may result in federal, state and local tax consequences (gain or loss) to the shareholder. Any loss realized on a sale of shares of a fund will be disallowed to the extent substantially identical shares are reacquired within the 61-day period beginning 30 days before and ending 30 days after the shares are disposed of. Any loss disallowed under this rule will be added to the shareholder's tax basis in the new shares purchased.

**Tax consequences applicable to Capital Group Municipal High-Income ETF, Capital Group Municipal Income ETF and Capital Group Short Duration Municipal Income ETF only** — Interest on the municipal securities purchased by the fund is believed to be free from regular federal income tax based on opinions issued by bond counsel. However, there is no guarantee that the opinion is correct or that the IRS will agree with the opinion. If interest on a municipal security is not free from regular federal income tax, then the interest on that security would become taxable. If this were to happen, dividends derived from this interest may be taxable to shareholders.

By meeting certain requirements of the Code, the fund qualifies to pay exempt-interest dividends to shareholders. These exempt-interest dividends are derived from interest income exempt from regular federal income tax, and are not subject to regular federal income tax when they are distributed to fund shareholders. In addition, to the extent that exempt-interest dividends are derived from interest on obligations of a state or its political subdivisions, or from interest on qualifying U.S. territorial obligations (including qualifying obligations of Puerto Rico, the U.S. Virgin Islands or Guam), they also may be exempt from that state's personal income taxes.

Distributions paid by a tax-exempt fund that are designated as exempt-interest dividends will not be subject to regular federal income tax. Exempt-interest dividends paid by the fund will be reported to both the IRS and shareholders of the fund.

Private activity bonds are bonds that, although federally tax-exempt, are used for purposes other than those generally performed by governmental units and that benefit nongovernmental entities. Interest on certain private activity bonds, while exempt from regular federal income tax, is a preference item for taxpayers when determining their alternative minimum tax under the Code and under the income tax provisions of several states.

The price of a bond purchased after its original issuance may reflect market discount which, depending on the particular circumstances, may result in the fund recognizing taxable ordinary

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income. In determining whether a bond is purchased with market discount, certain de minimis rules apply.

Any loss realized on the sale of fund shares held for six months or less may be disallowed to the extent of any distributions treated as exempt-interest dividends with respect to the shares.

**Tax consequences of investing in non-U.S. securities —** Dividend and interest income received by the funds from sources outside the United States may be subject to withholding and other taxes imposed by such foreign jurisdictions. Tax conventions between certain countries and the United States, however, may reduce or eliminate these foreign taxes. Some foreign countries impose taxes on capital gains with respect to investments by foreign investors.

If more than 50% of the value of the total assets of a fund at the close of the taxable year consists of securities of foreign corporations, the fund may elect to pass through to shareholders the foreign taxes paid by the fund. If such an election is made, shareholders may claim a credit or deduction on their federal income tax returns for, and will be required to treat as part of the amounts distributed to them, their pro rata portion of qualified taxes paid by the fund to foreign countries. The application of the foreign tax credit depends upon the particular circumstances of each shareholder.

Foreign currency gains and losses, including the portion of gain or loss on the sale of debt securities attributable to fluctuations in foreign exchange rates, are generally taxable as ordinary income or loss. These gains or losses may increase or decrease the amount of dividends payable by the funds to shareholders. A fund may elect to treat gain and loss on certain foreign currency contracts as capital gain and loss instead of ordinary income or loss.

If a fund invests in stock of certain passive foreign investment companies (PFICs), the fund intends to mark-to-market these securities and recognize any gains at the end of its fiscal and excise tax years. Deductions for losses are allowable only to the extent of any previously recognized gains. Both gains and losses will be treated as ordinary income or loss, and the fund is required to distribute any resulting income. If the fund is unable to identify an investment as a PFIC security and thus does not make a timely mark-to-market election, the fund may be subject to adverse tax consequences.

**Tax consequences of investing in derivatives —** A fund may enter into transactions involving derivatives, such as futures, swaps, options and forward contracts. Special tax rules may apply to these types of transactions that could defer losses to the fund, accelerate the fund's income, alter the holding period of certain securities or change the classification of capital gains. These tax rules may therefore impact the amount, timing and character of fund distributions.

**Creations and redemptions of creation units —** An Authorized Participant who exchanges securities for creation units generally will recognize a gain or a loss. The gain or loss will be equal to the difference between the market value of the creation units at the time and the sum of the exchanger's aggregate basis in the securities surrendered plus the amount of cash paid for such creation units. A person who redeems creation units will generally recognize a gain or loss equal to the difference between the exchanger's basis in the creation units and the sum of the aggregate market value of any securities received plus the amount of any cash received for such creation units. The IRS, however, may assert that a loss realized upon an exchange of securities for creation units cannot be deducted currently under the rules governing "wash sales," or on the basis that there has been no significant change in economic position. Persons exchanging securities should consult their own tax advisor with respect to whether the wash sale rules apply and when a loss might be deductible.

Any capital gain or loss realized upon the creation of creation units will generally be treated as long-term capital gain or loss if the securities exchanged for such creation units have been held for more than one year. Any capital gain or loss realized upon the redemption of creation units will generally be

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treated as long-term capital gain or loss if a fund share comprising the creation units have been held for more than one year. Otherwise, such capital gains or losses will generally be treated as short term capital gain or loss. Any loss upon a redemption of creation units held for six (6) months or less will be treated as a long-term capital loss to the extent of any amounts treated as distributions to the applicable Authorized Participant of long-term capital gain with respect to the creation units (including any amounts credited to the Authorized Participant as undistributed capital gains).

A fund has the right to reject an order for creation units if the purchaser (or group of purchasers) would, upon obtaining the Shares so ordered, own 80% or more of the outstanding shares of the fund and if, pursuant to sections 351 and 362 of the Code, the fund would have a basis in the deposit securities different from the market value of such securities on the date of deposit. A fund also has the right to require information necessary to determine beneficial share ownership for purposes of the 80% determination. If the fund does issue creation units to a purchaser (or group of purchasers) that would, upon obtaining the fund shares so ordered, own 80% or more of the outstanding shares of the fund, the purchaser (or group of purchasers) may not recognize gain or loss upon the exchange of securities for creation units. If a fund redeems creation units in cash, it may recognize more capital gains than it will if it redeems creation units in-kind.

**Discount —** Certain bonds acquired by the fund, such as zero coupon bonds, may be treated as bonds that were originally issued at a discount. Original issue discount represents interest for federal income tax purposes and is generally defined as the difference between the price at which a bond was issued (or the price at which it was deemed issued for federal income tax purposes) and its stated redemption price at maturity. Original issue discount is treated for federal income tax purposes as tax exempt income earned by a fund over the term of the bond, and therefore is subject to the distribution requirements of the Code. The annual amount of income earned on such a bond by a fund generally is determined on the basis of a constant yield to maturity which takes into account the semiannual compounding of accrued interest (including original issue discount). Certain bonds acquired by the fund may also provide for contingent interest and/or principal. In such a case, rules similar to those for original issue discount bonds would require the accrual of income based on an assumed yield that may exceed the actual interest payments on the bond.

Some of the bonds may be acquired by a fund on the secondary market at a discount which exceeds the original issue discount, if any, on such bonds. This additional discount constitutes market discount for federal income tax purposes. Any gain recognized on the disposition of any bond having market discount generally will be treated as taxable ordinary income to the extent it does not exceed the accrued market discount on such bond (unless a fund elects to include market discount in income in the taxable years to which it is attributable). Realized accrued market discount on obligations that pay tax-exempt interest is nonetheless taxable. Generally, market discount accrues on a daily basis for each day the bond is held by a fund at a constant rate over the time remaining to the bond's maturity. In the case of any debt instrument having a fixed maturity date of not more than one year from date of issue, the gain realized on disposition will be treated as short-term capital gain. Some of the bonds acquired by a fund with a fixed maturity date of one year or less from the date of their issuance may be treated as having original issue discount or, in certain cases, "acquisition discount" (generally, the excess of a bond's stated redemption price at maturity over its acquisition price). A fund will be required to include any such original issue discount or acquisition discount in taxable ordinary income. The rate at which such acquisition discount and market discount accrues, and is thus included in a fund's investment company taxable income, will depend upon which of the permitted accrual methods the fund elects.

**Other tax considerations —** After the end of each calendar year, individual shareholders holding a fund's shares in taxable accounts will receive a statement of the federal income tax status of all distributions. Shareholders of a fund also may be subject to state and local taxes on distributions received from the fund.

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A shareholder's cost basis information will be provided on the sale of any of the shareholder's shares, subject to certain exceptions for exempt recipients. Please contact the broker (or other nominee) that holds your shares with respect to reporting of cost basis and available elections for your account.

Under the backup withholding provisions of the Code, a shareholder may be subject to a withholding federal income tax on all payments made to the shareholder if the shareholder either does not provide the shareholder's correct taxpayer identification number or fails to certify that the shareholder is not subject to backup withholding. Backup withholding also applies if the IRS notifies the shareholder that the taxpayer identification number provided by the shareholder is incorrect or that the shareholder has previously failed to properly report interest or dividend income.

The foregoing discussion of U.S. federal income tax law relates solely to the application of that law to U.S. persons (i.e., U.S. citizens and legal residents and U.S. corporations, partnerships, trusts and estates). Each shareholder who is not a U.S. person should consider the U.S. and foreign tax consequences of ownership of shares of a fund, including the possibility that such a shareholder may be subject to U.S. withholding.

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**General information**

**Custodian of assets —** Securities and cash owned by a fund, including proceeds from the sale of shares of the fund and of securities in the fund's portfolio, are held by State Street Bank and Trust Company, One Lincoln Street, Boston, MA 02111, as custodian. If the fund holds securities of issuers outside the United States, the custodian may hold these securities pursuant to subcustodial arrangements in banks outside the United States or branches of U.S. banks outside the United States.

**Transfer agent services —** State Street Bank and Trust Company (the "transfer agent"), One Lincoln Street, Boston, MA 02111, serves as the transfer agent for each fund.

**Independent registered public accounting firm —** PricewaterhouseCoopers LLP ("PwC"), 601 South Figueroa Street, Los Angeles, CA 90017, serves as the trust's independent registered public accounting firm, providing audit services and review of certain documents to be filed with the SEC. The financial statements and financial highlights of the fund included in this statement of additional information that are from the fund's Form N-CSR for the most recent fiscal year have been audited by PwC, an independent registered public accounting firm, as stated in their report appearing herein. Such financial statements and financial highlights are included in reliance upon the report of such firm given upon their authority as experts in accounting and auditing. The selection of the trust's independent registered public accounting firm is reviewed and determined annually by the board of trustees.

**Independent legal counsel —** Morgan, Lewis & Bockius LLP, One Federal Street, Boston, MA 02110-1726, serves as independent legal counsel ("counsel") for the trust and for independent trustees in their capacities as such. A determination with respect to the independence of the trust's counsel will be made at least annually by the independent trustees of the fund, as prescribed by applicable 1940 Act rules.

**Prospectuses, reports to shareholders and proxy statements —** The funds' fiscal year ends on December 31. Shareholders are provided updated summary prospectuses annually and at least semi-annually with reports showing the fund's expenses, key statistics, holdings information and investment results (annual report only). The fund's annual financial statements are audited by the fund's independent registered public accounting firm, PwC. In addition, shareholders may also receive proxy statements for the trust.

**Codes of ethics —** The trust and Capital Research and Management Company and its affiliated companies, including the trust's distributor, have adopted codes of ethics that allow for personal investments, including securities in which the fund may invest from time to time. These codes include a ban on acquisitions of securities pursuant to an initial public offering; restrictions on acquisitions of private placement securities; preclearance and reporting requirements; review of duplicate confirmation statements; annual recertification of compliance with codes of ethics; blackout periods on personal investing for certain investment personnel; ban on short-term trading profits for investment personnel; limitations on service as a director of publicly traded companies; disclosure of personal securities transactions; and policies regarding political contributions.

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**Appendix**

The following descriptions of debt security ratings are based on information provided by Moody's Investors Service, S&P Global Ratings and Fitch Ratings, Inc.

**Description of bond ratings**

**Moody's Long-term rating scale**

**Aaa**

Obligations rated Aaa are judged to be of the highest quality, subject to the lowest level of credit risk.

**Aa**

Obligations rated Aa are judged to be of high quality and are subject to very low credit risk.

**A**

Obligations rated A are considered upper-medium grade and are subject to low credit risk.

**Baa**

Obligations rated Baa are judged to be medium-grade and subject to moderate credit risk and as such may possess certain speculative characteristics.

**Ba**

Obligations rated Ba are judged to be speculative and are subject to substantial credit risk.

**B**

Obligations rated B are considered speculative and are subject to high credit risk.

**Caa**

Obligations rated Caa are judged to be speculative and of poor standing and are subject to very high credit risk.

**Ca**

Obligations rated Ca are highly speculative and are likely in, or very near, default, with some prospect of recovery of principal and interest.

**C**

Obligations rated C are the lowest rated and are typically in default, with little prospect for recovery of principal or interest.

**Note:** Moody's appends numerical modifiers 1, 2, and 3 to each generic rating classification from Aa through Caa. The modifier 1 indicates that the obligation ranks in the higher end of its generic rating category; the modifier 2 indicates a mid-range ranking; and the modifier 3 indicates a ranking in the lower end of that generic rating category. Additionally, a "(hyb)" indicator is appended to all ratings of hybrid securities issued by banks, insurers, finance companies and securities firms.

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**S&P Global Ratings Long-term issue credit ratings**

**AAA**

An obligation rated AAA has the highest rating assigned by S&P Global Ratings. The obligor's capacity to meet its financial commitments on the obligation is extremely strong.

**AA**

An obligation rated AA differs from the highest-rated obligations only to a small degree. The obligor's capacity to meet its financial commitments on the obligation is very strong.

**A**

An obligation rated A is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations in higher-rated categories. However, the obligor's capacity to meet its financial commitments on the obligation is still strong.

**BBB**

An obligation rated BBB exhibits adequate protection parameters. However, adverse economic conditions or changing circumstances are more likely to weaken the obligor's capacity to meet its financial commitments on the obligation.

**BB, B, CCC, CC, and C**

Obligations rated BB, B, CCC, CC, and C are regarded as having significant speculative characteristics. BB indicates the least degree of speculation and C the highest. While such obligations will likely have some quality and protective characteristics, these may be outweighed by large uncertainties or major exposures to adverse conditions.

**BB**

An obligation rated BB is less vulnerable to nonpayment than other speculative issues. However, it faces major ongoing uncertainties or exposure to adverse business, financial, or economic conditions which could lead to the obligor's inadequate capacity to meet its financial commitments on the obligation.

**B**

An obligation rated B is more vulnerable to nonpayment than obligations rated BB, but the obligor currently has the capacity to meet its financial commitments on the obligation. Adverse business, financial, or economic conditions will likely impair the obligor's capacity or willingness to meet its financial commitments on the obligation.

**CCC**

An obligation rated CCC is currently vulnerable to nonpayment and is dependent upon favorable business, financial, and economic conditions for the obligor to meet its financial commitments on the obligation. In the event of adverse business, financial, or economic conditions, the obligor is not likely to have the capacity to meet its financial commitments on the obligation.

**CC**

An obligation rated CC is currently highly vulnerable to nonpayment. The CC rating is used when a default has not occurred, but S&P Global Ratings expects default to be a virtual certainty, regardless of the anticipated time to default.

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**C**

An obligation rated C is currently highly vulnerable to nonpayment, and the obligation is expected to have lower relative seniority or lower ultimate recovery compared with obligations that are rated higher.

**D**

An obligation rated D is in default or in breach of an imputed promise. For non-hybrid capital instruments, the D rating category is used when payments on an obligation are not made on the date due, unless S&P Global Ratings believes that such payments will be made within the next five business days in the absence of a stated grace period or within the earlier of the stated grace period or the next 30 calendar days. The D rating also will be used upon the filing of a bankruptcy petition or the taking of similar action and where default on an obligation is a virtual certainty, for example due to automatic stay provisions. A rating on an obligation is lowered to D if it is subject to a distressed debt restructuring.

#### Plus (+) or minus (–)
The ratings from AA to CCC may be modified by the addition of a plus or minus sign to show relative standing within the major rating categories.

#### NR
Indicates that a rating has not been assigned or is no longer assigned.

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**Fitch Ratings, Inc. Long-term credit ratings**

**AAA**

Highest credit quality. AAA ratings denote the lowest expectation of default risk. They are assigned only in case of exceptionally strong capacity for payment of financial commitments. This capacity is highly unlikely to be adversely affected by foreseeable events.

**AA**

Very high credit quality. AA ratings denote expectations of very low default risk. They indicate very strong capacity for payment of financial commitments. This capacity is not significantly vulnerable to foreseeable events.

**A**

High credit quality. A ratings denote expectations of low default risk. The capacity for payment of financial commitments is considered strong. This capacity may, nevertheless, be more vulnerable to changes in circumstances or in economic conditions than is the case for higher ratings.

**BBB**

Good credit quality. BBB ratings indicate that expectations of default risk are low. The capacity for payment of financial commitments is considered adequate but adverse changes in circumstances and economic conditions are more likely to impair this capacity.

**BB**

Speculative. BB ratings indicate an elevated vulnerability to default risk, particularly in the event of adverse changes in business or economic conditions over time; however, business or financial flexibility exists which supports the servicing of financial commitments.

**B**

Highly speculative. B ratings indicate that material default risk is present, but a limited margin of safety remains. Financial commitments are currently being met; however, capacity for continued payment is vulnerable to deterioration in the business and economic environment.

**CCC**

Substantial credit risk. Default is a real possibility.

**CC**

Very high levels of credit risk. Default of some kind appears probable.

**C**

Exceptionally high levels of credit risk. Default is imminent or inevitable, or the issuer is in standstill. Conditions that are indicative of a C category rating for an issuer include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·The issuer has entered into a grace or cure period following nonpayment of a material financial obligation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·The issuer has entered into a temporary negotiated waiver or standstill agreement following a payment default on a material financial obligation; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·Fitch Ratings otherwise believes a condition of RD or D to be imminent or inevitable, including through the formal announcement of a distressed debt exchange.

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**RD**

Restricted default. RD ratings indicate an issuer that in Fitch Ratings' opinion has experienced an uncured payment default on a bond, loan or other material financial obligation but which has not entered into bankruptcy filings, administration, receivership, liquidation or other formal winding up procedure, and which has not otherwise ceased operating. This would include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·The selective payment default on a specific class or currency of debt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·The uncured expiry of any applicable grace period, cure period or default forbearance period following a payment default on a bank loan, capital markets security or other material financial obligation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·The extension of multiple waivers or forbearance periods upon a payment default on one or more material financial obligations, either in series or in parallel; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;·Execution of a distressed debt exchange on one or more material financial obligations.

**D**

Default. D ratings indicate an issuer that in Fitch Ratings' opinion has entered into bankruptcy filings, administration, receivership, liquidation or other formal winding up procedure, or which has otherwise ceased business.

Default ratings are not assigned prospectively to entities or their obligations; within this context, nonpayment on an instrument that contains a deferral feature or grace period will generally not be considered a default until after the expiration of the deferral or grace period, unless a default is otherwise driven by bankruptcy or other similar circumstance, or by a distressed debt exchange.

Imminent default typically refers to the occasion where a payment default has been intimated by the issuer, and is all but inevitable. This may, for example, be where an issuer has missed a scheduled payment, but (as is typical) has a grace period during which it may cure the payment default. Another alternative would be where an issuer has formally announced a distressed debt exchange, but the date of the exchange still lies several days or weeks in the immediate future.

In all cases, the assignment of a default rating reflects the agency's opinion as to the most appropriate rating category consistent with the rest of its universe of ratings, and may differ from the definition of default under the terms of an issuer's financial obligations or local commercial practice.

**Note:** The modifiers "+" or "–" may be appended to a rating to denote relative status within major rating categories. Such suffixes are not added to the AAA long-term rating category, or to categories below B.

Capital Group Fixed Income ETF Trust — Page 108

------

**Description of commercial paper ratings**

**Moody's**

**Global short-term rating scale**

#### P-1
Issuers (or supporting institutions) rated Prime-1 have a superior ability to repay short-term debt obligations.

**P-2**

Issuers (or supporting institutions) rated Prime-2 have a strong ability to repay short-term debt obligations.

#### P-3
Issuers (or supporting institutions) rated Prime-3 have an acceptable ability to repay short-term obligations.

**NP**

Issuers (or supporting institutions) rated Not Prime do not fall within any of the Prime rating categories.

#### S&P Global Ratings
**Commercial paper ratings (highest three ratings)**

**A-1**

A short-term obligation rated A-1 is rated in the highest category by S&P Global Ratings. The obligor's capacity to meet its financial commitments on the obligation is strong. Within this category, certain obligations are designated with a plus sign (+). This indicates that the obligor's capacity to meet its financial commitments on these obligations is extremely strong.

**A-2**

A short-term obligation rated A-2 is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations in higher rating categories. However, the obligor's capacity to meet its financial commitments on the obligation is satisfactory.

**A-3**

A short-term obligation rated A-3 exhibits adequate protection parameters. However, adverse economic conditions or changing circumstances are more likely to weaken an obligor's capacity to meet its financial commitments on the obligation.

Capital Group Fixed Income ETF Trust — Page 109

------

Capital Group Core Bond ETF

**Investment portfolio** December 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments 96.43% | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes 40.76%** | **Corporate bonds and notes 40.76%** | **Corporate bonds and notes 40.76%** |
| **Financials 20.64%** |  |  |
| AIB Group PLC 6.608% 9/13/2029 (USD-SOFR + 2.33% on 9/13/2028) <sup>(a)(b)</sup>  | USD<br> 22,479<br>| $23879 |
| American International Group, Inc. 4.85% 5/7/2030  | 8850 | 9076 |
| Arthur J. Gallagher & Co. 4.85% 12/15/2029  | 12023 | 12311 |
| Bank of America Corp. 3.974% 2/7/2030 (3-month USD CME Term SOFR + 1.472% on 2/7/2029) <sup>(b)</sup>  | 43619 | 43396 |
| BNP Paribas SA 2.591% 1/20/2028 (USD-SOFR + 1.228% on 1/20/2027) <sup>(a)(b)</sup>  | 10310 | 10153 |
| BNP Paribas SA 5.497% 5/20/2030 (USD-SOFR + 1.59% on 5/20/2029) <sup>(a)(b)</sup>  | 13563 | 14043 |
| BPCE SA 2.045% 10/19/2027 (USD-SOFR + 1.087% on 10/19/2026) <sup>(a)(b)</sup>  | 7238 | 7122 |
| BPCE SA 5.716% 1/18/2030 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.959% on <br> 1/18/2029) <sup>(a)(b)</sup>  | 15388 | 15935 |
| BPCE SA 5.876% 1/14/2031 (USD-SOFR + 1.68% on 1/14/2030) <sup>(a)(b)</sup>  | 16973 | 17747 |
| CaixaBank SA 6.208% 1/18/2029 (USD-SOFR + 2.70% on 1/18/2028) <sup>(a)(b)</sup>  | 28589 | 29730 |
| CaixaBank SA 4.634% 7/3/2029 (USD-SOFR + 1.14% on 7/3/2028) <sup>(a)(b)</sup>  | 23324 | 23583 |
| Citigroup, Inc. 4.542% 9/19/2030 (USD-SOFR + 1.338% on 9/19/2029) <sup>(b)</sup>  | 14221 | 14343 |
| Citigroup, Inc. 4.412% 3/31/2031 (USD-SOFR + 3.914% on 3/31/2030) <sup>(b)</sup>  | 8261 | 8262 |
| Danske Bank AS 4.298% 4/1/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.75% on <br> 4/1/2027) <sup>(a)(b)</sup>  | 25573 | 25632 |
| Deutsche Bank AG 2.311% 11/16/2027 (USD-SOFR + 1.219% on 11/16/2026) <sup>(b)</sup>  | 11557 | 11372 |
| Deutsche Bank AG 6.819% 11/20/2029 (USD-SOFR + 2.51% on 11/20/2028) <sup>(b)</sup>  | 29528 | 31520 |
| DNB Bank ASA 1.535% 5/25/2027 (5-year UST Yield Curve Rate T Note Constant Maturity + 0.72% on <br> 5/25/2026) <sup>(a)(b)</sup>  | 2214 | 2192 |
| Fifth Third Bancorp 6.339% 7/27/2029 (USD-SOFR + 2.34% on 7/27/2028) <sup>(b)</sup>  | 26740 | 28167 |
| Goldman Sachs Group, Inc. 5.727% 4/25/2030 (USD-SOFR + 1.265% on 4/25/2029) <sup>(b)</sup>  | 21331 | 22290 |
| Goldman Sachs Group, Inc. 4.692% 10/23/2030 (USD-SOFR + 1.135% on 10/23/2029) <sup>(b)</sup>  | 8618 | 8738 |
| Goldman Sachs Group, Inc. 5.218% 4/23/2031 (USD-SOFR + 1.58% on 4/23/2030) <sup>(b)</sup>  | 9486 | 9800 |
| Goldman Sachs Group, Inc. 4.369% 10/21/2031 (USD-SOFR + 1.06% on 10/21/2030) <sup>(b)</sup>  | 6319 | 6305 |
| HSBC Holdings PLC 4.583% 6/19/2029 (3-month USD CME Term SOFR + 1.796% on 6/19/2028) <sup>(b)</sup>  | 37054 | 37408 |
| HSBC Holdings PLC 4.619% 11/6/2031 (USD-SOFR + 1.19% on 11/6/2030) <sup>(b)</sup>  | 3130 | 3140 |
| JPMorgan Chase & Co. 6.07% 10/22/2027 (USD-SOFR + 1.33% on 10/22/2026) <sup>(b)</sup>  | 4048 | 4113 |
| JPMorgan Chase & Co. 5.04% 1/23/2028 (USD-SOFR + 1.19% on 1/23/2027) <sup>(b)</sup>  | 4327 | 4373 |
| JPMorgan Chase & Co. 4.203% 7/23/2029 (3-month USD CME Term SOFR + 1.522% on 7/23/2028) <sup>(b)</sup>  | 35245 | 35368 |
| JPMorgan Chase & Co. 5.14% 1/24/2031 (USD-SOFR + 0.90% on 1/24/2030) <sup>(b)</sup>  | 8223 | 8501 |
| JPMorgan Chase & Co. 5.103% 4/22/2031 (USD-SOFR + 1.435% on 4/22/2030) <sup>(b)</sup>  | 100 | 103 |
| JPMorgan Chase & Co. 4.255% 10/22/2031 (USD-SOFR + 0.93% on 10/22/2030) <sup>(b)</sup>  | 5315 | 5300 |
| JPMorgan Chase & Co. 1.953% 2/4/2032 (USD-SOFR + 1.065% on 2/4/2031) <sup>(b)</sup>  | 1065 | 950 |
| KBC Groep NV 5.796% 1/19/2029 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.10% on <br> 1/19/2028) <sup>(a)(b)</sup>  | 31487 | 32526 |
| Lloyds Banking Group PLC 5.871% 3/6/2029 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.70% <br> on 3/6/2028) <sup>(b)</sup>  | 20303 | 21057 |
| Metropolitan Life Global Funding I 5.15% 3/28/2033 <sup>(a)</sup>  | 7300 | 7515 |
| Mizuho Financial Group, Inc. 5.376% 5/26/2030 (1-year UST Yield Curve Rate T Note Constant Maturity + <br> 1.12% on 5/26/2029) <sup>(b)</sup>  | 11048 | 11433 |
| Morgan Stanley 5.123% 2/1/2029 (USD-SOFR + 1.73% on 2/1/2028) <sup>(b)</sup>  | 35955 | 36708 |
| Morgan Stanley 5.042% 7/19/2030 (USD-SOFR + 1.215% on 7/19/2029) <sup>(b)</sup>  | 22683 | 23263 |
| Morgan Stanley 4.654% 10/18/2030 (USD-SOFR + 1.10% on 10/18/2029) <sup>(b)</sup>  | 9391 | 9507 |
| NatWest Group PLC 4.964% 8/15/2030 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.22% on <br> 8/15/2029) <sup>(b)</sup>  | 21428 | 21877 |
| PNC Financial Services Group, Inc. 6.615% 10/20/2027 (USD-SOFR + 1.73% on 10/20/2026) <sup>(b)</sup>  | 750 | 765 |
| PNC Financial Services Group, Inc. 5.582% 6/12/2029 (USD-SOFR + 1.841% on 6/12/2028) <sup>(b)</sup>  | 17922 | 18592 |
| PNC Financial Services Group, Inc. 4.812% 10/21/2032 (USD-SOFR + 1.289% on 10/21/2031) <sup>(b)</sup>  | 8034 | 8179 |
| Truist Financial Corp. 5.435% 1/24/2030 (USD-SOFR + 1.62% on 1/24/2029) <sup>(b)</sup>  | 26080 | 27005 |
| U.S. Bancorp 4.653% 2/1/2029 (USD-SOFR + 1.23% on 2/1/2028) <sup>(b)</sup>  | 1382 | 1400 |
| U.S. Bancorp 5.046% 2/12/2031 (USD-SOFR + 1.061% on 2/12/2030) <sup>(b)</sup>  | 10058 | 10335 |
| UBS Group AG 5.617% 9/13/2030 (1-year USD-ICE SOFR Swap + 1.34% on 9/13/2029) <sup>(a)(b)</sup>  | 8577 | 8962 |
| Wells Fargo & Co. 5.574% 7/25/2029 (USD-SOFR + 1.74% on 7/25/2028) <sup>(b)</sup>  | 18798 | 19481 |
| Westpac Banking Corp. 4.11% 7/24/2034 (5-year UST Yield Curve Rate T Note Constant Maturity + 2.00% on <br> 7/24/2029) <sup>(b)</sup>  | 21114 | 20790 |
|  |  | 754247 |
| **Utilities 4.78%** |  |  |
| DTE Energy Co. 5.10% 3/1/2029  | 24629 | 25246 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **1** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Bond ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Utilities (continued)** |  |  |
| Edison International 4.125% 3/15/2028  | USD<br> 3,109<br>| $3076 |
| Edison International 5.45% 6/15/2029  | 50 | 51 |
| Edison International 6.95% 11/15/2029  | 165 | 176 |
| Edison International 6.25% 3/15/2030  | 1448 | 1515 |
| Enel Finance International NV 2.125% 7/12/2028 <sup>(a)</sup>  | 2030 | 1931 |
| Enel Finance International NV 4.125% 9/30/2028 <sup>(a)</sup>  | 11345 | 11328 |
| FirstEnergy Corp. 2.65% 3/1/2030  | 10986 | 10249 |
| Georgia Power Co. 4.95% 5/17/2033  | 16155 | 16480 |
| Pacific Gas and Electric Co. 5.00% 6/4/2028  | 6810 | 6933 |
| Pacific Gas and Electric Co. 4.65% 8/1/2028  | 11878 | 11968 |
| Pacific Gas and Electric Co. 4.55% 7/1/2030  | 15885 | 15824 |
| Pacific Gas and Electric Co. 5.70% 3/1/2035  | 3475 | 3575 |
| Pacific Gas and Electric Co. 4.95% 7/1/2050  | 3132 | 2651 |
| PacifiCorp 5.10% 2/15/2029  | 30797 | 31439 |
| Public Service Enterprise Group, Inc. 4.90% 3/15/2030  | 11125 | 11381 |
| Southern California Edison Co. 5.25% 3/15/2030  | 5501 | 5645 |
| Southern California Edison Co. 5.45% 6/1/2031  | 14581 | 15097 |
|  |  | 174565 |
| **Health care 3.89%** |  |  |
| AbbVie, Inc. 5.05% 3/15/2034  | 8051 | 8277 |
| Amgen, Inc. 5.25% 3/2/2033  | 19177 | 19857 |
| Baxter International, Inc. 2.272% 12/1/2028  | 34106 | 32205 |
| Baxter International, Inc. 4.45% 2/15/2029  | 3307 | 3319 |
| Bristol-Myers Squibb Co. 5.20% 2/22/2034  | 14950 | 15546 |
| Centene Corp. 4.25% 12/15/2027  | 4082 | 4060 |
| Cigna Group (The) 5.00% 5/15/2029  | 6918 | 7107 |
| CVS Health Corp. 5.40% 6/1/2029  | 21167 | 21933 |
| Pfizer Investment Enterprises Pte., Ltd. 4.75% 5/19/2033  | 11354 | 11478 |
| Takeda U.S. Financing, Inc. 5.20% 7/7/2035  | 3700 | 3770 |
| UnitedHealth Group, Inc. 5.35% 2/15/2033  | 10825 | 11282 |
| Viatris, Inc. 2.70% 6/22/2030  | 3441 | 3147 |
| Viatris, Inc. 4.00% 6/22/2050  | 357 | 238 |
|  |  | 142219 |
| **Industrials 2.51%** |  |  |
| BAE Systems PLC 5.125% 3/26/2029 <sup>(a)</sup>  | 19781 | 20359 |
| Boeing Co. (The) 5.04% 5/1/2027  | 37395 | 37794 |
| Boeing Co. (The) 6.259% 5/1/2027  | 23692 | 24319 |
| LG Energy Solution, Ltd. 5.25% 4/2/2028 <sup>(a)</sup>  | 9122 | 9301 |
|  |  | 91773 |
| **Consumer discretionary 1.90%** |  |  |
| Ford Motor Credit Co., LLC 5.80% 3/5/2027  | 25093 | 25416 |
| General Motors Financial Co., Inc. 4.20% 10/27/2028  | 15221 | 15246 |
| Hyundai Capital America 5.275% 6/24/2027 <sup>(a)</sup>  | 9818 | 9988 |
| Hyundai Capital America 4.55% 9/26/2029 <sup>(a)</sup>  | 4105 | 4131 |
| Hyundai Capital America 5.15% 3/27/2030 <sup>(a)</sup>  | 8458 | 8672 |
| Stellantis Finance US, Inc. 5.35% 3/17/2028 <sup>(a)</sup>  | 1264 | 1289 |
| Volkswagen Group of America Finance, LLC 4.90% 8/14/2026 <sup>(a)</sup>  | 4626 | 4646 |
|  |  | 69388 |
| **Information technology 1.73%** |  |  |
| Broadcom, Inc. 3.469% 4/15/2034  | 11614 | 10594 |
| Microchip Technology, Inc. 5.05% 3/15/2029  | 7611 | 7769 |
| Microchip Technology, Inc. 5.05% 2/15/2030  | 2498 | 2550 |
| Oracle Corp. 4.45% 9/26/2030  | 17870 | 17487 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Capital Group Fixed Income ETF Trust<sub>2</sub>

------

Capital Group Core Bond ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Information technology (continued)** |  |  |
| Oracle Corp. 4.80% 9/26/2032  | USD<br> 6,446<br>| $6225 |
| Roper Technologies, Inc. 4.50% 10/15/2029  | 9340 | 9440 |
| SK hynix, Inc. 6.375% 1/17/2028 <sup>(a)</sup>  | 8617 | 9005 |
|  |  | 63070 |
| **Energy 1.69%** |  |  |
| Diamondback Energy, Inc. 5.15% 1/30/2030  | 11570 | 11914 |
| Energy Transfer, LP 5.25% 7/1/2029  | 20069 | 20664 |
| Enterprise Products Operating, LLC 4.60% 1/15/2031  | 7764 | 7862 |
| GreenSaif Pipelines Bidco SARL 5.852% 2/23/2036 <sup>(a)</sup>  | 4349 | 4554 |
| South Bow USA Infrastructure Holdings, LLC 4.911% 9/1/2027  | 16533 | 16694 |
|  |  | 61688 |
| **Consumer staples 1.66%** |  |  |
| BAT Capital Corp. 6.343% 8/2/2030  | 10236 | 11075 |
| BAT Capital Corp. 5.35% 8/15/2032  | 7902 | 8225 |
| Constellation Brands, Inc. 2.875% 5/1/2030  | 10310 | 9707 |
| Imperial Brands Finance PLC 4.50% 6/30/2028 <sup>(a)</sup>  | 13196 | 13305 |
| Mars, Inc. 4.80% 3/1/2030 <sup>(a)</sup>  | 17777 | 18171 |
|  |  | 60483 |
| **Communication services 1.57%** |  |  |
| Charter Communications Operating, LLC 6.10% 6/1/2029  | 6472 | 6758 |
| Charter Communications Operating, LLC 6.384% 10/23/2035  | 7068 | 7301 |
| Meta Platforms, Inc. 4.60% 11/15/2032  | 12008 | 12108 |
| T-Mobile USA, Inc. 3.875% 4/15/2030  | 15663 | 15406 |
| T-Mobile USA, Inc. 5.125% 5/15/2032  | 4249 | 4374 |
| Verizon Communications, Inc. 2.355% 3/15/2032  | 1630 | 1437 |
| Verizon Communications, Inc. 4.75% 1/15/2033  | 9901 | 9896 |
|  |  | 57280 |
| **Materials 0.22%** |  |  |
| Chevron Phillips Chemical Co., LLC 4.75% 5/15/2030 <sup>(a)</sup>  | 8078 | 8187 |
| **Real estate 0.17%** |  |  |
| Ladder Capital Finance Holdings LLLP 5.50% 8/1/2030  | 3150 | 3226 |
| Piedmont Operating Partnership, LP 5.625% 1/15/2033  | 2914 | 2945 |
|  |  | 6171 |
| **Total corporate bonds and notes** |  | 1489071 |
| **Mortgage-backed obligations 31.31%** | **Mortgage-backed obligations 31.31%** | **Mortgage-backed obligations 31.31%** |
| **Federal agency mortgage-backed obligations 23.96%** |  |  |
| Fannie Mae Pool #FS3550 2.50% 1/1/2051 <sup>(c)</sup>  | 849 | 720 |
| Fannie Mae Pool #FS5929 2.50% 1/1/2051 <sup>(c)</sup>  | 483 | 409 |
| Fannie Mae Pool #FM6031 2.00% 2/1/2051 <sup>(c)</sup>  | 18029 | 14605 |
| Fannie Mae Pool #BQ7729 2.50% 3/1/2051 <sup>(c)</sup>  | 1521 | 1287 |
| Fannie Mae Pool #CA9390 2.50% 3/1/2051 <sup>(c)</sup>  | 919 | 778 |
| Fannie Mae Pool #BR6304 2.50% 4/1/2051 <sup>(c)</sup>  | 23 | 19 |
| Fannie Mae Pool #FM7304 2.50% 5/1/2051 <sup>(c)</sup>  | 820 | 694 |
| Fannie Mae Pool #CB0517 2.50% 5/1/2051 <sup>(c)</sup>  | 604 | 513 |
| Fannie Mae Pool #FM7325 2.50% 5/1/2051 <sup>(c)</sup>  | 515 | 438 |
| Fannie Mae Pool #BR9603 2.50% 5/1/2051 <sup>(c)</sup>  | 17 | 14 |
| Fannie Mae Pool #FM8315 2.50% 7/1/2051 <sup>(c)</sup>  | 922 | 784 |
| Fannie Mae Pool #BQ0991 2.50% 7/1/2051 <sup>(c)</sup>  | 457 | 386 |
| Fannie Mae Pool #CB1295 2.00% 8/1/2051 <sup>(c)</sup>  | 2672 | 2174 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **3** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Bond ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #FM8422 2.50% 8/1/2051 <sup>(c)</sup>  | USD<br> 6,252<br>| $5299 |
| Fannie Mae Pool #FM8745 2.50% 9/1/2051 <sup>(c)</sup>  | 966 | 821 |
| Fannie Mae Pool #BU0341 2.50% 9/1/2051 <sup>(c)</sup>  | 16 | 13 |
| Fannie Mae Pool #CB1810 3.00% 10/1/2051 <sup>(c)</sup>  | 11537 | 10219 |
| Fannie Mae Pool #MA4465 2.00% 11/1/2051 <sup>(c)</sup>  | 3340 | 2714 |
| Fannie Mae Pool #CB2092 2.50% 11/1/2051 <sup>(c)</sup>  | 9796 | 8292 |
| Fannie Mae Pool #CB2211 2.50% 11/1/2051 <sup>(c)</sup>  | 3593 | 3060 |
| Fannie Mae Pool #BQ7453 2.50% 11/1/2051 <sup>(c)</sup>  | 442 | 377 |
| Fannie Mae Pool #BU3058 2.50% 12/1/2051 <sup>(c)</sup>  | 6428 | 5452 |
| Fannie Mae Pool #BQ7006 2.00% 1/1/2052 <sup>(c)</sup>  | 2537 | 2061 |
| Fannie Mae Pool #MA4512 2.50% 1/1/2052 <sup>(c)</sup>  | 3466 | 2958 |
| Fannie Mae Pool #FS4203 2.50% 1/1/2052 <sup>(c)</sup>  | 268 | 227 |
| Fannie Mae Pool #FS6479 2.50% 1/1/2052 <sup>(c)</sup>  | 106 | 90 |
| Fannie Mae Pool #MA4547 2.00% 2/1/2052 <sup>(c)</sup>  | 7415 | 6018 |
| Fannie Mae Pool #MA4562 2.00% 3/1/2052 <sup>(c)</sup>  | 9520 | 7725 |
| Fannie Mae Pool #CB3744 2.50% 3/1/2052 <sup>(c)</sup>  | 77 | 66 |
| Fannie Mae Pool #FS4433 2.50% 3/1/2052 <sup>(c)</sup>  | 27 | 23 |
| Fannie Mae Pool #FS1598 2.00% 4/1/2052 <sup>(c)</sup>  | 3642 | 2955 |
| Fannie Mae Pool #MA4577 2.00% 4/1/2052 <sup>(c)</sup>  | 3560 | 2889 |
| Fannie Mae Pool #MA4578 2.50% 4/1/2052 <sup>(c)</sup>  | 4700 | 3999 |
| Fannie Mae Pool #CB3520 2.50% 4/1/2052 <sup>(c)</sup>  | 705 | 598 |
| Fannie Mae Pool #MA4597 2.00% 5/1/2052 <sup>(c)</sup>  | 4243 | 3443 |
| Fannie Mae Pool #FS5387 2.50% 5/1/2052 <sup>(c)</sup>  | 976 | 826 |
| Fannie Mae Pool #MA4623 2.50% 6/1/2052 <sup>(c)</sup>  | 1044 | 889 |
| Fannie Mae Pool #CB3891 3.00% 6/1/2052 <sup>(c)</sup>  | 1582 | 1415 |
| Fannie Mae Pool #MA4651 2.00% 7/1/2052 <sup>(c)</sup>  | 2170 | 1759 |
| Fannie Mae Pool #FS7879 2.50% 7/1/2052 <sup>(c)</sup>  | 5099 | 4324 |
| Fannie Mae Pool #FS5493 2.50% 7/1/2052 <sup>(c)</sup>  | 2717 | 2308 |
| Fannie Mae Pool #FS6631 2.50% 7/1/2052 <sup>(c)</sup>  | 37 | 31 |
| Fannie Mae Pool #MA4743 2.50% 8/1/2052 <sup>(c)</sup>  | 1642 | 1396 |
| Fannie Mae Pool #MA4768 2.50% 9/1/2052 <sup>(c)</sup>  | 2052 | 1746 |
| Fannie Mae Pool #FA2698 2.00% 10/1/2052 <sup>(c)</sup>  | 6173 | 4999 |
| Fannie Mae Pool #FS4191 5.50% 3/1/2053 <sup>(c)</sup>  | 227 | 232 |
| Fannie Mae Pool #MA5026 3.50% 4/1/2053 <sup>(c)</sup>  | 10165 | 9426 |
| Fannie Mae Pool #BY0943 4.00% 4/1/2053 <sup>(c)</sup>  | 563 | 535 |
| Fannie Mae Pool #MA5027 4.00% 5/1/2053 <sup>(c)</sup>  | 227 | 217 |
| Fannie Mae Pool #FA3450 2.50% 7/1/2053 <sup>(c)</sup>  | 15279 | 13013 |
| Fannie Mae Pool #MA5135 4.00% 9/1/2053 <sup>(c)</sup>  | 3287 | 3129 |
| Fannie Mae Pool #MA5177 4.00% 10/1/2053 <sup>(c)</sup>  | 901 | 857 |
| Fannie Mae Pool #MA5163 4.50% 10/1/2053 <sup>(c)</sup>  | 918 | 898 |
| Fannie Mae Pool #FA0441 3.50% 12/1/2053 <sup>(c)</sup>  | 21577 | 20009 |
| Fannie Mae Pool #MA5236 4.00% 12/1/2053 <sup>(c)</sup>  | 303 | 288 |
| Fannie Mae Pool #CB7862 6.00% 1/1/2054 <sup>(c)</sup>  | 360 | 371 |
| Fannie Mae Pool #MA5249 7.00% 1/1/2054 <sup>(c)</sup>  | 3618 | 3807 |
| Fannie Mae Pool #MA5295 6.00% 3/1/2054 <sup>(c)</sup>  | 4606 | 4733 |
| Fannie Mae Pool #CB8755 6.00% 6/1/2054 <sup>(c)</sup>  | 698 | 720 |
| Fannie Mae Pool #FS8223 6.00% 6/1/2054 <sup>(c)</sup>  | 212 | 218 |
| Fannie Mae Pool #FS8219 6.00% 6/1/2054 <sup>(c)</sup>  | 184 | 191 |
| Fannie Mae Pool #DB7039 6.00% 7/1/2054 <sup>(c)</sup>  | 155 | 160 |
| Fannie Mae Pool #DB7687 6.00% 8/1/2054 <sup>(c)</sup>  | 73 | 76 |
| Fannie Mae Pool #DB7690 6.00% 8/1/2054 <sup>(c)</sup>  | 69 | 72 |
| Fannie Mae Pool #DC0296 6.00% 8/1/2054 <sup>(c)</sup>  | 60 | 62 |
| Fannie Mae Pool #MA5471 6.00% 9/1/2054 <sup>(c)</sup>  | 4305 | 4423 |
| Fannie Mae Pool #MA5528 4.00% 11/1/2054 <sup>(c)</sup>  | 44 | 41 |
| Fannie Mae Pool #MA5529 4.50% 11/1/2054 <sup>(c)</sup>  | 8432 | 8239 |
| Fannie Mae Pool #MA5550 4.00% 12/1/2054 <sup>(c)</sup>  | 57 | 54 |
| Fannie Mae Pool #MA5552 5.00% 12/1/2054 <sup>(c)</sup>  | 16419 | 16387 |
| Fannie Mae Pool #MA5583 4.00% 1/1/2055 <sup>(c)</sup>  | 12280 | 11659 |
| Fannie Mae Pool #MA5611 4.00% 2/1/2055 <sup>(c)</sup>  | 928 | 881 |
| Fannie Mae Pool #MA5615 6.00% 2/1/2055 <sup>(c)</sup>  | 1731 | 1778 |
| Fannie Mae Pool #MA5643 4.00% 3/1/2055 <sup>(c)</sup>  | 3547 | 3368 |
| Fannie Mae Pool #MA5644 4.50% 3/1/2055 <sup>(c)</sup>  | 5200 | 5081 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Capital Group Fixed Income ETF Trust<sub>4</sub>

------

Capital Group Core Bond ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #MA5647 6.00% 3/1/2055 <sup>(c)</sup>  | USD<br> 6,236<br>| $6407 |
| Fannie Mae Pool #MA5671 4.50% 4/1/2055 <sup>(c)</sup>  | 5511 | 5384 |
| Fannie Mae Pool #MA5674 6.00% 4/1/2055 <sup>(c)</sup>  | 3175 | 3262 |
| Fannie Mae Pool #MA5701 6.00% 5/1/2055 <sup>(c)</sup>  | 10432 | 10719 |
| Fannie Mae Pool #DE0094 4.00% 6/1/2055 <sup>(c)</sup>  | 873 | 829 |
| Fannie Mae Pool #MA5735 5.50% 6/1/2055 <sup>(c)</sup>  | 57948 | 58803 |
| Fannie Mae Pool #MA5736 6.00% 6/1/2055 <sup>(c)</sup>  | 5547 | 5697 |
| Fannie Mae Pool #MA5737 6.50% 6/1/2055 <sup>(c)</sup>  | 25 | 26 |
| Fannie Mae Pool #MA5789 4.00% 8/1/2055 <sup>(c)</sup>  | 42875 | 40695 |
| Fannie Mae Pool #MA5761 6.00% 7/1/2055 <sup>(c)</sup>  | 5809 | 5969 |
| Fannie Mae Pool #MA5792 5.50% 8/1/2055 <sup>(c)</sup>  | 40951 | 41546 |
| Fannie Mae Pool #MA5820 4.50% 9/1/2055 <sup>(c)</sup>  | 39884 | 38959 |
| Fannie Mae Pool #MA5941 3.50% 1/1/2056 <sup>(c)</sup>  | 7600 | 7046 |
| Fannie Mae Pool #MA5943 4.50% 1/1/2056 <sup>(c)</sup>  | 5900 | 5763 |
| Fannie Mae Pool #BF0765 3.50% 9/1/2063 <sup>(c)</sup>  | 11203 | 10196 |
| Freddie Mac Pool #RA3528 2.50% 9/1/2050 <sup>(c)</sup>  | 653 | 554 |
| Freddie Mac Pool #QB8797 2.50% 2/1/2051 <sup>(c)</sup>  | 261 | 221 |
| Freddie Mac Pool #SD4957 2.00% 3/1/2051 <sup>(c)</sup>  | 32698 | 26738 |
| Freddie Mac Pool #QC3532 2.50% 6/1/2051 <sup>(c)</sup>  | 452 | 383 |
| Freddie Mac Pool #QC5574 2.50% 8/1/2051 <sup>(c)</sup>  | 22 | 18 |
| Freddie Mac Pool #QC6759 2.00% 9/1/2051 <sup>(c)</sup>  | 7629 | 6187 |
| Freddie Mac Pool #QC6225 2.50% 9/1/2051 <sup>(c)</sup>  | 714 | 604 |
| Freddie Mac Pool #SD5485 2.50% 9/1/2051 <sup>(c)</sup>  | 664 | 564 |
| Freddie Mac Pool #RA5759 2.50% 9/1/2051 <sup>(c)</sup>  | 167 | 141 |
| Freddie Mac Pool #QC6597 2.50% 9/1/2051 <sup>(c)</sup>  | 26 | 22 |
| Freddie Mac Pool #QD1841 2.00% 11/1/2051 <sup>(c)</sup>  | 3148 | 2550 |
| Freddie Mac Pool #SD8183 2.50% 12/1/2051 <sup>(c)</sup>  | 2521 | 2148 |
| Freddie Mac Pool #SD8189 2.50% 1/1/2052 <sup>(c)</sup>  | 2180 | 1857 |
| Freddie Mac Pool #SD5892 2.00% 2/1/2052 <sup>(c)</sup>  | 10221 | 8273 |
| Freddie Mac Pool #SD8194 2.50% 2/1/2052 <sup>(c)</sup>  | 2959 | 2518 |
| Freddie Mac Pool #SD8199 2.00% 3/1/2052 <sup>(c)</sup>  | 31939 | 25921 |
| Freddie Mac Pool #QD8010 2.00% 3/1/2052 <sup>(c)</sup>  | 899 | 728 |
| Freddie Mac Pool #SD8204 2.00% 4/1/2052 <sup>(c)</sup>  | 2807 | 2278 |
| Freddie Mac Pool #QE0312 2.00% 4/1/2052 <sup>(c)</sup>  | 910 | 737 |
| Freddie Mac Pool #SD6498 2.50% 4/1/2052 <sup>(c)</sup>  | 4880 | 4141 |
| Freddie Mac Pool #SD8211 2.00% 5/1/2052 <sup>(c)</sup>  | 19216 | 15589 |
| Freddie Mac Pool #SD8212 2.50% 5/1/2052 <sup>(c)</sup>  | 12875 | 10950 |
| Freddie Mac Pool #SD8213 3.00% 5/1/2052 <sup>(c)</sup>  | 36633 | 32538 |
| Freddie Mac Pool #SD8220 3.00% 6/1/2052 <sup>(c)</sup>  | 8639 | 7660 |
| Freddie Mac Pool #SL1634 2.50% 7/1/2052 <sup>(c)</sup>  | 10038 | 8552 |
| Freddie Mac Pool #SD8224 2.50% 7/1/2052 <sup>(c)</sup>  | 8108 | 6896 |
| Freddie Mac Pool #SL2621 2.50% 7/1/2052 <sup>(c)</sup>  | 7880 | 6671 |
| Freddie Mac Pool #SD3632 2.50% 7/1/2052 <sup>(c)</sup>  | 4820 | 4093 |
| Freddie Mac Pool #SD8225 3.00% 7/1/2052 <sup>(c)</sup>  | 12261 | 10873 |
| Freddie Mac Pool #SD5277 3.00% 7/1/2052 <sup>(c)</sup>  | 5272 | 4677 |
| Freddie Mac Pool #SL3327 3.50% 7/1/2052 <sup>(c)</sup>  | 25998 | 24108 |
| Freddie Mac Pool #SD3117 4.00% 7/1/2052 <sup>(c)</sup>  | 2009 | 1918 |
| Freddie Mac Pool #SD5846 2.00% 8/1/2052 <sup>(c)</sup>  | 7662 | 6202 |
| Freddie Mac Pool #SD8234 2.50% 8/1/2052 <sup>(c)</sup>  | 147 | 125 |
| Freddie Mac Pool #SD8235 3.00% 8/1/2052 <sup>(c)</sup>  | 8991 | 7973 |
| Freddie Mac Pool #SD8237 4.00% 8/1/2052 <sup>(c)</sup>  | 725 | 693 |
| Freddie Mac Pool #SD8242 3.00% 9/1/2052 <sup>(c)</sup>  | 2351 | 2084 |
| Freddie Mac Pool #SD8271 2.50% 10/1/2052 <sup>(c)</sup>  | 5616 | 4765 |
| Freddie Mac Pool #SL2622 3.00% 3/1/2053 <sup>(c)</sup>  | 6509 | 5773 |
| Freddie Mac Pool #SD8330 3.00% 3/1/2053 <sup>(c)</sup>  | 6400 | 5671 |
| Freddie Mac Pool #SD8323 5.00% 5/1/2053 <sup>(c)</sup>  | 3495 | 3501 |
| Freddie Mac Pool #SD8324 5.50% 5/1/2053 <sup>(c)</sup>  | 888 | 904 |
| Freddie Mac Pool #SD3432 6.00% 7/1/2053 <sup>(c)</sup>  | 160 | 167 |
| Freddie Mac Pool #SL3161 3.50% 8/1/2053 <sup>(c)</sup>  | 12046 | 11170 |
| Freddie Mac Pool #SD4820 3.00% 10/1/2053 <sup>(c)</sup>  | 6454 | 5717 |
| Freddie Mac Pool #SL1562 3.00% 10/1/2053 <sup>(c)</sup>  | 5940 | 5268 |
| Freddie Mac Pool #SD8379 4.00% 10/1/2053 <sup>(c)</sup>  | 881 | 838 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **5** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Bond ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac Pool #SD4977 5.00% 11/1/2053 <sup>(c)</sup>  | USD<br> 6,776<br>| $6785 |
| Freddie Mac Pool #SD8385 6.50% 12/1/2053 <sup>(c)</sup>  | 22664 | 23579 |
| Freddie Mac Pool #SL1062 2.50% 1/1/2054 <sup>(c)</sup>  | 4901 | 4174 |
| Freddie Mac Pool #SD8397 6.50% 1/1/2054 <sup>(c)</sup>  | 2402 | 2498 |
| Freddie Mac Pool #RJ0854 6.50% 1/1/2054 <sup>(c)</sup>  | 31 | 33 |
| Freddie Mac Pool #SD8402 6.00% 2/1/2054 <sup>(c)</sup>  | 889 | 914 |
| Freddie Mac Pool #QI3333 6.00% 4/1/2054 <sup>(c)</sup>  | 88 | 91 |
| Freddie Mac Pool #SD5692 6.00% 5/1/2054 <sup>(c)</sup>  | 119 | 124 |
| Freddie Mac Pool #SD8439 6.00% 6/1/2054 <sup>(c)</sup>  | 18 | 18 |
| Freddie Mac Pool #RJ1725 6.50% 6/1/2054 <sup>(c)</sup>  | 57 | 60 |
| Freddie Mac Pool #SD8447 6.00% 7/1/2054 <sup>(c)</sup>  | 4678 | 4806 |
| Freddie Mac Pool #SD5896 6.00% 7/1/2054 <sup>(c)</sup>  | 153 | 157 |
| Freddie Mac Pool #RJ1986 6.50% 7/1/2054 <sup>(c)</sup>  | 514 | 535 |
| Freddie Mac Pool #SD8463 6.00% 9/1/2054 <sup>(c)</sup>  | 11022 | 11323 |
| Freddie Mac Pool #SD6652 3.50% 11/1/2054 <sup>(c)</sup>  | 4733 | 4389 |
| Freddie Mac Pool #SD8491 5.00% 12/1/2054 <sup>(c)</sup>  | 7430 | 7418 |
| Freddie Mac Pool #SD8496 6.00% 1/1/2055 <sup>(c)</sup>  | 4687 | 4815 |
| Freddie Mac Pool #SD8507 6.00% 2/1/2055 <sup>(c)</sup>  | 21559 | 22149 |
| Freddie Mac Pool #SD8516 6.00% 3/1/2055 <sup>(c)</sup>  | 8361 | 8591 |
| Freddie Mac Pool #SD8531 4.50% 5/1/2055 <sup>(c)</sup>  | 3900 | 3810 |
| Freddie Mac Pool #RQ0015 6.50% 6/1/2055 <sup>(c)</sup>  | 13330 | 13856 |
| Freddie Mac Pool #RQ0063 5.00% 11/1/2055 <sup>(c)</sup>  | 8041 | 8024 |
| Freddie Mac Pool #RQ0073 4.00% 12/1/2055 <sup>(c)</sup>  | 69 | 66 |
| Freddie Mac Pool #RQ0082 4.00% 1/1/2056 <sup>(c)</sup>  | 28 | 27 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 20-2, Class AC, 2.00% 9/25/2030 <sup>(c)</sup>  | 240 | 220 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 20-3, Class AC, 2.00% 11/25/2030 <sup>(c)</sup>  | 234 | 214 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 21-1, Class AC, 2.25% 5/26/2031 <sup>(c)</sup>  | 226 | 209 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 21-2, Class AD, 2.00% 7/25/2031 <sup>(c)</sup>  | 250 | 224 |
| Uniform Mortgage-Backed Security 4.50% 1/1/2056 <sup>(c)(d)</sup>  | 216 | 211 |
|  |  | 875318 |
| **Collateralized mortgage-backed obligations (privately originated) 3.76%** |  |  |
| Atlas SP, Series 2024-RPL1, Class A1, 3.85% 4/25/2064 (4.85% on 8/1/2028) <sup>(a)(b)(c)</sup>  | 1968 | 1926 |
| BRAVO Residential Funding Trust, Series 2024-RPL1, Class A1, 3.25% 10/25/2063 <sup>(a)(c)(e)</sup>  | 4316 | 4035 |
| BRAVO Residential Funding Trust, Series 2025-NQM5, Class A1, 5.496% 2/25/2065 (6.496% on <br> 5/1/2027) <sup>(a)(b)(c)</sup>  | 2211 | 2230 |
| BRAVO Residential Funding Trust, Series 2025-NQM10, Class A1, 4.868% 9/25/2065 <sup>(a)(c)(e)</sup>  | 7801 | 7826 |
| Bridge Trust, Series 2024-SFR1, Class A, 4.00% 8/17/2040 <sup>(a)(c)</sup>  | 4937 | 4823 |
| Cascade Funding Mortgage Trust, Series 2024-NR1, Class A1, 6.405% 11/25/2029 (9.405% on <br> 11/25/2027) <sup>(a)(b)(c)</sup>  | 6702 | 6711 |
| Cascade Funding Mortgage Trust, Series 2023-HB12, Class M1, 4.25% 4/25/2033 <sup>(a)(c)(e)</sup>  | 500 | 496 |
| Cascade Funding Mortgage Trust, Series 2024-HB13, Class M1, 3.00% 5/25/2034 <sup>(a)(c)(e)</sup>  | 2100 | 2039 |
| Cascade Funding Mortgage Trust, Series 2024-HB13, Class A, 3.00% 5/25/2034 <sup>(a)(c)(e)</sup>  | 588 | 581 |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class A, 4.00% 8/25/2034 <sup>(a)(c)(e)</sup>  | 748 | 746 |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class M1, 4.00% 8/25/2034 <sup>(a)(c)(e)</sup>  | 291 | 286 |
| Cascade Funding Mortgage Trust, Series 2024-RM5, Class A, 4.00% 10/25/2054 <sup>(a)(c)(e)</sup>  | 4537 | 4454 |
| Cascade Funding Mortgage Trust, Series 2024-R1, Class A1, 4.00% 10/25/2054 (5.00% on 10/25/2028) <sup>(a)(b)(c)</sup>  | 2136 | 2115 |
| Cascade Funding Mortgage Trust, Series 2024-R1, Class A2, 4.00% 10/25/2054 (5.00% on 10/25/2028) <sup>(a)(b)(c)</sup>  | 300 | 293 |
| CIM Trust, Series 2023-R1, Class A1A, 5.40% 4/25/2062 <sup>(a)(c)(e)</sup>  | 3466 | 3455 |
| CIM Trust, Series 2025-R1, Class A1, 5.00% 2/25/2099 (8.00% on 3/1/2028) <sup>(a)(b)(c)</sup>  | 1388 | 1385 |
| Connecticut Avenue Securities Trust, Series 2023-R01, Class 1M1, (30-day Average USD-SOFR + 2.40%) <br> 6.274% 12/25/2042 <sup>(a)(c)(e)</sup>  | 203 | 207 |
| Connecticut Avenue Securities Trust, Series 2023-R04, Class 1M1, (30-day Average USD-SOFR + 2.30%) <br> 6.174% 5/25/2043 <sup>(a)(c)(e)</sup>  | 280 | 285 |
| Connecticut Avenue Securities Trust, Series 2024-R01, Class 1M1, (30-day Average USD-SOFR + 1.05%) <br> 4.924% 1/25/2044 <sup>(a)(c)(e)</sup>  | 67 | 67 |
| Connecticut Avenue Securities Trust, Series 2024-R02, Class 1M1, (30-day Average USD-SOFR + 1.10%) <br> 4.974% 2/25/2044 <sup>(a)(c)(e)</sup>  | 71 | 71 |
| Connecticut Avenue Securities Trust, Series 2024-R04, Class 1A1, (30-day Average USD-SOFR + 1.00%) <br> 4.874% 5/25/2044 <sup>(a)(c)(e)</sup>  | 243 | 243 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Capital Group Fixed Income ETF Trust<sub>6</sub>

------

Capital Group Core Bond ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Collateralized mortgage-backed obligations (privately originated) (continued)** |  |  |
| Connecticut Avenue Securities Trust, Series 2024-R04, Class 1M1, (30-day Average USD-SOFR + 1.10%) <br> 4.974% 5/25/2044 <sup>(a)(c)(e)</sup>  | USD<br> 126<br>| $126 |
| Connecticut Avenue Securities Trust, Series 2024-R06, Class 1M1, (30-day Average USD-SOFR + 1.05%) <br> 4.924% 9/25/2044 <sup>(a)(c)(e)</sup>  | 43 | 43 |
| Connecticut Avenue Securities Trust, Series 2024-R06, Class 1M2, (30-day Average USD-SOFR + 1.60%) <br> 5.474% 9/25/2044 <sup>(a)(c)(e)</sup>  | 412 | 413 |
| Connecticut Avenue Securities Trust, Series 2025-R02, Class 1A1, (30-day Average USD-SOFR + 1.00%) <br> 4.874% 2/25/2045 <sup>(a)(c)(e)</sup>  | 570 | 571 |
| Connecticut Avenue Securities Trust, Series 2025-R02, Class 1M1, (30-day Average USD-SOFR + 1.15%) <br> 5.024% 2/25/2045 <sup>(a)(c)(e)</sup>  | 989 | 991 |
| Finance of America HECM Buyout, Series 24-HB1, Class A1A, 4.00% 10/1/2034 <sup>(a)(c)(e)</sup>  | 252 | 252 |
| Finance of America Structured Securities Trust, Series 2025-PC1, Class A1, 4.50% 5/25/2075 <sup>(a)(c)</sup>  | 2984 | 2892 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA1, Class A1, (30-day Average <br> USD-SOFR + 1.35%) 5.224% 2/25/2044 <sup>(a)(c)(e)</sup>  | 408 | 409 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA2, Class M1, (30-day Average <br> USD-SOFR + 1.20%) 5.074% 5/25/2044 <sup>(a)(c)(e)</sup>  | 1059 | 1060 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA2, Class A1, (30-day Average <br> USD-SOFR + 1.25%) 5.124% 5/25/2044 <sup>(a)(c)(e)</sup>  | 1374 | 1379 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2025-DNA2, Class A1, (30-day Average <br> USD-SOFR + 1.10%) 4.974% 5/25/2045 <sup>(a)(c)(e)</sup>  | 1132 | 1135 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2025-DNA3, Class A1, (30-day Average <br> USD-SOFR + 0.95%) 4.824% 9/25/2045 <sup>(a)(c)(e)</sup>  | 1469 | 1470 |
| GCAT Trust, Series 2024-NQM1, Class A1, 6.007% 1/25/2059 (7.007% on 1/1/2028) <sup>(a)(b)(c)</sup>  | 144 | 146 |
| GCAT Trust, Series 2024-NQM2, Class A1, 6.085% 6/25/2059 (7.359% on 5/1/2028) <sup>(a)(b)(c)</sup>  | 267 | 270 |
| GS Mortgage-Backed Securities Trust, Series 2024-RPL2, Class A1, 3.75% 7/25/2061 (4.75% on <br> 2/1/2028) <sup>(a)(b)(c)</sup>  | 220 | 216 |
| JP Morgan Mortgage Trust, Series 2016-3, Class B2, 3.306% 10/25/2046 <sup>(a)(c)(e)</sup>  | 205 | 200 |
| JP Morgan Mortgage Trust, Series 2019-6, Class B3, 4.261% 12/25/2049 <sup>(a)(c)(e)</sup>  | 1030 | 972 |
| JPMorgan Mortgage Trust, Series 2017-1, Class B2, 3.445% 1/25/2047 <sup>(a)(c)(e)</sup>  | 390 | 357 |
| Legacy Mortgage Asset Trust, Series 2021-GS4, Class A1, 5.65% 11/25/2060 <sup>(a)(b)(c)</sup>  | 1628 | 1631 |
| Legacy Mortgage Asset Trust, Series 2021-GS3, Class A1, 5.75% 7/25/2061 <sup>(a)(b)(c)</sup>  | 1377 | 1378 |
| Legacy Mortgage Asset Trust, Series 2021-GS1, Class A1, 5.892% 10/25/2066 <sup>(a)(b)(c)</sup>  | 6289 | 6296 |
| Legacy Mortgage Asset Trust, Series 2021-GS5, Class A1, 6.25% 7/25/2067 <sup>(a)(b)(c)</sup>  | 283 | 284 |
| MFRA Trust, Series 2025-NQM3, Class A1, 5.261% 8/25/2070 (6.261% on 7/1/2029) <sup>(a)(b)(c)</sup>  | 2378 | 2385 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2024-NQM2, Class A1, 6.386% 5/25/2069 (7.386% <br> on 5/1/2028) <sup>(a)(b)(c)</sup>  | 1659 | 1681 |
| New Residential Mortgage Loan Trust, Series 2025-NQM2, Class A1, 5.566% 4/25/2065 <sup>(a)(b)(c)</sup>  | 2315 | 2342 |
| New York Mortgage Trust, Series 2024-CP1, Class A1, 3.75% 2/25/2068 <sup>(a)(c)(e)</sup>  | 127 | 119 |
| Ocwen Loan Investment Trust, Series 2024-HB1, Class A, 3.00% 2/25/2037 <sup>(a)(c)</sup>  | 491 | 484 |
| Onslow Bay Financial Mortgage Loan Trust, Series 2024-HYB1, Class A1, 3.637% 3/25/2053 <sup>(a)(c)(e)</sup>  | 224 | 224 |
| Onslow Bay Financial Mortgage Loan Trust, Series 2025-NQM8, Class A1, 5.472% 3/25/2065 (6.472% on <br> 5/1/2029) <sup>(a)(b)(c)</sup>  | 3631 | 3664 |
| Onslow Bay Financial, LLC, Series 2024-HYB2, Class A1, 3.695% 4/25/2053 <sup>(a)(c)(e)</sup>  | 487 | 483 |
| Onslow Bay Financial, LLC, Series 2022-NQM6, Class A1, 4.70% 7/25/2062 (5.70% on 6/1/2026) <sup>(a)(b)(c)</sup>  | 1662 | 1653 |
| Onslow Bay Financial, LLC, Series 2024-NQM1, Class A1, 5.928% 11/25/2063 (6.928% on 12/1/2027) <sup>(a)(b)(c)</sup>  | 210 | 211 |
| Onslow Bay Financial, LLC, Series 2024-NQM5, Class A1, 5.988% 1/25/2064 (6.988% on 3/1/2028) <sup>(a)(b)(c)</sup>  | 236 | 238 |
| Onslow Bay Financial, LLC, Series 2024-NQM4, Class A1, 6.067% 1/25/2064 (7.067% on 2/1/2028) <sup>(a)(b)(c)</sup>  | 230 | 233 |
| Onslow Bay Financial, LLC, Series 2024-NQM7, Class A1, 6.243% 3/25/2064 (7.243% on 4/1/2028) <sup>(a)(b)(c)</sup>  | 331 | 335 |
| Onslow Bay Financial, LLC, Series 2024-NQM8, Class A1, 6.233% 5/25/2064 (7.233% on 5/1/2028) <sup>(a)(b)(c)</sup>  | 2631 | 2664 |
| Onslow Bay Financial, LLC, Series 2024-NQM17, Class A1, 5.61% 11/25/2064 (6.61% on 11/1/2028) <sup>(a)(b)(c)</sup>  | 1093 | 1104 |
| Onslow Bay Financial, LLC, Series 2025-NQM1, Class A1, 5.547% 12/25/2064 (6.547% on 12/1/2028) <sup>(a)(b)(c)</sup>  | 2530 | 2553 |
| Onslow Bay Financial, LLC, Series 2025-NQM14, Class A1A, 5.162% 7/25/2065 (6.162% on 7/1/2029) <sup>(a)(b)(c)</sup>  | 2191 | 2203 |
| Onslow Bay Financial, LLC, Series 2025-NQM16, Class A1A, 4.905% 8/25/2065 (5.905% on 9/1/2029) <sup>(a)(b)(c)</sup>  | 5784 | 5794 |
| Onslow Bay Financial, LLC, Series 2025-NQM19, Class A1, 4.869% 10/25/2065 <sup>(a)(c)(e)</sup>  | 6706 | 6722 |
| PMT Loan Trust, Series 2024-INV1, Class A2, 6.00% 10/25/2059 <sup>(a)(c)(e)</sup>  | 651 | 664 |
| Progress Residential Trust, Series 2021-SFR6, Class A, 1.524% 7/17/2038 <sup>(a)(c)</sup>  | 390 | 385 |
| Progress Residential Trust, Series 2025-SFR3, Class B, 3.39% 7/17/2042 <sup>(a)(c)</sup>  | 4000 | 3755 |
| Progress Residential Trust, Series 2025-SFR3, Class D, 3.39% 7/17/2042 <sup>(a)(c)</sup>  | 3000 | 2760 |
| Progress Residential Trust, Series 2025-SFR3, Class A, 3.39% 7/17/2042 <sup>(a)(c)</sup>  | 1495 | 1426 |
| PRP Advisors, LLC, Series 2025-RPL3, Class A1, 3.25% 4/25/2055 (4.25% on 4/1/2028) <sup>(a)(b)(c)</sup>  | 877 | 851 |
| Sequoia Mortgage Trust, Series 2025-HYB1, Class A1A, 5.061% 10/25/2055 <sup>(a)(c)(e)</sup>  | 3918 | 3934 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **7** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Bond ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Collateralized mortgage-backed obligations (privately originated) (continued)** |  |  |
| Starwood Mortgage Residential Trust, Series 2025-SFR5, Class A, (1-month USD CME Term SOFR + 1.45%) <br> 5.201% 2/17/2042 <sup>(a)(c)(e)</sup>  | USD<br> 300<br>| $300 |
| Starwood Mortgage Residential Trust, Series 2025-SFR5, Class B, (1-month USD CME Term SOFR + 1.75%) <br> 5.501% 2/17/2042 <sup>(a)(c)(e)</sup>  | 2500 | 2504 |
| Towd Point Mortgage Trust, Series 2019-HY1, Class A1, (1-month USD CME Term SOFR + 1.115%) 4.846% <br> 10/25/2048 <sup>(a)(c)(e)</sup>  | 3630 | 3639 |
| Towd Point Mortgage Trust, Series 2015-5, Class B1, 3.988% 5/25/2055 <sup>(a)(c)(e)</sup>  | 2490 | 2467 |
| Towd Point Mortgage Trust, Series 2019-HY2, Class A1, (1-month USD CME Term SOFR + 1.114%) 4.846% <br> 5/25/2058 <sup>(a)(c)(e)</sup>  | 1723 | 1756 |
| Towd Point Mortgage Trust, Series 2019-HY3, Class A1A, (1-month USD CME Term SOFR + 1.115%) 4.846% <br> 10/25/2059 <sup>(a)(c)(e)</sup>  | 1894 | 1897 |
| Towd Point Mortgage Trust, Series 2024-3, Class A1A, 5.03% 7/25/2065 <sup>(a)(c)(e)</sup>  | 1064 | 1075 |
| Verus Securitization Trust, Series 2024-3, Class A1, 6.338% 4/25/2069 (7.338% on 4/1/2028) <sup>(a)(b)(c)</sup>  | 590 | 597 |
| Verus Securitization Trust, Series 2024-4, Class A1, 6.218% 6/25/2069 (7.218% on 5/1/2028) <sup>(a)(b)(c)</sup>  | 656 | 665 |
| Verus Securitization Trust, Series 2024-R1, Class A1, 5.218% 9/25/2069 <sup>(a)(c)(e)</sup>  | 738 | 740 |
| Verus Securitization Trust, Series 2025-7, Class A1, 5.129% 8/25/2070 (6.129% on 8/1/2029) <sup>(a)(b)(c)</sup>  | 3390 | 3406 |
| Verus Securitization Trust, Series 2025-8, Class A1A, 4.869% 9/25/2070 (5.869% on 9/1/2029) <sup>(a)(b)(c)</sup>  | 2862 | 2865 |
|  |  | 137543 |
| **Commercial mortgage-backed securities 3.59%** |  |  |
| ALA Trust, Series 2025-OANA, Class A, (1-month USD CME Term SOFR + 1.743%) 5.494% 6/15/2030 <sup>(a)(c)(e)</sup>  | 4260 | 4283 |
| AMSR Trust, Series 2025-SFR1, Class A, 3.655% 6/17/2042 <sup>(a)(c)</sup>  | 4423 | 4272 |
| AMSR Trust, Series 2025-SFR1, Class C, 3.655% 6/17/2042 <sup>(a)(c)</sup>  | 878 | 831 |
| AMSR Trust, Series 2025-SFR1, Class D, 3.655% 6/17/2042 <sup>(a)(c)</sup>  | 852 | 799 |
| AMSR Trust, Series 2025-SFR1, Class B, 3.655% 6/17/2042 <sup>(a)(c)</sup>  | 396 | 379 |
| AMSR Trust, Series 2025-SFR2, Class A, 4.275% 11/17/2042 <sup>(a)(c)</sup>  | 4452 | 4391 |
| ARES Commercial Mortgage Trust, Series 24-IND, Class A, (1-month USD CME Term SOFR + 1.69%) 5.442% <br> 7/15/2041 <sup>(a)(c)(e)</sup>  | 447 | 448 |
| Atrium Hotel Portfolio Trust, Series 2024-ATRM, Class A, 5.589% 11/10/2029 <sup>(a)(c)(e)</sup>  | 1870 | 1910 |
| Bank Commercial Mortgage Trust, Series 2019-BN19, Class A3, 3.183% 8/15/2061 <sup>(c)</sup>  | 35 | 33 |
| Benchmark Mortgage Trust, Series 2018-B2, Class A5, 3.882% 2/15/2051 <sup>(c)(e)</sup>  | 38 | 38 |
| Benchmark Mortgage Trust, Series 2021-B25, Class A5, 2.577% 4/15/2054 <sup>(c)</sup>  | 250 | 225 |
| Benchmark Mortgage Trust, Series 2024-V5, Class AM, 6.417% 1/10/2057 <sup>(c)(e)</sup>  | 118 | 123 |
| Benchmark Mortgage Trust, Series 2024-V9, Class A3, 5.602% 8/15/2057 <sup>(c)</sup>  | 689 | 716 |
| BFLD Trust, Series 2025-5MW, Class A, 4.674% 10/10/2042 <sup>(a)(c)(e)</sup>  | 7318 | 7326 |
| BLP Commercial Mortgage Trust, Series 2024-IND2, Class A, (1-month USD CME Term SOFR + 1.342%) <br> 5.092% 3/15/2041 <sup>(a)(c)(e)</sup>  | 269 | 269 |
| BMO Mortgage Trust, Series 2024-5C5, Class AS, 6.364% 2/15/2057 <sup>(c)(e)</sup>  | 985 | 1033 |
| BMO Mortgage Trust, Series 2025-5C9, Class AS, 6.165% 4/15/2058 <sup>(c)(e)</sup>  | 1485 | 1558 |
| BMP Trust, Series 2024-MF23, Class A, (1-month USD CME Term SOFR + 1.372%) 5.122% 6/15/2041 <sup>(a)(c)(e)</sup>  | 1996 | 2001 |
| BX Commercial Mortgage Trust, Series 2024-GPA3, Class A, (1-month USD CME Term SOFR + 1.293%) <br> 5.044% 12/15/2039 <sup>(a)(c)(e)</sup>  | 1853 | 1856 |
| BX Trust, Series 2024-KING, Class A, (1-month USD CME Term SOFR + 1.541%) 5.291% 5/15/2034 <sup>(a)(c)(e)</sup>  | 655 | 656 |
| BX Trust, Series 2022-AHP, Class A, (1-month USD CME Term SOFR + 0.99%) 4.74% 1/17/2039 <sup>(a)(c)(e)</sup>  | 1500 | 1499 |
| BX Trust, Series 2024-BIO2, Class A, 5.413% 8/13/2041 <sup>(a)(c)(e)</sup>  | 4754 | 4823 |
| BX Trust, Series 2024-AIRC, Class A, (1-month USD CME Term SOFR + 1.691%) 5.442% 8/15/2039 <sup>(a)(c)(e)</sup>  | 2318 | 2325 |
| BX Trust, Series 2024-FNX, Class A, (1-month USD CME Term SOFR + 1.442%) 5.192% 11/15/2041 <sup>(a)(c)(e)</sup>  | 2805 | 2810 |
| BX Trust, Series 2025-BIO3, Class A, 6.138% 2/10/2042 <sup>(a)(c)</sup>  | 3926 | 4035 |
| BX Trust, Series 2025-ARIA, Class A, 5.031% 12/13/2042 <sup>(a)(c)(e)</sup>  | 7000 | 7072 |
| BX Trust, Series 2025-VOLT, Class A, (1-month USD CME Term SOFR + 1.70%) 5.70% 12/15/2044 <sup>(a)(c)(e)</sup>  | 9041 | 9063 |
| CALI Mortgage Trust, Series 24-SUN, Class A, (1-month USD CME Term SOFR + 1.89%) 5.641% <br> 7/15/2041 <sup>(a)(c)(e)</sup>  | 994 | 997 |
| CART, Series 2024-DFW1, Class A, (1-month USD CME Term SOFR + 1.642%) 5.392% 8/15/2041 <sup>(a)(c)(e)</sup>  | 1613 | 1613 |
| CD Commercial Mortgage Trust, Series 2017-CD6, Class A5, 3.456% 11/13/2050 <sup>(c)</sup>  | 312 | 308 |
| Citigroup Commercial Mortgage Trust, Series 2016-GC37, Class A4, 3.314% 4/10/2049 <sup>(c)</sup>  | 66 | 66 |
| CSAIL Commercial Mortgage Trust, Series 2017-CX9, Class A4, 3.176% 9/15/2050 <sup>(c)</sup>  | 319 | 314 |
| CSAIL Commercial Mortgage Trust, Series 2017-CX10, Class A4, 3.191% 11/15/2050 <sup>(c)</sup>  | 56 | 55 |
| Durst Commercial Mortgage Trust, Series 2025-151, Class A, 5.317% 8/10/2042 <sup>(a)(c)(e)</sup>  | 3578 | 3654 |
| ELM Trust 2024, Series 2024-ELM, Class B10, 6.195% 6/10/2039 <sup>(a)(c)(e)</sup>  | 1057 | 1063 |
| ELM Trust 2024, Series 2024-ELM, Class B15, 6.195% 6/10/2039 <sup>(a)(c)(e)</sup>  | 949 | 955 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Capital Group Fixed Income ETF Trust<sub>8</sub>

------

Capital Group Core Bond ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities (continued)** |  |  |
| ELM Trust 2024, Series 2024-ELM, Class C15, 6.396% 6/10/2039 <sup>(a)(c)(e)</sup>  | USD<br> 661<br>| $665 |
| ELM Trust 2024, Series 2024-ELM, Class C10, 6.396% 6/10/2039 <sup>(a)(c)(e)</sup>  | 595 | 598 |
| ELM Trust 2024, Series 2024-ELM, Class D10, 6.847% 6/10/2039 <sup>(a)(c)(e)</sup>  | 234 | 235 |
| ELM Trust 2024, Series 2024-ELM, Class D15, 6.897% 6/10/2039 <sup>(a)(c)(e)</sup>  | 210 | 211 |
| Extended Stay America Trust, Series 2025-ESH, Class A, (1-month USD CME Term SOFR + 1.30%) 5.05% <br> 10/15/2042 <sup>(a)(c)(e)</sup>  | 2654 | 2662 |
| Fontainebleau Miami Beach Trust, Series 2024-FBLU, Class A, (1-month USD CME Term SOFR + 1.45%) 5.20% <br> 12/15/2039 <sup>(a)(c)(e)</sup>  | 1067 | 1071 |
| Great Wolf Trust, Series 2024-WLF2, Class A, (1-month USD CME Term SOFR + 1.691%) 5.441% <br> 5/15/2041 <sup>(a)(c)(e)</sup>  | 1446 | 1452 |
| GS Mortgage Securities Trust, Series 2024-70P, Class A, 5.487% 3/10/2041 <sup>(a)(c)(e)</sup>  | 479 | 485 |
| GS Mortgage Securities Trust, Series 2017-GS6, Class A3, 3.433% 5/10/2050 <sup>(c)</sup>  | 378 | 374 |
| Hawaii Hotel Trust, Series 2025-MAUI, Class A, (1-month USD CME Term SOFR + 1.393%) 5.143% <br> 3/15/2042 <sup>(a)(c)(e)</sup>  | 2177 | 2182 |
| Hawaii Hotel Trust, Series 2025-MAUI, Class B, (1-month USD CME Term SOFR + 1.742%) 5.492% <br> 3/15/2042 <sup>(a)(c)(e)</sup>  | 1040 | 1043 |
| Hawaii Hotel Trust, Series 2025-MAUI, Class C, (1-month USD CME Term SOFR + 2.042%) 5.792% <br> 3/15/2042 <sup>(a)(c)(e)</sup>  | 633 | 636 |
| Hawaii Hotel Trust, Series 2025-MAUI, Class D, (1-month USD CME Term SOFR + 2.591%) 6.341% <br> 3/15/2042 <sup>(a)(c)(e)</sup>  | 1222 | 1229 |
| Hilton USA Trust, Series 2024-ORL, Class A, (1-month USD CME Term SOFR + 1.541%) 5.291% <br> 5/15/2037 <sup>(a)(c)(e)</sup>  | 1500 | 1504 |
| Houston Galleria Mall Trust, Series 2025-HGLR, Class A, 5.462% 2/5/2045 <sup>(a)(c)(e)</sup>  | 2271 | 2357 |
| HTL Commercial Mortgage Trust, Series 2024-T53, Class A, 5.876% 5/10/2039 <sup>(a)(c)(e)</sup>  | 177 | 179 |
| HTL Commercial Mortgage Trust, Series 2024-T53, Class B, 6.555% 5/10/2039 <sup>(a)(c)(e)</sup>  | 594 | 603 |
| HTL Commercial Mortgage Trust, Series 2024-T53, Class C, 7.088% 5/10/2039 <sup>(a)(c)(e)</sup>  | 189 | 192 |
| Hudson Yards Mortgage Trust, Series 2025-SPRL, Class A, 5.467% 1/13/2040 <sup>(a)(c)(e)</sup>  | 3582 | 3717 |
| INTOWN Mortgage Trust, Series 2025-STAY, Class A, (1-month USD CME Term SOFR + 1.35%) 5.10% <br> 3/15/2042 <sup>(a)(c)(e)</sup>  | 4991 | 5003 |
| JW Commercial Mortgage Trust 2024-MRCO, Series 2024-BERY, Class A, (1-month USD CME Term SOFR + <br> 1.593%) 5.343% 11/15/2039 <sup>(a)(c)(e)</sup>  | 921 | 924 |
| KSL Commercial Mortgage Trust, Series 2024-HT2, Class A, (1-month USD CME Term SOFR + 1.542%) <br> 5.293% 12/15/2039 <sup>(a)(c)(e)</sup>  | 3867 | 3871 |
| LV Trust, Series 2024-SHOW, Class A, 5.104% 10/10/2041 <sup>(a)(c)(e)</sup>  | 2549 | 2590 |
| Morgan Stanley Bank of America Merrill Lynch Trust, Series 2025-5C1, Class AS, 6.011% 3/15/2058 <sup>(c)</sup>  | 2168 | 2255 |
| Multifamily Connecticut Avenue Securities, Series 2023-01, Class M7, (30-day Average USD-SOFR + 4.00%) <br> 7.874% 11/25/2053 <sup>(a)(c)(e)</sup>  | 2276 | 2348 |
| Multifamily Connecticut Avenue Securities, Series 2024-01, Class M7, (30-day Average USD-SOFR + 2.75%) <br> 6.624% 7/25/2054 <sup>(a)(c)(e)</sup>  | 590 | 598 |
| Multifamily Connecticut Avenue Securities, Series 2025-01, Class M1, (30-day Average USD-SOFR + 2.40%) <br> 6.274% 5/25/2055 <sup>(a)(c)(e)</sup>  | 721 | 725 |
| NY Commercial Mortgage Trust, Series 2025-299P, Class A, 5.664% 2/10/2047 <sup>(a)(c)(e)</sup>  | 2059 | 2168 |
| NYC Commercial Mortgage Trust, Series 2025-28L, Class A, 4.669% 11/5/2038 <sup>(a)(c)(e)</sup>  | 3825 | 3836 |
| SDR Commercial Mortgage Trust, Series 2024-DSNY, Class A, (1-month USD CME Term SOFR + 1.392%) <br> 5.142% 5/15/2039 <sup>(a)(c)(e)</sup>  | 354 | 354 |
| SFO Commerical Mortgage Trust, Series 2021-555, Class A, (1-month USD CME Term SOFR + 1.264%) <br> 5.015% 5/15/2038 (1-month USD CME Term SOFR + 1.514% on 5/15/2026) <sup>(a)(b)(c)</sup>  | 1750 | 1748 |
| SWCH Commercial Mortgage Trust, Series 2025-DATA, Class A, (1-month USD CME Term SOFR + 1.443%) <br> 5.193% 2/15/2042 <sup>(a)(c)(e)</sup>  | 8074 | 8011 |
| UBS Commercial Mortgage Trust, Series 2017-C2, Class A4, 3.487% 8/15/2050 <sup>(c)</sup>  | 250 | 247 |
| Wells Fargo Commercial Mortgage Trust, Series 2025-1918, Class A, 5.761% 9/15/2040 <sup>(a)(c)(e)</sup>  | 691 | 698 |
| Wells Fargo Commercial Mortgage Trust, Series 2017-C39, Class A5, 3.418% 9/15/2050 <sup>(c)</sup>  | 421 | 414 |
| Wells Fargo Commercial Mortgage Trust, Series 2017-C40, Class AS, 3.854% 10/15/2050 <sup>(c)(e)</sup>  | 300 | 293 |
|  |  | 131277 |
| **Total mortgage-backed obligations** |  | 1144138 |
| **U.S. Treasury bonds & notes 14.49%** | **U.S. Treasury bonds & notes 14.49%** | **U.S. Treasury bonds & notes 14.49%** |
| **U.S. Treasury 14.49%** |  |  |
| U.S. Treasury 4.125% 10/31/2029  | 15450 | 15717 |
| U.S. Treasury 3.625% 9/30/2030  | 11750 | 11707 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **9** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Bond ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. Treasury bonds & notes (continued)** | **U.S. Treasury bonds & notes (continued)** | **U.S. Treasury bonds & notes (continued)** |
| **U.S. Treasury (continued)** |  |  |
| U.S. Treasury 4.125% 3/31/2031  | USD<br> 440<br>| $448 |
| U.S. Treasury 4.125% 10/31/2031  | 7170 | 7283 |
| U.S. Treasury 4.375% 1/31/2032  | 11124 | 11439 |
| U.S. Treasury 4.125% 5/31/2032  | 10485 | 10627 |
| U.S. Treasury 4.00% 2/15/2034  | 605 | 604 |
| U.S. Treasury 4.25% 8/15/2035  | 8420 | 8487 |
| U.S. Treasury 1.125% 5/15/2040 <sup>(f)</sup>  | 107822 | 68576 |
| U.S. Treasury 4.75% 2/15/2041  | 4570 | 4659 |
| U.S. Treasury 4.625% 5/15/2044  | 87400 | 85950 |
| U.S. Treasury 5.00% 5/15/2045  | 25356 | 26068 |
| U.S. Treasury 4.625% 11/15/2045  | 31090 | 30420 |
| U.S. Treasury 2.375% 11/15/2049  | 27060 | 17420 |
| U.S. Treasury 2.00% 2/15/2050  | 119280 | 70112 |
| U.S. Treasury 3.00% 8/15/2052 <sup>(f)</sup>  | 62540 | 44898 |
| U.S. Treasury 3.625% 5/15/2053  | 35400 | 28696 |
| U.S. Treasury 4.75% 5/15/2055  | 67404 | 66386 |
| U.S. Treasury 4.75% 8/15/2055  | 20290 | 19992 |
|  |  | 529489 |
| **Total U.S. Treasury bonds & notes** |  | 529489 |
| **Asset-backed obligations 9.29%** | **Asset-backed obligations 9.29%** | **Asset-backed obligations 9.29%** |
| **Other asset-backed securities 4.54%** |  |  |
| ACHV ABS Trust, Series 2024-2PL, Class A, 5.07% 10/27/2031 <sup>(a)(c)</sup>  | 744 | 748 |
| Affirm Asset Securitization Trust, Series 2025-X2, Class B, 4.56% 10/15/2030 <sup>(a)(c)</sup>  | 1062 | 1067 |
| Affirm Asset Securitization Trust, Series 2025-X2, Class C, 4.93% 10/15/2030 <sup>(a)(c)</sup>  | 821 | 825 |
| Affirm Master Trust, Series 2025-3A, Class A, 4.45% 10/16/2034 <sup>(a)(c)</sup>  | 2430 | 2440 |
| Affirm, Inc., Series 2024, Class 1A, 5.61% 2/15/2029 <sup>(a)(c)</sup>  | 3143 | 3148 |
| Affirm, Inc., Series 2024-A, Class A, 5.61% 2/15/2029 <sup>(a)(c)</sup>  | 139 | 139 |
| APL Finance, LLC, Series 2025-1A, Class A, 4.81% 3/20/2036 <sup>(a)(c)</sup>  | 1617 | 1624 |
| Apollo Aviation Securitization Equity Trust, Series 25-1A, Class A, 5.943% 2/16/2050 <sup>(a)(c)</sup>  | 1054 | 1076 |
| Auxilior Term Funding, LLC, Series 24-1, Class A2, 5.84% 3/15/2027 <sup>(a)(c)</sup>  | 58 | 58 |
| Auxilior Term Funding, LLC, Series 2023-1A, Class A3, 5.70% 2/15/2030 <sup>(a)(c)</sup>  | 170 | 172 |
| Auxilior Term Funding, LLC, Series 24-1, Class A3, 5.49% 7/15/2031 <sup>(a)(c)</sup>  | 613 | 624 |
| AXIS Equipment Finance Receivables, LLC, Series 2025-1A, Class A2, 4.70% 9/22/2031 <sup>(a)(c)</sup>  | 2408 | 2435 |
| Bankers Healthcare Group Securitization Trust, Series 2021-A, Class A, 1.42% 11/17/2033 <sup>(a)(c)</sup>  | 38 | 38 |
| Beacon Container Finance II, LLC, Series 2021-1A, Class A, 2.25% 10/22/2046 <sup>(a)(c)</sup>  | 3142 | 2943 |
| Blue Owl Asset Leasing Trust, Series 2024-1A, Class A2, 5.05% 3/15/2029 <sup>(a)(c)</sup>  | 284 | 286 |
| Blue Owl Asset Leasing Trust, Series 2024-1A, Class C, 6.38% 1/15/2031 <sup>(a)(c)</sup>  | 139 | 142 |
| Business Jet Securities, LLC, Series 2024-2A, Class A, 5.346% 9/15/2039 <sup>(a)(c)</sup>  | 1017 | 1026 |
| CAL Funding IV, Ltd., Series 2020-1A, Class A, 2.22% 9/25/2045 <sup>(a)(c)</sup>  | 1832 | 1760 |
| Capteris Equipment Finance, Series 2024-1, Class A2, 5.58% 7/20/2032 <sup>(a)(c)</sup>  | 1561 | 1591 |
| Castlelake Aircraft Securitization Trust, Series 2025-1A, Class A, 5.783% 2/15/2050 <sup>(a)(c)</sup>  | 3214 | 3270 |
| Castlelake Aircraft Securitization Trust, Series 2025-3A, Class A, 5.087% 11/15/2050 <sup>(a)(c)</sup>  | 7341 | 7375 |
| CCG Receivables Trust, Series 2025-1, Class D, 5.28% 10/14/2032 <sup>(a)(c)</sup>  | 201 | 203 |
| CF Hippolyta, LLC, Series 2020-1, Class A1, 1.69% 7/15/2060 <sup>(a)(c)</sup>  | 4996 | 4245 |
| CF Hippolyta, LLC, Series 2021-1, Class A1, 1.53% 3/15/2061 <sup>(a)(c)</sup>  | 4471 | 3634 |
| Clarus Capital Funding, LLC, Series 2024-1A, Class A2, 4.71% 8/20/2032 <sup>(a)(c)</sup>  | 716 | 718 |
| Clarus Capital Funding, LLC, Series 2024-1A, Class B, 4.79% 8/20/2032 <sup>(a)(c)</sup>  | 1691 | 1700 |
| CLI Funding VI, LLC, Series 2020-3A, Class A, 2.07% 10/18/2045 <sup>(a)(c)</sup>  | 401 | 380 |
| CLI Funding VIII, LLC, Series 2021-1A, Class A, 2.38% 2/18/2046 <sup>(a)(c)</sup>  | 1296 | 1206 |
| CLI Funding VIII, LLC, Series 2022-1, Class A, 2.72% 1/18/2047 <sup>(a)(c)</sup>  | 3682 | 3434 |
| Commercial Equipment Finance, Series 2024-1, Class A, 5.97% 7/16/2029 <sup>(a)(c)</sup>  | 137 | 138 |
| Commercial Equipment Finance, Series 2025-1A, Class A, 4.83% 5/15/2031 <sup>(a)(c)</sup>  | 3315 | 3332 |
| Crossroads Asset Trust, Series 2024-A, Class A2, 5.90% 8/20/2030 <sup>(a)(c)</sup>  | 306 | 309 |
| EquipmentShare, Series 2024-2M, Class A, 5.70% 12/20/2032 <sup>(a)(c)</sup>  | 2032 | 2064 |
| EquipmentShare, Series 2024-2M, Class B, 6.43% 12/20/2032 <sup>(a)(c)</sup>  | 1295 | 1302 |
| EquipmentShare, Series 2025-1M, Class A, 5.48% 9/26/2033 <sup>(a)(c)</sup>  | 2093 | 2108 |
| Frontier Issuer, LLC, Series 2023-1, Class A2, 6.60% 8/20/2053 <sup>(a)(c)</sup>  | 3910 | 3947 |
| GGAM Master Trust International, Ltd., Series 2025-1A, Class A, 5.923% 9/30/2060 <sup>(a)(c)</sup>  | 3055 | 3081 |
| Global SC Finance SRL, Series 2025-1H, Class A, 6.169% 9/20/2045 <sup>(a)(c)</sup>  | 4249 | 4260 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Capital Group Fixed Income ETF Trust<sub>10</sub>

------

Capital Group Core Bond ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| **Other asset-backed securities (continued)** |  |  |
| Global SC Finance V SRL, Series 2020-1A, Class A, 2.17% 10/17/2040 <sup>(a)(c)</sup>  | USD<br> 105<br>| $101 |
| Global SC Finance VII SRL, Series 2020-2A, Class A, 2.26% 11/19/2040 <sup>(a)(c)</sup>  | 109 | 105 |
| Global SC Finance VII SRL, Series 2021-1A, Class A, 1.86% 4/17/2041 <sup>(a)(c)</sup>  | 127 | 119 |
| Global SC Finance VII SRL, Series 2021-2A, Class B, 2.49% 8/17/2041 <sup>(a)(c)</sup>  | 132 | 124 |
| Horizon Aircraft Finance, Series 2024-1, Class A, 5.375% 9/15/2049 <sup>(a)(c)</sup>  | 2693 | 2725 |
| Merchants Fleet Funding, LLC, Series 2024-1, Class A, 5.82% 4/20/2037 <sup>(a)(c)</sup>  | 772 | 777 |
| Mercury Financial Credit Card Master Trust, Series 2024-2A, Class A, 6.56% 7/20/2029 <sup>(a)(c)</sup>  | 1638 | 1647 |
| MMP Capital, Series 2025-A, Class A, 5.36% 12/15/2031 <sup>(a)(c)</sup>  | 315 | 318 |
| MMP Capital, Series 2025-A, Class B, 5.72% 12/15/2031 <sup>(a)(c)</sup>  | 664 | 679 |
| New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 10/20/2061 <sup>(a)(c)</sup>  | 5615 | 4704 |
| NMEF Funding, LLC, Series 2024-A, Class A2, 5.15% 12/15/2031 <sup>(a)(c)</sup>  | 1215 | 1223 |
| NMEF Funding, LLC, Series 2025-A, Class A2, 4.72% 7/15/2032 <sup>(a)(c)</sup>  | 1135 | 1139 |
| NMEF Funding, LLC, Series 2025-A, Class B, 5.18% 7/15/2032 <sup>(a)(c)</sup>  | 1175 | 1191 |
| NMEF Funding, LLC, Series 2025-B, Class B, 4.73% 1/18/2033 <sup>(a)(c)</sup>  | 2648 | 2669 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-1, Class A, 6.27% 6/17/2031 <sup>(a)(c)</sup>  | 612 | 620 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-2A, Class A, 4.98% 10/17/2031 <sup>(a)(c)</sup>  | 801 | 805 |
| OnDeck Asset Securitization Trust, LLC, Series 2025-1A, Class A, 5.08% 4/19/2032 <sup>(a)(c)</sup>  | 992 | 1000 |
| OnDeck Asset Securitization Trust, LLC, Series 2025-2A, Class A, 4.84% 11/17/2032 <sup>(a)(c)</sup>  | 1028 | 1034 |
| OnDeck Asset Securitization Trust, LLC, Series 2025-2A, Class B, 5.23% 11/17/2032 <sup>(a)(c)</sup>  | 935 | 939 |
| OWN Equipment Fund III, Series 2025-2M, Class A, 5.42% 3/27/2034 <sup>(a)(c)</sup>  | 7683 | 7734 |
| Pagaya Point Of Sale Holdings Grantor Trust, Series 2025-2, Class A, 5.065% 7/20/2033 <sup>(a)(c)</sup>  | 4556 | 4582 |
| PEAC Solutions Receivables, LLC, Series 2024-2A, Class A2, 4.74% 4/20/2027 <sup>(a)(c)</sup>  | 803 | 805 |
| PEAC Solutions Receivables, LLC, Series 2024-1A, Class A2, 5.79% 6/21/2027 <sup>(a)(c)</sup>  | 570 | 575 |
| PEAC Solutions Receivables, LLC, Series 2025-1A, Class A2, 4.94% 10/20/2028 <sup>(a)(c)</sup>  | 1285 | 1293 |
| PEAC Solutions Receivables, LLC, Series 2024-2A, Class A3, 4.65% 10/20/2031 <sup>(a)(c)</sup>  | 585 | 589 |
| PFS Financing Corp., Series 2023-A, Class A, 5.80% 3/15/2028 <sup>(a)(c)</sup>  | 150 | 151 |
| PG&E Recovery Funding, LLC, Series 2024-A, Class A1, 4.838% 6/1/2035 <sup>(c)</sup>  | 1250 | 1272 |
| PK ALIFT Loan Funding, Series 2025-2, Class A, 4.75% 3/15/2043 <sup>(a)(c)</sup>  | 704 | 707 |
| Post Road Equipment Finance, Series 2024-1, Class C, 5.81% 10/15/2030 <sup>(a)(c)</sup>  | 900 | 913 |
| Reach Financial, LLC, Series 2024-2, Class A, 5.88% 7/15/2031 <sup>(a)(c)</sup>  | 247 | 248 |
| SCF Equipment Leasing, LLC, Series 2024-1A, Class A3, 5.52% 1/20/2032 <sup>(a)(c)</sup>  | 3597 | 3669 |
| SCF Equipment Leasing, LLC, Series 2024-1, Class B, 5.56% 4/20/2032 <sup>(a)(c)</sup>  | 3900 | 4025 |
| SCF Equipment Trust, LLC, Series 2025-1A, Class A2, 4.82% 7/22/2030 <sup>(a)(c)</sup>  | 494 | 496 |
| SCF Equipment Trust, LLC, Series 2025-1A, Class A3, 5.11% 11/21/2033 <sup>(a)(c)</sup>  | 1658 | 1694 |
| Subway Funding, LLC, Series 2024-3, Class A2I, 5.246% 7/30/2054 <sup>(a)(c)</sup>  | 2523 | 2518 |
| Synchrony Card Issuance Trust, Series 2025-A1, Class A, 4.78% 2/18/2031 <sup>(c)</sup>  | 236 | 240 |
| Synchrony Card Issuance Trust, Series 2025-A2, Class A, 4.49% 5/15/2031 <sup>(c)</sup>  | 3402 | 3454 |
| TAL Advantage V, LLC, Series 2020-1A, Class A, 2.05% 9/20/2045 <sup>(a)(c)</sup>  | 5641 | 5406 |
| Textainer Marine Containers, Ltd., Series 2020-2A, Class A, 2.10% 9/20/2045 <sup>(a)(c)</sup>  | 972 | 924 |
| Textainer Marine Containers, Ltd., Series 2021-1, Class A, 1.68% 2/20/2046 <sup>(a)(c)</sup>  | 1374 | 1295 |
| Textainer Marine Containers, Ltd., Series 2021-2A, Class A, 2.23% 4/20/2046 <sup>(a)(c)</sup>  | 1671 | 1585 |
| Textainer Marine Containers, Ltd., Series 2021-2A, Class B, 2.82% 4/20/2046 <sup>(a)(c)</sup>  | 877 | 824 |
| Textainer Marine Containers, Ltd., Series 2025-1H, Class A, 6.43% 7/23/2050 <sup>(a)(c)</sup>  | 1558 | 1567 |
| TIF Funding II, LLC, Series 2020-1A, Class A, 2.09% 8/20/2045 <sup>(a)(c)</sup>  | 468 | 449 |
| TIF Funding II, LLC, Series 2021-1A, Class A, 1.65% 2/20/2046 <sup>(a)(c)</sup>  | 4276 | 3925 |
| U.S. Bank National Association, Series 2025-SUP1, Class B, 5.582% 2/25/2032 <sup>(a)(c)</sup>  | 1205 | 1211 |
| U.S. Bank National Association, Series 2025-SUP2, Class B1, 4.818% 9/25/2032 <sup>(a)(c)</sup>  | 1897 | 1909 |
| USQ Rail, Series 2021-3A, Class A, 2.21% 6/28/2051 <sup>(a)(c)</sup>  | 4536 | 4370 |
| Verdant Receivables, LLC, Series 2025-1A, Class A2, 4.85% 3/13/2028 <sup>(a)(c)</sup>  | 2075 | 2086 |
| Verdant Receivables, LLC, Series 2024-1, Class A2, 5.68% 12/12/2031 <sup>(a)(c)</sup>  | 570 | 582 |
| Verdant Receivables, LLC, Series 2024-1, Class B, 5.72% 12/12/2031 <sup>(a)(c)</sup>  | 1750 | 1805 |
| Verdant Receivables, LLC, Series 2025-1A, Class A3, 4.96% 5/12/2033 <sup>(a)(c)</sup>  | 3364 | 3431 |
| Verizon Master Trust, Series 2025-9, Class A1A, 3.96% 10/21/2030 (4.67% on 10/20/2027) <sup>(b)(c)</sup>  | 7309 | 7347 |
| Wingspire Equipment Finance, LLC, Series 2024-1A, Class A2, 4.99% 9/20/2032 <sup>(a)(c)</sup>  | 775 | 780 |
| Wingspire Equipment Finance, LLC, Series 2025-1A, Class A2, 4.33% 9/20/2033 <sup>(a)(c)</sup>  | 216 | 217 |
| Wingspire Equipment Finance, LLC, Series 2025-1A, Class D, 5.45% 9/20/2033 <sup>(a)(c)</sup>  | 521 | 525 |
|  |  | 165970 |
| **Auto loan 2.95%** |  |  |
| American Credit Acceptance Receivables Trust, Series 2024-1, Class C, 5.63% 1/14/2030 <sup>(a)(c)</sup>  | 212 | 213 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **11** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Bond ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| **Auto loan (continued)** |  |  |
| American Credit Acceptance Receivables Trust, Series 2024-2, Class D, 6.53% 4/12/2030 <sup>(a)(c)</sup>  | USD<br> 683<br>| $698 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2025-1A, Class A, 4.80% 8/20/2029 <sup>(a)(c)</sup>  | 753 | 766 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-6, Class A, 5.81% 12/20/2029 <sup>(a)(c)</sup>  | 250 | 260 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-8, Class A, 6.02% 2/20/2030 <sup>(a)(c)</sup>  | 150 | 157 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2024-1, Class A, 5.36% 6/20/2030 <sup>(a)(c)</sup>  | 117 | 121 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2025-2A, Class A, 5.12% 8/20/2031 <sup>(a)(c)</sup>  | 3503 | 3597 |
| BofA Auto Trust, Series 2024-1, Class A4, 5.31% 6/17/2030 <sup>(a)(c)</sup>  | 1000 | 1022 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-1, Class B, 5.43% 8/15/2028 <sup>(c)</sup>  | 53 | 53 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-1, Class C, 5.65% 4/16/2029 <sup>(c)</sup>  | 99 | 100 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-4, Class B, 4.77% 8/15/2030 <sup>(c)</sup>  | 656 | 659 |
| CarMax Auto Owner Trust, Series 2024-1, Class A4, 4.94% 8/15/2029 <sup>(c)</sup>  | 500 | 509 |
| CarMax Select Receivables Trust, Series 2024-A, Class A2A, 5.78% 9/15/2027 <sup>(c)</sup>  | 51 | 51 |
| Carvana Auto Receivables Trust, Series 2023-N4, Class A, 6.42% 1/10/2028 <sup>(a)(c)</sup>  | 8 | 8 |
| Carvana Auto Receivables Trust, Series 2024-P3, Class A3, 4.26% 10/10/2029 <sup>(c)</sup>  | 1956 | 1961 |
| Citizens Auto Receivables Trust, Series 2024-1, Class A3, 5.11% 4/17/2028 <sup>(a)(c)</sup>  | 82 | 83 |
| Citizens Auto Receivables Trust, Series 2023-2, Class A4, 5.74% 10/15/2030 <sup>(a)(c)</sup>  | 150 | 153 |
| CPS Auto Receivables Trust, Series 2024-A, Class B, 5.65% 5/15/2028 <sup>(a)(c)</sup>  | 37 | 37 |
| CPS Auto Receivables Trust, Series 2024-D, Class A, 4.91% 6/15/2028 <sup>(a)(c)</sup>  | 100 | 101 |
| CPS Auto Receivables Trust, Series 2024-C, Class B, 5.68% 12/15/2028 <sup>(a)(c)</sup>  | 505 | 507 |
| CPS Auto Receivables Trust, Series 2024-A, Class C, 5.74% 4/15/2030 <sup>(a)(c)</sup>  | 100 | 101 |
| CPS Auto Receivables Trust, Series 2024-A, Class D, 6.13% 4/15/2030 <sup>(a)(c)</sup>  | 100 | 102 |
| CPS Auto Trust, Series 2025-D, Class A, 4.46% 7/16/2029 <sup>(a)(c)</sup>  | 2332 | 2334 |
| CPS Auto Trust, Series 2025-D, Class B, 4.48% 4/15/2030 <sup>(a)(c)</sup>  | 915 | 917 |
| Drive Auto Receivables Trust, Series 2024-1, Class B, 5.31% 1/16/2029 <sup>(c)</sup>  | 117 | 117 |
| Enterprise Fleet Financing, LLC, Series 2024-3, Class A2, 5.31% 4/20/2027 <sup>(a)(c)</sup>  | 383 | 384 |
| Enterprise Fleet Financing, LLC, Series 2024-4, Class A2, 4.69% 7/20/2027 <sup>(a)(c)</sup>  | 1178 | 1182 |
| Enterprise Fleet Financing, LLC, Series 2024-1, Class A2, 5.23% 3/20/2030 <sup>(a)(c)</sup>  | 76 | 77 |
| Enterprise Fleet Financing, LLC, Series 2024-1, Class A3, 5.16% 9/20/2030 <sup>(a)(c)</sup>  | 108 | 110 |
| Exeter Automobile Receivables Trust, Series 2023-5A, Class B, 6.58% 4/17/2028 <sup>(c)</sup>  | 21 | 21 |
| Exeter Automobile Receivables Trust, Series 2024-1, Class B, 5.29% 8/15/2028 <sup>(c)</sup>  | 64 | 64 |
| Exeter Automobile Receivables Trust, Series 2024-1, Class C, 5.41% 5/15/2030 <sup>(c)</sup>  | 121 | 122 |
| Exeter Automobile Receivables Trust, Series 2025-5A, Class B, 4.28% 7/15/2030 <sup>(c)</sup>  | 700 | 702 |
| Exeter Automobile Receivables Trust, Series 2025-5A, Class C, 4.68% 3/15/2032 <sup>(c)</sup>  | 1025 | 1029 |
| First Investors Auto Owner Trust, Series 2025-1A, Class B, 4.39% 1/15/2031 <sup>(a)(c)</sup>  | 1689 | 1695 |
| Ford Credit Auto Owner Trust, Series 2023-B, Class A4, 5.06% 2/15/2029 <sup>(c)</sup>  | 100 | 101 |
| Ford Credit Auto Owner Trust, Series 2023-1, Class A, 4.85% 8/15/2035 <sup>(a)(c)</sup>  | 150 | 153 |
| Ford Credit Floorplan Master Owner Trust, Series 2024-3, Class A1, 4.30% 9/15/2029 <sup>(a)(c)</sup>  | 2725 | 2749 |
| Ford Credit Floorplan Master Owner Trust, Series 2025-1, Class A1, 4.63% 4/15/2030 <sup>(c)</sup>  | 3116 | 3171 |
| GLS Auto Receivables Trust, Series 2024-4A, Class A3, 4.75% 7/17/2028 <sup>(a)(c)</sup>  | 553 | 555 |
| GLS Auto Receivables Trust, Series 2024-4A, Class B, 4.89% 4/16/2029 <sup>(a)(c)</sup>  | 457 | 460 |
| GLS Auto Receivables Trust, Series 2025-4A, Class B, 4.53% 4/15/2030 <sup>(a)(c)</sup>  | 2797 | 2810 |
| GLS Auto Receivables Trust, Series 2025-4A, Class C, 4.74% 8/15/2031 <sup>(a)(c)</sup>  | 3956 | 3981 |
| GLS Auto Select Receivables Trust, Series 2024-4A, Class A2, 4.43% 12/17/2029 <sup>(a)(c)</sup>  | 615 | 618 |
| GLS Auto Select Receivables Trust, Series 2024-1, Class A2, 5.24% 3/15/2030 <sup>(a)(c)</sup>  | 84 | 84 |
| GLS Auto Select Receivables Trust, Series 2024-2, Class A2, 5.58% 6/17/2030 <sup>(a)(c)</sup>  | 69 | 70 |
| GM Financial Revolving Receivables Trust, Series 2023-2, Class A, 5.77% 8/11/2036 <sup>(a)(c)</sup>  | 312 | 328 |
| Hertz Vehicle Financing III, LLC, Series 2023-1, Class A, 5.49% 6/25/2027 <sup>(a)(c)</sup>  | 1382 | 1387 |
| Hertz Vehicle Financing III, LLC, Series 2023-4, Class A, 6.15% 3/25/2030 <sup>(a)(c)</sup>  | 150 | 157 |
| Hertz Vehicle Financing, LLC, Series 2023-1A, Class B, 6.22% 6/25/2027 <sup>(a)(c)</sup>  | 2505 | 2515 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class A, 1.68% 12/27/2027 <sup>(a)(c)</sup>  | 250 | 245 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class B, 2.12% 12/27/2027 <sup>(a)(c)</sup>  | 150 | 147 |
| Hertz Vehicle Financing, LLC, Series 2023-3A, Class A, 5.94% 2/25/2028 <sup>(a)(c)</sup>  | 4919 | 4995 |
| Hertz Vehicle Financing, LLC, Series 2024-1A, Class A, 5.44% 1/25/2029 <sup>(a)(c)</sup>  | 517 | 528 |
| Hertz Vehicle Financing, LLC, Series 2025-1A, Class A, 4.91% 9/25/2029 <sup>(a)(c)</sup>  | 1616 | 1637 |
| Hertz Vehicle Financing, LLC, Series 2025-1A, Class C, 6.03% 9/25/2029 <sup>(a)(c)</sup>  | 1649 | 1677 |
| Huntington National Bank (The), Series 2024-2, Class B1, 5.44% 10/20/2032 <sup>(a)(c)</sup>  | 2330 | 2356 |
| Huntington National Bank (The), Series 2025-1, Class B, 4.957% 3/21/2033 <sup>(a)(c)</sup>  | 4277 | 4315 |
| Huntington National Bank (The), Series 2025-2, Class B1, 4.835% 9/20/2033 <sup>(a)(c)</sup>  | 5298 | 5335 |
| Hyundai Auto Lease Securitization Trust, Series 2024-A, Class A4, 5.07% 2/15/2028 <sup>(a)(c)</sup>  | 100 | 100 |
| Hyundai Floorplan Master Owner Trust, Series 2025-1A, Class A, 4.01% 10/15/2030 <sup>(a)(c)</sup>  | 5189 | 5195 |
| LAD Auto Receivables Trust, Series 2023-4, Class A3, 6.10% 12/15/2027 <sup>(a)(c)</sup>  | 4 | 4 |
| LAD Auto Receivables Trust, Series 2024-1, Class A3, 5.23% 1/18/2028 <sup>(a)(c)</sup>  | 10 | 10 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Capital Group Fixed Income ETF Trust<sub>12</sub>

------

Capital Group Core Bond ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| **Auto loan (continued)** |  |  |
| LAD Auto Receivables Trust, Series 2023-2, Class A3, 5.42% 2/15/2028 <sup>(a)(c)</sup>  | USD<br> 29<br>| $29 |
| LAD Auto Receivables Trust, Series 2024-1, Class A4, 5.17% 9/15/2028 <sup>(a)(c)</sup>  | 80 | 80 |
| LAD Auto Receivables Trust, Series 2024-2, Class A4, 5.46% 7/16/2029 <sup>(a)(c)</sup>  | 355 | 361 |
| Mercedes-Benz Auto Receivables Trust, Series 2023-2, Class A3, 5.95% 11/15/2028 <sup>(c)</sup>  | 51 | 51 |
| PenFed Auto Receivables Owner Trust, Series 2025-A, Class A2, 4.12% 9/15/2028 <sup>(a)(c)</sup>  | 1322 | 1324 |
| PenFed Auto Receivables Owner Trust, Series 2025-A, Class A3, 4.03% 7/15/2030 <sup>(a)(c)</sup>  | 516 | 518 |
| Research-Driven Pagaya Motor Asset Trust I, Series 2025-4A, Class A2, 5.124% 4/25/2034 <sup>(a)(c)</sup>  | 4216 | 4234 |
| Research-Driven Pagaya Motor Asset Trust I, Series 2025-5A, Class A2, 4.575% 6/26/2034 <sup>(a)(c)</sup>  | 2082 | 2084 |
| Research-Driven Pagaya Motor Asset Trust I, Series 2025-5A, Class A3, 4.838% 6/26/2034 <sup>(a)(c)</sup>  | 4827 | 4841 |
| Research-Driven Pagaya Motor Asset Trust I, Series 2025-5A, Class B, 5.228% 6/26/2034 <sup>(a)(c)</sup>  | 2994 | 3003 |
| Santander Drive Auto Receivables Trust, Series 2024-1, Class A3, 5.25% 4/17/2028 <sup>(c)</sup>  | 3 | 3 |
| Santander Drive Auto Receivables Trust, Series 2024-5, Class B, 4.63% 8/15/2029 <sup>(c)</sup>  | 2394 | 2407 |
| SBNA Auto Lease Trust, Series 2024-C, Class A3, 4.56% 2/22/2028 <sup>(a)(c)</sup>  | 682 | 684 |
| SBNA Auto Lease Trust, Series 2024-B, Class A4, 5.55% 12/20/2028 <sup>(a)(c)</sup>  | 1000 | 1013 |
| Securitized Term Auto Receivables Trust, Series 2025-A, Class B, 5.038% 7/25/2031 <sup>(a)(c)</sup>  | 171 | 173 |
| Securitized Term Auto Receivables Trust, Series 2025-A, Class C, 5.185% 7/25/2031 <sup>(a)(c)</sup>  | 546 | 552 |
| Securitized Term Auto Receivables Trust, Series 2025-B, Class B, 4.925% 12/29/2032 <sup>(a)(c)</sup>  | 1031 | 1041 |
| Securitized Term Auto Receivables Trust, Series 2025-B, Class C, 5.121% 12/29/2032 <sup>(a)(c)</sup>  | 566 | 571 |
| Securitized Term Auto Receivables Trust, Series 2025-B, Class D, 5.463% 12/29/2032 <sup>(a)(c)</sup>  | 456 | 459 |
| SFS Auto Receivables Securitization Trust, Series 2024-1, Class A3, 4.95% 5/21/2029 <sup>(a)(c)</sup>  | 173 | 174 |
| Stellantis Financial Underwritten Enhanced Lease Trust, Series 2025-AA, Class A2, 4.63% 7/20/2027 <sup>(a)(c)</sup>  | 2180 | 2188 |
| Truist Bank Auto Credit-Linked Notes, Series 2025-1, Class B, 4.728% 9/26/2033 <sup>(a)(c)</sup>  | 3454 | 3461 |
| United Auto Credit Securitization Trust, Series 2025-1, Class A, 4.80% 6/10/2027 <sup>(a)(c)</sup>  | 183 | 183 |
| United Auto Credit Securitization Trust, Series 2025-1, Class B, 5.05% 2/10/2028 <sup>(a)(c)</sup>  | 1613 | 1616 |
| VStrong Auto Receivables Trust, Series 2024-A, Class A3, 5.62% 12/15/2028 <sup>(a)(c)</sup>  | 72 | 73 |
| Western Funding Auto Loan Trust, Series 2025-1, Class A, 4.75% 7/16/2035 <sup>(a)(c)</sup>  | 2225 | 2245 |
| Westlake Automobile Receivables Trust, Series 2023-4, Class A3, 6.24% 7/15/2027 <sup>(a)(c)</sup>  | 18 | 18 |
| Westlake Flooring Master Trust, Series 2024-1, Class A, 5.43% 2/15/2028 <sup>(a)(c)</sup>  | 137 | 137 |
| Westlake Flooring Master Trust, Series 2025-1A, Class A, 4.23% 10/15/2029 <sup>(a)(c)</sup>  | 4358 | 4367 |
| Wheels Fleet Lease Funding, LLC, Series 24-2A, Class A1, 4.87% 6/21/2039 <sup>(a)(c)</sup>  | 1906 | 1925 |
| Wheels Fleet Lease Funding, LLC, Series 2024-3A, Class A1, 4.80% 9/19/2039 <sup>(a)(c)</sup>  | 2099 | 2122 |
|  |  | 107633 |
| **Collateralized loan obligations 0.98%** |  |  |
| ARES CLO, Ltd., Series 2019-53A, Class A1R2, (3-month USD CME Term SOFR + 1.09%) 4.856% <br> 10/24/2036 <sup>(a)(c)(e)</sup>  | 7757 | 7762 |
| Canyon Capital CLO, Ltd., Series 2021-1A, Class AR, (3-month USD CME Term SOFR + 1.05%) 4.955% <br> 4/15/2034 <sup>(a)(c)(e)</sup>  | 8000 | 8006 |
| Dryden Senior Loan Fund, CLO, Series 2016-45A, Class A1RR, (3-month USD CME Term SOFR + 1.08%) <br> 4.985% 10/15/2030 <sup>(a)(c)(e)</sup>  | 1169 | 1170 |
| Fortress Credit BSL, Ltd., CLO, Series 2019-2A, Class A1AR, (3-month USD CME Term SOFR + 1.05%) 4.934% <br> 10/20/2032 <sup>(a)(c)(e)</sup>  | 495 | 495 |
| Marble Point CLO, Ltd., Series 2019-1A, Class A1R2, (3-month USD CME Term SOFR + 1.04%) 4.90% <br> 7/23/2032 <sup>(a)(c)(e)</sup>  | 2076 | 2077 |
| Steele Creek CLO, Ltd., Series 2019-1A, Class ARR, (3-month USD CME Term SOFR + 1.04%) 4.945% <br> 4/15/2032 <sup>(a)(c)(e)</sup>  | 4252 | 4248 |
| Steele Creek CLO, Ltd., Series 2019-2A, Class ARR, (3-month USD CME Term SOFR + 1.00%) 4.905% <br> 7/15/2032 <sup>(a)(c)(e)</sup>  | 1977 | 1973 |
| Thompson Park CLO, Ltd., Series 2021-1A, Class A1R, (3-month USD CME Term SOFR + 1.05%) 4.955% <br> 4/15/2034 <sup>(a)(c)(e)</sup>  | 3229 | 3231 |
| Trinitas CLO, Ltd., Series 2020-12A, Class A1R2, (3-month USD CME Term SOFR + 1.05%) 4.908% <br> 4/25/2033 <sup>(a)(c)(e)</sup>  | 6853 | 6860 |
|  |  | 35822 |
| **Credit card 0.67%** |  |  |
| Avant Credit Card Master Trust, Series 2024-2A, Class A, 5.38% 5/15/2029 <sup>(a)(c)</sup>  | 5000 | 5012 |
| Barclays Dryrock Issuance Trust, Series 2025-1, Class A, 3.97% 7/15/2031 <sup>(c)</sup>  | 5269 | 5283 |
| Brex Commercial Charge Card Master Trust, Series 2024-1, Class A1, 6.05% 7/15/2027 <sup>(a)(c)</sup>  | 403 | 404 |
| Evergreen Credit Card Trust, Series 2025-CRT5, Class B, 5.24% 5/15/2029 <sup>(a)(c)</sup>  | 410 | 416 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **13** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Bond ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| **Credit card (continued)** |  |  |
| First National Master Note Trust, Series 2023-2, Class A, 5.77% 9/17/2029 <sup>(c)</sup>  | USD<br> 150<br>| $152 |
| First National Master Note Trust, Series 2025-1, Class A, 4.85% 2/15/2030 <sup>(c)</sup>  | 2087 | 2130 |
| Imprint Payments Credit Card Master Trust, Series 2025-A, Class A, 4.84% 9/15/2029 <sup>(a)(c)</sup>  | 2151 | 2157 |
| Mission Lane Credit Card Master Trust, Series 2024-A, Class A1, 6.20% 8/15/2029 <sup>(a)(c)</sup>  | 2012 | 2025 |
| Mission Lane Credit Card Master Trust, Series 2024-A, Class B, 6.58% 8/15/2029 <sup>(a)(c)</sup>  | 798 | 802 |
| Mission Lane Credit Card Master Trust, Series 2025-C, Class A, 4.78% 12/16/2030 <sup>(a)(c)</sup>  | 1694 | 1703 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class A, 5.06% 9/15/2031 <sup>(a)(c)</sup>  | 3109 | 3133 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class B, 5.21% 9/15/2031 <sup>(a)(c)</sup>  | 663 | 668 |
| World Financial Network Credit Card Master Trust, Series 2024-A, Class A, 5.47% 2/17/2031 <sup>(c)</sup>  | 405 | 413 |
|  |  | 24298 |
| **Student loan 0.15%** |  |  |
| Navient Student Loan Trust, Series 2021-B, Class A, 0.94% 7/15/2069 <sup>(a)(c)</sup>  | 81 | 75 |
| Nelnet Student Loan Trust, Series 2025-AA, Class A1A, 5.07% 3/15/2057 <sup>(a)(c)</sup>  | 3506 | 3543 |
| SMB Private Education Loan Trust, Series 2025-A, Class A1A, 5.13% 4/15/2054 <sup>(a)(c)</sup>  | 1959 | 1990 |
|  |  | 5608 |
| **Total asset-backed obligations** |  | 339331 |
| **Bonds & notes of governments & government agencies outside the U.S. 0.52%** | **Bonds & notes of governments & government agencies outside the U.S. 0.52%** | **Bonds & notes of governments & government agencies outside the U.S. 0.52%** |
| **Saudi Arabia 0.10%** |  |  |
| Saudi Arabia (Kingdom of) 5.125% 1/13/2028 <sup>(a)</sup>  | 3721 | 3804 |
| **Mexico 0.42%** |  |  |
| United Mexican States 6.00% 5/13/2030  | 14520 | 15242 |
| **Total bonds & notes of governments & government agencies outside the U.S.** |  | 19046 |
| **Loans 0.04%** | **Loans 0.04%** | **Loans 0.04%** |
| **Financials 0.04%** |  |  |
| Aero Capital Solutions, Inc., Term Loan, (1-month USD CME Term SOFR + 3.00%) 7.61% 11/17/2029 <sup>(a)(e)(g)(h)</sup>  | 1399 | 1389 |
| **Total loans** |  | 1389 |
| **Municipals 0.02%** | **Municipals 0.02%** | **Municipals 0.02%** |
| **Massachusetts 0.02%** |  |  |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2024-A, 6.352% 7/1/2049  | 705 | 729 |
| **Total bonds, notes & other debt instruments** (cost: $3,491,424,000) |  | 3523193 |
| Short-term securities 4.03% | Shares |  |
| **Money market investments 4.03%** | **Money market investments 4.03%** | **Money market investments 4.03%** |
| Capital Group Central Cash Fund 3.79% <sup>(i)(j)</sup>  | 1472029 | 147218 |
| **Total short-term securities** (cost: $147,184,000) |  | 147218 |
| **Total investment securities 100.46%** (cost: $3,638,608,000) |  | 3670411 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Other assets less liabilities (0.46)% | (16646)<br>|
| **Net assets 100.00%** | $3653765 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Capital Group Fixed Income ETF Trust<sub>14</sub>

------

Capital Group Core Bond ETF (continued)

**Futures contracts**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 2 Year U.S. Treasury Note Futures | Short | 1354 | 3/31/2026 | USD(282700) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $121 |
| 5 Year U.S. Treasury Note Futures | Long | 6020 | 3/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 658014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1955)<br>|
| 10 Year U.S. Treasury Note Futures | Long | 1288 | 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1230)<br>|
| 10 Year Ultra U.S. Treasury Note Futures | Long | 478 | 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (502)<br>|
| 30 Year U.S. Treasury Bond Futures | Long | 308 | 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (461)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(4027)<br>|

---

**Swap contracts**

------

**Interest rate swaps**

**Centrally cleared interest rate swaps** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| SOFR | Annual | 3.376% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 3/31/2027 | USD7,280 | &nbsp;&nbsp;&nbsp;&nbsp; $1 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1 |
| SOFR | Annual | 3.3998% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 3/31/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 99200 | &nbsp;&nbsp;&nbsp;&nbsp; (14)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (14)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $(13)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(13)<br>|

---

**Credit default swaps**

**Centrally cleared credit default swaps on credit indices — sell protection** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Financing <br>rate received<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <sup>(k)</sup> <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>12/31/2025 <sup>(l)</sup> <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 1.00% | Quarterly | CDX.NA.IG.S45 | &nbsp;&nbsp;&nbsp;&nbsp; 12/20/2030 | USD131,281 | &nbsp;&nbsp;&nbsp;&nbsp; $2978 | &nbsp;&nbsp;&nbsp;&nbsp; $2941 | &nbsp;&nbsp;&nbsp;&nbsp; $37 |

---

**Investments in affiliates** <sup>(j)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>12/31/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 4.03%** | **Short-term securities 4.03%** | **Short-term securities 4.03%** | **Short-term securities 4.03%** | **Short-term securities 4.03%** | **Short-term securities 4.03%** | **Short-term securities 4.03%** | **Short-term securities 4.03%** |
| **Money market investments 4.03%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 3.79% <sup>(i)</sup> | $58798 | &nbsp;&nbsp; $1199356 | &nbsp;&nbsp; $1110923 | &nbsp;&nbsp; $(45)<br>| &nbsp;&nbsp; $32 | &nbsp;&nbsp; $147218 | &nbsp;&nbsp; $4028 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **15** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Bond ETF (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) 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 $917,766,000, which represented 25.12% of the net assets of the fund. 

<sup>(b)</sup> Step bond; coupon rate may change at a later date.

<sup>(c)</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>(d)</sup> Purchased on a TBA basis.

<sup>(e)</sup> 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. 

<sup>(f)</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $19,333,000, which represented 0.53% of the net assets of the fund. 

<sup>(g)</sup> Value determined using significant unobservable inputs.

<sup>(h)</sup> Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $1,389,000, which represented 0.04% of the net assets of the fund. 

<sup>(i)</sup> Rate represents the seven-day yield at 12/31/2025.

<sup>(j)</sup> Affiliate of the fund or part of the same "group of investment companies" as the fund, as defined under the Investment Company Act of 1940, as amended.

<sup>(k)</sup> The maximum potential amount the fund may pay as a protection seller should a credit event occur.

<sup>(l)</sup> The prices and resulting values for credit default swap indices serve as an indicator of the current status of the payment/performance risk. As the value of a sell protection credit default swap increases or decreases, when compared to the notional amount of the swap, the payment/performance risk may decrease or increase, respectively. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| Auth. = Authority |
| CLO = Collateralized Loan Obligations |
| CME = CME Group |
| Fncg. = Financing |
| ICE = Intercontinental Exchange, Inc. |
| Rev. = Revenue |
| SOFR = Secured Overnight Financing Rate |
| USD = U.S. dollars |
| UST = U.S. Treasury |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **16** |

---

------

Capital Group Core Plus Income ETF

**Investment portfolio** December 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments 97.89% | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations 42.15%** | **Mortgage-backed obligations 42.15%** | **Mortgage-backed obligations 42.15%** |
| **Federal agency mortgage-backed obligations 27.70%** |  |  |
| Fannie Mae Pool #253907 7.00% 7/1/2031 <sup>(a)</sup>  | USD <br>—<sup>(b)</sup><br>| — <br><sup>(b)</sup><br>|
| Fannie Mae Pool #625186 7.00% 1/1/2032 <sup>(a)</sup>  | — <br><sup>(b)</sup><br>| — <br><sup>(b)</sup><br>|
| Fannie Mae Pool #AL9446 3.00% 10/1/2046 <sup>(a)</sup>  | 3672 | $3335 |
| Fannie Mae Pool #AL9521 3.00% 10/1/2046 <sup>(a)</sup>  | 639 | 582 |
| Fannie Mae Pool #CA6078 2.50% 6/1/2050 <sup>(a)</sup>  | 107 | 91 |
| Fannie Mae Pool #FP0034 2.50% 10/1/2050 <sup>(a)</sup>  | 46 | 39 |
| Fannie Mae Pool #BQ9291 2.00% 12/1/2050 <sup>(a)</sup>  | 843 | 683 |
| Fannie Mae Pool #CA8026 2.50% 12/1/2050 <sup>(a)</sup>  | 94 | 80 |
| Fannie Mae Pool #CA8587 2.00% 1/1/2051 <sup>(a)</sup>  | 1496 | 1214 |
| Fannie Mae Pool #BR1283 2.00% 1/1/2051 <sup>(a)</sup>  | 677 | 549 |
| Fannie Mae Pool #FM6332 2.00% 2/1/2051 <sup>(a)</sup>  | 2163 | 1751 |
| Fannie Mae Pool #BR3255 2.00% 2/1/2051 <sup>(a)</sup>  | 1014 | 823 |
| Fannie Mae Pool #MA4255 2.00% 2/1/2051 <sup>(a)</sup>  | 66 | 54 |
| Fannie Mae Pool #FM6128 2.50% 2/1/2051 <sup>(a)</sup>  | 937 | 795 |
| Fannie Mae Pool #CA9233 2.50% 2/1/2051 <sup>(a)</sup>  | 472 | 400 |
| Fannie Mae Pool #CA8895 2.50% 2/1/2051 <sup>(a)</sup>  | 370 | 314 |
| Fannie Mae Pool #BR7124 2.00% 4/1/2051 <sup>(a)</sup>  | 5462 | 4421 |
| Fannie Mae Pool #CB0153 2.00% 4/1/2051 <sup>(a)</sup>  | 5124 | 4148 |
| Fannie Mae Pool #FM7512 2.00% 4/1/2051 <sup>(a)</sup>  | 1187 | 963 |
| Fannie Mae Pool #BR7222 2.50% 4/1/2051 <sup>(a)</sup>  | 234 | 198 |
| Fannie Mae Pool #FM7408 2.50% 5/1/2051 <sup>(a)</sup>  | 2168 | 1836 |
| Fannie Mae Pool #CB0396 2.50% 5/1/2051 <sup>(a)</sup>  | 523 | 443 |
| Fannie Mae Pool #BR9324 2.50% 5/1/2051 <sup>(a)</sup>  | 229 | 194 |
| Fannie Mae Pool #FM7222 2.50% 5/1/2051 <sup>(a)</sup>  | 210 | 178 |
| Fannie Mae Pool #CB0844 2.50% 6/1/2051 <sup>(a)</sup>  | 719 | 609 |
| Fannie Mae Pool #FM7943 2.00% 7/1/2051 <sup>(a)</sup>  | 374 | 303 |
| Fannie Mae Pool #CB1050 2.50% 7/1/2051 <sup>(a)</sup>  | 820 | 699 |
| Fannie Mae Pool #CB1134 2.50% 7/1/2051 <sup>(a)</sup>  | 658 | 557 |
| Fannie Mae Pool #CB1394 2.50% 8/1/2051 <sup>(a)</sup>  | 13920 | 11783 |
| Fannie Mae Pool #FM8662 3.00% 8/1/2051 <sup>(a)</sup>  | 3135 | 2777 |
| Fannie Mae Pool #CB1409 3.00% 8/1/2051 <sup>(a)</sup>  | 1631 | 1445 |
| Fannie Mae Pool #FM8692 2.50% 9/1/2051 <sup>(a)</sup>  | 1202 | 1017 |
| Fannie Mae Pool #FM8745 2.50% 9/1/2051 <sup>(a)</sup>  | 737 | 626 |
| Fannie Mae Pool #FM8436 2.50% 9/1/2051 <sup>(a)</sup>  | 549 | 465 |
| Fannie Mae Pool #FS3298 2.50% 10/1/2051 <sup>(a)</sup>  | 939 | 797 |
| Fannie Mae Pool #BT6781 2.50% 10/1/2051 <sup>(a)</sup>  | 798 | 676 |
| Fannie Mae Pool #FS5045 2.50% 10/1/2051 <sup>(a)</sup>  | 428 | 363 |
| Fannie Mae Pool #FM9195 2.50% 10/1/2051 <sup>(a)</sup>  | 39 | 34 |
| Fannie Mae Pool #CB1868 2.50% 10/1/2051 <sup>(a)</sup>  | 33 | 28 |
| Fannie Mae Pool #FM9067 2.50% 10/1/2051 <sup>(a)</sup>  | 28 | 24 |
| Fannie Mae Pool #BT6823 2.50% 10/1/2051 <sup>(a)</sup>  | 20 | 17 |
| Fannie Mae Pool #BU2803 2.50% 11/1/2051 <sup>(a)</sup>  | 915 | 774 |
| Fannie Mae Pool #BQ7452 2.00% 12/1/2051 <sup>(a)</sup>  | 7 | 5 |
| Fannie Mae Pool #FS2824 2.50% 12/1/2051 <sup>(a)</sup>  | 972 | 823 |
| Fannie Mae Pool #CB2408 2.50% 12/1/2051 <sup>(a)</sup>  | 250 | 213 |
| Fannie Mae Pool #FS6925 2.50% 12/1/2051 <sup>(a)</sup>  | 77 | 66 |
| Fannie Mae Pool #FM9904 2.50% 12/1/2051 <sup>(a)</sup>  | 72 | 61 |
| Fannie Mae Pool #BQ7006 2.00% 1/1/2052 <sup>(a)</sup>  | 1994 | 1620 |
| Fannie Mae Pool #FS0369 2.50% 1/1/2052 <sup>(a)</sup>  | 3548 | 3003 |
| Fannie Mae Pool #FS0381 2.50% 1/1/2052 <sup>(a)</sup>  | 948 | 802 |
| Fannie Mae Pool #FS0174 2.50% 1/1/2052 <sup>(a)</sup>  | 835 | 708 |
| Fannie Mae Pool #FS5127 3.00% 1/1/2052 <sup>(a)</sup>  | 1605 | 1421 |
| Fannie Mae Pool #CB2850 2.00% 2/1/2052 <sup>(a)</sup>  | 480 | 388 |
| Fannie Mae Pool #FS1885 2.50% 2/1/2052 <sup>(a)</sup>  | 927 | 787 |
| Fannie Mae Pool #BV2266 2.50% 2/1/2052 <sup>(a)</sup>  | 392 | 332 |
| Fannie Mae Pool #FS0834 2.50% 2/1/2052 <sup>(a)</sup>  | 30 | 25 |
| Fannie Mae Pool #FS0647 3.00% 2/1/2052 <sup>(a)</sup>  | 3281 | 2970 |
| Fannie Mae Pool #FS0893 3.00% 2/1/2052 <sup>(a)</sup>  | 680 | 603 |
| Fannie Mae Pool #CB2913 3.50% 2/1/2052 <sup>(a)</sup>  | 556 | 515 |
| Fannie Mae Pool #BV0272 3.50% 2/1/2052 <sup>(a)</sup>  | 214 | 198 |
| Fannie Mae Pool #FS1978 2.50% 3/1/2052 <sup>(a)</sup>  | 8550 | 7238 |
| Fannie Mae Pool #CB3031 2.50% 3/1/2052 <sup>(a)</sup>  | 238 | 203 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **17** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #FS4110 2.50% 3/1/2052 <sup>(a)</sup>  | USD<br> 68<br>| $58 |
| Fannie Mae Pool #FS5327 3.00% 3/1/2052 <sup>(a)</sup>  | 889 | 787 |
| Fannie Mae Pool #BV2954 3.00% 3/1/2052 <sup>(a)</sup>  | 705 | 625 |
| Fannie Mae Pool #CB3394 2.00% 4/1/2052 <sup>(a)</sup>  | 1114 | 902 |
| Fannie Mae Pool #FS1598 2.00% 4/1/2052 <sup>(a)</sup>  | 1064 | 863 |
| Fannie Mae Pool #MA4577 2.00% 4/1/2052 <sup>(a)</sup>  | 814 | 660 |
| Fannie Mae Pool #BV5370 2.50% 4/1/2052 <sup>(a)</sup>  | 6675 | 5679 |
| Fannie Mae Pool #BV8126 2.50% 4/1/2052 <sup>(a)</sup>  | 876 | 745 |
| Fannie Mae Pool #BV5332 2.50% 4/1/2052 <sup>(a)</sup>  | 221 | 188 |
| Fannie Mae Pool #FS7500 2.50% 4/1/2052 <sup>(a)</sup>  | 35 | 30 |
| Fannie Mae Pool #BV8117 3.00% 4/1/2052 <sup>(a)</sup>  | 2295 | 2033 |
| Fannie Mae Pool #FS4198 3.00% 4/1/2052 <sup>(a)</sup>  | 1025 | 909 |
| Fannie Mae Pool #FS7061 3.00% 4/1/2052 <sup>(a)</sup>  | 656 | 581 |
| Fannie Mae Pool #FS1405 3.00% 4/1/2052 <sup>(a)</sup>  | 636 | 564 |
| Fannie Mae Pool #CB3361 3.00% 4/1/2052 <sup>(a)</sup>  | 625 | 558 |
| Fannie Mae Pool #CB3242 3.00% 4/1/2052 <sup>(a)</sup>  | 409 | 363 |
| Fannie Mae Pool #BV6617 3.50% 4/1/2052 <sup>(a)</sup>  | 734 | 680 |
| Fannie Mae Pool #CB3375 3.50% 4/1/2052 <sup>(a)</sup>  | 260 | 241 |
| Fannie Mae Pool #FS9189 2.00% 5/1/2052 <sup>(a)</sup>  | 2452 | 1992 |
| Fannie Mae Pool #MA4597 2.00% 5/1/2052 <sup>(a)</sup>  | 771 | 626 |
| Fannie Mae Pool #BV9644 2.50% 5/1/2052 <sup>(a)</sup>  | 10447 | 8891 |
| Fannie Mae Pool #BT7826 2.50% 5/1/2052 <sup>(a)</sup>  | 685 | 580 |
| Fannie Mae Pool #BW2204 2.50% 5/1/2052 <sup>(a)</sup>  | 94 | 80 |
| Fannie Mae Pool #FS5387 2.50% 5/1/2052 <sup>(a)</sup>  | 54 | 45 |
| Fannie Mae Pool #CB3586 3.00% 5/1/2052 <sup>(a)</sup>  | 2366 | 2099 |
| Fannie Mae Pool #BV5578 3.00% 5/1/2052 <sup>(a)</sup>  | 957 | 849 |
| Fannie Mae Pool #CB3523 3.00% 5/1/2052 <sup>(a)</sup>  | 700 | 621 |
| Fannie Mae Pool #CB3674 3.50% 5/1/2052 <sup>(a)</sup>  | 984 | 912 |
| Fannie Mae Pool #BU8818 3.50% 5/1/2052 <sup>(a)</sup>  | 798 | 740 |
| Fannie Mae Pool #BV9700 2.50% 6/1/2052 <sup>(a)</sup>  | 3212 | 2730 |
| Fannie Mae Pool #MA4623 2.50% 6/1/2052 <sup>(a)</sup>  | 2038 | 1735 |
| Fannie Mae Pool #BW7323 2.50% 6/1/2052 <sup>(a)</sup>  | 456 | 388 |
| Fannie Mae Pool #FS4710 2.50% 6/1/2052 <sup>(a)</sup>  | 36 | 30 |
| Fannie Mae Pool #MA4626 4.00% 6/1/2052 <sup>(a)</sup>  | 7620 | 7276 |
| Fannie Mae Pool #FA2839 2.50% 7/1/2052 <sup>(a)</sup>  | 20156 | 17062 |
| Fannie Mae Pool #MA4652 2.50% 7/1/2052 <sup>(a)</sup>  | 3659 | 3110 |
| Fannie Mae Pool #FS7879 2.50% 7/1/2052 <sup>(a)</sup>  | 33 | 28 |
| Fannie Mae Pool #FS7057 2.50% 7/1/2052 <sup>(a)</sup>  | 26 | 22 |
| Fannie Mae Pool #MA4743 2.50% 8/1/2052 <sup>(a)</sup>  | 231 | 197 |
| Fannie Mae Pool #BV8015 2.50% 8/1/2052 <sup>(a)</sup>  | 186 | 158 |
| Fannie Mae Pool #FA2841 3.00% 8/1/2052 <sup>(a)</sup>  | 279 | 247 |
| Fannie Mae Pool #FS9324 3.50% 9/1/2052 <sup>(a)</sup>  | 288 | 267 |
| Fannie Mae Pool #FS3056 2.00% 10/1/2052 <sup>(a)</sup>  | 9980 | 8106 |
| Fannie Mae Pool #MA4824 2.50% 10/1/2052 <sup>(a)</sup>  | 2045 | 1733 |
| Fannie Mae Pool #BX0466 4.00% 11/1/2052 <sup>(a)</sup>  | 926 | 884 |
| Fannie Mae Pool #MA4805 4.50% 11/1/2052 <sup>(a)</sup>  | 13110 | 12853 |
| Fannie Mae Pool #BX3197 3.50% 12/1/2052 <sup>(a)</sup>  | 234 | 217 |
| Fannie Mae Pool #BX2469 5.50% 12/1/2052 <sup>(a)</sup>  | 239 | 243 |
| Fannie Mae Pool #FS5520 4.50% 1/1/2053 <sup>(a)</sup>  | 3416 | 3350 |
| Fannie Mae Pool #FS4435 2.50% 2/1/2053 <sup>(a)</sup>  | 1050 | 893 |
| Fannie Mae Pool #BW4985 4.00% 2/1/2053 <sup>(a)</sup>  | 1257 | 1198 |
| Fannie Mae Pool #MA4919 5.50% 2/1/2053 <sup>(a)</sup>  | 1251 | 1270 |
| Fannie Mae Pool #FS5329 3.00% 3/1/2053 <sup>(a)</sup>  | 144 | 127 |
| Fannie Mae Pool #BW5000 4.00% 3/1/2053 <sup>(a)</sup>  | 953 | 910 |
| Fannie Mae Pool #MA4962 4.00% 3/1/2053 <sup>(a)</sup>  | 899 | 857 |
| Fannie Mae Pool #FS4191 5.50% 3/1/2053 <sup>(a)</sup>  | 305 | 312 |
| Fannie Mae Pool #SD3124 2.50% 6/1/2053 <sup>(a)</sup>  | 435 | 370 |
| Fannie Mae Pool #CB6297 4.00% 5/1/2053 <sup>(a)</sup>  | 902 | 858 |
| Fannie Mae Pool #MA5009 5.00% 5/1/2053 <sup>(a)</sup>  | 5235 | 5250 |
| Fannie Mae Pool #MA5010 5.50% 5/1/2053 <sup>(a)</sup>  | 217 | 221 |
| Fannie Mae Pool #BW9777 3.00% 6/1/2053 <sup>(a)</sup>  | 1231 | 1090 |
| Fannie Mae Pool #BW9618 3.00% 6/1/2053 <sup>(a)</sup>  | 121 | 107 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **18** |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #MA5038 5.00% 6/1/2053 <sup>(a)</sup>  | USD<br> 2,355<br>| $2361 |
| Fannie Mae Pool #FS6037 2.50% 7/1/2053 <sup>(a)</sup>  | 64 | 54 |
| Fannie Mae Pool #MA5072 5.50% 7/1/2053 <sup>(a)</sup>  | 1659 | 1689 |
| Fannie Mae Pool #BX4574 3.00% 8/1/2053 <sup>(a)</sup>  | 505 | 447 |
| Fannie Mae Pool #MA5107 5.50% 8/1/2053 <sup>(a)</sup>  | 93 | 95 |
| Fannie Mae Pool #FS7064 3.00% 9/1/2053 <sup>(a)</sup>  | 1974 | 1749 |
| Fannie Mae Pool #MA5177 4.00% 10/1/2053 <sup>(a)</sup>  | 6551 | 6236 |
| Fannie Mae Pool #MA5165 5.50% 10/1/2053 <sup>(a)</sup>  | 379 | 386 |
| Fannie Mae Pool #MA5166 6.00% 10/1/2053 <sup>(a)</sup>  | 8334 | 8580 |
| Fannie Mae Pool #MA5191 6.00% 11/1/2053 <sup>(a)</sup>  | 2173 | 2237 |
| Fannie Mae Pool #FS6601 3.50% 12/1/2053 <sup>(a)</sup>  | 231 | 214 |
| Fannie Mae Pool #BY1448 4.00% 12/1/2053 <sup>(a)</sup>  | 4649 | 4420 |
| Fannie Mae Pool #FS6668 5.50% 12/1/2053 <sup>(a)</sup>  | 243 | 247 |
| Fannie Mae Pool #CB8089 7.00% 12/1/2053 <sup>(a)</sup>  | 212 | 223 |
| Fannie Mae Pool #FS7880 2.50% 1/1/2054 <sup>(a)</sup>  | 57 | 48 |
| Fannie Mae Pool #MA5263 4.00% 1/1/2054 <sup>(a)</sup>  | 11132 | 10583 |
| Fannie Mae Pool #FS6809 5.50% 2/1/2054 <sup>(a)</sup>  | 220 | 223 |
| Fannie Mae Pool #FS7809 7.00% 2/1/2054 <sup>(a)</sup>  | 4000 | 4211 |
| Fannie Mae Pool #MA5296 5.50% 3/1/2054 <sup>(a)</sup>  | 5494 | 5579 |
| Fannie Mae Pool #CB8148 5.50% 3/1/2054 <sup>(a)</sup>  | 2626 | 2677 |
| Fannie Mae Pool #DA7881 5.50% 3/1/2054 <sup>(a)</sup>  | 288 | 292 |
| Fannie Mae Pool #MA5295 6.00% 3/1/2054 <sup>(a)</sup>  | 5947 | 6112 |
| Fannie Mae Pool #MA5341 4.00% 4/1/2054 <sup>(a)</sup>  | 292 | 277 |
| Fannie Mae Pool #MA5328 6.00% 4/1/2054 <sup>(a)</sup>  | 768 | 790 |
| Fannie Mae Pool #MA5388 5.50% 6/1/2054 <sup>(a)</sup>  | 30 | 30 |
| Fannie Mae Pool #CB8755 6.00% 6/1/2054 <sup>(a)</sup>  | 3251 | 3352 |
| Fannie Mae Pool #CB8842 5.50% 7/1/2054 <sup>(a)</sup>  | 5893 | 6012 |
| Fannie Mae Pool #CB8858 6.00% 7/1/2054 <sup>(a)</sup>  | 5039 | 5208 |
| Fannie Mae Pool #FS8318 6.00% 7/1/2054 <sup>(a)</sup>  | 3282 | 3417 |
| Fannie Mae Pool #MA5421 6.00% 7/1/2054 <sup>(a)</sup>  | 2077 | 2134 |
| Fannie Mae Pool #FS8790 6.50% 7/1/2054 <sup>(a)</sup>  | 13224 | 13778 |
| Fannie Mae Pool #CB8876 6.50% 7/1/2054 <sup>(a)</sup>  | 856 | 894 |
| Fannie Mae Pool #FS8317 6.50% 7/1/2054 <sup>(a)</sup>  | 509 | 535 |
| Fannie Mae Pool #DB8381 5.50% 8/1/2054 <sup>(a)</sup>  | 528 | 536 |
| Fannie Mae Pool #MA5445 6.00% 8/1/2054 <sup>(a)</sup>  | 6136 | 6304 |
| Fannie Mae Pool #MA5446 6.50% 8/1/2054 <sup>(a)</sup>  | 5336 | 5546 |
| Fannie Mae Pool #MA5470 5.50% 9/1/2054 <sup>(a)</sup>  | 20148 | 20452 |
| Fannie Mae Pool #DC3262 6.00% 9/1/2054 <sup>(a)</sup>  | 2722 | 2797 |
| Fannie Mae Pool #DC3459 6.00% 9/1/2054 <sup>(a)</sup>  | 1348 | 1385 |
| Fannie Mae Pool #MA5472 6.50% 9/1/2054 <sup>(a)</sup>  | 16298 | 16942 |
| Fannie Mae Pool #DC1349 6.50% 9/1/2054 <sup>(a)</sup>  | 25 | 26 |
| Fannie Mae Pool #MA5531 5.50% 11/1/2054 <sup>(a)</sup>  | 3206 | 3254 |
| Fannie Mae Pool #DC6011 5.50% 11/1/2054 <sup>(a)</sup>  | 552 | 560 |
| Fannie Mae Pool #MA5552 5.00% 12/1/2054 <sup>(a)</sup>  | 129637 | 129386 |
| Fannie Mae Pool #DC4826 5.50% 12/1/2054 <sup>(a)</sup>  | 3740 | 3795 |
| Fannie Mae Pool #DC6842 5.50% 12/1/2054 <sup>(a)</sup>  | 1667 | 1692 |
| Fannie Mae Pool #DC4736 5.50% 12/1/2054 <sup>(a)</sup>  | 1314 | 1342 |
| Fannie Mae Pool #MB0294 4.00% 1/1/2055 <sup>(a)</sup>  | 2122 | 2015 |
| Fannie Mae Pool #MA5615 6.00% 2/1/2055 <sup>(a)</sup>  | 6989 | 7180 |
| Fannie Mae Pool #FA1000 7.00% 2/1/2055 <sup>(a)</sup>  | 5477 | 5771 |
| Fannie Mae Pool #MA5643 4.00% 3/1/2055 <sup>(a)</sup>  | 7656 | 7268 |
| Fannie Mae Pool #MB0304 4.00% 3/1/2055 <sup>(a)</sup>  | 2000 | 1899 |
| Fannie Mae Pool #MA5644 4.50% 3/1/2055 <sup>(a)</sup>  | 34663 | 33867 |
| Fannie Mae Pool #MA5646 5.50% 3/1/2055 <sup>(a)</sup>  | 6034 | 6123 |
| Fannie Mae Pool #MA5647 6.00% 3/1/2055 <sup>(a)</sup>  | 4279 | 4396 |
| Fannie Mae Pool #FA2843 6.50% 3/1/2055 <sup>(a)</sup>  | 40904 | 42543 |
| Fannie Mae Pool #190445 6.50% 3/1/2055 <sup>(a)</sup>  | 31396 | 32635 |
| Fannie Mae Pool #MA5649 7.00% 3/1/2055 <sup>(a)</sup>  | 4028 | 4238 |
| Fannie Mae Pool #MA5670 4.00% 4/1/2055 <sup>(a)</sup>  | 1000 | 949 |
| Fannie Mae Pool #MA5671 4.50% 4/1/2055 <sup>(a)</sup>  | 36730 | 35886 |
| Fannie Mae Pool #FA1162 6.00% 4/1/2055 <sup>(a)</sup>  | 2064 | 2121 |
| Fannie Mae Pool #DD4459 6.00% 4/1/2055 <sup>(a)</sup>  | 2027 | 2083 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **19** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #DD4167 6.50% 4/1/2055 <sup>(a)</sup>  | USD<br> 19<br>| $19 |
| Fannie Mae Pool #MA5701 6.00% 5/1/2055 <sup>(a)</sup>  | 7932 | 8150 |
| Fannie Mae Pool #MA5761 6.00% 7/1/2055 <sup>(a)</sup>  | 23529 | 24178 |
| Fannie Mae Pool #MA5762 6.50% 7/1/2055 <sup>(a)</sup>  | 14386 | 14952 |
| Fannie Mae Pool #CC0879 6.00% 8/1/2055 <sup>(a)</sup>  | 14774 | 15376 |
| Fannie Mae Pool #BV6044 3.50% 9/1/2055 <sup>(a)</sup>  | 1208 | 1120 |
| Fannie Mae Pool #MA5850 4.00% 10/1/2055 <sup>(a)</sup>  | 1000 | 949 |
| Fannie Mae Pool #MA5876 4.00% 11/1/2055 <sup>(a)</sup>  | 1000 | 949 |
| Fannie Mae Pool #MA5907 4.00% 12/1/2055 <sup>(a)</sup>  | 2000 | 1898 |
| Fannie Mae Pool #MA5942 4.00% 1/1/2056 <sup>(a)</sup>  | 1000 | 949 |
| Farmer Mac Agricultural Real Estate Trust, Series 2025-1, Class A1, 5.22% 8/1/2055 <sup>(a)(c)(d)</sup>  | 23819 | 24179 |
| Freddie Mac Pool #ZS4017 5.50% 9/1/2027 <sup>(a)</sup>  | 1 | 1 |
| Freddie Mac Pool #QB7243 2.00% 1/1/2051 <sup>(a)</sup>  | 1812 | 1467 |
| Freddie Mac Pool #SD0554 2.50% 3/1/2051 <sup>(a)</sup>  | 312 | 264 |
| Freddie Mac Pool #QC0416 2.50% 4/1/2051 <sup>(a)</sup>  | 123 | 104 |
| Freddie Mac Pool #SI2108 2.50% 4/1/2051 <sup>(a)</sup>  | 115 | 97 |
| Freddie Mac Pool #RA5155 2.00% 5/1/2051 <sup>(a)</sup>  | 793 | 642 |
| Freddie Mac Pool #QC3428 2.50% 6/1/2051 <sup>(a)</sup>  | 672 | 569 |
| Freddie Mac Pool #QC4360 3.00% 7/1/2051 <sup>(a)</sup>  | 957 | 849 |
| Freddie Mac Pool #SD0718 2.50% 8/1/2051 <sup>(a)</sup>  | 1000 | 847 |
| Freddie Mac Pool #RA5767 2.50% 9/1/2051 <sup>(a)</sup>  | 1527 | 1292 |
| Freddie Mac Pool #SD5485 2.50% 9/1/2051 <sup>(a)</sup>  | 924 | 784 |
| Freddie Mac Pool #RA5841 3.00% 9/1/2051 <sup>(a)</sup>  | 143 | 127 |
| Freddie Mac Pool #RA6136 2.50% 10/1/2051 <sup>(a)</sup>  | 980 | 830 |
| Freddie Mac Pool #QC9251 2.50% 10/1/2051 <sup>(a)</sup>  | 23 | 19 |
| Freddie Mac Pool #QD1841 2.00% 11/1/2051 <sup>(a)</sup>  | 1735 | 1405 |
| Freddie Mac Pool #RA6231 2.50% 11/1/2051 <sup>(a)</sup>  | 850 | 720 |
| Freddie Mac Pool #RA6411 2.50% 11/1/2051 <sup>(a)</sup>  | 125 | 105 |
| Freddie Mac Pool #QD0981 3.00% 11/1/2051 <sup>(a)</sup>  | 2410 | 2136 |
| Freddie Mac Pool #QD2256 3.00% 11/1/2051 <sup>(a)</sup>  | 992 | 880 |
| Freddie Mac Pool #SD1605 2.50% 12/1/2051 <sup>(a)</sup>  | 976 | 826 |
| Freddie Mac Pool #RA6492 2.50% 12/1/2051 <sup>(a)</sup>  | 57 | 48 |
| Freddie Mac Pool #RA6427 3.00% 12/1/2051 <sup>(a)</sup>  | 1519 | 1345 |
| Freddie Mac Pool #QD9124 2.00% 2/1/2052 <sup>(a)</sup>  | 1480 | 1198 |
| Freddie Mac Pool #RA6114 2.00% 2/1/2052 <sup>(a)</sup>  | 1079 | 873 |
| Freddie Mac Pool #RA6771 2.00% 2/1/2052 <sup>(a)</sup>  | 1048 | 849 |
| Freddie Mac Pool #QD7967 2.00% 2/1/2052 <sup>(a)</sup>  | 975 | 790 |
| Freddie Mac Pool #SD0902 2.50% 2/1/2052 <sup>(a)</sup>  | 715 | 605 |
| Freddie Mac Pool #SD2962 2.50% 2/1/2052 <sup>(a)</sup>  | 512 | 435 |
| Freddie Mac Pool #QD6256 3.00% 2/1/2052 <sup>(a)</sup>  | 1978 | 1755 |
| Freddie Mac Pool #RA6856 3.00% 2/1/2052 <sup>(a)</sup>  | 1423 | 1262 |
| Freddie Mac Pool #QD5990 3.00% 2/1/2052 <sup>(a)</sup>  | 1370 | 1215 |
| Freddie Mac Pool #QD7819 3.00% 2/1/2052 <sup>(a)</sup>  | 608 | 541 |
| Freddie Mac Pool #SD8199 2.00% 3/1/2052 <sup>(a)</sup>  | 1946 | 1579 |
| Freddie Mac Pool #QD8010 2.00% 3/1/2052 <sup>(a)</sup>  | 899 | 728 |
| Freddie Mac Pool #QE0887 2.00% 3/1/2052 <sup>(a)</sup>  | 829 | 671 |
| Freddie Mac Pool #QE0615 2.50% 3/1/2052 <sup>(a)</sup>  | 805 | 684 |
| Freddie Mac Pool #QD8972 2.50% 3/1/2052 <sup>(a)</sup>  | 423 | 360 |
| Freddie Mac Pool #SD1164 3.50% 3/1/2052 <sup>(a)</sup>  | 5493 | 5093 |
| Freddie Mac Pool #RA6945 3.50% 3/1/2052 <sup>(a)</sup>  | 27 | 25 |
| Freddie Mac Pool #QE0312 2.00% 4/1/2052 <sup>(a)</sup>  | 902 | 730 |
| Freddie Mac Pool #QE1102 2.50% 4/1/2052 <sup>(a)</sup>  | 9814 | 8347 |
| Freddie Mac Pool #SD3478 2.50% 4/1/2052 <sup>(a)</sup>  | 1296 | 1097 |
| Freddie Mac Pool #QE0170 2.50% 4/1/2052 <sup>(a)</sup>  | 612 | 521 |
| Freddie Mac Pool #RA8828 2.50% 4/1/2052 <sup>(a)</sup>  | 577 | 490 |
| Freddie Mac Pool #QE0323 2.50% 4/1/2052 <sup>(a)</sup>  | 403 | 342 |
| Freddie Mac Pool #QE0292 2.50% 4/1/2052 <sup>(a)</sup>  | 265 | 225 |
| Freddie Mac Pool #QE2310 2.50% 4/1/2052 <sup>(a)</sup>  | 122 | 104 |
| Freddie Mac Pool #QE1488 2.50% 4/1/2052 <sup>(a)</sup>  | 59 | 50 |
| Freddie Mac Pool #SD1156 3.00% 4/1/2052 <sup>(a)</sup>  | 788 | 699 |
| Freddie Mac Pool #SD8206 3.00% 4/1/2052 <sup>(a)</sup>  | 768 | 681 |
| Freddie Mac Pool #RA7130 3.00% 4/1/2052 <sup>(a)</sup>  | 736 | 652 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **20** |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac Pool #QE0744 3.50% 4/1/2052 <sup>(a)</sup>  | USD<br> 861<br>| $798 |
| Freddie Mac Pool #RA7139 2.50% 5/1/2052 <sup>(a)</sup>  | 274 | 232 |
| Freddie Mac Pool #SD8213 3.00% 5/1/2052 <sup>(a)</sup>  | 40629 | 36087 |
| Freddie Mac Pool #QE1237 3.50% 5/1/2052 <sup>(a)</sup>  | 983 | 911 |
| Freddie Mac Pool #QE5301 3.50% 5/1/2052 <sup>(a)</sup>  | 679 | 630 |
| Freddie Mac Pool #QE4044 2.50% 6/1/2052 <sup>(a)</sup>  | 471 | 399 |
| Freddie Mac Pool #SD8219 2.50% 6/1/2052 <sup>(a)</sup>  | 380 | 323 |
| Freddie Mac Pool #SD6203 3.00% 6/1/2052 <sup>(a)</sup>  | 126 | 111 |
| Freddie Mac Pool #QE4383 4.00% 6/1/2052 <sup>(a)</sup>  | 668 | 638 |
| Freddie Mac Pool #SL2621 2.50% 7/1/2052 <sup>(a)</sup>  | 19134 | 16197 |
| Freddie Mac Pool #SD5368 2.50% 7/1/2052 <sup>(a)</sup>  | 3314 | 2810 |
| Freddie Mac Pool #QE6097 2.50% 7/1/2052 <sup>(a)</sup>  | 567 | 482 |
| Freddie Mac Pool #SD3632 2.50% 7/1/2052 <sup>(a)</sup>  | 185 | 157 |
| Freddie Mac Pool #SD8225 3.00% 7/1/2052 <sup>(a)</sup>  | 35626 | 31591 |
| Freddie Mac Pool #SD4673 3.00% 7/1/2052 <sup>(a)</sup>  | 1413 | 1252 |
| Freddie Mac Pool #SD3117 4.00% 7/1/2052 <sup>(a)</sup>  | 5472 | 5225 |
| Freddie Mac Pool #SD8234 2.50% 8/1/2052 <sup>(a)</sup>  | 1443 | 1227 |
| Freddie Mac Pool #QE8026 2.50% 8/1/2052 <sup>(a)</sup>  | 355 | 301 |
| Freddie Mac Pool #SD8235 3.00% 8/1/2052 <sup>(a)</sup>  | 1231 | 1092 |
| Freddie Mac Pool #SL1039 3.00% 8/1/2052 <sup>(a)</sup>  | 973 | 862 |
| Freddie Mac Pool #SD7346 3.00% 8/1/2052 <sup>(a)</sup>  | 897 | 795 |
| Freddie Mac Pool #QE8105 3.50% 8/1/2052 <sup>(a)</sup>  | 275 | 255 |
| Freddie Mac Pool #SD8262 2.50% 9/1/2052 <sup>(a)</sup>  | 5916 | 5030 |
| Freddie Mac Pool #QF0923 2.50% 9/1/2052 <sup>(a)</sup>  | 621 | 527 |
| Freddie Mac Pool #SD8271 2.50% 10/1/2052 <sup>(a)</sup>  | 436 | 370 |
| Freddie Mac Pool #SD8291 2.50% 11/1/2052 <sup>(a)</sup>  | 691 | 586 |
| Freddie Mac Pool #SD8263 3.00% 11/1/2052 <sup>(a)</sup>  | 1250 | 1108 |
| Freddie Mac Pool #QF5342 4.00% 12/1/2052 <sup>(a)</sup>  | 937 | 894 |
| Freddie Mac Pool #SD8303 2.50% 1/1/2053 <sup>(a)</sup>  | 362 | 307 |
| Freddie Mac Pool #SD8312 2.50% 1/1/2053 <sup>(a)</sup>  | 312 | 266 |
| Freddie Mac Pool #SD8287 4.50% 1/1/2053 <sup>(a)</sup>  | 21121 | 20706 |
| Freddie Mac Pool #SD8299 5.00% 2/1/2053 <sup>(a)</sup>  | 3685 | 3692 |
| Freddie Mac Pool #SD8305 4.00% 3/1/2053 <sup>(a)</sup>  | 2137 | 2040 |
| Freddie Mac Pool #SD2610 4.00% 3/1/2053 <sup>(a)</sup>  | 267 | 254 |
| Freddie Mac Pool #RA8720 4.00% 4/1/2053 <sup>(a)</sup>  | 843 | 805 |
| Freddie Mac Pool #QG1193 5.50% 4/1/2053 <sup>(a)</sup>  | 296 | 301 |
| Freddie Mac Pool #SD8321 4.00% 5/1/2053 <sup>(a)</sup>  | 1104 | 1049 |
| Freddie Mac Pool #SD8323 5.00% 5/1/2053 <sup>(a)</sup>  | 2330 | 2334 |
| Freddie Mac Pool #SD8331 5.50% 6/1/2053 <sup>(a)</sup>  | 3186 | 3241 |
| Freddie Mac Pool #SD3417 2.50% 7/1/2053 <sup>(a)</sup>  | 1030 | 875 |
| Freddie Mac Pool #SD8353 4.00% 7/1/2053 <sup>(a)</sup>  | 888 | 844 |
| Freddie Mac Pool #SD8342 5.50% 6/1/2053 <sup>(a)</sup>  | 1828 | 1860 |
| Freddie Mac Pool #RA9735 2.50% 8/1/2053 <sup>(a)</sup>  | 178 | 151 |
| Freddie Mac Pool #SD8357 4.00% 8/1/2053 <sup>(a)</sup>  | 903 | 859 |
| Freddie Mac Pool #QG9041 4.00% 8/1/2053 <sup>(a)</sup>  | 574 | 546 |
| Freddie Mac Pool #SD8375 4.00% 9/1/2053 <sup>(a)</sup>  | 912 | 867 |
| Freddie Mac Pool #SD8362 5.50% 9/1/2053 <sup>(a)</sup>  | 18913 | 19239 |
| Freddie Mac Pool #SD8363 6.00% 9/1/2053 <sup>(a)</sup>  | 4648 | 4787 |
| Freddie Mac Pool #SD4077 2.50% 10/1/2053 <sup>(a)</sup>  | 2888 | 2455 |
| Freddie Mac Pool #SD4550 2.50% 10/1/2053 <sup>(a)</sup>  | 175 | 148 |
| Freddie Mac Pool #SD8367 5.50% 10/1/2053 <sup>(a)</sup>  | 1424 | 1448 |
| Freddie Mac Pool #SD4977 5.00% 11/1/2053 <sup>(a)</sup>  | 92659 | 92776 |
| Freddie Mac Pool #SD8372 5.50% 11/1/2053 <sup>(a)</sup>  | 5050 | 5125 |
| Freddie Mac Pool #SD8392 4.00% 12/1/2053 <sup>(a)</sup>  | 6030 | 5729 |
| Freddie Mac Pool #QH9285 2.50% 1/1/2054 <sup>(a)</sup>  | 285 | 241 |
| Freddie Mac Pool #SD8396 6.00% 1/1/2054 <sup>(a)</sup>  | 267 | 275 |
| Freddie Mac Pool #SD8401 5.50% 2/1/2054 <sup>(a)</sup>  | 22294 | 22646 |
| Freddie Mac Pool #SD8402 6.00% 2/1/2054 <sup>(a)</sup>  | 20449 | 21026 |
| Freddie Mac Pool #SD8403 6.50% 2/1/2054 <sup>(a)</sup>  | 24 | 24 |
| Freddie Mac Pool #SD8424 4.00% 3/1/2054 <sup>(a)</sup>  | 1931 | 1834 |
| Freddie Mac Pool #SD8408 5.50% 3/1/2054 <sup>(a)</sup>  | 43320 | 43985 |
| Freddie Mac Pool #SD8432 6.00% 5/1/2054 <sup>(a)</sup>  | 2449 | 2516 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **21** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac Pool #SD8438 5.50% 6/1/2054 <sup>(a)</sup>  | USD<br> 863<br>| $877 |
| Freddie Mac Pool #QI7522 5.50% 6/1/2054 <sup>(a)</sup>  | 18 | 18 |
| Freddie Mac Pool #SD8439 6.00% 6/1/2054 <sup>(a)</sup>  | 33 | 34 |
| Freddie Mac Pool #RJ1963 5.50% 7/1/2054 <sup>(a)</sup>  | 1562 | 1593 |
| Freddie Mac Pool #RJ1964 6.00% 7/1/2054 <sup>(a)</sup>  | 10037 | 10473 |
| Freddie Mac Pool #RJ1975 6.00% 7/1/2054 <sup>(a)</sup>  | 7777 | 8043 |
| Freddie Mac Pool #SD8447 6.00% 7/1/2054 <sup>(a)</sup>  | 1922 | 1975 |
| Freddie Mac Pool #QJ3296 6.00% 8/1/2054 <sup>(a)</sup>  | 1518 | 1562 |
| Freddie Mac Pool #SD6700 6.00% 8/1/2054 <sup>(a)</sup>  | 776 | 799 |
| Freddie Mac Pool #SD8462 5.50% 9/1/2054 <sup>(a)</sup>  | 35182 | 35701 |
| Freddie Mac Pool #SD6578 6.00% 9/1/2054 <sup>(a)</sup>  | 1114 | 1159 |
| Freddie Mac Pool #QJ5643 6.50% 9/1/2054 <sup>(a)</sup>  | 5346 | 5557 |
| Freddie Mac Pool #QJ3931 6.50% 9/1/2054 <sup>(a)</sup>  | 20 | 21 |
| Freddie Mac Pool #SD8469 5.50% 10/1/2054 <sup>(a)</sup>  | 222 | 225 |
| Freddie Mac Pool #QJ6165 5.50% 10/1/2054 <sup>(a)</sup>  | 205 | 208 |
| Freddie Mac Pool #SD6585 5.50% 10/1/2054 <sup>(a)</sup>  | 45 | 46 |
| Freddie Mac Pool #SD8475 5.50% 11/1/2054 <sup>(a)</sup>  | 46792 | 47482 |
| Freddie Mac Pool #SD8491 5.00% 12/1/2054 <sup>(a)</sup>  | 37923 | 37862 |
| Freddie Mac Pool #SD8493 5.50% 12/1/2054 <sup>(a)</sup>  | 1757 | 1783 |
| Freddie Mac Pool #SD8494 5.50% 1/1/2055 <sup>(a)</sup>  | 6964 | 7067 |
| Freddie Mac Pool #SL2928 7.00% 1/1/2055 <sup>(a)</sup>  | 905 | 952 |
| Freddie Mac Pool #SD8506 5.50% 2/1/2055 <sup>(a)</sup>  | 1858 | 1885 |
| Freddie Mac Pool #SD8507 6.00% 2/1/2055 <sup>(a)</sup>  | 2929 | 3009 |
| Freddie Mac Pool #SL0588 3.50% 3/1/2055 <sup>(a)</sup>  | 231 | 215 |
| Freddie Mac Pool #SL0799 5.00% 3/1/2055 <sup>(a)</sup>  | 9147 | 9133 |
| Freddie Mac Pool #SD8516 6.00% 3/1/2055 <sup>(a)</sup>  | 43748 | 44949 |
| Freddie Mac Pool #QX8785 6.50% 3/1/2055 <sup>(a)</sup>  | 151 | 158 |
| Freddie Mac Pool #SD8525 6.00% 4/1/2055 <sup>(a)</sup>  | 39287 | 40367 |
| Freddie Mac Pool #QY2186 6.50% 4/1/2055 <sup>(a)</sup>  | 8019 | 8337 |
| Freddie Mac Pool #SD8530 4.00% 5/1/2055 <sup>(a)</sup>  | 1000 | 949 |
| Freddie Mac Pool #QY3774 6.00% 5/1/2055 <sup>(a)</sup>  | 19397 | 19936 |
| Freddie Mac Pool #SD8534 6.00% 5/1/2055 <sup>(a)</sup>  | 13915 | 14298 |
| Freddie Mac Pool #QY2656 6.50% 5/1/2055 <sup>(a)</sup>  | 957 | 994 |
| Freddie Mac Pool #RQ0010 4.00% 6/1/2055 <sup>(a)</sup>  | 254 | 242 |
| Freddie Mac Pool #QY4677 6.50% 6/1/2055 <sup>(a)</sup>  | 533 | 555 |
| Freddie Mac Pool #RQ0028 6.00% 7/1/2055 <sup>(a)</sup>  | 4363 | 4482 |
| Freddie Mac Pool #RQ0041 6.00% 8/1/2055 <sup>(a)</sup>  | 19741 | 20276 |
| Freddie Mac Pool #RQ0061 4.00% 11/1/2055 <sup>(a)</sup>  | 1413 | 1341 |
| Freddie Mac Pool #RQ0073 4.00% 12/1/2055 <sup>(a)</sup>  | 1465 | 1390 |
| Freddie Mac Pool #RQ0082 4.00% 1/1/2056 <sup>(a)</sup>  | 3000 | 2847 |
| Government National Mortgage Assn. 2.50% 1/1/2056 <sup>(a)</sup>  | 2100 | 1812 |
| Government National Mortgage Assn. 4.50% 1/1/2056 <sup>(a)</sup>  | 2600 | 2533 |
| Government National Mortgage Assn. 5.00% 1/1/2056 <sup>(a)</sup>  | 2600 | 2594 |
| Government National Mortgage Assn. Pool #MA8266 3.50% 9/20/2052 <sup>(a)</sup>  | 4496 | 4154 |
| Government National Mortgage Assn. Pool #MB0024 4.50% 11/20/2054 <sup>(a)</sup>  | 11386 | 11108 |
| Government National Mortgage Assn. Pool #MB0202 4.00% 2/20/2055 <sup>(a)</sup>  | 906 | 857 |
| Government National Mortgage Assn. Pool #MB0256 4.00% 3/20/2055 <sup>(a)</sup>  | 1577 | 1491 |
| Government National Mortgage Assn. Pool #MB0553 4.00% 8/20/2055 <sup>(a)</sup>  | 74 | 70 |
| Uniform Mortgage-Backed Security 2.00% 1/1/2056 <sup>(a)(e)</sup>  | 2437 | 1971 |
| Uniform Mortgage-Backed Security 3.00% 1/1/2056 <sup>(a)(e)</sup>  | 12945 | 11452 |
| Uniform Mortgage-Backed Security 3.50% 1/1/2056 <sup>(a)(e)</sup>  | 104 | 96 |
| Uniform Mortgage-Backed Security 4.00% 1/1/2056 <sup>(a)(e)</sup>  | 14833 | 14072 |
| Uniform Mortgage-Backed Security 4.50% 1/1/2056 <sup>(a)(e)</sup>  | 1441 | 1407 |
| Uniform Mortgage-Backed Security 5.00% 1/1/2056 <sup>(a)(e)</sup>  | 27100 | 27030 |
| Uniform Mortgage-Backed Security 5.50% 1/1/2056 <sup>(a)(e)</sup>  | 58810 | 59642 |
| Uniform Mortgage-Backed Security 6.00% 1/1/2056 <sup>(a)(e)</sup>  | 58069 | 59630 |
| Uniform Mortgage-Backed Security 6.50% 1/1/2056 <sup>(a)(e)</sup>  | 6779 | 7046 |
| Uniform Mortgage-Backed Security 2.00% 2/1/2056 <sup>(a)(e)</sup>  | 22214 | 17958 |
| Uniform Mortgage-Backed Security 3.50% 2/1/2056 <sup>(a)(e)</sup>  | 71973 | 66319 |
|  |  | 1801007 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **22** |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities 10.92%** |  |  |
| 3650R Commercial Mortgage Trust, Series 2022-PF2, Class B, 5.291% 11/15/2055 <sup>(a)(d)</sup>  | USD<br> 1,690<br>| $1643 |
| ALA Trust, Series 2025-OANA, Class C, (1-month USD CME Term SOFR + 2.092%) 5.843% 6/15/2030 <sup>(a)(c)(d)</sup>  | 14282 | 14346 |
| Atrium Hotel Portfolio Trust, Series 2024-ATRM, Class D, 7.935% 11/10/2029 <sup>(a)(c)(d)</sup>  | 5000 | 5117 |
| Bank5, Series 2025-5YR17, Class B, 5.992% 11/15/2058 <sup>(a)(d)</sup>  | 2303 | 2376 |
| Bank Commercial Mortgage Trust, Series 2023-BNK45, Class B, 6.148% 2/15/2056 <sup>(a)(d)</sup>  | 1873 | 1938 |
| Bank Commercial Mortgage Trust, Series 2023-BNK45, Class C, 6.312% 2/15/2056 <sup>(a)(d)</sup>  | 512 | 518 |
| Bank Commercial Mortgage Trust, Series 2023-5YR1, Class AS, 6.457% 4/15/2056 <sup>(a)(d)</sup>  | 3787 | 3922 |
| Bank Commercial Mortgage Trust, Series 2023-5YR1, Class B, 6.457% 4/15/2056 <sup>(a)(d)</sup>  | 1418 | 1464 |
| Bank Commercial Mortgage Trust, Series 2023-BNK46, Class C, 6.774% 8/15/2056 <sup>(a)(d)</sup>  | 2960 | 3022 |
| Bank Commercial Mortgage Trust, Series 2023-BNK46, Class B, 6.774% 8/15/2056 <sup>(a)(d)</sup>  | 2242 | 2375 |
| Bank Commercial Mortgage Trust, Series 2023-5YR4, Class B, 7.605% 12/15/2056 <sup>(a)(d)</sup>  | 2989 | 3209 |
| Bank Commercial Mortgage Trust, Series 2024-5YR9, Class B, 6.483% 8/15/2057 <sup>(a)(d)</sup>  | 6530 | 6837 |
| Bank Commercial Mortgage Trust, Series 2024-5YR11, Class B, 6.322% 11/15/2057 <sup>(a)(d)</sup>  | 7100 | 7390 |
| Bank Commercial Mortgage Trust, Series 2024-5YR12, Class B, 6.277% 12/15/2057 <sup>(a)(d)</sup>  | 7925 | 8256 |
| Bank Commercial Mortgage Trust, Series 2019-BN19, Class B, 3.647% 8/15/2061 <sup>(a)</sup>  | 1000 | 876 |
| Bank Commercial Mortgage Trust, Series 2019-BN24, Class B, 3.455% 11/15/2062 <sup>(a)(d)</sup>  | 1033 | 956 |
| Bank Commercial Mortgage Trust, Series 2022-BNK40, Class B, 3.51% 3/15/2064 <sup>(a)(d)</sup>  | 273 | 242 |
| Bank Commercial Mortgage Trust, Series 2022-BNK40, Class AS, 3.39% 3/15/2064 <sup>(a)(d)</sup>  | 250 | 228 |
| Barclays Commercial Mortgage Securities, LLC, Series 2018-TALL, Class A, ((1-month USD CME Term SOFR + <br> 0.047%) + 0.872%) 4.669% 3/15/2037 <sup>(a)(c)(d)</sup>  | 2927 | 2776 |
| Barclays Commercial Mortgage Securities, LLC, Series 2022-C18, Class C, 6.168% 12/15/2055 <sup>(a)(d)</sup>  | 1355 | 1369 |
| Barclays Commercial Mortgage Securities, LLC, Series 2023-C20, Class C, 6.611% 7/15/2056 <sup>(a)(d)</sup>  | 1882 | 1933 |
| Barclays Commercial Mortgage Securities, LLC, Series 2024-C24, Class C, 6.00% 2/15/2057 <sup>(a)</sup>  | 276 | 270 |
| Barclays Commercial Mortgage Securities, LLC, Series 2024-C26, Class C, 6.00% 5/15/2057 <sup>(a)(d)</sup>  | 476 | 477 |
| Barclays Commercial Mortgage Securities, LLC, Series 2024-C30, Class B, 6.031% 11/15/2057 <sup>(a)(d)</sup>  | 4242 | 4421 |
| Barclays Commercial Mortgage Securities, LLC, Series 2024-5C31, Class B, 6.002% 12/15/2057 <sup>(a)(d)</sup>  | 7000 | 7236 |
| Barclays Commercial Mortgage Securities, LLC, Series 2025-5C33, Class B, 6.435% 3/15/2058 <sup>(a)(d)</sup>  | 4464 | 4693 |
| Barclays Commercial Mortgage Securities, LLC, Series 2025-5C34, Class B, 6.542% 5/15/2058 <sup>(a)(d)</sup>  | 2265 | 2396 |
| Barclays Commercial Mortgage Securities, LLC, Series 2025-C32, Class B, 6.13% 2/15/2062 <sup>(a)</sup>  | 8000 | 8392 |
| Benchmark Mortgage Trust, Series 2020-B21, Class AS, 2.254% 12/17/2053 <sup>(a)</sup>  | 250 | 219 |
| Benchmark Mortgage Trust, Series 2021-B23, Class A5, 2.07% 2/15/2054 <sup>(a)</sup>  | 1200 | 1057 |
| Benchmark Mortgage Trust, Series 2022-B35, Class C, 4.594% 5/15/2055 <sup>(a)(d)</sup>  | 2005 | 1641 |
| Benchmark Mortgage Trust, Series 2023-V2, Class B, 6.769% 5/15/2055 <sup>(a)(d)</sup>  | 2988 | 3093 |
| Benchmark Mortgage Trust, Series 2023-V2, Class C, 6.77% 5/15/2055 <sup>(a)(d)</sup>  | 1994 | 2040 |
| Benchmark Mortgage Trust, Series 2023-V3, Class B, 6.924% 7/15/2056 <sup>(a)(d)</sup>  | 1499 | 1553 |
| Benchmark Mortgage Trust, Series 2023-V3, Class C, 7.172% 7/15/2056 <sup>(a)(d)</sup>  | 2644 | 2691 |
| Benchmark Mortgage Trust, Series 2024-V5, Class AM, 6.417% 1/10/2057 <sup>(a)(d)</sup>  | 1681 | 1754 |
| Benchmark Mortgage Trust, Series 2024-V9, Class A3, 5.602% 8/15/2057 <sup>(a)</sup>  | 3496 | 3635 |
| Benchmark Mortgage Trust, Series 2024-V9, Class B, 6.466% 8/15/2057 <sup>(a)(d)</sup>  | 2600 | 2710 |
| Benchmark Mortgage Trust, Series 2024-V10, Class B, 5.977% 9/15/2057 <sup>(a)(d)</sup>  | 6000 | 6146 |
| Benchmark Mortgage Trust, Series 2024-V11, Class B, 6.373% 11/15/2057 <sup>(a)(d)</sup>  | 7298 | 7609 |
| Benchmark Mortgage Trust, Series 2024-V12, Class B, 6.282% 12/15/2057 <sup>(a)(d)</sup>  | 3868 | 3996 |
| Benchmark Mortgage Trust, Series 2025-V15, Class B, 6.425% 6/15/2058 <sup>(a)(d)</sup>  | 3244 | 3394 |
| Benchmark Mortgage Trust, Series 2025-V18, Class C, 6.139% 10/15/2058 <sup>(a)</sup>  | 6713 | 6717 |
| BFLD Trust, Series 2025-5MW, Class A, 4.674% 10/10/2042 <sup>(a)(c)(d)</sup>  | 15553 | 15569 |
| BFLD Trust, Series 2025-5MW, Class D, 6.371% 10/10/2042 <sup>(a)(c)(d)</sup>  | 1482 | 1512 |
| BLP Commercial Mortgage Trust, Series 2024-IND2, Class A, (1-month USD CME Term SOFR + 1.342%) <br> 5.092% 3/15/2041 <sup>(a)(c)(d)</sup>  | 2688 | 2692 |
| BLP Commercial Mortgage Trust, Series 2024-IND2, Class D, (1-month USD CME Term SOFR + 2.59%) 6.34% <br> 3/15/2041 <sup>(a)(c)(d)</sup>  | 1156 | 1158 |
| BMO Mortgage Trust, Series 2023-C4, Class B, 5.395% 2/15/2056 <sup>(a)(d)</sup>  | 711 | 721 |
| BMO Mortgage Trust, Series 2023-5C1, Class B, 6.96% 8/15/2056 <sup>(a)(d)</sup>  | 3505 | 3658 |
| BMO Mortgage Trust, Series 2023-5C1, Class C, 7.117% 8/15/2056 <sup>(a)(d)</sup>  | 1075 | 1110 |
| BMO Mortgage Trust, Series 2024-5C5, Class B, 6.747% 2/15/2057 <sup>(a)(d)</sup>  | 7774 | 8128 |
| BMO Mortgage Trust, Series 2024-5C3, Class C, 6.859% 2/15/2057 <sup>(a)(d)</sup>  | 443 | 456 |
| BMO Mortgage Trust, Series 2024-5C6, Class B, 6.086% 9/15/2057 <sup>(a)(d)</sup>  | 1159 | 1194 |
| BMO Mortgage Trust, Series 2024-C10, Class B, 6.079% 11/15/2057 <sup>(a)(d)</sup>  | 3470 | 3561 |
| BMO Mortgage Trust, Series 2024-5C7, Class B, 6.198% 11/15/2057 <sup>(a)(d)</sup>  | 9000 | 9308 |
| BMO Mortgage Trust, Series 2024-5C8, Class B, 6.091% 12/15/2057 <sup>(a)(d)</sup>  | 4000 | 4120 |
| BMP Trust, Series 2024-MF23, Class D, (1-month USD CME Term SOFR + 2.39%) 6.141% 6/15/2041 <sup>(a)(c)(d)</sup>  | 5000 | 5021 |
| BMP Trust, Series 2024-MF23, Class E, (1-month USD CME Term SOFR + 3.389%) 7.139% 6/15/2041 <sup>(a)(c)(d)</sup>  | 2408 | 2417 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **23** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities (continued)** |  |  |
| BX Commercial Mortgage Trust, Series 2022-CSMO, Class A, (1-month USD CME Term SOFR + 2.115%) <br> 5.865% 6/15/2027 <sup>(a)(c)(d)</sup>  | USD<br> 716<br>| $718 |
| BX Commercial Mortgage Trust, Series 2024-GPA3, Class C, (1-month USD CME Term SOFR + 1.892%) <br> 5.643% 12/15/2039 <sup>(a)(c)(d)</sup>  | 7718 | 7750 |
| BX Trust, Series 2024-KING, Class C, (1-month USD CME Term SOFR + 1.94%) 5.691% 5/15/2034 <sup>(a)(c)(d)</sup>  | 5325 | 5339 |
| BX Trust, Series 2021-SDMF, Class D, (1-month USD CME Term SOFR + 1.501%) 5.252% 9/15/2034 <sup>(a)(c)(d)</sup>  | 464 | 462 |
| BX Trust, Series 2022-IND, Class D, (1-month USD CME Term SOFR + 2.839%) 6.589% 4/15/2037 <sup>(a)(c)(d)</sup>  | 110 | 110 |
| BX Trust, Series 2022-AHP, Class A, (1-month USD CME Term SOFR + 0.99%) 4.74% 1/17/2039 <sup>(a)(c)(d)</sup>  | 4887 | 4885 |
| BX Trust, Series 2024-VLT4, Class E, (1-month USD CME Term SOFR + 2.889%) 6.64% 6/15/2041 <sup>(a)(c)(d)</sup>  | 4757 | 4756 |
| BX Trust, Series 2024-AIR2, Class C, (1-month USD CME Term SOFR + 2.241%) 5.991% 10/15/2041 <sup>(a)(c)(d)</sup>  | 1918 | 1927 |
| BX Trust, Series 2024-FNX, Class C, (1-month USD CME Term SOFR + 2.291%) 6.041% 11/15/2041 <sup>(a)(c)(d)</sup>  | 13114 | 13171 |
| BX Trust, Series 2025-BIO3, Class C, 6.961% 2/10/2042 <sup>(a)(c)(d)</sup>  | 13850 | 14210 |
| BX Trust, Series 2025-VLT6, Class C, (1-month USD CME Term SOFR + 2.192%) 5.942% 3/15/2042 <sup>(a)(c)(d)</sup>  | 8955 | 8954 |
| BX Trust, Series 2025-VLT6, Class D, (1-month USD CME Term SOFR + 2.592%) 6.342% 3/15/2042 <sup>(a)(c)(d)</sup>  | 14062 | 14056 |
| BX Trust, Series 2025-GW, Class A, (1-month USD CME Term SOFR + 1.60%) 5.35% 7/15/2042 <sup>(a)(c)(d)</sup>  | 20000 | 20069 |
| BX Trust, Series 2025-GW, Class B, (1-month USD CME Term SOFR + 1.85%) 5.60% 7/15/2042 <sup>(a)(c)(d)</sup>  | 5170 | 5192 |
| BX Trust, Series 2020-VIV2, Class C, 3.542% 3/9/2044 <sup>(a)(c)(d)</sup>  | 2000 | 1880 |
| BX Trust, Series 2020-VIV3, Class B, 3.544% 3/9/2044 <sup>(a)(c)(d)</sup>  | 989 | 939 |
| BX Trust, Series 2025-VLT7, Class A, (1-month USD CME Term SOFR + 1.70%) 5.45% 7/15/2044 <sup>(a)(c)(d)</sup>  | 19000 | 19061 |
| BX Trust, Series 2025-VLT7, Class B, (1-month USD CME Term SOFR + 2.00%) 5.75% 7/15/2044 <sup>(a)(c)(d)</sup>  | 18989 | 19055 |
| BX Trust, Series 2025-VLT7, Class C, (1-month USD CME Term SOFR + 2.35%) 6.10% 7/15/2044 <sup>(a)(c)(d)</sup>  | 7106 | 7135 |
| BX Trust, Series 2025-VOLT, Class A, (1-month USD CME Term SOFR + 1.70%) 5.70% 12/15/2044 <sup>(a)(c)(d)</sup>  | 9945 | 9969 |
| BX Trust, Series 2025-VOLT, Class C, (1-month USD CME Term SOFR + 2.10%) 6.10% 12/15/2044 <sup>(a)(c)(d)</sup>  | 19984 | 20089 |
| BXSC Commercial Mortgage Trust, Series 2022-WSS, Class B, (1-month USD CME Term SOFR + 2.092%) <br> 5.842% 3/15/2035 <sup>(a)(c)(d)</sup>  | 2964 | 2971 |
| BXSC Commercial Mortgage Trust, Series 2022-WSS, Class D, (1-month USD CME Term SOFR + 3.188%) <br> 6.938% 3/15/2035 <sup>(a)(c)(d)</sup>  | 247 | 248 |
| CART, Series 2024-DFW1, Class D, (1-month USD CME Term SOFR + 3.04%) 6.79% 8/15/2041 <sup>(a)(c)(d)</sup>  | 5768 | 5778 |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class D, 6.047% 6/10/2028 <sup>(a)(c)(d)</sup>  | 3950 | 3962 |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class C, 6.047% 10/12/2040 <sup>(a)(c)(d)</sup>  | 1225 | 1245 |
| Citigroup Commercial Mortgage Trust, Series 2020-GC46, Class B, 3.15% 2/15/2053 <sup>(a)(d)</sup>  | 840 | 744 |
| DATA 2023-CNTR Mortgage Trust, Series 2023-CNTR, Class D, 5.728% 8/12/2043 <sup>(a)(c)(d)</sup>  | 3984 | 3716 |
| DC Commercial Mortgage Trust, Series 2023-DC, Class D, 7.14% 9/12/2040 <sup>(a)(c)(d)</sup>  | 5155 | 5307 |
| Durst Commercial Mortgage Trust, Series 2025-151, Class A, 5.317% 8/10/2042 <sup>(a)(c)(d)</sup>  | 10935 | 11166 |
| ELM Trust 2024, Series 2024-ELM, Class D10, 6.847% 6/10/2039 <sup>(a)(c)(d)</sup>  | 973 | 976 |
| ELM Trust 2024, Series 2024-ELM, Class D15, 6.897% 6/10/2039 <sup>(a)(c)(d)</sup>  | 875 | 878 |
| Extended Stay America Trust, Series 2025-ESH, Class A, (1-month USD CME Term SOFR + 1.30%) 5.05% <br> 10/15/2042 <sup>(a)(c)(d)</sup>  | 4976 | 4991 |
| Extended Stay America Trust, Series 2025-ESH, Class D, (1-month USD CME Term SOFR + 2.60%) 6.35% <br> 10/15/2042 <sup>(a)(c)(d)</sup>  | 5246 | 5292 |
| FIVE Mortgage Trust, Series 2023-V1, Class B, 6.348% 2/10/2056 <sup>(a)(d)</sup>  | 1982 | 2039 |
| FIVE Mortgage Trust, Series 2023-V1, Class C, 6.348% 2/10/2056 <sup>(a)(d)</sup>  | 973 | 984 |
| Fontainebleau Miami Beach Trust, Series 2024-FBLU, Class E, (1-month USD CME Term SOFR + 3.15%) 6.90% <br> 12/15/2039 <sup>(a)(c)(d)</sup>  | 2568 | 2587 |
| Great Wolf Trust, Series 2024-WOLF, Class A, (1-month USD CME Term SOFR + 1.542%) 5.292% <br> 3/15/2039 <sup>(a)(c)(d)</sup>  | 10650 | 10678 |
| Great Wolf Trust, Series 2024-WOLF, Class C, (1-month USD CME Term SOFR + 2.391%) 6.141% <br> 3/15/2039 <sup>(a)(c)(d)</sup>  | 3963 | 3984 |
| Great Wolf Trust, Series 2024-WOLF, Class D, (1-month USD CME Term SOFR + 2.89%) 6.64% <br> 3/15/2039 <sup>(a)(c)(d)</sup>  | 1744 | 1756 |
| GS Mortgage Securities Trust, Series 2024-70P, Class B, 5.887% 3/10/2041 <sup>(a)(c)(d)</sup>  | 2174 | 2210 |
| GS Mortgage Securities Trust, Series 2024-70P, Class C, 6.287% 3/10/2041 <sup>(a)(c)(d)</sup>  | 3769 | 3799 |
| Hawaii Hotel Trust, Series 2025-MAUI, Class D, (1-month USD CME Term SOFR + 2.591%) 6.341% <br> 3/15/2042 <sup>(a)(c)(d)</sup>  | 2987 | 3005 |
| Hawaii Hotel Trust, Series 2025-MAUI, Class E, (1-month USD CME Term SOFR + 3.29%) 7.04% <br> 3/15/2042 <sup>(a)(c)(d)</sup>  | 4897 | 4809 |
| Hilton USA Trust, Series 2024-ORL, Class A, (1-month USD CME Term SOFR + 1.541%) 5.291% <br> 5/15/2037 <sup>(a)(c)(d)</sup>  | 6000 | 6014 |
| Hilton USA Trust, Series 2024-ORL, Class B, (1-month USD CME Term SOFR + 1.941%) 5.691% <br> 5/15/2037 <sup>(a)(c)(d)</sup>  | 2000 | 2007 |
| Hilton USA Trust, Series 2024-ORL, Class C, (1-month USD CME Term SOFR + 2.44%) 6.19% 5/15/2037 <sup>(a)(c)(d)</sup>  | 996 | 1000 |
| Houston Galleria Mall Trust, Series 2025-HGLR, Class A, 5.462% 2/5/2045 <sup>(a)(c)(d)</sup>  | 5381 | 5585 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **24** |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities (continued)** |  |  |
| HTL Commercial Mortgage Trust, Series 2024-T53, Class C, 7.088% 5/10/2039 <sup>(a)(c)(d)</sup>  | USD<br> 1,260<br>| $1281 |
| HTL Commercial Mortgage Trust, Series 2024-T53, Class D, 8.198% 5/10/2039 <sup>(a)(c)(d)</sup>  | 2564 | 2624 |
| Hudson Yards Mortgage Trust, Series 2025-SPRL, Class D, 6.34% 1/13/2040 <sup>(a)(c)(d)</sup>  | 20000 | 20829 |
| INTOWN Mortgage Trust, Series 2025-STAY, Class C, (1-month USD CME Term SOFR + 2.25%) 6.00% <br> 3/15/2042 <sup>(a)(c)(d)</sup>  | 11000 | 11036 |
| INTOWN Mortgage Trust, Series 2025-STAY, Class D, (1-month USD CME Term SOFR + 2.85%) 6.60% <br> 3/15/2042 <sup>(a)(c)(d)</sup>  | 11000 | 11055 |
| JW Commercial Mortgage Trust 2024-MRCO, Series 2024-BERY, Class C, (1-month USD CME Term SOFR + <br> 2.242%) 5.992% 11/15/2039 <sup>(a)(c)(d)</sup>  | 6779 | 6821 |
| KSL Commercial Mortgage Trust, Series 2024-HT2, Class D, (1-month USD CME Term SOFR + 3.29%) 7.04% <br> 12/15/2039 <sup>(a)(c)(d)</sup>  | 9709 | 9703 |
| Manhattan West, Series 2020-1MW, Class C, 2.413% 9/10/2039 <sup>(a)(c)(d)</sup>  | 5639 | 5408 |
| Morgan Stanley Bank of America Merrill Lynch Trust, Series 2025-5C1, Class B, 6.513% 3/15/2030 <sup>(a)(d)</sup>  | 4500 | 4689 |
| Morgan Stanley Bank of America Merrill Lynch Trust, Series 2025-5C1, Class C, 6.638% 3/15/2030 <sup>(a)(d)</sup>  | 7473 | 7761 |
| Morgan Stanley Bank of America Merrill Lynch Trust, Series 2025-5C2, Class C, 5.743% 11/15/2058 <sup>(a)(d)</sup>  | 950 | 947 |
| Morgan Stanley Capital I Trust, Series 2019-L3, Class B, 3.647% 11/15/2052 <sup>(a)(d)</sup>  | 750 | 691 |
| MSWF Commercial Mortgage Trust, Series 2023-1, Class B, 6.683% 5/15/2033 <sup>(a)(d)</sup>  | 1642 | 1749 |
| Multifamily Connecticut Avenue Securities, Series 2020-1, Class M10, (30-day Average USD-SOFR + 3.864%) <br> 7.739% 3/25/2050 <sup>(a)(c)(d)</sup>  | 2562 | 2618 |
| Multifamily Connecticut Avenue Securities, Series 2023-01, Class M7, (30-day Average USD-SOFR + 4.00%) <br> 7.874% 11/25/2053 <sup>(a)(c)(d)</sup>  | 1615 | 1667 |
| Multifamily Connecticut Avenue Securities, Series 2023-01, Class M10, (30-day Average USD-SOFR + 6.50%) <br> 10.374% 11/25/2053 <sup>(a)(c)(d)</sup>  | 2699 | 3077 |
| Multifamily Connecticut Avenue Securities, Series 2025-01, Class M1, (30-day Average USD-SOFR + 2.40%) <br> 6.274% 5/25/2055 <sup>(a)(c)(d)</sup>  | 8866 | 8915 |
| Multifamily Connecticut Avenue Securities, Series 2025-01, Class M2, (30-day Average USD-SOFR + 3.10%) <br> 6.974% 5/25/2055 <sup>(a)(c)(d)</sup>  | 2421 | 2432 |
| Multifamily Structured Credit Risk, Series 21-MN1, Class M2, (30-day Average USD-SOFR + 3.75%) 7.624% <br> 1/25/2051 <sup>(a)(c)(d)</sup>  | 910 | 941 |
| NYC Commercial Mortgage Trust, Series 2025-28L, Class A, 4.669% 11/5/2038 <sup>(a)(c)(d)</sup>  | 6121 | 6139 |
| NYC Commercial Mortgage Trust, Series 2025-28L, Class B, 5.007% 11/5/2038 <sup>(a)(c)(d)</sup>  | 6218 | 6237 |
| NYC Commercial Mortgage Trust, Series 2025-28L, Class D, 6.213% 11/5/2038 <sup>(a)(c)(d)</sup>  | 14407 | 14514 |
| NYC Commercial Mortgage Trust, Series 2025-3BP, Class C, (1-month USD CME Term SOFR + 1.892%) <br> 5.642% 2/15/2042 <sup>(a)(c)(d)</sup>  | 1626 | 1623 |
| NYC Commercial Mortgage Trust, Series 2025-3BP, Class D, (1-month USD CME Term SOFR + 2.441%) <br> 6.191% 2/15/2042 <sup>(a)(c)(d)</sup>  | 1824 | 1823 |
| ROCC Trust, Series 2024-CNTR, Class A, 5.388% 11/13/2041 <sup>(a)(c)</sup>  | 434 | 447 |
| SCG Hotel Issuer, Inc., Series 2025-SNIP, Class A, 5.75% 9/15/2042 <sup>(a)(c)(d)</sup>  | 15083 | 15130 |
| SDR Commercial Mortgage Trust, Series 2024-DSNY, Class B, (1-month USD CME Term SOFR + 1.741%) <br> 5.491% 5/15/2039 <sup>(a)(c)(d)</sup>  | 1943 | 1941 |
| SFO Commerical Mortgage Trust, Series 2021-555, Class A, (1-month USD CME Term SOFR + 1.264%) <br> 5.015% 5/15/2038 (1-month USD CME Term SOFR + 1.514% on 5/15/2026) <sup>(a)(c)(f)</sup>  | 8900 | 8887 |
| StorageMart Commercial Mortgage Trust, Series 2022-MINI, Class D, (1-month USD CME Term SOFR + <br> 1.95%) 5.70% 1/15/2039 <sup>(a)(c)(d)</sup>  | 3000 | 2993 |
| SWCH Commercial Mortgage Trust, Series 2025-DATA, Class D, (1-month USD CME Term SOFR + 2.591%) <br> 6.391% 2/15/2042 <sup>(a)(c)(d)</sup>  | 9787 | 9714 |
| SWCH Commercial Mortgage Trust, Series 2025-DATA, Class E, (1-month USD CME Term SOFR + 3.29%) <br> 7.09% 2/15/2042 <sup>(a)(c)(d)</sup>  | 13246 | 13194 |
| UBS Commercial Mortgage Trust, Series 2017-C1, Class AS, 3.724% 6/15/2050 <sup>(a)</sup>  | 6702 | 6579 |
| UBS Commercial Mortgage Trust, Series 2017-C3, Class C, 4.355% 8/15/2050 <sup>(a)(d)</sup>  | 1582 | 1488 |
| Wells Fargo Commercial Mortgage Trust, Series 2025-1918, Class A, 5.761% 9/15/2040 <sup>(a)(c)(d)</sup>  | 2072 | 2093 |
| Wells Fargo Commercial Mortgage Trust, Series 2016-C35, Class C, 4.176% 7/15/2048 <sup>(a)(d)</sup>  | 3000 | 2961 |
| Wells Fargo Commercial Mortgage Trust, Series 2024-5C2, Class B, 6.333% 11/15/2057 <sup>(a)(d)</sup>  | 1997 | 2078 |
| Wells Fargo Commercial Mortgage Trust, Series 2025-5C3, Class B, 6.541% 1/15/2058 <sup>(a)(d)</sup>  | 10000 | 10539 |
| Wells Fargo Commercial Mortgage Trust, Series 2025-5C4, Class B, 6.394% 5/15/2058 <sup>(a)(d)</sup>  | 1723 | 1811 |
| Wells Fargo Commercial Mortgage Trust, Series 2025-5C5, Class B, 6.219% 7/15/2058 <sup>(a)(d)</sup>  | 2000 | 2075 |
| Wells Fargo Commercial Mortgage Trust, Series 2015-LC22, Class C, 4.874% 9/15/2058 <sup>(a)(d)</sup>  | 56 | 54 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **25** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities (continued)** |  |  |
| WMRK Commercial Mortgage Trust, Series 2022-WMRK, Class A, (1-month USD CME Term SOFR + 2.789%) <br> 6.539% 11/15/2027 <sup>(a)(c)(d)</sup>  | USD<br> 1,440<br>| $1451 |
| WSTN Trust, Series 2023-MAUI, Class C, 7.69% 7/5/2037 <sup>(a)(c)(d)</sup>  | 594 | 604 |
| WSTN Trust, Series 2023-MAUI, Class D, 8.455% 7/5/2037 <sup>(a)(c)(d)</sup>  | 5875 | 5917 |
|  |  | 709552 |
| **Collateralized mortgage-backed obligations (privately originated) 3.53%** |  |  |
| Cascade Funding Mortgage Trust, Series 2024-NR1, Class A1, 6.405% 11/25/2029 (9.405% on <br> 11/25/2027) <sup>(a)(c)(f)</sup>  | 3187 | 3192 |
| Cascade Funding Mortgage Trust, Series 2023-HB12, Class M1, 4.25% 4/25/2033 <sup>(a)(c)(d)</sup>  | 1425 | 1415 |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class M1, 4.00% 8/25/2034 <sup>(a)(c)(d)</sup>  | 969 | 954 |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class A, 4.00% 8/25/2034 <sup>(a)(c)(d)</sup>  | 448 | 447 |
| Cascade Funding Mortgage Trust, Series 2024-RM5, Class A, 4.00% 10/25/2054 <sup>(a)(c)(d)</sup>  | 5672 | 5568 |
| CIM Trust, Series 2025-R1, Class A1, 5.00% 2/25/2099 (8.00% on 3/1/2028) <sup>(a)(c)(f)</sup>  | 2181 | 2175 |
| Connecticut Avenue Securities Trust, Series 2019-R07, Class 1B1, (30-day Average USD-SOFR + 1.10%) <br> 7.389% 10/25/2039 <sup>(a)(c)(d)</sup>  | 14489 | 14709 |
| Connecticut Avenue Securities Trust, Series 2020-R02, Class 2B1, (30-day Average USD-SOFR + 0.114%) <br> 6.989% 1/25/2040 <sup>(a)(c)(d)</sup>  | 9656 | 9824 |
| Connecticut Avenue Securities Trust, Series 2020-R01, Class 1B1, (30-day Average USD-SOFR + 3.364%) <br> 7.239% 1/25/2040 <sup>(a)(c)(d)</sup>  | 22212 | 22634 |
| Connecticut Avenue Securities Trust, Series 2023-R04, Class 1M2, (30-day Average USD-SOFR + 3.55%) <br> 7.424% 5/25/2043 <sup>(a)(c)(d)</sup>  | 813 | 853 |
| Connecticut Avenue Securities Trust, Series 2025-R01, Class 1A1, (30-day Average USD-SOFR + 0.95%) <br> 4.824% 1/25/2045 <sup>(a)(c)(d)</sup>  | 1618 | 1619 |
| Finance of America Structured Securities Trust, Series 2025-PC1, Class A1, 4.50% 5/25/2075 <sup>(a)(c)</sup>  | 8951 | 8677 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2021-DNA6, Class M2, (30-day Average <br> USD-SOFR + 1.50%) 5.374% 10/25/2041 <sup>(a)(c)(d)</sup>  | 634 | 636 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2025-DNA3, Class A1, (30-day Average <br> USD-SOFR + 0.95%) 4.824% 9/25/2045 <sup>(a)(c)(d)</sup>  | 3672 | 3675 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-HQA1, Class B2, (30-day Average <br> USD-SOFR + 5.214%) 9.089% 1/25/2050 <sup>(a)(c)(d)</sup>  | 3055 | 3399 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-HQA2, Class B2, (30-day Average <br> USD-SOFR + 7.714%) 11.589% 3/25/2050 <sup>(a)(c)(d)</sup>  | 360 | 437 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA3, Class B2, (30-day Average <br> USD-SOFR + 9.464%) 13.339% 6/25/2050 <sup>(a)(c)(d)</sup>  | 8401 | 10770 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA4, Class B2, (30-day Average <br> USD-SOFR + 10.114%) 13.989% 8/25/2050 <sup>(a)(c)(d)</sup>  | 8110 | 10825 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA5, Class B2, (30-day Average <br> USD-SOFR + 11.50%) 15.702% 10/25/2050 <sup>(a)(c)(d)</sup>  | 7475 | 10367 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-HQA5, Class B2, (30-day Average <br> USD-SOFR + 7.40%) 11.274% 11/25/2050 <sup>(a)(c)(d)</sup>  | 13730 | 16810 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA6, Class B2, (30-day Average <br> USD-SOFR + 5.65%) 9.524% 12/25/2050 <sup>(a)(c)(d)</sup>  | 4360 | 5034 |
| GS Mortgage-Backed Securities Trust, Series 2025-RPL3, Class A1, 4.10% 7/25/2065 (5.10% on <br> 6/1/2029) <sup>(a)(c)(f)</sup>  | 9383 | 9185 |
| IRV Trust, Series 2025-200P, Class A, 5.295% 3/14/2047 <sup>(a)(c)(d)</sup>  | 12740 | 13094 |
| IRV Trust, Series 2025-200P, Class C, 5.73% 3/14/2047 <sup>(a)(c)(d)</sup>  | 6390 | 6502 |
| Progress Residential Trust, Series 2024-SFR1, Class E2, 3.85% 2/17/2041 <sup>(a)(c)</sup>  | 698 | 664 |
| Progress Residential Trust, Series 2024-SFR2, Class E2, 3.65% 4/17/2041 <sup>(a)(c)(d)</sup>  | 642 | 605 |
| Progress Residential Trust, Series 2024-SFR3, Class E2, 4.00% 6/17/2041 <sup>(a)(c)</sup>  | 889 | 844 |
| Progress Residential Trust, Series 2025-SFR3, Class A, 3.39% 7/17/2042 <sup>(a)(c)</sup>  | 6229 | 5942 |
| Progress Residential Trust, Series 2025-SFR6, Class A, 2.378% 9/17/2042 (4.00% on 1/17/2026) <sup>(a)(c)(f)</sup>  | 22321 | 21796 |
| PRP Advisors, LLC, Series 2025-RPL3, Class A1, 3.25% 4/25/2055 (4.25% on 4/1/2028) <sup>(a)(c)(f)</sup>  | 3510 | 3403 |
| Sequoia Mortgage Trust, Series 2025-HYB1, Class A1A, 5.061% 10/25/2055 <sup>(a)(c)(d)</sup>  | 12246 | 12296 |
| Starwood Mortgage Residential Trust, Series 2024-SFR4, Class C, (1-month USD CME Term SOFR + 2.45%) <br> 6.20% 10/17/2041 <sup>(a)(c)(d)</sup>  | 6667 | 6695 |
| Tricon Residential Trust, Series 2025-SFR2, Class A, 5.20% 8/17/2044 <sup>(a)(c)</sup>  | 14447 | 14594 |
|  |  | 229640 |
| **Total mortgage-backed obligations** |  | 2740199 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **26** |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes 30.73%** | **Corporate bonds and notes 30.73%** | **Corporate bonds and notes 30.73%** |
| **Financials 6.50%** |  |  |
| AerCap Ireland Capital DAC 1.75% 1/30/2026  | USD<br> 150<br>| $150 |
| Alpha Bank SA 6.875% 6/27/2029 (1-year EUR-ICE Swap EURIBOR + 3.793% on 6/27/2028) <sup>(f)</sup>  | EUR<br> 520<br>| 668 |
| Alpha Bank SA 5.00% 5/12/2030 (1-year EUR-ICE Swap EURIBOR + 2.432% on 5/12/2029) <sup>(f)</sup>  | 300 | 374 |
| Alpha Bank SA 4.25% 6/11/2031 (5-year EUR Mid-Swap + 5.823% on 6/11/2026) <sup>(f)</sup>  | 105 | 124 |
| American Express Co. 5.043% 5/1/2034 (USD-SOFR + 1.835% on 5/1/2033) <sup>(f)</sup>  | USD<br> 71<br>| 73 |
| American International Group, Inc. 5.45% 5/7/2035  | 6112 | 6369 |
| Aon Corp. 3.90% 2/28/2052  | 2567 | 1931 |
| Aon North America, Inc. 5.45% 3/1/2034  | 2525 | 2625 |
| Ardonagh Group Finance, Ltd. 8.875% 2/15/2032 <sup>(c)</sup>  | 3740 | 3902 |
| Aretec Group, Inc. 7.50% 4/1/2029 <sup>(c)</sup>  | 175 | 177 |
| Aretec Group, Inc. 10.00% 8/15/2030 <sup>(c)</sup>  | 319 | 345 |
| Bangkok Bank Public Co., Ltd. 3.733% 9/25/2034 (5-year UST Yield Curve Rate T Note Constant Maturity + <br> 1.90% on 9/25/2029) <sup>(f)</sup>  | 1080 | 1025 |
| Bangkok Bank Public Co., Ltd. 3.466% 9/23/2036 (5-year UST Yield Curve Rate T Note Constant Maturity + <br> 2.15% on 9/23/2031) <sup>(f)</sup>  | 1000 | 910 |
| Bank of America Corp. 5.288% 4/25/2034 (USD-SOFR + 1.91% on 4/25/2033) <sup>(f)</sup>  | 4110 | 4233 |
| Bank of America Corp. 5.872% 9/15/2034 (USD-SOFR + 1.84% on 9/15/2033) <sup>(f)</sup>  | 1080 | 1153 |
| Bank of America Corp. 5.464% 5/9/2036 (USD-SOFR + 1.64% on 5/9/2035) <sup>(f)</sup>  | 2425 | 2525 |
| BlackRock Funding, Inc. 5.25% 3/14/2054  | 2190 | 2101 |
| Blackstone Private Credit Fund 5.95% 7/16/2029  | 4456 | 4548 |
| Block, Inc. 5.625% 8/15/2030 <sup>(c)</sup>  | 1410 | 1439 |
| Block, Inc. 6.50% 5/15/2032  | 2200 | 2289 |
| Block, Inc. 6.00% 8/15/2033 <sup>(c)</sup>  | 3025 | 3107 |
| BNP Paribas SA 2.591% 1/20/2028 (USD-SOFR + 1.228% on 1/20/2027) <sup>(c)(f)</sup>  | 200 | 197 |
| BPCE SA 6.293% 1/14/2036 (USD-SOFR + 2.04% on 1/14/2035) <sup>(c)(f)</sup>  | 7615 | 8132 |
| Bread Financial Holdings, Inc. 6.75% 5/15/2031 <sup>(c)</sup>  | 1725 | 1788 |
| Brown & Brown, Inc. 5.25% 6/23/2032  | 4644 | 4760 |
| Brown & Brown, Inc. 5.55% 6/23/2035  | 5629 | 5775 |
| CaixaBank SA 5.581% 7/3/2036 (USD-SOFR + 1.79% on 7/3/2035) <sup>(c)(f)</sup>  | 2837 | 2916 |
| Capital One Financial Corp. 5.70% 2/1/2030 (USD-SOFR + 1.905% on 2/1/2029) <sup>(f)</sup>  | 1700 | 1769 |
| Capital One Financial Corp. 6.051% 2/1/2035 (USD-SOFR + 2.26% on 2/1/2034) <sup>(f)</sup>  | 3251 | 3462 |
| Capital One Financial Corp. 5.884% 7/26/2035 (USD-SOFR + 1.99% on 7/26/2034) <sup>(f)</sup>  | 1674 | 1763 |
| Charles Schwab Corp. (The) 5.853% 5/19/2034 (USD-SOFR + 2.50% on 5/19/2033) <sup>(f)</sup>  | 675 | 723 |
| Chubb INA Holdings, LLC 5.00% 3/15/2034  | 6865 | 7026 |
| Chubb INA Holdings, LLC 4.90% 8/15/2035  | 1470 | 1477 |
| Citigroup, Inc. 2.52% 11/3/2032 (USD-SOFR + 1.177% on 11/3/2031) <sup>(f)</sup>  | 1238 | 1110 |
| Citigroup, Inc. 3.057% 1/25/2033 (USD-SOFR + 1.351% on 1/25/2032) <sup>(f)</sup>  | 415 | 380 |
| Citigroup, Inc. 6.27% 11/17/2033 (USD-SOFR + 2.338% on 11/17/2032) <sup>(f)</sup>  | 1087 | 1184 |
| Citigroup, Inc. 5.827% 2/13/2035 (USD-SOFR + 2.056% on 2/13/2034) <sup>(f)</sup>  | 100 | 104 |
| Citigroup, Inc. 6.02% 1/24/2036 (USD-SOFR + 1.83% on 1/24/2035) <sup>(f)</sup>  | 1788 | 1874 |
| Citigroup, Inc. 5.333% 3/27/2036 (USD-SOFR + 1.465% on 3/27/2035) <sup>(f)</sup>  | 15590 | 15955 |
| Coinbase Global, Inc. 3.625% 10/1/2031 <sup>(c)</sup>  | 1000 | 892 |
| Compass Group Diversified Holdings, LLC 5.25% 4/15/2029 <sup>(c)</sup>  | 4828 | 4482 |
| Compass Group Diversified Holdings, LLC 5.00% 1/15/2032 <sup>(c)</sup>  | 2141 | 1930 |
| Danske Bank AS 4.298% 4/1/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.75% on <br> 4/1/2027) <sup>(c)(f)</sup>  | 600 | 601 |
| Deutsche Bank AG 5.706% 2/8/2028 (USD-SOFR + 1.594% on 2/8/2027) <sup>(f)</sup>  | 943 | 958 |
| Deutsche Bank AG 6.819% 11/20/2029 (USD-SOFR + 2.51% on 11/20/2028) <sup>(f)</sup>  | 750 | 801 |
| Deutsche Bank AG 5.403% 9/11/2035 (USD-SOFR + 2.05% on 9/11/2034) <sup>(f)</sup>  | 2525 | 2577 |
| Eurobank SA 4.00% 9/24/2030 (1-year EUR Mid-Swap + 2.127% on 9/24/2029) <sup>(f)</sup>  | EUR<br> 100<br>| 121 |
| Eurobank SA 4.875% 4/30/2031 (5-year EUR Mid-Swap + 2.165% on 4/30/2030) <sup>(f)</sup>  | 3050 | 3811 |
| Goldman Sachs Group, Inc. 5.218% 4/23/2031 (USD-SOFR + 1.58% on 4/23/2030) <sup>(f)</sup>  | USD<br> 150<br>| 155 |
| Goldman Sachs Group, Inc. 2.65% 10/21/2032 (USD-SOFR + 1.264% on 10/21/2031) <sup>(f)</sup>  | 415 | 375 |
| Goldman Sachs Group, Inc. 5.851% 4/25/2035 (USD-SOFR + 1.552% on 4/25/2034) <sup>(f)</sup>  | 7555 | 8035 |
| Goldman Sachs Group, Inc. 5.33% 7/23/2035 (USD-SOFR + 1.55% on 7/23/2034) <sup>(f)</sup>  | 6404 | 6582 |
| Goldman Sachs Group, Inc. 4.939% 10/21/2036 (USD-SOFR + 1.33% on 10/21/2035) <sup>(f)</sup>  | 14180 | 14082 |
| Goldman Sachs Group, Inc. 3.436% 2/24/2043 (USD-SOFR + 1.632% on 2/24/2042) <sup>(f)</sup>  | 4293 | 3366 |
| Goldman Sachs Group, Inc. 5.734% 1/25/2056 (USD-SOFR + 1.696% on 1/28/2055) <sup>(f)</sup>  | 1450 | 1467 |
| Goldman Sachs Private Credit Corp. 5.875% 1/31/2031 <sup>(c)</sup>  | 6450 | 6461 |
| Howden UK Refinance PLC 7.25% 2/15/2031 <sup>(c)</sup>  | 425 | 438 |
| HSBC Holdings PLC 5.402% 8/11/2033 (USD-SOFR + 2.87% on 8/11/2032) <sup>(f)</sup>  | 600 | 622 |
| HSBC Holdings PLC 5.45% 3/3/2036 (USD-SOFR + 1.56% on 3/3/2035) <sup>(f)</sup>  | 5356 | 5528 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **27** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Financials (continued)** |  |  |
| HSBC Holdings PLC 5.133% 11/6/2036 (USD-SOFR + 1.43% on 11/6/2035) <sup>(f)</sup>  | USD<br> 1,665<br>| $1670 |
| IIFL Finance, Ltd. 8.75% 7/24/2028 <sup>(c)</sup>  | 4685 | 4813 |
| ING Groep NV 4.017% 3/28/2028 (USD-SOFR + 1.83% on 3/28/2027) <sup>(f)</sup>  | 375 | 375 |
| ION Platform Finance US, Inc. 8.75% 5/1/2029 <sup>(c)</sup>  | 12270 | 12443 |
| ION Platform Finance US, Inc. 9.50% 5/30/2029 <sup>(c)</sup>  | 7094 | 7191 |
| ION Platform Finance US, Inc. 9.00% 8/1/2029 <sup>(c)</sup>  | 9550 | 9445 |
| ION Platform Finance US, Inc. 7.875% 9/30/2032 <sup>(c)</sup>  | 2390 | 2271 |
| Jane Street Group, LLC 6.75% 5/1/2033 <sup>(c)</sup>  | 1315 | 1374 |
| JPMorgan Chase & Co. 4.255% 10/22/2031 (USD-SOFR + 0.93% on 10/22/2030) <sup>(f)</sup>  | 6650 | 6631 |
| JPMorgan Chase & Co. 1.953% 2/4/2032 (USD-SOFR + 1.065% on 2/4/2031) <sup>(f)</sup>  | 30 | 27 |
| JPMorgan Chase & Co. 5.572% 4/22/2036 (USD-SOFR + 1.68% on 4/22/2035) <sup>(f)</sup>  | 13469 | 14137 |
| JPMorgan Chase & Co. 4.81% 10/22/2036 (USD-SOFR + 1.19% on 10/22/2035) <sup>(f)</sup>  | 7450 | 7400 |
| Kasikornbank PCL (Hong Kong Branch) 3.343% 10/2/2031 (5-year UST Yield Curve Rate T Note Constant <br> Maturity + 1.70% on 10/2/2026) <sup>(f)</sup>  | 950 | 938 |
| Marsh & McLennan Cos., Inc. 5.00% 3/15/2035  | 13114 | 13290 |
| Marsh & McLennan Cos., Inc. 5.40% 3/15/2055  | 8570 | 8257 |
| Mastercard, Inc. 4.55% 1/15/2035  | 2525 | 2526 |
| MetLife, Inc. 5.375% 7/15/2033  | 300 | 316 |
| Metropolitan Life Global Funding I 5.15% 3/28/2033 <sup>(c)</sup>  | 2522 | 2596 |
| Metropolitan Life Global Funding I 5.05% 1/8/2034 <sup>(c)</sup>  | 4105 | 4189 |
| Morgan Stanley 4.21% 4/20/2028 (USD-SOFR + 1.61% on 4/20/2027) <sup>(f)</sup>  | 471 | 472 |
| Morgan Stanley 5.164% 4/20/2029 (USD-SOFR + 1.59% on 4/20/2028) <sup>(f)</sup>  | 160 | 164 |
| Morgan Stanley 4.654% 10/18/2030 (USD-SOFR + 1.10% on 10/18/2029) <sup>(f)</sup>  | 289 | 293 |
| Morgan Stanley 5.25% 4/21/2034 (USD-SOFR + 1.87% on 4/21/2033) <sup>(f)</sup>  | 1411 | 1453 |
| Morgan Stanley 5.466% 1/18/2035 (USD-SOFR + 1.73% on 1/18/2034) <sup>(f)</sup>  | 463 | 481 |
| Morgan Stanley 5.831% 4/19/2035 (USD-SOFR + 1.58% on 4/19/2034) <sup>(f)</sup>  | 4581 | 4870 |
| Morgan Stanley 4.892% 10/22/2036 (USD-SOFR + 1.314% on 10/22/2035) <sup>(f)</sup>  | 22484 | 22294 |
| Morgan Stanley 5.942% 2/7/2039 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.80% on <br> 2/7/2039) <sup>(f)</sup>  | 1750 | 1840 |
| Morgan Stanley 5.516% 11/19/2055 (USD-SOFR + 1.71% on 11/19/2054) <sup>(f)</sup>  | 1063 | 1052 |
| Navient Corp. 5.50% 3/15/2029  | 1620 | 1609 |
| Navient Corp. 5.625% 8/1/2033  | 21874 | 20018 |
| OneMain Finance Corp. 7.50% 5/15/2031  | 6398 | 6736 |
| OneMain Finance Corp. 7.125% 11/15/2031  | 5305 | 5542 |
| OneMain Finance Corp. 7.125% 9/15/2032  | 4460 | 4639 |
| Osaic Holdings, Inc. 8.00% 8/1/2033 <sup>(c)</sup>  | 1170 | 1223 |
| Piraeus Bank SA 6.75% 12/5/2029 (1-year EUR Mid-Swap + 3.837% on 12/5/2028) <sup>(f)</sup>  | EUR<br> 210<br>| 272 |
| Piraeus Bank SA 5.00% 4/16/2030 (1-year EUR-ICE Swap EURIBOR + 2.245% on 4/16/2029) <sup>(f)</sup>  | 1900 | 2360 |
| PNC Financial Services Group, Inc. 6.875% 10/20/2034 (USD-SOFR + 2.284% on 10/20/2033) <sup>(f)</sup>  | USD<br> 6,045<br>| 6844 |
| PNC Financial Services Group, Inc. 5.676% 1/22/2035 (USD-SOFR + 1.902% on 1/22/2034) <sup>(f)</sup>  | 273 | 288 |
| PNC Financial Services Group, Inc. 5.401% 7/23/2035 (USD-SOFR + 1.599% on 7/23/2034) <sup>(f)</sup>  | 10481 | 10846 |
| PNC Financial Services Group, Inc. 5.575% 1/29/2036 (USD-SOFR + 1.394% on 1/29/2035) <sup>(f)</sup>  | 2550 | 2660 |
| Starwood Property Trust, Inc. 5.75% 1/15/2031 <sup>(c)</sup>  | 2785 | 2818 |
| State Street Corp. 5.159% 5/18/2034 (USD-SOFR + 1.89% on 5/18/2033) <sup>(f)</sup>  | 276 | 285 |
| State Street Corp. 4.784% 10/23/2036 (USD-SOFR + 1.215% on 10/23/2035) <sup>(f)</sup>  | 1880 | 1871 |
| Synchrony Financial 5.45% 3/6/2031 (USD-SOFR + 1.68% on 3/6/2030) <sup>(f)</sup>  | 5035 | 5165 |
| Synchrony Financial 7.25% 2/2/2033  | 6199 | 6664 |
| Synchrony Financial 6.00% 7/29/2036 (USD-SOFR Index + 2.07% on 7/29/2035) <sup>(f)</sup>  | 5070 | 5218 |
| Truist Financial Corp. 5.153% 8/5/2032 (USD-SOFR + 1.571% on 8/5/2031) <sup>(f)</sup>  | 1755 | 1814 |
| Truist Financial Corp. 5.867% 6/8/2034 (USD-SOFR + 2.361% on 6/8/2033) <sup>(f)</sup>  | 1972 | 2099 |
| Truist Financial Corp. 5.711% 1/24/2035 (USD-SOFR + 1.922% on 1/24/2034) <sup>(f)</sup>  | 6832 | 7190 |
| Truist Financial Corp. 4.964% 10/23/2036 (USD-SOFR + 1.395% on 10/23/2035) <sup>(f)</sup>  | 3048 | 3017 |
| U.S. Bancorp 5.836% 6/12/2034 (USD-SOFR + 2.26% on 6/10/2033) <sup>(f)</sup>  | 25 | 27 |
| U.S. Bancorp 5.678% 1/23/2035 (USD-SOFR + 1.86% on 1/23/2034) <sup>(f)</sup>  | 4115 | 4347 |
| U.S. Bancorp 5.424% 2/12/2036 (USD-SOFR + 1.411% on 2/12/2035) <sup>(f)</sup>  | 8660 | 9004 |
| UBS Group AG 3.091% 5/14/2032 (USD-SOFR + 1.73% on 5/14/2031) <sup>(c)(f)</sup>  | 2520 | 2341 |
| Wells Fargo & Co. 4.808% 7/25/2028 (USD-SOFR + 1.98% on 7/25/2027) <sup>(f)</sup>  | 1050 | 1062 |
| Wells Fargo & Co. 5.605% 4/23/2036 (USD-SOFR + 1.74% on 4/23/2035) <sup>(f)</sup>  | 9843 | 10321 |
|  |  | 422835 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **28** |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Health care 3.65%** |  |  |
| AbbVie, Inc. 5.05% 3/15/2034  | USD<br> 10,199<br>| $10485 |
| AbbVie, Inc. 5.35% 3/15/2044  | 625 | 618 |
| AbbVie, Inc. 5.50% 3/15/2064  | 1164 | 1132 |
| Amgen, Inc. 5.25% 3/2/2030  | 623 | 647 |
| Amgen, Inc. 4.20% 3/1/2033  | 7270 | 7109 |
| Amgen, Inc. 5.25% 3/2/2033  | 6653 | 6889 |
| Amgen, Inc. 4.875% 3/1/2053  | 725 | 639 |
| Amgen, Inc. 5.65% 3/2/2053  | 14652 | 14357 |
| Amgen, Inc. 5.75% 3/2/2063  | 6000 | 5859 |
| Ascension Health 4.923% 11/15/2035  | 1635 | 1638 |
| AstraZeneca Finance, LLC 5.00% 2/26/2034  | 1725 | 1786 |
| Baxter International, Inc. 5.65% 12/15/2035  | 6028 | 6103 |
| Baxter International, Inc. 3.132% 12/1/2051  | 7009 | 4415 |
| Bristol-Myers Squibb Co. 5.20% 2/22/2034  | 846 | 880 |
| Bristol-Myers Squibb Co. 5.50% 2/22/2044  | 325 | 326 |
| Bristol-Myers Squibb Co. 5.55% 2/22/2054  | 6973 | 6853 |
| Centene Corp. 2.50% 3/1/2031  | 8250 | 7129 |
| Centene Corp. 2.625% 8/1/2031  | 2141 | 1843 |
| CHS / Community Health Systems, Inc. 5.25% 5/15/2030 <sup>(c)</sup>  | 75 | 71 |
| Cigna Group (The) 5.25% 1/15/2036  | 4100 | 4177 |
| Cigna Group (The) 6.00% 1/15/2056  | 2000 | 2058 |
| CVS Health Corp. 1.875% 2/28/2031  | 50 | 44 |
| CVS Health Corp. 5.45% 9/15/2035  | 13688 | 14016 |
| CVS Health Corp. 6.00% 6/1/2044  | 3100 | 3118 |
| CVS Health Corp. 6.05% 6/1/2054  | 7410 | 7372 |
| CVS Health Corp. 6.20% 9/15/2055  | 9659 | 9814 |
| CVS Health Corp. 6.00% 6/1/2063  | 1210 | 1174 |
| CVS Health Corp. 6.25% 9/15/2065  | 1500 | 1511 |
| DaVita, Inc. 6.75% 7/15/2033 <sup>(c)</sup>  | 300 | 311 |
| Elevance Health, Inc. 5.00% 1/15/2036  | 8500 | 8453 |
| Elevance Health, Inc. 4.55% 5/15/2052  | 203 | 169 |
| Elevance Health, Inc. 5.70% 9/15/2055  | 3000 | 2941 |
| Endo Finance Holdings, Inc. 8.50% 4/15/2031 <sup>(c)</sup>  | 2455 | 2598 |
| Gilead Sciences, Inc. 5.25% 10/15/2033  | 650 | 683 |
| Gilead Sciences, Inc. 5.10% 6/15/2035  | 4558 | 4673 |
| Grifols SA 7.50% 5/1/2030  | EUR<br> 2,500<br>| 3094 |
| HCA, Inc. 3.625% 3/15/2032  | USD<br> 79<br>| 75 |
| Humana, Inc. 5.75% 4/15/2054  | 4267 | 4033 |
| Molina Healthcare, Inc. 6.50% 2/15/2031 <sup>(c)</sup>  | 2555 | 2627 |
| Owens & Minor, Inc. 4.50% 3/31/2029 <sup>(c)</sup>  | 1400 | 951 |
| Owens & Minor, Inc. 6.25% 4/1/2030 <sup>(c)</sup>  | 8345 | 5333 |
| Pfizer Investment Enterprises Pte., Ltd. 5.11% 5/19/2043  | 1750 | 1686 |
| Pfizer Investment Enterprises Pte., Ltd. 5.30% 5/19/2053  | 10936 | 10362 |
| Sotera Health Holdings, LLC 7.375% 6/1/2031 <sup>(c)</sup>  | 1700 | 1785 |
| Takeda U.S. Financing, Inc. 5.20% 7/7/2035  | 9434 | 9613 |
| Takeda U.S. Financing, Inc. 5.90% 7/7/2055  | 1337 | 1354 |
| Tenet Healthcare Corp. 6.75% 5/15/2031  | 200 | 208 |
| Teva Pharmaceutical Finance Netherlands III BV 3.15% 10/1/2026  | 460 | 456 |
| Teva Pharmaceutical Finance Netherlands III BV 4.75% 5/9/2027  | 1121 | 1125 |
| Teva Pharmaceutical Finance Netherlands III BV 6.75% 3/1/2028  | 982 | 1020 |
| Teva Pharmaceutical Finance Netherlands III BV 5.125% 5/9/2029  | 4473 | 4527 |
| Teva Pharmaceutical Finance Netherlands III BV 7.875% 9/15/2029  | 1300 | 1432 |
| Teva Pharmaceutical Finance Netherlands III BV 8.125% 9/15/2031  | 2338 | 2695 |
| Teva Pharmaceutical Finance Netherlands III BV 6.00% 12/1/2032  | 2664 | 2798 |
| Teva Pharmaceutical Finance Netherlands IV BV 5.75% 12/1/2030  | 6890 | 7153 |
| UnitedHealth Group, Inc. 4.20% 5/15/2032  | 230 | 227 |
| UnitedHealth Group, Inc. 5.00% 4/15/2034  | 1500 | 1526 |
| UnitedHealth Group, Inc. 5.30% 6/15/2035  | 13166 | 13637 |
| UnitedHealth Group, Inc. 5.50% 7/15/2044  | 4770 | 4738 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **29** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Health care (continued)** |  |  |
| UnitedHealth Group, Inc. 4.75% 5/15/2052  | USD<br> 455<br>| $393 |
| UnitedHealth Group, Inc. 5.95% 6/15/2055  | 11517 | 11834 |
| Viatris, Inc. 4.00% 6/22/2050  | 1022 | 681 |
|  |  | 237254 |
| **Energy 3.44%** |  |  |
| 3R Lux SARL 9.75% 2/5/2031 <sup>(c)</sup>  | 585 | 603 |
| APA Corp. 5.25% 2/1/2042  | 615 | 524 |
| Ascent Resources Utica Holdings, LLC 5.875% 6/30/2029 <sup>(c)</sup>  | 2565 | 2582 |
| Ascent Resources Utica Holdings, LLC 6.625% 10/15/2032 <sup>(c)</sup>  | 1050 | 1089 |
| Ascent Resources Utica Holdings, LLC 6.625% 7/15/2033 <sup>(c)</sup>  | 1660 | 1719 |
| Blue Racer Midstream, LLC 7.00% 7/15/2029 <sup>(c)</sup>  | 675 | 707 |
| Borr IHC, Ltd. 10.00% 11/15/2028 <sup>(c)</sup>  | 1814 | 1826 |
| Borr IHC, Ltd. 10.375% 11/15/2030 <sup>(c)</sup>  | 505 | 504 |
| Cheniere Energy, Inc. 4.625% 10/15/2028  | 175 | 175 |
| Civitas Resources, Inc. 8.375% 7/1/2028 <sup>(c)</sup>  | 1625 | 1676 |
| Civitas Resources, Inc. 8.625% 11/1/2030 <sup>(c)</sup>  | 4025 | 4221 |
| Civitas Resources, Inc. 8.75% 7/1/2031 <sup>(c)</sup>  | 4445 | 4617 |
| Civitas Resources, Inc. 9.625% 6/15/2033 <sup>(c)</sup>  | 630 | 681 |
| CNX Resources Corp. 7.375% 1/15/2031 <sup>(c)</sup>  | 185 | 192 |
| CNX Resources Corp. 7.25% 3/1/2032 <sup>(c)</sup>  | 5171 | 5401 |
| Comstock Resources, Inc. 5.875% 1/15/2030 <sup>(c)</sup>  | 4207 | 4095 |
| ConocoPhillips Co. 3.80% 3/15/2052  | 5420 | 4000 |
| Constellation Oil Services Holding SA 9.375% 11/7/2029 <sup>(c)</sup>  | 4290 | 4466 |
| Crescent Energy Finance, LLC 9.25% 2/15/2028 <sup>(c)</sup>  | 846 | 875 |
| Crescent Energy Finance, LLC 7.625% 4/1/2032 <sup>(c)</sup>  | 1440 | 1397 |
| Crescent Energy Finance, LLC 7.375% 1/15/2033 <sup>(c)</sup>  | 6979 | 6627 |
| Devon Energy Corp. 5.75% 9/15/2054  | 2270 | 2087 |
| Diamondback Energy, Inc. 5.15% 1/30/2030  | 731 | 753 |
| Diamondback Energy, Inc. 5.40% 4/18/2034  | 4428 | 4535 |
| Diamondback Energy, Inc. 5.75% 4/18/2054  | 3367 | 3185 |
| Diamondback Energy, Inc. 5.90% 4/18/2064  | 1777 | 1679 |
| Ecopetrol SA 7.75% 2/1/2032  | 3750 | 3864 |
| Ecopetrol SA 8.875% 1/13/2033  | 3408 | 3642 |
| Ecopetrol SA 8.375% 1/19/2036  | 6055 | 6235 |
| Energean Israel Finance, Ltd. 5.875% 3/30/2031 <sup>(c)</sup>  | 1055 | 1023 |
| EQT Corp. 7.50% 6/1/2030  | 25 | 28 |
| EQT Corp. 4.75% 1/15/2031  | 1994 | 2008 |
| Expand Energy Corp. 5.875% 2/1/2029 <sup>(c)</sup>  | 425 | 425 |
| Expand Energy Corp. 6.75% 4/15/2029 <sup>(c)</sup>  | 860 | 865 |
| Exxon Mobil Corp. 3.452% 4/15/2051  | 3405 | 2446 |
| Genesis Energy, LP 8.25% 1/15/2029  | 1017 | 1065 |
| Genesis Energy, LP 7.875% 5/15/2032  | 2200 | 2295 |
| GeoPark, Ltd. 8.75% 1/31/2030 <sup>(c)</sup>  | 4750 | 4441 |
| Global Partners, LP 8.25% 1/15/2032 <sup>(c)</sup>  | 285 | 301 |
| Gulfport Energy Operating Corp. 6.75% 9/1/2029 <sup>(c)</sup>  | 845 | 874 |
| Harvest Midstream I, LP 7.50% 9/1/2028 <sup>(c)</sup>  | 75 | 76 |
| Hilcorp Energy I, LP 6.00% 4/15/2030 <sup>(c)</sup>  | 135 | 132 |
| Hilcorp Energy I, LP 6.25% 4/15/2032 <sup>(c)</sup>  | 5812 | 5492 |
| Hilcorp Energy I, LP 8.375% 11/1/2033 <sup>(c)</sup>  | 4210 | 4317 |
| Kodiak Gas Services, LLC 6.50% 10/1/2033 <sup>(c)</sup>  | 995 | 1017 |
| Kodiak Gas Services, LLC 6.75% 10/1/2035 <sup>(c)</sup>  | 995 | 1024 |
| Kraken Oil & Gas Partners, LLC 7.625% 8/15/2029 <sup>(c)</sup>  | 825 | 818 |
| Leviathan Bond, Ltd. 6.75% 6/30/2030 <sup>(c)</sup>  | 650 | 662 |
| Matador Resources Co. 6.25% 4/15/2033 <sup>(c)</sup>  | 2080 | 2091 |
| MPLX, LP 5.40% 9/15/2035  | 1637 | 1650 |
| Murphy Oil Corp. 6.00% 10/1/2032  | 675 | 675 |
| MV24 Capital BV 6.748% 6/1/2034  | 625 | 620 |
| Nabors Industries, Inc. 8.875% 8/15/2031 <sup>(c)</sup>  | 3160 | 3068 |
| NFE Financing, LLC 12.00% 11/15/2029 <sup>(c)(g)</sup>  | 19686 | 5709 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **30** |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Energy (continued)** |  |  |
| NGL Energy Operating, LLC 8.125% 2/15/2029 <sup>(c)</sup>  | USD<br> 773<br>| $803 |
| NGL Energy Operating, LLC 8.375% 2/15/2032 <sup>(c)</sup>  | 2020 | 2093 |
| Noble Finance II, LLC 8.00% 4/15/2030 <sup>(c)</sup>  | 3425 | 3560 |
| Northern Oil and Gas, Inc. 8.75% 6/15/2031 <sup>(c)</sup>  | 1215 | 1228 |
| ONEOK, Inc. 4.00% 7/13/2027  | 50 | 50 |
| ONEOK, Inc. 6.35% 1/15/2031  | 40 | 43 |
| Permian Resources Operating, LLC 7.00% 1/15/2032 <sup>(c)</sup>  | 285 | 298 |
| Petroleos Mexicanos 8.75% 6/2/2029  | 3175 | 3406 |
| Petroleos Mexicanos 6.84% 1/23/2030  | 6696 | 6804 |
| Petroleos Mexicanos 5.95% 1/28/2031  | 7960 | 7709 |
| Petroleos Mexicanos 6.70% 2/16/2032  | 3950 | 3942 |
| Petroleos Mexicanos 10.00% 2/7/2033  | 2300 | 2667 |
| Petroleos Mexicanos 6.375% 1/23/2045  | 35 | 28 |
| Petroleos Mexicanos 6.75% 9/21/2047  | 305 | 251 |
| Petroleos Mexicanos 6.35% 2/12/2048  | 77 | 60 |
| Petroleos Mexicanos 7.69% 1/23/2050  | 110 | 99 |
| Petroleos Mexicanos 6.95% 1/28/2060  | 381 | 310 |
| Pluspetrol SA 8.50% 5/30/2032 <sup>(c)</sup>  | 3407 | 3467 |
| Raizen Fuels Finance SA 6.70% 2/25/2037 <sup>(c)</sup>  | 4230 | 3424 |
| Repsol E&P Capital Markets US, LLC 5.976% 9/16/2035 <sup>(c)</sup>  | 3198 | 3263 |
| Seadrill Finance, Ltd. 8.375% 8/1/2030 <sup>(c)</sup>  | 210 | 219 |
| Shell Finance US, Inc. 2.75% 4/6/2030  | 75 | 71 |
| Shell Finance US, Inc. 3.00% 11/26/2051 <sup>(c)</sup>  | 4726 | 3044 |
| Summit Midstream Holdings, LLC 8.625% 10/31/2029 <sup>(c)</sup>  | 1360 | 1411 |
| Sunoco, LP 7.00% 5/1/2029 <sup>(c)</sup>  | 1250 | 1304 |
| Sunoco, LP 4.50% 4/30/2030  | 150 | 147 |
| Sunoco, LP 5.625% 3/15/2031 <sup>(c)</sup>  | 595 | 600 |
| Sunoco, LP 7.25% 5/1/2032 <sup>(c)</sup>  | 2551 | 2699 |
| Sunoco, LP 6.25% 7/1/2033 <sup>(c)</sup>  | 1340 | 1373 |
| Sunoco, LP 5.875% 3/15/2034 <sup>(c)</sup>  | 630 | 630 |
| Talos Production, Inc. 9.00% 2/1/2029 <sup>(c)</sup>  | 705 | 735 |
| Talos Production, Inc. 9.375% 2/1/2031 <sup>(c)</sup>  | 1685 | 1761 |
| Targa Resources Corp. 5.65% 2/15/2036  | 1990 | 2046 |
| TotalEnergies Capital SA 5.488% 4/5/2054  | 760 | 735 |
| Transocean Aquila, Ltd. 8.00% 9/30/2028 <sup>(c)</sup>  | 897 | 923 |
| Transocean International, Ltd. 8.75% 2/15/2030 <sup>(c)</sup>  | 509 | 532 |
| Transocean International, Ltd. 7.875% 10/15/2032 <sup>(c)</sup>  | 645 | 677 |
| Transocean, Inc. 8.25% 5/15/2029 <sup>(c)</sup>  | 1180 | 1190 |
| Transocean, Inc. 8.50% 5/15/2031 <sup>(c)</sup>  | 1210 | 1199 |
| Transportadora de Gas del Sur SA 8.50% 7/24/2031 <sup>(c)</sup>  | 1630 | 1697 |
| USA Compression Partners, LP 7.125% 3/15/2029 <sup>(c)</sup>  | 1340 | 1388 |
| Venture Global Calcasieu Pass, LLC 6.25% 1/15/2030 <sup>(c)</sup>  | 1549 | 1569 |
| Venture Global Calcasieu Pass, LLC 4.125% 8/15/2031 <sup>(c)</sup>  | 2019 | 1839 |
| Venture Global LNG, Inc. 8.125% 6/1/2028 <sup>(c)</sup>  | 750 | 760 |
| Venture Global LNG, Inc. 8.375% 6/1/2031 <sup>(c)</sup>  | 6193 | 6162 |
| Venture Global Plaquemines LNG, LLC 6.125% 12/15/2030 <sup>(c)</sup>  | 1025 | 1044 |
| Venture Global Plaquemines LNG, LLC 7.50% 5/1/2033 <sup>(c)</sup>  | 5125 | 5540 |
| Venture Global Plaquemines LNG, LLC 6.50% 1/15/2034 <sup>(c)</sup>  | 2875 | 2946 |
| Venture Global Plaquemines LNG, LLC 6.50% 6/15/2034 <sup>(c)</sup>  | 1200 | 1227 |
| Venture Global Plaquemines LNG, LLC 7.75% 5/1/2035 <sup>(c)</sup>  | 2400 | 2629 |
| Venture Global Plaquemines LNG, LLC 6.875% 1/31/2036 <sup>(c)</sup>  | 2325 | 2383 |
| Vista Energy Argentina S.A.U. 8.50% 6/10/2033 <sup>(c)</sup>  | 3775 | 3884 |
| Vista Energy Argentina S.A.U. 7.625% 12/10/2035 <sup>(c)</sup>  | 4400 | 4402 |
| Vital Energy, Inc. 7.875% 4/15/2032 <sup>(c)</sup>  | 1955 | 1928 |
| Weatherford International, Ltd. 8.625% 4/30/2030 <sup>(c)</sup>  | 46 | 47 |
| Wildfire Intermediate Holdings, LLC 7.50% 10/15/2029 <sup>(c)</sup>  | 2195 | 2221 |
|  |  | 223546 |
| **Communication services 2.84%** |  |  |
| Alphabet, Inc. 4.375% 11/15/2032  | 878 | 881 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **31** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Communication services (continued)** |  |  |
| Alphabet, Inc. 4.70% 11/15/2035  | USD<br> 2,416<br>| $2418 |
| Altice France 6.50% 3/15/2032 <sup>(c)</sup>  | 350 | 336 |
| Altice France 6.875% 7/15/2032 <sup>(c)</sup>  | 2650 | 2543 |
| AT&T, Inc. 2.55% 12/1/2033  | 1850 | 1579 |
| AT&T, Inc. 3.50% 9/15/2053  | 2270 | 1520 |
| AT&T, Inc. 3.55% 9/15/2055  | 1200 | 800 |
| CCO Holdings, LLC 4.75% 2/1/2032 <sup>(c)</sup>  | 1789 | 1636 |
| CCO Holdings, LLC 4.50% 5/1/2032  | 800 | 719 |
| CCO Holdings, LLC 4.50% 6/1/2033 <sup>(c)</sup>  | 2785 | 2441 |
| CCO Holdings, LLC 4.25% 1/15/2034 <sup>(c)</sup>  | 2967 | 2526 |
| Charter Communications Operating, LLC 4.40% 4/1/2033  | 890 | 839 |
| Charter Communications Operating, LLC 6.65% 2/1/2034  | 580 | 611 |
| Charter Communications Operating, LLC 4.80% 3/1/2050  | 6383 | 4800 |
| Charter Communications Operating, LLC 3.70% 4/1/2051  | 19541 | 12349 |
| Charter Communications Operating, LLC 3.90% 6/1/2052  | 13413 | 8669 |
| Charter Communications Operating, LLC 5.25% 4/1/2053  | 18648 | 14773 |
| Charter Communications Operating, LLC 6.70% 12/1/2055  | 3100 | 2975 |
| Comcast Corp. 2.887% 11/1/2051  | 4085 | 2391 |
| Comcast Corp. 5.65% 6/1/2054  | 6574 | 6167 |
| Connect Finco SARL 9.00% 9/15/2029 <sup>(c)</sup>  | 12280 | 13041 |
| DIRECTV Financing, LLC 8.875% 2/1/2030 <sup>(c)</sup>  | 2675 | 2710 |
| DISH Network Corp. 11.75% 11/15/2027 <sup>(c)</sup>  | 1450 | 1510 |
| EchoStar Corp. 10.75% 11/30/2029  | 3478 | 3849 |
| Frontier Communications Holdings, LLC 5.00% 5/1/2028 <sup>(c)</sup>  | 711 | 713 |
| Gray Media, Inc. 10.50% 7/15/2029 <sup>(c)</sup>  | 5311 | 5720 |
| Gray Media, Inc. 4.75% 10/15/2030 <sup>(c)</sup>  | 140 | 109 |
| Gray Media, Inc. 5.375% 11/15/2031 <sup>(c)</sup>  | 1829 | 1373 |
| Gray Media, Inc. 9.625% 7/15/2032 <sup>(c)</sup>  | 1390 | 1444 |
| Lindblad Expeditions, LLC 7.00% 9/15/2030 <sup>(c)</sup>  | 1070 | 1117 |
| Meta Platforms, Inc. 4.875% 11/15/2035  | 9519 | 9510 |
| Meta Platforms, Inc. 5.50% 11/15/2045  | 2343 | 2276 |
| Meta Platforms, Inc. 4.45% 8/15/2052  | 725 | 590 |
| Meta Platforms, Inc. 5.40% 8/15/2054  | 5813 | 5413 |
| Meta Platforms, Inc. 5.625% 11/15/2055  | 6901 | 6629 |
| Meta Platforms, Inc. 5.75% 11/15/2065  | 2408 | 2299 |
| News Corp. 3.875% 5/15/2029 <sup>(c)</sup>  | 369 | 358 |
| Sirius XM Radio, LLC 4.00% 7/15/2028 <sup>(c)</sup>  | 944 | 924 |
| Sirius XM Radio, LLC 4.125% 7/1/2030 <sup>(c)</sup>  | 1950 | 1856 |
| Sirius XM Radio, LLC 3.875% 9/1/2031 <sup>(c)</sup>  | 12939 | 11924 |
| Snap, Inc. 6.875% 3/1/2033 <sup>(c)</sup>  | 5340 | 5538 |
| T-Mobile USA, Inc. 5.15% 4/15/2034  | 150 | 153 |
| T-Mobile USA, Inc. 3.40% 10/15/2052  | 3345 | 2251 |
| T-Mobile USA, Inc. 5.75% 1/15/2054  | 252 | 247 |
| Univision Communications, Inc. 8.00% 8/15/2028 <sup>(c)</sup>  | 3460 | 3586 |
| Univision Communications, Inc. 4.50% 5/1/2029 <sup>(c)</sup>  | 5802 | 5578 |
| Univision Communications, Inc. 7.375% 6/30/2030 <sup>(c)</sup>  | 8006 | 8166 |
| Univision Communications, Inc. 8.50% 7/31/2031 <sup>(c)</sup>  | 7014 | 7333 |
| Univision Communications, Inc. 9.375% 8/1/2032 <sup>(c)</sup>  | 2400 | 2581 |
| Verizon Communications, Inc. 1.75% 1/20/2031  | 300 | 264 |
| Verizon Communications, Inc. 5.25% 4/2/2035  | 240 | 244 |
| Verizon Communications, Inc. 5.371% 7/2/2037 <sup>(c)</sup>  | 40 | 40 |
| Verizon Communications, Inc. 2.85% 9/3/2041  | 52 | 37 |
| Verizon Communications, Inc. 3.55% 3/22/2051  | 200 | 142 |
| Verizon Communications, Inc. 3.875% 3/1/2052  | 782 | 580 |
| Verizon Communications, Inc. 2.987% 10/30/2056  | 337 | 201 |
| WarnerMedia Holdings, Inc. 5.05% 3/15/2042  | 4738 | 3346 |
| WarnerMedia Holdings, Inc. 5.141% 3/15/2052  | 158 | 104 |
|  |  | 184729 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **32** |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Consumer discretionary 2.57%** |  |  |
| Advance Auto Parts, Inc. 3.90% 4/15/2030  | USD<br> 1,555<br>| $1429 |
| Advance Auto Parts, Inc. 3.50% 3/15/2032  | 6670 | 5684 |
| Advance Auto Parts, Inc. 7.375% 8/1/2033 <sup>(c)</sup>  | 5641 | 5667 |
| Allied Universal Holdco, LLC 4.625% 6/1/2028 <sup>(c)</sup>  | 802 | 791 |
| Allied Universal Holdco, LLC 6.875% 6/15/2030 <sup>(c)</sup>  | 5235 | 5454 |
| Amazon.com, Inc. 3.95% 4/13/2052  | 400 | 312 |
| AutoNation, Inc. 5.89% 3/15/2035  | 7200 | 7466 |
| Caesars Entertainment, Inc. 6.50% 2/15/2032 <sup>(c)</sup>  | 2000 | 2050 |
| Carnival Corp. 5.125% 5/1/2029 <sup>(c)</sup>  | 1945 | 1968 |
| Carnival Corp. 7.00% 8/15/2029 <sup>(c)</sup>  | 4420 | 4641 |
| Carnival Corp. 5.75% 3/15/2030 <sup>(c)</sup>  | 6807 | 7006 |
| Carnival Corp. 6.125% 2/15/2033 <sup>(c)</sup>  | 9365 | 9675 |
| Cougar JV Subsidiary, LLC 8.00% 5/15/2032 <sup>(c)</sup>  | 465 | 499 |
| Fertitta Entertainment, LLC 4.625% 1/15/2029 <sup>(c)</sup>  | 350 | 340 |
| Ford Motor Co. 3.25% 2/12/2032  | 940 | 829 |
| Ford Motor Co. 6.10% 8/19/2032  | 770 | 794 |
| Ford Motor Co. 4.75% 1/15/2043  | 995 | 789 |
| Ford Motor Credit Co., LLC 6.95% 6/10/2026  | 600 | 605 |
| Ford Motor Credit Co., LLC 2.70% 8/10/2026  | 1475 | 1461 |
| Ford Motor Credit Co., LLC 5.85% 5/17/2027  | 1700 | 1727 |
| Ford Motor Credit Co., LLC 4.95% 5/28/2027  | 1065 | 1070 |
| Ford Motor Credit Co., LLC 5.918% 3/20/2028  | 4926 | 5043 |
| Ford Motor Credit Co., LLC 6.798% 11/7/2028  | 1000 | 1049 |
| Ford Motor Credit Co., LLC 5.113% 5/3/2029  | 250 | 250 |
| Ford Motor Credit Co., LLC 7.20% 6/10/2030  | 4010 | 4301 |
| Ford Motor Credit Co., LLC 5.73% 9/5/2030  | 4241 | 4308 |
| Ford Motor Credit Co., LLC 6.054% 11/5/2031  | 7666 | 7863 |
| Ford Motor Credit Co., LLC 6.532% 3/19/2032  | 2469 | 2583 |
| Ford Motor Credit Co., LLC 7.122% 11/7/2033  | 1578 | 1696 |
| Ford Motor Credit Co., LLC 6.125% 3/8/2034  | 2347 | 2386 |
| Ford Motor Credit Co., LLC 6.50% 2/7/2035  | 2456 | 2545 |
| General Motors Financial Co., Inc. 2.35% 2/26/2027  | 75 | 74 |
| General Motors Financial Co., Inc. 5.625% 4/4/2032  | 2134 | 2223 |
| General Motors Financial Co., Inc. 5.45% 9/6/2034  | 2003 | 2033 |
| General Motors Financial Co., Inc. 5.90% 1/7/2035  | 2482 | 2589 |
| General Motors Financial Co., Inc. 6.15% 7/15/2035  | 3561 | 3754 |
| GENM Capital Labuan, Ltd. 3.882% 4/19/2031  | 4000 | 3627 |
| Genting New York, LLC 7.25% 10/1/2029 <sup>(c)</sup>  | 625 | 641 |
| Gildan Activewear, Inc. 5.40% 10/7/2035 <sup>(c)</sup>  | 1290 | 1288 |
| Great Canadian Gaming Corp. 8.75% 11/15/2029 <sup>(c)</sup>  | 1275 | 1289 |
| Hilton Domestic Operating Co., Inc. 4.00% 5/1/2031 <sup>(c)</sup>  | 600 | 574 |
| Home Depot, Inc. 4.95% 6/25/2034  | 1150 | 1177 |
| Home Depot, Inc. 4.65% 9/15/2035  | 2997 | 2972 |
| Home Depot, Inc. 5.40% 6/25/2064  | 8221 | 7873 |
| Hyundai Capital America 1.65% 9/17/2026 <sup>(c)</sup>  | 100 | 98 |
| International Game Technology PLC 5.25% 1/15/2029 <sup>(c)</sup>  | 650 | 651 |
| LCM Investments Holdings II, LLC 4.875% 5/1/2029 <sup>(c)</sup>  | 1335 | 1316 |
| LCM Investments Holdings II, LLC 8.25% 8/1/2031 <sup>(c)</sup>  | 1350 | 1429 |
| Lithia Motors, Inc. 3.875% 6/1/2029 <sup>(c)</sup>  | 308 | 298 |
| Lithia Motors, Inc. 4.375% 1/15/2031 <sup>(c)</sup>  | 900 | 866 |
| Macy's Retail Holdings, LLC 5.875% 3/15/2030 <sup>(c)</sup>  | 17 | 17 |
| McDonald's Corp. 4.95% 3/3/2035  | 778 | 789 |
| Newell Brands, Inc. 8.50% 6/1/2028 <sup>(c)</sup>  | 1265 | 1328 |
| Newell Brands, Inc. 6.375% 5/15/2030  | 3841 | 3756 |
| Newell Brands, Inc. 6.625% 5/15/2032  | 8813 | 8562 |
| Newell Brands, Inc. 7.375% 4/1/2036  | 2045 | 1923 |
| Nissan Motor Acceptance Co., LLC 5.55% 9/13/2029 <sup>(c)</sup>  | 1200 | 1197 |
| Nissan Motor Co., Ltd. 8.125% 7/17/2035 <sup>(c)</sup>  | 8469 | 9007 |
| Party City Holdings, Inc. 0% 8/27/2030 <sup>(h)</sup>  | 148 | 3 |
| Royal Caribbean Cruises, Ltd. 5.375% 7/15/2027 <sup>(c)</sup>  | 400 | 403 |
| Royal Caribbean Cruises, Ltd. 5.375% 1/15/2036  | 5001 | 5024 |
| Sonic Automotive, Inc. 4.875% 11/15/2031 <sup>(c)</sup>  | 3463 | 3360 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **33** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Consumer discretionary (continued)** |  |  |
| Universal Entertainment Corp. 9.875% 8/1/2029 <sup>(c)</sup>  | USD<br> 3,130<br>| $3074 |
| Wynn Resorts Finance, LLC 7.125% 2/15/2031 <sup>(c)</sup>  | 514 | 557 |
| ZF North America Capital, Inc. 6.75% 4/23/2030 <sup>(c)</sup>  | 1090 | 1078 |
|  |  | 167131 |
| **Utilities 2.31%** |  |  |
| Aegea Finance SARL 9.00% 1/20/2031 <sup>(c)</sup>  | 2063 | 2185 |
| AES Panama Generation Holdings, SRL 4.375% 5/31/2030 <sup>(c)</sup>  | 187 | 176 |
| Alabama Power Co. 5.85% 11/15/2033  | 300 | 323 |
| Comision Federal de Electricidad 6.45% 1/24/2035 <sup>(c)</sup>  | 1685 | 1736 |
| Duke Energy Corp. 6.10% 9/15/2053  | 300 | 311 |
| Edison International 4.125% 3/15/2028  | 250 | 247 |
| Edison International 5.25% 11/15/2028  | 339 | 344 |
| Edison International 5.25% 3/15/2032  | 7636 | 7645 |
| Edison International, junior subordinated, 7.875% 6/15/2054 (5-year UST Yield Curve Rate T Note Constant <br> Maturity + 3.658% on 6/15/2029) <sup>(f)</sup>  | 4905 | 5152 |
| Electricite de France SA 9.125% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T <br> Note Constant Maturity + 5.411% on 6/15/2033) <sup>(c)(f)</sup>  | 1325 | 1546 |
| Florida Power & Light Co. 5.30% 6/15/2034  | 150 | 157 |
| Florida Power & Light Co. 5.30% 4/1/2053  | 60 | 57 |
| Florida Power & Light Co. 5.60% 6/15/2054  | 2300 | 2312 |
| Florida Power & Light Co. 5.70% 3/15/2055  | 1825 | 1853 |
| Jersey Central Power & Light Co. 5.10% 1/15/2035  | 450 | 455 |
| Long Ridge Energy, LLC 8.75% 2/15/2032 <sup>(c)</sup>  | 4085 | 4352 |
| NiSource, Inc. 5.40% 6/30/2033  | 250 | 259 |
| Pacific Gas and Electric Co. 3.15% 1/1/2026  | 40 | 40 |
| Pacific Gas and Electric Co. 4.65% 8/1/2028  | 600 | 605 |
| Pacific Gas and Electric Co. 4.55% 7/1/2030  | 755 | 752 |
| Pacific Gas and Electric Co. 3.25% 6/1/2031  | 200 | 186 |
| Pacific Gas and Electric Co. 6.15% 1/15/2033  | 400 | 425 |
| Pacific Gas and Electric Co. 6.40% 6/15/2033  | 5485 | 5926 |
| Pacific Gas and Electric Co. 5.80% 5/15/2034  | 375 | 390 |
| Pacific Gas and Electric Co. 5.70% 3/1/2035  | 2930 | 3014 |
| Pacific Gas and Electric Co. 4.95% 7/1/2050  | 9705 | 8214 |
| Pacific Gas and Electric Co. 3.50% 8/1/2050  | 16980 | 11472 |
| Pacific Gas and Electric Co. 6.70% 4/1/2053  | 8779 | 9277 |
| Pacific Gas and Electric Co. 5.90% 10/1/2054  | 1750 | 1685 |
| Pacific Gas and Electric Co. 6.15% 3/1/2055  | 6670 | 6630 |
| PacifiCorp 5.45% 2/15/2034  | 5538 | 5620 |
| PacifiCorp 5.35% 12/1/2053  | 6047 | 5317 |
| PacifiCorp 5.50% 5/15/2054  | 5351 | 4786 |
| PacifiCorp 5.80% 1/15/2055  | 8880 | 8293 |
| PG&E Corp. 5.25% 7/1/2030  | 546 | 542 |
| PG&E Corp., junior subordinated, 7.375% 3/15/2055 (5-year UST Yield Curve Rate T Note Constant Maturity + <br> 3.883% on 3/15/2030) <sup>(f)</sup>  | 9375 | 9770 |
| Public Service Enterprise Group, Inc. 5.40% 3/15/2035  | 200 | 206 |
| Southern California Edison Co. 5.20% 6/1/2034  | 8262 | 8311 |
| Southern California Edison Co. 4.00% 4/1/2047  | 485 | 364 |
| Southern California Edison Co. 3.65% 2/1/2050  | 1947 | 1363 |
| Southern California Edison Co. 2.95% 2/1/2051  | 11940 | 7292 |
| Southern California Edison Co. 3.45% 2/1/2052  | 11030 | 7340 |
| Southern California Edison Co. 5.75% 4/15/2054  | 1260 | 1187 |
| Southern California Edison Co. 5.90% 3/1/2055  | 6061 | 5859 |
| Southern California Edison Co. 6.20% 9/15/2055  | 1780 | 1795 |
| Talen Energy Supply, LLC 8.625% 6/1/2030 <sup>(c)</sup>  | 1567 | 1660 |
| YPF Energia Electrica SA 7.875% 10/16/2032 <sup>(c)</sup>  | 2790 | 2802 |
|  |  | 150233 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **34** |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Consumer staples 2.15%** |  |  |
| Albertsons Cos., Inc. 5.50% 3/31/2031 <sup>(c)</sup>  | USD<br> 3,750<br>| $3794 |
| Albertsons Cos., Inc. 5.75% 3/31/2034 <sup>(c)</sup>  | 5400 | 5429 |
| Altria Group, Inc. 5.25% 8/6/2035  | 2420 | 2451 |
| B&G Foods, Inc. 5.25% 9/15/2027  | 400 | 392 |
| BAT Capital Corp. 2.259% 3/25/2028  | 100 | 96 |
| BAT Capital Corp. 4.742% 3/16/2032  | 450 | 454 |
| BAT Capital Corp. 4.625% 3/22/2033  | 1095 | 1089 |
| BAT Capital Corp. 6.421% 8/2/2033  | 673 | 743 |
| BAT Capital Corp. 6.00% 2/20/2034  | 7832 | 8389 |
| BAT Capital Corp. 5.625% 8/15/2035  | 10888 | 11347 |
| BAT Capital Corp. 4.758% 9/6/2049  | 1551 | 1314 |
| BAT Capital Corp. 5.65% 3/16/2052  | 929 | 879 |
| BAT Capital Corp. 7.081% 8/2/2053  | 9514 | 10798 |
| Coca-Cola Co. 5.20% 1/14/2055  | 1995 | 1925 |
| Constellation Brands, Inc. 4.35% 5/9/2027  | 326 | 327 |
| Constellation Brands, Inc. 4.75% 5/9/2032  | 1683 | 1691 |
| Constellation Brands, Inc. 4.90% 5/1/2033  | 886 | 891 |
| Coty, Inc. 6.625% 7/15/2030 <sup>(c)</sup>  | 490 | 504 |
| Coty, Inc. 5.60% 1/15/2031 <sup>(c)</sup>  | 5049 | 5100 |
| Imperial Brands Finance PLC 5.875% 7/1/2034 <sup>(c)</sup>  | 4740 | 4959 |
| Keurig Dr Pepper, Inc. 3.20% 5/1/2030  | 40 | 38 |
| Keurig Dr Pepper, Inc. 5.15% 5/15/2035  | 2399 | 2405 |
| Kronos Acquisition Holdings, Inc. 10.75% 6/30/2032 <sup>(c)</sup>  | 905 | 413 |
| Lamb Weston Holdings, Inc. 4.375% 1/31/2032 <sup>(c)</sup>  | 250 | 238 |
| Mars, Inc. 5.20% 3/1/2035 <sup>(c)</sup>  | 16346 | 16807 |
| Mars, Inc. 5.65% 5/1/2045 <sup>(c)</sup>  | 2039 | 2057 |
| Mars, Inc. 5.70% 5/1/2055 <sup>(c)</sup>  | 10520 | 10487 |
| Mars, Inc. 5.80% 5/1/2065 <sup>(c)</sup>  | 730 | 734 |
| Minerva Luxembourg SA 8.875% 9/13/2033 <sup>(c)</sup>  | 2030 | 2221 |
| Mondelez International, Inc. 5.125% 5/6/2035  | 1140 | 1167 |
| Philip Morris International, Inc. 5.75% 11/7/2032  | 1297 | 1388 |
| Philip Morris International, Inc. 5.375% 2/15/2033  | 400 | 419 |
| Philip Morris International, Inc. 5.625% 9/7/2033  | 9650 | 10252 |
| Philip Morris International, Inc. 5.25% 2/13/2034  | 6230 | 6442 |
| Philip Morris International, Inc. 4.90% 11/1/2034  | 11383 | 11480 |
| Philip Morris International, Inc. 4.625% 10/29/2035  | 5207 | 5096 |
| Post Holdings, Inc. 4.625% 4/15/2030 <sup>(c)</sup>  | 650 | 633 |
| Post Holdings, Inc. 6.25% 2/15/2032 <sup>(c)</sup>  | 540 | 555 |
| Post Holdings, Inc. 6.375% 3/1/2033 <sup>(c)</sup>  | 4000 | 4044 |
|  |  | 139448 |
| **Information technology 1.95%** |  |  |
| ams-OSRAM AG 12.25% 3/30/2029 <sup>(c)</sup>  | 2365 | 2524 |
| Analog Devices, Inc. 2.95% 10/1/2051  | 3353 | 2184 |
| Broadcom, Inc. 5.15% 11/15/2031  | 2302 | 2389 |
| Broadcom, Inc. 4.80% 10/15/2034  | 3822 | 3831 |
| Broadcom, Inc. 5.20% 7/15/2035  | 4480 | 4592 |
| Broadcom, Inc. 3.187% 11/15/2036 <sup>(c)</sup>  | 450 | 382 |
| Broadcom, Inc. 4.926% 5/15/2037 <sup>(c)</sup>  | 4426 | 4370 |
| Cisco Systems, Inc. 5.05% 2/26/2034  | 3000 | 3088 |
| Cisco Systems, Inc. 5.10% 2/24/2035  | 1590 | 1635 |
| Cloud Software Group, Inc. 9.00% 9/30/2029 <sup>(c)</sup>  | 8115 | 8457 |
| Cloud Software Group, Inc. 8.25% 6/30/2032 <sup>(c)</sup>  | 5043 | 5273 |
| CommScope Technologies, LLC 5.00% 3/15/2027 <sup>(c)</sup>  | 1500 | 1498 |
| CommScope, LLC 4.75% 9/1/2029 <sup>(c)</sup>  | 304 | 304 |
| Diebold Nixdorf, Inc. 7.75% 3/31/2030 <sup>(c)</sup>  | 4000 | 4267 |
| Intel Corp. 3.05% 8/12/2051  | 750 | 462 |
| Intel Corp. 5.60% 2/21/2054  | 4850 | 4481 |
| Microchip Technology, Inc. 5.05% 2/15/2030  | 2541 | 2594 |
| Micron Technology, Inc. 6.05% 11/1/2035  | 6510 | 6949 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **35** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Information technology (continued)** |  |  |
| NCR Atleos Corp. 9.50% 4/1/2029 <sup>(c)</sup>  | USD<br> 900<br>| $977 |
| Oracle Corp. 5.50% 8/3/2035  | 7556 | 7408 |
| Oracle Corp. 5.20% 9/26/2035  | 14200 | 13610 |
| Oracle Corp. 3.95% 3/25/2051  | 450 | 296 |
| Oracle Corp. 5.95% 9/26/2055  | 2900 | 2571 |
| Roper Technologies, Inc. 4.90% 10/15/2034  | 2525 | 2520 |
| Roper Technologies, Inc. 5.10% 9/15/2035  | 3785 | 3815 |
| Synopsys, Inc. 5.15% 4/1/2035  | 3100 | 3152 |
| Synopsys, Inc. 5.70% 4/1/2055  | 9060 | 8997 |
| UKG, Inc. 6.875% 2/1/2031 <sup>(c)</sup>  | 2150 | 2212 |
| Unisys Corp. 10.625% 1/15/2031 <sup>(c)</sup>  | 7016 | 7193 |
| Viasat, Inc. 5.625% 4/15/2027 <sup>(c)</sup>  | 410 | 411 |
| Wolfspeed, Inc. 4.00% PIK and 9.875% Cash 6/23/2030 <sup>(i)(j)</sup>  | 1211 | 1320 |
| WULF Compute, LLC 7.75% 10/15/2030 <sup>(c)</sup>  | 2845 | 2933 |
| X.AI Corp. 12.50% 6/30/2030  | 9400 | 10029 |
|  |  | 126724 |
| **Real estate 1.92%** |  |  |
| Boston Properties, LP 2.55% 4/1/2032  | 2281 | 1992 |
| Boston Properties, LP 2.45% 10/1/2033  | 6752 | 5589 |
| Boston Properties, LP 6.50% 1/15/2034  | 3766 | 4057 |
| Boston Properties, LP 5.75% 1/15/2035  | 8049 | 8283 |
| Equinix, Inc. 3.40% 2/15/2052  | 4250 | 2920 |
| Highwoods Realty, LP 5.35% 1/15/2033  | 5100 | 5108 |
| Howard Hughes Corp. (The) 4.125% 2/1/2029 <sup>(c)</sup>  | 930 | 904 |
| Howard Hughes Corp. (The) 4.375% 2/1/2031 <sup>(c)</sup>  | 4147 | 3952 |
| Hudson Pacific Properties, LP 3.25% 1/15/2030  | 4230 | 3580 |
| Kennedy-Wilson, Inc. 4.75% 3/1/2029  | 2925 | 2855 |
| Kennedy-Wilson, Inc. 4.75% 2/1/2030  | 4642 | 4379 |
| Kennedy-Wilson, Inc. 5.00% 3/1/2031  | 10785 | 10152 |
| Kilroy Realty, LP 2.65% 11/15/2033  | 1500 | 1231 |
| Kilroy Realty, LP 6.25% 1/15/2036  | 3959 | 4095 |
| Ladder Capital Finance Holdings LLLP 5.50% 8/1/2030  | 1160 | 1188 |
| MPT Operating Partnership, LP 5.00% 10/15/2027  | 8263 | 8009 |
| MPT Operating Partnership, LP 3.50% 3/15/2031  | 425 | 309 |
| MPT Operating Partnership, LP 8.50% 2/15/2032 <sup>(c)</sup>  | 9855 | 10532 |
| Piedmont Operating Partnership, LP 5.625% 1/15/2033  | 1262 | 1276 |
| Prologis, LP 5.125% 1/15/2034  | 3375 | 3471 |
| Prologis, LP 5.00% 3/15/2034  | 2780 | 2836 |
| Prologis, LP 5.00% 1/31/2035  | 747 | 757 |
| Prologis, LP 5.25% 3/15/2054  | 580 | 551 |
| Service Properties Trust 8.00% 9/30/2027 <sup>(c)</sup>  | 940 | 851 |
| Service Properties Trust 3.95% 1/15/2028  | 1554 | 1468 |
| Service Properties Trust 8.375% 6/15/2029  | 9002 | 9058 |
| Service Properties Trust 4.95% 10/1/2029  | 5550 | 4842 |
| Service Properties Trust 4.375% 2/15/2030  | 10082 | 8551 |
| Service Properties Trust 8.625% 11/15/2031 <sup>(c)</sup>  | 8015 | 8435 |
| Trust 2401 7.70% 1/23/2032 <sup>(c)</sup>  | 226 | 250 |
| Trust Fibra Uno 7.70% 1/23/2032 <sup>(c)</sup>  | 451 | 495 |
| VICI Properties, LP 4.125% 8/15/2030 <sup>(c)</sup>  | 250 | 242 |
| VICI Properties, LP 5.125% 5/15/2032  | 930 | 937 |
| VICI Properties, LP 5.625% 4/1/2035  | 1668 | 1704 |
|  |  | 124859 |
| **Materials 1.84%** |  |  |
| Ball Corp. 6.00% 6/15/2029  | 200 | 206 |
| Ball Corp. 5.50% 9/15/2033  | 5390 | 5499 |
| BHP Billiton Finance (USA), Ltd. 4.90% 2/28/2033  | 314 | 321 |
| BHP Billiton Finance (USA), Ltd. 5.25% 9/8/2033  | 1546 | 1608 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **36** |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Materials (continued)** |  |  |
| Braskem Netherlands Finance BV 8.75% 1/12/2031 <sup>(c)</sup>  | USD<br> 1,530<br>| $600 |
| Braskem Netherlands Finance BV 7.25% 2/13/2033  | 6107 | 2370 |
| Braskem Netherlands Finance BV 7.25% 2/13/2033 <sup>(c)</sup>  | 475 | 184 |
| Braskem Netherlands Finance BV 8.00% 10/15/2034 <sup>(c)</sup>  | 6715 | 2606 |
| Braskem Netherlands Finance BV 8.00% 10/15/2034  | 750 | 291 |
| Braskem Netherlands Finance BV 5.875% 1/31/2050  | 150 | 52 |
| Celanese US Holdings, LLC 6.85% 11/15/2028  | 1194 | 1250 |
| Celanese US Holdings, LLC 6.50% 4/15/2030  | 6634 | 6673 |
| Celanese US Holdings, LLC 7.00% 2/15/2031  | 685 | 702 |
| Celanese US Holdings, LLC 6.879% 7/15/2032  | 1921 | 2001 |
| Celanese US Holdings, LLC 7.20% 11/15/2033  | 6775 | 7163 |
| Celanese US Holdings, LLC 7.375% 2/15/2034  | 1565 | 1591 |
| Celulosa Arauco y Constitucion SA 6.18% 5/5/2032 <sup>(c)</sup>  | 1755 | 1816 |
| Cleveland-Cliffs, Inc. 6.875% 11/1/2029 <sup>(c)</sup>  | 2723 | 2822 |
| Cleveland-Cliffs, Inc. 4.875% 3/1/2031 <sup>(c)</sup>  | 600 | 578 |
| Cleveland-Cliffs, Inc. 7.50% 9/15/2031 <sup>(c)</sup>  | 5675 | 5991 |
| Cleveland-Cliffs, Inc. 7.375% 5/1/2033 <sup>(c)</sup>  | 4250 | 4424 |
| Cleveland-Cliffs, Inc. 7.625% 1/15/2034 <sup>(c)</sup>  | 2600 | 2719 |
| Consolidated Energy Finance SA 12.00% 2/15/2031 <sup>(c)</sup>  | 5800 | 4108 |
| Dow Chemical Co. (The) 5.35% 3/15/2035  | 1849 | 1833 |
| Dow Chemical Co. (The) 5.65% 3/15/2036  | 9566 | 9530 |
| Dow Chemical Co. (The) 5.55% 11/30/2048  | 571 | 503 |
| Dow Chemical Co. (The) 3.60% 11/15/2050  | 2070 | 1338 |
| Dow Chemical Co. (The) 6.90% 5/15/2053  | 107 | 110 |
| Dow Chemical Co. (The) 5.60% 2/15/2054  | 6082 | 5292 |
| Dow Chemical Co. (The) 5.95% 3/15/2055  | 941 | 857 |
| First Quantum Minerals, Ltd. 9.375% 3/1/2029 <sup>(c)</sup>  | 6245 | 6584 |
| FXI Holdings, Inc. 16.00% PIK 11/15/2029 (14.00% on 11/15/2028) <sup>(c)(f)(i)</sup>  | 2117 | 1207 |
| FXI Holdings, Inc. 11.00% 11/15/2030 <sup>(c)</sup>  | 3620 | 3258 |
| International Flavors & Fragrances, Inc. 2.30% 11/1/2030 <sup>(c)</sup>  | 113 | 102 |
| JH North America Holdings, Inc. 5.875% 1/31/2031 <sup>(c)</sup>  | 665 | 680 |
| JH North America Holdings, Inc. 6.125% 7/31/2032 <sup>(c)</sup>  | 645 | 662 |
| LSB Industries, Inc. 6.25% 10/15/2028 <sup>(c)</sup>  | 383 | 384 |
| LYB International Finance III, LLC 5.125% 1/15/2031  | 203 | 204 |
| LYB International Finance III, LLC 5.50% 3/1/2034  | 1461 | 1445 |
| LYB International Finance III, LLC 6.15% 5/15/2035  | 690 | 707 |
| LYB International Finance III, LLC 5.875% 1/15/2036  | 1185 | 1180 |
| Magnera Corp. 7.25% 11/15/2031 <sup>(c)</sup>  | 6550 | 6437 |
| Minera Mexico, SA de CV, 5.625% 2/12/2032 <sup>(c)</sup>  | 2700 | 2797 |
| NOVA Chemicals Corp. 4.25% 5/15/2029 <sup>(c)</sup>  | 1385 | 1356 |
| PT Krakatau Posco 6.375% 6/11/2029  | 2900 | 2997 |
| Quikrete Holdings, Inc. 6.75% 3/1/2033 <sup>(c)</sup>  | 880 | 920 |
| Sasol Financing USA, LLC 8.75% 5/3/2029 <sup>(c)</sup>  | 1165 | 1187 |
| SCIH Salt Holdings, Inc. 4.875% 5/1/2028 <sup>(c)</sup>  | 742 | 745 |
| Sealed Air Corp. 6.125% 2/1/2028 <sup>(c)</sup>  | 607 | 617 |
| Stillwater Mining Co. 4.00% 11/16/2026 <sup>(j)</sup>  | 600 | 596 |
| Vale Overseas, Ltd. 6.40% 6/28/2054  | 4035 | 4122 |
| Vale Overseas, Ltd. 6.00% 2/25/2056 (5-year UST Yield Curve Rate T Note Constant Maturity + 2.431% on <br> 2/25/2031) <sup>(c)(f)</sup>  | 3050 | 3054 |
| Veritiv Operating Co. 10.50% 11/30/2030 <sup>(c)</sup>  | 930 | 1001 |
| Westlake Corp. 5.55% 11/15/2035  | 2254 | 2255 |
|  |  | 119535 |
| **Industrials 1.55%** |  |  |
| Ambipar Lux SARL 9.875% 2/6/2031 <sup>(c)</sup>  | 800 | 180 |
| Ambipar Lux SARL 10.875% 2/5/2033 <sup>(c)</sup>  | 1575 | 279 |
| Amentum Holdings, Inc. 7.25% 8/1/2032 <sup>(c)</sup>  | 1440 | 1519 |
| BAE Systems PLC 5.30% 3/26/2034 <sup>(c)</sup>  | 2264 | 2345 |
| Boeing Co. (The) 2.75% 2/1/2026  | 115 | 115 |
| Boeing Co. (The) 3.625% 2/1/2031  | 1642 | 1578 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **37** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Industrials (continued)** |  |  |
| Boeing Co. (The) 6.388% 5/1/2031  | USD<br> 1,201<br>| $1304 |
| Boeing Co. (The) 5.705% 5/1/2040  | 655 | 669 |
| Boeing Co. (The) 5.805% 5/1/2050  | 10412 | 10257 |
| Boeing Co. (The) 6.858% 5/1/2054  | 5472 | 6150 |
| Boeing Co. (The) 5.93% 5/1/2060  | 1200 | 1178 |
| Canadian Pacific Railway Co. 5.20% 3/30/2035  | 1150 | 1184 |
| Canadian Pacific Railway Co. 3.10% 12/2/2051  | 2745 | 1823 |
| Canadian Pacific Railway, Co. 3.00% 12/2/2041  | 880 | 660 |
| Clean Harbors, Inc. 6.375% 2/1/2031 <sup>(c)</sup>  | 73 | 75 |
| Clean Harbors, Inc. 5.75% 10/15/2033 <sup>(c)</sup>  | 1630 | 1675 |
| CoreLogic, Inc. 4.50% 5/1/2028 <sup>(c)</sup>  | 300 | 295 |
| Embraer Netherlands Finance BV 5.98% 2/11/2035  | 510 | 542 |
| EquipmentShare.com, Inc. 8.625% 5/15/2032 <sup>(c)</sup>  | 1880 | 1988 |
| EquipmentShare.com, Inc. 8.00% 3/15/2033 <sup>(c)</sup>  | 3380 | 3561 |
| FTAI Aviation Investors, LLC 5.875% 4/15/2033 <sup>(c)</sup>  | 3000 | 3051 |
| Herc Holdings, Inc. 6.625% 6/15/2029 <sup>(c)</sup>  | 1340 | 1396 |
| Herc Holdings, Inc. 7.00% 6/15/2030 <sup>(c)</sup>  | 1905 | 2006 |
| Herc Holdings, Inc. 5.75% 3/15/2031 <sup>(c)</sup>  | 1545 | 1569 |
| Herc Holdings, Inc. 7.25% 6/15/2033 <sup>(c)</sup>  | 1110 | 1178 |
| Herc Holdings, Inc. 6.00% 3/15/2034 <sup>(c)</sup>  | 1615 | 1638 |
| Honeywell International, Inc. 5.00% 3/1/2035  | 3750 | 3821 |
| Icahn Enterprises, LP 6.25% 5/15/2026  | 833 | 835 |
| Icahn Enterprises, LP 5.25% 5/15/2027  | 3130 | 3089 |
| Icahn Enterprises, LP 9.75% 1/15/2029  | 9078 | 9062 |
| Icahn Enterprises, LP 10.00% 11/15/2029 <sup>(c)</sup>  | 1615 | 1616 |
| IRB Infrastructure Developers, Ltd. 7.11% 3/11/2032 <sup>(c)</sup>  | 685 | 708 |
| LATAM Airlines Group SA 7.875% 4/15/2030 <sup>(c)</sup>  | 830 | 874 |
| Norfolk Southern Corp. 4.45% 3/1/2033  | 78 | 78 |
| Norfolk Southern Corp. 5.35% 8/1/2054  | 4524 | 4325 |
| Paychex, Inc. 5.60% 4/15/2035  | 385 | 403 |
| QXO Building Products, Inc. 6.75% 4/30/2032 <sup>(c)</sup>  | 2955 | 3089 |
| Regal Rexnord Corp. 6.30% 2/15/2030  | 2060 | 2184 |
| Regal Rexnord Corp. 6.40% 4/15/2033  | 2197 | 2364 |
| RTX Corp. 2.82% 9/1/2051  | 925 | 578 |
| RTX Corp. 5.375% 2/27/2053  | 1117 | 1079 |
| Sabre GLBL, Inc. 11.125% 7/15/2030 <sup>(c)</sup>  | 2300 | 1910 |
| Science Applications International Corp. 5.875% 11/1/2033 <sup>(c)</sup>  | 925 | 938 |
| TransDigm, Inc. 6.25% 1/31/2034 <sup>(c)</sup>  | 800 | 831 |
| TransDigm, Inc. 6.75% 1/31/2034 <sup>(c)</sup>  | 2550 | 2658 |
| Union Pacific Corp. 5.10% 2/20/2035  | 1736 | 1792 |
| Union Pacific Corp. 2.95% 3/10/2052  | 1885 | 1204 |
| Union Pacific Corp. 4.95% 5/15/2053  | 5361 | 4892 |
| Union Pacific Corp. 5.60% 12/1/2054  | 270 | 270 |
| Verisk Analytics, Inc. 5.125% 2/15/2036  | 3956 | 3984 |
|  |  | 100799 |
| **Municipals 0.01%** |  |  |
| Texas Combined Tirz I, LLC 0% 12/7/2062 <sup>(c)(h)</sup>  | 589 | 589 |
| **Total corporate bonds and notes** |  | 1997682 |
| **U.S. Treasury bonds & notes 15.90%** | **U.S. Treasury bonds & notes 15.90%** | **U.S. Treasury bonds & notes 15.90%** |
| **U.S. Treasury 15.61%** |  |  |
| U.S. Treasury 4.875% 4/30/2026  | 46247 | 46443 |
| U.S. Treasury 4.125% 10/31/2026  | 6325 | 6352 |
| U.S. Treasury 4.625% 6/15/2027  | 30490 | 30979 |
| U.S. Treasury 3.625% 8/31/2027  | 67339 | 67487 |
| U.S. Treasury 3.50% 9/30/2027  | 3310 | 3311 |
| U.S. Treasury 3.375% 11/30/2027  | 44 | 44 |
| U.S. Treasury 3.375% 12/31/2027  | 101501 | 101307 |
| U.S. Treasury 4.25% 2/15/2028  | 28213 | 28647 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **38** |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. Treasury bonds & notes (continued)** | **U.S. Treasury bonds & notes (continued)** | **U.S. Treasury bonds & notes (continued)** |
| **U.S. Treasury (continued)** |  |  |
| U.S. Treasury 3.50% 12/15/2028  | USD<br> 9,739<br>| $9728 |
| U.S. Treasury 4.00% 5/31/2030  | 81744 | 82798 |
| U.S. Treasury 3.625% 8/31/2030  | 4600 | 4584 |
| U.S. Treasury 3.625% 10/31/2030  | 10500 | 10459 |
| U.S. Treasury 3.625% 12/31/2030  | 107225 | 106734 |
| U.S. Treasury 3.875% 12/31/2032  | 35813 | 35670 |
| U.S. Treasury 4.00% 11/15/2035  | 8246 | 8134 |
| U.S. Treasury 4.625% 2/15/2040  | 9900 | 10023 |
| U.S. Treasury 4.75% 2/15/2041  | 38980 | 39738 |
| U.S. Treasury 4.625% 11/15/2044  | 78355 | 76898 |
| U.S. Treasury 4.875% 8/15/2045  | 6400 | 6462 |
| U.S. Treasury 4.625% 11/15/2045  | 153002 | 149703 |
| U.S. Treasury 4.75% 5/15/2055 <sup>(k)</sup>  | 171312 | 168725 |
| U.S. Treasury 4.75% 8/15/2055  | 20870 | 20563 |
|  |  | 1014789 |
| **U.S. Treasury inflation-protected securities 0.29%** |  |  |
| U.S. Treasury Inflation-Protected Security 1.625% 10/15/2027 <sup>(l)</sup>  | 18794 | 18942 |
| **Total U.S. Treasury bonds & notes** |  | 1033731 |
| **Asset-backed obligations 7.25%** | **Asset-backed obligations 7.25%** | **Asset-backed obligations 7.25%** |
| **Other asset-backed securities 3.02%** |  |  |
| ACHD Trust, Series 2025-DS1, Class A, 5.978% 1/9/2034 <sup>(a)(c)</sup>  | 2065 | 2071 |
| ACHD Trust, Series 2025-DS1, Class B, 9.38% 1/9/2034 <sup>(a)(c)</sup>  | 800 | 803 |
| Ansley Park Capital, LLC, Series 2025-A, Class C, 4.82% 4/20/2035 <sup>(a)(c)</sup>  | 3660 | 3686 |
| Auxilior Term Funding, LLC, Series 24-1, Class C, 6.01% 7/15/2031 <sup>(a)(c)</sup>  | 4786 | 4904 |
| Blue Owl Asset Leasing Trust, Series 2024-1A, Class B, 5.41% 3/15/2030 <sup>(a)(c)</sup>  | 713 | 722 |
| CCG Receivables Trust, Series 2025-1, Class D, 5.28% 10/14/2032 <sup>(a)(c)</sup>  | 544 | 549 |
| CF Hippolyta, LLC, Series 2020-1, Class B1, 2.28% 7/15/2060 <sup>(a)(c)</sup>  | 486 | 309 |
| CFG Investments, Ltd., Series 2025-1, Class A, 6.47% 3/25/2036 <sup>(a)(c)</sup>  | 8561 | 8709 |
| Clarus Capital Funding, LLC, Series 2024-1A, Class C, 5.01% 8/20/2032 <sup>(a)(c)</sup>  | 7083 | 7110 |
| Commercial Equipment Finance, Series 2025-1A, Class A, 4.83% 5/15/2031 <sup>(a)(c)</sup>  | 6632 | 6664 |
| Crockett Partners Equipment Co. II, LLC, Series 2024-1C, Class A, 6.05% 1/20/2031 <sup>(a)(c)</sup>  | 3237 | 3297 |
| EquipmentShare, Series 2024-2M, Class A, 5.70% 12/20/2032 <sup>(a)(c)</sup>  | 3811 | 3870 |
| EquipmentShare, Series 2025-1M, Class A, 5.48% 9/26/2033 <sup>(a)(c)</sup>  | 8719 | 8785 |
| Global SC Finance SRL, Series 2025-1H, Class A, 6.169% 9/20/2045 <sup>(a)(c)</sup>  | 7968 | 7989 |
| Global SC Finance SRL, Series 2025-1H, Class B, 7.848% 9/20/2045 <sup>(a)(c)</sup>  | 5696 | 5712 |
| GreatAmerica Leasing Receivables Funding, LLC, Series 2025-1, Class A4, 4.58% 1/15/2032 <sup>(a)(c)</sup>  | 11834 | 12045 |
| Mercury Financial Credit Card Master Trust, Series 2024-2A, Class A, 6.56% 7/20/2029 <sup>(a)(c)</sup>  | 5734 | 5766 |
| MMP Capital, Series 2025-A, Class A, 5.36% 12/15/2031 <sup>(a)(c)</sup>  | 1023 | 1033 |
| New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 10/20/2061 <sup>(a)(c)</sup>  | 156 | 131 |
| NMEF Funding, LLC, Series 2025-A, Class B, 5.18% 7/15/2032 <sup>(a)(c)</sup>  | 8617 | 8733 |
| NMEF Funding, LLC, Series 2025-B, Class A2, 4.64% 1/18/2033 <sup>(a)(c)</sup>  | 8464 | 8500 |
| NMEF Funding, LLC, Series 2025-B, Class B, 4.73% 1/18/2033 <sup>(a)(c)</sup>  | 2648 | 2669 |
| OWN Equipment Fund III, Series 2025-2M, Class A, 5.42% 3/27/2034 <sup>(a)(c)</sup>  | 28811 | 29003 |
| OWN Equipment Fund III, Series 2025-2M, Class B, 6.49% 3/27/2034 <sup>(a)(c)</sup>  | 1824 | 1829 |
| OWN Equipment Fund III, Series 2025-2M, Class C, 8.77% 3/27/2034 <sup>(a)(c)</sup>  | 1002 | 1005 |
| PEAC Solutions Receivables, LLC, Series 2024-1A, Class B, 5.79% 11/20/2030 <sup>(a)(c)</sup>  | 7274 | 7481 |
| PK ALIFT Loan Funding 4, LP, Series 2024-2, Class A, 5.052% 10/15/2039 <sup>(a)(c)</sup>  | 2489 | 2500 |
| SCF Equipment Trust, LLC, Series 2025-1A, Class D, 5.88% 11/20/2035 <sup>(a)(c)</sup>  | 866 | 897 |
| SCF Equipment Trust, LLC, Series 2025-2A, Class B, 4.51% 6/20/2036 <sup>(a)(c)</sup>  | 9044 | 9092 |
| SCF Equipment Trust, LLC, Series 2025-2A, Class C, 4.82% 6/20/2036 <sup>(a)(c)</sup>  | 4283 | 4316 |
| SCF Equipment Trust, LLC, Series 2025-2A, Class D, 5.33% 6/20/2036 <sup>(a)(c)</sup>  | 1041 | 1051 |
| SCF Equipment Trust, LLC, Series 2025-2A, Class E, 6.21% 6/20/2036 <sup>(a)(c)</sup>  | 2556 | 2564 |
| TAL Advantage V, LLC, Series 2020-1A, Class A, 2.05% 9/20/2045 <sup>(a)(c)</sup>  | 1775 | 1701 |
| Textainer Marine Containers, Ltd., Series 2020-2A, Class A, 2.10% 9/20/2045 <sup>(a)(c)</sup>  | 1719 | 1634 |
| Textainer Marine Containers, Ltd., Series 2020-3, Class A, 2.11% 9/20/2045 <sup>(a)(c)</sup>  | 3042 | 2914 |
| Textainer Marine Containers, Ltd., Series 2025-1H, Class A, 6.43% 7/23/2050 <sup>(a)(c)</sup>  | 7791 | 7838 |
| Triton Container Finance VIII, LLC, Series 2020-1, Class A, 2.11% 9/20/2045 <sup>(a)(c)</sup>  | 965 | 912 |
| U.S. Bank National Association, Series 2025-SUP1, Class B, 5.582% 2/25/2032 <sup>(a)(c)</sup>  | 1807 | 1817 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **39** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| **Other asset-backed securities (continued)** |  |  |
| Verdant Receivables, LLC, Series 2024-1, Class C, 6.25% 12/12/2031 <sup>(a)(c)</sup>  | USD<br> 771<br>| $800 |
| VFI ABS, LLC, Series 2025-1A, Class A, 4.78% 6/24/2030 <sup>(a)(c)</sup>  | 2042 | 2053 |
| Wingspire Equipment Finance, LLC, Series 2024-1A, Class B, 5.06% 9/20/2032 <sup>(a)(c)</sup>  | 2333 | 2358 |
| Wingspire Equipment Finance, LLC, Series 2024-1A, Class C, 5.28% 9/20/2032 <sup>(a)(c)</sup>  | 1653 | 1674 |
| Wingspire Equipment Finance, LLC, Series 2025-1A, Class A2, 4.33% 9/20/2033 <sup>(a)(c)</sup>  | 432 | 433 |
| Wingspire Equipment Finance, LLC, Series 2025-1A, Class C, 4.76% 9/20/2033 <sup>(a)(c)</sup>  | 640 | 642 |
| Wingspire Equipment Finance, LLC, Series 2025-1A, Class D, 5.45% 9/20/2033 <sup>(a)(c)</sup>  | 1563 | 1575 |
| Zayo Issuer, LLC, Series 2025-2A, Class A2, 5.953% 6/20/2055 <sup>(a)(c)</sup>  | 3000 | 3081 |
| Zayo Issuer, LLC, Series 2025-2A, Class B, 6.586% 6/20/2055 <sup>(a)(c)</sup>  | 3000 | 3099 |
|  |  | 196326 |
| **Auto loan 2.28%** |  |  |
| American Credit Acceptance Receivables Trust, Series 2024-2, Class D, 6.53% 4/12/2030 <sup>(a)(c)</sup>  | 7281 | 7437 |
| Arivo Acceptance Auto Loan Receivables Trust, Series 2025-1A, Class C, 5.42% 12/15/2031 <sup>(a)(c)</sup>  | 1922 | 1925 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2022-5, Class B, 7.09% 4/20/2027 <sup>(a)(c)</sup>  | 1596 | 1604 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-5, Class C, 6.85% 4/20/2028 <sup>(a)(c)</sup>  | 3333 | 3406 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-4A, Class B, 6.32% 6/20/2029 <sup>(a)(c)</sup>  | 2369 | 2465 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-4A, Class C, 7.24% 6/20/2029 <sup>(a)(c)</sup>  | 890 | 934 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-4A, Class D, 7.31% 6/20/2029 <sup>(a)(c)</sup>  | 1155 | 1187 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-6, Class C, 7.03% 12/20/2029 <sup>(a)(c)</sup>  | 4000 | 4206 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-6A, Class D, 7.37% 12/20/2029 <sup>(a)(c)</sup>  | 1994 | 2051 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-8A, Class D, 7.52% 2/20/2030 <sup>(a)(c)</sup>  | 3081 | 3168 |
| CPS Auto Receivables Trust, Series 2022-B, Class D, 5.19% 8/15/2028 <sup>(a)(c)</sup>  | 924 | 925 |
| CPS Auto Receivables Trust, Series 2024-A, Class E, 8.42% 8/15/2031 <sup>(a)(c)</sup>  | 700 | 730 |
| CPS Auto Receivables Trust, Series 2024-C, Class E, 8.04% 3/15/2032 <sup>(a)(c)</sup>  | 1500 | 1556 |
| CPS Auto Receivables Trust, Series 2025-C, Class E, 6.59% 2/15/2033 <sup>(a)(c)</sup>  | 2777 | 2749 |
| Credit Acceptance Auto Loan Trust, Series 2022-1A, Class C, 5.70% 10/15/2032 <sup>(a)(c)</sup>  | 303 | 303 |
| Credit Acceptance Auto Loan Trust, Series 2022-1A, Class D, 6.63% 12/15/2032 <sup>(a)(c)</sup>  | 1000 | 1000 |
| Credit Acceptance Auto Loan Trust, Series 2024-2, Class C, 6.70% 10/16/2034 <sup>(a)(c)</sup>  | 5769 | 5977 |
| Credit Acceptance Auto Loan Trust, Series 2025-2A, Class C, 5.38% 3/17/2036 <sup>(a)(c)</sup>  | 2919 | 2972 |
| Exeter Automobile Receivables Trust, Series 2022-2A, Class D, 4.56% 7/17/2028 <sup>(a)</sup>  | 19 | 19 |
| Exeter Automobile Receivables Trust, Series 2023-1A, Class E, 12.07% 9/16/2030 <sup>(a)(c)</sup>  | 4000 | 4458 |
| Exeter Automobile Receivables Trust, Series 2023-2A, Class E, 9.75% 11/15/2030 <sup>(a)(c)</sup>  | 848 | 926 |
| Exeter Automobile Receivables Trust, Series 2023-3A, Class E, 9.98% 1/15/2031 <sup>(a)(c)</sup>  | 1022 | 1110 |
| Exeter Automobile Receivables Trust, Series 2023-4A, Class E, 9.57% 2/18/2031 <sup>(a)(c)</sup>  | 3010 | 3256 |
| Exeter Automobile Receivables Trust, Series 2023-5A, Class E, 9.58% 6/16/2031 <sup>(a)(c)</sup>  | 5403 | 5885 |
| Exeter Automobile Receivables Trust, Series 2024-1, Class E, 7.89% 8/15/2031 <sup>(a)(c)</sup>  | 4799 | 5007 |
| Exeter Automobile Receivables Trust, Series 2025-5A, Class D, 5.16% 3/15/2032 <sup>(a)</sup>  | 4431 | 4466 |
| Exeter Automobile Receivables Trust, Series 2025-5A, Class E, 7.15% 6/15/2033 <sup>(a)(c)</sup>  | 3159 | 3175 |
| Ford Credit Floorplan Master Owner Trust, Series 2023-1, Class D, 6.62% 5/15/2028 <sup>(a)(c)</sup>  | 2335 | 2352 |
| GLS Auto Receivables Trust, Series 2023-3, Class E, 9.27% 8/15/2030 <sup>(a)(c)</sup>  | 950 | 1015 |
| GLS Auto Receivables Trust, Series 2023-4, Class E, 9.72% 8/15/2030 <sup>(a)(c)</sup>  | 1900 | 2053 |
| GLS Auto Receivables Trust, Series 2024-2, Class E, 7.98% 5/15/2031 <sup>(a)(c)</sup>  | 1170 | 1223 |
| Hertz Vehicle Financing III, LLC, Series 2023-1, Class C, 6.91% 6/25/2027 <sup>(a)(c)</sup>  | 2200 | 2211 |
| Hertz Vehicle Financing III, LLC, Series 2023-1, Class 1D, 9.13% 6/25/2027 <sup>(a)(c)</sup>  | 672 | 677 |
| Hertz Vehicle Financing III, LLC, Series 2022-2A, Class C, 2.95% 6/26/2028 <sup>(a)(c)</sup>  | 300 | 293 |
| Hertz Vehicle Financing III, LLC, Series 2022-2, Class D, 5.16% 6/26/2028 <sup>(a)(c)</sup>  | 2389 | 2343 |
| Hertz Vehicle Financing III, LLC, Series 2023-2, Class C, 7.13% 9/25/2029 <sup>(a)(c)</sup>  | 2167 | 2255 |
| Hertz Vehicle Financing III, LLC, Series 2023-4, Class C, 7.51% 3/25/2030 <sup>(a)(c)</sup>  | 3950 | 4167 |
| Hertz Vehicle Financing, LLC, Series 2021-2, Class D, 4.34% 12/27/2027 <sup>(a)(c)</sup>  | 5000 | 4930 |
| Hertz Vehicle Financing, LLC, Series 2025-1A, Class C, 6.03% 9/25/2029 <sup>(a)(c)</sup>  | 4947 | 5032 |
| Hertz Vehicle Financing, LLC, Series 2025-1A, Class D, 7.98% 9/25/2029 <sup>(a)(c)</sup>  | 2121 | 2152 |
| Hertz Vehicle Financing, LLC, Series 2025-2A, Class C, 6.40% 9/25/2031 <sup>(a)(c)</sup>  | 5746 | 5881 |
| Hertz Vehicle Financing, LLC, Series 2025-2A, Class D, 8.34% 9/25/2031 <sup>(a)(c)</sup>  | 1966 | 1989 |
| LAD Auto Receivables Trust, Series 2023-1, Class C, 6.18% 12/15/2027 <sup>(a)(c)</sup>  | 1368 | 1372 |
| LAD Auto Receivables Trust, Series 2024-3A, Class D, 5.18% 2/17/2032 <sup>(a)(c)</sup>  | 537 | 543 |
| Prestige Auto Receivables Trust, Series 2023-1, Class D, 6.33% 4/16/2029 <sup>(a)(c)</sup>  | 1912 | 1910 |
| Prestige Auto Receivables Trust, Series 2024-1, Class E, 7.94% 4/15/2031 <sup>(a)(c)</sup>  | 1196 | 1119 |
| Research-Driven Pagaya Motor Asset Trust I, Series 2022-3, Class B, 6.58% 11/25/2030 <sup>(a)(c)</sup>  | 294 | 294 |
| Research-Driven Pagaya Motor Asset Trust I, Series 2025-4A, Class B, 5.497% 4/25/2034 <sup>(a)(c)</sup>  | 8785 | 8871 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **40** |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| **Auto loan (continued)** |  |  |
| Santander Drive Auto Receivables Trust, Series 2022-7, Class C, 6.69% 3/17/2031 <sup>(a)</sup>  | USD<br> 796<br>| $812 |
| Santander Drive Auto Receivables Trust, Series 2025-4, Class D, 4.95% 1/15/2032 <sup>(a)</sup>  | 5526 | 5553 |
| Truist Bank Auto Credit-Linked Notes, Series 2025-1, Class B, 4.728% 9/26/2033 <sup>(a)(c)</sup>  | 5182 | 5193 |
| United Auto Credit Securitization Trust, Series 2024-1, Class D, 8.30% 11/12/2029 <sup>(a)(c)</sup>  | 6000 | 6116 |
| Westlake Automobile Receivables Trust, Series 2022-2A, Class D, 5.48% 9/15/2027 <sup>(a)(c)</sup>  | 1109 | 1112 |
| Westlake Automobile Receivables Trust, Series 2025-1A, Class D, 5.54% 11/15/2030 <sup>(a)(c)</sup>  | 3798 | 3859 |
|  |  | 148224 |
| **Credit card 0.99%** |  |  |
| Avant Credit Card Master Trust, Series 2024-2A, Class B, 5.73% 5/15/2029 <sup>(a)(c)</sup>  | 11000 | 11040 |
| Avant Credit Card Master Trust, Series 2024-2A, Class C, 6.41% 5/15/2029 <sup>(a)(c)</sup>  | 5000 | 5033 |
| Evergreen Credit Card Trust, Series 2025-CRT5, Class C, 5.53% 5/15/2029 <sup>(a)(c)</sup>  | 765 | 774 |
| Mission Lane Credit Card Master Trust, Series 2024-A, Class A1, 6.20% 8/15/2029 <sup>(a)(c)</sup>  | 2021 | 2034 |
| Mission Lane Credit Card Master Trust, Series 2024-A, Class B, 6.58% 8/15/2029 <sup>(a)(c)</sup>  | 1996 | 2007 |
| Mission Lane Credit Card Master Trust, Series 2025-A, Class D, 8.89% 5/15/2030 <sup>(a)(c)</sup>  | 7000 | 7037 |
| Mission Lane Credit Card Master Trust, Series 2025-C, Class A, 4.78% 12/16/2030 <sup>(a)(c)</sup>  | 3176 | 3193 |
| Mission Lane Credit Card Master Trust, Series 2025-C, Class C, 5.37% 12/16/2030 <sup>(a)(c)</sup>  | 2701 | 2711 |
| Mission Lane Credit Card Master Trust, Series 2025-C, Class D, 5.71% 12/16/2030 <sup>(a)(c)</sup>  | 2418 | 2419 |
| Mission Lane Credit Card Master Trust, Series 2025-C, Class F, 10.55% 12/16/2030 <sup>(a)(c)</sup>  | 4000 | 4001 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class A, 5.06% 9/15/2031 <sup>(a)(c)</sup>  | 10363 | 10442 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class B, 5.21% 9/15/2031 <sup>(a)(c)</sup>  | 1658 | 1671 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class C, 5.41% 9/15/2031 <sup>(a)(c)</sup>  | 996 | 1001 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class D, 5.80% 9/15/2031 <sup>(a)(c)</sup>  | 953 | 954 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class F, 11.21% 9/15/2031 <sup>(a)(c)</sup>  | 9789 | 9898 |
|  |  | 64215 |
| **Student loan 0.96%** |  |  |
| Navient Education Loan Trust, Series 2025-A, Class A, 5.02% 7/15/2055 <sup>(a)(c)</sup>  | 4723 | 4780 |
| Navient Education Loan Trust, Series 2025-A, Class B, 5.32% 7/15/2055 <sup>(a)(c)</sup>  | 4506 | 4557 |
| Nelnet Student Loan Trust, Series 2025-AA, Class A1A, 5.07% 3/15/2057 <sup>(a)(c)</sup>  | 17528 | 17716 |
| SMB Private Education Loan Trust, Series 2021-A, Class D1, 3.86% 1/15/2053 <sup>(a)(c)</sup>  | 1331 | 1214 |
| SMB Private Education Loan Trust, Series 2021-A, Class D2, 3.86% 1/15/2053 <sup>(a)(c)</sup>  | 678 | 618 |
| SMB Private Education Loan Trust, Series 2023-A, Class B, 5.88% 1/15/2053 <sup>(a)(c)</sup>  | 2490 | 2551 |
| SMB Private Education Loan Trust, Series 2025-A, Class A1A, 5.13% 4/15/2054 <sup>(a)(c)</sup>  | 14080 | 14304 |
| SMB Private Education Loan Trust, Series 2022-A, Class D, 4.75% 11/16/2054 <sup>(a)(c)</sup>  | 82 | 79 |
| SMB Private Education Loan Trust, Series 2024-A, Class D, 8.22% 3/15/2056 <sup>(a)(c)</sup>  | 8883 | 9595 |
| SMB Private Education Loan Trust, Series 2023-B, Class D, 7.56% 10/16/2056 <sup>(a)(c)</sup>  | 5000 | 5205 |
| SMB Private Education Loan Trust, Series 2022-D, Class D, 7.23% 10/15/2058 <sup>(a)(c)</sup>  | 1790 | 1837 |
|  |  | 62456 |
| **Total asset-backed obligations** |  | 471221 |
| **Bonds & notes of governments & government agencies outside the U.S. 1.53%** | **Bonds & notes of governments & government agencies outside the U.S. 1.53%** | **Bonds & notes of governments & government agencies outside the U.S. 1.53%** |
| **Panama 0.12%** |  |  |
| Panama (Republic of) 2.252% 9/29/2032  | 1800 | 1491 |
| Panama (Republic of) 4.50% 4/1/2056  | 6130 | 4616 |
| Panama (Republic of) 4.50% 4/16/2050  | 1200 | 930 |
| Panama (Republic of) 7.50% 3/1/2031  | 315 | 350 |
| Panama (Republic of) 7.875% 3/1/2057  | 260 | 304 |
|  |  | 7691 |
| **Egypt 0.29%** |  |  |
| Egypt (Arab Republic of) 8.50% 1/31/2047  | 5663 | 5572 |
| Egypt (Arab Republic of) 8.70% 3/1/2049  | 1700 | 1706 |
| Egypt (Arab Republic of) 7.50% 2/16/2061  | 10330 | 9018 |
| Egypt (Arab Republic of) 8.15% 11/20/2059  | 600 | 565 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **41** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Bonds & notes of governments & government agencies outside the U.S. (continued)** | **Bonds & notes of governments & government agencies outside the U.S. (continued)** | **Bonds & notes of governments & government agencies outside the U.S. (continued)** |
| **Egypt (continued)** |  |  |
| Egypt (Arab Republic of) 8.75% 9/30/2051  | USD<br> 1,050<br>| $1054 |
| Egypt (Arab Republic of) 5.875% 2/16/2031  | 600 | 602 |
| Egypt (Arab Republic of) 5.80% 9/30/2027  | 200 | 203 |
|  |  | 18720 |
| **Dominican Republic 0.03%** |  |  |
| Dominican Republic (Government of) 5.875% 1/30/2060  | 2280 | 2038 |
| **Honduras 0.03%** |  |  |
| Honduras (Republic of) 5.625% 6/24/2030  | 2070 | 2058 |
| **Nigeria 0.04%** |  |  |
| Nigeria (Republic of) 7.875% 2/16/2032  | 2350 | 2461 |
| **Turkey 0.05%** |  |  |
| Turkey (Republic of), Series 10Y, 5.875% 6/26/2031  | 480 | 482 |
| Turkey (Republic of), Series 12Y, 6.50% 9/20/2033  | 2700 | 2758 |
|  |  | 3240 |
| **Senegal 0.10%** |  |  |
| Senegal (Republic of) 6.75% 3/13/2048  | 8800 | 4771 |
| Senegal (Republic of) 6.75% 3/13/2048  | 3439 | 1864 |
|  |  | 6635 |
| **Chile 0.01%** |  |  |
| Chile (Republic of) 2.45% 1/31/2031  | 400 | 367 |
| Chile (Republic of) 4.34% 3/7/2042  | 200 | 178 |
|  |  | 545 |
| **United Arab Emirates 0.00%** |  |  |
| Abu Dhabi (Emirate of) 1.70% 3/2/2031 <sup>(c)</sup>  | 300 | 267 |
| **India 0.00%** |  |  |
| Export-Import Bank of India 2.25% 1/13/2031 <sup>(c)</sup>  | 250 | 226 |
| **Mexico 0.48%** |  |  |
| United Mexican States 4.75% 4/27/2032  | 860 | 839 |
| United Mexican States 6.00% 5/7/2036  | 5510 | 5597 |
| United Mexican States 6.875% 5/13/2037  | 4140 | 4428 |
| United Mexican States 5.85% 7/2/2032  | 445 | 458 |
| United Mexican States 6.625% 1/29/2038  | 2165 | 2264 |
| Eagle Funding LuxCo SARL 5.50% 8/17/2030 <sup>(c)</sup>  | 17336 | 17680 |
|  |  | 31266 |
| **South Africa 0.04%** |  |  |
| South Africa (Republic of) 5.875% 4/20/2032  | 1003 | 1035 |
| South Africa (Republic of) 7.10% 11/19/2036 <sup>(c)</sup>  | 1150 | 1237 |
|  |  | 2272 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **42** |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Bonds & notes of governments & government agencies outside the U.S. (continued)** | **Bonds & notes of governments & government agencies outside the U.S. (continued)** | **Bonds & notes of governments & government agencies outside the U.S. (continued)** |
| **Colombia 0.27%** |  |  |
| Colombia (Republic of) 8.00% 4/20/2033  | USD<br> 430<br>| $463 |
| Colombia (Republic of) 7.50% 2/2/2034  | 4710 | 4922 |
| Colombia (Republic of) 8.00% 11/14/2035  | 3185 | 3402 |
| Colombia (Republic of) 7.75% 11/7/2036  | 8044 | 8399 |
|  |  | 17186 |
| **Peru 0.07%** |  |  |
| Peru (Republic of) 5.875% 8/8/2054  | 1275 | 1266 |
| Peru (Republic of) 5.50% 3/30/2036  | 3310 | 3380 |
|  |  | 4646 |
| **Total bonds & notes of governments & government agencies outside the U.S.** |  | 99251 |
| **Loans 0.27%** | **Loans 0.27%** | **Loans 0.27%** |
| **Information technology 0.10%** |  |  |
| Commscope, LLC, Term Loan, (3-month USD CME Term SOFR + 4.75%) 8.466% 12/17/2029 <sup>(d)(m)</sup>  | 950 | 953 |
| Finastra USA, Inc., Term Loan B, (3-month USD CME Term SOFR + 7.25%) 10.973% 9/13/2029 <sup>(d)(j)(m)</sup>  | 75 | 75 |
| Finastra USA, Inc., Term Loan, (1-month USD CME Term SOFR + 4.00%) 7.688% 7/30/2032 <sup>(d)(m)</sup>  | 260 | 255 |
| Viasat, Inc., Term Loan B, (1-month USD CME Term SOFR + 4.614%) 8.331% 3/2/2029 <sup>(d)(m)</sup>  | 2105 | 2102 |
| Viasat, Inc., Term Loan B, (3-month USD CME Term SOFR + 4.50%) 8.348% 5/30/2030 <sup>(d)(m)</sup>  | 3295 | 3288 |
|  |  | 6673 |
| **Communication services 0.07%** |  |  |
| Gray Television, Inc., Term Loan B, (3-month USD CME Term SOFR + 5.25%) 9.123% 6/4/2029 <sup>(d)(m)</sup>  | 14 | 14 |
| X Corp., Term Loan B, (USD-SOFR + 6.75%) 10.448% 10/26/2029 <sup>(d)(m)</sup>  | 4286 | 4218 |
|  |  | 4232 |
| **Health care 0.05%** |  |  |
| Endo Finance Holdings, Inc., Term Loan B, (3-month USD CME Term SOFR + 3.75%) 7.466% 4/23/2031 <sup>(d)(m)</sup>  | 1462 | 1453 |
| Owens & Minor, Inc., Term Loan B-1, (3-month USD CME Term SOFR + 3.85%) 7.566% 3/29/2029 <sup>(d)(m)</sup>  | 2025 | 1959 |
|  |  | 3412 |
| **Industrials 0.04%** |  |  |
| Peraton Corp., Term Loan B, (3-month USD CME Term SOFR + 3.85%) 7.69% 2/1/2028 <sup>(d)(m)</sup>  | 3077 | 2862 |
| **Municipals 0.01%** |  |  |
| AM Bidco Operations, LLC, Term Loan, 8.50% PIK 10/21/2027 <sup>(h)(i)(m)</sup>  | 634 | 634 |
| **Total loans** |  | 17813 |
| **Municipals 0.06%** | **Municipals 0.06%** | **Municipals 0.06%** |
| **California 0.02%** |  |  |
| City of Rancho Mirage, Community Facs. Dist. No. 5 (Improvement Area No. 1), Special Tax Bonds, Series <br> 2024-B, 7.25% 9/1/2039  | 1080 | 1101 |
| **Puerto Rico 0.04%** |  |  |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2017 <sup>(g)</sup>  | 5 | 3 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 4.25% 7/1/2018 <sup>(g)</sup>  | 20 | 13 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 5.00% 7/1/2018 <sup>(g)</sup>  | 95 | 63 |
| Electric Power Auth., Power Rev. Bonds, Series 2003-NN, 5.50% 7/1/2020 <sup>(g)</sup>  | 10 | 7 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2021 <sup>(g)</sup>  | 190 | 127 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-AAA, 5.25% 7/1/2021 <sup>(g)</sup>  | 265 | 177 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-DDD, 5.00% 7/1/2023 <sup>(g)</sup>  | 210 | 140 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2023 <sup>(g)</sup>  | 20 | 13 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-CCC, 5.00% 7/1/2024 <sup>(g)</sup>  | 75 | 50 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **43** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Plus Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Municipals (continued)** | **Municipals (continued)** | **Municipals (continued)** |
| **Puerto Rico (continued)** |  |  |
| Electric Power Auth., Power Rev. Bonds, Series 2010-XX, 4.625% 7/1/2025 <sup>(g)</sup>  | USD<br> 10<br>| $7 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-XX, 4.75% 7/1/2026 <sup>(g)</sup>  | 10 | 7 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 5.00% 7/1/2026 <sup>(g)</sup>  | 5 | 3 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-CCC, 5.25% 7/1/2026 <sup>(g)</sup>  | 20 | 13 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 5.25% 7/1/2026 <sup>(g)</sup>  | 400 | 268 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 4.75% 7/1/2027 <sup>(g)</sup>  | 65 | 44 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-CCC, 4.80% 7/1/2028 <sup>(g)</sup>  | 220 | 147 |
| Electric Power Auth., Power Rev. Bonds, Series 2008-WW, 5.00% 7/1/2028 <sup>(g)</sup>  | 55 | 37 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2032 <sup>(g)</sup>  | 165 | 111 |
| Electric Power Auth., Power Rev. Bonds, Series 2008-WW, 5.25% 7/1/2033 <sup>(g)</sup>  | 610 | 409 |
| Electric Power Auth., Power Rev. Bonds, Series 2013-A, 6.75% 7/1/2036 <sup>(g)</sup>  | 330 | 221 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2037 <sup>(g)</sup>  | 65 | 44 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-XX, 5.25% 7/1/2040 <sup>(g)</sup>  | 355 | 238 |
| Electric Power Auth., Power Rev. Bonds, Series 2012-A, 5.00% 7/1/2042 <sup>(g)</sup>  | 100 | 67 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2007-UU, AGI, 3.469% 7/1/2017 <sup>(f)(g)</sup>  | 465 | 310 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2010-DDD, 5.00% 7/1/2021 <sup>(g)</sup>  | 70 | 47 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2010-DDD, 5.00% 7/1/2022 <sup>(g)</sup>  | 650 | 434 |
|  |  | 3000 |
| **Texas 0.00%** |  |  |
| Brazoria County Industrial Dev. Corp., Solid Waste Disposal Facs. Rev. Bonds (Aleon Renewable Metals, LLC <br> Project), Series 2023, AMT, 12.00% 6/1/2043 <sup>(c)(g)</sup>  | 863 | 86 |
| **Total municipals** |  | 4187 |
| **Total bonds, notes & other debt instruments** (cost: $6,313,796,000) |  | 6364084 |
| Common stocks 0.00% | Shares |  |
| **Energy 0.00%** |  |  |
| New Fortress Energy, Inc., Class A <sup>(n)</sup>  | 89859 | 102 |
| **Industrials 0.00%** |  |  |
| AM BidCo Holdings, LLC <sup>(h)(n)</sup>  | 35 | — <br><sup>(b)</sup><br>|
| **Total common stocks** (cost: $1,115,000) |  | 102 |
| Short-term securities 5.14% |  |  |
| **Money market investments 5.14%** | **Money market investments 5.14%** | **Money market investments 5.14%** |
| Capital Group Central Cash Fund 3.79% <sup>(o)(p)</sup>  | 3339593 | 333993 |
| **Total short-term securities** (cost: $333,895,000) |  | 333993 |
| **Total investment securities 103.03%** (cost: $6,648,806,000) |  | 6698179 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Other assets less liabilities (3.03)% | (196807)<br>|
| **Net assets 100.00%** | $6501372 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **44** |

---

------

Capital Group Core Plus Income ETF (continued)

**Futures contracts**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 2 Year U.S. Treasury Note Futures | Long | 11460 | 3/31/2026 | USD2,392,723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(665)<br>|
| 5 Year U.S. Treasury Note Futures | Long | 3628 | 3/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 396557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1027)<br>|
| 10 Year U.S. Treasury Note Futures | Long | 579 | 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (416)<br>|
| 10 Year Ultra U.S. Treasury Note Futures | Short | 5483 | 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (630631)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1906 |
| 30 Year U.S. Treasury Bond Futures | Long | 1505 | 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2345)<br>|
| 30 Year Ultra U.S. Treasury Bond Futures | Long | 295 | 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (547)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(3094)<br>|

---

**Forward currency contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contract amount | Contract amount | Contract amount | Contract amount | Counterparty | &nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Currency purchased <br>(000) | Currency purchased <br>(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | Counterparty | &nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| USD | 10099 | EUR | 8570 | Citibank | 1/27/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $17 |

---

**Swap contracts**

------

**Interest rate swaps**

**Centrally cleared interest rate swaps** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | &nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Value at <br>12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Value at <br>12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| 3.863% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 10/29/2026 | USD250,000 | &nbsp;&nbsp;&nbsp;&nbsp; $723 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $723 |
| 3.787% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 6/12/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 152000 | &nbsp;&nbsp;&nbsp;&nbsp; 908 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 908 |
| 3.7315% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 6/20/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 156000 | &nbsp;&nbsp;&nbsp;&nbsp; 825 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 825 |
| SOFR | Annual | 3.3885% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/18/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; (52)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (52)<br>|
| 4.175% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 11/21/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 3223 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3223 |
| 3.7675% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 12/3/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 31000 | &nbsp;&nbsp;&nbsp;&nbsp; 427 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 427 |
| 3.439% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 6/17/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 176250 | &nbsp;&nbsp;&nbsp;&nbsp; (295)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (295)<br>|
| 3.4357% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 6/17/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 205222 | &nbsp;&nbsp;&nbsp;&nbsp; (535)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (535)<br>|
| SOFR | Annual | 3.1585% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/18/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 43000 | &nbsp;&nbsp;&nbsp;&nbsp; 1188 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1188 |
| SOFR | Annual | 3.2205% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 4/18/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 58000 | &nbsp;&nbsp;&nbsp;&nbsp; 1488 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1488 |
| SOFR | Annual | 3.7917% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 6/17/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 225282 | &nbsp;&nbsp;&nbsp;&nbsp; 530 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 530 |
| SOFR | Annual | 3.803% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 6/17/2036 | &nbsp;&nbsp;&nbsp;&nbsp; 195000 | &nbsp;&nbsp;&nbsp;&nbsp; 442 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 442 |
| 4.133% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 11/20/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 16000 | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8 |
| 3.7575% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 12/3/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 12000 | &nbsp;&nbsp;&nbsp;&nbsp; (625)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (625)<br>|
| 4.1386% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 6/17/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 54821 | &nbsp;&nbsp;&nbsp;&nbsp; (166)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (166)<br>|
| 4.146% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 6/17/2056 | &nbsp;&nbsp;&nbsp;&nbsp; 47500 | &nbsp;&nbsp;&nbsp;&nbsp; (200)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (200)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $7889 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $7889 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **45** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Core Plus Income ETF (continued)

**Investments in affiliates** <sup>(p)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>12/31/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 5.14%** | **Short-term securities 5.14%** | **Short-term securities 5.14%** | **Short-term securities 5.14%** | **Short-term securities 5.14%** | **Short-term securities 5.14%** | **Short-term securities 5.14%** | **Short-term securities 5.14%** |
| **Money market investments 5.14%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 3.79% <sup>(o)</sup> | $295735 | &nbsp;&nbsp; $2333140 | &nbsp;&nbsp; $2294892 | &nbsp;&nbsp; $(40)<br>| &nbsp;&nbsp; $50 | &nbsp;&nbsp; $333993 | &nbsp;&nbsp; $22381 |

---

**Restricted securities** <sup>(j)</sup>

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| Wolfspeed, Inc. 4.00% PIK and 9.875% Cash 6/23/2030  | 6/23/2023 | $1172 | $1320 | 0.02<br> %<br>|
| Stillwater Mining Co. 4.00% 11/16/2026  | 2/9/2024 | 580 | 596 | 0.01 |
| Finastra USA, Inc., Term Loan B, (3-month USD CME Term SOFR + 7.25%) <br> 10.973% 9/13/2029 <sup>(d)</sup> <br>| 9/12/2023 | 74 | 75 | 0.01 |
|  |  | $1826 | $1991 | 0.04<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>(b)</sup> Amount less than one thousand.

<sup>(c)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) 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 $1,877,364,000, which represented 28.88% of the net assets of the fund. 

<sup>(d)</sup> 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. 

<sup>(e)</sup> Purchased on a TBA basis.

<sup>(f)</sup> Step bond; coupon rate may change at a later date.

<sup>(g)</sup> Scheduled interest and/or principal payment was not received.

<sup>(h)</sup> Value determined using significant unobservable inputs.

<sup>(i)</sup> Payment in kind; the issuer has the option of paying additional securities in lieu of cash. Payment methods and rates are as of the most recent payment when available. 

<sup>(j)</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933.

<sup>(k)</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $24,807,000, which represented 0.38% of the net assets of the fund. 

<sup>(l)</sup> Index-linked bond whose principal amount moves with a government price index. 

<sup>(m)</sup> Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $17,813,000, which represented 0.27% of the net assets of the fund. 

<sup>(n)</sup> Non-income producing.

<sup>(o)</sup> Rate represents the seven-day yield at 12/31/2025.

<sup>(p)</sup> Affiliate of the fund or part of the same "group of investment companies" as the fund, as defined under the Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| AGI = Assured Guaranty insured |
| AMT = Alternative Minimum Tax |
| Assn. = Association |
| Auth. = Authority |
| CME = CME Group |
| DAC = Designated Activity Company |
| Dev. = Development |
| Dist. = District |
| EUR = Euros |

---

---

| |
|:---|
| EURIBOR = Euro Interbank Offered Rate |
| Facs. = Facilities |
| ICE = Intercontinental Exchange, Inc. |
| Ref. = Refunding |
| Rev. = Revenue |
| SOFR = Secured Overnight Financing Rate |
| TBA = To be announced |
| USD = U.S. dollars |
| UST = U.S. Treasury |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **46** |

---

------

Capital Group High Yield Bond ETF

**Investment portfolio** December 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments 87.36% | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes 85.77%** | **Corporate bonds and notes 85.77%** | **Corporate bonds and notes 85.77%** |
| **Energy 13.45%** |  |  |
| Ascent Resources Utica Holdings, LLC 6.625% 7/15/2033 <sup>(a)</sup>  | USD<br> 338<br>| $350 |
| BIP-V Chinook Holdco, LLC 5.50% 6/15/2031 <sup>(a)</sup>  | 750 | 743 |
| Civitas Resources, Inc. 9.625% 6/15/2033 <sup>(a)</sup>  | 634 | 685 |
| Crescent Energy Finance, LLC 7.375% 1/15/2033 <sup>(a)</sup>  | 375 | 356 |
| Global Partners, LP 7.125% 7/1/2033 <sup>(a)</sup>  | 312 | 319 |
| NFE Financing, LLC 12.00% 11/15/2029 <sup>(a)(b)</sup>  | 349 | 101 |
| Northern Oil and Gas, Inc. 7.875% 10/15/2033 <sup>(a)</sup>  | 60 | 59 |
| Occidental Petroleum Corp. 6.60% 3/15/2046  | 175 | 182 |
| Occidental Petroleum Corp. 6.05% 10/1/2054  | 115 | 110 |
| Petrobras Global Finance BV 5.125% 9/10/2030  | 350 | 343 |
| Petroleos Mexicanos 5.95% 1/28/2031  | 435 | 421 |
| Sunoco, LP 4.50% 5/15/2029  | 870 | 855 |
| Sunoco, LP 5.625% 3/15/2031 <sup>(a)</sup>  | 45 | 45 |
| Sunoco, LP 5.875% 3/15/2034 <sup>(a)</sup>  | 45 | 45 |
| Sunoco, LP 7.875% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T Note Constant <br> Maturity + 4.23% on 9/18/2030) <sup>(a)(c)</sup>  | 120 | 123 |
| Talos Production, Inc. 9.00% 2/1/2029 <sup>(a)</sup>  | 305 | 318 |
| Transocean International, Ltd. 7.875% 10/15/2032 <sup>(a)</sup>  | 20 | 21 |
| Transocean, Inc. 8.50% 5/15/2031 <sup>(a)</sup>  | 140 | 139 |
| Venture Global LNG, Inc. 9.875% 2/1/2032 <sup>(a)</sup>  | 650 | 672 |
| Venture Global Plaquemines LNG, LLC 6.125% 12/15/2030 <sup>(a)</sup>  | 75 | 76 |
| Venture Global Plaquemines LNG, LLC 6.50% 1/15/2034 <sup>(a)</sup>  | 364 | 373 |
| Venture Global Plaquemines LNG, LLC 6.875% 1/31/2036 <sup>(a)</sup>  | 217 | 222 |
| Weatherford International, Ltd. 8.625% 4/30/2030 <sup>(a)</sup>  | 253 | 260 |
| Weatherford International, Ltd. 6.75% 10/15/2033 <sup>(a)</sup>  | 325 | 333 |
|  |  | 7151 |
| **Communication services 13.43%** |  |  |
| Altice France 6.50% 3/15/2032 <sup>(a)</sup>  | 255 | 245 |
| CCO Holdings, LLC 5.125% 5/1/2027 <sup>(a)</sup>  | 100 | 100 |
| CCO Holdings, LLC 4.25% 2/1/2031 <sup>(a)</sup>  | 587 | 540 |
| CCO Holdings, LLC 4.75% 2/1/2032 <sup>(a)</sup>  | 550 | 503 |
| CCO Holdings, LLC 4.25% 1/15/2034 <sup>(a)</sup>  | 489 | 416 |
| Clear Channel Outdoor Holdings, Inc. 7.75% 4/15/2028 <sup>(a)</sup>  | 146 | 146 |
| Clear Channel Outdoor Holdings, Inc. 7.125% 2/15/2031 <sup>(a)</sup>  | 181 | 190 |
| Connect Finco SARL 9.00% 9/15/2029 <sup>(a)</sup>  | 343 | 364 |
| DIRECTV Financing, LLC 5.875% 8/15/2027 <sup>(a)</sup>  | 373 | 375 |
| DIRECTV Financing, LLC 8.875% 2/1/2030 <sup>(a)</sup>  | 150 | 152 |
| Discovery Communications, LLC 4.125% 5/15/2029  | 75 | 73 |
| DISH Network Corp. 11.75% 11/15/2027 <sup>(a)</sup>  | 104 | 108 |
| EchoStar Corp. 10.75% 11/30/2029  | 308 | 341 |
| EchoStar Corp. 6.75% Cash 11/30/2030 <sup>(d)</sup>  | 165 | 169 |
| Gray Media, Inc. 10.50% 7/15/2029 <sup>(a)</sup>  | 301 | 324 |
| Gray Media, Inc. 9.625% 7/15/2032 <sup>(a)</sup>  | 45 | 47 |
| Lindblad Expeditions, LLC 7.00% 9/15/2030 <sup>(a)</sup>  | 65 | 68 |
| Nexstar Media, Inc. 4.75% 11/1/2028 <sup>(a)</sup>  | 369 | 366 |
| Sirius XM Radio, LLC 4.00% 7/15/2028 <sup>(a)</sup>  | 421 | 412 |
| Sirius XM Radio, LLC 4.125% 7/1/2030 <sup>(a)</sup>  | 244 | 232 |
| Sirius XM Radio, LLC 3.875% 9/1/2031 <sup>(a)</sup>  | 426 | 393 |
| Univision Communications, Inc. 4.50% 5/1/2029 <sup>(a)</sup>  | 615 | 591 |
| Univision Communications, Inc. 9.375% 8/1/2032 <sup>(a)</sup>  | 78 | 84 |
| Versant Media Group, Inc. 7.25% 1/30/2031 <sup>(a)</sup>  | 145 | 150 |
| WarnerMedia Holdings, Inc. 3.755% 3/15/2027  | 104 | 103 |
| WarnerMedia Holdings, Inc. 4.054% 3/15/2029  | 50 | 49 |
| WarnerMedia Holdings, Inc. 4.279% 3/15/2032  | 350 | 308 |
| WarnerMedia Holdings, Inc. 5.05% 3/15/2042  | 39 | 28 |
| WarnerMedia Holdings, Inc. 5.141% 3/15/2052  | 405 | 268 |
|  |  | 7145 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **47** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group High Yield Bond ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Consumer discretionary 12.33%** |  |  |
| Acushnet Co. 5.625% 12/1/2033 <sup>(a)</sup>  | USD<br> 25<br>| $25 |
| Advance Auto Parts, Inc. 3.50% 3/15/2032  | 122 | 104 |
| Beach Acquisition Bidco, LLC 10.75% PIK or 10.00% Cash 7/15/2033 <sup>(a)(d)</sup>  | 200 | 221 |
| Caesars Entertainment, Inc. 7.00% 2/15/2030 <sup>(a)</sup>  | 755 | 782 |
| Carnival Corp. 5.125% 5/1/2029 <sup>(a)</sup>  | 40 | 41 |
| Flutter Treasury DAC 5.875% 6/4/2031 <sup>(a)</sup>  | 458 | 465 |
| Flutter Treasury DAC 6.125% 6/4/2031  | GBP<br> 100<br>| 136 |
| Ford Motor Credit Co., LLC 5.73% 9/5/2030  | USD<br> 200<br>| 203 |
| Ford Motor Credit Co., LLC 6.532% 3/19/2032  | 260 | 272 |
| Ford Motor Credit Co., LLC 6.125% 3/8/2034  | 200 | 203 |
| Genting New York, LLC 7.25% 10/1/2029 <sup>(a)</sup>  | 650 | 667 |
| Great Canadian Gaming Corp. 8.75% 11/15/2029 <sup>(a)</sup>  | 270 | 273 |
| LCM Investments Holdings II, LLC 4.875% 5/1/2029 <sup>(a)</sup>  | 380 | 375 |
| Levi Strauss & Co. 3.50% 3/1/2031 <sup>(a)</sup>  | 725 | 678 |
| Lithia Motors, Inc. 3.875% 6/1/2029 <sup>(a)</sup>  | 743 | 719 |
| Nissan Motor Acceptance Corp. 2.45% 9/15/2028 <sup>(a)</sup>  | 450 | 418 |
| Nissan Motor Co., Ltd. 7.75% 7/17/2032 <sup>(a)</sup>  | 243 | 258 |
| Nissan Motor Co., Ltd. 8.125% 7/17/2035 <sup>(a)</sup>  | 243 | 258 |
| Scientific Games Holdings, LP 6.625% 3/1/2030 <sup>(a)</sup>  | 86 | 77 |
| Universal Entertainment Corp. 9.875% 8/1/2029 <sup>(a)</sup>  | 250 | 246 |
| Vail Resorts, Inc. 5.625% 7/15/2030 <sup>(a)</sup>  | 134 | 137 |
|  |  | 6558 |
| **Financials 11.22%** |  |  |
| AmWINS Group, Inc. 4.875% 6/30/2029 <sup>(a)</sup>  | 322 | 317 |
| Asurion, LLC 8.00% 12/31/2032 <sup>(a)</sup>  | 225 | 234 |
| Block, Inc. 5.625% 8/15/2030 <sup>(a)</sup>  | 85 | 87 |
| Block, Inc. 3.50% 6/1/2031  | 530 | 499 |
| Block, Inc. 6.50% 5/15/2032  | 292 | 304 |
| Brown & Brown, Inc. 5.55% 6/23/2035  | 362 | 371 |
| Cipher Compute, LLC 7.125% 11/15/2030 <sup>(a)</sup>  | 145 | 148 |
| Coinbase Global, Inc. 3.375% 10/1/2028 <sup>(a)</sup>  | 393 | 375 |
| Compass Group Diversified Holdings, LLC 5.25% 4/15/2029 <sup>(a)</sup>  | 206 | 191 |
| FS KKR Capital Corp. 6.125% 1/15/2031  | 150 | 146 |
| ION Platform Finance US, Inc. 8.75% 5/1/2029 <sup>(a)</sup>  | 297 | 301 |
| ION Platform Finance US, Inc. 9.50% 5/30/2029 <sup>(a)</sup>  | 285 | 289 |
| ION Platform Finance US, Inc. 7.875% 9/30/2032 <sup>(a)</sup>  | 200 | 190 |
| Jane Street Group, LLC 6.75% 5/1/2033 <sup>(a)</sup>  | 125 | 131 |
| Navient Corp. 7.875% 6/15/2032  | 805 | 843 |
| OneMain Finance Corp. 7.125% 9/15/2032  | 945 | 983 |
| Osaic Holdings, Inc. 6.75% 8/1/2032 <sup>(a)</sup>  | 31 | 32 |
| Osaic Holdings, Inc. 8.00% 8/1/2033 <sup>(a)</sup>  | 23 | 24 |
| Starwood Property Trust, Inc. 5.25% 10/15/2028 <sup>(a)</sup>  | 250 | 253 |
| Voyager Parent, LLC 9.25% 7/1/2032 <sup>(a)</sup>  | 234 | 248 |
|  |  | 5966 |
| **Health care 9.13%** |  |  |
| 1261229 B.C., Ltd. 10.00% 4/15/2032 <sup>(a)</sup>  | 400 | 416 |
| Bausch Health Americas, Inc. 8.50% 1/31/2027 <sup>(a)</sup>  | 223 | 221 |
| Bausch Health Cos., Inc. 4.875% 6/1/2028 <sup>(a)</sup>  | 175 | 157 |
| DaVita, Inc. 6.75% 7/15/2033 <sup>(a)</sup>  | 860 | 892 |
| Endo Finance Holdings, Inc. 8.50% 4/15/2031 <sup>(a)</sup>  | 281 | 297 |
| IQVIA, Inc. 6.25% 6/1/2032 <sup>(a)</sup>  | 725 | 759 |
| Medline Borrower, LP 6.25% 4/1/2029 <sup>(a)</sup>  | 895 | 926 |
| Owens & Minor, Inc. 4.50% 3/31/2029 <sup>(a)</sup>  | 335 | 228 |
| Radiology Partners, Inc. 9.781% PIK 2/15/2030 <sup>(a)(d)</sup>  | 142 | 137 |
| Radiology Partners, Inc. 8.50% 7/15/2032 <sup>(a)</sup>  | 140 | 146 |
| Teva Pharmaceutical Finance Netherlands IV BV 5.75% 12/1/2030  | 650 | 675 |
|  |  | 4854 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **48** |

---

------

Capital Group High Yield Bond ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Industrials 6.72%** |  |  |
| Avis Budget Car Rental, LLC 8.25% 1/15/2030 <sup>(a)</sup>  | USD<br> 394<br>| $409 |
| Axon Enterprise, Inc. 6.25% 3/15/2033 <sup>(a)</sup>  | 690 | 721 |
| Carpenter Technology Corp. 5.625% 3/1/2034 <sup>(a)</sup>  | 145 | 147 |
| EquipmentShare.com, Inc. 9.00% 5/15/2028 <sup>(a)</sup>  | 383 | 398 |
| Science Applications International Corp. 5.875% 11/1/2033 <sup>(a)</sup>  | 45 | 46 |
| Standard Building Solutions, Inc. 6.25% 8/1/2033 <sup>(a)</sup>  | 222 | 227 |
| TransDigm, Inc. 6.375% 5/31/2033 <sup>(a)</sup>  | 395 | 406 |
| TransDigm, Inc. 6.25% 1/31/2034 <sup>(a)</sup>  | 245 | 254 |
| TransDigm, Inc. 6.75% 1/31/2034 <sup>(a)</sup>  | 150 | 156 |
| WESCO Distribution, Inc. 6.625% 3/15/2032 <sup>(a)</sup>  | 775 | 810 |
|  |  | 3574 |
| **Materials 6.41%** |  |  |
| AmeriTex HoldCo Intermediate, LLC, 7.625% 8/15/2033 <sup>(a)</sup>  | 146 | 154 |
| Celanese US Holdings, LLC 7.00% 2/15/2031  | 60 | 62 |
| Century Aluminum Co. 6.875% 8/1/2032 <sup>(a)</sup>  | 130 | 134 |
| Cleveland-Cliffs, Inc. 6.875% 11/1/2029 <sup>(a)</sup>  | 635 | 658 |
| Cleveland-Cliffs, Inc. 7.625% 1/15/2034 <sup>(a)</sup>  | 85 | 89 |
| First Quantum Minerals, Ltd. 9.375% 3/1/2029 <sup>(a)</sup>  | 255 | 269 |
| JH North America Holdings, Inc. 5.875% 1/31/2031 <sup>(a)</sup>  | 655 | 669 |
| Mineral Resources, Ltd. 8.00% 11/1/2027 <sup>(a)</sup>  | 222 | 227 |
| Mineral Resources, Ltd. 9.25% 10/1/2028 <sup>(a)</sup>  | 177 | 186 |
| NOVA Chemicals Corp. 7.00% 12/1/2031 <sup>(a)</sup>  | 545 | 582 |
| SCIH Salt Holdings, Inc. 6.625% 5/1/2029 <sup>(a)</sup>  | 70 | 70 |
| Solstice Advanced Materials, Inc. 5.625% 9/30/2033 <sup>(a)</sup>  | 105 | 106 |
| Trivium Packaging Finance BV 8.25% 7/15/2030 <sup>(a)</sup>  | 187 | 201 |
|  |  | 3407 |
| **Information technology 5.24%** |  |  |
| ams-OSRAM AG 12.25% 3/30/2029 <sup>(a)</sup>  | 150 | 160 |
| Cloud Software Group, Inc. 6.50% 3/31/2029 <sup>(a)</sup>  | 145 | 147 |
| Cloud Software Group, Inc. 8.25% 6/30/2032 <sup>(a)</sup>  | 473 | 495 |
| CommScope, LLC 7.125% 7/1/2028 <sup>(a)</sup>  | 249 | 250 |
| Diebold Nixdorf, Inc. 7.75% 3/31/2030 <sup>(a)</sup>  | 219 | 234 |
| Fair Isaac Corp. 6.00% 5/15/2033 <sup>(a)</sup>  | 348 | 358 |
| Hughes Satellite Systems Corp. 5.25% 8/1/2026  | 75 | 72 |
| Hughes Satellite Systems Corp. 6.625% 8/1/2026  | 98 | 90 |
| Intel Corp. 3.05% 8/12/2051  | 45 | 28 |
| Intel Corp. 5.60% 2/21/2054  | 73 | 67 |
| UKG, Inc. 6.875% 2/1/2031 <sup>(a)</sup>  | 338 | 348 |
| Unisys Corp. 10.625% 1/15/2031 <sup>(a)</sup>  | 250 | 256 |
| Viasat, Inc. 7.50% 5/30/2031 <sup>(a)</sup>  | 78 | 74 |
| WULF Compute, LLC 7.75% 10/15/2030 <sup>(a)</sup>  | 200 | 206 |
|  |  | 2785 |
| **Real estate 3.88%** |  |  |
| Howard Hughes Corp. (The) 4.375% 2/1/2031 <sup>(a)</sup>  | 790 | 753 |
| Kennedy-Wilson, Inc. 4.75% 3/1/2029  | 186 | 181 |
| Kennedy-Wilson, Inc. 4.75% 2/1/2030  | 166 | 157 |
| MPT Operating Partnership, LP 8.50% 2/15/2032 <sup>(a)</sup>  | 301 | 322 |
| Service Properties Trust 8.00% 9/30/2027 <sup>(a)</sup>  | 85 | 77 |
| Service Properties Trust 3.95% 1/15/2028  | 104 | 98 |
| Service Properties Trust 8.625% 11/15/2031 <sup>(a)</sup>  | 312 | 328 |
| Service Properties Trust 8.875% 6/15/2032  | 150 | 148 |
|  |  | 2064 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **49** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group High Yield Bond ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Consumer staples 2.38%** |  |  |
| Albertsons Cos., Inc. 5.50% 3/31/2031 <sup>(a)</sup>  | USD<br> 170<br>| $172 |
| Albertsons Cos., Inc. 5.75% 3/31/2034 <sup>(a)</sup>  | 175 | 176 |
| Coty, Inc. 5.60% 1/15/2031 <sup>(a)</sup>  | 25 | 25 |
| Post Holdings, Inc. 6.25% 2/15/2032 <sup>(a)</sup>  | 870 | 895 |
|  |  | 1268 |
| **Utilities 1.58%** |  |  |
| PG&E Corp. 5.00% 7/1/2028  | 172 | 172 |
| Talen Energy Supply, LLC 8.625% 6/1/2030 <sup>(a)</sup>  | 630 | 667 |
|  |  | 839 |
| **Total corporate bonds and notes** |  | 45611 |
| **Loans 1.59%** | **Loans 1.59%** | **Loans 1.59%** |
| **Information technology 0.76%** |  |  |
| Finastra USA, Inc., Term Loan, (1-month USD CME Term SOFR + 4.00%) 7.688% 7/30/2032 <sup>(e)(f)</sup>  | 170 | 167 |
| Viasat, Inc., Term Loan B, (1-month USD CME Term SOFR + 4.614%) 8.331% 3/2/2029 <sup>(e)(f)</sup>  | 225 | 224 |
| Viasat, Inc., Term Loan B, (3-month USD CME Term SOFR + 4.50%) 8.348% 5/30/2030 <sup>(e)(f)</sup>  | 15 | 15 |
|  |  | 406 |
| **Communication services 0.45%** |  |  |
| Connect Finco SARL, Term Loan B, (1-month USD CME Term SOFR + 4.50%) 8.216% 9/27/2029 <sup>(e)(f)</sup>  | 135 | 135 |
| Versant Media Group, Inc., Term Loan B, (1-month USD CME Term SOFR + 3.50%) 7.537% 10/23/2030 <sup>(e)(f)</sup>  | 105 | 105 |
|  |  | 240 |
| **Consumer discretionary 0.28%** |  |  |
| Voyager Parent, LLC, Term Loan B, (3-month USD CME Term SOFR + 4.75%) 8.422% 7/1/2032 <sup>(e)(f)</sup>  | 150 | 150 |
| **Industrials 0.10%** |  |  |
| Peraton Corp., Term Loan B, (3-month USD CME Term SOFR + 3.85%) 7.69% 2/1/2028 <sup>(e)(f)</sup>  | 55 | 51 |
| **Total loans** |  | 847 |
| **Total bonds, notes & other debt instruments** (cost: $45,880,000) |  | 46458 |
| Convertible bonds & notes 3.09% |  |  |
| **Information technology 0.73%** |  |  |
| Macom Technology Solutions Holdings, convertible notes, 0.25% 3/15/2026  | 85 | 177 |
| Super Micro Computer, Inc., convertible notes, 0% 6/15/2030 <sup>(a)</sup>  | 111 | 94 |
| Terawulf, Inc., convertible notes, 1.00% 9/1/2031 <sup>(a)</sup>  | 98 | 116 |
|  |  | 387 |
| **Communication services 0.66%** |  |  |
| EchoStar Corp., convertible notes, 3.875% Cash 11/30/2030 <sup>(d)</sup>  | 72 | 239 |
| Spotify USA, Inc., convertible notes, 0% 3/15/2026  | 99 | 113 |
|  |  | 352 |
| **Real estate 0.57%** |  |  |
| Ventas Realty, LP, convertible notes, 3.75% 6/1/2026  | 104 | 147 |
| Welltower OP, LLC, convertible notes, 2.75% 5/15/2028 <sup>(a)</sup>  | 79 | 155 |
|  |  | 302 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **50** |

---

------

Capital Group High Yield Bond ETF (continued)

---

| | | |
|:---|:---|:---|
| Convertible bonds & notes (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Utilities 0.52%** |  |  |
| CenterPoint Energy, Inc., convertible notes, 3.00% 8/1/2028 <sup>(a)</sup>  | USD<br> 150<br>| $152 |
| Southern Co. (The), convertible notes, 4.50% 6/15/2027  | 114 | 122 |
|  |  | 274 |
| **Health care 0.25%** |  |  |
| Halozyme Therapeutics, Inc. convertible notes, 1.00% 8/15/2028  | 101 | 134 |
| **Financials 0.18%** |  |  |
| Coinbase Global, Inc., convertible notes, 0.25% 4/1/2030  | 95 | 97 |
| **Industrials 0.18%** |  |  |
| Axon Enterprise, Inc., convertible notes, 0.50% 12/15/2027  | 38 | 96 |
| **Total convertible bonds & notes** (cost: $1,575,000) |  | 1642 |
| Convertible stocks 0.26% | Shares |  |
| **Industrials 0.26%** |  |  |
| Boeing Co., Series A, convertible preferred depositary shares, 6.00% 10/15/2027  | 2000 | 138 |
| **Total convertible stocks** (cost: $132,000) |  | 138 |
| Common stocks 0.26% |  |  |
| **Consumer discretionary 0.26%** |  |  |
| Carnival Corp. <sup>(g)</sup>  | 4581 | 140 |
| **Total common stocks** (cost: $120,000) |  | 140 |
| Short-term securities 7.41% |  |  |
| **Money market investments 7.41%** | **Money market investments 7.41%** | **Money market investments 7.41%** |
| Capital Group Central Cash Fund 3.79% <sup>(h)(i)</sup>  | 39417 | 3942 |
| **Total short-term securities** (cost: $3,941,000) |  | 3942 |
| **Total investment securities 98.38%** (cost: $51,648,000) |  | 52320 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Other assets less liabilities 1.62% | 860 |
| **Net assets 100.00%** | $53180 |

---

**Futures contracts**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 2 Year U.S. Treasury Note Futures | Long | 16 | 3/31/2026 | USD3,341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(1)<br>|
| 5 Year U.S. Treasury Note Futures | Long | 15 | 3/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(6)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **51** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group High Yield Bond ETF (continued)

**Investments in affiliates** <sup>(i)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>6/24/2025<sup>(j)</sup> <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>12/31/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 7.41%** | **Short-term securities 7.41%** | **Short-term securities 7.41%** | **Short-term securities 7.41%** | **Short-term securities 7.41%** | **Short-term securities 7.41%** | **Short-term securities 7.41%** | **Short-term securities 7.41%** |
| **Money market investments 7.41%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 3.79% <sup>(h)</sup> | $— | &nbsp;&nbsp; $17812 | &nbsp;&nbsp; $13870 | &nbsp;&nbsp; $(1)<br>| &nbsp;&nbsp; $1 | &nbsp;&nbsp; $3942 | &nbsp;&nbsp; $97 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) 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 $37,064,000, which represented 69.70% of the net assets of the fund. 

<sup>(b)</sup> Scheduled interest and/or principal payment was not received.

<sup>(c)</sup> Step bond; coupon rate may change at a later date.

<sup>(d)</sup> Payment in kind; the issuer has the option of paying additional securities in lieu of cash. Payment methods and rates are as of the most recent payment when available. 

<sup>(e)</sup> Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $847,000, which represented 1.59% of the net assets of the fund. 

<sup>(f)</sup> 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. 

<sup>(g)</sup> Non-income producing.

<sup>(h)</sup> Rate represents the seven-day yield at 12/31/2025.

<sup>(i)</sup> Affiliate of the fund or part of the same "group of investment companies" as the fund, as defined under the Investment Company Act of 1940, as amended.

<sup>(j)</sup> Commencement of operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| CME = CME Group |
| DAC = Designated Activity Company |
| GBP = British pounds  |
| SOFR = Secured Overnight Financing Rate |
| USD = U.S. dollars |
| UST = U.S. Treasury |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **52** |

---

------

Capital Group International Bond ETF (USD-Hedged)

**Investment portfolio** December 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments 97.68% | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Euros 29.08%** | **Euros 29.08%** | **Euros 29.08%** |
| Agence Francaise de Developpement 2.75% 9/30/2030 | EUR<br> 500<br>| $580 |
| Albania (Republic of) 4.75% 2/14/2035 | 200 | 238 |
| Alpha Bank SA 4.25% 6/11/2031 (5-year EUR Mid-Swap + 5.823% on 6/11/2026) <sup>(a)</sup>  | 100 | 118 |
| Amprion Gmbh 3.875% 6/5/2036 | 400 | 469 |
| AT&T, Inc. 1.60% 5/19/2028 | 270 | 310 |
| Banco de Sabadell SA 5.125% 6/27/2034 (5-year EUR Mid-Swap + 2.40% on 6/7/2029) <sup>(a)</sup>  | 200 | 247 |
| Barclays PLC 4.616% 3/26/2037 (5-year EUR Mid-Swap + 2.05% on 3/26/2032) <sup>(a)</sup>  | 300 | 363 |
| Belgium (Kingdom of), Series 97, 3.00% 6/22/2033 | 390 | 456 |
| Belgium (Kingdom of), Series 101, 3.50% 6/22/2055 | 370 | 376 |
| BHP Billiton Finance, Ltd. 3.643% 9/4/2035 | 300 | 348 |
| BMS Ireland Capital Funding DAC 2.973% 11/10/2030 | 321 | 376 |
| BMS Ireland Capital Funding DAC 4.581% 11/10/2055 | 100 | 115 |
| Bulgaria (Republic of) 3.375% 7/18/2035 | 245 | 284 |
| CaixaBank SA 1.25% 6/18/2031 (5-year EUR Mid-Swap + 1.63% on 6/18/2026) <sup>(a)</sup>  | 300 | 351 |
| Colombia (Republic of) 3.75% 9/19/2028 | 610 | 712 |
| Deutsche Bank AG 4.00% 7/12/2028 (3-month EUR-EURIBOR + 0.95% on 7/12/2027) <sup>(a)</sup>  | 300 | 359 |
| Deutsche Bank AG 3.375% 2/13/2031 (3-month EUR-EURIBOR + 1.25% on 2/13/2030) <sup>(a)</sup>  | 300 | 353 |
| Electricite de France SA 2.625% junior subordinated perpetual bonds (5-year EUR Mid-Swap <br> + 2.86% on 6/1/2028) <sup>(a)</sup>  | 600 | 689 |
| Electricite de France SA 2.875% junior subordinated perpetual bonds (5-year EUR Mid-Swap <br> + 3.373% on 3/15/2027) <sup>(a)</sup>  | 400 | 468 |
| Equinor ASA 1.375% 5/22/2032 | 250 | 263 |
| European Financial Stability Facility 2.875% 2/13/2034 | 740 | 858 |
| European Financial Stability Facility 3.375% 8/30/2038 | 500 | 584 |
| European Union 2.50% 10/14/2030 | 955 | 1116 |
| European Union 2.75% 12/13/2032 | 1105 | 1288 |
| European Union 3.375% 12/12/2035 | 1500 | 1789 |
| European Union 3.75% 10/12/2045 | 450 | 522 |
| European Union 4.00% 10/12/2055 | 195 | 226 |
| French Republic O.A.T. 2.70% 2/25/2031 | 1164 | 1358 |
| French Republic O.A.T. 2.00% 11/25/2032 | 325 | 355 |
| French Republic O.A.T. 1.25% 5/25/2034 | 990 | 985 |
| French Republic O.A.T. 3.75% 5/25/2056 | 250 | 259 |
| Germany (Federal Republic of) 2.10% 4/12/2029 | 2355 | 2753 |
| Germany (Federal Republic of) 1.80% 8/15/2053 | 1129 | 937 |
| Germany (Federal Republic of) 2.50% 8/15/2054 | 427 | 415 |
| Greece (Hellenic Republic of) 1.75% 6/18/2032 | 100 | 109 |
| Greece (Hellenic Republic of) 4.375% 7/18/2038 | 700 | 881 |
| Iberdrola SA 1.874% 12/31/2079 (5-year EUR Mid-Swap + 2.321% on 4/28/2026) <sup>(a)</sup>  | 200 | 235 |
| Indonesia (Republic of) 0.90% 2/14/2027 | 225 | 259 |
| Italy (Republic of) 0.50% 7/15/2028 | 250 | 281 |
| Italy (Republic of) 3.35% 7/1/2029 | 750 | 905 |
| Italy (Republic of) 3.25% 11/15/2032 | 5450 | 6457 |
| Italy (Republic of) 3.85% 7/1/2034 | 1930 | 2354 |
| Italy (Republic of) 3.65% 8/1/2035 | 2332 | 2784 |
| Italy (Republic of) 4.45% 9/1/2043 | 290 | 358 |
| Italy (Republic of) 4.50% 10/1/2053 | 215 | 259 |
| McDonald's Corp. 0.25% 10/4/2028 <sup>(b)</sup>  | 100 | 110 |
| Mizuho Financial Group, Inc. 0.47% 9/6/2029 (3-month EUR-EURIBOR + 0.718% on <br> 9/6/2028) <sup>(a)</sup>  | 475 | 525 |
| Morgan Stanley 2.95% 5/7/2032 (3-month EUR-EURIBOR + 1.245% on 5/7/2031) <sup>(a)</sup>  | 375 | 432 |
| National Bank of Greece SA 8.00% 1/3/2034 (5-year EUR-ICE Swap EURIBOR + 4.646% on <br> 1/3/2029) <sup>(a)</sup>  | 100 | 131 |
| New York Life Global Funding 3.625% 1/9/2030 <sup>(b)</sup>  | 500 | 600 |
| Novo Nordisk Finance (Netherlands) BV 3.375% 5/21/2034 | 100 | 117 |
| Orange 3.50% 5/19/2035 | 300 | 348 |
| Philip Morris International, Inc. 2.75% 6/6/2029 | 320 | 374 |
| Philip Morris International, Inc. 0.80% 8/1/2031 | 150 | 154 |
| Portugal Republic 3.00% 6/15/2035 | 560 | 650 |
| Prologis Euro Finance, LLC 4.00% 5/5/2034 | 200 | 240 |
| Severn Trent Utilities Finance PLC 3.875% 8/4/2035 | 200 | 235 |
| Spain (Kingdom of) 3.10% 7/30/2031 | 700 | 837 |
| Spain (Kingdom of) 3.20% 10/31/2035 | 250 | 292 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **53** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group International Bond ETF (USD-Hedged) (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Euros (continued)** | **Euros (continued)** | **Euros (continued)** |
| Svenska Handelsbanken AB 5.00% 8/16/2034 (5-year EUR Mid-Swap + 1.90% on <br> 8/16/2029) <sup>(a)</sup>  | EUR<br> 210<br>| $261 |
| TotalEnergies SE 2.00% junior subordinated perpetual bonds (5-year EUR-EURIBOR + <br> 1.898% on 4/17/2027) <sup>(a)</sup>  | 520 | 604 |
| Toyota Finance Australia, Ltd. 2.676% 1/16/2029 | 625 | 731 |
| Treasury Corp. of Victoria 3.625% 9/29/2040 | 400 | 461 |
| United Mexican States 3.50% 9/19/2029 | 430 | 505 |
| Verallia SAS 3.875% 11/4/2032 | 300 | 344 |
|  |  | 43753 |
| **British pounds 9.19%** | **British pounds 9.19%** | **British pounds 9.19%** |
| United Kingdom 0.875% 10/22/2029 | GBP<br> 8,809<br>| 10675 |
| United Kingdom 4.50% 3/7/2035 | 250 | 338 |
| United Kingdom 0.625% 7/31/2035 | 2965 | 2811 |
|  |  | 13824 |
| **Chinese yuan renminbi 8.71%** | **Chinese yuan renminbi 8.71%** | **Chinese yuan renminbi 8.71%** |
| China (People's Republic of), Series INBK, 1.43% 1/25/2030 | CNY<br> 26,860<br>| 3824 |
| China (People's Republic of), Series INBK, 2.27% 5/25/2034 | 56420 | 8351 |
| China (People's Republic of), Series INBK, 1.92% 1/15/2055 | 1850 | 244 |
| China Development Bank, 1.54% 6/13/2030 | 4870 | 691 |
|  |  | 13110 |
| **Japanese yen 6.96%** | **Japanese yen 6.96%** | **Japanese yen 6.96%** |
| Japan, Series 181, 1.30% 9/20/2030 | JPY<br> 387,050<br>| 2444 |
| Japan, Series 380, 1.70% 9/20/2035 | 134750 | 835 |
| Japan, Series 21, 2.30% 12/20/2035 | 40000 | 261 |
| Japan, Series 194, 2.70% 9/20/2045 | 210000 | 1294 |
| Japan, Series 68, 0.60% 9/20/2050 | 443300 | 1553 |
| Japan, Series 84, 2.10% 9/20/2054 | 160000 | 784 |
| Japan, Series 88, 3.20% 9/20/2055 | 532850 | 3301 |
|  |  | 10472 |
| **Canadian dollars 5.95%** | **Canadian dollars 5.95%** | **Canadian dollars 5.95%** |
| Canada (Government) 4.00% 3/1/2029 | CAD<br> 2,100<br>| 1587 |
| Canada (Government) 2.75% 9/1/2030 | 7725 | 5577 |
| Canada (Government) 3.25% 6/1/2035 | 998 | 719 |
| CPPIB Capital, Inc. 4.00% 6/2/2035 | 500 | 369 |
| Ontario (Province of) 3.95% 12/2/2035 | 950 | 696 |
|  |  | 8948 |
| **Malaysian ringgits 4.41%** | **Malaysian ringgits 4.41%** | **Malaysian ringgits 4.41%** |
| Malaysia (Federation of), Series 0120, 3.422% 9/30/2027 | MYR<br> 3,090<br>| 767 |
| Malaysia (Federation of), Series 0219, 3.885% 8/15/2029 | 1880 | 474 |
| Malaysia (Federation of), Series 0125, 3.336% 5/15/2030 | 2700 | 668 |
| Malaysia (Federation of), Series 0419, 3.828% 7/5/2034 | 13090 | 3308 |
| Malaysia (Federation of), Series 0124, 4.054% 4/18/2039 | 2100 | 533 |
| Malaysia (Federation of), Series 0224, 4.18% 5/16/2044 | 3470 | 891 |
|  |  | 6641 |
| **Brazilian reais 4.22%** | **Brazilian reais 4.22%** | **Brazilian reais 4.22%** |
| Brazil (Federative Republic of) 0% 1/1/2026 | BRL<br> 2,938<br>| 536 |
| Brazil (Federative Republic of) 0% 4/1/2026 | 6452 | 1139 |
| Brazil (Federative Republic of) 0% 7/1/2026 | 2430 | 415 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **54** |

---

------

Capital Group International Bond ETF (USD-Hedged) (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Brazilian reais (continued)** | **Brazilian reais (continued)** | **Brazilian reais (continued)** |
| Brazil (Federative Republic of) 0% 1/1/2029 | BRL<br> 17,035<br>| $2144 |
| Brazil (Federative Republic of) 10.00% 1/1/2031 | 12102 | 1941 |
| Brazil (Federative Republic of) 6.00% 8/15/2050 | 1062 | 169 |
|  |  | 6344 |
| **Australian dollars 3.77%** | **Australian dollars 3.77%** | **Australian dollars 3.77%** |
| Australia (Commonwealth of) 1.00% 12/21/2030 | AUD<br> 4,918<br>| 2803 |
| Australia (Commonwealth of) 4.25% 12/21/2035 | 849 | 545 |
| New South Wales Treasury Corp. 5.25% 2/24/2038 | 2143 | 1392 |
| Treasury Corp. of Victoria 5.50% 9/15/2039 | 1435 | 935 |
|  |  | 5675 |
| **South Korean won 3.62%** | **South Korean won 3.62%** | **South Korean won 3.62%** |
| South Korea (Republic of), Series 2712, 2.375% 12/10/2027 | KRW<br> 672,890<br>| 463 |
| South Korea (Republic of), Series 2903, 3.25% 3/10/2029 | 826800 | 577 |
| South Korea (Republic of), Series 3312, 4.125% 12/10/2033 | 6049940 | 4414 |
|  |  | 5454 |
| **Hungarian forints 2.37%** | **Hungarian forints 2.37%** | **Hungarian forints 2.37%** |
| Hungary (Republic of) 3.00% 8/21/2030 | HUF<br> 1,341,390<br>| 3562 |
| **New Zealand dollars 1.68%** | **New Zealand dollars 1.68%** | **New Zealand dollars 1.68%** |
| New Zealand 4.25% 5/15/2036 | NZD<br> 4,475<br>| 2523 |
| **Philippine pesos 1.49%** | **Philippine pesos 1.49%** | **Philippine pesos 1.49%** |
| International Bank for Reconstruction & Development 4.93% 11/3/2032 | PHP<br> 31,600<br>| 531 |
| Philippines (Republic of) 6.25% 2/28/2029 | 17900 | 310 |
| Philippines (Republic of) 6.75% 9/15/2032 | 62000 | 1103 |
| Philippines (Republic of) 6.375% 4/28/2035 | 17500 | 305 |
|  |  | 2249 |
| **Czech korunas 1.22%** | **Czech korunas 1.22%** | **Czech korunas 1.22%** |
| Czech Republic 5.75% 3/29/2029 | CZK<br> 35,750<br>| 1841 |
| **Chilean pesos 0.79%** | **Chilean pesos 0.79%** | **Chilean pesos 0.79%** |
| Chile (Republic of) 6.00% 4/1/2033 | CLP<br> 1,025,000<br>| 1187 |
| **Norwegian kroner 0.71%** | **Norwegian kroner 0.71%** | **Norwegian kroner 0.71%** |
| Norway (Kingdom of) 3.75% 6/12/2035 | NOK<br> 11,090<br>| 1067 |
| **Colombian pesos 0.51%** | **Colombian pesos 0.51%** | **Colombian pesos 0.51%** |
| Colombia (Republic of), Series B, 7.75% 9/18/2030 | COP<br> 2,050,100<br>| 446 |
| Colombia (Republic of), Series B, 7.25% 10/18/2034 | 1076100 | 203 |
| Colombia (Republic of), Series B, 11.75% 1/24/2035 | 459700 | 114 |
|  |  | 763 |
| **Mexican pesos 0.39%** | **Mexican pesos 0.39%** | **Mexican pesos 0.39%** |
| United Mexican States, Series M, 8.00% 2/21/2036 | MXN<br> 5,559<br>| 286 |
| United Mexican States, Series M, 8.00% 7/31/2053 | 6500 | 308 |
|  |  | 594 |
| **Turkish lira 0.14%** | **Turkish lira 0.14%** | **Turkish lira 0.14%** |
| Turkey (Republic of), Series 2Y, 36.00% 8/12/2026 | TRY<br> 8,900<br>| 209 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **55** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group International Bond ETF (USD-Hedged) (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. dollars 12.47%** | **U.S. dollars 12.47%** | **U.S. dollars 12.47%** |
| ACHD Trust, Series 2025-DS1, Class A, 5.978% 1/9/2034 <sup>(c)(d)</sup>  | USD<br> 100<br>| $100 |
| Amgen, Inc. 5.65% 3/2/2053 | 75 | 74 |
| Ansley Park Capital, LLC, Series 2025-A, Class C, 4.82% 4/20/2035 <sup>(c)(d)</sup>  | 100 | 101 |
| Apollo Aviation Securitization Equity Trust, Series 2025-3A, Class A, 5.243% 2/16/2050 <sup>(c)(d)</sup>  | 299 | 300 |
| Arthur J. Gallagher & Co. 5.15% 2/15/2035 | 240 | 243 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2024-3, Class B, 5.58% 12/20/2030 <sup>(c)(d)</sup>  | 300 | 310 |
| Bank5, Series 2025-5YR18, Class AS, 5.466% 12/15/2058 <sup>(c)(e)</sup>  | 140 | 144 |
| BMO Mortgage Trust, Series 2024-5C8, Class AS, 5.94% 12/15/2057 <sup>(c)(e)</sup>  | 45 | 47 |
| Broadcom, Inc. 3.469% 4/15/2034 | 200 | 182 |
| Broadcom, Inc. 5.20% 7/15/2035 | 102 | 105 |
| BX Trust, Series 2021-SDMF, Class A, (1-month USD CME Term SOFR + 0.703%) 4.454% <br> 9/15/2034 <sup>(c)(d)(e)</sup>  | 93 | 93 |
| BX Trust, Series 2021-ACNT, Class A, (1-month USD CME Term SOFR + 0.964%) 4.715% <br> 11/15/2038 <sup>(c)(d)(e)</sup>  | 78 | 78 |
| BX Trust, Series 2025-BIO3, Class A, 6.138% 2/10/2042 <sup>(c)(d)</sup>  | 100 | 103 |
| BX Trust, Series 2025-VOLT, Class A, (1-month USD CME Term SOFR + 1.70%) 5.70% <br> 12/15/2044 <sup>(c)(d)(e)</sup>  | 271 | 272 |
| BX Trust, Series 2025-VOLT, Class D, (1-month USD CME Term SOFR + 2.75%) 6.75% <br> 12/15/2044 <sup>(c)(d)(e)</sup>  | 140 | 140 |
| CaixaBank SA 5.673% 3/15/2030 (USD-SOFR + 1.78% on 3/15/2029) <sup>(a)(d)</sup>  | 290 | 301 |
| CALI Mortgage Trust, Series 24-SUN, Class A, (1-month USD CME Term SOFR + 1.89%) <br> 5.641% 7/15/2041 <sup>(c)(d)(e)</sup>  | 100 | 100 |
| Canadian National Railway Co. 4.20% 3/12/2031 | 525 | 524 |
| Charter Communications Operating, LLC 2.80% 4/1/2031 | 300 | 270 |
| Charter Communications Operating, LLC 4.40% 4/1/2033 | 380 | 358 |
| Charter Communications Operating, LLC 6.70% 12/1/2055 | 355 | 341 |
| China Oil and Gas Group, Ltd. 4.70% 6/30/2026 | 220 | 217 |
| Colombia (Republic of) 3.00% 1/30/2030 | 200 | 180 |
| Connecticut Avenue Securities Trust, Series 2024-R02, Class 1M1, (30-day Average <br> USD-SOFR + 1.10%) 4.974% 2/25/2044 <sup>(c)(d)(e)</sup>  | 38 | 38 |
| Coty, Inc. 5.60% 1/15/2031 <sup>(d)</sup>  | 480 | 485 |
| Durst Commercial Mortgage Trust, Series 2025-151, Class A, 5.317% 8/10/2042 <sup>(c)(d)(e)</sup>  | 100 | 102 |
| Edison International 6.25% 3/15/2030 | 25 | 26 |
| Edison International 5.25% 3/15/2032 | 150 | 150 |
| Enel Finance International NV 4.125% 9/30/2028 <sup>(d)</sup>  | 200 | 200 |
| Enterprise Products Operating, LLC 5.20% 1/15/2036 | 19 | 19 |
| Export-Import Bank of Thailand 5.354% 5/16/2029 | 250 | 259 |
| Fannie Mae Pool #MA5446 6.50% 8/1/2054 <sup>(c)</sup>  | 51 | 53 |
| Fannie Mae Pool #MA5472 6.50% 9/1/2054 <sup>(c)</sup>  | 151 | 157 |
| Fannie Mae Pool #DC2758 6.50% 4/1/2055 <sup>(c)</sup>  | 139 | 145 |
| Fannie Mae Pool #MA5701 6.00% 5/1/2055 <sup>(c)</sup>  | 32 | 33 |
| Fannie Mae Pool #MA5737 6.50% 6/1/2055 <sup>(c)</sup>  | 134 | 139 |
| Ford Motor Co. 3.25% 2/12/2032 | 150 | 132 |
| Ford Motor Credit Co., LLC 6.95% 6/10/2026 | 250 | 252 |
| Ford Motor Credit Co., LLC 5.875% 11/7/2029 | 490 | 503 |
| Freddie Mac Pool #RJ2702 6.00% 8/1/2054 <sup>(c)</sup>  | 135 | 139 |
| Freddie Mac Pool #QJ3931 6.50% 9/1/2054 <sup>(c)</sup>  | 168 | 174 |
| Freddie Mac Pool #SD8525 6.00% 4/1/2055 <sup>(c)</sup>  | 97 | 99 |
| Freddie Mac Pool #SD8534 6.00% 5/1/2055 <sup>(c)</sup>  | 27 | 28 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1B, <br> (30-day Average USD-SOFR + 3.70%) 7.574% 9/25/2042 <sup>(c)(d)(e)</sup>  | 100 | 104 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2025-DNA1, Class A1, <br> (30-day Average USD-SOFR + 0.95%) 4.824% 1/25/2045 <sup>(c)(d)(e)</sup>  | 11 | 11 |
| GENM Capital Labuan, Ltd. 3.882% 4/19/2031 | 400 | 363 |
| Hawaii Hotel Trust, Series 2025-MAUI, Class E, (1-month USD CME Term SOFR + 3.29%) <br> 7.04% 3/15/2042 <sup>(c)(d)(e)</sup>  | 100 | 98 |
| Hudson Yards Mortgage Trust, Series 2025-SPRL, Class A, 5.467% 1/13/2040 <sup>(c)(d)(e)</sup>  | 109 | 113 |
| Hyundai Capital America 4.25% 9/18/2028 <sup>(d)</sup>  | 217 | 217 |
| Hyundai Capital America 5.40% 6/24/2031 <sup>(d)</sup>  | 340 | 352 |
| Imprint Payments Credit Card Master Trust, Series 2025-A, Class D, 5.82% 9/15/2029 <sup>(c)(d)</sup>  | 100 | 100 |
| Intercontinental Exchange, Inc. 3.95% 12/1/2028 | 350 | 351 |
| Intercontinental Exchange, Inc. 4.20% 3/15/2031 | 115 | 115 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **56** |

---

------

Capital Group International Bond ETF (USD-Hedged) (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. dollars (continued)** | **U.S. dollars (continued)** | **U.S. dollars (continued)** |
| Intesa Sanpaolo SpA 8.248% 11/21/2033 (1-year UST Yield Curve Rate T Note Constant <br> Maturity + 4.40% on 11/21/2032) <sup>(a)(d)</sup>  | USD<br> 200<br>| $236 |
| Kasikornbank PCL (Hong Kong Branch) 3.343% 10/2/2031 (5-year UST Yield Curve Rate T <br> Note Constant Maturity + 1.70% on 10/2/2026) <sup>(a)</sup>  | 600 | 593 |
| Korea Electric Power Corp. 4.75% 2/13/2028 <sup>(d)</sup>  | 200 | 203 |
| Korea Gas Corp. 5.00% 7/8/2029 <sup>(d)</sup>  | 200 | 207 |
| LG Energy Solution, Ltd. 5.25% 4/2/2028 <sup>(d)</sup>  | 200 | 204 |
| LYB International Finance III, LLC 5.125% 1/15/2031 | 37 | 37 |
| Mars, Inc. 5.20% 3/1/2035 <sup>(d)</sup>  | 430 | 442 |
| Meta Platforms, Inc. 5.50% 11/15/2045 | 120 | 117 |
| MFRA Trust, Series 2025-NQM3, Class A1, 5.261% 8/25/2070 (6.261% on 7/1/2029) <sup>(a)(c)(d)</sup>  | 97 | 97 |
| Mission Lane Credit Card Master Trust, Series 2025-C, Class A, 4.78% 12/16/2030 <sup>(c)(d)</sup>  | 100 | 101 |
| MMP Capital, Series 2025-A, Class B, 5.72% 12/15/2031 <sup>(c)(d)</sup>  | 100 | 102 |
| Motherson Global Investments BV 5.625% 7/11/2029 <sup>(d)</sup>  | 200 | 204 |
| MTN (Mauritius) Investments, Ltd. 6.50% 10/13/2026 | 400 | 405 |
| NextEra Energy Capital Holdings, Inc. 4.685% 9/1/2027 | 50 | 51 |
| NYC Commercial Mortgage Trust, Series 2025-28L, Class A, 4.669% 11/5/2038 <sup>(c)(d)(e)</sup>  | 153 | 153 |
| Onslow Bay Financial, LLC, Series 2025-NQM3, Class A1, 5.648% 12/1/2064 (6.648% on <br> 2/1/2029) <sup>(a)(c)(d)</sup>  | 83 | 83 |
| Onslow Bay Financial, LLC, Series 2025-NQM19, Class A1, 4.869% 10/25/2065 <sup>(c)(d)(e)</sup>  | 301 | 302 |
| Oracle Corp. 4.45% 9/26/2030 | 250 | 245 |
| Oracle Corp. 6.00% 8/3/2055 | 355 | 313 |
| OWN Equipment Fund III, Series 2025-2M, Class C, 8.77% 3/27/2034 <sup>(c)(d)</sup>  | 500 | 502 |
| Pacific Gas and Electric Co. 5.00% 6/4/2028 | 100 | 102 |
| Pacific Gas and Electric Co. 4.65% 8/1/2028 | 150 | 151 |
| Pacific Gas and Electric Co. 6.00% 8/15/2035 | 50 | 53 |
| PacifiCorp 5.30% 2/15/2031 | 715 | 737 |
| Petroleos Mexicanos 6.70% 2/16/2032 | 540 | 539 |
| Pfizer Investment Enterprises Pte., Ltd. 5.30% 5/19/2053 | 70 | 66 |
| Roper Technologies, Inc. 4.45% 9/15/2030 | 490 | 492 |
| San Miguel Global Power Holdings Corp. 8.75% perpetual bonds (5-year UST Yield Curve <br> Rate T Note Constant Maturity + 7.732% on 9/12/2029) <sup>(a)</sup>  | 200 | 206 |
| Sands China, Ltd. 5.40% 8/8/2028 | 200 | 204 |
| SCF Equipment Trust, LLC, Series 2025-1A, Class A3, 5.11% 11/21/2033 <sup>(c)(d)</sup>  | 100 | 102 |
| Securitized Term Auto Receivables Trust, Series 2025-A, Class B, 5.038% 7/25/2031 <sup>(c)(d)</sup>  | 3 | 3 |
| Southern California Edison Co. 5.45% 3/1/2035 | 120 | 122 |
| Southern California Edison Co. 5.90% 3/1/2055 | 100 | 97 |
| Stillwater Mining Co. 4.00% 11/16/2026 <sup>(b)</sup>  | 200 | 199 |
| SWCH Commercial Mortgage Trust, Series 2025-DATA, Class D, (1-month USD CME Term <br> SOFR + 2.591%) 6.391% 2/15/2042 <sup>(c)(d)(e)</sup>  | 100 | 99 |
| Synopsys, Inc. 5.15% 4/1/2035 | 290 | 295 |
| Teva Pharmaceutical Finance Netherlands III BV 3.15% 10/1/2026 | 159 | 158 |
| U.S. Bank National Association, Series 2025-SUP1, Class B, 5.582% 2/25/2032 <sup>(c)(d)</sup>  | 161 | 162 |
| U.S. Treasury 4.00% 11/15/2035 <sup>(f)</sup>  | 115 | 113 |
| Uniform Mortgage-Backed Security 6.50% 1/1/2056 <sup>(c)</sup>  | 63 | 66 |
| United Mexican States 5.375% 3/22/2033 | 400 | 398 |
| UnitedHealth Group, Inc. 5.15% 7/15/2034 | 102 | 105 |
| Verus Securitization Trust, Series 2024-9, Class A1, 5.438% 11/25/2069 <sup>(c)(d)(e)</sup>  | 84 | 84 |
| Wingspire Equipment Finance, LLC, Series 2024-1A, Class A2, 4.99% 9/20/2032 <sup>(c)(d)</sup>  | 68 | 68 |
|  |  | 18758 |
| **Total bonds, notes & other debt instruments** (cost: $145,030,000) | **Total bonds, notes & other debt instruments** (cost: $145,030,000) | 146974 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **57** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group International Bond ETF (USD-Hedged) (continued)

---

| | | |
|:---|:---|:---|
| Short-term securities 0.83% | Shares | Value<br> (000)<br>|
| **Money market investments 0.83%** | **Money market investments 0.83%** | **Money market investments 0.83%** |
| Capital Group Central Cash Fund 3.79% <sup>(g)(h)</sup>  | 12413 | $1241 |
| **Total short-term securities** (cost: $1,241,000) |  | 1241 |
| **Total investment securities 98.51%** (cost: $146,271,000) |  | 148215 |
| Other assets less liabilities 1.49% |  | 2248 |
| **Net Assets** 100.00% |  | $150463 |

---

**Futures contracts**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 3 Month SONIA Index Futures | Long | 40 | 3/17/2026 | USD12,975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $12 |
| 2 Year Euro-Schatz Futures | Long | 150 | 3/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)<br>|
| 3 Year Australian Treasury Bond Futures | Long | 107 | 3/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| 5 Year Canadian Government Bond Futures | Long | 28 | 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (20)<br>|
| 5 Year Euro-Bobl Futures | Long | 93 | 3/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (59)<br>|
| 5 Year U.S. Treasury Note Futures | Short | 29 | 3/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3170)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 |
| 10 Year Australian Treasury Bond Futures | Long | 12 | 3/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| 10 Year Euro-Bund Futures | Short | 70 | 3/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10494)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64 |
| 10 Year French Government Bond Futures | Long | 3 | 3/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| 10 Year Italy Government Bond Futures | Long | 1 | 3/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(i)</sup><br>|
| 10 Year Japanese Government Bond Futures | Long | 5 | 3/13/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (30)<br>|
| 10 Year UK Gilt Futures | Long | 3 | 3/27/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 |
| 10 Year U.S. Treasury Note Futures | Short | 2 | 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (225)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| 10 Year Ultra U.S. Treasury Note Futures | Short | 74 | 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8511)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16 |
| 30 Year Euro-Buxl Futures | Long | 9 | 3/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (16)<br>|
| 30 Year Ultra U.S. Treasury Bond Futures | Long | 3 | 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(17)<br>|

---

**Forward currency contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contract amount | Contract amount | Contract amount | Contract amount | Counterparty | &nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Currency purchased <br>(000) | Currency purchased <br>(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | Counterparty | &nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| TRY | 82 | USD | 3575 | BNP Paribas | 1/7/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1 |
| USD | 207 | HUF | 67900 | JPMorgan Chase Bank | 1/7/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | 935 | HUF | 309000 | UBS AG | 1/7/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10)<br>|
| USD | 149 | MYR | 610 | JPMorgan Chase Bank | 1/8/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | 345 | MYR | 1420 | BNP Paribas | 1/8/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| USD | 2722 | MYR | 11124 | HSBC Bank | 1/8/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (21)<br>|
| USD | 2674 | MYR | 11030 | JPMorgan Chase Bank | 1/8/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (45)<br>|
| USD | 615 | MXN | 11091 | Morgan Stanley | 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(i)</sup><br>|
| USD | 386 | CAD | 530 | Bank of New York | 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(i)</sup><br>|
| CAD | 165 | USD | 226 | JPMorgan Chase Bank | 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(i)</sup><br>|
| USD | 126 | GBP | 95 | Morgan Stanley | 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| USD | 344 | CZK | 7150 | Goldman Sachs | 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| USD | 408 | CAD | 565 | Goldman Sachs | 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)<br>|
| USD | 247 | KRW | 364000 | Morgan Stanley | 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| USD | 286 | KRW | 420083 | Barclays Bank PLC | 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| USD | 4318 | CAD | 5935 | Standard Chartered Bank | 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7)<br>|
| USD | 1548 | CZK | 32050 | JPMorgan Chase Bank | 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **58** |

---

------

Capital Group International Bond ETF (USD-Hedged) (continued)

**Forward currency contracts** (continued)

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contract amount | Contract amount | Contract amount | Contract amount | Counterparty | &nbsp;&nbsp; Settlement<br> date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 12/31/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Currency purchased<br> (000) | Currency purchased<br> (000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | Counterparty | &nbsp;&nbsp; Settlement<br> date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 12/31/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| USD | 818 | COP | 3159500 | BNP Paribas | 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(17)<br>|
| USD | 503 | BRL | 2920 | Standard Chartered Bank | 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (30)<br>|
| USD | 4027 | CAD | 5604 | JPMorgan Chase Bank | 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (58)<br>|
| USD | 5111 | GBP | 3840 | UBS AG | 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (66)<br>|
| USD | 4781 | KRW | 7001316 | Citibank | 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (74)<br>|
| USD | 2409 | NZD | 4150 | HSBC Bank | 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19 |
| USD | 147 | NZD | 255 | Morgan Stanley | 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | 374 | AUD | 563 | JPMorgan Chase Bank | 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | 179 | AUD | 270 | Barclays Bank PLC | 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | 1089 | NOK | 11040 | HSBC Bank | 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7)<br>|
| USD | 825 | HUF | 273500 | Citibank | 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11)<br>|
| USD | 1604 | HUF | 530354 | BNP Paribas | 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (17)<br>|
| USD | 5182 | AUD | 7831 | Morgan Stanley | 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (44)<br>|
| USD | 10424 | JPY | 1616342 | Citibank | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| USD | 364 | JPY | 56710 | Goldman Sachs | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| JPY | 329 | USD | 51528 | JPMorgan Chase Bank | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(i)</sup><br>|
| USD | 192 | JPY | 30187 | Goldman Sachs | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | 421 | CNH | 2950 | HSBC Bank | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| USD | 739 | CNH | 5190 | Goldman Sachs | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6)<br>|
| USD | 12035 | CNH | 84582 | Goldman Sachs | 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (97)<br>|
| USD | 175 | GBP | 130 | Goldman Sachs | 1/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(i)</sup><br>|
| USD | 150 | GBP | 112 | Standard Chartered Bank | 1/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | 524 | GBP | 390 | BNP Paribas | 1/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| USD | 2124 | GBP | 1588 | Bank of New York | 1/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (17)<br>|
| USD | 5580 | GBP | 4159 | Morgan Stanley | 1/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (26)<br>|
| USD | 4359 | BRL | 23718 | Citibank | 1/23/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51 |
| USD | 2212 | PHP | 130625 | Citibank | 1/23/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)<br>|
| USD | 24016 | EUR | 20391 | HSBC Bank | 1/26/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 |
| USD | 1615 | EUR | 1370 | Standard Chartered Bank | 1/26/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| USD | 271 | EUR | 230 | JPMorgan Chase Bank | 1/26/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>(i)</sup><br>|
| USD | 18196 | EUR | 15463 | Morgan Stanley | 1/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
| USD | 419 | EUR | 357 | Morgan Stanley | 1/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| USD | 1190 | CLP | 1095200 | Morgan Stanley | 3/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (28)<br>|
| USD | 625 | BRL | 3440 | Citibank | 4/8/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12 |
| USD | 536 | BRL | 2990 | Citibank | 4/8/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| USD | 421 | BRL | 2400 | Morgan Stanley | 7/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(407)<br>|

---

**Swap contracts**

------

**Interest rate swaps**

**Centrally cleared interest rate swaps** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | Expiration <br>date | Notional <br>amount <br>(000) | Value at <br>12/31/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 12/31/2025 <br>(000) |
| Rate | &nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp; Payment <br>frequency<br>| Expiration <br>date | Notional <br>amount <br>(000) | Value at <br>12/31/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 12/31/2025 <br>(000) |
| 6-month EURIBOR | Semi-annual | 2.2032% | Annual | &nbsp;&nbsp; 2/10/2027 | EUR1,250 | &nbsp;&nbsp; $— <br><sup>(i)</sup><br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— <br><sup>(i)</sup><br>|
| 6-month EURIBOR | Semi-annual | 2.2007% | Annual | &nbsp;&nbsp; 2/10/2027 | &nbsp;&nbsp; 1250 | &nbsp;&nbsp; — <br><sup>(i)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — <br><sup>(i)</sup><br>|
| 4.1378% | Annual | 6-month NOK-NIBOR | Semi-annual | &nbsp;&nbsp; 2/10/2027 | NOK14,760 | &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (2)<br>|
| 4.135% | Annual | 6-month NOK-NIBOR | Semi-annual | &nbsp;&nbsp; 2/10/2027 | &nbsp;&nbsp; 14740 | &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (2)<br>|
| 3-month SEK STIBOR | Quarterly | 2.3132% | Annual | &nbsp;&nbsp; 5/1/2030 | SEK22,000 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; — | &nbsp;&nbsp; 17 |
| 3.7898% | Annual | 6-month NOK-NIBOR | Semi-annual | &nbsp;&nbsp; 9/10/2030 | NOK9,350 | &nbsp;&nbsp; (12)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (12)<br>|
| 3-month SEK STIBOR | Quarterly | 2.3327% | Annual | &nbsp;&nbsp; 10/7/2030 | SEK13,000 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; — | &nbsp;&nbsp; 13 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **59** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group International Bond ETF (USD-Hedged) (continued)

**Swap contracts** (continued)

------

**Interest rate swaps** (continued)

**Centrally cleared interest rate swaps** (continued)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | Expiration<br> date | Notional<br> amount<br> (000) | Value at<br> 12/31/2025<br> (000) | Upfront<br> premium<br> paid<br> (received)<br> (000) | Unrealized<br> appreciation<br> (depreciation)<br> at 12/31/2025<br> (000) |
| Rate | &nbsp;&nbsp; Payment<br> frequency<br>| Rate | &nbsp;&nbsp; Payment<br> frequency<br>| Expiration<br> date | Notional<br> amount<br> (000) | Value at<br> 12/31/2025<br> (000) | Upfront<br> premium<br> paid<br> (received)<br> (000) | Unrealized<br> appreciation<br> (depreciation)<br> at 12/31/2025<br> (000) |
| 3-month SEK STIBOR | Quarterly | 2.3592% | Annual | &nbsp;&nbsp; 10/9/2030 | &nbsp;&nbsp; 4000 | &nbsp;&nbsp; $3 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $3 |
| 4.0258% | Annual | 6-month NOK-NIBOR | Semi-annual | &nbsp;&nbsp; 11/11/2030 | NOK37,644 | &nbsp;&nbsp; (12)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (12)<br>|
| 4.0988% | Annual | 6-month NOK-NIBOR | Semi-annual | &nbsp;&nbsp; 11/12/2030 | &nbsp;&nbsp; 11000 | &nbsp;&nbsp; — <br><sup>(i)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — <br><sup>(i)</sup><br>|
| 4.0588% | Annual | 6-month NOK-NIBOR | Semi-annual | &nbsp;&nbsp; 12/9/2030 | &nbsp;&nbsp; 3056 | &nbsp;&nbsp; — <br><sup>(i)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — <br><sup>(i)</sup><br>|
| SOFR | Annual | 3.313% | Annual | &nbsp;&nbsp; 9/10/2032 | USD970 | &nbsp;&nbsp; 15 | &nbsp;&nbsp; — | &nbsp;&nbsp; 15 |
| 3-month SEK STIBOR | Quarterly | 2.9592% | Annual | &nbsp;&nbsp; 12/9/2035 | SEK7,388 | &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (2)<br>|
| 3-month SEK STIBOR | Quarterly | 2.9747% | Annual | &nbsp;&nbsp; 12/19/2035 | &nbsp;&nbsp; 9430 | &nbsp;&nbsp; (4)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (4)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp; $14 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $14 |

---

**Bilateral interest rate swaps** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | Counterparty | &nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp; Notional <br>amount <br>(000) | &nbsp;&nbsp; Value at <br>12/31/2025 <br>(000) | &nbsp;&nbsp; Upfront <br>premium <br>paid <br>(received) <br>(000) | &nbsp;&nbsp; Unrealized <br>appreciation <br>(depreciation) <br>at 12/31/2025 <br>(000) |
| Rate | &nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp; Payment <br>frequency<br>| Counterparty | &nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp; Notional <br>amount <br>(000) | &nbsp;&nbsp; Value at <br>12/31/2025 <br>(000) | &nbsp;&nbsp; Upfront <br>premium <br>paid <br>(received) <br>(000) | &nbsp;&nbsp; Unrealized <br>appreciation <br>(depreciation) <br>at 12/31/2025 <br>(000) |
| 14.89% | At maturity | BZDIOVER | At maturity | Goldman Sachs | &nbsp;&nbsp; 1/4/2027 | &nbsp;&nbsp; BRL4,880 | &nbsp;&nbsp; $13 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $13 |
| 11.91% | At maturity | BZDIOVER | At maturity | Barclays Bank PLC | &nbsp;&nbsp; 1/4/2027 | &nbsp;&nbsp; 6400 | &nbsp;&nbsp; (48)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (48)<br>|
|  |  |  |  |  |  |  | &nbsp;&nbsp; $(35)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(35)<br>|

---

**Credit default swaps**

**Centrally cleared credit default swaps on credit indices — buy protection** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp; Financing <br>rate paid<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| CDX.NA.HY.S45 | 5.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 12/20/2030 | &nbsp;&nbsp;&nbsp;&nbsp; USD<br> 375<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(29)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(29)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— <br><sup>(i)</sup><br>|

---

**Centrally cleared credit default swaps on credit indices — sell protection** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Financing <br>rate received<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Reference <br>index<br>| &nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <sup>(j)</sup> <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp; Value at <br>12/31/2025<sup>(k)</sup> <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 1.00% | Quarterly | iTraxx Europe S44 | &nbsp;&nbsp;&nbsp;&nbsp; 12/20/2030 | EUR7,240 | &nbsp;&nbsp;&nbsp;&nbsp; $197 | &nbsp;&nbsp;&nbsp;&nbsp; $183 | &nbsp;&nbsp;&nbsp;&nbsp; $14 |
| 5.00% | Quarterly | iTraxx Europe Crossover S44 | &nbsp;&nbsp;&nbsp;&nbsp; 12/20/2030 | EUR950 | &nbsp;&nbsp;&nbsp;&nbsp; 123 | &nbsp;&nbsp;&nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp;&nbsp; 8 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $320 | &nbsp;&nbsp;&nbsp;&nbsp; $298 | &nbsp;&nbsp;&nbsp;&nbsp; $22 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **60** |

---

------

Capital Group International Bond ETF (USD-Hedged) (continued)

**Investments in affiliates** <sup>(h)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>12/31/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 0.83%** | **Short-term securities 0.83%** | **Short-term securities 0.83%** | **Short-term securities 0.83%** | **Short-term securities 0.83%** | **Short-term securities 0.83%** | **Short-term securities 0.83%** | **Short-term securities 0.83%** |
| **Money market investments 0.83%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 3.79% <sup>(g)</sup> | $3781 | &nbsp;&nbsp; $54331 | &nbsp;&nbsp; $56870 | &nbsp;&nbsp; $(1)<br>| &nbsp;&nbsp; $— <br><sup>(i)</sup><br>| &nbsp;&nbsp; $1241 | &nbsp;&nbsp; $105 |

---

**Restricted securities** <sup>(b)</sup>

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| New York Life Global Funding 3.625% 1/9/2030  | 9/9/2024- 11/11/2025 | $598 | $600 | 0.40<br> %<br>|
| Stillwater Mining Co. 4.00% 11/16/2026  | 6/25/2024 | 194 | 199 | 0.13 |
| McDonald's Corp. 0.25% 10/4/2028  | 6/25/2024 | 99 | 110 | 0.08 |
|  |  | $891 | $909 | 0.61<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Step bond; coupon rate may change at a later date.

<sup>(b)</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933.

<sup>(c)</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>(d)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) 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 $7,072,000, which represented 4.70% of the net assets of the fund. 

<sup>(e)</sup> 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. 

<sup>(f)</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $113,000, which represented 0.08% of the net assets of the fund. 

<sup>(g)</sup> Rate represents the seven-day yield at 12/31/2025.

<sup>(h)</sup> Affiliate of the fund or part of the same "group of investment companies" as the fund, as defined under the Investment Company Act of 1940, as amended.

<sup>(i)</sup> Amount less than one thousand.

<sup>(j)</sup> The maximum potential amount the fund may pay as a protection seller should a credit event occur.

<sup>(k)</sup> The prices and resulting values for credit default swap indices serve as an indicator of the current status of the payment/performance risk. As the value of a sell protection credit default swap increases or decreases, when compared to the notional amount of the swap, the payment/performance risk may decrease or increase, respectively. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| AUD = Australian dollars |
| BRL = Brazilian reais |
| BZDIOVER = Overnight Brazilian Interbank Deposit Rate |
| CAD = Canadian dollars |
| CLP = Chilean pesos |
| CME = CME Group |
| CNH = Chinese yuan renminbi |
| CNY = Chinese yuan |
| COP = Colombian pesos |
| CZK = Czech korunas |
| DAC = Designated Activity Company |
| EUR = Euros |
| EURIBOR = Euro Interbank Offered Rate |
| GBP = British pounds |
| HUF = Hungarian forints |
| ICE = Intercontinental Exchange, Inc. |

---

---

| |
|:---|
| JPY = Japanese yen |
| KRW = South Korean won |
| MXN = Mexican pesos |
| MYR = Malaysian ringgits |
| NIBOR = Norwegian Interbank Offered Rate |
| NOK = Norwegian kroner |
| NZD = New Zealand dollars |
| PHP = Philippine pesos |
| SEK = Swedish kronor |
| SOFR = Secured Overnight Financing Rate |
| SONIA = Sterling Overnight Interbank Average Rate |
| STIBOR = Stockholm Interbank Offered Rate |
| TRY = Turkish lira |
| USD = U.S. dollars |
| UST = U.S. Treasury |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **61** | Capital Group Fixed Income ETF Trust |

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Capital Group Municipal Income ETF

**Investment portfolio** December 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments 92.95% | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Alabama 5.67%** | **Alabama 5.67%** | **Alabama 5.67%** |
| Auburn University, General Fee Rev. Bonds, Series 2025-A, 5.00% 6/1/2044  | USD<br> 1,250<br>| $1347 |
| County of Baldwin, Industrial Dev. Auth., Solid Waste Disposal Rev. Bonds (Novelis Corp. Project), Series 2025-B, AMT, <br> 4.625% 6/1/2055 (put 6/1/2032) <sup>(a)</sup>  | 3110 | 3125 |
| County of Baldwin, Industrial Dev. Auth., Solid Waste Disposal Rev. Bonds (Novelis Corp. Project), Series 2025-A, AMT, <br> 5.00% 6/1/2055 (put 6/1/2032) <sup>(a)</sup>  | 5365 | 5473 |
| City of Birmingham, Water Works Board, Rev. Anticipation Bonds, Series 2024, 3.75% 9/1/2026 <sup>(a)</sup>  | 2035 | 2035 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2025-B, 5.00% 10/1/2035  | 16905 | 17426 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2025-G, 5.00% 10/1/2035  | 21725 | 23022 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2023-C, 5.50% 10/1/2054 (put 6/1/2032)  | 1000 | 1100 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2024-C, 5.00% 5/1/2055 (put 7/1/2031)  | 7065 | 7578 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2024-B, 5.00% 10/1/2055 (put 9/1/2032)  | 10940 | 11771 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2025-E, 5.00% 12/1/2055 (put 5/1/2035)  | 29085 | 31127 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds (BP P.L.C), Series 2024-D, 5.00% 3/1/2055 (put 11/1/2034)  | 7345 | 7858 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds (Project No. 7), Series 2021-C-1, 4.00% 10/1/2052 (put 12/1/2026)  | 1000 | 1004 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds (Project No. 8), Series 2022-A, 4.00% 12/1/2052 (put 12/1/2029)  | 4750 | 4863 |
| Black Belt Energy Gas Dist., Gas Project Rev. Ref. Bonds, Series 2025-D, 5.00% 12/1/2055 (put 8/1/2035)  | 7345 | 7890 |
| Black Belt Energy Gas Dist., Gas Supply Rev. Bonds, Series 2021-A, 4.00% 6/1/2051 (put 12/1/2031)  | 7500 | 7676 |
| Black Belt Energy Gas Dist., Gas Supply Rev. Bonds, Series 2022-F, 5.50% 11/1/2053 (put 12/1/2028)  | 750 | 787 |
| Black Belt Energy Gas Dist., Gas Supply Rev. Bonds, Series 2023-B, 5.25% 12/1/2053 (put 12/1/2026)  | 12285 | 13238 |
| Energy Southeast, Energy Supply Rev. Bonds (A Cooperative Dist.), Series 2025-B, 5.00% 9/1/2033  | 5515 | 5720 |
| Energy Southeast, Energy Supply Rev. Bonds (A Cooperative Dist.), Series 2025-A, 5.00% 11/1/2035  | 6625 | 7025 |
| Energy Southeast, Energy Supply Rev. Bonds (A Cooperative Dist.), Series 2023-A-1, 5.50% 11/1/2053 (put 1/1/2031)  | 2010 | 2197 |
| Energy Southeast, Energy Supply Rev. Bonds (A Cooperative Dist.), Series 2024-B, 5.25% 7/1/2054 (put 6/1/2032)  | 10655 | 11600 |
| City of Homewood, Educational Building Auth., Rev. Bonds (CHF - Horizons II, LLC, Student Housing & Parking Project <br> at Samford University), Series 2024-C, 5.50% 10/1/2049  | 2500 | 2534 |
| Housing Fin. Auth., Collateralized Single Family Mortgage Rev. Bonds, Series 2024-C, 5.75% 4/1/2055  | 4150 | 4522 |
| Housing Fin. Auth., Multi Family Housing Rev. Bonds (Cooper Green Homes Project), Series 2024-C, 5.00% 2/1/2029 <br> (put 2/1/2028)  | 260 | 270 |
| Housing Fin. Auth., Multi Family Housing Rev. Bonds (Fred Marshall Project), Series 2025-F, 3.15% 12/1/2028 (put <br> 6/1/2028)  | 265 | 265 |
| Housing Fin. Auth., Multi Family Housing Rev. Bonds (Providence Park Apartments Project), Series 2025-E, 3.15% <br> 7/1/2029 (put 7/1/2028)  | 430 | 431 |
| County of Jefferson, Sewer Rev. Warrants, Series 2024, 5.00% 10/1/2035  | 3010 | 3357 |
| County of Jefferson, Sewer Rev. Warrants, Series 2024, 5.00% 10/1/2039  | 6445 | 7005 |
| County of Jefferson, Sewer Rev. Warrants, Series 2024, 5.25% 10/1/2041  | 1925 | 2096 |
| County of Jefferson, Sewer Rev. Warrants, Series 2024, 5.25% 10/1/2044  | 655 | 695 |
| Lower Alabama Gas Dist., Gas Project Rev. Ref. Bonds, Series 2025-A, 5.00% 12/1/2033 (put 9/1/2033)  | 7455 | 7885 |
| County of Mobile Industrial Dev. Auth., Solid Waste Disposal Rev. Bonds (AM/NS Calvert, LLC Project), Series 2024-A, <br> AMT, 5.00% 6/1/2054  | 770 | 736 |
| County of Mobile Industrial Dev. Auth., Solid Waste Disposal Rev. Bonds (AM/NS Calvert, LLC Project), Series 2024-B, <br> AMT, 4.75% 12/1/2054  | 325 | 299 |
| City of Phenix, Industrial Dev. Board, Environmental Improvement Rev. Ref. Bonds (MeadWestvaco-Mead Coated <br> Board Project), Series 2012-A, AMT, 4.125% 5/15/2035  | 3000 | 2965 |
| City of Prattville, Industrial Dev. Board, Pollution Control Rev. Ref. Bonds (Union Camp Corp. Project), Series 1998, <br> 5.30% 9/1/2028  | 1250 | 1311 |
| City of Prattville, Industrial Dev. Board, Recovery Zone Fac. Rev. Ref. Bonds (International Paper Co. Project), Series <br> 2019-C, 3.45% 11/1/2033 (put 10/1/2031)  | 1500 | 1506 |
| Public Educational Building Auth. of Jacksonville, Higher Educational Facs. Rev. Bonds (JSU Foundation Project), Series <br> 2024-A, BAM, 5.00% 8/1/2036  | 1000 | 1119 |
| City of Selma, Industrial Dev. Board, Gulf Opportunity Zone Rev. Ref. Bonds (International Paper Co. Project), Series <br> 2020-A, 4.20% 5/1/2034  | 2305 | 2395 |
| South East Gas Supply Dist., Gas Supply Rev. Ref. Bonds (Project No. 2), Series 2024-B, 5.00% 6/1/2049 (put 5/1/2032)  | 10090 | 10832 |
| Southeast Energy Auth., Commodity Supply Rev. Bonds (Project No. 2), Series 2021-B-1, 4.00% 12/1/2051 (put <br> 12/1/2031)  | 2500 | 2527 |
| Southeast Energy Auth., Cooperative Dist. Energy Supply Rev. Bonds, Series 2025-D, 5.00% 9/1/2035  | 6000 | 6514 |
| Southeast Energy Auth., Cooperative Dist. Energy Supply Rev. Bonds, Series 2025-B, 5.25% 3/1/2055 (put 1/1/2033)  | 7880 | 8319 |
| Southeast Energy Auth., Cooperative Dist. Energy Supply Rev. Bonds, Series 2024-C, 5.00% 11/1/2055 (put <br> 11/1/2032)  | 16375 | 17701 |
| Southeast Energy Auth., Cooperative Dist. Energy Supply Rev. Bonds, Series 2025-A, 5.00% 1/1/2056 (put 6/1/2035)  | 6335 | 6605 |
| Southeast Energy Auth., Cooperative Dist., Gas Supply Rev. Bonds, Series 2025-F, 5.25% 11/1/2055 (put 11/1/2035)  | 5000 | 5502 |
| Stadium Trace Village Improvement Dist., Dev. Incentive Anticipation Bonds, Series 2021, 3.625% 3/1/2036  | 1045 | 961 |
|  |  | 272214 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **62** |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Alaska 0.21%** | **Alaska 0.21%** | **Alaska 0.21%** |
| Industrial Dev. and Export Auth., Power Rev. Ref. Bonds, Series 2015, AMT, 5.00% 1/1/2034  | USD<br> 1,400<br>| $1401 |
| International Airport System, Rev. Ref. Bonds, Series 2021-C, AMT, 5.00% 10/1/2026  | 1455 | 1478 |
| International Airport System, Rev. Ref. Bonds, Series 2025-A, 5.00% 10/1/2034  | 1510 | 1732 |
| City of Valdez, Marine Terminal Rev. Ref. Bonds (Exxon Pipeline Co. Project), Series 1993-B, 2.50% 12/1/2033 <sup>(b)</sup>  | 5500 | 5500 |
|  |  | 10111 |
| **Arizona 1.03%** | **Arizona 1.03%** | **Arizona 1.03%** |
| Agricultural Improvement and Power Dist., Electric System Rev. Bonds (Salt River Project), Series 2025-C, 5.00% <br> 1/1/2046  | 3000 | 3225 |
| City of Glendale, Senior Excise Tax Rev. and Ref. Ref. Obligations, Series 2024, 5.00% 7/1/2038  | 1250 | 1421 |
| Industrial Dev. Auth., Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2023-A, 5.00% 11/1/2028  | 950 | 993 |
| Industrial Dev. Auth., Charter School Social Rev. Bonds (Equitable School Revolving Fund), Series 2021-A, 4.00% <br> 11/1/2040  | 815 | 781 |
| Industrial Dev. Auth., Education Fac. Rev. Bonds (KIPP NYC Public Charter Schools - Macombs Fac. Project), Series <br> 2021-A, 4.00% 7/1/2036  | 310 | 302 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2019, 4.00% 7/1/2029 <sup>(a)</sup>  | 140 | 139 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2018-A, 5.00% 7/1/2048  | 750 | 738 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2025-A, 4.875% 7/1/2060 <br> (put 7/1/2035) <sup>(a)</sup>  | 340 | 339 |
| Industrial Dev. Auth., Education Rev. Bonds (Pinecrest Academy of Northern Nevada Project), Series 2022-A, 4.50% <br> 7/15/2029 <sup>(a)</sup>  | 1500 | 1460 |
| Industrial Dev. Auth., Education Rev. Bonds (Somerset Academy of Las Vegas - Aliante and Skye Canyon Campus <br> Projects), Series 2021-A, 3.00% 12/15/2031 <sup>(a)</sup>  | 185 | 175 |
| Industrial Dev. Auth., Education Rev. Ref. Bonds (Doral Academy of Northern Nevada Project), Series 2021-A, 4.00% <br> 7/15/2029 <sup>(a)</sup>  | 200 | 201 |
| Industrial Dev. Auth., Education Rev. Ref. Bonds (Doral Academy of Northern Nevada Project), Series 2021-A, 4.00% <br> 7/15/2030 <sup>(a)</sup>  | 200 | 201 |
| Industrial Dev. Auth., Hospital Rev. Bonds (Phoenix Children's Hospital), Series 2020-A, 3.00% 2/1/2045  | 1000 | 788 |
| Industrial Dev. Auth., Multi Family Housing Bonds (The Ranches at Gunsmoke Project), Series 2024, 5.00% 3/1/2058 <br> (put 11/1/2026)  | 2190 | 2226 |
| Industrial Dev. Auth., Multi Family Housing Rev. Bonds (The Acacia At Youngtown Phase II Project), Series 2024, 5.00% <br> 11/1/2058 (put 7/1/2027)  | 3885 | 3962 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2021-B, <br> 3.50% 7/1/2044 <sup>(a)(c)</sup>  | 1000 | 790 |
| County of Maricopa, Industrial Dev. Auth., Hospital Rev. Ref. Bonds (Honor Health), Series 2024-D, 5.00% 12/1/2041  | 1000 | 1068 |
| County of Maricopa, Industrial Dev. Auth., Rev. Bonds (Banner Health), Series 2016-A, 5.00% 1/1/2038  | 1750 | 1779 |
| County of Maricopa, Industrial Dev. Auth., Rev. Bonds (Verrado Marketplace Project), Series 2025, 4.375% 5/1/2033 <sup>(a)</sup>  | 1000 | 984 |
| County of Maricopa, Pollution Control Rev. Ref. Bonds (El Paso Electric Co. Palo Verde Project), Series 2009-A, 3.60% <br> 2/1/2040  | 750 | 703 |
| Maricopa County Pollution Control Corp., Pollution Control Rev. Ref. Bonds (Palo Verde Project), Series 2009-B, 3.60% <br> 4/1/2040  | 2140 | 2006 |
| Maricopa County Pollution Control Corp., Pollution Control Rev. Ref. Bonds (Southern California Edison Co.), Series <br> 2000-A, 2.40% 6/1/2035  | 4525 | 3871 |
| Maricopa County Pollution Control Corp., Pollution Control Rev. Ref. Bonds (Southern California Edison Co.), Series <br> 2000-B, 2.40% 6/1/2035  | 5845 | 5000 |
| City of Phoenix, Civic Improvement Corp., Airport Rev. Bonds, Series 2019-B, AMT, 5.00% 7/1/2026  | 3500 | 3536 |
| Phoenix Union High School Dist. No. 210, Improvement Bonds (Project of 2023), Series 2025-B, 5.00% 7/1/2029  | 1400 | 1521 |
| City of Phoenix Civic Improvement Corp., Wastewater System Rev. Ref. Bonds, Series 2016, 5.00% 7/1/2028  | 1035 | 1048 |
| City of Sierra Vista, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy Project), Series <br> 2024, 5.00% 6/15/2034 <sup>(a)</sup>  | 2310 | 2372 |
| City of Sierra Vista, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy Project), Series <br> 2024, 5.00% 6/15/2044 <sup>(a)</sup>  | 1500 | 1425 |
| City of Sierra Vista, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy Project), Series <br> 2024, 5.00% 6/15/2054 <sup>(a)</sup>  | 1000 | 899 |
| Board of Regents of the Arizona State University System, Rev. Bonds, Series 2024-A, 5.00% 8/1/2042  | 1000 | 1077 |
| Board of Regents of the Arizona State University System, Rev. Green Bonds, Series 2019-A, 5.00% 7/1/2038  | 1200 | 1270 |
| Transportation Board, Highway Rev. and Rev. Ref. Bonds, Series 2023, 5.00% 7/1/2026  | 1000 | 1013 |
| Board of Regents of the University of Arizona, System Rev. and Rev. Ref. Bonds, Series 2021-A, 5.00% 6/1/2043  | 1000 | 1046 |
| Board of Regents of the University of Arizona, System Rev. Bonds, Series 2019-A, 5.00% 6/1/2042  | 1000 | 1034 |
|  |  | 49393 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **63** | Capital Group Fixed Income ETF Trust |

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Capital Group Municipal Income ETF (continued)

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| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Arkansas 0.41%** | **Arkansas 0.41%** | **Arkansas 0.41%** |
| Dev. Fin. Auth., Industrial Dev. Rev. Bonds (Big River Steel Project), Series 2019, AMT, 4.50% 9/1/2049 <sup>(a)</sup>  | USD<br> 7,695<br>| $7482 |
| Dev. Fin. Auth., Industrial Dev. Rev. Green Bonds (Big River Steel Project), Series 2020, AMT, 4.75% 9/1/2049 <sup>(a)</sup>  | 770 | 754 |
| Dev. Fin. Auth., Resource Recovery Rev. Bonds (Weyerhaeuser Co. Project), Series 2025, AMT, 3.875% 10/15/2067 (put <br> 10/15/2032)  | 2460 | 2464 |
| Dev. Fin. Auth., Single Family Mortgage Rev. Bonds (Mortgage-Backed Securities/Mortgage Loans Program), Series <br> 2025-B, AMT, 5.50% 1/1/2056  | 8250 | 8967 |
|  |  | 19667 |
| **California 8.78%** | **California 8.78%** | **California 8.78%** |
| Trustees of the California State University, Systemwide Rev. Bonds, Series 2025-A, 5.00% 11/1/2045  | 3500 | 3823 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2025-G, 5.00% 12/1/2035  | 16950 | 18614 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2021-B-1, 4.00% 2/1/2052 (put <br> 8/1/2031)  | 4000 | 4059 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2023-E-1, 5.00% 2/1/2054 (put <br> 3/1/2031)  | 850 | 905 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-A, 5.00% 5/1/2054 (put <br> 4/1/2032)  | 3500 | 3753 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2023-F, 5.50% 10/1/2054 (put <br> 11/1/2030)  | 640 | 699 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2023-G, 5.25% 11/1/2054 (put <br> 4/1/2030)  | 1000 | 1063 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-B, 5.00% 1/1/2055 (put <br> 12/1/2032)  | 2900 | 3024 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-E, 5.00% 2/1/2055 (put <br> 9/1/2032)  | 3815 | 4095 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-F, 5.00% 2/1/2055 (put <br> 11/1/2032)  | 4730 | 5117 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-C, 5.00% 8/1/2055 (put <br> 10/1/2032)  | 6765 | 7171 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-G, 5.00% 11/1/2055 (put <br> 8/1/2032)  | 6250 | 6507 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2025-C, 5.00% 12/1/2055 (put <br> 10/1/2033)  | 9420 | 10005 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2025-A, 5.00% 1/1/2056 (put <br> 5/1/2035)  | 1650 | 1740 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2025-B, 5.00% 3/1/2056 (put <br> 11/1/2035)  | 7115 | 7750 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2025-E, 5.00% 10/1/2056 (put <br> 5/1/2035)  | 9885 | 10787 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Acacia on Santa Rosa Creek), Series <br> 2021-B, 4.00% 10/1/2046 <sup>(a)</sup>  | 1000 | 807 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Millennium South Bay - Hawthorne), <br> Series 2021-A-1, 3.375% 7/1/2043 <sup>(a)</sup>  | 450 | 370 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Parallel-Anaheim), Series 2021-A, 4.00% <br> 8/1/2056 <sup>(a)</sup>  | 2640 | 2363 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Pasadena Portfolio), Series 2021-A-1, <br> 2.65% 12/1/2046 <sup>(a)</sup>  | 975 | 817 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Union South Bay), Series 2021-A-1, <br> 3.10% 7/1/2045 <sup>(a)</sup>  | 500 | 426 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Westgate Phase 1 - Pasadena), Series <br> 2021-A-1, 3.00% 6/1/2047 <sup>(a)</sup>  | 600 | 421 |
| Davis Joint Unified School Dist., GO Bonds, 2018 Election, Series 2020, BAM, 3.00% 8/1/2034  | 750 | 748 |
| East County Advanced Water Purification JT Powers Auth. Green Bonds, Series 2024-A-1, 3.125% 9/1/2026  | 5000 | 5010 |
| Educational Facs. Auth., Rev. Bonds (Saint Mary's College of California), Series 2023-A, 5.00% 10/1/2038  | 525 | 535 |
| Escondido Union High School Dist., GO Bonds, CAB, 2008 Election, Series 2009-A, AGI, 0% 8/1/2028  | 500 | 467 |
| City of Fairfield, Community Facs. Dist. No. 2023-1 (One Lake Planning Area 5), Improvement Area No. 1, Special Tax <br> Bonds, Series 2024-A, 5.00% 9/1/2039  | 3885 | 4143 |
| City of Fontana, Community Facs. Dist. No. 109 (Narra Hills), Special Tax Bonds, Series 2024, 5.00% 9/1/2029  | 500 | 531 |
| City of Fontana, Community Facs. Dist. No. 109 (Narra Hills), Special Tax Bonds, Series 2024, 5.00% 9/1/2031  | 495 | 536 |
| Foothill/Eastern Transportation Corridor Agcy., Toll Road Rev. Ref. Bonds, Series 2013-A, 6.125% 1/15/2028  | 3000 | 3225 |
| Fremont Unified School Dist., GO Bonds, 2014 Election, Series 2021-D, 3.00% 8/1/2033  | 1600 | 1605 |
| Glendale Community College Dist., GO Bonds, CAB, 2016 Election, Series 2020-B, 0% 8/1/2041  | 2150 | 1122 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **64** |

---

------

Capital Group Municipal Income ETF (continued)

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| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **California (continued)** | **California (continued)** | **California (continued)** |
| Glendale Community College Dist., GO Rev. Ref. Bonds, CAB, 2016 Election, Series 2020-B, 0% 8/1/2032  | USD<br> 500<br>| $407 |
| Glendale Community College Dist., GO Rev. Ref. Bonds, CAB, 2016 Election, Series 2020-B, 0% 8/1/2036  | 1000 | 686 |
| GO Rev. Ref. Bonds, Series 2021, 5.00% 12/1/2028  | 5110 | 5501 |
| GO Rev. Ref. Bonds, Series 2019, 3.00% 10/1/2037  | 1440 | 1381 |
| Grossmont Union High School Dist., GO Bonds, CAB, 2004 Election, Series 2008, 0% 8/1/2032  | 4000 | 3302 |
| Health Facs. Fncg. Auth., Rev. Bonds (Cedars-Sinai Medical Center), Series 2021-A, 3.00% 8/15/2051  | 500 | 362 |
| Health Facs. Fncg. Auth., Rev. Bonds (Children's Hospital of Orange County), Series 2021-A, 3.00% 11/1/2038  | 635 | 605 |
| Health Facs. Fncg. Auth., Rev. Bonds (Episcopal Communities & Services), Series 2024-B, 5.00% 11/15/2038  | 430 | 463 |
| Housing Fin. Agcy., Municipal Certs., Series 2019-1, Class A, 4.25% 1/15/2035  | 2245 | 2323 |
| Housing Fin. Agcy., Municipal Certs., Series 2021-A-1, 3.50% 11/20/2035  | 1851 | 1835 |
| Housing Fin. Agcy., Municipal Certs., Series 2021-A-3, 3.25% 8/20/2036  | 6051 | 5806 |
| Housing Fin. Agcy., Municipal Certs., Series 2023-1, Class A, 4.375% 9/20/2036  | 2732 | 2834 |
| Infrastructure and Econ. Dev. Bank, Rev. Bonds (Brightline West Passenger Rail Project), Series 2025, AMT, 3.50% <br> 1/1/2065 (put 11/2/2026) <sup>(a)</sup>  | 13500 | 13500 |
| Infrastructure and Econ. Dev. Bank, Rev. Bonds (WFCS Portfolio Projects), Series 2021-A-1, 5.00% 1/1/2056 <sup>(a)</sup>  | 250 | 215 |
| Inglewood Unified School Dist., GO Bonds, 2020 Election, Series 2025-B, 5.50% 8/1/2041  | 710 | 831 |
| Inglewood Unified School Dist., GO Bonds, 2020 Election, Series 2025-B, 5.50% 8/1/2042  | 320 | 370 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2019-A, 5.00% 9/1/2035  | 1245 | 1312 |
| City of Jurupa, Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2020-A, BAM, 4.00% 9/1/2031  | 1890 | 2021 |
| Lammersville Joint Unified School Dist., Community Facs. Dist. No. 2024-1 (Mountain House School Facs.), Special Tax <br> Bonds, Series 2025, 5.00% 9/1/2040  | 385 | 407 |
| Lammersville Joint Unified School Dist., Community Facs. Dist. No. 2024-1 (Mountain House School Facs.), Special Tax <br> Bonds, Series 2025, 5.00% 9/1/2045  | 800 | 819 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. and Rev. Ref. Green Bonds, Series <br> 2025-D, 5.00% 5/15/2042  | 2500 | 2823 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2019-D, AMT, 5.00% <br> 5/15/2026  | 495 | 499 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2018-A, AMT, 5.00% <br> 5/15/2037  | 1000 | 1034 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2019-F, AMT, 5.00% <br> 5/15/2039  | 1000 | 1040 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Ref. Green Bonds, Series 2025-A, AMT, <br> 5.00% 5/15/2034  | 1000 | 1139 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2025-C, 5.00% 7/1/2030  | 1745 | 1900 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2023-E, 5.00% 7/1/2032  | 640 | 724 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2021-C, 5.00% 7/1/2033  | 840 | 930 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2024-C, 5.00% 7/1/2033  | 1220 | 1393 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2024-E, 5.00% 7/1/2035  | 615 | 707 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-A, 5.00% 7/1/2036  | 690 | 756 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2023-E, 5.00% 7/1/2036  | 1730 | 1950 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2024-A, 5.00% 7/1/2036  | 1010 | 1146 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2024-B, 5.00% 7/1/2036  | 4550 | 5162 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2025-C, 5.00% 7/1/2036  | 7245 | 8377 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2024-B, 5.00% 7/1/2037  | 4155 | 4678 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2023-B, 5.00% 7/1/2037  | 1120 | 1245 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2025-C, 5.00% 7/1/2037  | 13685 | 15683 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2024-B, 5.00% 7/1/2038  | 6440 | 7212 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2021-C, 5.00% 7/1/2039  | 1480 | 1600 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2024-C, 5.00% 7/1/2039  | 1130 | 1259 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-C, 5.00% 7/1/2041  | 1265 | 1351 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2025-A, BAM, 5.00% 7/1/2041  | 625 | 688 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-C, 5.00% 7/1/2042  | 1150 | 1218 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2024-B, 5.00% 7/1/2042  | 1000 | 1080 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2025-A, BAM, 5.00% 7/1/2042  | 275 | 299 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2024-E, 5.00% 7/1/2048  | 1000 | 1042 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-B, 5.00% 7/1/2052  | 500 | 513 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2023-E, 5.00% 7/1/2053  | 500 | 514 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2023-1-A, 5.25% 7/1/2053  | 550 | 580 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2025-A, 5.00% 1/1/2030  | 1955 | 2104 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2025-B, 5.00% 7/1/2033  | 1290 | 1473 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2023-A, 5.00% 7/1/2034  | 500 | 569 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2025-B, 5.00% 7/1/2034  | 245 | 283 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2023-A, 5.00% 7/1/2036  | 730 | 823 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **65** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **California (continued)** | **California (continued)** | **California (continued)** |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2023-A, 5.00% 7/1/2037  | USD<br> 840<br>| $940 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2022-B, 5.00% 7/1/2039  | 2305 | 2508 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2023-A, 5.00% 7/1/2039  | 500 | 554 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2024-B, 5.00% 7/1/2039  | 1040 | 1165 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2022-B, 5.00% 7/1/2047  | 500 | 516 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2023-A, 5.25% 7/1/2053  | 500 | 522 |
| City of Los Angeles, Harbor Dept., Rev. Ref. Green Bonds, Series 2024-A-2, AMT, 5.00% 8/1/2037  | 360 | 403 |
| County of Los Angeles, Community Facs. Dist. No. 2021-01 (Valencia Facs.), Improvement Area No. 2, Special Tax <br> Bonds, Series 2024, 5.00% 9/1/2034  | 400 | 437 |
| City of Manteca, Community Facs. Dist. No. 2023-1, Improvement Area No. 3, Special Tax Bonds, Series 2025, 5.00% <br> 9/1/2040  | 500 | 529 |
| Monrovia Unified School Dist., GO Bonds, CAB, 1997 Election, Series 2001-B, NATL, 0% 8/1/2032  | 750 | 620 |
| Municipal Fin. Auth., Community Facs. Dist. No. 2021-9 (County of Placer - Bickford Ranch), Improvement Area No. 1, <br> Special Tax Bonds, Series 2025, 5.00% 9/1/2045  | 1130 | 1148 |
| Municipal Fin. Auth., Educational Rev. Bonds (American Heritage Education Foundation Project), Series 2016-A, 5.00% <br> 6/1/2036  | 180 | 181 |
| Municipal Fin. Auth., Multi Family Housing Rev. Bonds (Gibson Drive Apartments Project), Series 2024-B, 3.75% <br> 6/1/2028 (put 6/1/2027)  | 140 | 142 |
| Municipal Fin. Auth., Municipal Certs., Series 2025-2, 4.217% 11/20/2040 <sup>(b)</sup>  | 1473 | 1476 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Biola University), Series 2017, 5.00% 10/1/2030  | 500 | 515 |
| Municipal Fin. Auth., Rev. Ref. Bonds (HumanGood Obligated Group), Series 2019-A, 4.00% 10/1/2033  | 2350 | 2360 |
| Municipal Fin. Auth., Rev. Ref. Bonds (HumanGood Obligated Group), Series 2019-A, 5.00% 10/1/2044  | 1200 | 1203 |
| Municipal Fin. Auth., School Fac. Rev. Bonds (St. Mary's School - Aliso Viejo), Series 2024-B, 4.65% 5/1/2030  | 100 | 102 |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Republic Services, Inc. Project), Series 2023-A, AMT, 4.375% <br> 9/1/2053 (put 9/1/2033)  | 1250 | 1301 |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Republic Services, Inc. Project), Series 2024-A, AMT, 3.875% <br> 3/1/2054 (put 3/1/2034)  | 5000 | 5009 |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2022-A, AMT, 4.125% <br> 10/1/2041 (put 10/2/2028)  | 2065 | 2072 |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2019-A, AMT, 2.40% <br> 10/1/2044 (put 10/1/2029)  | 2235 | 2163 |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2024-A, AMT, 3.45% <br> 11/1/2046 (put 3/2/2026)  | 6150 | 6150 |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2024-B, AMT, 3.375% <br> 9/1/2050 (put 9/1/2028)  | 1750 | 1741 |
| Municipal Fin. Auth., Special Fac. Rev. Bonds (United Airlines, Inc. Los Angeles International Airport Project), Series <br> 2019, AMT, 4.00% 7/15/2029  | 2000 | 2010 |
| Municipal Fin. Auth., Special Tax Rev. Bonds (Bold Program), Series 2024-D, 5.00% 9/1/2039  | 1000 | 1051 |
| Murrieta Valley Unified School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, 5.00% 9/1/2026  | 1795 | 1819 |
| Napa Valley Community College Dist., GO Bonds, CAB, 2002 Election, Series 2005-B, NATL, 0% 8/1/2026  | 3755 | 3700 |
| National Fin. Auth., Municipal Certs., Series 2024-4, Class A-CA, 3.81% 7/20/2039 <sup>(b)</sup>  | 6907 | 6756 |
| Newport-Mesa Unified School Dist., GO Bonds, CAB, 2005 Election, Series 2011, 0% 8/1/2033  | 700 | 568 |
| Northern California Energy Auth. Commodity Supply Rev. Ref. Bonds, Series 2024, 5.00% 12/1/2054 (put 8/1/2030)  | 3000 | 3199 |
| Oakland Unified School Dist., GO Bonds, 2012 Election, Series 2019-A, AGI, 4.00% 8/1/2034  | 1000 | 1015 |
| County of Orange, Community Facs. Dist. No. 2023-1 (Rienda Phase 2B), Special Tax Bonds, Series 2023-A, 5.00% <br> 8/15/2038  | 450 | 484 |
| Palo Alto Unified School Dist., GO Bonds, CAB, 2008 Election, Series 2008, 0% 8/1/2032  | 3000 | 2537 |
| City of Paso Robles, Community Facs. Dist. No. 2002-1N (Olsen/South Chandler Ranch Facs.), Improvement Area No. <br> 1, Special Tax Bonds, Series 2025-A, 5.00% 9/1/2041  | 1140 | 1172 |
| Public Fin. Auth., Senior Living Rev. Bonds (The James), Series 2024-A, 5.875% 6/1/2039 <sup>(a)</sup>  | 2335 | 2368 |
| Public Works Board, Lease Rev. Bonds (Dept. of General Services, May Lee State Office Complex), Series 2024-A, <br> 5.00% 4/1/2041  | 820 | 913 |
| Public Works Board, Lease Rev. Bonds (Various Capital Projects), Series 2025-C, 5.00% 11/1/2042  | 1500 | 1679 |
| Public Works Board, Lease Rev. Ref. Bonds (Various Capital Projects), Series 2024-C, 5.00% 9/1/2027  | 1065 | 1112 |
| Public Works Board, Lease Rev. Ref. Bonds (Various Capital Projects), Series 2021-B, 4.00% 5/1/2041  | 1405 | 1422 |
| Rialto Unified School Dist., GO Bonds, 2022 Election, Series 2023, BAM, 0% 8/1/2028  | 115 | 107 |
| Rialto Unified School Dist., GO Bonds, 2022 Election, Series 2023, BAM, 0% 8/1/2029  | 140 | 126 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2023-1 (Public Facs.), Special Tax Bonds, Series 2025, <br> 4.50% 9/1/2040  | 1335 | 1344 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2023-1 (Public Facs.), Special Tax Bonds, Series 2024, <br> 4.50% 9/1/2044  | 215 | 207 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2023-1 (Public Facs.), Special Tax Bonds, Series 2025, <br> 4.75% 9/1/2045  | 1415 | 1400 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **66** |

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------

Capital Group Municipal Income ETF (continued)

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| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **California (continued)** | **California (continued)** | **California (continued)** |
| City of Roseville, Creekview Community Facs. Dist. No. 1 (Public Facs.) Improvement Area No. 2, Special Tax Bonds, <br> Series 2024, 5.00% 9/1/2044  | USD<br> 1,420<br>| $1449 |
| Rowland Unified School Dist., GO Bonds, CAB, 2006 Election, Series 2009-B, 0% 8/1/2034  | 500 | 368 |
| City of Sacramento, Community Drainage Facs. Dist. No. 97-1 (North Natomas), Special Tax Bonds, Series 2015, 5.00% <br> 9/1/2028  | 1000 | 1004 |
| City of Sacramento, Community Drainage Facs. Dist. No. 97-1 (North Natomas), Special Tax Bonds, Series 2015, 5.00% <br> 9/1/2035  | 2250 | 2259 |
| City of Sacramento, Community Facs. Dist. No. 2018-03 (Greenbriar), Improvement Area No. 2, Special Tax Bonds, <br> Series 2024, 5.00% 9/1/2032  | 1070 | 1156 |
| City of Sacramento, Community Facs. Dist. No. 2018-03 (Greenbriar), Improvement Area No. 2, Special Tax Bonds, <br> Series 2024, 5.00% 9/1/2034  | 515 | 562 |
| City of Sacramento, Community Facs. Dist. No. 2019-01 (Delta Shores), Improvement Area No. 1, Special Tax Bonds, <br> Series 2024, 5.00% 9/1/2040  | 1920 | 2035 |
| County of Sacramento, Airport System Rev. Bonds, Series 2025-A, AMT, 5.00% 7/1/2035  | 5645 | 6399 |
| County of Sacramento, Community Facs. Dist. No. 2005-2 (North Vineyard Station No. 1), Special Tax Bonds, Series <br> 2016, 5.00% 9/1/2045  | 2000 | 2005 |
| Sacramento Unified School Dist., GO Bonds, 2020 Election, Series 2025-A, AGI, 5.00% 8/1/2050  | 3325 | 3498 |
| Sacramento Unified School Dist., GO Bonds, 2020 Election, Series 2025-C, AGI, 5.00% 8/1/2050  | 4030 | 4239 |
| Sacramento Unified School Dist., GO Bonds, 2020 Election, Series 2025-C, AGI, 5.00% 8/1/2054  | 2000 | 2092 |
| San Diego Community College Dist., GO Bonds, CAB, 2002 Election, Series 2011, 0% 8/1/2038  | 3510 | 2284 |
| San Diego Unified School Dist., GO Dedicated Unlimited Ad Valorem Property Tax Bonds, CAB, 2008 Election, Series <br> 2012-E, 0% 7/1/2034  | 750 | 577 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Ref. Bonds, Series <br> 2023-C, AMT, 5.00% 5/1/2033  | 1030 | 1159 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Ref. Bonds, Series <br> 2021-A-2, AMT, 5.00% 5/1/2036  | 6985 | 7529 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Ref. Bonds, Series <br> 2024-A-2, AMT, 5.00% 5/1/2036  | 3660 | 4085 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Ref. Bonds, Series <br> 2019-A-2, AMT, 5.00% 5/1/2044  | 500 | 508 |
| City and County of San Francisco, Community Facs. Dist. No. 2016-1 (Treasure Island), Improvement Area No. 2, <br> Special Tax Bonds, Series 2023-A, 5.00% 9/1/2033 <sup>(a)</sup>  | 795 | 866 |
| City and County of San Francisco, Community Facs. Dist. No. 2016-1 (Treasure Island), Improvement Area No. 2, <br> Special Tax Bonds, Series 2023-A, 5.00% 9/1/2038 <sup>(a)</sup>  | 710 | 759 |
| City and County of San Francisco, Public Utilities Commission, San Francisco Water Rev. Bonds, Series 2025-F, 5.00% <br> 11/1/2040  | 555 | 681 |
| City and County of San Francisco, Special Tax Dist. No. 2020-1 (Mission Rock Facs. and Services), Shoreline Special Tax <br> Bonds, Series 2023-C, 5.25% 9/1/2038 <sup>(a)</sup>  | 875 | 943 |
| San Jacinto Unified School Dist., GO Bonds, 2016 Election, Series 2022, 4.00% 8/1/2043  | 1105 | 1113 |
| City of San Jose, Airport Rev. Ref. Bonds, Series 2017-A, AMT, 5.00% 3/1/2041  | 1500 | 1510 |
| City of San Jose, Multi Family Housing Rev. Bonds (Parkmoor), Series 2023-F-2, 5.00% 6/1/2027 (put 6/1/2026)  | 215 | 217 |
| San Mateo Community College Dist., GO Bonds, CAB, 2005 Election, Series 2006-B, NATL, 0% 9/1/2031  | 7500 | 6442 |
| Southern California Public Power Auth., Ref. Rev. Bonds (Apex Power Project), Series 2024-A, 5.00% 7/1/2033  | 500 | 577 |
| Southern California Public Power Auth., Ref. Rev. Bonds (Apex Power Project), Series 2024-A, 5.00% 7/1/2034  | 4000 | 4646 |
| Southern California Public Power Auth., Rev. Bonds (Southern Transmission System Renewal Project), Series 2025-1, <br> BAM, 5.25% 7/1/2045  | 385 | 418 |
| Southern California Public Power Auth., Rev. Bonds (Southern Transmission System Renewal Project), Series 2024-1, <br> 5.00% 7/1/2053  | 750 | 782 |
| Southern California Public Power Auth., Rev. Ref. Bonds (Milford Wind Corridor Phase I Project), Series 2019-1, 5.00% <br> 7/1/2029  | 520 | 563 |
| Statewide Communities Dev. Auth., Multi Family Housing Rev. Bonds (Vintage at Folsom), Series 2024-E-2, 5.00% <br> 10/1/2028 (put 10/1/2027)  | 55 | 57 |
| Statewide Communities Dev. Auth., Rev. Bonds (Kaiser Foundation Hospitals), Series 2025-B, 5.00% 10/1/2032 <sup>(a)</sup>  | 7000 | 8048 |
| Statewide Communities Dev. Auth., Rev. Bonds (Kaiser Foundation Hospitals), Series 2025-B, 5.00% 10/1/2035 <sup>(a)</sup>  | 7200 | 8460 |
| Statewide Communities Dev. Auth., Student Housing Rev. Ref. Bonds (CHF-Irvine, LLC - University of California, Irvine <br> East Campus Apartments, Phase I Ref. and Phase IV-B), Series 2021, BAM, 5.00% 5/15/2027  | 500 | 514 |
| Stockton Unified School Dist., GO Bonds, 2018 Election, Series 2021-B, AGI, 4.00% 8/1/2040  | 2225 | 2280 |
| Stockton Unified School Dist., GO Bonds, CAB, 2008 Election, Series 2011-D, AGI, 0% 8/1/2033  | 1000 | 800 |
| Tejon Ranch Public Facs. Fncg. Auth., Community Facs. Dist. No. 2008-1, Special Tax Rev. Ref. Bonds (Tejon Ranch <br> Industrial Complex Public Improvements - East), Series 2024-A, 5.00% 9/1/2042  | 845 | 884 |
| Township of Washington, Health Care Dist., GO Bonds, 2020 Election, Series 2013-A, 5.00% 8/1/2043  | 5125 | 5126 |
| Regents of the University of California, General Rev. Bonds, Series 2025-CD, 5.00% 5/15/2030  | 3920 | 4372 |
| Regents of the University of California, General Rev. Bonds, Series 2024-BV, 5.00% 5/15/2035  | 1250 | 1471 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **67** | Capital Group Fixed Income ETF Trust |

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------

Capital Group Municipal Income ETF (continued)

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| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **California (continued)** | **California (continued)** | **California (continued)** |
| Regents of the University of California, General Rev. Bonds, Series 2025-CD, 5.00% 5/15/2040  | USD<br> 1,330<br>| $1521 |
| Regents of the University of California, General Rev. Bonds, Series 2025-CD, 5.25% 5/15/2040  | 2685 | 3285 |
| Regents of the University of California, General Rev. Bonds, Series 2025-CD, 5.50% 5/15/2040  | 1400 | 1662 |
| Various Purpose GO Bonds, Series 2025, 5.00% 10/1/2031  | 2500 | 2856 |
| Various Purpose GO Bonds, Series 2025, 5.00% 8/1/2039  | 1485 | 1723 |
| Various Purpose GO Bonds, Series 2025, 5.00% 3/1/2042  | 2000 | 2235 |
| Various Purpose GO Bonds, Series 2025, 5.00% 8/1/2042  | 2735 | 3069 |
| Various Purpose GO Rev. Ref. Bonds, Series 2024, 5.00% 9/1/2028  | 1000 | 1070 |
| Various Purpose GO Rev. Ref. Bonds, Series 2024, 5.00% 8/1/2032  | 5650 | 6545 |
| Various Purpose GO Rev. Ref. Bonds, Series 2025, 5.00% 3/1/2035  | 1000 | 1196 |
| West Contra Costa Unified School Dist., GO Rev. Ref. Bonds, CAB, Series 2010-D-2, AGI, 0% 8/1/2036  | 1995 | 1397 |
| Whittier Union High School Dist., GO Rev. Ref. Bonds, CAB, Series 2016, 0% 8/1/2032  | 750 | 598 |
|  |  | 421652 |
| **Colorado 2.98%** | **Colorado 2.98%** | **Colorado 2.98%** |
| County of Adams, Buffalo Highlands Metropolitan Dist., Limited Tax GO Rev. Ref. and Improvement Bonds, Series <br> 2018-A, 5.25% 12/1/2038  | 596 | 598 |
| County of Adams, Lakeridge Metropolitan Dist. No. 2, Rev. Ref. GO and Improvement Bonds, Series 2019, 5.25% <br> 12/1/2048  | 1359 | 1328 |
| County of Adams, The Village at Dry Creek Metropolitan Dist. No. 2, Limited Tax GO and Special Rev. Bonds, Series <br> 2019, 4.375% 12/1/2044  | 421 | 415 |
| Brickyard Metropolitan Dist. No. 1, GO Limited Tax and Special Rev. Bonds, Series 2025, 6.25% 12/1/2035  | 1000 | 1004 |
| Bridge and Tunnel Enterprise, Infrastructure Rev. Bonds, Series 2024-A, AGI, 5.00% 12/1/2041  | 750 | 828 |
| City of Brighton, Brighton Crossing Metropolitan Dist. No. 6, Limited Tax GO Bonds, Series 2020-A, 5.00% 12/1/2035  | 530 | 539 |
| City and County of Broomfield, Baseline Metropolitan Dist. No. 1, Special Rev. Ref. and Improvement Bonds, Series <br> 2024-A, AGI, 5.00% 12/1/2032  | 835 | 924 |
| City of Centennial, Southglenn Metropolitan Dist., Special Rev. Ref. Bonds, Series 2016, 5.00% 12/1/2030  | 1000 | 1001 |
| City of Centennial, Southglenn Metropolitan Dist., Special Rev. Ref. Bonds, Series 2016, 5.00% 12/1/2046  | 1457 | 1385 |
| Certs. of Part., Series 2018-A, 5.00% 12/15/2026  | 1870 | 1914 |
| Commerce City, Reunion Metropolitan Dist., Special Rev. Bonds, Series 2021-A, 3.625% 12/1/2044  | 684 | 507 |
| City and County of Denver, Airport System Rev. Bonds, Series 2022-A, AMT, 5.00% 11/15/2028  | 1250 | 1326 |
| City and County of Denver, Airport System Rev. Bonds, Series 2022-A, AMT, 5.00% 11/15/2033  | 12390 | 13779 |
| City and County of Denver, Broadway Park North Metropolitan Dist. No. 2, Limited Tax GO Rev. Ref. and Improvement <br> Bonds, Series 2020, 5.00% 12/1/2040 <sup>(a)</sup>  | 835 | 837 |
| City and County of Denver, Dept. of Aviation, Airport System Rev. Bonds, Series 2018-A, AMT, 5.00% 12/1/2030  | 1105 | 1207 |
| City and County of Denver, Dept. of Aviation, Airport System Rev. Bonds, Series 2018-A, AMT, 5.00% 12/1/2032  | 5000 | 5245 |
| City and County of Denver, Park Creek Metropolitan Dist., Limited Property Tax Supported Rev. Ref. and Improvement <br> Bonds, Series 2025, AGI, 5.00% 12/1/2035  | 845 | 945 |
| City and County of Denver, Park Creek Metropolitan Dist., Limited Property Tax Supported Rev. Ref. and Improvement <br> Bonds, Series 2025, AGI, 5.00% 12/1/2036  | 1200 | 1332 |
| County of Douglas, Crystal Crossing Metropolitan Dist., Limited Tax Rev. Ref. GO Bonds, Series 2016, 5.25% 12/1/2040  | 1545 | 1546 |
| E-470 Public Highway Auth., Rev. Bonds, Series 2024-A, 5.00% 9/1/2040  | 1395 | 1553 |
| E-470 Public Highway Auth., Rev. Bonds, CAB, Series 2004-A, NATL, 0% 9/1/2027  | 500 | 478 |
| County of Eagle, The Village Metropolitan Dist., Special Rev. and Limited Property Tax Rev. Ref. and Improvement <br> Bonds, Series 2020, 5.00% 12/1/2049  | 1750 | 1672 |
| Educational and Cultural Facs. Auth., Charter School Rev. Bonds (Ascent Classical Academy Charter Schools, Inc. <br> Project), Series 2024, 5.25% 4/1/2039 <sup>(a)</sup>  | 1500 | 1523 |
| Educational and Cultural Facs. Auth., Charter School Rev. Bonds (Ascent Classical Academy Charter Schools, Inc. <br> Project), Series 2024, 5.50% 4/1/2044 <sup>(a)</sup>  | 375 | 376 |
| County of Elbert, Elbert and Highway 86 Commercial Metropolitan Dist., Special Rev. and Tax Supported Rev. Ref. and <br> Improvement Bonds, Series 2021-A, 5.00% 12/1/2041 <sup>(a)</sup>  | 570 | 574 |
| County of Elbert, Independence Metropolitan Dist. No. 3, Limited Tax GO and Special Rev. Ref. and Improvement <br> Bonds, Series 2024-A, 5.375% 12/1/2054  | 2000 | 2002 |
| Town of Erie, Westerly Metropolitan Dist. No. 4, Limited Tax GO Bonds, Series 2021-A-1, 5.00% 12/1/2040  | 1875 | 1877 |
| Health Facs. Auth., Hospital Rev. Bonds (AdventHealth Obligated Group), Series 2025-A, 5.00% 11/15/2060 (put <br> 11/15/2030)  | 1410 | 1542 |
| Health Facs. Auth., Hospital Rev. Bonds (Adventist Health System/Sunbelt Obligated Group), Series 2016-A, 5.00% <br> 11/15/2041  | 6000 | 6023 |
| Health Facs. Auth., Rev. Bonds (CommonSpirit Health), Series 2019-A-2, 5.00% 8/1/2026  | 200 | 202 |
| Health Facs. Auth., Rev. Bonds (CommonSpirit Health), Series 2025-A, 5.00% 9/1/2029  | 5830 | 6251 |
| Health Facs. Auth., Rev. Bonds (CommonSpirit Health), Series 2025-A, 5.00% 9/1/2032  | 4050 | 4528 |
| Health Facs. Auth., Rev. Bonds (CommonSpirit Health), Series 2024-A, 5.00% 12/1/2034  | 8000 | 9103 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **68** |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Colorado (continued)** | **Colorado (continued)** | **Colorado (continued)** |
| Health Facs. Auth., Rev. Bonds (CommonSpirit Health), Series 2025-A, 5.00% 9/1/2035  | USD<br> 3,900<br>| $4450 |
| Health Facs. Auth., Rev. Bonds (CommonSpirit Health), Series 2019-A-1, 4.00% 8/1/2039  | 1095 | 1084 |
| Health Facs. Auth., Rev. Bonds (CommonSpirit Health), Series 2019-A-2, 5.00% 8/1/2039  | 2125 | 2212 |
| Health Facs. Auth., Rev. Bonds (Covenant Living Communities and Services), Series 2025-A, 5.00% 12/1/2034  | 825 | 904 |
| Health Facs. Auth., Rev. Bonds (Covenant Living Communities and Services), Series 2025-A, 5.00% 12/1/2035  | 750 | 818 |
| Health Facs. Auth., Rev. Bonds (Sanford), Series 2019-A, 4.00% 11/1/2039  | 2445 | 2447 |
| Health Facs. Auth., Rev. Ref. Bonds (Christian Living Neighborhoods Project), Series 2016, 5.00% 1/1/2031  | 500 | 500 |
| Health Facs. Auth., Rev. Ref. Bonds (Covenant Retirement Communities, Inc.), Series 2018-A, 5.00% 12/1/2043  | 6165 | 6210 |
| Health Facs. Auth., Rev. Ref. Bonds (Sisters of Charity of Leavenworth Health System), Series 2019-A, 4.00% 1/1/2037  | 5000 | 5082 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2019-C, Class I, 4.25% 5/1/2049  | 1590 | 1601 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2021-H, Class I, 3.00% 11/1/2051  | 3265 | 3211 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2021-L, Class I, 3.25% 11/1/2051  | 3985 | 3947 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2023-I, Class III, 6.00% 5/1/2053  | 7600 | 8292 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2023-O, Class III, 6.50% 5/1/2054  | 1035 | 1152 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2025-B, Class I, 5.75% 11/1/2054  | 5860 | 6468 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2025-J, Class III, 6.25% 5/1/2055  | 5040 | 5666 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2025-M, Class I, 6.25% 11/1/2055  | 2945 | 3294 |
| Town of Johnstown, Thompson Crossing Metropolitan Dist. No. 4, Limited Tax GO Rev. Ref. and Improvement Bonds <br> (Convertible to Unlimited Tax), Series 2019, 5.00% 12/1/2039  | 900 | 905 |
| Kinston Metropolitan Dist. No. 5, Limited Tax GO Rev. Ref. and Improvement Bonds, Series 2025-A, 5.00% <br>12/1/2035 <sup>(a)</sup>  | 1000 | 1042 |
| City of Lone Tree, Rampart Range Metropolitan Dist. No. 5, Limited Tax Supported and Special Rev. Bonds, Series <br> 2021, 4.00% 12/1/2036  | 750 | 715 |
| City of Lone Tree, Rampart Range Metropolitan Dist. No. 5, Limited Tax Supported and Special Rev. Bonds, Series <br> 2021, 4.00% 12/1/2051  | 4200 | 3377 |
| North Range Metropolitan Dist. No. 2, Limited Tax GO and Special Rev. Ref. and Improvement Bonds, Series 2017-A, <br> 5.625% 12/1/2037  | 625 | 625 |
| Regional Transportation Dist., Private Activity Bonds (Denver Transit Partners Eagle P3 Project), Series 2020-A, 4.00% <br> 7/15/2033  | 500 | 519 |
| Talon Pointe Metropolitan Dist., GO Rev. Ref. and Improvement Bonds, Series 2019-A, 5.25% 12/1/2039 <sup>(d)</sup>  | 950 | 753 |
| City of Thornton, Creekside Village Metropolitan Dist., Limited Tax GO Bonds, Series 2019-A, 5.00% 12/1/2039 <sup>(d)</sup>  | 500 | 494 |
| Timnath Lakes Metropolitan Dist. No. 1, GO Limited Tax Rev. Ref. and Improvement Bonds, Convertible CAB, Series <br> 2022-A, 3.375% 12/1/2052  | 1314 | 991 |
| Regents of the University of Colorado, University Enterprise Rev. Ref. Bonds, Series 2017-A-2, 4.00% 6/1/2039  | 1200 | 1211 |
| Regents of the University of Colorado, University Enterprise Rev. Ref. Bonds, Series 2017-A-2, 4.00% 6/1/2039 <br> (escrowed to maturity)  | 300 | 308 |
| Town of Windsor, Great Western Metropolitan Dist. No. 5, Limited Tax GO Rev. Ref. Bonds, Series 2020, 4.75% <br> 12/1/2050  | 500 | 442 |
|  |  | 143084 |
| **Connecticut 0.69%** | **Connecticut 0.69%** | **Connecticut 0.69%** |
| City of Bridgeport, Steel Point Infrastructure Improvement Dist., Special Obligation Rev. Bonds (Steelpointe Harbor <br> Project), Series 2021, 4.00% 4/1/2031 <sup>(a)</sup>  | 400 | 407 |
| Health and Educational Facs. Auth., Rev. Bonds (Connecticut Children's Medical Center Issue), Series 2023-E, 5.00% <br> 7/15/2038  | 555 | 605 |
| Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2013-A, 1.95% 7/1/2042 <sup>(b)</sup>  | 17785 | 17785 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2024-B, AMT, 4.125% <br> 11/15/2040  | 745 | 738 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2018-E-1, 4.25% 5/15/2042  | 165 | 166 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2022-A-1, 3.50% 11/15/2051  | 1555 | 1550 |
| Mohegan Tribe of Indians, Gaming Auth., Priority Distribution Payment Rev. Ref. Bonds, Series 2015-C, 6.25% <br>2/1/2030 <sup>(a)</sup>  | 1000 | 1001 |
| Mohegan Tribe of Indians, Gaming Auth., Priority Distribution Payment Rev. Ref. Bonds, Series 2015-A, 6.75% <br>2/1/2045 <sup>(a)</sup>  | 304 | 307 |
| Special Tax Obligation Bonds (Transportation Infrastructure Purposes), Series 2023-A, 5.00% 7/1/2031  | 1180 | 1331 |
| City of Stamford, Harbor Point Infrastructure Improvement Dist., Special Obligation Rev. Ref. Bonds (Harbor Point <br> Project), Series 2017, 5.00% 4/1/2039 <sup>(a)</sup>  | 1500 | 1520 |
| City of Stamford, Housing Auth. Rev Bonds (Mozaic Concierge Living Project), Series 2025-C, 4.75% 10/1/2032  | 3035 | 3137 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **69** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Connecticut (continued)** | **Connecticut (continued)** | **Connecticut (continued)** |
| City of Stamford, Housing Auth. Rev Bonds (Mozaic Concierge Living Project), Series 2025-B, 5.375% 10/1/2033  | USD<br> 2,465<br>| $2499 |
| City of Stamford, Housing Auth. Rev Bonds (Mozaic Concierge Living Project), Series 2025-A, 5.50% 10/1/2035  | 1000 | 1050 |
| City of Stamford, Housing Auth. Rev Bonds (Mozaic Concierge Living Project), Series 2025-A, 6.00% 10/1/2040  | 1000 | 1052 |
|  |  | 33148 |
| **Delaware 0.27%** | **Delaware 0.27%** | **Delaware 0.27%** |
| Econ. Dev. Auth., Charter School Rev. Bonds (First State Montessori Academy, Inc. Project), Series 2019-A, 4.00% <br> 8/1/2029  | 275 | 276 |
| Econ. Dev. Auth., Exempt Fac. Rev. Ref. Bonds (NRG Energy Project), Series 2020-A, 4.00% 10/1/2040 (put 10/1/2035)  | 4500 | 4513 |
| Econ. Dev. Auth., Exempt Fac. Rev. Ref. Bonds (NRG Energy Project), Series 2020-A, 4.00% 10/1/2045 (put 10/1/2035)  | 4935 | 4949 |
| Econ. Dev. Auth., Gas Facs. Rev. Ref. Bonds (Delmarva Power & Light Co. Project), Series 2020-A, 3.60% 1/1/2031  | 2145 | 2204 |
| GO Bonds, Series 2021, 2.00% 2/1/2036  | 1000 | 851 |
| GO Rev. Ref. Bonds, Series 2023-B, 5.00% 8/1/2026  | 150 | 152 |
|  |  | 12945 |
| **District of Columbia 1.11%** | **District of Columbia 1.11%** | **District of Columbia 1.11%** |
| GO Rev. Ref. Bonds, Series 2024-B, 5.00% 8/1/2034  | 3055 | 3579 |
| Hospital Rev. Ref. Bonds (Children's Hospital Obligated Group Issue), Series 2015, 5.00% 7/15/2044  | 1000 | 1000 |
| Housing Fin. Agcy., Collateralized Multi Family Housing Rev. Bonds (Belmont Crossing Phase II), Series 2025, 5.00% <br> 3/1/2029 (put 2/1/2028)  | 460 | 477 |
| Housing Fin. Agcy., Collateralized Multi Family Housing Rev. Bonds (The Edmonson), Series 2024, 5.00% 12/1/2028 <br> (put 12/1/2027)  | 1050 | 1090 |
| Housing Fin. Agcy., Multi Family Rev. Bonds, Series 2025-B, 3.15% 2/1/2030 (put 2/1/2029)  | 1000 | 1003 |
| Income Tax Secured Rev. Bonds, Series 2020-C, 5.00% 5/1/2037  | 1340 | 1445 |
| Income Tax Secured Rev. Ref. Bonds, Series 2019-C, 5.00% 10/1/2026  | 3455 | 3521 |
| Income Tax Secured Rev. Ref. Bonds, Series 2025-A, 5.00% 6/1/2041  | 4125 | 4592 |
| Income Tax Secured Rev. Ref. Bonds, Series 2025-A, 5.00% 6/1/2042  | 1640 | 1805 |
| Metropolitan Area Transit Auth., Dedicated Rev. Bonds, Series 2020-A, 4.00% 7/15/2040  | 750 | 755 |
| Metropolitan Area Transit Auth., Dedicated Rev. Bonds, Series 2020-A, 5.00% 7/15/2045  | 660 | 679 |
| Metropolitan Area Transit Auth., Dedicated Rev. Green Bonds, Series 2021-A, 4.00% 7/15/2034  | 1210 | 1269 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. and Rev. Ref. Bonds, Series 2019-A, AMT, 5.00% <br> 10/1/2028  | 5000 | 5290 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. and Rev. Ref. Bonds, Series 2025-A, AMT, 5.25% <br> 10/1/2041  | 1000 | 1108 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2020-B, AMT, 5.00% 10/1/2027  | 1910 | 1979 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2024-A, AMT, 5.00% 10/1/2030  | 1155 | 1260 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2020-A, AMT, 5.00% 10/1/2031  | 4270 | 4645 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2022-A, AMT, 5.00% 10/1/2031  | 720 | 796 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2016-A, AMT, 5.00% 10/1/2032  | 1015 | 1027 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2024-A, AMT, 5.00% 10/1/2033  | 6275 | 7077 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2016-A, AMT, 5.00% 10/1/2035  | 1000 | 1010 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2023-A, AMT, 5.25% 10/1/2043  | 1000 | 1058 |
| Rev. Bonds (Friendship Public Charter School, Inc. Issue), Series 2016-A, 5.00% 6/1/2041  | 1000 | 1001 |
| Water and Sewer Auth., Public Utility Rev. Ref. Bonds, Series 2024-A, 5.00% 10/1/2038  | 290 | 327 |
| Water and Sewer Auth., Public Utility Rev. Ref. Bonds, Series 2025-A, 5.00% 10/1/2043  | 2500 | 2714 |
| Water and Sewer Auth., Public Utility Sub Lien Rev. Ref. Bonds, Series 2014-C, 4.00% 10/1/2041  | 3045 | 3045 |
|  |  | 53552 |
| **Florida 4.44%** | **Florida 4.44%** | **Florida 4.44%** |
| County of Alachua, Health Facs. Auth., Health Facs. Rev. and Rev. Ref. Bonds, Series 2025-A, AGI, 5.00% 12/1/2035  | 1000 | 1138 |
| County of Alachua, Health Facs. Auth., Health Facs. Rev. Ref. Bonds, Series 2019-B-1, 5.00% 12/1/2031  | 1815 | 1937 |
| City of Atlantic Beach, Health Care Facs. Rev. Bonds (Fleet Landing Project), Series 2018-A, 5.00% 11/15/2030  | 435 | 448 |
| City of Atlantic Beach, Health Care Facs. Rev. Bonds (Fleet Landing Project), Series 2018-A, 5.00% 11/15/2031  | 460 | 474 |
| Balm Grove Community Dev. Dist., Special Assessment Bonds (Series 2022 Project), Series 2022, 4.00% 11/1/2042  | 1975 | 1804 |
| Braddock Lakes Community Dev. Dist., Capital Improvement Rev. Bonds, Series 2025, 4.50% 5/1/2035  | 1000 | 1003 |
| County of Broward, Housing Fin. Auth., Multi Family Housing Rev. Bonds (St. Joseph Manor II), Series 2023, 3.50% <br> 4/1/2041 (put 4/1/2026)  | 250 | 250 |
| County of Broward, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Tequesta Reserve), Series 2024, 3.15% <br> 3/1/2028 (put 3/1/2027)  | 865 | 866 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Renaissance Charter School), Series 2017-A, 4.375% 6/15/2027 <sup>(a)</sup>  | 180 | 180 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **70** |

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------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Florida (continued)** | **Florida (continued)** | **Florida (continued)** |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Viera Charter Schools, Inc. Project), Series 2017-A, 4.00% <br> 10/15/2029 <sup>(a)</sup>  | USD<br> 400<br>| $398 |
| Capital Trust Agcy., Senior Rev. Bonds (Educational Growth Fund, LLC Charter School Portfolio Projects), Series <br> 2021-A-1, 3.375% 7/1/2031 <sup>(a)</sup>  | 425 | 410 |
| Capital Trust Auth., Charter School Rev. Bonds (Mason Classical Academy Project), Series 2024-A, 5.00% 6/1/2039 <sup>(a)</sup>  | 2010 | 2011 |
| Capital Trust Auth., Educational Facs. Rev. and Rev. Ref. Bonds (Plato Academy Schools Project), Series 2024-A, 5.00% <br> 12/15/2044  | 950 | 908 |
| Capital Trust Auth., Health Care Facs. Rev. and Rev. Ref. Bonds (UF Health Projects), Series 2025-A, 5.00% 12/1/2032  | 4450 | 4990 |
| Capital Trust Auth., Health Care Facs. Rev. and Rev. Ref. Bonds (UF Health Projects), Series 2025-A, 5.00% 12/1/2035  | 1410 | 1607 |
| Central Florida Expressway Auth., Rev. Bonds, Series 2019-B, 5.00% 7/1/2030  | 1425 | 1540 |
| Counties of Charlotte and Lee, Babcock Ranch Community Independent Special Dist., Special Assessment Rev. Bonds, <br> Series 2024, 5.00% 5/1/2044 <sup>(a)</sup>  | 220 | 221 |
| County of Collier, Ave Maria Stewardship Community Dist., Capital Improvement Rev. Bonds, Series 2022, 4.00% <br> 5/1/2042  | 1445 | 1317 |
| County of Collier, Ave Maria Stewardship Community Dist., Capital Improvement Rev. Bonds (Ave Maria National <br> Project), Series 2021, 3.75% 5/1/2041  | 3565 | 3175 |
| Cypress Preserve Community Dev. Dist., Special Assessment Rev. Bonds (Assessment Area No. 2), Series 2019, 4.00% <br> 11/1/2039  | 325 | 305 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Cornerstone Classical Academy), Series 2024-A, 5.00% 6/1/2034 <sup>(a)</sup>  | 595 | 617 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Mater Academy Projects), Series 2020-A, 5.00% 6/15/2035  | 1000 | 1014 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Mater Academy Projects), Series 2022-A, 5.00% 6/15/2036  | 1325 | 1341 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Renaissance Charter School, Inc. Projects), Series 2023-A, 6.50% <br> 6/15/2038 <sup>(a)</sup>  | 1000 | 1076 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (Renaissance Charter School, Inc.), Series 2020-C, 5.00% 9/15/2040 <sup>(a)</sup>  | 375 | 362 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (Renaissance Charter School, Inc.), Series 2025, 6.00% 6/15/2045 <sup>(a)</sup>  | 2250 | 2334 |
| Dev. Fin. Corp., Solid Waste Disposal Rev. Bonds (GFL Solid Waste Southeast LLC Project), Series 2024-A, AMT, 4.375% <br> 10/1/2054 (put 10/1/2031) <sup>(a)</sup>  | 7900 | 7997 |
| Dev. Fin. Corp., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2025-A, AMT, 3.40% <br> 9/1/2050 (put 9/1/2028)  | 4560 | 4581 |
| Dev. Fin. Corp., Solid Waste Disposal Rev. Bonds (Waste Pro USA, Inc. Project), Series 2019, AMT, 5.00% 5/1/2029 <sup>(a)</sup>  | 1000 | 1009 |
| Dev. Fin. Corp., Solid Waste Disposal Rev. Bonds (Waste Pro USA, Inc. Project), Series 2017, AMT, 5.25% 8/1/2029  | 2000 | 2061 |
| Dev. Fin. Corp., Solid Waste Disposal Rev. Bonds (Waste Pro USA, Inc. Project), Series 2021, AMT, 3.00% 6/1/2032  | 5000 | 4616 |
| Dev. Fin. Corp., Solid Waste Disposal Rev. Bonds (Waste Pro USA, Inc. Project), Series 2023, AMT, 6.125% 7/1/2032 <br> (put 7/1/2026) <sup>(a)</sup>  | 1375 | 1381 |
| Dev. Fin. Corp., Solid Waste Disposal Rev. Bonds (Waste Pro USA, Inc. Project), Series 2025, AMT, 4.45% 7/1/2037 (put <br> 4/2/2030) <sup>(a)</sup>  | 2530 | 2551 |
| Edgewater East Community Dev. Dist., Special Assessment Rev. Bonds, Series 2021, 3.60% 5/1/2041  | 500 | 436 |
| Greater Orlando Aviation Auth., Airport Facs. Rev. Bonds, Series 2019-A, AMT, 5.00% 10/1/2028  | 5000 | 5297 |
| Greater Orlando Aviation Auth., Airport Facs. Rev. Bonds, Series 202-A, AMT, 5.00% 10/1/2029  | 1350 | 1452 |
| Greater Orlando Aviation Auth., Special Purpose Airport Facs. Rev. Bonds (United Airlines, Inc. Project), Series 2025, <br> AMT, 5.50% 11/1/2036  | 4400 | 4772 |
| Harbor Bay Community Dev. Dist., Capital Improvement Rev. Bonds, Series 2019-A-1, 3.875% 5/1/2039  | 1000 | 971 |
| City of Hialeah, Two Lakes Community Dev. Dist., Special Assessment Bonds, Series 2024, 5.00% 5/1/2032  | 680 | 740 |
| City of Hialeah, Two Lakes Community Dev. Dist., Special Assessment Bonds, Series 2024, 5.00% 5/1/2034  | 715 | 784 |
| City of Hialeah, Two Lakes Community Dev. Dist., Special Assessment Bonds, Series 2024, 5.00% 5/1/2044  | 250 | 255 |
| County of Hillsborough, Aviation Auth., Tampa International Airport Rev. Bonds, Series 2024-B, AMT, 5.00% 10/1/2029  | 2870 | 3082 |
| County of Hillsborough, Aviation Auth., Tampa International Airport Rev. Bonds, Series 2024-B, AMT, 5.00% 10/1/2031  | 8420 | 9313 |
| County of Hillsborough, Aviation Auth., Tampa International Airport Rev. Bonds, Series 2024-B, AMT, 5.00% 10/1/2038  | 1525 | 1681 |
| Hobe-St. Lucie Conservancy Dist., Improvement Bonds (Unit of Dev. No. 1A), Series 2024, 4.75% 5/1/2031  | 590 | 614 |
| Housing Fin. Auth., Multi Family Rev. Bonds (Cypress Oaks Apartments), Series 2025, 3.15% 12/1/2028 (put <br> 12/1/2027)  | 1000 | 1001 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2018-1, 4.00% 7/1/2049  | 140 | 140 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2018-2, 4.25% 1/1/2050  | 1550 | 1557 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2023-3, 5.75% 1/1/2054  | 970 | 1054 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2023-5, 6.25% 1/1/2054  | 1795 | 1979 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2023-1, 5.25% 7/1/2054  | 1325 | 1380 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2024-3, 6.25% 1/1/2055  | 1155 | 1260 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2024-5, 6.25% 1/1/2055  | 145 | 159 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2024-1, 6.25% 7/1/2055  | 940 | 1044 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2025-1, 6.25% 1/1/2056  | 2505 | 2770 |
| Housing Fin. Corp., Multi Family Mortgage Rev. Bonds (Residences at Marina Village), Series 2025-S, 2.85% 10/1/2043 <br> (put 10/1/2028)  | 2015 | 1995 |
| JEA, Electric System Rev. Bonds, Series 2017-B-3, 5.00% 10/1/2028  | 3070 | 3188 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **71** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Florida (continued)** | **Florida (continued)** | **Florida (continued)** |
| JEA, Electric System Rev. Bonds, Series 2024-A-3, AGI, 5.00% 10/1/2033  | USD<br> 2,760<br>| $3189 |
| JEA, Electric System Rev. Bonds, Series 2024-A-3, AGI, 5.00% 10/1/2034  | 1240 | 1450 |
| JEA, Water and Sewer System Rev. Bonds, Series 2025-A, 5.00% 10/1/2041  | 1500 | 1651 |
| Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Indigo Expansion Area Project), Series 2019, <br> 3.75% 5/1/2039 <sup>(a)</sup>  | 905 | 870 |
| Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Lakewood Ranch Southeast Project), Series 2025, <br> 5.00% 5/1/2035  | 2325 | 2427 |
| Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Lakewood Ranch Southeast Project), Series 2025, <br> 5.50% 5/1/2040  | 1785 | 1893 |
| Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Northeast Sector Project - Phase 2B), Series 2020, <br> 3.75% 5/1/2040 <sup>(a)</sup>  | 2585 | 2421 |
| Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Villages of Lakewood Ranch South Project), Series <br> 2016, 5.125% 5/1/2046  | 1000 | 1000 |
| County of Lee, Airport Rev. Bonds, Series 2024, AMT, 5.25% 10/1/2041  | 1635 | 1774 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Ref. Bonds (Lee Health System, Inc.), Series 2019-A-1, 4.00% <br> 4/1/2037  | 2500 | 2508 |
| Local Government Fin. Commission, Educational Facs. Rev. Bonds (Bridgeprep Academy Projects), Series 2025-A, <br> 5.50% 6/15/2040 <sup>(a)</sup>  | 3300 | 3418 |
| Local Government Fin. Commission, Educational Facs. Rev. Bonds (Bridgeprep Academy Projects), Series 2025-A, <br> 6.00% 6/15/2045 <sup>(a)</sup>  | 1030 | 1057 |
| Local Government Fin. Commission, Senior Living Rev. Bonds (Fleet Landing at Nocatee Project), Series 2025B-1, <br> 4.20% 11/15/2030 <sup>(a)</sup>  | 5945 | 5983 |
| Local Government Fin. Commission, Senior Living Rev. Bonds (Fleet Landing at Nocatee Project), Series 2025-A, <br> 6.625% 11/15/2045 <sup>(a)</sup>  | 3000 | 3167 |
| LT Ranch Community Dev. Dist., Capital Improvement Rev. Bonds, Series 2019, 4.00% 5/1/2040  | 1410 | 1368 |
| LT Ranch Community Dev. Dist., Capital Improvement Rev. Bonds, Series 2019, 4.00% 5/1/2050  | 2000 | 1687 |
| Counties of Manatee and Sarasota, Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Lakewood <br> Centre North), Series 2015, 4.875% 5/1/2035  | 500 | 500 |
| Counties of Manatee and Sarasota, Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Lakewood <br> Centre North), Series 2015, 4.875% 5/1/2045  | 1000 | 979 |
| City of Miami, Midtown Miami Community Dev. Dist., Special Assessment and Rev. Ref. Bonds (Infrastructure Project), <br> Series 2014-B, 5.00% 5/1/2029  | 505 | 505 |
| County of Miami-Dade, Aviation Rev. Ref. Bonds, Series 2024-A, AMT, 5.00% 10/1/2028  | 2250 | 2372 |
| County of Miami-Dade, Aviation Rev. Ref. Bonds, Series 2024-A, AMT, 5.00% 10/1/2032  | 10000 | 11105 |
| County of Miami-Dade, Aviation Rev. Ref. Bonds, Series 2017-B, AMT, 5.00% 10/1/2040  | 8990 | 9119 |
| County of Miami-Dade, Sawyers Landing Community Dev. Dist., Special Assessment Rev. Bonds, Series 2021, 3.25% <br> 5/1/2026  | 500 | 499 |
| County of Miami-Dade, Sawyers Landing Community Dev. Dist., Special Assessment Rev. Bonds, Series 2021, 4.125% <br> 5/1/2041  | 1645 | 1557 |
| Municipal Loan Council, Capital Improvement Rev. Bonds (Shingle Creek Transit and Utility Community Dev. Dist. <br> Series), Series 2024, AMT, 5.15% 5/1/2044  | 140 | 143 |
| North Miami Community Redev. Agcy., Redev. Rev. Bonds, Series 2024, 5.00% 3/1/2034  | 1690 | 1885 |
| North Miami Community Redev. Agcy., Redev. Rev. Bonds, Series 2024, 5.00% 3/1/2037  | 2945 | 3222 |
| North Miami Community Redev. Agcy., Redev. Rev. Bonds, Series 2024, 5.00% 3/1/2038  | 1095 | 1192 |
| County of Orange, Health Facs. Auth., Health Care Facs. Rev. Bonds (Presbyterian Retirement Communities Project), <br> Series 2015, 5.00% 8/1/2028  | 1250 | 1252 |
| County of Orange, Health Facs. Auth., Hospital Rev. Bonds (Orlando Health Obligated Group), Series 2025-A, 5.00% <br> 10/1/2041  | 2600 | 2845 |
| Orlando Utilities Commission, Utility System Rev. Ref. Bonds, Series 2024-B, 5.00% 10/1/2036  | 1585 | 1835 |
| County of Palm Beach, Health Facs. Auth., Retirement Communities Rev. Bonds (ACTS Retirement - Life Communities, <br> Inc. Obligated Group), Series 2018-A, 5.00% 11/15/2045  | 1250 | 1257 |
| City of Pompano Beach, Rev. Bonds (John Knox Village Project), Series 2015, 5.00% 9/1/2044  | 3230 | 3230 |
| City of Port St. Lucie, Tradition Community Dev. Dist. No. 9, Special Assessment Bonds (Community Infrastructure), <br> Series 2025, 4.35% 5/1/2032  | 535 | 552 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Special Assessment Rev. Ref. Bonds, Series 2022-B, <br> 3.00% 5/1/2032  | 1500 | 1423 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Special Assessment Rev. Ref. Bonds, Series 2022-B, <br> 3.25% 5/1/2040  | 1650 | 1424 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Special Assessment Rev. Ref. Bonds, Series 2022-C, <br> 3.40% 5/1/2040  | 4000 | 3485 |
| Dept. of Transportation, Right-of-Way Acquisition and Bridge Construction Rev. Ref. Bonds, Series 2021-B, 5.00% <br> 7/1/2030  | 500 | 555 |
| Dept. of Transportation, Turnpike Rev. Bonds, Series 2024-B, 4.00% 7/1/2045  | 890 | 866 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **72** |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Florida (continued)** | **Florida (continued)** | **Florida (continued)** |
| Dept. of Transportation, Turnpike Rev. Ref. Bonds, Series 2017-A, 5.00% 7/1/2026  | USD<br> 1,130<br>| $1144 |
| City of Venice, Retirement Community Rev. Improvement Bonds (Village on the Isle Project), Series 2024-B-3, 4.25% <br> 1/1/2030 <sup>(a)</sup>  | 495 | 496 |
| City of Venice, Retirement Community Rev. Improvement Bonds (Village on the Isle Project), Series 2024-B-2, 4.50% <br> 1/1/2030 <sup>(a)</sup>  | 440 | 441 |
| City of Venice, Retirement Community Rev. Improvement Bonds (Village on the Isle Project), Series 2024-B-1, 4.625% <br> 1/1/2030 <sup>(a)</sup>  | 375 | 376 |
| Village Community Dev. Dist. No. 16, Special Assessment Rev. Bonds, Series 2025, 4.00% 5/1/2035  | 2500 | 2525 |
| Village Community Dev. Dist. No. 16, Special Assessment Rev. Bonds, Series 2025, 4.50% 5/1/2040  | 2750 | 2794 |
| City of Wildwood, Village Community Dev. Dist. No. 12, Special Assessment Rev. Bonds, Series 2018, 4.25% 5/1/2043  | 4570 | 4418 |
| City of Wildwood, Village Community Dev. Dist. No. 13, Special Assessment Rev. Bonds, Series 2020, 3.25% <br>5/1/2040 <sup>(a)</sup>  | 1195 | 1069 |
| City of Wildwood, Village Community Dev. Dist. No. 13, Special Assessment Rev. Bonds, Series 2021, 3.00% 5/1/2041  | 4865 | 4110 |
| City of Wildwood, Village Community Dev. Dist. No. 13, Special Assessment Rev. Bonds, Series 2020, 3.50% <br>5/1/2051 <sup>(a)</sup>  | 3485 | 2729 |
| City of Wildwood, Village Community Dev. Dist. No. 15, Special Assessment Rev. Bonds, Series 2024, 3.75% <br>5/1/2029 <sup>(a)</sup>  | 370 | 372 |
| City of Wildwood, Village Community Dev. Dist. No. 15, Special Assessment Rev. Bonds, Series 2024, 4.00% <br>5/1/2034 <sup>(a)</sup>  | 540 | 548 |
| City of Wildwood, Village Community Dev. Dist. No. 15, Special Assessment Rev. Bonds, Series 2024, 4.55% <br>5/1/2044 <sup>(a)</sup>  | 1995 | 1928 |
|  |  | 213461 |
| **Georgia 1.98%** | **Georgia 1.98%** | **Georgia 1.98%** |
| Athens Housing Auth. Rev. Bonds, (University of Georgia Project - Ugaref Lumpkin Street Housing Phase I, LLC), Series <br> 2024, 5.00% 6/15/2038  | 1245 | 1396 |
| City of Atlanta, Airport General Rev. Bonds, Series 2019-B, AMT, 5.00% 7/1/2031  | 1000 | 1070 |
| City of Atlanta, Airport General Rev. Green Bonds, Series 2025-B, AMT, 5.00% 7/1/2039  | 2515 | 2749 |
| City of Atlanta, Airport General Rev. Green Bonds, Series 2025-B, AMT, 5.00% 7/1/2040  | 2565 | 2770 |
| City of Atlanta, Airport Passenger Fac. Charge and General Rev. Bonds, Series 2019-C, 5.00% 7/1/2038  | 3000 | 3180 |
| City of Atlanta, Airport Passenger Fac. Charge and General Rev. Bonds, Series 2019-D, AMT, 4.00% 7/1/2040  | 500 | 490 |
| City of Atlanta, Water and Wastewater Rev. Bonds, Series 2024, BAM, 5.00% 11/1/2032  | 4280 | 4915 |
| Augusta Dev. Auth., Rev. Bonds (AU Health System, Inc. Project), Series 2018, 4.00% 7/1/2038  | 460 | 462 |
| County of Burke, Dev. Auth., Pollution Control Rev. Bonds (Georgia Power Co. Plant Vogtle Project), Series 2012-2, <br> 3.30% 12/1/2049 (put 8/21/2029)  | 590 | 593 |
| County of Cobb, Dev. Auth., Educational Facs. Rev. Bonds (Mt. Bethel Christian Academy Project), Series 2023-A, <br> 6.25% 6/15/2055 <sup>(a)</sup>  | 370 | 382 |
| City of Dalton, Combined Utilities Rev. Bonds, Series 2020, 5.00% 3/1/2032  | 1000 | 1081 |
| County of Douglas, Housing Auth., Multi Family Housing Rev. Bonds (Astoria At Crystal Lake Project), Series 2024-B, <br> 5.00% 10/1/2028 (put 10/1/2027)  | 420 | 434 |
| County of Fayette Dev., Auth. Rev. Bonds (United States Soccer Federation, Inc. Project), Series 2024, 5.00% 10/1/2033  | 765 | 863 |
| County of Fayette Dev., Auth. Rev. Bonds (United States Soccer Federation, Inc. Project), Series 2024, 5.00% 10/1/2034  | 750 | 853 |
| County of Fayette Dev., Auth. Rev. Bonds (United States Soccer Federation, Inc. Project), Series 2024, 5.00% 10/1/2035  | 810 | 914 |
| County of Fayette Dev., Auth. Rev. Bonds (United States Soccer Federation, Inc. Project), Series 2024, 5.00% 10/1/2042  | 1255 | 1333 |
| County of Fulton, Residential Care Facs. for the Elderly, Retirement Fac. Rev. Ref. Bonds (Lenbrook Square Foundation, <br> Inc. Project), Series 2016, 5.00% 7/1/2036  | 1220 | 1222 |
| GO Bonds, Series 2022-A, 5.00% 7/1/2036  | 680 | 768 |
| City of Griffin, Housing Auth., Multi Family Housing Rev. Bonds (Northside Hills Apartments Project), Series 2024, <br> 5.00% 5/1/2028 (put 11/1/2027)  | 8550 | 8847 |
| Housing Auth., Multi Family Housing Rev. Bonds (Cahec GA Portfolio II Project), Series 2025, 3.15% 2/1/2029 (put <br> 2/1/2028)  | 1165 | 1166 |
| City of Lawrenceville, Housing Auth., Multi Family Housing Rev. Bonds (Applewood Towers Project), Series 2024-B, <br> 5.00% 10/1/2028 (put 10/1/2027)  | 312 | 323 |
| Main Street Natural Gas, Inc., Gas Project Rev. Bonds, Series 2007-A, 5.50% 9/15/2028  | 1000 | 1056 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2021-A, 4.00% 7/1/2052 (put 9/1/2027)  | 2750 | 2777 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2022-C, 4.00% 8/1/2052 (put 11/1/2027) <sup>(a)</sup>  | 10500 | 10491 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2023-B, 5.00% 7/1/2053 (put 3/1/2030)  | 3615 | 3817 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2023-C, 5.00% 9/1/2053 (put 12/1/2029)  | 4045 | 4307 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2024-A, 5.00% 5/1/2054 (put 9/1/2031)  | 2500 | 2687 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2024-B, 5.00% 12/1/2054 (put 3/1/2032)  | 7840 | 8393 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2024-C, 5.00% 12/1/2054 (put 12/1/2031)  | 2915 | 3124 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2025-A, 5.00% 6/1/2055 (put 6/1/2032)  | 4850 | 5255 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **73** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Georgia (continued)** | **Georgia (continued)** | **Georgia (continued)** |
| Metropolitan Atlanta Rapid Transit Auth., Sales Tax Rev. Green Bonds, Series 2025-A, 5.00% 7/1/2045  | USD<br> 1,110<br>| $1189 |
| Municipal Electric Auth., General Resolution Projects Bonds, Series 2024-A, 5.00% 1/1/2033  | 1250 | 1412 |
| Municipal Electric Auth., Project One Bonds, Series 2020-A, 5.00% 1/1/2027  | 620 | 635 |
| Municipal Electric Auth., Project One Bonds, Series 2024-A, 5.00% 1/1/2033  | 3750 | 4236 |
| Municipal Electric Auth., Project One Bonds, Series 2020-A, 5.00% 1/1/2034  | 2330 | 2542 |
| Private Colleges and Universities Auth., Rev. Bonds (Emory University), Series 2022-A, 5.00% 9/1/2032  | 1545 | 1768 |
| County of Rockdale, Rev. Ref. Bonds (Pratt Paper (GA), LLC Project), Series 2018, AMT, 4.00% 1/1/2038 <sup>(a)</sup>  | 3500 | 3438 |
| Savannah Housing Auth., Multi Family Rev. Bonds (Montgomery Landing Project), Series 2025, 3.15% 7/1/2043 (put <br> 7/1/2028)  | 1975 | 1979 |
|  |  | 94917 |
| **Guam 0.19%** | **Guam 0.19%** | **Guam 0.19%** |
| Business Privilege Tax Rev. Ref. Bonds, Series 2021-F, 5.00% 1/1/2029  | 2250 | 2375 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2021-F, 5.00% 1/1/2030  | 1000 | 1074 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2021-F, 5.00% 1/1/2031  | 1000 | 1087 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2021-F, 4.00% 1/1/2036  | 1200 | 1217 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2025-G, 5.00% 1/1/2036  | 555 | 610 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2025-G, 5.25% 1/1/2037  | 500 | 554 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2025-G, 5.25% 1/1/2038  | 550 | 606 |
| GO Bonds, Series 2019, AMT, 5.00% 11/15/2031  | 305 | 322 |
| Limited Obligation Bonds (Section 30), Series 2016-A, 5.00% 12/1/2046  | 1355 | 1365 |
|  |  | 9210 |
| **Hawaii 0.27%** | **Hawaii 0.27%** | **Hawaii 0.27%** |
| Airports System Rev. Bonds, Series 2018-A, AMT, 5.00% 7/1/2029  | 500 | 525 |
| Airports System Rev. Bonds, Series 2020-A, AMT, 4.00% 7/1/2035  | 500 | 508 |
| Airports System Rev. Bonds, Series 2018-A, AMT, 5.00% 7/1/2035  | 1965 | 2040 |
| Airports System Rev. Bonds, Series 2025-C, AMT, 5.00% 7/1/2041  | 1500 | 1616 |
| Dept. of Budget and Fin., Special Purpose Rev. Ref. Bonds (Hawaiian Electric Co., Inc.), Series 2017-B, AMT, 4.00% <br> 3/1/2037  | 1505 | 1493 |
| GO Bonds, Series 2016-FG, 4.00% 10/1/2033  | 2000 | 2012 |
| Harbor System Rev. Bonds, Series 2020-A, AMT, 5.00% 7/1/2028  | 1000 | 1047 |
| City and County of Honolulu, GO Bonds (Honolulu Rail Transit Project), Series 2023-C, 3.00% 7/1/2034  | 1030 | 1028 |
| City and County of Honolulu, Wastewater System Rev. Bonds (First Bond Resolution), Series 2025-A, 5.00% 7/1/2036  | 2190 | 2568 |
|  |  | 12837 |
| **Idaho 0.27%** | **Idaho 0.27%** | **Idaho 0.27%** |
| Housing and Fin. Assn., Sales Tax Rev. Bonds (Transportation Expansion and Congestion Mitigation Fund), Series <br> 2023-A, 5.25% 8/15/2048  | 2035 | 2172 |
| Housing and Fin. Assn., Single Family Mortgage Bonds, Series 2023-C, 5.75% 1/1/2053  | 2445 | 2661 |
| Housing and Fin. Assn., Single Family Mortgage Bonds, Series 2024-A, 6.00% 7/1/2054  | 610 | 672 |
| Housing and Fin. Assn., Single Family Mortgage Bonds, Series 2025-C, 6.25% 1/1/2056  | 6635 | 7519 |
|  |  | 13024 |
| **Illinois 6.29%** | **Illinois 6.29%** | **Illinois 6.29%** |
| Build Illinois Bonds, Sales Tax Rev. Bonds, Series 2021-A, 3.00% 6/15/2032  | 500 | 483 |
| Build Illinois Bonds, Sales Tax Rev. Bonds, Series 2024-B, 5.00% 6/15/2035  | 5130 | 5766 |
| Build Illinois Bonds, Sales Tax Rev. Bonds, Series 2025-C, 5.00% 6/15/2041  | 2000 | 2148 |
| Build Illinois Bonds, Sales Tax Rev. Ref. Bonds, Series 2024-B, 5.00% 6/15/2036  | 645 | 718 |
| City of Chicago, Board of Education, Capital Improvement Tax Bonds (Dedicated Rev.), Series 2023, 5.25% 4/1/2036  | 250 | 273 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2023-A, 5.50% 12/1/2031  | 2000 | 2109 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2023-A, 5.00% 12/1/2032  | 2000 | 2056 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2033  | 1350 | 1359 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2037  | 1120 | 1119 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2038  | 565 | 563 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2040  | 1500 | 1471 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2025-A, 5.75% 12/1/2050  | 4020 | 4003 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2025-A, 6.25% 12/1/2050  | 3960 | 4140 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds, Series 2025-C, 6.00% 12/1/2039  | 5000 | 5392 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **74** |

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------

Capital Group Municipal Income ETF (continued)

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| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Illinois (continued)** | **Illinois (continued)** | **Illinois (continued)** |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2017-D, 5.00% <br> 12/1/2026  | USD<br> 1,925<br>| $1939 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, AGI, 5.00% <br> 12/1/2028  | 2300 | 2411 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, 5.00% <br> 12/1/2030  | 1535 | 1560 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2021-B, 5.00% <br> 12/1/2030  | 2000 | 2056 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2017-B, 6.75% <br> 12/1/2030 <sup>(a)</sup>  | 1000 | 1049 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, 5.00% <br> 12/1/2035  | 1250 | 1242 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2022-B, 4.00% <br> 12/1/2036  | 7815 | 7278 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2022-B, 4.00% <br> 12/1/2037  | 1000 | 925 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2025-B, 6.00% <br> 12/1/2037  | 3430 | 3720 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2022-B, 4.00% <br> 12/1/2038  | 5000 | 4603 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2025-B, 6.00% <br> 12/1/2038  | 7500 | 8119 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2022-A, 4.00% <br> 12/1/2047  | 500 | 390 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), CAB, Series 1998-B-1, NATL, <br> 0% 12/1/2027  | 1070 | 997 |
| City of Chicago, Chicago Midway Airport, Rev. Ref. Bonds, Series 2023-C, AMT, 5.00% 1/1/2028  | 1130 | 1171 |
| City of Chicago, GO Bonds, Series 2021-A, 4.00% 1/1/2035  | 500 | 482 |
| City of Chicago, GO Bonds, Series 2025-C, 6.00% 1/1/2043  | 450 | 480 |
| City of Chicago, GO Bonds (City Colleges of Chicago Capital Improvement Project), CAB, Series 1999, NATL, 0% <br> 1/1/2026 (escrowed to maturity)  | 5345 | 5345 |
| City of Chicago, GO Rev. Ref. Bonds, Series 2020-A, 5.00% 1/1/2026  | 1500 | 1500 |
| City of Chicago, GO Rev. Ref. Bonds, Series 2020-A, 5.00% 1/1/2027  | 800 | 809 |
| City of Chicago, O'Hare International Airport, General Airport Rev. Bonds, Series 2016-D, 5.00% 1/1/2026  | 500 | 500 |
| City of Chicago, O'Hare International Airport, General Airport Rev. Ref. Bonds, Series 2024-C, AMT, 5.00% 1/1/2028  | 7000 | 7252 |
| City of Chicago, O'Hare International Airport, General Airport Rev. Ref. Bonds, Series 2025-D, 5.00% 1/1/2034  | 1750 | 2009 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax GO Bonds (Dedicated Tax <br> Rev.), Series 2012-A, 5.00% 12/1/2042  | 1000 | 968 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax GO Bonds (Dedicated Tax <br> Rev.), CAB, Series 1998-B-1, NATL, 0% 12/1/2031  | 240 | 191 |
| City of Chicago, Transit Auth., Capital Grant Receipts Rev. Ref. Bonds (Federal Transit Administration Section 5337 State <br> of Good Repair Formula Funds), Series 2017, 5.00% 6/1/2026  | 775 | 781 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2023-B, AGI, 5.00% 1/1/2029  | 1280 | 1362 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2024-B, BAM, 5.00% 1/1/2035  | 1480 | 1681 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2023-B, AGI, 5.00% 1/1/2036  | 1125 | 1237 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2023-B, AGI, 5.00% 1/1/2037  | 3735 | 4079 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2024-B, BAM, 5.00% 1/1/2037  | 2155 | 2417 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2024-A, BAM, 5.00% 1/1/2041  | 400 | 435 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2024-A, BAM, 5.00% 1/1/2043  | 800 | 854 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, CAB, Series 1998-A, NATL, 0% 1/1/2026  | 1000 | 1000 |
| City of Chicago, Water Rev. Bonds, Series 2000, 5.00% 11/1/2028  | 1000 | 1019 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2017, 5.00% 11/1/2028  | 2000 | 2081 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2017-2, AGI, 5.00% 11/1/2031  | 1000 | 1036 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2023-B, AGI, 5.00% 11/1/2032  | 1020 | 1143 |
| Fin. Auth., Graduate and Professional Student Loan Program Rev. Bonds (Midwestern University Foundation), Series <br> 2025-A, 4.25% 7/1/2041  | 480 | 488 |
| Fin. Auth., Rev. Bonds (Advocate Health Care Network), Series 2008-A, 4.00% 11/1/2030  | 245 | 251 |
| Fin. Auth., Rev. Bonds (CenterPointJoliet Terminal 2020), Series 2024, AMT, 4.125% 12/1/2050 (put 12/31/2034) <sup>(a)</sup>  | 5000 | 4996 |
| Fin. Auth., Rev. Bonds (Mercy Health Corp.), Series 2016, 5.00% 12/1/2040  | 8000 | 8076 |
| Fin. Auth., Rev. Bonds (Mercy Health Corp.), Series 2016, 5.00% 12/1/2046  | 5875 | 5931 |
| Fin. Auth., Rev. Bonds (Northshore University HealthSystem), Series 2020-A, 4.00% 8/15/2036  | 2430 | 2452 |
| Fin. Auth., Rev. Bonds (Northshore University HealthSystem), Series 2020-A, 4.00% 8/15/2037  | 2000 | 2004 |
| Fin. Auth., Rev. Bonds (Northshore University HealthSystem), Series 2020-A, 4.00% 8/15/2040  | 3290 | 3224 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **75** | Capital Group Fixed Income ETF Trust |

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------

Capital Group Municipal Income ETF (continued)

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| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Illinois (continued)** | **Illinois (continued)** | **Illinois (continued)** |
| Fin. Auth., Rev. Bonds (OSF Healthcare System), Series 2020-B-2, 5.00% 5/15/2050 (put 11/15/2026)  | USD<br> 2,000<br>| $2012 |
| Fin. Auth., Rev. Bonds (Rush University For Health), Series 2025-A, 5.00% 11/15/2035  | 4615 | 5289 |
| Fin. Auth., Rev. Bonds (The Carle Foundation), Series 2021-A, 5.00% 8/15/2033  | 2000 | 2204 |
| Fin. Auth., Rev. Bonds (The Carle Foundation), Series 2021-A, 4.00% 8/15/2038  | 1000 | 1001 |
| Fin. Auth., Rev. Bonds (The Carle Foundation), Series 2021-A, 4.00% 8/15/2041  | 750 | 722 |
| Fin. Auth., Rev. Bonds (University of Chicago), Series 2024-B, 5.25% 4/1/2039  | 500 | 563 |
| Fin. Auth., Rev. Bonds (University of Chicago), Series 2024-A, 5.25% 4/1/2042  | 750 | 815 |
| Fin. Auth., Rev. Green Bonds (Clean Water Initiative Revolving Fund), Series 2020, 4.00% 7/1/2038  | 2500 | 2538 |
| Fin. Auth., Rev. Green Bonds (Clean Water Initiative Revolving Fund), Series 2025-A, 5.00% 7/1/2043  | 450 | 489 |
| Fin. Auth., Rev. Ref. Bonds (OSF Healthcare System), Series 2015-A, 5.00% 11/15/2034  | 620 | 621 |
| Fin. Auth., Rev. Ref. Bonds (OSF Healthcare System), Series 2015-A, 5.00% 11/15/2035  | 1500 | 1502 |
| Fin. Auth., Rev. Ref. Bonds (OSF Healthcare System), Series 2018-A, 5.00% 5/15/2043  | 2500 | 2548 |
| Fin. Auth., Rev. Ref. Bonds (OSF Healthcare System), Series 2015-A, 5.00% 11/15/2045  | 7000 | 7000 |
| Fin. Auth., Rev. Ref. Bonds (Smith Crossing), Series 2022, 4.00% 10/15/2028  | 335 | 334 |
| Fin. Auth., Rev. Ref. Bonds (Smith Crossing), Series 2022, 4.00% 10/15/2029  | 225 | 225 |
| Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2023, AMT, 4.60% 10/1/2053 <br> (put 10/1/2026)  | 1565 | 1570 |
| Fin. Auth., Solid Waste Disposal Rev. Green Bonds (LRS Holdings, LLC Project), Series 2023-A, AMT, 7.25% 9/1/2052 <br> (put 9/1/2030) <sup>(a)</sup>  | 500 | 546 |
| GO Bonds, Series 2021-A, 5.00% 3/1/2028  | 2505 | 2617 |
| GO Bonds, Series 2025-C, 5.25% 9/1/2031  | 5000 | 5591 |
| GO Bonds, Series 2021-A, 5.00% 3/1/2032  | 2060 | 2255 |
| GO Bonds, Series 2024-B, 5.00% 10/1/2034  | 3850 | 4306 |
| GO Bonds, Series 2023-B, 5.00% 5/1/2036  | 910 | 991 |
| GO Bonds, Series 2022-C, 5.50% 10/1/2040  | 1925 | 2102 |
| GO Bonds, Series 2024-C, 4.00% 10/1/2041  | 2000 | 1914 |
| GO Bonds, Series 2024-B, 5.25% 5/1/2042  | 2220 | 2382 |
| GO Bonds, Series 2024-B, 5.25% 5/1/2045  | 2350 | 2456 |
| GO Rev. Ref. Bonds, Series 2023-D, 5.00% 7/1/2028  | 1075 | 1131 |
| GO Rev. Ref. Bonds, Series 2024, 5.00% 2/1/2031  | 3250 | 3565 |
| Housing Dev. Auth., Homeowner Mortgage Rev. Bonds, Series 2018-A-1, 4.00% 8/1/2048  | 1210 | 1216 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds, Series 2025, 3.15% 7/1/2029 (put 8/1/2028)  | 1420 | 1422 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (6900 Crandon), Series 2023, 5.00% 2/1/2027 (put 2/1/2026)  | 900 | 901 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (South Shore HHDC), Series 2023, 5.00% 2/1/2027 (put <br> 2/1/2026)  | 650 | 651 |
| Housing Dev. Auth., Rev. Bonds, Series 2021-D, 3.00% 10/1/2051  | 4835 | 4763 |
| Housing Dev. Auth., Rev. Bonds, Series 2022-A, 3.50% 4/1/2052  | 625 | 623 |
| Housing Dev. Auth., Rev. Bonds, Series 2023-N, 6.25% 4/1/2054  | 885 | 962 |
| Housing Dev. Auth., Rev. Bonds, Series 2024-I, 6.00% 10/1/2055  | 5270 | 5854 |
| Housing Dev. Auth., Rev. Bonds, Series 2024-E, 6.25% 10/1/2055  | 3025 | 3317 |
| Housing Dev. Auth., Rev. Bonds, Series 2025-D, 6.25% 10/1/2055  | 7750 | 8767 |
| Housing Dev. Auth., Rev. Bonds, Series 2025-G, 6.25% 4/1/2056  | 2035 | 2321 |
| Housing Dev. Auth., Rev. Social Bonds, Series 2024-C, 6.25% 10/1/2054  | 1335 | 1491 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, CAB, Series 1994, NATL, 0% <br> 6/15/2028  | 1055 | 977 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, CAB, Series 2002-A, AGI, 0% <br> 6/15/2030  | 1055 | 918 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, CAB, Series 2002-A, NATL, 0% <br> 6/15/2032  | 935 | 755 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Bonds, Series 2020-B, 5.00% <br> 6/15/2042  | 4125 | 4217 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Bonds, CAB, Series 2002-A, NATL, <br> 0% 12/15/2029  | 2000 | 1763 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Bonds, CAB, NATL, Series 2002-A, <br> 0% 12/15/2030  | 1095 | 933 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2024-B, 5.00% <br> 12/15/2035  | 1980 | 2187 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2024-B, 5.00% <br> 12/15/2036  | 540 | 591 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2024-B, 5.00% <br> 12/15/2037  | 1090 | 1184 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2024-B, 5.00% <br> 12/15/2038  | 800 | 863 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **76** |

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------

Capital Group Municipal Income ETF (continued)

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| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Illinois (continued)** | **Illinois (continued)** | **Illinois (continued)** |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, CAB, Series 2010-B-1, <br> AGI, 0% 6/15/2027  | USD<br> 1,040<br>| $995 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, CAB, Series 2002-A, <br> NATL, 0% 12/15/2031  | 2335 | 1921 |
| Sales Tax Securitization Corp., Sales Tax Securitization Bonds, Series 2020-A, 5.00% 1/1/2029  | 1375 | 1458 |
| Sales Tax Securitization Corp., Sales Tax Securitization Rev. Ref. Bonds, Series 2023-C, 5.00% 1/1/2029  | 3220 | 3415 |
| Sales Tax Securitization Corp., Sales Tax Securitization Rev. Ref. Bonds, Series 2023-A, 5.00% 1/1/2033  | 6000 | 6658 |
| Sales Tax Securitization Corp., Sales Tax Securitization Rev. Ref. Bonds, Series 2023-A, 5.00% 1/1/2034  | 5505 | 6053 |
| Sales Tax Securitization Corp., Sales Tax Securitization Rev. Ref. Bonds, Series 2024-A, 5.00% 1/1/2037  | 7120 | 7847 |
| Sales Tax Securitization Corp., Sales Tax Securitization Rev. Ref. Bonds, Series 2025-A, 5.00% 1/1/2040  | 7500 | 8160 |
| Sales Tax Securitization Corp., Sales Tax Securitization Rev. Ref. Bonds, Series 2024-A, 5.00% 1/1/2041  | 1500 | 1605 |
| Sales Tax Securitization Corp., Sales Tax Securitization Rev. Ref. Bonds, Series 2025-A, 5.00% 1/1/2042  | 5750 | 6059 |
| Sports Facs. Auth., Sports Facs. Rev. Ref. Bonds (State Tax Supported), Series 2019, BAM, 5.00% 6/15/2029  | 665 | 707 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2019-B, 5.00% 1/1/2026  | 1000 | 1000 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2016-B, 5.00% 1/1/2032  | 2580 | 2612 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2023-A, 5.25% 1/1/2045  | 1065 | 1138 |
| Toll Highway Auth., Toll Highway Rev. Ref. Bonds, Series 2016-A, 5.00% 12/1/2032  | 11280 | 11301 |
|  |  | 302037 |
| **Indiana 1.51%** | **Indiana 1.51%** | **Indiana 1.51%** |
| Concord Community Schools, First Mortgage Rev. Ref. and Improvement Bonds, Series 2016, 5.00% 1/15/2026  | 1000 | 1001 |
| Fin. Auth., Environmental Improvement Rev. Ref. Bonds (U.S. Steel Corp. Project), Series 2021-A, 4.125% 12/1/2026  | 2450 | 2452 |
| Fin. Auth., Health System Rev. Bonds (Indiana University Health), Series 2025-E, 5.00% 10/1/2034  | 3295 | 3824 |
| Fin. Auth., Health System Rev. Bonds (Indiana University Health), Series 2025-C, 5.00% 10/1/2043  | 5000 | 5385 |
| Fin. Auth., Health System Rev. Bonds (Indiana University Health), Series 2025-D-1, 5.00% 10/1/2064 (put 10/1/2029)  | 2400 | 2564 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Methodist Hospitals, Inc.), Series 2024-A, 5.50% 9/15/2039  | 1025 | 1102 |
| Fin. Auth., Midwestern Disaster Relief Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2012-B, 3.00% 11/1/2030  | 665 | 651 |
| Fin. Auth., Midwestern Disaster Relief Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2012-A, 4.25% 11/1/2030  | 1075 | 1105 |
| Fin. Auth., Pollution Control Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2010-A, 3.00% 11/1/2030  | 1000 | 981 |
| Fin. Auth., Rev. Bonds (Ascension Senior Credit Group), Series 2025-A-1, 5.00% 11/15/2038  | 5000 | 5646 |
| Fin. Auth., Rev. Bonds (Ascension Senior Credit Group), Series 2025-A-1, 5.00% 11/15/2043  | 1185 | 1273 |
| Fin. Auth., Rev. Bonds (BHI Senior Living Obligated Group), Series 2018-A, 5.00% 11/15/2028  | 1100 | 1134 |
| Fin. Auth., Rev. Bonds (BHI Senior Living Obligated Group), Series 2018-A, 5.00% 11/15/2038  | 1000 | 1016 |
| Fin. Auth., State Revolving Fund Program Green Bonds, Series 2025-C, 5.00% 2/1/2040  | 1000 | 1128 |
| Fin. Auth., State Revolving Fund Program Green Bonds, Series 2025-C, 5.00% 2/1/2041  | 905 | 1010 |
| Fin. Auth., State Revolving Fund Program Green Bonds, Series 2023-B, 5.00% 2/1/2043  | 1930 | 2076 |
| City of Franklin, Econ. Dev. Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series 2019-B, 5.00% 7/1/2027  | 400 | 410 |
| Housing and Community Dev. Auth., Multi Family Housing Rev. Bonds (Foundry Row Project), Series 2025, 3.35% <br> 1/1/2043 (put 1/1/2028)  | 155 | 156 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2020-A, 3.75% 1/1/2049  | 560 | 561 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2023-A-1, 5.75% 7/1/2053  | 350 | 370 |
| Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2025-1A, AMT, 4.00% <br> 6/1/2046  | 335 | 325 |
| Municipal Power Agcy., Power Supply System Rev. Ref. Bonds, Series 2016-A, 5.00% 1/1/2042  | 14535 | 14626 |
| Trustees of Purdue University, Student Facs. System Rev. Bonds, Series 2025-A, 5.00% 7/1/2037  | 3825 | 4413 |
| City of Valparaiso, Exempt Facs. Rev. Ref. Bonds (Pratt Paper (IN), LLC Project), Series 2024, AMT, 4.50% 1/1/2034 <sup>(a)</sup>  | 885 | 907 |
| City of Whiting, Environmental Facs. Rev. Bonds (BP Products North America, Inc. Project), Series 2008, 4.20% <br> 6/1/2044 (put 6/2/2035)  | 4585 | 4823 |
| City of Whiting, Environmental Facs. Rev. Bonds (BP Products North America, Inc. Project), Series 2015, AMT, 4.40% <br> 11/1/2045 (put 6/10/2031)  | 2750 | 2887 |
| City of Whiting, Environmental Facs. Rev. Bonds (BP Products North America, Inc. Project), Series 2016-A, AMT, 4.40% <br> 3/1/2046 (put 6/10/2031)  | 600 | 630 |
| City of Whiting, Environmental Facs. Rev. Ref. Bonds (BP Products North America, Inc. Project), Series 2019-A, AMT, <br> 5.00% 12/1/2044 (put 6/15/2026)  | 10000 | 10092 |
|  |  | 72548 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **77** | Capital Group Fixed Income ETF Trust |

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------

Capital Group Municipal Income ETF (continued)

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| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Iowa 0.58%** | **Iowa 0.58%** | **Iowa 0.58%** |
| Fin. Auth., Midwestern Disaster Area Rev. Bonds (Alcoa Inc. Project), Series 2012, 4.75% 8/1/2042  | USD<br> 3,870<br>| $3870 |
| Fin. Auth., Midwestern Disaster Area Rev. Ref. Bonds (Iowa Fertilizer Co. Project), Series 2022, 5.00% 12/1/2050 (put <br> 12/1/2042)  | 2405 | 2768 |
| Fin. Auth., Midwestern Disaster Area Rev. Ref. Bonds (Iowa Fertilizer Co. Project), Series 2022, 5.00% 12/1/2050 (preref. <br> 12/1/2032)  | 1110 | 1278 |
| Fin. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2024-A, 5.00% 5/15/2044  | 3100 | 2998 |
| PEFA, Inc., Gas Project Rev. Bonds, Series 2019, 5.00% 9/1/2049 (put 9/1/2026)  | 11500 | 11604 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2023-B, AMT, 5.00% 12/1/2029  | 350 | 368 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2024-B, AMT, 5.00% 12/1/2029  | 250 | 263 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2025-B, AMT, 4.50% 12/1/2045  | 3425 | 3533 |
| Tobacco Settlement Auth., Tobacco Settlement Asset-Backed Bonds, Series 2021-A-2, 4.00% 6/1/2038  | 1000 | 984 |
|  |  | 27666 |
| **Kansas 0.01%** | **Kansas 0.01%** | **Kansas 0.01%** |
| Dev. Fin. Auth., Hospital Rev. Bonds (Advent Health Obligated Group), Series 2021-B, 5.00% 11/15/2054 (put <br> 11/15/2028)  | 500 | 529 |
| **Kentucky 1.13%** | **Kentucky 1.13%** | **Kentucky 1.13%** |
| City of Ashland, Medical Center Rev. Bonds (Ashland Hospital Corp. - King's Daughters Medical Center Project), Series <br> 2016-A, 5.00% 2/1/2040  | 500 | 500 |
| City of Ashland, Medical Center Rev. Bonds (Ashland Hospital Corp. King's Daughters Medical Center Project), Series <br> 2016-A, 5.00% 2/1/2029  | 1010 | 1011 |
| County of Carroll, Environmental Facs. Rev. Ref. Bonds, Series 2006-B, AMT, 2.125% 10/1/2034  | 2150 | 1847 |
| City of Henderson, Exempt Facs. Rev. Bonds (Pratt Paper, LLC Project), Series 2022-B, AMT, 3.70% 1/1/2032 <sup>(a)</sup>  | 3490 | 3490 |
| City of Henderson, Exempt Facs. Rev. Bonds (Pratt Paper, LLC Project), Series 2022-B, AMT, 4.45% 1/1/2042 <sup>(a)</sup>  | 1525 | 1497 |
| Higher Education Student Loan Corp., Student Loan Rev. Bonds, Series 2019-A-1, AMT, 5.00% 6/1/2029  | 500 | 521 |
| Higher Education Student Loan Corp., Student Loan Rev. Bonds, Series 2025-A-1, AMT, 4.75% 6/1/2040  | 2720 | 2790 |
| Housing Corp., Multi Family Housing Rev. Bonds (Beecher Terrace Phase IV Project), Series 2023, 5.00% 9/1/2043 (put <br> 9/1/2026)  | 1790 | 1796 |
| Housing Corp., Single Family Mortgage Rev. Bonds, Series 2024-A, 6.25% 7/1/2054  | 575 | 637 |
| Housing Corp., Single Family Mortgage Rev. Bonds, Series 2024-C, 6.25% 1/1/2055  | 240 | 262 |
| Housing Corp., Single Family Mortgage Rev. Bonds, Series 2024-E, 6.25% 7/1/2055  | 1245 | 1368 |
| Housing Corp., Single Family Mortgage Rev. Bonds, Series 2025-A, 6.25% 7/1/2055  | 3040 | 3356 |
| Louisville/Jefferson Metro County Government, Health System Rev. Bonds (Norton Healthcare, Inc.), Series 2016-A, <br> 5.00% 10/1/2033  | 3000 | 3038 |
| Louisville/Jefferson Metro County Government, Pollution Control Rev. Bonds (Louisville Gas and Electric Co. Project), <br> Series 2003-A, 2.00% 10/1/2033  | 3000 | 2619 |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2022-A-1, 4.00% 8/1/2052 (put 8/1/2030)  | 500 | 505 |
| Public Energy Auth., Gas Supply Rev. Ref. Bonds, Series 2025-C, 5.00% 5/1/2036  | 13000 | 13819 |
| Public Energy Auth., Gas Supply Rev. Ref. Bonds, Series 2023-A-1, 5.25% 4/1/2054 (put 2/1/2032)  | 5050 | 5457 |
| Public Energy Auth., Gas Supply Rev. Ref. Bonds, Series 2024-B, 5.00% 1/1/2055 (put 8/1/2032)  | 2005 | 2158 |
| County of Trimble, Environmental Facs. Rev. Bonds (Louisville Gas and Electric Co. Project), Series 2023-A, AMT, 4.70% <br> 6/1/2054 (put 6/1/2027) <sup>(c)</sup>  | 1000 | 1008 |
| Turnpike Auth., Econ. Dev. Road Rev. Ref. Bonds (Revitalization Projects), Series 2024-A, 5.00% 7/1/2030  | 4015 | 4433 |
| Turnpike Auth., Econ. Dev. Road Rev. Ref. Bonds (Revitalization Projects), Series 2022-A, 5.00% 7/1/2031  | 2030 | 2277 |
|  |  | 54389 |
| **Louisiana 0.91%** | **Louisiana 0.91%** | **Louisiana 0.91%** |
| Aviation Board, General Airport Rev. Ref. Bonds, Series 2024-B, AMT, 5.00% 1/1/2034  | 1135 | 1257 |
| Housing Corp., Multi Family Housing Rev. Bonds (Arbours at Acadiana Project), Series 2024, 5.00% 4/1/2028 (put <br> 4/1/2027)  | 800 | 820 |
| Housing Corp., Multi Family Housing Rev. Bonds (Deerwood Apartments Project), Series 2024, 4.00% 1/1/2043 (put <br> 7/1/2027)  | 1000 | 1005 |
| Housing Corp., Multi Family Housing Rev. Bonds (Hampton Park Project), Series 2025, 3.15% 7/1/2044 (put 7/1/2028)  | 2375 | 2381 |
| Housing Corp., Multi Family Housing Rev. Bonds (NSA East Bank Apartments Project), Series 2025, 3.15% 4/1/2030 <br> (put 4/1/2029)  | 3255 | 3263 |
| Housing Corp., Single Family Mortgage Rev. Bonds, Series 2025-C, 6.25% 6/1/2055  | 1400 | 1560 |
| Housing Corp., Single Family Mortgage Rev. Bonds (Home Ownership Program), Series 2023-A, 5.75% 6/1/2054  | 365 | 395 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Bonds (Louisiana Insurance Guaranty Assn. <br> Project), Series 2022-B, 5.00% 8/15/2027  | 1000 | 1037 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **78** |

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------

Capital Group Municipal Income ETF (continued)

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| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Louisiana (continued)** | **Louisiana (continued)** | **Louisiana (continued)** |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (Christwood Project), Series 2024, <br> 5.00% 11/15/2037 <sup>(a)</sup>  | USD<br> 590<br>| $612 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (East Baton Rouge Sewerage <br> Commission Projects), Series 2023, 5.00% 2/1/2041  | 400 | 423 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (Entergy Louisiana, LLC Projects), <br> Series 2021-B, 2.50% 4/1/2036  | 1440 | 1236 |
| Louisiana Stadium and Exposition Dist., Rev. Bonds, Series 2023-A, 5.00% 7/1/2031  | 1355 | 1505 |
| Louisiana Stadium and Exposition Dist., Rev. Bonds, Series 2023-A, 5.00% 7/1/2035  | 1400 | 1578 |
| Louisiana Stadium and Exposition Dist., Rev. Bonds, Series 2023-A, 5.00% 7/1/2036  | 1250 | 1398 |
| Public Facs. Auth., Rev. and Rev. Ref. Bonds (Ochsner Clinic Foundation Project), Series 2017, 5.00% 5/15/2042  | 10985 | 11085 |
| Public Facs. Auth., Rev. Ref. Bonds (Acadiana Renaissance Charter Academy Project), Series 2025, 5.50% 6/15/2040 <sup>(a)</sup>  | 3500 | 3623 |
| Public Facs. Auth., Rev. Ref. Bonds (Lake Charles Academy Foundation Project), Series 2024-A, 5.00% 12/15/2034 <sup>(a)</sup>  | 1635 | 1679 |
| Public Facs. Auth., Solid Waste Disposal Rev. Bonds (Waste Pro USA, Inc. Project), Series 2025, AMT, 4.375% 5/1/2053 <br> (put 10/2/2028) <sup>(a)</sup>  | 6520 | 6530 |
| Public Facs. Auth., Solid Waste Disposal Rev. Bonds (Waste Pro USA, Inc. Project), Series 2023, AMT, 6.75% 10/1/2053 <br> (put 10/1/2028) <sup>(a)</sup>  | 500 | 529 |
| Parish of St. James, Rev. Bonds (NuStar Logistics, LP Project), Series 2011, 3.70% 8/1/2041 (put 6/1/2030)  | 1570 | 1591 |
|  |  | 43507 |
| **Maine 0.06%** | **Maine 0.06%** | **Maine 0.06%** |
| Fin. Auth., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2015-R-3, AMT, 5.00% <br> 8/1/2035 <sup>(a)</sup>  | 710 | 734 |
| Fin. Auth., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2024, AMT, 4.625% 12/1/2047 <br> (put 6/1/2035) <sup>(a)</sup>  | 1095 | 1104 |
| Turnpike Auth., Turnpike Rev. Bonds, Series 2020, 3.00% 7/1/2040  | 1000 | 900 |
|  |  | 2738 |
| **Maryland 1.49%** | **Maryland 1.49%** | **Maryland 1.49%** |
| County of Baltimore, Rev. Bonds (Riderwood Village, Inc. Fac.), Series 2020, 4.00% 1/1/2029  | 500 | 513 |
| Mayor and City Council of Baltimore, Special Obligation Bonds (City-Wide Affordable Housing Program), Series 2025, <br> 4.00% 6/1/2035 <sup>(a)</sup>  | 600 | 601 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2021-C, 3.00% <br> 9/1/2051  | 6658 | 6568 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2023-A, 5.50% <br> 9/1/2053  | 945 | 1013 |
| Econ. Dev. Corp., Port Facs. Rev. Ref. Bonds (Core Natural Resources, Inc. Project), Series 2025, 5.00% 7/1/2048 (put <br> 3/27/2035) <sup>(a)</sup>  | 770 | 807 |
| GO Bonds, State and Local Facs. Loan of 2018, Series 2018-A-1, 5.00% 3/15/2030  | 550 | 580 |
| GO Bonds, State and Local Facs. Loan of 2019, Series 2019-A, 5.00% 8/1/2031  | 1775 | 1927 |
| GO Bonds, State and Local Facs. Loan of 2025, Series 2025-B-1, 5.00% 8/1/2028  | 6095 | 6493 |
| GO Improvement Bonds, Series 2025, 5.00% 10/1/2030  | 6115 | 6830 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Broadmead Issue), Series 2018-A, 5.00% 7/1/2030  | 690 | 711 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Broadmead Issue), Series 2018-A, 5.00% 7/1/2038  | 240 | 246 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Maryland Institute College of Art Issue), Series 2024, 5.25% <br> 6/1/2036  | 1365 | 1453 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Maryland Institute College of Art Issue), Series 2024, 5.25% <br> 6/1/2043  | 2000 | 2019 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (The Johns Hopkins Health System Issue), Series 2025-A, 5.00% <br> 5/15/2035  | 5020 | 5854 |
| County of Montgomery, Rev. Ref. Bonds (Dept. of Liquor Control), Series 2019-A, 4.00% 6/15/2037  | 750 | 760 |
| County of Prince George, GO Consolidated Public Improvement Bonds, Series 2025-A, 5.00% 8/1/2038  | 1065 | 1232 |
| Dept. of Transportation, Consolidated Transportation Bonds, Series 2021-A, 2.00% 10/1/2034  | 735 | 650 |
| Dept. of Transportation, Consolidated Transportation Rev. Ref. Bonds, Series 2025-C, 5.00% 11/1/2028  | 5000 | 5355 |
| Transportation Auth., Transportation Facs. Projects Rev. Ref. Bonds, Series 2024-A, 5.00% 7/1/2038  | 1465 | 1669 |
| University System of Maryland, Auxiliary Fac. and Tuition Rev. Ref. Bonds, Series 2021-A, 4.00% 4/1/2040  | 5000 | 5060 |
| Washington Suburban Sanitary Dist., Consolidated Public Improvement Bonds, Series 2025, 5.00% 6/1/2041  | 9000 | 10096 |
| Washington Suburban Sanitary Dist., Consolidated Public Improvement Bonds, Series 2025, 5.00% 6/1/2042  | 8890 | 9861 |
| Washington Suburban Sanitary Dist., Consolidated Public Improvement Green Bonds, Series 2025, 4.00% 6/1/2052  | 1360 | 1290 |
|  |  | 71588 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **79** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Massachusetts 0.33%** | **Massachusetts 0.33%** | **Massachusetts 0.33%** |
| Clean Water Trust, Revolving Fund Rev. Ref. Green Bonds, Series 2023-2B, 5.00% 2/1/2040  | USD<br> 1,000<br>| $1105 |
| Dev. Fin. Agcy., Rev. Bonds (Mass General Brigham, Inc.), Series 2020-A-2, 4.00% 7/1/2041  | 1000 | 995 |
| Dev. Fin. Agcy., Rev. Bonds (Partners Healthcare System Issue), Series 2017-S, 4.00% 7/1/2035  | 500 | 506 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2019-B, AMT, 5.00% 7/1/2026  | 500 | 504 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2022-M, AMT, 5.00% 7/1/2027  | 1000 | 1024 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2024-B, AMT, 4.25% 7/1/2032  | 80 | 82 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2023-B, AMT, 4.25% 7/1/2044  | 405 | 405 |
| GO Rev. Ref. Bonds, Series 2016-C, 5.00% 4/1/2026  | 1000 | 1006 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 223, 3.00% 6/1/2047  | 3775 | 3729 |
| School Building Auth., Sales Tax Rev. Ref. Bonds (Social Bonds), Series 2025-B, 5.00% 2/15/2036  | 2000 | 2348 |
| Transportation Fund Rev. Bonds (Rail Enhancement Program), Series 2025-A, 5.00% 6/1/2042  | 1275 | 1415 |
| Transportation Fund Rev. Bonds (Rail Enhancement Program), Series 2025-A, 5.00% 6/1/2043  | 1250 | 1371 |
| Transportation Fund Rev. Bonds (Rail Enhancement Program), Series 2025-A, 5.00% 6/1/2044  | 1250 | 1358 |
|  |  | 15848 |
| **Michigan 1.04%** | **Michigan 1.04%** | **Michigan 1.04%** |
| Building Auth., Rev. Bonds (Facs. Program), Series 2021-I, 4.00% 10/15/2041  | 500 | 505 |
| City of Detroit, Unlimited Tax GO Bonds, Series 2018, 5.00% 4/1/2030  | 1300 | 1351 |
| City of Detroit, Unlimited Tax GO Bonds, Series 2021-A, 5.00% 4/1/2046  | 1000 | 1010 |
| Fin. Auth., Hospital Rev and Rev. Ref. Bonds (Trinity Health Credit Group), Series 2016, 5.00% 12/1/2045  | 2855 | 2861 |
| Fin. Auth., Hospital Rev and Rev. Ref. Bonds (Trinity Health Credit Group), Series 2016, 5.00% 12/1/2045 (preref. <br> 6/1/2026)  | 145 | 146 |
| Fin. Auth., Hospital Rev. and Rev. Ref. Bonds (Trinity Health Credit Group), Series 2019-A, 5.00% 12/1/2041  | 500 | 522 |
| Fin. Auth., Tobacco Settlement Asset-Backed Bonds, Series 2020-A-1, 5.00% 6/1/2033  | 500 | 538 |
| Fin. Auth., Tobacco Settlement Asset-Backed Bonds, Series 2020-A-1, 4.00% 6/1/2035  | 1000 | 1019 |
| City of Flint, Hospital Building Auth., Rev. Rental Bonds (Hurley Medical Center), Series 2013-A, 5.25% 7/1/2039  | 190 | 190 |
| Great Lakes Water Auth., Water Supply System Rev. Ref. Bonds, Series 2018-A, 5.00% 7/1/2029  | 2000 | 2167 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (4401 Rosa Parks Apartments Project), Series 2025, 5.00% <br> 2/1/2028 (put 2/1/2027)  | 1430 | 1461 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (North Port Apartments Project), Series 2025, 5.00% 8/1/2027 <br> (put 8/1/2026)  | 3375 | 3414 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (The Dean Apartments At Eastlawn Project), Series 2025, 2.90% <br> 9/1/2045 (put 9/1/2028)  | 10000 | 9971 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2018-A, 4.00% 12/1/2048  | 1085 | 1089 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-A, 3.00% 6/1/2052  | 4790 | 4720 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2023-A, 5.50% 12/1/2053  | 1075 | 1157 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2023-B, 5.75% 6/1/2054  | 875 | 940 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2024-A, 6.00% 6/1/2054  | 1715 | 1862 |
| City of Lansing, Board of Water and Light, Utility System Rev. Ref. Bonds, Series 2024-A, 5.00% 7/1/2036  | 2830 | 3266 |
| City of Lansing, Board of Water and Light, Utility System Rev. Ref. Bonds, Series 2024-A, 5.00% 7/1/2049  | 1400 | 1463 |
| Board of Trustees of Michigan State University, Rev. Bonds, Series 2019-B, 5.00% 2/15/2031  | 1460 | 1568 |
| Board of Trustees of Michigan State University, Rev. Bonds, Series 2025-A, 5.00% 2/15/2035  | 3000 | 3536 |
| Strategic Fund, Exempt Facs. Rev. Bonds (Waste Management, Inc. Project), Series 2001, AMT, 0.58% 8/1/2027  | 1000 | 1003 |
| Strategic Fund, Limited Obligation Rev. and Rev. Ref. Bonds (Holland Home Obligated Group), Series 2019, 5.00% <br> 11/15/2034  | 1000 | 1034 |
| Strategic Fund, Limited Obligation Rev. and Rev. Ref. Bonds (United Methodist Retirement Communities, Inc. Project), <br> Series 2019, 5.00% 11/15/2034  | 1170 | 1199 |
| Strategic Fund, Limited Obligation Rev. Bonds (I-75 Improvement Project), Series 2018, AMT, 5.00% 12/31/2028  | 550 | 574 |
| Strategic Fund, Limited Obligation Rev. Green Bonds (Graphic Packaging International, LLC Coated Recycled Board <br> Machine Project), Series 2021, AMT, 4.00% 10/1/2061 (put 10/1/2026)  | 1375 | 1374 |
|  |  | 49940 |
| **Minnesota 0.88%** | **Minnesota 0.88%** | **Minnesota 0.88%** |
| GO State Trunk Highway Bonds, Series 2022-B, 5.00% 8/1/2026  | 165 | 167 |
| GO State Trunk Highway Bonds, Series 2025-B, 5.00% 8/1/2034  | 3395 | 3988 |
| GO State Trunk Highway Bonds, Series 2023-B, 5.00% 8/1/2036  | 2210 | 2532 |
| GO State Trunk Highway Rev. Ref. Bonds, Series 2023-E, 5.00% 8/1/2026  | 160 | 162 |
| GO State Trunk Highway Rev. Ref. Bonds, Series 2022-D, 5.00% 8/1/2029  | 1060 | 1153 |
| County of Hennepin, Housing and Redev. Auth., Multi Family Rev. Bonds (South Haven and Summit Point Apartments <br> Project), Series 2025, 3.15% 2/1/2046 (put 8/1/2028)  | 1290 | 1292 |
| Higher Education Supplemental Loan Auth., Rev. Bonds, Series 2023, AMT, 4.00% 11/1/2042  | 1420 | 1375 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **80** |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Minnesota (continued)** | **Minnesota (continued)** | **Minnesota (continued)** |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2020-E, 1.90% 7/1/2029  | USD<br> 735<br>| $699 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2020-I, 3.00% 1/1/2051  | 1235 | 1222 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2021-H, 3.00% 7/1/2052  | 1055 | 1040 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2025-C, 6.25% 7/1/2055  | 8275 | 9332 |
| City of Minneapolis, GO Bonds, Series 2025, 5.00% 12/1/2028  | 4315 | 4629 |
| Public Facs. Auth., State Revolving Fund Rev. Ref. Bonds, Series 2023-B, 5.00%, 3/1/2028  | 1940 | 2046 |
| City of St. Paul, Metropolitan Airports Commission, Airport Rev. Bonds, Series 2024-B, AMT, 5.00% 1/1/2038  | 5000 | 5457 |
| Various Purpose GO Bonds, Series 2024-A, 5.00% 8/1/2032  | 1245 | 1432 |
| Various Purpose GO Bonds, Series 2024-A, 5.00% 8/1/2036  | 3060 | 3558 |
| Various Purpose GO Rev. Ref. Bonds, Series 2023-D, 5.00% 8/1/2033  | 1840 | 2140 |
|  |  | 42224 |
| **Mississippi 0.66%** | **Mississippi 0.66%** | **Mississippi 0.66%** |
| Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron USA, Inc. Project), Series 2007-D, <br> 2.50% 12/1/2030 <sup>(b)</sup>  | 13190 | 13190 |
| Business Fin. Corp., Port Fac. Rev. Ref. Bonds (Chevron USA, Inc. Project), Series 2023, 2.50% 6/1/2043 <sup>(b)</sup>  | 11000 | 11000 |
| Business Fin. Corp., Solid Waste Disposal, Rev. Bonds (Waste Pro USA, Inc. Project), Series 2025-A, AMT, 4.375% <br> 2/1/2048 (put 8/2/2027) <sup>(a)</sup>  | 1000 | 1001 |
| Home Corp., Single Family Mortgage Rev. Bonds, Series 2021-B, 3.00% 6/1/2051  | 330 | 326 |
| Hospital Equipment and Facs. Auth., Rev. Bonds (Baptist Memorial Health Care), Series 2016, 5.00% 9/1/2036  | 1255 | 1263 |
| Hospital Equipment and Facs. Auth., Rev. Bonds (Baptist Memorial Health Care), Series 2016-A, 5.00% 9/1/2046  | 5135 | 5108 |
|  |  | 31888 |
| **Missouri 1.19%** | **Missouri 1.19%** | **Missouri 1.19%** |
| County of Cape Girardeau, Industrial Dev. Auth., Health Facs. Bonds (SoutheastHEALTH), Series 2017-A, 5.00% <br> 3/1/2036  | 735 | 747 |
| County of Cape Girardeau, Industrial Dev. Auth., Tax Increment and Special Dist. Rev. Bonds (Westpark Mall Redev. <br> Project), Series 2024, 5.50% 5/1/2044 <sup>(a)</sup>  | 500 | 483 |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (Bethesda Health Group, Inc.), Series 2021, 4.00% <br> 8/1/2029  | 385 | 384 |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (BJC Health System), Series 2021-A, 4.00% 7/1/2035  | 1315 | 1367 |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (CoxHealth), Series 2025-A, 5.00% 11/15/2035  | 4530 | 5146 |
| Health and Educational Facs. Auth., Health Facs. Rev. Ref. Bonds (St. Anthony's Medical Center), Series 2015-B, 5.00% <br> 2/1/2045  | 1200 | 1201 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2021, 4.00% <br> 2/1/2032  | 1100 | 1120 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Ref. Bonds (Lutheran Senior Services), Series 2016-A, <br> 5.00% 2/1/2046  | 1465 | 1436 |
| Highways and Transportation Commission, State Appropriations Mega Projects State Road Bonds, Series 2023-A, <br> 5.00% 5/1/2026  | 1000 | 1008 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds, Series 2025-D, 6.25% 5/1/2056  | 3625 | 4061 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series <br> 2020-C, 3.50% 11/1/2050  | 310 | 309 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series <br> 2023-B, 5.50% 5/1/2053  | 1030 | 1107 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series <br> 2023-E, 6.50% 5/1/2054  | 905 | 1016 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series <br> 2024-A, 5.75% 5/1/2055  | 9570 | 10519 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series <br> 2024-C, 6.00% 5/1/2055  | 1220 | 1352 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series <br> 2024-E, 6.00% 5/1/2055  | 7375 | 8198 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series <br> 2025-C, 5.75% 5/1/2056  | 6945 | 7586 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series <br> 2025-A, 6.00% 5/1/2056  | 3870 | 4242 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **81** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Missouri (continued)** | **Missouri (continued)** | **Missouri (continued)** |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series <br> 2025-F, 6.00% 5/1/2056  | USD<br> 3,780<br>| $4189 |
| City of Kansas City, Industrial Dev. Auth., Econ. Activity Tax Rev. Bonds (Historic Northeast Redev. Plan), Series <br> 2024-A-1, 5.00% 6/1/2046 <sup>(a)</sup>  | 975 | 951 |
| City of Kansas City, Planned Industrial Expansion Auth., Multi Family Housing Rev. Bonds (The Depot on Old Santa Fe), <br> Series 2023, 5.00% 7/1/2045 (put 7/1/2027)  | 750 | 765 |
|  |  | 57187 |
| **Montana 0.20%** | **Montana 0.20%** | **Montana 0.20%** |
| City of Forsyth, Pollution Control Rev. Ref. Bonds (Avista Corp. Colstrip Project), Series 2010-A, 3.875% 10/1/2032  | 1500 | 1545 |
| City of Forsyth, Pollution Control Rev. Ref. Bonds (Northwestern Corp. Colstrip Project), Series 2023, 3.875% 7/1/2028  | 2650 | 2694 |
| Board of Housing, Multi Family Housing Rev. Bonds (Twin Creek 4 Apartments Project), Series 2024, 5.00% 9/1/2028 <br> (put 9/1/2027)  | 382 | 395 |
| Board of Housing, Single Family Mortgage Bonds, Series 2020-C, 3.00% 12/1/2050  | 2140 | 2116 |
| Board of Housing, Single Family Mortgage Bonds, Series 2021-B, 3.00% 12/1/2051  | 1280 | 1264 |
| Board of Housing, Single Family Mortgage Bonds, Series 2024-B, 5.75% 6/1/2055  | 1580 | 1716 |
|  |  | 9730 |
| **Nebraska 0.30%** | **Nebraska 0.30%** | **Nebraska 0.30%** |
| Educational, Health, Cultural, and Social Sciences Fin. Auth., Rev. Bonds (Immanuel Retirement Communities <br> Obligated Group), Series 2019-A, 4.00% 1/1/2044  | 3020 | 2833 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2020-A, 2.35% 9/1/2035  | 500 | 434 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2018-C, 4.00% 9/1/2048  | 1340 | 1347 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2019, AMT, 3.75% 9/1/2049  | 550 | 549 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2020-C, 3.00% 9/1/2050  | 3940 | 3890 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2021-C, 3.00% 9/1/2050  | 4055 | 3995 |
| City of Omaha Airport Auth., Airport Facs. Rev. Bonds, Series 2024, AGI, AMT, 5.00% 12/15/2035  | 1250 | 1408 |
|  |  | 14456 |
| **Nevada 0.59%** | **Nevada 0.59%** | **Nevada 0.59%** |
| Dept. of Business and Industry, Lease Rev. Bonds (Somerset Academy), Series 2018-A, 4.50% 12/15/2029 <sup>(a)</sup>  | 310 | 310 |
| County of Clark, Limited Tax GO Park Improvement Bonds, Series 2018, 5.00% 12/1/2031  | 600 | 642 |
| County of Clark, Limited Tax GO Stadium Improvement Bonds, Series 2018-A, 5.00% 6/1/2033  | 515 | 542 |
| County of Clark, Limited Tax GO Stadium Improvement Bonds, Series 2018-A, 5.00% 6/1/2043  | 1500 | 1536 |
| County of Clark, Pollution Control Rev. Ref. Bonds (Southern California Edison Co.), Series 2010, 2.10% 6/1/2031  | 460 | 420 |
| Housing Division, Multi Unit Housing Rev. Bonds (Carville Park Apartments), Series 2024, 5.00% 7/1/2028 (put <br> 7/1/2027)  | 365 | 376 |
| City of Las Vegas, Redev. Agcy., Tax Increment Rev. Ref. Bonds, Series 2016, 5.00% 6/15/2045  | 1500 | 1494 |
| City of Las Vegas, Special Improvement Dist. No. 612 (Skye Hills), Local Improvement Bonds, Series 2020, 3.75% <br> 6/1/2042  | 910 | 820 |
| City of Las Vegas, Special Improvement Dist. No. 816 (Summerlin Village 22), Local Improvement Bonds, Series 2021, <br> 3.125% 6/1/2046  | 465 | 347 |
| City of Las Vegas, Special Improvement Dist. No. 817 (Summerlin Village 29), Local Improvement Bonds, Series 2023, <br> 5.50% 6/1/2038  | 375 | 404 |
| City of Las Vegas, Special Improvement Dist. No. 818 (Summerlin Village 27), Local Improvement Bonds, Series 2024, <br> 4.50% 12/1/2031  | 775 | 793 |
| Las Vegas Convention and Visitors Auth., Convention Center Expansion and Renovation Rev. Bonds, Series 2022-B, <br> 5.00% 7/1/2032  | 2000 | 2254 |
| Las Vegas Convention and Visitors Auth., Convention Center Expansion and Renovation Rev. Bonds, Series 2023-A, <br> 5.00% 7/1/2037  | 800 | 895 |
| Las Vegas Convention and Visitors Auth., Convention Center Expansion and Renovation Rev. Bonds, Series 2023-A, <br> 5.00% 7/1/2038  | 350 | 388 |
| Las Vegas Valley Water Dist., Limited Tax GO Water Improvement and Rev. Ref. Bonds, Series 2016-A, 5.00% 6/1/2036  | 1700 | 1713 |
| Las Vegas Valley Water Dist., Limited Tax GO Water Improvement Bonds, Series 2022-A, 4.00% 6/1/2035  | 500 | 525 |
| Las Vegas Valley Water Dist., Limited Tax GO Water Improvement Bonds, Series 2025-A, 5.00% 6/1/2044  | 7000 | 7547 |
| Las Vegas Valley Water Dist., Limited Tax GO Water Rev. Ref. Bonds, Series 2015-C, 5.00% 9/15/2027  | 4110 | 4111 |
| City of North Las Vegas, Special Improvement Dist. No. 65 (Northern Beltway Commercial Area), Local Improvement <br> Bonds, Series 2017, 4.00% 12/1/2027 <sup>(a)</sup>  | 195 | 195 |
| City of Reno Dist. No. 1, Special Assessment and Local Improvement Bonds (Quilici Ranch), Series 2025, 4.00% <br> 6/1/2030 <sup>(a)</sup>  | 530 | 531 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **82** |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Nevada (continued)** | **Nevada (continued)** | **Nevada (continued)** |
| Reno-Tahoe Airport Auth., Rev. Bonds, Series 2024-A, AMT, 5.00% 7/1/2030  | USD<br> 1,095<br>| $1176 |
| Reno-Tahoe Airport Auth., Rev. Bonds, Series 2024-A, AMT, 5.00% 7/1/2031  | 875 | 952 |
| City of Sparks, Special Improvement Dist. No. 1 (5 Ridges), Local Improvement Bonds, Series 2024, 5.00% 6/1/2039  | 435 | 454 |
|  |  | 28425 |
| **New Hampshire 1.82%** | **New Hampshire 1.82%** | **New Hampshire 1.82%** |
| Health and Education Facs. Auth., Education Loan Rev. Bonds (Granite Edvance Corp. Issue), Series 2024-B, AMT, <br> 4.00% 11/1/2044  | 325 | 315 |
| Health and Education Facs. Auth., Education Loan Rev. Bonds (New Hampshire Higher Education Loan Corp. Issue), <br> Series 2023-B, AMT, 5.00% 11/1/2043  | 1445 | 1529 |
| Health and Education Facs. Auth., Rev. Bonds (Dartmouth College Issue), Series 2007-B, 2.45% 6/1/2041 <sup>(b)</sup>  | 6200 | 6200 |
| Housing Fin. Auth., Single Family Mortgage Acquisition Rev. Bonds, Series 2024-E, 6.25% 7/1/2055  | 3340 | 3742 |
| Housing Fin. Auth., Single Family Mortgage Rev. Bonds, Series 2023-B, 6.00% 1/1/2055  | 180 | 193 |
| Housing Fin. Auth., Single Family Mortgage Rev. Bonds, Series 2023-C, 6.25% 1/1/2055  | 925 | 999 |
| National Fin. Auth., Affordable Housing Certs., Series 2024-1, Class A, 4.15% 10/20/2040 (put 10/1/2034)  | 3019 | 3022 |
| National Fin. Auth., Lease Rent Rev. Bonds (Centurion Foundation Woodway Drive, LLC), Series 2024-A, 4.53% <br> 10/15/2034 <sup>(a)</sup>  | 3250 | 3351 |
| National Fin. Auth., Lease Rent Rev. Bonds (Centurion Foundation Woodway Drive, LLC), Series 2025-A, 5.05% <br> 6/15/2035 <sup>(a)</sup>  | 2140 | 2223 |
| National Fin. Auth., Municipal Certs., Series 2020-1, Class A, 4.125% 1/20/2034  | 1422 | 1450 |
| National Fin. Auth., Municipal Certs., Series 2022-1, Class A, 4.375% 9/20/2036  | 4958 | 5051 |
| National Fin. Auth., Municipal Certs., Series 2022-2, Class A, 4.00% 10/20/2036  | 3967 | 3939 |
| National Fin. Auth., Municipal Certs., Series 2023-2, Class A, 3.875% 1/20/2038  | 3660 | 3539 |
| National Fin. Auth., Municipal Certs., Series 2024-2, Class X, 3.625% 8/20/2039  | 1582 | 1520 |
| National Fin. Auth., Municipal Certs., Series 2024-4, Class A-US, 4.064% 11/20/2039 <sup>(b)</sup>  | 3760 | 3749 |
| National Fin. Auth., Municipal Certs., Series 2024-4, Class B-CA, 3.81% 7/20/2040 <sup>(b)</sup>  | 1750 | 1617 |
| National Fin. Auth., Municipal Certs., Series 2025-1, Class A-1, 4.086% 1/20/2041 <sup>(b)</sup>  | 3060 | 3035 |
| National Fin. Auth., Municipal Certs., Series 2025-3, Class A-1, 4.795% 2/20/2041 <sup>(b)</sup>  | 11163 | 11708 |
| National Fin. Auth., Municipal Certs., Series 2024-1, Class A, 4.25% 7/20/2041  | 1068 | 1074 |
| National Fin. Auth., Municipal Certs., Series 2024-3, Class A, 4.034% 10/20/2041 <sup>(b)</sup>  | 8312 | 8248 |
| National Fin. Auth., Municipal Certs., Series 2024-4, Class B-US, 4.064% 5/20/2042 <sup>(b)</sup>  | 985 | 890 |
| National Fin. Auth., Resource Recovery Rev. Ref. Bonds (Covanta Project), Series 2018-A, AMT, 4.00% 11/1/2027 <sup>(a)</sup>  | 500 | 494 |
| National Fin. Auth., Rev. Bonds (Adventist Health Energy Projects), Series 2024-C, 5.25% 7/1/2049  | 2650 | 2678 |
| National Fin. Auth., Rev. Bonds (Winston-Salem Sustainable Energy Partners), Series 2025-A, 5.00% 12/1/2035  | 5745 | 6450 |
| National Fin. Auth., Rev. Bonds (Winston-Salem Sustainable Energy Partners), Series 2025-A, 5.25% 6/1/2044  | 4060 | 4267 |
| National Fin. Auth., Special Rev. Bonds (Grand Prairie Project), Series 2024, 5.875% 12/15/2032 <sup>(a)</sup>  | 4693 | 4675 |
| National Fin. Auth., Specialty Pharmacy Rev. Bonds (University Hospitals Home Care Services, Inc.), Series 2024-A, <br> 5.625% 12/15/2033 <sup>(a)</sup>  | 1120 | 1154 |
| National Fin. Auth., Specialty Pharmacy Rev. Bonds (University Hospitals Home Care Services, Inc.), Series 2024-A, <br> 6.25% 12/15/2038 <sup>(a)</sup>  | 490 | 515 |
|  |  | 87627 |
| **New Jersey 1.35%** | **New Jersey 1.35%** | **New Jersey 1.35%** |
| Covid-19 GO Emergency Bonds, Series 2020-A, 5.00% 6/1/2029  | 2410 | 2609 |
| Econ. Dev. Auth., Municipal Rehabilitation Rev. Ref. Bonds, Series 2019-A, 5.25% 4/1/2028  | 2715 | 2872 |
| Econ. Dev. Auth., Rev. Ref. Bonds (Provident Group - Rowan Properties, LLC - Rowan University Student Housing <br> Project), Series 2015-A, 5.00% 1/1/2035  | 375 | 375 |
| Econ. Dev. Auth., School Facs. Construction Bonds, Series 2018-EEE, 5.00% 6/15/2028  | 3000 | 3171 |
| Econ. Dev. Auth., School Facs. Construction Rev. Ref. Bonds, Series 2005-N-1, NATL, 5.50% 9/1/2027  | 1000 | 1048 |
| Econ. Dev. Auth., Special Fac. Rev. Bonds (Continental Airlines, Inc. Project), Series 1999, AMT, 5.25% 9/15/2029  | 2115 | 2118 |
| County of Gloucester, Improvement Auth., Rev. Ref. Bonds (Rowan University Project), Series 2017-A, AGI, 5.00% <br> 11/1/2028  | 1750 | 1782 |
| Health Care Facs. Fncg. Auth., Rev. Ref. Bonds (Hackensack Meridian Health Obligated Group Issue), Series 2017-A, <br> 5.00% 7/1/2032  | 500 | 516 |
| Health Care Facs. Fncg. Auth., Rev. Ref. Bonds (Hackensack Meridian Health Obligated Group Issue), Series 2017-A, <br> 5.00% 7/1/2037  | 470 | 483 |
| Health Care Facs. Fncg. Auth., Rev. Ref. Bonds (Hackensack Meridian Health Obligated Group Issue), Series 2017-A, <br> 5.00% 7/1/2038  | 1050 | 1078 |
| Health Care Facs. Fncg. Auth., Rev. Ref. Bonds (Hackensack Meridian Health Obligated Group Issue), Series 2017-A, <br> 5.00% 7/1/2039  | 610 | 625 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **83** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **New Jersey (continued)** | **New Jersey (continued)** | **New Jersey (continued)** |
| Health Care Facs. Fncg. Auth., Rev. Ref. Bonds (RWJ Barnabas Health Obligated Group Issue), Series 2016-A, 5.00% <br> 7/1/2033  | USD<br> 610<br>| $616 |
| Higher Education Student Assistance Auth., Student Loan Rev. and Rev. Ref. Bonds, Series 2022, AMT, 4.00% <br> 12/1/2041  | 635 | 632 |
| Higher Education Student Assistance Auth., Student Loan Rev. Bonds, Series 2015-1A, AMT, 5.00% 12/1/2031  | 2520 | 2681 |
| Higher Education Student Assistance Auth., Student Loan Rev. Bonds, Series 2015-1B, AMT, 5.00% 12/1/2033  | 3745 | 4089 |
| Higher Education Student Assistance Auth., Student Loan Rev. Bonds, Series 2019-B, AMT, 3.25% 12/1/2039  | 115 | 112 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2020-A, AMT, 3.50% 12/1/2039  | 680 | 668 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2023-B, AMT, 4.00% 12/1/2044  | 775 | 747 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2024-B, AMT, 4.25% 12/1/2045  | 595 | 595 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2020-E, 3.50% 4/1/2051  | 270 | 269 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2020-H, 3.00% 10/1/2052  | 1815 | 1782 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2023-J, 5.50% 4/1/2053  | 1355 | 1446 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2025-M, 6.50% 4/1/2056  | 6050 | 6798 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2023-AA, 5.00% 6/15/2034  | 2030 | 2310 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2023-AA, 5.00% 6/15/2035  | 700 | 792 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2023-BB, 5.00% 6/15/2037  | 630 | 708 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2025-AA, 5.00% 6/15/2039  | 2065 | 2332 |
| Transportation Trust Fund Auth., Transportation System Bonds, Series 2019-A, 5.00% 12/15/2027  | 520 | 544 |
| Transportation Trust Fund Auth., Transportation System Bonds, Series 2021-A, 5.00% 6/15/2028  | 1400 | 1480 |
| Transportation Trust Fund Auth., Transportation System Bonds, Series 2024-A, 5.00% 6/15/2034  | 6700 | 7733 |
| Transportation Trust Fund Auth., Transportation System Bonds, CAB, Series 2006-C, AMBAC, 0% 12/15/2026  | 500 | 487 |
| Transportation Trust Fund Auth., Transportation System Bonds, CAB, Series 2006-C, AMBAC, 0% 12/15/2028  | 590 | 541 |
| Transportation Trust Fund Auth., Transportation System Bonds, CAB, Series 2006-C, AMBAC, 0% 12/15/2035  | 550 | 391 |
| Turnpike Auth., Turnpike Rev. Bonds, Series 2025-B, 5.00% 1/1/2031  | 5000 | 5563 |
| Turnpike Auth., Turnpike Rev. Bonds, Series 2025-B, 5.00% 1/1/2034  | 4070 | 4707 |
|  |  | 64700 |
| **New Mexico 0.34%** | **New Mexico 0.34%** | **New Mexico 0.34%** |
| Aspire Public Improvement Dist., Special Levy Rev. Bonds, Series 2024, 5.05% 10/1/2044  | 550 | 538 |
| City of Farmington, Pollution Control Rev. Ref. Bonds (Public Service Co. of San Juan and Four Corners Projects), Series <br> 2016-B, 2.15% 4/1/2033  | 1750 | 1530 |
| City of Farmington, Pollution Control Rev. Ref. Bonds (Public Service Co. of San Juan Project), Series 2010-C, 3.875% <br> 6/1/2040 (put 6/1/2029)  | 450 | 457 |
| Fin. Auth., Rev. Bonds (Public Project Revolving Fund), Series 2025-B, 5.00% 6/15/2037  | 1275 | 1483 |
| Hospital Equipment Loan Council, Hospital System Rev. Bonds (Presbyterian Healthcare Services), Series 2017-A, <br> 4.00% 8/1/2037  | 1315 | 1318 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2020-A, Class I, 3.50% 1/1/2051  | 1235 | 1232 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2025-A, Class I, 5.75% 3/1/2056  | 3155 | 3473 |
| Municipal Energy Acquisition Auth., Gas Supply Rev. Ref. and Acquisition Bonds, Series 2025, 5.00% 6/1/2054 (put <br> 11/1/2030)  | 5785 | 6177 |
|  |  | 16208 |
| **New York 9.00%** | **New York 9.00%** | **New York 9.00%** |
| City of Albany Capital Resource Corp., Rev. Bonds (Kipp Capital Region Public Charter Schools Project), Series 2024, <br> 4.50% 6/1/2044  | 400 | 379 |
| Town of Brookhaven Local Dev. Corp., Rev. Ref. Bonds (Active Retirement Community, Inc.), Series 2016, 5.25% <br> 11/1/2030  | 830 | 843 |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Series 2016-A, 5.00% 7/15/2026  | 1170 | 1178 |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Series 2016-A, 5.00% 7/15/2042  | 500 | 501 |
| Build NYC Resource Corp., Rev. Ref. Bonds (Albert Einstein School of Medicine, Inc. Project), Series 2015, 5.50% <br> 9/1/2045 <sup>(a)</sup>  | 465 | 460 |
| Dormitory Auth., Rev. Bonds (Roswell Park Cancer Institute Obligated Group), Series 2025-A, AGI, 5.25% 7/1/2041  | 1300 | 1453 |
| Dormitory Auth., Rev. Bonds (Roswell Park Cancer Institute Obligated Group), Series 2025-A, AGI, 5.25% 7/1/2044  | 1100 | 1189 |
| Dormitory Auth., Rev. Bonds (White Plains Hospital Obligated Group), Series 2024, 5.00% 10/1/2033  | 1100 | 1209 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2021-A, 5.00% 3/15/2031  | 2500 | 2806 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2025-A, 5.00% 3/15/2032  | 3030 | 3456 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 4.00% 3/15/2037  | 1040 | 1063 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2024-A, 5.00% 3/15/2040  | 2655 | 2939 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2025-C, 5.00% 3/15/2041  | 685 | 760 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2021-E, 4.00% 3/15/2042  | 1135 | 1111 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **84** |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **New York (continued)** | **New York (continued)** | **New York (continued)** |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2025-C, 5.00% 3/15/2042  | USD<br> 1,065<br>| $1166 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2024, 5.00% 3/15/2045  | 895 | 940 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2023-A-1, 5.00% 3/15/2029 (escrowed to maturity)  | 5515 | 5936 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2023-A-1, 5.00% 3/15/2029  | 685 | 740 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2025-A, 5.00% 3/15/2038  | 2000 | 2313 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2018-E, 5.00% 3/15/2039  | 805 | 842 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2025-A, 5.00% 3/15/2041  | 3310 | 3683 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2025-A, 5.00% 3/15/2043  | 2500 | 2711 |
| Energy Fin. Dev. Corp., Energy Supply Rev. Bonds, Series 2025, 5.00% 7/1/2056 (put 12/1/2033)  | 2400 | 2545 |
| Energy Research and Dev. Auth., Pollution Control Rev. Bonds (New York State Electric & Gas Corp. Project), Series <br> 2004-C, 4.00% 4/1/2034  | 120 | 124 |
| Environmental Facs. Corp., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2014-R-2, <br> AMT, 3.125% 12/1/2044 (put 6/1/2026) <sup>(a)</sup>  | 500 | 498 |
| Environmental Facs. Corp., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2020-R-1, <br> 4.25% 9/1/2050 (put 9/3/2030) <sup>(a)</sup>  | 475 | 477 |
| Environmental Facs. Corp., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2022-R-2, <br> AMT, 5.125% 9/1/2050 (put 9/3/2030) <sup>(a)</sup>  | 500 | 520 |
| Housing Fin. Agcy., 160 West 62nd Street Housing Rev. Bonds, Series 2011-A-1, 3.60% 11/1/2044 (put 4/1/2032)  | 1275 | 1296 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2020-L-1, 2.10% 11/1/2035  | 2000 | 1702 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2023-A-2, 3.60% 11/1/2062 (put 5/1/2027)  | 720 | 720 |
| Liberty Dev. Corp., Liberty Rev. Ref. Green Bonds (4 World Trade Center Project), Series 2021-A, 2.875% 11/15/2046  | 995 | 724 |
| Metropolitan Transportation Auth., Dedicated Tax Fund Green Bonds, Series 2024-B, 5.00% 11/15/2041  | 910 | 1003 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2015-A-2, 5.00% 11/15/2045 (put 5/15/2030)  | 1500 | 1618 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2021-A-1, 4.00% 11/15/2045  | 1810 | 1645 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2017-D, 5.00% 11/15/2035  | 2600 | 2709 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 5.00% 11/15/2028  | 3330 | 3499 |
| County of Monroe, Industrial Dev. Agcy., Multi Family Housing Rev. Bonds (Andrews Terrace Community Partners, L.P. <br> Project), Series 2023-B-1, 5.00% 7/1/2028 (put 7/1/2026)  | 1360 | 1400 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 213, 4.25% 10/1/2047  | 170 | 171 |
| New York City GO Bonds, Fiscal 2009, Series 2009-B-3, 5.00% 9/1/2027  | 4000 | 4168 |
| New York City GO Bonds, Fiscal 2010, Series 2010-G-4, 3.30% 3/1/2039 <sup>(b)</sup>  | 4440 | 4440 |
| New York City GO Bonds, Fiscal 2016, Series 2016-E, 5.00% 8/1/2028  | 1135 | 1150 |
| New York City GO Bonds, Fiscal 2020, Series 2020-D-1, 5.00% 3/1/2039  | 5415 | 5740 |
| New York City GO Bonds, Fiscal 2022, Series 2022-B, 5.00% 8/1/2031  | 3065 | 3433 |
| New York City GO Bonds, Fiscal 2022, Series 2022-B-1, 5.00% 8/1/2036  | 1750 | 1939 |
| New York City GO Bonds, Fiscal 2023, Series 2023-1, 5.00% 8/1/2036  | 890 | 1002 |
| New York City GO Bonds, Fiscal 2024, Series 2024-C, 5.00% 3/1/2026  | 1415 | 1421 |
| New York City GO Bonds, Fiscal 2024, Series 2024-C, 5.00% 3/1/2042  | 1005 | 1079 |
| New York City GO Bonds, Fiscal 2025, Series 2025-F, 5.00% 8/1/2034  | 7585 | 8778 |
| New York City GO Bonds, Fiscal 2025, Series 2025-C-1, 5.00% 9/1/2040  | 1390 | 1524 |
| New York City GO Bonds, Fiscal 2025, Series 2025-G, 5.00% 2/1/2042  | 4150 | 4498 |
| New York City GO Bonds, Fiscal 2025, Series 2025-E, 5.00% 8/1/2042  | 1935 | 2090 |
| New York City GO Bonds, Fiscal 2026, Series 2026-D, 5.00% 10/1/2037  | 3885 | 4406 |
| New York City GO Bonds, Fiscal 2026, Series 2026-D, 5.00% 10/1/2038  | 7500 | 8459 |
| New York City GO Bonds, Fiscal 2026, Series 2026-D, 5.00% 10/1/2041  | 3645 | 3988 |
| New York City GO Bonds, Fiscal 2026, Series 2026-D, 5.00% 10/1/2042  | 4285 | 4649 |
| New York City GO Bonds, Fiscal 2026, Series 2026-A-1, 5.00% 8/1/2044  | 5000 | 5315 |
| New York City GO Bonds, Fiscal 2026, Series 2026-D, 5.00% 10/1/2048  | 5250 | 5435 |
| New York City Health and Hospitals Corp., Health System Bonds, Series 2020-A, 3.00% 2/15/2026  | 1440 | 1441 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Dev. Bonds), Series 2020-A-1-B, <br> 2.05% 11/1/2031  | 530 | 485 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Dev. Bonds), Series 2026-A-2, 3.25% <br> 11/1/2065 (put 2/1/2030)  | 9000 | 9043 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds), Series 2021-F-1, <br> 2.40% 11/1/2046  | 500 | 340 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds), Series 2025-C-2, <br> 3.75% 5/1/2065 (put 7/2/2029)  | 2220 | 2255 |
| New York City Housing Dev. Corp., Multi Family Mortgage Rev. Bonds (8 Spruce Street), Series 2024-F, 5.25% <br> 12/15/2031 <sup>(a)</sup>  | 900 | 929 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Queens Baseball Stadium Project), Series 2021-A, AGI, <br> 5.00% 1/1/2031  | 2250 | 2478 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Queens Baseball Stadium Project), Series 2021-A, AGI, <br> 2.00% 1/1/2038  | 2375 | 1852 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **85** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **New York (continued)** | **New York (continued)** | **New York (continued)** |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series <br> 2020-EE, 5.00% 6/15/2031  | USD<br> 1,485<br>| $1683 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series <br> 2021-DD, 5.00% 6/15/2031  | 1890 | 2142 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series <br> 2020-CC-1, 4.00% 6/15/2037  | 750 | 760 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series <br> 2020-DD-3, 4.00% 6/15/2042  | 1170 | 1159 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series <br> 2015-BB-4, 2.50% 6/15/2050 <sup>(b)</sup>  | 18750 | 18750 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Fiscal <br> 2023, Series 2023-CC, 2.50% 6/15/2053 <sup>(b)</sup>  | 20800 | 20800 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Fiscal <br> 2025, Series 2025-CC, 5.00% 6/15/2037  | 13000 | 14995 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Fiscal <br> 2025, Series 2025-BB, 5.00% 6/15/2043  | 2000 | 2177 |
| New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Series 2026-S-2, 5.00% 7/15/2035  | 4360 | 5169 |
| New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Series 2026-S-2, 5.00% 7/15/2040  | 3270 | 3680 |
| New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Series 2026-S-2, 5.00% 7/15/2043  | 1650 | 1795 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2016, Series 2016-B-1, 5.00% 11/1/2034  | 500 | 501 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2020, Series 2020-A-2, 5.00% 5/1/2039  | 570 | 600 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2021, Series 2021-C-1, 4.00% 5/1/2035  | 645 | 664 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2023, Series 2023-E, 5.00% 11/1/2032  | 2420 | 2764 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2023, Series 2023-E-1, 5.00% 11/1/2041  | 2160 | 2343 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2024, Series 2024-B, 5.00% 5/1/2036  | 3010 | 3425 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2024, Series 2024-D, 5.00% 11/1/2038  | 1680 | 1883 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2024, Series 2024-B, 5.00% 5/1/2040  | 2000 | 2194 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2024, Series 2024-G-1, 5.00% 5/1/2040  | 1000 | 1098 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2024, Series 2024-F-1, 5.00% 2/1/2042  | 1125 | 1206 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2024, Series 2024-G, 5.00% 5/1/2042  | 2085 | 2240 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-A-A1, 5.00% 11/1/2027  | 1020 | 1065 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2026, Series 2026-D-1, 5.00% 11/1/2027  | 1230 | 1283 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-A-1, 5.00% 11/1/2030  | 3670 | 4079 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-A, 5.00% 11/1/2031  | 1860 | 2102 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-G-1, 5.00% 11/1/2032  | 3000 | 3427 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-A, 5.00% 11/1/2035  | 1250 | 1449 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-F-F1, 5.00% 11/1/2035  | 1000 | 1175 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-D, 5.00% 5/1/2036  | 4760 | 5490 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-A, 5.00% 11/1/2036  | 1100 | 1263 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-D, 5.00% 5/1/2037  | 2335 | 2666 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-A-1, 5.00% 11/1/2037  | 2955 | 3361 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-A, 5.00% 11/1/2038  | 8480 | 9555 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-F-F1, 5.00% 11/1/2038  | 4185 | 4741 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-A, 5.00% 11/1/2039  | 6080 | 6787 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-A-1, 5.00% 11/1/2040  | 1550 | 1709 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-D, 5.00% 5/1/2041  | 2005 | 2188 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-C-C1, 5.00% 5/1/2045  | 1120 | 1181 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-E, 5.00% 11/1/2046  | 6000 | 6283 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-H-1, 5.00% 11/1/2046  | 4695 | 4927 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-H-1, 5.25% 11/1/2048  | 1230 | 1303 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2026, Series 2026-D-1, 5.00% 11/1/2037  | 4000 | 4623 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2026, Series 2026-D-1, 5.00% 11/1/2040  | 1550 | 1732 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2026, Series 2026-D-1, 5.00% 11/1/2041  | 1250 | 1379 |
| Oneida Indian Nation, Tax Rev. Bonds, Series 2024-B, 6.00% 9/1/2043 <sup>(a)</sup>  | 465 | 502 |
| Onongada Civic Dev. Corp., Rev. Bonds (Syracuse University Project), Series 2025, 5.25% 12/1/2044  | 1325 | 1460 |
| Port Auth., Consolidated Bonds, Series 246, AMT, 5.00% 9/1/2028  | 2000 | 2103 |
| Port Auth., Consolidated Bonds, Series 227, AMT, 3.00% 10/1/2028  | 1000 | 998 |
| Port Auth., Consolidated Bonds, Series 221, AMT, 4.00% 7/15/2038  | 900 | 901 |
| Port Auth., Consolidated Bonds, Series 221, AMT, 4.00% 7/15/2039  | 1120 | 1118 |
| Rockland County Econ. Assistance Corp., Rev. Bonds (Bon Secours Charity Health System Project), Series 2025, AGI, <br> 6.50% 11/1/2055  | 1020 | 1151 |
| Rockland County Econ. Assistance Corp., Rev. Bonds (Bon Secours Charity Health System Project), Series 2025, 7.50% <br> 11/1/2055  | 2780 | 2986 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **86** |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **New York (continued)** | **New York (continued)** | **New York (continued)** |
| Suffolk County Econ. Dev. Corp., Rev. Bonds (Peconic Landing at Southold, Inc. Project), Series 2019-B, 5.00% <br> 12/1/2034  | USD<br> 1,000<br>| $1040 |
| Suffolk Regional Off-Track Betting Corp., Rev. Bonds, Series 2024, 5.75% 12/1/2044  | 1000 | 1019 |
| Sullivan County Infrastructure Local Dev. Corp., Rev. Bonds (Adelaar Infrastructure Project), Series 2016-A-1, 4.85% <br> 11/1/2031 <sup>(a)</sup>  | 755 | 762 |
| Sullivan County Infrastructure Local Dev. Corp., Rev. Bonds (Adelaar Infrastructure Project), Series 2016-C-2, 5.35% <br> 11/1/2049 <sup>(a)</sup>  | 1160 | 1161 |
| Sullivan County Infrastructure Local Dev. Corp., Rev. Bonds (Adelaar Infrastructure Project), Series 2016-D-2, 5.35% <br> 11/1/2049 <sup>(a)</sup>  | 1050 | 1051 |
| Thruway Auth., General Rev. Bonds, Series 2021-O, 4.00% 1/1/2040  | 1000 | 1010 |
| Thruway Auth., Personal Income Tax Rev. Bonds, Series 2022-A-1, 5.00% 3/15/2041  | 1040 | 1120 |
| Thruway Auth., Personal Income Tax Rev. Bonds, Series 2025-A, 4.00% 3/15/2044  | 15000 | 16014 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (American Airlines, Inc. John F. Kennedy International Airport <br> Project), Series 2021, AMT, 2.25% 8/1/2026  | 280 | 278 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2020-A, AMT, 5.00% 12/1/2028  | 1350 | 1416 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2020-A, AMT, 5.00% 12/1/2033  | 1150 | 1221 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2020-C, 5.00% 12/1/2033  | 500 | 545 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2022, AMT, 5.00% 12/1/2033  | 4390 | 4773 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2020-C, 5.00% 12/1/2034  | 2240 | 2436 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2022, AMT, 5.00% 12/1/2035  | 2750 | 2957 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2020-A, AMT, 4.00% 12/1/2036  | 1600 | 1677 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2022, AMT, 5.00% 12/1/2041  | 750 | 775 |
| Transportation Dev. Corp., Special Fac. Rev. Ref. Bonds (American Airlines, Inc. John F. Kennedy International Airport <br> Project), Series 2016, AMT, 5.00% 8/1/2026  | 2510 | 2513 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2018, AMT, 5.00% 1/1/2028  | 1250 | 1291 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2018, AMT, 5.00% 1/1/2029  | 2000 | 2062 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2020, AMT, 4.00% 10/1/2030  | 2500 | 2550 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2018, AMT, 5.00% 1/1/2033  | 1500 | 1539 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2023, AMT, 6.00% 4/1/2035  | 3000 | 3308 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2020, AMT, 5.00% 10/1/2035  | 2265 | 2364 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2020, AMT, 5.00% 10/1/2040  | 2150 | 2181 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2020, AMT, 4.375% 10/1/2045  | 4855 | 4527 |
| Transportation Dev. Corp., Special Facs. Rev. Green Bonds (John. F. Kennedy International Airport New Terminal One <br> Project), Series 2023, AMT, AGI, 5.50% 6/30/2042  | 1000 | 1058 |
| Transportation Dev. Corp., Special Facs. Rev. Green Bonds (John. F. Kennedy International Airport New Terminal One <br> Project), Series 2024, AMT, 5.25% 6/30/2044  | 1000 | 1023 |
| Triborough Bridge and Tunnel Auth., General Rev. Bonds (MTA Bridges and Tunnels), Series 2023-B-1, 5.00% <br> 11/15/2040  | 1000 | 1105 |
| Triborough Bridge and Tunnel Auth., General Rev. Bonds (MTA Bridges and Tunnels), Series 2025-A, 5.00% <br> 11/15/2042  | 1250 | 1377 |
| Triborough Bridge and Tunnel Auth., Payroll Mobility Tax Rev. Ref. Green Bonds (MTA Bridges and Tunnels), Series <br> 2023-A, 5.00% 11/15/2034  | 575 | 660 |
| Triborough Bridge and Tunnel Auth., Real Estate Transfer Tax Rev. Bonds (MTA Bridges and Tunnels), Series 2025-A, <br> 5.00% 12/1/2036  | 1000 | 1172 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2022-A, 5.00% 9/15/2031  | 1625 | 1845 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 4.00% 3/15/2037  | 1015 | 1031 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-E, 4.00% 3/15/2038  | 1510 | 1526 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **87** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **New York (continued)** | **New York (continued)** | **New York (continued)** |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 5.00% 3/15/2038  | USD<br> 1,180<br>| $1274 |
| Urban Dev. Corp., State Sales Tax Rev. Bonds, Series 2021-A, 4.00% 3/15/2039  | 2500 | 2532 |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2025-TE-2, 5.00% 12/15/2032  | 4255 | 4743 |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2025-TE-2, 5.00% 6/15/2033  | 7895 | 8866 |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2025-TE-2, 5.00% 6/15/2035  | 6000 | 6914 |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2025-TE-2, 5.00% 12/15/2035  | 5000 | 5789 |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2023-TE-1, 5.00% 12/15/2041  | 840 | 932 |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2025-TE-2, 5.00% 12/15/2041  | 1190 | 1340 |
|  |  | 432458 |
| **North Carolina 1.24%** | **North Carolina 1.24%** | **North Carolina 1.24%** |
| City of Charlotte, Charlotte Douglas International Airport, Airport Rev. Bonds, Series 2019-B, AMT, 5.00% 7/1/2030  | 500 | 534 |
| City of Durham, Housing Auth. Multi Family Housing Rev. Bonds (Page Corners Apartments), Series 2025, 3.15% <br> 7/1/2059 (put 7/1/2028)  | 1345 | 1349 |
| Educational Assistance Auth., Student Loan Rev. Bonds, Series 2023-A, AMT, 5.00% 6/1/2043  | 740 | 771 |
| Educational Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2025-A, AMT, 5.00% 6/1/2034  | 4350 | 4629 |
| Educational Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2025-A, AMT, 5.00% 6/1/2045  | 6350 | 6654 |
| GO School Bonds, Series 2023, 5.00% 9/1/2029  | 2185 | 2387 |
| GO School Bonds, Series 2023, 5.00% 9/1/2030  | 2500 | 2791 |
| County of Guilford, GO Rev. Ref. Bonds, Series 2017, 5.00% 3/1/2026  | 150 | 151 |
| Hospital Auth., Health Care Rev. Ref. Bonds (Charlotte-Mecklenburg Hospital), Series 2016-A, 5.00% 1/15/2034  | 4200 | 4207 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 49, 6.00% 7/1/2053  | 5290 | 5600 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 50, 5.50% 1/1/2054  | 635 | 677 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 53-A, 6.25% 1/1/2055  | 540 | 584 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 54-A, 6.25% 1/1/2055  | 1595 | 1777 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 55-A, 6.25% 7/1/2055  | 3715 | 4079 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 57-A, 6.25% 1/1/2056  | 2475 | 2784 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 59-A, 6.25% 1/1/2057  | 2485 | 2835 |
| Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 42, 4.00% 1/1/2050  | 395 | 396 |
| Inlivian Multi Family Housing Rev. Bonds (Central at Old Concord), Series 2025, 3.30% 11/10/2043 (put 11/1/2028)  | 435 | 439 |
| Limited Obligation Rev. Ref. Bonds, Series 2026-A, 5.00% 6/1/2027  | 4000 | 4119 |
| Limited Obligation Rev. Ref. Bonds, Series 2025-B, 5.00% 5/1/2028  | 1840 | 1946 |
| Medical Care Commission, Health Care Facs. First Mortgage Rev. Bonds (Deerfield Episcopal Retirement Community), <br> Series 2026-B-1, 4.00% 11/1/2031  | 3000 | 3002 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Lutheran Retirement Ministries Project), Series <br> 2019-A, 5.00% 1/1/2038  | 800 | 818 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Penick Village Project), Series 2024-B-3, 4.25% <br> 9/1/2028  | 565 | 565 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Penick Village Project), Series 2024-B-2, 4.50% <br> 9/1/2029  | 115 | 115 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Penick Village Project), Series 2024-B-1, 4.75% <br> 9/1/2029  | 85 | 85 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Penick Village Project), Series 2024-A, 5.00% <br> 9/1/2034  | 900 | 951 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (The United Methodist Retirement Homes <br> Project), Series 2024-A, 5.00% 10/1/2039  | 500 | 523 |
| Town of Morehead City, Multi Family Housing Rev. Bonds (Elijah's Landing), Series 2024, 4.05% 1/1/2028 (put <br> 1/1/2027)  | 1360 | 1373 |
| City of Raleigh, Housing Auth., Multi Family Housing Rev. Bonds (Tyron Flats), Series 2025, 2.95% 9/1/2059 (put <br> 3/1/2029)  | 2370 | 2367 |
| Turnpike Auth., Triangle Expressway System, Appropriation Rev. Bonds, CAB, Series 2019, 0% 1/1/2043  | 560 | 261 |
| City of Wilmington Housing Auth., Multi Family Housing Rev. Bonds (Avenue Flats), Series 2025, 2.95% 5/1/2044 (put <br> 5/1/2028)  | 800 | 800 |
|  |  | 59569 |
| **North Dakota 0.17%** | **North Dakota 0.17%** | **North Dakota 0.17%** |
| County of Cass, Joint Water Resource Dist., Temporary Rev. Ref. Improvement Bonds, Series 2024-A, 3.45% 4/1/2027  | 300 | 300 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2018-A, 4.00% 1/1/2049  | 1570 | 1573 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2021-A, 3.00% 1/1/2052  | 985 | 973 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2021-B, 3.00% 7/1/2052  | 1880 | 1848 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2023-A, 5.75% 7/1/2053  | 600 | 635 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **88** |

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------

Capital Group Municipal Income ETF (continued)

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| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **North Dakota (continued)** | **North Dakota (continued)** | **North Dakota (continued)** |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2023-D, 5.75% 1/1/2054  | USD<br> 105<br>| $112 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2024-D, 6.00% 7/1/2055  | 1860 | 2070 |
| County of Ward, Health Care Facs. Rev. Bonds (Trinity Obligated Group), Series 2017-C, 5.00% 6/1/2038  | 500 | 487 |
|  |  | 7998 |
| **Ohio 2.74%** | **Ohio 2.74%** | **Ohio 2.74%** |
| Air Quality Dev. Auth. Rev. Ref. Bonds, (American Electric Power Co. Project), Series 2005-C, AMT, 3.70% 4/1/2028  | 4015 | 4027 |
| Air Quality Dev. Auth. Rev. Ref. Bonds, (American Electric Power Co. Project), Series 2005-A, AMT, 3.75% 1/1/2029  | 1000 | 1006 |
| Air Quality Dev. Auth., Air Quality Dev. Rev. Ref. Bonds (Duke Energy Corp. Project), Series 2022-B, AMT, 4.25% <br> 11/1/2039 (put 6/1/2027)  | 1000 | 1016 |
| Air Quality Dev. Auth., Air Quality Rev. Ref. Bonds (American Electric Co. Project), Series 2007-B, AMT, 2.50% <br> 11/1/2042 (put 10/1/2029)  | 1000 | 957 |
| Air Quality Dev. Auth., Air Quality Rev. Ref. Bonds (Ohio Valley Electric Corp. Project), Series 2019-A, 3.25% 9/1/2029  | 3030 | 3022 |
| Air Quality Dev. Auth., Exempt Facs. Rev. Bonds (Pratt Paper (OH), LLC Project), Series 2017, AMT, 3.75% 1/15/2028 <sup>(a)</sup>  | 655 | 656 |
| Air Quality Dev. Auth., Exempt Facs. Rev. Bonds (Pratt Paper (OH), LLC Project), Series 2017, AMT, 4.25% 1/15/2038 <sup>(a)</sup>  | 8000 | 8009 |
| Air Quality Dev. Auth., Exempt Facs. Rev. Bonds (Pratt Paper (OH), LLC Project), Series 2017, AMT, 4.50% 1/15/2048 <sup>(a)</sup>  | 1000 | 924 |
| Buckeye Tobacco Settlement Fncg. Auth., Tobacco Settlement Asset-Backed Rev. Ref. Bonds, Series 2020-A-2, Class 1, <br> 5.00% 6/1/2033  | 750 | 800 |
| Buckeye Tobacco Settlement Fncg. Auth., Tobacco Settlement Asset-Backed Rev. Ref. Bonds, Series 2020-A-2, 5.00% <br> 6/1/2035  | 540 | 569 |
| Buckeye Tobacco Settlement Fncg. Auth., Tobacco Settlement Asset-Backed Rev. Ref. Bonds, Series 2020-A-2, 4.00% <br> 6/1/2038  | 1000 | 980 |
| County of Butler, Port Auth. Econ. Dev. Facs., Rev. Ref. Bonds (Community First Solutions), Series 2021-A, 4.00% <br> 5/15/2046  | 1000 | 844 |
| Capital Facs. Lease Appropriation Bonds, Series 2021-A, 5.00% 2/1/2027  | 1000 | 1027 |
| Capital Facs. Lease Appropriation Bonds, Series 2025-B, 5.00% 10/1/2039  | 1720 | 1944 |
| Capital Facs. Lease Appropriation Bonds (Administrative Building Fund Projects), Series 2025-B, 5.00% 10/1/2037  | 3225 | 3691 |
| Capital Facs. Lease Appropriation Bonds (Administrative Building Fund Projects), Series 2025-B, 5.00% 10/1/2038  | 2850 | 3242 |
| Capital Facs. Lease Appropriation Bonds (Administrative Building Fund Projects), Series 2025-B, 5.00% 10/1/2039  | 2080 | 2327 |
| Cleveland-Cuyahoga Port Auth., Lease Rev. Ref. and Improvement Bonds (Constellation Schools Project), Series <br> 2024-A, 5.25% 1/1/2034 <sup>(a)</sup>  | 750 | 781 |
| Cleveland-Cuyahoga Port Auth., Tax Increment Fncg. Rev. and Rev. Ref. Bonds (Flats East Bank Project), Series 2021-A, <br> 4.00% 12/1/2055 <sup>(a)</sup>  | 250 | 192 |
| Columbus Regional Airport Auth., Airport Rev. Bonds (John Glenn Columbus International Airport), Series 2025-A, <br> AMT, 5.00% 1/1/2033  | 1800 | 2001 |
| Columbus-Franklin County Fin. Auth., Multi Family Housing Rev. Bonds (Dering Family Homes Project), Series 2023, <br> 5.00% 7/1/2045 (put 2/1/2027)  | 840 | 852 |
| Common Schools GO Bonds, Series 2025-A, 5.00% 6/15/2035  | 1000 | 1185 |
| County of Cuyahoga, Metropolitan Housing Auth., Multi Family Housing Rev. Bonds (Wade Park Apartments), Series <br> 2022, 3.32% 12/1/2027 (put 6/1/2026)  | 1595 | 1596 |
| County of Franklin, Health Care Facs. Rev. Ref. Bonds (Ohio Living Communities), Series 2022, 4.00% 7/1/2033  | 2000 | 2000 |
| County of Franklin, Health Care Facs. Rev. Ref. Bonds (Ohio Living Communities), Series 2022, 4.00% 7/1/2036  | 2000 | 1969 |
| County of Franklin, Hospital Facs. Rev. Bonds (OhioHealth Corp.), Series 2015, 5.00% 5/15/2040  | 3380 | 3386 |
| County of Franklin, Hospital Facs. Rev. Bonds (OhioHealth Corp.), Series 2015, 5.00% 5/15/2045  | 1860 | 1863 |
| County of Franklin, Hospital Facs. Rev. Ref. Bonds (Nationwide Children's Hospital), Series 2016-C, 5.00% 11/1/2031  | 540 | 603 |
| County of Franklin, Hospital Facs. Rev. Ref. Bonds (Nationwide Children's Hospital), Series 2016-C, 4.00% 11/1/2040  | 1000 | 1000 |
| GO Higher Education Bonds, Series 2025-A, 5.00% 5/1/2042  | 2500 | 2746 |
| GO Infrastructure Improvement Bonds, Series 2025-A, 5.00% 3/1/2032  | 1375 | 1572 |
| County of Hamilton, Healthcare Rev. Bonds (Life Enriching Communities Project), Series 2023-A, 5.50% 1/1/2043  | 500 | 520 |
| County of Hamilton, Hospital Facs. Rev. Bonds (UC Health), Series 2025-A, 5.50% 8/1/2038  | 2075 | 2324 |
| County of Hamilton, Hospital Facs. Rev. Bonds (UC Health), Series 2025-A, 5.50% 8/1/2041  | 3825 | 4125 |
| County of Hamilton, Hospital Facs. Rev. Bonds (UC Health), Series 2025-A, 5.50% 8/1/2042  | 925 | 987 |
| County of Hamilton, Metropolitan Sewer Dist. of Greater Cincinnati, Sewer System Rev. Ref. Bonds, Series 2024-B, <br> 5.00% 12/1/2031  | 1000 | 1136 |
| Higher Educational Facs. Commission, Hospital Parking Rev. Bonds (University Circle, Inc. 2020 Project), Series 2020, <br> 5.00% 1/15/2038  | 2265 | 2347 |
| Hospital Facs. Rev. Bonds (Children's Hospital Medical Center of Akron), Series 2024-B, 5.00% 8/15/2054 (put <br> 8/15/2032)  | 3205 | 3549 |
| Hospital Rev. Bonds (Aultman Health Foundation), Series 2018, 5.00% 12/1/2033 <sup>(a)</sup>  | 420 | 425 |
| Hospital Rev. Bonds (Aultman Health Foundation), Series 2018, 5.00% 12/1/2038 <sup>(a)</sup>  | 250 | 248 |
| Hospital Rev. Ref. Bonds (Cleveland Clinic Health System Obligated Group), Series 2017-A, 3.25% 1/1/2035  | 1000 | 989 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **89** | Capital Group Fixed Income ETF Trust |

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------

Capital Group Municipal Income ETF (continued)

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| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Ohio (continued)** | **Ohio (continued)** | **Ohio (continued)** |
| Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Harding Heights Apartments Project), Series 2025, 3.15% <br> 7/1/2045 (put 7/1/2028)  | USD<br> 3,270<br>| $3274 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2019-A, 4.50% <br> 9/1/2049  | 2115 | 2137 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2022-A, 3.25% <br> 9/1/2052  | 545 | 540 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2023-A, 5.50% <br> 3/1/2053  | 855 | 903 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2024-A, 6.25% <br> 3/1/2055  | 715 | 777 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2024-B, 6.25% <br> 3/1/2055  | 2420 | 2652 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2025-B, 6.50% <br> 3/1/2056  | 5000 | 5706 |
| County of Lucas, Hospital Rev. Bonds (Promedica Healthcare Obligated Group), Series 2015-B, 4.00% 11/15/2045  | 1895 | 1653 |
| Miami University, General Receipts and Rev. Ref. Bonds, Series 2024-A, 5.00% 9/1/2038  | 1000 | 1124 |
| County of Montgomery, Hospital Facs. Rev. Bonds (Dayton Children's Hospital), Series 2021, 4.00% 8/1/2037  | 2100 | 2157 |
| Ohio State University, General Receipts Green Bonds (Multiyear Debt Issuance Program II), Series 2023-B, 5.00% <br> 12/1/2034  | 1315 | 1506 |
| Ohio State University, General Receipts Green Bonds (Multiyear Debt Issuance Program III), Series 2026-A, 5.00% <br> 6/1/2035  | 15000 | 17632 |
| County of Summit, Dev. Fin. Auth. Multi Family Housing Rev. Bonds (Wintergreen Ledges Apartments), Series 2025, <br> 5.00% 4/1/2028 (put 4/1/2027)  | 3755 | 3844 |
| County of Warren, Healthcare Facs., Improvement and Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series <br> 2024, 5.00% 7/1/2033  | 975 | 1088 |
| County of Warren, Healthcare Facs., Improvement and Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series <br> 2024, 5.00% 7/1/2034  | 900 | 1007 |
| County of Warren, Healthcare Facs., Improvement and Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series <br> 2024, 5.00% 7/1/2036  | 1130 | 1242 |
| County of Warren, Healthcare Facs., Improvement and Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series <br> 2024, 5.00% 7/1/2037  | 1000 | 1091 |
| County of Warren, Healthcare Facs., Improvement and Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series <br> 2024, 5.00% 7/1/2038  | 775 | 840 |
| County of Warren, Healthcare Facs., Improvement and Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series <br> 2024, 5.00% 7/1/2041  | 1200 | 1263 |
| County of Warren, Healthcare Facs., Improvement and Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series <br> 2024, 5.00% 7/1/2044  | 1010 | 1035 |
| County of Warren, Healthcare Facs., Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series 2019-A, 5.00% <br> 7/1/2027  | 740 | 761 |
| County of Warren, Healthcare Facs., Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series 2016-A, 5.00% <br> 7/1/2033  | 875 | 882 |
| County of Warren, Healthcare Facs., Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series 2016-A, 5.00% <br> 7/1/2034  | 1000 | 1008 |
| County of Warren, Healthcare Facs., Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series 2016-A, 5.00% <br> 7/1/2035  | 1000 | 1007 |
| County of Warren, Healthcare Facs., Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series 2016-A, 5.00% <br> 7/1/2036  | 580 | 584 |
| Water Dev. Auth., Water Pollution Control Loan Fund Rev. Bonds, Series 2024-D, 5.00% 12/1/2033  | 2000 | 2342 |
|  |  | 131492 |
| **Oklahoma 0.41%** | **Oklahoma 0.41%** | **Oklahoma 0.41%** |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds (Homeownership Loan Program), Series 2023-C, 6.00% <br> 3/1/2054  | 705 | 773 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds (Homeownership Loan Program), Series 2024-A, 6.00% <br> 9/1/2054  | 1665 | 1826 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds (Homeownership Loan Program), Series 2025-A, 6.25% <br> 9/1/2056  | 2340 | 2636 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds (Homeownership Loan Program), Series 2025-C, 6.50% <br> 3/1/2057  | 3000 | 3444 |
| Norman Regional Hospital Auth., Hospital Rev. Ref. Bonds (Norman Regional Hospital Auth. Obligated Group), Series <br> 2017, 5.00% 9/1/2037  | 1420 | 1179 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **90** |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Oklahoma (continued)** | **Oklahoma (continued)** | **Oklahoma (continued)** |
| Oklahoma City Water Utilities Trust, Water and Sewer System Rev. Ref. Bonds, Series 2016, 4.00% 7/1/2042 (preref. <br> 7/1/2026)  | USD<br> 2,000<br>| $2014 |
| Oklahoma City Water Utilities Trust, Water and Sewer System Rev. Ref. Bonds, Series 2016, 4.00% 7/1/2046 (preref. <br> 7/1/2026)  | 2000 | 2014 |
| Trustees of the Tulsa Municipal Airport Trust, Rev. Bonds (American Airlines, Inc. Project), Series 2025, AMT, 6.25% <br> 12/1/2040  | 1000 | 1111 |
| Turnpike Auth., Turnpike System Rev. Bonds, Series 2025-A, 5.00% 1/1/2038  | 4000 | 4575 |
|  |  | 19572 |
| **Oregon 0.76%** | **Oregon 0.76%** | **Oregon 0.76%** |
| Dept. of Administrative Services, State Lottery Rev. Ref. Bonds, Series 2025-A, 5.00% 4/1/2037  | 1000 | 1163 |
| Clackamas Community College Dist., GO Rev. Ref. Bonds, Series 2025, 5.00% 6/15/2042  | 1500 | 1654 |
| GO Bonds, Series 2021-A, 5.00% 5/1/2026  | 1050 | 1059 |
| GO Bonds, Series 2021-A, 5.00% 5/1/2029  | 1015 | 1100 |
| GO Bonds (Article XI-Q State Projects), Series 2019-A, 5.00% 5/1/2027  | 1405 | 1452 |
| GO Bonds (Article XI-Q State Projects), Series 2023-A, 5.00% 5/1/2034  | 500 | 576 |
| GO Bonds (Article XI-Q State Projects), Series 2025-A, 5.00% 5/1/2037  | 950 | 1108 |
| GO Bonds (Article XI-Q State Projects), Series 2025-A, 5.25% 5/1/2043  | 2000 | 2233 |
| GO Bonds (Veteran's Welfare Bonds Series 111), Series 2023-E, 5.50% 12/1/2053  | 225 | 241 |
| GO Rev. Ref. Bonds (Article XI-G State Projects), Series 2025-G, 5.00% 8/1/2041  | 375 | 420 |
| Housing and Community Services Dept., Housing Dev. Rev. Bonds (Gresham Civic Station Apartments Project), Series <br> 2025-Q, 3.125% 7/1/2044 (put 7/1/2028)  | 1000 | 1003 |
| Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series 2024-C, <br> 6.50% 7/1/2054  | 2545 | 2826 |
| County of Multnomah, Hospital Facs. Auth., Rev. and Rev. Ref. Green Bonds (Exempt Terwilliger Plaza - Parkview <br> Project), Series 2021-A, 4.00% 12/1/2041  | 765 | 682 |
| Port of Portland, Portland International Airport Rev. Green Bonds, Series 30-A, AMT, 5.25% 7/1/2041  | 3165 | 3454 |
| Port of Portland, Portland International Airport Rev. Ref. Bonds, Series 30-B, AMT, 5.00% 7/1/2030  | 2990 | 3259 |
| Port of Portland, Portland International Airport Rev. Ref. Bonds, Series 30-B, AMT, 5.00% 7/1/2031  | 3155 | 3492 |
| Port of Portland, Portland International Airport Rev. Ref. Bonds, Series 30-B, AMT, 5.00% 7/1/2032  | 3260 | 3632 |
| Dept. of Transportation, Highway User Tax Rev. Ref. Bonds, Series 2024-A, 5.00% 11/15/2031  | 1705 | 1941 |
| Washington County, Full Faith and Credit Obligations, Series 2025, 5.00% 6/1/2037  | 4645 | 5404 |
|  |  | 36699 |
| **Pennsylvania 2.75%** | **Pennsylvania 2.75%** | **Pennsylvania 2.75%** |
| County of Adams, General Auth. Rev. Bonds (The Brethren Home Community Project), Series 2024-A, 5.00% 6/1/2044  | 2350 | 2365 |
| County of Allegheny, Hospital Dev. Auth., UPMC Rev. Bonds, Series 2019-A, 4.00% 7/15/2037  | 3270 | 3281 |
| Berks County Municipal Auth. Rev. Bonds (Tower Health Project), Series 2024-A-3, 5.00% 6/30/2039  | 4947 | 4458 |
| County of Berks, Municipal Auth., Rev. Bonds (Tower Health Project), Series 2024-A-2, 6.00% 6/30/2034  | 631 | 678 |
| County of Bucks, Industrial Dev. Auth., Rev. Bonds (Pennswood Village Project), Series 2018-A, 5.00% 10/1/2029  | 1155 | 1179 |
| County of Bucks, Industrial Dev. Auth., Rev. Bonds (Pennswood Village Project), Series 2018-A, 5.00% 10/1/2030  | 515 | 526 |
| County of Bucks, Industrial Dev. Auth., Rev. Bonds (Pennswood Village Project), Series 2018-A, 5.00% 10/1/2031  | 660 | 674 |
| County of Chester, Industrial Dev. Auth., Rev. Notes (Avon Grove Charter School Project), Series 2024, 5.00% 3/1/2027  | 345 | 348 |
| City of Doylestown, Hospital Auth., Rev. Bonds (Doylestown Hospital), Series 2024, 5.375% 7/1/2039 <sup>(a)</sup>  | 110 | 121 |
| Econ. Dev. Fin. Auth., Solid Waste Rev. Ref. Bonds (Republic Service, Inc. Project), Series 2010-B, 2.875% 12/1/2030 <br> (put 4/1/2026)  | 395 | 395 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Penndot Major Bridges Package One Project), Series 2022, <br> AMT, 5.25% 6/30/2035  | 1000 | 1101 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Pennsylvania Rapid Bridge Replacement Project), Series 2015, <br> AMT, 5.00% 12/31/2034  | 3430 | 3446 |
| Econ. Dev. Fncg. Auth., Rev. Bonds (Presbyterian Senior Living Project), Series 2023-B-2, 5.00% 7/1/2038  | 800 | 840 |
| Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Noble Environmental, Inc. Project), Series 2025, AMT, 6.875% <br> 9/1/2047 <sup>(a)</sup>  | 1235 | 1281 |
| Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2011, AMT, 4.25% <br> 7/1/2041 (put 7/1/2027)  | 15000 | 15167 |
| Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2021-A-2, AMT, <br> 4.60% 10/1/2046 (put 10/1/2026)  | 1000 | 1004 |
| Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Ref. Bonds (Republic Services, Inc. Project), Series 2019-A, AMT, <br> 3.45% 4/1/2034 (put 1/15/2026)  | 2280 | 2280 |
| Econ. Dev. Fncg. Auth., UPMC Rev. Bonds, Series 2020-A, 4.00% 4/15/2039  | 500 | 496 |
| Erie County School Dist., Limited Tax GO Bonds, Series 2019-A, AGI, 5.00% 4/1/2031  | 525 | 559 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **91** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Pennsylvania (continued)** | **Pennsylvania (continued)** | **Pennsylvania (continued)** |
| GO Bonds, Series 2016, AGI, 5.00% 9/15/2026  | USD<br> 560<br>| $570 |
| Health and Education Facs. Auth., Rev. Bonds (Tel Hai Retirement Community Project), Series 2025, 5.00% 6/1/2033  | 1285 | 1401 |
| Health and Education Facs. Auth., Rev. Bonds (Tel Hai Retirement Community Project), Series 2025, 5.00% 6/1/2034  | 1355 | 1483 |
| Health and Education Facs. Auth., Rev. Bonds (Tel Hai Retirement Community Project), Series 2025, 5.125% 6/1/2046  | 745 | 753 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2025-1A, AMT, 5.00% 6/1/2032  | 2150 | 2311 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2025-1A, AMT, 5.00% 6/1/2033  | 1390 | 1496 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2020, 2.45% 6/1/2041  | 250 | 229 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2023-B, AMT, 4.00% 6/1/2044  | 225 | 223 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2024-1A, AMT, 4.125% 6/1/2045  | 263 | 259 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2025-1A, AMT, 4.75% 6/1/2046  | 1388 | 1372 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2017-125-B, 3.65% 10/1/2042  | 1000 | 936 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2018-126-A, 4.00% 10/1/2048  | 1960 | 1964 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2022-140-A, 5.00% 10/1/2052  | 1535 | 1594 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2023-141-A, 5.75% 10/1/2053  | 630 | 670 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2024-144A, 6.00% 10/1/2054  | 755 | 817 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2024-146A, 6.25% 10/1/2054  | 2655 | 2909 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2024-147-A, 6.25% 10/1/2054  | 2965 | 3267 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2025-150-A, 6.25% 10/1/2055  | 6485 | 7351 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2025-149-A, 6.50% 10/1/2055  | 1875 | 2147 |
| Housing Fin. Agcy., Special Limited Obligation Multi Family Housing Dev. Bonds (Fairhill Phase I), Series 2025, 3.15% <br> 1/1/2046 (put 7/1/2029)  | 2000 | 2006 |
| Housing Fin. Agcy., Special Limited Obligation Multi Family Housing Dev. Bonds (Fairhill Phase II), Series 2025, 3.15% <br> 1/1/2046 (put 7/1/2029)  | 1340 | 1344 |
| County of Lancaster, Hospital Auth., Health Center Rev. Bonds (Masonic Villages Project), Series 2023, 5.125% <br> 11/1/2038  | 360 | 391 |
| Lancaster County, Hospital Auth., Health Center Rev. Bonds (Brethren Village Project), Series 2017, 5.125% 7/1/2037  | 1035 | 1037 |
| Lancaster Municipal Auth., Healthcare Facs. Rev. Bonds (Garden Spot Village Project), Series 2024-A, 5.00% 5/1/2031  | 210 | 226 |
| Lancaster Municipal Auth., Healthcare Facs. Rev. Bonds (Garden Spot Village Project), Series 2024-A, 5.00% 5/1/2032  | 305 | 331 |
| Lancaster Municipal Auth., Healthcare Facs. Rev. Bonds (Garden Spot Village Project), Series 2024-A, 5.00% 5/1/2033  | 400 | 436 |
| Lancaster Municipal Auth., Healthcare Facs. Rev. Bonds (Garden Spot Village Project), Series 2024-A, 5.00% 5/1/2034  | 420 | 457 |
| County of Monroe, Lease Rental Rev. Bonds (Centurion Foundation Lehigh Valley), Series 2024-A, 5.10% 6/15/2039 <sup>(e)</sup>  | 4890 | 4932 |
| County of Montgomery, Industrial Dev. Auth., Exempt Facs. Rev. Ref. Bonds (Constellation Energy Generation, LLC <br> Project), Series 2023-C, 4.10% 6/1/2029  | 1290 | 1342 |
| County of Montgomery, Industrial Dev. Auth., Retirement Communities Rev. Bonds (ACTS Retirement - Life <br> Communities, Inc. Obligated Group), Series 2016, 5.00% 11/15/2033  | 1960 | 1985 |
| County of Montgomery, Industrial Dev. Auth., Retirement Communities Rev. Bonds (ACTS Retirement - Life <br> Communities, Inc. Obligated Group), Series 2025-A, 5.00% 11/15/2042  | 7000 | 7274 |
| Pennsylvania State University Bonds, Series 2025-A, 5.00% 9/1/2042  | 2500 | 2749 |
| Pennsylvania State University Bonds, Series 2025-A, 5.00% 9/1/2043  | 1180 | 1284 |
| City of Philadelphia, Hospitals and Higher Education Facs. Auth., Hospital Rev. Bonds (Temple University Health <br> System Obligated Group), Series 2017, 5.00% 7/1/2031  | 1000 | 1018 |
| City of Philadelphia, Hospitals and Higher Education Facs. Auth., Hospital Rev. Bonds (Temple University Health <br> System Obligated Group), Series 2017, 5.00% 7/1/2032  | 1000 | 1016 |
| City of Philadelphia, Industrial Dev. Auth., Hospital Rev. Bonds (The Children's Hospital of Philadelphia Project), Series <br> 2017, 5.00% 7/1/2034  | 980 | 1010 |
| Philadelphia School Dist., GO Bonds, Series 2019-A, NATL,5.00% 9/1/2026  | 500 | 507 |
| Philadelphia School Dist., GO Bonds, Series 2016-F, 5.00% 9/1/2028  | 2750 | 2791 |
| Philadelphia School Dist., GO Green Bonds, Series 2023-B, 5.25% 9/1/2038  | 1000 | 1125 |
| Philadelphia School Dist., GO Rev. Ref. Bonds, Series 2007-A, FGIC-NATL, 5.00% 6/1/2034  | 6000 | 6838 |
| Township of West Cornwall, Municipal Auth., Healthcare Facs. Rev. Bonds (Lebanon Valley Brethren Home Project), <br> Series 2021-A, 4.00% 11/15/2036  | 365 | 356 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2019-A, 5.00% 12/1/2027  | 500 | 522 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2024-C, 5.00% 12/1/2038  | 1520 | 1732 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2025-B, 5.25% 12/1/2044  | 2000 | 2207 |
| Turnpike Commission, Turnpike Rev. Ref. Bonds, Series 2025-2, 5.00% 12/1/2045 (put 12/1/2032)  | 960 | 1075 |
| University of Pittsburgh, Commonwealth System of Higher Education, Asset Notes, Series 2025, 5.00% 4/15/2032  | 7500 | 8545 |
| University of Pittsburgh, Commonwealth System of Higher Education, Asset Notes, Series 2025-A, 5.00% 2/15/2036  | 4290 | 5077 |
| County of Westmoreland, Industrial Dev. Auth., Health System Rev. Bonds (Excela Health Project), Series 2020-A, 4.00% <br> 7/1/2026  | 500 | 501 |
|  |  | 132065 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **92** |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Puerto Rico 2.35%** | **Puerto Rico 2.35%** | **Puerto Rico 2.35%** |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2021-B, 5.00% 7/1/2033 <sup>(a)</sup>  | USD<br> 500<br>| $523 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2020-A, 5.00% 7/1/2035 <sup>(a)</sup>  | 1500 | 1554 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2022-A, 5.00% 7/1/2037 <sup>(a)</sup>  | 1860 | 1931 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2021-B, 4.00% 7/1/2042 <sup>(a)</sup>  | 2500 | 2366 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2017 <sup>(f)</sup>  | 95 | 63 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 5.00% 7/1/2017 <sup>(f)</sup>  | 1365 | 911 |
| Electric Power Auth., Power Rev. Bonds, Series 2016-B-4, 10.00% 7/1/2019 <sup>(f)</sup>  | 450 | 300 |
| Electric Power Auth., Power Rev. Bonds, Series 2008-WW, 5.375% 7/1/2023 <sup>(f)</sup>  | 70 | 47 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2032 <sup>(f)</sup>  | 190 | 127 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-EEE, 6.05% 7/1/2032  | 2325 | 1558 |
| Electric Power Auth., Power Rev. Bonds, Series 2003-NN, NATL, 4.75% 7/1/2033  | 320 | 314 |
| Electric Power Auth., Power Rev. Bonds, Series 2013-A, 6.75% 7/1/2036 <sup>(f)</sup>  | 465 | 312 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-XX, 5.25% 7/1/2040 <sup>(f)</sup>  | 4080 | 2734 |
| Electric Power Auth., Power Rev. Bonds, Series 2012-A, 5.00% 7/1/2042 <sup>(f)</sup>  | 695 | 466 |
| Electric Power Auth., Power Rev. Custodial Receipts, Series 2025-PRB-RR, 0% 7/1/2030 <sup>(a)</sup>  | 2500 | 1631 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2010-DDD, 5.00% 7/1/2021 <sup>(f)</sup>  | 1400 | 935 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2007-UU, AGI, (3-month USD CME Term SOFR x 0.67 + 0.52%) <br> 3.359% 7/1/2029 <sup>(b)</sup>  | 1015 | 984 |
| GO Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2033  | 1532 | 1533 |
| GO Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2037  | 8945 | 8680 |
| GO Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2041  | 2673 | 2474 |
| GO Taxable Bonds, Series 2022, 0% 11/1/2043 <sup>(b)</sup>  | 47546 | 30489 |
| GO Taxable Bonds, Series 2022, 5.25% 11/1/2051 <sup>(b)</sup>  | 7500 | 2541 |
| GO Taxable Bonds, CAB, Series 2022, 0% 11/1/2051  | 26396 | 17289 |
| Housing Fin. Auth., Collateralized Multi Family Housing Rev. Bonds (Mirador Las Casas Project), Series 2023-B, 5.00% <br> 3/1/2027 (put 3/1/2026)  | 1200 | 1204 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Hospital Rev. and Rev. Ref. Bonds <br> (Hospital Auxilio Mutuo Obligated Group Project), Series 2021, 5.00% 7/1/2033  | 435 | 464 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Hospital Rev. and Rev. Ref. Bonds <br> (Hospital Auxilio Mutuo Obligated Group Project), Series 2021, 4.00% 7/1/2041  | 455 | 413 |
| Public Fin. Corp., Commonwealth Appropriation Bonds, Series 2001-E, 6.00% 8/1/2026 (escrowed to maturity)  | 1285 | 1308 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Series 2019-A-2, 4.329% 7/1/2040  | 23853 | 23367 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Series 2019-A-2, 4.329% 7/1/2040  | 5682 | 5566 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, CAB, Series 2018-A-1, 0% 7/1/2046  | 2000 | 672 |
|  |  | 112756 |
| **Rhode Island 0.14%** | **Rhode Island 0.14%** | **Rhode Island 0.14%** |
| Student Loan Auth., Education Loan Rev. Bonds, Series 2022-A, AMT, 4.125% 12/1/2041  | 740 | 730 |
| Student Loan Auth., Education Loan Rev. Bonds, Series 2024-A, AMT, 4.125% 12/1/2043  | 330 | 322 |
| Student Loan Auth., Education Loan Rev. Bonds, Series 2024-B, AMT, 4.125% 12/1/2043  | 1085 | 1053 |
| Student Loan Auth., Education Loan Rev. Bonds, Series 2025-1, AMT, 5.00% 12/1/2044  | 3460 | 3487 |
| Student Loan Auth., Student Loan Program Rev. Bonds, Series 2020-A, AMT, 3.625% 12/1/2037  | 455 | 449 |
| Tobacco Settlement Fin. Corp., Tobacco Settlement Asset-Backed Bonds, Series 2015-A, 5.00% 6/1/2026  | 500 | 502 |
|  |  | 6543 |
| **South Carolina 1.59%** | **South Carolina 1.59%** | **South Carolina 1.59%** |
| Connector 2000 Assn., Inc., Toll Road Rev. Bonds, CAB, Series 2011-A-1, 0% 1/1/2032  | 12049 | 8622 |
| County of Dorchester, Summers Corner Improvement Dist., Assessment Rev. Bonds, Series 2023, 4.50% 10/1/2033  | 210 | 212 |
| City of Greenville, Housing Auth., Multi Family Housing Rev. Bonds (Cherokee Landing Apartments Project), Series <br> 2023, 5.00% 7/1/2027 (put 7/1/2026)  | 800 | 807 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2024-B, 6.00% 1/1/2055  | 4055 | 4488 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2025-A, 6.50% 7/1/2055  | 4290 | 4870 |
| Jobs-Econ. Dev. Auth., Environmental Improvement Rev. Ref. Bonds (International Paper Company Project), Series <br> 2023-A, AMT, 4.00% 4/1/2033 (put 4/1/2026)  | 5645 | 5652 |
| Jobs-Econ. Dev. Auth., Health Care Facs. Rev. and Rev. Ref. Bonds (Rolling Green Village Project), Series 2025-B, 4.00% <br> 12/1/2030  | 2575 | 2587 |
| Jobs-Econ. Dev. Auth., Health Care Facs. Rev. and Rev. Ref. Bonds (Rolling Green Village Project), Series 2025-A, 5.50% <br> 12/1/2045  | 850 | 857 |
| Jobs-Econ. Dev. Auth., Health Care Facs. Rev. Bonds (Novant Health Obligated Group), Series 2024-A, 5.50% <br> 11/1/2045  | 2120 | 2310 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **93** | Capital Group Fixed Income ETF Trust |

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------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **South Carolina (continued)** | **South Carolina (continued)** | **South Carolina (continued)** |
| Jobs-Econ. Dev. Auth., Health Care Facs. Rev. Bonds (Novant Health Obligated Group), Series 2024-A, 5.50% <br> 11/1/2046  | USD<br> 10,000<br>| $10784 |
| Jobs-Econ. Dev. Auth., Health Care Facs. Rev. Bonds (Novant Health Obligated Group), Series 2024-A, 5.50% <br> 11/1/2048  | 5000 | 5346 |
| Jobs-Econ. Dev. Auth., Health Care Facs. Rev. Bonds (Novant Health Obligated Group), Series 2024-A, 5.50% <br> 11/1/2049  | 6000 | 6392 |
| Jobs-Econ. Dev. Auth., Hospital Facs. Rev. Bonds (Bon Secours Mercy Health, Inc.), Series 2025-A, 5.25% 11/1/2042  | 1875 | 2076 |
| Jobs-Econ. Dev. Auth., Retirement Community Rev. Bonds (Seafields at Kiawah Island Project), Series 2023-B-1, 5.75% <br> 11/15/2029  | 2500 | 2500 |
| Patriots Energy Group Fncg. Agcy., Gas Supply Rev. Bonds, Series 2023-B-1, 5.25% 2/1/2054 (put 3/1/2031)  | 1000 | 1082 |
| Public Service Auth., Rev. Improvement Obligations (Santee Cooper), Series 2025-A, 5.00% 12/1/2040  | 940 | 1036 |
| Public Service Auth., Rev. Improvement Obligations (Santee Cooper), Series 2025-A, 5.00% 12/1/2041  | 1500 | 1635 |
| Public Service Auth., Rev. Obligations (Santee Cooper), Series 2022-A, 5.00% 12/1/2034  | 4005 | 4442 |
| Public Service Auth., Rev. Obligations (Santee Cooper), Series 2022-A, 5.00% 12/1/2039  | 2000 | 2156 |
| Public Service Auth., Rev. Obligations (Santee Cooper), Series 2016-B, 5.00% 12/1/2041  | 1000 | 1009 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2016-A, 5.00% 12/1/2029  | 2870 | 2896 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2016-A, 5.00% 12/1/2033  | 500 | 504 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2016-A, 5.00% 12/1/2038  | 1465 | 1474 |
| Spartanburg Regional Health Services Dist., Hospital Rev. Ref. Bonds, Series 2022, 5.00% 4/15/2031  | 2595 | 2868 |
|  |  | 76605 |
| **South Dakota 0.25%** | **South Dakota 0.25%** | **South Dakota 0.25%** |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2023-G, 6.25% 5/1/2055  | 550 | 596 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2024-A, 6.25% 5/1/2055  | 4275 | 4658 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2025-A, 6.50% 11/1/2055  | 6100 | 6943 |
|  |  | 12197 |
| **Tennessee 1.16%** | **Tennessee 1.16%** | **Tennessee 1.16%** |
| Health and Educational Facs. Board of the Metropolitan Government of Nashville and Davidson County, Multi Family <br> Rev. Bonds (Stone Bridge Lofts Project), Series 2022-B, 3.35% 4/12026  | 1875 | 1875 |
| Health and Educational Facs. Board of the Metropolitan Government of Nashville and Davidson County, Rev. Bonds <br> (Vanderbilt University Medical Center), Series 2016-A, 5.00% 7/1/2035  | 7335 | 7396 |
| Health and Educational Facs. Board, Rev. Bonds (Ascension Senior Credit Group), Series 2025-B-1, 5.00% 11/15/2048 <br> (put 2/1/2028)  | 4425 | 4841 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2017-2A, AMT, 4.00% 1/1/2042  | 265 | 265 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2019-1, 4.25% 1/1/2050  | 715 | 720 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2025-2-A, 6.00% 1/1/2056  | 4315 | 4834 |
| City of Johnson City, Health and Educational Facs. Board, Hospital Rev. Ref. Bonds (Ballad Health), Series 2023-A, <br> 5.00% 7/1/2032  | 10000 | 11124 |
| County of Knox, Health, Educational and Housing Fac. Board, Multi Family Housing Rev. Bonds (The Pines Apartments <br> Project), Series 2024, 3.10% 9/1/2029 (put 9/1/2027)  | 690 | 690 |
| County of Knox, Health, Educational and Housing Fac. Board, Student Housing Rev Bonds (Provident Group - UTK <br> Properties, LLC - University of Tennessee Project), Series 2024-A-1, BAM, 5.00% 7/1/2038  | 290 | 315 |
| County of Knox, Health, Educational and Housing Fac. Board, Student Housing Rev Bonds (Provident Group - UTK <br> Properties, LLC - University of Tennessee Project), Series 2024-B-1, BAM, 5.00% 7/1/2044  | 2000 | 2068 |
| Knoxville Community Dev. Corp., Collateralized Multi Family Housing Bonds (Grosvenor Square Project), Series 2022, <br> 4.00% 12/1/2027 (put 6/1/2026)  | 1725 | 1729 |
| Knoxville Community Dev. Corp., Collateralized Multi Family Housing Bonds (Willow Place Project), Series 2022, 3.75% <br> 12/1/2027 (put 6/1/2026)  | 150 | 150 |
| Knoxville Community Dev. Corp., Collateralized Multi Family Housing Bonds (Willow Place Project), Series 2023, 3.75% <br> 12/1/2027 (put 6/1/2026)  | 1000 | 1003 |
| City of Memphis, Electric System Rev. and Rev. Ref. Bonds, Series 2024, 5.00% 12/1/2028  | 945 | 1012 |
| City of Memphis, Electric System Rev. and Rev. Ref. Bonds, Series 2024, 5.00% 12/1/2029  | 410 | 449 |
| City of Memphis, Electric System Rev. and Rev. Ref. Bonds, Series 2024, 5.00% 12/1/2030  | 350 | 390 |
| Tennessee Energy Acquisition Corp., Gas Project Rev. Ref. Bonds, Series 2025-A, 5.00% 12/1/2035  | 14315 | 15405 |
| County of Williamson, GO Public Improvement and School Bonds, Series 2019, 5.00% 4/1/2026  | 235 | 237 |
| County of Williamson Industrial Dev. Board, Multi Family Housing Rev. Bonds (Wood Duck Court Apartments), Series <br> 2023, 5.00% 5/1/2042 (put 5/1/2027)  | 1105 | 1123 |
|  |  | 55626 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **94** |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Texas 12.79%** | **Texas 12.79%** | **Texas 12.79%** |
| Affordable Housing Corp., Multi Family Housing Rev. Bonds (Juniper Creek Apartments Project), Series 2023, 3.75% <br> 7/1/2044 (put 7/1/2026)  | USD<br> 405<br>| $406 |
| Affordable Housing Corp., Multi Family Housing Rev. Bonds (Norman Commons), Series 2023, 3.625% 1/1/2045 (put <br> 1/1/2027)  | 3140 | 3160 |
| Airport System Facs. Rev. Bonds (United Airlines, Inc. Technical Operations Center Project), Series 2018, AMT, 5.00% <br> 7/15/2028  | 2245 | 2307 |
| Alamo Community College Dist., Limited Tax Bonds, Series 2021, 5.00% 8/15/2026  | 2150 | 2183 |
| Allen Independent School Dist. Unlimited Tax Rev. Ref. Bonds, Series 2025-A, 5.00% 2/15/2027  | 1375 | 1412 |
| Allen Independent School Dist. Unlimited Tax School Building Bonds, Series 2025, 5.00% 2/15/2042  | 1100 | 1190 |
| AM Bidco Operations, LLC, Term Loan, 8.50% PIK 10/21/2027 <sup>(g)(h)(i)</sup>  | 510 | 510 |
| Anna Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.25% 2/15/2050  | 2465 | 2633 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Basis Texas Charter Schools, Inc.), Series 2024, 4.50% <br> 6/15/2044 <sup>(a)</sup>  | 885 | 813 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2024-A, 4.50% <br> 8/15/2039  | 390 | 387 |
| City of Arlington, Water and Wastewater System Rev. Ref. and Improvement Bonds, Series 2024, 5.00% 6/1/2036  | 1445 | 1649 |
| Aubrey Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2/15/2039  | 1140 | 1245 |
| Austin Affordable PFC, Inc., Multi Family Housing Rev. Bonds (Eagle's Landing Family Apartments), Series 2024-B, <br> 5.00% 9/1/2028 (put 9/1/2027)  | 195 | 202 |
| Austin Affordable PFC, Inc., Multi Family Housing Rev. Bonds (Village at Cottonwood Apartments), Series 2024-B, <br> 5.00% 9/1/2028 (put 9/1/2027)  | 160 | 165 |
| Austin Community College Dist., Limited Tax Bonds, Series 2023, 5.00% 8/1/2039  | 1000 | 1103 |
| City of Austin, Airport System Rev. Bonds, Series 2019-B, AMT, 5.00% 11/15/2033  | 1000 | 1057 |
| City of Austin, Airport System Rev. Ref. Bonds, Series 2025, AMT, 5.00% 11/15/2041  | 1500 | 1607 |
| City of Austin, Airport System Rev. Ref. Bonds, Series 2025, AMT, 5.00% 11/15/2042  | 1585 | 1679 |
| City of Austin, Electric Utility System Rev. Ref. Bonds, Series 2015-A, 5.00% 11/15/2031  | 1000 | 1000 |
| City of Austin, Public Improvement and Rev. Ref. Bonds, Series 2025, 5.00% 9/1/2040  | 2000 | 2252 |
| City of Austin, Public Improvement and Rev. Ref. Bonds, Series 2025, 5.00% 9/1/2042  | 2250 | 2488 |
| City of Austin, Water and Wastewater System Rev. Ref. Bonds, Series 2022, 5.00% 11/15/2036  | 1500 | 1682 |
| City of Austin, Water and Wastewater System Rev. Ref. Bonds, Series 2022, 5.00% 11/15/2037  | 1250 | 1391 |
| City of Austin, Water and Wastewater System Rev. Ref. Bonds, Series 2022, 5.00% 11/15/2038  | 1750 | 1938 |
| Berry Creek Highlands Municipal Dist., Unlimited Tax Bonds, Series 2025, BAM, 4.50% 9/1/2042  | 1025 | 1018 |
| County of Bexar, Hospital Dist., Limited Tax Rev. Ref. Bonds, Series 2019, 5.00% 2/15/2034  | 1750 | 1825 |
| Boerne Independent School Dist., Unlimited Tax School Building Rev. Ref. Bonds, Series 2023, 3.125% 2/1/2053 (put <br> 2/1/2027)  | 485 | 486 |
| Brazoria County Industrial Dev. Corp., Solid Waste Disposal Facs. Rev. Bonds (Aleon Renewable Metals, LLC Project), <br> Series 2022, AMT, 10.00% 6/1/2042 <sup>(a)(b)(f)</sup>  | 11 | 1 |
| Brazoria County Industrial Dev. Corp., Solid Waste Disposal Facs. Rev. Bonds (Aleon Renewable Metals, LLC Project), <br> Series 2023, AMT, 12.00% 6/1/2043 <sup>(a)(f)</sup>  | 59 | 6 |
| Brazoria County Industrial Dev. Corp., Solid Waste Disposal Facs. Rev. Bonds (Gladieux Metals Recycling, LLC Project), <br> Series 2019-B, AMT, 7.00% 3/1/2039 <sup>(f)</sup>  | 625 | 63 |
| Brazoria County Municipal Utility Dist. No. 40, Unlimited Tax Bonds, Series 2025, AGI, 4.375% 9/1/2041  | 1545 | 1550 |
| Brazoria County Municipal Utility Dist. No. 40, Unlimited Tax Bonds, Series 2025, AGI, 4.50% 9/1/2043  | 1705 | 1705 |
| Brazoria County Municipal Utility Dist. No. 40, Unlimited Tax Bonds, Series 2025, AGI, 4.625% 9/1/2045  | 1880 | 1879 |
| County of Brazoria, Municipal Utility Dist. No. 42, Unlimited Tax Bonds, Series 2025, 4.625% 4/1/2043  | 1270 | 1259 |
| Brazos Higher Education Auth., Inc., Student Loan Program Rev. Bonds, Series 2024-1-A, AMT, 4.00% 4/1/2045  | 1055 | 961 |
| Brazos Higher Education Auth., Inc., Student Loan Program Rev. Bonds, Series 2025-1A, AMT, 4.50% 4/1/2046  | 6505 | 6629 |
| City of Buda, Special Assessment Rev. Bonds (Persimmon Public Improvement Dist. Major Improvement Area No. 1), <br> Series 2025, 5.875% 9/1/2045 <sup>(a)</sup>  | 240 | 240 |
| City of Buda, Special Assessment Rev. Bonds (Persimmon Public Improvement Dist. Major Improvement Area Project), <br> Series 2025, 5.75% 9/1/2033 <sup>(a)</sup>  | 241 | 244 |
| City of Buda, Special Assessment Rev. Bonds (Persimmon Public Improvement Dist. Major Improvement Area Project), <br> Series 2025, 6.625% 9/1/2045 <sup>(a)</sup>  | 506 | 506 |
| County of Caldwell, Municipal Utility Dist. No. 2, Unlimited Tax Road Bonds, Series 2024-B, 4.375% 9/1/2041  | 1005 | 968 |
| County of Caldwell, Municipal Utility Dist. No. 2, Unlimited Tax Road Bonds, Series 2024-A, 4.375% 9/1/2043  | 1095 | 1035 |
| Cedar Hill Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 5.00% 2/15/2038  | 1820 | 2047 |
| Celina Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 5.00% 2/15/2042  | 3420 | 3727 |
| Central Texas Regional Mobility Auth., Rev. Bonds, Series 2021-B, 5.00% 1/1/2032  | 500 | 552 |
| Central Texas Regional Mobility Auth., Rev. Ref. Bonds, Series 2021-D, 5.00% 1/1/2030  | 2130 | 2319 |
| Clear Creek Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2016, 3.00% 2/15/2033  | 1000 | 1000 |
| Clear Creek Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2024-A, 5.00% 2/15/2033  | 595 | 684 |
| Clifton Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Idea Public Schools), Series 2025, 5.00% <br> 8/15/2043  | 4755 | 5065 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **95** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Texas (continued)** | **Texas (continued)** | **Texas (continued)** |
| Clifton Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Idea Public Schools), Series 2025, 5.00% <br> 8/15/2044  | USD<br> 3,780<br>| $3990 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2018, 5.00% 8/15/2027  | 1000 | 1037 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2022-A, 3.00% 8/15/2051  | 2000 | 1395 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Valor Education), Series 2023-A, 5.75% 6/15/2038 <sup>(a)</sup>  | 500 | 506 |
| Clifton Higher Education Fin. Corp., Education Rev. Ref. Bonds (Idea Public Schools), Series 2024, 5.00% 8/15/2039  | 1000 | 1083 |
| Clifton Higher Education Fin. Corp., Education Rev. Ref. Bonds (International Leadership of Texas, Inc.), Series 2024-A, <br> 5.00% 8/15/2038  | 105 | 114 |
| Clifton Higher Education Fin. Corp., Education Rev. Ref. Bonds (International Leadership of Texas, Inc.), Series 2025-B, <br> 4.00% 2/15/2055 (put 2/15/2030)  | 1680 | 1756 |
| College Student Loan GO Bonds, Series 2019, AMT, 5.00% 8/1/2027  | 1000 | 1033 |
| Prosper Independent School Dist. (Counties of Collin and Denton), Unlimited Tax School Building Bonds, Series <br> 2024-A, 4.00% 2/15/2035  | 2400 | 2782 |
| Prosper Independent School Dist. (Counties of Collin and Denton), Unlimited Tax School Building Bonds, Series <br> 2024-A, 5.00% 2/15/2036  | 1000 | 1151 |
| Prosper Independent School Dist. (Counties of Collin and Denton), Unlimited Tax School Building Bonds, Series 2024, <br> 5.00% 2/15/2040  | 1165 | 1288 |
| Prosper Independent School Dist. (Counties of Collin and Denton), Unlimited Tax School Building Bonds, Series <br> 2024-A, 5.00% 2/15/2040  | 1000 | 1111 |
| Comal County Water Control and Improvement Dist. No. 6, Unlimited Tax Bonds, Series 2025, AGI, 4.25% 9/1/2043  | 1340 | 1289 |
| Comal Independent School Dist., Unlimited Tax School Building Rev. Ref. Bonds, Series 2025, 5.00% 2/1/2043  | 615 | 666 |
| Conroe Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2024, 5.00% 2/15/2034  | 2440 | 2790 |
| Conroe Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 5.00% 2/15/2037  | 1630 | 1852 |
| Crowley Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 8/1/2031  | 1045 | 1120 |
| Cypress-Fairbanks Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% 2/15/2032  | 1000 | 1135 |
| Cities of Dallas and Fort Worth, Dallas/Fort Worth International Airport, Joint Rev. Ref. and Improvement Bonds, Series <br> 2025-A, AMT, 5.00% 11/1/2032  | 7000 | 7747 |
| City of Dallas, GO Rev. Ref. and Improvement Bonds, Series 2024-C, 5.00% 2/15/2032  | 1750 | 1980 |
| City of Dallas, Waterworks and Sewer System Rev. Ref. Bonds, Series 2015-A, 4.00% 10/1/2033  | 500 | 500 |
| City of Dallas, Waterworks and Sewer System Rev. Ref. Bonds, Series 2024, 5.00% 10/1/2036  | 1090 | 1252 |
| City of Dallas, Waterworks and Sewer System Rev. Ref. Bonds, Series 2020-C, 5.00% 10/1/2038  | 1440 | 1550 |
| Dallas Area Rapid Transit Sales Tax Rev. Improvement and Rev. Ref. Bonds, Series 2020-A, 5.00% 12/1/2028  | 1080 | 1154 |
| Dallas Area Rapid Transit Sales Tax Rev. Ref. Bonds, Series 2019, 5.00% 12/1/2034  | 2500 | 2686 |
| Dallas Independent School Dist., Unlimited Tax School Building Bonds, Series 2019-B, 3.00% 2/15/2034  | 1000 | 987 |
| Dallas Independent School Dist., Unlimited Tax School Building Rev. Ref. Bonds, Series 2024, 5.00% 2/15/2034  | 1605 | 1834 |
| City of Dallas Housing Fin. Corp., Multi Family Housing Rev. Bonds (Highpoint at Wynnewood), Series 2022, 3.50% <br> 2/1/2044 (put 2/1/2026)  | 2900 | 2900 |
| City of Dallas Housing Fin. Corp., Multi Family Housing Rev. Bonds (Palladium Buckner Station), Series 2025, 3.05% <br> 8/1/2030 (put 8/1/2028)  | 1655 | 1658 |
| City of Dallas Housing Fin. Corp., Multi Family Housing Rev. Bonds (West Virginia Apartments), Series 2024-B, 5.00% <br> 10/1/2028 (put 10/1/2027)  | 195 | 201 |
| City of Dallas Housing Fin. Corp., Multi Family Housing Rev. Notes (Estates at Ferguson), Series 2023, 5.00% 7/1/2042 <br> (put 7/1/2027)  | 420 | 428 |
| Del Valle Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 6/15/2036  | 1525 | 1674 |
| County of Denton, Special Assessment Rev. Bonds (Duck Point Public Improvement Dist.), Series 2025, 4.625% <br> 12/31/2035 <sup>(a)</sup>  | 500 | 509 |
| County of Denton, Special Assessment Rev. Bonds (Green Meadows Public Improvement Dist. Major Improvement <br> Area Project), Series 2025, 4.50% 12/31/2035 <sup>(a)</sup>  | 750 | 779 |
| County of Denton, Special Assessment Rev. Bonds (Green Meadows Public Improvement Dist. Major Improvement <br> Area Project), Series 2025, 5.00% 12/31/2035 <sup>(a)</sup>  | 810 | 841 |
| County of Denton, Special Assessment Rev. Bonds (Tabor Ranch Public Improvement Dist. Improvement Area #1 <br> Project), Series 2024-A, 4.625% 12/31/2031 <sup>(a)</sup>  | 194 | 197 |
| County of Denton, Special Assessment Rev. Bonds (Tabor Ranch Public Improvement Dist. Improvement Area #1 <br> Project), Series 2024-A, 5.25% 12/31/2044 <sup>(a)</sup>  | 360 | 360 |
| Denton County Municipal Utility Dist. No. 16, Unlimited Tax Road Bonds, Series 2025, 4.25% 9/1/2037  | 1385 | 1387 |
| Denton County Municipal Utility Dist. No. 16, Unlimited Tax Road Bonds, Series 2025, 4.50% 9/1/2040  | 1010 | 1010 |
| Denton Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2025-C, 5.00% 8/15/2028  | 2500 | 2658 |
| Denton Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2025-C, 5.00% 8/15/2034  | 1410 | 1644 |
| Denton Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% 8/15/2037  | 1390 | 1561 |
| Driftwood Conservation Dist., Unlimited Tax Utility Bonds, Series 2025, AGI, 4.125% 4/1/2039  | 900 | 901 |
| Driftwood Conservation Dist., Unlimited Tax Utility Bonds, Series 2025, AGI, 4.375% 4/1/2041  | 1000 | 1002 |
| Driftwood Conservation Dist., Unlimited Tax Utility Bonds, Series 2025, AGI, 4.50% 4/1/2043  | 1110 | 1107 |
| Duncanville Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 5.00% 2/15/2040  | 1085 | 1183 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **96** |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Texas (continued)** | **Texas (continued)** | **Texas (continued)** |
| County of Ellis, Municipal Utility Dist. No. 1B, Unlimited Tax Utility Bonds, Series 2025, 4.375% 9/1/2037  | USD<br> 1,025<br>| $1041 |
| Forney Independent School Dist., Unlimited Tax School Building Rev. Ref. Bonds, Series 2025, 5.25% 8/15/2041  | 500 | 565 |
| Forney Independent School Dist., Unlimited Tax School Building Rev. Ref. Bonds, Series 2025, 5.25% 8/15/2042  | 1000 | 1117 |
| Fort Bend County Municipal Utility Dist. No. 250, Contract Rev. Bonds, Series 2025, 4.25% 11/1/2037  | 1490 | 1496 |
| Fort Bend County Municipal Utility Dist. No. 253, Unlimited Tax Road Bonds, Series 2025, BAM, 4.50% 9/1/2042  | 1085 | 1088 |
| Fort Bend Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2024-A, 5.00% <br> 8/15/2043  | 3640 | 3908 |
| Fort Bend Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2024-A, 5.00% <br> 8/15/2044  | 2570 | 2736 |
| Fort Worth Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 5.00% 2/15/2038  | 1000 | 1125 |
| County of Fort Bend, Municipal Utility Dist. No. 216, Unlimited Tax Bonds, Series 2024, 4.00% 9/1/2035  | 1210 | 1226 |
| County of Fort Bend, Municipal Utility Dist. No. 216, Unlimited Tax Bonds, Series 2024, 4.00% 9/1/2042  | 1070 | 1014 |
| County of Fort Bend, Municipal Utility Dist. No. 216, Unlimited Tax Bonds, Series 2024, 4.25% 9/1/2045  | 1235 | 1169 |
| County of Fort Bend, Municipal Utility Dist. No. 232, Unlimited Tax Road Bonds, Series 2024, 4.25% 9/1/2043  | 1250 | 1161 |
| City of Fort Worth, Water and Sewer System Rev. Bonds, Series 2024, 5.00% 2/15/2031  | 1350 | 1501 |
| Galena Park Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.00% 8/15/2038  | 1180 | 1345 |
| Galena Park Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.00% 8/15/2039  | 2045 | 2314 |
| County of Galveston, Municipal Utility Dist. No. 36, Unlimited Tax Bonds, Series 2024, 4.00% 9/1/2036  | 1180 | 1175 |
| County of Galveston, Municipal Utility Dist. No. 79, Unlimited Tax Bonds, Series 2024, 4.625% 4/1/2047  | 1000 | 920 |
| Galveston County Municipal Utility Dist. No. 59, Unlimited Tax Bonds, Series 2025, AGI, 4.375% 6/1/2041  | 1080 | 1080 |
| Galveston County Municipal Utility Dist. No. 59, Unlimited Tax Bonds, Series 2025, AGI, 4.375% 6/1/2043  | 1200 | 1171 |
| Greenwood Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 5.00% 2/15/2035  | 1275 | 1441 |
| Harlingen Consolidated Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 5.00% 8/15/2032  | 1020 | 1104 |
| County of Harris, Municipal Utility Dist. No. 478, Contract Rev. Road Bonds, Series 2025-A, 4.875% 12/1/2038  | 1055 | 1077 |
| County of Harris, Municipal Utility Dist. No. 478, Contract Rev. Road Bonds, Series 2025, 4.375% 12/1/2041  | 1330 | 1278 |
| County of Harris, Municipal Utility Dist. No. 493, Unlimited Tax Road Bonds, Series 2024, 4.00% 9/1/2039  | 1050 | 1023 |
| County of Harris, Municipal Utility Dist. No. 532, Unlimited Tax Road Bonds, Series 2025, BAM, 4.50% 9/1/2045  | 1050 | 1027 |
| County of Harris, Municipal Utility Dist. No. 572, Unlimited Tax Bonds, Series 2025, 4.375% 4/1/2040  | 1070 | 1068 |
| County of Harris, Municipal Utility Dist. No. 578, Unlimited Tax Bonds, Series 2024, 4.25% 9/1/2041  | 1105 | 1049 |
| County of Harris, Municipal Utility Dist. No. 578, Unlimited Tax Bonds, Series 2024, 4.25% 9/1/2046  | 1085 | 985 |
| County of Harris, Rev. Ref. Bonds, Series 2022-A, 5.00% 8/15/2031  | 2825 | 3182 |
| County of Harris, Sports Auth., Rev. Ref. Bonds, Series 2024-A, 5.00% 11/15/2038  | 3110 | 3450 |
| County of Harris, Toll Road Rev. and Rev. Ref. Bonds, Series 2018-A, 5.00% 8/15/2030  | 625 | 657 |
| County of Harris, Toll Road Rev. Ref. Bonds, Series 2015-B, 5.00% 8/15/2035  | 1050 | 1050 |
| Harris County Hospital Dist., Limited Tax Bonds, Series 2025, 5.00% 2/15/2038  | 2000 | 2239 |
| Harris County Housing Fin. Corp., Multi Family Housing Rev. Notes (Baypointe Apartments), Series 2025, 2.95% <br> 9/1/2043 (put 9/1/2028)  | 2045 | 2041 |
| Harris County Municipal Utility Dist. No. 547, Unlimited Tax Road Bonds, Series 2025-A, AGI, 4.375% 8/1/2042  | 1050 | 1030 |
| Harris County Municipal Utility Dist. No. 558, Unlimited Tax Bonds, Series 2025-A, AGI, 4.00% 3/1/2042  | 1095 | 1045 |
| Hays Consolidated Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2/15/2035  | 780 | 862 |
| Dept. of Housing and Community Affairs, Multi Family Housing Rev. Bonds (Palladium Old FM 471 W), Series 2024, <br> 3.05% 9/1/2029 (put 9/1/2027)  | 4375 | 4385 |
| Dept. of Housing and Community Affairs, Residential Mortgage Rev. Bonds, Series 2021-A, 3.00% 1/1/2052  | 1410 | 1388 |
| Dept. of Housing and Community Affairs, Residential Mortgage Rev. Bonds, Series 2022-B, 5.75% 1/1/2053  | 1765 | 1910 |
| Dept. of Housing and Community Affairs, Residential Mortgage Rev. Ref. Bonds, Series 2025-D, 6.25% 1/1/2056  | 5000 | 5605 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2023-C, 6.00% 3/1/2054  | 2895 | 3182 |
| Housing Options, Inc., Multi Family Housing Rev. Bonds (Royal Crest Apartments), Series 2025, 3.05% 2/1/2045 (put <br> 2/1/2028)  | 765 | 767 |
| City of Houston, Airport System Facs. Rev. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series 2024-B, <br> AMT, 5.25% 7/15/2034  | 11240 | 12096 |
| City of Houston, Airport System Facs. Rev. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series 2024-B, <br> AMT, 5.50% 7/15/2035  | 2400 | 2645 |
| City of Houston, Airport System Facs. Rev. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series 2024-B, <br> AMT, 5.50% 7/15/2036  | 5325 | 5822 |
| City of Houston, Airport System Facs. Rev. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series 2024-B, <br> AMT, 5.50% 7/15/2038  | 2250 | 2432 |
| City of Houston, Airport System Facs. Rev. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series 2021-A, <br> AMT, 4.00% 7/1/2041  | 1525 | 1387 |
| City of Houston, Airport System Facs. Rev. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series <br> 2021-B-1, AMT, 4.00% 7/15/2041  | 5965 | 5426 |
| City of Houston, Airport System Rev. and Rev. Ref. Bonds, Series 2025-A, AMT, 5.25% 7/1/2039  | 2000 | 2227 |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2023-B, AGI, AMT, 5.00% 7/1/2028  | 2825 | 2965 |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2021-A, AMT, 5.00% 7/1/2029  | 500 | 534 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **97** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Texas (continued)** | **Texas (continued)** | **Texas (continued)** |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2023-B, AGI, AMT, 5.00% 7/1/2029  | USD<br> 2,500<br>| $2673 |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2023-B, AGI, AMT, 5.00% 7/1/2031  | 15320 | 16815 |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2021-A, AMT, 4.00% 7/1/2037  | 1085 | 1088 |
| City of Houston, Airport System Special Facs. Rev. Ref. Bonds (United Airlines, Inc. Terminal E Project), Series 2014, <br> AMT, 5.00% 7/1/2029  | 1030 | 1031 |
| City of Houston, Airport System Special Facs. Rev. Ref. Bonds (United Airlines, Inc. Terminal Improvement Projects), <br> Series 2020-A, AMT, 5.00% 7/1/2027  | 5595 | 5685 |
| City of Houston, Airport System Special Facs. Rev. Ref. Bonds (United Airlines, Inc. Terminal Improvement Projects), <br> Series 2020-B-2, AMT, 5.00% 7/15/2027  | 1750 | 1779 |
| City of Houston, Airport System Special Facs. Rev. Ref. Bonds (United Airlines, Inc. Terminal Improvement Projects), <br> Series 2020-C, AMT, 5.00% 7/15/2027  | 1425 | 1449 |
| City of Houston, Airport System Special Facs. Rev. Ref. Bonds (United Airlines, Inc. Terminal Improvement Projects), <br> Series 2025-B, AMT, 5.25% 7/15/2031  | 2000 | 2126 |
| City of Houston, Airport System Special Facs. Rev. Ref. Bonds (United Airlines, Inc. Terminal Improvement Projects), <br> Series 2025-B, AMT, 5.50% 7/15/2035  | 3000 | 3276 |
| Houston Independent School Dist., Maintenance Tax Notes, Series 2025-A, 5.00% 7/15/2045 (put 7/15/2028)  | 4000 | 4205 |
| Hutto Independent School Dist., Unlimited Tax School Building Bonds, Series 2015, 4.00% 2/1/2055 (put 8/1/2028)  | 1630 | 1684 |
| City of Irving, Hotel Occupancy Tax Rev. Ref. Bonds, Series 2019, 5.00% 8/15/2032  | 135 | 140 |
| Irving Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% 2/15/2034  | 6350 | 7195 |
| Katy Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2024, 5.00% 2/15/2036  | 2145 | 2450 |
| County of Kendall, Water Control and Improvement Dist. No. 2B, Unlimited Tax Bonds, Series 2025, 4.50% 9/1/2037  | 1150 | 1161 |
| County of Kendall, Water Control and Improvement Dist. No. 2B, Unlimited Tax Bonds, Series 2025, 4.875% 9/1/2046  | 1040 | 1052 |
| Klein Independent School Dist., Unlimited Tax Schoolhouse and Rev. Ref. Bonds (Permanent School Fund Guarantee <br> Program), Series 2025, 4.00% 8/1/2048  | 1550 | 1459 |
| City of Lavon, Special Assessment Rev. Bonds (Trails of Lavon Public Community Dist. Projects), Series 2025, 4.25% <br> 9/15/2032 <sup>(a)</sup>  | 340 | 345 |
| City of Lavon, Special Assessment Rev. Bonds (Trails of Lavon Public Community Dist. Projects), Series 2025, 5.75% <br> 9/15/2045 <sup>(a)</sup>  | 330 | 340 |
| Lazy Nine Municipal Utility Dist. No. 1A, Unlimited Tax Bonds, Series 2023, 5.625% 9/1/2042  | 500 | 514 |
| Lewisville Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2023, 5.00% 8/15/2030  | 1580 | 1758 |
| Little Elm Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 5.00% 8/15/2027  | 3000 | 3118 |
| Love Field Airport Modernization Corp., Special Facs. Rev. Bonds, Series 2012, AMT, 5.00% 11/1/2028  | 855 | 855 |
| Lower Colorado River Auth., Rev. Ref. Bonds, Series 2022, AGI, 5.00% 5/15/2026  | 585 | 590 |
| Lower Colorado River Auth., Rev. Ref. Bonds, Series 2020, 5.00% 5/15/2036  | 2035 | 2184 |
| Lower Colorado River Auth., Rev. Ref. Bonds, Series 2020, 5.00% 5/15/2037  | 2000 | 2134 |
| Lower Colorado River Auth., Rev. Ref. Bonds, Series 2020, 5.00% 5/15/2038  | 1005 | 1067 |
| Lower Colorado River Auth., Rev. Ref. Bonds, Series 2023-B, 5.00% 5/15/2039 (put 5/15/2028)  | 1340 | 1398 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series <br> 2020-A, 5.00% 5/15/2040  | 2000 | 2100 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series <br> 2025, 5.00% 5/15/2041  | 2500 | 2696 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series <br> 2025, 5.00% 5/15/2042  | 1275 | 1361 |
| City of Lubbock, Electric Light and Power System Rev. Ref. Bonds, Series 2023, AGI, 5.00% 4/15/2034  | 1000 | 1133 |
| Mabank Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2024, 5.00% 8/15/2030  | 400 | 443 |
| Mabank Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2024, 5.00% 8/15/2031  | 755 | 852 |
| County of Matagorda, Navigation Dist. No. 1, Pollution Control Rev. Ref. Bonds (Central Power and Light Co. Project), <br> Series 1996, AMT, 4.25% 5/1/2030  | 825 | 859 |
| McKinney Municipal Utility Dist. No. 2, Unlimited Tax Bonds, Series 2025, BAM, 4.25% 9/1/2039  | 870 | 878 |
| McKinney Municipal Utility Dist. No. 2, Unlimited Tax Bonds, Series 2025, BAM, 4.50% 9/1/2041  | 1875 | 1895 |
| Medina Valley Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% 2/15/2043  | 1605 | 1713 |
| Mesquite Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2025, 5.00% 8/15/2042  | 4340 | 4763 |
| Miralomas Municipal Utility Dist., Unlimited Tax Bonds, Series 2024, 4.375% 9/1/2042  | 1145 | 1083 |
| Mission Econ. Dev. Corp., Rev. Bonds (Natgasoline Project), Series 2018, AMT, 4.625% 10/1/2031 <sup>(a)</sup>  | 7690 | 7692 |
| Mission Econ. Dev. Corp., Solid Waste Disposal Rev. Bonds (Republic Services, Inc. Project), Series 2024, AMT, 4.00% <br> 6/1/2054 (put 6/1/2034)  | 2305 | 2321 |
| Mission Econ. Dev. Corp., Solid Waste Disposal Rev. Ref. Bonds (Graphic Packaging International, LLC Project), Series <br> 2025, AMT, 5.00% 12/1/2064 (put 6/1/2030)  | 2690 | 2789 |
| County of Montgomery, Municipal Utility Dist. No. 170, Contract Rev. Bonds (Road Facs.), Series 2024, 4.25% <br> 12/1/2036  | 1055 | 1068 |
| County of Montgomery, Municipal Utility Dist. No. 180, Unlimited Tax Road Bonds, Series 2024, 4.375% 9/1/2041  | 1520 | 1464 |
| Montgomery County Municipal Utility Dist. No. 138, Unlimited Tax Bonds, Series 2025, BAM, 4.00% 3/1/2037  | 570 | 573 |
| Montgomery County Municipal Utility Dist. No. 138, Unlimited Tax Bonds, Series 2025, BAM, 4.00% 3/1/2038  | 595 | 595 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **98** |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Texas (continued)** | **Texas (continued)** | **Texas (continued)** |
| Montgomery County Municipal Utility Dist. No. 138, Unlimited Tax Bonds, Series 2025, BAM, 4.00% 3/1/2039  | USD<br> 625<br>| $622 |
| Montgomery County Municipal Utility Dist. No. 138, Unlimited Tax Bonds, Series 2025, BAM, 4.125% 3/1/2040  | 655 | 653 |
| Montgomery County Municipal Utility Dist. No. 211, Unlimited Tax Bonds, Series 2025, 4.625% 9/1/2041  | 1015 | 1013 |
| Montgomery County, Municipal Utility Dist. No. 163, Contract Rev. Bonds (East Service Area), Series 2025, BAM, 4.00% <br> 11/1/2038  | 1050 | 1041 |
| Montgomery County, Municipal Utility Dist. No. 163, Contract Rev. Bonds (East Service Area), Series 2025, BAM, <br> 4.375% 11/1/2041  | 1235 | 1234 |
| Municipal Gas Acquisition and Supply Corp. IV, Gas Supply Rev. Bonds, Series 2023-A, 5.50% 1/1/2054 (put 1/1/2030)  | 4000 | 4252 |
| Municipal Gas Acquisition and Supply Corp. IV, Gas Supply Rev. Bonds, Series 2023-B, 5.50% 1/1/2054 (put 1/1/2034)  | 6435 | 7158 |
| Municipal Gas Acquisition and Supply Corp. V, Gas Supply Rev. Bonds, Series 2024, 5.00% 1/1/2055 (put 1/1/2034)  | 2500 | 2700 |
| Municipal Gas Acquisition and Supply Corp. VI, Gas Supply Rev. Bonds, Series 2025, 5.00% 1/1/2036  | 22000 | 23563 |
| New Hope Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Children's Health System of Texas Project), Series <br> 2025-A, 5.00% 8/15/2034  | 1250 | 1438 |
| New Hope Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Children's Health System of Texas Project), Series <br> 2025-A, 5.00% 8/15/2035  | 1320 | 1527 |
| New Hope Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Children's Health System of Texas Project), Series <br> 2025-A, 5.00% 8/15/2036  | 1300 | 1487 |
| New Hope Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Children's Health System of Texas Project), Series <br> 2025-A, 5.25% 8/15/2042  | 2410 | 2663 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Bella Vida Forefront Living Project), Series <br> 2025-B-3, 4.25% 10/1/2030  | 990 | 993 |
| New Hope Cultural Education Facs. Fin. Corp., Senior Living. Rev. Bonds (Superior Living Foundation Project), Series <br> 2025-A, 6.25% 7/1/2045 <sup>(a)</sup>  | 2000 | 1957 |
| North East Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2024, 3.75% 8/1/2049 (put 8/1/2027)  | 450 | 455 |
| North Fort Bend Water Auth., Water System Rev. and Rev. Ref. Bonds, Series 2021, BAM, 5.00% 12/15/2027  | 500 | 523 |
| North Texas Higher Education Auth., Inc., Education Loan Rev. Bonds, Senior Series 2025-A, AMT, 5.00% 6/1/2032  | 300 | 321 |
| North Texas Higher Education Auth., Inc., Education Loan Rev. Bonds, Senior Series 2025-A, AMT, 5.00% 6/1/2033  | 145 | 155 |
| North Texas Higher Education Auth., Inc., Education Loan Rev. Bonds, Senior Series 2024-1-A, AMT, 4.125% 6/1/2045  | 1200 | 1182 |
| North Texas Higher Education Auth., Inc., Education Loan Rev. Bonds, Senior Series 2025-A, AMT, 4.50% 6/1/2046  | 2415 | 2443 |
| North Texas Municipal Water Dist., Wastewater Interceptor System Contract Rev. Ref. and Improvement Bonds, Series <br> 2024, 5.00% 6/1/2030  | 2935 | 3239 |
| North Texas Municipal Water Dist., Wastewater Interceptor System Contract Rev. Ref. and Improvement Bonds, Series <br> 2024, 5.00% 6/1/2031  | 3085 | 3468 |
| North Texas Municipal Water Dist., Water System Rev. Ref. and Improvement Bonds, Series 2021, 3.00% 9/1/2036  | 420 | 398 |
| North Texas Municipal Water Dist., Water System Rev. Ref. and Improvement Bonds, Series 2025, 5.00% 9/1/2044  | 2500 | 2659 |
| North Texas Tollway Auth., System Rev. and Rev. Ref. Bonds, Series 2021-B, 4.00% 1/1/2036  | 500 | 507 |
| North Texas Tollway Auth., System Rev. Ref. Bonds, Series 2024-B, 5.00% 1/1/2033  | 2450 | 2793 |
| North Texas Tollway Auth., System Rev. Ref. Bonds, Series 2024-B, 5.00% 1/1/2034  | 2420 | 2780 |
| North Texas Tollway Auth., System Rev. Ref. Bonds, Series 2024-A, 5.00% 1/1/2035  | 710 | 815 |
| North Texas Tollway Auth., System Rev. Ref. Bonds, CAB, Series 2008-D, AGI, 0% 1/1/2030  | 2555 | 2269 |
| Northlake Municipal Management Dist. No. 2, Unlimited Tax Road Bonds, Series 2025, AGI, 4.375% 3/1/2041  | 1200 | 1203 |
| Northside Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.00% 8/15/2041  | 1450 | 1601 |
| Northside Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.00% 8/15/2042  | 1500 | 1638 |
| Northwest Independent School Dist., Unlimited Tax School Building Bonds, Series 2024-A, 5.00% 2/15/2049  | 2590 | 2684 |
| City of Pflugerville, Special Assessment Rev. Bonds (Meadowlark Preserve Public Improvement Dist. Project), Series <br> 2025, 4.25% 9/1/2033 <sup>(a)</sup>  | 450 | 453 |
| Pine Forest Municipal Utility Dist., Unlimited Tax Bonds, Series 2025, 5.00% 9/1/2043  | 1125 | 1140 |
| Plano Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.00% 2/15/2033  | 1790 | 2057 |
| Plano Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 4.00% 2/15/2043  | 2020 | 2016 |
| Port Arthur Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.00% 2/15/2036  | 1000 | 1154 |
| Port Arthur Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.00% 2/15/2040  | 2500 | 2790 |
| Princeton Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.00% 2/15/2044  | 1100 | 1175 |
| Princeton Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.00% 2/15/2045  | 1150 | 1221 |
| Rancho Del Cielo Municipal Utility Dist., Unlimited Tax Bonds, Series 2024, 4.375% 8/15/2053  | 350 | 310 |
| Riceland Management Dist., Unlimited Tax Road Bonds, Series 2024, 4.25% 9/1/2034  | 1000 | 1013 |
| Riceland Municipal Utility Dist. No. 1, Unlimited Tax Bonds, Series 2024, 4.375% 9/1/2039  | 1000 | 1010 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2017, 5.00% 2/1/2027  | 1215 | 1248 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2024-D, 5.00% 2/1/2029  | 525 | 564 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2017, 5.00% 2/1/2033  | 1500 | 1535 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2024-D, 5.00% 2/1/2037  | 2005 | 2296 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2024-B, 5.00% 2/1/2042  | 1500 | 1625 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2024-D, 5.00% 2/1/2049  | 3015 | 3130 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2025-A, 3.08% 2/1/2055 (put 12/1/2028)  | 8905 | 8939 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **99** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Texas (continued)** | **Texas (continued)** | **Texas (continued)** |
| City of San Antonio, General Improvement Bonds, Series 2024, 5.00% 2/1/2035  | USD<br> 1,175<br>| $1350 |
| City of San Antonio, Water System Rev. and Rev. Ref. Bonds, Series 2023-A, 5.00% 5/15/2040  | 1000 | 1090 |
| Sherman Independent School Dist., Unlimited Tax School Building Bonds, Series 2023-B, 5.00% 2/15/2040  | 500 | 548 |
| Greater Texoma Utility Auth., Contract Rev. Bonds (City of Sherman Project), Series 2024-A, BAM, 5.00% 10/1/2029  | 1000 | 1085 |
| Socorro Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2017-B, 5.00% 8/15/2029  | 3755 | 3903 |
| South San Antonio Independent School Dist., Unlimited Tax School Building Bonds, Series 2005, 5.50% 8/15/2030  | 3500 | 3820 |
| Southwest Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% 2/1/2041  | 1500 | 1615 |
| Spring Branch Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2025, 5.00% <br> 2/1/2041  | 2000 | 2217 |
| Spring Branch Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2025, 5.00% <br> 2/1/2042  | 1725 | 1892 |
| Spring Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2025, 5.25% 8/15/2046  | 6590 | 7138 |
| Spring Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% 8/15/2047  | 2855 | 2972 |
| Stanton Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.00% 2/15/2036  | 1025 | 1167 |
| Surface Transportation Corp., Private Activity Rev. Ref. Bonds (NTE Mobility Partners Segments 3 LLC), Series 2023, <br> AMT, 5.50% 6/30/2040  | 1500 | 1588 |
| County of Tarrant, Karis Municipal Management Dist., Unlimited Tax Utility Bonds, Series 2025, 4.50% 12/1/2041  | 1030 | 1042 |
| Tarrant County Cultural Education Facs. Fin. Corp., Rev. Bonds (Ascension Senior Credit Group), Series 2025-C-2, <br> 5.00% 11/15/2051 (put 11/15/2035)  | 5000 | 5702 |
| Tarrant County Cultural Education Facs. Fin. Corp., Rev. Bonds (Christus Health), Series 2018-B, 5.00% 7/1/2036  | 1270 | 1334 |
| Tarrant Regional Water Dist., Water Transmission Facs. Contract Rev. Bonds, Series 2025, 5.00% 9/1/2034  | 2015 | 2335 |
| Tarrant Regional Water Dist., Water Transmission Facs. Contract Rev. Bonds, Series 2025, 5.00% 9/1/2037  | 7680 | 8702 |
| Board of Regents of Texas A&M University System, Rev. Fncg. System Bonds, Series 2024-A, 5.00% 5/15/2041  | 3000 | 3310 |
| Board of Regents of the Texas A&M University System, Permanent University Fund Bonds, Series 2023, 5.00% 7/1/2026  | 4000 | 4049 |
| Board of Regents of the Texas A&M University System, Permanent University Fund Bonds, Series 2023, 5.00% 7/1/2042  | 2005 | 2156 |
| Board of Regents of the Texas State University System, Rev. Fncg. System Rev. and Rev. Ref. Bonds, Series 2019-A, <br> 5.00% 3/15/2033  | 500 | 533 |
| Board of Regents of the Texas State University System, Rev. Fncg. System Rev. and Rev. Ref. Bonds, Series 2024, 5.00% <br> 3/15/2041  | 950 | 1039 |
| Tomball Business Improvement Dist. No. 1, Unlimited Tax Bonds, Series 2024, 4.00% 11/15/2038  | 1230 | 1199 |
| Tomball Business Improvement Dist. No. 1, Unlimited Tax Bonds, Series 2024, 4.00% 11/15/2041  | 1425 | 1334 |
| Transportation Commission, Central Texas Turnpike System Rev. Ref. Bonds, Series 2024-C, 5.00% 8/15/2039  | 3135 | 3483 |
| Transportation Commission, GO Highway Improvement Rev. Ref. Bonds, Series 2024, 5.00% 4/1/2032  | 1625 | 1850 |
| Transportation Fin. Corp., Toll Rev. Ref. Bonds (TELA Supported), Series 2025-A, 5.00% 10/1/2037  | 3250 | 3762 |
| Transportation Fin. Corp., Toll Rev. Ref. Bonds (TELA Supported), Series 2025-A, 5.00% 10/1/2041  | 5750 | 6381 |
| Turnpike Auth., Central Texas Turnpike System, Rev. Bonds, CAB, Series 2002-A, AMBAC, 0% 8/15/2027  | 4945 | 4717 |
| Board of Regents of the University of Houston System, Consolidated Rev. and Rev. Ref. Bonds, Series 2017-C, 5.00% <br> 2/15/2026  | 1590 | 1595 |
| Board of Regents of the University of Houston System, Consolidated Rev. and Rev. Ref. Bonds, Series 2020-A, 3.00% <br> 2/15/2036  | 4030 | 3894 |
| Board of Regents of the University of Houston System, Consolidated Rev. and Rev. Ref. Bonds, Series 2022-A, 5.00% <br> 2/15/2037  | 1000 | 1100 |
| Board of Regents of the University of North Texas System, Rev. Fncg. System Rev. Ref. and Improvement Bonds, Series <br> 2025-A, 5.00% 4/15/2032  | 1875 | 2125 |
| Board of Regents of the University of Texas System, Permanent University Fund Bonds, Series 2024-A, 5.00% 7/1/2036  | 2185 | 2523 |
| Board of Regents of the University of Texas System, Permanent University Fund Bonds, Series 2024-A, 5.00% 7/1/2038  | 1150 | 1308 |
| Board of Regents of the University of Texas System, Permanent University Fund Bonds, Series 2024-A, 4.00% 7/1/2049  | 1500 | 1403 |
| Board of Regents of the University of Texas System, Rev. Fncg. System Bonds, Series 2025-B, 5.00% 8/15/2033  | 1415 | 1643 |
| Board of Regents of the University of Texas System, Rev. Fncg. System Bonds, Series 2025-B, 5.00% 8/15/2036  | 17750 | 20756 |
| Waco Education Fin. Corp., Rev. Bonds (Baylor University Issue), Series 2021, 4.00% 3/1/2040  | 500 | 504 |
| Waller Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.00% 2/15/2045  | 3000 | 3184 |
| Water Dev. Board, State Revolving Fund Rev. Bonds, Series 2021, 5.00% 8/1/2032  | 1270 | 1428 |
| Water Dev. Board, State Revolving Fund Rev. Bonds, Series 2025, 5.00% 8/1/2039  | 2270 | 2576 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2025, 5.00% 4/15/2033  | 8085 | 9330 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2023-A, 5.00% 10/15/2035  | 1000 | 1145 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2024-A, 5.00% 10/15/2038  | 5020 | 5688 |
| County of Williamson, Municipal Utility Dist. No. 51, Unlimited Tax Road Bonds, Series 2024, 4.25% 9/1/2038  | 1380 | 1370 |
| Williamson County, Limited Tax Rev. Ref. and Park Bonds, Series 2025, 5.00% 2/15/2030  | 1035 | 1134 |
| Williamson County, Limited Tax Rev. Ref. and Park Bonds, Series 2025, 5.00% 2/15/2036  | 1400 | 1624 |
|  |  | 614149 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **100** |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **United States 0.32%** | **United States 0.32%** | **United States 0.32%** |
| Freddie Mac, Multi Family Certs., Series 2023, 4.003% 1/25/2040 <sup>(b)</sup>  | USD<br> 536<br>| $523 |
| Freddie Mac, Multi Family Certs., Green Bonds, Series 2025, 4.387% 11/25/2042 <sup>(b)</sup>  | 3754 | 3687 |
| Freddie Mac, Multi Family Mortgage Certs., Green Bonds, Series 2024, 3.158% 12/25/2038 <sup>(b)</sup>  | 4948 | 4372 |
| Freddie Mac, Multi Family Mortgage Green Bonds, Series 2023, Class ACA, 2.25% 9/25/2037  | 1212 | 1026 |
| Freddie Mac, Multi Family Mortgage Green Bonds, Series 2024, 3.427% 11/25/2038 <sup>(b)</sup>  | 1972 | 1860 |
| Freddie Mac, Multi Family Mortgage Green Bonds, Series 2023, Class A, 2.99% 4/25/2043 <sup>(b)</sup>  | 4753 | 4109 |
|  |  | 15577 |
| **Utah 1.04%** | **Utah 1.04%** | **Utah 1.04%** |
| Downtown Revitalization Public Infrastructure Dist., Sales Tax Rev. Bonds (SEG Redev. Project), Series 2025-C, 5.00% <br> 7/15/2035 <sup>(a)</sup>  | 335 | 337 |
| Downtown Revitalization Public Infrastructure Dist., Sales Tax Rev. Bonds (SEG Redev. Project), Series 2025-A, 5.00% <br> 6/1/2038  | 1000 | 1062 |
| Downtown Revitalization Public Infrastructure Dist., Sales Tax Rev. Bonds (SEG Redev. Project), Series 2025-A, 5.25% <br> 6/1/2041  | 950 | 1056 |
| Housing Corp., Single Family Mortgage Bonds, Series 2023-A, 6.00% 7/1/2053  | 885 | 950 |
| Housing Corp., Single Family Mortgage Bonds, Series 2024-A, 6.50% 1/1/2054  | 245 | 267 |
| Housing Corp., Single Family Mortgage Bonds, Series 2024-C, 6.00% 7/1/2054  | 1180 | 1298 |
| Housing Corp., Single Family Mortgage Bonds, Series 2024-G, 6.25% 7/1/2055  | 3230 | 3611 |
| Housing Corp., Single Family Mortgage Bonds, Series 2024-I, 6.25% 7/1/2055  | 4355 | 4885 |
| MIDA Mountain Village Public Infrastructure Dist., Special Assessment Rev. Bonds (Mountain Village Assessment Area <br> #2), Series 2021, 4.00% 8/1/2027 <sup>(a)</sup>  | 450 | 451 |
| MIDA Mountain Village Public Infrastructure Dist., Special Assessment Rev. Bonds (Mountain Village Assessment Area <br> #2), Series 2021, 4.00% 8/1/2029 <sup>(a)</sup>  | 950 | 957 |
| MIDA Mountain Village Public Infrastructure Dist., Special Assessment Rev. Bonds (Mountain Village Assessment Area <br> #2), Series 2021, 4.00% 8/1/2030 <sup>(a)</sup>  | 445 | 447 |
| MIDA Mountain Village Public Infrastructure Dist., Special Assessment Rev. Bonds (Mountain Village Assessment Area <br> #2), Series 2021, 4.00% 8/1/2031 <sup>(a)</sup>  | 770 | 774 |
| MIDA Mountain Village Public Infrastructure Dist., Special Assessment Rev. Bonds (Mountain Village Assessment Area), <br> Series 2020-A, 4.25% 8/1/2035 <sup>(a)</sup>  | 455 | 458 |
| MIDA Mountain Village Public Infrastructure Dist., Tax Allocation Rev. Bonds, Series 2024-2, 5.50% 6/15/2039 <sup>(a)</sup>  | 1920 | 1974 |
| MIDA Mountain Village Public Infrastructure Dist., Tax Allocation Rev. Bonds, CAB, Series 2025-2, 0% 6/1/2035 (5.00% <br> on 6/1/2031) <sup>(a)(c)</sup>  | 500 | 386 |
| MIDA Mountain Village Public Infrastructure Dist., Tax Allocation Rev. Bonds, CAB, Series 2025-2, 0% 6/1/2043 (5.75% <br> on 6/1/2031) <sup>(a)(c)</sup>  | 370 | 275 |
| Military Installation Dev. Auth., Tax Allocation Rev. Bonds, Series 2021-A-2, 4.00% 6/1/2036  | 1000 | 971 |
| Nebo School Dist., Local Building Auth., Lease Rev. Bonds, Series 2020, 2.125% 7/1/2033  | 2910 | 2686 |
| NS Public Infrastructure Dist. No. 1, Special Assessment Bonds (NS Assessment Area No. 1), Series 2024, 6.00% <br> 12/1/2044 <sup>(a)</sup>  | 1000 | 946 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2018-A, AMT, 5.00% 7/1/2028  | 1500 | 1576 |
| Three Bridges Public Infrastructure Dist. No. 1, Special Assessment Bonds (Three Bridges Assessment Area No. 1), <br> Series 2024-1, 5.00% 12/1/2036 <sup>(a)(f)</sup>  | 2875 | 2899 |
| Transit Auth., Sales Tax Rev. Ref. Bonds, Series 2024, 5.00% 6/15/2030  | 875 | 970 |
| Transit Auth., Sales Tax Rev. Ref. Bonds, Series 2025, 5.00% 12/15/2044  | 17710 | 19219 |
| County of Utah, Hospital Rev. Bonds (IHC Health Services, Inc.), Series 2018-A, 5.00% 5/15/2037  | 1400 | 1459 |
|  |  | 49914 |
| **Vermont 0.32%** | **Vermont 0.32%** | **Vermont 0.32%** |
| Econ. Dev. Auth., Mortgage Rev. Bonds (Wake Robin Corp. Project), Series 2021-A, 4.00% 5/1/2037  | 500 | 482 |
| Econ. Dev. Auth., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2013, AMT, 4.625% <br> 4/1/2036 (put 4/3/2028) <sup>(a)</sup>  | 500 | 505 |
| Econ. Dev. Auth., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2022-A-2, AMT, 4.375% <br> 6/1/2052 (put 6/1/2032) <sup>(a)</sup>  | 1505 | 1516 |
| Educational and Health Buildings Fncg. Agcy., Rev. Bonds (The University of Vermont Medical Center Project), Series <br> 2016-A, 5.00% 12/1/2033  | 2500 | 2515 |
| Educational and Health Buildings Fncg. Agcy., Rev. Bonds (The University of Vermont Medical Center Project), Series <br> 2016-A, 5.00% 12/1/2035  | 4500 | 4521 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **101** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Vermont (continued)** | **Vermont (continued)** | **Vermont (continued)** |
| Educational and Health Buildings Fncg. Agcy., Rev. Bonds (The University of Vermont Medical Center Project), Series <br> 2016-A, 5.00% 12/1/2036  | USD<br> 5,000<br>| $5021 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2021-A, AMT, 2.375% 6/15/2039  | 460 | 425 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2023-A, AMT, 4.00% 6/15/2041  | 395 | 380 |
|  |  | 15365 |
| **Virgin Islands 0.07%** | **Virgin Islands 0.07%** | **Virgin Islands 0.07%** |
| Matching Fund Special Purpose Securitization Corp., Matching Fund Securitization Bonds, Series 2022-A, 5.00% <br> 10/1/2026  | 500 | 505 |
| Matching Fund Special Purpose Securitization Corp., Matching Fund Securitization Bonds, Series 2022-A, 5.00% <br> 10/1/2030  | 1000 | 1045 |
| Matching Fund Special Purpose Securitization Corp., Matching Fund Securitization Bonds, Series 2022-A, 5.00% <br> 10/1/2032  | 1815 | 1920 |
|  |  | 3470 |
| **Virginia 0.89%** | **Virginia 0.89%** | **Virginia 0.89%** |
| Alexandria Redev. and Housing Auth., Multi Family Housing Rev. Bonds (431 S Columbus St Block 4), Series 2024, <br> 3.20% 12/1/2054 (put 6/1/2027)  | 1315 | 1316 |
| County of Arlington, Industrial Dev. Auth., Multifamily Housing Rev. Bonds (Barcroft-Charlie 2 and Barcroft-Bravo 5), <br> Series 2025, 3.10% 12/1/2055 (put 2/1/2027)  | 1155 | 1155 |
| County of Arlington, Industrial Dev. Auth., Multifamily Housing Rev. Bonds (Park Shirlington Apartments), Series <br> 2023-A, 5.00% 1/1/2026  | 3275 | 3275 |
| County of Charles City, Econ. Dev. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series <br> 2004-A, 2.875% 2/1/2029  | 500 | 493 |
| Chesapeake Redev. and Housing Auth., Multi Family Housing Rev. Bonds (Hunters Point Apartments), Series 2023, <br> 5.00% 5/1/2043 (put 5/1/2026)  | 1310 | 1318 |
| College Building Auth., Educational Facs. Rev. Bonds (21st Century College and Equipment Programs), Series 2019-A, <br> 4.00% 2/1/2034  | 1040 | 1072 |
| College Building Auth., Educational Facs. Rev. Ref. Bonds (21st Century College and Equipment Programs), Series <br> 2017-E, 5.00% 2/1/2031  | 6025 | 6340 |
| County of Fairfax, Redev. and Housing Auth., Multi Family Housing Rev. Bonds (Dominion Square North Project), Series <br> 2023, 5.00% 1/1/2045 (put 1/1/2028)  | 250 | 257 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. and Rev. Ref. Bonds (Longwood University Student <br> Housing Project), Series 2018-A, 5.00% 1/1/2032  | 500 | 514 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing <br> Project), Series 2018-A, 5.00% 1/1/2033  | 270 | 277 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing <br> Project), Series 2018-A, 5.00% 1/1/2043  | 3000 | 2887 |
| Town of Louisa, Industrial Dev. Auth., Pollution Control Rev. Ref. Bonds (Virginia Electric and Power Co. Project), Series <br> 2008-C, 3.80% 11/1/2035 (put 5/28/2027)  | 600 | 607 |
| City of Norfolk, Redev. and Housing Auth., Multi Family Housing Rev. Bonds (Braywood Manor Apartments), Series <br> 2023, 5.00% 5/1/2043 (put 5/1/2026)  | 100 | 101 |
| Public Building Auth., Public Facs. Rev. Bonds, Series 2025-A, 5.00% 8/1/2029  | 4245 | 4620 |
| Public Building Auth., Public Facs. Rev. Bonds, Series 2021-A, 5.00% 8/1/2032  | 3450 | 3886 |
| Richmond Redev. and Housing Auth., Multi Family Housing Rev. Bonds (Joyfield at German School Road), Series 2025, <br> 3.10% 12/1/2055 (put 12/1/2026)  | 275 | 275 |
| Small Business Fncg. Auth., Residential Care Facs. Rev. and Rev. Ref. Bonds (LifeSpire of Virginia), Series 2021, 4.00% <br> 12/1/2036  | 575 | 577 |
| Small Business Fncg. Auth., Residential Care Facs. Rev. and Rev. Ref. Bonds (LifeSpire of Virginia), Series 2021, 4.00% <br> 12/1/2041  | 1030 | 982 |
| Small Business Fncg. Auth., Residential Care Facs. Rev. Ref. Bonds (LifeSpire of Virginia), Series 2024-A, 5.00% <br> 12/1/2039  | 435 | 461 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 5.00% <br> 1/1/2026  | 975 | 975 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 5.00% <br> 1/1/2034  | 550 | 578 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 4.00% <br> 1/1/2037  | 1385 | 1399 |
| Small Business Fncg. Auth., Rev. Ref. Bonds (Elizabeth River Crossings Opco, LLC Project), Series 2022, AMT, 4.00% <br> 7/1/2029  | 500 | 510 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **102** |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Virginia (continued)** | **Virginia (continued)** | **Virginia (continued)** |
| Small Business Fncg. Auth., Rev. Ref. Bonds (Elizabeth River Crossings Opco, LLC Project), Series 2022, AMT, 4.00% <br> 7/1/2031  | USD<br> 2,925<br>| $3004 |
| Virginia Beach Dev. Auth., Residential Care Fac. Rev. Bonds (Westminster-Canterbury on Chesapeake Bay), Series <br> 2023-B-3, 5.375% 9/1/2029  | 1385 | 1401 |
| County of Wise, Industrial Dev. Auth., Solid Waste and Sewage Disposal Rev. Bonds (Virginia Electric and Power Co. <br> Project), Series 2009-A, 3.125% 10/1/2040 (put 10/1/2030)  | 4375 | 4393 |
|  |  | 42673 |
| **Washington 3.47%** | **Washington 3.47%** | **Washington 3.47%** |
| Central Puget Sound Regional Transit Auth., Sales Tax and Motor Vehicle Excise Tax Improvement and Rev. Ref. Green <br> Bonds, Series 2021-S-1, 5.00% 11/1/2031  | 2620 | 2985 |
| Certs. of Part. (State and Local Agcy. Real and Personal Property), Series 2025-A, 5.00% 1/1/2031  | 4110 | 4587 |
| Certs. of Part. (State and Local Agcy. Real and Personal Property), Series 2025-A, 5.00% 1/1/2032  | 3905 | 4427 |
| Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 4.00% 7/1/2043  | 500 | 463 |
| Energy Northwest, Electric Rev. and Rev. Ref. Bonds (Columbia Generating Station), Series 2022-A, 5.00% 7/1/2032  | 1850 | 2120 |
| Energy Northwest, Electric Rev. and Rev. Ref. Bonds (Columbia Generating Station), Series 2023-A, 5.00% 7/1/2038  | 4400 | 4923 |
| Energy Northwest, Electric Rev. Ref. Bonds (Columbia Generating Station), Series 2025-A, 5.00% 7/1/2031  | 750 | 847 |
| Energy Northwest, Electric Rev. Ref. Bonds (Columbia Generating Station), Series 2025-A, 5.00% 7/1/2032  | 2750 | 3148 |
| Energy Northwest, Electric Rev. Ref. Bonds (Columbia Generating Station), Series 2025-A, 5.00% 7/1/2042  | 1000 | 1105 |
| Energy Northwest, Electric Rev. Ref. Bonds (Project No. 1), Series 2025-A, 5.00% 7/1/2033  | 2000 | 2324 |
| GO Bonds, Series 2020-A, 5.00% 8/1/2039  | 680 | 718 |
| GO Bonds, Series 2021-A-2, 5.00% 8/1/2039  | 1360 | 1457 |
| GO Bonds, Series 2024-C, 5.00% 2/1/2041  | 1645 | 1811 |
| GO Bonds, Series 2023-A, 5.00% 8/1/2044  | 1240 | 1319 |
| Health Care Facs. Auth., Rev. Bonds (Providence St. Joseph Health), Series 2014-D, 5.00% 10/1/2041  | 1500 | 1501 |
| Health Care Facs. Auth., Rev. Bonds (Providence St. Joseph Health), Series 2014-C, 5.00% 10/1/2044  | 500 | 500 |
| Health Care Facs. Auth., Rev. Bonds (Seattle Cancer Care Alliance), Series 2021, 4.00% 12/1/2040 <sup>(a)</sup>  | 1790 | 1776 |
| Health Care Facs. Auth., Rev. Bonds (Seattle Children's Hospital), Series 2017-A, 5.00% 10/1/2047  | 2675 | 2693 |
| Health Care Facs. Auth., Rev. Bonds (Virginia Mason Medical Center), Series 2017, 5.00% 8/15/2037  | 355 | 362 |
| Health Facs. Auth., Rev. Bonds (CommonSpirit Health), Series 2019-A-1, 5.00% 8/1/2039  | 3090 | 3206 |
| Housing Fin. Commission, Multi Family Housing Rev. Bonds (Ardea at Totem Lake Apartments Project), Series 2023, <br> 5.00% 12/1/2043 (put 2/1/2027)  | 830 | 836 |
| Housing Fin. Commission, Multi Family Housing Rev. Bonds (Camas Flats Apartments Project), Series 2024-B, 5.00% <br> 2/1/2028 (put 2/1/2027)  | 255 | 260 |
| Housing Fin. Commission, Municipal Certs., Series 2021-1, 3.50% 12/20/2035  | 5514 | 5366 |
| Housing Fin. Commission, Municipal Certs., Series 2023-1, 1.451% 4/20/2037 <sup>(b)</sup>  | 1685 | 162 |
| Housing Fin. Commission, Municipal Certs., Series 2023-1, 3.375% 4/20/2037  | 3352 | 3174 |
| Housing Fin. Commission, Municipal Certs., Series 2025-1-A, 3.947% 11/20/2041 <sup>(b)</sup>  | 3489 | 3360 |
| Housing Fin. Commission, Municipal Certs., Series 2024-1-A, 4.084% 3/20/2040 <sup>(b)</sup>  | 13729 | 13474 |
| Housing Fin. Commission, Nonprofit Housing Rev. Bonds (Parkshore Juanita Bay Project), Series 2024-B-1, 4.50% <br> 7/1/2030 <sup>(a)</sup>  | 690 | 690 |
| Housing Fin. Commission, Nonprofit Housing Rev. Bonds (Parkshore Juanita Bay Project), Series 2024-A, 4.75% <br> 1/1/2034 <sup>(a)</sup>  | 940 | 941 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2018-1-N, 4.00% 12/1/2048  | 155 | 156 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2020-2-N, 3.00% 12/1/2050  | 290 | 286 |
| Kalispel Tribe of Indians, Priority Distribution Payment Bonds, Series 2018-A, 5.00% 1/1/2032 <sup>(a)</sup>  | 500 | 510 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Green Notes, Series 2021, 4.00% 7/1/2031  | 750 | 774 |
| County of King, Limited Tax GO Bonds, Series 2019-B, 5.00% 7/1/2026  | 1200 | 1215 |
| County of King, Unlimited Tax GO Bonds, Series 2025-A, 5.00% 12/1/2038  | 6210 | 7146 |
| Motor Vehicle Fuel Tax and Vehicle Related Fees GO Bonds, Series 2021-E, 5.00% 6/1/2029  | 1000 | 1085 |
| Motor Vehicle Fuel Tax and Vehicle Related Fees GO Bonds, Series 2024-R-C, 5.00% 8/1/2031  | 540 | 610 |
| Motor Vehicle Fuel Tax and Vehicle Related Fees GO Bonds, Series 2025-D, 5.00% 6/1/2042  | 1085 | 1194 |
| Motor Vehicle Fuel Tax GO Bonds, CAB, Series 2005-F, AMBAC, 0% 12/1/2029  | 1970 | 1777 |
| Motor Vehicle Fuel Tax GO Rev. Ref. Bonds, Series 2025-R-C, 5.00% 7/1/2028  | 4790 | 5092 |
| Motor Vehicle Fuel Tax GO Rev. Ref. Bonds, Series 2024-R-C, 5.00% 8/1/2030  | 2165 | 2404 |
| North Thurston Public Schools, Unlimited Tax GO Rev. Ref. Bonds, Series 2024, 5.00% 12/1/2032  | 1750 | 2008 |
| City of Seattle, Drainage and Wastewater System Improvement and Rev. Ref. Bonds, Series 2025, 5.00% 5/1/2039  | 1050 | 1198 |
| Port of Seattle, Industrial Dev. Corp., Special Facs. Rev. Ref. Bonds (Delta Air Lines, Inc. Project), Series 2012, AMT, <br> 5.00% 4/1/2030  | 500 | 500 |
| Port of Seattle, Intermediate Lien Rev. and Rev. Ref. Bonds, Series 2024-B, AMT, 5.00% 7/1/2030  | 3840 | 4168 |
| Port of Seattle, Rev. Ref. Bonds, Series 2024-B, AMT, 5.00% 7/1/2028  | 5150 | 5412 |
| Port of Seattle, Rev. Ref. Bonds, Series 2024-B, AMT, 5.00% 7/1/2029  | 3475 | 3709 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **103** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Washington (continued)** | **Washington (continued)** | **Washington (continued)** |
| Various Purpose GO Bonds, Series 2024-C, 5.00% 2/1/2029  | USD<br> 4,600<br>| $4952 |
| Various Purpose GO Bonds, Series 2025-R-A, 5.00% 7/1/2036  | 5320 | 6144 |
| Various Purpose GO Bonds, Series 2023-B, 5.00% 2/1/2037  | 5050 | 5684 |
| Various Purpose GO Bonds, Series 2026-A, 5.00% 8/1/2037  | 11380 | 13207 |
| Various Purpose GO Bonds, Series 2024-C, 5.00% 2/1/2038  | 1095 | 1242 |
| Various Purpose GO Bonds, Series 2026-A, 5.00% 8/1/2039  | 10000 | 11436 |
| Various Purpose GO Bonds, Series 2026-A, 5.00% 8/1/2043  | 10000 | 10909 |
| Various Purpose GO Bonds, Series 2023-A, 5.00% 8/1/2046  | 1940 | 2027 |
| Various Purpose GO Rev. Ref. Bonds, Series 2025-R-B, 5.00% 7/1/2033  | 1115 | 1291 |
|  |  | 166671 |
| **West Virginia 0.19%** | **West Virginia 0.19%** | **West Virginia 0.19%** |
| Econ. Dev. Auth., Solid Waste Disposal Facs. Rev. Bonds (Commercial Metals Co. Project), Series 2025, AMT, 4.625% <br> 4/15/2055 (put 5/15/2032)  | 1500 | 1519 |
| Econ. Dev. Auth., Solid Waste Disposal Facs. Rev. Bonds (Core Natural Resources, Inc. Project), Series 2025, AMT, <br> 5.45% 1/1/2055 (put 3/27/2035) <sup>(a)</sup>  | 1550 | 1651 |
| Econ. Dev. Auth., Solid Waste Disposal Facs. Rev. Ref. Bonds (Kentucky Power Co. - Mitchell Project), Series 2014-A, <br> AMT, 4.70% 4/1/2036 (put 6/17/2026)  | 400 | 402 |
| Hospital Fin. Auth., Hospital Rev. and Improvement Bonds (West Virginia University Health System Obligated Group), <br> Series 2023-A, 4.125% 6/1/2042  | 2000 | 1960 |
| Hospital Fin. Auth., Hospital Rev. and Improvement Bonds (West Virginia University Health System Obligated Group), <br> Series 2017-A, 5.00% 6/1/2042  | 2750 | 2766 |
| Hospital Fin. Auth., Hospital Rev. Ref. and Improvement Rev. Bonds (Vandalia Health Group), Series 2023-B, 6.00% <br> 9/1/2048  | 900 | 979 |
|  |  | 9277 |
| **Wisconsin 2.32%** | **Wisconsin 2.32%** | **Wisconsin 2.32%** |
| Ascension Health Rev. Bonds (Ascension Senior Credit Group), Series 2016-A, 5.00% 11/15/2026  | 1000 | 1007 |
| General Fund Annual Appropriation Rev. Ref. Bonds, Series 2019-A, 5.00% 5/1/2029 (preref. 5/1/2027)  | 3585 | 3706 |
| GO Bonds, Series 2019-B, 5.00% 5/1/2027  | 1330 | 1375 |
| GO Bonds, Series 2020, 5.00% 5/1/2034  | 1140 | 1224 |
| GO Bonds, Series 2025-B, 5.00% 5/1/2036  | 10000 | 11643 |
| GO Bonds, Series 2024-C, 5.00% 5/1/2038  | 6485 | 7379 |
| GO Rev. Ref. Bonds, Series 2025-3, 5.00% 5/1/2032  | 2400 | 2751 |
| GO Rev. Ref. Bonds, Series 2025-1, 5.00% 5/1/2033  | 2060 | 2392 |
| GO Rev. Ref. Bonds, Series 2023-2, 5.00% 5/1/2036  | 2790 | 3182 |
| Health and Educational Facs. Auth., Rev. Bonds (Advocate Aurora Health Care Credit Group), Series 2018-C-3, 5.00% <br> 8/15/2054 (put 6/24/2026)  | 655 | 661 |
| Health and Educational Facs. Auth., Rev. Bonds (Ascension Health Alliance), Series 2013-B-1, 4.00% 11/15/2043  | 670 | 639 |
| Health and Educational Facs. Auth., Rev. Bonds (Ascension Health Alliance), Series 2013-B-1, 4.00% 11/15/2043 <br> (preref. 5/15/2028)  | 80 | 83 |
| Health and Educational Facs. Auth., Rev. Bonds (Chiara Housing and Services, Inc. Project), Series 2024, 5.00% <br> 7/1/2035  | 3950 | 4036 |
| Health and Educational Facs. Auth., Rev. Bonds (Dickson Hollow Phase II Project), Series 2024, 5.45% 10/1/2039  | 280 | 296 |
| Health and Educational Facs. Auth., Rev. Bonds (Hope Christian Schools Obligated Group), Series 2021, 3.00% <br> 12/1/2031  | 345 | 300 |
| Health and Educational Facs. Auth., Rev. Bonds (Three Pillars Senior Living Communities), Series 2024-B-2, 4.20% <br> 8/15/2028  | 280 | 280 |
| Housing and Econ Dev. Auth., Multi Family Housing Bonds (100 E. National Project), Series 2024-J, 5.00% 8/1/2058 <br> (put 8/1/2026)  | 370 | 374 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2018-D, 4.00% 3/1/2047  | 1005 | 1010 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2019-A, 4.25% 3/1/2049  | 4975 | 5028 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2019-C, 3.75% 3/1/2050  | 2430 | 2433 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2025-A, 6.25% 9/1/2055  | 7665 | 8533 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds (Social Bonds), Series 2024-C, 6.00% 3/1/2055  | 2295 | 2508 |
| Public Fin. Auth., Charter School Rev. Bonds (Foundation Academy Charter School Project), Series 2024, 5.00% <br> 7/1/2035 <sup>(a)</sup>  | 700 | 736 |
| Public Fin. Auth., Education Rev. Bonds (Bonnie Cone Classical Academy, Inc.), Series 2024, 5.00% 6/15/2034 <sup>(a)</sup>  | 2000 | 1874 |
| Public Fin. Auth., Education Rev. Bonds (Bonnie Cone Classical Academy, Inc.), Series 2024, 5.50% 6/15/2049 <sup>(a)</sup>  | 3045 | 2403 |
| Public Fin. Auth., Education Rev. Bonds (Mater Academy of Nevada - East Las Vegas Campus Project), Series 2024-A, <br> 5.00% 12/15/2034 <sup>(a)</sup>  | 1410 | 1467 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **104** |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Wisconsin (continued)** | **Wisconsin (continued)** | **Wisconsin (continued)** |
| Public Fin. Auth., Education Rev. Bonds (Mater Academy of Nevada - East Las Vegas Campus Project), Series 2024-A, <br> 5.00% 12/15/2039 <sup>(a)</sup>  | USD<br> 700<br>| $708 |
| Public Fin. Auth., Education Rev. Ref. Bonds (Pinecrest Academy of Nevada-Sloan Canyon Campus Project), Series <br> 2024-A, 4.00% 7/15/2039 <sup>(a)</sup>  | 750 | 709 |
| Public Fin. Auth., Educational Facs. Rev. Bonds (Cincinnati Classical Academy), Series 2024-A, 5.375% 6/15/2039 <sup>(a)</sup>  | 190 | 192 |
| Public Fin. Auth., Educational Facs. Rev. Bonds (Cincinnati Classical Academy), Series 2024-A, 5.70% 6/15/2044 <sup>(a)</sup>  | 140 | 140 |
| Public Fin. Auth., Educational Facs. Rev. Bonds (Cincinnati Classical Academy), Series 2024-A, 5.875% 6/15/2054 <sup>(a)</sup>  | 105 | 103 |
| Public Fin. Auth., Infrastructure Program Anticipation Improvement and Rev. Ref. Bonds (Astro Texas Land Projects), <br> Series 2025, 5.00% 12/15/2036 <sup>(a)</sup>  | 3040 | 3014 |
| Public Fin. Auth., Infrastructure Program Anticipation Improvement and Rev. Ref. Bonds (Legacy Hills Project), Series <br> 2025, 6.00% 11/15/2045 <sup>(a)</sup>  | 2000 | 1943 |
| Public Fin. Auth., Infrastructure Program Rev. Anticipation Bonds (Heritage Bend Project), CAB, Series 2025, 0% <br> 12/15/2042 <sup>(a)</sup>  | 4255 | 1309 |
| Public Fin. Auth., Infrastructure Program Rev. Anticipation Bonds (Mayfair Project), Series 2024-A-4, 5.50% <br>11/15/2032 <sup>(a)</sup>  | 4592 | 4602 |
| Public Fin. Auth., Infrastructure Program Rev. Anticipation Bonds (Sterling Traditions Project), CAB, Series 2025, 0% <br> 12/15/2041 <sup>(a)</sup>  | 21677 | 8038 |
| Public Fin. Auth., Infrastructure Program Rev. Anticipation Bonds (Two Step Project), CAB, Series 2024, 0% <br>12/15/2034 <sup>(a)</sup>  | 1725 | 1014 |
| Public Fin. Auth., Infrastructure Program Rev. Anticipation Bonds (Wayside Project), Series 2024-A-2, 5.875% <br> 11/15/2027 <sup>(a)</sup>  | 997 | 997 |
| Public Fin. Auth., Limited Obligation Rev. Bonds (Town of Scarborough - The Downs Project), Series 2024, 5.00% <br> 8/1/2039  | 200 | 204 |
| Public Fin. Auth., Project Rev. Bonds (CFP3 - Eastern Michigan University Student Housing Project), Series 2022-A-1, <br> BAM, 5.00% 7/1/2030  | 705 | 767 |
| Public Fin. Auth., Retirement Community Rev. Bonds (Lifespace Communities, Inc.), Series 2020-A, 4.00% 11/15/2037  | 600 | 603 |
| Public Fin. Auth., Retirement Community Rev. Bonds (Lifespace Communities, Inc.), Series 2020-A, 5.00% 11/15/2041  | 655 | 673 |
| Public Fin. Auth., Retirement Facs. Rev. Bonds (Givens Estates), Series 2021, 4.00% 12/1/2041  | 1000 | 941 |
| Public Fin. Auth., Rev. Bonds (Kahala Nui Project), Series 2025, 5.00% 11/15/2042  | 750 | 775 |
| Public Fin. Auth., Rev. Bonds (Kahala Nui Project), Series 2025, 5.00% 11/15/2043  | 1000 | 1024 |
| Public Fin. Auth., Rev. Bonds (Kahala Nui Project), Series 2025, 5.00% 11/15/2044  | 1310 | 1331 |
| Public Fin. Auth., Rev. Bonds (Puerto Rico Toll Roads Monetization Project), Series 2024, AMT, 5.50% 7/1/2044  | 7000 | 7271 |
| Public Fin. Auth., Rev. Bonds (Wilson Preparatory Academy), Series 2019-A, 5.00% 6/15/2039 <sup>(a)</sup>  | 250 | 245 |
| Public Fin. Auth., Rev. Ref. Bonds (Celanese Corp.), Series 2016-C, AMT, 4.30% 11/1/2030  | 3640 | 3640 |
| Public Fin. Auth., Rev. Ref. Bonds (Roseman University of Health Sciences Project), Series 2022, 4.00% 4/1/2032 <sup>(a)</sup>  | 405 | 400 |
| Public Fin. Auth., Special Fac. Rev. Bonds (Million Air Three LLC General Aviation Facs. Project), Series 2024-A, AMT, <br> 5.50% 9/1/2030 <sup>(a)(f)</sup>  | 480 | 503 |
| Public Fin. Auth., Special Rev. Bonds (Candela Project), Series 2023, 6.125% 12/15/2029 <sup>(a)</sup>  | 147 | 149 |
| Public Fin. Auth., Special Rev. Bonds (Signorelli Projects, Municipal Utility Dists., Montgomery and Waller Counties), <br> Series 2024, 5.375% 12/15/2032 <sup>(a)</sup>  | 839 | 839 |
| Public Fin. Auth., Student Housing Rev. Bonds (Beyond Boone, LLC - Appalachian State University Project), Series <br> 2020-A, AGI, 4.00% 7/1/2045  | 600 | 554 |
| Public Fin. Auth., Student Housing Rev. Bonds (Beyond Boone, LLC - Appalachian State University Project), Series <br> 2020-A, AGI, 4.00% 7/1/2050  | 1000 | 891 |
| Public Fin. Auth., Student Housing Rev. Bonds (CHF-Manoa, LLC UH Residences for Graduate Students), Series 2023-A, <br> 5.25% 7/1/2038 <sup>(a)</sup>  | 415 | 433 |
|  |  | 111332 |
| **Total bonds, notes & other debt instruments** (cost: $4,396,559,000) |  | 4464458 |
| Common stocks 0.00% | Shares |  |
| **Industrials 0.00%** | **Industrials 0.00%** | **Industrials 0.00%** |
| AM BidCo Holdings, LLC <sup>(g)(j)</sup>  | 28 | — <br><sup>(k)</sup><br>|
| **Total common stocks** (cost: $0) |  | — <br><sup>(k)</sup><br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **105** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Short-term securities 6.70% | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Municipals 6.70%** | **Municipals 6.70%** | **Municipals 6.70%** |
| State of Alaska, City of Valdez, Marine Terminal Rev. Ref. Bonds (ExxonMobil Project), Series 2001, 2.50% 12/1/2029 <sup>(b)</sup>  | USD<br> 1,150<br>| $1150 |
| State of Arizona, City of Phoenix, Industrial Dev. Auth., Health Care Facs. Rev. Bonds (Mayo Clinic), Series 2014-A, <br> 1.85% 11/15/2052 <sup>(b)</sup>  | 8100 | 8100 |
| State of Arizona, Industrial Dev. Auth., Hospital Rev. Ref. Bonds (Phoenix Children's Hospital), Series 2019-A, 2.45% <br> 2/1/2048 <sup>(b)</sup>  | 12105 | 12105 |
| State of Arizona, City of Phoenix, Industrial Dev. Auth., Solid Waste Disposal Rev. Ref. Bonds (Republic Services, Inc. <br> Project), Series 2013, AMT, 3.45% 12/1/2035 (put 2/2/2026) <sup>(l)</sup>  | 13815 | 13815 |
| State of California, Municipal Fin. Auth., Recovery Zone Fac. Bonds (Chevron USA, Inc. Project), Series 2010-A, 2.90% <br> 11/1/2035 <sup>(b)</sup>  | 1400 | 1400 |
| State of District of Columbia, Housing Fin. Agcy., Collateralized Multi Family Housing Rev. Bonds (Paxton Project), <br> Series 2022, 3.35% 9/1/2040 (put 6/1/2026) <sup>(l)</sup>  | 4280 | 4281 |
| State of Florida, City of Gainesville, Utilities System Rev. Bonds, Series 2019-C, 2.58% 10/1/2047 <sup>(b)</sup>  | 6045 | 6045 |
| State of Florida, Fin. Auth., Econ. Dev. Rev. Ref. Bonds (Republic Services, Inc. Project), Series 2010-A, AMT, 3.45% <br> 5/1/2028 (put 3/2/2026) <sup>(l)</sup>  | 2110 | 2110 |
| State of Hawaii, Dept. of Budget and Fin., Special Purpose Rev. Bonds (The Queen's Health Systems), Series 2025-B, <br> 2.30% 7/1/2060 <sup>(b)</sup>  | 9805 | 9805 |
| State of Hawaii, Dept. of Budget and Fin., Special Purpose Rev. Bonds (The Queen's Health Systems), Series 2025-C, <br> 2.10% 7/1/2051 <sup>(b)</sup>  | 8500 | 8500 |
| State of Illinois, Fin. Auth., Demand Rev. Bonds (University of Chicago Medical Center), Series 2010-A, 2.45% <br>8/1/2044 <sup>(b)</sup>  | 3200 | 3200 |
| State of Illinois, Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2019, AMT, 3.45% <br> 11/1/2044 (put 11/2/2026) <sup>(l)</sup>  | 1960 | 1962 |
| State of Maryland, County of Montgomery, GO Consolidated Public Improvement Bonds, Series 2017-E, 2.45% <br> 11/1/2037 <sup>(b)</sup>  | 36995 | 36995 |
| State of Michigan, Regents of the University of Michigan, General Rev. Bonds, Series 2012-B, 2.25% 4/1/2042 <sup>(b)</sup>  | 11160 | 11160 |
| State of Minnesota, City of Rochester, Health Care Facs. Rev. Bonds (Mayo Clinic), Series 2011-B, 2.35% 11/15/2038 <sup>(b)</sup>  | 12975 | 12975 |
| State of Minnesota, City of Rochester, Health Care Facs. Rev. Bonds (Mayo Clinic), Series 2016, 2.35% 11/15/2047 <sup>(b)</sup>  | 15200 | 15200 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron USA, Inc. Project), <br> Series 2007-C, 2.50% 12/1/2030 <sup>(b)</sup>  | 6785 | 6785 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron USA, Inc. Project), <br> Series 2010-J, 2.50% 11/1/2035 <sup>(b)</sup>  | 2200 | 2200 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron USA, Inc. Project), <br> Series 2010-L, 2.50% 11/1/2035 <sup>(b)</sup>  | 4240 | 4240 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron USA, Inc. Project), <br> Series 2011-D, 2.50% 11/1/2035 <sup>(b)</sup>  | 4000 | 4000 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron USA, Inc. Project), <br> Series 2011-F, 2.50% 11/1/2035 <sup>(b)</sup>  | 2610 | 2610 |
| State of Missouri, Health and Educational Facs. Auth., Demand Educational Facs. Rev. Bonds (Washington University), <br> Series 2003-B, 2.55% 2/15/2033 <sup>(b)</sup>  | 7900 | 7900 |
| State of New York, Dormitory Auth., Rev. Bonds (Fordham University), Series 2008-A-2, 3.32% 7/1/2032 <sup>(b)</sup>  | 5405 | 5405 |
| State of New York, New York City GO Bonds, Fiscal 2012, Series 2012-G-6, 2.85% 4/1/2042 <sup>(b)</sup>  | 3920 | 3920 |
| State of New York, New York City GO Bonds, Fiscal 2013, Series 2013-F-3, 2.50% 3/1/2042 <sup>(b)</sup>  | 16100 | 16100 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. <br> Bonds, Series 2016-AA-1, 2.50% 6/15/2048 <sup>(b)</sup>  | 12000 | 12000 |
| State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2019, Series 2019-B-4, 2.50% <br> 8/1/2042 <sup>(b)</sup>  | 5500 | 5500 |
| State of New York, Triborough Bridge and Tunnel Auth., General Rev. Bonds, Series 2001-C, 2.50% 1/1/2032 <sup>(b)</sup>  | 3020 | 3020 |
| State of New York, Triborough Bridge and Tunnel Auth., General Rev. Ref. Bonds, Series 2005-B-3, 2.50% 1/1/2035 <sup>(b)</sup>  | 36025 | 36025 |
| State of Ohio, Hospital Rev. Bonds (Cleveland Clinic Health System Obligated Group), Series 2013-B-3, 2.55% <br> 1/1/2039 <sup>(b)</sup>  | 595 | 595 |
| State of Pennsylvania, Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Republic Services, Inc. Project), Series <br> 2019-B-2, AMT, 3.85% 4/1/2049 (put 1/15/2026) <sup>(l)</sup>  | 640 | 640 |
| State of South Carolina, Jobs-Econ. Dev. Auth., Hospital Rev. Bonds (Prisma Health Obligated Group), Series 2018-B, <br> 2.45% 5/1/2048 <sup>(b)</sup>  | 15620 | 15620 |
| State of Tennessee, City of Clarksville, Public Building Auth., Pooled Fncg. Rev. Bonds, Series 2003, Bank of America <br> LOC, 2.58% 1/1/2033 <sup>(b)</sup>  | 1010 | 1010 |
| State of Tennessee, County of Montgomery, Public Building Auth., Pooled Fncg. Rev. Bonds (Tennessee County Loan <br> Pool), Series 2002, Bank of America LOC, 2.55% 4/1/2032 <sup>(b)</sup>  | 1100 | 1100 |
| State of Tennessee, Health and Educational Facs. Board of the Metropolitan Government of Nashville and Davidson <br> County, Multi Family Rev. Bonds (HV Land Co. Apartments), Series 2022, 3.35% 6/1/2044 (put 12/1/2026) <sup>(l)</sup>  | 3210 | 3211 |
| State of Texas, Capital Area Housing Fin. Corp., Multi Family Housing Rev. Bonds (Redwood Apartments), Series 2020, <br> 3.20% 1/1/2041 (put 1/1/2027) <sup>(l)</sup>  | 2000 | 2000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **106** |

---

------

Capital Group Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Short-term securities (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Municipals (continued)** | **Municipals (continued)** | **Municipals (continued)** |
| State of Texas, Lower Neches Valley Auth. Industrial Dev. Corp., Exempt Facs. Rev. Ref. Bonds (ExxonMobil Project), <br> Series 2002-A, 2.55% 11/1/2029 <sup>(b)</sup>  | USD<br> 9,205<br>| $9205 |
| State of Texas, Lower Neches Valley Auth. Industrial Dev. Corp., Rev. Bonds (ExxonMobil Project), Series 2010, 2.55% <br> 11/1/2038 <sup>(b)</sup>  | 5875 | 5875 |
| State of Virginia, County of Loudoun, Industrial Dev. Auth., Multi-Modal Rev. Bonds (Howard Hughes Medical Institute <br> Issue), Series 2003-C, 2.40% 2/15/2038 <sup>(b)</sup>  | 5000 | 5000 |
| State of Wyoming, County of Sublette, Pollution Control Rev. Ref. Bonds (ExxonMobil Project), Series 2014, 2.50% <br> 10/1/2044 <sup>(b)</sup>  | 18905 | 18905 |
|  |  | 321669 |
| **Total short-term securities** (cost: $321,665,000) |  | 321669 |
| **Total investment securities 99.65%** (cost: $4,718,224,000) |  | 4786127 |
| Other assets less liabilities 0.35% |  | 16624 |
| **Net assets 100.00%** |  | $4802751 |

---

**Futures contracts**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 2 Year U.S. Treasury Note Futures | Long | 1007 | 3/31/2026 | USD210,251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(91)<br>|
| 5 Year U.S. Treasury Note Futures | Long | 323 | 3/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134 |
| 10 Year U.S. Treasury Note Futures | Short | 200 | 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (22488)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (72)<br>|
| 10 Year Ultra U.S. Treasury Note Futures | Short | 457 | 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (52562)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $91 |

---

**Restricted security** <sup>(e)</sup>

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| County of Monroe, Lease Rental Rev. Bonds (Centurion Foundation Lehigh <br> Valley), Series 2024-A, 5.10% 6/15/2039 <br>| 6/14/2024 | $4890 | $4932 | 0.11<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) 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 $272,226,000, which represented 5.67% of the net assets of the fund. 

<sup>(b)</sup> 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. 

<sup>(c)</sup> Step bond; coupon rate may change at a later date.

<sup>(d)</sup> Scheduled interest payment was not received. Coupon payments are paid at the election of the issuer and any unpaid amounts are accumulated.

<sup>(e)</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933.

<sup>(f)</sup> Scheduled interest and/or principal payment was not received.

<sup>(g)</sup> Value determined using significant unobservable inputs.

<sup>(h)</sup> Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $510,000, which represented 0.01% of the net assets of the fund. 

<sup>(i)</sup> Payment in kind; the issuer has the option of paying additional securities in lieu of cash. Payment methods and rates are as of the most recent payment when available. 

<sup>(j)</sup> Non-income producing.

<sup>(k)</sup> Amount less than one thousand.

<sup>(l)</sup> For short-term securities, the mandatory put date is considered to be the maturity date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **107** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal Income ETF (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| Agcy. = Agency |
| AGI = Assured Guaranty insured |
| AMBAC = American Municipal Bond Assurance <br> Company insured<br>|
| AMT = Alternative Minimum Tax |
| Assn. = Association |
| Auth. = Authority |
| BAM = Build America Mutual insured |
| CAB = Capital Appreciation Bonds |
| Certs. = Certificates |
| CME = CME Group |

---

---

| |
|:---|
| Dept. = Department |
| Dev. = Development |
| Dist. = District |
| Dists. = Districts |
| Econ. = Economic |
| Fac. = Facility |
| Facs. = Facilities |
| Fin. = Finance |
| Fncg. = Financing |
| GO = General Obligation |
| LOC = Letter of Credit |

---

---

| |
|:---|
| NATL = National Public Finance Guarantee Corp. <br> insured<br>|
| Part. = Participation |
| preref. = Prerefunded |
| Redev. = Redevelopment |
| Ref. = Refunding |
| Rev. = Revenue |
| SOFR = Secured Overnight Financing Rate |
| USD = U.S. dollars |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **108** |

---

------

Capital Group Municipal High-Income ETF

**Investment portfolio** December 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments 96.04% | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Alabama 2.60%** | **Alabama 2.60%** | **Alabama 2.60%** |
| County of Baldwin, Industrial Dev. Auth., Solid Waste Disposal Rev. Bonds (Novelis Corp. Project), Series 2025-B, AMT, <br> 4.625% 6/1/2055 (put 6/1/2032) <sup>(a)</sup>  | USD<br> 3,865<br>| $3884 |
| County of Baldwin, Industrial Dev. Auth., Solid Waste Disposal Rev. Bonds (Novelis Corp. Project), Series 2025-A, AMT, <br> 5.00% 6/1/2055 (put 6/1/2032) <sup>(a)</sup>  | 4610 | 4703 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2025-B, 5.00% 10/1/2035  | 3145 | 3242 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2023-C, 5.50% 10/1/2054 (put 6/1/2032)  | 105 | 116 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2024-C, 5.00% 5/1/2055 (put 7/1/2031)  | 720 | 772 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2024-B, 5.00% 10/1/2055 (put 9/1/2032)  | 5630 | 6057 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2025-E, 5.00% 12/1/2055 (put 5/1/2035)  | 2300 | 2462 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2025-C, 5.50% 11/1/2056 (put 8/1/2034) <sup>(a)</sup>  | 500 | 530 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds (BP P.L.C), Series 2024-D, 5.00% 3/1/2055 (put 11/1/2034)  | 2545 | 2723 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds (Project No. 7), Series 2021-C-1, 4.00% 10/1/2052 (put 12/1/2026)  | 1860 | 1868 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds (Project No. 8), Series 2022-A, 4.00% 12/1/2052 (put 12/1/2029)  | 2485 | 2544 |
| Black Belt Energy Gas Dist., Gas Project Rev. Ref. Bonds, Series 2025-D, 5.00% 12/1/2055 (put 8/1/2035)  | 2125 | 2283 |
| Black Belt Energy Gas Dist., Gas Supply Prepay Rev. Bonds (Project No. 5), Series 2020-A-1, 4.00% 10/1/2049 (put <br> 10/1/2026)  | 35 | 35 |
| Black Belt Energy Gas Dist., Gas Supply Rev. Bonds, Series 2021-A, 4.00% 6/1/2051 (put 12/1/2031)  | 1125 | 1151 |
| Black Belt Energy Gas Dist., Gas Supply Rev. Bonds, Series 2023-B, 5.25% 12/1/2053 (put 12/1/2026)  | 130 | 140 |
| Energy Southeast, Energy Supply Rev. Bonds (A Cooperative Dist.), Series 2025-A, 5.00% 11/1/2035  | 850 | 901 |
| Energy Southeast, Energy Supply Rev. Bonds (A Cooperative Dist.), Series 2023-A-1, 5.50% 11/1/2053 (put 1/1/2031)  | 1530 | 1672 |
| Energy Southeast, Energy Supply Rev. Bonds (A Cooperative Dist.), Series 2023-B-1, 5.75% 4/1/2054 (put 11/1/2031)  | 410 | 454 |
| Energy Southeast, Energy Supply Rev. Bonds (A Cooperative Dist.), Series 2024-B, 5.25% 7/1/2054 (put 6/1/2032)  | 2875 | 3130 |
| City of Homewood, Educational Building Auth., Rev. Bonds (CHF - Horizons II, LLC, Student Housing & Parking Project <br> at Samford University), Series 2024-C, 5.50% 10/1/2049  | 500 | 507 |
| City of Homewood, Educational Building Auth., Rev. Bonds (CHF - Horizons II, LLC, Student Housing & Parking Project <br> at Samford University), Series 2024-C, 5.50% 10/1/2054  | 275 | 278 |
| City of Homewood, Educational Building Auth., Rev. Bonds (CHF - Horizons II, LLC, Student Housing & Parking Project <br> at Samford University), Series 2024-C, 5.00% 10/1/2056  | 135 | 128 |
| City of Hoover, Industrial Dev. Board, Environmental Improvement Rev. Bonds (U.S. Steel Corp. Project), Series 2019, <br> AMT, 5.75% 10/1/2049  | 890 | 897 |
| City of Hoover, Industrial Dev. Board, Environmental Improvement Rev. Bonds (U.S. Steel Corp. Project), Series 2020, <br> AMT, 6.375% 11/1/2050 (put 11/1/2030)  | 210 | 231 |
| County of Houston, Health Care Auth., Hospital Rev. Bonds, Series 2016-A, 5.00% 10/1/2030  | 540 | 541 |
| County of Jefferson, Sewer Rev. Warrants, Series 2024, 5.25% 10/1/2040  | 250 | 274 |
| County of Jefferson, Sewer Rev. Warrants, Series 2024, 5.25% 10/1/2041  | 70 | 76 |
| County of Jefferson, Sewer Rev. Warrants, Series 2024, 5.25% 10/1/2043  | 115 | 123 |
| County of Jefferson, Sewer Rev. Warrants, Series 2024, 5.25% 10/1/2049  | 710 | 734 |
| County of Jefferson, Sewer Rev. Warrants, Series 2024, 5.50% 10/1/2053  | 630 | 659 |
| County of Mobile Industrial Dev. Auth., Solid Waste Disposal Rev. Bonds (AM/NS Calvert, LLC Project), Series 2024-A, <br> AMT, 5.00% 6/1/2054  | 920 | 880 |
| County of Mobile Industrial Dev. Auth., Solid Waste Disposal Rev. Bonds (AM/NS Calvert, LLC Project), Series 2024-B, <br> AMT, 4.75% 12/1/2054  | 6115 | 5620 |
| City of Phenix, Industrial Dev. Board, Environmental Improvement Rev. Ref. Bonds (MeadWestvaco-Mead Coated <br> Board Project), Series 2012-A, AMT, 4.125% 5/15/2035  | 2380 | 2352 |
| Public Educational Building Auth. of Jacksonville, Higher Educational Facs. Rev. Bonds (JSU Foundation Project), Series <br> 2024-A, BAM, 5.00% 8/1/2056  | 605 | 611 |
| City of Selma, Industrial Dev. Board, Gulf Opportunity Zone Rev. Ref. Bonds (International Paper Co. Project), Series <br> 2020-A, 4.20% 5/1/2034  | 710 | 738 |
| South East Gas Supply Dist., Gas Supply Rev. Ref. Bonds (Project No. 2), Series 2024-B, 5.00% 6/1/2049 (put 5/1/2032)  | 3085 | 3312 |
| Southeast Energy Auth., Commodity Supply Rev. Bonds (Project No. 1), Series 2021-A, 4.00% 11/1/2051 (put <br> 10/1/2028)  | 345 | 349 |
| Southeast Energy Auth., Commodity Supply Rev. Bonds (Project No. 2), Series 2021-B-1, 4.00% 12/1/2051 (put <br> 12/1/2031)  | 1510 | 1526 |
| Southeast Energy Auth., Commodity Supply Rev. Bonds (Project No. 3), Series 2022-A-1, 5.50% 1/1/2053 (put <br> 12/1/2029)  | 220 | 236 |
| Southeast Energy Auth., Cooperative Dist. Energy Supply Rev. Bonds, Series 2024-A, 5.00% 11/1/2035  | 1220 | 1296 |
| Southeast Energy Auth., Cooperative Dist. Energy Supply Rev. Bonds, Series 2025-B, 5.25% 3/1/2055 (put 1/1/2033)  | 885 | 934 |
| Southeast Energy Auth., Cooperative Dist. Energy Supply Rev. Bonds, Series 2024-C, 5.00% 11/1/2055 (put <br> 11/1/2032)  | 1675 | 1811 |
| Southeast Energy Auth., Cooperative Dist. Energy Supply Rev. Bonds, Series 2025-A, 5.00% 1/1/2056 (put 6/1/2035)  | 1825 | 1903 |
|  |  | 64683 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **109** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Alaska 0.09%** | **Alaska 0.09%** | **Alaska 0.09%** |
| Housing Fin. Corp., General Mortgage Rev. Bonds, Series 2016-A, 2.15% 6/1/2026  | USD<br> 50<br>| $50 |
| Housing Fin. Corp., General Mortgage Rev. Bonds, Series 2024-A, 6.00% 6/1/2054  | 70 | 76 |
| Industrial Dev. and Export Auth., Power Rev. Ref. Bonds, Series 2015, AMT, 5.00% 1/1/2033  | 220 | 220 |
| Industrial Dev. and Export Auth., Power Rev. Ref. Bonds, Series 2015, AMT, 5.00% 1/1/2034  | 220 | 220 |
| Industrial Dev. and Export Auth., Power Rev. Ref. Bonds (Snettisham Hydroelectric Project), Series 2015, AMT, 5.00% <br> 1/1/2029  | 220 | 220 |
| Industrial Dev. and Export Auth., Power Rev. Ref. Bonds (Snettisham Hydroelectric Project), Series 2015, AMT, 5.00% <br> 1/1/2030  | 1400 | 1401 |
| Industrial Dev. and Export Auth., Power Rev. Ref. Bonds (Snettisham Hydroelectric Project), Series 2015, AMT, 5.00% <br> 1/1/2031  | 165 | 165 |
|  |  | 2352 |
| **American Samoa 0.08%** | **American Samoa 0.08%** | **American Samoa 0.08%** |
| Econ. Dev. Auth., General Rev. Bonds, Series 2021-A, 5.00% 9/1/2038 <sup>(a)</sup>  | 160 | 164 |
| Econ. Dev. Auth., General Rev. Bonds, Series 2025-B, 5.25% 9/1/2045 <sup>(a)</sup>  | 555 | 556 |
| Econ. Dev. Auth., Rev. Ref. Bonds, Series 2015-A, 7.125% 9/1/2038 <sup>(a)</sup>  | 1180 | 1258 |
|  |  | 1978 |
| **Arizona 2.88%** | **Arizona 2.88%** | **Arizona 2.88%** |
| City of Chandler, Industrial Dev. Auth., Industrial Dev. Rev. Bonds (Intel Corp. Project), Series 2022-1, AMT, 5.00% <br> 9/1/2042 (put 9/1/2027)  | 100 | 102 |
| City of Chandler, Industrial Dev. Auth., Industrial Dev. Rev. Bonds (Intel Corp. Project), Series 2022-2, AMT, 5.00% <br> 9/1/2052 (put 9/1/2027)  | 1555 | 1585 |
| Coconino County Pollution Control Corp., Pollution Control Rev. Ref. Bonds (Nevada Power Company Projects), Series <br> 2017-A, AMT, 4.125% 9/1/2032 (put 3/31/2026)  | 110 | 110 |
| City of Glendale, Industrial Dev. Auth., Graduate and Professional Student Loan Program Rev. Bonds (Midwestern <br> University Foundation), Series 2021-A, AMT, 2.125% 7/1/2033  | 50 | 43 |
| City of Glendale, Industrial Dev. Auth., Rev. and Rev. Ref. Bonds (Glencroft Retirement Community Project), Series <br> 2016, 4.25% 11/15/2026  | 10 | 10 |
| City of Glendale, Industrial Dev. Auth., Rev. and Rev. Ref. Bonds (Glencroft Retirement Community Project), Series <br> 2016, 5.00% 11/15/2036  | 320 | 308 |
| City of Glendale, Industrial Dev. Auth., Rev. and Rev. Ref. Bonds (Glencroft Retirement Community Project), Series <br> 2016, 5.25% 11/15/2046  | 170 | 151 |
| City of Glendale, Industrial Dev. Auth., Rev. Ref. Bonds (The Terraces of Phoenix Project), Series 2018-A, 4.00% <br> 7/1/2028  | 30 | 30 |
| City of Glendale, Industrial Dev. Auth., Rev. Ref. Bonds (The Terraces of Phoenix Project), Series 2018-A, 5.00% <br> 7/1/2033  | 120 | 121 |
| City of Glendale, Industrial Dev. Auth., Rev. Ref. Bonds (The Terraces of Phoenix Project), Series 2018-A, 5.00% <br> 7/1/2048  | 880 | 806 |
| City of Glendale, Industrial Dev. Auth., Senior Living Rev. Bonds (Royal Oaks - Insirata Pointe), Series 2020-A, 5.00% <br> 5/15/2056  | 875 | 747 |
| City of Glendale, Industrial Dev. Auth., Senior Living Rev. Bonds (Royal Oaks Life Care Community), Series 2016, 4.00% <br> 5/15/2026  | 75 | 75 |
| City of Glendale, Industrial Dev. Auth., Senior Living Rev. Bonds (Royal Oaks Life Care Community), Series 2016, 5.00% <br> 5/15/2039  | 515 | 509 |
| Health Facs. Auth., Rev. Bonds (Banner Health), Series 2007-B, (3-month USD CME Term SOFR x 0.67 + 0.81%) 4.08% <br> 1/1/2037 <sup>(b)</sup>  | 1020 | 1009 |
| Industrial Dev. Auth., Charter School Social Rev. Bonds (Equitable School Revolving Fund), Series 2020, 4.00% <br> 11/1/2037  | 125 | 124 |
| Industrial Dev. Auth., Charter School Social Rev. Bonds (Equitable School Revolving Fund), Series 2020, 4.00% <br> 11/1/2038  | 65 | 64 |
| Industrial Dev. Auth., Charter School Social Rev. Bonds (Equitable School Revolving Fund), Series 2020, 4.00% <br> 11/1/2039  | 80 | 78 |
| Industrial Dev. Auth., Charter School Social Rev. Bonds (Equitable School Revolving Fund), Series 2020, 4.00% <br> 11/1/2040  | 85 | 81 |
| Industrial Dev. Auth., Charter School Social Rev. Bonds (Equitable School Revolving Fund), Series 2020, 4.00% <br> 11/1/2045  | 500 | 447 |
| Industrial Dev. Auth., Charter School Social Rev. Bonds (Equitable School Revolving Fund), Series 2020, 4.00% <br> 11/1/2050  | 615 | 525 |
| Industrial Dev. Auth., Education Fac. Rev. Bonds (KIPP NYC Public Charter Schools - Jerome Fac. Project), Series <br> 2021-B, 4.00% 7/1/2051  | 195 | 161 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **110** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Arizona (continued)** | **Arizona (continued)** | **Arizona (continued)** |
| Industrial Dev. Auth., Education Fac. Rev. Bonds (KIPP NYC Public Charter Schools - Jerome Fac. Project), Series <br> 2021-B, 4.00% 7/1/2061  | USD<br> 570<br>| $453 |
| Industrial Dev. Auth., Education Fac. Rev. Bonds (KIPP NYC Public Charter Schools - Macombs Fac. Project), Series <br> 2021-A, 4.00% 7/1/2041  | 395 | 364 |
| Industrial Dev. Auth., Education Fac. Rev. Bonds (KIPP NYC Public Charter Schools - Macombs Fac. Project), Series <br> 2021-A, 4.00% 7/1/2051  | 730 | 605 |
| Industrial Dev. Auth., Education Fac. Rev. Bonds (KIPP NYC Public Charter Schools - Macombs Fac. Project), Series <br> 2021-A, 4.00% 7/1/2061  | 690 | 548 |
| Industrial Dev. Auth., Education Facs. Rev. Bonds (Leman Academy of Excellence - East Tucson and Central Tucson <br> Projects), Series 2019-A, 5.00% 7/1/2039 <sup>(a)</sup>  | 490 | 490 |
| Industrial Dev. Auth., Education Facs. Rev. Bonds (Leman Academy of Excellence - East Tucson and Central Tucson <br> Projects), Series 2019-A, 5.00% 7/1/2049 <sup>(a)</sup>  | 880 | 798 |
| Industrial Dev. Auth., Education Facs. Rev. Bonds (Leman Academy of Excellence - East Tucson and Central Tucson <br> Projects), Series 2019-A, 5.00% 7/1/2054 <sup>(a)</sup>  | 690 | 612 |
| Industrial Dev. Auth., Education Facs. Rev. Bonds (Leman Academy of Excellence Projects), Series 2022-A, 4.00% <br> 7/1/2042  | 1885 | 1629 |
| Industrial Dev. Auth., Education Facs. Rev. Bonds (Leman Academy of Excellence Projects), Series 2022-B, 4.25% <br> 7/1/2042  | 325 | 290 |
| Industrial Dev. Auth., Education Facs. Rev. Bonds (Leman Academy of Excellence Projects), Series 2022-B, 4.50% <br> 7/1/2052  | 600 | 505 |
| Industrial Dev. Auth., Education Facs. Rev. Bonds (Leman Academy of Excellence Projects), Series 2022-A, 4.50% <br> 7/1/2054  | 500 | 417 |
| Industrial Dev. Auth., Education Facs. Rev. Bonds (Leman Academy of Excellence Projects), Series 2022-B, 4.50% <br> 7/1/2057  | 315 | 260 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2018-B, 5.50% 7/1/2038 <sup>(a)</sup>  | 260 | 262 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2019, 5.00% 7/1/2039 <sup>(a)</sup>  | 225 | 226 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2017-B, 5.125% <br>7/1/2047 <sup>(a)</sup>  | 270 | 253 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2018-A, 5.00% 7/1/2048  | 250 | 246 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2018-B, 5.625% <br>7/1/2048 <sup>(a)</sup>  | 280 | 278 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2019, 5.00% 7/1/2049 <sup>(a)</sup>  | 340 | 311 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2017-A, 5.00% 7/1/2051  | 1000 | 971 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2017-B, 5.25% 7/1/2051 <sup>(a)</sup>  | 70 | 66 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2018-B, 5.75% 7/1/2053 <sup>(a)</sup>  | 415 | 415 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2019, 5.00% 7/1/2054 <sup>(a)</sup>  | 225 | 202 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2025-A, 4.875% 7/1/2060 <br> (put 7/1/2035) <sup>(a)</sup>  | 135 | 135 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-G, 4.00% 7/1/2027 <sup>(a)</sup>  | 110 | 110 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-D, 5.00% 7/1/2037 <sup>(a)</sup>  | 175 | 176 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-G, 5.00% 7/1/2037 <sup>(a)</sup>  | 70 | 70 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-A, 5.125% 7/1/2037 <sup>(a)</sup>  | 170 | 170 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-D, 5.00% 7/1/2047 <sup>(a)</sup>  | 250 | 237 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-G, 5.00% 7/1/2047 <sup>(a)</sup>  | 375 | 356 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-A, 5.25% 7/1/2047 <sup>(a)</sup>  | 375 | 367 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-A, 5.375% 7/1/2050 <sup>(a)</sup>  | 3525 | 3485 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-D, 5.00% 7/1/2051 <sup>(a)</sup>  | 545 | 509 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-G, 5.00% 7/1/2051 <sup>(a)</sup>  | 170 | 159 |
| Industrial Dev. Auth., Education Rev. Bonds (Doral Academy of Nevada - Fire Mesa and Red Rock Campus Projects), <br> Series 2019-A, 3.55% 7/15/2029  | 60 | 59 |
| Industrial Dev. Auth., Education Rev. Bonds (Doral Academy of Nevada - Fire Mesa and Red Rock Campus Projects), <br> Series 2019-A, 5.00% 7/15/2039  | 585 | 587 |
| Industrial Dev. Auth., Education Rev. Bonds (Doral Academy of Nevada - Fire Mesa and Red Rock Campus Projects), <br> Series 2019-A, 5.00% 7/15/2049  | 1015 | 929 |
| Industrial Dev. Auth., Education Rev. Bonds (Doral Academy of Nevada - Pebble Campus Projects), Series 2020-A, <br> 5.00% 7/15/2050 <sup>(a)</sup>  | 250 | 227 |
| Industrial Dev. Auth., Education Rev. Bonds (KIPP Nashville Projects), Series 2022-A, 5.00% 7/1/2057  | 250 | 245 |
| Industrial Dev. Auth., Education Rev. Bonds (Pinecrest Academy of Nevada - Cadence Campus Project), Series 2020-A, <br> 4.00% 7/15/2040 <sup>(a)</sup>  | 205 | 191 |
| Industrial Dev. Auth., Education Rev. Bonds (Pinecrest Academy of Nevada - Cadence Campus Project), Series 2020-A, <br> 4.00% 7/15/2050 <sup>(a)</sup>  | 285 | 230 |
| Industrial Dev. Auth., Education Rev. Bonds (Pinecrest Academy of Nevada - Horizon, Inspirada and St. Rose Campus <br> Projects), Series 2018-A, 5.75% 7/15/2038 <sup>(a)</sup>  | 230 | 231 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **111** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Arizona (continued)** | **Arizona (continued)** | **Arizona (continued)** |
| Industrial Dev. Auth., Education Rev. Bonds (Pinecrest Academy of Nevada - Horizon, Inspirada and St. Rose Campus <br> Projects), Series 2018-A, 5.75% 7/15/2048 <sup>(a)</sup>  | USD<br> 855<br>| $855 |
| Industrial Dev. Auth., Education Rev. Bonds (Pinecrest Academy of Nevada - Sloan Canyon Campus Project), Series <br> 2020-A-1, 5.00% 7/15/2040 <sup>(a)</sup>  | 250 | 253 |
| Industrial Dev. Auth., Education Rev. Bonds (Pinecrest Academy of Northern Nevada Project), Series 2022-A, 4.50% <br> 7/15/2029 <sup>(a)</sup>  | 590 | 574 |
| Industrial Dev. Auth., Education Rev. Bonds (Somerset Academy of Las Vegas - Aliante and Skye Canyon Campus <br> Projects), Series 2021-A, 3.00% 12/15/2031 <sup>(a)</sup>  | 75 | 71 |
| Industrial Dev. Auth., Education Rev. Bonds (Somerset Academy of Las Vegas - Aliante and Skye Canyon Campus <br> Projects), Series 2021-A, 4.00% 12/15/2051 <sup>(a)</sup>  | 260 | 202 |
| Industrial Dev. Auth., Education Rev. Bonds (Somerset Academy of Las Vegas - Lone Mountain Campus Projects), <br> Series 2019-A, 3.75% 12/15/2029 <sup>(a)</sup>  | 40 | 40 |
| Industrial Dev. Auth., Education Rev. Bonds (Somerset Academy of Las Vegas - Lone Mountain Campus Projects), <br> Series 2019-A, 5.00% 12/15/2039 <sup>(a)</sup>  | 55 | 55 |
| Industrial Dev. Auth., Education Rev. Bonds (Somerset Academy of Las Vegas - Lone Mountain Campus Projects), <br> Series 2019-A, 5.00% 12/15/2049 <sup>(a)</sup>  | 95 | 88 |
| Industrial Dev. Auth., Multi Family Housing Rev. Bonds (The Acacia At Youngtown Phase II Project), Series 2024, 5.00% <br> 11/1/2058 (put 7/1/2027)  | 1061 | 1082 |
| Industrial Dev. Auth., Municipal Certs., Series 2019-2, Class X, interest only, 0.91% 5/20/2033 <sup>(b)(c)</sup>  | 987 | 33 |
| Industrial Dev. Auth., Municipal Certs., Series 2019-2, Class A, 3.625% 5/20/2033  | 3973 | 3941 |
| County of La Paz, Industrial Dev. Auth, Education Fac. Lease Rev. Bonds (Charter School Solutions Albuquerque School <br> of Excellence Project), Series 2016-A, 5.00% 2/15/2046 <sup>(a)</sup>  | 605 | 563 |
| County of La Paz, Industrial Dev. Auth, Education Fac. Lease Rev. Bonds (Harmony Education Foundation-Harmony <br> Public Schools Project), Series 2021-A, 4.00% 2/15/2041  | 205 | 188 |
| County of Maricopa, Industrial Dev. Auth., Charter School Rev. Bonds (Paradis Schools Projects), Series 2025, 5.625% <br> 7/1/2045 <sup>(a)</sup>  | 65 | 65 |
| County of Maricopa, Industrial Dev. Auth., Charter School Rev. Bonds (Paradis Schools Projects), Series 2025, 5.875% <br> 7/1/2060 <sup>(a)</sup>  | 135 | 135 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Benjamin Franklin Charter School Projects), Series <br> 2018-A, 6.00% 7/1/2038 <sup>(a)</sup>  | 220 | 226 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Benjamin Franklin Charter School Projects), Series <br> 2018-A, 6.00% 7/1/2052 <sup>(a)</sup>  | 400 | 402 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2021-B, <br> 2.10% 7/1/2026 <sup>(a)</sup>  | 35 | 34 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2021-B, <br> 2.625% 7/1/2031 <sup>(a)</sup>  | 390 | 362 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2019-B, <br> 5.00% 7/1/2039 <sup>(a)</sup>  | 395 | 402 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2021-A, <br> 4.00% 7/1/2041 <sup>(a)</sup>  | 110 | 100 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2021-B, <br> 3.50% 7/1/2044 <sup>(a)</sup>  | 1265 | 999 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2020, <br> 5.25% 7/1/2045  | 340 | 344 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2019-A, <br> 5.00% 7/1/2049  | 100 | 99 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2019-B, <br> 5.00% 7/1/2049 <sup>(a)</sup>  | 550 | 526 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2021-A, <br> 4.00% 7/1/2051 <sup>(a)</sup>  | 285 | 231 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2019-B, <br> 5.00% 7/1/2054 <sup>(a)</sup>  | 555 | 524 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2021-A, <br> 4.00% 7/1/2056 <sup>(a)</sup>  | 160 | 127 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2025-A, <br> 5.50% 7/1/2060  | 210 | 210 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Paradise Schools Projects), Series 2016, 5.00% <br> 7/1/2036 <sup>(a)</sup>  | 475 | 476 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Paradise Schools Projects), Series 2016, 5.00% <br> 7/1/2047 <sup>(a)</sup>  | 1445 | 1324 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Ref. Bonds (Legacy Traditional Schools Projects), Series 2024, <br> 4.00% 7/1/2039  | 250 | 237 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **112** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Arizona (continued)** | **Arizona (continued)** | **Arizona (continued)** |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Ref. Bonds (Legacy Traditional Schools Projects), Series 2024, <br> 4.25% 7/1/2044  | USD<br> 200<br>| $179 |
| County of Maricopa, Industrial Dev. Auth., Facs. Rev. Bonds (Commercial Metals Co. Project), Series 2022, AMT, 4.00% <br> 10/15/2047 <sup>(a)</sup>  | 3915 | 3319 |
| County of Maricopa, Industrial Dev. Auth., Rev. Bonds (Banner Health), Series 2019-E, 3.00% 1/1/2049  | 465 | 347 |
| County of Maricopa, Industrial Dev. Auth., Rev. Bonds (Banner Health), Series 2019-F, 3.00% 1/1/2049  | 100 | 75 |
| County of Maricopa, Industrial Dev. Auth., Rev. Bonds (Verrado Marketplace Project), Series 2025, 4.375% 5/1/2033 <sup>(a)</sup>  | 1300 | 1280 |
| County of Maricopa, Pollution Control Rev. Ref. Bonds (El Paso Electric Co. Palo Verde Project), Series 2009-A, 3.60% <br> 2/1/2040  | 320 | 300 |
| Maricopa County Pollution Control Corp., Pollution Control Rev. Ref. Bonds (Palo Verde Project), Series 2009-B, 3.60% <br> 4/1/2040  | 290 | 272 |
| Maricopa County Pollution Control Corp., Pollution Control Rev. Ref. Bonds (Southern California Edison Co.), Series <br> 2000-A, 2.40% 6/1/2035  | 435 | 372 |
| Maricopa County Pollution Control Corp., Pollution Control Rev. Ref. Bonds (Southern California Edison Co.), Series <br> 2000-B, 2.40% 6/1/2035  | 450 | 385 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Basis Schools, Inc. Project), Series 2015, 5.00% <br> 7/1/2035 <sup>(a)</sup>  | 765 | 765 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Basis Schools, Inc. Project), Series 2016-A, 5.00% <br> 7/1/2035 <sup>(a)</sup>  | 165 | 165 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Basis Schools, Inc. Project), Series 2015, 5.00% <br> 7/1/2045 <sup>(a)</sup>  | 440 | 426 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Basis Schools, Inc. Project), Series 2016-A, 5.00% <br> 7/1/2046 <sup>(a)</sup>  | 805 | 770 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Legacy Traditional Schools Projects), Series 2016-A, <br> 4.00% 7/1/2026 <sup>(a)</sup>  | 70 | 70 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Legacy Traditional Schools Projects), Series 2015, <br> 5.00% 7/1/2035 <sup>(a)</sup>  | 460 | 460 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Legacy Traditional Schools Projects), Series 2016-A, <br> 5.00% 7/1/2041 <sup>(a)</sup>  | 3690 | 3691 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Legacy Traditional Schools Projects), Series 2015, <br> 5.00% 7/1/2045 <sup>(a)</sup>  | 1370 | 1328 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Legacy Traditional Schools Projects), Series 2016-A, <br> 5.00% 7/1/2046 <sup>(a)</sup>  | 525 | 503 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy Project), Series 2019, <br> 5.00% 6/15/2034 <sup>(a)</sup>  | 70 | 70 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy Project), Series 2021, <br> 4.00% 6/15/2041 <sup>(a)</sup>  | 950 | 835 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy Project), Series 2021, <br> 4.00% 6/15/2041 <sup>(a)</sup>  | 80 | 70 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy Project), Series 2021, <br> 4.00% 6/15/2051 <sup>(a)</sup>  | 260 | 201 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy Project), Series 2021, <br> 4.00% 6/15/2057 <sup>(a)</sup>  | 85 | 64 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy), Series 2019, 5.00% <br> 6/15/2039 <sup>(a)</sup>  | 70 | 70 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy), Series 2019, 5.00% <br> 6/15/2049 <sup>(a)</sup>  | 140 | 128 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy), Series 2019, 5.00% <br> 6/15/2052 <sup>(a)</sup>  | 240 | 215 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (Imagine East Mesa Charter Schools Project), Series <br> 2019, 5.00% 7/1/2034 <sup>(a)</sup>  | 50 | 50 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (Imagine East Mesa Charter Schools Project), Series <br> 2019, 5.00% 7/1/2039 <sup>(a)</sup>  | 60 | 60 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (Imagine East Mesa Charter Schools Project), Series <br> 2019, 5.00% 7/1/2049 <sup>(a)</sup>  | 165 | 151 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Ref. Bonds (American Leadership Academy Project), Series <br> 2022, 4.00% 6/15/2051 <sup>(a)</sup>  | 510 | 396 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Ref. Bonds (American Leadership Academy Project), Series <br> 2022, 4.00% 6/15/2057 <sup>(a)</sup>  | 710 | 535 |
| County of Pima, Industrial Dev. Auth., Senior Living Rev. Bonds (La Posada at Pusch Ridge Project), Series 2022-A, <br> 6.75% 11/15/2042 <sup>(a)</sup>  | 335 | 364 |
| County of Pima, Industrial Dev. Auth., Senior Living Rev. Bonds (La Posada at Pusch Ridge Project), Series 2022-A, <br> 6.875% 11/15/2052 <sup>(a)</sup>  | 950 | 1017 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **113** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Arizona (continued)** | **Arizona (continued)** | **Arizona (continued)** |
| County of Pima, Industrial Dev. Auth., Senior Living Rev. Bonds (La Posada at Pusch Ridge Project), Series 2022-A, <br> 7.00% 11/15/2057 <sup>(a)</sup>  | USD<br> 700<br>| $751 |
| County of Pinal, Industrial Dev. Auth., Environmental Facs. Rev. Green Bonds (WOF SW GGP 1, LLC Project), Series <br> 2021-B, AMT, 5.50% 10/1/2033 <sup>(d)</sup>  | 1761 | 1854 |
| County of Pinal, Industrial Dev. Auth., Environmental Facs. Rev. Green Bonds (WOF SW GGP 1, LLC Project), CAB, <br> Series 2021-B, AMT, 5.50% 10/1/2033 <sup>(a)(d)</sup>  | 1549 | 1631 |
| City of Sierra Vista, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy Project), Series <br> 2024, 5.00% 6/15/2044 <sup>(a)</sup>  | 245 | 233 |
| City of Sierra Vista, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy Project), Series <br> 2024, 5.00% 6/15/2054 <sup>(a)</sup>  | 490 | 441 |
| City of Sierra Vista, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy Project), Series <br> 2023, 5.75% 6/15/2058 <sup>(a)</sup>  | 1215 | 1214 |
| City of Sierra Vista, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy Project), Series <br> 2024, 5.00% 6/15/2059 <sup>(a)</sup>  | 475 | 421 |
| City of Sierra Vista, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy Project), Series <br> 2024, 5.00% 6/15/2064 <sup>(a)</sup>  | 700 | 612 |
| City of Tempe, Industrial Dev. Auth., Rev. and Rev. Ref. Bonds (Friendship Village of Tempe Project), Series 2021-A, <br> 4.00% 12/1/2038  | 795 | 754 |
| City of Tempe, Industrial Dev. Auth., Rev. and Rev. Ref. Bonds (Friendship Village of Tempe Project), Series 2021-A, <br> 4.00% 12/1/2046  | 610 | 507 |
| City of Tempe, Industrial Dev. Auth., Rev. and Rev. Ref. Bonds (Friendship Village of Tempe Project), Series 2025-A, <br> 5.625% 12/1/2060  | 3120 | 3119 |
| County of Yavapai, Industrial Dev. Auth., Hospital Rev. Bonds (Yavapai Regional Medical Center), Series 2019, 4.00% <br> 8/1/2043  | 105 | 99 |
| County of Yavapai, Industrial Dev. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series <br> 2002, AMT, 1.30% 6/1/2027  | 490 | 472 |
|  |  | 71569 |
| **Arkansas 0.74%** | **Arkansas 0.74%** | **Arkansas 0.74%** |
| Dev. Fin. Auth., Environmental Improvement Rev. Bonds (United States Steel Corp. Project), Series 2022, AMT, 5.45% <br> 9/1/2052  | 1055 | 1056 |
| Dev. Fin. Auth., Environmental Improvement Rev. Green Bonds (United States Steel Corp. Project), Series 2023, AMT, <br> 5.70% 5/1/2053  | 320 | 325 |
| Dev. Fin. Auth., Industrial Dev. Rev. Bonds (Big River Steel Project), Series 2019, AMT, 4.50% 9/1/2049 <sup>(a)</sup>  | 9005 | 8755 |
| Dev. Fin. Auth., Industrial Dev. Rev. Green Bonds (Big River Steel Project), Series 2020, AMT, 4.75% 9/1/2049 <sup>(a)</sup>  | 6645 | 6510 |
| Dev. Fin. Auth., Resource Recovery Rev. Bonds (Weyerhaeuser Co. Project), Series 2025, AMT, 3.875% 10/15/2067 (put <br> 10/15/2032)  | 1650 | 1653 |
|  |  | 18299 |
| **California 9.13%** | **California 9.13%** | **California 9.13%** |
| Alameda Corridor Transportation Auth., Rev. Ref. Bonds, CAB, Series 2022-A, 0% 10/1/2049 (5.375% on 10/1/2037) <sup>(d)</sup>  | 65 | 37 |
| Alameda Corridor Transportation Auth., Rev. Ref. Bonds, CAB, Series 2022-C-2, 0% 10/1/2050 (5.40% on <br>10/1/2037) <sup>(d)</sup>  | 205 | 116 |
| Alameda Corridor Transportation Auth., Rev. Ref. Bonds, Convertible CAB, Series 2022-C-2, AGI, 0% 10/1/2052 (5.45% <br> on 10/1/2037) <sup>(d)</sup>  | 245 | 139 |
| City of Alameda, Community Facs. Dist. No. 2013-1 (Alameda Landing Public Improvements), Special Tax Bonds, <br> Series 2016, 5.00% 9/1/2031  | 20 | 20 |
| City of Alameda, Community Facs. Dist. No. 2013-1 (Alameda Landing Public Improvements), Special Tax Bonds, <br> Series 2016, 5.00% 9/1/2032  | 20 | 20 |
| City of Alameda, Community Facs. Dist. No. 2013-1 (Alameda Landing Public Improvements), Special Tax Bonds, <br> Series 2016, 5.00% 9/1/2033  | 45 | 45 |
| Trustees of the California State University, Systemwide Rev. Bonds, Series 2025-A, 5.25% 11/1/2056  | 550 | 595 |
| Central Valley Energy Auth., Commodity Supply Rev. Bonds, Series 2025, 5.00% 12/1/2055 (put 8/1/2035)  | 1305 | 1423 |
| Chino Valley Unified School Dist., GO Bonds, CAB, 2016 Election, Series 2022-C, 0% 8/1/2035  | 75 | 53 |
| Chino Valley Unified School Dist., GO Bonds, CAB, 2016 Election, Series 2022-C, 0% 8/1/2036  | 85 | 57 |
| CMFA Special Fin. Agcy., Essential Housing Rev. Bonds (The Mix At CTR City), Series 2021-A-2, 4.00% 4/1/2056 <sup>(a)</sup>  | 550 | 414 |
| Coast Community College Dist., GO Bonds, CAB, 2012 Election, Series 2019-F, 0% 8/1/2040  | 550 | 311 |
| Coast Community College Dist., GO Bonds, CAB, 2012 Election, Series 2019-F, 0% 8/1/2042  | 880 | 440 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2025-G, 5.00% 12/1/2035  | 3985 | 4376 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2021-B-1, 4.00% 2/1/2052 (put <br> 8/1/2031)  | 1435 | 1456 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **114** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **California (continued)** | **California (continued)** | **California (continued)** |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2023-C, 5.25% 1/1/2054 (put <br> 10/1/2031)  | USD<br> 470<br>| $500 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-A, 5.00% 5/1/2054 (put <br> 4/1/2032)  | 1850 | 1984 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2023-G, 5.25% 11/1/2054 (put <br> 4/1/2030)  | 885 | 940 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-B, 5.00% 1/1/2055 (put <br> 12/1/2032)  | 395 | 412 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-E, 5.00% 2/1/2055 (put <br> 9/1/2032)  | 525 | 564 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-F, 5.00% 2/1/2055 (put <br> 11/1/2032)  | 1955 | 2115 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-C, 5.00% 8/1/2055 (put <br> 10/1/2032)  | 1275 | 1351 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-G, 5.00% 11/1/2055 (put <br> 8/1/2032)  | 905 | 942 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2025-C, 5.00% 12/1/2055 (put <br> 10/1/2033)  | 1500 | 1593 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2025-A, 5.00% 1/1/2056 (put <br> 5/1/2035)  | 920 | 970 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2025-B, 5.00% 3/1/2056 (put <br> 11/1/2035)  | 665 | 724 |
| Community Housing Agcy., Essential Housing Rev. Bonds (Fountains at Emerald Park), Series 2021-A-2, 4.00% <br> 8/1/2046 <sup>(a)</sup>  | 730 | 619 |
| Community Housing Agcy., Essential Housing Rev. Bonds (Fountains at Emerald Park), Series 2021-A-1, 3.00% <br> 8/1/2056 <sup>(a)</sup>  | 500 | 341 |
| Community Housing Agcy., Essential Housing Rev. Bonds (Glendale Properties), Series 2021-A-2, 4.00% 8/1/2047 <sup>(a)</sup>  | 4425 | 3400 |
| Community Housing Agcy., Essential Housing Rev. Bonds (Glendale Properties), Series 2021-A-1, 4.00% 2/1/2056 <sup>(a)</sup>  | 945 | 779 |
| Community Housing Agcy., Essential Housing Rev. Bonds (K Street Flats), Series 2021-A-2, 4.00% 8/1/2050 <sup>(a)</sup>  | 590 | 465 |
| Community Housing Agcy., Essential Housing Rev. Bonds (Summit at Sausalito Apartments), Series 2021-A-2, 4.00% <br> 2/1/2050 <sup>(a)</sup>  | 2030 | 1490 |
| Community Housing Agcy., Essential Housing Rev. Bonds (The Exchange at Bayfront Apartments), Series 2021-A-2, <br> 4.00% 8/1/2051 <sup>(a)</sup>  | 3915 | 1757 |
| Community Housing Agcy., Essential Housing Rev. Bonds (The Exchange at Bayfront Apartments), Series 2021-A-2, <br> 3.00% 2/1/2057 <sup>(a)</sup>  | 2000 | 1233 |
| Community Housing Agcy., Essential Housing Rev. Bonds (Verdant at Green Valley), Series 2019-A, 5.00% 8/1/2049 <sup>(a)</sup>  | 1100 | 1011 |
| Compton Unified School Dist., GO Bonds, CAB, 2015 Election, Series 2019-B, BAM, 0% 6/1/2034  | 110 | 80 |
| Compton Unified School Dist., GO Bonds, CAB, 2015 Election, Series 2019-B, BAM, 0% 6/1/2036  | 120 | 79 |
| Corona-Norco Unified School Dist., Public Fin. Auth., Special Tax Rev. Bonds, Series 2016-05-1, 4.00% 9/1/2029  | 70 | 70 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (1818 Platinum Triangle - Anaheim), <br> Series 2021-A-2, 3.25% 4/1/2057 <sup>(a)</sup>  | 195 | 141 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (1818 Platinum Triangle - Anaheim), <br> Series 2021-B, 4.00% 4/1/2057 <sup>(a)</sup>  | 1630 | 1204 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (777 Place - Pomona), Series 2021-B, <br> 4.00% 5/1/2057 <sup>(a)</sup>  | 385 | 271 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Acacia on Santa Rosa Creek), Series <br> 2021-B, 4.00% 10/1/2046 <sup>(a)</sup>  | 1755 | 1416 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Acacia on Santa Rosa Creek), Series <br> 2021-A, 4.00% 10/1/2056 <sup>(a)</sup>  | 215 | 176 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (City of Orange Portfolio), Series <br> 2021-A-1, 2.80% 3/1/2047 <sup>(a)</sup>  | 1465 | 1166 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (City of Orange Portfolio), Series <br> 2021-A-2, 3.00% 3/1/2057 <sup>(a)</sup>  | 1915 | 1300 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (City of Orange Portfolio), Series 2021-B, <br> 4.00% 3/1/2057 <sup>(a)</sup>  | 255 | 188 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Dublin), Series 2021-A-2, 3.00% <br> 2/1/2057 <sup>(a)</sup>  | 330 | 227 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Escondido Portfolio), Series 2021-A-1, <br> 3.00% 6/1/2048 <sup>(a)</sup>  | 700 | 498 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Escondido Portfolio), Series 2021-A-2, <br> 4.00% 6/1/2058 <sup>(a)</sup>  | 2180 | 1700 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Escondido Portfolio), Series 2021-B, <br> 4.00% 12/1/2059 <sup>(a)</sup>  | 3270 | 1752 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **115** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **California (continued)** | **California (continued)** | **California (continued)** |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Millennium South Bay - Hawthorne), <br> Series 2021-A-1, 3.375% 7/1/2043 <sup>(a)</sup>  | USD<br> 672<br>| $553 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Millennium South Bay - Hawthorne), <br> Series 2021-B, 4.00% 7/1/2058 <sup>(a)</sup>  | 807 | 443 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Monterey Station Apartments), Series <br> 2021-A-2, 3.125% 7/1/2056 <sup>(a)</sup>  | 1300 | 845 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Parallel-Anaheim), Series 2021-A, 4.00% <br> 8/1/2056 <sup>(a)</sup>  | 4105 | 3674 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Park Crossing Apartments), Series <br> 2021-A, 3.25% 12/1/2058 <sup>(a)</sup>  | 1630 | 1117 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Pasadena Portfolio), Series 2021-A-1, <br> 2.65% 12/1/2046 <sup>(a)</sup>  | 555 | 465 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Pasadena Portfolio), Series 2021-A-2, <br> 3.00% 12/1/2056 <sup>(a)</sup>  | 1040 | 730 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Pasadena Portfolio), Series 2021-B, <br> 4.00% 12/1/2056 <sup>(a)</sup>  | 4615 | 3499 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (The Link - Glendale), Series 2021-A-2, <br> 4.00% 7/1/2056 <sup>(a)</sup>  | 2818 | 2150 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Theo - Pasadena), Series 2021-A-2, <br> 3.25% 5/1/2057 <sup>(a)</sup>  | 445 | 316 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Union South Bay), Series 2021-A-1, <br> 3.10% 7/1/2045 <sup>(a)</sup>  | 1601 | 1365 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Union South Bay), Series 2021-A-2, <br> 4.00% 7/1/2056 <sup>(a)</sup>  | 8805 | 7260 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Westgate Phase 1 - Pasadena), Series <br> 2021-A-1, 3.00% 6/1/2047 <sup>(a)</sup>  | 290 | 204 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Westgate Phase 1 - Pasadena), Series <br> 2021-A-2, 3.125% 6/1/2057 <sup>(a)</sup>  | 1805 | 1086 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Wood Creek Apartments), Series <br> 2021-A-2, 4.00% 12/1/2058 <sup>(a)</sup>  | 685 | 489 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Wood Creek Apartments), Series <br> 2021-B, 4.00% 12/1/2059 <sup>(a)</sup>  | 250 | 139 |
| City of Dublin, Community Facs. Dist. No. 2015-1 (Dublin Crossing), Improvement Area No. 3, Special Tax Bonds, <br> Series 2021, 4.00% 9/1/2045  | 85 | 77 |
| City of Dublin, Community Facs. Dist. No. 2015-1 (Dublin Crossing), Improvement Area No. 3, Special Tax Bonds, <br> Series 2021, 4.00% 9/1/2051  | 85 | 73 |
| East County Advanced Water Purification JT Powers Auth. Green Bonds, Series 2024-A-1, 3.125% 9/1/2026  | 2000 | 2004 |
| Educational Facs. Auth., Rev. Bonds (Chapman University), Series 2017-B, 4.00% 4/1/2047  | 235 | 217 |
| Educational Facs. Auth., Rev. Bonds (Saint Mary's College of California), Series 2023-A, 5.25% 10/1/2044  | 160 | 157 |
| Enterprise Dev. Auth., Charter School Rev. Bonds (The Rocklin Academy Project), Series 2024, 5.00% 6/1/2064 <sup>(a)</sup>  | 250 | 229 |
| Etiwanda School Dist., GO Bonds, CAB, 2016 Election, Series 2020-A, 0% 8/1/2038  | 130 | 82 |
| Etiwanda School Dist., GO Bonds, CAB, 2016 Election, Series 2020-A, 0% 8/1/2039  | 110 | 66 |
| Etiwanda School Dist., GO Bonds, CAB, 2016 Election, Series 2020-A, 0% 8/1/2040  | 110 | 62 |
| Foothill/Eastern Transportation Corridor Agcy., Toll Road Rev. Ref. Bonds, CAB, Series 2015-A, AGI, 0% 1/15/2034  | 1000 | 787 |
| Hastings Campus Housing Fin. Auth., Campus Housing Rev. Green Bonds, Series 2020-A, 5.00% 7/1/2061 <sup>(a)</sup>  | 4220 | 3804 |
| Hastings Campus Housing Fin. Auth., Campus Housing Rev. Green Bonds, Convertible CAB, Series 2020-B, 0% <br> 7/1/2061 (6.75% on 7/1/2035) <sup>(a)(d)</sup>  | 1100 | 538 |
| Health Facs. Fncg. Auth., Rev. Bonds (Adventist Health System/West), Series 2024-A, 5.00% 12/1/2028  | 100 | 106 |
| Health Facs. Fncg. Auth., Rev. Bonds (Adventist Health System/West), Series 2013-A, 4.00% 3/1/2043  | 220 | 203 |
| Health Facs. Fncg. Auth., Rev. Bonds (Cedars-Sinai Medical Center), Series 2021-A, 3.00% 8/15/2051  | 910 | 659 |
| Health Facs. Fncg. Auth., Rev. Bonds (Children's Hospital Los Angeles), Series 2017-A, 5.00% 8/15/2047  | 335 | 313 |
| Health Facs. Fncg. Auth., Rev. Bonds (CommonSpirit Health), Series 2020-A, 4.00% 4/1/2045  | 2325 | 2177 |
| Housing Fin. Agcy., Municipal Certs., Series 2019-1, Class A, 4.25% 1/15/2035  | 645 | 667 |
| Housing Fin. Agcy., Municipal Certs., Series 2021-A-1, 3.50% 11/20/2035  | 5808 | 5758 |
| Housing Fin. Agcy., Municipal Certs., Series 2021-A-3, 3.25% 8/20/2036  | 4032 | 3870 |
| Housing Fin. Agcy., Municipal Certs., Series 2023-1, Class X, 0.297% 9/20/2036 <sup>(b)</sup>  | 11055 | 241 |
| Housing Fin. Agcy., Municipal Certs., Series 2023-1, Class A, 4.375% 9/20/2036  | 1475 | 1530 |
| Independent Cities Lease Fin. Auth., Mobile Home Park Rev. Ref. Bonds (Palomar Estates West), Series 2015, 5.00% <br> 9/15/2036  | 135 | 135 |
| Infrastructure and Econ. Dev. Bank, Rev. Bonds (Brightline West Passenger Rail Project), Series 2025, AMT, 3.50% <br> 1/1/2065 (put 11/2/2026) <sup>(a)</sup>  | 4500 | 4500 |
| Infrastructure and Econ. Dev. Bank, Rev. Bonds (WFCS Portfolio Projects), Series 2021-A-1, 5.00% 1/1/2056 <sup>(a)</sup>  | 420 | 361 |
| Infrastructure and Econ. Dev. Bank, Rev. Bonds (WFCS Portfolio Projects), CAB, Series 2021-B, 0% 1/1/2061 <sup>(a)</sup>  | 9130 | 820 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **116** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **California (continued)** | **California (continued)** | **California (continued)** |
| Infrastructure and Econ. Dev. Bank, Rev. Green Bonds (Brightline West Passenger Rail Project), Series 2025-B, AMT, <br> 12.00% 1/1/2065 (put 11/2/2026) <sup>(a)</sup>  | USD<br> 3,235<br>| $2394 |
| City of Lake Elsinore, Community Facs. Dist. No. 2006-1 (Summerly), Special Tax Bonds, Series 2020, 4.00% 9/1/2036  | 45 | 45 |
| City of Lake Elsinore, Community Facs. Dist. No. 2006-1 (Summerly), Special Tax Bonds, Series 2020, 4.00% 9/1/2050  | 145 | 126 |
| Lammersville Joint Unified School Dist., Community Facs. Dist. No. 2014-1 (Mountain House School Facs.), Special Tax <br> Bonds, Series 2020, 4.00% 9/1/2040  | 15 | 15 |
| Lammersville Joint Unified School Dist., Community Facs. Dist. No. 2014-1 (Mountain House School Facs.), Special Tax <br> Bonds, Series 2020, 4.00% 9/1/2045  | 35 | 32 |
| Lammersville Joint Unified School Dist., Community Facs. Dist. No. 2014-1 (Mountain House School Facs.), Special Tax <br> Bonds, Series 2020, 4.00% 9/1/2049  | 90 | 80 |
| Lammersville Joint Unified School Dist., Community Facs. Dist. No. 2024-1 (Mountain House School Facs.), Special Tax <br> Bonds, Series 2025, 5.25% 9/1/2055  | 150 | 156 |
| Las Virgenes Unified School Dist., GO Bonds, 2022 Election, Series 2025-B, 5.00% 8/1/2054  | 5345 | 5650 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. and Rev. Ref. Green Bonds, Series <br> 2025-D, 5.25% 5/15/2036  | 1635 | 1762 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2021-D, AMT, 3.00% <br> 5/15/2040  | 285 | 241 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2021-D, AMT, 3.00% <br> 5/15/2040 (preref. 11/15/2031)  | 15 | 15 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2024-C, 5.00% 7/1/2033  | 330 | 377 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2024-E, 5.00% 7/1/2035  | 110 | 126 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2023-E, 5.00% 7/1/2036  | 220 | 248 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2024-B, 5.00% 7/1/2036  | 110 | 125 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-B, 5.00% 7/1/2037  | 135 | 149 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-A, 5.00% 7/1/2038  | 50 | 54 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-B, 5.00% 7/1/2038  | 85 | 93 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2023-E, 5.00% 7/1/2038  | 480 | 534 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2024-B, 5.00% 7/1/2038  | 255 | 286 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-A, 5.00% 7/1/2039  | 150 | 162 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2024-C, 5.00% 7/1/2039  | 65 | 72 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-C, 5.00% 7/1/2040  | 135 | 146 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2024-A, 5.00% 7/1/2040  | 120 | 132 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2024-C, 5.00% 7/1/2040  | 110 | 121 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-A, 5.00% 7/1/2041  | 65 | 69 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-C, 5.00% 7/1/2041  | 270 | 288 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2024-C, 5.00% 7/1/2041  | 55 | 60 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2024-B, 5.00% 7/1/2042  | 220 | 238 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2023-E, 5.00% 7/1/2044  | 55 | 58 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2025-A, BAM, 5.25% 7/1/2044  | 60 | 65 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2025-A, BAM, 5.25% 7/1/2045  | 15 | 16 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2025-A, BAM, 5.25% 7/1/2046  | 40 | 43 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2024-E, 5.00% 7/1/2048  | 220 | 229 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2024-D, 5.00% 7/1/2050  | 270 | 280 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2025-A, 5.00% 7/1/2050  | 160 | 166 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-B, 5.00% 7/1/2052  | 175 | 180 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2024-D, 5.00% 7/1/2052  | 45 | 46 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2023-E, 5.00% 7/1/2053  | 340 | 349 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2025-A, BAM, 5.00% 7/1/2053  | 80 | 83 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2023-1-A, 5.25% 7/1/2053  | 110 | 116 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2025-A, BAM, 5.00% 7/1/2055  | 20 | 21 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2025-C, 5.00% 7/1/2028  | 1325 | 1400 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2025-C, 5.00% 7/1/2029  | 2075 | 2240 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2023-A, 5.00% 7/1/2034  | 110 | 125 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2024-A, 5.00% 7/1/2036  | 105 | 119 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2022-D, 5.00% 7/1/2038  | 100 | 110 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2022-B, 5.00% 7/1/2039  | 220 | 239 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2023-A, 5.00% 7/1/2039  | 215 | 238 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2024-B, 5.00% 7/1/2039  | 535 | 599 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2023-A, 5.00% 7/1/2041  | 35 | 38 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2022-C, 5.00% 7/1/2043  | 15 | 16 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2024-A, 5.00% 7/1/2044  | 55 | 58 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2022-B, 5.00% 7/1/2047  | 75 | 77 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2022-C, 5.00% 7/1/2047  | 220 | 228 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **117** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **California (continued)** | **California (continued)** | **California (continued)** |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2022-D, 5.00% 7/1/2047  | USD<br> 50<br>| $52 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2023-A, 5.25% 7/1/2053  | 315 | 329 |
| City of Los Angeles, Housing Auth., Multi Family Housing Rev. Bonds (Clarendon Apartments), Series 2024-B, 6.00% <br> 12/1/2062 <sup>(a)</sup>  | 250 | 239 |
| City of Los Angeles, Wastewater System Rev. Ref. Bonds, Series 2025-C, 5.00% 6/1/2043  | 430 | 479 |
| City of Los Angeles, Wastewater System Rev. Ref. Bonds, Series 2025-A, 5.00% 6/1/2055  | 5310 | 5643 |
| County of Los Angeles, Community Facs. Dist. No. 2021-01 (Valencia Facs.), Improvement Area No. 1, Special Tax <br> Bonds, Series 2022, 5.00% 9/1/2042  | 135 | 140 |
| County of Los Angeles, Community Facs. Dist. No. 2021-01 (Valencia Facs.), Improvement Area No. 1, Special Tax <br> Bonds, Series 2022, 5.00% 9/1/2047  | 120 | 123 |
| County of Los Angeles, Community Facs. Dist. No. 2021-01 (Valencia Facs.), Improvement Area No. 1, Special Tax <br> Bonds, Series 2022, 5.00% 9/1/2052  | 105 | 107 |
| Los Angeles Unified School Dist., GO Dedicated Unlimited Ad Valorem Property Tax Bonds, Series 2025-A-1, 5.00% <br> 7/1/2049  | 325 | 346 |
| Morongo Band of Mission Indians (The), Rev. Ref. Bonds, Series 2018-B, 5.00% 10/1/2042 <sup>(a)</sup>  | 1255 | 1272 |
| City of Mountain House, Community Facs. Dist. No. 2024-1 (Public Facs. and Services), Improvement Area No. 1, <br> Special Tax Bonds, Series 2025, 5.00% 9/1/2045  | 90 | 91 |
| City of Mountain House, Community Facs. Dist. No. 2024-1 (Public Facs. and Services), Improvement Area No. 1, <br> Special Tax Bonds, Series 2025, 5.00% 9/1/2050  | 170 | 171 |
| Municipal Fin. Auth., Community Facs. Dist. No. 2023-11 (City of Hesperia - Silverwood), Special Tax Bonds, Series <br> 2024, 5.00% 9/1/2044  | 40 | 41 |
| Municipal Fin. Auth., Community Facs. Dist. No. 2023-11 (City of Hesperia - Silverwood), Special Tax Bonds, Series <br> 2024, 5.00% 9/1/2049  | 60 | 60 |
| Municipal Fin. Auth., Community Facs. Dist. No. 2023-11 (City of Hesperia - Silverwood), Special Tax Bonds, Series <br> 2024, 5.00% 9/1/2054  | 100 | 99 |
| Municipal Fin. Auth., Community Facs. Dist. No. 2023-11 (City of Hesperia - Silverwood), Special Tax Bonds, Series <br> 2024, 5.125% 9/1/2059  | 50 | 50 |
| Municipal Fin. Auth., Educational Rev. Bonds (American Heritage Education Foundation Project), Series 2016-A, 5.00% <br> 6/1/2036  | 90 | 90 |
| Municipal Fin. Auth., Educational Rev. Bonds (American Heritage Education Foundation Project), Series 2016-A, 5.00% <br> 6/1/2046  | 200 | 200 |
| Municipal Fin. Auth., Municipal Certs., Series 2025-2, 4.217% 11/20/2040 <sup>(b)</sup>  | 2277 | 2282 |
| Municipal Fin. Auth., Municipal Certs., Series 2025-1, 3.439% 2/20/2041 <sup>(b)</sup>  | 1200 | 1125 |
| Municipal Fin. Auth., Rev. and Rev. Ref. Bonds (California Baptist University), Series 2025-A, 5.00% 11/1/2035 <sup>(a)</sup>  | 250 | 266 |
| Municipal Fin. Auth., Rev. Bonds (Clinicas del Camino Real, Inc.), Series 2020, 4.00% 3/1/2040  | 280 | 257 |
| Municipal Fin. Auth., Rev. Bonds (Clinicas del Camino Real, Inc.), Series 2020, 4.00% 3/1/2050  | 240 | 199 |
| Municipal Fin. Auth., Rev. Bonds (Community Health System), Series 2021-A, 3.00% 2/1/2046  | 1755 | 1312 |
| Municipal Fin. Auth., Rev. Bonds (Community Health System), Series 2021-A, AGI, 4.00% 2/1/2051  | 425 | 390 |
| Municipal Fin. Auth., Rev. Bonds (HumanGood - California Obligated Group), Series 2021, 3.00% 10/1/2046  | 220 | 169 |
| Municipal Fin. Auth., Rev. Bonds (HumanGood - California Obligated Group), Series 2021, 3.00% 10/1/2049  | 570 | 421 |
| Municipal Fin. Auth., Rev. Bonds (HumanGood - California Obligated Group), Series 2021, 4.00% 10/1/2049  | 115 | 101 |
| Municipal Fin. Auth., Rev. Bonds (John Adams Academies, Inc.), Series 2019-A, 4.00% 10/1/2029 <sup>(a)</sup>  | 45 | 45 |
| Municipal Fin. Auth., Rev. Bonds (John Adams Academies, Inc.), Series 2019-A, 5.00% 10/1/2049 <sup>(a)</sup>  | 170 | 154 |
| Municipal Fin. Auth., Rev. Bonds (John Adams Academies, Inc.), Series 2019-A, 5.00% 10/1/2057 <sup>(a)</sup>  | 120 | 106 |
| Municipal Fin. Auth., Rev. Bonds (LINXS APM Project), Series 2018-A, AMT, 5.00% 6/30/2029  | 250 | 259 |
| Municipal Fin. Auth., Rev. Bonds (LINXS APM Project), Series 2018-A, AMT, 5.00% 12/31/2043  | 250 | 251 |
| Municipal Fin. Auth., Rev. Bonds (LINXS APM Project), Series 2018-A, AMT, 4.00% 12/31/2047  | 750 | 658 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Azusa Pacific University Project), Series 2015-B, 5.00% 4/1/2026  | 60 | 60 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Azusa Pacific University Project), Series 2015-B, 5.00% 4/1/2030  | 55 | 55 |
| Municipal Fin. Auth., Rev. Ref. Bonds (HumanGood Obligated Group), Series 2019-A, 4.00% 10/1/2032  | 630 | 633 |
| Municipal Fin. Auth., Rev. Ref. Bonds (HumanGood Obligated Group), Series 2019-A, 4.00% 10/1/2038  | 195 | 195 |
| Municipal Fin. Auth., Senior Living Rev. Bonds (Mt. San Antonio Gardens Project), Series 2019, 5.00% 11/15/2039  | 50 | 51 |
| Municipal Fin. Auth., Senior Living Rev. Bonds (Mt. San Antonio Gardens Project), Series 2022-A, 4.00% 11/15/2042  | 55 | 50 |
| Municipal Fin. Auth., Senior Living Rev. Bonds (Mt. San Antonio Gardens Project), Series 2022-A, 4.00% 11/15/2052  | 55 | 45 |
| Municipal Fin. Auth., Social Rev. Bonds (HealthRIGHT 360), Series 2019-A, 5.00% 11/1/2039 <sup>(a)</sup>  | 60 | 60 |
| Municipal Fin. Auth., Social Rev. Bonds (HealthRIGHT 360), Series 2019-A, 5.00% 11/1/2049 <sup>(a)</sup>  | 220 | 199 |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Republic Services, Inc. Project), Series 2023-A, AMT, 4.375% <br> 9/1/2053 (put 9/1/2033)  | 250 | 260 |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Republic Services, Inc. Project), Series 2024-A, AMT, 3.875% <br> 3/1/2054 (put 3/1/2034)  | 235 | 235 |
| Municipal Fin. Auth., Special Fac. Rev. Bonds (United Airlines, Inc. Los Angeles International Airport Project), Series <br> 2019, AMT, 4.00% 7/15/2029  | 2280 | 2291 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **118** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **California (continued)** | **California (continued)** | **California (continued)** |
| Municipal Fin. Auth., Special Fin. Agcy. VII, Essential Housing Rev. Bonds (The Breakwater Apartments), Series <br> 2021-A-2, 4.00% 8/1/2047 <sup>(a)</sup>  | USD<br> 830<br>| $759 |
| Municipal Fin. Auth., Special Fin. Agcy. XII, Essential Housing Rev. Bonds (Allure Apartments), Series 2022-A-2, 4.375% <br> 8/1/2049 <sup>(a)</sup>  | 790 | 672 |
| Municipal Fin. Auth., Special Fin. Agcy. XII, Essential Housing Rev. Bonds (Allure Apartments), Series 2022-A-1, 3.25% <br> 2/1/2057 <sup>(a)</sup>  | 1420 | 1022 |
| Municipal Fin. Auth., Special Fin. Agcy., Essential Housing Rev. Bonds (Latitude 33), Series 2021-A-1, 3.00% <br>12/1/2056 <sup>(a)</sup>  | 2020 | 1309 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis II, LLC - Orchard Park Student Housing Project), Series <br> 2021, BAM, 4.00% 5/15/2046  | 80 | 75 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis II, LLC - Orchard Park Student Housing Project), Series <br> 2021, BAM, 3.00% 5/15/2051  | 390 | 293 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis II, LLC - Orchard Park Student Housing Project), Series <br> 2021, BAM, 3.00% 5/15/2054  | 90 | 66 |
| National Fin. Auth., Municipal Certs., Series 2024-4, Class A-CA, 3.81% 7/20/2039 <sup>(b)</sup>  | 2627 | 2570 |
| Newport-Mesa Unified School Dist., GO Rev. Ref. Bonds, CAB, Series 2017, 0% 8/1/2044  | 195 | 88 |
| Northern California Gas Auth. No. 1, Gas Project Rev. Bonds, Series 2007-B, (3-month USD CME Term SOFR x 0.67 + <br> 0.72%) 3.565% 7/1/2027 <sup>(b)</sup>  | 335 | 336 |
| County of Orange, Community Facs. Dist. No. 2015-1 (Esencia Village), Special Tax Rev. Ref. Bonds, Series 2015-A, <br> 5.25% 8/15/2045  | 250 | 250 |
| County of Orange, Community Facs. Dist. No. 2021-1 (Rienda), Special Tax Bonds, Series 2022-A, 5.00% 8/15/2037  | 135 | 144 |
| County of Orange, Community Facs. Dist. No. 2021-1 (Rienda), Special Tax Bonds, Series 2022-A, 5.00% 8/15/2042  | 65 | 68 |
| County of Orange, Community Facs. Dist. No. 2021-1 (Rienda), Special Tax Bonds, Series 2022-A, 5.00% 8/15/2047  | 105 | 107 |
| County of Orange, Community Facs. Dist. No. 2021-1 (Rienda), Special Tax Bonds, Series 2022-A, 5.00% 8/15/2052  | 265 | 269 |
| County of Orange, Community Facs. Dist. No. 2023-1 (Rienda Phase 2B), Special Tax Bonds, Series 2023-A, 5.50% <br> 8/15/2053  | 420 | 437 |
| City of Palm Desert, Community Facs. Dist. No. 2021-1 (University Park), Special Tax Bonds, Series 2021, 4.00% <br> 9/1/2041  | 85 | 80 |
| City of Palm Desert, Community Facs. Dist. No. 2021-1 (University Park), Special Tax Bonds, Series 2021, 4.00% <br> 9/1/2051  | 100 | 85 |
| Palomar Health, GO Rev. Ref. Bonds, Series 2017, AGI, 5.00% 11/1/2028  | 50 | 50 |
| Palomar Health, GO Rev. Ref. Bonds, Series 2016, AGI, 5.00% 11/1/2042  | 955 | 859 |
| Palomar Health, Rev. Ref. Bonds, Series 2016, 5.00% 11/1/2039  | 290 | 272 |
| Palomar Pomerado Health, GO Bonds, CAB, 2004 Election, Series 2009-A, AGI, 0% 8/1/2029  | 305 | 264 |
| Palomar Pomerado Health, GO Bonds, CAB, 2004 Election, Series 2009-A, AGI, 0% 8/1/2031  | 280 | 223 |
| Pollution Control Fncg. Auth., Water Furnishing Rev. Bonds (Poseidon Resources (Channelside), LP Desalination <br> Project), Series 2012, AMT, 5.00% 11/21/2045 <sup>(a)</sup>  | 360 | 360 |
| Public Fin. Auth., Rev. Bonds (Henry Mayo Newhall Memorial Hospital), Series 2021-B, 4.00% 10/15/2051 (put <br> 10/15/2031)  | 70 | 69 |
| Public Fin. Auth., Senior Living Rev. Bonds (The James), Series 2024-A, 5.875% 6/1/2039 <sup>(a)</sup>  | 2520 | 2556 |
| Public Fin. Auth., Senior Living Rev. Bonds (The James), Series 2024-A, 6.20% 6/1/2044 <sup>(a)</sup>  | 805 | 796 |
| Public Fin. Auth., Senior Living Rev. Bonds (The James), Series 2024-A, 6.50% 6/1/2054 <sup>(a)</sup>  | 815 | 798 |
| Public Fin. Auth., Senior Living Rev. Bonds (The James), Series 2024-A, 6.375% 6/1/2059 <sup>(a)</sup>  | 2640 | 2524 |
| Public Works Board, Lease Rev. Bonds (Dept. of General Services, May Lee State Office Complex), Series 2024-A, <br> 5.00% 4/1/2049  | 10000 | 10578 |
| City of Rancho Cordova, Community Facs. Dist. No. 2003-1 (Sunridge Anatolia), Special Tax Bonds, Series 2016, 4.00% <br> 9/1/2037  | 55 | 55 |
| Rio Hondo Community College Dist., GO Bonds (Dedicated Unlimited Ad Valorem Property Tax Bonds), 2024 Election, <br> Series 2025-A, 5.00% 8/1/2050  | 5380 | 5732 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2003-1 (Public Improvements), Special Tax Bonds, Series <br> 2019-A, 5.00% 9/1/2038  | 415 | 428 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2003-1 (Public Improvements), Special Tax Bonds, Series <br> 2019-A, 5.00% 9/1/2048  | 655 | 657 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2003-1 (Public Improvements), Special Tax Bonds, Series <br> 2022, 5.75% 9/1/2052  | 490 | 508 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2019-1 (Phase 2 Public Improvements), Special Tax Bonds, <br> Series 2021, 4.00% 9/1/2051  | 135 | 116 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2021-1 (Public Improvements), Special Tax Bonds, Series <br> 2021-1, 4.00% 9/1/2041  | 135 | 125 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2021-1 (Public Improvements), Special Tax Bonds, Series <br> 2021-1, 4.00% 9/1/2046  | 170 | 144 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2021-1 (Public Improvements), Special Tax Bonds, Series <br> 2021-1, 4.00% 9/1/2051  | 335 | 274 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **119** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **California (continued)** | **California (continued)** | **California (continued)** |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2023-1 (Public Facs.), Special Tax Bonds, Series 2024, <br> 5.00% 9/1/2039  | USD<br> 350<br>| $369 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2023-1 (Public Facs.), Special Tax Bonds, Series 2024, <br> 4.50% 9/1/2044  | 110 | 106 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2023-1 (Public Facs.), Special Tax Bonds, Series 2024, <br> 5.00% 9/1/2048  | 250 | 250 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2023-1 (Public Facs.), Special Tax Bonds, Series 2024, <br> 5.00% 9/1/2054  | 65 | 65 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2023-1 (Public Facs.), Special Tax Bonds, Series 2025, <br> 5.00% 9/1/2055  | 1000 | 993 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2023-1 (Public Facs.), Special Tax Bonds, Series 2025, <br> 5.00% 9/1/2055  | 550 | 544 |
| County of Riverside, Redev. Agcy., Tax Allocation Bonds (Jurupa Valley Redev. Project Area), CAB, Series 2011-B, 0% <br> 10/1/2039  | 465 | 272 |
| City of Sacramento, Community Facs. Dist. No. 2018-03 (Greenbriar), Improvement Area No. 2, Special Tax Bonds, <br> Series 2024, 5.00% 9/1/2049  | 225 | 229 |
| City of Sacramento, Community Facs. Dist. No. 2018-03 (Greenbriar), Improvement Area No. 2, Special Tax Bonds, <br> Series 2024, 5.00% 9/1/2054  | 445 | 452 |
| City of Sacramento, Community Facs. Dist. No. 2019-01 (Delta Shores), Improvement Area No. 2, Special Tax Bonds, <br> Series 2022, 5.75% 9/1/2052  | 415 | 430 |
| County of Sacramento, Water Fncg. Auth., Rev. Ref. Bonds (Water Agcy. Zones 40 and 41), Series 2007-B, (3-month <br> USD CME Term SOFR x 0.67 + 0.55%) 3.266% 6/1/2034 <sup>(b)</sup>  | 535 | 524 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Bonds, Series <br> 2022-A-2, AMT, 5.00% 5/1/2026  | 155 | 156 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Ref. Bonds, Series <br> 2024-A-2, AMT, 5.25% 5/1/2049  | 145 | 151 |
| City and County of San Francisco, Community Facs. Dist. No. 2016-1 (Treasure Island), Improvement Area No. 1, <br> Special Tax Bonds, Series 2021, 4.00% 9/1/2046  | 235 | 204 |
| City and County of San Francisco, Community Facs. Dist. No. 2016-1 (Treasure Island), Improvement Area No. 1, <br> Special Tax Bonds, Series 2021, 4.00% 9/1/2051  | 125 | 105 |
| City and County of San Francisco, Community Facs. Dist. No. 2016-1 (Treasure Island), Improvement Area No. 2, <br> Special Tax Bonds, Series 2022-A, 4.00% 9/1/2042 <sup>(a)</sup>  | 225 | 211 |
| City and County of San Francisco, Community Facs. Dist. No. 2016-1 (Treasure Island), Improvement Area No. 2, <br> Special Tax Bonds, Series 2022-A, 4.00% 9/1/2052 <sup>(a)</sup>  | 175 | 150 |
| City and County of San Francisco, Public Utilities Commission, San Francisco Water Rev. Bonds, Series 2025-D, 5.00% <br> 11/1/2055  | 8480 | 8981 |
| City and County of San Francisco, Public Utilities Commission, San Francisco Water Rev. Bonds, Series 2025-E, 5.25% <br> 11/1/2055  | 1250 | 1351 |
| City and County of San Francisco, Public Utilities Commission, Wastewater Rev. Green Bonds, Series 2024-C, 5.00% <br> 10/1/2049  | 9895 | 10489 |
| City and County of San Francisco, Special Tax Dist. No. 2020-1 (Mission Rock Facs. and Services), Dev. Special Tax <br> Bonds, Series 2021-A, 4.00% 9/1/2036 <sup>(a)</sup>  | 240 | 242 |
| City and County of San Francisco, Special Tax Dist. No. 2020-1 (Mission Rock Facs. and Services), Dev. Special Tax <br> Bonds, Series 2021-A, 4.00% 9/1/2046 <sup>(a)</sup>  | 100 | 87 |
| City and County of San Francisco, Special Tax Dist. No. 2020-1 (Mission Rock Facs. and Services), Dev. Special Tax <br> Bonds, Series 2021-A, 4.00% 9/1/2051 <sup>(a)</sup>  | 765 | 656 |
| City and County of San Francisco, Special Tax Dist. No. 2020-1 (Mission Rock Facs. and Services), Office Special Tax <br> Bonds, Series 2023-B, 5.25% 9/1/2038 <sup>(a)</sup>  | 140 | 151 |
| City and County of San Francisco, Special Tax Dist. No. 2020-1 (Mission Rock Facs. and Services), Office Special Tax <br> Bonds, Series 2023-B, 5.50% 9/1/2043 <sup>(a)</sup>  | 70 | 74 |
| City and County of San Francisco, Special Tax Dist. No. 2020-1 (Mission Rock Facs. and Services), Office Special Tax <br> Bonds, Series 2023-B, 5.75% 9/1/2053 <sup>(a)</sup>  | 105 | 110 |
| City and County of San Francisco, Special Tax Dist. No. 2020-1 (Mission Rock Facs. and Services), Shoreline Special Tax <br> Bonds, Series 2023-C, 5.75% 9/1/2053 <sup>(a)</sup>  | 85 | 89 |
| City and County of San Francisco, Successor Agcy. to the Redev. Agcy., Community Facs. Dist. No. 7 (Hunters Point <br> Shipyard Phase 1 Improvements), Special Tax Rev. Ref. Bonds, Series 2014, 5.00% 8/1/2044  | 85 | 85 |
| City and County of San Francisco, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds (Mission Bay <br> South Redev. Project), Series 2016-C, 5.00% 8/1/2031  | 70 | 71 |
| City of San Francisco, Bay Area Rapid Transit Dist., GO Green Bonds, 2016 Election, Series 2020-C-1, 3.00% 8/1/2050  | 360 | 271 |
| San Francisco Community College Dist., GO Bonds, 2020 Election, Series 2020-A, 3.00% 6/15/2045  | 315 | 252 |
| San Marcos Unified School Dist., GO Rev. Ref. Bonds, 2024 Election, Series 2025-A, 5.25% 8/1/2055  | 150 | 162 |
| School Fin. Auth., Charter School Rev. Bonds (Classical Academies Oceanside Project), Series 2022-A, 5.00% <br> 10/1/2052 <sup>(a)</sup>  | 145 | 141 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **120** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **California (continued)** | **California (continued)** | **California (continued)** |
| School Fin. Auth., Charter School Rev. Bonds (Classical Academies Oceanside Project), Series 2022-A, 5.00% <br> 10/1/2061 <sup>(a)</sup>  | USD<br> 135<br>| $131 |
| School Fin. Auth., School Fac. Rev. Ref. Bonds (High Tech High Learning Project), Series 2017-A, 5.00% 7/1/2049 <sup>(a)</sup>  | 120 | 115 |
| City of Seal Beach, Community Facs. Dist. No. 2005-1 (Pacific Gateway Business Center), Special Tax Rev. Ref. Bonds, <br> Series 2016, 3.00% 9/1/2027  | 15 | 15 |
| City of Seal Beach, Community Facs. Dist. No. 2005-1 (Pacific Gateway Business Center), Special Tax Rev. Ref. Bonds, <br> Series 2016, 3.00% 9/1/2028  | 15 | 15 |
| City of Seal Beach, Community Facs. Dist. No. 2005-1 (Pacific Gateway Business Center), Special Tax Rev. Ref. Bonds, <br> Series 2016, 3.125% 9/1/2030  | 25 | 25 |
| City of Seal Beach, Community Facs. Dist. No. 2005-1 (Pacific Gateway Business Center), Special Tax Rev. Ref. Bonds, <br> Series 2016, 3.125% 9/1/2031  | 55 | 54 |
| Southern California Public Power Auth., Ref. Rev. Bonds (Apex Power Project), Series 2024-A, 5.00% 7/1/2033  | 55 | 63 |
| Southern California Public Power Auth., Rev. Bonds (Southern Transmission System Renewal Project), Series 2024-1, <br> 5.00% 7/1/2053  | 280 | 292 |
| Southern California Public Power Auth., Rev. Bonds (Southern Transmission System Renewal Project), Series 2025-1, <br> 5.00% 7/1/2053  | 65 | 68 |
| Statewide Communities Dev. Auth., Rev. Bonds (Front Porch Communities and Services), Series 2021-A, 3.00% <br> 4/1/2051  | 3295 | 2368 |
| Statewide Communities Dev. Auth., Rev. Bonds (Lancer Educational Student Housing Project), Series 2019-A, 5.00% <br> 6/1/2051 <sup>(a)</sup>  | 300 | 283 |
| Statewide Communities Dev. Auth., Rev. Bonds (Loma Linda University Medical Center), Series 2014-A, 5.25% <br> 12/1/2044  | 590 | 592 |
| Statewide Communities Dev. Auth., Rev. Bonds (Loma Linda University Medical Center), Series 2014-A, 5.50% <br> 12/1/2054  | 440 | 441 |
| Statewide Communities Dev. Auth., Rev. Bonds (Loma Linda University Medical Center), Series 2016-A, 5.25% <br> 12/1/2056 <sup>(a)</sup>  | 4260 | 4263 |
| Statewide Communities Dev. Auth., Rev. Bonds (Loma Linda University Medical Center), Series 2018-A, 5.50% <br> 12/1/2058 <sup>(a)</sup>  | 1000 | 1011 |
| Statewide Communities Dev. Auth., Rev. Ref. Bonds (Lancer Educational Student Housing Project), Series 2016-A, <br> 4.00% 6/1/2026 <sup>(a)</sup>  | 110 | 110 |
| Statewide Communities Dev. Auth., Rev. Ref. Bonds (Lancer Educational Student Housing Project), Series 2016-A, <br> 5.00% 6/1/2036 <sup>(a)</sup>  | 300 | 301 |
| Statewide Communities Dev. Auth., Rev. Ref. Bonds (Lancer Educational Student Housing Project), Series 2016-A, <br> 5.00% 6/1/2046 <sup>(a)</sup>  | 425 | 409 |
| Statewide Communities Dev. Auth., Statewide Community Infrastructure Program Rev. Bonds (City of Hesperia <br> Ranchero Road Widening Improvements), Series 2023, 5.75% 9/2/2053  | 385 | 400 |
| Statewide Communities Dev. Auth., Student Housing Rev. Bonds (Custodial Receipts), Series 2017, 4.305% 7/1/2032  | 375 | 353 |
| Statewide Communities Dev. Auth., Taxable Statewide Community Infrastructure Program Rev. Bonds, Series 2024-B-2, <br> 7.00% 9/2/2054  | 135 | 129 |
| Tejon Ranch Public Facs. Fncg. Auth., Community Facs. Dist. No. 2008-1, Special Tax Rev. Ref. Bonds (Tejon Ranch <br> Industrial Complex Public Improvements - East), Series 2024-A, 5.00% 9/1/2054  | 40 | 40 |
| Regents of the University of California, General Rev. Bonds, Series 2025-CD, 5.00% 5/15/2030  | 3860 | 4305 |
| Regents of the University of California, General Rev. Bonds, Series 2025-CD, 5.00% 5/15/2040  | 485 | 555 |
| Regents of the University of California, General Rev. Bonds, Series 2025-CD, 5.25% 5/15/2040  | 600 | 734 |
| Regents of the University of California, General Rev. Bonds, Series 2025-CC, 4.00% 5/15/2055  | 300 | 281 |
| Regents of the University of California, General Rev. Bonds, Series 2025-CC, 5.25% 5/15/2055  | 2945 | 3171 |
| Various Purpose GO Bonds, Series 2024, 5.25% 8/1/2044  | 945 | 1049 |
| Various Purpose GO Rev. Ref. Bonds, Series 2024, 5.00% 8/1/2039  | 1000 | 1146 |
| Various Purpose GO Rev. Ref. Bonds, Series 2025, 5.00% 3/1/2045  | 125 | 136 |
|  |  | 226623 |
| **Colorado 7.04%** | **Colorado 7.04%** | **Colorado 7.04%** |
| County of Adams, DIATC Metropolitan Dist., Limited Tax GO Rev. Ref. and Improvement Bonds, Series 2019, 5.00% <br> 12/1/2049 <sup>(a)</sup>  | 2000 | 1967 |
| County of Adams, Lakeridge Metropolitan Dist. No. 2, Rev. Ref. GO and Improvement Bonds, Series 2019, 5.25% <br> 12/1/2048  | 500 | 489 |
| County of Adams, Rocky Mountain Rail Park Metropolitan Dist., Limited Tax GO and Enterprise Rev. Bonds, Series <br> 2021-A, 5.00% 12/1/2051 <sup>(a)</sup>  | 3237 | 2963 |
| Aerotropolis Regional Transportation Auth., Special Rev. Bonds, Series 2021, 4.25% 12/1/2041  | 500 | 456 |
| Aerotropolis Regional Transportation Auth., Special Rev. Bonds, Series 2024, 5.50% 12/1/2044 <sup>(a)</sup>  | 830 | 842 |
| Aerotropolis Regional Transportation Auth., Special Rev. Bonds, Series 2019, 5.00% 12/1/2051  | 295 | 272 |
| Aerotropolis Regional Transportation Auth., Special Rev. Bonds, Series 2021, 4.375% 12/1/2052  | 6800 | 5702 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **121** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Colorado (continued)** | **Colorado (continued)** | **Colorado (continued)** |
| Aerotropolis Regional Transportation Auth., Special Rev. Bonds, Series 2024, 5.75% 12/1/2054 <sup>(a)</sup>  | USD<br> 2,510<br>| $2512 |
| County of Arapahoe, Fitzsimons Village Metropolitan Dist. No. 3, Limited Tax GO and Special Rev. Ref. and <br> Improvement Bonds, Series 2021-A-1, 4.25% 12/1/2055  | 2171 | 1712 |
| County of Arapahoe, Sky Ranch Community Auth. Board Dist. No. 3, Limited Tax Supported Bonds, Series 2022-A, <br> 5.75% 12/15/2052  | 750 | 760 |
| Arkansas River Power Auth., Power Supply System Rev. Ref. Bonds, Series 2018-A, 5.00% 10/1/2033  | 185 | 191 |
| Arkansas River Power Auth., Power Supply System Rev. Ref. Bonds, Series 2018-A, 5.00% 10/1/2043  | 445 | 450 |
| City of Arvada, Haskins Station Metropolitan Dist., Limited Tax GO and Special Rev. Bonds, Series 2019-A, 5.00% <br> 12/1/2049  | 838 | 730 |
| City of Aurora, Aurora Crossroads Metropolitan Dist. No. 2, Limited Tax Convertible GO Bonds, CAB, Series 2025-A-1, <br> 0% 12/1/2055 (6.25% on 12/1/2027) <sup>(d)</sup>  | 3000 | 2676 |
| City of Aurora, Colorado International Center Metropolitan Dist. No. 7, Limited Tax GO Bonds, Convertible CAB, Series <br> 2021, 0% 12/1/2051 (5.25% on 12/1/2027) <sup>(d)</sup>  | 1901 | 1576 |
| City of Aurora, HM Metropolitan Dist. No. 2, Limited Tax GO and Special Rev. Bonds, Convertible CAB, Series 2021, 0% <br> 12/1/2051 (6.00% on 12/1/2027) <sup>(d)</sup>  | 11830 | 10216 |
| City of Aurora, Parkside at City Centre Business Improvement Dist., Special Rev. and Tax Supported Senior Bonds, <br> Series 2019-A, 6.25% 12/1/2048  | 1861 | 1866 |
| City of Aurora, Pronghorn Valley Metropolitan Dist., Limited Tax GO Bonds (Convertible to Unlimited Tax), Series <br> 2021-A, 4.00% 12/1/2051  | 500 | 406 |
| City of Aurora, Southlands Metropolitan Dist. No. 1, GO Rev. Ref. Bonds, Series 2017-A-1, 5.00% 12/1/2037  | 476 | 479 |
| City of Aurora, Southlands Metropolitan Dist. No. 1, GO Rev. Ref. Bonds, Series 2017-A-1, 5.00% 12/1/2047  | 1648 | 1601 |
| City of Aurora, Velocity Metropolitan Dist. No. 3, Limited Tax GO Bonds, Series 2019, 5.50% 12/1/2048  | 1700 | 1628 |
| City of Aurora, Windler Public Improvement Auth., Limited Tax Supported Rev. Bonds, Series 2021-A-1, 4.00% <br> 12/1/2041  | 500 | 417 |
| City of Aurora, Windler Public Improvement Auth., Limited Tax Supported Rev. Bonds, Series 2021-A-1, 4.125% <br> 12/1/2051  | 9784 | 7403 |
| City of Aurora, Windler Public Improvement Auth., Limited Tax Supported Rev. Bonds, Convertible CAB, Series <br> 2021-A-2, 0% 12/1/2036 (4.375% on 12/1/2027) <sup>(d)</sup>  | 818 | 679 |
| Brickyard Metropolitan Dist. No. 1, GO Limited Tax and Special Rev. Bonds, Series 2025, 7.00% 12/1/2045  | 2000 | 1944 |
| City of Brighton, Brighton Crossing Metropolitan Dist. No. 6, Limited Tax GO Bonds, Series 2020-A, 5.00% 12/1/2050  | 1914 | 1824 |
| City of Brighton, Prairie Corner Metropolitan Dist., Limited Tax GO Bonds, Series 2021, 4.875% 12/1/2051  | 500 | 422 |
| City of Brighton, Ridgeline Vista Metropolitan Dist., GO Limited Tax Bonds, Series 2021-A, 5.25% 12/1/2060  | 1256 | 1184 |
| City and County of Broomfield, Baseline Metropolitan Dist. No. 1, Special Rev. Bonds, Series 2024-B, 6.75% <br> 12/15/2054 <sup>(e)</sup>  | 1000 | 1005 |
| City and County of Broomfield, Palisade Metropolitan Dist. No. 2, Limited Tax GO and Rev. Ref. Bonds, CAB, Series <br> 2024-B, 0% 12/15/2054 (5.875% on 12/15/2026) <sup>(a)(d)</sup>  | 1203 | 1148 |
| City of Centennial, Southglenn Metropolitan Dist., Special Rev. Ref. Bonds, Series 2016, 5.00% 12/1/2030  | 670 | 671 |
| City of Centennial, Southglenn Metropolitan Dist., Special Rev. Ref. Bonds, Series 2016, 5.00% 12/1/2046  | 500 | 475 |
| Colorado Springs School Dist. No. 11, Certs. Of Part., Series 2024, BAM, 5.00% 12/15/2044  | 15 | 16 |
| Colorado Springs School Dist. No. 11, Certs. Of Part., Series 2024, BAM, 5.25% 12/15/2048  | 95 | 100 |
| City of Colorado Springs, Colorado Crossing Metropolitan Dist. No. 2, Limited Tax GO Bonds, Series 2020-A-2, 5.00% <br> 12/1/2050  | 2969 | 2818 |
| City of Colorado Springs, Copper Ridge Metropolitan Dist., Tax Increment and Sales Tax Rev. Bonds, Series 2019, <br> 4.00% 12/1/2029  | 866 | 855 |
| City of Colorado Springs, Copper Ridge Metropolitan Dist., Tax Increment and Sales Tax Rev. Bonds, Series 2019, <br> 5.00% 12/1/2043  | 1541 | 1475 |
| City of Colorado Springs, Creekwalk Marketplace Business Improvement Dist., Limited Tax Supported and Special Rev. <br> Ref. and Improvement Bonds, Series 2024-A, 6.00% 12/1/2054  | 2632 | 2637 |
| City of Colorado Springs, Gold Hills North Business Improvement Dist., Limited Tax GO and Special Rev. Bonds, Series <br> 2024-A, 5.60% 12/1/2054 <sup>(a)</sup>  | 1314 | 1291 |
| Commerce City, Reunion Metropolitan Dist., Special Rev. Bonds, Series 2021-A, 3.625% 12/1/2044  | 1403 | 1040 |
| City of Commerce City, Second Creek Farm Metropolitan Dist. No. 3, Limited Tax GO Bonds, Series 2019-A, 5.00% <br> 12/1/2049  | 500 | 469 |
| City of Commerce City, Settler's Crossing Metropolitan Dist. No. 1, Limited Tax GO Bonds, Series 2020-A, 5.125% <br> 12/1/2050 <sup>(a)</sup>  | 4265 | 4109 |
| Conexus Metropolitan Dist. No. 1, Limited Tax GO and Special Rev. Bonds, Series 2025-A, 6.25% 12/1/2055  | 500 | 504 |
| Copperleaf Metropolitan Dist. No. 5, GO Limited Tax Rev. Ref. Bonds, Series 2025-A, 6.25% 12/1/2045  | 1500 | 1512 |
| Copperleaf Metropolitan Dist. No. 5, GO Limited Tax Rev. Ref. Bonds, Series 2025-B, 8.75% 12/1/2055 <sup>(e)</sup>  | 1250 | 1224 |
| Crowfoot Valley Ranch Metropolitan Dist. No. 2, Limited Tax GO Rev. Ref. Bonds, Series 2024-B, 6.125% 12/15/2054 <sup>(e)</sup>  | 1000 | 974 |
| City and County of Denver, Airport System Rev. Bonds, Series 2022-A, AMT, 4.125% 11/15/2053  | 305 | 273 |
| City and County of Denver, Aviation Station North Metropolitan Dist. No. 2, Limited Tax GO Rev. Ref. and Improvement <br> Bonds, Series 2019-A, 5.00% 12/1/2048  | 500 | 494 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **122** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Colorado (continued)** | **Colorado (continued)** | **Colorado (continued)** |
| City and County of Denver, Broadway Park North Metropolitan Dist. No. 2, Limited Tax GO Rev. Ref. and Improvement <br> Bonds, Series 2020, 5.00% 12/1/2049 <sup>(a)</sup>  | USD<br> 1,109<br>| $1050 |
| City and County of Denver, Colorado International Center Metropolitan Dist. No. 14, Limited Tax GO Rev. Ref. and <br> Improvement Bonds, Series 2018, 5.875% 12/1/2046  | 2012 | 2013 |
| City and County of Denver, Dedicated Tax Rev. Bonds, CAB, Series 2018-A-2, 0% 8/1/2034  | 65 | 46 |
| City and County of Denver, Dept. of Aviation, Special Facs. Airport Rev. Ref. Bonds (United Air Lines Project), Series <br> 2017, AMT, 5.00% 10/1/2032  | 3965 | 3969 |
| City and County of Denver, Park Creek Metropolitan Dist., Limited Property Tax Supported Rev. Ref. and Improvement <br> Bonds, Series 2025, AGI, 5.00% 12/1/2040  | 600 | 648 |
| City and County of Denver, Park Creek Metropolitan Dist., Limited Property Tax Supported Rev. Ref. and Improvement <br> Bonds, Series 2025, AGI, 5.00% 12/1/2041  | 560 | 599 |
| City and County of Denver, Water Rev. Bonds, Series 2016-A, 3.00% 9/15/2045  | 260 | 213 |
| City of Denver, Urban Renewal Auth., Stapleton Tax Increment Rev. Bonds, Series 2018-A, 5.25% 12/1/2039 <sup>(a)</sup>  | 1810 | 1817 |
| City of Denver, Urban Renewal Auth., Stapleton Tax Increment Rev. Bonds, Series 2018-A, 5.25% 12/1/2039 <sup>(a)</sup>  | 670 | 673 |
| Denver Health and Hospital Auth., Healthcare Rev. Bonds, Series 2025-A, 5.125% 12/1/2050  | 730 | 737 |
| Denver Health and Hospital Auth., Healthcare Rev. Bonds, Series 2025-A, 6.00% 12/1/2055  | 295 | 318 |
| County of Douglas, Chambers Highpoint Metropolitan Dist. No. 2, Limited Tax GO and Special Rev. Bonds, Series <br> 2021, 5.00% 12/1/2051  | 700 | 533 |
| County of Douglas, Crystal Crossing Metropolitan Dist., Limited Tax Rev. Ref. GO Bonds, Series 2016, 5.25% 12/1/2040  | 500 | 500 |
| County of Douglas, Hilltop Metropolitan Dist., Limited Tax GO Bonds, Series 2020-A, AMT, 6.25% 12/1/2050  | 255 | 235 |
| County of Douglas, Mirabelle Metropolitan Dist. No. 2, Limited Tax GO Ref. Rev. and Improvement Bonds, Series <br> 2025-A, AGI, 4.50% 12/1/2049  | 56 | 54 |
| E-470 Public Highway Auth., Rev. Bonds, Series 2024-A, 5.00% 9/1/2040  | 115 | 128 |
| E-470 Public Highway Auth., Rev. Bonds, CAB, Series 2006-B, NATL, 0% 9/1/2037  | 425 | 239 |
| County of Eagle, The Village Metropolitan Dist., Special Rev. and Limited Property Tax Improvement Bonds, Series <br> 2025-A, 5.75% 12/1/2055  | 1125 | 1136 |
| Educational and Cultural Facs. Auth., Charter School Rev. Bonds (Ascent Classical Academy Charter Schools, Inc. <br> Project), Series 2024, 5.80% 4/1/2054 <sup>(a)</sup>  | 560 | 553 |
| Educational and Cultural Facs. Auth., Charter School Rev. Bonds (Ascent Classical Academy Charter Schools, Inc. <br> Project), Series 2024, 5.75% 4/1/2059 <sup>(a)</sup>  | 600 | 585 |
| Educational and Cultural Facs. Auth., Charter School Rev. Bonds (Aspen View Academy Project), Series 2021, 4.00% <br> 5/1/2041  | 10 | 9 |
| Educational and Cultural Facs. Auth., Charter School Rev. Bonds (Aspen View Academy Project), Series 2021, 4.00% <br> 5/1/2051  | 35 | 29 |
| Educational and Cultural Facs. Auth., Charter School Rev. Bonds (Aspen View Academy Project), Series 2021, 4.00% <br> 5/1/2061  | 160 | 126 |
| County of Elbert, Elbert and Highway 86 Commercial Metropolitan Dist., Special Rev. and Tax Supported Rev. Ref. and <br> Improvement Bonds, Series 2021-A, 5.00% 12/1/2041 <sup>(a)</sup>  | 565 | 569 |
| County of Elbert, Independence Metropolitan Dist. No. 3, Limited Tax GO and Special Rev. Ref. and Improvement <br> Bonds, Series 2024-A, 5.375% 12/1/2054  | 6323 | 6330 |
| Ellston Park Metropolitan Dist., Limited Tax GO Bonds, Series 2025-A, 6.00% 12/1/2055 <sup>(a)</sup>  | 500 | 498 |
| Town of Erie, Four Corners Business Improvement Dist., Limited Tax Rev. Bond, Series 2022, 6.00% 12/1/2052  | 500 | 505 |
| Town of Erie, Westerly Metropolitan Dist. No. 4, Limited Tax GO Bonds, Series 2021-A-1, 5.00% 12/1/2050  | 2710 | 2579 |
| Green Valley Ranch East Metropolitan Dist. No. 6, Limited Tax GO Bonds, Series 2020-A, 5.875% 12/1/2050  | 1775 | 1798 |
| Green Valley Ranch East Metropolitan Dist. No. 9, Limited Tax GO Bonds, Series 2025-A, CAB, 0% 12/15/2055 (6.50% <br> on 12/1/2029) <sup>(d)</sup>  | 750 | 588 |
| City of Greenwood Village, Fiddler's Business Improvement Dist., GO Rev. Ref. Bonds, Series 2022, 5.55% <br>12/1/2047 <sup>(a)</sup>  | 525 | 533 |
| Health Facs. Auth., Health Facs. Rev. and Rev. Ref. Bonds (Evangelical Lutheran Good Samaritan Society Project), Series <br> 2017, 5.00% 6/1/2047 (preref. 6/1/2027)  | 220 | 227 |
| Health Facs. Auth., Hospital Rev. Bonds (AdventHealth Obligated Group), Series 2021-A, 3.00% 11/15/2051  | 815 | 591 |
| Health Facs. Auth., Rev. Bonds (Covenant Living Communities and Services), Series 2020-A, 4.00% 12/1/2050  | 4465 | 3757 |
| Health Facs. Auth., Rev. Bonds (Covenant Living Communities and Services), Series 2025-A, 5.125% 12/1/2055  | 485 | 479 |
| Health Facs. Auth., Rev. Bonds (Covenant Retirement Communities, Inc.), Series 2018, 5.00% 12/1/2048  | 335 | 332 |
| Health Facs. Auth., Rev. Bonds (Frasier), Series 2025-A, 5.00% 5/15/2040  | 155 | 162 |
| Health Facs. Auth., Rev. Bonds (Frasier), Series 2025-A, 5.25% 5/15/2048  | 675 | 682 |
| Health Facs. Auth., Rev. Ref. and Improvement Bonds (Bethesda Project), Series 2018-A-1, 4.25% 9/1/2038  | 15 | 14 |
| Health Facs. Auth., Rev. Ref. and Improvement Bonds (Bethesda Project), Series 2018-A-1, 5.00% 9/15/2048  | 1250 | 1151 |
| Health Facs. Auth., Rev. Ref. and Improvement Bonds (Christian Living Neighborhoods Project), Series 2019, 4.00% <br> 1/1/2038  | 310 | 295 |
| Health Facs. Auth., Rev. Ref. and Improvement Bonds (Christian Living Neighborhoods Project), Series 2019, 5.00% <br> 1/1/2038  | 1760 | 1783 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **123** | Capital Group Fixed Income ETF Trust |

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------

Capital Group Municipal High-Income ETF (continued)

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| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Colorado (continued)** | **Colorado (continued)** | **Colorado (continued)** |
| Health Facs. Auth., Rev. Ref. and Improvement Bonds (Christian Living Neighborhoods Project), Series 2021, 4.00% <br> 1/1/2042  | USD<br> 445<br>| $400 |
| Health Facs. Auth., Rev. Ref. and Improvement Bonds (Frasier Meadows Retirement Community Project), Series <br> 2017-A, 5.25% 5/15/2031  | 265 | 271 |
| Health Facs. Auth., Rev. Ref. and Improvement Bonds (Frasier Meadows Retirement Community Project), Series <br> 2017-A, 5.25% 5/15/2032  | 115 | 118 |
| Health Facs. Auth., Rev. Ref. and Improvement Bonds (Frasier Meadows Retirement Community Project), Series <br> 2017-A, 5.25% 5/15/2037  | 255 | 259 |
| Health Facs. Auth., Rev. Ref. and Improvement Bonds (Frasier Meadows Retirement Community Project), Series <br> 2017-A, 5.25% 5/15/2047  | 190 | 190 |
| Health Facs. Auth., Rev. Ref. Bonds (Christian Living Neighborhoods Project), Series 2021, 4.00% 1/1/2029  | 255 | 254 |
| Health Facs. Auth., Rev. Ref. Bonds (Christian Living Neighborhoods Project), Series 2016, 5.00% 1/1/2031  | 500 | 500 |
| Health Facs. Auth., Rev. Ref. Bonds (Christian Living Neighborhoods Project), Series 2016, 5.00% 1/1/2037  | 815 | 815 |
| Health Facs. Auth., Rev. Ref. Bonds (Covenant Retirement Communities, Inc.), Series 2018-A, 5.00% 12/1/2043  | 1000 | 1007 |
| Health Facs. Auth., Rev. Ref. Bonds (Frasier Project), Series 2023-A, 4.00% 5/15/2041  | 290 | 272 |
| Health Facs. Auth., Rev. Ref. Bonds (Frasier Project), Series 2023-A, 4.00% 5/15/2048  | 675 | 572 |
| Hess Ranch Metropolitan Dist. No. 6, Limited Tax GO Bonds, Series 2020-A-1, 5.00% 12/1/2049  | 4500 | 4365 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2019-F, Class I, 4.25% 11/1/2049  | 130 | 131 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2023-O, Class III, 6.50% 5/1/2054  | 75 | 84 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2025-B, Class I, 5.75% 11/1/2054  | 2825 | 3118 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2025-J, Class III, 6.25% 5/1/2055  | 330 | 371 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2025-M, Class I, 6.25% 11/1/2055  | 1270 | 1421 |
| City and County of Jefferson, Dinosaur Ridge Metropolitan Dist., Special Rev. Ref. and Improvement Bonds, Series <br> 2019, 5.00% 6/1/2049  | 882 | 849 |
| County of Jefferson, Hogback Metropolitan Dist., Limited Tax GO Bonds (Convertible to Unlimited Tax), Series <br> 2021-A-3, 5.00% 12/1/2051  | 800 | 749 |
| Town of Johnstown, Granary Metropolitan Dist. No. 4, Limited Tax GO Bonds, Series 2022, 6.75% 12/1/2051 <sup>(e)</sup>  | 1000 | 998 |
| Town of Johnstown, Granary Metropolitan Dist. No. 9, Special Improvement Dist. No. 1, Special Assessment Rev. <br> Bonds, Series 2024, 5.45% 12/1/2044 <sup>(a)</sup>  | 1038 | 1044 |
| Town of Johnstown, Thompson Crossing Metropolitan Dist. No. 4, Limited Tax GO Rev. Ref. and Improvement Bonds <br> (Convertible to Unlimited Tax), Series 2019, 5.00% 12/1/2039  | 500 | 503 |
| Town of Johnstown, Thompson Crossing Metropolitan Dist. No. 4, Limited Tax GO Rev. Ref. and Improvement Bonds <br> (Convertible to Unlimited Tax), Series 2019, 5.00% 12/1/2049  | 1314 | 1262 |
| Kinston Metropolitan Dist. No. 5, Limited Tax GO Rev. Ref. and Improvement Bonds, Series 2025-B, 5.75% <br>12/1/2055 <sup>(a)</sup>  | 3500 | 3541 |
| Kinston Metropolitan Dist. No. 5, Limited Tax GO Rev. Ref. and Improvement Bonds, Series 2025-B, 8.25% <br>12/15/2055 <sup>(a)(e)</sup>  | 1000 | 983 |
| County of La Plata, Three Sprints Metropolitan Dist. No. 1, Limited Tax GO Rev. Ref. Bonds, Series 2020-B, 7.125% <br> 12/15/2050 <sup>(e)</sup>  | 1000 | 997 |
| Lafferty Canyon Metropolitan Dist. Limited Tax GO Bonds, Series 2025-B, 5.625% 12/1/2055  | 500 | 503 |
| City of Littleton, Mineral Business Improvement Dist., Limited Tax GO and Special Rev. Bonds, Series 2024-A, 5.75% <br> 12/1/2054 <sup>(a)</sup>  | 640 | 644 |
| Town of Lochbuie, Silver Peaks Metropolitan Dist. No. 3, GO Senior Bonds, Series 2020-A, 5.00% 12/1/2050  | 500 | 477 |
| City of Lone Tree, Rampart Range Metropolitan Dist. No. 5, Limited Tax Supported and Special Rev. Bonds, Series <br> 2021, 4.00% 12/1/2036  | 500 | 477 |
| City of Lone Tree, Rampart Range Metropolitan Dist. No. 5, Limited Tax Supported and Special Rev. Bonds, Series <br> 2021, 4.00% 12/1/2041  | 2356 | 2102 |
| City of Lone Tree, Rampart Range Metropolitan Dist. No. 5, Limited Tax Supported and Special Rev. Bonds, Series <br> 2021, 4.00% 12/1/2051  | 8167 | 6567 |
| City of Loveland, Centerra Metropolitan Dist. No. 1, Rev. Ref. and Improvement Bonds, Series 2020-A, 5.00% <br> 12/1/2051  | 500 | 488 |
| Mead Place Metropolitan Dist. No. 4, Limited Tax GO Bonds, CAB, Series 2024, 0% 12/1/2054 (8.00% on <br>6/1/2029) <sup>(a)(d)</sup>  | 2407 | 1806 |
| Mesa County Valley School Dist. No. 51 (Grand Junction), GO Bonds, Series 2025, 5.25% 12/1/2049  | 1090 | 1171 |
| North Range Metropolitan Dist. No. 3, Limited Tax GO Bonds, Series 2020-A-3, 5.25% 12/1/2050  | 500 | 502 |
| Town of Parker, Belford North Metropolitan Dist., GO Limited Tax Bonds, Series 2020-A, 5.50% 12/1/2050  | 696 | 629 |
| Plaza Metropolitan Dist. No. 1, Rev. Ref. Bonds, Series 2013, 5.00% 12/1/2040 <sup>(a)</sup>  | 2000 | 2001 |
| Public Auth. for Colorado Energy, Natural Gas Purchase Rev. Bonds, Series 2008, 6.25% 11/15/2028  | 145 | 153 |
| Public Auth. for Colorado Energy, Natural Gas Purchase Rev. Bonds, Series 2008, 6.50% 11/15/2038  | 100 | 121 |
| Regional Transportation Dist., Private Activity Bonds (Denver Transit Partners Eagle P3 Project), Series 2020-B, 4.00% <br> 7/15/2034  | 110 | 112 |
| Town of Severance, Hunters Overlook Metropolitan Dist. No. 5, Limited Tax GO Rev. Ref. Bonds, Series 2024, 4.25% <br> 12/1/2054  | 150 | 145 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **124** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Colorado (continued)** | **Colorado (continued)** | **Colorado (continued)** |
| Sterling Ranch Community Auth. Board Dist. No. 2, Limited Tax Bonds, Series 2025-B, 6.875% 12/15/2055 <sup>(e)</sup>  | USD<br> 565<br>| $568 |
| Sterling Ranch Community Auth. Board, Special Improvement Dist. No. 1, Special Assessment Rev. Bonds, Series 2024, <br> 5.625% 12/1/2043  | 654 | 670 |
| Town of Superior, STC Metropolitan Dist. No. 2, Limited Tax GO and Special Rev. Ref. Bonds, Series 2025-A-2, 6.25% <br> 12/1/2055 <sup>(a)</sup>  | 884 | 890 |
| Talon Pointe Metropolitan Dist., GO Rev. Ref. and Improvement Bonds, Series 2019-A, 5.25% 12/1/2051 <sup>(e)</sup>  | 1472 | 1042 |
| Timnath Lakes Metropolitan Dist. No. 1, GO Limited Tax Bonds, Series 2022-B, 6.375% 12/15/2052 <sup>(e)</sup>  | 500 | 497 |
| Timnath Lakes Metropolitan Dist. No. 3, GO Limited Tax Bonds, Series 2022-B, 6.00% 12/15/2052 <sup>(e)</sup>  | 650 | 602 |
| Timnath Lakes Metropolitan Dist. No. 3, GO Limited Tax Bonds, Convertible CAB, Series 2022-A, 4.00% 12/1/2052  | 2500 | 2032 |
| Tree Farm Metropolitan Dist., GO Limited Tax Bonds, Series 2021, 4.50% 12/1/2041 <sup>(a)</sup>  | 500 | 456 |
| Vail Home Partners Corp., Housing Facs. Rev. Bonds, Series 2025, 5.875% 10/1/2055 <sup>(a)</sup>  | 145 | 148 |
| Vail Home Partners Corp., Housing Facs. Rev. Bonds, Series 2025, 6.00% 10/1/2064 <sup>(a)</sup>  | 265 | 271 |
| Water Valley Metropolitan Dist. No. 2, GO Rev. Ref. Bonds, Series 2016, 5.25% 12/1/2040  | 220 | 220 |
| County of Weld, Tri-Pointe Residential Metropolitan Dist., Limited Tax GO Rev. Ref. Bonds, Series 2021, 4.50% <br> 12/1/2051  | 3215 | 2616 |
| County of Weld, Waterfront at Foster Lake Metropolitan Dist. No. 2, Limited Tax GO Bonds, Series 2022-A-3-1, 5.00% <br> 12/1/2051  | 1535 | 1225 |
| County of Weld, Waterfront at Foster Lake Metropolitan Dist. No. 2, Limited Tax GO Bonds, Convertible CAB, Series <br> 2022-A-3-2, 0% 12/1/2051 (4.625% on 12/1/2027) <sup>(d)</sup>  | 740 | 541 |
| City of Wheat Ridge, Legacy Community Auth., Limited Tax Rev. Bonds, Series 2025-A, 6.75% 12/1/2055  | 2250 | 2279 |
| City of Wheat Ridge, Longs Peak Metropolitan Dist., Limited Tax GO Bonds, Series 2021, 5.25% 12/1/2051 <sup>(a)(e)</sup>  | 500 | 489 |
| Town of Windsor, Great Western Metropolitan Dist. No. 5, Limited Tax GO Rev. Ref. Bonds, Series 2020, 4.75% <br> 12/1/2050  | 1091 | 964 |
| Town of Windsor, Jacoby Farm Metropolitan Dist., Limited Tax GO Rev. Ref. Bonds, Series 2021, 5.00% <br>12/15/2046 <sup>(a)(e)</sup>  | 500 | 458 |
| Town of Windsor, Ptarmigan West Metropolitan Dist. No. 2, Limited Tax GO Bonds, Series 2021, 4.125% 12/1/2051  | 600 | 431 |
|  |  | 174911 |
| **Connecticut 0.84%** | **Connecticut 0.84%** | **Connecticut 0.84%** |
| City of Bridgeport, Steel Point Infrastructure Improvement Dist., Special Obligation Rev. Bonds (Steelpointe Harbor <br> Project), Series 2024, 5.625% 4/1/2044 <sup>(a)</sup>  | 210 | 220 |
| City of Bridgeport, Steel Point Infrastructure Improvement Dist., Special Obligation Rev. Bonds (Steelpointe Harbor <br> Project), Series 2021, 4.00% 4/1/2051 <sup>(a)</sup>  | 1110 | 950 |
| City of Bridgeport, Steel Point Infrastructure Improvement Dist., Special Obligation Rev. Bonds (Steelpointe Harbor <br> Project), Series 2024, 6.00% 4/1/2052 <sup>(a)</sup>  | 620 | 660 |
| Health and Educational Facs. Auth., Rev. Bonds (Hartford Healthcare Issue), Series 2014-E, 5.00% 7/1/2042  | 200 | 200 |
| Health and Educational Facs. Auth., Rev. Bonds (Healthcare Fac. Expansion Issue - Church Home of Hartford, Inc. <br> Project), Series 2016-A, 5.00% 9/1/2053 <sup>(a)</sup>  | 180 | 167 |
| Health and Educational Facs. Auth., Rev. Bonds (McLean Affiliates, Inc.), Series 2020-A, 5.00% 1/1/2045 <sup>(a)</sup>  | 160 | 142 |
| Health and Educational Facs. Auth., Rev. Bonds (Sacred Heart University Issue), Series 2020-K, 4.00% 7/1/2045  | 220 | 204 |
| Health and Educational Facs. Auth., Rev. Bonds (Sacred Heart University Issue), Series 2022-L, 5.00% 7/1/2052  | 350 | 358 |
| Health and Educational Facs. Auth., Rev. Bonds (Stamford Hospital Issue), Series 2022-M, 4.00% 7/1/2039  | 1525 | 1520 |
| Health and Educational Facs. Auth., Rev. Bonds (Stamford Hospital Issue), Series 2022-M, 4.00% 7/1/2040  | 50 | 49 |
| Health and Educational Facs. Auth., Rev. Bonds (Stamford Hospital Issue), Series 2022-M, 4.00% 7/1/2042  | 330 | 312 |
| Health and Educational Facs. Auth., Rev. Bonds (The Jerome Home Issue), Series 2021-E, 4.00% 7/1/2041  | 135 | 123 |
| Health and Educational Facs. Auth., Rev. Bonds (The Jerome Home Issue), Series 2021-E, 4.00% 7/1/2051  | 170 | 134 |
| Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2016-A-1, 1.90% 7/1/2042 <sup>(b)</sup>  | 1500 | 1500 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2021-B, AMT, 5.00% <br> 11/15/2026  | 30 | 30 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2021-B, AMT, 5.00% <br> 11/15/2027  | 15 | 15 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2021-B, AMT, 5.00% <br> 11/15/2028  | 25 | 26 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2021-B, AMT, 5.00% <br> 11/15/2029  | 60 | 63 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2023-B, AMT, 4.00% <br> 11/15/2035  | 80 | 80 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2020-B, AMT, 3.25% <br> 11/15/2036  | 155 | 145 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2023-B, AMT, 4.00% <br> 11/15/2036  | 25 | 25 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **125** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Connecticut (continued)** | **Connecticut (continued)** | **Connecticut (continued)** |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2021-B, AMT, 2.25% <br> 11/15/2037  | USD<br> 260<br>| $214 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2023-B, AMT, 4.125% <br> 11/15/2037  | 95 | 95 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2025-B-1, AMT, 4.75% <br> 11/15/2037  | 100 | 103 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2024-B, AMT, 4.125% <br> 11/15/2040  | 125 | 124 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2018-A-2, AMT, 4.00% 11/15/2041  | 25 | 25 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2022-A-1, 3.50% 11/15/2051  | 80 | 80 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2023-B, 5.75% 11/15/2053  | 140 | 150 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2024-A, 6.00% 11/15/2054  | 85 | 92 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2024-C-1, 6.00% 11/15/2054  | 60 | 66 |
| Mohegan Tribe of Indians, Gaming Auth., Priority Distribution Payment Bonds, Series 2016-A, 5.50% 8/1/2026 <sup>(a)</sup>  | 115 | 115 |
| Mohegan Tribe of Indians, Gaming Auth., Priority Distribution Payment Rev. Ref. Bonds, Series 2015-C, 6.25% <br>2/1/2030 <sup>(a)</sup>  | 1695 | 1697 |
| Mohegan Tribe of Indians, Gaming Auth., Priority Distribution Payment Rev. Ref. Bonds, Series 2020-B, 6.50% <br>8/1/2035 <sup>(a)</sup>  | 1380 | 1430 |
| Mohegan Tribe of Indians, Gaming Auth., Priority Distribution Payment Rev. Ref. Bonds, Series 2015-A, 6.75% <br>2/1/2045 <sup>(a)</sup>  | 3000 | 3024 |
| City of Stamford, Harbor Point Infrastructure Improvement Dist., Special Obligation Rev. Ref. Bonds (Harbor Point <br> Project), Series 2017, 5.00% 4/1/2030 <sup>(a)</sup>  | 235 | 238 |
| City of Stamford, Harbor Point Infrastructure Improvement Dist., Special Obligation Rev. Ref. Bonds (Harbor Point <br> Project), Series 2017, 5.00% 4/1/2039 <sup>(a)</sup>  | 2835 | 2874 |
| City of Stamford, Housing Auth. Rev Bonds (Mozaic Concierge Living Project), Series 2025-C, 4.75% 10/1/2032  | 360 | 372 |
| City of Stamford, Housing Auth. Rev Bonds (Mozaic Concierge Living Project), Series 2025-B, 5.375% 10/1/2033  | 2620 | 2656 |
| City of Stamford, Housing Auth. Rev Bonds (Mozaic Concierge Living Project), Series 2025-A, 6.00% 10/1/2040  | 115 | 121 |
| City of Stamford, Housing Auth. Rev Bonds (Mozaic Concierge Living Project), Series 2025-A, 6.375% 10/1/2045  | 185 | 190 |
| City of Stamford, Housing Auth. Rev Bonds (Mozaic Concierge Living Project), Series 2025-A, 6.50% 10/1/2055  | 120 | 122 |
| City of Stamford, Housing Auth. Rev Bonds (Mozaic Concierge Living Project), Series 2025-A, 6.25% 10/1/2060  | 115 | 115 |
|  |  | 20826 |
| **Delaware 0.04%** | **Delaware 0.04%** | **Delaware 0.04%** |
| Econ. Dev. Auth., Retirement Communities Rev. Bonds (ACTS Retirement-Life Communities, Inc. Obligated Group), <br> Series 2018-B, 5.00% 11/15/2048  | 145 | 145 |
| Housing Auth., Single Family Mortgage Rev. Bonds, Series 2024-B, 6.00% 1/1/2055  | 830 | 911 |
|  |  | 1056 |
| **District of Columbia 0.17%** | **District of Columbia 0.17%** | **District of Columbia 0.17%** |
| Income Tax Secured Rev. Bonds, Series 2020-A, 3.00% 3/1/2041  | 340 | 302 |
| Income Tax Secured Rev. Ref. Bonds, Series 2025-A, 5.00% 6/1/2050  | 195 | 204 |
| Metropolitan Area Transit Auth., Dedicated Rev. Bonds, Series 2025-A, 5.25% 7/15/2055  | 695 | 732 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. and Rev. Ref. Bonds, Series 2025-A, AMT, 5.00% <br> 10/1/2050  | 550 | 564 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2024-A, AMT, 5.25% 10/1/2041  | 155 | 168 |
| Metropolitan Washington DC Airports Auth., Dulles Toll Road Rev. Ref. Bonds (Dulles Metrorail and Capital <br> Improvement Projects), Series 2019-B, 4.00% 10/1/2053  | 890 | 771 |
| Rev. Bonds (DC International School Issue), Series 2019, 5.00% 7/1/2039  | 110 | 113 |
| Rev. Bonds (DC International School Issue), Series 2019, 5.00% 7/1/2049  | 100 | 99 |
| Rev. Bonds (Friendship Public Charter School, Inc. Issue), Series 2016-A, 5.00% 6/1/2036  | 145 | 146 |
| Rev. Bonds (Friendship Public Charter School, Inc. Issue), Series 2016-A, 5.00% 6/1/2041  | 390 | 390 |
| Rev. Bonds (Friendship Public Charter School, Inc. Issue), Series 2016-A, 5.00% 6/1/2046  | 375 | 368 |
| Rev. Ref. Bonds (KIPP DC Issue), Series 2017-B, 5.00% 7/1/2048  | 470 | 470 |
|  |  | 4327 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **126** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Florida 6.00%** | **Florida 6.00%** | **Florida 6.00%** |
| County of Alachua, Health Facs. Auth., Continuing Care Retirement Community Rev. Bonds (Oak Hammock at the <br> University of Florida, Inc. Project), Series 2021, 4.00% 10/1/2040  | USD<br> 225<br>| $214 |
| County of Alachua, Health Facs. Auth., Continuing Care Retirement Community Rev. Bonds (Oak Hammock at the <br> University of Florida, Inc. Project), Series 2022, 4.00% 10/1/2040  | 115 | 109 |
| County of Alachua, Health Facs. Auth., Continuing Care Retirement Community Rev. Bonds (Oak Hammock at the <br> University of Florida, Inc. Project), Series 2021, 4.00% 10/1/2046  | 180 | 152 |
| County of Alachua, Health Facs. Auth., Continuing Care Retirement Community Rev. Bonds (Oak Hammock at the <br> University of Florida, Inc. Project), Series 2022, 4.00% 10/1/2046  | 195 | 164 |
| County of Alachua, Health Facs. Auth., Health Facs. Rev. Ref. Bonds, Series 2019-A, 4.00% 12/1/2049  | 310 | 274 |
| County of Alachua, Parker Road Community Dev. Dist., Capital Improvement Rev. Ref. and Rev. Bonds, Series 2020, <br> 3.875% 5/1/2040  | 265 | 237 |
| City of Atlantic Beach, Health Care Facs. Rev. Bonds (Fleet Landing Project), Series 2018-A, 5.00% 11/15/2043  | 240 | 241 |
| City of Atlantic Beach, Health Care Facs. Rev. Bonds (Fleet Landing Project), Series 2018-A, 5.00% 11/15/2048  | 785 | 766 |
| City of Atlantic Beach, Health Care Facs. Rev. Bonds (Fleet Landing Project), Series 2018-A, 5.00% 11/15/2053  | 610 | 583 |
| City of Atlantic Beach, Health Care Facs. Rev. Ref. Bonds (Fleet Landing Project), Series 2013-A, 5.00% 11/15/2037  | 355 | 355 |
| Balm Grove Community Dev. Dist., Special Assessment Bonds (Series 2022 Project), Series 2022, 4.00% 11/1/2042  | 1975 | 1804 |
| Balm Grove Community Dev. Dist., Special Assessment Bonds (Series 2022 Project), Series 2022, 4.125% 11/1/2051  | 1000 | 840 |
| Braddock Lakes Community Dev. Dist., Capital Improvement Rev. Bonds, Series 2025, 5.55% 5/1/2045  | 1125 | 1127 |
| County of Broward, Airport System Rev. Bonds, Series 2019-A, AMT, 4.00% 10/1/2044  | 260 | 242 |
| Capital Projects Fin. Auth., Student Housing Rev. Ref. Bonds (Capital Projects Loan Program - Florida Universities), <br> Series 2020-A-1, 5.00% 10/1/2033  | 165 | 174 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (AcadeMir Charter Schools, Inc. Project), Series 2021-A-2, 4.00% <br> 7/1/2051 <sup>(a)</sup>  | 205 | 157 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (AcadeMir Charter Schools, Inc. Project), Series 2021-A-2, 4.00% <br> 7/1/2056 <sup>(a)</sup>  | 170 | 128 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Charter Educational Foundation, Inc.), Series 2018-A, 5.375% <br> 6/15/2038 <sup>(a)</sup>  | 120 | 120 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Imagine School at Land O' Lakes Project), Series 2020-A, 5.00% <br> 12/15/2039 <sup>(a)</sup>  | 140 | 132 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Imagine School at North Manatee Project), Series 2021-C, 5.00% <br> 6/1/2056 <sup>(a)</sup>  | 125 | 105 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Odyssey Charter School), Series 2019, 5.00% 7/1/2049 <sup>(a)</sup>  | 200 | 185 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Odyssey Charter School), Series 2019, 5.00% 7/1/2054 <sup>(a)</sup>  | 505 | 461 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Renaissance Charter School), Series 2017-A, 5.125% 6/15/2037 <sup>(a)</sup>  | 600 | 601 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Renaissance Charter School), Series 2017-A, 5.25% 6/15/2047 <sup>(a)</sup>  | 1100 | 1028 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Viera Charter Schools, Inc. Project), Series 2017-A, 5.00% <br> 10/15/2037 <sup>(a)</sup>  | 165 | 165 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Viera Charter Schools, Inc. Project), Series 2019-A, 5.00% <br> 10/15/2039 <sup>(a)</sup>  | 130 | 130 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Viera Charter Schools, Inc. Project), Series 2017-A, 5.00% <br> 10/15/2047 <sup>(a)</sup>  | 340 | 319 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Viera Charter Schools, Inc. Project), Series 2019-A, 5.00% <br> 10/15/2049 <sup>(a)</sup>  | 360 | 334 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Viera Charter Schools, Inc. Project), Series 2017-A, 5.00% <br> 10/15/2052 <sup>(a)</sup>  | 195 | 178 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Viera Charter Schools, Inc. Project), Series 2019-A, 5.00% <br> 10/15/2054 <sup>(a)</sup>  | 485 | 440 |
| Capital Trust Agcy., Rev. Bonds (Educational Growth Fund, LLC Charter School Portfolio Projects), Series 2021-A-1, <br> 5.00% 7/1/2056 <sup>(a)</sup>  | 6935 | 5998 |
| Capital Trust Agcy., Rev. Bonds (Educational Growth Fund, LLC Charter School Portfolio Projects), CAB, Series 2021-B, <br> 0% 7/1/2061 <sup>(a)</sup>  | 22315 | 1897 |
| Capital Trust Agcy., Rev. Bonds (WFCS Portfolio Projects), Series 2021-A-1, 5.00% 1/1/2056 <sup>(a)</sup>  | 615 | 518 |
| Capital Trust Agcy., Senior Rev. Bonds (Educational Growth Fund, LLC Charter School Portfolio Projects), Series <br> 2021-A-1, 3.375% 7/1/2031 <sup>(a)</sup>  | 520 | 502 |
| Capital Trust Auth., Charter School Rev. Bonds (Mason Classical Academy Project), Series 2024-A, 5.00% 6/1/2044 <sup>(a)</sup>  | 175 | 165 |
| Capital Trust Auth., Charter School Rev. Bonds (Mason Classical Academy Project), Series 2024-A, 5.00% 6/1/2064 <sup>(a)</sup>  | 425 | 370 |
| Capital Trust Auth., Educational Facs. Rev. and Rev. Ref. Bonds (IPS Enterprises, Inc. Projects), Series 2023-A, 6.00% <br> 6/15/2043 <sup>(a)</sup>  | 140 | 144 |
| Capital Trust Auth., Educational Facs. Rev. and Rev. Ref. Bonds (IPS Enterprises, Inc. Projects), Series 2023-A, 6.25% <br> 6/15/2053 <sup>(a)</sup>  | 390 | 396 |
| Capital Trust Auth., Educational Facs. Rev. and Rev. Ref. Bonds (IPS Enterprises, Inc. Projects), Series 2023-A, 6.375% <br> 6/15/2058 <sup>(a)</sup>  | 1435 | 1463 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **127** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Florida (continued)** | **Florida (continued)** | **Florida (continued)** |
| Capital Trust Auth., Educational Facs. Rev. and Rev. Ref. Bonds (Plato Academy Schools Project), Series 2024-A, 5.00% <br> 12/15/2044  | USD<br> 325<br>| $311 |
| Capital Trust Auth., Educational Facs. Rev. and Rev. Ref. Bonds (Plato Academy Schools Project), Series 2024-A, 5.125% <br> 12/15/2054  | 870 | 793 |
| Capital Trust Auth., Educational Facs. Rev. and Rev. Ref. Bonds (Plato Academy Schools Project), Series 2024-A, 5.125% <br> 12/15/2059  | 830 | 745 |
| Capital Trust Auth., Educational Facs. Rev. Bonds (Imagine School at West Pasco Project), Series 2023-A, 6.50% <br> 12/15/2053 <sup>(a)</sup>  | 145 | 140 |
| Capital Trust Auth., Educational Facs. Rev. Bonds (Imagine School at West Pasco Project), Series 2023-A, 6.50% <br> 12/15/2058 <sup>(a)</sup>  | 190 | 182 |
| Counties of Charlotte and Lee, Babcock Ranch Community Independent Special Dist., Special Assessment Rev. Bonds, <br> Series 2024, 4.30% 5/1/2031 <sup>(a)</sup>  | 75 | 76 |
| Counties of Charlotte and Lee, Babcock Ranch Community Independent Special Dist., Special Assessment Rev. Bonds, <br> Series 2024, 5.00% 5/1/2044 <sup>(a)</sup>  | 350 | 351 |
| Counties of Charlotte and Lee, Babcock Ranch Community Independent Special Dist., Special Assessment Rev. Bonds, <br> Series 2024, 5.25% 5/1/2055 <sup>(a)</sup>  | 725 | 722 |
| County of Clay, Sandridge Community Dev. Dist., Special Assessment Rev. Bonds, Series 2021-A-1, 3.875% 5/1/2041  | 65 | 61 |
| County of Collier, Ave Maria Stewardship Community Dist., Capital Improvement Rev. Bonds (Ave Maria National <br> Project), Series 2021, 4.00% 5/1/2051  | 1000 | 814 |
| County of Collier, Ave Maria Stewardship Community Dist., Capital Improvement Rev. Bonds (Phase 3 Master <br> Improvements Project), Series 2019, 2.25% 5/1/2026  | 25 | 25 |
| County of Collier, Ave Maria Stewardship Community Dist., Capital Improvement Rev. Bonds (Phase 5 Master <br> Improvements Project), Series 2025, 5.60% 6/1/2056  | 655 | 652 |
| County of Collier, Health Facs. Auth., Residential Care Fac. Rev. Bonds (Moorings, Inc.), Series 2015-A, 5.00% 5/1/2045  | 215 | 215 |
| County of Collier, Health Facs. Auth., Residential Care Fac. Rev. Bonds (Moorings, Inc.), Series 2015-A, 5.00% 5/1/2048  | 355 | 353 |
| County of Collier, Health Facs. Auth., Residential Care Fac. Rev. Bonds (Moorings, Inc.), Series 2022, 4.00% 5/1/2052  | 250 | 211 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Cornerstone Charter Academy Project), Series 2022, 5.00% 10/1/2042 <sup>(a)</sup>  | 100 | 98 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Cornerstone Charter Academy Project), Series 2022, 5.125% <br>10/1/2052 <sup>(a)</sup>  | 450 | 416 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Cornerstone Charter Academy Project), Series 2022, 5.25% 10/1/2056 <sup>(a)</sup>  | 230 | 214 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Cornerstone Classical Academy), Series 2024-A, 5.50% 6/1/2059 <sup>(a)</sup>  | 335 | 323 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Creative Inspiration Journey School of St. Cloud), Series 2021-A, 5.00% <br> 6/15/2041 <sup>(a)</sup>  | 150 | 140 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Creative Inspiration Journey School of St. Cloud), Series 2021-A, 5.00% <br> 6/15/2051 <sup>(a)</sup>  | 120 | 103 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Mater Academy Projects), Series 2022-A, 5.00% 6/15/2033  | 85 | 86 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Mater Academy Projects), Series 2020-A, 5.00% 6/15/2035  | 675 | 684 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Mater Academy Projects), Series 2022-A, 4.00% 6/15/2042  | 110 | 99 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Mater Academy Projects), Series 2022-A, 5.00% 6/15/2042  | 220 | 220 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Mater Academy Projects), Series 2022-A, 5.00% 6/15/2047  | 320 | 310 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Mater Academy Projects), Series 2020-A, 5.00% 6/15/2050  | 125 | 119 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Mater Academy Projects), Series 2022-A, 4.00% 6/15/2052  | 265 | 217 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Mater Academy Projects), Series 2022-A, 5.00% 6/15/2052  | 640 | 607 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Mater Academy Projects), Series 2020-A, 5.00% 6/15/2055  | 500 | 471 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Mater Academy Projects), Series 2022-A, 5.00% 6/15/2056  | 1120 | 1054 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Renaissance Charter School, Inc. Projects), Series 2023-A, 6.75% <br> 6/15/2053 <sup>(a)</sup>  | 620 | 651 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (River City Science Academy Projects), Series 2021-A, 4.00% 7/1/2055  | 120 | 94 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (Renaissance Charter School, Inc.), Series 2020-C, 4.00% 9/15/2030 <sup>(a)</sup>  | 185 | 181 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (Renaissance Charter School, Inc.), Series 2020-C, 5.00% 9/15/2040 <sup>(a)</sup>  | 560 | 541 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (Renaissance Charter School, Inc.), Series 2020-C, 5.00% 9/15/2050 <sup>(a)</sup>  | 450 | 393 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (Renaissance Charter School, Inc.), Series 2025, 6.00% 6/15/2055 <sup>(a)</sup>  | 250 | 254 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (UF Health - Jacksonville Project), Series 2022-A, 5.00% 2/1/2035  | 260 | 277 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (UF Health - Jacksonville Project), Series 2022-A, 5.00% 2/1/2038  | 505 | 530 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (UF Health - Jacksonville Project), Series 2022-A, 4.00% 2/1/2052  | 1180 | 971 |
| Dev. Fin. Corp., Rev. Bonds (Brightline Florida Passenger Rail Expansion Project), Series 2024, AGI, AMT, 5.25% <br> 7/1/2053  | 315 | 310 |
| Dev. Fin. Corp., Rev. Bonds (Brightline Florida Passenger Rail Expansion Project), Series 2024, AMT, 5.50% 7/1/2053  | 1425 | 1069 |
| Dev. Fin. Corp., Rev. Bonds (Brightline Florida Passenger Rail Project), Series 2024, AMT, 5.25% 7/1/2047  | 1250 | 938 |
| Dev. Fin. Corp., Senior Living Rev. Bonds (Mayflower Retirement Community Center, Inc.), Series 2020-A, 5.25% <br> 6/1/2050 <sup>(a)</sup>  | 220 | 208 |
| Dev. Fin. Corp., Senior Living Rev. Bonds (Mayflower Retirement Community Center, Inc.), Series 2020-A, 5.25% <br> 6/1/2055 <sup>(a)</sup>  | 220 | 204 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **128** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Florida (continued)** | **Florida (continued)** | **Florida (continued)** |
| Dev. Fin. Corp., Senior Living Rev. Bonds (Mayflower Retirement Community Project), Series 2021-A, 4.00% <br>6/1/2036 <sup>(a)</sup>  | USD<br> 185<br>| $173 |
| Dev. Fin. Corp., Senior Living Rev. Bonds (Mayflower Retirement Community Project), Series 2021-A, 4.00% <br>6/1/2041 <sup>(a)</sup>  | 150 | 129 |
| Dev. Fin. Corp., Solid Waste Disposal Rev. Bonds (GFL Solid Waste Southeast LLC Project), Series 2024-A, AMT, 4.375% <br> 10/1/2054 (put 10/1/2031) <sup>(a)</sup>  | 5195 | 5259 |
| Dev. Fin. Corp., Solid Waste Disposal Rev. Bonds (Waste Pro USA, Inc. Project), Series 2019, AMT, 5.00% 5/1/2029 <sup>(a)</sup>  | 2230 | 2251 |
| Dev. Fin. Corp., Solid Waste Disposal Rev. Bonds (Waste Pro USA, Inc. Project), Series 2017, AMT, 5.25% 8/1/2029  | 2175 | 2241 |
| Dev. Fin. Corp., Solid Waste Disposal Rev. Bonds (Waste Pro USA, Inc. Project), Series 2021, AMT, 3.00% 6/1/2032  | 8935 | 8249 |
| Dev. Fin. Corp., Solid Waste Disposal Rev. Bonds (Waste Pro USA, Inc. Project), Series 2023, AMT, 6.125% 7/1/2032 <br> (put 7/1/2026) <sup>(a)</sup>  | 555 | 557 |
| Dev. Fin. Corp., Solid Waste Disposal Rev. Bonds (Waste Pro USA, Inc. Project), Series 2025, AMT, 4.45% 7/1/2037 (put <br> 4/2/2030) <sup>(a)</sup>  | 700 | 706 |
| Greater Orlando Aviation Auth., Airport Facs. Rev. Bonds, Series 2019-A, AMT, 5.00% 10/1/2031  | 3000 | 3189 |
| Greater Orlando Aviation Auth., Airport Facs. Rev. Bonds, Series 2022-A, AMT, 4.00% 10/1/2052  | 515 | 450 |
| Greater Orlando Aviation Auth., Special Purpose Airport Facs. Rev. Bonds (United Airlines, Inc. Project), Series 2025, <br> AMT, 5.25% 11/1/2034  | 3500 | 3754 |
| Greater Orlando Aviation Auth., Special Purpose Airport Facs. Rev. Bonds (United Airlines, Inc. Project), Series 2025, <br> AMT, 5.50% 11/1/2036  | 450 | 488 |
| Greater Orlando Aviation Auth., Special Purpose Airport Facs. Rev. Bonds (United Airlines, Inc. Project), Series 2025, <br> AMT, 5.50% 11/1/2037  | 1935 | 2090 |
| City of Haines City, Charles Cove Community Dev. Dist., Special Assessment Rev. Bonds, Series 2020, 4.25% 5/1/2040  | 225 | 225 |
| City of Haines City, Charles Cove Community Dev. Dist., Special Assessment Rev. Bonds, Series 2020, 4.375% <br> 5/1/2050  | 250 | 230 |
| City of Haines City, Charles Cove Community Dev. Dist., Special Assessment Rev. Bonds, Series 2021, 4.00% 5/1/2052  | 160 | 136 |
| Halifax Hospital Medical Center, Hospital Rev. Ref. Bonds, Series 2016, 5.00% 6/1/2028  | 130 | 131 |
| Harbor Bay Community Dev. Dist., Capital Improvement Rev. Bonds, Series 2019-A-1, 3.875% 5/1/2039  | 160 | 155 |
| City of Hialeah, Two Lakes Community Dev. Dist., Special Assessment Bonds, Series 2024, 5.00% 5/1/2044  | 40 | 41 |
| City of Hialeah, Two Lakes Community Dev. Dist., Special Assessment Bonds, Series 2024, 5.00% 5/1/2055  | 70 | 70 |
| Higher Educational Facs. Fncg. Auth., Educational Facs. Rev. Bonds (Florida Institute of Technology), Series 2019, <br> 5.00% 10/1/2035  | 85 | 88 |
| Higher Educational Facs. Fncg. Auth., Educational Facs. Rev. Bonds (Keiser University Project), Series 2025, 6.25% <br> 7/1/2055 <sup>(a)</sup>  | 800 | 796 |
| County of Hillsborough, Industrial Dev. Auth., Hospital Rev. Bonds (Tampa General Hospital Project), Series 2020-A, <br> 4.00% 8/1/2045  | 110 | 100 |
| County of Hillsborough, Industrial Dev. Auth., Hospital Rev. Bonds (Tampa General Hospital Project), Series 2020-A, <br> 3.50% 8/1/2055  | 2115 | 1604 |
| County of Hillsborough, Industrial Dev. Auth., Hospital Rev. Bonds (Tampa General Hospital Project), Series 2020-A, <br> 4.00% 8/1/2055  | 395 | 331 |
| Hobe-St. Lucie Conservancy Dist., Improvement Bonds (Unit of Dev. No. 1A), Series 2024, 5.60% 5/1/2044  | 190 | 196 |
| Hobe-St. Lucie Conservancy Dist., Improvement Bonds (Unit of Dev. No. 1A), Series 2024, 5.875% 5/1/2055  | 285 | 291 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2023-3, 5.75% 1/1/2054  | 45 | 49 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2024-3, 6.25% 1/1/2055  | 165 | 180 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2024-5, 6.25% 1/1/2055  | 65 | 71 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2024-1, 6.25% 7/1/2055  | 150 | 167 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2025-1, 6.25% 1/1/2056  | 275 | 304 |
| City of Jacksonville, Boggy Branch Community Dev. Dist., Special Assessment Bonds, Series 2021, 3.50% 5/1/2041  | 665 | 572 |
| City of Jacksonville, Boggy Branch Community Dev. Dist., Special Assessment Bonds, Series 2021, 4.00% 5/1/2051  | 250 | 199 |
| KD52 Community Dev. Dist. No. 1, Special Assessment Rev. Bonds, Series 2025, 5.875% 5/1/2045  | 2000 | 2009 |
| Kingston One Community Dev. Dist., Special Assessment Bonds (Assessment Area One - 2025 Project), Series 2025, <br> 5.75% 5/1/2045  | 145 | 150 |
| Kingston One Community Dev. Dist., Special Assessment Bonds (Assessment Area One - 2025 Project), Series 2025, <br> 6.00% 5/1/2057  | 1000 | 1026 |
| Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Lakewood Ranch Southeast Project), Series 2025, <br> 5.80% 5/1/2045  | 310 | 322 |
| Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Lakewood Ranch Southeast Project), Series 2025, <br> 6.00% 5/1/2056  | 885 | 914 |
| Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Lorraine Lakes Project), Series 2020, 3.875% <br> 5/1/2051 <sup>(a)</sup>  | 650 | 515 |
| Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Northeast Sector Project - Phase 2B), Series 2020, <br> 4.00% 5/1/2050 <sup>(a)</sup>  | 250 | 208 |
| Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Star Farms at Lakewood Ranch Project - Phase <br> 1/2), Series 2021, 3.00% 5/1/2041  | 210 | 176 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **129** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Florida (continued)** | **Florida (continued)** | **Florida (continued)** |
| Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Sweetwater Project), Series 2021, 3.10% 5/1/2041  | USD<br> 485<br>| $412 |
| Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Villages of Lakewood Ranch South Project), Series <br> 2016, 5.125% 5/1/2046  | 1000 | 1000 |
| County of Lee, Esplanade Lake Club Community Dev. Dist., Capital Improvement Rev. Bonds, Series 2019-A-1, 4.00% <br> 11/1/2040  | 75 | 71 |
| County of Lee, Esplanade Lake Club Community Dev. Dist., Capital Improvement Rev. Bonds, Series 2019-A-2, 4.00% <br> 11/1/2040  | 100 | 96 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (Cypress Cove at Healthpark Florida, Inc. Project), <br> Series 2022-A, 5.25% 10/1/2052  | 205 | 191 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (Cypress Cove at Healthpark Florida, Inc. Project), <br> Series 2022-A, 5.25% 10/1/2057  | 775 | 715 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (Shell Point Obligated Group), Series 2024-A, 5.25% <br> 11/15/2044  | 280 | 289 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (Shell Point Obligated Group), Series 2024-C, 5.00% <br> 11/15/2054  | 360 | 350 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (Shell Point Obligated Group), Series 2024-A, 5.25% <br> 11/15/2054  | 570 | 574 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Ref. Bonds (Shell Point/Alliance Obligated Group, Shell Point <br> Project), Series 2019, 5.00% 11/15/2044  | 25 | 25 |
| County of Lee, Portico Community Dev. Dist., Special Assessment Rev. Ref. and Improvement Bonds, Series 2020-1, <br> 3.50% 5/1/2037  | 310 | 288 |
| County of Lee, River Hall Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2021-A-1, 3.00% <br> 5/1/2031  | 55 | 52 |
| County of Lee, River Hall Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2021-A-2, 3.00% <br> 5/1/2031  | 20 | 19 |
| County of Lee, River Hall Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2021-A-1, 3.00% <br> 5/1/2036  | 110 | 99 |
| County of Lee, River Hall Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2021-A-2, 3.00% <br> 5/1/2036  | 70 | 63 |
| Local Government Fin. Commission, Educational Facs. Rev. Bonds (Bridgeprep Academy Projects), Series 2025-A, <br> 6.00% 6/15/2045 <sup>(a)</sup>  | 190 | 195 |
| Local Government Fin. Commission, Educational Facs. Rev. Bonds (Bridgeprep Academy Projects), Series 2025-A, <br> 6.25% 6/15/2055 <sup>(a)</sup>  | 970 | 992 |
| Local Government Fin. Commission, Educational Facs. Rev. Bonds (Bridgeprep Academy Projects), Series 2025-A, <br> 6.125% 6/15/2065 <sup>(a)</sup>  | 2210 | 2228 |
| Local Government Fin. Commission, Senior Living Rev. Bonds (Fleet Landing at Nocatee Project), Series 2025-A, <br> 6.875% 11/15/2064 <sup>(a)</sup>  | 550 | 574 |
| LTC Ranch West Residential Community Dev. Dist., Special Assessment Rev. Bonds (Assessment Area One Project), <br> Series 2021-A, 3.45% 5/1/2041  | 1125 | 970 |
| LTC Ranch West Residential Community Dev. Dist., Special Assessment Rev. Bonds (Assessment Area One Project), <br> Series 2021-A, 4.00% 5/1/2052  | 810 | 662 |
| Counties of Manatee and Sarasota, Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Lakewood <br> Centre North), Series 2015, 4.875% 5/1/2035  | 60 | 60 |
| Counties of Manatee and Sarasota, Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Lakewood <br> Centre North), Series 2015, 4.875% 5/1/2045  | 225 | 220 |
| Counties of Manatee and Sarasota, Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Lakewood <br> National and Polo Run Project), Series 2017, 5.25% 5/1/2037  | 110 | 112 |
| Counties of Manatee and Sarasota, Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Lakewood <br> National and Polo Run Project), Series 2017, 5.375% 5/1/2047  | 120 | 121 |
| County of Manatee, Artisan Lakes East Community Dev. Dist., Capital Improvement Rev. Bonds, Series 2021-1, 4.00% <br> 5/1/2051  | 35 | 29 |
| County of Manatee, North River Ranch Community Dev. Dist., Capital Improvement Rev. Bonds (Phase 1 Project), <br> Series 2020-A-1, 4.00% 5/1/2040  | 315 | 303 |
| County of Manatee, North River Ranch Community Dev. Dist., Capital Improvement Rev. Bonds (Phase 1 Project), <br> Series 2020-A-1, 4.25% 5/1/2051  | 135 | 119 |
| City of Miami, Midtown Miami Community Dev. Dist., Special Assessment and Rev. Ref. Bonds (Infrastructure Project), <br> Series 2014-B, 5.00% 5/1/2037  | 190 | 190 |
| County of Miami-Dade, Aviation Rev. Ref. Bonds, Series 2024-A, AMT, 5.00% 10/1/2035  | 2655 | 2952 |
| County of Miami-Dade, Aviation Rev. Ref. Bonds, Series 2017-B, AMT, 5.00% 10/1/2040  | 1900 | 1927 |
| County of Miami-Dade, Health Facs. Auth., Hospital Rev. and Rev. Ref. Bonds (Nicklaus Children's Hospital Project), <br> Series 2021-A, AGI, 4.00% 8/1/2051  | 330 | 300 |
| County of Miami-Dade, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Running Brook Apartments), Series 2023, <br> 3.55% 1/1/2027 (put 1/1/2026)  | 1125 | 1125 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **130** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Florida (continued)** | **Florida (continued)** | **Florida (continued)** |
| County of Miami-Dade, Industrial Dev. Auth., Industrial Dev. Rev. Bonds (CFC-MB I, LLC Collins Park Housing Project), <br> Series 2023, AMT, 6.25% 1/1/2059 <sup>(a)</sup>  | USD<br> 835<br>| $839 |
| County of Miami-Dade, Industrial Dev. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. of Florida <br> Project), Series 2011, AMT, 3.45% 11/1/2041 (put 11/2/2026)  | 975 | 976 |
| County of Miami-Dade, Sawyers Landing Community Dev. Dist., Special Assessment Rev. Bonds, Series 2021, 3.25% <br> 5/1/2026  | 70 | 70 |
| County of Miami-Dade, Sawyers Landing Community Dev. Dist., Special Assessment Rev. Bonds, Series 2021, 4.125% <br> 5/1/2041  | 2940 | 2784 |
| County of Miami-Dade, Sawyers Landing Community Dev. Dist., Special Assessment Rev. Bonds, Series 2021, 4.25% <br> 5/1/2053  | 2725 | 2339 |
| City of Miami Beach, Health Facs. Auth., Hospital Rev. Bonds (Mount Sinai Medical Center of Florida), Series 2021-B, <br> 3.00% 11/15/2051  | 1730 | 1212 |
| Mirada II Community Dev. Dist., Capital Improvement Rev. Bonds, Series 2021, 4.00% 5/1/2051  | 150 | 123 |
| City of North Port, West Villages Improvement Dist., Special Assessment Bonds (Unit of Dev. No. 2), Series 2019-A-1, <br> 5.75% 5/1/2036  | 210 | 210 |
| County of Orange, Health Facs. Auth., Health Care Facs. Rev. Bonds (Presbyterian Retirement Communities Project), <br> Series 2015, 5.00% 8/1/2045  | 475 | 475 |
| County of Orange, Health Facs. Auth., Hospital Rev. Bonds (Orlando Health Obligated Group), Series 2025-A, 5.25% <br> 10/1/2056  | 470 | 488 |
| County of Orange, Health Facs. Auth., Rev. Bonds (Presbyterian Retirement Communities Obligated Group Project), <br> Series 2023-A, 4.00% 8/1/2042  | 645 | 608 |
| County of Orange, Health Facs. Auth., Rev. Bonds (Presbyterian Retirement Communities Obligated Group Project), <br> Series 2023-A, 4.00% 8/1/2047  | 735 | 642 |
| County of Orange, Health Facs. Auth., Rev. Bonds (Presbyterian Retirement Communities Obligated Group Project), <br> Series 2024, 5.00% 8/1/2054  | 1170 | 1154 |
| Orlando Utilities Commission, Utility System Rev. Bonds, Series 2025-A, 5.00% 10/1/2050  | 325 | 340 |
| Ormond Crossings West Community Dev. Dist., Special Assessment Bonds (Master Infrastructure Project), Series 2025, <br> 5.75% 11/1/2047  | 500 | 498 |
| County of Palm Beach, Health Facs. Auth., Retirement Communities Rev. Bonds (ACTS Retirement - Life Communities, <br> Inc. Obligated Group), Series 2016, 5.00% 11/15/2032  | 655 | 664 |
| County of Palm Beach, Health Facs. Auth., Retirement Communities Rev. Bonds (ACTS Retirement - Life Communities, <br> Inc. Obligated Group), Series 2018-A, 5.00% 11/15/2045  | 140 | 141 |
| County of Palm Beach, Health Facs. Auth., Retirement Communities Rev. Bonds (ACTS Retirement - Life Communities, <br> Inc. Obligated Group), Series 2025-B, 5.00% 11/15/2055  | 3640 | 3603 |
| County of Palm Beach, Health Facs. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2016-B, 5.00% 5/15/2036  | 115 | 115 |
| County of Palm Beach, Health Facs. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2020-B, 4.00% 11/15/2041  | 30 | 29 |
| County of Palm Beach, Health Facs. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2020-B, 5.00% 11/15/2042  | 70 | 72 |
| County of Palm Beach, Health Facs. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2019-B, 5.00% 5/15/2053  | 135 | 124 |
| County of Palm Beach, Health Facs. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2023-C, 7.625% 5/15/2058  | 240 | 266 |
| County of Palm Beach, Health Facs. Auth., Rev. Bonds (Toby & Leon Cooperman Sinai Residences of Boca Raton <br> Expansion), Series 2020, 5.00% 6/1/2055  | 400 | 367 |
| City of Palm Coast, Palm Coast Park Community Dev. Dist., Special Assessment Bonds, Series 2006, 5.70% 5/1/2037  | 200 | 203 |
| City of Palm Coast, Palm Coast Park Community Dev. Dist., Special Assessment Bonds, Series 2022, 5.125% 5/1/2051  | 500 | 484 |
| City of Palm Coast, Town Center at Palm Coast Community Dev. Dist., Capital Improvement Rev. Bonds, Series 2005, <br> 6.00% 5/1/2036  | 190 | 190 |
| Parrish Plantation Community Dev. Dist., Special Assessment Rev. Bonds, Series 2021, 3.50% 5/1/2041  | 500 | 436 |
| County of Pasco, Capital Improvement Cigarette Tax Allocation Bonds, Series 2023-A, AGI, 5.75% 9/1/2054  | 70 | 75 |
| County of Pinellas, Educational Facs. Auth., Lease Rev. Bonds (Discovery Academy of Science Project), Series 2022-A, <br> 4.00% 6/1/2046 <sup>(a)</sup>  | 325 | 249 |
| County of Pinellas, Educational Facs. Auth., Lease Rev. Bonds (Discovery Academy of Science Project), Series 2022-A, <br> 5.00% 6/1/2056 <sup>(a)</sup>  | 455 | 380 |
| County of Pinellas, Industrial Dev. Auth., Rev. Bonds (Drs. Kiran & Pallavi Patel 2017 Foundation for Global <br> Understanding, Inc. Project), Series 2019, 5.00% 7/1/2029  | 180 | 184 |
| County of Pinellas, Industrial Dev. Auth., Rev. Bonds (Drs. Kiran & Pallavi Patel 2017 Foundation for Global <br> Understanding, Inc. Project), Series 2019, 5.00% 7/1/2039  | 340 | 343 |
| County of Polk, Industrial Dev. Auth., Retirement Fac. Rev. Ref. and Improvement Bonds (Carpenters Home Estates, Inc. <br> Project), Series 2019-A, 5.00% 1/1/2039  | 110 | 111 |
| County of Polk, Industrial Dev. Auth., Retirement Fac. Rev. Ref. and Improvement Bonds (Carpenters Home Estates, Inc. <br> Project), Series 2019-A, 5.00% 1/1/2055  | 430 | 402 |
| County of Polk, Westside Haines City Community Dev. Dist., Special Assessment Bonds (Assessment Area One <br> Project), Series 2021, 3.25% 5/1/2041  | 625 | 542 |
| City of Pompano Beach, Rev. and Rev. Ref. Bonds (John Knox Village Project), Series 2020, 3.50% 9/1/2030  | 140 | 140 |
| City of Pompano Beach, Rev. and Rev. Ref. Bonds (John Knox Village Project), Series 2020, 3.50% 9/1/2035  | 530 | 512 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **131** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Florida (continued)** | **Florida (continued)** | **Florida (continued)** |
| City of Pompano Beach, Rev. and Rev. Ref. Bonds (John Knox Village Project), Series 2020, 4.00% 9/1/2040  | USD<br> 40<br>| $38 |
| City of Pompano Beach, Rev. Bonds (John Knox Village Project), Series 2021-A, 4.00% 9/1/2036  | 285 | 284 |
| City of Pompano Beach, Rev. Bonds (John Knox Village Project), Series 2015, 5.00% 9/1/2039  | 85 | 85 |
| City of Pompano Beach, Rev. Bonds (John Knox Village Project), Series 2021-A, 4.00% 9/1/2041  | 380 | 355 |
| City of Pompano Beach, Rev. Bonds (John Knox Village Project), Series 2015, 5.00% 9/1/2044  | 420 | 420 |
| City of Pompano Beach, Rev. Bonds (John Knox Village Project), Series 2021-A, 4.00% 9/1/2051  | 710 | 582 |
| City of Pompano Beach, Rev. Bonds (John Knox Village Project), Series 2021-A, 4.00% 9/1/2056  | 1735 | 1387 |
| City of Port St. Lucie, Tradition Community Dev. Dist. No. 9, Special Assessment Bonds (Community Infrastructure), <br> Series 2021, 4.00% 5/1/2052  | 65 | 52 |
| City of Port St. Lucie, Tradition Community Dev. Dist. No. 9, Special Assessment Bonds (Community Infrastructure), <br> Series 2025, 5.65% 5/1/2056  | 250 | 251 |
| City of Port St. Lucie, Utility System Rev. Ref. Bonds, Series 2016, 4.00% 9/1/2036  | 220 | 221 |
| City of St. Cloud, Gramercy Farms Community Dev. Dist., Special Assessment Rev. Ref. Bonds, Series 2011, 6.75% <br> 5/1/2039  | 160 | 154 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Special Assessment Rev. Ref. Bonds, Series <br> 2019-A-2, 4.25% 5/1/2037  | 250 | 252 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Special Assessment Rev. Ref. Bonds, Series 2022-B, <br> 3.25% 5/1/2040  | 1140 | 984 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Special Assessment Rev. Ref. Bonds, Series 2022-C, <br> 3.40% 5/1/2040  | 400 | 348 |
| County of St. Johns, Industrial Dev. Auth., Rev. Bonds (Presbyterian Retirement Communities Obligated Group Project), <br> Series 2020-A, 4.00% 8/1/2055  | 515 | 429 |
| County of St. Johns, Industrial Dev. Auth., Senior Living Rev. Bonds (Vicars Landing Project), Series 2021-A, 4.00% <br> 12/15/2036  | 110 | 105 |
| County of St. Johns, Industrial Dev. Auth., Senior Living Rev. Bonds (Vicars Landing Project), Series 2021-A, 4.00% <br> 12/15/2041  | 105 | 93 |
| County of St. Johns, Industrial Dev. Auth., Senior Living Rev. Bonds (Vicars Landing Project), Series 2021-A, 4.00% <br> 12/15/2046  | 520 | 421 |
| County of St. Johns, Industrial Dev. Auth., Senior Living Rev. Bonds (Vicars Landing Project), Series 2021-A, 4.00% <br> 12/15/2050  | 185 | 143 |
| County of St. Johns, Marshall Creek Community Dev. Dist., Special Assessment Bonds, Series 2002, 5.00% 5/1/2032  | 185 | 185 |
| County of Sarasota, Health Facs. Auth., Retirement Fac. Rev. Bonds (Village on the Isle Project), Series 2017-A, 5.00% <br> 1/1/2037  | 235 | 236 |
| County of Sarasota, Health Facs. Auth., Retirement Fac. Rev. Bonds (Village on the Isle Project), Series 2017-A, 5.00% <br> 1/1/2042  | 485 | 485 |
| County of Sarasota, Health Facs. Auth., Retirement Fac. Rev. Bonds (Village on the Isle Project), Series 2017-A, 5.00% <br> 1/1/2047  | 405 | 380 |
| County of Sarasota, Health Facs. Auth., Retirement Fac. Rev. Bonds (Village on the Isle Project), Series 2017-A, 5.00% <br> 1/1/2052  | 745 | 676 |
| County of Sarasota, Health Facs. Auth., Retirement Fac. Rev. Improvement Bonds (Sunnyside Village Project), Series <br> 2018, 5.00% 5/15/2048  | 135 | 130 |
| County of Sarasota, Health Facs. Auth., Retirement Fac. Rev. Ref. Bonds (Village on the Isle Project), Series 2016, 5.00% <br> 1/1/2026  | 15 | 15 |
| County of Sarasota, Health Facs. Auth., Retirement Fac. Rev. Ref. Bonds (Village on the Isle Project), Series 2016, 5.00% <br> 1/1/2027  | 20 | 20 |
| County of Sarasota, Health Facs. Auth., Retirement Fac. Rev. Ref. Bonds (Village on the Isle Project), Series 2016, 5.00% <br> 1/1/2030  | 15 | 15 |
| South Broward Hospital Dist., Hospital Rev. Bonds (South Broward Hospital Dist. Obligated Group), Series 2021-A, <br> 3.00% 5/1/2051  | 225 | 162 |
| City of South Miami, Health Facs. Auth., Hospital Rev. Ref. Bonds (Baptist Health South Florida Obligated Group), <br> Series 2017, 4.00% 8/15/2042  | 220 | 213 |
| City of South Miami, Health Facs. Auth., Hospital Rev. Ref. Bonds (Baptist Health South Florida Obligated Group), <br> Series 2017, 5.00% 8/15/2047  | 370 | 373 |
| City of Tallahassee, Health Facs. Rev. Ref. Bonds (Tallahassee Memorial HealthCare, Inc. Project), Series 2015-A, 5.00% <br> 12/1/2040  | 145 | 145 |
| City of Tampa, Rev. and Rev. Ref. Bonds (University of Tampa Project), Series 2015, 5.00% 4/1/2045  | 175 | 175 |
| City of Tampa, Rev. and Rev. Ref. Bonds (University of Tampa Project), Series 2020-A, 4.00% 4/1/2050  | 535 | 482 |
| City of Venice, Laurel Road Community Dev. Dist., Capital Improvement Rev. Bonds, Series 2021-A-1, 3.25% 5/1/2041  | 425 | 361 |
| City of Venice, Laurel Road Community Dev. Dist., Capital Improvement Rev. Bonds, Series 2021-A-1, 4.00% 5/1/2052  | 165 | 134 |
| City of Venice, Retirement Community Rev. Improvement Bonds (Village on the Isle Project), Series 2019, 5.00% <br> 1/1/2037  | 115 | 117 |
| City of Venice, Retirement Community Rev. Improvement Bonds (Village on the Isle Project), Series 2019, 5.00% <br> 1/1/2047  | 150 | 141 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **132** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Florida (continued)** | **Florida (continued)** | **Florida (continued)** |
| City of Venice, Retirement Community Rev. Improvement Bonds (Village on the Isle Project), Series 2019, 5.00% <br> 1/1/2052  | USD<br> 340<br>| $311 |
| City of Venice, Retirement Community Rev. Improvement Bonds (Village on the Isle Project), Series 2024-A, 5.50% <br> 1/1/2055 <sup>(a)</sup>  | 280 | 273 |
| City of Venice, Retirement Community Rev. Improvement Bonds (Village on the Isle Project), Series 2024-A, 5.625% <br> 1/1/2060 <sup>(a)</sup>  | 1085 | 1070 |
| Verano #3 Community Dev. Dist., Special Assessment Bonds (Phase 1 Assessment Area), Series 2021, 3.375% <br> 5/1/2041  | 500 | 434 |
| Village Community Dev. Dist. No. 14, Special Assessment Rev. Bonds, Series 2022, 5.50% 5/1/2053  | 2980 | 3033 |
| Village Community Dev. Dist. No. 16, Special Assessment Rev. Bonds, Series 2025, 5.125% 5/1/2056  | 950 | 950 |
| Wellness Ridge Community Dev. Dist., Special Assessment Bonds (Assessment Area Two), Series 2024, 5.20% <br> 6/15/2055 <sup>(a)</sup>  | 1000 | 972 |
| City of Wildwood, Village Community Dev. Dist. No. 12, Special Assessment Rev. Bonds, Series 2018, 4.25% 5/1/2043  | 130 | 126 |
| City of Wildwood, Village Community Dev. Dist. No. 12, Special Assessment Rev. Bonds, Series 2018, 4.375% 5/1/2050  | 245 | 225 |
| City of Wildwood, Village Community Dev. Dist. No. 13, Special Assessment Rev. Bonds, Series 2020, 3.25% <br>5/1/2040 <sup>(a)</sup>  | 1195 | 1069 |
| City of Wildwood, Village Community Dev. Dist. No. 13, Special Assessment Rev. Bonds, Series 2021, 3.00% 5/1/2041  | 290 | 245 |
| City of Wildwood, Village Community Dev. Dist. No. 13, Special Assessment Rev. Bonds, Series 2019, 3.70% 5/1/2050  | 2500 | 2047 |
| City of Wildwood, Village Community Dev. Dist. No. 13, Special Assessment Rev. Bonds, Series 2020, 3.50% <br>5/1/2051 <sup>(a)</sup>  | 420 | 329 |
| City of Wildwood, Village Community Dev. Dist. No. 13, Special Assessment Rev. Bonds, Series 2021, 3.25% 5/1/2052  | 940 | 696 |
| City of Wildwood, Village Community Dev. Dist. No. 15, Special Assessment Rev. Bonds, Series 2023, 4.85% <br>5/1/2038 <sup>(a)</sup>  | 990 | 1027 |
| City of Wildwood, Village Community Dev. Dist. No. 15, Special Assessment Rev. Bonds, Series 2024, 4.55% <br>5/1/2044 <sup>(a)</sup>  | 120 | 116 |
| City of Wildwood, Village Community Dev. Dist. No. 15, Special Assessment Rev. Bonds, Series 2023, 5.25% <br>5/1/2054 <sup>(a)</sup>  | 515 | 518 |
| City of Wildwood, Village Community Dev. Dist. No. 15, Special Assessment Rev. Bonds, Series 2024, 4.80% <br>5/1/2055 <sup>(a)</sup>  | 1765 | 1698 |
| Middleton Community Dev. Dist. A, Special Assessment Rev. Bonds (City of Wildwood), Series 2024, 4.00% 5/1/2034  | 365 | 368 |
| Middleton Community Dev. Dist. A, Special Assessment Rev. Bonds (City of Wildwood), Series 2024, 4.20% 5/1/2039  | 110 | 110 |
| Middleton Community Dev. Dist. A, Special Assessment Rev. Bonds (City of Wildwood), Series 2024, 4.55% 5/1/2044  | 110 | 107 |
| Middleton Community Dev. Dist. A, Special Assessment Rev. Bonds (City of Wildwood), Series 2024, 4.75% 5/1/2055  | 460 | 433 |
| City of Winter Garden, Winter Garden Village at Fowler Groves Community Dev. Dist., Special Assessment Rev. Ref. <br> Bonds, Series 2016, 3.75% 5/1/2031  | 385 | 385 |
| City of Winter Garden, Winter Garden Village at Fowler Groves Community Dev. Dist., Special Assessment Rev. Ref. <br> Bonds, Series 2016, 4.125% 5/1/2037  | 215 | 215 |
|  |  | 148962 |
| **Georgia 1.36%** | **Georgia 1.36%** | **Georgia 1.36%** |
| City of Atlanta, Airport General Rev. Bonds, Series 2022-B, AMT, 5.00% 7/1/2047  | 2000 | 2040 |
| City of Atlanta, Airport General Rev. Bonds, Series 2024-B, AMT, 5.25% 7/1/2049  | 2450 | 2555 |
| City of Atlanta, Airport General Rev. Green Bonds, Series 2025-B, AMT, 5.25% 7/1/2050  | 1430 | 1488 |
| City of Atlanta, Airport Passenger Fac. Charge and General Rev. Bonds, Series 2019-D, AMT, 4.00% 7/1/2040  | 190 | 186 |
| City of Atlanta, Dev. Auth. Rev. Bonds, (Gulch Enterprise Zone Project), CAB, Series 2024-A-1, 0% 12/15/2048 (6.50% <br> on 6/15/2028) <sup>(a)(d)</sup>  | 380 | 341 |
| City of Atlanta, Dev. Auth. Senior Rev. Bonds (Westside Gulch Area Project), Series 2024-A-2, 5.50% 4/1/2039 <sup>(a)</sup>  | 520 | 536 |
| City of Atlanta, Urban Redev. Agcy., Rev. Bonds (Atlanta Beltline Trail Completion Project), Series 2021, 3.625% <br> 7/1/2042 <sup>(a)</sup>  | 535 | 465 |
| City of Atlanta, Urban Redev. Agcy., Rev. Bonds (Atlanta Beltline Trail Completion Project), Series 2021, 3.875% <br> 7/1/2051 <sup>(a)</sup>  | 2645 | 2187 |
| County of Burke, Dev. Auth., Pollution Control Rev. Bonds (Georgia Transmission Corp. Vogtle Project), Series 2012, <br> 2.75% 1/1/2052  | 1170 | 754 |
| County of Burke, Dev. Auth., Pollution Control Rev. Bonds (Oglethorpe Power Corp. Vogtle Project), Series 2017-C, <br> 4.125% 11/1/2045  | 755 | 711 |
| County of Cobb, Dev. Auth., Charter School Rev. Bonds (Northwest Classical Academy Project), Series 2023-A, 6.40% <br> 6/15/2053 <sup>(a)</sup>  | 200 | 200 |
| County of Cobb, Dev. Auth., Charter School Rev. Bonds (Northwest Classical Academy Project), Series 2023-A, 6.375% <br> 6/15/2058 <sup>(a)</sup>  | 140 | 137 |
| County of Cobb, Dev. Auth., Educational Facs. Rev. Bonds (Mt. Bethel Christian Academy Project), Series 2023-A, <br> 6.25% 6/15/2055 <sup>(a)</sup>  | 190 | 196 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **133** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Georgia (continued)** | **Georgia (continued)** | **Georgia (continued)** |
| County of Cobb, Dev. Auth., Educational Facs. Rev. Bonds (Mt. Bethel Christian Academy Project), Series 2023-A, <br> 6.25% 6/15/2064 <sup>(a)</sup>  | USD<br> 445<br>| $456 |
| County of Cobb, Dev. Auth., Parking and Dining Hall Lease Rev. Ref. Bonds (Kennesaw State University Real Estate <br> Foundations Projects), Series 2017, 5.00% 7/15/2033  | 115 | 119 |
| County of Coweta, Residential Care Facs. for the Elderly Auth., Rev. Bonds (Wesley Woods of Newnan - Peachtree City <br> Project), Series 2021, 4.00% 3/1/2026  | 50 | 50 |
| County of Coweta, Residential Care Facs. for the Elderly Auth., Rev. Bonds (Wesley Woods of Newnan - Peachtree City <br> Project), Series 2021, 4.00% 3/1/2031  | 140 | 137 |
| County of Coweta, Residential Care Facs. for the Elderly Auth., Rev. Bonds (Wesley Woods of Newnan - Peachtree City <br> Project), Series 2021, 4.00% 3/1/2036  | 105 | 99 |
| County of Coweta, Residential Care Facs. for the Elderly Auth., Rev. Bonds (Wesley Woods of Newnan - Peachtree City <br> Project), Series 2021, 4.00% 3/1/2041  | 105 | 92 |
| County of Coweta, Residential Care Facs. for the Elderly Auth., Rev. Bonds (Wesley Woods of Newnan - Peachtree City <br> Project), Series 2021, 4.00% 3/1/2046  | 120 | 94 |
| County of Fayette Dev., Auth. Rev. Bonds (United States Soccer Federation, Inc. Project), Series 2024, 5.00% 10/1/2038  | 105 | 116 |
| County of Fayette Dev., Auth. Rev. Bonds (United States Soccer Federation, Inc. Project), Series 2024, 5.00% 10/1/2039  | 100 | 109 |
| County of Fayette Dev., Auth. Rev. Bonds (United States Soccer Federation, Inc. Project), Series 2024, 5.00% 10/1/2040  | 80 | 87 |
| County of Fayette Dev., Auth. Rev. Bonds (United States Soccer Federation, Inc. Project), Series 2024, 5.25% 10/1/2054  | 650 | 670 |
| County of Fulton, Residential Care Facs. for the Elderly, Retirement Fac. Rev. Ref. Bonds (Lenbrook Square Foundation, <br> Inc. Project), Series 2016, 5.00% 7/1/2036  | 200 | 200 |
| Geo. L. Smith II Georgia World Congress Center Auth., Convention Center Hotel First Tier Rev. Bonds, Series 2021-A, <br> 2.375% 1/1/2031  | 135 | 127 |
| Geo. L. Smith II World Congress Center Auth., Convention Center Hotel Second Tier Rev. Bonds, Series 2021-B, <br> 3.625% 1/1/2031 <sup>(a)</sup>  | 215 | 209 |
| Geo. L. Smith II World Congress Center Auth., Convention Center Hotel Second Tier Rev. Bonds, Series 2021-B, 5.00% <br> 1/1/2036 <sup>(a)</sup>  | 260 | 267 |
| Counties of Macon and Bibb, Urban Dev. Auth., Rev. Bonds (Academy for Classical Education, Inc.), Series 2017, 5.75% <br> 6/15/2037 <sup>(a)</sup>  | 135 | 137 |
| Counties of Macon and Bibb, Urban Dev. Auth., Rev. Bonds (Academy for Classical Education, Inc.), Series 2017, <br> 5.875% 6/15/2047 <sup>(a)</sup>  | 250 | 251 |
| Counties of Macon and Bibb, Urban Dev. Auth., Rev. Bonds (Academy for Classical Education, Inc.), Series 2017, 6.00% <br> 6/15/2052 <sup>(a)</sup>  | 350 | 351 |
| Main Street Natural Gas, Inc., Gas Project Rev. Bonds, Series 2007-A, 5.50% 9/15/2026  | 110 | 112 |
| Main Street Natural Gas, Inc., Gas Project Rev. Bonds, Series 2007-A, 5.50% 9/15/2028  | 165 | 174 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2019-A, 5.00% 5/15/2043  | 90 | 92 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2022-C, 4.00% 8/1/2052 (put 11/1/2027) <sup>(a)</sup>  | 745 | 744 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2023-B, 5.00% 7/1/2053 (put 3/1/2030)  | 540 | 570 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2023-E, 5.00% 12/1/2053 (put 6/1/2031)  | 3835 | 4106 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2024-D, 5.00% 4/1/2054 (put 4/1/2031)  | 1505 | 1618 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2024-A, 5.00% 5/1/2054 (put 9/1/2031)  | 925 | 994 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2024-B, 5.00% 12/1/2054 (put 3/1/2032)  | 1350 | 1445 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2024-C, 5.00% 12/1/2054 (put 12/1/2031)  | 1710 | 1833 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2025-A, 5.00% 6/1/2055 (put 6/1/2032)  | 715 | 775 |
| Metropolitan Atlanta Rapid Transit Auth., Sales Tax Rev. Green Bonds, Series 2025-A, 5.00% 7/1/2055  | 360 | 376 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project P Bonds, Series 2021-A, 5.00% 1/1/2029  | 165 | 173 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project P Bonds, Series 2021-A, 5.00% 1/1/2030  | 165 | 176 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project P Bonds, Series 2021-A, 4.00% 1/1/2046  | 35 | 32 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project P Bonds, Series 2019-B, 5.00% 1/1/2048  | 2000 | 2002 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project J Bonds, Series 2015-A, 5.50% 7/1/2060  | 955 | 955 |
| Municipal Electric Auth., Project One Bonds, Series 2019-A, 5.00% 1/1/2034  | 1300 | 1373 |
| Municipal Electric Auth., Project One Bonds, Series 2019-A, 4.00% 1/1/2049  | 300 | 269 |
| Private Colleges and Universities Auth., Rev. Bonds (The Savannah College of Art and Design Projects), Series 2021, <br> 4.00% 4/1/2044  | 350 | 335 |
| County of Rockdale, Rev. Ref. Bonds (Pratt Paper (GA), LLC Project), Series 2018, AMT, 4.00% 1/1/2038 <sup>(a)</sup>  | 275 | 270 |
|  |  | 33791 |
| **Guam 0.39%** | **Guam 0.39%** | **Guam 0.39%** |
| A.B. Won Pat International Airport Auth., General Rev. Bonds, Series 2024-A, AMT, 5.00% 10/1/2033  | 25 | 27 |
| A.B. Won Pat International Airport Auth., General Rev. Bonds, Series 2023-A, AMT, 5.25% 10/1/2035  | 25 | 27 |
| A.B. Won Pat International Airport Auth., General Rev. Bonds, Series 2023-A, AMT, 5.375% 10/1/2040  | 60 | 64 |
| A.B. Won Pat International Airport Auth., General Rev. Bonds, Series 2023-A, AMT, 5.375% 10/1/2043  | 140 | 146 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2021-F, 5.00% 1/1/2030  | 50 | 54 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **134** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Guam (continued)** | **Guam (continued)** | **Guam (continued)** |
| Business Privilege Tax Rev. Ref. Bonds, Series 2021-F, 5.00% 1/1/2031  | USD<br> 560<br>| $609 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2021-F, 4.00% 1/1/2036  | 2455 | 2489 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2025-G, 5.00% 1/1/2036  | 500 | 550 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2025-G, 5.25% 1/1/2038  | 45 | 49 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2025-G, 5.25% 1/1/2039  | 110 | 121 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2015-D, 4.00% 11/15/2039  | 115 | 112 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2021-F, 4.00% 1/1/2042  | 1940 | 1873 |
| Dept. of Education, Certs. of Part. (John F. Kennedy High School Ref. and Energy Efficiency Project), Series 2020-A, <br> 4.25% 2/1/2030  | 110 | 111 |
| Dept. of Education, Certs. of Part. (John F. Kennedy High School Ref. and Energy Efficiency Project), Series 2020-A, <br> 5.00% 2/1/2040  | 665 | 673 |
| Guam Waterworks Auth., Water and Wastewater System Rev. Bonds, Series 2025-A, 5.50% 7/1/2043  | 75 | 81 |
| Guam Waterworks Auth., Water and Wastewater System Rev. Bonds, Series 2025-A, 5.25% 7/1/2050  | 450 | 464 |
| Guam Waterworks Auth., Water and Wastewater System Rev. Ref. Bonds, Series 2024-B, 5.00% 7/1/2028  | 860 | 900 |
| Hotel Occupancy Tax Rev. Ref. Bonds, Series 2021-A, 5.00% 11/1/2028  | 50 | 53 |
| Hotel Occupancy Tax Rev. Ref. Bonds, Series 2021-A, 5.00% 11/1/2029  | 85 | 91 |
| Hotel Occupancy Tax Rev. Ref. Bonds, Series 2021-A, 5.00% 11/1/2035  | 320 | 341 |
| Hotel Occupancy Tax Rev. Ref. Bonds, Series 2021-A, 5.00% 11/1/2040  | 365 | 382 |
| Limited Obligation Bonds (Section 30), Series 2016-A, 5.00% 12/1/2046  | 180 | 181 |
| Port Auth., Port Rev. Bonds, Series 2018-B, AMT, 5.00% 7/1/2033  | 50 | 51 |
| Port Auth., Port Rev. Bonds, Series 2018-B, AMT, 5.00% 7/1/2035  | 45 | 46 |
| Power Auth., Rev. Ref. Bonds, Series 2022-A, 5.00% 10/1/2034  | 110 | 121 |
|  |  | 9616 |
| **Hawaii 0.20%** | **Hawaii 0.20%** | **Hawaii 0.20%** |
| Airports System Rev. Bonds, Series 2025-C, AMT, 5.00% 7/1/2043  | 195 | 205 |
| Airports System Rev. Bonds, Series 2025-C, AMT, 5.00% 7/1/2045  | 175 | 181 |
| Airports System Rev. Bonds, Series 2022-A, AMT, 5.00% 7/1/2051  | 240 | 243 |
| Airports System Rev. Bonds, Series 2025-A, AMT, 5.25% 7/1/2051  | 440 | 458 |
| Airports System Rev. Bonds, Series 2025-A, AMT, 5.50% 7/1/2054  | 420 | 448 |
| Dept. of Budget and Fin., Special Purpose Rev. Ref. Bonds (Hawaiian Electric Co., Inc.), Series 2017-A, AMT, 3.10% <br> 5/1/2026  | 280 | 278 |
| Dept. of Budget and Fin., Special Purpose Rev. Ref. Bonds (Hawaiian Electric Co., Inc.), Series 2017-B, AMT, 4.00% <br> 3/1/2037  | 260 | 258 |
| Dept. of Budget and Fin., Special Purpose Rev. Ref. Bonds (Hawaiian Electric Co., Inc.), Series 2019, 3.20% 7/1/2039  | 1845 | 1655 |
| County of Hawaii, Community Facs. Dist. No. 1-2021 (Kaloko Heights Project), Special Tax Rev. Bonds, Series 2023, <br> 7.25% 5/15/2052 <sup>(a)</sup>  | 750 | 760 |
| City and County of Honolulu, Wastewater System Rev. Bonds (First Bond Resolution), Series 2016-A, 3.00% 7/1/2041  | 410 | 357 |
| City and County of Honolulu, Wastewater System Rev. Green Bonds (First Bond Resolution), Series 2024-A, 5.25% <br> 7/1/2054  | 170 | 182 |
|  |  | 5025 |
| **Idaho 0.40%** | **Idaho 0.40%** | **Idaho 0.40%** |
| Health Facs. Auth., Rev. Bonds (Kootenai Health Project), Series 2014-A, 4.375% 7/1/2034  | 270 | 270 |
| Health Facs. Auth., Rev. Bonds (Kootenai Health Project), Series 2014-A, 4.75% 7/1/2044  | 800 | 800 |
| Health Facs. Auth., Rev. Bonds (Kootenai Health Project), Series 2017-A, 5.00% 7/1/2047  | 165 | 166 |
| Health Facs. Auth., Rev. Bonds (Terraces of Boise), Series 2021-A, 3.80% 10/1/2031  | 860 | 845 |
| Health Facs. Auth., Rev. Bonds (Terraces of Boise), Series 2021-A, 4.00% 10/1/2033  | 170 | 167 |
| Health Facs. Auth., Rev. Bonds (Terraces of Boise), Series 2021-A, 4.25% 10/1/2039  | 200 | 193 |
| Health Facs. Auth., Rev. Bonds (Terraces of Boise), Series 2021-A, 4.50% 10/1/2050  | 855 | 739 |
| Health Facs. Auth., Rev. Bonds (Terraces of Boise), Series 2021-A, 4.55% 10/1/2056  | 670 | 574 |
| Housing and Fin. Assn., Facs. Rev. Bonds (Compass Public Charter School, Inc. Project), Series 2020-A, 5.00% <br>7/1/2040 <sup>(a)</sup>  | 200 | 194 |
| Housing and Fin. Assn., Facs. Rev. Bonds (Compass Public Charter School, Inc. Project), Series 2018-A, 6.00% <br>7/1/2049 <sup>(a)</sup>  | 235 | 236 |
| Housing and Fin. Assn., Facs. Rev. Bonds (Compass Public Charter School, Inc. Project), Series 2020-A, 5.00% <br>7/1/2054 <sup>(a)</sup>  | 330 | 287 |
| Housing and Fin. Assn., Sales Tax Rev. Bonds (Transportation Expansion and Congestion Mitigation Fund), Series <br> 2024-A, 4.00% 8/15/2049  | 1325 | 1246 |
| Housing and Fin. Assn., Sales Tax Rev. Bonds (Transportation Expansion and Congestion Mitigation Fund), Series <br> 2025-A, 4.00% 8/15/2050  | 610 | 573 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **135** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Idaho (continued)** | **Idaho (continued)** | **Idaho (continued)** |
| Housing and Fin. Assn., Single Family Mortgage Bonds, Series 2023-C, 5.75% 1/1/2053  | USD<br> 1,200<br>| $1306 |
| Housing and Fin. Assn., Single Family Mortgage Bonds, Series 2024-A, 6.00% 7/1/2054  | 1880 | 2071 |
| Housing and Fin. Assn., Single Family Mortgage Bonds, Series 2025-C, 6.25% 1/1/2056  | 200 | 227 |
|  |  | 9894 |
| **Illinois 6.32%** | **Illinois 6.32%** | **Illinois 6.32%** |
| Village of Bolingbrook, Special Service Area No. 2019-1, Special Tax Bonds, Series 2019, 5.00% 3/1/2033  | 220 | 224 |
| Village of Bolingbrook, Special Service Area No. 2019-1, Special Tax Bonds, Series 2019, 5.25% 3/1/2041  | 465 | 470 |
| Build Illinois Bonds, Sales Tax Rev. Bonds, Series 2024-C, 5.00% 6/15/2040  | 250 | 270 |
| City of Chicago, Board of Education, Capital Improvement Tax Bonds (Dedicated Rev.), Series 2018, 5.00% 4/1/2034  | 170 | 174 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2018-A, AGI, 5.00% 12/1/2026  | 280 | 284 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2023-A, 5.50% 12/1/2031  | 2000 | 2109 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2032  | 450 | 456 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2023-A, 5.00% 12/1/2032  | 1000 | 1028 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2035  | 435 | 436 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2036  | 510 | 510 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2038  | 365 | 364 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2039  | 245 | 244 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2015-C, 5.25% 12/1/2039  | 2725 | 2720 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2040  | 270 | 265 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2041  | 640 | 624 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2018-D, 5.00% 12/1/2046  | 1655 | 1525 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2016-B, 6.50% 12/1/2046  | 865 | 870 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2017-A, 7.00% 12/1/2046 <sup>(a)</sup>  | 6200 | 6367 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2023-A, 6.00% 12/1/2049  | 340 | 344 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2025-A, 5.75% 12/1/2050  | 4795 | 4774 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2025-A, 6.25% 12/1/2050  | 3265 | 3414 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 1999-A, NATL, 5.50% <br> 12/1/2026  | 515 | 521 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2018-C, AGI, 5.00% <br> 12/1/2027  | 250 | 258 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2018-C, AGI, 5.00% <br> 12/1/2028  | 250 | 261 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2017-B, 6.75% <br> 12/1/2030 <sup>(a)</sup>  | 365 | 383 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2025-C, 5.50% <br> 12/1/2032  | 475 | 502 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2012-B, 5.00% <br> 12/1/2034  | 110 | 109 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2012-B, 4.00% <br> 12/1/2035  | 490 | 455 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2022-B, 4.00% <br> 12/1/2035  | 220 | 210 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, 5.00% <br> 12/1/2035  | 120 | 119 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2017-H, 5.00% <br> 12/1/2036  | 1385 | 1371 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2025-B, 5.00% <br> 12/1/2040  | 500 | 490 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2022-B, 4.00% <br> 12/1/2041  | 2715 | 2367 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2022-A, 4.00% <br> 12/1/2042  | 460 | 391 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2025-B, 6.00% <br> 12/1/2042  | 1310 | 1387 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2017-B, 7.00% <br> 12/1/2042 <sup>(a)</sup>  | 2195 | 2271 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2022-A, 4.00% <br> 12/1/2043  | 2430 | 2014 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2025-B, 6.00% <br> 12/1/2043  | 1815 | 1910 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **136** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Illinois (continued)** | **Illinois (continued)** | **Illinois (continued)** |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2025-B, 6.00% <br> 12/1/2044  | USD<br> 1,165<br>| $1216 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2025-C, 5.50% <br> 12/1/2045  | 2540 | 2529 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2017-H, 5.00% <br> 12/1/2046  | 770 | 709 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2022-A, 4.00% <br> 12/1/2047  | 985 | 768 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), CAB, Series 1998-B-1, NATL, <br> 0% 12/1/2028  | 1080 | 970 |
| City of Chicago, GO Bonds, Series 2021-A, 5.00% 1/1/2028  | 270 | 276 |
| City of Chicago, GO Bonds, Series 2021-A, 5.00% 1/1/2033  | 10 | 10 |
| City of Chicago, GO Bonds, Series 2023-A, 5.00% 1/1/2034  | 1185 | 1246 |
| City of Chicago, GO Bonds, Series 2021-B, 4.00% 1/1/2037 <sup>(a)</sup>  | 25 | 23 |
| City of Chicago, GO Bonds, Series 2021-B, 4.00% 1/1/2038 <sup>(a)</sup>  | 737 | 681 |
| City of Chicago, GO Bonds, Series 2021-B, 4.00% 1/1/2038 <sup>(a)</sup>  | 230 | 213 |
| City of Chicago, GO Bonds, Series 2025-B, 5.50% 1/1/2041  | 95 | 99 |
| City of Chicago, GO Bonds, Series 2024-A, 5.00% 1/1/2042  | 1000 | 990 |
| City of Chicago, GO Bonds, Series 2025-C, 6.00% 1/1/2043  | 115 | 123 |
| City of Chicago, GO Bonds, Series 2021-B, 4.00% 1/1/2044 <sup>(a)</sup>  | 493 | 405 |
| City of Chicago, GO Bonds, Series 2024-A, 5.25% 1/1/2045  | 335 | 328 |
| City of Chicago, GO Bonds, Series 2025-E, 6.00% 1/1/2045  | 110 | 116 |
| City of Chicago, GO Bonds, Series 2021-B, 4.00% 1/1/2049 <sup>(a)</sup>  | 333 | 257 |
| City of Chicago, GO Bonds, Series 2025-A, 6.00% 1/1/2050  | 1220 | 1262 |
| City of Chicago, GO Bonds (Chicago Works), Series 2023-A, 4.00% 1/1/2035  | 570 | 556 |
| City of Chicago, GO Bonds (Chicago Works), Series 2023-A, 5.25% 1/1/2038  | 400 | 416 |
| City of Chicago, GO Bonds (Chicago Works), Series 2023-A, 5.50% 1/1/2039  | 480 | 504 |
| City of Chicago, GO Bonds (Chicago Works), Series 2023-A, 5.50% 1/1/2040  | 300 | 311 |
| City of Chicago, GO Bonds (Chicago Works), Series 2023-A, 5.50% 1/1/2041  | 100 | 102 |
| City of Chicago, GO Bonds, CAB, Series 2008-C, 0% 1/1/2027 (escrowed to maturity)  | 250 | 242 |
| City of Chicago, GO Project and Rev. Ref. Bonds, CAB, Series 2008-C, 0% 1/1/2031  | 270 | 226 |
| City of Chicago, GO Rev. Ref. Bonds, Series 2020-A, 5.00% 1/1/2027  | 655 | 663 |
| City of Chicago, GO Rev. Ref. Bonds, Series 2020-A, 5.00% 1/1/2028  | 240 | 246 |
| City of Chicago, GO Rev. Ref. Bonds, Series 2020-A, 5.00% 1/1/2028  | 115 | 120 |
| City of Chicago, GO Rev. Ref. Bonds, Series 2024-B, 5.00% 1/1/2041  | 110 | 111 |
| City of Chicago, O'Hare International Airport, General Airport Rev. Bonds, Series 2025-E, AMT, 5.50% 1/1/2055  | 4490 | 4682 |
| City of Chicago, O'Hare International Airport, General Airport Rev. Bonds, Series 2025-E, AMT, BAM, 5.00% 1/1/2060  | 1525 | 1523 |
| City of Chicago, O'Hare International Airport, General Airport Rev. Ref. Bonds, Series 2024-C, AMT, 5.00% 1/1/2032  | 1435 | 1577 |
| City of Chicago, O'Hare International Airport, Special Facs. Rev. Bonds (Trips Obligated Group), Series 2018, AMT, <br> 5.00% 7/1/2048  | 2465 | 2433 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax GO Bonds (Dedicated Tax <br> Rev.), Series 2012-A, 5.00% 12/1/2042  | 7465 | 7227 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax GO Bonds (Dedicated Tax <br> Rev.), CAB, Series 1998-B-1, NATL, 0% 12/1/2029  | 590 | 510 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax GO Bonds (Dedicated Tax <br> Rev.), CAB, Series 1999-A, NATL, 0% 12/1/2029  | 775 | 670 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax GO Bonds (Dedicated Tax <br> Rev.), CAB, Series 1998-B-1, NATL, 0% 12/1/2031  | 1125 | 897 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax GO Bonds (Dedicated Tax <br> Rev.), CAB, Series 1999-A, NATL, 0% 12/1/2031  | 920 | 734 |
| City of Chicago, Transit Auth., Sales Tax Receipts Rev. Bonds, Series 2020-A, 4.00% 12/1/2050  | 100 | 90 |
| City of Chicago, Transit Auth., Sales Tax Receipts Rev. Bonds, Series 2017, 5.00% 12/1/2051  | 2395 | 2401 |
| City of Chicago, Transit Auth., Sales Tax Receipts Rev. Bonds, Series 2020-A, 4.00% 12/1/2055  | 330 | 282 |
| City of Chicago, Transit Auth., Sales Tax Receipts Rev. Bonds, Series 2022-A, 5.00% 12/1/2057  | 1035 | 1044 |
| City of Chicago, Transit Auth., Sales Tax Receipts Rev. Ref. Bonds, Series 2024-A, 5.00% 12/1/2049  | 490 | 508 |
| City of Chicago, Wastewater Transmission Rev. Bonds, Series 2017-A, 5.00% 1/1/2037  | 2000 | 2034 |
| City of Chicago, Wastewater Transmission Rev. Bonds, Series 2023-B, AGI, 5.25% 1/1/2048  | 1000 | 1031 |
| City of Chicago, Wastewater Transmission Rev. Project Bonds, Series 2023-A, AGI, 5.25% 1/1/2058  | 205 | 213 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2017-A, AGI, 4.00% 1/1/2052  | 50 | 44 |
| City of Chicago, Water Rev. Bonds, Series 2000, 5.00% 11/1/2029  | 110 | 112 |
| City of Chicago, Water Rev. Bonds, Series 2000, 5.00% 11/1/2030  | 75 | 76 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2017-2, AGI, 5.00% 11/1/2035  | 1250 | 1284 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **137** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Illinois (continued)** | **Illinois (continued)** | **Illinois (continued)** |
| Counties of Cook, DuPage, Kane, Lake, McHenry and Will, Regional Transportation Auth., GO Bonds, Series 2004-A, <br> AGI, 5.75% 6/1/2034  | USD<br> 195<br>| $224 |
| County of Cook, Community College Dist. No. 508 (City Colleges of Chicago), Unlimited Tax GO Bonds, Series 2017, <br> BAM, 5.00% 12/1/2047  | 520 | 522 |
| County of DuPage, Special Service Area No. 31 (Monarch Landing Project), Special Tax Bonds, Series 2006, 5.625% <br> 3/1/2036  | 361 | 361 |
| Fin. Auth., Charter School Rev. Ref. and Improvement Rev. Bonds (Chicago International Charter School Project), Series <br> 2017, 5.00% 12/1/2037  | 225 | 228 |
| Fin. Auth., Charter School Rev. Ref. and Improvement Rev. Bonds (Chicago International Charter School Project), Series <br> 2017, 5.00% 12/1/2047  | 615 | 598 |
| Fin. Auth., Graduate and Professional Student Loan Program Rev. Bonds (Midwestern University Foundation), Series <br> 2025-A, 5.00% 7/1/2032  | 10 | 11 |
| Fin. Auth., Graduate and Professional Student Loan Program Rev. Bonds (Midwestern University Foundation), Series <br> 2021-A, AMT, 2.25% 7/1/2033  | 25 | 22 |
| Fin. Auth., Graduate and Professional Student Loan Program Rev. Bonds (Midwestern University Foundation), Series <br> 2025-A, 5.00% 7/1/2033  | 15 | 16 |
| Fin. Auth., Graduate and Professional Student Loan Program Rev. Bonds (Midwestern University Foundation), Series <br> 2025-A, 4.25% 7/1/2041  | 35 | 36 |
| Fin. Auth., Rev. Bonds (Ascension Health Alliance), Series 2016-C, 4.00% 2/15/2041 (preref. 2/15/2027)  | 5 | 5 |
| Fin. Auth., Rev. Bonds (Ascension Health Credit Group), Series 2016-C, 5.00% 2/15/2034 (preref. 2/15/2027)  | 25 | 26 |
| Fin. Auth., Rev. Bonds (Ascension Health Credit Group), Series 2016-C, 5.00% 2/15/2036 (preref. 2/15/2027)  | 25 | 26 |
| Fin. Auth., Rev. Bonds (Ascension Health Credit Group), Series 2016-C, 4.00% 2/15/2041 (preref. 2/15/2027)  | 390 | 396 |
| Fin. Auth., Rev. Bonds (DePaul University), Series 2016, 5.00% 10/1/2041  | 115 | 116 |
| Fin. Auth., Rev. Bonds (Edward-Elmhurst Healthcare), Series 2017-A, 5.00% 1/1/2035 (preref. 1/1/2027)  | 415 | 425 |
| Fin. Auth., Rev. Bonds (Mercy Health Corp.), Series 2016, 5.00% 12/1/2034  | 405 | 409 |
| Fin. Auth., Rev. Bonds (Mercy Health Corp.), Series 2016, 4.00% 12/1/2035  | 170 | 171 |
| Fin. Auth., Rev. Bonds (Mercy Health Corp.), Series 2016, 5.00% 12/1/2040  | 4655 | 4699 |
| Fin. Auth., Rev. Bonds (Mercy Health Corp.), Series 2016, 5.00% 12/1/2046  | 4625 | 4669 |
| Fin. Auth., Rev. Bonds (Northshore University Healthsystem), Series 2020-A, 3.25% 8/15/2049  | 415 | 330 |
| Fin. Auth., Rev. Bonds (OSF Healthcare System), Series 2015-A, 4.125% 11/15/2037  | 135 | 134 |
| Fin. Auth., Rev. Bonds (OSF Healthcare System), Series 2020-A, 3.00% 5/15/2050  | 280 | 198 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2016-A, 5.00% 5/1/2026  | 115 | 116 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2016-A, 5.00% 11/1/2026  | 390 | 395 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2016-A, 5.00% 11/1/2028  | 250 | 253 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2016-A, 5.00% 11/1/2030  | 165 | 167 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2016-A, 5.00% 11/1/2031  | 180 | 182 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2021-A, 4.00% 5/1/2035  | 160 | 161 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2021-A, 4.00% 5/1/2040  | 50 | 48 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2021-A, 4.00% 5/1/2050  | 400 | 337 |
| Fin. Auth., Rev. Bonds (Presence Health Network), Series 2016-C, 3.75% 2/15/2034 (preref. 2/15/2027)  | 30 | 30 |
| Fin. Auth., Rev. Bonds (Presence Health Network), Series 2016-C, 4.00% 2/15/2041 (preref. 2/15/2027)  | 10 | 10 |
| Fin. Auth., Rev. Bonds (Rosalind Franklin University Research Building Project), Series 2017-C, 5.00% 8/1/2046  | 190 | 186 |
| Fin. Auth., Rev. Bonds (Rosalind Franklin University Research Building Project), Series 2017-C, 5.00% 8/1/2049  | 205 | 198 |
| Fin. Auth., Rev. Bonds (The Carle Foundation), Series 2021-A, 3.00% 8/15/2048  | 150 | 115 |
| Fin. Auth., Rev. Bonds (The Moorings of Arlington Heights), Series 2025, 5.375% 11/1/2046  | 275 | 276 |
| Fin. Auth., Rev. Bonds (The Moorings of Arlington Heights), Series 2025, 5.375% 11/1/2050  | 360 | 360 |
| Fin. Auth., Rev. Bonds (The Moorings of Arlington Heights), Series 2025, 5.375% 11/1/2055  | 400 | 400 |
| Fin. Auth., Rev. Green Bonds (Clean Water Initiative Revolving Fund), Series 2025-A, 5.00% 7/1/2044  | 20 | 22 |
| Fin. Auth., Rev. Ref. Bonds (Anne & Robert H. Lurie Children's Hospital), Series 2017, 5.00% 8/15/2034  | 110 | 113 |
| Fin. Auth., Rev. Ref. Bonds (Benedictine University), Series 2021, 5.00% 10/1/2028  | 115 | 114 |
| Fin. Auth., Rev. Ref. Bonds (Benedictine University), Series 2017, 5.00% 10/1/2030  | 205 | 200 |
| Fin. Auth., Rev. Ref. Bonds (Benedictine University), Series 2021, 4.00% 10/1/2032  | 125 | 113 |
| Fin. Auth., Rev. Ref. Bonds (Benedictine University), Series 2017, 5.00% 10/1/2033  | 335 | 319 |
| Fin. Auth., Rev. Ref. Bonds (Benedictine University), Series 2021, 4.00% 10/1/2038  | 35 | 29 |
| Fin. Auth., Rev. Ref. Bonds (Benedictine University), Series 2017, 5.00% 10/1/2038  | 895 | 808 |
| Fin. Auth., Rev. Ref. Bonds (Dominican University), Series 2022, 5.00% 3/1/2047  | 120 | 111 |
| Fin. Auth., Rev. Ref. Bonds (Dominican University), Series 2022, 5.00% 3/1/2052  | 120 | 108 |
| Fin. Auth., Rev. Ref. Bonds (Northwestern Memorial Healthcare), Series 2021-A, 4.00% 7/15/2039  | 90 | 90 |
| Fin. Auth., Rev. Ref. Bonds (Northwestern Memorial Healthcare), Series 2021-A, 3.00% 7/15/2040  | 550 | 488 |
| Fin. Auth., Rev. Ref. Bonds (OSF Healthcare System), Series 2015-A, 5.00% 11/15/2035  | 285 | 285 |
| Fin. Auth., Rev. Ref. Bonds (OSF Healthcare System), Series 2015-A, 5.00% 11/15/2045  | 325 | 325 |
| Fin. Auth., Rev. Ref. Bonds (Silver Cross Hospital and Medical Centers), Series 2025, 5.00% 8/15/2041  | 670 | 722 |
| Fin. Auth., Rev. Ref. Bonds (Smith Crossing), Series 2022, 4.00% 10/15/2030  | 405 | 404 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **138** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Illinois (continued)** | **Illinois (continued)** | **Illinois (continued)** |
| Fin. Auth., Rev. Ref. Bonds (Smith Crossing), Series 2022, 4.00% 10/15/2037  | USD<br> 865<br>| $811 |
| Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2023, AMT, 4.60% 10/1/2053 <br> (put 10/1/2026)  | 630 | 632 |
| Fin. Auth., Solid Waste Disposal Rev. Green Bonds (LRS Holdings, LLC Project), Series 2023-A, AMT, 7.25% 9/1/2052 <br> (put 9/1/2030) <sup>(a)</sup>  | 1705 | 1861 |
| Fin. Auth., Student Housing and Academic Fac. Rev. Bonds (CHF-Chicago, LLC - University of Illinois at Chicago <br> Project), Series 2017-A, 5.00% 2/15/2047  | 575 | 553 |
| Fin. Auth., Student Housing and Academic Fac. Rev. Bonds (CHF-Chicago, LLC - University of Illinois at Chicago <br> Project), Series 2017-A, 5.00% 2/15/2050  | 485 | 460 |
| GO Bonds, Series 2021-B, 4.00% 1/1/2030 <sup>(a)</sup>  | 234 | 235 |
| GO Bonds, Series 2018-A, 5.00% 5/1/2032  | 2335 | 2435 |
| GO Bonds, Series 2021-B, 4.00% 1/1/2035 <sup>(a)</sup>  | 37 | 36 |
| GO Bonds, Series 2016, 4.00% 6/1/2036  | 250 | 250 |
| GO Bonds, Series 2019-C, 4.00% 11/1/2040  | 500 | 483 |
| GO Bonds, Series 2021-B, 3.00% 12/1/2040  | 760 | 632 |
| GO Bonds, Series 2021-B, 3.00% 12/1/2041  | 655 | 531 |
| GO Bonds, Series 2022-A, 5.50% 3/1/2042  | 290 | 312 |
| GO Bonds, Series 2019-C, 4.00% 11/1/2042  | 225 | 213 |
| GO Bonds, Series 2019-C, 4.00% 11/1/2044  | 205 | 188 |
| GO Bonds, Series 2024-B, 5.25% 5/1/2045  | 500 | 523 |
| GO Bonds, Series 2020-C, 4.25% 10/1/2045  | 60 | 57 |
| GO Bonds, Series 2024-B, 5.25% 5/1/2047  | 85 | 88 |
| GO Bonds, Series 2024-B, 5.25% 5/1/2048  | 125 | 129 |
| GO Bonds, Series 2024-B, 5.25% 5/1/2049  | 110 | 113 |
| GO Rev. Ref. Bonds, Series 2016, AGI, 4.00% 2/1/2030  | 5 | 5 |
| Housing Dev. Auth., Homeowner Mortgage Rev. Bonds, Series 2016-B, AMT, 3.50% 8/1/2046  | 10 | 10 |
| Housing Dev. Auth., Housing Rev. Green Bonds, Series 2021-B, 3.00% 4/1/2051  | 375 | 369 |
| Housing Dev. Auth., Rev. Bonds, Series 2019-A, 4.25% 10/1/2049  | 15 | 15 |
| Housing Dev. Auth., Rev. Bonds, Series 2021-A, 3.00% 4/1/2051  | 70 | 69 |
| Housing Dev. Auth., Rev. Bonds, Series 2021-D, 3.00% 10/1/2051  | 230 | 227 |
| Housing Dev. Auth., Rev. Bonds, Series 2022-A, 3.50% 4/1/2052  | 275 | 274 |
| Housing Dev. Auth., Rev. Bonds, Series 2023-K, 6.25% 10/1/2053  | 2945 | 3275 |
| Housing Dev. Auth., Rev. Bonds, Series 2024-A, 6.00% 10/1/2054  | 490 | 531 |
| Housing Dev. Auth., Rev. Bonds, Series 2024-I, 6.00% 10/1/2055  | 140 | 155 |
| Housing Dev. Auth., Rev. Bonds, Series 2024-E, 6.25% 10/1/2055  | 180 | 197 |
| Housing Dev. Auth., Rev. Bonds, Series 2025-G, 6.25% 4/1/2056  | 510 | 582 |
| Housing Dev. Auth., Rev. Social Bonds, Series 2024-C, 6.25% 10/1/2054  | 495 | 553 |
| Housing Dev. Auth., Rev. Social Bonds, Series 2025-A, 6.25% 10/1/2055  | 500 | 564 |
| Board of Trustees of Illinois State University, Auxiliary Facs. System Rev. Bonds, Series 2018-B, AGI, 5.00% 4/1/2026  | 75 | 75 |
| Board of Trustees of Illinois State University, Auxiliary Facs. System Rev. Bonds, Series 2018-B, AGI, 5.00% 4/1/2031  | 85 | 89 |
| Board of Trustees of Illinois State University, Auxiliary Facs. System Rev. Bonds, Series 2018-A, AGI, 5.00% 4/1/2035  | 90 | 93 |
| Village of Lincolnshire, Special Service Area No. 1 (Sedgebrook Project), Special Tax Bonds, Series 2004, 6.25% <br> 3/1/2034  | 143 | 143 |
| Metropolitan Pier and Exposition Auth., Dedicated State Tax Rev. Bonds, CAB, Series 1994, BAM, 0% 6/15/2028  | 110 | 102 |
| Metropolitan Pier and Exposition Auth., Dedicated State Tax Rev. Bonds, CAB, Series 2002-A, NATL, 0% 6/15/2030 <br> (escrowed to maturity)  | 15 | 13 |
| Metropolitan Pier and Exposition Auth., Dedicated State Tax Rev. Bonds, CAB, Series 2002-A, NATL, 0% 6/15/2037  | 335 | 216 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, CAB, Series 1994, NATL, 0% <br> 6/15/2028  | 260 | 241 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, CAB, Series 2002-A, NATL, 0% <br> 12/15/2032  | 755 | 598 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, CAB, Series 2002-A, NATL, 0% <br> 6/15/2033  | 390 | 303 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, CAB, Series 2002-A, NATL, 0% <br> 12/15/2033  | 1200 | 913 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, CAB, Series 2002-A, NATL, 0% <br> 6/15/2034  | 110 | 82 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, CAB, Series 2002-A, NATL, 0% <br> 12/15/2034  | 1660 | 1212 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, CAB, Series 2002-A, NATL, 0% <br> 12/15/2035  | 125 | 87 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, CAB, Series 2002-A, NATL, 0% <br> 6/15/2036  | 250 | 170 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **139** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Illinois (continued)** | **Illinois (continued)** | **Illinois (continued)** |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, CAB, Series 2002-A, NATL, 0% <br> 6/15/2038  | USD<br> 580<br>| $355 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, CAB, Series 2002-A, NATL, 0% <br> 12/15/2039  | 420 | 239 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, CAB, Series 2012-B, 0% <br> 12/15/2051  | 735 | 201 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, CAB, Series 2015-A, AGI, 0% <br> 12/15/2052  | 225 | 61 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Bonds, Series 2020-B, 5.00% <br> 6/15/2042  | 1375 | 1406 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Bonds, Series 2015-A, 5.00% <br> 6/15/2053  | 220 | 219 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Bonds, CAB, Series 2012-B, AGI, 0% <br> 12/15/2051  | 860 | 244 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2015-B, 5.00% <br> 12/15/2040  | 95 | 95 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2022-A, 4.00% <br> 12/15/2042  | 1055 | 1007 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2022-A, 4.00% <br> 12/15/2047  | 255 | 226 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2020-A, 4.00% <br> 6/15/2050  | 1380 | 1201 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2020-A, 5.00% <br> 6/15/2050  | 4795 | 4778 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2022-A, 4.00% <br> 6/15/2052  | 1245 | 1072 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2024-B, 5.00% <br> 6/15/2053  | 130 | 130 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2017-A, 5.00% <br> 6/15/2057  | 2240 | 2213 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, CAB, Series 2002-A, <br> NATL, 0% 12/15/2031  | 865 | 711 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, CAB, Series 2022-A, 0% <br> 12/15/2036  | 1000 | 663 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, CAB, Series 2022-A, 0% <br> 6/15/2037  | 150 | 97 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, CAB, Series 2022-A, 0% <br> 12/15/2037  | 255 | 160 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, CAB, Series 2022-A, 0% <br> 6/15/2039  | 395 | 231 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, CAB, Series 2022-A, 0% <br> 12/15/2039  | 195 | 111 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, CAB, Series 2022-A, 0% <br> 6/15/2040  | 180 | 99 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, CAB, Series 2022-A, 0% <br> 12/15/2040  | 645 | 347 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, CAB, Series 2022-A, 0% <br> 12/15/2041  | 185 | 94 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, CAB, Series 2010-B-1, <br> AGI, 0% 6/15/2043  | 815 | 377 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, CAB, Series 2010-B-1, <br> AGI, 0% 6/15/2044  | 880 | 383 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, CAB, Series 2010-B-1, <br> AGI, 0% 6/15/2046  | 220 | 84 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, CAB, Series 2012-B, <br> BAM, 0% 12/15/2051  | 1600 | 455 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, CAB, Series 2017-B, <br> BAM, 0% 12/15/2054  | 4440 | 1082 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, CAB, Series 2017-A, AGI, <br> 0% 12/15/2056  | 3800 | 835 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, CAB, Series 2017-A, 0% <br> 12/15/2056  | 245 | 51 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **140** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Illinois (continued)** | **Illinois (continued)** | **Illinois (continued)** |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Bonds, Series 2021, BAM, 4.00% <br> 10/1/2043  | USD<br> 60<br>| $56 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM, 5.00% <br> 4/1/2033  | 350 | 373 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM, 4.00% <br> 4/1/2035  | 125 | 127 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM, 4.00% <br> 4/1/2036  | 255 | 258 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM, 4.00% <br> 4/1/2037  | 195 | 196 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM, 4.00% <br> 4/1/2038  | 280 | 281 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM, 4.00% <br> 4/1/2039  | 295 | 295 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2021, BAM, 4.00% <br> 10/1/2039  | 45 | 45 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM, 4.00% <br> 4/1/2040  | 270 | 266 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM, 4.00% <br> 4/1/2041  | 370 | 364 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2021, BAM, 4.00% <br> 10/1/2041  | 40 | 39 |
| Sales Tax Securitization Corp., Sales Tax Securitization Bonds, Series 2020-A, 4.00% 1/1/2038  | 220 | 221 |
| Sales Tax Securitization Corp., Sales Tax Securitization Rev. Ref. Bonds, Series 2024-A, 5.00% 1/1/2037  | 195 | 215 |
| Board of Trustees of Southern Illinois University, Housing and Auxiliary Facs. System Rev. Bonds, CAB, Series 1999-A, <br> NATL, 0% 4/1/2029  | 155 | 136 |
| Sports Facs. Auth., Sports Facs. Rev. Ref. Bonds (State Tax Supported), Series 2019, 5.00% 6/15/2028  | 110 | 113 |
| Sports Facs. Auth., Sports Facs. Rev. Ref. Bonds (State Tax Supported), Series 2019, 5.00% 6/15/2029  | 220 | 230 |
| Sports Facs. Auth., Sports Facs. Rev. Ref. Bonds (State Tax Supported), Series 2014, AGI, 5.25% 6/15/2030  | 665 | 676 |
| Sports Facs. Auth., Sports Facs. Rev. Ref. Bonds (State Tax Supported), Series 2014, AGI, 5.25% 6/15/2031  | 285 | 290 |
| Sports Facs. Auth., Sports Facs. Rev. Ref. Bonds (State Tax Supported), Series 2014, AGI, 5.25% 6/15/2032  | 155 | 157 |
| Sports Facs. Auth., Sports Facs. Rev. Ref. Bonds (State Tax Supported), CAB, Series 2001, AMBAC, 0% 6/15/2026  | 110 | 108 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2019-A, 5.00% 1/1/2044  | 165 | 170 |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Ref. Bonds, Series 2016-A, 4.00% 4/1/2034  | 255 | 255 |
| Village of Volo, Special Service Area No. 17, Special Tax Bonds, Series 2017, 5.50% 3/1/2047  | 161 | 161 |
| Village of Volo, Special Service Areas Nos. 3 and 6 (Symphony Meadows / Lancaster Falls Projects), Special Tax Rev. <br> Ref. Bonds, Series 2016, AGI, 3.125% 3/1/2027  | 125 | 125 |
| Village of Volo, Special Service Areas Nos. 3 and 6 (Symphony Meadows / Lancaster Falls Projects), Special Tax Rev. <br> Ref. Bonds, Series 2016, AGI, 5.00% 3/1/2034  | 548 | 550 |
| Village of Volo, Special Service Areas Nos. 3 and 6 (Symphony Meadows / Lancaster Falls Projects), Special Tax Rev. <br> Ref. Bonds, Series 2016, AGI, 4.00% 3/1/2036  | 165 | 165 |
| United City of Yorkville, Special Service Area Nos. 2005-108 and 2005-109, Special Tax Rev. Ref. Bonds, Series 2016, <br> AGI, 5.00% 3/1/2032  | 470 | 471 |
| United City of Yorkville, Special Service Area Nos. 2005-108 and 2005-109, Special Tax Rev. Ref. Bonds, Series 2016, <br> AGI, 4.00% 3/1/2036  | 860 | 861 |
|  |  | 156824 |
| **Indiana 1.26%** | **Indiana 1.26%** | **Indiana 1.26%** |
| Fin. Auth., Educational Facs. Rev. Bonds (Seven Oaks Classical School Project), Series 2021-A, 5.00% 6/1/2041  | 225 | 209 |
| Fin. Auth., Educational Facs. Rev. Bonds (Seven Oaks Classical School Project), Series 2021-A, 5.00% 6/1/2056  | 395 | 325 |
| Fin. Auth., Environmental Facs. Rev. Ref. Bonds (Indianapolis Power & Light Co. Project), Series 2021-A, 1.40% 8/1/2029  | 220 | 202 |
| Fin. Auth., Environmental Improvement Rev. Bonds (U.S. Steel Corp. Project), Series 2020-A, AMT, 6.75% 5/1/2039  | 1735 | 1942 |
| Fin. Auth., Environmental Improvement Rev. Ref. Bonds (U.S. Steel Corp. Project), Series 2021-A, 4.125% 12/1/2026  | 805 | 806 |
| Fin. Auth., Health Facs. Rev. Bonds (Good Samaritan Hospital Project), Series 2016-A, 5.50% 4/1/2041  | 220 | 221 |
| Fin. Auth., Health System Rev. Bonds (Indiana University Health), Series 2025-C, 5.25% 10/1/2044  | 315 | 343 |
| Fin. Auth., Health System Rev. Bonds (Indiana University Health), Series 2025-D-3, 5.00% 10/1/2059 (put 10/1/2033)  | 180 | 203 |
| Fin. Auth., Hospital Rev. Bonds (Goshen Health), Series 2019-A, 4.00% 11/1/2043  | 220 | 189 |
| Fin. Auth., Hospital Rev. Bonds (Marion General Hospital), Series 2020-A, 4.00% 7/1/2050  | 4645 | 4017 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Methodist Hospitals, Inc.), Series 2024-A, 5.50% 9/15/2039  | 720 | 774 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Methodist Hospitals, Inc.), Series 2024-A, 5.50% 9/15/2044  | 1490 | 1525 |
| Fin. Auth., Midwestern Disaster Relief Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2012-B, 3.00% 11/1/2030  | 3900 | 3816 |
| Fin. Auth., Midwestern Disaster Relief Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2012-A, 4.25% 11/1/2030  | 725 | 745 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **141** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Indiana (continued)** | **Indiana (continued)** | **Indiana (continued)** |
| Fin. Auth., Pollution Control Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2010-B, 2.50% 11/1/2030  | USD<br> 1,195<br>| $1146 |
| Fin. Auth., Pollution Control Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2010-A, 3.00% 11/1/2030  | 450 | 442 |
| Fin. Auth., Rev. Bonds (Ascension Senior Credit Group), Series 2025-A-1, 5.00% 11/15/2043  | 140 | 150 |
| Fin. Auth., Rev. Bonds (BHI Senior Living Obligated Group), Series 2018-A, 5.00% 11/15/2033  | 265 | 273 |
| Fin. Auth., Rev. Bonds (BHI Senior Living Obligated Group), Series 2018-A, 5.00% 11/15/2038  | 265 | 269 |
| Fin. Auth., Rev. Bonds (BHI Senior Living Obligated Group), Series 2018-A, 5.00% 11/15/2043  | 2260 | 2268 |
| Fin. Auth., Rev. Bonds (BHI Senior Living Obligated Group), Series 2016-A, 5.25% 11/15/2046  | 1000 | 1001 |
| Fin. Auth., Rev. Bonds (BHI Senior Living Obligated Group), Series 2018-A, 5.00% 11/15/2048  | 500 | 486 |
| Fin. Auth., Rev. Bonds (BHI Senior Living Obligated Group), Series 2018-A, 5.00% 11/15/2053  | 250 | 239 |
| Fin. Auth., Rev. Bonds (Greencroft Obligated Group), Series 2021-A, 4.00% 11/15/2043  | 580 | 508 |
| Fin. Auth., Rev. Bonds (Greencroft Obligated Group), Series 2021-A, 4.00% 11/15/2051  | 1580 | 1258 |
| Fin. Auth., Rev. Ref. Bonds (BHI Senior Living Obligated Group), Series 2021-A, 4.00% 11/15/2041  | 1535 | 1433 |
| Fin. Auth., Rev. Ref. Bonds (Greencroft Obligated Group), Series 2023-A, 4.00% 11/15/2037  | 1075 | 1041 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2020-A, 3.75% 1/1/2049  | 30 | 30 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-B, 3.00% 7/1/2050  | 55 | 54 |
| Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2025-1A, AMT, 5.00% <br> 6/1/2028  | 145 | 150 |
| Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2025-1A, AMT, 5.00% <br> 6/1/2029  | 90 | 94 |
| Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2022-1A, AMT, 5.00% <br> 6/1/2030  | 40 | 42 |
| Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2022-1A, AMT, 5.00% <br> 6/1/2031  | 40 | 42 |
| Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2025-1A, AMT, 4.00% <br> 6/1/2046  | 60 | 58 |
| City of Valparaiso, Exempt Facs. Rev. Ref. Bonds (Pratt Paper (IN), LLC Project), Series 2024, AMT, 4.50% 1/1/2034 <sup>(a)</sup>  | 130 | 133 |
| City of Valparaiso, Exempt Facs. Rev. Ref. Bonds (Pratt Paper (IN), LLC Project), Series 2024, AMT, 4.875% 1/1/2044 <sup>(a)</sup>  | 285 | 286 |
| City of Valparaiso, Exempt Facs. Rev. Ref. Bonds (Pratt Paper (IN), LLC Project), Series 2024, AMT, 5.00% 1/1/2054 <sup>(a)</sup>  | 915 | 891 |
| City of Whiting, Environmental Facs. Rev. Bonds (BP Products North America, Inc. Project), Series 2008, 4.20% <br> 6/1/2044 (put 6/2/2035)  | 765 | 805 |
| City of Whiting, Environmental Facs. Rev. Bonds (BP Products North America, Inc. Project), Series 2021, AMT, 3.00% <br> 11/1/2051  | 3670 | 2649 |
| City of Whiting, Environmental Facs. Rev. Ref. Bonds (BP Products North America, Inc. Project), Series 2019-A, AMT, <br> 5.00% 12/1/2044 (put 6/15/2026)  | 135 | 136 |
|  |  | 31201 |
| **Iowa 0.74%** | **Iowa 0.74%** | **Iowa 0.74%** |
| Fin. Auth., Midwestern Disaster Area Rev. Bonds (Alcoa Inc. Project), Series 2012, 4.75% 8/1/2042  | 1335 | 1335 |
| Fin. Auth., Midwestern Disaster Area Rev. Ref. Bonds (Iowa Fertilizer Co. Project), Series 2022, 5.00% 12/1/2050 (put <br> 12/1/2042)  | 1050 | 1208 |
| Fin. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2024-A, 5.00% 5/15/2049  | 365 | 340 |
| Fin. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2021-A, 4.00% 5/15/2053  | 225 | 173 |
| Fin. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2023-B, 7.50% 5/15/2053  | 410 | 453 |
| Fin. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2019-A-1, 5.00% 5/15/2055  | 160 | 147 |
| Fin. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2024-A, 5.125% 5/15/2059  | 680 | 630 |
| Fin. Auth., Rev. Bonds (Wesley Retirement Services, Inc.), Series 2025-BC, 6.00% 12/1/2055  | 3380 | 3396 |
| Fin. Auth., Senior Housing Rev. Bonds (Northcrest, Inc. Project), Series 2018-A, 5.00% 3/1/2028  | 25 | 25 |
| Fin. Auth., Senior Housing Rev. Bonds (Northcrest, Inc. Project), Series 2018-A, 5.00% 3/1/2033  | 110 | 111 |
| Fin. Auth., Senior Housing Rev. Bonds (Northcrest, Inc. Project), Series 2018-A, 5.00% 3/1/2038  | 125 | 126 |
| Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2021-B, 3.00% 7/1/2051  | 100 | 99 |
| Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2022-D, 4.00% 7/1/2052  | 500 | 505 |
| PEFA, Inc., Gas Project Rev. Bonds, Series 2019, 5.00% 9/1/2049 (put 9/1/2026)  | 245 | 247 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2023-B, AMT, 5.00% 12/1/2028  | 20 | 21 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2024-B, AMT, 5.00% 12/1/2031  | 70 | 75 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2024-B, AMT, 5.00% 12/1/2032  | 65 | 70 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2024-B, AMT, 5.00% 12/1/2033  | 100 | 108 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2024-B, AMT, 5.00% 12/1/2034  | 115 | 124 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2019-B, AMT, 3.00% 12/1/2039  | 155 | 151 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2019-C, AMT, 3.50% 12/1/2044  | 1260 | 999 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2025-B, AMT, 4.50% 12/1/2045  | 245 | 253 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **142** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Iowa (continued)** | **Iowa (continued)** | **Iowa (continued)** |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2024-C, AMT, 5.00% 12/1/2054  | USD<br> 500<br>| $480 |
| Tobacco Settlement Auth., Tobacco Settlement Asset-Backed Bonds, CAB, Series 2021-B-2, 0% 6/1/2065  | 49530 | 7099 |
| Board of Regents of the University of Iowa, Hospital Rev. Bonds (University of Iowa Hospitals and Clinics), Series <br> 2022-B, 3.00% 9/1/2056  | 440 | 314 |
|  |  | 18489 |
| **Kansas 0.49%** | **Kansas 0.49%** | **Kansas 0.49%** |
| City of Hitchinson, Health Care Facs. Rev. Ref. Bonds (Wesley Towers, Inc.), Series 2016-A, 4.00% 11/1/2031  | 30 | 28 |
| City of Lenexa, Health Care Fac. Rev. Bonds (Lakeview Village, Inc. Project), Series 2018-A, 5.00% 5/15/2027  | 85 | 86 |
| City of Lenexa, Health Care Fac. Rev. Bonds (Lakeview Village, Inc. Project), Series 2018-A, 5.00% 5/15/2029  | 135 | 137 |
| City of Lenexa, Health Care Fac. Rev. Bonds (Lakeview Village, Inc. Project), Series 2018-A, 5.00% 5/15/2031  | 150 | 152 |
| City of Lenexa, Health Care Fac. Rev. Bonds (Lakeview Village, Inc. Project), Series 2018-A, 5.00% 5/15/2032  | 30 | 31 |
| City of Lenexa, Health Care Fac. Rev. Bonds (Lakeview Village, Inc. Project), Series 2018-A, 5.00% 5/15/2039  | 760 | 764 |
| City of Lenexa, Health Care Fac. Rev. Bonds (Lakeview Village, Inc. Project), Series 2017-A, 5.00% 5/15/2043  | 460 | 457 |
| City of Manhattan, Health Care Facs. Rev. Bonds (Meadowlark Hills), Series 2021-A, 4.00% 6/1/2028  | 35 | 35 |
| City of Manhattan, Health Care Facs. Rev. Bonds (Meadowlark Hills), Series 2021-A, 4.00% 6/1/2036  | 535 | 515 |
| City of Manhattan, Health Care Facs. Rev. Bonds (Meadowlark Hills), Series 2021-A, 4.00% 6/1/2046  | 590 | 491 |
| City of Manhattan, Health Care Facs. Rev. Bonds (Meadowlark Hills), Series 2022-A, 3.60% 6/1/2047  | 240 | 184 |
| City of Manhattan, Health Care Facs. Rev. Bonds (Meadowlark Hills), Series 2022-A, 4.00% 6/1/2052  | 695 | 551 |
| City of Manhattan, Health Care Facs. Rev. Bonds (Meadowlark Hills), Series 2025-A, 5.50% 6/1/2055  | 325 | 326 |
| City of Manhattan, Health Care Facs. Rev. Bonds (Meadowlark Hills), Series 2025-A, 5.50% 6/1/2060  | 1070 | 1064 |
| City of Overland Park, Special Obligation Sales Tax Rev. Bonds (Bluhawk Star Bond Project), Series 2022-A, 6.00% <br> 11/15/2034 <sup>(a)</sup>  | 290 | 305 |
| City of Wichita, Multi Family Housing Rev. Bonds (Market Centre Apartments), Series 2025-4, 3.15% 2/1/2030 (put <br> 2/1/2029)  | 360 | 361 |
| Unified Government of Wyandotte County, Special Obligation Improvement Rev. Ref. Bonds (Wyandotte Plaza Redev. <br> Project), Series 2016, 5.00% 12/1/2034  | 245 | 241 |
| Unified Government of Wyandotte County, Special Obligation Rev. Bonds (Vacation Village Project Area 1 and 2A), <br> Series 2015-A, 5.75% 9/1/2032  | 590 | 567 |
| Unified Government of Wyandotte County, Special Obligation Rev. Bonds (Village East Project Area Nos. 2B, 3 and 5), <br> Series 2022, 5.25% 9/1/2035 <sup>(a)</sup>  | 2775 | 2799 |
| Unified Government of Wyandotte County, Special Obligation Rev. Bonds (Village East Project Area Nos. 2B, 3 and 5), <br> Series 2022, 5.75% 9/1/2039 <sup>(a)</sup>  | 2940 | 2992 |
|  |  | 12086 |
| **Kentucky 0.73%** | **Kentucky 0.73%** | **Kentucky 0.73%** |
| City of Ashland, Medical Center Rev. Bonds (Ashland Hospital Corp. - King's Daughters Medical Center Project), Series <br> 2016-A, 5.00% 2/1/2028  | 135 | 135 |
| City of Ashland, Medical Center Rev. Bonds (Ashland Hospital Corp. - King's Daughters Medical Center Project), Series <br> 2016-A, 5.00% 2/1/2030  | 180 | 180 |
| City of Ashland, Medical Center Rev. Bonds (Ashland Hospital Corp. - King's Daughters Medical Center Project), Series <br> 2016-A, 4.00% 2/1/2032  | 55 | 55 |
| City of Ashland, Medical Center Rev. Bonds (Ashland Hospital Corp. - King's Daughters Medical Center Project), Series <br> 2016-A, 4.00% 2/1/2036  | 310 | 310 |
| City of Ashland, Medical Center Rev. Bonds (Ashland Hospital Corp. - King's Daughters Medical Center Project), Series <br> 2016-A, 5.00% 2/1/2040  | 235 | 235 |
| City of Ashland, Medical Center Rev. Ref. Bonds (Ashland Hospital Corp. - King's Daughters Medical Center Project), <br> Series 2019, 5.00% 2/1/2032  | 100 | 107 |
| City of Ashland, Medical Center Rev. Ref. Bonds (Ashland Hospital Corp. - King's Daughters Medical Center Project), <br> Series 2019, 4.00% 2/1/2034  | 110 | 110 |
| City of Ashland, Medical Center Rev. Ref. Bonds (Ashland Hospital Corp. - King's Daughters Medical Center Project), <br> Series 2019, 4.00% 2/1/2036  | 40 | 40 |
| City of Ashland, Medical Center Rev. Ref. Bonds (Ashland Hospital Corp. - King's Daughters Medical Center Project), <br> Series 2019, 4.00% 2/1/2037  | 85 | 84 |
| County of Carroll, Environmental Facs. Rev. Bonds, Series 2008-A, 2.00% 2/1/2032  | 445 | 400 |
| County of Carroll, Environmental Facs. Rev. Ref. Bonds, Series 2006-B, AMT, 2.125% 10/1/2034  | 220 | 189 |
| Econ. Dev. Fin. Auth., Health System Rev. Bonds (Norton Healthcare, Inc.), CAB, Series 2000-B, NATL, 0% 10/1/2026  | 515 | 500 |
| Econ. Dev. Fin. Auth., Health System Rev. Bonds (Norton Healthcare, Inc.), CAB, Series 2000-B, NATL, 0% 10/1/2027  | 400 | 374 |
| Econ. Dev. Fin. Auth., Healthcare Facs. Rev. and Rev. Ref. Bonds (Rosedale Green Project), Series 2015, 5.50% <br> 11/15/2035  | 65 | 64 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **143** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Kentucky (continued)** | **Kentucky (continued)** | **Kentucky (continued)** |
| Econ. Dev. Fin. Auth., Healthcare Facs. Rev. and Rev. Ref. Bonds (Rosedale Green Project), Series 2015, 5.75% <br> 11/15/2045  | USD<br> 510<br>| $454 |
| Econ. Dev. Fin. Auth., Healthcare Facs. Rev. and Rev. Ref. Bonds (Rosedale Green Project), Series 2015, 5.75% <br> 11/15/2050  | 170 | 146 |
| Econ. Dev. Fin. Auth., Hospital Rev. Bonds (Baptist Healthcare System Obligated Group), Series 2017-B, 5.00% <br> 8/15/2041  | 430 | 438 |
| Econ. Dev. Fin. Auth., Louisville Arena Project Rev. Ref. Bonds (Louisville Arena Auth., Inc.), Series 2017-A, AGI, 5.00% <br> 12/1/2045  | 665 | 672 |
| City of Henderson, Exempt Facs. Rev. Bonds (Pratt Paper, LLC Project), Series 2022-B, AMT, 3.70% 1/1/2032 <sup>(a)</sup>  | 1500 | 1500 |
| City of Henderson, Exempt Facs. Rev. Bonds (Pratt Paper, LLC Project), Series 2022-A, AMT, 4.45% 1/1/2042 <sup>(a)</sup>  | 440 | 432 |
| City of Henderson, Exempt Facs. Rev. Bonds (Pratt Paper, LLC Project), Series 2022-B, AMT, 4.45% 1/1/2042 <sup>(a)</sup>  | 130 | 128 |
| City of Henderson, Exempt Facs. Rev. Bonds (Pratt Paper, LLC Project), Series 2022-A, AMT, 4.70% 1/1/2052 <sup>(a)</sup>  | 2735 | 2557 |
| City of Henderson, Exempt Facs. Rev. Bonds (Pratt Paper, LLC Project), Series 2022-B, AMT, 4.70% 1/1/2052 <sup>(a)</sup>  | 570 | 533 |
| Higher Education Student Loan Corp., Student Loan Rev. Bonds, Series 2025-A-1, AMT, 5.00% 6/1/2034  | 220 | 232 |
| Higher Education Student Loan Corp., Student Loan Rev. Bonds, Series 2025-A-1, AMT, 5.00% 6/1/2035  | 250 | 263 |
| Higher Education Student Loan Corp., Student Loan Rev. Bonds, Series 2023-A-1, AMT, 4.00% 6/1/2037  | 1000 | 990 |
| Higher Education Student Loan Corp., Student Loan Rev. Bonds, Series 2025-A-1, AMT, 4.75% 6/1/2040  | 370 | 380 |
| Housing Corp., Single Family Mortgage Rev. Bonds, Series 2024-A, 6.25% 7/1/2054  | 165 | 183 |
| Housing Corp., Single Family Mortgage Rev. Bonds, Series 2024-C, 6.25% 1/1/2055  | 105 | 114 |
| Housing Corp., Single Family Mortgage Rev. Bonds, Series 2024-E, 6.25% 7/1/2055  | 105 | 115 |
| Kentucky State University, Certs. of Part. (Kentucky State University Project), Series 2021, BAM, 4.00% 11/1/2041  | 85 | 86 |
| Louisville/Jefferson Metro County Government, Health System Rev. Bonds (Norton Healthcare, Inc.), Series 2016-A, <br> 5.00% 10/1/2029  | 280 | 284 |
| Louisville/Jefferson Metro County Government, Health System Rev. Bonds (Norton Healthcare, Inc.), Series 2016-A, <br> 5.00% 10/1/2033  | 1220 | 1235 |
| Louisville/Jefferson Metro County Government, Health System Rev. Bonds (Norton Healthcare, Inc.), Series 2020-A, <br> 3.00% 10/1/2043  | 50 | 40 |
| Louisville/Jefferson Metro County Government, Hospital Rev. Bonds (UofL Health Project), Series 2022-A, 5.00% <br> 5/15/2052  | 705 | 696 |
| Louisville/Jefferson Metro County Government, Pollution Control Rev. Bonds (Louisville Gas and Electric Co. Project), <br> Series 2003-A, 2.00% 10/1/2033  | 130 | 114 |
| City of Paducah, Electric Plant Board, Rev. Ref. Bonds, Series 2016-A, AGI, 5.00% 10/1/2035  | 165 | 167 |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2022-A-1, 4.00% 8/1/2052 (put 8/1/2030)  | 175 | 177 |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2024-A-1, 5.00% 5/1/2055 (put 7/1/2030)  | 115 | 121 |
| Public Energy Auth., Gas Supply Rev. Ref. Bonds, Series 2023-A-1, 5.25% 4/1/2054 (put 2/1/2032)  | 900 | 973 |
| Public Energy Auth., Gas Supply Rev. Ref. Bonds, Series 2024-B, 5.00% 1/1/2055 (put 8/1/2032)  | 450 | 484 |
| Public Energy Auth., Gas Supply Rev. Ref. Bonds, Series 2025-A, 5.25% 6/1/2055 (put 12/1/2029)  | 1395 | 1476 |
| Public Transportation Infrastructure Auth., Toll Rev. Ref. Bonds, Series 2021-B, AGI, 4.00% 7/1/2049 <sup>(a)</sup>  | 90 | 85 |
| Public Transportation Infrastructure Auth., Toll Rev. Ref. Bonds, Series 2021-B, AGI, 4.00% 7/1/2053 <sup>(a)</sup>  | 205 | 188 |
|  |  | 18046 |
| **Louisiana 1.19%** | **Louisiana 1.19%** | **Louisiana 1.19%** |
| Aviation Board, General Airport Rev. Ref. Bonds, Series 2024-B, AMT, 5.00% 1/1/2034  | 80 | 89 |
| Parish of Calcasieu, Memorial Hospital Service Dist., Hospital Rev. Ref. Bonds (Lake Charles Memorial Hospital Project), <br> Series 2019, 5.00% 12/1/2034  | 140 | 142 |
| Parish of Calcasieu, Memorial Hospital Service Dist., Hospital Rev. Ref. Bonds (Lake Charles Memorial Hospital Project), <br> Series 2019, 5.00% 12/1/2039  | 1635 | 1597 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (Christwood Project), Series 2024, <br> 4.25% 11/15/2030 <sup>(a)</sup>  | 100 | 101 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (Christwood Project), Series 2024, <br> 5.00% 11/15/2037 <sup>(a)</sup>  | 195 | 202 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (Entergy Louisiana, LLC Projects), <br> Series 2021-B, 2.50% 4/1/2036  | 6565 | 5637 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (Ragin' Cajun Facs., Inc. Project), <br> Series 2017, AGI, 5.00% 10/1/2039  | 115 | 117 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (Westlake Chemical Corp. <br> Projects), Series 2017, 3.50% 11/1/2032  | 1895 | 1881 |
| Public Facs. Auth., Lease Rev. Bonds (Provident Group - Flagship Properties, LLC - Louisiana State University <br> Greenhouse Dist. Phase II Project), Series 2017, 5.00% 7/1/2052  | 85 | 85 |
| Public Facs. Auth., Lease Rev. Bonds (Provident Group - Flagship Properties, LLC - Louisiana State University <br> Greenhouse Dist. Phase III Project), Series 2019-A, 5.00% 7/1/2059  | 835 | 831 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **144** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Louisiana (continued)** | **Louisiana (continued)** | **Louisiana (continued)** |
| Public Facs. Auth., Lease Rev. Bonds (Provident Group - Flagship Properties, LLC - Louisiana State University Nicholson <br> Gateway Project), Series 2016-A, 5.00% 7/1/2051  | USD<br> 590<br>| $589 |
| Public Facs. Auth., Lease Rev. Bonds (Provident Group - Flagship Properties, LLC - Louisiana State University Nicholson <br> Gateway Project), Series 2016-A, 5.00% 7/1/2056  | 115 | 115 |
| Public Facs. Auth., Lease Rev. Bonds (South Quad L3C - Louisiana State University South Quad Phase IV Project), Series <br> 2025, AGI, 5.25% 7/1/2055  | 665 | 695 |
| Public Facs. Auth., Lease Rev. Bonds (South Quad L3C - Louisiana State University South Quad Phase IV Project), Series <br> 2025, AGI, 4.75% 7/1/2065  | 2000 | 1949 |
| Public Facs. Auth., Rev. Bonds (BBR Schools - Mid City Campus Project), Series 2021-A, 4.00% 6/1/2041 <sup>(a)</sup>  | 305 | 255 |
| Public Facs. Auth., Rev. Bonds (BBR Schools - Mid City Campus Project), Series 2021-C, 4.00% 6/1/2051 <sup>(a)</sup>  | 205 | 148 |
| Public Facs. Auth., Rev. Bonds (BBR Schools - Mid City Campus Project), Series 2021-A, 4.00% 6/1/2051 <sup>(a)</sup>  | 295 | 214 |
| Public Facs. Auth., Rev. Bonds (BBR Schools - Mid City Campus Project), Series 2021-A, 4.00% 6/1/2056 <sup>(a)</sup>  | 245 | 172 |
| Public Facs. Auth., Rev. Bonds (BBR Schools - Mid City Campus Project), Series 2021-C, 4.00% 6/1/2056 <sup>(a)</sup>  | 140 | 98 |
| Public Facs. Auth., Rev. Bonds (Provident Group - HSC Properties, Inc. - LSU Health Foundations, New Orleans Project), <br> Series 2006, 5.10% 1/1/2057 <sup>(a)</sup>  | 1385 | 1052 |
| Public Facs. Auth., Rev. Bonds, (I-10 Calcasieu River Bridge Public-Private Partnership Project), Series 2024, AMT, 5.50% <br> 9/1/2059  | 110 | 111 |
| Public Facs. Auth., Rev. Bonds, (I-10 Calcasieu River Bridge Public-Private Partnership Project), Series 2024, AMT, 5.75% <br> 9/1/2064  | 785 | 809 |
| Public Facs. Auth., Rev. Ref. Bonds (Acadiana Renaissance Charter Academy Project), Series 2025, 6.00% 6/15/2045 <sup>(a)</sup>  | 420 | 430 |
| Public Facs. Auth., Rev. Ref. Bonds (Acadiana Renaissance Charter Academy Project), Series 2025, 6.15% 6/15/2055 <sup>(a)</sup>  | 4410 | 4485 |
| Public Facs. Auth., Rev. Ref. Bonds (Acadiana Renaissance Charter Academy Project), Series 2025, 6.20% 6/15/2055 <sup>(a)</sup>  | 545 | 547 |
| Public Facs. Auth., Rev. Ref. Bonds (Lake Charles Academy Foundation Project), Series 2024-A, 5.00% 12/15/2034 <sup>(a)</sup>  | 155 | 159 |
| Public Facs. Auth., Rev. Ref. Bonds (Lake Charles Academy Foundation Project), Series 2024-A, 5.00% 12/15/2043 <sup>(a)</sup>  | 415 | 399 |
| Public Facs. Auth., Rev. Ref. Bonds (Ochsner Clinic Foundation Project), Series 2020-A, 3.00% 5/15/2047  | 200 | 151 |
| Public Facs. Auth., Solid Waste Disposal Rev. Bonds (Waste Pro USA, Inc. Project), Series 2025, AMT, 4.375% 5/1/2053 <br> (put 10/2/2028) <sup>(a)</sup>  | 1740 | 1743 |
| Public Facs. Auth., Solid Waste Disposal Rev. Bonds (Waste Pro USA, Inc. Project), Series 2023-R-2, AMT, 6.50% <br> 10/1/2053 (put 10/1/2028) <sup>(a)</sup>  | 1080 | 1135 |
| Public Facs. Auth., Solid Waste Disposal Rev. Bonds (Waste Pro USA, Inc. Project), Series 2023, AMT, 6.75% 10/1/2053 <br> (put 10/1/2028) <sup>(a)</sup>  | 155 | 164 |
| Parish of St. James, Rev. Bonds (Nustar Logistics, LP Project), Series 2008, 6.10% 6/1/2038 (put 6/1/2030) <sup>(a)</sup>  | 450 | 496 |
| Parish of St. James, Rev. Bonds (Nustar Logistics, LP Project), Series 2010, 6.35% 7/1/2040 <sup>(a)</sup>  | 1000 | 1092 |
| Parish of St. James, Rev. Bonds (Nustar Logistics, LP Project), Series 2010-A, 6.35% 10/1/2040 <sup>(a)</sup>  | 215 | 235 |
| Parish of St. James, Rev. Bonds (Nustar Logistics, LP Project), Series 2010-B, 6.10% 12/1/2040 (put 6/1/2030) <sup>(a)</sup>  | 450 | 496 |
| Parish of St. James, Rev. Bonds (NuStar Logistics, LP Project), Series 2011, 3.70% 8/1/2041 (put 6/1/2030)  | 670 | 679 |
| Parish of St. John the Baptist, Rev. Ref. Bonds (Marathon Oil Corp. Project), Series 2017-B-2, 2.375% 6/1/2037 (put <br> 7/1/2026)  | 355 | 354 |
|  |  | 29454 |
| **Maine 0.07%** | **Maine 0.07%** | **Maine 0.07%** |
| Fin. Auth., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2024, AMT, 4.625% 12/1/2047 <br> (put 6/1/2035) <sup>(a)</sup>  | 840 | 847 |
| Fin. Auth., Student Loan Rev. Bonds, Series 2021-A-1, AGI, 5.00% 12/1/2026  | 10 | 10 |
| Fin. Auth., Student Loan Rev. Bonds, Series 2021-A-1, AGI, 5.00% 12/1/2027  | 15 | 15 |
| Fin. Auth., Student Loan Rev. Bonds, Series 2021-A-1, AGI, 5.00% 12/1/2028  | 15 | 16 |
| Fin. Auth., Student Loan Rev. Bonds, Series 2021-A-1, AGI, 5.00% 12/1/2029  | 15 | 16 |
| Fin. Auth., Student Loan Rev. Bonds, Series 2021-A-1, AGI, 5.00% 12/1/2030  | 25 | 27 |
| Fin. Auth., Student Loan Rev. Bonds (Supplemental Education Loan Program), Series 2025-A-1, AMT, AGI, 5.125% <br> 12/1/2041  | 135 | 136 |
| Fin. Auth., Student Loan Rev. Bonds (Supplemental Education Loan Program), Series 2025-A-1, AMT, AGI, 5.25% <br> 12/1/2043  | 125 | 126 |
| Fin. Auth., Student Loan Rev. Bonds (Supplemental Education Loan Program), Series 2025-A-1, AMT, AGI, 5.25% <br> 12/1/2044  | 140 | 141 |
| Fin. Auth., Student Loan Rev. Bonds (Supplemental Education Loan Program), Series 2025-A-1, AMT, AGI, 5.25% <br> 12/1/2045  | 110 | 111 |
| Fin. Auth., Student Loan Rev. Bonds (Supplemental Education Loan Program), Series 2025-A-1, AMT, AGI, 5.25% <br> 12/1/2046  | 90 | 91 |
| City of Portland, General Airport Rev. Ref. Bonds, Series 2016, 5.00% 1/1/2034  | 100 | 100 |
| City of Portland, General Airport Rev. Ref. Bonds, Series 2016, 5.00% 1/1/2035  | 100 | 100 |
|  |  | 1736 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **145** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Maryland 0.68%** | **Maryland 0.68%** | **Maryland 0.68%** |
| City of Baltimore, Stadium Auth., Build To Learn Rev. Bonds, Series 2024, 5.00% 6/1/2054  | USD<br> 210<br>| $217 |
| County of Baltimore, Rev. Bonds (Riderwood Village, Inc. Fac.), Series 2020, 4.00% 1/1/2050  | 445 | 391 |
| Mayor and City Council of Baltimore, Special Obligation Bonds (City-Wide Affordable Housing Program), Series 2025, <br> 5.00% 6/1/2045 <sup>(a)</sup>  | 825 | 820 |
| Mayor and City Council of Baltimore, Special Obligation Rev. Bonds, Series 2022, 5.00% 6/1/2051  | 1215 | 1215 |
| Mayor and City Council of Baltimore, Special Obligation Rev. Bonds (Harbor Point Project), Series 2019-B, 3.375% <br> 6/1/2029 <sup>(a)</sup>  | 235 | 232 |
| Mayor and City Council of Baltimore, Special Obligation Rev. Ref. Bonds, Series 2017-A, 4.50% 9/1/2033  | 455 | 458 |
| Mayor and City Council of Baltimore, Special Obligation Rev. Ref. Bonds, Series 2017-A, 5.00% 9/1/2038  | 190 | 192 |
| Mayor and Council of Brunswick, Special Obligation Rev. Ref. Bonds (Brunswick Crossing Special Taxing Dist.), Series <br> 2019, 4.00% 7/1/2029  | 85 | 85 |
| Mayor and Council of Brunswick, Special Obligation Rev. Ref. Bonds (Brunswick Crossing Special Taxing Dist.), Series <br> 2019, 5.00% 7/1/2036  | 315 | 321 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2019-C, 3.50% <br> 3/1/2050  | 25 | 25 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2021-C, 3.00% <br> 9/1/2051  | 260 | 256 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2023-E, 6.25% <br> 3/1/2054  | 110 | 119 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2024-C, 6.25% <br> 9/1/2055  | 775 | 869 |
| Econ. Dev. Corp., Econ. Dev. Rev. Bonds (Terminal Project), Series 2019-A, AMT, 5.00% 6/1/2044  | 80 | 81 |
| Econ. Dev. Corp., Econ. Dev. Rev. Bonds (Terminal Project), Series 2019-A, AMT, 5.00% 6/1/2049  | 140 | 141 |
| Econ. Dev. Corp., Econ. Dev. Rev. Ref. Bonds (Transportation Facs. Project), Series 2017-A, 5.00% 6/1/2029  | 205 | 214 |
| Econ. Dev. Corp., Econ. Dev. Rev. Ref. Bonds (Transportation Facs. Project), Series 2017-A, 5.00% 6/1/2032  | 110 | 114 |
| Econ. Dev. Corp., Port Facs. Rev. Ref. Bonds (Core Natural Resources, Inc. Project), Series 2025, 5.00% 7/1/2048 (put <br> 3/27/2035) <sup>(a)</sup>  | 1815 | 1902 |
| Econ. Dev. Corp., Special Obligation Bonds (Metro Centre at Owings Mills Project), Series 2017, 4.375% 7/1/2036  | 390 | 386 |
| Econ. Dev. Corp., Special Obligation Bonds (Metro Centre at Owings Mills Project), Series 2017, 4.50% 7/1/2044  | 850 | 798 |
| Econ. Dev. Corp., Student Housing Rev. Bonds (Bowie State University Project), Series 2020, 4.00% 7/1/2040  | 50 | 47 |
| Econ. Dev. Corp., Student Housing Rev. Bonds (Bowie State University Project), Series 2020, 4.00% 7/1/2050  | 165 | 136 |
| Econ. Dev. Corp., Student Housing Rev. Bonds (Morgan State University Harper-Tubman Project), Series 2025-A, 5.00% <br> 7/1/2045  | 220 | 229 |
| Econ. Dev. Corp., Student Housing Rev. Bonds (Morgan State University Harper-Tubman Project), Series 2025-A, AGI, <br> 5.00% 7/1/2060  | 235 | 239 |
| Econ. Dev. Corp., Student Housing Rev. Ref. Bonds (Frostburg State University Project), Series 2013, 5.00% 10/1/2033  | 110 | 110 |
| County of Frederick, Special Obligation Bonds (Urbana Community Dev. Auth.), Series 2020-C, 4.00% 7/1/2050 <sup>(a)</sup>  | 158 | 140 |
| County of Frederick, Tax Increment and Special Tax Obligation Rev. Ref. Bonds (Jefferson Technology Park Project), <br> Series 2020-B, 4.625% 7/1/2043 <sup>(a)</sup>  | 265 | 260 |
| City of Gaithersburg, Econ. Dev. Project Rev. Bonds (Asbury Maryland Obligated Group), Series 2022, 4.50% 1/1/2042  | 2060 | 2020 |
| City of Gaithersburg, Econ. Dev. Project Rev. Bonds (Asbury Maryland Obligated Group), Series 2022, 5.125% <br> 1/1/2042  | 370 | 377 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Broadmead Issue), Series 2018-A, 5.00% 7/1/2048  | 250 | 251 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Frederick Health System), Series 2020, 4.00% 7/1/2045  | 100 | 91 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Frederick Health System), Series 2020, 4.00% 7/1/2050  | 110 | 95 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Maryland Institute College of Art Issue), Series 2024, 5.25% <br> 6/1/2034  | 140 | 151 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Maryland Institute College of Art Issue), Series 2024, 5.50% <br> 6/1/2047  | 280 | 282 |
| County of Howard, Retirement Community Rev. Bonds (Vantage House Fac.), Series 2017, 5.00% 4/1/2044  | 57 | 53 |
| County of Howard, Special Obligation Bonds (Downtown Columbia), Series 2017-A, 4.375% 2/15/2039 <sup>(a)</sup>  | 265 | 263 |
| County of Howard, Special Obligation Bonds (Downtown Columbia), Series 2017-A, 4.50% 2/15/2047 <sup>(a)</sup>  | 1180 | 1100 |
| County of Prince George, Special Obligation Bonds (Hampton Park Project), Series 2019-A, 4.25% 7/1/2039 <sup>(a)</sup>  | 235 | 235 |
| County of Prince George, Special Obligation Bonds (Hampton Park Project), Series 2019-A, 4.375% 7/1/2048 <sup>(a)</sup>  | 635 | 592 |
| County of Prince George, Special Obligation Bonds (Suitland-Naylor Road Project), Series 2016, 5.00% 7/1/2046 <sup>(a)</sup>  | 190 | 190 |
| Washington Suburban Sanitary Dist., Consolidated Public Improvement Bonds, Series 2025, 4.00% 6/1/2051  | 205 | 195 |
| Washington Suburban Sanitary Dist., Consolidated Public Improvement Bonds, Series 2025, 4.00% 6/1/2052  | 205 | 194 |
| Washington Suburban Sanitary Dist., Consolidated Public Improvement Bonds, Series 2025, 4.00% 6/1/2053  | 570 | 539 |
| Washington Suburban Sanitary Dist., Consolidated Public Improvement Green Bonds, Series 2025, 4.00% 6/1/2054  | 160 | 151 |
|  |  | 16776 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **146** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Massachusetts 0.74%** | **Massachusetts 0.74%** | **Massachusetts 0.74%** |
| Dev. Fin. Agcy., Rev. Bonds (Boston College Issue), Series 2025-W, 5.00% 7/1/2055  | USD<br> 4,760<br>| $4973 |
| Dev. Fin. Agcy., Rev. Bonds (Boston Medical Center Issue), Series 2023-G, 5.25% 7/1/2052  | 275 | 275 |
| Dev. Fin. Agcy., Rev. Bonds (Brown University Health Obligated Group Issue), Series 2025-A, 5.50% 8/15/2050  | 250 | 259 |
| Dev. Fin. Agcy., Rev. Bonds (Linden Ponds, Inc. Issue), Series 2018, 5.00% 11/15/2028 <sup>(a)</sup>  | 105 | 108 |
| Dev. Fin. Agcy., Rev. Bonds (Linden Ponds, Inc. Issue), Series 2018, 5.00% 11/15/2033 <sup>(a)</sup>  | 440 | 454 |
| Dev. Fin. Agcy., Rev. Bonds (Linden Ponds, Inc. Issue), Series 2018, 5.00% 11/15/2038 <sup>(a)</sup>  | 470 | 484 |
| Dev. Fin. Agcy., Rev. Bonds (Linden Ponds, Inc. Issue), Series 2018, 5.125% 11/15/2046 <sup>(a)</sup>  | 755 | 765 |
| Dev. Fin. Agcy., Rev. Bonds (PRG Medford Properties, Inc. Issue - Tufts University Student Housing Project.), Series <br> 2025, 5.25% 6/1/2055  | 220 | 229 |
| Dev. Fin. Agcy., Rev. Bonds (PRG Medford Properties, Inc. Issue - Tufts University Student Housing Project.), Series <br> 2025, 5.25% 6/1/2060  | 145 | 150 |
| Dev. Fin. Agcy., Rev. Bonds (PRG Medford Properties, Inc. Issue - Tufts University Student Housing Project.), Series <br> 2025, 5.25% 6/1/2065  | 380 | 392 |
| Dev. Fin. Agcy., Rev. Bonds (Suffolk University Issue), Series 2025, 6.00% 7/1/2050  | 1285 | 1369 |
| Dev. Fin. Agcy., Rev. Bonds (Suffolk University Issue), Series 2025, 5.25% 7/1/2055  | 600 | 591 |
| Dev. Fin. Agcy., Rev. Bonds (UMass Memorial Health Care Obligated Group Issue), Series 2016-I, 5.00% 7/1/2029  | 195 | 197 |
| Dev. Fin. Agcy., Rev. Bonds (UMass Memorial Health Care Obligated Group Issue), Series 2016-I, 5.00% 7/1/2036  | 1295 | 1303 |
| Dev. Fin. Agcy., Rev. Green Bonds (Boston Medical Center Issue), Series 2015-D, 5.00% 7/1/2044  | 490 | 483 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Boston University Issue), Series 2025-B, 4.00% 10/1/2048  | 525 | 493 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Newbridge Charles Issue), Series 2017, 5.00% 10/1/2047 <sup>(a)</sup>  | 275 | 272 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Newbridge on the Charles, Inc. Issue), Series 20, 5.00% 10/1/2057 <sup>(a)</sup>  | 525 | 505 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Orchard Cove, Inc. Issue), Series 2019, 4.00% 10/1/2039  | 30 | 29 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Salem Community Corp. Issue), Series 2022, 5.00% 1/1/2027  | 605 | 609 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Salem Community Corp. Issue), Series 2022, 5.125% 1/1/2040  | 115 | 115 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Salem Community Corp. Issue), Series 2022, 5.25% 1/1/2050  | 385 | 357 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2024-B, AMT, 4.25% 7/1/2032  | 175 | 178 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2024-B, AMT, 5.00% 7/1/2032  | 100 | 108 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2019-B, AMT, 3.00% 7/1/2035  | 10 | 10 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2021-B, AMT, 2.00% 7/1/2037  | 210 | 175 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2022-B, AMT, 3.625% 7/1/2038  | 230 | 229 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2023-B, AMT, 4.25% 7/1/2044  | 120 | 120 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2024-D, AMT, 5.00% 7/1/2054  | 2080 | 2014 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2025-B, AMT, 5.50% 7/1/2055  | 115 | 117 |
| GO Bonds, Consolidated Loan, Series 2021-D, 5.00% 9/1/2050  | 500 | 515 |
| Housing Fin. Agcy., Housing Bonds, Series 2019-B-1, 2.75% 12/1/2034  | 50 | 46 |
| Housing Fin. Agcy., Single Family Housing Rev. Ref. Bonds, Series 188, AMT, 4.00% 6/1/2043  | 40 | 40 |
| Transportation Fund Rev. Bonds (Rail Enhancement Program), Series 2022-A, 5.00% 6/1/2050  | 330 | 339 |
|  |  | 18303 |
| **Michigan 1.11%** | **Michigan 1.11%** | **Michigan 1.11%** |
| Building Auth., Rev. and Rev. Ref. Bonds (Facs. Program), Series 2025-I, 5.25% 10/15/2050  | 235 | 251 |
| City of Detroit, Sewage Disposal System Rev. Ref. Bonds, Series 2006-D, AGI, (3-month USD CME Term SOFR x 0.67 + <br> 0.60%) 3.445% 7/1/2032 <sup>(b)</sup>  | 800 | 798 |
| City of Detroit, Unlimited Tax GO Bonds, Series 2018, 5.00% 4/1/2028  | 25 | 26 |
| City of Detroit, Unlimited Tax GO Bonds, Series 2018, 5.00% 4/1/2029  | 50 | 52 |
| City of Detroit, Unlimited Tax GO Bonds, Series 2018, 5.00% 4/1/2030  | 50 | 52 |
| City of Detroit, Unlimited Tax GO Bonds, Series 2018, 5.00% 4/1/2031  | 1365 | 1418 |
| City of Detroit, Unlimited Tax GO Bonds, Series 2021-A, 5.00% 4/1/2031  | 110 | 120 |
| City of Detroit, Unlimited Tax GO Bonds, Series 2018, 5.00% 4/1/2032  | 350 | 363 |
| City of Detroit, Unlimited Tax GO Bonds, Series 2018, 5.00% 4/1/2033  | 50 | 52 |
| City of Detroit, Unlimited Tax GO Bonds, Series 2018, 5.00% 4/1/2034  | 140 | 145 |
| City of Detroit, Unlimited Tax GO Bonds, Series 2018, 5.00% 4/1/2036  | 170 | 175 |
| City of Detroit, Unlimited Tax GO Bonds, Series 2018, 5.00% 4/1/2037  | 100 | 103 |
| City of Detroit, Unlimited Tax GO Bonds, Series 2018, 5.00% 4/1/2038  | 140 | 144 |
| City of Detroit, Unlimited Tax GO Bonds, Series 2021-A, 5.00% 4/1/2039  | 395 | 416 |
| City of Detroit, Unlimited Tax GO Bonds, Series 2021-A, 4.00% 4/1/2040  | 140 | 137 |
| City of Detroit, Unlimited Tax GO Bonds, Series 2021-A, 4.00% 4/1/2041  | 35 | 34 |
| City of Detroit, Unlimited Tax GO Bonds, Series 2021-A, 4.00% 4/1/2042  | 45 | 43 |
| City of Detroit, Unlimited Tax GO Bonds, Series 2023-C, 6.00% 5/1/2043  | 50 | 55 |
| City of Detroit, Unlimited Tax GO Bonds, Series 2021-A, 5.00% 4/1/2046  | 1330 | 1344 |
| City of Detroit, Unlimited Tax GO Bonds, Series 2021-A, 5.00% 4/1/2050  | 1880 | 1888 |
| City of Detroit, Unlimited Tax GO Bonds, Series 2020, 5.50% 4/1/2050  | 135 | 138 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **147** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Michigan (continued)** | **Michigan (continued)** | **Michigan (continued)** |
| Fin. Auth., Distributable State Aid Rev. and Rev. Ref. Bonds (Charter County of Wayne), Series 2020, 4.00% 11/1/2045  | USD<br> 100<br>| $97 |
| Fin. Auth., Hospital Rev. and Rev. Ref. Bonds (Trinity Health Credit Group), Series 2017-A, 4.00% 12/1/2040  | 440 | 435 |
| Fin. Auth., Hospital Rev. and Rev. Ref. Bonds (Trinity Health Credit Group), Series 2019-A-MI, 3.00% 12/1/2049  | 140 | 100 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Henry Ford Health System), Series 2016, 5.00% 11/15/2037  | 1165 | 1180 |
| Fin. Auth., Hospital Rev. Ref. Bonds (McLaren Health Care), Series 2019-A, 4.00% 2/15/2047  | 540 | 485 |
| City of Flint, Hospital Building Auth., Rev. and Rev. Ref. Bonds (Hurley Medical Center), Series 2020, 4.00% 7/1/2038  | 305 | 296 |
| City of Flint, Hospital Building Auth., Rev. Rental Bonds (Hurley Medical Center), Series 2013-B, 4.75% 7/1/2028  | 25 | 25 |
| City of Flint, Hospital Building Auth., Rev. Rental Bonds (Hurley Medical Center), Series 2013-A, 5.25% 7/1/2028  | 315 | 315 |
| City of Flint, Hospital Building Auth., Rev. Rental Bonds (Hurley Medical Center), Series 2013-A, 5.25% 7/1/2039  | 285 | 285 |
| City of Grand Rapids Econ. Dev. Corp., Limited Obligation Rev. Ref. Bonds (United Methodist Retirement Communities <br> Obligated Group - Porter Hills Presbyterian Village Project), Series 2020, 5.00% 5/15/2037  | 665 | 676 |
| City of Grand Rapids Econ. Dev. Corp., Limited Obligation Rev. Ref. Bonds (United Methodist Retirement Communities <br> Obligated Group - Porter Hills Presbyterian Village Project), Series 2020, 5.00% 5/15/2044  | 1165 | 1131 |
| City of Grand Rapids Econ. Dev. Corp., Rev. Bonds (Beacon Hill at Eastgate Project), Series 2025-A, 6.125% 11/1/2060  | 4000 | 3964 |
| City of Grand Rapids Econ. Dev. Corp., Rev. Ref. Bonds (Beacon Hill Estate Project), Series 2017-A, 4.00% 11/1/2027  | 135 | 134 |
| City of Grand Rapids Econ. Dev. Corp., Rev. Ref. Bonds (Beacon Hill Estate Project), Series 2017-A, 5.00% 11/1/2032  | 115 | 116 |
| City of Grand Rapids Econ. Dev. Corp., Rev. Ref. Bonds (Beacon Hill Estate Project), Series 2017-A, 5.00% 11/1/2037  | 1300 | 1297 |
| Great Lakes Water Auth., Water Supply System Rev. Ref. Bonds, Series 2016-B, 5.00% 7/1/2046  | 440 | 442 |
| Housing Dev. Auth., Rental Housing Rev. Bonds, Series 2021-A, 2.70% 10/1/2056  | 1025 | 656 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2016-B, 3.35% 12/1/2034  | 125 | 124 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2016-B, 3.50% 6/1/2047  | 5 | 5 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-A, 3.00% 6/1/2052  | 255 | 251 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2023-B, 5.75% 6/1/2054  | 570 | 612 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2024-A, 6.00% 6/1/2054  | 520 | 565 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2024-D, 6.25% 6/1/2055  | 220 | 242 |
| County of Kent, Gerald R. Ford International Airport Auth., Limited Tax GO Rev. Bonds, Series 2021, AMT, 5.00% <br> 1/1/2035  | 95 | 104 |
| County of Kent, Gerald R. Ford International Airport Auth., Limited Tax GO Rev. Bonds, Series 2021, AMT, 5.00% <br> 1/1/2036  | 65 | 71 |
| City of Kentwood Econ. Dev. Corp., Limited Obligation Rev. Ref. Bonds (Holland Home Obligated Group), Series 2019, <br> 5.00% 11/15/2032  | 140 | 145 |
| City of Kentwood Econ. Dev. Corp., Limited Obligation Rev. Ref. Bonds (Holland Home Obligated Group), Series 2016, <br> 5.00% 11/15/2037  | 1790 | 1799 |
| City of Kentwood Econ. Dev. Corp., Limited Obligation Rev. Ref. Bonds (Holland Home Obligated Group), Series 2019, <br> 5.00% 11/15/2041  | 250 | 252 |
| City of Kentwood Econ. Dev. Corp., Limited Obligation Rev. Ref. Bonds (Holland Home Obligated Group), Series 2022, <br> 4.00% 11/15/2043  | 885 | 780 |
| City of Kentwood Econ. Dev. Corp., Limited Obligation Rev. Ref. Bonds (Holland Home Obligated Group), Series 2021, <br> 4.00% 11/15/2045  | 265 | 225 |
| Board of Trustees of Michigan State University, Rev. Bonds, Series 2024-A, 5.00% 8/15/2049  | 435 | 457 |
| Strategic Fund, Limited Obligation Rev. and Rev. Ref. Bonds (United Methodist Retirement Communities, Inc. Project), <br> Series 2019, 5.00% 11/15/2034  | 130 | 133 |
| Strategic Fund, Limited Obligation Rev. and Rev. Ref. Bonds (United Methodist Retirement Communities, Inc. Project), <br> Series 2019, 5.00% 11/15/2049  | 250 | 233 |
| Strategic Fund, Limited Obligation Rev. Bonds (Consumers Energy Co. Project), Series 2019, AMT, 3.35% 10/1/2049 <br> (put 10/1/2027)  | 300 | 300 |
| Strategic Fund, Limited Obligation Rev. Green Bonds (Graphic Packaging International, LLC Coated Recycled Board <br> Machine Project), Series 2021, AMT, 4.00% 10/1/2061 (put 10/1/2026)  | 915 | 914 |
| Strategic Fund, Limited Obligation Rev. Ref. Bonds (Holland Home Obligated Group), Series 2019, 5.00% 11/15/2029  | 85 | 88 |
| Strategic Fund, Limited Obligation Rev. Ref. Bonds (Holland Home Obligated Group), Series 2019, 5.00% 11/15/2043  | 310 | 310 |
| Strategic Fund, Limited Obligation Rev. Ref. Bonds (United Methodist Retirement Communities Obligated Group - <br> Porter Hills Presbyterian Village Project), Series 2020, 5.00% 5/15/2037  | 255 | 259 |
| Strategic Fund, Limited Obligation Rev. Ref. Bonds (United Methodist Retirement Communities Obligated Group - <br> Porter Hills Presbyterian Village Project), Series 2020, 5.00% 5/15/2044  | 360 | 349 |
|  |  | 27606 |
| **Minnesota 0.34%** | **Minnesota 0.34%** | **Minnesota 0.34%** |
| City of Apple Valley, Senior Housing Rev. Bonds (PHS Apple Valley Senior Housing, Inc. - Orchard Path Phase II Project), <br> Series 2021, 4.00% 9/1/2051  | 55 | 44 |
| City of Apple Valley, Senior Housing Rev. Bonds (PHS Apple Valley Senior Housing, Inc. - Orchard Path Phase II Project), <br> Series 2021, 4.00% 9/1/2061  | 100 | 76 |
| Higher Education Supplemental Loan Auth., Rev. Bonds, Series 2018, AMT, 4.00% 11/1/2037  | 50 | 50 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **148** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Minnesota (continued)** | **Minnesota (continued)** | **Minnesota (continued)** |
| Higher Education Supplemental Loan Auth., Rev. Bonds, Series 2020, AMT, 2.65% 11/1/2038  | USD<br> 1,075<br>| $1002 |
| Higher Education Supplemental Loan Auth., Rev. Bonds, Series 2023, AMT, 4.00% 11/1/2042  | 1950 | 1889 |
| Housing Fin. Agcy., Homeownership Fin. Bonds (Mortgage-Backed Securities Pass-Through Program), Series 2017-I, <br> 2.80% 12/1/2047  | 21 | 18 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2014-C, AMT, 4.00% 1/1/2045  | 15 | 15 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2024-G, 6.50% 7/1/2054  | 2340 | 2561 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2025-C, 6.25% 7/1/2055  | 190 | 214 |
| City of Rochester, Health Care Facs. Rev. Bonds (Mayo Clinic), Series 2025-D, 1.70% 11/15/2064 <sup>(b)</sup>  | 2300 | 2300 |
| City of St. Paul, Housing and Redev. Auth., Charter School Lease Rev. Bonds (Great River School Project), Series <br> 2017-A, 5.50% 7/1/2052 <sup>(a)</sup>  | 190 | 179 |
|  |  | 8348 |
| **Mississippi 0.20%** | **Mississippi 0.20%** | **Mississippi 0.20%** |
| Business Fin. Corp., Rev. Ref. Bonds (System Energy Resources, Inc. Project), Series 2021, 2.375% 6/1/2044  | 1950 | 1266 |
| Business Fin. Corp., Solid Waste Disposal, Rev. Bonds (Waste Pro USA, Inc. Project), Series 2017, AMT, 5.00% 2/1/2036 <br> (put 8/2/2027) <sup>(a)</sup>  | 1410 | 1426 |
| Dev. Bank, Special Obligation Bonds (Magnolia Regional Health Center Project), Series 2021, 4.00% 10/1/2036 <sup>(a)</sup>  | 210 | 191 |
| Home Corp., Single Family Mortgage Rev. Bonds, Series 2018-A, 4.00% 12/1/2044  | 90 | 91 |
| Hospital Equipment and Facs. Auth., Rev. Bonds (Baptist Memorial Health Care), Series 2016-A, 5.00% 9/1/2046  | 965 | 960 |
| County of Lowndes, Solid Waste Disposal and Pollution Control Rev. Ref. Bonds (International Paper Co. Project), Series <br> 2022, 2.65% 4/1/2037 (put 4/1/2027) <sup>(d)</sup>  | 785 | 783 |
| County of Warren, Gulf Opportunity Zone Rev. Ref. Bonds (International Paper Co. Project), Series 2018, 4.00% <br> 9/1/2032  | 155 | 160 |
| County of Warren, Gulf Opportunity Zone Rev. Ref. Bonds (International Paper Co. Project), Series 2020-A, 4.20% <br> 5/1/2034  | 185 | 192 |
|  |  | 5069 |
| **Missouri 1.13%** | **Missouri 1.13%** | **Missouri 1.13%** |
| County of Cape Girardeau, Industrial Dev. Auth., Health Facs. Bonds (SoutheastHEALTH), Series 2017-A, 5.00% <br> 3/1/2036  | 170 | 173 |
| County of Cape Girardeau, Industrial Dev. Auth., Health Facs. Rev. Bonds (Southeast Health), Series 2021, 4.00% <br> 3/1/2041  | 125 | 125 |
| County of Cape Girardeau, Industrial Dev. Auth., Health Facs. Rev. Bonds (Southeast Missouri Hospital Assn.), Series <br> 2016-A, 6.00% 3/1/2033  | 315 | 317 |
| County of Cape Girardeau, Industrial Dev. Auth., Health Facs. Rev. Bonds (SoutheastHEALTH), Series 2021, 3.00% <br> 3/1/2046  | 640 | 500 |
| County of Cape Girardeau, Industrial Dev. Auth., Tax Increment and Special Dist. Rev. Bonds (Westpark Mall Redev. <br> Project), Series 2024, 5.50% 5/1/2044 <sup>(a)</sup>  | 390 | 377 |
| Dev. Fin. Board, Tax Increment and Special Dist. Rev Bonds (Lakeport Village Project), Series 2025-A, 6.50% <br>6/15/2045 <sup>(a)</sup>  | 750 | 743 |
| Dev. Fin. Board, Tax Increment and Special Dist. Rev Bonds (Lakeport Village Project), Series 2025-A, 6.75% <br>6/15/2055 <sup>(a)</sup>  | 1200 | 1176 |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (Bethesda Health Group, Inc.), Series 2021, 4.00% <br> 8/1/2036  | 500 | 478 |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (Bethesda Health Group, Inc.), Series 2015, 5.00% <br> 8/1/2040  | 285 | 285 |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (Bethesda Health Group, Inc.), Series 2021, 4.00% <br> 8/1/2041  | 450 | 404 |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (Bethesda Health Group, Inc.), Series 2015, 5.00% <br> 8/1/2045  | 230 | 222 |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (Cox Health Project), Series 2013-A, 5.00% 11/15/2048  | 1045 | 1045 |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (Saint Luke's Health System, Inc.), Series 2018-A, 4.00% <br> 11/15/2048  | 440 | 405 |
| Health and Educational Facs. Auth., Health Facs. Rev. Ref. Bonds (St. Anthony's Medical Center), Series 2015-B, 5.00% <br> 2/1/2045  | 145 | 145 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services Projects), Series 2019-C, <br> 4.00% 2/1/2033  | 95 | 96 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2019-C, 4.00% <br> 2/1/2034  | 195 | 196 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2016-B, 5.00% <br> 2/1/2034  | 275 | 275 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **149** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Missouri (continued)** | **Missouri (continued)** | **Missouri (continued)** |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2019-A, 5.00% <br> 2/1/2034  | USD<br> 300<br>| $307 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2019-C, 4.00% <br> 2/1/2042  | 170 | 156 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2021, 4.00% <br> 2/1/2042  | 1435 | 1313 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2019-A, 5.00% <br> 2/1/2042  | 1035 | 1040 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2016-B, 5.00% <br> 2/1/2046  | 250 | 245 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2019-C, 4.00% <br> 2/1/2048  | 1265 | 1062 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2024-A, 5.25% <br> 2/1/2048  | 1070 | 1075 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series <br> 2021-C, 3.25% 11/1/2052  | 100 | 99 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series <br> 2023-C, 6.00% 5/1/2053  | 3615 | 3983 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series <br> 2023-E, 6.50% 5/1/2054  | 110 | 123 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series <br> 2024-G, 5.50% 5/1/2055  | 285 | 306 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series <br> 2024-A, 5.75% 5/1/2055  | 695 | 764 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series <br> 2024-C, 6.00% 5/1/2055  | 720 | 798 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series <br> 2024-E, 6.00% 5/1/2055  | 1455 | 1617 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series <br> 2025-C, 5.75% 5/1/2056  | 310 | 339 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series <br> 2025-A, 6.00% 5/1/2056  | 560 | 614 |
| City of Joplin, Industrial Dev. Auth., Sales Tax Rev. Bonds (32nd Street Place Community Improvement Dist. Project), <br> Series 2021, 3.50% 11/1/2040  | 145 | 136 |
| City of Kansas City, Industrial Dev. Auth., Econ. Activity Tax Rev. Bonds (Historic Northeast Redev. Plan), Series <br> 2024-A-1, 5.00% 6/1/2046 <sup>(a)</sup>  | 1070 | 1044 |
| City of Lee's Summit, Industrial Dev. Auth., Senior Living Facs. Rev. Bonds (John Knox Village), Series 2024-A, 5.00% <br> 8/15/2039  | 575 | 594 |
| City of Lee's Summit, Industrial Dev. Auth., Senior Living Facs. Rev. Bonds (John Knox Village), Series 2024-A, 5.625% <br> 8/15/2054  | 60 | 60 |
| City of Lee's Summit, Industrial Dev. Auth., Senior Living Facs. Rev. Bonds (John Knox Village), Series 2024-A, 5.75% <br> 8/15/2059  | 55 | 56 |
| City of Lee's Summit, Special Obligation Tax Increment and Special Dist. Rev. Ref. and Improvement Bonds (Summit <br> Fair Project), Series 2017, 4.00% 11/1/2027 <sup>(a)</sup>  | 15 | 15 |
| City of Maryland Heights, Industrial Dev. Auth., Rev. Bonds (St. Louis Community Ice Center Project), Series 2018-A, <br> 4.375% 3/15/2030  | 65 | 59 |
| City of Maryland Heights, Industrial Dev. Auth., Rev. Bonds (St. Louis Community Ice Center Project), Series 2018-A, <br> 5.00% 3/15/2039  | 505 | 421 |
| City of Maryland Heights, Industrial Dev. Auth., Rev. Bonds (St. Louis Community Ice Center Project), Series 2018-A, <br> 5.00% 3/15/2049  | 840 | 630 |
| Municipal Fin. Corp., Leasehold Rev. Bonds (Convention Center Expansion and Improvement Projects), Series 2020, <br> AGI, 5.00% 10/1/2045  | 220 | 225 |
| Municipal Fin. Corp., Leasehold Rev. Bonds (Convention Center Expansion and Improvement Projects), Series 2020, <br> AGI, 5.00% 10/1/2049  | 110 | 112 |
| County of Phelps, Hospital Rev. Bonds (Phelps Health), Series 2025, 6.00% 12/1/2055  | 165 | 176 |
| County of Polk, Industrial Dev. Auth., Retirement Fac. Rev. Ref. and Improvement Bonds (Carpenters Home Estates, Inc. <br> Project), Series 2019-A, 5.00% 1/1/2049  | 580 | 552 |
| City of Rolla, Move Rolla Transportation Dev. Dist., Sales Tax Rev. Bonds, Series 2017, 4.50% 6/1/2036  | 20 | 20 |
| City of Saint Charles, Plaza at Noah's Ark Community Improvement Dist., Tax Increment and Improvement Dist. Rev. <br> Bonds, Series 2021, 3.00% 5/1/2026  | 65 | 65 |
| City of Saint Charles, Plaza at Noah's Ark Community Improvement Dist., Tax Increment and Improvement Dist. Rev. <br> Bonds, Series 2021, 3.00% 5/1/2030  | 200 | 192 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **150** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Missouri (continued)** | **Missouri (continued)** | **Missouri (continued)** |
| City of Saint Charles, Plaza at Noah's Ark Community Improvement Dist., Tax Increment and Improvement Dist. Rev. <br> Bonds, Series 2021, 3.125% 5/1/2035  | USD<br> 105<br>| $95 |
| City of St. Louis, Airport Rev. Ref. Bonds (Lambert-St. Louis International Airport), Series 2005, NATL, 5.50% 7/1/2026  | 95 | 96 |
| City of St. Louis, Industrial Dev. Auth., Tax Increment and Special Dist. Rev. Bonds (Union Station Phase 2 Redev. <br> Project), Series 2024-A, 4.875% 6/15/2034  | 95 | 97 |
| County of St. Louis, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (Nazareth Living Center), Series 2015-A, 5.00% <br> 8/15/2030  | 110 | 110 |
| County of St. Louis, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (Nazareth Living Center), Series 2015-A, 5.00% <br> 8/15/2035  | 155 | 154 |
| County of St. Louis, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (Nazareth Living Center), Series 2015-A, 5.125% <br> 8/15/2045  | 225 | 199 |
| County of St. Louis, Industrial Dev. Auth., Senior Living Facs. Rev. Bonds (Friendship Village St. Louis Obligated Group), <br> Series 2018-A, 5.125% 9/1/2048  | 615 | 597 |
| County of St. Louis, Industrial Dev. Auth., Senior Living Facs. Rev. Bonds (Friendship Village St. Louis Obligated Group), <br> Series 2018, 5.125% 9/1/2049  | 145 | 140 |
| County of St. Louis, Industrial Dev. Auth., Senior Living Facs. Rev. Bonds (Friendship Village St. Louis Obligated Group), <br> Series 2018, 5.25% 9/1/2053  | 870 | 845 |
| County of St. Louis, Industrial Dev. Auth., Senior Living Facs. Rev. Bonds (St. Andrew's Resources for Seniors Obligated <br> Group), Series 2015-A, 5.00% 12/1/2035  | 160 | 160 |
| County of Stoddard, Industrial Dev. Auth., Health Facs. Rev. Bonds (Southeast Missouri Hospital Assn.), Series 2016-B, <br> 6.00% 3/1/2037  | 355 | 357 |
| City of Town and Country, Town and Country Crossing Transportation Dev. Dist., Transportation Sales Tax Rev. Ref. <br> Bonds, Series 2020-A, 3.375% 4/1/2037  | 50 | 46 |
|  |  | 28056 |
| **Montana 0.12%** | **Montana 0.12%** | **Montana 0.12%** |
| City of Forsyth, Pollution Control Rev. Ref. Bonds (Avista Corp. Colstrip Project), Series 2010-A, 3.875% 10/1/2032  | 2055 | 2117 |
| City of Forsyth, Pollution Control Rev. Ref. Bonds (Avista Corp. Colstrip Project), Series 2010-A, 3.875% 3/1/2034  | 665 | 681 |
| Board of Housing, Single Family Mortgage Bonds, Series 2024-A, 6.00% 12/1/2054  | 50 | 54 |
| Board of Housing, Single Family Mortgage Bonds, Series 2024-B, 5.75% 6/1/2055  | 55 | 60 |
|  |  | 2912 |
| **Nebraska 0.04%** | **Nebraska 0.04%** | **Nebraska 0.04%** |
| Educational, Health, Cultural, and Social Sciences Fin. Auth., Rev. Bonds (Immanuel Retirement Communities <br> Obligated Group), Series 2019-A, 4.00% 1/1/2038  | 135 | 133 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2019-B, AMT, 4.00% 9/1/2049  | 195 | 195 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2023-C, 5.50% 9/1/2053  | 235 | 249 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2024-G, 6.00% 9/1/2054  | 290 | 323 |
|  |  | 900 |
| **Nevada 0.47%** | **Nevada 0.47%** | **Nevada 0.47%** |
| Dept. of Business and Industry, Charter School Rev. Bonds (Doral Academy of Nevada), Series 2017-A, 5.00% <br> 7/15/2047  | 320 | 296 |
| Dept. of Business and Industry, Lease Rev. Bonds (Somerset Academy), Series 2018-A, 4.50% 12/15/2029 <sup>(a)</sup>  | 155 | 155 |
| Dept. of Business and Industry, Lease Rev. Bonds (Somerset Academy), Series 2015-A, 5.125% 12/15/2045 <sup>(a)</sup>  | 100 | 96 |
| Dept. of Business and Industry, Lease Rev. Bonds (Somerset Academy), Series 2018-A, 5.00% 12/15/2048 <sup>(a)</sup>  | 210 | 195 |
| County of Clark, Pollution Control Rev. Ref. Bonds (Southern California Edison Co.), Series 2010, 2.10% 6/1/2031  | 645 | 589 |
| City of Las Vegas, Redev. Agcy., Tax Increment Rev. Ref. Bonds, Series 2016, 5.00% 6/15/2045  | 135 | 135 |
| City of Las Vegas, Special Improvement Dist. No. 611 (Sunstone Phase I and II), Local Improvement Bonds, Series <br> 2020, 3.50% 6/1/2030  | 25 | 24 |
| City of Las Vegas, Special Improvement Dist. No. 611 (Sunstone Phase I and II), Local Improvement Bonds, Series <br> 2020, 3.50% 6/1/2031  | 20 | 19 |
| City of Las Vegas, Special Improvement Dist. No. 611 (Sunstone Phase I and II), Local Improvement Bonds, Series <br> 2020, 3.75% 6/1/2032  | 60 | 57 |
| City of Las Vegas, Special Improvement Dist. No. 611 (Sunstone Phase I and II), Local Improvement Bonds, Series <br> 2020, 4.00% 6/1/2040  | 55 | 50 |
| City of Las Vegas, Special Improvement Dist. No. 611 (Sunstone Phase I and II), Local Improvement Bonds, Series <br> 2020, 4.125% 6/1/2050  | 660 | 560 |
| City of Las Vegas, Special Improvement Dist. No. 612 (Skye Hills), Local Improvement Bonds, Series 2020, 3.50% <br> 6/1/2035  | 25 | 23 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **151** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Nevada (continued)** | **Nevada (continued)** | **Nevada (continued)** |
| City of Las Vegas, Special Improvement Dist. No. 612 (Skye Hills), Local Improvement Bonds, Series 2020, 4.00% <br> 6/1/2050  | USD<br> 190<br>| $166 |
| City of Las Vegas, Special Improvement Dist. No. 812 (Summerlin Village 24), Local Improvement Rev. Ref. Bonds, <br> Series 2015, 5.00% 12/1/2026  | 70 | 70 |
| City of Las Vegas, Special Improvement Dist. No. 812 (Summerlin Village 24), Local Improvement Rev. Ref. Bonds, <br> Series 2015, 5.00% 12/1/2029  | 160 | 160 |
| City of Las Vegas, Special Improvement Dist. No. 812 (Summerlin Village 24), Local Improvement Rev. Ref. Bonds, <br> Series 2015, 5.00% 12/1/2035  | 235 | 235 |
| City of Las Vegas, Special Improvement Dist. No. 813 (Summerlin Village 26), Local Improvement Bonds, Series 2017, <br> 3.25% 6/1/2026  | 25 | 25 |
| City of Las Vegas, Special Improvement Dist. No. 813 (Summerlin Village 26), Local Improvement Bonds, Series 2017, <br> 3.50% 6/1/2027  | 30 | 30 |
| City of Las Vegas, Special Improvement Dist. No. 813 (Summerlin Village 26), Local Improvement Bonds, Series 2017, <br> 3.50% 6/1/2028  | 30 | 30 |
| City of Las Vegas, Special Improvement Dist. No. 813 (Summerlin Village 26), Local Improvement Bonds, Series 2017, <br> 4.00% 6/1/2033  | 135 | 133 |
| City of Las Vegas, Special Improvement Dist. No. 813 (Summerlin Village 26), Local Improvement Bonds, Series 2017, <br> 4.25% 6/1/2037  | 115 | 114 |
| City of Las Vegas, Special Improvement Dist. No. 813 (Summerlin Village 26), Local Improvement Bonds, Series 2017, <br> 4.375% 6/1/2042  | 145 | 141 |
| City of Las Vegas, Special Improvement Dist. No. 813 (Summerlin Village 26), Local Improvement Bonds, Series 2017, <br> 4.50% 6/1/2047  | 470 | 444 |
| City of Las Vegas, Special Improvement Dist. No. 814 (Summerlin Village 21 and 24A), Local Improvement Bonds, <br> Series 2019, 3.50% 6/1/2026  | 25 | 25 |
| City of Las Vegas, Special Improvement Dist. No. 814 (Summerlin Village 21 and 24A), Local Improvement Bonds, <br> Series 2019, 3.50% 6/1/2027  | 25 | 25 |
| City of Las Vegas, Special Improvement Dist. No. 814 (Summerlin Village 21 and 24A), Local Improvement Bonds, <br> Series 2019, 3.50% 6/1/2028  | 20 | 20 |
| City of Las Vegas, Special Improvement Dist. No. 814 (Summerlin Village 21 and 24A), Local Improvement Bonds, <br> Series 2019, 3.50% 6/1/2029  | 45 | 44 |
| City of Las Vegas, Special Improvement Dist. No. 814 (Summerlin Village 21 and 24A), Local Improvement Bonds, <br> Series 2019, 3.25% 6/1/2031  | 40 | 38 |
| City of Las Vegas, Special Improvement Dist. No. 814 (Summerlin Village 21 and 24A), Local Improvement Bonds, <br> Series 2019, 3.50% 6/1/2032  | 45 | 43 |
| City of Las Vegas, Special Improvement Dist. No. 814 (Summerlin Village 21 and 24A), Local Improvement Bonds, <br> Series 2019, 3.50% 6/1/2033  | 60 | 56 |
| City of Las Vegas, Special Improvement Dist. No. 814 (Summerlin Village 21 and 24A), Local Improvement Bonds, <br> Series 2019, 3.50% 6/1/2035  | 105 | 97 |
| City of Las Vegas, Special Improvement Dist. No. 814 (Summerlin Village 21 and 24A), Local Improvement Bonds, <br> Series 2019, 4.00% 6/1/2039  | 65 | 62 |
| City of Las Vegas, Special Improvement Dist. No. 814 (Summerlin Village 21 and 24A), Local Improvement Bonds, <br> Series 2019, 4.00% 6/1/2049  | 165 | 140 |
| City of Las Vegas, Special Improvement Dist. No. 815 (Summerlin Village 25), Local Improvement Bonds, Series 2020, <br> 4.75% 12/1/2040  | 125 | 127 |
| City of Las Vegas, Special Improvement Dist. No. 815 (Summerlin Village 25), Local Improvement Bonds, Series 2020, <br> 5.00% 12/1/2049  | 150 | 151 |
| City of Las Vegas, Special Improvement Dist. No. 816 (Summerlin Village 22), Local Improvement Bonds, Series 2021, <br> 2.75% 6/1/2033  | 60 | 53 |
| City of Las Vegas, Special Improvement Dist. No. 816 (Summerlin Village 22), Local Improvement Bonds, Series 2021, <br> 2.75% 6/1/2036  | 95 | 80 |
| City of Las Vegas, Special Improvement Dist. No. 816 (Summerlin Village 22), Local Improvement Bonds, Series 2021, <br> 3.00% 6/1/2041  | 125 | 99 |
| City of Las Vegas, Special Improvement Dist. No. 816 (Summerlin Village 22), Local Improvement Bonds, Series 2021, <br> 3.125% 6/1/2046  | 170 | 127 |
| City of Las Vegas, Special Improvement Dist. No. 816 (Summerlin Village 22), Local Improvement Bonds, Series 2021, <br> 3.125% 6/1/2051  | 215 | 152 |
| City of Las Vegas, Special Improvement Dist. No. 817 (Summerlin Village 29), Local Improvement Bonds, Series 2023, <br> 5.75% 6/1/2043  | 205 | 218 |
| City of Las Vegas, Special Improvement Dist. No. 817 (Summerlin Village 29), Local Improvement Bonds, Series 2023, <br> 6.00% 6/1/2048  | 40 | 42 |
| City of Las Vegas, Special Improvement Dist. No. 817 (Summerlin Village 29), Local Improvement Bonds, Series 2023, <br> 6.00% 6/1/2053  | 80 | 84 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **152** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Nevada (continued)** | **Nevada (continued)** | **Nevada (continued)** |
| City of Las Vegas, Special Improvement Dist. No. 818 (Summerlin Village 27), Local Improvement Bonds, Series 2024, <br> 4.75% 12/1/2033  | USD<br> 60<br>| $62 |
| City of Las Vegas, Special Improvement Dist. No. 818 (Summerlin Village 27), Local Improvement Bonds, Series 2024, <br> 5.00% 12/1/2044  | 205 | 207 |
| City of Las Vegas, Special Improvement Dist. No. 818 (Summerlin Village 27), Local Improvement Bonds, Series 2024, <br> 5.00% 12/1/2049  | 140 | 138 |
| City of Las Vegas, Special Improvement Dist. No. 818 (Summerlin Village 27), Local Improvement Bonds, Series 2024, <br> 5.00% 12/1/2054  | 370 | 360 |
| City of Las Vegas, Special Improvement Dist. No. 819 (Summerlin Village 30A), Local Improvement Bonds, Series 2025, <br> 4.50% 6/1/2035  | 150 | 151 |
| City of Las Vegas, Special Improvement Dist. No. 819 (Summerlin Village 30A), Local Improvement Bonds, Series 2025, <br> 5.25% 6/1/2045  | 600 | 606 |
| City of Las Vegas, Special Improvement Dist. No. 819 (Summerlin Village 30A), Local Improvement Bonds, Series 2025, <br> 5.50% 6/1/2055  | 925 | 939 |
| City of Las Vegas, Special Improvement Dist. Nos. 808 and 810 (Summerlin Village 23B), Local Improvement Rev. Ref. <br> Bonds, Series 2014, 5.00% 6/1/2026  | 70 | 70 |
| City of Las Vegas, Special Improvement Dist. Nos. 808 and 810 (Summerlin Village 23B), Local Improvement Rev. Ref. <br> Bonds, Series 2014, 5.00% 6/1/2028  | 25 | 25 |
| City of Las Vegas, Special Improvement Dist. Nos. 808 and 810 (Summerlin Village 23B), Local Improvement Rev. Ref. <br> Bonds, Series 2014, 5.00% 6/1/2029  | 45 | 45 |
| City of Las Vegas, Special Improvement Dist. Nos. 808 and 810 (Summerlin Village 23B), Local Improvement Rev. Ref. <br> Bonds, Series 2014, 5.00% 6/1/2031  | 10 | 10 |
| City of North Las Vegas, Special Improvement Dist. No. 64 (Valley Vista), Local Improvement Bonds, Series 2019, 3.75% <br> 6/1/2026  | 20 | 20 |
| City of North Las Vegas, Special Improvement Dist. No. 64 (Valley Vista), Local Improvement Bonds, Series 2019, 3.75% <br> 6/1/2027  | 35 | 35 |
| City of North Las Vegas, Special Improvement Dist. No. 64 (Valley Vista), Local Improvement Bonds, Series 2019, <br> 3.875% 6/1/2028  | 50 | 50 |
| City of North Las Vegas, Special Improvement Dist. No. 64 (Valley Vista), Local Improvement Bonds, Series 2019, 4.00% <br> 6/1/2029  | 25 | 25 |
| City of North Las Vegas, Special Improvement Dist. No. 64 (Valley Vista), Local Improvement Bonds, Series 2019, 4.00% <br> 6/1/2030  | 35 | 35 |
| City of North Las Vegas, Special Improvement Dist. No. 64 (Valley Vista), Local Improvement Bonds, Series 2019, 4.25% <br> 6/1/2034  | 75 | 75 |
| City of North Las Vegas, Special Improvement Dist. No. 64 (Valley Vista), Local Improvement Bonds, Series 2019, 4.50% <br> 6/1/2039  | 145 | 145 |
| City of North Las Vegas, Special Improvement Dist. No. 64 (Valley Vista), Local Improvement Bonds, Series 2019, <br> 4.625% 6/1/2043  | 120 | 116 |
| City of North Las Vegas, Special Improvement Dist. No. 64 (Valley Vista), Local Improvement Bonds, Series 2019, <br> 4.625% 6/1/2049  | 400 | 371 |
| City of North Las Vegas, Special Improvement Dist. No. 66 (Villages at Tule Springs Village 1), Local Improvement <br> Bonds, Series 2022, 5.50% 6/1/2037 <sup>(a)</sup>  | 80 | 84 |
| City of North Las Vegas, Special Improvement Dist. No. 66 (Villages at Tule Springs Village 1), Local Improvement <br> Bonds, Series 2022, 5.75% 6/1/2042 <sup>(a)</sup>  | 120 | 124 |
| City of North Las Vegas, Special Improvement Dist. No. 66 (Villages at Tule Springs Village 1), Local Improvement <br> Bonds, Series 2022, 6.00% 6/1/2052 <sup>(a)</sup>  | 205 | 210 |
| City of Reno, Sales Tax Rev. Ref. Bonds (ReTRAC - Reno Transportation Rail Access Corridor Project), Series 2018-B, <br> AGI, 4.125% 6/1/2058  | 150 | 141 |
| City of Reno Dist. No. 1, Special Assessment and Local Improvement Bonds (Quilici Ranch), Series 2025, 4.25% <br> 6/1/2032 <sup>(a)</sup>  | 65 | 65 |
| City of Reno Dist. No. 1, Special Assessment and Local Improvement Bonds (Quilici Ranch), Series 2025, 4.375% <br> 6/1/2034 <sup>(a)</sup>  | 70 | 71 |
| City of Reno Dist. No. 1, Special Assessment and Local Improvement Bonds (Quilici Ranch), Series 2025, 4.50% <br> 6/1/2036 <sup>(a)</sup>  | 75 | 76 |
| City of Reno Dist. No. 1, Special Assessment and Local Improvement Bonds (Quilici Ranch), Series 2025, 5.00% <br> 6/1/2041 <sup>(a)</sup>  | 40 | 41 |
| City of Reno Dist. No. 1, Special Assessment and Local Improvement Bonds (Quilici Ranch), Series 2025, 5.25% <br> 6/1/2054 <sup>(a)</sup>  | 650 | 641 |
| City of Sparks, Special Improvement Dist. No. 1 (5 Ridges), Local Improvement Bonds, Series 2024, 5.00% 6/1/2026  | 15 | 15 |
| City of Sparks, Special Improvement Dist. No. 1 (5 Ridges), Local Improvement Bonds, Series 2024, 4.75% 6/1/2027  | 20 | 20 |
| City of Sparks, Special Improvement Dist. No. 1 (5 Ridges), Local Improvement Bonds, Series 2024, 4.50% 6/1/2028  | 20 | 20 |
| City of Sparks, Special Improvement Dist. No. 1 (5 Ridges), Local Improvement Bonds, Series 2024, 4.50% 6/1/2029  | 25 | 26 |
| City of Sparks, Special Improvement Dist. No. 1 (5 Ridges), Local Improvement Bonds, Series 2024, 4.50% 6/1/2031  | 25 | 26 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **153** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Nevada (continued)** | **Nevada (continued)** | **Nevada (continued)** |
| City of Sparks, Special Improvement Dist. No. 1 (5 Ridges), Local Improvement Bonds, Series 2024, 4.75% 6/1/2032  | USD<br> 15<br>| $16 |
| City of Sparks, Special Improvement Dist. No. 1 (5 Ridges), Local Improvement Bonds, Series 2024, 4.75% 6/1/2033  | 100 | 104 |
| City of Sparks, Special Improvement Dist. No. 1 (5 Ridges), Local Improvement Bonds, Series 2024, 4.75% 6/1/2034  | 100 | 104 |
| City of Sparks, Special Improvement Dist. No. 1 (5 Ridges), Local Improvement Bonds, Series 2024, 5.125% 6/1/2054  | 115 | 113 |
| County of Washoe, Water Facs. Rev. Ref. Bonds (Sierra Pacific Power Co. Projects), Series 2016-C, AMT, 4.125% <br> 3/1/2036 (put 10/1/2029)  | 335 | 343 |
| County of Washoe, Water Facs. Rev. Ref. Bonds (Sierra Pacific Power Co. Projects), Series 2016-F, AMT, 4.125% <br> 3/1/2036 (put 10/1/2029)  | 445 | 455 |
|  |  | 11610 |
| **New Hampshire 2.37%** | **New Hampshire 2.37%** | **New Hampshire 2.37%** |
| Business Fin. Auth., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2013, AMT, 2.95% <br> 4/1/2029 <sup>(a)</sup>  | 310 | 299 |
| Health and Education Facs. Auth., Education Loan Rev. Bonds (Granite Edvance Corp. Issue), Series 2024-B, AMT, <br> 4.00% 11/1/2044  | 175 | 170 |
| Health and Education Facs. Auth., Education Loan Rev. Bonds (New Hampshire Higher Education Loan Corp. Issue), <br> Series 2023-B, AMT, 5.00% 11/1/2043  | 305 | 323 |
| Health and Education Facs. Auth., Rev. Bonds (Dartmouth Health Obligated Group Issue), Series 2025, 5.50% 8/1/2050  | 485 | 518 |
| Health and Education Facs. Auth., Rev. Bonds (Elliot Hospital Issue), Series 2016, 5.00% 10/1/2031  | 125 | 126 |
| Housing Fin. Auth., Single Family Mortgage Rev. Bonds, Series 2023-C, 6.25% 1/1/2055  | 175 | 189 |
| Housing Fin. Auth., Single Family Mortgage Rev. Bonds, Series 2024-A, 6.25% 1/1/2055  | 385 | 419 |
| Housing Fin. Auth., Single Family Mortgage Rev. Bonds, Series 2023-D, 6.50% 7/1/2055  | 1575 | 1717 |
| National Fin. Auth., Affordable Housing Certs., Series 2024-1, Class A, 4.15% 10/20/2040 (put 10/1/2034)  | 124 | 125 |
| National Fin. Auth., Hospital Rev. Bonds (St. Luke's University Health Network Project), Series 2021-B, AGI, 3.00% <br> 8/15/2046  | 175 | 139 |
| National Fin. Auth., Hospital Rev. Bonds (St. Luke's University Health Network Project), Series 2021-B, AGI, 3.00% <br> 8/15/2051  | 1585 | 1161 |
| National Fin. Auth., Lease Rent Rev. Bonds (Centurion Foundation Woodway Drive, LLC), Series 2024-A, 4.53% <br> 10/15/2034 <sup>(a)</sup>  | 465 | 479 |
| National Fin. Auth., Lease Rent Rev. Bonds (Centurion Foundation Woodway Drive, LLC), Series 2024-B, 6.343% <br> 10/15/2034 <sup>(a)</sup>  | 315 | 324 |
| National Fin. Auth., Lease Rent Rev. Bonds (Centurion Foundation Woodway Drive, LLC), Series 2025-A, 5.05% <br> 6/15/2035 <sup>(a)</sup>  | 1105 | 1148 |
| National Fin. Auth., Municipal Certs., Series 2020-1, Class A, 4.125% 1/20/2034  | 5045 | 5142 |
| National Fin. Auth., Municipal Certs., Series 2022-1, Class A, 4.375% 9/20/2036  | 4505 | 4590 |
| National Fin. Auth., Municipal Certs., Series 2022-2, Class X, 0.675% 10/1/2036 <sup>(b)(c)</sup>  | 6580 | 272 |
| National Fin. Auth., Municipal Certs., Series 2022-2, Class A, 4.00% 10/20/2036  | 4870 | 4835 |
| National Fin. Auth., Municipal Certs., Series 2023-2, Class A, 3.875% 1/20/2038  | 3094 | 2991 |
| National Fin. Auth., Municipal Certs., Series 2024-2, Class X, 3.625% 8/20/2039  | 2780 | 2671 |
| National Fin. Auth., Municipal Certs., Series 2024-4, Class A-US, 4.064% 11/20/2039 <sup>(b)</sup>  | 124 | 123 |
| National Fin. Auth., Municipal Certs., Series 2024-4, Class B-CA, 3.81% 7/20/2040 <sup>(b)</sup>  | 3121 | 2883 |
| National Fin. Auth., Municipal Certs., Series 2025-1, Class A-1, 4.086% 1/20/2041 <sup>(b)</sup>  | 2325 | 2306 |
| National Fin. Auth., Municipal Certs., Series 2025-1, Class A-2, 4.086% 1/20/2041 <sup>(b)</sup>  | 294 | 276 |
| National Fin. Auth., Municipal Certs., Series 2025-3, Class A-1, 4.795% 2/20/2041 <sup>(b)</sup>  | 4352 | 4565 |
| National Fin. Auth., Municipal Certs., Series 2024-1, Class A, 4.25% 7/20/2041  | 3018 | 3037 |
| National Fin. Auth., Municipal Certs., Series 2024-3, Class A, 4.034% 10/20/2041 <sup>(b)</sup>  | 1648 | 1635 |
| National Fin. Auth., Municipal Certs., Series 2024-4, Class B-US, 4.064% 5/20/2042 <sup>(b)</sup>  | 2047 | 1849 |
| National Fin. Auth., Resource Recovery Rev. Ref. Bonds (Covanta Project), Series 2018-A, AMT, 4.00% 11/1/2027 <sup>(a)</sup>  | 100 | 99 |
| National Fin. Auth., Resource Recovery Rev. Ref. Bonds (Covanta Project), Series 2018-B, 4.625% 11/1/2042 <sup>(a)</sup>  | 250 | 217 |
| National Fin. Auth., Resource Recovery Rev. Ref. Bonds (Covanta Project), Series 2020-B, AMT, 3.75% 7/1/2045 (put <br> 7/2/2040) <sup>(a)</sup>  | 1180 | 971 |
| National Fin. Auth., Resource Recovery Rev. Ref. Green Bonds (Covanta Project), Series 2020-A, 3.625% 7/1/2043 (put <br> 7/2/2040) <sup>(a)</sup>  | 760 | 623 |
| National Fin. Auth., Rev. Bonds (Presbyterian Senior Living Project), Series 2023-A, 5.25% 7/1/2048  | 660 | 662 |
| National Fin. Auth., Rev. Bonds (Winston-Salem Sustainable Energy Partners), Series 2025-A, 5.50% 6/1/2050  | 180 | 188 |
| National Fin. Auth., Rev. Bonds (Winston-Salem Sustainable Energy Partners), Series 2025-A, 5.00% 6/1/2055  | 495 | 490 |
| National Fin. Auth., Rev. Bonds (Winston-Salem Sustainable Energy Partners), Series 2025-A, 5.50% 6/1/2055  | 800 | 833 |
| National Fin. Auth., Senior Living Rev. Ref. Bonds (Springpoint Senior Living Project), Series 2021, 4.00% 1/1/2041  | 1020 | 945 |
| National Fin. Auth., Senior Living Rev. Ref. Bonds (Springpoint Senior Living Project), Series 2021, 4.00% 1/1/2051  | 1275 | 1032 |
| National Fin. Auth., Special Rev. Bonds (Grand Prairie Project), Series 2024, 5.875% 12/15/2032 <sup>(a)</sup>  | 3445 | 3432 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **154** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **New Hampshire (continued)** | **New Hampshire (continued)** | **New Hampshire (continued)** |
| National Fin. Auth., Special Rev. Bonds (Lackland Projects, Special Fncg. Dists. in Fort Bend and Parker Counties), CAB, <br> Series 2025-A, 0% 2/1/2035 <sup>(a)</sup>  | USD<br> 2,105<br>| $1180 |
| National Fin. Auth., Specialty Pharmacy Rev. Bonds (University Hospitals Home Care Services, Inc.), Series 2024-A, <br> 5.625% 12/15/2033 <sup>(a)</sup>  | 2310 | 2381 |
| National Fin. Auth., Specialty Pharmacy Rev. Bonds (University Hospitals Home Care Services, Inc.), Series 2024-A, <br> 6.25% 12/15/2038 <sup>(a)</sup>  | 1320 | 1387 |
|  |  | 58752 |
| **New Jersey 1.25%** | **New Jersey 1.25%** | **New Jersey 1.25%** |
| County of Camden, Improvement Auth., Charter School Rev. Bonds (Camden Prep High School Project), Series 2022, <br> 5.00% 7/15/2052 <sup>(a)</sup>  | 220 | 215 |
| County of Camden, Improvement Auth., Charter School Rev. Bonds (Camden Prep High School Project), Series 2022, <br> 5.00% 7/15/2062 <sup>(a)</sup>  | 505 | 483 |
| Econ. Dev. Auth., Energy Fac. Rev. Bonds (UMM Energy Partners, LLC Project), Series 2012-A, AMT, 5.00% 6/15/2037  | 810 | 810 |
| Econ. Dev. Auth., Energy Fac. Rev. Bonds (UMM Energy Partners, LLC Project), Series 2012-A, AMT, 5.125% 6/15/2043  | 80 | 80 |
| Econ. Dev. Auth., Motor Vehicle Surcharges Rev. Ref. Bonds, Series 2017-A, BAM, 5.00% 7/1/2027  | 85 | 87 |
| Econ. Dev. Auth., Private Activity Bonds (Goethals Bridge Replacement Project), Series 2013, AMT, 5.375% 1/1/2043  | 2625 | 2628 |
| Econ. Dev. Auth., Private Activity Bonds (Goethals Bridge Replacement Project), Series 2013, AMT, 5.625% 1/1/2052  | 435 | 435 |
| Econ. Dev. Auth., Rev. Bonds (Provident Group - Kean Properties, LLC - Kean University Student Housing Project), <br> Series 2017-A, 5.00% 7/1/2047  | 495 | 466 |
| Econ. Dev. Auth., Rev. Ref. Bonds (Cranes Mill Project), Series 2018, 5.00% 1/1/2049  | 225 | 207 |
| Econ. Dev. Auth., Rev. Ref. Bonds (Provident Group - Montclair Properties, LLC - Montclair State University Student <br> Housing Project), Series 2017, AGI, 5.00% 6/1/2037  | 305 | 312 |
| Econ. Dev. Auth., Rev. Ref. Bonds (Provident Group - Rowan Properties, LLC - Rowan University Student Housing <br> Project), Series 2015-A, 5.00% 1/1/2035  | 815 | 815 |
| Econ. Dev. Auth., Rev. Ref. Bonds (Provident Group - Rowan Properties, LLC - Rowan University Student Housing <br> Project), Series 2015-A, 5.00% 1/1/2048  | 375 | 359 |
| Econ. Dev. Auth., School Facs. Construction Bonds, Series 2017-DDD, 5.00% 6/15/2034 (preref. 6/15/2027)  | 165 | 171 |
| Econ. Dev. Auth., School Facs. Construction Bonds, Series 2017-DDD, 5.00% 6/15/2035 (preref. 6/15/2027)  | 140 | 145 |
| Econ. Dev. Auth., School Facs. Construction Rev. Bonds, Series 2018-EEE, 5.00% 6/15/2043  | 205 | 210 |
| Econ. Dev. Auth., School Facs. Construction Rev. Bonds, Series 2018-EEE, 5.00% 6/15/2043 (preref. 12/1/2028)  | 120 | 129 |
| Econ. Dev. Auth., School Facs. Construction Rev. Ref. Bonds, Series 2023-RRR, 5.00% 3/1/2026  | 595 | 597 |
| Econ. Dev. Auth., Special Fac. Rev. Bonds (Continental Airlines, Inc. Project), Series 1999, AMT, 5.25% 9/15/2029  | 2630 | 2633 |
| Econ. Dev. Auth., Special Fac. Rev. Bonds (Continental Airlines, Inc. Project), Series 2000-B, AMT, 5.625% 11/15/2030  | 880 | 882 |
| Econ. Dev. Auth., Special Fac. Rev. Bonds (Continental Airlines, Inc. Project), Series 2003, AMT, 5.50% 6/1/2033  | 380 | 381 |
| Econ. Dev. Auth., Special Fac. Rev. Ref. Bonds (Continental Airlines, Inc. Project), Series 2012, AMT, 5.75% 9/15/2027  | 305 | 305 |
| Econ. Dev. Auth., Transit Transportation Project Bonds, Series 2020-A, 4.00% 11/1/2038  | 275 | 277 |
| Econ. Dev. Auth., Water Facs. Rev. Ref. Bonds (American Water Co., Inc. Project), Series 2019-A, AMT, 2.20% 10/1/2039 <br> (put 12/3/2029)  | 275 | 260 |
| Higher Education Student Assistance Auth., Student Loan Rev. and Rev. Ref. Bonds, Series 2022, AMT, 4.00% <br> 12/1/2041  | 905 | 901 |
| Higher Education Student Assistance Auth., Student Loan Rev. and Rev. Ref. Bonds, Series 2025, AMT, 4.50% <br> 12/1/2045  | 920 | 945 |
| Higher Education Student Assistance Auth., Student Loan Rev. and Rev. Ref. Bonds, Series 2025, AMT, 5.50% <br> 12/1/2055  | 615 | 629 |
| Higher Education Student Assistance Auth., Student Loan Rev. Bonds, Series 2018-A, AMT, 3.75% 12/1/2031  | 20 | 20 |
| Higher Education Student Assistance Auth., Student Loan Rev. Bonds, Series 2019-B, AMT, 3.25% 12/1/2039  | 440 | 428 |
| Higher Education Student Assistance Auth., Student Loan Rev. Bonds, Series 2020-B, AMT, 3.50% 12/1/2039  | 245 | 238 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2019-B, AMT, 3.00% 12/1/2034  | 105 | 100 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2020-A, AMT, 3.50% 12/1/2039  | 1305 | 1282 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2021-B, AMT, 2.50% 12/1/2040  | 1010 | 953 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2023-B, AMT, 4.00% 12/1/2044  | 3365 | 3244 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2024-B, AMT, 4.25% 12/1/2045  | 615 | 615 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2021-C, AMT, 3.25% 12/1/2051  | 325 | 233 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2024-C, AMT, 5.25% 12/1/2054  | 410 | 413 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2019-C, 4.75% 10/1/2050  | 45 | 46 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2024-K, 6.00% 10/1/2055  | 120 | 130 |
| South Jersey Port Corp., Marine Terminal Rev. Bonds, Series 2017-B, AMT, 5.00% 1/1/2036  | 110 | 113 |
| South Jersey Port Corp., Marine Terminal Rev. Bonds, Series 2017-B, AMT, 5.00% 1/1/2042  | 140 | 142 |
| South Jersey Transportation Auth., Transportation System Rev. Bonds, Series 2022-A, 4.625% 11/1/2047  | 95 | 95 |
| South Jersey Transportation Auth., Transportation System Rev. Ref. Bonds, Series 2020-A, 5.00% 11/1/2045  | 1970 | 2016 |
| South Jersey Transportation Auth., Transportation System Rev. Ref. Bonds, Series 2020-A, 4.00% 11/1/2050  | 1330 | 1174 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **155** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **New Jersey (continued)** | **New Jersey (continued)** | **New Jersey (continued)** |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2020-AA, 4.00% 6/15/2038  | USD<br> 330<br>| $334 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2024-AA, 5.00% 6/15/2042  | 110 | 119 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2020-AA, 4.00% 6/15/2045  | 185 | 175 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2023-BB, 5.00% 6/15/2046  | 500 | 521 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2020-AA, 3.00% 6/15/2050  | 660 | 486 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2022-BB, 3.00% 6/15/2050  | 1105 | 814 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2019-BB, 5.00% 6/15/2050 (preref. <br> 12/15/2028)  | 275 | 296 |
| Transportation Trust Fund Auth., Transportation System Bonds, Series 2022-A, 4.00% 6/15/2041  | 220 | 217 |
| Transportation Trust Fund Auth., Transportation System Bonds, Series 2024-AA, 5.25% 6/15/2041  | 310 | 345 |
| Transportation Trust Fund Auth., Transportation System Bonds, CAB, Series 2006-C, AMBAC, 0% 12/15/2036  | 640 | 433 |
| Turnpike Auth., Turnpike Rev. Bonds, Series 2025-A, 5.25% 1/1/2055  | 100 | 107 |
| County of Union, Improvement Auth., Solid Waste Disposal Rev. Green Bonds (Aries Linden, LLC Project), Series 2019, <br> AMT, 6.75% 12/1/2041 <sup>(a)(f)</sup>  | 1615 | 646 |
|  |  | 31097 |
| **New Mexico 0.14%** | **New Mexico 0.14%** | **New Mexico 0.14%** |
| Educational Assistance Foundation, Education Loan Bonds, Series 2021-1-A, AMT, 2.05% 9/1/2051  | 1060 | 968 |
| City of Farmington, Pollution Control Rev. Ref. Bonds (Public Service Co. of San Juan and Four Corners Projects), Series <br> 2016-B, 2.15% 4/1/2033  | 785 | 686 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2016-A-2, Class I, AMT, 3.50% 3/1/2046  | 20 | 20 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2024-C, Class I, 6.00% 3/1/2055  | 1100 | 1212 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2025-A, Class I, 5.75% 3/1/2056  | 140 | 154 |
| City of Santa Fe, Retirement Fac. Rev. Bonds (El Castillo Retirement Residences), Series 2019-A, 5.00% 5/15/2034  | 130 | 133 |
| City of Santa Fe, Retirement Fac. Rev. Bonds (El Castillo Retirement Residences), Series 2012, 5.00% 5/15/2042  | 135 | 135 |
| City of Santa Fe, Retirement Fac. Rev. Bonds (El Castillo Retirement Residences), Series 2019-A, 5.00% 5/15/2044  | 145 | 142 |
|  |  | 3450 |
| **New York 6.95%** | **New York 6.95%** | **New York 6.95%** |
| City of Albany Capital Resource Corp., Rev. Bonds (Kipp Capital Region Public Charter Schools Project), Series 2024, <br> 4.75% 6/1/2054  | 630 | 590 |
| City of Albany Capital Resource Corp., Rev. Bonds (Kipp Capital Region Public Charter Schools Project), Series 2024, <br> 5.00% 6/1/2064  | 60 | 57 |
| Town of Brookhaven Local Dev. Corp., Rev. Bonds (Active Retirement Community, Inc.), Series 2020-A, 4.00% <br> 11/1/2055  | 750 | 624 |
| Town of Brookhaven Local Dev. Corp., Rev. Bonds (Long Island Community Hospital Project), Series 2020-A, 5.00% <br> 10/1/2050  | 250 | 254 |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Series 2016-A, 5.00% 7/15/2026  | 2115 | 2129 |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Series 2016-A, 5.00% 7/15/2042  | 8360 | 8373 |
| Buffalo and Erie County Industrial Land Dev. Corp., Rev. Bonds (Catholic Health System Obligated Group Project), <br> Series 2015, 5.00% 7/1/2040  | 105 | 100 |
| Buffalo and Erie County, Industrial Land Dev. Corp., Obligated Group Rev. Bonds (Catholic Health System, Inc. Project), <br> Series 2015, 4.00% 7/1/2045  | 60 | 48 |
| Build NYC Resource Corp., Rev. Bonds (Friends of Hellenic Classical Charter Schools, Inc. Project), Series 2021-A, <br> 5.00% 12/1/2041 <sup>(a)</sup>  | 120 | 116 |
| Build NYC Resource Corp., Rev. Bonds (Friends of Hellenic Classical Charter Schools, Inc. Project), Series 2021-A, <br> 5.00% 12/1/2051 <sup>(a)</sup>  | 195 | 174 |
| Build NYC Resource Corp., Rev. Bonds (Friends of Hellenic Classical Charter Schools, Inc. Project), Series 2021-A, <br> 5.00% 12/1/2055 <sup>(a)</sup>  | 155 | 136 |
| Build NYC Resource Corp., Rev. Bonds (Shefa School Project), Series 2021-A, 5.00% 6/15/2051 <sup>(a)</sup>  | 220 | 206 |
| Build NYC Resource Corp., Rev. Ref. Bonds (Albert Einstein School of Medicine, Inc. Project), Series 2015, 5.50% <br> 9/1/2045 <sup>(a)</sup>  | 1840 | 1822 |
| Build NYC Resource Corp., Rev. Ref. Bonds (Brooklyn Navy Yard Cogeneration Partners, LP Project), Series 2019, AMT, <br> 5.00% 12/31/2028 <sup>(a)</sup>  | 1825 | 1840 |
| Build NYC Resource Corp., Solid Waste Disposal Rev. Bonds (Pratt Paper (NY), Inc. Project), Series 2014, AMT, 5.00% <br> 1/1/2035 <sup>(a)</sup>  | 2250 | 2253 |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), CAB, Series 2016-B, BAM, 0% 11/15/2039  | 440 | 248 |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), CAB, Series 2016-B, BAM, 0% 11/15/2045  | 895 | 351 |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), CAB, Series 2016-B, BAM, 0% 11/15/2046  | 380 | 141 |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), CAB, Series 2016-B, AGI, 0% 11/15/2048  | 555 | 184 |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), CAB, Series 2016-A, 0% 11/15/2049  | 4020 | 1295 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **156** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **New York (continued)** | **New York (continued)** | **New York (continued)** |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), CAB, Series 2016-B, BAM, 0% 11/15/2055  | USD<br> 470<br>| $108 |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), CAB, Series 2016-B, BAM, 0% 11/15/2056  | 435 | 95 |
| Dormitory Auth., Mortgage Hospital Rev. Bonds (Maimonides Medical Center), Series 2020, FHA, 3.00% 2/1/2050  | 1150 | 837 |
| Dormitory Auth., Rev. Bonds (Catholic Health System Obligated Group), Series 2019-A, 4.00% 7/1/2037  | 195 | 170 |
| Dormitory Auth., Rev. Bonds (Catholic Health System Obligated Group), Series 2019-A, 4.00% 7/1/2038  | 185 | 159 |
| Dormitory Auth., Rev. Bonds (Catholic Health System Obligated Group), Series 2019-A, 4.00% 7/1/2045  | 485 | 391 |
| Dormitory Auth., Rev. Bonds (Langone Hospitals Obligated Group), Series 2020-A, 4.00% 7/1/2050  | 1540 | 1382 |
| Dormitory Auth., Rev. Bonds (Montefiore Obligated Group), Series 2020-A, 4.00% 9/1/2045  | 100 | 87 |
| Dormitory Auth., Rev. Bonds (Montefiore Obligated Group), Series 2024, 5.50% 11/1/2047  | 70 | 73 |
| Dormitory Auth., Rev. Bonds (Northwell Health Obligated Group), Series 2024-A, 4.00% 5/1/2054  | 110 | 98 |
| Dormitory Auth., Rev. Bonds (Orange Regional Medical Center Obligated Group), Series 2015, 5.00% 12/1/2033 <sup>(a)</sup>  | 100 | 100 |
| Dormitory Auth., Rev. Bonds (Orange Regional Medical Center Obligated Group), Series 2015, 5.00% 12/1/2034 <sup>(a)</sup>  | 100 | 100 |
| Dormitory Auth., Rev. Bonds (Orange Regional Medical Center Obligated Group), Series 2017, 5.00% 12/1/2034 <sup>(a)</sup>  | 110 | 110 |
| Dormitory Auth., Rev. Bonds (Orchard Park CCRC, Inc. Obligated Group), Series 2025-A, 5.125% 11/15/2050  | 925 | 930 |
| Dormitory Auth., Rev. Bonds (White Plains Hospital Obligated Group), Series 2024, 5.25% 10/1/2049  | 2095 | 2124 |
| Dormitory Auth., Rev. Bonds (White Plains Hospital Obligated Group), Series 2024, AGI, 5.50% 10/1/2054  | 95 | 102 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 3.00% 3/15/2041  | 1000 | 871 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2024-A, 5.25% 3/15/2049  | 775 | 818 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2025-C, 5.25% 3/15/2050  | 770 | 820 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2021-E, 3.00% 3/15/2051  | 305 | 223 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2025-A, 5.00% 3/15/2051  | 2750 | 2843 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2024-A, 5.00% 3/15/2055  | 330 | 342 |
| Dormitory Auth., Taxable State Personal Income Tax Rev. Bonds (General Purpose), Series 2024-A, 5.25% 3/15/2052  | 330 | 347 |
| Environmental Facs. Corp., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2017, AMT, <br> 2.875% 12/1/2044 (put 12/3/2029) <sup>(a)</sup>  | 520 | 497 |
| Environmental Facs. Corp., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2020-R-1, <br> 4.25% 9/1/2050 (put 9/3/2030) <sup>(a)</sup>  | 830 | 834 |
| Environmental Facs. Corp., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2022-R-2, <br> AMT, 5.125% 9/1/2050 (put 9/3/2030) <sup>(a)</sup>  | 715 | 744 |
| Genesee County Funding Corp., Rev. Bonds (Rochester Regional Health Project), Series 2022-A, 5.25% 12/1/2052  | 65 | 66 |
| Town of Huntington Local Dev. Corp., Rev. Bonds (Gurwin Independent Housing, Inc. / Fountaingate Gardens Project), <br> Series 2021-A, 5.25% 7/1/2056  | 410 | 331 |
| Jefferson County Civic Fac. Dev. Corp., Rev. Bonds (Samaritan Medical Center Project), Series 2017-A, 4.00% <br> 11/1/2042  | 220 | 181 |
| Jefferson County Civic Fac. Dev. Corp., Rev. Bonds (Samaritan Medical Center Project), Series 2017-A, 4.00% <br> 11/1/2047  | 275 | 207 |
| Liberty Dev. Corp., Liberty Rev. Ref. Green Bonds (4 World Trade Center Project), Series 2021-A, 2.875% 11/15/2046  | 1085 | 790 |
| Liberty Dev. Corp., Liberty Rev. Ref. Green Bonds (4 World Trade Center Project), Series 2021-A, 3.00% 11/15/2051  | 3265 | 2365 |
| Liberty Dev. Corp., Liberty Rev. Ref. Green Bonds (4 World Trade Center Project), Series 2021-A, BAM, 3.00% <br> 11/15/2051  | 220 | 161 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2021-A-2, 4.00% 11/15/2043  | 175 | 163 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2015-A-2, 5.00% 11/15/2045 (put 5/15/2030)  | 765 | 825 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-D-1, 5.00% 11/15/2043  | 110 | 114 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-D, 5.00% 11/15/2045  | 495 | 506 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2021-A-1, 4.00% 11/15/2046  | 355 | 320 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-D-3, 4.00% 11/15/2049  | 1000 | 898 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2019-B, 4.00% 11/15/2050  | 1000 | 879 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-C-1, 5.00% 11/15/2050  | 445 | 450 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-A-2, 5.00% 11/15/2026  | 260 | 265 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-B, 5.00% 11/15/2026  | 145 | 148 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 5.00% 11/15/2028  | 210 | 221 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2020-E, 5.00% 11/15/2032  | 80 | 88 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2024-A, 5.00% 11/15/2044  | 510 | 536 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2020-E, 4.00% 11/15/2045  | 65 | 59 |
| Monroe County Industrial Dev. Corp., Rev. Bonds (Rochester Regional Health Project), Series 2020-A, 3.00% 12/1/2040  | 245 | 202 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 239, 3.25% 10/1/2051  | 85 | 84 |
| New York City GO Bonds, Series 2021-F-1, 4.00% 3/1/2047  | 350 | 321 |
| New York City GO Bonds, Fiscal 2020, Series 2020-D-1, 4.00% 3/1/2050  | 275 | 249 |
| New York City GO Bonds, Fiscal 2022, Series 2022-A-1, 3.00% 8/1/2050  | 335 | 249 |
| New York City GO Bonds, Fiscal 2024, Series 2024-C, 5.00% 3/1/2042  | 155 | 166 |
| New York City GO Bonds, Fiscal 2024, Series 2024-D, 5.25% 4/1/2054  | 1500 | 1567 |
| New York City GO Bonds, Fiscal 2025, Series 2025-C-1, 5.25% 9/1/2046  | 1050 | 1113 |
| New York City GO Bonds, Fiscal 2025, Series 2025-G-1, 5.25% 2/1/2053  | 380 | 399 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **157** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **New York (continued)** | **New York (continued)** | **New York (continued)** |
| New York City GO Bonds, Fiscal 2025, Series 2025-E, 5.00% 8/1/2054  | USD<br> 1,000<br>| $1027 |
| New York City GO Bonds, Fiscal 2026, Series 2026-D, 5.25% 10/1/2051  | 1000 | 1053 |
| New York City GO Bonds, Fiscal 2026, Series 2026-C-1, 5.00% 8/1/2053  | 1130 | 1164 |
| New York City Housing Dev. Corp., Housing Impact Green Bonds, Series 2020-A, 2.80% 2/1/2050  | 275 | 195 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds), Series 2021-F-1, <br> 2.25% 11/1/2041  | 230 | 176 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Queens Baseball Stadium Project), Series 2021-A, AG, <br> 5.00% 1/1/2026  | 300 | 300 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Queens Baseball Stadium Project), Series 2021-A, AGI, <br> 3.00% 1/1/2046  | 640 | 489 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Yankee Stadium Project), Series 2020-A, AGI, 3.00% <br> 3/1/2039  | 210 | 192 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Yankee Stadium Project), Series 2020-A, AGI, 3.00% <br> 3/1/2040  | 440 | 390 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Yankee Stadium Project), Series 2020-A, AGI, 4.00% <br> 3/1/2045  | 485 | 455 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Yankee Stadium Project), Series 2020-A, AGI, 3.00% <br> 3/1/2049  | 285 | 212 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series <br> 2023-DD, 5.25% 6/15/2046  | 130 | 138 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series <br> 2024-AA-1, 5.25% 6/15/2053  | 300 | 315 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series <br> 2024-BB-1, 5.25% 6/15/2054  | 685 | 720 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series <br> 2024-CC, 5.25% 6/15/2054  | 1635 | 1721 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Fiscal <br> 2025, Series 2025-BB, 5.00% 6/15/2043  | 600 | 653 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Fiscal <br> 2025, Series 2025-BB, 5.00% 6/15/2052  | 515 | 536 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Fiscal <br> 2025, Series 2025-BB, 5.00% 6/15/2055  | 515 | 545 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2020, Series 2020-B-1, 4.00% 11/1/2042  | 110 | 108 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2024, Series 2024-G, 5.00% 5/1/2044  | 145 | 153 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2024, Series 2024-G, 5.00% 5/1/2046  | 245 | 256 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2024, Series 2024-C, 5.25% 5/1/2048  | 245 | 257 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2024, Series 2024-G, 5.25% 5/1/2048  | 2080 | 2192 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2024, Series 2024-G, 5.25% 5/1/2049  | 2195 | 2307 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2024, Series 2024-G, 5.25% 5/1/2051  | 5275 | 5527 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2024, Series 2024-F-1, 5.25% 2/1/2053  | 1815 | 1897 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-F, 5.00% 11/1/2040  | 275 | 305 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-H-1, 5.00% 11/1/2044  | 165 | 175 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-E, 5.00% 11/1/2045  | 380 | 401 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-C-C1, 5.00% 5/1/2046  | 160 | 168 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-H-1, 5.00% 11/1/2046  | 80 | 84 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-C-C1, 5.00% 5/1/2048  | 940 | 975 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-E, 5.50% 11/1/2049  | 395 | 426 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-D, 5.00% 5/1/2050  | 500 | 516 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-H-1, 5.50% 11/1/2051  | 55 | 59 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-D, 5.50% 5/1/2052  | 220 | 236 |
| Niagara Area Dev. Corp., Rev. Bonds (Catholic Health System, Inc. Project), Series 2022, 5.00% 7/1/2052  | 345 | 311 |
| Niagara Area Dev. Corp., Solid Waste Disposal Fac. Rev. Ref. Bonds (Covanta Project), Series 2018-A, AMT, 4.75% <br> 11/1/2042 <sup>(a)</sup>  | 3320 | 2924 |
| Niagara Frontier Transportation Auth., Airport Rev. Bonds (Buffalo Niagara International Airport), Series 2019-A, AMT, <br> 5.00% 4/1/2039  | 50 | 51 |
| Niagara Frontier Transportation Auth., Airport Rev. Ref. Bonds (Buffalo Niagara International Airport), Series 2014-A, <br> AMT, 5.00% 4/1/2029  | 130 | 130 |
| Oneida Indian Nation, Tax Rev. Bonds, Series 2024-A, 7.25% 9/1/2034 <sup>(a)</sup>  | 1465 | 1486 |
| Oneida Indian Nation, Tax Rev. Bonds, Series 2024-B, 6.00% 9/1/2043 <sup>(a)</sup>  | 540 | 583 |
| County of Onondaga, Resource Recovery Agcy., Rev. Ref. Bonds, Series 2015-A, AMT, AGI, 5.00% 5/1/2030  | 165 | 165 |
| Onongada Civic Dev. Corp., Rev. Bonds (Syracuse University Project), Series 2025, 5.50% 12/1/2056  | 85 | 93 |
| Onongada Civic Dev. Corp., Rev. Ref. Bonds (Crouse Health Hospital, Inc. Project), Series 2024-A, 5.125% 8/1/2044  | 245 | 218 |
| Onongada Civic Dev. Corp., Rev. Ref. Bonds (Crouse Health Hospital, Inc. Project), Series 2024-A, 5.375% 8/1/2054  | 750 | 653 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **158** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **New York (continued)** | **New York (continued)** | **New York (continued)** |
| Rockland County Econ. Assistance Corp., Rev. Bonds (Bon Secours Charity Health System Project), Series 2025, 7.50% <br> 11/1/2055  | USD<br> 3,255<br>| $3496 |
| Suffolk County Econ. Dev. Corp., Rev. Bonds (Peconic Landing at Southold, Inc. Project), Series 2019-B, 5.00% <br> 12/1/2040  | 110 | 112 |
| Suffolk Regional Off-Track Betting Corp., Rev. Bonds, Series 2024, 5.75% 12/1/2044  | 415 | 423 |
| Suffolk Regional Off-Track Betting Corp., Rev. Bonds, Series 2024, 6.00% 12/1/2053  | 275 | 279 |
| Sullivan County Infrastructure Local Dev. Corp., Rev. Bonds (Adelaar Infrastructure Project), Series 2016-A-1, 4.85% <br> 11/1/2031 <sup>(a)</sup>  | 250 | 252 |
| Sullivan County Infrastructure Local Dev. Corp., Rev. Bonds (Adelaar Infrastructure Project), Series 2016-E-1, 4.85% <br> 11/1/2031 <sup>(a)</sup>  | 370 | 374 |
| Sullivan County Infrastructure Local Dev. Corp., Rev. Bonds (Adelaar Infrastructure Project), Series 2016-A-2, 5.35% <br> 11/1/2049 <sup>(a)</sup>  | 355 | 355 |
| Sullivan County Infrastructure Local Dev. Corp., Rev. Bonds (Adelaar Infrastructure Project), Series 2016-C-2, 5.35% <br> 11/1/2049 <sup>(a)</sup>  | 350 | 350 |
| Sullivan County Infrastructure Local Dev. Corp., Rev. Bonds (Adelaar Infrastructure Project), Series 2016-D-2, 5.35% <br> 11/1/2049 <sup>(a)</sup>  | 375 | 375 |
| Sullivan County Infrastructure Local Dev. Corp., Rev. Bonds (Adelaar Infrastructure Project), Series 2016-E-2, 5.35% <br> 11/1/2049 <sup>(a)</sup>  | 2370 | 2372 |
| Thruway Auth., Personal Income Tax Rev. Bonds, Series 2022-A-1, 4.00% 3/15/2050  | 275 | 257 |
| Thruway Auth., Personal Income Tax Rev. Bonds, Series 2022-A-1, 4.00% 3/15/2051  | 275 | 256 |
| Thruway Auth., Personal Income Tax Rev. Bonds, Series 2021-A-1, 4.00% 3/15/2052  | 525 | 482 |
| Thruway Auth., Personal Income Tax Rev. Green Bonds, Series 2025-B, 5.00% 3/15/2055  | 500 | 517 |
| Tompkins County Dev. Corp., Continuing Care Retirement Community Rev. Bonds (Kendal at Ithaca, Inc. Project), <br> Series 2014-A, 5.00% 7/1/2034  | 75 | 75 |
| Transportation Dev. Corp., Fac. Rev. Bonds (New York State Thruway Service Areas Project), Series 2021, AMT, 4.00% <br> 10/31/2046  | 310 | 276 |
| Transportation Dev. Corp., Fac. Rev. Bonds (New York State Thruway Service Areas Project), Series 2021, AMT, 4.00% <br> 4/30/2053  | 535 | 455 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (American Airlines, Inc. John F. Kennedy International Airport <br> Project), Series 2021, AMT, 2.25% 8/1/2026  | 855 | 850 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (American Airlines, Inc. John F. Kennedy International Airport <br> Project), Series 2021, AMT, 3.00% 8/1/2031  | 1435 | 1362 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (American Airlines, Inc. John F. Kennedy International Airport <br> Project), Series 2020, AMT, 5.25% 8/1/2031  | 535 | 554 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (American Airlines, Inc. John F. Kennedy International Airport <br> Project), Series 2020, AMT, 5.375% 8/1/2036  | 2480 | 2589 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2022, AMT, 5.00% 12/1/2026  | 100 | 102 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2020-A, AMT, 5.00% 12/1/2028  | 250 | 262 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2022, AMT, 5.00% 12/1/2035  | 350 | 376 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2022, AMT, 5.00% 12/1/2036  | 100 | 107 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2020-A, AMT, 5.00% 12/1/2037  | 75 | 78 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2020-C, 5.00% 12/1/2038  | 100 | 107 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2022, AMT, 5.00% 12/1/2038  | 185 | 195 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2020-A, AMT, 4.00% 12/1/2039  | 120 | 118 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2022, AMT, 5.00% 12/1/2040  | 140 | 146 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2022, AMT, 5.00% 12/1/2041  | 170 | 176 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2020-A, AMT, 4.00% 12/1/2042  | 475 | 442 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2020-C, 4.00% 12/1/2042  | 275 | 264 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2022, AMT, 4.00% 12/1/2042  | 260 | 242 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **159** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **New York (continued)** | **New York (continued)** | **New York (continued)** |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2022, AMT, 5.00% 12/1/2042  | USD<br> 335<br>| $343 |
| Transportation Dev. Corp., Special Fac. Rev. Ref. Bonds (American Airlines, Inc. John F. Kennedy International Airport <br> Project), Series 2016, AMT, 5.00% 8/1/2026  | 460 | 460 |
| Transportation Dev. Corp., Special Fac. Rev. Ref. Bonds (American Airlines, Inc. John F. Kennedy International Airport <br> Project), Series 2016, AMT, 5.00% 8/1/2031  | 5775 | 5781 |
| Transportation Dev. Corp., Special Facs. Bonds (LaGuardia Airport Terminal B Redev. Project), Series 2016-A, AMT, <br> 4.00% 7/1/2032  | 2000 | 1992 |
| Transportation Dev. Corp., Special Facs. Bonds (LaGuardia Airport Terminal B Redev. Project), Series 2016-A, AMT, <br> 4.00% 7/1/2033  | 495 | 494 |
| Transportation Dev. Corp., Special Facs. Bonds (LaGuardia Airport Terminal B Redev. Project), Series 2016-A, AMT, <br> 4.00% 7/1/2046  | 535 | 464 |
| Transportation Dev. Corp., Special Facs. Bonds (LaGuardia Airport Terminal B Redev. Project), Series 2016-A, AMT, <br> 5.00% 7/1/2046  | 385 | 385 |
| Transportation Dev. Corp., Special Facs. Bonds (LaGuardia Airport Terminal B Redev. Project), Series 2016-A, AMT, <br> 5.25% 1/1/2050  | 3840 | 3840 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2018, AMT, 5.00% 1/1/2027  | 220 | 224 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2018, AMT, 5.00% 1/1/2028  | 250 | 258 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2018, AMT, 5.00% 1/1/2029  | 750 | 773 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2018, AMT, 5.00% 1/1/2030  | 520 | 536 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2020, AMT, 4.00% 10/1/2030  | 575 | 586 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2018, AMT, 5.00% 1/1/2031  | 6800 | 7007 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2018, AMT, 5.00% 1/1/2032  | 1105 | 1136 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2018, AMT, 5.00% 1/1/2033  | 3360 | 3447 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2018, AMT, 5.00% 1/1/2034  | 1000 | 1023 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2023, AMT, 6.00% 4/1/2035  | 3410 | 3760 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2020, AMT, 5.00% 10/1/2035  | 700 | 730 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2018, AMT, 4.00% 1/1/2036  | 700 | 682 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2018, AMT, 5.00% 1/1/2036  | 325 | 331 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2023, AMT, 5.625% 4/1/2040  | 1450 | 1522 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2020, AMT, 5.00% 10/1/2040  | 5485 | 5563 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2020, AMT, 4.375% 10/1/2045  | 6320 | 5893 |
| Transportation Dev. Corp., Special Facs. Rev. Green Bonds (John. F. Kennedy International Airport New Terminal One <br> Project), Series 2023, AMT, AGI, 5.00% 6/30/2049  | 275 | 276 |
| Transportation Dev. Corp., Special Facs. Rev. Green Bonds (John. F. Kennedy International Airport New Terminal One <br> Project), Series 2024, AGI, AMT, 5.00% 6/30/2054  | 2985 | 2982 |
| Transportation Dev. Corp., Special Facs. Rev. Green Bonds (John. F. Kennedy International Airport New Terminal One <br> Project), Series 2024, AMT, 5.50% 6/30/2054  | 1050 | 1063 |
| Transportation Dev. Corp., Special Facs. Rev. Green Bonds (John. F. Kennedy International Airport New Terminal One <br> Project), Series 2023, AMT, 6.00% 6/30/2054  | 440 | 455 |
| Transportation Dev. Corp., Special Facs. Rev. Green Bonds (John. F. Kennedy International Airport New Terminal One <br> Project), Series 2025, AMT, 6.00% 6/30/2055  | 1270 | 1342 |
| Transportation Dev. Corp., Special Facs. Rev. Green Bonds (John. F. Kennedy International Airport New Terminal One <br> Project), Series 2025, AGI, AMT, 5.50% 6/30/2059  | 220 | 230 |
| Transportation Dev. Corp., Special Facs. Rev. Green Bonds (John. F. Kennedy International Airport New Terminal One <br> Project), Series 2025, AMT, 6.00% 6/30/2059  | 2730 | 2873 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **160** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **New York (continued)** | **New York (continued)** | **New York (continued)** |
| Transportation Dev. Corp., Special Facs. Rev. Green Bonds (John. F. Kennedy International Airport New Terminal One <br> Project), Series 2023, AMT, AGI, 5.125% 6/30/2060  | USD<br> 2,000<br>| $2009 |
| Transportation Dev. Corp., Special Facs. Rev. Green Bonds (John. F. Kennedy International Airport New Terminal One <br> Project), Series 2024, AMT, 5.50% 6/30/2060  | 1750 | 1765 |
| Transportation Dev. Corp., Special Facs. Rev. Green Bonds (John. F. Kennedy International Airport New Terminal Six <br> Redev. Project), Series 2024-A, AGI, AMT, 5.25% 12/31/2054  | 675 | 685 |
| Transportation Dev. Corp., Special Facs. Rev. Green Bonds (John. F. Kennedy International Airport New Terminal Six <br> Redev. Project), Series 2024-A, AMT, 5.50% 12/31/2054  | 760 | 776 |
| Transportation Dev. Corp., Special Facs. Rev. Green Bonds (John. F. Kennedy International Airport New Terminal Six <br> Redev. Project), Series 2024-A, AMT, 5.50% 12/31/2060  | 1405 | 1421 |
| Transportation Dev. Corp., Special Facs. Rev. Green Bonds (John. F. Kennedy International Airport New Terminal Six <br> Redev. Project), CAB, Series 2024-B, AGI, AMT, 0% 12/31/2054 (5.00% on 12/31/2034) <sup>(d)</sup>  | 525 | 340 |
| Triborough Bridge and Tunnel Auth., General Rev. Bonds (MTA Bridges and Tunnels), Series 2020-A, 4.00% <br> 11/15/2054  | 220 | 199 |
| Triborough Bridge and Tunnel Auth., Payroll Mobility Tax Green Bonds (MTA Bridges and Tunnels), Series 2024-B, <br> 5.25% 5/15/2054  | 405 | 426 |
| Triborough Bridge and Tunnel Auth., Real Estate Transfer Tax Rev. Bonds (MTA Bridges and Tunnels), Series 2025-A, <br> 5.25% 12/1/2054  | 240 | 253 |
| Triborough Bridge and Tunnel Auth., Real Estate Transfer Tax Rev. Bonds (MTA Bridges and Tunnels), Series 2025-A, <br> 5.50% 12/1/2059  | 2470 | 2641 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-A, 5.00% 3/15/2039  | 165 | 172 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 3.00% 3/15/2040  | 220 | 196 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-E, 3.00% 3/15/2047  | 655 | 503 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 4.00% 3/15/2049  | 40 | 36 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 4.00% 3/15/2049  | 25 | 23 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 3.00% 3/15/2050  | 220 | 164 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-E, 3.00% 3/15/2050  | 275 | 205 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2023-A, 4.00% 3/15/2052  | 250 | 225 |
| Urban Dev. Corp., State Sales Tax Rev. Bonds, Series 2021-A, 3.00% 3/15/2040  | 280 | 250 |
| Urban Dev. Corp., State Sales Tax Rev. Bonds, Series 2019-A, 4.00% 3/15/2043  | 500 | 485 |
| Urban Dev. Corp., State Sales Tax Rev. Bonds, Series 2023-A, 5.00% 3/15/2048  | 260 | 269 |
| Westchester County Local Dev. Corp., Rev. Bonds (Purchase Housing Corp. II Project), Series 2017, 5.00% 6/1/2047  | 110 | 107 |
| Westchester County Local Dev. Corp., Rev. Bonds (Senior Learning Community, Inc.), Series 2021-A, 5.00% 7/1/2056 <sup>(a)</sup>  | 405 | 357 |
| Westchester County Local Dev. Corp., Rev. Bonds (Westchester Medical Center Obligated Group Project), Series 2016, <br> 5.00% 11/1/2046  | 590 | 547 |
| County of Westchester Industrial Dev. Agcy., Special Fac. Rev. Bonds (Million Air Two, LLC. General Aviation Facs. <br> Project), Series 2017-A, AMT, 7.00% 6/1/2046 <sup>(a)</sup>  | 100 | 104 |
| Yonkers Econ. Dev. Corp., Educational Rev. Bonds (Lamartine/Warburton, LLC - Charter School of Educational <br> Excellence Project), Series 2019-A, 4.00% 10/15/2029  | 55 | 55 |
| Yonkers Econ. Dev. Corp., Educational Rev. Bonds (Lamartine/Warburton, LLC - Charter School of Educational <br> Excellence Project), Series 2019-A, 5.00% 10/15/2039  | 50 | 50 |
| Yonkers Econ. Dev. Corp., Educational Rev. Bonds (Lamartine/Warburton, LLC - Charter School of Educational <br> Excellence Project), Series 2019-A, 5.00% 10/15/2054  | 100 | 91 |
|  |  | 172487 |
| **North Carolina 0.99%** | **North Carolina 0.99%** | **North Carolina 0.99%** |
| City of Charlotte, Charlotte Douglas International Airport, Airport Rev. Bonds, Series 2022-A, AMT, 3.00% 7/1/2046  | 295 | 220 |
| City of Charlotte, Water and Sewer System Rev. Bonds, Series 2024, 5.00% 7/1/2054  | 2650 | 2799 |
| Columbus County Industrial Facs. and Pollution Control Fin. Auth. Recovery Zone Fac. Rev. Ref. Bonds (International <br> Paper Co. Project), Series 2020-A, 4.20% 5/1/2034  | 220 | 229 |
| County of Cumberland, Industrial Facs. and Pollution Control Fncg. Auth., Solid Waste Disposal Rev. Bonds (Project <br> Aero), Series 2024, AMT, 3.125% 12/1/2027 (put 12/1/2026)  | 7000 | 6996 |
| Educational Assistance Auth., Student Loan Rev. and Rev. Ref. Bonds, Series 2025-A, AMT, 5.00% 6/1/2035  | 245 | 260 |
| Educational Assistance Auth., Student Loan Rev. Bonds, Series 2023-A, AMT, 5.00% 6/1/2043  | 495 | 516 |
| Educational Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2025-A, AMT, 5.00% 6/1/2045  | 1195 | 1252 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds, Series 58-A, 6.50% 1/1/2056  | 100 | 114 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 53-A, 6.25% 1/1/2055  | 300 | 325 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 54-A, 6.25% 1/1/2055  | 195 | 217 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 55-A, 6.25% 7/1/2055  | 210 | 231 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 57-A, 6.25% 1/1/2056  | 155 | 174 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 55-C, 3.20% 7/1/2056 (put <br> 1/15/2026)  | 900 | 900 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **161** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **North Carolina (continued)** | **North Carolina (continued)** | **North Carolina (continued)** |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 59-A, 6.25% 1/1/2057  | USD<br> 555<br>| $633 |
| Medical Care Commission, Health Care Facs. First Mortgage Rev. Bonds (Lutheran Services for the Aging), Series <br> 2021-A, 4.00% 3/1/2041  | 55 | 52 |
| Medical Care Commission, Health Care Facs. First Mortgage Rev. Bonds (Lutheran Services for the Aging), Series <br> 2021-A, 4.00% 3/1/2051  | 480 | 398 |
| Medical Care Commission, Health Care Facs. First Mortgage Rev. Bonds (The Presbyterian Homes Obligated Group), <br> Series 2020-A, 5.00% 10/1/2040  | 1190 | 1223 |
| Medical Care Commission, Health Care Facs. First Mortgage Rev. Bonds (The Presbyterian Homes Obligated Group), <br> Series 2020-A, 5.00% 10/1/2045  | 165 | 165 |
| Medical Care Commission, Health Care Facs. First Mortgage Rev. Bonds (The Presbyterian Homes Obligated Group), <br> Series 2020-A, 4.00% 10/1/2050  | 1600 | 1345 |
| Medical Care Commission, Health Care Facs. First Mortgage Rev. Ref. Bonds (The Pines at Davidson Project), Series <br> 2019-A, 5.00% 1/1/2049  | 1500 | 1478 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. and Rev. Ref. Bonds (Plantation Village, Inc.), Series <br> 2021-A, 4.00% 1/1/2041  | 150 | 141 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. and Rev. Ref. Bonds (Plantation Village, Inc.), Series <br> 2021-A, 4.00% 1/1/2052  | 595 | 486 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Carolina Meadows), Series 2024, 5.25% <br> 12/1/2049  | 100 | 102 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Carolina Meadows), Series 2024, 5.25% <br> 12/1/2054  | 250 | 253 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Carolina Village Project), Series 2017-B, 4.25% <br> 4/1/2042  | 55 | 50 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Carolina Village Project), Series 2017-B, 5.00% <br> 4/1/2047  | 610 | 562 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Lutheran Retirement Ministries Project), Series <br> 2019-A, 5.00% 1/1/2038  | 500 | 511 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Lutheran Retirement Ministries Project), Series <br> 2019-A, 5.00% 1/1/2049  | 795 | 775 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Penick Village Project), Series 2024-A, 5.50% <br> 9/1/2044  | 140 | 144 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Penick Village Project), Series 2024-A, 5.50% <br> 9/1/2054  | 205 | 203 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Sharon Towers), Series 2019-A, 5.00% <br> 7/1/2049  | 500 | 472 |
| Medical Care Commission, Retirement Facs. Rev. Bonds (Friends Homes), Series 2020-A, 5.00% 9/1/2030  | 100 | 102 |
| Medical Care Commission, Retirement Facs. Rev. Bonds (Friends Homes), Series 2020-A, 4.00% 9/1/2050  | 1425 | 1161 |
|  |  | 24489 |
| **North Dakota 0.13%** | **North Dakota 0.13%** | **North Dakota 0.13%** |
| City of Grand Forks, Health Care System Rev. Bonds, Series 2021, AGI, 3.00% 12/1/2046  | 1735 | 1322 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2021-A, 3.00% 1/1/2052  | 70 | 69 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2021-B, 3.00% 7/1/2052  | 195 | 192 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2023-D, 5.75% 1/1/2054  | 135 | 144 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2024-A, 6.00% 7/1/2054  | 90 | 97 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2024-C, 6.25% 1/1/2055  | 305 | 340 |
| County of Ward, Health Care Facs. Rev. Bonds (Trinity Obligated Group), Series 2017-C, 5.00% 6/1/2038  | 165 | 161 |
| County of Ward, Health Care Facs. Rev. Bonds (Trinity Obligated Group), Series 2017-C, 5.00% 6/1/2043  | 720 | 671 |
| County of Ward, Health Care Facs. Rev. Bonds (Trinity Obligated Group), Series 2017-C, 5.00% 6/1/2053  | 220 | 190 |
|  |  | 3186 |
| **Ohio 2.74%** | **Ohio 2.74%** | **Ohio 2.74%** |
| Air Quality Dev. Auth. Rev. Ref. Bonds, (American Electric Power Co. Project), Series 2014-D, 3.20% 5/1/2026  | 300 | 300 |
| Air Quality Dev. Auth. Rev. Ref. Bonds, (American Electric Power Co. Project), Series 2014-C, AMT, 3.65% 12/1/2027  | 3000 | 3008 |
| Air Quality Dev. Auth. Rev. Ref. Bonds, (American Electric Power Co. Project), Series 2005-C, AMT, 3.70% 4/1/2028  | 150 | 150 |
| Air Quality Dev. Auth. Rev. Ref. Bonds, (American Electric Power Co. Project), Series 2005-D, AMT, 3.70% 10/1/2028  | 4435 | 4451 |
| Air Quality Dev. Auth., Air Quality Dev. Rev. Ref. Bonds (Duke Energy Corp. Project), Series 2022-B, AMT, 4.25% <br> 11/1/2039 (put 6/1/2027)  | 1470 | 1493 |
| Air Quality Dev. Auth., Air Quality Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2009-A, 2.875% 2/1/2026  | 570 | 570 |
| Air Quality Dev. Auth., Air Quality Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2009-D, 2.875% 2/1/2026  | 755 | 755 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **162** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Ohio (continued)** | **Ohio (continued)** | **Ohio (continued)** |
| Air Quality Dev. Auth., Air Quality Rev. Ref. Bonds (American Electric Co. Project), Series 2014-B, AMT, 2.60% 6/1/2041 <br> (put 10/1/2029)  | USD<br> 110<br>| $106 |
| Air Quality Dev. Auth., Air Quality Rev. Ref. Bonds (American Electric Co. Project), Series 2007-B, AMT, 2.50% <br> 11/1/2042 (put 10/1/2029)  | 505 | 483 |
| Air Quality Dev. Auth., Air Quality Rev. Ref. Bonds (Ohio Valley Electric Corp. Project), Series 2019-A, 3.25% 9/1/2029  | 1335 | 1332 |
| Air Quality Dev. Auth., Air Quality Rev. Ref. Bonds (The Dayton Power and Light Co. Project), Series 2015-A, AMT, 4.25% <br> 11/1/2040 (put 6/1/2027)  | 250 | 254 |
| Air Quality Dev. Auth., Exempt Facs. Rev. Bonds (Pratt Paper (OH), LLC Project), Series 2017, AMT, 4.25% 1/15/2038 <sup>(a)</sup>  | 1145 | 1146 |
| Air Quality Dev. Auth., Exempt Facs. Rev. Bonds (Pratt Paper (OH), LLC Project), Series 2017, AMT, 4.50% 1/15/2048 <sup>(a)</sup>  | 2685 | 2482 |
| County of Allen, Hospital Facs. Rev. Bonds (Bon Secours Mercy Health, Inc.), Series 2020-A, 4.00% 12/1/2040  | 130 | 126 |
| Buckeye Tobacco Settlement Fncg. Auth., Tobacco Settlement Asset-Backed Rev. Ref. Bonds, Series 2020-A-2, Class 1, <br> 5.00% 6/1/2033  | 145 | 155 |
| Buckeye Tobacco Settlement Fncg. Auth., Tobacco Settlement Asset-Backed Rev. Ref. Bonds, Series 2020-A-2, 5.00% <br> 6/1/2034  | 265 | 280 |
| Buckeye Tobacco Settlement Fncg. Auth., Tobacco Settlement Asset-Backed Rev. Ref. Bonds, Series 2020-A-2, 4.00% <br> 6/1/2048  | 745 | 644 |
| Buckeye Tobacco Settlement Fncg. Auth., Tobacco Settlement Asset-Backed Rev. Ref. Bonds, Series 2020-B-2, 5.00% <br> 6/1/2055  | 5850 | 4743 |
| County of Butler, Hospital Facs. Rev. Bonds (UC Health), Series 2016, 5.00% 11/15/2045  | 110 | 110 |
| County of Butler, Hospital Facs. Rev. Ref. Bonds (UC Health), Series 2017, 4.00% 11/15/2034  | 220 | 219 |
| County of Butler, Hospital Facs. Rev. Ref. Bonds (UC Health), Series 2017, 4.00% 11/15/2035  | 105 | 104 |
| City of Centerville, Health Care Improvement and Rev. Ref. Bonds, Series 2017, 5.25% 11/1/2037  | 860 | 869 |
| City of Centerville, Health Care Improvement and Rev. Ref. Bonds, Series 2017, 5.25% 11/1/2050  | 270 | 252 |
| Cleveland-Cuyahoga Port Auth., Lease Rev. Ref. and Improvement Bonds (Constellation Schools Project), Series <br> 2024-A, 5.875% 1/1/2049 <sup>(a)</sup>  | 195 | 194 |
| Cleveland-Cuyahoga Port Auth., Tax Increment Fncg. Rev. and Rev. Ref. Bonds (Flats East Bank Project), Series 2021-A, <br> 4.00% 12/1/2055 <sup>(a)</sup>  | 1510 | 1160 |
| Cleveland-Cuyahoga Port Auth., Tax Increment Fncg. Rev. and Rev. Ref. Bonds (Flats East Bank Project), Series 2021-B, <br> 4.50% 12/1/2055 <sup>(a)</sup>  | 1115 | 896 |
| Columbus-Franklin County Fin. Auth., Multi Family Housing Rev. Bonds (The Landmark on Scioto), Series 2025, 3.19% <br> 6/1/2044 (put 6/1/2029)  | 2500 | 2509 |
| Columbus-Franklin County Fin. Auth., Public Infrastructure Rev. Bonds (Bridge Park D Block Project), Series 2019-A-A, <br> 5.00% 12/1/2051  | 932 | 925 |
| County of Cuyahoga, Hospital Rev. Bonds (MetroHealth System), Series 2017, 5.00% 2/15/2052  | 250 | 237 |
| County of Cuyahoga, Hospital Rev. Bonds (MetroHealth System), Series 2017, 5.50% 2/15/2052  | 1150 | 1133 |
| County of Franklin, Health Care Facs. Rev. Bonds (Ohio Living Communities), Series 2020-B, 4.00% 7/1/2031  | 105 | 106 |
| County of Franklin, Health Care Facs. Rev. Bonds (Ohio Living Communities), Series 2020-B, 4.00% 7/1/2032  | 35 | 35 |
| County of Franklin, Health Care Facs. Rev. Bonds (Ohio Living Communities), Series 2020-B, 4.00% 7/1/2035  | 40 | 40 |
| County of Franklin, Health Care Facs. Rev. Bonds (Ohio Living Communities), Series 2020-B, 4.00% 7/1/2045  | 125 | 107 |
| County of Franklin, Health Care Facs. Rev. Bonds (OPRS Communities), Series 2016-C, 5.00% 7/1/2038  | 335 | 336 |
| County of Franklin, Health Care Facs. Rev. Ref. Bonds (Ohio Living Communities), Series 2022, 4.00% 7/1/2033  | 100 | 100 |
| County of Franklin, Health Care Facs. Rev. Ref. Bonds (Ohio Living Communities), Series 2022, 4.00% 7/1/2040  | 645 | 607 |
| County of Hamilton, Healthcare Improvement and Rev. Ref. Bonds (Life Enriching Communities Project), Series 2016, <br> 5.00% 1/1/2031  | 1835 | 1837 |
| County of Hamilton, Healthcare Improvement and Rev. Ref. Bonds (Life Enriching Communities Project), Series 2016, <br> 5.00% 1/1/2046  | 680 | 665 |
| County of Hamilton, Healthcare Improvement and Rev. Ref. Bonds (Life Enriching Communities Project), Series 2016, <br> 5.00% 1/1/2051  | 685 | 653 |
| County of Hamilton, Healthcare Improvement and Rev. Ref. Bonds (Life Enriching Communities Project), Series 2025, <br> 5.50% 1/1/2055  | 750 | 761 |
| County of Hamilton, Healthcare Rev. Bonds (Life Enriching Communities Project), Series 2017-A, 5.00% 1/1/2037  | 25 | 25 |
| County of Hamilton, Healthcare Rev. Bonds (Life Enriching Communities Project), Series 2023-A, 5.25% 1/1/2038  | 1000 | 1059 |
| County of Hamilton, Healthcare Rev. Bonds (Life Enriching Communities Project), Series 2023-A, 5.50% 1/1/2043  | 360 | 374 |
| County of Hamilton, Healthcare Rev. Bonds (Life Enriching Communities Project), Series 2017-A, 5.00% 1/1/2047  | 285 | 276 |
| County of Hamilton, Healthcare Rev. Bonds (Life Enriching Communities Project), Series 2017-A, 5.00% 1/1/2052  | 375 | 356 |
| County of Hamilton, Healthcare Rev. Bonds (Life Enriching Communities Project), Series 2023-A, 5.75% 1/1/2053  | 615 | 634 |
| County of Hamilton, Hospital Facs. Rev. Bonds (UC Health), Series 2025-A, 5.50% 8/1/2040  | 140 | 154 |
| County of Hamilton, Hospital Facs. Rev. Bonds (UC Health), Series 2025-A, 5.50% 8/1/2043  | 250 | 264 |
| County of Hamilton, Hospital Facs. Rev. Bonds (UC Health), Series 2020, 5.00% 9/15/2050  | 2140 | 2085 |
| County of Hamilton, Hospital Facs. Rev. Bonds (UC Health), Series 2025-A, 5.50% 8/1/2051  | 305 | 313 |
| Healthcare Fac. Rev. Bonds (Otterbein Homes Obligated Group), Series 2021-B, 4.00% 7/1/2041  | 160 | 155 |
| Healthcare Fac. Rev. Bonds (Otterbein Homes Obligated Group), Series 2021-B, 4.00% 7/1/2046  | 110 | 97 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **163** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Ohio (continued)** | **Ohio (continued)** | **Ohio (continued)** |
| Higher Educational Fac. Commission, Higher Educational Facs. Rev. Bonds (Xavier University 2024 Project), Series <br> 2024, 5.25% 5/1/2054  | USD<br> 330<br>| $335 |
| Higher Educational Facs. Commission, Healthcare Fac. Rev. Bonds (Ashtabula County Medical Center Obligated <br> Group), Series 2022, 5.25% 1/1/2047  | 1065 | 1074 |
| Higher Educational Facs. Commission, Healthcare Fac. Rev. Bonds (Ashtabula County Medical Center Obligated <br> Group), Series 2022, 5.25% 1/1/2052  | 765 | 767 |
| Higher Educational Facs. Commission, Healthcare Fac. Rev. Bonds (Judson Obligated Group 2020 Project), Series <br> 2020-A, 5.00% 12/1/2042  | 250 | 250 |
| Higher Educational Facs. Commission, Healthcare Fac. Rev. Bonds (Judson Obligated Group 2020 Project), Series <br> 2020-A, 5.00% 12/1/2045  | 470 | 453 |
| Higher Educational Facs. Commission, Healthcare Fac. Rev. Bonds (Judson Obligated Group 2020 Project), Series <br> 2020-A, 5.00% 12/1/2050  | 975 | 906 |
| Higher Educational Facs. Commission, Hospital Parking Rev. Bonds (University Circle, Inc. 2020 Project), Series 2020, <br> 5.00% 1/15/2045  | 415 | 421 |
| City of Hilliard, Hickory Chase Community Auth., Infrastructure Improvement Rev. Bonds (Hickory Chase Project), <br> Series 2019-A, 5.00% 12/1/2040 <sup>(a)</sup>  | 1650 | 1679 |
| City of Hilliard, Hickory Chase Community Auth., Infrastructure Improvement Rev. Bonds (Hickory Chase Project), <br> Series 2019-B-1, 6.00% 12/1/2046 <sup>(a)</sup>  | 315 | 316 |
| Hospital Rev. Bonds (Aultman Health Foundation), Series 2018, 5.00% 12/1/2028 <sup>(a)</sup>  | 390 | 395 |
| Hospital Rev. Bonds (Aultman Health Foundation), Series 2018, 5.00% 12/1/2033 <sup>(a)</sup>  | 2400 | 2428 |
| Hospital Rev. Bonds (Aultman Health Foundation), Series 2018, 5.00% 12/1/2038 <sup>(a)</sup>  | 745 | 740 |
| Hospital Rev. Bonds (Aultman Health Foundation), Series 2018, 5.00% 12/1/2048 <sup>(a)</sup>  | 1940 | 1731 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2020-A, 2.50% <br> 9/1/2035  | 45 | 41 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2022-A, 3.25% <br> 9/1/2052  | 65 | 64 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2023-B, 6.00% <br> 3/1/2055  | 340 | 372 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2024-A, 6.25% <br> 3/1/2055  | 530 | 576 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2024-B, 6.25% <br> 3/1/2055  | 105 | 115 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2025-A, 6.25% <br> 3/1/2056  | 590 | 652 |
| County of Lucas, Hospital Rev. Bonds (Promedica Healthcare Obligated Group), Series 2018-A, 5.25% 11/15/2048  | 6550 | 6457 |
| County of Montgomery, Hospital Facs. Rev. Bonds (Dayton Children's Hospital), Series 2021, 4.00% 8/1/2051  | 220 | 198 |
| County of Muskingum, Hospital Facs. Rev. Ref. Bonds (Genesis HealthCare System Obligated Group Project), Series <br> 2013, 5.00% 2/15/2048  | 875 | 840 |
| City of Norwood, Special Obligation Rev. Ref. Bonds (Rookwood Exchange Project), Series 2025, 5.00% 12/1/2041  | 410 | 419 |
| Port Auth., Gas Supply Rev. Bonds, Series 2024-A, 5.00% 2/1/2055 (put 8/1/2030)  | 500 | 532 |
| Private Activity Bonds (Portsmouth Bypass Project), Series 2015, AMT, 5.00% 12/31/2039  | 10 | 10 |
| Private Activity Bonds (Portsmouth Bypass Project), Series 2015, AMT, 5.00% 6/30/2053  | 1395 | 1368 |
| Southeastern Ohio Port Auth., Hospital Facs. Rev. Ref. and Improvement Bonds (Memorial Health System Obligated <br> Group Project), Series 2015, 5.00% 12/1/2035  | 95 | 94 |
| University of Cincinnati, GO Receipt Bonds, Series 2025-A, 5.25% 6/1/2049  | 295 | 312 |
| County of Warren, Healthcare Facs., Improvement and Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series <br> 2024, 5.00% 7/1/2054  | 500 | 497 |
| County of Washington, Hospital Facs. Rev. Bonds (Memorial Health System Obligated Group), Series 2022, 6.625% <br> 12/1/2042  | 365 | 387 |
| County of Washington, Hospital Facs. Rev. Bonds (Memorial Health System Obligated Group), Series 2022, 6.75% <br> 12/1/2052  | 1565 | 1616 |
|  |  | 68170 |
| **Oklahoma 0.52%** | **Oklahoma 0.52%** | **Oklahoma 0.52%** |
| Dev. Fin. Auth., Health System Rev. Bonds (OU Medicine Project), Series 2018-B, 5.25% 8/15/2043  | 165 | 166 |
| Dev. Fin. Auth., Health System Rev. Bonds (OU Medicine Project), Series 2018-B, 5.50% 8/15/2052  | 110 | 110 |
| Dev. Fin. Auth., Rev. Bonds (Oklahoma Proton Center), Series 2021-A-1, 7.25% 9/1/2051 <sup>(a)</sup>  | 555 | 553 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds (Homeownership Loan Program), Series 2023-C, 6.00% <br> 3/1/2054  | 85 | 93 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds (Homeownership Loan Program), Series 2024-A, 6.00% <br> 9/1/2054  | 565 | 620 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **164** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Oklahoma (continued)** | **Oklahoma (continued)** | **Oklahoma (continued)** |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds (Homeownership Loan Program), Series 2024-B, 6.25% <br> 9/1/2055  | USD<br> 335<br>| $373 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds (Homeownership Loan Program), Series 2025-A, 6.25% <br> 9/1/2056  | 350 | 394 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds (Homeownership Loan Program), Series 2025-E, 6.25% <br> 3/1/2057  | 2475 | 2819 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds (Homeownership Loan Program), Series 2025-C, 6.50% <br> 3/1/2057  | 2000 | 2296 |
| Norman Regional Hospital Auth., Hospital Rev. Bonds (Norman Regional Hospital Auth. Obligated Group), Series <br> 2019, 5.00% 9/1/2045  | 250 | 207 |
| Norman Regional Hospital Auth., Hospital Rev. Ref. Bonds (Norman Regional Hospital Auth. Obligated Group), Series <br> 2016, 5.00% 9/1/2027  | 50 | 46 |
| County of Oklahoma Fin. Auth., Charter School Lease Rev. Bonds (Astec Project), Series 2024, 5.25% 6/15/2034 <sup>(a)</sup>  | 70 | 71 |
| County of Oklahoma Fin. Auth., Charter School Lease Rev. Bonds (Astec Project), Series 2024, 6.00% 6/15/2044 <sup>(a)</sup>  | 110 | 108 |
| County of Oklahoma Fin. Auth., Charter School Lease Rev. Bonds (Astec Project), Series 2024, 6.25% 6/15/2054 <sup>(a)</sup>  | 155 | 150 |
| County of Oklahoma Fin. Auth., Charter School Lease Rev. Bonds (Astec Project), Series 2024, 6.50% 6/15/2064 <sup>(a)</sup>  | 320 | 317 |
| Trustees of the Tulsa Municipal Airport Trust, Rev. Bonds (American Airlines, Inc. Project), Series 2025, AMT, 6.25% <br> 12/1/2035  | 1085 | 1243 |
| Trustees of the Tulsa Municipal Airport Trust, Rev. Bonds (American Airlines, Inc. Project), Series 2025, AMT, 6.25% <br> 12/1/2040  | 2800 | 3110 |
| Turnpike Auth., Turnpike System Rev. Bonds, Series 2025-A, 5.50% 1/1/2054  | 345 | 375 |
|  |  | 13051 |
| **Oregon 0.44%** | **Oregon 0.44%** | **Oregon 0.44%** |
| City of Astoria, Hospital Facs. Auth., Rev. Bonds (Columbia Memorial Hospital Project), Series 2024, 5.25% 8/1/2049  | 110 | 111 |
| County of Clackamas, Hospital Fac. Auth., Senior Living Rev. Bonds (Williamette View Project), Series 2017-A, 5.00% <br> 11/15/2052  | 590 | 537 |
| County of Clackamas, Hospital Facs. Auth., Rev. Senior Living Bonds (Mary's Woods at Marylhurst Project), Series <br> 2018-A, 5.00% 5/15/2052  | 155 | 141 |
| County of Clackamas, Hospital Facs. Auth., Rev. Senior Living Bonds (Rose Villa, Inc. Obligated Group), Series 2020-A, <br> 5.125% 11/15/2040  | 70 | 70 |
| County of Clackamas, Hospital Facs. Auth., Rev. Senior Living Bonds (Rose Villa, Inc. Obligated Group), Series 2020-A, <br> 5.25% 11/15/2050  | 110 | 106 |
| County of Clackamas, Hospital Facs. Auth., Rev. Senior Living Bonds (Rose Villa, Inc. Obligated Group), Series 2020-A, <br> 5.375% 11/15/2055  | 110 | 108 |
| County of Deschutes, Hospital Fac. Auth., Rev. Bonds (St. Charles Health System, Inc.), Series 2020-A, 3.00% 1/1/2051  | 50 | 36 |
| Facs. Auth., Rev. Ref. Bonds (Samaritan Health Services Project), Series 2020-A, 5.00% 10/1/2040  | 250 | 257 |
| GO Bonds (Article XI-Q State Projects), Series 2025-A, 5.25% 5/1/2050  | 109 | 118 |
| Health and Science University, Rev. Bonds, Series 2019-A, 3.00% 7/1/2049  | 705 | 516 |
| Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series 2024-C, <br> 6.50% 7/1/2054  | 830 | 922 |
| County of Multnomah, Hospital Facs. Auth., Rev. and Rev. Ref. Green Bonds (Exempt Terwilliger Plaza - Parkview <br> Project), Series 2021-A, 4.00% 12/1/2036  | 55 | 53 |
| County of Multnomah, Hospital Facs. Auth., Rev. and Rev. Ref. Green Bonds (Exempt Terwilliger Plaza - Parkview <br> Project), Series 2021-A, 4.00% 12/1/2041  | 635 | 566 |
| County of Multnomah, Hospital Facs. Auth., Rev. and Rev. Ref. Green Bonds (Exempt Terwilliger Plaza - Parkview <br> Project), Series 2021-A, 4.00% 12/1/2051  | 1550 | 1195 |
| County of Multnomah, Hospital Facs. Auth., Rev. and Rev. Ref. Green Bonds (Exempt Terwilliger Plaza - Parkview <br> Project), Series 2021-A, 4.00% 12/1/2056  | 1705 | 1273 |
| County of Polk, Hospital Fac. Auth., Rev. Bonds (Dallas Retirement Village Project), Series 2015-A, 5.375% 7/1/2045  | 170 | 168 |
| County of Polk, Hospital Fac. Auth., Rev. Bonds (Dallas Retirement Village Project), Series 2015-A, 5.50% 7/1/2050  | 565 | 555 |
| County of Polk, Hospital Fac. Auth., Rev. Bonds (Dallas Retirement Village Project), Series 2020-A, 5.125% 7/1/2055  | 790 | 721 |
| Port of Portland, Portland International Airport Rev. Green Bonds, Series 30-A, AMT, 5.25% 7/1/2041  | 145 | 158 |
| Port of Portland, Portland International Airport Rev. Ref. Bonds, Series 30-B, AMT, 5.00% 7/1/2040  | 330 | 356 |
| Port of Portland, Portland International Airport Rev. Ref. Green Bonds, Series 29, AMT, 5.50% 7/1/2048  | 100 | 106 |
| City of Salem, Hospital Fac. Auth., Rev. and Rev. Ref. Bonds (Capital Manor Project), Series 2022, 4.00% 5/15/2040  | 305 | 290 |
| City of Salem, Hospital Fac. Auth., Rev. and Rev. Ref. Bonds (Capital Manor Project), Series 2022, 4.00% 5/15/2047  | 225 | 189 |
| City of Salem, Hospital Fac. Auth., Rev. and Rev. Ref. Bonds (Capital Manor Project), Series 2022, 4.00% 5/15/2057  | 350 | 274 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **165** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Oregon (continued)** | **Oregon (continued)** | **Oregon (continued)** |
| City of Salem, Hospital Fac. Auth., Rev. Bonds (Capital Manor Project), Series 2018, 5.00% 5/15/2033  | USD<br> 635<br>| $650 |
| City of Salem, Hospital Fac. Auth., Rev. Bonds (Capital Manor Project), Series 2018, 5.00% 5/15/2048  | 135 | 130 |
| City of Salem, Hospital Fac. Auth., Rev. Bonds (Capital Manor Project), Series 2018, 5.00% 5/15/2053  | 1350 | 1275 |
|  |  | 10881 |
| **Pennsylvania 3.53%** | **Pennsylvania 3.53%** | **Pennsylvania 3.53%** |
| County of Allegheny, Hospital Dev. Auth., Rev. Bonds (University of Pittsburgh Medical Center Issue), Series 2007-A-1, <br> (3-month USD CME Term SOFR x 0.67 + 0.82%) 3.577% 2/1/2037 <sup>(b)</sup>  | 380 | 380 |
| Allentown City School Dist., Unlimited Tax GO Bonds, Series 2018, BAM, 5.00% 2/1/2028  | 245 | 255 |
| City of Allentown, Neighborhood Improvement Zone Dev. Auth., Tax Rev. Bonds (City Center Project), Series 2018, <br> 5.00% 5/1/2042 <sup>(a)</sup>  | 165 | 166 |
| City of Allentown, Neighborhood Improvement Zone Dev. Auth., Tax Rev. Bonds (City Center Project), Series 2024, <br> 5.375% 5/1/2042 <sup>(a)</sup>  | 430 | 435 |
| City of Allentown, Neighborhood Improvement Zone Dev. Auth., Tax Rev. Bonds (City Center Project), Series 2025, <br> 5.50% 5/1/2042 <sup>(a)</sup>  | 515 | 558 |
| City of Allentown, Neighborhood Improvement Zone Dev. Auth., Tax Rev. Bonds (Waterfront - 30 E. Allen Street <br> Project), Series 2024-A, 5.25% 5/1/2042 <sup>(a)</sup>  | 195 | 197 |
| City of Allentown, Neighborhood Improvement Zone Dev. Auth., Tax Rev. Bonds (Waterfront - 30 E. Allen Street <br> Project), Series 2024-B, 6.00% 5/1/2042 <sup>(a)</sup>  | 435 | 444 |
| City of Allentown, Neighborhood Improvement Zone Dev. Auth., Tax Rev. Ref. Bonds, Series 2022, 5.00% 5/1/2042  | 110 | 114 |
| Berks County Municipal Auth. Rev. Bonds (Tower Health Project), Series 2024-A-3, 5.00% 6/30/2039  | 2964 | 2671 |
| Berks County Municipal Auth. Rev. Bonds (Tower Health Project), Series 2024-A-4, 7.00% 6/30/2039  | 4449 | 3585 |
| Berks County Municipal Auth. Rev. Bonds (Tower Health Project), CAB, Series 2024-B-2, 0% 6/30/2044 (8.00% on <br> 11/15/2029) <sup>(d)</sup>  | 2369 | 1213 |
| County of Berks, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (The Highlands at Wyomissing), Series 2017-C, <br> 5.00% 5/15/2042  | 165 | 166 |
| County of Berks, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (The Highlands at Wyomissing), Series 2017-A, <br> 5.00% 5/15/2047  | 150 | 146 |
| County of Berks, Municipal Auth., Rev. Bonds (Tower Health Project), Series 2024-A-2, 6.00% 6/30/2034  | 618 | 664 |
| County of Berks, Municipal Auth., Rev. Bonds (Tower Health Project), Series 2024-A-1, 8.00% 6/30/2034  | 2005 | 2012 |
| County of Bucks, Industrial Dev. Auth., Hospital Rev. Bonds (Grand View Hospital), Series 2021, 4.00% 7/1/2051  | 360 | 302 |
| County of Bucks, Industrial Dev. Auth., Hospital Rev. Bonds (St. Luke's University Health Network Project), Series 2019, <br> 4.00% 8/15/2050  | 1390 | 1198 |
| County of Chester, Industrial Dev. Auth., Rev. Bonds (Avon Grove Charter School Project), Series 2017-A, 5.00% <br> 12/15/2047  | 140 | 135 |
| County of Chester, Industrial Dev. Auth., Rev. Bonds (Avon Grove Charter School Project), Series 2017-A, 5.00% <br> 12/15/2051  | 70 | 66 |
| County of Chester, Industrial Dev. Auth., Rev. Bonds (Woodlands Greystone Project), Series 2018, 5.00% 3/1/2038 <sup>(a)</sup>  | 436 | 439 |
| County of Chester, Industrial Dev. Auth., Rev. Bonds (Woodlands Greystone Project), Series 2018, 5.125% 3/1/2048 <sup>(a)</sup>  | 459 | 451 |
| County of Chester, Industrial Dev. Auth., Rev. Notes (Avon Grove Charter School Project), Series 2024, 5.00% 3/1/2027  | 250 | 252 |
| County of Crawford, Hospital Auth., Rev. Bonds (Meadville Medical Center Project), Series 2016-A, 6.00% 6/1/2036  | 190 | 191 |
| County of Crawford, Hospital Auth., Rev. Bonds (Meadville Medical Center Project), Series 2016-A, 6.00% 6/1/2046  | 845 | 847 |
| County of Crawford, Hospital Auth., Rev. Bonds (Meadville Medical Center Project), Series 2016-A, 6.00% 6/1/2051  | 760 | 761 |
| County of Cumberland, Municipal Auth., Rev. Bonds (Diakon Lutheran Social Ministries Project), Series 2016, 5.00% <br> 1/1/2030  | 110 | 110 |
| County of Cumberland, Municipal Auth., Rev. Bonds (Diakon Lutheran Social Ministries Project), Series 2016, 5.00% <br> 1/1/2033  | 180 | 180 |
| County of Cumberland, Municipal Auth., Rev. Ref. Bonds (Asbury Pennsylvania Obligated Group), Series 2019, 3.375% <br> 1/1/2029  | 370 | 363 |
| County of Cumberland, Municipal Auth., Rev. Ref. Bonds (Asbury Pennsylvania Obligated Group), Series 2019, 5.00% <br> 1/1/2029  | 1015 | 1041 |
| County of Cumberland, Municipal Auth., Rev. Ref. Bonds (Asbury Pennsylvania Obligated Group), Series 2019, 5.00% <br> 1/1/2034  | 495 | 505 |
| County of Cumberland, Municipal Auth., Rev. Ref. Bonds (Asbury Pennsylvania Obligated Group), Series 2019, 5.00% <br> 1/1/2039  | 440 | 443 |
| County of Cumberland, Municipal Auth., Rev. Ref. Bonds (Asbury Pennsylvania Obligated Group), Series 2019, 5.00% <br> 1/1/2045  | 125 | 119 |
| County of Dauphin, General Auth., Health System Rev. Bonds (Pinnacle Health System Project), Series 2016-A, 5.00% <br> 6/1/2034  | 125 | 126 |
| County of Dauphin, General Auth., Health System Rev. Bonds (Pinnacle Health System Project), Series 2016-A, 5.00% <br> 6/1/2036  | 50 | 50 |
| City of Doylestown, Hospital Auth., Rev. Bonds (Doylestown Hospital), Series 2024, 5.00% 7/1/2031 <sup>(a)</sup>  | 195 | 207 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **166** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Pennsylvania (continued)** | **Pennsylvania (continued)** | **Pennsylvania (continued)** |
| City of Doylestown, Hospital Auth., Rev. Bonds (Doylestown Hospital), Series 2024, 5.375% 7/1/2039 <sup>(a)</sup>  | USD<br> 305<br>| $336 |
| City of Doylestown, Hospital Auth., Rev. Bonds (Doylestown Hospital), Series 2016-A, 5.00% 7/1/2041  | 675 | 678 |
| City of Doylestown, Hospital Auth., Rev. Bonds (Doylestown Hospital), Series 2016-A, 5.00% 7/1/2041 (preref. <br> 7/1/2026)  | 160 | 162 |
| City of Doylestown, Hospital Auth., Rev. Bonds (Doylestown Hospital), Series 2019-A, 4.00% 7/1/2045  | 380 | 356 |
| City of Doylestown, Hospital Auth., Rev. Bonds (Doylestown Hospital), Series 2019-A, 4.00% 7/1/2045 (preref. <br> 7/1/2029)  | 85 | 88 |
| City of Doylestown, Hospital Auth., Rev. Bonds (Doylestown Hospital), Series 2016-A, 5.00% 7/1/2046  | 720 | 722 |
| City of Doylestown, Hospital Auth., Rev. Bonds (Doylestown Hospital), Series 2016-A, 5.00% 7/1/2046 (preref. <br> 7/1/2026)  | 140 | 141 |
| City of Doylestown, Hospital Auth., Rev. Bonds (Doylestown Hospital), Series 2019-A, 5.00% 7/1/2049  | 315 | 320 |
| City of Doylestown, Hospital Auth., Rev. Bonds (Doylestown Hospital), Series 2019-A, 5.00% 7/1/2049 (preref. <br> 7/1/2029)  | 65 | 70 |
| City of Dubois, Hospital Auth., Hospital Rev. Bonds (Penn Highlands Healthcare), Series 2021, 5.00% 7/15/2032  | 65 | 66 |
| City of Dubois, Hospital Auth., Hospital Rev. Bonds (Penn Highlands Healthcare), Series 2018, 4.00% 7/15/2048  | 1325 | 1004 |
| City of Dubois, Hospital Auth., Hospital Rev. Bonds (Penn Highlands Healthcare), Series 2020, 4.00% 7/15/2050  | 150 | 112 |
| City of Dubois, Hospital Auth., Hospital Rev. Bonds (Penn Highlands Healthcare), Series 2021, 4.00% 7/15/2051  | 375 | 276 |
| Econ. Dev. Fncg. Auth., Exempt Facs. Rev. Ref. Bonds (National Gypsum Co.), Series 2014, AMT, 5.50% 11/1/2044  | 485 | 485 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Penndot Major Bridges Package One Project), Series 2022, <br> AMT, 5.25% 6/30/2035  | 280 | 308 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Penndot Major Bridges Package One Project), Series 2022, <br> AMT, 5.25% 6/30/2053  | 90 | 91 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Pennsylvania Rapid Bridge Replacement Project), Series 2015, <br> AMT, 5.00% 12/31/2026  | 250 | 252 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Pennsylvania Rapid Bridge Replacement Project), Series 2015, <br> AMT, 5.00% 12/31/2029  | 550 | 553 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Pennsylvania Rapid Bridge Replacement Project), Series 2015, <br> AMT, 5.00% 12/31/2034  | 8840 | 8881 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Pennsylvania Rapid Bridge Replacement Project), Series 2015, <br> AMT, 5.00% 6/30/2042  | 355 | 355 |
| Econ. Dev. Fncg. Auth., Rev. Bonds (Presbyterian Senior Living Project), Series 2023-B-2, 5.25% 7/1/2046  | 125 | 126 |
| Econ. Dev. Fncg. Auth., Rev. Bonds (Presbyterian Senior Living Project), Series 2023-B-1, 5.25% 7/1/2049  | 600 | 602 |
| Econ. Dev. Fncg. Auth., Solid Waste Disposal Facs. Rev. Bonds (Core Natural Resources, Inc. Project), Series 2025, AMT, <br> 5.45% 1/1/2051 (put 3/27/2035) <sup>(a)</sup>  | 1025 | 1092 |
| Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Noble Environmental, Inc. Project), Series 2025, AMT, 6.875% <br> 9/1/2047 <sup>(a)</sup>  | 1230 | 1276 |
| Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2021-A-2, AMT, <br> 4.60% 10/1/2046 (put 10/1/2026)  | 860 | 863 |
| Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Green Bonds (Covanta Project), Series 2019, AMT, 3.25% <br>8/1/2039 <sup>(a)</sup>  | 1190 | 939 |
| Econ. Dev. Fncg. Auth., UPMC Rev. Bonds, Series 2021-A, 3.00% 10/15/2046  | 1000 | 750 |
| County of Franklin, Industrial Dev. Auth., Rev. Bonds (Menno-Haven, Inc. Project), Series 2018, 5.00% 12/1/2043  | 120 | 115 |
| County of Franklin, Industrial Dev. Auth., Rev. Bonds (Menno-Haven, Inc. Project), Series 2018, 5.00% 12/1/2048  | 140 | 127 |
| Health and Education Facs. Auth., Rev. Bonds (Tel Hai Retirement Community Project), Series 2025, 5.00% 6/1/2035  | 580 | 633 |
| Health and Education Facs. Auth., Rev. Bonds (Tel Hai Retirement Community Project), Series 2025, 5.125% 6/1/2046  | 1045 | 1056 |
| Health and Education Facs. Auth., Rev. Bonds (Tel Hai Retirement Community Project), Series 2025, 5.25% 6/1/2055  | 950 | 956 |
| Health and Educational Facs. Auth., Health System Rev. Bonds (Mainline Health System), Series 2020-A, 4.00% <br> 9/1/2050  | 165 | 147 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 6/1/2028  | 60 | 62 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2024-1A, AMT, 5.00% 6/1/2031  | 200 | 213 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2024-1A, AMT, 5.00% 6/1/2033  | 100 | 108 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2020, 2.45% 6/1/2041  | 255 | 234 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2021-A, AMT, 2.625% 6/1/2042  | 815 | 739 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2022-A, AMT, 4.50% 6/1/2043  | 85 | 86 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2023-B, AMT, 4.00% 6/1/2044  | 525 | 519 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2024-1A, AMT, 4.125% 6/1/2045  | 204 | 201 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2025-1A, AMT, 4.75% 6/1/2046  | 641 | 634 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2021-B, AMT, 3.125% 6/1/2048  | 105 | 75 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2023-B, AMT, 5.00% 6/1/2050  | 140 | 135 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2025-1C, AMT, 5.50% 6/1/2052  | 3016 | 3066 |
| Higher Education Facs. Auth., Rev. Bonds (University of the Sciences in Philadelphia), Series 2015-A, 3.00% 11/1/2028  | 55 | 53 |
| Higher Educational Facs. Auth., Student Housing Rev. Bonds (University Properties, Inc. Student Housing Project at East <br> Stroudsburg University of Pennsylvania), Series 2016-A, 5.00% 7/1/2026  | 55 | 55 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **167** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Pennsylvania (continued)** | **Pennsylvania (continued)** | **Pennsylvania (continued)** |
| Higher Educational Facs. Auth., Student Housing Rev. Bonds (University Properties, Inc. Student Housing Project at East <br> Stroudsburg University of Pennsylvania), Series 2016-A, 5.00% 7/1/2031  | USD<br> 145<br>| $145 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2019-128-A, AMT, 4.75% 4/1/2033  | 15 | 15 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2017-124-A, AMT, 4.00% 10/1/2038  | 5 | 5 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2017-125-B, 3.65% 10/1/2042  | 125 | 117 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2019-131-A, 3.50% 4/1/2049  | 35 | 35 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2022-140-A, 5.00% 10/1/2052  | 550 | 571 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2024-144A, 6.00% 10/1/2054  | 695 | 752 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2024-145A, 6.00% 10/1/2054  | 315 | 342 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2025-150-A, 6.25% 10/1/2055  | 1515 | 1717 |
| City of Lancaster, Industrial Dev. Auth., Health Center Rev. Ref. Bonds (Landis Homes Retirement Community Project), <br> Series 2021, 4.00% 7/1/2037  | 40 | 40 |
| City of Lancaster, Industrial Dev. Auth., Health Center Rev. Ref. Bonds (Landis Homes Retirement Community Project), <br> Series 2021, 4.00% 7/1/2046  | 75 | 64 |
| City of Lancaster, Industrial Dev. Auth., Health Center Rev. Ref. Bonds (Landis Homes Retirement Community Project), <br> Series 2021, 4.00% 7/1/2051  | 235 | 192 |
| City of Lancaster, Industrial Dev. Auth., Health Center Rev. Ref. Bonds (Landis Homes Retirement Community Project), <br> Series 2021, 4.00% 7/1/2056  | 320 | 254 |
| County of Lancaster, Hospital Auth., Health Center Rev. Bonds (Brethren Village Project), Series 2017, 5.00% 7/1/2030  | 35 | 35 |
| County of Lancaster, Hospital Auth., Healthcare Facs. Rev. Bonds (Moravian Manors, Inc. Project), Series 2019-A, 5.00% <br> 6/15/2044  | 30 | 28 |
| Lancaster County, Hospital Auth., Health Center Rev. Bonds (Brethren Village Project), Series 2017, 5.125% 7/1/2037  | 900 | 902 |
| County of Monroe, Lease Rental Rev. Bonds (Centurion Foundation Lehigh Valley), Series 2024-A, 5.10% 6/15/2039 <sup>(g)</sup>  | 2260 | 2279 |
| County of Monroe, Lease Rental Rev. Bonds (Centurion Foundation Lehigh Valley), Series 2024-B, 8.00% 6/15/2039 <sup>(g)</sup>  | 1440 | 1465 |
| County of Montgomery, Higher Education and Health Auth., Rev. Bonds (Thomas Jefferson University), Series 2022-B, <br> 5.00% 5/1/2047  | 220 | 223 |
| County of Montgomery, Higher Education and Health Auth., Rev. Bonds (Thomas Jefferson University), Series 2018-A, <br> 4.00% 9/1/2049  | 110 | 95 |
| County of Montgomery, Higher Education and Health Auth., Rev. Bonds (Thomas Jefferson University), Series 2019, <br> 5.00% 9/1/2051  | 135 | 135 |
| County of Montgomery, Higher Education and Health Auth., Rev. Bonds (Thomas Jefferson University), Series 2022-B, <br> 4.00% 5/1/2052  | 275 | 234 |
| County of Montgomery, Higher Education and Health Auth., Rev. Ref. Bonds (Philadelphia Presbytery Homes, Inc. <br> Project), Series 2017, 5.00% 12/1/2032  | 40 | 41 |
| County of Montgomery, Higher Education and Health Auth., Rev. Ref. Bonds (Philadelphia Presbytery Homes, Inc. <br> Project), Series 2017, 5.00% 12/1/2037  | 385 | 390 |
| County of Montgomery, Higher Education and Health Auth., Rev. Ref. Bonds (Philadelphia Presbytery Homes, Inc. <br> Project), Series 2017, 5.00% 12/1/2047  | 720 | 694 |
| County of Montgomery, Higher Education and Health Auth., Rev. Ref. Bonds (Philadelphia Presbytery Homes, Inc. <br> Project), Series 2017, 4.00% 12/1/2048  | 470 | 389 |
| County of Montgomery, Industrial Dev. Auth., Retirement Communities Rev. Bonds (ACTS Retirement - Life <br> Communities, Inc. Obligated Group), Series 2016, 5.00% 11/15/2033  | 370 | 375 |
| County of Montgomery, Industrial Dev. Auth., Retirement Communities Rev. Bonds (ACTS Retirement - Life <br> Communities, Inc. Obligated Group), Series 2016, 5.00% 11/15/2036  | 2125 | 2147 |
| County of Montgomery, Industrial Dev. Auth., Retirement Communities Rev. Bonds (ACTS Retirement - Life <br> Communities, Inc. Obligated Group), Series 2025-A, 5.00% 11/15/2042  | 445 | 462 |
| County of Montgomery, Industrial Dev. Auth., Retirement Communities Rev. Bonds (ACTS Retirement - Life <br> Communities, Inc. Obligated Group), Series 2025-A, 5.00% 11/15/2049  | 445 | 446 |
| County of Montgomery, Industrial Dev. Auth., Retirement Communities Rev. Bonds (ACTS Retirement - Life <br> Communities, Inc. Obligated Group), Series 2025-A, 5.00% 11/15/2055  | 390 | 386 |
| County of Montgomery, Industrial Dev. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2020-C, 4.00% <br> 11/15/2043  | 210 | 195 |
| County of Montgomery, Industrial Dev. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2020-C, 5.00% <br> 11/15/2045  | 340 | 343 |
| County of Montgomery, Industrial Dev. Auth., Rev. Bonds (Waverly Heights, Ltd.), Series 2019, 5.00% 12/1/2044  | 140 | 140 |
| County of Northampton, Industrial Dev. Auth., Rev. Bonds (Morningstar Senior Living, Inc.), Series 2019, 5.00% <br> 11/1/2039  | 165 | 164 |
| Pennsylvania State University Bonds, Series 2025-A, 5.25% 9/1/2050  | 5000 | 5378 |
| Pennsylvania State University Bonds, Series 2025-A, 5.50% 9/1/2055  | 4425 | 4824 |
| City of Philadelphia, Hospitals and Higher Education Facs. Auth., Hospital Rev. Bonds (Temple University Health <br> System Obligated Group), Series 2017, 5.00% 7/1/2033  | 210 | 213 |
| City of Philadelphia, Industrial Dev. Auth., Charter School Rev. Bonds (First Philadelphia Preparatory Charter School <br> Project), Series 2024, 4.50% 6/15/2029 <sup>(a)</sup>  | 135 | 136 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **168** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Pennsylvania (continued)** | **Pennsylvania (continued)** | **Pennsylvania (continued)** |
| City of Philadelphia, Industrial Dev. Auth., Charter School Rev. Bonds (First Philadelphia Preparatory Charter School <br> Project), Series 2024, 4.50% 6/15/2034 <sup>(a)</sup>  | USD<br> 210<br>| $212 |
| City of Philadelphia, Industrial Dev. Auth., Charter School Rev. Bonds (First Philadelphia Preparatory Charter School <br> Project), Series 2024, 5.00% 6/15/2039 <sup>(a)</sup>  | 165 | 168 |
| City of Philadelphia, Industrial Dev. Auth., Charter School Rev. Bonds (First Philadelphia Preparatory Charter School <br> Project), Series 2024, 5.00% 6/15/2043 <sup>(a)</sup>  | 145 | 143 |
| City of Philadelphia, Industrial Dev. Auth., Charter School Rev. Bonds (Mast Community Charter School II Project), <br> Series 2020-A, 5.00% 8/1/2050  | 115 | 113 |
| City of Philadelphia, Industrial Dev. Auth., Charter School Rev. Bonds (Mast Community Charter School III Project), <br> Series 2021, 5.00% 8/1/2030  | 195 | 201 |
| City of Philadelphia, Industrial Dev. Auth., Charter School Rev. Bonds (Mast Community Charter School III Project), <br> Series 2021, 5.00% 8/1/2040  | 465 | 470 |
| City of Philadelphia, Industrial Dev. Auth., Charter School Rev. Bonds (Mast Community Charter School III Project), <br> Series 2021, 5.00% 8/1/2050  | 960 | 910 |
| City of Philadelphia, Industrial Dev. Auth., Charter School Rev. Bonds (Mast Community Charter School III Project), <br> Series 2021, 5.00% 8/1/2054  | 830 | 781 |
| City of Philadelphia, Industrial Dev. Auth., Rev. Bonds (Independence Charter School West), Series 2019, 5.00% <br> 6/15/2050  | 165 | 143 |
| City of Philadelphia, Industrial Dev. Auth., Rev. Bonds (University of the Sciences), Series 2017, 5.00% 11/1/2047  | 670 | 651 |
| Philadelphia School Dist., GO Bonds, Series 2016-F, 5.00% 9/1/2036  | 1000 | 1012 |
| Philadelphia School Dist., GO Bonds, Series 2016-F, 5.00% 9/1/2037  | 165 | 167 |
| Philadelphia School Dist., GO Bonds, Series 2016-F, 5.00% 9/1/2038  | 1000 | 1011 |
| Philadelphia School Dist., GO Bonds, Series 2018-A, AGI, 5.00% 9/1/2038  | 100 | 104 |
| Philadelphia School Dist., GO Rev. Ref. Bonds, Series 2007-A, FGIC-NATL, 5.00% 6/1/2034  | 295 | 336 |
| Quakertown, General Auth. Special Assessment Obligation Rev. Bonds (Milford Village Project), Series 2025, 6.50% <br> 3/1/2055 <sup>(a)</sup>  | 780 | 801 |
| Susquehanna Area Regional Airport Auth., Airport System Rev. Bonds, Series 2017, AMT, 5.00% 1/1/2035  | 615 | 622 |
| Susquehanna Area Regional Airport Auth., Airport System Rev. Bonds, Series 2017, AMT, 5.00% 1/1/2038  | 875 | 883 |
| Township of West Cornwall, Municipal Auth., Healthcare Facs. Rev. Bonds (Lebanon Valley Brethren Home Project), <br> Series 2021-A, 4.00% 11/15/2026  | 15 | 15 |
| Township of West Cornwall, Municipal Auth., Healthcare Facs. Rev. Bonds (Lebanon Valley Brethren Home Project), <br> Series 2021-A, 4.00% 11/15/2027  | 15 | 15 |
| Township of West Cornwall, Municipal Auth., Healthcare Facs. Rev. Bonds (Lebanon Valley Brethren Home Project), <br> Series 2021-A, 4.00% 11/15/2028  | 10 | 10 |
| Township of West Cornwall, Municipal Auth., Healthcare Facs. Rev. Bonds (Lebanon Valley Brethren Home Project), <br> Series 2021-A, 4.00% 11/15/2041  | 325 | 299 |
| Township of West Cornwall, Municipal Auth., Healthcare Facs. Rev. Bonds (Lebanon Valley Brethren Home Project), <br> Series 2021-A, 4.00% 11/15/2046  | 120 | 101 |
| Township of West Cornwall, Municipal Auth., Healthcare Facs. Rev. Bonds (Pleasant View Retirement Community <br> Project), Series 2018, 5.00% 12/15/2038  | 55 | 55 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-A, 4.00% 12/1/2044  | 45 | 43 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2019-A, 5.00% 12/1/2044  | 385 | 400 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2019-A, 5.00% 12/1/2049  | 155 | 160 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-A, 4.00% 12/1/2050  | 110 | 102 |
| County of Washington, Redev. Auth., Redev. Rev. Ref. Bonds (Victory Centre Tax Increment Fncg. Project), Series 2018, <br> 5.00% 7/1/2028  | 50 | 50 |
| County of Westmoreland, Industrial Dev. Auth., Health System Rev. Bonds (Excela Health Project), Series 2020-A, 4.00% <br> 7/1/2037  | 350 | 340 |
| Wilkes-Barre Area School Dist., GO Bonds, Series 2019, BAM, 5.00% 4/15/2059  | 110 | 111 |
|  |  | 87707 |
| **Puerto Rico 5.43%** | **Puerto Rico 5.43%** | **Puerto Rico 5.43%** |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2021-B, 5.00% 7/1/2033 <sup>(a)</sup>  | 445 | 466 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2021-B, 5.00% 7/1/2037 <sup>(a)</sup>  | 445 | 460 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2022-A, 5.00% 7/1/2037 <sup>(a)</sup>  | 2245 | 2331 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2021-A, 4.00% 7/1/2042 <sup>(a)</sup>  | 945 | 894 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2021-B, 4.00% 7/1/2042 <sup>(a)</sup>  | 5010 | 4741 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2022-A, 4.00% 7/1/2042 <sup>(a)</sup>  | 2380 | 2252 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2021-B, 4.00% 7/1/2047 <sup>(a)</sup>  | 1795 | 1589 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2020-A, 5.00% 7/1/2047 <sup>(a)</sup>  | 8000 | 7849 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 4.25% 7/1/2018 <sup>(f)</sup>  | 120 | 80 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 5.00% 7/1/2018 <sup>(f)</sup>  | 825 | 551 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **169** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Puerto Rico (continued)** | **Puerto Rico (continued)** | **Puerto Rico (continued)** |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2021 <sup>(f)</sup>  | USD<br> 55<br>| $37 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2023 <sup>(f)</sup>  | 30 | 20 |
| Electric Power Auth., Power Rev. Bonds, Series 2008-WW, 5.25% 7/1/2025 <sup>(f)</sup>  | 2615 | 1746 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-UU, AGI, 5.00% 7/1/2026  | 1000 | 1004 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 5.25% 7/1/2026 <sup>(f)</sup>  | 2430 | 1628 |
| Electric Power Auth., Power Rev. Bonds, Series 2005-RR, AGI, 5.00% 7/1/2028  | 400 | 400 |
| Electric Power Auth., Power Rev. Bonds, Series 2005-SS, AGI, 5.00% 7/1/2030  | 20 | 20 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2032 <sup>(f)</sup>  | 4350 | 2914 |
| Electric Power Auth., Power Rev. Bonds, Series 2003-NN, NATL, 4.75% 7/1/2033  | 235 | 231 |
| Electric Power Auth., Power Rev. Bonds, Series 2008-WW, 5.25% 7/1/2033 <sup>(f)</sup>  | 3900 | 2613 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2037 <sup>(f)</sup>  | 6065 | 4064 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-XX, 5.25% 7/1/2040 <sup>(f)</sup>  | 4955 | 3320 |
| Electric Power Auth., Power Rev. Bonds, Series 2012-A, 5.00% 7/1/2042 <sup>(f)</sup>  | 2885 | 1933 |
| Electric Power Auth., Power Rev. Custodial Receipts, Series 2025-PRB-RR, 0% 7/1/2030 <sup>(a)</sup>  | 250 | 163 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2007-UU, AGI, 3.469% 7/1/2017 <sup>(d)(f)</sup>  | 5 | 3 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2010-DDD, 3.625% 7/1/2021 <sup>(f)</sup>  | 5 | 3 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2010-DDD, 5.00% 7/1/2021 <sup>(f)</sup>  | 500 | 334 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2007-UU, AGI, (3-month USD CME Term SOFR x 0.67 + 0.52%) <br> 3.359% 7/1/2029 <sup>(b)</sup>  | 1650 | 1600 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2007-VV, NATL, 5.25% 7/1/2030  | 50 | 51 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2008-WW, 5.50% 7/1/2038 <sup>(f)</sup>  | 2075 | 1390 |
| GO Restructured Bonds, Series 2022-A-1, 5.625% 7/1/2027  | 554 | 566 |
| GO Restructured Bonds, Series 2022-A-1, 5.625% 7/1/2029  | 924 | 979 |
| GO Restructured Bonds, Series 2022-A-1, 5.75% 7/1/2031  | 715 | 786 |
| GO Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2033  | 685 | 685 |
| GO Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2035  | 1107 | 1089 |
| GO Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2037  | 2006 | 1946 |
| GO Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2041  | 7322 | 6777 |
| GO Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2046  | 2481 | 2168 |
| GO Restructured Bonds, CAB, Series 2022-A-1, 0% 7/1/2033  | 1111 | 805 |
| GO Taxable Bonds, Series 2022, 0% 11/1/2043 <sup>(b)</sup>  | 36105 | 23153 |
| GO Taxable Bonds, Series 2022, 5.25% 11/1/2051 <sup>(b)</sup>  | 9116 | 3088 |
| GO Taxable Bonds, CAB, Series 2022, 0% 11/1/2051  | 31070 | 20351 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. and Rev. <br> Ref. Bonds (Inter American University of Puerto Rico Project), Series 2012, 5.00% 10/1/2031  | 145 | 145 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. and Rev. <br> Ref. Bonds (University of the Sacred Heart Project), Series 2012, 4.00% 10/1/2026  | 95 | 95 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. and Rev. <br> Ref. Bonds (University of the Sacred Heart Project), Series 2012, 4.125% 10/1/2027  | 110 | 109 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. and Rev. <br> Ref. Bonds (University of the Sacred Heart Project), Series 2012, 4.375% 10/1/2031  | 175 | 173 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. and Rev. <br> Ref. Bonds (University of the Sacred Heart Project), Series 2012, 5.00% 10/1/2042  | 185 | 176 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. Bonds <br> (Inter American University of Puerto Rico Project), Series 2019, 5.00% 10/1/2026  | 210 | 213 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. Bonds <br> (Inter American University of Puerto Rico Project), Series 2019, 5.00% 10/1/2027  | 210 | 216 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. Bonds <br> (Inter American University of Puerto Rico Project), Series 2019, 5.00% 10/1/2028 <sup>(a)</sup>  | 235 | 246 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. Bonds <br> (Inter American University of Puerto Rico Project), Series 2004, NATL, 4.50% 10/1/2029  | 250 | 250 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. Bonds <br> (Inter American University of Puerto Rico Project), Series 2019, 5.00% 10/1/2034  | 255 | 269 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. Bonds <br> (Inter American University of Puerto Rico Project), Series 2019, 5.00% 10/1/2044  | 295 | 301 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Hospital Rev. and Rev. Ref. Bonds <br> (Hospital Auxilio Mutuo Obligated Group Project), Series 2021, 5.00% 7/1/2031  | 65 | 70 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Hospital Rev. and Rev. Ref. Bonds <br> (Hospital Auxilio Mutuo Obligated Group Project), Series 2021, 4.00% 7/1/2038  | 60 | 57 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Bonds, Series 2018-A-1, 4.55% 7/1/2040  | 219 | 219 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Bonds, Series 2018-A-1, 4.75% 7/1/2053  | 2311 | 2182 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Bonds, CAB, Series 2007-A, Class 2, 0% 8/1/2047 <sup>(b)</sup>  | 202 | 64 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Bonds, CAB, Series 2007-A, Class 2, 0% 8/1/2054 <sup>(b)</sup>  | 2358 | 494 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **170** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Puerto Rico (continued)** | **Puerto Rico (continued)** | **Puerto Rico (continued)** |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Series 2019-A-2, 4.329% 7/1/2040  | USD<br> 5,499<br>| $5387 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Series 2019-A-2, 4.329% 7/1/2040  | 1352 | 1324 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Series 2019-A-2, 4.784% 7/1/2058  | 6120 | 5724 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Series 2018-A-1, 5.00% 7/1/2058  | 3783 | 3648 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, CAB, Series 2018-A-1, 0% 7/1/2029  | 54 | 48 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, CAB, Series 2018-A-1, 0% 7/1/2031  | 72 | 59 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, CAB, Series 2018-B-1, 0% 7/1/2046  | 333 | 112 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, CAB, Series 2018-A-1, 0% 7/1/2046  | 18398 | 6182 |
|  |  | 134843 |
| **Rhode Island 0.43%** | **Rhode Island 0.43%** | **Rhode Island 0.43%** |
| Commerce Corp., Airport Rev. Bonds, Series 2016-D, 5.00% 7/1/2030  | 50 | 50 |
| Commerce Corp., Airport Rev. Bonds, Series 2016-D, 5.00% 7/1/2041  | 55 | 55 |
| Health and Educational Building Corp., Educational Institution Rev. Bonds (St. George's School Issue), Series 2021, <br> 4.00% 10/1/2046  | 30 | 28 |
| Health and Educational Building Corp., Educational Institution Rev. Bonds (St. George's School Issue), Series 2021, <br> 4.00% 10/1/2051  | 85 | 76 |
| Health and Educational Building Corp., Hospital Fncg. Rev. Bonds (Lifespan Obligated Group Issue), Series 2024, <br> 5.25% 5/15/2049  | 550 | 558 |
| Health and Educational Building Corp., Hospital Fncg. Rev. Bonds (Lifespan Obligated Group Issue), Series 2024, <br> 5.25% 5/15/2054  | 3165 | 3202 |
| Health and Educational Building Corp., Hospital Fncg. Rev. Ref. Bonds (Lifespan Obligated Group Issue), Series 2016, <br> 5.00% 5/15/2034  | 345 | 346 |
| Housing and Mortgage Fin. Corp., Multi Family Dev. Green Bonds, Series 2024-1-A, FHA, 3.60% 10/1/2054 (put <br> 10/1/2027)  | 245 | 245 |
| Student Loan Auth., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 12/1/2029  | 185 | 196 |
| Student Loan Auth., Education Loan Rev. Bonds, Series 2021-A, AMT, 2.25% 12/1/2039  | 760 | 674 |
| Student Loan Auth., Education Loan Rev. Bonds, Series 2022-A, AMT, 4.125% 12/1/2041  | 245 | 242 |
| Student Loan Auth., Education Loan Rev. Bonds, Series 2023-A, AMT, 4.125% 12/1/2042  | 805 | 792 |
| Student Loan Auth., Education Loan Rev. Bonds, Series 2024-A, AMT, 4.125% 12/1/2043  | 305 | 298 |
| Student Loan Auth., Education Loan Rev. Bonds, Series 2024-B, AMT, 4.125% 12/1/2043  | 455 | 441 |
| Student Loan Auth., Education Loan Rev. Bonds, Series 2025-1, AMT, 5.00% 12/1/2044  | 300 | 302 |
| Student Loan Auth., Student Loan Program Rev. Bonds, Series 2019-A, AMT, 5.00% 12/1/2026  | 250 | 253 |
| Student Loan Auth., Student Loan Program Rev. Bonds, Series 2018-A, AMT, 3.50% 12/1/2034  | 445 | 442 |
| Student Loan Auth., Student Loan Program Rev. Bonds, Series 2019-A, AMT, 2.875% 12/1/2035  | 215 | 213 |
| Student Loan Auth., Student Loan Program Rev. Bonds, Series 2020-A, AMT, 3.625% 12/1/2037  | 2365 | 2336 |
|  |  | 10749 |
| **South Carolina 1.46%** | **South Carolina 1.46%** | **South Carolina 1.46%** |
| Connector 2000 Assn., Inc., Toll Road Rev. Bonds, CAB, Series 2011-A-1, 0% 1/1/2032  | 857 | 614 |
| Connector 2000 Assn., Inc., Toll Road Rev. Bonds, CAB, Series 2011-A-1, 0% 1/1/2042  | 8643 | 3026 |
| Connector 2000 Assn., Inc., Toll Road Rev. Bonds, CAB, Series 2011-A-1, 0% 7/22/2051  | 208 | 33 |
| County of Dorchester, Summers Corner Improvement Dist., Assessment Rev. Bonds, Series 2023, 5.25% 10/1/2043  | 175 | 174 |
| County of Dorchester, Summers Corner Improvement Dist., Assessment Rev. Bonds, Series 2023, 5.50% 10/1/2051  | 255 | 250 |
| Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2021-D, 3.00% 7/1/2051  | 75 | 74 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2016-B-2, AMT, 4.00% 7/1/2043  | 5 | 5 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2022-B, 5.00% 1/1/2052  | 410 | 428 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2023-B, 6.00% 1/1/2054  | 340 | 372 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2024-A, 6.25% 7/1/2054  | 980 | 1086 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2024-B, 6.00% 1/1/2055  | 420 | 465 |
| Jobs-Econ. Dev. Auth., Econ. Dev. Rev. Bonds (Bishop Gadsden Episcopal Retirement Community), Series 2025, 5.25% <br> 4/1/2051  | 700 | 697 |
| Jobs-Econ. Dev. Auth., Econ. Dev. Rev. Bonds (Bishop Gadsden Episcopal Retirement Community), Series 2019-A, <br> 5.00% 4/1/2054  | 280 | 267 |
| Jobs-Econ. Dev. Auth., Econ. Dev. Rev. Bonds (The Woodlands at Furman Project), Series 2020-A, 5.00% 11/15/2042  | 195 | 195 |
| Jobs-Econ. Dev. Auth., Econ. Dev. Rev. Bonds (The Woodlands at Furman Project), Series 2020-A, 5.00% 11/15/2054  | 425 | 389 |
| Jobs-Econ. Dev. Auth., Econ. Dev. Rev. Bonds (Wesley Commons Project), Series 2025-A, 5.625% 10/1/2060  | 875 | 858 |
| Jobs-Econ. Dev. Auth., Educational Facs. Rev. Bonds (Riverwalk Academy Project), Series 2023-A, 7.125% 6/15/2053 <sup>(a)</sup>  | 435 | 441 |
| Jobs-Econ. Dev. Auth., Educational Facs. Rev. Bonds (Riverwalk Academy Project), Series 2023-A, 7.25% 6/15/2058 <sup>(a)</sup>  | 325 | 329 |
| Jobs-Econ. Dev. Auth., Educational Facs. Rev. Ref. Bonds (Green Charter School), Series 2021-A, 4.00% 6/1/2046 <sup>(a)</sup>  | 170 | 124 |
| Jobs-Econ. Dev. Auth., Educational Facs. Rev. Ref. Bonds (Green Charter School), Series 2021-A, 4.00% 6/1/2056 <sup>(a)</sup>  | 340 | 229 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **171** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **South Carolina (continued)** | **South Carolina (continued)** | **South Carolina (continued)** |
| Jobs-Econ. Dev. Auth., First Mortgage Health Care Facs. Rev. Ref. Bonds (The Lutheran Homes of South Carolina, Inc.), <br> Series 2017, 5.00% 5/1/2042  | USD<br> 205<br>| $185 |
| Jobs-Econ. Dev. Auth., Health Care Facs. Rev. and Rev. Ref. Bonds (Rolling Green Village Project), Series 2025-B, 5.80% <br> 12/1/2050  | 365 | 369 |
| Jobs-Econ. Dev. Auth., Health Care Facs. Rev. and Rev. Ref. Bonds (Rolling Green Village Project), Series 2025-A, 5.75% <br> 12/1/2060  | 570 | 564 |
| Jobs-Econ. Dev. Auth., Health Care Facs. Rev. Bonds (Novant Health Obligated Group), Series 2024-A, 5.50% <br> 11/1/2045  | 200 | 218 |
| Jobs-Econ. Dev. Auth., Health Care Facs. Rev. Bonds (Novant Health Obligated Group), Series 2024-A, 5.50% <br> 11/1/2046  | 330 | 356 |
| Jobs-Econ. Dev. Auth., Health Facs. Rev. Ref. Bonds (Wesley Commons), Series 2016, 5.00% 10/1/2036 <sup>(a)</sup>  | 225 | 226 |
| Jobs-Econ. Dev. Auth., Health Facs. Rev. Ref. Bonds (Wesley Commons), Series 2016, 5.00% 10/1/2041 <sup>(a)</sup>  | 940 | 921 |
| Jobs-Econ. Dev. Auth., Residential Facs. Rev. Bonds (Episcopal Home Still Hopes), Series 2017, 5.00% 4/1/2052  | 280 | 258 |
| Jobs-Econ. Dev. Auth., Residential Facs. Rev. Ref. Bonds (Episcopal Home Still Hopes), Series 2018-A, 5.00% 4/1/2032  | 235 | 237 |
| Jobs-Econ. Dev. Auth., Residential Facs. Rev. Ref. Bonds (Episcopal Home Still Hopes), Series 2018-A, 5.00% 4/1/2038  | 265 | 266 |
| Jobs-Econ. Dev. Auth., Retirement Community Rev. Bonds (Seafields at Kiawah Island Project), Series 2023-B-1, 5.75% <br> 11/15/2029  | 2560 | 2560 |
| Jobs-Econ. Dev. Auth., Retirement Community Rev. Bonds (Seafields at Kiawah Island Project), Series 2023-A, 7.50% <br> 11/15/2053  | 1135 | 1201 |
| Jobs-Econ. Dev. Auth., Retirement Community Rev. Bonds (Seafields at Kiawah Island Project), Series 2023-A, 7.75% <br> 11/15/2058  | 710 | 759 |
| Patriots Energy Group Fncg. Agcy., Gas Supply Rev. Bonds, Series 2023-B-1, 5.25% 2/1/2054 (put 3/1/2031)  | 255 | 276 |
| Public Service Auth., Rev. Improvement Obligations, Series 2022-B, BAM, 4.00% 12/1/2055  | 8485 | 7743 |
| Public Service Auth., Rev. Improvement Obligations (Santee Cooper), Series 2025-A, 5.00% 12/1/2055  | 500 | 511 |
| Public Service Auth., Rev. Obligations (Santee Cooper), Series 2016-B, 5.00% 12/1/2035  | 130 | 132 |
| Public Service Auth., Rev. Obligations (Santee Cooper), Series 2016-B, 5.00% 12/1/2041  | 8330 | 8401 |
| Public Service Auth., Rev. Ref. and Improvement Obligations (Santee Cooper), Series 2024-B, AGI, 5.00% 12/1/2054  | 570 | 591 |
| Public Service Auth., Rev. Ref. Obligations, Series 2016-A, 5.00% 12/1/2037  | 115 | 116 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2016-C, 5.00% 12/1/2031  | 115 | 117 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2015-A, 5.00% 12/1/2034  | 115 | 116 |
| County of Richland, The Village at Sandhill Improvement Dist., Rev. Ref. Assessment Bonds, Series 2021, 3.75% <br> 11/1/2036 <sup>(a)</sup>  | 155 | 132 |
|  |  | 36311 |
| **South Dakota 0.06%** | **South Dakota 0.06%** | **South Dakota 0.06%** |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2021-A, 3.00% 11/1/2051  | 85 | 84 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2024-A, 6.25% 5/1/2055  | 140 | 153 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2024-C, 6.25% 11/1/2055  | 565 | 633 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2025-A, 6.50% 11/1/2055  | 450 | 512 |
|  |  | 1382 |
| **Tennessee 0.45%** | **Tennessee 0.45%** | **Tennessee 0.45%** |
| Health and Educational Facs. Board of the Metropolitan Government of Nashville and Davidson County, Multi Family <br> Rev. Bonds (Artist Lofts), Series 2025, 3.20% 12/1/2059 (put 12/1/2029)  | 2000 | 2006 |
| Health and Educational Facs. Board, Rev. Bonds (Ascension Senior Credit Group), Series 2025-B-1, 5.00% 11/15/2048 <br> (put 2/1/2028)  | 2655 | 2904 |
| County of Knox, Health, Educational and Housing Fac. Board, Student Housing Rev Bonds (Provident Group - UTK <br> Properties, LLC. - University of Tennessee Project), Series 2024-A-1, BAM, 5.50% 7/1/2054  | 45 | 47 |
| County of Knox, Health, Educational and Housing Fac. Board, Student Housing Rev Bonds (Provident Group - UTK <br> Properties, LLC. - University of Tennessee Project), Series 2024-B-1, BAM, 5.25% 7/1/2064  | 2055 | 2107 |
| Metropolitan Dev. and Housing Agcy., Tennessee Tax Increment Rev. Bonds (Fifth & Broadway Dev. Project), Series <br> 2018, 5.125% 6/1/2036 <sup>(a)</sup>  | 250 | 254 |
| Metropolitan Government of Nashville and Davidson County, Industrial Dev. Board, Housing Rev. Bonds (Trinity Lane <br> Apartments Project), Series 2025, 3.15% 7/1/2044 (put 7/1/2029)  | 740 | 743 |
| Metropolitan Government of Nashville and Davidson County, Industrial Dev. Board, Special Assessment Rev. Bonds <br> (South Nashville Central Business Improvement Dist.), Series 2021-A, 4.00% 6/1/2051 <sup>(a)</sup>  | 1770 | 1523 |
| Metropolitan Government of Nashville and Davidson County, Industrial Dev. Board, Special Assessment Rev. Bonds <br> (South Nashville Central Business Improvement Dist.), CAB, Series 2021-B, 0% 6/1/2043 <sup>(a)</sup>  | 745 | 324 |
| Metropolitan Nashville Airport Auth., Airport Improvement Rev. Bonds, Series 2022-B, AMT, 5.50% 7/1/2042  | 100 | 107 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **172** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Tennessee (continued)** | **Tennessee (continued)** | **Tennessee (continued)** |
| Metropolitan Nashville Airport Auth., Airport Improvement Rev. Bonds, Series 2022-B, AMT, 5.00% 7/1/2052  | USD<br> 195<br>| $198 |
| Tennessee Energy Acquisition Corp., Commodity Project Rev. Bonds, Series 2021-A, 5.00% 5/1/2052 (put 11/1/2031)  | 855 | 914 |
| Tennessee Energy Acquisition Corp., Gas Project Rev. Bonds, Series 2023-A-1, 5.00% 5/1/2053 (put 5/1/2028)  | 145 | 149 |
|  |  | 11276 |
| **Texas 8.34%** | **Texas 8.34%** | **Texas 8.34%** |
| Airport System Facs. Rev. Bonds (United Airlines, Inc. Technical Operations Center Project), Series 2018, AMT, 5.00% <br> 7/15/2028  | 680 | 699 |
| Aldine Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 4.00% 2/15/2054  | 230 | 213 |
| Alvin Independent School Dist., Unlimited Tax Schoolhouse and Rev. Ref. Bonds, Series 2021, 3.00% 2/15/2039  | 265 | 243 |
| Arlington Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Legacy Traditional Schools - Texas Project), <br> Series 2021-A, 4.125% 2/15/2041  | 370 | 303 |
| Arlington Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Legacy Traditional Schools - Texas Project), <br> Series 2021-A, 4.375% 2/15/2051  | 810 | 589 |
| Arlington Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Legacy Traditional Schools - Texas Project), <br> Series 2021-A, 4.50% 2/15/2056  | 340 | 244 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Basis Texas Charter Schools, Inc.), Series 2024, 4.875% <br> 6/15/2054 <sup>(a)</sup>  | 150 | 135 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Basis Texas Charter Schools, Inc.), Series 2025, 5.75% <br> 6/15/2055 <sup>(a)</sup>  | 500 | 505 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Basis Texas Charter Schools, Inc.), Series 2024, 5.00% <br> 6/15/2064 <sup>(a)</sup>  | 215 | 193 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Basis Texas Charter Schools, Inc.), Series 2025, 5.875% <br> 6/15/2065 <sup>(a)</sup>  | 500 | 506 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2024-A, 4.25% <br> 8/15/2034  | 125 | 125 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2024-A, 4.75% <br> 8/15/2044  | 215 | 202 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2024-A, 5.00% <br> 8/15/2049  | 55 | 52 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2024-A, 5.00% <br> 8/15/2054  | 170 | 158 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Harmony Public Schools), Series 2024, 4.00% 2/15/2054  | 215 | 194 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (KIPP Texas, Inc.), Series 2019, 4.00% 8/15/2035  | 165 | 169 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (KIPP Texas, Inc.), Series 2019, 4.00% 8/15/2036  | 185 | 189 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (KIPP Texas, Inc.), Series 2019, 3.00% 8/15/2038  | 350 | 324 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Leadership Prep School), Series 2024, 4.00% 6/15/2049  | 60 | 54 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Leadership Prep School), Series 2024, 4.125% <br> 6/15/2054  | 45 | 41 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Legacy Traditional Schools - Texas Project), Series <br> 2022-A, 6.50% 2/15/2057 <sup>(a)</sup>  | 120 | 116 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Legacy Traditional Schools - Texas Project), Series <br> 2022-A, 6.75% 2/15/2062 <sup>(a)</sup>  | 605 | 604 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Newman International Academy), Series 2021-A, 5.00% <br> 8/15/2041  | 70 | 57 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (TGP Public Schools - The Gathering Place), Series <br> 2022-A, 5.75% 8/15/2062  | 100 | 52 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (UME Preparatory Academy), Series 2017-A, 5.00% <br> 8/15/2038  | 120 | 120 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (UME Preparatory Academy), Series 2017-A, 5.00% <br> 8/15/2048  | 300 | 282 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (UME Preparatory Academy), Series 2017-A, 5.00% <br> 8/15/2053  | 155 | 143 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2016-A, 2.75% 12/1/2026  | 45 | 45 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2016-A, 5.00% 12/1/2036  | 515 | 519 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2016-A, 5.00% 12/1/2046  | 445 | 440 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2016-A, 5.00% 12/1/2051  | 460 | 448 |
| Arlington Higher Education Fin. Corp., Education Rev. Ref. Bonds (Wayside Schools), Series 2021-A, 4.00% 8/15/2036  | 210 | 196 |
| Arlington Higher Education Fin. Corp., Education Rev. Ref. Bonds (Wayside Schools), Series 2021-A, 4.00% 8/15/2041  | 260 | 225 |
| Arlington Higher Education Fin. Corp., Education Rev. Ref. Bonds (Wayside Schools), Series 2021-A, 4.00% 8/15/2046  | 250 | 202 |
| City of Arlington, Special Tax Rev. Bonds, Series 2018-A, AGI, 5.00% 2/15/2043  | 90 | 92 |
| Aubrey Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 4.00% 2/15/2052  | 5000 | 4650 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **173** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Texas (continued)** | **Texas (continued)** | **Texas (continued)** |
| City of Austin, Airport System Rev. Ref. Bonds, Series 2025, AMT, 5.00% 11/15/2028  | USD<br> 135<br>| $142 |
| City of Austin, Airport System Rev. Ref. Bonds, Series 2025, AMT, 5.00% 11/15/2029  | 255 | 273 |
| City of Austin, Special Assessment Rev. Bonds (Whisper Valley Public Improvement Dist. Improvement Area #3), Series <br> 2024, 4.25% 11/1/2032 <sup>(a)</sup>  | 46 | 46 |
| City of Austin, Special Assessment Rev. Bonds (Whisper Valley Public Improvement Dist. Improvement Area #3), Series <br> 2024, 5.25% 11/1/2053 <sup>(a)</sup>  | 100 | 98 |
| City of Baytown, Municipal Dev. Dist., Hotel Rev. Bonds (Baytown Convention Center Hotel), Series 2021-A, 2.50% <br> 10/1/2031  | 210 | 189 |
| City of Baytown, Municipal Dev. Dist., Hotel Rev. Bonds (Baytown Convention Center Hotel), Series 2021-A, 4.00% <br> 10/1/2050  | 1210 | 965 |
| City of Baytown, Municipal Dev. Dist., Hotel Rev. Bonds (Baytown Convention Center Hotel), Series 2021-B, 5.00% <br> 10/1/2050 <sup>(a)</sup>  | 495 | 409 |
| Brazoria County Industrial Dev. Corp., Solid Waste Disposal Facs. Rev. Bonds (Aleon Renewable Metals, LLC Project), <br> Series 2022, AMT, 10.00% 6/1/2042 <sup>(a)(b)(f)</sup>  | 94 | 9 |
| Brazoria County Industrial Dev. Corp., Solid Waste Disposal Facs. Rev. Bonds (Gladieux Metals Recycling, LLC Project), <br> Series 2020, 8.50% 3/1/2039 <sup>(a)(f)</sup>  | 100 | 10 |
| Brazos Higher Education Auth., Inc., Student Loan Program Rev. Bonds, Series 2020-1-A, AMT, 2.35% 4/1/2040  | 10 | 10 |
| Brazos Higher Education Auth., Inc., Student Loan Program Rev. Bonds, Series 2020-1-B, AMT, 3.00% 4/1/2040  | 275 | 227 |
| Brazos Higher Education Auth., Inc., Student Loan Program Rev. Bonds, Series 2024-1-A, AMT, 4.00% 4/1/2045  | 570 | 519 |
| Brazos Higher Education Auth., Inc., Student Loan Program Rev. Bonds, Series 2025-1A, AMT, 4.50% 4/1/2046  | 700 | 713 |
| City of Buda, Special Assessment Rev. Bonds (Persimmon Public Improvement Dist. Major Improvement Area No. 1), <br> Series 2025, 5.875% 9/1/2045 <sup>(a)</sup>  | 104 | 104 |
| City of Buda, Special Assessment Rev. Bonds (Persimmon Public Improvement Dist. Major Improvement Area No. 1), <br> Series 2025, 6.00% 9/1/2055 <sup>(a)</sup>  | 236 | 233 |
| City of Buda, Special Assessment Rev. Bonds (Persimmon Public Improvement Dist. Major Improvement Area Project), <br> Series 2025, 5.75% 9/1/2033 <sup>(a)</sup>  | 43 | 44 |
| City of Buda, Special Assessment Rev. Bonds (Persimmon Public Improvement Dist. Major Improvement Area Project), <br> Series 2025, 6.625% 9/1/2045 <sup>(a)</sup>  | 440 | 440 |
| City of Buda, Special Assessment Rev. Bonds (Persimmon Public Improvement Dist. Major Improvement Area Project), <br> Series 2025, 6.75% 9/1/2055 <sup>(a)</sup>  | 508 | 502 |
| Castleberry Independent School Dist., Unlimited Tax School Board Building Bonds, Series 2024-B, 4.00% 2/15/2049  | 500 | 473 |
| Cedar Hill Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 4.00% 2/15/2050  | 270 | 253 |
| Celina Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 4.00% 2/15/2054  | 1110 | 1029 |
| City of Celina, Special Assessment Rev. Bonds (Mosaic Public Improvement Dist. Improvement Area #2 Project), Series <br> 2024, 5.125% 9/1/2044 <sup>(a)</sup>  | 125 | 127 |
| City of Celina, Special Assessment Rev. Bonds (Mosaic Public Improvement Dist. Improvement Area #2 Project), Series <br> 2024, 5.50% 9/1/2054 <sup>(a)</sup>  | 100 | 102 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2016-B, 5.00% 8/15/2028  | 60 | 61 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2022-A, 4.00% 8/15/2047  | 65 | 58 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2022-A, 3.00% 8/15/2051  | 390 | 272 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2014-A, 4.50% 12/1/2044  | 390 | 365 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2014-A, 4.60% 12/1/2049  | 100 | 91 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Valor Education), Series 2024-A, 5.00% 6/15/2034 <sup>(a)</sup>  | 40 | 40 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Valor Education), Series 2023-A, 5.75% 6/15/2038 <sup>(a)</sup>  | 100 | 101 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Valor Education), Series 2024-A, 5.75% 6/15/2044 <sup>(a)</sup>  | 145 | 138 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Valor Education), Series 2023-A, 6.00% 6/15/2048 <sup>(a)</sup>  | 405 | 384 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Valor Education), Series 2023-A, 6.25% 6/15/2053 <sup>(a)</sup>  | 370 | 356 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Valor Education), Series 2024-A, 6.00% 6/15/2054 <sup>(a)</sup>  | 85 | 79 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Vanguard Academy, Inc.), Series 2021, 3.00% 8/15/2046  | 810 | 630 |
| Clifton Higher Education Fin. Corp., Education Rev. Ref. Bonds (Idea Public Schools), Series 2024, 4.00% 8/15/2054  | 100 | 90 |
| Prosper Independent School Dist. (Counties of Collin and Denton), Unlimited Tax School Building Bonds, Series 2024, <br> 4.00% 2/15/2054  | 3000 | 2718 |
| Prosper Independent School Dist. (Counties of Collin and Denton), Unlimited Tax School Building Bonds, Series <br> 2024-A, 4.00% 2/15/2054  | 1260 | 1142 |
| Conroe Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 4.00% 2/15/2050  | 2015 | 1874 |
| Conroe Local Government Corp., Hotel Rev. Bonds (Conroe Convention Center Hotel), Series 2021-A, 2.50% <br> 10/1/2031  | 130 | 118 |
| Corpus Christi Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 4.00% 8/15/2047  | 110 | 104 |
| Cities of Dallas and Fort Worth, Dallas/Fort Worth International Airport, Joint Rev. Ref. and Improvement Bonds, Series <br> 2025-A, AMT, 5.00% 11/1/2031  | 5385 | 5905 |
| Dallas Area Rapid Transit Sales Tax Rev. Improvement and Rev. Ref. Bonds, Series 2021-B, 4.00% 12/1/2051  | 1555 | 1402 |
| County of Denton, Special Assessment Rev. Bonds (Duck Point Public Improvement Dist.), Series 2025, 5.625% <br> 12/31/2055 <sup>(a)</sup>  | 427 | 425 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **174** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Texas (continued)** | **Texas (continued)** | **Texas (continued)** |
| County of Denton, Special Assessment Rev. Bonds (Green Meadows Public Improvement Dist. Major Improvement <br> Area Project), Series 2025, 5.375% 12/31/2045 <sup>(a)</sup>  | USD<br> 181<br>| $187 |
| County of Denton, Special Assessment Rev. Bonds (Green Meadows Public Improvement Dist. Major Improvement <br> Area Project), Series 2025, 5.875% 12/31/2045 <sup>(a)</sup>  | 254 | 262 |
| County of Denton, Special Assessment Rev. Bonds (Green Meadows Public Improvement Dist. Major Improvement <br> Area Project), Series 2025, 6.125% 12/31/2055 <sup>(a)</sup>  | 574 | 593 |
| County of Denton, Special Assessment Rev. Bonds (Tabor Ranch Public Improvement Dist. Improvement Area #1 <br> Project), Series 2024-A, 5.25% 12/31/2044 <sup>(a)</sup>  | 169 | 169 |
| County of Denton, Special Assessment Rev. Bonds (Tabor Ranch Public Improvement Dist. Improvement Area #1 <br> Project), Series 2024-B, 5.75% 12/31/2044 <sup>(a)</sup>  | 115 | 115 |
| County of Denton, Special Assessment Rev. Bonds (Tabor Ranch Public Improvement Dist. Improvement Area #1 <br> Project), Series 2024-A, 5.625% 12/31/2054 <sup>(a)</sup>  | 228 | 228 |
| County of Denton, Special Assessment Rev. Bonds (Tabor Ranch Public Improvement Dist. Improvement Area #1 <br> Project), Series 2024-B, 6.125% 12/31/2054 <sup>(a)</sup>  | 158 | 158 |
| County of Denton, Special Assessment Rev. Bonds (Tabor Ranch Public Improvement Dist. Major Improvement Area <br> Project), Series 2024, 6.00% 12/31/2044 <sup>(a)</sup>  | 220 | 221 |
| County of Denton, Special Assessment Rev. Bonds (Tabor Ranch Public Improvement Dist. Major Improvement Area <br> Project), Series 2024, 6.25% 12/31/2054 <sup>(a)</sup>  | 333 | 328 |
| Eagle Mountain-Saginaw Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 4.00% <br> 8/15/2054  | 4500 | 4156 |
| East Lake Houston Management Dist., Special Assessment Rev. Bonds (Crosby Terrace Improvement Area Project), <br> Series 2025-A, 7.50% 9/15/2055 <sup>(a)</sup>  | 2250 | 2260 |
| East Waller County Management Dist., Special Assessment Rev. Bonds (SOFI Lakes Sections 1 and 2 Project), Series <br> 2025, 6.00% 9/15/2045 <sup>(a)</sup>  | 120 | 123 |
| East Waller County Management Dist., Special Assessment Rev. Bonds (SOFI Lakes Sections 1 and 2 Project), Series <br> 2025, 6.25% 9/15/2055 <sup>(a)</sup>  | 246 | 252 |
| County of El Paso, Hospital Dist. GO Bonds, Series 2025, AGI, 5.50% 2/15/2055  | 435 | 460 |
| Forney Independent School Dist., Unlimited Tax School Building Bonds, Series 2022-A, 3.00% 8/15/2037  | 145 | 139 |
| Forney Independent School Dist., Unlimited Tax School Building Bonds, Series 2022-A, 3.00% 8/15/2038  | 200 | 189 |
| Fort Bend County Industrial Dev. Corp., Industrial Dev. Rev. Bonds (NRG Energy, Inc. Project), Series 2012-A, 4.75% <br> 5/1/2038  | 475 | 475 |
| Fort Bend County Industrial Dev. Corp., Industrial Dev. Rev. Bonds (NRG Energy, Inc. Project), Series 2012-B, 4.75% <br> 11/1/2042  | 540 | 540 |
| City of Friendswood, Special Assessment Rev. Bonds (Friendswood City Center Public Improvement Dist. Initial Major <br> Improvements Project), Series 2024, 7.00% 9/15/2054  | 605 | 608 |
| Galena Park Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 3.00% 8/15/2049  | 140 | 112 |
| County of Galveston, Municipal Utility Dist. No. 79, Unlimited Tax Bonds, Series 2024, 4.625% 4/1/2047  | 550 | 506 |
| Greenwood Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 4.00% 2/15/2054  | 2585 | 2396 |
| County of Harris, Permanent Improvement Tax and Rev. Certs. of Obligation, Series 2024, 5.00% 9/15/2054  | 310 | 324 |
| County of Harris, Sports Auth., Rev. Ref. Bonds, Series 2024-B, AGI, 5.00% 11/15/2041  | 1450 | 1559 |
| County of Harris, Sports Auth., Rev. Ref. Bonds, Series 2024-B, AGI, 5.00% 11/15/2042  | 140 | 149 |
| County of Harris, Sports Auth., Rev. Ref. Bonds, Series 2020-A, AGI, 3.125% 11/15/2056  | 795 | 562 |
| County of Harris, Toll Road Rev. and Rev. Ref. Bonds, Series 2024-A, 4.00% 8/15/2054  | 410 | 365 |
| County of Harris, Unlimited Tax Road Rev. Ref. Bonds, Series 2024-A, 5.00% 9/15/2054  | 315 | 329 |
| Harris County Cultural Education Facs. Fin. Corp., First Mortgage Rev. Bonds (Brazos Presbyterian Homes, Inc. Project), <br> Series 2016, 5.00% 1/1/2037  | 330 | 330 |
| Harris County Cultural Education Facs. Fin. Corp., First Mortgage Rev. Bonds (Brazos Presbyterian Homes, Inc. Project), <br> Series 2013-A, 5.00% 1/1/2043  | 145 | 145 |
| Harris County Cultural Education Facs. Fin. Corp., First Mortgage Rev. Bonds (Brazos Presbyterian Homes, Inc. Project), <br> Series 2016, 5.00% 1/1/2048  | 5670 | 5442 |
| Harris County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Texas Children's Hospital), Series 2021-A, <br> 3.00% 10/1/2051  | 200 | 145 |
| Dept. of Housing and Community Affairs, Residential Mortgage Rev. Bonds, Series 2023-B, 6.00% 1/1/2054  | 450 | 494 |
| Dept. of Housing and Community Affairs, Residential Mortgage Rev. Bonds, Series 2024-A, 5.75% 7/1/2054  | 425 | 466 |
| Dept. of Housing and Community Affairs, Residential Mortgage Rev. Bonds, Series 2024-C, 6.00% 7/1/2054  | 1490 | 1649 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2021-A, 3.00% 3/1/2052  | 310 | 305 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2023-C, 6.00% 3/1/2054  | 155 | 170 |
| City of Houston, Airport System Facs. Rev. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series 2024-B, <br> AMT, 5.25% 7/15/2033  | 2320 | 2491 |
| City of Houston, Airport System Facs. Rev. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series 2024-B, <br> AMT, 5.25% 7/15/2034  | 5930 | 6382 |
| City of Houston, Airport System Facs. Rev. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series 2024-B, <br> AMT, 5.50% 7/15/2035  | 3150 | 3472 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **175** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Texas (continued)** | **Texas (continued)** | **Texas (continued)** |
| City of Houston, Airport System Facs. Rev. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series 2024-B, <br> AMT, 5.50% 7/15/2036  | USD<br> 5,905<br>| $6456 |
| City of Houston, Airport System Facs. Rev. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series 2024-B, <br> AMT, 5.50% 7/15/2037  | 2585 | 2811 |
| City of Houston, Airport System Facs. Rev. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series 2024-B, <br> AMT, 5.50% 7/15/2038  | 1170 | 1265 |
| City of Houston, Airport System Facs. Rev. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series 2024-B, <br> AMT, 5.50% 7/15/2039  | 3175 | 3410 |
| City of Houston, Airport System Facs. Rev. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series 2021-A, <br> AMT, 4.00% 7/1/2041  | 1870 | 1701 |
| City of Houston, Airport System Facs. Rev. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series <br> 2021-B-1, AMT, 4.00% 7/15/2041  | 7065 | 6427 |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2023-A, AMT, AGI, 5.25% 7/1/2041  | 100 | 108 |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2021-A, AMT, 4.00% 7/1/2046  | 550 | 499 |
| City of Houston, Airport System Special Facs. Rev. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series <br> 2018-C, AMT, 5.00% 7/15/2028  | 1320 | 1357 |
| City of Houston, Airport System Special Facs. Rev. Ref. Bonds (United Airlines, Inc. Terminal E Project), Series 2014, <br> AMT, 5.00% 7/1/2029  | 2150 | 2152 |
| City of Houston, Airport System Special Facs. Rev. Ref. Bonds (United Airlines, Inc. Terminal Improvement Projects), <br> Series 2020-A, AMT, 5.00% 7/1/2027  | 435 | 442 |
| City of Houston, Airport System Special Facs. Rev. Ref. Bonds (United Airlines, Inc. Terminal Improvement Projects), <br> Series 2020-C, AMT, 5.00% 7/15/2027  | 1390 | 1413 |
| City of Houston, Airport System Special Facs. Rev. Ref. Bonds (United Airlines, Inc. Terminal Improvement Projects), <br> Series 2025-B, AMT, 5.25% 7/15/2033  | 2000 | 2147 |
| City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds, Series <br> 2021, 3.00% 9/1/2032  | 60 | 60 |
| City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds, Series <br> 2021, 3.00% 9/1/2033  | 35 | 35 |
| City of Houston, GO Rev. Ref. Bonds, Series 2024-A, 5.25% 3/1/2049  | 185 | 197 |
| Hurst-Euless-Bedford Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 4.00% 8/15/2050  | 420 | 393 |
| Hutto Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.00% 8/1/2050  | 165 | 172 |
| Hutto Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 5.00% 8/1/2054  | 190 | 197 |
| City of Irving, Hospital Auth., Hospital Rev. Bonds (Baylor Scott & White Medical Center - Irving), Series 2017-A, 5.00% <br> 10/15/2044  | 110 | 110 |
| City of Justin, Special Assessment Rev. Bonds (Timberbrook Public Improvement Dist. No. 1 Improvement Area #2 <br> Project), Series 2021, 4.00% 9/1/2051 <sup>(a)</sup>  | 100 | 82 |
| City of Kerrville Health Facs. Dev. Corp., Hospital Rev. Bonds (Peterson Regional Medical Center Project), Series 2015, <br> 5.00% 8/15/2030  | 385 | 386 |
| City of Lavon, Special Assessment Rev. Bonds (Elevon Public Improvement Area #3-5 Project), Series 2025, 4.25% <br> 9/15/2035  | 1500 | 1499 |
| Little Elm Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 4.00% 8/15/2054  | 280 | 259 |
| Town of Little Elm, Spiritas Ranch Public Improvement Dist., Special Assessment Rev. Bonds, Series 2025, 4.50% <br> 9/1/2035 <sup>(a)</sup>  | 1036 | 1038 |
| Town of Little Elm, Spiritas Ranch Public Improvement Dist., Special Assessment Rev. Bonds, Series 2024, 5.50% <br> 9/1/2044 <sup>(a)</sup>  | 359 | 366 |
| Town of Little Elm, Spiritas Ranch Public Improvement Dist., Special Assessment Rev. Bonds, Series 2025, 5.625% <br> 9/1/2045 <sup>(a)</sup>  | 1500 | 1500 |
| Town of Little Elm, Spiritas Ranch Public Improvement Dist., Special Assessment Rev. Bonds, Series 2024, 5.75% <br> 9/1/2053 <sup>(a)</sup>  | 331 | 338 |
| Love Field Airport Modernization Corp., Special Facs. Rev. Bonds, Series 2012, AMT, 5.00% 11/1/2028  | 380 | 380 |
| Mansfield Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 4.00% 2/15/2054  | 825 | 762 |
| County of Matagorda, Navigation Dist. No. 1, Pollution Control Rev. Ref. Bonds (Central Power and Light Co. Project), <br> Series 1996, AMT, 4.25% 5/1/2030  | 70 | 73 |
| County of Matagorda, Navigation Dist. No. 1, Rev. Ref. Bonds (Houston Lighting & Power Co. Project), Series 1997, <br> AMT, AMBAC, 5.125% 11/1/2028  | 215 | 225 |
| McKinney Municipal Utility Dist. No. 2, Unlimited Tax Bonds, Series 2025, BAM, 4.00% 9/1/2048  | 1350 | 1216 |
| Melissa Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 4.00% 2/1/2054  | 110 | 102 |
| Mesquite Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2025, 5.25% 8/15/2052  | 5000 | 5332 |
| Mission Econ. Dev. Corp., Rev. Bonds (Natgasoline Project), Series 2018, AMT, 4.625% 10/1/2031 <sup>(a)</sup>  | 2500 | 2501 |
| Mission Econ. Dev. Corp., Solid Waste Disposal Rev. Bonds (Republic Services, Inc. Project), Series 2024, AMT, 4.00% <br> 6/1/2054 (put 6/1/2034)  | 745 | 750 |
| Mission Econ. Dev. Corp., Solid Waste Disposal Rev. Ref. Bonds (Graphic Packaging International, LLC Project), Series <br> 2025, AMT, 5.00% 12/1/2064 (put 6/1/2030)  | 1725 | 1789 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **176** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Texas (continued)** | **Texas (continued)** | **Texas (continued)** |
| County of Montgomery, Toll Road Auth., Toll Road Rev. Bonds, Series 2018, 5.00% 9/15/2043  | USD<br> 175<br>| $175 |
| Montgomery County Municipal Utility Dist. No. 138, Unlimited Tax Bonds, Series 2025, BAM, 4.125% 3/1/2050  | 1055 | 961 |
| Municipal Gas Acquisition and Supply Corp. II, Gas Supply Rev. Bonds, Series 2007-A, (3-month USD CME Term SOFR <br> x 0.66 + 0.86%) 3.319% 9/15/2027 <sup>(b)</sup>  | 70 | 70 |
| Municipal Gas Acquisition and Supply Corp. II, Gas Supply Rev. Bonds, Series 2007-B, (SIFMA Municipal Swap Index + <br> 0.55%) 3.87% 9/15/2027 <sup>(b)</sup>  | 100 | 100 |
| Municipal Gas Acquisition and Supply Corp. III, Gas Supply Rev. Ref. Bonds, Series 2021, 5.00% 12/15/2026  | 65 | 66 |
| Municipal Gas Acquisition and Supply Corp. III, Gas Supply Rev. Ref. Bonds, Series 2021, 5.00% 12/15/2029  | 530 | 562 |
| Municipal Gas Acquisition and Supply Corp. III, Gas Supply Rev. Ref. Bonds, Series 2021, 5.00% 12/15/2031  | 235 | 254 |
| Municipal Gas Acquisition and Supply Corp. IV, Gas Supply Rev. Bonds, Series 2023-A, 5.50% 1/1/2054 (put 1/1/2030)  | 320 | 340 |
| Municipal Gas Acquisition and Supply Corp. IV, Gas Supply Rev. Bonds, Series 2023-B, 5.50% 1/1/2054 (put 1/1/2034)  | 2680 | 2981 |
| Municipal Gas Acquisition and Supply Corp. V, Gas Supply Rev. Bonds, Series 2024, 5.00% 1/1/2055 (put 1/1/2034)  | 2105 | 2273 |
| Municipal Gas Acquisition and Supply Corp. VI, Gas Supply Rev. Bonds, Series 2025, 5.00% 1/1/2036  | 4000 | 4284 |
| New Braunfels Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 4.00% 2/1/2052  | 275 | 254 |
| New Caney Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 4.00% 2/15/2054  | 1745 | 1607 |
| New Hope Cultural Education Facs. Fin. Corp., Education Rev. and Rev. Ref. Bonds (Junilee Academic Center), Series <br> 2021, 4.00% 8/15/2041 <sup>(a)</sup>  | 235 | 206 |
| New Hope Cultural Education Facs. Fin. Corp., Education Rev. and Rev. Ref. Bonds (Junilee Academic Center), Series <br> 2021, 4.00% 8/15/2046 <sup>(a)</sup>  | 195 | 158 |
| New Hope Cultural Education Facs. Fin. Corp., Education Rev. and Rev. Ref. Bonds (Junilee Academic Center), Series <br> 2021, 4.00% 8/15/2051 <sup>(a)</sup>  | 475 | 365 |
| New Hope Cultural Education Facs. Fin. Corp., Education Rev. and Rev. Ref. Bonds (Junilee Academic Center), Series <br> 2021, 4.00% 8/15/2056 <sup>(a)</sup>  | 400 | 298 |
| New Hope Cultural Education Facs. Fin. Corp., Education Rev. Bonds (Beta Foundation), Series 2019-A, 3.375% <br> 8/15/2029 <sup>(a)</sup>  | 75 | 72 |
| New Hope Cultural Education Facs. Fin. Corp., Education Rev. Bonds (Beta Foundation), Series 2019-A, 5.00% <br> 8/15/2039 <sup>(a)</sup>  | 175 | 173 |
| New Hope Cultural Education Facs. Fin. Corp., Education Rev. Bonds (Beta Foundation), Series 2019-A, 5.00% <br> 8/15/2049 <sup>(a)</sup>  | 325 | 294 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Bella Vida Forefront Living Project), Series <br> 2025-B-3, 4.25% 10/1/2030  | 270 | 271 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Bella Vida Forefront Living Project), Series <br> 2025-B-2, 4.625% 10/1/2030  | 120 | 121 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Brazos Presbyterian Homes, Inc. Project), <br> Series 2025, 5.375% 1/1/2055  | 800 | 793 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Morningside Ministries Project), Series <br> 2020-A, 5.00% 1/1/2030  | 110 | 110 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Morningside Ministries Project), Series <br> 2022, 4.00% 1/1/2037  | 140 | 127 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Morningside Ministries Project), Series <br> 2020-A, 5.00% 1/1/2040  | 90 | 86 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Morningside Ministries Project), Series <br> 2022, 4.00% 1/1/2042  | 205 | 172 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Morningside Ministries Project), Series <br> 2020-A, 5.00% 1/1/2055  | 345 | 289 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Wesleyan Homes, Inc. Obligated Group), <br> Series 2019, 5.00% 1/1/2039  | 160 | 161 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Wesleyan Homes, Inc. Obligated Group), <br> Series 2019, 5.00% 1/1/2050  | 135 | 123 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Wesleyan Homes, Inc. Obligated Group), <br> Series 2019, 5.00% 1/1/2055  | 645 | 577 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Wesleyan Homes, Inc. Project), Series 2014, <br> 5.50% 1/1/2035  | 10 | 10 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Wesleyan Homes, Inc. Project), Series 2014, <br> 5.50% 1/1/2043  | 415 | 415 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Wesleyan Homes, Inc. Project), Series 2014, <br> 5.50% 1/1/2049  | 1025 | 1012 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Westminster Project), Series 2025, 5.00% <br> 11/1/2040  | 245 | 259 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Westminster Project), Series 2021, 4.00% <br> 11/1/2049  | 2250 | 1892 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Westminster Project), Series 2025, 5.00% <br> 11/1/2060  | 900 | 867 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **177** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Texas (continued)** | **Texas (continued)** | **Texas (continued)** |
| New Hope Cultural Education Facs. Fin. Corp., Senior Living Rev. Bonds (Wichita Falls Retirement Foundation Project), <br> Series 2021, 4.00% 1/1/2031  | USD<br> 320<br>| $318 |
| New Hope Cultural Education Facs. Fin. Corp., Senior Living Rev. Bonds (Wichita Falls Retirement Foundation Project), <br> Series 2021, 4.00% 1/1/2036  | 395 | 378 |
| New Hope Cultural Education Facs. Fin. Corp., Senior Living Rev. Bonds (Wichita Falls Retirement Foundation Project), <br> Series 2021, 4.00% 1/1/2041  | 250 | 223 |
| New Hope Cultural Education Facs. Fin. Corp., Senior Living. Rev. Bonds (Sanctuary LTC Project), Series 2021-A-1, <br> 5.25% 1/1/2042  | 390 | 382 |
| New Hope Cultural Education Facs. Fin. Corp., Senior Living. Rev. Bonds (Superior Living Foundation Project), Series <br> 2025-A, 6.25% 7/1/2045 <sup>(a)</sup>  | 220 | 215 |
| New Hope Cultural Education Facs. Fin. Corp., Senior Living. Rev. Bonds (Superior Living Foundation Project), Series <br> 2025-A, 6.50% 7/1/2056 <sup>(a)</sup>  | 2100 | 2049 |
| New Hope Cultural Education Facs. Fin. Corp., Student Housing Rev. Bonds (NCCD-Brenham Properties, LLC - Blinn <br> College Project), Series 2020-A, 5.00% 7/1/2040  | 140 | 106 |
| New Hope Cultural Education Facs. Fin. Corp., Student Housing Rev. Bonds (NCCD-Brenham Properties, LLC - Blinn <br> College Project), Series 2020-A, 5.00% 7/1/2057  | 1305 | 849 |
| Newark Higher Education Fin. Corp., Education Rev. Bonds (TLC Academy), Series 2021-A, 4.00% 8/15/2041  | 370 | 330 |
| Newark Higher Education Fin. Corp., Education Rev. Bonds (TLC Academy), Series 2021-A, 4.00% 8/15/2051  | 335 | 265 |
| Newark Higher Education Fin. Corp., Education Rev. Bonds (TLC Academy), Series 2021-A, 4.00% 8/15/2056  | 255 | 196 |
| Newark Higher Education Fin. Corp., Rev. Improvement and Rev. Ref. Bonds (Abilene Christian University Project), <br> Series 2022-A, 4.00% 4/1/2057  | 200 | 167 |
| Noble Ridge Municipal Utility Dist., Unlimited Tax Road Bonds, Series 2025, 4.375% 9/1/2050  | 1050 | 917 |
| North Parkway Municipal Management Dist. No. 1, Special Assessment Rev. Bonds (Major Improvements Project No. <br> 2), Series 2022, 5.50% 9/15/2032 <sup>(a)</sup>  | 539 | 556 |
| North Parkway Municipal Management Dist. No. 1, Special Assessment Rev. Bonds (Major Improvements Project No. <br> 2), Series 2022, 5.625% 9/15/2042 <sup>(a)</sup>  | 2173 | 2235 |
| North Parkway Municipal Management Dist. No. 1, Special Assessment Rev. Bonds (Major Improvements Project No. <br> 2), Series 2022, 5.75% 9/15/2052 <sup>(a)</sup>  | 2018 | 2044 |
| North Texas Higher Education Auth., Inc., Education Loan Rev. Bonds, Senior Series 2025-A, AMT, 5.00% 6/1/2033  | 110 | 118 |
| North Texas Higher Education Auth., Inc., Education Loan Rev. Bonds, Senior Series 2024-1-A, AMT, 4.125% 6/1/2045  | 705 | 695 |
| North Texas Higher Education Auth., Inc., Education Loan Rev. Bonds, Senior Series 2025-A, AMT, 4.50% 6/1/2046  | 395 | 400 |
| North Texas Tollway Auth., System Rev. Ref. Bonds, Series 2017-B, 5.00% 1/1/2048  | 250 | 252 |
| North Texas Tollway Auth., System Rev. Ref. Bonds, Series 2017-B, 5.00% 1/1/2048 (preref. 1/1/2027)  | 25 | 26 |
| North Texas Tollway Auth., System Rev. Ref. First Tier Bonds, Series 2020-A, 3.00% 1/1/2038  | 335 | 311 |
| North Texas Tollway Auth., System Rev. Ref. Second Tier Bonds, Series 2021-B, 3.00% 1/1/2051  | 215 | 156 |
| City of Pflugerville, Special Assessment Rev. Bonds (Meadowlark Preserve Public Improvement Dist. Project), Series <br> 2025, 5.125% 9/1/2045 <sup>(a)</sup>  | 200 | 198 |
| City of Pflugerville, Special Assessment Rev. Bonds (Meadowlark Preserve Public Improvement Dist. Project), Series <br> 2025, 5.375% 9/1/2055 <sup>(a)</sup>  | 556 | 550 |
| City of Plano, Special Assessment Rev. Bonds (Collin Creek West Public Improvement Dist. Project), Series 2021, 4.00% <br> 9/15/2051 <sup>(a)</sup>  | 606 | 487 |
| City of Plano, Special Assessment Rev. Bonds (Collin Creek West Public Improvement Dist. Project), Series 2021, <br> 4.375% 9/15/2051 <sup>(a)</sup>  | 1588 | 1297 |
| Prosper Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 4.00% 2/15/2052  | 1000 | 913 |
| Red River Education Fin. Corp., Higher Education Rev. Bonds (St. Edward's University Project), Series 2016, 4.00% <br> 6/1/2036  | 55 | 52 |
| Royce City Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% 2/15/2053  | 225 | 233 |
| City of Royse City, Special Assessment Rev. Bonds (Bahamas Public Improvement Dist. No. 2 Zone A Improvement <br> Area Project), Series 2025, 5.75% 9/15/2045  | 800 | 799 |
| City of Royse City, Special Assessment Rev. Bonds (Bahamas Public Improvement Dist. No. 2 Zone A Remainder Area <br> Project), Series 2025, 6.75% 9/15/2055 <sup>(a)</sup>  | 750 | 746 |
| City of San Antonio, Electric and Gas Systems Rev. Bonds, Series 2015, 4.00% 2/1/2038  | 8410 | 8419 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2024-A, 5.25% 2/1/2049  | 145 | 154 |
| Sherman Independent School Dist., Unlimited Tax School Building Bonds, Series 2023-B, 5.00% 2/15/2053  | 220 | 227 |
| Surface Transportation Corp., Private Activity Rev. Bonds (NTE Mobility Partners Segments 3 LLC Segment 3C Project), <br> Series 2019, AMT, 5.00% 6/30/2058  | 1765 | 1724 |
| Surface Transportation Corp., Rev. Ref. Bonds (LBJ Infrastructure Group, LLC I-635 Managed Lanes Project), Series <br> 2020-A, 4.00% 12/31/2037  | 165 | 166 |
| Surface Transportation Corp., Rev. Ref. Bonds (LBJ Infrastructure Group, LLC I-635 Managed Lanes Project), Series <br> 2020-A, 4.00% 12/31/2038  | 150 | 150 |
| Surface Transportation Corp., Rev. Ref. Bonds (LBJ Infrastructure Group, LLC I-635 Managed Lanes Project), Series <br> 2020-A, 4.00% 6/30/2039  | 50 | 50 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **178** |

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------

Capital Group Municipal High-Income ETF (continued)

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| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Texas (continued)** | **Texas (continued)** | **Texas (continued)** |
| Surface Transportation Corp., Rev. Ref. Bonds (LBJ Infrastructure Group, LLC I-635 Managed Lanes Project), Series <br> 2020-A, 4.00% 12/31/2039  | USD<br> 80<br>| $79 |
| Surface Transportation Corp., Rev. Ref. Bonds (LBJ Infrastructure Group, LLC I-635 Managed Lanes Project), Series <br> 2020-A, 4.00% 6/30/2040  | 35 | 34 |
| Tarrant County Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Air Force Villages Obligated Group), <br> Series 2016, 4.00% 5/15/2027  | 1865 | 1864 |
| Tarrant County Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Air Force Villages Obligated Group), <br> Series 2016, 4.00% 5/15/2031  | 615 | 614 |
| Tarrant County Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Air Force Villages Obligated Group), <br> Series 2016, 5.00% 5/15/2037  | 690 | 691 |
| Tarrant County Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Air Force Villages Obligated Group), <br> Series 2016, 5.00% 5/15/2045  | 1560 | 1490 |
| Tarrant County Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Barton Creek Senior Living Center, Inc. <br> - Querencia Project), Series 2015, 5.00% 11/15/2035  | 20 | 20 |
| Tarrant County Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Barton Creek Senior Living Center, Inc. <br> - Querencia Project), Series 2015, 5.00% 11/15/2040  | 450 | 450 |
| Tarrant County Cultural Education Facs. Fin. Corp., Rev. Bonds (Ascension Senior Credit Group), Series 2025-C-1, <br> 5.00% 11/15/2051 (put 11/15/2032)  | 6200 | 6921 |
| Harris County Cultural Education Facs. Fin. Corp., Rev. Ref. Bonds (Young Men's Christian Assn. of the Greater Houston <br> Area), Series 2013-A, 5.00% 6/1/2038  | 395 | 357 |
| Board of Regents of the Texas State University System, Rev. Fncg. System Rev. and Rev. Ref. Bonds, Series 2024, 4.00% <br> 3/15/2049  | 1305 | 1189 |
| Tomball Business Improvement Dist. No. 1, Unlimited Tax Bonds, Series 2024, 4.125% 11/15/2049  | 100 | 87 |
| Transportation Commission, State Highway 249 System First Tier Toll Rev. Bonds, CAB, Series 2019-A, 0% 8/1/2041  | 45 | 22 |
| Transportation Commission, State Highway 249 System First Tier Toll Rev. Bonds, CAB, Series 2019-A, 0% 8/1/2042  | 260 | 118 |
| University Hills Municipal Management Dist., Special Assessment Rev. Bonds (Improvement Area #1 Project), Series <br> 2025, 5.875% 9/1/2055  | 6193 | 6254 |
| University Hills Municipal Management Dist., Special Assessment Rev. Bonds (Major Improvement Area Project), Series <br> 2025, 5.875% 9/1/2055 <sup>(a)</sup>  | 2285 | 2307 |
| Board of Regents of the University of Houston System, Consolidated Rev. and Rev. Ref. Bonds, Series 2022-A, 5.00% <br> 2/15/2056  | 4000 | 4104 |
| Via Metropolitan Transit Advanced Transportation Dist., Sales Tax Rev. Bonds, Series 2024, 4.00% 8/1/2054  | 885 | 798 |
| Waller County Municipal Utility Dist. No. 55A, Unlimited Tax Road Bonds, Series 2025, 4.625% 9/1/2047  | 1025 | 983 |
| Waxachie Independent School Dist., School Building Bonds, Series 2024, 4.00% 2/15/2053  | 150 | 138 |
| Whitesboro Independent School Dist., Unlimited Tax School Building Bonds, Series 2024, 4.00% 2/15/2054  | 715 | 663 |
|  |  | 207119 |
| **United States 0.99%** | **United States 0.99%** | **United States 0.99%** |
| FHLMC Multi Family Structured Pass Through Certs., Green Bonds, Series ML-32, Class AUS, 4.837% 3/25/2042 <sup>(b)</sup>  | 1300 | 1362 |
| Freddie Mac, Multi Family Certs., Series 2023, 0.897% 6/25/2035 <sup>(a)(b)</sup>  | 14298 | 754 |
| Freddie Mac, Multi Family Certs., Series 2023, 2.75% 11/25/2035 <sup>(a)</sup>  | 1050 | 959 |
| Freddie Mac, Multi Family Certs., Series 2023, 4.003% 1/25/2040 <sup>(b)</sup>  | 977 | 954 |
| Freddie Mac, Multi Family Certs., Series 2023, 4.415% 8/25/2040 <sup>(b)</sup>  | 150 | 152 |
| Freddie Mac, Multi Family Certs., Green Bonds, Series 2025, 4.387% 11/25/2042 <sup>(b)</sup>  | 2131 | 2093 |
| Freddie Mac, Multi Family Mortgage Bonds, Series 2019-ML-05, Class ACA, 3.35% 11/25/2033  | 632 | 607 |
| Freddie Mac, Multi Family Mortgage Bonds, Series 2019-ML-05, Class AUS, 3.40% 1/25/2036  | 193 | 183 |
| Freddie Mac, Multi Family Mortgage Bonds, Series 2019-ML-06, Class XUS, interest only, 1.134% 6/25/2037 <sup>(b)(c)</sup>  | 5813 | 391 |
| Freddie Mac, Multi Family Mortgage Bonds, Series 2021-ML-10, Class XUS, 2.06% 1/25/2038 <sup>(a)(b)</sup>  | 2770 | 383 |
| Freddie Mac, Multi Family Mortgage Bonds, Series 2025-ML30, Class AIS, 4.669% 7/25/2042 <sup>(b)</sup>  | 598 | 616 |
| Freddie Mac, Multi Family Mortgage Certs., Green Bonds, Series 2024, 3.158% 12/25/2038 <sup>(b)</sup>  | 4359 | 3852 |
| Freddie Mac, Multi Family Mortgage Certs., Green Bonds, Series 2024-ML-22, 4.547% 10/25/2040 <sup>(b)</sup>  | 988 | 1010 |
| Freddie Mac, Multi Family Mortgage Green Bonds, Series 2023, Class ACA, 2.25% 9/25/2037  | 417 | 353 |
| Freddie Mac, Multi Family Mortgage Green Bonds, Series 2021-ML-10, Class AUS, 2.032% 1/25/2038 <sup>(a)</sup>  | 265 | 214 |
| Freddie Mac, Multi Family Mortgage Green Bonds, Series 2024, 3.427% 11/25/2038 <sup>(b)</sup>  | 9368 | 8836 |
| Freddie Mac, Multi Family Mortgage Green Bonds, Series 2024, 4.156% 5/25/2041 <sup>(b)</sup>  | 987 | 976 |
| Freddie Mac, Multi Family Mortgage Green Bonds, Series 2024, 4.596% 8/25/2041 <sup>(b)</sup>  | 895 | 925 |
|  |  | 24620 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **179** | Capital Group Fixed Income ETF Trust |

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------

Capital Group Municipal High-Income ETF (continued)

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| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Utah 2.69%** | **Utah 2.69%** | **Utah 2.69%** |
| Arrowhead Springs Public Infrastructure Dist., Limited Tax GO and Special Rev. Bonds, Series 2025, 6.00% 3/1/2056 <sup>(a)</sup>  | USD<br> 2,000<br>| $2003 |
| Arrowhead Springs Public Infrastructure Dist., Special Assessment Bonds (Arrowhead Springs Assessment Area), <br> Series 2025, 5.625% 12/1/2054 <sup>(a)</sup>  | 336 | 339 |
| Black Rock Mountain Resort Public Infrastructure Dist., Special Assessment Bonds (Black Rock Mountain Resort <br> Assessment Area), Series 2025, 5.875% 12/1/2054 <sup>(a)</sup>  | 1273 | 1314 |
| Charter School Fin. Auth., Charter School Rev. Bonds (Bridge Elementary Project), Series 2021-A, 4.25% 6/15/2051 <sup>(a)</sup>  | 155 | 117 |
| Charter School Fin. Auth., Charter School Rev. Ref. Bonds (Early Light Academy), Series 2017, 5.00% 7/15/2046 <sup>(a)</sup>  | 850 | 784 |
| Downtown Revitalization Public Infrastructure Dist., Sales Tax Rev. Bonds (SEG Redev. Project), Series 2025-A, AGI, <br> 5.50% 6/1/2055  | 175 | 186 |
| Fiddlers Canyon Infrastructure Fncg. Dist., Special Assessment Bonds (Fiddlers Canyon Assessment Area), Series 2024, <br> 5.625% 12/1/2053 <sup>(a)</sup>  | 1060 | 1011 |
| Firefly Public Infrastructure Dist. No. 1, Special Assessment Bonds (Firefly Assessment Area No. 1), Series 2024-A-2, <br> 5.625% 12/1/2043 <sup>(a)</sup>  | 652 | 661 |
| Hideout Local Dist. No. 1, Special Assessment Bonds, Series 2017, 6.75% 8/1/2037 <sup>(a)</sup>  | 2450 | 2313 |
| Housing Corp., Single Family Mortgage Bonds, Series 2023-A, 6.00% 7/1/2053  | 215 | 231 |
| Housing Corp., Single Family Mortgage Bonds, Series 2024-A, 6.50% 1/1/2054  | 45 | 49 |
| Housing Corp., Single Family Mortgage Bonds, Series 2024-C, 6.00% 7/1/2054  | 90 | 99 |
| Housing Corp., Single Family Mortgage Bonds, Series 2024-E, 6.00% 7/1/2054  | 110 | 121 |
| Housing Corp., Single Family Mortgage Bonds, Series 2024-I, 6.25% 7/1/2055  | 95 | 107 |
| Housing Corp., Single Family Mortgage Bonds, Series 2025-H, 6.50% 7/1/2055  | 3000 | 3419 |
| Housing Corp., Single Family Mortgage Bonds, Series 2025-E, 6.75% 7/1/2055  | 175 | 201 |
| Jordanelle Ridge Public Infrastructure Dist. No. 2, Limited Tax GO Bonds, Series 2023-A, 7.75% 3/1/2054 <sup>(a)</sup>  | 4943 | 5163 |
| MIDA Cormont Public Infrastructure Dist., Limited Tax GO Bonds, Convertible CAB, Series 2025-A-2, 0% 6/1/2055 <br> (6.75% on 6/1/2029) <sup>(a)(d)</sup>  | 673 | 573 |
| MIDA Mountain Village Public Infrastructure Dist., Special Assessment Rev. Bonds (Mountain Village Assessment Area <br> #2), Series 2021, 4.00% 8/1/2026 <sup>(a)</sup>  | 150 | 150 |
| MIDA Mountain Village Public Infrastructure Dist., Special Assessment Rev. Bonds (Mountain Village Assessment Area <br> #2), Series 2021, 4.00% 8/1/2030 <sup>(a)</sup>  | 100 | 101 |
| MIDA Mountain Village Public Infrastructure Dist., Special Assessment Rev. Bonds (Mountain Village Assessment Area <br> #2), Series 2021, 4.00% 8/1/2050 <sup>(a)</sup>  | 4985 | 4255 |
| MIDA Mountain Village Public Infrastructure Dist., Special Assessment Rev. Bonds (Mountain Village Assessment Area), <br> Series 2020-A, 4.25% 8/1/2035 <sup>(a)</sup>  | 365 | 368 |
| MIDA Mountain Village Public Infrastructure Dist., Special Assessment Rev. Bonds (Mountain Village Assessment Area), <br> Series 2020-A, 5.00% 8/1/2050 <sup>(a)</sup>  | 2540 | 2493 |
| MIDA Mountain Village Public Infrastructure Dist., Tax Allocation Rev. Bonds, Series 2024-1, 5.125% 6/15/2054 <sup>(a)</sup>  | 4429 | 4385 |
| MIDA Mountain Village Public Infrastructure Dist., Tax Allocation Rev. Bonds, Series 2024-2, 6.00% 6/15/2054 <sup>(a)</sup>  | 6500 | 6676 |
| MIDA Mountain Village Public Infrastructure Dist., Tax Allocation Rev. Bonds, Series 2025-1, 5.50% 6/1/2055 <sup>(a)</sup>  | 535 | 531 |
| MIDA Mountain Village Public Infrastructure Dist., Tax Allocation Rev. Bonds, Series 2025-1, 5.75% 6/1/2060 <sup>(a)</sup>  | 1330 | 1344 |
| MIDA Mountain Village Public Infrastructure Dist., Tax Allocation Rev. Bonds, CAB, Series 2025-2, 0% 6/1/2043 (5.75% <br> on 6/1/2031) <sup>(a)(d)</sup>  | 170 | 126 |
| Military Installation Dev. Auth., Tax Allocation and Hotel Tax Rev. Bonds, Series 2021-A-1, 4.00% 6/1/2052  | 500 | 415 |
| Military Installation Dev. Auth., Tax Allocation Rev. Bonds, Series 2021-A-2, 4.00% 6/1/2036  | 500 | 486 |
| Military Installation Dev. Auth., Tax Allocation Rev. Bonds, Series 2021-A-2, 4.00% 6/1/2041  | 766 | 709 |
| Military Installation Dev. Auth., Tax Allocation Rev. Bonds, Series 2021-A-2, 4.00% 6/1/2052  | 1100 | 900 |
| NS Public Infrastructure Dist. No. 1, Special Assessment Bonds (NS Assessment Area No. 1), Series 2024, 6.00% <br> 12/1/2044 <sup>(a)</sup>  | 699 | 662 |
| NWQ Public Infrastructure Dist., Limited Tax GO Bonds, Series 2025-A, 6.125% 3/1/2056 <sup>(a)</sup>  | 665 | 670 |
| Payson City, Red Bridge Public Infrastructure Dist. No. 1, Limited Tax GO Bonds, Series 2021-A, 4.125% 2/1/2041 <sup>(a)</sup>  | 500 | 431 |
| Payson City, Red Bridge Public Infrastructure Dist. No. 1, Limited Tax GO Bonds, Series 2021-A, 4.375% 2/1/2051 <sup>(a)</sup>  | 1000 | 789 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-A, AMT, 5.00% 7/1/2046  | 1775 | 1803 |
| Sawmill Infrastructure Fncg. Dist., Special Assessment Bonds (Sawmill Assessment Area), Series 2025, 6.00% <br> 12/1/2054 <sup>(a)</sup>  | 175 | 182 |
| Soleil Hills Public Infrastructure Dist. No. 1, Limited Tax GO and Special Rev. Bonds, Series 2025-A, 5.875% 3/1/2055 <sup>(a)</sup>  | 500 | 501 |
| Sun Stone Infrastructure Fncg. Dist., Special Assessment Bonds (Sun Stone Assessment Area No. 1), Series 2024, <br> 6.75% 6/1/2054 <sup>(a)</sup>  | 1761 | 1793 |
| Three Bridges Public Infrastructure Dist. No. 1, Special Assessment Bonds (Three Bridges Assessment Area No. 1), <br> Series 2024-1, 5.00% 12/1/2036 <sup>(a)(f)</sup>  | 1704 | 1718 |
| Three Bridges Public Infrastructure Dist. No. 1, Special Assessment Bonds (Three Bridges Assessment Area No. 1), <br> Series 2024-2, 6.00% 12/1/2053 <sup>(a)</sup>  | 2229 | 2239 |
| UIPA Crossroads Public Infrastructure Dist., Tax Differential Rev. Bonds, Series 2021, 4.125% 6/1/2041 <sup>(a)</sup>  | 2406 | 2318 |
| UIPA Crossroads Public Infrastructure Dist., Tax Differential Rev. Bonds, Series 2021, 4.375% 6/1/2052 <sup>(a)</sup>  | 8159 | 7482 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **180** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Utah (continued)** | **Utah (continued)** | **Utah (continued)** |
| Wakara Ridge Public Infrastructure Dist., Special Assessment Bonds (Wakara Ridge Assessment Area), Series 2025, <br> 5.625% 12/1/2054 <sup>(a)</sup>  | USD<br> 1,054<br>| $1076 |
| Wolf Creek Infrastructure Fncg. Dist. No. 1, Special Assessment Bonds (Wolf Creek Assessment Area No. 1), Series <br> 2025, 5.75% 12/1/2044  | 2934 | 3005 |
| Wood Ranch Public Infrastructure Dist., Special Assessment Bonds (Wood Ranch Assessment Area No. 1), Series 2024, <br> 5.625% 12/1/2053 <sup>(a)</sup>  | 392 | 396 |
|  |  | 66695 |
| **Vermont 0.30%** | **Vermont 0.30%** | **Vermont 0.30%** |
| Econ. Dev. Auth., Mortgage Rev. Bonds (Wake Robin Corp. Project), Series 2021-A, 4.00% 5/1/2037  | 935 | 901 |
| Econ. Dev. Auth., Mortgage Rev. Bonds (Wake Robin Corp. Project), Series 2021-A, 4.00% 5/1/2045  | 800 | 674 |
| Econ. Dev. Auth., Mortgage Rev. Bonds (Wake Robin Corp. Project), Series 2017-A, 5.00% 5/1/2047  | 105 | 100 |
| Econ. Dev. Auth., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2013, AMT, 4.625% <br> 4/1/2036 (put 4/3/2028) <sup>(a)</sup>  | 265 | 268 |
| Econ. Dev. Auth., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2022-A-2, AMT, 4.375% <br> 6/1/2052 (put 6/1/2032) <sup>(a)</sup>  | 1070 | 1078 |
| Housing Fin. Agcy., Multi Family Mortgage Bonds, Series 2021-A, 2.50% 8/15/2046  | 110 | 77 |
| Housing Fin. Agcy., Multi Family Mortgage Bonds, Series 2022-A, 2.85% 2/15/2052  | 110 | 76 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 6/15/2026  | 15 | 15 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2018-A, AMT, 5.00% 6/15/2027  | 30 | 30 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2018-A, AMT, 3.625% 6/15/2029  | 30 | 30 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2017-A, AMT, 4.00% 6/15/2029  | 75 | 75 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2018-A, AMT, 3.75% 6/15/2030  | 25 | 25 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 6/15/2030  | 120 | 127 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2018-A, AMT, 4.00% 6/15/2031  | 15 | 15 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 6/15/2031  | 120 | 129 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2018-A, AMT, 4.00% 6/15/2032  | 10 | 10 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2019-A, AMT, 3.00% 6/15/2035  | 280 | 272 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2020-A, AMT, 3.375% 6/15/2036  | 50 | 48 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2025-A, AMT, 4.75% 6/15/2036  | 305 | 313 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2025-A, AMT, 5.00% 6/15/2037  | 80 | 83 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2025-A, AMT, 5.00% 6/15/2038  | 90 | 92 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2021-A, AMT, 2.375% 6/15/2039  | 640 | 591 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2025-A, AMT, 5.00% 6/15/2039  | 105 | 107 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2022-A, AMT, 4.375% 6/15/2040  | 100 | 98 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2024-A, AMT, 4.50% 6/15/2040  | 85 | 84 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2025-A, AMT, 5.125% 6/15/2040  | 95 | 96 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2023-A, AMT, 4.00% 6/15/2041  | 375 | 361 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2025-A, AMT, 5.25% 6/15/2041  | 85 | 86 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2018-A, AMT, 4.375% 6/15/2046  | 690 | 611 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2019-B, AMT, 4.00% 6/15/2047  | 1225 | 1023 |
|  |  | 7495 |
| **Virgin Islands 0.45%** | **Virgin Islands 0.45%** | **Virgin Islands 0.45%** |
| Matching Fund Special Purpose Securitization Corp., Matching Fund Securitization Bonds, Series 2022-A, 5.00% <br> 10/1/2027  | 100 | 102 |
| Matching Fund Special Purpose Securitization Corp., Matching Fund Securitization Bonds, Series 2022-A, 5.00% <br> 10/1/2028  | 1220 | 1257 |
| Matching Fund Special Purpose Securitization Corp., Matching Fund Securitization Bonds, Series 2022-A, 5.00% <br> 10/1/2030  | 1530 | 1599 |
| Matching Fund Special Purpose Securitization Corp., Matching Fund Securitization Bonds, Series 2022-A, 5.00% <br> 10/1/2032  | 1150 | 1217 |
| Matching Fund Special Purpose Securitization Corp., Matching Fund Securitization Bonds, Series 2022-A, 5.00% <br> 10/1/2039  | 5300 | 5509 |
| Public Fin. Auth., Rev. and Rev. Ref. Bonds (Virgin Islands Gross Receipts Taxes Loan Note), Series 2014-C, 5.00% <br> 10/1/2039 <sup>(a)</sup>  | 585 | 585 |
| West Indian Co., Limited Port Facs. Rev. Bonds, Series 2022-A, 6.125% 10/1/2042 <sup>(a)</sup>  | 200 | 194 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **181** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Virgin Islands (continued)** | **Virgin Islands (continued)** | **Virgin Islands (continued)** |
| West Indian Co., Limited Port Facs. Rev. Bonds, Series 2022-B, AMT, 6.25% 10/1/2042 <sup>(a)</sup>  | USD<br> 300<br>| $303 |
| West Indian Co., Limited Port Facs. Rev. Bonds, Series 2022-A, 6.375% 4/1/2052 <sup>(a)</sup>  | 300 | 299 |
| West Indian Co., Limited Port Facs. Rev. Bonds, Series 2022-B, AMT, 6.50% 4/1/2052 <sup>(a)</sup>  | 100 | 98 |
|  |  | 11163 |
| **Virginia 1.62%** | **Virginia 1.62%** | **Virginia 1.62%** |
| County of Albemarle, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Westminster-Canterbury of the Blue <br> Ridge), Series 2022-A, 4.00% 6/1/2034  | 145 | 151 |
| County of Albemarle, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Westminster-Canterbury of the Blue <br> Ridge), Series 2022-A, 4.00% 6/1/2042  | 135 | 131 |
| County of Amelia, Industrial Dev. Auth., Solid Waste Disposal Rev. and Rev. Ref. Bonds (Waste Management, Inc. <br> Project), Series 2002, AMT, 1.45% 4/1/2027  | 445 | 432 |
| County of Arlington, Industrial Dev. Auth., Hospital Rev. Bonds (Virginia Hospital Center), Series 2020, 4.00% 7/1/2045  | 180 | 172 |
| City of Chesapeake, Chesapeake Transportation System Toll Road Rev. Ref. Bonds, Convertible CAB, Series 2012-B, <br> 4.875% 7/15/2040  | 165 | 170 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing <br> Project), Series 2018-A, 5.00% 1/1/2031  | 120 | 124 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing <br> Project), Series 2018-A, 5.00% 1/1/2033  | 155 | 159 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing <br> Project), Series 2018-A, 5.00% 1/1/2038  | 845 | 852 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing <br> Project), Series 2020-A, 5.00% 1/1/2040  | 380 | 380 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing <br> Project), Series 2018-A, 5.00% 1/1/2043  | 1490 | 1434 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing <br> Project), Series 2018-A, 5.00% 1/1/2048  | 445 | 409 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing <br> Project), Series 2020-A, 5.00% 1/1/2050  | 1455 | 1322 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing <br> Project), Series 2018-A, 5.00% 1/1/2055  | 1750 | 1558 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing <br> Project), Series 2020-A, 5.00% 1/1/2059  | 3465 | 3056 |
| City of Hampton, Peninsula Town Center Community Dev. Auth., Special Obligation Rev. Ref. Bonds, Series 2018, <br> 5.00% 9/1/2045 <sup>(a)</sup>  | 125 | 124 |
| County of Hanover, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Covenant Woods), Series 2022, 4.00% <br> 7/1/2028  | 180 | 180 |
| County of Hanover, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Covenant Woods), Series 2022, 4.00% <br> 7/1/2031  | 70 | 70 |
| County of Hanover, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Covenant Woods), Series 2022, 4.00% <br> 7/1/2040  | 680 | 626 |
| County of Hanover, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Covenant Woods), Series 2022, 4.00% <br> 7/1/2047  | 730 | 596 |
| County of Hanover, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Covenant Woods), Series 2018, 5.00% <br> 7/1/2048  | 200 | 191 |
| County of Henrico, Econ. Dev. Auth., Health Facs. Rev. Bonds (Bon Secours Mercy Health, Inc.), Series 2025-A, 5.00% <br> 11/1/2048  | 500 | 517 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2019-A, 5.00% 6/1/2034  | 115 | 117 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2019-A, 5.00% 6/1/2039  | 705 | 712 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2019-A, 5.00% 6/1/2044  | 245 | 243 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2019-A, 5.00% 6/1/2049  | 1000 | 947 |
| County of Henrico, Econ. Dev. Auth., Residential Care Facs. Rev. Ref. Bonds (LifeSpire of Virginia), Series 2017-C, 5.00% <br> 12/1/2047  | 3180 | 3182 |
| County of Isle of Wight, Econ. Dev. Auth., Health System Rev. Bonds (Riverside Health System), Series 2023, AGI, 5.25% <br> 7/1/2048  | 65 | 69 |
| County of Isle of Wight, Econ. Dev. Auth., Health System Rev. Bonds (Riverside Health System), Series 2023, AGI, 5.25% <br> 7/1/2053  | 205 | 216 |
| County of James City, Econ. Dev. Auth., Residential Care Fac. Rev. Bonds (Williamsburg Landing), Series 2024-A, 6.75% <br> 12/1/2053  | 95 | 102 |
| County of James City, Econ. Dev. Auth., Residential Care Fac. Rev. Bonds (Williamsburg Landing), Series 2024-A, <br> 6.875% 12/1/2058  | 360 | 389 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **182** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Virginia (continued)** | **Virginia (continued)** | **Virginia (continued)** |
| County of James City, Econ. Dev. Auth., Residential Care Fac. Rev. Bonds (Windsormeade), Series 2021-A, 4.00% <br> 6/1/2041  | USD<br> 210<br>| $186 |
| County of James City, Econ. Dev. Auth., Residential Care Fac. Rev. Bonds (Windsormeade), Series 2021-A, 4.00% <br> 6/1/2047  | 505 | 401 |
| County of James City, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Williamsburg Landing), Series 2021-A, <br> 4.00% 12/1/2035  | 225 | 219 |
| County of James City, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Williamsburg Landing), Series 2021-A, <br> 4.00% 12/1/2040  | 475 | 433 |
| City of Lexington, Industrial Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Kendal at Lexington), Series 2016, 4.00% <br> 1/1/2037  | 365 | 359 |
| City of Lynchburg, Econ. Dev. Auth., Hospital Rev. and Rev. Ref. Bonds (Centra Health Obligated Group), Series 2021, <br> 3.00% 1/1/2051  | 230 | 160 |
| City of Newport News, Econ. Dev. Auth., Residential Care Facs. Rev. Ref. Bonds (LifeSpire of Virginia), Series 2016, <br> 5.00% 12/1/2038  | 730 | 730 |
| City of Newport News, Industrial Dev. Auth., Health Systems Rev. Bonds, Series 2017-A, 5.00% 7/1/2046 <sup>(a)</sup>  | 1625 | 1602 |
| Econ. Dev. Auth. of the County of Powhatan, Grant Rev. Bonds (Chesterfield Hotel Project), Series 2025-A, 6.125% <br> 9/1/2060 <sup>(a)</sup>  | 1700 | 1675 |
| County of Prince William, Gateway Community Dev. Auth., Special Assessment Rev. Ref. Bonds, Series 2012, 5.00% <br> 3/1/2030  | 60 | 60 |
| Small Business Fncg. Auth., Health Care Facs. Rev. Bonds (Mary Washington Healthcare Obligated Group), Series <br> 2025-A-1, 5.25% 6/15/2050  | 1120 | 1163 |
| Small Business Fncg. Auth., Health Care Facs. Rev. Bonds (Mary Washington Healthcare Obligated Group), Series <br> 2025-A-1, 5.25% 6/15/2055  | 200 | 207 |
| Small Business Fncg. Auth., Private Activity Rev. Bonds (Transform 66 P3 Project), Series 2017, AMT, 5.00% 12/31/2049  | 220 | 212 |
| Small Business Fncg. Auth., Private Activity Rev. Bonds (Transform 66 P3 Project), Series 2017, AMT, 5.00% 12/31/2052  | 915 | 878 |
| Small Business Fncg. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2017-C, 5.00% 6/1/2037  | 455 | 456 |
| Small Business Fncg. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2017-C, 5.00% 6/1/2042  | 390 | 390 |
| Small Business Fncg. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2017-C, 5.00% 6/1/2047  | 505 | 486 |
| Small Business Fncg. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2017-C, 5.00% 6/1/2052  | 940 | 876 |
| Small Business Fncg. Auth., Residential Care Facs. Rev. and Rev. Ref. Bonds (LifeSpire of Virginia), Series 2021, 4.00% <br> 12/1/2041  | 785 | 749 |
| Small Business Fncg. Auth., Residential Care Facs. Rev. and Rev. Ref. Bonds (LifeSpire of Virginia), Series 2021, 4.00% <br> 12/1/2051  | 670 | 563 |
| Small Business Fncg. Auth., Residential Care Facs. Rev. Ref. Bonds (LifeSpire of Virginia), Series 2024-A, 5.00% <br> 12/1/2034  | 2790 | 3026 |
| Small Business Fncg. Auth., Residential Care Facs. Rev. Ref. Bonds (LifeSpire of Virginia), Series 2024-A, 5.00% <br> 12/1/2039  | 170 | 180 |
| Small Business Fncg. Auth., Residential Care Facs. Rev. Ref. Bonds (LifeSpire of Virginia), Series 2024-A, 5.50% <br> 12/1/2054  | 820 | 839 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 5.00% <br> 1/1/2031  | 155 | 163 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 5.00% <br> 1/1/2032  | 210 | 221 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 5.00% <br> 1/1/2034  | 255 | 268 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 4.00% <br> 1/1/2045  | 720 | 653 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 3.375% <br> 1/1/2051  | 200 | 155 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 4.00% <br> 1/1/2051  | 2515 | 2185 |
| Small Business Fncg. Auth., Solid Waste Disposal Rev. Bonds (Covanta Project), Series 2018-C, AMT, 5.00% 1/1/2048 <br> (put 7/1/2038) <sup>(a)</sup>  | 215 | 205 |
| Virginia Beach Dev. Auth., Residential Care Fac. Rev. Bonds (Westminster-Canterbury on Chesapeake Bay), Series <br> 2023-B-3, 5.375% 9/1/2029  | 455 | 460 |
| Virginia Beach Dev. Auth., Residential Care Fac. Rev. Bonds (Westminster-Canterbury on Chesapeake Bay), Series <br> 2023-B-2, 5.75% 9/1/2030  | 330 | 334 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **183** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Virginia (continued)** | **Virginia (continued)** | **Virginia (continued)** |
| Virginia Beach Dev. Auth., Residential Care Fac. Rev. Bonds (Westminster-Canterbury on Chesapeake Bay), Series <br> 2023-A, 6.50% 9/1/2043  | USD<br> 335<br>| $369 |
| Virginia Beach Dev. Auth., Residential Care Fac. Rev. Bonds (Westminster-Canterbury on Chesapeake Bay), Series <br> 2023-A, 7.00% 9/1/2053  | 280 | 307 |
| Virginia Beach Dev. Auth., Residential Care Fac. Rev. Bonds (Westminster-Canterbury on Chesapeake Bay), Series <br> 2023-A, 7.00% 9/1/2059  | 315 | 344 |
|  |  | 40145 |
| **Washington 2.06%** | **Washington 2.06%** | **Washington 2.06%** |
| Central Puget Sound Regional Transit Auth., Sales Tax and Motor Vehicle Excise Tax Improvement and Rev. Ref. Green <br> Bonds, Series 2021-S-1, 3.00% 11/1/2036  | 1165 | 1123 |
| Convention Center Public Facs. Dist., Lodging Tax Bonds, Series 2010-B, 5.00% 7/1/2043  | 120 | 121 |
| Convention Center Public Facs. Dist., Lodging Tax Bonds, Series 2010-B, 5.00% 7/1/2048  | 215 | 216 |
| Convention Center Public Facs. Dist., Lodging Tax Bonds, Series 2021-B, AGI, 3.00% 7/1/2058  | 240 | 165 |
| Convention Center Public Facs. Dist., Lodging Tax Bonds, Series 2018, 4.00% 7/1/2058  | 530 | 435 |
| Convention Center Public Facs. Dist., Lodging Tax Bonds, Series 2018, 5.00% 7/1/2058  | 120 | 119 |
| Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 3.00% 7/1/2058  | 300 | 199 |
| Econ. Dev. Fin. Auth., Environmental Facs. Rev. Green Bonds (North Pacific Paper Co. Recycling Project), Series 2020-A, <br> AMT, 5.625% 12/1/2040 <sup>(a)</sup>  | 1050 | 1074 |
| Health Care Facs. Auth., Rev. Bonds (CommonSpirit Health), Series 2025-A, 5.50% 9/1/2055  | 955 | 1011 |
| Health Care Facs. Auth., Rev. Bonds (Providence Health & Services), Series 2015-A, 4.00% 10/1/2045  | 275 | 245 |
| Health Care Facs. Auth., Rev. Bonds (Providence St. Joseph Health), Series 2014-D, 5.00% 10/1/2041  | 580 | 581 |
| Health Care Facs. Auth., Rev. Bonds (Providence St. Joseph Health), Series 2014-C, 5.00% 10/1/2044  | 220 | 220 |
| Health Care Facs. Auth., Rev. Bonds (Virginia Mason Medical Center), Series 2017, 5.00% 8/15/2033  | 250 | 257 |
| Health Care Facs. Auth., Rev. Bonds (Yakima Valley Memorial Hospital Assn.), Series 2016, 5.00% 12/1/2036 (preref. <br> 12/1/2026)  | 80 | 82 |
| Health Care Facs. Auth., Rev. Bonds (Yakima Valley Memorial Hospital Assn.), Series 2016, 5.00% 12/1/2041 (preref. <br> 12/1/2026)  | 225 | 230 |
| Health Care Facs. Auth., Rev. Bonds (Yakima Valley Memorial Hospital Assn.), Series 2016, 5.00% 12/1/2046 (preref. <br> 12/1/2026)  | 240 | 245 |
| Housing Fin. Commission, Municipal Certs., Series 2021-1, 3.50% 12/20/2035  | 4675 | 4549 |
| Housing Fin. Commission, Municipal Certs., Series 2023-1, 1.451% 4/20/2037 <sup>(b)</sup>  | 4488 | 431 |
| Housing Fin. Commission, Municipal Certs., Series 2023-1, 3.375% 4/20/2037  | 5136 | 4863 |
| Housing Fin. Commission, Municipal Certs., Series 2024-1-A, 4.084% 3/20/2040 <sup>(b)</sup>  | 3409 | 3346 |
| Housing Fin. Commission, Nonprofit Housing Rev. and Rev. Ref. Bonds (Eliseo Project), Series 2021-A, 4.00% <br>1/1/2057 <sup>(a)</sup>  | 200 | 131 |
| Housing Fin. Commission, Nonprofit Housing Rev. and Rev. Ref. Bonds (Emerald Heights Project), Series 2023-A, <br> 5.00% 7/1/2048  | 1880 | 1864 |
| Housing Fin. Commission, Nonprofit Housing Rev. and Rev. Ref. Bonds (Horizon House Project), Series 2017, 5.00% <br> 1/1/2033 <sup>(a)</sup>  | 130 | 131 |
| Housing Fin. Commission, Nonprofit Housing Rev. and Rev. Ref. Bonds (Horizon House Project), Series 2025-A, 6.25% <br> 1/1/2056  | 1000 | 999 |
| Housing Fin. Commission, Nonprofit Housing Rev. and Rev. Ref. Bonds (Horizon House Project), Series 2025-A, 6.25% <br> 1/1/2061  | 1950 | 1934 |
| Housing Fin. Commission, Nonprofit Housing Rev. Bonds (Bayview Manor Project), Series 2024, 6.00% 7/1/2059 <sup>(a)</sup>  | 200 | 204 |
| Housing Fin. Commission, Nonprofit Housing Rev. Bonds (Parkshore Juanita Bay Project), Series 2024-B-1, 4.50% <br> 7/1/2030 <sup>(a)</sup>  | 1170 | 1170 |
| Housing Fin. Commission, Nonprofit Housing Rev. Bonds (Parkshore Juanita Bay Project), Series 2024-A, 5.50% <br> 1/1/2044 <sup>(a)</sup>  | 325 | 319 |
| Housing Fin. Commission, Nonprofit Housing Rev. Bonds (Parkshore Juanita Bay Project), Series 2024-A, 5.75% <br> 1/1/2053 <sup>(a)</sup>  | 140 | 135 |
| Housing Fin. Commission, Nonprofit Housing Rev. Bonds (Parkshore Juanita Bay Project), Series 2024-A, 5.875% <br> 1/1/2059 <sup>(a)</sup>  | 120 | 116 |
| Housing Fin. Commission, Nonprofit Housing Rev. Bonds (Rockwood Retirement Communities), Series 2020-A, 5.00% <br> 1/1/2056 <sup>(a)</sup>  | 100 | 87 |
| Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Horizon House Project), Series 2017, 5.00% 1/1/2038 <sup>(a)</sup>  | 360 | 355 |
| Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Horizon House Project), Series 2017, 5.00% 1/1/2043 <sup>(a)</sup>  | 340 | 318 |
| Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Horizon House Project), Series 2017, 5.00% 1/1/2048 <sup>(a)</sup>  | 195 | 172 |
| Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Judson Park Project), Series 2018, 5.00% 7/1/2038 <sup>(a)</sup>  | 175 | 176 |
| Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Judson Park Project), Series 2018, 5.00% 7/1/2048 <sup>(a)</sup>  | 155 | 142 |
| Housing Fin. Commission, Nonprofit Housing, Rev. and Rev. Ref. Bonds (Bayview Manor Senior Project), Series 2016-A, <br> 5.00% 7/1/2051 <sup>(a)</sup>  | 520 | 472 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **184** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Washington (continued)** | **Washington (continued)** | **Washington (continued)** |
| Housing Fin. Commission, Nonprofit Rev. Bonds (Spokane International Academy Project), Series 2021-A, 5.00% <br> 7/1/2056 <sup>(a)</sup>  | USD<br> 255<br>| $214 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2021-1-N, 3.00% 12/1/2049  | 85 | 84 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2021-2-N, 3.00% 6/1/2051  | 90 | 88 |
| Kalispel Tribe of Indians, Priority Distribution Payment Bonds, Series 2018-A, 5.00% 1/1/2032 <sup>(a)</sup>  | 220 | 224 |
| Kalispel Tribe of Indians, Priority Distribution Payment Bonds, Series 2018-B, 5.00% 1/1/2032 <sup>(a)</sup>  | 155 | 158 |
| Kalispel Tribe of Indians, Priority Distribution Payment Bonds, Series 2018-A, 5.25% 1/1/2038 <sup>(a)</sup>  | 1200 | 1223 |
| Kalispel Tribe of Indians, Priority Distribution Payment Bonds, Series 2018-B, 5.25% 1/1/2038 <sup>(a)</sup>  | 240 | 245 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Green Notes, Series 2021, 4.00% 7/1/2031  | 4040 | 4171 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 3.00% 7/1/2033 <sup>(a)</sup>  | 130 | 125 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 3.00% 7/1/2034 <sup>(a)</sup>  | 280 | 267 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 4.00% 7/1/2034 <sup>(a)</sup>  | 105 | 107 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 3.00% 7/1/2035 <sup>(a)</sup>  | 365 | 344 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 3.00% 7/1/2043 <sup>(a)</sup>  | 675 | 550 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 3.00% 7/1/2048 <sup>(a)</sup>  | 3080 | 2262 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 3.00% 7/1/2048  | 765 | 559 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 3.00% 7/1/2058 <sup>(a)</sup>  | 3350 | 2225 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, AGI, 3.00% 7/1/2058  | 805 | 553 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 3.00% 7/1/2058 <sup>(a)</sup>  | 450 | 300 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 4.00% 7/1/2058 <sup>(a)</sup>  | 165 | 136 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-A, 5.00% 7/1/2058  | 420 | 417 |
| Port of Seattle, Industrial Dev. Corp., Special Facs. Rev. Ref. Bonds (Delta Air Lines, Inc. Project), Series 2012, AMT, <br> 5.00% 4/1/2030  | 275 | 275 |
| Port of Seattle, Rev. and Rev. Ref. Bonds, Series 2022-B, AMT, 5.00% 8/1/2042  | 55 | 58 |
| Port of Seattle, Special Fac. Rev. Ref. Bonds (SEATAC Fuel Facs., LLC), Series 2013, AMT, 5.00% 6/1/2030  | 110 | 110 |
| Port of Seattle, Special Fac. Rev. Ref. Bonds (SEATAC Fuel Facs., LLC), Series 2013, AMT, 5.00% 6/1/2031  | 220 | 220 |
| County of Skagit, Public Hospital Dist. No. 1 (Skagit Regional Health), Hospital Rev. Improvement and Rev. Ref. Bonds, <br> Series 2016, 5.00% 12/1/2029  | 110 | 111 |
| County of Skagit, Public Hospital Dist. No. 1 (Skagit Regional Health), Hospital Rev. Improvement and Rev. Ref. Bonds, <br> Series 2016, 5.00% 12/1/2030  | 165 | 167 |
| County of Skagit, Public Hospital Dist. No. 1 (Skagit Regional Health), Hospital Rev. Improvement and Rev. Ref. Bonds, <br> Series 2016, 5.00% 12/1/2031  | 165 | 167 |
| County of Skagit, Public Hospital Dist. No. 1 (Skagit Regional Health), Hospital Rev. Improvement and Rev. Ref. Bonds, <br> Series 2016, 5.00% 12/1/2032  | 165 | 167 |
| Various Purpose GO Bonds, Series 2024-C, 5.00% 2/1/2038  | 1000 | 1134 |
| Various Purpose GO Bonds, Series 2026-A, 5.00% 8/1/2041  | 5000 | 5583 |
| Various Purpose GO Rev. Ref. Bonds, Series 2025-R-D, 5.00% 8/1/2039  | 500 | 572 |
|  |  | 51053 |
| **West Virginia 0.20%** | **West Virginia 0.20%** | **West Virginia 0.20%** |
| Econ. Dev. Auth., Solid Waste Disposal Facs. Rev. Bonds (Commercial Metals Co. Project), Series 2025, AMT, 4.625% <br> 4/15/2055 (put 5/15/2032)  | 2965 | 3004 |
| Econ. Dev. Auth., Solid Waste Disposal Facs. Rev. Bonds (Core Natural Resources, Inc. Project), Series 2025, AMT, <br> 5.45% 1/1/2055 (put 3/27/2035) <sup>(a)</sup>  | 975 | 1038 |
| City of Huntington, Tax Increment Rev. Bonds (Highlawn Redev. Dist. No. 3 Project), Series 2025-A, 5.625% 6/1/2052  | 1000 | 982 |
|  |  | 5024 |
| **Wisconsin 4.91%** | **Wisconsin 4.91%** | **Wisconsin 4.91%** |
| GO Rev. Ref. Bonds, Series 2023-2, 5.00% 5/1/2036  | 1000 | 1141 |
| Health and Educational Facs. Auth., Rev. Bonds (Ascension Health Senior Credit Group), Series 2016-A, 4.00% <br> 11/15/2034  | 7500 | 7514 |
| Health and Educational Facs. Auth., Rev. Bonds (Aspirus Inc. Obligated Group), Series 2025, 5.25% 8/15/2055  | 3000 | 3097 |
| Health and Educational Facs. Auth., Rev. Bonds (Benevolent Corp. Cedar Community), Series 2017, 5.00% 6/1/2026  | 145 | 145 |
| Health and Educational Facs. Auth., Rev. Bonds (Benevolent Corp. Cedar Community), Series 2017, 5.00% 6/1/2027  | 150 | 152 |
| Health and Educational Facs. Auth., Rev. Bonds (Benevolent Corp. Cedar Community), Series 2017, 5.00% 6/1/2029  | 165 | 168 |
| Health and Educational Facs. Auth., Rev. Bonds (Benevolent Corp. Cedar Community), Series 2017, 5.00% 6/1/2031  | 180 | 183 |
| Health and Educational Facs. Auth., Rev. Bonds (Benevolent Corp. Cedar Community), Series 2017, 5.00% 6/1/2037  | 140 | 141 |
| Health and Educational Facs. Auth., Rev. Bonds (Benevolent Corp.), Series 2017, 5.00% 6/1/2041  | 55 | 54 |
| Health and Educational Facs. Auth., Rev. Bonds (Capital Lakes, Inc.), Series 2025-A, 6.25% 11/15/2055  | 835 | 828 |
| Health and Educational Facs. Auth., Rev. Bonds (Capital Lakes, Inc.), Series 2025-A, 6.375% 11/15/2060  | 585 | 582 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **185** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Wisconsin (continued)** | **Wisconsin (continued)** | **Wisconsin (continued)** |
| Health and Educational Facs. Auth., Rev. Bonds (Chiara Housing and Services, Inc. Project), Series 2024, 5.00% <br> 7/1/2035  | USD<br> 305<br>| $312 |
| Health and Educational Facs. Auth., Rev. Bonds (Chiara Housing and Services, Inc. Project), Series 2024, 5.625% <br> 7/1/2045  | 2445 | 2452 |
| Health and Educational Facs. Auth., Rev. Bonds (Chiara Housing and Services, Inc. Project), Series 2024, 5.875% <br> 7/1/2055  | 1410 | 1412 |
| Health and Educational Facs. Auth., Rev. Bonds (Chiara Housing and Services, Inc. Project), Series 2024, 6.00% <br> 7/1/2060  | 1520 | 1529 |
| Health and Educational Facs. Auth., Rev. Bonds (Chiara Housing and Services, Inc. Project), Series 2025, 6.625% <br> 7/1/2060  | 210 | 219 |
| Health and Educational Facs. Auth., Rev. Bonds (Clement Manor, Inc.), Series 2019, 4.25% 8/1/2034  | 55 | 55 |
| Health and Educational Facs. Auth., Rev. Bonds (Clement Manor, Inc.), Series 2019, 5.00% 8/1/2049  | 675 | 639 |
| Health and Educational Facs. Auth., Rev. Bonds (Dickson Hollow Phase II Project), Series 2024, 5.45% 10/1/2039  | 25 | 26 |
| Health and Educational Facs. Auth., Rev. Bonds (Dickson Hollow Phase II Project), Series 2024, 6.00% 10/1/2044  | 35 | 37 |
| Health and Educational Facs. Auth., Rev. Bonds (Dickson Hollow Phase II Project), Series 2024, 6.125% 10/1/2059  | 275 | 284 |
| Health and Educational Facs. Auth., Rev. Bonds (Froedtert Health, Inc.), Series 2024-A, 5.00% 4/1/2045  | 250 | 260 |
| Health and Educational Facs. Auth., Rev. Bonds (Hope Christian Schools Obligated Group), Series 2021, 3.00% <br> 12/1/2031  | 85 | 74 |
| Health and Educational Facs. Auth., Rev. Bonds (Hope Christian Schools Obligated Group), Series 2021, 4.00% <br> 12/1/2041  | 90 | 69 |
| Health and Educational Facs. Auth., Rev. Bonds (Hope Christian Schools Obligated Group), Series 2021, 4.00% <br> 12/1/2051  | 390 | 257 |
| Health and Educational Facs. Auth., Rev. Bonds (Hope Christian Schools Obligated Group), Series 2021, 4.00% <br> 12/1/2056  | 120 | 76 |
| Health and Educational Facs. Auth., Rev. Bonds (Marshfield Clinic Health System, Inc.), Series 2016-B, 5.00% 2/15/2046  | 360 | 360 |
| Health and Educational Facs. Auth., Rev. Bonds (Marshfield Clinic Health System, Inc.), Series 2017-C, 4.00% 2/15/2050  | 80 | 72 |
| Health and Educational Facs. Auth., Rev. Bonds (Marshfield Clinic Health System, Inc.), Series 2024-A, 5.50% 2/15/2054  | 665 | 699 |
| Health and Educational Facs. Auth., Rev. Bonds (Milwaukee Regional Medical Center Thermal Service, Inc.), Series <br> 2018, 5.00% 4/1/2044  | 175 | 177 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2021-A, 3.00% 3/1/2052  | 75 | 74 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2023-A, 6.00% 3/1/2054  | 215 | 236 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2024-B, 6.00% 3/1/2055  | 210 | 228 |
| Public Fin. Auth., Air Cargo Rev. Bonds (AFCO Obligated Group), Series 2023, AMT, 5.50% 7/1/2037  | 120 | 128 |
| Public Fin. Auth., Airport Facs. Rev. Ref. Bonds (Transportation Infrastructure Properties, LLC Obligated Group), Series <br> 2012-B, AMT, 5.00% 7/1/2042  | 45 | 45 |
| Public Fin. Auth., Charter School Rev. Bonds (American Preparatory Academy - Las Vegas 2 Project), Series 2019-A, <br> 4.00% 7/15/2029 <sup>(a)</sup>  | 45 | 45 |
| Public Fin. Auth., Charter School Rev. Bonds (American Preparatory Academy - Las Vegas 2 Project), Series 2019-A, <br> 5.00% 7/15/2039 <sup>(a)</sup>  | 155 | 155 |
| Public Fin. Auth., Charter School Rev. Bonds (American Preparatory Academy - Las Vegas 2 Project), Series 2019-A, <br> 5.00% 7/15/2049 <sup>(a)</sup>  | 375 | 347 |
| Public Fin. Auth., Charter School Rev. Bonds (American Preparatory Academy - Las Vegas 2 Project), Series 2019-A, <br> 5.00% 7/15/2054 <sup>(a)</sup>  | 195 | 176 |
| Public Fin. Auth., Charter School Rev. Bonds (American Preparatory Academy - Las Vegas Project), Series 2017-A, <br> 5.125% 7/15/2037 <sup>(a)</sup>  | 490 | 493 |
| Public Fin. Auth., Charter School Rev. Bonds (American Preparatory Academy - Las Vegas Project), Series 2017-A, <br> 5.375% 7/15/2047 <sup>(a)</sup>  | 890 | 866 |
| Public Fin. Auth., Charter School Rev. Bonds (American Preparatory Academy - Las Vegas Project), Series 2017-B, <br> 5.375% 7/15/2052 <sup>(a)</sup>  | 220 | 210 |
| Public Fin. Auth., Charter School Rev. Bonds (Ascend Leadership Academy Project), Series 2021-A, 5.00% 6/15/2041 <sup>(a)</sup>  | 100 | 90 |
| Public Fin. Auth., Charter School Rev. Bonds (Ascend Leadership Academy Project), Series 2021-A, 5.00% 6/15/2051 <sup>(a)</sup>  | 235 | 194 |
| Public Fin. Auth., Charter School Rev. Bonds (Ascend Leadership Academy Project), Series 2021-A, 5.00% 6/15/2056 <sup>(a)</sup>  | 165 | 133 |
| Public Fin. Auth., Charter School Rev. Bonds (Coral Academy of Science Reno), Series 2019-A, 5.00% 6/1/2050 <sup>(a)</sup>  | 275 | 235 |
| Public Fin. Auth., Charter School Rev. Bonds (Coral Academy of Science Reno), Series 2021-A, 4.00% 6/1/2051 <sup>(a)</sup>  | 375 | 272 |
| Public Fin. Auth., Charter School Rev. Bonds (Coral Academy of Science Reno), Series 2022-A, 5.875% 6/1/2052 <sup>(a)</sup>  | 165 | 158 |
| Public Fin. Auth., Charter School Rev. Bonds (Coral Academy of Science Reno), Series 2022-A, 6.00% 6/1/2062 <sup>(a)</sup>  | 175 | 170 |
| Public Fin. Auth., Charter School Rev. Bonds (Foundation Academy Charter School Project), Series 2024, 4.75% <br> 7/1/2045 <sup>(a)</sup>  | 185 | 169 |
| Public Fin. Auth., Charter School Rev. Bonds (Foundation Academy Charter School Project), Series 2024, 5.00% <br> 7/1/2055 <sup>(a)</sup>  | 180 | 164 |
| Public Fin. Auth., Charter School Rev. Bonds (Foundation Academy Charter School Project), Series 2024, 5.00% <br> 7/1/2060 <sup>(a)</sup>  | 290 | 258 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **186** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Wisconsin (continued)** | **Wisconsin (continued)** | **Wisconsin (continued)** |
| Public Fin. Auth., Charter School Rev. Bonds (Rocketship Tennessee Obligated Group - Issue No. 1), Series 2025-A, <br> 5.75% 6/1/2045 <sup>(a)</sup>  | USD<br> 220<br>| $218 |
| Public Fin. Auth., Charter School Rev. Bonds (Rocketship Tennessee Obligated Group - Issue No. 1), Series 2025-A, <br> 6.00% 6/1/2055 <sup>(a)</sup>  | 240 | 236 |
| Public Fin. Auth., Charter School Rev. Bonds (Rocketship Tennessee Obligated Group - Issue No. 1), Series 2025-A, <br> 6.00% 6/1/2060 <sup>(a)</sup>  | 225 | 220 |
| Public Fin. Auth., Conference Center and Hotel Rev. First Tier Bonds (Lombard Public Facs. Corp. Project), Series 2025, <br> 6.00% 1/1/2045 <sup>(a)</sup>  | 1160 | 1161 |
| Public Fin. Auth., Education Rev. Bonds (Bonnie Cone Classical Academy), Series 2021-A, 4.00% 6/15/2040 <sup>(a)</sup>  | 175 | 134 |
| Public Fin. Auth., Education Rev. Bonds (Bonnie Cone Classical Academy), Series 2021-A, 4.00% 6/15/2050 <sup>(a)</sup>  | 345 | 219 |
| Public Fin. Auth., Education Rev. Bonds (Bonnie Cone Classical Academy), Series 2021-A, 4.00% 6/15/2056 <sup>(a)</sup>  | 280 | 169 |
| Public Fin. Auth., Education Rev. Bonds (Bonnie Cone Classical Academy, Inc.), Series 2024, 5.625% 6/15/2054 <sup>(a)</sup>  | 2055 | 1602 |
| Public Fin. Auth., Education Rev. Bonds (Bonnie Cone Classical Academy, Inc.), Series 2024, 5.625% 6/15/2059 <sup>(a)</sup>  | 1880 | 1438 |
| Public Fin. Auth., Education Rev. Bonds (Coral Academy of Science Las Vegas), Series 2021-A, 4.00% 7/1/2041  | 180 | 164 |
| Public Fin. Auth., Education Rev. Bonds (Mater Academy of Nevada - East Las Vegas Campus Project), Series 2024-A, <br> 5.00% 12/15/2044 <sup>(a)</sup>  | 175 | 167 |
| Public Fin. Auth., Education Rev. Bonds (North Carolina Leadership Academy), Series 2019-A, 4.00% 6/15/2029 <sup>(a)</sup>  | 60 | 60 |
| Public Fin. Auth., Education Rev. Bonds (North Carolina Leadership Academy), Series 2019-A, 5.00% 6/15/2039 <sup>(a)</sup>  | 120 | 119 |
| Public Fin. Auth., Education Rev. Bonds (North Carolina Leadership Academy), Series 2019-A, 5.00% 6/15/2049 <sup>(a)</sup>  | 125 | 115 |
| Public Fin. Auth., Education Rev. Bonds (North Carolina Leadership Academy), Series 2019-A, 5.00% 6/15/2054 <sup>(a)</sup>  | 195 | 175 |
| Public Fin. Auth., Education Rev. Bonds (Signature Preparatory), Series 2021-A, 5.00% 6/15/2041 <sup>(a)</sup>  | 455 | 431 |
| Public Fin. Auth., Education Rev. Bonds (Signature Preparatory), Series 2021-A, 5.00% 6/15/2051 <sup>(a)</sup>  | 435 | 379 |
| Public Fin. Auth., Education Rev. Bonds (Signature Preparatory), Series 2021-A, 5.00% 6/15/2056 <sup>(a)</sup>  | 495 | 421 |
| Public Fin. Auth., Education Rev. Bonds (Triad Math & Science Academy), Series 2025, 5.25% 6/15/2065  | 310 | 293 |
| Public Fin. Auth., Education Rev. Ref. Bonds (Pinecrest Academy of Nevada-Sloan Canyon Campus Project), Series <br> 2024-A, 4.25% 7/15/2044 <sup>(a)</sup>  | 65 | 58 |
| Public Fin. Auth., Education Rev. Ref. Bonds (Pinecrest Academy of Nevada-Sloan Canyon Campus Project), Series <br> 2024-A, 4.50% 7/15/2049 <sup>(a)</sup>  | 180 | 159 |
| Public Fin. Auth., Educational Fac. Rev. Ref. Bonds (New Plan Learning, Inc. Project), Series 2021-A, 3.75% 7/1/2031  | 150 | 143 |
| Public Fin. Auth., Educational Fac. Rev. Ref. Bonds (New Plan Learning, Inc. Project), Series 2021-A, 5.00% 7/1/2041  | 2135 | 1985 |
| Public Fin. Auth., Educational Facs. Rev. Bonds (Charter Day School, Inc.), Series 2020-A, 5.00% 12/1/2035 <sup>(a)</sup>  | 380 | 384 |
| Public Fin. Auth., Educational Facs. Rev. Bonds (Charter Day School, Inc.), Series 2020-A, 5.00% 12/1/2045 <sup>(a)</sup>  | 885 | 812 |
| Public Fin. Auth., Educational Facs. Rev. Bonds (Cincinnati Classical Academy), Series 2024-A, 5.375% 6/15/2039 <sup>(a)</sup>  | 5 | 5 |
| Public Fin. Auth., Educational Facs. Rev. Bonds (Cincinnati Classical Academy), Series 2024-A, 5.70% 6/15/2044 <sup>(a)</sup>  | 30 | 30 |
| Public Fin. Auth., Educational Facs. Rev. Bonds (Cincinnati Classical Academy), Series 2024-A, 5.875% 6/15/2054 <sup>(a)</sup>  | 70 | 69 |
| Public Fin. Auth., Educational Facs. Rev. Bonds (Cincinnati Classical Academy), Series 2024-A, 6.00% 6/15/2064 <sup>(a)</sup>  | 230 | 226 |
| Public Fin. Auth., Educational Facs. Rev. Bonds (Queens University of Charlotte), Series 2022-A, 4.75% 3/1/2052  | 1285 | 1148 |
| Public Fin. Auth., Educational Facs. Rev. Ref. Bonds (Queens University of Charlotte), Series 2022-A, 5.25% 3/1/2047  | 100 | 99 |
| Public Fin. Auth., Exempt Facs. Rev. Ref. Bonds (National Gypsum Co.), Series 2016, AMT, 4.00% 8/1/2035  | 1135 | 1107 |
| Public Fin. Auth., Health Care Facs. Rev. Bonds (Appalachian Regional Healthcare System Obligated Group), Series <br> 2021-A, 4.00% 7/1/2046  | 500 | 402 |
| Public Fin. Auth., Health Care Facs. Rev. Bonds (Appalachian Regional Healthcare System Obligated Group), Series <br> 2021-A, 4.00% 7/1/2051  | 1355 | 1051 |
| Public Fin. Auth., Health Care Facs. Rev. Bonds (Appalachian Regional Healthcare System Obligated Group), Series <br> 2021-A, 4.00% 7/1/2056  | 1700 | 1259 |
| Public Fin. Auth., Hospital Rev. Bonds (Carson Valley Medical Center), Series 2021-A, 4.00% 12/1/2031 <sup>(a)</sup>  | 65 | 65 |
| Public Fin. Auth., Hospital Rev. Bonds (Carson Valley Medical Center), Series 2021-A, 4.00% 12/1/2041 <sup>(a)</sup>  | 390 | 358 |
| Public Fin. Auth., Hospital Rev. Bonds (Renown Regional Medical Center Project), Series 2020-A, AGI, 3.00% 6/1/2045  | 2355 | 1789 |
| Public Fin. Auth., Hotel Rev. Bonds (Grand Hyatt San Antonio Hotel Acquisition Project), Series 2022-B, 5.625% <br> 2/1/2046 <sup>(a)</sup>  | 1985 | 2030 |
| Public Fin. Auth., Hotel Rev. Bonds (Grand Hyatt San Antonio Hotel Acquisition Project), Series 2022-B, 5.75% <br>2/1/2052 <sup>(a)</sup>  | 295 | 300 |
| Public Fin. Auth., Hotel Rev. Bonds (Grand Hyatt San Antonio Hotel Acquisition Project), Series 2022-B, 6.00% <br>2/1/2062 <sup>(a)</sup>  | 275 | 282 |
| Public Fin. Auth., Infrastructure Program Anticipation Improvement and Rev. Ref. Bonds (Astro Texas Land Projects), <br> Series 2025, 5.00% 12/15/2036 <sup>(a)</sup>  | 2975 | 2950 |
| Public Fin. Auth., Infrastructure Program Anticipation Improvement and Rev. Ref. Bonds (Legacy Hills Project), Series <br> 2025, 6.00% 11/15/2045 <sup>(a)</sup>  | 3500 | 3401 |
| Public Fin. Auth., Infrastructure Program Rev. Anticipation Bonds (Heritage Bend Project), CAB, Series 2025, 0% <br> 12/15/2042 <sup>(a)</sup>  | 1065 | 328 |
| Public Fin. Auth., Infrastructure Program Rev. Anticipation Bonds (Mayfair Project), Series 2024-A-4, 5.50% <br>11/15/2032 <sup>(a)</sup>  | 1823 | 1828 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **187** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Wisconsin (continued)** | **Wisconsin (continued)** | **Wisconsin (continued)** |
| Public Fin. Auth., Infrastructure Program Rev. Anticipation Bonds (Sterling Traditions Project), CAB, Series 2025, 0% <br> 12/15/2041 <sup>(a)</sup>  | USD<br> 10,675<br>| $3958 |
| Public Fin. Auth., Infrastructure Program Rev. Anticipation Bonds (Two Step Project), CAB, Series 2024, 0% <br>12/15/2034 <sup>(a)</sup>  | 1181 | 694 |
| Public Fin. Auth., Infrastructure Program Rev. Anticipation Bonds (Wayside Project), Series 2024-A-2, 5.875% <br> 11/15/2027 <sup>(a)</sup>  | 1157 | 1157 |
| Public Fin. Auth., Infrastructure Program Rev. Bonds (Hartland Ranch Project), Series 2023, 6.25% 11/15/2029  | 90 | 90 |
| Public Fin. Auth., Limited Obligation Rev. Bonds (Town of Scarborough - The Downs Project), Series 2024, 5.00% <br> 8/1/2039  | 200 | 204 |
| Public Fin. Auth., Project Rev. Bonds (CFP3 - Eastern Michigan University Student Housing Project), Series 2022-A-1, <br> BAM, 5.50% 7/1/2052  | 350 | 366 |
| Public Fin. Auth., Project Rev. Bonds (CFP3 - Eastern Michigan University Student Housing Project), Series 2022-A-1, <br> BAM, 5.625% 7/1/2055  | 430 | 452 |
| Public Fin. Auth., Retirement Community Rev. Bonds (Evergreens Obligated Group), Series 2019-A, 5.00% 11/15/2044  | 430 | 434 |
| Public Fin. Auth., Retirement Community Rev. Bonds (Evergreens Obligated Group), Series 2019-A, 5.00% 11/15/2049  | 170 | 170 |
| Public Fin. Auth., Retirement Community Rev. Bonds (Lifespace Communities, Inc.), Series 2020-A, 4.00% 11/15/2037  | 170 | 171 |
| Public Fin. Auth., Retirement Community Rev. Bonds (Lifespace Communities, Inc.), Series 2020-A, 5.00% 11/15/2041  | 220 | 226 |
| Public Fin. Auth., Retirement Fac. Rev. Bonds (Penick Village), Series 2019, 4.00% 9/1/2029 <sup>(a)</sup>  | 615 | 615 |
| Public Fin. Auth., Retirement Fac. Rev. Bonds (Penick Village), Series 2019, 5.00% 9/1/2039 <sup>(a)</sup>  | 85 | 86 |
| Public Fin. Auth., Retirement Fac. Rev. Bonds (Penick Village), Series 2019, 5.00% 9/1/2049 <sup>(a)</sup>  | 310 | 285 |
| Public Fin. Auth., Retirement Fac. Rev. Bonds (Penick Village), Series 2019, 5.00% 9/1/2054 <sup>(a)</sup>  | 310 | 279 |
| Public Fin. Auth., Retirement Facs. First Mortgage Rev. and Rev. Ref. Bonds (The United Methodist Retirement Homes), <br> Series 2021-A, 4.00% 10/1/2034  | 100 | 102 |
| Public Fin. Auth., Retirement Facs. First Mortgage Rev. and Rev. Ref. Bonds (The United Methodist Retirement Homes), <br> Series 2021-A, 4.00% 10/1/2041  | 110 | 106 |
| Public Fin. Auth., Retirement Facs. First Mortgage Rev. and Rev. Ref. Bonds (The United Methodist Retirement Homes), <br> Series 2021-A, 4.00% 10/1/2046  | 120 | 106 |
| Public Fin. Auth., Retirement Facs. First Mortgage Rev. and Rev. Ref. Bonds (The United Methodist Retirement Homes), <br> Series 2021-A, 4.00% 10/1/2051  | 755 | 637 |
| Public Fin. Auth., Retirement Facs. Rev. Bonds (Friends Homes), Series 2019, 4.00% 9/1/2029 <sup>(a)</sup>  | 195 | 197 |
| Public Fin. Auth., Retirement Facs. Rev. Bonds (Friends Homes), Series 2019, 5.00% 9/1/2039 <sup>(a)</sup>  | 250 | 255 |
| Public Fin. Auth., Retirement Facs. Rev. Bonds (Friends Homes), Series 2019, 5.00% 9/1/2049 <sup>(a)</sup>  | 695 | 662 |
| Public Fin. Auth., Retirement Facs. Rev. Bonds (Friends Homes), Series 2019, 5.00% 9/1/2054 <sup>(a)</sup>  | 405 | 380 |
| Public Fin. Auth., Retirement Facs. Rev. Bonds (Givens Estates), Series 2021, 4.00% 12/1/2051  | 275 | 228 |
| Public Fin. Auth., Retirement Facs. Rev. Bonds (Givens Estates), Series 2021, 4.00% 12/1/2056  | 1135 | 920 |
| Public Fin. Auth., Rev. Bonds (Absolute Awakenings), Series 2025, 7.25% 1/1/2061 <sup>(a)</sup>  | 275 | 291 |
| Public Fin. Auth., Rev. Bonds (Aurora Integrated Oncology Foundation), Series 2023, 9.00% 11/1/2028 <sup>(a)</sup>  | 175 | 187 |
| Public Fin. Auth., Rev. Bonds (Aurora Integrated Oncology Foundation), Series 2023, 10.00% 11/1/2038 <sup>(a)</sup>  | 2410 | 2711 |
| Public Fin. Auth., Rev. Bonds (Bayhealth Medical Center Project), Series 2021-A, 3.00% 7/1/2050  | 550 | 402 |
| Public Fin. Auth., Rev. Bonds (Bayhealth Medical Center Project), Series 2021-A, BAM, 3.00% 7/1/2050  | 410 | 307 |
| Public Fin. Auth., Rev. Bonds (Inperium Project), Series 2024, 5.50% 12/1/2044 <sup>(a)</sup>  | 505 | 511 |
| Public Fin. Auth., Rev. Bonds (Inperium Project), Series 2024, 5.75% 12/1/2054 <sup>(a)</sup>  | 665 | 668 |
| Public Fin. Auth., Rev. Bonds (Kahala Nui Project), Series 2025, 5.25% 11/15/2061  | 1385 | 1392 |
| Public Fin. Auth., Rev. Bonds (Ocean Academy Charter School), Series 2021, 4.00% 10/15/2031 <sup>(a)</sup>  | 35 | 34 |
| Public Fin. Auth., Rev. Bonds (Ocean Academy Charter School), Series 2021, 5.00% 10/15/2041 <sup>(a)</sup>  | 70 | 66 |
| Public Fin. Auth., Rev. Bonds (Ocean Academy Charter School), Series 2021, 5.00% 10/15/2056 <sup>(a)</sup>  | 200 | 170 |
| Public Fin. Auth., Rev. Bonds (Puerto Rico Toll Roads Monetization Project), Series 2024, AMT, 5.75% 7/1/2049  | 850 | 890 |
| Public Fin. Auth., Rev. Bonds (Puerto Rico Toll Roads Monetization Project), Series 2024, AMT, 5.75% 7/1/2054  | 2605 | 2709 |
| Public Fin. Auth., Rev. Bonds (Roseman University of Health Sciences Project), Series 2020, 5.00% 4/1/2040 <sup>(a)</sup>  | 670 | 674 |
| Public Fin. Auth., Rev. Bonds (The Obligated Group of National Senior Communities, Inc.), Series 2022, 4.00% <br> 1/1/2052  | 115 | 100 |
| Public Fin. Auth., Rev. Bonds (WFCS Portfolio Projects), Series 2020-A-1, 5.00% 1/1/2055 <sup>(a)</sup>  | 1395 | 1183 |
| Public Fin. Auth., Rev. Bonds (Wilson Preparatory Academy), Series 2019-A, 4.125% 6/15/2029 <sup>(a)</sup>  | 185 | 182 |
| Public Fin. Auth., Rev. Bonds (Wilson Preparatory Academy), Series 2019-A, 5.00% 6/15/2039 <sup>(a)</sup>  | 90 | 88 |
| Public Fin. Auth., Rev. Bonds (Wilson Preparatory Academy), Series 2019-A, 5.00% 6/15/2049 <sup>(a)</sup>  | 345 | 305 |
| Public Fin. Auth., Rev. Green Bonds (Fargo-Moorhead Metropolitan Area Flood Risk Management Project), Series <br> 2021, AMT, 4.00% 9/30/2051  | 1300 | 1077 |
| Public Fin. Auth., Rev. Green Bonds (Fargo-Moorhead Metropolitan Area Flood Risk Management Project), Series <br> 2021, AMT, 4.00% 3/31/2056  | 1480 | 1198 |
| Public Fin. Auth., Rev. Ref. Bonds (Celanese Corp.), Series 2016-C, AMT, 4.30% 11/1/2030  | 1750 | 1750 |
| Public Fin. Auth., Rev. Ref. Bonds (Roseman University of Health Sciences Project), Series 2022, 4.00% 4/1/2042 <sup>(a)</sup>  | 840 | 747 |
| Public Fin. Auth., Senior Living Rev. and Rev. Ref. Bonds (Fellowship Senior Living Project), Series 2019-A, 5.00% <br> 1/1/2046  | 1260 | 1227 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **188** |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Wisconsin (continued)** | **Wisconsin (continued)** | **Wisconsin (continued)** |
| Public Fin. Auth., Senior Living Rev. Bonds (Mary's Woods at Marylhurst Project), Series 2017-A, 5.25% 5/15/2052 <sup>(a)</sup>  | USD<br> 195<br>| $184 |
| Public Fin. Auth., Senior Living Rev. Ref. Bonds (Fellowship Senior Living Project), Series 2019-A, 5.00% 1/1/2035  | 3465 | 3581 |
| Public Fin. Auth., Senior Living Rev. Ref. Bonds (Fellowship Senior Living Project), Series 2019-A, 4.00% 1/1/2046  | 200 | 164 |
| Public Fin. Auth., Senior Living Rev. Ref. Bonds (Fellowship Senior Living Project), Series 2019-A, 4.00% 1/1/2052  | 225 | 174 |
| Public Fin. Auth., Social Rev. Bonds (The Carmelite System, Inc. Obligated Group), Series 2020, 5.00% 1/1/2040  | 250 | 255 |
| Public Fin. Auth., Social Rev. Bonds (The Carmelite System, Inc. Obligated Group), Series 2020, 5.00% 1/1/2045  | 390 | 390 |
| Public Fin. Auth., Special Fac. Rev. Bonds (General Aviation Facs. Project), Series 2024-B, AMT, 7.00% 9/1/2054 <sup>(a)</sup>  | 2225 | 2364 |
| Public Fin. Auth., Special Fac. Rev. Bonds (Million Air Three LLC General Aviation Facs. Project), Series 2024-A, AMT, <br> 5.75% 9/1/2035 <sup>(a)</sup>  | 115 | 121 |
| Public Fin. Auth., Special Fac. Rev. Bonds (Million Air Three LLC General Aviation Facs. Project), Series 2024-A, AMT, <br> 6.25% 9/1/2046 <sup>(a)</sup>  | 305 | 315 |
| Public Fin. Auth., Special Facs. Rev. Bonds (Sky Harbour Capital, LLC Aviation Facs. Project), Series 2021, AMT, 4.25% <br> 7/1/2054  | 500 | 412 |
| Public Fin. Auth., Special Rev. Bonds (Candela Project), Series 2023, 6.125% 12/15/2029 <sup>(a)</sup>  | 323 | 327 |
| Public Fin. Auth., Special Rev. Bonds (Signorelli Projects, Municipal Utility Dists., Montgomery and Waller Counties), <br> Series 2024, 5.375% 12/15/2032 <sup>(a)</sup>  | 1346 | 1346 |
| Public Fin. Auth., Student Housing Rev. Bonds (CHF-Cullowhee, LLC - Western Carolina University Project), Series <br> 2015-A, 5.00% 7/1/2030  | 370 | 370 |
| Public Fin. Auth., Student Housing Rev. Bonds (CHF-Cullowhee, LLC - Western Carolina University Project), Series 2015, <br> 5.00% 7/1/2035  | 110 | 110 |
| Public Fin. Auth., Student Housing Rev. Bonds (CHF-Cullowhee, LLC - Western Carolina University Project), Series 2015, <br> 5.25% 7/1/2047  | 215 | 211 |
| Public Fin. Auth., Student Housing Rev. Bonds (CHF-Manoa, LLC UH Residences for Graduate Students), Series 2023-A, <br> 5.75% 7/1/2053 <sup>(a)</sup>  | 480 | 482 |
| Public Fin. Auth., Student Housing Rev. Bonds (CHF-Manoa, LLC UH Residences for Graduate Students), Series 2023-A, <br> 5.75% 7/1/2063 <sup>(a)</sup>  | 1205 | 1200 |
| Public Fin. Auth., Student Housing Rev. Bonds (CHF-Wilmington, LLC - University of North Carolina Project), Series <br> 2018, AGI, 5.00% 7/1/2058  | 250 | 250 |
| Public Fin. Auth., Student Housing Rev. Bonds (NC A&T Real Estate Foundation, LLC Project), Series 2019-A, 5.00% <br> 6/1/2034  | 285 | 295 |
| Public Fin. Auth., Student Housing Rev. Bonds (NC A&T Real Estate Foundation, LLC Project), Series 2019-A, 5.00% <br> 6/1/2039  | 225 | 229 |
| Public Fin. Auth., Student Housing Rev. Bonds (NC A&T Real Estate Foundation, LLC Project), Series 2019-B, 5.00% <br> 6/1/2039  | 275 | 280 |
| Public Fin. Auth., Student Housing Rev. Bonds (NC A&T Real Estate Foundation, LLC Project), Series 2019-A, 5.00% <br> 6/1/2044  | 150 | 149 |
| Public Fin. Auth., Student Housing Rev. Bonds (NC A&T Real Estate Foundation, LLC Project), Series 2019-A, 5.00% <br> 6/1/2049  | 360 | 349 |
| Public Fin. Auth., Student Housing Rev. Green Bonds (University of Hawaii Foundation Project), Series 2021-A-1, 4.00% <br> 7/1/2061 <sup>(a)</sup>  | 625 | 439 |
| Public Fin. Auth., Toll Rev. Bonds (Georgia SR 400 Express Lane Project), Series 2025, AMT, 5.75% 6/30/2060  | 1560 | 1611 |
| Public Fin. Auth., Toll Rev. Bonds (Georgia SR 400 Express Lane Project), Series 2025, AMT, 6.50% 6/30/2060  | 2215 | 2434 |
| Public Fin. Auth., Toll Rev. Bonds (Georgia SR 400 Express Lane Project), Series 2025, AMT, 5.75% 12/31/2065  | 5245 | 5405 |
| Public Fin. Auth., Toll Rev. Bonds (Georgia SR 400 Express Lane Project), Series 2025, AMT, 6.50% 12/31/2065  | 2030 | 2223 |
| Public Fin. Auth., Pooled Charter School Certs., Series 2023-1-B, 0.001% 7/1/2062 <sup>(a)(b)</sup>  | 5035 | 4034 |
| Public Fin. Auth., Pooled Charter School Certs., Series 2023-1, 5.75% 7/1/2062  | 2644 | 2767 |
|  |  | 121969 |
| **Wyoming 0.00%** | **Wyoming 0.00%** | **Wyoming 0.00%** |
| Community Dev. Auth., Housing Rev. Bonds, Series 2024-1, 6.00% 12/1/2054  | 55 | 60 |
| **Total bonds, notes & other debt instruments** (cost: $2,317,643,000) |  | 2384502 |
| Rights & warrants 0.00% | Shares |  |
| **Industrials 0.00%** | **Industrials 0.00%** | **Industrials 0.00%** |
| BL Train Holdings West, LLC, warrants, expire 11/26/2035 | 51870 | — <br><sup>(h)</sup><br>|
| **Total rights & warrants** (cost: $0) |  | — <br><sup>(h)</sup><br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **189** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Municipal High-Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Short-term securities 2.83% | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Municipals 2.83%** | **Municipals 2.83%** | **Municipals 2.83%** |
| State of Arizona, City of Phoenix, Industrial Dev. Auth., Health Care Facs. Rev. Bonds (Mayo Clinic), Series 2014-A, <br> 1.85% 11/15/2052 <sup>(b)</sup>  | USD<br> 1,500<br>| $1500 |
| State of Arizona, Industrial Dev. Auth., Hospital Rev. Ref. Bonds (Phoenix Children's Hospital), Series 2019-A, 2.45% <br> 2/1/2048 <sup>(b)</sup>  | 5600 | 5600 |
| State of Arizona, City of Phoenix, Industrial Dev. Auth., Solid Waste Disposal Rev. Ref. Bonds (Republic Services, Inc. <br> Project), Series 2013, AMT, 3.45% 12/1/2035 (put 2/2/2026) <sup>(i)</sup>  | 550 | 550 |
| State of Florida, City of Gainesville, Utilities System Rev. Bonds, Series 2019-C, 2.58% 10/1/2047 <sup>(b)</sup>  | 345 | 345 |
| State of Hawaii, Dept. of Budget and Fin., Special Purpose Rev. Bonds (The Queen's Health Systems), Series 2025-B, <br> 2.30% 7/1/2060 <sup>(b)</sup>  | 2000 | 2000 |
| State of Illinois, Fin. Auth., Demand Rev. Bonds (University of Chicago Medical Center), Series 2011-A, 2.50% <br>8/1/2044 <sup>(b)</sup>  | 1600 | 1600 |
| State of Maryland, County of Montgomery, GO Consolidated Public Improvement Bonds, Series 2017-E, 2.45% <br> 11/1/2037 <sup>(b)</sup>  | 17170 | 17170 |
| State of Michigan, Regents of the University of Michigan, General Rev. Bonds, Series 2012-B, 2.25% 4/1/2042 <sup>(b)</sup>  | 3800 | 3800 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron USA, Inc. Project), <br> Series 2010-J, 2.50% 11/1/2035 <sup>(b)</sup>  | 1245 | 1245 |
| State of Missouri, Health and Educational Facs. Auth., Demand Educational Facs. Rev. Bonds (Washington University), <br> Series 2000-B, 2.40% 3/1/2040 <sup>(b)</sup>  | 3600 | 3600 |
| State of New York, New York City GO Bonds, Fiscal 2013, Series 2013-F-3, 2.50% 3/1/2042 <sup>(b)</sup>  | 3300 | 3300 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. <br> Bonds, Series 2011-FF-1, 2.50% 6/15/2044 <sup>(b)</sup>  | 2600 | 2600 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. <br> Bonds, Series 2015-BB-1, 2.50% 6/15/2049 <sup>(b)</sup>  | 3900 | 3900 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. <br> Bonds, Series 2016-AA-1, 2.50% 6/15/2048 <sup>(b)</sup>  | 2500 | 2500 |
| State of South Carolina, Jobs-Econ. Dev. Auth., Hospital Rev. Bonds (Prisma Health Obligated Group), Series 2018-B, <br> 2.45% 5/1/2048 <sup>(b)</sup>  | 11000 | 11000 |
| State of Tennessee, City of Clarksville, Public Building Auth., Pooled Fncg. Rev. Bonds, Series 2003, Bank of America <br> LOC, 2.58% 1/1/2033 <sup>(b)</sup>  | 590 | 590 |
| State of Texas, Capital Area Housing Fin. Corp., Multi Family Housing Rev. Bonds (Redwood Apartments), Series 2020, <br> 3.20% 1/1/2041 (put 1/1/2027) <sup>(i)</sup>  | 175 | 175 |
| State of Texas, Gulf Coast Industrial Dev. Auth., Rev. Bonds (ExxonMobil Project), Series 2012, 2.55% 11/1/2041 <sup>(b)</sup>  | 3400 | 3400 |
| State of Wyoming, County of Lincoln, Pollution Control Rev. Ref. Bonds (ExxonMobil Project), Series 2014, 2.52% <br> 10/1/2044 <sup>(b)</sup>  | 5400 | 5400 |
|  |  | 70275 |
| **Total short-term securities** (cost: $70,275,000) |  | 70275 |
| **Total investment securities 98.87%** (cost: $2,387,918,000) |  | 2454777 |
| Other assets less liabilities 1.13% |  | 28099 |
| **Net assets 100.00%** |  | $2482876 |

---

**Restricted security** <sup>(g)</sup>

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| County of Monroe, Lease Rental Rev. Bonds (Centurion Foundation Lehigh <br> Valley), Series 2024-A, 5.10% 6/15/2039 <br>| 8/18/2025 | $2148 | $2279 | 0.10<br> %<br>|
| County of Monroe, Lease Rental Rev. Bonds (Centurion Foundation Lehigh <br> Valley), Series 2024-B, 8.00% 6/15/2039 <br>| 8/18/2025 | 1431 | 1465 | 0.06 |
|  |  | $3579 | $3744 | 0.16<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **190** |

---

------

Capital Group Municipal High-Income ETF (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) 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 $542,057,000, which represented 21.83% of the net assets of the fund. 

<sup>(b)</sup> 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. 

<sup>(c)</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>(d)</sup> Step bond; coupon rate may change at a later date.

<sup>(e)</sup> Scheduled interest payment was not received. Coupon payments are paid at the election of the issuer and any unpaid amounts are accumulated.

<sup>(f)</sup> Scheduled interest and/or principal payment was not received.

<sup>(g)</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933.

<sup>(h)</sup> Amount less than one thousand.

<sup>(i)</sup> For short-term securities, the mandatory put date is considered to be the maturity date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| Agcy. = Agency |
| AGI = Assured Guaranty insured |
| AMBAC = American Municipal Bond Assurance Company insured |
| AMT = Alternative Minimum Tax |
| Assn. = Association |
| Auth. = Authority |
| BAM = Build America Mutual insured |
| CAB = Capital Appreciation Bonds |
| Certs. = Certificates |
| CME = CME Group |
| Dept. = Department |
| Dev. = Development |
| Dist. = District |
| Dists. = Districts |
| Econ. = Economic |

---

---

| |
|:---|
| Fac. = Facility |
| Facs. = Facilities |
| FHA = Federal Housing Administration insured |
| Fin. = Finance |
| Fncg. = Financing |
| GO = General Obligation |
| NATL = National Public Finance Guarantee Corp. insured |
| Part. = Participation |
| preref. = Prerefunded |
| Redev. = Redevelopment |
| Ref. = Refunding |
| Rev. = Revenue |
| SIFMA = Securities Industry and Financial Markets Association |
| SOFR = Secured Overnight Financing Rate |
| USD = U.S. dollars |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **191** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Short Duration Income ETF

**Investment portfolio** December 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments 97.16% | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes 39.05%** | **Corporate bonds and notes 39.05%** | **Corporate bonds and notes 39.05%** |
| **Financials 16.95%** |  |  |
| American Express Co. 4.90% 2/13/2026  | USD<br> 279<br>| $279 |
| American Express Co. 5.043% 7/26/2028 (USD-SOFR + 0.93% on 7/26/2027) <sup>(a)</sup>  | 1815 | 1846 |
| American Express Co. 5.532% 4/25/2030 (USD-SOFR + 1.09% on 4/25/2029) <sup>(a)</sup>  | 335 | 350 |
| American Express Co. 5.085% 1/30/2031 (USD-SOFR + 1.02% on 1/30/2030) <sup>(a)</sup>  | 800 | 825 |
| American Express Co. 5.016% 4/25/2031 (USD-SOFR + 1.44% on 4/25/2030) <sup>(a)</sup>  | 1200 | 1237 |
| American International Group, Inc. 4.85% 5/7/2030  | 2200 | 2256 |
| Aon North America, Inc. 5.125% 3/1/2027  | 5285 | 5352 |
| Aon North America, Inc. 5.15% 3/1/2029  | 1660 | 1708 |
| Arthur J. Gallagher & Co. 4.60% 12/15/2027  | 5790 | 5855 |
| Arthur J. Gallagher & Co. 4.85% 12/15/2029  | 1900 | 1946 |
| Bank of America Corp. 5.08% 1/20/2027 (USD-SOFR + 1.29% on 1/20/2026) <sup>(a)</sup>  | 200 | 200 |
| Bank of America Corp. 4.948% 7/22/2028 (USD-SOFR + 2.04% on 7/22/2027) <sup>(a)</sup>  | 9584 | 9724 |
| Bank of America Corp. 4.979% 1/24/2029 (USD-SOFR + 0.83% on 1/24/2028) <sup>(a)</sup>  | 3350 | 3413 |
| Bank of America Corp. 5.202% 4/25/2029 (USD-SOFR + 1.63% on 4/25/2028) <sup>(a)</sup>  | 3272 | 3356 |
| Bank of America Corp. 2.884% 10/22/2030 (3-month USD CME Term SOFR + 1.19% on 10/22/2029) <sup>(a)</sup>  | 222 | 211 |
| Bank of America Corp. 5.162% 1/24/2031 (USD-SOFR + 1.00% on 1/24/2030) <sup>(a)</sup>  | 3385 | 3495 |
| Bank of America Corp. 3.824% 1/20/2028 (3-month USD CME Term SOFR + 1.837% on 1/20/2027) <sup>(a)</sup>  | 150 | 150 |
| Bank of Montreal 5.004% 1/27/2029 (USD-SOFR Index + 0.67% on 1/27/2028) <sup>(a)</sup>  | 3600 | 3670 |
| Bank of New York Mellon Corp. 4.975% 3/14/2030 (USD-SOFR + 1.085% on 3/14/2029) <sup>(a)</sup>  | 178 | 183 |
| Bank of New York Mellon Corp. 4.942% 2/11/2031 (USD-SOFR + 0.887% on 2/11/2030) <sup>(a)</sup>  | 1500 | 1543 |
| Bank of Nova Scotia (The) 4.043% 9/15/2028 (USD-SOFR + 0.76% on 9/15/2027) <sup>(a)</sup>  | 2600 | 2601 |
| BNP Paribas SA 5.497% 5/20/2030 (USD-SOFR + 1.59% on 5/20/2029) <sup>(a)(b)</sup>  | 300 | 311 |
| BPCE SA 6.612% 10/19/2027 (USD-SOFR + 1.98% on 10/19/2026) <sup>(a)(b)</sup>  | 7059 | 7194 |
| BPCE SA 5.876% 1/14/2031 (USD-SOFR + 1.68% on 1/14/2030) <sup>(a)(b)</sup>  | 1604 | 1677 |
| BPCE SA 5.389% 5/28/2031 (USD-SOFR + 1.581% on 5/28/2030) <sup>(a)(b)</sup>  | 1038 | 1066 |
| Brown & Brown, Inc. 4.60% 12/23/2026  | 3125 | 3142 |
| Brown & Brown, Inc. 4.70% 6/23/2028  | 7600 | 7694 |
| Brown & Brown, Inc. 4.90% 6/23/2030  | 2390 | 2425 |
| CaixaBank SA 6.684% 9/13/2027 (USD-SOFR + 2.08% on 9/13/2026) <sup>(a)(b)</sup>  | 5564 | 5662 |
| CaixaBank SA 6.208% 1/18/2029 (USD-SOFR + 2.70% on 1/18/2028) <sup>(a)(b)</sup>  | 125 | 130 |
| CaixaBank SA 4.634% 7/3/2029 (USD-SOFR + 1.14% on 7/3/2028) <sup>(a)(b)</sup>  | 2950 | 2983 |
| CaixaBank SA 5.673% 3/15/2030 (USD-SOFR + 1.78% on 3/15/2029) <sup>(a)(b)</sup>  | 290 | 301 |
| CaixaBank SA 4.885% 7/3/2031 (USD-SOFR + 1.36% on 7/3/2030) <sup>(a)(b)</sup>  | 1799 | 1826 |
| Canadian Imperial Bank of Commerce 4.508% 9/11/2027 (USD-SOFR + 0.93% on 9/11/2026) <sup>(a)</sup>  | 5945 | 5965 |
| Canadian Imperial Bank of Commerce 4.857% 3/30/2029 (USD-SOFR + 1.03% on 3/31/2028) <sup>(a)</sup>  | 3475 | 3533 |
| Canadian Imperial Bank of Commerce 5.245% 1/13/2031 (USD-SOFR + 1.105% on 1/13/2030) <sup>(a)</sup>  | 1225 | 1264 |
| Capital One Financial Corp. 5.70% 2/1/2030 (USD-SOFR + 1.905% on 2/1/2029) <sup>(a)</sup>  | 213 | 222 |
| Charles Schwab Corp. (The) 5.875% 8/24/2026  | 400 | 405 |
| Charles Schwab Corp. (The) 5.643% 5/19/2029 (USD-SOFR + 2.21% on 5/19/2028) <sup>(a)</sup>  | 115 | 119 |
| Citibank, NA 5.438% 4/30/2026  | 3500 | 3514 |
| Citibank, NA 4.929% 8/6/2026  | 1510 | 1518 |
| Citibank, NA 4.576% 5/29/2027  | 4400 | 4446 |
| Citibank, NA 4.838% 8/6/2029  | 780 | 798 |
| Citibank, NA 4.914% 5/29/2030  | 903 | 929 |
| Citigroup, Inc. 1.122% 1/28/2027 (USD-SOFR + 0.765% on 1/28/2026) <sup>(a)</sup>  | 500 | 499 |
| Citigroup, Inc. 3.887% 1/10/2028 (3-month USD CME Term SOFR + 1.825% on 1/10/2027) <sup>(a)</sup>  | 200 | 200 |
| Citigroup, Inc. 4.786% 3/4/2029 (USD-SOFR + 0.87% on 3/4/2028) <sup>(a)</sup>  | 7700 | 7811 |
| Citigroup, Inc. 5.174% 2/13/2030 (USD-SOFR + 1.364% on 2/13/2029) <sup>(a)</sup>  | 550 | 565 |
| Citigroup, Inc. 4.952% 5/7/2031 (USD-SOFR + 1.463% on 5/7/2030) <sup>(a)</sup>  | 3738 | 3819 |
| Citigroup, Inc. 4.503% 9/11/2031 (USD-SOFR + 1.171% on 9/11/2030) <sup>(a)</sup>  | 2050 | 2057 |
| Citizens Financial Group, Inc. 5.841% 1/23/2030 (USD-SOFR + 2.01% on 1/23/2029) <sup>(a)</sup>  | 379 | 395 |
| Deutsche Bank AG 2.552% 1/7/2028 (USD-SOFR + 1.318% on 1/7/2027) <sup>(a)</sup>  | 8035 | 7904 |
| Deutsche Bank AG 5.706% 2/8/2028 (USD-SOFR + 1.594% on 2/8/2027) <sup>(a)</sup>  | 150 | 152 |
| Deutsche Bank AG 4.999% 9/11/2030 (USD-SOFR + 1.70% on 9/11/2029) <sup>(a)</sup>  | 475 | 482 |
| Deutsche Bank AG 5.297% 5/9/2031 (USD-SOFR + 1.72% on 5/9/2030) <sup>(a)</sup>  | 1350 | 1384 |
| Deutsche Bank AG 3.547% 9/18/2031 (USD-SOFR + 3.043% on 9/18/2030) <sup>(a)</sup>  | 225 | 215 |
| Fifth Third Bancorp 4.895% 9/6/2030 (USD-SOFR + 1.486% on 9/6/2029) <sup>(a)</sup>  | 184 | 187 |
| Fifth Third Bank, National Association 4.967% 1/28/2028 (USD-SOFR + 0.81% on 1/28/2027) <sup>(a)</sup>  | 6632 | 6696 |
| Goldman Sachs Group, Inc. 1.542% 9/10/2027 (USD-SOFR + 0.818% on 9/10/2026) <sup>(a)</sup>  | 290 | 285 |
| Goldman Sachs Group, Inc. 2.64% 2/24/2028 (USD-SOFR + 1.114% on 2/24/2027) <sup>(a)</sup>  | 595 | 586 |
| Goldman Sachs Group, Inc. 5.727% 4/25/2030 (USD-SOFR + 1.265% on 4/25/2029) <sup>(a)</sup>  | 4569 | 4774 |
| Goldman Sachs Group, Inc. 4.692% 10/23/2030 (USD-SOFR + 1.135% on 10/23/2029) <sup>(a)</sup>  | 3094 | 3137 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **192** |

---

------

Capital Group Short Duration Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Financials (continued)** |  |  |
| Goldman Sachs Group, Inc. 5.218% 4/23/2031 (USD-SOFR + 1.58% on 4/23/2030) <sup>(a)</sup>  | USD<br> 2,400<br>| $2479 |
| Goldman Sachs Group, Inc. 4.369% 10/21/2031 (USD-SOFR + 1.06% on 10/21/2030) <sup>(a)</sup>  | 2119 | 2114 |
| HSBC Holdings PLC 5.597% 5/17/2028 (USD-SOFR + 1.06% on 5/17/2027) <sup>(a)</sup>  | 750 | 764 |
| HSBC Holdings PLC 5.13% 3/3/2031 (USD-SOFR + 1.29% on 3/3/2030) <sup>(a)</sup>  | 1400 | 1435 |
| HSBC Holdings PLC 4.619% 11/6/2031 (USD-SOFR + 1.19% on 11/6/2030) <sup>(a)</sup>  | 2435 | 2443 |
| JPMorgan Chase & Co. 1.04% 2/4/2027 (USD-SOFR + 0.695% on 2/4/2026) <sup>(a)</sup>  | 197 | 196 |
| JPMorgan Chase & Co. 5.04% 1/23/2028 (USD-SOFR + 1.19% on 1/23/2027) <sup>(a)</sup>  | 11263 | 11383 |
| JPMorgan Chase & Co. 5.571% 4/22/2028 (USD-SOFR + 0.93% on 4/22/2027) <sup>(a)</sup>  | 2705 | 2760 |
| JPMorgan Chase & Co. 4.323% 4/26/2028 (USD-SOFR + 1.56% on 4/26/2027) <sup>(a)</sup>  | 216 | 217 |
| JPMorgan Chase & Co. 5.299% 7/24/2029 (USD-SOFR + 1.45% on 7/24/2028) <sup>(a)</sup>  | 2850 | 2938 |
| JPMorgan Chase & Co. 5.581% 4/22/2030 (USD-SOFR + 1.16% on 4/22/2029) <sup>(a)</sup>  | 1145 | 1195 |
| JPMorgan Chase & Co. 4.995% 7/22/2030 (USD-SOFR + 1.125% on 7/22/2029) <sup>(a)</sup>  | 2393 | 2457 |
| JPMorgan Chase & Co. 4.603% 10/22/2030 (USD-SOFR + 1.04% on 10/22/2029) <sup>(a)</sup>  | 5180 | 5254 |
| JPMorgan Chase & Co. 5.103% 4/22/2031 (USD-SOFR + 1.435% on 4/22/2030) <sup>(a)</sup>  | 2889 | 2984 |
| Lloyds Banking Group PLC 5.985% 8/7/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.48% <br> on 8/7/2026) <sup>(a)</sup>  | 4565 | 4617 |
| Lloyds Banking Group PLC 5.462% 1/5/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.375% <br> on 1/5/2027) <sup>(a)</sup>  | 3735 | 3786 |
| Marsh & McLennan Cos., Inc. 4.55% 11/8/2027  | 2650 | 2683 |
| Marsh & McLennan Cos., Inc. 4.65% 3/15/2030  | 1355 | 1384 |
| Metropolitan Life Global Funding I 3.45% 12/18/2026 <sup>(b)</sup>  | 3985 | 3972 |
| Morgan Stanley 5.05% 1/28/2027 (USD-SOFR + 1.295% on 1/28/2026) <sup>(a)</sup>  | 270 | 270 |
| Morgan Stanley 5.652% 4/13/2028 (USD-SOFR + 1.01% on 4/13/2027) <sup>(a)</sup>  | 8331 | 8497 |
| Morgan Stanley 4.21% 4/20/2028 (USD-SOFR + 1.61% on 4/20/2027) <sup>(a)</sup>  | 125 | 125 |
| Morgan Stanley 6.296% 10/18/2028 (USD-SOFR + 2.44% on 10/18/2027) <sup>(a)</sup>  | 108 | 112 |
| Morgan Stanley 5.449% 7/20/2029 (USD-SOFR + 1.63% on 7/20/2028) <sup>(a)</sup>  | 4020 | 4149 |
| Morgan Stanley 4.133% 10/18/2029 (USD-SOFR + 0.913% on 10/18/2028) <sup>(a)</sup>  | 4950 | 4949 |
| Morgan Stanley 5.173% 1/16/2030 (USD-SOFR + 1.45% on 1/16/2029) <sup>(a)</sup>  | 575 | 591 |
| Morgan Stanley 5.656% 4/18/2030 (USD-SOFR + 1.26% on 4/18/2029) <sup>(a)</sup>  | 2157 | 2248 |
| Morgan Stanley 5.042% 7/19/2030 (USD-SOFR + 1.215% on 7/19/2029) <sup>(a)</sup>  | 2460 | 2523 |
| Morgan Stanley 5.23% 1/15/2031 (USD-SOFR + 1.108% on 1/15/2030) <sup>(a)</sup>  | 1738 | 1793 |
| Morgan Stanley 5.192% 4/17/2031 (USD-SOFR + 1.51% on 4/17/2030) <sup>(a)</sup>  | 2350 | 2424 |
| National Australia Bank, Ltd. 5.087% 6/11/2027  | 2300 | 2345 |
| National Australia Bank, Ltd. 4.50% 10/26/2027  | 1050 | 1065 |
| NatWest Group PLC 1.642% 6/14/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.90% on <br> 6/14/2026) <sup>(a)</sup>  | 225 | 223 |
| NatWest Group PLC 5.583% 3/1/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.10% on <br> 3/1/2027) <sup>(a)</sup>  | 5590 | 5691 |
| Navient Corp. 6.75% 6/15/2026  | 3000 | 3042 |
| New York Life Global Funding 4.60% 12/5/2029 <sup>(b)</sup>  | 964 | 980 |
| PNC Bank, NA 4.543% 5/13/2027 (USD-SOFR + 0.63% on 5/13/2026) <sup>(a)</sup>  | 1720 | 1723 |
| PNC Financial Services Group, Inc. 4.758% 1/26/2027 (USD-SOFR + 1.085% on 1/26/2026) <sup>(a)</sup>  | 5110 | 5112 |
| PNC Financial Services Group, Inc. 6.615% 10/20/2027 (USD-SOFR + 1.73% on 10/20/2026) <sup>(a)</sup>  | 6355 | 6483 |
| PNC Financial Services Group, Inc. 5.582% 6/12/2029 (USD-SOFR + 1.841% on 6/12/2028) <sup>(a)</sup>  | 108 | 112 |
| PNC Financial Services Group, Inc. 5.222% 1/29/2031 (USD-SOFR + 1.072% on 1/29/2030) <sup>(a)</sup>  | 394 | 408 |
| Royal Bank of Canada 4.875% 1/12/2026  | 1580 | 1580 |
| Royal Bank of Canada 4.65% 10/18/2030 (USD-SOFR + 1.08% on 10/18/2029) <sup>(a)</sup>  | 1700 | 1725 |
| Royal Bank of Canada 5.153% 2/4/2031 (USD-SOFR + 1.03% on 2/4/2030) <sup>(a)</sup>  | 1510 | 1555 |
| Royal Bank of Canada 4.97% 5/2/2031 (USD-SOFR Index + 1.13% on 5/2/2030) <sup>(a)</sup>  | 1350 | 1381 |
| State Street Corp. 4.834% 4/24/2030  | 1150 | 1185 |
| Sumitomo Mitsui Financial Group, Inc. 5.80% 7/13/2028  | 1664 | 1734 |
| Toronto-Dominion Bank (The) 4.568% 12/17/2026  | 4520 | 4549 |
| Toronto-Dominion Bank (The) 4.861% 1/31/2028  | 2150 | 2186 |
| Toronto-Dominion Bank (The) 5.523% 7/17/2028  | 180 | 187 |
| Toronto-Dominion Bank (The) 4.783% 12/17/2029  | 458 | 469 |
| Truist Bank 4.671% 5/20/2027 (USD-SOFR + 0.59% on 5/20/2026) <sup>(a)</sup>  | 450 | 451 |
| Truist Financial Corp. 6.047% 6/8/2027 (USD-SOFR + 2.05% on 6/8/2026) <sup>(a)</sup>  | 7776 | 7840 |
| Truist Financial Corp. 5.435% 1/24/2030 (USD-SOFR + 1.62% on 1/24/2029) <sup>(a)</sup>  | 149 | 154 |
| Truist Financial Corp. 5.071% 5/20/2031 (USD-SOFR + 1.309% on 5/20/2030) <sup>(a)</sup>  | 592 | 608 |
| U.S. Bancorp 5.775% 6/12/2029 (USD-SOFR + 2.02% on 6/12/2028) <sup>(a)</sup>  | 266 | 277 |
| U.S. Bancorp 5.384% 1/23/2030 (USD-SOFR + 1.56% on 1/23/2029) <sup>(a)</sup>  | 100 | 104 |
| UBS Group AG 1.305% 2/2/2027 (USD-SOFR + 0.98% on 2/2/2026) <sup>(a)(b)</sup>  | 3950 | 3939 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **193** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Short Duration Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Financials (continued)** |  |  |
| UBS Group AG 1.494% 8/10/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.85% on <br> 8/10/2026) <sup>(a)(b)</sup>  | USD<br> 515<br>| $507 |
| UBS Group AG 5.428% 2/8/2030 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.52% on <br> 2/8/2029) <sup>(a)(b)</sup>  | 1330 | 1376 |
| Wells Fargo & Co. 5.707% 4/22/2028 (USD-SOFR + 1.07% on 4/22/2027) <sup>(a)</sup>  | 9825 | 10030 |
| Wells Fargo & Co. 4.808% 7/25/2028 (USD-SOFR + 1.98% on 7/25/2027) <sup>(a)</sup>  | 3145 | 3181 |
| Wells Fargo & Co. 5.574% 7/25/2029 (USD-SOFR + 1.74% on 7/25/2028) <sup>(a)</sup>  | 4745 | 4917 |
| Wells Fargo & Co. 5.198% 1/23/2030 (USD-SOFR + 1.50% on 1/23/2029) <sup>(a)</sup>  | 325 | 335 |
| Wells Fargo & Co. 5.15% 4/23/2031 (USD-SOFR + 1.50% on 4/23/2030) <sup>(a)</sup>  | 5460 | 5637 |
| Wells Fargo Bank, N.A. 5.45% 8/7/2026  | 1700 | 1714 |
| Willis North America, Inc. 4.65% 6/15/2027  | 1340 | 1351 |
|  |  | 317370 |
| **Utilities 4.04%** |  |  |
| CenterPoint Energy Houston Electric, LLC 5.20% 10/1/2028  | 250 | 258 |
| Consumers Energy Co. 4.70% 1/15/2030  | 564 | 577 |
| DTE Energy Co. 4.95% 7/1/2027  | 450 | 456 |
| DTE Energy Co. 5.10% 3/1/2029  | 350 | 359 |
| Duke Energy Florida, LLC 4.20% 12/1/2030  | 4000 | 4008 |
| Edison International 5.25% 11/15/2028  | 1450 | 1470 |
| Edison International 5.45% 6/15/2029  | 1731 | 1763 |
| Edison International 6.95% 11/15/2029  | 223 | 238 |
| Edison International 6.25% 3/15/2030  | 1377 | 1441 |
| Eversource Energy 5.95% 2/1/2029  | 1139 | 1191 |
| Eversource Energy 4.45% 12/15/2030  | 4300 | 4278 |
| Florida Power & Light Co. 5.15% 6/15/2029  | 1145 | 1190 |
| Georgia Power Co. 5.004% 2/23/2027  | 1647 | 1669 |
| Georgia Power Co. 4.65% 5/16/2028  | 400 | 407 |
| NextEra Energy Capital Holdings, Inc. 4.685% 9/1/2027  | 2200 | 2227 |
| NiSource, Inc. 5.20% 7/1/2029  | 475 | 490 |
| Pacific Gas and Electric Co. 3.15% 1/1/2026  | 2560 | 2560 |
| Pacific Gas and Electric Co. 2.95% 3/1/2026  | 3384 | 3376 |
| Pacific Gas and Electric Co. 5.00% 6/4/2028  | 7336 | 7469 |
| Pacific Gas and Electric Co. 4.65% 8/1/2028  | 7569 | 7627 |
| Pacific Gas and Electric Co. 5.55% 5/15/2029  | 1465 | 1514 |
| PacifiCorp 5.10% 2/15/2029  | 405 | 413 |
| Public Service Enterprise Group, Inc. 4.90% 3/15/2030  | 1282 | 1311 |
| Public Service Enterprise Group, Inc. 1.60% 8/15/2030  | 475 | 421 |
| Southern California Edison Co. 4.90% 6/1/2026  | 4584 | 4591 |
| Southern California Edison Co. 5.85% 11/1/2027  | 10114 | 10401 |
| Southern California Edison Co. 5.30% 3/1/2028  | 300 | 306 |
| Southern California Edison Co. 5.65% 10/1/2028  | 185 | 192 |
| Southern California Edison Co. 5.25% 3/15/2030  | 2402 | 2465 |
| Southern California Edison Co. 2.50% 6/1/2031  | 293 | 263 |
| Wisconsin Public Service Corp. 4.55% 12/1/2029  | 1100 | 1121 |
| Xcel Energy, Inc. 3.35% 12/1/2026  | 5945 | 5910 |
| Xcel Energy, Inc. 4.75% 3/21/2028  | 3527 | 3576 |
|  |  | 75538 |
| **Health care 3.47%** |  |  |
| AbbVie, Inc. 4.80% 3/15/2027  | 2375 | 2401 |
| AbbVie, Inc. 4.80% 3/15/2029  | 1718 | 1761 |
| Amgen, Inc. 2.20% 2/21/2027  | 7231 | 7097 |
| Amgen, Inc. 5.15% 3/2/2028  | 5394 | 5521 |
| AstraZeneca Finance, LLC 4.85% 2/26/2029  | 792 | 813 |
| Baxter International, Inc. 1.915% 2/1/2027  | 3636 | 3550 |
| Baxter International, Inc. 4.45% 2/15/2029  | 1884 | 1891 |
| Baxter International, Inc. 4.90% 12/15/2030  | 1967 | 1983 |
| Becton, Dickinson and Co. 4.874% 2/8/2029  | 100 | 102 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **194** |

---

------

Capital Group Short Duration Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Health care (continued)** |  |  |
| Cigna Group (The) 5.00% 5/15/2029  | USD<br> 500<br>| $514 |
| Cigna Group (The) 4.50% 9/15/2030  | 2102 | 2117 |
| CVS Health Corp. 5.00% 2/20/2026  | 6150 | 6152 |
| CVS Health Corp. 5.00% 1/30/2029  | 210 | 214 |
| CVS Health Corp. 5.40% 6/1/2029  | 2095 | 2171 |
| Elevance Health, Inc. 4.00% 9/15/2028  | 3250 | 3246 |
| Elevance Health, Inc. 4.75% 2/15/2030  | 451 | 460 |
| Eli Lilly and Co. 4.75% 2/12/2030  | 1192 | 1226 |
| GE HealthCare Technologies, Inc. 4.80% 8/14/2029  | 159 | 163 |
| HCA, Inc. 5.25% 6/15/2026  | 205 | 205 |
| HCA, Inc. 5.00% 3/1/2028  | 3550 | 3617 |
| Johnson & Johnson 4.80% 6/1/2029  | 750 | 775 |
| Pfizer Investment Enterprises Pte., Ltd. 4.45% 5/19/2028  | 830 | 841 |
| Pfizer, Inc. 4.20% 11/15/2030  | 4250 | 4271 |
| Stryker Corp. 4.70% 2/10/2028  | 2600 | 2639 |
| Stryker Corp. 4.85% 2/10/2030  | 1400 | 1438 |
| Teva Pharmaceutical Finance Netherlands III BV 3.15% 10/1/2026  | 6566 | 6505 |
| UnitedHealth Group, Inc. 4.75% 7/15/2026  | 1200 | 1205 |
| UnitedHealth Group, Inc. 4.80% 1/15/2030  | 585 | 600 |
| UnitedHealth Group, Inc. 4.65% 1/15/2031  | 1400 | 1425 |
|  |  | 64903 |
| **Consumer discretionary 3.17%** |  |  |
| Amazon.com, Inc. 4.10% 11/20/2030  | 4000 | 4006 |
| Daimler Trucks Finance North America, LLC 5.00% 1/15/2027 <sup>(b)</sup>  | 350 | 354 |
| Daimler Trucks Finance North America, LLC 5.125% 9/25/2027 <sup>(b)</sup>  | 1325 | 1347 |
| Daimler Trucks Finance North America, LLC 4.95% 1/13/2028 <sup>(b)</sup>  | 1083 | 1100 |
| Daimler Trucks Finance North America, LLC 5.125% 9/25/2029 <sup>(b)</sup>  | 214 | 220 |
| Daimler Trucks Finance North America, LLC 5.25% 1/13/2030 <sup>(b)</sup>  | 700 | 721 |
| Ford Motor Credit Co., LLC 6.95% 3/6/2026  | 310 | 311 |
| Ford Motor Credit Co., LLC 6.95% 6/10/2026  | 6028 | 6082 |
| Ford Motor Credit Co., LLC 5.125% 11/5/2026  | 649 | 653 |
| Ford Motor Credit Co., LLC 5.85% 5/17/2027  | 12309 | 12503 |
| Ford Motor Credit Co., LLC 5.918% 3/20/2028  | 2072 | 2121 |
| Ford Motor Credit Co., LLC 6.798% 11/7/2028  | 350 | 367 |
| Ford Motor Credit Co., LLC 5.80% 3/8/2029  | 350 | 358 |
| Ford Motor Credit Co., LLC 5.875% 11/7/2029  | 610 | 626 |
| Ford Motor Credit Co., LLC 5.73% 9/5/2030  | 977 | 992 |
| General Motors Financial Co., Inc. 5.40% 4/6/2026  | 6320 | 6343 |
| General Motors Financial Co., Inc. 4.20% 10/27/2028  | 4308 | 4315 |
| General Motors Financial Co., Inc. 4.90% 10/6/2029  | 1151 | 1170 |
| General Motors Financial Co., Inc. 5.35% 1/7/2030  | 900 | 930 |
| Home Depot, Inc. 5.15% 6/25/2026  | 1025 | 1032 |
| Home Depot, Inc. 4.875% 6/25/2027  | 750 | 763 |
| Home Depot, Inc. 4.75% 6/25/2029  | 911 | 934 |
| Hyatt Hotels Corp. 5.05% 3/30/2028  | 600 | 611 |
| Hyundai Capital America 5.45% 6/24/2026 <sup>(b)</sup>  | 1854 | 1866 |
| Hyundai Capital America 5.30% 3/19/2027 <sup>(b)</sup>  | 575 | 583 |
| Hyundai Capital America 4.875% 6/23/2027 <sup>(b)</sup>  | 1684 | 1703 |
| Hyundai Capital America 4.90% 6/23/2028 <sup>(b)</sup>  | 1279 | 1299 |
| Hyundai Capital America 6.10% 9/21/2028 <sup>(b)</sup>  | 475 | 497 |
| Hyundai Capital America 6.50% 1/16/2029 <sup>(b)</sup>  | 53 | 56 |
| Hyundai Capital America 4.55% 9/26/2029 <sup>(b)</sup>  | 413 | 416 |
| Hyundai Capital America 5.30% 1/8/2030 <sup>(b)</sup>  | 900 | 928 |
| Hyundai Capital America 5.15% 3/27/2030 <sup>(b)</sup>  | 1000 | 1025 |
| Marriott International, Inc. 5.55% 10/15/2028  | 250 | 260 |
| Marriott International, Inc. 4.875% 5/15/2029  | 350 | 358 |
| Toyota Motor Credit Corp. 4.55% 8/9/2029  | 900 | 915 |
| Toyota Motor Credit Corp. 4.95% 1/9/2030  | 1475 | 1519 |
|  |  | 59284 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **195** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Short Duration Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Industrials 2.75%** |  |  |
| Air Lease Corp. 5.30% 6/25/2026  | USD<br> 1,055<br>| $1060 |
| BAE Systems PLC 5.125% 3/26/2029 <sup>(b)</sup>  | 648 | 667 |
| Boeing Co. (The) 2.75% 2/1/2026  | 149 | 149 |
| Boeing Co. (The) 2.196% 2/4/2026  | 10952 | 10931 |
| Boeing Co. (The) 6.259% 5/1/2027  | 12421 | 12750 |
| Boeing Co. (The) 6.298% 5/1/2029  | 378 | 401 |
| Canadian Pacific Railway Co. 4.80% 3/30/2030  | 1532 | 1568 |
| General Electric Co. 4.30% 7/29/2030  | 2121 | 2140 |
| Ingersoll-Rand, Inc. 5.197% 6/15/2027  | 650 | 661 |
| Ingersoll-Rand, Inc. 5.40% 8/14/2028  | 260 | 269 |
| Ingersoll-Rand, Inc. 5.176% 6/15/2029  | 312 | 323 |
| L3Harris Technologies, Inc. 5.40% 1/15/2027  | 6684 | 6783 |
| Northrop Grumman Corp. 4.65% 7/15/2030  | 1600 | 1629 |
| Paychex, Inc. 5.10% 4/15/2030  | 3435 | 3538 |
| RTX Corp. 5.75% 11/8/2026  | 6927 | 7023 |
| Waste Management, Inc. 4.65% 3/15/2030  | 1500 | 1530 |
|  |  | 51422 |
| **Consumer staples 2.70%** |  |  |
| Altria Group, Inc. 4.875% 2/4/2028  | 6098 | 6201 |
| BAT International Finance PLC 5.931% 2/2/2029  | 1456 | 1530 |
| Campbells Co. (The) 5.20% 3/19/2027  | 4079 | 4134 |
| Campbell's Co. (The) 5.20% 3/21/2029  | 255 | 261 |
| Constellation Brands, Inc. 4.35% 5/9/2027  | 390 | 392 |
| Constellation Brands, Inc. 4.80% 5/1/2030  | 248 | 252 |
| Coty, Inc. 5.60% 1/15/2031 <sup>(b)</sup>  | 1365 | 1379 |
| Diageo Investment Corp. 5.125% 8/15/2030  | 1443 | 1496 |
| Imperial Brands Finance PLC 4.50% 6/30/2028 <sup>(b)</sup>  | 10562 | 10649 |
| Mars, Inc. 4.45% 3/1/2027 <sup>(b)</sup>  | 2000 | 2015 |
| Mars, Inc. 4.60% 3/1/2028 <sup>(b)</sup>  | 3377 | 3424 |
| Mars, Inc. 4.80% 3/1/2030 <sup>(b)</sup>  | 2832 | 2895 |
| Mondelez International, Inc. 4.50% 5/6/2030  | 1750 | 1772 |
| Philip Morris International, Inc. 4.75% 2/12/2027  | 3000 | 3030 |
| Philip Morris International, Inc. 4.375% 11/1/2027  | 1975 | 1993 |
| Philip Morris International, Inc. 4.125% 4/28/2028  | 1400 | 1406 |
| Philip Morris International, Inc. 5.25% 9/7/2028  | 250 | 258 |
| Philip Morris International, Inc. 3.875% 10/27/2028  | 2250 | 2248 |
| Philip Morris International, Inc. 4.875% 2/13/2029  | 380 | 389 |
| Philip Morris International, Inc. 4.625% 11/1/2029  | 1129 | 1150 |
| Philip Morris International, Inc. 4.375% 4/30/2030  | 1743 | 1754 |
| Philip Morris International, Inc. 4.00% 10/29/2030  | 2010 | 1995 |
|  |  | 50623 |
| **Energy 1.81%** |  |  |
| Chevron USA, Inc. 4.687% 4/15/2030  | 1043 | 1067 |
| Columbia Pipelines Holding Co., LLC 6.042% 8/15/2028 <sup>(b)</sup>  | 450 | 468 |
| ConocoPhillips Co. 4.70% 1/15/2030  | 1800 | 1834 |
| Enbridge, Inc. 5.90% 11/15/2026  | 4782 | 4853 |
| Enbridge, Inc. 6.00% 11/15/2028  | 300 | 315 |
| Energy Transfer, LP 6.10% 12/1/2028  | 1238 | 1301 |
| Energy Transfer, LP 5.25% 7/1/2029  | 1073 | 1105 |
| Enterprise Products Operating, LLC 4.60% 1/15/2031  | 657 | 665 |
| EOG Resources, Inc. 4.40% 7/15/2028  | 706 | 714 |
| EOG Resources, Inc. 4.40% 1/15/2031  | 4183 | 4201 |
| Kinder Morgan, Inc. 5.00% 2/1/2029  | 319 | 327 |
| Occidental Petroleum Corp. 5.00% 8/1/2027  | 5742 | 5855 |
| Occidental Petroleum Corp. 5.20% 8/1/2029  | 625 | 641 |
| Petroleos Mexicanos 6.49% 1/23/2027  | 500 | 508 |
| Petroleos Mexicanos 8.75% 6/2/2029  | 4000 | 4291 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **196** |

---

------

Capital Group Short Duration Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Energy (continued)** |  |  |
| Repsol E&P Capital Markets US, LLC 4.805% 9/16/2028 <sup>(b)</sup>  | USD<br> 630<br>| $636 |
| Repsol E&P Capital Markets US, LLC 5.204% 9/16/2030 <sup>(b)</sup>  | 2106 | 2137 |
| Shell Finance US, Inc. 4.125% 11/6/2030  | 3000 | 3001 |
|  |  | 33919 |
| **Information technology 1.64%** |  |  |
| Amphenol Corp. 3.90% 11/15/2028  | 2750 | 2748 |
| Amphenol Corp. 4.125% 11/15/2030  | 2450 | 2438 |
| Broadcom, Inc. 4.15% 2/15/2028  | 1800 | 1807 |
| Broadcom, Inc. 5.05% 7/12/2029  | 1000 | 1030 |
| Broadcom, Inc. 4.35% 2/15/2030  | 1200 | 1208 |
| Microchip Technology, Inc. 4.90% 3/15/2028  | 4831 | 4899 |
| Oracle Corp. 1.65% 3/25/2026  | 650 | 646 |
| Oracle Corp. 4.80% 8/3/2028  | 5425 | 5453 |
| Oracle Corp. 4.45% 9/26/2030  | 3800 | 3718 |
| Synopsys, Inc. 4.65% 4/1/2028  | 6600 | 6693 |
| Texas Instruments, Inc. 4.60% 2/8/2029  | 130 | 133 |
|  |  | 30773 |
| **Communication services 1.35%** |  |  |
| Alphabet, Inc. 4.10% 11/15/2030  | 4000 | 4013 |
| AT&T, Inc. 1.70% 3/25/2026  | 7570 | 7532 |
| CCO Holdings, LLC 5.50% 5/1/2026 <sup>(b)</sup>  | 750 | 752 |
| Charter Communications Operating, LLC 6.10% 6/1/2029  | 3191 | 3332 |
| Comcast Corp. 5.10% 6/1/2029  | 600 | 620 |
| Meta Platforms, Inc. 4.20% 11/15/2030  | 3235 | 3243 |
| T-Mobile USA, Inc. 2.25% 2/15/2026  | 5532 | 5519 |
| T-Mobile USA, Inc. 4.80% 7/15/2028  | 275 | 280 |
|  |  | 25291 |
| **Materials 0.68%** |  |  |
| BHP Billiton Finance (USA), Ltd. 4.875% 2/27/2026  | 875 | 876 |
| BHP Billiton Finance (USA), Ltd. 5.10% 9/8/2028  | 250 | 258 |
| Celanese US Holdings, LLC 6.665% 7/15/2027  | 428 | 442 |
| Celanese US Holdings, LLC 6.85% 11/15/2028  | 2016 | 2111 |
| Chevron Phillips Chemical Co., LLC 4.75% 5/15/2030 <sup>(b)</sup>  | 581 | 589 |
| Dow Chemical Co. (The) 4.80% 1/15/2031  | 2600 | 2586 |
| LYB International Finance III, LLC 5.125% 1/15/2031  | 305 | 306 |
| Rio Tinto Finance (USA) PLC 4.875% 3/14/2030  | 1800 | 1850 |
| Sherwin-Williams Co. 4.30% 8/15/2028  | 2250 | 2264 |
| Sherwin-Williams Co. 4.50% 8/15/2030  | 1400 | 1415 |
|  |  | 12697 |
| **Real estate 0.49%** |  |  |
| COPT Defense Properties, LP 2.25% 3/15/2026  | 2592 | 2581 |
| Equinix, Inc. 1.45% 5/15/2026  | 6075 | 6020 |
| Ladder Capital Finance Holdings LLLP 5.50% 8/1/2030  | 603 | 617 |
|  |  | 9218 |
| **Total corporate bonds and notes** |  | 731038 |
| **Mortgage-backed obligations 32.53%** | **Mortgage-backed obligations 32.53%** | **Mortgage-backed obligations 32.53%** |
| **Federal agency mortgage-backed obligations 15.87%** |  |  |
| Fannie Mae Pool #MA5477 6.00% 9/1/2039 <sup>(c)</sup>  | 166 | 173 |
| Fannie Mae Pool #CC0188 6.00% 3/1/2040 <sup>(c)</sup>  | 815 | 846 |
| Fannie Mae Pool #MA5773 6.00% 7/1/2040 <sup>(c)</sup>  | 196 | 204 |
| Fannie Mae Pool #DA1075 6.00% 11/1/2053 <sup>(c)</sup>  | 27 | 28 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **197** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Short Duration Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Fannie Mae Pool #CB7612 6.00% 12/1/2053 <sup>(c)</sup>  | USD<br> 61<br>| $63 |
| Fannie Mae Pool #DA7801 5.50% 1/1/2054 <sup>(c)</sup>  | 908 | 923 |
| Fannie Mae Pool #MA5246 5.50% 1/1/2054 <sup>(c)</sup>  | 33 | 33 |
| Fannie Mae Pool #DA5980 6.00% 1/1/2054 <sup>(c)</sup>  | 739 | 761 |
| Fannie Mae Pool #DA5779 6.00% 1/1/2054 <sup>(c)</sup>  | 79 | 82 |
| Fannie Mae Pool #DA9467 6.00% 2/1/2054 <sup>(c)</sup>  | 50 | 52 |
| Fannie Mae Pool #MA5296 5.50% 3/1/2054 <sup>(c)</sup>  | 3493 | 3546 |
| Fannie Mae Pool #DA9742 6.00% 3/1/2054 <sup>(c)</sup>  | 139 | 143 |
| Fannie Mae Pool #DA6019 5.50% 4/1/2054 <sup>(c)</sup>  | 821 | 833 |
| Fannie Mae Pool #DB2745 5.50% 4/1/2054 <sup>(c)</sup>  | 416 | 424 |
| Fannie Mae Pool #BY7524 5.50% 4/1/2054 <sup>(c)</sup>  | 29 | 29 |
| Fannie Mae Pool #DB2626 5.50% 4/1/2054 <sup>(c)</sup>  | 28 | 28 |
| Fannie Mae Pool #CB8275 6.00% 4/1/2054 <sup>(c)</sup>  | 2000 | 2055 |
| Fannie Mae Pool #DB2762 6.00% 4/1/2054 <sup>(c)</sup>  | 2000 | 2054 |
| Fannie Mae Pool #MA5328 6.00% 4/1/2054 <sup>(c)</sup>  | 667 | 686 |
| Fannie Mae Pool #DB1087 6.00% 5/1/2054 <sup>(c)</sup>  | 873 | 898 |
| Fannie Mae Pool #MA5445 6.00% 8/1/2054 <sup>(c)</sup>  | 3571 | 3669 |
| Fannie Mae Pool #DC2000 6.00% 9/1/2054 <sup>(c)</sup>  | 2000 | 2054 |
| Fannie Mae Pool #DC3262 6.00% 9/1/2054 <sup>(c)</sup>  | 117 | 120 |
| Fannie Mae Pool #DC3459 6.00% 9/1/2054 <sup>(c)</sup>  | 58 | 60 |
| Fannie Mae Pool #DC8833 6.00% 12/1/2054 <sup>(c)</sup>  | 3906 | 4014 |
| Fannie Mae Pool #DC8826 6.00% 12/1/2054 <sup>(c)</sup>  | 2212 | 2273 |
| Fannie Mae Pool #FA0287 6.00% 12/1/2054 <sup>(c)</sup>  | 2000 | 2056 |
| Fannie Mae Pool #FA0445 5.50% 1/1/2055 <sup>(c)</sup>  | 3229 | 3277 |
| Fannie Mae Pool #DD0827 6.00% 1/1/2055 <sup>(c)</sup>  | 2000 | 2056 |
| Fannie Mae Pool #MA5615 6.00% 2/1/2055 <sup>(c)</sup>  | 5380 | 5527 |
| Fannie Mae Pool #MA5647 6.00% 3/1/2055 <sup>(c)</sup>  | 3885 | 3992 |
| Fannie Mae Pool #MA5648 6.50% 3/1/2055 <sup>(c)</sup>  | 2000 | 2079 |
| Fannie Mae Pool #DD7343 6.00% 4/1/2055 <sup>(c)</sup>  | 3000 | 3085 |
| Fannie Mae Pool #MA5674 6.00% 4/1/2055 <sup>(c)</sup>  | 1000 | 1027 |
| Fannie Mae Pool #FA1162 6.00% 4/1/2055 <sup>(c)</sup>  | 89 | 92 |
| Fannie Mae Pool #DD4459 6.00% 4/1/2055 <sup>(c)</sup>  | 87 | 90 |
| Fannie Mae Pool #MA5701 6.00% 5/1/2055 <sup>(c)</sup>  | 16404 | 16855 |
| Fannie Mae Pool #MA5736 6.00% 6/1/2055 <sup>(c)</sup>  | 456 | 469 |
| Fannie Mae Pool #DE2212 5.50% 7/1/2055 <sup>(c)</sup>  | 834 | 846 |
| Fannie Mae Pool #MA5761 6.00% 7/1/2055 <sup>(c)</sup>  | 1844 | 1895 |
| Fannie Mae Pool #MA5762 6.50% 7/1/2055 <sup>(c)</sup>  | 874 | 908 |
| Fannie Mae Pool #MA5792 5.50% 8/1/2055 <sup>(c)</sup>  | 4212 | 4273 |
| Fannie Mae Pool #MA5822 5.50% 9/1/2055 <sup>(c)</sup>  | 10647 | 10802 |
| Fannie Mae Pool #DF3941 5.50% 11/1/2055 <sup>(c)</sup>  | 458 | 465 |
| Farmer Mac Agricultural Real Estate Trust, Series 2024-2, Class A1, 5.191% 8/1/2054 <sup>(b)(c)(d)</sup>  | 540 | 550 |
| Farmer Mac Agricultural Real Estate Trust, Series 2025-1, Class A1, 5.22% 8/1/2055 <sup>(b)(c)(d)</sup>  | 4764 | 4836 |
| Freddie Mac Pool #SB1452 6.00% 4/1/2040 <sup>(c)</sup>  | 790 | 821 |
| Freddie Mac Pool #QO3370 6.00% 4/1/2040 <sup>(c)</sup>  | 641 | 666 |
| Freddie Mac Pool #SD3513 6.00% 8/1/2053 <sup>(c)</sup>  | 26 | 27 |
| Freddie Mac Pool #QH6125 6.00% 12/1/2053 <sup>(c)</sup>  | 28 | 29 |
| Freddie Mac Pool #QH9078 5.50% 1/1/2054 <sup>(c)</sup>  | 481 | 490 |
| Freddie Mac Pool #RJ1372 6.00% 1/1/2054 <sup>(c)</sup>  | 1383 | 1423 |
| Freddie Mac Pool #RJ0854 6.50% 1/1/2054 <sup>(c)</sup>  | 104 | 109 |
| Freddie Mac Pool #QH9775 5.50% 2/1/2054 <sup>(c)</sup>  | 494 | 501 |
| Freddie Mac Pool #SD8431 5.50% 5/1/2054 <sup>(c)</sup>  | 439 | 446 |
| Freddie Mac Pool #SD8432 6.00% 5/1/2054 <sup>(c)</sup>  | 730 | 750 |
| Freddie Mac Pool #QI6042 6.00% 5/1/2054 <sup>(c)</sup>  | 676 | 696 |
| Freddie Mac Pool #QI8145 6.00% 6/1/2054 <sup>(c)</sup>  | 822 | 846 |
| Freddie Mac Pool #SD8439 6.00% 6/1/2054 <sup>(c)</sup>  | 10 | 10 |
| Freddie Mac Pool #RJ1725 6.50% 6/1/2054 <sup>(c)</sup>  | 178 | 187 |
| Freddie Mac Pool #SD6143 6.00% 7/1/2054 <sup>(c)</sup>  | 2638 | 2710 |
| Freddie Mac Pool #SD8447 6.00% 7/1/2054 <sup>(c)</sup>  | 2000 | 2055 |
| Freddie Mac Pool #RJ2526 6.00% 7/1/2054 <sup>(c)</sup>  | 419 | 431 |
| Freddie Mac Pool #RJ1986 6.50% 7/1/2054 <sup>(c)</sup>  | 1692 | 1761 |
| Freddie Mac Pool #SD5986 6.50% 7/1/2054 <sup>(c)</sup>  | 639 | 671 |
| Freddie Mac Pool #SD8448 6.50% 7/1/2054 <sup>(c)</sup>  | 154 | 160 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **198** |

---

------

Capital Group Short Duration Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** |  |  |
| Freddie Mac Pool #SD8454 6.00% 8/1/2054 <sup>(c)</sup>  | USD<br> 5,633<br>| $5787 |
| Freddie Mac Pool #RJ2702 6.00% 8/1/2054 <sup>(c)</sup>  | 2000 | 2054 |
| Freddie Mac Pool #QJ3296 6.00% 8/1/2054 <sup>(c)</sup>  | 66 | 68 |
| Freddie Mac Pool #SD8462 5.50% 9/1/2054 <sup>(c)</sup>  | 11027 | 11190 |
| Freddie Mac Pool #QJ3945 6.00% 9/1/2054 <sup>(c)</sup>  | 25 | 26 |
| Freddie Mac Pool #QJ6718 6.00% 10/1/2054 <sup>(c)</sup>  | 2259 | 2322 |
| Freddie Mac Pool #RJ3187 6.00% 10/1/2054 <sup>(c)</sup>  | 445 | 457 |
| Freddie Mac Pool #QJ5733 6.00% 10/1/2054 <sup>(c)</sup>  | 156 | 161 |
| Freddie Mac Pool #SD8475 5.50% 11/1/2054 <sup>(c)</sup>  | 12537 | 12722 |
| Freddie Mac Pool #QJ9527 6.00% 11/1/2054 <sup>(c)</sup>  | 3922 | 4029 |
| Freddie Mac Pool #SD8507 6.00% 2/1/2055 <sup>(c)</sup>  | 2504 | 2573 |
| Freddie Mac Pool #SD8516 6.00% 3/1/2055 <sup>(c)</sup>  | 2582 | 2653 |
| Freddie Mac Pool #SD8525 6.00% 4/1/2055 <sup>(c)</sup>  | 40690 | 41809 |
| Freddie Mac Pool #SL1416 6.00% 4/1/2055 <sup>(c)</sup>  | 715 | 735 |
| Freddie Mac Pool #QY1235 6.00% 4/1/2055 <sup>(c)</sup>  | 78 | 80 |
| Freddie Mac Pool #SD8534 6.00% 5/1/2055 <sup>(c)</sup>  | 44750 | 45985 |
| Freddie Mac Pool #SL1137 6.00% 5/1/2055 <sup>(c)</sup>  | 3000 | 3082 |
| Freddie Mac Pool #RQ0027 5.50% 7/1/2055 <sup>(c)</sup>  | 9832 | 9975 |
| Freddie Mac Pool #RQ0028 6.00% 7/1/2055 <sup>(c)</sup>  | 457 | 470 |
| Freddie Mac Pool #RQ0041 6.00% 8/1/2055 <sup>(c)</sup>  | 82 | 84 |
| Uniform Mortgage-Backed Security 5.50% 1/1/2041 <sup>(c)(e)</sup>  | 492 | 504 |
| Uniform Mortgage-Backed Security 6.00% 1/1/2056 <sup>(c)(e)</sup>  | 43000 | 44156 |
|  |  | 296942 |
| **Collateralized mortgage-backed obligations (privately originated) 9.45%** |  |  |
| Angel Oak Mortgage Trust, Series 2024-8, Class A1, 5.338% 5/27/2069 (6.338% on 8/1/2028) <sup>(a)(b)(c)</sup>  | 1400 | 1407 |
| Arroyo Mortgage Trust, Series 2019-1, Class A1, 3.805% 1/25/2049 <sup>(b)(c)(d)</sup>  | 56 | 55 |
| Arroyo Mortgage Trust, Series 2019-2, Class A3, 3.80% 4/25/2049 <sup>(b)(c)(d)</sup>  | 243 | 239 |
| Arroyo Mortgage Trust, Series 2022-1, Class A1A, 2.495% 12/25/2056 (3.495% on 2/25/2026) <sup>(a)(b)(c)</sup>  | 239 | 233 |
| Atlas SP, Series 2024-RPL1, Class A1, 3.85% 4/25/2064 (4.85% on 8/1/2028) <sup>(a)(b)(c)</sup>  | 2746 | 2687 |
| BRAVO Residential Funding Trust, Series 2020-RPL1, Class A1, 2.50% 5/26/2059 <sup>(b)(c)(d)</sup>  | 33 | 33 |
| BRAVO Residential Funding Trust, Series 2023-NQM8, Class A1, 6.394% 10/25/2063 (7.394% on <br> 11/1/2027) <sup>(a)(b)(c)</sup>  | 1440 | 1452 |
| BRAVO Residential Funding Trust, Series 2025-NQM1, Class A1, 5.604% 12/25/2064 <sup>(a)(b)(c)</sup>  | 4842 | 4886 |
| BRAVO Residential Funding Trust, Series 2025-NQM5, Class A1, 5.496% 2/25/2065 (6.496% on <br> 5/1/2027) <sup>(a)(b)(c)</sup>  | 3317 | 3346 |
| Cascade Funding Mortgage Trust, Series 2024-NR1, Class A1, 6.405% 11/25/2029 (9.405% on <br> 11/25/2027) <sup>(a)(b)(c)</sup>  | 3703 | 3708 |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class A, 4.00% 8/25/2034 <sup>(b)(c)(d)</sup>  | 561 | 559 |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class M1, 4.00% 8/25/2034 <sup>(b)(c)(d)</sup>  | 485 | 477 |
| Cascade Funding Mortgage Trust, Series 2024-RM5, Class A, 4.00% 10/25/2054 <sup>(b)(c)(d)</sup>  | 2835 | 2783 |
| Cascade Funding Mortgage Trust, Series 2024-R1, Class A1, 4.00% 10/25/2054 (5.00% on 10/25/2028) <sup>(a)(b)(c)</sup>  | 1780 | 1762 |
| CIM Trust, Series 2018-R3, Class A1, 5.00% 12/25/2057 <sup>(b)(c)(d)</sup>  | 1 | 1 |
| CIM Trust, Series 2025-R1, Class A1, 5.00% 2/25/2099 (8.00% on 3/1/2028) <sup>(a)(b)(c)</sup>  | 2379 | 2373 |
| COLT Funding, LLC, Series 2023-1, Class A1, 6.048% 4/25/2068 (7.048% on 4/1/2027) <sup>(a)(b)(c)</sup>  | 708 | 710 |
| COLT Funding, LLC, Series 2023-3, Class A1, 7.18% 9/25/2068 (8.18% on 9/1/2027) <sup>(a)(b)(c)</sup>  | 757 | 766 |
| Connecticut Avenue Securities Trust, Series 2016-C02, Class 1M2, (30-day Average USD-SOFR + 6.114%) <br> 9.989% 9/25/2028 <sup>(c)(d)</sup>  | 13 | 13 |
| Connecticut Avenue Securities Trust, Series 2023-R01, Class 1M1, (30-day Average USD-SOFR + 2.40%) <br> 6.274% 12/25/2042 <sup>(b)(c)(d)</sup>  | 926 | 945 |
| Connecticut Avenue Securities Trust, Series 2023-R05, Class 1M1, (30-day Average USD-SOFR + 1.90%) <br> 5.774% 6/25/2043 <sup>(b)(c)(d)</sup>  | 232 | 234 |
| Connecticut Avenue Securities Trust, Series 2023-R06, Class 1M1, (30-day Average USD-SOFR + 1.70%) <br> 5.574% 7/25/2043 <sup>(b)(c)(d)</sup>  | 216 | 217 |
| Connecticut Avenue Securities Trust, Series 2024-R01, Class 1M1, (30-day Average USD-SOFR + 1.05%) <br> 4.924% 1/25/2044 <sup>(b)(c)(d)</sup>  | 667 | 667 |
| Connecticut Avenue Securities Trust, Series 2024-R01, Class 1B1, (30-day Average USD-SOFR + 2.70%) <br> 6.574% 1/25/2044 <sup>(b)(c)(d)</sup>  | 995 | 1020 |
| Connecticut Avenue Securities Trust, Series 2024-R02, Class 1M1, (30-day Average USD-SOFR + 1.10%) <br> 4.974% 2/25/2044 <sup>(b)(c)(d)</sup>  | 427 | 427 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **199** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Short Duration Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Collateralized mortgage-backed obligations (privately originated) (continued)** |  |  |
| Connecticut Avenue Securities Trust, Series 2024-R02, Class 1B1, (30-day Average USD-SOFR + 2.50%) <br> 6.374% 2/25/2044 <sup>(b)(c)(d)</sup>  | USD<br> 593<br>| $605 |
| Connecticut Avenue Securities Trust, Series 2024-R04, Class 1M1, (30-day Average USD-SOFR + 1.10%) <br> 4.974% 5/25/2044 <sup>(b)(c)(d)</sup>  | 473 | 473 |
| Connecticut Avenue Securities Trust, Series 2024-R04, Class 1B1, (30-day Average USD-SOFR + 2.20%) <br> 6.074% 5/25/2044 <sup>(b)(c)(d)</sup>  | 333 | 337 |
| Connecticut Avenue Securities Trust, Series 2024-R06, Class 1A1, (30-day Average USD-SOFR + 1.15%) <br> 5.024% 9/25/2044 <sup>(b)(c)(d)</sup>  | 1680 | 1684 |
| Connecticut Avenue Securities Trust, Series 2024-R06, Class 1M2, (30-day Average USD-SOFR + 1.60%) <br> 5.474% 9/25/2044 <sup>(b)(c)(d)</sup>  | 275 | 275 |
| Connecticut Avenue Securities Trust, Series 2025-R01, Class 1A1, (30-day Average USD-SOFR + 0.95%) <br> 4.824% 1/25/2045 <sup>(b)(c)(d)</sup>  | 1699 | 1700 |
| Connecticut Avenue Securities Trust, Series 2025-R02, Class 1A1, (30-day Average USD-SOFR + 1.00%) <br> 4.874% 2/25/2045 <sup>(b)(c)(d)</sup>  | 570 | 571 |
| Finance of America HECM Buyout, Series 24-HB1, Class A1A, 4.00% 10/1/2034 <sup>(b)(c)(d)</sup>  | 126 | 126 |
| Finance of America Structured Securities Trust, Series 2025-PC1, Class A1, 4.50% 5/25/2075 <sup>(a)(b)(c)</sup>  | 2132 | 2067 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2016-DNA1, Class M3, (30-day Average <br> USD-SOFR + 5.664%) 9.539% 7/25/2028 <sup>(c)(d)</sup>  | 119 | 119 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA5, Class M1A, (30-day Average <br> USD-SOFR + 2.95%) 6.824% 6/25/2042 <sup>(b)(c)(d)</sup>  | 636 | 648 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1A, (30-day Average <br> USD-SOFR + 2.15%) 6.024% 9/25/2042 <sup>(b)(c)(d)</sup>  | 632 | 636 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA1, Class A1, (30-day Average <br> USD-SOFR + 1.35%) 5.224% 2/25/2044 <sup>(b)(c)(d)</sup>  | 1329 | 1333 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA2, Class A1, (30-day Average <br> USD-SOFR + 1.25%) 5.124% 5/25/2044 <sup>(b)(c)(d)</sup>  | 1832 | 1839 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA3, Class A1, (30-day Average <br> USD-SOFR + 1.05%) 4.924% 10/25/2044 <sup>(b)(c)(d)</sup>  | 1089 | 1091 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2025-DNA1, Class A1, (30-day Average <br> USD-SOFR + 0.95%) 4.824% 1/25/2045 <sup>(b)(c)(d)</sup>  | 675 | 676 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2025-DNA2, Class A1, (30-day Average <br> USD-SOFR + 1.10%) 4.974% 5/25/2045 <sup>(b)(c)(d)</sup>  | 849 | 851 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2025-DNA3, Class A1, (30-day Average <br> USD-SOFR + 0.95%) 4.824% 9/25/2045 <sup>(b)(c)(d)</sup>  | 1763 | 1764 |
| GCAT Trust, Series 2024-NQM2, Class A1, 6.085% 6/25/2059 (7.359% on 5/1/2028) <sup>(a)(b)(c)</sup>  | 533 | 539 |
| GCAT Trust, Series 2025-NQM4, Class A1, 5.529% 6/25/2070 <sup>(a)(b)(c)</sup>  | 4584 | 4629 |
| GS Mortgage-Backed Securities Trust, Series 2024-RPL2, Class A1, 3.75% 7/25/2061 (4.75% on <br> 2/1/2028) <sup>(a)(b)(c)</sup>  | 580 | 570 |
| Imperial Fund Mortgage Trust, Series 2022-NQM7, Class A1, 7.369% 11/25/2067 (8.369% on <br> 11/1/2026) <sup>(a)(b)(c)</sup>  | 400 | 402 |
| Imperial Fund Mortgage Trust, Series 2023-NQM1, Class A1, 5.941% 2/25/2068 (6.941% on 1/1/2027) <sup>(a)(b)(c)</sup>  | 1222 | 1220 |
| MFRA Trust, Series 2024-NQM2, Class A1, 5.272% 8/1/2064 (6.272% on 8/1/2028) <sup>(a)(b)(c)</sup>  | 3190 | 3197 |
| MFRA Trust, Series 2024-NQM3, Class A1, 5.722% 12/25/2069 (6.722% on 12/1/2028) <sup>(a)(b)(c)</sup>  | 3897 | 3930 |
| MFRA Trust, Series 2025-NQM3, Class A1, 5.261% 8/25/2070 (6.261% on 7/1/2029) <sup>(a)(b)(c)</sup>  | 1943 | 1950 |
| Mill City Mortgage Trust, Series 2019-GS2, Class A1, 2.75% 8/25/2059 <sup>(b)(c)(d)</sup>  | 190 | 186 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2024-NQM2, Class A1, 6.386% 5/25/2069 (7.386% <br> on 5/1/2028) <sup>(a)(b)(c)</sup>  | 1244 | 1261 |
| New Residential Mortgage Loan Trust, Series 2019-RPL3, Class A1, 2.75% 7/25/2059 <sup>(b)(c)(d)</sup>  | 472 | 458 |
| New Residential Mortgage Loan Trust, Series 2020-RPL1, Class A1, 2.75% 11/25/2059 <sup>(b)(c)(d)</sup>  | 176 | 170 |
| New Residential Mortgage Loan Trust, Series 2025-NQM2, Class A1, 5.566% 4/25/2065 <sup>(a)(b)(c)</sup>  | 2315 | 2342 |
| New York Mortgage Trust, Series 2024-CP1, Class A1, 3.75% 2/25/2068 <sup>(b)(c)(d)</sup>  | 509 | 476 |
| NRZ Excess Spread Collateralized Notes, Series 2025-FHT1, Class A, 6.545% 3/25/2032 <sup>(a)(b)(c)</sup>  | 5035 | 5094 |
| Onslow Bay Financial Mortgage Loan Trust, Series 2024-HYB1, Class A1, 3.637% 3/25/2053 <sup>(b)(c)(d)</sup>  | 895 | 893 |
| Onslow Bay Financial Mortgage Loan Trust, Series 2023-NQM1, Class A1, 6.12% 11/25/2062 (7.12% on <br> 12/1/2026) <sup>(a)(b)(c)</sup>  | 414 | 413 |
| Onslow Bay Financial Mortgage Loan Trust, Series 2023-NQM4, Class A1, 6.113% 3/25/2063 (7.113% on <br> 5/1/2027) <sup>(a)(b)(c)</sup>  | 379 | 380 |
| Onslow Bay Financial Mortgage Loan Trust, Series 2025-NQM8, Class A1, 5.472% 3/25/2065 (6.472% on <br> 5/1/2029) <sup>(a)(b)(c)</sup>  | 6367 | 6425 |
| Onslow Bay Financial, LLC, Series 2024-HYB2, Class A1, 3.695% 4/25/2053 <sup>(b)(c)(d)</sup>  | 1948 | 1934 |
| Onslow Bay Financial, LLC, Series 2024-NQM5, Class A1, 5.988% 1/25/2064 (6.988% on 3/1/2028) <sup>(a)(b)(c)</sup>  | 785 | 792 |
| Onslow Bay Financial, LLC, Series 2024-NQM4, Class A1, 6.067% 1/25/2064 (7.067% on 2/1/2028) <sup>(a)(b)(c)</sup>  | 1060 | 1070 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **200** |

---

------

Capital Group Short Duration Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Collateralized mortgage-backed obligations (privately originated) (continued)** |  |  |
| Onslow Bay Financial, LLC, Series 2024-NQM7, Class A1, 6.243% 3/25/2064 (7.243% on 4/1/2028) <sup>(a)(b)(c)</sup>  | USD<br> 945<br>| $957 |
| Onslow Bay Financial, LLC, Series 2024-NQM10, Class A1, 6.18% 5/25/2064 (7.18% on 6/1/2028) <sup>(a)(b)(c)</sup>  | 2018 | 2044 |
| Onslow Bay Financial, LLC, Series 2024-NQM8, Class A1, 6.233% 5/25/2064 (7.233% on 5/1/2028) <sup>(a)(b)(c)</sup>  | 2631 | 2664 |
| Onslow Bay Financial, LLC, Series 2024-NQM13, Class A1, 5.116% 6/25/2064 (6.116% on 8/1/2028) <sup>(a)(b)(c)</sup>  | 1650 | 1655 |
| Onslow Bay Financial, LLC, Series 2024-NQM11, Class A1, 5.875% 6/25/2064 (6.825% on 7/1/2028) <sup>(a)(b)(c)</sup>  | 4622 | 4670 |
| Onslow Bay Financial, LLC, Series 2024-NQM17, Class A1, 5.61% 11/25/2064 (6.61% on 11/1/2028) <sup>(a)(b)(c)</sup>  | 2050 | 2070 |
| Onslow Bay Financial, LLC, Series 2025-NQM3, Class A1, 5.648% 12/1/2064 (6.648% on 2/1/2029) <sup>(a)(b)(c)</sup>  | 3046 | 3078 |
| Onslow Bay Financial, LLC, Series 2025-NQM1, Class A1, 5.547% 12/25/2064 (6.547% on 12/1/2028) <sup>(a)(b)(c)</sup>  | 4554 | 4595 |
| Onslow Bay Financial, LLC, Series 2025-NQM14, Class A1A, 5.162% 7/25/2065 (6.162% on 7/1/2029) <sup>(a)(b)(c)</sup>  | 1833 | 1843 |
| Onslow Bay Financial, LLC, Series 2025-NQM18, Class A1A, 5.057% 9/25/2065 (6.057% on 9/1/2029) <sup>(a)(b)(c)</sup>  | 5510 | 5535 |
| Onslow Bay Financial, LLC, Series 2025-NQM19, Class A1, 4.869% 10/25/2065 <sup>(b)(c)(d)</sup>  | 3353 | 3362 |
| Progress Residential Trust, Series 2024-SFR5, Class B, 3.25% 8/9/2029 <sup>(b)(c)</sup>  | 1343 | 1277 |
| Progress Residential Trust, Series 2021-SFR6, Class A, 1.524% 7/17/2038 <sup>(b)(c)</sup>  | 1948 | 1924 |
| Progress Residential Trust, Series 2022-SFR3, Class A, 3.20% 4/17/2039 <sup>(b)(c)</sup>  | 476 | 469 |
| Progress Residential Trust, Series 2024-SFR1, Class A, 3.35% 2/17/2041 <sup>(b)(c)</sup>  | 1139 | 1105 |
| Progress Residential Trust, Series 2024-SFR3, Class A, 3.00% 6/17/2041 <sup>(b)(c)</sup>  | 2242 | 2141 |
| Progress Residential Trust, Series 2025-SFR3, Class A, 3.39% 7/17/2042 <sup>(b)(c)</sup>  | 997 | 951 |
| PRP Advisors, LLC, Series 2025-RPL3, Class A1, 3.25% 4/25/2055 (4.25% on 4/1/2028) <sup>(a)(b)(c)</sup>  | 877 | 851 |
| Sequoia Mortgage Trust, Series 2025-HYB1, Class A1A, 5.061% 10/25/2055 <sup>(b)(c)(d)</sup>  | 4306 | 4324 |
| Starwood Mortgage Residential Trust, Series 2024-SFR4, Class A, (1-month USD CME Term SOFR + 1.75%) <br> 5.50% 10/17/2041 <sup>(b)(c)(d)</sup>  | 1647 | 1654 |
| Starwood Mortgage Residential Trust, Series 2025-SFR5, Class A, (1-month USD CME Term SOFR + 1.45%) <br> 5.201% 2/17/2042 <sup>(b)(c)(d)</sup>  | 599 | 600 |
| Towd Point Mortgage Trust, Series 2015-5, Class B1, 3.988% 5/25/2055 <sup>(b)(c)(d)</sup>  | 990 | 981 |
| Towd Point Mortgage Trust, Series 2016-2, Class M1, 3.00% 8/25/2055 <sup>(b)(c)(d)</sup>  | 189 | 187 |
| Towd Point Mortgage Trust, Series 2016-3, Class M2, 4.00% 4/25/2056 <sup>(b)(c)(d)</sup>  | 1366 | 1362 |
| Towd Point Mortgage Trust, Series 2017-1, Class A2, 3.50% 10/25/2056 <sup>(b)(c)(d)</sup>  | 32 | 32 |
| Towd Point Mortgage Trust, Series 2017-2, Class A4, 3.75% 4/25/2057 <sup>(b)(c)(d)</sup>  | 312 | 309 |
| Towd Point Mortgage Trust, Series 2017-6, Class A1, 2.75% 10/25/2057 <sup>(b)(c)(d)</sup>  | 222 | 219 |
| Towd Point Mortgage Trust, Series 2018-1, Class A1, 3.00% 1/25/2058 <sup>(b)(c)(d)</sup>  | 95 | 95 |
| Towd Point Mortgage Trust, Series 2019-1, Class A1, 3.75% 3/25/2058 <sup>(b)(c)(d)</sup>  | 370 | 362 |
| Towd Point Mortgage Trust, Series 2019-2, Class A1, 3.75% 12/25/2058 <sup>(b)(c)(d)</sup>  | 393 | 384 |
| Towd Point Mortgage Trust, Series 15-2, Class 1B2, 3.698% 11/25/2060 <sup>(b)(c)(d)</sup>  | 1225 | 1200 |
| Towd Point Mortgage Trust, Series 2023-1, Class A1, 3.75% 1/25/2063 <sup>(b)(c)</sup>  | 866 | 843 |
| Towd Point Mortgage Trust, Series 2024-3, Class A1A, 5.03% 7/25/2065 <sup>(b)(c)(d)</sup>  | 1520 | 1536 |
| Tricon Residential Trust, Series 2024-SFR2, Class A, 4.75% 6/17/2040 <sup>(b)(c)</sup>  | 1370 | 1375 |
| Tricon Residential Trust, Series 2023-SFR2, Class A, 5.00% 12/17/2040 <sup>(b)(c)</sup>  | 346 | 348 |
| Tricon Residential Trust, Series 2024-SFR3, Class A, 4.50% 8/17/2041 <sup>(b)(c)</sup>  | 2236 | 2237 |
| Verus Securitization Trust, Series 2025-R1, Class A1, 5.402% 5/25/2065 (6.402% on 7/1/2029) <sup>(a)(b)(c)</sup>  | 5510 | 5553 |
| Verus Securitization Trust, Series 2023-1, Class A1, 5.85% 12/25/2067 (6.85% on 1/1/2027) <sup>(a)(b)(c)</sup>  | 452 | 451 |
| Verus Securitization Trust, Series 2023-3, Class A1, 5.93% 3/25/2068 (6.93% on 4/1/2027) <sup>(a)(b)(c)</sup>  | 165 | 165 |
| Verus Securitization Trust, Series 2023-4, Class A1, 5.811% 5/25/2068 (6.811% on 5/1/2027) <sup>(a)(b)(c)</sup>  | 627 | 627 |
| Verus Securitization Trust, Series 2023-5, Class A5, 6.476% 6/25/2068 (7.476% on 6/1/2027) <sup>(a)(b)(c)</sup>  | 431 | 433 |
| Verus Securitization Trust, Series 2024-2, Class A1, 6.095% 2/25/2069 (7.095% on 2/1/2028) <sup>(a)(b)(c)</sup>  | 914 | 922 |
| Verus Securitization Trust, Series 2024-3, Class A1, 6.338% 4/25/2069 (7.338% on 4/1/2028) <sup>(a)(b)(c)</sup>  | 2694 | 2726 |
| Verus Securitization Trust, Series 2024-5, Class A1, 6.192% 6/25/2069 (7.192% on 6/1/2028) <sup>(a)(b)(c)</sup>  | 1432 | 1450 |
| Verus Securitization Trust, Series 2024-4, Class A1, 6.218% 6/25/2069 (7.218% on 5/1/2028) <sup>(a)(b)(c)</sup>  | 875 | 887 |
| Verus Securitization Trust, Series 2024-R1, Class A1, 5.218% 9/25/2069 <sup>(b)(c)(d)</sup>  | 923 | 925 |
| Verus Securitization Trust, Series 2024-8, Class A1, 5.364% 10/25/2069 <sup>(b)(c)(d)</sup>  | 2040 | 2052 |
| Verus Securitization Trust, Series 2024-9, Class A1, 5.438% 11/25/2069 <sup>(b)(c)(d)</sup>  | 1810 | 1824 |
| Verus Securitization Trust, Series 2025-3, Class A1, 5.623% 5/25/2070 (6.623% on 4/1/2029) <sup>(a)(b)(c)</sup>  | 4721 | 4773 |
| Verus Securitization Trust, Series 2025-5, Class A1, 5.427% 6/25/2070 (6.427% on 6/1/2029) <sup>(a)(b)(c)</sup>  | 3852 | 3886 |
| Verus Securitization Trust, Series 2025-7, Class A1, 5.129% 8/25/2070 (6.129% on 8/1/2029) <sup>(a)(b)(c)</sup>  | 2752 | 2765 |
| Verus Securitization Trust, Series 2025-8, Class A1A, 4.869% 9/25/2070 (5.869% on 9/1/2029) <sup>(a)(b)(c)</sup>  | 2146 | 2148 |
|  |  | 176952 |
| **Commercial mortgage-backed securities 7.21%** |  |  |
| ALA Trust, Series 2025-OANA, Class A, (1-month USD CME Term SOFR + 1.743%) 5.494% 6/15/2030 <sup>(b)(c)(d)</sup>  | 3550 | 3569 |
| AMSR Trust, Series 2021-SFR3, Class A, 1.476% 10/17/2038 <sup>(b)(c)</sup>  | 2477 | 2423 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **201** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Short Duration Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities (continued)** |  |  |
| ARES Commercial Mortgage Trust, Series 24-IND, Class A, (1-month USD CME Term SOFR + 1.69%) 5.442% <br> 7/15/2041 <sup>(b)(c)(d)</sup>  | USD<br> 447<br>| $448 |
| Atrium Hotel Portfolio Trust, Series 2024-ATRM, Class A, 5.589% 11/10/2029 <sup>(b)(c)(d)</sup>  | 2337 | 2386 |
| Bank5, Series 2025-5YR18, Class AS, 5.466% 12/15/2058 <sup>(c)(d)</sup>  | 843 | 867 |
| Bank Commercial Mortgage Trust, Series 2017-BNK4, Class A3, 3.362% 5/15/2050 <sup>(c)</sup>  | 819 | 813 |
| Bank Commercial Mortgage Trust, Series 2017-BNK4, Class A4, 3.625% 5/15/2050 <sup>(c)</sup>  | 1127 | 1116 |
| Bank Commercial Mortgage Trust, Series 2023-5YR1, Class A3, 6.26% 4/15/2056 <sup>(c)(d)</sup>  | 133 | 138 |
| Bank Commercial Mortgage Trust, Series 2024-5YR8, Class A3, 5.884% 8/15/2057 <sup>(c)</sup>  | 430 | 451 |
| Bank Commercial Mortgage Trust, Series 2024-5YR11, Class A3, 5.893% 11/15/2057 <sup>(c)</sup>  | 2142 | 2253 |
| Bank Commercial Mortgage Trust, Series 2024-5YR12, Class A3, 5.902% 12/15/2057 <sup>(c)(d)</sup>  | 350 | 368 |
| Bank Commercial Mortgage Trust, Series 2024-5YR12, Class AS, 6.122% 12/15/2057 <sup>(c)(d)</sup>  | 166 | 174 |
| Bank Commercial Mortgage Trust, Series 2025-5YR14, Class AS, 6.072% 4/15/2058 <sup>(c)(d)</sup>  | 1227 | 1285 |
| Bank Commercial Mortgage Trust, Series 2025-5YR14, Class C, 6.463% 4/15/2058 <sup>(c)(d)</sup>  | 1403 | 1442 |
| Bank Commercial Mortgage Trust, Series 2019-BN18, Class A4, 3.584% 5/15/2062 <sup>(c)</sup>  | 414 | 399 |
| Barclays Commercial Mortgage Securities, LLC, Series 2018-TALL, Class A, ((1-month USD CME Term SOFR + <br> 0.047%) + 0.872%) 4.669% 3/15/2037 <sup>(b)(c)(d)</sup>  | 241 | 229 |
| Barclays Commercial Mortgage Securities, LLC, Series 2024-5C31, Class AS, 5.852% 12/15/2057 <sup>(c)(d)</sup>  | 574 | 595 |
| Benchmark Mortgage Trust, Series 2018-B2, Class A5, 3.882% 2/15/2051 <sup>(c)(d)</sup>  | 305 | 303 |
| Benchmark Mortgage Trust, Series 2018-B3, Class AS, 4.195% 4/10/2051 <sup>(c)(d)</sup>  | 800 | 774 |
| Benchmark Mortgage Trust, Series 2018-B7, Class A4, 4.51% 5/15/2053 <sup>(c)(d)</sup>  | 145 | 146 |
| Benchmark Mortgage Trust, Series 2020-B19, Class A5, 1.85% 9/15/2053 <sup>(c)</sup>  | 351 | 312 |
| Benchmark Mortgage Trust, Series 2025-V14, Class AM, 6.09% 4/15/2057 <sup>(c)(d)</sup>  | 1105 | 1155 |
| Benchmark Mortgage Trust, Series 2024-V9, Class A3, 5.602% 8/15/2057 <sup>(c)</sup>  | 845 | 878 |
| Benchmark Mortgage Trust, Series 2024-V9, Class AS, 6.064% 8/15/2057 <sup>(c)(d)</sup>  | 50 | 52 |
| Benchmark Mortgage Trust, Series 2024-V10, Class A3, 5.277% 9/15/2057 <sup>(c)</sup>  | 53 | 55 |
| BLP Commercial Mortgage Trust, Series 2024-IND2, Class A, (1-month USD CME Term SOFR + 1.342%) <br> 5.092% 3/15/2041 <sup>(b)(c)(d)</sup>  | 896 | 898 |
| BMO Mortgage Trust, Series 2023-5C1, Class A3, 6.534% 8/15/2056 <sup>(c)(d)</sup>  | 89 | 93 |
| BMO Mortgage Trust, Series 2023-C6, Class A5, 5.956% 9/15/2056 <sup>(c)(d)</sup>  | 60 | 64 |
| BMO Mortgage Trust, Series 2024-5C3, Class AS, 6.256% 2/15/2057 <sup>(c)(d)</sup>  | 561 | 585 |
| BMO Mortgage Trust, Series 2024-5C5, Class AS, 6.364% 2/15/2057 <sup>(c)(d)</sup>  | 985 | 1033 |
| BMO Mortgage Trust, Series 2024-5C6, Class A3, 5.316% 9/15/2057 <sup>(c)</sup>  | 1784 | 1836 |
| BMO Mortgage Trust, Series 2024-5C8, Class AS, 5.94% 12/15/2057 <sup>(c)(d)</sup>  | 450 | 468 |
| BMO Mortgage Trust, Series 2025-5C9, Class A3, 5.779% 4/15/2058 <sup>(c)(d)</sup>  | 1380 | 1446 |
| Boca Commercial Mortgage Trust, Series 2025-BOCA, Class A, (1-month USD CME Term SOFR + 1.60%) <br> 5.45% 12/15/2042 <sup>(b)(c)(d)</sup>  | 4111 | 4123 |
| BX Commercial Mortgage Trust, Series 2024-GPA3, Class A, (1-month USD CME Term SOFR + 1.293%) <br> 5.044% 12/15/2039 <sup>(b)(c)(d)</sup>  | 1853 | 1856 |
| BX Trust, Series 2024-KING, Class A, (1-month USD CME Term SOFR + 1.541%) 5.291% 5/15/2034 <sup>(b)(c)(d)</sup>  | 655 | 656 |
| BX Trust, Series 2021-ACNT, Class A, (1-month USD CME Term SOFR + 0.964%) 4.715% 11/15/2038 <sup>(b)(c)(d)</sup>  | 390 | 390 |
| BX Trust, Series 2022-AHP, Class A, (1-month USD CME Term SOFR + 0.99%) 4.74% 1/17/2039 <sup>(b)(c)(d)</sup>  | 483 | 483 |
| BX Trust, Series 2024-CNYN, Class A, (1-month USD CME Term SOFR + 1.442%) 5.192% 4/15/2041 <sup>(b)(c)(d)</sup>  | 1579 | 1583 |
| BX Trust, Series 2024-BIO2, Class A, 5.413% 8/13/2041 <sup>(b)(c)(d)</sup>  | 3803 | 3859 |
| BX Trust, Series 2024-AIRC, Class A, (1-month USD CME Term SOFR + 1.691%) 5.442% 8/15/2039 <sup>(b)(c)(d)</sup>  | 2063 | 2070 |
| BX Trust, Series 2025-BIO3, Class A, 6.138% 2/10/2042 <sup>(b)(c)</sup>  | 3361 | 3454 |
| BX Trust, Series 2025-GW, Class A, (1-month USD CME Term SOFR + 1.60%) 5.35% 7/15/2042 <sup>(b)(c)(d)</sup>  | 4000 | 4014 |
| BX Trust, Series 2025-ARIA, Class A, 5.031% 12/13/2042 <sup>(b)(c)(d)</sup>  | 6000 | 6062 |
| BX Trust, Series 2025-VOLT, Class A, (1-month USD CME Term SOFR + 1.70%) 5.70% 12/15/2044 <sup>(b)(c)(d)</sup>  | 4521 | 4532 |
| BX Trust, Series 2025-VOLT, Class C, (1-month USD CME Term SOFR + 2.10%) 6.10% 12/15/2044 <sup>(b)(c)(d)</sup>  | 3997 | 4018 |
| BXP Trust, Series 2017-GM, Class A, 3.379% 6/13/2039 <sup>(b)(c)</sup>  | 887 | 871 |
| CALI Mortgage Trust, Series 24-SUN, Class A, (1-month USD CME Term SOFR + 1.89%) 5.641% <br> 7/15/2041 <sup>(b)(c)(d)</sup>  | 454 | 455 |
| CART, Series 2024-DFW1, Class A, (1-month USD CME Term SOFR + 1.642%) 5.392% 8/15/2041 <sup>(b)(c)(d)</sup>  | 983 | 983 |
| CD Commercial Mortgage Trust, Series 2017-CD6, Class A5, 3.456% 11/13/2050 <sup>(c)</sup>  | 375 | 370 |
| Citigroup Commercial Mortgage Trust, Series 2023-PRM3, Class A, 6.36% 7/10/2028 <sup>(b)(c)(d)</sup>  | 750 | 782 |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class A, 6.015% 10/12/2040 <sup>(b)(c)(d)</sup>  | 361 | 372 |
| Citigroup Commercial Mortgage Trust, Series 2016-GC36, Class A5, 3.616% 2/10/2049 <sup>(c)</sup>  | 401 | 399 |
| Citigroup Commercial Mortgage Trust, Series 2016-GC37, Class A4, 3.314% 4/10/2049 <sup>(c)</sup>  | 63 | 63 |
| CSAIL Commercial Mortgage Trust, Series 2017-CX10, Class A4, 3.191% 11/15/2050 <sup>(c)</sup>  | 68 | 67 |
| CSAIL Commercial Mortgage Trust, Series 2017-CX10, Class A5, 3.458% 11/15/2050 <sup>(c)(d)</sup>  | 1800 | 1756 |
| DC Commercial Mortgage Trust, Series 2023-DC, Class A, 6.314% 9/12/2040 <sup>(b)(c)</sup>  | 2490 | 2566 |
| Durst Commercial Mortgage Trust, Series 2025-151, Class A, 5.317% 8/10/2042 <sup>(b)(c)(d)</sup>  | 3062 | 3127 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **202** |

---

------

Capital Group Short Duration Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities (continued)** |  |  |
| Ellington Financial Mortgage Trust, Series 2025-NQM4, Class A1A, 4.972% 9/25/2070 (5.972% on <br> 8/1/2029) <sup>(a)(b)(c)</sup>  | USD<br> 5,501<br>| $5506 |
| ELM Trust 2024, Series 2024-ELM, Class A15, 5.994% 6/10/2039 <sup>(b)(c)(d)</sup>  | 1928 | 1939 |
| ELM Trust 2024, Series 2024-ELM, Class A10, 5.994% 6/10/2039 <sup>(b)(c)(d)</sup>  | 1752 | 1762 |
| Extended Stay America Trust, Series 2025-ESH, Class A, (1-month USD CME Term SOFR + 1.30%) 5.05% <br> 10/15/2042 <sup>(b)(c)(d)</sup>  | 2322 | 2329 |
| FirstKey Homes Trust, Series 2022-SFR2, Class A, 4.145% 5/19/2039 <sup>(b)(c)</sup>  | 480 | 480 |
| FIVE Mortgage Trust, Series 2023-V1, Class A3, 5.668% 2/10/2056 <sup>(c)(d)</sup>  | 1216 | 1247 |
| FS Commercial Trust, Series 2023-4SZN, Class A, 7.066% 11/10/2039 <sup>(b)(c)</sup>  | 808 | 823 |
| FS Trust, Series 2024-HULA, Class A, (1-month USD CME Term SOFR + 1.811%) 5.561% 8/15/2039 <sup>(b)(c)(d)</sup>  | 4000 | 4016 |
| Great Wolf Trust, Series 2024-WLF2, Class A, (1-month USD CME Term SOFR + 1.691%) 5.441% <br> 5/15/2041 <sup>(b)(c)(d)</sup>  | 1356 | 1361 |
| GS Mortgage Securities Trust, Series 2017-GS6, Class A3, 3.433% 5/10/2050 <sup>(c)</sup>  | 454 | 449 |
| Hawaii Hotel Trust, Series 2025-MAUI, Class A, (1-month USD CME Term SOFR + 1.393%) 5.143% <br> 3/15/2042 <sup>(b)(c)(d)</sup>  | 2419 | 2424 |
| Hawaii Hotel Trust, Series 2025-MAUI, Class D, (1-month USD CME Term SOFR + 2.591%) 6.341% <br> 3/15/2042 <sup>(b)(c)(d)</sup>  | 1358 | 1366 |
| HTL Commercial Mortgage Trust, Series 2024-T53, Class A, 5.876% 5/10/2039 <sup>(b)(c)(d)</sup>  | 591 | 599 |
| Hudson Yards Mortgage Trust, Series 2025-SPRL, Class A, 5.467% 1/13/2040 <sup>(b)(c)(d)</sup>  | 3625 | 3761 |
| INTOWN Mortgage Trust, Series 2025-STAY, Class A, (1-month USD CME Term SOFR + 1.35%) 5.10% <br> 3/15/2042 <sup>(b)(c)(d)</sup>  | 2995 | 3002 |
| LV Trust, Series 2024-SHOW, Class A, 5.104% 10/10/2041 <sup>(b)(c)(d)</sup>  | 2549 | 2590 |
| Manhattan West Mortgage Trust, Series 2020-1MW, Class A, 2.13% 9/10/2039 <sup>(b)(c)</sup>  | 857 | 825 |
| Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C22, Class AS, 3.561% 4/15/2048 <sup>(c)</sup>  | 500 | 485 |
| Morgan Stanley Bank of America Merrill Lynch Trust, Series 2025-5C1, Class AS, 6.011% 3/15/2058 <sup>(c)</sup>  | 1807 | 1879 |
| Multifamily Connecticut Avenue Securities, Series 2023-01, Class M7, (30-day Average USD-SOFR + 4.00%) <br> 7.874% 11/25/2053 <sup>(b)(c)(d)</sup>  | 202 | 208 |
| Multifamily Connecticut Avenue Securities, Series 2024-01, Class M7, (30-day Average USD-SOFR + 2.75%) <br> 6.624% 7/25/2054 <sup>(b)(c)(d)</sup>  | 524 | 532 |
| Multifamily Connecticut Avenue Securities, Series 2025-01, Class M1, (30-day Average USD-SOFR + 2.40%) <br> 6.274% 5/25/2055 <sup>(b)(c)(d)</sup>  | 1081 | 1087 |
| NYC Commercial Mortgage Trust, Series 2025-28L, Class A, 4.669% 11/5/2038 <sup>(b)(c)(d)</sup>  | 1913 | 1918 |
| NYC Commercial Mortgage Trust, Series 2025-28L, Class B, 5.007% 11/5/2038 <sup>(b)(c)(d)</sup>  | 1555 | 1560 |
| SCG Hotel Issuer, Inc., Series 2025-SNIP, Class A, 5.75% 9/15/2042 <sup>(b)(c)(d)</sup>  | 3428 | 3439 |
| SDR Commercial Mortgage Trust, Series 2024-DSNY, Class A, (1-month USD CME Term SOFR + 1.392%) <br> 5.142% 5/15/2039 <sup>(b)(c)(d)</sup>  | 708 | 708 |
| SDR Commercial Mortgage Trust, Series 2024-DSNY, Class B, (1-month USD CME Term SOFR + 1.741%) <br> 5.491% 5/15/2039 <sup>(b)(c)(d)</sup>  | 486 | 485 |
| SFO Commerical Mortgage Trust, Series 2021-555, Class A, (1-month USD CME Term SOFR + 1.264%) <br> 5.015% 5/15/2038 (1-month USD CME Term SOFR + 1.514% on 5/15/2026) <sup>(a)(b)(c)</sup>  | 1000 | 999 |
| SFO Commerical Mortgage Trust, Series 2021-555, Class B, (1-month USD CME Term SOFR + 1.614%) <br> 5.365% 5/15/2038 <sup>(b)(c)(d)</sup>  | 362 | 361 |
| SG Commercial Mortgage Securities Trust, Series 2016-C5, Class A3, 2.779% 10/10/2048 <sup>(c)</sup>  | 668 | 666 |
| StorageMart Commercial Mortgage Trust, Series 2022-MINI, Class A, (1-month USD CME Term SOFR + <br> 1.00%) 4.75% 1/15/2039 <sup>(b)(c)(d)</sup>  | 500 | 500 |
| SWCH Commercial Mortgage Trust, Series 2025-DATA, Class A, (1-month USD CME Term SOFR + 1.443%) <br> 5.193% 2/15/2042 <sup>(b)(c)(d)</sup>  | 4783 | 4746 |
| UBS Commercial Mortgage Trust, Series 2017-C2, Class A4, 3.487% 8/15/2050 <sup>(c)</sup>  | 300 | 297 |
| Wells Fargo Commercial Mortgage Trust, Series 2025-1918, Class A, 5.761% 9/15/2040 <sup>(b)(c)(d)</sup>  | 691 | 698 |
| Wells Fargo Commercial Mortgage Trust, Series 2017-C39, Class A5, 3.418% 9/15/2050 <sup>(c)</sup>  | 505 | 496 |
| Wells Fargo Commercial Mortgage Trust, Series 2024-5C1, Class AS, 6.52% 7/15/2057 <sup>(c)</sup>  | 40 | 42 |
| Wells Fargo Commercial Mortgage Trust, Series 2024-5C2, Class A3, 5.92% 11/15/2057 <sup>(c)(d)</sup>  | 225 | 237 |
| Wells Fargo Commercial Mortgage Trust, Series 2024-5C2, Class AS, 6.145% 11/15/2057 <sup>(c)(d)</sup>  | 358 | 376 |
| Wells Fargo Commercial Mortgage Trust, Series 2016-C33, Class A4, 3.426% 3/15/2059 <sup>(c)</sup>  | 291 | 290 |
| WMRK Commercial Mortgage Trust, Series 2022-WMRK, Class A, (1-month USD CME Term SOFR + 2.789%) <br> 6.539% 11/15/2027 <sup>(b)(c)(d)</sup>  | 180 | 182 |
| WSTN Trust, Series 2023-MAUI, Class B, 7.018% 7/5/2037 <sup>(b)(c)(d)</sup>  | 173 | 176 |
| WSTN Trust, Series 2023-MAUI, Class C, 7.69% 7/5/2037 <sup>(b)(c)(d)</sup>  | 100 | 102 |
|  |  | 134913 |
| **Total mortgage-backed obligations** |  | 608807 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **203** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Short Duration Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations 24.09%** | **Asset-backed obligations 24.09%** | **Asset-backed obligations 24.09%** |
| **Auto loan 10.42%** |  |  |
| American Credit Acceptance Receivables Trust, Series 2024-2, Class B, 6.10% 12/13/2027 <sup>(b)(c)</sup>  | USD<br> 135<br>| $135 |
| American Credit Acceptance Receivables Trust, Series 2024-3, Class B, 5.66% 8/14/2028 <sup>(b)(c)</sup>  | 1781 | 1785 |
| American Credit Acceptance Receivables Trust, Series 2024-4, Class B, 4.80% 11/13/2028 <sup>(b)(c)</sup>  | 250 | 250 |
| American Credit Acceptance Receivables Trust, Series 2025-2, Class B, 4.85% 5/14/2029 <sup>(b)(c)</sup>  | 1042 | 1049 |
| American Credit Acceptance Receivables Trust, Series 2024-1, Class C, 5.63% 1/14/2030 <sup>(b)(c)</sup>  | 623 | 626 |
| American Credit Acceptance Receivables Trust, Series 2024-2, Class D, 6.53% 4/12/2030 <sup>(b)(c)</sup>  | 1820 | 1859 |
| American Credit Acceptance Receivables Trust, Series 2025-2, Class C, 5.11% 3/12/2031 <sup>(b)(c)</sup>  | 1759 | 1777 |
| American Credit Acceptance Receivables Trust, Series 2024-4, Class C, 4.91% 8/12/2031 <sup>(b)(c)</sup>  | 187 | 188 |
| American Credit Acceptance Receivables Trust, Series 2024-4, Class D, 5.34% 8/12/2031 <sup>(b)(c)</sup>  | 1431 | 1447 |
| Arivo Acceptance Auto Loan Receivables Trust, Series 2025-1A, Class A2, 4.92% 5/15/2029 <sup>(b)(c)</sup>  | 347 | 347 |
| Arivo Acceptance Auto Loan Receivables Trust, Series 2025-1A, Class B, 5.11% 11/17/2031 <sup>(b)(c)</sup>  | 311 | 311 |
| Arivo Acceptance Auto Loan Receivables Trust, Series 2025-1A, Class C, 5.42% 12/15/2031 <sup>(b)(c)</sup>  | 384 | 385 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2, Class A, 2.02% 2/20/2027 <sup>(b)(c)</sup>  | 117 | 116 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2022-5, Class A, 6.12% 4/20/2027 <sup>(b)(c)</sup>  | 79 | 79 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2022-5, Class C, 6.24% 4/20/2027 <sup>(b)(c)</sup>  | 333 | 334 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-2, Class B, 6.03% 10/20/2027 <sup>(b)(c)</sup>  | 290 | 293 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-2, Class C, 6.18% 10/20/2027 <sup>(b)(c)</sup>  | 1000 | 1008 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-5, Class A, 5.78% 4/20/2028 <sup>(b)(c)</sup>  | 259 | 264 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-4A, Class D, 7.31% 6/20/2029 <sup>(b)(c)</sup>  | 289 | 297 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2025-1A, Class A, 4.80% 8/20/2029 <sup>(b)(c)</sup>  | 627 | 638 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-8A, Class D, 7.52% 2/20/2030 <sup>(b)(c)</sup>  | 770 | 792 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2024-1, Class A, 5.36% 6/20/2030 <sup>(b)(c)</sup>  | 700 | 723 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2025-2A, Class A, 5.12% 8/20/2031 <sup>(b)(c)</sup>  | 2919 | 2997 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-2, Class A3, 5.84% 6/15/2028 <sup>(c)</sup>  | 691 | 693 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-1, Class B, 5.43% 8/15/2028 <sup>(c)</sup>  | 197 | 198 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-1, Class C, 5.65% 4/16/2029 <sup>(c)</sup>  | 370 | 374 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-2, Class B, 5.94% 2/15/2030 <sup>(c)</sup>  | 2000 | 2017 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-3, Class D, 5.83% 5/15/2030 <sup>(c)</sup>  | 1441 | 1473 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-4, Class B, 4.77% 8/15/2030 <sup>(c)</sup>  | 787 | 791 |
| Bridgecrest Lending Auto Securitization Trust, Series 2025-3, Class C, 5.11% 5/15/2031 <sup>(c)</sup>  | 3000 | 3022 |
| Bridgecrest Lending Auto Securitization Trust, Series 2025-3, Class D, 5.49% 5/15/2031 <sup>(c)</sup>  | 3000 | 3025 |
| Carvana Auto Receivables Trust, Series 2023-P3, Class A3, 5.82% 8/10/2028 <sup>(b)(c)</sup>  | 102 | 102 |
| Chesapeake Funding II, LLC, Series 2023-2, Class A1, 6.16% 10/15/2035 <sup>(b)(c)</sup>  | 185 | 187 |
| Citizens Auto Receivables Trust, Series 2023-2, Class A3, 5.83% 2/15/2028 <sup>(b)(c)</sup>  | 306 | 308 |
| Citizens Auto Receivables Trust, Series 2023-2, Class A4, 5.74% 10/15/2030 <sup>(b)(c)</sup>  | 680 | 693 |
| Consumer Portfolio Services Auto Trust, Series 2025-B, Class B, 4.79% 11/15/2029 <sup>(b)(c)</sup>  | 1929 | 1939 |
| Consumer Portfolio Services Auto Trust, Series 2025-B, Class C, 5.12% 7/15/2031 <sup>(b)(c)</sup>  | 2629 | 2654 |
| CPS Auto Receivables Trust, Series 2024-A, Class B, 5.65% 5/15/2028 <sup>(b)(c)</sup>  | 51 | 51 |
| CPS Auto Receivables Trust, Series 2024-B, Class B, 6.04% 10/16/2028 <sup>(b)(c)</sup>  | 1932 | 1940 |
| CPS Auto Receivables Trust, Series 2023-A, Class C, 5.54% 4/16/2029 <sup>(b)(c)</sup>  | 244 | 244 |
| CPS Auto Receivables Trust, Series 2023-C, Class C, 6.27% 10/15/2029 <sup>(b)(c)</sup>  | 399 | 401 |
| CPS Auto Receivables Trust, Series 2024-A, Class C, 5.74% 4/15/2030 <sup>(b)(c)</sup>  | 118 | 119 |
| CPS Auto Receivables Trust, Series 2024-A, Class D, 6.13% 4/15/2030 <sup>(b)(c)</sup>  | 100 | 102 |
| CPS Auto Receivables Trust, Series 2024-B, Class C, 6.28% 7/15/2030 <sup>(b)(c)</sup>  | 2000 | 2034 |
| CPS Auto Trust, Series 2025-D, Class B, 4.48% 4/15/2030 <sup>(b)(c)</sup>  | 823 | 824 |
| CPS Auto Trust, Series 2025-D, Class C, 4.85% 2/17/2032 <sup>(b)(c)</sup>  | 1423 | 1431 |
| Credit Acceptance Auto Loan Trust, Series 2025-2A, Class A, 4.50% 11/15/2035 <sup>(b)(c)</sup>  | 2744 | 2756 |
| Credit Acceptance Auto Loan Trust, Series 2025-2A, Class B, 4.87% 1/15/2036 <sup>(b)(c)</sup>  | 1513 | 1530 |
| Credit Acceptance Auto Loan Trust, Series 2025-2A, Class C, 5.38% 3/17/2036 <sup>(b)(c)</sup>  | 292 | 297 |
| Drive Auto Receivables Trust, Series 2024-1, Class B, 5.31% 1/16/2029 <sup>(c)</sup>  | 390 | 392 |
| Drive Auto Receivables Trust, Series 2024-2, Class B, 4.52% 7/16/2029 <sup>(c)</sup>  | 1114 | 1119 |
| Drive Auto Receivables Trust, Series 2024-1, Class C, 5.43% 11/17/2031 <sup>(c)</sup>  | 723 | 733 |
| Drive Auto Receivables Trust, Series 2024-2, Class C, 4.67% 5/17/2032 <sup>(c)</sup>  | 1090 | 1097 |
| Drive Auto Receivables Trust, Series 2025-1, Class B, 4.79% 9/15/2032 <sup>(c)</sup>  | 1849 | 1865 |
| Drive Auto Receivables Trust, Series 2025-1, Class C, 4.99% 9/15/2032 <sup>(c)</sup>  | 497 | 504 |
| DriveTime Auto Owner Trust, Series 2023-1, Class C, 5.55% 10/16/2028 <sup>(b)(c)</sup>  | 414 | 415 |
| Enterprise Fleet Financing, LLC, Series 2024-1, Class A3, 5.16% 9/20/2030 <sup>(b)(c)</sup>  | 380 | 387 |
| Exeter Automobile Receivables Trust, Series 2023-1A, Class C, 5.82% 2/15/2028 <sup>(c)</sup>  | 28 | 28 |
| Exeter Automobile Receivables Trust, Series 2022-6, Class C, 6.32% 5/15/2028 <sup>(c)</sup>  | 63 | 63 |
| Exeter Automobile Receivables Trust, Series 2024-1, Class B, 5.29% 8/15/2028 <sup>(c)</sup>  | 284 | 284 |
| Exeter Automobile Receivables Trust, Series 2023-4A, Class C, 6.51% 8/15/2028 <sup>(c)</sup>  | 513 | 516 |
| Exeter Automobile Receivables Trust, Series 2023-1A, Class D, 6.69% 6/15/2029 <sup>(c)</sup>  | 240 | 244 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **204** |

---

------

Capital Group Short Duration Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| **Auto loan (continued)** |  |  |
| Exeter Automobile Receivables Trust, Series 2024-1, Class C, 5.41% 5/15/2030 <sup>(c)</sup>  | USD<br> 355<br>| $359 |
| Exeter Automobile Receivables Trust, Series 2024-1, Class D, 5.84% 6/17/2030 <sup>(c)</sup>  | 574 | 584 |
| Exeter Automobile Receivables Trust, Series 2025-5A, Class B, 4.28% 7/15/2030 <sup>(c)</sup>  | 420 | 421 |
| Exeter Automobile Receivables Trust, Series 2024-4A, Class B, 5.29% 8/15/2030 <sup>(c)</sup>  | 1210 | 1215 |
| Exeter Automobile Receivables Trust, Series 2024-4A, Class C, 5.48% 8/15/2030 <sup>(c)</sup>  | 423 | 428 |
| Exeter Automobile Receivables Trust, Series 2025-5A, Class C, 4.68% 3/15/2032 <sup>(c)</sup>  | 615 | 617 |
| Exeter Automobile Receivables Trust, Series 2025-5A, Class D, 5.16% 3/15/2032 <sup>(c)</sup>  | 665 | 670 |
| Exeter Select Automobile Receivables Trust, Series 2025-1, Class A2, 4.83% 10/16/2028 <sup>(c)</sup>  | 740 | 742 |
| Exeter Select Automobile Receivables Trust, Series 2025-3, Class B, 4.42% 3/15/2032 <sup>(c)</sup>  | 1682 | 1683 |
| Exeter Select Automobile Receivables Trust, Series 2025-3, Class C, 5.00% 3/15/2032 <sup>(c)</sup>  | 3000 | 3033 |
| First Investors Auto Owner Trust, Series 2025-1A, Class A3, 4.25% 7/15/2030 <sup>(b)(c)</sup>  | 716 | 720 |
| First Investors Auto Owner Trust, Series 2025-1A, Class B, 4.39% 1/15/2031 <sup>(b)(c)</sup>  | 1013 | 1016 |
| Ford Credit Auto Lease Trust, Series 2024-A, Class A3, 5.06% 5/15/2027 <sup>(c)</sup>  | 282 | 282 |
| Ford Credit Auto Lease Trust, Series 2024-A, Class A4, 5.05% 6/15/2027 <sup>(c)</sup>  | 175 | 176 |
| Ford Credit Floorplan Master Owner Trust, Series 2025-1, Class A1, 4.63% 4/15/2030 <sup>(c)</sup>  | 2077 | 2114 |
| GLS Auto Receivables Trust, Series 2023-3, Class B, 5.89% 1/18/2028 <sup>(b)(c)</sup>  | 186 | 186 |
| GLS Auto Receivables Trust, Series 2024-2, Class B, 5.77% 11/15/2028 <sup>(b)(c)</sup>  | 537 | 541 |
| GLS Auto Receivables Trust, Series 2023-3, Class C, 6.01% 5/15/2029 <sup>(b)(c)</sup>  | 151 | 152 |
| GLS Auto Receivables Trust, Series 2025-1A, Class B, 4.98% 7/16/2029 <sup>(b)(c)</sup>  | 1083 | 1094 |
| GLS Auto Receivables Trust, Series 2025-2A, Class B, 4.97% 10/15/2029 <sup>(b)(c)</sup>  | 2652 | 2678 |
| GLS Auto Receivables Trust, Series 2024-1, Class C, 5.64% 12/17/2029 <sup>(b)(c)</sup>  | 1303 | 1318 |
| GLS Auto Receivables Trust, Series 2024-1, Class D, 5.95% 12/17/2029 <sup>(b)(c)</sup>  | 837 | 852 |
| GLS Auto Receivables Trust, Series 2025-3A, Class B, 4.57% 1/15/2030 <sup>(b)(c)</sup>  | 1307 | 1313 |
| GLS Auto Receivables Trust, Series 2024-2, Class C, 6.03% 2/15/2030 <sup>(b)(c)</sup>  | 746 | 761 |
| GLS Auto Receivables Trust, Series 2025-4A, Class B, 4.53% 4/15/2030 <sup>(b)(c)</sup>  | 1678 | 1686 |
| GLS Auto Receivables Trust, Series 2025-1A, Class C, 5.07% 11/15/2030 <sup>(b)(c)</sup>  | 3000 | 3032 |
| GLS Auto Receivables Trust, Series 2025-1A, Class D, 5.61% 11/15/2030 <sup>(b)(c)</sup>  | 3000 | 3045 |
| GLS Auto Receivables Trust, Series 2025-4A, Class C, 4.74% 8/15/2031 <sup>(b)(c)</sup>  | 2374 | 2389 |
| GLS Auto Receivables Trust, Series 2025-4A, Class D, 5.13% 8/15/2031 <sup>(b)(c)</sup>  | 2748 | 2772 |
| GLS Auto Select Receivables Trust, Series 2025-4A, Class A2, 4.17% 2/18/2031 <sup>(b)(c)</sup>  | 3179 | 3190 |
| GLS Auto Select Receivables Trust, Series 2025-1A, Class C, 5.26% 3/15/2031 <sup>(b)(c)</sup>  | 220 | 225 |
| GM Financial Revolving Receivables Trust, Series 2023-2, Class A, 5.77% 8/11/2036 <sup>(b)(c)</sup>  | 773 | 812 |
| GM Financial Revolving Receivables Trust, Series 2024-2, Class A, 4.52% 3/11/2037 <sup>(b)(c)</sup>  | 1888 | 1921 |
| GM Financial Securitized Term Auto Receivables Trust, Series 2024-1, Class A3, 4.85% 12/18/2028 <sup>(c)</sup>  | 366 | 368 |
| GM Financial Securitized Term Auto Receivables Trust, Series 2024-1, Class A4, 4.86% 6/18/2029 <sup>(c)</sup>  | 624 | 634 |
| Hertz Vehicle Financing III, LLC, Series 2023-1, Class A, 5.49% 6/25/2027 <sup>(b)(c)</sup>  | 1113 | 1117 |
| Hertz Vehicle Financing III, LLC, Series 2023-1, Class 1D, 9.13% 6/25/2027 <sup>(b)(c)</sup>  | 250 | 252 |
| Hertz Vehicle Financing III, LLC, Series 2022-2, Class D, 5.16% 6/26/2028 <sup>(b)(c)</sup>  | 250 | 245 |
| Hertz Vehicle Financing, LLC, Series 2023-1A, Class B, 6.22% 6/25/2027 <sup>(b)(c)</sup>  | 2920 | 2932 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class A, 1.68% 12/27/2027 <sup>(b)(c)</sup>  | 502 | 493 |
| Hertz Vehicle Financing, LLC, Series 2023-3A, Class A, 5.94% 2/25/2028 <sup>(b)(c)</sup>  | 281 | 285 |
| Hertz Vehicle Financing, LLC, Series 2024-1A, Class A, 5.44% 1/25/2029 <sup>(b)(c)</sup>  | 1449 | 1481 |
| Hertz Vehicle Financing, LLC, Series 2024-1A, Class D, 9.22% 1/25/2029 <sup>(b)(c)</sup>  | 349 | 361 |
| Hertz Vehicle Financing, LLC, Series 2025-1A, Class A, 4.91% 9/25/2029 <sup>(b)(c)</sup>  | 1616 | 1637 |
| Hertz Vehicle Financing, LLC, Series 2025-1A, Class B, 5.45% 9/25/2029 <sup>(b)(c)</sup>  | 3709 | 3766 |
| Hertz Vehicle Financing, LLC, Series 2025-3A, Class A, 5.06% 12/26/2029 <sup>(b)(c)</sup>  | 2999 | 3041 |
| Hertz Vehicle Financing, LLC, Series 2025-3A, Class B, 5.59% 12/26/2029 <sup>(b)(c)</sup>  | 1610 | 1638 |
| Hertz Vehicle Financing, LLC, Series 2025-3A, Class C, 6.13% 12/26/2029 <sup>(b)(c)</sup>  | 1643 | 1671 |
| Hertz Vehicle Financing, LLC, Series 2025-4A, Class A, 5.41% 12/26/2031 <sup>(b)(c)</sup>  | 2000 | 2059 |
| Huntington National Bank (The), Series 2025-1, Class B, 4.957% 3/21/2033 <sup>(b)(c)</sup>  | 3633 | 3666 |
| Hyundai Auto Lease Securitization Trust, Series 2024-A, Class A3, 5.02% 3/15/2027 <sup>(b)(c)</sup>  | 565 | 566 |
| Hyundai Auto Lease Securitization Trust, Series 2024-A, Class A4, 5.07% 2/15/2028 <sup>(b)(c)</sup>  | 267 | 268 |
| Hyundai Floorplan Master Owner Trust, Series 2025-1A, Class A, 4.01% 10/15/2030 <sup>(b)(c)</sup>  | 3113 | 3117 |
| LAD Auto Receivables Trust, Series 2023-1, Class C, 6.18% 12/15/2027 <sup>(b)(c)</sup>  | 273 | 274 |
| LAD Auto Receivables Trust, Series 2024-1, Class A3, 5.23% 1/18/2028 <sup>(b)(c)</sup>  | 98 | 98 |
| LAD Auto Receivables Trust, Series 2023-3, Class A4, 5.95% 3/15/2028 <sup>(b)(c)</sup>  | 232 | 233 |
| LAD Auto Receivables Trust, Series 2023-3, Class B, 6.09% 6/15/2028 <sup>(b)(c)</sup>  | 721 | 728 |
| LAD Auto Receivables Trust, Series 2023-3, Class C, 6.43% 12/15/2028 <sup>(b)(c)</sup>  | 608 | 620 |
| LAD Auto Receivables Trust, Series 2024-1, Class B, 5.33% 2/15/2029 <sup>(b)(c)</sup>  | 367 | 372 |
| LAD Auto Receivables Trust, Series 2024-1, Class C, 5.64% 6/15/2029 <sup>(b)(c)</sup>  | 444 | 454 |
| LAD Auto Receivables Trust, Series 2024-2, Class A4, 5.46% 7/16/2029 <sup>(b)(c)</sup>  | 507 | 515 |
| LAD Auto Receivables Trust, Series 2024-3A, Class B, 4.74% 1/15/2030 <sup>(b)(c)</sup>  | 410 | 415 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **205** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Short Duration Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| **Auto loan (continued)** |  |  |
| LAD Auto Receivables Trust, Series 2024-3A, Class C, 4.93% 3/15/2030 <sup>(b)(c)</sup>  | USD<br> 148<br>| $150 |
| LAD Auto Receivables Trust, Series 2024-2, Class D, 6.37% 10/15/2031 <sup>(b)(c)</sup>  | 175 | 181 |
| Mercedes-Benz Auto Lease Trust, Series 2024-A, Class A3, 5.32% 1/18/2028 <sup>(c)</sup>  | 2385 | 2409 |
| Mercedes-Benz Auto Receivables Trust, Series 2024-1, Class A3, 4.80% 4/16/2029 <sup>(c)</sup>  | 1252 | 1261 |
| Mercedes-Benz Auto Receivables Trust, Series 2024-1, Class A4, 4.79% 7/15/2031 <sup>(c)</sup>  | 857 | 873 |
| PenFed Auto Receivables Owner Trust, Series 2025-A, Class A3, 4.03% 7/15/2030 <sup>(b)(c)</sup>  | 722 | 724 |
| Porsche Innovative Lease Owner Trust, Series 2024-1, Class A3, 4.67% 11/22/2027 <sup>(b)(c)</sup>  | 1833 | 1841 |
| Prestige Auto Receivables Trust, Series 2024-1, Class B, 5.71% 5/15/2028 <sup>(b)(c)</sup>  | 154 | 154 |
| Prestige Auto Receivables Trust, Series 2024-1, Class D, 6.21% 2/15/2030 <sup>(b)(c)</sup>  | 422 | 425 |
| Santander Drive Auto Receivables Trust, Series 2022-7, Class B, 5.95% 1/17/2028 <sup>(c)</sup>  | 4 | 4 |
| Santander Drive Auto Receivables Trust, Series 2024-1, Class A3, 5.25% 4/17/2028 <sup>(c)</sup>  | 17 | 17 |
| Santander Drive Auto Receivables Trust, Series 2023-6, Class A3, 5.93% 7/17/2028 <sup>(c)</sup>  | 123 | 124 |
| Santander Drive Auto Receivables Trust, Series 2024-1, Class B, 5.23% 12/15/2028 <sup>(c)</sup>  | 558 | 561 |
| Santander Drive Auto Receivables Trust, Series 2024-2, Class B, 5.78% 7/16/2029 <sup>(c)</sup>  | 1517 | 1536 |
| Santander Drive Auto Receivables Trust, Series 2024-4, Class B, 4.93% 9/17/2029 <sup>(c)</sup>  | 900 | 907 |
| Santander Drive Auto Receivables Trust, Series 2024-1, Class C, 5.45% 3/15/2030 <sup>(c)</sup>  | 124 | 126 |
| Santander Drive Auto Receivables Trust, Series 2025-4, Class B, 4.27% 1/15/2032 <sup>(c)</sup>  | 3491 | 3500 |
| Santander Drive Auto Receivables Trust, Series 2025-4, Class C, 4.52% 1/15/2032 <sup>(c)</sup>  | 3988 | 4001 |
| SBNA Auto Lease Trust, Series 2024-C, Class A3, 4.56% 2/22/2028 <sup>(b)(c)</sup>  | 768 | 770 |
| Securitized Term Auto Receivables Trust, Series 2025-A, Class B, 5.038% 7/25/2031 <sup>(b)(c)</sup>  | 256 | 259 |
| Securitized Term Auto Receivables Trust, Series 2025-A, Class C, 5.185% 7/25/2031 <sup>(b)(c)</sup>  | 820 | 828 |
| SFS Auto Receivables Securitization Trust, Series 2024-3A, Class B, 4.76% 11/20/2031 <sup>(b)(c)</sup>  | 1846 | 1871 |
| Space Coast Credit Union, Series 2025-1A, Class A2, 4.67% 11/15/2028 <sup>(b)(c)</sup>  | 3788 | 3799 |
| Space Coast Credit Union, Series 2024-1, Class A3, 5.11% 6/15/2029 <sup>(b)(c)</sup>  | 1058 | 1065 |
| Toyota Auto Receivables Owner Trust, Series 2024-A, Class A3, 4.83% 10/16/2028 <sup>(c)</sup>  | 1072 | 1079 |
| Toyota Auto Receivables Owner Trust, Series 2024-A, Class A4, 4.77% 4/16/2029 <sup>(c)</sup>  | 659 | 670 |
| Tricolor Auto Securitization Trust, Series 2025-1A, Class A, 4.94% 2/15/2029 <sup>(b)(c)(f)</sup>  | 3596 | 2153 |
| Truist Bank Auto Credit-Linked Notes, Series 2025-1, Class B, 4.728% 9/26/2033 <sup>(b)(c)</sup>  | 6477 | 6490 |
| United Auto Credit Securitization Trust, Series 2025-1, Class B, 5.05% 2/10/2028 <sup>(b)(c)</sup>  | 2419 | 2424 |
| United Auto Credit Securitization Trust, Series 2024-1, Class C, 7.06% 10/10/2029 <sup>(b)(c)</sup>  | 1009 | 1012 |
| VStrong Auto Receivables Trust, Series 2024-A, Class A3, 5.62% 12/15/2028 <sup>(b)(c)</sup>  | 144 | 144 |
| Western Funding Auto Loan Trust, Series 2025-1, Class A, 4.75% 7/16/2035 <sup>(b)(c)</sup>  | 1947 | 1965 |
| Western Funding Auto Loan Trust, Series 2025-1, Class B, 4.98% 9/17/2035 <sup>(b)(c)</sup>  | 1019 | 1030 |
| Westlake Automobile Receivables Trust, Series 2024-1, Class A3, 5.44% 5/17/2027 <sup>(b)(c)</sup>  | 90 | 90 |
| Westlake Automobile Receivables Trust, Series 2024-1, Class B, 5.55% 11/15/2027 <sup>(b)(c)</sup>  | 748 | 751 |
| Westlake Automobile Receivables Trust, Series 2023-1, Class C, 5.74% 8/15/2028 <sup>(b)(c)</sup>  | 330 | 332 |
| Westlake Automobile Receivables Trust, Series 2023-3, Class C, 6.02% 9/15/2028 <sup>(b)(c)</sup>  | 597 | 603 |
| Westlake Automobile Receivables Trust, Series 2024-1, Class C, 5.65% 2/15/2029 <sup>(b)(c)</sup>  | 523 | 529 |
| Westlake Automobile Receivables Trust, Series 2024-1, Class D, 6.02% 10/15/2029 <sup>(b)(c)</sup>  | 703 | 721 |
| Westlake Automobile Receivables Trust, Series 2025-2A, Class B, 4.63% 1/15/2031 <sup>(b)(c)</sup>  | 1176 | 1183 |
| Westlake Automobile Receivables Trust, Series 2025-2A, Class C, 4.85% 1/15/2031 <sup>(b)(c)</sup>  | 1945 | 1959 |
| Westlake Automobile Receivables Trust, Series 2025-2A, Class D, 5.08% 5/15/2031 <sup>(b)(c)</sup>  | 3000 | 3026 |
| Westlake Automobile Receivables Trust, Series 2025-3A, Class B, 4.28% 7/15/2031 <sup>(b)(c)</sup>  | 1797 | 1803 |
| Westlake Automobile Receivables Trust, Series 2025-3A, Class C, 4.68% 7/15/2031 <sup>(b)(c)</sup>  | 1738 | 1744 |
| Westlake Flooring Master Trust, Series 2024-1, Class A, 5.43% 2/15/2028 <sup>(b)(c)</sup>  | 536 | 537 |
| Westlake Flooring Master Trust, Series 2025-1A, Class A, 4.23% 10/15/2029 <sup>(b)(c)</sup>  | 4669 | 4679 |
| Wheels Fleet Lease Funding, LLC, Series 24-2A, Class A1, 4.87% 6/21/2039 <sup>(b)(c)</sup>  | 1703 | 1720 |
| Wheels Fleet Lease Funding, LLC, Series 2024-3A, Class A1, 4.80% 9/19/2039 <sup>(b)(c)</sup>  | 1199 | 1212 |
|  |  | 195127 |
| **Other asset-backed securities 9.91%** |  |  |
| ACHV ABS Trust, Series 2024-2PL, Class A, 5.07% 10/27/2031 <sup>(b)(c)</sup>  | 522 | 525 |
| ACHV ABS Trust, Series 2025-1PL, Class B, 5.04% 4/26/2032 <sup>(b)(c)</sup>  | 2199 | 2210 |
| ACHV ABS Trust, Series 2025-1PL, Class C, 5.31% 4/26/2032 <sup>(b)(c)</sup>  | 2606 | 2619 |
| Affirm Asset Securitization Trust, Series 2025-X2, Class A, 4.45% 10/15/2030 <sup>(b)(c)</sup>  | 1690 | 1696 |
| Affirm Asset Securitization Trust, Series 2025-X2, Class B, 4.56% 10/15/2030 <sup>(b)(c)</sup>  | 1594 | 1601 |
| Affirm Master Trust, Series 2025-3A, Class A, 4.45% 10/16/2034 <sup>(b)(c)</sup>  | 2835 | 2847 |
| Affirm, Inc., Series 2024, Class 1A, 5.61% 2/15/2029 <sup>(b)(c)</sup>  | 3000 | 3005 |
| Affirm, Inc., Series 2024-A, Class A, 5.61% 2/15/2029 <sup>(b)(c)</sup>  | 1046 | 1048 |
| Affirm, Inc., Series 2024-X2, Class A, 5.22% 12/17/2029 <sup>(b)(c)</sup>  | 71 | 71 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **206** |

---

------

Capital Group Short Duration Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| **Other asset-backed securities (continued)** |  |  |
| Affirm, Inc., Series 2025-X1, Class A, 5.08% 4/15/2030 <sup>(b)(c)</sup>  | USD<br> 1,780<br>| $1783 |
| Ansley Park Capital, LLC, Series 2025-A, Class A2, 4.43% 4/20/2035 <sup>(b)(c)</sup>  | 3260 | 3271 |
| APL Finance, LLC, Series 2025-1A, Class A, 4.81% 3/20/2036 <sup>(b)(c)</sup>  | 2021 | 2030 |
| Apollo Aviation Securitization Equity Trust, Series 2025-3A, Class A, 5.243% 2/16/2050 <sup>(b)(c)</sup>  | 4785 | 4805 |
| Apollo Aviation Securitization Equity Trust, Series 2025-2A, Class A, 5.522% 2/16/2050 <sup>(b)(c)</sup>  | 2663 | 2684 |
| Apollo Aviation Securitization Equity Trust, Series 25-1A, Class A, 5.943% 2/16/2050 <sup>(b)(c)</sup>  | 1488 | 1520 |
| Auxilior Term Funding, LLC, Series 24-1, Class A2, 5.84% 3/15/2027 <sup>(b)(c)</sup>  | 248 | 249 |
| Bankers Healthcare Group Securitization Trust, Series 2021-A, Class A, 1.42% 11/17/2033 <sup>(b)(c)</sup>  | 106 | 105 |
| Blue Owl Asset Leasing Trust, Series 2024-1A, Class B, 5.41% 3/15/2030 <sup>(b)(c)</sup>  | 190 | 192 |
| Blue Owl Asset Leasing Trust, Series 2024-1A, Class C, 6.38% 1/15/2031 <sup>(b)(c)</sup>  | 139 | 142 |
| Capteris Equipment Finance, Series 2024-1, Class A2, 5.58% 7/20/2032 <sup>(b)(c)</sup>  | 2231 | 2273 |
| Castlelake Aircraft Securitization Trust, Series 2025-1A, Class A, 5.783% 2/15/2050 <sup>(b)(c)</sup>  | 2217 | 2256 |
| Castlelake Aircraft Securitization Trust, Series 2025-3A, Class A, 5.087% 11/15/2050 <sup>(b)(c)</sup>  | 5873 | 5900 |
| CF Hippolyta, LLC, Series 2020-1, Class A1, 1.69% 7/15/2060 <sup>(b)(c)</sup>  | 1333 | 1133 |
| CF Hippolyta, LLC, Series 2021-1, Class A1, 1.53% 3/15/2061 <sup>(b)(c)</sup>  | 1529 | 1243 |
| CFG Investments, Ltd., Series 2025-1, Class A, 6.47% 3/25/2036 <sup>(b)(c)</sup>  | 1489 | 1515 |
| CLI Funding VI, LLC, Series 2020-2A, Class A, 2.03% 9/15/2045 <sup>(b)(c)</sup>  | 281 | 266 |
| CLI Funding VIII, LLC, Series 2022-1, Class A, 2.72% 1/18/2047 <sup>(b)(c)</sup>  | 1450 | 1352 |
| Commercial Equipment Finance, Series 2024-1, Class A, 5.97% 7/16/2029 <sup>(b)(c)</sup>  | 410 | 415 |
| Commercial Equipment Finance, Series 2025-1A, Class A, 4.83% 5/15/2031 <sup>(b)(c)</sup>  | 2487 | 2499 |
| Crockett Partners Equipment Co. II, LLC, Series 2024-1C, Class A, 6.05% 1/20/2031 <sup>(b)(c)</sup>  | 1942 | 1978 |
| Crossroads Asset Trust, Series 2024-A, Class A2, 5.90% 8/20/2030 <sup>(b)(c)</sup>  | 573 | 579 |
| Daimler Trucks Retail Trust, Series 2024-1, Class A4, 5.56% 7/15/2031 <sup>(c)</sup>  | 1452 | 1479 |
| Dell Equipment Finance Trust, Series 2024-2, Class B, 4.82% 8/22/2030 <sup>(b)(c)</sup>  | 1992 | 2012 |
| Dext ABS, LLC, Series 2025-2, Class A3, 4.23% 4/15/2036 <sup>(b)(c)</sup>  | 3609 | 3614 |
| Dext ABS, LLC, Series 2025-2, Class B, 4.66% 4/15/2036 <sup>(b)(c)</sup>  | 2800 | 2804 |
| DLLAD, LLC, Series 2024-1, Class A2, 5.50% 8/20/2027 <sup>(b)(c)</sup>  | 387 | 389 |
| DLLAD, LLC, Series 2024-1, Class A3, 5.30% 7/20/2029 <sup>(b)(c)</sup>  | 491 | 502 |
| EquipmentShare, Series 2024-2M, Class A, 5.70% 12/20/2032 <sup>(b)(c)</sup>  | 2032 | 2064 |
| Frontier Issuer, LLC, Series 2023-1, Class A2, 6.60% 8/20/2053 <sup>(b)(c)</sup>  | 3515 | 3548 |
| Global SC Finance VII SRL, Series 2020-2A, Class A, 2.26% 11/19/2040 <sup>(b)(c)</sup>  | 294 | 283 |
| Global SC Finance VII SRL, Series 2021-2A, Class A, 1.95% 8/17/2041 <sup>(b)(c)</sup>  | 689 | 649 |
| GreatAmerica Leasing Receivables Funding, LLC, Series 2025-1, Class A3, 4.49% 4/16/2029 <sup>(b)(c)</sup>  | 1805 | 1828 |
| GreatAmerica Leasing Receivables Funding, LLC, Series 2025-2, Class B, 4.50% 9/15/2032 <sup>(b)(c)</sup>  | 2028 | 2048 |
| HPEFS Equipment Trust, Series 2025-2A, Class B, 4.21% 11/22/2032 <sup>(b)(c)</sup>  | 490 | 491 |
| John Deere Owner Trust, Series 2024-A, Class A3, 4.96% 11/15/2028 <sup>(c)</sup>  | 923 | 931 |
| M&T Equipment Notes, Series 2024-1, Class A3, 4.76% 8/18/2031 <sup>(b)(c)</sup>  | 2289 | 2319 |
| Merchants Fleet Funding, LLC, Series 2024-1, Class A, 5.82% 4/20/2037 <sup>(b)(c)</sup>  | 1685 | 1696 |
| Mercury Financial Credit Card Master Trust, Series 2024-2A, Class A, 6.56% 7/20/2029 <sup>(b)(c)</sup>  | 1638 | 1647 |
| MMP Capital, Series 2025-A, Class A, 5.36% 12/15/2031 <sup>(b)(c)</sup>  | 414 | 417 |
| MMP Capital, Series 2025-A, Class B, 5.72% 12/15/2031 <sup>(b)(c)</sup>  | 830 | 848 |
| New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 10/20/2061 <sup>(b)(c)</sup>  | 358 | 300 |
| NMEF Funding, LLC, Series 2024-A, Class A2, 5.15% 12/15/2031 <sup>(b)(c)</sup>  | 1496 | 1506 |
| NMEF Funding, LLC, Series 2025-A, Class A2, 4.72% 7/15/2032 <sup>(b)(c)</sup>  | 1702 | 1709 |
| NMEF Funding, LLC, Series 2025-A, Class B, 5.18% 7/15/2032 <sup>(b)(c)</sup>  | 1958 | 1984 |
| NMEF Funding, LLC, Series 2025-B, Class A2, 4.64% 1/18/2033 <sup>(b)(c)</sup>  | 2539 | 2550 |
| NMEF Funding, LLC, Series 2025-B, Class B, 4.73% 1/18/2033 <sup>(b)(c)</sup>  | 3178 | 3204 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-1, Class A, 6.27% 6/17/2031 <sup>(b)(c)</sup>  | 1020 | 1034 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-2A, Class A, 4.98% 10/17/2031 <sup>(b)(c)</sup>  | 1001 | 1006 |
| OnDeck Asset Securitization Trust, LLC, Series 2025-1A, Class A, 5.08% 4/19/2032 <sup>(b)(c)</sup>  | 992 | 1000 |
| OnDeck Asset Securitization Trust, LLC, Series 2025-1A, Class B, 5.52% 4/19/2032 <sup>(b)(c)</sup>  | 1015 | 1022 |
| OnDeck Asset Securitization Trust, LLC, Series 2025-2A, Class A, 4.84% 11/17/2032 <sup>(b)(c)</sup>  | 643 | 647 |
| OnDeck Asset Securitization Trust, LLC, Series 2025-2A, Class B, 5.23% 11/17/2032 <sup>(b)(c)</sup>  | 748 | 751 |
| OnDeck Asset Securitization Trust, LLC, Series 2025-2A, Class C, 6.30% 11/17/2032 <sup>(b)(c)</sup>  | 709 | 715 |
| OWN Equipment Fund III, Series 2025-2M, Class A, 5.42% 3/27/2034 <sup>(b)(c)</sup>  | 1921 | 1934 |
| Pagaya AI Debt Selection Trust, Series 2025-R3, Class A, 4.841% 1/18/2033 <sup>(b)(c)</sup>  | 4475 | 4481 |
| Pagaya AI Debt Selection Trust, Series 2025-R3, Class B, 5.088% 1/18/2033 <sup>(b)(c)</sup>  | 2985 | 2990 |
| Pagaya Point Of Sale Holdings Grantor Trust, Series 2025-2, Class A, 5.065% 7/20/2033 <sup>(b)(c)</sup>  | 4272 | 4297 |
| Pagaya Point Of Sale Holdings Grantor Trust, Series 2025-2, Class B, 5.212% 7/20/2033 <sup>(b)(c)</sup>  | 5000 | 5022 |
| PEAC Solutions Receivables, LLC, Series 2024-2A, Class A2, 4.74% 4/20/2027 <sup>(b)(c)</sup>  | 402 | 403 |
| PEAC Solutions Receivables, LLC, Series 2024-1A, Class A2, 5.79% 6/21/2027 <sup>(b)(c)</sup>  | 1369 | 1380 |
| PEAC Solutions Receivables, LLC, Series 2025-1A, Class A2, 4.94% 10/20/2028 <sup>(b)(c)</sup>  | 1326 | 1335 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **207** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Short Duration Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| **Other asset-backed securities (continued)** |  |  |
| PEAC Solutions Receivables, LLC, Series 2024-2A, Class A3, 4.65% 10/20/2031 <sup>(b)(c)</sup>  | USD<br> 293<br>| $295 |
| PEAC Solutions Receivables, LLC, Series 2024-2A, Class B, 4.83% 10/20/2031 <sup>(b)(c)</sup>  | 764 | 770 |
| PFS Financing Corp., Series 2023-A, Class A, 5.80% 3/15/2028 <sup>(b)(c)</sup>  | 2000 | 2007 |
| PFS Financing Corp., Series 2024-F, Class A, 4.75% 8/15/2029 <sup>(b)(c)</sup>  | 2969 | 3005 |
| PG&E Recovery Funding, LLC, Series 2024-A, Class A1, 4.838% 6/1/2035 <sup>(c)</sup>  | 1666 | 1696 |
| PK ALIFT Loan Funding 3, LP, Series 2024-1, Class A1, 5.842% 9/15/2039 <sup>(b)(c)</sup>  | 545 | 558 |
| PK ALIFT Loan Funding 4, LP, Series 2024-2, Class A, 5.052% 10/15/2039 <sup>(b)(c)</sup>  | 1244 | 1250 |
| PK ALIFT Loan Funding, Series 2025-2, Class A, 4.75% 3/15/2043 <sup>(b)(c)</sup>  | 880 | 883 |
| Post Road Equipment Finance, Series 2025-1A, Class A2, 4.90% 5/15/2031 <sup>(b)(c)</sup>  | 824 | 830 |
| Post Road Equipment Finance, Series 2025-1A, Class B, 5.04% 5/15/2031 <sup>(b)(c)</sup>  | 1450 | 1474 |
| Post Road Equipment Finance, Series 2025-1A, Class C, 5.13% 5/15/2031 <sup>(b)(c)</sup>  | 3450 | 3509 |
| Reach Financial, LLC, Series 2024-2, Class A, 5.88% 7/15/2031 <sup>(b)(c)</sup>  | 341 | 343 |
| SCF Equipment Trust, LLC, Series 2025-1A, Class A3, 5.11% 11/21/2033 <sup>(b)(c)</sup>  | 3567 | 3645 |
| SLAM, LLC, Series 2024-1A, Class A, 5.335% 9/15/2049 <sup>(b)(c)</sup>  | 968 | 982 |
| Subway Funding, LLC, Series 2024-3, Class A2I, 5.246% 7/30/2054 <sup>(b)(c)</sup>  | 2162 | 2158 |
| Synchrony Card Issuance Trust, Series 2023-A2, Class A, 5.74% 10/15/2029 <sup>(c)</sup>  | 498 | 505 |
| Synchrony Card Issuance Trust, Series 2024-A2, Class A, 4.93% 7/15/2030 <sup>(c)</sup>  | 2835 | 2882 |
| TAL Advantage V, LLC, Series 2020-1A, Class A, 2.05% 9/20/2045 <sup>(b)(c)</sup>  | 705 | 675 |
| Textainer Marine Containers, Ltd., Series 2021-1, Class A, 1.68% 2/20/2046 <sup>(b)(c)</sup>  | 708 | 668 |
| Textainer Marine Containers, Ltd., Series 2021-2A, Class A, 2.23% 4/20/2046 <sup>(b)(c)</sup>  | 498 | 472 |
| Textainer Marine Containers, Ltd., Series 2025-1H, Class A, 6.43% 7/23/2050 <sup>(b)(c)</sup>  | 1870 | 1881 |
| Textainer Marine Containers, Ltd., Series 2025-1H, Class B, 8.06% 7/23/2050 <sup>(b)(c)</sup>  | 997 | 1003 |
| TIF Funding II, LLC, Series 2021-1A, Class A, 1.65% 2/20/2046 <sup>(b)(c)</sup>  | 843 | 774 |
| Trinity Rail Leasing, LP, Series 2020-2A, Class A2, 2.56% 11/19/2050 <sup>(b)(c)</sup>  | 1727 | 1660 |
| Triton Container Finance VIII, LLC, Series 2020-1, Class A, 2.11% 9/20/2045 <sup>(b)(c)</sup>  | 831 | 785 |
| U.S. Bank National Association, Series 2025-SUP1, Class B, 5.582% 2/25/2032 <sup>(b)(c)</sup>  | 1130 | 1136 |
| U.S. Bank National Association, Series 2025-SUP2, Class B1, 4.818% 9/25/2032 <sup>(b)(c)</sup>  | 1897 | 1909 |
| Upstart Securitization Trust, Series 2025-4, Class B, 5.20% 11/20/2035 <sup>(b)(c)</sup>  | 4000 | 4012 |
| Verdant Receivables, LLC, Series 2024-1, Class A2, 5.68% 12/12/2031 <sup>(b)(c)</sup>  | 456 | 466 |
| Verdant Receivables, LLC, Series 2024-1, Class C, 6.25% 12/12/2031 <sup>(b)(c)</sup>  | 164 | 170 |
| Verdant Receivables, LLC, Series 2025-1A, Class A3, 4.96% 5/12/2033 <sup>(b)(c)</sup>  | 3364 | 3431 |
| Verizon Master Trust, Series 2024-6, Class A1A, 4.17% 8/20/2030 <sup>(c)</sup>  | 1937 | 1950 |
| Verizon Master Trust, Series 2025-9, Class A1A, 3.96% 10/21/2030 (4.67% on 10/20/2027) <sup>(a)(c)</sup>  | 2924 | 2939 |
| Verizon Master Trust, Series 2024-2, Class A, 4.83% 12/22/2031 <sup>(b)(c)</sup>  | 652 | 668 |
| Verizon Master Trust, Series 24-5, Class A, 5.00% 6/21/2032 <sup>(b)(c)</sup>  | 625 | 645 |
| Verizon Master Trust, Series 2025-4, Class A, 4.76% 3/21/2033 <sup>(b)(c)</sup>  | 2825 | 2897 |
| Verizon Master Trust, Series 2025-10, Class A, 4.28% 10/20/2033 (4.96% on 10/20/2030) <sup>(a)(b)(c)</sup>  | 2693 | 2708 |
| VFI ABS, LLC, Series 2025-1A, Class A, 4.78% 6/24/2030 <sup>(b)(c)</sup>  | 818 | 822 |
| Wingspire Equipment Finance, LLC, Series 2024-1A, Class A2, 4.99% 9/20/2032 <sup>(b)(c)</sup>  | 246 | 247 |
| Wingspire Equipment Finance, LLC, Series 2024-1A, Class B, 5.06% 9/20/2032 <sup>(b)(c)</sup>  | 667 | 674 |
| Wingspire Equipment Finance, LLC, Series 2024-1A, Class C, 5.28% 9/20/2032 <sup>(b)(c)</sup>  | 708 | 717 |
| Wingspire Equipment Finance, LLC, Series 2025-1A, Class A2, 4.33% 9/20/2033 <sup>(b)(c)</sup>  | 216 | 216 |
| Wingspire Equipment Finance, LLC, Series 2025-1A, Class B, 4.57% 9/20/2033 <sup>(b)(c)</sup>  | 2105 | 2113 |
| Wingspire Equipment Finance, LLC, Series 2025-1A, Class C, 4.76% 9/20/2033 <sup>(b)(c)</sup>  | 320 | 321 |
|  |  | 185402 |
| **Collateralized loan obligations 1.99%** |  |  |
| Allegro CLO, Ltd., Series 2019-1, Class ARR, (3-month USD CME Term SOFR + 1.13%) 5.014% <br> 4/20/2032 <sup>(b)(c)(d)</sup>  | 737 | 737 |
| Apidos CLO, Ltd., Series 2019-32A, Class A1R, (3-month USD CME Term SOFR + 1.10%) 4.984% <br> 1/20/2033 <sup>(b)(c)(d)</sup>  | 1045 | 1046 |
| Battalion CLO, Ltd., Series 2018-12A, Class ARR, (3-month USD CME Term SOFR + 0.93%) 4.782% <br> 5/17/2031 <sup>(b)(c)(d)</sup>  | 982 | 983 |
| Blackrock CLO, Series 2025-2A, Class A, (3-month USD CME Term SOFR + 1.27%) 5.047% 11/21/2033 <sup>(b)(c)(d)</sup>  | 5969 | 5973 |
| Bluemountain CLO, Ltd., Series 2021-31A, Class A1R, (3-month USD CME Term SOFR + 1.10%) 5.246% <br> 4/19/2034 <sup>(b)(c)(d)</sup>  | 1368 | 1366 |
| Dryden Senior Loan Fund, CLO, Series 2015-37, Class AR, (3-month USD CME Term SOFR + 1.362%) 5.266% <br> 1/15/2031 <sup>(b)(c)(d)</sup>  | 51 | 51 |
| Flatiron CLO, Ltd., Series 2024-1A, Class A1R, (3-month USD CME Term SOFR + 1.08%) 4.985% <br> 7/15/2036 <sup>(b)(c)(d)</sup>  | 2077 | 2081 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **208** |

---

------

Capital Group Short Duration Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| **Collateralized loan obligations (continued)** |  |  |
| Fortress Credit BSL, Ltd., CLO, Series 2019-2A, Class A1AR, (3-month USD CME Term SOFR + 1.05%) 4.934% <br> 10/20/2032 <sup>(b)(c)(d)</sup>  | USD<br> 738<br>| $738 |
| Golub Capital Partners Static, Ltd., CLO, Series 2024-1, Class AR, (3-month USD CME Term SOFR + 1.12%) <br> 5.446% 7/20/2035 <sup>(b)(c)(d)</sup>  | 1500 | 1500 |
| Golub Capital Private Credit Fund CLO, Series 2025-BSL1A, Class A1, (3-month USD CME Term SOFR + <br> 1.05%) 4.751% 1/20/2034 <sup>(b)(c)(d)</sup>  | 4000 | 4001 |
| LCM, LP, Series 2027, Class A1, (3-month USD CME Term SOFR + 1.342%) 5.235% 7/16/2031 <sup>(b)(c)(d)</sup>  | 6 | 6 |
| Madison Park Funding, Ltd., CLO, Series 2021-50A, Class A, (3-month USD CME Term SOFR + 1.402%) <br> 5.286% 4/19/2034 <sup>(b)(c)(d)</sup>  | 300 | 300 |
| Magnetite CLO, Ltd., Series 2019-22, Class ARR, (3-month USD CME Term SOFR + 1.25%) 5.155% <br> 7/15/2036 <sup>(b)(c)(d)</sup>  | 693 | 693 |
| Marble Point CLO, Ltd., Series 2019-1A, Class A1R2, (3-month USD CME Term SOFR + 1.04%) 4.90% <br> 7/23/2032 <sup>(b)(c)(d)</sup>  | 830 | 831 |
| Palmer Square Loan Funding, Ltd., Series 2022-4A, Class A1RN, (3-month USD CME Term SOFR + 1.00%) <br> 4.865% 7/24/2031 <sup>(b)(c)(d)</sup>  | 144 | 144 |
| Palmer Square Loan Funding, Ltd., Series 2022-4A, Class A2R, (3-month USD CME Term SOFR + 1.30%) <br> 5.165% 7/24/2031 <sup>(b)(c)(d)</sup>  | 889 | 886 |
| Parallel, Ltd., Series 2023-1A, Class A1R, (3-month USD CME Term SOFR + 1.39%) 5.274% 7/20/2036 <sup>(b)(c)(d)</sup>  | 3000 | 3007 |
| Sound Point CLO, Ltd., Series 2013-3R, Class A, (3-month USD CME Term SOFR + 1.412%) 5.296% <br> 4/18/2031 <sup>(b)(c)(d)</sup>  | 93 | 93 |
| Steele Creek CLO, Ltd., Series 2019-1A, Class ARR, (3-month USD CME Term SOFR + 1.04%) 4.945% <br> 4/15/2032 <sup>(b)(c)(d)</sup>  | 1791 | 1789 |
| Steele Creek CLO, Ltd., Series 2019-2A, Class ARR, (3-month USD CME Term SOFR + 1.00%) 4.905% <br> 7/15/2032 <sup>(b)(c)(d)</sup>  | 1779 | 1776 |
| Thompson Park CLO, Ltd., Series 2021-1A, Class A1R, (3-month USD CME Term SOFR + 1.05%) 4.955% <br> 4/15/2034 <sup>(b)(c)(d)</sup>  | 3229 | 3231 |
| Trinitas CLO, Ltd., Series 2018-9A, Class ARRR, (3-month USD CME Term SOFR + 1.20%) 5.084% <br> 1/20/2032 <sup>(b)(c)(d)</sup>  | 187 | 187 |
| Trinitas CLO, Ltd., Series 2020-12A, Class A1R2, (3-month USD CME Term SOFR + 1.05%) 4.908% <br> 4/25/2033 <sup>(b)(c)(d)</sup>  | 3426 | 3430 |
| Trinitas CLO, Ltd., Series 2020-12A, Class B1R2, (3-month USD CME Term SOFR + 1.55%) 5.792% <br> 4/25/2033 <sup>(b)(c)(d)</sup>  | 1318 | 1319 |
| Valley Stream Park CLO, Ltd., Series 2022-1A, Class ARR, (3-month USD CME Term SOFR + 1.19%) 5.074% <br> 1/20/2037 <sup>(b)(c)(d)</sup>  | 1000 | 1000 |
|  |  | 37168 |
| **Credit card 1.43%** |  |  |
| Avant Credit Card Master Trust, Series 2024-2A, Class A, 5.38% 5/15/2029 <sup>(b)(c)</sup>  | 5000 | 5012 |
| Brex Commercial Charge Card Master Trust, Series 2024-1, Class A1, 6.05% 7/15/2027 <sup>(b)(c)</sup>  | 806 | 808 |
| Evergreen Credit Card Trust, Series 2025-CRT5, Class B, 5.24% 5/15/2029 <sup>(b)(c)</sup>  | 574 | 582 |
| Evergreen Credit Card Trust, Series 2025-CRT5, Class C, 5.53% 5/15/2029 <sup>(b)(c)</sup>  | 230 | 233 |
| First National Master Note Trust, Series 2023-1, Class A, 5.13% 4/15/2029 <sup>(c)</sup>  | 592 | 594 |
| First National Master Note Trust, Series 2023-2, Class A, 5.77% 9/17/2029 <sup>(c)</sup>  | 668 | 677 |
| First National Master Note Trust, Series 2024-1, Class A, 5.34% 5/15/2030 <sup>(c)</sup>  | 2110 | 2153 |
| Imprint Payments Credit Card Master Trust, Series 2025-A, Class A, 4.84% 9/15/2029 <sup>(b)(c)</sup>  | 2151 | 2157 |
| Mission Lane Credit Card Master Trust, Series 2024-A, Class A1, 6.20% 8/15/2029 <sup>(b)(c)</sup>  | 1212 | 1220 |
| Mission Lane Credit Card Master Trust, Series 2025-C, Class A, 4.78% 12/16/2030 <sup>(b)(c)</sup>  | 2541 | 2555 |
| Mission Lane Credit Card Master Trust, Series 2025-C, Class C, 5.37% 12/16/2030 <sup>(b)(c)</sup>  | 1200 | 1204 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class A, 5.06% 9/15/2031 <sup>(b)(c)</sup>  | 2591 | 2611 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class B, 5.21% 9/15/2031 <sup>(b)(c)</sup>  | 995 | 1003 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class C, 5.41% 9/15/2031 <sup>(b)(c)</sup>  | 427 | 429 |
| World Financial Network Credit Card Master Trust, Series 2024-A, Class A, 5.47% 2/17/2031 <sup>(c)</sup>  | 2157 | 2200 |
| World Financial Network Credit Card Master Trust, Series 2024-B, Class A, 4.62% 5/15/2031 <sup>(c)</sup>  | 3374 | 3414 |
|  |  | 26852 |
| **Student loan 0.34%** |  |  |
| Navient Education Loan Trust, Series 2025-A, Class A, 5.02% 7/15/2055 <sup>(b)(c)</sup>  | 1417 | 1434 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **209** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Short Duration Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| **Student loan (continued)** |  |  |
| Nelnet Student Loan Trust, Series 2025-AA, Class A1A, 5.07% 3/15/2057 <sup>(b)(c)</sup>  | USD<br> 3,506<br>| $3543 |
| SMB Private Education Loan Trust, Series 2023-C, Class A1B, (30-day Average USD-SOFR + 1.55%) 5.534% <br> 11/15/2052 <sup>(b)(c)(d)</sup>  | 176 | 178 |
| SMB Private Education Loan Trust, Series 2025-A, Class A1A, 5.13% 4/15/2054 <sup>(b)(c)</sup>  | 1176 | 1195 |
|  |  | 6350 |
| **Total asset-backed obligations** |  | 450899 |
| **U.S. Treasury bonds & notes 1.07%** | **U.S. Treasury bonds & notes 1.07%** | **U.S. Treasury bonds & notes 1.07%** |
| **U.S. Treasury 1.07%** |  |  |
| U.S. Treasury 3.625% 8/31/2027  | 1736 | 1740 |
| U.S. Treasury 3.50% 9/30/2027 <sup>(g)</sup>  | 6250 | 6252 |
| U.S. Treasury 3.50% 10/31/2027  | 4000 | 4001 |
| U.S. Treasury 3.375% 11/30/2027  | 6450 | 6438 |
| U.S. Treasury 3.625% 9/30/2030  | 1647 | 1641 |
|  |  | 20072 |
| **Total U.S. Treasury bonds & notes** |  | 20072 |
| **Bonds & notes of governments & government agencies outside the U.S. 0.33%** | **Bonds & notes of governments & government agencies outside the U.S. 0.33%** | **Bonds & notes of governments & government agencies outside the U.S. 0.33%** |
| **Chile 0.07%** |  |  |
| Chile (Republic of) 4.85% 1/22/2029  | 1335 | 1366 |
| **Mexico 0.05%** |  |  |
| United Mexican States 5.00% 5/7/2029  | 1010 | 1028 |
| **Saudi Arabia 0.21%** |  |  |
| Saudi Arabia (Kingdom of) 4.25% 9/9/2030 <sup>(b)</sup>  | 3840 | 3839 |
| **Total bonds & notes of governments & government agencies outside the U.S.** |  | 6233 |
| **Loans 0.09%** | **Loans 0.09%** | **Loans 0.09%** |
| **Financials 0.09%** |  |  |
| Aero Capital Solutions, Inc., Term Loan, (1-month USD CME Term SOFR + 3.00%) 7.61% 11/17/2029 <sup>(b)(d)(h)(i)</sup>  | 1694 | 1681 |
| **Total loans** |  | 1681 |
| **Total bonds, notes & other debt instruments** (cost: $1,802,034,000) |  | 1818730 |
| Short-term securities 4.77% | Shares |  |
| **Money market investments 4.77%** | **Money market investments 4.77%** | **Money market investments 4.77%** |
| Capital Group Central Cash Fund 3.79% <sup>(j)(k)</sup>  | 893670 | 89376 |
| **Total short-term securities** (cost: $89,356,000) |  | 89376 |
| **Total investment securities 101.93%** (cost: $1,891,390,000) |  | 1908106 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Other assets less liabilities (1.93)% | (36207)<br>|
| **Net assets 100.00%** | $1871899 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **210** |

---

------

Capital Group Short Duration Income ETF (continued)

**Swap contracts**

------

**Interest rate swaps**

**Centrally cleared interest rate swaps** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | &nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Value at <br>12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Value at <br>12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| 3.37% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 10/14/2027 | USD709,700 | &nbsp;&nbsp;&nbsp;&nbsp; $507 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $507 |
| SOFR | Annual | 3.1665% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 9/18/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 56900 | &nbsp;&nbsp;&nbsp;&nbsp; 2327 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2327 |
| SOFR | Annual | 3.664% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 10/14/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 94300 | &nbsp;&nbsp;&nbsp;&nbsp; 915 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 915 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $3749 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $3749 |

---

**Investments in affiliates** <sup>(k)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>12/31/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 4.77%** | **Short-term securities 4.77%** | **Short-term securities 4.77%** | **Short-term securities 4.77%** | **Short-term securities 4.77%** | **Short-term securities 4.77%** | **Short-term securities 4.77%** | **Short-term securities 4.77%** |
| **Money market investments 4.77%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 3.79% <sup>(j)</sup> | $60729 | &nbsp;&nbsp; $658074 | &nbsp;&nbsp; $629430 | &nbsp;&nbsp; $(8)<br>| &nbsp;&nbsp; $11 | &nbsp;&nbsp; $89376 | &nbsp;&nbsp; $4045 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Step bond; coupon rate may change at a later date.

<sup>(b)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) 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 $744,716,000, which represented 39.78% of the net assets of the fund. 

<sup>(c)</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>(d)</sup> 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. 

<sup>(e)</sup> Purchased on a TBA basis.

<sup>(f)</sup> Scheduled interest and/or principal payment was not received.

<sup>(g)</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $5,308,000, which represented 0.28% of the net assets of the fund. 

<sup>(h)</sup> Value determined using significant unobservable inputs.

<sup>(i)</sup> Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $1,681,000, which represented 0.09% of the net assets of the fund. 

<sup>(j)</sup> Rate represents the seven-day yield at 12/31/2025.

<sup>(k)</sup> Affiliate of the fund or part of the same "group of investment companies" as the fund, as defined under the Investment Company Act of 1940, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| CLO = Collateralized Loan Obligations |
| CME = CME Group |
| SOFR = Secured Overnight Financing Rate |
| TBA = To be announced |
| USD = U.S. dollars |
| UST = U.S. Treasury |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **211** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Short Duration Municipal Income ETF

**Investment portfolio** December 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments 94.18% | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Alabama 2.90%** | **Alabama 2.90%** | **Alabama 2.90%** |
| County of Baldwin, Industrial Dev. Auth., Solid Waste Disposal Rev. Bonds (Novelis Corp. Project), Series 2025-A, AMT, <br> 5.00% 6/1/2055 (put 6/1/2032) <sup>(a)</sup>  | USD<br> 1,000<br>| $1020 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds (BP P.L.C), Series 2024-D, 5.00% 3/1/2055 (put 11/1/2034)  | 800 | 856 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds (Project No. 7), Series 2021-C-1, 4.00% 10/1/2052 (put 12/1/2026)  | 2055 | 2064 |
| Black Belt Energy Gas Dist., Gas Project Rev. Ref. Bonds, Series 2025-D, 5.00% 12/1/2055 (put 8/1/2035)  | 1310 | 1407 |
| Black Belt Energy Gas Dist., Gas Supply Rev. Bonds, Series 2022-D-1, 4.00% 7/1/2052 (put 6/1/2027)  | 2240 | 2259 |
| Federal Aid Highway Fin. Auth., Special Obligation Rev. Bonds, Series 2016-A, 5.00% 9/1/2035 (preref. 9/1/2026)  | 1250 | 1270 |
| Health Care Auth., Baptist Health, An Affiliate of UAB Health System, Series 2023-A, 5.00% 11/15/2029  | 1000 | 1065 |
| Housing Fin. Auth., Collateralized Single Family Mortgage Rev. Bonds, Series 2024-C, 5.75% 4/1/2055  | 1295 | 1411 |
| Housing Fin. Auth., Multi Family Housing Rev. Bonds (Cooper Green Homes Project), Series 2024-C, 5.00% 2/1/2029 <br> (put 2/1/2028)  | 195 | 203 |
| Housing Fin. Auth., Multi Family Housing Rev. Bonds (Fred Marshall Project), Series 2025-F, 3.15% 12/1/2028 (put <br> 6/1/2028)  | 555 | 556 |
| County of Jefferson, Limited Obligation Rev. Ref. Bonds, Series 2017, 5.00% 9/15/2027  | 1000 | 1026 |
| County of Jefferson, Sewer Rev. Warrants, Series 2024, 5.00% 10/1/2032  | 1000 | 1116 |
| Lower Alabama Gas Dist., Gas Project Rev. Ref. Bonds, Series 2025-A, 5.00% 12/1/2033 (put 9/1/2033)  | 1215 | 1285 |
| Midcity Improvement Dist., Special Assessment Rev. Bonds, Series 2022, 3.875% 11/1/2027  | 105 | 103 |
| South East Gas Supply Dist., Gas Supply Rev. Ref. Bonds (Project No. 2), Series 2024-B, 5.00% 6/1/2049 (put 5/1/2032)  | 4000 | 4294 |
| Southeast Energy Auth., Commodity Supply Rev. Bonds (Project No. 3), Series 2022-A-1, 5.50% 1/1/2053 (put <br> 12/1/2029)  | 4370 | 4686 |
| Southeast Energy Auth., Commodity Supply Rev. Bonds (Project No. 4), Series 2022-B-1, 5.00% 5/1/2053 (put <br> 8/1/2028)  | 2000 | 2071 |
| Stadium Trace Village Improvement Dist., Dev. Incentive Anticipation Bonds, Series 2021, 3.625% 3/1/2036  | 1040 | 956 |
|  |  | 27648 |
| **Alaska 0.84%** | **Alaska 0.84%** | **Alaska 0.84%** |
| GO Rev. Ref. Bonds, Series 2025-3, 5.00% 10/1/2026  | 300 | 305 |
| Industrial Dev. and Export Auth., Power Rev. Ref. Bonds (Snettisham Hydroelectric Project), Series 2015, AMT, 5.00% <br> 1/1/2031  | 1000 | 1001 |
| City of Valdez, Marine Terminal Rev. Ref. Bonds (Exxon Pipeline Co. Project), Series 1993-B, 2.50% 12/1/2033 <sup>(b)</sup>  | 6675 | 6675 |
|  |  | 7981 |
| **Arizona 1.52%** | **Arizona 1.52%** | **Arizona 1.52%** |
| City of Glendale, Industrial Dev. Auth., Rev. Bonds (Midwestern University), Series 2025, 5.00% 5/15/2027  | 500 | 516 |
| City of Glendale, Industrial Dev. Auth., Rev. Ref. Bonds (Midwestern University), Series 2020, 5.00% 5/15/2028  | 625 | 658 |
| Industrial Dev. Auth., Charter School Rev. Bonds (Equitable School Revolving Fund - Kestrel Verifiers), Series 2021-A, <br> 4.00% 11/1/2026  | 1000 | 1010 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2019, 4.00% 7/1/2029 <sup>(a)</sup>  | 135 | 134 |
| Industrial Dev. Auth., Multi Family Housing Bonds (Ironwood Ranch Apartments Project), Series 2024, 5.00% 2/1/2058 <br> (put 9/1/2026)  | 1300 | 1316 |
| Industrial Dev. Auth., Multi Family Housing Rev. Bonds (The Acacia At Youngtown Phase II Project), Series 2024, 5.00% <br> 11/1/2058 (put 7/1/2027)  | 3975 | 4051 |
| Industrial Dev. Auth., Rev. Bonds (Lincoln South Beltway Project), Series 2020, 5.00% 11/1/2028  | 2000 | 2138 |
| County of Maricopa, Industrial Dev. Auth., Rev. Bonds (Banner Health), Series 2016-A, 5.00% 1/1/2038  | 290 | 295 |
| County of Maricopa, Industrial Dev. Auth., Rev. Bonds (Verrado Marketplace Project), Series 2025, 4.375% 5/1/2033 <sup>(a)</sup>  | 500 | 492 |
| City of Phoenix, Industrial Dev. Auth., Multi Family Housing Rev. Bonds (Memorial Towers Project), Series 2024-A, <br> 3.35% 12/1/2027  | 295 | 297 |
| Phoenix Union High School Dist. No. 210, Improvement Bonds (Project of 2023), Series 2025-B, 5.00% 7/1/2029  | 475 | 516 |
| City of Phoenix Civic Improvement Corp., Airport Rev. Ref. Bonds, Series 2017-D, 5.00% 7/1/2032  | 2000 | 2063 |
| City of Phoenix Civic Improvement Corp., Wastewater System Rev. Ref. Bonds, Series 2016, 5.00% 7/1/2028  | 1000 | 1012 |
|  |  | 14498 |
| **Arkansas 0.26%** | **Arkansas 0.26%** | **Arkansas 0.26%** |
| Dev. Fin. Auth., Industrial Dev. Rev. Bonds (Big River Steel Project), Series 2019, AMT, 4.50% 9/1/2049 <sup>(a)</sup>  | 2055 | 1998 |
| Dev. Fin. Auth., Resource Recovery Rev. Bonds (Weyerhaeuser Co. Project), Series 2025, AMT, 3.875% 10/15/2067 (put <br> 10/15/2032)  | 480 | 481 |
|  |  | 2479 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **212** |

---

------

Capital Group Short Duration Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **California 13.52%** | **California 13.52%** | **California 13.52%** |
| Alvord Unified School Dist., GO Bonds, 2007 Election, CAB, Series 2011-B, AGI, 0% 8/1/2036  | USD<br> 1,000<br>| $676 |
| Antelope Valley Community College Dist., GO Bonds, 2016 Election, Series 2017, 4.00% 8/1/2046  | 6850 | 6958 |
| Assn. of Bay Area Governments, Fin. Auth. for Nonprofit Corps., Rev. Ref. Bonds (Windemere Ranch Infrastructure <br> Fncg. Program), Series 2014-A, 5.00% 9/2/2027  | 295 | 296 |
| City of Chula Vista, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2016, AGI, 5.00% <br> 10/1/2028  | 570 | 581 |
| Clovis Unified School Dist., GO Bonds, CAB, 2001 Election, Series 2002-B, NATL, 0% 8/1/2027  | 1000 | 959 |
| Colton Joint Unified School Dist., GO Bonds, CAB, 2024 Election, Series 2025, BAM, 0% 8/1/2033  | 625 | 492 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2021-B-1, 4.00% 2/1/2052 (put <br> 8/1/2031)  | 2000 | 2029 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2021-A, 4.00% 10/1/2052 (put <br> 12/1/2027)  | 1000 | 1010 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2023-E-1, 5.00% 2/1/2054 (put <br> 3/1/2031)  | 4000 | 4258 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-A, 5.00% 5/1/2054 (put <br> 4/1/2032)  | 3000 | 3217 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2023-G, 5.25% 11/1/2054 (put <br> 4/1/2030)  | 1270 | 1350 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-E, 5.00% 2/1/2055 (put <br> 9/1/2032)  | 1500 | 1610 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-F, 5.00% 2/1/2055 (put <br> 11/1/2032)  | 1390 | 1504 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-C, 5.00% 8/1/2055 (put <br> 10/1/2032)  | 2000 | 2120 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2024-H, 5.00% 1/1/2056 (put <br> 8/1/2033)  | 145 | 159 |
| East County Advanced Water Purification JT Powers Auth. Green Bonds, Series 2024-A-1, 3.125% 9/1/2026  | 3000 | 3006 |
| Educational Facs. Auth., Rev. Bonds (Saint Mary's College of California), Series 2023-A, 5.25% 10/1/2030  | 400 | 422 |
| City of Fairfield, Community Facs. Dist. No. 2023-1 (One Lake Planning Area 5), Improvement Area No. 1, Special Tax <br> Bonds, Series 2024-A, 5.00% 9/1/2032  | 245 | 265 |
| City of Fontana, Community Facs. Dist. No. 109 (Narra Hills), Special Tax Bonds, Series 2024, 5.00% 9/1/2028  | 500 | 524 |
| Foothill/Eastern Transportation Corridor Agcy., Toll Road Rev. Ref. Bonds, Series 2013-A, 6.125% 1/15/2028 <sup>(c)</sup>  | 2000 | 2150 |
| GO Rev. Ref. Bonds, Series 2021, 5.00% 12/1/2028  | 3000 | 3230 |
| GO Rev. Ref. Bonds, Series 2023, 5.00% 9/1/2032  | 1500 | 1740 |
| Housing Fin. Agcy., Municipal Certs., Series 2021-A-1, 3.50% 11/20/2035  | 926 | 918 |
| Housing Fin. Agcy., Municipal Certs., Series 2021-A-3, 3.25% 8/20/2036  | 467 | 448 |
| City of Inglewood, Successor Agcy. to the Redev. Agcy., Tax Allocation Bonds (Merged Redev. Project), Series 2017-A, <br> BAM, 5.00% 5/1/2028  | 1000 | 1032 |
| Inglewood Unified School Dist., GO Bonds, 2020 Election, Series 2025-B, 5.00% 8/1/2029  | 600 | 654 |
| City of Irvine, Reassessment Dist. No. 12-1, Limited Obligation Improvement Bonds, Series 2012, 4.00% 9/2/2028  | 675 | 676 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2017-A, 5.00% 9/1/2027  | 1085 | 1119 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. and Rev. Ref. Green Bonds, Series <br> 2025-D, 5.00% 5/15/2030  | 400 | 450 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2021-D, AMT, 5.00% <br> 5/15/2029  | 1105 | 1179 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Ref. Bonds, Series 2021-A, AMT, 5.00% <br> 5/15/2026  | 1020 | 1029 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Ref. Green Bonds, Series 2025-A, AMT, <br> 5.00% 5/15/2029  | 1190 | 1270 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2025-C, 5.00% 7/1/2030  | 2645 | 2880 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-B, 5.00% 7/1/2032  | 825 | 902 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2025-A, 5.00% 7/1/2032  | 1000 | 1132 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2020-A, 5.00% 7/1/2027  | 1415 | 1467 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2025-A, 5.00% 1/1/2030  | 1405 | 1512 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2025-C, 5.00% 7/1/2030  | 1950 | 2143 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2025-B, 5.00% 7/1/2033  | 405 | 463 |
| City of Los Angeles, Harbor Dept., Rev. Ref. Bonds, Series 2024-A-1, AMT, 5.00% 8/1/2027  | 375 | 387 |
| Los Angeles County Dev. Auth. Multi Family Housing Rev. Bonds (Century and Restorative Care Village Phase I), Series <br> 2025-C, 3.35% 9/1/2059 (put 9/1/2028)  | 2810 | 2843 |
| Madera Unified School Dist., GO Bonds, CAB, 2006 Election, Series 2007, NATL, 0% 8/1/2028  | 1000 | 928 |
| Manteca Unified School Dist., GO Bonds, CAB, 2004 Election, Series 2006, NATL, 0% 8/1/2031  | 685 | 589 |
| Metropolitan Water Dist. of Southern California, Water Rev. Ref. Bonds, Series 2024-B-3, 5.00% 7/1/2037 (put <br> 7/1/2031)  | 2000 | 2217 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **213** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Short Duration Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **California (continued)** | **California (continued)** | **California (continued)** |
| Monrovia Unified School Dist., GO Bonds, CAB, 2006 Election, Series 2009-B, AGI, 0% 8/1/2029  | USD<br> 1,000<br>| $909 |
| Monrovia Unified School Dist., GO Bonds, CAB, 1997 Election, Series 2000-B, 0% 8/1/2031  | 1295 | 1108 |
| Mt. Diablo Unified School Dist., GO Rev. Ref. Bonds, Series 2025, 5.00% 8/1/2029  | 450 | 496 |
| Municipal Fin. Auth., Community Facs. Dist. No. 2023-11 (City of Hesperia - Silverwood), Special Tax Bonds, Series <br> 2024, 4.50% 9/1/2034  | 200 | 208 |
| Municipal Fin. Auth., Multi Family Housing Rev. Bonds (Palmdale Family Apartments), Series 2025-A-1, 2.95% 1/1/2056 <br> (put 1/1/2028)  | 1590 | 1590 |
| Municipal Fin. Auth., Rev. Ref. Bonds (HumanGood Obligated Group), Series 2019-A, 4.00% 10/1/2029  | 500 | 503 |
| Municipal Fin. Auth., Rev. Ref. Bonds (HumanGood Obligated Group), Series 2019-A, 4.00% 10/1/2031  | 100 | 101 |
| Municipal Fin. Auth., Senior Living Rev. Bonds (Mt. San Antonio Gardens Project), Series 2022-A, 4.00% 11/15/2030  | 130 | 131 |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2022-A, AMT, 4.125% <br> 10/1/2041 (put 10/2/2028)  | 630 | 632 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis II, LLC - West Village Student Housing Project), Series <br> 2018, 5.00% 5/15/2029  | 1000 | 1054 |
| County of Orange, Community Facs. Dist. No. 2023-1 (Rienda Phase 2B), Special Tax Bonds, Series 2023-A, 5.00% <br> 8/15/2027  | 145 | 150 |
| County of Orange, Community Facs. Dist. No. 2023-1 (Rienda Phase 2B), Special Tax Bonds, Series 2023-A, 5.00% <br> 8/15/2028  | 190 | 200 |
| Pollution Control Fncg. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2001-A, AMT, <br> 4.20% 7/1/2031 (put 7/2/2029)  | 500 | 507 |
| Public Works Board, Lease Rev. Bonds (Various Capital Projects), Series 2025-C, 5.00% 11/1/2028  | 1120 | 1203 |
| Public Works Board, Lease Rev. Ref. Bonds (Various Capital Projects), Series 2021-A, 5.00% 2/1/2029  | 2835 | 3064 |
| County of Riverside, Public Fncg. Auth., Tax Allocation Rev. Bonds (Project Area No. 1, Desert Communities and <br> Interstate 215 Corridor Projects), Series 2015-A, AGI, 5.00% 10/1/2026  | 1235 | 1236 |
| City of Sacramento, Community Drainage Facs. Dist. No. 97-1 (North Natomas), Special Tax Bonds, Series 2015, 5.00% <br> 9/1/2028  | 735 | 738 |
| City of Sacramento, Community Facs. Dist. No. 2018-03 (Greenbriar), Improvement Area No. 2, Special Tax Bonds, <br> Series 2024, 5.00% 9/1/2026  | 65 | 66 |
| City of Sacramento, Community Facs. Dist. No. 2018-03 (Greenbriar), Improvement Area No. 2, Special Tax Bonds, <br> Series 2024, 5.00% 9/1/2027  | 150 | 154 |
| City of Sacramento, Community Facs. Dist. No. 2018-03 (Greenbriar), Improvement Area No. 2, Special Tax Bonds, <br> Series 2024, 5.00% 9/1/2028  | 195 | 203 |
| City of Sacramento, Community Facs. Dist. No. 2018-03 (Greenbriar), Improvement Area No. 2, Special Tax Bonds, <br> Series 2024, 5.00% 9/1/2029  | 245 | 258 |
| City of San Diego, Housing Auth., Multi Family Housing Rev. Bonds, Series 2023-B, 5.00% 5/1/2057 (put 11/1/2026)  | 1155 | 1170 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Bonds, Series <br> 2025-A-2, AMT, 5.00% 5/1/2029  | 1000 | 1066 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Bonds, Series 2019-E, <br> AMT, 4.00% 5/1/2050 (preref. 5/1/2029)  | 1920 | 1953 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Ref. Bonds, Series <br> 2023-C, AMT, 5.00% 5/1/2033  | 1235 | 1389 |
| San Mateo Community College Dist., GO Bonds, CAB, 2005 Election, Series 2006-B, NATL, 0% 9/1/2031  | 2500 | 2147 |
| San Mateo Union High School Dist., GO Rev. Ref. Bonds, Series 2026, 5.00% 9/1/2030  | 1000 | 1106 |
| Santa Ana Unified School Dist., GO Bonds, CAB, 1999 Election, Series 2002-B, NATL, 0% 8/1/2030  | 435 | 382 |
| Southern California Public Power Auth., Clean Energy Project Rev. Bonds, Series 2024-A, 5.00% 4/1/2055 (put <br> 9/1/2030)  | 1910 | 2030 |
| Southern California Public Power Auth., Rev. Ref. Bonds (Canyon Power Project), Series 2025-B, 3.70% 7/1/2040 (put <br> 7/1/2027)  | 1560 | 1563 |
| Southern California Public Power Auth., Rev. Ref. Green Bonds (Milford Wind Corridor Phase II Project), Series 2021-1, <br> 5.00% 7/1/2031  | 655 | 735 |
| Statewide Communities Dev. Auth., Multi Family Housing Rev. Bonds (Vintage at Folsom), Series 2024-E-2, 5.00% <br> 10/1/2028 (put 10/1/2027)  | 90 | 93 |
| Statewide Communities Dev. Auth., Rev. Bonds (Kaiser Foundation Hospitals), Series 2025-A, 5.00% 10/1/2028 <sup>(a)</sup>  | 3300 | 3551 |
| Statewide Communities Dev. Auth., Rev. Bonds (Kaiser Foundation Hospitals), Series 2025-B, 5.00% 10/1/2032 <sup>(a)</sup>  | 2000 | 2300 |
| Statewide Communities Dev. Auth., Taxable Statewide Community Infrastructure Program Rev. Bonds, Series 2024-B-1, <br> 5.00% 9/2/2029  | 425 | 451 |
| Statewide Communities Dev. Auth., Taxable Statewide Community Infrastructure Program Rev. Bonds, Series 2024-B-1, <br> 5.00% 9/2/2030  | 450 | 483 |
| Tejon Ranch Public Facs. Fncg. Auth., Community Facs. Dist. No. 2008-1, Special Tax Rev. Ref. Bonds (Tejon Ranch <br> Industrial Complex Public Improvements - East), Series 2024-A, 5.00% 9/1/2030  | 1410 | 1517 |
| Tulare Joint Union High School Dist., GO Bonds, CAB, 2004 Election, Series 2004-A, NATL, 0% 8/1/2026  | 500 | 492 |
| Ukiah Unified School Dist., GO Bonds, CAB, 2005 Election, Series 2006, NATL, 0% 8/1/2028  | 1250 | 1164 |
| Regents of the University of California, General Rev. Bonds, Series 2025-CD, 5.00% 5/15/2030  | 7450 | 8309 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **214** |

---

------

Capital Group Short Duration Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **California (continued)** | **California (continued)** | **California (continued)** |
| Various Purpose GO Bonds, Series 2025, 5.00% 3/1/2028  | USD<br> 1,135<br>| $1200 |
| Various Purpose GO Bonds, Series 2025, 5.00% 8/1/2031  | 4000 | 4556 |
| Various Purpose GO Rev. Ref. Bonds, Series 2021, 5.00% 10/1/2029  | 2000 | 2197 |
| Various Purpose GO Rev. Ref. Bonds, Series 2025, 5.00% 3/1/2030  | 750 | 830 |
| Various Purpose GO Rev. Ref. Bonds, Series 2025, 5.00% 8/1/2030  | 1045 | 1167 |
| Various Purpose GO Rev. Ref. Bonds, Series 2025, 5.00% 8/1/2033  | 3165 | 3721 |
| West Contra Costa Unified School Dist., GO Bonds, 2020 Election, Series 2024-B, 5.00% 8/1/2026  | 2605 | 2646 |
| Western Riverside Water and Wastewater Fncg. Auth., Local Agcy. Rev. Ref. Bonds, Series 2016-A, 5.00% 9/1/2030  | 1035 | 1052 |
| Wright Elementary School Dist., GO Bonds, Series 2003-A, NATL, CAB, 0% 8/1/2028  | 435 | 402 |
|  |  | 128977 |
| **Colorado 2.87%** | **Colorado 2.87%** | **Colorado 2.87%** |
| Adams County School Dist. No. 14, GO Bonds, Series 2025, 5.00% 12/1/2032  | 1715 | 1970 |
| County of Adams, The Village at Dry Creek Metropolitan Dist. No. 2, Limited Tax GO and Special Rev. Bonds, Series <br> 2019, 4.375% 12/1/2044  | 425 | 418 |
| City of Aurora, Velocity Metropolitan Dist. No. 3, Limited Tax GO Bonds, Series 2019, 5.125% 12/1/2034  | 745 | 745 |
| City and County of Broomfield, Baseline Metropolitan Dist. No. 1, Special Rev. Ref. and Improvement Bonds, Series <br> 2024-A, AGI, 5.00% 12/1/2028  | 400 | 425 |
| Canyons Metropolitan Dist. No. 5, Limited Tax GO and Special Rev. Ref. and Improvement Bonds, Series 2024-A, BAM, <br> 5.00% 12/1/2030  | 205 | 224 |
| City of Centennial, Southglenn Metropolitan Dist., Special Rev. Ref. Bonds, Series 2016, 5.00% 12/1/2030  | 1285 | 1286 |
| City and County of Denver, Airport System Rev. Bonds, Series 2018-A, AMT, 5.00% 12/1/2029  | 1000 | 1054 |
| County of Eagle, The Village Metropolitan Dist., Special Rev. and Limited Property Tax Rev. Ref. and Improvement <br> Bonds, Series 2020, 4.15% 12/1/2030  | 935 | 935 |
| County of Elbert, Independence Water and Sanitation Dist., Special Rev. Ref. and Improvement Bonds, Series 2024, <br> 5.125% 12/1/2033  | 840 | 871 |
| Health Facs. Auth., Health Facs. Rev. and Rev. Ref. Bonds (Evangelical Lutheran Good Samaritan Society Project), Series <br> 2017, 5.00% 6/1/2026 (escrowed to maturity)  | 400 | 404 |
| Health Facs. Auth., Health Facs. Rev. and Rev. Ref. Bonds (Evangelical Lutheran Good Samaritan Society Project), Series <br> 2017, 5.00% 6/1/2047 (preref. 6/1/2027)  | 1000 | 1034 |
| Health Facs. Auth., Hospital Rev. Bonds (Parkview Medical Center, Inc. Project), Series 2016, 5.00% 9/1/2046 (preref. <br> 9/1/2026)  | 120 | 122 |
| Health Facs. Auth., Rev. Bonds (CommonSpirit Health), Series 2025-A, 5.00% 9/1/2032  | 2835 | 3169 |
| Health Facs. Auth., Rev. Bonds (Covenant Living Communities and Services), Series 2025-A, 5.00% 12/1/2029  | 1000 | 1060 |
| Health Facs. Auth., Rev. Bonds (Intermountain Healthcare), Series 2022-D, 3.87% 5/15/2061 (put 8/17/2026) <sup>(b)</sup>  | 3500 | 3499 |
| Health Facs. Auth., Rev. Ref. Bonds (Christian Living Neighborhoods Project), Series 2016, 5.00% 1/1/2031  | 500 | 500 |
| Health Facs. Auth., Rev. Ref. Bonds (Intermountain Health), Series 2024-A, 5.00% 5/15/2033  | 2000 | 2258 |
| Housing and Fin. Auth., Multi Family Housing Rev. Bonds, (Fitzsimons Gateway Apartment Project), Series 2024-B, <br> 3.18% 9/1/2028 (put 9/1/2027)  | 1160 | 1167 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2019-K, Class I, 3.875% 5/1/2050  | 1260 | 1264 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2021-L, Class I, 3.25% 11/1/2051  | 1600 | 1585 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2023-O, Class III, 6.50% 5/1/2054  | 1035 | 1152 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2025-J, Class III, 6.25% 5/1/2055  | 1500 | 1686 |
| Town of Johnstown, Thompson Crossing Metropolitan Dist. No. 4, Limited Tax GO Rev. Ref. and Improvement Bonds <br> (Convertible to Unlimited Tax), Series 2019, 3.50% 12/1/2029  | 518 | 510 |
|  |  | 27338 |
| **Connecticut 0.58%** | **Connecticut 0.58%** | **Connecticut 0.58%** |
| GO Bonds, Series 2019-A, 5.00% 4/15/2026  | 200 | 201 |
| GO Bonds, Series 2022-A, 4.00% 1/15/2027  | 1000 | 1016 |
| Health and Educational Facs. Auth., Rev. Bonds (Quinnipiac University Issue), Series 2016-M, 5.00% 7/1/2035  | 1075 | 1081 |
| Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2014-A, 2.80% 7/1/2048 (put 2/10/2026)  | 1845 | 1845 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2024-B, AMT, 4.125% <br> 11/15/2040  | 485 | 480 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2019-B-1, 4.00% 5/15/2049  | 485 | 490 |
| City of Stamford, Harbor Point Infrastructure Improvement Dist., Special Obligation Rev. Ref. Bonds (Harbor Point <br> Project), Series 2017, 5.00% 4/1/2030 <sup>(a)</sup>  | 400 | 405 |
|  |  | 5518 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **215** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Short Duration Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Delaware 0.31%** | **Delaware 0.31%** | **Delaware 0.31%** |
| Housing Auth., Single Family Mortgage Rev. Bonds, Series 2024-A, 5.75% 1/1/2055  | USD<br> 2,705<br>| $2950 |
| **District of Columbia 1.76%** | **District of Columbia 1.76%** | **District of Columbia 1.76%** |
| Housing Fin. Agcy., Collateralized Multi Family Housing Rev. Bonds (Belmont Crossing Phase II), Series 2025, 5.00% <br> 3/1/2029 (put 2/1/2028)  | 315 | 327 |
| Housing Fin. Agcy., Collateralized Multi Family Housing Rev. Bonds (The Edmonson), Series 2024, 5.00% 12/1/2028 <br> (put 12/1/2027)  | 2405 | 2496 |
| Housing Fin. Agcy., Multi Family Rev. Bonds, Series 2025-B, 3.15% 2/1/2030 (put 2/1/2029)  | 735 | 737 |
| Income Tax Secured Rev. Ref. Bonds, Series 2019-C, 5.00% 10/1/2026  | 2710 | 2762 |
| Income Tax Secured Rev. Ref. Bonds, Series 2020-B, 5.00% 10/1/2027  | 1205 | 1259 |
| Income Tax Secured Rev. Ref. Bonds, Series 2025-A, 5.00% 6/1/2030  | 1000 | 1106 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. and Rev. Ref. Bonds, Series 2019-A, AMT, 5.00% <br> 10/1/2028  | 1000 | 1058 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2020-B, AMT, 5.00% 10/1/2027  | 2000 | 2073 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2021-A, AMT, 5.00% 10/1/2029  | 1485 | 1595 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2022-A, AMT, 5.00% 10/1/2029  | 1570 | 1686 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2024-A, AMT, 5.00% 10/1/2033  | 375 | 423 |
| Washington Convention and Sports Auth., Dedicated Tax Rev. Ref. Bonds, Series 2018-A, 5.00% 10/1/2028  | 1250 | 1301 |
|  |  | 16823 |
| **Florida 6.22%** | **Florida 6.22%** | **Florida 6.22%** |
| County of Alachua, Health Facs. Auth., Continuing Care Retirement Community Rev. Bonds (Oak Hammock at the <br> University of Florida, Inc. Project), Series 2025-B-2, 3.75% 10/1/2030  | 235 | 235 |
| City of Atlantic Beach, Health Care Facs. Rev. Bonds (Fleet Landing Project), Series 2018-A, 5.00% 11/15/2029  | 420 | 433 |
| Babcock Ranch Community Independent Special Dist., Special Assessment Rev. Bonds, Series 2022, 4.125% 5/1/2027  | 640 | 641 |
| County of Brevard, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Emerald Place Apartments), Series 2025, <br> 3.30% 2/1/2028 (put 2/1/2027)  | 565 | 567 |
| County of Broward, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Tequesta Reserve), Series 2024, 3.15% <br> 3/1/2028 (put 3/1/2027)  | 2885 | 2887 |
| County of Broward, Port Facs. Rev. Ref. Bonds, Series 2019-D, AMT, 5.00% 9/1/2026  | 1000 | 1012 |
| Capital Trust Auth., Health Care Facs. Rev. and Rev. Ref. Bonds (UF Health Projects), Series 2025-A, 5.00% 12/1/2032  | 1660 | 1861 |
| Central Florida Expressway Auth., Rev. Ref. Bonds, Series 2016-B, 4.00% 7/1/2035 (preref. 7/1/2026)  | 3630 | 3657 |
| Counties of Charlotte and Lee, Babcock Ranch Community Independent Special Dist., Special Assessment Rev. Bonds, <br> Series 2024, 4.30% 5/1/2031 <sup>(a)</sup>  | 160 | 162 |
| County of Collier, Ave Maria Stewardship Community Dist., Capital Improvement Rev. Bonds (Phase 5 Master <br> Improvements Project), Series 2025, 4.00% 5/1/2030  | 470 | 470 |
| Dev. Fin. Corp., Solid Waste Disposal Rev. Bonds (GFL Solid Waste Southeast LLC Project), Series 2024-A, AMT, 4.375% <br> 10/1/2054 (put 10/1/2031) <sup>(a)</sup>  | 2185 | 2212 |
| Dev. Fin. Corp., Solid Waste Disposal Rev. Bonds (Waste Pro USA, Inc. Project), Series 2019, AMT, 5.00% 5/1/2029 <sup>(a)</sup>  | 750 | 757 |
| Dev. Fin. Corp., Solid Waste Disposal Rev. Bonds (Waste Pro USA, Inc. Project), Series 2023, AMT, 6.125% 7/1/2032 <br> (put 7/1/2026) <sup>(a)</sup>  | 2640 | 2652 |
| Dev. Fin. Corp., Solid Waste Disposal Rev. Bonds (Waste Pro USA, Inc. Project), Series 2025, AMT, 4.45% 7/1/2037 (put <br> 4/2/2030) <sup>(a)</sup>  | 250 | 252 |
| Board of Education, Public Education Capital Outlay Rev. Ref. Bonds, Series 2024-A, 5.00% 6/1/2034  | 570 | 672 |
| Harbor Bay Community Dev. Dist., Capital Improvement Rev. Bonds, Series 2019-A-1, 3.30% 5/1/2029  | 490 | 487 |
| Harbor Bay Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2019-A-2, 3.30% 5/1/2029  | 500 | 497 |
| Harbor Bay Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2019-A-2, 3.30% 5/1/2029  | 245 | 243 |
| City of Hialeah, Two Lakes Community Dev. Dist., Special Assessment Bonds, Series 2024, 5.00% 5/1/2030  | 615 | 655 |
| County of Hillsborough, Aviation Auth., Tampa International Airport Rev. Bonds, Series 2022-A, AMT, 5.00% 10/1/2028  | 1500 | 1584 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2018-2, 4.25% 1/1/2050  | 1875 | 1884 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2019-1, 4.00% 7/1/2050  | 870 | 874 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2020-1, 3.50% 7/1/2051  | 1535 | 1531 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2021-1, 3.00% 1/1/2052  | 1540 | 1523 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2024-5, 6.25% 1/1/2055  | 240 | 263 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2025-1, 6.25% 1/1/2056  | 2030 | 2245 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds (Magnolia Trail), Series 2025-Z, 3.15% 7/1/2043 (put 1/1/2029)  | 1625 | 1628 |
| Housing Fin. Corp., Multi Family Mortgage Housing Rev. Bonds (Arbours at Emerald Springs), Series 2025-L, 3.15% <br> 12/1/2028 (put 12/1/2027)  | 295 | 296 |
| Housing Fin. Corp., Multi Family Mortgage Rev. Bonds (Mariposa Grove), Series 2025-R, 3.15% 1/1/2044 (put <br> 1/1/2029)  | 3110 | 3115 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **216** |

---

------

Capital Group Short Duration Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Florida (continued)** | **Florida (continued)** | **Florida (continued)** |
| Housing Fin. Corp., Multi Family Mortgage Rev. Bonds (Southward Village CNI Phase 2), Series 2025-T, 3.20% <br> 12/1/2044 (put 12/1/2028)  | USD<br> 695<br>| $697 |
| Housing Fin. Corp., Multi Family Mortgage Rev. Bonds (URICK Street Apartments), Series 2025-P-2, 3.20% 7/1/2029 <br> (put 7/1/2028)  | 2525 | 2530 |
| Jacksonville Housing Fin. Auth., Multi Family Housing Rev. Bonds (Village At Lake Forest), Series 2025, 3.15% 1/1/2046 <br> (put 7/1/2029)  | 1830 | 1835 |
| Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Del Webb Project), Series 2017, 4.30% <br>5/1/2027 <sup>(a)</sup>  | 220 | 221 |
| Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Lake Club Phase 4 Project), Series 2019, 3.80% <br> 5/1/2049  | 180 | 180 |
| Local Government Fin. Commission, Senior Living Rev. Bonds (Fleet Landing at Nocatee Project), Series 2025B-1, <br> 4.20% 11/15/2030 <sup>(a)</sup>  | 340 | 342 |
| County of Manatee, Heritage Harbour North Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series <br> 2017-A-1, 5.00% 5/1/2026  | 810 | 815 |
| City of Miami, Midtown Miami Community Dev. Dist., Special Assessment and Rev. Ref. Bonds (Infrastructure Project), <br> Series 2014-B, 5.00% 5/1/2029  | 410 | 410 |
| County of Miami-Dade, Aviation Rev. Ref. Bonds, Series 2024-A, AMT, 5.00% 10/1/2027  | 950 | 983 |
| County of Miami-Dade, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Residences At Palm Court), Series <br> 2025-B, 2.95% 9/1/2029 (put 9/1/2028)  | 1210 | 1206 |
| County of Miami-Dade, Industrial Dev. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. of Florida <br> Project), Series 2011, AMT, 3.45% 11/1/2041 (put 11/2/2026)  | 510 | 511 |
| County of Miami-Dade, Sawyers Landing Community Dev. Dist., Special Assessment Rev. Bonds, Series 2021, 3.75% <br> 5/1/2031  | 500 | 501 |
| North Miami Community Redev. Agcy., Redev. Rev. Bonds, Series 2024, 5.00% 3/1/2027  | 1190 | 1216 |
| North Miami Community Redev. Agcy., Redev. Rev. Bonds, Series 2024, 5.00% 3/1/2028  | 940 | 978 |
| City of North Port, West Villages Improvement Dist., Special Assessment Rev. Bonds (Unit of Dev. No. 8), Series 2021, <br> 3.125% 5/1/2031  | 525 | 497 |
| County of Orange, Health Facs. Auth., Health Care Facs. Rev. Bonds (Presbyterian Retirement Communities Project), <br> Series 2015, 5.00% 8/1/2028  | 1000 | 1001 |
| County of Orange, Health Facs. Auth., Hospital Rev. Ref. Bonds (Orlando Health Obligated Group), Series 2016-A, <br> 5.00% 10/1/2033  | 1240 | 1257 |
| County of Pinellas, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Indigo Apartments), Series 2025, 3.40% <br> 7/1/2028 (put 7/1/2027)  | 1420 | 1429 |
| City of Pompano Beach, Rev. Bonds (John Knox Village Project), Series 2015, 3.125% 9/1/2028  | 100 | 99 |
| City of Pompano Beach, Rev. Bonds (John Knox Village Project), Series 2015, 3.25% 9/1/2030  | 200 | 198 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Special Assessment Rev. Ref. Bonds, Series 2022-B, <br> 3.00% 5/1/2032  | 1535 | 1457 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Special Assessment Rev. Ref. Bonds, Series 2022-C, <br> 3.20% 5/1/2032  | 1480 | 1402 |
| Talavera Community Dev. Dist., Capital Improvement Rev. Bonds, Series 2019, 3.85% 5/1/2030  | 540 | 535 |
| Dept. of Transportation, Right-of-Way Acquisition and Bridge Construction Bonds, Series 2021-B, 5.00% 7/1/2026  | 905 | 916 |
| Village Community Dev. Dist. No. 16, Special Assessment Rev. Bonds, Series 2025, 3.55% 5/1/2030  | 1000 | 1004 |
| City of Wildwood, Village Community Dev. Dist. No. 12, Special Assessment Rev. Bonds, Series 2018, 3.80% 5/1/2028  | 1100 | 1106 |
| City of Wildwood, Village Community Dev. Dist. No. 13, Special Assessment Rev. Bonds, Series 2021, 1.80% 5/1/2026  | 200 | 199 |
| City of Wildwood, Village Community Dev. Dist. No. 15, Special Assessment Rev. Bonds, Series 2024, 3.75% <br>5/1/2029 <sup>(a)</sup>  | 275 | 277 |
| Windward at Lakewood Ranch Community Dev. Dist., Capital Improvement Rev. Bonds (Phase 2 Project), Series 2022, <br> 3.25% 5/1/2027  | 225 | 222 |
|  |  | 59319 |
| **Georgia 1.81%** | **Georgia 1.81%** | **Georgia 1.81%** |
| City of Atlanta, Airport General Rev. Green Bonds, Series 2025-B, AMT, 5.00% 7/1/2033  | 1500 | 1686 |
| City of Atlanta, Urban Residential Fin. Auth., Multi Family Housing Rev. Bonds (Auburn Square), Series 2025-B, 3.15% <br> 2/1/2030 (put 2/1/2029)  | 1675 | 1678 |
| City of Atlanta, Urban Residential Fin. Auth., Multi Family Housing Rev. Bonds (Martin House), Series 2025, 3.20% <br> 5/1/2029 (put 5/1/2028)  | 810 | 811 |
| City of Atlanta, Urban Residential Fin. Auth., Multi Family Rev. Bonds (North Block), Series 2025, 3.40% 2/1/2029 (put <br> 2/1/2028)  | 250 | 252 |
| County of Burke, Dev. Auth., Pollution Control Rev. Bonds (Georgia Power Co. Plant Vogtle Project), Series 1994-5, <br> 3.70% 10/1/2032 (put 6/13/2028)  | 455 | 462 |
| City of Columbus, Housing Auth., Multi Family Housing Rev. Bonds (HACG RAD II Project), Series 2025, 3.30% <br> 11/1/2028 (put 11/1/2027)  | 290 | 292 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **217** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Short Duration Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Georgia (continued)** | **Georgia (continued)** | **Georgia (continued)** |
| City of Decatur, Housing Auth., Multi Family Housing Rev. Bonds (Philips Tower Project), Series 2025, 3.25% 9/1/2028 <br> (put 9/1/2027)  | USD<br> 145<br>| $145 |
| County of Douglas, Housing Auth., Multi Family Housing Rev. Bonds (Astoria At Crystal Lake Project), Series 2024-B, <br> 5.00% 10/1/2028 (put 10/1/2027)  | 580 | 599 |
| County of Fayette Dev., Auth. Rev. Bonds (United States Soccer Federation, Inc. Project), Series 2024, 5.00% 10/1/2028  | 325 | 342 |
| Geo. L. Smith II Georgia World Congress Center Auth., Convention Center Hotel First Tier Rev. Bonds, Series 2021-A, <br> 2.375% 1/1/2031  | 500 | 470 |
| GO Bonds, Series 2023-C, 4.00% 1/1/2026  | 300 | 300 |
| City of Homerville, Housing Auth. Multi Family Housing Rev. Bonds, Series 2024, 3.45% 1/1/2028 (put 1/1/2027)  | 300 | 301 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2025-G, 6.25% 12/1/2055  | 500 | 566 |
| City of Lawrenceville, Housing Auth., Multi Family Housing Rev. Bonds (Applewood Towers Project), Series 2024-B, <br> 5.00% 10/1/2028 (put 10/1/2027)  | 948 | 981 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2021-A, 4.00% 7/1/2052 (put 9/1/2027)  | 1500 | 1515 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2023-B, 5.00% 7/1/2053 (put 3/1/2030)  | 1000 | 1056 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2024-B, 5.00% 12/1/2054 (put 3/1/2032)  | 335 | 359 |
| Municipal Electric Auth., General Resolution Projects Bonds, Series 2024-A, 5.00% 1/1/2026  | 500 | 500 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project J Bonds, Series 2023-A, AGI, 5.00% 7/1/2027  | 350 | 363 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2019-A, 5.00% 1/1/2029  | 1390 | 1462 |
| Municipal Electric Auth., Project One Bonds, Series 2019-A, 5.00% 1/1/2028  | 1270 | 1328 |
| Municipal Electric Auth., Project One Bonds, Series 2019-A, 5.00% 1/1/2029  | 1655 | 1765 |
|  |  | 17233 |
| **Guam 0.16%** | **Guam 0.16%** | **Guam 0.16%** |
| Business Privilege Tax Rev. Ref. Bonds, Series 2021-F, 5.00% 1/1/2030  | 1000 | 1074 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2025-G, 5.00% 1/1/2032  | 285 | 313 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2025-G, 5.00% 1/1/2033  | 155 | 172 |
|  |  | 1559 |
| **Hawaii 0.38%** | **Hawaii 0.38%** | **Hawaii 0.38%** |
| City and County of Honolulu, GO Bonds, Series 2023-A, 5.00% 7/1/2026  | 1000 | 1012 |
| City and County of Honolulu, GO Bonds, Series 2023-B, 5.00% 7/1/2026  | 1260 | 1276 |
| City and County of Honolulu, GO Bonds, Series 2017-A, 5.00% 9/1/2026  | 1050 | 1067 |
| City and County of Honolulu, Multifamily Housing Rev. Bonds (Maunakea Tower Apartments), Series 2023, 5.00% <br> 6/1/2027 (put 6/1/2026)  | 225 | 227 |
|  |  | 3582 |
| **Idaho 0.02%** | **Idaho 0.02%** | **Idaho 0.02%** |
| Health Facs. Auth., Rev. Bonds (St. Luke's Health System Project), Series 2018-A, 5.00% 3/1/2037  | 205 | 215 |
| **Illinois 5.12%** | **Illinois 5.12%** | **Illinois 5.12%** |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2023-A, 5.50% 12/1/2031  | 1000 | 1054 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2018-C, AGI, 5.00% <br> 12/1/2027  | 350 | 361 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, AGI, 5.00% <br> 12/1/2028  | 750 | 786 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, AGI, 5.00% <br> 12/1/2030  | 150 | 157 |
| City of Chicago, Board of Education, Unlimited Tax GO Rev. Ref. Bonds (Dedicated Rev.), Series 2025-C, 5.50% <br> 12/1/2032  | 470 | 497 |
| City of Chicago, GO Bonds (City Colleges of Chicago Capital Improvement Project), CAB, Series 1999, NATL, 0% <br> 1/1/2026 (escrowed to maturity)  | 500 | 500 |
| City of Chicago, GO Rev. Ref. Bonds, Series 2020-A, 5.00% 1/1/2026  | 1025 | 1025 |
| City of Chicago, GO Rev. Ref. Bonds, Series 2020-A, 5.00% 1/1/2027  | 1000 | 1012 |
| City of Chicago, Multi Family Housing Rev. Bonds (Sacred Apartments), Series 2025-B, 3.40% 6/1/2029 (put 6/1/2028)  | 3000 | 3029 |
| City of Chicago, O'Hare International Airport, General Airport Rev. Ref. Bonds, Series 2016, 5.00% 1/1/2026  | 870 | 870 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2017, 5.00% 11/1/2028  | 2000 | 2081 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2017-2, AGI, 5.00% 11/1/2031  | 1000 | 1036 |
| Fin. Auth., Graduate and Professional Student Loan Program Rev. Bonds (Midwestern University Foundation), Series <br> 2025-A, 5.00% 7/1/2030  | 295 | 313 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **218** |

---

------

Capital Group Short Duration Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Illinois (continued)** | **Illinois (continued)** | **Illinois (continued)** |
| Fin. Auth., Graduate and Professional Student Loan Program Rev. Bonds (Midwestern University Foundation), Series <br> 2025-A, 5.00% 7/1/2032  | USD<br> 190<br>| $204 |
| Fin. Auth., Graduate and Professional Student Loan Program Rev. Bonds (Midwestern University Foundation), Series <br> 2025-A, 4.25% 7/1/2041  | 135 | 137 |
| Fin. Auth., Rev. Bonds (Advocate Health Care Network), Series 2015-B, 5.00% 5/1/2027  | 225 | 225 |
| Fin. Auth., Rev. Bonds (Ascension Health Alliance), Series 2016-C, 5.00% 2/15/2041 (preref. 2/15/2027)  | 230 | 236 |
| Fin. Auth., Rev. Bonds (Edward-Elmhurst Healthcare), Series 2017-A, 5.00% 1/1/2030 (preref. 1/1/2027)  | 545 | 558 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2016-A, 5.00% 11/1/2029  | 540 | 547 |
| Fin. Auth., Rev. Bonds (Rush University For Health), Series 2025-A, 5.00% 11/15/2030  | 2500 | 2697 |
| Fin. Auth., Rev. Bonds (The Moorings of Arlington Heights), Series 2025-B-2, 3.65% 5/1/2031  | 2230 | 2232 |
| Fin. Auth., Rev. Green Bonds (Clean Water Initiative Revolving Fund), Series 2025-C, 5.00% 7/1/2028  | 300 | 319 |
| Fin. Auth., Rev. Green Bonds (Clean Water Initiative Revolving Fund), Series 2025-C, 5.00% 7/1/2030  | 465 | 514 |
| Fin. Auth., Rev. Ref. Bonds (Smith Crossing), Series 2022, 4.00% 10/15/2027  | 485 | 484 |
| Fin. Auth., Rev. Ref. Bonds (Smith Crossing), Series 2022, 4.00% 10/15/2029  | 515 | 514 |
| Fin. Auth., Rev. Ref. Bonds (Smith Crossing), Series 2022, 4.00% 10/15/2030  | 400 | 399 |
| Fin. Auth., Rev. Ref. Green Bonds (Clean Water Initiative Revolving Fund), Series 2025-B, 5.00% 7/1/2030  | 750 | 830 |
| GO Bonds, Series 2024-B, 5.00% 5/1/2026  | 310 | 312 |
| GO Bonds, Series 2016, 5.00% 6/1/2026  | 2970 | 2997 |
| GO Bonds, Series 2025-C, 5.25% 9/1/2032  | 4000 | 4525 |
| Housing Dev. Auth., Homeowner Mortgage Rev. Bonds, Series 2018-A-1, 4.00% 8/1/2048  | 920 | 924 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (Lakeside Tower), Series 2025-B, 3.15% 8/1/2029 (put 8/1/2028)  | 305 | 305 |
| Housing Dev. Auth., Multi Family Rev. Green Bonds, Series 2024-C-2, FHA, 3.60% 8/1/2032 (put 8/1/2028)  | 1900 | 1921 |
| Housing Dev. Auth., Rev. Bonds, Series 2021-D, 3.00% 10/1/2051  | 2200 | 2167 |
| Housing Dev. Auth., Rev. Bonds, Series 2024-I, 6.00% 10/1/2055  | 990 | 1100 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, CAB, Series 2002-A, NATL, 0% <br> 6/15/2031  | 635 | 532 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, CAB, Series 2002-A, NATL, 0% <br> 12/15/2032  | 500 | 396 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2024-B, 4.00% <br> 12/15/2026  | 1530 | 1544 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2023-A, 5.00% <br> 12/15/2027  | 605 | 627 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, CAB, Series 2010-B-1, <br> AGI, 0% 6/15/2027  | 665 | 636 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, CAB, Series 1994, NATL, <br> 0% 6/15/2029  | 40 | 36 |
| Railsplitter Tobacco Settlement Auth., Tobacco Settlement Rev. Bonds, Series 2017, 5.00% 6/1/2027 (preref. 6/1/2026)  | 3075 | 3105 |
| Sales Tax Securitization Corp., Sales Tax Securitization Rev. Ref. Bonds, Series 2023-A, 5.00% 1/1/2034  | 1000 | 1100 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2019-B, 5.00% 1/1/2026  | 3000 | 3000 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2016-B, 5.00% 1/1/2027  | 975 | 986 |
|  |  | 48830 |
| **Indiana 0.85%** | **Indiana 0.85%** | **Indiana 0.85%** |
| Fin. Auth., Health System Rev. Bonds (Indiana University Health), Series 2025-D-1, 5.00% 10/1/2064 (put 10/1/2029)  | 1550 | 1656 |
| Fin. Auth., Midwestern Disaster Relief Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2012-A, 4.25% 11/1/2030  | 1000 | 1028 |
| Fin. Auth., Rev. Bonds (Ascension Senior Credit Group), Series 2025-A-1, 5.00% 11/15/2028  | 835 | 889 |
| Fin. Auth., Rev. Bonds (BHI Senior Living Obligated Group), Series 2018-A, 5.00% 11/15/2027  | 1050 | 1073 |
| Fin. Auth., Rev. Ref. Bonds (Greencroft Obligated Group), Series 2023-A, 4.00% 11/15/2026  | 1000 | 1002 |
| Fin. Auth., State Revolving Fund Program Green Bonds, Series 2019-E, 5.00% 2/1/2030  | 840 | 901 |
| Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2025-1A, AMT, 5.00% <br> 6/1/2030  | 1040 | 1096 |
| Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2025-1A, AMT, 4.00% <br> 6/1/2046  | 275 | 267 |
| City of Valparaiso, Exempt Facs. Rev. Ref. Bonds (Pratt Paper (IN), LLC Project), Series 2024, AMT, 4.50% 1/1/2034 <sup>(a)</sup>  | 145 | 148 |
|  |  | 8060 |
| **Iowa 1.30%** | **Iowa 1.30%** | **Iowa 1.30%** |
| Fin. Auth., Single Family Mortgage Bonds, Series 2022-A, 3.00% 1/1/2052  | 190 | 187 |
| Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2019-A, 4.00% 7/1/2047  | 535 | 540 |
| Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2019-D, 3.50% 1/1/2049  | 880 | 877 |
| PEFA, Inc., Gas Project Rev. Bonds, Series 2019, 5.00% 9/1/2049 (put 9/1/2026)  | 9000 | 9082 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **219** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Short Duration Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Iowa (continued)** | **Iowa (continued)** | **Iowa (continued)** |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2024-B, AMT, 5.00% 12/1/2027  | USD<br> 580<br>| $597 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2025-B, AMT, 5.00% 12/1/2030  | 280 | 298 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2025-B, AMT, 5.00% 12/1/2031  | 275 | 295 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2025-B, AMT, 4.50% 12/1/2045  | 510 | 526 |
|  |  | 12402 |
| **Kansas 0.22%** | **Kansas 0.22%** | **Kansas 0.22%** |
| Dev. Fin. Auth., Multi Family Rev. Bonds (Seasons), Series 2025-F, 2.95% 9/1/2059 (put 9/1/2027)  | 1000 | 998 |
| City of Manhattan, Health Care Facs. Rev. Bonds (Meadowlark Hills), Series 2021-A, 4.00% 6/1/2026  | 315 | 315 |
| City of Wichita, Multi Family Housing Rev. Bonds (Market Centre Apartments), Series 2025-4, 3.15% 2/1/2030 (put <br> 2/1/2029)  | 820 | 822 |
|  |  | 2135 |
| **Kentucky 3.01%** | **Kentucky 3.01%** | **Kentucky 3.01%** |
| City of Henderson, Exempt Facs. Rev. Bonds (Pratt Paper, LLC Project), Series 2022-B, AMT, 3.70% 1/1/2032 <sup>(a)</sup>  | 1000 | 1000 |
| Higher Education Student Loan Corp., Student Loan Rev. Bonds, Series 2025-A-1, AMT, 5.00% 6/1/2033  | 700 | 741 |
| Higher Education Student Loan Corp., Student Loan Rev. Bonds, Series 2025-A-1, AMT, 4.75% 6/1/2040  | 1180 | 1210 |
| Housing Corp., Multi Family Housing Rev. Bonds (Beecher Terrace Phase IV Project), Series 2023, 5.00% 9/1/2043 (put <br> 9/1/2026)  | 1790 | 1796 |
| Housing Corp., Multi Family Housing Rev. Bonds (Winterwood III Rural Housing Portfolio), Series 2024, 3.50% 7/1/2028 <br> (put 7/1/2027)  | 1000 | 1006 |
| Louisville/Jefferson Metro County Government, Health System Rev. Bonds (Norton Healthcare, Inc.), Series 2016-A, <br> 5.00% 10/1/2033  | 1025 | 1038 |
| Louisville/Jefferson Metro County Government, Pollution Control Rev. Bonds (Louisville Gas and Electric Co. Project), <br> Series 2003-A, 2.00% 10/1/2033  | 530 | 463 |
| County of Owen, Water Facs. Rev. Ref. Bonds (Kentucky - American Water Co. Project), Series 2020, 3.875% 6/1/2040 <br> (put 9/1/2028)  | 2500 | 2553 |
| City of Paducah, Electric Plant Board, Rev. Ref. Bonds, Series 2016-A, AGI, 5.00% 10/1/2027  | 2000 | 2032 |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2019-C-1, 4.00% 2/1/2050 (put 2/1/2028)  | 1000 | 1013 |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2022-A-1, 4.00% 8/1/2052 (put 8/1/2030)  | 4070 | 4111 |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2024-A-1, 5.00% 5/1/2055 (put 7/1/2030)  | 3000 | 3154 |
| Public Energy Auth., Gas Supply Rev. Ref. Bonds, Series 2025-A, 5.25% 6/1/2055 (put 12/1/2029)  | 5540 | 5863 |
| Sate Property and Buildings Commission, Rev. Bonds (Project No. 112), Series 2016-A, 5.00% 2/1/2028  | 700 | 701 |
| County of Trimble, Pollution Control Rev. Ref. Bonds (Louisville Gas and Electric Co. Project), Series 2016-A, AMT, <br> 1.30% 9/1/2044 (put 9/1/2027)  | 1000 | 953 |
| Turnpike Auth., Econ. Dev. Road Rev. Ref. Bonds (Revitalization Projects), Series 2022-A, 5.00% 7/1/2031  | 1000 | 1122 |
|  |  | 28756 |
| **Louisiana 0.78%** | **Louisiana 0.78%** | **Louisiana 0.78%** |
| Housing Corp., Multi Family Housing Rev. Bonds (BW Cooper Senior Project), Series 2025, 3.20% 8/1/2029 (put <br> 8/1/2028)  | 625 | 626 |
| Housing Corp., Multi Family Housing Rev. Bonds (Capstone at Covington Place Project), Series 2025, 3.10% 5/1/2043 <br> (put 5/1/2028)  | 1145 | 1147 |
| Housing Corp., Multi Family Housing Rev. Bonds (NSA East Bank Apartments Project), Series 2025, 3.15% 4/1/2030 <br> (put 4/1/2029)  | 2630 | 2637 |
| Housing Corp., Single Family Mortgage Rev. Bonds (Home Ownership Program), Series 2023-A, 5.75% 6/1/2054  | 1850 | 2001 |
| Public Facs. Auth., Solid Waste Disposal Rev. Bonds (Waste Pro USA, Inc. Project), Series 2023-R-2, AMT, 6.50% <br> 10/1/2053 (put 10/1/2028) <sup>(a)</sup>  | 500 | 525 |
| Parish of St. James, Rev. Bonds (NuStar Logistics, LP Project), Series 2011, 3.70% 8/1/2041 (put 6/1/2030)  | 450 | 456 |
|  |  | 7392 |
| **Maine 0.16%** | **Maine 0.16%** | **Maine 0.16%** |
| Fin. Auth., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2015-R-3, AMT, 5.00% <br> 8/1/2035 <sup>(a)</sup>  | 115 | 119 |
| Fin. Auth., Student Loan Rev. Bonds (Supplemental Education Loan Program), Series 2025-A-1, AMT, AGI, 5.00% <br> 12/1/2036  | 1280 | 1378 |
|  |  | 1497 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **220** |

---

------

Capital Group Short Duration Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Maryland 0.89%** | **Maryland 0.89%** | **Maryland 0.89%** |
| City of Baltimore, Stadium Auth., Construction and Revitalization Program Rev. Bonds, Series 2016, 5.00% 5/1/2035 <br> (preref. 5/1/2026)  | USD<br> 125<br>| $126 |
| County of Baltimore, Rev. Bonds (Riderwood Village, Inc. Fac.), Series 2020, 4.00% 1/1/2029  | 1000 | 1025 |
| Mayor and City Council of Baltimore, Special Obligation Rev. Ref. Bonds (Harbor Point Project), Series 2019-A, 2.95% <br> 6/1/2027 <sup>(a)</sup>  | 175 | 173 |
| Mayor and City Council of Baltimore, Special Obligation Rev. Ref. Bonds (Harbor Point Project), Series 2019-A, 3.05% <br> 6/1/2028 <sup>(a)</sup>  | 190 | 187 |
| Mayor and City Council of Baltimore, Special Obligation Rev. Ref. Bonds (Harbor Point Project), Series 2019-A, 3.15% <br> 6/1/2029 <sup>(a)</sup>  | 200 | 196 |
| GO Bonds, State and Local Facs. Loan of 2024, Series 2024-A-1, 5.00% 6/1/2034  | 500 | 587 |
| GO Bonds, State and Local Facs. Loan of 2025, Series 2025-B-1, 5.00% 8/1/2029  | 3000 | 3265 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Maryland Institute College of Art Issue), Series 2024, 5.25% <br> 6/1/2029  | 500 | 522 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (The Johns Hopkins Health System Issue), Series 2025-A, 5.00% <br> 5/15/2032  | 2160 | 2442 |
|  |  | 8523 |
| **Massachusetts 1.03%** | **Massachusetts 1.03%** | **Massachusetts 1.03%** |
| Dev. Fin. Agcy., Rev. Bonds (Gingercare Living Issue), Series 2024-B-3, 4.75% 12/1/2029 <sup>(a)</sup>  | 2700 | 2701 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2024-B, AMT, 4.25% 7/1/2032  | 455 | 464 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2022-B, AMT, 3.625% 7/1/2038  | 355 | 354 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2023-B, AMT, 4.25% 7/1/2044  | 390 | 390 |
| Health and Educational Facs. Auth., Rev. Bonds (University of Massachusetts Issue), Series 2000-A, 2.45% 11/1/2030 <br> (put 4/1/2026)  | 900 | 898 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 223, 3.00% 6/1/2047  | 1345 | 1328 |
| School Building Auth., Sales Tax Rev. Ref. Bonds (Social Bonds), Series 2025-B, 5.00% 2/15/2033  | 1895 | 2207 |
| Dept. of Transportation Metropolitan Highway System Rev. Ref. Bonds, Series 2019-A, 5.00% 1/1/2027  | 1480 | 1517 |
|  |  | 9859 |
| **Michigan 1.93%** | **Michigan 1.93%** | **Michigan 1.93%** |
| City of Detroit, Unlimited Tax GO Bonds, Series 2018, 5.00% 4/1/2027  | 1000 | 1022 |
| City of Grand Rapids Econ. Dev. Corp., Rev. Bonds (Beacon Hill at Eastgate Project), Series 2025-B-3, 4.125% <br> 11/1/2030  | 4000 | 4003 |
| Hospital Fin. Auth., Rev. Bonds (Ascension Health Credit Group), Series 2010-F-6, 4.00% 11/15/2047 (preref. <br> 11/15/2026)  | 1020 | 1032 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (4401 Rosa Parks Apartments Project), Series 2025, 5.00% <br> 2/1/2028 (put 2/1/2027)  | 1060 | 1083 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (Kalamazoo Community Courtyard Project), Series 2025, 5.00% <br> 12/1/2027 (put 12/1/2026)  | 1500 | 1524 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (North Port Apartments Project), Series 2025, 5.00% 8/1/2027 <br> (put 8/1/2026)  | 2230 | 2256 |
| Housing Dev. Auth., Rental Housing Rev. Bonds, Series 2024-A, 3.70% 4/1/2030  | 30 | 30 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2017-B, 3.50% 6/1/2048  | 895 | 894 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2018-A, 4.00% 12/1/2048  | 920 | 923 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2018-C, 4.25% 6/1/2049  | 1040 | 1048 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-A, 3.00% 6/1/2052  | 1435 | 1414 |
| Strategic Fund, Limited Obligation Rev. Bonds (Consumers Energy Co. Project), Series 2019, AMT, 3.35% 10/1/2049 <br> (put 10/1/2027)  | 2090 | 2087 |
| County of Wayne, Airport Auth., Airport Rev. Bonds (Detroit Metropolitan Wayne County Airport), Series 2023-B, AMT, <br> AGI, 5.00% 12/1/2030  | 970 | 1060 |
|  |  | 18376 |
| **Minnesota 0.88%** | **Minnesota 0.88%** | **Minnesota 0.88%** |
| GO State Trunk Highway Rev. Ref. Bonds, Series 2022-B, 5.00% 8/1/2028  | 2000 | 2127 |
| County of Hennepin, Housing and Redev. Auth., Multi Family Rev. Bonds (South Haven and Summit Point Apartments <br> Project), Series 2025, 3.15% 2/1/2046 (put 8/1/2028)  | 1720 | 1722 |
| Higher Education Supplemental Loan Auth., Rev. Bonds, Series 2020, AMT, 2.65% 11/1/2038  | 100 | 93 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2022-C, 3.50% 7/1/2052  | 665 | 663 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **221** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Short Duration Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Minnesota (continued)** | **Minnesota (continued)** | **Minnesota (continued)** |
| City of Rochester, Health Care Facs. Rev. Bonds (Mayo Clinic), Series 2025-D, 1.70% 11/15/2064 <sup>(b)</sup>  | USD<br> 1,700<br>| $1700 |
| Various Purpose GO Bonds, Series 2022-A, 5.00% 8/1/2026  | 1685 | 1710 |
| County of Washington, Community Dev. Agcy., Multi Family Housing Rev. Bonds (Red Rock Manor Project), Series <br> 2025, 3.15% 2/1/2046 (put 8/1/2028)  | 405 | 406 |
|  |  | 8421 |
| **Mississippi 0.42%** | **Mississippi 0.42%** | **Mississippi 0.42%** |
| Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron USA, Inc. Project), Series 2007-D, <br> 2.50% 12/1/2030 <sup>(b)</sup>  | 2700 | 2700 |
| Business Fin. Corp., Solid Waste Disposal, Rev. Bonds (Waste Pro USA, Inc. Project), Series 2025-A, AMT, 4.375% <br> 2/1/2048 (put 8/2/2027) <sup>(a)</sup>  | 1275 | 1276 |
|  |  | 3976 |
| **Missouri 0.82%** | **Missouri 0.82%** | **Missouri 0.82%** |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (CoxHealth), Series 2025-A, 5.00% 11/15/2032  | 750 | 837 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Ref. Bonds (Lutheran Senior Services), Series 2016-A, <br> 5.00% 2/1/2028  | 415 | 415 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series <br> 2024-G, 5.50% 5/1/2055  | 955 | 1026 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series <br> 2024-C, 6.00% 5/1/2055  | 360 | 399 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series <br> 2024-E, 6.00% 5/1/2055  | 3020 | 3357 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series <br> 2025-A, 6.00% 5/1/2056  | 1380 | 1513 |
| City of Kansas City, Industrial Dev. Auth., Sales Tax Rev. Ref. and Improvement Bonds (Ward Parkway Center <br> Community Improvement Dist.), Series 2016-A, 4.25% 4/1/2026 <sup>(a)</sup>  | 100 | 100 |
| City of St. Louis, Industrial Dev. Auth., Multi Family Rev. Bonds (The Brewery Apartments), Series 2025, 3.15% 4/1/2046 <br> (put 4/1/2028)  | 190 | 190 |
|  |  | 7837 |
| **Montana 0.66%** | **Montana 0.66%** | **Montana 0.66%** |
| Board of Housing, Multi Family Housing Rev. Bonds (Aspen Village Apartments Project), Series 2025, 2.90% 12/1/2028 <br> (put 12/1/2026)  | 1825 | 1820 |
| Board of Housing, Multi Family Housing Rev. Bonds (Aurora Apartments), Series 2024, 3.32% 7/1/2046 (put 2/1/2028)  | 1245 | 1252 |
| Board of Housing, Multi Family Housing Rev. Bonds (Twin Creek 4 Apartments Project), Series 2024, 5.00% 9/1/2028 <br> (put 9/1/2027)  | 361 | 373 |
| Board of Housing, Single Family Mortgage Bonds, Series 2019-A, FHA, 4.25% 12/1/2045  | 1340 | 1348 |
| Board of Housing, Single Family Mortgage Bonds, Series 2020-B, 4.00% 12/1/2050  | 1445 | 1458 |
|  |  | 6251 |
| **Nebraska 0.62%** | **Nebraska 0.62%** | **Nebraska 0.62%** |
| Central Plains Energy Project, Gas Project Rev. Bonds (Project No. 5), Series 2022-1, 5.00% 5/1/2053 (put 10/1/2029)  | 3555 | 3710 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2018-A, 4.00% 9/1/2048  | 565 | 567 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2019-B, AMT, 4.00% 9/1/2049  | 100 | 100 |
| Omaha Public Power Dist., Separate Electric System Rev. Bonds (Nebraska City 2), Series 2015-A, 5.00% 2/1/2033  | 1565 | 1568 |
|  |  | 5945 |
| **Nevada 0.37%** | **Nevada 0.37%** | **Nevada 0.37%** |
| Clark County School Dist., Limited Tax GO Building Bonds, Series 2020-A, AGI, 5.00% 6/15/2026  | 500 | 505 |
| Clark County School Dist., Limited Tax GO Building Bonds, Series 2022-A, 5.00% 6/15/2031  | 500 | 560 |
| County of Clark, Pollution Control Rev. Ref. Bonds (Southern California Edison Co.), Series 2010, 2.10% 6/1/2031  | 350 | 320 |
| Housing Division, Multi Unit Housing Rev. Bonds (Carville Park Apartments), Series 2024, 5.00% 7/1/2028 (put <br> 7/1/2027)  | 215 | 222 |
| City of Las Vegas, Special Improvement Dist. No. 817 (Summerlin Village 29), Local Improvement Bonds, Series 2023, <br> 5.00% 6/1/2028  | 345 | 355 |
| City of Las Vegas, Special Improvement Dist. No. 818 (Summerlin Village 27), Local Improvement Bonds, Series 2024, <br> 4.50% 12/1/2027  | 250 | 254 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **222** |

---

------

Capital Group Short Duration Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Nevada (continued)** | **Nevada (continued)** | **Nevada (continued)** |
| City of Las Vegas, Special Improvement Dist. No. 819 (Summerlin Village 30A), Local Improvement Bonds, Series 2025, <br> 4.75% 6/1/2027  | USD<br> 135<br>| $138 |
| City of Las Vegas, Special Improvement Dist. No. 819 (Summerlin Village 30A), Local Improvement Bonds, Series 2025, <br> 4.50% 6/1/2030  | 285 | 294 |
| City of Las Vegas, Special Improvement Dist. No. 819 (Summerlin Village 30A), Local Improvement Bonds, Series 2025, <br> 4.00% 6/1/2031  | 120 | 121 |
| Las Vegas Convention and Visitors Auth., Convention Center Expansion and Renovation Rev. Bonds, Series 2023-A, <br> 5.00% 7/1/2027  | 350 | 362 |
| City of Reno Dist. No. 1, Special Assessment and Local Improvement Bonds (Quilici Ranch), Series 2025, 5.00% <br> 6/1/2027 <sup>(a)</sup>  | 250 | 254 |
| City of Reno Dist. No. 1, Special Assessment and Local Improvement Bonds (Quilici Ranch), Series 2025, 5.00% <br> 6/1/2028 <sup>(a)</sup>  | 185 | 190 |
|  |  | 3575 |
| **New Hampshire 0.49%** | **New Hampshire 0.49%** | **New Hampshire 0.49%** |
| Health and Education Facs. Auth., Education Loan Rev. Bonds (Granite Edvance Corp. Issue), Series 2024-B, AMT, <br> 4.00% 11/1/2044  | 325 | 315 |
| Health and Education Facs. Auth., Education Loan Rev. Bonds (New Hampshire Higher Education Loan Corp. Issue), <br> Series 2023-B, AMT, 5.00% 11/1/2043  | 575 | 609 |
| Health and Education Facs. Auth., Rev. Bonds (Dartmouth College Issue), Series 2007-B, 2.45% 6/1/2041 <sup>(b)</sup>  | 1135 | 1135 |
| National Fin. Auth., Lease Rent Rev. Bonds (Centurion Foundation Woodway Drive, LLC), Series 2024-A, 4.53% <br> 10/15/2034 <sup>(a)</sup>  | 750 | 773 |
| National Fin. Auth., Rev. Bonds (Winston-Salem Sustainable Energy Partners), Series 2025-A, 5.00% 6/1/2031  | 440 | 482 |
| National Fin. Auth., Special Rev. Bonds (Grand Prairie Project), Series 2024, 5.875% 12/15/2032 <sup>(a)</sup>  | 939 | 935 |
| National Fin. Auth., Specialty Pharmacy Rev. Bonds (University Hospitals Home Care Services, Inc.), Series 2024-A, <br> 5.625% 12/15/2033 <sup>(a)</sup>  | 395 | 407 |
|  |  | 4656 |
| **New Jersey 1.77%** | **New Jersey 1.77%** | **New Jersey 1.77%** |
| Econ. Dev. Auth., Special Fac. Rev. Bonds (Continental Airlines, Inc. Project), Series 1999, AMT, 5.25% 9/15/2029  | 1180 | 1182 |
| Econ. Dev. Auth., Water Facs. Rev. Ref. Bonds (American Water Co., Inc. Project), Series 2020-B, AMT, 3.75% 11/1/2034 <br> (put 6/1/2028)  | 3420 | 3461 |
| Educational Facs. Auth., Rev. Bonds (Higher Education Capital Improvement Fund Issue), Series 2023-A, 5.00% <br> 9/1/2026  | 870 | 883 |
| Health Care Facs. Fncg. Auth., Rev. Ref. Bonds (Hackensack Meridian Health Obligated Group Issue), Series 2017-A, <br> 5.00% 7/1/2037  | 380 | 391 |
| Health Care Facs. Fncg. Auth., Rev. Ref. Bonds (Hackensack Meridian Health Obligated Group Issue), Series 2017-A, <br> 5.00% 7/1/2038  | 2510 | 2576 |
| Health Care Facs. Fncg. Auth., Rev. Ref. Bonds (Hackensack Meridian Health Obligated Group Issue), Series 2017-A, <br> 5.00% 7/1/2039  | 485 | 497 |
| Higher Education Student Assistance Auth., Student Loan Rev. and Rev. Ref. Bonds, Series 2022, AMT, 4.00% <br> 12/1/2041  | 340 | 338 |
| Higher Education Student Assistance Auth., Student Loan Rev. and Rev. Ref. Bonds, Series 2025, AMT, 4.50% <br> 12/1/2045  | 1170 | 1202 |
| Higher Education Student Assistance Auth., Student Loan Rev. Bonds, Series 2015-1B, AMT, 5.00% 12/1/2031  | 1000 | 1064 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2019-B, AMT, 3.00% 12/1/2034  | 1275 | 1217 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2020-A, AMT, 3.50% 12/1/2039  | 355 | 349 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2021-B, AMT, 2.50% 12/1/2040  | 495 | 467 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2025-M, 6.50% 4/1/2056  | 500 | 562 |
| Tobacco Settlement Fncg. Corp., Tobacco Settlement Bonds, Series 2018-A, 5.00% 6/1/2026  | 175 | 176 |
| Turnpike Auth., Turnpike Rev. Bonds, Series 2020-D, 5.00% 1/1/2028  | 1015 | 1037 |
| Turnpike Auth., Turnpike Rev. Bonds, Series 2025-B, 5.00% 1/1/2030  | 1365 | 1492 |
|  |  | 16894 |
| **New Mexico 0.07%** | **New Mexico 0.07%** | **New Mexico 0.07%** |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2020-A, Class I, 3.50% 1/1/2051  | 160 | 160 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2025-A, Class I, 5.75% 3/1/2056  | 500 | 550 |
|  |  | 710 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **223** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Short Duration Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **New York 6.71%** | **New York 6.71%** | **New York 6.71%** |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Series 2016-A, 5.00% 7/15/2026  | USD<br> 1,500<br>| $1510 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2024-A, 5.00% 3/15/2031  | 1000 | 1123 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2025-C, 5.00% 3/15/2031  | 1000 | 1123 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2025-C, 5.00% 3/15/2033  | 3410 | 3939 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2018-A, 5.00% 3/15/2026 (escrowed to maturity)  | 100 | 101 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2025-A, 5.00% 3/15/2027  | 2835 | 2921 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2025-A, 5.00% 3/15/2032  | 1060 | 1214 |
| Dormitory Auth., Taxable State Personal Income Tax Rev. Bonds (General Purpose), Series 2025-A, 5.00% 3/15/2031  | 1010 | 1134 |
| Environmental Facs. Corp., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2020-R-1, <br> 4.25% 9/1/2050 (put 9/3/2030) <sup>(a)</sup>  | 275 | 276 |
| Housing Fin. Agcy., 160 West 62nd Street Housing Rev. Bonds, Series 2011-A-1, 3.60% 11/1/2044 (put 4/1/2032)  | 425 | 432 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2015-A-2, 5.00% 11/15/2045 (put 5/15/2030)  | 2000 | 2157 |
| County of Monroe, Industrial Dev. Agcy., Multi Family Housing Rev. Bonds (Andrews Terrace Community Partners, L.P. <br> Project), Series 2023-B-2, 5.00% 7/1/2028 (put 7/1/2027)  | 2390 | 2461 |
| County of Nassau, GO General Improvement Bonds, Series 2016-B, AGI, 5.00% 10/1/2026  | 1000 | 1019 |
| New York City GO Bonds, Fiscal 2006, Series 2006-I-6, 5.00% 4/1/2032  | 1770 | 2000 |
| New York City GO Bonds, Fiscal 2006, Series 2006-I-6, 5.00% 4/1/2033  | 1405 | 1607 |
| New York City GO Bonds, Fiscal 2023, Series 2023-F-1, 5.00% 8/1/2029  | 1000 | 1086 |
| New York City GO Bonds, Fiscal 2025, Series 2025-G-1, 5.00% 2/1/2030  | 850 | 930 |
| New York City GO Bonds, Fiscal 2025, Series 2025-G-1, 5.00% 2/1/2032  | 1030 | 1162 |
| New York City GO Bonds, Fiscal 2025, Series 2025-G-1, 5.00% 2/1/2033  | 1910 | 2180 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Dev. Bonds), Series 2026-A-2, 3.25% <br> 11/1/2065 (put 2/1/2030)  | 2500 | 2512 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds), Series 2025-C-2, <br> 3.75% 5/1/2065 (put 7/2/2029)  | 1000 | 1016 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Queens Baseball Stadium Project), Series 2021-A, AGI, <br> 5.00% 1/1/2028  | 1320 | 1378 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Queens Baseball Stadium Project), Series 2021-A, AGI, <br> 5.00% 1/1/2031  | 1000 | 1101 |
| New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Series 2026-S-2, 5.00% 7/15/2034  | 1195 | 1407 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-F, 5.00% 11/1/2027  | 460 | 480 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2026, Series 2026-D-1, 5.00% 11/1/2027  | 3985 | 4158 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2025, Series 2025-H-1, 5.00% 11/1/2030  | 550 | 611 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2026, Series 2026-D-1, 5.00% 11/1/2028  | 1140 | 1218 |
| Port Auth., Consolidated Bonds, Series 227, AMT, 3.00% 10/1/2028  | 500 | 499 |
| Rockland County Econ. Assistance Corp., Rev. Bonds (Bon Secours Charity Health System Project), Series 2025, 6.50% <br> 11/1/2030  | 1500 | 1555 |
| Sullivan County Infrastructure Local Dev. Corp., Rev. Bonds (Adelaar Infrastructure Project), Series 2016-A-1, 4.85% <br> 11/1/2031 <sup>(a)</sup>  | 190 | 192 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2022, AMT, 5.00% 12/1/2028  | 1000 | 1049 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2020-A, AMT, 5.00% 12/1/2029  | 2385 | 2533 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series <br> 2022, AMT, 5.00% 12/1/2031  | 2000 | 2176 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2018, AMT, 5.00% 1/1/2028  | 3110 | 3211 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. <br> Project), Series 2018, AMT, 5.00% 1/1/2029  | 2040 | 2103 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2016-A, 5.00% 3/15/2027 (preref. <br> 3/15/2026)  | 200 | 201 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2022-A, 5.00% 9/15/2031  | 1100 | 1249 |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2025-TE-2, 5.00% 6/15/2032  | 5000 | 5522 |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2025-TE-2, 5.00% 12/15/2032  | 1285 | 1432 |
|  |  | 63978 |
| **North Carolina 3.02%** | **North Carolina 3.02%** | **North Carolina 3.02%** |
| City of Charlotte, GO Rev. Ref. Bonds, Series 2025-B, 5.00% 7/1/2027  | 1975 | 2050 |
| City of Charlotte, Water and Sewer System Rev. Bonds, Series 2024, 5.00% 7/1/2026  | 1000 | 1013 |
| City of Durham, Housing Auth. Multi Family Housing Rev. Bonds (Page Corners Apartments), Series 2025, 3.15% <br> 7/1/2059 (put 7/1/2028)  | 1665 | 1670 |
| Educational Assistance Auth., Student Loan Rev. Bonds, Series 2023-A, AMT, 5.00% 6/1/2043  | 230 | 240 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **224** |

---

------

Capital Group Short Duration Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **North Carolina (continued)** | **North Carolina (continued)** | **North Carolina (continued)** |
| Educational Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2025-A, AMT, 5.00% 6/1/2045  | USD<br> 1,275<br>| $1336 |
| GO Rev. Ref. Bonds, Series 2026-A, 5.00% 6/1/2029  | 3000 | 3231 |
| Greater Asheville Regional Airport Auth., Airport System Rev. Bonds, Series 2023, AMT, 5.00% 7/1/2031  | 1845 | 2020 |
| Health and Educational Facs. Auth., Rev. Bonds (Massachusetts Institute of Technology Issue), Series 2000, 4.00% <br> 11/1/2030 (put 4/1/2026)  | 800 | 807 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds, Series 44, 2.05% 1/1/2028  | 500 | 487 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds, Series 41, 4.00% 1/1/2050  | 865 | 868 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds, Series 47, 3.00% 7/1/2051  | 1200 | 1185 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 55-A, 6.25% 7/1/2055  | 1635 | 1795 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 57-A, 6.25% 1/1/2056  | 1760 | 1980 |
| Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 44, 4.00% 7/1/2050  | 1540 | 1549 |
| Inlivian Multi Family Housing Rev. Bonds (Central at Old Concord), Series 2025, 3.30% 11/10/2043 (put 11/1/2028)  | 520 | 525 |
| Inlivian Multi Family Housing Rev. Bonds (The Barton South), Series 2025-B, 3.375% 2/1/2029 (put 2/1/2028)  | 1365 | 1370 |
| Limited Obligation Rev. Ref. Bonds, Series 2025-B, 5.00% 5/1/2027  | 850 | 879 |
| Limited Obligation Rev. Ref. Bonds, Series 2026-A, 5.00% 6/1/2027  | 1000 | 1030 |
| Limited Obligation Rev. Ref. Bonds, Series 2025-B, 5.00% 5/1/2028  | 1600 | 1692 |
| County of Mecklenburg, Limited Obligation Bonds, Series 2025, 5.00% 2/1/2030  | 975 | 1072 |
| Medical Care Commission, Health Care Facs. First Mortgage Rev. Ref. Bonds (The Presbyterian Homes Obligated <br> Group), Series 2016-C, 4.00% 10/1/2031  | 260 | 261 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Penick Village Project), Series 2024-B-2, 4.50% <br> 9/1/2029  | 230 | 230 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Penick Village Project), Series 2024-B-1, 4.75% <br> 9/1/2029  | 170 | 170 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (The United Methodist Retirement Homes <br> Project), Series 2025-B-1, 3.75% 10/1/2030  | 1165 | 1166 |
| Town of Morehead City, Multi Family Housing Rev. Bonds (Elijah's Landing), Series 2024, 4.05% 1/1/2028 (put <br> 1/1/2027)  | 150 | 151 |
|  |  | 28777 |
| **North Dakota 0.32%** | **North Dakota 0.32%** | **North Dakota 0.32%** |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2019-C, 4.00% 1/1/2050  | 320 | 322 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2021-B, 3.00% 7/1/2052  | 1205 | 1185 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2024-D, 6.00% 7/1/2055  | 170 | 189 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2025-C, 5.75% 7/1/2056  | 1245 | 1377 |
|  |  | 3073 |
| **Ohio 2.09%** | **Ohio 2.09%** | **Ohio 2.09%** |
| Air Quality Dev. Auth. Rev. Ref. Bonds, (American Electric Power Co. Project), Series 2014-D, 3.20% 5/1/2026  | 140 | 140 |
| Air Quality Dev. Auth. Rev. Ref. Bonds, (American Electric Power Co. Project), Series 2005-B, AMT, 3.70% 7/1/2028  | 1440 | 1445 |
| Air Quality Dev. Auth., Air Quality Rev. Ref. Bonds (Ohio Valley Electric Corp. Project), Series 2019-A, 3.25% 9/1/2029  | 1700 | 1696 |
| Akron, Bath and Copley Joint Township Hospital Dist., Hospital Facs. Rev. Ref. Bonds (Summa Health Obligated <br> Group), Series 2020, 5.00% 11/15/2027  | 185 | 193 |
| City of Columbus, Various Purpose Unlimited Tax GO Bonds, Series 2024-A, 5.00% 8/15/2026  | 1000 | 1015 |
| County of Cuyahoga, Metropolitan Housing Auth., Multi Family Housing Rev. Bonds (Wade Park Apartments), Series <br> 2022, 3.32% 12/1/2027 (put 6/1/2026)  | 2310 | 2311 |
| County of Franklin, Health Care Facs. Rev. Ref. Bonds (Ohio Living Communities), Series 2022, 4.00% 7/1/2033  | 500 | 500 |
| Hospital Rev. Bonds (Aultman Health Foundation), Series 2018, 5.00% 12/1/2028 <sup>(a)</sup>  | 185 | 187 |
| Hospital Rev. Bonds (University Hospitals Health System, Inc.), Series 2025-A, 5.00% 1/15/2027  | 1315 | 1341 |
| Hospital Rev. Ref. Bonds (Cleveland Clinic Health System Obligated Group), Series 2017-A, 3.25% 1/1/2035  | 250 | 247 |
| Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Beechwood Apartments), Series 2025, 3.37% 3/1/2028 (put <br> 3/1/2027)  | 1175 | 1180 |
| Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Community Pendleton Project), Series 2025, 3.40% 7/1/2042 <br> (put 2/1/2028)  | 1300 | 1306 |
| Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Lincoln & Gilbert Family II Apartments), Series 2024, 3.35% <br> 5/1/2044 (put 5/1/2027)  | 380 | 381 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2022-A, 3.25% <br> 9/1/2052  | 345 | 342 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2025-B, 6.50% <br> 3/1/2056  | 2075 | 2368 |
| City of Norwood, Special Obligation Rev. Ref. Bonds (Rookwood Exchange Project), Series 2025, 4.375% 12/1/2030  | 515 | 521 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **225** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Short Duration Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Ohio (continued)** | **Ohio (continued)** | **Ohio (continued)** |
| County of Summit, Dev. Fin. Auth. Multi Family Housing Rev. Bonds (Wintergreen Ledges Apartments), Series 2025, <br> 5.00% 4/1/2028 (put 4/1/2027)  | USD<br> 2,270<br>| $2324 |
| County of Warren, Healthcare Facs., Improvement and Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series <br> 2024, 5.00% 7/1/2026  | 335 | 338 |
| County of Warren, Healthcare Facs., Improvement and Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series <br> 2024, 5.00% 7/1/2027  | 470 | 483 |
| County of Warren, Healthcare Facs., Improvement and Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series <br> 2024, 5.00% 7/1/2028  | 640 | 670 |
| County of Warren, Healthcare Facs., Improvement and Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series <br> 2024, 5.00% 7/1/2029  | 315 | 335 |
| County of Warren, Healthcare Facs., Improvement and Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series <br> 2024, 5.00% 7/1/2030  | 550 | 595 |
|  |  | 19918 |
| **Oklahoma 0.27%** | **Oklahoma 0.27%** | **Oklahoma 0.27%** |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds (Homeownership Loan Program), Series 2025-A, 6.25% <br> 9/1/2056  | 1560 | 1757 |
| Turnpike Auth., Turnpike System Rev. Bonds, Series 2017-C, 5.00% 1/1/2042  | 800 | 800 |
|  |  | 2557 |
| **Oregon 1.15%** | **Oregon 1.15%** | **Oregon 1.15%** |
| County of Clackamas, Hospital Facs. Auth., Rev. Senior Living Bonds (Mary's Woods at Marylhurst Project), Series <br> 2018-A, 5.00% 5/15/2026  | 180 | 180 |
| GO Bonds (Article XI-M, XI-N, and XI-P State Grant Programs), Series 2025-C, 5.00% 6/1/2028  | 1000 | 1061 |
| GO Bonds (Article XI-Q State Projects), Series 2025-K, 5.00% 11/1/2027  | 2355 | 2464 |
| GO Bonds (Article XI-Q State Projects), Series 2025-A, 5.00% 5/1/2030  | 1130 | 1252 |
| GO Rev. Ref. Bonds (Article XI-F1 State Projects), Series 2025-F, 5.00% 8/1/2029  | 1200 | 1308 |
| Housing and Community Services Dept., Housing Dev. Rev. Bonds (Gresham Civic Station Apartments Project), Series <br> 2025-Q, 3.125% 7/1/2044 (put 7/1/2028)  | 1000 | 1003 |
| Housing and Community Services Dept., Housing Dev. Rev. Bonds (Verde Pines Project), Series 2025-O, 3.10% <br> 12/1/2059 (put 2/1/2028)  | 435 | 435 |
| Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series 2024-C, <br> 6.50% 7/1/2054  | 390 | 433 |
| Housing and Community Services Dept., Muti Family Housing Rev. Bonds, (Redmond Landing Apartments Project), <br> Series 2024-K-2, 3.01% 5/1/2028 (put 5/1/2027)  | 1000 | 1001 |
| City of Portland, Sewer System Rev. Bonds, Series 2020-A, 5.00% 3/1/2030  | 1160 | 1278 |
| Dept. of Transportation, Grant Anticipation Rev. Bonds, Series 2024, 5.00% 5/15/2027  | 575 | 594 |
|  |  | 11009 |
| **Pennsylvania 2.42%** | **Pennsylvania 2.42%** | **Pennsylvania 2.42%** |
| County of Bucks, Industrial Dev. Auth., Rev. Bonds (Pennswood Village Project), Series 2018-A, 5.00% 10/1/2027  | 760 | 776 |
| County of Chester, Industrial Dev. Auth., Rev. Notes (Avon Grove Charter School Project), Series 2024, 5.00% 3/1/2027  | 500 | 504 |
| City of Doylestown, Hospital Auth., Rev. Bonds (Doylestown Hospital), Series 2024, 5.00% 7/1/2031 <sup>(a)</sup>  | 155 | 165 |
| East Hempfield Township, Industrial Dev. Auth., Rev. and Rev. Ref. Bonds (Willow Valley Communities Project), Series <br> 2016, 5.00% 12/1/2028  | 715 | 715 |
| Econ. Dev. Fin. Auth., Solid Waste Rev. Ref. Bonds (Republic Service, Inc. Project), Series 2010-B, 2.875% 12/1/2030 <br> (put 4/1/2026)  | 155 | 155 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Pennsylvania Rapid Bridge Replacement Project), Series 2015, <br> AMT, 5.00% 12/31/2028  | 895 | 901 |
| Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2011, AMT, 4.25% <br> 7/1/2041 (put 7/1/2027)  | 3250 | 3286 |
| Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2021-A-2, AMT, <br> 4.60% 10/1/2046 (put 10/1/2026)  | 1250 | 1254 |
| Fncg. Auth., Rev. Bonds (Tobacco Master Settlement Payment), Series 2018, 5.00% 6/1/2026  | 1800 | 1817 |
| Fncg. Auth., Rev. Bonds (Tobacco Master Settlement Payment), Series 2018, 5.00% 6/1/2030  | 2000 | 2103 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2025-1A, AMT, 5.00% 6/1/2031  | 700 | 745 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2024-1A, AMT, 5.00% 6/1/2032  | 2000 | 2146 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2020, 2.45% 6/1/2041  | 110 | 101 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2024-1A, AMT, 4.125% 6/1/2045  | 54 | 53 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2025-1A, AMT, 4.75% 6/1/2046  | 250 | 247 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **226** |

---

------

Capital Group Short Duration Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Pennsylvania (continued)** | **Pennsylvania (continued)** | **Pennsylvania (continued)** |
| Higher Educational Facs. Auth., Health System Rev. Bonds, Series 2016-AT-1, 5.00% 6/15/2030 (escrowed to maturity)  | USD<br> 590<br>| $596 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2018-126-A, 4.00% 10/1/2048  | 1975 | 1979 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2019-131-A, 3.50% 4/1/2049  | 135 | 135 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2020-133, 3.00% 10/1/2050  | 1480 | 1463 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2022-140-A, 5.00% 10/1/2052  | 190 | 197 |
| Housing Fin. Agcy., Special Limited Obligation Multi Family Housing Dev. Bonds (Fairhill Phase II), Series 2025, 3.15% <br> 1/1/2046 (put 7/1/2029)  | 2200 | 2207 |
| City of Philadelphia, Hospitals and Higher Education Facs. Auth., Hospital Rev. Bonds (Temple University Health <br> System Obligated Group), Series 2017, 5.00% 7/1/2031  | 500 | 509 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2016-A-1, 5.00% 12/1/2027  | 1060 | 1071 |
|  |  | 23125 |
| **Puerto Rico 1.47%** | **Puerto Rico 1.47%** | **Puerto Rico 1.47%** |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2017 <sup>(d)</sup>  | 205 | 137 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 4.25% 7/1/2020 <sup>(d)</sup>  | 335 | 224 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2021 <sup>(d)</sup>  | 275 | 184 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2025 <sup>(d)</sup>  | 25 | 17 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 4.75% 7/1/2027 <sup>(d)</sup>  | 160 | 107 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2032 <sup>(d)</sup>  | 10 | 7 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-XX, 5.25% 7/1/2035 <sup>(d)</sup>  | 125 | 84 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-XXX, 5.75% 7/1/2036 <sup>(d)</sup>  | 320 | 214 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-YY, 6.125% 7/1/2040  | 200 | 134 |
| Electric Power Auth., Power Rev. Custodial Receipts, Series 2025-PRB-RR, 0% 7/1/2030 <sup>(a)</sup>  | 1000 | 652 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2010-DDD, 5.00% 7/1/2021 <sup>(d)</sup>  | 1000 | 667 |
| GO Restructured Bonds, Series 2022-A-1, 5.625% 7/1/2027  | 32 | 33 |
| GO Taxable Bonds, Series 2022, 0% 11/1/2043 <sup>(b)</sup>  | 8744 | 5607 |
| GO Taxable Bonds, CAB, Series 2022, 0% 11/1/2051  | 5769 | 3779 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Hospital Rev. and Rev. Ref. Bonds <br> (Hospital Auxilio Mutuo Obligated Group Project), Series 2021, 5.00% 7/1/2029  | 500 | 526 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, CAB, Series 2018-A-1, 0% 7/1/2027  | 80 | 76 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, CAB, Series 2018-A-1, 0% 7/1/2029  | 1000 | 889 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, CAB, Series 2018-A-1, 0% 7/1/2031  | 814 | 670 |
|  |  | 14007 |
| **Rhode Island 0.29%** | **Rhode Island 0.29%** | **Rhode Island 0.29%** |
| Housing and Mortgage Fin. Corp., Multi Family Dev. Green Bonds, Series 2024-1-A, FHA, 3.60% 10/1/2054 (put <br> 10/1/2027)  | 350 | 350 |
| Student Loan Auth., Education Loan Rev. Bonds, Series 2022-A, AMT, 4.125% 12/1/2041  | 385 | 380 |
| Student Loan Auth., Education Loan Rev. Bonds, Series 2023-A, AMT, 4.125% 12/1/2042  | 295 | 290 |
| Student Loan Auth., Education Loan Rev. Bonds, Series 2024-A, AMT, 4.125% 12/1/2043  | 90 | 88 |
| Student Loan Auth., Education Loan Rev. Bonds, Series 2024-B, AMT, 4.125% 12/1/2043  | 1460 | 1416 |
| Tobacco Settlement Fin. Corp., Tobacco Settlement Asset-Backed Bonds, Series 2015-A, 5.00% 6/1/2026  | 250 | 251 |
|  |  | 2775 |
| **South Carolina 1.52%** | **South Carolina 1.52%** | **South Carolina 1.52%** |
| Connector 2000 Assn., Inc., Toll Road Rev. Bonds, CAB, Series 2011-A-1, 0% 1/1/2032  | 347 | 248 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2022-B, 5.00% 1/1/2052  | 1650 | 1722 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2024-A, 6.25% 7/1/2054  | 1400 | 1551 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2024-B, 6.00% 1/1/2055  | 1620 | 1793 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2025-A, 6.50% 7/1/2055  | 1505 | 1709 |
| Housing Fin. and Dev. Auth., Multi Family Housing Rev. Bonds (573 Meeting Street Project), Series 2024, 3.00% <br> 4/1/2043 (put 4/1/2027)  | 2500 | 2502 |
| Housing Fin. and Dev. Auth., Multi Family Housing Rev. Bonds (Poplar Square Apartments Project), Series 2025, 5.00% <br> 4/1/2028 (put 4/1/2027)  | 100 | 102 |
| Jobs-Econ. Dev. Auth., Health Care Facs. Rev. and Rev. Ref. Bonds (Rolling Green Village Project), Series 2025-B, 4.00% <br> 12/1/2030  | 755 | 758 |
| Jobs-Econ. Dev. Auth., Health Care Facs. Rev. Bonds (Novant Health Obligated Group), Series 2024-A, 5.00% <br> 11/1/2031  | 1000 | 1116 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **227** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Short Duration Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **South Carolina (continued)** | **South Carolina (continued)** | **South Carolina (continued)** |
| City of Myrtle Beach, Tax Increment Rev. Ref. Bonds (Myrtle Beach Air Force Base Redev. Project Area), Series 2016, <br> 5.00% 10/1/2028  | USD<br> 1,210<br>| $1229 |
| Public Service Auth., Rev. Improvement Obligations, Series 2021-B, 5.00% 12/1/2029  | 1360 | 1479 |
| County of Richland, The Village at Sandhill Improvement Dist., Rev. Ref. Assessment Bonds, Series 2021, 3.625% <br> 11/1/2031 <sup>(a)</sup>  | 290 | 265 |
|  |  | 14474 |
| **South Dakota 0.34%** | **South Dakota 0.34%** | **South Dakota 0.34%** |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2018-A, 4.00% 11/1/2048  | 1605 | 1609 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2019-B, 4.00% 5/1/2049  | 1200 | 1204 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2025-A, 6.50% 11/1/2055  | 385 | 438 |
|  |  | 3251 |
| **Tennessee 1.31%** | **Tennessee 1.31%** | **Tennessee 1.31%** |
| Health and Educational Facs. Auth., Collateralized Multi Family Rev. Bonds (BTT Dev. IV and Housing Associates Rural <br> Dev. Program), Series 2024, 3.00% 4/1/2028 (put 4/1/2027)  | 870 | 871 |
| Health and Educational Facs. Board of the Metropolitan Government of Nashville and Davidson County, Multi Family <br> Rev. Bonds (Trinity Flats Apartments), Series 2024-B, 3.65% 10/1/2046 (put 7/1/2028)  | 575 | 581 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2019-2, 4.00% 1/1/2048  | 935 | 943 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2018-3, 4.25% 7/1/2049  | 1075 | 1080 |
| City of Johnson City, Health and Educational Facs. Board, Collateralized Multi Family Housing Bonds (Tapestry at Roan <br> Hill Project), Series 2023, 3.60% 12/1/2027 (put 12/1/2026)  | 330 | 332 |
| County of Knox, Health, Educational and Housing Fac. Board, Multi Family Housing Rev. Bonds (The Pines Apartments <br> Project), Series 2024, 3.10% 9/1/2029 (put 9/1/2027)  | 2310 | 2311 |
| Knoxville Community Dev. Corp., Collateralized Multi Family Housing Bonds (Grosvenor Square Project), Series 2022, <br> 4.00% 12/1/2027 (put 6/1/2026)  | 55 | 55 |
| Knoxville Community Dev. Corp., Multi Family Housing Bonds (The Peter Apartments), Series 2025, 3.15% 5/1/2046 <br> (put 5/1/2029)  | 2000 | 2006 |
| Metropolitan Dev. and Housing Agcy., Tax Increment Dev. Rev. Bonds (Fifth & Broadway Dev. Project), Series 2018, <br> 4.50% 6/1/2028 <sup>(a)</sup>  | 200 | 202 |
| Metropolitan Government of Nashville and Davidson County, Industrial Dev. Board, Housing Rev. Bonds (Trinity Lane <br> Apartments Project), Series 2025, 3.15% 7/1/2044 (put 7/1/2029)  | 3045 | 3057 |
| Tennergy Corp., Gas Supply Rev. Bonds, Series 2021-A, 4.00% 12/1/2051 (put 9/1/2028)  | 1000 | 1017 |
|  |  | 12455 |
| **Texas 9.19%** | **Texas 9.19%** | **Texas 9.19%** |
| Affordable Housing Corp., Multi Family Housing Rev. Bonds (Juniper Creek Apartments Project), Series 2023, 3.75% <br> 7/1/2044 (put 7/1/2026)  | 500 | 502 |
| Allen Independent School Dist. Unlimited Tax Rev. Ref. Bonds, Series 2025-A, 5.00% 2/15/2027  | 400 | 411 |
| Allen Independent School Dist. Unlimited Tax School Building Bonds, Series 2025-A, 5.00% 2/15/2026  | 790 | 792 |
| Argyle Independent School Dist., Unlimited Tax School Building Bonds, Series 2025-A, 5.00% 8/15/2034  | 3680 | 4245 |
| Austin Affordable PFC, Inc., Multi Family Housing Rev. Bonds (Eagle's Landing Family Apartments), Series 2024-B, <br> 5.00% 9/1/2028 (put 9/1/2027)  | 300 | 310 |
| Austin Affordable PFC, Inc., Multi Family Housing Rev. Bonds (Village at Cottonwood Apartments), Series 2024-B, <br> 5.00% 9/1/2028 (put 9/1/2027)  | 405 | 418 |
| City of Austin, Airport System Rev. Ref. Bonds, Series 2025, AMT, 5.00% 11/15/2028  | 485 | 511 |
| City of Austin, Electric Utility System Rev. Ref. Bonds, Series 2015-A, 5.00% 11/15/2029  | 2000 | 2000 |
| Brazos Higher Education Auth., Inc., Student Loan Program Rev. Bonds, Series 2025-1A, AMT, 5.00% 4/1/2029  | 1700 | 1775 |
| Brazos Higher Education Auth., Inc., Student Loan Program Rev. Bonds, Series 2025-1A, AMT, 4.50% 4/1/2046  | 1220 | 1243 |
| City of Buda, Special Assessment Rev. Bonds (Persimmon Public Improvement Dist. Major Improvement Area No. 1), <br> Series 2025, 5.00% 9/1/2033 <sup>(a)</sup>  | 100 | 102 |
| City of Buda, Special Assessment Rev. Bonds (Persimmon Public Improvement Dist. Major Improvement Area Project), <br> Series 2025, 5.75% 9/1/2033 <sup>(a)</sup>  | 78 | 79 |
| Canutillo Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2025, 5.00% 8/15/2027  | 1195 | 1242 |
| Capital Area Housing Fin. Corp., Multi Family Housing Rev. Bonds (The Katy), Series 2024, 3.125% 9/1/2029 (put <br> 9/1/2027)  | 2775 | 2789 |
| Central Texas Regional Mobility Auth., Rev. Bond Anticipation Notes, Series 2021-C, 5.00% 1/1/2027  | 3630 | 3641 |
| Clifton Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Idea Public Schools), Series 2025, 5.00% <br> 8/15/2029  | 2000 | 2157 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **228** |

---

------

Capital Group Short Duration Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Texas (continued)** | **Texas (continued)** | **Texas (continued)** |
| Clifton Higher Education Fin. Corp., Education Rev. Ref. Bonds (International Leadership of Texas, Inc.), Series 2025-B, <br> 4.00% 2/15/2055 (put 2/15/2030)  | USD<br> 950<br>| $993 |
| County of Collin, Road and Rev. Ref. Bonds, Series 2016, 4.00% 2/15/2027  | 500 | 501 |
| Comal Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2025, 5.00% 2/1/2027  | 1120 | 1149 |
| Conroe Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2025, 5.00% 2/15/2027  | 920 | 945 |
| Corpus Christi Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2020, 5.00% <br> 8/15/2027  | 675 | 702 |
| Crowley Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 8/1/2029  | 400 | 429 |
| City of Dallas Housing Fin. Corp., Multi Family Housing Rev. Bonds (Palladium Buckner Station), Series 2025, 3.05% <br> 8/1/2030 (put 8/1/2028)  | 600 | 601 |
| City of Dallas Housing Fin. Corp., Multi Family Housing Rev. Bonds (The Mondello), Series 2024, 5.00% 8/1/2027 (put <br> 8/1/2026)  | 135 | 136 |
| City of Dallas Housing Fin. Corp., Multi Family Housing Rev. Bonds (West Virginia Apartments), Series 2024-B, 5.00% <br> 10/1/2028 (put 10/1/2027)  | 430 | 444 |
| County of Denton, Special Assessment Rev. Bonds (Duck Point Public Improvement Dist.), Series 2025, 4.375% <br> 12/31/2030 <sup>(a)</sup>  | 400 | 401 |
| County of Denton, Special Assessment Rev. Bonds (Green Meadows Public Improvement Dist. Major Improvement <br> Area Project), Series 2025, 4.25% 12/31/2030 <sup>(a)</sup>  | 305 | 308 |
| County of Denton, Special Assessment Rev. Bonds (Tabor Ranch Public Improvement Dist. Improvement Area #1 <br> Project), Series 2024-A, 4.625% 12/31/2031 <sup>(a)</sup>  | 214 | 218 |
| Denton Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2025-C, 5.00% 8/15/2027  | 350 | 363 |
| County of El Paso, Hospital Dist. GO Bonds, Series 2025, 5.00% 2/15/2031  | 1200 | 1320 |
| Fort Bend Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2021-B, 0.72% 8/1/2051 (put 8/1/2026)  | 200 | 197 |
| City of Galveston, Wharves and Terminal Rev. Bonds, Series 2024-A, AMT, 5.00% 8/1/2029  | 450 | 474 |
| Grapevine-Colleyville Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2025, 5.00% 8/15/2026  | 1385 | 1406 |
| City of Greenville, Electric System Rev. Ref. Bonds, Series 2024, BAM, 5.00% 2/15/2027  | 500 | 513 |
| Harris County Housing Fin. Corp., Multi Family Housing Rev. Notes (Baypointe Apartments), Series 2025, 2.95% <br> 9/1/2043 (put 9/1/2028)  | 1000 | 998 |
| Dept. of Housing and Community Affairs, Residential Mortgage Rev. Ref. Bonds, Series 2025-D, 6.25% 1/1/2056  | 1500 | 1682 |
| Housing Options, Inc., Multi Family Housing Rev. Bonds (Royal Crest Apartments), Series 2025, 3.05% 2/1/2045 (put <br> 2/1/2028)  | 415 | 416 |
| Housing Synergy PFC, Multi Family Housing Rev. Bonds (Canterbury Crossing Apartments), Series 2023, 5.00% <br> 2/1/2027 (put 2/1/2026)  | 1000 | 1002 |
| City of Houston, Airport System Rev. and Rev. Ref. Bonds, Series 2025-A, AMT, 5.00% 7/1/2033  | 2000 | 2227 |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2023-B, AGI, AMT, 5.00% 7/1/2028  | 1000 | 1050 |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2023-B, AGI, AMT, 5.00% 7/1/2029  | 1000 | 1069 |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2023-B, AGI, AMT, 5.00% 7/1/2031  | 1500 | 1646 |
| City of Houston, Airport System Special Facs. Rev. Ref. Bonds (United Airlines, Inc. Terminal Improvement Projects), <br> Series 2020-B-2, AMT, 5.00% 7/15/2027  | 1000 | 1017 |
| City of Houston, Airport System Special Facs. Rev. Ref. Bonds (United Airlines, Inc. Terminal Improvement Projects), <br> Series 2020-C, AMT, 5.00% 7/15/2027  | 1500 | 1525 |
| Houston Housing Fin. Corp., Multi Family Housing Rev. Bonds (Alcott Village), Series 2024-A, 3.20% 4/1/2028  | 2075 | 2074 |
| Humble Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2/15/2028  | 640 | 672 |
| Klein Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2016-A, 3.00% 8/1/2028  | 750 | 750 |
| City of Lavon, Special Assessment Rev. Bonds (Trails of Lavon Public Community Dist. Projects), Series 2025, 4.25% <br> 9/15/2032 <sup>(a)</sup>  | 213 | 216 |
| Leander Independent School Dist., Unlimited Tax School Building Bonds, CAB, Series 2025-A, 0% 8/15/2027  | 590 | 564 |
| Love Field Airport Modernization Corp., Special Facs. Rev. Bonds, Series 2012, AMT, 5.00% 11/1/2028  | 470 | 470 |
| Mesquite Independent School Dist., Unlimited Tax Building Rev. Ref. Bonds, Series 2025, 5.00% 8/15/2026  | 435 | 441 |
| Mission Econ. Dev. Corp., Rev. Bonds (Natgasoline Project), Series 2018, AMT, 4.625% 10/1/2031 <sup>(a)</sup>  | 465 | 465 |
| Municipal Gas Acquisition and Supply Corp. IV, Gas Supply Rev. Bonds, Series 2023-A, 5.50% 1/1/2054 (put 1/1/2030)  | 1250 | 1329 |
| Municipal Gas Acquisition and Supply Corp. VI, Gas Supply Rev. Bonds, Series 2025, 5.00% 1/1/2031  | 1500 | 1596 |
| New Caney Independent School Dist., Unlimited Tax School Building Bonds, Series 2018, 4.00% 2/15/2050 (put <br> 8/15/2027)  | 230 | 234 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Bella Vida Forefront Living Project), Series <br> 2025-B-3, 4.25% 10/1/2030  | 585 | 587 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Brazos Presbyterian Homes, Inc. Project), <br> Series 2025, 5.00% 1/1/2027  | 605 | 613 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Brazos Presbyterian Homes, Inc. Project), <br> Series 2025, 5.00% 1/1/2028  | 805 | 826 |
| North Texas Higher Education Auth., Inc., Education Loan Rev. Bonds, Senior Series 2025-A, AMT, 5.00% 6/1/2032  | 225 | 240 |
| North Texas Higher Education Auth., Inc., Education Loan Rev. Bonds, Senior Series 2024-1-A, AMT, 4.125% 6/1/2045  | 340 | 335 |
| North Texas Higher Education Auth., Inc., Education Loan Rev. Bonds, Senior Series 2025-A, AMT, 4.50% 6/1/2046  | 1380 | 1396 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **229** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Short Duration Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Texas (continued)** | **Texas (continued)** | **Texas (continued)** |
| North Texas Tollway Auth., System Rev. Ref. Bonds, Series 2016-A, 5.00% 1/1/2031  | USD<br> 1,375<br>| $1375 |
| North Texas Tollway Auth., System Rev. Ref. Bonds, Series 2016-A, 5.00% 1/1/2032  | 985 | 985 |
| North Texas Tollway Auth., System Rev. Ref. Bonds, Series 2016-A, 5.00% 1/1/2034  | 1170 | 1170 |
| North Texas Tollway Auth., System Rev. Ref. Bonds, CAB, Series 2008-D, AGI, 0% 1/1/2030  | 2000 | 1776 |
| Northwest Independent School Dist., Unlimited Tax School Building Bonds, Series 2017, 5.00% 2/15/2042 (preref. <br> 2/15/2026)  | 1025 | 1028 |
| Pecos-Barstow-Toyah Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% 2/15/2042 <br> (preref. 2/15/2026)  | 1000 | 1003 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2019, 4.00% 2/1/2027  | 600 | 610 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 5.00% 2/1/2028  | 1000 | 1048 |
| Sherman Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.00% 2/15/2033  | 1000 | 1150 |
| Sinton Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 4.00% 8/15/2049 (put 8/15/2026)  | 530 | 534 |
| Spring Branch Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2025, 5.00% <br> 2/1/2036  | 1500 | 1743 |
| Spring Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2025, 5.00% 8/15/2026  | 585 | 594 |
| County of Tarrant, Housing Fin. Corp., Multi Family Housing Rev. Notes (Wildwood Branch), Series 2025, 3.60% <br> 2/1/2043 (put 2/1/2028)  | 2125 | 2146 |
| Tarrant County Cultural Education Facs. Fin. Corp., Rev. Bonds (Ascension Senior Credit Group), Series 2025-C-1, <br> 5.00% 11/15/2051 (put 11/15/2032)  | 8000 | 8930 |
| Tomball Business Improvement Dist. No. 1, Unlimited Tax Bonds, Series 2024, 4.00% 11/15/2031  | 305 | 312 |
| Tomball Business Improvement Dist. No. 1, Unlimited Tax Bonds, Series 2024, 4.00% 11/15/2032  | 320 | 326 |
| Tomball Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.00% 2/15/2027  | 700 | 720 |
| Transportation Commission, Central Texas Turnpike System Rev. Ref. Bonds, Series 2024-C, 5.00% 8/15/2031  | 360 | 403 |
| Turnpike Auth., Central Texas Turnpike System, Rev. Bonds, CAB, Series 2002-A, AMBAC, 0% 8/15/2027  | 1000 | 954 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2017-A, 5.00% 4/15/2028  | 2000 | 2085 |
|  |  | 87649 |
| **Utah 0.78%** | **Utah 0.78%** | **Utah 0.78%** |
| Downtown Revitalization Public Infrastructure Dist., Sales Tax Rev. Bonds (SEG Redev. Project), Series 2025-C, 5.00% <br> 7/15/2035 <sup>(a)</sup>  | 270 | 272 |
| GO Bonds, Series 2017, 5.00% 7/1/2026  | 600 | 608 |
| Housing Corp., Multi Family Housing Rev. Bonds (Liberty Corner), Series 2025, 3.00% 9/1/2045 (put 9/1/2029)  | 1045 | 1041 |
| Housing Corp., Single Family Mortgage Bonds, Series 2024-G, 6.25% 7/1/2055  | 620 | 693 |
| Housing Corp., Single Family Mortgage Bonds, Series 2024-I, 6.25% 7/1/2055  | 295 | 331 |
| MIDA Mountain Village Public Infrastructure Dist., Special Assessment Rev. Bonds (Mountain Village Assessment Area <br> #2), Series 2021, 4.00% 8/1/2027 <sup>(a)</sup>  | 450 | 451 |
| MIDA Mountain Village Public Infrastructure Dist., Special Assessment Rev. Bonds (Mountain Village Assessment Area <br> #2), Series 2021, 4.00% 8/1/2029 <sup>(a)</sup>  | 950 | 957 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-A, AMT, 5.00% 7/1/2027  | 500 | 515 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2023-A, AMT, 5.00% 7/1/2029  | 500 | 535 |
| Telecommunication Open Infrastructure Agcy., Sales Tax and Telecommunications Rev. Ref. Bonds, Series 2022, 5.00% <br> 6/1/2027  | 600 | 619 |
| Three Bridges Public Infrastructure Dist. No. 1, Special Assessment Bonds (Three Bridges Assessment Area No. 1), <br> Series 2024-1, 5.00% 12/1/2036 <sup>(a)(d)</sup>  | 1000 | 1008 |
| County of Utah, Hospital Rev. Bonds (IHC Health Services, Inc.), Series 2020-B-2, 5.00% 5/15/2060 (put 8/1/2026)  | 425 | 431 |
|  |  | 7461 |
| **Vermont 0.31%** | **Vermont 0.31%** | **Vermont 0.31%** |
| Econ. Dev. Auth., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2022-A-2, AMT, 4.375% <br> 6/1/2052 (put 6/1/2032) <sup>(a)</sup>  | 670 | 675 |
| Educational and Health Buildings Fncg. Agcy., Rev. Bonds (The University of Vermont Medical Center Project), Series <br> 2016-A, 5.00% 12/1/2033  | 610 | 614 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2023, AMT, 5.00% 6/15/2033  | 1530 | 1641 |
|  |  | 2930 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **230** |

---

------

Capital Group Short Duration Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Virgin Islands 0.16%** | **Virgin Islands 0.16%** | **Virgin Islands 0.16%** |
| Matching Fund Special Purpose Securitization Corp., Matching Fund Securitization Bonds, Series 2022-A, 5.00% <br> 10/1/2026  | USD<br> 1,285<br>| $1297 |
| Matching Fund Special Purpose Securitization Corp., Matching Fund Securitization Bonds, Series 2022-A, 5.00% <br> 10/1/2030  | 185 | 193 |
|  |  | 1490 |
| **Virginia 3.02%** | **Virginia 3.02%** | **Virginia 3.02%** |
| County of Amelia, Industrial Dev. Auth., Solid Waste Disposal Rev. and Rev. Ref. Bonds (Waste Management, Inc. <br> Project), Series 2002, AMT, 1.45% 4/1/2027  | 2925 | 2837 |
| County of Arlington, Industrial Dev. Auth., Multifamily Housing Rev. Bonds (Barcroft-Charlie 2 and Barcroft-Bravo 5), <br> Series 2025, 3.10% 12/1/2055 (put 2/1/2027)  | 650 | 650 |
| County of Arlington, Industrial Dev. Auth., Multifamily Housing Rev. Bonds (Park Shirlington Apartments), Series <br> 2023-A, 5.00% 1/1/2026  | 2000 | 2000 |
| County of Charles City, Industrial Dev. Auth., Solid Waste Disposal Rev. Bonds (Waste Management of Virginia, Inc. <br> Project), Series 2003-A, AMT, 4.25% 8/1/2027  | 1000 | 1005 |
| Chesapeake Redev. and Housing Auth., Multi Family Housing Rev. Bonds (Hunters Point Apartments), Series 2023, <br> 5.00% 5/1/2043 (put 5/1/2026)  | 3000 | 3019 |
| College Building Auth., Educational Facs. Rev. Bonds (21st Century College and Equipment Programs), Series 2017-C, <br> 5.00% 2/1/2031  | 1260 | 1293 |
| Hampton Roads Sanitation Dist., Wastewater Rev. Bonds, Series 2025-A, 5.00% 7/15/2026  | 4000 | 4053 |
| Hampton Roads, Transportation Accountability Commission, Bond Anticipation Notes (Hampton Roads Transportation <br> Fund), Series 2021-A, 5.00% 7/1/2026 (escrowed to maturity)  | 4000 | 4050 |
| Town of Louisa, Industrial Dev. Auth., Pollution Control Rev. Ref. Bonds (Virginia Electric and Power Co. Project), Series <br> 2008-B, 3.125% 11/1/2035 (put 10/1/2030)  | 1040 | 1044 |
| Public Building Auth., Public Facs. Rev. Bonds, Series 2015-B, AMT, 5.00% 8/1/2028  | 800 | 842 |
| Richmond Redev. and Housing Auth., Multi Family Housing Rev. Bonds (Joyfield at German School Road), Series 2025, <br> 3.10% 12/1/2055 (put 12/1/2026)  | 585 | 585 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 5.00% <br> 1/1/2027  | 500 | 508 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 5.00% <br> 1/1/2029  | 1000 | 1050 |
| Small Business Fncg. Auth., Rev. Ref. Bonds (Elizabeth River Crossings Opco, LLC Project), Series 2022, AMT, 4.00% <br> 1/1/2029  | 175 | 178 |
| Small Business Fncg. Auth., Rev. Ref. Bonds (Elizabeth River Crossings Opco, LLC Project), Series 2022, AMT, 4.00% <br> 7/1/2029  | 500 | 510 |
| Small Business Fncg. Auth., Rev. Ref. Bonds (Elizabeth River Crossings Opco, LLC Project), Series 2022, AMT, 4.00% <br> 1/1/2031  | 850 | 872 |
| Small Business Fncg. Auth., Rev. Ref. Bonds (Elizabeth River Crossings Opco, LLC Project), Series 2022, AMT, 4.00% <br> 1/1/2032  | 1000 | 1028 |
| Virginia Beach Dev. Auth., Residential Care Fac. Rev. Bonds (Westminster-Canterbury on Chesapeake Bay), Series <br> 2023-B-3, 5.375% 9/1/2029  | 1310 | 1325 |
| County of Wise, Industrial Dev. Auth., Solid Waste and Sewage Disposal Rev. Bonds (Virginia Electric and Power Co. <br> Project), Series 2009-A, 3.125% 10/1/2040 (put 10/1/2030)  | 1930 | 1938 |
|  |  | 28787 |
| **Washington 2.52%** | **Washington 2.52%** | **Washington 2.52%** |
| Energy Northwest, Electric Rev. Ref. Bonds (Columbia Generating Station), Series 2025-A, 5.00% 7/1/2030  | 1150 | 1276 |
| Health Care Facs. Auth., Rev. Bonds (Virginia Mason Medical Center), Series 2017, 5.00% 8/15/2033  | 1125 | 1155 |
| Health Care Facs. Auth., Rev. Bonds (Yakima Valley Memorial Hospital Assn.), Series 2016, 5.00% 12/1/2036 (preref. <br> 12/1/2026)  | 870 | 887 |
| Health Care Facs. Auth., Rev. Bonds (Yakima Valley Memorial Hospital Assn.), Series 2016, 5.00% 12/1/2041 (preref. <br> 12/1/2026)  | 645 | 658 |
| Housing Fin. Commission, Multi Family Housing Rev. Bonds (Camas Flats Apartments Project), Series 2024-B, 5.00% <br> 2/1/2028 (put 2/1/2027)  | 135 | 138 |
| Housing Fin. Commission, Nonprofit Housing Rev. and Rev. Ref. Bonds (Horizon House Project), Series 2017, 5.00% <br> 1/1/2028 <sup>(a)</sup>  | 250 | 253 |
| Housing Fin. Commission, Nonprofit Housing Rev. and Rev. Ref. Bonds (Horizon House Project), Series 2025-B-3, <br> 4.375% 1/1/2033  | 1500 | 1507 |
| Housing Fin. Commission, Nonprofit Housing Rev. Bonds (Parkshore Juanita Bay Project), Series 2024-B-1, 4.50% <br> 7/1/2030 <sup>(a)</sup>  | 470 | 470 |
| County of King, Limited Tax GO and Rev. Ref. Bonds, Series 2021-A, 4.00% 1/1/2026  | 1000 | 1000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **231** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Short Duration Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Washington (continued)** | **Washington (continued)** | **Washington (continued)** |
| County of King, Sewer Improvement and Rev. Ref. Bonds, Series 2016-B, 5.00% 7/1/2041 (preref. 7/1/2026)  | USD<br> 1,785<br>| $1806 |
| Port of Seattle, Intermediate Lien Rev. Ref. Bonds, Series 2024-A, 5.00% 3/1/2026  | 1455 | 1461 |
| Port of Seattle, Rev. Bonds, Series 2019, AMT, 5.00% 4/1/2029  | 2000 | 2125 |
| Port of Seattle, Rev. Ref. Bonds, Series 2024-B, AMT, 5.00% 7/1/2026  | 2000 | 2021 |
| Various Purpose GO Bonds, Series 2017-D, 5.00% 2/1/2026  | 385 | 386 |
| Various Purpose GO Bonds, Series 2023-B, 5.00% 2/1/2026  | 1500 | 1503 |
| Various Purpose GO Rev. Ref. Bonds, Series 2022-R-C, 4.00% 7/1/2026  | 2045 | 2061 |
| Various Purpose GO Rev. Ref. Bonds, Series 2025-R-D, 5.00% 8/1/2029  | 2980 | 3244 |
| Various Purpose GO Rev. Ref. Bonds, Series 2025-R-B, 5.00% 7/1/2030  | 1890 | 2095 |
|  |  | 24046 |
| **West Virginia 0.20%** | **West Virginia 0.20%** | **West Virginia 0.20%** |
| Housing Dev. Fund, Multi Family Housing Rev. Bonds (Rivermont), Series 2025, 3.20% 2/1/2029 (put 2/1/2028)  | 1950 | 1953 |
| **Wisconsin 2.55%** | **Wisconsin 2.55%** | **Wisconsin 2.55%** |
| GO Bonds, Series 2020-B, 5.00% 5/1/2026  | 1400 | 1412 |
| GO Bonds, Series 2023-B, 5.00% 5/1/2026  | 1000 | 1008 |
| GO Rev. Ref. Bonds, Series 2025-2, 5.00% 5/1/2026  | 2000 | 2016 |
| GO Rev. Ref. Bonds, Series 2017-3, 5.00% 11/1/2027  | 1000 | 1034 |
| Health and Educational Facs. Auth., Rev. Bonds (Ascension Health Senior Credit Group), Series 2016-A, 4.00% <br> 11/15/2046 (preref. 5/15/2026)  | 1210 | 1216 |
| Health and Educational Facs. Auth., Rev. Bonds (Capital Lakes, Inc.), Series 2025-B, 4.25% 11/15/2029  | 2500 | 2505 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2025-A, 6.25% 9/1/2055  | 5835 | 6496 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds (Social Bonds), Series 2024-C, 6.00% 3/1/2055  | 360 | 393 |
| Public Fin. Auth., Air Cargo Obligated Group Rev. Bonds (AFCO Airport Real Estate Group), Series 2023, AMT, 5.00% <br> 7/1/2031  | 1875 | 1997 |
| Public Fin. Auth., Infrastructure Program Anticipation Improvement and Rev. Ref. Bonds (Astro Texas Land Projects), <br> Series 2025, 5.00% 12/15/2036 <sup>(a)</sup>  | 723 | 717 |
| Public Fin. Auth., Infrastructure Program Rev. Anticipation Bonds (Mayfair Project), Series 2024-A-4, 5.50% <br>11/15/2032 <sup>(a)</sup>  | 994 | 996 |
| Public Fin. Auth., Infrastructure Program Rev. Anticipation Bonds (Two Step Project), CAB, Series 2024, 0% <br>12/15/2034 <sup>(a)</sup>  | 1545 | 908 |
| Public Fin. Auth., Rev. Ref. Bonds (Celanese Corp.), Series 2016-C, AMT, 4.30% 11/1/2030  | 2000 | 2000 |
| Public Fin. Auth., Special Fac. Rev. Bonds (Million Air Three LLC General Aviation Facs. Project), Series 2024-A, AMT, <br> 5.50% 9/1/2030 <sup>(a)</sup>  | 130 | 136 |
| Public Fin. Auth., Special Rev. Bonds (Candela Project), Series 2023, 6.125% 12/15/2029 <sup>(a)</sup>  | 100 | 101 |
| Public Fin. Auth., Special Rev. Bonds (Signorelli Projects, Municipal Utility Dists., Montgomery and Waller Counties), <br> Series 2024, 5.375% 12/15/2032 <sup>(a)</sup>  | 294 | 294 |
| University of Wisconsin, Hospitals and Clinics Auth., Rev. Green Bonds, Series 2024-A, 5.00% 4/1/2029  | 1000 | 1075 |
|  |  | 24304 |
| **Total bonds, notes & other debt instruments** (cost: $888,897,000) |  | 898234 |
| Short-term securities 6.02% |  |  |
| **Municipals 6.02%** | **Municipals 6.02%** | **Municipals 6.02%** |
| State of Alaska, City of Valdez, Marine Terminal Rev. Ref. Bonds (Exxon Pipeline Co. Project), Series 1993-A, 2.50% <br> 12/1/2033 <sup>(b)</sup>  | 1100 | 1100 |
| State of Florida, City of Gainesville, Utilities System Rev. Bonds, Series 2019-C, 2.58% 10/1/2047 <sup>(b)</sup>  | 115 | 115 |
| State of Florida, Fin. Auth., Econ. Dev. Rev. Ref. Bonds (Republic Services, Inc. Project), Series 2010-A, AMT, 3.45% <br> 5/1/2028 (put 3/2/2026) <sup>(e)</sup>  | 2890 | 2890 |
| State of Hawaii, Dept. of Budget and Fin., Special Purpose Rev. Bonds (The Queen's Health Systems), Series 2025-B, <br> 2.30% 7/1/2060 <sup>(b)</sup>  | 1900 | 1900 |
| State of Illinois, Fin. Auth., Demand Rev. Bonds (University of Chicago Medical Center), Series 2011-A, 2.50% <br>8/1/2044 <sup>(b)</sup>  | 1250 | 1250 |
| State of Louisiana, Parish of East Baton Rouge, Pollution Control Rev. Ref. Bonds (ExxonMobil Project), Series 2010-A, <br> 2.52% 8/1/2035 <sup>(b)</sup>  | 1100 | 1100 |
| State of Maryland, County of Montgomery, GO Consolidated Public Improvement Bonds, Series 2017-E, 2.45% <br> 11/1/2037 <sup>(b)</sup>  | 3400 | 3400 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **232** |

---

------

Capital Group Short Duration Municipal Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Short-term securities (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Municipals (continued)** | **Municipals (continued)** | **Municipals (continued)** |
| State of Minnesota, GO State Trunk Highway Rev. Ref. Bonds, Series 2025-E, 5.00% 8/1/2026  | USD<br> 2,000<br>| $2029 |
| State of Missouri, Health and Educational Facs. Auth., Demand Educational Facs. Rev. Bonds (Washington University), <br> Series 2000-B, 2.40% 3/1/2040 <sup>(b)</sup>  | 2000 | 2000 |
| State of New York, New York City GO Bonds, Fiscal 2008, Series 2008-L-3, 2.50% 4/1/2036 <sup>(b)</sup>  | 2200 | 2200 |
| State of New York, New York City GO Bonds, Fiscal 2013, Series 2013-F-3, 2.50% 3/1/2042 <sup>(b)</sup>  | 1700 | 1700 |
| State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2019, Series 2019-B-4, 2.50% <br> 8/1/2042 <sup>(b)</sup>  | 6400 | 6400 |
| State of New York, Triborough Bridge and Tunnel Auth., General Rev. Bonds, Series 2001-C, 2.50% 1/1/2032 <sup>(b)</sup>  | 2125 | 2125 |
| State of New York, Triborough Bridge and Tunnel Auth., General Rev. Ref. Bonds, Series 2005-B-3, 2.50% 1/1/2035 <sup>(b)</sup>  | 3560 | 3560 |
| State of Ohio, Hospital Rev. Bonds (Cleveland Clinic Health System Obligated Group), Series 2013-B-3, 2.55% <br> 1/1/2039 <sup>(b)</sup>  | 100 | 100 |
| State of Pennsylvania, Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Republic Services, Inc. Project), Series <br> 2019-B-2, AMT, 3.85% 4/1/2049 (put 1/15/2026) <sup>(e)</sup>  | 1110 | 1110 |
| State of South Carolina, Jobs-Econ. Dev. Auth., Hospital Rev. Bonds (Prisma Health Obligated Group), Series 2018-B, <br> 2.45% 5/1/2048 <sup>(b)</sup>  | 15905 | 15905 |
| State of Texas, County of Collin, Limited Tax Permanent Improvement and Rev. Ref. Bonds, Series 2025, 5.00% <br> 2/15/2026  | 900 | 903 |
| State of Texas, Keller Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2025, 5.00% 2/15/2026  | 3000 | 3008 |
| State of Texas, San Antonio Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.00% <br> 8/15/2026  | 1155 | 1173 |
| State of Texas, Sherman Independent School Dist., Unlimited Tax School Building Bonds, Series 2025, 5.00% <br> 2/15/2026  | 770 | 772 |
| State of Wyoming, County of Lincoln, Pollution Control Rev. Ref. Bonds (ExxonMobil Project), Series 2014, 2.52% <br> 10/1/2044 <sup>(b)</sup>  | 2700 | 2700 |
|  |  | 57440 |
| **Total short-term securities** (cost: $57,440,000) |  | 57440 |
| **Total investment securities 100.20%** (cost: $946,337,000) |  | 955674 |
| Other assets less liabilities (0.20)% |  | (1861)<br>|
| **Net assets 100.00%** |  | $953813 |

---

**Swap contracts**

------

**Interest rate swaps**

**Centrally cleared interest rate swaps** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| 3.3665% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 12/16/2027 | USD55,440 | &nbsp;&nbsp;&nbsp;&nbsp; $52 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $52 |
| SOFR | Annual | 3.60% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 11/28/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 21777 | &nbsp;&nbsp;&nbsp;&nbsp; 341 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 341 |
| 3.768% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 12/10/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 9117 | &nbsp;&nbsp;&nbsp;&nbsp; (17)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (17)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $376 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $376 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **233** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Short Duration Municipal Income ETF (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) 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 $36,725,000, which represented 3.85% of the net assets of the fund. 

<sup>(b)</sup> 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. 

<sup>(c)</sup> Step bond; coupon rate may change at a later date.

<sup>(d)</sup> Scheduled interest and/or principal payment was not received.

<sup>(e)</sup> For short-term securities, the mandatory put date is considered to be the maturity date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| Agcy. = Agency |
| AGI = Assured Guaranty insured |
| AMBAC = American Municipal Bond Assurance Company insured |
| AMT = Alternative Minimum Tax |
| Assn. = Association |
| Auth. = Authority |
| BAM = Build America Mutual insured |
| CAB = Capital Appreciation Bonds |
| Certs. = Certificates |
| Dept. = Department |
| Dev. = Development |
| Dist. = District |
| Dists. = Districts |

---

---

| |
|:---|
| Econ. = Economic |
| Fac. = Facility |
| Facs. = Facilities |
| FHA = Federal Housing Administration insured |
| Fin. = Finance |
| Fncg. = Financing |
| GO = General Obligation |
| NATL = National Public Finance Guarantee Corp. insured |
| preref. = Prerefunded |
| Redev. = Redevelopment |
| Ref. = Refunding |
| Rev. = Revenue |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **234** |

---

------

Capital Group Ultra Short Income ETF

**Investment portfolio** December 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments 78.10% | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes 52.04%** | **Corporate bonds and notes 52.04%** | **Corporate bonds and notes 52.04%** |
| **Financials 25.56%** |  |  |
| AerCap Ireland Capital DAC 1.75% 1/30/2026  | USD<br> 250<br>| $250 |
| Arthur J. Gallagher & Co. 4.60% 12/15/2027  | 874 | 884 |
| Bank of America Corp. 6.22% 9/15/2026  | 400 | 406 |
| Bank of America Corp. 5.08% 1/20/2027 (USD-SOFR + 1.29% on 1/20/2026) <sup>(a)</sup>  | 900 | 900 |
| Bank of America Corp. 1.658% 3/11/2027 (USD-SOFR + 0.91% on 3/11/2026) <sup>(a)</sup>  | 2200 | 2190 |
| Bank of Montreal 4.062% 9/22/2028 (USD-SOFR Index + 0.75% on 9/22/2027) <sup>(a)</sup>  | 400 | 401 |
| Bank of Nova Scotia (The) 4.043% 9/15/2028 (USD-SOFR + 0.76% on 9/15/2027) <sup>(a)</sup>  | 600 | 600 |
| Barclays PLC 4.375% 1/12/2026  | 500 | 500 |
| Barclays PLC 5.20% 5/12/2026  | 1925 | 1934 |
| Brown & Brown, Inc. 4.60% 12/23/2026  | 1250 | 1257 |
| Canadian Imperial Bank of Commerce 4.508% 9/11/2027 (USD-SOFR + 0.93% on 9/11/2026) <sup>(a)</sup>  | 1422 | 1427 |
| Capital One Financial Corp. 3.75% 7/28/2026  | 1900 | 1896 |
| Charles Schwab Corp. (The) 3.45% 2/13/2026  | 514 | 514 |
| Charles Schwab Corp. (The) 0.90% 3/11/2026  | 200 | 199 |
| Charles Schwab Corp. (The) 5.875% 8/24/2026  | 150 | 152 |
| Citigroup, Inc. 3.70% 1/12/2026  | 600 | 600 |
| Citigroup, Inc. 4.60% 3/9/2026  | 2900 | 2902 |
| Citigroup, Inc. 1.462% 6/9/2027 (USD-SOFR + 0.67% on 6/9/2026) <sup>(a)</sup>  | 400 | 395 |
| Citigroup, Inc., 4.643% 5/7/2028 (USD-SOFR + 1.143% on 5/7/2027) <sup>(a)</sup>  | 950 | 958 |
| Cooperatieve Rabobank UA 3.75% 7/21/2026  | 1650 | 1646 |
| Deutsche Bank AG 4.10% 1/13/2026  | 927 | 927 |
| Deutsche Bank AG 4.10% 1/13/2026  | 700 | 700 |
| Deutsche Bank AG 1.686% 3/19/2026  | 250 | 249 |
| Deutsche Bank AG 7.146% 7/13/2027 (USD-SOFR + 2.52% on 7/13/2026) <sup>(a)</sup>  | 725 | 736 |
| Fifth Third Bank, National Association 3.85% 3/15/2026  | 3100 | 3098 |
| Goldman Sachs Group, Inc. 4.387% 6/15/2027 (USD-SOFR + 1.51% on 6/15/2026) <sup>(a)</sup>  | 2034 | 2037 |
| Goldman Sachs Group, Inc. 1.542% 9/10/2027 (USD-SOFR + 0.818% on 9/10/2026) <sup>(a)</sup>  | 400 | 393 |
| HSBC Holdings PLC 4.30% 3/8/2026  | 700 | 700 |
| Intesa Sanpaolo SpA 5.71% 1/15/2026 <sup>(b)</sup>  | 300 | 300 |
| JPMorgan Chase & Co. 3.30% 4/1/2026  | 200 | 200 |
| JPMorgan Chase & Co. 1.04% 2/4/2027 (USD-SOFR + 0.695% on 2/4/2026) <sup>(a)</sup>  | 300 | 299 |
| JPMorgan Chase & Co. 1.578% 4/22/2027 (USD-SOFR + 0.885% on 4/22/2026) <sup>(a)</sup>  | 1900 | 1886 |
| JPMorgan Chase & Co. 6.07% 10/22/2027 (USD-SOFR + 1.33% on 10/22/2026) <sup>(a)</sup>  | 200 | 203 |
| JPMorgan Chase & Co. 4.505% 10/22/2028 (USD-SOFR + 0.86% on 10/22/2027) <sup>(a)</sup>  | 500 | 505 |
| Lloyds Banking Group PLC 4.65% 3/24/2026  | 700 | 701 |
| Met Tower Global Funding 4.80% 1/14/2028 <sup>(b)</sup>  | 450 | 458 |
| Morgan Stanley 3.875% 1/27/2026  | 1100 | 1100 |
| Morgan Stanley 4.35% 9/8/2026  | 200 | 200 |
| Morgan Stanley 1.593% 5/4/2027 (USD-SOFR + 0.879% on 5/4/2026) <sup>(a)</sup>  | 800 | 793 |
| Morgan Stanley 1.512% 7/20/2027 (USD-SOFR + 0.858% on 7/20/2026) <sup>(a)</sup>  | 300 | 296 |
| Morgan Stanley Private Bank, National Association 4.204% 11/17/2028 (USD-SOFR + 0.78% on <br> 11/17/2027) <sup>(a)</sup>  | 500 | 502 |
| NatWest Group PLC 4.80% 4/5/2026  | 500 | 501 |
| NatWest Group PLC 1.642% 6/14/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.90% on <br> 6/14/2026) <sup>(a)</sup>  | 300 | 297 |
| Navient Corp. 6.75% 6/15/2026  | 600 | 608 |
| Navient Corp. 5.00% 3/15/2027  | 500 | 501 |
| PNC Bank, NA 4.543% 5/13/2027 (USD-SOFR + 0.63% on 5/13/2026) <sup>(a)</sup>  | 930 | 931 |
| PNC Financial Services Group, Inc. 1.15% 8/13/2026  | 200 | 197 |
| PNC Financial Services Group, Inc. 5.102% 7/23/2027 (USD-SOFR + 0.796% on 7/23/2026) <sup>(a)</sup>  | 400 | 402 |
| Royal Bank of Canada 4.65% 1/27/2026  | 925 | 925 |
| State Street Corp. 4.543% 4/24/2028 (USD-SOFR + 0.95% on 4/24/2027) <sup>(a)</sup>  | 554 | 559 |
| Toronto-Dominion Bank (The) 0.75% 1/6/2026  | 300 | 300 |
| Toronto-Dominion Bank (The) 4.568% 12/17/2026  | 850 | 855 |
| Truist Bank 3.30% 5/15/2026  | 600 | 598 |
| U.S. Bancorp 3.10% 4/27/2026  | 1350 | 1347 |
| UBS Group AG 1.494% 8/10/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.85% on <br> 8/10/2026) <sup>(a)(b)</sup>  | 400 | 394 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **235** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Ultra Short Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Financials (continued)** |  |  |
| Wells Fargo & Co. 3.00% 4/22/2026  | USD<br> 300<br>| $299 |
| Wells Fargo & Co. 4.10% 6/3/2026  | 2145 | 2145 |
| Wells Fargo & Co. 3.196% 6/17/2027 (3-month USD CME Term SOFR + 1.432% on 6/17/2026) <sup>(a)</sup>  | 556 | 554 |
|  |  | 47707 |
| **Consumer discretionary 5.23%** |  |  |
| Ford Motor Credit Co., LLC 4.389% 1/8/2026  | 250 | 250 |
| Ford Motor Credit Co., LLC 6.95% 3/6/2026  | 1750 | 1754 |
| Ford Motor Credit Co., LLC 6.95% 6/10/2026  | 600 | 605 |
| Ford Motor Credit Co., LLC 2.70% 8/10/2026  | 1350 | 1337 |
| Ford Motor Credit Co., LLC 5.125% 11/5/2026  | 750 | 754 |
| Ford Motor Credit Co., LLC 4.125% 8/17/2027  | 300 | 298 |
| General Motors Financial Co., Inc. 1.25% 1/8/2026  | 300 | 300 |
| General Motors Financial Co., Inc. 5.25% 3/1/2026  | 1000 | 1001 |
| General Motors Financial Co., Inc. 5.40% 4/6/2026  | 400 | 402 |
| General Motors Financial Co., Inc. 4.20% 10/27/2028  | 527 | 528 |
| Hyundai Capital America 4.30% 9/24/2027 <sup>(b)</sup>  | 200 | 201 |
| Hyundai Capital America 4.875% 11/1/2027 <sup>(b)</sup>  | 100 | 101 |
| Hyundai Capital America 4.25% 9/18/2028 <sup>(b)</sup>  | 167 | 167 |
| Royal Caribbean Cruises, Ltd. 5.375% 7/15/2027 <sup>(b)</sup>  | 2050 | 2066 |
|  |  | 9764 |
| **Utilities 4.46%** |  |  |
| CMS Energy Corp. 3.00% 5/15/2026  | 1000 | 996 |
| Edison International 4.125% 3/15/2028  | 400 | 396 |
| FirstEnergy Corp., Series B, 4.15% 7/15/2027  | 1250 | 1246 |
| NextEra Energy Capital Holdings, Inc. 4.685% 9/1/2027  | 275 | 278 |
| Pacific Gas and Electric Co. 3.15% 1/1/2026  | 750 | 750 |
| Pacific Gas and Electric Co. 2.95% 3/1/2026  | 545 | 544 |
| Pacific Gas and Electric Co. 2.10% 8/1/2027  | 945 | 917 |
| Pacific Gas and Electric Co. 3.00% 6/15/2028  | 450 | 436 |
| Southern California Edison Co. 1.20% 2/1/2026  | 1150 | 1146 |
| Southern California Edison Co. 5.35% 3/1/2026  | 150 | 150 |
| Southern California Edison Co. 4.90% 6/1/2026  | 500 | 501 |
| Southern California Edison Co. 4.40% 9/6/2026  | 400 | 401 |
| Southern California Edison Co. 5.65% 10/1/2028  | 300 | 311 |
| Southern Co. (The) 3.25% 7/1/2026  | 250 | 249 |
|  |  | 8321 |
| **Consumer staples 3.34%** |  |  |
| Altria Group, Inc. 4.40% 2/14/2026  | 1700 | 1700 |
| BAT International Finance PLC 1.668% 3/25/2026  | 876 | 871 |
| Conagra Brands, Inc. 1.375% 11/1/2027  | 800 | 761 |
| Mars, Inc. 4.45% 3/1/2027 <sup>(b)</sup>  | 500 | 504 |
| Philip Morris International, Inc. 0.875% 5/1/2026  | 200 | 198 |
| Philip Morris International, Inc. 4.375% 11/1/2027  | 200 | 202 |
| Philip Morris International, Inc. 4.125% 4/28/2028  | 600 | 603 |
| Philip Morris International, Inc. 3.875% 10/27/2028  | 300 | 300 |
| Procter & Gamble Co. 4.10% 1/26/2026  | 200 | 200 |
| Procter & Gamble Co. 2.70% 2/2/2026  | 900 | 899 |
|  |  | 6238 |
| **Health care 3.32%** |  |  |
| AstraZeneca PLC 0.70% 4/8/2026  | 500 | 496 |
| Baxter International, Inc. 1.915% 2/1/2027  | 44 | 43 |
| Baxter International, Inc. 4.45% 2/15/2029  | 85 | 85 |
| CVS Health Corp. 5.00% 2/20/2026  | 1335 | 1336 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **236** |

---

------

Capital Group Ultra Short Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Health care (continued)** |  |  |
| CVS Health Corp. 2.875% 6/1/2026  | USD<br> 400<br>| $398 |
| CVS Health Corp. 6.25% 4/1/2027  | 500 | 498 |
| Elevance Health, Inc. 4.50% 10/30/2026  | 200 | 201 |
| HCA, Inc. 5.25% 6/15/2026  | 250 | 250 |
| HCA, Inc. 5.00% 3/1/2028  | 100 | 102 |
| Teva Pharmaceutical Finance Netherlands III BV 3.15% 10/1/2026  | 1800 | 1783 |
| UnitedHealth Group, Inc. 1.25% 1/15/2026  | 200 | 200 |
| UnitedHealth Group, Inc. 3.10% 3/15/2026  | 100 | 100 |
| Utah Acquisition Sub, Inc. 3.95% 6/15/2026  | 700 | 698 |
|  |  | 6190 |
| **Energy 2.57%** |  |  |
| Energy Transfer, LP 4.75% 1/15/2026  | 300 | 300 |
| Occidental Petroleum Corp. 8.50% 7/15/2027  | 100 | 105 |
| Occidental Petroleum Corp. 5.00% 8/1/2027  | 469 | 478 |
| ONEOK, Inc. 4.85% 7/15/2026  | 1125 | 1128 |
| Petroleos Mexicanos 6.49% 1/23/2027  | 200 | 203 |
| Petroleos Mexicanos 6.50% 3/13/2027  | 2350 | 2386 |
| Repsol E&P Capital Markets US, LLC 4.805% 9/16/2028 <sup>(b)</sup>  | 200 | 202 |
|  |  | 4802 |
| **Industrials 2.07%** |  |  |
| Air Lease Corp. 2.875% 1/15/2026  | 550 | 550 |
| Boeing Co. (The) 2.75% 2/1/2026  | 2019 | 2017 |
| Boeing Co. (The) 2.196% 2/4/2026  | 300 | 299 |
| Boeing Co. (The) 3.10% 5/1/2026  | 800 | 797 |
| Boeing Co. (The) 5.04% 5/1/2027  | 200 | 202 |
|  |  | 3865 |
| **Communication services 1.85%** |  |  |
| CCO Holdings, LLC 5.50% 5/1/2026 <sup>(b)</sup>  | 750 | 752 |
| Charter Communications Operating, LLC 3.75% 2/15/2028  | 250 | 246 |
| Charter Communications Operating, LLC 4.20% 3/15/2028  | 500 | 498 |
| TCI Communications, Inc. 7.875% 2/15/2026  | 110 | 110 |
| T-Mobile USA, Inc. 2.25% 2/15/2026  | 1846 | 1842 |
|  |  | 3448 |
| **Information technology 1.84%** |  |  |
| Amphenol Corp. 3.80% 11/15/2027  | 500 | 499 |
| Broadcom, Inc. 4.15% 2/15/2028  | 150 | 150 |
| Cisco Systems, Inc. 4.90% 2/26/2026  | 400 | 401 |
| Intel Corp. 4.875% 2/10/2026  | 50 | 50 |
| Microchip Technology, Inc. 4.90% 3/15/2028  | 499 | 506 |
| Oracle Corp. 1.65% 3/25/2026  | 200 | 199 |
| Oracle Corp. 4.80% 8/3/2028  | 1108 | 1114 |
| Synopsys, Inc. 4.55% 4/1/2027  | 500 | 504 |
|  |  | 3423 |
| **Real estate 1.69%** |  |  |
| Alexandria Real Estate Equities, Inc. 4.30% 1/15/2026  | 400 | 400 |
| Boston Properties, LP 3.65% 2/1/2026  | 450 | 450 |
| Boston Properties, LP 2.75% 10/1/2026  | 825 | 817 |
| COPT Defense Properties, LP 2.25% 3/15/2026  | 600 | 597 |
| Equinix, Inc. 1.45% 5/15/2026  | 100 | 99 |
| Ladder Capital Finance Holdings LLLP 4.25% 2/1/2027 <sup>(b)</sup>  | 800 | 795 |
|  |  | 3158 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **237** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Ultra Short Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Materials 0.11%** |  |  |
| Rio Tinto Finance (USA) PLC 4.375% 3/12/2027  | USD<br> 200<br>| $201 |
| **Total corporate bonds and notes** |  | 97117 |
| **Asset-backed obligations 22.25%** | **Asset-backed obligations 22.25%** | **Asset-backed obligations 22.25%** |
| **Auto loan 11.26%** |  |  |
| American Credit Acceptance Receivables Trust, Series 2025-2, Class A, 4.81% 9/12/2028 <sup>(b)(c)</sup>  | 144 | 145 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2, Class A, 2.02% 2/20/2027 <sup>(b)(c)</sup>  | 200 | 200 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2A, Class B, 2.96% 2/20/2027 <sup>(b)(c)</sup>  | 53 | 53 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2022-5, Class C, 6.24% 4/20/2027 <sup>(b)(c)</sup>  | 67 | 67 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class A, 1.38% 8/20/2027 <sup>(b)(c)</sup>  | 300 | 297 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-2, Class A, 5.20% 10/20/2027 <sup>(b)(c)</sup>  | 500 | 503 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-2, Class B, 6.03% 10/20/2027 <sup>(b)(c)</sup>  | 250 | 253 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-3A, Class A, 5.44% 2/22/2028 <sup>(b)(c)</sup>  | 500 | 506 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-5, Class A, 5.78% 4/20/2028 <sup>(b)(c)</sup>  | 750 | 763 |
| Bridgecrest Lending Auto Securitization Trust, Series 2025-4, Class A2, 4.35% 6/15/2028 <sup>(c)</sup>  | 631 | 632 |
| Bridgecrest Lending Auto Securitization Trust, Series 2023-1, Class B, 6.80% 8/15/2029 <sup>(c)</sup>  | 159 | 160 |
| Carvana Auto Receivables Trust, Series 2021-N4, Class C, 1.72% 9/11/2028 <sup>(c)</sup>  | 90 | 88 |
| Carvana Auto Receivables Trust, Series 2024-N1, Class B, 5.63% 5/10/2030 <sup>(b)(c)</sup>  | 250 | 252 |
| CPS Auto Receivables Trust, Series 2024-A, Class B, 5.65% 5/15/2028 <sup>(b)(c)</sup>  | 110 | 110 |
| CPS Auto Receivables Trust, Series 2024-D, Class A, 4.91% 6/15/2028 <sup>(b)(c)</sup>  | 389 | 389 |
| CPS Auto Receivables Trust, Series 2022-C, Class D, 6.45% 4/15/2030 <sup>(b)(c)</sup>  | 600 | 606 |
| CPS Auto Trust, Series 2025-D, Class A, 4.46% 7/16/2029 <sup>(b)(c)</sup>  | 140 | 140 |
| Drive Auto Receivables Trust, Series 2024-2, Class B, 4.52% 7/16/2029 <sup>(c)</sup>  | 350 | 352 |
| Enterprise Fleet Financing, LLC, Series 2024-4, Class A2, 4.69% 7/20/2027 <sup>(b)(c)</sup>  | 230 | 231 |
| Enterprise Fleet Financing, LLC, Series 2022-1, Class A3, 3.27% 1/20/2028 <sup>(b)(c)</sup>  | 53 | 53 |
| Enterprise Fleet Financing, LLC, Series 2025-4, Class A2, 4.05% 8/20/2028 <sup>(b)(c)</sup>  | 300 | 301 |
| Exeter Automobile Receivables Trust, Series 2023-3A, Class C, 6.21% 6/15/2028 <sup>(c)</sup>  | 649 | 652 |
| Exeter Automobile Receivables Trust, Series 2025-5A, Class A3, 4.24% 11/15/2029 <sup>(c)</sup>  | 67 | 67 |
| Exeter Select Automobile Receivables Trust, Series 2025-1, Class A2, 4.83% 10/16/2028 <sup>(c)</sup>  | 28 | 28 |
| GLS Auto Receivables Trust, Series 2025-2A, Class A2, 4.75% 3/15/2028 <sup>(b)(c)</sup>  | 146 | 146 |
| GLS Auto Receivables Trust, Series 2025-3A, Class A2, 4.52% 7/17/2028 <sup>(b)(c)</sup>  | 700 | 701 |
| GLS Auto Receivables Trust, Series 2025-4A, Class A3, 4.29% 7/16/2029 <sup>(b)(c)</sup>  | 40 | 40 |
| GLS Auto Receivables Trust, Series 2025-2A, Class B, 4.97% 10/15/2029 <sup>(b)(c)</sup>  | 900 | 909 |
| GLS Auto Select Receivables Trust, Series 2024-4A, Class A2, 4.43% 12/17/2029 <sup>(b)(c)</sup>  | 31 | 31 |
| GMF Floorplan Owner Revolving Trust, Series 2024-1, Class A1, 5.13% 3/15/2029 <sup>(b)(c)</sup>  | 750 | 762 |
| Hertz Vehicle Financing III, LLC, Series 2023-1, Class A, 5.49% 6/25/2027 <sup>(b)(c)</sup>  | 750 | 753 |
| Hertz Vehicle Financing III, LLC, Series 2022-2A, Class A, 2.33% 6/26/2028 <sup>(b)(c)</sup>  | 560 | 547 |
| Hertz Vehicle Financing, LLC, Series 2023-1A, Class B, 6.22% 6/25/2027 <sup>(b)(c)</sup>  | 150 | 151 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class A, 1.68% 12/27/2027 <sup>(b)(c)</sup>  | 450 | 442 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class B, 2.12% 12/27/2027 <sup>(b)(c)</sup>  | 750 | 736 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class C, 2.52% 12/27/2027 <sup>(b)(c)</sup>  | 250 | 245 |
| Hertz Vehicle Financing, LLC, Series 2023-3A, Class A, 5.94% 2/25/2028 <sup>(b)(c)</sup>  | 512 | 520 |
| Hertz Vehicle Financing, LLC, Series 2025-1A, Class A, 4.91% 9/25/2029 <sup>(b)(c)</sup>  | 100 | 101 |
| Huntington National Bank (The), Series 2024-1, Class B2, (30-day Average USD-SOFR + 1.40%) 5.318% <br> 5/20/2032 <sup>(b)(c)(d)</sup>  | 237 | 238 |
| Huntington National Bank (The), Series 2024-2, Class B2, (30-day Average USD-SOFR + 1.35%) 5.268% <br> 10/20/2032 <sup>(b)(c)(d)</sup>  | 244 | 245 |
| LAD Auto Receivables Trust, Series 2023-1, Class C, 6.18% 12/15/2027 <sup>(b)(c)</sup>  | 300 | 301 |
| LAD Auto Receivables Trust, Series 2024-2, Class A3, 5.61% 8/15/2028 <sup>(b)(c)</sup>  | 78 | 78 |
| PenFed Auto Receivables Owner Trust, Series 2025-A, Class A2, 4.12% 9/15/2028 <sup>(b)(c)</sup>  | 198 | 198 |
| Santander Drive Auto Receivables Trust, Series 2024-5, Class A3, 4.62% 11/15/2028 <sup>(c)</sup>  | 982 | 984 |
| Santander Drive Auto Receivables Trust, Series 2024-3, Class B, 5.55% 9/17/2029 <sup>(c)</sup>  | 260 | 263 |
| Securitized Term Auto Receivables Trust, Series 2025-A, Class B, 5.038% 7/25/2031 <sup>(b)(c)</sup>  | 626 | 632 |
| SFS Auto Receivables Securitization Trust, Series 2024-1, Class A3, 4.95% 5/21/2029 <sup>(b)(c)</sup>  | 460 | 463 |
| Space Coast Credit Union, Series 2025-1A, Class A2, 4.67% 11/15/2028 <sup>(b)(c)</sup>  | 485 | 487 |
| Stellantis Financial Underwritten Enhanced Lease Trust, Series 2025-AA, Class A2, 4.63% 7/20/2027 <sup>(b)(c)</sup>  | 61 | 61 |
| Truist Bank Auto Credit-Linked Notes, Series 2025-1, Class B, 4.728% 9/26/2033 <sup>(b)(c)</sup>  | 227 | 227 |
| United Auto Credit Securitization Trust, Series 2025-1, Class A, 4.80% 6/10/2027 <sup>(b)(c)</sup>  | 52 | 52 |
| United Auto Credit Securitization Trust, Series 2025-1, Class C, 5.15% 6/10/2030 <sup>(b)(c)</sup>  | 680 | 684 |
| VStrong Auto Receivables Trust, Series 2024-A, Class B, 5.77% 7/15/2030 <sup>(b)(c)</sup>  | 449 | 456 |
| Western Funding Auto Loan Trust, Series 2025-1, Class A, 4.75% 7/16/2035 <sup>(b)(c)</sup>  | 56 | 57 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **238** |

---

------

Capital Group Ultra Short Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| **Auto loan (continued)** |  |  |
| Westlake Automobile Receivables Trust, Series 2025-P1, Class A2, 4.65% 2/15/2028 <sup>(b)(c)</sup>  | USD<br> 775<br>| $778 |
| Westlake Automobile Receivables Trust, Series 2024-2, Class A3, 5.56% 2/15/2028 <sup>(b)(c)</sup>  | 500 | 502 |
| Westlake Automobile Receivables Trust, Series 2024-3A, Class A3, 4.71% 4/17/2028 <sup>(b)(c)</sup>  | 400 | 401 |
| Westlake Automobile Receivables Trust, Series 2025-2A, Class A2A, 4.66% 9/15/2028 <sup>(b)(c)</sup>  | 400 | 401 |
| Westlake Flooring Master Trust, Series 2025-1A, Class A, 4.23% 10/15/2029 <sup>(b)(c)</sup>  | 187 | 187 |
| Wheels Fleet Lease Funding, LLC, Series 2024-3A, Class A1, 4.80% 9/19/2039 <sup>(b)(c)</sup>  | 384 | 388 |
|  |  | 21015 |
| **Other asset-backed securities 8.08%** |  |  |
| ACHV ABS Trust, Series 2024-2PL, Class A, 5.07% 10/27/2031 <sup>(b)(c)</sup>  | 39 | 39 |
| ACHV ABS Trust, Series 2024-3AL, Class A, 5.01% 12/26/2031 <sup>(b)(c)</sup>  | 282 | 285 |
| ACHV ABS Trust, Series 2025-1PL, Class A, 4.76% 4/26/2032 <sup>(b)(c)</sup>  | 33 | 33 |
| Affirm Asset Securitization Trust, Series 2025-X2, Class A, 4.45% 10/15/2030 <sup>(b)(c)</sup>  | 457 | 458 |
| Affirm, Inc., Series 2024, Class 1A, 5.61% 2/15/2029 <sup>(b)(c)</sup>  | 1050 | 1052 |
| Affirm, Inc., Series 2024-X2, Class A, 5.22% 12/17/2029 <sup>(b)(c)</sup>  | 19 | 19 |
| Affirm, Inc., Series 2025-X1, Class A, 5.08% 4/15/2030 <sup>(b)(c)</sup>  | 71 | 71 |
| Ansley Park Capital, LLC, Series 2025-A, Class A2, 4.43% 4/20/2035 <sup>(b)(c)</sup>  | 163 | 164 |
| Auxilior Term Funding, LLC, Series 2023-1A, Class A3, 5.70% 2/15/2030 <sup>(b)(c)</sup>  | 150 | 152 |
| Auxilior Term Funding, LLC, Series 24-1, Class A3, 5.49% 7/15/2031 <sup>(b)(c)</sup>  | 255 | 260 |
| AXIS Equipment Finance Receivables, LLC, Series 2022-2A, Class B, 5.65% 10/20/2028 <sup>(b)(c)</sup>  | 400 | 402 |
| Blue Owl Asset Leasing Trust, Series 2024-1A, Class A2, 5.05% 3/15/2029 <sup>(b)(c)</sup>  | 94 | 94 |
| CAL Funding IV, Ltd., Series 2020-1A, Class A, 2.22% 9/25/2045 <sup>(b)(c)</sup>  | 452 | 434 |
| Capteris Equipment Finance, Series 2024-1, Class A2, 5.58% 7/20/2032 <sup>(b)(c)</sup>  | 285 | 290 |
| CCG Receivables Trust, Series 2023-2, Class A2, 6.28% 4/14/2032 <sup>(b)(c)</sup>  | 374 | 379 |
| Clarus Capital Funding, LLC, Series 2024-1A, Class A2, 4.71% 8/20/2032 <sup>(b)(c)</sup>  | 51 | 52 |
| CLI Funding VIII, LLC, Series 2021-1A, Class A, 2.38% 2/18/2046 <sup>(b)(c)</sup>  | 48 | 44 |
| Commercial Equipment Finance, Series 2025-1A, Class A, 4.83% 5/15/2031 <sup>(b)(c)</sup>  | 149 | 150 |
| Dext ABS, LLC, Series 2025-2, Class A2, 4.10% 4/17/2028 <sup>(b)(c)</sup>  | 144 | 144 |
| Frontier Issuer, LLC, Series 2023-1, Class A2, 6.60% 8/20/2053 <sup>(b)(c)</sup>  | 200 | 202 |
| GreatAmerica Leasing Receivables Funding, LLC, Series 2024-1, Class A3, 4.98% 1/18/2028 <sup>(b)(c)</sup>  | 830 | 837 |
| HPEFS Equipment Trust, Series 2024-2, Class B, 5.35% 10/20/2031 <sup>(b)(c)</sup>  | 370 | 374 |
| Merchants Fleet Funding, LLC, Series 2024-1, Class A, 5.82% 4/20/2037 <sup>(b)(c)</sup>  | 398 | 401 |
| MMAF Equipment Finance, LLC, Series 20-A, Class A3, 0.97% 4/9/2027 <sup>(b)(c)</sup>  | 151 | 150 |
| MMP Capital, Series 2025-A, Class A, 5.36% 12/15/2031 <sup>(b)(c)</sup>  | 79 | 80 |
| NMEF Funding, LLC, Series 2024-A, Class A2, 5.15% 12/15/2031 <sup>(b)(c)</sup>  | 343 | 345 |
| NMEF Funding, LLC, Series 2025-A, Class A2, 4.72% 7/15/2032 <sup>(b)(c)</sup>  | 1037 | 1042 |
| NMEF Funding, LLC, Series 2025-B, Class A2, 4.64% 1/18/2033 <sup>(b)(c)</sup>  | 127 | 128 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-1, Class A, 6.27% 6/17/2031 <sup>(b)(c)</sup>  | 250 | 253 |
| OnDeck Asset Securitization Trust, LLC, Series 2025-1A, Class A, 5.08% 4/19/2032 <sup>(b)(c)</sup>  | 400 | 403 |
| OnDeck Asset Securitization Trust, LLC, Series 2025-2A, Class A, 4.84% 11/17/2032 <sup>(b)(c)</sup>  | 100 | 101 |
| Pagaya AI Debt Selection Trust, Series 2025-R3, Class A, 4.841% 1/18/2033 <sup>(b)(c)</sup>  | 268 | 269 |
| Pagaya Point Of Sale Holdings Grantor Trust, Series 2025-2, Class A, 5.065% 7/20/2033 <sup>(b)(c)</sup>  | 508 | 511 |
| PEAC Solutions Receivables, LLC, Series 2024-2A, Class A2, 4.74% 4/20/2027 <sup>(b)(c)</sup>  | 40 | 40 |
| PFS Financing Corp., Series 2023-B, Class A, 5.27% 5/15/2028 <sup>(b)(c)</sup>  | 580 | 583 |
| Post Road Equipment Finance, Series 2024-1, Class C, 5.81% 10/15/2030 <sup>(b)(c)</sup>  | 500 | 507 |
| Reach Financial, LLC, Series 2024-2, Class A, 5.88% 7/15/2031 <sup>(b)(c)</sup>  | 52 | 52 |
| Synchrony Card Issuance Trust, Series 2023-A2, Class A, 5.74% 10/15/2029 <sup>(c)</sup>  | 750 | 761 |
| Synchrony Card Issuance Trust, Series 2024-A2, Class A, 4.93% 7/15/2030 <sup>(c)</sup>  | 1000 | 1017 |
| Synchrony Card Issuance Trust, Series 2025-A3, Class A, 4.06% 11/17/2031 <sup>(c)</sup>  | 233 | 234 |
| TAL Advantage V, LLC, Series 2020-1A, Class A, 2.05% 9/20/2045 <sup>(b)(c)</sup>  | 381 | 366 |
| Textainer Marine Containers, Ltd., Series 2020-3, Class A, 2.11% 9/20/2045 <sup>(b)(c)</sup>  | 386 | 370 |
| Textainer Marine Containers, Ltd., Series 2021-2A, Class B, 2.82% 4/20/2046 <sup>(b)(c)</sup>  | 63 | 59 |
| U.S. Bank National Association, Series 2025-SUP1, Class B, 5.582% 2/25/2032 <sup>(b)(c)</sup>  | 161 | 162 |
| U.S. Bank National Association, Series 2025-SUP2, Class B1, 4.818% 9/25/2032 <sup>(b)(c)</sup>  | 230 | 231 |
| USQ Rail, Series 2021-3A, Class A, 2.21% 6/28/2051 <sup>(b)(c)</sup>  | 412 | 397 |
| Verdant Receivables, LLC, Series 2025-1A, Class A2, 4.85% 3/13/2028 <sup>(b)(c)</sup>  | 96 | 97 |
| Verizon Master Trust, Series 2025-3, Class A1A, 4.51% 3/20/2030 (5.26% on 11/20/2027) <sup>(a)(c)</sup>  | 76 | 77 |
| Verizon Master Trust, Series 2025-9, Class A1A, 3.96% 10/21/2030 (4.67% on 10/20/2027) <sup>(a)(c)</sup>  | 256 | 257 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **239** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Ultra Short Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| **Other asset-backed securities (continued)** |  |  |
| VFI ABS, LLC, Series 2025-1A, Class A, 4.78% 6/24/2030 <sup>(b)(c)</sup>  | USD<br> 85<br>| $85 |
| Wingspire Equipment Finance, LLC, Series 2024-1A, Class A2, 4.99% 9/20/2032 <sup>(b)(c)</sup>  | 68 | 68 |
| Wingspire Equipment Finance, LLC, Series 2025-1A, Class A2, 4.33% 9/20/2033 <sup>(b)(c)</sup>  | 100 | 100 |
|  |  | 15081 |
| **Credit card 2.26%** |  |  |
| Avant Credit Card Master Trust, Series 2024-2A, Class A, 5.38% 5/15/2029 <sup>(b)(c)</sup>  | 200 | 201 |
| Brex Commercial Charge Card Master Trust, Series 2024-1, Class A1, 6.05% 7/15/2027 <sup>(b)(c)</sup>  | 1321 | 1325 |
| First National Master Note Trust, Series 2023-2, Class A, 5.77% 9/17/2029 <sup>(c)</sup>  | 750 | 760 |
| First National Master Note Trust, Series 2024-1, Class A, 5.34% 5/15/2030 <sup>(c)</sup>  | 550 | 561 |
| Imprint Payments Credit Card Master Trust, Series 2025-A, Class A, 4.84% 9/15/2029 <sup>(b)(c)</sup>  | 100 | 100 |
| Mission Lane Credit Card Master Trust, Series 2024-A, Class A1, 6.20% 8/15/2029 <sup>(b)(c)</sup>  | 690 | 694 |
| Mission Lane Credit Card Master Trust, Series 2025-C, Class A, 4.78% 12/16/2030 <sup>(b)(c)</sup>  | 100 | 101 |
| World Financial Network Credit Card Master Trust, Series 2023-A, Class A, 5.02% 3/15/2030 <sup>(c)</sup>  | 470 | 472 |
|  |  | 4214 |
| **Collateralized loan obligations 0.65%** |  |  |
| Apex Credit CLO, LLC, Series 2021-2A, Class A1AR, (3-month USD CME Term SOFR + 1.18%) 5.064% <br> 10/20/2034 <sup>(b)(c)(d)</sup>  | 312 | 312 |
| ARES CLO, Ltd., Series 2019-53A, Class A1R2, (3-month USD CME Term SOFR + 1.09%) 4.856% <br> 10/24/2036 <sup>(b)(c)(d)</sup>  | 339 | 339 |
| Dryden Senior Loan Fund, CLO, Series 2015-37, Class AR, (3-month USD CME Term SOFR + 1.362%) 5.266% <br> 1/15/2031 <sup>(b)(c)(d)</sup>  | 192 | 193 |
| Steele Creek CLO, Ltd., Series 2019-1A, Class ARR, (3-month USD CME Term SOFR + 1.04%) 4.945% <br> 4/15/2032 <sup>(b)(c)(d)</sup>  | 149 | 149 |
| Trinitas CLO, Ltd., Series 2020-12A, Class A1R2, (3-month USD CME Term SOFR + 1.05%) 4.908% <br> 4/25/2033 <sup>(b)(c)(d)</sup>  | 214 | 214 |
|  |  | 1207 |
| **Total asset-backed obligations** |  | 41517 |
| **Mortgage-backed obligations 3.81%** | **Mortgage-backed obligations 3.81%** | **Mortgage-backed obligations 3.81%** |
| **Collateralized mortgage-backed obligations (privately originated) 2.40%** |  |  |
| BRAVO Residential Funding Trust, Series 2023-NQM8, Class A1, 6.394% 10/25/2063 (7.394% on <br> 11/1/2027) <sup>(a)(b)(c)</sup>  | 62 | 62 |
| Cascade Funding Mortgage Trust, Series 2024-HB13, Class A, 3.00% 5/25/2034 <sup>(b)(c)(d)</sup>  | 79 | 78 |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class A, 4.00% 8/25/2034 <sup>(b)(c)(d)</sup>  | 53 | 52 |
| COLT Funding, LLC, Series 2023-3, Class A1, 7.18% 9/25/2068 (8.18% on 9/1/2027) <sup>(a)(b)(c)</sup>  | 57 | 58 |
| COLT Funding, LLC, Series 2023-4, Class A1, 7.163% 10/25/2068 (8.163% on 10/1/2027) <sup>(a)(b)(c)</sup>  | 425 | 431 |
| Connecticut Avenue Securities Trust, Series 2024-R02, Class 1M1, (30-day Average USD-SOFR + 1.10%) <br> 4.974% 2/25/2044 <sup>(b)(c)(d)</sup>  | 173 | 173 |
| Connecticut Avenue Securities Trust, Series 2025-R02, Class 1A1, (30-day Average USD-SOFR + 1.00%) <br> 4.874% 2/25/2045 <sup>(b)(c)(d)</sup>  | 10 | 10 |
| Connecticut Avenue Securities Trust, Series 2025-R02, Class 1M1, (30-day Average USD-SOFR + 1.15%) <br> 5.024% 2/25/2045 <sup>(b)(c)(d)</sup>  | 116 | 117 |
| Finance of America HECM Buyout, Series 24-HB1, Class A1A, 4.00% 10/1/2034 <sup>(b)(c)(d)</sup>  | 8 | 8 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA2, Class M1A, (30-day Average <br> USD-SOFR + 1.30%) 5.174% 2/25/2042 <sup>(b)(c)(d)</sup>  | 61 | 61 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA2, Class A1, (30-day Average <br> USD-SOFR + 1.25%) 5.124% 5/25/2044 <sup>(b)(c)(d)</sup>  | 709 | 712 |
| Home Partners of America Trust, Series 2021-2, Class C, 2.402% 12/17/2026 <sup>(b)(c)</sup>  | 144 | 141 |
| MFRA Trust, Series 2025-NQM3, Class A1, 5.261% 8/25/2070 (6.261% on 7/1/2029) <sup>(a)(b)(c)</sup>  | 97 | 97 |
| Mill City Mortgage Trust, Series 15-1, Class M3, 3.768% 6/25/2056 <sup>(b)(c)(d)</sup>  | 442 | 439 |
| Onslow Bay Financial, LLC, Series 2023-NQM10, Class A1, 6.465% 10/25/2063 (7.465% on 11/1/2027) <sup>(a)(b)(c)</sup>  | 112 | 113 |
| Towd Point Mortgage Trust, Series 2015-5, Class M2, 3.50% 5/25/2055 <sup>(b)(c)(d)</sup>  | 24 | 23 |
| Towd Point Mortgage Trust, Series 2017-4, Class A1, 2.75% 6/25/2057 <sup>(b)(c)(d)</sup>  | 155 | 153 |
| Towd Point Mortgage Trust, Series 2017-3, Class A2, 3.00% 7/25/2057 <sup>(b)(c)(d)</sup>  | 305 | 302 |
| Towd Point Mortgage Trust, Series 2018-2, Class A1, 3.25% 3/25/2058 <sup>(b)(c)(d)</sup>  | 467 | 464 |
| Towd Point Mortgage Trust, Series 15-2, Class 1B2, 3.698% 11/25/2060 <sup>(b)(c)(d)</sup>  | 206 | 202 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **240** |

---

------

Capital Group Ultra Short Income ETF (continued)

---

| | | | |
|:---|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) |  | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Collateralized mortgage-backed obligations (privately originated) (continued)** |  |  |  |
| Tricon Residential Trust, Series 2021-SFR1, Class A, 1.943% 7/17/2038 <sup>(b)(c)</sup>  | Tricon Residential Trust, Series 2021-SFR1, Class A, 1.943% 7/17/2038 <sup>(b)(c)</sup>  | USD<br> 398<br>| $393 |
| Tricorn American Homes, Series 2020-SFR1, Class B, 2.049% 7/17/2038 <sup>(b)(c)</sup>  | Tricorn American Homes, Series 2020-SFR1, Class B, 2.049% 7/17/2038 <sup>(b)(c)</sup>  | 200 | 197 |
| Verus Securitization Trust, Series 2023-4, Class A1, 5.811% 5/25/2068 (6.811% on 5/1/2027) <sup>(a)(b)(c)</sup>  | Verus Securitization Trust, Series 2023-4, Class A1, 5.811% 5/25/2068 (6.811% on 5/1/2027) <sup>(a)(b)(c)</sup>  | 91 | 91 |
| Verus Securitization Trust, Series 2025-7, Class A1, 5.129% 8/25/2070 (6.129% on 8/1/2029) <sup>(a)(b)(c)</sup>  | Verus Securitization Trust, Series 2025-7, Class A1, 5.129% 8/25/2070 (6.129% on 8/1/2029) <sup>(a)(b)(c)</sup>  | 97 | 97 |
|  |  |  | 4474 |
| **Commercial mortgage-backed securities 1.41%** |  |  |  |
| AMSR Trust, Series 2021-SFR3, Class B, 1.726% 10/17/2038 <sup>(b)(c)</sup>  | AMSR Trust, Series 2021-SFR3, Class B, 1.726% 10/17/2038 <sup>(b)(c)</sup>  | 100 | 97 |
| Bank Commercial Mortgage Trust, Series 2017-BNK4, Class A4, 3.625% 5/15/2050 <sup>(c)</sup>  | Bank Commercial Mortgage Trust, Series 2017-BNK4, Class A4, 3.625% 5/15/2050 <sup>(c)</sup>  | 400 | 396 |
| BX Trust, Series 2022-AHP, Class A, (1-month USD CME Term SOFR + 0.99%) 4.74% 1/17/2039 <sup>(b)(c)(d)</sup>  | BX Trust, Series 2022-AHP, Class A, (1-month USD CME Term SOFR + 0.99%) 4.74% 1/17/2039 <sup>(b)(c)(d)</sup>  | 130 | 130 |
| CD Commercial Mortgage Trust, Series 2017-CD6, Class A5, 3.456% 11/13/2050 <sup>(c)</sup>  | CD Commercial Mortgage Trust, Series 2017-CD6, Class A5, 3.456% 11/13/2050 <sup>(c)</sup>  | 19 | 19 |
| CSAIL Commercial Mortgage Trust, Series 2017-CX10, Class A4, 3.191% 11/15/2050 <sup>(c)</sup>  | CSAIL Commercial Mortgage Trust, Series 2017-CX10, Class A4, 3.191% 11/15/2050 <sup>(c)</sup>  | 10 | 10 |
| ELM Trust 2024, Series 2024-ELM, Class C15, 6.396% 6/10/2039 <sup>(b)(c)(d)</sup>  | ELM Trust 2024, Series 2024-ELM, Class C15, 6.396% 6/10/2039 <sup>(b)(c)(d)</sup>  | 300 | 302 |
| GS Mortgage Securities Trust, Series 2017-GS6, Class A3, 3.433% 5/10/2050 <sup>(c)</sup>  | GS Mortgage Securities Trust, Series 2017-GS6, Class A3, 3.433% 5/10/2050 <sup>(c)</sup>  | 23 | 23 |
| JPMDB Commercial Mortgage Securities Trust, Series 2017-C7, Class A5, 3.409% 10/15/2050 <sup>(c)</sup>  | JPMDB Commercial Mortgage Securities Trust, Series 2017-C7, Class A5, 3.409% 10/15/2050 <sup>(c)</sup>  | 750 | 738 |
| UBS Commercial Mortgage Trust, Series 2017-C2, Class A4, 3.487% 8/15/2050 <sup>(c)</sup>  | UBS Commercial Mortgage Trust, Series 2017-C2, Class A4, 3.487% 8/15/2050 <sup>(c)</sup>  | 15 | 15 |
| Wells Fargo Commercial Mortgage Trust, Series 2017-C39, Class A5, 3.418% 9/15/2050 <sup>(c)</sup>  | Wells Fargo Commercial Mortgage Trust, Series 2017-C39, Class A5, 3.418% 9/15/2050 <sup>(c)</sup>  | 475 | 467 |
| Wells Fargo Commercial Mortgage Trust, Series 2016-LC25, Class A3, 3.374% 12/15/2059 <sup>(c)</sup>  | Wells Fargo Commercial Mortgage Trust, Series 2016-LC25, Class A3, 3.374% 12/15/2059 <sup>(c)</sup>  | 450 | 447 |
|  |  |  | 2644 |
| **Total mortgage-backed obligations** |  |  | 7118 |
| **Total bonds, notes & other debt instruments** (cost: $145,416,000) |  |  | 145752 |
| Short-term securities 21.80% | Weighted <br>average yield <br>at acquisition<br>|  |  |
| **Commercial paper 18.65%** | **Commercial paper 18.65%** | **Commercial paper 18.65%** | **Commercial paper 18.65%** |
| Australia & New Zealand Banking Group, Ltd. 4/20/2026 <sup>(b)</sup>  | 3.868<br> %<br>| 1000 | 989 |
| Cabot Trail Funding, LLC. 2/3/2026 <sup>(b)</sup>  | 4.010 | 500 | 498 |
| Caisse d'Amortissement de la Dette Sociale 3/23/2026 <sup>(b)</sup>  | 3.739 | 1700 | 1686 |
| Canadian Imperial Bank of Commerce 1/30/2026 <sup>(b)</sup>  | 4.045 | 1000 | 997 |
| DBS Bank, Ltd. 1/20/2026 <sup>(b)</sup>  | 3.976 | 1000 | 998 |
| DBS Bank, Ltd. 1/22/2026 <sup>(b)</sup>  | 4.054 | 600 | 599 |
| DNB Bank ASA 4/15/2026 <sup>(b)</sup>  | 3.914 | 1950 | 1929 |
| Fairway Finance Company, LLC 1/8/2026 <sup>(b)</sup>  | 4.059 | 1100 | 1099 |
| Komatsu Finance America, Inc. 1/7/2026 <sup>(b)</sup>  | 4.085 | 800 | 799 |
| Manhattan Asset Funding Company, LLC 1/26/2026 <sup>(b)</sup>  | 3.835 | 2000 | 1995 |
| Manhattan Asset Funding Company, LLC 2/9/2026 <sup>(b)</sup>  | 4.095 | 700 | 697 |
| National Australia Bank, Ltd. 3/20/2026 <sup>(b)</sup>  | 3.817 | 1500 | 1488 |
| National Bank of Canada 5/13/2026 <sup>(b)</sup>  | 4.005 | 1150 | 1134 |
| Nordea Bank AB 4/7/2026 <sup>(b)</sup>  | 3.910 | 600 | 594 |
| NRW.Bank 2/27/2026 <sup>(b)</sup>  | 3.899 | 2500 | 2485 |
| NRW.Bank 2/27/2026 <sup>(b)</sup>  | 3.904 | 900 | 894 |
| Oversea-Chinese Banking Corp., Ltd. 1/16/2026 <sup>(b)</sup>  | 3.682 | 400 | 399 |
| Oversea-Chinese Banking Corp., Ltd. 2/17/2026 <sup>(b)</sup>  | 3.868 | 1200 | 1194 |
| Oversea-Chinese Banking Corp., Ltd. 2/5/2026 <sup>(b)</sup>  | 4.035 | 1800 | 1793 |
| Siemens Capital Co., LLC 1/6/2026 <sup>(b)</sup>  | 3.989 | 1100 | 1099 |
| Societe Generale 3/31/2026 <sup>(b)</sup>  | 3.910 | 1500 | 1486 |
| Sumitomo Mitsui Trust Bank, Ltd. 2/12/2026 <sup>(b)</sup>  | 3.631 | 1200 | 1195 |
| Svenska Handelsbanken, Inc. 2/17/2026 <sup>(b)</sup>  | 3.891 | 710 | 706 |
| Thunder Bay Funding, LLC 4/1/2026 <sup>(b)</sup>  | 3.952 | 3700 | 3665 |
| United Overseas Bank, Ltd. 2/19/2026 <sup>(b)</sup>  | 3.922 | 1200 | 1194 |
| United Overseas Bank, Ltd. 2/19/2026 <sup>(b)</sup>  | 4.007 | 500 | 497 |
| Victory Receivables Corp. 1/26/2026 <sup>(b)</sup>  | 3.930 | 500 | 499 |
| Victory Receivables Corp. 1/26/2026 <sup>(b)</sup>  | 3.909 | 1200 | 1197 |
| Victory Receivables Corp. 2/20/2026 <sup>(b)</sup>  | 4.024 | 1000 | 995 |
|  |  |  | 34800 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **241** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group Ultra Short Income ETF (continued)

---

| | | | |
|:---|:---|:---|:---|
| Short-term securities (continued) | Weighted<br> average yield<br> at acquisition<br>| Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Bonds & notes of governments & government agencies outside the U.S. 1.61%** | **Bonds & notes of governments & government agencies outside the U.S. 1.61%** | **Bonds & notes of governments & government agencies outside the U.S. 1.61%** | **Bonds & notes of governments & government agencies outside the U.S. 1.61%** |
| Alberta (Province of) 1/5/2026 <sup>(e)</sup>  | 3.864<br> %<br>| USD<br> 3,000<br>| $2999 |
| **Federal agency bills and notes 1.54%** | **Federal agency bills and notes 1.54%** | **Federal agency bills and notes 1.54%** | **Federal agency bills and notes 1.54%** |
| Federal Home Loan Bank 1/2/2026  | 3.559 | 2886 | 2886 |
| **Total short-term securities** (cost: $40,681,000) |  |  | 40685 |
| **Total investment securities 99.90%** (cost: $186,097,000) |  |  | 186437 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Other assets less liabilities 0.10% | 183 |
| **Net assets 100.00%** | $186620 |

---

**Swap contracts**

------

**Interest rate swaps**

**Centrally cleared interest rate swaps** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| 3.423% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 10/14/2027 | USD8,530 | &nbsp;&nbsp;&nbsp;&nbsp; $14 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $14 |
| SOFR | Annual | 3.2515% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 10/21/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 5952 | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 8 |
| SOFR | Annual | 3.214% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 10/24/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 8050 | &nbsp;&nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 16 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $38 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $38 |

---

**Restricted security** <sup>(e)</sup>

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| Alberta (Province of) 1/5/2026  | 12/5/2025 | $2999 | $2999 | 1.62<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Step bond; coupon rate may change at a later date.

<sup>(b)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) 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 $79,895,000, which represented 42.81% of the net assets of the fund. 

<sup>(c)</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>(d)</sup> 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. 

<sup>(e)</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| CLO = Collateralized Loan Obligations |
| CME = CME Group |
| DAC = Designated Activity Company |
| SOFR = Secured Overnight Financing Rate |
| USD = U.S. dollars |
| UST = U.S. Treasury |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **242** |

---

------

Capital Group U.S. Multi-Sector Income ETF

**Investment portfolio** December 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments 96.09% | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes 70.14%** | **Corporate bonds and notes 70.14%** | **Corporate bonds and notes 70.14%** |
| **Financials 13.88%** |  |  |
| Alliant Holdings Intermediate, LLC 6.75% 10/15/2027 <sup>(a)</sup>  | USD<br> 885<br>| $894 |
| Alliant Holdings Intermediate, LLC 5.875% 11/1/2029 <sup>(a)</sup>  | 5218 | 5241 |
| Alliant Holdings Intermediate, LLC 7.00% 1/15/2031 <sup>(a)</sup>  | 6200 | 6437 |
| Alliant Holdings Intermediate, LLC 6.50% 10/1/2031 <sup>(a)</sup>  | 425 | 439 |
| Alliant Holdings Intermediate, LLC 7.375% 10/1/2032 <sup>(a)</sup>  | 4484 | 4655 |
| Alpha Bank SA 6.875% 6/27/2029 (1-year EUR-ICE Swap EURIBOR + 3.793% on 6/27/2028) <sup>(b)</sup>  | EUR<br> 200<br>| 257 |
| Alpha Bank SA 5.00% 5/12/2030 (1-year EUR-ICE Swap EURIBOR + 2.432% on 5/12/2029) <sup>(b)</sup>  | 100 | 124 |
| Alpha Bank SA 4.25% 6/11/2031 (5-year EUR Mid-Swap + 5.823% on 6/11/2026) <sup>(b)</sup>  | 100 | 118 |
| American International Group, Inc. 5.125% 3/27/2033  | USD<br> 2,556<br>| 2632 |
| American International Group, Inc. 5.45% 5/7/2035  | 4069 | 4240 |
| AmWINS Group, Inc. 6.375% 2/15/2029 <sup>(a)</sup>  | 950 | 978 |
| AmWINS Group, Inc. 4.875% 6/30/2029 <sup>(a)</sup>  | 4757 | 4682 |
| Aon North America, Inc. 5.45% 3/1/2034  | 5501 | 5719 |
| Ardonagh Finco, Ltd. 7.75% 2/15/2031 <sup>(a)</sup>  | 1115 | 1170 |
| Ardonagh Group Finance, Ltd. 8.875% 2/15/2032 <sup>(a)</sup>  | 6676 | 6966 |
| Aretec Group, Inc. 7.50% 4/1/2029 <sup>(a)</sup>  | 7433 | 7501 |
| Aretec Group, Inc. 10.00% 8/15/2030 <sup>(a)</sup>  | 400 | 432 |
| Arthur J. Gallagher & Co. 5.15% 2/15/2035  | 6080 | 6148 |
| Athene Holding, Ltd. 6.625% 5/19/2055  | 3506 | 3573 |
| Banco de Sabadell SA 5.50% 9/8/2029 (1-year EUR-ICE Swap EURIBOR + 2.40% on 9/8/2028) <sup>(b)</sup>  | EUR<br> 1,100<br>| 1378 |
| Banco de Sabadell SA 3.375% 2/18/2033 (1-year EUR-ICE Swap EURIBOR + 1.25% on 2/18/2032) <sup>(b)</sup>  | 1100 | 1281 |
| Bank of America Corp. 5.872% 9/15/2034 (USD-SOFR + 1.84% on 9/15/2033) <sup>(b)</sup>  | USD<br> 2,934<br>| 3132 |
| Bank of America Corp. 5.464% 5/9/2036 (USD-SOFR + 1.64% on 5/9/2035) <sup>(b)</sup>  | 3832 | 3991 |
| Bank of Montreal 4.10% 12/15/2027 (USD-SOFR + 0.525% on 12/15/2026) <sup>(b)</sup>  | 2000 | 2005 |
| Bank of New York Mellon Corp. 5.06% 7/22/2032 (USD-SOFR + 1.23% on 7/22/2031) <sup>(b)</sup>  | 1231 | 1276 |
| BBVA Bancomer SA 5.875% 9/13/2034 (5-year UST Yield Curve Rate T Note Constant Maturity + 4.308% on <br> 9/13/2029) <sup>(b)</sup>  | 1000 | 999 |
| BlackRock Funding, Inc. 5.25% 3/14/2054  | 1767 | 1695 |
| Blackstone Private Credit Fund 5.95% 7/16/2029  | 4856 | 4957 |
| Block, Inc. 5.625% 8/15/2030 <sup>(a)</sup>  | 4535 | 4630 |
| Block, Inc. 3.50% 6/1/2031  | 2698 | 2538 |
| Block, Inc. 6.50% 5/15/2032  | 7640 | 7949 |
| Block, Inc. 6.00% 8/15/2033 <sup>(a)</sup>  | 5627 | 5780 |
| BPCE SA 6.293% 1/14/2036 (USD-SOFR + 2.04% on 1/14/2035) <sup>(a)(b)</sup>  | 6410 | 6845 |
| Bread Financial Holdings, Inc. 6.75% 5/15/2031 <sup>(a)</sup>  | 1650 | 1710 |
| Brown & Brown, Inc. 4.90% 6/23/2030  | 525 | 533 |
| Brown & Brown, Inc. 5.25% 6/23/2032  | 3693 | 3785 |
| Brown & Brown, Inc. 5.55% 6/23/2035  | 5707 | 5855 |
| Brown & Brown, Inc. 6.25% 6/23/2055  | 2596 | 2703 |
| CaixaBank SA 6.208% 1/18/2029 (USD-SOFR + 2.70% on 1/18/2028) <sup>(a)(b)</sup>  | 500 | 520 |
| CaixaBank SA 5.00% 7/19/2029 (3-month EUR-EURIBOR + 1.65% on 7/19/2028) <sup>(b)</sup>  | EUR<br> 1,500<br>| 1855 |
| CaixaBank SA 4.375% 8/8/2036 (5-year EUR-ICE Swap EURIBOR + 1.95% on 8/8/2031) <sup>(b)</sup>  | 1500 | 1815 |
| Capital One Financial Corp. 5.70% 2/1/2030 (USD-SOFR + 1.905% on 2/1/2029) <sup>(b)</sup>  | USD<br> 2,501<br>| 2603 |
| Capital One Financial Corp. 6.377% 6/8/2034 (USD-SOFR + 2.86% on 6/8/2033) <sup>(b)</sup>  | 1753 | 1896 |
| Capital One Financial Corp. 6.051% 2/1/2035 (USD-SOFR + 2.26% on 2/1/2034) <sup>(b)</sup>  | 4674 | 4978 |
| Carlyle Group, Inc. (The) 5.05% 9/19/2035  | 250 | 247 |
| Charles Schwab Corp. (The) 5.853% 5/19/2034 (USD-SOFR + 2.50% on 5/19/2033) <sup>(b)</sup>  | 1292 | 1385 |
| Chubb INA Holdings, LLC 5.00% 3/15/2034  | 8683 | 8886 |
| Chubb INA Holdings, LLC 4.90% 8/15/2035  | 3991 | 4010 |
| Citigroup, Inc. 4.503% 9/11/2031 (USD-SOFR + 1.171% on 9/11/2030) <sup>(b)</sup>  | 25 | 25 |
| Citigroup, Inc. 5.333% 3/27/2036 (USD-SOFR + 1.465% on 3/27/2035) <sup>(b)</sup>  | 9593 | 9818 |
| Citigroup, Inc. 5.174% 9/11/2036 (USD-SOFR + 1.488% on 9/11/2035) <sup>(b)</sup>  | 325 | 328 |
| Coinbase Global, Inc. 3.375% 10/1/2028 <sup>(a)</sup>  | 5652 | 5389 |
| Coinbase Global, Inc. 3.625% 10/1/2031 <sup>(a)</sup>  | 10077 | 8993 |
| Compass Group Diversified Holdings, LLC 5.25% 4/15/2029 <sup>(a)</sup>  | 8321 | 7725 |
| Compass Group Diversified Holdings, LLC 5.00% 1/15/2032 <sup>(a)</sup>  | 3637 | 3278 |
| Deutsche Bank AG 6.819% 11/20/2029 (USD-SOFR + 2.51% on 11/20/2028) <sup>(b)</sup>  | 1200 | 1281 |
| Deutsche Bank AG 4.125% 4/4/2030 (3-month EUR-EURIBOR + 1.50% on 4/4/2029) <sup>(b)</sup>  | EUR<br> 1,500<br>| 1815 |
| Deutsche Bank AG 4.50% 7/12/2035 (3-month EUR-EURIBOR + 1.70% on 7/12/2034) <sup>(b)</sup>  | 1500 | 1845 |
| Eurobank SA 4.00% 9/24/2030 (1-year EUR Mid-Swap + 2.127% on 9/24/2029) <sup>(b)</sup>  | 100 | 121 |
| Eurobank SA 4.875% 4/30/2031 (5-year EUR Mid-Swap + 2.165% on 4/30/2030) <sup>(b)</sup>  | 900 | 1125 |
| Freedom Mortgage Holdings, LLC 9.25% 2/1/2029 <sup>(a)</sup>  | USD<br> 4,350<br>| 4565 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **243** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Financials (continued)** |  |  |
| Freedom Mortgage Holdings, LLC 8.375% 4/1/2032 <sup>(a)</sup>  | USD<br> 3,845<br>| $4050 |
| Goldman Sachs Group, Inc. 5.727% 4/25/2030 (USD-SOFR + 1.265% on 4/25/2029) <sup>(b)</sup>  | 1216 | 1271 |
| Goldman Sachs Group, Inc. 5.218% 4/23/2031 (USD-SOFR + 1.58% on 4/23/2030) <sup>(b)</sup>  | 2530 | 2614 |
| Goldman Sachs Group, Inc. 4.369% 10/21/2031 (USD-SOFR + 1.06% on 10/21/2030) <sup>(b)</sup>  | 3075 | 3068 |
| Goldman Sachs Group, Inc. 5.851% 4/25/2035 (USD-SOFR + 1.552% on 4/25/2034) <sup>(b)</sup>  | 5455 | 5802 |
| Goldman Sachs Group, Inc. 4.939% 10/21/2036 (USD-SOFR + 1.33% on 10/21/2035) <sup>(b)</sup>  | 17372 | 17252 |
| Goldman Sachs Private Credit Corp. 5.875% 1/31/2031 <sup>(a)</sup>  | 6806 | 6817 |
| Hightower Holding, LLC 6.75% 4/15/2029 <sup>(a)</sup>  | 3925 | 3914 |
| Hightower Holding, LLC 9.125% 1/31/2030 <sup>(a)</sup>  | 200 | 213 |
| Howden UK Refinance PLC 7.25% 2/15/2031 <sup>(a)</sup>  | 720 | 742 |
| HSBC Holdings PLC 5.45% 3/3/2036 (USD-SOFR + 1.56% on 3/3/2035) <sup>(b)</sup>  | 5948 | 6139 |
| HSBC Holdings PLC 5.133% 11/6/2036 (USD-SOFR + 1.43% on 11/6/2035) <sup>(b)</sup>  | 4570 | 4584 |
| HSBC Holdings PLC 6.332% 3/9/2044 (USD-SOFR + 2.65% on 3/9/2043) <sup>(b)</sup>  | 814 | 892 |
| HUB International, Ltd. 5.625% 12/1/2029 <sup>(a)</sup>  | 1080 | 1081 |
| HUB International, Ltd. 7.25% 6/15/2030 <sup>(a)</sup>  | 1947 | 2045 |
| HUB International, Ltd. 7.375% 1/31/2032 <sup>(a)</sup>  | 5645 | 5928 |
| IIFL Finance, Ltd. 8.75% 7/24/2028 <sup>(a)</sup>  | 3935 | 4042 |
| Intesa Sanpaolo SpA 8.248% 11/21/2033 (1-year UST Yield Curve Rate T Note Constant Maturity + 4.40% on <br> 11/21/2032) <sup>(a)(b)</sup>  | 3459 | 4086 |
| Intesa Sanpaolo SpA 7.778% 6/20/2054 (1-year UST Yield Curve Rate T Note Constant Maturity + 3.90% on <br> 6/20/2053) <sup>(a)(b)</sup>  | 1000 | 1189 |
| ION Platform Finance US, Inc. 8.75% 5/1/2029 <sup>(a)</sup>  | 10208 | 10352 |
| ION Platform Finance US, Inc. 9.50% 5/30/2029 <sup>(a)</sup>  | 7838 | 7945 |
| ION Platform Finance US, Inc. 9.00% 8/1/2029 <sup>(a)</sup>  | 7612 | 7528 |
| ION Platform Finance US, Inc. 7.875% 9/30/2032 <sup>(a)</sup>  | 5830 | 5539 |
| Iron Mountain Information Management Services, Inc. 5.00% 7/15/2032 <sup>(a)</sup>  | 12122 | 11580 |
| Jane Street Group, LLC 6.75% 5/1/2033 <sup>(a)</sup>  | 4410 | 4606 |
| JPMorgan Chase & Co. 5.581% 4/22/2030 (USD-SOFR + 1.16% on 4/22/2029) <sup>(b)</sup>  | 278 | 290 |
| JPMorgan Chase & Co. 4.995% 7/22/2030 (USD-SOFR + 1.125% on 7/22/2029) <sup>(b)</sup>  | 2230 | 2290 |
| JPMorgan Chase & Co. 4.603% 10/22/2030 (USD-SOFR + 1.04% on 10/22/2029) <sup>(b)</sup>  | 925 | 938 |
| JPMorgan Chase & Co. 4.255% 10/22/2031 (USD-SOFR + 0.93% on 10/22/2030) <sup>(b)</sup>  | 4566 | 4553 |
| JPMorgan Chase & Co. 1.953% 2/4/2032 (USD-SOFR + 1.065% on 2/4/2031) <sup>(b)</sup>  | 505 | 450 |
| JPMorgan Chase & Co. 5.502% 1/24/2036 (USD-SOFR + 1.315% on 1/24/2035) <sup>(b)</sup>  | 4000 | 4183 |
| JPMorgan Chase & Co. 5.572% 4/22/2036 (USD-SOFR + 1.68% on 4/22/2035) <sup>(b)</sup>  | 7259 | 7619 |
| Kasikornbank PCL (Hong Kong Branch) 3.343% 10/2/2031 (5-year UST Yield Curve Rate T Note Constant <br> Maturity + 1.70% on 10/2/2026) <sup>(b)</sup>  | 2360 | 2331 |
| LPL Holdings, Inc. 4.00% 3/15/2029 <sup>(a)</sup>  | 385 | 379 |
| Marsh & McLennan Cos., Inc. 4.65% 3/15/2030  | 180 | 184 |
| Marsh & McLennan Cos., Inc. 4.85% 11/15/2031  | 290 | 298 |
| Marsh & McLennan Cos., Inc. 5.00% 3/15/2035  | 12060 | 12221 |
| Marsh & McLennan Cos., Inc. 5.40% 3/15/2055  | 4764 | 4590 |
| Mastercard, Inc. 4.95% 3/15/2032  | 500 | 518 |
| Mastercard, Inc. 4.875% 5/9/2034  | 556 | 570 |
| Mastercard, Inc. 4.55% 1/15/2035  | 3921 | 3923 |
| Morgan Stanley 4.356% 10/22/2031 (USD-SOFR + 1.074% on 10/22/2030) <sup>(b)</sup>  | 1725 | 1720 |
| Morgan Stanley 5.25% 4/21/2034 (USD-SOFR + 1.87% on 4/21/2033) <sup>(b)</sup>  | 402 | 414 |
| Morgan Stanley 5.831% 4/19/2035 (USD-SOFR + 1.58% on 4/19/2034) <sup>(b)</sup>  | 3268 | 3474 |
| Morgan Stanley 5.664% 4/17/2036 (USD-SOFR + 1.757% on 4/17/2035) <sup>(b)</sup>  | 3864 | 4058 |
| Morgan Stanley 4.892% 10/22/2036 (USD-SOFR + 1.314% on 10/22/2035) <sup>(b)</sup>  | 8578 | 8505 |
| Morgan Stanley 5.942% 2/7/2039 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.80% on <br> 2/7/2039) <sup>(b)</sup>  | 200 | 210 |
| Morgan Stanley 5.516% 11/19/2055 (USD-SOFR + 1.71% on 11/19/2054) <sup>(b)</sup>  | 731 | 723 |
| Navient Corp. 4.875% 3/15/2028  | 1000 | 990 |
| Navient Corp. 9.375% 7/25/2030  | 963 | 1071 |
| Navient Corp. 11.50% 3/15/2031  | 846 | 948 |
| Navient Corp. 7.875% 6/15/2032  | 7840 | 8212 |
| Navient Corp. 5.625% 8/1/2033  | 15482 | 14169 |
| OneMain Finance Corp. 6.125% 5/15/2030  | 1000 | 1022 |
| OneMain Finance Corp. 7.50% 5/15/2031  | 7775 | 8186 |
| OneMain Finance Corp. 7.125% 11/15/2031  | 6531 | 6822 |
| OneMain Finance Corp. 7.125% 9/15/2032  | 8535 | 8878 |
| OneMain Finance Corp. 6.50% 3/15/2033  | 765 | 774 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **244** |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Financials (continued)** |  |  |
| OneMain Finance Corp. 6.75% 9/15/2033  | USD<br> 480<br>| $487 |
| Osaic Holdings, Inc. 6.75% 8/1/2032 <sup>(a)</sup>  | 2270 | 2373 |
| Osaic Holdings, Inc. 8.00% 8/1/2033 <sup>(a)</sup>  | 5691 | 5950 |
| Oxford Finance, LLC 6.375% 2/1/2027 <sup>(a)</sup>  | 235 | 236 |
| PennyMac Financial Services, Inc. 7.875% 12/15/2029 <sup>(a)</sup>  | 385 | 410 |
| PennyMac Financial Services, Inc. 6.875% 5/15/2032 <sup>(a)</sup>  | 1295 | 1356 |
| Piraeus Bank SA 6.75% 12/5/2029 (1-year EUR Mid-Swap + 3.837% on 12/5/2028) <sup>(b)</sup>  | EUR<br> 150<br>| 194 |
| Piraeus Bank SA 5.00% 4/16/2030 (1-year EUR-ICE Swap EURIBOR + 2.245% on 4/16/2029) <sup>(b)</sup>  | 850 | 1056 |
| PNC Bank, NA 5.373% 7/21/2036 (USD-SOFR + 1.417% on 7/21/2035) <sup>(b)</sup>  | USD<br> 924<br>| 951 |
| PNC Financial Services Group, Inc. 6.875% 10/20/2034 (USD-SOFR + 2.284% on 10/20/2033) <sup>(b)</sup>  | 4129 | 4675 |
| PNC Financial Services Group, Inc. 5.676% 1/22/2035 (USD-SOFR + 1.902% on 1/22/2034) <sup>(b)</sup>  | 6897 | 7274 |
| PNC Financial Services Group, Inc. 5.401% 7/23/2035 (USD-SOFR + 1.599% on 7/23/2034) <sup>(b)</sup>  | 6095 | 6307 |
| PNC Financial Services Group, Inc. 5.575% 1/29/2036 (USD-SOFR + 1.394% on 1/29/2035) <sup>(b)</sup>  | 4209 | 4391 |
| Power Finance Corp., Ltd. 3.35% 5/16/2031  | 450 | 424 |
| Royal Bank of Canada 4.65% 10/18/2030 (USD-SOFR + 1.08% on 10/18/2029) <sup>(b)</sup>  | 2522 | 2559 |
| Ryan Specialty, LLC 4.375% 2/1/2030 <sup>(a)</sup>  | 445 | 437 |
| Ryan Specialty, LLC 5.875% 8/1/2032 <sup>(a)</sup>  | 1085 | 1109 |
| Starwood Property Trust, Inc. 5.75% 1/15/2031 <sup>(a)</sup>  | 3345 | 3385 |
| State Street Corp. 5.159% 5/18/2034 (USD-SOFR + 1.89% on 5/18/2033) <sup>(b)</sup>  | 601 | 621 |
| State Street Corp. 4.784% 10/23/2036 (USD-SOFR + 1.215% on 10/23/2035) <sup>(b)</sup>  | 1410 | 1403 |
| Synchrony Financial 5.45% 3/6/2031 (USD-SOFR + 1.68% on 3/6/2030) <sup>(b)</sup>  | 1833 | 1880 |
| Synchrony Financial 7.25% 2/2/2033  | 5693 | 6120 |
| Synchrony Financial 6.00% 7/29/2036 (USD-SOFR Index + 2.07% on 7/29/2035) <sup>(b)</sup>  | 6991 | 7195 |
| Travelers Cos., Inc. 5.05% 7/24/2035  | 128 | 130 |
| Truist Financial Corp. 5.071% 5/20/2031 (USD-SOFR + 1.309% on 5/20/2030) <sup>(b)</sup>  | 763 | 784 |
| Truist Financial Corp. 5.153% 8/5/2032 (USD-SOFR + 1.571% on 8/5/2031) <sup>(b)</sup>  | 3137 | 3243 |
| Truist Financial Corp. 5.867% 6/8/2034 (USD-SOFR + 2.361% on 6/8/2033) <sup>(b)</sup>  | 4554 | 4847 |
| Truist Financial Corp. 5.711% 1/24/2035 (USD-SOFR + 1.922% on 1/24/2034) <sup>(b)</sup>  | 6015 | 6330 |
| Truist Financial Corp. 4.964% 10/23/2036 (USD-SOFR + 1.395% on 10/23/2035) <sup>(b)</sup>  | 2532 | 2506 |
| U.S. Bancorp 5.85% 10/21/2033 (USD-SOFR + 2.09% on 10/21/2032) <sup>(b)</sup>  | 200 | 214 |
| U.S. Bancorp 5.836% 6/12/2034 (USD-SOFR + 2.26% on 6/10/2033) <sup>(b)</sup>  | 25 | 27 |
| U.S. Bancorp 5.678% 1/23/2035 (USD-SOFR + 1.86% on 1/23/2034) <sup>(b)</sup>  | 5530 | 5842 |
| U.S. Bancorp 5.424% 2/12/2036 (USD-SOFR + 1.411% on 2/12/2035) <sup>(b)</sup>  | 7450 | 7746 |
| UBS Group AG 3.091% 5/14/2032 (USD-SOFR + 1.73% on 5/14/2031) <sup>(a)(b)</sup>  | 1404 | 1304 |
| UBS Group AG 6.301% 9/22/2034 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.00% on <br> 9/22/2033) <sup>(a)(b)</sup>  | 2725 | 2976 |
| USI, Inc. 7.50% 1/15/2032 <sup>(a)</sup>  | 270 | 283 |
| Voyager Parent, LLC 9.25% 7/1/2032 <sup>(a)</sup>  | 4450 | 4725 |
| Wells Fargo & Co. 5.707% 4/22/2028 (USD-SOFR + 1.07% on 4/22/2027) <sup>(b)</sup>  | 250 | 255 |
| Wells Fargo & Co. 2.39% 6/2/2028 (USD-SOFR + 2.10% on 6/2/2027) <sup>(b)</sup>  | 25 | 24 |
| Wells Fargo & Co. 5.15% 4/23/2031 (USD-SOFR + 1.50% on 4/23/2030) <sup>(b)</sup>  | 1100 | 1136 |
| Wells Fargo & Co. 5.605% 4/23/2036 (USD-SOFR + 1.74% on 4/23/2035) <sup>(b)</sup>  | 3709 | 3889 |
|  |  | 545597 |
| **Energy 8.53%** |  |  |
| 3R Lux SARL 9.75% 2/5/2031 <sup>(a)</sup>  | 1798 | 1852 |
| Antero Midstream Partners, LP 5.75% 7/1/2034 <sup>(a)</sup>  | 1370 | 1381 |
| APA Corp. 5.25% 2/1/2042  | 1188 | 1013 |
| Ascent Resources Utica Holdings, LLC 5.875% 6/30/2029 <sup>(a)</sup>  | 4840 | 4871 |
| Ascent Resources Utica Holdings, LLC 6.625% 10/15/2032 <sup>(a)</sup>  | 460 | 477 |
| Ascent Resources Utica Holdings, LLC 6.625% 7/15/2033 <sup>(a)</sup>  | 1565 | 1621 |
| Blue Racer Midstream, LLC 7.00% 7/15/2029 <sup>(a)</sup>  | 605 | 634 |
| Borr IHC, Ltd. 10.00% 11/15/2028 <sup>(a)</sup>  | 3792 | 3816 |
| Borr IHC, Ltd. 10.375% 11/15/2030 <sup>(a)</sup>  | 664 | 662 |
| Caturus Energy, LLC 8.50% 2/15/2030 <sup>(a)</sup>  | 685 | 714 |
| CITGO Petroleum Corp. 8.375% 1/15/2029 <sup>(a)</sup>  | 555 | 579 |
| Civitas Resources, Inc. 8.375% 7/1/2028 <sup>(a)</sup>  | 2126 | 2193 |
| Civitas Resources, Inc. 8.625% 11/1/2030 <sup>(a)</sup>  | 5518 | 5787 |
| Civitas Resources, Inc. 8.75% 7/1/2031 <sup>(a)</sup>  | 5798 | 6022 |
| Civitas Resources, Inc. 9.625% 6/15/2033 <sup>(a)</sup>  | 190 | 205 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **245** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Energy (continued)** |  |  |
| CNX Resources Corp. 7.375% 1/15/2031 <sup>(a)</sup>  | USD<br> 4,234<br>| $4400 |
| CNX Resources Corp. 7.25% 3/1/2032 <sup>(a)</sup>  | 5120 | 5348 |
| Comstock Resources, Inc. 6.75% 3/1/2029 <sup>(a)</sup>  | 2104 | 2110 |
| Comstock Resources, Inc. 5.875% 1/15/2030 <sup>(a)</sup>  | 4630 | 4507 |
| Constellation Oil Services Holding SA 9.375% 11/7/2029 <sup>(a)</sup>  | 6050 | 6298 |
| Crescent Energy Finance, LLC 9.25% 2/15/2028 <sup>(a)</sup>  | 1518 | 1571 |
| Crescent Energy Finance, LLC 7.625% 4/1/2032 <sup>(a)</sup>  | 5280 | 5123 |
| Crescent Energy Finance, LLC 7.375% 1/15/2033 <sup>(a)</sup>  | 4469 | 4244 |
| Crescent Energy Finance, LLC 8.375% 1/15/2034 <sup>(a)</sup>  | 470 | 467 |
| Devon Energy Corp. 5.75% 9/15/2054  | 1864 | 1714 |
| Diamondback Energy, Inc. 5.15% 1/30/2030  | 313 | 322 |
| Diamondback Energy, Inc. 5.40% 4/18/2034  | 1431 | 1466 |
| Diamondback Energy, Inc. 5.75% 4/18/2054  | 4942 | 4675 |
| Diamondback Energy, Inc. 5.90% 4/18/2064  | 1211 | 1144 |
| DT Midstream, Inc. 4.375% 6/15/2031 <sup>(a)</sup>  | 750 | 734 |
| Ecopetrol SA 7.75% 2/1/2032  | 4050 | 4173 |
| Ecopetrol SA 8.875% 1/13/2033  | 2835 | 3030 |
| Ecopetrol SA 8.375% 1/19/2036  | 4365 | 4495 |
| Energean Israel Finance, Ltd. 5.875% 3/30/2031 <sup>(a)</sup>  | 685 | 664 |
| Enterprise Products Operating, LLC 5.20% 1/15/2036  | 266 | 271 |
| EOG Resources, Inc. 4.40% 7/15/2028  | 205 | 207 |
| EOG Resources, Inc. 5.95% 7/15/2055  | 500 | 510 |
| EQT Corp. 4.75% 1/15/2031  | 3356 | 3379 |
| Expand Energy Corp. 4.75% 2/1/2032  | 285 | 281 |
| Exxon Mobil Corp. 3.452% 4/15/2051  | 4115 | 2956 |
| Genesis Energy, LP 8.25% 1/15/2029  | 1895 | 1984 |
| Genesis Energy, LP 8.875% 4/15/2030  | 3270 | 3456 |
| Genesis Energy, LP 7.875% 5/15/2032  | 1790 | 1867 |
| GeoPark, Ltd. 8.75% 1/31/2030 <sup>(a)</sup>  | 4550 | 4254 |
| Global Partners, LP 8.25% 1/15/2032 <sup>(a)</sup>  | 3105 | 3283 |
| Gulfport Energy Operating Corp. 6.75% 9/1/2029 <sup>(a)</sup>  | 520 | 538 |
| Harvest Midstream I, LP 7.50% 9/1/2028 <sup>(a)</sup>  | 875 | 889 |
| Harvest Midstream I, LP 7.50% 5/15/2032 <sup>(a)</sup>  | 2214 | 2310 |
| Hess Midstream Operations, LP 5.875% 3/1/2028 <sup>(a)</sup>  | 1640 | 1677 |
| Hilcorp Energy I, LP 6.00% 4/15/2030 <sup>(a)</sup>  | 900 | 878 |
| Hilcorp Energy I, LP 6.25% 4/15/2032 <sup>(a)</sup>  | 5751 | 5434 |
| Hilcorp Energy I, LP 8.375% 11/1/2033 <sup>(a)</sup>  | 4813 | 4935 |
| Kodiak Gas Services, LLC 6.50% 10/1/2033 <sup>(a)</sup>  | 865 | 884 |
| Kodiak Gas Services, LLC 6.75% 10/1/2035 <sup>(a)</sup>  | 865 | 890 |
| Kraken Oil & Gas Partners, LLC 7.625% 8/15/2029 <sup>(a)</sup>  | 2780 | 2756 |
| Leviathan Bond, Ltd. 6.75% 6/30/2030 <sup>(a)</sup>  | 980 | 999 |
| Matador Resources Co. 6.25% 4/15/2033 <sup>(a)</sup>  | 4990 | 5016 |
| MPLX, LP 5.40% 9/15/2035  | 2129 | 2146 |
| Murphy Oil Corp. 6.00% 10/1/2032  | 4015 | 4014 |
| Nabors Industries, Inc. 9.125% 1/31/2030 <sup>(a)</sup>  | 4085 | 4286 |
| NFE Financing, LLC 12.00% 11/15/2029 <sup>(a)(c)</sup>  | 32948 | 9555 |
| NGL Energy Operating, LLC 8.125% 2/15/2029 <sup>(a)</sup>  | 1530 | 1589 |
| NGL Energy Operating, LLC 8.375% 2/15/2032 <sup>(a)</sup>  | 2370 | 2456 |
| Noble Finance II, LLC 8.00% 4/15/2030 <sup>(a)</sup>  | 5835 | 6066 |
| Northern Oil and Gas, Inc. 8.75% 6/15/2031 <sup>(a)</sup>  | 6741 | 6814 |
| Northern Oil and Gas, Inc. 7.875% 10/15/2033 <sup>(a)</sup>  | 390 | 380 |
| Permian Resources Operating, LLC 8.00% 4/15/2027 <sup>(a)</sup>  | 162 | 165 |
| Permian Resources Operating, LLC 5.875% 7/1/2029 <sup>(a)</sup>  | 830 | 838 |
| Permian Resources Operating, LLC 9.875% 7/15/2031 <sup>(a)</sup>  | 1135 | 1224 |
| Permian Resources Operating, LLC 7.00% 1/15/2032 <sup>(a)</sup>  | 5550 | 5805 |
| Permian Resources Operating, LLC 6.25% 2/1/2033 <sup>(a)</sup>  | 1260 | 1293 |
| Petroleos Mexicanos 5.95% 1/28/2031  | 5313 | 5145 |
| Petroleos Mexicanos 6.70% 2/16/2032  | 7982 | 7966 |
| Petroleos Mexicanos 10.00% 2/7/2033  | 3625 | 4203 |
| Petroleos Mexicanos 6.375% 1/23/2045  | 74 | 60 |
| Petroleos Mexicanos 6.75% 9/21/2047  | 131 | 108 |
| Petroleos Mexicanos 6.35% 2/12/2048  | 33 | 26 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **246** |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Energy (continued)** |  |  |
| Petroleos Mexicanos 7.69% 1/23/2050  | USD<br> 314<br>| $282 |
| Petroleos Mexicanos 6.95% 1/28/2060  | 5363 | 4370 |
| Pluspetrol SA 8.50% 5/30/2032 <sup>(a)</sup>  | 3013 | 3066 |
| Raizen Fuels Finance SA 6.70% 2/25/2037 <sup>(a)</sup>  | 2115 | 1712 |
| Range Resources Corp. 4.75% 2/15/2030 <sup>(a)</sup>  | 320 | 316 |
| Repsol E&P Capital Markets US, LLC 5.976% 9/16/2035 <sup>(a)</sup>  | 4636 | 4730 |
| Shell Finance US, Inc. 3.00% 11/26/2051 <sup>(a)</sup>  | 1650 | 1063 |
| Summit Midstream Holdings, LLC 8.625% 10/31/2029 <sup>(a)</sup>  | 4723 | 4900 |
| Sunoco, LP 7.00% 5/1/2029 <sup>(a)</sup>  | 2745 | 2865 |
| Sunoco, LP 4.50% 5/15/2029  | 2051 | 2015 |
| Sunoco, LP 5.625% 3/15/2031 <sup>(a)</sup>  | 1095 | 1104 |
| Sunoco, LP 7.25% 5/1/2032 <sup>(a)</sup>  | 5615 | 5941 |
| Sunoco, LP 6.25% 7/1/2033 <sup>(a)</sup>  | 2230 | 2285 |
| Sunoco, LP 5.875% 3/15/2034 <sup>(a)</sup>  | 1085 | 1085 |
| Sunoco, LP 7.875% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T Note Constant <br> Maturity + 4.23% on 9/18/2030) <sup>(a)(b)</sup>  | 3389 | 3484 |
| Superior Plus, LP 4.50% 3/15/2029 <sup>(a)</sup>  | 50 | 49 |
| Talos Production, Inc. 9.00% 2/1/2029 <sup>(a)</sup>  | 1275 | 1328 |
| Talos Production, Inc. 9.375% 2/1/2031 <sup>(a)</sup>  | 3470 | 3626 |
| Targa Resources Corp. 5.65% 2/15/2036  | 2505 | 2576 |
| TotalEnergies Capital International SA 3.127% 5/29/2050  | 6250 | 4171 |
| TotalEnergies Capital SA 5.488% 4/5/2054  | 200 | 193 |
| Transocean Aquila, Ltd. 8.00% 9/30/2028 <sup>(a)</sup>  | 3769 | 3878 |
| Transocean International, Ltd. 8.75% 2/15/2030 <sup>(a)</sup>  | 6737 | 7042 |
| Transocean International, Ltd. 7.875% 10/15/2032 <sup>(a)</sup>  | 680 | 713 |
| Transocean Titan Financing, Ltd. 8.375% 2/1/2028 <sup>(a)</sup>  | 686 | 701 |
| Transocean, Inc. 8.25% 5/15/2029 <sup>(a)</sup>  | 850 | 857 |
| Transocean, Inc. 8.50% 5/15/2031 <sup>(a)</sup>  | 3850 | 3816 |
| Transportadora de Gas del Sur SA 8.50% 7/24/2031 <sup>(a)</sup>  | 810 | 843 |
| USA Compression Partners, LP 7.125% 3/15/2029 <sup>(a)</sup>  | 2102 | 2177 |
| USA Compression Partners, LP 6.25% 10/1/2033 <sup>(a)</sup>  | 730 | 739 |
| Venture Global Calcasieu Pass, LLC 6.25% 1/15/2030 <sup>(a)</sup>  | 5844 | 5921 |
| Venture Global Calcasieu Pass, LLC 4.125% 8/15/2031 <sup>(a)</sup>  | 3767 | 3430 |
| Venture Global LNG, Inc. 7.00% 1/15/2030 <sup>(a)</sup>  | 6285 | 6053 |
| Venture Global LNG, Inc. 8.375% 6/1/2031 <sup>(a)</sup>  | 5885 | 5856 |
| Venture Global LNG, Inc. 9.875% 2/1/2032 <sup>(a)</sup>  | 2740 | 2832 |
| Venture Global Plaquemines LNG, LLC 6.125% 12/15/2030 <sup>(a)</sup>  | 1655 | 1686 |
| Venture Global Plaquemines LNG, LLC 7.50% 5/1/2033 <sup>(a)</sup>  | 200 | 216 |
| Venture Global Plaquemines LNG, LLC 6.50% 1/15/2034 <sup>(a)</sup>  | 4510 | 4622 |
| Venture Global Plaquemines LNG, LLC 6.50% 6/15/2034 <sup>(a)</sup>  | 2920 | 2985 |
| Venture Global Plaquemines LNG, LLC 7.75% 5/1/2035 <sup>(a)</sup>  | 3775 | 4135 |
| Venture Global Plaquemines LNG, LLC 6.875% 1/31/2036 <sup>(a)</sup>  | 5720 | 5862 |
| Vista Energy Argentina S.A.U. 8.50% 6/10/2033 <sup>(a)</sup>  | 4655 | 4789 |
| Vista Energy Argentina S.A.U. 7.625% 12/10/2035 <sup>(a)</sup>  | 5160 | 5163 |
| Vital Energy, Inc. 7.875% 4/15/2032 <sup>(a)</sup>  | 3160 | 3116 |
| Wildfire Intermediate Holdings, LLC 7.50% 10/15/2029 <sup>(a)</sup>  | 4455 | 4508 |
|  |  | 335206 |
| **Health care 7.49%** |  |  |
| 1261229 B.C., Ltd. 10.00% 4/15/2032 <sup>(a)</sup>  | 2250 | 2342 |
| AbbVie, Inc. 4.80% 3/15/2029  | 750 | 769 |
| AbbVie, Inc. 5.05% 3/15/2034  | 10229 | 10516 |
| AbbVie, Inc. 5.35% 3/15/2044  | 350 | 346 |
| AbbVie, Inc. 5.50% 3/15/2064  | 1535 | 1492 |
| AdaptHealth, LLC 6.125% 8/1/2028 <sup>(a)</sup>  | 225 | 228 |
| AdaptHealth, LLC 4.625% 8/1/2029 <sup>(a)</sup>  | 4039 | 3931 |
| AdaptHealth, LLC 5.125% 3/1/2030 <sup>(a)</sup>  | 1224 | 1200 |
| Amgen, Inc. 4.20% 3/1/2033  | 6958 | 6804 |
| Amgen, Inc. 5.25% 3/2/2033  | 10063 | 10420 |
| Amgen, Inc. 3.00% 1/15/2052  | 4600 | 2971 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **247** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Health care (continued)** |  |  |
| Amgen, Inc. 5.65% 3/2/2053  | USD<br> 5,934<br>| $5815 |
| Amgen, Inc. 5.75% 3/2/2063  | 1250 | 1221 |
| Amneal Pharmaceuticals, LLC 6.875% 8/1/2032 <sup>(a)</sup>  | 615 | 650 |
| Ascension Health 4.923% 11/15/2035  | 1499 | 1502 |
| AstraZeneca Finance, LLC 5.00% 2/26/2034  | 1505 | 1558 |
| Avantor Funding, Inc. 3.875% 11/1/2029 <sup>(a)</sup>  | 941 | 904 |
| Bausch Health Americas, Inc. 8.50% 1/31/2027 <sup>(a)</sup>  | 3865 | 3830 |
| Baxter International, Inc. 5.65% 12/15/2035  | 9864 | 9986 |
| Baxter International, Inc. 3.132% 12/1/2051  | 1475 | 929 |
| Bristol-Myers Squibb Co. 5.20% 2/22/2034  | 427 | 444 |
| Bristol-Myers Squibb Co. 5.55% 2/22/2054  | 3811 | 3745 |
| Centene Corp. 2.50% 3/1/2031  | 11769 | 10170 |
| Centene Corp. 2.625% 8/1/2031  | 3765 | 3241 |
| CHS / Community Health Systems, Inc. 5.25% 5/15/2030 <sup>(a)</sup>  | 600 | 565 |
| CHS / Community Health Systems, Inc. 10.875% 1/15/2032 <sup>(a)</sup>  | 1008 | 1101 |
| Cigna Group (The) 5.25% 1/15/2036  | 3650 | 3718 |
| Cigna Group (The) 6.00% 1/15/2056  | 3916 | 4030 |
| CVS Health Corp. 5.00% 9/15/2032  | 1081 | 1104 |
| CVS Health Corp. 5.45% 9/15/2035  | 11884 | 12169 |
| CVS Health Corp. 6.00% 6/1/2044  | 750 | 754 |
| CVS Health Corp. 6.05% 6/1/2054  | 8129 | 8088 |
| CVS Health Corp. 6.20% 9/15/2055  | 5413 | 5500 |
| CVS Health Corp. 6.00% 6/1/2063  | 671 | 651 |
| CVS Health Corp. 6.25% 9/15/2065  | 1500 | 1511 |
| DaVita, Inc. 4.625% 6/1/2030 <sup>(a)</sup>  | 1500 | 1460 |
| DaVita, Inc. 6.875% 9/1/2032 <sup>(a)</sup>  | 5655 | 5890 |
| DaVita, Inc. 6.75% 7/15/2033 <sup>(a)</sup>  | 4715 | 4893 |
| Elevance Health, Inc. 5.00% 1/15/2036  | 8084 | 8039 |
| Elevance Health, Inc. 5.70% 9/15/2055  | 2100 | 2059 |
| Eli Lilly and Co. 5.10% 2/12/2035  | 2492 | 2577 |
| Eli Lilly and Co. 4.90% 10/15/2035  | 2250 | 2293 |
| Endo Finance Holdings, Inc. 8.50% 4/15/2031 <sup>(a)</sup>  | 6251 | 6615 |
| Gilead Sciences, Inc. 5.25% 10/15/2033  | 2219 | 2333 |
| Gilead Sciences, Inc. 5.10% 6/15/2035  | 4395 | 4506 |
| Grifols SA 7.50% 5/1/2030  | EUR<br> 1,700<br>| 2104 |
| Humana, Inc. 5.75% 4/15/2054  | USD<br> 557<br>| 526 |
| Humana, Inc. 6.00% 5/1/2055  | 1650 | 1603 |
| IQVIA, Inc. 6.25% 6/1/2032 <sup>(a)</sup>  | 2598 | 2718 |
| Johnson & Johnson 4.85% 3/1/2032  | 750 | 778 |
| Johnson & Johnson 5.00% 3/1/2035  | 1100 | 1146 |
| Johnson & Johnson 5.25% 6/1/2054  | 450 | 451 |
| Medline Borrower, LP 3.875% 4/1/2029 <sup>(a)</sup>  | 3000 | 2931 |
| Medline Borrower, LP 5.25% 10/1/2029 <sup>(a)</sup>  | 4800 | 4829 |
| Molina Healthcare, Inc. 6.50% 2/15/2031 <sup>(a)</sup>  | 3545 | 3645 |
| Molina Healthcare, Inc. 6.25% 1/15/2033 <sup>(a)</sup>  | 2858 | 2916 |
| Organon & Co. 4.125% 4/30/2028 <sup>(a)</sup>  | 630 | 616 |
| Owens & Minor, Inc. 4.50% 3/31/2029 <sup>(a)</sup>  | 2285 | 1553 |
| Owens & Minor, Inc. 6.25% 4/1/2030 <sup>(a)</sup>  | 10335 | 6605 |
| Perrigo Finance Unlimited Co. 6.125% 9/30/2032  | 2595 | 2530 |
| Pfizer Investment Enterprises Pte., Ltd. 5.11% 5/19/2043  | 300 | 289 |
| Pfizer Investment Enterprises Pte., Ltd. 5.30% 5/19/2053  | 5843 | 5536 |
| Radiology Partners, Inc. 9.781% PIK 2/15/2030 <sup>(a)(d)</sup>  | 3224 | 3107 |
| Radiology Partners, Inc. 8.50% 7/15/2032 <sup>(a)</sup>  | 1025 | 1072 |
| Roche Holdings, Inc. 4.985% 3/8/2034 <sup>(a)</sup>  | 1516 | 1562 |
| Sotera Health Holdings, LLC 7.375% 6/1/2031 <sup>(a)</sup>  | 3755 | 3943 |
| Surgery Center Holdings, Inc. 7.25% 4/15/2032 <sup>(a)</sup>  | 2300 | 2329 |
| Takeda U.S. Financing, Inc. 5.20% 7/7/2035  | 12233 | 12466 |
| Takeda U.S. Financing, Inc. 5.90% 7/7/2055  | 988 | 1000 |
| Tenet Healthcare Corp. 6.75% 5/15/2031  | 2960 | 3081 |
| Teva Pharmaceutical Finance Netherlands III BV 6.75% 3/1/2028  | 4615 | 4793 |
| Teva Pharmaceutical Finance Netherlands III BV 5.125% 5/9/2029  | 4155 | 4205 |
| Teva Pharmaceutical Finance Netherlands III BV 7.875% 9/15/2029  | 5502 | 6059 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **248** |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Health care (continued)** |  |  |
| Teva Pharmaceutical Finance Netherlands III BV 8.125% 9/15/2031  | USD<br> 3,332<br>| $3841 |
| Teva Pharmaceutical Finance Netherlands III BV 6.00% 12/1/2032  | 4075 | 4280 |
| Teva Pharmaceutical Finance Netherlands III BV 4.10% 10/1/2046  | 2300 | 1742 |
| Teva Pharmaceutical Finance Netherlands IV BV 5.75% 12/1/2030  | 5145 | 5341 |
| UnitedHealth Group, Inc. 5.00% 4/15/2034  | 3790 | 3856 |
| UnitedHealth Group, Inc. 5.15% 7/15/2034  | 3535 | 3622 |
| UnitedHealth Group, Inc. 5.30% 6/15/2035  | 11100 | 11497 |
| UnitedHealth Group, Inc. 5.50% 7/15/2044  | 2025 | 2011 |
| UnitedHealth Group, Inc. 2.90% 5/15/2050  | 444 | 285 |
| UnitedHealth Group, Inc. 5.95% 6/15/2055  | 6285 | 6458 |
| Viatris, Inc. 4.00% 6/22/2050  | 3106 | 2070 |
|  |  | 294266 |
| **Consumer discretionary 7.48%** |  |  |
| Acushnet Co. 5.625% 12/1/2033 <sup>(a)</sup>  | 140 | 142 |
| Advance Auto Parts, Inc. 3.90% 4/15/2030  | 9386 | 8623 |
| Advance Auto Parts, Inc. 3.50% 3/15/2032  | 6461 | 5506 |
| Advance Auto Parts, Inc. 7.375% 8/1/2033 <sup>(a)</sup>  | 5730 | 5757 |
| Allied Universal Holdco, LLC 4.625% 6/1/2028 <sup>(a)</sup>  | 1219 | 1203 |
| Allied Universal Holdco, LLC 6.00% 6/1/2029 <sup>(a)</sup>  | 635 | 629 |
| Allied Universal Holdco, LLC 6.875% 6/15/2030 <sup>(a)</sup>  | 7998 | 8332 |
| Allwyn Entertainment Financing (UK) PLC 7.875% 4/30/2029 <sup>(a)</sup>  | 775 | 807 |
| Amazon.com, Inc. 4.10% 11/20/2030  | 1725 | 1727 |
| Amazon.com, Inc. 4.65% 11/20/2035  | 1975 | 1968 |
| Amazon.com, Inc. 5.45% 11/20/2055  | 750 | 733 |
| Amazon.com, Inc. 5.55% 11/20/2065  | 350 | 340 |
| Asbury Automotive Group, Inc. 4.625% 11/15/2029 <sup>(a)</sup>  | 5215 | 5131 |
| AutoNation, Inc. 5.89% 3/15/2035  | 7790 | 8078 |
| Bath & Body Works, Inc. 6.875% 11/1/2035  | 740 | 749 |
| Bath & Body Works, Inc. 6.75% 7/1/2036  | 1000 | 994 |
| Boyd Gaming Corp. 4.75% 12/1/2027  | 1020 | 1019 |
| Boyne USA, Inc. 4.75% 5/15/2029 <sup>(a)</sup>  | 1010 | 997 |
| Caesars Entertainment, Inc. 4.625% 10/15/2029 <sup>(a)</sup>  | 6360 | 6105 |
| Caesars Entertainment, Inc. 7.00% 2/15/2030 <sup>(a)</sup>  | 642 | 665 |
| Caesars Entertainment, Inc. 6.50% 2/15/2032 <sup>(a)</sup>  | 6734 | 6902 |
| Carnival Corp. 5.125% 5/1/2029 <sup>(a)</sup>  | 3005 | 3040 |
| Carnival Corp. 7.00% 8/15/2029 <sup>(a)</sup>  | 575 | 604 |
| Carnival Corp. 5.75% 3/15/2030 <sup>(a)</sup>  | 8780 | 9037 |
| Carnival Corp. 5.75% 8/1/2032 <sup>(a)</sup>  | 4600 | 4727 |
| Carnival Corp. 6.125% 2/15/2033 <sup>(a)</sup>  | 8636 | 8922 |
| Cougar JV Subsidiary, LLC 8.00% 5/15/2032 <sup>(a)</sup>  | 1935 | 2076 |
| Fertitta Entertainment, LLC 4.625% 1/15/2029 <sup>(a)</sup>  | 3665 | 3564 |
| First Student Bidco, Inc. 4.00% 7/31/2029 <sup>(a)</sup>  | 4247 | 4143 |
| Flutter Treasury DAC 5.875% 6/4/2031 <sup>(a)</sup>  | 867 | 880 |
| Ford Motor Co. 7.45% 7/16/2031  | 375 | 415 |
| Ford Motor Co. 6.10% 8/19/2032  | 410 | 423 |
| Ford Motor Co. 5.291% 12/8/2046  | 511 | 425 |
| Ford Motor Credit Co., LLC 2.70% 8/10/2026  | 100 | 99 |
| Ford Motor Credit Co., LLC 5.85% 5/17/2027  | 699 | 710 |
| Ford Motor Credit Co., LLC 4.95% 5/28/2027  | 350 | 351 |
| Ford Motor Credit Co., LLC 3.815% 11/2/2027  | 607 | 598 |
| Ford Motor Credit Co., LLC 5.918% 3/20/2028  | 1464 | 1499 |
| Ford Motor Credit Co., LLC 6.798% 11/7/2028  | 1450 | 1522 |
| Ford Motor Credit Co., LLC 7.20% 6/10/2030  | 500 | 536 |
| Ford Motor Credit Co., LLC 5.73% 9/5/2030  | 8931 | 9072 |
| Ford Motor Credit Co., LLC 6.054% 11/5/2031  | 11488 | 11784 |
| Ford Motor Credit Co., LLC 6.532% 3/19/2032  | 5208 | 5449 |
| Ford Motor Credit Co., LLC 7.122% 11/7/2033  | 650 | 698 |
| Ford Motor Credit Co., LLC 6.125% 3/8/2034  | 3196 | 3249 |
| Ford Motor Credit Co., LLC 6.50% 2/7/2035  | 9864 | 10223 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **249** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Consumer discretionary (continued)** |  |  |
| Ford Motor Credit Co., LLC 5.869% 10/31/2035  | USD<br> 3,550<br>| $3507 |
| General Motors Financial Co., Inc. 5.45% 7/15/2030  | 299 | 311 |
| General Motors Financial Co., Inc. 5.45% 9/6/2034  | 2770 | 2811 |
| General Motors Financial Co., Inc. 5.90% 1/7/2035  | 2266 | 2364 |
| General Motors Financial Co., Inc. 6.15% 7/15/2035  | 4661 | 4914 |
| GENM Capital Labuan, Ltd. 3.882% 4/19/2031  | 3750 | 3400 |
| Genting New York, LLC 7.25% 10/1/2029 <sup>(a)</sup>  | 420 | 431 |
| Gildan Activewear, Inc. 5.40% 10/7/2035 <sup>(a)</sup>  | 1075 | 1073 |
| Great Canadian Gaming Corp. 8.75% 11/15/2029 <sup>(a)</sup>  | 700 | 708 |
| Hilton Domestic Operating Co., Inc. 4.875% 1/15/2030  | 950 | 954 |
| Hilton Domestic Operating Co., Inc. 4.00% 5/1/2031 <sup>(a)</sup>  | 3000 | 2874 |
| Hilton Domestic Operating Co., Inc. 5.50% 3/31/2034 <sup>(a)</sup>  | 1150 | 1158 |
| Hilton Domestic Operating Company Inc. 5.75% 9/15/2033 <sup>(a)</sup>  | 3720 | 3809 |
| Home Depot, Inc. 4.85% 6/25/2031  | 591 | 611 |
| Home Depot, Inc. 4.95% 6/25/2034  | 2990 | 3059 |
| Home Depot, Inc. 5.30% 6/25/2054  | 221 | 212 |
| Home Depot, Inc. 5.40% 6/25/2064  | 3490 | 3342 |
| Hyundai Capital America 4.875% 6/23/2027 <sup>(a)</sup>  | 678 | 686 |
| International Game Technology PLC 5.25% 1/15/2029 <sup>(a)</sup>  | 200 | 200 |
| LCM Investments Holdings II, LLC 4.875% 5/1/2029 <sup>(a)</sup>  | 1075 | 1060 |
| LCM Investments Holdings II, LLC 8.25% 8/1/2031 <sup>(a)</sup>  | 535 | 566 |
| Levi Strauss & Co. 3.50% 3/1/2031 <sup>(a)</sup>  | 3025 | 2828 |
| Light and Wonder International, Inc. 7.50% 9/1/2031 <sup>(a)</sup>  | 2300 | 2404 |
| Light and Wonder International, Inc. 6.25% 10/1/2033 <sup>(a)</sup>  | 980 | 993 |
| Lithia Motors, Inc. 3.875% 6/1/2029 <sup>(a)</sup>  | 3576 | 3460 |
| Lithia Motors, Inc. 5.50% 10/1/2030 <sup>(a)</sup>  | 740 | 746 |
| McDonald's Corp. 5.00% 5/17/2029  | 196 | 202 |
| Newell Brands, Inc. 8.50% 6/1/2028 <sup>(a)</sup>  | 330 | 346 |
| Newell Brands, Inc. 6.375% 5/15/2030  | 7230 | 7070 |
| Newell Brands, Inc. 6.625% 5/15/2032  | 8235 | 8001 |
| Newell Brands, Inc. 7.375% 4/1/2036  | 7444 | 7000 |
| Newell Brands, Inc. 7.50% 4/1/2046  | 200 | 167 |
| Nissan Motor Acceptance Co., LLC 5.55% 9/13/2029 <sup>(a)</sup>  | 810 | 808 |
| Nissan Motor Co., Ltd. 4.345% 9/17/2027 <sup>(a)</sup>  | 205 | 202 |
| Nissan Motor Co., Ltd. 7.50% 7/17/2030 <sup>(a)</sup>  | 2645 | 2778 |
| Nissan Motor Co., Ltd. 7.75% 7/17/2032 <sup>(a)</sup>  | 3520 | 3742 |
| Nissan Motor Co., Ltd. 8.125% 7/17/2035 <sup>(a)</sup>  | 11550 | 12284 |
| Party City Holdings, Inc. 0% 8/27/2030 <sup>(e)</sup>  | 74 | 1 |
| RHP Hotel Properties, LP 7.25% 7/15/2028 <sup>(a)</sup>  | 79 | 81 |
| RHP Hotel Properties, LP 4.50% 2/15/2029 <sup>(a)</sup>  | 5761 | 5709 |
| RHP Hotel Properties, LP 6.50% 6/15/2033 <sup>(a)</sup>  | 375 | 391 |
| Royal Caribbean Cruises, Ltd. 5.50% 4/1/2028 <sup>(a)</sup>  | 2427 | 2472 |
| Royal Caribbean Cruises, Ltd. 5.375% 1/15/2036  | 6212 | 6240 |
| Sally Holdings, LLC 6.75% 3/1/2032  | 5629 | 5885 |
| Scientific Games Holdings, LP 6.625% 3/1/2030 <sup>(a)</sup>  | 950 | 845 |
| Service Corp. International 5.75% 10/15/2032  | 735 | 749 |
| Sonic Automotive, Inc. 4.625% 11/15/2029 <sup>(a)</sup>  | 814 | 800 |
| Sonic Automotive, Inc. 4.875% 11/15/2031 <sup>(a)</sup>  | 7370 | 7150 |
| Starbucks Corp. 5.00% 2/15/2034  | 297 | 303 |
| Starbucks Corp. 5.40% 5/15/2035  | 612 | 637 |
| Station Casinos, LLC 6.625% 3/15/2032 <sup>(a)</sup>  | 1070 | 1100 |
| TopBuild Corp. 5.625% 1/31/2034 <sup>(a)</sup>  | 1140 | 1154 |
| Universal Entertainment Corp. 9.875% 8/1/2029 <sup>(a)</sup>  | 3310 | 3251 |
| Vail Resorts, Inc. 5.625% 7/15/2030 <sup>(a)</sup>  | 770 | 785 |
| Vail Resorts, Inc. 6.50% 5/15/2032 <sup>(a)</sup>  | 731 | 759 |
| Valvoline, Inc. 3.625% 6/15/2031 <sup>(a)</sup>  | 1685 | 1550 |
| Wyndham Hotels & Resorts, Inc. 4.375% 8/15/2028 <sup>(a)</sup>  | 1776 | 1759 |
| Wynn Macau, Ltd. 5.625% 8/26/2028  | 450 | 450 |
| Wynn Resorts Finance, LLC 7.125% 2/15/2031 <sup>(a)</sup>  | 6713 | 7268 |
| ZF North America Capital, Inc. 6.75% 4/23/2030 <sup>(a)</sup>  | 2985 | 2952 |
|  |  | 293825 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **250** |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Communication services 6.46%** |  |  |
| Alphabet, Inc. 4.375% 11/15/2032  | USD<br> 1,351<br>| $1356 |
| Alphabet, Inc. 4.70% 11/15/2035  | 3522 | 3524 |
| Alphabet, Inc. 5.25% 5/15/2055  | 124 | 119 |
| Alphabet, Inc. 5.30% 5/15/2065  | 97 | 91 |
| Altice France 6.50% 3/15/2032 <sup>(a)</sup>  | 4410 | 4230 |
| Altice France 6.875% 7/15/2032 <sup>(a)</sup>  | 4450 | 4270 |
| AT&T, Inc. 3.50% 9/15/2053  | 675 | 452 |
| AT&T, Inc. 3.55% 9/15/2055  | 240 | 160 |
| CCO Holdings, LLC 5.00% 2/1/2028 <sup>(a)</sup>  | 1366 | 1356 |
| CCO Holdings, LLC 4.75% 3/1/2030 <sup>(a)</sup>  | 334 | 319 |
| CCO Holdings, LLC 4.25% 2/1/2031 <sup>(a)</sup>  | 845 | 777 |
| CCO Holdings, LLC 4.75% 2/1/2032 <sup>(a)</sup>  | 1025 | 938 |
| CCO Holdings, LLC 4.50% 5/1/2032  | 1815 | 1630 |
| CCO Holdings, LLC 4.50% 6/1/2033 <sup>(a)</sup>  | 11227 | 9840 |
| CCO Holdings, LLC 4.25% 1/15/2034 <sup>(a)</sup>  | 8013 | 6821 |
| Charter Communications Operating, LLC 4.40% 4/1/2033  | 3545 | 3341 |
| Charter Communications Operating, LLC 6.65% 2/1/2034  | 1230 | 1296 |
| Charter Communications Operating, LLC 6.384% 10/23/2035  | 6462 | 6675 |
| Charter Communications Operating, LLC 4.80% 3/1/2050  | 2690 | 2023 |
| Charter Communications Operating, LLC 3.70% 4/1/2051  | 11935 | 7542 |
| Charter Communications Operating, LLC 3.90% 6/1/2052  | 2320 | 1499 |
| Charter Communications Operating, LLC 5.25% 4/1/2053  | 9455 | 7490 |
| Charter Communications Operating, LLC 6.70% 12/1/2055  | 2967 | 2847 |
| Clear Channel Outdoor Holdings, Inc. 7.75% 4/15/2028 <sup>(a)</sup>  | 1427 | 1429 |
| Clear Channel Outdoor Holdings, Inc. 7.50% 6/1/2029 <sup>(a)</sup>  | 125 | 124 |
| Clear Channel Outdoor Holdings, Inc. 7.125% 2/15/2031 <sup>(a)</sup>  | 1250 | 1313 |
| Comcast Corp. 5.65% 6/1/2054  | 4018 | 3770 |
| Connect Finco SARL 9.00% 9/15/2029 <sup>(a)</sup>  | 15386 | 16340 |
| CSC Holdings, LLC 5.50% 4/15/2027 <sup>(a)</sup>  | 650 | 558 |
| DIRECTV Financing, LLC 5.875% 8/15/2027 <sup>(a)</sup>  | 2424 | 2440 |
| DIRECTV Financing, LLC 8.875% 2/1/2030 <sup>(a)</sup>  | 8280 | 8388 |
| DISH Network Corp. 11.75% 11/15/2027 <sup>(a)</sup>  | 2775 | 2890 |
| EchoStar Corp. 10.75% 11/30/2029  | 7747 | 8573 |
| EchoStar Corp. 6.75% Cash 11/30/2030 <sup>(d)</sup>  | 7310 | 7498 |
| Frontier Communications Holdings, LLC 5.00% 5/1/2028 <sup>(a)</sup>  | 25 | 25 |
| Frontier Communications Holdings, LLC 6.75% 5/1/2029 <sup>(a)</sup>  | 4298 | 4333 |
| Frontier Communications Holdings, LLC 6.00% 1/15/2030 <sup>(a)</sup>  | 916 | 932 |
| Frontier Communications Holdings, LLC 8.75% 5/15/2030 <sup>(a)</sup>  | 50 | 52 |
| Frontier Communications Holdings, LLC 8.625% 3/15/2031 <sup>(a)</sup>  | 125 | 132 |
| Gray Media, Inc. 10.50% 7/15/2029 <sup>(a)</sup>  | 3062 | 3298 |
| Gray Media, Inc. 4.75% 10/15/2030 <sup>(a)</sup>  | 351 | 273 |
| Gray Media, Inc. 5.375% 11/15/2031 <sup>(a)</sup>  | 1509 | 1133 |
| Gray Media, Inc. 9.625% 7/15/2032 <sup>(a)</sup>  | 4449 | 4620 |
| Lamar Media Corp. 3.625% 1/15/2031  | 325 | 306 |
| Lamar Media Corp. 5.375% 11/1/2033 <sup>(a)</sup>  | 1375 | 1368 |
| Lindblad Expeditions, LLC 7.00% 9/15/2030 <sup>(a)</sup>  | 930 | 971 |
| Meta Platforms, Inc. 4.60% 11/15/2032  | 398 | 401 |
| Meta Platforms, Inc. 4.875% 11/15/2035  | 7571 | 7564 |
| Meta Platforms, Inc. 5.50% 11/15/2045  | 3241 | 3149 |
| Meta Platforms, Inc. 4.45% 8/15/2052  | 6452 | 5255 |
| Meta Platforms, Inc. 5.40% 8/15/2054  | 300 | 279 |
| Meta Platforms, Inc. 5.625% 11/15/2055  | 4118 | 3956 |
| Meta Platforms, Inc. 5.75% 11/15/2065  | 2612 | 2494 |
| News Corp. 3.875% 5/15/2029 <sup>(a)</sup>  | 280 | 272 |
| Nexstar Media, Inc. 4.75% 11/1/2028 <sup>(a)</sup>  | 5305 | 5269 |
| Sirius XM Radio, LLC 4.00% 7/15/2028 <sup>(a)</sup>  | 2060 | 2016 |
| Sirius XM Radio, LLC 5.50% 7/1/2029 <sup>(a)</sup>  | 575 | 580 |
| Sirius XM Radio, LLC 4.125% 7/1/2030 <sup>(a)</sup>  | 5727 | 5451 |
| Sirius XM Radio, LLC 3.875% 9/1/2031 <sup>(a)</sup>  | 14072 | 12969 |
| Snap, Inc. 6.875% 3/1/2033 <sup>(a)</sup>  | 9920 | 10287 |
| T-Mobile USA, Inc. 3.50% 2/11/2037  | EUR<br> 1,250<br>| 1410 |
| Univision Communications, Inc. 8.00% 8/15/2028 <sup>(a)</sup>  | USD<br> 4,425<br>| 4586 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **251** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Communication services (continued)** |  |  |
| Univision Communications, Inc. 4.50% 5/1/2029 <sup>(a)</sup>  | USD<br> 7,065<br>| $6792 |
| Univision Communications, Inc. 7.375% 6/30/2030 <sup>(a)</sup>  | 6304 | 6430 |
| Univision Communications, Inc. 8.50% 7/31/2031 <sup>(a)</sup>  | 6340 | 6628 |
| Univision Communications, Inc. 9.375% 8/1/2032 <sup>(a)</sup>  | 4850 | 5216 |
| Verizon Communications, Inc. 2.355% 3/15/2032  | 167 | 147 |
| Verizon Communications, Inc. 4.75% 1/15/2033  | 681 | 681 |
| Verizon Communications, Inc. 5.00% 1/15/2036  | 3687 | 3657 |
| Verizon Communications, Inc. 5.75% 11/30/2045  | 461 | 458 |
| Verizon Communications, Inc. 3.55% 3/22/2051  | 310 | 220 |
| Verizon Communications, Inc. 3.875% 3/1/2052  | 324 | 240 |
| Verizon Communications, Inc. 5.875% 11/30/2055  | 1109 | 1097 |
| Verizon Communications, Inc. 6.00% 11/30/2065  | 519 | 513 |
| Versant Media Group, Inc. 7.25% 1/30/2031 <sup>(a)</sup>  | 1115 | 1151 |
| WarnerMedia Holdings, Inc. 4.054% 3/15/2029  | 150 | 146 |
| WarnerMedia Holdings, Inc. 4.279% 3/15/2032  | 1305 | 1147 |
| WarnerMedia Holdings, Inc. 5.05% 3/15/2042  | 18889 | 13340 |
| WarnerMedia Holdings, Inc. 5.141% 3/15/2052  | 899 | 595 |
| WMG Acquisition Corp. 3.875% 7/15/2030 <sup>(a)</sup>  | 287 | 276 |
|  |  | 254034 |
| **Information technology 4.96%** |  |  |
| Amphenol Corp. 4.40% 2/15/2033  | 1059 | 1048 |
| Amphenol Corp. 4.625% 2/15/2036  | 3803 | 3727 |
| Amphenol Corp. 5.30% 11/15/2055  | 183 | 175 |
| ams-OSRAM AG 12.25% 3/30/2029 <sup>(a)</sup>  | 3975 | 4242 |
| Analog Devices, Inc. 5.05% 4/1/2034  | 1649 | 1705 |
| Broadcom, Inc. 5.15% 11/15/2031  | 1687 | 1751 |
| Broadcom, Inc. 4.55% 2/15/2032  | 739 | 741 |
| Broadcom, Inc. 2.60% 2/15/2033  | 116 | 102 |
| Broadcom, Inc. 3.469% 4/15/2034  | 4144 | 3780 |
| Broadcom, Inc. 4.80% 10/15/2034  | 885 | 887 |
| Broadcom, Inc. 5.20% 7/15/2035  | 6177 | 6331 |
| Broadcom, Inc. 4.926% 5/15/2037 <sup>(a)</sup>  | 2141 | 2114 |
| Cisco Systems, Inc. 5.05% 2/26/2034  | 2591 | 2667 |
| Cloud Software Group, Inc. 6.50% 3/31/2029 <sup>(a)</sup>  | 755 | 765 |
| Cloud Software Group, Inc. 9.00% 9/30/2029 <sup>(a)</sup>  | 9993 | 10415 |
| Cloud Software Group, Inc. 8.25% 6/30/2032 <sup>(a)</sup>  | 7822 | 8179 |
| Cloud Software Group, Inc. 6.625% 8/15/2033 <sup>(a)</sup>  | 2780 | 2757 |
| CommScope Technologies, LLC 5.00% 3/15/2027 <sup>(a)</sup>  | 2860 | 2856 |
| CommScope, LLC 8.25% 3/1/2027 <sup>(a)</sup>  | 148 | 149 |
| CommScope, LLC 7.125% 7/1/2028 <sup>(a)</sup>  | 55 | 55 |
| CommScope, LLC 4.75% 9/1/2029 <sup>(a)</sup>  | 76 | 76 |
| CommScope, LLC 9.50% 12/15/2031 <sup>(a)</sup>  | 650 | 657 |
| Diebold Nixdorf, Inc. 7.75% 3/31/2030 <sup>(a)</sup>  | 8660 | 9237 |
| Ellucian Holdings, Inc. 6.50% 12/1/2029 <sup>(a)</sup>  | 1500 | 1533 |
| Fair Isaac Corp. 6.00% 5/15/2033 <sup>(a)</sup>  | 5615 | 5785 |
| Hughes Satellite Systems Corp. 5.25% 8/1/2026  | 1663 | 1591 |
| Hughes Satellite Systems Corp. 6.625% 8/1/2026  | 2317 | 2118 |
| Intel Corp. 3.05% 8/12/2051  | 1045 | 643 |
| Intel Corp. 5.60% 2/21/2054  | 5900 | 5451 |
| Microchip Technology, Inc. 5.05% 3/15/2029  | 775 | 791 |
| Microchip Technology, Inc. 5.05% 2/15/2030  | 5577 | 5693 |
| Micron Technology, Inc. 6.05% 11/1/2035  | 8200 | 8753 |
| NCR Atleos Corp. 9.50% 4/1/2029 <sup>(a)</sup>  | 2790 | 3030 |
| Oracle Corp. 4.45% 9/26/2030  | 450 | 440 |
| Oracle Corp. 5.50% 8/3/2035  | 11369 | 11146 |
| Oracle Corp. 5.20% 9/26/2035  | 9810 | 9402 |
| Oracle Corp. 5.875% 9/26/2045  | 1000 | 904 |
| Oracle Corp. 5.95% 9/26/2055  | 8900 | 7891 |
| Oracle Corp. 6.10% 9/26/2065  | 1000 | 883 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **252** |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Information technology (continued)** |  |  |
| Roper Technologies, Inc. 4.90% 10/15/2034  | USD<br> 1,939<br>| $1936 |
| Roper Technologies, Inc. 5.10% 9/15/2035  | 5271 | 5313 |
| Shift4 Payments, LLC 6.75% 8/31/2032 <sup>(a)</sup>  | 335 | 346 |
| Synopsys, Inc. 4.85% 4/1/2030  | 2750 | 2810 |
| Synopsys, Inc. 5.15% 4/1/2035  | 4550 | 4626 |
| Synopsys, Inc. 5.70% 4/1/2055  | 7200 | 7150 |
| Texas Instruments, Inc. 5.10% 5/23/2035  | 150 | 155 |
| UKG, Inc. 6.875% 2/1/2031 <sup>(a)</sup>  | 5280 | 5432 |
| Unisys Corp. 10.625% 1/15/2031 <sup>(a)</sup>  | 12834 | 13158 |
| Viasat, Inc. 5.625% 4/15/2027 <sup>(a)</sup>  | 3265 | 3273 |
| Wolfspeed, Inc. 4.00% PIK and 9.875% Cash 6/23/2030 <sup>(d)(f)</sup>  | 801 | 873 |
| WULF Compute, LLC 7.75% 10/15/2030 <sup>(a)</sup>  | 6080 | 6269 |
| X.AI Corp. 12.50% 6/30/2030  | 12295 | 13118 |
|  |  | 194929 |
| **Materials 4.95%** |  |  |
| Avient Corp. 6.25% 11/1/2031 <sup>(a)</sup>  | 260 | 267 |
| Axalta Coating Systems Dutch Holding B BV 7.25% 2/15/2031 <sup>(a)</sup>  | 834 | 881 |
| Axalta Coating Systems, LLC 4.75% 6/15/2027 <sup>(a)</sup>  | 625 | 626 |
| Ball Corp. 5.50% 9/15/2033  | 6501 | 6632 |
| BHP Billiton Finance (USA), Ltd. 4.90% 2/28/2033  | 36 | 37 |
| BHP Billiton Finance (USA), Ltd. 5.25% 9/8/2033  | 6066 | 6310 |
| BHP Billiton Finance (USA), Ltd. 5.75% 9/5/2055  | 334 | 341 |
| Braskem Netherlands Finance BV 4.50% 1/10/2028  | 1489 | 614 |
| Braskem Netherlands Finance BV 4.50% 1/31/2030  | 280 | 110 |
| Braskem Netherlands Finance BV 8.75% 1/12/2031 <sup>(a)</sup>  | 2468 | 968 |
| Braskem Netherlands Finance BV 7.25% 2/13/2033 <sup>(a)</sup>  | 3725 | 1446 |
| Braskem Netherlands Finance BV 8.00% 10/15/2034 <sup>(a)</sup>  | 6100 | 2368 |
| Braskem Netherlands Finance BV 8.00% 10/15/2034  | 1250 | 485 |
| Braskem Netherlands Finance BV 5.875% 1/31/2050  | 2320 | 808 |
| CAN-PACK SA 3.875% 11/15/2029 <sup>(a)</sup>  | 400 | 383 |
| Capstone Copper Corp. 6.75% 3/31/2033 <sup>(a)</sup>  | 750 | 779 |
| Celanese US Holdings, LLC 6.85% 11/15/2028  | 181 | 190 |
| Celanese US Holdings, LLC 6.50% 4/15/2030  | 5322 | 5353 |
| Celanese US Holdings, LLC 7.00% 2/15/2031  | 1075 | 1101 |
| Celanese US Holdings, LLC 6.879% 7/15/2032  | 8632 | 8990 |
| Celanese US Holdings, LLC 7.20% 11/15/2033  | 9554 | 10101 |
| Celanese US Holdings, LLC 7.375% 2/15/2034  | 2660 | 2704 |
| Celulosa Arauco y Constitucion SA 6.18% 5/5/2032 <sup>(a)</sup>  | 1315 | 1360 |
| Cleveland-Cliffs, Inc. 6.875% 11/1/2029 <sup>(a)</sup>  | 6988 | 7242 |
| Cleveland-Cliffs, Inc. 7.50% 9/15/2031 <sup>(a)</sup>  | 6525 | 6888 |
| Cleveland-Cliffs, Inc. 7.00% 3/15/2032 <sup>(a)</sup>  | 300 | 308 |
| Cleveland-Cliffs, Inc. 7.375% 5/1/2033 <sup>(a)</sup>  | 4935 | 5137 |
| Cleveland-Cliffs, Inc. 7.625% 1/15/2034 <sup>(a)</sup>  | 4945 | 5171 |
| Commercial Metals Co. 5.75% 11/15/2033 <sup>(a)</sup>  | 725 | 742 |
| Commercial Metals Co. 6.00% 12/15/2035 <sup>(a)</sup>  | 300 | 308 |
| Consolidated Energy Finance SA 12.00% 2/15/2031 <sup>(a)</sup>  | 8158 | 5778 |
| Dow Chemical Co. (The) 4.80% 1/15/2031  | 1750 | 1741 |
| Dow Chemical Co. (The) 5.15% 2/15/2034  | 1000 | 993 |
| Dow Chemical Co. (The) 5.35% 3/15/2035  | 1793 | 1778 |
| Dow Chemical Co. (The) 5.65% 3/15/2036  | 11953 | 11908 |
| Dow Chemical Co. (The) 6.90% 5/15/2053  | 1125 | 1155 |
| Dow Chemical Co. (The) 5.60% 2/15/2054  | 5553 | 4832 |
| Element Solutions, Inc. 3.875% 9/1/2028 <sup>(a)</sup>  | 1730 | 1692 |
| First Quantum Minerals, Ltd. 9.375% 3/1/2029 <sup>(a)</sup>  | 6499 | 6852 |
| FXI Holdings, Inc. 16.00% PIK 11/15/2029 (14.00% on 11/15/2028) <sup>(a)(b)(d)</sup>  | 2307 | 1315 |
| FXI Holdings, Inc. 11.00% 11/15/2030 <sup>(a)</sup>  | 3946 | 3552 |
| JH North America Holdings, Inc. 5.875% 1/31/2031 <sup>(a)</sup>  | 740 | 756 |
| JH North America Holdings, Inc. 6.125% 7/31/2032 <sup>(a)</sup>  | 715 | 734 |
| LSB Industries, Inc. 6.25% 10/15/2028 <sup>(a)</sup>  | 1677 | 1681 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **253** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Materials (continued)** |  |  |
| LYB International Finance III, LLC 5.125% 1/15/2031  | USD<br> 246<br>| $247 |
| LYB International Finance III, LLC 5.50% 3/1/2034  | 1102 | 1090 |
| LYB International Finance III, LLC 6.15% 5/15/2035  | 4331 | 4441 |
| LYB International Finance III, LLC 5.875% 1/15/2036  | 3894 | 3877 |
| Magnera Corp. 7.25% 11/15/2031 <sup>(a)</sup>  | 10630 | 10446 |
| Mauser Packaging Solutions Holding Co. 7.875% 4/15/2027 <sup>(a)</sup>  | 2290 | 2210 |
| Minera Mexico, SA de CV, 5.625% 2/12/2032 <sup>(a)</sup>  | 3435 | 3559 |
| Mineral Resources, Ltd. 9.25% 10/1/2028 <sup>(a)</sup>  | 3070 | 3225 |
| Mineral Resources, Ltd. 8.50% 5/1/2030 <sup>(a)</sup>  | 3115 | 3242 |
| NOVA Chemicals Corp. 5.25% 6/1/2027 <sup>(a)</sup>  | 685 | 691 |
| NOVA Chemicals Corp. 4.25% 5/15/2029 <sup>(a)</sup>  | 105 | 103 |
| PT Krakatau Posco 6.375% 6/11/2029  | 1500 | 1550 |
| Quikrete Holdings, Inc. 6.375% 3/1/2032 <sup>(a)</sup>  | 4671 | 4865 |
| Quikrete Holdings, Inc. 6.75% 3/1/2033 <sup>(a)</sup>  | 1105 | 1155 |
| Samarco Mineracao SA 9.00% PIK 6/30/2031 (5.50% PIK and 3.50% Cash on 12/30/2026) <sup>(b)(d)</sup>  | 284 | 288 |
| Samarco Mineracao SA 9.00% PIK 6/30/2031 (5.50% PIK and 3.50% Cash on 12/30/2026) <sup>(b)(d)</sup>  | 239 | 242 |
| Sasol Financing USA, LLC 8.75% 5/3/2029 <sup>(f)</sup>  | 1600 | 1630 |
| Sasol Financing USA, LLC 8.75% 5/3/2029 <sup>(a)</sup>  | 1100 | 1121 |
| Sasol Financing USA, LLC 5.50% 3/18/2031  | 2000 | 1700 |
| SCIH Salt Holdings, Inc. 4.875% 5/1/2028 <sup>(a)</sup>  | 553 | 555 |
| SCIH Salt Holdings, Inc. 6.625% 5/1/2029 <sup>(a)</sup>  | 4535 | 4558 |
| Sealed Air Corp. 4.00% 12/1/2027 <sup>(a)</sup>  | 1425 | 1419 |
| Sealed Air Corp. 6.125% 2/1/2028 <sup>(a)</sup>  | 2254 | 2293 |
| Sherwin-Williams Co. 4.50% 8/15/2030  | 500 | 505 |
| Sherwin-Williams Co. 5.15% 8/15/2035  | 1064 | 1083 |
| Solstice Advanced Materials, Inc. 5.625% 9/30/2033 <sup>(a)</sup>  | 880 | 888 |
| Stillwater Mining Co. 4.00% 11/16/2026 <sup>(f)</sup>  | 1019 | 1012 |
| Trivium Packaging Finance BV 8.25% 7/15/2030 <sup>(a)</sup>  | 194 | 208 |
| Trivium Packaging Finance BV 12.25% 1/15/2031 <sup>(a)</sup>  | 680 | 738 |
| Vale Overseas, Ltd. 6.40% 6/28/2054  | 4549 | 4647 |
| Vale Overseas, Ltd. 6.00% 2/25/2056 (5-year UST Yield Curve Rate T Note Constant Maturity + 2.431% on <br> 2/25/2031) <sup>(a)(b)</sup>  | 3000 | 3004 |
| Veritiv Operating Co. 10.50% 11/30/2030 <sup>(a)</sup>  | 650 | 700 |
| Westlake Corp. 5.55% 11/15/2035  | 3826 | 3827 |
|  |  | 194536 |
| **Industrials 4.70%** |  |  |
| AAR Escrow Issuer, LLC 6.75% 3/15/2029 <sup>(a)</sup>  | 199 | 206 |
| AECOM 6.00% 8/1/2033 <sup>(a)</sup>  | 105 | 108 |
| Allison Transmission, Inc. 5.875% 12/1/2033 <sup>(a)</sup>  | 315 | 320 |
| Ambipar Lux SARL 9.875% 2/6/2031 <sup>(a)</sup>  | 590 | 133 |
| Ambipar Lux SARL 10.875% 2/5/2033 <sup>(a)</sup>  | 925 | 164 |
| Amentum Holdings, Inc. 7.25% 8/1/2032 <sup>(a)</sup>  | 4115 | 4340 |
| American Airlines, Inc. 8.50% 5/15/2029 <sup>(a)</sup>  | 1250 | 1308 |
| Aramark Services, Inc. 5.00% 2/1/2028 <sup>(a)</sup>  | 1320 | 1321 |
| ATI, Inc. 4.875% 10/1/2029  | 1232 | 1234 |
| ATI, Inc. 7.25% 8/15/2030  | 349 | 369 |
| Avis Budget Car Rental, LLC 4.75% 4/1/2028 <sup>(a)</sup>  | 1000 | 979 |
| BAE Systems PLC 5.30% 3/26/2034 <sup>(a)</sup>  | 1000 | 1036 |
| Boeing Co. (The) 5.15% 5/1/2030  | 2687 | 2762 |
| Boeing Co. (The) 6.528% 5/1/2034  | 3304 | 3657 |
| Boeing Co. (The) 5.705% 5/1/2040  | 730 | 746 |
| Boeing Co. (The) 5.805% 5/1/2050  | 1420 | 1399 |
| Boeing Co. (The) 6.858% 5/1/2054  | 4121 | 4631 |
| Boeing Co. (The) 5.93% 5/1/2060  | 2445 | 2401 |
| Canadian National Railway Co. 4.375% 9/18/2034  | 375 | 369 |
| Canadian Pacific Railway Co. 5.20% 3/30/2035  | 2323 | 2392 |
| Carpenter Technology Corp. 5.625% 3/1/2034 <sup>(a)</sup>  | 310 | 315 |
| Clarivate Science Holdings Corp. 3.875% 7/1/2028 <sup>(a)</sup>  | 340 | 330 |
| Clean Harbors, Inc. 6.375% 2/1/2031 <sup>(a)</sup>  | 45 | 46 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **254** |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Industrials (continued)** |  |  |
| Clean Harbors, Inc. 5.75% 10/15/2033 <sup>(a)</sup>  | USD<br> 1,090<br>| $1120 |
| CoreLogic, Inc. 4.50% 5/1/2028 <sup>(a)</sup>  | 6956 | 6847 |
| CSX Corp. 2.50% 5/15/2051  | 220 | 131 |
| Embraer Netherlands Finance BV 5.98% 2/11/2035  | 283 | 301 |
| EquipmentShare.com, Inc. 9.00% 5/15/2028 <sup>(a)</sup>  | 4405 | 4583 |
| EquipmentShare.com, Inc. 8.625% 5/15/2032 <sup>(a)</sup>  | 6420 | 6789 |
| EquipmentShare.com, Inc. 8.00% 3/15/2033 <sup>(a)</sup>  | 3860 | 4066 |
| FTAI Aviation Investors, LLC 5.875% 4/15/2033 <sup>(a)</sup>  | 4800 | 4882 |
| Garda World Security Corp. 6.50% 1/15/2031 <sup>(a)</sup>  | 730 | 747 |
| Garda World Security Corp. 8.375% 11/15/2032 <sup>(a)</sup>  | 1360 | 1387 |
| General Electric Co. 4.30% 7/29/2030  | 271 | 273 |
| General Electric Co. 4.90% 1/29/2036  | 4398 | 4467 |
| Herc Holdings, Inc. 6.625% 6/15/2029 <sup>(a)</sup>  | 2370 | 2469 |
| Herc Holdings, Inc. 7.00% 6/15/2030 <sup>(a)</sup>  | 3745 | 3944 |
| Herc Holdings, Inc. 5.75% 3/15/2031 <sup>(a)</sup>  | 775 | 787 |
| Herc Holdings, Inc. 7.25% 6/15/2033 <sup>(a)</sup>  | 8220 | 8721 |
| Herc Holdings, Inc. 6.00% 3/15/2034 <sup>(a)</sup>  | 810 | 821 |
| Hertz Corp. (The) 4.625% 12/1/2026 <sup>(a)</sup>  | 450 | 431 |
| Honeywell International, Inc. 5.00% 3/1/2035  | 1669 | 1701 |
| Icahn Enterprises, LP 6.25% 5/15/2026  | 1194 | 1197 |
| Icahn Enterprises, LP 5.25% 5/15/2027  | 10286 | 10152 |
| Icahn Enterprises, LP 9.75% 1/15/2029  | 4460 | 4452 |
| Icahn Enterprises, LP 10.00% 11/15/2029 <sup>(a)</sup>  | 405 | 405 |
| IRB Infrastructure Developers, Ltd. 7.11% 3/11/2032 <sup>(a)</sup>  | 435 | 450 |
| LATAM Airlines Group SA 7.875% 4/15/2030 <sup>(a)</sup>  | 755 | 795 |
| Lima Metro Line 2 Finance, Ltd. 5.875% 7/5/2034  | 461 | 480 |
| Miter Brands Acquisition Holdco, Inc. 6.75% 4/1/2032 <sup>(a)</sup>  | 608 | 624 |
| NESCO Holdings II, Inc. 5.50% 4/15/2029 <sup>(a)</sup>  | 7990 | 7877 |
| Norfolk Southern Corp. 5.05% 8/1/2030  | 57 | 59 |
| Norfolk Southern Corp. 4.45% 3/1/2033  | 15 | 15 |
| Norfolk Southern Corp. 5.35% 8/1/2054  | 3426 | 3275 |
| Paychex, Inc. 5.60% 4/15/2035  | 267 | 280 |
| QXO Building Products, Inc. 6.75% 4/30/2032 <sup>(a)</sup>  | 4710 | 4923 |
| Regal Rexnord Corp. 6.30% 2/15/2030  | 1841 | 1952 |
| Regal Rexnord Corp. 6.40% 4/15/2033  | 6975 | 7506 |
| Reworld Holding Corp. 4.875% 12/1/2029 <sup>(a)</sup>  | 4710 | 4531 |
| Sabre GLBL, Inc. 11.125% 7/15/2030 <sup>(a)</sup>  | 4198 | 3486 |
| Science Applications International Corp. 5.875% 11/1/2033 <sup>(a)</sup>  | 1285 | 1304 |
| Sensata Technologies BV 4.00% 4/15/2029 <sup>(a)</sup>  | 3800 | 3723 |
| Sensata Technologies, Inc. 3.75% 2/15/2031 <sup>(a)</sup>  | 3693 | 3468 |
| Siemens Funding BV 5.80% 5/28/2055 <sup>(a)</sup>  | 704 | 738 |
| Siemens Funding BV 5.90% 5/28/2065 <sup>(a)</sup>  | 541 | 568 |
| TransDigm, Inc. 6.375% 3/1/2029 <sup>(a)</sup>  | 300 | 310 |
| TransDigm, Inc. 6.625% 3/1/2032 <sup>(a)</sup>  | 1500 | 1563 |
| TransDigm, Inc. 6.375% 5/31/2033 <sup>(a)</sup>  | 8710 | 8943 |
| TransDigm, Inc. 6.25% 1/31/2034 <sup>(a)</sup>  | 1690 | 1755 |
| TransDigm, Inc. 6.75% 1/31/2034 <sup>(a)</sup>  | 6750 | 7036 |
| Union Pacific Corp. 5.10% 2/20/2035  | 3242 | 3347 |
| Union Pacific Corp. 3.50% 2/14/2053  | 358 | 254 |
| Union Pacific Corp. 5.60% 12/1/2054  | 3316 | 3309 |
| United Rentals (North America), Inc. 5.25% 1/15/2030  | 385 | 391 |
| United Rentals (North America), Inc. 6.125% 3/15/2034 <sup>(a)</sup>  | 2360 | 2461 |
| Verisk Analytics, Inc. 5.125% 2/15/2036  | 5160 | 5196 |
| Waste Pro USA, Inc. 7.00% 2/1/2033 <sup>(a)</sup>  | 615 | 635 |
| WESCO Distribution, Inc. 7.25% 6/15/2028 <sup>(a)</sup>  | 435 | 442 |
| WESCO Distribution, Inc. 6.625% 3/15/2032 <sup>(a)</sup>  | 850 | 889 |
| WESCO Distribution, Inc. 6.375% 3/15/2033 <sup>(a)</sup>  | 895 | 935 |
|  |  | 184759 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **255** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Consumer staples 4.44%** |  |  |
| Albertsons Cos., Inc. 3.50% 3/15/2029 <sup>(a)</sup>  | USD<br> 275<br>| $264 |
| Albertsons Cos., Inc. 5.50% 3/31/2031 <sup>(a)</sup>  | 3950 | 3997 |
| Albertsons Cos., Inc. 5.75% 3/31/2034 <sup>(a)</sup>  | 3775 | 3795 |
| Altria Group, Inc. 5.25% 8/6/2035  | 3300 | 3342 |
| Anheuser-Busch InBev Worldwide, Inc. 5.00% 6/15/2034  | 880 | 910 |
| B&G Foods, Inc. 5.25% 9/15/2027  | 990 | 970 |
| B&G Foods, Inc. 8.00% 9/15/2028 <sup>(a)</sup>  | 7228 | 7120 |
| BAT Capital Corp. 4.625% 3/22/2033  | 630 | 627 |
| BAT Capital Corp. 6.421% 8/2/2033  | 3345 | 3695 |
| BAT Capital Corp. 6.00% 2/20/2034  | 3759 | 4026 |
| BAT Capital Corp. 5.625% 8/15/2035  | 8602 | 8965 |
| BAT Capital Corp. 7.081% 8/2/2053  | 6486 | 7361 |
| BAT Capital Corp. 6.25% 8/15/2055  | 261 | 271 |
| Central Garden & Pet Co. 4.125% 4/30/2031 <sup>(a)</sup>  | 9070 | 8591 |
| Coca-Cola Co. 5.20% 1/14/2055  | 451 | 435 |
| Constellation Brands, Inc. 2.25% 8/1/2031  | 1140 | 1012 |
| Constellation Brands, Inc. 4.75% 5/9/2032  | 3266 | 3281 |
| Coty, Inc. 6.625% 7/15/2030 <sup>(a)</sup>  | 1030 | 1059 |
| Coty, Inc. 5.60% 1/15/2031 <sup>(a)</sup>  | 7748 | 7826 |
| Darling Ingredients, Inc. 6.00% 6/15/2030 <sup>(a)</sup>  | 2250 | 2288 |
| Fiesta Purchaser, Inc. 10.00% 9/30/2032 <sup>(a)</sup>  | 525 | 552 |
| Imperial Brands Finance PLC 5.875% 7/1/2034 <sup>(a)</sup>  | 3180 | 3327 |
| Imperial Brands Finance PLC 5.625% 7/1/2035 <sup>(a)</sup>  | 500 | 514 |
| Imperial Brands Finance PLC 6.375% 7/1/2055 <sup>(a)</sup>  | 1297 | 1326 |
| Ingles Markets, Inc. 4.00% 6/15/2031 <sup>(a)</sup>  | 4924 | 4677 |
| Keurig Dr Pepper, Inc. 5.15% 5/15/2035  | 3221 | 3229 |
| Kronos Acquisition Holdings, Inc. 10.75% 6/30/2032 <sup>(a)</sup>  | 535 | 244 |
| Lamb Weston Holdings, Inc. 4.125% 1/31/2030 <sup>(a)</sup>  | 250 | 242 |
| Lamb Weston Holdings, Inc. 4.375% 1/31/2032 <sup>(a)</sup>  | 5449 | 5196 |
| MARB BondCo PLC 3.95% 1/29/2031  | 1606 | 1457 |
| Mars, Inc. 5.20% 3/1/2035 <sup>(a)</sup>  | 14237 | 14638 |
| Mars, Inc. 5.65% 5/1/2045 <sup>(a)</sup>  | 1330 | 1341 |
| Mars, Inc. 5.70% 5/1/2055 <sup>(a)</sup>  | 8104 | 8078 |
| Mars, Inc. 5.80% 5/1/2065 <sup>(a)</sup>  | 476 | 479 |
| Minerva Luxembourg SA 8.875% 9/13/2033 <sup>(a)</sup>  | 2190 | 2396 |
| Mondelez International, Inc. 4.75% 8/28/2034  | 72 | 72 |
| Mondelez International, Inc. 5.125% 5/6/2035  | 620 | 635 |
| Opal Bidco SAS 6.50% 3/31/2032 <sup>(a)</sup>  | 975 | 999 |
| Performance Food Group, Inc. 4.25% 8/1/2029 <sup>(a)</sup>  | 166 | 163 |
| Performance Food Group, Inc. 6.125% 9/15/2032 <sup>(a)</sup>  | 2190 | 2260 |
| Philip Morris International, Inc. 4.75% 11/1/2031  | 512 | 523 |
| Philip Morris International, Inc. 5.375% 2/15/2033  | 2780 | 2909 |
| Philip Morris International, Inc. 5.625% 9/7/2033  | 5088 | 5406 |
| Philip Morris International, Inc. 5.25% 2/13/2034  | 6875 | 7109 |
| Philip Morris International, Inc. 4.90% 11/1/2034  | 8757 | 8831 |
| Philip Morris International, Inc. 4.625% 10/29/2035  | 1942 | 1901 |
| Post Holdings, Inc. 4.625% 4/15/2030 <sup>(a)</sup>  | 4845 | 4722 |
| Post Holdings, Inc. 6.25% 2/15/2032 <sup>(a)</sup>  | 303 | 312 |
| Post Holdings, Inc. 6.375% 3/1/2033 <sup>(a)</sup>  | 8790 | 8887 |
| Post Holdings, Inc. 6.50% 3/15/2036 <sup>(a)</sup>  | 1845 | 1849 |
| Prestige Brands, Inc. 3.75% 4/1/2031 <sup>(a)</sup>  | 2995 | 2808 |
| TreeHouse Foods, Inc. 4.00% 9/1/2028  | 5808 | 5793 |
| US Foods, Inc. 4.625% 6/1/2030 <sup>(a)</sup>  | 320 | 316 |
| Walmart, Inc. 4.90% 4/28/2035  | 1200 | 1234 |
|  |  | 174260 |
| **Real estate 3.92%** |  |  |
| Anywhere Real Estate Group, LLC 5.25% 4/15/2030 <sup>(a)</sup>  | 2555 | 2397 |
| Boston Properties, LP 2.55% 4/1/2032  | 3422 | 2988 |
| Boston Properties, LP 2.45% 10/1/2033  | 3878 | 3210 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **256** |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Real estate (continued)** |  |  |
| Boston Properties, LP 6.50% 1/15/2034  | USD<br> 1,984<br>| $2138 |
| Boston Properties, LP 5.75% 1/15/2035  | 9812 | 10097 |
| Brookfield Property REIT, Inc. 5.75% 5/15/2026 <sup>(a)</sup>  | 504 | 501 |
| Forestar Group, Inc. 6.50% 3/15/2033 <sup>(a)</sup>  | 1385 | 1414 |
| Highwoods Realty, LP 7.65% 2/1/2034  | 4629 | 5278 |
| Howard Hughes Corp. (The) 5.375% 8/1/2028 <sup>(a)</sup>  | 5 | 5 |
| Howard Hughes Corp. (The) 4.125% 2/1/2029 <sup>(a)</sup>  | 7160 | 6964 |
| Howard Hughes Corp. (The) 4.375% 2/1/2031 <sup>(a)</sup>  | 4261 | 4060 |
| Hudson Pacific Properties, LP 4.65% 4/1/2029  | 500 | 463 |
| Hudson Pacific Properties, LP 3.25% 1/15/2030  | 9985 | 8451 |
| Iron Mountain, Inc. 5.25% 7/15/2030 <sup>(a)</sup>  | 335 | 331 |
| Iron Mountain, Inc. 6.25% 1/15/2033 <sup>(a)</sup>  | 1500 | 1514 |
| Kennedy-Wilson, Inc. 4.75% 3/1/2029  | 3309 | 3230 |
| Kennedy-Wilson, Inc. 4.75% 2/1/2030  | 7060 | 6660 |
| Kennedy-Wilson, Inc. 5.00% 3/1/2031  | 10000 | 9413 |
| Kilroy Realty, LP 5.875% 10/15/2035  | 4942 | 4967 |
| Kilroy Realty, LP 6.25% 1/15/2036  | 673 | 696 |
| Ladder Capital Finance Holdings LLLP 5.50% 8/1/2030  | 1190 | 1219 |
| MPT Operating Partnership, LP 5.00% 10/15/2027  | 13028 | 12627 |
| MPT Operating Partnership, LP 3.50% 3/15/2031  | 2745 | 1998 |
| MPT Operating Partnership, LP 8.50% 2/15/2032 <sup>(a)</sup>  | 13997 | 14958 |
| Park Intermediate Holdings, LLC 4.875% 5/15/2029 <sup>(a)</sup>  | 8384 | 8193 |
| Pebblebrook Hotel, LP 6.375% 10/15/2029 <sup>(a)</sup>  | 345 | 354 |
| Piedmont Operating Partnership, LP 5.625% 1/15/2033  | 2679 | 2708 |
| Prologis, LP 4.75% 6/15/2033  | 1110 | 1121 |
| Prologis, LP 5.00% 3/15/2034  | 2025 | 2066 |
| Prologis, LP 5.00% 1/31/2035  | 1072 | 1087 |
| RLJ Lodging Trust, LP 3.75% 7/1/2026 <sup>(a)</sup>  | 140 | 140 |
| Service Properties Trust 4.95% 2/15/2027  | 2066 | 2076 |
| Service Properties Trust 8.00% 9/30/2027 <sup>(a)</sup>  | 1895 | 1715 |
| Service Properties Trust 3.95% 1/15/2028  | 5345 | 5050 |
| Service Properties Trust 8.375% 6/15/2029  | 4820 | 4850 |
| Service Properties Trust 4.95% 10/1/2029  | 4769 | 4160 |
| Service Properties Trust 4.375% 2/15/2030  | 7140 | 6056 |
| Service Properties Trust 8.625% 11/15/2031 <sup>(a)</sup>  | 7287 | 7669 |
| Trust 2401 7.70% 1/23/2032 <sup>(a)</sup>  | 280 | 310 |
| VICI Properties, LP 5.625% 4/1/2035  | 944 | 964 |
|  |  | 154098 |
| **Utilities 3.32%** |  |  |
| Aegea Finance SARL 9.00% 1/20/2031 <sup>(a)</sup>  | 1788 | 1894 |
| AEP Transmission Co., LLC 5.375% 6/15/2035  | 125 | 129 |
| Calpine Corp. 5.125% 3/15/2028 <sup>(a)</sup>  | 1000 | 1002 |
| CenterPoint Energy Houston Electric, LLC 5.05% 3/1/2035  | 265 | 268 |
| Comision Federal de Electricidad 6.45% 1/24/2035 <sup>(a)</sup>  | 2040 | 2102 |
| Consumers Energy Co. 5.05% 5/15/2035  | 3945 | 4016 |
| Duke Energy Carolinas, LLC 5.35% 1/15/2053  | 275 | 265 |
| Duke Energy Corp. 4.50% 8/15/2032  | 329 | 328 |
| Duke Energy Florida, LLC 5.875% 11/15/2033  | 90 | 97 |
| Duke Energy Florida, LLC 4.85% 12/1/2035  | 665 | 662 |
| Edison International 4.125% 3/15/2028  | 575 | 569 |
| Edison International 5.25% 11/15/2028  | 750 | 760 |
| Edison International 5.45% 6/15/2029  | 1245 | 1268 |
| Edison International 6.95% 11/15/2029  | 1350 | 1439 |
| Edison International 6.25% 3/15/2030  | 1000 | 1046 |
| Edison International 5.25% 3/15/2032  | 6380 | 6388 |
| Edison International, junior subordinated, 7.875% 6/15/2054 (5-year UST Yield Curve Rate T Note Constant <br> Maturity + 3.658% on 6/15/2029) <sup>(b)</sup>  | 3290 | 3456 |
| Electricite de France SA 9.125% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T <br> Note Constant Maturity + 5.411% on 6/15/2033) <sup>(a)(b)</sup>  | 2750 | 3209 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **257** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** | **Corporate bonds and notes (continued)** |
| **Utilities (continued)** |  |  |
| Enel Finance International NV 5.00% 9/30/2035 <sup>(a)</sup>  | USD<br> 1,250<br>| $1245 |
| Florida Power & Light Co. 5.30% 6/15/2034  | 4750 | 4978 |
| Florida Power & Light Co. 4.70% 2/15/2036  | 1900 | 1883 |
| Ithaca Energy (North sea) PLC 8.125% 10/15/2029 <sup>(a)</sup>  | 565 | 585 |
| Long Ridge Energy, LLC 8.75% 2/15/2032 <sup>(a)</sup>  | 6057 | 6452 |
| NextEra Energy Capital Holdings, Inc. 4.685% 9/1/2027  | 275 | 278 |
| Northern States Power Co. 5.65% 5/15/2055  | 360 | 363 |
| Pacific Gas and Electric Co. 3.00% 6/15/2028  | 220 | 213 |
| Pacific Gas and Electric Co. 4.55% 7/1/2030  | 74 | 74 |
| Pacific Gas and Electric Co. 3.25% 6/1/2031  | 420 | 392 |
| Pacific Gas and Electric Co. 6.15% 1/15/2033  | 1000 | 1062 |
| Pacific Gas and Electric Co. 6.40% 6/15/2033  | 7145 | 7719 |
| Pacific Gas and Electric Co. 5.70% 3/1/2035  | 2800 | 2881 |
| Pacific Gas and Electric Co. 3.30% 8/1/2040  | 135 | 103 |
| Pacific Gas and Electric Co. 4.95% 7/1/2050  | 7673 | 6494 |
| Pacific Gas and Electric Co. 3.50% 8/1/2050  | 12115 | 8185 |
| Pacific Gas and Electric Co. 6.70% 4/1/2053  | 930 | 983 |
| Pacific Gas and Electric Co. 5.90% 10/1/2054  | 605 | 583 |
| PacifiCorp 5.45% 2/15/2034  | 4910 | 4983 |
| PacifiCorp 3.30% 3/15/2051  | 695 | 446 |
| PacifiCorp 2.90% 6/15/2052  | 1508 | 884 |
| PacifiCorp 5.35% 12/1/2053  | 754 | 663 |
| PacifiCorp 5.50% 5/15/2054  | 366 | 327 |
| PacifiCorp 5.80% 1/15/2055  | 6475 | 6047 |
| PG&E Corp. 5.25% 7/1/2030  | 6355 | 6314 |
| PG&E Corp., junior subordinated, 7.375% 3/15/2055 (5-year UST Yield Curve Rate T Note Constant Maturity + <br> 3.883% on 3/15/2030) <sup>(b)</sup>  | 6709 | 6991 |
| Public Service Electric and Gas Co. 5.05% 3/1/2035  | 2700 | 2760 |
| Public Service Electric and Gas Co. 4.90% 8/15/2035  | 1236 | 1248 |
| Public Service Enterprise Group, Inc. 5.40% 3/15/2035  | 955 | 984 |
| Southern California Edison Co. 5.65% 10/1/2028  | 254 | 263 |
| Southern California Edison Co. 2.50% 6/1/2031  | 645 | 579 |
| Southern California Edison Co. 5.20% 6/1/2034  | 4280 | 4305 |
| Southern California Edison Co. 4.00% 4/1/2047  | 219 | 164 |
| Southern California Edison Co. 3.65% 2/1/2050  | 9563 | 6693 |
| Southern California Edison Co. 5.90% 3/1/2055  | 1550 | 1498 |
| Southern California Edison Co. 6.20% 9/15/2055  | 700 | 706 |
| Talen Energy Supply, LLC 8.625% 6/1/2030 <sup>(a)</sup>  | 5019 | 5316 |
| Union Electric Co. 5.25% 4/15/2035  | 2640 | 2725 |
| Union Electric Co. 5.125% 3/15/2055  | 50 | 46 |
| Vistra Operations Co., LLC 4.375% 5/1/2029 <sup>(a)</sup>  | 440 | 435 |
| Xcel Energy, Inc. 5.50% 3/15/2034  | 44 | 45 |
| YPF Energia Electrica SA 7.875% 10/16/2032 <sup>(a)</sup>  | 2755 | 2767 |
|  |  | 130560 |
| **Municipals 0.01%** |  |  |
| Texas Combined Tirz I, LLC 0% 12/7/2062 <sup>(a)(e)</sup>  | 393 | 393 |
| **Total corporate bonds and notes** |  | 2756463 |
| **Mortgage-backed obligations 15.60%** | **Mortgage-backed obligations 15.60%** | **Mortgage-backed obligations 15.60%** |
| **Commercial mortgage-backed securities 9.88%** |  |  |
| 3650R Commercial Mortgage Trust, Series 2022-PF2, Class B, 5.291% 11/15/2055 <sup>(g)(h)</sup>  | 634 | 616 |
| ALA Trust, Series 2025-OANA, Class C, (1-month USD CME Term SOFR + 2.092%) 5.843% 6/15/2030 <sup>(a)(g)(h)</sup>  | 7426 | 7459 |
| Atrium Hotel Portfolio Trust, Series 2024-ATRM, Class D, 7.935% 11/10/2029 <sup>(a)(g)(h)</sup>  | 6887 | 7048 |
| Bank5, Series 2025-5YR17, Class B, 5.992% 11/15/2058 <sup>(g)(h)</sup>  | 1996 | 2059 |
| Bank Commercial Mortgage Trust, Series 2022-BNK44, Class B, 5.746% 11/15/2032 <sup>(g)(h)</sup>  | 556 | 564 |
| Bank Commercial Mortgage Trust, Series 2022-BNK44, Class C, 5.746% 11/15/2032 <sup>(g)(h)</sup>  | 500 | 487 |
| Bank Commercial Mortgage Trust, Series 2023-BNK45, Class B, 6.148% 2/15/2056 <sup>(g)(h)</sup>  | 375 | 388 |
| Bank Commercial Mortgage Trust, Series 2023-BNK45, Class C, 6.312% 2/15/2056 <sup>(g)(h)</sup>  | 102 | 103 |
| Bank Commercial Mortgage Trust, Series 2023-5YR1, Class B, 6.457% 4/15/2056 <sup>(g)(h)</sup>  | 400 | 413 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **258** |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities (continued)** |  |  |
| Bank Commercial Mortgage Trust, Series 2023-5YR2, Class AS, 7.141% 7/15/2056 <sup>(g)(h)</sup>  | USD<br> 267<br>| $282 |
| Bank Commercial Mortgage Trust, Series 2023-BNK46, Class C, 6.774% 8/15/2056 <sup>(g)(h)</sup>  | 493 | 503 |
| Bank Commercial Mortgage Trust, Series 2023-BNK46, Class B, 6.774% 8/15/2056 <sup>(g)(h)</sup>  | 380 | 403 |
| Bank Commercial Mortgage Trust, Series 2023-5YR4, Class B, 7.605% 12/15/2056 <sup>(g)(h)</sup>  | 598 | 642 |
| Bank Commercial Mortgage Trust, Series 2024-5YR9, Class B, 6.483% 8/15/2057 <sup>(g)(h)</sup>  | 3265 | 3419 |
| Bank Commercial Mortgage Trust, Series 2024-5YR11, Class B, 6.322% 11/15/2057 <sup>(g)(h)</sup>  | 1972 | 2053 |
| Bank Commercial Mortgage Trust, Series 2024-5YR11, Class C, 6.322% 11/15/2057 <sup>(g)(h)</sup>  | 629 | 640 |
| Bank Commercial Mortgage Trust, Series 2024-5YR12, Class B, 6.277% 12/15/2057 <sup>(g)(h)</sup>  | 3644 | 3796 |
| Bank Commercial Mortgage Trust, Series 2024-5YR12, Class C, 6.302% 12/15/2057 <sup>(g)(h)</sup>  | 1961 | 2018 |
| Bank Commercial Mortgage Trust, Series 2025-5YR14, Class C, 6.463% 4/15/2058 <sup>(g)(h)</sup>  | 779 | 801 |
| Bank Commercial Mortgage Trust, Series 2025-5YR14, Class B, 6.474% 4/15/2058 <sup>(g)(h)</sup>  | 1747 | 1829 |
| Bank Commercial Mortgage Trust, Series 2019-BN18, Class C, 4.21% 5/15/2062 <sup>(g)(h)</sup>  | 500 | 426 |
| Barclays Commercial Mortgage Securities, LLC, Series 2018-TALL, Class A, ((1-month USD CME Term SOFR + <br> 0.047%) + 0.872%) 4.669% 3/15/2037 <sup>(a)(g)(h)</sup>  | 1600 | 1517 |
| Barclays Commercial Mortgage Securities, LLC, Series 2022-C15, Class C, 3.931% 4/15/2055 <sup>(g)(h)</sup>  | 5684 | 4871 |
| Barclays Commercial Mortgage Securities, LLC, Series 2022-C18, Class C, 6.168% 12/15/2055 <sup>(g)(h)</sup>  | 1008 | 1018 |
| Barclays Commercial Mortgage Securities, LLC, Series 2023-C19, Class AS, 6.07% 4/15/2056 <sup>(g)(h)</sup>  | 148 | 154 |
| Barclays Commercial Mortgage Securities, LLC, Series 2023-C20, Class C, 6.611% 7/15/2056 <sup>(g)(h)</sup>  | 470 | 483 |
| Barclays Commercial Mortgage Securities, LLC, Series 2024-C24, Class C, 6.00% 2/15/2057 <sup>(g)</sup>  | 207 | 202 |
| Barclays Commercial Mortgage Securities, LLC, Series 2024-C26, Class C, 6.00% 5/15/2057 <sup>(g)(h)</sup>  | 286 | 287 |
| Barclays Commercial Mortgage Securities, LLC, Series 24-5C27, Class B, 6.70% 7/15/2057 <sup>(g)(h)</sup>  | 2530 | 2656 |
| Barclays Commercial Mortgage Securities, LLC, Series 2024-C28, Class B, 5.894% 9/15/2057 <sup>(g)(h)</sup>  | 2670 | 2750 |
| Barclays Commercial Mortgage Securities, LLC, Series 2025-5C33, Class B, 6.435% 3/15/2058 <sup>(g)(h)</sup>  | 3571 | 3755 |
| Barclays Commercial Mortgage Securities, LLC, Series 2025-5C34, Class B, 6.542% 5/15/2058 <sup>(g)(h)</sup>  | 1182 | 1250 |
| Barclays Commercial Mortgage Securities, LLC, Series 2025-C32, Class C, 6.125% 2/15/2062 <sup>(g)</sup>  | 3421 | 3470 |
| Benchmark Mortgage Trust, Series 2021-B24, Class C, 3.293% 3/15/2054 <sup>(g)(h)</sup>  | 980 | 761 |
| Benchmark Mortgage Trust, Series 2023-B38, Class AM, 6.121% 4/15/2056 <sup>(g)(h)</sup>  | 226 | 237 |
| Benchmark Mortgage Trust, Series 2024-V7, Class AS, 6.533% 5/15/2056 <sup>(g)(h)</sup>  | 1074 | 1131 |
| Benchmark Mortgage Trust, Series 2023-V3, Class B, 6.924% 7/15/2056 <sup>(g)(h)</sup>  | 500 | 518 |
| Benchmark Mortgage Trust, Series 2023-B40, Class B, 6.581% 12/15/2056 <sup>(g)(h)</sup>  | 893 | 954 |
| Benchmark Mortgage Trust, Series 2024-V5, Class AM, 6.417% 1/10/2057 <sup>(g)(h)</sup>  | 403 | 420 |
| Benchmark Mortgage Trust, Series 2024-V5, Class C, 6.972% 1/10/2057 <sup>(g)(h)</sup>  | 101 | 104 |
| Benchmark Mortgage Trust, Series 2024-V8, Class B, 6.947% 7/15/2057 <sup>(g)(h)</sup>  | 1897 | 2010 |
| Benchmark Mortgage Trust, Series 2024-V9, Class B, 6.466% 8/15/2057 <sup>(g)(h)</sup>  | 1300 | 1355 |
| Benchmark Mortgage Trust, Series 2024-V10, Class B, 5.977% 9/15/2057 <sup>(g)(h)</sup>  | 3000 | 3073 |
| Benchmark Mortgage Trust, Series 2024-V12, Class B, 6.282% 12/15/2057 <sup>(g)(h)</sup>  | 5000 | 5166 |
| Benchmark Mortgage Trust, Series 2025-V15, Class B, 6.425% 6/15/2058 <sup>(g)(h)</sup>  | 1854 | 1940 |
| Benchmark Mortgage Trust, Series 2025-V18, Class C, 6.139% 10/15/2058 <sup>(g)</sup>  | 3860 | 3862 |
| BFLD Trust, Series 2025-5MW, Class A, 4.674% 10/10/2042 <sup>(a)(g)(h)</sup>  | 9148 | 9158 |
| BFLD Trust, Series 2025-5MW, Class D, 6.371% 10/10/2042 <sup>(a)(g)(h)</sup>  | 790 | 806 |
| BLP Commercial Mortgage Trust, Series 2024-IND2, Class D, (1-month USD CME Term SOFR + 2.59%) 6.34% <br> 3/15/2041 <sup>(a)(g)(h)</sup>  | 1444 | 1447 |
| BMO Mortgage Trust, Series 2023-5C1, Class B, 6.96% 8/15/2056 <sup>(g)(h)</sup>  | 1052 | 1098 |
| BMO Mortgage Trust, Series 2023-5C1, Class C, 7.117% 8/15/2056 <sup>(g)(h)</sup>  | 403 | 416 |
| BMO Mortgage Trust, Series 2024-5C3, Class D, 4.00% 2/15/2057 <sup>(a)(g)</sup>  | 167 | 150 |
| BMO Mortgage Trust, Series 2024-5C3, Class AS, 6.256% 2/15/2057 <sup>(g)(h)</sup>  | 196 | 204 |
| BMO Mortgage Trust, Series 2024-5C5, Class B, 6.747% 2/15/2057 <sup>(g)(h)</sup>  | 2268 | 2371 |
| BMO Mortgage Trust, Series 2024-5C3, Class C, 6.859% 2/15/2057 <sup>(g)(h)</sup>  | 89 | 92 |
| BMO Mortgage Trust, Series 2024-5C5, Class C, 6.88% 2/15/2057 <sup>(g)(h)</sup>  | 2836 | 2933 |
| BMO Mortgage Trust, Series 2024-5C4, Class C, 7.018% 5/15/2057 <sup>(g)(h)</sup>  | 854 | 885 |
| BMO Mortgage Trust, Series 2024-C9, Class B, 6.34% 7/15/2057 <sup>(g)(h)</sup>  | 1897 | 2007 |
| BMO Mortgage Trust, Series 2024-5C6, Class B, 6.086% 9/15/2057 <sup>(g)(h)</sup>  | 1641 | 1691 |
| BMO Mortgage Trust, Series 2024-C10, Class B, 6.079% 11/15/2057 <sup>(g)(h)</sup>  | 771 | 791 |
| BMP Trust, Series 2024-MF23, Class E, (1-month USD CME Term SOFR + 3.389%) 7.139% 6/15/2041 <sup>(a)(g)(h)</sup>  | 2809 | 2820 |
| Boca Commercial Mortgage Trust, Series 2025-BOCA, Class A, (1-month USD CME Term SOFR + 1.60%) <br> 5.45% 12/15/2042 <sup>(a)(g)(h)</sup>  | 2398 | 2405 |
| Boca Commercial Mortgage Trust, Series 2025-BOCA, Class B, (1-month USD CME Term SOFR + 1.90%) <br> 5.75% 12/15/2042 <sup>(a)(g)(h)</sup>  | 1453 | 1458 |
| Boca Commercial Mortgage Trust, Series 2025-BOCA, Class D, (1-month USD CME Term SOFR + 2.50%) <br> 6.35% 12/15/2042 <sup>(a)(g)(h)</sup>  | 331 | 332 |
| BOCA Commercial Mortgage Trust, Series 2025-BOCA, Class C, (1-month USD CME Term SOFR + 2.15%) <br> 6.00% 12/15/2042 <sup>(a)(g)(h)</sup>  | 985 | 988 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **259** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities (continued)** |  |  |
| BX Trust, Series 2024-KING, Class C, (1-month USD CME Term SOFR + 1.94%) 5.691% 5/15/2034 <sup>(a)(g)(h)</sup>  | USD<br> 2,663<br>| $2670 |
| BX Trust, Series 2024-KING, Class D, (1-month USD CME Term SOFR + 2.49%) 6.24% 5/15/2034 <sup>(a)(g)(h)</sup>  | 738 | 741 |
| BX Trust, Series 2022-AHP, Class A, (1-month USD CME Term SOFR + 0.99%) 4.74% 1/17/2039 <sup>(a)(g)(h)</sup>  | 769 | 769 |
| BX Trust, Series 2024-VLT4, Class E, (1-month USD CME Term SOFR + 2.889%) 6.64% 6/15/2041 <sup>(a)(g)(h)</sup>  | 10367 | 10364 |
| BX Trust, Series 2024-AIRC, Class D, (1-month USD CME Term SOFR + 3.089%) 6.84% 8/15/2039 <sup>(a)(g)(h)</sup>  | 3745 | 3763 |
| BX Trust, Series 2024-AIR2, Class D, (1-month USD CME Term SOFR + 2.79%) 6.541% 10/15/2041 <sup>(a)(g)(h)</sup>  | 2825 | 2838 |
| BX Trust, Series 2024-GPA2, Class A, (1-month USD CME Term SOFR + 1.542%) 5.292% 11/15/2041 <sup>(a)(g)(h)</sup>  | 2355 | 2360 |
| BX Trust, Series 2024-GPA2, Class D, (1-month USD CME Term SOFR + 2.591%) 6.341% 11/15/2041 <sup>(a)(g)(h)</sup>  | 342 | 343 |
| BX Trust, Series 2024-FNX, Class D, (1-month USD CME Term SOFR + 2.94%) 6.69% 11/15/2041 <sup>(a)(g)(h)</sup>  | 7191 | 7230 |
| BX Trust, Series 2024-GPA2, Class E, (1-month USD CME Term SOFR + 3.54%) 7.29% 11/15/2041 <sup>(a)(g)(h)</sup>  | 2044 | 2049 |
| BX Trust, Series 2025-BIO3, Class D, 6.961% 2/10/2042 <sup>(a)(g)(h)</sup>  | 7679 | 7809 |
| BX Trust, Series 2025-BIO3, Class C, 6.961% 2/10/2042 <sup>(a)(g)(h)</sup>  | 1385 | 1421 |
| BX Trust, Series 2025-VLT6, Class C, (1-month USD CME Term SOFR + 2.192%) 5.942% 3/15/2042 <sup>(a)(g)(h)</sup>  | 5373 | 5372 |
| BX Trust, Series 2025-VLT6, Class D, (1-month USD CME Term SOFR + 2.592%) 6.342% 3/15/2042 <sup>(a)(g)(h)</sup>  | 3282 | 3281 |
| BX Trust, Series 2025-GW, Class C, (1-month USD CME Term SOFR + 2.10%) 5.85% 7/15/2042 <sup>(a)(g)(h)</sup>  | 5520 | 5548 |
| BX Trust, Series 2020-VIV4, Class A, 2.843% 3/9/2044 <sup>(a)(g)</sup>  | 500 | 465 |
| BX Trust, Series 2020-VIV2, Class C, 3.542% 3/9/2044 <sup>(a)(g)(h)</sup>  | 500 | 470 |
| BX Trust, Series 2020-VIV3, Class B, 3.544% 3/9/2044 <sup>(a)(g)(h)</sup>  | 495 | 469 |
| BX Trust, Series 2025-VLT7, Class A, (1-month USD CME Term SOFR + 1.70%) 5.45% 7/15/2044 <sup>(a)(g)(h)</sup>  | 10420 | 10453 |
| BX Trust, Series 2025-VLT7, Class B, (1-month USD CME Term SOFR + 2.00%) 5.75% 7/15/2044 <sup>(a)(g)(h)</sup>  | 4325 | 4340 |
| BX Trust, Series 2025-VLT7, Class C, (1-month USD CME Term SOFR + 2.35%) 6.10% 7/15/2044 <sup>(a)(g)(h)</sup>  | 3997 | 4013 |
| BX Trust, Series 2025-VOLT, Class A, (1-month USD CME Term SOFR + 1.70%) 5.70% 12/15/2044 <sup>(a)(g)(h)</sup>  | 8725 | 8746 |
| BX Trust, Series 2025-VOLT, Class C, (1-month USD CME Term SOFR + 2.10%) 6.10% 12/15/2044 <sup>(a)(g)(h)</sup>  | 11990 | 12053 |
| BX Trust, Series 2025-VOLT, Class D, (1-month USD CME Term SOFR + 2.75%) 6.75% 12/15/2044 <sup>(a)(g)(h)</sup>  | 821 | 823 |
| CART, Series 2024-DFW1, Class D, (1-month USD CME Term SOFR + 3.04%) 6.79% 8/15/2041 <sup>(a)(g)(h)</sup>  | 2884 | 2889 |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class D, 6.047% 6/10/2028 <sup>(a)(g)(h)</sup>  | 1129 | 1133 |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class C, 6.047% 10/12/2040 <sup>(a)(g)(h)</sup>  | 245 | 249 |
| Citigroup Commercial Mortgage Trust, Series 2020-GC46, Class B, 3.15% 2/15/2053 <sup>(g)(h)</sup>  | 140 | 124 |
| DATA 2023-CNTR Mortgage Trust, Series 2023-CNTR, Class D, 5.728% 8/12/2043 <sup>(a)(g)(h)</sup>  | 664 | 619 |
| DC Commercial Mortgage Trust, Series 2023-DC, Class D, 7.14% 9/12/2040 <sup>(a)(g)(h)</sup>  | 1546 | 1592 |
| Durst Commercial Mortgage Trust, Series 2025-151, Class A, 5.317% 8/10/2042 <sup>(a)(g)(h)</sup>  | 4374 | 4466 |
| ELM Trust 2024, Series 2024-ELM, Class D10, 6.847% 6/10/2039 <sup>(a)(g)(h)</sup>  | 744 | 746 |
| ELM Trust 2024, Series 2024-ELM, Class D15, 6.897% 6/10/2039 <sup>(a)(g)(h)</sup>  | 669 | 671 |
| Extended Stay America Trust, Series 2025-ESH, Class A, (1-month USD CME Term SOFR + 1.30%) 5.05% <br> 10/15/2042 <sup>(a)(g)(h)</sup>  | 2654 | 2662 |
| Extended Stay America Trust, Series 2025-ESH, Class D, (1-month USD CME Term SOFR + 2.60%) 6.35% <br> 10/15/2042 <sup>(a)(g)(h)</sup>  | 2914 | 2940 |
| FIVE Mortgage Trust, Series 2023-V1, Class B, 6.348% 2/10/2056 <sup>(g)(h)</sup>  | 495 | 509 |
| FIVE Mortgage Trust, Series 2023-V1, Class C, 6.348% 2/10/2056 <sup>(g)(h)</sup>  | 195 | 197 |
| Fontainebleau Miami Beach Trust, Series 2024-FBLU, Class F, (1-month USD CME Term SOFR + 4.25%) 8.00% <br> 12/15/2039 <sup>(a)(g)(h)</sup>  | 4390 | 4429 |
| FS Commercial Mortgage Trust, Series 2023-4SZN, Class D, 9.08% 11/10/2039 <sup>(a)(g)(h)</sup>  | 3655 | 3741 |
| Great Wolf Trust, Series 2024-WOLF, Class C, (1-month USD CME Term SOFR + 2.391%) 6.141% <br> 3/15/2039 <sup>(a)(g)(h)</sup>  | 2642 | 2656 |
| Great Wolf Trust, Series 2024-WOLF, Class D, (1-month USD CME Term SOFR + 2.89%) 6.64% <br> 3/15/2039 <sup>(a)(g)(h)</sup>  | 960 | 967 |
| GS Mortgage Securities Trust, Series 2024-70P, Class A, 5.487% 3/10/2041 <sup>(a)(g)(h)</sup>  | 670 | 678 |
| GS Mortgage Securities Trust, Series 2024-70P, Class B, 5.887% 3/10/2041 <sup>(a)(g)(h)</sup>  | 380 | 386 |
| GS Mortgage Securities Trust, Series 2024-70P, Class C, 6.287% 3/10/2041 <sup>(a)(g)(h)</sup>  | 1885 | 1900 |
| GS Mortgage Securities Trust, Series 2024-70P, Class D, 7.531% 3/10/2041 <sup>(a)(g)(h)</sup>  | 2897 | 2969 |
| GS Mortgage Securities Trust, Series 2019-GC40, Class C, 3.946% 7/10/2052 <sup>(g)</sup>  | 900 | 758 |
| GS Mortgage Securities Trust, Series 2020-GSA2, Class C, 2.989% 12/12/2053 <sup>(g)</sup>  | 2950 | 2371 |
| Hawaii Hotel Trust, Series 2025-MAUI, Class C, (1-month USD CME Term SOFR + 2.042%) 5.792% <br> 3/15/2042 <sup>(a)(g)(h)</sup>  | 281 | 282 |
| Hawaii Hotel Trust, Series 2025-MAUI, Class D, (1-month USD CME Term SOFR + 2.591%) 6.341% <br> 3/15/2042 <sup>(a)(g)(h)</sup>  | 1630 | 1640 |
| Hawaii Hotel Trust, Series 2025-MAUI, Class E, (1-month USD CME Term SOFR + 3.29%) 7.04% <br> 3/15/2042 <sup>(a)(g)(h)</sup>  | 2938 | 2885 |
| Hilton USA Trust, Series 2024-ORL, Class B, (1-month USD CME Term SOFR + 1.941%) 5.691% <br> 5/15/2037 <sup>(a)(g)(h)</sup>  | 2000 | 2007 |
| Hilton USA Trust, Series 2024-ORL, Class C, (1-month USD CME Term SOFR + 2.44%) 6.19% 5/15/2037 <sup>(a)(g)(h)</sup>  | 2324 | 2334 |
| Houston Galleria Mall Trust, Series 2025-HGLR, Class A, 5.462% 2/5/2045 <sup>(a)(g)(h)</sup>  | 1076 | 1117 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **260** |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities (continued)** |  |  |
| HTL Commercial Mortgage Trust, Series 2024-T53, Class C, 7.088% 5/10/2039 <sup>(a)(g)(h)</sup>  | USD<br> 945<br>| $961 |
| HTL Commercial Mortgage Trust, Series 2024-T53, Class D, 8.198% 5/10/2039 <sup>(a)(g)(h)</sup>  | 2026 | 2074 |
| Hudson Yards Mortgage Trust, Series 2025-SPRL, Class E, 6.678% 1/13/2040 <sup>(a)(g)(h)</sup>  | 7070 | 7348 |
| INTOWN Mortgage Trust, Series 2025-STAY, Class C, (1-month USD CME Term SOFR + 2.25%) 6.00% <br> 3/15/2042 <sup>(a)(g)(h)</sup>  | 6000 | 6020 |
| INTOWN Mortgage Trust, Series 2025-STAY, Class D, (1-month USD CME Term SOFR + 2.85%) 6.60% <br> 3/15/2042 <sup>(a)(g)(h)</sup>  | 6000 | 6030 |
| Invitation Homes Trust, Series 2024-SFR1, Class F, 4.50% 9/17/2041 <sup>(a)(g)</sup>  | 3572 | 3385 |
| Invitation Homes Trust, Series 2024-SFR1, Class E, 4.50% 9/17/2041 <sup>(a)(g)</sup>  | 2034 | 1962 |
| JW Commercial Mortgage Trust 2024-MRCO, Series 2024-BERY, Class A, (1-month USD CME Term SOFR + <br> 1.593%) 5.343% 11/15/2039 <sup>(a)(g)(h)</sup>  | 1381 | 1385 |
| JW Commercial Mortgage Trust 2024-MRCO, Series 2024-BERY, Class B, (1-month USD CME Term SOFR + <br> 1.942%) 5.692% 11/15/2039 <sup>(a)(g)(h)</sup>  | 2500 | 2510 |
| JW Commercial Mortgage Trust 2024-MRCO, Series 2024-BERY, Class C, (1-month USD CME Term SOFR + <br> 2.242%) 5.992% 11/15/2039 <sup>(a)(g)(h)</sup>  | 942 | 948 |
| KSL Commercial Mortgage Trust, Series 2024-HT2, Class D, (1-month USD CME Term SOFR + 3.29%) 7.04% <br> 12/15/2039 <sup>(a)(g)(h)</sup>  | 3884 | 3881 |
| KSL Commercial Mortgage Trust, Series 2024-HT2, Class E, (1-month USD CME Term SOFR + 4.538%) 8.288% <br> 12/15/2039 <sup>(a)(g)(h)</sup>  | 4855 | 4878 |
| LV Trust, Series 2024-SHOW, Class C, 6.074% 10/10/2041 <sup>(a)(g)(h)</sup>  | 1619 | 1634 |
| Manhattan West, Series 2020-1MW, Class C, 2.413% 9/10/2039 <sup>(a)(g)(h)</sup>  | 2942 | 2821 |
| Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C22, Class AS, 3.561% 4/15/2048 <sup>(g)</sup>  | 483 | 469 |
| Morgan Stanley Bank of America Merrill Lynch Trust, Series 2025-5C2, Class C, 5.743% 11/15/2058 <sup>(g)(h)</sup>  | 633 | 631 |
| MSWF Commercial Mortgage Trust, Series 2023-1, Class B, 6.683% 5/15/2033 <sup>(g)(h)</sup>  | 410 | 437 |
| Multifamily Connecticut Avenue Securities, Series 2020-1, Class M10, (30-day Average USD-SOFR + 3.864%) <br> 7.739% 3/25/2050 <sup>(a)(g)(h)</sup>  | 1161 | 1187 |
| Multifamily Connecticut Avenue Securities, Series 2023-01, Class M7, (30-day Average USD-SOFR + 4.00%) <br> 7.874% 11/25/2053 <sup>(a)(g)(h)</sup>  | 1474 | 1521 |
| Multifamily Connecticut Avenue Securities, Series 2023-01, Class M10, (30-day Average USD-SOFR + 6.50%) <br> 10.374% 11/25/2053 <sup>(a)(g)(h)</sup>  | 4882 | 5567 |
| Multifamily Connecticut Avenue Securities, Series 2025-01, Class M1, (30-day Average USD-SOFR + 2.40%) <br> 6.274% 5/25/2055 <sup>(a)(g)(h)</sup>  | 4964 | 4991 |
| Multifamily Connecticut Avenue Securities, Series 2025-01, Class M2, (30-day Average USD-SOFR + 3.10%) <br> 6.974% 5/25/2055 <sup>(a)(g)(h)</sup>  | 1291 | 1297 |
| NY Commercial Mortgage Trust, Series 2025-299P, Class A, 5.664% 2/10/2047 <sup>(a)(g)(h)</sup>  | 475 | 500 |
| NY Commercial Mortgage Trust, Series 2025-299P, Class B, 5.928% 2/10/2047 <sup>(a)(g)(h)</sup>  | 456 | 476 |
| NY Commercial Mortgage Trust, Series 2025-299P, Class C, 6.172% 2/10/2047 <sup>(a)(g)(h)</sup>  | 527 | 545 |
| NYC Commercial Mortgage Trust, Series 2025-28L, Class A, 4.669% 11/5/2038 <sup>(a)(g)(h)</sup>  | 4590 | 4603 |
| NYC Commercial Mortgage Trust, Series 2025-28L, Class B, 5.007% 11/5/2038 <sup>(a)(g)(h)</sup>  | 4664 | 4678 |
| NYC Commercial Mortgage Trust, Series 2025-28L, Class D, 6.213% 11/5/2038 <sup>(a)(g)(h)</sup>  | 6723 | 6773 |
| NYC Commercial Mortgage Trust, Series 2025-3BP, Class C, (1-month USD CME Term SOFR + 1.892%) <br> 5.642% 2/15/2042 <sup>(a)(g)(h)</sup>  | 1329 | 1326 |
| NYC Commercial Mortgage Trust, Series 2025-3BP, Class D, (1-month USD CME Term SOFR + 2.441%) <br> 6.191% 2/15/2042 <sup>(a)(g)(h)</sup>  | 1824 | 1823 |
| SCG Hotel Issuer, Inc., Series 2025-SNIP, Class A, 5.75% 9/15/2042 <sup>(a)(g)(h)</sup>  | 8227 | 8252 |
| SDR Commercial Mortgage Trust, Series 2024-DSNY, Class B, (1-month USD CME Term SOFR + 1.741%) <br> 5.491% 5/15/2039 <sup>(a)(g)(h)</sup>  | 486 | 485 |
| SFO Commerical Mortgage Trust, Series 2021-555, Class A, (1-month USD CME Term SOFR + 1.264%) <br> 5.015% 5/15/2038 (1-month USD CME Term SOFR + 1.514% on 5/15/2026) <sup>(a)(b)(g)</sup>  | 3395 | 3390 |
| SHR Trust, Series 2024-LXRY, Class D, (1-month USD CME Term SOFR + 3.60%) 7.35% 10/15/2041 <sup>(a)(g)(h)</sup>  | 1901 | 1918 |
| StorageMart Commercial Mortgage Trust, Series 2022-MINI, Class D, (1-month USD CME Term SOFR + <br> 1.95%) 5.70% 1/15/2039 <sup>(a)(g)(h)</sup>  | 2000 | 1995 |
| SWCH Commercial Mortgage Trust, Series 2025-DATA, Class D, (1-month USD CME Term SOFR + 2.591%) <br> 6.391% 2/15/2042 <sup>(a)(g)(h)</sup>  | 4894 | 4858 |
| SWCH Commercial Mortgage Trust, Series 2025-DATA, Class E, (1-month USD CME Term SOFR + 3.29%) <br> 7.09% 2/15/2042 <sup>(a)(g)(h)</sup>  | 6182 | 6158 |
| UBS Commercial Mortgage Trust, Series 2017-C1, Class AS, 3.724% 6/15/2050 <sup>(g)</sup>  | 1915 | 1880 |
| UBS Commercial Mortgage Trust, Series 2017-C3, Class C, 4.355% 8/15/2050 <sup>(g)(h)</sup>  | 791 | 744 |
| Wells Fargo Commercial Mortgage Trust, Series 2025-1918, Class A, 5.761% 9/15/2040 <sup>(a)(g)(h)</sup>  | 1658 | 1675 |
| Wells Fargo Commercial Mortgage Trust, Series 2016-C35, Class C, 4.176% 7/15/2048 <sup>(g)(h)</sup>  | 3000 | 2961 |
| Wells Fargo Commercial Mortgage Trust, Series 2018-C46, Class B, 4.633% 8/15/2051 <sup>(g)</sup>  | 967 | 936 |
| Wells Fargo Commercial Mortgage Trust, Series 2024-5C1, Class B, 6.821% 7/15/2057 <sup>(g)(h)</sup>  | 3600 | 3770 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **261** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities (continued)** |  |  |
| Wells Fargo Commercial Mortgage Trust, Series 2024-5C2, Class B, 6.333% 11/15/2057 <sup>(g)(h)</sup>  | USD<br> 903<br>| $940 |
| Wells Fargo Commercial Mortgage Trust, Series 2025-5C4, Class B, 6.394% 5/15/2058 <sup>(g)(h)</sup>  | 1033 | 1086 |
| Wells Fargo Commercial Mortgage Trust, Series 2025-5C5, Class B, 6.219% 7/15/2058 <sup>(g)(h)</sup>  | 1000 | 1038 |
| WMRK Commercial Mortgage Trust, Series 2022-WMRK, Class A, (1-month USD CME Term SOFR + 2.789%) <br> 6.539% 11/15/2027 <sup>(a)(g)(h)</sup>  | 360 | 363 |
| WSTN Trust, Series 2023-MAUI, Class B, 7.018% 7/5/2037 <sup>(a)(g)(h)</sup>  | 260 | 264 |
| WSTN Trust, Series 2023-MAUI, Class C, 7.69% 7/5/2037 <sup>(a)(g)(h)</sup>  | 148 | 150 |
| WSTN Trust, Series 2023-MAUI, Class D, 8.455% 7/5/2037 <sup>(a)(g)(h)</sup>  | 2516 | 2534 |
|  |  | 388310 |
| **Federal agency mortgage-backed obligations 3.09%** |  |  |
| Fannie Mae Pool #DA5999 5.50% 3/1/2054 <sup>(g)</sup>  | 28 | 28 |
| Fannie Mae Pool #MA5354 6.00% 5/1/2054 <sup>(g)</sup>  | 13429 | 13796 |
| Fannie Mae Pool #DB5508 5.50% 6/1/2054 <sup>(g)</sup>  | 132 | 134 |
| Fannie Mae Pool #MA5421 6.00% 7/1/2054 <sup>(g)</sup>  | 14368 | 14761 |
| Fannie Mae Pool #FS8600 6.00% 7/1/2054 <sup>(g)</sup>  | 3342 | 3459 |
| Fannie Mae Pool #FS9839 6.00% 8/1/2054 <sup>(g)</sup>  | 264 | 271 |
| Fannie Mae Pool #DC2313 5.50% 9/1/2054 <sup>(g)</sup>  | 42 | 42 |
| Fannie Mae Pool #DC3465 6.00% 9/1/2054 <sup>(g)</sup>  | 299 | 307 |
| Fannie Mae Pool #DC2987 6.00% 10/1/2054 <sup>(g)</sup>  | 206 | 212 |
| Fannie Mae Pool #MA5531 5.50% 11/1/2054 <sup>(g)</sup>  | 108 | 110 |
| Fannie Mae Pool #FA0287 6.00% 12/1/2054 <sup>(g)</sup>  | 1725 | 1774 |
| Fannie Mae Pool #DD2543 6.00% 2/1/2055 <sup>(g)</sup>  | 498 | 512 |
| Fannie Mae Pool #MA5615 6.00% 2/1/2055 <sup>(g)</sup>  | 145 | 149 |
| Fannie Mae Pool #MA5647 6.00% 3/1/2055 <sup>(g)</sup>  | 47 | 48 |
| Fannie Mae Pool #MA5674 6.00% 4/1/2055 <sup>(g)</sup>  | 1709 | 1756 |
| Fannie Mae Pool #MA5701 6.00% 5/1/2055 <sup>(g)</sup>  | 7002 | 7195 |
| FARM Mortgage Trust, Series 2024-1, Class B, 5.084% 10/1/2053 <sup>(a)(g)(h)</sup>  | 1297 | 1168 |
| Farmer Mac Agricultural Real Estate Trust, Series 2024-2, Class B, 5.591% 8/1/2054 <sup>(a)(g)(h)</sup>  | 911 | 827 |
| Farmer Mac Agricultural Real Estate Trust, Series 2025-1, Class A1, 5.22% 8/1/2055 <sup>(a)(g)(h)</sup>  | 9528 | 9671 |
| Freddie Mac Pool #SD8402 6.00% 2/1/2054 <sup>(g)</sup>  | 242 | 249 |
| Freddie Mac Pool #SD8432 6.00% 5/1/2054 <sup>(g)</sup>  | 890 | 914 |
| Freddie Mac Pool #SD8438 5.50% 6/1/2054 <sup>(g)</sup>  | 30 | 31 |
| Freddie Mac Pool #SD6143 6.00% 7/1/2054 <sup>(g)</sup>  | 4565 | 4690 |
| Freddie Mac Pool #SD6800 6.00% 8/1/2054 <sup>(g)</sup>  | 7901 | 8139 |
| Freddie Mac Pool #SD7274 6.00% 9/1/2054 <sup>(g)</sup>  | 19 | 20 |
| Freddie Mac Pool #SD6585 5.50% 10/1/2054 <sup>(g)</sup>  | 22 | 23 |
| Freddie Mac Pool #SD8495 6.00% 12/1/2054 <sup>(g)</sup>  | 5876 | 6037 |
| Freddie Mac Pool #SD8496 6.00% 1/1/2055 <sup>(g)</sup>  | 206 | 211 |
| Freddie Mac Pool #SD8507 6.00% 2/1/2055 <sup>(g)</sup>  | 6958 | 7149 |
| Freddie Mac Pool #SL0585 5.50% 3/1/2055 <sup>(g)</sup>  | 27 | 28 |
| Freddie Mac Pool #SL0924 6.00% 3/1/2055 <sup>(g)</sup>  | 1342 | 1379 |
| Freddie Mac Pool #QX9674 6.00% 3/1/2055 <sup>(g)</sup>  | 214 | 220 |
| Freddie Mac Pool #SD8525 6.00% 4/1/2055 <sup>(g)</sup>  | 22899 | 23528 |
| Freddie Mac Pool #SD8534 6.00% 5/1/2055 <sup>(g)</sup>  | 5787 | 5946 |
| Freddie Mac Pool #QY8605 6.00% 7/1/2055 <sup>(g)</sup>  | 6247 | 6420 |
|  |  | 121204 |
| **Collateralized mortgage-backed obligations (privately originated) 2.63%** |  |  |
| Cascade Funding Mortgage Trust, Series 2023-HB12, Class M1, 4.25% 4/25/2033 <sup>(a)(g)(h)</sup>  | 224 | 222 |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class M3, 4.00% 8/25/2034 <sup>(a)(g)(h)</sup>  | 971 | 938 |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class M2, 4.00% 8/25/2034 <sup>(a)(g)(h)</sup>  | 637 | 623 |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class M1, 4.00% 8/25/2034 <sup>(a)(g)(h)</sup>  | 545 | 536 |
| Cascade Funding Mortgage Trust, Series 2024-RM5, Class A, 4.00% 10/25/2054 <sup>(a)(g)(h)</sup>  | 1985 | 1949 |
| Connecticut Avenue Securities Trust, Series 2020-R01, Class 1B1, (30-day Average USD-SOFR + 3.364%) <br> 7.239% 1/25/2040 <sup>(a)(g)(h)</sup>  | 4700 | 4789 |
| Connecticut Avenue Securities Trust, Series 2023-R01, Class 1M1, (30-day Average USD-SOFR + 2.40%) <br> 6.274% 12/25/2042 <sup>(a)(g)(h)</sup>  | 579 | 591 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **262** |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Collateralized mortgage-backed obligations (privately originated) (continued)** |  |  |
| Connecticut Avenue Securities Trust, Series 2023-R04, Class 1M2, (30-day Average USD-SOFR + 3.55%) <br> 7.424% 5/25/2043 <sup>(a)(g)(h)</sup>  | USD<br> 285<br>| $299 |
| Finance of America Structured Securities Trust, Series 2025-PC1, Class A1, 4.50% 5/25/2075 <sup>(a)(b)(g)</sup>  | 4688 | 4545 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2025-DNA3, Class A1, (30-day Average <br> USD-SOFR + 0.95%) 4.824% 9/25/2045 <sup>(a)(g)(h)</sup>  | 1469 | 1470 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2018-DNA3, Class B2, (30-day Average <br> USD-SOFR + 7.864%) 11.739% 9/25/2048 <sup>(a)(g)(h)</sup>  | 2500 | 2865 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-HQA1, Class B2, (30-day Average <br> USD-SOFR + 5.214%) 9.089% 1/25/2050 <sup>(a)(g)(h)</sup>  | 2000 | 2225 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA1, Class B2, (30-day Average <br> USD-SOFR + 5.364%) 9.239% 1/25/2050 <sup>(a)(g)(h)</sup>  | 2240 | 2490 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA2, Class B2, (30-day Average <br> USD-SOFR + 4.914%) 8.789% 2/25/2050 <sup>(a)(g)(h)</sup>  | 633 | 699 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-HQA2, Class B2, (30-day Average <br> USD-SOFR + 7.714%) 11.589% 3/25/2050 <sup>(a)(g)(h)</sup>  | 440 | 534 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA4, Class B2, (30-day Average <br> USD-SOFR + 10.114%) 13.989% 8/25/2050 <sup>(a)(g)(h)</sup>  | 6430 | 8583 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-HQA4, Class B2, (30-day Average <br> USD-SOFR + 9.514%) 13.389% 9/25/2050 <sup>(a)(g)(h)</sup>  | 1210 | 1569 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA5, Class B2, (30-day Average <br> USD-SOFR + 11.50%) 15.702% 10/25/2050 <sup>(a)(g)(h)</sup>  | 4680 | 6491 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-HQA5, Class B2, (30-day Average <br> USD-SOFR + 7.40%) 11.274% 11/25/2050 <sup>(a)(g)(h)</sup>  | 1180 | 1445 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA6, Class B2, (30-day Average <br> USD-SOFR + 5.65%) 9.524% 12/25/2050 <sup>(a)(g)(h)</sup>  | 2430 | 2806 |
| GS Mortgage-Backed Securities Trust, Series 2025-RPL3, Class A1, 4.10% 7/25/2065 (5.10% on <br> 6/1/2029) <sup>(a)(b)(g)</sup>  | 4691 | 4592 |
| IRV Trust, Series 2025-200P, Class A, 5.295% 3/14/2047 <sup>(a)(g)(h)</sup>  | 3089 | 3175 |
| IRV Trust, Series 2025-200P, Class B, 5.44% 3/14/2047 <sup>(a)(g)(h)</sup>  | 2750 | 2784 |
| IRV Trust, Series 2025-200P, Class C, 5.73% 3/14/2047 <sup>(a)(g)(h)</sup>  | 3273 | 3331 |
| NRZ Excess Spread Collateralized Notes, Series 2025-FHT1, Class A, 6.545% 3/25/2032 <sup>(a)(b)(g)</sup>  | 6043 | 6113 |
| Progress Residential Trust, Series 2024-SFR1, Class E2, 3.85% 2/17/2041 <sup>(a)(g)</sup>  | 465 | 442 |
| Progress Residential Trust, Series 2024-SFR2, Class E2, 3.65% 4/17/2041 <sup>(a)(g)(h)</sup>  | 449 | 423 |
| Progress Residential Trust, Series 2024-SFR3, Class E2, 4.00% 6/17/2041 <sup>(a)(g)</sup>  | 534 | 507 |
| Progress Residential Trust, Series 2025-SFR1, Class D, 3.65% 2/17/2042 <sup>(a)(g)</sup>  | 1799 | 1696 |
| Progress Residential Trust, Series 2025-SFR3, Class A, 3.39% 7/17/2042 <sup>(a)(g)</sup>  | 3239 | 3090 |
| Progress Residential Trust, Series 2025-SFR6, Class A, 2.378% 9/17/2042 (4.00% on 1/17/2026) <sup>(a)(b)(g)</sup>  | 13393 | 13078 |
| Sequoia Mortgage Trust, Series 2025-HYB1, Class A1A, 5.061% 10/25/2055 <sup>(a)(g)(h)</sup>  | 7347 | 7377 |
| Starwood Mortgage Residential Trust, Series 2024-SFR4, Class C, (1-month USD CME Term SOFR + 2.45%) <br> 6.20% 10/17/2041 <sup>(a)(g)(h)</sup>  | 3333 | 3347 |
| Starwood Mortgage Residential Trust, Series 2024-SFR4, Class D, (1-month USD CME Term SOFR + 2.95%) <br> 6.70% 10/17/2041 <sup>(a)(g)(h)</sup>  | 4571 | 4605 |
| Tricon Residential Trust, Series 2023-SFR1, Class C, 5.10% 7/17/2040 <sup>(a)(g)</sup>  | 100 | 100 |
| Tricon Residential Trust, Series 2023-SFR1, Class E, 7.977% 7/17/2040 <sup>(a)(g)</sup>  | 100 | 102 |
| Tricon Residential Trust, Series 2025-SFR2, Class B, 5.424% 8/17/2044 <sup>(a)(g)</sup>  | 2998 | 3042 |
|  |  | 103473 |
| **Total mortgage-backed obligations** |  | 612987 |
| **Asset-backed obligations 7.77%** | **Asset-backed obligations 7.77%** | **Asset-backed obligations 7.77%** |
| **Auto loan 2.38%** |  |  |
| American Credit Acceptance Receivables Trust, Series 2023-2, Class D, 6.47% 8/13/2029 <sup>(a)(g)</sup>  | 347 | 350 |
| American Credit Acceptance Receivables Trust, Series 2023-1, Class E, 9.79% 12/12/2029 <sup>(a)(g)</sup>  | 3225 | 3303 |
| American Credit Acceptance Receivables Trust, Series 2022-4, Class E, 10.00% 1/14/2030 <sup>(a)(g)</sup>  | 6480 | 6611 |
| American Credit Acceptance Receivables Trust, Series 2023-4, Class E, 9.79% 8/12/2031 <sup>(a)(g)</sup>  | 8071 | 8510 |
| American Credit Acceptance Receivables Trust, Series 2023-3, Class E, 9.54% 10/14/2031 <sup>(a)(g)</sup>  | 8071 | 8419 |
| American Credit Acceptance Receivables Trust, Series 2024-2, Class E, 7.87% 11/12/2031 <sup>(a)(g)</sup>  | 3889 | 3993 |
| American Credit Acceptance Receivables Trust, Series 2024-1, Class E, 7.98% 11/12/2031 <sup>(a)(g)</sup>  | 5980 | 6144 |
| Arivo Acceptance Auto Loan Receivables Trust, Series 2025-1A, Class E, 7.30% 10/15/2032 <sup>(a)(g)</sup>  | 750 | 739 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2022-5, Class B, 7.09% 4/20/2027 <sup>(a)(g)</sup>  | 369 | 370 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-3A, Class B, 6.12% 2/22/2028 <sup>(a)(g)</sup>  | 100 | 102 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **263** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| **Auto loan (continued)** |  |  |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-3A, Class C, 7.05% 2/22/2028 <sup>(a)(g)</sup>  | USD<br> 187<br>| $191 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-4A, Class D, 7.31% 6/20/2029 <sup>(a)(g)</sup>  | 578 | 594 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-6A, Class D, 7.37% 12/20/2029 <sup>(a)(g)</sup>  | 997 | 1025 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-8A, Class D, 7.52% 2/20/2030 <sup>(a)(g)</sup>  | 1541 | 1585 |
| CPS Auto Receivables Trust, Series 2024-A, Class C, 5.74% 4/15/2030 <sup>(a)(g)</sup>  | 100 | 101 |
| CPS Auto Receivables Trust, Series 2024-A, Class D, 6.13% 4/15/2030 <sup>(a)(g)</sup>  | 100 | 102 |
| CPS Auto Receivables Trust, Series 2022-D, Class E, 12.12% 6/17/2030 <sup>(a)(g)</sup>  | 3000 | 3269 |
| CPS Auto Receivables Trust, Series 2024-A, Class E, 8.42% 8/15/2031 <sup>(a)(g)</sup>  | 700 | 730 |
| CPS Auto Receivables Trust, Series 2024-C, Class E, 8.04% 3/15/2032 <sup>(a)(g)</sup>  | 1125 | 1167 |
| CPS Auto Receivables Trust, Series 2025-C, Class E, 6.59% 2/15/2033 <sup>(a)(g)</sup>  | 1852 | 1833 |
| Credit Acceptance Auto Loan Trust, Series 2023-3, Class B, 7.09% 10/17/2033 <sup>(a)(g)</sup>  | 118 | 120 |
| Credit Acceptance Auto Loan Trust, Series 2023-3, Class C, 7.62% 12/15/2033 <sup>(a)(g)</sup>  | 136 | 140 |
| Credit Acceptance Auto Loan Trust, Series 2025-2A, Class C, 5.38% 3/17/2036 <sup>(a)(g)</sup>  | 1751 | 1783 |
| Exeter Automobile Receivables Trust, Series 2023-2A, Class E, 9.75% 11/15/2030 <sup>(a)(g)</sup>  | 2212 | 2416 |
| Exeter Automobile Receivables Trust, Series 2024-4A, Class D, 5.81% 12/16/2030 <sup>(g)</sup>  | 559 | 572 |
| Exeter Automobile Receivables Trust, Series 2023-3A, Class E, 9.98% 1/15/2031 <sup>(a)(g)</sup>  | 1014 | 1101 |
| Exeter Automobile Receivables Trust, Series 2023-4A, Class E, 9.57% 2/18/2031 <sup>(a)(g)</sup>  | 1100 | 1190 |
| Exeter Automobile Receivables Trust, Series 2023-5A, Class E, 9.58% 6/16/2031 <sup>(a)(g)</sup>  | 1351 | 1472 |
| Exeter Automobile Receivables Trust, Series 2024-1, Class E, 7.89% 8/15/2031 <sup>(a)(g)</sup>  | 1170 | 1221 |
| Exeter Automobile Receivables Trust, Series 2025-5A, Class D, 5.16% 3/15/2032 <sup>(g)</sup>  | 2659 | 2680 |
| Ford Credit Floorplan Master Owner Trust, Series 2023-1, Class D, 6.62% 5/15/2028 <sup>(a)(g)</sup>  | 584 | 588 |
| GLS Auto Receivables Trust, Series 2023-3, Class D, 6.44% 5/15/2029 <sup>(a)(g)</sup>  | 68 | 70 |
| GLS Auto Receivables Trust, Series 2024-1, Class D, 5.95% 12/17/2029 <sup>(a)(g)</sup>  | 397 | 404 |
| GLS Auto Receivables Trust, Series 2023-3, Class E, 9.27% 8/15/2030 <sup>(a)(g)</sup>  | 950 | 1015 |
| GLS Auto Receivables Trust, Series 2023-4, Class E, 9.72% 8/15/2030 <sup>(a)(g)</sup>  | 1010 | 1091 |
| GLS Auto Receivables Trust, Series 2024-2, Class E, 7.98% 5/15/2031 <sup>(a)(g)</sup>  | 1170 | 1223 |
| Hertz Vehicle Financing III, LLC, Series 2023-3, Class B, 6.53% 2/25/2028 <sup>(a)(g)</sup>  | 203 | 207 |
| Hertz Vehicle Financing III, LLC, Series 2023-3, Class C, 7.26% 2/25/2028 <sup>(a)(g)</sup>  | 300 | 306 |
| Hertz Vehicle Financing III, LLC, Series 2022-2, Class D, 5.16% 6/26/2028 <sup>(a)(g)</sup>  | 478 | 469 |
| Hertz Vehicle Financing III, LLC, Series 2023-4, Class B, 6.73% 3/25/2030 <sup>(a)(g)</sup>  | 233 | 245 |
| Hertz Vehicle Financing, LLC, Series 2024-1A, Class D, 9.22% 1/25/2029 <sup>(a)(g)</sup>  | 250 | 259 |
| Hertz Vehicle Financing, LLC, Series 2025-1A, Class C, 6.03% 9/25/2029 <sup>(a)(g)</sup>  | 3298 | 3355 |
| Hertz Vehicle Financing, LLC, Series 2025-1A, Class D, 7.98% 9/25/2029 <sup>(a)(g)</sup>  | 1414 | 1435 |
| Hertz Vehicle Financing, LLC, Series 2024-2A, Class D, 9.41% 1/27/2031 <sup>(a)(g)</sup>  | 250 | 265 |
| Hertz Vehicle Financing, LLC, Series 2025-2A, Class C, 6.40% 9/25/2031 <sup>(a)(g)</sup>  | 3831 | 3921 |
| Hertz Vehicle Financing, LLC, Series 2025-2A, Class D, 8.34% 9/25/2031 <sup>(a)(g)</sup>  | 1310 | 1325 |
| Hertz Vehicle Financing, LLC, Series 2025-4A, Class C, 6.48% 12/26/2031 <sup>(a)(g)</sup>  | 453 | 464 |
| LAD Auto Receivables Trust, Series 2023-1, Class C, 6.18% 12/15/2027 <sup>(a)(g)</sup>  | 273 | 274 |
| Prestige Auto Receivables Trust, Series 2023-1, Class D, 6.33% 4/16/2029 <sup>(a)(g)</sup>  | 543 | 542 |
| Prestige Auto Receivables Trust, Series 2024-1, Class E, 7.94% 4/15/2031 <sup>(a)(g)</sup>  | 512 | 479 |
| Research-Driven Pagaya Motor Asset Trust I, Series 2025-4A, Class B, 5.497% 4/25/2034 <sup>(a)(g)</sup>  | 5142 | 5192 |
| Santander Drive Auto Receivables Trust, Series 2022-7, Class C, 6.69% 3/17/2031 <sup>(g)</sup>  | 149 | 152 |
| Santander Drive Auto Receivables Trust, Series 2025-4, Class D, 4.95% 1/15/2032 <sup>(g)</sup>  | 3327 | 3343 |
| Truist Bank Auto Credit-Linked Notes, Series 2025-1, Class B, 4.728% 9/26/2033 <sup>(a)(g)</sup>  | 2159 | 2163 |
| United Auto Credit Securitization Trust, Series 2024-1, Class D, 8.30% 11/12/2029 <sup>(a)(g)</sup>  | 3000 | 3058 |
|  |  | 93678 |
| **Other asset-backed securities 2.22%** |  |  |
| ACHD Trust, Series 2025-DS1, Class A, 5.978% 1/9/2034 <sup>(a)(g)</sup>  | 1228 | 1232 |
| APL Finance, LLC, Series 2025-1A, Class A, 4.81% 3/20/2036 <sup>(a)(g)</sup>  | 707 | 710 |
| Apollo Aviation Securitization Equity Trust, Series 25-1A, Class A, 5.943% 2/16/2050 <sup>(a)(g)</sup>  | 744 | 760 |
| Apollo Aviation Securitization Equity Trust, Series 25-1A, Class A, 6.576% 2/16/2050 <sup>(a)(g)</sup>  | 354 | 359 |
| Blue Owl Asset Leasing Trust, Series 2024-1A, Class C, 6.38% 1/15/2031 <sup>(a)(g)</sup>  | 139 | 142 |
| Castlelake Aircraft Securitization Trust, Series 2025-1A, Class A, 5.783% 2/15/2050 <sup>(a)(g)</sup>  | 1201 | 1222 |
| Castlelake Aircraft Securitization Trust, Series 2025-3A, Class A, 5.087% 11/15/2050 <sup>(a)(g)</sup>  | 4037 | 4056 |
| CCG Receivables Trust, Series 2025-1, Class D, 5.28% 10/14/2032 <sup>(a)(g)</sup>  | 160 | 162 |
| CFG Investments, Ltd., Series 2025-1, Class A, 6.47% 3/25/2036 <sup>(a)(g)</sup>  | 4839 | 4922 |
| CFG Investments, Ltd., Series 2025-1, Class B, 9.16% 3/25/2036 <sup>(a)(g)</sup>  | 477 | 488 |
| CFG Investments, Ltd., Series 2025-1, Class C, 12.72% 3/25/2036 <sup>(a)(g)</sup>  | 400 | 417 |
| Commercial Equipment Finance, Series 2025-1A, Class A, 4.83% 5/15/2031 <sup>(a)(g)</sup>  | 3315 | 3332 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **264** |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| **Other asset-backed securities (continued)** |  |  |
| Crockett Partners Equipment Co. II, LLC, Series 2024-1C, Class A, 6.05% 1/20/2031 <sup>(a)(g)</sup>  | USD<br> 486<br>| $495 |
| EquipmentShare, Series 2024-2M, Class B, 6.43% 12/20/2032 <sup>(a)(g)</sup>  | 1618 | 1627 |
| EquipmentShare, Series 2025-1M, Class A, 5.48% 9/26/2033 <sup>(a)(g)</sup>  | 4883 | 4920 |
| EquipmentShare, Series 2025-1M, Class B, 6.31% 9/26/2033 <sup>(a)(g)</sup>  | 1105 | 1111 |
| GGAM Master Trust International, Ltd., Series 2025-1A, Class A, 5.923% 9/30/2060 <sup>(a)(g)</sup>  | 3361 | 3390 |
| Global SC Finance SRL, Series 2025-1H, Class A, 6.169% 9/20/2045 <sup>(a)(g)</sup>  | 4249 | 4260 |
| Global SC Finance SRL, Series 2025-1H, Class B, 7.848% 9/20/2045 <sup>(a)(g)</sup>  | 6835 | 6854 |
| MMP Capital, Series 2025-A, Class B, 5.72% 12/15/2031 <sup>(a)(g)</sup>  | 830 | 848 |
| New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 10/20/2061 <sup>(a)(g)</sup>  | 201 | 168 |
| New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class B1, 2.41% 10/20/2061 <sup>(a)(g)</sup>  | 3473 | 2183 |
| OWN Equipment Fund III, Series 2025-2M, Class A, 5.42% 3/27/2034 <sup>(a)(g)</sup>  | 17287 | 17402 |
| OWN Equipment Fund III, Series 2025-2M, Class B, 6.49% 3/27/2034 <sup>(a)(g)</sup>  | 913 | 916 |
| OWN Equipment Fund III, Series 2025-2M, Class C, 8.77% 3/27/2034 <sup>(a)(g)</sup>  | 598 | 600 |
| PK ALIFT Loan Funding, Series 2025-2, Class A, 4.75% 3/15/2043 <sup>(a)(g)</sup>  | 527 | 529 |
| SCF Equipment Trust, LLC, Series 2025-1A, Class D, 5.88% 11/20/2035 <sup>(a)(g)</sup>  | 433 | 449 |
| SCF Equipment Trust, LLC, Series 2025-2A, Class B, 4.51% 6/20/2036 <sup>(a)(g)</sup>  | 5167 | 5195 |
| SCF Equipment Trust, LLC, Series 2025-2A, Class C, 4.82% 6/20/2036 <sup>(a)(g)</sup>  | 2410 | 2429 |
| SCF Equipment Trust, LLC, Series 2025-2A, Class D, 5.33% 6/20/2036 <sup>(a)(g)</sup>  | 573 | 578 |
| SCF Equipment Trust, LLC, Series 2025-2A, Class E, 6.21% 6/20/2036 <sup>(a)(g)</sup>  | 1444 | 1448 |
| Textainer Marine Containers, Ltd., Series 2025-1H, Class A, 6.43% 7/23/2050 <sup>(a)(g)</sup>  | 2493 | 2508 |
| Textainer Marine Containers, Ltd., Series 2025-1H, Class B, 8.06% 7/23/2050 <sup>(a)(g)</sup>  | 4651 | 4677 |
| VFI ABS, LLC, Series 2025-1A, Class A, 4.78% 6/24/2030 <sup>(a)(g)</sup>  | 681 | 684 |
| Wingspire Equipment Finance, LLC, Series 2025-1A, Class A2, 4.33% 9/20/2033 <sup>(a)(g)</sup>  | 360 | 361 |
| Wingspire Equipment Finance, LLC, Series 2025-1A, Class C, 4.76% 9/20/2033 <sup>(a)(g)</sup>  | 533 | 535 |
| Wingspire Equipment Finance, LLC, Series 2025-1A, Class D, 5.45% 9/20/2033 <sup>(a)(g)</sup>  | 1042 | 1050 |
| Zayo Issuer, LLC, Series 2025-2A, Class A2, 5.953% 6/20/2055 <sup>(a)(g)</sup>  | 2000 | 2054 |
| Zayo Issuer, LLC, Series 2025-2A, Class B, 6.586% 6/20/2055 <sup>(a)(g)</sup>  | 2000 | 2066 |
|  |  | 87139 |
| **Credit card 1.33%** |  |  |
| Avant Credit Card Master Trust, Series 2024-2A, Class D, 8.98% 5/15/2029 <sup>(a)(g)</sup>  | 5000 | 5051 |
| Avant Credit Card Master Trust, Series 2024-2A, Class E, 13.41% 5/15/2029 <sup>(a)(g)</sup>  | 4750 | 4845 |
| Evergreen Credit Card Trust, Series 2025-CRT5, Class B, 5.24% 5/15/2029 <sup>(a)(g)</sup>  | 246 | 249 |
| Evergreen Credit Card Trust, Series 2025-CRT5, Class C, 5.53% 5/15/2029 <sup>(a)(g)</sup>  | 172 | 174 |
| Imprint Payments Credit Card Master Trust, Series 2025-A, Class B, 5.24% 9/15/2029 <sup>(a)(g)</sup>  | 479 | 480 |
| Imprint Payments Credit Card Master Trust, Series 2025-A, Class C, 5.48% 9/15/2029 <sup>(a)(g)</sup>  | 372 | 373 |
| Imprint Payments Credit Card Master Trust, Series 2025-A, Class D, 5.82% 9/15/2029 <sup>(a)(g)</sup>  | 448 | 449 |
| Mission Lane Credit Card Master Trust, Series 2024-A, Class D, 10.12% 8/15/2029 <sup>(a)(g)</sup>  | 4000 | 4038 |
| Mission Lane Credit Card Master Trust, Series 2024-A, Class E, 13.69% 8/15/2029 <sup>(a)(g)</sup>  | 5000 | 5057 |
| Mission Lane Credit Card Master Trust, Series 2025-A, Class D, 8.89% 5/15/2030 <sup>(a)(g)</sup>  | 4000 | 4021 |
| Mission Lane Credit Card Master Trust, Series 2025-C, Class A, 4.78% 12/16/2030 <sup>(a)(g)</sup>  | 1271 | 1278 |
| Mission Lane Credit Card Master Trust, Series 2025-C, Class C, 5.37% 12/16/2030 <sup>(a)(g)</sup>  | 1801 | 1808 |
| Mission Lane Credit Card Master Trust, Series 2025-C, Class D, 5.71% 12/16/2030 <sup>(a)(g)</sup>  | 1209 | 1210 |
| Mission Lane Credit Card Master Trust, Series 2025-C, Class E, 7.66% 12/16/2030 <sup>(a)(g)</sup>  | 6592 | 6602 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class A, 5.06% 9/15/2031 <sup>(a)(g)</sup>  | 8583 | 8649 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class B, 5.21% 9/15/2031 <sup>(a)(g)</sup>  | 1326 | 1337 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class C, 5.41% 9/15/2031 <sup>(a)(g)</sup>  | 854 | 859 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class D, 5.80% 9/15/2031 <sup>(a)(g)</sup>  | 953 | 954 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class F, 11.21% 9/15/2031 <sup>(a)(g)</sup>  | 5000 | 5055 |
|  |  | 52489 |
| **Collateralized loan obligations 1.32%** |  |  |
| ARES CLO, Ltd., Series 2022-65A, Class CR, (3-month USD CME Term SOFR + 1.85%) 5.708% <br> 7/25/2034 <sup>(a)(g)(h)</sup>  | 3636 | 3640 |
| Babson CLO, Ltd., Series 2021-1, Class D, (3-month USD CME Term SOFR + 3.162%) 7.02% 4/25/2034 <sup>(a)(g)(h)</sup>  | 1000 | 1001 |
| Battalion CLO, Ltd., Series 2018-12A, Class DRR, (3-month USD CME Term SOFR + 2.60%) 6.452% <br> 5/17/2031 <sup>(a)(g)(h)</sup>  | 6944 | 6914 |
| Canyon Capital CLO, Ltd., Series 2021-4A, Class CR, (3-month USD CME Term SOFR + 1.80%) 5.705% <br> 10/15/2034 <sup>(a)(g)(h)</sup>  | 2659 | 2665 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **265** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| **Collateralized loan obligations (continued)** |  |  |
| Fortress Credit BSL, Ltd., CLO, Series 2019-2A, Class DR, (3-month USD CME Term SOFR + 2.85%) 6.734% <br> 10/20/2032 <sup>(a)(g)(h)</sup>  | USD<br> 2,820<br>| $2819 |
| Fortress Credit BSL, Ltd., CLO, Series 2020-1A, Class BR, (3-month USD CME Term SOFR + 1.70%) 5.628% <br> 10/20/2033 <sup>(a)(g)(h)</sup>  | 5169 | 5173 |
| Fortress Credit BSL, Ltd., CLO, Series 2023-1A, Class BR, (3-month USD CME Term SOFR + 1.85%) 5.71% <br> 4/23/2036 <sup>(a)(g)(h)</sup>  | 3318 | 3325 |
| Golub Capital Private Credit Fund CLO, Series 2025-BSL1A, Class C, (3-month USD CME Term SOFR + 1.70%) <br> 5.401% 1/20/2034 <sup>(a)(g)(h)</sup>  | 3163 | 3165 |
| Ocean Trails CLO, Series 2021-11A, Class DR, (3-month USD CME Term SOFR + 3.10%) 6.984% <br> 7/20/2034 <sup>(a)(g)(h)</sup>  | 3000 | 2970 |
| Palmer Square Loan Funding, Ltd., Series 2024-2A, Class C, (3-month USD CME Term SOFR + 2.50%) 6.405% <br> 1/15/2033 <sup>(a)(g)(h)</sup>  | 1608 | 1610 |
| Steele Creek CLO, Ltd., Series 2019-2A, Class CRR, (3-month USD CME Term SOFR + 1.80%) 5.705% <br> 7/15/2032 <sup>(a)(g)(h)</sup>  | 2846 | 2837 |
| Steele Creek CLO, Ltd., Series 2019-2A, Class DR, (3-month USD CME Term SOFR + 2.80%) 6.705% <br> 7/15/2032 <sup>(a)(g)(h)</sup>  | 2230 | 2191 |
| Trinitas CLO, Ltd., Series 2020-12A, Class B1R2, (3-month USD CME Term SOFR + 1.55%) 5.792% <br> 4/25/2033 <sup>(a)(g)(h)</sup>  | 2636 | 2638 |
| Trinitas CLO, Ltd., Series 2020-12A, Class CR2, (3-month USD CME Term SOFR + 1.80%) 5.658% <br> 4/25/2033 <sup>(a)(g)(h)</sup>  | 1090 | 1091 |
| Trinitas CLO, Ltd., Series 2021-17A, Class B1R, (3-month USD CME Term SOFR + 1.65%) 5.534% <br> 10/20/2034 <sup>(a)(g)(h)</sup>  | 7133 | 7144 |
| Vibrant CLO, Ltd., Series 2021-12A, Class BRR, (3-month USD CME Term SOFR + 1.95%) 5.834% <br> 4/20/2034 <sup>(a)(g)(h)</sup>  | 2239 | 2241 |
| Vibrant CLO, Ltd., Series 2018-9RA, Class C1, (3-month USD CME Term SOFR + 1.82%) 5.704% <br> 4/20/2037 <sup>(a)(g)(h)</sup>  | 471 | 471 |
|  |  | 51895 |
| **Student loan 0.49%** |  |  |
| Navient Education Loan Trust, Series 2025-A, Class C, 5.53% 7/15/2055 <sup>(a)(g)</sup>  | 1083 | 1096 |
| Navient Education Loan Trust, Series 2025-A, Class D, 6.03% 7/15/2055 <sup>(a)(g)</sup>  | 859 | 866 |
| SMB Private Education Loan Trust, Series 2021-A, Class D1, 3.86% 1/15/2053 <sup>(a)(g)</sup>  | 213 | 195 |
| SMB Private Education Loan Trust, Series 2021-A, Class D2, 3.86% 1/15/2053 <sup>(a)(g)</sup>  | 102 | 93 |
| SMB Private Education Loan Trust, Series 2023-A, Class B, 5.88% 1/15/2053 <sup>(a)(g)</sup>  | 415 | 425 |
| SMB Private Education Loan Trust, Series 2025-B, Class C, 5.49% 3/17/2053 <sup>(a)(g)</sup>  | 1202 | 1207 |
| SMB Private Education Loan Trust, Series 2025-B, Class D, 6.63% 3/17/2053 <sup>(a)(g)</sup>  | 1246 | 1278 |
| SMB Private Education Loan Trust, Series 2025-A, Class A1A, 5.13% 4/15/2054 <sup>(a)(g)</sup>  | 7496 | 7615 |
| SMB Private Education Loan Trust, Series 2024-A, Class D, 8.22% 3/15/2056 <sup>(a)(g)</sup>  | 4935 | 5330 |
| SMB Private Education Loan Trust, Series 2023-B, Class D, 7.56% 10/16/2056 <sup>(a)(g)</sup>  | 1000 | 1041 |
|  |  | 19146 |
| **Collateralized mortgage-backed obligations (privately originated) 0.03%** |  |  |
| JP Morgan Mortgage Trust, Series 2024-CES1, Class A3, 6.397% 6/25/2054 (7.397% on 3/1/2028) <sup>(a)(b)(g)</sup>  | 564 | 571 |
| JP Morgan Mortgage Trust, Series 2024-CES1, Class M1, 6.596% 6/25/2054 (7.596% on 3/1/2028) <sup>(a)(b)(g)</sup>  | 458 | 463 |
|  |  | 1034 |
| **Total asset-backed obligations** |  | 305381 |
| **Loans 1.29%** | **Loans 1.29%** | **Loans 1.29%** |
| **Information technology 0.34%** |  |  |
| Commscope, LLC, Term Loan, (3-month USD CME Term SOFR + 4.75%) 8.466% 12/17/2029 <sup>(h)(i)</sup>  | 2575 | 2584 |
| Finastra USA, Inc., Term Loan B, (3-month USD CME Term SOFR + 7.25%) 10.973% 9/13/2029 <sup>(f)(h)(i)</sup>  | 75 | 75 |
| Finastra USA, Inc., Term Loan, (1-month USD CME Term SOFR + 4.00%) 7.688% 7/30/2032 <sup>(h)(i)</sup>  | 4355 | 4270 |
| Kaseya, Inc., Term Loan, (3-month USD CME Term SOFR + 5.00%) 8.716% 3/20/2033 <sup>(h)(i)</sup>  | 1700 | 1666 |
| Viasat, Inc., Term Loan B, (1-month USD CME Term SOFR + 4.614%) 8.331% 3/2/2029 <sup>(h)(i)</sup>  | 1506 | 1504 |
| Viasat, Inc., Term Loan B, (3-month USD CME Term SOFR + 4.50%) 8.348% 5/30/2030 <sup>(h)(i)</sup>  | 3342 | 3335 |
|  |  | 13434 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **266** |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Loans (continued)** | **Loans (continued)** | **Loans (continued)** |
| **Industrials 0.29%** |  |  |
| Peraton Corp., Term Loan B, (3-month USD CME Term SOFR + 3.85%) 7.69% 2/1/2028 <sup>(h)(i)</sup>  | USD<br> 12,086<br>| $11242 |
| **Communication services 0.27%** |  |  |
| Connect Finco SARL, Term Loan B, (1-month USD CME Term SOFR + 4.50%) 8.216% 9/27/2029 <sup>(h)(i)</sup>  | 1094 | 1095 |
| Gray Television, Inc., Term Loan B, (3-month USD CME Term SOFR + 5.25%) 9.123% 6/4/2029 <sup>(h)(i)</sup>  | 8 | 8 |
| Gray Television, Inc., Term Loan D, (3-month USD CME Term SOFR + 3.114%) 6.987% 12/1/2028 <sup>(h)(i)</sup>  | 3535 | 3544 |
| Versant Media Group, Inc., Term Loan B, (1-month USD CME Term SOFR + 3.50%) 7.537% 10/23/2030 <sup>(h)(i)</sup>  | 1080 | 1082 |
| X Corp., Term Loan B, (USD-SOFR + 6.75%) 10.448% 10/26/2029 <sup>(h)(i)</sup>  | 3999 | 3936 |
| X Corp., Term Loan B3, 9.50% 10/26/2029 <sup>(i)</sup>  | 1000 | 998 |
|  |  | 10663 |
| **Financials 0.15%** |  |  |
| Alera Group Intermediate Holdings, Inc., Term Loan, (3-month USD CME Term SOFR + 5.50%) 9.216% <br> 5/30/2033 <sup>(h)(i)</sup>  | 2130 | 2174 |
| HUB International, Ltd., Term Loan, (3-month USD CME Term SOFR + 2.25%) 6.12% 6/20/2030 <sup>(h)(i)</sup>  | 41 | 41 |
| Osaic Holdings, Inc., Term Loan, (3-month USD CME Term SOFR + 3.00%) 6.595% 7/30/2032 <sup>(h)(i)</sup>  | 2750 | 2766 |
| Truist Insurance Holdings, LLC, Term Loan, (3-month USD CME Term SOFR + 4.75%) 8.422% 5/6/2032 <sup>(h)(i)</sup>  | 811 | 823 |
|  |  | 5804 |
| **Health care 0.15%** |  |  |
| Endo Finance Holdings, Inc., Term Loan B, (3-month USD CME Term SOFR + 3.75%) 7.466% 4/23/2031 <sup>(h)(i)</sup>  | 913 | 908 |
| Owens & Minor, Inc., Term Loan B-1, (3-month USD CME Term SOFR + 3.85%) 7.566% 3/29/2029 <sup>(h)(i)</sup>  | 5009 | 4846 |
|  |  | 5754 |
| **Consumer discretionary 0.04%** |  |  |
| Aimbridge Acquisition Co., Inc., Term Loan, (1-month USD CME Term SOFR + 5.614%) 9.35% <br> 3/11/2030 <sup>(e)(h)(i)</sup>  | 204 | 204 |
| Aimbridge Acquisition Co., Inc., Term Loan, (1-month USD CME Term SOFR + 7.614%) 6.00% PIK and 5.573% <br> Cash 3/11/2030 <sup>(d)(e)(h)(i)</sup>  | 193 | 193 |
| Hertz Corp. (The), Term Loan B-EXIT, (3-month USD CME Term SOFR + 3.614%) 7.331% 6/30/2028 <sup>(h)(i)</sup>  | 412 | 350 |
| Hertz Corp. (The), Term Loan C-EXIT, (3-month USD CME Term SOFR + 3.614%) 7.53% 6/30/2028 <sup>(h)(i)</sup>  | 81 | 68 |
| Voyager Parent, LLC, Term Loan B, (3-month USD CME Term SOFR + 4.75%) 8.422% 7/1/2032 <sup>(h)(i)</sup>  | 798 | 799 |
|  |  | 1614 |
| **Consumer staples 0.04%** |  |  |
| Fiesta Purchaser, Inc., Term Loan B, (1-month USD CME Term SOFR + 2.75%) 6.466% 2/12/2031 <sup>(h)(i)</sup>  | 231 | 232 |
| United Natural Foods, Inc., Term Loan B, (3-month USD CME Term SOFR + 4.75%) 8.466% 5/1/2031 <sup>(h)(i)</sup>  | 1177 | 1186 |
|  |  | 1418 |
| **Utilities 0.01%** |  |  |
| MI Windows and Doors, LLC, Term Loan B3, (3-month USD CME Term SOFR + 2.75%) 6.466% 3/28/2031 <sup>(h)(i)</sup>  | 231 | 232 |
| Talen Energy Supply, LLC, Term Loan B, (3-month USD CME Term SOFR + 2.50%) 6.353% 5/17/2030 <sup>(h)(i)</sup>  | 63 | 64 |
| Talen Energy Supply, LLC, Term Loan B, (3-month USD CME Term SOFR + 2.00%) 5.672% 11/25/2032 <sup>(h)(i)</sup>  | 330 | 331 |
|  |  | 627 |
| **Materials 0.00%** |  |  |
| Venator Material, LLC, Term Loan, (3-month USD CME Term SOFR + 2.00%) 7.00% PIK 7/16/2026 <sup>(c)(d)(e)(h)(i)</sup>  | 10 | 3 |
| Venator Material, LLC, Term Loan, (3-month USD CME Term SOFR + 8.00%) 7.00% PIK 7/16/2026 <sup>(c)(d)(e)(h)(i)</sup>  | 10 | 3 |
| Venator Material, LLC, Term Loan, (USD-SOFR + 10.00%) 7.00% PIK 10/12/2028 <sup>(c)(d)(e)(h)(i)</sup>  | 16 | 5 |
|  |  | 11 |
| **Total loans** |  | 50567 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **267** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. Treasury bonds & notes 1.24%** | **U.S. Treasury bonds & notes 1.24%** | **U.S. Treasury bonds & notes 1.24%** |
| **U.S. Treasury 1.24%** |  |  |
| U.S. Treasury 3.375% 11/30/2027  | USD<br> 10,000<br>| $9981 |
| U.S. Treasury 4.00% 5/31/2030  | 3602 | 3649 |
| U.S. Treasury 3.50% 11/30/2030 <sup>(j)</sup>  | 20000 | 19804 |
| U.S. Treasury 3.75% 11/30/2032  | 9500 | 9395 |
| U.S. Treasury 4.00% 11/15/2035 <sup>(j)</sup>  | 6000 | 5918 |
|  |  | 48747 |
| **Total U.S. Treasury bonds & notes** |  | 48747 |
| **Municipals 0.05%** | **Municipals 0.05%** | **Municipals 0.05%** |
| **California 0.01%** |  |  |
| City of Rancho Mirage, Community Facs. Dist. No. 5 (Improvement Area No. 1), Special Tax Bonds, Series <br> 2024-B, 7.25% 9/1/2039  | 430 | 438 |
| **Puerto Rico 0.04%** |  |  |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2017 <sup>(c)</sup>  | 5 | 3 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 4.25% 7/1/2018 <sup>(c)</sup>  | 10 | 7 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 5.00% 7/1/2018 <sup>(c)</sup>  | 45 | 30 |
| Electric Power Auth., Power Rev. Bonds, Series 2003-NN, 5.50% 7/1/2020 <sup>(c)</sup>  | 5 | 3 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2021 <sup>(c)</sup>  | 95 | 64 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-AAA, 5.25% 7/1/2021 <sup>(c)</sup>  | 135 | 90 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-DDD, 5.00% 7/1/2023 <sup>(c)</sup>  | 110 | 74 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2023 <sup>(c)</sup>  | 10 | 7 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-CCC, 5.00% 7/1/2024 <sup>(c)</sup>  | 35 | 23 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-XX, 4.625% 7/1/2025 <sup>(c)</sup>  | 5 | 3 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-XX, 4.75% 7/1/2026 <sup>(c)</sup>  | 5 | 3 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 5.00% 7/1/2026 <sup>(c)</sup>  | 5 | 3 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-CCC, 5.25% 7/1/2026 <sup>(c)</sup>  | 10 | 7 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 5.25% 7/1/2026 <sup>(c)</sup>  | 195 | 131 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 4.75% 7/1/2027 <sup>(c)</sup>  | 30 | 20 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-CCC, 4.80% 7/1/2028 <sup>(c)</sup>  | 110 | 74 |
| Electric Power Auth., Power Rev. Bonds, Series 2008-WW, 5.00% 7/1/2028 <sup>(c)</sup>  | 30 | 20 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2032 <sup>(c)</sup>  | 80 | 54 |
| Electric Power Auth., Power Rev. Bonds, Series 2008-WW, 5.25% 7/1/2033 <sup>(c)</sup>  | 310 | 208 |
| Electric Power Auth., Power Rev. Bonds, Series 2013-A, 6.75% 7/1/2036 <sup>(c)</sup>  | 160 | 107 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2037 <sup>(c)</sup>  | 30 | 20 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-XX, 5.25% 7/1/2040 <sup>(c)</sup>  | 175 | 117 |
| Electric Power Auth., Power Rev. Bonds, Series 2012-A, 5.00% 7/1/2042 <sup>(c)</sup>  | 45 | 30 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2007-UU, AGI, 3.469% 7/1/2017 <sup>(b)(c)</sup>  | 130 | 87 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2010-DDD, 5.00% 7/1/2021 <sup>(c)</sup>  | 35 | 23 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2010-DDD, 5.00% 7/1/2022 <sup>(c)</sup>  | 325 | 217 |
|  |  | 1425 |
| **Texas 0.00%** |  |  |
| Brazoria County Industrial Dev. Corp., Solid Waste Disposal Facs. Rev. Bonds (Aleon Renewable Metals, LLC <br> Project), Series 2023, AMT, 12.00% 6/1/2043 <sup>(a)(c)</sup>  | 187 | 19 |
| **Total municipals** |  | 1882 |
| **Total bonds, notes & other debt instruments** (cost: $3,747,616,000) |  | 3776027 |
| Convertible bonds & notes 0.13% |  |  |
| **Information technology 0.13%** |  |  |
| Strategy, Inc., 0% 12/1/2029  | 6400 | 5271 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **268** |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

---

| | | |
|:---|:---|:---|
| Common stocks 0.04% | Shares | Value<br> (000)<br>|
| **Consumer discretionary 0.03%** |  |  |
| Aimbridge Topco, LLC <sup>(e)(k)</sup>  | 17246 | $1276 |
| **Information technology 0.01%** |  |  |
| Diebold Nixdorf, Inc. <sup>(k)</sup>  | 3082 | 209 |
| **Materials 0.00%** |  |  |
| Venator Materials PLC <sup>(e)(k)</sup>  | 90 | — <br><sup>(l)</sup><br>|
| **Total common stocks** (cost: $1,912,000) |  | 1485 |
| Short-term securities 2.48% |  |  |
| **Money market investments 2.48%** | **Money market investments 2.48%** | **Money market investments 2.48%** |
| Capital Group Central Cash Fund 3.79% <sup>(m)(n)</sup>  | 972853 | 97295 |
| **Total short-term securities** (cost: $97,273,000) |  | 97295 |
| Options purchased (equity style) 0.01% |  |  |
| Options purchased (equity style)\* |  | 475 |
| **Total options purchased (equity style)** (cost: $759,000) |  | 475 |
| **Total investment securities 98.75%** (cost: $3,853,224,000) |  | 3880553 |
| **Total options written (equity style)**<sup>†</sup> (0.01)% (premium received: $383,000) |  | (251)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Other assets less liabilities 1.26% | 49456 |
| **Net assets 100.00%** | $3929758 |

---

**\*Options purchased (equity style)**

------

**Options on futures** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Call** |  |  |  |  |  |
| 3 Month SOFR Futures Option | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD<br> 96.63<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD<br> 11,150<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $446 |
| 3 Month SOFR Futures Option | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $475 |

---

<sup>†</sup>**Options written (equity style)**

------

**Options on futures** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Call** |  |  |  |  |  |
| 3 Month SOFR Futures Option | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4460)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3/13/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD<br> 96.81<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD<br> (11150)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(251)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **269** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

**Futures contracts**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 2 Year U.S. Treasury Note Futures | Long | 948 | 3/31/2026 | USD197,932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(75)<br>|
| 5 Year U.S. Treasury Note Futures | Long | 188 | 3/31/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10)<br>|
| 10 Year Euro-Bund Futures | Short | 30 | 3/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4497)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 |
| 10 Year U.S. Treasury Note Futures | Short | 501 | 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (56331)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 442 |
| 10 Year Ultra U.S. Treasury Note Futures | Short | 296 | 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (34045)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164 |
| 30 Year U.S. Treasury Bond Futures | Long | 366 | 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (431)<br>|
| 30 Year Ultra U.S. Treasury Bond Futures | Short | 316 | 3/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (37288)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 544 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $669 |

---

**Forward currency contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contract amount | Contract amount | Contract amount | Contract amount | Counterparty | &nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Currency purchased <br>(000) | Currency purchased <br>(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | Counterparty | &nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| USD | 15716 | EUR | 13328 | HSBC Bank | 1/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $35 |

---

**Swap contracts**

------

**Interest rate swaps**

**Centrally cleared interest rate swaps** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | &nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Value at <br>12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp; Expiration <br>date | &nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Value at <br>12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| 4.834% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 10/19/2026 | USD13,500 | &nbsp;&nbsp;&nbsp;&nbsp; $139 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $139 |
| 4.0715% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 11/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 403 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 403 |
| 4.161% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 12/26/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 244 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 244 |
| 3.256% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 10/27/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; (166)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (166)<br>|
| 4.103% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 12/23/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 82000 | &nbsp;&nbsp;&nbsp;&nbsp; 1231 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1231 |
| 4.692% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 9/29/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 16200 | &nbsp;&nbsp;&nbsp;&nbsp; 575 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 575 |
| 4.077% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 12/23/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 83000 | &nbsp;&nbsp;&nbsp;&nbsp; 2105 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2105 |
| 3.491% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 12/11/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 205000 | &nbsp;&nbsp;&nbsp;&nbsp; 319 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 319 |
| 4.0685% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 12/23/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 729 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 729 |
| 4.6415% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 9/29/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 19500 | &nbsp;&nbsp;&nbsp;&nbsp; 1306 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1306 |
| 4.407% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 11/3/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp;&nbsp;&nbsp; 154 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 154 |
| SOFR | Annual | 3.456% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/2/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 803 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 803 |
| SOFR | Annual | 3.5065% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 9/12/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 3087 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 3087 |
| SOFR | Annual | 3.5575% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 10/27/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 2150 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2150 |
| 4.5965% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 11/2/2038 | &nbsp;&nbsp;&nbsp;&nbsp; 2300 | &nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 150 |
| 3.9515% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 11/15/2039 | &nbsp;&nbsp;&nbsp;&nbsp; 22000 | &nbsp;&nbsp;&nbsp;&nbsp; (121)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (121)<br>|
| 4.5595% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 11/2/2043 | &nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 83 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 83 |
| 3.901% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 11/21/2044 | &nbsp;&nbsp;&nbsp;&nbsp; 7200 | &nbsp;&nbsp;&nbsp;&nbsp; (237)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (237)<br>|
| SOFR | Annual | 3.364% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 10700 | &nbsp;&nbsp;&nbsp;&nbsp; 1327 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1327 |
| SOFR | Annual | 3.268% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 5/15/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 750 | &nbsp;&nbsp;&nbsp;&nbsp; 104 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 104 |
| SOFR | Annual | 3.6455% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 10/21/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 16000 | &nbsp;&nbsp;&nbsp;&nbsp; 1318 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1318 |
| SOFR | Annual | 3.6675% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 12/9/2049 | &nbsp;&nbsp;&nbsp;&nbsp; 11000 | &nbsp;&nbsp;&nbsp;&nbsp; 872 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 872 |
| 4.392% | Annual | SOFR | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 9/29/2053 | &nbsp;&nbsp;&nbsp;&nbsp; 4400 | &nbsp;&nbsp;&nbsp;&nbsp; 157 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 157 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **270** |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

**Swap contracts** (continued)

------

**Interest rate swaps** (continued)

**Centrally cleared interest rate swaps** (continued)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | &nbsp;&nbsp;&nbsp; Expiration<br> date | &nbsp;&nbsp;&nbsp; Notional<br> amount<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Value at<br> 12/31/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Upfront<br> premium<br> paid<br> &nbsp;&nbsp;&nbsp;&nbsp;(received)<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 12/31/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment<br> frequency<br>| Rate | &nbsp;&nbsp;&nbsp;&nbsp; Payment<br> frequency<br>| &nbsp;&nbsp;&nbsp; Expiration<br> date | &nbsp;&nbsp;&nbsp; Notional<br> amount<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Value at<br> 12/31/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Upfront<br> premium<br> paid<br> &nbsp;&nbsp;&nbsp;&nbsp;(received)<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp; Unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 12/31/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000) |
| SOFR | Annual | 3.2845% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 1/2/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 11700 | &nbsp;&nbsp;&nbsp;&nbsp; $1732 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1732 |
| SOFR | Annual | 3.5625% | Annual | &nbsp;&nbsp;&nbsp;&nbsp; 12/6/2054 | &nbsp;&nbsp;&nbsp;&nbsp; 4700 | &nbsp;&nbsp;&nbsp;&nbsp; 482 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 482 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $18946 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $18946 |

---

**Credit default swaps**

**Centrally cleared credit default swaps on credit indices — sell protection** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Financing <br>rate received<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <sup>(o)</sup> <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>12/31/2025<sup>(p)</sup> <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 12/31/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 5.00% | Quarterly | CDX.NA.HY.45 | &nbsp;&nbsp;&nbsp;&nbsp; 12/20/2030 | USD81,685 | &nbsp;&nbsp;&nbsp;&nbsp; $6209 | &nbsp;&nbsp;&nbsp;&nbsp; $5881 | &nbsp;&nbsp;&nbsp;&nbsp; $328 |
| 1.00% | Quarterly | CDX.NA.IG.S45 | &nbsp;&nbsp;&nbsp;&nbsp; 12/20/2030 | USD6,642 | &nbsp;&nbsp;&nbsp;&nbsp; 151 | &nbsp;&nbsp;&nbsp;&nbsp; 152 | &nbsp;&nbsp;&nbsp;&nbsp; (1)<br>|
| 1.00% | Quarterly | CDX.NA.IG.S45 | &nbsp;&nbsp;&nbsp;&nbsp; 12/20/2035 | USD149,860 | &nbsp;&nbsp;&nbsp;&nbsp; 1254 | &nbsp;&nbsp;&nbsp;&nbsp; 1125 | &nbsp;&nbsp;&nbsp;&nbsp; 129 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $7614 | &nbsp;&nbsp;&nbsp;&nbsp; $7158 | &nbsp;&nbsp;&nbsp;&nbsp; $456 |

---

**Investments in affiliates** <sup>(n)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>12/31/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 2.48%** | **Short-term securities 2.48%** | **Short-term securities 2.48%** | **Short-term securities 2.48%** | **Short-term securities 2.48%** | **Short-term securities 2.48%** | **Short-term securities 2.48%** | **Short-term securities 2.48%** |
| **Money market investments 2.48%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 3.79% <sup>(m)</sup> | $79452 | &nbsp;&nbsp; $1008863 | &nbsp;&nbsp; $991027 | &nbsp;&nbsp; $(1)<br>| &nbsp;&nbsp; $8 | &nbsp;&nbsp; $97295 | &nbsp;&nbsp; $4235 |

---

**Restricted securities** <sup>(f)</sup>

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| Sasol Financing USA, LLC 8.75% 5/3/2029  | 4/15/2024 - 9/27/2024 | $1644 | $1630 | 0.04<br> %<br>|
| Stillwater Mining Co. 4.00% 11/16/2026  | 2/9/2024 - 8/9/2024 | 986 | 1012 | 0.03 |
| Wolfspeed, Inc. 4.00% PIK and 9.875% Cash 6/23/2030 <sup>(d)</sup> <br>| 6/23/2023 - 9/25/2025 | 775 | 873 | 0.03 |
| Finastra USA, Inc., Term Loan B, (3-month USD CME Term SOFR + <br> 7.25%) 10.973% 9/13/2029 <sup>(h)(i)</sup> <br>| 9/12/2023 | 74 | 75 | 0.00 <br><sup>(q</sup>)<br>|
|  |  | $3479 | $3590 | 0.10<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **271** | Capital Group Fixed Income ETF Trust |

---

------

Capital Group U.S. Multi-Sector Income ETF (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) 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 $2,011,459,000, which represented 51.19% of the net assets of the fund. 

<sup>(b)</sup> Step bond; coupon rate may change at a later date.

<sup>(c)</sup> Scheduled interest and/or principal payment was not received.

<sup>(d)</sup> Payment in kind; the issuer has the option of paying additional securities in lieu of cash. Payment methods and rates are as of the most recent payment when available. 

<sup>(e)</sup> Value determined using significant unobservable inputs.

<sup>(f)</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933.

<sup>(g)</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>(h)</sup> 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. 

<sup>(i)</sup> Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $50,567,000, which represented 1.29% of the net assets of the fund. 

<sup>(j)</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $19,791,000, which represented 0.50% of the net assets of the fund. 

<sup>(k)</sup> Non-income producing.

<sup>(l)</sup> Amount less than one thousand.

<sup>(m)</sup> Rate represents the seven-day yield at 12/31/2025.

<sup>(n)</sup> Affiliate of the fund or part of the same "group of investment companies" as the fund, as defined under the Investment Company Act of 1940, as amended.

<sup>(o)</sup> The maximum potential amount the fund may pay as a protection seller should a credit event occur.

<sup>(p)</sup> The prices and resulting values for credit default swap indices serve as an indicator of the current status of the payment/performance risk. As the value of a sell protection credit default swap increases or decreases, when compared to the notional amount of the swap, the payment/performance risk may decrease or increase, respectively. 

<sup>(q)</sup> Amount less than 0.01%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Key to abbreviation(s)** |
| AGI = Assured Guaranty insured |
| AMT = Alternative Minimum Tax |
| Auth. = Authority |
| CLO = Collateralized Loan Obligations |
| CME = CME Group |
| DAC = Designated Activity Company |
| Dev. = Development |
| Dist. = District |
| EUR = Euros |

---

---

| |
|:---|
| EURIBOR = Euro Interbank Offered Rate |
| Facs. = Facilities |
| ICE = Intercontinental Exchange, Inc. |
| Ref. = Refunding |
| REIT = Real Estate Investment Trust |
| Rev. = Revenue |
| SOFR = Secured Overnight Financing Rate |
| USD = U.S. dollars |
| UST = U.S. Treasury |

---

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **272** |

---

------

Financial statements

**Statements of assets and liabilities** at December 31, 2025(dollars and shares in thousands, except per-share amount)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Core** <br>**Bond** <br>**ETF**<br>| &nbsp;&nbsp; **Core Plus** <br>**Income** <br>**ETF**<br>| &nbsp;&nbsp; **High Yield** <br>**Bond** <br>**ETF**<br>|
| **Assets:** |  |  |  |
| Investment securities, at value: |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; $3523193 | &nbsp;&nbsp;&nbsp; $6364186 | &nbsp;&nbsp;&nbsp; $48378 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 147218 | &nbsp;&nbsp;&nbsp; 333993 | &nbsp;&nbsp;&nbsp; 3942 |
| Cash | &nbsp;&nbsp;&nbsp; 308 | &nbsp;&nbsp;&nbsp; 2558 | &nbsp;&nbsp;&nbsp; 94 |
| Cash collateral pledged for futures contracts | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 88 |
| Cash collateral pledged for forward currency contracts | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Cash collateral pledged for swap contracts | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Cash denominated in currencies other than U.S. dollars | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Unrealized appreciation on open forward currency <br> contracts<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp; — |
| Bilateral swaps, at value | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Receivables for: |  |  |  |
| Sales of investments | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 132539 | &nbsp;&nbsp;&nbsp; 1 |
| Sales of fund's shares | &nbsp;&nbsp;&nbsp; 14310 | &nbsp;&nbsp;&nbsp; 14946 | &nbsp;&nbsp;&nbsp; — |
| Dividends and interest | &nbsp;&nbsp;&nbsp; 30412 | &nbsp;&nbsp;&nbsp; 53524 | &nbsp;&nbsp;&nbsp; 820 |
| Variation margin on futures contracts | &nbsp;&nbsp;&nbsp; 13732 | &nbsp;&nbsp;&nbsp; 17009 | &nbsp;&nbsp;&nbsp; 3 |
| Variation margin on centrally cleared swap contracts | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5478 | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;&nbsp; 3729173 | &nbsp;&nbsp;&nbsp; 6924250 | &nbsp;&nbsp;&nbsp; 53326 |
| **Liabilities:** |  |  |  |
| Cash collateral pledged for forward contracts | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp; — |
| Unrealized depreciation on open forward currency <br> contracts<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Bilateral swaps, at value | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Options written, at value | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Payables for: |  |  |  |
| Purchases of investments | &nbsp;&nbsp;&nbsp; 59655 | &nbsp;&nbsp;&nbsp; 397414 | &nbsp;&nbsp;&nbsp; 122 |
| Investment advisory services | &nbsp;&nbsp;&nbsp; 810 | &nbsp;&nbsp;&nbsp; 1837 | &nbsp;&nbsp;&nbsp; 18 |
| Variation margin on futures contract | &nbsp;&nbsp;&nbsp; 14732 | &nbsp;&nbsp;&nbsp; 17649 | &nbsp;&nbsp;&nbsp; 6 |
| Variation margin on centrally cleared swap contracts | &nbsp;&nbsp;&nbsp; 211 | &nbsp;&nbsp;&nbsp; 5918 | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;&nbsp; 75408 | &nbsp;&nbsp;&nbsp; 422878 | &nbsp;&nbsp;&nbsp; 146 |
| Commitments and contingencies\* |  |  |  |
| **Net assets at December 31, 2025** | &nbsp;&nbsp;&nbsp; $3653765 | &nbsp;&nbsp;&nbsp; $6501372 | &nbsp;&nbsp;&nbsp; $53180 |
| **Net assets consist of:** |  |  |  |
| Capital paid in on shares of beneficial interest | &nbsp;&nbsp;&nbsp; $3629707 | &nbsp;&nbsp;&nbsp; $6496768 | &nbsp;&nbsp;&nbsp; $52527 |
| Total distributable earnings (accumulated loss) | &nbsp;&nbsp;&nbsp; 24058 | &nbsp;&nbsp;&nbsp; 4604 | &nbsp;&nbsp;&nbsp; 653 |
| **Net assets at December 31, 2025** | &nbsp;&nbsp;&nbsp; $3653765 | &nbsp;&nbsp;&nbsp; $6501372 | &nbsp;&nbsp;&nbsp; $53180 |
| Shares of beneficial interest issued and outstanding <br>(no stated par value) — unlimited shares authorized<br>|  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp; $3653765 | &nbsp;&nbsp;&nbsp; $6501372 | &nbsp;&nbsp;&nbsp; $53180 |
| Shares outstanding | &nbsp;&nbsp;&nbsp; 137880 | &nbsp;&nbsp;&nbsp; 287104 | &nbsp;&nbsp;&nbsp; 2100 |
| Net asset value per share | $26.50 | $22.64 | $25.32 |
| Investment securities, at cost: |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; $3491424 | &nbsp;&nbsp;&nbsp; $6314911 | &nbsp;&nbsp;&nbsp; $47707 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 147184 | &nbsp;&nbsp;&nbsp; 333895 | &nbsp;&nbsp;&nbsp; 3941 |
| Cash denominated in currencies other than U.S. dollars, <br> at cost<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Premiums received on options written | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the statements of assets and liabilities for footnote(s).

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **273** | Capital Group Fixed Income ETF Trust |

---

------

Financial statements (continued)

**Statements of assets and liabilities** at December 31, 2025 (continued)(dollars and shares in thousands, except per-share amount)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **International** <br>**Bond ETF** <br>**(USD-Hedged)**<br>| &nbsp;&nbsp; **Municipal** <br>**Income** <br>**ETF**<br>| &nbsp;&nbsp; **Municipal** <br>**High-Income** <br>**ETF**<br>|
| **Assets:** |  |  |  |
| Investment securities, at value: |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; $146974 | &nbsp;&nbsp;&nbsp; $4786127 | &nbsp;&nbsp;&nbsp; $2454777 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 1241 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Cash | &nbsp;&nbsp;&nbsp; 103 | &nbsp;&nbsp;&nbsp; 4964 | &nbsp;&nbsp;&nbsp; 2055 |
| Cash collateral pledged for futures contracts | &nbsp;&nbsp;&nbsp; 589 | &nbsp;&nbsp;&nbsp; 1460 | &nbsp;&nbsp;&nbsp; — |
| Cash collateral pledged for forward currency contracts | &nbsp;&nbsp;&nbsp; 157 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Cash collateral pledged for swap contracts | &nbsp;&nbsp;&nbsp; 409 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Cash denominated in currencies other than U.S. dollars | &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Unrealized appreciation on open forward currency <br> contracts<br>| &nbsp;&nbsp;&nbsp; 221 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Bilateral swaps, at value | &nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Receivables for: |  |  |  |
| Sales of investments | &nbsp;&nbsp;&nbsp; 139 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Sales of fund's shares | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3282 | &nbsp;&nbsp;&nbsp; — |
| Dividends and interest | &nbsp;&nbsp;&nbsp; 1551 | &nbsp;&nbsp;&nbsp; 50867 | &nbsp;&nbsp;&nbsp; 27762 |
| Variation margin on futures contracts | &nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp; — |
| Variation margin on centrally cleared swap contracts | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;&nbsp; 151410 | &nbsp;&nbsp;&nbsp; 4846718 | &nbsp;&nbsp;&nbsp; 2484594 |
| **Liabilities:** |  |  |  |
| Cash collateral pledged for forward contracts | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Unrealized depreciation on open forward currency <br> contracts<br>| &nbsp;&nbsp;&nbsp; 628 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Bilateral swaps, at value | &nbsp;&nbsp;&nbsp; 48 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Options written, at value | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Payables for: |  |  |  |
| Purchases of investments | &nbsp;&nbsp;&nbsp; 205 | &nbsp;&nbsp;&nbsp; 42902 | &nbsp;&nbsp;&nbsp; 1013 |
| Investment advisory services | &nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp;&nbsp; 1065 | &nbsp;&nbsp;&nbsp; 705 |
| Variation margin on futures contract | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Variation margin on centrally cleared swap contracts | &nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;&nbsp; 947 | &nbsp;&nbsp;&nbsp; 43967 | &nbsp;&nbsp;&nbsp; 1718 |
| Commitments and contingencies\* |  |  |  |
| **Net assets at December 31, 2025** | &nbsp;&nbsp;&nbsp; $150463 | &nbsp;&nbsp;&nbsp; $4802751 | &nbsp;&nbsp;&nbsp; $2482876 |
| **Net assets consist of:** |  |  |  |
| Capital paid in on shares of beneficial interest | &nbsp;&nbsp;&nbsp; $150240 | &nbsp;&nbsp;&nbsp; $4731671 | &nbsp;&nbsp;&nbsp; $2411267 |
| Total distributable earnings (accumulated loss) | &nbsp;&nbsp;&nbsp; 223 | &nbsp;&nbsp;&nbsp; 71080 | &nbsp;&nbsp;&nbsp; 71609 |
| **Net assets at December 31, 2025** | &nbsp;&nbsp;&nbsp; $150463 | &nbsp;&nbsp;&nbsp; $4802751 | &nbsp;&nbsp;&nbsp; $2482876 |
| Shares of beneficial interest issued and outstanding <br>(no stated par value) — unlimited shares authorized<br>|  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp; $150463 | &nbsp;&nbsp;&nbsp; $4802751 | &nbsp;&nbsp;&nbsp; $2482876 |
| Shares outstanding | &nbsp;&nbsp;&nbsp; 5940 | &nbsp;&nbsp;&nbsp; 175620 | &nbsp;&nbsp;&nbsp; 97750 |
| Net asset value per share | $25.33 | $27.35 | $25.40 |
| Investment securities, at cost: |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; $145030 | &nbsp;&nbsp;&nbsp; $4718224 | &nbsp;&nbsp;&nbsp; $2387918 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 1241 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Cash denominated in currencies other than U.S. dollars, <br> at cost<br>| &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Premiums received on options written | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the statements of assets and liabilities for footnote(s).

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **274** |

---

------

Financial statements (continued)

**Statements of assets and liabilities** at December 31, 2025 (continued)(dollars and shares in thousands, except per-share amount)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Short Duration** <br>**Income** <br>**ETF**<br>| &nbsp;&nbsp; **Short Duration** <br>**Municipal Income** <br>**ETF**<br>| &nbsp;&nbsp; **Ultra Short** <br>**Income** <br>**ETF**<br>|
| **Assets:** |  |  |  |
| Investment securities, at value: |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; $1818730 | &nbsp;&nbsp;&nbsp; $955674 | &nbsp;&nbsp;&nbsp; $186437 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 89376 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Cash | &nbsp;&nbsp;&nbsp; 255 | &nbsp;&nbsp;&nbsp; 418 | &nbsp;&nbsp;&nbsp; 49 |
| Cash collateral pledged for futures contracts | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp; — |
| Cash collateral pledged for forward currency contracts | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Cash collateral pledged for swap contracts | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 469 | &nbsp;&nbsp;&nbsp; 142 |
| Cash denominated in currencies other than U.S. dollars | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Unrealized appreciation on open forward currency <br> contracts<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Bilateral swaps, at value | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Receivables for: |  |  |  |
| Sales of investments | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Sales of fund's shares | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Dividends and interest | &nbsp;&nbsp;&nbsp; 12596 | &nbsp;&nbsp;&nbsp; 10621 | &nbsp;&nbsp;&nbsp; 1212 |
| Variation margin on futures contracts | &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>|
| Variation margin on centrally cleared swap contracts | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 79 |
|  | &nbsp;&nbsp;&nbsp; 1920957 | &nbsp;&nbsp;&nbsp; 967232 | &nbsp;&nbsp;&nbsp; 187919 |
| **Liabilities:** |  |  |  |
| Cash collateral pledged for forward contracts | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Unrealized depreciation on open forward currency <br> contracts<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Bilateral swaps, at value | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Options written, at value | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Payables for: |  |  |  |
| Purchases of investments | &nbsp;&nbsp;&nbsp; 48669 | &nbsp;&nbsp;&nbsp; 13219 | &nbsp;&nbsp;&nbsp; 1195 |
| Investment advisory services | &nbsp;&nbsp;&nbsp; 388 | &nbsp;&nbsp;&nbsp; 199 | &nbsp;&nbsp;&nbsp; 28 |
| Variation margin on futures contract | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Variation margin on centrally cleared swap contracts | &nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp; 76 |
|  | &nbsp;&nbsp;&nbsp; 49058 | &nbsp;&nbsp;&nbsp; 13419 | &nbsp;&nbsp;&nbsp; 1299 |
| Commitments and contingencies\* |  |  |  |
| **Net assets at December 31, 2025** | &nbsp;&nbsp;&nbsp; $1871899 | &nbsp;&nbsp;&nbsp; $953813 | &nbsp;&nbsp;&nbsp; $186620 |
| **Net assets consist of:** |  |  |  |
| Capital paid in on shares of beneficial interest | &nbsp;&nbsp;&nbsp; $1851845 | &nbsp;&nbsp;&nbsp; $943140 | &nbsp;&nbsp;&nbsp; $186281 |
| Total distributable earnings (accumulated loss) | &nbsp;&nbsp;&nbsp; 20054 | &nbsp;&nbsp;&nbsp; 10673 | &nbsp;&nbsp;&nbsp; 339 |
| **Net assets at December 31, 2025** | &nbsp;&nbsp;&nbsp; $1871899 | &nbsp;&nbsp;&nbsp; $953813 | &nbsp;&nbsp;&nbsp; $186620 |
| Shares of beneficial interest issued and outstanding <br>(no stated par value) — unlimited shares authorized<br>|  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp; $1871899 | &nbsp;&nbsp;&nbsp; $953813 | &nbsp;&nbsp;&nbsp; $186620 |
| Shares outstanding | &nbsp;&nbsp;&nbsp; 72000 | &nbsp;&nbsp;&nbsp; 36240 | &nbsp;&nbsp;&nbsp; 7380 |
| Net asset value per share | $26.00 | $26.32 | $25.29 |
| Investment securities, at cost: |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; $1802034 | &nbsp;&nbsp;&nbsp; $946337 | &nbsp;&nbsp;&nbsp; $186097 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 89356 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Cash denominated in currencies other than U.S. dollars, <br> at cost<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Premiums received on options written | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the statements of assets and liabilities for footnote(s).

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **275** | Capital Group Fixed Income ETF Trust |

---

------

Financial statements (continued)

**Statements of assets and liabilities** at December 31, 2025 (continued)(dollars and shares in thousands, except per-share amount)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | &nbsp;&nbsp; **U.S. Multi-Sector** <br>**Income** <br>**ETF**<br>|
| **Assets:** |  |
| Investment securities, at value: |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; $3783258 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 97295 |
| Cash | &nbsp;&nbsp;&nbsp; 1839 |
| Cash collateral pledged for futures contracts | &nbsp;&nbsp;&nbsp; 1506 |
| Cash collateral pledged for forward currency contracts | &nbsp;&nbsp;&nbsp; — |
| Cash collateral pledged for swap contracts | &nbsp;&nbsp;&nbsp; — |
| Cash denominated in currencies other than U.S. dollars | &nbsp;&nbsp;&nbsp; — |
| Unrealized appreciation on open forward currency contracts | &nbsp;&nbsp;&nbsp; 35 |
| Bilateral swaps, at value | &nbsp;&nbsp;&nbsp; — |
| Receivables for: |  |
| Sales of investments | &nbsp;&nbsp;&nbsp; 41 |
| Sales of fund's shares | &nbsp;&nbsp;&nbsp; — |
| Dividends and interest | &nbsp;&nbsp;&nbsp; 52096 |
| Variation margin on futures contracts | &nbsp;&nbsp;&nbsp; 2044 |
| Variation margin on centrally cleared swap contracts | &nbsp;&nbsp;&nbsp; 469 |
|  | &nbsp;&nbsp;&nbsp; 3938583 |
| **Liabilities:** |  |
| Cash collateral pledged for forward contracts | &nbsp;&nbsp;&nbsp; — |
| Unrealized depreciation on open forward currency contracts | &nbsp;&nbsp;&nbsp; — |
| Bilateral swaps, at value | &nbsp;&nbsp;&nbsp; — |
| Options written, at value | &nbsp;&nbsp;&nbsp; 251 |
| Payables for: |  |
| Purchases of investments | &nbsp;&nbsp;&nbsp; 5353 |
| Investment advisory services | &nbsp;&nbsp;&nbsp; 1266 |
| Variation margin on futures contract | &nbsp;&nbsp;&nbsp; 1955 |
| Variation margin on centrally cleared swap contracts | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;&nbsp; 8825 |
| Commitments and contingencies\* |  |
| **Net assets at December 31, 2025** | &nbsp;&nbsp;&nbsp; $3929758 |
| **Net assets consist of:** |  |
| Capital paid in on shares of beneficial interest | &nbsp;&nbsp;&nbsp; $3886289 |
| Total distributable earnings (accumulated loss) | &nbsp;&nbsp;&nbsp; 43469 |
| **Net assets at December 31, 2025** | &nbsp;&nbsp;&nbsp; $3929758 |
| Shares of beneficial interest issued and outstanding <br>(no stated par value) — unlimited shares authorized<br>|  |
| Net assets | &nbsp;&nbsp;&nbsp; $3929758 |
| Shares outstanding | &nbsp;&nbsp;&nbsp; 142200 |
| Net asset value per share | $27.64 |
| Investment securities, at cost: |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; $3755951 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 97273 |
| Cash denominated in currencies other than U.S. dollars, at cost | &nbsp;&nbsp;&nbsp; — |
| Premiums received on options written | &nbsp;&nbsp;&nbsp; 383 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| \* | Refer to Note 5 for further information on unfunded commitments. |
| <sup>†</sup> | Amount less than one thousand. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **276** |

---

------

Financial statements (continued)

**Statements of operations** for the year ended December 31, 2025(dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Core** <br>**Bond** <br>**ETF**<br>| &nbsp;&nbsp; **Core Plus** <br>**Income** <br>**ETF**<br>| &nbsp;&nbsp; **High Yield** <br>**Bond** <br>**ETF**<sup>1</sup> <br>|
| **Investment income:** |  |  |  |
| Income (net of non-U.S. taxes<sup>2</sup>): |  |  |  |
| Interest from unaffiliated issuers | &nbsp;&nbsp;&nbsp; $123159 | &nbsp;&nbsp;&nbsp; $328055 | &nbsp;&nbsp;&nbsp; $1591 |
| Dividends: |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 5 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 4028 | &nbsp;&nbsp;&nbsp; 22381 | &nbsp;&nbsp;&nbsp; 97 |
|  | &nbsp;&nbsp;&nbsp; 127187 | &nbsp;&nbsp;&nbsp; 350436 | &nbsp;&nbsp;&nbsp; 1693 |
|  | &nbsp;&nbsp;&nbsp; 127187 | &nbsp;&nbsp;&nbsp; 350436 | &nbsp;&nbsp;&nbsp; 1693 |
| Fees and expenses: |  |  |  |
| Investment advisory services | &nbsp;&nbsp;&nbsp; 6888 | &nbsp;&nbsp;&nbsp; 17671 | &nbsp;&nbsp;&nbsp; 105 |
| Other | &nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp; — <br><sup>3</sup><br>|
| Total fees and expenses | &nbsp;&nbsp;&nbsp; 6897 | &nbsp;&nbsp;&nbsp; 17690 | &nbsp;&nbsp;&nbsp; 105 |
| Net investment income | &nbsp;&nbsp;&nbsp; 120290 | &nbsp;&nbsp;&nbsp; 332746 | &nbsp;&nbsp;&nbsp; 1588 |
| **Net realized gain (loss) and unrealized appreciation** <br> **(depreciation):**<br>|  |  |  |
| Net realized gain (loss)<sup>2</sup> on: |  |  |  |
| Investments in: |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; (9487)<br>| &nbsp;&nbsp;&nbsp; (1726)<br>| &nbsp;&nbsp;&nbsp; 8 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; (45)<br>| &nbsp;&nbsp;&nbsp; (40)<br>| &nbsp;&nbsp;&nbsp; (1)<br>|
| In-kind redemptions | &nbsp;&nbsp;&nbsp; 10194 | &nbsp;&nbsp;&nbsp; 9193 | &nbsp;&nbsp;&nbsp; — |
| Options written | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Futures contracts | &nbsp;&nbsp;&nbsp; 10546 | &nbsp;&nbsp;&nbsp; 6605 | &nbsp;&nbsp;&nbsp; — |
| Forward currency contracts | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (710)<br>| &nbsp;&nbsp;&nbsp; — |
| Swap contracts | &nbsp;&nbsp;&nbsp; (2187)<br>| &nbsp;&nbsp;&nbsp; (62542)<br>| &nbsp;&nbsp;&nbsp; — |
| Currency transactions | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (111)<br>| &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;&nbsp; 9021 | &nbsp;&nbsp;&nbsp; (49331)<br>| &nbsp;&nbsp;&nbsp; 7 |
| Net unrealized appreciation (depreciation)<sup>2</sup> on: |  |  |  |
| Investments in: |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; 46190 | &nbsp;&nbsp;&nbsp; 86220 | &nbsp;&nbsp;&nbsp; 671 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp; 1 |
| Options written | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Futures contracts | &nbsp;&nbsp;&nbsp; (219)<br>| &nbsp;&nbsp;&nbsp; (4770)<br>| &nbsp;&nbsp;&nbsp; (6)<br>|
| Forward currency contracts | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (147)<br>| &nbsp;&nbsp;&nbsp; — |
| Swap contracts | &nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp; 6866 | &nbsp;&nbsp;&nbsp; — |
| Currency translations | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp; — <br><sup>3</sup><br>|
|  | &nbsp;&nbsp;&nbsp; 46033 | &nbsp;&nbsp;&nbsp; 88234 | &nbsp;&nbsp;&nbsp; 666 |
| Net realized gain (loss) and unrealized appreciation <br> (depreciation)<br>| &nbsp;&nbsp;&nbsp; 55054 | &nbsp;&nbsp;&nbsp; 38903 | &nbsp;&nbsp;&nbsp; 673 |
| **Net increase (decrease) in net assets resulting from** <br> **operations**<br>| &nbsp;&nbsp;&nbsp; $175344 | &nbsp;&nbsp;&nbsp; $371649 | &nbsp;&nbsp;&nbsp; $2261 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the statements of operations for footnote(s).

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **277** | Capital Group Fixed Income ETF Trust |

---

------

Financial statements (continued)

**Statements of operations** for the year ended December 31, 2025 (continued)(dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **International** <br>**Bond ETF** <br>**(USD-Hedged)**<br>| &nbsp;&nbsp; **Municipal** <br>**Income** <br>**ETF**<br>| &nbsp;&nbsp; **Municipal** <br>**High-Income** <br>**ETF**<br>|
| **Investment income:** |  |  |  |
| Income (net of non-U.S. taxes<sup>2</sup>): |  |  |  |
| Interest from unaffiliated issuers | &nbsp;&nbsp;&nbsp; $2845 | &nbsp;&nbsp;&nbsp; $135847 | &nbsp;&nbsp;&nbsp; $45480 |
| Dividends: |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 105 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;&nbsp; 2951 | &nbsp;&nbsp;&nbsp; 135847 | &nbsp;&nbsp;&nbsp; 45480 |
|  | &nbsp;&nbsp;&nbsp; 2951 | &nbsp;&nbsp;&nbsp; 135847 | &nbsp;&nbsp;&nbsp; 45480 |
| Fees and expenses: |  |  |  |
| Investment advisory services | &nbsp;&nbsp;&nbsp; 297 | &nbsp;&nbsp;&nbsp; 9540 | &nbsp;&nbsp;&nbsp; 3223 |
| Other | &nbsp;&nbsp;&nbsp; — <br><sup>3</sup><br>| &nbsp;&nbsp;&nbsp; 46 | &nbsp;&nbsp;&nbsp; 7 |
| Total fees and expenses | &nbsp;&nbsp;&nbsp; 297 | &nbsp;&nbsp;&nbsp; 9586 | &nbsp;&nbsp;&nbsp; 3230 |
| Net investment income | &nbsp;&nbsp;&nbsp; 2654 | &nbsp;&nbsp;&nbsp; 126261 | &nbsp;&nbsp;&nbsp; 42250 |
| **Net realized gain (loss) and unrealized appreciation** <br> **(depreciation):**<br>|  |  |  |
| Net realized gain (loss)<sup>2</sup> on: |  |  |  |
| Investments in: |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; (41)<br>| &nbsp;&nbsp;&nbsp; (3488)<br>| &nbsp;&nbsp;&nbsp; 2008 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; (1)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| In-kind redemptions | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 777 | &nbsp;&nbsp;&nbsp; 1140 |
| Options written | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Futures contracts | &nbsp;&nbsp;&nbsp; 271 | &nbsp;&nbsp;&nbsp; 535 | &nbsp;&nbsp;&nbsp; 405 |
| Forward currency contracts | &nbsp;&nbsp;&nbsp; (829)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Swap contracts | &nbsp;&nbsp;&nbsp; (236)<br>| &nbsp;&nbsp;&nbsp; 765 | &nbsp;&nbsp;&nbsp; — |
| Currency transactions | &nbsp;&nbsp;&nbsp; (1301)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;&nbsp; (2137)<br>| &nbsp;&nbsp;&nbsp; (1411)<br>| &nbsp;&nbsp;&nbsp; 3553 |
| Net unrealized appreciation (depreciation)<sup>2</sup> on: |  |  |  |
| Investments in: |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; 3121 | &nbsp;&nbsp;&nbsp; 72604 | &nbsp;&nbsp;&nbsp; 67169 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; — <br><sup>3</sup><br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Options written | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Futures contracts | &nbsp;&nbsp;&nbsp; (48)<br>| &nbsp;&nbsp;&nbsp; 91 | &nbsp;&nbsp;&nbsp; — |
| Forward currency contracts | &nbsp;&nbsp;&nbsp; (1401)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Swap contracts | &nbsp;&nbsp;&nbsp; 76 | &nbsp;&nbsp;&nbsp; (774)<br>| &nbsp;&nbsp;&nbsp; — |
| Currency translations | &nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;&nbsp; 1776 | &nbsp;&nbsp;&nbsp; 71921 | &nbsp;&nbsp;&nbsp; 67169 |
| Net realized gain (loss) and unrealized appreciation <br> (depreciation)<br>| &nbsp;&nbsp;&nbsp; (361)<br>| &nbsp;&nbsp;&nbsp; 70510 | &nbsp;&nbsp;&nbsp; 70722 |
| **Net increase (decrease) in net assets resulting from** <br> **operations**<br>| &nbsp;&nbsp;&nbsp; $2293 | &nbsp;&nbsp;&nbsp; $196771 | &nbsp;&nbsp;&nbsp; $112972 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the statements of operations for footnote(s).

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **278** |

---

------

Financial statements (continued)

**Statements of operations** for the year ended December 31, 2025 (continued)(dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Short Duration** <br>**Income** <br>**ETF**<br>| &nbsp;&nbsp; **Short Duration** <br>**Municipal Income** <br>**ETF**<br>| &nbsp;&nbsp; **Ultra Short** <br>**Income** <br>**ETF**<br>|
| **Investment income:** |  |  |  |
| Income (net of non-U.S. taxes<sup>2</sup>): |  |  |  |
| Interest from unaffiliated issuers | &nbsp;&nbsp;&nbsp; $75631 | &nbsp;&nbsp;&nbsp; $26389 | &nbsp;&nbsp;&nbsp; $3757 |
| Dividends: |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 4045 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;&nbsp; 79676 | &nbsp;&nbsp;&nbsp; 26389 | &nbsp;&nbsp;&nbsp; 3757 |
|  | &nbsp;&nbsp;&nbsp; 79676 | &nbsp;&nbsp;&nbsp; 26389 | &nbsp;&nbsp;&nbsp; 3757 |
| Fees and expenses: |  |  |  |
| Investment advisory services | &nbsp;&nbsp;&nbsp; 3387 | &nbsp;&nbsp;&nbsp; 1838 | &nbsp;&nbsp;&nbsp; 141 |
| Other | &nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp; — <br><sup>3</sup><br>|
| Total fees and expenses | &nbsp;&nbsp;&nbsp; 3392 | &nbsp;&nbsp;&nbsp; 1844 | &nbsp;&nbsp;&nbsp; 141 |
| Net investment income | &nbsp;&nbsp;&nbsp; 76284 | &nbsp;&nbsp;&nbsp; 24545 | &nbsp;&nbsp;&nbsp; 3616 |
| **Net realized gain (loss) and unrealized appreciation** <br> **(depreciation):**<br>|  |  |  |
| Net realized gain (loss)<sup>2</sup> on: |  |  |  |
| Investments in: |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; 1671 | &nbsp;&nbsp;&nbsp; 109 | &nbsp;&nbsp;&nbsp; (61)<br>|
| Affiliated issuers | &nbsp;&nbsp;&nbsp; (8)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| In-kind redemptions | &nbsp;&nbsp;&nbsp; 330 | &nbsp;&nbsp;&nbsp; 210 | &nbsp;&nbsp;&nbsp; 58 |
| Options written | &nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Futures contracts | &nbsp;&nbsp;&nbsp; (644)<br>| &nbsp;&nbsp;&nbsp; (138)<br>| &nbsp;&nbsp;&nbsp; (15)<br>|
| Forward currency contracts | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Swap contracts | &nbsp;&nbsp;&nbsp; (11593)<br>| &nbsp;&nbsp;&nbsp; (593)<br>| &nbsp;&nbsp;&nbsp; (223)<br>|
| Currency transactions | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;&nbsp; (10187)<br>| &nbsp;&nbsp;&nbsp; (412)<br>| &nbsp;&nbsp;&nbsp; (241)<br>|
| Net unrealized appreciation (depreciation)<sup>2</sup> on: |  |  |  |
| Investments in: |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; 13595 | &nbsp;&nbsp;&nbsp; 9147 | &nbsp;&nbsp;&nbsp; 231 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Options written | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Futures contracts | &nbsp;&nbsp;&nbsp; (160)<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (1)<br>|
| Forward currency contracts | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Swap contracts | &nbsp;&nbsp;&nbsp; 894 | &nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp;&nbsp; 38 |
| Currency translations | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;&nbsp; 14340 | &nbsp;&nbsp;&nbsp; 9215 | &nbsp;&nbsp;&nbsp; 268 |
| Net realized gain (loss) and unrealized appreciation <br> (depreciation)<br>| &nbsp;&nbsp;&nbsp; 4153 | &nbsp;&nbsp;&nbsp; 8803 | &nbsp;&nbsp;&nbsp; 27 |
| **Net increase (decrease) in net assets resulting from** <br> **operations**<br>| &nbsp;&nbsp;&nbsp; $80437 | &nbsp;&nbsp;&nbsp; $33348 | &nbsp;&nbsp;&nbsp; $3643 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the statements of operations for footnote(s).

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **279** | Capital Group Fixed Income ETF Trust |

---

------

Financial statements (continued)

**Statements of operations** for the year ended December 31, 2025 (continued)(dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | &nbsp;&nbsp; **U.S. Multi-Sector** <br>**Income** <br>**ETF**<br>|
| **Investment income:** |  |
| Income (net of non-U.S. taxes<sup>2</sup>): |  |
| Interest from unaffiliated issuers | &nbsp;&nbsp;&nbsp; $222930 |
| Dividends: |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; — |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 4235 |
|  | &nbsp;&nbsp;&nbsp; 227165 |
|  | &nbsp;&nbsp;&nbsp; 227165 |
| Fees and expenses: |  |
| Investment advisory services | &nbsp;&nbsp;&nbsp; 11340 |
| Other | &nbsp;&nbsp;&nbsp; 10 |
| Total fees and expenses | &nbsp;&nbsp;&nbsp; 11350 |
| Net investment income | &nbsp;&nbsp;&nbsp; 215815 |
| **Net realized gain (loss) and unrealized appreciation (depreciation):** |  |
| Net realized gain (loss)<sup>2</sup> on: |  |
| Investments in: |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; 2546 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; (1)<br>|
| In-kind redemptions | &nbsp;&nbsp;&nbsp; 1678 |
| Options written | &nbsp;&nbsp;&nbsp; (630)<br>|
| Futures contracts | &nbsp;&nbsp;&nbsp; 1923 |
| Forward currency contracts | &nbsp;&nbsp;&nbsp; (383)<br>|
| Swap contracts | &nbsp;&nbsp;&nbsp; (37916)<br>|
| Currency transactions | &nbsp;&nbsp;&nbsp; (130)<br>|
|  | &nbsp;&nbsp;&nbsp; (32913)<br>|
| Net unrealized appreciation (depreciation)<sup>2</sup> on: |  |
| Investments in: |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; 31349 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 8 |
| Options written | &nbsp;&nbsp;&nbsp; 132 |
| Futures contracts | &nbsp;&nbsp;&nbsp; 669 |
| Forward currency contracts | &nbsp;&nbsp;&nbsp; (46)<br>|
| Swap contracts | &nbsp;&nbsp;&nbsp; 4049 |
| Currency translations | &nbsp;&nbsp;&nbsp; 10 |
|  | &nbsp;&nbsp;&nbsp; 36171 |
| Net realized gain (loss) and unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp; 3258 |
| **Net increase (decrease) in net assets resulting from operations** | &nbsp;&nbsp;&nbsp; $219073 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>1</sup> For the period June 24, 2025, commencement of operations, through December 31, 2025.

<sup>2</sup> Additional information related to non-U.S. taxes is included in the notes to financial statements.

<sup>3</sup> Amount less than one thousand.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **280** |

---

------

Financial statements (continued)

**Statements of changes in net assets**(dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Core** <br>**Bond** <br>**ETF** | **Core** <br>**Bond** <br>**ETF** | **Core Plus** <br>**Income** <br>**ETF** | **Core Plus** <br>**Income** <br>**ETF** | **High Yield** <br>**Bond** <br>**ETF** |
|  | Year ended<br>December 31, <br>2025<br>| Year ended<br>December 31, <br>2024<br>| Year ended<br>December 31, <br>2025<br>| Year ended <br>December 31, <br>2024<br>| Period ended<br>December 31, <br>2025\* |
| **Operations:** |  |  |  |  |  |
| Net investment income | $120290 | $34549 | $332746 | $185128 | $1588 |
| Net realized gain (loss) | 9021 | (8842)<br>| (49331)<br>| (37734)<br>| 7 |
| Net unrealized appreciation (depreciation) | 46033 | (21692)<br>| 88234 | (81746)<br>| 666 |
| Net increase (decrease) in net assets <br> resulting from operations<br>| 175344 | 4015 | 371649 | 65648 | 2261 |
| **Distributions paid to shareholders** | (113910)<br>| (33238)<br>| (274566)<br>| (143463)<br>| (1608) |
| **Net capital share transactions** | 2012855 | 1512134 | 2419409 | 2497645 | 52527 |
| **Total increase (decrease) in net assets** | 2074289 | 1482911 | 2516492 | 2419830 | 53180 |
| **Net assets:** |  |  |  |  |  |
| Beginning of period | 1579476 | 96565 | 3984880 | 1565050 |  |
| End of period | $3653765 | $1579476 | $6501372 | $3984880 | $53180 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **International** <br>**Bond ETF** <br>**(USD-Hedged)** | **International** <br>**Bond ETF** <br>**(USD-Hedged)** | **Municipal** <br>**Income** <br>**ETF** | **Municipal** <br>**Income** <br>**ETF** | **Municipal** <br>**High-Income** <br>**ETF** | **Municipal** <br>**High-Income** <br>**ETF** |
|  | Year ended <br>December 31, <br>2025<br>| Period ended<br>December 31, <br>2024<sup>†</sup><br>| Year ended<br>December 31, <br>2025<br>| Year ended <br>December 31, <br>2024<br>| Year ended <br>December 31, <br>2025<br>| Period ended<br>December 31, <br>2024<sup>†</sup><br>|
| **Operations:** |  |  |  |  |  |  |
| Net investment income | $2654 | $915 | $126261 | $52969 | $42250 | $1196 |
| Net realized gain (loss) | (2137)<br>| 708 | (1411)<br>| (544)<br>| 3553 | 8 |
| Net unrealized appreciation (depreciation) | 1776 | (247)<br>| 71921 | (19983)<br>| 67169 | (310)<br>|
| Net increase (decrease) in net assets <br> resulting from operations<br>| 2293 | 1376 | 196771 | 32442 | 112972 | 894 |
| **Distributions paid to shareholders** | (2623)<br>| (823)<br>| (122400)<br>| (49415)<br>| (39939)<br>| (1137)<br>|
| **Net capital share transactions** | 100740 | 49500 | 2061969 | 2166571 | 2325291 | 84795 |
| **Total increase (decrease) in net assets** | 100410 | 50053 | 2136340 | 2149598 | 2398324 | 84552 |
| **Net assets:** |  |  |  |  |  |  |
| Beginning of period | 50053 |  | 2666411 | 516813 | 84552 |  |
| End of period | $150463 | $50053 | $4802751 | $2666411 | $2482876 | $84552 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the statements of changes in net assets for footnote(s).

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **281** | Capital Group Fixed Income ETF Trust |

---

------

Financial statements (continued)

**Statements of changes in net assets** (continued)(dollars in thousands)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Short Duration** <br>**Income** <br>**ETF** | **Short Duration** <br>**Income** <br>**ETF** | **Short Duration** <br>**Municipal Income** <br>**ETF** | **Short Duration** <br>**Municipal Income** <br>**ETF** | **Ultra Short** <br>**Income** <br>**ETF** | **Ultra Short** <br>**Income** <br>**ETF** |
|  | Year ended<br>December 31, <br>2025<br>| Year ended <br>December 31, <br>2024<br>| Year ended<br>December 31, <br>2025<br>| Year ended<br>December 31, <br>2024<br>| Year ended <br>December 31, <br>2025<br>| Period ended<br>December 31, <br>2024<sup>†</sup><br>|
| **Operations:** |  |  |  |  |  |  |
| Net investment income | $76284 | $37836 | $24545 | $8648 | $3616 | $839 |
| Net realized gain (loss) | (10187)<br>| (10210)<br>| (412)<br>| (269)<br>| (241)<br>| 46 |
| Net unrealized appreciation (depreciation) | 14340 | 3101 | 9215 | (706)<br>| 268 | 110 |
| Net increase (decrease) in net assets <br> resulting from operations<br>| 80437 | 30727 | 33348 | 7673 | 3643 | 995 |
| **Distributions paid to shareholders** | (63573)<br>| (27757)<br>| (23144)<br>| (8036)<br>| (3383)<br>| (857)<br>|
| **Net capital share transactions** | 980680 | 538988 | 389732 | 507840 | 151691 | 34531 |
| **Total increase (decrease) in net assets** | 997544 | 541958 | 399936 | 507477 | 151951 | 34669 |
| **Net assets:** |  |  |  |  |  |  |
| Beginning of period | 874355 | 332397 | 553877 | 46400 | 34669 |  |
| End of period | $1871899 | $874355 | $953813 | $553877 | $186620 | $34669 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **U.S. Multi-Sector** <br>**Income** <br>**ETF** | **U.S. Multi-Sector** <br>**Income** <br>**ETF** |
|  | Year ended<br>December 31, <br>2025<br>| Year ended <br>December 31, <br>2024<br>|
| **Operations:** |  |  |
| Net investment income | $215815 | $77052 |
| Net realized gain (loss) | (32913)<br>| (9679)<br>|
| Net unrealized appreciation (depreciation) | 36171 | (6619)<br>|
| Net increase (decrease) in net assets resulting <br> from operations<br>| 219073 | 60754 |
| **Distributions paid to shareholders** | (182781)<br>| (64695)<br>|
| **Net capital share transactions** | 1942833 | 1575085 |
| **Total increase (decrease) in net assets** | 1979125 | 1571144 |
| **Net assets:** |  |  |
| Beginning of period | 1950633 | 379489 |
| End of period | $3929758 | $1950633 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* For the period June 24, 2025, commencement of operations, through December 31, 2025. <br> <sup>†</sup> For the period June 25, 2024, commencement of operations, through December 31, 2024.

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **282** |

---

------

Notes to financial statements

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**1. Organization**

------

Capital Group Fixed Income ETF Trust (the "series") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The series consists of four nondiversified exchange-traded funds: Capital Group Core Bond ETF ("Core Bond ETF"), Capital Group International Bond ETF (USD-Hedged) ("International Bond ETF (USD-Hedged)"), Capital Group Short Duration Municipal Income ETF ("Short Duration Municipal Income ETF") and Capital Group Ultra Short Income ETF ("Ultra Short Income ETF"), and six diversified exchange-traded funds: Capital Group Core Plus Income ETF ("Core Plus Income ETF"), Capital Group High Yield Bond ETF ("High Yield Bond ETF"), Capital Group Municipal Income ETF ("Municipal Income ETF"), Capital Group Municipal High-Income ETF ("Municipal High-Income ETF"), Capital Group Short Duration Income ETF ("Short Duration Income ETF") and Capital Group U.S. Multi-Sector Income ETF ("U.S. Multi-Sector Income ETF") (each a "fund", or collectively, the "funds").

The investment objective(s) for each fund are as follows:

**Core Bond ETF** — To provide as high a level of current income as is consistent with the preservation of capital.

**Core Plus Income ETF** — To provide current income and seek maximum total return, consistent with preservation of capital.

**High Yield Bond ETF** — To provide a high level of current income. Its secondary investment objective is capital appreciation.

**International Bond ETF (USD-Hedged)** — To provide a high level of current income as is consistent with the preservation of capital.

**Municipal Income ETF** — To provide a high level of current income exempt from regular federal income tax, consistent with the preservation of capital.

**Municipal High-Income ETF** — To provide a high level of current income exempt from regular federal income tax.

**Short Duration Income ETF** — To provide current income, consistent with a short duration profile and with the preservation of capital.

**Short Duration Municipal Income ETF** — To provide current income exempt from regular federal income tax, consistent with a short duration profile and with the preservation of capital.

**Ultra Short Income ETF** — To provide current income, consistent with an ultra-short duration profile, focused on preservation of capital.

**U.S. Multi-Sector Income ETF** — To provide a high level of current income. The secondary objective is to provide capital appreciation.

**2. Significant accounting policies**

------

Each fund is an investment company that applies the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board ("FASB"). Each fund's financial statements have been prepared to comply with U.S. generally accepted accounting principles ("U.S. GAAP"). These principles require the funds' 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 funds follow the significant accounting policies described in this section, as well as the valuation policies described in the next section on valuation.

**Operating segments** — Each fund represents a single operating segment as the operating results of each fund are monitored as a whole and its long-term asset allocation is determined in accordance with the terms of its prospectus, based on defined investment objectives that are executed by the funds' portfolio management team. A senior executive team comprised of the funds' Principal Executive Officer and Principal Financial Officer, serves as the funds' chief operating decision maker ("CODM"), who act in accordance with Board of Trustee reviews and approvals. The CODM uses financial information, such as changes in net assets from operations, changes in net assets from fund share transactions, and income and expense ratios, consistent with that presented within the accompanying financial statements and financial highlights to assess each fund's profits and losses and to make resource allocation decisions. Segment assets are reflected in the statement of assets and liabilities as net assets, which consists primarily of investment securities, at value, and significant segment expenses are listed in the accompanying statement of operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **283** | Capital Group Fixed Income ETF Trust |

---

------

**Security transactions and related investment income** — Security transactions are recorded by the funds 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 funds will segregate liquid assets sufficient to meet their 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.

**Distributions paid to shareholders** — Income dividends and capital gain distributions are recorded on each fund's ex-dividend date.

**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 each 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 funds' investment adviser, values each fund's investments at fair value as defined by U.S. GAAP. The net asset value per share of each fund 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 funds' investment adviser uses the following methods and inputs to establish the fair value of each 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, including depositary receipts, 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 evaluated prices obtained from third-party 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 funds are 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 | &nbsp;&nbsp; Benchmark yields, transactions, bids, offers, quotations from dealers and <br> trading systems, new issues, spreads and other relationships observed in <br> the markets among comparable securities; and proprietary pricing <br> models such as yield measures calculated using factors such as cash flows, <br> financial or collateral performance and other reference data (collectively <br> referred to as "standard inputs")<br>|
| 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 | &nbsp;&nbsp; Standard inputs and cash flows, prepayment information, default rates, <br> delinquency and loss assumptions, collateral characteristics, credit <br> enhancements and specific deal information<br>|
| Municipal securities | &nbsp;&nbsp; Standard inputs and, for certain distressed securities, cash flows or <br> liquidation values using a net present value calculation based on <br> inputs that include, but are not limited to, financial statements and debt <br> contracts<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **284** |

---

------

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 each funds' 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 options and futures are generally valued at the official closing price for options and official settlement price for futures on the exchange or market on which such instruments are traded, as of the close of business on the day such instruments are being valued. Forward currency contracts are valued based on the spot and forward exchange rates obtained from a third-party pricing vendor. Swaps are generally valued using evaluated prices obtained from third-party pricing vendors who calculate these values based on market inputs that may include the yields of the indices referenced in the instrument and the relevant curve, dealer quotes, default probabilities and recovery rates, other reference data, and terms of the contract.

Securities and other assets for which representative market quotations are not readily available or are considered unreliable by each funds' investment adviser are fair valued as determined in good faith under fair valuation guidelines adopted by each funds' investment adviser and approved by the 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, restrictions on resale of the security, relevant financial or business developments of the issuer, actively traded similar or related securities, dealer or broker quotes, 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 fund is determined. Fair 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** — Each fund's board of trustees has designated each funds' investment adviser to make fair value determinations, subject to board oversight. The investment adviser has established a Joint Fair Valuation Committee (the "Committee") to administer, implement and oversee the fair valuation process and to make fair value decisions. The Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser's valuation team. The Committee reviews changes in fair value measurements from period to period, pricing vendor information and market data, and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. 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. The Committee reports changes to the fair valuation guidelines to the board of trustees. Each fund's board and audit committee also regularly review reports that describe fair value determinations and methods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **285** | Capital Group Fixed Income ETF Trust |

---

------

**Classifications** — Each funds' investment adviser classifies each 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 reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market. The funds' valuation levels as of December 31, 2025, were as follows (dollars in thousands):

**Core Bond ETF** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Bonds, notes & other debt instruments: |  |  |  |  |
| Corporate bonds and notes  | $— | $1489071 | $— | $1489071 |
| Mortgage-backed obligations  |  | 1144138 |  | 1144138 |
| U.S. Treasury bonds & notes  |  | 529489 |  | 529489 |
| Asset-backed obligations  |  | 339331 |  | 339331 |
| Bonds & notes of governments & government agencies <br>outside the U.S. <br>|  | 19046 |  | 19046 |
| Loans  |  |  | 1389 | 1389 |
| Municipals  |  | 729 |  | 729 |
| Short-term securities  | 147218 |  |  | 147218 |
| Total | $147218 | $3521804 | $1389 | $3670411 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Unrealized appreciation on futures contracts  | $121 | $— | $— | $121 |
| Unrealized appreciation on centrally cleared interest rate swaps  |  | 1 |  | 1 |
| Unrealized appreciation on centrally cleared credit default swaps  |  | 37 |  | 37 |
| Liabilities: |  |  |  |  |
| Unrealized depreciation on futures contracts  | (4148)<br>|  |  | (4148)<br>|
| Unrealized depreciation on centrally cleared interest rate swaps  |  | (14)<br>|  | (14)<br>|
| Total | $(4027)<br>| $24 | $— | $(4003)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Futures contracts, interest rate swaps and credit default swaps are not included in the investment portfolio.

**Core Plus Income ETF** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Bonds, notes & other debt instruments: |  |  |  |  |
| Mortgage-backed obligations  | $— | $2740199 | $— | $2740199 |
| Corporate bonds and notes  |  | 1997090 | 592 | 1997682 |
| U.S. Treasury bonds & notes  |  | 1033731 |  | 1033731 |
| Asset-backed obligations  |  | 471221 |  | 471221 |
| Bonds & notes of governments & government agencies <br>outside the U.S. <br>|  | 99251 |  | 99251 |
| Loans  |  | 17179 | 634 | 17813 |
| Municipals  |  | 4187 |  | 4187 |
| Common stocks  | 102 |  |  | 102 |
| Short-term securities  | 333993 |  |  | 333993 |
| Total | $334095 | $6362858 | $1226 | $6698179 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **286** |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Unrealized appreciation on futures contracts  | $1906 | $— | $— | $1906 |
| Unrealized appreciation on open forward currency contracts  |  | 17 |  | 17 |
| Unrealized appreciation on centrally cleared interest rate swaps  |  | 9762 |  | 9762 |
| Liabilities: |  |  |  |  |
| Unrealized depreciation on futures contracts  | (5000)<br>|  |  | (5000)<br>|
| Unrealized depreciation on centrally cleared interest rate swaps  |  | (1873)<br>|  | (1873)<br>|
| Total | $(3094)<br>| $7906 | $— | $4812 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Futures contracts, forward currency contracts and interest rate swaps are not included in the investment portfolio.

**High Yield Bond ETF** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Bonds, notes & other debt instruments: |  |  |  |  |
| Corporate bonds and notes  | $— | $45611 | $— | $45611 |
| Loans  |  | 847 |  | 847 |
| Convertible bonds & notes  |  | 1642 |  | 1642 |
| Convertible stocks  | 138 |  |  | 138 |
| Common stocks  | 140 |  |  | 140 |
| Short-term securities  | 3942 |  |  | 3942 |
| Total | $4220 | $48100 | $— | $52320 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Liabilities: |  |  |  |  |
| Unrealized depreciation on futures contracts  | $(6)<br>| $— | $— | $(6)<br>|
| Total | $(6)<br>| $— | $— | $(6)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Futures contracts are not included in the investment portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **287** | Capital Group Fixed Income ETF Trust |

---

------

**International Bond ETF (USD-Hedged)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Bonds, notes & other debt instruments: |  |  |  |  |
| Euros | $— | $43753 | $— | $43753 |
| British pounds |  | 13824 |  | 13824 |
| Chinese yuan renminbi |  | 13110 |  | 13110 |
| Japanese yen |  | 10472 |  | 10472 |
| Canadian dollars |  | 8948 |  | 8948 |
| Malaysian ringgits |  | 6641 |  | 6641 |
| Brazilian reais |  | 6344 |  | 6344 |
| Australian dollars |  | 5675 |  | 5675 |
| South Korean won |  | 5454 |  | 5454 |
| Hungarian forints |  | 3562 |  | 3562 |
| New Zealand dollars |  | 2523 |  | 2523 |
| Philippine pesos |  | 2249 |  | 2249 |
| Czech korunas |  | 1841 |  | 1841 |
| Chilean pesos |  | 1187 |  | 1187 |
| Norwegian kroner |  | 1067 |  | 1067 |
| Colombian pesos |  | 763 |  | 763 |
| Mexican pesos |  | 594 |  | 594 |
| Turkish lira |  | 209 |  | 209 |
| U.S. dollars |  | 18758 |  | 18758 |
| Short-term securities | 1241 |  |  | 1241 |
| Total | $1241 | $146974 | $— | $148215 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Unrealized appreciation on futures contracts  | $116 | $— | $— | $116 |
| Unrealized appreciation on open forward currency contracts  |  | 221 |  | 221 |
| Unrealized appreciation on centrally cleared interest rate swaps  |  | 48 |  | 48 |
| Unrealized appreciation on bilateral interest rate swaps  |  | 13 |  | 13 |
| Unrealized appreciation on centrally cleared credit default swaps  |  | 22 |  | 22 |
| Liabilities: |  |  |  |  |
| Unrealized depreciation on futures contracts  | (133)<br>|  |  | (133)<br>|
| Unrealized depreciation on open forward currency contracts  |  | (628)<br>|  | (628)<br>|
| Unrealized depreciation on centrally cleared interest rate swaps  |  | (34)<br>|  | (34)<br>|
| Unrealized depreciation on bilateral interest rate swaps  |  | (48)<br>|  | (48)<br>|
| Total | $(17)<br>| $(406)<br>| $— | $(423)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Futures contracts, forward currency contracts, interest rate swaps and credit default swaps are not included in the investment portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **288** |

---

------

**Municipal Income ETF** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Bonds, notes & other debt instruments: |  |  |  |  |
| Texas  | $— | $613639 | $510 | $614149 |
| New York  |  | 432458 |  | 432458 |
| California  |  | 421652 |  | 421652 |
| Illinois  |  | 302037 |  | 302037 |
| Alabama  |  | 272214 |  | 272214 |
| Florida  |  | 213461 |  | 213461 |
| Washington  |  | 166671 |  | 166671 |
| Colorado  |  | 143084 |  | 143084 |
| Pennsylvania  |  | 132065 |  | 132065 |
| Ohio  |  | 131492 |  | 131492 |
| Other  |  | 1635175 |  | 1635175 |
| Common stocks  |  |  | —<br> \*<br>| —<br> \*<br>|
| Short-term securities  |  | 321669 |  | 321669 |
| Total | $— | $4785617 | $510 | $4786127 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments**<sup>†</sup>  | **Other investments**<sup>†</sup>  | **Other investments**<sup>†</sup>  | **Other investments**<sup>†</sup>  |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Unrealized appreciation on futures contracts  | $254 | $— | $— | $254 |
| Liabilities: |  |  |  |  |
| Unrealized depreciation on futures contracts  | (163)<br>|  |  | (163)<br>|
| Total | $91 | $— | $— | $91 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| \*  | Amount less than one thousand. |
| <sup>†</sup> <br>| Futures contracts are not included in the investment portfolio. |

---

**Municipal High-Income ETF** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Bonds, notes & other debt instruments: |  |  |  |  |
| California  | $— | $226623 | $— | $226623 |
| Texas  |  | 207119 |  | 207119 |
| Colorado  |  | 174911 |  | 174911 |
| New York  |  | 172487 |  | 172487 |
| Illinois  |  | 156824 |  | 156824 |
| Florida  |  | 148962 |  | 148962 |
| Puerto Rico  |  | 134843 |  | 134843 |
| Wisconsin  |  | 121969 |  | 121969 |
| Pennsylvania  |  | 87707 |  | 87707 |
| Arizona  |  | 71569 |  | 71569 |
| Other  |  | 881488 |  | 881488 |
| Rights & warrants  |  |  | —<br> \*<br>| —<br> \*<br>|
| Short-term securities  |  | 70275 |  | 70275 |
| Total | $— | $2454777 | $—<br> \*<br>| $2454777 |
| \* Amount less than one thousand. |  |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **289** | Capital Group Fixed Income ETF Trust |

---

------

**Short Duration Income ETF** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Bonds, notes & other debt instruments: |  |  |  |  |
| Corporate bonds and notes  | $— | $731038 | $— | $731038 |
| Mortgage-backed obligations  |  | 608807 |  | 608807 |
| Asset-backed obligations  |  | 450899 |  | 450899 |
| U.S. Treasury bonds & notes  |  | 20072 |  | 20072 |
| Bonds & notes of governments & government agencies <br>outside the U.S. <br>|  | 6233 |  | 6233 |
| Loans  |  |  | 1681 | 1681 |
| Short-term securities  | 89376 |  |  | 89376 |
| Total | $89376 | $1817049 | $1681 | $1908106 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Unrealized appreciation on centrally cleared interest rate swaps  | $— | $3749 | $— | $3749 |
| Total | $— | $3749 | $— | $3749 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Interest rate swaps are not included in the investment portfolio.

**Short Duration Municipal Income ETF** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Bonds, notes & other debt instruments: |  |  |  |  |
| California  | $— | $128977 | $— | $128977 |
| Texas  |  | 87649 |  | 87649 |
| New York  |  | 63978 |  | 63978 |
| Florida  |  | 59319 |  | 59319 |
| Illinois  |  | 48830 |  | 48830 |
| Virginia  |  | 28787 |  | 28787 |
| North Carolina  |  | 28777 |  | 28777 |
| Kentucky  |  | 28756 |  | 28756 |
| Alabama  |  | 27648 |  | 27648 |
| Colorado  |  | 27338 |  | 27338 |
| Other  |  | 368175 |  | 368175 |
| Short-term securities  |  | 57440 |  | 57440 |
| Total | $— | $955674 | $— | $955674 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Unrealized appreciation on centrally cleared interest rate swaps  | $— | $393 | $— | $393 |
| Liabilities: |  |  |  |  |
| Unrealized depreciation on centrally cleared interest rate swaps  |  | (17)<br>|  | (17)<br>|
| Total | $— | $376 | $— | $376 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Interest rate swaps are not included in the investment portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **290** |

---

------

**Ultra Short Income ETF** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Bonds, notes & other debt instruments: |  |  |  |  |
| Corporate bonds and notes  | $— | $97117 | $— | $97117 |
| Asset-backed obligations  |  | 41517 |  | 41517 |
| Mortgage-backed obligations  |  | 7118 |  | 7118 |
| Short-term securities  |  | 40685 |  | 40685 |
| Total | $— | $186437 | $— | $186437 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Unrealized appreciation on centrally cleared interest rate swaps  | $— | $38 | $— | $38 |
| Total | $— | $38 | $— | $38 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Interest rate swaps are not included in the investment portfolio.

**U.S. Multi-Sector Income ETF** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Bonds, notes & other debt instruments: |  |  |  |  |
| Corporate bonds and notes  | $— | $2756069 | $394 | $2756463 |
| Mortgage-backed obligations  |  | 612987 |  | 612987 |
| Asset-backed obligations  |  | 305381 |  | 305381 |
| Loans  |  | 50159 | 408 | 50567 |
| U.S. Treasury bonds & notes  |  | 48747 |  | 48747 |
| Municipals  |  | 1882 |  | 1882 |
| Convertible bonds & notes  |  | 5271 |  | 5271 |
| Common stocks  | 209 |  | 1276 | 1485 |
| Short-term securities  | 97295 |  |  | 97295 |
| Options purchased on futures (equity style)  | 475 |  |  | 475 |
| Total | $97979 | $3780496 | $2078 | $3880553 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Unrealized appreciation on futures contracts  | $1185 | $— | $— | $1185 |
| Unrealized appreciation on open forward currency contracts  |  | 35 |  | 35 |
| Unrealized appreciation on centrally cleared interest rate swaps  |  | 19470 |  | 19470 |
| Unrealized appreciation on centrally cleared credit default swaps  |  | 457 |  | 457 |
| Liabilities: |  |  |  |  |
| Value of options written (equity style)  | (251)<br>|  |  | (251)<br>|
| Unrealized depreciation on futures contracts  | (516)<br>|  |  | (516)<br>|
| Unrealized depreciation on centrally cleared interest rate swaps  |  | (524)<br>|  | (524)<br>|
| Unrealized depreciation on centrally cleared credit default swaps  |  | (1)<br>|  | (1)<br>|
| Total | $418 | $19437 | $— | $19855 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Options written, futures contracts, forward currency contracts, interest rate swaps and credit default swaps are not included in the investment portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **291** | Capital Group Fixed Income ETF Trust |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**4. Risk factors**

------

Investing in each fund may involve certain risks including, but not limited to, those described below (as applicable).

**Market conditions** — The prices of, and the income generated by, the securities held by a fund may decline due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; and currency exchange rate, interest rate and commodity price fluctuations.

Economies and financial markets throughout the world are highly interconnected. Events (including public health emergencies, such as the spread of infectious disease), bank failures and other circumstances in one country or region could have impacts on global economies or markets. As a result, whether or not a fund invests in securities of issuers located in or with significant exposure to the countries affected, the value and liquidity of a 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 a 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 the issuer's financial condition or credit rating, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives and the market response to any such initiatives. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer.

**Investing in municipal securities** — Municipal securities are debt obligations that are exempt from federal, state and/or local income taxes. The yield and/or value of a fund's investments in municipal securities may be adversely affected by events tied to the municipal securities markets, which can be very volatile and significantly impacted by unfavorable legislative or political developments and negative changes in the financial conditions of municipal securities issuers and the economy. To the extent a fund invests in obligations of a municipal issuer, the volatility, credit quality and performance of a fund may be adversely impacted by local political and economic conditions of the issuer. For example, a credit rating downgrade, bond default or bankruptcy involving an issuer within a particular state or territory could affect the market values and marketability of many or all municipal obligations of that state or territory. Income from municipal securities held by a fund could also be declared taxable because of changes in tax laws or interpretations by taxing authorities or as a result of noncompliant conduct of a municipal issuer. Additionally, the relative amount of publicly available information about municipal securities is generally less than that for corporate securities.

**Investing in debt instruments** — The prices of, and the income generated by, bonds and other debt securities held by a fund may be affected by factors such as the interest rates, maturities and credit quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of callable debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change 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 a fund. Falling interest rates may cause an issuer to redeem, call or refinance a debt security before its stated maturity, which may result in a fund 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. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of a fund's securities could cause the net asset value of a 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **292** |

---

------

**Investing in cash equivalents** — Cash equivalents, such as commercial paper, asset-backed commercial paper, short term-bank obligations and corporate bonds and notes that mature or may be redeemed or mature within thirteen months or less, like other fixed income instruments are subject to interest rate risk. However, the short-term nature of a commercial paper investment makes it less susceptible to volatility than many other fixed income securities because interest rate risk typically increases as maturity lengths increase. Commercial paper is often unsecured, but may be supported by letters of credit or other forms of collateral. Maturing commercial paper are usually repaid by the issuer from the proceeds of new commercial paper issuances. As a result, investment in commercial paper is subject to rollover risk, or the risk that the issuer cannot issue enough new commercial paper to satisfy its outstanding commercial paper. As with all fixed income securities, there is a chance that the issuer will default on its short-term obligations and these securities may become illiquid or suffer from reduced liquidity in these or other situations.

**Investing in financials** — Under normal circumstances, a significant portion of a fund's portfolio will be comprised of securities issued by companies in the financials group of industries. As a result, a fund may be more susceptible to any economic, business, political or other developments which generally affect this group of industries. The profitability of many types of financial companies may be adversely affected in certain market cycles, including during periods of rising interest rates, which may restrict the availability and increase the cost of capital, and declining economic conditions, which may cause credit losses due to financial difficulties of borrowers. Because many types of financial companies are vulnerable to these economic cycles, a fund's investments may lose value during such periods.

**Investing in asset-backed securities** — Asset-backed securities include debt obligations that represent interests in pools of income-bearing assets, such as consumer loans or receivables. While such securities are subject to the risks associated with investments in debt instruments generally (for example, credit, extension and interest rate risks), they are also subject to other and different risks. Asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt, potentially increasing the volatility of the securities and a fund's net asset value. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the fund having to reinvest the proceeds in lower yielding securities, effectively reducing the fund's income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the asset-backed securities are paid off could be extended, reducing the fund's cash available for reinvestment in higher yielding securities. Asset-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations and the value of property that secures the asset may decline in value and be insufficient, upon foreclosure, to repay the associated loans.

**Currency transactions** — In addition to the risks generally associated with investing in derivative instruments, the use of forward currency contracts involves the risk that currency movements will not be accurately predicted by the investment adviser, which could result in losses to the fund. While entering into forward currency contracts could minimize the risk of loss due to a decline in the value of the hedged currency, it could also limit any potential gain that may result from an increase in the value of the currency. Additionally, the adviser may use forward currency contracts to increase exposure to a certain currency or to shift exposure to currency fluctuations from one country to another. Forward currency contracts may expose the fund to potential gains and losses in excess of the initial amount invested.

**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 or difficult to determine, 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 a fund may be unable to sell such holdings when necessary to meet its liquidity needs or to try to limit losses, or may be forced to sell at a loss. Depending on market conditions, reduced liquidity of fund holdings may also cause a fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV.

**Credit and liquidity support** — Changes in the credit quality of banks and financial institutions providing credit and liquidity support features with respect to securities held by a fund could cause the values of these securities to decline.

**Investing in lower rated debt instruments** — Lower rated debt securities or instruments, rated Ba1/BB+ or below by Nationally Recognized Statistical Rating Organizations (also known as "junk bonds"), 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. Investments in junk bonds can be considered speculative.

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|:---|:---|
| **293** | Capital Group Fixed Income ETF Trust |

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**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 tend to have less developed political, economic and legal systems than those in developed countries. Accordingly, the governments of these countries may be less stable and more likely to intervene in the market economy in a manner that could adversely affect the prices of securities. Information regarding issuers in emerging markets may be limited, incomplete or inaccurate, and such issuers may not be subject to regulatory, accounting, auditing, and financial reporting and recordkeeping standards comparable to those to which issuers in more developed markets are subject. A fund's rights with respect to its investments in emerging markets, if any, will generally be governed by local law, which may make it difficult or impossible for a fund to pursue legal remedies or to obtain and enforce judgments in local courts. In addition, the economies of these countries may be dependent on relatively few industries, may have limited access to capital and may be more susceptible to changes in local and global trade conditions and downturns in the world economy. 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, more vulnerable to market manipulation, and 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 a 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.

**Investing in mortgage-related and other asset-backed securities** — Mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, include debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as consumer loans or receivables. While such securities are subject to the risks associated with investments in debt instruments generally (for example, credit, extension and interest rate risks), they are also subject to other and different risks. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt, potentially increasing the volatility of the securities and a fund's net asset value. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in a fund having to reinvest the proceeds in lower yielding securities, effectively reducing a fund's income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing a fund's cash available for reinvestment in higher yielding securities. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations and the value of property that secures the mortgages may decline in value and be insufficient, upon foreclosure, to repay the associated loans. Investments in asset-backed securities are subject to similar risks.

**Investing in securities backed by the U.S. government** — U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates and the credit rating of the U.S. government. Notwithstanding that these securities are backed by the full faith and credit of the U.S. government, circumstances could arise that would prevent or delay the payment of interest or principal on these securities, which could adversely affect their value and cause the fund to suffer losses. Such an event could lead to significant disruptions in U.S. and global markets.

Securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government.

**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 a 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 in future delivery contracts** — A fund may enter into transactions involving future delivery contracts, such as to-be-announced (TBA) contracts and mortgage dollar rolls. These contracts involve the purchase or sale of mortgage-backed securities for settlement at a future date and predetermined price. When a fund enters into a TBA commitment for the sale of mortgage-backed securities (which may be referred to as having a short position in such TBA securities), the fund may or may not hold the types of mortgage-backed securities required to be delivered. A fund may choose to roll these transactions in lieu of settling them.

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|:---|:---|
| Capital Group Fixed Income ETF Trust | **294** |

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When a fund rolls the purchase of these types of future delivery transactions, the fund simultaneously sells the mortgage-backed securities for delivery in the current month and repurchases substantially similar securities for delivery at a future date at a predetermined price. When a fund rolls the sale of these transactions rather than settling them, the fund simultaneously purchases the mortgage-backed securities for delivery in the current month and sells substantially similar securities for delivery at a future date at a predetermined price. Such roll transactions can increase the turnover rate of a fund and may increase the risk that market prices may move unfavorably between the original and new contracts, potentially resulting in losses or reduced returns for the fund.

**Investing in futures contracts** — In addition to the risks generally associated with investing in derivative instruments, futures contracts are subject to the creditworthiness of the clearing organizations, exchanges and futures commission merchants with which the fund transacts. Additionally, although futures require only a small initial investment in the form of a deposit of initial margin, the amount of a potential loss on a futures contract could greatly exceed the initial amount invested. While futures contracts are generally liquid instruments, under certain market conditions futures may be deemed to be illiquid. For example, a fund may be temporarily prohibited from closing out its position in a futures contract if intraday price change limits or limits on trading volume imposed by the applicable futures exchange are triggered. If a fund is unable to close out a position on a futures contract, the fund would remain subject to the risk of adverse price movements until the fund is able to close out the futures position. The ability of a fund to successfully utilize futures contracts may depend in part upon the ability of the fund's investment adviser to accurately forecast interest rates and other economic factors and to assess and predict the impact of such economic factors on the futures in which the fund invests. If the investment adviser incorrectly forecasts economic developments or incorrectly predicts the impact of such developments on the futures in which it invests, the fund could suffer losses.

**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 cause a fund to lose significantly more than its initial investment. Derivatives may be difficult to value, difficult for a fund to buy or sell at an opportune time or price and difficult, or even impossible, to terminate or otherwise offset. A 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. A 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, a fund may be hindered or delayed in exercising remedies against or closing out derivative instruments with a counterparty, which may result in additional losses. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

**Exposure to country, region, industry or sector** — Subject to each fund's investment limitations, a fund may have significant exposure to a particular country, region, industry or sector. Such exposure may cause the fund to be more impacted by risks relating to and developments affecting the country, region, industry or sector, and thus its net asset value may be more volatile, than a fund without such levels of exposure. For example, if a fund has significant exposure in a particular country, then social, economic, regulatory or other issues that negatively affect that country may have a greater impact on the fund than on a fund that is more geographically diversified.

**Investing outside the U.S.** — Securities of issuers domiciled outside the U.S. or with significant operations or revenues outside the U.S. and securities tied economically to countries outside the U.S. may lose value because of adverse political, social, economic or market developments in the countries or regions in which the issuers are domiciled, operate or generate revenue or to which the securities are tied economically. 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, 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, auditing, financial reporting and recordkeeping 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. Further, there may be increased risks of delayed settlement of securities purchased or sold by a fund, which could impact the liquidity of the fund's portfolio.

**Currency** — The prices of, and the income generated by, many debt securities held by a 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 a fund's securities denominated in such currencies would generally fall and vice versa.

**Currency hedging risk** — A fund's use of forward currency contracts to hedge all or substantially all of the fund's foreign currency exposure could result in losses to the fund if currencies do not perform as expected. In addition, the reduction of a fund's exposure to currency risks limits a fund's ability to benefit from favorable changes in currency exchange rates. Currency markets generally are not as regulated as securities markets, and currency rates may experience volatility, which can reduce the fund's returns.

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|:---|:---|
| **295** | Capital Group Fixed Income ETF Trust |

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A fund's use of forward currency contracts to hedge all or substantially all of the fund's foreign currency exposure is intended to minimize the impact of currency fluctuations on fund returns; however, this strategy will not eliminate a fund's exposure to currency risk. The use of forward currency contracts will not entirely offset the fluctuations between a fund's exposure to non-U.S. currencies and the U.S. dollar. Additionally, there are transaction costs the fund will incur to hedge its foreign currency exposure. A fund's exposure to foreign currencies may not be hedged at all times, including at times when the fund is implementing a currency hedging transaction. Volatility of the U.S. dollar relative to the currencies being hedged will generally reduce the effectiveness of a fund's currency hedging transactions. Differences between U.S. dollar interest rates and foreign currency interest rates may also impact the effectiveness of the fund's currency hedging transactions.

**Investing in similar municipal bonds** — Investing significantly in municipal obligations of multiple issuers in the same state or backed by revenues of similar types of projects or industries may make a fund more susceptible to certain economic, political or regulatory occurrences. As a result, a fund has greater risk of volatility, and greater risk of loss, from these investments.

**Insured municipal bonds** – A fund may invest in municipal bonds that are insured generally as to the timely payment of interest and repayment of principal. Insurance that covers a municipal bond does not guarantee the market value of the bond or the prices of a fund's shares. Market conditions or changes to ratings criteria could adversely impact the ratings of municipal bond insurers. If the credit rating of the insurer were downgraded or withdrawn by rating agencies, this could have an adverse effect upon the credit rating of the insured bond and, therefore, its market value, despite the quality of the underlying issuer.

**Alternative minimum tax** — A fund may invest in securities, including in "private activity bonds," that may be subject to federal alternative minimum tax. Therefore, while a fund's distributions from tax-exempt securities are not subject to regular federal income tax, a portion or all of the distributions may be included in determining a shareholder's federal alternative minimum tax.

**Investing in debt securities of sovereign, quasi-sovereign and supranational entities** — While debt securities of sovereign, quasi-sovereign and supranational entities are subject to the risks associated with investments in debt instruments or foreign securities generally, they are also subject to other and different risks. A governmental or quasi-governmental entity may be unwilling or unable to pay interest and repay principal on its sovereign or quasi-sovereign debt, or otherwise meet its obligations when due, including for reasons such as the government's policy towards principal international lenders such as the International Monetary Fund or the political considerations to which the government may be subject. If such issuers default (or threaten to default), the indebtedness may be restructured and/or a moratorium on the payments of such indebtedness may be declared, in each case, without the approval of some or all debt holders. In the event of a default on sovereign or quasi-sovereign debt, a fund may also have limited legal recourse against the defaulting government entity.

A "supranational entity" is an entity established or financially supported by the governments of several countries to promote reconstruction, economic development or trade (for example, the World Bank). Generally, the governmental members of these entities make initial capital contributions to and may also commit to making additional contributions if the supranational entity is unable to repay its borrowings. There is no guarantee that one or more governmental members of a supranational entity will continue to make any necessary additional capital contributions, and if such contributions are not made, the entity may be unable to pay interest or repay principal on its debt securities.

**Interest rate risk** — The values and liquidity of the securities held by a fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. 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. A fund may invest in variable and floating rate securities. When a fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of a fund's shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low short-term interest rates, a fund may not be able to maintain a positive yield or total return and, in relatively low interest rate environments, there are heightened risks associated with rising interest rates.

**Portfolio turnover** — A fund may engage in frequent and active trading of its portfolio securities. Higher portfolio turnover may involve correspondingly greater transaction costs in the form of dealer spreads, brokerage commissions and other transaction costs on the sale of securities and on reinvestment in other securities. The sale of portfolio securities may also result in the realization of net capital gains, which are taxable when distributed to shareholders, unless the shareholder is exempt from taxation or the shareholder's account is tax-favored. These costs and tax effects may adversely affect a fund's returns to shareholders. A fund's portfolio turnover rate may vary from year to year, as well as within a year.

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|:---|:---|
| Capital Group Fixed Income ETF Trust | **296** |

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**Market trading** — The funds' shares are listed for trading on an exchange and are bought and sold on the secondary market at market prices. The market prices of fund shares are expected to fluctuate, in some cases materially, in response to changes in a fund's net asset value ("NAV"), the intraday value of a fund's holdings, and supply and demand for a fund's shares. The existence of significant market volatility, disruptions to creations and redemptions, or potential lack of an active trading market for fund shares and/or for the holdings of a fund (including through a trading halt), among other factors, may result in the shares trading significantly above (at a premium) or below (at a discount) to NAV and bid-ask spreads may widen. A bid-ask spread is the "spread" or difference between what investors are willing to pay for fund shares (the "bid" price) and the price at which the investors are willing to sell fund shares (the "ask" price). Purchasing a fund's shares when its market price is at a premium or selling a fund's shares when its market price is at a discount, may result in paying more than, or receiving less than, NAV, respectively.

Foreign securities held by a fund may be traded in markets that close at a different time than the exchange on which the fund's shares are listed. Liquidity in those securities may be reduced after the applicable closing times. Accordingly, during the time when a fund's exchange is open but after the applicable market closing, fixing or settlement times, bid-ask spreads on the fund's exchange and the corresponding premium or discount to the fund's NAV may widen.

**Authorized Participant concentration** — Only authorized participants may engage in creation or redemption transactions directly with a fund, and none of them is obligated to do so. A fund has a limited number of institutions that may act as authorized participants. In addition, to the extent that securities held by a fund are traded outside a collateralized settlement system, authorized participants may be required to post collateral on certain trades on an agency basis (on behalf of other market participants), which only a limited number of authorized participants may be able to do. If authorized participants exit the business or are unable to or elect not to engage in creation or redemption transactions, and no other authorized participant engages in such function, fund shares may trade at a premium or discount to the fund's net asset value and/or at wider intraday bid-ask spreads and possibly face trading halts or delisting.

**Nondiversification** — As nondiversified funds, each fund may invest a greater percentage of its assets in fewer issuers than a diversified fund. A fund that invests in a relatively smaller number of issuers is more susceptible to risks associated with a single economic, political, geographic or regulatory occurrence than a diversified fund. In addition, poor performance by a single issuer could adversely affect fund performance more than if a fund were invested in a larger number of issuers. The value of a fund's shares can be expected to fluctuate more than might be the case if the fund were more broadly diversified.

**Cash transactions** — Each fund currently expects to effect at least part of its creations and redemptions for cash rather than in-kind securities. When a fund effects redemptions partly or wholly for cash, rather than in-kind, the fund may have to sell portfolio securities at inopportune times in order to obtain the cash needed to meet redemption orders. If a fund realizes gains on these sales, the fund generally will be required to recognize a gain it might not otherwise have recognized, or to recognize such gain sooner than would otherwise be required if it were to distribute portfolio securities in-kind. This strategy may cause shareholders to be subject to tax from distributions to which they would not otherwise be subject. The use of cash creations and redemptions may also cause a fund's shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to the fund's NAV. As a result of such cash transactions, a fund could incur brokerage costs which, to the extent not offset by transaction fees that are payable by an authorized participant, may reduce the fund's NAV.

**Management** — The investment adviser to the funds actively manages the funds' investments. Consequently, the funds are 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 funds to lose value or their investment results to lag relevant benchmarks or other funds with similar objectives.

**5. Certain investment techniques**

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**Index-linked bonds** — Some of the funds have 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** — Some of the funds have entered into mortgage dollar roll transactions of TBA securities in which the fund sells a TBA mortgage-backed security to a counterparty and simultaneously enters into an agreement with the same counterparty to buy back a similar TBA security on a specific future date at a predetermined price. Mortgage dollar rolls are accounted for as purchase and sale transactions and may result in an increase to the fund's portfolio turnover rate. Portfolio turnover rates excluding and including mortgage dollar rolls are presented at the end of the fund's financial highlights tables.

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| **297** | Capital Group Fixed Income ETF Trust |

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**Loan transactions** — Some of the funds have 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** — Capital Group Core Plus Income ETF and Capital Group Municipal Income ETF have participated in transactions that involve unfunded commitments, which may obligate each fund to purchase new or additional bonds and/or purchase additional shares of the applicable issuer if certain contingencies are met. As of December 31, 2025, the maximum exposure from these unfunded commitments for Capital Group Core Plus Income ETF was $235,000 and Capital Group Municipal Income ETF was $189,000, respectively, which would represent less than 0.01% for Capital Group Core Plus Income ETF and 0.01% for Capital Group Municipal Income ETF respectively, of the net assets of each fund should such commitments become due.

**Option contracts** — Some of the funds have has entered into option contracts, which give the purchaser of the option, in return for a premium payment, the right to buy from (in the case of a call) or sell to (in the case of a put) the writer of the option the reference instrument underlying the option (or the cash value of the instrument underlying the option) at a specified exercise price. The writer of an option on a security has the obligation, upon exercise of the option, to cash settle or deliver the underlying currency or instrument upon payment of the exercise price (in the case of a call) or to cash settle or take delivery of the underlying currency or instrument and pay the exercise price (in the case of a put).

By purchasing a put option, the fund obtains the right (but not the obligation) to sell the currency or instrument underlying the option (or to deliver the cash value of the instrument underlying the option) at a specified exercise price. In return for this right, the fund pays the current market price, or the option premium, for the option. The fund may terminate its position in a put option by allowing the option to expire or by exercising the option. If the option is allowed to expire, the fund will lose the entire amount of the premium paid. If the option is exercised, the fund completes the sale of the underlying instrument (or cash settles) at the exercise price. The fund may also terminate a put option position by entering into opposing close-out transactions in advance of the option expiration date.

The features of call options are essentially the same as those of put options, except that the purchaser of a call option obtains the right (but not the obligation) to purchase, rather than sell, the underlying currency or instrument (or cash settle) at the specified exercise price. The buyer of a call option typically attempts to participate in potential price increases of the underlying currency or instrument with risk limited to the cost of the option if the price of the underlying currency or instrument falls. At the same time, the call option buyer can expect to suffer a loss if the price of the underlying currency or instrument does not rise sufficiently to offset the cost of the option.

The writer of a put or call option takes the opposite side of the transaction from the option purchaser. In return for receipt of the option premium, the writer assumes the obligation to pay or receive the exercise price for the option's underlying currency or instrument if the other party to the option chooses to exercise it. The writer may seek to terminate a position in a put option before exercise by entering into opposing close-out transactions in advance of the option expiration date. If the market for the relevant put option is not liquid, however, the writer must be prepared to pay the exercise price while the option is outstanding, regardless of price changes. Writing a call option obligates the writer to, upon exercise of the option, deliver the option's underlying currency or instrument in return for the exercise price or to make a net cash settlement payment, as applicable. The characteristics of writing call options are similar to those of writing put options, except that writing call options is generally a profitable strategy if prices remain the same or fall. The potential gain for the option seller in such a transaction would be capped at the premium received.

Option contracts can be either equity style (premium is paid in full when the option is opened) or futures style (premium moves as part of variation margin over the life of the option, and is paid in full when the option is closed). For equity style options, premiums paid on options purchased, as well as the daily fluctuation in market value, are included in investment securities in the fund's statement of asset and liabilities, and premiums received on options written, as well as the daily fluctuation in market value, are included in options written at value in the fund's statement of assets and liabilities. The net realized gains or losses and net unrealized appreciation or depreciation from equity style options are recorded in investments for purchased options and in options written for written options in the fund's statement of operations.

Option contracts can take different forms. Some of the funds have has entered into the following types of option contracts:

**Options on futures** — The fund has entered into options on futures contracts to seek to manage the fund's interest rate sensitivity by increasing or decreasing the duration of the fund or a portion of the fund's portfolio. An option on a futures contract gives the holder of the option the right to buy or sell a position in a futures contract from or to the writer of the option, at a specified price on or before the specified expiration date.

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| Capital Group Fixed Income ETF Trust | **298** |

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**Futures contracts** — Some of the funds have 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, each 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. Futures contracts may involve a risk of loss in excess of the variation margin shown on the fund's statement of assets and liabilities. Each 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.

**Forward currency contracts** — Some of the funds have 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 funds' investment adviser values forward currency contracts and records unrealized appreciation or depreciation for open forward currency contracts in each 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 each 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 each fund's statement of operations.

**Swap contracts** — Some of the funds have entered into swap agreements, which are two-party contracts entered into primarily by institutional investors for a specified time period. In a typical swap transaction, two parties agree to exchange the returns earned or realized from one or more underlying assets or rates of return. Swap agreements can be traded on a swap execution facility (SEF) and cleared through a central clearinghouse (cleared), traded over-the-counter (OTC) and cleared, or traded bilaterally and not cleared. Because clearing interposes a central clearinghouse as the ultimate counterparty to each participant's swap, and margin is required to be exchanged under the rules of the clearinghouse, central clearing is intended to decrease (but not eliminate) counterparty risk relative to uncleared bilateral swaps. To the extent the funds enter into bilaterally negotiated swap transactions, the funds will enter into swap agreements only with counterparties that meet certain credit standards and subject to agreed collateralized procedures. The term of a swap can be days, months or years and certain swaps may be less liquid than others.

Upon entering into a centrally cleared swap contract, the funds are 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 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 funds' statement of assets and liabilities for centrally cleared swaps and as unrealized appreciation or depreciation in the funds' statement of assets and liabilities for bilateral swaps. For centrally cleared swaps, the fund also pays or receives a variation margin based on the increase or decrease in the value of the swaps, including accrued interest as applicable, and records variation margin in the statement of assets and liabilities. The funds record 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 swaps are recorded in the fund's statement of operations.

Swap agreements can take different forms. Some of the funds have entered into the following types of swap agreements:

**Interest rate swaps** — Some of the funds have entered into interest rate swaps, which seek to manage the interest rate sensitivity of the fund by increasing or decreasing the duration of the fund or a portion of the funds' portfolio. An interest rate swap is an

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **299** | Capital Group Fixed Income ETF Trust |

---

------

agreement between two parties to exchange or swap payments based on changes in an interest rate or rates. Typically, one interest rate is fixed and the other is variable based on a designated short-term interest rate such as the Secured Overnight Financing Rate (SOFR), prime rate or other benchmark. In other types of interest rate swaps, known as basis swaps, the parties agree to swap variable interest rates based on different designated short-term interest rates. Interest rate swaps generally do not involve the delivery of securities or other principal amounts. Rather, cash payments are exchanged by the parties based on the application of the designated interest rates to a notional amount, which is the predetermined dollar principal of the trade upon which payment obligations are computed. Accordingly, the funds' current obligation or right under the swap agreement is generally equal to the net amount to be paid or received under the swap agreement based on the relative value of the position held by each party.

**Credit default swap indices** — Some of the funds have entered into centrally cleared credit default swap indices, including CDX and iTraxx indices (collectively referred to as "CDSIs"), in order to assume exposure to a diversified portfolio of credits or to hedge against existing credit risks. A CDSI is based on a portfolio of credit default swaps with similar characteristics, such as credit default swaps on high-yield bonds. In a typical CDSI transaction, one party (the protection buyer) is obligated to pay the other party (the protection seller) a stream of periodic payments over the term of the contract. If a credit event, such as a default or restructuring, occurs with respect to any of the underlying reference obligations, the protection seller must pay the protection buyer the loss on those credits.

The funds may enter into a CDSI transaction as either protection buyer or protection seller. If the funds are protected buyers, they would pay the counterparty a periodic stream of payments over the term of the contract and would not recover any of those payments if no credit events were to occur with respect to any of the underlying reference obligations. However, if a credit event did occur, the funds, as protection buyers, would have the right to deliver the referenced debt obligations or a specified amount of cash, depending on the terms of the applicable agreement, and to receive the par value of such debt obligations from the counterparty protection seller. As protection sellers, the funds would receive fixed payments throughout the term of the contract if no credit events were to occur with respect to any of the underlying reference obligations. If a credit event were to occur, however, the value of any deliverable obligation received by the funds, coupled with the periodic payments previously received by the funds, may be less than the full notional value that the funds, as protection sellers, pays to the counterparty protection buyer, effectively resulting in a loss of value to the funds. Furthermore, as protection sellers, the funds would effectively add leverage to its portfolio because it would have investment exposure to the notional amount of the swap transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **300** |

---

------

The following table presents the average month-end notional amounts of options on futures, futures contracts, forward currency contracts, interest rate swaps and credit default swaps while held for each fund (dollars in thousands):

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Options** <br>**on** <br>**futures**<br>| **Futures** <br>**contracts**<br>| **Forward** <br>**currency** <br>**contracts**<br>| **Interest** <br>**rate** <br>**swaps**<br>| **Credit** <br>**default** <br>**swaps**<br>|
| Core Bond ETF | Not applicable | &nbsp;&nbsp; $861958 | Not applicable | &nbsp;&nbsp; $106480 | &nbsp;&nbsp; $69026 |
| Core Plus Income ETF | Not applicable | &nbsp;&nbsp; 2731189 | &nbsp;&nbsp; $10220 | &nbsp;&nbsp; 1367210 | &nbsp;&nbsp; 85,000\* |
| High Yield Bond ETF | Not applicable | &nbsp;&nbsp; 4980 | Not applicable | Not applicable | Not applicable |
| International Bond ETF (USD-Hedged) | Not applicable | &nbsp;&nbsp; 48700 | &nbsp;&nbsp; 58813 | &nbsp;&nbsp; 78515 | &nbsp;&nbsp; 2825 |
| Municipal Income ETF | Not applicable | &nbsp;&nbsp; 223417 | Not applicable | Not applicable | Not applicable |
| Municipal High-Income ETF | Not applicable | &nbsp;&nbsp; 9,087\* | Not applicable | Not applicable | Not applicable |
| Short Duration Income ETF  | &nbsp;&nbsp; $15,335\* | &nbsp;&nbsp; 476,314\* | Not applicable | &nbsp;&nbsp; 316650 | Not applicable |
| Short Duration Municipal Income ETF | Not applicable | &nbsp;&nbsp; 33,675\* | Not applicable | &nbsp;&nbsp; 86185 | Not applicable |
| Ultra Short Income ETF | Not applicable | &nbsp;&nbsp; 3,218\* | Not applicable | &nbsp;&nbsp; 22457 | Not applicable |
| U.S. Multi-Sector Income ETF | &nbsp;&nbsp; 21662 | &nbsp;&nbsp; 479285 | &nbsp;&nbsp; 16401 | &nbsp;&nbsp; 839767 | &nbsp;&nbsp; 97529 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* No contracts were held at the end of the reporting period; amount represents the average month-end notional amount of contracts while they were held.

The following tables identify the location and fair value amounts on each fund's statement of assets and liabilities and the effect on each fund's statement of operations resulting from each fund's use of options contracts, futures contracts, forward currency contracts, interest rate swaps and/or credit default swaps as of, or for the year ended, December 31, 2025 (dollars in thousands):

**Core Bond ETF** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** |
| Futures | Interest | Unrealized appreciation\* | $121 | Unrealized depreciation\* | $4148 |
| Swap (centrally <br> cleared)<br>| Interest | Unrealized appreciation\* | 1 | Unrealized depreciation\* | 14 |
| Swap (centrally <br> cleared)<br>| Credit | Unrealized appreciation\* | 37 | Unrealized depreciation\* |  |
|  |  |  | $159 |  | $4162 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| $10546 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| $(219)<br>|
| Swap | Interest | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| (2848)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| 43 |
| Swap | Credit | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| 661 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| (13)<br>|
|  |  |  | $8359 |  | $(189)<br>|

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **301** | Capital Group Fixed Income ETF Trust |

---

------

**Core Plus Income ETF** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** |
| Futures | Interest | Unrealized appreciation\* | $1906 | Unrealized depreciation\* | $5000 |
| Forward currency | Currency | &nbsp;&nbsp; Unrealized appreciation on open <br> forward currency contracts<br>| 17 | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on open <br> forward currency contracts<br>|  |
| Swap (centrally <br> cleared)<br>| Interest | Unrealized appreciation\* | 9762 | Unrealized depreciation\* | 1873 |
|  |  |  | $11685 |  | $6873 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| $6605 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| $(4770)<br>|
| Forward currency | Currency | &nbsp;&nbsp; Net realized gain (loss) on forward <br> currency contracts<br>| (710)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) forward currency <br> contracts<br>| (147)<br>|
| Swap | Interest | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| (64081)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| 6866 |
| Swap | Credit | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| 1539 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>|  |
|  |  |  | $(56647)<br>|  | $1949 |

---

**High Yield Bond ETF** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** |
| Futures | Interest | Unrealized appreciation\* | $— | Unrealized depreciation\* | $6 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| $— | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| $(6)<br>|

---

**International Bond ETF (USD-Hedged)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** |
| Futures | Interest | Unrealized appreciation\* | $116 | Unrealized depreciation\* | $133 |
| Forward currency | Currency | &nbsp;&nbsp; Unrealized appreciation on open <br> forward currency contracts<br>| 221 | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on open <br> forward currency contracts<br>| 628 |
| Swap (centrally <br> cleared)<br>| Interest | Unrealized appreciation\* | 48 | Unrealized depreciation\* | 34 |
| Swap (bilateral) | Interest | Bilateral swaps, at value | 13 | Bilateral swaps, at value | 48 |
| Swap (centrally <br> cleared)<br>| Credit | Unrealized appreciation\* | 22 | Unrealized depreciation\* |  |
|  |  |  | $420 |  | $843 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **302** |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| $271 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| $(48)<br>|
| Forward currency | Currency | &nbsp;&nbsp; Net realized gain (loss) on forward <br> currency contracts<br>| (829)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) forward currency <br> contracts<br>| (1401)<br>|
| Swap | Interest | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| (282)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| 51 |
| Swap | Credit | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| 46 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| 25 |
|  |  |  | $(794)<br>|  | $(1373)<br>|

---

**Municipal Income ETF** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** |
| Futures | Interest | Unrealized appreciation\* | $254 | Unrealized depreciation\* | $163 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| $535 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| $91 |
| Swap | Interest | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| 765 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| (774)<br>|
|  |  |  | $1300 |  | $(683)<br>|

---

**Municipal High-Income ETF** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| $405 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| $— |

---

**Short Duration Income ETF** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** |
| Swap (centrally <br> cleared)<br>| Interest | Unrealized appreciation\* | $3749 | Unrealized depreciation\* | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **303** | Capital Group Fixed Income ETF Trust |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Options purchased <br> (equity style)<br>| Interest | &nbsp;&nbsp; Net realized gain (loss) on <br> investments<br>| $(165)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on investments<br>| $— |
| Options written <br> (equity style)<br>| Interest | &nbsp;&nbsp; Net realized gain (loss) on options <br> written<br>| 57 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on options written<br>|  |
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| (644)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| (160)<br>|
| Swap | Interest | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| (11593)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| 894 |
|  |  |  | $(12345)<br>|  | $734 |

---

**Short Duration Municipal Income ETF** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** |
| Swap (centrally <br> cleared)<br>| Interest | Unrealized appreciation\* | $393 | Unrealized depreciation\* | $17 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| $(138)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| $— |
| Swap | Interest | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| (593)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| 68 |
|  |  |  | $(731)<br>|  | $68 |

---

**Ultra Short Income ETF** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** |
| Swap (centrally <br> cleared)<br>| Interest | Unrealized appreciation\* | $38 | Unrealized depreciation\* | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| $(15)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| $(1)<br>|
| Swap | Interest | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| (223)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| 38 |
|  |  |  | $(238)<br>|  | $37 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **304** |

---

------

**U.S. Multi-Sector Income ETF** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** |
| Options purchased <br> (equity style)<br>| Interest | Investment securities | $475 | Investment securities | $— |
| Options written <br> (equity style)<br>| Interest | Options written, at value |  | Options written, at value | 251 |
| Futures | Interest | Unrealized appreciation\* | 1185 | Unrealized depreciation\* | 516 |
| Forward currency | Currency | &nbsp;&nbsp; Unrealized appreciation on open <br> forward currency contracts<br>| 35 | &nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on open <br> forward currency contracts<br>|  |
| Swap (centrally <br> cleared)<br>| Interest | Unrealized appreciation\* | 19470 | Unrealized depreciation\* | 524 |
| Swap (centrally <br> cleared)<br>| Credit | Unrealized appreciation\* | 457 | Unrealized depreciation\* | 1 |
|  |  |  | $21622 |  | $1292 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** | &nbsp;&nbsp;&nbsp;&nbsp; **Location on statement of** <br> **operations**<br>| **Value** |
| Options purchased <br> (equity style)<br>| Interest | &nbsp;&nbsp; Net realized gain (loss) on <br> investments<br>| $188 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on investments<br>| $(284)<br>|
| Options written <br> (equity style)<br>| Interest | &nbsp;&nbsp; Net realized gain (loss) on options <br> written<br>| (630)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on options written<br>| 132 |
| Futures | Interest | &nbsp;&nbsp; Net realized gain (loss) on futures <br> contracts<br>| 1923 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on futures contracts<br>| 669 |
| Forward currency | Currency | &nbsp;&nbsp; Net realized gain (loss) on forward <br> currency contracts<br>| (383)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) forward currency <br> contracts<br>| (46)<br>|
| Swap | Interest | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| (41660)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| 3474 |
| Swap | Credit | &nbsp;&nbsp; Net realized gain (loss) on swap <br> contracts<br>| 3744 | &nbsp;&nbsp;&nbsp;&nbsp; Net unrealized appreciation <br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation) on swap contracts<br>| 575 |
|  |  |  | $(36818)<br>|  | $4520 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Includes cumulative appreciation/depreciation on futures contracts, centrally cleared interest rate swaps and/or centrally cleared credit default swaps as reported in the applicable tables following each fund's investment portfolio. Only current day's variation margin is reported within each fund's statement of assets and liabilities. 

**Collateral** — Some funds either receive or pledge highly liquid assets, such as cash or U.S. government securities, as collateral due to their use of options contracts, futures contracts, forward currency contracts, interest rate swaps, credit default swaps and/or future delivery contracts. For options on futures, futures contracts, centrally cleared interest rate swaps and centrally cleared credit default swaps, the fund pledges collateral for initial and variation margin by contract. For forward currency contracts and bilateral swaps, the program calls for each participating fund to either receive or pledge collateral based on the net gain or loss on unsettled contracts by counterparty. For future delivery contracts, the program calls for each participating fund to either receive or pledge 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 each participating fund, if any, is disclosed in each fund's investment portfolio, and cash collateral pledged by each participating fund, if any, is held in a segregated account with the fund's custodian, which is reflected as pledged cash collateral in each fund's statement of assets and liabilities.

**Rights of offset** — Funds that hold forward currency contracts and/or bilateral interest rate swaps have enforceable master netting agreements with certain counterparties, where amounts payable by each party to the other in the same currency (with the same settlement date and with the same counterparty) are settled net of 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 funds do not offset financial assets and financial liabilities that are subject to these master netting arrangements in the statements of assets and liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **305** | Capital Group Fixed Income ETF Trust |

---

------

The following tables present each fund's forward currency contracts and bilateral interest rate swaps by counterparty that are subject to master netting agreements but that are not offset in the funds' statement of assets and liabilities. The net amount column shows the impact of offsetting on the funds' statement of assets and liabilities as of December 31, 2025, if close-out netting was exercised (dollars in thousands):

**Core Plus Income ETF** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Gross amounts** <br>**recognized in the** <br>**statement of assets** <br>**and liabilities** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**amount** |
| **Counterparty** | **Gross amounts** <br>**recognized in the** <br>**statement of assets** <br>**and liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Available** <br>**to offset**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Non-cash** <br>**collateral\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cash** <br>**collateral\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**amount** |
| Assets: |  |  |  |  |  |
| Citibank | &nbsp;&nbsp; $17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $17 |

---

**International Bond ETF (USD-Hedged)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Gross amounts** <br>**recognized in the** <br>**statement of assets** <br>**and liabilities** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**amount** |
| **Counterparty** | **Gross amounts** <br>**recognized in the** <br>**statement of assets** <br>**and liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Available** <br>**to offset**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Non-cash** <br>**collateral\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cash** <br>**collateral\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**amount** |
| Assets: |  |  |  |  |  |
| BNP Paribas | &nbsp;&nbsp; $1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— |
| Citibank | &nbsp;&nbsp; 162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (87)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75 |
| Goldman Sachs | &nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| HSBC Bank | &nbsp;&nbsp; 48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (30)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18 |
| JPMorgan Chase Bank | &nbsp;&nbsp; — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Morgan Stanley | &nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Standard Chartered Bank | &nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Total | &nbsp;&nbsp; $234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(141)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $93 |
| Liabilities: |  |  |  |  |  |
| Bank of New York | &nbsp;&nbsp; $17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $17 |
| Barclays Bank PLC | &nbsp;&nbsp; 54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54 |
| BNP Paribas | &nbsp;&nbsp; 41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40 |
| Citibank | &nbsp;&nbsp; 87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (87)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Goldman Sachs | &nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96 |
| HSBC Bank | &nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (30)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| JPMorgan Chase Bank | &nbsp;&nbsp; 117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117 |
| Morgan Stanley | &nbsp;&nbsp; 106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101 |
| Standard Chartered Bank | &nbsp;&nbsp; 38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34 |
| UBS AG | &nbsp;&nbsp; 76 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (76)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Total | &nbsp;&nbsp; $676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(141)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(76)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $459 |

---

**U.S. Multi-Sector Income ETF** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Gross amounts** <br>**recognized in the** <br>**statement of assets** <br>**and liabilities** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**amount** |
| **Counterparty** | **Gross amounts** <br>**recognized in the** <br>**statement of assets** <br>**and liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Available** <br>**to offset**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Non-cash** <br>**collateral\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cash** <br>**collateral\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**amount** |
| Assets: |  |  |  |  |  |
| HSBC Bank | &nbsp;&nbsp; $35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $35 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| \* | Collateral is shown on a settlement basis. |
| † | Amount less than one thousand. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **306** |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**6. Taxation and distributions**

------

**Federal income taxation** — Each fund complies with the requirements under Subchapter M of the Internal Revenue Code applicable to regulated investment companies and intends to distribute substantially all of its net taxable income and net capital gains each year. The funds are 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 year ended December 31, 2025, none of the funds had a liability for any unrecognized tax benefits. Each fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in their respective statements of operations. During the year, none of the funds incurred any significant interest or penalties.

Each 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, if any, are recorded net of non-U.S. taxes paid. The funds 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 funds on the sale of securities in certain countries, if any, may be subject to non-U.S. taxes. The funds generally record an estimated deferred tax liability based on unrealized gains to provide for potential non-U.S. taxes payable upon the sale of these securities.

**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; paydowns on fixed-income securities; net capital losses; 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 funds for financial reporting purposes. The funds may also designate a portion of the amount paid to redeeming shareholders as a distribution for tax purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **307** | Capital Group Fixed Income ETF Trust |

---

------

Additional tax basis disclosures for each fund as of December 31, 2025, were as follows (dollars in thousands):

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Core** <br>**Bond** <br>**ETF**<br>| **Core Plus** <br>**Income** <br>**ETF**<br>| **High Yield** <br>**Bond** <br>**ETF**<br>| **International** <br>**Bond ETF** <br>**(USD-Hedged)**<br>| **Municipal** <br>**Income** <br>**ETF**<br>|
| Undistributed tax-exempt income | &nbsp;&nbsp; $— | $— | $— | $— | $5443 |
| Undistributed ordinary income | &nbsp;&nbsp; 812 | 2697 | — <br><sup>1</sup><br>|  | 61 |
| Late year ordinary loss deferral<sup>2</sup> <br>| &nbsp;&nbsp; — |  |  | 1516 |  |
| Undistributed long-term capital gains | &nbsp;&nbsp; — |  |  |  |  |
| Capital loss carryforward<sup>3</sup> <br>| &nbsp;&nbsp; (8486)<br>| (53805)<br>|  | (71)<br>| (2396)<br>|
| Capital loss carryforward utilized | &nbsp;&nbsp; 4427 |  |  |  |  |
| Gross unrealized appreciation on investments | &nbsp;&nbsp; 37797 | 107350 | 1013 | 3424 | 75525 |
| Gross unrealized depreciation on investments | &nbsp;&nbsp; (5884)<br>| (50171)<br>| (342)<br>| (1623)<br>| (7532)<br>|
| Net unrealized appreciation (depreciation) on investments | &nbsp;&nbsp; 31913 | 57179 | 671 | 1801 | 67993 |
| Cost of investments | &nbsp;&nbsp; 3634496 | 6645795 | 51643 | 146260 | 4718225 |
| Reclassification from (to) total distributable earnings/ <br>accumulated loss to (from) capital paid in on shares of <br>beneficial interest<br>| &nbsp;&nbsp; 10191 | 9193 |  |  | 866 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>1</sup> Amount less than one thousand.

<sup>2</sup> This deferral is considered incurred in the subsequent year.

<sup>3</sup> Each fund's capital loss carryforward will be used to offset any capital gains realized by the fund in future years. Funds with a capital loss carryforward will not make distributions from capital gains while a capital loss carryforward remains. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Municipal** <br>**High-Income** <br>**ETF**<br>| **Short Duration** <br>**Income** <br>**ETF**<br>| **Short Duration** <br>**Municipal** <br> **Income** <br>**ETF**<br>| **Ultra Short** <br>**Income** <br>**ETF**<br>| **U.S.** <br> **Multi-Sector** <br>**Income** <br>**ETF**<br>|
| Undistributed tax-exempt income | &nbsp;&nbsp; $2145 | $— | $852 | $— | $— |
| Undistributed ordinary income | &nbsp;&nbsp; 2076 | 426 | 24 | 52 | 2358 |
| Late year ordinary loss deferral<sup>2</sup> <br>| &nbsp;&nbsp; — |  |  |  |  |
| Undistributed long-term capital gains | &nbsp;&nbsp; 374 |  | 88 |  |  |
| Capital loss carryforward<sup>3</sup> <br>| &nbsp;&nbsp; — | (836)<br>|  | (91)<br>| (3608)<br>|
| Capital loss carryforward utilized | &nbsp;&nbsp; 14 | 1781 | 69 |  |  |
| Gross unrealized appreciation on investments | &nbsp;&nbsp; 70502 | 22287 | 9910 | 402 | 93680 |
| Gross unrealized depreciation on investments | &nbsp;&nbsp; (3475)<br>| (1823)<br>| (202)<br>| (24)<br>| (47084)<br>|
| Net unrealized appreciation (depreciation) on investments | &nbsp;&nbsp; 67027 | 20464 | 9708 | 378 | 46596 |
| Cost of investments | &nbsp;&nbsp; 2387750 | 1891391 | 946342 | 186097 | 3860971 |
| Reclassification from (to) total distributable earnings/ <br>accumulated loss to (from) capital paid in on shares of <br>beneficial interest<br>| &nbsp;&nbsp; 1158 | 330 | 214 | 59 | 1678 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>2</sup> This deferral is considered incurred in the subsequent year.

<sup>3</sup> Each fund's capital loss carryforward will be used to offset any capital gains realized by the fund in future years. Funds with a capital loss carryforward will not make distributions from capital gains while a capital loss carryforward remains. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **308** |

---

------

Distributions paid by each fund were characterized for tax purposes as follows (dollars in thousands):

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| <br>**Fund** | **Ordinary** <br>**income**<br>| **Tax-exempt** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>| **Ordinary** <br>**income**<br>| **Tax-exempt** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Core Bond ETF | $113910 | $— | $— | $113910 | &nbsp;&nbsp; $33238 | $— | $— | $33238 |
| Core Plus <br>Income ETF<br>| 274566 |  |  | 274566 | &nbsp;&nbsp; 143463 |  |  | 143463 |
| High Yield Bond <br> ETF<br>| 1,608<br> \*<br>|  |  | 1,608<br> \*<br>|  |  |  |  |
| International <br> Bond ETF <br> (USD-Hedged)<br>| 2571 |  | 52 | 2623 | &nbsp;&nbsp; 738 <br><sup>†</sup><br>|  | 85 <br><sup>†</sup><br>| 823 <br><sup>†</sup><br>|
| Municipal <br>Income ETF<br>|  | 122400 |  | 122400 | &nbsp;&nbsp; — | 49415 |  | 49415 |
| Municipal <br> High-Income <br> ETF<br>|  | 39939 |  | 39939 | &nbsp;&nbsp; — | 1137 <br><sup>†</sup><br>|  | 1137 <br><sup>†</sup><br>|
| Short Duration <br>Income ETF<br>| 63573 |  |  | 63573 | &nbsp;&nbsp; 27757 |  |  | 27757 |
| Short Duration <br> Municipal <br> Income ETF<br>|  | 23144 |  | 23144 | &nbsp;&nbsp; — | 8036 |  | 8036 |
| Ultra Short <br> Income ETF<br>| 3379 |  | 4 | 3383 | &nbsp;&nbsp; 846 <br><sup>†</sup><br>|  | 11 <br><sup>†</sup><br>| 857 <br><sup>†</sup><br>|
| U.S. Multi-Sector <br>Income ETF<br>| 182781 |  |  | 182781 | &nbsp;&nbsp; 64695 |  |  | 64695 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* For the period June 24, 2025, commencement of operations, through December 31, 2025. <br> <sup>†</sup> For the period June 25, 2024, commencement of operations, through December 31, 2024.

**7. Fees and transactions**

------

CRMC, the funds' investment adviser, is the parent company of Capital Client Group, Inc. ("CCG"), the principal underwriter of the funds' shares. CRMC and CCG are considered related parties to the funds.

**Investment advisory services** – Each fund has an investment advisory and service agreement with CRMC that provides for monthly fees, accrued daily. These fees are based on an annual rate of daily net assets as follows:

---

| | |
|:---|:---|
| **Fund**  | **Annual rate**  |
| Core Bond ETF | 0.27<br> %<br>|
| Core Plus Income ETF | 0.34 |
| High Yield Bond ETF | 0.39 |
| International Bond ETF (USD-Hedged) | 0.45 |
| Municipal Income ETF | 0.27 |
| Municipal High-Income ETF | 0.34 |
| Short Duration Income ETF  | 0.25 |
| Short Duration Municipal Income ETF | 0.25 |
| Ultra Short Income ETF | 0.18 |
| U.S. Multi-Sector Income ETF | 0.39 |

---

Under the terms of the agreements, in addition to providing investment advisory services, the investment adviser and its affiliates provide certain administrative services to help assist third parties providing non-distribution services to the funds' shareholders. These services include providing in-depth information on each fund and market developments that impact each fund's investments. The agreement provides that the investment adviser will pay all ordinary operating expenses of each fund other than management fees, interest expenses, taxes, acquired fund fees and expenses, costs of holding shareholder meetings, legal fees and expenses relating to arbitration or litigation, payments under each fund's plan of distribution (if any) and other non-routine or extraordinary expenses. Additionally, each fund will be responsible for its non-operating expenses, including brokerage commissions and fees and expenses associated with the fund's securities lending program, if applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **309** | Capital Group Fixed Income ETF Trust |

---

------

**Transfer agency and administration services** – Each fund has entered into a transfer agency and service agreement and an administration agreement with State Street Bank and Trust Company ("State Street"). Under the terms of the transfer agency agreement, State Street (or an agent, including an affiliate) acts as transfer agent and dividend disbursing agent for each fund. Under the terms of the administration agreement, State Street provides necessary administrative, legal, tax and accounting, regulatory and financial reporting services for the maintenance and operations of each fund. The investment adviser bears the costs of services under these agreements.

**Affiliated officers and trustees** – Officers and certain trustees of each fund are or may be considered to be affiliated with CRMC and CCG. No affiliated officers or trustees received any compensation directly from any of the funds.

**Investment in CCF** — Each 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 each fund's short-term investments. CCF shares are only available for purchase by CRMC, its affiliates, and other funds managed by CRMC. CCF shares are not available to the public. CRMC does not receive an investment advisory services fee from CCF.

**Security transactions with related funds** — Each fund may purchase from, or sell securities to, other CRMC-managed funds (or funds managed by certain affiliates of CRMC) under procedures adopted by each 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. When such transactions occur, each transaction is executed at the current market price of the security and no brokerage commissions or fees are paid in accordance with Rule 17a-7 of the 1940 Act. The following table presents purchase and sale transactions between each fund and related funds, and net realized gain or loss from such sales, if any, as of December 31, 2025 (dollars in thousands):

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Purchases** | **Sales** | &nbsp;&nbsp;&nbsp; **Net** <br>**realized** <br>**gain (loss)**<br>|
| Municipal Income ETF | &nbsp;&nbsp; $10155 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $—<br>|
| Municipal High-Income ETF | &nbsp;&nbsp; 1597803 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Short Duration Municipal Income ETF | &nbsp;&nbsp; 5689 | &nbsp;&nbsp;&nbsp;&nbsp; 2477 | &nbsp;&nbsp;&nbsp;&nbsp; (98) <br>|

---

**Interfund lending** — Pursuant to an exemptive order issued by the SEC, the funds, 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. None of the funds lent or borrowed cash through the interfund lending program at any time during the year ended December 31, 2025.

**8. Indemnifications**

------

Each 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, each fund may also enter into contracts that provide general indemnifications. Each fund's maximum exposure under these arrangements is unknown since it is dependent on future claims that may be made against each fund. The risk of material loss from such claims is considered remote. Insurance policies are also available to each fund's board members and officers.

**9. Capital share transactions**

------

Each fund issues and redeems shares at NAV only with certain authorized participants in large increments known as creation units. Purchases of creation units are made by tendering a basket of designated securities and cash to a fund, and redemption proceeds are paid with a basket of securities from a fund's portfolio with a balancing cash component to equate the market value of the basket of securities delivered or redeemed to the NAV per creation unit on the transaction date. The funds may issue creation units to authorized participants in advance of the delivery and settlement of all or a portion of the designated securities. When this occurs, the authorized participant provides cash collateral in an amount equal to 105% of the daily marked to market value of the securities that have not yet been delivered to the fund. Cash may be substituted equivalent to the value of certain securities generally when they are not available in sufficient quantity for delivery. Realized gains or losses resulting from redemptions of shares in-kind, if any, are reflected separately in each fund's statement of operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **310** |

---

------

Each fund's shares are available in smaller increments to investors in the secondary market at market prices and may be subject to commissions. Authorized participants pay a transaction fee to the shareholder servicing agent when purchasing and redeeming creation units of a fund. The transaction fee is used to defray the costs associated with the issuance and redemption of creation units. In addition, for cash creation unit transactions, a variable fee for creation transactions and redemption transactions may be charged to the authorized participant to cover certain brokerage, tax, foreign exchange, execution, market impact and other costs and expenses related to the execution of trades. Variable fees, if any, are included in capital share transactions in each fund's statement of changes in net assets.

Capital share transactions in each fund were as follows (dollars and shares in thousands):

**Core Bond ETF** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Sales** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Sales** | **Reinvestments of** <br>**distributions**  | **Reinvestments of** <br>**distributions**  | **Repurchases** | **Repurchases** | **Net increase (decrease)** | **Net increase (decrease)** |
| **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** |
| $2646065 | 100560 | &nbsp;&nbsp;&nbsp; $— |  | &nbsp;&nbsp;&nbsp; $(633210)<br>| (24000)<br>| &nbsp;&nbsp;&nbsp; $2012855 | 76560 |
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| $1523500 | 58080 | &nbsp;&nbsp;&nbsp; $— |  | &nbsp;&nbsp;&nbsp; $(11366)<br>| (420)<br>| &nbsp;&nbsp;&nbsp; $1512134 | 57660 |

---

**Core Plus Income ETF** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Sales** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Sales** | **Reinvestments of** <br>**distributions**  | **Reinvestments of** <br>**distributions**  | **Repurchases** | **Repurchases** | **Net increase (decrease)** | **Net increase (decrease)** |
| **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** |
| $2630079 | 116760 | &nbsp;&nbsp;&nbsp; $— |  | &nbsp;&nbsp;&nbsp; $(210670)<br>| (9300)<br>| &nbsp;&nbsp;&nbsp; $2419409 | 107460 |
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| $2572239 | 113820 | &nbsp;&nbsp;&nbsp; $— |  | &nbsp;&nbsp;&nbsp; $(74594)<br>| (3240)<br>| &nbsp;&nbsp;&nbsp; $2497645 | 110580 |

---

**High Yield Bond ETF** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Sales** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Sales** | **Reinvestments of** <br>**distributions**  | **Reinvestments of** <br>**distributions**  | **Repurchases** | **Repurchases** | **Net increase (decrease)** | **Net increase (decrease)** |
| **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **For the period June 24, 2025\*, through December 31, 2025** | **For the period June 24, 2025\*, through December 31, 2025** | **For the period June 24, 2025\*, through December 31, 2025** | **For the period June 24, 2025\*, through December 31, 2025** | **For the period June 24, 2025\*, through December 31, 2025** | **For the period June 24, 2025\*, through December 31, 2025** | **For the period June 24, 2025\*, through December 31, 2025** | **For the period June 24, 2025\*, through December 31, 2025** |
| &nbsp;&nbsp; $52527 | &nbsp;&nbsp; 2100 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $52527 | &nbsp;&nbsp; 2100 |

---

**International Bond ETF (USD-Hedged)** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Sales** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Sales** | **Reinvestments of** <br>**distributions**  | **Reinvestments of** <br>**distributions**  | **Repurchases** | **Repurchases** | **Net increase (decrease)** | **Net increase (decrease)** |
| **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** |
| &nbsp;&nbsp; $100740 | &nbsp;&nbsp; 3960 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $100740 | &nbsp;&nbsp; 3960 |
| **For the period June 25, 2024\*, through December 31, 2024** | **For the period June 25, 2024\*, through December 31, 2024** | **For the period June 25, 2024\*, through December 31, 2024** | **For the period June 25, 2024\*, through December 31, 2024** | **For the period June 25, 2024\*, through December 31, 2024** | **For the period June 25, 2024\*, through December 31, 2024** | **For the period June 25, 2024\*, through December 31, 2024** | **For the period June 25, 2024\*, through December 31, 2024** |
| &nbsp;&nbsp; $49500 | &nbsp;&nbsp; 1980 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $49500 | &nbsp;&nbsp; 1980 |

---

**Municipal Income ETF** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Sales** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Sales** | **Reinvestments of** <br>**distributions**  | **Reinvestments of** <br>**distributions**  | **Repurchases** | **Repurchases** | **Net increase (decrease)** | **Net increase (decrease)** |
| **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** |
| $2111536 | 78300 | &nbsp;&nbsp;&nbsp; $— |  | &nbsp;&nbsp;&nbsp; $(49567)<br>| (1860)<br>| &nbsp;&nbsp;&nbsp; $2061969 | 76440 |
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| $2213972 | 81780 | &nbsp;&nbsp;&nbsp; $— |  | &nbsp;&nbsp;&nbsp; $(47401)<br>| (1740)<br>| &nbsp;&nbsp;&nbsp; $2166571 | 80040 |

---

Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **311** | Capital Group Fixed Income ETF Trust |

---

------

**Municipal High-Income ETF** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Sales** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Sales** | **Reinvestments of** <br>**distributions**  | **Reinvestments of** <br>**distributions**  | **Repurchases** | **Repurchases** | **Net increase (decrease)** | **Net increase (decrease)** |
| **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** |
| $2360619 | 95800 | &nbsp;&nbsp;&nbsp; $— |  | &nbsp;&nbsp;&nbsp; $(35328)<br>| (1400)<br>| &nbsp;&nbsp;&nbsp; $2325291 | 94400 |
| **For the period June 25, 2024\*, through December 31, 2024** | **For the period June 25, 2024\*, through December 31, 2024** | **For the period June 25, 2024\*, through December 31, 2024** | **For the period June 25, 2024\*, through December 31, 2024** | **For the period June 25, 2024\*, through December 31, 2024** | **For the period June 25, 2024\*, through December 31, 2024** | **For the period June 25, 2024\*, through December 31, 2024** | **For the period June 25, 2024\*, through December 31, 2024** |
| $87344 | 3450 | &nbsp;&nbsp;&nbsp; $— |  | &nbsp;&nbsp;&nbsp; $(2549)<br>| (100)<br>| &nbsp;&nbsp;&nbsp; $84795 | 3350 |

---

**Short Duration Income ETF** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Sales** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Sales** | **Reinvestments of** <br>**distributions**  | **Reinvestments of** <br>**distributions**  | **Repurchases** | **Repurchases** | **Net increase (decrease)** | **Net increase (decrease)** |
| **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** |
| $1003883 | 38760 | &nbsp;&nbsp;&nbsp; $— |  | &nbsp;&nbsp;&nbsp; $(23203)<br>| (900)<br>| &nbsp;&nbsp;&nbsp; $980680 | 37860 |
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| $559137 | 21840 | &nbsp;&nbsp;&nbsp; $— |  | &nbsp;&nbsp;&nbsp; $(20149)<br>| (780)<br>| &nbsp;&nbsp;&nbsp; $538988 | 21060 |

---

**Short Duration Municipal Income ETF** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Sales** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Sales** | **Reinvestments of** <br>**distributions**  | **Reinvestments of** <br>**distributions**  | **Repurchases** | **Repurchases** | **Net increase (decrease)** | **Net increase (decrease)** |
| **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** |
| &nbsp;&nbsp; $400782 | &nbsp;&nbsp; 15300 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $(11050)<br>| &nbsp;&nbsp; (420)<br>| &nbsp;&nbsp;&nbsp; $389732 | &nbsp;&nbsp; 14880 |
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| &nbsp;&nbsp; $514066 | &nbsp;&nbsp; 19800 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $(6226)<br>| &nbsp;&nbsp; (240)<br>| &nbsp;&nbsp;&nbsp; $507840 | &nbsp;&nbsp; 19560 |

---

**Ultra Short Income ETF** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Sales** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Sales** | **Reinvestments of** <br>**distributions**  | **Reinvestments of** <br>**distributions**  | **Repurchases** | **Repurchases** | **Net increase (decrease)** | **Net increase (decrease)** |
| **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** |
| &nbsp;&nbsp; $194069 | &nbsp;&nbsp; 7680 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $(42378)<br>| &nbsp;&nbsp; (1680)<br>| &nbsp;&nbsp;&nbsp; $151691 | &nbsp;&nbsp; 6000 |
| **For the period June 25, 2024\*, through December 31, 2024** | **For the period June 25, 2024\*, through December 31, 2024** | **For the period June 25, 2024\*, through December 31, 2024** | **For the period June 25, 2024\*, through December 31, 2024** | **For the period June 25, 2024\*, through December 31, 2024** | **For the period June 25, 2024\*, through December 31, 2024** | **For the period June 25, 2024\*, through December 31, 2024** | **For the period June 25, 2024\*, through December 31, 2024** |
| &nbsp;&nbsp; $34531 | &nbsp;&nbsp; 1380 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $34531 | &nbsp;&nbsp; 1380 |

---

**U.S. Multi-Sector Income ETF** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Sales** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**Sales** | **Reinvestments of** <br>**distributions**  | **Reinvestments of** <br>**distributions**  | **Repurchases** | **Repurchases** | **Net increase (decrease)** | **Net increase (decrease)** |
| **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** | **Year ended December 31, 2025** |
| $2001585 | 72660 | &nbsp;&nbsp;&nbsp; $— |  | &nbsp;&nbsp;&nbsp; $(58752)<br>| (2160)<br>| &nbsp;&nbsp;&nbsp; $1942833 | 70500 |
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| $1575085 | 57600 | &nbsp;&nbsp;&nbsp; $— |  | &nbsp;&nbsp;&nbsp; $— |  | &nbsp;&nbsp;&nbsp; $1575085 | 57600 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Commencement of operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **312** |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**10. Investment transactions and other disclosures**

------

The following table presents purchases and sales of investments, excluding in-kind transactions, short-term securities and U.S. government obligations, if any, during the year ended December 31, 2025 (dollars in thousands):

---

| | | |
|:---|:---|:---|
| **Fund** | **Purchases** | **Sales** |
| Core Bond ETF | &nbsp;&nbsp; $659681 | &nbsp;&nbsp;&nbsp;&nbsp; $265479 |
| Core Plus Income ETF | &nbsp;&nbsp; 1585803 | &nbsp;&nbsp;&nbsp;&nbsp; 753656 |
| High Yield Bond ETF | &nbsp;&nbsp; 22520 | &nbsp;&nbsp;&nbsp;&nbsp; 16755 |
| International Bond ETF (USD-Hedged) | &nbsp;&nbsp; 177591 | &nbsp;&nbsp;&nbsp;&nbsp; 95174 |
| Municipal Income ETF | &nbsp;&nbsp; 2326564 | &nbsp;&nbsp;&nbsp;&nbsp; 873627 |
| Municipal High-Income ETF | &nbsp;&nbsp; 2363839 | &nbsp;&nbsp;&nbsp;&nbsp; 136327 |
| Short Duration Income ETF  | &nbsp;&nbsp; 694577 | &nbsp;&nbsp;&nbsp;&nbsp; 314929 |
| Short Duration Municipal Income ETF | &nbsp;&nbsp; 680267 | &nbsp;&nbsp;&nbsp;&nbsp; 355622 |
| Ultra Short Income ETF | &nbsp;&nbsp; 86083 | &nbsp;&nbsp;&nbsp;&nbsp; 37244 |
| U.S. Multi-Sector Income ETF | &nbsp;&nbsp; 1511202 | &nbsp;&nbsp;&nbsp;&nbsp; 958512 |

---

The following table presents the value of securities received and delivered in-kind from the authorized participants to support creation and redemption transactions, if any, during the year ended December 31, 2025 (dollars in thousands):

---

| | | |
|:---|:---|:---|
| **Fund**  | **In-kind creations** | **In-kind redemptions** |
| Core Bond ETF | &nbsp;&nbsp; $1257825 | &nbsp;&nbsp;&nbsp;&nbsp; $623351 |
| Core Plus Income ETF | &nbsp;&nbsp; 1859099 | &nbsp;&nbsp;&nbsp;&nbsp; 205586 |
| High Yield Bond ETF | &nbsp;&nbsp; 41706 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| International Bond ETF (USD-Hedged) | &nbsp;&nbsp; 13328 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Municipal Income ETF | &nbsp;&nbsp; 306939 | &nbsp;&nbsp;&nbsp;&nbsp; 18445 |
| Municipal High-Income ETF | &nbsp;&nbsp; 1026 | &nbsp;&nbsp;&nbsp;&nbsp; 30736 |
| Short Duration Income ETF  | &nbsp;&nbsp; 445085 | &nbsp;&nbsp;&nbsp;&nbsp; 22954 |
| Short Duration Municipal Income ETF | &nbsp;&nbsp; 29508 | &nbsp;&nbsp;&nbsp;&nbsp; 6293 |
| Ultra Short Income ETF | &nbsp;&nbsp; 96169 | &nbsp;&nbsp;&nbsp;&nbsp; 20822 |
| U.S. Multi-Sector Income ETF | &nbsp;&nbsp; 1245093 | &nbsp;&nbsp;&nbsp;&nbsp; 53640 |

---

The following table presents additional information for each fund for the year ended December 31, 2025 (dollars in thousands):

---

| | | |
|:---|:---|:---|
| **Fund** | **Non-U.S. taxes** <br> **paid on** <br>**interest income**<br>| &nbsp;&nbsp; **Non-U.S. taxes** <br>**paid on** <br>**realized gains**<br>|
| Core Bond ETF | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Core Plus Income ETF | &nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp; — |
| High Yield Bond ETF | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| International Bond ETF (USD-Hedged) | &nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp; 4 |
| Municipal Income ETF | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Municipal High-Income ETF | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Short Duration Income ETF  | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Short Duration Municipal Income ETF | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Ultra Short Income ETF | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| U.S. Multi-Sector Income ETF | &nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp; — |

---

**11. Ownership Concentration**

------

At December 31, 2025, American Funds Portfolio Series — Tax-Aware Conservative Growth and Income Portfolio held 61%, 26% and 23% of the outstanding shares of Capital Group Municipal High-Income ETF, Capital Group Municipal Income ETF and Capital Group Short Duration Municipal Income ETF, respectively. In addition, American Funds Portfolio Series — Tax-Exempt Preservation Portfolio held 12% of the outstanding shares of Capital Group Short Duration Municipal Income ETF. Furthermore, Capital Group Core Balanced ETF held 17% and 14% of the outstanding shares of Capital Group Core Bond ETF and Capital Group Core Plus Income ETF, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **313** | Capital Group Fixed Income ETF Trust |

---

------

Financial highlights

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Income (loss) from** <br>**investment operations**<sup>1</sup> | **Income (loss) from** <br>**investment operations**<sup>1</sup> | **Income (loss) from** <br>**investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | |
| <br>**Year ended** | <br>**Net asset** <br>**value,** <br>**beginning** <br>**of year**<br>| **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| <br>**Net asset** <br>**value, end** <br>**of year**<br>| <br>**Total return** | <br>**Net assets,** <br>**end of** <br>**year** <br>**(in millions)**<br>| <br>**Ratio of** <br>**expenses to** <br>**average net** <br>**assets**<sup>2</sup> <br>| <br>**Ratio of** <br>**net income** <br>**(loss) to** <br>**average net** <br>**assets**<br>|
| **Core Bond ETF** | **Core Bond ETF** | **Core Bond ETF** | **Core Bond ETF** | **Core Bond ETF** | **Core Bond ETF** | **Core Bond ETF** | **Core Bond ETF** | **Core Bond ETF** | **Core Bond ETF** | **Core Bond ETF** | **Core Bond ETF** | **Core Bond ETF** |
| 12/31/2025 | $25.76 | &nbsp;&nbsp; $1.24 | &nbsp;&nbsp; $.62 | &nbsp;&nbsp; $1.86 | &nbsp;&nbsp; $(1.12)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1.12)<br>| &nbsp;&nbsp; $26.50 | 7.33<br> %<br>| &nbsp;&nbsp; $3654 | &nbsp;&nbsp; .27<br> %<br>| 4.72<br> %<br>|
| 12/31/2024 | 26.38 | 1.24 | &nbsp;&nbsp; (.83)<br>| &nbsp;&nbsp; .41 | &nbsp;&nbsp; (1.03)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1.03)<br>| 25.76 | 1.58 | &nbsp;&nbsp; 1579 | &nbsp;&nbsp; .27 | 4.76 |
| 12/31/2023<sup>3,4</sup> <br>| 25.00 | &nbsp;&nbsp; .45 | 1.18 | 1.63 | &nbsp;&nbsp; (.25)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.25)<br>| 26.38 | 6.56 <br><sup>5</sup><br>| &nbsp;&nbsp; 97 | &nbsp;&nbsp; .27 <br><sup>6</sup><br>| 6.77 <br><sup>6</sup><br>|
| **Core Plus Income ETF** | **Core Plus Income ETF** | **Core Plus Income ETF** | **Core Plus Income ETF** | **Core Plus Income ETF** | **Core Plus Income ETF** | **Core Plus Income ETF** | **Core Plus Income ETF** | **Core Plus Income ETF** | **Core Plus Income ETF** | **Core Plus Income ETF** | **Core Plus Income ETF** | **Core Plus Income ETF** |
| 12/31/2025 | $22.18 | &nbsp;&nbsp; $1.44 | &nbsp;&nbsp; $.18 | &nbsp;&nbsp; $1.62 | &nbsp;&nbsp; $(1.16)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1.16)<br>| &nbsp;&nbsp; $22.64 | 7.44<br> %<br>| &nbsp;&nbsp; $6501 | &nbsp;&nbsp; .34<br> %<br>| 6.40<br> %<br>|
| 12/31/2024 | 22.66 | 1.55 | &nbsp;&nbsp; (.88)<br>| &nbsp;&nbsp; .67 | &nbsp;&nbsp; (1.15)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1.15)<br>| 22.18 | 3.01 | &nbsp;&nbsp; 3985 | &nbsp;&nbsp; .34 | 6.91 |
| 12/31/2023 | 22.23 | 1.55 | &nbsp;&nbsp; .01 | 1.56 | &nbsp;&nbsp; (1.13)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1.13)<br>| 22.66 | 7.25 | &nbsp;&nbsp; 1565 | &nbsp;&nbsp; .34 | 7.04 |
| 12/31/2022<sup>3,7</sup> <br>| 25.30 | &nbsp;&nbsp; .83 | &nbsp;&nbsp; (3.24)<br>| &nbsp;&nbsp; (2.41)<br>| &nbsp;&nbsp; (.66)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.66)<br>| 22.23 | &nbsp;&nbsp; (9.59 )<sup>5</sup><br>| &nbsp;&nbsp; 455 | &nbsp;&nbsp; .34 <br><sup>6</sup><br>| 4.24 <br><sup>6</sup><br>|
| **High Yield Bond ETF** | **High Yield Bond ETF** | **High Yield Bond ETF** | **High Yield Bond ETF** | **High Yield Bond ETF** | **High Yield Bond ETF** | **High Yield Bond ETF** | **High Yield Bond ETF** | **High Yield Bond ETF** | **High Yield Bond ETF** | **High Yield Bond ETF** | **High Yield Bond ETF** | **High Yield Bond ETF** |
| 12/31/2025<sup>3,8</sup> <br>| $25.00 | &nbsp;&nbsp; $.78 | &nbsp;&nbsp; $.32 | &nbsp;&nbsp; $1.10 | &nbsp;&nbsp; $(.78)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(.78)<br>| &nbsp;&nbsp; $25.32 | 4.46 %<sup>5</sup><br>| &nbsp;&nbsp; $53 | &nbsp;&nbsp; .39 %<sup>6</sup><br>| 5.88 %<sup>6</sup><br>|
| **International Bond ETF (USD-Hedged)** | **International Bond ETF (USD-Hedged)** | **International Bond ETF (USD-Hedged)** | **International Bond ETF (USD-Hedged)** | **International Bond ETF (USD-Hedged)** | **International Bond ETF (USD-Hedged)** | **International Bond ETF (USD-Hedged)** | **International Bond ETF (USD-Hedged)** | **International Bond ETF (USD-Hedged)** | **International Bond ETF (USD-Hedged)** | **International Bond ETF (USD-Hedged)** | **International Bond ETF (USD-Hedged)** | **International Bond ETF (USD-Hedged)** |
| 12/31/2025 | $25.28 | &nbsp;&nbsp; $1.02 | &nbsp;&nbsp; $.11 | &nbsp;&nbsp; $1.13 | &nbsp;&nbsp; $(1.00)<br>| &nbsp;&nbsp; $(.08)<br>| &nbsp;&nbsp; $(1.08)<br>| &nbsp;&nbsp; $25.33 | 4.53<br> %<br>| &nbsp;&nbsp; $150 | &nbsp;&nbsp; .45<br> %<br>| 4.03<br> %<br>|
| 12/31/2024<sup>3,9</sup> <br>| 25.00 | &nbsp;&nbsp; .46 | &nbsp;&nbsp; .23 | &nbsp;&nbsp; .69 | &nbsp;&nbsp; (.37)<br>| &nbsp;&nbsp; (.04)<br>| &nbsp;&nbsp; (.41)<br>| 25.28 | 2.79 <br><sup>5</sup><br>| &nbsp;&nbsp; 50 | &nbsp;&nbsp; .45 <br><sup>6</sup><br>| 3.52 <br><sup>5</sup><br>|
| **Municipal Income ETF** | **Municipal Income ETF** | **Municipal Income ETF** | **Municipal Income ETF** | **Municipal Income ETF** | **Municipal Income ETF** | **Municipal Income ETF** | **Municipal Income ETF** | **Municipal Income ETF** | **Municipal Income ETF** | **Municipal Income ETF** | **Municipal Income ETF** | **Municipal Income ETF** |
| 12/31/2025 | $26.88 | &nbsp;&nbsp; $.96 | &nbsp;&nbsp; $.42 | &nbsp;&nbsp; $1.38 | &nbsp;&nbsp; $(.91)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(.91)<br>| &nbsp;&nbsp; $27.35 | 5.23<br> %<br>| &nbsp;&nbsp; $4803 | &nbsp;&nbsp; .27<br> %<br>| 3.57<br> %<br>|
| 12/31/2024 | 27.00 | &nbsp;&nbsp; .99 | &nbsp;&nbsp; (.25)<br>| &nbsp;&nbsp; .74 | &nbsp;&nbsp; (.86)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.86)<br>| 26.88 | 2.80 | &nbsp;&nbsp; 2666 | &nbsp;&nbsp; .27 | 3.66 |
| 12/31/2023 | 26.11 | &nbsp;&nbsp; .98 | &nbsp;&nbsp; .75 | 1.73 | &nbsp;&nbsp; (.84)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.84)<br>| 27.00 | 6.78 | &nbsp;&nbsp; 517 | &nbsp;&nbsp; .27 | 3.75 |
| 12/31/2022<sup>3,10</sup> <br>| 25.00 | &nbsp;&nbsp; .17 | 1.07 | 1.24 | &nbsp;&nbsp; (.13)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.13)<br>| 26.11 | 4.92 <br><sup>5</sup><br>| &nbsp;&nbsp; 74 | &nbsp;&nbsp; .05 <br><sup>5</sup><br>| &nbsp;&nbsp; .67 <br><sup>5</sup><br>|
| **Municipal High-Income ETF** | **Municipal High-Income ETF** | **Municipal High-Income ETF** | **Municipal High-Income ETF** | **Municipal High-Income ETF** | **Municipal High-Income ETF** | **Municipal High-Income ETF** | **Municipal High-Income ETF** | **Municipal High-Income ETF** | **Municipal High-Income ETF** | **Municipal High-Income ETF** | **Municipal High-Income ETF** | **Municipal High-Income ETF** |
| 12/31/2025 | $25.24 | &nbsp;&nbsp; $1.12 | &nbsp;&nbsp; $(.04)<br>| &nbsp;&nbsp; $1.08 | &nbsp;&nbsp; $(.92)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(.92)<br>| &nbsp;&nbsp; $25.40 | 4.40<br> %<br>| &nbsp;&nbsp; $2483 | &nbsp;&nbsp; .34<br> %<br>| 4.46<br> %<br>|
| 12/31/2024<sup>3,9</sup> <br>| 25.00 | &nbsp;&nbsp; .54 | &nbsp;&nbsp; .15 | &nbsp;&nbsp; .69 | &nbsp;&nbsp; (.45)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.45)<br>| 25.24 | 2.76 <br><sup>5</sup><br>| &nbsp;&nbsp; 85 | &nbsp;&nbsp; .34 <br><sup>6</sup><br>| 4.11 <br><sup>5</sup><br>|
| **Short Duration Income ETF**  | **Short Duration Income ETF**  | **Short Duration Income ETF**  | **Short Duration Income ETF**  | **Short Duration Income ETF**  | **Short Duration Income ETF**  | **Short Duration Income ETF**  | **Short Duration Income ETF**  | **Short Duration Income ETF**  | **Short Duration Income ETF**  | **Short Duration Income ETF**  | **Short Duration Income ETF**  | **Short Duration Income ETF**  |
| 12/31/2025 | $25.61 | &nbsp;&nbsp; $1.46 | &nbsp;&nbsp; $.10 | &nbsp;&nbsp; $1.56 | &nbsp;&nbsp; $(1.17)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1.17)<br>| &nbsp;&nbsp; $26.00 | 6.20<br> %<br>| &nbsp;&nbsp; $1872 | &nbsp;&nbsp; .25<br> %<br>| 5.63<br> %<br>|
| 12/31/2024 | 25.41 | 1.69 | &nbsp;&nbsp; (.32)<br>| 1.37 | &nbsp;&nbsp; (1.17)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1.17)<br>| 25.61 | 5.51 | &nbsp;&nbsp; 874 | &nbsp;&nbsp; .25 | 6.64 |
| 12/31/2023 | 25.27 | 1.37 | &nbsp;&nbsp; (.10)<br>| 1.27 | &nbsp;&nbsp; (1.13)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1.13)<br>| 25.41 | 5.14 | &nbsp;&nbsp; 332 | &nbsp;&nbsp; .25 | 5.45 |
| 12/31/2022<sup>3,10</sup> <br>| 25.00 | &nbsp;&nbsp; .22 | &nbsp;&nbsp; .21 | &nbsp;&nbsp; .43 | &nbsp;&nbsp; (.16)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.16)<br>| 25.27 | 1.73 <br><sup>5</sup><br>| &nbsp;&nbsp; 89 | &nbsp;&nbsp; .05 <br><sup>5</sup><br>| &nbsp;&nbsp; .87 <br><sup>5</sup><br>|
| **Short Duration Municipal Income ETF** | **Short Duration Municipal Income ETF** | **Short Duration Municipal Income ETF** | **Short Duration Municipal Income ETF** | **Short Duration Municipal Income ETF** | **Short Duration Municipal Income ETF** | **Short Duration Municipal Income ETF** | **Short Duration Municipal Income ETF** | **Short Duration Municipal Income ETF** | **Short Duration Municipal Income ETF** | **Short Duration Municipal Income ETF** | **Short Duration Municipal Income ETF** | **Short Duration Municipal Income ETF** |
| 12/31/2025 | $25.93 | &nbsp;&nbsp; $.87 | &nbsp;&nbsp; $.32 | &nbsp;&nbsp; $1.19 | &nbsp;&nbsp; $(.80)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(.80)<br>| &nbsp;&nbsp; $26.32 | 4.67<br> %<br>| &nbsp;&nbsp; $954 | &nbsp;&nbsp; .25<br> %<br>| 3.34<br> %<br>|
| 12/31/2024 | 25.78 | &nbsp;&nbsp; .91 | &nbsp;&nbsp; .05 | &nbsp;&nbsp; .96 | &nbsp;&nbsp; (.81)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.81)<br>| 25.93 | 3.77 | &nbsp;&nbsp; 554 | &nbsp;&nbsp; .25 | 3.51 |
| 12/31/2023<sup>3,4</sup> <br>| 25.00 | &nbsp;&nbsp; .24 | &nbsp;&nbsp; .76 | 1.00 | &nbsp;&nbsp; (.22)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.22)<br>| 25.78 | 4.00 <br><sup>5</sup><br>| &nbsp;&nbsp; 46 | &nbsp;&nbsp; .25 <br><sup>6</sup><br>| 3.62 <br><sup>6</sup><br>|
| **Ultra Short Income ETF** | **Ultra Short Income ETF** | **Ultra Short Income ETF** | **Ultra Short Income ETF** | **Ultra Short Income ETF** | **Ultra Short Income ETF** | **Ultra Short Income ETF** | **Ultra Short Income ETF** | **Ultra Short Income ETF** | **Ultra Short Income ETF** | **Ultra Short Income ETF** | **Ultra Short Income ETF** | **Ultra Short Income ETF** |
| 12/31/2025 | $25.12 | &nbsp;&nbsp; $1.16 | &nbsp;&nbsp; $.06 | &nbsp;&nbsp; $1.22 | &nbsp;&nbsp; $(1.04)<br>| &nbsp;&nbsp; $(.01)<br>| &nbsp;&nbsp; $(1.05)<br>| &nbsp;&nbsp; $25.29 | 4.97<br> %<br>| &nbsp;&nbsp; $187 | &nbsp;&nbsp; .18<br> %<br>| 4.62<br> %<br>|
| 12/31/2024<sup>3,9</sup> <br>| 25.00 | &nbsp;&nbsp; .65 | &nbsp;&nbsp; .13 | &nbsp;&nbsp; .78 | &nbsp;&nbsp; (.63)<br>| &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; (.66)<br>| 25.12 | 3.14 <br><sup>5</sup><br>| &nbsp;&nbsp; 35 | &nbsp;&nbsp; .18 <br><sup>6</sup><br>| 5.01 <br><sup>5</sup><br>|
| **U.S. Multi-Sector Income ETF** | **U.S. Multi-Sector Income ETF** | **U.S. Multi-Sector Income ETF** | **U.S. Multi-Sector Income ETF** | **U.S. Multi-Sector Income ETF** | **U.S. Multi-Sector Income ETF** | **U.S. Multi-Sector Income ETF** | **U.S. Multi-Sector Income ETF** | **U.S. Multi-Sector Income ETF** | **U.S. Multi-Sector Income ETF** | **U.S. Multi-Sector Income ETF** | **U.S. Multi-Sector Income ETF** | **U.S. Multi-Sector Income ETF** |
| 12/31/2025 | $27.21 | &nbsp;&nbsp; $2.04 | &nbsp;&nbsp; $.05 | &nbsp;&nbsp; $2.09 | &nbsp;&nbsp; $(1.66)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1.66)<br>| &nbsp;&nbsp; $27.64 | 7.88<br> %<br>| &nbsp;&nbsp; $3930 | &nbsp;&nbsp; .39<br> %<br>| 7.42<br> %<br>|
| 12/31/2024 | 26.91 | 2.07 | &nbsp;&nbsp; (.16)<br>| 1.91 | &nbsp;&nbsp; (1.61)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1.61)<br>| 27.21 | 7.29 | &nbsp;&nbsp; 1951 | &nbsp;&nbsp; .39 | 7.63 |
| 12/31/2023 | 25.66 | 2.05 | &nbsp;&nbsp; .78 | 2.83 | &nbsp;&nbsp; (1.58)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1.58)<br>| 26.91 | 11.39 | &nbsp;&nbsp; 379 | &nbsp;&nbsp; .39 | 7.91 |
| 12/31/2022<sup>3,10</sup> <br>| 25.00 | &nbsp;&nbsp; .29 | &nbsp;&nbsp; .62 | &nbsp;&nbsp; .91 | &nbsp;&nbsp; (.25)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.25)<br>| 25.66 | 3.63 <br><sup>5</sup><br>| &nbsp;&nbsp; 71 | &nbsp;&nbsp; .07 <br><sup>5</sup><br>| 1.13 <br><sup>5</sup><br>|

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Refer to the end of the table(s) for footnote(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **314** |

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------

Financial highlights (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | | |
|:---|:---|:---|:---|
| **Portfolio turnover rate excluding** <br>**mortgage dollar roll transactions**<sup>11,12,13</sup><br>| **Year ended** <br>**December 31, 2025**<br>| &nbsp;&nbsp;&nbsp; **Year ended** <br>**December 31, 2024**<br>| &nbsp;&nbsp;&nbsp; **Year ended** <br>**December 31, 2023**<br>|
| Core Bond ETF | &nbsp;&nbsp; 57<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 125<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 13 %<sup>4</sup><br>|
| Core Plus Income ETF | &nbsp;&nbsp; 104 | &nbsp;&nbsp;&nbsp;&nbsp; 83 | &nbsp;&nbsp;&nbsp;&nbsp; 76<br>&nbsp;&nbsp;&nbsp;&nbsp; 172 %<sup>7</sup><br>|
| International Bond ETF (USD-Hedged) | &nbsp;&nbsp; 154 | &nbsp;&nbsp;&nbsp;&nbsp; 118 <br><sup>59</sup><br>|  |
| Short Duration Income ETF  | &nbsp;&nbsp; 32 | &nbsp;&nbsp;&nbsp;&nbsp; 42 | &nbsp;&nbsp;&nbsp;&nbsp; 56<br>&nbsp;&nbsp;&nbsp;&nbsp; 1 <br><sup>10</sup><br>|
| U.S. Multi-Sector Income ETF | &nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp; 39 | &nbsp;&nbsp;&nbsp;&nbsp; 43<br>&nbsp;&nbsp;&nbsp;&nbsp; 6 <br><sup>10</sup><br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio turnover rate including** <br>**mortgage dollar roll transactions, if** <br> **any**<sup>11,12,13</sup><br>| **Year ended** <br>**December 31, 2025**<br>| &nbsp;&nbsp;&nbsp; **Year ended** <br>**December 31, 2024**<br>| &nbsp;&nbsp;&nbsp; **Year ended** <br>**December 31, 2023**<br>|
| Core Bond ETF | &nbsp;&nbsp; 87<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 354<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 26 %<sup>4</sup><br>|
| Core Plus Income ETF | &nbsp;&nbsp; 299 | &nbsp;&nbsp;&nbsp;&nbsp; 420 | &nbsp;&nbsp;&nbsp;&nbsp; 581<br>&nbsp;&nbsp;&nbsp;&nbsp; 446 %<sup>7</sup><br>|
| High Yield Bond ETF | &nbsp;&nbsp; 36 <br><sup>58</sup><br>|  |  |
| International Bond ETF (USD-Hedged) | &nbsp;&nbsp; 188 | &nbsp;&nbsp;&nbsp;&nbsp; 185 <br><sup>59</sup><br>|  |
| Municipal Income ETF | &nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; 19<br>&nbsp;&nbsp;&nbsp;&nbsp; 1 <br><sup>10</sup><br>|
| Municipal High-Income ETF | &nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 25 <br><sup>59</sup><br>|  |
| Short Duration Income ETF  | &nbsp;&nbsp; 128 | &nbsp;&nbsp;&nbsp;&nbsp; 192 | &nbsp;&nbsp;&nbsp;&nbsp; 203<br>&nbsp;&nbsp;&nbsp;&nbsp; 55 <br><sup>10</sup><br>|
| Short Duration Municipal Income ETF | &nbsp;&nbsp; 55 | &nbsp;&nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp;&nbsp;&nbsp; 37 <br><sup>4</sup><br>|
| Ultra Short Income ETF | &nbsp;&nbsp; 90 | &nbsp;&nbsp;&nbsp;&nbsp; 26 <br><sup>59</sup><br>|  |
| U.S. Multi-Sector Income ETF | &nbsp;&nbsp; 52 | &nbsp;&nbsp;&nbsp;&nbsp; 41 | &nbsp;&nbsp;&nbsp;&nbsp; 43<br>&nbsp;&nbsp;&nbsp;&nbsp; 6 <br><sup>10</sup><br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>1</sup> Based on average shares outstanding.

<sup>2</sup> Ratios do not include expenses of any Central Funds. Each fund indirectly bears its proportionate share of the expenses of any Central Funds.

<sup>3</sup> Based on operations for a period that is less than a full year.

<sup>4</sup> For the period September 26, 2023, commencement of operations, through December 31, 2023.

<sup>5</sup> Not annualized.

<sup>6</sup> Annualized.

<sup>7</sup> For the period February 22, 2022, commencement of operations, through December 31, 2022.

<sup>8</sup> For the period June 24, 2025, commencement of operations, through December 31, 2025.

<sup>9</sup> For the period June 25, 2024, commencement of operations, through December 31, 2024.

<sup>10</sup> For the period October 25, 2022, commencement of operations, through December 31, 2022.

<sup>11</sup> Rates do not include each fund's portfolio activity with respect to any Central Funds.

<sup>12</sup> Rates exclude in-kind transactions, if any.

<sup>13</sup> Refer to Note 5 for more information on mortgage dollar rolls.

Refer to the notes to financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **315** | Capital Group Fixed Income ETF Trust |

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------

Report of Independent Registered Public Accounting Firm

------

To the Board of Trustees of Capital Group Fixed Income ETF Trust and Shareholders of Capital Group Core Bond ETF, Capital Group Core Plus Income ETF, Capital Group High Yield Bond ETF, Capital Group International Bond ETF (USD-Hedged), Capital Group Municipal Income ETF, Capital Group Municipal High-Income ETF, Capital Group Short Duration Income ETF, Capital Group Short Duration Municipal Income ETF, Capital Group Ultra Short Income ETF and Capital Group U.S. Multi-Sector Income ETF

**Opinions on the Financial Statements**

We have audited the accompanying statements of assets and liabilities, including the investment portfolios, of each of the funds listed in the table below (constituting Capital Group Fixed Income ETF Trust, hereafter collectively referred to as the "Funds") as of December 31, 2025, the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including the related notes, and the financial highlights for each of the periods indicated in the table below (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds listed in the table below as of December 31, 2025, the results of each of their operations, the changes in each of their net assets, and each of the financial highlights for each of the periods indicated in the table below, in conformity with accounting principles generally accepted in the United States of America.

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| | | | |
|:---|:---|:---|:---|
| **Fund** | &nbsp;&nbsp; **Statement of** <br>**operations**<br>| &nbsp;&nbsp; **Statement of changes** <br>**in net assets**<br>| &nbsp;&nbsp; **Financial** <br>**highlights**<br>|
| Capital Group Core Plus Income ETF | &nbsp;&nbsp; For the year ended <br> December 31, 2025 | &nbsp;&nbsp; For the years ended <br> December 31, 2025 and 2024 | &nbsp;&nbsp; For the years ended <br> December 31, 2025, 2024 <br> and 2023, and the period <br> February 22, 2022 <br> (commencement of <br> operations) through <br> December 31, 2022<br>|
| Capital Group Municipal Income ETF | &nbsp;&nbsp; For the year ended <br> December 31, 2025 | &nbsp;&nbsp; For the years ended <br> December 31, 2025 and 2024 | &nbsp;&nbsp; For the years ended <br> December 31, 2025, 2024 <br> and 2023, and the period <br> October 25, 2022 <br> (commencement of <br> operations) through <br> December 31, 2022 |
| Capital Group U.S. Multi-Sector Income ETF | &nbsp;&nbsp; For the year ended <br> December 31, 2025 | &nbsp;&nbsp; For the years ended <br> December 31, 2025 and 2024 | &nbsp;&nbsp; For the years ended <br> December 31, 2025, 2024 <br> and 2023, and the period <br> October 25, 2022 <br> (commencement of <br> operations) through <br> December 31, 2022 |
| Capital Group Short Duration Income ETF | &nbsp;&nbsp; For the year ended <br> December 31, 2025 | &nbsp;&nbsp; For the years ended <br> December 31, 2025 and 2024 | &nbsp;&nbsp; For the years ended <br> December 31, 2025, 2024 <br> and 2023, and the period <br> October 25, 2022 <br> (commencement of <br> operations) through <br> December 31, 2022 |
| Capital Group Core Bond ETF | &nbsp;&nbsp; For the year ended <br> December 31, 2025 | &nbsp;&nbsp; For the years ended <br> December 31, 2025 and 2024 | &nbsp;&nbsp; For the years ended <br> December 31, 2025 and <br> 2024, and the period <br> September 26, 2023 <br> (commencement of <br> operations) through <br> December 31, 2023 |
| Capital Group Short Duration Municipal <br> Income ETF<br>| &nbsp;&nbsp; For the year ended <br> December 31, 2025 | &nbsp;&nbsp; For the years ended <br> December 31, 2025 and 2024 | &nbsp;&nbsp; For the years ended <br> December 31, 2025 and <br> 2024, and the period <br> September 26, 2023 <br> (commencement of <br> operations) through <br> December 31, 2023 |
| Capital Group Ultra Short Income ETF | &nbsp;&nbsp; For the year ended <br> December 31, 2025 | &nbsp;&nbsp; For the year ended December 31, 2025 and the period June 25, <br> 2024 (commencement of operations) through December 31, <br> 2024 | &nbsp;&nbsp; For the year ended December 31, 2025 and the period June 25, <br> 2024 (commencement of operations) through December 31, <br> 2024 |
| Capital Group International Bond ETF <br> (USD-Hedged)<br>| &nbsp;&nbsp; For the year ended <br> December 31, 2025 | &nbsp;&nbsp; For the year ended December 31, 2025 and the period June 25, <br> 2024 (commencement of operations) through December 31, <br> 2024 | &nbsp;&nbsp; For the year ended December 31, 2025 and the period June 25, <br> 2024 (commencement of operations) through December 31, <br> 2024 |
| Capital Group Municipal High-Income ETF | &nbsp;&nbsp; For the year ended <br> December 31, 2025 | &nbsp;&nbsp; For the year ended December 31, 2025 and the period June 25, <br> 2024 (commencement of operations) through December 31, <br> 2024 | &nbsp;&nbsp; For the year ended December 31, 2025 and the period June 25, <br> 2024 (commencement of operations) through December 31, <br> 2024 |
| Capital Group High Yield Bond ETF | For the period June 24, 2025 (commencement of operations) through December 31, 2025. | For the period June 24, 2025 (commencement of operations) through December 31, 2025. | For the period June 24, 2025 (commencement of operations) through December 31, 2025. |

---

**Basis for Opinions**

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Capital Group Fixed Income ETF Trust | **316** |

---

------

Report of Independent Registered Public Accounting Firm

------

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2025 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/ PricewaterhouseCoopers LLP

Los Angeles, California

February 13, 2026

We have served as the auditor of one or more investment companies in The Capital Group group of investment companies since 1934.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **317** | Capital Group Fixed Income ETF Trust |

---

**Capital Group Fixed Income ETF Trust**

Part C

Other Information

**Item 28.** **Exhibits for Registration Statement** (1940 Act No. 811-23738 and 1933 Act No. 333-259025)

(a) **Articles of Incorporation** – Certificate of Trust dated 1/12/21 – previously filed [(see Pre-Effective Amendment No. 2 filed 12/17/21)](http://www.sec.gov/Archives/edgar/data/1870117/000005193121001061/exha.htm) ; Certificate of Amendment dated 8/20/21 – previously filed [(see Pre-Effective Amendment No. 2 filed 12/17/21)](http://www.sec.gov/Archives/edgar/data/1870117/000005193121001061/exha.htm) ; Certificate of Amendment dated 7/14/22 – previously filed ([see P/E Amendment No. 4 filed 10/5/22](http://www.sec.gov/Archives/edgar/data/1870117/000005193122000980/exha.htm)); Amended and Restated Agreement and Declaration of Trust dated 3/7/25 – previously filed
 ([see P/E Amendment No. 16 filed 6/11/25](http://www.sec.gov/Archives/edgar/data/1870117/000110465925058464/tm2513873d3_ex99-a2.htm))

(b) **By-laws** – Amended and Restated By-laws effective 7/14/22 – previously filed ([see P/E Amendment No. 4 filed 10/5/22](http://www.sec.gov/Archives/edgar/data/1870117/000005193122000980/exhb.htm))

(c) **Instruments Defining Rights of Security Holders** – See Items 28(a) (Articles 2, 6 and 7 of Amended
 and Restated Agreement and Declaration of Trust) and 28(b) (Article 3 and Section 8.04)

(d) **Investment Advisory Contracts** – Amended and Restated Investment Advisory and Service Agreement
 dated 9/16/22 – previously filed ([see P/E Amendment No. 4 filed 10/5/22](http://www.sec.gov/Archives/edgar/data/1870117/000005193122000980/exhd.htm)); Exhibit A to the Amended and Restated Investment Advisory and Service Agreement as amended 6/9/25 – previously
 filed ([see P/E Amendment No. 16 filed 6/11/25](http://www.sec.gov/Archives/edgar/data/1870117/000110465925058464/tm2513873d3_ex99-d2.htm))

(e) **Underwriting Contracts** – Amended and Restated Principal Underwriting Agreement dated 9/16/22
 – previously filed ([see P/E Amendment No. 4 filed 10/5/22](http://www.sec.gov/Archives/edgar/data/1870117/000005193122000980/exhe.htm)); Exhibit A to the Amended and Restated Principal Underwriting Agreement as amended 6/9/25 - previously filed ([see P/E Amendment No. 16 filed 6/11/25](http://www.sec.gov/Archives/edgar/data/1870117/000110465925058464/tm2513873d3_ex99-e2.htm))

(f) **Bonus or Profit Sharing Contracts** – None

(g) **Custodian Agreements** – Global Custody Agreement dated 12/14/06 – previously filed [(see Pre-Effective Amendment No. 2 filed 12/17/21)](http://www.sec.gov/Archives/edgar/data/1870117/000005193121001061/exhg.htm) ; Amendment to Global Custody Agreement dated 11/17/21 – previously filed ([see Pre-Effective Amendment No. 2 filed 12/17/21](http://www.sec.gov/Archives/edgar/data/1870117/000005193121001061/exhg.htm)); Amendment to the Global Custody Agreement dated 3/19/25 - previously filed ([see P/E Amendment No. 16 filed 6/11/25](http://www.sec.gov/Archives/edgar/data/1870117/000110465925058464/tm2513873d3_ex99-g2.htm))

---

| | |
|:---|:---|
| (h-1) | **Other Material Contracts** – Form of Authorized Participant Agreement – previously filed [(see Pre-Effective Amendment No. 2 filed 12/17/21)](http://www.sec.gov/Archives/edgar/data/1870117/000005193121001061/exhh.htm); Form of Indemnification Agreement dated 12/10/21 – previously filed [(see Pre-Effective Amendment No. 2 filed 12/17/21)](http://www.sec.gov/Archives/edgar/data/1870117/000005193121001061/exhh.htm); Transfer Agency and Service Agreement dated 12/10/21 – previously filed ([see P/E Amendment No. 5 filed 2/28/23](http://www.sec.gov/Archives/edgar/data/1870117/000005193123000220/exhh.htm)); Administration Agreement dated 12/10/21 – previously filed ([see P/E Amendment No. 5 filed 2/28/23](http://www.sec.gov/Archives/edgar/data/1870117/000005193123000220/exhh.htm)); Amendment to Transfer Agency and Service Agreement dated 3/19/25 - previously filed ([see P/E Amendment](http://www.sec.gov/Archives/edgar/data/1870117/000110465925058464/tm2513873d3_ex99-h2.htm) |

---

No. 16 filed 6/11/25); Amendment to Administration Agreement dated 3/19/25 - previously filed ([see P/E Amendment No. 16 filed 6/11/25](http://www.sec.gov/Archives/edgar/data/1870117/000110465925058464/tm2513873d3_ex99-h2.htm))

(h-2) [Form of Indemnification Agreement](exhh.htm)

(i) **Legal Opinion** – Legal Opinion – previously filed [(see Pre-Effective Amendment No. 2 filed 12/17/21](http://www.sec.gov/Archives/edgar/data/1870117/000005193121001061/exhi.htm) ; [P/E Amendment No. 4 filed 10/5/22](http://www.sec.gov/Archives/edgar/data/1870117/000005193122000980/exhi.htm) ; [P/E Amendment No. 8 filed 8/8/23](http://www.sec.gov/Archives/edgar/data/1870117/000005193123000734/exhi.htm) ; [P/E Amendment No. 12 filed 5/30/24](http://www.sec.gov/Archives/edgar/data/1870117/000005193124000547/exhi.htm) ; [P/E Amendment No. 16 filed 6/11/25](http://www.sec.gov/Archives/edgar/data/1870117/000110465925058464/tm2513873d3_ex99-i2.htm))

(j) **Other Opinions** – [Consent of Independent Registered Public Accounting Firm](exhj.htm)

(k)&nbsp;&nbsp;&nbsp;&nbsp; **Omitted financial statements** – None

(l) **Initial capital agreements** – Initial capital agreements – previously filed [(see Pre-Effective Amendment No. 2 filed 12/17/21)](http://www.sec.gov/Archives/edgar/data/1870117/000005193121001061/exhl.htm)

(m) **Rule 12b-1 Plan** – Plan of Distribution dated 9/16/22 – previously filed ([see P/E Amendment No. 4 filed 10/5/22](http://www.sec.gov/Archives/edgar/data/1870117/000005193122000980/exhm.htm))

(n) Not applicable

(o)&nbsp;&nbsp;&nbsp;&nbsp; Reserved

(p) **Code of Ethics** – [Code of Ethics for The Capital Group Companies dated May 2025 and Code of Ethics for Registrant](exhp.htm)

**Item 29.** **Persons Controlled by or Under Common Control with the Fund**

None

**Item 30.** **Indemnification**

The Registrant is a joint-insured under Investment Adviser/Mutual Fund Errors and Omissions Policies, which insure its officers and trustees against certain liabilities. However, in no event will Registrant maintain insurance to indemnify any such person for any act for which Registrant itself is not permitted to indemnify the individual.

Article 8 of the Registrant's Declaration of Trust as well as the indemnification agreements that the Registrant has entered into with each of its trustees who is not an "interested person" of the Registrant (as defined under the Investment Company Act of 1940, as amended), provide in effect that the Registrant will indemnify its officers and trustees against any liability or expenses actually and reasonably incurred by such person in any proceeding arising out of or in connection with his or her service to the Registrant, to the fullest extent permitted by applicable law, subject to certain conditions. In accordance with Section 17(h) and 17(i) of the Investment Company Act of 1940, as amended, and their respective terms, these provisions do not protect any person against any liability to the Registrant or its shareholders to which such person would otherwise be subject by reason of willful

misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of his or her office.

Insofar as indemnification for liability arising under the Securities Act of 1933 may be permitted to trustees, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the U.S. Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a trustee, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such trustee, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

Registrant will comply with the indemnification requirements contained in the Investment Company Act of 1940, as amended, and Release Nos. 7221 (June 9, 1972) and 11330 (September 4, 1980).

**Item 31.** **Business and Other Connections of the Investment Adviser**

None

**Item 32.** **Principal Underwriters**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Client Group, Inc. is the Principal Underwriter of shares of: AMCAP Fund, American Balanced Fund, American Funds College Target Date Series, American Funds Core Plus Bond Fund, American Funds Corporate Bond Fund, American Funds Developing World Growth and Income Fund, American Funds Emerging Markets Bond Fund, American Funds Fundamental Investors, American Funds Global Balanced Fund, American Funds Global Insight Fund, The American Funds Income Series, American Funds Inflation Linked Bond Fund, American Funds International Vantage Fund, American Funds Mortgage Fund, American Funds Multi-Sector Income Fund, American Funds Portfolio Series, American Funds Retirement Income Portfolio Series, American Funds Short-Term Tax-Exempt Bond Fund, American Funds Strategic Bond Fund, American Funds Target Date Retirement Series, American Funds Tax-Exempt Fund of New York, The American Funds Tax-Exempt Series II, American Funds U.S. Government Money Market Fund, American Funds U.S. Small and Mid Cap Equity Fund, American High-Income Municipal Bond Fund, American High-Income Trust, American Mutual Fund, The Bond Fund of America, Capital Group Completion Fund Series, Capital Group Conservative Equity ETF, Capital Group Core Balanced ETF, Capital Group Core Equity ETF, Capital Group Dividend Growers ETF, Capital Group Dividend Value ETF, Capital Group Equity ETF Trust I, Capital Group Fixed Income ETF Trust, Capital Group Global Equity ETF, Capital Group Global Growth Equity ETF, Capital Group Growth ETF, Capital Group International Core Equity ETF, Capital Group International Equity ETF, Capital Group International Focus Equity ETF, Capital Group KKR Core Plus+, Capital Group KKR Multi-Sector+, Capital Group New Geography Equity ETF, Capital Group Private Client Services

Funds, Capital Group U.S. Equity Fund, Capital Income Builder, Capital World Bond Fund, Capital World Growth and Income Fund, Emerging Markets Equities Fund, Inc., EUPAC Fund, The Growth Fund of America, The Income Fund of America, Intermediate Bond Fund of America, International Growth and Income Fund, The Investment Company of America, Limited Term Tax-Exempt Bond Fund of America, The New Economy Fund, New Perspective Fund, New World Fund, Inc., Short-Term Bond Fund of America, SMALLCAP World Fund, Inc., The Tax-Exempt Bond Fund of America and Washington Mutual Investors Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) ---

| | | | |
|:---|:---|:---|:---|
|  | **<u>(1)</u>**<br> **<u>Name and Principal</u>** <br> **<u>Business Address</u>** | **<u>(2)</u>**<br> **<u>Positions and Offices</u>**<br> **<u>with Underwriter</u>** | **<u>(3)</u>**<br> **<u>Positions and Offices</u>**<br> **<u>with Registrant</u>** |
| LAO | Katherine Abbott | Vice President |  |
| CHO | Chatelaine Achterberg  | Assistant Vice President |  |
| LAO | Alex J. Adair | Regional Vice President |  |
| LAO | Samuel Adams | Regional Vice President |  |
| LAO | Anuj K. Agarwal | Vice President |  |
| LAO | Albert Aguilar, Jr. | Director, Vice President and Chief Compliance Officer |  |
| SNO | David A. Ajluni | Regional Vice President |  |
| LAO | C. Thomas Akin II | Senior Vice President |  |
| LAO | Anthony Albano | Regional Vice President |  |
| LAO | Mark G. Alteri | Regional Vice President |  |
| LAO | Jeremy Alyea | Regional Vice President |  |
| LAO | Colleen M. Ambrose | Vice President |  |
| LAO | Christopher S. Anast | Senior Vice President, Capital Group Institutional Investment Services Division |  |
| LAO | Blake J. Anderson | Assistant Vice President |  |
| LAO | Dion T. Angelopoulos | Assistant Vice President |  |
| CHO | Erik J. Applegate | Vice President, Capital Group Institutional Investment Services Division |  |
| LAO | Luis F. Arocha | Vice President |  |
| LAO | Keith D. Ashley | Regional Vice President |  |
| LAO | Julie A. Asher | Assistant Vice President |  |
| LAO | Curtis A. Baker | Senior Vice President, Capital Group Institutional Investment Services Division |  |
| LAO | T. Patrick Bardsley | Senior Vice President |  |
| SNO | Mark C. Barile | Vice President |  |

---

---

| | | |
|:---|:---|:---|
| LAO | Shakeel A. Barkat | Senior Vice President |
| LAO | Antonio M. Bass | Senior Vice President |
| LAO | Andrew Z. Bates | Assistant Vice President |
| LAO | Katherine A. Beattie | Senior Vice President |
| LAO | Scott G. Beckerman | Senior Vice President |
| LAO | Jeb M. Bent | Senior Vice President |
| LAO | Matthew D. Benton | Senior Vice President |
| LAO | Jerry R. Berg | Senior Vice President |
| LAO | Joseph W. Best, Jr. | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Matthew F. Betley | Vice President |
| LAO | Roger J. Bianco, Jr. | Senior Vice President |
| LAO | Ryan M. Bickle | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Joseph Bilello | Regional Vice President |
| LAO | Jay A. Binstock | Assistant Vice President |
| LAO | Peter D. Bjork | Regional Vice President |
| DCO | Bryan K. Blankenship | Senior Vice President |
| LAO | Marek Blaskovic | Vice President |
| LAO | Matthew C. Bloemer | Regional Vice President |
| LAO | Erick K. Bodge | Regional Vice President |
| LAO | Jon T. Boldt | Vice President |
| LAO | Ainsley J. Borel | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Jill M. Boudreau | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Andre W. Bouvier | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Jordan C. Bowers | Regional Vice President |
| LAO | David H. Bradin | Senior Vice President |
| LAO | William J. Brady | Regional Vice President |
| LAO | William P. Brady | Senior Vice President |
| LAO | Andrew A. Bredholt | Regional Vice President |

---

---

| | | |
|:---|:---|:---|
| LAO | William G. Bridge | Senior Vice President |
| LAO | Siobhan M. Broadbery | Regional Vice President |
| LAO | Lorena B. Brockman | Vice President |
| LAO | Kevin G. Broulette | Vice President, Capital Group Institutional Investment Services Division |
| LAO | E. Chapman Brown, Jr. | Senior Vice President |
| LAO | Elizabeth S. Brownlow | Vice President |
| LAO | Gary D. Bryce | Senior Vice President |
| LAO | Christopher Bucci | Regional Vice President |
| NYO | Melissa Buccilli | Senior Vice President |
| SNO | Dylan J. Burdick | Regional Vice President |
| LAO | Kenneth D. Burdick | Assistant Vice President |
| LAO | Carmen A. Burke | Vice President |
| IND | Jennifer L. Butler | Assistant Vice President |
| LAO | Steven Calabria | Senior Vice President |
| LAO | Thomas E. Callahan | Senior Vice President |
| LAO | Kelly V. Campbell | Senior Vice President |
| LAO | Patrick C. Campbell III | Regional Vice President |
| LAO | Anthon S. Cannon III | Vice President |
| SNO | Antonio G. Capobianco | Regional Vice President |
| LAO | Kevin J. Carevic | Vice President |
| LAO | Jason S. Carlough | Senior Vice President |
| LAO | Kim R. Carney | Senior Vice President |
| LAO | Damian F. Carroll | Senior Vice President |
| LAO | David C. Carson, Jr. | Vice President |
| LAO | James D. Carter | Senior Vice President |
| LAO | Stephen L. Caruthers | Senior Vice President, Capital Group Institutional Investment Services Division |
| SFO | James G. Carville | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Philip L. Casciano | Vice President |

---

---

| | | |
|:---|:---|:---|
| LAO | Christopher M. Cefalo | Senior Vice President |
| IND | Alexzania N. Chambers  | Assistant Vice President |
| LAO | Kent W. Chan | Senior Vice President, Capital Group Institutional Investment Services Division |
| SNO | Marcus L. Chaves | Assistant Vice President |
| LAO | Si J. Chen | Vice President |
| LAO | Daniel A. Chodosch | Senior Vice President |
| LAO | Peter J. Chong | Assistant Vice President |
| LAO | Cheryl L. Christian | Assistant Vice President |
| LAO | Andrew T. Christos | Vice President |
| LAO | Robert S. Chu | Assistant Vice President |
| LAO | Paul A. Cieslik | Senior Vice President |
| LAO | Andrew R. Claeson | Vice President |
| LAO | Michael J. Clark | Regional Vice President |
| LAO | Jamie A. Claypool | Senior Vice President |
| LAO | Kyle R. Coffey | Regional Vice President |
| LAO | Natalie S. Cole | Vice President |
| NYO | Jayme E. Colosimo | Vice President |
| IND | Timothy J. Colvin | Regional Vice President |
| LAO | Frances Coombes | Senior Vice President |
| IRV | Erin K. Concepcion | Assistant Vice President |
| SNO | Brandon J. Cone | Vice President |
| LAO | Christopher M. Conwell | Vice President |
| LAO | C. Jeffrey Cook | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Megan Costa | Senior Vice President |
| LAO | Joseph G. Cronin | Senior Vice President |
| LAO | D. Erick Crowdus | Senior Vice President |
| SNO | Zachary A. Cutkomp | Regional Vice President |
| LAO | Hanh M. Dao | Senior Vice President |

---

---

| | | |
|:---|:---|:---|
| LAO | Alex L. DaPron | Regional Vice President |
| LAO | William F. Daugherty | Senior Vice President |
| LAO | Alexandria B. Davis | Regional Vice President |
| SNO | Bradley C. Davis | Assistant Vice President |
| LAO | Scott T. Davis | Senior Vice President |
| LAO | Shehan N. De Silva | Assistant Vice President |
| LAO | Adam DeAngelis | Regional Vice President |
| LAO | Peter J. Deavan | Senior Vice President |
| LAO | Kristofer J. DeBonville | Regional Vice President |
| LAO | Guy E. Decker | Senior Vice President |
| LAO | Mark A. Dence | Senior Vice President |
| SNO | Brian M. Derrico | Vice President |
| LAO | Stephen Deschenes | Senior Vice President |
| LAO | James G. DiGiuseppe | Senior Vice President |
| LAO | Alexander J. Diorio | Vice President |
| LAO | Mario P. DiVito | Senior Vice President |
| LAO | Kevin F. Dolan | Senior Vice President |
| LAO | John H. Donovan IV | Vice President |
| LAO | Ronald Q. Dottin | Senior Vice President |
| LAO | Joseph B. Dowd | Vice President |
| LAO | John J. Doyle | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Ryan T. Doyle | Senior Vice President |
| LAO | Craig Duglin | Senior Vice President |
| LAO | Alan J. Dumas | Vice President |
| LAO | John E. Dwyer IV | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Christopher P. Dziubasik | Assistant Vice President |
| IND | Karyn B. Dzurisin | Senior Vice President |
| LAO | Kevin C. Easley | Senior Vice President |

---

---

| | | |
|:---|:---|:---|
| LAO | Shirley Ecklund | Senior Vice President |
| LAO | Damian Eckstein | Senior Vice President |
| LAO | Matthew J. Eisenhardt | Senior Vice President |
| IRV | Jessica Eng | Assistant Vice President |
| LAO | Joseph Epstein | Regional Vice President |
| LAO | Wayne C. Ewan | Vice President |
| LAO | Bryan R. Favilla | Senior Vice President |
| LAO | Joseph M. Fazio | Regional Vice President |
| LAO | Mark A. Ferraro | Senior Vice President |
| LAO | Christopher Fetchet | Regional Vice President |
| LAO | Brandon J. Fetta | Vice President |
| LAO | John P. Finneran III | Vice President |
| LAO | Layne M. Finnerty | Senior Vice President, Capital Group Institutional Investment Services Division |
| SNO | Coenraad F. Fletcher | Vice President |
| LAO | Kevin H. Folks | Senior Vice President |
| IND | Kelly B. Fonderoli | Assistant Vice President |
| LAO | William E. Ford | Senior Vice President |
| IRV | Robert S. Forshee | Assistant Vice President |
| LAO | Mark D. Foster | Regional Vice President |
| LAO | Steven M. Fox | Vice President |
| LAO | Holly C. Framsted | Senior Vice President |
| LAO | Megan France | Regional Vice President |
| LAO | Rusty A. Frauhiger | Vice President |
| LAO | Vincent C. Fu | Assistant Vice President |
| LAO | Tyler L. Furek | Vice President |
| LAO | Myles Gaines | Regional Vice President |
| LAO | Jignesh D. Gandhi | Vice President |
| LAO | J. Gregory Garrett | Senior Vice President, Capital Group Institutional Investment Services Division |

---

---

| | | |
|:---|:---|:---|
| SNO | Edward S. Garza | Vice President |
| LAO | Brian K. Geiger | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Leslie B. Geller | Senior Vice President |
| LAO | Jacob M. Gerber | Senior Vice President |
| LAO | Michele Giangrande | Vice President |
| LAO | Travis Gilberg | Vice President |
| LAO | Pamela A. Gillett | Senior Vice President |
| LAO | William F. Gilmartin | Senior Vice President |
| IND | Brenda L. Goeken | Assistant Vice President |
| LAO | Kathleen D. Golden | Vice President |
| NYO | Joshua H. Gordon | Vice President, Capital Group Institutional Investment Services Division |
| SNO | Craig B. Gray | Assistant Vice President |
| LAO | Robert E. Greeley, Jr. | Senior Vice President |
| LAO | Jameson R. Greenstone | Senior Vice President |
| LAO | Eric M. Grey | Senior Vice President |
| LAO | Karen M. Griffin | Vice President |
| LAO | E. Renee Grimm | Senior Vice President |
| LAO | Scott A. Grouten | Senior Vice President |
| SNO | John S. Gryniewicz | Regional Vice President |
| LAO | Sam S. Gumma | Vice President |
| LAO | Jan S. Gunderson | Senior Vice President |
| LAO | Ryan A. Gundrum | Assistant Vice President |
| SNO | Lori L. Guy | Vice President |
| LAO | Janna C. Hahn | Senior Vice President |
| LAO | Philip E. Haning | Senior Vice President |
| LAO | Katy L. Hanke | Senior Vice President |
| LAO | Brandon S. Hansen | Senior Vice President |
| LAO | Julie O. Hansen | Vice President |

---

---

| | | |
|:---|:---|:---|
| SNO | Nicholas Hargreaves | Assistant Vice President |
| LAO | John R. Harley | Senior Vice President |
| LAO | Calvin L. Harrelson III | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Craig W. Hartigan | Senior Vice President |
| LAO | Janis Harrison | Assistant Vice President |
| LAO | James Hayes | Regional Vice President |
| LAO | Jennifer Hayes | Regional Vice President |
| LAO | Alan M. Heaton | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Clifford W. "Webb" Heidinger | Senior Vice President |
| LAO | Brock A. Hillman | Senior Vice President |
| IND | Kristin S. Himsel | Senior Vice President |
| SNO | Emilia A. Holt | Assistant Vice President |
| LAO | Dennis L. Hooper | Regional Vice President |
| IND | Ryan D. Hoover | Regional Vice President |
| LAO | Jessica K. Hooyenga | Vice President |
| LAO | Scott W. Hoyer | Regional Vice President |
| LAO | David R. Hreha | Senior Vice President |
| LAO | Frederic J. Huber | Senior Vice President |
| LAO | Jeffrey K. Hunkins | Senior Vice President |
| LAO | Angelia G. Hunter | Senior Vice President |
| LAO | Christa M. Iacono | Vice President |
| LAO | Marc G. Ialeggio | Senior Vice President |
| LAO | Maurice E. Jadah | Regional Vice President |
| LAO | Asad K. Jamil | Regional Vice President |
| LAO | W. Chris Jenkins | Senior Vice President |
| LAO | Daniel J. Jess II | Senior Vice President |
| IND | Jameel S. Jiwani | Vice President |
| CHO | Allison S. Johnston | Assistant vice President |

---

---

| | | |
|:---|:---|:---|
| LAO | Brendan M. Jonland | Senior Vice President |
| LAO | Kathryn H. Jordan | Vice President |
| LAO | David G. Jordt | Senior Vice President |
| LAO | Michael Kamell | Senior Vice President |
| LAO | Eric J. Kamin | Regional Vice President |
| IND | Teodor P. Karnakov | Assistant Vice President |
| LAO | Wassan M. Kasey | Senior Vice President |
| IND | Joel A. Kaul | Assistant Vice President |
| LAO | John P. Keating | Senior Vice President |
| LAO | David B. Keib | Senior Vice President |
| LAO | Brian G. Kelly | Senior Vice President |
| LAO | Christopher J. Kennedy | Vice President |
| LAO | Jason A. Kerr | Senior Vice President |
| LAO | Ryan C. Kidwell | Senior Vice President |
| LAO | Charles A. King | Senior Vice President, Capital Group Institutional Investment Services Division |
| IND | Eric M. Kirkman | Vice President |
| LAO | Kelsei Q. Kirland | Vice President |
| IND | Morgann B. Klaus | Assistant Vice President |
| LAO | Stephen J. Knutson | Assistant Vice President |
| LAO | Michael J. Koch | Vice President |
| IND | Philip A. Kojich | Assistant Vice President |
| LAO | Christina Kramer | Regional Vice President |
| LAO | James M. Kreider | Vice President |
| LAO | Jacob A. Kuchta | Regional Vice President |
| SNO | David D. Kuncho | Vice President |
| NYO | Joseph Lai | Senior Vice President |
| LAO | Jialing Lang | Assistant Vice President |
| LAO | Richard M. Lang | Senior Vice President, Capital Group Institutional Investment Services Division |

---

---

| | | |
|:---|:---|:---|
| SNO | Theodore J. Larsen | Assistant Vice President |
| LAO | Andrew P. Laskowski | Senior Vice President |
| LAO | Armand Leaks | Vice President |
| LAO | Matthew N. Leeper | Senior Vice President |
| LAO | Victor J. LeMay | Regional Vice President |
| SNO | Matthew T. Levene | Assistant Vice President |
| LAO | Clay M. Leveritt | Senior Vice President |
| LAO | Emily R. Liao | Senior Vice President |
| LAO | Lauren C. Liebes | Regional Vice President |
| LAO | Chris H. Lin | Assistant Vice President |
| IND | Justin L. Linder | Vice President |
| LAO | Louis K. Linquata | Senior Vice President |
| LAO | Damien X. Lona | Regional Vice President |
| LAO | Rainey Lord | Vice President |
| LAO | Omar J. Love | Senior Vice President, Capital Group Institutional Investment Services Division |
| SNO | Adam C. Lozano | Assistant Vice President |
| LAO | Dillon W. Lull | Regional Vice President |
| LAO | Reid A. Luna | Vice President, Capital Group Institutional Investment Services Division |
| LAO | Joe P. Lynch | Regional Vice President |
| CHO | Karin A. Lystad | Assistant Vice President, Capital Group Institutional Investment Services Division |
| LAO | Brandon Y. Ma | Regional Vice President |
| LAO | Justin Maddox | Regional Vice President |
| NYO | Catherine M. Magyera | Vice President |
| LAO | James M. Maher | Senior Vice President |
| LAO | Nathan G. Mains | Senior Vice President |
| LAO | Jeffrey N. Malbasa | Senior Vice President |
| LAO | Usma A. Malik | Senior Vice President |
| LAO | Chantal M. Manseau Guerdat | Senior Vice President, Capital Group Institutional Investment Services Division |

---

---

| | | |
|:---|:---|:---|
| LAO | Arran M. Maran | Regional Vice President |
| LAO | Seema Manek | Vice President |
| LAO | Brooke M. Marrujo | Senior Vice President |
| CHO | James M. Mathenge | Vice President, Capital Group Institutional Investment Services Division |
| SNO | Duane R. Mattson | Assistant Vice President |
| LAO | Stephen B. May | Vice President |
| LAO | Barnabas T. Mbigha | Senior Vice President |
| LAO | Joseph A. McCreesh, III | Senior Vice President |
| LAO | Ross M. McDonald | Senior Vice President |
| LAO | Clinton S. McCurry | Regional Vice President |
| LAO | Jennifer L. McGrath | Regional Vice President |
| LAO | Timothy W. McHale | Secretary |
| SNO | Michael J. McLaughlin | Assistant Vice President |
| LAO | Max J. McQuiston | Senior Vice President |
| LAO | Curtis D. Mc Reynolds | Vice President |
| LAO | Marin B. Meaney | Regional Vice President |
| IND | Melissa M. Meade | Assistant Vice President |
| LAO | Paulino Medina | Vice President |
| LAO | Britney L. Melvin | Vice President |
| LAO | Davina J. Merrell | Regional Vice President |
| LAO | David A. Merrill | Assistant Vice President |
| SNO | Lauren A. Merriweather | Assistant Vice President |
| LAO | Conrad F. Metzger | Senior Vice President |
| LAO | Carl B. Meyer | Regional Vice President |
| LAO | Benjamin J. Miller | Vice President |
| LAO | Jennifer M. Miller | Vice President |
| LAO | Lauren D. Miller | Assistant Vice President |
| LAO | Tammy H. Miller | Vice President |

---

---

| | | |
|:---|:---|:---|
| LAO | William T. Mills | Senior Vice President |
| LAO | Sean C. Minor | Senior Vice President |
| LAO | Louis W. Minora | Vice President |
| LAO | James R. Mitchell III | Senior Vice President |
| LAO | Charles L. Mitsakos | Senior Vice President |
| IND | Eric E. Momcilovich | Assistant Vice President |
| SNO | Christopher Moore | Assistant Vice President |
| IND | Jonathan L. Moran | Regional Vice President |
| LAO | Rex Morgan | Vice President |
| LAO | Nathaniel Morris | Regional Vice President |
| LAO | David H. Morrison | Vice President |
| LAO | Andrew J. Moscardini | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Stanley Moy | Assistant Vice President |
| LAO | Joseph M. Mulcahy | Regional Vice President |
| LAOW | Ryan D. Murphy | Senior Vice President |
| NYO | Timothy J. Murphy | Senior Vice President |
| IND | Valynda J. Murray | Vice President |
| LAO | Zahid Nakhooda | Regional Vice President |
| IND | Kristen L. Nelson | Regional Vice President |
| LAO | Jon C. Nicolazzo | Senior Vice President |
| LAO | Earnest M. Niemi | Senior Vice President |
| LAO | Matthew P. O'Connor | Director, Chairman and Chief Executive Officer; Senior Vice President, Capital Group Institutional Investment Services Division |
| IND | Jody L. O'Dell | Assistant Vice President |
| LAO | Jonathan H. O'Flynn | Senior Vice President |
| LAO | Bradley D. Olalde | Assistant Vice President |
| LAO | Arthur B. Oliver | Vice President |
| LAO | Peter A. Olsen | Senior Vice President |
| IND | Kevin G. Olson | Assistant Vice President |

---

---

| | | |
|:---|:---|:---|
| LAO | Thomas A. O'Neil | Senior Vice President |
| LAO | Cimber L. Nuessle | Assistant Vice President |
| LAO | Michael Orlando | Vice President |
| IRV | Paula A. Orologas | Vice President |
| LAO | Vincent A. Ortega | Vice President, Capital Group Institutional Investment Services Division |
| NYO | Gregory H. Ortman | Senior Vice President |
| LAO | Shawn M. O'Sullivan | Senior Vice President |
| IND | Lance T. Owens | Senior Vice President |
| LAO | Kristina E. Page | Vice President |
| LAO | Jeffrey C. Paguirigan | Senior Vice President |
| NYO | Christine M. Papa | Assistant Vice President |
| LAO | Rodney Dean Parker II | Senior Vice President |
| LAO | Ingrid S. Parl | Vice President |
| LAO | William D. Parsley | Regional Vice President |
| LAO | Timothy C. Patterson | Vice President |
| LAO | W. Burke Patterson, Jr. | Senior Vice President |
| SNO | Adam P. Peach | Vice President |
| LAO | Robert J. Peche | Senior Vice President |
| LAO | Elena M. Peerson | Regional Vice President |
| IRV | Grace L. Pelczynski | Assistant Vice President |
| LAO | Sejal U. Penkar | Vice President |
| LAO | Harry A. Phinney | Senior Vice President |
| LAO | Adam W. Phillips | Vice President |
| LAO | Joseph M. Piccolo | Senior Vice President |
| LAO | Sally L. Picota De Holte | Regional Vice President |
| LAO | Keith A. Piken | Senior Vice President and Director |
| LAO | Jonathan T. Plance | Regional Vice President |
| SFO | Eugene Podkaminer | Senior Vice President |

---

---

| | | |
|:---|:---|:---|
| LAO | David T. Polak | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Chloe E. Pollara | Vice President |
| LAO | Michael E. Pollgreen | Vice President |
| LAO | Charles R. Porcher | Senior Vice President |
| SNO | Robert B. Potter III | Assistant Vice President |
| LAO | Darrell W. Pounders | Vice President |
| LAO | Ryan T. Price | Regional Vice President |
| LAOW | Colyar W. Pridgen | Vice President |
| LAO | Michelle L. Pullen | Vice President |
| LAO | Victoria M. Quach | Vice President |
| LAO | Steven J. Quagrello | Senior Vice President |
| IND | Kelly S. Quick | Assistant Vice President |
| LAO | Michael R. Quinn | Senior Vice President |
| LAO | Sava S. Radakovich | Regional Vice President |
| LAO | Mary K. Radloff | Regional Vice President |
| LAO | Ryan E. Radtke | Senior Vice President |
| LAO | James R. Raker | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Rachel M. Ramos | Vice President |
| SNO | Eddie A. Rascon | Regional Vice President |
| LAO | Rene M. Reincke | Vice President, Treasurer and Director |
| LAO | Lesley P. Reinhart | Vice President |
| LAO | Michael D. Reynaert  | Senior Vice President |
| LAO | Christopher J. Richardson | Senior Vice President |
| LAO | James Robelotto | Assistant Vice President |
| SNO | Stephanie A. Robichaud | Vice President |
| LAO | Jeffrey J. Robinson | Senior Vice President |
| LAO | Matthew M. Robinson | Senior Vice President |
| LAO | Jennifer R. Rocci | Regional Vice President |

---

---

| | | |
|:---|:---|:---|
| LAO | Rochelle C. Rodriguez | Senior Vice President |
| LAO | Melissa B. Roe | Senior Vice President |
| LAO | Thomas W. Rose | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Rome D. Rottura | Senior Vice President |
| IND | Jennah N. Ruddick | Assistant Vice President |
| LAO | Leah O. Ryan | Vice President |
| IND | Brenda S. Rynski | Regional Vice President |
| LAO | Richard A. Sabec, Jr. | Senior Vice President |
| SNO | Richard R. Salinas | Vice President |
| LAOW | Erica Salvay | Vice President |
| LAO | Benjamin F. Samuels | Assistant Vice President |
| LAO | Michael C. Santangelo | Regional Vice President |
| LAO | Paul V. Santoro | Senior Vice President |
| LAO | David E. Saunders II | Vice President, Capital Group Institutional Investment Services Division |
| LAO | Keith A. Saunders | Senior Vice President |
| LAO | Joe D. Scarpitti | Senior Vice President |
| IND | Broderic C. Schoen | Assistant Vice President |
| LAO | Jackson T. Schuette | Regional Vice President |
| LAO | Domenic A. Sciarra | Assistant Vice President |
| LAO | Keon F. Scott | Regional Vice President |
| LAO | Mark A. Seaman | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | James J. Sewell III | Senior Vice President |
| LAO | Arthur M. Sgroi | Senior Vice President |
| LAO | Erin C. Sheehan | Regional Vice President |
| LAO | Puja V. Sheth | Assistant Vice President |
| LAO | Kelly S. Simon | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAOW | Anmol Sinha | Senior Vice President |
| SNO | Julia M. Sisente | Assistant Vice President |

---

---

| | | |
|:---|:---|:---|
| LAO | Melissa A. Sloane | Senior Vice President |
| LAO | Jason C. Smith | Regional Vice President |
| LAO | Joshua J. Smith | Regional Vice President |
| LAO | Taylor D. Smith | Regional Vice President |
| LAO | Stephanie L. Smolka | Vice President |
| LAO | J. Eric Snively | Senior Vice President |
| LAO | John A. Sobotowski | Assistant Vice President |
| SNO | Chadwick R. Solano | Assistant Vice President |
| LAO | Charles V. Sosa | Vice President |
| LAO | Alexander T. Sotiriou | Vice President |
| LAO | Steven J. Sperry | Assistant Vice President |
| LAO | Margaret V. Steinbach | Senior Vice President |
| LAO | Michael P. Stern | Senior Vice President |
| LAO | Andrew J. Strandquist | Senior Vice President |
| LAO | Allison M. Straub | Vice President |
| LAO | Valerie B. Stringer | Vice President |
| LAO | Jamie J. Suh | Assistant Vice President |
| LAO | John R. Sulzicki | Vice President |
| LAO | Jack Swigle | Regional Vice President |
| LAO | Peter D. Thatch | Senior Vice President |
| LAO | John B. Thomas | Senior Vice President |
| LAO | Cynthia M. Thompson | Senior Vice President, Capital Group Institutional Investment Services Division |
| SNO | Mark D. Thompson | Assistant Vice President |
| HRO | Stephen B. Thompson | Regional Vice President |
| LAO | Ryan D. Tiernan | Senior Vice President |
| LAO | Jordan A. Trevino | Senior Vice President |
| LAO | Michael J. Triessl | Director |
| LAO | Michael Trujillo | Vice President |

---

---

| | | |
|:---|:---|:---|
| CHO | Polina S. Tsybrovska | Assistant Vice President |
| LAO | Shaun C. Tucker | Senior Vice President |
| IRV | Sean M. Tupy | Vice President |
| SNO | Corey W. Tyson | Regional Vice President |
| IND | Ryan C. Tyson | Assistant Vice President |
| LAO | Jason A. Uberti | Vice President |
| LAO | David E. Unanue | Senior Vice President |
| LAO | John W. Urbanski | Regional Vice President |
| LAO | Veronica Vasquez | Vice President |
| LAO-W | Gerrit Veerman III | Senior Vice President, Capital Group Institutional Investment Services |
| LAO | Cynthia G. Velazquez | Assistant Vice President |
| LAO | Spilios Venetsanopoulos | Senior Vice President |
| LAO | J. David Viale | Senior Vice President |
| LAO | Austin J. Vierra | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Robert D. Vigneaux III | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Julie A. Vogel | Senior Vice President |
| IRV | Thu A. Vu | Assistant Vice President |
| LAO | Adam Waclawsky | Vice President |
| LAO | Jon N. Wainman | Vice President |
| LAO | Hudson Walker | Regional Vice President |
| ATO | Jason C. Wallace | Senior Vice President |
| LAO | Sherrie S. Walling | Vice President |
| LAO | Brian M. Walsh | Senior Vice President |
| LAO | Susan O. Walton | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Justin N. Wang | Regional Vice President |
| IND | Kristen M. Weaver | Vice President |
| LAO | Timothy S. Wei | Vice President |
| LAO | Sheraton Welch | Regional Vice President |

---

---

| | | |
|:---|:---|:---|
| SNO | Gordon S. Wells | Regional Vice President |
| LAO | George J. Wenzel | Senior Vice President |
| LAO | Jason M. Weybrecht | Senior Vice President, Capital Group Institutional Investment Services Division |
| LAO | Adam B. Whitehead | Senior Vice President |
| LAO | Gregory D. Williams II | Assistant Vice President |
| LAO | Ashley L. Wilson | Regional Vice President |
| LAO | Jonathan D. Wilson | Regional Vice President |
| LAO | Steven Wilson | Senior Vice President |
| LAO | Steven C. Wilson | Vice President |
| LAO | Anthony J. Wingate | Vice President |
| LAO | Benjamin Wirtshafter | Senior Vice President |
| LAO | Kimberly D. Wood | Senior Vice President, Capital Group Institutional Investment Services Division |
| IND | Benjamin T. Wooden | Regional Vice President |
| LAO | Jennifer N. Woodward | Assistant Vice President |
| IND | Matthew A. Wooten | Assistant Vice President |
| LAO | Elizabeth D. Yakes | Assistant Vice President |
| NYO | Mila I. Yankova | Senior Vice President |
| LAO | Jason P. Young | Senior Vice President |
| LAO | Jonathan A. Young | Senior Vice President |
| LAO | Lauren E. Zappia | Regional Vice President |
| LAO | Raul Zarco, Jr. | Vice President, Capital Group Institutional Investment Services Division |
| LAO | Heidi H. Zhang | Assistant Vice President |
| NYO | Tanya Zolotarevskiy | Vice President, Capital Group Institutional Investment Services Division |

---

__________

---

| | |
|:---|:---|
| HRO | Business Address, 5300 Robin Hood Road, Norfolk, VA 23513 |
| IND | Business Address, 12811 North Meridian Street, Carmel, IN 46032 |
| IRV | Business Address, 6455 Irvine Center Drive, Irvine, CA 92618 |
| LAO | Business Address, 333 South Hope Street, Los Angeles, CA 90071 |
| LAO-W | Business Address, 11100 Santa Monica Blvd., 18<sup>th</sup> Floor, Los Angeles, CA 90025 |
| NYO | Business Address, 399 Park Avenue, 34<sup>th</sup> Floor, New York, NY 10022 |
| SFO | Business Address, One Market Street, Suite 1800, San Francisco, CA 94105 |
| SNO | Business Address, 3500 Wiseman Boulevard, San Antonio, TX 78251 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) None

**Item 33.** **Location of Accounts and Records**

Accounts, books and other records required by Rules 31a-1 and 31a-2 under the Investment Company Act of 1940, as amended, are maintained and held in the offices of the Registrant's investment adviser, Capital Research and Management Company, 333 South Hope Street, Los Angeles, California 90071; 6455 Irvine Center Drive, Irvine, California 92618; and/or 5300 Robin Hood Road, Norfolk, Virginia 23513.

Registrant's records covering shareholder accounts are maintained and kept by its transfer agent, State Street Bank and Trust Company, One Lincoln Street, Boston, MA 02111.

Registrant's records covering portfolio transactions are maintained and kept by its custodian, State Street Bank and Trust Company, One Lincoln Street, Boston, MA 02111.

For Capital Group International Bond ETF (USD-Hedged), certain other books and records required to be maintained by the Registrant's investment adviser under Section 4.23 under the Commodity Exchange Act and the rules and regulations promulgated thereunder, including records relating to certain portfolio transactions, are maintained and kept in the offices of Capital Research and Management Company and American Funds Services Company, at the addresses provided above.

**Item 34.** **Management Services**

None

**Item 35.** **Undertakings**

n/a

 **SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Los Angeles, and State of California, on the 25<sup>th</sup> day of February, 2026.

CAPITAL GROUP FIXED INCOME ETF TRUST

By: <u>/s/ Michael W. Stockton</u>

(Michael W. Stockton, Executive Vice President)

Pursuant to the requirements of the Securities Act of 1933, this amendment to Registration Statement has been signed below on February 25, 2026, by the following persons in the capacities indicated.

---

| | | |
|:---|:---|:---|
|  | **<u>Signature</u>** | **<u>Title</u>** |
| (1) | Principal Executive Officer: | Principal Executive Officer: |
|  | <br><u>/s/ Michael W. Stockton</u><br> (Michael W. Stockton) | <br>Executive Vice President |
| (2) | Principal Financial Officer and Principal Accounting Officer: | Principal Financial Officer and Principal Accounting Officer: |
|  | <br><u>/s/ Sandra Chuon</u><br> (Sandra Chuon) | <br>Treasurer |
| (3) | Trustees: | Trustees: |
|  | Gina F. Adams\* | Trustee |
|  | Pramod Atluri\* | Trustee |
|  | Francisco C. Cigarroa\* | Trustee |
|  | Nariman Farvardin\* | Trustee |
|  | Jennifer C. Feikin\* | Trustee |
|  | Leslie Stone Heisz\* | Trustee |
|  | Merit E. Janow\* | Trustee |
|  | Martin E. Koehler\* | Trustee |
|  | Benjamin R. Miller\* | Trustee |
|  | Josette Sheeran\* | Trustee |
|  | Maragaret Spellings\* | Trustee |
|  | Alexandra Trower\*· | Trustee |
|  | Paul S. Williams\* | Chair (Independent and Non-Executive) |
|  | Courtney K. Wolf\* | Trustee |
|  | <br>\*By: <u>/s/ Courtney R. Taylor</u> |  |
|  | (Courtney R. Taylor, pursuant to a power of attorney filed herewith) | (Courtney R. Taylor, pursuant to a power of attorney filed herewith) |

---

Counsel represents that this amendment does not contain disclosures that would make the amendment ineligible for effectiveness under the provisions of Rule 485(b).

<u>/s/ Yvana Bustamante</u>

(Yvana Bustamante, Counsel)

**POWER OF ATTORNEY**

I, Gina F. Adams, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Balanced Fund (File No. 002-10758, File No. 811-00066)

- American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Developing World Growth and Income Fund (File No. 333-190913, File No. 811-22881)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- American Funds Fundamental Investors (File No. 002-10760, File No. 811-00032)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811 05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633)

- Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959)

- Capital Group Core Balanced ETF (File No. 333-271211, File No. 811-23867)

- Capital Group Dividend Value ETF (File No. 333-259023, File No. 811-23736)

- Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738)

- Capital Group International Core Equity ETF (File No. 333-276930, File No. 811-23935)

- Capital Group International Focus Equity ETF (File No. 333-259022, File No. 811-23734)

- Capital Group New Geography Equity ETF (File No. 333-276931, File No. 811-23936)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- EUPAC Fund (File No. 002-83847, File No. 811-03734)

- EUPAC Fund

- The Growth Fund of America (File No. 002-14728, File No. 811-00862)

- The Income Fund of America (File No. 002-33371, File No. 811-01880)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- International Growth and Income Fund (File No. 333-152323, File No. 811-22215)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- New Perspective Fund (File No. 002-47749, File No. 811-02333)

- New World Fund, Inc. (File No. 333-67455, File No. 811-09105)

- American Funds New World Fund

- Short-Term Bond Fund of America (File No. 333 135770, File No. 811-21928)

- SMALLCAP World Fund, Inc. (File No. 033-32785, File No. 811-05888)

- SMALLCAP World Fund

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

- Washington Mutual Investors Fund (File No. 002-11051, File No. 811 00604)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>Washington, DC</u>, on January 1, 2026.

(City, State)

<u>/s/ Gina F. Adams</u> 

Gina F. Adams, Board member

**POWER OF ATTORNEY**

I, Pramod Atluri, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633)

- Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959)

- Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>Los Angeles, CA</u>, on January 1, 2026.

(City, State)

<u>/s/ Pramod Atluri</u> 

Pramod Atluri, Board member

**POWER OF ATTORNEY**

I, Francisco G. Cigarroa, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Funds College Target Date Series (File No. 333-180729, File No. 811-22692)

- American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Insurance Series (File No. 002-86838, File No. 811-03857)

- American Funds Insurance Series

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Portfolio Series (File No. 333-178936, File No. 811-22656)

- American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633)

- Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959)

- Capital Group Core Equity ETF (File No. 333-259021, File No. 811-23735)

- Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738)

- Capital Group Global Growth Equity ETF (File No. 333-259024, File No. 811-23737)

- Capital Group Growth ETF (File No. 333-259020, File No. 811-23733)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>San Antonio, TX</u>, on January 1, 2026.

(City, State)

<u>/s/ Francisco G. Cigarroa</u> 

Francisco G. Cigarroa, Board member

**POWER OF ATTORNEY**

I, Nariman Farvardin, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Funds College Target Date Series (File No. 333-180729, File No. 811-22692)

- American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Insurance Series (File No. 002-86838, File No. 811-03857)

- American Funds Insurance Series

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Portfolio Series (File No. 333-178936, File No. 811-22656)

- American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633)

- Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959)

- Capital Group Core Equity ETF (File No. 333-259021, File No. 811-23735)

- Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738)

- Capital Group Global Growth Equity ETF (File No. 333-259024, File No. 811-23737)

- Capital Group Growth ETF (File No. 333-259020, File No. 811-23733)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>Hoboken, NJ</u>, on January 1, 2026.

(City, State)

<u>/s/ Nariman Farvardin</u> 

Nariman Farvardin, Board member

**POWER OF ATTORNEY**

I, Jennifer C. Feikin, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Funds College Target Date Series (File No. 333-180729, File No. 811-22692)

- American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Insurance Series (File No. 002-86838, File No. 811-03857)

- American Funds Insurance Series

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Portfolio Series (File No. 333-178936, File No. 811-22656)

- American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633)

- Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959)

- Capital Group Core Equity ETF (File No. 333-259021, File No. 811-23735)

- Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738)

- Capital Group Global Growth Equity ETF (File No. 333-259024, File No. 811-23737)

- Capital Group Growth ETF (File No. 333-259020, File No. 811-23733)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>Park City, Utah</u>, on January 1, 2026.

(City, State)

<u>/s/ Jennifer C. Feikin</u> 

Jennifer C. Feikin, Board member

**POWER OF ATTORNEY**

I, Leslie Stone Heisz, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Funds College Target Date Series (File No. 333-180729, File No. 811-22692)

- American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Insurance Series (File No. 002-86838, File No. 811-03857)

- American Funds Insurance Series

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Portfolio Series (File No. 333-178936, File No. 811-22656)

- American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633)

- Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959)

- Capital Group Core Equity ETF (File No. 333-259021, File No. 811-23735)

- Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738)

- Capital Group Global Growth Equity ETF (File No. 333-259024, File No. 811-23737)

- Capital Group Growth ETF (File No. 333-259020, File No. 811-23733)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>Los Angeles, CA</u>, on January 1, 2026.

(City, State)

<u>/s/ Leslie Stone Heisz</u> 

Leslie Stone Heisz, Board member

**POWER OF ATTORNEY**

I, Merit E. Janow, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- AMCAP Fund (File No. 002-26516, File No. 811-01435)

- American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- American Funds Global Balanced Fund (File No. 333-170605, File No. 811-22496)

- American Funds Global Insight Fund (File No. 333-233375, File No. 811-23468)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds International Vantage Fund (Fund No. 333-233374, File No. 811-23467)

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American Funds U.S. Small and Mid Cap Equity Fund (File No. 333-280621, File No. 811-23979)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- American Mutual Fund (File No. 002-10607, File No. 811-00572)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633)

- Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959)

- Capital Group Conservative Equity ETF (File No. 333-276928, File No. 811-23933)

- Capital Group Dividend Growers ETF (File No. 333-271210, File No. 811-23866)

- Capital Group Equity ETF Trust I (File No. 333-281924, File No. 811-24000)

- Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738)

- Capital Group Global Equity ETF (File No. 333-276927, File No. 811-23934)

- Capital Group International Equity ETF (File No. 333-271212, File No. 811-23865)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital Group U.S. Equity Fund (File No. 333-233376, File No. 811-23469)

- Capital Income Builder (File No. 033-12967, File No. 811-05085)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- Capital World Growth and Income Fund (File No. 033-54444, File No. 811-07338)

- Emerging Markets Equities Fund, Inc. (File No. 333-74995, File No. 811-04692)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- The Investment Company of America (File No. 002-10811, File No. 811-00116)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- The New Economy Fund (File No. 002-83848, File No. 811-03735)

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>New York, NY</u>, on January 1, 2026.

(City, State)

<u>/s/ Merit E. Janow</u> 

Merit E. Janow, Board member

**POWER OF ATTORNEY**

I, Martin E. Koehler, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Balanced Fund (File No. 002-10758, File No. 811-00066)

- American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Developing World Growth and Income Fund (File No. 333-190913, File No. 811-22881)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- American Funds Fundamental Investors (File No. 002-10760, File No. 811-00032)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633)

- Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959)

- Capital Group Core Balanced ETF (File No. 333-271211, File No. 811-23867)

- Capital Group Dividend Value ETF (File No. 333-259023, File No. 811-23736)

- Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738)

- Capital Group International Core Equity ETF (File No. 333-276930, File No. 811-23935)

- Capital Group International Focus Equity ETF (File No. 333-259022, File No. 811-23734)

- Capital Group New Geography Equity ETF (File No. 333-276931, File No. 811-23936)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- EUPAC Fund (File No. 002-83847, File No. 811-03734)

- EUPAC Fund

- The Growth Fund of America (File No. 002-14728, File No. 811-00862)

- The Income Fund of America (File No. 002-33371, File No. 811-01880)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- International Growth and Income Fund (File No. 333-152323, File No. 811-22215)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- New Perspective Fund (File No. 002-47749, File No. 811-02333)

- New World Fund, Inc. (File No. 333-67455, File No. 811-09105)

- American Funds New World Fund

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- SMALLCAP World Fund, Inc. (File No. 033-32785, File No. 811-05888)

- SMALLCAP World Fund

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

- Washington Mutual Investors Fund (File No. 002-11051, File No. 811-00604)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>Berlin, Germany</u>, on January 1, 2026.

(City, State)

<u>/s/ Martin E. Koehler</u> 

Martin E. Koehler, Board member

**POWER OF ATTORNEY**

I, Benjamin R. Miller, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633)

- Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959)

- Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>London, England</u> on January 1, 2026.

(City, State)

<u>/s/ Benjamin R. Miller</u> 

Benjamin R. Miller, Board member

**POWER OF ATTORNEY**

I, Josette Sheeran, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Balanced Fund (File No. 002-10758, File No. 811-00066)

- American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Developing World Growth and Income Fund (File No. 333-190913, File No. 811-22881)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- American Funds Fundamental Investors (File No. 002-10760, File No. 811-00032)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633)

- Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959)

- Capital Group Core Balanced ETF (File No. 333-271211, File No. 811-23867)

- Capital Group Dividend Value ETF (File No. 333-259023, File No. 811-23736)

- Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738)

- Capital Group International Core Equity ETF (File No. 333-276930, File No. 811-23935)

- Capital Group International Focus Equity ETF (File No. 333-259022, File No. 811-23734)

- Capital Group New Geography Equity ETF (File No. 333-276931, File No. 811-23936)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- EUPAC Fund (File No. 002-83847, File No. 811-03734)

- EUPAC Fund

- The Growth Fund of America (File No. 002-14728, File No. 811-00862)

- The Income Fund of America (File No. 002-33371, File No. 811-01880)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- International Growth and Income Fund (File No. 333-152323, File No. 811-22215)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- New Perspective Fund (File No. 002-47749, File No. 811-02333)

- New World Fund, Inc. (File No. 333-67455, File No. 811-09105)

- American Funds New World Fund

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- SMALLCAP World Fund, Inc. (File No. 033-32785, File No. 811-05888)

- SMALLCAP World Fund

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

- Washington Mutual Investors Fund (File No. 002-11051, File No. 811-00604)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>New York, NY</u>, on January 1, 2026.

(City, State)

<u>/s/ Josette Sheeran</u> 

Josette Sheeran, Board member

**POWER OF ATTORNEY**

I, Margaret Spellings, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Funds College Target Date Series (File No. 333-180729, File No. 811-22692)

- American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Insurance Series (File No. 002-86838, File No. 811-03857)

- American Funds Insurance Series

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Portfolio Series (File No. 333-178936, File No. 811-22656)

- American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633)

- Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959)

- Capital Group Core Equity ETF (File No. 333-259021, File No. 811-23735)

- Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738)

- Capital Group Global Growth Equity ETF (File No. 333-259024, File No. 811-23737)

- Capital Group Growth ETF (File No. 333-259020, File No. 811-23733)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>Washington DC</u>, on January 1, 2026.

(City, State)

<u>/s/ Margaret Spellings</u> 

Margaret Spellings, Board member

**POWER OF ATTORNEY**

I, Alexandra Trower, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Funds College Target Date Series (File No. 333-180729, File No. 811-22692)

- American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Insurance Series (File No. 002-86838, File No. 811-03857)

- American Funds Insurance Series

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Portfolio Series (File No. 333-178936, File No. 811-22656)

- American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633)

- Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959)

- Capital Group Core Equity ETF (File No. 333-259021, File No. 811-23735)

- Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738)

- Capital Group Global Growth Equity ETF (File No. 333-259024, File No. 811-23737)

- Capital Group Growth ETF (File No. 333-259020, File No. 811-23733)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>New York, NY</u>, on January 1, 2026.

(City, State)

<u>/s/ Alexandra Trower</u> 

Alexandra Trower, Board member

 **POWER OF ATTORNEY**

I, Paul S. Williams, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Funds College Target Date Series (File No. 333-180729, File No. 811-22692)

- American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Insurance Series (File No. 002-86838, File No. 811-03857)

- American Funds Insurance Series

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Portfolio Series (File No. 333-178936, File No. 811-22656)

- American Funds Retirement Income Portfolio Series (File No. 333-203797, File No. 811-23053)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Target Date Retirement Series (File No. 333-138648, File No. 811-21981)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633)

- Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959)

- Capital Group Core Equity ETF (File No. 333-259021, File No. 811-23735)

- Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738)

- Capital Group Global Growth Equity ETF (File No. 333-259024, File No. 811-23737)

- Capital Group Growth ETF (File No. 333-259020, File No. 811-23733)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>Chicago, IL</u>, on January 1, 2026.

(City, State)

<u>/s/ Paul S. Williams</u> 

Paul S. Williams, Board member

**POWER OF ATTORNEY**

I, Courtney K. Wolf, the undersigned Board member of the following registered investment companies (collectively, the "Funds"):

- American Funds Core Plus Bond Fund (File No. 333-286599, File No. 811-24077)

- American Funds Corporate Bond Fund (File No. 333-183929, File No. 811-22744)

- American Funds Emerging Markets Bond Fund (File No. 333-208636; File No. 811-23122)

- The American Funds Income Series – U.S. Government Securities Fund (File No. 002-98199, File No. 811-04318)

- American Funds Inflation Linked Bond Fund (File No. 333-183931, File No. 811-22746)

- American Funds Mortgage Fund (File No. 333-168595, File No. 811-22449)

- American Funds Multi-Sector Income Fund (File No. 333-228995, File No. 811-23409)

- American Funds Short-Term Tax-Exempt Bond Fund (File No. 033-26431, File No. 811-05750)

- American Funds Strategic Bond Fund (File No. 333-207474, File No. 811-23101)

- American Funds Tax-Exempt Fund of New York (File No. 333-168594, File No. 811-22448)

- The American Funds Tax-Exempt Series II – The Tax-Exempt Fund of California (File No. 033-06180, File No. 811-04694)

- American Funds U.S. Government Money Market Fund (File No. 333-157162, File No. 811-22277)

- American High-Income Municipal Bond Fund (File No. 033-80630, File No. 811-08576)

- American High-Income Trust (File No. 033-17917, File No. 811-05364)

- The Bond Fund of America (File No. 002-50700, File No. 811-02444)

- Capital Group Central Fund Series – Capital Group Central Cash Fund (File No. 811-23391)

- Capital Group Central Fund Series II - Capital Group Central Corporate Bond Fund (File No. 811-23633)

- Capital Group Completion Fund Series (File No. 333-278929, File No. 811-23959)

- Capital Group Fixed Income ETF Trust (File No. 333-259025, File No. 811-23738)

- Capital Group Private Client Services Funds (File No. 333-163115, File No. 811-22349)

- Capital World Bond Fund (File No. 033-12447, File No. 811-05104)

- Intermediate Bond Fund of America (File No. 033-19514, File No. 811-05446)

- Limited Term Tax-Exempt Bond Fund of America (File No. 033-66214, File No. 811-07888)

- Short-Term Bond Fund of America (File No. 333-135770, File No. 811-21928)

- The Tax-Exempt Bond Fund of America (File No. 002-49291, File No. 811-02421)

hereby revoke all previous powers of attorney I have signed and otherwise act in my name and behalf in matters involving the Funds and do hereby constitute and appoint

Randall F. Buonviri Jennifer L. Butler Patrick C. Castellani Jane Y. Chung Sandra Chuon Mariah L. Coria Susan K. Countess Brian C. Janssen Hong T. Le Melissa Leyva Gregory F. Niland Marilyn Paramo Becky L. Park W. Michael Pattie Michael W. Stockton Courtney R. Taylor Michael R. Tom

each of them singularly, my true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for me and in my name in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, any and all subsequent Amendments, or Post-Effective Amendments to said Registration Statement on Form N-1A or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933, and the Investment Company Act of 1940, as amended, and all related requirements of the U.S. Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof.

EXECUTED at <u>Los Angeles, CA</u>, on January 1, 2026.

(City, State)

<u>/s/ Courtney K. Wolf</u> 

Courtney K. Wolf, Board member

## Ex-99.H

**INDEMNIFICATION AGREEMENT**

This Indemnification Agreement (the "Agreement") is made as of the date set forth on the signature page by and between [Fund Name], a Delaware statutory trust (the "Fund"), and the trustee of the Fund whose name is set forth on the signature page (the "Board Member").

WHEREAS, the Board Member is a trustee of the Fund, and the Fund wishes the Board Member to continue to serve in that capacity; and

WHEREAS, the Agreement and Declaration of Trust of the Fund (the "Trust Instrument") and By-Laws of the Fund and applicable federal and Delaware laws permit the Fund to contractually obligate itself to indemnify and hold the Board Member harmless to the fullest extent permitted by law;

NOW, THEREFORE, in consideration of the foregoing recitals and the mutual agreements set forth herein, the parties hereby agree as set forth below. Certain capitalized terms used herein are defined in Section 5.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1. <u>Indemnification</u>.** The Fund shall indemnify and hold harmless the Board Member against any liabilities or Expenses (collectively, "Liability") actually and reasonably incurred by the Board Member in any Proceeding arising out of or in connection with the Board Member's service to the Fund, to the fullest extent permitted by the Trust Instrument and By-Laws of the Fund and the laws of the State of Delaware, the Securities Act of 1933, and the Investment Company Act of 1940, as now or hereafter in force, subject to the provisions of paragraphs (a), (b) and (c) of this Section 1. The Fund's Board of Trustees shall take such actions as may be necessary to carry out the intent of these indemnification provisions and shall not amend the Fund's Trust Instrument or By-laws to limit or eliminate the right to indemnification provided herein with respect to acts or omissions occurring prior to such amendment or repeal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Special Condition</u>. With respect to Liability to the Fund or its shareholders, and subject to applicable state and federal law, the Board Member shall be indemnified pursuant to this Section 1 against any Liability unless such Liability arises by reason of the Board Member's willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of his or her office as defined in such Section 17(h) of the Investment Company Act of 1940, as amended ("Disabling Conduct").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Special Process Condition</u>. With respect to Liability to the Fund or its shareholders, no indemnification shall be made unless a determination has been made by reasonable and fair means that the Board Member has not engaged in Disabling Conduct. Such reasonable and fair means shall be established in conformity with then applicable federal and Delaware law and administrative interpretations. In any determination with respect to Disabling Conduct, a trustee requesting indemnification who is not an "interested person" of the Fund, as defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended, shall be afforded a rebuttable presumption that such trustee did not engage in such conduct while acting in his or her capacity as a trustee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) <u>State Law Restrictions</u>. In accordance with the Delaware Statutory Trust Act, the Board Member shall not be indemnified and held harmless pursuant to this Section 1 if the substantive and procedural standards for indemnification under such law have not been met.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. <u>Advancement of Expenses</u>.** The Fund shall promptly advance funds to the Board Member to cover any and all Expenses the Board Member incurs with respect to any Proceeding arising out of or in connection with the Board Member's service to the Fund, to the fullest extent permitted by the laws of the State of Delaware, the Securities Act of 1933, and the Investment Company Act of 1940, as such statutes are now or hereafter in force, subject to the provisions of paragraphs (a) and (b) of this Section 2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Affirmation of Conduct.</u> A request by the Board Member for advancement of funds pursuant to this Section 2 shall be accompanied by the Board Member's written affirmation of his or her good faith belief that he or she met the standard of conduct necessary for indemnification, and such other statements, documents or undertakings as may be required under applicable federal and Delaware law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Special Conditions to Advancement</u>. With respect to Liability to the Fund or its shareholders, and subject to applicable state and federal law, the Board Member shall be entitled to advancements of Expenses pursuant to this Section 2 against any Liability to the Fund or its shareholders if (1) the Fund has obtained assurances to the extent required by applicable federal and Delaware law, such as by obtaining insurance or receiving collateral provided by the Board Member, to the reasonable satisfaction of the Board, that the advance will be repaid if the Board Member is found to have engaged in Disabling Conduct, or (2) the Board has a reasonable belief that the Board Member has not engaged in Disabling Conduct and ultimately will be entitled to indemnification. In forming such a reasonable belief, the Board of Trustees shall act in conformity with then applicable federal and Delaware law and administrative interpretations, and shall afford a trustee requesting an advance who is not an "interested person" of the Fund, as defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended, a rebuttable presumption that such trustee did not engage in Disabling Conduct while acting in his or her capacity as a trustee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. <u>Procedure for Determination of Entitlement to Indemnification and Advancements</u>.** A request by the Board Member for indemnification or advancement of Expenses shall be made in writing, and shall be accompanied by such relevant documentation and information as is reasonably available to the Board Member. The Secretary of the Fund shall promptly advise the Board of such request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Methods of Determination.</u> Upon the Board Member's request for indemnification or advancement of Expenses, a determination with respect to the Board Member's entitlement thereto shall be made by the Board or Independent Counsel in accordance with applicable federal and Delaware law. The Board Member shall have the right, in his or her sole discretion, to have Independent Counsel make such a determination. The Board Member shall cooperate with the person or persons making such determination, including without limitation providing to such persons upon reasonable advance request any documentation or information that is not privileged or otherwise protected from disclosure and is reasonably available to the Board Member and reasonably necessary to such determination. Any Expenses incurred by the Board Member in so cooperating shall be

borne by the Fund, irrespective of the determination as to the Board Member's entitlement to indemnification or advancement of Expenses.

(b<u>) Independent Counsel.</u> If the determination of entitlement to indemnification or advancement of Expenses is to be made by Independent Counsel, the Board of Trustees shall select the Independent Counsel, and the Secretary of the Fund shall give written notice to the Board Member advising the Board Member of the identity of the Independent Counsel selected. The Board Member may, within five days after receipt of such written notice, deliver to the Secretary of the Fund a written objection to such selection. Such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirement of independence set forth in Section 4, and shall set forth with particularity the factual basis of such assertion. Upon such objection, the Board of Trustees, acting in conformity with applicable federal and Delaware law, shall select another Independent Counsel.

If within fourteen days after submission by the Board Member of a written request for indemnification or advancement of Expenses no such Independent Counsel shall have been selected without objection, then either the Board or the Board Member may petition the Chancery Court of the State of Delaware or any other court of competent jurisdiction for resolution of any objection that shall have been made to the selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the court or by such other person as the court shall designate, and the person with respect to whom an objection is favorably resolved or the person so appointed shall act as Independent Counsel.

The Fund shall pay all reasonable fees and Expenses charged or incurred by Independent Counsel in connection with his or her determinations pursuant to this Agreement, and shall pay all reasonable fees and Expenses incident to the procedures described in this paragraph, regardless of the manner in which such Independent Counsel was selected or appointed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Failure to Make Timely Determination.</u> If the person or persons empowered or selected to determine whether the Board Member is entitled to indemnification or advancement of Expenses shall not have made such determination within thirty days after receipt by the Secretary of the Fund of the request therefor, the requisite determination of entitlement to indemnification or advancement of Expenses shall be deemed to have been made, and the Board Member shall be entitled to such indemnification or advancement, absent (i) an intentional misstatement by the Board Member of a material fact, or an intentional omission of a material fact necessary to make the Board Member's statement not materially misleading, in connection with the request for indemnification or advancement of Expenses, or (ii) a prohibition of such indemnification or advancements under applicable federal and Delaware law; provided, however, that such period may be extended for a reasonable period of time, not to exceed an additional thirty days, if the person or persons making the determination in good faith require such additional time to obtain or evaluate documentation or information relating thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Payment Upon Determination of Entitlement.</u> If a determination is made pursuant to Section 1 or Section 2 (or is deemed to be made pursuant to paragraph (c) of this Section 3) that the Board Member is entitled to indemnification or advancement of Expenses,

payment of any indemnification amounts or advancements owing to the Board Member shall be made within ten days after such determination (and, in the case of advancements of further Expenses, within ten days after submission of supporting information). If such payment is not made when due, the Board Member shall be entitled to an adjudication in a court of competent jurisdiction of the Board Member's entitlement to such indemnification or advancements. The Board Member shall commence such proceeding seeking an adjudication within one year following the date on which he or she first has the right to commence such proceeding pursuant to this paragraph (d). In any such proceeding, the Fund shall be bound by the determination that the Board Member is entitled to indemnification or advancements, absent (i) an intentional misstatement by the Board Member of a material fact, or an intentional omission of a material fact necessary to make his or her statement not materially misleading, in connection with the request for indemnification or advancements, or (ii) a prohibition of such indemnification or advancements under applicable federal and Delaware law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Appeal of Adverse Determination.</u> If a determination is made that the Board Member is not entitled to indemnification or advancements, the Board Member shall be entitled to an adjudication of such matter in any court of competent jurisdiction. Alternatively, the Board Member, at his or her option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the rules of the American Arbitration Association. The Board Member shall commence such proceeding or arbitration within one year following the date on which the adverse determination is made. Any such judicial proceeding or arbitration shall be conducted in all respect as a de novo trial or arbitration on the merits, and the Board Member shall not be prejudiced by reason of such adverse determination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Expenses of Appeal.</u> If the Board Member seeks a judicial adjudication of or an award in arbitration to enforce his or her rights under, or to recover damages for breach of, the indemnification or Expense advancement provisions of this Agreement, the Board Member shall be entitled to recover from the Fund, and shall be indemnified by the Fund against, any and all Expenses actually and reasonably incurred by the Board Member in such judicial adjudication or arbitration, but only if the Board Member prevails therein. If it shall be determined in such judicial adjudication or arbitration that the Board Member is entitled to receive part but not all of the indemnification or advancement of Expenses sought, the Expenses incurred by the Board Member in connection with such judicial adjudication or arbitration shall be prorated as the court or arbitrator determines to be appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Validity of Agreement</u>. In any judicial proceeding or arbitration commenced pursuant to this Section 3, the Fund shall be precluded from asserting that the procedures and presumptions set forth in this Agreement are not valid, binding and enforceable against the Fund, and shall stipulate in any such court or before any such arbitrator that the Fund is bound by all the provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. <u>General Provisions.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Non-Exclusive Rights</u>. The provisions for indemnification of, and advancement of Expenses to, the Board Member set forth in this Agreement shall not be deemed exclusive of any other rights to which the Board Member may otherwise be entitled. Notwithstanding the previous sentence, the indemnification provided for in this Agreement is in lieu of, and not in

addition to, the indemnification set forth in the Trust Instrument. The Fund shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to the extent that the Board Member has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Continuation of Provisions</u>. This Agreement shall be binding upon all successors of the Fund, including without limitation any transferee of all or substantially all assets of the Fund and any successor by merger, consolidation, or operation of law, and shall inure to the benefit of the Board Member's spouse, heirs, assigns, devisees, executors, administrators and legal representatives. The provisions of this Agreement shall continue until the later of (1) ten years after the Board Member has ceased to provide any service to the Fund, and (2) the final termination of all Proceedings in respect of which the Board Member has asserted, is entitled to assert, or has been granted rights of indemnification or advancement of Expenses hereunder and of any proceeding commenced by the Board Member pursuant to Section 3 relating thereto. Unless required by applicable federal or Delaware law, no amendment of the Trust Instrument or By-Laws of the Fund shall limit or eliminate the right of the Board Member to indemnification and advancement of Expenses set forth in this Agreement with respect to acts or omissions occurring prior to such amendment or repeal. In the event the Fund or any successor shall discontinue its operations within the term of this Agreement, adequate provision shall be made to honor the Fund's obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Selection of Counsel</u>. Counsel selected by the Board shall be entitled to assume the defense of any Proceeding for which the Board Member seeks indemnification or advancement of Expenses under this Agreement. However, counsel selected by the Board Member shall conduct the defense of the Board Member to the extent reasonably determined by such counsel to be necessary to protect the interests of the Board Member, and the Fund shall indemnify the Board Member therefor to the extent otherwise permitted under this Agreement, if (1) the Board Member reasonably determines that there may be a conflict in the Proceeding between the positions of the Board Member and the positions of the Fund or the other parties to the Proceeding that are indemnified by the Fund and not represented by separate counsel, or the Board Member otherwise reasonably concludes that representation of both the Board Member, the Fund and such other parties by the same counsel would not be appropriate, or (2) the Proceeding involves the Board Member but neither the Fund nor any such other party and the Board Member reasonably withholds consent to being represented by counsel selected by the Fund. If the Board has not selected counsel to assume the defense of any such Proceeding for the Board Member within thirty days after receiving written notice thereof from the Board Member, the Fund shall be deemed to have waived any right it might otherwise have to assume such defense.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>D&O Insurance</u>. For a period of at least six years after the Board Member has ceased to provide services to the Fund, the Fund shall purchase and maintain in effect, through "tail" or other appropriate coverage, one or more policies of insurance on behalf of the Board Member to the maximum extent of the coverage provided to the active members of the Board of Trustees of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Subrogation</u>. In the event of any payment by the Fund pursuant to this Agreement, the Fund shall be subrogated to the extent of such payment to all of the rights of recovery of the Board Member, who shall, upon reasonable written request by the Fund and at the Fund's expense, execute all such documents and take all such reasonable actions as are

necessary to enable the Fund to enforce such rights. Nothing in this Agreement shall be deemed to diminish or otherwise restrict the right of the Fund or the Board Member to proceed or collect against any insurers and to give such insurers any rights against the Fund under or with respect to this Agreement, including without limitation any right to be subrogated to the Board Member's rights hereunder, unless otherwise expressly agreed to by the Fund in writing, and the obligation of such insurers to the Fund and the Board Member shall not be deemed to be reduced or impaired in any respect by virtue of the provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Notice of Proceedings.</u> The Board Member shall promptly notify the Secretary of the Fund in writing upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding which may be subject to indemnification or advancement of expense pursuant to this Agreement, but no delay in providing such notice shall in any way limit or affect the Board Member's rights or the Fund's obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Notices.</u> All notices, requests, demands and other communications to a party pursuant to this Agreement shall be in writing, addressed to such party at the address specified on the signature page of this Agreement (or such other address as may have been furnished by such party by notice in accordance with this paragraph), and shall be deemed to have been duly given when delivered personally (with a written receipt by the addressee) or two days after being sent (1) by certified or registered mail, postage prepaid, return receipt requested, (2) by nationally recognized overnight courier service or (3) by tested electronic means.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Severability.</u> If any provision of this Agreement shall be held to be invalid, illegal, or unenforceable, in whole or in part, for any reason whatsoever, (1) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation, each portion of any Section of this Agreement containing any provision that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby, and (2) to the fullest extent possible, the remaining provisions of this Agreement shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Modification and Waiver.</u> This Agreement supersedes any existing or prior agreement between the Fund and the Board Member pertaining to the subject matter of indemnification, advancement of Expenses and insurance. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both parties or their respective successors or legal representatives. Any waiver by either party of any breach by the other party of any provision contained in this Agreement to be performed by the other party must be in writing and signed by the waiving party or such party's successor or legal representative, and no such waiver shall be deemed a waiver of similar or other provisions at the same or any prior or subsequent time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>Headings.</u> The headings of the Sections of this Agreement are for convenience only and shall not be deemed to control or affect the meaning or construction of any provision of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Counterparts.</u> This Agreement may be executed in one or more counterparts, each of which shall be an original, and all of which when taken together shall constitute one document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Applicable Law.</u> This Agreement shall be governed by and construed and enforce in accordance with the laws of the State of Delaware without reference to principles of conflict of laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. <u>Definitions</u>**. For purposes of this Agreement, the following terms shall have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "Board" means the board of trustees of the Fund, excluding those members of the board of trustees who are not eligible under applicable federal or Delaware law to participate in making a particular determination pursuant to Section 3 of this Agreement; provided, however, that if no two members of the Board of Trustees are eligible to participate, Board shall mean Independent Counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "Disabling Conduct" shall be as defined in Section 1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "Expenses" shall include without limitation all judgments, penalties, fines, amounts paid or to be paid in settlement, ERISA excise taxes, liabilities, losses, interest, expenses of investigation, attorneys' fees, retainers, court costs, transcript costs, fees of experts and witnesses, expenses of preparing for and attending depositions and other proceedings, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other costs, disbursements or expenses of the type customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, or acting as a witness in a Proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "Final termination of a Proceeding" shall mean a final adjudication by court order or judgment of the court or other body before which a matter is pending, from which no further right of appeal or review exists.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "Independent Counsel" shall mean a law firm, or a member of a law firm, that is experienced in matters of investment company law and neither at the time of designation is, nor in the five years immediately preceding such designation was, retained to represent (A) the Fund or the Board Member in any matter material to either, or (B) any other party to the Proceeding giving rise to a claim for indemnification or advancements hereunder. Notwithstanding the foregoing, however, the term "Independent Counsel" shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Fund or the Board Member in an action to determine the Board Member's rights pursuant to this Agreement, regardless of when the Board Member's act or failure to act occurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) "Independent Board Member" shall mean a trustee of the Fund who is neither an "interested person" of the Fund as defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended, nor a party to the Proceeding with respect to which indemnification or advances are sought.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) "Liability shall be as defined in Section 1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) "Proceeding" shall include without limitation any threatened, pending or completed claim, demand, threat, discovery request, request for testimony or information, action, suit, arbitration, alternative dispute mechanism, investigation, hearing, or other proceeding, including any appeal from any of the foregoing, whether civil, criminal, administrative or investigative, and shall also include any proceeding brought by the Board Member against the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Board Member's "service to the Fund" shall include without limitation the Board Member's service as a trustee, officer, employee, agent or representative of the Fund, and his or her service at the request of the Fund as a director, trustee, officer, employee, agent or representative of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date set forth below.

Dated: [Date]

[FUND NAME]

a Delaware Statutory Trust

By: _________

Name: <u>[Name]</u> 

Title: <u>Secretary</u> 

Address for notices:

 <u>333 South Hope Street</u> 

 <u>Los Angeles, CA 90071-1406</u> 

By:__________

Name: <u>[Name]</u> 

Address for notices:

<u>[Address]</u>____

## Ex-99.J

<u>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</u>

We hereby consent to the use in this Registration Statement on Form N-1A of Capital Group Fixed Income ETF Trust of our report dated February 13, 2026, relating to the financial statements and financial highlights of Capital Group Core Plus Income ETF, Capital Group Municipal Income ETF, Capital Group U.S. Multi-Sector Income ETF, Capital Group Short Duration Income ETF, Capital Group Core Bond ETF, Capital Group Short Duration Municipal Income ETF, Capital Group Ultra Short Income ETF, Capital Group International Bond ETF (USD-Hedged), Capital Group High Yield Bond ETF, and Capital Group Municipal High-Income ETF which appears in such Registration Statement. We also consent to the references to us under the headings "Financial highlights", "Independent registered public accounting firm", and "Prospectuses, reports to shareholders and proxy statements" in such Registration Statement.

/s/ PricewaterhouseCoopers LLP

Los Angeles, California

February 23, 2026

## Ex-99.P

[logo - The Capital Group]

**Code of Ethics**

**May 2025**

Capital Group associates are responsible for maintaining the highest ethical standards. The Code of Ethics is intended to help associates observe exemplary standards of integrity, honesty and trust. It sets out standards for our personal conduct, including personal investing, gifts and entertainment, outside business interests and affiliations, political contributions, insider trading, and client confidentiality.

Our fund shareholders and clients have placed their trust in Capital to manage their assets. As investment advisers, we act as fiduciaries to our clients. This means we owe them both a duty of care and a duty of loyalty.

Capital has earned a reputation over many years for acting with the highest integrity and ethics. Reputations are fragile, however, and Capital's reputation can be harmed if any of us fails to act ethically and in the best interests of our clients. We each must hold ourselves to the highest standards of behavior, regardless of business custom, and strive to avoid even the appearance of impropriety. We all share this responsibility — if you have any doubt whether an action or circumstance is consistent with our standards, raise it.

Associates should be aware that their actions outside of the workplace can reflect on the ethics of our organization and potentially harm our reputation. For this reason, associates should exercise caution and good judgment in order to avoid having their actions outside of the workplace impact Capital, our workplace or our associates.

No set of rules can anticipate every possible situation, so it is essential that associates adhere to the spirit as well as the letter of the Code of Ethics. Any activity that compromises the trust our clients have placed in us, even if it does not expressly violate a rule, has the potential to harm our reputation. Associates are reminded of one of Capital's core principles: that we must do the right thing as a matter of principle, not just in observance of policy.

In addition to the specific policies described below, associates have the following fundamental obligations under the Code of Ethics:

- Associates must avoid those situations that might place, or appear to place, their personal interests in conflict with the interests of Capital, our clients or fund shareholders.

- Associates must not take advantage of their role with Capital to benefit themselves or another party.

- Associates must comply with the laws, rules and regulations that apply to us in the conduct of our business.

- Associates must promptly report violations of the Code of Ethics.

It is important that all associates comply with the Code of Ethics, including its related guidelines and policies. **Failure to do so could result in disciplinary action, including termination.**

Questions regarding the Code of Ethics may be directed to the Code of Ethics Team.

**Working ethically**

In order to maintain the highest ethical standards, Capital strives to recruit, hire and retain exceptional and diverse talent. We can only do so by offering a work environment where associates have a voice, feel respected and can thrive, grow, and bring their most authentic selves to the workplace. In order to help foster such an environment, we have established certain employment policies designed in part to ensure associates interact in a professional, productive and inclusive manner. All associates are expected to be familiar and comply with these and the other policies included in our Associate Handbooks. Because we hold ourselves to the highest ethical standards, our policies often exceed what may be required by law or observed at other companies.

The following sections summarize some of your obligations under the Associate Handbook. Due to their importance to our workplace, violation of the policies in our Associate Handbooks could result in disciplinary action, up to and including termination of employment.

Providing equal employment opportunities and preventing discrimination and harassment

All associates at Capital are responsible for maintaining a professional, inclusive work environment. As an equal opportunity employer, we do not tolerate discrimination. Our policies prohibit unlawful discrimination on the basis of race, religion, color, national origin, ancestry, sex (including gender, gender expression and gender identity), pregnancy, childbirth and related medical conditions, age, physical or mental disability, medical condition, genetic information, marital status, sexual orientation, citizenship status, AIDS/HIV status, political activities or affiliations, military or veteran status, status as a victim of domestic violence, assault or stalking or any other characteristic protected by federal, state or local law.

Harassment is a form of discrimination and violates our commitment to equal employment opportunities. Harassment in violation of our policies occurs when unwelcome comments or conduct based on a protected status unreasonably interfere with an associate's work performance or create an intimidating, hostile or offensive work environment.

We are committed to promptly investigating and taking action to eliminate any discrimination and harassment that occurs in the workplace. When requested by our Human Resources or Legal Department, all associates are expected to cooperate fully in any investigation into a violation of our policies against discrimination and harassment. Our commitment is to address such claims promptly and to take corrective action as appropriate.

Associates are encouraged to report harassment to Human Resources, any manager in the organization or through our Open Line (contact information for Open Line is outlined below in **Reporting requirements**).

Close personal relationships in the office

When associates have a close personal, intimate or familial relationship in the workplace, it can create an actual or potential conflict of interest. It can also negatively impact the work environment. For this reason, Capital requires that all associates report any personal intimate or familial relationship with another associate or a business partner employee to Human Resources. Under this policy, certain relationships are prohibited, such as intimate relationships between managers and associates in their reporting lines.

Interacting with the public

Regardless of whether you are speaking on behalf of Capital or simply using social media for personal use, we expect all associates to maintain both client and firm confidentiality, and to protect the firm's reputation. The lines between public and private, personal and professional, can become blurred, particularly within the realm of social media. By identifying yourself as a Capital associate within a social network, you are connected, either directly or indirectly, to colleagues, managers, clients and investors. Information originally intended for friends and family can be forwarded and, ultimately, lead to unintended consequences. For this reason, associates should exercise extra caution and good judgment and avoid mixing personal and business social networks and ensure that they abide by all local laws and regulations and applicable Capital policies, such as the policy against harassment.

Protecting sensitive information

Capital Group regularly creates, collects, and maintains valuable proprietary information, which is essential to our business operations and the performance of services for our clients. This information derives its value, in part, from not being generally known outside of Capital (hereinafter "Confidential Information"). It includes confidential electronic information in any medium, hard-copy information, and information shared orally or visually (such as by telephone or video conference). The confidentiality, integrity and limited availability of such information is regarded as fundamental to the successful business operations of Capital Group. The purpose of the Confidential Information Policy is to protect our information from disclosure – intentional or inadvertent – and to ensure that associates understand their obligation to protect and maintain its confidentiality.

**Code of Ethics guidelines**

No special treatment from broker-dealers

Associates may not accept negotiated commission rates or any other terms they believe may be more favorable than the broker-dealer grants to accounts with similar characteristics. U.S. broker-dealers are subject to certain rules designed to prevent favoritism toward such accounts. Favors or preferential treatment from broker-dealers may not be accepted. This rule applies to the associate's spouse/spouse equivalent and any immediate family member residing in the same household.

No excessive trading of Capital-affiliated funds

Associates should not engage in excessive trading of the American Funds or other Capital-managed investment vehicles worldwide in order to take advantage of short-term market movements. Excessive activity, such as a frequent pattern of exchanges, could involve actual or potential harm to shareholders or clients. This rule applies to the associate's spouse/spouse equivalent and any immediate family member residing in the same household.

Ban on Initial Public Offerings (IPOs) and Initial Coin Offerings (ICOs)

All associates and immediate family members residing in the same household may not participate in IPOs or ICOs.

Exceptions for participation in IPOs are rarely granted; however, they will be considered on a case-by-case basis (for example, where a family member is employed by the IPO company and IPO shares are considered part of that family member's compensation).

Avoiding conflicts

Associates must avoid conflicts of interest that can occur when their business, financial or other interests interfere, or reasonably appear to interfere, with their duty to serve the interests of Capital and our clients. Conflicts of interest include any situation where financial or other personal factors compromise objectivity or professional judgment. Even the appearance of conflict could negatively impact Capital and harm our reputation.

Portfolio managers and investment analysts should be aware of the potential conflicts that can arise when they invest on behalf of fund shareholders and clients. The investments we make for our clients must be based on their best interests, and should not be, or appear to be, based on the self-interest of our associates. Accordingly, members of the investment group must disclose to the Code of Ethics Team if they or any of their family members, such as parents, children, siblings, in-laws or other family members with whom they have a close relationship, has a material business, financial or personal relationship with a company that they hold or are eligible

to purchase professionally. Examples of a material relationship include: (1) a family member serving as a senior officer or executive of a portfolio company, (2) significant beneficial ownership of a portfolio company by the associate or their family members, and (3) involvement by the associate or a family member in a significant transaction or business opportunity with a portfolio company.

In addition, associates should avoid conflicts related to Capital's business, and therefore must not:

- Engage in a business that competes, directly or indirectly, with the interests of Capital, or is related to their role or responsibilities at Capital;

Act for Capital in any transaction or business relationship that involves the associate, members of their family or other people or organizations with whom the associate or their family member(s) have a significant personal connection or financial interest;

- Negotiate with Capital on behalf of any such people or organizations; or

- Use or attempt to use their position at Capital to obtain any improper personal benefit for themselves, family member(s) or any other party.

No policy can anticipate every possible conflict of interest and all associates must be vigilant in guarding against anything that could color our judgment. Any associate who is aware of a transaction or relationship that could reasonably be expected to give rise to a conflict of interest or perceived conflict of interest must disclose the matter promptly to a member of the Code of Ethics Team. If there is any doubt or if something does not feel consistent with our standards, raise the issue.

Any changes in a previously disclosed potential conflict, outside business interest or affiliation that could be relevant to an evaluation of a potential conflict must also be promptly disclosed. Examples of changes to disclose include: (1) a change in research coverage of an investment analyst to include a company with a family member serving as a senior executive (even if the senior executive relationship had previously been disclosed); (2) a change in an associate's role to trader if the associate had previously disclosed a sibling who works as a sell-side trader; and (3) a change in the line of business or activities of an outside business interest of an associate.

Outside business interests/affiliations

Associates should avoid outside business interests or affiliations that may give rise to conflicts of interest or that may create divided loyalties, divert substantial amounts of their time, or compromise their independent judgment.

Associates must obtain approval from the Code of Ethics Team to serve on the board of directors or as an advisory board member of any public or private company. This rule does not apply to: (1) boards of Capital companies or funds; (2) board service that is a direct result of the associate's responsibilities at Capital, such as for portfolio companies of private equity funds managed by Capital; or (3) boards of non-profit and charitable organizations. Associates must disclose to the Code of Ethics Team if they serve on the board of a non-profit or charitable

organization that has issued or has future plans to issue publicly held securities, including debt obligations.

Submit pre-approval to serve on the board of directors or as an advisory board member directly in the compliance reporting application.

In addition, associates must disclose to the Code of Ethics Team if they or any of their family members, such as parents, children, siblings, in-laws or other family members with whom they have a close relationship:

- serves as a board director or as an advisory board member of,

- holds a senior officer position, such as CEO, CFO or Treasurer with, or

owns 5% or more, individually or together with other such family members, of

any public company or any private company that may be reasonably expected to go public.

In addition to the disclosure obligations set forth above, associates should be mindful of and must disclose to the Code of Ethics Team any other outside business interest or activity that may present a conflict of interest or the appearance of a conflict of interest or that may compromise their independent judgment. For example, associates must disclose if they have a significant interest in a private company that does business with or competes with Capital, even if that company is not reasonably expected to go public.

Family members employed by a financial institution

Associates who are "Covered Associates" (as defined below) must disclose if any of their family members, such as parents, children, siblings, in-laws or other family members with whom they have a close relationship, is employed by a broker-dealer, investment adviser or other firm that provides investment research or trade execution services to Capital.

Requests for approval or questions may be directed to the Code of Ethics Team.

Other guidelines

Statements and disclosures about Capital, including those made to fund shareholders and clients and in regulatory filings, should be accurate and not misleading.

**Reporting requirements**

Annual certification of the Code of Ethics

All associates are required to certify at least annually that they have read and understand the Code of Ethics. Questions or issues relating to the Code of Ethics should be directed to the associate's manager or the Code of Ethics Team.

Reporting violations

All associates are responsible for complying with the Code of Ethics. As part of that responsibility, associates are obligated to report violations of the Code of Ethics promptly, including: (1) fraud or illegal acts involving any aspect of Capital's business; (2) noncompliance with applicable laws, rules and regulations; (3) intentional or material misstatements in regulatory filings, internal books and records, or client records and reports; or (4) activity that is harmful to fund shareholders or clients. Deviations from controls or procedures that safeguard Capital, including the assets of shareholders and clients, should also be reported. Reported violations of the Code of Ethics will be investigated and appropriate action will be taken, which may include reporting the matter to the firm's regulator if determined to be appropriate by legal counsel. Once a violation has been reported, all associates are required to cooperate with Capital in the internal investigation of any matter by providing honest, truthful and complete information.

Associates may report confidentially to a manager/department head or to the Open Line Committee.

Associates may also contact the Chief Compliance Officers of CB&T, CGPCS, CIInc, CRC, CIAM, CRMC, or legal counsel employed with Capital.

**Capital strictly prohibits retaliation against any associate who in good faith makes a complaint, raises a concern, provides information or otherwise assists in an investigation regarding any conduct that he or she reasonably believes to be in violation of the Code of Ethics. This policy is designed to ensure that associates comply with their obligations to report violations without fear of retaliation.**

**Policies**

Capital's policies regarding gifts and entertainment, political contributions, insider trading and personal investing are summarized below.

Gifts and Entertainment Policy

The Gifts and Entertainment Policy is intended to ensure that gifts and entertainment involving associates do not raise questions of propriety regarding Capital's current or prospective business relationships, or Capital's interactions with government officials. If a gift or entertainment is excessive, repetitive or extravagant, it can raise the appearance of favoritism or the potential for a conflict of interest. By understanding and following the Gifts and Entertainment Policy requirements, associates help Capital safeguard the company and ensure compliance with regulatory rules.

Associates are prohibited from receiving or extending cash gifts, including cash equivalents, such as credit gift cards or cryptocurrencies. Any gifts from or to a Business Partner, a Business Partner Employee or Contingent Worker who is currently on

assignment at Capital is also prohibited. Associates may also not accept from or give to any one individual or entity a gift or group of gifts exceeding in aggregate US$100 in a 12-month calendar year period if such a person or entity conducts, or may conduct, business with Capital. Trading department associates are subject to different limits and reporting requirements and are generally not permitted to receive gifts. Trading associates may be asked to return gifts received.

Associates must receive approval from their manager and the Code of Ethics Team before accepting or extending entertainment with a market value greater than US$500. This value is cumulative for associates and their invited guests. All ticketed events should be approved by the associate's manager. Trading department associates are prohibited from accepting entertainment, regardless of value, unless the associate or Capital pays.

Submit pre-approval for an entertainment request directly in the compliance reporting application.

Gifts or entertainment extended by a Capital associate and approved by the associate's manager for reimbursement by Capital do not need to be reported (or pre-approved). Trading department associates should report gifts and entertainment extended regardless of reimbursement. Dollar amounts refer to U.S. dollars.

Please note CCG/PCS associates are subject to separate policies regarding extending or receiving gifts and entertainment and are also required under the Gifts and Entertainment Policy to report all gifts and entertainment, regardless of value.

Capital Group is registered as a federal lobbyist and special rules apply to gifts and entertainment involving government officials and employees as a result. Associates must receive approval from Capital's Code of Ethics Team prior to either: (1) hosting a federal government official or employee at a Capital facility if anything of value (e.g. food, tangible item) will be presented to that individual; or (2) providing anything of value to a federal government official or employee if Capital will pay or reimburse for the related cost.

Reporting

The limitations relating to gifts and entertainment apply to all associates as described above, and associates will be asked to complete quarterly disclosures. Associates must report any gift exceeding $50 and business entertainment in which an event exceeds $75 (although it is recommended that associates report all gifts and entertainment). Trading department associates should notify the Code of Ethics Team *when gifts are received* and report such gifts quarterly, whether the gift is received by an individual associate or by a department. In addition, trading associates should report all gifts and entertainment regardless of reimbursement.

Charitable contributions

Associates must not allow Capital's present or anticipated business to be a factor in soliciting political or charitable contributions from outside parties. In addition, it is generally not appropriate to solicit these outside parties or Capital associates for donations to a family-run non-profit organization, family foundation, donor-advised fund or other charitable organization in which an associate or their family members are significantly involved. Board membership alone would not be considered significant involvement.

Entertainment, Gifts and Personal Investing Committee (Committee)

The Committee oversees administration of the Gifts and Entertainment Policy. Questions regarding the Gifts and Entertainment Policy may be directed to the Code of Ethics Team.

Political Contributions Policy

Associates must be cautious when engaging in personal political activities, particularly when supporting officials, candidates, or organizations that may be in a position to influence decisions to award business to investment management firms. Associates should not make political contributions to officials or candidates (in any country) for the purpose of influencing the hiring of a Capital Group company as an advisor to a governmental entity. Associates are encouraged to contact the Code of Ethics Team with any questions about the Political Contributions Policy.

Associates may not use Capital offices or equipment to engage in political fundraising or solicitation activity, for example, hosting a fundraising event at the office or using Capital phones or email systems to help solicit donations for an elected official, a candidate, Political Action Committee (PAC) or political party. Associates may volunteer their time on behalf of a candidate or political organization but should limit volunteer activities to non-work hours.

For contributions or activities supporting candidates or political organizations *within the U.S.*, we have adopted the guidelines set forth below, which apply to associates classified as "Restricted Associates."<br>

Guidelines for political contributions and activities within the U.S.

<br> U.S. Securities and Exchange Commission (SEC) regulations limit political contributions to certain Covered Government Officials by certain employees of investment advisory firms and certain affiliated companies. "Covered Government Official," for purposes of the Political Contributions Policy, is defined as: (1) a state or local official; (2) a candidate for state or local office; or (3) a federal candidate currently holding state or local office.

Many U.S. cities and states have also adopted regulations restricting political contributions by associates of investment management firms seeking to provide services to a governmental entity. Some associates are also subject to these regulations.

Restricted Associates

Certain associates are deemed "Restricted Associates" under the Political Contributions Policy. Restricted Associates include (1) "covered associates" as defined in the SEC's rule relating to political contributions by investment advisers (Rule 206(4)-5 under the Investment Advisors Act of 1940); and (2) other associates who do not meet that definition but whom Capital has determined should be subject to the restrictions on political contributions contained in the Political Contributions Policy based on their roles and responsibilities at Capital. Contributions by Restricted Associates and their spouse/spouse equivalent are subject to specific limitations, pre-approval, and reporting requirements as described below.

Pre-approval of political contributions

Contributions by Restricted Associates to any of the following must be pre-approved:

- State or local officials, or candidates for state or local office

- Federal candidate campaigns and affiliated committees, including federal incumbents and presidential candidates

- Political organizations such as Political Action Committees (PACs), Super PACs and 527 organizations and ballot measure committees

- Non-profit organizations that may engage in political activities, such as 501(c)(4) and 501(c)(6) organizations

Restricted Associates must also obtain pre-approval for U.S. political contributions by their spouse/spouse equivalent to any of the foregoing, as well as contributions to any state, local or federal political party or political party committee, **<u>if</u>** the aggregate contributions by the Restricted Associate and spouse/spouse equivalent to any one candidate or political entity equals or exceeds $100,000 in a calendar year.

Certain documentation is required for contributions to Covered Governmental Officials, PACs or Super PACs, and may be required for contributions to other entities that engage in political activity. See "Required documentation" below for further details. Submit pre-approval requests directly in the compliance reporting application.

Contributions include:

- Monetary contributions, gifts or loans

- "In kind" contributions (for example, donations of goods or services or underwriting or hosting fundraisers)

- Contributions to help pay a debt incurred in connection with an election (including transition or inaugural expenses, and purchasing tickets to inaugural events)

- Contributions to joint fund-raising committees

- Contributions made by a Political Action Committee (PAC) controlled by a Restricted Associate<sup>[1]</sup>

<sup>[1]</sup> "Control" for this purpose includes service as an officer or member of the board (or other governing body) of a PAC.

Required documentation

Restricted Associates must obtain additional documentation from an independent legal authority before they will be approved to contribute to Covered Government Officials. The purpose of the legal documentation is to verify that a specific state or local office does not have the ability to directly or indirectly influence the awarding of business to an investment manager. For contributions to PACs, Super PACs, or other entities that engage in political activities, Restricted Associates may be required to obtain a certification that the entity does not contribute to Covered Government Officials. The Code of Ethics Team will provide language for the documentation when you obtain pre-approval for the contribution.

If a candidate currently holds a state/local office and is running for a different state/local office, legal documentation must be obtained for both the current position and the office for which the candidate is running. Exceptions to the documentation requirements may be granted on a case-by-case basis.

Special political contribution requirements – CollegeAmerica and ABLEAmerica

Certain associates involved with "CollegeAmerica," the American Funds 529 college savings plan and "ABLEAmerica," the American Funds nationwide plan for individuals with disabilities, sponsored by the Commonwealth of Virginia, are subject to additional restrictions which prohibit them from contributing to Virginia political candidates or parties.

Administration of the Political Contributions Policy

The U.S. Public Policy Coordinating Group oversees the administration of the Political Contributions Policy, including considering and granting possible exceptions. Questions regarding the Political Contributions Policy may be directed to the Code of Ethics Team.

Insider Trading Policy

Antifraud provisions of U.S. securities laws as well as the laws of other countries generally prohibit persons in possession of material non-public information from trading on or communicating the information to others. Sanctions for violations can include civil injunctions, permanent bars from the securities industry, civil penalties up to three times the profits made or losses avoided, criminal fines and jail sentences. In addition, trading in fund shares while in possession of material, non-public information that may have an immediate impact on the value of the fund's shares may constitute insider trading.

While investment research analysts are most likely to come in contact with material non-public information, the rules (and sanctions) in this area apply to all Capital associates and extend to activities both within and outside each associate's duties. Associates who believe they have material non-public information should contact any lawyer in the organization.

Personal Investing Policy

*This policy applies only to "Covered Associates." Special rules apply to certain associates in some non-U.S. offices.*

The Personal Investing Policy sets forth specific rules regarding personal investments that apply to "covered" associates. These associates may have access to confidential information that places them in a position of special trust. Under the Code of Ethics, associates are responsible for maintaining the highest ethical standards. Associates are reminded that the requirements of the Code of Ethics apply to personal investing activities, even if the matter is not covered by a specific provision of the Personal Investing Policy.

**Personal investing should be viewed as a privilege, not a right. As such, the Personal Investing Committee may place limitations on the number of preclearance/trade requests and/or transactions associates make.** 

Covered Associates

"Covered Associates" are associates with access to non-public information relating to current or imminent fund/client transactions, investment recommendations or fund portfolio holdings.<br> The Personal Investing Policy applies to the personal investments of Covered Associates, as well as those of any Covered Family Members. Covered Family Members include your spouse or dependent family member, whether they do or do not reside in your household. It also includes any immediate family members or a person with whom you have a committed relationship residing in your household. A family member may be children, siblings, and parents, including adoptive, step and in-law relationships.

Questions regarding coverage status should be directed to the Code of Ethics Team.

Additional rules apply to Investment Access Persons

Under this policy, additional restrictions apply to Investment Access Persons, including:

- Investment Professionals, such as portfolio managers, research analysts, research directors, trading associates, and fundamental research group associates, and

Other associates in roles that support certain investment group activities or applications, such as private wealth advisors, investment group administrative assistants, global investment control associates, environmental and social governance associates, and investment group technology associates.

These restrictions also apply to any Covered Family Members.

Prohibited transactions

The following transactions are prohibited:

- Initial Public Offering (IPO) investments (this prohibition applies to all Capital associates)

*Note: Exceptions are rarely granted; however, they will be considered on a case-by-case basis (for example, where a family member is employed by the IPO company and IPO shares are considered part of that family member's compensation).*

- Initial Coin Offering (ICO) investments (this prohibition applies to all Capital associates)

- Excessive trading of Capital-affiliated funds

- Spread betting/contracts for difference (CFD) on securities

- Transactions in derivatives on securities and financial contracts, such as options, futures and forwards contracts, with limited exceptions described below

- Short selling of securities – including short selling "against the box," with limited exceptions described below

- Interest rate swaps (IRS), with limited exceptions described below

Exceptions:

Derivatives, financial contracts, and short selling transactions are permitted only if they are based on non-reportable instruments (such as currencies and commodities) or if they are based on the S&P 500, Russell 2000 or MSCI EAFE indices

- Interest rate swaps are permitted if based on currencies and government bonds of the G7

Reporting requirements

Covered Associates are required to report any securities accounts, holdings and transactions: (1) in which the Covered Associate or any Covered Family Member has a pecuniary interest (in other words, the ability to obtain an economic benefit or otherwise profit from a security) or (2) over which the Covered Associate or any Covered Family Member exercises investment discretion or has direct or indirect influence or control. Quarterly or annual certifications of accounts, holdings and transactions must also be submitted. An electronic reporting platform is available for these disclosures.

Examples of accounts that must be disclosed include: (1) trusts if the Covered Associate or Covered Family Member are the grantor or serve as trustee or custodian or have the ability to appoint or remove the trustee, (2) trusts that you or a Covered Family Member have the power to revoke, (3) trusts for which you or a Covered Family Member are a beneficiary and exercise investment discretion or have direct or indirect influence or control, and (4) accounts of another person or entity if the Covered Associate or Covered Family Member makes or influences

investment decisions, such as by suggesting purchases and sales of securities in the account. The obligation to disclose accounts includes professionally managed accounts. Please see "Professionally managed accounts" in the Personal Investing Policy for more information.

Covered Associates should immediately notify the Code of Ethics Team when opening new securities accounts by logging into the compliance reporting application and entering the account information directly.

All Covered Associates and Covered Family Members must use an approved electronic reporting firm for all U.S.-based brokerage accounts. There are some exceptions to this requirement which include professionally managed accounts, employer-sponsored retirement accounts, and employee stock purchase plans. Contact the Code of Ethics Team with questions.

Account documentation, such as statements, trade confirmations or approved equivalent documentation is required for compliance purposes. This requirement includes employer-sponsored retirement accounts and employee stock purchase plans (ESPP, ESOP, 401(k)). Documentation allowing the acquisition of shares via an employer-sponsored plan may be required.

Pre-approval procedures

**Certain transactions may be exempt from pre-approval; please refer to the Personal Investing Policy for more details.**

Before any purchase or sale of securities subject to pre-approval, including securities that are not publicly traded, Covered Associates must receive approval from the Code of Ethics Team. This requirement applies to any purchase or sale of securities in which the Covered Associate or any Covered Family Member (1) has, or by reason of such transaction may acquire, pecuniary interest (in other words, the ability to obtain an economic benefit or otherwise profit from a security), or (2) exercises investment discretion or direct or indirect influence or control. Transactions in an approved professionally managed account are not subject to pre-approval, except for private investments or other limited offerings which require pre-approval and reporting. Please refer to the Personal Investing Policy for more details on securities that require pre-approval.

**Submitting preclearance/trade requests**

Submit preclearance/trade requests directly in the compliance reporting application.

Requests are reviewed during New York Stock Exchange (NYSE) hours. A response will generally be sent within one business day.

Unless a different period is specified, clearance is good until the close of the NYSE on the day of the request.

If the pre-approved trade has not been executed within the approved timeframe, a preclearance/trade request **must** be submitted again. For this reason, limit orders and margin accounts are strongly discouraged. Preclearance/trade requests should be submitted in the amount intended to trade and in the specific account in which the trade will take place.

Private investments or other limited offerings

Participation in private investments or other limited offerings are subject to special review. The following types of private investments must be pre-approved:

- Hedge funds

- Private companies

- Limited Liability Companies (LLCs)

- Limited Partnerships (LPs)

- Private equity funds

- Private funds

- Private placements

- Private real estate investment companies

- Venture capital funds

In addition, opportunities to acquire a stock that is "limited" (that is, a broker-dealer is only given a certain number of shares to sell and is offering the opportunity to buy) may be subject to the Gifts and Entertainment Policy.

**Pre-approval procedures for private investments**

Submit pre-approval for private investments directly in the compliance reporting application. Pre-approval is also required for additional investments in the same vehicle.

Additional policies for Investment Access Persons and CIKK associates

Ban on short-term trading

Investment Access Persons and CIKK associates are prohibited from engaging in short-term trading of reportable securities.

Associates and their Covered Family Members may not buy and then sell or sell and then buy the same security:

- Within 60 calendar days for Investment Access Persons

- Within 6 months for CIKK associates

This ban applies to transactions in all your accounts as well as accounts held by your Covered Family Members. For example, if you sell ABC company in your account, your spouse cannot purchase ABC company for 60 calendar days in their account.

Failure to comply with this requirement may result in remedial action, including disgorgement of the profits.

Blackout periods

Investment Access Persons may not buy or sell a security during the seven calendar days after Capital has transacted in that security's issuer for a fund or client account.

If Capital transacts in securities of the same issuer within seven calendar days after you transact, your personal transaction may be reviewed to determine the appropriate action, if any. For example, if you received a better price than the fund or client accounts, you may be subject to a price adjustment, and may be asked to donate to a charitable organization. This blackout period helps mitigate the appearance of front running.

Report cross-holdings for certain Investment Professionals

Portfolio managers, research directors and investment analysts are required to report issuers owned personally by you or a Covered Family Member that you also own professionally, on a quarterly basis. If you are a research director or an investment analyst, you are also required to report issuers owned personally by you or a Covered Family Member that are within your research responsibilities. This reporting must be made to the Code of Ethics Team and may be reviewed by various Capital committees.

When recommending a security for purchase or sale in a fund or client account that you or a Covered Family Member own personally, you should first disclose such personal ownership either in writing (in a company write-up) or verbally (when discussing the company at investment meetings) prior to making a recommendation. This disclosure requirement is consistent with both the CFA Institute standards as well as the ICI Advisory Group Guidelines.

Penalties for violating the Personal Investing Policy

Covered Associates may be subject to penalties for violating the Personal Investing Policy, such as restrictions on personal trading, disgorgement of profits, and other disciplinary action, up to and including termination. In addition, information about particular transactions may be provided to an associate's manager, appropriate Human Resources manager and/or a Chief Compliance Officer (CCO) by the Code of Ethics Team if the transactions are in violation of the Personal Investing Policy. These violations may raise conflict of interest-related issues or impact the associate's performance review.

Violations to the Personal Investing Policy include failure to obtain approval before trading and failure to report securities transactions, and accounts and reportable holdings.

Entertainment, Gifts and Personal Investing Committee (Committee)

The Committee oversees the administration of the Personal Investing Policy. Among other duties, the Committee considers certain types of preclearance/trade requests as well as requests for exceptions to the Personal Investing Policy.

Questions regarding the Personal Investing Policy may be directed to the Code of Ethics Team.

**\* \* \* \* \***

Questions regarding the Code of Ethics may be directed to the Code of Ethics Team.

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[logo - The Capital Group]

The following is representative of the Code of Ethics in effect for each Fund:

**CODE OF ETHICS**

With respect to non-affiliated Board members and all other access persons to the extent that they are not covered by The Capital Group Companies, Inc. policies:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· No Board member shall so use
 his or her position or knowledge gained therefrom as to create a conflict between his or her personal interest and that of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· No Board member shall engage
 in excessive trading of shares of the fund or any other affiliated fund to take advantage of short-term market movements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Each non-affiliated Board member
 shall report to the Secretary of the Fund not later than thirty (30) days after the end of each calendar quarter any transaction
 in securities which such Board member has effected during the quarter which the Board member then knows to have been effected within
 fifteen (15) days before or after a date on which the Fund purchased or sold, or considered the purchase or sale of, the same security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· For purposes of this Code of
 Ethics, transactions involving United States Government securities as defined in the Investment Company Act of 1940, bankers'
 acceptances, bank certificates of deposit, commercial paper, or shares of registered open-end investment companies are exempt from
 reporting as are non-volitional transactions such as dividend reinvestment programs and transactions over which the Board member
 exercises no control.

\* \* \* \*

In addition, the Fund has adopted the following standards in accordance with the requirements of Form N-CSR adopted by the Securities and Exchange Commission pursuant to Section 406 of the Sarbanes-Oxley Act of 2002 for the purpose of deterring wrongdoing and promoting: 1) honest and ethical conduct, including handling of actual or apparent conflicts of interest between personal and professional relationships; 2) full, fair, accurate, timely and understandable disclosure in reports and documents that a fund files with or submits to the Commission and in other public communications made by the fund; 3) compliance with applicable governmental laws, rules and regulations; 4) the prompt internal reporting of violations of the Code of Ethics to an appropriate person or persons identified in the Code of Ethics; and 5) accountability for adherence to the Code of Ethics. These provisions shall apply to the principal executive officer or chief executive officer and treasurer ("Covered Officers") of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. It is the responsibility of
 Covered Officers to foster, by their words and actions, a corporate culture that encourages honest and ethical conduct, including
 the ethical resolution of, and appropriate disclosure of conflicts of interest. Covered Officers should work to assure a working
 environment that is characterized by respect for law and compliance with applicable rules and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Each Covered Officer must act
 in an honest and ethical manner while conducting the affairs of the Fund, including the ethical handling of actual or apparent conflicts
 of interest between personal and professional relationships. Duties of Covered Officers include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Acting with integrity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Adhering to a high standard
 of business ethics; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Not using personal influence
 or personal relationships to improperly influence investment decisions or financial reporting whereby the Covered Officer would benefit
 personally to the detriment of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Each Covered Officer should
 act to promote full, fair, accurate, timely and understandable disclosure in reports and documents that the Fund files with or submits
 to, the Securities and Exchange Commission and in other public communications made by the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Covered Officers should familiarize
 themselves with disclosure requirements applicable to the Fund and disclosure controls and procedures in place to meet these requirements;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Covered Officers must not knowingly
 misrepresent, or cause others to misrepresent facts about the Fund to others, including the Fund's auditors, independent directors,
 governmental regulators and self-regulatory organizations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Any existing
 or potential violations of this Code of Ethics should be reported to The Capital Group Companies' Personal Investing Committee.
 The Personal Investing Committee is authorized to investigate any such violations and report their findings to the Chairman of the
 Audit Committee of the Fund. The Chairman of the Audit Committee may report violations of the Code of Ethics to the Board or other
 appropriate entity including the Audit Committee, if he or she believes such a reporting is appropriate. The Personal Investing Committee
 may also determine the appropriate sanction for any violations of this Code of Ethics, including removal from office, provided that
 removal from office shall only be carried out with the approval of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Application of this Code of
 Ethics is the responsibility of the Personal Investing Committee, which shall report periodically to the Chairman of the Audit Committee
 of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Material amendments to these
 provisions must be ratified by a majority vote of the Board. As required by applicable rules, substantive amendments to the Code
 of Ethics must be filed or appropriately disclosed.