Investing outside the United States involves

Since early 2018, global trade tensions have been simmering — and occasionally boiling over into talk of a trade war. Although much of the focus has centered on a tit-for-tat exchange of retaliatory tariffs between the U.S. and China, trade restrictions with North American and European allies also have taken a toll.Investors should avoid listening too closely to the short-term static of daily trade rhetoric.

but know that the eventual outcome likely will have economic, investment and political ramifications worldwide. Capital Group portfolio managers and economists provide perspective on this thorny and still-developing situation.Investing outside the United States involves risks, such as currency fluctuations, periods of illiquidity and price volatility, as more fully described in the prospectus. These risks may be heightened in connection with investments in developing countries.

The Capital Group companies manage equity assets through three investment groups. These groups make investment and proxy voting decisions independently. Fixed income investment professionals provide fixed income research and investment management across the Capital organization; however, for securities with equity characteristics, they act solely on behalf of one of the three equity investment groups.

The Capital Group companies manage equity assets through three investment groups. These groups make investment and proxy voting decisions independently. Fixed income investment professionals provide fixed income research and investment management across the Capital organization; however, for securities with equity characteristics, they act solely on behalf of one of the three equity investment groups.