High-Income Bond Fund
Data updated: 2026-08-27
C000121503 — High-Income Bond Fund. Intermediate Corporate Bond · $894.52M AUM · 0.87% expense ratio. Holdings, fees, performance and SEC filings.
C000121503 Fund Overview
High-Income Bond Fund is a US mutual fund managed by American Funds Insurance Series, categorised as Intermediate Corporate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: American Funds Insurance Series
- Category: Intermediate Corporate Bond
- Assets under management: $894.52M
- 1-year return: 6.1%
- SEC CIK: 0000729528
- SEC series ID: S000008787
- Share class ID: C000121503
C000121503 Investment Objective and Strategy
High-Income Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by American Funds Insurance Series.
Investment objective
The funds primary investment objective is to provide you with a high level of current income.
Principal investment strategy
The fund invests primarily in higher yielding and generally lower quality debt securities (rated Ba1 / BB+ or below by Nationally Recognized Statistical Rating Organizations or unrated but determined by the funds 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 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 investment adviser uses a system of multiple portfolio managers in managing the funds assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers. The fund relies on the professional judgment of its investment adviser to make decisions about the funds 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, long-term investment opportunities. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.
C000121503 Holdings
Top 10 holdings of High-Income Bond Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Capital Group Central Cash Fund | 6.03% |
| Diebold Nixdorf, Inc. | 1.75% |
| Rotech Healthcare, Inc. (new) | 1.32% |
| Dish Network Corp. | 1.27% |
| Fxi Holdings, Inc. | 0.83% |
| Connect Finco Sarl / Connect US Finco LLC | 0.80% |
| Nexstar Media, Inc. | 0.78% |
| Nfe Financing LLC | 0.72% |
| Mpt Operating Partnership LP | 0.72% |
| Nfe Brazil Financing Ltd. | 0.69% |
C000121503 Portfolio Allocation
Asset-class allocation of High-Income Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 83.4% |
| Cash & Equivalents | 6.0% |
| Equity | 5.3% |
| Loans | 3.9% |
C000121503 Performance
Total returns for C000121503 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 2.1% |
| 1 year | 6.1% |
| 3 years (annualised) | 9.1% |
| 5 years (annualised) | 4.5% |
C000121503 Risk Information
Risk metrics for C000121503, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 2.6%
C000121503 Costs and Fees
C000121503 costs about $87 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.87%
- Gross expense ratio: 0.95%
- Portfolio turnover: 39%
- Brokerage commissions: 0.02 bps of average net assets (SEC N-CEN)
C000121503 Cashflows
Over the 12 months to 2026-06, High-Income Bond Fund had net outflows of $93.03M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $21.41M |
| 2026-05 | $385.22K |
| 2026-04 | $14.03M |
| 2026-03 | −$183.12M |
| 2026-02 | −$2.18M |
| 2026-01 | −$1.24M |
C000121503 Debt Constituents
Largest debt holdings of High-Income Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Dish Network Corp. | 1.27% |
| Fxi Holdings, Inc. | 0.83% |
| Connect Finco Sarl / Connect US Finco LLC | 0.80% |
| Nexstar Media, Inc. | 0.78% |
| Nfe Financing LLC | 0.72% |
| Mpt Operating Partnership LP | 0.72% |
| Nfe Brazil Financing Ltd. | 0.69% |
| Echostar Corp. | 0.62% |
| Echostar Corp. | 0.62% |
| Cloud Software Group LLC | 0.61% |
C000121503 Prospectus and SEC Filings
Official High-Income Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-30
- Prospectus (485BPOS) — filed 2025-04-30
- Prospectus (485BPOS) — filed 2024-04-30
- Portfolio holdings (N-PORT) — filed 2026-08-27
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2026-03-16
- Annual census (N-CEN) — filed 2025-03-17
Related Funds
Other Intermediate Corporate Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.