At a glance
CGNG charges 0.64% a year, above the 0.4% average of the 3 funds most like it (the most expensive of 4). It has $3.00B in assets, the 3rd largest of that group; it paid 0.65% of its price in distributions over the past 12 months, annual. Over the past year it returned +7.3% with distributions reinvested (S&P 500: +11.5%), the weakest of those 4 funds. Its ten largest positions make up 29.4% of the fund, out of 243 in all.
The short version
Capital Group New Geography Equity ETF (CGNG) is an actively managed stock fund. It buys companies that earn a large share of their business in developing countries, wherever those companies are based. There is no index: its managers pick the stocks, and the fund can own US companies such as Microsoft and NVIDIA. That flexibility costs 0.64% a year, compared with 0.09% for the iShares Core MSCI Emerging Markets ETF (IEMG).
Price history
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CGNG +7.3% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| CGNG official prospectus, to Dec 31, 2025 | — | +29.91% | — | — | — | +18.15% |
| CGNG price data to Oct 27, 2026 | +6.8% | +7.3% | — | — | — | +14.5% |
- Over the year to Oct 27, 2026, CGNG returned +7.3%, 4th of 4 among similar funds.
- Its worst full calendar year was 2025 (+29.8%); its best was 2025 (+29.8%).
- The deepest fall in its price history was 15.9% (Oct 7, 2024 to Apr 8, 2025), recovered by May 12, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +6.8% | — |
| 2025 | +29.8% | +29.91% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.2200 |
What's inside
As of Aug 31, 2026, the fund held 243 securities; the ten largest made up 29.4% of assets, and 2.5% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| Taiwan Semiconductor Manufacturing Co Ltd | 10.57% | |
| SK hynix Inc | 4.82% | |
| Samsung Electronics Co Ltd | 3.63% | |
| Tencent Holdings Ltd | 2.08% | |
| Broadcom Inc | 1.57% | |
| MercadoLibre Inc | 1.51% | |
| NVIDIA Corp | 1.42% | |
| Microsoft Corp | 1.31% | |
| Banco Bilbao Vizcaya Argentaria SA | 1.26% | |
| Grupo Mexico SAB de CV | 1.25% | |
| First Quantum Minerals Ltd | 1.21% | |
| Alphabet Inc | 1.14% | |
| Bharti Airtel Ltd | 1.10% | |
| Rolls-Royce Holdings PLC | 0.98% | |
| Contemporary Amperex Technology Co Ltd | 0.98% |
By country
United States 14.26%Taiwan 13.39%South Korea 12.47%India 8.15%Cayman Islands 8%By asset type
Stocks 97.9%Preferred stock 0.2%What changed recently
- Over the three months to Aug 31, 2026, investors added a net $639.1M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +1.09%, -3.31%, +2.00%.
How it works
CGNG does not track an index. Capital Group's managers decide what it owns. At least 80% of the fund goes into stocks and similar securities, mainly companies with significant exposure to developing countries (often called emerging or frontier markets). A company can be based anywhere, including the US or Europe, if about 20% or more of its assets or revenues come from developing countries. That is why US-based companies made up 14.26% of the fund as of August 31, 2026. At least 30% must go into companies based in a list of developing countries the adviser keeps, such as Brazil, China, India, Mexico and Saudi Arabia.
Capital Group splits the portfolio into slices. Each slice is run by a different manager. They look for attractively valued companies with long-term potential and sell when a stock no longer looks attractive. There is no fixed rebalancing schedule. Portfolio turnover was 63%, which means the managers trade fairly often. As of August 31, 2026, the fund held 243 stocks, and the 10 largest made up 29.4%. Taiwan Semiconductor was 10.6%, SK hynix 4.8% and Samsung Electronics 3.6%.
The fund is "nondiversified," so it may put larger stakes in fewer companies. It may hold depositary receipts, which are certificates that stand for shares of a foreign company. As of August 31, 2026, it held no derivatives and 2.5% in cash.
What it really costs
- CGNG charges 0.64% a year, versus an average of 0.4% for the similar funds below (4th of 4, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $65 in the first year and $798 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| CGNG | $65 | $205 | $357 | $798 |
In a retirement portfolio
It is an actively managed, nondiversified developing-markets fund that has swung more than the overall market and has under three years of history.
CGNG could add companies tied to faster-growing economies, such as chipmakers in Taiwan and South Korea, that a US-focused portfolio may hold little of. But it launched on June 25, 2024, so it has no record in the 2008, 2020 or 2022 downturns. Its only full calendar year, 2025, returned 29.91%. Its deepest drop was 15.9%, from October 7, 2024 to April 8, 2025. It recovered by May 12, 2025. Its beta was 1.45 for the year to October 27, 2026. Beta measures how much a fund moves compared with the overall market, so 1.45 means bigger swings. A real bear market could hit it harder than it has been hit so far. That matters for anyone who may need to sell shares in a bad year.
The yield was 0.65% as of October 27, 2026, paid once a year, so the fund provides little income. It costs 0.64% a year, or $65 in the first year on a $10,000 investment under the SEC's standard example. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting Capital Group's active stock picking in developing economies, with room to own US and European companies such as Microsoft and BBVA.
- Growth investors comfortable with a large chip bet: Taiwan Semiconductor was 10.6% of assets as of August 31, 2026, ahead of SK hynix.
- Long-term savers adding a small growth slice who accept bigger swings; its one-year beta, a market-sensitivity gauge, was 1.45 as of October 27, 2026.
Look elsewhere if
- Cost-focused investors: the 0.64% annual expense ratio is the highest among similar funds, versus 0.09% for iShares Core MSCI Emerging Markets ETF (IEMG).
- Retirees who need regular income: it pays distributions annually, and its trailing yield was just 0.65% as of October 27, 2026.
- Investors wanting a long track record: launched in June 2024, the fund has no history through the 2020 COVID crash or 2022 bear market.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
Net assets from each fund's latest N-PORT or annual report where available. Returns through Oct 27, 2026.Questions investors ask
What is CGNG ETF?
CGNG is Capital Group's actively managed New Geography Equity ETF. It launched on June 25, 2024. It invests in companies with significant business in developing countries, both companies based there and multinationals elsewhere. As of August 31, 2026, it held 243 stocks and had about $3.0 billion in net assets. The largest positions were Taiwan Semiconductor (10.6%), SK hynix (4.8%), Samsung Electronics (3.6%) and Tencent (2.1%). It is nondiversified, which means it can put larger stakes in fewer companies.
Why does CGNG own US stocks like Microsoft and NVIDIA?
The fund's rules let it buy a company based anywhere if roughly 20% or more of that company's assets or revenues come from developing countries. That is how US-based companies such as Broadcom, NVIDIA, Microsoft and Alphabet qualify. US companies made up 14.26% of the fund as of August 31, 2026, the largest country weight, ahead of Taiwan at 13.39% and South Korea at 12.47%. An emerging-markets index fund would usually not hold these companies.
CGNG vs IEMG: what's the difference?
IEMG, the iShares Core MSCI Emerging Markets ETF, is an index fund. CGNG is actively managed and can also own multinationals based in developed countries. Their holdings overlap by about 24%. IEMG costs much less: 0.09% a year versus 0.64%. Returns as of late October 2026 also favored IEMG, at 13.3% over one year versus 7.3% for CGNG. IEMG is far larger, with about $160.9 billion in net assets as of August 31, 2026, versus about $3.0 billion for CGNG.
Does CGNG pay dividends?
Yes, but not much, and only once a year. The trailing 12-month yield was 0.65% as of October 27, 2026, or about $0.22 per share. The fund's goal is long-term capital appreciation, meaning growth in share value, not income. Investors who want regular cash payments will find that most of CGNG's potential return comes from price changes, not dividends.
How has CGNG performed since launch?
CGNG returned 29.91% in 2025, its only full calendar year. Its average annual return from launch to December 31, 2025 was 18.15%, according to its prospectus. Its strongest quarter was up 14.6% (ended June 30, 2025). Its weakest was still up 1.21% (ended March 31, 2025). Results have been weaker since then: 7.3% over the year to October 27, 2026, behind CGGO's 8.8% and IEMG's 13.3%. Its deepest drop was 15.9%.