It's digesting higher interest rates brought on by elevated inflation," noted Grant Cambridge, equities portfolio manager at Capital Group. We are finding companies that can best adapt to the changing environment and grow the dividend on a persistent basis.” CGDG's largest positions included BP, Broadcom, Equinix, Nippon Telegraph and Telephone, Philip Morris International, and Taiwan Semiconductor. Mortgage-backed securities offer attractive current prices and should do particularly well if interest rate volatility declines.” CGCP is one of the six Capital Group ETFs managing more than $1 billion in assets.