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Source and information for “American Funds Model Portfolios” table: Morningstar. The Morningstar Medalist Rating™ is a forward-looking assessment assigned by Morningstar’s research analysts. It reflects their qualitative evaluation of an investment strategy’s potential to outpace its category average over a full market cycle on a risk-adjusted basis and net of fees. Morningstar bases its ratings on three key pillars — People, Parent and Process — alongside the Medalist Rating Price Score. The Medalist Rating does not reference a specific time period but is based on qualitative and select quantitative data from 4/27/26 through 4/29/26, respectively. Capital Group has paid Morningstar a licensing fee to access and publish its ratings data.

Gold medalist ratings (100% analyst-driven/100% data coverage) were affirmed as of April 28, 2026, for the following model portfolios, respectively: American Funds Tax-Aware Growth and Income Model Portfolio and American Funds Tax-Aware Moderate Growth and Income Model Portfolio. A Gold medalist rating (100% analyst-driven/100% data coverage) was affirmed as of April 27, 2026, for the following model portfolio: American Funds Tax-Aware Conservative Growth and Income Model Portfolio. Gold medalist ratings (100% analyst-driven/100% data coverage) were reaffirmed as of April 27, 2026, for the following model portfolios, respectively: American Funds Growth and Income Model Portfolio, American Funds Moderate Growth and Income Model Portfolio, American Funds Conservative Growth and Income Model Portfolio, American Funds Retirement Income Model Portfolio — Enhanced, American Funds Retirement Income Model Portfolio — Moderate, American Funds Retirement Income Model Portfolio — Conservative, American Funds Conservative Income Model Portfolio, American Funds Tax-Exempt Preservation Model Portfolio, American Funds Tax-Aware Conservative Income Model Portfolio Capital Group Active-Passive Global Growth Model, Capital Group Active-Passive Growth Model, Capital Group Active-Passive Moderate Growth Model, Capital Group Active-Passive Growth and Income Model, Capital Group Active-Passive Moderate Growth and Income Model, Capital Group Active-Passive Conservative Growth and Income Model, Capital Group Active-Passive Retirement Income Model — Enhanced, Capital Group Active-Passive Retirement Income Model — Moderate, and the Capital Group Active-Passive Retirement Income Model — Conservative. Gold medalist ratings (100% analyst-driven/100% data coverage) were reaffirmed as of April 28, 2026, for the following model portfolios, respectively: American Funds Global Growth Model Portfolio, American Funds Growth Model Portfolio, American Funds Moderate Growth Model Portfolio and American Funds Tax-Aware Moderate Income Model Portfolio.

Source and information for “American Funds Portfolio Series” and “Target Date” tables: Morningstar. For funds in the Portfolio Series (F-3), ratings provided are as of 4/27/26 for American Funds Growth and Income Portfolio, American Funds Moderate Growth and Income Portfolio, American Funds Conservative Growth and Income Portfolio, American Funds Tax-Aware Conservative Growth and Income Portfolio, American Funds Tax-Exempt Preservation Portfolio, American Funds Retirement Income Portfolio — Enhanced, American Funds Retirement Income Portfolio — Moderate, American Funds Retirement Income Portfolio — Conservative, and 4/28/26 for American Funds Global Growth Portfolio, American Funds Growth Portfolio, and American Funds Preservation Portfolio. For 2010 through 2070 vintages in the American Funds Target Date Retirement Income Series (R-6), ratings provided are as of 5/8/26. For 2010 through 2070 vintages in the Capital Group Target Date Retirement Income Series (TD2) and Capital Group Target Date Retirement Blend Series (TD2), ratings provided are as of 4/29/26 and 4/27/26, respectively.

Source and information for “Growth,” “Growth and income,” “Equity income” and “Balanced” tables: Morningstar. New Morningstar Medalist Ratings went into effect on 4/27/26 for all Capital Group equity-focused mutual funds and ETFs, except for New Perspective Fund, Washington Mutual Investors Fund, CGIC – Capital Group International Core Equity ETF and International Growth and Income Fund, which have rating dates of 4/29/26, 5/1/26, 5/11/26 and 5/12/26, respectively.

Source and information for “Taxable bond” and “Municipal bond” tables: Morningstar. For fixed income focused funds and ETFs, new Morningstar Medalist Ratings went into effect on 4/27/26, except for American High-Income Municipal Bond Fund, which has a rating date of 5/14/26.

Important information:

Morningstar is an independent organization, not affiliated with Capital Group. By making Analyst and Managed Investment Reports available via Capital Group’s paid sponsorship, Capital Group is not endorsing any research or opinions contained therein.

Capital Group did not compensate Morningstar for the ratings and comments contained in this material. However, the firm has paid Morningstar a licensing fee to access and publish its ratings data.

Source: Barron’s Best Fund Families as of February 26, 2026. Barron’s ranked Capital Group/American Funds No. 1 for 2025. To be included in the ranking, a firm must have at least three funds in the general equity category, one world equity, one mixed equity such as a balanced or target date fund, two taxable bond funds, and one national tax-exempt bond fund. Barron’s measured active mutual fund and ETF total returns for the 1-year period as of December 31, 2025, against all other active funds in their LSEG Lipper category, weighted by asset size, relative to a total of 46 fund families’ other assets in its general classification. A fund’s score is multiplied by the weight of its general classification as determined by the Lipper universe of funds. Returns are calculated without sales charges or 12b-1 fees. See Barron’s Best Fund Families article and the accompanying American Funds Quarterly Statistical Update for further information. Past results are not predictive of future results.

Model portfolios are provided to financial intermediaries who may or may not recommend them to clients. The portfolios consist of an allocation of funds for investors to consider and are not intended to be investment recommendations. The portfolios are asset allocations designed for individuals with different time horizons, investment objectives and risk profiles. Allocations may change. If a cash allocation is not reflected in a model, the intermediary may choose to add one. Capital Group does not have investment discretion or authority over investment allocations in client accounts. Rebalancing approaches may differ depending on where the account is held. Investors should talk to their financial professional for information on other investment alternatives that may be available. In making investment decisions, investors should consider their other assets, income and investments. Visit capitalgroup.com for current allocations.

Model portfolios are subject to the risks associated with the underlying funds in the model portfolio. Investors should carefully consider investment objectives, risks, fees and expenses of the funds in the model portfolio, which are contained in the fund prospectuses. Investing outside the United States involves risks, such as currency fluctuations, periods of illiquidity and price volatility. These risks may be heightened in connection with investments in developing countries. Smaller company stocks entail additional risks, and they can fluctuate in price more than larger company stocks. The return of principal for bonds and for funds with significant underlying bond holdings is not guaranteed. Fund shares are subject to the same interest rate, inflation and credit risks associated with the underlying bond holdings. Lower rated bonds are subject to greater fluctuations in value and risk of loss of income and principal than higher rated bonds. Investments in mortgage-related securities involve additional risks, such as prepayment risk. 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. Income from municipal bonds may be subject to state or local income taxes and/or the federal alternative minimum tax. Certain other income, as well as capital gain distributions, may be taxable. A nondiversified fund has the ability to invest a larger percentage of assets in the securities of a smaller number of issuers than a diversified fund. As a result, poor results by a single issuer could adversely affect fund results more than if the fund were invested in a larger number of issuers. See the applicable prospectus for details.

Allocations may not achieve investment objectives. The portfolios’ risks are related to the risks of the underlying funds as described herein, in proportion to their allocations.

Although the target date portfolios are managed for investors on a projected retirement date time frame, the allocation strategy does not guarantee that investors’ retirement goals will be met. Investment professionals manage the portfolio, moving it from a more growth-oriented strategy to a more income-oriented focus as the target date gets closer. The target date is the year that corresponds roughly to the year in which an investor is assumed to retire and begin taking withdrawals. Investment professionals continue to manage each portfolio for approximately 30 years after it reaches its target date.

Frequent and active trading of portfolio securities may occur, which may involve correspondingly greater transaction costs, adversely affecting the results. (Applies to American Funds Strategic Bond Fund and CGCP).

Investments in mortgage-related securities involve additional risks, such as prepayment risk. (Also applies to CGBL and CGCP.)

Interests in Capital Group’s U.S. Government Securities portfolios are not guaranteed by the U.S. government.

Lower rated bonds are subject to greater fluctuations in value and risk of loss of income and principal than higher rated bonds. (Also applies to CGBL, CGCP and CGMU.)

While not directly correlated to changes in interest rates, the values of inflation linked bonds generally fluctuate in response to changes in real interest rates and may experience greater losses than other debt securities with similar durations.

Income from municipal bonds may be subject to state or local income taxes and/or the federal alternative minimum tax. Certain other income, as well as capital gain distributions, may be taxable. (Also applies to CGMU.)

The Tax-Exempt Fund of California is more susceptible to factors adversely affecting issuers of its state’s tax-exempt securities than a more widely diversified municipal bond fund.

Investing outside the United States involves risks, such as currency fluctuations, periods of illiquidity and price volatility. These risks may be heightened in connection with investments in developing countries. (Also applies to CGBL, CGCP, CGGR, CGIC, CGNG, CGDV and CGUS.)

The return of principal for bond portfolios and portfolios with significant underlying bond holdings is not guaranteed. Investments are subject to the same interest rate, inflation and credit risks associated with the underlying bond holdings. (Also applies to CGBL, CGCP and CGMU.)

Nondiversified funds — CGBL, CGCV, CGGR, CGIC and CGNG — have the ability to invest a larger percentage of assets in the securities of a smaller number of issuers than a diversified fund. As a result, poor results by a single issuer could adversely affect fund results more than if the fund were invested in a larger number of issuers. See the applicable prospectus for details.

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. (Also applies to CGBL and CGCP.)

Smaller company stocks entail additional risks, and they can fluctuate in price more than larger company stocks.

For the American Funds Retirement Income Portfolio Series, payments consisting of return of capital will result in a decrease in an investor's fund share balance. Higher rates of withdrawal and withdrawals during declining markets may result in a more rapid decrease in an investor's fund share balance. Persistent returns of capital could ultimately result in a zero account balance.