Figures shown are past results and are not predictive of results in future periods. Current and future results may be lower or higher than those shown. Investing for short periods makes losses more likely. Prices and returns will vary, so investors may lose money. View mutual fund expense ratios and returns. View ETF expense ratios and returns. View current mutual fund SEC yields. View current ETF SEC yields.

^#Cash-like instruments like money market funds seek to provide some level of income. Bond funds can, at times, include an objective of providing greater income versus those cash-like investments, but may carry more risk. Money market funds often invest in higher quality, short-term investments issued by the U.S. government and corporations compared to the increased credit, interest rate and default risks that investors may be exposed to when holding bonds that have relative higher duration (interest rate risk) and lower credit quality. Short-term bond funds have exposure both to interest rate and credit risk. They invest primarily in sectors such as U.S. Treasuries, corporate bonds, securitized credit and municipal bonds. U.S. Treasuries are bonds backed by the U.S. government but prices may fluctuate based on interest rate changes. Corporate bonds contain both interest rate risk and credit risk, with debt payments reliant on the companies that issue the bonds. Securitized credit poses risks tied to their underlying investments in mortgages or other loans. Municipal bonds contain interest rate risk, credit risk, with debt payments reliant on municipal issuers. Payments and return of bond principal aren’t guaranteed, as markets and valuations can fluctuate. Money market funds are not guaranteed but seek to maintain a stable net asset value of $1 per share. 

Bloomberg U.S. Government/Credit 1-3 Years Index is a market-value weighted index that tracks the total return results of fixed-rate, publicly placed, dollar-denominated obligations issued by the U.S. Treasury, U.S. government agencies, quasi-federal corporations, corporate or foreign debt guaranteed by the U.S. government, and U.S. corporate and foreign debentures and secured notes that meet specified maturity, liquidity and quality requirements, with maturities of one to three years. 

Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index covers the universe of fixed-rate, non-investment-grade debt. The index limits the maximum exposure of any one issuer to 2%. 

The Bloomberg U.S. Treasury Index measures U.S. dollar-denominated, fixed-rate, nominal debt issued by the U.S. Treasury. Treasury bills are excluded by the maturity constraint, but are part of a separate Short Treasury Index. STRIPS are excluded from the index because their inclusion would result in double-counting. 

The Bloomberg U.S. Treasury: Long Index measures US dollar-denominated, fixed-rate, nominal debt issued by the U.S. Treasury with 10 years or more to maturity.

1. The expense ratios are as of each fund's prospectus available at the time of publication. The expense ratio for ETFs is estimated.

The average yield to worst is the lowest yield that can be realized by either calling or putting on one of the available call/put dates, or holding a bond to maturity.

When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower and net expenses higher. Please refer to capitalgroup.com for more information. Read details about how waivers and/or reimbursements affect the results for each fund. View results and yields without fee waiver and/or expense reimbursement.

Duration indicates a bond fund’s sensitivity to interest rates. Higher duration indicates more sensitivity. Effective duration is a duration calculation for bonds that takes into account that expected cash flows will fluctuate as interest rates change.

The after-tax (or tax-equivalent) yield of a municipal bond investment is the yield a taxable bond would have to offer to equal the same amount as the tax-exempt bond. Highest tax rate assumes the 3.8% Medicare tax and the top federal marginal tax rate for 2023 of 27%.

The five-year standard deviation measures the variability of returns over the preceding 60-month period.

Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. This index is unmanaged, and its results include reinvested dividends and/or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes.