Investment Fund

Share Class
Purchase Restrictions: Class 529-E share funds are available only for employer-sponsored CollegeAmerica accounts.

Summary

Internal Prompt
Balancing income and preservation. Limited-term bond strategy that seeks to reduce interest rate risk and diversify equity exposure by holding only investment-grade, dollar-denominated bonds in a portfolio with a dollar-weighted average effective maturity between three and five years.
Price at NAV $12.56 as of 6/13/2025 (updated daily)
Fund Assets (millions) $25,616.6
Portfolio Managers
6
Expense Ratio
(Gross/Net %)
0.86 / 0.83%
Quarterly Fund Fact Sheet (PDF)
Prospectus
Internal Prompt

Returns at NAV

Returns at MOP

Asset Mix

U.S. Equities0.0%
Non-U.S. Equities0.0%
U.S. Bonds90.5%
Non-U.S. Bonds3.9%
Cash & Equivalents
5.6%
As of 5/31/2025 (updated monthly)
Internal Prompt

Volatility & Return

Read important investment disclosures

Fixed-Income

For Class 529-E Shares, this chart tracks the 10-year standard deviation
and 10-year annualized return of the fixed income funds
CBOEX
U.S. Intermediate-Term Fixed Income Custom Benchmark
Other AF Funds
Standard Deviation as of 05/31/2025 (updated monthly) . Annualized return as of 05/31/2025 (updated monthly) .
VIEW LARGER CHART

Fund Statistics

4.3 years
Effective Duration
4.6%
Average Yield
to Worst
4.3%
Average Coupon
% of net assets as of 5/31/2025 (updated monthly)

Morningstar Style BoxTM— Fixed-Income

High Quality
Limited Interest-Rate Sensitivity
Morningstar data as of 3/31/25 (updated quarterly)

Description

Objective
The fund's investment objective is to provide you with current income consistent with the maturity and quality standards described in this prospectus and preservation of capital.
Distinguishing Characteristics
Balancing income and preservation, this limited-term bond strategy seeks to reduce interest rate risk and diversify equity exposure by holding only investment-grade, dollar-denominated bonds in a portfolio with a dollar-weighted average effective maturity between three and five years.
Types of Investments
Primarily invests in corporate bonds, U.S. government bonds or notes, GNMA certificates and other mortgage-related securities, as well as cash.
Maturity
The fund's portfolio will have dollar-weighted average maturities of no less than three years and no greater than five years.
Portfolio Restrictions
The fund invests primarily in debt securities rated A or better and may invest up to 10% of its assets in debt securities rated BBB/Baa (or unrated, but determined by the fund’s investment adviser to be of equivalent quality).

Fund Facts

Fund Inception 2/19/1988
Fund Assets (millions)
As of 5/31/2025
 $25,616.6
Companies/Issuers
Holdings are as of 5/31/2025 (updated monthly).
 987+
Shareholder Accounts
Shareholder accounts are as of 5/31/2025
 775
Regular Dividends Paid
Monthly
Minimum Initial Investment $250
Capital Gains Paid
Dec
Portfolio Turnover (2024) 360%
Fiscal Year-End Aug
Prospectus Date 11/01/2024
CUSIP 458809 80 3
Fund Number 1523

Returns

Internal Prompt

Month-End Returns as of 5/31/25

Returns at NAV
| at MOP
Read important investment disclosures
CBOEX
U.S. Intermediate-Term Fixed Income Custom Benchmark
ANNUAL RETURNS CHART

Quarter-End Returns as of 3/31/25

Growth of 10K

Read important investment disclosures

High & Low Prices

Internal Prompt

Yield

12-month
Distribution Rates
30-day SEC Yield
Fund at NAV 3.81% 3.81%
Fund at MOP N/A N/A
As of 5/31/2025 (updated monthly)
Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
David J. Betanzos 6 23 27
Karen Choi 5 17 29
Vincent J. Gonzales 5 13 17
Steven D. Lotwin 4 22
Fergus N. MacDonald 11 21 32
John R. Queen 4 23 35
A boldface number indicates that years of experience with Capital Group is equal to years of experience with investment industry.

Ratings & Risk

Morningstar Rating TM


Overall Morningstar RatingTM
Funds rated(528)
3-yr. Morningstar RatingTM
(528 funds rated)
5-yr. Morningstar RatingTM
(485 funds rated)
10-yr. Morningstar RatingTM
(368 funds rated)
Overall Morningstar Risk High
HIGH
LOW
Category
Short-Term Bond
ADVANTAGES AND DISADVANTAGES OF MORNINGSTAR RATINGS
Ratings are based on risk-adjusted returns as of 5/31/2025 (updated monthly).
Internal Prompt

Lipper Leader Scorecard

Over-all 3 yr. 5 yr. 10 yr.
Consistent Return Within Category
Funds Rated
(165)
(165)
(149)
(120)
Expense Within Category
Funds Rated
(92)
(92)
(83)
(67)
Preservation Within Category
Funds Rated
(6104)
(6104)
(5649)
(4234)
Tax Efficiency Within Category
Funds Rated
(165)
(165)
(149)
(120)
Total Return Within Category
Funds Rated
(165)
(165)
(149)
(120)
Category Sht-Int Inv Grd Dbt Fds
KEY
HIGHEST LOWEST
As of 5/31/2025 (updated monthly)

Risk Measures

Fund
Standard Deviation
3.17
Sharpe Ratio
-0.20
For the 10 Years ending 5/31/25 (updated monthly).
American Funds
Benchmark
Morningstar
Benchmark
U.S. Intermediate-Term Fixed Income Custom Benchmark
Bloomberg US Agg Bond TR USD
R-squared
94 89
Beta
1.13 0.59
Capture Ratio (Downside/Upside)
120/105 53/61
American Funds Benchmark for the 10 Years ending 5/31/25 (updated monthly).
Morningstar Benchmark for the 10 Years ending 5/31/25 (updated monthly).
U.S. Treasuries/Agencies
23.8%
AAA/Aaa
19.4%
AA/Aa
33.3%
A
10.1%
BBB/Baa
6.1%
BB/Ba
0.0%
Unrated
1.6%
Cash & equivalents
5.5%
% of net assets as of 5/31/2025 (updated monthly)

Average Life Breakdown

0-4.9 Years
68.6%
5-9.9 Years
25.1%
10-19.9 Years
0.9%
20-29.9 Years
0.1%
30+ Years
--
% of net assets as of 3/31/2025 (updated monthly)

Holdings

Bonds Breakdown

Bond Details

Total bond holdings
U.S. Treasury bonds & notes 23.1%
Asset-backed obligations 14.5%
Non-U.S. government/agency securities 1.2%

% of net assets as of 3/31/2025 (updated quarterly)

Top Fixed-Income Issuers

U.S. Treasury
23.4%
Fannie Mae
10.4%
Federal Home Loan Mortgage
10.2%
UMBS
7.4%
Ginnie Mae II
1.3%
Edison International
0.6%
New Economy Assets - Phase 1 Sponsor
0.6%
PG&E
0.4%
Ford Motor
0.4%
Mars
0.4%

% of net assets as of 4/30/2025 (updated monthly)

Prices & Distributions

Internal Prompt

Historical Prices Month-End

2025

Historical Prices Year-End

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Historical Distributions as of 06/13/25

FIND HISTORICAL DISTRIBUTIONS
2025
Record
Date		 Calculated
Date		 Pay Date
Income Dividend Regular
Income Dividend Special
Cap. Gains Long-Term
Cap. Gains Short-Term
Reinvest NAV
Daily 01/31/25 02/03/25 $0.0391428 $0.00 $0.00 $0.00 $12.44
Daily 02/28/25 03/03/25 $0.0384072 $0.00 $0.00 $0.00 $12.59
Daily 03/31/25 04/01/25 $0.0402885 $0.00 $0.00 $0.00 $12.60
Daily 04/30/25 05/01/25 $0.0391662 $0.00 $0.00 $0.00 $12.69
Daily 05/30/25 06/02/25 $0.0398591 $0.00 $0.00 $0.00 $12.57
2025 Year-to-Date: Dividends Subtotal: $0.1968638 Cap Gains Subtotal: $0.00
Total Distributions: $0.1968638

Fees & Expenses

Internal Prompt

Fees

Annual Management Fees 0.24%
Other Expenses 0.13%
Service 12b-1 0.49%
As of each fund's most recent prospectus.
Internal Prompt

Expense Ratio

Gross Net
CBOEX 0.86% 0.83%
Lipper Short-Intmdt Investment Grade Debt Funds Average
0.47%
Fund as of most recent prospectus. Lipper Category as of 3/31/25 (updated quarterly).