Investment Fund

Share Class

Summary

Internal Prompt
Seeks inflation protection and income. By primarily investing in inflation-linked securities, this strategy is focused on protecting purchasing power. It seeks to add value by actively managing duration, curve and inflation exposures, while maintaining only a modest allocation to non-U.S. government bonds and certain corporate issues.
Price at NAV $9.42 as of 12/17/2025 (updated daily)
Fund Assets (millions) $14,103.5
Portfolio Managers
2
Expense Ratio
(Gross/Net %)
0.68 / 0.68%
Prospectus
Internal Prompt

Returns at NAV

Returns at MOP

Read important investment disclosures
3.03%
1-year return
-0.09%
5-year return
2.41%
10-year return
3.84%
30-Day SEC Yield
Returns as of 11/30/25 (updated monthly). Yield as of 11/30/25 (updated monthly).

Asset Mix

U.S. Equities0.0%
Non-U.S. Equities0.0%
U.S. Bonds93.3%
Non-U.S. Bonds2.9%
Cash & Equivalents
3.8%
As of 11/30/2025 (updated monthly)
Internal Prompt

Volatility & Return

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Fixed-Income

For Class 529-A Shares, this chart tracks the 10-year standard deviation
and 10-year annualized return of the fixed income funds
CNLAX
Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) Index
Other AF Funds
Standard Deviation as of 11/30/2025 (updated monthly) . Annualized return as of 11/30/2025 (updated monthly) .
VIEW LARGER CHART

Fund Statistics

4.1 years
Effective Duration
3.6%
Average Yield
to Worst
1%
Average Coupon
% of net assets as of 11/30/2025 (updated monthly)

Morningstar Style BoxTM— Fixed-Income

High Quality
Moderate Interest-Rate Sensitivity
Morningstar data as of 9/30/25 (updated quarterly)

Description

Objective
The fund's investment objective is to provide inflation protection and income consistent with investment in inflation linked securities.
Distinguishing Characteristics
By primarily investing in inflation-linked securities, this strategy is focused on protecting purchasing power. The strategy seeks to add value by actively managing duration, yield curve and exposure to inflation, while maintaining only a modest allocation to non-U.S. government bonds and certain corporate issues.
Portfolio Restrictions
At least 80% of the fund’s assets will be invested in inflation-linked bonds issued by governments, their agencies or instrumentalities, and corporations. Further, at least 80% of the fund’s assets will be invested in securities guaranteed or sponsored by the U.S. government. To the extent the fund invests in debt securities not guaranteed or sponsored by the U.S. government, the fund will invest in debt securities with quality ratings of Baa3 or better or BBB- or better.

Fund Facts

Fund Inception 12/14/2012
Fund Assets (millions)
As of 11/30/2025
 $14,103.5
Companies/Issuers
Holdings are as of 11/30/2025 (updated monthly).
 69+
Shareholder Accounts
Shareholder accounts are as of 11/30/2025
 4,558
Regular Dividends Paid
Dec
Minimum Initial Investment $250
Capital Gains Paid
Dec
Portfolio Turnover (2024) 23%
Fiscal Year-End Nov
Prospectus Date 02/01/2025
CUSIP 02630D 60 0
Fund Number 1060

Returns

Internal Prompt

Month-End Returns as of 11/30/25

Returns at NAV
| at MOP
Read important investment disclosures
CNLAX
Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) Index
ANNUAL RETURNS CHART

Quarter-End Returns as of 9/30/25

Growth of 10K

Read important investment disclosures

High & Low Prices

Internal Prompt

Yield

12-month
Distribution Rates
30-day SEC Yield
Fund at NAV 1.76% N/A
Fund at MOP 1.71% 3.84%
As of 11/30/2025 (updated monthly)

Portfolio Management

Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
Tim Ng 4 11 18
Ritchie Tuazon 5 14 25
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(138)
3-yr. Morningstar RatingTM
(138 funds rated)
5-yr. Morningstar RatingTM
(131 funds rated)
10-yr. Morningstar RatingTM
(107 funds rated)
Overall Morningstar Risk Average
HIGH
LOW
Category
Inflation-Protected Bond
ADVANTAGES AND DISADVANTAGES OF MORNINGSTAR RATINGS
Ratings are based on risk-adjusted returns as of 11/30/2025 (updated monthly).

Lipper Leader Scorecard

Over-all 3 yr. 5 yr. 10 yr.
Consistent Return Within Category
Funds Rated
(198)
(198)
(189)
(151)
Expense Within Category
Funds Rated
(164)
(164)
(141)
(120)
Preservation Within Category
Funds Rated
(6012)
(6012)
(5604)
(4235)
Tax Efficiency Within Category
Funds Rated
(198)
(198)
(189)
(151)
Total Return Within Category
Funds Rated
(198)
(198)
(189)
(151)
Category Infl Protected Bd Fds
KEY
HIGHEST LOWEST
As of 11/30/2025 (updated monthly)

Risk Measures

Fund
Standard Deviation
5.03
Sharpe Ratio
0.10
For the 10 Years ending 11/30/25 (updated monthly).
American Funds
Benchmark
Morningstar
Benchmark
Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) Index
Bloomberg US Agg Bond TR USD
R-squared
68 68
Beta
0.84 0.84
Capture Ratio (Downside/Upside)
77/92 77/92
American Funds Benchmark for the 10 Years ending 11/30/25 (updated monthly).
Morningstar Benchmark for the 10 Years ending 11/30/25 (updated monthly).
U.S. Treasuries/Agencies
87.1%
AAA/Aaa
1.5%
AA/Aa
0.7%
A
3.7%
BBB/Baa
2.7%
Unrated
0.4%
Cash & equivalents
2.9%
% of net assets as of 11/30/2025 (updated monthly)

Average Life Breakdown

0-4.9 Years
47.6%
5-9.9 Years
28.0%
10-19.9 Years
3.9%
20-29.9 Years
17.0%
30+ Years
0.2%
% of net assets as of 9/30/2025 (updated monthly)

Holdings

Bonds Breakdown

Bond Details

Total bond holdings
 U.S. Treasury bonds & notes 87.3%
Non-U.S. government/agency securities 2.2%
Asset-backed obligations 1.4%

% of net assets as of 9/30/2025 (updated quarterly)

Top Fixed-Income Issuers

U.S. Treasury
87.5%
Japan, Government of
1.3%
Boeing
0.6%
Morgan Stanley
0.5%
Ford Motor
0.5%
Amgen
0.4%
Verizon Communications
0.4%
Mexico (United Mexican States) (Government)
0.3%
Charter Communications
0.3%
Edison International
0.3%

% of net assets as of 10/31/2025 (updated monthly)

Geographic Breakdown

Regions
United States
93.3%
Europe
0.4%
Asia & Pacific Basin
1.7%
Other (Including Canada & Latin America)
0.8%
Cash & equivalents
3.8%
% of net assets as of 11/30/2025 (updated monthly)

Prices & Distributions

Internal Prompt

Historical Prices Month-End

2025

Historical Prices Year-End

Internal Prompt

Historical Distributions as of 12/17/25

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
12/17/25 12/17/25 12/18/25 $0.3109 $0.00 $0.00 $0.00 $9.42
2025 Year-to-Date: Dividends Subtotal: $0.3109 Cap Gains Subtotal: $0.00
Total Distributions: $0.3109

Fees & Expenses

Internal Prompt

Fees

Annual Management Fees 0.25%
Other Expenses 0.20%
Service 12b-1 0.23%
As of each fund's most recent prospectus.
Internal Prompt

Expense Ratio

CNLAX 0.68%
Lipper Inflation Protected Bond Funds Average
0.74%
Fund as of most recent prospectus. Lipper Category as of 9/30/25 (updated quarterly).