Investment Fund

Share Class
Purchase Restrictions: Shares of American Funds U.S. Small and Mid Cap Equity Fund ("fund") are not offered to the public. Investments in the fund may be made only by certain institutional investors, including investment companies and certain other investment vehicles and accounts managed by the fund's investment adviser and its affiliates.

Summary

Internal Prompt
A core U.S. small and midcap fund. The fund takes a bottom-up fundamental approach to investing in U.S. companies that generally fall within the market cap range of the Russell 2500 or Russell Midcap Index.
Price at NAV $11.47 as of 12/19/2025 (updated daily)
Fund Assets (millions) $135.3
Portfolio Managers
4
Expense Ratio
(Gross/Net %)
2.17 / 1.61%
Prospectus
Internal Prompt

Returns at NAV

Returns at MOP

Asset Mix

U.S. Equities97.3%
Non-U.S. Equities0.0%
U.S. Bonds0.0%
Non-U.S. Bonds0.0%
Cash & Equivalents
2.7%
As of 11/30/2025 (updated monthly)
Internal Prompt

Volatility & Return

Read important investment disclosures

Volatility & Return chart is not available for funds less than 10 years old.

Market Capitalization

6.5%
Large
52.7%
Medium
40.8%
Small
$27,635.00 Million
Weighted Average


As of 9/30/2025 (updated quarterly). FactSet data as of 9/30/2025 (updated quarterly).

Morningstar Ownership ZoneTM

Mid-Cap Blend
Weighted average of holdings
75% of fund's stock holdings
Morningstar data as of 9/30/25 (updated quarterly)
INSIGHTS ON THE MORNINGSTAR OWNERSHIP ZONE

Description

Objective
The fund’s investment objective is to seek capital appreciation.
Distinguishing Characteristics
The U.S. fund seeks capital appreciation by investing in long-term compounders including secular growers, discounted cyclicals and under-appreciated companies with a bias towards quality management and business models. The fund aims to be fully invested at all times and own solely U.S.-domiciled companies.
Types of Investments
Primarily invests in U.S. common stocks, as well as other equity-type securities and cash and equivalents.

Fund Facts

Fund Inception 9/27/2024
Fund Assets (millions)
As of 11/30/2025
 $135.3
Companies/Issuers
Holdings are as of 11/30/2025 (updated monthly).
 153+
Shareholder Accounts
Shareholder accounts are as of 11/30/2025
 1
Regular Dividends Paid
Dec
Minimum Initial Investment $0
Capital Gains Paid
Dec
Portfolio Turnover (2025) 28%
Fiscal Year-End Aug
Prospectus Date 11/01/2025
CUSIP 02630J 821
Fund Number 22210

Returns

Internal Prompt

Month-End Returns as of 11/30/25

Returns at NAV
| at MOP
Read important investment disclosures
RMDEX
Russell 2500 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 0.13% 0.40%
Fund at MOP N/A N/A
As of 11/30/2025 (updated monthly)

Valuation

Price/ Price/ Price/
Book
Cash Flow
Earnings
Fund 2.61 13.63 17.13
Russell 2500 Index
2.10 9.40 15.60
Fund as of 9/30/25. Index as of 9/30/25.
Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
Matt Hochstetler 0 11 20
Roz Hongsaranagon 0 22
Dimitrije Mitrinovic 0 17 23
Andraz Razen 0 20 26
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(--) 		--
3-yr. Morningstar RatingTM
(-- funds rated) 		--
5-yr. Morningstar RatingTM
(-- funds rated) 		--
10-yr. Morningstar RatingTM
(-- funds rated) 		--
Overall Morningstar Risk --
Category
Mid-Cap Blend
ADVANTAGES AND DISADVANTAGES OF MORNINGSTAR RATINGS
Ratings are based on risk-adjusted returns as of -- (updated monthly).

Lipper Leader Scorecard

Over-all 3 yr. 5 yr. 10 yr.
Consistent Return Within Category
Funds Rated
Expense Within Category
Funds Rated
Preservation Within Category
Funds Rated
Tax Efficiency Within Category
Funds Rated
Total Return Within Category
Funds Rated
Category --
KEY
HIGHEST LOWEST

Risk Measures

Fund
Standard Deviation
--
Sharpe Ratio
--
For the ending 11/30/25 (updated monthly).
American Funds
Benchmark
Morningstar
Benchmark
Russell 2500 Index
S&P 500 TR USD
R-squared
-- --
Beta
-- --
Capture Ratio (Downside/Upside)
--/-- --/--
American Funds Benchmark for the ending -- (updated monthly).
Morningstar Benchmark for the ending 11/30/25 (updated monthly).

Holdings

Equities Breakdown

Sectors | Top Industries
No top sectors data is available at this time.

Top Equities

Capital One Financial
2.9%
US Foods
2.4%
Fifth Third Bancorp
1.9%
RenaissanceRe Holdings
1.8%
Hilton Worldwide
1.8%
Victory Capital Holdings
1.8%
XPO
1.7%
YUM! Brands
1.7%
Comfort Systems USA
1.5%
Vail Resorts
1.5%

% of net assets as of 11/30/2025 (updated monthly)

Geographic Breakdown

Regions
United States
97.3%
Cash & equivalents
2.7%
% of net assets as of 11/30/2025 (updated monthly)

The New Geography of Investing ®

Equity Portion Breakdown by Domicile | Equity Portion Breakdown by Revenue
Regions Fund
Russell 2500 Index
United States 100.0% 99.2%

% of net assets as of 11/30/2025 (updated monthly)

Fund Breakdown by Domicile

Regions Fund
Russell 2500 Index
United States 97.4% 99.2%
Cash & equivalents
2.6% --

% 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 12/19/25

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
12/19/25 12/19/25 12/22/25 $0.0498 $0.00 $0.00 $0.00 $11.47
2025 Year-to-Date: Dividends Subtotal: $0.0498 Cap Gains Subtotal: $0.00
Total Distributions: $0.0498

Fees & Expenses

Internal Prompt

Fees

Annual Management Fees 0.45%
Other Expenses 0.97%
Service 12b-1 0.75%
As of each fund's most recent prospectus.
Internal Prompt

Expense Ratio

Gross Net
RMDEX 2.17% 1.61%
Lipper Mid-Cap Funds Average
--%
Fund as of most recent prospectus. Lipper Category as of -- (updated quarterly).