Investment Fund

Purchase Restrictions: Class R-5 shares are available in certain employer-sponsored retirement plans. See the prospectus for details.

Summary

Internal Prompt
A balanced retirement income strategy. This portfolio is designed for retirees who seek a balanced approach to downside risk, income and growth of capital.
Price at NAV $14.12 as of 12/04/2025 (updated daily)
Fund Assets (millions) $1,627.4
Portfolio Solutions Committee Members
7
Expense Ratio
(Gross/Net %)
0.36 / 0.36%
Quarterly Fund Fact Sheet (PDF)
Prospectus

Asset Mix

U.S. Equities34.9%
Non-U.S. Equities17.4%
U.S. Bonds36.6%
Non-U.S. Bonds4.9%
Cash & Equivalents
6.0%
As of 10/31/2025 (updated monthly)

Fund Statistics

5.6 years
Effective Duration
4.8%
Average Yield
to Worst
4.8%
Average Coupon
% of net assets as of 10/31/2025 (updated monthly)
Internal Prompt

Volatility & Return

Read important investment disclosures

Equities

For Class R-5 Shares, this chart tracks the 10-year standard deviation
and 10-year annualized return of the equity funds
RRRPX
S&P Target Date Retirement Income 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
Internal Prompt

Returns at NAV

Returns at MOP

Description

Objective
The fund strives for the balanced accomplishment of three investment objectives: current income, long-term growth of capital and conservation of capital.
Distinguishing Characteristics
The fund will invest in a mix of American Funds in varying combinations and weightings over time. The Moderate Portfolio offers investors an intermediate investment option, with greater potential for current income and long-term growth than the Conservative Portfolio, but less volatility and downside risk relative to the Enhanced Portfolio.
Types of Investments
The underlying American Funds will typically seek to generate income from their investments and will primarily consist of equity-income, fixed-income and balanced funds. The fund may also invest in growth-and-income funds. Through its investments in the underlying funds, the fund will have significant exposure to dividend-paying and growth-oriented common stocks and to fixed-income securities.

Fund Facts

Fund Inception 8/28/2015
Fund Assets (millions)
As of 10/31/2025
 $1,627.4
Companies/Issuers
Holdings are as of 10/31/2025 (updated monthly).
 2523+
Shareholder Accounts
Shareholder accounts are as of 10/31/2025
 8
Regular Dividends Paid
Mar, Jun, Sep, Dec
Minimum Initial Investment $0
Capital Gains Paid
Dec
Portfolio Turnover (2024) 15%
Fiscal Year-End Oct
Prospectus Date 01/01/2025
CUSIP 02631L 73 4
Fund Number 25110

Returns

Internal Prompt

Month-End Returns as of 11/30/25

Returns at NAV
| at MOP
Read important investment disclosures
RRRPX
S&P Target Date Retirement Income 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 3.21% 2.94%
Fund at MOP N/A N/A
As of 10/31/2025 (updated monthly)

Valuation

Price/ Price/ Price/
Book
Cash Flow
Earnings
Fund 2.86 11.74 16.73
S&P Target Date Retirement Income Index
2.70 11.90 18.20
Fund as of 9/30/25. Index as of 9/30/25.

Portfolio Solutions Committee

Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
Brittain Ezzes 1 3 27
Samir Mathur 5 12 32
Damien McCann 9 25
Wesley Phoa 9 26 32
John Queen 5 23 35
Andrew Suzman 9 31
Michelle Black 5 23 30
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(460)
3-yr. Morningstar RatingTM
(460 funds rated)
5-yr. Morningstar RatingTM
(440 funds rated)
10-yr. Morningstar RatingTM
(363 funds rated)
Overall Morningstar Risk Low
HIGH
LOW
Category
Moderate Allocation
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
(77)
(77)
(77)
(56)
Expense Within Category
Funds Rated
(36)
(36)
(36)
(30)
Preservation Within Category
Funds Rated
(4120)
(4120)
(3834)
(2682)
Tax Efficiency Within Category
Funds Rated
(77)
(77)
(77)
(56)
Total Return Within Category
Funds Rated
(77)
(77)
(77)
(56)
Category Ret Income Funds
KEY
HIGHEST LOWEST
As of 10/31/2025 (updated monthly)

Risk Measures

Fund
Standard Deviation
8.07
Sharpe Ratio
0.62
For the 10 Years ending 11/30/25 (updated monthly).
American Funds
Benchmark
Morningstar
Benchmark
S&P Target Date Retirement Income Index
Morningstar Mod Tgt Risk TR USD
R-squared
93 95
Beta
1.26 0.79
Capture Ratio (Downside/Upside)
129/132 78/84
American Funds Benchmark for the 10 Years ending 10/31/25 (updated monthly).
Morningstar Benchmark for the 10 Years ending 11/30/25 (updated monthly).
U.S. Treasuries/Agencies
9.3%
AAA/Aaa
2.4%
AA/Aa
11.1%
A
4.9%
BBB/Baa
5.9%
BB/Ba
4.3%
B
1.9%
CCC & Below
0.6%
Unrated
1.1%
Cash & equivalents
6.1%
% of net assets as of 10/31/2025 (updated monthly)

Average Life Breakdown

0-4.9 Years
23.1%
5-9.9 Years
13.1%
10-19.9 Years
2.1%
20-29.9 Years
3.0%
30+ Years
0.2%
% of net assets as of 9/30/2025 (updated monthly)

Holdings

Equities Breakdown

Sectors | Top Industries
Equity Fund Holdings
 Information technology 10.5%
Financials 9.2%
Industrials 6.1%
Health care 5.6%
Consumer staples 4.3%
Consumer discretionary 3.7%
Communication services 3.4%
Utilities 3.0%
Energy 2.8%
Materials 2.5%
Real estate 1.3%

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

Bonds Breakdown

Geographic Breakdown

Regions
United States
71.6%
Europe
11.3%
Asia & Pacific Basin
5.9%
Other (Including Canada & Latin America)
5.1%
Cash & equivalents
6.0%
% of net assets as of 10/31/2025 (updated monthly)

Prices & Distributions

Internal Prompt

Historical Prices Month-End

2025

Historical Prices Year-End

Internal Prompt

Historical Distributions as of 12/04/25

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
03/27/25 03/27/25 03/28/25 $0.0779 $0.00 $0.00 $0.00 $12.81
06/26/25 06/26/25 06/27/25 $0.1022 $0.00 $0.00 $0.00 $13.36
09/26/25 09/26/25 09/29/25 $0.0951 $0.00 $0.00 $0.00 $13.82
2025 Year-to-Date: Dividends Subtotal: $0.2752 Cap Gains Subtotal: $0.00
Total Distributions: $0.2752

Fees & Expenses

Internal Prompt

Fees

Annual Management Fees 0.00%
Other Expenses 0.07%
Acquired (Underlying) Fund Fees and Expenses 0.29%
Service 12b-1 --
As of each fund's most recent prospectus.
Internal Prompt

Expense Ratio

RRRPX 0.36%
Lipper Retirement Income Funds Average
--%
Fund as of most recent prospectus. Lipper Category as of -- (updated quarterly).