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Investments / Capital Group Active-Passive Tax-Aware Conservative Income Model
 

Capital Group Active-Passive Tax-Aware Conservative Income Model

Capital Group Active-Passive Tax-Aware Conservative Income Model Composite
Summary
 

Capital Group Active-Passive Tax-Aware Conservative Income Model

Capital Group Active-Passive Tax-Aware Conservative Income Model Composite

Summary

Seeks current income, a portion of which is exempt from regular federal income tax, and relatively low-volatility equity exposures through dividend-paying equities and tax-exempt, fixed-income securities which may help provide downside resilience.

  • Portfolio Solutions Committee Members 7
  • WAERMP_WAERG
    Weighted Average Expense Ratio (%) —

Underlying Funds

Growth and income
14%
Capital Group Conservative Equity ETF5%
Capital Group Dividend Growers ETF3%
Capital Group Dividend Value ETF6%
Tax-exempt
60%
Capital Group Municipal High-Income ETF13%
Capital Group Municipal Income ETF22%
Capital Group Short Duration Municipal Income ETF25%
Passive ETFs
26%
iShares National Muni Bond ETF4%
iShares Short-Term National Muni Bond ETF7%
Schwab U.S. Dividend Equity ETF™3%
State Street® SPDR® Nuveen ICE Short Term Municipal Bond ETF3%
Vanguard Tax-Exempt Bond ETF5%
Vanguard Total World Stock ETF4%
As of 12/09/2025 (updated daily).
MODEL HISTORICAL ALLOCATIONS
assetMix, UNDFUNDHAFMP

Asset Mix

U.S. Equities
17.1%
Non-U.S. Equities
3.9%
U.S. Bonds
75.4%
Non-U.S. Bonds
0.0%
assetMixCE
Cash Equivalents 1
3.6%
As of 12/31/2025 (updated monthly)

Market Capitalization

$199,138.87 Mil
Average
mktCapitalizationAvg
75.3%
Large
20.0%
Medium
3.2%
Small
As of 12/31/2025 (updated quarterly).

Description

Objective
Seeks current income and preservation of capital primarily through a diversified portfolio of higher-quality, tax-exempt, fixed-income securities and dividend- paying equities utilizing both active and passive investments.
Distinguishing Characteristics
Pursues its investment objectives by investing in a mix of American Funds, Capital Group ETFs, and passive third-party ETFs in different combinations and weightings.
Types of Investments
The underlying funds may represent a variety of fund categories such as tax-exempt bond funds and growth-and-income funds as well as passive third-party ETFs.

Facts

ID
Model Composite Inception
10/31/2023
Companies/Issuers
12205
Holdings are as of 12/31/2025 (updated monthly).
Active/Passive
74% / 26%
RSG_YTD, RSG_1YR, RSGA_3YR, RSGA_5YR, RSGA_10YR, RSGA_LT, RSNF_YTD, RSNF_1YR, RSNFA_3YR, RSNFA_5YR, RSNFA_10YR, RSNFA_LT

Returns

Valuation

Price/ Book tooltip: PBRAT definition not found. Price/ Cash Flow tooltip: PCRAT definition not found. Price/ Earnings tooltip: PERAT definition not found.
Model
3.213.318.4
Tax-Aware Conservative Income Model Portfolio Index Blend tooltip: 1804 definition not found.
5.519.3—
Model as of 12/31/2025. Index as of 12/31/2025.

Portfolio Solutions Committee

  • Years of Experience with Capital Group
  • Years of Experience with Investment Industry
Michelle Black
24
31
Brittain Ezzes
4
28
Samir Mathur
13
33
Damien McCann
26
Wesley Phoa
27
33
John Queen
24
36
Andrew Suzman
32

A boldface number indicates that years of experience with Capital Group is equal to years of experience with investment industry.

Portfolio managers as of 02/02/2026. Portfolio managers' years of experience are as of the previous calendar year end.

Risk

Maturity Breakdown

Read important investment disclosures

0-4.9 Years
23.8%
5-9.9 Years
11.7%
10-19.9 Years
14.4%
20-29.9 Years
12.8%
30+ Years
2.2%
% of net assets as of 12/31/2025 (updated quarterly)

qualitySummary
Quality Summary

Read important investment disclosures

AAA/Aaa
17.7%
AA/Aa
48.7%
A
18.5%
BBB/Baa
3.7%
BB/Ba
2.4%
B
0.1%
CCC & Below
0.0%
Unrated
9.0%
% of net assets as of 12/31/2025 (updated monthly)
TTLHLD

Holdings

Total Bond Holdings

Municipal securities
100.0%
Mortgage-backed obligations
0.0%
Corporate bonds & notes
0.0%
Asset-backed obligations
0.0%
Non-U.S. government/agency securities
0.0%
Other bonds & notes
0.0%
U.S. government & government agency bonds & notes
0.0%
% of net assets as of 12/31/2025 (updated quarterly).

Go to the underlying fund pages to see detailed holdings information

Geographic Breakdown

Regions
|
Top Countries
 
United States
92.5%
ALLCTRY_CECTRY
Cash & equivalents
3.6%
Europe
1.9%
Asia & Pacific Basin
1.4%
Other (Including Canada & Latin America)
0.6%
% of net assets as of 12/31/2025 (updated monthly)

Expenses

Weighted Average Expense Ratio

WAERMP_WAERG
Capital Group Active-Passive Tax-Aware Conservative Income Model
—
WAERLC_AER
Lipper Category Weighted Average
0.20
Model as of the underlying funds' most recent prospectuses. Lipper Category as of 12/31/2025 (updated quarterly). The Lipper averages for the underlying funds are CGCV, CGDG, CGDV, CGHM, CGMU, CGSM, MUB, SUB, SCHD, SHM, VTEB and VT.

Resources

Literature for Capital Group Active-Passive Tax-Aware Conservative Income Model
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1
Includes cash, short-term securities, other assets less liabilities, accruals, derivatives and forwards. It may also include investments in money market or similar funds managed by the investment adviser or its affiliates that are not offered to the public.
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