A disciplined growth fund to
complement index-based strategies


Better results

The value of a hypothetical investment in the fund since the Russell Growth Index began would have grown more than the S&P 500 and Russell 1000 Growth indexes as well as the Morningstar peer average. The fund beat its peers 86% of the time (208 out of 241 rolling monthly 10-year periods) over the past 30 years, ended December 31, 2022.

A long-term legacy of success

Bar chart shows the hypothetical value of $10,000 investments since December 31, 1978, when the Russell 1000 Growth Index began: AMCAP Fund, $1,752,231; S&P 500, $1,288,115; Russell 1000 Growth Index, $1,132,271; and Morningstar U.S. Fund Large Growth, $937,954.
Value of hypothetical $10,000 investments since the Russell 1000 Growth Index began on December 31, 1978, through December 31, 2022.

Moderate volatility

The fund’s combination of market cap flexibility and a focus on strong balance sheets have helped the fund produce a competitive risk profile.

Standard deviation*1 for 10 years ended December 31, 2022 (%)

Bar chart compares standard deviation: AMCAP Fund, 14.91; S&P 500, 14.77; Russell 1000 Growth Index, 16.30; and Morningstar U.S. Fund Large Growth, 16.76.

Low fees

AMCAP Fund’s expense ratio was significantly lower than the median for its peer group.†2

Expense ratio†2

Bar graph compares expense ratios: AMCAP Fund, 0.33%; Morningstar fee-level peer group median, 0.63%.

Morningstar Medalist RatingTM of Bronze



Data Coverage%


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*Source: Capital Group, based on data from Morningstar. Annualized standard deviation (based on monthly returns) is a common measure of absolute volatility that tells how returns over time have varied from the mean. A lower number signifies lower volatility.


The fund’s Class R-6 expense ratio is as of the most recent prospectus available at the time of publication. The peer group expense ratio median was calculated based on funds in the following Morningstar Fee Level Group — Distribution category: Large Cap Retirement, Large, as of December 31, 2022.

Source: Morningstar Managed Investment Report, Stephen Welch, as of May 24, 2023, based on Class R-6 shares. Analyst-Driven % is the weighted percentage of a vehicle's pillar ratings assigned directly or indirectly by analysts. Data Coverage % is a summary metric describing the level of data completeness used to generate the overall rating. As of May 2, 2023, the Morningstar Analyst Rating™ and the Morningstar Quantitative Rating™ were unified into a single rating, the Morningstar Medalist Rating™.


Unless otherwise indicated, data is as of December 31, 2022, and fund data is for Class R-6 shares.


S&P 500 Index is a market capitalization-weighted index based on the results of approximately 500 widely held common stocks.


Russell 1000 Growth Index is a market capitalization-weighted index that represents the large-cap growth segment of the U.S. equity market and includes stocks from the Russell 1000 Index that have higher price-to-book ratios and higher expected growth values.


These indexes are unmanaged, and their results include reinvested dividends and/or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes.

Fund peers are represented by the Morningstar U.S. Fund Large Growth category, which represents the averages of stocks in the top 70% of the capitalization of the U.S. equity market that are defined as large cap. Growth is based on fast growth (high growth rates for earnings, sales, book value and cash flow) and high valuations (high price ratios and low dividend yields). Most of these portfolios focus on companies in rapidly expanding industries.

Figures shown are past results and are not predictive of results in future periods. Current and future results may be lower or higher than those shown. Investing for short periods makes losses more likely. Prices and returns will vary, so investors may lose money. View mutual fund expense ratios and returns.

Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.

The Morningstar Medalist Rating™ is the summary expression of Morningstar's forward-looking analysis of investment strategies as offered via specific vehicles using a rating scale of Gold, Silver, Bronze, Neutral, and Negative. The Medalist Ratings indicate which investments Morningstar believes are likely to outperform a relevant index or peer group average on a risk-adjusted basis over time. Investment products are evaluated on three key pillars (People, Parent, and Process) which, when coupled with a fee assessment, forms the basis for Morningstar's conviction in those products' investment merits and determines the Medalist Rating they're assigned. Pillar ratings take the form of Low, Below Average, Average, Above Average, and High. Pillars may be evaluated via an analyst's qualitative assessment (either directly to a vehicle the analyst covers or indirectly when the pillar ratings of a covered vehicle are mapped to a related uncovered vehicle) or using algorithmic techniques. Vehicles are sorted by their expected performance into rating groups defined by their Morningstar Category and their active or passive status. When analysts directly cover a vehicle, they assign the three pillar ratings based on their qualitative assessment, subject to the oversight of the Analyst Rating Committee, and monitor and reevaluate them at least every 14 months. When the vehicles are covered either indirectly by analysts or by algorithm, the ratings are assigned monthly. For more detailed information about these ratings, including their methodology, please go to The Morningstar Medalist Ratings are not statements of fact, nor are they credit or risk ratings. The Morningstar Medalist Rating (i) should not be used as the sole basis in evaluating an investment product, (ii) involves unknown risks and uncertainties which may cause expectations not to occur or to differ significantly from what was expected, (iii) are not guaranteed to be based on complete or accurate assumptions or models when determined algorithmically, (iv) involve the risk that the return target will not be met due to such things as unforeseen changes in management, technology, economic development, interest rate development, operating and/or material costs, competitive pressure, supervisory law, exchange rate, tax rates, exchange rate changes, and/or changes in political and social conditions, and (v) should not be considered an offer or solicitation to buy or sell the investment product. A change in the fundamental factors underlying the Morningstar Medalist Rating can mean that the rating is subsequently no longer accurate.

Capital Group offers a range of share classes designed to meet the needs of retirement plan sponsors and participants. The different share classes incorporate varying levels of financial professional compensation and service provider payments. Because Class R-6 shares do not include any recordkeeping payments, expenses are lower and results are higher. Other share classes that include recordkeeping costs have higher expenses and lower results than Class R-6.

There may have been periods when the results lagged the index(es) and/or average(s). The indexes are unmanaged and, therefore, have no expenses. Investors cannot invest directly in an index.

FTSE/Russell indexes: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2024. FTSE Russell is a trading name of certain of the LSE Group companies. FTSE indexes are trademarks of the relevant LSE Group companies and are used by any other LSE Group company under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company's express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.

Each S&P Index ("Index") shown is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Capital Group. Copyright © 2024 S&P Dow Jones Indices LLC, a division of S&P Global, and/or its affiliates. All rights reserved. Redistribution or reproduction in whole or in part is prohibited without written permission of S&P Dow Jones Indices LLC.

All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.

Investment results assume all distributions are reinvested and reflect applicable fees and expenses.

When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower and net expenses higher. Please refer to for more information. Read details about how waivers and/or reimbursements affect the results for each fund. View results and yields without fee waiver and/or expense reimbursement.

Certain share classes were offered after the inception dates of some funds. Results for these shares prior to the dates of first sale are hypothetical based on the original share class results without a sales charge, adjusted for typical estimated expenses. 

  • Class R-6 shares were first offered on 5/1/2009.
Results for certain funds with an inception date after the share class inception also include hypothetical returns because those funds' shares sold after the funds' date of first offering. View dates of first sale and specific expense adjustment information.
  1. Calculated by Morningstar. Due to differing calculation methods, the figures shown here may differ from those calculated by Capital Group.
  2. Expense ratios are as of each fund's prospectus available at the time of publication.

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This content, developed by Capital Group, home of American Funds, should not be used as a primary basis for investment decisions and is not intended to serve as impartial investment or fiduciary advice.

© 2024 Morningstar, Inc. All Rights Reserved. Some of the information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar, its content providers nor Capital Group are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Information is calculated by Morningstar. Due to differing calculation methods, the figures shown here may differ from those calculated by Capital Group.