Fund Details

Purchase Restrictions: Class F-3 shares are available through certain registered investment advisor and fee-based programs, but are not available for purchase in most employer-sponsored retirement plans. See the prospectus for details.

Summary

Internal Prompt

Quality, income and diversification. With a focus on high-quality mortgage-backed securities that are either guaranteed or sponsored by the U.S. government, this fund may provide a higher level of income than U.S. Treasuries as well as diversification during equity market downturns.

Price at NAV $9.53 as of 8/09/2022 (updated daily)

Fund Assets (millions) $8,620.7

Portfolio Managers

Expense Ratio

0.22%

Prospectus (PDF)

Internal Prompt

Returns at NAV
Returns with Sales Charge

Returns at NAV

Read important investment disclosures

-4.89%

1-year return

1.51%

5-year return

1.82%

10-year return

1.90%

30-Day SEC Yield

Returns as of 7/31/22 (updated monthly). Yield as of 6/30/22 (updated monthly).

Returns with Sales Charge

Asset Mix

	U.S. Equities0.0%		Non-U.S. Equities0.0%
	U.S. Bonds93.4%		Non-U.S. Bonds0.0%
	Cash & Equivalents 6.6%

	U.S. Equities0.0%
	Non-U.S. Equities0.0%
	U.S. Bonds93.4%
	Non-U.S. Bonds0.0%
	Cash & Equivalents 6.6%

As of 6/30/2022 (updated monthly)

Growth of 10K
High & Low Prices

Growth of 10K

Read important investment disclosures

For Class F-3 Shares, this chart tracks a hypothetical investment with dividends reinvested through 12/31/2021.

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AFFMX

Bloomberg U.S. Mortgage Backed Securities Index

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High & Low Prices

Fund Statistics

5.9 years

Effective Duration

4.2%

Average Yield
to Worst

Average Coupon

% of net assets as of 6/30/2022 (updated quarterly)

Morningstar Style Box^TM— Fixed-Income

High Quality

Moderate Interest-Rate Sensitivity

Morningstar data as } of 6/30/22 (updated quarterly)

Description

Fund Objective

The fund's investment objective is to provide current income and preservation of capital.

Distinguishing Characteristics

With a focus on high-quality mortgage-backed securities that are either guaranteed or sponsored by the U.S. government, this fund may provide a higher level of income than U.S. Treasuries as well as diversification during equity market downturns. This fund seeks to add value by actively managing sector allocation, security selection, duration and yield curve.

Types of Investments

Primarily mortgage-related securities guaranteed by the U.S. government, mortgage-related securities issued by government-sponsored entities but not backed by the full faith and credit of the U.S. government, and non-government mortgage-related securities rated AAA/Aaa or unrated but determined to be of equivalent quality by the fund's investment adviser. Up to 5% of assets may be invested in securities rated AA/Aa or A, or unrated but of equivalent quality.

Holdings Outside the U.S.

Up to 10% of assets may be invested in high-quality, U.S. dollar-denominated mortgage-related securities from issuers outside the U.S.

Maturity

Not required to maintain any particular maturity.

Portfolio Restrictions

Normally, at least 80% of the fund’s assets will be invested in mortgage-related securities.

Fund Facts

Fund Inception	11/01/2010
Fund Assets (millions) As of 6/30/2022	$8,620.7
Companies/Issuers Holdings are as of 6/30/2022 (updated quarterly).	93+
Shareholder Accounts Shareholder accounts are as of 6/30/2022	3,361
Regular Dividends Paid	Monthly

Minimum Initial Investment	$250
Capital Gains Paid	Dec
Portfolio Turnover (2021)	1015%
Fiscal Year-End	Aug
Prospectus Date	05/01/2022
CUSIP	02630V 77 4
Fund Number	742

Returns LEARN ABOUT THE SYSTEM BEHIND OUR RESULTS

Internal Prompt

Month-End Returns as of 7/31/22
Quarter-End Returns as of 6/30/22

ANNUAL RETURNS CHART

Month-End Returns as of 7/31/22

Returns at NAV

| With Sales Charge

Read important investment disclosures

AFFMX

Bloomberg U.S. Mortgage Backed Securities Index

ANNUAL RETURNS CHART

Quarter-End Returns as of 6/30/22

Internal Prompt

Volatility & Return

VIEW LARGER CHART

Read important investment disclosures

Fixed-Income

For Class F-3 Shares, this chart tracks the 10-year standard deviation

and 10-year annualized return of the fixed income funds

AFFMX

Bloomberg U.S. Mortgage Backed Securities Index

Other AF Funds

Standard Deviation as of 07/31/2022 (updated monthly) . Annualized return as of 07/31/2022 (updated monthly) .

VIEW LARGER CHART

Internal Prompt

Yield

	12-month
	Distribution Rates	30-day SEC Yield
Fund at NAV	1.11%	1.90%
Fund at MOP	N/A	N/A

As of 6/30/2022 (updated monthly)

Portfolio Management

Years of Experience with Fund

Years of Experience with Capital Group

Years of Experience with Investment Industry

David J. Betanzos 21 20 8

Oliver V. Edmonds 18 18 2

Fergus N. MacDonald 29 18 11

David J. Betanzos	8	20	21
Oliver V. Edmonds	2	18
Fergus N. MacDonald	11	18	29

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 Rating^TM Funds rated(226)
3-yr. Morningstar Rating^TM (226 funds rated)
5-yr. Morningstar Rating^TM (214 funds rated)
10-yr. Morningstar Rating^TM (178 funds rated)
Overall Morningstar Risk	Below Average HIGH LOW
Category	Intermediate Government

ADVANTAGES AND DISADVANTAGES OF MORNINGSTAR RATINGS

Ratings are based on risk-adjusted returns as of 7/31/2022 (updated monthly).

Risk Measures

		Fund
Standard Deviation		2.63
Sharpe Ratio		0.45
For the 10 Years ending 7/31/22 (updated monthly).
American Funds Benchmark		Morningstar Benchmark
Bloomberg U.S. Mortgage Backed Securities Index		Bloomberg US Agg Bond TR USD
R-squared	89	76
Beta	0.91	0.65
Capture Ratio (Downside/Upside)	82/99	52/70
American Funds Benchmark for the 10 Years ending 6/30/22 (updated quarterly). Morningstar Benchmark for the 10 Years ending 7/31/22 (updated monthly).

Quality Summary

Read important investment disclosures

U.S. Treasuries/Agencies

16.7%

AAA/Aaa

74.5%

AA/Aa

0.8%

Unrated

1.3%

Cash & equivalents

5.9%

% of net assets as of 6/30/2022 (updated quarterly)

Average Life Breakdown

0-4.9 Years

26.1%

5-9.9 Years

61.1%

10-19.9 Years

3.2%

20-29.9 Years

2.8%

30+ Years

% of net assets as of 3/31/2022 (updated quarterly)

Holdings

Bonds Breakdown

Total bond holdings

	Mortgage-backed obligations 74.6%
	U.S. Treasury bonds & notes 16.7%
	Asset-backed obligations 2.1%

% of net assets as of 6/30/2022 (updated quarterly)

UMBS

37.3%

Ginnie Mae II

17.4%

U.S. Treasury

16.7%

Federal Home Loan Mortgage

6.3%

Fannie Mae

6.1%

% of net assets as of 6/30/2022 (updated quarterly)

QUARTERLY HOLDINGS

Prices & Distributions

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Historical Prices Month-End
Historical Prices Year-End

FIND HISTORICAL PRICES

Historical Prices Month-End

2022

FIND HISTORICAL PRICES

Historical Prices Year-End

Internal Prompt

Historical Distributions
as of 08/09/22

Historical Distributions as of 08/09/22

2022

Record Date	Calculated Date	Pay Date	Income Dividend Regular	Income Dividend Special	Cap. Gains Long-Term	Cap. Gains Short-Term	Reinvest NAV
Daily	01/31/22	02/01/22	$0.0057238	$0.00	$0.00	$0.00	$10.07
Daily	02/28/22	03/01/22	$0.0050573	$0.00	$0.00	$0.00	$10.02
Daily	03/31/22	04/01/22	$0.0108444	$0.00	$0.00	$0.00	$9.76
Daily	04/29/22	05/02/22	$0.0138397	$0.00	$0.00	$0.00	$9.49
Daily	05/31/22	06/01/22	$0.0187796	$0.00	$0.00	$0.00	$9.55
Daily	06/30/22	07/01/22	$0.0136504	$0.00	$0.00	$0.00	$9.42
Daily	07/29/22	08/01/22	$0.0226963	$0.00	$0.00	$0.00	$9.63
		2022 Year-to-Date:	Dividends Subtotal: $0.09059144		Cap Gains Subtotal: $0.00
			Total Distributions: $0.09059144

Rate	As of Date
0.00093351	08/01/2022
0.00098006	08/02/2022
0.00092350	08/03/2022
0.00092399	08/04/2022
0.00206372	08/05/2022
0.00159287	08/08/2022
0.00102030	08/09/2022

FIND HISTORICAL DISTRIBUTIONS

CURRENT DAILY DIVIDENDS

Rate		As of-Date
0.00093351		08/01/2022
0.00098006		08/02/2022
0.00092350		08/03/2022
0.00092399		08/04/2022
0.00206372		08/05/2022
0.00159287		08/08/2022
0.00102030		08/09/2022

Fees & Expenses

Internal Prompt

Fees


Annual Management Fees	0.18%
Other Expenses	0.04%
Service 12b-1	--

As of each fund's most recent prospectus.

Internal Prompt

Expense Ratio

AFFMX	0.22%
Lipper Intermediate U.S. Government Funds Average	0.56%

Fund as of most recent prospectus. Lipper Category as of 6/30/22 (updated quarterly).

Resources

Prospectuses & Reports for AFFMX

Quarterly Fund Fact Sheet (PDF) 07/22
Fund Commentary (PDF) 05/22
Summary Prospectus (PDF) 11/21
Prospectus (PDF) 11/21
Statement of additional information (PDF) 11/21
Semi-Annual Report (PDF) 04/22
Annual Report (PDF) 10/21

About Our Funds

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