Investment Fund

Share Class
Purchase Restrictions: Class F-2 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
A focus on income and conservation of capital. This portfolio is designed for retirees who desire a potentially lower level of downside risk in exchange for a potentially lower level of income and growth of capital.
Price at NAV $11.44 as of 5/24/2024 (updated daily)
Fund Assets (millions) $1,167.6
Portfolio Solutions Committee Members
7
Expense Ratio
(Gross/Net %)
0.39 / 0.39%

Asset Mix

U.S. Equities27.4%
Non-U.S. Equities11.5%
U.S. Bonds50.6%
Non-U.S. Bonds6.3%
Cash & Equivalents
4.2%
As of 4/30/2024 (updated monthly)

Fund Statistics

5.5 years
Effective Duration
5.7%
Average Yield
to Worst
4.1%
Average Coupon
% of net assets as of 4/30/2024 (updated monthly)

Market Capitalization

81.0%
Large
17.5%
Medium
1.5%
Small
$113,014.00 Million
Weighted Average


As of 3/31/2024 (updated quarterly). Morningstar data as of 3/31/2024 (updated quarterly).

Growth of 10K

Read important investment disclosures
For Class F-2 Shares, this chart tracks a hypothetical investment with dividends reinvested, over the last 20 years, or since inception date if the fund has been in existence under 20 years, through 12/31/2023.
FDFWX
S&P Target Date Retirement Income Index

High & Low Prices

Internal Prompt

Returns at NAV

Returns with Sales Charge

Description

Fund Objective
The fund strives for the accomplishment of three investment objectives: current income, long-term growth of capital and conservation of capital, with an emphasis on income and conservation of capital.
Distinguishing Characteristics
The fund will invest in a mix of American Funds in varying combinations and weightings over time. The Conservative Portfolio is designed to produce current income with somewhat less volatility than the other two portfolios in the American Funds Retirement Income Portfolio Series. This approach is likely to lead to less downside risk, but also currently offers investors a lower level of current income and long-term growth potential.
Types of Investments
The underlying American Funds will typically seek to generate income from their investments, as the Conservative Portfolio is weighted more toward fixed-income securities and will also consist of equity-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 fixed-income securities and to dividend-paying common stocks.

Fund Facts

Fund Inception 8/28/2015
Fund Assets (millions)
As of 4/30/2024
$1,167.6
Companies/Issuers
Holdings are as of 4/30/2024 (updated monthly).
2425+
Shareholder Accounts
Shareholder accounts are as of 4/30/2024
2,409
Regular Dividends Paid
Mar, Jun, Sep, Dec
Minimum Initial Investment $250
Capital Gains Paid
Dec
Portfolio Turnover (2023) 16%
Fiscal Year-End Oct
Prospectus Date 01/01/2024
CUSIP 02631L 50 2
Fund Number 36109

Returns

Internal Prompt

Month-End Returns as of 4/30/24

Quarter-End Returns as of 3/31/24

Internal Prompt

Volatility & Return

Read important investment disclosures

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

Internal Prompt

Yield

12-month
Distribution Rates
30-day SEC Yield
Fund at NAV 3.28% 3.32%
Fund at MOP N/A N/A
As of 4/30/2024 (updated monthly)

Valuation

Price/ Price/ Price/
Book Cash Flow Earnings
Fund 2.74 11.31 16.19
S&P Target Date Retirement Income Index
2.50 11.30 17.60
Fund as of 3/31/24. Index as of 3/31/24.

Portfolio Solutions Committee

Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
Alan N. Berro 9 33 38
Michelle J. Black 4 22 29
Brittain Ezzes 1 2 26
Samir Mathur 4 11 31
Wesley K. Phoa 9 25 30
John R. Queen 4 22 34
Andrew B. Suzman 9 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(440)
3-yr. Morningstar RatingTM
(440 funds rated)
5-yr. Morningstar RatingTM
(409 funds rated)
10-yr. Morningstar RatingTM
(-- funds rated)
--
Overall Morningstar Risk Low
HIGH
LOW
Category Moderately Conservative Allocation
Ratings are based on risk-adjusted returns as of 4/30/2024 (updated monthly).

Risk Measures

Fund
Standard Deviation
8.34
Sharpe Ratio
0.23
For the 5 Years ending 4/30/24 (updated monthly).
American Funds
Benchmark
Morningstar
Benchmark
S&P Target Date Retirement Income Index
Morningstar Mod Tgt Risk TR USD
R-squared 95 94
Beta 1.05 0.65
Capture Ratio (Downside/Upside) 109/109 64/66
American Funds Benchmark for the 5 Years ending 4/30/24 (updated monthly).
Morningstar Benchmark for the 5 Years ending 4/30/24 (updated monthly).
U.S. Treasuries/Agencies
13.5%
AAA/Aaa
19.9%
AA/Aa
2.2%
A
6.8%
BBB/Baa
6.8%
BB/Ba
4.0%
B
1.8%
CCC & Below
0.5%
Unrated
1.2%
Cash & equivalents
4.4%
% of net assets as of 4/30/2024 (updated monthly)

Average Life Breakdown

0-4.9 Years
23.5%
5-9.9 Years
25.5%
10-19.9 Years
3.4%
20-29.9 Years
3.6%
30+ Years
0.3%
% of net assets as of 3/31/2024 (updated monthly)

Holdings

Equities Breakdown

Equity Fund Holdings
Financials 6.3%
Information technology 5.8%
Health care 5.1%
Industrials 4.7%
Consumer staples 4.2%
Energy 3.1%
Utilities 2.6%
Consumer discretionary 2.2%
Communication services 1.9%
Materials 1.5%
Real estate 1.5%

% of net assets as of 4/30/2024 (updated monthly)

Bonds Breakdown

Geographic Breakdown

United States
78.1%
Europe
9.0%
Asia & Pacific Basin
3.4%
Other (Including Canada & Latin America)
5.3%
Cash & equivalents
4.2%
% of net assets as of 4/30/2024 (updated monthly)

Prices & Distributions

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Historical Prices Month-End

Historical Prices Year-End

Internal Prompt

Historical Distributions as of 05/24/24

2024
Record
Date
Calculated
Date
Pay Date
Income Dividend Regular
Income Dividend Special
Cap. Gains Long-Term
Cap. Gains Short-Term
Reinvest NAV
03/26/24 03/26/24 03/27/24 $0.0574 $0.00 $0.00 $0.00 $11.40
2024 Year-to-Date: Dividends Subtotal: $0.0574 Cap Gains Subtotal: $0.00
Total Distributions: $0.0574

Fees & Expenses

Internal Prompt

Fees

Annual Management Fees 0.00%
Other Expenses 0.12%
Acquired (Underlying) Fund Fees and Expenses 0.27%
Service 12b-1 --
As of each fund's most recent prospectus.
Internal Prompt

Expense Ratio

FDFWX 0.39%
Lipper Retirement Income Funds Average
0.57%
Fund as of most recent prospectus. Lipper Category as of 3/31/24 (updated quarterly).

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