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RETIREMENT PLAN INVESTOR

Use your plan ID (available on your account statement) to determine which employer-sponsored retirement plan website to use:

IF YOUR PLAN ID BEGINS WITH IRK, BRK, 1 OR 2

Visit americanfunds.com/retire

IF YOUR PLAN ID BEGINS WITH 34 OR 135

Visit myretirement.americanfunds.com

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Investment Fund

®

Share Class
Purchase Restrictions: Class R-1 shares are available in certain employer-sponsored retirement plans. See the prospectus for details.

Summary

Internal Prompt
Price at NAV $12.67 as of 11/29/2023 (updated daily)
Fund Assets (millions) $14,975.1
Target Date Solutions Committee Members
6
Expense Ratio
(Gross/Net %)
1.40 / 1.40%

Asset Mix

U.S. Equities33.0%
Non-U.S. Equities11.2%
U.S. Bonds46.4%
Non-U.S. Bonds5.4%
Cash & Equivalents
4.1%
As of 10/31/2023 (updated monthly)

Fund Statistics

5.3 years
Effective Duration
6.1%
Average Yield
to Worst
3.8%
Average Coupon
% of net assets as of 10/31/2023 (updated monthly)

Market Capitalization

82.4%
Large
16.6%
Medium
1.0%
Small
$106,168.51 Million
Weighted Average


As of 9/30/2023 (updated quarterly). Morningstar data as of 9/30/2023 (updated quarterly).

Growth of 10K

High & Low Prices

Internal Prompt

Returns at NAV

Returns with Sales Charge

Description

Fund Objective
Depending on the proximity to its target date, which we define as the year that corresponds roughly to the year in which the investor expects to retire, the fund will seek to achieve the following objectives to varying degrees: growth, income and conservation of capital. The fund will increasingly emphasize income and conservation of capital by investing a greater portion of its assets in fixed income, equity-income and balanced funds as it continues past its target date. In this way, the fund seeks to balance total return and stability over time.

Fund Facts

Fund Inception 2/01/2007
Fund Assets (millions)
As of 10/31/2023
$14,975.1
Companies/Issuers
Holdings are as of 10/31/2023 (updated monthly).
2688+
Shareholder Accounts
Shareholder accounts are as of 10/31/2023
244
Regular Dividends Paid
Dec
Minimum Initial Investment $0
Capital Gains Paid
Dec
Portfolio Turnover (2022) 15%
Fiscal Year-End Oct
Prospectus Date 01/01/2023
CUSIP 02630T 83 7
Fund Number 2163

Returns

Internal Prompt

Month-End Returns as of 10/31/23

Quarter-End Returns as of 9/30/23

Internal Prompt

Volatility & Return

Read important investment disclosures

Equities

For Class R-1 Shares, this chart tracks the 10-year standard deviation
and 10-year annualized return of the equity funds
RACTX
S&P Target Date 2020 Index
Other AF Funds
Standard Deviation as of 10/31/2023 (updated monthly) . Annualized return as of 10/31/2023 (updated monthly) .
VIEW LARGER CHART
Internal Prompt

Yield

12-month
Distribution Rates
30-day SEC Yield
Fund at NAV 1.53% 2.52%
Fund at MOP N/A N/A
As of 10/31/2023 (updated monthly)

Valuation

Price/ Price/ Price/
Book Cash Flow Earnings
Fund 2.73 10.28 14.70
S&P Target Date 2020 Index
-- -- --
Fund as of 9/30/23. Index as of --.

Target Date Solutions Committee

Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
Michelle J. Black 3 21 28
David A. Hoag 3 31 35
Samir Mathur 3 10 30
Wesley K. Phoa 11 24 29
Jessica C. Spaly 1 19 26
Shannon Ward 2 6 31
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(135)
3-yr. Morningstar RatingTM
(135 funds rated)
5-yr. Morningstar RatingTM
(130 funds rated)
10-yr. Morningstar RatingTM
(62 funds rated)
Overall Morningstar Risk Low
HIGH
LOW
Category Target-Date 2020
Ratings are based on risk-adjusted returns as of 10/31/2023 (updated monthly).

Risk Measures

Fund
Standard Deviation
7.69
Sharpe Ratio
0.37
For the 10 Years ending 10/31/23 (updated monthly).
American Funds
Benchmark
Morningstar
Benchmark
S&P Target Date 2020 Index
Morningstar Mod Tgt Risk TR USD
R-squared 97 97
Beta 0.95 0.79
Capture Ratio (Downside/Upside) 99/95 81/81
American Funds Benchmark for the 10 Years ending 9/30/23 (updated quarterly).
Morningstar Benchmark for the 10 Years ending 10/31/23 (updated monthly).
U.S. Treasuries/Agencies
14.1%
AAA/Aaa
19.7%
AA/Aa
2.1%
A
4.1%
BBB/Baa
5.3%
BB/Ba
3.5%
B
1.6%
CCC & Below
0.5%
Unrated
0.8%
Cash & equivalents
4.0%
% of net assets as of 10/31/2023 (updated monthly)

Average Life Breakdown

0-4.9 Years
19.7%
5-9.9 Years
24.3%
10-19.9 Years
4.4%
20-29.9 Years
3.2%
30+ Years
0.1%
% of net assets as of 9/30/2023 (updated quarterly)

Holdings

Equities Breakdown

Equity Fund Holdings
Information technology 7.6%
Health care 7.0%
Financials 5.9%
Industrials 5.5%
Consumer staples 4.3%
Consumer discretionary 3.2%
Energy 3.1%
Communication services 2.6%
Utilities 1.9%
Materials 1.8%
Real estate 1.3%

% of net assets as of 10/31/2023 (updated monthly)

Geographic Breakdown

United States
79.3%
Europe
8.5%
Asia & Pacific Basin
3.8%
Other (Including Canada & Latin America)
4.3%
Cash & equivalents
4.1%
% of net assets as of 10/31/2023 (updated monthly)

Prices & Distributions

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Historical Prices Month-End

Historical Prices Year-End

Internal Prompt

Historical Distributions as of 01/26/23

2022
Record
Date
Calculated
Date
Pay Date
Income Dividend Regular
Income Dividend Special
Cap. Gains Long-Term
Cap. Gains Short-Term
Reinvest NAV
12/23/22 12/23/22 12/27/22 $0.1869 $0.00 $0.176 $0.00 $12.11
2022 Year-to-Date: Dividends Subtotal: $0.1869 Cap Gains Subtotal: $0.176
Total Distributions: $0.3629

Fees & Expenses

Internal Prompt

Fees

Annual Management Fees 0.00%
Other Expenses 0.11%
Acquired (Underlying) Fund Fees and Expenses 0.29%
Service 12b-1 1.00%
As of each fund's most recent prospectus.
Internal Prompt

Expense Ratio

RACTX 1.40%
Lipper Mixed-Asset Target 2020 Funds Average
--%
Fund as of most recent prospectus. Lipper Category as of -- (updated quarterly).

Resources

Prospectuses & Reports for RACTX