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
Balancing income and preservation. Limited-term bond strategy that seeks to reduce interest rate risk and diversify equity exposure by holding only investment-grade, dollar-denominated bonds in a portfolio with a dollar-weighted average effective maturity between three and five years.
Price at NAV $12.69 as of 1/16/2026 (updated daily)
Fund Assets (millions) $27,717.2
Portfolio Managers
7
Expense Ratio
(Gross/Net %)
1.34 / 1.31%
Prospectus
Internal Prompt

Returns at NAV

Returns with Sales Charge

Asset Mix

U.S. Equities0.0%
Non-U.S. Equities0.0%
U.S. Bonds89.4%
Non-U.S. Bonds3.1%
Cash & Equivalents
7.5%
As of 12/31/2025 (updated monthly)

Growth of 10K

Read important investment disclosures

High & Low Prices

Fund Statistics

3.6 years
Effective Duration
4.1%
Average Yield
to Worst
4%
Average Coupon
% of net assets as of 12/31/2025 (updated monthly)

Morningstar Style BoxTM— Fixed-Income

High Quality
Limited Interest-Rate Sensitivity
Morningstar data as of 9/30/25 (updated quarterly)

Description

Fund Objective
The fund's investment objective is to provide you with current income consistent with the maturity and quality standards described in this prospectus and preservation of capital.
Distinguishing Characteristics
Balancing income and preservation, this limited-term bond strategy seeks to reduce interest rate risk and diversify equity exposure by holding only investment-grade, dollar-denominated bonds in a portfolio with a dollar-weighted average effective maturity between three and five years.
Types of Investments
Primarily invests in corporate bonds, U.S. government bonds or notes, GNMA certificates and other mortgage-related securities, as well as cash.
Maturity
The fund's portfolio will have dollar-weighted average maturities of no less than three years and no greater than five years.
Portfolio Restrictions
The fund invests primarily in debt securities rated A or better and may invest up to 10% of its assets in debt securities rated BBB/Baa (or unrated, but determined by the fund’s investment adviser to be of equivalent quality).

Fund Facts

Fund Inception 2/19/1988
Fund Assets (millions)
As of 12/31/2025
 $27,717.2
Companies/Issuers
Holdings are as of 12/31/2025 (updated monthly).
 1019+
Shareholder Accounts
Shareholder accounts are as of 12/31/2025
 135
Regular Dividends Paid
Monthly
Minimum Initial Investment $0
Capital Gains Paid
Dec
Portfolio Turnover (2025) 236%
Fiscal Year-End Aug
Prospectus Date 11/01/2025
CUSIP 458809 87 8
Fund Number 2123

Returns

Internal Prompt

Month-End Returns as of 12/31/25

Returns at NAV
| With Sales Charge
Read important investment disclosures
RBOAX
IBFA Strategy Benchmark
ANNUAL RETURNS CHART

Quarter-End Returns as of 12/31/25

Internal Prompt

Volatility & Return

Read important investment disclosures

Fixed-Income

For Class R-1 Shares, this chart tracks the 10-year standard deviation
and 10-year annualized return of the fixed income funds
RBOAX
IBFA Strategy Benchmark
Other AF Funds
Standard Deviation as of 12/31/2025 (updated monthly) . Annualized return as of 12/31/2025 (updated monthly) .
VIEW LARGER CHART
Internal Prompt

Yield

12-month
Distribution Rates
30-day SEC Yield
Fund at NAV 3.21% 2.98%
Fund at MOP N/A N/A
As of 12/31/2025 (updated monthly)

Portfolio Management

Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
David Betanzos 6 23 27
Karen Choi 6 18 30
Oliver Edmonds 1 22 23
Vince Gonzales 6 14 18
Steven Lotwin 5 24
Fergus MacDonald 12 22 33
John Queen 5 24 36
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(533)
3-yr. Morningstar RatingTM
(533 funds rated)
5-yr. Morningstar RatingTM
(501 funds rated)
10-yr. Morningstar RatingTM
(385 funds rated)
Overall Morningstar Risk High
HIGH
LOW
Category
Short-Term Bond
ADVANTAGES AND DISADVANTAGES OF MORNINGSTAR RATINGS
Ratings are based on risk-adjusted returns as of 12/31/2025 (updated monthly).

Risk Measures

Fund
Standard Deviation
3.17
Sharpe Ratio
-0.31
For the 10 Years ending 12/31/25 (updated monthly).
American Funds
Benchmark
Morningstar
Benchmark
IBFA Strategy Benchmark
Bloomberg US Agg Bond TR USD
R-squared
87 87
Beta
0.58 0.58
Capture Ratio (Downside/Upside)
--/-- 56/57
American Funds Benchmark for the 10 Years ending 12/31/25 (updated monthly).
Morningstar Benchmark for the 10 Years ending 12/31/25 (updated monthly).
U.S. Treasuries/Agencies
30.0%
AAA/Aaa
19.6%
AA/Aa
24.5%
A
9.8%
BBB/Baa
6.4%
BB/Ba
0.0%
B
0.0%
Unrated
2.3%
Cash & equivalents
7.4%
% of net assets as of 12/31/2025 (updated monthly)

Average Life Breakdown

0-4.9 Years
69.1%
5-9.9 Years
20.3%
10-19.9 Years
1.4%
20-29.9 Years
1.7%
30+ Years
--
% of net assets as of 12/31/2025 (updated monthly)

Holdings

Bonds Breakdown

Bond Details

Total bond holdings
U.S. Treasury bonds & notes 29.9%
Asset-backed obligations 16.3%
Non-U.S. government/agency securities 0.9%
Revenue bonds 0.1%

% of net assets as of 12/31/2025 (updated quarterly)

Top Fixed-Income Issuers

U.S. Treasury
30.1%
Fannie Mae
9.5%
Federal Home Loan Mortgage
7.4%
UMBS
2.2%
Ginnie Mae II
1.0%
Ford Motor
0.7%
New Economy Assets - Phase 1 Sponsor
0.5%
JPMorgan Chase
0.4%
Philip Morris International
0.4%
Morgan Stanley
0.4%

% of net assets as of 12/31/2025 (updated monthly)

Prices & Distributions

Internal Prompt

Historical Prices Month-End

2025

Historical Prices Year-End

Internal Prompt

Historical Distributions as of 01/16/26

FIND HISTORICAL DISTRIBUTIONS
2025
Record
Date		 Calculated
Date		 Pay Date
Income Dividend Regular
Income Dividend Special
Cap. Gains Long-Term
Cap. Gains Short-Term
Reinvest NAV
Daily 01/31/25 02/03/25 $0.0339922 $0.00 $0.00 $0.00 $12.41
Daily 02/28/25 03/03/25 $0.0333796 $0.00 $0.00 $0.00 $12.56
Daily 03/31/25 04/01/25 $0.0350214 $0.00 $0.00 $0.00 $12.57
Daily 04/30/25 05/01/25 $0.0340279 $0.00 $0.00 $0.00 $12.66
Daily 05/30/25 06/02/25 $0.0348257 $0.00 $0.00 $0.00 $12.55
Daily 06/30/25 07/01/25 $0.034074 $0.00 $0.00 $0.00 $12.65
Daily 07/31/25 08/01/25 $0.0350738 $0.00 $0.00 $0.00 $12.56
Daily 08/29/25 09/02/25 $0.0339944 $0.00 $0.00 $0.00 $12.70
Daily 09/30/25 10/01/25 $0.0338018 $0.00 $0.00 $0.00 $12.70
Daily 10/31/25 11/03/25 $0.0340181 $0.00 $0.00 $0.00 $12.71
Daily 11/28/25 12/01/25 $0.0325858 $0.00 $0.00 $0.00 $12.74
Daily 12/31/25 01/02/26 $0.033876 $0.00 $0.00 $0.00 $12.72
2025 Year-to-Date: Dividends Subtotal: $0.4086707 Cap Gains Subtotal: $0.00
Total Distributions: $0.4086707

Fees & Expenses

Internal Prompt

Fees

Annual Management Fees 0.24%
Other Expenses 0.10%
Service 12b-1 1.00%
As of each fund's most recent prospectus.
Internal Prompt

Expense Ratio

Gross Net
RBOAX 1.34% 1.31%
Lipper Short-Intmdt Investment Grade Debt Funds Average
--%
Fund as of most recent prospectus. Lipper Category as of -- (updated quarterly).