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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

Back to select a different role

Investment Fund

®

Share Class
Purchase Restrictions: Class R-2 shares are available in certain employer-sponsored retirement plans. See the prospectus for details.

Summary

Internal Prompt
A quality foundation. Invests primarily in securities guaranteed or sponsored by the U.S. government and manages allocations between government and mortgage securities. Seeks to outpace the Treasury and mortgage-backed securities markets while maintaining low correlation to equities and minimal credit risk.
Price at NAV $12.17 as of 6/06/2023 (updated daily)
Fund Assets (millions) $19,867.2
Portfolio Managers
3
Expense Ratio
1.32%
Prospectus (PDF)

Internal Prompt

Returns at NAV

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%
As of 4/30/2023 (updated monthly)

Growth of 10K

Read important investment disclosures

High & Low Prices

Fund Statistics

6.1 years
Effective Duration
4.4%
Average Yield
to Worst
3.1%
Average Coupon
% of net assets as of 3/31/2023 (updated quarterly)

Morningstar Style BoxTM— Fixed-Income

High Quality
Moderate Interest-Rate Sensitivity
Morningstar data as of 3/31/23 (updated quarterly)

Description

Fund Objective
The fund's investment objective is to provide a high level of current income consistent with prudent investment risk and preservation of capital.
Distinguishing Characteristics
Invests primarily in securities guaranteed or sponsored by the U.S. government and mortgage-backed securities.
Types of Investments
Primarily invests in direct obligations of the U.S. Treasury and securities issued by U.S. government agencies, and cash and equivalents.
Maturity
Not required to maintain any particular maturity.
Portfolio Restrictions
At least 80% of the fund's assets will be invested in securities that are guaranteed or sponsored by the U.S. government.

Fund Facts

Fund Inception 10/17/1985
Fund Assets (millions)
As of 4/30/2023
 $19,867.2
Companies/Issuers
Holdings are as of 3/31/2023 (updated quarterly).
 43+
Shareholder Accounts
Shareholder accounts are as of 4/30/2023
 5,803
Regular Dividends Paid
Monthly
Minimum Initial Investment $0
Capital Gains Paid
Dec
Portfolio Turnover (2022) 488%
Fiscal Year-End Aug
Prospectus Date 11/01/2022
CUSIP 026300 86 3
Fund Number 2222

Returns

Internal Prompt

Month-End Returns as of 5/31/23

Returns at NAV
| With Sales Charge
Read important investment disclosures
RGVBX
Bloomberg U.S. Government/Mortgage-Backed Securities Index
ANNUAL RETURNS CHART

Quarter-End Returns as of 3/31/23

Internal Prompt

Volatility & Return

Read important investment disclosures

Fixed-Income

For Class R-2 Shares, this chart tracks the 10-year standard deviation
and 10-year annualized return of the fixed income funds
RGVBX
Bloomberg U.S. Government/Mortgage-Backed Securities Index
Other AF Funds
Standard Deviation as of 05/31/2023 (updated monthly) . Annualized return as of 05/31/2023 (updated monthly) .
VIEW LARGER CHART
Internal Prompt

Yield

12-month
Distribution Rates
30-day SEC Yield
Fund at NAV 2.11% 2.73%
Fund at MOP N/A N/A
As of 4/30/2023 (updated monthly)

Portfolio Management

Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
David J. Betanzos 8 21 22
Fergus N. MacDonald 13 19 30
Ritchie Tuazon 8 12 22
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(223)
3-yr. Morningstar RatingTM
(223 funds rated)
5-yr. Morningstar RatingTM
(214 funds rated)
10-yr. Morningstar RatingTM
(175 funds rated)
Overall Morningstar Risk Above Average
HIGH
LOW
Category
Intermediate Government
ADVANTAGES AND DISADVANTAGES OF MORNINGSTAR RATINGS
Ratings are based on risk-adjusted returns as of 5/31/2023 (updated monthly).

Risk Measures

Fund
Standard Deviation
4.12
Sharpe Ratio
-0.16
For the 10 Years ending 5/31/23 (updated monthly).
American Funds
Benchmark
Morningstar
Benchmark
Bloomberg U.S. Government/Mortgage-Backed Securities Index
Bloomberg US Agg Bond TR USD
R-squared
94 82
Beta
0.99 0.87
Capture Ratio (Downside/Upside)
105/92 88/73
American Funds Benchmark for the 10 Years ending 3/31/23 (updated quarterly).
Morningstar Benchmark for the 10 Years ending 5/31/23 (updated monthly).
U.S. Treasuries/Agencies
51.1%
AAA/Aaa
38.0%
AA/Aa
0.1%
Unrated
0.0%
Cash & equivalents
10.4%
% of net assets as of 3/31/2023 (updated quarterly)

Average Life Breakdown

0-4.9 Years
48.0%
5-9.9 Years
31.9%
10-19.9 Years
3.6%
20-29.9 Years
5.6%
30+ Years
--
% of net assets as of 3/31/2023 (updated quarterly)

Holdings

Bonds Breakdown

Bond Details

Total bond holdings
 U.S. Treasury bonds & notes 49.1%
Mortgage-backed obligations 38.1%
Federal agency bonds & notes 1.9%

% of net assets as of 3/31/2023 (updated quarterly)

Top Fixed-Income Issuers

U.S. Treasury
49.2%
UMBS
20.4%
Fannie Mae
7.8%
Federal Home Loan Mortgage
5.4%
Ginnie Mae II
3.2%

% of net assets as of 3/31/2023 (updated quarterly)

Prices & Distributions

Internal Prompt

Historical Prices Month-End

2023

Historical Prices Year-End

Internal Prompt

Historical Distributions as of 06/06/23

FIND HISTORICAL DISTRIBUTIONS
2023
Record
Date		 Calculated
Date		 Pay Date
Income Dividend Regular
Income Dividend Special
Cap. Gains Long-Term
Cap. Gains Short-Term
Reinvest NAV
Daily 01/31/23 02/01/23 $0.010709 $0.00 $0.00 $0.00 $12.45
Daily 02/28/23 03/01/23 $0.0074962 $0.00 $0.00 $0.00 $12.14
Daily 03/31/23 04/03/23 $0.0364045 $0.00 $0.00 $0.00 $12.44
Daily 04/28/23 05/01/23 $0.0279445 $0.00 $0.00 $0.00 $12.44
Daily 05/31/23 06/01/23 $0.0288127 $0.00 $0.00 $0.00 $12.22
2023 Year-to-Date: Dividends Subtotal: $0.1113669 Cap Gains Subtotal: $0.00
Total Distributions: $0.1113669

Fees & Expenses

Internal Prompt

Fees

Annual Management Fees 0.20%
Other Expenses 0.37%
Service 12b-1 0.75%
As of each fund's most recent prospectus.
Internal Prompt

Expense Ratio

RGVBX 1.32%
Lipper General U.S. Government Funds Average
--%
Fund as of most recent prospectus. Lipper Category as of -- (updated quarterly).

Resources

Prospectuses & Reports for RGVBX