The Tax-Exempt Bond Fund of America - F-3 | American Funds

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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, 2 OR 754

Visit americanfunds.com/retire

IF YOUR PLAN ID BEGINS WITH 34 OR 135

Visit myretirement.americanfunds.com

TAX-EXEMPT BOND FUNDS

®

Purchase Restrictions: Tax-exempt funds should generally not serve as investments for tax-deferred retirement plans and accounts. 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

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A quality-oriented approach to core tax-exempt income. With a focus on investment-grade securities, this is also our most diversified municipal offering, with the flexibility to own higher income securities across the ratings spectrum. It does not invest in bonds subject to the alternative minimum tax.
Price at NAV $12.43 as of 8/12/2022 (updated daily)
Fund Assets (millions) $25,150.4
Portfolio Managers
3
Expense Ratio
0.22%

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Returns at NAV

Returns with Sales Charge

Asset Mix

U.S. Equities0.0%
Non-U.S. Equities0.0%
U.S. Bonds88.6%
Non-U.S. Bonds0.0%
Cash & Equivalents
11.4%
U.S. Equities0.0%
Non-U.S. Equities0.0%
U.S. Bonds88.6%
Non-U.S. Bonds0.0%
Cash & Equivalents
11.4%
As of 7/31/2022 (updated monthly)

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.
TFEBX
Bloomberg Municipal Bond Index

High & Low Prices

Fund Statistics

7.1 years
Effective Duration
3.6%
Average Yield
to Maturity
3.9%
Average Coupon
% of net assets as of 6/30/2022 (updated quarterly)

Morningstar Style BoxTM— Fixed-Income

Medium Quality
Extensive Interest-Rate Sensitivity
Morningstar data as } of 6/30/22 (updated quarterly)

Description

Fund Objective
The fund's investment objective is to provide you with a high level of current income exempt from federal income tax, consistent with the preservation of capital.
Distinguishing Characteristics
This strategy takes a quality-oriented approach to tax-exempt investing, with a focus on investment-grade securities. It is also our most diversified municipal offering with the flexibility to own higher income securities across the ratings spectrum. The strategy does not invest in bonds subject to the alternative minimum tax.
Types of Investments
Primarily invests in state, municipal and public authority bonds and notes. The fund will normally invest at least 80% of its assets in, or derive at least 80% of its income from, tax-exempt securities, and invest at least 65% of its assets in tax-exempt securities rated in the three highest categories.
Maturity
Typically, the fund will be invested substantially in securities with maturities in excess of three years.
Portfolio Restrictions
May invest up to 10% of its assets in debt securities rated BB+ or below and Ba1 or below (or unrated, but determined by the fund’s investment adviser to be of equivalent quality). Will not invest in securities subject to the alternative minimum tax.

Fund Facts

Fund Inception 10/03/1979
Fund Assets (millions)
As of 7/31/2022
$25,150.4
Companies/Issuers
Holdings are as of 6/30/2022 (updated quarterly).
1478+
Shareholder Accounts
Shareholder accounts are as of 7/31/2022
162,338
Regular Dividends Paid
Monthly
Minimum Initial Investment $250
Capital Gains Paid
Dec
Portfolio Turnover (2021) 21%
Fiscal Year-End Jul
Prospectus Date 10/01/2021
CUSIP 876902 80 0
Fund Number 719

Returns

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Month-End Returns as of 7/31/22

Quarter-End Returns as of 6/30/22

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Volatility & Return

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
TFEBX
Bloomberg Municipal Bond 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
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Yield

12-month
Distribution Rates
30-day SEC Yield
Fund at NAV 2.38% 2.80%
Fund at MOP N/A N/A
As of 7/31/2022 (updated monthly)

Portfolio Management

Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
Chad M. Rach 5 17 28
Courtney K. Wolf 3 16
Karl J. Zeile 18 22 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(277)
3-yr. Morningstar RatingTM
(277 funds rated)
5-yr. Morningstar RatingTM
(238 funds rated)
10-yr. Morningstar RatingTM
(176 funds rated)
Overall Morningstar Risk Average
HIGH
LOW
Category Muni National Interm
Ratings are based on risk-adjusted returns as of 7/31/2022 (updated monthly).

Risk Measures

Fund
Standard Deviation
4.03
Sharpe Ratio
0.50
For the 10 Years ending 7/31/22 (updated monthly).
American Funds/
Morningstar Benchmark
Bloomberg Municipal TR USD
R-squared 98
Beta 0.99
Capture Ratio (Downside/Upside) 97/100
American Funds and Morningstar Benchmark for the 10 Years ending 7/31/22 (updated monthly).
AAA/Aaa
9.6%
AA/Aa
40.9%
A
26.1%
BBB/Baa
6.4%
BB/Ba
2.2%
B
0.1%
CCC & Below
0.0%
Unrated
3.7%
Cash & equivalents
11.0%
% of net assets as of 6/30/2022 (updated quarterly)

Average Life Breakdown

0-4.9 Years
41.2%
5-9.9 Years
41.5%
10-19.9 Years
7.2%
20-29.9 Years
1.6%
30+ Years
0.5%
% of net assets as of 3/31/2022 (updated quarterly)

Holdings

Bonds Breakdown

Bond Details

Total bond holdings
General obligation bonds 4.5%

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

Top Fixed-Income Issuers

New York State Personal Income Tax Bonds
2.2%
New York City Transitional Finance Authority
1.8%
Metropolitan Transportation Authority
1.6%
NEW YORK N Y
1.4%
Chicago Board of Education
1.2%
Santee Cooper
1.2%
New York City Municipal Water Finance Authorit ...
1.0%
Pennsylvania Turnpike Commission
1.0%
New Jersey Transportation Trust Fund Authority
0.8%
The Illinois State Toll Highway Authority
0.7%

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

Geographic Breakdown

New York
12.6%
Illinois
10.7%
Texas
8.8%
California
6.0%
Florida
5.6%
Pennsylvania
4.8%
Michigan
2.7%
Ohio
2.2%
Georgia
2.1%
Virginia
2.0%
% of net assets as of 6/30/2022

Prices & Distributions

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Historical Prices Month-End

Historical Prices Year-End

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Historical Distributions as of 08/12/22

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 $0.024785 $0.00 $0.00 $0.00 $13.20
Daily 02/28/22 03/01/22 $0.0223426 $0.00 $0.00 $0.00 $13.12
Daily 03/31/22 04/01/22 $0.0254724 $0.00 $0.00 $0.00 $12.72
Daily 04/29/22 05/02/22 $0.0253485 $0.00 $0.00 $0.00 $12.33
Daily 05/31/22 06/01/22 $0.0263408 $0.00 $0.00 $0.00 $12.46
Daily 06/30/22 07/01/22 $0.0251466 $0.00 $0.00 $0.00 $12.17
Daily 07/29/22 08/01/22 $0.0261194 $0.00 $0.00 $0.00 $12.46
2022 Year-to-Date: Dividends Subtotal: $0.17555527 Cap Gains Subtotal: $0.00
Total Distributions: $0.17555527

Fees & Expenses

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Fees

Annual Management Fees 0.18%
Other Expenses 0.04%
Service 12b-1 --
As of each fund's most recent prospectus.
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Expense Ratio

TFEBX 0.22%
Lipper General & Insured Municipal Debt Funds Average
0.44%
Fund as of most recent prospectus. Lipper Category as of 6/30/22 (updated quarterly).

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