American High-Income Trust - A | 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

Total Return Fixed Income

®

Vehicle: Mutual Fund Share Class

Overview

Internal Prompt
A well-researched approach to high-yield investing. Invests in a diversified portfolio of lower rated, higher yielding bonds with a focus on income and the potential for capital appreciation. The high-yield investment team benefits from the extensive research capabilities of Capital’s equity and macroeconomic analysts.
Price at NAV $9.54 as of 8/18/2022 (updated daily)
Fund Assets (millions) $17,512.1
Portfolio Managers
4
Expense Ratio
0.69%

Internal Prompt

Returns at NAV

Returns at MOP

Read important investment disclosures
-9.51%
1-year return
2.74%
5-year return
3.98%
10-year return
6.60%
30-Day SEC Yield
Returns as of 7/31/22 (updated monthly). Yield as of 7/31/22 (updated monthly).

Asset Mix

U.S. Equities3.7%
Non-U.S. Equities0.1%
U.S. Bonds76.1%
Non-U.S. Bonds14.3%
Cash & Equivalents
5.8%
U.S. Equities3.7%
Non-U.S. Equities0.1%
U.S. Bonds76.1%
Non-U.S. Bonds14.3%
Cash & Equivalents
5.8%
As of 7/31/2022 (updated monthly)
Internal Prompt

Volatility & Return

Read important investment disclosures

Fixed-Income

For Class A Shares, this chart tracks the 10-year standard deviation
and 10-year annualized return of the fixed income funds
AHITX
Bloomberg U.S. Corporate High Yield 2% Issuer Capped 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

Fund Statistics

4 years
Effective Duration
8.1%
Average Yield
to Worst
5.2%
Average Coupon
% of net assets as of 6/30/2022 (updated quarterly)

Morningstar Style BoxTM— Fixed-Income

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

Description

Objective
The fund's primary investment objective is to provide you with a high level of current income. Its secondary investment objective is capital appreciation.
Distinguishing Characteristics
The strategy invests in a diversified portfolio of lower rated, higher yielding bonds with a focus on income and the potential for capital appreciation. A dedicated team of analysts, traders and portfolio managers collaborate to achieve a comprehensive understanding of a company’s financial position and capital structure via fundamental bottom-up analysis. The high-yield investment team benefits from the extensive research capabilities across Capital’s equity and macroeconomic analysts.
Types of Investments
At least 65% of the portfolio will be invested in high-yield, lower rated bonds (BB+/Ba1 or below at the time of purchase) and other similar securities, including preferred stocks. Up to 25% of assets may be invested in common stocks or equity-related securities.
Holdings Outside the U.S.
Up to 25% of assets may be invested in securities of issuers outside the U.S., which may be denominated in currencies other than the U.S. dollar.
Maturity
Typically, the fund will be invested in intermediate- to long-term securities.

Fund Facts

Fund Inception 2/19/1988
Fund Assets (millions)
As of 7/31/2022
$17,512.1
Companies/Issuers
Holdings are as of 6/30/2022 (updated quarterly).
475+
Shareholder Accounts
Shareholder accounts are as of 7/31/2022
663,677
Regular Dividends Paid
Monthly
Minimum Initial Investment $250
Capital Gains Paid
Dec
Portfolio Turnover (2021) 66%
Fiscal Year-End Sep
Prospectus Date 12/01/2021
CUSIP 026547 10 9
Fund Number 21

Returns

Internal Prompt

Month-End Returns as of 7/31/22

AHITX
Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index

Quarter-End Returns as of 6/30/22

Growth of 10K

Read important investment disclosures
For Class A Shares, this chart tracks a hypothetical investment with dividends reinvested through 12/31/2021.
AHITX
Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index

High & Low Prices

Internal Prompt

Yield

12-month
Distribution Rates
30-day SEC Yield
Fund at NAV 4.90% N/A
Fund at MOP 4.72% 6.60%
As of 7/31/2022 (updated monthly)
Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
Tom Chow 7 7 33
David A. Daigle 18 27
Tara L. Torrens 6 18
Shannon Ward 5 5 29
A boldface number indicates that years of experience with Capital Group is equal to years of experience with investment industry.

Portfolio Composition

Morningstar Rating TM


Overall Morningstar RatingTM
Funds rated(631)
3-yr. Morningstar RatingTM
(631 funds rated)
5-yr. Morningstar RatingTM
(575 funds rated)
10-yr. Morningstar RatingTM
(391 funds rated)
Overall Morningstar Risk Average
HIGH
LOW
Category High Yield Bond
Ratings are based on risk-adjusted returns as of 7/31/2022 (updated monthly).
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Lipper Leader Scorecard

Over-all 3 yr. 5 yr. 10 yr.
Consistent Return Within Category
Funds Rated

(481)

(481)

(428)

(299)
Expense Within Category
Funds Rated

(119)

(119)

(110)

(92)
Preservation Within Category
Funds Rated

(6265)

(6265)

(5585)

(3847)
Tax Efficiency Within Category
Funds Rated

(482)

(482)

(429)

(301)
Total Return Within Category
Funds Rated

(482)

(482)

(429)

(301)
Category High Yield Funds
KEY
HIGHEST LOWEST
As of 7/31/2022 (updated monthly)

Risk Measures

Fund
Standard Deviation
7.13
Sharpe Ratio
0.54
For the 10 Years ending 7/31/22 (updated monthly).
American Funds
Benchmark
Morningstar
Benchmark
Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index
Bloomberg US Agg Bond TR USD
R-squared 97 11
Beta 0.98 0.66
Capture Ratio (Downside/Upside) 100/95 56/118
American Funds Benchmark for the 10 Years ending 6/30/22 (updated quarterly).
Morningstar Benchmark for the 10 Years ending 7/31/22 (updated monthly).
U.S. Treasuries/Agencies
0.1%
BBB/Baa
4.0%
BB/Ba
41.8%
B
30.6%
CCC & Below
13.6%
Other
3.9%
Unrated
1.2%
Cash & equivalents
4.9%
% of net assets as of 6/30/2022 (updated quarterly)

Average Life Breakdown

0-4.9 Years
39.8%
5-9.9 Years
47.4%
10-19.9 Years
1.7%
20-29.9 Years
1.1%
30+ Years
0.1%
% of net assets as of 3/31/2022 (updated quarterly)

Holdings

Bonds Breakdown

Bond Details

Total bond holdings
Convertible securities 0.4%
Mortgage-backed obligations 0.1%
Other 0.1%

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

Top Fixed-Income Issuers

Deutsche Telekom
1.9%
Teva Pharmaceutical
1.8%
Charter Communications
1.6%
First Quantum Minerals
1.4%
Bombardier
1.3%

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

Geographic Breakdown

United States
79.7%
Europe
6.7%
Asia & Pacific Basin
1.3%
Other (Including Canada & Latin America)
5.8%
Cash & equivalents
6.5%
% of net assets as of 6/30/2022 (updated quarterly)

Prices & Distributions

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Historical Prices Month-End

Historical Prices Year-End

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Historical Distributions as of 08/18/22

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 $0.0374028 $0.00 $0.00 $0.00 $10.25
Daily 02/28/22 03/01/22 $0.0344403 $0.00 $0.00 $0.00 $10.15
Daily 03/31/22 04/01/22 $0.0423965 $0.00 $0.00 $0.00 $10.04
Daily 04/29/22 05/02/22 $0.0347002 $0.00 $0.00 $0.00 $9.67
Daily 05/31/22 06/01/22 $0.0445149 $0.00 $0.00 $0.00 $9.66
Daily 06/30/22 07/01/22 $0.0398139 $0.00 $0.00 $0.00 $9.00
Daily 07/29/22 08/01/22 $0.0419454 $0.00 $0.00 $0.00 $9.47
2022 Year-to-Date: Dividends Subtotal: $0.27521409 Cap Gains Subtotal: $0.00
Total Distributions: $0.27521409

Fees & Expenses

Internal Prompt

Fees

Annual Management Fees 0.26%
Other Expenses 0.17%
Service 12b-1 0.26%
As of each fund's most recent prospectus.
Internal Prompt

Expense Ratio

AHITX 0.69%
Lipper High Yield Funds Average
0.98%
Fund as of most recent prospectus. Lipper Category as of 6/30/22 (updated quarterly).

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