Investment Fund

Share Class
Purchase Restrictions: Class 529-F-2 share funds are available only for CollegeAmerica accounts sold through Registered Investment Advisors.

Summary

Internal Prompt
A research-driven approach to corporate bonds. Total-return-focused fund that seeks to generate most of its returns through income and normally invests its assets in U.S. dollar-denominated, investment-grade securities. Our deep, time-tested research may add consistency of returns while helping maintain a low correlation to equity markets.
Price at NAV $9.33 as of 12/27/2024 (updated daily)
Fund Assets (millions) $1,969.3
Portfolio Managers
2
Expense Ratio
(Gross/Net %)
0.43 / 0.42%
Quarterly Fund Fact Sheet (PDF)
Prospectus
Internal Prompt

Returns at NAV

Returns at MOP

Asset Mix

U.S. Equities0.0%
Non-U.S. Equities0.0%
U.S. Bonds80.8%
Non-U.S. Bonds10.6%
Cash & Equivalents
8.6%
As of 11/30/2024 (updated monthly)
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Volatility & Return

Read important investment disclosures

Fixed-Income

For Class 529-F-2 Shares, this chart tracks the 10-year standard deviation
and 10-year annualized return of the fixed income funds
FFBBX
Bloomberg U.S. Corporate Investment Grade Index
Other AF Funds
Standard Deviation as of 11/30/2024 (updated monthly) . Annualized return as of 11/30/2024 (updated monthly) .
VIEW LARGER CHART

Fund Statistics

7.1 years
Effective Duration
4.9%
Average Yield
to Worst
4.2%
Average Coupon
% of net assets as of 11/30/2024 (updated monthly)

Morningstar Style BoxTM— Fixed-Income

Medium Quality
Moderate Interest-Rate Sensitivity
Morningstar data as of 9/30/24 (updated quarterly)

Description

Objective
The fund’s investment objective is to seek to provide maximum total return consistent with capital preservation and prudent risk management.
Distinguishing Characteristics
This total-return-focused fund, which seeks to generate most of its returns through income, normally invests its assets in U.S. dollar-denominated, investment-grade (Baa3/BBB- and above) debt instruments. The fund's primary exposure is to higher quality corporate bonds. Our deep, time-tested research may add consistency of returns while helping maintain a low correlation to equity markets. Leveraging our capabilities across fixed income and equity teams, we are able to deepen our credit research in an underanalyzed category of the bond market.
Types of Investments
Primarily invests in corporate bonds.
Holdings Outside the U.S.
The fund may invest significantly in debt securities tied economically to countries outside the United States, including developing countries. All securities held by the fund will be denominated in U.S. dollars.
Maturity
The fund invests in debt securities with a wide range of maturities.
Portfolio Restrictions
Normally, at least 80% of the fund’s assets will be invested in corporate debt securities. In addition, under normal market conditions the fund invests in debt securities, including money market instruments, cash and cash equivalents, rated Baa3 or better or BBB- or better by Nationally Recognized Statistical Rating Organizations designated by the fund’s investment adviser or in debt securities that are unrated but determined to be of equivalent quality by the fund’s investment adviser at the time of purchase.

Fund Facts

Fund Inception 12/14/2012
Fund Assets (millions)
As of 11/30/2024
 $1,969.3
Companies/Issuers
Holdings are as of 11/30/2024 (updated monthly).
 185+
Shareholder Accounts
Shareholder accounts are as of 11/30/2024
 1,044
Regular Dividends Paid
Monthly
Minimum Initial Investment $250
Capital Gains Paid
Dec
Portfolio Turnover (2024) 191%
Fiscal Year-End May
Prospectus Date 08/01/2024
CUSIP 02629H 745
Fund Number 1632

Returns

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Month-End Returns as of 11/30/24

Returns at NAV
| at MOP
Read important investment disclosures
FFBBX
Bloomberg U.S. Corporate Investment Grade Index
ANNUAL RETURNS CHART

Quarter-End Returns as of 9/30/24

Growth of 10K

Read important investment disclosures

High & Low Prices

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Yield

12-month
Distribution Rates
30-day SEC Yield
Fund at NAV 4.21% 4.71%
Fund at MOP N/A N/A
As of 11/30/2024 (updated monthly)
Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
Karen Choi 4 16 28
Scott Sykes 6 18 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(180)
3-yr. Morningstar RatingTM
(180 funds rated)
5-yr. Morningstar RatingTM
(160 funds rated)
10-yr. Morningstar RatingTM
(100 funds rated)
Overall Morningstar Risk Average
HIGH
LOW
Category
Corporate Bond
ADVANTAGES AND DISADVANTAGES OF MORNINGSTAR RATINGS
Ratings are based on risk-adjusted returns as of 11/30/2024 (updated monthly).
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Lipper Leader Scorecard

Over-all 3 yr. 5 yr. 10 yr.
Consistent Return Within Category
Funds Rated
(238)
(238)
Expense Within Category
Funds Rated
(159)
(159)
Preservation Within Category
Funds Rated
(6082)
(6082)
Tax Efficiency Within Category
Funds Rated
(238)
(238)
Total Return Within Category
Funds Rated
(238)
(238)
Category Corp Debt BBB Rated Fds
KEY
HIGHEST LOWEST
As of 11/30/2024 (updated monthly)

Risk Measures

Fund
Standard Deviation
6.63
Sharpe Ratio
0.18
For the 10 Years ending 11/30/24 (updated monthly).
American Funds
Benchmark
Morningstar
Benchmark
Bloomberg U.S. Corporate Investment Grade Index
Bloomberg US Agg Bond TR USD
R-squared
88 88
Beta
1.25 1.25
Capture Ratio (Downside/Upside)
123/137 123/137
American Funds Benchmark for the 10 Years ending 11/30/24 (updated monthly).
Morningstar Benchmark for the 10 Years ending 11/30/24 (updated monthly).
U.S. Treasuries/Agencies
9.0%
AAA/Aaa
0.9%
AA/Aa
12.5%
A
38.5%
BBB/Baa
30.1%
BB/Ba
0.1%
Unrated
0.3%
Cash & equivalents
8.7%
% of net assets as of 11/30/2024 (updated monthly)

Average Life Breakdown

0-4.9 Years
20.4%
5-9.9 Years
52.7%
10-19.9 Years
6.6%
20-29.9 Years
15.1%
30+ Years
0.8%
% of net assets as of 9/30/2024 (updated monthly)

Holdings

Bonds Breakdown

Bond Details

Total bond holdings
U.S. Treasury bonds & notes 7.3%
Asset-backed obligations 0.9%
Revenue bonds 0.2%
Non-U.S. government/agency securities 0.1%

% of net assets as of 9/30/2024 (updated quarterly)

Top Fixed-Income Issuers

U.S. Treasury
8.7%
PG&E
2.6%
Amgen
2.4%
AbbVie
2.2%
Philip Morris International
2.1%
Boeing
2.0%
JPMorgan Chase
2.0%
Morgan Stanley
1.9%
Edison International
1.7%
Home Depot
1.5%

% of net assets as of 11/30/2024 (updated monthly)

Geographic Breakdown

Regions | Currency Weighting
| Top Countries
United States
80.8%
Europe
6.5%
Asia & Pacific Basin
0.7%
Other (Including Canada & Latin America)
3.5%
Cash & equivalents
8.6%
% of net assets as of 11/30/2024 (updated monthly)

Prices & Distributions

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Historical Prices Month-End

2024

Historical Prices Year-End

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Historical Distributions as of 12/27/24

FIND HISTORICAL DISTRIBUTIONS
2024
Record
Date		 Calculated
Date		 Pay Date
Income Dividend Regular
Income Dividend Special
Cap. Gains Long-Term
Cap. Gains Short-Term
Reinvest NAV
Daily 01/31/24 02/01/24 $0.0336847 $0.00 $0.00 $0.00 $9.51
Daily 02/29/24 03/01/24 $0.030974 $0.00 $0.00 $0.00 $9.34
Daily 03/28/24 04/01/24 $0.0333912 $0.00 $0.00 $0.00 $9.42
Daily 04/30/24 05/01/24 $0.0324258 $0.00 $0.00 $0.00 $9.15
Daily 05/31/24 06/03/24 $0.0338461 $0.00 $0.00 $0.00 $9.28
Daily 06/28/24 07/01/24 $0.0332051 $0.00 $0.00 $0.00 $9.32
Daily 07/31/24 08/01/24 $0.0349507 $0.00 $0.00 $0.00 $9.52
Daily 08/30/24 09/03/24 $0.0342199 $0.00 $0.00 $0.00 $9.64
Daily 09/30/24 10/01/24 $0.0347344 $0.00 $0.00 $0.00 $9.77
Daily 10/31/24 11/01/24 $0.0353368 $0.00 $0.00 $0.00 $9.49
Daily 11/29/24 12/02/24 $0.0334844 $0.00 $0.00 $0.00 $9.57
2024 Year-to-Date: Dividends Subtotal: $0.3702531 Cap Gains Subtotal: $0.00
Total Distributions: $0.3702531

Fees & Expenses

Internal Prompt

Fees

Annual Management Fees 0.25%
Other Expenses 0.18%
Service 12b-1 --
As of each fund's most recent prospectus.
Internal Prompt

Expense Ratio

Gross Net
FFBBX 0.43% 0.42%
Lipper Corporate Debt BBB-Rated Funds Average
--%
Fund as of most recent prospectus. Lipper Category as of -- (updated quarterly).