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
A flexible approach to growth-and-income investing. With an emphasis on growth over income, the strategy seeks undervalued and overlooked opportunities, investing in companies with high-quality products and leading market shares with the underappreciated potential for growth in sales, earnings and dividends.
Price at NAV $86.52 as of 11/20/2024 (updated daily)
Fund Assets (millions) $140,321.9
Portfolio Managers
8
Expense Ratio
(Gross/Net %)
1.36 / 1.36%
Quarterly Fund Fact Sheet (PDF)
Prospectus
Internal Prompt

Returns at NAV

Returns at MOP

Asset Mix

U.S. Equities81.3%
Non-U.S. Equities16.3%
U.S. Bonds0.0%
Non-U.S. Bonds0.0%
Cash & Equivalents
2.4%
As of 10/31/2024 (updated monthly)
Internal Prompt

Volatility & Return

Read important investment disclosures

Equities

For Class R-1 Shares, this chart tracks the 10-year standard deviation
and 10-year annualized return of the equity funds
RFNAX
S&P 500 Index
Other AF Funds
Standard Deviation as of 10/31/2024 (updated monthly) . Annualized return as of 10/31/2024 (updated monthly) .
VIEW LARGER CHART

Market Capitalization

79.7%
Large
18.5%
Medium
1.8%
Small
$586,529.00 Million
Weighted Average


As of 9/30/2024 (updated quarterly). FactSet data as of 9/30/2024 (updated quarterly).

Morningstar Ownership ZoneTM

Large Blend
Weighted average of holdings
75% of fund's stock holdings
Morningstar data as of 9/30/24 (updated quarterly)
INSIGHTS ON THE MORNINGSTAR OWNERSHIP ZONE

Description

Objective
The fund's investment objective is to achieve long-term growth of capital and income.
Distinguishing Characteristics
With an emphasis on growth over income, the strategy seeks undervalued and overlooked opportunities. It invests in companies with high-quality products and leading market shares with the underappreciated potential for growth in sales, earnings and dividends. It has the flexibility to invest a sizeable portion of its assets outside of the U.S.
Types of Investments
The fund primarily invests in common stocks or securities convertible into common stocks, bonds, U.S. government securities and cash.
Holdings Outside the U.S.
May invest up to 35% of its assets in securities of issuers that are domiciled outside the United States.
Portfolio Restrictions
The fund may invest up to 5% of assets in debt securities rated Ba and BB or below (or unrated, but determined by the fund’s investment adviser to be of equivalent quality).

Fund Facts

Fund Inception 8/01/1978
Fund Assets (millions)
As of 10/31/2024
 $140,321.9
Companies/Issuers
Holdings are as of 10/31/2024 (updated monthly).
 229+
Shareholder Accounts
Shareholder accounts are as of 10/31/2024
 704
Regular Dividends Paid
Mar, Jun, Sep, Dec
Minimum Initial Investment $0
Capital Gains Paid
Jun, Dec
Portfolio Turnover (2023) 28%
Fiscal Year-End Dec
Prospectus Date 03/01/2024
CUSIP 360802 87 0
Fund Number 2110

Returns

Internal Prompt

Month-End Returns as of 10/31/24

Returns at NAV
| at MOP
Read important investment disclosures
RFNAX
S&P 500 Index
ANNUAL RETURNS CHART

Quarter-End Returns as of 9/30/24

Growth of 10K

Read important investment disclosures

High & Low Prices

Internal Prompt

Yield

12-month
Distribution Rates
30-day SEC Yield
Fund at NAV 0.28% 0.15%
Fund at MOP N/A N/A
As of 10/31/2024 (updated monthly)

Valuation

Price/ Price/ Price/
Book
Cash Flow
Earnings
Fund 3.85 13.97 19.21
S&P 500 Index
4.30 15.60 21.60
Fund as of 9/30/24. Index as of 9/30/24.
Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
Julian N. Abdey 6 21 28
Paul Benjamin 7 18
Mark L. Casey 13 23
Mathews Cherian 8 20 27
Brady L. Enright 18 27 35
Irfan M. Furniturewala 6 23
Dimitrije M. Mitrinovic 4 16 22
Diana Wagner 6 23 29
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(1288)
3-yr. Morningstar RatingTM
(1288 funds rated)
5-yr. Morningstar RatingTM
(1186 funds rated)
10-yr. Morningstar RatingTM
(892 funds rated)
Overall Morningstar Risk Below Average
HIGH
LOW
Category
Large Blend
ADVANTAGES AND DISADVANTAGES OF MORNINGSTAR RATINGS
Ratings are based on risk-adjusted returns as of 10/31/2024 (updated monthly).
Internal Prompt

Lipper Leader Scorecard

Over-all 3 yr. 5 yr. 10 yr.
Consistent Return Within Category
Funds Rated
(612)
(612)
(562)
(431)
Expense Within Category
Funds Rated
(393)
(393)
(350)
(236)
Preservation Within Category
Funds Rated
(12312)
(12312)
(11263)
(8264)
Tax Efficiency Within Category
Funds Rated
(612)
(612)
(562)
(431)
Total Return Within Category
Funds Rated
(612)
(612)
(562)
(431)
Category Large-Cap Core Funds
KEY
HIGHEST LOWEST
As of 10/31/2024 (updated monthly)

Risk Measures

Fund
Standard Deviation
15.05
Sharpe Ratio
0.66
For the 10 Years ending 10/31/24 (updated monthly).
American Funds/
Morningstar Benchmark
S&P 500 TR USD
R-squared
97
Beta
0.97
Capture Ratio (Downside/Upside)
102/95
American Funds and Morningstar Benchmark for the 10 Years ending 10/31/24 (updated monthly).

Holdings

Equities Breakdown

Sectors | Top Industries
Equity Fund Holdings
 Information technology 25.1%
Industrials 13.8%
Financials 12.4%
Health care 11.8%
Consumer discretionary 8.9%
Communication services 7.9%
Consumer staples 7.0%
Energy 3.3%
Utilities 2.9%
Materials 2.9%
Real estate 1.6%

% of net assets as of 10/31/2024 (updated monthly)

Top Equities

Broadcom
6.6%
Microsoft
5.2%
Philip Morris International
3.4%
Meta Platforms
2.8%
Alphabet
2.8%
Amazon.com
2.6%
TransDigm Group
2.6%
TSMC
2.3%
UnitedHealth Group
2.0%
NVIDIA
1.9%

% of net assets as of 10/31/2024 (updated monthly)

Geographic Breakdown

Regions | Top Countries
United States
81.3%
Europe
7.8%
Asia & Pacific Basin
4.1%
Other (Including Canada & Latin America)
4.4%
Cash & equivalents
2.4%
% of net assets as of 10/31/2024 (updated monthly)

The New Geography of Investing ®

Equity Portion Breakdown by Domicile | Equity Portion Breakdown by Revenue
Regions Fund
S&P 500 Index
United States 83.3% 100.0%
Canada 3.9% 0.0%
Europe 8.0% 0.0%
Emerging Markets 4.8% 0.0%

% of net assets as of 10/31/2024 (updated monthly)

Fund Breakdown by Domicile

Regions Fund
S&P 500 Index
United States 81.3% 100.0%
Canada 3.8% 0.0%
Europe 7.8% 0.0%
Emerging Markets 4.7% 0.0%
Cash & Equivalents
2.4% 0.0%

% of net assets as of 10/31/2024 (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 11/20/24

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
03/13/24 03/13/24 03/14/24 $0.0247 $0.00 $0.00 $0.00 $77.45
06/12/24 06/12/24 06/13/24 $0.0172 $0.00 $0.498 $0.00 $80.24
09/18/24 09/18/24 09/19/24 $0.0046 $0.00 $0.00 $0.00 $82.65
2024 Year-to-Date: Dividends Subtotal: $0.0465 Cap Gains Subtotal: $0.498
Total Distributions: $0.5445

Fees & Expenses

Internal Prompt

Fees

Annual Management Fees 0.24%
Other Expenses 0.13%
Service 12b-1 0.99%
As of each fund's most recent prospectus.
Internal Prompt

Expense Ratio

RFNAX 1.36%
Lipper Growth & Income Funds Average
--%
Fund as of most recent prospectus. Lipper Category as of -- (updated quarterly).