2024 year-end distributions

December 5, 2024

Capital Gain Distribution

Capital Gain Distributions

The estimated long-term and short-term capital gain distributions for 2024 are listed below. The actual distribution amounts will be based on gains and losses realized through October 31 (or later for certain funds). The funds' long-term approach to investing means that the capital gains realized in a particular year can be the result of an investment held over an extended period of time. The amount of capital gain distributions may vary year over year since the distributions are based on net capital gains realized each year. Some American Funds mutual funds, offered by Capital Group, also paid a midyear capital gain distribution in June. The distribution amounts were based on gains and losses realized through the end of each fund's most recent fiscal year. Please refer to the 2024 midyear capital gain distributions page for more information.

For American Funds, distributions are based on the fund shares owned at the beginning of the day on the record date. For Capital Group exchange-traded funds, distributions are based on the fund shares owned at the end of the day on the record date.

Read our Capital gains FAQ to learn about capital gain distributions and how they affect your account.

Estimated year-end distributions of capital gains (percentage range based on current share prices*)
				Percentage range^*		Per-share range^†
Fund	Ex-date	Record date	Payment date	Long-term	Short-term^‡	Long-term	Short-term^‡

AMCAP Fund®	12/17	12/17	12/18	5.0%–6.5%	—	$2.420–$2.620	—
American Balanced Fund®	12/16	12/16	12/17	4.0–5.5	—	1.620–1.820	—
American Funds Corporate Bond Fund®	12/31	12/31	1/2/25	—	—	—	—
American Funds Developing World Growth and Income Fund	12/20	12/20	12/23	—	—	—	—
American Funds Emerging Markets Bond Fund®	12/31	12/31	1/2/25	—	—	—	—
American Funds Global Balanced Fund	12/20	12/20	12/23	3.0–4.0	—	1.250–1.350	—
American Funds Global Insight Fund	12/16	12/16	12/17	—	—	—	—
American Funds Inflation Linked Bond Fund®	12/18	12/18	12/19	—	—	—	—
American Funds International Vantage Fund	12/16	12/16	12/17	—	—	—	—
American Funds Mortgage Fund®	12/31	12/31	1/2/25	—	—	—	—
American Funds Multi-Sector Income Fund	12/31	12/31	1/2/25	—	—	—	—
American Funds Short-Term Tax-Exempt Bond Fund®	12/31	12/31	1/2/25	—	—	—	—
American Funds Strategic Bond Fund	12/18	12/18	12/19	—	—	—	—
American Funds Tax-Exempt Fund of New York®	12/31	12/31	1/2/25	—	—	—	—
American Funds U.S. Government Money Market Fund	12/31	12/31	1/2/25	—	—	—	—
American High-Income Municipal Bond Fund®	12/31	12/31	1/2/25	—	—	—	—
American High-Income Trust®	12/31	12/31	1/2/25	—	—	—	—
American Mutual Fund®	12/17	12/17	12/18	4.0–5.0	—	2.450–2.550	—
The Bond Fund of America®	12/31	12/31	1/2/25	—	—	—	—
Capital Income Builder®	12/19	12/19	12/20	2.0–3.0	—	1.640–1.690	—
Capital World Bond Fund®	12/18	12/18	12/19	—	—	—	—
Capital World Growth and Income Fund®	12/17	12/17	12/18	5.0–7.0	—	3.650–4.150	—
EuroPacific Growth Fund®	12/19	12/19	12/20	2.5–4.0	—	1.690–1.890	—
Fundamental Investors®	12/18	12/18	12/19	6.0–7.5	—	5.670–5.870	—
The Growth Fund of America®	12/18	12/18	12/19	7.0–9.0	—	6.270–6.470	—
The Income Fund of America®	12/16	12/16	12/17	2.0–3.0	—	0.510–0.610	—
Intermediate Bond Fund of America®	12/31	12/31	1/2/25	—	—	—	—
International Growth and Income Fund	12/20	12/20	12/23	0.5–1.0	—	0.250–0.300	—
The Investment Company of America®	12/17	12/17	12/18	6.5–8.0	—	4.200–4.400	—
Limited Term Tax-Exempt Bond Fund of America®	12/31	12/31	1/2/25	—	—	—	—
The New Economy Fund®	12/17	12/17	12/18	8.0–10.0	—	5.570–6.070	—
New Perspective Fund®	12/19	12/19	12/20	4.0–5.0	—	2.720–2.920	—
New World Fund®	12/19	12/19	12/20	2.0–3.0	—	2.070–2.270	—
Short-Term Bond Fund of America®	12/31	12/31	1/2/25	—	—	—	—
SMALLCAP World Fund®	12/20	12/20	12/23	—	—	—	—
The Tax-Exempt Bond Fund of America®	12/31	12/31	1/2/25	—	—	—	—
The Tax-Exempt Fund of California®	12/31	12/31	1/2/25	—	—	—	—
U.S. Government Securities Fund®	12/31	12/31	1/2/25	—	—	—	—
Washington Mutual Investors Fund	12/19	12/19	12/20	3.5–4.5	—	2.460–2.660	—

AMERICAN FUNDS PORTFOLIO SERIES

American Funds Conservative Growth and Income Portfolio	12/27	12/27	12/30	1.0–2.0	—	0.140–0.190	—
American Funds Global Growth Portfolio	12/27	12/27	12/30	3.0–4.0	—	0.790–0.840	—
American Funds Growth and Income Portfolio	12/27	12/27	12/30	2.5–3.5	—	0.540–0.590	—
American Funds Growth Portfolio	12/27	12/27	12/30	5.0–6.0	—	1.350–1.400	—
American Funds Moderate Growth and Income Portfolio	12/27	12/27	12/30	1.0–2.0	—	0.220–0.270	—
American Funds Preservation Portfolio	12/27	12/27	12/30	—	—	—	—
American Funds Tax-Aware Conservative Growth and Income Portfolio	12/27	12/27	12/30	2.0–3.0	0.0%–1.0%	0.380–0.430	$0.000–$0.050
American Funds Tax-Exempt Preservation Portfolio	12/27	12/27	12/30	—	—	—	—

AMERICAN FUNDS RETIREMENT INCOME PORTFOLIO SERIES

American Funds Retirement Income Portfolio – Conservative	12/27	12/27	12/30	—	—	—	—
American Funds Retirement Income Portfolio – Enhanced	12/27	12/27	12/30	0.0–1.0	—	0.000–0.030	—
American Funds Retirement Income Portfolio – Moderate	12/27	12/27	12/30	0.0–1.0	—	0.000–0.030	—

AMERICAN FUNDS TARGET DATE RETIREMENT SERIES®

American Funds 2070 Target Date Retirement Fund	12/26	12/26	12/27	0.0–1.0	—	0.000–0.050	—
American Funds 2065 Target Date Retirement Fund	12/26	12/26	12/27	1.0–3.0	—	0.280–0.330	—
American Funds 2060 Target Date Retirement Fund®	12/26	12/26	12/27	1.0–3.0	—	0.370–0.420	—
American Funds 2055 Target Date Retirement Fund®	12/26	12/26	12/27	1.0–3.0	—	0.580–0.630	—
American Funds 2050 Target Date Retirement Fund®	12/26	12/26	12/27	1.0–3.0	—	0.450–0.500	—
American Funds 2045 Target Date Retirement Fund®	12/26	12/26	12/27	1.0–3.0	—	0.440–0.490	—
American Funds 2040 Target Date Retirement Fund®	12/26	12/26	12/27	1.0–3.0	—	0.430–0.480	—
American Funds 2035 Target Date Retirement Fund®	12/26	12/26	12/27	2.0–3.0	—	0.450–0.500	—
American Funds 2030 Target Date Retirement Fund®	12/26	12/26	12/27	1.0–2.0	—	0.260–0.310	—
American Funds 2025 Target Date Retirement Fund®	12/26	12/26	12/27	2.0–3.0	—	0.370–0.420	—
American Funds 2020 Target Date Retirement Fund®	12/26	12/26	12/27	1.0–3.0	—	0.300–0.350	—
American Funds 2015 Target Date Retirement Fund®	12/26	12/26	12/27	1.0–3.0	—	0.250–0.300	—
American Funds 2010 Target Date Retirement Fund®	12/26	12/26	12/27	1.5–2.5	—	0.220–0.270	—

EXCHANGE-TRADED FUNDS

CGCV – Capital Group Conservative Equity ETF	12/26	12/26	12/27	—	—	—	—
CGBL – Capital Group Core Balanced ETF	12/26	12/26	12/27	—	—	—	—
CGCB – Capital Group Core Bond ETF	12/24	12/24	12/26	—	—	—	—
CGUS – Capital Group Core Equity ETF	12/26	12/26	12/27	—	—	—	—
CGCP – Capital Group Core Plus Income ETF	12/24	12/24	12/26	—	—	—	—
CGDG – Capital Group Dividend Growers ETF	12/26	12/26	12/27	—	—	—	—
CGDV – Capital Group Dividend Value ETF	12/26	12/26	12/27	—	—	—	—
CGGE – Capital Group Global Equity ETF	12/26	12/26	12/27	—	—	—	—
CGGO – Capital Group Global Growth Equity ETF	12/26	12/26	12/27	—	—	—	—
CGGR – Capital Group Growth ETF	12/26	12/26	12/27	—	—	—	—
CGIB – Capital Group International Bond ETF (USD-Hedged)	12/24	12/24	12/26	0.0–0.5	—	0.000–0.080	—
CGIC – Capital Group International Core Equity ETF	12/26	12/26	12/27	—	—	—	—
CGIE – Capital Group International Equity ETF	12/26	12/26	12/27	—	—	—	—
CGXU – Capital Group International Focus Equity ETF	12/26	12/26	12/27	—	—	—	—
CGHM – Capital Group Municipal High-Income ETF	12/24	12/24	12/26	—	—	—	—
CGMU – Capital Group Municipal Income ETF	12/24	12/24	12/26	—	—	—	—
CGNG – Capital Group New Geography Equity ETF	12/26	12/26	12/27	—	—	—	—
CGSD – Capital Group Short Duration Income ETF	12/24	12/24	12/26	—	—	—	—
CGSM – Capital Group Short Duration Municipal Income ETF	12/24	12/24	12/26	—	—	—	—
CGUI – Capital Group Ultra Short Income ETF	12/24	12/24	12/26	0.0–0.5	0.0–0.5	0.000–0.020	0.000–0.040
CGMS – Capital Group U.S. Multi-Sector Income ETF	12/24	12/24	12/26	—	—	—	—

^* Estimated percentage ranges are based on share prices as of October 31, 2024, for Class A shares for the American Funds and for the Capital Group exchange-traded funds. The ranges may differ in December due to variability in the funds' share prices between now and the December ex-date.

^† Estimated per-share ranges are based on shares outstanding as of October 31, 2024, and may differ in December due to variability in the funds' outstanding shares between now and the December ex-date.

^‡ Short-term capital gains are treated as ordinary income for tax purposes.

Dividends

Income dividends

In December, many American Funds are expected to pay regular income dividends. In addition, several funds will pay special dividends.

Please refer to the estimated taxable income dividends (PDF) — which includes regular and special dividends — for your year-end planning.

Actual dividend amounts in December may vary.

Special dividends

The following American Funds are expected to pay special dividends in December, in addition to their regular dividend payment.

Funds expected to pay special dividends
Fund	Estimated per-share amount
American Balanced Fund	$0.25-$0.40
American Funds Multi-Sector Income Fund	0.00–0.01
American Funds Short-Term Tax-Exempt Bond Fund ¹	0.00–0.01
American High-Income Municipal Bond Fund ¹	0.00–0.02
American Mutual Fund	0.07–0.12
Capital Income Builder	0.49–0.54
Capital World Growth and Income Fund	0.20–0.25
Fundamental Investors	0.21–0.26
The Income Fund of America	0.29–0.34
Limited Term Tax-Exempt Bond Fund of America ¹	0.00–0.01
The Tax-Exempt Bond Fund of America ¹	0.00–0.02
The Tax-Exempt Fund of California ¹	0.00–0.02
Washington Mutual Investors Fund	0.02–0.07

¹ While the regular dividend payment for these funds are 100% tax-exempt, the special dividends disclosed in the chart are expected to be 100% taxable.

Qualified dividends

Funds that invest in stocks of U.S. corporations and many of those based outside the U.S. pay dividends that qualify for lower tax rates. However, when a fund derives a significant portion of its income from sources such as interest, short-term capital gains and dividends from certain international corporations, a portion of its dividend does not qualify for reduced tax rates. Instead, that portion is taxed at the ordinary income rates. Funds that derive all of their income from investments in bonds, money market instruments and non-dividend-paying investments do not pay qualified dividends.

Preliminary 2024 estimates of the percentage range of each fund's taxable dividends that qualify for lower tax rates are shown below. The final percentages for 2024 could vary. The actual amount of qualified dividends will be reported on the 2024 Form 1099-DIV (available late January).

Expected to pay Qualified dividends
Fund	Percentage Range
AMCAP Fund®	100%
American Balanced Fund	40–55
American Funds Developing World Growth and Income Fund	90–100
American Funds Global Balanced Fund	60–70
American Funds Global Insight Fund	90–100
American Funds International Vantage Fund	90–100
American Mutual Fund	90–100
Capital Income Builder	65–80
Capital World Growth and Income Fund	90–100
EuroPacific Growth Fund®	85–100
Fundamental Investors	100
The Growth Fund of America®	100
The Income Fund of America	45–60
International Growth and Income Fund	85–100
The Investment Company of America®	100
The New Economy Fund®	90–100
New Perspective Fund®	90–100
New World Fund®	70–90
SMALLCAP World Fund®	70–100
Washington Mutual Investors Fund	100

AMERICAN FUNDS PORTFOLIO SERIES

American Funds Conservative Growth and Income Portfolio	25–40
American Funds Global Growth Portfolio	85–100
American Funds Growth and Income Portfolio	60–75
American Funds Growth Portfolio	100
American Funds Moderate Growth and Income Portfolio	50–65
American Funds Tax-Aware Conservative Growth and Income Portfolio	85–100

AMERICAN FUNDS RETIREMENT INCOME PORTFOLIO SERIES

American Funds Retirement Income Portfolio – Conservative	25–40
American Funds Retirement Income Portfolio – Enhanced	40–55
American Funds Retirement Income Portfolio – Moderate	35–50

AMERICAN FUNDS TARGET DATE RETIREMENT SERIES®

American Funds 2070 Target Date Retirement Fund	75–95
American Funds 2065 Target Date Retirement Fund	80–100
American Funds 2060 Target Date Retirement Fund®	80–100
American Funds 2055 Target Date Retirement Fund®	80–100
American Funds 2050 Target Date Retirement Fund®	80–100
American Funds 2045 Target Date Retirement Fund®	75–95
American Funds 2040 Target Date Retirement Fund®	65–85
American Funds 2035 Target Date Retirement Fund®	50–65
American Funds 2030 Target Date Retirement Fund®	35–50
American Funds 2025 Target Date Retirement Fund®	25–40
American Funds 2020 Target Date Retirement Fund®	25–40
American Funds 2015 Target Date Retirement Fund®	25–40
American Funds 2010 Target Date Retirement Fund®	25–40

EXCHANGE-TRADED FUNDS

CGCV – Capital Group Conservative Equity ETF	90–100
CGBL – Capital Group Core Balanced ETF	35–45
CGUS – Capital Group Core Equity ETF	100
CGDG – Capital Group Dividend Growers ETF	85–100
CGDV – Capital Group Dividend Value ETF	100
CGGE – Capital Group Global Equity ETF	90–100
CGGO – Capital Group Global Growth Equity ETF	90–100
CGGR – Capital Group Growth ETF	100
CGIC – Capital Group International Core Equity ETF	85–100
CGIE – Capital Group International Equity ETF	90–100
CGXU – Capital Group International Focus Equity ETF	90–100
CGNG – Capital Group New Geography Equity ETF	90–100

Return of Capital

Return of capital

A portion of the income dividends distributed by American Funds Emerging Markets Bond Fund®, American Funds Multi-Sector Income Fund, American Funds Strategic Bond Fund, The Bond Fund of America and Capital World Bond Fund® during 2024 may be classified as a return of capital. The actual amount of return of capital will be reported in Box 3 “Nondividend Distributions” of the 2024 1099-DIV (available late January).

You could lose money by investing in American Funds® U.S. Government Money Market Fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund's sponsor is not required to reimburse the fund for losses, and you should not expect that the sponsor will provide financial support to the fund at any time, including during periods of market stress.

Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.

The value of fixed income securities may be affected by changing interest rates and changes in credit ratings of the securities.

This material does not constitute legal or tax advice. Investors should consult with their legal or tax advisors.

Visit the SEC website for the American Funds® U.S. Government Money Market Fund's most recent filings.

All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.

Use of this website is intended for U.S. residents only. Use of this website and materials is also subject to approval by your home office.

Capital Client Group, Inc.

This content, developed by Capital Group, home of American Funds, should not be used as a primary basis for investment decisions and is not intended to serve as impartial investment or fiduciary advice.

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2024 year-end distributions

Capital Gain Distributions

Estimated year-end distributions of capital gains (percentage range based on current share prices*)

Percentage range^*

Per-share range^†

Dividends

Income dividends

Special dividends

Funds expected to pay special dividends

Qualified dividends

Expected to pay Qualified dividends

Return of capital

Investments

RESOURCES & RESEARCH

PORTFOLIO SOLUTIONS

MORE OFFERINGS

OUR APPROACH

Insights

Capital Ideas Pro™: Access to special events, courses and consulting to help you grow.

CATEGORIES

FEATURED

LEARNING CENTER

Tools & Resources

CLIENT ACCOUNT SUPPORT

INVESTMENT TOOLS

RETIREMENT PLANS

About Us

2024 year-end distributions

Capital Gain Distributions

Estimated year-end distributions of capital gains (percentage range based on current share prices*)

Percentage range*

Per-share range†

Dividends

Income dividends

Special dividends

Funds expected to pay special dividends

Qualified dividends

Expected to pay Qualified dividends

Return of capital

Capital Ideas Pro™:Access to special events, courses and consulting to help you grow.

Percentage range^*

Per-share range^†