Summary

Internal Prompt
A high-quality core bond portfolio with broad diversification. The fund has the ability to invest in every sector of the bond market and pursue multiple sources of active return, with a limited percentage of below-investment-grade holdings. This approach may help diversify equity risk in a portfolio.
Price at NAV $11.18 as of 2/19/2025 (updated daily)
Fund Assets (millions) $91,435.6
Portfolio Managers
1,2
5
Expense Ratio
(Gross/Net %)
3
0.62 / 0.62%
Internal Prompt

Returns at NAV

Returns with Sales Charge

Read important investment disclosures
-2.07%
1-year return
-0.76%
5-year return
0.96%
10-year return
4.23%
30-Day SEC Yield
Returns as of 1/31/25 (updated monthly). Yield as of 1/31/25 (updated monthly).

Asset Mix

U.S. Equities0.0%
Non-U.S. Equities0.0%
U.S. Bonds86.3%
Non-U.S. Bonds9.2%
Cash & Equivalents
4
4.4%
As of 1/31/2025 (updated monthly)

Growth of 10K
5

Read important investment disclosures
For Class A Shares, this chart tracks a hypothetical investment with dividends reinvested, over the last 20 years, or since inception date if the fund has been in existence under 20 years, through 12/31/2024.
ABNDX
Bloomberg U.S. Aggregate Index

High & Low Prices

Fund Statistics

6.1 years
Effective Duration
5.2%
Average Yield
to Worst
4.2%
Average Coupon
% of net assets as of 1/31/2025 (updated monthly)

Morningstar Style BoxTM— Fixed-Income
6

High Quality
Moderate Interest-Rate Sensitivity
Morningstar data as of 12/31/24 (updated quarterly)

Description

Fund Objective
The fund's investment objective is to provide as high a level of current income as is consistent with the preservation of capital.
Distinguishing Characteristics
Taking a broadly diversified, high-quality approach, this core bond fund has the ability to invest in every sector of the bond market and pursue multiple sources of active return, with a limited percentage of below-investment-grade holdings. This approach may help diversify equity risk in a portfolio. The fund draws on our experience in managing U.S. core bonds since 1973 and a 90-year heritage of investing in U.S. markets.
Types of Investments
Primarily invests in corporate debt securities, U.S. and other government securities, mortgage-related securities and cash.
Holdings Outside the U.S.
May invest in fixed-income securities of corporations and government entities outside the United States.
Portfolio Restrictions
The fund generally invests at least 80% of its assets in bonds, including corporate bonds, U.S. government securities and money market instruments. At least 60% of its assets will be invested in securities rated A3/A- or better at the time of purchase (or unrated but determined by the fund’s investment adviser to be of equivalent quality). It is the fund’s current practice not to invest more than 5% of its assets in debt securities rated Ba1 and BB+ or below.

Fund Facts

Fund Inception 5/28/1974
Fund Assets (millions)
As of 1/31/2025
$91,435.6
Companies/Issuers
Holdings are as of 1/31/2025 (updated monthly).
1389+
Shareholder Accounts
Shareholder accounts are as of 1/31/2025
1,305,153
Regular Dividends Paid
7
Monthly
Minimum Initial Investment $250
Capital Gains Paid
7
Jun, Dec
Portfolio Turnover (2024) 370%
Fiscal Year-End Dec
Prospectus Date 03/01/2024
CUSIP 097873 10 3
Fund Number 8

Returns

Internal Prompt

Month-End Returns as of 1/31/25

Quarter-End Returns as of 12/31/24

Internal Prompt

Volatility & Return

Read important investment disclosures

Fixed-Income

For Class A Shares, this chart tracks the 10-year standard deviation
9
and 10-year annualized return of the fixed income funds
ABNDX
Bloomberg U.S. Aggregate Index
Other AF Funds
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

Prices and returns will vary, so investors may lose money. View .

Returns at net asset value (NAV) do not reflect a sales charge. If a sales charge had been deducted, the results would have been lower.

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 , which can be obtained from a financial professional and should be read carefully before investing.

The return of principal for bond portfolios and for portfolios with significant underlying bond holdings is not guaranteed. Investments are subject to the same interest rate, inflation and credit risks associated with the underlying bond holdings.

The use of derivatives involves a variety of risks, which may be different from, or greater than, the risks associated with investing in traditional securities, such as stocks and bonds.

Lower rated bonds are subject to greater fluctuations in value and risk of loss of income and principal than higher rated bonds.

While not directly correlated to changes in interest rates, the values of inflation-linked bonds generally fluctuate in response to changes in real interest rates and may experience greater losses than other debt securities with similar durations.

Investing outside the United States involves risks, such as currency fluctuations, periods of illiquidity and price volatility. These risks may be heightened in connection with investments in developing countries.

Investments in mortgage-related securities involve additional risks, such as prepayment risk.

Interests in Capital Group's U.S. Government Securities portfolios are not guaranteed by the U.S. government.

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.

Investment results assume all distributions are reinvested and reflect applicable fees and expenses.

Since American Funds Corporate Bond Fund's inception through July 29, 2016, certain fees, such as 12b-1 fees, were not charged on Class A shares. If these expenses had been deducted, results would have been lower.

  1. Calculated by Morningstar. Due to differing calculation methods, the figures shown here may differ from those calculated by Capital Group.

Capital Client Group, Inc.

Use of this website is intended for U.S. residents only.

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.

© 2025 Morningstar, Inc. All Rights Reserved. Some of the information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar, its content providers nor Capital Group are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Information is calculated by Morningstar. Due to differing calculation methods, the figures shown here may differ from those calculated by Capital Group.

Terms and Definitions

Standard Deviation: Annualized standard deviation (based on monthly returns) is a common measure of absolute volatility that tells how returns over time have varied from the mean. A lower number signifies lower volatility.

Standard Deviation as of 01/31/2025 (updated monthly) . Annualized return as of 01/31/2025 (updated monthly) .
VIEW LARGER CHART
Internal Prompt

Yield

12-month
Distribution Rates
10
30-day SEC Yield
Fund at NAV 4.29% N/A
Fund at MOP 4.13% 4.23%
As of 1/31/2025 (updated monthly)

Portfolio Management
1,2

Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
Pramod Atluri 9 9 21
David J. Betanzos 8 23 27
David A. Hoag 12 33 37
Fergus N. MacDonald 10 21 32
Chitrang Purani 2 3 21
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
11


Overall Morningstar RatingTM
Funds rated(431)
3-yr. Morningstar RatingTM
(431 funds rated)
5-yr. Morningstar RatingTM
(388 funds rated)
10-yr. Morningstar RatingTM
(275 funds rated)
Overall Morningstar Risk Average
HIGH
LOW
Category Intermediate Core Bond
Ratings are based on risk-adjusted returns as of 1/31/2025 (updated monthly).

Risk Measures

Fund
Standard Deviation
9
4.96
Sharpe Ratio
9
-0.08
For the 10 Years ending 1/31/25 (updated monthly).
American Funds/
Morningstar Benchmark
9
Bloomberg US Agg Bond TR USD
R-squared 98
Beta 0.99
Capture Ratio (Downside/Upside) 97/100
American Funds and Morningstar Benchmark for the 10 Years ending 1/31/25 (updated monthly).
U.S. Treasuries/Agencies
23.3%
AAA/Aaa
40.7%
AA/Aa
3.4%
A
11.7%
BBB/Baa
13.5%
BB/Ba
1.9%
B
0.1%
CCC & Below
0.0%
Unrated
1.0%
Cash & equivalents
4
4.5%
% of net assets as of 1/31/2025 (updated monthly)

Average Life Breakdown

0-4.9 Years
44.1%
5-9.9 Years
40.8%
10-19.9 Years
6.3%
20-29.9 Years
4.5%
30+ Years
0.3%
% of net assets as of 12/31/2024 (updated monthly)

Holdings

Bonds Breakdown

Bond Details

Total bond holdings
U.S. Treasury bonds & notes 23.0%
Asset-backed obligations 7.4%
Non-U.S. government/agency securities 1.0%
General obligation bonds 0.3%
Revenue bonds 0.1%

% of net assets as of 12/31/2024 (updated quarterly)

Top Fixed-Income Issuers
12

U.S. Treasury
23.3%
Fannie Mae
13.2%
Federal Home Loan Mortgage
12.9%
UMBS
3.9%
Ginnie Mae II
1.9%
Mexico (United Mexican States) (Government)
1.4%
PG&E
1.1%
Ford Motor
1.1%
UBS Group AG
0.6%
Deutsche Bank
0.6%

% of net assets as of 1/31/2025 (updated monthly)

Geographic Breakdown

United States
86.4%
Europe
4.7%
Asia & Pacific Basin
1.3%
Other (Including Canada & Latin America)
3.2%
Cash & equivalents
4
4.4%
% of net assets as of 1/31/2025 (updated monthly)

Prices & Distributions

Internal Prompt

Historical Prices Month-End

Historical Prices Year-End

Internal Prompt

Historical Distributions as of 02/19/25

2025
Record
Date
Calculated
Date
Pay Date
Income Dividend Regular
Income Dividend Special
Cap. Gains Long-Term
Cap. Gains Short-Term
Reinvest NAV
Daily 01/31/25 02/03/25 $0.0394922 $0.00 $0.00 $0.00 $11.16
2025 Year-to-Date: Dividends Subtotal: $0.03949223 Cap Gains Subtotal: $0.00
Total Distributions: $0.03949223

Fees & Expenses

Internal Prompt

Fees

Annual Management Fees 0.20%
Other Expenses 0.17%
Service 12b-1 0.25%
As of each fund's most recent prospectus.
Internal Prompt

Expense Ratio
3

ABNDX 0.62%
Lipper Core Bond Funds Average
13
0.75%
Fund as of most recent prospectus. Lipper Category as of 12/31/24 (updated quarterly).