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

Summary

Internal Prompt
A differentiated approach to core plus investing. This fund seeks higher returns than core bond funds with generally low equity correlation. It aims to drive returns primarily through interest rate, yield curve and inflation positioning, generally resulting in liquid investments with high credit quality. Flexibility to invest in extended bond sectors on an opportunistic basis.
Price at NAV $9.00 as of 1/21/2025 (updated daily)
Fund Assets (millions) $19,096.7
Portfolio Managers
1
4
Expense Ratio
(Gross/Net %)
2
0.40 / 0.40%
Internal Prompt

Returns at NAV
3

Returns with Sales Charge
3

Asset Mix

U.S. Equities0.1%
Non-U.S. Equities0.0%
U.S. Bonds84.4%
Non-U.S. Bonds13.0%
Cash & Equivalents
4
2.5%
As of 12/31/2024 (updated monthly)

Growth of 10K
3

High & Low Prices

Fund Statistics

8.2 years
Effective Duration
4.8%
Average Yield
to Worst
3.2%
Average Coupon
% of net assets as of 12/31/2024 (updated monthly)

Morningstar Style BoxTM— Fixed-Income
5

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

Description

Fund Objective
The fund’s investment objective is to provide maximum total return consistent with preservation of capital.
Distinguishing Characteristics
This differentiated core plus fund seeks higher returns than core bond funds while maintaining a low equity correlation. This fund aims to drive returns primarily through interest rate, yield curve and inflation positioning, generally resulting in liquid investments with high credit quality. With the flexibility to hold a broad range of debt securities, it can invest in emerging markets, high-yield bonds and non-U.S. dollar markets on an opportunistic basis.
Types of Investments
Government debt and agency bonds, corporate bonds, mortgage- and asset-backed securities, emerging markets debt, non-U.S., municipals and high-yield.
Maturity
The bond maturities that the fund targets will vary depending on the current strategy being implemented.
Portfolio Restrictions
The fund may invest no more than 35% of its assets in securities rated below investment grade (BB+/Ba1 and below, or unrated, but determined by the fund’s investment adviser to be of equivalent quality) at the time of purchase, including high-yield corporate bonds or those issued by developing country governments and companies. The fund may invest up to 10% of its assets in equity securities and certain securities with a combination of debt and equity characteristics. The fund may invest up to 35% of its assets in securities denominated in currencies other than the U.S. dollar. The fund may invest up to 35% of its assets in securities of emerging market issuers.

Fund Facts

Fund Inception 3/18/2016
Fund Assets (millions)
As of 12/31/2024
$19,096.7
Companies/Issuers
Holdings are as of 12/31/2024 (updated monthly).
871+
Shareholder Accounts
Shareholder accounts are as of 12/31/2024
2,593
Regular Dividends Paid
6
Mar, Jun, Sep, Dec
Minimum Initial Investment $250
Capital Gains Paid
6
Jun, Dec
Portfolio Turnover (2023) 542%
Fiscal Year-End Dec
Prospectus Date 03/01/2024
CUSIP 02631E 748
Fund Number 16112

Returns

Internal Prompt

Month-End Returns as of 12/31/24

Quarter-End Returns as of 12/31/24

Internal Prompt

Volatility & Return

Read important investment disclosures

Volatility & Return chart is not available for funds less than 10 years old.

Internal Prompt

Yield

12-month
Distribution Rates
8
30-day SEC Yield
Fund at NAV 3.39% 5.37%
Fund at MOP N/A N/A
As of 12/31/2024 (updated monthly)

Portfolio Management
1

Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
Xavier Goss 3 4 21
Damien J. McCann 9 25
Timothy Ng 2 11 18
Ritchie Tuazon 9 14 25
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
9


Overall Morningstar RatingTM
Funds rated(535)
3-yr. Morningstar RatingTM
(535 funds rated)
5-yr. Morningstar RatingTM
(480 funds rated)
10-yr. Morningstar RatingTM
(-- funds rated)
--
Overall Morningstar Risk Above Average
HIGH
LOW
Category Intermediate Core-Plus Bond
Ratings are based on risk-adjusted returns as of 12/31/2024 (updated monthly).

Risk Measures

Fund
Standard Deviation
10
7.19
Sharpe Ratio
10
-0.21
For the 5 Years ending 12/31/24 (updated monthly).
American Funds/
Morningstar Benchmark
10
Bloomberg US Agg Bond TR USD
R-squared 86
Beta 1.06
Capture Ratio (Downside/Upside) 98/111
American Funds and Morningstar Benchmark for the 5 Years ending 12/31/24 (updated monthly).
U.S. Treasuries/Agencies
12.4%
AAA/Aaa
36.3%
AA/Aa
5.4%
A
14.1%
BBB/Baa
13.1%
BB/Ba
7.3%
B
3.8%
CCC & Below
0.8%
Unrated
4.1%
Cash & equivalents
4
4.9%
% of net assets as of 12/31/2024 (updated monthly)

Average Life Breakdown

0-4.9 Years
25.5%
5-9.9 Years
51.2%
10-19.9 Years
7.4%
20-29.9 Years
12.4%
30+ Years
0.9%
% of net assets as of 12/31/2024 (updated monthly)

Holdings

Bonds Breakdown

Bond Details

Total bond holdings
U.S. Treasury bonds & notes 12.3%
Asset-backed obligations 5.4%
Non-U.S. government/agency securities 5.2%
General obligation bonds 0.1%

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

Top Fixed-Income Issuers
11

Fannie Mae
16.8%
U.S. Treasury
12.5%
Federal Home Loan Mortgage
10.9%
UMBS
2.2%
Ginnie Mae II
1.5%
Japan, Government of
1.1%
Brazil, Federal Government of
0.9%
PG&E
0.8%
Colombia, Republic of
0.7%
Amgen
0.7%

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

Geographic Breakdown

United States
84.4%
Europe
4.1%
Asia & Pacific Basin
1.9%
Other (Including Canada & Latin America)
7.1%
Cash & equivalents
4
2.5%
% of net assets as of 12/31/2024 (updated monthly)

Prices & Distributions

Internal Prompt

Historical Prices Month-End

Historical Prices Year-End

Internal Prompt

Historical Distributions as of 01/21/25

2024
Record
Date
Calculated
Date
Pay Date
Income Dividend Regular
Income Dividend Special
Cap. Gains Long-Term
Cap. Gains Short-Term
Reinvest NAV
03/15/24 03/15/24 03/18/24 $0.077 $0.00 $0.00 $0.00 $8.98
06/14/24 06/14/24 06/17/24 $0.0768 $0.00 $0.00 $0.00 $9.04
09/20/24 09/20/24 09/23/24 $0.0722 $0.00 $0.00 $0.00 $9.46
12/18/24 12/18/24 12/19/24 $0.0774 $0.00 $0.00 $0.00 $8.95
2024 Year-to-Date: Dividends Subtotal: $0.3034 Cap Gains Subtotal: $0.00
Total Distributions: $0.3034

Fees & Expenses

Internal Prompt

Fees

Annual Management Fees 0.27%
Other Expenses 0.13%
Service 12b-1 --
As of each fund's most recent prospectus.
Internal Prompt

Expense Ratio
2

FSBMX 0.40%
Lipper Core Plus Bond Funds Average
12
--%
Fund as of most recent prospectus. Lipper Category as of -- (updated quarterly).