Purchase Restrictions: Class R-1 shares are available in certain employer-sponsored retirement plans. See the prospectus for details.

Summary

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Price at NAV $21.18 as of 1/22/2025 (updated daily)
Fund Assets (millions) $38,001.2
Target Date Solutions Committee Members
1
8
Expense Ratio
(Gross/Net %)
2
1.46 / 1.46%

Asset Mix
3

U.S. Equities62.5%
Non-U.S. Equities23.7%
U.S. Bonds8.7%
Non-U.S. Bonds1.8%
Cash & Equivalents
4
3.3%
As of 12/31/2024 (updated monthly)

Fund Statistics

6.3 years
Effective Duration
5.7%
Average Yield
to Worst
4.5%
Average Coupon
% of net assets as of 12/31/2024 (updated monthly)

Growth of 10K
5

High & Low Prices

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Returns at NAV

Returns with Sales Charge

Description

Fund Objective
Depending on the proximity to its target date, which we define as the year that corresponds roughly to the year in which the investor expects to retire, the fund will seek to achieve the following objectives to varying degrees: growth, income and conservation of capital. The fund will increasingly emphasize income and conservation of capital by investing a greater portion of its assets in fixed income, equity-income and balanced funds as it approaches and passes its target date. In this way, the fund seeks to balance total return and stability over time.

Fund Facts

Fund Inception 2/01/2007
Fund Assets (millions)
As of 12/31/2024
$38,001.2
Companies/Issuers
Holdings are as of 12/31/2024 (updated monthly).
2991+
Shareholder Accounts
Shareholder accounts are as of 12/31/2024
392
Regular Dividends Paid
6
Dec
Minimum Initial Investment $0
Capital Gains Paid
6
Dec
Portfolio Turnover (2024) 5%
Fiscal Year-End Oct
Prospectus Date 01/01/2025
CUSIP 02630T 49 8
Fund Number 2168

Returns

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Month-End Returns as of 12/31/24

Quarter-End Returns as of 12/31/24

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Volatility & Return

Read important investment disclosures

Equities

For Class R-1 Shares, this chart tracks the 10-year standard deviation
8
and 10-year annualized return of the equity funds
RAHTX
S&P Target Date 2045 Index
Other AF Funds
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Prices and returns will vary, so investors may lose money. View .

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.

Smaller company stocks entail additional risks, and they can fluctuate in price more than larger company stocks.

Allocations may not achieve investment objectives. The portfolios' risks are related to the risks of the underlying funds as described herein, in proportion to their allocations.

Although the target date portfolios are managed for investors on a projected retirement date time frame, the allocation strategy does not guarantee that investors' retirement goals will be met. Investment professionals manage the portfolio, moving it from a more growth-oriented strategy to a more income-oriented focus as the target date gets closer. The target date is the year that corresponds roughly to the year in which an investor is assumed to retire and begin taking withdrawals. Investment professionals continue to manage each portfolio for approximately 30 years after it reaches its target date.

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.

  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 12/31/2024 (updated monthly) . Annualized return as of 12/31/2024 (updated monthly) .
VIEW LARGER CHART
Internal Prompt

Yield

12-month
Distribution Rates
9
30-day SEC Yield
Fund at NAV 0.45% 0.51%
Fund at MOP N/A N/A
As of 12/31/2024 (updated monthly)

Valuation

Price/ Price/ Price/
Book Cash Flow Earnings
Fund 3.47 12.37 18.90
S&P Target Date 2045 Index
-- -- --
Fund as of 12/31/24. Index as of --.

Target Date Solutions Committee
1

Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
Michelle J. Black 5 23 30
David A. Hoag 5 33 37
Samir Mathur 5 12 32
Raj Paramaguru 1 12 20
Wesley K. Phoa 12 26 32
William L. Robbins 1 30 33
Jessica C. Spaly 2 21 26
Shannon Ward 4 8 32
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
10


Overall Morningstar RatingTM
Funds rated(189)
3-yr. Morningstar RatingTM
(189 funds rated)
5-yr. Morningstar RatingTM
(165 funds rated)
10-yr. Morningstar RatingTM
(112 funds rated)
Overall Morningstar Risk Below Average
HIGH
LOW
Category Target-Date 2045
Ratings are based on risk-adjusted returns as of 12/31/2024 (updated monthly).

Risk Measures

Fund
Standard Deviation
8
13.10
Sharpe Ratio
8
0.54
For the 10 Years ending 12/31/24 (updated monthly).
American Funds
Benchmark
11
Morningstar
Benchmark
8
S&P Target Date 2045 Index
Morningstar Mod Tgt Risk TR USD
R-squared 98 96
Beta 0.97 1.27
Capture Ratio (Downside/Upside) 99/99 129/132
American Funds Benchmark for the 10 Years ending 12/31/24 (updated monthly).
Morningstar Benchmark for the 10 Years ending 12/31/24 (updated monthly).
U.S. Treasuries/Agencies
2.9%
AAA/Aaa
4.4%
AA/Aa
0.3%
A
0.9%
BBB/Baa
1.0%
BB/Ba
0.6%
B
0.2%
CCC & Below
0.1%
Unrated
0.1%
Cash & equivalents
4
3.2%
% of net assets as of 12/31/2024 (updated monthly)

Average Life Breakdown

0-4.9 Years
4.7%
5-9.9 Years
4.4%
10-19.9 Years
0.8%
20-29.9 Years
0.6%
30+ Years
0.0%
% of net assets as of 12/31/2024 (updated monthly)

Holdings
3

Equities Breakdown

Equity Fund Holdings
Information technology 20.3%
Industrials 12.4%
Financials 12.2%
Health care 10.7%
Consumer discretionary 9.8%
Communication services 7.1%
Consumer staples 4.8%
Energy 2.8%
Materials 2.8%
Utilities 2.0%
Real estate 1.3%

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

Geographic Breakdown

United States
71.2%
Europe
11.8%
Asia & Pacific Basin
9.2%
Other (Including Canada & Latin America)
4.6%
Cash & equivalents
4
3.3%
% of net assets as of 12/31/2024 (updated monthly)

Prices & Distributions

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Historical Prices Month-End

Historical Prices Year-End

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Historical Distributions as of 01/22/25

2024
Record
Date
Calculated
Date
Pay Date
Income Dividend Regular
Income Dividend Special
Cap. Gains Long-Term
Cap. Gains Short-Term
Reinvest NAV
12/26/24 12/26/24 12/27/24 $0.0951 $0.00 $0.4614 $0.00 $20.83
2024 Year-to-Date: Dividends Subtotal: $0.0951 Cap Gains Subtotal: $0.4614
Total Distributions: $0.5565

Fees & Expenses

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Fees

Annual Management Fees 0.00%
Other Expenses 0.10%
Acquired (Underlying) Fund Fees and Expenses 0.36%
Service 12b-1 1.00%
As of each fund's most recent prospectus.
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Expense Ratio
2

RAHTX 1.46%
Lipper Mixed-Asset Target 2045 Funds Average
12
--%
Fund as of most recent prospectus. Lipper Category as of -- (updated quarterly).