Fixed Income / Credit
American High-Income Trust®
A well-researched approach to high-yield investing. Invests in a diversified portfolio of lower rated, higher yielding bonds with a focus on income and the potential for capital appreciation. The high-yield investment team benefits from the extensive research capabilities of Capital’s equity and macroeconomic analysts.
Overview
Key information
Objective
The fund's primary investment objective is to provide you with a high level of current income. Its secondary investment objective is capital appreciation.
Types of investments
At least 80% of the portfolio will be invested in high-yield, lower rated bonds (BB+/Ba1 or below at the time of purchase) and other similar securities.
Distinguishing characteristics
The strategy invests in a diversified portfolio of lower rated, higher yielding bonds with a focus on income and the potential for capital appreciation. A dedicated team of analysts, traders and portfolio managers collaborate to achieve a comprehensive understanding of a company’s financial position and capital structure via fundamental bottom-up analysis. The high-yield investment team benefits from the extensive research capabilities across Capital’s equity and macroeconomic analysts.
Holdings outside the U.S.
A portion of the portfolio's assets may be invested in securities of issuers outside the U.S., which may be denominated in currencies other than the U.S. dollar.
Maturity
Typically, the fund will be invested in intermediate- to long-term securities.
Key facts
Fund inception
2/19/88
Fund assets (millions)
$26,451.1
As of 11/30/25 (updated monthly)
Companies/issuers
439
Holdings of 11/30/25 (updated monthly)
Regular dividends paid
Monthly
Capital gains paid
Dec.
Portfolio turnover (%) tooltip: FC_PT definition not found.
40
Fiscal year-end
September
Prospectus date
12/1/25
CUSIP
026547 85 1
Fund number
2321
Portfolio managers
Portfolio managers years of experience are as of the previous calendar year end.
Tom Chow
36 years of investment industry experience
10 years with Capital Group
10 years managing fund
David Daigle
Principal Investment Officer
30 years of investment industry experience
30 years with Capital Group
21 years managing fund
Andy Moth
21 years of investment industry experience
8 years with Capital Group
4 years managing fund
Shannon Ward
32 years of investment industry experience
8 years with Capital Group
7 years managing fund
Returns
Investment results
Total returns for periods ended 11/30/25 (%)
- ●RITCX
- ●Index
| Fund | Daily YTD | 1M | 3M | YTD | 1Y | 3Y | 5Y | 7Y | 10Y | 15Y | 20Y | Lifetime |
|---|
Index data refers to the Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index tooltip: 76043 definition not found..
Daily YTD as of 12/22/25.
Fund inception: 2/19/88. Index lifetime is based on inception date of the fund.
Returns greater than one year are annualized.
Volatility & returns
As of 11/30/25 (updated monthly)
- ●RITCX
- ▲Other CG funds
- ■Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index tooltip: 76043 definition not found.
Risk measures
As of 11/30/25 (updated monthly)
| Standard deviation tooltip: SDF definition not found. | |
| RITCX | 4.67 |
| Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index tooltip: 76043 definition not found. | 4.81 |
| Sharpe ratio tooltip: SRAT definition not found. | |
| RITCX | 0.88 |
| Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index tooltip: 76043 definition not found. | 0.93 |
| R-squared tooltip: RSQ_AFR definition not found. | 73 |
| Alpha tooltip: Alpha definition not found. | 4.25 |
| Beta tooltip: BETA_AF definition not found. | 0.65 |
| Information ratio tooltip: informationRatio definition not found. | 1.45 |
| Downside capture ratio tooltip: DCAPRAT definition not found. | 8 |
| Upside capture ratio tooltip: UCAPRAT definition not found. | 87 |
| Tracking error tooltip: TRKERR definition not found. | 3.23 |
| S&P 500 correlation tooltip: indexCorrelation definition not found. | 0.79 |
| MSCI ACWI correlation tooltip: indexCorrelation definition not found. | 0.86 |
Data calculated against the Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index tooltip: 76043 definition not found.unless noted otherwise.
Prices & distributions
As of 12/22/25
- Price at nav ($)
- Price change ($)
- Price change (%)
| YTD dividends subtotal ($) | 0.54381805 |
| YTD cap gains subtotal ($) | 0.00 |
| YTD total distributions ($) | 0.54381805 |
Yield
As of 11/30/25 (updated monthly)
| 12-month distribution rates (at NAV, %) tooltip: DBR definition not found. | 5.99 |
| 30-day SEC yield (gross/net %) tooltip: SECYield definition not found. | 5.04 / 5.04 |
Ratings are based on risk-adjusted returns.
Portfolio Composition
Asset mix
As of 11/30/25 (updated monthly, %)
U.S. Equities | 3.7 |
|---|---|
Non-U.S. Equities | 0.4 |
U.S. Bonds | 76.6 |
Non-U.S. Bonds | 10.6 |
Cash, Equivalents & Other | 8.7 |
U.S. Equities | 3.7 |
|---|---|
Non-U.S. Equities | 0.4 |
U.S Bonds | 76.6 |
Non-U.S. Bonds | 10.6 |
Cash, Equivalents & Other | 8.7 |
Key statistics
% of net assets as of 11/30/25 (updated monthly)
RITCX | INDEX | |
|---|---|---|
Yield to worst (%) tooltip: BS_YTW definition not found. | 6.1 | 6.6 |
Yield to maturity (%) tooltip: BS_YLDMAT definition not found. | 6.7 | 7.0 |
Average coupon (%) tooltip: AVGCOUP definition not found. | 5.9 | 6.6 |
Effective duration (years) tooltip: BS_ED definition not found. | 2.6 | 2.8 |
Spread duration (years) tooltip: spreadDuration definition not found. | 2.5 | 2.8 |
Option adjusted spread (bps) tooltip: BS_OAS definition not found. | 253.4 | 279 |
Duration times spread (bps) tooltip: durationTimesSpread definition not found. | 747 | 858 |
Index data refers to the Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index tooltip: 76043 definition not found..
Morningstar Style Box™
As of 9/30/25 (updated quarterly)
Top fixed income issuers
As of 10/31/25 (updated monthly)
| RITCX | Index | |
|---|---|---|
| EchoStar | 3.3% | 1.4% |
| Charter Communications | 2.3% | 1.7% |
| Service Properties | 1.9% | 0.3% |
| Ford Motor | 1.6% | — |
| Venture Global Partners II | 1.5% | 1.6% |
| Medical Properties Trust | 1.5% | 0.3% |
| Navient | 1.4% | 0.3% |
| Sirius XM Holdings | 1.4% | 0.5% |
| Viasat | 1.4% | 0.1% |
| Televisaunivision | 1.3% | 0.4% |
Index data refers to the Bloomberg U.S. Corporate High Yield Index, 2% Issuer Cap tooltip: 76043 definition not found..
Portfolio exposures
As of 11/30/25 (updated monthly)
| Market value (%) | |||
|---|---|---|---|
| RITCX | INDEX | ||
| Credit | 87.5 | 100.0 | |
| Treasuries & agencies | 0.0 | — | |
| Other | 4.1 | — | |
| Cash & equivalents | 7.3 | — | |
| CDX tooltip: CDX definition not found.& TRS tooltip: TRS definition not found. Offset | 1.1 | — | |
Index data refers to the Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index tooltip: 76043 definition not found..
Fees & Expenses
Fees
As of the most recent prospectus
Annual management fees (%) | 0.32 |
|---|---|
Other expenses (%) | 0.19 |
Service 12b-1 (%) | 0.50 |
Expense ratio
Values shown as percentages (%).
RITCX (gross/net) | 1.01/1.01 |
|---|---|
Morningstar High-Yield Bond Retirement, Medium median As of 9/30/25 (updated quarterly) | 1.17 |
Resources
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EXPLORE RESOURCESTotals may not reconcile due to rounding.