American Funds®

COLLEGE TARGET DATE FUNDS

SM

Share Class

Summary

Price at NAV $9.94
as of 02/25/2015 (updated daily)
Fund Assets (millions) $83.8 Portfolio Oversight
Committee Members 7
Expense Ratio 0.94% Prospectus (PDF)

Asset Mix

No data is available at this time.

Fund Statistics

No data is available at this time.
For Class A Shares, this chart tracks a hypothetical investment with dividends reinvested.
CENAX

Description

Fund Objective
The fund's investment objective is to provide current income, consistent with preservation of capital.

Fund Facts

Fund Inception 09/14/2012
Fund Assets (millions)
As of 1/31/2015 (updated monthly).
$83.8
Shareholder Accounts
Shareholder accounts are as of 1/31/2015 (updated monthly).
1,990
Regular Dividends Paid Dec
Minimum Initial Investment $250
Capital Gains Paid Dec
Portfolio Turnover (2014) 13%
Fiscal Year-End Oct
Prospectus Date 01/01/2015
CUSIP 02629M 64 5
Fund Number 1088

Returns

Returns at NAV | With Sales Charge
CENAX
Barclays Intermediate U.S. Aggregate Index

Volatility & Return


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

Yield

12-month Annualized
Distribution Rates
30-day SEC Yield
Fund at NAV 0.87% N/A
Fund at MOP 0.85% 0.63%
As of 01/31/2015 (updated monthly).

Valuation

Price/ Price/ Price/
Book Cash Flow Earnings
Fund -- -- --
Barclays Intermediate U.S. Aggregate Index -- -- --
Fund as of -- (updated quarterly). Index as of -- (updated quarterly).

Portfolio Oversight Committee

LEARN ABOUT THE CAPITAL SYSTEMSM
Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
Alan N. Berro 29 24 3
Joanna F. Jonsson 26 24 1
James B. Lovelace 33 33 3
Wesley K.-S. Phoa 21 16 3
John H. Smet 33 31 3
Andrew B. Suzman 21 21 3
Bradley J. Vogt 27 27 3
A boldface number indicates that years of experience with Capital Group is equal to years of experience with investment industry.

Ratings & Risk


Overall Morningstar RatingTM
Funds rated (--)
--
3-yr. Morningstar RatingTM
(-- funds rated)
--
5-yr. Morningstar RatingTM
(-- funds rated)
--
10-yr. Morningstar RatingTM
(-- funds rated)
--
Overall Morningstar Risk
--
Category Short-Term Bond
ADVANTAGES AND DISADVANTAGES OF MORNINGSTAR RATINGS
Ratings are based on risk-adjusted returns as of -- (updated monthly).

Risk Measures

For the -- ending 1/31/15 (updated monthly). R-squared, Beta and Capture Ratio calculated using the Barclays US Agg Bond TR USD.

Fund
Standard Deviation --
Sharpe Ratio --
R-squared --
Beta --
Capture Ratio (Downside/Upside) --/--

Holdings

Equities Breakdown

No top sectors data is available at this time.
Go to the underlying fund pages to see detailed holdings information.

Prices & Distributions

FIND HISTORICAL PRICES
2015
2006-2015

2014
Record
Date
Calculated
Date
Pay Date
Income Dividend
Regular
Income Dividend
Special
Cap. Gains
Long-Term
Cap. Gains
Short-Term
Reinvest NAV
12/30/14 12/30/14 12/31/14 $0.0871 $0.00 $0.001 $0.004 $9.88
2014 Year-to-Date:
Dividends Subtotal: $0.0871
Cap Gains Subtotal: $0.005
Total Distributions: $0.0921

Fees & Expenses

Fees

Annual Management Fees 0.10%
Other Expenses 0.27%
Service 12b-1 0.24%
As of each fund's most recent prospectus.

Expense Ratio

Gross Net
Fund 0.94% 0.84%
Lipper Short-Intermediate Investment-Grade Debt Funds Average --%

Resources

Prospectuses & Reports for CENAX

Figures shown are past results and are not predictive of results in future periods. Current and future results may be lower or higher than those shown. Share prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely.

Returns shown at net asset value (NAV) have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

Returns with sales charge for Class 529-A shares reflect payment of the 2.50% maximum sales charge.

View the funds' current expense ratios and month-end results.

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses, summary prospectuses and CollegeAmerica Program Description, which can be obtained from a financial professional and should be read carefully before investing. CollegeAmerica is distributed by American Funds Distributors® and sold through unaffiliated intermediaries.

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

Depending on your state of residence, there may be an in-state plan that offers tax and other benefits not available through CollegeAmerica. Before investing in any state's 529 plan, investors should consult a tax advisor. CollegeAmerica is sponsored by Virginia529℠.

There may have been periods when the fund has lagged the index or indexes. Certain market indexes are unmanaged and, therefore, have no expenses. Investors cannot invest directly in an index.

Funds are actively managed, so holdings will change.

Read details about how waivers and/or reimbursements affect the results for each fund. View results and yields without fee waiver and/or expense reimbursement.

  1. Calculated by Morningstar. Due to differing calculation methods, the figures shown here may differ from those calculated by American Funds.
  2. The months indicated for dividends and capital gains paid represent the anticipated current year ex-dividend date schedule for all share classes.
  3. Expense ratios for funds of funds are as of the most recent prospectus, and include the weighted average expenses of the underlying funds.
  4. Comparable industry expense information is not available for the fund.
  5. For College Target Date Series funds, the investment adviser is currently waiving its management fee of 0.10% through December 31, 2015, without which the results would have been lower and net expense ratio higher. Per the terms for each specific fund and subject to fund board approval, the investment adviser may elect to extend, modify or terminate the waiver. Please see each fund's most recent prospectus for details. 
  6. Excludes certain securities in initial period of acquisition.
  7. For funds of funds, figures are based on holdings of the underlying funds.
  8. Allocation percentages and underlying funds are subject to the Portfolio Oversight Committee's discretion and will evolve over time. Underlying funds may be added or removed at any time.
  9. Lipper ratings for Consistent Return reflect funds’ historical risk-adjusted returns at NAV, adjusted for volatility, relative to peers. Lipper ratings for Expense reflect funds’ expense minimization relative to peers with similar load structures. Lipper ratings for Preservation reflect funds’ historical loss avoidance relative to other funds within the same asset class. Preservation ratings are relative, rather than absolute, measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. Lipper ratings for Tax Efficiency reflect funds’ historical success in postponing taxable distributions relative to peers. Tax Efficiency offers no benefit to investors in tax-sheltered accounts such as 401(k) plans. Lipper ratings for Total Return reflect funds’ historical total return performance relative to peers. The Lipper ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Total Return, Consistent Return, Preservation, Tax Efficiency, and Expense metrics. The highest 20% of funds in each classification are named Lipper Leaders for Total Return, the next 20% receive a rating of 4, the middle 20% are rated 3, the next 20% are rated 2, and the lowest 20% are rated 1. Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperleaders.com. Lipper Leader © 2015, Thomson Reuters, All Rights Reserved.
  10. Morningstar Rating™ for Funds: For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Ratings metrics. Past results are not guarantee of results in future periods. Morningstar Rating is for Class 529-A only; other classes may have different performance characteristics.
  11. The Morningstar Ownership Zone™ provides detail about a portfolio's equity investment style by showing the range of stock sizes and styles. A portfolio's Ownership Zone™ is derived by plotting each stock in the fund's portfolio within the proprietary Morningstar Style Box™. The shaded area represents the center 75% of the fund's assets, and it provides an intuitive visual representation of the area of the market in which the fund invests. A "centroid" plot in the middle of the Ownership Zone represents the weighted average of all the fund's holdings. A fund that is concentrated will have a small ownership zone relative to the area of the style box, and broadly diversified fund will have an ownership zone that stretches across many sizes and style. Over a period of time, the shape and location of a fund's ownership zone may vary.
  12. The portfolio managers shown are as of the fund's most recent prospectus dated  01/01/2015.
  13. YTD (year-to-date return): the net change in the value of the fund's shares (in percentage terms) from January 1, 2014, to the current date shown above.
  14. Investment results assume all distributions are reinvested and reflect applicable fees and expenses. 
  15. The SEC yield reflects the rate at which the fund is earning income on its current portfolio of securities while the distribution rate reflects the fund’s past dividends paid to shareholders. Accordingly, the SEC yield and distribution rate may differ.

If withdrawals from 529 plans are used for purposes other than higher education, the earnings will be subject to a 10% federal tax penalty in addition to federal and, if applicable, state income tax.

©2015 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 the American Funds 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 American Funds.

Investing outside the United States involves risks, such as currency fluctuations, periods of illiquidity and price volatility, as more fully described in the prospectus. These risks may be heightened in connection with investments in developing countries. Diversification does not eliminate the risks of investing; losses are possible in diversified portfolios. Small-company stocks entail additional risks, and they can fluctuate in price more than larger company stocks.

The return of principal for bond funds and for funds with significant underlying bond holdings is not guaranteed. Fund shares are subject to the same interest rate, inflation and credit risks associated with the underlying bond holdings. Lower rated bonds are subject to greater fluctuations in value and risk of loss of income and principal than higher rated bonds. Investments in mortgage-related securities involve additional risks, such as prepayment risk, as more fully described in the prospectus.

For more information about the risks associated with each fund, go to its detailed fund information page or read the prospectus. Investment allocations for funds of funds may not achieve fund objectives. There are expenses associated with the underlying funds in addition to fund-of-funds expenses. The funds' risks are directly related to the risks of the underlying funds, as described herein. Each target date fund is composed of a mix of American Funds and is subject to the risks and returns of the underlying funds. Underlying funds may be added or removed during the year. The target allocations are as of September 14, 2012, the funds' inception date, and are subject to the Portfolio Oversight Committee's discretion. The funds’ investment advisor anticipates that the funds will invest their assets within a range that deviates no more than 10% above or below these allocations. Investment professionals gradually adjust the portfolio over time so that it becomes more preservation-oriented. The funds' allocation strategy does not guarantee that investors' education savings goals will be met. The target date is the year in which the beneficiary is expected to begin taking withdrawals. Investors and their advisors should periodically evaluate their investment to determine whether it continues to meet their needs. Underlying funds may be added or removed during the year.

Terms and Definitions

Historical Long-Term Capital Gains: When a capital gain distribution is paid, the net asset value per share is reduced by the amount of the payment plus or minus any change in the value of the fund's holdings. Read our explanation of the effect of a capital gain on a fund's price for details. Two types of capital gains are realized by our funds — short-term and long-term. Net short-term capital gains are distributed to shareholders as income dividends and are taxed at ordinary income tax rates. Long-term capital gain distributions are taxed at a maximum 15% rate.

Bond Statistic Average Duration in Years: Expressed in years, average duration is a weighted average of the estimated price sensitivity of the bonds in the fund's portfolio to a given change in interest rates. With respect to individual bonds, for example, a duration of 4 years indicates that the price of a bond will rise/fall by approximately 4% if rates in general fall/rise by 1%. Typically, bonds with a longer duration pay higher interest but are more sensitive to interest rate changes.

Bond Statistic Average Life in Years: Expressed in years, average life is time weighting the expected principal payments, taking into consideration the impact of calls and prepayments. In general, it is a better measure than average maturity for bonds that have the ability to prepay principal before they reach maturity (e.g., mortgages, mortgage-backed securities and asset-backed securities). Data shown is a weighted average of the bonds held in the fund's portfolio.

Bond Statistic Average Coupon: The average coupon is the weighted average coupon rate of all the bonds in the fund.

Bond Statistic Average Yield to Maturity: A weighted average of all the fund's bond holding's yield to maturities. Yield to maturity is the return a bond earns if held to maturity, based on its price and coupon. Assumes that coupon payments can be reinvested at the yield to maturity.

Valuation : Price-to-book ratio compares a stock's market value to the value of total assets less total liabilities (book value). Adjusted for stock splits. Price-to-cash-flow (P/C) ratio is the average price to cash flow ratio of the individual stocks within a fund. Price-to-earnings (P/E) ratio takes the current price of a stock divided by its earnings per share. The ratio reflects the cost of a given stock per dollar of current annual earnings and is the most common measure of a stock's expense. The higher the P/E, the more investors are paying, and therefore the more earnings growth they are expecting.

Valuation Price-to-Cash Flow: Price-to-cash-flow (P/C) ratio is the average price to cash flow ratio of the individual stocks within a fund.

Valuation Price-to-Earnings Ratio: Price-to-earnings (P/E) ratio takes the current price of a stock divided by its earnings per share. The ratio reflects the cost of a given stock per dollar of current annual earnings and is the most common measure of a stock's expense. The higher the P/E, the more investors are paying, and therefore the more earnings growth they are expecting.

Morningstar rating : In an effort to classify funds by what they own, as well as by their prospectus objectives and styles, Morningstar developed Morningstar Categories. While the prospectus objective identifies a fund's investment goals based on the wording in the fund prospectus, the Morningstar Category identifies funds based on their actual investment styles as measured by their underlying portfolio holdings (portfolio and other statistics over the past three years).

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.

Sharpe Ratio: Sharpe ratios use standard deviation and excess return to determine reward per unit of risk. The higher the number, the better the portfolio's historical risk-adjusted performance.

R-Squared: R-squared is a measure of the correlation between a particular fund's return and that of its benchmark index. A measure of 100 indicates that all of the fund's return can be explained by movements in its benchmark. Generally the higher the R-squared measure, the more reliable the beta measurement will be. Calculated by Morningstar.

Beta: Beta relatively measures a fund's sensitivity to market movements over a specified period of time. The beta of the market (represented by the benchmark index) is equal to 1; a beta higher than 1 implies that a fund's return was more volatile than the market. A beta lower than 1 suggests that the fund was less volatile than the market. Generally the higher the R-squared measure, the more reliable the beta measurement will be.

Capture Ratio Downside: Capture ratios reflect the annualized product of fund vs. index returns for all months in which the index had a positive return (upside capture) or negative return (downside capture).

Currency Weighting Short Breakdown: The fund's exposure to a specific currency before taking into consideration any forward currency contracts that may increase or decrease that currency's exposure.

Barclays Intermediate U.S. Aggregate: Barclays Intermediate U.S. Aggregate Index represents securities in the intermediate maturity range (1–10 years) of the US investment-grade fixed-rate bond market.