Investment Fund

Share Class
Purchase Restrictions: Class 529-E share funds are available only for employer-sponsored CollegeAmerica accounts.

Summary

Internal Prompt
Inflation protection and income. By primarily investing in inflation-linked securities, this strategy is focused on protecting purchasing power. It seeks to add value by actively managing duration, curve and inflation exposures, while maintaining only a modest allocation to non-U.S. government bonds and certain corporate issues.
Price at NAV $8.92 as of 4/15/2024 (updated daily)
Fund Assets (millions) $13,543.3
Portfolio Managers
2
Expense Ratio
(Gross/Net %)
0.89 / 0.89%
Prospectus (PDF)

Internal Prompt

Returns at NAV

Returns with Sales Charge

Asset Mix

U.S. Equities0.0%
Non-U.S. Equities0.0%
U.S. Bonds93.5%
Non-U.S. Bonds2.2%
Cash & Equivalents
4.3%
As of 3/31/2024 (updated monthly)

Growth of 10K

Read important investment disclosures

High & Low Prices

Fund Statistics

4.1 years
Effective Duration
4.2%
Average Yield
to Worst
0.5%
Average Coupon
% of net assets as of 3/31/2024 (updated monthly)

Morningstar Style BoxTM— Fixed-Income

High Quality
Limited Interest-Rate Sensitivity
Morningstar data as of 12/31/23 (updated quarterly)

Description

Fund Objective
The fund's investment objective is to provide inflation protection and income consistent with investment in inflation linked securities.
Distinguishing Characteristics
By primarily investing in inflation-linked securities, this strategy is focused on protecting purchasing power. The strategy seeks to add value by actively managing duration, yield curve and exposure to inflation, while maintaining only a modest allocation to non-U.S. government bonds and certain corporate issues.
Portfolio Restrictions
At least 80% of the fund's assets will be invested in inflation-linked bonds issued by governments, their agencies or instrumentalities, and corporations. Further, at lease 80% of the fund's assets will be invested in securities guaranteed or sponsored by the U.S. government. To the extent the fund invests in debt securities not guaranteed or sponsored by the U.S. government, the fund will invest in debt securities with quality ratings of Baa3 or better or BBB- or better.

Fund Facts

Fund Inception 12/14/2012
Fund Assets (millions)
As of 2/29/2024
 $13,543.3
Companies/Issuers
Holdings are as of 3/31/2024 (updated monthly).
 94+
Shareholder Accounts
Shareholder accounts are as of 3/31/2024
 151
Regular Dividends Paid
Dec
Minimum Initial Investment $250
Capital Gains Paid
Dec
Portfolio Turnover (2023) 8%
Fiscal Year-End Nov
Prospectus Date 02/01/2024
CUSIP 02630D 88 1
Fund Number 1560

Returns

Internal Prompt

Month-End Returns as of 3/31/24

Returns at NAV
| With Sales Charge
Read important investment disclosures
CNLEX
Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) Index
ANNUAL RETURNS CHART

Quarter-End Returns as of 3/31/24

Internal Prompt

Volatility & Return

Read important investment disclosures

Fixed-Income

For Class 529-E Shares, this chart tracks the 10-year standard deviation
and 10-year annualized return of the fixed income funds
CNLEX
Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) Index
Other AF Funds
Standard Deviation as of 03/31/2024 (updated monthly) . Annualized return as of 03/31/2024 (updated monthly) .
VIEW LARGER CHART
Internal Prompt

Yield

12-month
Distribution Rates
30-day SEC Yield
Fund at NAV 0.52% 7.22%
Fund at MOP N/A N/A
As of 3/31/2024 (updated monthly)

Portfolio Management

Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
Timothy Ng 5 10 17
Ritchie Tuazon 10 13 24
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


Overall Morningstar RatingTM
Funds rated(203)
3-yr. Morningstar RatingTM
(203 funds rated)
5-yr. Morningstar RatingTM
(195 funds rated)
10-yr. Morningstar RatingTM
(139 funds rated)
Overall Morningstar Risk Average
HIGH
LOW
Category
Inflation-Protected Bond
ADVANTAGES AND DISADVANTAGES OF MORNINGSTAR RATINGS
Ratings are based on risk-adjusted returns as of 3/31/2024 (updated monthly).

Risk Measures

Fund
Standard Deviation
5.04
Sharpe Ratio
0.06
For the 10 Years ending 3/31/24 (updated monthly).
American Funds
Benchmark
Morningstar
Benchmark
Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) Index
Bloomberg US Agg Bond TR USD
R-squared
93 65
Beta
0.97 0.86
Capture Ratio (Downside/Upside)
98/92 82/88
American Funds Benchmark for the 10 Years ending 3/31/24 (updated monthly).
Morningstar Benchmark for the 10 Years ending 3/31/24 (updated monthly).
U.S. Treasuries/Agencies
88.6%
AAA/Aaa
0.7%
AA/Aa
1.1%
A
2.4%
BBB/Baa
2.3%
Unrated
0.5%
Cash & equivalents
4.3%
% of net assets as of 3/31/2024 (updated monthly)

Average Life Breakdown

0-4.9 Years
44.0%
5-9.9 Years
34.4%
10-19.9 Years
3.3%
20-29.9 Years
14.0%
30+ Years
--
% of net assets as of 3/31/2024 (updated monthly)

Holdings

Bonds Breakdown

Bond Details

Total bond holdings
 U.S. Treasury bonds & notes 88.5%
Non-U.S. government/agency securities 1.3%
Asset-backed obligations 1.2%
Mortgage-backed obligations 0.2%

% of net assets as of 3/31/2024 (updated quarterly)

Top Fixed-Income Issuers

U.S. Treasury
88.6%
Mexico (United Mexican States) (Government)
0.5%
AbbVie
0.3%
Amgen
0.2%
Qatar Central Bank
0.2%

% of net assets as of 3/31/2024 (updated quarterly)

Geographic Breakdown

Regions
United States
93.5%
Europe
0.6%
Asia & Pacific Basin
0.6%
Other (Including Canada & Latin America)
1.0%
Cash & equivalents
4.3%
% of net assets as of 3/31/2024 (updated monthly)

Prices & Distributions

Internal Prompt

Historical Prices Month-End

2024

Historical Prices Year-End

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Historical Distributions as of 01/25/24

FIND HISTORICAL DISTRIBUTIONS
2023
Record
Date		 Calculated
Date		 Pay Date
Income Dividend Regular
Income Dividend Special
Cap. Gains Long-Term
Cap. Gains Short-Term
Reinvest NAV
12/18/23 12/18/23 12/19/23 $0.0466 $0.00 $0.00 $0.00 $9.07
2023 Year-to-Date: Dividends Subtotal: $0.0466 Cap Gains Subtotal: $0.00
Total Distributions: $0.0466

Fees & Expenses

Internal Prompt

Fees

Annual Management Fees 0.25%
Other Expenses 0.14%
Service 12b-1 0.50%
As of each fund's most recent prospectus.
Internal Prompt

Expense Ratio

CNLEX 0.89%
Lipper Inflation Protected Bond Funds Average
0.65%
Fund as of most recent prospectus. Lipper Category as of 3/31/24 (updated quarterly).

Resources

Prospectuses & Reports for CNLEX