Investment Fund

Notice The Portfolio Solutions Committee reallocated this product as of September 28, 2023. Learn more

Summary

Internal Prompt
Focuses on tax-exempt income. With exposure to a diverse mix of stocks from dividend-paying companies and tax-exempt, fixed-income securities, seeks to help investors pursue current income, a portion of which is exempt from regular federal income tax, and long-term growth potential.
Price at NAV $15.78 as of 5/07/2025 (updated daily)
Fund Assets (millions) $5,311.6
Portfolio Solutions Committee Members
7
Expense Ratio
(Gross/Net %)
0.64 / 0.64%
Prospectus

Asset Mix

U.S. Equities35.7%
Non-U.S. Equities13.0%
U.S. Bonds45.9%
Non-U.S. Bonds0.2%
Cash & Equivalents
5.2%
As of 3/31/2025 (updated monthly)

Fund Statistics

6.2 years
Effective Duration
4.6%
Average Yield
to Maturity
4.6%
Average Coupon
% of net assets as of 3/31/2025 (updated monthly)

Growth of 10K

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For Class A Shares, this chart tracks a hypothetical investment with dividends reinvested, over the last 20 years, or since inception date if the fund has been in existence under 20 years, through 12/31/2024.
TAIAX
S&P 500 Index
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High & Low Prices

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Returns at NAV

Returns with Sales Charge

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3.74%
1-year return
7.10%
5-year return
5.75%
10-year return
2.32%
30-Day SEC Yield
Returns as of 4/30/25 (updated monthly). Yield as of 3/31/25 (updated monthly).

Description

Fund Objective
The fund's investment objective is to provide current income, a portion of which is exempt from regular federal income tax, while secondarily striving for long-term growth of capital.
Distinguishing Characteristics
The fund will attempt to achieve its investment objectives by investing in a mix of American Funds and Capital Group ETFs in different combinations and weightings.
Types of Investments
The underlying funds may represent a variety of fund categories such as tax-exempt bond funds and growth-and-income funds.

Fund Facts

Fund Inception 5/18/2012
Fund Assets (millions)
As of 3/31/2025
 $5,311.6
Companies/Issuers
Holdings are as of 3/31/2025 (updated monthly).
 2244+
Shareholder Accounts
Shareholder accounts are as of 3/31/2025
 43,852
Regular Dividends Paid
Mar, Jun, Sep, Dec
Minimum Initial Investment $250
Capital Gains Paid
Dec
Portfolio Turnover (2024) 40%
Fiscal Year-End Oct
Prospectus Date 01/01/2025
CUSIP 02630Y 62 0
Fund Number 46

Returns

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Month-End Returns as of 4/30/25

Returns at NAV
| With Sales Charge
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TAIAX
S&P 500 Index
ANNUAL RETURNS CHART

Quarter-End Returns as of 3/31/25

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Volatility & Return

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Equities

For Class A Shares, this chart tracks the 10-year standard deviation
and 10-year annualized return of the equity funds
TAIAX
S&P 500 Index
Other AF Funds
Standard Deviation as of 04/30/2025 (updated monthly) . Annualized return as of 04/30/2025 (updated monthly) .
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Yield

12-month
Distribution Rates
30-day SEC Yield
Fund at NAV 2.35% N/A
Fund at MOP 2.26% 2.32%
As of 3/31/2025 (updated monthly)

Valuation

Price/ Price/ Price/
Book
Cash Flow
Earnings
Fund 3.16 13.16 18.00
S&P 500 Index
4.10 14.10 20.90
Fund as of 3/31/25. Index as of 3/31/25.

Portfolio Solutions Committee

Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
Michelle J. Black 5 23 30
Brittain Ezzes 1 3 27
Samir Mathur 5 12 32
Damien J. McCann 13 25
Wesley K. Phoa 12 26 32
John R. Queen 5 23 35
Andrew B. Suzman 12 31
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(216)
3-yr. Morningstar RatingTM
(216 funds rated)
5-yr. Morningstar RatingTM
(201 funds rated)
10-yr. Morningstar RatingTM
(148 funds rated)
Overall Morningstar Risk Average
HIGH
LOW
Category
Moderately Conservative Allocation
ADVANTAGES AND DISADVANTAGES OF MORNINGSTAR RATINGS
Ratings are based on risk-adjusted returns as of 4/30/2025 (updated monthly).

Risk Measures

Fund
Standard Deviation
8.20
Sharpe Ratio
0.53
For the 10 Years ending 4/30/25 (updated monthly).
American Funds
Benchmark
Morningstar
Benchmark
S&P 500 Index
Morningstar Mod Tgt Risk TR USD
R-squared
85 95
Beta
0.49 0.79
Capture Ratio (Downside/Upside)
51/51 75/84
American Funds Benchmark for the 10 Years ending 3/31/25 (updated monthly).
Morningstar Benchmark for the 10 Years ending 4/30/25 (updated monthly).
AAA/Aaa
4.8%
AA/Aa
10.9%
A
8.1%
BBB/Baa
5.4%
BB/Ba
3.7%
B
0.5%
CCC & Below
0.1%
Unrated
12.5%
Cash & equivalents
5.2%
% of net assets as of 3/31/2025 (updated monthly)

Average Life Breakdown

0-4.9 Years
15.6%
5-9.9 Years
16.3%
10-19.9 Years
8.1%
20-29.9 Years
5.2%
30+ Years
0.9%
% of net assets as of 3/31/2025 (updated monthly)

Holdings

Equities Breakdown

Sectors | Top Industries
Equity Fund Holdings
 Industrials 8.8%
Information technology 8.1%
Health care 7.0%
Financials 6.8%
Consumer staples 4.2%
Consumer discretionary 3.8%
Communication services 2.8%
Materials 2.2%
Energy 1.9%
Utilities 1.8%
Real estate 1.3%

% of net assets as of 3/31/2025 (updated monthly)

Bonds Breakdown

Geographic Breakdown

Regions | Top States
United States
81.6%
Europe
8.2%
Asia & Pacific Basin
3.1%
Other (Including Canada & Latin America)
1.9%
Cash & equivalents
5.2%
% of net assets as of 3/31/2025 (updated monthly)

Prices & Distributions

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Historical Prices Month-End

2025

Historical Prices Year-End

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Historical Distributions as of 05/07/25

FIND HISTORICAL DISTRIBUTIONS
2025
Record
Date		 Calculated
Date		 Pay Date
Income Dividend Regular
Income Dividend Special
Cap. Gains Long-Term
Cap. Gains Short-Term
Reinvest NAV
03/26/25 03/26/25 03/27/25 $0.0628 $0.00 $0.00 $0.00 $15.85
2025 Year-to-Date: Dividends Subtotal: $0.0628 Cap Gains Subtotal: $0.00
Total Distributions: $0.0628

Fees & Expenses

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Fees

Annual Management Fees 0.00%
Other Expenses 0.04%
Acquired (Underlying) Fund Fees and Expenses 0.32%
Service 12b-1 0.28%
As of each fund's most recent prospectus.
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Expense Ratio

TAIAX 0.64%
Lipper Mixed-Asset Target Allocation Moderate Funds Average
1.12%
Fund as of most recent prospectus. Lipper Category as of 3/31/25 (updated quarterly).