Summary
Internal Prompt
A quality foundation. Invests primarily in securities guaranteed or sponsored by the U.S. government and manages allocations between government and mortgage securities. Seeks to outpace the Treasury and mortgage-backed securities markets while maintaining low correlation to equities and minimal credit risk.
Price at NAV $11.70 as of 5/24/2024 (updated daily)
Fund Assets (millions) $20,573.4
Portfolio Managers 3
Expense Ratio
(Gross/Net %) 0.65 / 0.65%
Prospectus (PDF)
Internal Prompt
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Returns at NAV
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Returns with Sales Charge
Returns at NAV
Returns with Sales Charge
Read important investment disclosures
-7.61%
1-year return
-1.06%
5-year return
0.32%
10-year return
4.46%
30-Day SEC Yield
Returns as of 4/30/24 (updated monthly). Yield as of 4/30/24 (updated monthly).
Asset Mix
| U.S. Equities0.0% | Non-U.S. Equities0.0% | ||
| U.S. Bonds95.4% | Non-U.S. Bonds0.0% | ||
| Cash & Equivalents 4.6% |
| U.S. Equities0.0% | |
| Non-U.S. Equities0.0% | |
| U.S. Bonds95.4% | |
| Non-U.S. Bonds0.0% | |
| Cash & Equivalents 4.6% |
As of 4/30/2024(updated monthly)
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Growth of 10K
-
High & Low Prices
Growth of 10K
Read important investment disclosures
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 12/31/2023.
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AMUSX
Bloomberg U.S. Government/Mortgage-Backed Securities Index
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High & Low Prices
Fund Statistics
| 6.2 years Effective Duration | 5.4% Average Yieldto Worst | 4.3% Average Coupon |
% of net assets as of 4/30/2024 (updated monthly)
Morningstar Style BoxTM— Fixed-Income
High Quality
Moderate Interest-Rate Sensitivity
Morningstar data as of 3/31/24 (updated quarterly)
Description
Fund Objective
The fund's investment objective is to provide a high level of current income consistent with prudent investment risk and preservation of capital.
Distinguishing Characteristics
Invests primarily in securities guaranteed or sponsored by the U.S. government and mortgage-backed securities.
Types of Investments
Primarily invests in direct obligations of the U.S. Treasury and securities issued by U.S. government agencies, and cash and equivalents.
Maturity
Not required to maintain any particular maturity.
Portfolio Restrictions
At least 80% of the fund's assets will be invested in securities that are guaranteed or sponsored by the U.S. government.
Fund Facts
| Fund Inception | 10/17/1985 |
| Fund Assets (millions) As of 4/30/2024 | $20,573.4 |
| Companies/Issuers Holdings are as of 4/30/2024 (updated monthly). | 41+ |
| Shareholder Accounts Shareholder accounts are as of 4/30/2024 | 169,798 |
| Regular Dividends Paid | Monthly |
| Minimum Initial Investment | $250 |
| Capital Gains Paid | Dec |
| Portfolio Turnover (2023) | 795% |
| Fiscal Year-End | Aug |
| Prospectus Date | 11/01/2023 |
| CUSIP | 026300 10 3 |
| Fund Number | 22 |
Internal Prompt
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Month-End Returns as of 4/30/24
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Quarter-End Returns as of 3/31/24
ANNUAL RETURNS CHART
Month-End Returns as of 4/30/24
|
With Sales ChargeRead important investment disclosures
AMUSX
Bloomberg U.S. Government/Mortgage-Backed Securities Index
ANNUAL RETURNS CHART
Quarter-End Returns as of 3/31/24
Internal Prompt
Volatility & Return
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Read important investment disclosures
Fixed-Income
For Class A Shares, this chart tracks the 10-year standard deviation
and 10-year annualized return of the fixed income funds
AMUSX
Bloomberg U.S. Government/Mortgage-Backed Securities Index
Other AF Funds
Standard Deviation as of 04/30/2024 (updated monthly) . Annualized return as of 04/30/2024 (updated monthly).
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Internal Prompt
Yield
| 12-month | ||
| Distribution Rates | 30-day SEC Yield | |
| Fund at NAV | 4.12% | N/A |
| Fund at MOP | 3.96% | 4.46% |
As of 4/30/2024 (updated monthly)
Portfolio Management
Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
David J. Betanzos26229
Fergus N. MacDonald312014
Ritchie Tuazon24139
| David J. Betanzos | 9 | 22 | 26 | |
| Fergus N. MacDonald | 14 | 20 | 31 | |
| Ritchie Tuazon | 9 | 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(215) |  |
| 3-yr. Morningstar RatingTM (215 funds rated) | |
| 5-yr. Morningstar RatingTM (205 funds rated) | |
| 10-yr. Morningstar RatingTM (166 funds rated) | |
| Overall Morningstar Risk | Above Average HIGH LOW |
| Category | Intermediate Government |
ADVANTAGES AND DISADVANTAGES OF MORNINGSTAR RATINGS
Ratings are based on risk-adjusted returns as of 4/30/2024 (updated monthly).
Risk Measures
| Fund | |||
| Standard Deviation | 4.56 | ||
| Sharpe Ratio | -0.15 | ||
| For the 10 Years ending 4/30/24 (updated monthly). | |||
| American Funds Benchmark | Morningstar Benchmark | ||
| Bloomberg U.S. Government/Mortgage-Backed Securities Index | Bloomberg US Agg Bond TR USD | ||
| R-squared | 95 | 86 | |
| Beta | 0.99 | 0.88 | |
| Capture Ratio (Downside/Upside) | 98/97 | 84/79 | |
| American Funds Benchmark for the 10 Years ending 4/30/24 (updated monthly). Morningstar Benchmark for the 10 Years ending 4/30/24 (updated monthly). | |||
Quality Summary
Read important investment disclosures
U.S. Treasuries/Agencies
33.7%
AAA/Aaa
61.3%
AA/Aa
0.3%
Unrated
0.1%
Cash & equivalents
4.2%
% of net assets as of 4/30/2024 (updated monthly)
Average Life Breakdown
0-4.9 Years
31.9%
5-9.9 Years
49.9%
10-19.9 Years
5.3%
20-29.9 Years
4.5%
30+ Years
--
% of net assets as of 3/31/2024 (updated monthly)
Bonds Breakdown
Bond Details
Total bond holdings
| Mortgage-backed obligations + 56.8% | |
| U.S. Treasury bonds & notes 34.8% |
% of net assets as of 3/31/2024 (updated quarterly)
Top Fixed-Income Issuers
U.S. Treasury
32.3%
Fannie Mae
21.1%
Federal Home Loan Mortgage
20.7%
UMBS
11.7%
Ginnie Mae II
3.2%
% of net assets as of 3/31/2024 (updated quarterly)
QUARTERLY HOLDINGS
Prices & Distributions
Internal Prompt
-
Historical Prices Month-End
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Historical Prices Year-End
FIND HISTORICAL PRICES
Historical Prices Month-End
| 2024 |
FIND HISTORICAL PRICES
Historical Prices Year-End
Internal Prompt
-
Historical Distributions as of 05/24/24
Historical Distributions as of 05/24/24
FIND HISTORICAL DISTRIBUTIONS
CURRENT DAILY DIVIDENDS
| 2024 |
| Record Date | Calculated Date | Pay Date | Income Dividend Regular | Income Dividend Special | Cap. Gains Long-Term | Cap. Gains Short-Term | Reinvest NAV |
| Daily | 01/31/24 | 02/01/24 | $0.0409645 | $0.00 | $0.00 | $0.00 | $12.12 |
| Daily | 02/29/24 | 03/01/24 | $0.0394922 | $0.00 | $0.00 | $0.00 | $11.87 |
| Daily | 03/28/24 | 04/01/24 | $0.0430441 | $0.00 | $0.00 | $0.00 | $11.90 |
| Daily | 04/30/24 | 05/01/24 | $0.0430274 | $0.00 | $0.00 | $0.00 | $11.55 |
| 2024 Year-to-Date: | Dividends Subtotal: $0.1665282 | Cap Gains Subtotal: $0.00 | |||||
| Total Distributions: $0.1665282 | |||||||
Daily Dividend Accrual
for Pay Date
Close
| Rate | As of Date |
|---|---|
| 0.00137587 | 05/01/2024 |
| 0.00154625 | 05/02/2024 |
| 0.00151703 | 05/03/2024 |
| 0.00357827 | 05/06/2024 |
| 0.00177596 | 05/07/2024 |
| 0.00135028 | 05/08/2024 |
| 0.00138026 | 05/09/2024 |
| 0.00148487 | 05/10/2024 |
| 0.00351455 | 05/13/2024 |
| 0.00171506 | 05/14/2024 |
| 0.00137125 | 05/15/2024 |
| 0.00137420 | 05/16/2024 |
| 0.00149248 | 05/17/2024 |
| 0.00314156 | 05/20/2024 |
| 0.00196124 | 05/21/2024 |
| 0.00130564 | 05/22/2024 |
| 0.00131409 | 05/23/2024 |
| 0.00149934 | 05/24/2024 |
FIND HISTORICAL DISTRIBUTIONS
CURRENT DAILY DIVIDENDS
Current Daily
Dividend Accrual
Close
| Rate | As of-Date | |
|---|---|---|
| 0.00137587 | 05/01/2024 | |
| 0.00154625 | 05/02/2024 | |
| 0.00151703 | 05/03/2024 | |
| 0.00357827 | 05/06/2024 | |
| 0.00177596 | 05/07/2024 | |
| 0.00135028 | 05/08/2024 | |
| 0.00138026 | 05/09/2024 | |
| 0.00148487 | 05/10/2024 | |
| 0.00351455 | 05/13/2024 | |
| 0.00171506 | 05/14/2024 | |
| 0.00137125 | 05/15/2024 | |
| 0.00137420 | 05/16/2024 | |
| 0.00149248 | 05/17/2024 | |
| 0.00314156 | 05/20/2024 | |
| 0.00196124 | 05/21/2024 | |
| 0.00130564 | 05/22/2024 | |
| 0.00131409 | 05/23/2024 | |
| 0.00149934 | 05/24/2024 |
Internal Prompt
Fees
| Annual Management Fees | 0.22% |
| Other Expenses | 0.18% |
| Service 12b-1 | 0.25% |
As of each fund's most recent prospectus.
Internal Prompt
Expense Ratio
| AMUSX | 0.65% |
| Lipper General U.S. GovernmentFunds Average | 0.79% |
Fund as of most recent prospectus. Lipper Category as of 3/31/24 (updated quarterly).
Resources
Prospectuses & Reports for AMUSX
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Quarterly Fund Fact Sheet (PDF) 05/24
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Fund Commentary (PDF) 05/24
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Single Sheet (PDF) 11/21
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Summary Prospectus (PDF) 11/23
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Prospectus (PDF) 11/23
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Statement of additional information (PDF) 11/23
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Semi-Annual Report (PDF) 04/24
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Annual Report (PDF) 10/23
About Our Funds
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Share Class Pricing Details
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Stats Update (PDF)
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Resource Guide (PDF)
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1Q-2024 Quarterly Statistical Update (PDF)
