Effect of fee waivers and/or expense reimbursements on Class A, C and F-1 share returns

The table below shows Class A, C and F-1 share returns with and without fee waivers and/or expense reimbursements for some funds and share classes. Funds and share classes shown reflect a more than 10 basis point expense waiver and/or reimbursement on an annualized basis. To get each fund’s expense ratio, and its yield and returns for other periods not shown that reflect the fee waiver and/or expense reimbursements, visit the fund details page for each fund listed below. You may also read details about how waivers and reimbursements affect the results for each fund.

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. Fund results shown are at net asset value with all distributions reinvested. If a sales charge had been deducted, the results would have been lower. Share prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely.

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

You could lose money by investing in the American Funds U.S. Government Money Market Fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. The fund’s sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will do so at any time.

Class A, C and F-1 shares as of February 28, 2019

Fund Name Waivers and/or Reimbursements as of February 28, 2019 Average Annual Total Returns Since Shares First Sold†,‡
A C F-1
Growth Funds
AMCAP Fund® With* 11.48% 7.15% 7.73%
Without*
EuroPacific Growth Fund® With* 10.43% 5.93% 6.40%
Without*
The Growth Fund of America® With* 13.51% 7.38% 7.87%
Without*
The New Economy Fund® With* 11.32% 7.39% 7.87%
Without*
New Perspective Fund® With* 12.13% 7.59% 8.06%
Without*
New World Fund® With* 7.71% 8.39% 8.91%
Without*
SMALLCAP World Fund® With* 9.59% 7.99% 8.46%
Without*
Fund Name Waivers and/or Reimbursements as of February 28, 2019 Average Annual Total Returns Since Shares First Sold†,‡
A C F-1
Growth-and-Income Funds
American Funds Developing World Growth and Income Fund℠ With* 2.25% 1.46% 2.26%
Without*
American Mutual Fund® With* 11.56% 7.06% 7.52%
Without*
Capital World Growth and Income Fund® With* 10.25% 7.50% 7.97%
Without*
Fundamental Investors® With* 12.33% 7.63% 8.11%
Without*
International Growth and Income Fund℠ With* 6.27% 5.46% 6.24%
Without*
The Investment Company of America® With* 12.03% 6.39% 6.85%
Without*
Washington Mutual Investors Fund℠ With* 11.81% 6.79% 7.26%
Without*
Fund Name Waivers and/or Reimbursements as of February 28, 2019 Average Annual Total Returns Since Shares First Sold†,‡
A C F-1
Equity-Income Funds
Capital Income Builder® With* 8.93% 6.22% 6.68%
Without*
The Income Fund of America® With* 10.81% 6.55% 7.01%
Without*
Fund Name Waivers and/or Reimbursements as of February 28, 2019 Average Annual Total Returns Since Shares First Sold†,‡
A C F-1
Balanced Funds
American Balanced Fund® With* 10.54% 6.66% 7.13%
Without*
American Funds Global Balanced Fund℠ With* 5.75% 4.92% 5.71%
Without*
Fund Name Waivers and/or Reimbursements as of February 28, 2019 Average Annual Total Returns Since Shares First Sold†,‡
A C F-1
Bond Funds
American Funds Corporate Bond Fund® With* 3.19% 0.13% 0.96%
Without*
American Funds Emerging Markets Bond Fund® With* 5.01% 3.38% 4.09%
Without*
American Funds Inflation Linked Bond Fund® With* 0.34% 0.26% 0.99%
Without*
American Funds Mortgage Fund® With* 1.96% 1.15% 1.94%
Without*
American Funds Strategic Bond Fund℠ With* 2.40% 1.64% 2.36%
Without*
American High-Income Trust® With* 7.73% 5.92% 6.36%
Without*
The Bond Fund of America® With* 7.37% 3.37% 3.82%
Without*
Capital World Bond Fund® With* 5.88% 4.49% 4.99%
Without*
Intermediate Bond Fund of America® With* 4.48% 2.17% 2.61%
Without*
Short-Term Bond Fund of America® With* 1.49% 0.78% 1.37%
Without*
U.S. Government Securities Fund® With* 5.38% 2.93% 3.38%
Without*
Fund Name Waivers and/or Reimbursements as of February 28, 2019 Average Annual Total Returns Since Shares First Sold†,‡
A C F-1
Money Market Funds
American Funds U.S. Government Money Market Fund℠ With* 0.24% 0.23% 0.17%
Without*
Fund Name Waivers and/or Reimbursements as of February 28, 2019 Average Annual Total Returns Since Shares First Sold†,‡
A C F-1
American Funds Portfolio Series℠
American Funds Global Growth Portfolio℠ With* 11.04% 10.19% 11.01%
Without*
American Funds Growth Portfolio℠ With* 12.48% 11.61% 12.44%
Without*
American Funds Growth and Income Portfolio℠ With* 9.72% 8.87% 9.67%
Without*
American Funds Moderate Growth and Income Portfolio℠ With* 8.79% 7.96% 8.76%
Without*
American Funds Conservative Growth and Income Portfolio℠ With* 6.94% 6.14% 6.91%
Without*
American Funds Preservation Portfolio℠ With* 0.93% 0.21% 0.94%
Without*
Fund Name Waivers and/or Reimbursements as of February 28, 2019 Average Annual Total Returns Since Shares First Sold†,‡
A C F-1
American Funds Retirement Income Portfolio Series℠
American Funds Retirement Income Portfolio - Enhanced℠ With* 6.85% 6.10% 6.82%
Without*
American Funds Retirement Income Portfolio - Moderate℠ With* 5.78% 5.05% 5.75%
Without*
American Funds Retirement Income Portfolio - Conservative℠ With* 4.67% 3.95% 4.65%
Without*
Fund Name Waivers and/or Reimbursements as of February 28, 2019 Average Annual Total Returns Since Shares First Sold†,‡
A C F-1
American Funds Target Date Retirement Series®
American Funds 2060 Target Date Retirement Fund® With* 7.60% 6.79% 7.63%
Without*
American Funds 2055 Target Date Retirement Fund® With* 10.15% 6.78% 7.58%
Without*
American Funds 2050 Target Date Retirement Fund® With* 6.61% 6.79% 7.59%
Without*
American Funds 2045 Target Date Retirement Fund® With* 6.59% 6.71% 7.53%
Without*
American Funds 2040 Target Date Retirement Fund® With* 6.53% 6.59% 7.38%
Without*
American Funds 2035 Target Date Retirement Fund® With* 6.40% 6.39% 7.17%
Without*
American Funds 2030 Target Date Retirement Fund® With* 6.14% 5.76% 6.55%
Without*
American Funds 2025 Target Date Retirement Fund® With* 5.57% 4.93% 5.71%
Without*
American Funds 2020 Target Date Retirement Fund® With* 4.97% 4.43% 5.20%
Without*
American Funds 2015 Target Date Retirement Fund® With* 4.67% 3.96% 4.73%
Without*
American Funds 2010 Target Date Retirement Fund® With* 4.41% 3.70% 4.47%
Without*

*Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Read details about how waivers and/or reimbursements affect the results for each fund.

For the following funds, the investment adviser is currently reimbursing a portion of the funds’ fees or expenses. Investment results reflect the reimbursements, without which the results would have been lower.

- American Funds U.S. Government Money Market Fund is currently reimbursing a portion of the fund’s fees and expenses. Please see the Financial Highlights table in the fund’s most recent prospectus for details.

- American Funds Corporate Bond Fund, American Funds Emerging Markets Bond Fund, American Funds Strategic Bond Fund, American Funds Retirement Income Portfolio Series funds and American Funds 2060 Target Date Retirement Fund are currently reimbursing a portion of other expenses through at least April 7, 2018.

The investment adviser may elect at its discretion to extend, modify or terminate the reimbursements at that time. Please see each fund’s most recent prospectus for details.

Class C shares were first offered on March 15, 2001. Class C share results prior to the date of first sale are hypothetical based on Class A share results without a sales charge, adjusted for estimated additional annual expenses. Results for certain funds with an inception date after March 15, 2001, also include hypothetical returns because those funds’ Class C shares sold after the funds’ date of first offering. Class C shares convert to Class F-1 shares after 10 years. Class F-1 shares were first offered on March 15, 2001. Class F-1 share results prior to the date of first sale are hypothetical based on Class A share results without a sales charge, adjusted for estimated additional annual expenses. Results for certain funds with an inception date after March 15, 2001, also include hypothetical returns because those funds’ Class F-1 shares sold after the funds’ date of first offering. Please see each fund’s prospectus for more information on specific expenses.

These returns will be available 6 – 8 business days after month-end.

‡Lifetime returns for less than one year are not annualized, but calculated as cumulative total returns.

For more information about the risks, fees and expenses associated with each fund, read the prospectus.

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

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional or downloaded and should be read carefully before investing.