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

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. Investing for short periods makes losses more likely. Prices and returns will vary, so investors may lose money. View mutual fund expense ratios and returns.

Returns will vary, so investors may lose money. (American Funds U.S. Government Money Market Fund)

You could lose money by investing in 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 insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. 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 C shares reflect the deduction of a contingent deferred sales charge (1%) on shares sold within the first year of purchase.

^¶¶The return is since the investment inception date shown above.

Definitions

Price: the amount you would pay for each share of the fund that day, or the amount you would receive if you sold shares that day, disregarding applicable sales charges.

Price change: the difference in share price between the most recent closing price on the New York Stock Exchange and the previous day’s closing price.

YTD (year-to-date) return: the net change (in percentage terms) in the value of the fund’s shares from January 1 of the current year to the date shown above. In cases where the fund was first offered in the current year, the net change in the value of the portfolio (in percentage terms) is shown since fund inception. Returns for less than one year are not annualized, but calculated as cumulative total returns.

7-day yield: calculated by annualizing dividends paid over the past seven days. Compared with returns, the 7-day yield more accurately reflects the fund’s current earnings. The 7-day yield shown first (net) reflects reimbursements; the second yield (gross) does not. Yields shown are as of 5/31/23 and updated monthly.

Expenses: annual fund investment expenses, which are deducted from fund assets. Expense ratios are as of each fund’s prospectus available at the time of publication.

Other information

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 and should be read carefully before investing.

Investment results assume all distributions are reinvested and reflect applicable fees and expenses.

When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower and net expenses higher. Please see capitalgroup.com for more information. 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.

For Class C shares of the funds listed below, the investment adviser has agreed to reimburse a portion of fund expenses through the date(s) listed below, without which results would have been lower and net expenses higher.

• American Funds Corporate Bond Fund (expiration: 8/1/2023)
• American Funds International Vantage Fund (expiration: 1/1/2024)

The investment adviser may elect at its discretion to extend, modify or terminate the reimbursements as of any noted expiration date. Please see the fund’s most recent prospectus for details.

Allocations may not achieve investment objectives. The portfolios’ risks are directly related to the risks of the underlying funds.

Certain share classes were offered after the inception dates of some funds. Results for these shares prior to the dates of first sale are hypothetical based on the original share class results without a sales charge, adjusted for typical estimated expenses.

• Class C shares were first offered on 3/15/2001.

Results for certain funds with an inception date after the share class inception also include hypothetical returns because those funds’ shares sold after the funds’ date of first offering. View dates of first sale and specific expense adjustment information. Class C shares convert to Class A shares after 8 years. Prior to 6/30/2020, Class C shares converted to Class F-1 shares after 10 years.

American Funds Strategic Bond Fund may engage in frequent and active trading of its portfolio securities, which may involve correspondingly greater transaction costs, adversely affecting the fund’s results.

The use of derivatives involves a variety of risks, which may be different from, or greater than, the risks associated with investing in traditional securities, such as stocks and bonds.

The value of fixed income securities may be affected by changing interest rates and changes in credit ratings of the securities.

Although the target date portfolios are managed for investors on a projected retirement date time frame, the allocation strategy does not guarantee that investors’ retirement goals will be met. Investment professionals manage the portfolio, moving it from a more growth-oriented strategy to a more income-oriented focus as the target date gets closer. The target date is the year that corresponds roughly to the year in which an investor is assumed to retire and begin taking withdrawals. Investment professionals continue to manage each portfolio for approximately 30 years after it reaches its target date. The Retirement Income Portfolio Series’ investment allocations may not achieve fund objectives, and adequate income through retirement is not guaranteed. The portfolios’ risks are directly related to the risks of the underlying funds. Payments consisting of return of capital will result in a decrease in an investor’s fund share balance. Higher rates of withdrawal and withdrawals during declining markets may result in a more rapid decrease in an investor’s fund share balance. Persistent returns of capital could ultimately result in a zero account balance.

Investing outside the United States involves risks, such as currency fluctuations, periods of illiquidity and price volatility. These risks may be heightened in connection with investments in developing countries.

Small-company stocks entail additional risks, and they can fluctuate in price more than larger company stocks.

Lower rated bonds are subject to greater fluctuations in value and risk of loss of income and principal than higher rated bonds.

Nondiversified funds have the ability to invest a larger percentage of assets in securities of individual issuers than a diversified fund. As a result, a single issuer could adversely affect a fund’s results more than if the fund invested a smaller percentage of assets in securities of that issuer. See the applicable prospectus for details. (American Funds Emerging Markets Bond Fund)

For money market funds, the annualized 7-day SEC yield more accurately reflects the fund’s current earnings than does the fund’s return.

Visit the SEC website for the American Funds U.S. Government Money Market Fund’s most recent filings.

Although American Funds U.S. Government Money Market Fund has 12b-1 plans for some share classes, the fund is currently suspending certain 12b-1 payments in this low interest rate environment. Should payments commence, the fund’s investment results will be lower and expenses will be higher.

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.

Investments in mortgage-related securities involve additional risks, such as prepayment risk.

Fund shares of U.S. Government Securities Fund are not guaranteed by the U.S. government.

While not directly correlated to changes in interest rates, the values of inflation-linked bonds generally fluctuate in response to changes in real interest rates and may experience greater losses than other debt securities with similar durations.

Class C share average annual total returns with CDSC reflect deduction of the contingent deferred sales charge. A 1% CDSC is paid on Class C shares sold within one year of purchase.

Class C share average annual total returns without CDSC do not reflect deduction of the contingent deferred sales charge. A 1% CDSC is paid on Class C shares sold within one year of purchase.