Short-Term Bond Fund of America
Short-Term Bond Fund of America · Series S000013585 · 21 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2025 Q4
The funds investment objective is to provide you with current income, consistent with the maturity and quality standards described in this prospectus, and preservation of capital.
The fund invests at least 80% of assets in bonds rated AA/Aa3 or better, with a dollar-weighted average maturity not exceeding three years, selecting securities the adviser judges to offer attractive value; up to 10% may be in A-rated or equivalent-quality debt. The portfolio spans U.S. government securities, corporate bonds, mortgage-backed securities, asset-backed securities, and inflation-linked bonds, with potential use of futures and swaps. Because security selection depends on the adviser's judgment of relative value, fund performance will diverge from any benchmark.
| Share class | Expense ratio |
|---|---|
| ASBAX | 0.68% |
| ASBFX | 0.67% |
| CAAFX | 0.66% |
| CFAMX | 0.72% |
| RAMAX | 1.38% |
| RAMBX | 1.35% |
| RAMCX | 0.92% |
| RAMEX | 0.62% |
| RAMFX | 0.34% |
| ASBCX | 1.38% |
| CCAMX | 1.43% |
| CEAMX | 0.87% |
| SBFFX | 0.40% |
| RMMGX | 0.29% |
| RAAEX | 1.03% |
| RAAGX | 0.44% |
| FSBTX | 0.29% |
| TTSBX | 0.67% |
| TSTBX | 0.62% |
| FTSBX | 0.39% |
| FFTSX | 0.34% |
Portfolio turnover 232.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 48.99% |
| Securitized | 41.48% |
| Cash & short-term | 12.21% |
| Loans | 0.03% |
| Derivatives | -0.01% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: UNITED STATES TREASURY ×7, UNIFORM MBS
Largest exited: UNITED STATES TREASURY ×5, AMERICAN EXPRESS CO, MISSION LANE CREDIT MASTER TRUST MLANE_24-A, BX COMMERCIAL MORTGAGE TRUST BX_21-SDMF
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +2.95% | +12.31% | +9.07% | 1.32% | -1.05% | |
| +2.96% | +12.34% | +9.12% | 1.32% | -1.05% | |
| +2.97% | +12.37% | +9.16% | 1.32% | -1.04% | |
| +3.15% | +12.81% | +10.07% | 1.23% | -1.13% | |
| +2.23% | +9.88% | +5.27% | 1.25% | -1.19% | |
| +2.26% | +10.09% | +5.38% | 1.51% | -1.19% | |
| +2.70% | +11.40% | +7.69% | 1.23% | -1.09% | |
| +3.00% | +12.49% | +9.34% | 1.32% | -1.04% | |
| +3.30% | +13.33% | +10.79% | 1.29% | -0.99% | |
| +2.22% | +9.88% | +5.28% | 1.31% | -1.19% | |
| +2.17% | +9.83% | +5.05% | 1.45% | -1.21% | |
| +2.74% | +11.64% | +7.98% | 1.48% | -1.09% | |
| +3.24% | +13.15% | +10.60% | 1.23% | -1.10% | |
| +3.35% | +13.63% | +11.19% | 1.39% | -0.98% | |
| +2.60% | +11.11% | +7.03% | 1.48% | -1.11% | |
| +3.20% | +13.00% | +10.24% | 1.29% | -1.00% | |
| +3.35% | +13.51% | +11.08% | 1.29% | -0.98% | |
| +3.22% | +13.14% | +10.41% | 1.40% | -1.01% | |
| +3.25% | +13.18% | +10.58% | 1.30% | -1.00% | |
| +3.25% | +13.17% | +10.53% | 1.29% | -1.00% | |
| +3.28% | +13.26% | +10.66% | 1.29% | -1.00% |
These classes hold the same portfolio, so the 6.14pp spread over 5 years is the cost difference between them — roughly 1.23pp a year — not a difference in what they own.
May 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-05-31
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 81.1% |
| Floating rate | 18.9% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 6.1% |
| 1-3y | 47.9% |
| 3-5y | 12.2% |
| 5-10y | 9.2% |
| 10y+ | 24.6% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying about half as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 74% |
| Credit spreads | 26% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +0.72 yr |
| High yield | +0.14 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.01 yr | 1% |
| 1 yr | 1.48 yr | 60% |
| 5 yr | 0.88 yr | 36% |
| 30 yr | 0.10 yr | 4% |
10 yr is NEGATIVE (-0.01 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
| 3 mo | 0.03 yr | 4% |
| 1 yr | 0.34 yr | 39% |
| 5 yr | 0.32 yr | 37% |
| 10 yr | 0.12 yr | 14% |
| 30 yr | 0.05 yr | 6% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.01 | +0.03 | +0.00 | $37.1k | $4.0k |
| 1 yr | +1.48 | +0.29 | +0.04 | $379.4k | $56.9k |
| 5 yr | +0.88 | +0.29 | +0.04 | $371.6k | $45.3k |
| 10 yr | -0.01 | +0.08 | +0.04 | $103.1k | $54.7k |
| 30 yr | +0.10 | +0.03 | +0.02 | $42.1k | $22.6k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| CMQXX | CAPITAL GROUP CENTRAL CASH FUNDCMQXX | 12.21% | $1.58B | — |
| — | UNITED STATES TREASURY3.75% · due 2028-04-30 | 10.07% | $1.30B | — |
| — | UNITED STATES TREASURY3.88% · due 2029-05-15 | 5.89% | $761.56M | — |
| — | UNITED STATES TREASURY3.50% · due 2027-09-30 | 4.82% | $623.33M | — |
| — | UNITED STATES TREASURY4.00% · due 2027-01-15 | 2.52% | $325.46M | — |
| — | UNITED STATES TREASURY4.00% · due 2028-05-31 | 1.93% | $250.03M | — |
| — | UNITED STATES TREASURY4.00% · due 2027-12-15 | 1.87% | $242.11M | — |
| — | UNITED STATES TREASURY4.00% · due 2029-01-31 | 1.41% | $182.42M | — |
| — | UNITED STATES TREASURY3.38% · due 2027-09-15 | 1.11% | $143.92M | — |
| — | UNITED STATES TREASURY3.25% · due 2027-06-30 | 0.92% | $119.16M | — |
Top 10 positions are 42.76% of net assets, top 25 50.01%, across 862 issuers.
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