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DEFINED CONTRIBUTION FOCUS FUNDS

Higher returns with lower volatility than benchmarks

EuroPacific Growth Fund® and New Perspective Fund® both have had favorable risk-adjusted results compared to their benchmarks.

Sharpe ratios indicate excess return per unit of risk (figures as of December 31, 2023)1

Graph shows that EuroPacific Growth Fund's Sharpe ratio was lower than that of MSCI ACWI ex USA over 3 years and higher over 5 years, 10 years, 15 years and 20 years. New Perspective Fund's Sharpe ratio was lower than that of MSCI ACWI over 3 years and higher over 5 years, 10 years, 15 years and 20 years.

Sources: Capital Group, Morningstar. Sharpe ratio is calculated by using standard deviation and return in excess of the risk-free rate to determine reward per unit of risk. The higher the Sharpe ratio, the better the portfolio’s historical risk-adjusted performance.
 

Standard deviation: Annualized standard deviation (based on monthly returns) is a common measure of absolute volatility that tells how returns over time have varied from the mean. A lower number signifies lower volatility.
 

Risk-free rate: A theoretical interest rate on a single-period loan that has zero probability of default.

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* Rolling monthly 10-year periods for the past 30 years, ending December 31, 2023. The fund’s benchmark index is the EuroPacific Growth Fund Historical Benchmarks Index. EuroPacific Growth Fund Historical Benchmarks Index returns reflect the results of the MSCI EAFE® Index through 03/31/2007 and the MSCI All Country World ex USA Index, the fund’s current primary benchmark, thereafter. MSCI EAFE® (Europe, Australasia, Far East) Index is a free float-adjusted market capitalization weighted index that is designed to measure developed equity market results, excluding the United States and Canada. MSCI All Country World ex USA Index is a free float-adjusted market capitalization weighted index that is designed to measure equity market results in the global developed and emerging markets, excluding the United States. The index consists of more than 40 developed and emerging market country indexes. Results reflect dividends net of withholding taxes. These indexes are unmanaged, and their results include reinvested dividends and/or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes. The Morningstar category from EUPAC inception until September 2014 was Foreign Large Blend and Foreign Large Growth thereafter.

† As of July 17, 2023 (EUPAC), and June 24, 2024 (NPF), based on Class R-6 shares.

§ Rolling monthly 10-year periods over the fund's lifetime through December 31, 2023. The fund’s benchmark index is the MSCI All Country World Index (ACWI), a free float-adjusted market capitalization-weighted index that is designed to measure equity market results in the global developed and emerging markets, consisting of more than 40 developed and emerging market country indexes. The MSCI ACWI Index began after the fund’s inception. From March 13, 1973, through December 31, 1987, the MSCI World Index was used. MSCI World Index is a benchmark for “world” or “global” stock funds and is intended to represent a broad cross-section of global markets. Results reflect dividends net of withholding taxes. Fund peers are represented by Morningstar World Large Stock. Morningstar World Large Stock category portfolios have few geographical limitations. It is common for these portfolios to invest the majority of their assets in the U.S., Europe and Japan, with the remainder divided among the globe’s smaller markets. These portfolios typically have 20%–60% of assets in U.S. stocks. The Morningstar category average includes all share classes for the funds in the category. While American Funds Class R-6 shares do not include fees for advisor compensation and third-party service provider payments, the share classes represented in the Morningstar category have varying fee structures and can include these and other fees and charges resulting in higher expenses and lower results than American Funds Class R-6 shares.

** Source: Morningstar, "The Thrilling 30" by Russel Kinnel, September 29, 2023. Morningstar's screening took into consideration expense ratios, manager ownership, returns over manager's tenure, and Morningstar Risk, Medalist and Parent ratings. The universe was limited to share classes accessible to individual investors with a minimum investment no greater than $50,000, did not include funds of funds, and must be rated by Morningstar analysts. Class A shares were evaluated for American Funds. Visit morningstar.com for more details.

Unless otherwise indicated, data is as of December 31, 2023, and fund data is for Class R-6 shares.

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.
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 and should be read carefully before investing.
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.
The Morningstar Medalist Rating™ is the summary expression of Morningstar's forward-looking analysis of investment strategies as offered via specific vehicles using a rating scale of Gold, Silver, Bronze, Neutral, and Negative. The Medalist Ratings indicate which investments Morningstar believes are likely to outperform a relevant index or peer group average on a risk-adjusted basis over time. Investment products are evaluated on three key pillars (People, Parent, and Process) which, when coupled with a fee assessment, forms the basis for Morningstar's conviction in those products' investment merits and determines the Medalist Rating they're assigned. Pillar ratings take the form of Low, Below Average, Average, Above Average, and High. Pillars may be evaluated via an analyst's qualitative assessment (either directly to a vehicle the analyst covers or indirectly when the pillar ratings of a covered vehicle are mapped to a related uncovered vehicle) or using algorithmic techniques. Vehicles are sorted by their expected performance into rating groups defined by their Morningstar Category and their active or passive status. When analysts directly cover a vehicle, they assign the three pillar ratings based on their qualitative assessment, subject to the oversight of the Analyst Rating Committee, and monitor and reevaluate them at least every 14 months. When the vehicles are covered either indirectly by analysts or by algorithm, the ratings are assigned monthly. For more detailed information about these ratings, including their methodology, please go to global.morningstar.com/managerdisclosures/. The Morningstar Medalist Ratings are not statements of fact, nor are they credit or risk ratings. The Morningstar Medalist Rating (i) should not be used as the sole basis in evaluating an investment product, (ii) involves unknown risks and uncertainties which may cause expectations not to occur or to differ significantly from what was expected, (iii) are not guaranteed to be based on complete or accurate assumptions or models when determined algorithmically, (iv) involve the risk that the return target will not be met due to such things as unforeseen changes in management, technology, economic development, interest rate development, operating and/or material costs, competitive pressure, supervisory law, exchange rate, tax rates, exchange rate changes, and/or changes in political and social conditions, and (v) should not be considered an offer or solicitation to buy or sell the investment product. A change in the fundamental factors underlying the Morningstar Medalist Rating can mean that the rating is subsequently no longer accurate.
Capital Group offers a range of share classes designed to meet the needs of retirement plan sponsors and participants. The different share classes incorporate varying levels of financial professional compensation and service provider payments. Because Class R-6 shares do not include any recordkeeping payments, expenses are lower and results are higher. Other share classes that include recordkeeping costs have higher expenses and lower results than Class R-6.
There have been periods when the results lagged the index(es) and/or average(s). The indexes are unmanaged and, therefore, have no expenses. Investors cannot invest directly in an index.
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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 refer to 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.
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 R-6 shares were first offered on 5/1/2009.
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.
  1. Calculated by Morningstar. Due to differing calculation methods, the figures shown here may differ from those calculated by Capital Group.
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