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BOND FUND OF AMERICA
The Bond Fund of America
Investment objective

The fund’s investment objective is to provide as high a level of current income as is consistent with the preservation of capital.

Fees and expenses of the fund

This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. For example, in addition to the fees and expenses described below, you may also be required to pay brokerage commissions on purchases and sales of Class F-2, F-3, 529-F-2 or 529-F-3 shares of the fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $100,000 in American Funds. More information about these and other discounts is available from your financial professional, in the “Sales charge reductions and waivers” sections on page 39 of the prospectus and on page 85 of the fund’s statement of additional information, and in the sales charge waiver appendix to the prospectus.

Shareholder fees (fees paid directly from your investment)
Shareholder Fees - BOND FUND OF AMERICA
Class A
Class 529-A
Class C
Class 529-C
Class 529-E
Class 529-T
Class T
Class F-1
Class 529-F-1
Class F-2
Class F-3
Class 529-F-2
Class 529-F-3
Class R-1
Class R-2
Class R-3
Class R-4
Class R-5
Class R-6
Class R-2E
Class R-5E
Maximum sales charge (load) imposed on purchases (as a percentage of offering price) 3.75% 3.50% none none none 2.50% 2.50% none none none none none none none none none none none none none none
Maximum deferred sales charge (load) (as a percentage of the amount redeemed) 0.75% [1] 1.00% [1] 1.00% 1.00% none none none none none none none none none none none none none none none none none
Maximum sales charge (load) imposed on reinvested dividends none none none none none none none none none none none none none none none none none none none none none
Redemption or exchange fees none none none none none none none none none none none none none none none none none none none none none
[1] A contingent deferred sales charge of 0.75% for Class A shares and 1.00% for Class 529-A shares applies on certain redemptions made within 18 months following purchases of $500,000 or more for Class A and $1 million or more for Class 529-A made without an initial sales charge. Contingent deferred sales charge is calculated based on the lesser of the offering price and market value of shares being sold.
Annual fund operating expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - BOND FUND OF AMERICA
Class A
Class C
Class T
Class F-1
Class F-2
Class F-3
Class 529-A
Class 529-C
Class 529-E
Class 529-T
Class 529-F-1
Class 529-F-2
Class 529-F-3
Class R-1
Class R-2
Class R-2E
Class R-3
Class R-4
Class R-5E
Class R-5
Class R-6
Management fees 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20%
Distribution and/or service (12b-1) fees 0.25% 0.99% 0.25% 0.25% none none 0.24% 1.00% 0.50% 0.25% 0.25% none none 1.00% 0.75% 0.60% 0.50% 0.25% none none none
Other expenses 0.17% 0.17% 0.16% [1] 0.20% 0.15% 0.04% 0.22% 0.22% 0.14% 0.21% [1] 0.26% 0.15% [1] 0.10% 0.13% 0.38% 0.24% 0.19% 0.14% 0.19% 0.09% 0.04%
Total annual fund operating expenses 0.62% 1.36% 0.61% 0.65% 0.35% 0.24% 0.66% 1.42% 0.84% 0.66% 0.71% 0.35% 0.30% 1.33% 1.33% 1.04% 0.89% 0.59% 0.39% 0.29% 0.24%
[1] Restated to reflect current fees.
Example

This example is intended to help you compare the cost of investing in the fund with the cost of investing in other mutual funds.

The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem or hold all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the fund’s operating expenses remain the same. You may be required to pay brokerage commissions on your purchases and sales of Class F-2, F-3, 529-F-2 or 529-F-3 shares of the fund, which are not reflected in the example.

Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example - BOND FUND OF AMERICA - USD ($)
Class A
Class C
Class T
Class F-1
Class F-2
Class F-3
Class 529-A
Class 529-C
Class 529-E
Class 529-T
Class 529-F-1
Class 529-F-2
Class 529-F-3
Class R-1
Class R-2
Class R-2E
Class R-3
Class R-4
Class R-5E
Class R-5
Class R-6
1 year $ 436 $ 238 $ 311 $ 66 $ 36 $ 25 $ 415 $ 245 $ 86 $ 316 $ 73 $ 36 $ 31 $ 135 $ 135 $ 106 $ 91 $ 60 $ 40 $ 30 $ 25
3 years 566 431 440 208 113 77 554 449 268 456 227 113 97 421 421 331 284 189 125 93 77
5 years 708 745 582 362 197 135 705 776 466 609 395 197 169 729 729 574 493 329 219 163 135
10 years $ 1,120 $ 1,432 $ 993 $ 810 $ 443 $ 306 $ 1,144 $ 1,215 $ 1,037 $ 1,052 $ 883 $ 443 $ 381 $ 1,601 $ 1,601 $ 1,271 $ 1,096 $ 738 $ 493 $ 368 $ 306
For the share classes listed to the right, you would pay the following if you did not redeem your shares:
Expense Example No Redemption - BOND FUND OF AMERICA - USD ($)
Class C
Class 529-C
1 year $ 138 $ 145
3 years 431 449
5 years 745 776
10 years $ 1,432 $ 1,215
Portfolio turnover

The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s investment results. During the most recent fiscal year, the fund’s portfolio turnover rate was 466% of the average value of its portfolio.

Principal investment strategies

The fund seeks to maximize your level of current income and preserve your capital by investing primarily in bonds. Normally the fund invests at least 80% of its assets in bonds and other debt securities, which may be represented by derivatives. The fund invests at least 60% of its assets in debt securities (excluding derivatives) rated A3 or better or A- or better by Nationally Recognized Statistical Ratings Organizations designated by the fund’s investment adviser, or in debt securities that are unrated but determined to be of equivalent quality by the fund’s investment adviser, and in U.S. government securities, money market instruments, cash or cash equivalents.

The fund may invest in debt securities and mortgage-backed securities issued by government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government.

The fund may invest in inflation-linked bonds issued by U.S. and non-U.S. governments, their agencies or instrumentalities, and corporations. Inflation-linked bonds are structured to protect against inflation by linking the bond’s principal and interest payments to an inflation index, such as the Consumer Price Index for Urban Consumers, so that principal and interest adjust to reflect changes in the index.

The fund may invest in futures contracts and swaps, which are types of derivatives. A derivative is a financial contract, the value of which is based on the value of an underlying financial asset (such as a stock, bond or currency), a reference rate or a market index.

The fund may invest up to 5% of its assets in debt securities rated Ba1 or below and BB+ or below by Nationally Recognized Statistical Ratings Organizations designated by the fund’s investment adviser, or in debt securities that are unrated but determined to be of equivalent quality by the fund’s investment adviser. Securities rated Ba1 or below and BB+ or below are sometimes referred to as “junk bonds.”

The investment adviser uses a system of multiple portfolio managers in managing the fund’s assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers.

The fund relies on the professional judgment of its investment adviser to make decisions about the fund’s portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good, long-term investment opportunities. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.

Principal risks
Investment results

The following bar chart shows how the fund’s investment results have varied from year to year, and the following table shows how the fund’s average annual total returns for various periods compare with a broad measure of securities market results and other applicable measures of market results. This information provides some indication of the risks of investing in the fund. The Lipper Core Bond Funds Average includes the fund and other funds that disclose investment objectives and/or strategies reasonably comparable to those of the fund. Past investment results (before and after taxes) are not predictive of future investment results. Prior to October 30, 2020, certain fees, such as 12b-1 fees, were not charged on Class 529-F-1 shares. If these expenses had been deducted, results would have been lower. Updated information on the fund’s investment results can be obtained by visiting capitalgroup.com.

The following bar chart shows how the fund’s investment results have varied from year to year, and the following table shows how the fund’s average annual total returns for various periods compare with a broad measure of securities market results and other applicable measures of market results.

Calendar year total returns for Class F-2 shares (Class F-2 shares are not subject to sales charges.)
Bar Chart

Highest/Lowest quarterly results during this period were:


Highest 6.76% (quarter ended December 31, 2023)


Lowest -5.43% (quarter ended March 31, 2022)

Average annual total returns For the periods ended December 31, 2023:
Average Annual Returns - BOND FUND OF AMERICA
Average Annual Returns, 1 Year
Average Annual Returns, 5 Years
Average Annual Returns, 10 Years
Average Annual Returns, Since Inception
Average Annual Returns, Inception Date
Class F-2 4.98% 1.86% 2.21% 2.89% Aug. 04, 2008
Class A 0.80% 0.83% 1.57% 6.70% May 28, 1974
Class C 2.93% 0.85% 1.32% 3.04% Mar. 15, 2001
Class F-1 4.67% 1.57% 1.92% 3.30% Mar. 15, 2001
Class F-3 5.09% 1.97%   1.92% Jan. 27, 2017
Class 529-A 1.02% 0.83% 1.52% 3.05% Feb. 15, 2002
Class 529-C 2.87% 0.80% 1.50% 3.03% Feb. 19, 2002
Class 529-E 4.46% 1.37% 1.68% 2.97% Mar. 07, 2002
Class 529-F-1 4.87% 1.77% 2.11% 3.47% Sep. 26, 2002
Class 529-F-2 5.00%     (2.27%) Oct. 30, 2020
Class 529-F-3 5.03%     (2.23%) Oct. 30, 2020
Class R-1 3.96% 0.86% 1.19% 2.48% Jun. 11, 2002
Class R-2 3.95% 0.86% 1.20% 2.46% May 31, 2002
Class R-2E 4.26% 1.16%   1.15% Aug. 29, 2014
Class R-3 4.42% 1.31% 1.65% 2.91% Jun. 04, 2002
Class R-4 4.73% 1.62% 1.96% 3.26% May 20, 2002
Class R-5E 4.94% 1.83%   1.88% Nov. 20, 2015
Class R-5 5.04% 1.92% 2.26% 3.58% May 15, 2002
Class R-6 5.09% 1.97% 2.32% 3.70% May 01, 2009
After Taxes on Distributions | Class F-2 3.32% 0.44% 1.01%    
After Taxes on Distributions and Sale of Fund Shares | Class F-2 2.91% 0.90% 1.21%    
Bloomberg U.S. Aggregate Index (reflects no deductions for sales charges, account fees, expenses or U.S. federal income taxes) 5.53% 1.10% 1.81% 2.88% Aug. 04, 2008
Lipper Core Bond Funds Average (reflects no deductions for sales charges, account fees or U.S. federal income taxes) 5.84% 1.24% 1.73% 6.57% Aug. 04, 2008

After-tax returns are shown only for Class F-2 shares; after-tax returns for other share classes will vary. After-tax returns are calculated using the highest individual federal income tax rates in effect during each year of the periods shown and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your individual tax situation and likely will differ from the results shown above. In addition, after-tax returns are not relevant if you hold your fund shares through a tax-favored arrangement, such as a 401(k) plan, individual retirement account (IRA) or 529 college savings plan.