American Funds Short-Term Tax Exempt Bond Fund (ASTEX)
The fund will invest at least 80% of its assets in, or derive at least 80% of its income from, securities that are exempt from regular federal income tax and that do not subject the investors to federal alternative minimum tax. The fund invests primarily in debt securities rated AA- or better or Aa3 or better, or unrated but determined by the fund's investment adviser to be of equivalent quality. Its aggregate portfolio will have a dollar-weighted average effective maturity no greater than three years.
Fund Info
US02630W1036
02630W103
Aug 6, 2009
$250
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in American Funds Short-Term Tax Exempt Bond Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
American Funds Short-Term Tax Exempt Bond Fund had a return of 2.43% year-to-date (YTD) and 4.40% in the last 12 months. Over the past 10 years, American Funds Short-Term Tax Exempt Bond Fund had an annualized return of 1.07%, while the S&P 500 had an annualized return of 11.21%, indicating that American Funds Short-Term Tax Exempt Bond Fund did not perform as well as the benchmark.
ASTEX
2.43%
0.42%
2.76%
4.40%
1.02%
1.07%
^GSPC (Benchmark)
25.15%
2.97%
12.53%
31.00%
13.95%
11.21%
Monthly Returns
The table below presents the monthly returns of ASTEX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -0.01% | 0.09% | -0.00% | -0.40% | 0.12% | 0.83% | 0.83% | 0.82% | 0.62% | -0.58% | 2.43% | ||
| 2023 | 1.27% | -1.36% | 1.29% | -0.24% | -0.64% | 0.38% | 0.27% | -0.21% | -1.03% | 0.00% | 2.47% | 1.12% | 3.29% |
| 2022 | -1.23% | -0.26% | -1.35% | -0.96% | 0.69% | -0.23% | 0.90% | -0.99% | -1.30% | 0.03% | 1.57% | 0.16% | -2.97% |
| 2021 | 0.25% | -0.43% | 0.05% | 0.24% | -0.05% | 0.04% | 0.14% | -0.07% | -0.25% | -0.17% | 0.03% | -0.25% | -0.48% |
| 2020 | 0.60% | 0.39% | -0.76% | -0.10% | 1.67% | 0.18% | 0.57% | -0.02% | 0.08% | -0.13% | 0.26% | -0.13% | 2.64% |
| 2019 | 0.53% | 0.22% | 0.44% | 0.04% | 0.54% | 0.43% | 0.42% | 0.32% | -0.27% | 0.22% | 0.11% | 0.12% | 3.15% |
| 2018 | 0.02% | -0.09% | 0.02% | -0.28% | 0.42% | 0.22% | 0.21% | 0.02% | -0.28% | -0.08% | 0.33% | 0.43% | 0.95% |
| 2017 | 0.40% | 0.49% | 0.01% | 0.30% | 0.40% | -0.10% | 0.30% | 0.39% | -0.29% | 0.11% | -0.58% | 0.11% | 1.54% |
| 2016 | 0.47% | 0.18% | -0.21% | 0.28% | -0.11% | 0.48% | 0.19% | -0.02% | -0.30% | -0.10% | -1.09% | 0.20% | -0.04% |
| 2015 | 0.58% | -0.31% | -0.01% | -0.10% | -0.20% | 0.09% | 0.18% | -0.02% | 0.19% | 0.28% | -0.21% | -0.02% | 0.44% |
| 2014 | 0.37% | 0.29% | -0.40% | 0.28% | 0.28% | -0.01% | 0.09% | 0.27% | -0.11% | 0.09% | -0.01% | -0.21% | 0.95% |
| 2013 | 0.19% | 0.30% | 0.00% | 0.19% | -0.19% | -0.68% | 0.09% | -0.22% | 0.37% | 0.47% | -0.01% | -0.11% | 0.41% |
Expense Ratio
ASTEX features an expense ratio of 0.53%, falling within the medium range.
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current risk-adjusted rank of ASTEX is 81, placing it in the top 19% of mutual funds on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for American Funds Short-Term Tax Exempt Bond Fund (ASTEX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
American Funds Short-Term Tax Exempt Bond Fund provided a 2.47% dividend yield over the last twelve months, with an annual payout of $0.25 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.25 | $0.21 | $0.11 | $0.05 | $0.11 | $0.15 | $0.14 | $0.12 | $0.11 | $0.11 | $0.11 | $0.11 |
Dividend yield | 2.47% | 2.09% | 1.07% | 0.50% | 1.04% | 1.51% | 1.44% | 1.23% | 1.07% | 1.03% | 1.05% | 1.10% |
Monthly Dividends
The table displays the monthly dividend distributions for American Funds Short-Term Tax Exempt Bond Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.00 | $0.21 | |
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.21 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.11 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.05 |
| 2020 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.11 |
| 2019 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.15 |
| 2018 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.14 |
| 2017 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.12 |
| 2016 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.11 |
| 2015 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.11 |
| 2014 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.11 |
| 2013 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.11 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Worst Drawdowns
The table below displays the maximum drawdowns of the American Funds Short-Term Tax Exempt Bond Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the American Funds Short-Term Tax Exempt Bond Fund was 5.66%, occurring on Sep 29, 2022. Recovery took 438 trading sessions.
The current American Funds Short-Term Tax Exempt Bond Fund drawdown is 0.58%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -5.66% | Feb 11, 2021 | 412 | Sep 29, 2022 | 438 | Jun 28, 2024 | 850 |
| -4.46% | Mar 10, 2020 | 9 | Mar 20, 2020 | 44 | May 22, 2020 | 53 |
| -1.71% | Aug 1, 2016 | 87 | Dec 1, 2016 | 114 | May 17, 2017 | 201 |
| -1.36% | May 6, 2013 | 36 | Jun 25, 2013 | 143 | Jan 17, 2014 | 179 |
| -1.24% | Sep 1, 2010 | 96 | Jan 18, 2011 | 81 | May 13, 2011 | 177 |
Volatility
Volatility Chart
The current American Funds Short-Term Tax Exempt Bond Fund volatility is 0.62%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.