0000845376 2025-08-01 2026-01-31 0000845376 cik0000845376:C000025125Member 2025-08-01 2026-01-31 0000845376 cik0000845376:C000189424Member 2025-08-01 2026-01-31 0000845376 cik0000845376:C000079135Member 2025-08-01 2026-01-31 0000845376 cik0000845376:C000079136Member 2025-08-01 2026-01-31 0000845376 cik0000845376:C000179995Member 2025-08-01 2026-01-31 0000845376 cik0000845376:C000186457Member 2025-08-01 2026-01-31 0000845376 cik0000845376:C000025125Member 2026-01-31 0000845376 cik0000845376:C000025125Member cik0000845376:AAMember 2026-01-31 0000845376 cik0000845376:C000025125Member cik0000845376:BBBBaaMember 2026-01-31 0000845376 cik0000845376:C000025125Member cik0000845376:UnratedMember 2026-01-31 0000845376 cik0000845376:C000025125Member cik0000845376:ShortTermSecuritiesAndOtherAssetsLessLiabilitiesMember 2026-01-31 0000845376 cik0000845376:C000025125Member cik0000845376:AAAAaaMember 2026-01-31 0000845376 cik0000845376:C000025125Member cik0000845376:AAAaMember 2026-01-31 0000845376 cik0000845376:C000189424Member 2026-01-31 0000845376 cik0000845376:C000189424Member cik0000845376:AAAAaaMember 2026-01-31 0000845376 cik0000845376:C000189424Member cik0000845376:AAAaMember 2026-01-31 0000845376 cik0000845376:C000189424Member cik0000845376:AAMember 2026-01-31 0000845376 cik0000845376:C000189424Member cik0000845376:BBBBaaMember 2026-01-31 0000845376 cik0000845376:C000189424Member cik0000845376:UnratedMember 2026-01-31 0000845376 cik0000845376:C000189424Member cik0000845376:ShortTermSecuritiesAndOtherAssetsLessLiabilitiesMember 2026-01-31 0000845376 cik0000845376:C000079135Member 2026-01-31 0000845376 cik0000845376:C000079135Member cik0000845376:AAMember 2026-01-31 0000845376 cik0000845376:C000079135Member cik0000845376:BBBBaaMember 2026-01-31 0000845376 cik0000845376:C000079135Member cik0000845376:UnratedMember 2026-01-31 0000845376 cik0000845376:C000079135Member cik0000845376:ShortTermSecuritiesAndOtherAssetsLessLiabilitiesMember 2026-01-31 0000845376 cik0000845376:C000079135Member cik0000845376:AAAAaaMember 2026-01-31 0000845376 cik0000845376:C000079135Member cik0000845376:AAAaMember 2026-01-31 0000845376 cik0000845376:C000079136Member 2026-01-31 0000845376 cik0000845376:C000079136Member cik0000845376:AAMember 2026-01-31 0000845376 cik0000845376:C000079136Member cik0000845376:BBBBaaMember 2026-01-31 0000845376 cik0000845376:C000079136Member cik0000845376:UnratedMember 2026-01-31 0000845376 cik0000845376:C000079136Member cik0000845376:ShortTermSecuritiesAndOtherAssetsLessLiabilitiesMember 2026-01-31 0000845376 cik0000845376:C000079136Member cik0000845376:AAAAaaMember 2026-01-31 0000845376 cik0000845376:C000079136Member cik0000845376:AAAaMember 2026-01-31 0000845376 cik0000845376:C000179995Member 2026-01-31 0000845376 cik0000845376:C000179995Member cik0000845376:AAAAaaMember 2026-01-31 0000845376 cik0000845376:C000179995Member cik0000845376:AAAaMember 2026-01-31 0000845376 cik0000845376:C000179995Member cik0000845376:AAMember 2026-01-31 0000845376 cik0000845376:C000179995Member cik0000845376:BBBBaaMember 2026-01-31 0000845376 cik0000845376:C000179995Member cik0000845376:UnratedMember 2026-01-31 0000845376 cik0000845376:C000179995Member cik0000845376:ShortTermSecuritiesAndOtherAssetsLessLiabilitiesMember 2026-01-31 0000845376 cik0000845376:C000186457Member 2026-01-31 0000845376 cik0000845376:C000186457Member cik0000845376:AAAAaaMember 2026-01-31 0000845376 cik0000845376:C000186457Member cik0000845376:AAAaMember 2026-01-31 0000845376 cik0000845376:C000186457Member cik0000845376:AAMember 2026-01-31 0000845376 cik0000845376:C000186457Member cik0000845376:BBBBaaMember 2026-01-31 0000845376 cik0000845376:C000186457Member cik0000845376:UnratedMember 2026-01-31 0000845376 cik0000845376:C000186457Member cik0000845376:ShortTermSecuritiesAndOtherAssetsLessLiabilitiesMember 2026-01-31 iso4217:USD pure cik0000845376:Holding N-CSRS false 0000845376 N-1A 0.1799 0.0109 0.0157 0.0909 0.1894 0.5132 0.1894 0.5132 0.1799 0.0109 0.0157 0.0909 0.1799 0.0109 0.0157 0.0909 0.1894 0.5132 0.1799 0.0109 0.0157 0.0909 0.1894 0.5132 0.1894 0.5132 0.1799 0.0109 0.0157 0.0909 true 0.1894 0.5132 0.1799 0.0109 0.0157 0.0909 American Funds Short-Term Tax-Exempt Bond Fund 2026-01-31 American Funds Short-Term Tax-Exempt Bond Fund® Class A ASTEX This semi-annual shareholder report contains important information about American Funds Short-Term Tax-Exempt Bond Fund<div style="white-space: nowrap;display:inline;"> </div>(the "fund") for the period from August 1, 2025 to January 31, 2026. semi-annual shareholder report You can find additional information about the fund at <div style="text-decoration-line: underline; font-family: 'Times New Roman'; color: rgb(0, 95, 158); font-weight: bold; font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;">capitalgroup.com/mutual-fund-literature-A</div>. You can also request this information by contacting us at <div style="display:inline;">(800) 421-4225</div>. capitalgroup.com/mutual-fund-literature-A (800) 421-4225 <div style="margin-bottom: 6pt;"><div style="margin-top: 0; letter-spacing: normal; text-transform: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 13pt; color: rgb(0, 0, 0); margin-bottom: 0;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 13pt; color: rgb(0, 95, 158);font-weight:bolder;display:inline;width:100%;">What were the fund costs for the last six months?</div> (based on a hypothetical $10,000 investment)</div></div><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 0.5pt; margin-bottom: 3pt;"><tr style="break-after: avoid; border-bottom-style: none; border-bottom-width: initial; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 19.008pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; padding-top: 3pt; font-size: 10pt; line-height: 10pt; width: 126.9pt; padding-right: 6pt; padding-bottom: 3pt; padding-left: 6pt; font-family: 'Times New Roman'; font-weight: bold; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt;">Share class</td><td style="break-inside: avoid-page; padding-top: 3pt; font-size: 10pt; line-height: 10pt; width: 171.072pt; padding-right: 6pt; padding-bottom: 3pt; padding-left: 6pt; font-family: 'Times New Roman'; font-weight: bold; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt;">Costs of a $10,000 investment</td><td style="break-inside: avoid-page; padding-top: 3pt; font-size: 10pt; line-height: 10pt; width: 267.948pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-family: 'Times New Roman'; font-weight: bold; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right-color: initial; border-right-style: none; border-right-width: initial;">Costs paid as a percentage of a $10,000 investment</td></tr><tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 126.9pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;">Class A</td><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-family: 'Arial'; font-size: 10pt; line-height: 10pt; text-align: center; width: 171.072pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;"><div style="float: none;display:inline;">$</div>22</td><td style="break-inside: avoid-page; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 267.948pt; color: rgb(0, 0, 0); padding-right: 0; padding-left: 0; vertical-align: bottom;">0.43<div style="display:inline;">%</div><div style=";display:inline;vertical-align: super;font-size:9.2px">*</div></td></tr></table><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 8pt; line-height: 8.5pt; color: rgb(0, 0, 0); margin-bottom: 4pt;">*Annualized.</div> 22 0.0043 <div style="text-transform: none; margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 11pt; letter-spacing: normal; color: rgb(0, 95, 158); margin-top: 10pt;">Key fund statistics</div><table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid;"><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 0.5pt;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Fund net assets (in millions)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none;display:inline;">$</div>2,293</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total number of portfolio holdings</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">1,233</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Portfolio turnover rate</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">27<div style="display:inline;">%</div></td></tr></table> 2293000000 1233 0.27 <div style="padding-left: 10pt; margin-bottom: 7.5pt; padding-right: 0;"><div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 0, 0); margin-top: 10pt; margin-bottom: 2.0016pt; padding-bottom: 0; border-bottom-color: initial; padding-left: 27pt;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;">Portfolio quality summary</div> <div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;"> <div style=";display:inline;vertical-align: super;font-size:10.1px">*</div> </div> (<div style="display:inline;">percent </div>of n<div style="display:inline;">e</div>t <div style="display:inline;">assets</div>)</div></div><div style="padding-right: 0; display: inline-block; padding-left: 25pt;"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_1552538.jpg" style="float: right; width: 300pt;"/> </div><div style="padding-left: 10pt; padding-right: 0;"><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 32pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">*</div> Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard &amp; Poor’s, Moody’s and/or Fitch as an indication of an issuer’s creditworthiness. In assigning a credit rating to a security, the fund looks specifically to the ratings assigned to the issuer of the security by Standard &amp; Poor’s, Moody’s and/or Fitch. If agency ratings differ, the security will be considered to have received the highest of those ratings, consistent with the fund’s investment policies. Securities in the “unrated“ category (above) have not been rated by a rating agency; however, the investment adviser performs its own credit analysis and assigns comparable ratings that are used for compliance with the fund’s investment policies.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 4pt; margin-left: 32pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">†</div> Includes derivatives.</div></div> American Funds Short-Term Tax-Exempt Bond Fund® Class T TAFSX This semi-annual shareholder report contains important information about American Funds Short-Term Tax-Exempt Bond Fund (the "fund") for the period from August 1, 2025 to January 31, 2026. semi-annual shareholder report You can find additional information about the fund at <div style="text-decoration-line: underline; font-family: 'Times New Roman'; color: rgb(0, 95, 158); font-weight: bold; font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;">capitalgroup.com/mutual-fund-literature</div>. You can also request this information by contacting us at <div style="display:inline;"><div style="display:inline;">(800) 421-<div style="display:inline;">4225</div></div></div>. capitalgroup.com/mutual-fund-literature (800) 421-4225 <div style="margin-bottom: 6pt;"><div style="margin-top: 0; letter-spacing: normal; text-transform: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 13pt; color: rgb(0, 0, 0); margin-bottom: 0;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 13pt; color: rgb(0, 95, 158);font-weight:bolder;display:inline;width:100%;">What were the fund costs for the last six months?</div> (based on a hypothetical $10,000 investment)</div></div><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 0.5pt; margin-bottom: 3pt;"><tr style="break-after: avoid; border-bottom-style: none; border-bottom-width: initial; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 19.008pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; padding-top: 3pt; font-size: 10pt; line-height: 10pt; width: 126.9pt; padding-right: 6pt; padding-bottom: 3pt; padding-left: 6pt; font-family: 'Times New Roman'; font-weight: bold; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt;">Share class</td><td style="break-inside: avoid-page; padding-top: 3pt; font-size: 10pt; line-height: 10pt; width: 171.072pt; padding-right: 6pt; padding-bottom: 3pt; padding-left: 6pt; font-family: 'Times New Roman'; font-weight: bold; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt;">Costs of a $10,000 investment</td><td style="break-inside: avoid-page; padding-top: 3pt; font-size: 10pt; line-height: 10pt; width: 267.948pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-family: 'Times New Roman'; font-weight: bold; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right-color: initial; border-right-style: none; border-right-width: initial;">Costs paid as a percentage of a $10,000 investment</td></tr><tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 126.9pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;">Class T</td><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-family: 'Arial'; font-size: 10pt; line-height: 10pt; text-align: center; width: 171.072pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;"><div style="float: none;display:inline;">$</div>14</td><td style="break-inside: avoid-page; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 267.948pt; color: rgb(0, 0, 0); padding-right: 0; padding-left: 0; vertical-align: bottom;">0.28<div style="display:inline;">%</div><div style=";display:inline;vertical-align: super;font-size:9.2px">*</div></td></tr></table><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 8pt; line-height: 8.5pt; color: rgb(0, 0, 0); margin-bottom: 4pt;">*Annualized.</div> 14 0.0028 <div style="text-transform: none; margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 11pt; letter-spacing: normal; color: rgb(0, 95, 158); margin-top: 10pt;">Key fund statistics</div><table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid;"><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 0.5pt;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Fund net assets (in millions)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none;display:inline;">$</div>2,293</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total number of portfolio holdings</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">1,233</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Portfolio turnover rate</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">27<div style="display:inline;">%</div></td></tr></table> 2293000000 1233 0.27 <div style="padding-left: 10pt; margin-bottom: 7.5pt; padding-right: 0;"><div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 0, 0); margin-top: 10pt; margin-bottom: 2.0016pt; padding-bottom: 0; border-bottom-color: initial; padding-left: 27pt;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;">Portfolio quality summary</div> <div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;"> <div style=";display:inline;vertical-align: super;font-size:10.1px">*</div> </div> (<div style="display:inline;">percent </div>of net <div style="display:inline;">assets</div>)</div></div><div style="padding-right: 0; display: inline-block; padding-left: 25pt;"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_1552758.jpg" style="float: right; width: 300pt;"/> </div><div style="padding-left: 10pt; padding-right: 0;"><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 32pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">*</div> Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard &amp; Poor’s, Moody’s and/or Fitch as an indication of an issuer’s creditworthiness. In assigning a credit rating to a security, the fund looks specifically to the ratings assigned to the issuer of the security by Standard &amp; Poor’s, Moody’s and/or Fitch. If agency ratings differ, the security will be considered to have received the highest of those ratings, consistent with the fund’s investment policies. Securities in the “unrated“ category (above) have not been rated by a rating agency; however, the investment adviser performs its own credit analysis and assigns comparable ratings that are used for compliance with the fund’s investment policies.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 4pt; margin-left: 32pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">†</div> Includes derivatives.</div></div> American Funds Short-Term Tax-Exempt Bond Fund® Class F-1 FSTTX This semi-annual shareholder report contains important information about American Funds Short-Term Tax-Exempt Bond Fund (the "fund") for the period from August 1, 2025 to January 31, 2026. semi-annual shareholder report You can find additional information about the fund at <div style="text-decoration-line: underline; font-family: 'Times New Roman'; color: rgb(0, 95, 158); font-weight: bold; font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;">capitalgroup.com/mutual-fund-literature-F1</div>. You can also request this information by contacting us at <div style="display:inline;">(800) 421-4225</div>. capitalgroup.com/mutual-fund-literature-F1 (800) 421-4225 <div style="margin-bottom: 6pt;"><div style="margin-top: 0; letter-spacing: normal; text-transform: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 13pt; color: rgb(0, 0, 0); margin-bottom: 0;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 13pt; color: rgb(0, 95, 158);font-weight:bolder;display:inline;width:100%;">What were the fund costs for the last six months?</div> (based on a hypothetical $10,000 investment)</div></div><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 0.5pt; margin-bottom: 3pt;"><tr style="break-after: avoid; border-bottom-style: none; border-bottom-width: initial; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 19.008pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; padding-top: 3pt; font-size: 10pt; line-height: 10pt; width: 126.9pt; padding-right: 6pt; padding-bottom: 3pt; padding-left: 6pt; font-family: 'Times New Roman'; font-weight: bold; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt;">Share class</td><td style="break-inside: avoid-page; padding-top: 3pt; font-size: 10pt; line-height: 10pt; width: 171.072pt; padding-right: 6pt; padding-bottom: 3pt; padding-left: 6pt; font-family: 'Times New Roman'; font-weight: bold; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt;">Costs of a $10,000 investment</td><td style="break-inside: avoid-page; padding-top: 3pt; font-size: 10pt; line-height: 10pt; width: 267.948pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-family: 'Times New Roman'; font-weight: bold; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right-color: initial; border-right-style: none; border-right-width: initial;">Costs paid as a percentage of a $10,000 investment</td></tr><tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 126.9pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;">Class F-1</td><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-family: 'Arial'; font-size: 10pt; line-height: 10pt; text-align: center; width: 171.072pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;"><div style="float: none;display:inline;">$</div>31</td><td style="break-inside: avoid-page; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 267.948pt; color: rgb(0, 0, 0); padding-right: 0; padding-left: 0; vertical-align: bottom;">0.61<div style="display:inline;">%</div><div style=";display:inline;vertical-align: super;font-size:9.2px">*</div></td></tr></table><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 8pt; line-height: 8.5pt; color: rgb(0, 0, 0); margin-bottom: 4pt;">*Annualized.</div> 31 0.0061 <div style="text-transform: none; margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 11pt; letter-spacing: normal; color: rgb(0, 95, 158); margin-top: 10pt;">Key fund statistics</div><table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid;"><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 0.5pt;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Fund net assets (in millions)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none;display:inline;">$</div>2,293</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total number of portfolio holdings</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">1,233</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Portfolio turnover rate</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">27<div style="display:inline;">%</div></td></tr></table> 2293000000 1233 0.27 <div style="padding-left: 10pt; margin-bottom: 7.5pt; padding-right: 0;"><div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 0, 0); margin-top: 10pt; margin-bottom: 2.0016pt; padding-bottom: 0; border-bottom-color: initial; padding-left: 27pt;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;">Portfolio quality summary</div> <div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;"> <div style=";display:inline;vertical-align: super;font-size:10.1px">*</div> </div> (<div style="display:inline;">percent </div>of net <div style="display:inline;">assets</div>)</div></div><div style="padding-right: 0; display: inline-block; padding-left: 25pt;"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_1552582.jpg" style="float: right; width: 300pt;"/> </div><div style="padding-left: 10pt; padding-right: 0;"><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 32pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">*</div> Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard &amp; Poor’s, Moody’s and/or Fitch as an indication of an issuer’s creditworthiness. In assigning a credit rating to a security, the fund looks specifically to the ratings assigned to the issuer of the security by Standard &amp; Poor’s, Moody’s and/or Fitch. If agency ratings differ, the security will be considered to have received the highest of those ratings, consistent with the fund’s investment policies. Securities in the “unrated“ category (above) have not been rated by a rating agency; however, the investment adviser performs its own credit analysis and assigns comparable ratings that are used for compliance with the fund’s investment policies.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 4pt; margin-left: 32pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">†</div> Includes derivatives.</div></div> American Funds Short-Term Tax-Exempt Bond Fund® Class F-2 ASTFX This semi-annual shareholder report contains important information about American Funds Short-Term Tax-Exempt Bond Fund<div style="white-space: nowrap;display:inline;"> </div>(the "fund") for the period from August 1, 2025 to January 31, 2026. semi-annual shareholder report You can find additional information about the fund at <div style="text-decoration-line: underline; font-family: 'Times New Roman'; color: rgb(0, 95, 158); font-weight: bold; font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;">capitalgroup.com/mutual-fund-literature-F2</div>. You can also request this information by contacting us at <div style="display:inline;">(800) 421-4225</div>. capitalgroup.com/mutual-fund-literature-F2 (800) 421-4225 <div style="margin-bottom: 6pt;"><div style="margin-top: 0; letter-spacing: normal; text-transform: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 13pt; color: rgb(0, 0, 0); margin-bottom: 0;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 13pt; color: rgb(0, 95, 158);font-weight:bolder;display:inline;width:100%;">What were the fund costs for the last six months?</div> (based on a hypothetical $<div style="display:inline;">10,000 </div><div style="display:inline;">investment</div>)</div></div><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 0.5pt; margin-bottom: 3pt;"><tr style="break-after: avoid; border-bottom-style: none; border-bottom-width: initial; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 19.008pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; padding-top: 3pt; font-size: 10pt; line-height: 10pt; width: 126.9pt; padding-right: 6pt; padding-bottom: 3pt; padding-left: 6pt; font-family: 'Times New Roman'; font-weight: bold; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt;">Share class</td><td style="break-inside: avoid-page; padding-top: 3pt; font-size: 10pt; line-height: 10pt; width: 171.072pt; padding-right: 6pt; padding-bottom: 3pt; padding-left: 6pt; font-family: 'Times New Roman'; font-weight: bold; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt;">Costs of a $10,000 investment</td><td style="break-inside: avoid-page; padding-top: 3pt; font-size: 10pt; line-height: 10pt; width: 267.948pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-family: 'Times New Roman'; font-weight: bold; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right-color: initial; border-right-style: none; border-right-width: initial;">Costs paid as a percentage of a $10,000 investment</td></tr><tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 126.9pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;">Class F-2</td><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-family: 'Arial'; font-size: 10pt; line-height: 10pt; text-align: center; width: 171.072pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;"><div style="float: none;display:inline;">$</div>16</td><td style="break-inside: avoid-page; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 267.948pt; color: rgb(0, 0, 0); padding-right: 0; padding-left: 0; vertical-align: bottom;">0.31<div style="display:inline;">%</div><div style=";display:inline;vertical-align: super;font-size:9.2px">*</div></td></tr></table><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 8pt; line-height: 8.5pt; color: rgb(0, 0, 0); margin-bottom: 4pt;">*Annualized.</div> 16 0.0031 <div style="text-transform: none; margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 11pt; letter-spacing: normal; color: rgb(0, 95, 158); margin-top: 10pt;">Key fund statistics</div><table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid;"><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 0.5pt;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Fund net assets (in millions)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none;display:inline;">$</div>2,293</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total number of portfolio holdings</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">1,233</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Portfolio turnover rate</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">27<div style="display:inline;">%</div></td></tr></table> 2293000000 1233 0.27 <div style="padding-left: 10pt; margin-bottom: 7.5pt; padding-right: 0;"><div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 0, 0); margin-top: 10pt; margin-bottom: 2.0016pt; padding-bottom: 0; border-bottom-color: initial; padding-left: 27pt;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;">Portfolio quality summary</div> <div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;"> <div style=";display:inline;vertical-align: super;font-size:10.1px">*</div> </div> (percent of net assets)</div></div><div style="padding-right: 0; display: inline-block; padding-left: 25pt;"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_1552626.jpg" style="float: right; width: 300pt;"/> </div><div style="padding-left: 10pt; padding-right: 0;"><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 32pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">*</div> Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard &amp; Poor’s, Moody’s and/or Fitch as an indication of an issuer’s creditworthiness. In assigning a credit rating to a security, the fund looks specifically to the ratings assigned to the issuer of the security by Standard &amp; Poor’s, Moody’s and/or Fitch. If agency ratings differ, the security will be considered to have received the highest of those ratings, consistent with the fund’s investment policies. Securities in the “unrated“ category (above) have not been rated by a rating agency; however, the investment adviser performs its own credit analysis and assigns comparable ratings that are used for compliance with the fund’s investment policies.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 4pt; margin-left: 32pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">†</div> Includes derivatives.</div></div> American Funds Short-Term Tax-Exempt Bond Fund® Class F-3 SFTEX This semi-annual shareholder report contains important information about American Funds Short-Term Tax-Exempt Bond Fund (the "fund") for the period from August 1, 2025 to January 31, 2026. semi-annual shareholder report You can find additional information about the fund at <div style="text-decoration-line: underline; font-family: 'Times New Roman'; color: rgb(0, 95, 158); font-weight: bold; font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;">capitalgroup.com/mutual-fund-literature-F3</div>. You can also request this information by contacting us at <div style="display:inline;">(800) 421-4225</div>. capitalgroup.com/mutual-fund-literature-F3 (800) 421-4225 <div style="margin-bottom: 6pt;"><div style="margin-top: 0; letter-spacing: normal; text-transform: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 13pt; color: rgb(0, 0, 0); margin-bottom: 0;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 13pt; color: rgb(0, 95, 158);font-weight:bolder;display:inline;width:100%;">What were the fund costs for the last six months?</div> (based on a hypothetical $10,000 <div style="display:inline;">investment</div>)</div></div><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 0.5pt; margin-bottom: 3pt;"><tr style="break-after: avoid; border-bottom-style: none; border-bottom-width: initial; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 19.008pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; padding-top: 3pt; font-size: 10pt; line-height: 10pt; width: 126.9pt; padding-right: 6pt; padding-bottom: 3pt; padding-left: 6pt; font-family: 'Times New Roman'; font-weight: bold; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt;">Share class</td><td style="break-inside: avoid-page; padding-top: 3pt; font-size: 10pt; line-height: 10pt; width: 171.072pt; padding-right: 6pt; padding-bottom: 3pt; padding-left: 6pt; font-family: 'Times New Roman'; font-weight: bold; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt;">Costs of a $10,000 investment</td><td style="break-inside: avoid-page; padding-top: 3pt; font-size: 10pt; line-height: 10pt; width: 267.948pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-family: 'Times New Roman'; font-weight: bold; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right-color: initial; border-right-style: none; border-right-width: initial;">Costs paid as a percentage of a $10,000 investment</td></tr><tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 126.9pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;">Class F-3</td><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-family: 'Arial'; font-size: 10pt; line-height: 10pt; text-align: center; width: 171.072pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;"><div style="float: none;display:inline;">$</div>13</td><td style="break-inside: avoid-page; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 267.948pt; color: rgb(0, 0, 0); padding-right: 0; padding-left: 0; vertical-align: bottom;">0.25<div style="display:inline;">%</div><div style=";display:inline;vertical-align: super;font-size:9.2px">*</div></td></tr></table><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 8pt; line-height: 8.5pt; color: rgb(0, 0, 0); margin-bottom: 4pt;">*Annualized.</div> 13 0.0025 <div style="text-transform: none; margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 11pt; letter-spacing: normal; color: rgb(0, 95, 158); margin-top: 10pt;">Key fund statistics</div><table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid;"><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 0.5pt;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Fund net assets (in millions)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none;display:inline;">$</div>2,293</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total number of portfolio holdings</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">1,233</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Portfolio turnover rate</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">27<div style="display:inline;">%</div></td></tr></table> 2293000000 1233 0.27 <div style="padding-left: 10pt; margin-bottom: 7.5pt; padding-right: 0;"><div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 0, 0); margin-top: 10pt; margin-bottom: 2.0016pt; padding-bottom: 0; border-bottom-color: initial; padding-left: 27pt;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;">Portfolio quality summary</div> <div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;"> <div style=";display:inline;vertical-align: super;font-size:10.1px">*</div> </div> (percent of net <div style="display:inline;">assets</div>)</div></div><div style="padding-right: 0; display: inline-block; padding-left: 25pt;"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_1552670.jpg" style="float: right; width: 300pt;"/> </div><div style="padding-left: 10pt; padding-right: 0;"><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 32pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">*</div> Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard &amp; Poor’s, Moody’s and/or Fitch as an indication of an issuer’s creditworthiness. In assigning a credit rating to a security, the fund looks specifically to the ratings assigned to the issuer of the security by Standard &amp; Poor’s, Moody’s and/or Fitch. If agency ratings differ, the security will be considered to have received the highest of those ratings, consistent with the fund’s investment policies. Securities in the “unrated“ category (above) have not been rated by a rating agency; however, the investment adviser performs its own credit analysis and assigns comparable ratings that are used for compliance with the fund’s investment policies.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 4pt; margin-left: 32pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">†</div> Includes derivatives.</div></div> American Funds Short-Term Tax-Exempt Bond Fund® Class R-6 This semi-annual shareholder report contains important information about American Funds Short-Term Tax-Exempt Bond <div style="display:inline;">Fund </div>(the "fund") for the period from August 1, 2025 to January 31, 2026. semi-annual shareholder report You can find additional information about the fund at <div style="text-decoration-line: underline; font-family: 'Times New Roman'; color: rgb(0, 95, 158); font-weight: bold; font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;">capitalgroup.com/mutual-fund-literature-R6</div>. You can also request this information by contacting us at <div style="display:inline;">(800) 421-4225</div>. capitalgroup.com/mutual-fund-literature-R6 (800) 421-4225 <div style="margin-bottom: 6pt;"><div style="margin-top: 0; letter-spacing: normal; text-transform: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 13pt; color: rgb(0, 0, 0); margin-bottom: 0;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 13pt; color: rgb(0, 95, 158);font-weight:bolder;display:inline;width:100%;">What were the fund costs for the last six months?</div> (based on a hypothetical $10,000 investment)</div></div><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 0.5pt; margin-bottom: 3pt;"><tr style="break-after: avoid; border-bottom-style: none; border-bottom-width: initial; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 19.008pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; padding-top: 3pt; font-size: 10pt; line-height: 10pt; width: 126.9pt; padding-right: 6pt; padding-bottom: 3pt; padding-left: 6pt; font-family: 'Times New Roman'; font-weight: bold; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt;">Share class</td><td style="break-inside: avoid-page; padding-top: 3pt; font-size: 10pt; line-height: 10pt; width: 171.072pt; padding-right: 6pt; padding-bottom: 3pt; padding-left: 6pt; font-family: 'Times New Roman'; font-weight: bold; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt;">Costs of a $10,000 investment</td><td style="break-inside: avoid-page; padding-top: 3pt; font-size: 10pt; line-height: 10pt; width: 267.948pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-family: 'Times New Roman'; font-weight: bold; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right-color: initial; border-right-style: none; border-right-width: initial;">Costs paid as a percentage of a $10,000 investment</td></tr><tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 126.9pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;">Class R-6</td><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-family: 'Arial'; font-size: 10pt; line-height: 10pt; text-align: center; width: 171.072pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;"><div style="float: none;display:inline;">$</div>12</td><td style="break-inside: avoid-page; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 267.948pt; color: rgb(0, 0, 0); padding-right: 0; padding-left: 0; vertical-align: bottom;">0.23<div style="display:inline;">%</div><div style=";display:inline;vertical-align: super;font-size:9.2px">*</div></td></tr></table><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 8pt; line-height: 8.5pt; color: rgb(0, 0, 0); margin-bottom: 4pt;">*Annualized.</div> 12 0.0023 <div style="text-transform: none; margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 11pt; letter-spacing: normal; color: rgb(0, 95, 158); margin-top: 10pt;">Key fund statistics</div><table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid;"><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 0.5pt;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Fund net assets (in millions)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none;display:inline;">$</div>2,293</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total number of portfolio holdings</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">1,233</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Portfolio turnover rate</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">27<div style="display:inline;">%</div></td></tr></table> 2293000000 1233 0.27 <div style="padding-left: 10pt; margin-bottom: 7.5pt; padding-right: 0;"><div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 0, 0); margin-top: 10pt; margin-bottom: 2.0016pt; padding-bottom: 0; border-bottom-color: initial; padding-left: 27pt;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;">Portfolio quality summary</div> <div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;"> <div style=";display:inline;vertical-align: super;font-size:10.1px">*</div> </div> (percent of net <div style="display:inline;">assets</div>)</div></div><div style="padding-right: 0; display: inline-block; padding-left: 25pt;"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_1552714.jpg" style="float: right; width: 300pt;"/> </div><div style="padding-left: 10pt; padding-right: 0;"><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 32pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">*</div> Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard &amp; Poor’s, Moody’s and/or Fitch as an indication of an issuer’s creditworthiness. In assigning a credit rating to a security, the fund looks specifically to the ratings assigned to the issuer of the security by Standard &amp; Poor’s, Moody’s and/or Fitch. If agency ratings differ, the security will be considered to have received the highest of those ratings, consistent with the fund’s investment policies. Securities in the “unrated“ category (above) have not been rated by a rating agency; however, the investment adviser performs its own credit analysis and assigns comparable ratings that are used for compliance with the fund’s investment policies.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 4pt; margin-left: 32pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">†</div> Includes derivatives.</div></div> Annualized. Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard & Poor’s, Moody’s and/or Fitch as an indication of an issuer’s creditworthiness. In assigning a credit rating to a security, the fund looks specifically to the ratings assigned to the issuer of the security by Standard & Poor’s, Moody’s and/or Fitch. If agency ratings differ, the security will be considered to have received the highest of those ratings, consistent with the fund’s investment policies. Securities in the “unrated“ category (above) have not been rated by a rating agency; however, the investment adviser performs its own credit analysis and assigns comparable ratings that are used for compliance with the fund’s investment policies. Includes derivatives.