Shareholder Report
Jul. 31, 2026
USD ($)
Holding
(800) 421-4225.
What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class A | $62 | 0.61% |
Management's discussion of fund performance
The fund’s Class A shares gained 2.95% for the year ended July 31, 2026. That result compares with a 2.43% gain for the Bloomberg Municipal Short-Intermediate 1-10 Years Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-A.
What factors influenced results
During the fund’s fiscal year, municipal bonds posted positive returns. The U.S. economy remained resilient, though signs of labor market softening led the U.S. Federal Reserve to implement three 25-basis-point rate cuts. Interest rate volatility drove returns while credit spreads remained range-bound. The municipal yield curve remained steep, as demand for shorter maturities was consistently strong.
The yield curve positioning contributed to excess returns relative to the benchmark (the Bloomberg Municipal Short-Intermediate 1-10 Years Index). The portfolio was able to take advantage of the steep curve and be overweight the more attractive portion while being underweight where valuations were less attractive at the front end. Duration also made a slight positive contribution. Security selection in education and transportation both contributed to returns. The portfolio had a significant overweight to the housing sector that also contributed to relative returns.
There were no relative detractors from security or sector selection.
Average annual total returns
1 year | 5 years | 10 years | |
| Limited Term Tax-Exempt Bond Fund of America — Class A (with sales charge) * | 0.38 % | 0.61 % | 1.37 % |
| Limited Term Tax-Exempt Bond Fund of America — Class A (without sales charge) * | 2.95 % | 1.12 % | 1.63 % |
| Bloomberg Municipal Bond Index † | 5.27 % | 0.51 % | 1.95 % |
| Bloomberg Municipal Short-Intermediate 1-10 Years Index † | 2.43 % | 1.05 % | 1.72 % |
*
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.†
Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): Bloomberg Index Services Ltd.Key fund statistics
| Fund net assets (in millions) | $ 6,023 |
| Total number of portfolio holdings | 1,993 |
| Total advisory fees paid (in millions) | $ 13 |
| Portfolio turnover rate | 46 % |
Portfolio quality summary * (percent of net assets)
* 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.
Material fund changes
This is a summary of certain changes to the fund since August 1, 2025. For more complete information, you may review the fund’s next prospectus, which we expect to be available by October 1, 2026 at capitalgroup.com/mutual-fund-literature-A or upon request at (800) 421-4225.
On November 25, 2025, shareholders of the fund approved an amendment to the investment advisory and service agreement to remove the income component and revise the advisory fee schedule, effective March 1, 2026.
(800) 421-4225.
What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class C | $132 | 1.31% |
Management's discussion of fund performance
The fund’s Class C shares gained 2.23% for the year ended July 31, 2026. That result compares with a 2.43% gain for the Bloomberg Municipal Short-Intermediate 1-10 Years Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-C.
What factors influenced results
During the fund’s fiscal year, municipal bonds posted positive returns. The U.S. economy remained resilient, though signs of labor market softening led the U.S. Federal Reserve to implement three 25-basis-point rate cuts. Interest rate volatility drove returns while credit spreads remained range-bound. The municipal yield curve remained steep, as demand for shorter maturities was consistently strong.
The yield curve positioning contributed to excess returns relative to the benchmark (the Bloomberg Municipal Short-Intermediate 1-10 Years Index). The portfolio was able to take advantage of the steep curve and be overweight the more attractive portion while being underweight where valuations were less attractive at the front end. Duration also made a slight positive contribution. Security selection in education and transportation both contributed to returns. The portfolio had a significant overweight to the housing sector that also contributed to relative returns.
There were no relative detractors from security or sector selection.
Average annual total returns
1 year | 5 years | 10 years | |
| Limited Term Tax-Exempt Bond Fund of America — Class C (with sales charge) * | 1.23 % | 0.41 % | 1.05 % |
| Limited Term Tax-Exempt Bond Fund of America — Class C (without sales charge) * | 2.23 % | 0.41 % | 1.05 % |
| Bloomberg Municipal Bond Index † | 5.27 % | 0.51 % | 1.95 % |
| Bloomberg Municipal Short-Intermediate 1-10 Years Index † | 2.43 % | 1.05 % | 1.72 % |
*
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.†
Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): Bloomberg Index Services Ltd.Key fund statistics
| Fund net assets (in millions) | $ 6,023 |
| Total number of portfolio holdings | 1,993 |
| Total advisory fees paid (in millions) | $ 13 |
| Portfolio turnover rate | 46 % |
Portfolio quality summary * (percent of net assets)
* 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.
Material fund changes
This is a summary of certain changes to the fund since August 1, 2025. For more complete information, you may review the fund’s next prospectus, which we expect to be available by October 1, 2026 at capitalgroup.com/mutual-fund-literature-C or upon request at (800) 421-4225.
On November 25, 2025, shareholders of the fund approved an amendment to the investment advisory and service agreement to remove the income component and revise the advisory fee schedule, effective March 1, 2026.
(800) 421-4225.
What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class F-1 | $65 | 0.64% |
Management's discussion of fund performance
The fund’s Class F-1 shares gained 2.92% for the year ended July 31, 2026. That result compares with a 2.43% gain for the Bloomberg Municipal Short-Intermediate 1-10 Years Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-F1.
What factors influenced results
During the fund’s fiscal year, municipal bonds posted positive returns. The U.S. economy remained resilient, though signs of labor market softening led the U.S. Federal Reserve to implement three 25-basis-point rate cuts. Interest rate volatility drove returns while credit spreads remained range-bound. The municipal yield curve remained steep, as demand for shorter maturities was consistently strong.
The yield curve positioning contributed to excess returns relative to the benchmark (the Bloomberg Municipal Short-Intermediate 1-10 Years Index). The portfolio was able to take advantage of the steep curve and be overweight the more attractive portion while being underweight where valuations were less attractive at the front end. Duration also made a slight positive contribution. Security selection in education and transportation both contributed to returns. The portfolio had a significant overweight to the housing sector that also contributed to relative returns.
There were no relative detractors from security or sector selection.
Average annual total returns
1 year | 5 years | 10 years | |
| Limited Term Tax-Exempt Bond Fund of America — Class F-1 * | 2.92 % | 1.08 % | 1.59 % |
| Bloomberg Municipal Bond Index † | 5.27 % | 0.51 % | 1.95 % |
| Bloomberg Municipal Short-Intermediate 1-10 Years Index † | 2.43 % | 1.05 % | 1.72 % |
*
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.†
Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): Bloomberg Index Services Ltd.Key fund statistics
| Fund net assets (in millions) | $ 6,023 |
| Total number of portfolio holdings | 1,993 |
| Total advisory fees paid (in millions) | $ 13 |
| Portfolio turnover rate | 46 % |
Portfolio quality summary * (percent of net assets)
* 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.
Material fund changes
This is a summary of certain changes to the fund since August 1, 2025. For more complete information, you may review the fund’s next prospectus, which we expect to be available by October 1, 2026 at capitalgroup.com/mutual-fund-literature-F1 or upon request at (800) 421-4225.
On November 25, 2025, shareholders of the fund approved an amendment to the investment advisory and service agreement to remove the income component and revise the advisory fee schedule, effective March 1, 2026.
(800) 421-4225.
What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class F-2 | $39 | 0.38% |
Management's discussion of fund performance
The fund’s Class F-2 shares gained 3.19% for the year ended July 31, 2026. That result compares with a 2.43% gain for the Bloomberg Municipal Short-Intermediate 1-10 Years Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-F2.
What factors influenced results
During the fund’s fiscal year, municipal bonds posted positive returns. The U.S. economy remained resilient, though signs of labor market softening led the U.S. Federal Reserve to implement three 25-basis-point rate cuts. Interest rate volatility drove returns while credit spreads remained range-bound. The municipal yield curve remained steep, as demand for shorter maturities was consistently strong.
The yield curve positioning contributed to excess returns relative to the benchmark (the Bloomberg Municipal Short-Intermediate 1-10 Years Index). The portfolio was able to take advantage of the steep curve and be overweight the more attractive portion while being underweight where valuations were less attractive at the front end. Duration also made a slight positive contribution. Security selection in education and transportation both contributed to returns. The portfolio had a significant overweight to the housing sector that also contributed to relative returns.
There were no relative detractors from security or sector selection.
Average annual total returns
1 year | 5 years | 10 years | |
| Limited Term Tax-Exempt Bond Fund of America — Class F-2 * | 3.19 % | 1.35 % | 1.86 % |
| Bloomberg Municipal Bond Index † | 5.27 % | 0.51 % | 1.95 % |
| Bloomberg Municipal Short-Intermediate 1-10 Years Index † | 2.43 % | 1.05 % | 1.72 % |
*
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.†
Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): Bloomberg Index Services Ltd.Key fund statistics
| Fund net assets (in millions) | $ 6,023 |
| Total number of portfolio holdings | 1,993 |
| Total advisory fees paid (in millions) | $ 13 |
| Portfolio turnover rate | 46 % |
Portfolio quality summary * (percent of net assets)
* 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.
Material fund changes
This is a summary of certain changes to the fund since August 1, 2025. For more complete information, you may review the fund’s next prospectus, which we expect to be available by October 1, 2026 at capitalgroup.com/mutual-fund-literature-F2 or upon request at (800) 421-4225.
On November 25, 2025, shareholders of the fund approved an amendment to the investment advisory and service agreement to remove the income component and revise the advisory fee schedule, effective March 1, 2026.
(800) 421-4225.
What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class F-3 | $27 | 0.27% |
Management's discussion of fund performance
The fund’s Class F-3 shares gained 3.30% for the year ended July 31, 2026. That result compares with a 2.43% gain for the Bloomberg Municipal Short-Intermediate 1-10 Years Index. For information on returns for additional periods, including the fund lifetime, please refer to capitalgroup.com/mutual-fund-returns-F3.
What factors influenced results
During the fund’s fiscal year, municipal bonds posted positive returns. The U.S. economy remained resilient, though signs of labor market softening led the U.S. Federal Reserve to implement three 25-basis-point rate cuts. Interest rate volatility drove returns while credit spreads remained range-bound. The municipal yield curve remained steep, as demand for shorter maturities was consistently strong.
The yield curve positioning contributed to excess returns relative to the benchmark (the Bloomberg Municipal Short-Intermediate 1-10 Years Index). The portfolio was able to take advantage of the steep curve and be overweight the more attractive portion while being underweight where valuations were less attractive at the front end. Duration also made a slight positive contribution. Security selection in education and transportation both contributed to returns. The portfolio had a significant overweight to the housing sector that also contributed to relative returns.
There were no relative detractors from security or sector selection.
Average annual total returns
1 year | 5 years | Since inception 1 | |
| Limited Term Tax-Exempt Bond Fund of America — Class F-3 2 | 3.30 % | 1.46 % | 2.25 % |
| Bloomberg Municipal Bond Index 3 | 5.27 % | 0.51 % | 2.43 % |
| Bloomberg Municipal Short-Intermediate 1-10 Years Index 3 | 2.43 % | 1.05 % | 2.03 % |
1
Class F-3 shares were first offered on January 27, 2017.2
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.3
Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): Bloomberg Index Services Ltd.Key fund statistics
| Fund net assets (in millions) | $ 6,023 |
| Total number of portfolio holdings | 1,993 |
| Total advisory fees paid (in millions) | $ 13 |
| Portfolio turnover rate | 46 % |
Portfolio quality summary * (percent of net assets)
* 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.
Material fund changes
This is a summary of certain changes to the fund since August 1, 2025. For more complete information, you may review the fund’s next prospectus, which we expect to be available by October 1, 2026 at capitalgroup.com/mutual-fund-literature-F3 or upon request at (800) 421-4225.
On November 25, 2025, shareholders of the fund approved an amendment to the investment advisory and service agreement to remove the income component and revise the advisory fee schedule, effective March 1, 2026.
(800) 421-4225.
What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
| Share class | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Class R-6 | $27 | 0.27% |
Management's discussion of fund performance
The fund’s Class R-6 shares gained 3.30% for the year ended July 31, 2026. That result compares with a 2.43% gain for the Bloomberg Municipal Short-Intermediate 1-10 Years Index.
What factors influenced results
During the fund’s fiscal year, municipal bonds posted positive returns. The U.S. economy remained resilient, though signs of labor market softening led the U.S. Federal Reserve to implement three 25-basis-point rate cuts. Interest rate volatility drove returns while credit spreads remained range-bound. The municipal yield curve remained steep, as demand for shorter maturities was consistently strong.
The yield curve positioning contributed to excess returns relative to the benchmark (the Bloomberg Municipal Short-Intermediate 1-10 Years Index). The portfolio was able to take advantage of the steep curve and be overweight the more attractive portion while being underweight where valuations were less attractive at the front end. Duration also made a slight positive contribution. Security selection in education and transportation both contributed to returns. The portfolio had a significant overweight to the housing sector that also contributed to relative returns.
There were no relative detractors from security or sector selection.
Average annual total returns
1 year | 5 years | 10 years | |
| Limited Term Tax-Exempt Bond Fund of America — Class R-6 * | 3.30 % | 1.46 % | 1.96 % |
| Bloomberg Municipal Bond Index † | 5.27 % | 0.51 % | 1.95 % |
| Bloomberg Municipal Short-Intermediate 1-10 Years Index † | 2.43 % | 1.05 % | 1.72 % |
*
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.†
Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): Bloomberg Index Services Ltd.Key fund statistics
| Fund net assets (in millions) | $ 6,023 |
| Total number of portfolio holdings | 1,993 |
| Total advisory fees paid (in millions) | $ 13 |
| Portfolio turnover rate | 46 % |
Portfolio quality summary * (percent of net assets)
* 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.
Material fund changes
This is a summary of certain changes to the fund since August 1, 2025. For more complete information, you may review the fund’s next prospectus, which we expect to be available by October 1, 2026 at capitalgroup.com/mutual-fund-literature-R6 or upon request at (800) 421-4225.
On November 25, 2025, shareholders of the fund approved an amendment to the investment advisory and service agreement to remove the income component and revise the advisory fee schedule, effective March 1, 2026.