# EDGAR Filing Document

**Accession Number:** 0001368040
**File Stem:** 0000051931-25-001198
**Filing Date:** 2025-10
**Character Count:** 38595
**Document Hash:** 7f53f89fc591cf8251a56ebb7270f0e3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000051931-25-001198.hdr.sgml**: 20251031

**ACCESSION NUMBER**: 0000051931-25-001198

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20251031

**DATE AS OF CHANGE**: 20251031

**EFFECTIVENESS DATE**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Short-Term Bond Fund of America
- **CENTRAL INDEX KEY:** 0001368040

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-135770
- **FILM NUMBER:** 251438951

**BUSINESS ADDRESS:**
- **STREET 1:** 333 S HOPE ST - 55TH FL
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071
- **BUSINESS PHONE:** 213-486-9200

**MAIL ADDRESS:**
- **STREET 1:** 333 S HOPE ST - 55TH FL
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071

## Series and Classes Contracts Data

### Short-Term Bond Fund of America (Series ID: S000013585)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000036818 | Class A       | ASBAX           |
| C000036819 | Class F-1     | ASBFX           |
| C000036820 | Class 529-A   | CAAFX           |
| C000036821 | Class 529-F-1 | CFAMX           |
| C000036822 | Class R-1     | RAMAX           |
| C000036823 | Class R-2     | RAMBX           |
| C000036824 | Class R-3     | RAMCX           |
| C000036825 | Class R-4     | RAMEX           |
| C000036826 | Class R-5     | RAMFX           |
| C000037879 | Class C       | ASBCX           |
| C000037881 | Class 529-C   | CCAMX           |
| C000037882 | Class 529-E   | CEAMX           |
| C000068533 | Class F-2     | SBFFX           |
| C000077916 | Class R-6     | RMMGX           |
| C000148417 | Class R-2E    | RAAEX           |
| C000164812 | Class R-5E    | RAAGX           |
| C000180010 | Class F-3     | FSBTX           |
| C000189523 | Class 529-T   | TTSBX           |
| C000189524 | Class T       | TSTBX           |
| C000224563 | Class 529-F-2 | FTSBX           |
| C000224564 | Class 529-F-3 | FFTSX           |

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| | |
|:---|:---|
| **Short-Term Bond<br> Fund of America<sup>®</sup>**<br> Summary prospectus<br> November 1, 2025 | ![](image_001.jpg) |

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Class** | A | C | T | F-1 | F-2 | F-3 | 529-A | 529-C | 529-E | 529-T | 529-F-1 |
|  | ASBAX | ASBCX | TSTBX | ASBFX | SBFFX | FSBTX | CAAFX | CCAMX | CEAMX | TTSBX | CFAMX |
| &nbsp;&nbsp;Class | 529-F-2 | 529-F-3 | R-1 | R-2 | R-2E | R-3 | R-4 | R-5E | R-5 | R-6 |  |
|  | FTSBX | FFTSX | RAMAX | RAMBX | RAAEX | RAMCX | RAMEX | RAAGX | RAMFX | RMMGX |  |

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**Before you invest, you may want to review the fund's prospectus and statement of additional information, which contain more information about the fund and its risks. You can find the fund's prospectus, statement of additional information, reports to shareholders and other information about the fund online at capitalgroup.com/prospectus. You can also get this information at no cost by calling (800) 421-4225 or by sending an email request to prospectus@americanfunds.com. The current prospectus and statement of additional information, dated November 1, 2025, are incorporated by reference into this summary prospectus.**

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Investment objective The fund's investment objective is to provide you with current income, consistent with the maturity and quality standards described in this prospectus, and preservation of capital.

Fees and expenses of the fund This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.** For example, in addition to the fees and expenses described below, you may also be required to pay brokerage commissions on purchases and sales of Class F-2, F-3, 529-F-2 or 529-F-3 shares of the fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $100,000 in American Funds, Capital Group KKR Public-Private+ Funds, and/or Emerging Markets Equities Fund, Inc. (collectively "Capital Group Funds") ($500,000 for Class 529-A shares). More information about these and other discounts is available from your financial professional, in the "Sales charge reductions and waivers" sections on page 40 of the prospectus and on page 81 of the fund's statement of additional information, and in the sales charge waiver appendix to the prospectus.

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Shareholder fees** **(fees paid directly from your investment)** | **Shareholder fees** **(fees paid directly from your investment)** | **Shareholder fees** **(fees paid directly from your investment)** | **Shareholder fees** **(fees paid directly from your investment)** | **Shareholder fees** **(fees paid directly from your investment)** | **Shareholder fees** **(fees paid directly from your investment)** | **Shareholder fees** **(fees paid directly from your investment)** | **Shareholder fees** **(fees paid directly from your investment)** |
| Share class: | A | 529-A | **C and** <br>**529-C** | 529-E | **T and**<br>**529-T** | All F and 529-F share classes | **All R**<br>**share**<br>**classes** |
| Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | 2.50% | 2.50% |  |  | 2.50% |  |  |
| Maximum deferred sales charge (load) (as a percentage of the amount redeemed) | 0.75\* | 1.00\* | 1.00% |  |  |  |  |
| Maximum sales charge (load) imposed on reinvested dividends |  |  |  |  |  |  |  |
| Redemption or exchange fees |  |  |  |  |  |  |  |

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1&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Bond Fund of America / Summary prospectus

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Annual fund operating expenses** **(expenses that you pay each year as a percentage of the net asset value of your investment)** | **Annual fund operating expenses** **(expenses that you pay each year as a percentage of the net asset value of your investment)** | **Annual fund operating expenses** **(expenses that you pay each year as a percentage of the net asset value of your investment)** | **Annual fund operating expenses** **(expenses that you pay each year as a percentage of the net asset value of your investment)** | **Annual fund operating expenses** **(expenses that you pay each year as a percentage of the net asset value of your investment)** | **Annual fund operating expenses** **(expenses that you pay each year as a percentage of the net asset value of your investment)** | **Annual fund operating expenses** **(expenses that you pay each year as a percentage of the net asset value of your investment)** | **Annual fund operating expenses** **(expenses that you pay each year as a percentage of the net asset value of your investment)** |
| Share class: | A | C | T | F-1 | F-2 | F-3 | 529-A |
| Management fees | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| Distribution and/or service (12b-1) fees | 0.30 | 1.00 | 0.25 | 0.25 |  |  | 0.23 |
| Other expenses | 0.13 | 0.13 | 0.12 | 0.17 | 0.15 | 0.04 | 0.18 |
| Total annual fund operating expenses | 0.68 | 1.38 | 0.62 | 0.67 | 0.40 | 0.29 | 0.66 |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Share class: | 529-C | 529-E | 529-T | 529-F-1 | 529-F-2 | 529-F-3 | R-1 |
| Management fees | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| Distribution and/or service (12b-1) fees | 1.00 | 0.49 | 0.25 | 0.25 |  |  | 1.00 |
| Other expenses | 0.18 | 0.13 | 0.17 | 0.22 | 0.14 | 0.09 | 0.13 |
| Total annual fund operating expenses | 1.43 | 0.87 | 0.67 | 0.72 | 0.39 | 0.34 | 1.38 |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Share class: | R-2 | R-2E | R-3 | R-4 | R-5E | R-5 | R-6 |
| Management fees | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| Distribution and/or service (12b-1) fees | 0.75 | 0.60 | 0.50 | 0.25 |  |  |  |
| Other expenses | 0.35 | 0.18 | 0.17 | 0.12 | 0.19 | 0.09 | 0.04 |
| Total annual fund operating expenses | 1.35 | 1.03 | 0.92 | 0.62 | 0.44 | 0.34 | 0.29 |

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<sup>\*</sup>A contingent deferred sales charge of 0.75% for Class A shares and 1.00% for Class 529-A shares applies on certain redemptions made within 18 months following purchases of $250,000 or more for Class A and $1 million or more for Class 529-A made without an initial sales charge. Contingent deferred sales charge is calculated based on the lesser of the offering price and market value of shares being sold.

Short-Term Bond Fund of America / Summary prospectus&nbsp;&nbsp;&nbsp;&nbsp; 2

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

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

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Share class: | A | C | T | F-1 | F-2 | F-3 | 529-A | 529-C | 529-E | 529-T | 529-F-1 | 529-F-2 | 529-F-3 | R-1 |
| 1 year | $318 | $240 | $312 | $68 | $41 | $30 | $316 | $246 | $89 | $317 | $74 | $40 | $35 | $140 |
| 3 years | 462 | 437 | 444 | 214 | 128 | 93 | 456 | 452 | 278 | 459 | 230 | 125 | 109 | 437 |
| 5 years | 619 | 755 | 587 | 373 | 224 | 163 | 609 | 782 | 482 | 614 | 401 | 219 | 191 | 755 |
| 10 years | 1075 | 1466 | 1005 | 835 | 505 | 368 | 1052 | 1220 | 1073 | 1064 | 894 | 493 | 431 | 1657 |

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| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Share class: | R-2 | R-2E | R-3 | R-4 | R-5E | R-5 | R-6 | For the share classes listed to the right, you would pay the following if you did not redeem your shares: | Share class: | C | 529-C |
| 1 year | $137 | $105 | $94 | $63 | $45 | $35 | $30 | For the share classes listed to the right, you would pay the following if you did not redeem your shares: | 1 year | $140 | $146 |
| 3 years | 428 | 328 | 293 | 199 | 141 | 109 | 93 | For the share classes listed to the right, you would pay the following if you did not redeem your shares: | 3 years | 437 | 452 |
| 5 years | 739 | 569 | 509 | 346 | 246 | 191 | 163 | For the share classes listed to the right, you would pay the following if you did not redeem your shares: | 5 years | 755 | 782 |
| 10 years | 1624 | 1259 | 1131 | 774 | 555 | 431 | 368 | For the share classes listed to the right, you would pay the following if you did not redeem your shares: | 10 years | 1466 | 1220 |

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**Portfolio turnover** The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund's investment results. During the most recent fiscal year, the fund's portfolio turnover rate was 232% of the average value of its portfolio.

3&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Bond Fund of America / Summary prospectus

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Principal investment strategies The fund will invest at least 80% of its assets in bonds (bonds include any debt instrument and cash equivalents, and may be represented by derivatives). The fund maintains a portfolio of bonds, other debt securities and money market instruments having a dollar-weighted average effective maturity no greater than three years and consisting primarily of debt securities rated AA– or Aa3 or better by Nationally Recognized Statistical Rating Organizations designated by the fund's investment adviser or unrated but determined to be of equivalent quality by the fund's investment adviser. The fund may invest up to 10% of its assets in debt securities in the A rating category or in unrated securities determined by the fund's investment adviser to be of equivalent quality.

The fund primarily invests in debt securities denominated in U.S. dollars, including securities issued and guaranteed by the U.S. government, securities of corporate issuers, mortgage-backed securities and debt securities and mortgage-backed securities issued by government sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government. In addition, the fund may invest in asset-backed securities (securities backed by assets such as auto loans, credit card receivables or other providers of credit).

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

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

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

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

Short-Term Bond Fund of America / Summary prospectus&nbsp;&nbsp;&nbsp;&nbsp; 4

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Principal risks **This section describes the principal risks associated with investing in the fund. You may lose money by investing in the fund. The likelihood of loss may be greater if you invest for a shorter period of time.** 

*Market conditions* — The prices of, and the income generated by, the securities held by the fund may decline – sometimes rapidly or unpredictably – due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; and currency exchange rate, interest rate and commodity price fluctuations.

Economies and financial markets throughout the world are highly interconnected. Economic, financial or political events, trading and tariff arrangements, wars, terrorism, cybersecurity events, natural disasters, public health emergencies (such as the spread of infectious disease), bank failures and other circumstances in one country or region, including actions taken by governmental or quasi-governmental authorities in response to any of the foregoing, could have impacts on global economies or markets. As a result, whether or not the fund invests in securities of issuers located in or with significant exposure to the countries affected, the value and liquidity of the fund's investments may be negatively affected by developments in other countries and regions.

*Issuer risks* — The prices of, and the income generated by, securities held by the fund may decline in response to various factors directly related to the issuers of such securities, including reduced demand for an issuer's goods or services, poor management performance, major litigation, investigations or other controversies related to the issuer, changes in the issuer's financial condition or credit rating, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives such as mergers, acquisitions or dispositions and the market response to any such initiatives. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer.

*Investing in debt instruments* — The prices of, and the income generated by, bonds and other debt securities held by the fund may be affected by factors such as the interest rates, maturities and credit quality of these securities.

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change in interest rates may cause investors to sell debt securities on a large scale, which could also adversely affect the price and liquidity of debt securities and could also result in increased redemptions from the fund. Falling interest rates may cause an issuer to redeem, call or refinance a debt security before its stated maturity, which may result in the fund having to reinvest the proceeds in lower yielding securities. Longer maturity debt securities generally have greater sensitivity to changes in interest rates and may be subject to greater price fluctuations than shorter maturity debt securities.

Bonds and other debt securities are also subject to credit risk, which is the possibility that the credit strength of an issuer or guarantor will weaken or be perceived to be weaker,

5&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Bond Fund of America / Summary prospectus

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and/or an issuer of a debt security will fail to make timely payments of principal or interest and the security will go into default. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund's securities could cause the value of the fund's shares to decrease. Lower quality debt securities generally have higher rates of interest and may be subject to greater price fluctuations than higher quality debt securities. Credit risk is gauged, in part, by the credit ratings of the debt securities in which the fund invests. However, ratings are only the opinions of the rating agencies issuing them and are not guarantees as to credit quality or an evaluation of market risk. The fund's investment adviser relies on its own credit analysts to research issuers and issues in assessing credit and default risks.

*Investing in mortgage-related and other asset-backed securities* — Mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, include debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as consumer loans or receivables. While such securities are subject to the risks associated with investments in debt instruments generally (for example, credit, extension and interest rate risks), they are also subject to other and different risks. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt, potentially increasing the volatility of the securities and the fund's net asset value. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the fund having to reinvest the proceeds in lower yielding securities, effectively reducing the fund's income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the fund's cash available for reinvestment in higher yielding securities. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations and the value of property that secures the mortgages may decline in value and be insufficient, upon foreclosure, to repay the associated loans. Investments in asset-backed securities are subject to similar risks.

*Investing in securities backed by the U.S. government* — U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates and the credit rating of the U.S. government. Notwithstanding that these securities are backed by the full faith and credit of the U.S. government, circumstances could arise that would prevent or delay the payment of interest or principal on these securities, which could adversely affect their value and cause the fund to suffer losses. Such an event could lead to significant disruptions in U.S. and global markets.

Securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government.

*Liquidity risk* — Certain fund holdings may be or may become difficult or impossible to sell, particularly during times of market turmoil. Liquidity may be impacted by the lack of an active market for a holding, legal or contractual restrictions on resale, or the reduced number and capacity of market participants to make a market in such holding. Market prices for less liquid or illiquid holdings may be volatile or difficult to determine, and

Short-Term Bond Fund of America / Summary prospectus&nbsp;&nbsp;&nbsp;&nbsp; 6

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reduced liquidity may have an adverse impact on the market price of such holdings. Additionally, the sale of less liquid or illiquid holdings may involve substantial delays (including delays in settlement) and additional costs and the fund may be unable to sell such holdings when necessary to meet its liquidity needs or to try to limit losses, or may be forced to sell at a loss.

*Investing in inflation-linked bonds* — The values of inflation-linked bonds generally fluctuate in response to changes in real interest rates — i.e., rates of interest after factoring in inflation. A rise in real interest rates may cause the prices of inflation-linked securities to fall, while a decline in real interest rates may cause the prices to increase. Inflation-linked bonds may experience greater losses than other debt securities with similar durations when real interest rates rise faster than nominal interest rates. There can be no assurance that the value of an inflation-linked security will be directly correlated to changes in interest rates; for example, if interest rates rise for reasons other than inflation, the increase may not be reflected in the security's inflation measure.

Investing in inflation-linked bonds may also reduce the fund's distributable income during periods of deflation. If prices for goods and services decline throughout the economy, the principal and income on inflation-linked securities may decline and result in losses to the fund.

*Investing outside the United States* — Securities of issuers domiciled outside the United States or with significant operations or revenues outside the United States, and securities tied economically to countries outside the United States, may lose value because of adverse political, social, economic or market developments (including social instability, regional conflicts, terrorism and war) in the countries or regions in which the issuers are domiciled, operate or generate revenue or to which the securities are tied economically. These securities may also lose value due to changes in foreign currency exchange rates against the U.S. dollar and/or currencies of other countries. Issuers of these securities may be more susceptible to actions of foreign governments, such as nationalization, currency blockage or the imposition of price controls, sanctions, or punitive taxes, each of which could adversely impact the value of these securities. Securities markets in certain countries may be more volatile and/or less liquid than those in the United States. Investments outside the United States may also be subject to different regulatory, legal, accounting, auditing, financial reporting and recordkeeping requirements, and may be more difficult to value, than those in the United States. In addition, the value of investments outside the United States may be reduced by foreign taxes, including foreign withholding taxes on interest and dividends. Further, there may be increased risks of delayed settlement of securities purchased or sold by the fund, which could impact the liquidity of the fund's portfolio. The risks of investing outside the United States may be heightened in connection with investments in emerging markets.

*Investing in derivatives* — The use of derivatives involves a variety of risks, which may be different from, or greater than, the risks associated with investing in traditional securities, such as stocks and bonds. Changes in the value of a derivative may not correlate perfectly with, and may be more sensitive to market events than, the underlying asset, rate or index, and a derivative instrument may cause the fund to lose significantly more than its initial investment. Derivatives may be difficult to value, difficult for the fund to buy or sell at an opportune time or price and difficult, or even impossible, to terminate or otherwise offset. The fund's use of derivatives may result in losses to the fund, and investing in derivatives may reduce the fund's returns and increase the fund's price

7&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Bond Fund of America / Summary prospectus

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volatility. The fund's counterparty to a derivative transaction (including, if applicable, the fund's clearing broker, the derivatives exchange or the clearinghouse) may be unable or unwilling to honor its financial obligations in respect of the transaction. In certain cases, the fund may be hindered or delayed in exercising remedies against or closing out derivative instruments with a counterparty, which may result in additional losses. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

*Investments in future delivery contracts* — The fund may enter into transactions involving future delivery contracts, such as to-be-announced (TBA) contracts and mortgage dollar rolls. These contracts involve the purchase or sale of mortgage-backed securities for settlement at a future date and predetermined price. When the fund enters into a TBA commitment for the sale of mortgage-backed securities (which may be referred to as having a short position in such TBA securities), the fund may or may not hold the types of mortgage-backed securities required to be delivered. The fund may choose to roll these transactions in lieu of settling them.

When the fund rolls the purchase of these types of future delivery transactions, the fund simultaneously sells the mortgage-backed securities for delivery in the current month and repurchases substantially similar securities for delivery at a future date at a predetermined price. When the fund rolls the sale of these transactions rather than settling them, the fund simultaneously purchases the mortgage-backed securities for delivery in the current month and sells substantially similar securities for delivery at a future date at a predetermined price. Such roll transactions can increase the turnover rate of the fund and may increase the risk that market prices may move unfavorably between the original and new contracts, potentially resulting in losses or reduced returns for the fund.

*Management* — The investment adviser to the fund actively manages the fund's investments. Consequently, the fund is subject to the risk that the methods and analyses, including models, tools and data, employed by the investment adviser in this process may be flawed or incorrect and may not produce the desired results. This could cause the fund to lose value or its investment results to lag relevant benchmarks or other funds with similar objectives.

Your investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency, entity or person. You should consider how this fund fits into your overall investment program.

Short-Term Bond Fund of America / Summary prospectus&nbsp;&nbsp;&nbsp;&nbsp; 8

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

![](image_002.jpg)

9&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Bond Fund of America / Summary prospectus

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Average annual total returns** **For the periods ended December 31, 2024:** | **Average annual total returns** **For the periods ended December 31, 2024:** | **Average annual total returns** **For the periods ended December 31, 2024:** | **Average annual total returns** **For the periods ended December 31, 2024:** | **Average annual total returns** **For the periods ended December 31, 2024:** | **Average annual total returns** **For the periods ended December 31, 2024:** |
| Share class | Inception date | 1 year | 5 years | 10 years | Lifetime |
| **F-2** - Before taxes | 8/19/2008 | 4.60% | 1.64% | 1.54% | 1.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;- After taxes on distributions |  | 2.79 | 0.62 | 0.72 | N/A |
| &nbsp;&nbsp;- After taxes on distributions and sale of fund shares | &nbsp;&nbsp;- After taxes on distributions and sale of fund shares | 2.70 | 0.82 | 0.82 | N/A |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Share classes** (before taxes) | Inception date | 1 year | 5 years | 10 years | Lifetime |
| **A** (with maximum sales charge) | 10/2/2006 | 1.73% | 0.83% | 1.04% | 1.37% |
| C | 11/6/2006 | 2.58 | 0.66 | 0.71 | 1.13 |
| F-1 | 11/1/2006 | 4.31 | 1.36 | 1.27 | 1.43 |
| F-3 | 1/27/2017 | 4.82 | 1.76 | N/A | 1.83 |
| **529-A** (with maximum sales charge) | 11/3/2006 | 1.71 | 0.85 | 1.03 | 1.32 |
| 529-C | 11/3/2006 | 2.53 | 0.60 | 0.89 | 1.24 |
| 529-E | 12/1/2006 | 4.09 | 1.15 | 1.04 | 1.15 |
| 529-F-1 | 11/16/2006 | 4.60 | 1.57 | 1.48 | 1.65 |
| 529-F-2 | 10/30/2020 | 4.71 | N/A | N/A | 1.15 |
| 529-F-3 | 10/30/2020 | 4.63 | N/A | N/A | 1.18 |
| R-1 | 12/26/2006 | 3.58 | 0.65 | 0.55 | 0.68 |
| R-2 | 12/8/2006 | 3.60 | 0.64 | 0.55 | 0.69 |
| R-2E | 8/29/2014 | 3.92 | 0.93 | 0.89 | 0.86 |
| R-3 | 11/22/2006 | 4.17 | 1.11 | 1.01 | 1.13 |
| R-4 | 1/3/2007 | 4.36 | 1.40 | 1.30 | 1.44 |
| R-5E | 11/20/2015 | 4.66 | 1.60 | N/A | 1.58 |
| R-5 | 1/4/2007 | 4.76 | 1.71 | 1.60 | 1.73 |
| R-6 | 11/20/2009 | 4.71 | 1.74 | 1.66 | 1.41 |

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|:---|:---|:---|:---|:---|
| Indexes | 1 year | 5 years | 10 years | **Lifetime**<br>**(from Class**<br> **F-2 inception)** |
| Bloomberg U.S. Aggregate Index (reflects no deductions for sales charges, account fees or U.S. federal income taxes) | 1.25% | –0.33% | 1.35% | 2.76% |
| Bloomberg U.S. Government/Credit 1-3 Years ex BBB Index (reflects no deductions for sales charges, account fees, expenses or U.S. federal income taxes) | 4.21 | 1.49 | 1.52 | 1.66 |
| Class F-2 annualized 30-day yield at August 31, 2025: 4.14%<br>(For current yield information, please call American Funds Service Company at (800) 421-4225 or visit capitalgroup.com.) | Class F-2 annualized 30-day yield at August 31, 2025: 4.14%<br>(For current yield information, please call American Funds Service Company at (800) 421-4225 or visit capitalgroup.com.) | Class F-2 annualized 30-day yield at August 31, 2025: 4.14%<br>(For current yield information, please call American Funds Service Company at (800) 421-4225 or visit capitalgroup.com.) | Class F-2 annualized 30-day yield at August 31, 2025: 4.14%<br>(For current yield information, please call American Funds Service Company at (800) 421-4225 or visit capitalgroup.com.) | Class F-2 annualized 30-day yield at August 31, 2025: 4.14%<br>(For current yield information, please call American Funds Service Company at (800) 421-4225 or visit capitalgroup.com.) |

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

Short-Term Bond Fund of America / Summary prospectus&nbsp;&nbsp;&nbsp;&nbsp; 10

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Management

**Investment adviser** Capital Research and Management Company<br> **Portfolio managers** The individuals primarily responsible for the portfolio management of the fund are:

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| | | |
|:---|:---|:---|
| **Portfolio manager/**<br>**Fund title (if applicable)** | **Portfolio manager**<br>**in this fund since:** | **Primary title**<br>**with investment adviser** |
| Oliver V. Edmonds | 2020 | Partner – Capital Fixed Income Investors |
| **Vincent J. Gonzales** President | 2017 | Partner – Capital Fixed Income Investors |
| **Tom Hollenberg** | 2023 | Partner – Capital Fixed Income Investors |

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Purchase and sale of fund shares The minimum amount to establish an account for all share classes is normally $250 and the minimum to add to an account is $50. For a payroll deduction retirement plan account, payroll deduction savings plan account or employer-sponsored 529 account, the minimum is $25 to establish or add to an account. For accounts with Class F-3 shares held and serviced by the fund's transfer agent, the minimum investment amount is $1 million.

If you are a retail investor, you may sell (redeem) shares on any business day through your dealer or financial professional or by writing to American Funds Service Company<sup>®</sup> at P.O. Box 6007, Indianapolis, Indiana 46206-6007; telephoning American Funds Service Company at (800) 421-4225; faxing American Funds Service Company at (888) 421-4351; or accessing our website at capitalgroup.com. Please contact your plan administrator or recordkeeper to sell (redeem) shares from your retirement plan.

Tax information Dividends and capital gain distributions you receive from the fund are subject to federal income taxes and may also be subject to state and local taxes, unless you are tax-exempt or your account is tax-favored (in which case you may be taxed later, upon withdrawal of your investment from such account).

Payments to broker-dealers and other financial intermediaries If you purchase shares of the fund through a broker-dealer or other financial intermediary (such as a bank), the fund and the fund's distributor or its affiliates may pay the intermediary for the sale of fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your individual financial professional to recommend the fund over another investment. Ask your individual financial professional or visit your financial intermediary's website for more information.

11&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Bond Fund of America / Summary prospectus

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Notes

Short-Term Bond Fund of America / Summary prospectus&nbsp;&nbsp;&nbsp;&nbsp; 12

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Notes

13&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Bond Fund of America / Summary prospectus

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Notes

Short-Term Bond Fund of America / Summary prospectus&nbsp;&nbsp;&nbsp;&nbsp; 14

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|:---|:---|
| You can access the fund's statutory prospectus or SAI at capitalgroup.com/prospectus. | You can access the fund's statutory prospectus or SAI at capitalgroup.com/prospectus. |
| ![](image_003.jpg) | MFGEIPX-048-1125P <br>Litho in USA CGD/TM/9691<br>Investment Company File No. 811-21928 |

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THE FUND PROVIDES A SPANISH TRANSLATION OF THE ABOVE SUMMARY PROSPECTUS IN CONNECTION WITH THE PUBLIC OFFERING AND SALE OF ITS SHARES. THE ENGLISH LANGUAGE SUMMARY PROSPECTUS ABOVE IS A FAIR AND ACCURATE REPRESENTATION OF THE SPANISH EQUIVALENT.

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|:---|:---|
| &nbsp;&nbsp;/s/ | &nbsp;&nbsp;COURTNEY R. TAYLOR |
|  | &nbsp;&nbsp;COURTNEY R. TAYLOR |
|  | &nbsp;&nbsp;SECRETARY |

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