Fund Evaluator:
American Funds Fundamental Invs R-2 (RFNBX)
Follow This Fund
Best Performing in Large Blend Over the Last Year
| 49.8% | PRIMECAP Odyssey Growth (POGRX) |
| 48.6% | Vanguard PRIMECAP Core Inv (VPCCX) |
| 45.8% | Vanguard PRIMECAP Adm (VPMAX) |
| 45.7% | Vanguard PRIMECAP Inv (VPMCX) |
| 42.3% | Midas Special Opportunities (MISEX) |
Fund Details
American Funds Fundamental Invs R-2 Overview
American Funds Fundamental Invs R-2 (RFNBX) is an actively managed U.S. Equity Large Blend fund. Capital Group launched the fund in 2002.
The investment seeks long-term growth of capital and income. The fund invests primarily in common stocks of companies that appear to offer superior opportunities for capital growth and most of which have a history of paying dividends. It may invest significantly in securities of issuers domiciled outside the United States. The investment adviser uses a system of multiple portfolio managers in managing the fund's assets.
About American Funds Fundamental Invs R-2 (RFNBX)
There are 9 members of the management team with an average tenure of 8.33 years: Brady Enright (2006), Irfan Furniturewala (2018), Mark Casey (2011), Franco Tapia (2026), Paul Benjamin (2017), Dimitrije Mitrinovic (2020), Mathews Cherian (2015), Diana Wagner (2022), Brantley Thompson (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) index with a weighting of 100% and MSCI World NR USD index with a weighting of 100%. American Funds Fundamental Invs R-2 has 243 securities in its portfolio. The top 10 holdings constitute 35.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
American Funds Fundamental Invs R-2 is part of the Equity global asset class and is within the U.S. Equity fund group. American Funds Fundamental Invs R-2 has 19.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 76.3%. There is 19.4% allocated to foreign stock, and 1.5% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). American Funds Fundamental Invs R-2 has 2.6% of the portfolio in cash.
Assets Under Management
The fund has $831 million in total assets, which is below the $6 billion average for the Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
RFNBX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The American Funds Fundamental Invs R-2 expense ratio is high compared to funds in the Large Blend category. American Funds Fundamental Invs R-2 has an expense ratio of 1.37%, which is 69% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. American Funds Fundamental Invs R-2 has a portfolio turnover rate of 26%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 48% for the Large Blend category.
Recently, in the month of July 2026, American Funds Fundamental Invs R-2 returned -1.4%, which earned it a grade of F, as the Large Blend category had an average return of 0.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
American Funds Fundamental Invs R-2 has a trailing yield of 0.00%, which is below the 0.56% category average. The fund normally distributes its income quarterly and its capital gains semi-annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
American Funds Fundamental Invs R-2 Grades
Year to date, the fund has returned 12.7%, 3.4 percentage points better than the category, which translates into a grade of A. The fund has returned 22.8% over the past year (grade of A), 21.6% over the past three years (grade of A) and 13.1% per year over the past five years (grade of A) and 13.8% per year over the past 10 years (grade of C).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about American Funds Fundamental Invs R-2, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
RFNBX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| RFNBX Return (NAV) | -1.4% | 4.3% | 22.8% | 21.6% | 13.1% | 13.8% |
| RFNBX Grade | F | B | A | A | A | C |
| +/- Category | -1.8% | 0.2% | 5.3% | 4.2% | 2.0% | 0.2% |
| Large Blend Avg | 0.4% | 4.1% | 17.5% | 17.3% | 11.1% | 13.7% |
| RFNBX Tax Cost Ratio | na | na | 1.7% | 1.7% | 1.6% | 1.5% |
RFNBX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| RFNBX Return (NAV) | 12.7% | 23.3% | 22.1% | 24.9% | -17.3% | 21.5% | 14.1% | 26.6% | -7.4% | 22.4% | 11.7% |
| RFNBX Grade | A | A | D | C | C | F | D | F | D | B | B |
| +/- Category | 3.4% | 7.5% | 0.0% | 1.2% | -0.1% | -5.0% | -3.5% | -3.2% | -1.5% | 1.1% | 1.5% |
| Large Blend Avg | 9.3% | 15.8% | 22.1% | 23.7% | -17.3% | 26.5% | 17.5% | 29.8% | -5.9% | 21.3% | 10.2% |
| Risk Measures | |
| Standard Deviation: | 14.1% |
| Total Risk Index: | 1.15 - Above Average |
| Category Risk Index: | 1.06 - High |
| Category Risk Grade: | F (86% Rank) |
| Beta: | 1.05 |
| R-Squared: | 94% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Semi-Annually |
| Total Assets: | $181205 Mil |
| Fund Total Assets: | $ 831 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 26% |
Management Team
| Number of Managers: 9 | |||
| Longest Tenure: 20.4 years | |||
| Average Tenure: 8.3 years | |||
| Managers (Year): Enright Brady (2006), Casey Mark (2011), Cherian Mathews (2015), Benjamin Paul (2017), Furniturewala Irfan (2018), Mitrinovic Dimitrije (2020), Wagner Diana (2022), Thompson Brantley (2025), Tapia Franco (2026) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 243 |
| % in Top 10 Holdings: | 35.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 19.4% |
Portfolio Allocation |
|
| Domestic Stock: | 76.3% |
| Foreign Stock: | 19.4% |
| Preferred Stock: | 1.5% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.1% |
| Cash: | 2.6% |
Purchase Information
| Fund Family: | Capital Group |
| Phone Number: | 800-421-4225 |
| Website: | www.americanfunds.com |
| Status: | Open |
| Inception Date: | May 21, 2002 |
| Min. Initial Purchase: | $ 250 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.75% |
Expenses and Fees | |
| Expense Ratio (%): | 1.37% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.81% |
| Share Class: | American Funds Fundamental Invs A |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 0 |
