About CABAX
American Funds College 2042 Fund 529-A is an age-based target date mutual fund designed primarily for education savings through 529 plans. The fund’s principal objective is to balance growth, income, and capital preservation, gradually shifting its asset allocation as the target date of 2042 approaches. Early in its life cycle, the fund allocates a significant portion of assets to U.S. and non-U.S. equities to maximize growth potential. Over time, it systematically increases exposure to fixed-income, equity-income, and balanced funds to emphasize income generation and preserve capital as beneficiaries near college enrollment.
This fund pools investments across various underlying American Funds, encompassing growth, growth-and-income, equity-income, balanced, and bond strategies. With an inception date of March 2024 and a minimum initial investment of $250, the fund appeals to individuals seeking a structured, professionally managed approach to college savings. As of May 2025, it manages over $319 million in assets and maintains a diversified portfolio with a notable focus on low portfolio carbon risk and limited fossil fuel exposure. This design makes American Funds College 2042 Fund 529-A a key component for long-term education planning within the 529 plan framework.
Fund Family Capital Group
Category Mixed-Asset Target 2045
Stock Exchange Nasdaq
Ticker Symbol CABAX
Share Class Class 529-a
Index Index is not provided by Management Company
CABAX had a total return of 11.98% in the past year, including dividends. Since the fund's
inception, the average annual return has been 15.40%.
