투자회사 오브 아메리카(AIVSX), 오랜 역사와 장기 수익률 분석
The Investment Company of America, AIVSX, Has Outlasted Nearly Every Fund Launched Beside It
펀드의 장기적인 회복력은 안정성을 시사하며 단기적으로는 완만한 긍정적 편향을 나타냅니다.
핵심 요약
AIVSX는 10년간 272.94%의 조정 수익률을 기록하며 시장 변동성을 극복한 장기 성과를 보였습니다.
Original Article
The Investment Company of America, AIVSX, Has Outlasted Nearly Every Fund Launched Beside It
Most mutual funds launched in the 1930s are footnotes in a finance textbook. The Investment Company of America ( NASDAQ:AIVSX ) is still open, still paying dividends, and still one of the largest actively managed U.S. equity funds on the planet. Its total net assets sat at roughly $165.9 billion as of March 31, 2026, a scale that only decades of compounding and asset-gathering can produce.
The fund, part of the American Funds family run by Capital Group, is a large-cap, value-leaning U.S. stock fund. It has been in continuous operation since the 1930s. Longevity is interesting, but it does not automatically make a fund a good buy today. Here is what AIVSX actually gets you in 2026.
Recent numbers are unambiguous. On an adjusted basis, AIVSX returned 272.94% over the ten years ending August 12, 2026, 97.98% over the trailing five years, and 19.59% over the trailing one year. Year to date through August 12, 2026, the fund was up 13.66%, closing at $70.70. Those are respectable numbers for a diversified large-cap fund, though they trail what a plain S&P 500 index fund delivered over the same decade.
The long arc matters more than any single window. The adjusted close climbed from 7.2467 at year-end 1999 to 70.70 in August 2026, a stretch that includes the dot-com bust, the 2008 financial crisis, and the 2020 pandemic drawdown . The March 2020 adjusted trough of 21.5113 was recovered inside a year. That is what surviving cycles looks like on a chart.
AIVSX runs an active portfolio, though its top names will feel familiar. As of March 31, 2026, Amazon was the largest single position at 4.72% of assets, followed by the two Alphabet share classes at a combined 4.63% (GOOGL at 2.49% and GOOG at 2.13%). AbbVie sat at 1.09%, Abbott Laboratories at 0.75%, Alnylam Pharmaceuticals at 0.39%, American Express at 0.33%, Altria at 0.29%, Air Products & Chemicals at 0.16%, and AT&T at 0.09%.
That mix, with mega-cap tech alongside pharma, tobacco, industrial gases, and a telecom, reflects the approach. Capital Group’s multi-manager system splits the portfolio among several investment professionals who each run a sleeve, which is why the fund holds both aggressive growth names and traditional dividend payers side by side. Turnover tends to be modest by active-fund standards, which helps keep taxable capital gains manageable for investors in brokerage accounts.
AIVSX is the Class A share of the Investment Company of America. Class A shares in the American Funds lineup carry a front-end sales charge and an ongoing 12b-1 fee, meaning a slice of your first dollar goes to distribution before it is ever invested. Cheaper share classes of the same underlying portfolio exist, including F-2, F-3, and R-6 shares, which are typically available inside advisor platforms and workplace retirement plans without the sales load.
If you already own AIVSX inside a 401(k) or through a fee-based advisor, you may not be paying the load. If you are buying it retail at a brokerage, checking whether a load-waived share class is available is the single most impactful thing you can do.
The fund pays quarterly distributions with an outsized year-end payout. The trailing 12-month total was $6.2343 per share, with the June 16, 2026 quarterly distribution at $0.324. The December 2025 year-end distribution alone was $5.6003 per share, reflecting realized capital gains inside the portfolio. That is a feature of an actively managed fund with long-held winners, but it does create a tax event in taxable accounts.
Investors who already hold AIVSX in a retirement plan without paying the load, and who want diversified large-cap exposure with a value tilt, have a defensible core holding. Long-horizon investors who value active manager continuity over rock-bottom fees may find the American Funds system appealing. Investors buying in taxable accounts through a discount broker, or those who are fee-sensitive and comfortable with index investing, generally have cheaper, more tax-efficient ways to own the same names.
Contact [email protected] for any questions or corrections.