as are most Am Funds F sharre, but this one especially - even with those pesky 12-1b fees whoch I hate so much. Very much value oriented, it is not a barn burner, but a steady performer that will protect you in market reversals. Consistently beats the "moderate allocation" index and the category. Some of the holdings will put you to sleep (GE, Citibank), others are similarly boring, but this fund gets the job done with causing anxiety.