Components made of a metal matrix composite and methods for the manufacture thereof. The metal matrix composite contains TiB2 particles, Al3Ti particles, and particles of an intermetallic compound of aluminum and at least one rare earth element dispersed in an aluminum matrix. Methods include casting a first melt to produce an ingot, remelting the ingot to form a second melt, forming a powder from the second melt using an atomization process, and fabricating a component utilizing the powder in an additive manufacturing process. The ingot and the powder include an aluminum matrix that contains dispersions of TiB2 particles and Al3Ti particles.