Morningstar® Investment Profile™   Morningstar®
Disclosure
  Format
for Print
American Century Diversified Bond Inv  ADFIX
Release date as of 2024-04-30. Data on page is subject to change.
Snapshot Total Returns Ratings & Risk Portfolio Nuts & Bolts
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2024-04-30
Out of 430
Intermediate Core Bond Funds
Morningstar®
Style Box™
What is this?
As of 2024-03-31
Total Fund Assets ($ Mil)
5,988.79
View Historical Morningstar Star Ratings and Definitions
  Investment Objective & Strategy  
The investment seeks a high level of income by investing in non-money market debt securities.
Under normal market conditions, the fund invests at least 80% of its net assets in high- and medium-grade, non-money market debt securities. It invests most of its assets in investment-grade securities. The weighted average maturity of the fund's portfolio must be three and one-half years or longer.
  Morningstar Category: Intermediate Core Bond
Intermediate-term core bond portfolios invest primarily in investment-grade U.S. fixed-income issues including government, corporate, and securitized debt, and hold less than 5% in below-investment-grade exposures. Their durations (a measure of interest-rate sensitivity) typically range between 75% and 125% of the three-year average of the effective duration of the Morningstar Core Bond Index. 
  Performance
Growth of $10,000
(from 2014-01-01 to 2024-04-30)
Investment: American Century Diversified Bond Inv
Benchmark 1: Bloomberg US Agg Bond TR USD
Benchmark 2: Bloomberg US Agg Bond TR USD
Category: Intermediate Core Bond
This graph presents historical performance for the investment as well as an index and/or peer group. If the investment, index and/or peer group have performed similarly, the line representing the fund will overlay the index and/or peer group. Therefore, the line(s) representing the index and/or peer group history may be hidden.
Total Annualized Returns %
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Investment -3.37 -2.09 -3.91 -0.26 0.93 3.07
Bloomberg US Agg Bond TR USD -3.28 -1.47 -3.54 -0.16 1.20 4.32
Bloomberg US Agg Bond TR USD -3.28 -1.47 -3.54 -0.16 1.20 4.32
Category -2.89 -1.01 -3.54 -0.14 1.10 3.82
Morningstar Rating --- --- ---
# of compared Intermediate Core Bond funds covered (3 yrs : out of 430 funds) (5 yrs : out of 385 funds) (10 yrs : out of 274 funds)
Ratings reflect risk-adjusted performance and are derived from a weighted average of the performance figures associated with its three, five and ten-year (if applicable) time periods.
Investment results shown represent historical performance and do not guarantee future results. Investment returns and principal values fluctuate with changes in interest rates and other market conditions so the value, when redeemed may be worth more or less than original costs. Current performance may be lower or higher than the performance data shown.
Fees and Expenses
Total Annual Operating Expense 0.60%
Prospectus Net Expense Ratio 0.60%
Maximum Sales Charge ---
The total annual operating expense shown is before management fee waivers or expense caps. For more information on waivers/reimbursements, please see the prospectus. The total annual operating expense is also referred to as the prospectus gross expense ratio.
Waiver Data
Type Date %
--- --- --- ---
  Portfolio Profile
Asset Allocation
% of Net Assets
Bullet U.S. Stocks U.S. Stocks 0.0
Bullet Non-U.S. Stocks Non-U.S. Stocks 0.0
Bullet Bonds Bonds 96.7
Bullet Cash Cash 3.3
Bullet Other Other 0.0
Asset Allocation Rescaled Graph
Data through 2024-03-31
Morningstar Fixed-Income Sectors
% Fund
Government 32.01
Corporate 22.58
Securitized 38.86
Municipal 0.74
Cash & Equivalents 3.28
Derivative 2.53
Data through 2024-03-31
Credit Analysis
% Bonds
AAA 66.44
AA 4.01
A 11.90
BBB 15.11
BB 0.00
B 0.01
Below B 0.00
Not Rated 2.54
Data through 2024-03-31
Credit Analysis Graph
Holding Status
Total Number of Stock Holdings 0
Total Number of Bond Holdings 625
% of Net Assets in Top 10 Holdings 17.78
Turnover % (as of 2023-03-31) 170.00
30 Day SEC Yield % 4.58
Top Holdings
Maturity
Date
Shares
Value
$000
% of Net
Assets
Us 5yr Note (Cbt) Jun24 Xcbt 20240628 2024-06-28 330,800 354,008 5.13
United States Treasury Notes 4.125% 2027-02-15 190,000 188,419 2.73
United States Treasury Notes 4.25% 2027-03-15 106,000 105,520 1.53
Us Long Bond(Cbt) Jun24 Xcbt 20240618 2024-06-18 80,700 97,193 1.41
Federal National Mortgage Association 5% 2054-04-11 94,138 91,862 1.33
United States Treasury Bonds 4.75% 2053-11-15 84,500 90,224 1.31
United States Treasury Notes 3.75% 2030-12-31 86,000 83,635 1.21
United States Treasury Bonds 4.75% 2043-11-15 71,000 73,674 1.07
2 Year Treasury Note Future June 24 2024-06-28 70,400 71,979 1.04
United States Treasury Notes 4.875% 2030-10-31 68,000 70,486 1.02
Data through 2024-03-31
  Principal Risks   
Lending, Credit and Counterparty, Extension, Prepayment (Call), Emerging Markets, Foreign Securities, Loss of Money, Not FDIC Insured, Interest Rate, Market/Market Volatility, Bank Loans, Restricted/Illiquid Securities, Derivatives, Shareholder Activity, Structured Products
Show Risk Definitions
  Other Information
Inception Date: 2001-12-03
Portfolio Manager(s)
Jeffrey L. Houston   (2001-12-03)
Houston is a Vice President and Senior Portfolio Manager with American Century Investments, his employer since November 1990. Before joining the company, he was an assistant vice president and analyst with Ambac Indemnity, a municipal financial guaranty firm in New York. He has been in the finance industry since 1986. Houston holds the Chartered Financial Analyst designation. He is a member of the Kansas City Society of Financial Analysts and the Association of Investment Management and Research. He earned a B.A. from the University of Delaware and an M.A. from Syracuse University.
Paul Norris   (2023-11-10)
Paul Norris is a Managing Director and Head of Structured Products, overseeing the team involved in the research and trading of structured securities. Prior to joining Conning in 2017, he was a hedge fund portfolio manager focused on mortgage derivatives. Previously, Mr. Norris was head of securitized products at Dwight Asset Management, where he led a team of portfolio managers, traders and analysts, and also has served as director of mortgage and non-mortgage investments at Fannie Mae. Mr. Norris earned a BS in finance from Towson University and an MBA from the University of Maryland.
Charles Tan   (2018-10-31)
Charles Tan is a senior vice president and co-chief investment officer — Global Fixed Income for American Century Investments®. As co-CIO of Global Fixed Income, Mr. Tan oversees portfolio management and research for the firm’s fixed income strategies, managed in offices in Santa Clara, Calif., New York City, and London, England. Mr. Tan co-chairs the firm's Global Macro Strategy team, which sets the investment strategy for the Global Fixed Income group, and the Risk Management team, which oversees and manages risk for all strategies managed by the Global Fixed Income group. Mr. Tan joined the firm in 2018 from Aberdeen Standard Investments (previously Aberdeen Asset Management), where he held a series of leadership roles, including head of North American fixed income. Before that, he was vice president and senior high yield analyst at Moody's Investors Service. Previously, he was a credit officer with First Commercial Bank of Philadelphia (HSBC Bank). He has worked in the investment industry since 1994. Mr. Tan earned a bachelor's degree in economics from the University of International Business & Economics in Beijing and an MSBA from Bucknell University.
Jason Greenblath   (2021-08-01)
Jason Greenblath is vice president, senior portfolio manager and director of Corporate Credit Research for American Century Investments®. Mr. Greenblath co-leads the Corporate Markets team and is a member of the Global Fixed Income Investment Committee, which sets investment outlook for the Global Fixed Income group. Before joining American Century Investments in 2019, Mr. Greenblath was senior portfolio manager and head of U.S. Investment Grade Credit at Aberdeen Standard Investments. Prior to that, he was head of U.S. Investment Grade Credit Research. He joined Aberdeen in 2008 as a senior corporate analyst. He previously was a high yield/distressed credit analyst at RBS Greenwich Capital and has worked in the investment industry since 2002. Mr. Greenblath earned a bachelor's degree in finance from Pennsylvania State University.
Robert V. Gahagan   (2002-12-31)
Mr. Gahagan, Senior Vice President and Senior Portfolio Manager, joined American Century Investments in 1983.  He became a portfolio manager in 1991. He has a bachelor’s degree in economics and an MBA from the University of Missouri – Kansas City.
Investment Advisor(s)
American Century Investment Management Inc
Issuer
American Century Investments
Show Data Definitions

© Copyright 2024 Morningstar, Inc.
All rights reserved. Morningstar, the Morningstar logo, Morningstar.com, Morningstar Tools are either trademark or service marks of Morningstar, Inc. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or any losses arising from any use of information. Past performance is no guarantee of future performance.
Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.