American Century® Focused Large Cap Value ETF - FLV

Summary

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FUND FACTS

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Expenses and Distributions

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FUND DOCUMENTS & RESOURCES

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More Information


      VIIV Methodology  
      Fund Brochure  
      2021 Distribution Calendar

 

This ETF is different from traditional ETFs. Traditional ETFs tell the public what assets they hold each day. This ETF will not. This may create additional risks for your investment.

SPECIFICALLY:

Objective

Seeks long-term growth.

Goal & Strategy

Long-term capital growth through investments in a focused number of large-cap companies.

Characteristics

Seeks to invest in large-cap companies selling at a discount to fair value. The time-tested investment process focuses on higher-quality companies with superior risk/reward potential. We believe investing in these businesses can result in returns with lower volatility over time.

Attributes

  • PRICING
  • Pricing

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  • PREMIUM/DISCOUNT
  • Premium/Discount

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  • VIIV
  • VIIV

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  • HALTS
  • Halts

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    Performance

    • ANNUALIZED
    • Average annual returns illustrate the annual compounded returns that would have produced the cumulative total return if the fund's performance had remained constant throughout the period indicated. Returns for periods less than one year are not annualized.

      ETF Market Performance (Inception to Date):
      The fund's per share Net Asset Value (NAV) is the value of one share of the fund. Market Price is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which the shares of the fund are listed for trading, as of the time that the fund's NAV is calculated. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. Since shares of the fund did not trade in the secondary market until after the fund's inception, for the period from inception to the first day of secondary market trading in shares of the fund, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively.

      Annualized

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    • YIELDS
    • Yields

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      Composition

      • TOP TEN HOLDINGS
      • Top Ten Holdings

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      • SECTOR WEIGHTINGS
      • Sector Weightings

      • INVESTMENT BLEND
      • Investment Blend

        Geography

        • TOP COUNTRIES
        • Top Countries

        • TOP REGIONS
        • Top Regions

          Management

          Michael Liss, CFA, CPA

          Michael Liss, CFA, CPA

          Vice President, Senior Portfolio Manager

          Adam Krenn, CFA

          Adam Krenn, CFA

          Portfolio Manager, Senior Investment Analyst

          Kevin Toney, CFA

          Kevin Toney, CFA

          Chief Investment Officer — Global Value Equity, Senior Vice President, Senior Portfolio Manager

          Phillip N. Davidson, CFA

          Phillip Davidson, CFA

          Senior Vice President, Executive Portfolio Manager

          Brian Woglom, CFA

          Brian Woglom, CFA

          Vice President, Senior Portfolio Manager

          Phil Sundell, CFA

          Phil Sundell, CFA

          Vice President, Portfolio Manager

          Rene Casis

          Rene Casis

          Vice President, Portfolio Manager

          Index performance does not represent the fund's performance. It is not possible to invest directly in an index.

          Exchange Traded Funds (ETFs) are bought and sold through exchange trading at market price (not NAV), and are not individually redeemed from the fund. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns.

          Investment return and principal value of security investments will fluctuate. The value at the time of redemption may be more or less than the original cost. Past performance is no guarantee of future results.

          The fund is an actively managed ETF that does not seek to replicate the performance of a specified index.

          This fund may invest in a limited number of companies, which carries more risk because changes in the value of a single company may have a more significant effect, either negative or positive on the fund's value.

          Because the shares are traded in the secondary market, a broker may charge a commission to execute a transaction in shares, and an investor also may incur the cost of the spread between the price at which a dealer will buy shares and the somewhat higher price at which a dealer will sell shares.

          The Verified Intraday Indicative Value: Unlike traditional ETFs, the fund does not tell the public what assets it holds each day. Instead, the fund provides a verified intraday indicative value (VIIV), calculated and disseminated every second throughout the trading day by the Cboe BZX Exchange, Inc. (Listing Exchange) or by market data vendors or other information providers. It is available on websites that publish updated market quotations during the trading day, by searching for the fund's ticker plus the extension .IV, though some websites require more unique extensions. For example, the VIIV can be found on Yahoo Finance (https://finance.yahoo.com) by typing "^FLV-IV" (for Focused Large Cap Value ETF) or "^FDG-IV" (for Focused Dynamic Growth ETF) in the search box labeled "Quote Lookup." The VIIV is based on the current market value of the securities in the fund's portfolio on that day. The VIIV is intended to provide investors and other market participants with a highly correlated per share value of the underlying portfolio that can be compared to the current market price. The specific methodology for calculating the fund's VIIV is available on the fund's website.

          Portfolio Transparency Risk: The VIIV is intended to provide investors with enough information to allow for an effective arbitrage mechanism that will keep the market price of the fund's shares trading at or close to the underlying net asset value (NAV) per share of the fund. There is, however, a risk, which may increase during periods of market disruption or volatility, that market prices will vary significantly from the underlying NAV of the fund. Similarly, because the fund's shares trade on the basis of a published VIIV, they may trade at a wider bid/ask spread than shares of ETFs that publish their portfolios on a daily basis, especially during periods of market disruption or volatility, and therefore, may cost investors more to trade. Although the fund seeks to benefit from keeping its portfolio information secret, some market participants may attempt to use the VIIV to identify the fund's trading strategy, which if successful, could result in such market participants engaging in certain predatory trading practices that may have the potential to harm the fund and its shareholders.

          Early Close / Trading Halt Risk: Trading in fund shares on the Listing Exchange may be halted in certain circumstances. Trading halts may have a greater impact on the fund than traditional ETFs because of its lack of transparency. An extended trading halt in a portfolio security could exacerbate discrepancies between the VIIV and the fund's NAV.

          Authorized Participant / Authorized Participant Representative Concentration Risk: The fund issues and redeems shares in Creation Units to Authorized Participants. The creation and redemption process for the fund occurs through a confidential brokerage account (Confidential Account) with an agent, called an AP Representative. The fund may have a limited number of institutions that act as Authorized Participants and AP Representatives, none of which are obligated to engage in creation or redemption transactions. The fact that the fund is offering a novel and unique structure may affect the number of entities willing to act as Authorized Participants and AP Representatives. During times of market stress, Authorized Participants may be more likely to step away from this type of ETF than a traditional ETF.

          C

          The gross expense ratio is the fund's total annual operating costs, expressed as a percentage of the fund's average net assets for a given time period. It is gross of any fee waivers or expense reimbursement. The net expense ratio is the expense ratio after the application of any waivers or reimbursement. This is the actual ratio that investors paid during the fund's most recent fiscal year. Please see the prospectus for more information.

          ©2022 Morningstar, Inc. All Rights Reserved. Certain 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 losses arising from any use of this information.

          For detailed descriptions of indices or investing terms referenced above, refer to our glossary.

          Exchange Traded Funds (ETFs): Foreside Fund Services, LLC - Distributor, not affiliated with American Century Investments Services, Inc.