2022 Estimated Distributions

What are distributions?

Why are some distributions larger than others?

Why do funds pay distributions?

When can I expect tax information?

Mutual Funds

As of October 31, 20222

Fund Name Ordinary Income Per Share3 Ordinary Income Pay Date4 Short-Term Capital Gain Per Share Long-Term Capital Gains Per Share Capital Gain Pay Date4
Balanced Fund 0.0714 12/21/2022 0.0000 0.0000 12/21/2022
California High-Yield Municipal Fund daily daily 0.0000 0.0000 12/07/2022
California Intermediate-Term Tax-Free Bond Fund daily daily 0.0000 0.0000 12/07/2022
Core Plus Fund daily daily 0.0000 0.0000 12/07/2022
Disciplined Core Value Fund 0.2216 12/21/2022 0.0000 0.0000 12/21/2022
Disciplined Growth Fund 0.0000 12/21/2022 0.0000 0.0000 12/21/2022
Diversified Bond Fund daily daily 0.0000 0.0000 12/07/2022
Emerging Markets Debt Fund 0.0751 12/21/2022 0.0000 0.0000 12/21/2022
Emerging Markets Fund 0.0000 12/21/2022 0.0000 0.0000 12/21/2022
Emerging Markets Small Cap Fund 0.0975 12/21/2022 0.0000 0.0000 12/21/2022
Equity Growth Fund 0.1549 12/02/2022 0.0000 1.7095 12/02/2022
Equity Income Fund 0.0651 12/21/2022 0.0923 0.4612 12/21/2022
Focused Dynamic Growth Fund 0.0000 12/07/2022 0.0000 0.0000 12/07/2022
Focused Global Growth Fund 0.0611 12/21/2022 0.0000 1.1316 12/21/2022
Focused International Growth Fund 0.0957 12/21/2022 0.0000 0.0000 12/21/2022
Focused Large Cap Value Fund 0.0466 12/21/2022 0.0372 0.4192 12/21/2022
Ginnie Mae Fund daily daily 0.0000 0.0000 12/07/2022
Global Bond Fund 0.5219 12/21/2022 0.0000 0.0000 12/21/2022
Global Gold Fund 0.0766 12/21/2022 0.0000 0.0000 12/21/2022
Global Real Estate Fund 0.0000 12/21/2022 0.0000 0.0000 12/21/2022
Global Small Cap Fund 0.0195 12/21/2022 0.0000 0.0000 12/21/2022
Government Bond Fund daily daily 0.0000 0.0000 12/07/2022
Growth Fund 0.0021 12/21/2022 0.0000 0.7240 12/21/2022
Heritage Fund 0.0000 12/21/2022 0.0000 0.0000 12/21/2022
High Income Fund daily daily 0.0000 0.0000 12/07/2022
High-Yield Fund daily daily 0.0000 0.0000 12/07/2022
High-Yield Municipal Fund daily daily 0.0000 0.0000 12/07/2022
Inflation-Adjusted Bond Fund 0.7131 12/21/2022 0.0000 0.0000 12/21/2022
Intermediate-Term Tax-Free Bond Fund daily daily 0.0000 0.0000 12/07/2022
International Bond Fund 0.0000 12/21/2022 0.0000 0.0000 12/21/2022
International Growth Fund 0.0873 12/21/2022 0.0000 0.0000 12/21/2022
International Opportunities Fund 0.0318 12/21/2022 0.0000 0.0000 12/21/2022
International Small-Mid Cap Fund 0.0486 12/21/2022 0.0000 0.0000 12/21/2022
International Value Fund 0.2187 12/21/2022 0.0000 0.0000 12/21/2022
Mid Cap Value Fund 0.0805 12/21/2022 0.0238 0.9113 12/21/2022
Non-U.S. Intrinsic Value Fund 0.3807 12/21/2022 0.0000 0.0000 12/21/2022
One Choice® 2025 Portfolio 0.3172 12/28/2022 0.0000 0.2516 12/28/2022
One Choice® 2030 Portfolio 0.2836 12/28/2022 0.0000 0.3294 12/28/2022
One Choice® 2035 Portfolio 0.3019 12/28/2022 0.0000 0.4343 12/28/2022
One Choice® 2040 Portfolio 0.2552 12/28/2022 0.0000 0.4664 12/28/2022
One Choice® 2045 Portfolio 0.2497 12/28/2022 0.0000 0.6038 12/28/2022
One Choice® 2050 Portfolio 0.1967 12/28/2022 0.0000 0.6145 12/28/2022
One Choice® 2055 Portfolio 0.2029 12/28/2022 0.0000 0.6353 12/28/2022
One Choice® 2060 Portfolio 0.1926 12/28/2022 0.0044 0.7405 12/28/2022
One Choice® 2065 Portfolio 0.1549 12/28/2022 0.0000 0.2896 12/28/2022
One Choice® Blend Plus 2015 Portfolio 0.2410 12/28/2022 0.0000 0.0065 12/28/2022
One Choice® Blend Plus 2020 Portfolio 0.2546 12/28/2022 0.0000 0.0000 12/28/2022
One Choice® Blend Plus 2025 Portfolio 0.2342 12/28/2022 0.0000 0.0259 12/28/2022
One Choice® Blend Plus 2030 Portfolio 0.2166 12/28/2022 0.0000 0.0693 12/28/2022
One Choice® Blend Plus 2035 Portfolio 0.2044 12/28/2022 0.0000 0.0810 12/28/2022
One Choice® Blend Plus 2040 Portfolio 0.1698 12/28/2022 0.0000 0.0827 12/28/2022
One Choice® Blend Plus 2045 Portfolio 0.1612 12/28/2022 0.0000 0.0939 12/28/2022
One Choice® Blend Plus 2050 Portfolio 0.1449 12/28/2022 0.0000 0.0932 12/28/2022
One Choice® Blend Plus 2055 Portfolio 0.1452 12/28/2022 0.0000 0.1140 12/28/2022
One Choice® Blend Plus 2060 Portfolio 0.1265 12/28/2022 0.0000 0.0800 12/28/2022
One Choice® Blend Plus 2065 Portfolio 0.1542 12/28/2022 0.0000 0.1967 12/28/2022
One Choice® In Retirement Portfolio 0.1910 12/28/2022 0.0014 0.2608 12/28/2022
One Choice® Portfolio: Aggressive 0.3352 12/28/2022 0.0071 1.2182 12/28/2022
One Choice® Portfolio: Conservative 0.2343 12/28/2022 0.0000 0.7464 12/28/2022
One Choice® Portfolio: Moderate 0.2257 12/28/2022 0.0052 0.9835 12/28/2022
One Choice® Portfolio: Very Aggressive 0.2395 12/28/2022 0.0000 1.6703 12/28/2022
One Choice® Portfolio: Very Conservative 0.2497 12/28/2022 0.0000 0.3882 12/28/2022
Real Estate Fund 0.1879 12/21/2022 0.1348 2.0072 12/21/2022
Select Fund 0.0000 12/21/2022 0.0000 8.0641 12/21/2022
Short Duration Fund daily daily 0.0000 0.0000 12/07/2022
Short Duration Inflation Protection Bond Fund 0.5110 12/21/2022 0.0000 0.0580 12/21/2022
Short Duration Strategic Income Fund daily daily 0.0000 0.0000 12/07/2022
Short-Term Government Fund daily daily 0.0000 0.0000 12/07/2022
Small Cap Dividend Fund 0.0699 12/21/2022 0.0000 0.0000 12/21/2022
Small Cap Growth Fund 0.0000 12/21/2022 0.0000 0.0000 12/21/2022
Small Cap Value Fund 0.0196 12/21/2022 0.0529 0.1949 12/21/2022
Small Company Fund 0.0096 12/21/2022 0.0000 0.0000 12/21/2022
Strategic Allocation: Aggressive Fund 0.1083 12/28/2022 0.0000 0.2475 12/28/2022
Strategic Allocation: Conservative Fund 0.0367 12/28/2022 0.0000 0.1252 12/28/2022
Strategic Allocation: Moderate Fund 0.0510 12/28/2022 0.0000 0.2186 12/28/2022
Strategic Income Fund daily daily 0.0000 0.0000 12/07/2022
Sustainable Equity Fund 0.3622 12/21/2022 0.0000 0.4080 12/21/2022
Ultra® Fund 0.0000 12/21/2022 0.0000 4.1884 12/21/2022
Utilities Fund 0.0820 12/21/2022 0.0000 0.7979 12/21/2022
Value Fund 0.0439 12/21/2022 0.1007 0.8941 12/21/2022
Zero Coupon 2025 Fund 3.6436 12/09/2022 0.0000 0.0000 12/09/2022


Note: Money market funds declare dividends daily and distribute income monthly. These funds are expected to make only regular monthly income distributions on December 30, 2022, and are not listed above.

Regulations regarding distributions can be complex, and there are several methods for managing your tax liability. Please consult a tax advisor about your particular circumstances. You also may obtain helpful information by calling the Internal Revenue Service at 1-800-829-1040 or visiting https://www.irs.gov .

Variable Portfolios 2022 Estimated Distributions

As of 10/31/20222

Fund Name Ordinary Income Per Share3 Ordinary Income Pay Date4 Short-Term Capital Gain Per Share Long-Term Capital Gains Per Share Capital Gain Pay Date4
VP Balanced Fund 0.0266 12/28/2022 0.0000 0.0000 N/A
VP Disciplined Core Value Fund 0.0620 12/28/2022 0.0000 0.0000 N/A
VP Inflation Protection Fund 0.0000 12/28/2022 0.0000 0.0000 N/A
VP Large Company Value Fund 0.0717 12/28/2022 0.0000 0.0000 N/A
VP Mid Cap Value Fund 0.0875 12/28/2022 0.0000 0.0000 N/A
VP Value Fund 0.0725 12/28/2022 0.0000 0.0000 N/A

American Century Investments Variable Portfolio Funds (VP Funds) are a series of investment choices available exclusively through variable annuity and variable universal life products. There are no plans to distribute VP Funds in any other way. Performance will vary based on the fees and expenses assessed with investments in variable insurance products. Those charges are disclosed in the separate account prospectus.

Exchange Traded Funds 2022 Estimated Distributions

As of 10/31/20222

 

Fund Name Ordinary Income Per Share3 Ordinary Income Pay Date10 Short-Term Capital Gain Per Share Long-Term Capital Gains Per Share Capital Gain Pay Date10
American Century® Diversified Corporate Bond ETF (KORP)5 0.1366 12/20/2022 0.0000 0.0000 12/20/2022
American Century® Diversified Municipal Bond ETF (TAXF)5 0.1067 12/20/2022 0.0000 0.0000 12/20/2022
American Century® Emerging Markets Bond ETF (AEMB)5 0.2042 12/20/2022 0.0000 0.0000 12/20/2022
American Century® Focused Dynamic Growth ETF (FDG)B,12 0.0000 12/20/2022 0.0000 0.0000 12/20/2022
American Century® Focused Large Cap Value ETF (FLV)B,12 0.2759
12/20/2022
0.0124 1.5358 12/20/2022
American Century® Low Volatility ETF (LVOL)5 0.1520
12/20/2022
0.0000 0.0000 12/20/2022
American Century® Mid Cap Growth Impact ETF (MID)B,13,14 0.0000 12/20/2022

0.0000 0.0000 12/20/2022
American Century® Multisector Income ETF (MUSI)5 0.1754 12/20/2022

0.0000 0.0000 12/20/2022
American Century® Quality Convertible Securities ETF (QCON)5 0.0611 12/20/2022

0.0000 0.0000 12/20/2022
American Century® Quality Diversified International ETF (QINT)6 0.6326 12/20/2022

0.0000 0.0000 12/20/2022
American Century® Quality Preferred ETF (QPFF)5 0.1597 12/20/2022

0.0000 0.0000 12/20/2022
American Century® Select High Yield ETF (AHYB)5
0.2029 12/20/2022 0.0000 0.0000 12/20/2022
American Century® Short Duration Strategic Income ETF (SDSI)5 0.1094 12/20/2022 0.0000 0.0000 12/20/2022
American Century® STOXX® U.S. Quality Growth ETF (QGRO)6,7,8 0.0183 12/20/2022

0.0000 0.0000 12/20/2022
American Century® STOXX® U.S. Quality Value ETF (VALQ)6,7, 8 0.1729 12/20/2022

0.0000 0.0000 12/20/2022
American Century® Sustainable Equity ETF (ESGA)B,14 0.0995 12/20/2022

0.0000 0.0000 12/20/2022
American Century® Sustainable Growth ETF (ESGY)B,13,14 0.0189 12/20/2022

0.0000 0.0000 12/20/2022

 

 

BFDG, FLV, MID, ESGY, ESGA: These ETFs are 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

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.

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

1 Dividend income estimates for income funds that declare distributions daily are not generally listed, although they may pay distributions. In addition, some stock funds in the chart may show no estimated distributions at this time. However, please keep in mind that this may change.

2 The estimates provided are as of October 31, 2022. Keep in mind that market conditions, portfolio changes and/or changes in outstanding fund shares could affect these estimates substantially. In addition, there is a possibility that funds not listed above could be eligible to pay a capital gains distribution. This information is not final and is subject to change until the ex-dividend date.

3 The estimates in this chart do not reflect calculations for Qualified Dividends. However, those calculations, if applicable, will appear on Form 1099-DIV sent in late January 2023.

4 Per-share distributions are paid to investors who are shareholders of record with American Century Investments the business day before the payable date.

5

This fund is an actively managed ETF that does not seek to replicate the performance of a specified index. To determine whether to buy or sell a security, the portfolio managers consider, among other things, various fund requirements and standards, along with economic conditions, alternative investments, interest rates and various credit metrics. If the portfolio manager considerations are inaccurate or misapplied, the fund's performance may suffer.

6

This fund is not actively managed and the portfolio managers do not attempt to take defensive positions under any market conditions, including declining markets. The portfolio managers also do not generally add or remove a security from the fund until such security is similarly added or removed from the underlying index. Therefore, the fund may hold an underperforming security or not hold an outperforming security until the underlying index reacts. This may result in underperformance compared to the market generally. In addition, there is no assurance that the underlying index will be determined, composed or calculated accurately. While the index provider provides descriptions of what the underlying index is designed to achieve, the index provider does not guarantee the quality, accuracy or completeness of data in respect of its indices, and does not guarantee that the underlying index will be in line with the described index methodology. Gains, losses or costs to the fund caused by errors in the underlying index may therefore be borne by the fund and its shareholders.

7

STOXX® is a registered trademark of STOXX Ltd.

8

The STOXX® Index is the intellectual property (including registered trademarks) of STOXX Limited, Zurich, Switzerland ("STOXX"), Deutsche Börse Group or their licensors, which is used under license. The fund is neither sponsored nor promoted, distributed or in any other manner supported by STOXX, Deutsche Börse Group or their licensors, research partners or data providers and STOXX, Deutsche Börse Group and their licensors, research partners or data providers do not give any warranty, and exclude any liability (whether in negligence or otherwise) with respect thereto generally or specifically in relation to any errors, omissions or interruptions in the STOXX® Index or its data.

10

Per-share distributions are determined on ex-date 12/15/2022 for shareholders of record the business day after the ex-date.

12

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.

13

ESGY, MID: The fund is classified as non-diversified. Because it is non-diversified, it may hold large positions in a small number of securities. To the extent it maintains such positions; a price change in any one of those securities may have a greater impact on the fund's share price than if it were diversified.

14

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

Proxy Portfolio Risk:
The goal of the Proxy Portfolio is to track closely the daily performance of the Actual Portfolio. The Proxy Portfolio is designed to reflect the economic exposures and the risk characteristics of the Actual Portfolio on any given trading day.

  • ETFs trading on the basis of a published Proxy Portfolio may exhibit wider premiums and discounts, bid/ask spreads, and tracking error than other ETFs using the same investment strategies that publish their portfolios on a daily basis, especially during periods of market disruption or volatility. Therefore, shares of the fund may cost investors more to trade than shares of a traditional ETF.
  • Each day the fund calculates the overlap between the holdings of the prior Business Day's Proxy Portfolio compared to the Actual Portfolio (Proxy Overlap) and the difference, in percentage terms, between the Proxy Portfolio per share NAV and that of the Actual Portfolio (Tracking Error).
  • Although the fund seeks to benefit from keeping its portfolio information secret, market participants may attempt to use the Proxy Portfolio to identify a 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.

Premium/Discount Risk: Although the Proxy Portfolio is intended to provide investors with enough information to allow for an effective arbitrage mechanism that will keep the market price of the fund at or close to the underlying net asset value (NAV) per share of the fund, there is 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.

Trading Issues Risk:
 Trading halts may have a greater impact on this fund compared to other ETFs due to the fund's nontransparent structure.

Authorized Participant Concentration Risk:
Only an authorized participant may engage in creation or redemption transactions directly with the fund. The fund may have a limited number of institutions that act as authorized participants. The fact that the fund is offering a novel and unique structure may affect the number of entities willing to act as Authorized Participants. During times of market stress, Authorized Participants may be more likely to step away from this type of ETF than a traditional ETF.

Many of American Century's investment strategies incorporate the consideration of environmental, social, and/or governance (ESG) factors into their investment processes in addition to traditional financial analysis. However, when doing so, the portfolio managers may not consider ESG factors with respect to every investment decision and, even when such factors are considered, they may conclude that other attributes of an investment outweigh ESG considerations when making decisions for the portfolio. The consideration of ESG factors may limit the investment opportunities available to a portfolio, and the portfolio may perform differently than those that do not incorporate ESG considerations. ESG data used by the portfolio managers often lacks standardization, consistency, and transparency, and for certain companies such data may not be available, complete, or accurate.

IRS Circular 230 Disclosure: American Century Companies, Inc. and its affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with American Century Companies, Inc. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties.

This information is for educational purposes only and is not intended as tax advice. Please consult your tax advisor for more detailed information or for advice regarding your individual situation.