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American Century Investments ETFs

Unthink ETFs™

Avantis Reaches 3-Year Milestone

The first five Avantis strategies have reached their three-year anniversary. We are grateful for all the tremendous relationships formed with our clients since 2019. Learn More About Avantis at 3 Years



Our active ETFs don't follow traditional thinking—they expand it. All with the purpose of giving you more options to manage portfolio risk, reduce the impact of fees and taxes, and enhance return potential. With American Century Investments, you get all the benefits of 60 years of active management in an ETF wrapper.

Our semitransparent active ETFs (also known as nontransparent ETFs) have the same features and potential benefits as traditional ETFs while protecting the intellectual property that is critical to generate alpha.1

  

Innovative

Variety of investment approaches that offer proactive solutions.

Upside potential

Alpha-seeking portfolios based on manager research and insights.

Lower Cost

Benefits of active management in a lower-cost, tax-efficient, liquid vehicle.

Innovative

Variety of investment approaches that offer proactive solutions.

Upside potential

Alpha-seeking portfolios based on manager research and insights.

Lower Cost

Benefits of active management in a lower-cost, tax-efficient, liquid vehicle.


QUICK LINKS

• Performance
• ETF Lineup
• Perspectives
• Education


Diverse Approaches, Independent Thinking

Investors face many complex decisions as they pursue their financial goals, so we designed our ETFs to meet different objectives. Our ETF lineup includes a full range of ETFs that help you seek better outcomes across market cycles.

U.S. Equity ETFs

Ticker Style Expense Ratio
Large Cap
Focused Dynamic Growth ETF1,2,4 FDG Growth 0.45%
STOXX® U.S. Quality Growth ETF2,3 QGRO Growth 0.29%
Sustainable Growth ETF1,2,5,6 ESGY Growth 0.39%
Low Volatility ETF2,7 LVOL Blend 0.29%
Sustainable Equity ETF1,2,5 ESGA Blend 0.39%
Focused Large Cap Value ETF1,2,4 FLV Value 0.42%
STOXX® U.S. Quality Value ETF2,3 VALQ Value 0.29%
Avantis U.S. Large Cap Value ETF* AVLV Value 0.15%
Mid Cap
Mid Cap Growth Impact ETF1,2,5,6 MID Growth 0.45%
Small Cap
Avantis U.S. Small Cap Equity ETF* AVSC Growth 0.25%
Avantis U.S. Small Cap Value ETF* AVUV Value 0.25%
All Cap
Avantis U.S. Equity ETF* AVUS Blend 0.15%
Avantis Responsible U.S. Equity ETF*,12  AVSU Blend 0.15%

Non-U.S. Equity ETFs

Ticker Style Expense Ratio
Large Cap
Quality Diversified International ETF2 QINT Blend 0.39%
Avantis International Large Cap Value ETF* AVIV Value 0.25%
Small Cap
Avantis International Small Cap Value ETF* AVDV Value 0.36%
All Cap
Avantis International Equity ETF* AVDE Blend 0.23%
Avantis Responsible International Equity ETF*,12 AVSD Blend 0.23%
Avantis Emerging Markets Equity ETF* AVEM Blend 0.33%
Avantis Responsible Emerging Markets Equity ETF*,12 AVSE Blend 0.33%
Avantis Emerging Markets Value ETF* AVES Value 0.36%

Fixed-Income ETFs

Ticker Duration Expense Ratio
Taxable
Multisector Income ETF2 MUSI Intermediate-Term 0.35%
Diversified Corporate Bond ETF2 KORP Intermediate-Term 0.29%
Select High Yield ETF2,11 AHYB Intermediate-Term 0.45%
Emerging Markets Bond ETF2 AEMB Intermediate-Term 0.39%
Avantis Core Fixed Income ETF* AVIG Intermediate-Term 0.15%
Avantis Short-Term Fixed Income ETF* AVSF Short-Term 0.15%
Tax-exempt
Diversified Municipal Bond ETF2 TAXF Intermediate-Term 0.29%
Avantis Core Municipal Fixed Income ETF* AVMU Intermediate-Term 0.15%

Diversifying ETFs

Ticker Style Expense Ratio
Convertible Bond
Quality Convertible Securities ETF2,8,10 QCON - 0.32%
Preferred Security
Quality Preferred ETF2,9,10 QPFF - 0.32%
Real Estate
Avantis Real Estate ETF* AVRE Blend 0.17%

    

 

1FDG, FLV, MID, ESGA, ESGY: 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.

  • You may have to pay more money to trade the ETFs' shares. These ETFs will provide less information to traders, who tend to charge more for trades when they have less information.
  • The price you pay to buy ETF shares on an exchange may not match the value of the ETF's portfolio. The same is true when you sell shares. These price differences may be greater for these ETFs compared to other ETFs because it provides less information to traders.
  • These additional risks may be even greater in bad or uncertain market conditions.
  • MID, ESGY and ESGA will publish on their website each day a "Proxy Portfolio" designed to help trading in shares of the ETF. While the Proxy Portfolio includes some of the ETF's holdings, it is not the ETF's actual portfolio.

The differences between these ETFs and other ETFs may also have advantages. By keeping certain information about the ETFs secret, these ETF may face less risk that other traders can predict or copy its investment strategy. This may improve the ETFs' performance. If other traders are able to copy or predict the ETFs' investment strategy, however, this may hurt the ETFs' performance.

For additional information regarding the unique attributes and risks of these ETFs, see the additional risk discussion at the end of this material.

    


3iSTOXX® and STOXX® are registered trademarks of STOXX Ltd.

*Established by American Century Investments, Avantis Investors® gives clients access to distinctive, systematic investment approaches informed by the latest academic and financial theory.


Diverse Approaches, Independent Thinking

Explore our ETF lineup in depth.


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.

2 The full names of these funds are as follows:
AEMB: American Century Emerging Markets Bond
AHYB: American Century Select High Yield
ESGA: American Century Sustainable Equity
ESGY: American Century Sustainable Growth
FDG: American Century Focused Dynamic Growth
FLV: American Century Focused Large Cap Value
KORP: American Century Diversified Corporate Bond
LVOL: American Century Low Volatility
MID: American Century Mid Cap Growth Impact
MUSI: American Century Multisector Income
QCON: American Century Quality Convertible Securities
QGRO: American Century STOXX U.S. Quality Growth
QINT: American Century Quality Diversified International
QPFF: American Century Quality Preferred
TAXF: American Century Diversified Municipal Bond
VALQ: American Century STOXX U.S. Quality Value

4FDG, FLV: 

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.

5MID, ESGA, ESGY: 

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.

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.

6MID, ESGY: 

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.

7LVOL: 

There is no assurance that the fund will be less volatile than the market over the long term or for any specified period. The fund’s strategy of constructing a portfolio that realizes lower volatility than the market may not produce the intended result. A security’s volatility can change very quickly, and specific securities in the fund’s portfolio may become more volatile than expected. Additionally, low volatility investments may underperform the equity markets during periods of strong, rising or speculative equity markets.

8QCON: 

Convertible securities are typically bond or debt securities and preferred stock that may be converted into a prescribed amount of common stock or other equity security of the issuing company at a particular time and price. The value of convertible securities may rise and fall with the market value of the associated common stock or, like a debt security, vary with changes in interest rates and the credit quality of the company issuing the bond or security. A convertible security tends to perform more like a stock when the associated common stock price is high relative to the conversion price and more like a debt security when the associated common stock price is low relative to the conversion price.

9QPFF: 

Preferred securities combine some of the characteristics of both common stocks and bonds. Preferred securities may receive preferential treatment compared to common stock regarding dividends, but they are typically subordinated to a company's other debt which subjects them to greater credit risk. Generally, holders of preferred securities have no voting rights. A company issuing preferred securities may defer dividend payments on the securities and may redeem the securities prior to a specified date. Preferred securities may also be substantially less liquid than other securities and may have less upside potential than common stock.

Floating rate securities are structured so that the security's coupon rate or the interest paid on a bond fluctuates based upon a reference rate. In a falling interest rate environment, the coupon on floating rate securities will generally decline, causing a reduction in the fund's income. A floating rate security's coupon rate resets periodically according to the terms of the security. In a rising interest rate environment, floating rate securities with coupon rates that reset infrequently may lag behind the changes in market interest rates. Floating rate securities may also contain terms that impose a maximum coupon rate the company issuing the security will pay, therefore decreasing the value of the security.

Concentrating investments in a particular industry or group of industries gives the fund greater exposure than other funds to market, economic and other factors affecting that industry or group of industries. The financials sector can be significantly affected by changes in interest rates, government regulation, the rate of defaults on corporate, consumer and government debt, and the availability and cost of capital.

10QCON, QPFF: 

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.

11AHYB: 

The lower rated securities in which the fund invests are subject to greater credit risk, default risk and liquidity risk.

12AVSD, AVSE, AVSU:

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.

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

Mutual Funds: American Century Investment Services, Inc., Distributor.

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

Past performance is no guarantee of future results. Investment returns will fluctuate and it is possible to lose money.