Investment objective & strategy
As of Nov. 25, 2025 · prospectusObjective. The fund seeks the highest total return consistent with its asset mix.
Strategy. One Choice 2035 Portfolio is a fund of funds, meaning that it seeks to achieve its objective by investing in other American Century mutual funds (the underlying funds) that represent a variety of asset classes and investment styles. The underlying stock funds draw on growth, value and quantitative investment techniques and diversify investments among small, medium and large U.S. and foreign companies. The underlying bond funds invest in fixed-income securities that vary by issuer type (corporate and government), credit quality (investment-grade and high-yield or junk bonds) and geographic exposure (domestic and international). Short-term investments include underlying funds that invest in fixed-income or debt instruments and have a shorter-term weighted average duration, typically three years or less. The following table indicates … One Choice 2035 Portfolio is a fund of funds, meaning that it seeks to achieve its objective by investing in other American Century mutual funds (the underlying funds) that represent a variety of asset classes and investment styles. The underlying stock funds draw on growth, value and quantitative investment techniques and diversify investments among small, medium and large U.S. and foreign companies. The underlying bond funds invest in fixed-income securities that vary by issuer type (corporate and government), credit quality (investment-grade and high-yield or junk bonds) and geographic exposure (domestic and international). Short-term investments include underlying funds that invest in fixed-income or debt instruments and have a shorter-term weighted average duration, typically three years or less. The following table indicates the funds neutral mix; that is, how the funds investments generally will be allocated among the major asset classes as of the date of this prospectus. Equity Securities (Stock Funds) 54.0 % U.S. Equity 35.7 % International Equity 16.9 % Real Estate 1.4 % Fixed-Income Securities (Bond Funds) 40.9 % Short-Term Investments (Short-Term Funds) 5.1 % The target date in the fund name (2035) refers to the approximate year an investor plans to retire and likely would stop making new investments in the fund. The fund assumes a retirement age of 65 and may not be appropriate for an investor who plans to retire at or near the target date, but at an age well before or after 65. As the target date approaches, the funds neutral mix will become more conservative by decreasing the allocation to stocks and increasing the allocation to bonds and short-term investments. By the time the fund reaches its target date, the neutral mix will become fixed and match that of One Choice In Retirement Portfolio, which is currently 45% stock funds, 44.6% bond funds and 10.4% short-term funds. The fund is designed for investors who plan to withdraw the value of their account gradually after retirement. The following chart shows how the neutral mix is expected to change over time according to a predetermined glide path. The portfolio managers regularly review the funds allocations to determine whether rebalancing is appropriate. In order to better balance risks in changing market environments, the portfolio managers may make modest deviations from the neutral mix in light of prevailing market conditions. We reserve the right to modify the neutral mix and underlying funds from time to time should circumstances warrant a change.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| American Century Diversified Bond Fund - G Class | ACDOX | $266.09M | 17.39% |
| American Century Global Bond Fund - G Class | AGBGX | $154.25M | 10.08% |
| American Century Focused Large Cap Value Fund - G Class | ACFLX | $144.04M | 9.41% |
| American Century Large Cap Equity - G Class | AFEGX | $140.59M | 9.19% |
| American Century International Growth Fund G Class | ACAEX | $100.28M | 6.55% |
| American Century International Value Fund G Class | ACAFX | $88.90M | 5.81% |
| American Century Growth Fund G Class | ACIHX | $75.83M | 4.96% |
| American Century Inflation-Adjusted Bond Fund - G Class | AINGX | $67.92M | 4.44% |
| American Century High Income Fund G Class | ACHFX | $63.72M | 4.16% |
| American Century Mid Cap Value Fund G Class | ACIPX | $58.51M | 3.82% |
Portfolio moves
Oct 31, 2025 → Jan 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| One Choice 2030 Portfolio · ARCVX, ARCSX, ARCMX, ARCRX, ARWOX, ARCUX | 93% | 0.45% |
| One Choice 2040 Portfolio · ARDSX, ARDMX, ARDRX, ARDVX, ARNOX, ARDUX | 92% | 0.50% |
| One Choice In Retirement Portfolio · ARTOX, ARTAX, ATTIX, ARSRX, ATTCX, ARDTX | 87% | 0.41% |
Advisers
| Firm | Role |
|---|---|
| American Century Investment Management, Inc. | Adviser |
Footnotes
- Expense ratio as of November 25, 2025, from the fund's prospectus.
- Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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