Investment objective & strategy
As of July 29, 2025 · prospectusObjective. The fund seeks high current income.
Strategy. Under normal market conditions, the fund invests at least 80% of its net assets in U.S. government debt securities, including U.S. Treasury securities and other securities issued or guaranteed by the U.S. government and its agencies and instrumentalities. Securities issued or guaranteed by the U.S. Treasury and certain U.S. government agencies or instrumentalities, such as the Government National Mortgage Association (Ginnie Mae), are supported by the full faith and credit of the U.S. government. Securities issued or guaranteed by other U.S. government agencies or instrumentalities, such as the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the Federal Home Loan Bank are not guaranteed by the U.S. Treasury or supported by the full … Under normal market conditions, the fund invests at least 80% of its net assets in U.S. government debt securities, including U.S. Treasury securities and other securities issued or guaranteed by the U.S. government and its agencies and instrumentalities. Securities issued or guaranteed by the U.S. Treasury and certain U.S. government agencies or instrumentalities, such as the Government National Mortgage Association (Ginnie Mae), are supported by the full faith and credit of the U.S. government. Securities issued or guaranteed by other U.S. government agencies or instrumentalities, such as the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the Federal Home Loan Bank are not guaranteed by the U.S. Treasury or supported by the full faith and credit of the U.S. government. However, these agencies or instrumentalities are authorized to borrow from the U.S. Treasury to meet their obligations. To generate additional income, the fund may purchase securities, including mortgage dollar rolls, in advance through when-issued and forward commitment transactions. The fund may commit up to 35% of its total assets to such transactions. The fund also may invest in derivative instruments such as options, futures contracts, options on futures contracts and swap agreements, or in mortgage- or asset-backed securities, provided that such investments are in keeping with the funds investment objective. When determining whether to sell a security, the portfolio managers consider, among other things, current and anticipated changes in interest rates, current valuation relative to alternatives in the market, general market conditions and any other factors deemed relevant by the portfolio managers. The fund may engage in active and frequent trading of portfolio securities to achieve its principal investment strategies. This may cause higher transaction costs and may affect performance. It may also result in the realization and distribution of capital gains.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Fixed Income Clearing Corp 3.66 04/01/2026 | — | $28.55M | 6.11% |
| US TREASURY N/B | — | $19.36M | 4.15% |
| US TREASURY N/B | — | $18.54M | 3.97% |
| US TREASURY N/B | — | $15.19M | 3.25% |
| US TREASURY N/B | — | $15.07M | 3.23% |
| CALIFORNIA-REF-TXBL | — | $13.15M | 2.82% |
| FNCL 5 4/26 | — | $11.92M | 2.55% |
| US TREASURY N/B | — | $9.01M | 1.93% |
| G2 MA8267 | — | $7.47M | 1.60% |
| G2 MA8268 | — | $7.45M | 1.59% |
Portfolio moves
Dec 31, 2025 → Mar 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. |
|---|---|---|
| Diversified Bond Fund · ADFIX, ADFAX, ACBPX, CDBCX, ADVRX, ADDVX, ADVYX, ADRVX, ACDOX | 26% | 0.01% |
| Short-Term Government Fund · TWUSX, TWAVX, TWUOX, TWACX, TWARX, ASGHX | 24% | 0.34% |
| Core Plus Fund · ACCNX, ACCUX, ACCQX, ACCKX, ACCPX, ACCTX, ACCYX | 17% | 0.01% |
Advisers
| Firm | Role |
|---|---|
| American Century Investment Management, Inc. | Adviser |
Footnotes
- Expense ratio as of July 29, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 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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