Fund Evaluator:

American Century Diversified Bond G Overview

American Century Diversified Bond G (ACDOX) is an actively managed Taxable Bond Intermediate Core Bond fund. American Century Investments launched the fund in 2022.

The investment seeks a high level of income by investing in non-money market debt securities. Under normal market conditions, the fund invests at least 80% of its net assets in high- and medium-grade, non-money market debt securities. It invests most of its assets in investment-grade securities. The weighted average maturity of the fund's portfolio must be three and one-half years or longer.

About American Century Diversified Bond G (ACDOX)

There are 4 members of the management team with an average tenure of 4.26 years: Paul Norris (2023), Charles Tan (2018), Stephen Bartolini (2024), Jason Greenblath (2021). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. American Century Diversified Bond G has 485 securities in its portfolio. The top 10 holdings constitute 20.9% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

American Century Diversified Bond G is part of the Fixed Income global asset class and is within the Taxable Bond fund group. American Century Diversified Bond G has 7.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 1.4% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 95.9% (89.0% domestic bond, 7.0% foreign bond and 0.8% convertible bond). American Century Diversified Bond G has 1.9% of the portfolio in cash.

Assets Under Management

The fund has $2 billion in total assets, which is below the $3 billion average for the Intermediate Core Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

ACDOX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The American Century Diversified Bond G expense ratio is low compared to funds in the Intermediate Core Bond category. American Century Diversified Bond G has an expense ratio of 0.01%, which is 98% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. American Century Diversified Bond G has a portfolio turnover rate of 161%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 151% for the Intermediate Core Bond category.

Recently, in the month of July 2026, American Century Diversified Bond G returned -1.2%, which earned it a grade of A, as the Intermediate Core Bond category had an average return of -1.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

American Century Diversified Bond G has a trailing yield of 5.05%, which is above the 4.04% category average. The fund normally distributes its income monthly and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

American Century Diversified Bond G Grades

Year to date, the fund has returned -0.3%, 0.4 percentage points better than the category, which translates into a grade of A. The fund has returned 3.3% over the past year (grade of A), 4.3% over the past three years (grade of A) and -0.1% per year over the past five years (grade of A) and 1.5% per year over the past 10 years (grade of B).

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