Fund Evaluator:

American Century Global Bond Y Overview

American Century Global Bond Y (AGBWX) is an actively managed Taxable Bond Global Bond-USD Hedged fund. American Century Investments launched the fund in 2017.

The investment seeks long-term total return. Under normal market conditions, the fund invests at least 80% of its net assets in bonds. It invests primarily in companies located in developed countries world-wide (including the United States), but may also invest in emerging markets. Under normal market conditions, the fund will invest at least 40% of its assets in foreign investments (unless the portfolio managers deem market conditions unfavorable, in which case the fund would invest at least 30% of its assets in foreign investments).

About American Century Global Bond Y (AGBWX)

There are 2 members of the management team with an average tenure of 3.32 years: Lynn Chen (2021), Stephen Bartolini (2024). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: Bloomberg Global Aggregate TR Hdg USD index with a weighting of 100%. American Century Global Bond Y has 583 securities in its portfolio. The top 10 holdings constitute 32.5% 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 Global Bond Y is part of the Fixed Income global asset class and is within the Taxable Bond fund group. American Century Global Bond Y has 47.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.8% allocated to foreign stock, and 2.4% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 94.9% (48.7% domestic bond, 46.2% foreign bond and 1.1% convertible bond). American Century Global Bond Y has 0.9% of the portfolio in cash.

Assets Under Management

The fund has $115 million in total assets, which is below the $2 billion average for the Global Bond-USD Hedged 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.

AGBWX 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 Global Bond Y expense ratio is above average compared to funds in the Global Bond-USD Hedged category. American Century Global Bond Y has an expense ratio of 0.65%, which is 11% lower than its category average, making the fund expense ratio grade a C. 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 Global Bond Y has a portfolio turnover rate of 145%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 197% for the Global Bond-USD Hedged category.

Recently, in the month of June 2026, American Century Global Bond Y returned 0.5%, which earned it a grade of C, as the Global Bond-USD Hedged category had an average return of 0.5%. 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 Global Bond Y has a trailing yield of 5.09%, which is above the 3.99% category average. The fund normally distributes its income quarterly.

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 Global Bond Y Grades

Year to date, the fund has returned 1.6%, 0.4 percentage points better than the category, which translates into a grade of B. The fund has returned 3.6% over the past year (grade of C), 4.4% over the past three years (grade of D) and 0.3% per year over the past five years (grade of D) and 1.6% per year over the past 10 years (grade of D).

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