Fund Evaluator:

American Century Global Small Cap I Overview

American Century Global Small Cap I (AGCSX) is an actively managed International Equity Global Small/Mid Stock fund. American Century Investments launched the fund in 2016.

The investment seeks capital growth. The fund will invest at least 80% of its net assets in securities issued by small cap companies. The portfolio managers consider small cap companies to include companies with market capitalizations not greater than that of the largest company on the MSCI ACWI Small Cap Index at the time of investment. The fund invests in countries world-wide, including the United States, foreign developed countries and emerging markets.

About American Century Global Small Cap I (AGCSX)

There are 2 members of the management team with an average tenure of 10.35 years: Trevor Gurwich (2016), Federico Laffan (2016). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100% and MSCI ACWI Small NR USD index with a weighting of 100%. American Century Global Small Cap I has 151 securities in its portfolio. The top 10 holdings constitute 16.6% 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 Small Cap I is part of the Equity global asset class and is within the International Equity fund group. American Century Global Small Cap I has 47.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 52.0%. There is 47.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). American Century Global Small Cap I has 0.8% of the portfolio in cash.

Assets Under Management

The fund has $12 million in total assets, which is below the $892 million average for the Global Small/Mid Stock 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.

AGCSX 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 Small Cap I expense ratio is high compared to funds in the Global Small/Mid Stock category. American Century Global Small Cap I has an expense ratio of 0.91%, which is 28% 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 Global Small Cap I has a portfolio turnover rate of 140%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 57% for the Global Small/Mid Stock category.

Recently, in the month of July 2026, American Century Global Small Cap I returned -7.8%, which earned it a grade of F, as the Global Small/Mid Stock category had an average return of -2.0%. 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 Small Cap I has a trailing yield of 0.87%, which is below the 1.34% category average.

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 Small Cap I Grades

Year to date, the fund has returned 4.0%, 6.9 percentage points worse than the category, which translates into a grade of F. The fund has returned 7.6% over the past year (grade of F), 8.7% over the past three years (grade of C) and 1.0% per year over the past five years (grade of D) and 11.2% per year over the past 10 years (grade of A).

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