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American Century Short Dur Inf PrBd Inv Overview

American Century Short Dur Inf PrBd Inv (APOIX) is an actively managed Taxable Bond Short-Term Inflation-Protected Bond fund. American Century Investments launched the fund in 2005.

The investment seeks total return using a strategy that seeks to protect against U.S. inflation. The fund normally invests at least 80% of its net assets in inflation-linked debt securities. It invests primarily in investment-grade securities, but may also invest a portion of its assets in high-yield securities, or junk bonds. The fund also may invest a portion of its net assets in fixed-income securities that are not linked to inflation. It may invest up to 20% of its total assets in securities denominated in foreign currencies and may invest beyond this limit in U.S. dollar denominated securities of foreign issuers.

About American Century Short Dur Inf PrBd Inv (APOIX)

There are 3 members of the management team with an average tenure of 11.06 years: James Platz (2007), Miguel Castillo (2014), Stephen Bartolini (2024). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg U.S. Treasury TIPS 1-5Y TR USD index with a weighting of 100%. American Century Short Dur Inf PrBd Inv has 119 securities in its portfolio. The top 10 holdings constitute 63.0% 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 Short Dur Inf PrBd Inv is part of the Fixed Income global asset class and is within the Taxable Bond fund group. American Century Short Dur Inf PrBd Inv has 2.2% 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 0.3% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 96.5% (94.3% domestic bond, 2.2% foreign bond and 0.0% convertible bond). American Century Short Dur Inf PrBd Inv has 3.2% of the portfolio in cash.

Assets Under Management

The fund has $196 million in total assets, which is below the $1 billion average for the Short-Term Inflation-Protected 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.

APOIX 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 Short Dur Inf PrBd Inv expense ratio is above average compared to funds in the Short-Term Inflation-Protected Bond category. American Century Short Dur Inf PrBd Inv has an expense ratio of 0.61%, which is 18% higher than its category average, making the fund expense ratio grade a D. 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 Short Dur Inf PrBd Inv has a portfolio turnover rate of 59%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 63% for the Short-Term Inflation-Protected Bond category.

Recently, in the month of July 2026, American Century Short Dur Inf PrBd Inv returned 0.2%, which earned it a grade of B, as the Short-Term Inflation-Protected Bond category had an average return of 0.1%. 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 Short Dur Inf PrBd Inv has a trailing yield of 3.53%, which is below the 4.56% category average. The fund normally distributes its income quarterly 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 Short Dur Inf PrBd Inv Grades

Year to date, the fund has returned 1.7%, 0.2 percentage points better than the category, which translates into a grade of B. The fund has returned 3.1% over the past year (grade of C), 4.8% over the past three years (grade of D) and 2.6% per year over the past five years (grade of C) and 2.9% per year over the past 10 years (grade of D).

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