Fund Evaluator:

American Century Multisector Income A Overview

American Century Multisector Income A (ASIQX) is an actively managed Taxable Bond Multisector Bond fund. American Century Investments launched the fund in 2014.

The investment seeks income; long-term capital appreciation is the secondary consideration. The fund invests in both investment-grade and high-yield, non-money market debt securities. These securities may include corporate bonds and notes, government securities, collateralized loan obligations, collateralized mortgage obligations, and securities backed by mortgages or other assets. The fund may also invest in certain equity securities such as preferred stock, convertible securities or equity equivalents provided that such investments are consistent with the fund's investment objectives.

About American Century Multisector Income A (ASIQX)

There are 3 members of the management team with an average tenure of 5.67 years: Paul Norris (2023), Charles Tan (2019), Jason Greenblath (2019). 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 Multisector Income A has 373 securities in its portfolio. The top 10 holdings constitute 23.2% 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 Multisector Income A is part of the Fixed Income global asset class and is within the Taxable Bond fund group. American Century Multisector Income A has 13.6% 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 2.8% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 93.5% (79.9% domestic bond, 13.6% foreign bond and 1.6% convertible bond). American Century Multisector Income A has 2.1% of the portfolio in cash.

Assets Under Management

The fund has $10 million in total assets, which is below the $1 billion average for the Multisector 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.

ASIQX 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 Multisector Income A expense ratio is high compared to funds in the Multisector Bond category. American Century Multisector Income A has an expense ratio of 0.83%, which is 12% 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 Multisector Income A has a portfolio turnover rate of 162%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 162% for the Multisector Bond category.

Recently, in the month of July 2026, American Century Multisector Income A returned -0.8%, which earned it a grade of C, as the Multisector Bond category had an average return of -0.7%. 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 Multisector Income A has a trailing yield of 5.15%, which is below the 5.31% category average. The fund normally distributes its income monthly.

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 Multisector Income A Grades

Year to date, the fund has returned 0.2%, 0.6 percentage points worse than the category, which translates into a grade of D. The fund has returned 3.5% over the past year (grade of D), 5.7% over the past three years (grade of D) and 1.5% per year over the past five years (grade of F) and 3.2% per year over the past 10 years (grade of D).

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