My Account

Overview

Seeks to deliver attractive returns with lower volatility than the S&P 500® Index over time by actively applying quantitative models to identify profitable securities with attractive fundamentals, strong balance sheets and lower business risks. Manages portfolio volatility and downside risk through liquidity, sector, industry and credit rating constraints.

Key Facts
Investment Objective
Seeks capital appreciation
Inception Date
01/12/2021
Morningstar Category
Large Blend
Benchmark
S&P 500 IndexA
Total Assets
$9,024,984.99
As of 10/03/2023
Shares Outstanding
210,000.00
As of 10/03/2023
Total Holdings
73
As of 08/31/2023
Distribution Frequency
Quarterly
Fees
Gross Expense Ratio
0.29%
Trading Information
Ticker
LVOL
CUSIP
025072513
ISIN
US0250725134
SEDOL
BMH57N3
Exchange
NYSE Arca

Trading

As of 10/03/2023
Daily Market Prices
Closing Price
$42.95
Bid Ask Midpoint
$42.99
Day High Price
$42.94
Day Low Price
$42.94
Bid Ask Spread
0.12%
30-Day Median Bid Ask Spread
0.11%
52-Week Range
52-Week High
$46.34
52-Week Low
$38.25

Premium Discount

As of 10/03/2023

0.02%

Performance

LVOL
Market Price
S&P 500 IndexA

Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Returns less than one year are not annualized. Net asset value (NAV) prices are used to calculate market price performance prior to the date when the fund first traded on the New York Stock Exchange. Market performance is determined using the bid/ask midpoint at 4:00 p.m. Eastern time, when the NAV is typically calculated. Market performance does not represent the returns you would receive if you traded shares at other times. Index performance does not represent the fund's performance. It is not possible to invest directly in an index.

Average annual returns illustrate the annual compounded returns that would have produced the cumulative total return if the fund's performance had remained constant throughout the period indicated. Returns for periods less than one year are not annualized.

30-Day SEC Unsubsidized Yield: Represents net investment income earned by a fund over a 30-day period, expressed as an annual percentage rate based on the fund's share price at the end of the 30-day period. Unsubsidized yield does not adjust for any fee waivers and/or expense reimbursements in effect.

12 Month Distribution Rate: The sum of a fund's total trailing 12-month interest and dividend payments divided by the most recent day's ending share price (NAV).

Data is not available at this time

Past performance is no guarantee of future results. Investment returns will fluctuate and it is possible to lose money.

Total Paid
Ordinary Dividends
Reinvest Price
09/21/2023
$0.1954
$0.1954
$44.23
06/20/2023
$0.1604
$0.1604
$44.62
03/23/2023
$0.1386
$0.1386
$41.56
12/15/2022
$0.1744
$0.1744
$42.42

Historical Distribution (CSV)

Portfolio

As of 08/31/2023

Weighted Average Market Cap
398.78 B

Holdings
73

As of 08/31/2023
% Portfolio
Due to rounding, these values may exceed 100%Negative weights may be due to open security or capital stock trades at period end and/or unrealized loss on derivative positions as a percent of net assets at period end.
As of 08/31/202373 Equity Issues
As of 08/31/2023
Sectors
% Portfolio
Information Technology
23%
Financials
22%
Industrials
14%
Health Care
13%
Consumer Staples
13%
Consumer Discretionary
6%
Communication Services
5%
Materials
3%
Real Estate
1%
Utilities
<1%
Due to rounding, these values may exceed 100%
As of 10/03/2023
Company
% Portfolio
CISCO SYSTEMS INC COMMON STOCK USD.001
4.24%
BERKSHIRE HATHAWAY INC CL B COMMON STOCK USD.0033
4.07%
PROCTER + GAMBLE CO/THE COMMON STOCK
3.63%
MICROSOFT CORP COMMON STOCK USD.00000625
3.61%
MARSH + MCLENNAN COS COMMON STOCK USD1.0
3.35%
VISA INC CLASS A SHARES COMMON STOCK USD.0001
3.33%
ABBOTT LABORATORIES COMMON STOCK
3.28%
COCA COLA CO/THE COMMON STOCK USD.25
3.20%
LINDE PLC COMMON STOCK
3.12%
GENERAL DYNAMICS CORP COMMON STOCK USD1.0
3.12%
% of Top Portfolio Holdings
34.95%
Due to rounding, these values may exceed 100%Negative weights may be due to open security or capital stock trades at period end and/or unrealized loss on derivative positions as a percent of net assets at period end.
View All Holdings
As of 08/31/2023
Countries
Regions
Countries
% Portfolio
United States
100%
Due to rounding, these values may exceed 100%

Team

Stephen Quance avatar
Stephen Quance

Vice President, Portfolio Manager

Head of Disciplined Equity Group Investments

Firm Start

2023


Industry Start

2003

Yulin Long, Ph.D., CFA avatar
Yulin Long, Ph.D., CFA

Vice President, Portfolio Manager

Head of Quantitative Research

Firm Start

2005


Industry Start

2004

Rene Casis avatar
Rene Casis

Vice President

Portfolio Manager

Firm Start

2018


Industry Start

1999

Resources

Fund Literature
Fact Sheet
Additional Resources

Index performance does not represent the fund's performance. It is not possible to invest directly in an index.

Exchange Traded Funds (ETFs) are bought and sold through exchange trading at market price (not NAV), and are not individually redeemed from the fund. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns.

This fund is an actively managed ETF that does not seek to replicate the performance of a specified index. To determine whether to buy or sell a security, the portfolio managers consider, among other things, various fund requirements and standards, along with economic conditions, alternative investments, interest rates and various credit metrics. If the portfolio manager considerations are inaccurate or misapplied, the fund's performance may suffer.

There is no assurance that the fund will be less volatile than the market over the long term or for any specified period. The fund’s strategy of constructing a portfolio that realizes lower volatility than the market may not produce the intended result. A security’s volatility can change very quickly, and specific securities in the fund’s portfolio may become more volatile than expected. Additionally, low volatility investments may underperform the equity markets during periods of strong, rising or speculative equity markets.

The gross expense ratio is the fund's total annual operating costs, expressed as a percentage of the fund's average net assets for a given time period. It is gross of any fee waivers or expense reimbursement. The net expense ratio is the expense ratio after the application of any waivers or reimbursement. This is the actual ratio that investors paid during the fund's most recent fiscal year. Please see the prospectus for more information.

Brokerage Services are provided by American Century Brokerage, a division of American Century Investment Services, Inc., registered broker/dealer, member FINRASIPC.

S&P 500® Index

The S&P 500® Index is composed of 500 selected common stocks most of which are listed on the New York Stock Exchange. It is not an investment product available for purchase.

Closing Price: The price of the last reported trade on the fund's primary exchange.

Bid Ask Midpoint: The midpoint between the highest bid and the lowest offer on the primary listing exchange, as of the time that the Fund's NAV is calculated, generally around 4 p.m. (Eastern time).

Premium Discount: A premium is the amount that the fund is trading above the reported NAV, expressed as a percentage of the NAV. A discount is the amount that the fund is trading below the reported NAV, expressed as a percentage of the NAV.

ETF Market Performance (Inception to Date): The fund's per share Net Asset Value (NAV) is the value of one share of the fund. Market Price is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which the shares of the fund are listed for trading, as of the time that the fund's NAV is calculated. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. Since shares of the fund did not trade in the secondary market until after the fund's inception, for the period from inception to the first day of secondary market trading in shares of the fund, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively.

Weighted Average Market Cap: The weighted average market value of a company's outstanding shares.

Holdings: The number of holdings in the fund excluding cash positions and derivatives such as futures and currency forwards.

Investment Blend: Reflects the blend of securities owned by a fund. For example, the percentage of foreign or domestic stocks held by an equity fund or the percentage of corporate and government securities owned by a bond fund. The U.S./Foreign Convertibles grouping includes Convertible Bonds, Equity Linked Securities and Convertible Preferred securities.

Sector Weights: This value represents the sectors included in the portfolio on a percent of assets basis.

Top Holdings: This value represents the top holdings included in the portfolio on a percent of assets basis. Holdings are subject to change without notice. Shares are units of ownership interest in a corporation or financial asset that provide for an equal distribution in any profits, if any are declared, in the form of dividends. In the context of debt instruments, principal can refer to the face value, or par value, of a bond—that is, the actual amount listed on the bond itself. American Century Investments publishes this listing of identities and quantities of each position held by the fund on each business day, before commencement of trading. Securities are reported at market value. The portfolio data and its presentation here may differ from the complete schedules of investments in regulatory filings due to differing accounting and reporting requirements.

Countries: This value represents the countries included in the portfolio on a percent of assets basis.

Regions: This value represents the regions of the country represented by the securities included in the portfolio on a percent of assets basis.

For detailed descriptions of indices or investing terms referenced above, refer to our glossary.

©2023 Standard & Poor's Financial Services LLC. All rights reserved. For intended recipient only. No further distribution and/or reproduction permitted. Standard & Poor's Financial Services LLC ("S&P") does not guarantee the accuracy, adequacy, completeness or availability of any data or information contained herein and is not responsible for any errors or omissions or for the results obtained from the use of such data or information. S&P GIVES NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE IN CONNECTION TO THE DATA OR INFORMATION INCLUDED HEREIN. In no event shall S&P be liable for any direct, indirect, special or consequential damages in connection with recipient's use of such data or information.

©2023 Morningstar, Inc. All Rights Reserved. Certain information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Exchange Traded Funds (ETFs): Foreside Fund Services, LLC - Distributor, not affiliated with American Century Investment Services, Inc.