YTD Total Return As of 04/19/2024 | -2.10% |
Nav As of 04/19/2024 | $8.68 |
Nav Change ($0.01) | 0.12% |
Provides broad emerging markets debt exposure seeking long-term total return by combining fundamental credit research and macroeconomic analysis.
Key Facts
Investment Objective | Seeks total return |
Inception Date | 07/29/2014 |
Morningstar Category | Emerging Markets Bond |
Benchmark | 50% JPM EMBI Global Diver/50% JPM GBI-EM Global DiverA |
Total Assets | $642,605,683 As of 03/31/2024 |
Total Holdings | 221 As of 02/29/2024 |
Distribution Frequency | Quarterly |
Morningstar Overall Rating Based on risk-adjusted return | Out of 224 funds. Emerging Markets Bond category As of 03/31/2024 |
Fees
| Gross Expense Ratio | 1.01% |
| Net Expense Ratio | 0.98% |
| All Accounts With $100 monthly automatic investment | $500 |
| IRA & CESAs With no automatic investment | $1,000 |
| All other accounts With no automatic investment | $2,500 |
Trading Information
| Ticker | AEDVX |
| CUSIP | 025082835 |
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance, placing more emphasis on downward variations and rewarding consistent performance.
Fixed Income Capabilities
Learn more about our full line-up of bond funds that pursue conviction-driven outperformance.
Fees
| Gross Expense Ratio | 1.01% |
| Net Expense Ratio | 0.98% |
| All Accounts With $100 monthly automatic investment | $500 |
| IRA & CESAs With no automatic investment | $1,000 |
| All other accounts With no automatic investment | $2,500 |
Trading Information
| Ticker | AEDVX |
| CUSIP | 025082835 |
Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value fluctuates. Redemption value may be more or less than original cost. Returns less than one year are not annualized.
Average annual total 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. For periods prior to the inception of a class, performance is for the oldest class, restated with applicable fees, if any.
Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value fluctuates. Redemption value may be more or less than original cost. Returns less than one year are not annualized.
30-Day SEC Subsidized Yield
6.13%
As of 03/28/2024
30-Day SEC UnSubsidized Yield
6.10%
As of 03/28/2024
30-Day SEC Yield (Subsidized/Unsubsidized): 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. Subsidized yield reflects fee waivers and/or expense reimbursements during the period. Without waivers and/or reimbursements, yields would be reduced. Unsubsidized yield does not adjust for any fee waivers and/or expense reimbursements in effect.
Yield to Worst: Lowest yield possible for a security given the current price, taking into account both call dates and maturity.
Yield to Maturity: The internal rate of return of the security based on the given market price—it is the single discount rate that equates a security price (inclusive of accrued interest) with its projected cashflows.
Past performance is no guarantee of future results. Investment returns will fluctuate and it is possible to lose money.
FREQUENCY
Quarterly
| Total Paid | Ordinary Dividends | Reinvest Price | |
|---|---|---|---|
| 03/19/2024 | $0.0932 | $0.0932 | $8.81 |
| 12/19/2023 | $0.1793 | $0.1793 | $8.88 |
| 09/19/2023 | $0.0887 | $0.0887 | $8.61 |
| 06/20/2023 | $0.1094 | $0.1094 | $8.81 |
| Overall | Out of 224 funds. Emerging Markets Bond category |
| 3 Year | Out of 224 funds |
| 5 Year | Out of 209 funds |
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance, placing more emphasis on downward variations and rewarding consistent performance.
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10- year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
| Risk Measures | |
|---|---|
| Alpha | -0.46 |
| Beta | 0.80 |
| R-Squared | 0.93 |
| Standard Deviation | 8.67 |
| Sharpe Ratio | -0.57 |
Relative to the 50% JPM EMBI Global Diver/50% JPM GBI-EM Global Diver
Past performance is no guarantee of future results. Investment returns will fluctuate and it is possible to lose money.
As of 02/29/2024
| EM Sovereign | 75% |
| EM Corporate | 13% |
| EM Quasi-Sovereign | 9% |
| Treasury | 2% |
| Cash & Cash Equivalents | 2% |
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 02/29/2024
| Czech Republic Government Bond 0.25 02/10/2027 | 3.82% |
| Indonesia Treasury Bond 6.50 02/15/2031 | 3.39% |
| Thailand Government Bond 2.40 03/17/2029 | 3.32% |
| Colombian TES 6.00 04/28/2028 | 3.28% |
| Republic of South Africa Government Bond 8.50 01/31/2037 | 2.93% |
| Mexican Bonos 5.50 03/04/2027 | 2.87% |
| US 5YR NOTE (CBT) Jun24 | 2.41% |
| Republic of Poland Government Bond 2.50 07/25/2027 | 2.37% |
| US ULTRA BOND CBT Jun24 | 1.96% |
| Mexican Bonos 10.00 11/20/2036 | 1.90% |
| % of Top Portfolio Holdings | 28.25% |
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 02/29/2024
| U.S. Government | 2.21% |
| AA | 5.26% |
| A | 16.20% |
| BBB | 38.99% |
| BB | 18.46% |
| B | 12.79% |
| CCC | 2.17% |
| CC | 1.04% |
| C | 0.08% |
| D | 1.04% |
| Non Rated | 0.14% |
| Cash and Cash Equivalents | 1.62% |
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 02/29/2024
| 0 - 1 Years | 7.26% |
| 1 - 3 Years | 8.76% |
| 3 - 5 Years | 22.64% |
| 5 - 10 Years | 34.18% |
| 10 - 20 Years | 16.60% |
| 20 - 30 Years | 10.06% |
| 30+ Years | 0.49% |
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.
8.52 Years Weight Average Life to Maturity
As of 03/31/2024
As of 02/29/2024
| 0 - 2.5% | 15.24% |
| 2.5 - 3% | 6.97% |
| 3 - 3.5% | 4.22% |
| 3.5 - 4% | 2.87% |
| 4 - 4.5% | 4.05% |
| 4.5 - 5% | 10.89% |
| 5 - 5.5% | 4.93% |
| 5.5 - 6% | 8.36% |
| 6 - 6.5% | 12.06% |
| 6.5 - 7% | 7.92% |
| 7 - 7.5% | 2.60% |
| 7.5 - 8% | 3.30% |
| 8 - 8.5% | 5.49% |
| 8.5 - 9% | 6.86% |
| 9 - 9.5% | 0.27% |
| 9.5 - 10% | 1.33% |
| 10+% | 2.66% |
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.
5.25% Average Coupon
As of 02/29/2024
| 0 - 2 Years | 8.97% |
| 2 - 4 Years | 28.99% |
| 4 - 6 Years | 19.86% |
| 6 - 8 Years | 20.70% |
| 8 - 10 Years | 9.46% |
| 10 - 15 Years | 9.07% |
| 15+ Years | 2.94% |
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.
5.74 Years Average Effective Duration
How To Buy
Individual Investors: Open a new account or use an existing account registration
Open New Account Log In NowFinancial Advisors: Contact your wholesaler at 1-800-345-6488 for more information
Returns or yields for the fund would have been lower if .03% of the fund's management fee had not been waived. The advisor expects this waiver to continue until July 31, 2024, and cannot terminate it prior to such date without the approval of the Board of Trustees. Review the annual or semiannual report for the most current information.
The advisor has agreed to waive the G Class's management fee in its entirety. The advisor expects this fee waiver to remain in effect permanently and cannot terminate it without the approval of the Board of Trustees.
International investing involves special risks, such as political instability and currency fluctuations. Investing in emerging markets may accentuate these risks.
The lower rated securities in which the fund invests are subject to greater credit risk, default risk and liquidity risk.
Generally, as interest rates rise, the value of the bonds held in the fund will decline. The opposite is true when interest rates decline.
Please see the prospectus for details about sales charges.
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.
Investor Class Shares: Minimum initial investment is $1,000 for IRA and CESA accounts, and $2,500 for non-retirement accounts, but these minimums are waived with an initial investment of at least $500 per account and automatic investments of at least $100 per month. Non-Retirement Accounts: If your account balance falls below the minimum, or if you cancel your automatic monthly investment plan prior to reaching the minimum, American Century Investments may redeem the account and send the proceeds to you. Prior to doing so, we will notify you and give you 90 days to meet the minimum or reinstate your automatic monthly investment plan.
The J.P. Morgan Emerging Markets Bond Index Global Diversified tracks total returns for U.S. dollar-denominated debt instruments issued by emerging market sovereign and quasi-sovereign entities that meet specific liquidity and structural requirements. The J.P. Morgan GBI-EM Global Diversified 10% Cap 1% Floor (GBI-EM Global 10/1) is designed to track the performance of bonds issued by emerging market governments and denominated in the local currency of the issuer.
Alpha: Typically used to represent the value added or subtracted by active investment management strategies. It shows how an actively managed investment portfolio performed compared with the expected portfolio returns produced simply by benchmark volatility (beta) and market changes. A positive alpha shows that an investment manager has been able to capture more of the upside movement in the benchmark while softening the downswings. A negative alpha means that the manager's strategies have caught more benchmark downside than upside.
Beta: Standard measurement of potential investment risk and return. It shows how volatile a security's or an investment portfolio's returns have been compared with their respective benchmark indices. A benchmark index's beta always equals 1. A security or portfolio with a beta greater than 1 had returns that fluctuated more, both up and down, than those of its benchmark, while a beta of less than 1 indicates less fluctuation than the benchmark.
R-Squared: Portfolio performance and risk measure that indicates how much of a portfolio's performance fluctuations were attributable to movements in the portfolio's benchmark index. R-squared can range from 0-100%. An r-squared of 100% indicates that all portfolio performance movements were attributable to movements in the benchmark index-they correlate perfectly to the benchmark. Conversely, an r-squared of 0% indicates that there is no correlation between the performance movements of the portfolio and the benchmark.
Standard Deviation: Statistical measurement of variations from the average. In financial literature, it's often used to measure risk, when risk is measured or defined in terms of volatility. In general, more risk means more volatility, and more volatility means a higher standard deviation-there's more variation from the average of the data being measured. In this context, reducing risk means seeking lower standard deviation.
Sharpe Ratio: Simple but useful risk-adjusted measure of returns, showing the amount of return (reward) earned per unit of risk from any asset with a risk component. The higher the Sharpe Ratio, the better, theoretically, the portfolio's risk-adjusted performance-portfolios with higher Sharpe Ratios tend to provide more return for the same amount of risk. The Sharpe Ratio is useful, but not perfect. It can be skewed by irregular return factors that can upset the standard deviation calculation, and it doesn't take into account the market risk (beta) exposure of the portfolio.
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. Issues that are 50+% owned or backed by a government are considered Quasi-Sovereign.
Top Holdings: This value represents the top holdings included in the portfolio on a percent of assets basis. Equity holdings are grouped to include common shares, depository receipts, rights and warrants issued by the same company. Holdings are rounded to the nearest whole number, which may result in the display of less than ten holdings.
Quality: Describes the portfolio of the fund in terms of the quality ratings of the securities it holds. Cash and cash equivalents include payable amounts related to securities purchased but not settled at period end. Credit quality ratings on underlying securities of a fund are obtained from three Nationally Recognized Statistical Rating Organizations ("NRSROs"), Standard & Poor's, Moody's and Fitch. Ratings are converted to the equivalent Standard & Poor's rating category for purposes of presentation. The median rating is used for securities rated by all three NRSROs. The common rating is used when two of the three NRSROs agree. The lower rating is used when only two NRSROs rate a security. A "nonrated" designation is assigned when a public rating is not available for a security. This designation does not necessarily indicate low credit quality. The letter ratings are provided to indicate the credit worthiness of the underlying bonds in the portfolio and generally range from AAA (highest) to D (lowest). Includes payable amounts related to securities purchased but not settled at period end.
Maturity: Describes the portfolio of the fund in terms of the different maturities of the securities it holds.
Weighted Average Life to Maturity (WALM): Is a measure of the sensitivity of a fixed income portfolio to interest rate changes. WALM is the average time in years to receive the principal repayments. Accordingly, WALM reflects how a portfolio would react to deteriorating credit or tightening liquidity conditions.
Coupon: Describes the portfolio of the fund in terms of the different coupons of the securities it holds.
Duration: Describes the portfolio of the fund in terms of the different durations of the securities it holds.
For detailed descriptions of indices or investing terms referenced above, refer to our glossary.
Information has been obtained from sources believed to be reliable but J.P. Morgan does not warrant its completeness or accuracy. The Index may not be copied, used or distributed without J.P. Morgan's prior written approval. ©2024, J.P. Morgan Chase & Co. All rights reserved.
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