YTD Total Return As of 01/29/2026 | 0.49% |
Nav As of 01/29/2026 | $5.20 |
Nav Change (-$0.01) | -0.19% |
An innovative approach to high-yield investing aims to deliver attractive income using a systematic, disciplined, model-driven approach to active security selection.
Key Facts
Investment Objective | Seeks high current income. As a secondary objective, the fund seeks capital appreciation but only when consistent with its primary objective of maximizing current income. |
Inception Date | 09/30/1997 |
Morningstar Category | High Yield Bond |
Benchmark | ICE BofA US High Yield Constrained Index (Unhedged)A |
Total Assets | $87,777,174 As of 12/31/2025 |
Total Holdings | 304 As of 11/30/2025 |
Distribution Frequency | Monthly |
Morningstar Overall Rating Based on risk-adjusted return | Out of 584 funds. High Yield Bond category As of 12/31/2025 |
Fees
| Gross Expense Ratio | 0.70% |
Trading Information
| Ticker | ABHIX |
| CUSIP | 024932808 |
Morningstar ratings vary among share classes and are based on historical risk-adjusted total returns.
Fixed-Income Capabilities
Learn more about our full lineup of bond funds that pursue conviction-driven outperformance.
Fees
| Gross Expense Ratio | 0.70% |
Trading Information
| Ticker | ABHIX |
| CUSIP | 024932808 |
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. Index performance does not represent the fund's performance. It is not possible to invest directly in an index.
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. Index performance does not represent the fund's performance. It is not possible to invest directly in an index.
30-Day SEC Subsidized Yield
--
As of 12/31/2025
30-Day SEC UnSubsidized Yield
5.87%
As of 12/31/2025
YIELD TO WORST
6.23%
As of 12/31/2025
YIELD TO MATURITY
6.78%
As of 12/31/2025
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
Monthly
Daily Dividend Accrual
+0.000877603
As of 01/29/2026
| Total Paid | Ordinary Dividends | Reinvest Price | |
|---|---|---|---|
| 12/31/2025 | $0.028120188 | $0.028120188 | $5.20 |
| 12/04/2025 | -- | -- | $5.19 |
| 11/28/2025 | $0.025466356 | $0.025466356 | $5.19 |
| 10/31/2025 | $0.029033194 | $0.029033194 | $5.18 |
| 09/30/2025 | $0.026029149 | $0.026029149 | $5.20 |
| 08/29/2025 | $0.027523676 | $0.027523676 | $5.17 |
| 07/31/2025 | $0.025943886 | $0.025943886 | $5.13 |
| 06/30/2025 | $0.023019324 | $0.023019324 | $5.15 |
| 05/30/2025 | $0.024647969 | $0.024647969 | $5.09 |
| 04/30/2025 | $0.02442568 | $0.02442568 | $5.05 |
| 03/31/2025 | $0.022832244 | $0.022832244 | $5.06 |
| 02/28/2025 | $0.024516014 | $0.024516014 | $5.13 |
| 01/31/2025 | $0.023205916 | $0.023205916 | $5.11 |
As of June 24, 2025, High-Yield Fund changed its investment process from a fundamental approach to a systematic approach.
Also as of June 24, 2025, the fund’s benchmark was changed to the ICE BofA U.S. High Yield Constrained Index. Previously, its benchmark was the Bloomberg U.S. High-Yield 2% Issuer Capped Bond Index.
| Overall | Out of 584 funds. High Yield Bond category |
| 3 Year | Out of 584 funds |
| 5 Year | Out of 548 funds |
| 10 Year | Out of 445 funds |
Morningstar ratings vary among share classes and are based on historical risk-adjusted total returns.
| Risk Measures | |
|---|---|
| Alpha | -1.03 |
| Beta | 0.95 |
| R-Squared | 0.97 |
| Standard Deviation | 4.69 |
| Sharpe Ratio | 0.66 |
Relative to the ICE BofA US High Yield Constrained Index (Unhedged)
Past performance is no guarantee of future results. Investment returns will fluctuate and it is possible to lose money.
As of 12/31/2025
| Credit | 94% |
| Cash & Cash Equivalents | 5% |
| Emerging Markets | 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 12/31/2025
| US 10YR NOTE (CBT)Mar26 | 3.71% |
| DISH Network Corp 11.75 11/15/2027 | 0.59% |
| ZF North America Capital Inc 7.13 04/14/2030 | 0.54% |
| EchoStar Corp 10.75 11/30/2029 | 0.54% |
| Mauser Packaging Solutions Holding Co 7.88 04/15/2030 | 0.53% |
| Carvana Co 9.00 06/01/2031 | 0.52% |
| Windstream Services LLC / Windstream Escrow Finance Corp 8.25 10/01/2031 | 0.51% |
| CVS Health Corp 7.00 03/10/2055 | 0.49% |
| Connect Finco SARL / Connect US Finco LLC 9.00 09/15/2029 | 0.49% |
| JetBlue Airways Corp / JetBlue Loyalty LP 9.88 09/20/2031 | 0.49% |
| % of Top Portfolio Holdings | 8.41% |
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 12/31/2025
| BBB | 1.14% |
| BB | 49.93% |
| B | 36.43% |
| CCC | 7.82% |
| Cash and Cash Equivalents | 4.68% |
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 12/31/2025
| 0 - 1 Years | 17.80% |
| 1 - 3 Years | 12.09% |
| 3 - 5 Years | 41.57% |
| 5 - 10 Years | 22.87% |
| 10 - 20 Years | 0.98% |
| 20 - 30 Years | 3.16% |
| 30+ Years | 1.53% |
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.
5.44 Years Weighted Average Life to Maturity
As of 12/31/2025
As of 12/31/2025
| 0 - 2.5% | 4.68% |
| 2.5 - 3% | 0.81% |
| 3 - 3.5% | 0.50% |
| 3.5 - 4% | 2.28% |
| 4 - 4.5% | 5.12% |
| 4.5 - 5% | 12.50% |
| 5 - 5.5% | 6.34% |
| 5.5 - 6% | 6.05% |
| 6 - 6.5% | 6.69% |
| 6.5 - 7% | 9.25% |
| 7 - 7.5% | 8.23% |
| 7.5 - 8% | 7.13% |
| 8 - 8.5% | 6.73% |
| 8.5 - 9% | 8.36% |
| 9 - 9.5% | 5.17% |
| 9.5 - 10% | 4.14% |
| 10+% | 6.03% |
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.
6.77% Average Coupon
As of 12/31/2025
| 0 - 2 Years | 33.02% |
| 2 - 4 Years | 49.70% |
| 4 - 6 Years | 15.40% |
| 6 - 8 Years | 0.67% |
| 8 - 10 Years | 0.65% |
| 10 - 15 Years | 0.56% |
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.
2.87 Years Average Effective Duration
Vice President, Senior Portfolio Manager
Head of Systematic Credit, Global Fixed Income
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.
The management fee has been restated to reflect the decrease in the management fee schedule effective June 24, 2025. Returns or yields for the fund would have been lower if a portion of the management fee had not been waived. Review the annual or semiannual report for the most current information.
The lower rated securities in which the fund invests are subject to greater credit risk, default risk and liquidity risk.
Credit risk is the risk that an obligation won't be paid and a loss will result. Generally, a lower credit rating indicates a greater risk of non-payment. Liquidity risk is the risk that the fund will have difficulty selling its debt securities.
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 ICE BofA U.S. High Yield Constrained Index is a market-capitalization weighted index that tracks the performance of U.S. Dollar denominated below investment grade rated corporate debt publicly issued in the U.S. domestic market. It is a variant of the broader ICE BofA U.S. High Yield Master II Index that applies a maximum issuer exposure of 2%. The index includes U.S. dollar denominated, below investment grade rated corporate bonds with more than 1 year of remaining maturity, a fixed coupon schedule, and a minimum outstanding amount of $100 million. The index is rebalanced monthly.
Source: ICE Data Indices
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