YTD Total Return As of 01/27/2026 | 0.29% |
Nav As of 01/27/2026 | $10.41 |
Nav Change ($0.01) | 0.10% |
Designed to help preserve purchasing power by investing primarily in a portfolio of short-duration Treasury Inflation-Protected Securities (TIPS)*.
Opportunistic, Risk-Aware Approach
Our investment professionals consider macro-economic conditions when conducting in-depth credit research on potential investments. They’re empowered to uncover relative-value opportunities. The focus on short-duration securities helps manage interest-rate risk.
Diversified Holdings to Help Enhance Return Potential
In addition to investing in short-duration TIPS, our team can also include corporate and securitized sector bonds in the portfolio. This flexibility supports the team’s goal to deliver enhanced returns beyond indexed offerings.
Deep Experience Understanding TIPS
As one of the first firms to offer a TIPS fund, we have more than a quarter century of experience managing these investments. Our tenured team has coped with a range of inflationary environments, strengthening their ability to navigate what may be ahead.
Stay Ahead of Inflation
Market insights, behavioral tips and portfolio builders to help bring stress levels down when prices rise.
Key Facts
Investment Objective | Pursues total return using a strategy that seeks to protect against U.S. inflation |
Inception Date | 05/31/2005 |
Morningstar Category | Short-Term Inflation-Protected Bond |
Benchmark | Bloomberg U.S. 1-5 Year Treasury Inflation Protected Securities (TIPS) IndexA |
Total Assets | $1,456,910,971 As of 12/31/2025 |
Total Holdings | 132 As of 11/30/2025 |
Distribution Frequency | Quarterly |
Morningstar Overall Rating Based on risk-adjusted return | Out of 63 funds. Short-Term Inflation-Protected Bond category As of 12/31/2025 |
Fees
| Gross Expense Ratio | 0.61% |
Trading Information
| Ticker | APOIX |
| CUSIP | 024932774 |
Morningstar ratings vary among share classes and are based on historical risk-adjusted total returns.
The fund generally expects to declare distributions from net income, if any, quarterly, but may pay less frequently.
Fees
| Gross Expense Ratio | 0.61% |
Trading Information
| Ticker | APOIX |
| CUSIP | 024932774 |
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.
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 | |
|---|---|---|---|
| 12/16/2025 | $0.2967 | $0.2967 | $10.37 |
| 09/23/2025 | -- | -- | $10.68 |
| 06/24/2025 | $0.1174 | $0.1174 | $10.47 |
| 03/25/2025 | -- | -- | $10.46 |
| Overall | Out of 63 funds. Short-Term Inflation-Protected Bond category |
| 3 Year | Out of 63 funds |
| 5 Year | Out of 62 funds |
| 10 Year | Out of 49 funds |
Morningstar ratings vary among share classes and are based on historical risk-adjusted total returns.
| Risk Measures | |
|---|---|
| Alpha | -0.56 |
| Beta | 1.03 |
| R-Squared | 0.98 |
| Standard Deviation | 2.53 |
| Sharpe Ratio | -0.10 |
Relative to the Bloomberg U.S. 1-5 Year Treasury Inflation Protected Securities (TIPS) Index
Past performance is no guarantee of future results. Investment returns will fluctuate and it is possible to lose money.
As of 12/31/2025
| Government | 83% |
| Credit | 8% |
| Securitized | 6% |
| Non-$ Denominated Government | 2% |
| Cash & Cash Equivalents | 1% |
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
| United States Treasury Inflation Indexed Bonds 0.13 04/15/2027 | 15.28% |
| United States Treasury Inflation Indexed Bonds 2.13 04/15/2029 | 8.52% |
| United States Treasury Inflation Indexed Bonds 0.13 07/15/2030 | 8.48% |
| United States Treasury Inflation Indexed Bonds 0.25 07/15/2029 | 7.12% |
| United States Treasury Inflation Indexed Bonds 1.13 04/15/2028 | 6.90% |
| US 5YR NOTE (CBT) Mar26 | 6.26% |
| United States Treasury Inflation Indexed Bonds 0.38 01/15/2027 | 4.39% |
| United States Treasury Inflation Indexed Bonds 0.75 07/15/2028 | 3.83% |
| United States Treasury Inflation Indexed Bonds 2.38 10/15/2028 | 3.52% |
| United States Treasury Inflation Indexed Bonds 1.50 04/15/2030 | 2.96% |
| % of Top Portfolio Holdings | 67.26% |
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
| U.S. Government | 82.62% |
| AAA | 5.01% |
| AA | 2.07% |
| A | 2.24% |
| BBB | 2.36% |
| BB | 1.39% |
| Non Rated | 3.15% |
| Cash and Cash Equivalents | 1.15% |
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 | 5.02% |
| 1 - 3 Years | 50.40% |
| 3 - 5 Years | 39.56% |
| 5 - 10 Years | 3.81% |
| 10 - 20 Years | 0.01% |
| 30+ Years | 1.20% |
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.
3.69 Years Weighted Average Life to Maturity
As of 12/31/2025
As of 12/31/2025
| 0 - 2.5% | 79.19% |
| 2.5 - 3% | 2.17% |
| 3 - 3.5% | 1.06% |
| 3.5 - 4% | 4.18% |
| 4 - 4.5% | 2.54% |
| 4.5 - 5% | 0.27% |
| 5 - 5.5% | 0.75% |
| 5.5 - 6% | 3.10% |
| 6 - 6.5% | 5.47% |
| 6.5 - 7% | 0.70% |
| 8 - 8.5% | 0.13% |
| 8.5 - 9% | 0.16% |
| 9 - 9.5% | 0.27% |
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.
1.67% Average Coupon
As of 12/31/2025
| 0 - 2 Years | 36.43% |
| 2 - 4 Years | 48.57% |
| 4 - 6 Years | 15.00% |
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.
2.78 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.
Investments in fixed income securities are subject to the risks associated with debt securities including credit, price and interest rate risk.
In certain interest rate environments, such as when real interest rates are rising faster than nominal interest rates, inflation-protected securities with similar durations may experience greater losses than other fixed income securities. Interest payments on inflation-protected debt securities will fluctuate as the principal and/or interest is adjusted for inflation and can be unpredictable.
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.
Consists of inflation-protected securities issued by the U.S. Treasury with maturities between one and five years.
TIPS are a special type of U.S. Treasury security designed to address a fundamental, long-standing fixed-income market issue: that the fixed interest payments and principal values at maturity of most fixed-income securities don't adjust for inflation. TIPS interest payments and principal values do. The adjustments include upward or downward changes to both principal and coupon interest based on inflation. TIPS are inflation-indexed; that is, tied to the U.S. government's Consumer Price Index (CPI). At maturity, TIPS are guaranteed by the U.S. government to return at least their initial $1,000 principal value, or that principal value adjusted for inflation, whichever amount is greater. In addition, as their principal values are adjusted for inflation, their interest payments also adjust.
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Source: Bloomberg Index Services Ltd