My Account

Overview

Designed to fight the effects of domestic inflation and reduce interest rate risk by investing primarily in short-term inflation-indexed bonds. Employs comprehensive risk management seeking to maximize real return per level of risk.

Key Facts
Investment Objective
Pursues long-term total return using a strategy that seeks to protect against U.S. inflation
Inception Date
05/07/2004
Morningstar Category
Inflation-Protected Bond
Benchmark
Bloomberg U.S. Treasury Inflation Protected Securities (TIPS) IndexA
Total Assets
$555,574,108
As of 02/29/2024
Total Holdings
168
As of 01/31/2024
Distribution Frequency
Quarterly
Morningstar Overall Rating
Based on risk-adjusted return
Out of 200 funds. Inflation-Protected Bond category
As of 01/31/2024
Fees
Gross Expense Ratio
0.52%
Trading Information
Ticker
APTIX
CUSIP
02507T308

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.

Performance

APTIX
Bloomberg U.S. Treasury Inflation Protected Securities (TIPS) IndexA

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.

VP Inflation Protection Fund

Bloomberg U.S. Treasury Inflation Protected Securities (TIPS) Index

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.

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
12/21/2023
$0.0747
$0.0747
$9.41
09/26/2023
$0.0894
$0.0894
$9.03
06/27/2023
$0.1294
$0.1294
$9.41
03/28/2023
$0.0483
$0.0483
$9.60

Historical Distribution (CSV)

Ratings and Risk

As of 01/31/2024
Overall
Out of 200 funds. Inflation-Protected Bond category
3 Year
Out of 200 funds
5 Year
Out of 193 funds
10 Year
Out of 135 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.

Portfolio

As of 01/31/2024
% 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 01/31/2024
Company
% Portfolio
FANNIE MAE GLOBAL
5.45%
US 2YR NOTE (CBT) Mar24
4.88%
US 5YR NOTE (CBT) Mar24
4.68%
US 10YR NOTE (CBT)Mar24
4.07%
United States Treasury Inflation Indexed Bonds 0.13 01/15/2032
3.52%
United States Treasury Inflation Indexed Bonds 1.38 07/15/2033
3.27%
United States Treasury Inflation Indexed Bonds 0.50 01/15/2028
3.24%
Barton Capital SA 0.00 02/22/2024
3.15%
United States Treasury Inflation Indexed Bonds 0.13 01/15/2031
3.08%
FREDDIE MAC GLOBAL
3.06%
% of Top Portfolio Holdings
38.4%
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 01/31/2024
U.S. Government
73.04%
AAA
5.59%
AA
5.43%
A
6.65%
BBB
1.86%
Non Rated
3.65%
Cash and Cash Equivalents
3.79%
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 01/31/2024
0 - 1 Years
8.11%
1 - 3 Years
17.34%
3 - 5 Years
19.87%
5 - 10 Years
39.05%
10 - 20 Years
5.37%
20 - 30 Years
10.25%
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 01/31/2024
0 - 2.5%
63.09%
2.5 - 3%
6.02%
3 - 3.5%
3.06%
3.5 - 4%
5.92%
4 - 4.5%
2.99%
4.5 - 5%
1.99%
5 - 5.5%
0.64%
5.5 - 6%
3.20%
6 - 6.5%
4.03%
6.5 - 7%
7.64%
7 - 7.5%
1.04%
7.5 - 8%
0.33%
8 - 8.5%
0.06%
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.
2.09% Average Coupon
As of 01/31/2024
0 - 2 Years
19.45%
2 - 4 Years
25.16%
4 - 6 Years
17.83%
6 - 8 Years
16.61%
8 - 10 Years
6.06%
15+ Years
14.89%
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.
7.01 Years Average Effective Duration

Team

Robert Gahagan avatar
Robert Gahagan

Senior Vice President

Senior Portfolio Manager

Firm Start

1983


Industry Start

1983

Jim Platz, CFA avatar
Jim Platz, CFA

Vice President

Portfolio Manager

Firm Start

2003


Industry Start

1986

Miguel Castillo avatar
Miguel Castillo

Vice President

Portfolio Manager

Firm Start

2008


Industry Start

2002

Resources

Fund Literature
Fact Sheet

American Century Investments Variable Portfolio Funds (VP Funds) are a series of investment choices available exclusively through variable annuity and variable universal life products. There are no plans to distribute VP Funds in any other way. Performance will vary based on the fees and expenses assessed with investments in variable insurance products. Those charges are disclosed in the separate account prospectus.

The VP Funds are managed by the same management team using the same objectives, approach, and philosophy as the retail fund. The VP portfolios are managed in a manner that under normal circumstances should produce similar performance. However, it is important to note that there are additional fees and charges assessed with investments in variable insurance products, those charges are disclosed in the separate account prospectus. The fees and charges will reduce returns when compared to that of the retail fund. There is no guarantee that the management team will achieve the same or similar performance in the future.

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.

Bloomberg U.S. Treasury Inflation Protected Securities (TIPS) Index

Consists of Treasury inflation-protected securities issued by the U.S. Treasury with a remaining maturity of one year or more.

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.

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.

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Source: Bloomberg Index Services Ltd