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Trending ETFs

Name

As of 06/17/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

ZERO COUPON 2025 FUND

BTTRX | Fund

$109.15

$153 M

3.95%

$4.32

0.55%

Vitals

YTD Return

1.2%

1 yr return

3.4%

3 Yr Avg Return

-0.5%

5 Yr Avg Return

2.9%

Net Assets

$153 M

Holdings in Top 10

98.5%

52 WEEK LOW AND HIGH

$109.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.55%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 13.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/17/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

ZERO COUPON 2025 FUND

BTTRX | Fund

$109.15

$153 M

3.95%

$4.32

0.55%

BTTRX - Profile

Distributions

  • YTD Total Return 1.2%
  • 3 Yr Annualized Total Return -0.5%
  • 5 Yr Annualized Total Return 2.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.96%
DIVIDENDS
  • Dividend Yield 4.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    ZERO COUPON 2025 FUND
  • Fund Family Name
    American Century Investments
  • Inception Date
    Jun 25, 1996
  • Shares Outstanding
    1300440
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Robert Gahagan

Fund Description

Under normal circumstances, the fund will invest at least 80% of the value of its net assets in zero-coupon securities. Typically, other than during the fund’s target maturity year, the fund intends to exceed this 80% requirement and be fully invested in zero-coupon securities.
The fund invests primarily in zero-coupon U.S. Treasury securities and their equivalents (including certain zero-coupon U.S. government agency securities), and may invest up to 20% of its assets in other zero-coupon U.S. government agency securities that are AAA-rated. Zero-coupon securities make no periodic interest or principal payments. Instead, they trade at a deep discount to their face value and all of the interest and principal is paid when the securities mature.
The fund is managed to mature in the year 2025 and will be liquidated near the end of its target maturity year. If shares of the fund are held until the fund is liquidated and all distributions are reinvested, the fund’s performance should be similar to an investment in a zero-coupon U.S. Treasury security with the same term to maturity as the fund. The advisor expects that shareholders who hold their shares until the fund is liquidated and reinvest all distributions will realize an investment return and maturity value that do not differ significantly from the anticipated growth rate (AGR) and anticipated value at maturity (AVM) calculated on the day the shares were purchased.
The fund’santicipated growth rateis an estimate of the annualized rate of growth of the fund that an investor may expect from the purchase date to the fund’s weighted average maturity date.
Theanticipated value at maturityis an estimate of the fund’s net asset value as of the fund’s weighted average maturity date. It is based on the maturity values of the zero-coupon securities held by the fund.
As of the fund’s most recent fiscal year end, September 30, 2023, the fund’s Investor Class AGR was 4.64% and its AVM was $116.09. The AGR and AVM for the Advisor Class will differ from that of the Investor Class, depending on the expenses of that class.
When determining whether to buy or sell a security, the portfolio managers consider, among other things, the fund’s average maturity, current and anticipated changes in interest rates, current valuation relative to alternatives in the market, general market conditions and any other factors deemed relevant by the portfolio managers.
Securities issued or guaranteed by the U.S. Treasury and certain U.S. government agencies or instrumentalities are supported by the full faith and credit of the U.S. government. Zero-coupon U.S. government agency securities that are ultimately backed by securities or payment obligations of the U.S. Treasury and are considered by the market to be of comparable credit quality, such as Resolution Funding Corporation (REFCORP) bonds, are considered to be zero-coupon U.S. Treasury equivalents by the fund’s managers. Securities issued or guaranteed by other U.S. government agencies or instrumentalities, such as the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the Federal Home Loan Bank, are not guaranteed by the U.S. Treasury or supported by the full faith and credit of the U.S. government. However, these agencies or instrumentalities are authorized to borrow from the U.S. Treasury to meet their obligations.
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BTTRX - Performance

Return Ranking - Trailing

Period BTTRX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.2% -3.9% 13.8% 1.33%
1 Yr 3.4% -4.4% 27.6% 5.75%
3 Yr -0.5%* -7.7% 11.3% 1.33%
5 Yr 2.9%* -5.6% 3.0% 0.47%
10 Yr 3.4%* -2.1% 3.4% 0.60%

* Annualized

Return Ranking - Calendar

Period BTTRX Return Category Return Low Category Return High Rank in Category (%)
2023 -0.7% -1.0% 22.1% 94.25%
2022 -10.8% -20.4% -5.8% 4.89%
2021 -2.6% -7.1% 16.6% 30.45%
2020 8.8% -1.3% 8.8% 0.47%
2019 7.1% 0.3% 7.1% 0.47%

Total Return Ranking - Trailing

Period BTTRX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.2% -3.9% 13.8% 1.33%
1 Yr 3.4% -4.4% 27.6% 5.75%
3 Yr -0.5%* -7.7% 11.3% 1.33%
5 Yr 2.9%* -5.6% 3.0% 0.47%
10 Yr 3.4%* -2.1% 3.4% 0.60%

* Annualized

Total Return Ranking - Calendar

Period BTTRX Return Category Return Low Category Return High Rank in Category (%)
2023 3.3% -0.5% 28.8% 85.84%
2022 -7.7% -18.5% -3.3% 1.33%
2021 0.5% -4.5% 25.3% 16.36%
2020 13.0% -1.3% 13.0% 0.47%
2019 11.3% 1.8% 11.3% 0.47%

NAV & Total Return History


BTTRX - Holdings

Concentration Analysis

BTTRX Category Low Category High BTTRX % Rank
Net Assets 153 M 9.43 M 134 B 84.96%
Number of Holdings 17 17 12663 100.00%
Net Assets in Top 10 150 M 5.3 M 53 B 64.60%
Weighting of Top 10 98.48% 4.6% 98.5% 0.88%

Top 10 Holdings

  1. United States Treasury Strip Coupon 0.00 11/15/2025 50.70%
  2. Resolution Funding Corp Interest Strip 0.00 04/15/2026 11.37%
  3. Resolution Funding Corp Interest Strip 0.00 04/15/2025 11.24%
  4. Resolution Funding Corp Interest Strip 0.00 01/15/2026 10.12%
  5. Resolution Funding Corp Interest Strip 0.00 01/15/2025 5.32%
  6. Tennessee Valley Authority Principal Strip 0.00 11/01/2025 3.64%
  7. United States Treasury Strip Coupon 0.00 11/15/2026 2.86%
  8. United States Treasury Strip Coupon 0.00 08/15/2025 1.72%
  9. United States Treasury Strip Coupon 0.00 02/15/2026 0.84%
  10. United States Treasury Strip Principal 0.00 11/15/2025 0.67%

Asset Allocation

Weighting Return Low Return High BTTRX % Rank
Bonds
99.60% 0.07% 159.23% 53.98%
Cash
0.45% -20.28% 26.05% 79.65%
Stocks
0.00% 0.00% 96.18% 96.90%
Preferred Stocks
0.00% 0.00% 0.11% 96.90%
Other
0.00% -23.81% 17.63% 85.40%
Convertible Bonds
0.00% 0.00% 3.29% 96.90%

Bond Sector Breakdown

Weighting Return Low Return High BTTRX % Rank
Government
99.16% 0.00% 100.00% 7.52%
Cash & Equivalents
0.45% 0.00% 26.05% 70.35%
Derivative
0.00% -19.23% 1.69% 74.78%
Securitized
0.00% 0.00% 99.79% 99.56%
Corporate
0.00% 0.00% 9.48% 98.23%
Municipal
0.00% 0.00% 5.24% 97.79%

Bond Geographic Breakdown

Weighting Return Low Return High BTTRX % Rank
US
99.60% 0.07% 159.23% 53.98%
Non US
0.00% 0.00% 2.20% 96.90%

BTTRX - Expenses

Operational Fees

BTTRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.55% 0.03% 3.55% 65.33%
Management Fee 0.54% 0.00% 0.85% 97.35%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

BTTRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 4.50% N/A
Deferred Load N/A 1.00% 4.50% N/A

Trading Fees

BTTRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

BTTRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 13.00% 3.35% 948.00% 8.45%

BTTRX - Distributions

Dividend Yield Analysis

BTTRX Category Low Category High BTTRX % Rank
Dividend Yield 3.95% 0.00% 4.94% 21.24%

Dividend Distribution Analysis

BTTRX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Monthly Monthly

Net Income Ratio Analysis

BTTRX Category Low Category High BTTRX % Rank
Net Income Ratio 2.96% -0.80% 2.96% 0.44%

Capital Gain Distribution Analysis

BTTRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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BTTRX - Fund Manager Analysis

Managers

Robert Gahagan


Start Date

Tenure

Tenure Rank

Aug 01, 2006

15.84

15.8%

Mr. Gahagan, Senior Vice President and Senior Portfolio Manager, joined American Century Investments in 1983.  He became a portfolio manager in 1991. He has a bachelor’s degree in economics and an MBA from the University of Missouri – Kansas City.

James Platz


Start Date

Tenure

Tenure Rank

Nov 17, 2008

13.54

13.5%

Platz is vice president and a senior portfolio manager with American Century, his employer since October 2003. Prior to joining American Century, Platz was a vice president, senior portfolio manager for Standish Mellon Asset Management, formerly Certus Asset Advisors, since August 1995. He received a bachelor’s degree in history and political economies of industrial societies from the University of California – Berkeley, and an MBA from the University of Southern California. He is a CFA charterholder.

Miguel Castillo


Start Date

Tenure

Tenure Rank

Dec 31, 2008

13.42

13.4%

Miguel Castillo, Portfolio Manager, has served on teams managing fixed-income investments since joining the American Century Investments in 2008 as a senior fixed income trader. He was promoted to portfolio manager in 2014. He has a bachelor’s degree in banking and finance from Escuela Bancaria Y Comercial, Mexico City, and an MBA from the University of Minnesota.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.11 31.64 8.38 7.35