Diversified Bond Fund
American Century Investment Trust · 9 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Diversified Bond Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Investment grade
- Rate sensitivity
- Intermediate duration
Fund profile
As filed in the prospectus · 2025 Q3
The fund seeks a high level of income by investing in non-money market debt securities.
The fund invests at least 80% of its net assets in investment-grade and medium-grade debt securities, including corporate bonds, government securities, mortgage-backed securities, and bank loans, with a weighted average maturity of at least three and one-half years. Portfolio managers use macroeconomic analysis, technical sector valuation, and fundamental credit research to select individual securities and adjust allocations as market conditions evolve. The fund may engage in active and frequent trading, which may increase transaction costs and capital gain distributions.
| Share class | Gross | Net |
|---|---|---|
| ADFIX | 0.60% | 0.60% |
| ADFAX | 0.85% | 0.85% |
| ACBPX | 0.40% | 0.40% |
| CDBCX | 1.60% | 1.60% |
| ADVRX | 1.10% | 1.10% |
| ADDVX | 0.35% | 0.35% |
| ADVYX | 0.37% | 0.37% |
| ADRVX | 0.40% | 0.40% |
| ACDOX | 0.35% | 0.01% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 154.00% · as of 2025 Q3
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 49.25% |
| Securitized | 46.88% |
| Stocks | 4.38% |
| Cash & short-term | 2.12% |
| 2 smaller | 0.51% |
Derivatives are shown at market value, not notional exposure.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Securitized | 45.4% |
| Government | 24.7% |
| Other | 7.8% |
| International | 5.7% |
| 11 smaller | 16.4% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: Fannie Mae Pool, Federal National Mortgage Association, U.S. TREASURY ×4, Fastnet Funding Co LLC, Portsea Funding LLC
Largest exited: Regatta Funding Co LLC, State Street Bank & Trust Co, Federal National Mortgage Association, GOVERNMENT NATIONAL MORTGAGE ASSOCIATION ×3, Fannie Mae Pool, U.S. TREASURY
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +4.33% | +10.06% | -0.26% | 3.49% | -6.94% | |
| +4.07% | +9.24% | -1.50% | 3.57% | -7.06% | |
| +4.43% | +10.72% | +0.74% | 3.39% | -6.85% | |
| +3.19% | +6.81% | -5.14% | 3.45% | -7.42% | |
| +3.81% | +8.42% | -2.63% | 3.50% | -7.18% | |
| +4.59% | +10.88% | +1.10% | 3.53% | -6.82% | |
| +4.46% | +10.81% | +0.89% | 3.51% | -6.84% | |
| +4.44% | +10.72% | +0.72% | 3.51% | -6.85% | |
| +4.83% | +12.01% | — | 3.51% | -6.56% |
These classes hold the same portfolio, so the 5.20pp spread over 3 years is the cost difference between them — roughly 1.73pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 75.2% |
| Floating rate | 24.6% |
| Zero-coupon or unclassified | 0.3% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 0.2% |
| 1-3y | 7.9% |
| 3-5y | 13.9% |
| 5-10y | 19.3% |
| 10y+ | 58.8% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying about half as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 62% |
| Credit spreads | 38% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +3.40 yr |
| High yield | +0.15 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.21 yr | 4% |
| 5 yr | 0.98 yr | 17% |
| 10 yr | 1.61 yr | 27% |
| 30 yr | 3.06 yr | 52% |
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.09 yr | 2% |
| 5 yr | 0.36 yr | 10% |
| 10 yr | 1.03 yr | 29% |
| 30 yr | 2.07 yr | 58% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.00 | +0.00 | +0.01 | $458 | $4.7k |
| 1 yr | +0.21 | +0.07 | +0.02 | $26.1k | $9.1k |
| 5 yr | +0.98 | +0.34 | +0.02 | $135.5k | $7.1k |
| 10 yr | +1.61 | +0.99 | +0.04 | $394.3k | $15.9k |
| 30 yr | +3.06 | +2.01 | +0.06 | $802.5k | $23.3k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | U.S. TREASURY4.38% · due 2030-11-30 | 2.42% | $96.66M | — |
| — | U.S. TREASURY3.50% · due 2031-02-28 | 2.21% | $88.34M | — |
| — | Fannie Mae Pool5.50% · due 2055-12-01 | 2.19% | $87.38M | — |
| — | Federal National Mortgage Association5.00% · due 2055-12-25 | 2.00% | $79.80M | — |
| — | U.S. TREASURY4.13% · due 2031-05-31 | 1.97% | $78.74M | — |
| — | U.S. TREASURY4.13% · due 2029-06-15 | 1.53% | $61.15M | — |
| — | U.S. TREASURY3.75% · due 2032-11-30 | 1.41% | $56.27M | — |
| — | U.S. TREASURY3.50% · due 2030-11-30 | 1.38% | $54.92M | — |
| — | U.S. TREASURY4.25% · due 2033-05-31 | 1.27% | $50.82M | — |
| — | U.S. TREASURY3.50% · due 2029-03-15 | 1.18% | $47.20M | — |
Top 10 positions are 17.57% of net assets, top 25 29.22%, across 300 issuers.
See more of this fund's book
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