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Critical Facts You Need to Know About Preferred Stocks
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American Century Quality Convertible Securities ETF
Active ETF
QCON
Payout Change
Pending
Price as of:
$46.86
+0.43
+0.93%
primary theme
N/A
QCON (ETF)
American Century Quality Convertible Securities ETF
Payout Change
Pending
Price as of:
$46.86
+0.43
+0.93%
primary theme
N/A
QCON (ETF)
American Century Quality Convertible Securities ETF
Payout Change
Pending
Price as of:
$46.86
+0.43
+0.93%
primary theme
N/A
Name
As of 11/21/2024Price
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
American Century Quality Convertible Securities ETF
QCON | Active ETF
$46.86
$41.4 M
2.20%
$1.02
0.33%
Vitals
YTD Return
14.8%
1 yr return
21.4%
3 Yr Avg Return
0.9%
5 Yr Avg Return
N/A
Net Assets
$41.4 M
Holdings in Top 10
21.0%
52 WEEK LOW AND HIGH
$46.4
$39.89
$46.86
Expenses
OPERATING FEES
Expense Ratio 0.33%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 11/21/2024Price
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
American Century Quality Convertible Securities ETF
QCON | Active ETF
$46.86
$41.4 M
2.20%
$1.02
0.33%
QCON - Profile
Distributions
- YTD Total Return 14.8%
- 3 Yr Annualized Total Return 0.9%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 2.2%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameAmerican Century Quality Convertible Securities ETF
-
Fund Family NameAmerican Century Investments
-
Inception DateFeb 16, 2021
-
Shares OutstandingN/A
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRene Casis
Fund Description
Under normal market conditions, the portfolio managers will invest at least 80% of the fund’s net assets, plus any borrowings for investment purposes, in convertible securities. Convertible securities have characteristics similar to both bonds and common stocks and typically consist of debt securities and preferred stocks that may be converted into or exchanged for a prescribed amount of common stock or other equity security, of the same or a different issuer, within a particular time period, at a specified price.
The portfolio managers select securities using a quantitative and fundamental investment process. They first screen the investment universe for liquidity and then select individual securities utilizing a quantitative and fundamental investment process informed by fundamental and technical measures such as sales or earnings growth, profitability, leverage, balance sheet strength, price momentum relative to peers, and valuation and yield relative to other convertible securities. Portfolio holdings are weighted to achieve the optimal balance between risk and return by considering each portfolio security’s fundamental scores, benchmark weight, and equity sensitivity.
The fund is nondiversified. The fund may invest in high-yield securities (also referred to as “junk bonds”). The fund may engage in active and frequent trading of portfolio securities to achieve its principal investment strategies. This may cause higher transaction costs and may affect performance. It may also result in the realization and distribution of capital gains.
The fund is an actively managed exchange-traded fund (ETF) that does not seek to replicate the performance of a specified index. To determine whether to buy or sell a security, the portfolio managers consider, among other things, various fund requirements and standards, along with economic conditions, alternative investments, interest rates and various credit metrics.
QCON - Performance
Return Ranking - Trailing
| Period | QCON Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 14.8% | -25.4% | 7.7% | 97.65% |
| 1 Yr | 21.4% | -32.2% | -4.2% | 18.82% |
| 3 Yr | 0.9%* | -9.2% | 10.4% | N/A |
| 5 Yr | N/A* | -6.2% | 9.1% | N/A |
| 10 Yr | N/A* | -7.8% | 9.3% | N/A |
* Annualized
Return Ranking - Calendar
| Period | QCON Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 7.0% | -37.8% | -9.7% | N/A |
| 2022 | -20.1% | -10.0% | 16.4% | N/A |
| 2021 | N/A | 1.9% | 17.2% | N/A |
| 2020 | N/A | -2.1% | 5.6% | N/A |
| 2019 | N/A | -3.3% | 2.3% | N/A |
Total Return Ranking - Trailing
| Period | QCON Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 14.8% | -25.4% | 7.7% | 97.65% |
| 1 Yr | 21.4% | -32.2% | 33.8% | 19.77% |
| 3 Yr | 0.9%* | -9.2% | 14.5% | N/A |
| 5 Yr | N/A* | -6.2% | 13.7% | N/A |
| 10 Yr | N/A* | -7.8% | 9.3% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | QCON Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 9.5% | -37.8% | -9.7% | N/A |
| 2022 | -17.7% | -10.0% | 16.4% | N/A |
| 2021 | N/A | 1.9% | 17.2% | N/A |
| 2020 | N/A | -1.9% | 5.6% | N/A |
| 2019 | N/A | -3.3% | 2.9% | N/A |
QCON - Holdings
Concentration Analysis
| QCON | Category Low | Category High | QCON % Rank | |
|---|---|---|---|---|
| Net Assets | 41.4 M | 25.6 M | 4.09 B | 100.00% |
| Number of Holdings | 115 | 12 | 381 | 34.09% |
| Net Assets in Top 10 | 9.13 M | -991 K | 795 M | 97.73% |
| Weighting of Top 10 | 21.02% | 9.5% | 91.0% | 36.36% |
Top 10 Holdings
- Wells Fargo Co (conv) 7.5% 12/31/2049 Series L 2.99%
- Bank of America Corp (conv) 7.25% Series L 2.50%
- Palo Alto Networks Inc (conv) 0.38% 06/01/2025 2.41%
- Royal Caribbean Cruises Ltd (conv) 6.00% 08/15/2025 2.38%
- State Street Navigator Securities Lending Government Money Market Portfolio 2.20%
- NextEra Energy Inc (conv) 6.93% 09-01-2025 1.90%
- Dexcom Inc (conv) 0.25% 11/15/2025 1.75%
- Booking Holdings Inc (conv) 0.75% 05/01/2025 1.65%
- FirstEnergy Corp (conv) 4.00% 05/01/2026 1.62%
- Zillow Group Inc (conv) 2.75% 05/15/2025 1.62%
Asset Allocation
| Weighting | Return Low | Return High | QCON % Rank | |
|---|---|---|---|---|
| Bonds | 88.44% | -18.46% | 76.04% | 75.00% |
| Preferred Stocks | 10.19% | 0.00% | 22.93% | 15.91% |
| Cash | 3.15% | -81.48% | 7.92% | 35.23% |
| Stocks | 0.00% | 0.00% | 27.26% | 18.18% |
| Other | 0.00% | -17.11% | 1.13% | 9.09% |
| Convertible Bonds | 0.00% | 37.15% | 110.54% | 81.82% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | QCON % Rank | |
|---|---|---|---|---|
| Cash & Equivalents | 3.15% | 0.00% | 8.40% | 36.36% |
| Derivative | 0.00% | 0.00% | 0.00% | 56.82% |
| Securitized | 0.00% | 0.00% | 0.18% | 56.82% |
| Corporate | 0.00% | 91.11% | 100.00% | 64.77% |
| Municipal | 0.00% | 0.00% | 0.00% | 56.82% |
| Government | 0.00% | 0.00% | 2.94% | 60.23% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | QCON % Rank | |
|---|---|---|---|---|
| US | 88.44% | -25.25% | 76.04% | 73.86% |
| Non US | 0.00% | 0.00% | 6.79% | 65.91% |
QCON - Expenses
Operational Fees
| QCON Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.33% | 0.20% | 2.64% | 98.84% |
| Management Fee | 0.32% | 0.20% | 1.37% | 2.35% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.04% | 0.15% | N/A |
Sales Fees
| QCON Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| QCON Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 2.00% | 2.00% | 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.
| QCON Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 30.00% | 154.00% | 78.95% |
QCON - Distributions
Dividend Yield Analysis
| QCON | Category Low | Category High | QCON % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.20% | 0.00% | 5.90% | 6.82% |
Dividend Distribution Analysis
| QCON | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Quarterly | Quarterly | Quarterly |
Net Income Ratio Analysis
| QCON | Category Low | Category High | QCON % Rank | |
|---|---|---|---|---|
| Net Income Ratio | N/A | -3.72% | 3.73% | 5.88% |
Capital Gain Distribution Analysis
| QCON | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 01, 2024 | $0.085 | OrdinaryDividend |
| Oct 01, 2024 | $0.153 | OrdinaryDividend |
| Sep 03, 2024 | $0.063 | OrdinaryDividend |
| Aug 01, 2024 | $0.098 | OrdinaryDividend |
| Jul 01, 2024 | $0.146 | OrdinaryDividend |
| Jun 03, 2024 | $0.062 | OrdinaryDividend |
| May 01, 2024 | $0.092 | OrdinaryDividend |
| Apr 01, 2024 | $0.125 | OrdinaryDividend |
| Mar 01, 2024 | $0.059 | OrdinaryDividend |
| Feb 01, 2024 | $0.048 | OrdinaryDividend |
| Dec 18, 2023 | $0.145 | OrdinaryDividend |
| Dec 01, 2023 | $0.167 | OrdinaryDividend |
| Nov 01, 2023 | $0.070 | OrdinaryDividend |
| Oct 02, 2023 | $0.089 | OrdinaryDividend |
| Sep 01, 2023 | $0.096 | OrdinaryDividend |
| Aug 01, 2023 | $0.045 | OrdinaryDividend |
| Jul 03, 2023 | $0.094 | OrdinaryDividend |
| Jun 01, 2023 | $0.039 | OrdinaryDividend |
| May 01, 2023 | $0.062 | OrdinaryDividend |
| Apr 03, 2023 | $0.043 | OrdinaryDividend |
| Mar 01, 2023 | $0.040 | OrdinaryDividend |
| Feb 01, 2023 | $0.042 | OrdinaryDividend |
| Dec 15, 2022 | $0.400 | OrdinaryDividend |
| Dec 01, 2022 | $0.102 | OrdinaryDividend |
| Nov 01, 2022 | $0.051 | OrdinaryDividend |
| Oct 03, 2022 | $0.120 | OrdinaryDividend |
| Sep 01, 2022 | $0.079 | OrdinaryDividend |
| Aug 01, 2022 | $0.091 | OrdinaryDividend |
| Jul 01, 2022 | $0.064 | OrdinaryDividend |
| Jun 01, 2022 | $0.084 | OrdinaryDividend |
| May 02, 2022 | $0.055 | OrdinaryDividend |
| Apr 01, 2022 | $0.062 | OrdinaryDividend |
| Mar 01, 2022 | $0.084 | OrdinaryDividend |
| Feb 01, 2022 | $0.008 | OrdinaryDividend |
| Dec 16, 2021 | $0.142 | OrdinaryDividend |
| Dec 01, 2021 | $0.079 | OrdinaryDividend |
| Nov 01, 2021 | $0.086 | OrdinaryDividend |
| Oct 01, 2021 | $0.096 | OrdinaryDividend |
| Sep 01, 2021 | $0.065 | OrdinaryDividend |
| Aug 02, 2021 | $0.047 | OrdinaryDividend |
| Jul 01, 2021 | $0.057 | OrdinaryDividend |
| Jun 01, 2021 | $0.063 | OrdinaryDividend |
| May 03, 2021 | $0.042 | OrdinaryDividend |
| Apr 01, 2021 | $0.042 | OrdinaryDividend |
QCON - Fund Manager Analysis
Managers
Rene Casis
Start Date
Tenure
Tenure Rank
Feb 16, 2021
1.28
1.3%
Executive Chairman (since July 2016), Co-Chief Investment Officer (since June 2012),Mr. Casis, Portfolio Manager, has been a member of the team that manages the fund since joining American Century in 2018. Prior to joining American Century, he was a Partner at 55 Institutional, LLC from 2016 to 2017. From 2009 to 2016, he served in roles as US iShares Smart Beta Investment Strategist, US iShares Product Strategist and Senior Portfolio Manager in Beta Strategies for BlackRock Inc. He has a bachelor’s degree in economics from the University of California, Santa Barbara.
Hitesh Patel
Start Date
Tenure
Tenure Rank
Feb 16, 2021
1.28
1.3%
Mr. Patel, Vice President and Portfolio Manager, has managed the fund since 2018. He joined American Century Investments in 2018. From 2014 to 2018, Mr. Patel served as a Senior Alternatives Specialist within the Fund Derivatives Structuring and Financing team at UBS Securities. From 2010 to 2013, he was the Director and Head of Americas Origination and Content for the UBS Liquid Alpha Managed Account and UCITS Platform. He received a bachelor’s degree in economics from Yale University. He is a CFA charterholder. The advisor has, in turn, hired PWP to make recommendations regarding underlying subadvisor selection as well as day-to-day investment management and asset allocation. PWP performs this function under the supervision of the advisor and the general oversight of the fund’s Board of Directors. The portfolio managers who are jointly and primarily responsible for the day-to-day management of the fund are identified below. Responsibility for research, security selection and portfolio construction for portions of the fund may be allocated among the underlying subadvisors. Overall responsibility for coordinating the fund’s activities, including recommending appropriate asset allocations, reviewing overall fund composition and monitoring cash flows, is shared by the following portfolio managers.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.25 | 36.97 | 10.09 | 7.42 |
