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Looking for a mutual fund bond fund? Start with the American Century Inflation Adjustment Bond Fund (ironx – free report). AIANX has a Zacks Mutual Fund Rank of 3 (Hold), which is based on a variety of predictive factors including size, cost, and past performance.
History of fund managers
American Century, based in Kansas City, Missouri, is the manager of AIIANX. American Century Inflation Adjustable Bond Institutional made his debut in January 2003, and since then, AIIANX has amassed approximately $178.34 million in assets, according to the latest available date. A team of investment professionals is the current manager of the Fund.
performance
Clearly, what investors are looking for from these funds is superior performance relative to other funds. The fund has delivered an annualized total return of 3.4% over his five-year period, placing it in the top third of funds in its category. But if you’re looking for a shorter time horizon, it’s also worth noting that the three-year annualized total return is -0.08%. This puts it in the middle third for this period.
It is important to note that product returns do not reflect all costs. Unreflected fees reduce your revenue.Total return does not reflect the return of the fund [%] Sales commission. Total revenue would have been even lower if sales commissions had been included.
When looking at a fund’s performance, it’s also important to look at the standard deviation of returns. The lower the standard deviation, the lower the fund’s volatility. The standard deviation of AIANX over the past three years is 7.7%, compared to the category average of 13.78%. The fund’s standard deviation over the past five years is 6.67%, compared to the category average of 14.29%. This has resulted in the fund’s lower volatility relative to its peers over the past five years.
The fund has a beta of 0.58, meaning it is less volatile than the broad market index of bonds. Considering this, AIIANX has a positive alpha of 2.62, which measures its risk-adjusted performance.
expenses
As competition in the mutual fund market increases, costs become more important. All else being equal, a lower-cost product will perform better when compared to otherwise identical products. Therefore, a closer look at cost-related metrics is extremely important for investors. In terms of fees, AIIANX is a no-load fund. The expense ratio is 0.31% and the category average is 0.92%. If you look at the fund from a cost perspective, AIANX is actually cheaper than its peers.
Investors should note that the minimum initial investment for this product is $0. There is no minimum amount for subsequent investments.
Fees charged by investment advisors are not taken into account. If they are included, there will be fewer returns.
conclusion
Overall, American Century Inflation Adjustable Bond Agency (AIIANX) has a Neutral Zacks Mutual Fund Rank, coupled with relatively strong performance, improved downside risk, and low fees, American Century Inflation Adjustable Bond Agency (AIIANX) appears to be somewhat average. It’s an option for investors right now.
This may be just the beginning of our investigation into AIANX in the mutual fund fixed income category. Visit www.zacks.com/funds/mutual-funds for additional information about this fund and all other similarly ranked funds. And don’t forget, Zacks has you covered on the stocks side too. Be sure to check out Zacks.com to learn more about our screening features, ranks, and all articles.
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