American Century Large Cap Growth ETF

American Century Large Cap Growth ETF (ACGR) is an actively managed, nontransparent ETF holding about 90 large growth stocks, led by NVIDIA and Microsoft, chosen with a model that scores growth, value, momentum and sustainability. Nontransparent means it publishes a daily stand-in portfolio rather than its actual holdings. It charges 0.39% a year, compared with 0.07% for Vanguard Russell 1000 Growth ETF, and had just $10.5 million in assets as of August 31, 2026.

• Over the year to Oct 27, 2026, ACGR returned +3.7%, 4th of 9 among similar funds.
• Its worst full calendar year was 2025 (+14.5%); its best was 2025 (+14.5%).
• The deepest fall in its price history was 24.6% (Dec 16, 2024 to Apr 8, 2025), recovered by Jul 3, 2025.

As of Aug 31, 2026, the fund held 90 securities; the ten largest made up 36.37% of assets.

By sector

• Over the three months to Aug 31, 2026, investors withdrew a net $670K (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: -2.93%, -2.33%, +3.60%.

ACGR tracks no index. American Century's managers pick stocks with an in-house model that scores growth (earnings and cash-flow growth, changes in earnings estimates), value (price-to-earnings and price-to-cash-flow ratios) and price momentum. It adds environmental, social and governance (ESG) data, such as carbon emissions and board independence, though missing ESG data need not rule a stock out. Stocks are judged within their sector, and the fund aims to hold the strongest in each.

At least 80% of assets normally go into large companies, meaning those within the Russell 1000 Growth Index's size range (about $1.1 billion to $4.5 trillion as of September 30, 2025). Because it is nondiversified, the fund can hold big positions in a few stocks; NVIDIA was 14.4% of assets on August 31, 2026. Managers also weigh trading costs and taxes, and yearly turnover (the share of holdings replaced) was 32%.

ACGR is a nontransparent ETF: rather than posting its actual holdings daily, it publishes a proxy portfolio built to mirror their daily performance, with no minimum overlap required. That may let the share price stray further from net asset value (the per-share value of the holdings) than at a fully transparent ETF. If 10% or more of the actual holdings lack ready market prices, the fund will ask the exchange to halt trading.

• ACGR charges 0.39% a year, versus an average of 0.23% for the similar funds below (7th of 9, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $40 in the first year and $493 over 10 years (assuming a 5% annual return).

With about 14% of assets in NVIDIA as of August 31, 2026, a nondiversified structure and a 30.15% loss in 2022, it carries more risk than a broad core fund.

ACGR could add active growth-stock picking alongside broader funds, but it swings hard. Launched in June 2021, it missed the 2008 crisis and 2020 COVID crash. It lost 30.15% in 2022, a bear-market year and its worst on record, including 21.53% in the quarter ended June 30, 2022. From December 16, 2024 to April 8, 2025 it fell 24.6%, recovering about three months later, by July 3, 2025. Anyone drawing cash in a year like 2022 would cash out shares at a deep loss.

Income is minimal: the yield over the past 12 months was 0.1% as of October 27, 2026, paid twice a year. Costs run 0.39% a year, above the 0.23% average of similar funds; the SEC's standard example puts that at $493 over 10 years on $10,000. Past results don't predict future ones, and any plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.