At a glance
ACLC charges 0.39% a year, above the 0.11% average of the 8 funds most like it (the most expensive of 9). It has $325.8M in assets, the 9th largest of that group; it paid 0.56% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +9.8% with distributions reinvested (S&P 500: +11.5%), 6th of those 9 funds. Its ten largest positions make up 39.8% of the fund, out of 99 in all.
The short version
American Century Large Cap Equity ETF (ACLC) is an actively managed fund that held 99 large U.S. company stocks as of August 31, 2026, chosen by a model that blends value, growth, price momentum and ESG (environmental, social and governance) scores. It is a "nontransparent" ETF: each day it publishes a proxy portfolio instead of its actual holdings. Its 0.39% expense ratio is well above the 0.11% average for similar funds.
Price history
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ACLC +9.8% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| ACLC official prospectus, to Dec 31, 2024 | — | +20.02% | — | — | — | +14.95% |
| S&P 500® Index index, same period | — | +25.02% | — | — | — | +16.72% |
| ACLC price data to Oct 27, 2026 | +10.8% | +9.8% | — | — | — | +10.3% |
- Over the year to Oct 27, 2026, ACLC returned +9.8%, 6th of 9 among similar funds.
- Its worst full calendar year was 2025 (+11.8%); its best was 2025 (+11.8%).
- The deepest fall in its price history was 20.5% (Jan 23, 2025 to Apr 8, 2025), recovered by Jul 3, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +10.8% | — |
| 2025 | +11.8% | — |
| 2024 | — | +20.02% |
| 2023 | — | +24.72% |
| 2022 | — | -19.25% |
| 2021 | — | +28.92% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Not in the price data, which starts Dec 10, 2024 |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.3400 | |
| 2025 | $0.4900 |
What's inside
As of Aug 31, 2026, the fund held 99 securities; the ten largest made up 39.79% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA Corp | 8.64% | |
| Microsoft Corp | 7.27% | |
| Alphabet Inc | 5.69% | |
| Apple Inc | 5.16% | |
| Amazon.com Inc | 3.64% | |
| Broadcom Inc | 3.13% | |
| Mastercard Inc | 1.70% | |
| Bank of America Corp | 1.54% | |
| SLB Ltd | 1.53% | |
| Eli Lilly & Co | 1.50% | |
| Cisco Systems Inc/Delaware | 1.48% | |
| JPMorgan Chase & Co | 1.47% | |
| NextEra Energy Inc | 1.46% | |
| Regions Financial Corp | 1.26% | |
| Welltower Inc | 1.19% |
By country
United States 96.09%Ireland 2.17%Taiwan 0.91%Netherlands 0.44%By asset type
Stocks 99.62%By sector
Sectors of the companies held, for the 86.7% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Aug 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Aug 31, 2026, investors added a net $11.4M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -0.48%, +0.38%, +2.45%.
How it works
ACLC does not track an index. American Century's managers use their own multi-factor model to find large companies they believe show business improvement. The model measures value with price-to-earnings and price-to-cash-flow ratios. It measures growth with earnings and cash flow growth and changes in analysts' earnings estimates. It also weighs price momentum and sustainability data, such as carbon emissions, worker safety, digital privacy and board independence. Each stock is compared only with others in its own sector, and the fund aims to hold the strongest in each. The stated goal is better returns than the S&P 500 without much more risk, plus a stronger sustainability profile.
At least 80% of assets go into companies within the S&P 500's size range, which ran from about $6.6 billion to $4.5 trillion as of September 30, 2025. The managers decide when to trade, weighing price, risk, trading costs and taxes. Portfolio turnover was 29%, meaning roughly that share of the portfolio was replaced in a year.
The fund is nontransparent. It posts a daily "proxy portfolio" meant to track the real portfolio's performance, with no minimum overlap required. Because of this, the market price could drift further from the value of the holdings (NAV) than with a fully transparent ETF. If 10% or more of holdings lack market prices, the fund will ask the exchange to halt trading.
What it really costs
- ACLC charges 0.39% a year, versus an average of 0.11% for the similar funds below (9th 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).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| ACLC | $40 | $126 | $219 | $493 |
In a retirement portfolio
It holds a broad mix of about 100 large U.S. stocks and had a beta of 0.98 over the year to October 27, 2026, so it moved almost in step with the overall market.
ACLC launched on July 13, 2020, so it missed both the 2008 crisis and the 2020 COVID crash. In 2022 it lost 19.25%, its worst calendar year. Its worst quarter was a 16.78% drop in the three months ended June 30, 2022. The deepest decline in available price history was 20.5%, from January 23 to April 8, 2025. It regained its peak by July 3, 2025, about 2.8 months after the low. A retiree selling shares to cover spending in a slide like that would lock in losses.
Income is small. The trailing yield was 0.56% as of October 27, 2026, paid quarterly. Costs add up: in the SEC's $10,000 example, expenses total $493 over 10 years. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want an active, model-driven blend of value, growth and momentum across about 100 large U.S. stocks instead of a market-weighted index.
- People who want ESG data, such as carbon emissions and board independence, weighed alongside financial measures when stocks are chosen.
- Investors comfortable with market-like swings: beta was 0.98 and one-year volatility 13.1% as of October 27, 2026.
Look elsewhere if
- Cost-focused investors: the 0.39% expense ratio ranked 9th of 9 among similar funds, compared with 0.03% for VOO and 0.07% for MGC.
- Those who want to see every holding daily; ACLC publishes only a proxy portfolio, and its price may drift from the value of its holdings.
- Income seekers: the trailing yield was just 0.56% as of October 27, 2026, and the fund's objective is long-term capital growth.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| ACLC this fund | — | 0.39% | $325.8M | +9.8% | — |
| MGC Vanguard Mega Cap ETF | 59% | 0.07% | $10.90B | +13.5% | +26.0% |
| IWL iShares Russell Top 200 ETF | 58% | 0.15% | $2.19B | +12.5% | +25.5% |
| OEF iShares S&P 100 ETF | 55% | 0.2% | $20.04B | +8.3% | +23.3% |
| SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF | 53% | 0.2% | $2.74B | +12.6% | +24.8% |
| SPYM SPDR Portfolio S&P 500 ETF | 53% | 0.02% | $153.92B | +11.5% | +22.0% |
| VOO Vanguard S&P 500 ETF | 53% | 0.03% | $1.67T | +12.4% | +23.6% |
| XLG Invesco S&P 500® Top 50 ETF | 52% | 0.2% | $10.56B | +6.9% | +25.3% |
Questions investors ask
Is ACLC actively managed or an index fund?
ACLC is actively managed and does not try to match any index. American Century's managers use their own model to score large companies on value, growth, price momentum and sustainability, comparing each stock only with others in its sector. It is also a "nontransparent" ETF. Instead of posting its actual holdings each day, it publishes a proxy portfolio designed to track the real portfolio's performance. The prospectus requires no minimum overlap between the two.
What are ACLC's top holdings?
As of August 31, 2026, ACLC held 99 stocks. The largest were NVIDIA (8.6%), Microsoft (7.3%), Alphabet (5.7%), Apple (5.2%), Amazon (3.6%) and Broadcom (3.1%). The 10 largest positions made up 39.8% of assets. Among holdings with sector data, technology was the biggest sector at 37.6%, followed by financials at 11.7%. About 96% of the fund was in U.S. companies, with small stakes in Ireland, Taiwan and the Netherlands.
ACLC vs MGC: what's the difference?
The biggest differences are cost, management style and size. Vanguard Mega Cap ETF (MGC) shares about 59% of its holdings with ACLC, the most of any similar fund, but charges 0.07% a year versus ACLC's 0.39%. ACLC is actively managed and uses ESG data to choose stocks. Over the year to October 27, 2026, MGC returned 13.5% and ACLC 9.8%. MGC is also much larger, with about $10.9 billion in net assets as of August 31, 2026.
Does ACLC pay dividends?
Yes. ACLC pays dividends quarterly, but the amounts are small. Over the 12 months to October 27, 2026, it paid $0.48 per share, a trailing yield of 0.56%. The fund's stated objective is long-term capital growth, not income. Investors who need regular cash from their holdings may want to compare it with funds built for income.
Has ACLC beaten the S&P 500?
Not over the periods shown in its prospectus. As of December 31, 2024, ACLC returned 20.02% over one year, compared with 25.02% for the S&P 500. Since its July 2020 launch, it returned 14.95% a year, compared with 16.72% for the index. Based on market price, it returned 9.8% over the year to October 27, 2026, ranking 6th of 9 among similar funds.