At a glance
MUSI charges 0.37% a year, above the 0.09% average of the 7 funds most like it (the most expensive of 8). It has $190.0M in assets, the 8th largest of that group; it paid 5.4% of its price in distributions over the past 12 months, monthly. Over the past year it returned −0.3% with distributions reinvested, 3rd of those 8 funds; over three years it returned +6.9% a year. At its worst it fell 12.6% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 22 months after the low.
The short version
American Century Multisector Income ETF (MUSI) is a bond ETF from American Century Investments. As its name suggests, it draws income from several parts of the bond market. As of October 27, 2026, its trailing 12-month yield was 5.4%, paid monthly. Its 0.37% expense ratio is well above the 0.09% average of similar bond funds. With about $190 million in assets, it is also much smaller than those funds.
Price history
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MUSI -0.3% 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 | |
|---|---|---|---|---|---|---|
| MUSI price data to Oct 27, 2026 | -0.7% | -0.3% | +6.9% | +1.8% | — | +1.7% |
- Over the year to Oct 27, 2026, MUSI returned -0.3%, 3rd of 8 among similar funds.
- Its 5-year annualized return was +1.8%.
- Its worst full calendar year was 2022 (-10.3%); its best was 2025 (+8.4%).
- The deepest fall in its price history was 13.9% (Sep 15, 2021 to Oct 20, 2022), recovered by Aug 2, 2024.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -0.7% |
| 2025 | +8.4% |
| 2024 | +5.1% |
| 2023 | +7.5% |
| 2022 | -10.3% |
| 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 | Lost 12.5% over that stretch · deepest drop along the way 12.6%, back to its old high 21.7 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.6500 | |
| 2025 | $2.5500 | -1.5% |
| 2024 | $2.5900 | +14.1% |
| 2023 | $2.2700 | +32.7% |
| 2022 | $1.7100 |
How it works
MUSI is an ordinary bond ETF. It doesn't use leverage, it doesn't bet against the market, and it doesn't sell options for extra income. Its name says it looks for income across several sectors of the bond market, not just one type of bond. This page doesn't have the fund's prospectus description of how it picks bonds, how it weights them, or how often the portfolio changes. Before investing, it's worth reading American Century's prospectus and holdings reports for those details.
One basic rule applies to any bond fund. Bond prices move the opposite way to interest rates. When rates rise, the bonds a fund already owns become worth less, and the longer their maturities, the more their prices react. MUSI's share price can therefore fall in a year of rising rates, even while it keeps paying interest.
Like other ETFs, MUSI trades on an exchange all day at market prices. It passes the interest it collects to shareholders as monthly distributions. Those payments add up to $2.28 per share over the 12 months to October 27, 2026. The monthly amount can rise or fall with the income the portfolio earns.
What it really costs
- MUSI charges 0.37% a year, versus an average of 0.09% for the similar funds below (8th of 8, cheapest first).
Structure and tax notes
- Bond prices move opposite to interest rates; the longer the maturities it holds, the more its price reacts to rate changes.
In a retirement portfolio
MUSI's main feature is monthly bond income, with a trailing 12-month yield of 5.4% as of October 27, 2026.
MUSI could add a steady stream of monthly bond income. Its history is short, though. The fund launched in June 2021, so it didn't exist during the 2008 financial crisis or the 2020 COVID crash. In the 2022 bear market it fell 12.6%, and 2022 was its worst calendar year, at -10.3%. Its deepest drop was 13.9%, from September 2021 to October 2022. It took about 21 months to get back to its old high, in August 2024. Someone who had to sell shares during that stretch would have sold at a loss. Monthly payouts can also vary. Costs matter too: the 0.37% expense ratio compares with 0.03% for BND and AGG. 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 monthly bond income: the trailing 12-month yield was 5.4% as of October 27, 2026.
- People willing to pay 0.37% a year for a multisector income fund instead of a 0.03% total-bond-market fund.
- Investors who want bonds that moved little with stocks. Its one-year beta, a measure of how closely it tracks the stock market, was 0.15.
Look elsewhere if
- Cost-focused investors: MUSI ranked 8th of 8 similar funds on cost, and BND and AGG charge 0.03%.
- Anyone who wants a long track record: the fund launched in June 2021 and has never been through a crisis like 2008.
- Investors who couldn't wait out a long recovery: MUSI's 13.9% drop took about 21 months to recover, ending in August 2024.
Close alternatives
Matched by legacy category (no holdings report for this fund).
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| MUSI this fund | 0.37% | $190.0M | -0.3% | +6.9% |
| BND Vanguard Total Bond Market ETF | 0.03% | $355.20B | -0.4% | +4.7% |
| AGG iShares Core U.S. Aggregate Bond ETF | 0.03% | $125.20B | -0.4% | +4.7% |
| BNDX Vanguard Total International Bond ETF | 0.07% | $100.60B | -0.6% | +4.1% |
| BSV Vanguard Short-Term Bond ETF | 0.03% | $60.20B | +1.7% | +4.5% |
| BIV Vanguard Intermediate-Term Bond ETF | 0.03% | $44.00B | -0.7% | +5.1% |
| IUSB iShares Core Total USD Bond Market ETF | 0.06% | $33.00B | -0.3% | +5.1% |
| FBND Fidelity Total Bond ETF | 0.36% | $18.60B | -0.2% | +5.4% |
Questions investors ask
Does MUSI pay monthly dividends?
Yes. MUSI pays distributions every month. Over the 12 months to October 27, 2026, it paid $2.28 per share, for a trailing yield of 5.4%. These payments come mainly from interest on the bonds the fund holds. The amount can change from month to month, because the fund's income moves with what its bonds pay. A trailing yield shows what the fund paid in the past, not what it will pay next.
Is MUSI good for retirement income?
It depends on what the investor needs. MUSI's 5.4% trailing yield (as of October 27, 2026) and monthly payouts may suit people who want regular bond income. The fund does have drawbacks. Its expense ratio is 0.37%, against a 0.09% average for similar bond funds. It fell 13.9% from September 2021 to October 2022 and took about 21 months to recover. Its history only goes back to June 2021.
What's the difference between MUSI and BND?
The biggest differences are cost, size and focus. BND, Vanguard Total Bond Market ETF, charges 0.03% and has about $355.2 billion in assets. MUSI charges 0.37% and has about $190 million, and it aims for income from several bond sectors. Over three years, MUSI returned 6.9% a year as of October 27, 2026, while BND returned 5.4% as of October 30, 2026. The two funds were matched by broad category, not by holdings, so they aren't close substitutes.
What is MUSI's expense ratio?
MUSI's expense ratio is 0.37%. That is the share of your investment the fund takes each year to cover its costs. It ranks 8th of 8 among similar bond funds on cost. Those funds average 0.09%, and BND, AGG and BSV each charge 0.03%. Fidelity Total Bond ETF (FBND) is closest in price at 0.36%. Over many years, a higher fee takes a bigger bite out of a bond fund's return.
How much did MUSI lose in 2022?
MUSI lost 10.35% in calendar 2022, its worst year so far. During the 2022 bear market it fell 12.6% from its January 3 high to its low on October 10. It took until August 2024 to fully recover. The fund then gained 7.51% in 2023, 5.13% in 2024 and 8.36% in 2025. For 2026 it was down 0.73% year to date through October 27, 2026, which is a partial year, not a full one.