AMERICAN CENTURY EXPANDS SUITE OF INSIGHTS ETFS WITH MID CAP GROWTH ETF
American Century will rebrand MID as ACMG, cut its fee, and move the ETF’s listing to Cboe BZX in October 2026.
Rhea-AI Summary
American Century Mid Cap Growth Impact ETF (MID) will be renamed American Century Mid Cap Growth Insights ETF (ACMG), with its management fee reduced to 0.39% from 0.45%, effective October 12, 2026.
On that date, the fund will also move its listing from NYSE Arca to the Cboe BZX Exchange and will join the firm’s existing suite of Insights ETFs, which combine fundamental active research with systematic implementation. The fund is an actively managed, non-diversified ETF that may use environmental, social and governance (ESG) data in its investment process and employs a Proxy Portfolio structure, which can affect premiums/discounts, bid/ask spreads, tracking error and trading dynamics compared with traditional transparent ETFs.
Positive
- Management fee cut to 0.39% from 0.45% effective October 12, 2026
Negative
- None.
AI-generated analysis. How Rhea-AI works. Not financial advice.
American Century Mid Cap Growth Impact ETF to become American Century Mid Cap Growth Insights ETF, bringing the strategy into the firm's suite of Insights Exchange-Traded Funds (ETFs)
ACMG will add to the existing suite of American Century Insights ETFs, which combine insights from fundamental active research and systematic implementation to offer alpha potential with broader diversification, more transparent performance variations versus index benchmarks, and at lower expense ratios compared to many traditional fundamental active approaches.
"Our goal is to deliver solutions that fit within our clients' asset allocations to better pursue their investment objectives or the goals of the clients they serve," said Victor Zhang, chief investment officer at American Century Investments. "Adding ACMG to our lineup of Insights ETFs adds another important tool within a capability we've designed intentionally with feedback from our clients to provide investors cost-effective, tax-efficient, transparent opportunities for their equity allocations."
About American Century Investments
American Century Investments is a leading global asset manager focused on delivering investment results and building long-term client relationships while supporting breakthrough medical research. Founded in 1958, American Century Investments' approximately 1,400 employees serve financial professionals, institutions, corporations and individual investors from offices in Kansas City, Mo.; New York; Los Angeles; Santa Clara, Calif.; Portland, Ore.; London; Frankfurt, Germany; Hong Kong; and Sydney. Jonathan S. Thomas is chairman, chief executive officer and president, and Victor Zhang serves as senior vice president and chief investment officer. Delivering investment results to clients enables American Century Investments to distribute
Alpha is typically used to represent the value added or subtracted by active investment management strategies. It shows how an actively managed investment portfolio performed compared with the expected portfolio returns produced simply by benchmark volatility (beta) and market changes. A positive alpha shows that an investment manager has been able to capture more of the upside movement in the benchmark while softening the downswings. A negative alpha means that the manager's strategies have caught more benchmark downside than upside.
*Assets under supervision as of 09/15/26.
Exchange Traded Funds (ETF) are bought and sold through an exchange trading at market price (not NAV), and are not individually redeemed from the fund. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns.
You should consider the fund's investment objectives, risks, and charges and expenses carefully before you invest. The fund's prospectus or summary prospectus, which can be obtained at americancentury.com, contains this and other information about the fund, and should be read carefully before investing.
Investment return and principal value of security investments will fluctuate. The value at the time of redemption may be more or less than the original cost. Past performance is no guarantee of future results.
The fund is an actively managed ETF that does not seek to replicate the performance of a specified index.
MID is classified as non-diversified. Because it is non-diversified, it may hold large positions in a small number of securities. To the extent it maintains such positions; a price change in any one of those securities may have a greater impact on the fund's share price than if it were diversified.
The portfolio managers use a variety of analytical research tools and techniques to help them make decisions about buying or holding issuers that meet their investment criteria and selling issuers that do not. In addition to fundamental financial metrics, the portfolio managers may also consider environmental, social, and/or governance (ESG) data to evaluate an issuer's sustainability characteristics. However, the portfolio managers may not consider ESG data with respect to every investment decision and, even when such data is considered, they may conclude that other attributes of an investment outweigh sustainability-related considerations when making decisions. Sustainability-related characteristics may or may not impact the performance of an issuer or the strategy, and the strategy may perform differently if it did not consider ESG data. Issuers with strong sustainability-related characteristics may or may not outperform issuers with weak sustainability-related characteristics. ESG data used by the portfolio managers often lacks standardization, consistency, and transparency, and may not be available, complete, or accurate. Not all American Century investment strategies incorporate ESG data into the process.
Proxy Portfolio Risk: The goal of the Proxy Portfolio is to track closely the daily performance of the Actual Portfolio. The Proxy Portfolio is designed to reflect the economic exposures and the risk characteristics of the Actual Portfolio on any given trading day.
ETFs trading on the basis of a published Proxy Portfolio may exhibit wider premiums and discounts, bid/ask spreads, and tracking error than other ETFs using the same investment strategies that publish their portfolios on a daily basis, especially during periods of market disruption or volatility. Therefore, shares of the fund may cost investors more to trade than shares of a traditional ETF.
Each day the fund calculates the overlap between the holdings of the prior Business Day's Proxy Portfolio compared to the Actual Portfolio (Proxy Overlap) and the difference, in percentage terms, between the Proxy Portfolio per share NAV and that of the Actual Portfolio (Tracking Error).
Although the fund seeks to benefit from keeping its portfolio information secret, market participants may attempt to use the Proxy Portfolio to identify a fund's trading strategy, which if successful, could result in such market participants engaging in certain predatory trading practices that may have the potential to harm the fund and its shareholders.
Premium/Discount Risk: Although the Proxy Portfolio is intended to provide investors with enough information to allow for an effective arbitrage mechanism that will keep the market price of the fund at or close to the underlying net asset value (NAV) per share of the fund, there is a risk (which may increase during periods of market disruption or volatility) that market prices will vary significantly from the underlying NAV of the fund.
Trading Issues Risk: Trading halts may have a greater impact on this fund compared to other ETFs due to the fund's nontransparent structure.
Authorized Participant / Authorized Participant Representative Concentration Risk: Only an authorized participant may engage in creation or redemption transactions directly with the fund. The fund may have a limited number of institutions that act as authorized participants. The fact that the fund is offering a novel and unique structure may affect the number of entities willing to act as Authorized Participants. During times of market stress, Authorized Participants may be more likely to step away from this type of ETF than a traditional ETF.
Exchange Traded Funds (ETFs): Foreside Fund Services, LLC - Distributor, not affiliated with American Century Investment Services, Inc.
Copyright 2026 American Century Proprietary Holdings Inc. All rights reserved.
Contact
Nicole Glenna
nicole_glenna@americancentury.com
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SOURCE American Century Investments
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
When will the ETF’s name, ticker, fee and exchange changes take effect?
The American Century Mid Cap Growth Impact ETF is scheduled to adopt the new name American Century Mid Cap Growth Insights ETF, change its ticker from MID to ACMG, reduce its management fee to 0.39% from 0.45%, and move its listing from NYSE Arca to the Cboe BZX Exchange on October 12, 2026.
How does ACMG fit into American Century’s Insights ETF suite?
ACMG will join American Century’s existing Insights ETFs, which, in the company’s description, blend insights from fundamental active research with systematic implementation. The company states that this approach is intended to offer alpha potential with broader diversification, more transparent performance variation versus index benchmarks, and lower expense ratios compared with many traditional fundamental active approaches.
Is the fund actively managed and how diversified is it?
The fund is an actively managed ETF and does not seek to replicate the performance of a specified index. It is classified as non-diversified, meaning it may hold large positions in a small number of securities, so price changes in those securities can have a greater impact on the fund’s share price than would be the case for a more diversified fund.
How does the portfolio management process use ESG data?
The portfolio managers may consider environmental, social and governance (ESG) data, alongside fundamental financial metrics, to evaluate an issuer’s sustainability characteristics. However, they may not consider ESG data for every investment decision and, even when ESG data is reviewed, they may conclude that other attributes outweigh sustainability-related considerations. The company notes that ESG data can lack standardization, consistency and transparency and may be unavailable, incomplete or inaccurate.
What is the Proxy Portfolio structure and what risks does it create for ACMG?
The fund uses a Proxy Portfolio, which is designed to track closely the daily performance and risk characteristics of the fund’s Actual Portfolio while keeping holdings less transparent. This structure can lead to wider premiums and discounts, larger bid/ask spreads, and higher tracking error than ETFs that publish full portfolios daily, particularly during market disruption or volatility. The fund monitors Proxy Overlap and the percentage difference between the Proxy Portfolio per-share NAV and the Actual Portfolio NAV (Tracking Error). The company also warns that market participants might still infer the trading strategy and engage in predatory trading, potentially harming the fund and its shareholders.
What other trading and liquidity risks are highlighted for this ETF?
The risks described include premium/discount risk, where market prices may differ significantly from the fund’s NAV, especially in volatile markets. The fund’s nontransparent structure may make trading halts more impactful than for traditional ETFs. There is also Authorized Participant / Authorized Participant Representative concentration risk, because only authorized participants can create or redeem shares and the novel structure may limit the number of such institutions; during market stress, these participants may be more likely to step away than with traditional ETFs.
Where can investors find more information about the fund before investing?
Investors are directed to review the fund’s prospectus or summary prospectus, available at americancentury.com, which contains information on investment objectives, risks, charges and expenses. The company emphasizes that investment return and principal value will fluctuate, shares trade at market price (not NAV), brokerage commissions will reduce returns, and past performance is not a guarantee of future results.