# EDGAR Filing Document

**Accession Number:** 0001710607
**File Stem:** 0001710607-26-000095
**Filing Date:** 2026-5
**Character Count:** 20079
**Document Hash:** dd1d82290e3310ace4256426bff1937c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001710607-26-000095.hdr.sgml**: 20260520

**ACCESSION NUMBER**: 0001710607-26-000095

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260520

**DATE AS OF CHANGE**: 20260520

**EFFECTIVENESS DATE**: 20260520

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERICAN CENTURY ETF TRUST
- **CENTRAL INDEX KEY:** 0001710607

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-221045
- **FILM NUMBER:** 261005096

**BUSINESS ADDRESS:**
- **STREET 1:** 4500 MAIN STREET
- **CITY:** KANSAS CITY
- **STATE:** MO
- **ZIP:** 64111
- **BUSINESS PHONE:** (816) 531-5575

**MAIL ADDRESS:**
- **STREET 1:** 4500 MAIN STREET
- **CITY:** KANSAS CITY
- **STATE:** MO
- **ZIP:** 64111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** American Century ETF Trust
- **DATE OF NAME CHANGE:** 20170628

## Series and Classes Contracts Data

### American Century Securitized Credit ETF (Series ID: S000104149)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000274747 | American Century Securitized Credit ETF | ASEC            |

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| | |
|:---|:---|
| **Summary Prospectus &nbsp;&nbsp;&nbsp;&nbsp;** <br>May 21, 2026 | ![aci_horizxrgbxblackcroppeda.jpg](aci_horizxrgbxblackcroppeda.jpg) |
| **American Century**<sup>®</sup> **Securitized Credit ETF** | **American Century**<sup>®</sup> **Securitized Credit ETF** |
| **Ticker:** ASEC | **Exchange:** The NASDAQ Stock Market LLC |

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|:---|
| Before you invest, you may want to review the fund's prospectus, which contains more information about the fund and its risks. You can find the fund's prospectus, reports to shareholders, and other information about the fund online at americancentury.com/etfdocs. You can also get this information at no cost by calling 833-ACI-ETFS or sending an email request to prospectus@americancentury.com. The fund's prospectus and other information are also available from financial intermediaries through which shares of the fund may be purchased or sold. |
| This summary prospectus incorporates by reference the fund's <u>[prospectus and statement of additional information](https://www.sec.gov/ix?doc=/Archives/edgar/data/1710607/000171060726000092/ck0001710607-20260520.htm)</u> (SAI) each dated May 21, 2026 (as supplemented at the time you receive this summary prospectus). The fund's SAI and Form N-CSR may be obtained, free of charge, in the same manner as the prospectus. |

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**Investment Objective**

The fund seeks to provide a high level of current income and total return.

**Fees and Expenses**

The following table describes the fees and expenses you may pay if you buy, hold, and sell shares of the fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.

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| | |
|:---|:---|
| **Annual Fund Operating Expenses** (expenses that you pay each year as a percentage of the value of your investment) | **Annual Fund Operating Expenses** (expenses that you pay each year as a percentage of the value of your investment) |
| Management Fee | 0.29% |
| Other Expenses<sup>1</sup> | 0.00% |
| Total Annual Fund Operating Expenses | 0.29% |

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<sup>1&nbsp;&nbsp;&nbsp;&nbsp;</sup>*Other Expenses are based on estimated amounts for the current fiscal year.*

**Example**

The example below is intended to help you compare the costs of investing in the fund with the costs of investing in other funds. The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeem all of your shares at the end of those periods, that you earn a 5% return each year, and that the fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

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| | |
|:---|:---|
| *1 year* | *3 years* |
| $30 | $93 |

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**Portfolio Turnover**

The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund's performance. Because the fund is new, the fund's portfolio turnover rate is not available.

**Principal Investment Strategies**

The fund will invest at least 80% of its net assets (plus borrowings for investment purposes) in securitized credit investments. The fund generally intends to focus on investment grade, U.S. securitized debt securities in non-traditional asset-backed sectors (such as aircraft leases, equipment leases, consumer loans, cell towers, and digital infrastructure). The fund may also invest in residential

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mortgage-backed securities, commercial mortgage-backed securities, collateralized loan obligations, and government and non-government agency securities..

Using a combination of top-down and bottom-up inputs, the portfolio managers select securities using a process integrates proprietary fundamental research and quantitative model inputs as well as qualitative assessments in order to identify inherent market inefficiencies, which create investment opportunities. The fund's investment process analyzes the performance of credits to conduct stress tests and assigns a credit score for each security in the investment universe which the portfolio managers use to analyze investments for the fund. The fund invests primarily in investment-grade securities but may also invest a portion of its assets in high-yield debt securities. Investment grade securities are those that have been rated in one of the top four credit quality categories by an independent rating agency or determined by the advisor to be of comparable credit quality. High-yield securities, which are also known as "junk bonds," are those that have been rated by an independent rating agency below the highest four categories or determined by the advisor to be of similar quality.

The fund will invest primarily in U.S. dollar-denominated securities.. The fund has no average maturity or duration limitations, but will typically be managed with a duration of less than 5 years.

The fund may also utilize derivative instruments provided that such investments are in keeping with the fund's investment objectives. Such derivative instruments include options, futures contracts, options on futures contracts, and swaps (such as credit default swaps either on a single issuer or a securities index), or in mortgage- or asset-backed securities.

The fund is an actively managed exchange-traded fund (ETF) that does not seek to replicate the performance of a specified index. When deciding whether to buy or sell a security, and how and when to implement a trade, the portfolio managers consider, among other things, various fund requirements and standards, along with economic conditions, alternative investments, interest rates and various credit metrics. They may also consider the expected implementation costs and tax consequences of the trade in an attempt to gain trading efficiencies, avoid unnecessary risk, minimize tax impact, and/or enhance fund returns.

**Principal Risks**

• **Interest Rate Risk —** Investments in debt securities are also sensitive to interest rate changes. Generally, the value of debt securities and the funds that hold them decline as interest rates rise. The fund is more susceptible to interest rate changes than funds that have shorter-weighted average maturities, such as money market and short-term bond funds. A period of rising interest rates may negatively affect the fund's performance.

• **Credit Risk —** The inability or perceived inability of a security's issuer to make interest and principal payments may cause the value of the security to decrease. As a result, the fund's share price could also decrease. Changes in the credit rating of a debt security held by the fund could have a similar effect.

• **Asset-Backed Securities Risk —** Asset-backed securities may be adversely affected by changes in interest rates, underperformance of the underlying assets, the creditworthiness of the entities that provide any supporting letters of credit, surety bonds, or other credit or liquidity enhancements. In addition, most asset-backed securities are subject to prepayment risk in a declining interest rate environment, and extension risk in an increasing rate environment.

• **Collateralized Obligations Risk —** Collateralized obligations, such as collateralized loan obligations (CLOs), are subject to credit, interest rate, valuation, and prepayment and extension risks. These securities also are subject to risk of default on the underlying asset, particularly during periods of economic downturn. The market value of collateralized obligations may be affected by, among other things, changes in the market value of the underlying assets held by the collateralized obligation, changes in the distributions on the underlying assets, defaults and recoveries on the underlying assets, capital gains and losses on the underlying assets, prepayments on underlying assets and the availability, and prices and interest rates of underlying assets. Lower rated tranches of such debt are subject to a higher risk of total loss and deferral or nonpayment of interest than the more senior tranches to which they are subordinated. Some of the collateralized obligations in which the fund invests may be covenant-lite loans. Covenant-lite loans contain fewer or less restrictive constraints on the borrower. The fund may have fewer rights against a borrower and an accompanying greater risk of loss when it invests in covenant-lite loans.

• **Derivatives Risk —** The use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities. Derivatives are subject to a number of risks, including liquidity, interest rate, market, credit and correlation risk. Derivatives used for hedging or risk management may not operate as intended, may expose the fund to other risks, and may be insufficient to protect the fund from the risks they were intended to hedge. In addition, derivatives can create economic leverage in the fund's portfolio, which may result in significant volatility and cause the fund to participate in losses (as well as gains) in an amount that exceeds the fund's initial investment. Certain derivatives have the potential for unlimited loss, regardless of the size of the initial investment.

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Futures contracts may experience dramatic price changes and imperfect correlations between the price of the contract and the underlying security, index or currency.

Swap agreements subject a fund to the risk that the counterparty to the transaction may not meet its obligations. The fund also bears the risk of loss of the amount expected to be received under a swap agreement in the event of the default or bankruptcy of a counterparty. Swap agreements may also be considered illiquid.

Foreign currency forward contracts and other derivatives contracts on foreign currencies involve a risk of loss if currency exchange rates move against the fund's position.

• **High-Yield Risk —** Issuers of high-yield securities are more vulnerable to real or perceived economic changes (such as an economic downturn or a prolonged period of rising interest rates), political changes or adverse developments specific to an issuer. These factors may be more likely to cause an issuer of low-quality bonds to default on its obligations. High-yield securities are speculative.

• **Counterparty Risk —** If the fund enters into financial contracts, the fund will be subject to the credit risk presented by the counterparties.

• **Cash Transactions Risk —** The fund may effect its creations and redemptions for cash, rather than for in-kind securities. Therefore, it may be required to sell portfolio securities and subsequently recognize gains on such sales that the fund might not have recognized if it were to distribute portfolio securities in-kind. As such, investments in fund shares may be less tax-efficient than an investment in an ETF that distributes portfolio securities entirely in-kind. Cash transactions may have to be carried out over several days if the securities market is relatively illiquid and may involve considerable brokerage fees and taxes. Brokerage fees and taxes will be higher than if the fund sold and redeemed shares in-kind.

• **Liquidity Risk —** During periods of market turbulence or unusually low trading activity, it may be necessary for the fund to sell securities at prices that could have an adverse effect on the fund. The market for lower-quality debt securities is generally less liquid than the market for higher-quality securities. Changing regulatory and market conditions, including increases in interest rates and credit spreads may adversely affect the liquidity of the fund's investments.

**• Market Trading Risk —** The fund faces numerous market trading risks, including the potential lack of an active market for fund shares, losses from trading in secondary markets, periods of high volatility and disruption in the creation and/or redemption process of the fund. Any of these factors, among others, may lead to the fund's shares trading at a premium or discount to NAV. Thus, you may pay more (or less) than NAV when you buy shares of the fund in the secondary market, and you may receive less (or more) than NAV when you sell those shares in the secondary market. The portfolio managers cannot predict whether shares will trade above (premium), below (discount) or at NAV.

**• Market Risk —** The value of the fund's shares will go up and down, sometimes rapidly or unpredictably, based on the performance of the issuers whose securities it owns and other factors generally affecting the securities market. Market risks, including political, regulatory, economic and social developments, can affect the value of the fund's investments. Natural disasters, public health emergencies, war, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.

• **Prepayment and Extension Risk —** The fund may invest in debt securities backed by mortgages or other assets. If these underlying assets are prepaid, the fund may benefit less from declining interest rates than funds of similar duration that invest less heavily in mortgage and asset-backed securities. Conversely, an issuer may exercise its right to pay principal on an obligation held by the fund later than expected (extend the obligation) especially in periods of rising interest rates. These events may lengthen the duration (*i.e.*, interest rate sensitivity) and potentially reduce the value of these securities.

• **Authorized Participant 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. To the extent that these institutions exit the business or are unable to proceed with creation and/or redemption orders with respect to the fund and no other authorized participant is able to step forward to process creation and/or redemption orders, fund shares may trade at a discount to net asset value (NAV) and possibly face trading halts and/or delisting. This risk may be more pronounced in volatile markets, potentially where there are significant redemptions in ETFs generally.

• **Large Shareholder Risk —** Certain shareholders, including other funds advised by the advisor, may from time to time own a substantial amount of the shares of the fund. In addition, a third party investor, the advisor or an affiliate of the advisor, an authorized participant, a market maker, or another entity may invest in the fund and hold its investment for a limited period of time solely to facilitate commencement of the fund or to facilitate the fund's achieving a specified size or scale. There can be no assurance that any large shareholder would not redeem its investment, that the size of the fund would be maintained at such levels or that the fund would continue to meet applicable listing requirements. Redemptions by large shareholders could have a significant negative impact on the fund. In addition, transactions by large shareholders may account for a large percentage of the trading volume on the NASDAQ Stock Market LLC and may therefore have a material upward or downward effect on the market price of the shares.

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• **Principal Loss Risk —** At any given time your shares may be worth less than the price you paid for them. In other words, it is possible to lose money by investing in the fund.

An investment in the fund is not a bank deposit, and it is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.

**Fund Performance**

The fund's performance history is not available as of the date of this prospectus. When the fund has investment results for a full calendar year, this section will feature charts that show annual total returns, highest and lowest quarterly returns and average annual total returns for the fund. This information indicates the volatility of the fund's historical returns from year to year. For current performance information, please visit avantisinvestors.com.

Performance information is designed to help you see how fund returns can vary. Keep in mind that past performance (before and after taxes) does not predict how the fund will perform in the future.

**Portfolio Management**

**Investment Advisor**

American Century Investment Management, Inc.

**Portfolio Managers**

**Paul Norris,** Vice President and Senior Portfolio Manager, has been a member of the team that manages the funds since its inception.

**Michael Waggaman,** Vice President and Senior Portfolio Manager, has been a member of the team that manages the funds since its inception.

**Purchase and Sale of Fund Shares**

The fund is an ETF. Fund shares may only be bought and sold in a secondary market through a broker-dealer at a market price. Because ETF shares trade at market prices rather than NAV, shares may trade at a price greater than NAV (a premium) or less than NAV (a discount). An investor may incur costs attributable to the difference between the highest price a buyer is willing to pay to purchase shares of the fund (bid) and the lowest price a seller is willing to accept for shares of the fund (ask) when buying or selling shares in the secondary market (bid-ask spread). Investors can find information on the fund's NAV, market price, premiums and discounts, and bid-ask spread at americancentury.com.

**Tax Information**

Fund distributions are generally taxable as ordinary income or capital gains, unless you are investing through a tax-deferred account such as a 401(k) or individual retirement account (in which case you may be taxed upon withdrawal of your investment from such account).

**Payments to Broker-Dealers and Other Financial Intermediaries**

If you purchase the fund through a broker-dealer or other financial intermediary (such as a bank), the advisor and its related companies may pay the intermediary for the sale of fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.

<br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

CL-SUM-98888 2605

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