0000100334-20-000057.txt : 20200409 0000100334-20-000057.hdr.sgml : 20200409 20200409094119 ACCESSION NUMBER: 0000100334-20-000057 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 15 FILED AS OF DATE: 20200409 DATE AS OF CHANGE: 20200409 EFFECTIVENESS DATE: 20200409 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN CENTURY MUTUAL FUNDS, INC. CENTRAL INDEX KEY: 0000100334 IRS NUMBER: 446006315 STATE OF INCORPORATION: MD FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-14213 FILM NUMBER: 20783363 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 MUTUAL FUNDS INC DATE OF NAME CHANGE: 19970107 FORMER COMPANY: FORMER CONFORMED NAME: TWENTIETH CENTURY INVESTORS INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN CENTURY CALIFORNIA TAX FREE & MUNICIPAL FUNDS CENTRAL INDEX KEY: 0000717316 IRS NUMBER: 946562826 STATE OF INCORPORATION: MA FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-82734 FILM NUMBER: 20783372 BUSINESS ADDRESS: STREET 1: 1665 CHARLESTON RD CITY: MOUNTAIN VIEW STATE: CA ZIP: 94043 BUSINESS PHONE: 8003218321 MAIL ADDRESS: STREET 1: 1665 CHARLESTON RD CITY: MOUNTAIN VIEW STATE: CA ZIP: 94043 FORMER COMPANY: FORMER CONFORMED NAME: BENHAM CALIFORNIA TAX FREE TRUST / DATE OF NAME CHANGE: 19960815 FORMER COMPANY: FORMER CONFORMED NAME: BENHAM CALIFORNIA TAX FREE & MUNICIPAL FUNDS DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: BENHAM CALIFORNIA TAX FREE TRUST DATE OF NAME CHANGE: 19910218 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN CENTURY MUNICIPAL TRUST CENTRAL INDEX KEY: 0000746458 IRS NUMBER: 776009794 STATE OF INCORPORATION: MA FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-91229 FILM NUMBER: 20783371 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: BENHAM MUNICIPAL TRUST DATE OF NAME CHANGE: 19940202 FORMER COMPANY: FORMER CONFORMED NAME: BENHAM NATIONAL TAX FREE TRUST DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN CENTURY TARGET MATURITIES TRUST CENTRAL INDEX KEY: 0000757928 IRS NUMBER: 431920414 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-94608 FILM NUMBER: 20783370 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: BENHAM TARGET MATURITIES TRUST DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN CENTURY GOVERNMENT INCOME TRUST CENTRAL INDEX KEY: 0000773674 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-99222 FILM NUMBER: 20783369 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: KANSASA CITY STATE: MO ZIP: 64111 FORMER COMPANY: FORMER CONFORMED NAME: BENHAM GOVERNMENT INCOME TRUST DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN CENTURY VARIABLE PORTFOLIOS INC CENTRAL INDEX KEY: 0000814680 IRS NUMBER: 431460078 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-14567 FILM NUMBER: 20783375 BUSINESS ADDRESS: STREET 1: 4500 MAIN STREET STREET 2: 9TH FLOOR 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: TCI PORTFOLIOS INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN CENTURY QUANTITATIVE EQUITY FUNDS, INC. CENTRAL INDEX KEY: 0000827060 IRS NUMBER: 431819235 STATE OF INCORPORATION: MD FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-19589 FILM NUMBER: 20783368 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 STREET 2: 9TH FLOOR CITY: KANSAS CITY STATE: MO ZIP: 64111 FORMER COMPANY: FORMER CONFORMED NAME: AMERICAN CENTURY QUANTITATIVE EQUITY FUNDS DATE OF NAME CHANGE: 19970107 FORMER COMPANY: FORMER CONFORMED NAME: BENHAM EQUITY FUNDS DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: BENHAM EQUITIES INC DATE OF NAME CHANGE: 19880821 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN CENTURY WORLD MUTUAL FUNDS INC CENTRAL INDEX KEY: 0000872825 IRS NUMBER: 431567889 STATE OF INCORPORATION: MD FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-39242 FILM NUMBER: 20783377 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: TWENTIETH CENTURY WORLD INVESTORS INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN CENTURY INTERNATIONAL BOND FUNDS CENTRAL INDEX KEY: 0000880268 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-43321 FILM NUMBER: 20783367 BUSINESS ADDRESS: STREET 1: 4500 MAIN STREET STREET 2: 9TH FLOOR CITY: KANSAS CITY STATE: MO ZIP: 64111 BUSINESS PHONE: 8003218321 MAIL ADDRESS: STREET 1: 4500 MAIN STREET STREET 2: 9TH FLOOR CITY: KANSAS CITY STATE: MO ZIP: 64111 FORMER COMPANY: FORMER CONFORMED NAME: BENHAM INTERNATIONAL FUNDS DATE OF NAME CHANGE: 19920929 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN CENTURY CAPITAL PORTFOLIOS INC CENTRAL INDEX KEY: 0000908186 IRS NUMBER: 431646043 STATE OF INCORPORATION: MD FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-64872 FILM NUMBER: 20783376 BUSINESS ADDRESS: STREET 1: 4500 MAIN STREET STREET 2: 9TH FLOOR 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: TWENTIETH CENTURY CAPITAL PORTFOLIOS INC DATE OF NAME CHANGE: 19930624 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN CENTURY INVESTMENT TRUST CENTRAL INDEX KEY: 0000908406 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-65170 FILM NUMBER: 20783373 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: BENHAM INVESTMENT TRUST DATE OF NAME CHANGE: 19930629 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN CENTURY STRATEGIC ASSET ALLOCATIONS INC CENTRAL INDEX KEY: 0000924211 IRS NUMBER: 431677617 STATE OF INCORPORATION: MD FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-79482 FILM NUMBER: 20783374 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: TWENTIETH CENTURY STRATEGIC PORTFOLIOS INC /MO/ DATE OF NAME CHANGE: 19951130 FORMER COMPANY: FORMER CONFORMED NAME: TWENTIETH CENTURY INSTITUTIONAL PORTFILIOS INC DATE OF NAME CHANGE: 19940531 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN CENTURY ASSET ALLOCATION PORTFOLIOS, INC. CENTRAL INDEX KEY: 0001293210 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-116351 FILM NUMBER: 20783366 BUSINESS ADDRESS: STREET 1: 4500 MAIN STREET STREET 2: 9TH FLOOR CITY: KANSAS CITY STATE: MO ZIP: 64111 BUSINESS PHONE: 816-531-5575 MAIL ADDRESS: STREET 1: 4500 MAIN STREET STREET 2: 9TH FLOOR CITY: KANSAS CITY STATE: MO ZIP: 64111 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN CENTURY GROWTH FUNDS, INC. CENTRAL INDEX KEY: 0001353176 IRS NUMBER: 204223518 STATE OF INCORPORATION: MD FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-132114 FILM NUMBER: 20783365 BUSINESS ADDRESS: STREET 1: 4500 MAIN STREET STREET 2: 9TH FLOOR CITY: KANSAS CITY STATE: MO ZIP: 64111 BUSINESS PHONE: 816-531-5575 MAIL ADDRESS: STREET 1: 4500 MAIN STREET STREET 2: 9TH FLOOR CITY: KANSAS CITY STATE: MO ZIP: 64111 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN CENTURY ETF TRUST CENTRAL INDEX KEY: 0001710607 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-221045 FILM NUMBER: 20783364 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 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN CENTURY VARIABLE PORTFOLIOS II INC CENTRAL INDEX KEY: 0001124155 IRS NUMBER: 431901969 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-46922 FILM NUMBER: 20783378 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 0000100334 S000006192 BALANCED FUND C000017045 INVESTOR CLASS TWBIX C000017047 I CLASS ABINX C000189734 R5 CLASS ABGNX 0000100334 S000006193 SMALL CAP GROWTH FUND C000017048 I CLASS ANONX C000017049 INVESTOR CLASS ANOIX C000017050 A CLASS ANOAX C000017052 C CLASS ANOCX C000055516 R CLASS ANORX C000131596 R6 CLASS ANODX C000189735 R5 CLASS ANOGX C000189736 Y CLASS ANOYX C000212512 G Class ANOHX 0000100334 S000006194 SELECT FUND C000017053 INVESTOR CLASS TWCIX C000017054 A CLASS TWCAX C000017055 I CLASS TWSIX C000017058 C CLASS ACSLX C000017059 R CLASS ASERX C000131597 R6 CLASS ASDEX C000189737 R5 CLASS ASLGX C000189738 Y CLASS ASLWX 0000100334 S000006195 ULTRA FUND C000017060 INVESTOR CLASS TWCUX C000017061 A CLASS TWUAX C000017062 I CLASS TWUIX C000017063 C CLASS TWCCX C000017064 R CLASS AULRX C000131598 R6 CLASS AULDX C000189739 R5 CLASS AULGX C000189740 Y CLASS AULYX C000214991 G Class AULNX 0000100334 S000006203 SUSTAINABLE EQUITY FUND C000017094 INVESTOR CLASS AFDIX C000017095 I CLASS AFEIX C000017096 A CLASS AFDAX C000017098 C CLASS AFDCX C000017099 R CLASS AFDRX C000189741 R5 CLASS AFDGX C000189742 Y CLASS AFYDX C000212513 G Class AFEGX C000212514 R6 Class AFEDX 0000100334 S000006205 GROWTH FUND C000017101 INVESTOR CLASS TWCGX C000017102 A CLASS TCRAX C000017103 I CLASS TWGIX C000017105 R CLASS AGWRX C000088050 C CLASS TWRCX C000131599 R6 CLASS AGRDX C000189743 R5 CLASS AGWUX C000189744 Y CLASS AGYWX 0000100334 S000006206 HERITAGE FUND C000017106 INVESTOR CLASS TWHIX C000017107 A CLASS ATHAX C000017108 I CLASS ATHIX C000017109 C CLASS AHGCX C000055524 R CLASS ATHWX C000129042 R6 CLASS ATHDX C000189745 R5 CLASS ATHGX C000189746 Y CLASS ATHYX 0000100334 S000010981 NT GROWTH FUND C000030355 G CLASS ACLTX 0000100334 S000010982 NT HERITAGE FUND C000030356 G CLASS ACLWX 0000717316 S000005667 CALIFORNIA HIGH-YIELD MUNICIPAL FUND C000015521 INVESTOR CLASS BCHYX C000015522 A CLASS CAYAX C000015524 C CLASS CAYCX C000087984 I CLASS BCHIX C000189669 Y CLASS ACYHX 0000717316 S000005668 CALIFORNIA INTERMEDIATE-TERM TAX-FREE BOND FUND C000015525 INVESTOR CLASS BCITX C000087985 I CLASS BCTIX C000087986 A CLASS BCIAX C000087987 C CLASS BCIYX C000189670 Y CLASS ACYTX 0000746458 S000006471 HIGH-YIELD MUNICIPAL FUND C000017685 INVESTOR CLASS ABHYX C000017686 A CLASS AYMAX C000017688 C CLASS AYMCX C000088012 I CLASS AYMIX C000189766 Y CLASS AYMYX 0000746458 S000006472 INTERMEDIATE-TERM TAX-FREE BOND FUND C000017689 INVESTOR CLASS TWTIX C000017691 I CLASS AXBIX C000088013 A CLASS TWWOX C000088014 C CLASS TWTCX C000189767 Y CLASS ATBYX 0000757928 S000005944 ZERO COUPON 2020 FUND C000016390 INVESTOR CLASS BTTTX C000016391 ADVISOR CLASS ACTEX 0000757928 S000005945 ZERO COUPON 2025 FUND C000016392 INVESTOR CLASS BTTRX C000016393 ADVISOR CLASS ACTVX 0000773674 S000005966 GINNIE MAE FUND C000016430 INVESTOR CLASS BGNMX C000016431 A CLASS BGNAX C000051002 R5 CLASS AGMNX C000051003 R CLASS AGMWX C000088034 C CLASS BGNCX C000189731 I CLASS AGMHX 0000773674 S000005968 GOVERNMENT BOND FUND C000016435 INVESTOR CLASS CPTNX C000016436 A CLASS ABTAX C000088035 R5 CLASS ABTIX C000088036 C CLASS ABTCX C000088037 R CLASS ABTRX C000189732 I CLASS ABHTX 0000773674 S000005969 INFLATION-ADJUSTED BOND FUND C000016437 INVESTOR CLASS ACITX C000016438 A CLASS AIAVX C000016439 R5 CLASS AIANX C000088038 C CLASS AINOX C000088039 R CLASS AIARX C000181796 I CLASS AIAHX C000181797 Y CLASS AIAYX C000191079 R6 CLASS AIADX C000191080 G CLASS AINGX 0000773674 S000005970 SHORT-TERM GOVERNMENT FUND 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S000006605 INTERNATIONAL GROWTH FUND C000018035 INVESTOR CLASS TWIEX C000018036 A CLASS TWGAX C000018037 I CLASS TGRIX C000018040 C CLASS AIWCX C000018041 R CLASS ATGRX C000131624 R6 CLASS ATGDX C000189783 Y CLASS ATYGX C000189784 R5 CLASS ATGGX 0000872825 S000006606 INTERNATIONAL OPPORTUNITIES FUND C000018042 INVESTOR CLASS AIOIX C000018043 I CLASS ACIOX C000088079 A CLASS AIVOX C000088080 C CLASS AIOCX C000088081 R CLASS AIORX 0000872825 S000006610 INTERNATIONAL VALUE FUND C000018052 INVESTOR CLASS ACEVX C000018053 I CLASS ACVUX C000018054 A CLASS MEQAX C000018056 C CLASS ACCOX C000018057 R CLASS ACVRX C000131625 R6 CLASS ACVDX 0000872825 S000010978 NT EMERGING MARKETS FUND C000030352 G CLASS ACLKX 0000872825 S000010979 NT INTERNATIONAL GROWTH FUND C000030353 G CLASS ACLNX 0000872825 S000048405 NT INTERNATIONAL SMALL-MID CAP FUND C000152811 INVESTOR CLASS ANTSX C000152812 G CLASS ANTMX 0000872825 S000048406 NT INTERNATIONAL VALUE FUND C000152814 INVESTOR CLASS ANTVX C000152815 G 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C000033214 INVESTOR CLASS ACFOX C000033215 I CLASS ACFSX C000033216 ADVISOR CLASS ACFDX C000033217 R CLASS ACFCX C000174988 R6 Class ACFNX C000212516 G Class ACFGX 0001710607 S000060785 American Century Diversified Corporate Bond ETF C000197601 American Century Diversified Corporate Bond ETF KORP 0001710607 S000060786 American Century STOXX U.S. Quality Value ETF C000197602 American Century STOXX U.S. Quality Value ETF VALQ 0001710607 S000062301 American Century Quality Diversified International ETF C000202058 American Century Quality Diversified International ETF QINT 0001710607 S000062302 American Century STOXX U.S. Quality Growth ETF C000202059 American Century STOXX U.S. Quality Growth ETF QGRO 0001710607 S000063004 American Century Focused Dynamic Growth ETF C000204442 American Century Focused Dynamic Growth ETF FDG 0001710607 S000063005 American Century Focused Large Cap Value ETF C000204443 American Century Focused Large Cap Value ETF FLV 0001710607 S000063026 American Century Diversified Municipal Bond ETF C000204482 American Century Diversified Municipal Bond ETF TAXF 0001710607 S000066454 Avantis Emerging Markets Equity ETF C000214349 Avantis Emerging Markets Equity ETF AVEM 0001710607 S000066455 Avantis International Small Cap Value Fund C000214350 Institutional Class AVDVX 0001710607 S000066456 Avantis International Equity ETF C000214351 Avantis International Equity ETF AVDE 0001710607 S000066457 Avantis International Small Cap Value ETF C000214352 Avantis International Small Cap Value ETF AVDV 0001710607 S000066458 Avantis U.S. Equity ETF C000214353 Avantis U.S. Equity ETF AVUS 0001710607 S000066459 Avantis U.S. Small Cap Value ETF C000214354 Avantis U.S. Small Cap Value ETF AVUV 0001710607 S000066460 Avantis U.S. Equity Fund C000214355 Institutional Class AVUSX 0001710607 S000066461 Avantis U.S. Small Cap Value Fund C000214356 Institutional Class AVUVX 0001710607 S000066462 Avantis Emerging Markets Equity Fund C000214357 Institutional Class AVEEX 0001710607 S000066463 Avantis International Equity Fund C000214358 Institutional Class AVDEX 497 1 xbrlformarketrisk497e.htm 497 Document


American Century California Tax-Free and Municipal Funds
California High-Yield Municipal Fund, California Intermediate-Term Tax-Free Bond Fund
American Century ETF Trust
American Century Diversified Corporate Bond ETF, American Century Diversified Municipal Bond ETF, American Century Quality Diversified International ETF, American Century STOXX® U.S. Quality Growth ETF, American Century STOXX® U.S. Quality Value ETF, Avantis™ Emerging Markets Equity ETF, Avantis™ International Equity ETF, Avantis™ International Small Cap Value ETF, Avantis™ U. S. Equity ETF, Avantis™ U.S. Small Cap Value ETF, Avantis™ Emerging Markets Equity Fund, Avantis™ International Equity Fund, Avantis™ International Small Cap Value Fund, Avantis™ U. S. Equity Fund, Avantis™ U.S. Small Cap Value Fund, American Century Focused Dynamic Growth ETF, American Century Focused Large Cap Value ETF
American Century Target Maturities Trust
Zero Coupon 2020, Zero Coupon 2025
American Century Mutual Funds, Inc.
Balanced Fund, Growth Fund, Heritage Fund, NT Growth Fund, NT Heritage Fund, Select Fund, Small Cap Growth Fund, Sustainable Equity Fund, Ultra® Fund
American Century Capital Portfolios, Inc.
AC Alternatives Income Fund, AC Alternatives Market Neutral Value Fund, Equity Income Fund, Large Company Value Fund, Mid Cap Value Fund, NT Global Real Estate Fund, NT Large Company Value Fund, NT Mid Cap Value Fund, Real Estate Fund, Small Cap Value Fund, Value Fund
American Century International Bond Funds
Emerging Markets Debt Fund, Global Bond Fund, International Bond Fund
American Century World Mutual Funds, Inc.
Emerging Markets Fund, Emerging Markets Small Cap Fund, Focused Global Growth Fund, Focused International Growth Fund, Global Small Cap Fund, International Growth Fund, International Opportunities Fund, International Value Fund, Non-U.S. Intrinsic Value Fund, NT International Growth Fund, NT International Small-Mid Cap Fund, NT International Value Fund
American Century Variable Portfolios, Inc.
VP Balance Fund, VP Capital Appreciation Fund, VP Growth Fund, VP Income & Growth Fund, VP International Fund, VP Large Company Value Fund, VP Mid Cap Value Fund, VP Ultra® Fund, VP Value Fund
American Century Variable Portfolios II, Inc.
VP Inflation Protection Fund
American Century Investment Trust
Core Plus Fund, Diversified Bond Fund, High Income Fund, High-Yield Fund, NT Diversified Bond Fund, NT High Income Fund, Short Duration Fund, Short Duration Inflation Protection Bond Fund, Short Duration Strategic Income Fund, Strategic Income Fund
American Century Government Income Trust
Ginnie Mae Fund, Government Bond Fund, Inflation-Adjusted Bond Fund, Short-Term Government Fund
American Century Municipal Trust
High-Yield Municipal Fund, Intermediate-Term Tax-Free Fund
American Century Quantitative Equity Funds, Inc.
Disciplined Growth Fund, Equity Growth Fund, Global Gold Fund, Income & Growth Fund, Multi-Asset Real Return Fund, NT Disciplined Growth Fund, NT Equity Growth Fund, Small Company Fund, Utilities Fund
American Century Asset Allocation Portfolios, Inc.
One Choice® 2020 Portfolio, One Choice® 2025 Portfolio, One Choice® 2030 Portfolio, One Choice® 2035 Portfolio, One Choice® 2040 Portfolio, One Choice® 2045 Portfolio, One Choice® 2050 Portfolio, One Choice® 2055 Portfolio, One Choice® 2060 Portfolio, One Choice Portfolio®: Very Conservative, One Choice Portfolio®: Conservative, One Choice Portfolio®: Moderate, One Choice Portfolio®: Aggressive, One Choice Portfolio®: Very Aggressive
American Century Growth Funds, Inc.
Focused Dynamic Growth Fund
American Century Strategic Asset Allocation, Inc.
Multi-Asset Income Fund, Strategic Allocation: Conservative Fund, Strategic Allocation: Moderate Fund, Strategic Allocation: Aggressive Fund

April 8, 2020


EXPLANATORY NOTE

On behalf of the funds and ETFs, and pursuant to Rule 497(e) under the Securities Act of 1933, as amended (the “Securities Act”), the purpose of this filing is to submit an interactive data file in the manner provided by Rule 405 of Regulation S-T and General Instruction C.3.(g) of Form N-1A. The interactive data file included as an exhibit to this filing relates to the prospectus supplement filed with the Securities and Exchange Commission on behalf of the Corporations and Trusts pursuant to Rule 497(e) under the Securities Act on March 19, 2020; such filing (Accession Number 0000717316-20-000015) is incorporated by reference into this Rule 497 Document.










EXHIBIT INDEX

EXHIBIT NUMBER
DESCRIPTION OF DOCUMENT
Exhibit - 101.CAL
XBRL Taxonomy Extension Calculation Linkbase Document
Exhibit - 101.INS
XBRL Instance Document
Exhibit - 101.SCH
XBRL Taxonomy Extension Schema Document
Exhibit - 101.PRE
XBRL Taxonomy Extension Presentation Linkbase Document
Exhibit - 101.DEF
XBRL Taxonomy Extension Definition Linkbase Document
Exhibit - 101.LAB
XBRL Taxonomy Extension Label Linkbase Document



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Bond Funds</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century World Mutual Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Variable Portfolios, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Variable Portfolios II, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Government Income Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial 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style="font-family:inherit;font-size:10pt;">Principal Risks </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">section in each summary prospectus and prospectus, as well as the section titled </font><font style="font-family:inherit;font-size:10pt;">What are the principal risks of investing in the fund?, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">in</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">each prospectus:</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Market risks, including political, regulatory, economic and social developments, can affect the value of the fund&#8217;s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:left;font-size:14pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2" rowspan="1"></td></tr><tr><td style="width:67%;" rowspan="1" colspan="1"></td><td style="width:33%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="padding-bottom:12px;text-align:left;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">Summary Prospectus and Prospectus Supplement</font></div><div style="padding-bottom:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Supplement dated March 19, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century California Tax-Free and Municipal Funds </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century ETF Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Target Maturities Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Mutual Funds, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Capital Portfolios, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century International Bond Funds</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century World Mutual Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Variable Portfolios, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Variable Portfolios II, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Government Income Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Investment Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Municipal Trust </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Quantitative Equity Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Asset Allocation Portfolios, Inc.</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Growth Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Strategic Asset Allocations, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">The following disclosure is added to the </font><font style="font-family:inherit;font-size:10pt;">Market Risk</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> in the </font><font style="font-family:inherit;font-size:10pt;">Principal Risks </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">section in each summary prospectus and prospectus, as well as the section titled </font><font style="font-family:inherit;font-size:10pt;">What are the principal risks of investing in the fund?, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">in</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">each prospectus:</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Market risks, including political, regulatory, economic and social developments, can affect the value of the fund&#8217;s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:left;font-size:14pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2" rowspan="1"></td></tr><tr><td style="width:67%;" rowspan="1" colspan="1"></td><td style="width:33%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="padding-bottom:12px;text-align:left;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">Summary Prospectus and Prospectus Supplement</font></div><div style="padding-bottom:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Supplement dated March 19, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century California Tax-Free and Municipal Funds </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century ETF Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Target Maturities Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Mutual Funds, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Capital Portfolios, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century International Bond Funds</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century World Mutual Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Variable Portfolios, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Variable Portfolios II, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Government Income Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Investment Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Municipal Trust </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Quantitative Equity Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Asset Allocation Portfolios, Inc.</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Growth Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Strategic Asset Allocations, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">The following disclosure is added to the </font><font style="font-family:inherit;font-size:10pt;">Market Risk</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> in the </font><font style="font-family:inherit;font-size:10pt;">Principal Risks </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">section in each summary prospectus and prospectus, as well as the section titled </font><font style="font-family:inherit;font-size:10pt;">What are the principal risks of investing in the fund?, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">in</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">each prospectus:</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Market risks, including political, regulatory, economic and social developments, can affect the value of the fund&#8217;s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:left;font-size:14pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2" rowspan="1"></td></tr><tr><td style="width:67%;" rowspan="1" colspan="1"></td><td style="width:33%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="padding-bottom:12px;text-align:left;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">Summary Prospectus and Prospectus Supplement</font></div><div style="padding-bottom:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Supplement dated March 19, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century California Tax-Free and Municipal Funds </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century ETF Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Target Maturities Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Mutual Funds, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Capital Portfolios, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century International Bond Funds</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century World Mutual Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Variable Portfolios, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Variable Portfolios II, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Government Income Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Investment Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Municipal Trust </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Quantitative Equity Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Asset Allocation Portfolios, Inc.</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Growth Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Strategic Asset Allocations, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">The following disclosure is added to the </font><font style="font-family:inherit;font-size:10pt;">Market Risk</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> in the </font><font style="font-family:inherit;font-size:10pt;">Principal Risks </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">section in each summary prospectus and prospectus, as well as the section titled </font><font style="font-family:inherit;font-size:10pt;">What are the principal risks of investing in the fund?, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">in</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">each prospectus:</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Market risks, including political, regulatory, economic and social developments, can affect the value of the fund&#8217;s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:left;font-size:14pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2" rowspan="1"></td></tr><tr><td style="width:67%;" rowspan="1" colspan="1"></td><td style="width:33%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="padding-bottom:12px;text-align:left;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">Summary Prospectus and Prospectus Supplement</font></div><div style="padding-bottom:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Supplement dated March 19, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century California Tax-Free and Municipal Funds </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century ETF Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Target Maturities Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Mutual Funds, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Capital Portfolios, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century International Bond Funds</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century World Mutual Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Variable Portfolios, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Variable Portfolios II, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Government Income Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Investment Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Municipal Trust </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Quantitative Equity Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Asset Allocation Portfolios, Inc.</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Growth Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Strategic Asset Allocations, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">The following disclosure is added to the </font><font style="font-family:inherit;font-size:10pt;">Market Risk</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> in the </font><font style="font-family:inherit;font-size:10pt;">Principal Risks </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">section in each summary prospectus and prospectus, as well as the section titled </font><font style="font-family:inherit;font-size:10pt;">What are the principal risks of investing in the fund?, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">in</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">each prospectus:</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Market risks, including political, regulatory, economic and social developments, can affect the value of the fund&#8217;s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:left;font-size:14pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2" rowspan="1"></td></tr><tr><td style="width:67%;" rowspan="1" colspan="1"></td><td style="width:33%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="padding-bottom:12px;text-align:left;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">Summary Prospectus and Prospectus Supplement</font></div><div style="padding-bottom:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Supplement dated March 19, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century California Tax-Free and Municipal Funds </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century ETF Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Target Maturities Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Mutual Funds, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Capital Portfolios, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century International Bond Funds</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century World Mutual Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Variable Portfolios, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Variable Portfolios II, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Government Income Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Investment Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Municipal Trust </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Quantitative Equity Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Asset Allocation Portfolios, Inc.</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Growth Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Strategic Asset Allocations, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">The following disclosure is added to the </font><font style="font-family:inherit;font-size:10pt;">Market Risk</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> in the </font><font style="font-family:inherit;font-size:10pt;">Principal Risks </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">section in each summary prospectus and prospectus, as well as the section titled </font><font style="font-family:inherit;font-size:10pt;">What are the principal risks of investing in the fund?, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">in</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">each prospectus:</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Market risks, including political, regulatory, economic and social developments, can affect the value of the fund&#8217;s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:left;font-size:14pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2" rowspan="1"></td></tr><tr><td style="width:67%;" rowspan="1" colspan="1"></td><td style="width:33%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="padding-bottom:12px;text-align:left;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">Summary Prospectus and Prospectus Supplement</font></div><div style="padding-bottom:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Supplement dated March 19, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century California Tax-Free and Municipal Funds </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century ETF Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Target Maturities Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Mutual Funds, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Capital Portfolios, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century International Bond Funds</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century World Mutual Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Variable Portfolios, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Variable Portfolios II, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Government Income Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Investment Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Municipal Trust </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Quantitative Equity Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Asset Allocation Portfolios, Inc.</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Growth Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Strategic Asset Allocations, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">The following disclosure is added to the </font><font style="font-family:inherit;font-size:10pt;">Market Risk</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> in the </font><font style="font-family:inherit;font-size:10pt;">Principal Risks </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">section in each summary prospectus and prospectus, as well as the section titled </font><font style="font-family:inherit;font-size:10pt;">What are the principal risks of investing in the fund?, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">in</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">each prospectus:</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Market risks, including political, regulatory, economic and social developments, can affect the value of the fund&#8217;s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:left;font-size:14pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2" rowspan="1"></td></tr><tr><td style="width:67%;" rowspan="1" colspan="1"></td><td style="width:33%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="padding-bottom:12px;text-align:left;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">Summary Prospectus and Prospectus Supplement</font></div><div style="padding-bottom:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Supplement dated March 19, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century California Tax-Free and Municipal Funds </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century ETF Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Target Maturities Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Mutual Funds, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Capital Portfolios, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century International Bond Funds</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century World Mutual Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Variable Portfolios, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Variable Portfolios II, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Government Income Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Investment Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Municipal Trust </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Quantitative Equity Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Asset Allocation Portfolios, Inc.</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Growth Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Strategic Asset Allocations, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">The following disclosure is added to the </font><font style="font-family:inherit;font-size:10pt;">Market Risk</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> in the </font><font style="font-family:inherit;font-size:10pt;">Principal Risks </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">section in each summary prospectus and prospectus, as well as the section titled </font><font style="font-family:inherit;font-size:10pt;">What are the principal risks of investing in the fund?, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">in</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">each prospectus:</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Market risks, including political, regulatory, economic and social developments, can affect the value of the fund&#8217;s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:left;font-size:14pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2" rowspan="1"></td></tr><tr><td style="width:67%;" rowspan="1" colspan="1"></td><td style="width:33%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="padding-bottom:12px;text-align:left;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">Summary Prospectus and Prospectus Supplement</font></div><div style="padding-bottom:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Supplement dated March 19, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century California Tax-Free and Municipal Funds </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century ETF Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Target Maturities Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Mutual Funds, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Capital Portfolios, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century International Bond Funds</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century World Mutual Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Variable Portfolios, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Variable Portfolios II, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Government Income Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Investment Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Municipal Trust </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Quantitative Equity Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Asset Allocation Portfolios, Inc.</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Growth Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Strategic Asset Allocations, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">The following disclosure is added to the </font><font style="font-family:inherit;font-size:10pt;">Market Risk</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> in the </font><font style="font-family:inherit;font-size:10pt;">Principal Risks </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">section in each summary prospectus and prospectus, as well as the section titled </font><font style="font-family:inherit;font-size:10pt;">What are the principal risks of investing in the fund?, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">in</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">each prospectus:</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Market risks, including political, regulatory, economic and social developments, can affect the value of the fund&#8217;s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:left;font-size:14pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2" rowspan="1"></td></tr><tr><td style="width:67%;" rowspan="1" colspan="1"></td><td style="width:33%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="padding-bottom:12px;text-align:left;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">Summary Prospectus and Prospectus Supplement</font></div><div style="padding-bottom:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Supplement dated March 19, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century California Tax-Free and Municipal Funds </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century ETF Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Target Maturities Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Mutual Funds, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Capital Portfolios, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century International Bond Funds</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century World Mutual Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Variable Portfolios, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Variable Portfolios II, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Government Income Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Investment Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Municipal Trust </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Quantitative Equity Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Asset Allocation Portfolios, Inc.</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Growth Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Strategic Asset Allocations, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">The following disclosure is added to the </font><font style="font-family:inherit;font-size:10pt;">Market Risk</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> in the </font><font style="font-family:inherit;font-size:10pt;">Principal Risks </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">section in each summary prospectus and prospectus, as well as the section titled </font><font style="font-family:inherit;font-size:10pt;">What are the principal risks of investing in the fund?, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">in</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">each prospectus:</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Market risks, including political, regulatory, economic and social developments, can affect the value of the fund&#8217;s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:left;font-size:14pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2" rowspan="1"></td></tr><tr><td style="width:67%;" rowspan="1" colspan="1"></td><td style="width:33%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="padding-bottom:12px;text-align:left;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">Summary Prospectus and Prospectus Supplement</font></div><div style="padding-bottom:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Supplement dated March 19, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century California Tax-Free and Municipal Funds </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century ETF Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Target Maturities Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Mutual Funds, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Capital Portfolios, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century International Bond Funds</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century World Mutual Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Variable Portfolios, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Variable Portfolios II, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Government Income Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Investment Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Municipal Trust </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Quantitative Equity Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Asset Allocation Portfolios, Inc.</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Growth Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Strategic Asset Allocations, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">The following disclosure is added to the </font><font style="font-family:inherit;font-size:10pt;">Market Risk</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> in the </font><font style="font-family:inherit;font-size:10pt;">Principal Risks </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">section in each summary prospectus and prospectus, as well as the section titled </font><font style="font-family:inherit;font-size:10pt;">What are the principal risks of investing in the fund?, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">in</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">each prospectus:</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Market risks, including political, regulatory, economic and social developments, can affect the value of the fund&#8217;s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:left;font-size:14pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2" rowspan="1"></td></tr><tr><td style="width:67%;" rowspan="1" colspan="1"></td><td style="width:33%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="padding-bottom:12px;text-align:left;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">Summary Prospectus and Prospectus Supplement</font></div><div style="padding-bottom:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Supplement dated March 19, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century California Tax-Free and Municipal Funds </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century ETF Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Target Maturities Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Mutual Funds, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Capital Portfolios, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century International Bond Funds</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century World Mutual Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Variable Portfolios, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Variable Portfolios II, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Government Income Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Investment Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Municipal Trust </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Quantitative Equity Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Asset Allocation Portfolios, Inc.</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Growth Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Strategic Asset Allocations, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">The following disclosure is added to the </font><font style="font-family:inherit;font-size:10pt;">Market Risk</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> in the </font><font style="font-family:inherit;font-size:10pt;">Principal Risks </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">section in each summary prospectus and prospectus, as well as the section titled </font><font style="font-family:inherit;font-size:10pt;">What are the principal risks of investing in the fund?, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">in</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">each prospectus:</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Market risks, including political, regulatory, economic and social developments, can affect the value of the fund&#8217;s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:left;font-size:14pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2" rowspan="1"></td></tr><tr><td style="width:67%;" rowspan="1" colspan="1"></td><td style="width:33%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="padding-bottom:12px;text-align:left;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">Summary Prospectus and Prospectus Supplement</font></div><div style="padding-bottom:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Supplement dated March 19, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century California Tax-Free and Municipal Funds </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century ETF Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Target Maturities Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Mutual Funds, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Capital Portfolios, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century International Bond Funds</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century World Mutual Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Variable Portfolios, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Variable Portfolios II, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Government Income Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Investment Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Municipal Trust </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Quantitative Equity Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Asset Allocation Portfolios, Inc.</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Growth Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Strategic Asset Allocations, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">The following disclosure is added to the </font><font style="font-family:inherit;font-size:10pt;">Market Risk</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> in the </font><font style="font-family:inherit;font-size:10pt;">Principal Risks </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">section in each summary prospectus and prospectus, as well as the section titled </font><font style="font-family:inherit;font-size:10pt;">What are the principal risks of investing in the fund?, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">in</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">each prospectus:</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Market risks, including political, regulatory, economic and social developments, can affect the value of the fund&#8217;s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:left;font-size:14pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2" rowspan="1"></td></tr><tr><td style="width:67%;" rowspan="1" colspan="1"></td><td style="width:33%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="padding-bottom:12px;text-align:left;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">Summary Prospectus and Prospectus Supplement</font></div><div style="padding-bottom:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Supplement dated March 19, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century California Tax-Free and Municipal Funds </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century ETF Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Target Maturities Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Mutual Funds, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Capital Portfolios, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century International Bond Funds</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century World Mutual Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Variable Portfolios, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Variable Portfolios II, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Government Income Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Investment Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Municipal Trust </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Quantitative Equity Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Asset Allocation Portfolios, Inc.</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Growth Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Strategic Asset Allocations, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">The following disclosure is added to the </font><font style="font-family:inherit;font-size:10pt;">Market Risk</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> in the </font><font style="font-family:inherit;font-size:10pt;">Principal Risks </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">section in each summary prospectus and prospectus, as well as the section titled </font><font style="font-family:inherit;font-size:10pt;">What are the principal risks of investing in the fund?, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">in</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">each prospectus:</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Market risks, including political, regulatory, economic and social developments, can affect the value of the fund&#8217;s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:left;font-size:14pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2" rowspan="1"></td></tr><tr><td style="width:67%;" rowspan="1" colspan="1"></td><td style="width:33%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="padding-bottom:12px;text-align:left;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">Summary Prospectus and Prospectus Supplement</font></div><div style="padding-bottom:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Supplement dated March 19, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century California Tax-Free and Municipal Funds </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century ETF Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Target Maturities Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Mutual Funds, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Capital Portfolios, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century International Bond Funds</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century World Mutual Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Variable Portfolios, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Variable Portfolios II, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Government Income Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Investment Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Municipal Trust </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Quantitative Equity Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Asset Allocation Portfolios, Inc.</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Growth Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Strategic Asset Allocations, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">The following disclosure is added to the </font><font style="font-family:inherit;font-size:10pt;">Market Risk</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> in the </font><font style="font-family:inherit;font-size:10pt;">Principal Risks </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">section in each summary prospectus and prospectus, as well as the section titled </font><font style="font-family:inherit;font-size:10pt;">What are the principal risks of investing in the fund?, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">in</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">each prospectus:</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Market risks, including political, regulatory, economic and social developments, can affect the value of the fund&#8217;s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:left;font-size:14pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2" rowspan="1"></td></tr><tr><td style="width:67%;" rowspan="1" colspan="1"></td><td style="width:33%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="padding-bottom:12px;text-align:left;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">Summary Prospectus and Prospectus Supplement</font></div><div style="padding-bottom:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Supplement dated March 19, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century California Tax-Free and Municipal Funds </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century ETF Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Target Maturities Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Mutual Funds, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Capital Portfolios, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century International Bond Funds</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century World Mutual Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Variable Portfolios, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Variable Portfolios II, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Government Income Trust</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Investment Trust </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Municipal Trust </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Quantitative Equity Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Asset Allocation Portfolios, Inc.</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">American Century Growth Funds, Inc. </font><font style="font-family:Wingdings;font-size:12pt;font-weight:bold;">n</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;"> American Century Strategic Asset Allocations, Inc. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;font-size:6pt;"><font style="font-family:Arial Narrow;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">The following disclosure is added to the </font><font style="font-family:inherit;font-size:10pt;">Market Risk</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> in the </font><font style="font-family:inherit;font-size:10pt;">Principal Risks </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">section in each summary prospectus and prospectus, as well as the section titled </font><font style="font-family:inherit;font-size:10pt;">What are the principal risks of investing in the fund?, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">in</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">each prospectus:</font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:0px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Market risks, including political, regulatory, economic and social developments, can affect the value of the fund&#8217;s investments. 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Mar. 19, 2020
AMERICAN CENTURY CALIFORNIA TAX FREE & MUNICIPAL FUNDS
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
American Century ETF Trust
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
American Century Target Maturities Trust
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
American Century Mutual Funds, Inc
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
American Century Capital Portfolios Prospectus
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
American Century International Bond Fund
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
AMERICAN CENTURY WORLD MUTUAL FUNDS INC
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
AMERICAN CENTURY VARIABLE PORTFOLIOS INC
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
AMERICAN CENTURY VARIABLE PORTFOLIOS II INC
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
American Century Government Income Trust
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
AMERICAN CENTURY INVESTMENT TRUST
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
AMERICAN CENTURY MUNICIPAL TRUST
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
American Century Quantitative Equity Funds Prospectus
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
American Century Asset Allocation Portfolio
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
American Century Growth Funds
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
AMERICAN CENTURY STRATEGIC ASSET ALLOCATIONS
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
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Label Element Value
Prospectus: rr_ProspectusTable  
Document Type dei_DocumentType 497
Document Period End Date dei_DocumentPeriodEndDate Mar. 19, 2020
Entity Registrant Name dei_EntityRegistrantName AMERICAN CENTURY MUTUAL FUNDS, INC.
Central Index Key dei_EntityCentralIndexKey 0000100334
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate Mar. 19, 2020
Document Effective Date dei_DocumentEffectiveDate Mar. 19, 2020
Prospectus Date rr_ProspectusDate Mar. 19, 2020
AMERICAN CENTURY CALIFORNIA TAX FREE & MUNICIPAL FUNDS  
Prospectus: rr_ProspectusTable  
Supplement [Text Block] ck000077367_SupplementTextBlock
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
American Century ETF Trust  
Prospectus: rr_ProspectusTable  
Supplement [Text Block] ck000077367_SupplementTextBlock
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
American Century Target Maturities Trust  
Prospectus: rr_ProspectusTable  
Supplement [Text Block] ck000077367_SupplementTextBlock
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
American Century Mutual Funds, Inc  
Prospectus: rr_ProspectusTable  
Supplement [Text Block] ck000077367_SupplementTextBlock
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
American Century Capital Portfolios Prospectus  
Prospectus: rr_ProspectusTable  
Supplement [Text Block] ck000077367_SupplementTextBlock
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
American Century International Bond Fund  
Prospectus: rr_ProspectusTable  
Supplement [Text Block] ck000077367_SupplementTextBlock
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
AMERICAN CENTURY WORLD MUTUAL FUNDS INC  
Prospectus: rr_ProspectusTable  
Supplement [Text Block] ck000077367_SupplementTextBlock
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
AMERICAN CENTURY VARIABLE PORTFOLIOS INC  
Prospectus: rr_ProspectusTable  
Supplement [Text Block] ck000077367_SupplementTextBlock
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
AMERICAN CENTURY VARIABLE PORTFOLIOS II INC  
Prospectus: rr_ProspectusTable  
Supplement [Text Block] ck000077367_SupplementTextBlock
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
American Century Government Income Trust  
Prospectus: rr_ProspectusTable  
Supplement [Text Block] ck000077367_SupplementTextBlock
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
AMERICAN CENTURY INVESTMENT TRUST  
Prospectus: rr_ProspectusTable  
Supplement [Text Block] ck000077367_SupplementTextBlock
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
AMERICAN CENTURY MUNICIPAL TRUST  
Prospectus: rr_ProspectusTable  
Supplement [Text Block] ck000077367_SupplementTextBlock
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
American Century Quantitative Equity Funds Prospectus  
Prospectus: rr_ProspectusTable  
Supplement [Text Block] ck000077367_SupplementTextBlock
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
American Century Asset Allocation Portfolio  
Prospectus: rr_ProspectusTable  
Supplement [Text Block] ck000077367_SupplementTextBlock
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
American Century Growth Funds  
Prospectus: rr_ProspectusTable  
Supplement [Text Block] ck000077367_SupplementTextBlock
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
AMERICAN CENTURY STRATEGIC ASSET ALLOCATIONS  
Prospectus: rr_ProspectusTable  
Supplement [Text Block] ck000077367_SupplementTextBlock
Summary Prospectus and Prospectus Supplement
Supplement dated March 19, 2020
 
American Century California Tax-Free and Municipal Funds n American Century ETF Trust
American Century Target Maturities Trust n American Century Mutual Funds, Inc.
American Century Capital Portfolios, Inc. n American Century International Bond Funds
American Century World Mutual Funds, Inc. n American Century Variable Portfolios, Inc.
American Century Variable Portfolios II, Inc. n American Century Government Income Trust
American Century Investment Trust n American Century Municipal Trust
American Century Quantitative Equity Funds, Inc. n American Century Asset Allocation Portfolios, Inc.
American Century Growth Funds, Inc. n American Century Strategic Asset Allocations, Inc.



The following disclosure is added to the Market Risk in the Principal Risks section in each summary prospectus and prospectus, as well as the section titled What are the principal risks of investing in the fund?, in each prospectus:

Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.
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