American Century Select High Yield ETF (AHYB) is an actively managed exchange-traded fund that seeks high current income and capital appreciation by investing primarily in high yield debt securities, including corporate bonds, notes, debentures, and other fixed-income instruments rated below investment grade or unrated securities of comparable quality; it may also allocate to bank loans, convertible securities, preferred stocks, and derivatives such as futures, options, and swaps for hedging or income enhancement. The fund employs a fundamental research-driven approach, focusing on issuers with improving fundamentals, attractive valuations, and potential for credit rating upgrades, while diversifying across sectors like energy, consumer discretionary, telecommunications, and healthcare to mitigate risk. Launched in 2023 and domiciled in the United States with American Century Investment Management, Inc. serving as the investment adviser headquartered in Kansas City, Missouri, AHYB targets income-seeking investors, financial advisors, and institutions through U.S. exchanges with global exposure to issuers worldwide. In recent developments, the ETF underwent a strategic rebranding and ticker change from American Century ETF Trust - Short Duration Strategic Income ETF (SDSI) to its current name and ticker in late 2024, reflecting an expanded focus on selective high yield opportunities amid shifting interest rate environments; it also benefited from American Century's broader platform enhancements, including new quantitative risk analytics tools integrated in early 2025 to optimize portfolio construction. No major acquisitions, funding rounds, or partnerships specific to AHYB were announced in the last 1-2 years, underscoring its operation within the stable, established framework of American Century Investments, a veteran asset manager founded in 1958 with over $290 billion in assets under management.