American Century ETF Trust - Avantis Total Equity Markets ETF (AVTM) is an exchange-traded fund that seeks to provide investors with broad exposure to the total equity markets of developed countries worldwide by investing primarily in equity securities of companies across various market capitalizations. The fund employs a systematic, rules-based investment approach developed by Avantis Investors, a subsidiary of American Century Investments, focusing on securities that exhibit favorable valuations, profitability, and investability characteristics; it offers daily liquidity, low expense ratios, and tax-efficient share class structures designed for long-term investors including financial advisors, institutions, and individual portfolios targeting diversified global equity returns. AVTM operates within the asset management industry, serving target markets in the United States and internationally through listings on major U.S. exchanges, with geographic exposure spanning developed markets in North America, Europe, Asia-Pacific, and other regions. Established as part of the American Century ETF Trust launched in 2018 under the leadership of Avantis Investors (founded 2018 and headquartered in Mountain View, California), the fund has seen recent enhancements including expanded distribution partnerships with platforms like Schwab and Fidelity in 2025, alongside a strategic shift toward increased allocations in high-profitability small-cap segments amid market volatility; no major acquisitions or name changes have occurred in the last two years, though Avantis announced new actively managed ETF variants complementing AVTM's passive core strategy in late 2025.