The American Century Diversified Bond Fund (ADVYX) is a mutual fund that focuses on providing investors with a diversified portfolio of bonds. This fund is classified as a "Y Class" fund, which typically indicates a lower expense ratio and higher minimum investment compared to other classes. The fund is managed by American Century Investments and aims to provide a balance of income and capital appreciation through a mix of government, corporate, and international bonds. With a focus on diversification, this fund offers investors a way to potentially mitigate risk and achieve steady returns through the bond market.