American Beacon NIS Core Plus Bond Fund (NISCX)
The Fund’s investment objectives are high current income and, secondarily, capital appreciation.
Overview
HEALTHY YIELD WITH DIVERSIFIED CREDIT RISK
National Investment Services of America manages predominantly fixed-income strategies that seek to provide consistent performance and downside protection. NIS has served this mission for more than 25 years by partnering with clients and consultants on their unique objectives using an agile investment process. NIS puts client needs first through employee ownership and a collaborative, team-oriented culture. At the close of 2019, NIS partnered with Resolute Investment Managers, based in Irving, Texas. The partnership ensures employee ownership will continue and that the firm’s focus will remain on clients and their needs.
Firm inception: 1993
DISTINGUISHING CHARACTERISTICS
- Collaborative team approach: The sub-advisor’s objective is to build and maintain a portfolio that represents the best relative value available, set by the Investment Strategy Committee based on the anticipated economic and market environment with input from the portfolio managers.
- Portfolio managers are sector specialists with the autonomy to perform bottom-up security analysis across their sector and trade positions.
- Research intensive: The entire capital structure of a company is considered when selecting credits to own.
- Sector exposure is benchmark agnostic.
- Duration is aligned with the Fund’s benchmark, Bloomberg U.S. Aggregate Bond Index.
| Fund Details as of 03/31/2026 | |
|---|---|
| Ticker | NISCX |
| Inception Date | 9/10/2020 |
| Fund Share Class NAV | $8.59 |
|
Total Fund Assets ($M) as of 2/28/2026 |
8.3 |
|
Share Class Assets ($M) as of 2/28/2026 |
1.1 |
| Sub-Advisor % as of 12/31/2025 | |
|
National Investment Services of America, LLC100.0%
|
|
| Benchmark(s) | |
| Bloomberg US Aggregate Bond Index | |
| CUSIP | 024526121 |
| Gross Expense Ratio (%) | 5.57% |
| Net Expense Ratio (%) 1 | 1.53% |
| Actual SEC 30-Day Yield (%) | 3.26 |
| Unsubsidized SEC 30-Day Yield (%) 2 | 0.52 |
Net asset value (NAV) is the value of one share of the portfolio excluding any sales charges.
Performance
Total Return
- Month End (as of 2/28/2026)
- Quarter End (as of 12/31/2025)
| Name/Class | QTR* | YTD* | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception |
|---|---|---|---|---|---|---|---|
| NIS Core Plus Bond Fund (C) | 1.42% | 1.80% | 5.50% | 4.78% | 0.24% | N/A | 0.09% |
| NIS Core Plus Bond Fund (C with max sales charge) | 0.42% | 0.80% | 4.50% | 4.78% | 0.24% | N/A | 0.09% |
| Bloomberg US Aggregate Bond Index | 1.60% | 1.75% | 6.26% | 5.12% | 0.42% | N/A | 0.10% |
| Name/Class | QTR* | YTD* | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception |
|---|---|---|---|---|---|---|---|
| NIS Core Plus Bond Fund (C) | 0.74% | 6.15% | 6.15% | 4.47% | -0.51% | N/A | -0.25% |
| NIS Core Plus Bond Fund (C with max sales charge) | -0.26% | 5.15% | 5.15% | 4.47% | -0.51% | N/A | -0.25% |
| Bloomberg US Aggregate Bond Index | 1.10% | 7.30% | 7.30% | 4.66% | -0.36% | N/A | -0.22% |
Performance shown is historical and is not indicative of future returns. Investment returns and principal value will vary, and shares may be worth more or less at redemption than at original purchase. Performance shown is as of date indicated, and current performance may be lower or higher than the performance data quoted. To obtain performance as of the most recent month end, click here.
*Not Annualized.
Important Information: All investing involves risk, including possible loss of principal. Indexes are unmanaged and one cannot invest directly in an index.
A portion of fees charged to each Class of NIS Core Plus Bond Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception. Specific information about any Fund may be found in Performance Disclaimers or in the prospectus.
The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market. “BLOOMBERG®” and the Bloomberg indices listed herein (the “Indices”) are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the Indices (collectively, “Bloomberg”) and have been licensed for use for certain purposes by the distributor hereof (the “Licensee”). Bloomberg is not affiliated with Licensee, and Bloomberg does not approve, endorse, review, or recommend the financial products named herein (the “Products”). Bloomberg does not guarantee the timeliness, accuracy, or completeness of any data or information relating to the Products.
Portfolio
Country Weightings
as of 12/31/2025
| United States | 96.0% |
| Canada | 1.6% |
| Ireland | 0.7% |
| United Kingdom | 0.5% |
| France | 0.3% |
| Switzerland | 0.3% |
| Australia | 0.2% |
| Germany | 0.2% |
| Brazil | 0.1% |
| Belgium | 0.1% |
Excludes cash.
Portfolio Statistics
as of 12/31/2025
| Effective Maturity (years) | 8.78 |
| Effective Duration (years) | 6.18 |
3-Year Risk Summary
as of 12/31/2025
| Standard Deviation | 5.7 |
Top Ten Holdings
as of 12/31/2025
| Holding | ||
|---|---|---|
| RCKT Mortgage Trust 2023-CES1, 6.90%, Due 04/25/33 | 1.8% | |
| Velocity Commercial Capital Loan Trust 2025-2, 5.67%, Due 04/25/55 | 1.1% | |
| Federal Home Loan Mortgage Corp., 3.50%, Due 09/01/48 | 0.9% | |
| Finance of America Structured Secs Tr, Series 2025-Pc1, 6.00%, Due 07/19/28 | 0.9% | |
| Velocity Commercial Capital Loan Trust 2024-3, 6.65%, Due 06/25/54 | 0.8% | |
| New Residential Mortgage Loan Trust 2019-6, 4.25%, Due 09/25/59 | 0.8% | |
| Finance of America Structured Securities Trust 2023-S2, 6.50%, Due 04/25/73 | 0.8% | |
| New Residential Mortgage Loan Trust 2018-4, 5.16%, Due 01/25/48 | 0.6% | |
| CIT Home Equity Loan Trust 2003-1, 5.56%, Due 09/20/32 | 0.6% | |
| Finance of America Structured Securities Trust Series 2025 S2, 3.50%, Due 07/25/75 | 0.6% | |
| Total Fund Holdings | 446 | |
Duration Distribution
as of 12/31/2025
| 0 to 2 Years | 14.6% |
| 2 to 4 Years | 16.9% |
| 4 to 6 Years | 26.7% |
| 6 to 8 Years | 19.1% |
| 8 to 10 Years | 4.2% |
| 10+ Years | 18.5% |
Asset Allocation
as of 12/31/2025
| Fixed Income | 99.3% |
| Cash | 0.7% |
Maturity Distribution
as of 12/31/2025
| 0 to 3 Years | 17.9% |
| 3 to 5 Years | 15.8% |
| 5 to 10 Years | 43.5% |
| 10 to 15 Years | 3.3% |
| 15+ Years | 19.5% |
Excludes cash.
Currency Weightings
as of 12/31/2025
| U.S. Dollar | 100% |
Credit Quality
as of 12/31/2025
| U.S. Treasury | 25.9% |
| U.S. Agency | 7.7% |
| AAA | 10.7% |
| AA | 6.7% |
| A | 9.2% |
| BBB | 13.0% |
| BB | 8.7% |
| B | 2.8% |
| CCC | 1.1% |
| Not Rated | 14.2% |
Reflects the rating assessed by Standard & Poor’s (S&P). Excludes cash.
The use of fixed-income securities entails interest rate and credit risks. Investments in high-yield securities (commonly referred to as “junk bonds”), including loans, restricted securities and floating-rate securities, are subject to greater levels of credit, interest rate, market and liquidity risks than investment-grade securities. Interest rate risk is the risk that debt securities will decrease in value with increases in market interest rates. Credit risk is the risk that a debt issuer will fail to make timely payment of interest or principal; if the credit rating of an issuer declines, then the price of its debt securities may also decline. Investing in foreign markets may involve heightened risk due to currency fluctuations and economic and political risks. Geopolitical and other events have led to market disruptions causing adverse changes in the value of investments broadly. Changes in value may be temporary or may last for extended periods. The Fund may have high portfolio turnover risk, which could increase the Fund’s transaction costs and possibly have a negative impact on performance. Please see the prospectus for a complete discussion of the Fund’s risks. There can be no assurances that the investment objectives of this Fund will be met.
Duration is a measure of price sensitivity relative to changes in interest rates. Standard Deviation is a measure of the historical volatility of the Fund’s returns.
S&P credit ratings for long-term obligations (or issuers thereof) are AAA, AA, A, BBB, BB, B, CCC, CC, C and D in decreasing order. For example, obligations rated AAA are judged to be of the highest quality, BBB to be of medium grade, CCC are judged to be speculative and obligations rated D are in default. Obligations rated in one of the four highest categories are considered to be investment grade while all other ratings are considered non-investment grade.
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