Effective January 21, 2023, the Fund’s strategy was changed to principally invest in equity securities of small-market-capitalization companies that are economically tied to countries outside of the United States, including developed and emerging market countries, and the Fund’s benchmark index was changed from the MSCI EAFE Index to the MSCI ACWI ex-U.S. Small Cap Index.

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.

Net asset value (NAV) is the value of one share of the portfolio excluding any sales charges.
*Annualized. See the performance notes on the next page for more information.

¹The net expense ratio may reflect fees and expenses that American Beacon Advisors has contractually agreed to reduce and/or reimburse through December 31, 2025.

Important Information: All investing involves risk, including possible loss of principal. Indexes are unmanaged and one cannot invest directly in an index.

For any Class of the Fund that began operating within the 10-year/since inception period shown, the performance shown prior to the inception date of the Class is that of a class (or series of classes) previously in operation. The combined returns have not been adjusted for any difference between the fees and expenses of the Class and the historical fees and expenses of the included previous class (or classes). If the previous class(es) had lower expenses, the resulting performance would be better than the Class would have realized during the same period. If the previous class(es) had higher expenses, the resulting performance would be lower than the Class would have realized during the same period. A portion of fees charged to the R5 Class of EAM International Small Cap Fund was waived since Class inception through 2024. A portion of fees charged to the Investor Class of EAM International Small Cap Fund was waived from Fund inception through 2019 and in 2024. Performance prior to waiving fees was lower than actual returns shown for periods when fees were waived. Specific information about any Fund may be found at americanbeaconfunds.com or in the prospectus.

The MSCI ACWI (All Country World Index) ex USA Small Cap Index is a market-capitalization-weighted index designed to measure the investable equity market performance for global investors of small-cap stocks in developed and emerging markets, excluding the United States.

Certain information contained herein (the “Information”) is sourced from/copyright of MSCI Inc., MSCI ESG Research LLC, or their affiliates (“MSCI”), or information providers (together the “MSCI Parties”) and may have been used to calculate scores, signals, or other indicators. The Information is for internal use only and may not be reproduced or disseminated in whole or part without prior written permission. The Information may not be used for, nor does it constitute, an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product, trading strategy, or index, nor should it be taken as an indication or guarantee of any future performance. Some funds may be based on or linked to MSCI indexes, and MSCI may be compensated based on the fund’s assets under management or other measures. MSCI has established an information barrier between index research and certain Information. None of the Information in and of itself can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user assumes the entire risk of any use it may make or permit to be made of the Information. No MSCI Party warrants or guarantees the originality, accuracy and/or completeness of the Information and each expressly disclaims all express or implied warranties. No MSCI Party shall have any liability for any errors or omissions in connection with any Information herein, or any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

American Beacon is a registered service mark of American Beacon Advisors, Inc. American Beacon Funds and American Beacon EAM International Small Cap Fund are service marks of American Beacon Advisors, Inc.

Effective January 21, 2023, the Fund’s strategy was changed to principally invest in equity securities of small-market-capitalization companies that are economically tied to countries outside of the United States, including developed and emerging market countries, and the Fund’s benchmark index was changed from the MSCI EAFE Index to the MSCI ACWI ex-U.S. Small Cap Index.

The P/E Ratio of a stock is calculated by dividing the current price by forecasted 12-month earnings per share. The P/B Ratio of a stock is calculated by dividing the current price by book value per share. R-squared (R2) is the percentage of the Fund’s three-year return that is explained by movements in its benchmark index. Alpha is a measure of the Fund’s expected performance versus the benchmark, adjusted for relative risk. Beta is a measure of the Fund’s volatility versus the benchmark. Sharpe Ratio is a measure of the Fund’s return per unit of total risk. Standard Deviation is a measure of the historical volatility of the Fund’s returns. Return on Equity (ROE) is net income divided by net worth. 

American Beacon is a registered service mark of American Beacon Advisors, Inc. American Beacon Funds and American Beacon EAM International Small Cap Fund are service marks of American Beacon Advisors, Inc.