American Beacon

American Beacon NIS CORE PLUS BOND FUND

Portfolio information as of September 30, 2024

Summary
Performance
Overview

Investment Objective

The Fund’s investment objectives are high current income and, secondarily, capital appreciation.

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.

Total Fund Assets

$6.5 Million

Sub-Advisor (%)

National Investment Services of America, LLC

100.0

FUND overview flyer*

Healthy Yield With Diversified Credit Risk

*For investment professional use only. Login required.

Symbols and NAVs

Class	Symbol	NAV*
Y	NISYX	8.47
A	NISAX	8.47
C	NISCX	8.47
R6	NISRX	8.47

*NAV values as of: 12/20/2024
Historical NAVs are viewable from the Daily NAVs page.

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.

For a prospectus containing more information, including expenses, click here. Read it carefully before you invest or send money. Past performance is no guarantee of future results.

American Beacon is a registered service mark of American Beacon Advisors, Inc. American Beacon Funds and the American Beacon NIS Core Plus Bond Fund are service marks of American Beacon Advisors, Inc.

TOTAL RETURNS (%)

Share Class	Inception Date	CUSIP	Symbol	NAV	QTR*	YTD*	1 Year	3 Year	5 Year	10 Year / Since Inception*
Y	09/10/2020	024526113	NISYX	8.78	4.90	5.55	12.77	-0.58	-	-0.09
A (without max sales charge)	09/10/2020	024526139	NISAX	8.77	4.81	5.14	12.27	-0.90	-	-0.39
A (with max sales charge)	09/10/2020	024526139	NISAX	8.77	0.87	1.25	8.02	-2.16	-	-1.32
C (without max sales charge)	09/10/2020	024526121	NISCX	8.78	4.61	4.67	11.56	-1.60	-	-1.10
C (with max sales charge)	09/10/2020	024526121	NISCX	8.78	3.61	3.67	10.56	-1.60	-	-1.10
R6	09/10/2020	02452A106	NISRX	8.78	4.90	5.54	12.79	-0.51	-	-0.01

Benchmark	QTR	YTD	1 Year	3 Year*	5 Year*	Since Inception*
Bloomberg US Aggregate Bond Index	5.20	4.45	11.57	-1.39	-	-1.25

Expense Ratios (%)

Share Class	Gross	Net¹
Y	3.19	0.53
A	3.45	0.78
C	4.20	1.53
R6	3.18	0.43

SEC 30-Day Yield (%)

Share Class	Actual	Unsubsidized²
Y	4.08	0.40
A	3.68	0.34
C	3.08	-0.39
R6	4.18	0.64

Distribution Frequency

Monthly

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.
²The SEC 30-day yield is shown with and without (Unsubsidized) the effect of any waivers/reimbursements during the period.

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 at americanbeaconfunds.com 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.

TOP 10 INDUSTRY WEIGHTINGS (%)

U.S. Treasury	25.5
Asset Backed	14.5
Agency Mortgage Backed	9.8
Commercial Mortgage Backed	6.4
Non-Agency Mortgage Backed	5.7
Major Banks	4.7
Municipal	4.2
Investment Banks/Brokers	2.9
Finance/Rental/Leasing	2.6
Utilities	2.5

Excludes cash.

Portfolio Statistics

Effective Maturity (years)	8.50
Effective Duration (years)	6.00
3-Year Standard Deviation	7.20

Top 10 Holdings (%)

Finance of America Structured Securities Trust, 6.500%, Due 4/25/73	1.1
New Residential Mortgage Loan Trust, 6.019%, Due 1/25/48	1.0
U.S. Treasury Bonds, 4.625%, Due 5/15/54	1.0
Finance of America Structured Securities Trust JR2, 2.000%, Due 9/25/69	0.9
WaMu Mortgage Pass-Through Certificates Trust, 6.754%, Due 8/25/33	0.9
CIT Home Equity Loan Trust, 5.560%, Due 9/20/32	0.9
Aqua Finance Trust, 3.140%, Due 7/16/40	0.8
RCKT Mortgage Trust, 6.147%, Due 6/25/44	0.8
Velocity Commercial Capital Loan Trust, 6.650%, Due 6/25/54	0.8
Federal National Mortgage Association, 6.000%, Due 10/1/43	0.7
Total Fund Holdings	318

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.

This may contain information obtained from third parties, including ratings from credit ratings agencies such as Standard & Poor's. Reproduction and distribution of third-party content in any form is prohibited except with the prior written permission of the related third party. Third-party content providers do not guarantee the accuracy, completeness, timeliness or availability of any information, including ratings, and are not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or for the results obtained from the use of such content. THIRD-PARTY CONTENT PROVIDERS GIVE NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. THIRD-PARTY CONTENT PROVIDERS SHALL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, EXEMPLARY, COMPENSATORY, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES, COSTS, EXPENSES, LEGAL FEES OR LOSSES (INCLUDING LOST INCOME OR PROFITS AND OPPORTUNITY COSTS OR LOSSES CAUSED BY NEGLIGENCE) IN CONNECTION WITH ANY USE OF THEIR CONTENT, INCLUDING RATINGS. Credit ratings are statements of opinions and are not statements of fact or recommendations to purchase, hold or sell securities. They do not address the suitability of securities or the suitability of securities for investment purposes and should not be relied on as investment advice.

Securities of the Fund may only be sold by offering the Fund’s prospectus and summary prospectus. You should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. The prospectus and summary prospectus contain this and additional information regarding the Fund. To obtain a prospectus and summary prospectus, please contact your financial advisor, call 800.967.9009 or visit americanbeaconfunds.com. The prospectus and summary prospectus should be read carefully before investing.

Fixed Income	99.1
Cash	1.0

0 to 3 Years	19.3
3 to 5 Years	19.3
5 to 10 Years	40.6
10 to 15 Years	3.7
15+ Years	17.2

American Beacon NIS CORE PLUS BOND FUND

Portfolio information as of September 30, 2024

Investment Objective

HEALTHY YIELD WITH
DIVERSIFIED CREDIT RISK

DISTINGUISHING CHARACTERISTICS

Total Fund Assets

Sub-Advisor (%)

FUND overview flyer*

Symbols and NAVs

Quarterly
Fund Materials

QUICK LINKs

TOTAL RETURNS (%)

Expense Ratios (%)

SEC 30-Day Yield (%)

TOP 10 INDUSTRY WEIGHTINGS (%)

Portfolio Statistics

Top 10 Holdings (%)

Asset Allocation (%)

Credit Quality (%)

Maturity distribution (%)

American Beacon NIS CORE PLUS BOND FUND

Portfolio information as of September 30, 2024

Investment Objective

HEALTHY YIELD WITH DIVERSIFIED CREDIT RISK

DISTINGUISHING CHARACTERISTICS

Total Fund Assets

Sub-Advisor (%)

FUND overview flyer*

Symbols and NAVs

Quarterly Fund Materials

QUICK LINKs

TOTAL RETURNS (%)

Expense Ratios (%)

SEC 30-Day Yield (%)

TOP 10 INDUSTRY WEIGHTINGS (%)

Portfolio Statistics

Top 10 Holdings (%)

Asset Allocation (%)

Credit Quality (%)

Maturity distribution (%)

MY ACCOUNT

HEALTHY YIELD WITH
DIVERSIFIED CREDIT RISK

Quarterly
Fund Materials