American Beacon Ionic Inflation Protection ETF
The Fund’s investment objective is capital appreciation in elevated and rising inflationary environments.
as of 9/30/2026
Overview
FOCUS ON INFLATION PROTECTION
CPII seeks to provide a solution for investors who want exposure to an investment designed to profit from elevated inflation and increasing inflation expectations.
Firm inception: 2006
Portfolio managers:
- Bart Baum; industry since 1992
- Daniel Stone; industry since 1996
- Doug Fincher; industry since 1987
AN ALTERNATIVE INCOME SOLUTION TO FIGHT INFLATION
Inflation drives market volatility through interest rate uncertainty, earnings instability, and bond market fluctuations. Central banks often raise interest rates to curb inflation, making borrowing more expensive and slowing economic growth, which can trigger market swings. Higher costs also squeeze corporate profits, leading to stock price drops if businesses can’t pass expenses to consumers. Additionally, inflation erodes bond values, pushing yields up and prices down, unsettling investors. These factors combined make inflation a major source of financial market instability. A well-diversified portfolio with inflation-resistant investments can help maintain stability and long-term financial security.
| Period | Days Traded at Premium | Days Traded at Discount |
|---|---|---|
| Q4 2026 | 11 | 0 |
| Q3 2026 | 60 | 4 |
| Q2 2026 | 62 | 0 |
| Q1 2026 | 60 | 1 |
| 2025 | 172 | 78 |
| Fund Details as of 10/15/2026 | |
|---|---|
| Sub-advisor % | |
|
Ionic Capital Management LLC100% |
|
| Ticker | CPII |
| CUSIP | 02368W507 |
| ISIN | US02368W5076 |
| Exchange | NYSE Arca, Inc. |
| Inception Date | 6/28/2022 |
| Number of Holdings | 16 |
| Shares Outstanding | 600,000 |
| Expense Ratio (%) | 0.70% |
| Median Bid / Ask Spread | 0.11% |
| Premium / Discount | 0.658415% |
Performance
| as of 9/30/2026 | Cumulative | Average Annual | ||||||
|---|---|---|---|---|---|---|---|---|
| YTD | 1 MO | 3 MO | 1 YR | 3 YR | 5 YR | 10 YR | Since Inception | |
| NAV | 4.13% | 0.69% | 1.36% | 3.31% | 3.78% | N/A | N/A | 3.72% |
| Market Price | 4.56% | 0.42% | 1.73% | 3.84% | 3.91% | N/A | N/A | 3.86% |
| as of 9/30/2026 | Cumulative | Average Annual | ||||||
|---|---|---|---|---|---|---|---|---|
| YTD | 1 MO | 3 MO | 1 YR | 3 YR | 5 YR | 10 YR | Since Inception | |
| NAV | 4.13% | 0.69% | 1.36% | 3.31% | 3.78% | N/A | N/A | 3.72% |
| Market Price | 4.56% | 0.42% | 1.73% | 3.84% | 3.91% | N/A | N/A | 3.86% |
The Fund is new and has a limited operating history.
Returns for less than one year are cumulative and not annualized. Short-term performance, in particular, is not a good indication of the Fund’s future performance, and an investment should not be made based solely on returns. Net asset value (“NAV”) returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. Market price returns are based on the official closing price on the NYSE Arca, Inc. Market price performance does not represent the returns you would have received if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for market price returns. The Fund’s shares are bought and sold at current market prices (and not at NAV), and market price may differ significantly from NAV during periods of market volatility.
Portfolio
Top 10 Holdings by Percent (As of 10/15/2026)
| Ticker | Description | Weight | Market Value | CUSIP/Identifier | Shares/Quantity | Notional Value |
|---|---|---|---|---|---|---|
| TSY INFL IX N/B 07/27 0.375 | 13.42% | $1,528,542 | 9128282L3 | 1,542,156.48 | $1,528,542 | |
| TSY INFL IX N/B 04/27 0.125 | 13.34% | $1,519,633 | 91282CEJ6 | 1,533,651.76 | $1,519,633 | |
| TSY INFL IX N/B 10/27 1.625 | 12.54% | $1,428,591 | 91282CFR7 | 1,433,791.90 | $1,428,591 | |
| TSY INFL IX N/B 04/28 1.25 | 12.49% | $1,422,425 | 91282CGW5 | 1,449,448.00 | $1,422,425 | |
| TSY INFL IX N/B 01/27 0.375 | 11.89% | $1,354,131 | 912828V49 | 1,356,642.15 | $1,354,131 | |
| TSY INFL IX N/B 07/28 0.75 | 11.87% | $1,351,878 | 912828Y38 | 1,385,602.40 | $1,351,878 | |
| TSY INFL IX N/B 10/28 2.375 | 11.00% | $1,252,640 | 91282CJH5 | 1,250,191.15 | $1,252,640 | |
| TSY INFL IX N/B 01/28 0.5 | 10.34% | $1,178,139 | 9128283R9 | 1,206,670.90 | $1,178,139 | |
| U.S. GOVERNMENT MONEY MARKET S | 1.49% | $170,251 | 928EAJII9 | 170,250.83 | $170,251 | |
| B0078242 IRS USD P F 2.41550 10078242_FIX CCPINFLATIONZERO | 1.10% | $-11,375,054 | 99S2C5ND1 | -11,500,000.00 | $-11,375,054 |
Holdings are subject to change without notice. The amounts shown under Weight, Market Value and Notional Value are calculated using third-party pricing sources and do not reflect any fair valuation adjustments made by American Beacon in determining the Fund’s NAV. In addition, the values shown for holdings denominated in non-U.S. currencies may have been converted to U.S. dollars using foreign exchange rates as of a different time than used for purposes of determining the NAV.
This information must be preceded or accompanied by a prospectus or summary prospectus. Click here to view or download a prospectus or summary prospectus. Read it carefully before you invest.
The Fund is new and has a limited operating history.
For more information about the risks associated with each fund, visit the “Risk Disclaimers” page or read the prospectus.
Foreside Financial Services, LLC is the distributor of the American Beacon ETFs and is not affiliated with American Beacon or its sub-advisors. American Beacon is a registered service mark of American Beacon Advisors, Inc. American Beacon Ionic Inflation Protection ETF is a service mark of American Beacon Advisors, Inc.
Resources
Fund Literature
Regulatory Docs
Additional Resources
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within the scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of performance figures associated with its three-, five- and 10-year (if applicable) Morningstar Rating metrics.
©2026 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Contact Us
For general inquiries, contact us during business hours and we’ll get back to you quickly. Reach out today!