American Beacon DoubleLine Floating Rate Fund (ADLIX)
The Fund seeks to provide a high level of current income consistent with strong, risk-adjusted returns.
Overview
SEEKING RESILIENCY THROUGH FLOATING RATES
The Fund invests primarily in floating-rate instruments of U.S. and foreign corporate issuers that are broadly diversified across industries and sectors. It applies a value-oriented, research-intensive approach to credit investing that is both bottom-up and top-down, and seeks to manage credit and default risk. The Fund also strives to generate attractive, risk-adjusted returns through active management and a highly discerning, nimble investment selection process.
The Fund pursues:
- Attractive Yield: The Fund seeks floating-rate instruments of U.S. corporate issuers, broadly diversified across industry and sector.
- A value-oriented, research-intensive approach: The sub-advisor’s approach to credit investing is both bottom-up and top-down, with the goal of minimizing credit and default risks.
- Alpha generation: The Fund’s active management includes a highly nimble investment selection process.
The Fund is sub-advised by DoubleLine Capital LP, which has expertise in corporate credit strategies. DoubleLine is a privately owned, employee-controlled asset management business founded by Jeffrey Gundlach and 45 colleagues in 2009. DoubleLine provides investment management services with a cardinal mandate: to help deliver attractive risk-adjusted returns to clients.
The DoubleLine Floating Rate team’s investment philosophy is centered on a value-driven approach that analyzes credits individually for attractive return characteristics and strong downside protection. As each credit is underwritten, the team also considers it within the broader context of the industry in which it operates, the state of the loan market generally, and the condition of the macro economy. By pairing an in-depth credit underwriting process with DoubleLine’s broader thought leadership, the team can optimize opportunistic market strategies poised for changing market dynamics.
Firm inception: 2009
Portfolio Managers:
- Robert Cohen; industry since 1996
- Philip Kenney; industry since 2005
| Fund Details as of 03/27/2026 | |
|---|---|
| Ticker | ADLIX |
| Inception Date | 2/20/2026 |
| Prior Class Inception Date | 2/1/2013 |
| Fund Share Class NAV | $8.86 |
|
Total Fund Assets ($M) as of 2/28/2026 |
141.2 |
|
Share Class Assets ($M) as of 2/28/2026 |
10.6 |
| Sub-Advisor % as of | |
|
DoubleLine Capital LP100%
|
|
| Benchmark(s) | |
| S&P UBS Leveraged Loan Index | |
| CUSIP | 02452A650 |
| Gross Expense Ratio (%) | 0.75% |
| Net Expense Ratio (%) | 0.74% |
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 |
|---|---|---|---|---|---|---|---|
| DoubleLine Floating Rate Fund (R5) | -0.39% | -0.98% | 5.11% | 7.09% | 4.92% | 4.55% | 3.89% |
| S&P UBS Leveraged Loan Index | -0.41% | -1.08% | 3.88% | 7.77% | 5.73% | 5.80% | 4.83% |
| Name/Class | QTR* | YTD* | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception |
|---|---|---|---|---|---|---|---|
| DoubleLine Floating Rate Fund (R5) | 1.32% | 6.75% | 6.75% | 8.52% | 5.44% | 4.56% | 4.01% |
| S&P UBS Leveraged Loan Index | 1.19% | 5.94% | 5.94% | 9.30% | 6.37% | 5.78% | 4.98% |
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, please visit americanbeaconfunds.com or call 800.967.9009.
*Not Annualized.
Important Information: All investing involves risk, including possible loss of principal. Indexes are unmanaged and one cannot invest directly in an index.
In a reorganization that closed on February 20, 2026, the Fund acquired the DoubleLine Floating Rate Fund, and certain Classes of the Fund adopted the performance history of a corresponding class of the predecessor fund. The Y Class of the Fund adopted the performance history of the Class I shares of the predecessor fund. The Investor Class of the Fund adopted the performance history of the Class N shares of the predecessor fund.
The A, C and R5 Classes of the Fund began operations on February 23, 2026. Performance shown prior to that date for the A and C Classes is that of the Investor Class and for the R5 Class is that of the Y Class. The combined returns have not been adjusted for any difference between the fees and expenses of the newer Class and the historical fees and expenses of the older Class, except that the maximum applicable sales charge has been applied to the A and C Classes. To the extent the older Class had lower expenses, the resulting performance would be better than the newer Class would have realized during the same period. To the extent the older Class had higher expenses, the resulting performance would be lower than the newer Class would have realized during the same period.
The S&P UBS Leveraged Loan Index is an index designed to mirror the investable universe of the U.S. dollar-denominated leveraged loan market. The S&P UBS Leveraged Loan Index is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and has been licensed for use by American Beacon Advisors. S&P® is a trademark of S&P Global, Inc. or its affiliates (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); S&P Dow Jones Indices LLC are trademarks of the S&P Dow Jones Indices LLC and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by American Beacon Advisors. American Beacon Funds is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P UBS Leveraged Loan Index.
DoubleLine® is a registered trademark of DoubleLine Capital LP.
Portfolio
The use of fixed-income securities entails interest rate and credit risks. 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; the decline in an issuer’s credit rating can cause the price of its debt securities to go down. In addition, loans are subject to the risk that the Fund may not be able to obtain the collateral securing the loan in a timely manner, and the value of the collateral may not cover the amount owed on the loan. Investments in high-yield securities (commonly referred to as “junk bonds”), including loans, CLOs, restricted securities and floating-rate securities, are subject to greater levels of credit, interest rate, market and liquidity risks than investment-grade securities. Investing in foreign and emerging markets may involve heightened risk due to currency fluctuations and economic and political risks. 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.
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.
DoubleLine® is a registered trademark of DoubleLine Capital LP.
Resources
Fund Literature
Regulatory Docs
Contact Us
For general inquiries, contact us during business hours and we’ll get back to you quickly. Reach out today!