American Beacon SiM High Yield Opportunities Fund (SHOIX)
The Fund’s investment objective is to seek high current income and, secondarily, capital appreciation.
Overview
HIGH YIELD MARKET VETERANS
Strategic Income Management, the Fund’s sub-advisor, is an independent employee-owned firm, specializing in high yield bond and asset allocation strategies.
- Gary Pokrzywinski, CFA, Lead Portfolio Manager; industry since 1987
- Ryan Larson, CFA, CAIA, Portfolio Manager; industry since 2008
- Kevin Power, CFA; Portfolio Manager; industry since 2016
FOCUS ON INDUSTRIES
The Fund has a long-term focus, centered on multi-year secular themes. In selecting investments for the Fund, SiM combines different aspects of top-down and bottom-up analysis.
- SiM believes understanding industry dynamics is critical to their success.
- SiM uses a defined process to evaluate out-of-favor sectors and industries. Historically, they have found the better quality company in the out-of-favor sector offers the best risk/reward value.
- The Fund may hold non-traditional high yield investments and investments across the entire capital structure of a company.
| Fund Details as of 11/14/2025 | |
|---|---|
| Ticker | SHOIX |
| Inception Date | 2/14/2011 |
| Fund Share Class NAV | $9.47 |
|
Total Fund Assets ($M) as of 10/31/2025 |
2,019.8 |
|
Share Class Assets ($M) as of 10/31/2025 |
317.6 |
| Sub-Advisor % as of 9/30/2025 | |
|
Strategic Income Management, LLC100.0%
|
|
| Benchmark(s) | |
| ICE BofA US High Yield Index | |
| CUSIP | 024524282 |
| Gross Expense Ratio (%) | 0.83% |
| Net Expense Ratio (%) 1 | 0.74% |
| Actual SEC 30-Day Yield (%) | 6.01 |
| Unsubsidized SEC 30-Day Yield (%) 2 | 5.95 |
Net asset value (NAV) is the value of one share of the portfolio excluding any sales charges.
Performance
Total Return
- Month End (as of 10/31/2025)
- Quarter End (as of 9/30/2025)
| Name/Class | QTR* | YTD* | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception |
|---|---|---|---|---|---|---|---|
| SiM High Yield Opportunities (R5) | 3.81% | 8.05% | 8.35% | 10.64% | 7.78% | 6.68% | 6.68% |
| ICE BofA US High Yield Index | 2.40% | 7.06% | 7.23% | 10.97% | 5.53% | 6.07% | 5.76% |
| Name/Class | QTR* | YTD* | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception |
|---|---|---|---|---|---|---|---|
| SiM High Yield Opportunities (R5) | 4.17% | 7.45% | 7.20% | 11.51% | 7.69% | 6.79% | 6.68% |
| ICE BofA US High Yield Index | 2.40% | 7.06% | 7.23% | 10.97% | 5.53% | 6.07% | 5.76% |
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. See the performance notes on the next page for more information.
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 SiM High Yield Opportunities Fund was waived from Fund inception through 2018, partially recovered in 2019 and waived since 2020. Performance prior to waiving fees was lower than actual returns shown for periods when waivers were in effect. A portion of fees charged to the Investor Class of SiM High Yield Opportunities Fund has been waived since 2021. Performance prior to waiving fees was lower than actual returns shown for periods when waivers were in effect. A portion of fees charged to the Y Class of SiM High Yield Opportunities Fund has been waived since 2021. Performance prior to waiving fees was lower than actual returns shown for periods when waivers were in effect. A portion of fees charged to the A Class of SiM High Yield Opportunities Fund has been waived since 2021. Performance prior to waiving fees was lower than actual returns shown for periods when waivers were in effect. A portion of fees charged to the C Class of SiM High Yield Opportunities Fund has been waived since 2021. Performance prior to waiving fees was lower than actual returns shown for periods when waivers were in effect. Specific information about any Fund may be found in Performance Disclaimers or in the prospectus.
The ICE BofA U.S. High Yield Index is a commonly used benchmark index for high yield composite bonds and is a measure of the broad high yield market.
The ICE U.S. High Yield Index is a product of ICE Data Indices, LLC and is used with permission. ICE® is a registered trademark of ICE Data Indices, LLC or its affiliates and BofA® is a registered trademark of Bank of America Corporation licensed by Bank of America Corporation and its affiliates (“BofA”), and may not be used without BofA’s prior written approval. The index data referenced herein is the property of ICE Data Indices, LLC, its affiliates (“ICE Data”) and/or its third party suppliers and, along with the ICE BofA trademarks, has been licensed for use by American Beacon Funds. ICE Data and its Third Party Suppliers accept no liability in connection with the use of such index data or marks. See prospectus for a full copy of the Disclaimer.
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 9/30/2025
| United States | 71.8% |
| Norway | 6.6% |
| Sweden | 4.5% |
| Canada | 2.5% |
| United Kingdom | 2.0% |
| Switzerland | 2.0% |
| France | 1.9% |
| Cayman Islands | 1.5% |
| Brazil | 1.4% |
| Belgium | 1.3% |
Excludes cash.
Top Ten Industry Weightings
as of 9/30/2025
| Technology Services | 9.4% |
| Financial Conglomerates | 9.3% |
| Consumer Services | 9.2% |
| Health Services | 8.4% |
| Industrial Services | 7.8% |
| Transportation | 5.9% |
| Commercial Services | 5.2% |
| Real Estate Development | 5.1% |
| Finance/Rental/Leasing | 5.0% |
| Distribution Services | 5.0% |
Portfolio Statistics
as of 9/30/2025
| Effective Maturity (years) | 4.06 |
| Effective Duration (years) | 2.87 |
3-Year Risk Summary
as of 9/30/2025
| Standard Deviation | 4.58 |
Top Ten Holdings
as of 9/30/2025
| Holding | ||
|---|---|---|
| GEO Group, Inc., 10.25%, Due 04/15/31 | 1.8% | |
| Paratus Energy Services Ltd., 9.50%, Due 06/27/29 | 1.8% | |
| Anywhere Real Estate Group LLC, 5.25%, Due 04/15/30 | 1.7% | |
| Samhallsbyggnadsbolaget I Norden Holding AB, 2.25%, Due 07/12/27 | 1.6% | |
| TreeHouse Foods, Inc., 4.00%, Due 09/01/28 | 1.6% | |
| Viridis Societe par actions simplifiee, 10.00%, Due 10/15/30 | 1.6% | |
| Tidewater Inc., 9.13%, Due 07/15/30 | 1.6% | |
| AMN Healthcare, Inc., 6.50%, Due 01/15/31 | 1.5% | |
| Cerdia Finanz GmbH, 9.38%, Due 10/03/31 | 1.5% | |
| CACI International, Inc., 6.38%, Due 06/15/33 | 1.5% | |
| Total Fund Holdings | 119 | |
Duration Distribution
as of 9/30/2025
| 0 to 2 Years | 19.1% |
| 2 to 4 Years | 63.8% |
| 4 to 6 Years | 16.2% |
| 6 to 8 Years | 0.9% |
Asset Allocation
as of 9/30/2025
| Fixed Income | 97.3% |
| Cash | 2.3% |
| Equity | 0.4% |
Maturity Distribution
as of 9/30/2025
| 0 to 3 Years | 34.5% |
| 3 to 5 Years | 48.3% |
| 5 to 10 Years | 16.2% |
| 10 to 15 Years | 0.2% |
| 15+ Years | 0.9% |
Equities and foreign exchange holdings are excluded. Excludes cash.
Currency Weightings
as of 9/30/2025
| U.S. Dollar | 92% |
| Non-U.S. Dollar | 8% |
Credit Quality
as of 9/30/2025
| BBB | 4.9% |
| BB | 46.2% |
| B | 23% |
| CCC | 7.7% |
| Not Rated | 18.3% |
Reflects the rating assessed by Standard & Poor’s (S&P). If a security is not rated by S&P, the rating represents the rating assessed by Moody’s as converted to the equivalent S&P major rating category. Excludes cash.
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. 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. To the extent the Fund invests more heavily in particular sectors, its performance will be sensitive to factors affecting those sectors. Consumer Staples companies are sensitive to commodities and energy prices, availability of underlying commodities, and government regulation. Investing in foreign and emerging markets may involve heightened risk due to currency fluctuations and economic and political risks. Derivative instruments may be highly sensitive to market factors, have less liquidity than other investments and involve the potential for losses to exceed the amount invested. 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. 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.
Resources
Fund Literature
Contact Us
For general inquiries, contact us during business hours and we’ll get back to you quickly. Reach out today!