American Beacon SiM High Yield Opportunities Fund
Actively managed global bond fund
As of its 2026 Q2 report, American Beacon SiM High Yield Opportunities Fund held 128 positions with $2.39B in net assets. Its ten largest holdings made up 14.6% of the fund. The SHOAX share class costs 1.07% a year. Over the 12 months to May 2026, SHOAX returned 9.9%, with dividends reinvested. In 2026 Q3 it added 19 new positions and exited 20.
The Funds investment objectives are to seek high current income and, secondarily, capital appreciation.
The fund invests at least 80% of its net assets in non-investment grade debt securities rated below investment grade by major rating agencies or deemed so by its sub-advisor, Strategic Income Management, LLC, which makes day-to-day investment decisions using combined top-down and bottom-up analysis to identify sectors and companies benefiting from long-term trends and to capture value from market dislocations. The fund may also use derivatives including futures, swaps, and warrants to manage exposure to credit and interest rate risk, and may invest in foreign securities and currencies. Because performance depends on the sub-advisor's assessment of fundamental security attributes and market dynamics, results will diverge from any benchmark. The remainder of assets may be held in investment-grade fixed income, equities, and government securities.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
CERDIA FINANZ GMBH 9.38% · due 2031-10-03 | 1.64% | $39.17M | — |
SELECT MEDICAL CORP 6.25% · due 2032-12-01 | 1.60% | $38.23M | — |
UPSTART HOLDINGS INC 0.00% · due 2032-02-15 | 1.53% | $36.55M | — |
FIRSTCASH INC 6.13% · due 2034-05-01 | 1.46% | $34.92M | — |
The GEO GROUP INC 10.25% · due 2031-04-15 | 1.43% | $34.11M | — |
TENET HEALTHCARE CORP 5.50% · due 2032-11-15 | 1.41% | $33.72M | — |
MINERVA LUXEMBOURG SA 8.88% · due 2033-09-13 | 1.41% | $33.68M | — |
FLUTTER TREASURY DAC 5.88% · due 2031-06-04 | 1.40% | $33.40M | — |
COMPOSECURE HOLDINGS LLC 5.63% · due 2033-02-01 | 1.39% | $33.18M | — |
American Beacon U.S. Government Money Market | 1.36% | $32.47M | — |
All 128 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 93.95% |
| Stocks | 4.16% |
| Cash & short-term | 1.53% |
| Derivatives | -0.12% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
By sector
- International
- 35.9%
- Other
- 21.9%
- Industrials
- 10.6%
- Financials
- 9.4%
- 6 other sectors
- 22.2%
- International
- 35.9%
- Other
- 21.9%
- Industrials
- 10.6%
- Financials
- 9.4%
- Health Care
- 6.7%
- Consumer Discretionary
- 4.5%
- Information Technology
- 3.9%
- Consumer Staples
- 3.7%
- Cash
- 2.3%
- Energy
- 1.0%
How it has done
SHOAX share class · total returns with dividends reinvested
Volatility over the last 12 months: 2.68%. Past returns are a record, not a forecast.
Jun 2026 and Jul 2026 and Aug 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 5 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 1.07% | +9.87% | +31.94% | +29.88% | -1.81% | |
| 1.81% | +9.14% | +29.06% | +25.25% | -1.90% | |
| 0.74% | +10.35% | +33.35% | +32.16% | -1.74% | |
| 0.75% | +10.32% | +33.46% | +32.30% | -1.74% | |
| 1.10% | +9.98% | +31.99% | +30.00% | -1.92% |
These classes hold the same portfolio, so the 7.04pp spread over 5 years is the cost difference between them — roughly 1.41pp a year — not a difference in what they own.
Fees & fund details
American Beacon SiM High Yield Opportunities Fund is an actively managed global bond fund.
- Asset class
- Bonds
- Region
- Global
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- High yield
- Rate sensitivity
- Short duration
- Expense ratio, by class
- 0.74% – 1.81%· SHOAX 1.07%
- Portfolio turnover
- 41.00% a year · as of 2025 Q4
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
19 new· the largest 8
20 exited· the largest 8
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-05-31
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 94.2% |
| Floating rate | 3.1% |
| Zero-coupon or unclassified | 2.7% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.5% |
| 1-3y | 18.8% |
| 3-5y | 35.8% |
| 5-10y | 43.2% |
| 10y+ | 0.6% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 54% |
| Interest rates | 46% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| High yield | +3.20 yr |
| Investment grade | +0.16 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.03 yr | 1% |
| 1 yr | 0.79 yr | 28% |
| 5 yr | 1.73 yr | 61% |
| 10 yr | 0.26 yr | 9% |
| 30 yr | 0.02 yr | 1% |
| 3 mo | 0.03 yr | 1% |
| 1 yr | 0.84 yr | 25% |
| 5 yr | 1.77 yr | 53% |
| 10 yr | 0.48 yr | 14% |
| 30 yr | 0.24 yr | 7% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.03 | +0.00 | +0.03 | $134 | $6.7k |
| 1 yr | +0.79 | +0.03 | +0.81 | $8.2k | $192.3k |
| 5 yr | +1.73 | +0.10 | +1.67 | $24.5k | $399.3k |
| 10 yr | +0.26 | +0.03 | +0.46 | $6.1k | $108.7k |
| 30 yr | +0.02 | +0.00 | +0.24 | $0 | $57.1k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 2.82 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
A newer credit-spread reading (2026Q3) is on file. This page holds one quarter across every figure on it, so that one appears here next quarter.
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