American Beacon SiM High Yield Opportunities Fund
AMERICAN BEACON FUNDS · 5 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
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
Fund profile
As filed in the prospectus · 2025 Q4
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.
| Share class | Gross | Net |
|---|---|---|
| SHOAX | 1.11% | 1.07% |
| SHOCX | 1.85% | 1.81% |
| SHOIX | 0.78% | 0.74% |
| SHOYX | 0.86% | 0.75% |
| SHYPX | 1.14% | 1.10% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 41.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| 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.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| International | 34.5% |
| Other | 24.0% |
| Industrials | 10.4% |
| Financials | 10.2% |
| 6 smaller | 20.9% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: UPSTART HOLDINGS INC, FIRSTCASH INC, BORR DRILLING LTD, SERICA ENERGY PLC, PIONEER OPCO LLC, BORR IHC LTD / BORR FIN, MOOG INC, KISTOS HOLDINGS
Largest exited: FIRSTCASH INC, BORR DRILLING LTD, GREYSTAR REAL ESTATE PAR, TELEFLEX INC, ENCOMPASS HEALTH CORP, SEALED AIR CORP, 180 MEDICAL INC, SCIENCE APPLICATIONS INT
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +10.90% | +31.19% | +31.28% | 2.59% | -1.81% | |
| +10.15% | +28.34% | +26.59% | 2.54% | -1.90% | |
| +11.25% | +32.45% | +33.44% | 2.64% | -1.74% | |
| +11.23% | +32.42% | +33.59% | 2.62% | -1.74% | |
| +10.89% | +30.97% | +31.27% | 2.65% | -1.92% |
These classes hold the same portfolio, so the 7.00pp spread over 5 years is the cost difference between them — roughly 1.40pp a year — not a difference in what they own.
May 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
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.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | CERDIA FINANZ GMBH9.38% · due 2031-10-03 | 1.64% | $39.17M | — |
| — | SELECT MEDICAL CORP6.25% · due 2032-12-01 | 1.60% | $38.23M | — |
| — | UPSTART HOLDINGS INC0.00% · due 2032-02-15 | 1.53% | $36.55M | — |
| — | FIRSTCASH INC6.13% · due 2034-05-01 | 1.46% | $34.92M | — |
| — | The GEO GROUP INC10.25% · due 2031-04-15 | 1.43% | $34.11M | — |
| — | TENET HEALTHCARE CORP5.50% · due 2032-11-15 | 1.41% | $33.72M | — |
| — | MINERVA LUXEMBOURG SA8.88% · due 2033-09-13 | 1.41% | $33.68M | — |
| — | FLUTTER TREASURY DAC5.88% · due 2031-06-04 | 1.40% | $33.40M | — |
| — | COMPOSECURE HOLDINGS LLC5.63% · due 2033-02-01 | 1.39% | $33.18M | — |
| — | American Beacon U.S. Government Money Market | 1.36% | $32.47M | — |
Top 10 positions are 14.62% of net assets, top 25 32.89%, across 104 issuers.
See more of this fund's book
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