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Trending ETFs

Name

As of 10/28/2022

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$11.86

$144 M

1.43%

$0.17

0.91%

Vitals

YTD Return

-36.7%

1 yr return

-1.6%

3 Yr Avg Return

13.6%

5 Yr Avg Return

7.8%

Net Assets

$144 M

Holdings in Top 10

20.7%

52 WEEK LOW AND HIGH

$11.7
$11.47
$21.17

Expenses

OPERATING FEES

Expense Ratio 0.91%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 30.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$250,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/28/2022

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$11.86

$144 M

1.43%

$0.17

0.91%

AACIX - Profile

Distributions

  • YTD Total Return -36.7%
  • 3 Yr Annualized Total Return 13.6%
  • 5 Yr Annualized Total Return 7.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.92%
DIVIDENDS
  • Dividend Yield 1.4%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    American Beacon Mid-Cap Value Fund
  • Fund Family Name
    American Beacon
  • Inception Date
    Nov 30, 2005
  • Shares Outstanding
    N/A
  • Share Class
    Retirement
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Mark Giambrone

Fund Description

Under normal circumstances, at least 80% of the Fund’s net assets (plus the amount of any borrowings for investment purposes) are invested in equity securities of middle market capitalization U.S. companies. These companies have market capitalizations within the market capitalization range of the companies in the Russell Midcap® Index at the time of investment. As of December 31, 2021, the market capitalizations of the companies in the Russell Midcap Index ranged from $163.8 million to $71.7 billion. To a lesser extent, the Fund may have exposure to issuers considered small-capitalization companies. The Fund’s investments may include common stocks, real estate investment trusts (“REITs”), American depositary receipts (“ADRs”), master limited partnerships (“MLPs”), and U.S. dollar-denominated foreign stocks traded on U.S. exchanges (collectively referred to as “stocks”).
The Manager allocates the assets of the Fund among different sub-advisors. The Manager believes that this strategy may help the Fund outperform other investment styles over the longer term while reducing volatility and downside risk.
In general, the sub-advisors select stocks that, in their opinion, have most or all of the following characteristics (relative to the Russell Midcap Index):
above-average earnings growth potential,
below-average price to earnings ratio, and
below-average price to book value ratio.
Barrow, Hanley, Mewhinney & Strauss, LLC (“Barrow Hanley”), one of the Fund’s sub-advisors, invests in medium-sized companies with low price to earnings and price to book value ratios and high dividend yields in relation to the Russell Midcap Index. Through extensive research and meetings with company management teams, Barrow Hanley seeks to identify companies that not only possess these three characteristics, but that also exhibit high or improving profitability translating into earnings growth above that of the overall Russell Midcap Index. Barrow Hanley’s portfolio will generally consist of 40 to 50 stocks.
Pzena Investment Management, LLC (“Pzena”), another one of the Fund’s sub-advisors, invests in medium-sized companies and intends to maintain a concentrated portfolio of 30 to 40 stocks selected from the most undervalued or “deep” value portion of its investment universe. Pzena looks for companies within that universe that sell for a low price relative to normal earnings (with “normal earnings” defined as a 5-year estimate of what the company should earn in a normal environment based on research of the company’s history and the history of its industry).
WEDGE Capital Management, L.L.P. (“WEDGE”), another one of the Fund’s sub-advisors, is primarily focused on identifying unrecognized value among high quality, market-leading companies, with a defendable competitive advantage, and market capitalization within the broad mid-cap market segment captured by the mid-cap Russell and S&P indices. Focusing on companies that meet initial value and financial quality parameters, research analysts employ comprehensive, qualitative and quantitative analysis, seeking stocks with unrecognized value. Areas of emphasis include independent earnings forecasts and financial statement analysis, an evaluation of free cash flow generation and return on invested capital, absolute and relative valuations, industry analysis and competitive positioning, and management capabilities and incentives.
The decision to sell a security is typically based on the belief that the company is no longer considered undervalued or shows deteriorating fundamentals, or that better investment opportunities exist in other stocks. The Fund may have significant exposure to the Financials sector. However, as the sector composition of the Fund’s portfolio changes over time, the Fund’s exposure to the Financials sector may be lower at a future date, and the Fund’s exposure to other market sectors may be higher.
The sub-advisors’ investment processes incorporate the sub-advisors’ environmental, social, and/or governance (“ESG”) analysis as a consideration in the assessment of all potential portfolio investments. However, as ESG information is just one investment consideration, ESG considerations are not solely determinative in any investment decision made by a sub-advisor. The sub-advisors do not use ESG considerations to limit, restrict or otherwise exclude companies or sectors from the Fund’s investment universe. A sub-advisor may use ESG research and/or ratings information provided by one or more third parties in performing this analysis and considering ESG risks.
The Fund may invest cash balances in other investment companies, including government money market funds, and may purchase and sell equity index futures contracts to gain market exposure on cash balances or reduce market exposure in anticipation of liquidity needs.
The Fund may seek to earn additional income by lending its securities to certain qualified broker-dealers and institutions.
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AACIX - Performance

Return Ranking - Trailing

Period AACIX Return Category Return Low Category Return High Rank in Category (%)
YTD -36.7% -38.3% 26.7% 98.79%
1 Yr -1.6% -9.6% 18.6% 75.00%
3 Yr 13.6%* 1.8% 26.9% 51.72%
5 Yr 7.8%* 2.3% 16.6% 74.49%
10 Yr 11.3%* 5.2% 14.3% 55.16%

* Annualized

Return Ranking - Calendar

Period AACIX Return Category Return Low Category Return High Rank in Category (%)
2023 15.5% -56.4% 44.9% 62.16%
2022 0.6% -49.5% 626.7% 52.01%
2021 24.6% -8.1% 35.0% 36.53%
2020 -25.6% -56.9% -7.2% 81.87%
2019 13.8% -62.6% 24.1% 10.50%

Total Return Ranking - Trailing

Period AACIX Return Category Return Low Category Return High Rank in Category (%)
YTD -36.7% -38.3% 26.7% 98.79%
1 Yr -1.6% -13.2% 56.5% 66.35%
3 Yr 13.6%* 1.8% 26.9% 46.63%
5 Yr 7.8%* 2.3% 16.6% 71.39%
10 Yr 11.3%* 5.2% 14.3% 52.51%

* Annualized

Total Return Ranking - Calendar

Period AACIX Return Category Return Low Category Return High Rank in Category (%)
2023 15.5% -56.4% 44.9% 62.25%
2022 0.6% -49.5% 626.7% 52.13%
2021 24.6% -8.1% 35.0% 36.69%
2020 -19.8% -56.9% -4.1% 64.72%
2019 17.8% -62.6% 32.7% 9.88%

NAV & Total Return History


AACIX - Holdings

Concentration Analysis

AACIX Category Low Category High AACIX % Rank
Net Assets 144 M 504 K 30.4 B 78.95%
Number of Holdings 124 9 2354 26.29%
Net Assets in Top 10 30.8 M 2.87 K 9.16 B 77.00%
Weighting of Top 10 20.69% 5.3% 99.9% 58.69%

Top 10 Holdings

  1. Future on S&P Mid 400 TR USD Mar21 5.30%
  2. Future on S&P Mid 400 TR USD Mar21 5.30%
  3. Future on S&P Mid 400 TR USD Mar21 5.30%
  4. Future on S&P Mid 400 TR USD Mar21 5.30%
  5. Future on S&P Mid 400 TR USD Mar21 5.30%
  6. Future on S&P Mid 400 TR USD Mar21 5.30%
  7. Future on S&P Mid 400 TR USD Mar21 5.30%
  8. Future on S&P Mid 400 TR USD Mar21 5.30%
  9. Future on S&P Mid 400 TR USD Mar21 5.30%
  10. Future on S&P Mid 400 TR USD Mar21 5.30%

Asset Allocation

Weighting Return Low Return High AACIX % Rank
Stocks
95.74% 85.69% 100.65% 84.27%
Cash
4.26% -0.65% 14.30% 14.32%
Preferred Stocks
0.00% 0.00% 5.42% 6.57%
Other
0.00% 0.00% 5.56% 7.28%
Convertible Bonds
0.00% 0.00% 0.02% 5.16%
Bonds
0.00% 0.00% 4.65% 7.98%

Stock Sector Breakdown

Weighting Return Low Return High AACIX % Rank
Financial Services
24.16% 0.00% 60.11% 12.21%
Industrials
18.33% 0.00% 31.72% 23.94%
Consumer Cyclical
12.38% 0.00% 29.62% 32.86%
Healthcare
8.55% 0.00% 32.47% 49.06%
Basic Materials
7.88% 0.00% 23.88% 20.89%
Energy
6.60% 0.00% 29.17% 58.45%
Utilities
6.29% 0.00% 24.69% 46.48%
Technology
5.46% 0.00% 30.07% 87.09%
Real Estate
5.36% 0.00% 74.76% 70.42%
Consumer Defense
3.85% 0.00% 33.79% 76.76%
Communication Services
1.13% 0.00% 19.80% 77.93%

Stock Geographic Breakdown

Weighting Return Low Return High AACIX % Rank
US
92.02% 55.79% 100.30% 69.95%
Non US
3.72% 0.00% 36.04% 46.24%

AACIX - Expenses

Operational Fees

AACIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.91% 0.01% 2.78% 46.93%
Management Fee 0.83% 0.00% 1.20% 87.56%
12b-1 Fee 0.00% 0.00% 1.00% 2.21%
Administrative Fee N/A 0.01% 0.40% 93.53%

Sales Fees

AACIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

AACIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

AACIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 30.00% 0.00% 473.00% 23.95%

AACIX - Distributions

Dividend Yield Analysis

AACIX Category Low Category High AACIX % Rank
Dividend Yield 1.43% 0.00% 5.47% 50.93%

Dividend Distribution Analysis

AACIX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Quarterly Annually

Net Income Ratio Analysis

AACIX Category Low Category High AACIX % Rank
Net Income Ratio 0.92% -1.84% 4.73% 40.10%

Capital Gain Distribution Analysis

AACIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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AACIX - Fund Manager Analysis

Managers

Mark Giambrone


Start Date

Tenure

Tenure Rank

Jun 30, 2004

17.93

17.9%

Mr. Giambrone joined Barrow Hanley in 1999. Prior to joining Barrow Hanley, Mr. Giambrone served as a portfolio consultant at HOLT Value Associates. During his career, he has also served as a senior auditor/tax specialist for KPMG Peat Marwick and Ernst & Young Kenneth Leventhal. Mr. Giambrone graduated summa cum laude from Indiana University with a BS in Business and received an MBA from the University of Chicago

John Carr


Start Date

Tenure

Tenure Rank

Mar 08, 2015

7.24

7.2%

Mr. Carr is an Executive Vice President at WEDGE and has been with the firm since 2011. Prior to joining WEDGE, from 2006 until 2011, Mr. Carr was a Partner and Senior Vice President at Callan Associates. Mr. Carr was also formerly associated with INVESCO Institutional, Trusco Capital Management and Watson Wyatt Worldwide.

Richard Wells


Start Date

Tenure

Tenure Rank

Mar 08, 2015

7.24

7.2%

Richard Wells, General Partner, has more than thirty-six years of investment experience and is responsible for portfolio management and client service. Prior to joining WEDGE in 2011, Mr. Wells was a Partner and Director of National Sales with DePrince, Race & Zollo, Inc., in Winter Park, Florida from 1998 to 2011. He was formerly associated with PaineWebber, Incorporated, Salomon Brothers, and the First Boston Company..

John Flynn


Start Date

Tenure

Tenure Rank

Jun 29, 2015

6.93

6.9%

John J. Flynn, Principal and Portfolio Manager. Mr. Flynn is a co-portfolio manager for the U.S. Mid Cap and Large Cap strategies, along with the Focused Value and Small Cap Focused Value services. Mr. Flynn became a member of the firm in 2005. Prior to joining Pzena Investment Management, Mr. Flynn was an associate at Weston Presidio, a middle-market private equity investment firm. He earned a B.A. in Music from Yale University and an M.B.A. with distinction from the Harvard Business School.

Paul Cavazos


Start Date

Tenure

Tenure Rank

Dec 31, 2016

5.42

5.4%

Paul B Cavazos is Chief Investment Officer and joined American Beacon Advisors and has served on the portfolio management team since 2016. Prior to joining American Beacon Advisors, Mr. Cavazos was Chief Investment Officer and Assistant Treasurer of DTE Energy from 2007 to 2016.

Benjamin Silver


Start Date

Tenure

Tenure Rank

Aug 28, 2017

4.76

4.8%

Benjamin S. Silver, CFA, CPA, Principal and Portfolio Manager. Mr. Silver serves as co-portfolio manager for the U.S. Mid Cap, Large Cap, and Global strategies, along with the Focused Value and Small Cap Focused Value services. Mr. Silver became a member of the firm in 2001. Prior to joining Pzena Investment Management, Mr. Silver was a research analyst at Levitas & Company, a value-based equity hedge fund, and a manager for Ernst & Young LLP in their Financial Services Group.

Terry Pelzel


Start Date

Tenure

Tenure Rank

Feb 28, 2018

4.25

4.3%

Mr. Pelzel has been a Portfolio Manager for this strategy since 2014 and was an Equity Analyst from 2010 to 2014. He continues to serve as an Equity Analyst on other strategies. Before joining Barrow Hanley in 2010, he served as a senior portfolio analyst for Highland Capital Management, LP

Colin Hamer


Start Date

Tenure

Tenure Rank

Mar 16, 2018

4.21

4.2%

Colin J. Hamer is Associate Portfolio Manager, and has served on the Manager’s portfolio management team since 2018. Mr. Hamer has served on the asset management team since January 2015, is a CFA® charterholder, and has earned the CAIA designation. Prior to joining the Manager, Mr. Hamer worked at Fidelity Investments in various investment-related roles from 2008 to 2014.

Michael Ritzer


Start Date

Tenure

Tenure Rank

Jan 25, 2019

3.35

3.4%

Michael D. Ritzer, CFA, General Partner, is responsible for mid cap equity research. Prior to joining WEDGE in 2010, Mr. Ritzer was a Senior Analyst at Freestyle Fund Services Company in New York, NY from 2004 to 2008. He was formerly an Investment Banking Analyst for Jefferies & Company from 2003 to 2004. Mike received his Bachelor of Science in Commerce degree with a concentration in Finance and a second major in English from the McIntire School of Commerce at the University of Virginia. He received his Master of Business Administration degree from the Darden Graduate School of Business at the University of Virginia. Mike is a member of the firm’s Investment Policy Committee.

Andrew Rosenberg


Start Date

Tenure

Tenure Rank

Nov 06, 2020

1.56

1.6%

ANDREW J. ROSENBERG, CFA, General Partner, has twenty-two years of investment experience and serves as head of large cap research and c-ohead of mid cap research. Prior to joining WEDGE in 2007, Andrew was a Vice President in the Strategic Investments Group at Bank of America where he analyzed and executed private equity transactions on behalf of the bank. He was also associated with Bank of America’s leveraged finance and syndicated loan platforms. In addition, Andrew was formerly associated with Goldman Sachs. Andrew received his Bachelor of Arts degree in English from Colgate University and his Master of Business Administration degree from Vanderbilt University. Andrew is a member of the firm’s Investment Policy Committee.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.59 8.33 10.92