American Beacon Bridgeway Large Cap Value Fund
Fund
BWLYX
Price as of:
$24.60
- $0.53
- 2.11%
Primary Theme
fund company
Name
As of 04/30/2024Price
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
Vitals
YTD Return
6.7%
1 yr return
17.8%
3 Yr Avg Return
5.2%
5 Yr Avg Return
7.1%
Net Assets
$293 M
Holdings in Top 10
22.6%
52 WEEK LOW AND HIGH
$25.1
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.94%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 51.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$100,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/30/2024Price
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
BWLYX - Profile
Distributions
- YTD Total Return 6.7%
- 3 Yr Annualized Total Return 5.2%
- 5 Yr Annualized Total Return 7.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.29%
- Dividend Yield 2.1%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameAmerican Beacon Bridgeway Large Cap Value Fund
-
Fund Family NameAmerican Beacon
-
Inception DateFeb 03, 2012
-
Shares OutstandingN/A
-
Share ClassY
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJohn Montgomery
Fund Description
The Fund invests in a diversified portfolio of stocks of large capitalization companies that are listed on the New York Stock Exchange, NYSE American, or Nasdaq. Under normal market conditions, at least 80% of Fund net assets (plus borrowings for investment purposes) are invested in stocks from among those in the large-cap value category at the time of purchase. For purposes of the Fund’s investment portfolio, “large-cap stocks” are common stocks of companies whose market capitalization (stock market worth)falls within the range of the Russell 1000® Index at the time of investment. The Russell 1000 Index measures the performance of the 1,000 largest U.S. companies based on total market capitalization. As of March 31, 2024, the market capitalizations of the companies in the Russell 1000 Index ranged from $347.9 million to $3.13 trillion.
The Fund’s sub-advisor, Bridgeway Capital Management, LLC (“Bridgeway Capital”), uses a proprietary model-driven quantitative approach to selects stocks within the large-cap value category for the Fund. Value stocks are those Bridgeway Capital believes are priced cheaply relative to some financial measures of worth, such as the ratio of price to earnings, price to sales, or price to cash flow. Generally, these are stocks represented in the Russell 1000® Value Index, plus large capitalization stocks with similar “value” characteristics. The Russell 1000 Value Index includes those Russell 1000 companies with lower price-to-book ratios and lower forecasted growth values. Based on statistically driven rules, securities are sold when the reasons for selecting the stock are no longer valid or when necessary to maintain the risk profile of the overall Fund. Bridgeway Capital will not necessarily sell a stock if it “migrates” outside the market capitalization range of the Russell 1000 Index after purchase. As a result, due to such “migration” or other market movements, the Fund may have less than 80% of its assets in large-cap stocks. In addition, the Fund may invest in stocks of mid-capitalization companies at any point in time.
Bridgeway Capital’s investment process incorporates material environmental, social, and/or governance (“ESG”) information, where available, as a consideration in the assessment of potential portfolio securities. Bridgeway Capital uses ESG research and/or ratings information provided by third parties (“ESG Data”) in performing this ESG analysis and considering ESG risks. However, ESG Data may not be available for all potential portfolio investments, and Bridgeway Capital may not consider an ESG analysis for the small portion of potential portfolio investments for which ESG Data is not available. As with any consideration used in assessing portfolio securities, Bridgeway Capital may, at times, utilize ESG information to increase the weighting of an issuer with a good ESG record and/or decrease the weighting of an issuer with a poor ESG record. Additionally, Bridgeway Capital generally prohibits investments in companies that, based on Bridgeway Capital’s judgment, are involved more than minimally in: (1) Sudan operations, (2) tobacco, or (3) adult entertainment.
While the Fund is actively managed for long-term total return, Bridgeway Capital seeks to minimize capital gains distributions as part of a tax management strategy. The successful application of this method is intended to result in a more tax-efficient fund than would otherwise be the case, but this method will not be solely determinative in any investment decision made by Bridgeway Capital.
Although the Fund seeks investments across a number of sectors, from time to time, the Fund may have significant positions in particular sectors, including 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 Fund may also invest cash balances in other investment companies, including a government money market fund advised by the Manager, with respect to which the Manager receives a management fee, and may purchase and sell futures contracts, including 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.
BWLYX - Performance
Return Ranking - Trailing
| Period | BWLYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.7% | -1.7% | 13.4% | 8.63% |
| 1 Yr | 17.8% | -7.7% | 38.0% | 19.89% |
| 3 Yr | 5.2%* | -4.6% | 30.5% | 62.45% |
| 5 Yr | 7.1%* | -0.7% | 43.3% | 84.76% |
| 10 Yr | 7.5%* | 1.1% | 24.5% | 73.74% |
* Annualized
Return Ranking - Calendar
| Period | BWLYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -0.8% | -24.9% | 46.1% | 87.67% |
| 2022 | -12.1% | -64.7% | 4.6% | 50.31% |
| 2021 | 11.8% | -44.2% | 57.5% | 68.93% |
| 2020 | -12.7% | -23.2% | 285.0% | 97.08% |
| 2019 | 20.1% | -21.4% | 48.5% | 41.76% |
Total Return Ranking - Trailing
| Period | BWLYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.7% | -1.7% | 13.4% | 8.63% |
| 1 Yr | 17.8% | -7.7% | 38.0% | 19.89% |
| 3 Yr | 5.2%* | -4.6% | 30.5% | 62.45% |
| 5 Yr | 7.1%* | -0.7% | 43.3% | 84.76% |
| 10 Yr | 7.5%* | 1.1% | 24.5% | 73.74% |
* Annualized
Total Return Ranking - Calendar
| Period | BWLYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 11.2% | -15.9% | 46.7% | 49.25% |
| 2022 | -7.8% | -42.0% | 8.5% | 70.15% |
| 2021 | 22.8% | 3.6% | 129.7% | 81.16% |
| 2020 | -3.1% | -22.6% | 304.8% | 92.10% |
| 2019 | 25.1% | -12.7% | 52.1% | 56.78% |
NAV & Total Return History
BWLYX - Holdings
Concentration Analysis
| BWLYX | Category Low | Category High | BWLYX % Rank | |
|---|---|---|---|---|
| Net Assets | 293 M | 1.09 M | 163 B | 71.27% |
| Number of Holdings | 82 | 2 | 1683 | 47.69% |
| Net Assets in Top 10 | 66.7 M | 420 K | 33.9 B | 75.98% |
| Weighting of Top 10 | 22.64% | 4.8% | 99.9% | 75.68% |
Top 10 Holdings
- Charles River Laboratories International, Inc. 2.47%
- Vertiv Holdings Co. 2.40%
- Synchrony Financial 2.32%
- Applied Materials, Inc. 2.29%
- Cleveland-Cliffs, Inc. 2.27%
- Builders FirstSource, Inc. 2.25%
- Berkshire Hathaway, Inc. 2.22%
- Walmart, Inc. 2.17%
- Steel Dynamics, Inc. 2.13%
- Amgen, Inc. 2.12%
Asset Allocation
| Weighting | Return Low | Return High | BWLYX % Rank | |
|---|---|---|---|---|
| Stocks | 98.46% | 1.86% | 108.42% | 52.92% |
| Cash | 1.54% | -0.79% | 38.18% | 41.17% |
| Preferred Stocks | 0.00% | 0.00% | 13.88% | 56.92% |
| Convertible Bonds | 0.00% | 0.00% | 3.66% | 54.36% |
| Bonds | 0.00% | -0.71% | 73.23% | 55.79% |
| Other | 0.00% | -1.68% | 39.72% | 97.04% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | BWLYX % Rank | |
|---|---|---|---|---|
| Financial Services | 22.94% | 0.00% | 58.05% | 18.84% |
| Healthcare | 15.09% | 0.00% | 30.08% | 74.76% |
| Industrials | 14.36% | 0.00% | 42.76% | 16.83% |
| Consumer Defense | 10.52% | 0.00% | 34.10% | 26.12% |
| Technology | 9.91% | 0.00% | 54.02% | 55.30% |
| Consumer Cyclical | 7.10% | 0.00% | 22.74% | 34.36% |
| Communication Services | 6.70% | 0.00% | 26.58% | 34.62% |
| Energy | 5.77% | 0.00% | 54.00% | 76.16% |
| Basic Materials | 3.37% | 0.00% | 21.69% | 49.17% |
| Real Estate | 2.35% | 0.00% | 90.54% | 55.48% |
| Utilities | 1.90% | 0.00% | 27.04% | 81.42% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | BWLYX % Rank | |
|---|---|---|---|---|
| US | 98.46% | 1.86% | 108.42% | 42.47% |
| Non US | 0.00% | 0.00% | 26.07% | 68.84% |
BWLYX - Expenses
Operational Fees
| BWLYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.94% | 0.03% | 14.82% | 54.85% |
| Management Fee | 0.73% | 0.00% | 1.50% | 70.15% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 9.92% |
| Administrative Fee | N/A | 0.00% | 0.50% | 93.39% |
Sales Fees
| BWLYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.00% | 5.75% | N/A |
| Deferred Load | N/A | 0.95% | 5.00% | N/A |
Trading Fees
| BWLYX 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.
| BWLYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 51.00% | 0.00% | 488.00% | 66.33% |
BWLYX - Distributions
Dividend Yield Analysis
| BWLYX | Category Low | Category High | BWLYX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.06% | 0.00% | 36.56% | 5.13% |
Dividend Distribution Analysis
| BWLYX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Quarterly | Monthly | Quarterly |
Net Income Ratio Analysis
| BWLYX | Category Low | Category High | BWLYX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.29% | -1.51% | 4.28% | 52.49% |
Capital Gain Distribution Analysis
| BWLYX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 22, 2023 | $2.772 | OrdinaryDividend |
| Dec 23, 2022 | $1.121 | OrdinaryDividend |
| Dec 21, 2018 | $0.447 | OrdinaryDividend |
| Dec 22, 2017 | $0.370 | OrdinaryDividend |
| Dec 23, 2016 | $0.331 | OrdinaryDividend |
| Dec 23, 2015 | $0.297 | OrdinaryDividend |
| Dec 23, 2014 | $0.166 | OrdinaryDividend |
| Dec 23, 2013 | $0.100 | OrdinaryDividend |
| Dec 21, 2012 | $0.291 | OrdinaryDividend |
BWLYX - Fund Manager Analysis
Managers
John Montgomery
Start Date
Tenure
Tenure Rank
Oct 31, 2003
18.59
18.6%
John, CIO and President,founded Bridgeway in 1993.He worked with computer modeling and quantitative methods as a research engineer at MIT in the late 1970s. Later, as a student at Harvard, he investigated methods to apply modeling to portfolio management. He began applying these methods to his investments in 1985. Over the next 6 years, this style proved more successful than even John had expected. He left his full-time position in the transportation industry at the end of 1991 to perform full-time research on his models, study the mutual fund industry, and write a business plan for Bridgeway.
Elena Khoziaeva
Start Date
Tenure
Tenure Rank
Oct 28, 2005
16.6
16.6%
Elena Khoziaeva, CFA, is a portfolio manager and began working at Bridgeway in 1998. Her responsibilities include portfolio management, investment research, and statistical modeling. Elena earned a Bachelor of Economic Sciences from Belarussian State Economic University in Minsk and graduated with highest honors from the University of Houston with an MBA in Accounting.
Michael Whipple
Start Date
Tenure
Tenure Rank
Oct 28, 2005
16.6
16.6%
Mike Whipple, CFA, FRM, is a portfolio manager and began working for Bridgeway in 2002. His responsibilities include portfolio management, investment research, and statistical modeling. He holds a BS in Accountancy and Finance from Miami University in Ohio. Michael worked in public accounting with a focus in auditing from 1993 to 2000 before attending the University of Chicago Booth School of Business from 2000 to 2002, where he earned his MBA.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.05 | 86.59 | 8.07 | 16.42 |