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Trending ETFs

American Beacon Garcia Hamilton Quality Bond Fund

mutual fund
GHQIX
Payout Change
Pending
Price as of:
$8.42 +0.01 +0.12%
primary theme
U.S. Short-Term Bond Duration
GHQIX (Mutual Fund)

American Beacon Garcia Hamilton Quality Bond Fund

Payout Change
Pending
Price as of:
$8.42 +0.01 +0.12%
primary theme
U.S. Short-Term Bond Duration
GHQIX (Mutual Fund)

American Beacon Garcia Hamilton Quality Bond Fund

Payout Change
Pending
Price as of:
$8.42 +0.01 +0.12%
primary theme
U.S. Short-Term Bond Duration

Name

As of 05/24/2024

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

$8.42

$259 M

3.52%

$0.30

0.69%

Vitals

YTD Return

-2.7%

1 yr return

1.0%

3 Yr Avg Return

-2.7%

5 Yr Avg Return

-0.6%

Net Assets

$259 M

Holdings in Top 10

54.1%

52 WEEK LOW AND HIGH

$8.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.69%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 71.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$250,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 05/24/2024

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

$8.42

$259 M

3.52%

$0.30

0.69%

GHQIX - Profile

Distributions

  • YTD Total Return -2.7%
  • 3 Yr Annualized Total Return -2.7%
  • 5 Yr Annualized Total Return -0.6%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.10%
DIVIDENDS
  • Dividend Yield 3.5%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    American Beacon Garcia Hamilton Quality Bond Fund
  • Fund Family Name
    American Beacon
  • Inception Date
    Apr 04, 2016
  • Shares Outstanding
    N/A
  • Share Class
    R5
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Nancy Rodriguez

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in investment grade bonds. For purposes of the 80% policy, investment grade bonds include other investment grade debt securities. The Fund considers investment grade debt securities to be debt securities that are rated A-/A3 or better by S&P Global Ratings (“S&P”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch Ratings Inc. (“Fitch”).
The types of investment grade debt securities that the Fund invests in primarily include obligations of the U.S. Government, its agencies and instrumentalities, including U.S. Government-sponsored enterprises (some of which are not backed by the full faith and credit of the U.S. Government), corporate bonds, debentures, and mortgage-backed and mortgage-related securities, including mortgage pass-through securities. These types of obligations may have fixed-rate or floating-rate coupons (or variable rate coupons), which pay interest at variable rates based on a lending rate, such as  the Secured Overnight Financing Rate (“SOFR”), and are commonly referred to as fixed income securities or bonds. If an investment held by the Fund is downgraded below investment grade, the sub-advisor may sell the security or request the Manager’s permission to continue to hold the security.
In selecting investment grade debt securities within the corporate sector, the sub-advisor first focuses on the largest U.S. issuers and companies rated A-/A3 or better by at least two rating agencies. The sub-advisor then utilizes screens to identify issuers that carry high levels of unquantifiable risk that could have a financial impact on the issuers, which includes risks associated with environmental, social, and/or governance (“ESG”) considerations. This includes, but is not limited to, risks associated with foreign companies, Yankee bonds, alcohol, tobacco, gambling, and defense contractors. Issuers identified as having a higher risk profile during this stage are either excluded from further consideration or subject to further evaluation to determine their inclusion in the investableuniverse. The sub-advisor then utilizes research and/or rankings provided by one or more third parties to analyze and scale the remaining issuers based on the sustainability of their operations and their consideration of ESG principles as an integrated part of the sub-advisor’s evaluation and investment process. These investment considerations are not solely determinative in any investment decision. Thereafter, if the sub-advisor deems securities to be comparable from an investment perspective, the sub-advisor generally expects to select for the Fund’s portfolio the securities with the highest ranking consistent with the sub-advisor’s proprietary scale methodology.
Under normal circumstances, the Fund seeks to maintain a weighted-average duration that is 25% above or below the then-current duration of the Fund’s benchmark, the Bloomberg US Aggregate Bond Index (“Benchmark”). As of December 29, 2023, the Benchmark’s duration was 6.2 years, which means that the Fund’s duration would have been expected to range from approximately 4.6 years to approximately 7.7 years at that time. The Benchmark’s duration is expected to change over time and could be higher or lower at a future date, and the Fund’s duration may change accordingly. Duration is an indicator of a bond’s price sensitivity to a change in interest rates. For example, a duration of eight years means that a security’s price would be expected to decrease by approximately 8% with a 1% increase in interest rates. The Fund may invest in securities of any maturity, but typically invests in securities with maximum maturities of up to 30 years.
The sub-advisor follows a fixed income investment strategy that focuses on high current income, given its outlook for interest rates, and the preservation of capital. In selecting securities for the Fund, the sub-advisor employs a top-down approach, which includes a broad fundamental analysis of the current fixed income markets, including duration, the yield curve, and the performance of market sectors. Through this analysis, the sub-advisor creates defined parameters for the selection of investments for the Fund’s portfolio and implements a proprietary investment process comprised of qualitative and quantitative components.
The Fund may have a focused portfolio of fewer companies than other diversified funds. 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 Fund may engage in active and frequent trading of portfolio securities to achieve its principal investment strategies. The Fund may invest cash balances in a government money market fund advised by the Manager, with respect to which the Manager receives a management fee.
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GHQIX - Performance

Return Ranking - Trailing

Period GHQIX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.7% -2.9% 12.4% 99.45%
1 Yr 1.0% 0.2% 26.7% 99.08%
3 Yr -2.7%* -6.3% 4.3% 98.87%
5 Yr -0.6%* -4.2% 4.7% 99.00%
10 Yr N/A* -19.2% 169.7% N/A

* Annualized

Return Ranking - Calendar

Period GHQIX Return Category Return Low Category Return High Rank in Category (%)
2023 1.7% -1.6% 7.6% 54.60%
2022 -11.9% -17.7% -2.6% 96.07%
2021 -3.4% -4.0% 4.4% 98.84%
2020 1.2% -7.1% 7.6% 75.49%
2019 1.9% -2.3% 9.3% 51.02%

Total Return Ranking - Trailing

Period GHQIX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.7% -2.9% 12.4% 99.45%
1 Yr 1.0% 0.2% 26.7% 99.08%
3 Yr -2.7%* -6.3% 4.3% 98.87%
5 Yr -0.6%* -4.2% 4.7% 99.00%
10 Yr N/A* -19.2% 169.7% N/A

* Annualized

Total Return Ranking - Calendar

Period GHQIX Return Category Return Low Category Return High Rank in Category (%)
2023 5.8% 1.8% 15.2% 41.73%
2022 -9.6% -17.3% -1.3% 97.76%
2021 -1.8% -2.7% 7.7% 97.88%
2020 4.9% -2.4% 14.5% 33.60%
2019 4.6% 0.6% 12.6% 51.02%

NAV & Total Return History


GHQIX - Holdings

Concentration Analysis

GHQIX Category Low Category High GHQIX % Rank
Net Assets 259 M 14.5 K 57.3 B 76.92%
Number of Holdings 29 2 9251 91.94%
Net Assets in Top 10 141 M 993 K 6.33 B 63.00%
Weighting of Top 10 54.12% 2.1% 108.7% 8.97%

Top 10 Holdings

  1. U.S. Treasury Notes 9.63%
  2. U.S. Treasury Notes 9.15%
  3. U.S. Treasury Bonds 6.72%
  4. Federal Home Loan Mortgage Corp. 4.27%
  5. Federal Home Loan Mortgage Corp. 4.22%
  6. Federal Home Loan Mortgage Corp. 4.13%
  7. Federal National Mortgage Association 4.03%
  8. Federal Home Loan Mortgage Corp. 4.02%
  9. Federal Home Loan Mortgage Corp. 3.99%
  10. Federal Home Loan Mortgage Corp. 3.97%

Asset Allocation

Weighting Return Low Return High GHQIX % Rank
Bonds
99.08% 0.00% 130.36% 6.59%
Convertible Bonds
4.54% 0.00% 27.71% 18.90%
Cash
0.92% -20.59% 62.18% 71.06%
Stocks
0.00% 0.00% 103.64% 27.11%
Preferred Stocks
0.00% 0.00% 22.27% 21.25%
Other
0.00% -0.97% 72.36% 79.67%

Bond Sector Breakdown

Weighting Return Low Return High GHQIX % Rank
Securitized
48.22% 0.00% 97.27% 10.28%
Corporate
25.69% 0.00% 100.00% 73.94%
Government
22.61% 0.00% 73.63% 40.18%
Derivative
0.00% -0.55% 28.01% 41.03%
Cash & Equivalents
0.00% 0.00% 62.18% 88.28%
Municipal
0.00% 0.00% 17.46% 55.60%

Bond Geographic Breakdown

Weighting Return Low Return High GHQIX % Rank
US
99.08% 0.00% 130.36% 6.59%
Non US
0.00% 0.00% 83.16% 22.89%

GHQIX - Expenses

Operational Fees

GHQIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.69% 0.01% 3.24% 48.99%
Management Fee 0.55% 0.00% 1.19% 90.84%
12b-1 Fee 0.00% 0.00% 1.00% 0.36%
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

GHQIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.50% 4.00% N/A

Trading Fees

GHQIX 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.

GHQIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 71.00% 2.00% 500.00% 44.79%

GHQIX - Distributions

Dividend Yield Analysis

GHQIX Category Low Category High GHQIX % Rank
Dividend Yield 3.52% 0.00% 11.11% 45.60%

Dividend Distribution Analysis

GHQIX Category Low Category High Category Mod
Dividend Distribution Frequency None Quarterly Monthly Monthly

Net Income Ratio Analysis

GHQIX Category Low Category High GHQIX % Rank
Net Income Ratio -0.10% -1.27% 4.98% 97.00%

Capital Gain Distribution Analysis

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

Distributions History

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GHQIX - Fund Manager Analysis

Managers

Nancy Rodriguez


Start Date

Tenure

Tenure Rank

Apr 04, 2016

6.16

6.2%

Ms. Rodriguez received a B.S. in Biology from the University of Houston in 1987. After graduating, she joined the investment firm Daniel Breen & Co., L.P. in Houston, Texas where she worked from 1987 to 1998. During her time with Daniel Breen, she held several positions including Trader’s Assistant working with both equity and fixed income securities, Research Assistant and Portfolio Administrator. Ms. Rodriguez joined Garcia Hamilton & Associates in 1998 as a Fixed Income Administrator. She initially served as a Trader’s Assistant and Portfolio Administrator. When Gilbert Garcia joined the firm in 2002 to manage the Fixed Income strategies, Ms. Rodriguez was designated to assist in building the bond business as a Fixed Income Trader, and later, a Fixed Income Analyst. Ms. Rodriguez was promoted to Fixed Income Portfolio Manager in 2010 and became a partner of the firm in 2014. She currently oversees the fixed income trading desk.

Gilbert Garcia


Start Date

Tenure

Tenure Rank

Apr 04, 2016

6.16

6.2%

Mr. Garcia received a B.A. in Economics from Yale University. After graduating in 1985, he joined Salomon Brothers in New York City where he became a Vice President specializing in mortgage-backed securities. In 1990, he joined former Mayor Henry Cisneros to build Cisneros Asset Management Company, ultimately becoming its President. In 2002, he joined Garcia Hamilton & Associates and is the firm’s Managing Partner. Under his leadership, the firm grew from $200 million in fixed income assets under management to over $16.4 billion as of October 2020. GH&A has received numerous industry recognitions. Most recently in 2019 Houston Business Journal recognized Mr. Garcia among Houston’s Top CEOs, as well as being ranked among their Best Places to Work in 2018. The firm also received Pensions & Investments’ Best Places to Work in Money Management for the fourth year in a row (2019, 2018, 2017, 2016). Emerging Manager Monthly awarded the firm Fixed Income Manager of the Year for the third time (2019, 2018 and 2010). Other past awards include FundMap’s 2018 US Fixed Income Manager, Institutional Investor’s Intermediate-Term Fixed Income Manager of the Year in 2016 and 2015, as well as their 2014 Fixed Income Investment Grade Manager of the Year. During the recent COVID-19 crisis, Mr. Garcia and GH&A have donated over 30,000 masks along with hand sanitizer and disinfectant wipes to various organizations. Mr. Garcia is proud to serve on two SEC advisory boards: SEC’s Fixed Income Market Structure Advisory Board and SEC’s Asset Management Advisory Committee where he leads a subcommittee focused on Diversity and Inclusion. He currently serves as a member of the Board of Trustees for Dallas Police & Fire Pension System and serves with Chairman Henry Kravis on the Board of Directors of SEO, a non-profit providing summer internships on Wall Street for minority undergraduates. Additionally, in 2018 he was co-chair for the Susan G. Komen Race for the Cure. The same year, he was also awarded “Male Entrepreneur of the Year 2018” by the Houston Hispanic Chamber of Commerce. In 2015, Mr. Garcia was awarded the SEO Alumni Leadership Award alongside other honorees, including the former mayor of New York City, Michael R. Bloomberg, and Co-Founder & Co-CEO of The Carlyle Group, David M. Rubenstein.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 28.77 6.17 2.41