Fund Evaluator:
American Beacon DevelopingWldIncFd-InvCl (AGEPX)
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Best Performing in Emerging Markets Bond Over the Last Year
| 18.7% | American Beacon DevelopingWldIncFd-InvCl (AGEPX) |
| 14.9% | Artisan Emerging Markets Debt Opp Inv (APFOX) |
| 13.9% | Fidelity Advisor New Markets Income Z (FGBMX) |
| 13.8% | Fidelity New Markets Income (FNMIX) |
| 13.7% | TCW Emerging Markets Income N (TGINX) |
Fund Details
American Beacon DevelopingWldIncFd-InvCl Overview
American Beacon DevelopingWldIncFd-InvCl (AGEPX) is an actively managed Taxable Bond Emerging Markets Bond fund. American Beacon launched the fund in 2014.
The investment seeks income with capital appreciation as a secondary objective. Under normal circumstances, the fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in investments that are economically tied to developing countries. Developing countries include all countries in the world except the countries that are classified by MSCI Inc. as “developed markets.”
About American Beacon DevelopingWldIncFd-InvCl (AGEPX)
There are 16 members of the management team with an average tenure of 6.71 years: Patrick Sporl (2019), Antoon de Klerk (2025), Kevin Daly (2018), Anthony Simond (2025), Siddharth Dahiya (2018), Anne Tingleff (2024), Lars Nielsen (2014), Christian Mejrup (2014), Kristian Wigh (2015), Paul Cavazos (2019), Sofus Asboe (2017), Colin Hamer (2019), Thys Louw (2025), Stephen Bailey-Smith (2024), Morten Bugge (2014), Edwin Gutierrez (2018). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg Global Aggregate TR Hdg USD index with a weighting of 100% and JPM EMBI Global Diversified TR USD index with a weighting of 100%. American Beacon DevelopingWldIncFd-InvCl has 261 securities in its portfolio. The top 10 holdings constitute 19.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
American Beacon DevelopingWldIncFd-InvCl is part of the Fixed Income global asset class and is within the Taxable Bond fund group. American Beacon DevelopingWldIncFd-InvCl has 83.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 88.3% (5.3% domestic bond, 83.0% foreign bond and 1.2% convertible bond). American Beacon DevelopingWldIncFd-InvCl has 10.6% of the portfolio in cash.
Assets Under Management
The fund has $183 million in total assets, which is below the $325 million average for the Emerging Markets Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
AGEPX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The American Beacon DevelopingWldIncFd-InvCl expense ratio is high compared to funds in the Emerging Markets Bond category. American Beacon DevelopingWldIncFd-InvCl has an expense ratio of 1.33%, which is 31% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. American Beacon DevelopingWldIncFd-InvCl has a portfolio turnover rate of 34%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 82% for the Emerging Markets Bond category.
Recently, in the month of June 2026, American Beacon DevelopingWldIncFd-InvCl returned 1.2%, which earned it a grade of A, as the Emerging Markets Bond category had an average return of 0.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
American Beacon DevelopingWldIncFd-InvCl has a trailing yield of 9.51%, which is above the 5.95% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
American Beacon DevelopingWldIncFd-InvCl Grades
Year to date, the fund has returned 7.6%, 4.2 percentage points better than the category, which translates into a grade of A. The fund has returned 18.7% over the past year (grade of A), 16.1% over the past three years (grade of A) and 8.4% per year over the past five years (grade of A) and 7.8% per year over the past 10 years (grade of A).
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AGEPX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| AGEPX Return (NAV) | 1.2% | 5.8% | 18.7% | 16.1% | 8.4% | 7.8% |
| AGEPX Grade | A | A | A | A | A | A |
| +/- Category | 0.6% | 1.4% | 7.7% | 6.0% | 5.4% | 4.0% |
| Emerging Markets Bond Avg | 0.7% | 4.4% | 11.0% | 10.1% | 3.0% | 3.8% |
| AGEPX Tax Cost Ratio | na | na | 3.9% | 4.2% | 3.8% | 3.5% |
AGEPX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| AGEPX Return (NAV) | 7.6% | 18.8% | 15.6% | 12.8% | -11.5% | 6.6% | 2.2% | 13.1% | -3.5% | 14.9% | 10.4% |
| AGEPX Grade | A | A | A | B | A | A | F | C | A | A | D |
| +/- Category | 4.2% | 4.9% | 9.3% | 1.2% | 3.3% | 9.5% | -3.3% | -0.1% | 1.9% | 3.6% | -1.4% |
| Emerging Markets Bond Avg | 3.4% | 13.8% | 6.3% | 11.6% | -14.8% | -2.9% | 5.5% | 13.1% | -5.4% | 11.2% | 11.9% |
| Risk Measures | |
| Standard Deviation: | 5.3% |
| Total Risk Index: | 0.43 - Low |
| Category Risk Index: | 0.84 - Below Average |
| Category Risk Grade: | B (20% Rank) |
| Beta: | 0.39 |
| R-Squared: | 17% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 9.5% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1809 Mil |
| Fund Total Assets: | $ 184 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 34% |
Management Team
| Number of Managers: 16 | |||
| Longest Tenure: 12.4 years | |||
| Average Tenure: 6.7 years | |||
| Managers (Year): Nielsen Lars (2014), Mejrup Christian (2014), Bugge Morten (2014), Wigh Kristian (2015), Asboe Sofus (2017), Dahiya Siddharth (2018), Gutierrez Edwin (2018), Daly Kevin (2018), Sporl Patrick (2019), Cavazos Paul (2019), Hamer Colin (2019), Tingleff Anne (2024), Bailey-Smith Stephen (2024), Simond Anthony (2025), de Klerk Antoon (2025), Louw Thys (2025) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 261 |
| % in Top 10 Holdings: | 19.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 83.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 5.3% |
| Foreign Bond: | 83.0% |
| Convertible Bond: | 1.2% |
| Other: | 0.0% |
| Cash: | 10.6% |
Purchase Information
| Fund Family: | American Beacon |
| Phone Number: | 800-658-5811 |
| Website: | www.americanbeaconfunds.com |
| Status: | Open |
| Inception Date: | February 25, 2014 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.33% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.01% |
| Share Class: | American Beacon DevelopingWldIncFd-R5Cl |
| Min. Subsequent Purchase: | $ 250 |
| Min. Subsequent IRA Purchase: | $ 0 |
