AHLPX vs. AHLIX

Last updated Jun 5, 2026

AHLPX (American Beacon AHL Managed Futures Strategy Fund) and AHLIX (American Beacon AHL Managed Futures Strategy Fund Class R5) are both Systematic Trend funds from American Beacon. Over the past 10 years, AHLPX returned 4.75%/yr vs 5.14%/yr for AHLIX. With a 0.99 correlation, they move nearly in lockstep. AHLPX charges 1.83%/yr vs 1.53%/yr for AHLIX.

Performance

AHLPX vs. AHLIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Beacon AHL Managed Futures Strategy Fund (AHLPX) and American Beacon AHL Managed Futures Strategy Fund Class R5 (AHLIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with AHLPX having a 12.55% return and AHLIX slightly higher at 12.80%. Over the past 10 years, AHLPX has underperformed AHLIX with an annualized return of 4.75%, while AHLIX has yielded a comparatively higher 5.14% annualized return.

AHLPX

• 1D: -0.10%
• 1M: 2.54%
• YTD: 12.55%
• 6M: 14.32%
• 1Y: 30.50%
• 3Y*: 4.64%
• 5Y*: 4.39%
• 10Y*: 4.75%

AHLIX

• 1D: -0.09%
• 1M: 2.58%
• YTD: 12.80%
• 6M: 14.69%
• 1Y: 31.10%
• 3Y*: 5.04%
• 5Y*: 4.79%
• 10Y*: 5.14%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AHLPX vs. AHLIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AHLPX American Beacon AHL Managed Futures Strategy Fund	12.55%	2.19%	1.74%	-4.20%	16.48%	4.67%	10.36%	0.09%	2.15%	4.79%
AHLIX American Beacon AHL Managed Futures Strategy Fund Class R5	12.80%	2.59%	2.07%	-3.85%	16.94%	5.09%	10.71%	0.44%	2.52%	5.23%

Correlation

The correlation between AHLPX and AHLIX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Jan 5, 2015	0.99

The correlation between AHLPX and AHLIX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

AHLPX vs. AHLIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AHLPX

AHLPX Risk / Return Rank: 87
AHLPX Sharpe Ratio Rank: 87
AHLPX Sortino Ratio Rank: 81
AHLPX Omega Ratio Rank: 79
AHLPX Calmar Ratio Rank: 96
AHLPX Martin Ratio Rank: 93

AHLIX

AHLIX Risk / Return Rank: 88
AHLIX Sharpe Ratio Rank: 89
AHLIX Sortino Ratio Rank: 82
AHLIX Omega Ratio Rank: 81
AHLIX Calmar Ratio Rank: 96
AHLIX Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AHLPX vs. AHLIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Beacon AHL Managed Futures Strategy Fund (AHLPX) and American Beacon AHL Managed Futures Strategy Fund Class R5 (AHLIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AHLPX	AHLIX	Difference
Sharpe ratio: Return per unit of total volatility	2.87	2.90	-0.03
Sortino ratio: Return per unit of downside risk	3.87	3.88	-0.01
Omega ratio: Gain probability vs. loss probability	1.52	1.53	0.00
Calmar ratio: Return relative to maximum drawdown	6.19	6.42	-0.22
Martin ratio: Return relative to average drawdown	19.77	20.40	-0.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AHLPX vs. AHLIX - Sharpe Ratio Comparison

The current AHLPX Sharpe Ratio is 2.87, which is comparable to the AHLIX Sharpe Ratio of 2.90. The chart below compares the historical Sharpe Ratios of AHLPX and AHLIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AHLPX	AHLIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.87	2.90	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.50	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.54	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.47	-0.04

Drawdowns

AHLPX vs. AHLIX - Drawdown Comparison

The maximum AHLPX drawdown since its inception was -21.90%, roughly equal to the maximum AHLIX drawdown of -21.62%. Use the drawdown chart below to compare losses from any high point for AHLPX and AHLIX.

Drawdown Indicators

	AHLPX	AHLIX	Difference
Max Drawdown Largest peak-to-trough decline	-21.90%	-21.62%	-0.28%
Max Drawdown (1Y) Largest decline over 1 year	-5.02%	-4.91%	-0.11%
Max Drawdown (3Y) Largest decline over 3 years	-21.90%	-21.62%	-0.28%
Max Drawdown (5Y) Largest decline over 5 years	-21.90%	-21.62%	-0.28%
Max Drawdown (10Y) Largest decline over 10 years	-21.90%	-21.62%	-0.28%
Current Drawdown Current decline from peak	-0.10%	-0.09%	-0.01%
Average Drawdown Average peak-to-trough decline	-6.77%	-6.56%	-0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	1.54%	+0.03%

Volatility

AHLPX vs. AHLIX - Volatility Comparison

American Beacon AHL Managed Futures Strategy Fund (AHLPX) and American Beacon AHL Managed Futures Strategy Fund Class R5 (AHLIX) have volatilities of 2.34% and 2.38%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AHLPX	AHLIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.34%	2.38%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	7.62%	7.67%	-0.05%
Volatility (1Y) Calculated over the trailing 1-year period	10.83%	10.87%	-0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.65%	9.63%	+0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.51%	9.48%	+0.03%

AHLPX vs. AHLIX - Expense Ratio Comparison

AHLPX has a 1.83% expense ratio, which is higher than AHLIX's 1.53% expense ratio.

Dividends

AHLPX vs. AHLIX - Dividend Comparison

AHLPX's dividend yield for the trailing twelve months is around 7.17%, less than AHLIX's 7.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AHLIX American Beacon AHL Managed Futures Strategy Fund Class R5	7.32%	8.25%	0.55%	1.10%	17.63%	7.44%	5.33%	4.47%	1.83%	4.01%	0.00%	3.51%
AHLPX American Beacon AHL Managed Futures Strategy Fund	7.17%	8.07%	0.29%	0.63%	17.64%	7.15%	5.14%	4.17%	1.45%	4.07%	0.00%	3.40%

Frequently Asked Questions

Can I hold both AHLPX and AHLIX in my portfolio?

With a correlation of 0.99, AHLPX and AHLIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AHLPX or AHLIX?

AHLIX has higher volatility (2.38%) compared to AHLPX (2.34%). In terms of maximum drawdown, AHLPX dropped -21.90% vs AHLIX's -21.62%.

Which has better risk-adjusted returns?

AHLIX currently has the higher Sharpe Ratio (2.90 vs 2.87), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.