Frequency content above half the sample rate cannot be represented in a sampled system (so any frequencies above SR/2 appears to be a lower frequency sine wave that goes through those same points; the result sounds like frequencies that are higher than SR/2 "reflect" about SR/2 down to a frequency that can be represented).
If you use the Wave editor to resample the waveform for a lower sample rate, it does perfect interpolation (effectively equivalent to an ideal lowpass filter) to remove any content above half the sample rate.