LAPUX | Core Plus Bond Fund Class R4 | Lord Abbett
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    Core Plus Bond Fund

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    Daily price w/o sales charge as of 04/25/2025

    $12.76

    arrowUp$0.05

    YTD Returns w/o sales charge as of 04/25/2025

    1.97%

    Overall Morningstar Ratings

    Intermediate Core-Plus Bond
    as of 03/31/2025

    Morningstar rated the Lord Abbett Core Plus Bond Fund class R4 share 4 and 4 stars among 530 and 478 Intermediate Core-Plus Bond Funds for the overall rating and the 3 and 5 year periods ended 3/31/2025, respectively.

    Click here to view all legal text including risk information

    Summary

    Summary

    What is the Core Plus Bond Fund?

    The Fund seeks to deliver current income and the opportunity for capital appreciation by investing in a wide range of fixed income securities, including U.S. investment grade and high yield corporate bonds, mortgage-backed, asset-backed, and government-related securities, with select allocations to non-U.S. (including emerging market) debt securities.

    Yield

    Average Yield to Maturity as of 03/31/2025

    		5.49%

    Distribution Yield as of 04/25/2025  

    		5.31%

    30-Day Standardized Yield 1 as of 03/31/2025  

    		5.09%

    Yield to maturity (YTM) represents the expected total return on a bond (expressed as an annualized rate) based on the bond’s expected future cash flows, including coupon payments over the life of the bond and the bond’s principal value received at maturity.

    Distribution Yield is the calculation of cash flow for an investment vehicle, to calculate the distribution yield, the most recent distribution is multiplied by 12 to get an annualized total, which is then divided by the NAV.

    Fund Basicsas of 03/31/2025

    Total Net Assets
    $3.85 B
    Inception Date
    12/08/2015
    Dividend Frequency
    Monthly
    Fund Gross Expense Ratio
    0.68%
    Fund Net Expense Ratio
    0.68%
    Number of Holdings
    714

    Fund Expense Ratio :

    Gross 0.68%

    Net 0.68%

    YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
    YTD
    1-YR
    3-YR
    5-YR
    10-YR
    Since Inception 12/08/2015
    w/o sales charge 2.56% 5.79% 1.22% 1.71% -10000.0% 2.46%
    Lipper Category Avg. Core Plus Bond Funds 2.70% 5.16% 0.66% 0.86% -10000.0% -10000.0%
    Bloomberg U.S. Aggregate Bond Index 2.78% 4.88% 0.52% -0.40% -10000.0% 1.66%
    w/ sales charge 2.56% 5.79% 1.22% 1.71% -10000.0% 2.46%

    Fund Expense Ratio :

    Gross 0.68%

    Net 0.68%

    Fund Expense Ratio :

    Gross 0.68%

    Net 0.68%

    YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
    YTD
    1-YR
    3-YR
    5-YR
    10-YR
    Since Inception 12/08/2015
    w/o sales charge 2.56% 5.79% 1.22% 1.71% -10000.0% 2.46%
    Lipper Category Avg. Core Plus Bond Funds 2.70% 5.16% 0.66% 0.86% -10000.0% -10000.0%
    Bloomberg U.S. Aggregate Bond Index 2.78% 4.88% 0.52% -0.40% -10000.0% 1.66%

    Fund Expense Ratio :

    Gross 0.68%

    Net 0.68%

    Past performance is not a reliable indicator or guarantee of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. 

    Type Assets
    Investment Grade Corporate
    MBS
    U.S. Government Related
    High Yield Corporate
    ABS
    CMBS
    Bank Loans
    CLO
    Sovereign
    Other
    Cash

    The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

    Maturity Assets
    Less than 1 year
    1-3 years
    3-5 years
    5-7 years
    7-10 years
    Greater than 10 years

    The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

    Credit Quality Distribution as of 03/31/2025 View Portfolio

    Rating Assets
    U.S. Treasury
    Agency
    AAA
    AA
    A
    BBB
    <BBB
    Not Rated

    Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the median, but if there are only two ratings, the lower rating is used. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

    Investment Team

    Kewjin Yuoh
    Kewjin Yuoh

    Partner, Portfolio Manager

    31 Years of Industry Experience

    Andrew H. O'Brien
    Andrew H. O'Brien, CFA

    Partner, Portfolio Manager

    27 Years of Industry Experience

    Steven F. Rocco
    Steven F. Rocco, CFA

    Partner & Co-Head of Taxable Fixed Income

    24 Years of Industry Experience

    Robert A. Lee
    Robert A. Lee

    Partner & Co-Head of Taxable Fixed Income

    34 Years of Industry Experience

    Adam C. Castle
    Adam C. Castle, CFA

    Partner, Portfolio Manager

    17 Years of Industry Experience

    Leah G. Traub
    Leah G. Traub, Ph.D.

    Partner & Portfolio Manager

    24 Years of Industry Experience

    Harris Trifon
    Harris Trifon

    Partner, Portfolio Manager

    25 Years of Industry Experience

    Karen J. Gunnerson
    Karen J. Gunnerson

    Senior Managing Director, Portfolio Manager

    15 Years of Industry Experience

    Supported By 83 Investment Professionals with 17 Years Avg. Industry Experience

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    Performance

    Performance

    Average Yield to Maturity as of 03/31/2025

    5.49%

    Distribution Yield as of 04/25/2025  

    5.31%

    30-Day Standardized Yield 1 as of 03/31/2025  

      Subsidized2 Un-Subsidized3
    w/o sales charge 5.09% 5.09%

    Fund Expense Ratio :

    Gross 0.68%

    Net 0.68%

    YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
    YTD
    1-YR
    3-YR
    5-YR
    10-YR
    Since Inception 12/08/2015
    w/o sales charge 2.56% 5.79% 1.22% 1.71% -10000.0% 2.46%
    Lipper Category Avg. Core Plus Bond Funds 2.70% 5.16% 0.66% 0.86% -10000.0% -10000.0%
    Bloomberg U.S. Aggregate Bond Index 2.78% 4.88% 0.52% -0.40% -10000.0% 1.66%
    w/ sales charge 2.56% 5.79% 1.22% 1.71% -10000.0% 2.46%

    Fund Expense Ratio :

    Gross 0.68%

    Net 0.68%

    Fund Expense Ratio :

    Gross 0.68%

    Net 0.68%

    YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
    YTD
    1-YR
    3-YR
    5-YR
    10-YR
    Since Inception 12/08/2015
    w/o sales charge 2.56% 5.79% 1.22% 1.71% -10000.0% 2.46%
    Lipper Category Avg. Core Plus Bond Funds 2.70% 5.16% 0.66% 0.86% -10000.0% -10000.0%
    Bloomberg U.S. Aggregate Bond Index 2.78% 4.88% 0.52% -0.40% -10000.0% 1.66%

    Fund Expense Ratio :

    Gross 0.68%

    Net 0.68%

    Past performance is not a reliable indicator or guarantee of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. 

    Year Fund Returns Bloomberg U.S. Aggregate Bond Index
    Year
    Fund Returns
    Bloomberg U.S. Aggregate Bond Index
    2024 3.31% 1.25%
    2023 6.97% 5.53%
    2022 -14.02% -13.01%
    2021 0.55% -1.54%
    2020 7.16% 7.51%
    2019 9.83% 8.72%
    2018 -0.98% 0.01%
    2017 4.59% 3.54%
    2016 5.57% 2.65%
    2015 -0.59% 0.55%
    Year Q1 Q2 Q3 Q4
    Year
    Q1
    Q2
    Q3
    Q4
    2025 2.56% -10000.0% -10000.0% -10000.0%
    2024 0.16% 0.40% 5.36% -2.49%
    2023 3.13% -0.55% -2.43% 6.90%
    2022 -6.02% -6.22% -4.14% 1.77%
    2021 -2.17% 2.51% 0.15% 0.11%
    2020 -3.51% 5.57% 2.63% 2.49%
    2019 3.95% 3.24% 1.85% 0.49%
    2018 -1.28% -0.32% 0.83% -0.20%
    2017 1.46% 1.47% 1.12% 0.47%
    2016 2.41% 2.78% 2.19% -1.85%
    2015 -10000.0% -10000.0% -10000.0% -10000.0%

    Portfolio

    Portfolio

    Rating Assets
    Investment Grade Corporate
    MBS
    U.S. Government Related
    High Yield Corporate
    ABS
    CMBS
    Bank Loans
    CLO
    Sovereign
    Other
    Cash
    Rating Assets
    Less than 1 year
    1-3 years
    3-5 years
    5-7 years
    7-10 years
    Greater than 10 years

    Credit Quality Distribution as of 03/31/2025

    Rating Assets
    U.S. Treasury
    Agency
    AAA
    AA
    A
    BBB
    <BBB
    Not Rated

    Portfolio Positioningas of 03/31/2025

    • Duration positioning detracted from relative performance over the quarter. Being underweight duration versus the benchmark detracted as U.S. Treasury rates moved lower during the period.

    • An allocation to high yield corporate bonds also detracted from relative returns. We modestly increased the portfolio’s overall exposure to high yield corporates.

    • There were no other significant detractors over the period.

    • Security selection within investment grade corporate bonds contributed to relative performance, specifically within the Financials sector. We increased the portfolio’s overall exposure to investment grade corporate bonds as we believe they offer attractive relative value.

    • The portfolio’s allocation to ABS and collateralized loan obligations (CLOs) modestly contributed to relative performance. Within CLOs and ABS, we decreased the portfolio’s overall exposure, specifically within AAA-rated.

    • The portfolio’s allocation to agency mortgage-backed securities (MBS) contributed to relative performance. We believe this is an attractive asset class for high quality carry and it may perform well as rate volatility declines.

    Portfolio Details as of 03/31/2025

    Total Net Assets
    $3.85 B
    Average Effective Duration
    6.23 Years
    Average Life
    8.68 Years
    Average Maturity
    8.68 Years
    Average Modified Duration
    6.6 Years
    Number of Issues
    714
    Average Yield to Maturity
    5.49%

    To view definitions for the above Portfolio Details, Click here.

    Holding Coupon Maturity Assets
    Holding
    Coupon
    Maturity
    Assets
    United States Treasury Note/Bond 4.625% 11/15/2044 4.9%
    United States Treasury Note/Bond 4.375% 12/31/2029 4.5%
    30-YR UMBS-TBA PROD MAY 5.500% 11/01/2054 4.1%
    United States Treasury Note/Bond 4.250% 08/15/2054 2.5%
    United States Treasury Note/Bond 2.375% 02/15/2042 2.0%
    United States Treasury Note/Bond 4.250% 11/30/2026 1.9%
    15-YR UMBS-TBA PROD MAY 5.000% 10/01/2039 1.9%
    United States Treasury Note/Bond 4.125% 08/15/2044 1.9%
    15-YR UMBS-TBA PROD MAY 5.500% 05/01/2039 1.8%
    30-YR UMBS-TBA PROD MAY 5.000% 08/01/2054 1.6%
    % of Total Assets 27.1%
    Holding Coupon Maturity Assets
    Holding
    Coupon
    Maturity
    Assets
    United States Treasury Note/Bond4.375% 12/31/20294.5%
    United States Treasury Note/Bond4.250% 11/30/20263.9%
    United States Treasury Note/Bond4.625% 11/15/20443.5%
    United States Treasury Note/Bond4.125% 08/15/20443.4%
    United States Treasury Note/Bond2.375% 02/15/20422.6%
    United States Treasury Note/Bond4.250% 08/15/20542.5%
    15-YR UMBS-TBA PROD APR5.500% 05/01/20392.5%
    30-YR UMBS-TBA PROD APR5.500% 12/01/20541.9%
    30-YR UMBS-TBA PROD MAR5.500% 12/01/20541.6%
    United States Treasury Note/Bond4.500% 11/15/20541.6%
    15-YR UMBS-TBA PROD APR5.000% 11/01/20391.4%
    30-YR GNMA II-TBA PROD MAR5.500% 10/01/20541.4%
    30-YR UMBS-TBA PROD APR6.000% 06/01/20541.1%
    United States Treasury Note/Bond4.250% 11/15/20341.0%
    30-YR UMBS-TBA PROD APR5.000% 09/01/20540.9%
    30-YR GNMA II-TBA PROD APR6.000% 06/01/20540.8%
    30-YR UMBS-TBA PROD APR2.500% 05/01/20510.8%
    15-YR UMBS-TBA PROD APR6.000% 12/01/20380.7%
    30-YR GNMA II-TBA PROD MAR6.000% 06/01/20540.6%
    15-YR UMBS-TBA PROD APR2.000% 11/01/20360.6%
    J P MORGAN SECURITIES INC4.380% 03/03/20250.6%
    Aircastle Ltd6.500% 07/18/20280.6%
    30-YR GNMA II-TBA PROD MAR5.000% 09/01/20540.5%
    30-YR GNMA II-TBA PROD MAR2.000% 09/01/20510.5%
    Continental Resources Inc/OK5.750% 01/15/20310.5%
    Uber Technologies Inc4.500% 08/15/20290.4%
    Avolon TLB Borrower 1 US LLC6.073% 06/24/20300.4%
    30-YR GNMA II-TBA PROD MAR3.000% 12/01/20510.4%
    AB BSL CLO 3 Ltd5.868% 04/20/20380.4%
    30-YR GNMA II-TBA PROD MAR6.500% 04/01/20540.4%
    30-YR UMBS-TBA PROD APR4.000% 10/01/20540.4%
    Citizens Auto Receivables Trust 2023-25.830% 02/15/20280.4%
    30-YR UMBS-TBA PROD MAR3.500% 09/01/20520.4%
    15-YR UMBS-TBA PROD MAR5.000% 11/01/20390.4%
    Freddie Mac STACR REMIC Trust 2022-DNA26.752% 02/25/20420.4%
    Freddie Mac Pool6.000% 07/01/20390.4%
    Wells Fargo Commercial Mortgage Trust 2025-5C36.096% 01/15/20580.4%
    30-YR GNMA II-TBA PROD APR5.500% 10/01/20540.3%
    Morgan Stanley4.431% 01/23/20300.3%
    Imperial Brands Finance PLC6.125% 07/27/20270.3%
    Danske Bank A/S4.375% 06/12/20280.3%
    Freddie Mac Pool6.500% 11/01/20530.3%
    Emera Inc6.750% 06/15/20760.3%
    LPL Holdings Inc4.000% 03/15/20290.3%
    Avolon Holdings Funding Ltd4.250% 04/15/20260.3%
    ROCK Trust 2024-CNTR5.388% 11/13/20410.3%
    VICI Properties LP / VICI Note Co Inc3.750% 02/15/20270.3%
    Solventum Corp5.450% 03/13/20310.3%
    BBCMS Mortgage Trust 2025-5C335.839% 03/15/20580.3%
    30-YR UMBS-TBA PROD MAR6.000% 06/01/20540.3%
    Canadian Imperial Bank of Commerce6.950% 01/28/20850.3%
    JP Morgan Mortgage Trust 2021-INV63.000% 04/25/20520.3%
    Bayer US Finance LLC6.375% 11/21/20300.3%
    Fannie Mae Pool3.500% 04/01/20520.3%
    30-YR GNMA II-TBA PROD APR3.000% 12/01/20510.3%
    Barclays PLC6.496% 09/13/20270.3%
    AMMC CLO 27 Ltd5.925% 01/20/20370.3%
    Bank of America Corp3.593% 07/21/20280.3%
    Targa Resources Partners LP / Targa Resources Partners Finance Corp5.500% 03/01/20300.3%
    IPALCO Enterprises Inc4.250% 05/01/20300.3%
    30-YR UMBS-TBA PROD MAR4.000% 10/01/20540.3%
    Fannie Mae Pool2.500% 09/01/20360.3%
    Ford Motor Credit Co LLC7.350% 11/04/20270.3%
    Freddie Mac STACR REMIC Trust 2022-HQA19.602% 03/25/20420.3%
    Flutter Financing BV6.103% 11/25/20300.3%
    Enbridge Inc8.500% 01/15/20840.3%
    HAT Holdings I LLC / HAT Holdings II LLC3.375% 06/15/20260.3%
    Bank of America Corp3.970% 03/05/20290.3%
    Blue Owl Capital Corp2.625% 01/15/20270.3%
    30-YR GNMA II-TBA PROD MAR2.500% 10/01/20510.3%
    Atlassian Corp5.500% 05/15/20340.3%
    30-YR UMBS-TBA PROD APR7.000% 05/01/20530.3%
    CPS Auto Receivables Trust 2022-B7.140% 10/15/20290.3%
    Neuberger Berman Loan Advisers CLO 46 Ltd6.046% 01/20/20370.3%
    KKR CLO 35 Ltd5.917% 01/20/20380.3%
    Wells Fargo & Co2.188% 04/30/20260.3%
    Freddie Mac STACR REMIC Trust 2022-DNA16.852% 01/25/20420.3%
    Expand Energy Corp6.750% 04/15/20290.2%
    HCA Inc5.600% 04/01/20340.2%
    Stream Innovations 2024-2 Issuer Trust5.210% 02/15/20450.2%
    Bayview Opportunity Master Fund VII Trust 2024-SN18.000% 10/15/20290.2%
    RIDE 2025-SHRE5.075% 02/14/20470.2%
    Ausgrid Finance Pty Ltd4.350% 08/01/20280.2%
    Imperial Brands Finance PLC5.500% 02/01/20300.2%
    GLS Auto Select Receivables Trust 2024-35.590% 10/15/20290.2%
    30-YR UMBS-TBA PROD MAR7.000% 05/01/20530.2%
    30-YR GNMA II-TBA PROD APR5.000% 09/01/20540.2%
    Minera Mexico SA de CV5.625% 02/12/20320.2%
    Affirm Asset Securitization Trust 2024-B4.620% 09/15/20290.2%
    Citigroup Inc6.174% 05/25/20340.2%
    Foundry JV Holdco LLC5.900% 01/25/20330.2%
    Benchmark 2024-V7 Mortgage Trust6.228% 05/15/20560.2%
    AS Mileage Plan IP Ltd5.308% 10/20/20310.2%
    Bacardi Ltd / Bacardi-Martini BV5.400% 06/15/20330.2%
    Exeter Automobile Receivables Trust 2023-112.070% 09/16/20300.2%
    PNC Financial Services Group Inc/The4.812% 10/21/20320.2%
    Crown Castle Inc3.300% 07/01/20300.2%
    Ford Credit Auto Lease Trust 2024-B5.180% 02/15/20280.2%
    SBNA Auto Receivables Trust 2024-A5.320% 12/15/20280.2%
    PNC Financial Services Group Inc/The3.400% 12/15/21730.2%
    30-YR GNMA II-TBA PROD MAR4.500% 12/01/20540.2%
    Capital One Multi-Asset Execution Trust5.114% 05/15/20280.2%
    Flagstar Mortgage Trust 2021-42.500% 06/01/20510.2%
    UBS Group AG1.494% 08/10/20270.2%
    LAD Auto Receivables Trust 2024-34.600% 12/17/20290.2%
    Freddie Mac Multifamily Structured Pass Through Certificates2.920% 06/25/20320.2%
    CarMax Auto Owner Trust 2023-46.390% 05/15/20290.2%
    APA Corp4.250% 01/15/20300.2%
    Regal Rexnord Corp6.050% 02/15/20260.2%
    GXO Logistics Inc6.500% 05/06/20340.2%
    Danske Bank A/S6.259% 09/22/20260.2%
    Intel Corp4.875% 02/10/20280.2%
    MasTec Inc4.500% 08/15/20280.2%
    Hungary Government International Bond5.500% 06/16/20340.2%
    BAT Capital Corp6.343% 08/02/20300.2%
    Entergy Louisiana LLC5.700% 03/15/20540.2%
    Ford Credit Auto Lease Trust 2023-A5.540% 12/15/20260.2%
    Chile Electricity Lux Mpc II Sarl5.580% 10/20/20350.2%
    Citizens Financial Group Inc6.645% 04/25/20350.2%
    Freddie Mac Multifamily Structured Pass Through Certificates3.530% 08/25/20320.2%
    Hyundai Auto Receivables Trust 2022-C5.520% 10/16/20280.2%
    EQT Corp7.000% 02/01/20300.2%
    Freddie Mac Stacr Remic Trust 2025-Hqa15.488% 02/25/20450.2%
    HAT Holdings I LLC / HAT Holdings II LLC8.000% 06/15/20270.2%
    BMW Vehicle Lease Trust 2023-25.990% 09/25/20260.2%
    Vistra Operations Co LLC5.700% 12/30/20340.2%
    Jackson National Life Global Funding5.350% 01/13/20300.2%
    Rockford Tower CLO 2025-1 Ltd5.917% 03/31/20380.2%
    GA Global Funding Trust4.400% 09/23/20270.2%
    Cherry Securitization Trust 2024-15.700% 04/15/20320.2%
    Athene Global Funding5.620% 05/08/20260.2%
    GLS Auto Select Receivables Trust 2023-28.220% 02/18/20310.2%
    Freddie Mac Multifamily Structured Pass Through Certificates3.500% 07/25/20320.2%
    UBS Group AG5.711% 01/12/20270.2%
    US Bancorp4.839% 02/01/20340.2%
    Bank of America Corp2.087% 06/14/20290.2%
    Boeing Co/The3.100% 05/01/20260.2%
    Regatta XX Funding Ltd5.859% 01/15/20380.2%
    Freddie Mac STACR REMIC Trust 2023-HQA36.202% 11/25/20430.2%
    National Fuel Gas Co5.950% 03/15/20350.2%
    Exeter Automobile Receivables Trust 2023-39.980% 01/15/20310.2%
    Directv Financing LLC / Directv Financing Co-Obligor Inc5.875% 08/15/20270.2%
    nVent Finance Sarl4.550% 04/15/20280.2%
    Encino Acquisition Partners Holdings LLC8.750% 05/01/20310.2%
    FORTIVA RETAIL PRIME MASTER6.600% 09/17/20290.2%
    Antero Resources Corp5.375% 03/01/20300.2%
    Fannie Mae Pool2.000% 01/01/20360.2%
    BX Trust 2025-ROIC5.717% 03/15/20300.2%
    KeyCorp6.401% 03/06/20350.2%
    Freddie Mac Pool6.000% 07/01/20390.2%
    Freedom Mortgage Corp12.250% 10/01/20300.2%
    AT&T Inc4.300% 02/15/20300.2%
    Aethon United BR LP / Aethon United Finance Corp7.500% 10/01/20290.2%
    AppLovin Corp5.375% 12/01/20310.2%
    Fannie Mae Pool2.500% 06/01/20370.2%
    Hudson Yards 2025-SPRL Mortgage Trust6.340% 01/13/20400.2%
    Boeing Co/The6.528% 05/01/20340.2%
    Freddie Mac Multifamily Structured Pass Through Certificates2.580% 05/25/20320.2%
    Global Atlantic Fin Co4.400% 10/15/20290.2%
    Toronto-Dominion Bank/The7.250% 07/31/20840.2%
    Gartner Inc4.500% 07/01/20280.2%
    CNO Global Funding5.875% 06/04/20270.2%
    Broadcom Inc5.150% 11/15/20310.2%
    Piedmont Natural Gas Co Inc5.100% 02/15/20350.2%
    NRG Energy Inc4.450% 06/15/20290.2%
    Jacobs Engineering Group Inc5.900% 03/01/20330.2%
    30-YR UMBS-TBA PROD MAR5.000% 09/01/20540.2%
    World Financial Network Credit Card Master Trust5.020% 03/15/20300.2%
    Connecticut Avenue Securities Trust 2023-R018.103% 12/25/20420.2%
    COMM 2015-LC21 Mortgage Trust4.043% 07/10/20480.2%
    Evergy Missouri West Inc5.650% 06/01/20340.2%
    TGNR Intermediate Holdings LLC5.500% 10/15/20290.2%
    Celanese US Holdings LLC6.050% 03/15/20250.2%
    Ford Motor Credit Co LLC6.125% 03/08/20340.2%
    Centene Corp2.450% 07/15/20280.2%
    JPMorgan Chase & Co2.963% 01/25/20330.2%
    Intesa Sanpaolo SpA6.625% 06/20/20330.2%
    BMO 2024-5C8 Mortgage Trust5.625% 12/15/20570.2%
    BX Commercial Mortgage Trust 2024-XL55.704% 03/15/20410.2%
    CCO Holdings LLC / CCO Holdings Capital Corp4.750% 03/01/20300.2%
    Broadcom Inc4.800% 10/15/20340.2%
    Freddie Mac Pool2.500% 06/01/20510.2%
    Brandywine Operating Partnership LP8.875% 04/12/20290.2%
    American Transmission Systems Inc2.650% 01/15/20320.2%
    Freddie Mac Pool6.000% 08/01/20390.2%
    JPMorgan Chase & Co4.946% 10/22/20350.2%
    LoanCore 2025 2025-CRE8 Issuer LLC5.760% 08/17/20420.2%
    Foundry JV Holdco LLC5.500% 01/25/20310.2%
    Constellation Energy Generation LLC5.800% 03/01/20330.2%
    Antofagasta PLC6.250% 05/02/20340.2%
    SM Energy Co6.750% 08/01/20290.2%
    Vistra Operations Co LLC6.073% 12/20/20300.2%
    Connecticut Avenue Securities Trust 2022-R086.902% 07/25/20420.2%
    VICI Properties LP / VICI Note Co Inc4.625% 12/01/20290.2%
    Danske Bank A/S4.298% 04/01/20280.2%
    UBS Group AG6.442% 08/11/20280.2%
    VStrong Auto Receivables Trust 2023-A9.310% 02/15/20300.2%
    Organon & Co / Organon Foreign Debt Co-Issuer BV5.125% 04/30/20310.2%
    BMO 2023-C5 Mortgage Trust5.494% 06/15/20560.2%
    GLP Capital LP / GLP Financing II Inc5.750% 06/01/20280.2%
    Santander Drive Auto Receivables Trust 2024-26.280% 08/15/20310.2%
    RAD CLO 21 Ltd5.867% 01/25/20370.2%
    Exeter Automobile Receivables Trust 2023-36.680% 04/16/20290.2%
    Arthur J Gallagher & Co5.000% 02/15/20320.2%
    Exeter Automobile Receivables Trust 2023-26.320% 08/15/20290.2%
    Royalty Pharma PLC5.400% 09/02/20340.2%
    Sprint Capital Corp8.750% 03/15/20320.1%
    Colombia Government International Bond7.750% 11/07/20360.1%
    Panama Government International Bond6.400% 02/14/20350.1%
    LD Celulose International GmbH7.950% 01/26/20320.1%
    Republic of South Africa Government International Bond7.100% 11/19/20360.1%
    Comstock Resources Inc6.750% 03/01/20290.1%
    Kimmeridge Texas Gas LLC8.500% 02/15/20300.1%
    Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp6.875% 12/01/20320.1%
    Truist Financial Corp5.711% 01/24/20350.1%
    BX Commercial Mortgage Trust 2024-XL45.754% 02/15/20390.1%
    Navoi Mining & Metallurgical Combinat6.950% 10/17/20310.1%
    LPL Holdings Inc4.625% 11/15/20270.1%
    Connecticut Avenue Securities Trust 2023-R026.652% 01/25/20430.1%
    GS Mortgage-Backed Securities Trust 2022-PJ63.000% 01/25/20530.1%
    Solventum Corp5.600% 03/23/20340.1%
    Angolan Government International Bond8.750% 04/14/20320.1%
    Phillips Edison Grocery Center Operating Partnership I LP4.950% 01/15/20350.1%
    Empresa Generadora de Electricidad Haina SA5.625% 11/08/20280.1%
    Universal Health Services Inc5.050% 10/15/20340.1%
    Baytex Energy Corp8.500% 04/30/20300.1%
    JetBlue Airways Corp / JetBlue Loyalty LP9.875% 09/20/20310.1%
    Aviation Capital Group LLC6.750% 10/25/20280.1%
    Aris Mining Corp8.000% 10/31/20290.1%
    AIB Group PLC5.871% 03/28/20350.1%
    SWCH Commercial Mortgage Trust 2025-DATA6.949% 03/15/20420.1%
    Energy Transfer LP6.500% 11/15/21730.1%
    Jackson National Life Global Funding5.500% 01/09/20260.1%
    Novelis Inc6.875% 01/30/20300.1%
    Petroleos Mexicanos6.700% 02/16/20320.1%
    Bayer US Finance LLC6.500% 11/21/20330.1%
    Freddie Mac Multifamily Structured Pass Through Certificates2.250% 01/25/20320.1%
    World Omni Auto Receivables Trust 2023-D5.790% 02/15/20290.1%
    Freddie Mac Pool6.000% 09/01/20390.1%
    Eastern Energy Gas Holdings LLC5.650% 10/15/20540.1%
    30-YR UMBS-TBA PROD APR6.500% 03/01/20540.1%
    Macquarie Group Ltd4.654% 03/27/20290.1%
    Venture Global LNG Inc8.375% 06/01/20310.1%
    Lightning Power LLC7.250% 08/15/20320.1%
    US Bancorp5.678% 01/23/20350.1%
    Husky Injection Molding Systems Ltd / Titan Co-Borrower LLC9.000% 02/15/20290.1%
    30-YR UMBS-TBA PROD MAR2.500% 05/01/20510.1%
    Ivanhoe Mines Ltd7.875% 01/23/20300.1%
    JSW Infrastructure Ltd4.950% 01/21/20290.1%
    Morgan Stanley2.239% 07/21/20320.1%
    Flagstar Mortgage Trust 2021-72.500% 08/25/20510.1%
    AAdvantage Loyalty IP Ltd9.339% 04/20/20280.1%
    Navient Corp11.500% 03/15/20310.1%
    MSCI Inc3.625% 11/01/20310.1%
    Warnermedia Holdings Inc3.788% 03/15/20250.1%
    Wells Fargo & Co2.393% 06/02/20280.1%
    Goodman US Finance Six LLC5.125% 10/07/20340.1%
    Ford Motor Credit Co LLC5.125% 06/16/20250.1%
    Columbia Pipeline Group Inc4.500% 06/01/20250.1%
    SBNA Auto Lease Trust 2024-A5.390% 11/20/20260.1%
    Aircastle Ltd2.850% 01/26/20280.1%
    HF Sinclair Corp5.000% 02/01/20280.1%
    Blue Owl Technology Finance Corp4.750% 12/15/20250.1%
    BNP Paribas SA2.219% 06/09/20260.1%
    Bayer US Finance LLC6.250% 01/21/20290.1%
    Ford Motor Credit Co LLC3.375% 11/13/20250.1%
    Booz Allen Hamilton Inc3.875% 09/01/20280.1%
    BX Trust 2024-VLT45.803% 07/15/20290.1%
    GGAM Finance Ltd8.000% 02/15/20270.1%
    Sprint Capital Corp6.875% 11/15/20280.1%
    Rakuten Group Inc9.750% 04/15/20290.1%
    Crescent Energy Finance LLC7.375% 01/15/20330.1%
    720 East CLO 2023-I Ltd10.152% 04/15/20360.1%
    Ascent Resources Utica Holdings LLC / ARU Finance Corp6.625% 10/15/20320.1%
    Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.500% 03/15/20270.1%
    Saks Global Enterprises LLC11.000% 12/15/20290.1%
    Ovintiv Inc6.500% 02/01/20380.1%
    Centene Corp4.250% 12/15/20270.1%
    Blackstone Private Credit Fund2.625% 12/15/20260.1%
    Rollins Inc5.250% 02/24/20350.1%
    Aviation Capital Group LLC6.375% 07/15/20300.1%
    Dominion Energy South Carolina Inc5.300% 01/15/20350.1%
    J.P. Morgan Mortgage Trust 2021-153.000% 06/25/20520.1%
    Kennedy-Wilson Inc4.750% 03/01/20290.1%
    Macquarie Airfinance Holdings Ltd8.125% 03/30/20290.1%
    Bayer US Finance II LLC4.250% 12/15/20250.1%
    International Flavors & Fragrances Inc1.230% 10/01/20250.1%
    Iron Mountain Information Management Services Inc5.000% 07/15/20320.1%
    Cheniere Energy Partners LP3.250% 01/31/20320.1%
    NRG Energy Inc6.068% 04/16/20310.1%
    Boeing Co/The5.150% 05/01/20300.1%
    GA Global Funding Trust3.850% 04/11/20250.1%
    Fresenius Medical Care US Finance III Inc3.000% 12/01/20310.1%
    30-YR GNMA II-TBA PROD APR6.500% 04/01/20540.1%
    Santander Drive Auto Receivables Trust 2024-35.640% 08/15/20300.1%
    30-YR GNMA II-TBA PROD APR4.500% 12/01/20540.1%
    Entergy Corp0.900% 09/15/20250.1%
    Cheniere Energy Inc5.650% 04/15/20340.1%
    VICI Properties LP / VICI Note Co Inc5.750% 02/01/20270.1%
    South Bow USA Infrastructure Holdings LLC5.026% 10/01/20290.1%
    AMMC CLO 23 Ltd6.353% 04/17/20350.1%
    Affirm Asset Securitization Trust 2023-B6.820% 09/15/20280.1%
    Public Service Electric and Gas Co4.850% 08/01/20340.1%
    Bayview Opportunity Master Fund VI Trust 2021-INV62.500% 10/25/20510.1%
    NGPL PipeCo LLC3.250% 07/15/20310.1%
    Allied Universal Holdco LLC / Allied Universal Finance Corp6.000% 06/01/20290.1%
    Genesee & Wyoming Inc6.099% 04/10/20310.1%
    Ecopetrol SA8.375% 01/19/20360.1%
    Vital Energy Inc9.750% 10/15/20300.1%
    Principal Life Global Funding II5.100% 01/25/20290.1%
    JP Morgan Mortgage Trust 2021-42.500% 08/25/20510.1%
    Aretec Group Inc10.000% 08/15/20300.1%
    Arbor Realty Commercial Real Estate Notes 2022-FL1 Ltd5.789% 01/15/20370.1%
    Mariner Finance Issuance Trust 2024-A9.020% 09/22/20360.1%
    Multifamily Connecticut Avenue Securities Trust 2024-017.102% 07/25/20540.1%
    Connecticut Avenue Securities Trust 2023-R038.252% 04/25/20430.1%
    SEB Funding LLC4.969% 01/30/20520.1%
    Westlake Automobile Receivables Trust 2023-15.740% 08/15/20280.1%
    Cajun Global LLC3.931% 11/20/20510.1%
    Rad CLO 20 Ltd7.293% 07/20/20360.1%
    Wells Fargo & Co3.350% 03/02/20330.1%
    FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple7.250% 01/31/20410.1%
    Devon Energy Corp5.200% 09/15/20340.1%
    Santander Drive Auto Receivables Trust 2022-76.690% 03/17/20310.1%
    Brighthouse Financial Global Funding5.650% 06/10/20290.1%
    Benchmark 2024-V12 Mortgage Trust5.738% 12/15/20570.1%
    Ally Bank Auto Credit-Linked Notes Series 2024-A7.917% 05/17/20320.1%
    Palomino Funding Trust I7.233% 05/17/20280.1%
    Wells Fargo Commercial Mortgage Trust 2024-MGP6.003% 08/15/20410.1%
    Landsea Homes Corp8.875% 04/01/20290.1%
    T-Mobile USA Inc3.875% 04/15/20300.1%
    Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp7.000% 07/15/20310.1%
    Univision Communications Inc8.500% 07/31/20310.1%
    Vermilion Energy Inc6.875% 05/01/20300.1%
    AmeriTex HoldCo Intermediate LLC10.250% 10/15/20280.1%
    Galaxy Pipeline Assets Bidco Ltd2.160% 03/31/20340.1%
    Connecticut Avenue Securities Trust 2023-R046.653% 05/25/20430.1%
    Oncor Electric Delivery Co LLC5.650% 11/15/20330.1%
    Accenture Capital Inc4.250% 10/04/20310.1%
    Citigroup Inc3.887% 01/10/20280.1%
    GLS Auto Select Receivables Trust 2024-25.580% 06/17/20300.1%
    Affirm Asset Securitization Trust 2023-B11.320% 09/15/20280.1%
    SunCoke Energy Inc4.875% 06/30/20290.1%
    Coca-Cola Consolidated Inc5.450% 06/01/20340.1%
    CPS Auto Receivables Trust 2023-A6.440% 04/16/20290.1%
    Sammons Financial Group Global Funding5.100% 12/10/20290.1%
    Octane Receivables Trust 2022-25.850% 07/20/20280.1%
    CIM Trust 2021-J12.500% 03/25/20510.1%
    Macquarie Airfinance Holdings Ltd6.500% 03/26/20310.1%
    CITGO Petroleum Corp8.375% 01/15/20290.1%
    NRG Energy Inc6.000% 02/01/20330.1%
    RenaissanceRe Holdings Ltd5.800% 04/01/20350.1%
    Avolon Holdings Funding Ltd2.125% 02/21/20260.1%
    Brown & Brown Inc2.375% 03/15/20310.1%
    Global Atlantic Fin Co7.950% 06/15/20330.1%
    Minejesa Capital BV4.625% 08/10/20300.1%
    Hexcel Corp5.875% 02/26/20350.1%
    Ford Motor Credit Co LLC6.054% 11/05/20310.1%
    CenterPoint Energy Resources Corp1.750% 10/01/20300.1%
    Bank of Montreal7.700% 05/26/20840.1%
    Talos Production Inc9.000% 02/01/20290.1%
    Connecticut Avenue Securities Trust 2024-R065.502% 09/25/20440.1%
    NatWest Group PLC3.032% 11/28/20350.1%
    MF1 2024-FL14 LLC6.051% 03/19/20390.1%
    Carmax Auto Owner Trust 2023-35.610% 02/15/20290.1%
    Sinclair Television Group Inc8.125% 02/15/20330.1%
    Oglethorpe Power Corp5.900% 02/01/20550.1%
    Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer6.750% 04/15/20280.1%
    Morgan Stanley4.000% 07/23/20250.1%
    Nigeria Government International Bond10.375% 12/09/20340.1%
    Prosus NV4.027% 08/03/20500.1%
    PFP 2023-10 Ltd6.677% 09/16/20380.1%
    Columbia Pipelines Holding Co LLC5.097% 10/01/20310.1%
    Bayview Opportunity Master Fund VII 2024-EDU1 LLC6.152% 06/25/20470.1%
    Medco Maple Tree Pte Ltd8.960% 04/27/20290.1%
    Mercer International Inc5.125% 02/01/20290.1%
    Mercury Financial Credit Card Master Trust6.560% 07/20/20290.1%
    BMW Vehicle Lease Trust 2023-15.070% 06/25/20260.1%
    Carnival Corp6.125% 02/15/20330.1%
    Goodyear Tire & Rubber Co/The5.000% 07/15/20290.1%
    ACRES Commercial Realty 2021-FL2 Ltd5.826% 01/15/20370.1%
    GrubHub Holdings Inc5.500% 07/01/20270.1%
    UBS Group AG2.746% 02/11/20330.1%
    Fannie Mae Pool2.000% 02/01/20360.1%
    Saudi Government International Bond5.750% 01/16/20540.1%
    Mexico Government International Bond6.000% 05/13/20300.1%
    15-YR UMBS-TBA PROD MAR6.000% 12/01/20380.1%
    Sabre GLBL Inc8.625% 06/01/20270.1%
    Affirm Asset Securitization Trust 2024-A5.610% 02/15/20290.1%
    Rain Carbon Inc12.250% 09/01/20290.1%
    Cloud Software Group Inc9.000% 09/30/20290.1%
    NOVA Chemicals Corp9.000% 02/15/20300.1%
    Arbor Realty Commercial Real Estate Notes 2022-FL2 Ltd6.162% 05/15/20370.1%
    Champions Financing Inc8.750% 02/15/20290.1%
    VZ Secured Financing BV5.000% 01/15/20320.1%
    Freddie Mac STACR REMIC Trust 2021-HQA45.302% 12/25/20410.1%
    Senegal Government International Bond6.250% 05/23/20330.1%
    Sri Lanka Government International Bond3.600% 05/15/20360.1%
    Alimentation Couche-Tard Inc5.267% 02/12/20340.1%
    Moss Creek Resources Holdings Inc8.250% 09/01/20310.1%
    Citadel Securities Global Holdings LLC6.325% 10/31/20310.1%
    Chase Home Lending Mortgage Trust 2024-RPL43.375% 12/25/20640.1%
    Hudson River Trading LLC7.323% 03/18/20300.1%
    Ares LXVII CLO Ltd5.853% 01/25/20380.1%
    Anglo American Capital PLC3.875% 03/16/20290.1%
    LSB Industries Inc6.250% 10/15/20280.1%
    VistaJet Malta Finance PLC / Vista Management Holding Inc7.875% 05/01/20270.1%
    Cotiviti Inc7.073% 04/30/20310.1%
    NGPL PipeCo LLC4.875% 08/15/20270.1%
    Ally Bank Auto Credit-Linked Notes Series 2024-B6.678% 09/15/20320.1%
    GM Financial Automobile Leasing Trust 2023-15.510% 01/20/20270.1%
    GM Financial Automobile Leasing Trust 2023-25.540% 05/20/20270.1%
    Vedanta Resources Finance II PLC9.475% 07/24/20300.1%
    Warnermedia Holdings Inc3.755% 03/15/20270.1%
    30-YR UMBS-TBA PROD APR2.000% 04/01/20510.1%
    F&G Global Funding5.150% 07/07/20250.1%
    Driven Brands Funding LLC3.981% 10/20/20490.1%
    Occidental Petroleum Corp6.625% 09/01/20300.1%
    Jane Street Group LLC6.396% 12/15/20310.1%
    Connecticut Avenue Securities Trust 2023-R016.753% 12/25/20420.1%
    HILCORP ENERGY I LP6.324% 02/05/20300.1%
    Advantage Sales & Marketing Inc6.500% 11/15/20280.1%
    Westlake Automobile Receivables Trust 2024-15.440% 05/17/20270.1%
    Ford Motor Credit Co LLC7.200% 06/10/20300.1%
    American Airlines Inc7.250% 02/15/20280.1%
    Kraken Oil & Gas Partners LLC7.625% 08/15/20290.1%
    Ford Motor Co9.625% 04/22/20300.1%
    Annisa CLO Ltd 2016-25.793% 07/20/20310.1%
    Penn Entertainment Inc4.125% 07/01/20290.1%
    15-YR UMBS-TBA PROD MAR2.500% 11/01/20360.1%
    UBS Group AG7.000% 08/10/21730.1%
    Interstate Power and Light Co4.950% 09/30/20340.1%
    JB Poindexter & Co Inc8.750% 12/15/20310.1%
    Expand Energy Corp5.375% 03/15/20300.1%
    PennyMac Financial Services Inc7.125% 11/15/20300.1%
    IRB Infrastructure Developers Ltd7.110% 03/11/20320.1%
    Freddie Mac STACR REMIC Trust 2023-HQA19.852% 05/25/20430.1%
    Hecla Mining Co7.250% 02/15/20280.1%
    TEXAS Commercial Mortgage Trust 2025-TWR7.401% 04/15/20420.1%
    Molina Healthcare Inc3.875% 11/15/20300.1%
    Talen Energy Supply LLC6.817% 12/15/20310.1%
    Workday Inc3.800% 04/01/20320.1%
    Crockett Partners Equipment Co IIA LLC6.050% 01/20/20310.1%
    Cloud Software Group Inc6.500% 03/31/20290.1%
    Glencore Funding LLC6.375% 10/06/20300.1%
    Jacobs Entertainment Inc6.750% 02/15/20290.1%
    Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC7.250% 02/15/20310.1%
    EquipmentShare.com Inc9.000% 05/15/20280.1%
    California Resources Corp8.250% 06/15/20290.1%
    Indika Energy Tbk PT8.750% 05/07/20290.1%
    McAfee Corp7.375% 02/15/20300.1%
    Calpine Corp6.062% 01/31/20310.1%
    Rand Parent LLC8.500% 02/15/20300.1%
    Avid Automobile Receivables Trust 2021-13.390% 04/17/20280.1%
    Vistra Operations Co LLC7.750% 10/15/20310.1%
    Carnival Corp6.000% 05/01/20290.1%
    Alpha Generation LLC6.750% 10/15/20320.1%
    Citigroup Inc3.980% 03/20/20300.1%
    Biocon Biologics Global PLC6.670% 10/09/20290.1%
    US Acute Care Solutions LLC9.750% 05/15/20290.1%
    Staples Inc10.750% 09/01/20290.1%
    Oracle Corp2.875% 03/25/20310.1%
    JP Morgan Mortgage Trust 2022-33.000% 08/25/20520.1%
    FMG Resources August 2006 Pty Ltd4.375% 04/01/20310.1%
    REYNOLDS CONSUMER PRODUCTS LLC6.073% 02/19/20320.1%
    Colombia Government International Bond7.500% 02/02/20340.1%
    Appalachian Power Co5.650% 04/01/20340.1%
    JP Morgan Mortgage Trust 2022-INV13.000% 03/25/20520.1%
    Glencore Funding LLC5.634% 04/04/20340.1%
    Indianapolis Power & Light Co5.700% 04/01/20540.1%
    Arko Corp5.125% 11/15/20290.1%
    FactSet Research Systems Inc3.450% 03/01/20320.1%
    VStrong Auto Receivables Trust 2023-A9.990% 12/16/20300.1%
    Freddie Mac STACR REMIC Trust 2022-HQA36.652% 08/25/20420.1%
    American Tower Corp5.550% 07/15/20330.1%
    Emergent BioSolutions Inc3.875% 08/15/20280.1%
    BFLD 2024-VICT Mortgage Trust6.202% 07/15/20410.1%
    Citizens Auto Receivables Trust 2024-25.330% 08/15/20280.1%
    Walgreens Boots Alliance Inc8.125% 08/15/20290.1%
    Enel Finance International NV5.125% 06/26/20290.1%
    Viterra Finance BV4.900% 04/21/20270.1%
    Targa Resources Partners LP / Targa Resources Partners Finance Corp5.000% 01/15/20280.1%
    Madison Park Funding LVIII Ltd7.950% 04/25/20370.1%
    Nuveen LLC5.850% 04/15/20340.1%
    National Fuel Gas Co3.950% 09/15/20270.1%
    Jump Financial LLC8.567% 02/20/20320.1%
    Coterra Energy Inc4.375% 03/15/20290.1%
    BX Commercial Mortgage Trust 2021-ACNT5.276% 11/15/20380.1%
    Delek Logistics Partners LP / Delek Logistics Finance Corp7.125% 06/01/20280.1%
    Amur Equipment Finance Receivables XIII LLC5.380% 01/21/20310.1%
    New Residential Mortgage Loan Trust 2020-RPL13.854% 11/25/20590.1%
    Ballyrock CLO 23 Ltd6.280% 04/25/20360.1%
    BNP Paribas SA8.000% 08/22/21730.1%
    American Tower Corp3.800% 08/15/20290.1%
    Ford Motor Credit Co LLC6.800% 05/12/20280.1%
    BAT Capital Corp5.834% 02/20/20310.1%
    Freddie Mac STACR REMIC Trust 2024-DNA15.702% 02/25/20440.1%
    Diamond Foreign Asset Co / Diamond Finance LLC8.500% 10/01/20300.1%
    Occidental Petroleum Corp6.450% 09/15/20360.1%
    Velocity Commercial Capital Loan Trust 2024-26.650% 06/25/20540.1%
    Benefit Street Partners Clo XXXIII Ltd6.600% 01/25/20360.1%
    Truist Financial Corp5.867% 06/08/20340.1%
    LoanCore 2022-CRE7 Issuer Ltd5.889% 01/17/20370.1%
    Discovery Communications LLC3.950% 03/20/20280.1%
    Lending Funding Trust 2020-22.320% 04/21/20310.1%
    Valaris Ltd8.375% 04/30/20300.1%
    Fannie Mae Pool2.500% 08/01/20350.1%
    JP Morgan Mortgage Trust 2021-102.500% 12/25/20510.1%
    SMRT 2022-MINI5.312% 01/15/20390.1%
    CIFC Funding 2024-IV Ltd7.600% 10/16/20370.1%
    Long Ridge Energy LLC8.750% 02/15/20320.1%
    ABN AMRO Bank NV3.324% 03/13/20370.1%
    Dominion Energy Inc6.875% 02/01/20550.1%
    Flagship Credit Auto Trust 2023-15.010% 08/16/20270.1%
    Freddie Mac Multifamily Structured Pass Through Certificates3.123% 08/25/20320.1%
    J.P. Morgan Mortgage Trust 2021-INV83.000% 05/25/20520.1%
    Talen Energy Supply LLC8.625% 06/01/20300.1%
    MF1 2022-FL9 LLC6.462% 06/19/20370.1%
    Chase Home Lending Mortgage Trust Series 2024-RPL23.250% 08/25/20640.1%
    Affirm Asset Securitization Trust 2024-A9.170% 02/15/20290.1%
    Affirm Asset Securitization Trust 2024-A5.610% 02/15/20290.1%
    Generate CLO 14 Ltd6.790% 04/22/20370.1%
    IPALCO Enterprises Inc5.750% 04/01/20340.1%
    Santander Bank Auto Credit-Linked Notes Series 2022-C14.592% 12/15/20320.1%
    Prologis Targeted US Logistics Fund LP5.250% 01/15/20350.1%
    NatWest Group PLC7.472% 11/10/20260.1%
    Trans Union LLC6.073% 06/24/20310.1%
    New York Life Global Funding4.550% 01/28/20330.1%
    KIND Commercial Mortgage Trust 2024-16.202% 08/15/20410.1%
    Allied Universal Holdco LLC7.875% 02/15/20310.1%
    Greenko Dutch BV3.850% 03/29/20260.1%
    Oceanview Mortgage Trust 2021-INV32.500% 07/25/20510.1%
    Ardonagh Group Finance Ltd8.875% 02/15/20320.1%
    Dynasty Acquisition Co Inc6.574% 10/31/20310.1%
    Fannie Mae Pool5.000% 10/01/20520.1%
    East Ohio Gas Co/The1.300% 06/15/20250.1%
    Mauser Packaging Solutions Holding Co9.250% 04/15/20270.1%
    Assurant Inc2.650% 01/15/20320.1%
    Freddie Mac STACR REMIC Trust 2023-DNA27.603% 04/25/20430.1%
    Carmax Auto Owner Trust 2024-35.670% 01/15/20310.1%
    Crown Castle Inc2.100% 04/01/20310.1%
    Greenko Dutch BV3.850% 03/29/20260.1%
    Oglethorpe Power Corp5.950% 11/01/20390.1%
    Fairstone Financial Issuance Trust I6.873% 10/20/20390.1%
    30-YR UMBS-TBA PROD MAR2.000% 04/01/20510.1%
    MTN Commercial Mortgage Trust 2022-LPFL5.717% 03/15/20390.1%
    Boeing Co/The6.858% 05/01/20540.1%
    Block Inc6.500% 05/15/20320.1%
    Santander Bank Auto Credit-Linked Notes Series 2022-A9.965% 05/15/20320.1%
    SCF Equipment Leasing 2024-1 LLC9.000% 12/20/20340.1%
    AG TTMT Escrow Issuer LLC8.625% 09/30/20270.1%
    Florida Power & Light Co5.800% 03/15/20650.1%
    Macquarie Airfinance Holdings Ltd5.150% 03/17/20300.1%
    LifePoint Health Inc10.000% 06/01/20320.1%
    NCL Corp Ltd5.875% 02/15/20270.1%
    Morgan Stanley5.297% 04/20/20370.1%
    Ready Capital Mortgage Financing 2022-FL8 LLC6.002% 01/25/20370.1%
    Frontdoor Inc6.564% 12/19/20310.1%
    Heartland Dental LLC / Heartland Dental Finance Corp10.500% 04/30/20280.1%
    Broadcom Inc4.150% 04/15/20320.1%
    Emrld Borrower LP6.810% 08/04/20310.1%
    Wells Fargo & Co5.574% 07/25/20290.1%
    Barings CLO Ltd 2024-I8.293% 01/20/20370.1%
    Chobani Holdco II LLC8.750% 10/01/20290.1%
    OWN Equipment Fund I LLC5.700% 12/20/20320.1%
    Connecticut Avenue Securities Trust 2022-R067.102% 05/25/20420.1%
    EQM Midstream Partners LP7.500% 06/01/20300.1%
    Occidental Petroleum Corp5.550% 10/01/20340.1%
    Corpay Technologies Operating Co LLC6.074% 04/28/20280.1%
    CONE Trust 2024-DFW16.603% 08/15/20410.1%
    SCF Equipment Leasing 2021-1 LLC3.560% 08/20/20320.1%
    Flagstar Mortgage Trust 2021-122.500% 11/25/20510.1%
    EMRLD Borrower LP / Emerald Co-Issuer Inc6.750% 07/15/20310.1%
    Regatta XXVIII Funding Ltd6.350% 04/25/20370.1%
    J.P. Morgan Mortgage Trust 2022-43.000% 10/25/20520.1%
    Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC6.250% 03/15/20330.1%
    Charter Communications Operating LLC6.573% 12/15/20310.1%
    30-YR UMBS-TBA PROD APR3.000% 08/01/20510.1%
    Santander Consumer Auto Receivables Trust 2020-B7.030% 08/15/20280.1%
    First Quantum Minerals Ltd8.000% 03/01/20330.1%
    Goldman Sachs Group Inc/The2.383% 07/21/20320.1%
    ATI Inc7.250% 08/15/20300.1%
    Flagship Credit Auto Trust 2022-34.550% 04/15/20270.1%
    Southwest Gas Corp4.050% 03/15/20320.1%
    Spire Missouri Inc5.150% 08/15/20340.1%
    Carvana Auto Receivables Trust 2020-NP15.200% 07/15/20270.1%
    Macquarie Bank Ltd3.624% 06/03/20300.1%
    AGL CLO 24 Ltd9.800% 07/25/20360.1%
    LABL Inc9.500% 11/01/20280.1%
    Freddie Mac STACR REMIC Trust 2024-DNA15.702% 02/25/20440.1%
    Bombardier Inc7.250% 07/01/20310.1%
    Connecticut Avenue Securities Trust 2023-R047.903% 05/25/20430.1%
    EPR Properties4.950% 04/15/20280.1%
    Teva Pharmaceutical Finance Netherlands III BV3.150% 10/01/20260.1%
    Centene Corp3.375% 02/15/20300.1%
    Barclays PLC7.625% 06/15/21730.1%
    J.P. Morgan Mortgage Trust 2022-43.000% 10/25/20520.1%
    Freddie Mac Pool5.000% 08/01/20520.1%
    Citigroup Mortgage Loan Trust 2022-INV13.000% 11/27/20510.1%
    Affirm Asset Securitization Trust 2024-A9.170% 02/15/20290.1%
    Chase Home Lending Mortgage Trust Series 2024-RPL33.250% 09/25/20640.1%
    Freddie Mac STACR REMIC Trust 2024-DNA25.552% 05/25/20440.1%
    FirstEnergy Transmission LLC5.000% 01/15/20350.1%
    Ford Motor Credit Co LLC2.700% 08/10/20260.1%
    Connecticut Avenue Securities Trust 2024-R036.303% 03/25/20440.1%
    Mill City Mortgage Loan Trust 2021-NMR13.672% 11/25/20600.0%
    Fannie Mae Pool2.500% 06/01/20510.0%
    Central American Bottling Corp / CBC Bottling Holdco SL / Beliv Holdco SL5.250% 04/27/20290.0%
    Avant Loans Funding Trust 2021-REV14.300% 07/15/20300.0%
    Fannie Mae Pool5.000% 08/01/20520.0%
    HCA Inc5.450% 09/15/20340.0%
    Enbridge Inc6.200% 11/15/20300.0%
    Connecticut Avenue Securities Trust 2019-R058.566% 07/25/20390.0%
    Texas Natural Gas Securitization Finance Corp5.102% 04/01/20350.0%
    Bank of New York Mellon Corp/The4.596% 07/26/20300.0%
    Fannie Mae Pool2.500% 12/01/20510.0%
    Bayer Corp/NJ6.650% 02/15/20280.0%
    Fannie Mae Pool4.000% 06/01/20520.0%
    Fannie Mae Pool2.500% 01/01/20510.0%
    GS Mortgage-Backed Securities Trust 2021-PJ22.500% 07/25/20510.0%
    Watco Cos LLC / Watco Finance Corp7.125% 08/01/20320.0%
    Santander Consumer Auto Receivables Trust 2021-A5.790% 08/15/20280.0%
    Discover Bank5.974% 08/09/20280.0%
    Lendmark Funding Trust 2022-15.120% 07/20/20320.0%
    Fannie Mae Pool6.000% 02/01/20390.0%
    BNP Paribas SA4.375% 03/01/20330.0%
    OneMain Direct Auto Receivables Trust 2019-14.190% 11/14/20280.0%
    Fannie Mae Pool3.500% 04/01/20520.0%
    Vistra Operations Co LLC5.125% 05/13/20250.0%
    J.P. Morgan Mortgage Trust 2022-13.000% 07/25/20520.0%
    Sixth Street CLO XXII Ltd9.290% 04/22/20360.0%
    Fannie Mae Pool2.500% 12/01/20510.0%
    Altice France SA8.125% 02/01/20270.0%
    Aramark Services Inc6.324% 06/24/20300.0%
    HUB International Ltd7.375% 01/31/20320.0%
    National Fuel Gas Co5.500% 01/15/20260.0%
    BankUnited Inc5.125% 06/11/20300.0%
    Connecticut Avenue Securities Trust 2024-R046.002% 05/25/20440.0%
    Freddie Mac Pool5.000% 08/01/20520.0%
    Trans Union LLC6.172% 06/24/20310.0%
    30-YR UMBS-TBA PROD MAR6.500% 03/01/20540.0%
    Viterra Finance BV3.200% 04/21/20310.0%
    Bain Capital CLO 2024-1 Ltd8.158% 04/16/20370.0%
    Dynasty Acquisition Co Inc6.574% 10/31/20310.0%
    Ready Capital Mortgage Financing 2023-FL12 LLC6.654% 05/25/20380.0%
    Fluor Corp4.250% 09/15/20280.0%
    Phillips Edison Grocery Center Operating Partnership I LP5.750% 07/15/20340.0%
    30-YR UMBS-TBA PROD APR4.500% 09/01/20540.0%
    Fannie Mae Pool2.500% 05/01/20520.0%
    Freddie Mac STACR REMIC Trust 2022-HQA16.452% 03/25/20420.0%
    30-YR UMBS-TBA PROD MAR4.500% 09/01/20540.0%
    Freddie Mac Pool5.000% 07/01/20520.0%
    ZF North America Capital Inc6.750% 04/23/20300.0%
    Verus Securitization Trust 2021-81.824% 11/25/20660.0%
    Macquarie Group Ltd2.691% 06/23/20320.0%
    Fannie Mae Pool2.500% 12/01/20510.0%
    US 10yr Ultra Fut Jun250.000% 06/18/20250.0%
    Romark CLO Ltd6.202% 10/23/20300.0%
    Galaxy Xxviii Clo Ltd5.864% 07/15/20310.0%
    Fannie Mae Pool3.500% 07/01/20450.0%
    Fannie Mae Pool3.000% 12/01/20480.0%
    VICI Properties LP6.125% 04/01/20540.0%
    Freddie Mac Pool3.500% 02/01/20460.0%
    Fannie Mae Pool4.000% 05/01/20520.0%
    Fannie Mae Pool5.000% 07/01/20520.0%
    Fannie Mae Pool3.000% 03/01/20370.0%
    Carlyle Global Market Strategies CLO 2014-3-R Ltd5.612% 07/27/20310.0%
    Post Road Equipment Finance 2022-14.880% 11/15/20280.0%
    Flagship Credit Auto Trust 2019-33.840% 12/15/20260.0%
    BSPRT 2022-FL8 Issuer Ltd5.839% 02/15/20370.0%
    Protective Life Corp8.450% 10/15/20390.0%
    Fannie Mae Pool5.000% 07/01/20520.0%
    Fannie Mae Pool2.500% 08/01/20510.0%
    Bank of America Corp3.384% 04/02/20260.0%
    Fannie Mae Pool4.000% 05/01/20520.0%
    Perimeter Master Note Business Trust4.170% 12/15/20260.0%
    Freddie Mac Pool2.500% 11/01/20510.0%
    OneMain Direct Auto Receivables Trust 2019-13.630% 09/14/20270.0%
    Baxalta Inc4.000% 06/23/20250.0%
    Fannie Mae Pool3.000% 01/01/20520.0%
    US ULTRA BOND CBT Jun250.000% 06/18/20250.0%
    Sabine Pass Liquefaction LLC5.625% 03/01/20250.0%
    Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.875% 04/15/20450.0%
    OneMain Financial Issuance Trust 2020-23.450% 09/14/20350.0%
    Fannie Mae Pool3.500% 09/01/20510.0%
    30-YR UMBS-TBA PROD MAR3.000% 08/01/20510.0%
    Octane Receivables Trust 2022-25.110% 02/22/20280.0%
    BlueMountain CLO 2013-2 Ltd5.732% 10/22/20300.0%
    TRTX 2019-FL3 Issuer Ltd6.526% 10/15/20340.0%
    US 2YR NOTE (CBT) Jun250.000% 06/30/20250.0%
    FX USD/CAD 03/250.000% 03/07/20250.0%
    Citigroup Commercial Mortgage Trust 2016-GC363.849% 02/10/20490.0%
    Coterra Energy Inc5.600% 03/15/20340.0%
    Rain CII Carbon LLC / CII Carbon Corp7.250% 04/01/20250.0%
    SG Commercial Mortgage Securities Trust 2019-787E0.305% 02/15/20410.0%
    Residential Mortgage Loan Trust 2020-12.376% 01/26/20600.0%
    Starwood Mortgage Residential Trust 2020-12.275% 02/25/20500.0%
    Government National Mortgage Association2.650% 11/16/20500.0%
    JP Morgan Chase Commercial Mortgage Securities Trust 2014-DSTY3.805% 06/10/20270.0%

    Dividends & Cap Gains

    Dividends & Cap Gains

    Dividend Payments

    For
    YTD Dividends Paidas of 04/25/2025
    $0.16483
    Dividend Frequency
    Monthly (Daily Accrual)
    Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
    Daily Daily 03/31/2025 $0.05643 $12.88
    Daily Daily 02/28/2025 $0.05379 $12.97
    Daily Daily 01/31/2025 $0.05460 $12.76

    Upcoming Dividend Payment Dates

    Record Date Ex-Dividend Date Reinvest & Payable Date
    Daily Daily 04/30/2025
    Daily Daily 05/31/2025
    Daily Daily 06/30/2025
    Daily Daily 07/31/2025
    Daily Daily 08/31/2025
    Daily Daily 09/30/2025
    Daily Daily 10/31/2025
    Daily Daily 11/30/2025
    Daily Daily 12/31/2025

    Yield

    Yield

    Dividend Yield as of 04/25/2025  

    w/o sales charge 5.31%

    Distribution Yield as of 04/25/2025  

    5.31%

    30-Day Standardized Yield as of 03/31/2025  

      Subsidized Un-Subsidized
    w/o sales charge 5.09% 5.09%

    Fees & Expenses

    Fees & Expenses

    Expense Ratioas of 03/31/2025

    Fund Gross Expense Ratio 0.68%
    Fund Net Expense Ratio 0.68%

    Expense ratio details, Click here.

    Fund Documents

    Fund Documents

    0Documents selected
    Portfolio Holdings 1Q
    Publish Date:11/03/2015
    Portfolio Holdings 3Q
    Publish Date:11/03/2015
    Summary Prospectus
    Publish Date:11/03/2015
    Statutory Prospectus
    Publish Date:11/03/2015
    SAI
    Publish Date:11/03/2015
    Annual Financial Statements and Other Information *
    Publish Date:11/03/2015
    Annual Tailored Shareholder Report
    Publish Date:11/03/2015
    Semi-Annual Financial Statements and Other Information *
    Publish Date:11/03/2015
    Semi-Annual Tailored Shareholder Report
    Publish Date:11/03/2015
    Fact Sheet
    Publish Date:11/03/2015
    Commentary
    Publish Date:11/03/2015
    * includes items 7-11 of form N-CSR as required, if any.

    To order literature visit full website

    +

    Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.      

                        

    +

    Class I shares minimum initial investment of $1,000,000, unless otherwise noted, applies to certain types of institutional investors as described in the prospectus. There is no minimum initial investment for (i) purchases through or by registered investment advisers (RIAs), bank trust departments, and other financial intermediaries otherwise eligible to purchase Class I shares that charge a fee for services that include investment advisory or management services or (ii) purchases by retirement and benefit plans meeting the Class I eligibility requirements as described in the prospectus. These investment minimums may be suspended, changed, or withdrawn by Lord Abbett Distributor LLC ("Lord Abbett Distributor").

    Class I shares minimum initial investment of $1,000,000, unless otherwise noted, applies to certain types of institutional investors as described in the prospectus. 

    1

    The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

     

    2

    The 30-day Standardized Subsidized yields reflect fee waivers in effect. Without such fee waivers, yields would be reduced.  

     

    3

    The 30-day Standardized Unsubsidized yield does not reflect fee waivers.

    Average Yield to Maturity is the total rate of return earned when a bond makes all interest payments and repays the original principal.

    Distribution Yield is the calculation of cash flow for an investment vehicle, to calculate the distribution yield, the most recent distribution is multiplied by 12 to get an annualized total, which is then divided by the NAV.

     

    IMPORTANT INFORMATION

     

    A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The value of an investment will change as interest rates fluctuate and in response to market movements. When interest rates fall, the prices of debt securities tend to rise, and when interest rates rise, the prices of debt securities are likely to decline. Debt securities are subject to credit risk, which is the risk that the issuer will fail to make timely payments of interest and principal to the Fund. The Fund may invest in high yield, lower-rated debt securities, sometimes called junk bonds and may involve greater risks than higher rated debt securities. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can affect Fund performance. Past performance is no guarantee of future results.

     

    Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

     

     

    CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

     

    Class R4 - The inception date for Class R4 shares is June 30, 2015. The performance quotations for Class R4 are based on the following methods of calculation: (a) for periods prior to June 30, 2015, a restated figure is used based on the historical performance of the Fund’s portfolio since inception to reflect all charges and fees applicable to Class R4 shares; and (b) for periods after June 30, 2015, actual Class R4 performance is used, which reflects all charges and fees applicable to Class R4 shares.

    Class R4 shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

    With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

     

    Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

     

    Returns shown at less than a year reflect aggregate total returns.

     

    Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.   

     

    The Bloomberg U.S. Aggregate Bond Index represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. Total return comprises price appreciation/depreciation and income as a percentage of the original investment. 

    Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

     

    Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

     

    Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

     

     

    Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

     

    The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.  

     

    Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

    The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

     

    About Barron's Best Fund Families
    Source: Barron's, "Best Fund Families of 2024." February 27, 2025. Used with permission. ©2025 Dow Jones & Company, Inc.

    The 2024 Barron’s Best Fund Families List ranks the active management ability of qualifying companies. Rankings are based on the asset-weighted one-year returns as of 12/31/24, excluding 12b-1 fees and sales loads, of a company’s actively managed fund line up in five asset class categories: US Equity, World Equity, Mixed Asset, Taxable Bond, and Tax-Exempt Bond as determined by Barron’s. Overall ranking based on aggregate, weighted score across the five asset categories. Performance data from Refinitiv Lipper.

    Past performance does not guarantee future results. Lord Abbett ranked overall #1 of 48, #6 of 46, and #23 of 46 for the 1- ,5-, and 10-year periods respectively. Lord Abbett ranked #1 of 48 in US Equity, #2 of 48 in Mixed Asset, #2 of 48 in Taxable Bond, and #5 of 48 in Tax-Exempt Bond.

    How We Ranked the Fund Families
    In ranking mutual and exchange-traded funds, our aim is to measure manager skill, independent of expenses beyond annual management fees. That is why we calculate returns before any 12b-1 fees are deducted. Similarly, fund loads, or sales charges, aren’t included in our calculation of returns.

    Each fund’s performance is measured against all of the other funds in its LSEG Lipper category, with a percentile ranking of 100 being the highest and one the lowest. This result is then weighted by asset size relative to the fund family’s other assets in its general classification. If a family’s biggest funds do well, that boosts its overall ranking, and vice versa.

    To be included in the ranking, a firm must have at least three funds in the general equity category, one in world equity, one in mixed equity such as a balanced or target-date fund, two taxable bond funds, and one national tax-exempt bond fund.

    Single-sector and country equity funds are factored into the rankings as general equity. We exclude all index funds, but include actively managed ETFs and so-called smart-beta ETFs, which are passively managed but created from active strategies.

    Finally, the score is multiplied by the weighting of its general classification, as determined by the Lipper universe of funds. The category weightings for 2024 were general equity, 39.1%; mixed asset, 21.6%; world equity, 15.3%; taxable bond,20.1%; and tax-exempt bond, 3.9%.

    The category weightings for the five-year results were general equity, 39%; mixed asset, 21.7%; world equity, 15.3%; taxable bond, 19.9%; and tax-exempt bond, 4%.For the 10-year list, they were general equity, 40%; mixed asset, 22.1%; world equity, 14.8%; taxable bond, 19.2%; and tax[1]exempt bond, 3.9%. The weightings may not total 100 due to rounding.

    How the scoring works: Say a fund in the general U.S. equity category has $500million in assets, accounting for half of the firm’s assets in that category, and its performance lands it in the 75th percentile for the category. The first calculation would be 75 times 0.5, which comes to 37.5. That score is then multiplied by 39.1%, general equity’s overall weighting in Lipper’s universe. So, it would be 37.5 times0.391, which equals 14.66. Similar calculations are done for each fund in our study; then the numbers are added for each category and overall. The shop with the highest total score wins. The same process is repeated to determine the five- and 10-year rankings.

    Select funds to run a Morningstar Hypothetical Report.

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