LHYSX | High Yield Fund Class R4 | Lord Abbett
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    High Yield Fund

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

    $6.22

    arrowUp$0.02

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

    -0.32%

    Click here to view all legal text including risk information

    Summary

    Summary

    What is the High Yield Fund?

    The Fund seeks to deliver current income and the opportunity for capital appreciation by investing primarily in high yield corporate bonds.
     

    A HERITAGE OF HIGH YIELD

    Brings a 40+ year history of high-yield investing, focused on fundamental, bottom-up credit research.

    AN OPPORTUNISTIC APPROACH

    Provides the flexibility to adjust to the market environment and take advantage of opportunities across the credit spectrum.

    STRONG TRACK RECORD

    Has offered a track record of strong performance versus peers in up and down markets, demonstrating the strength of this active approach as a core high-yield holding over a full market cycle.

    Yield

    Average Yield to Maturity as of 03/31/2025

    		8.42%

    Distribution Yield as of 04/25/2025  

    		7.42%

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

      Subsidized2 Un-Subsidized3
    w/o sales charge 6.99% 6.98%

    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
    $3.46 B
    Inception Date
    06/30/2015
    Dividend Frequency
    Monthly
    Fund Gross Expense Ratio
    0.98%
    Fund Net Expense Ratio
    0.98%
    Number of Holdings
    704

    Fund Expense Ratio :

    Gross 0.98%

    Net 0.98%

    YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/03/1999
    YTD
    1-YR
    3-YR
    5-YR
    10-YR
    Since Inception 05/03/1999
    w/o sales charge 0.29% 6.66% 3.03% 6.61% 4.05% 5.84%
    Lipper Category Avg. High Yield Funds 0.69% 6.63% 4.16% 6.70% 4.17% -10000.0%
    ICE BofA U.S. High Yield Constrained Index 0.96% 7.67% 4.91% 7.24% 4.93% -10000.0%
    w/ sales charge 0.29% 6.66% 3.03% 6.61% 4.05% 5.84%

    Fund Expense Ratio :

    Gross 0.98%

    Net 0.98%

    Fund Expense Ratio :

    Gross 0.98%

    Net 0.98%

    YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/03/1999
    YTD
    1-YR
    3-YR
    5-YR
    10-YR
    Since Inception 05/03/1999
    w/o sales charge 0.29% 6.66% 3.03% 6.61% 4.05% 5.84%
    Lipper Category Avg. High Yield Funds 0.69% 6.63% 4.16% 6.70% 4.17% -10000.0%
    ICE BofA U.S. High Yield Constrained Index 0.96% 7.67% 4.91% 7.24% 4.93% -10000.0%

    Fund Expense Ratio :

    Gross 0.98%

    Net 0.98%

    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
    High Yield Bonds
    Bank Loans
    Investment Grade Bonds
    Convertibles
    Equity
    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
    BBB
    BB
    B
    <B
    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 average rating based on numeric values assigned to each rating. 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

    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

    Christopher Gizzo
    Christopher Gizzo, CFA

    Partner, Deputy Director of Leveraged Credit

    17 Years of Industry Experience

    Supported By 87 Investment Professionals with 18 Years Avg. Industry Experience

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    Performance

    Performance

    Average Yield to Maturity as of 03/31/2025

    8.42%

    Distribution Yield as of 04/25/2025  

    7.42%

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

      Subsidized2 Un-Subsidized3
    w/o sales charge 6.99% 6.98%

    Fund Expense Ratio :

    Gross 0.98%

    Net 0.98%

    YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/03/1999
    YTD
    1-YR
    3-YR
    5-YR
    10-YR
    Since Inception 05/03/1999
    w/o sales charge 0.29% 6.66% 3.03% 6.61% 4.05% 5.84%
    Lipper Category Avg. High Yield Funds 0.69% 6.63% 4.16% 6.70% 4.17% -10000.0%
    ICE BofA U.S. High Yield Constrained Index 0.96% 7.67% 4.91% 7.24% 4.93% -10000.0%
    w/ sales charge 0.29% 6.66% 3.03% 6.61% 4.05% 5.84%

    Fund Expense Ratio :

    Gross 0.98%

    Net 0.98%

    Fund Expense Ratio :

    Gross 0.98%

    Net 0.98%

    YTD 1-YR 3-YR 5-YR 10-YR Since Inception 05/03/1999
    YTD
    1-YR
    3-YR
    5-YR
    10-YR
    Since Inception 05/03/1999
    w/o sales charge 0.29% 6.66% 3.03% 6.61% 4.05% 5.84%
    Lipper Category Avg. High Yield Funds 0.69% 6.63% 4.16% 6.70% 4.17% -10000.0%
    ICE BofA U.S. High Yield Constrained Index 0.96% 7.67% 4.91% 7.24% 4.93% -10000.0%

    Fund Expense Ratio :

    Gross 0.98%

    Net 0.98%

    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 ICE BofA U.S. High Yield Constrained Index
    Year
    Fund Returns
    ICE BofA U.S. High Yield Constrained Index
    2024 8.34% 8.27%
    2023 10.40% 13.55%
    2022 -13.79% -11.16%
    2021 6.10% 5.35%
    2020 4.58% 6.07%
    2019 14.86% 14.41%
    2018 -5.19% -2.27%
    2017 8.46% 7.48%
    2016 15.82% 17.49%
    2015 -2.28% -4.61%
    2014 3.42% -10000.0%
    2013 9.62% -10000.0%
    2012 16.41% -10000.0%
    2011 3.13% -10000.0%
    2010 14.25% -10000.0%
    2009 50.40% -10000.0%
    2008 -23.35% -10000.0%
    2007 2.58% -10000.0%
    2006 10.04% -10000.0%
    2005 1.24% -10000.0%
    Year Q1 Q2 Q3 Q4
    Year
    Q1
    Q2
    Q3
    Q4
    2025 0.29% -10000.0% -10000.0% -10000.0%
    2024 1.87% 1.20% 4.86% 0.22%
    2023 2.67% 1.13% -0.45% 6.81%
    2022 -5.44% -10.73% -1.49% 3.67%
    2021 1.71% 3.09% 0.62% 0.56%
    2020 -16.68% 10.89% 5.67% 7.12%
    2019 7.49% 3.77% 0.27% 2.71%
    2018 -1.08% -0.05% 2.40% -6.35%
    2017 2.81% 1.97% 2.44% 0.99%
    2016 2.00% 5.36% 5.60% 2.05%
    2015 3.17% 0.72% -4.23% -1.81%
    2014 2.90% 3.36% -1.83% -0.95%
    2013 3.95% -1.04% 2.62% 3.84%
    2012 6.60% 0.36% 5.04% 3.59%
    2011 3.80% 1.06% -7.00% 5.70%
    2010 4.91% -0.92% 6.31% 3.39%
    2009 5.96% 17.40% 13.95% 6.11%
    2008 -3.38% 2.01% -7.88% -15.59%
    2007 3.06% 0.18% 0.50% -1.14%
    2006 2.64% 0.00% 2.80% 4.30%
    2005 -1.75% 1.53% 0.97% 0.51%
    2004 -10000.0% -10000.0% -10000.0% 5.05%

    NAV Historical Prices

    Date Net Asset Value

    Portfolio

    Portfolio

    Rating Assets
    High Yield Bonds
    Bank Loans
    Investment Grade Bonds
    Convertibles
    Equity
    Other
    Cash

    Allocations are reported as of the date a security transaction is initiated; however, certain transactions may not settle until several days later. Accordingly, cash may appear as a negative allocation as a result of unsettled transactions.

    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
    BBB
    BB
    B
    <B
    Not Rated

    Portfolio Positioning as of 12/31/2024

    • We continue to focus on investments with higher carry. With high yield spreads south of 300 basis points, and the direction of interest rates still largely uncertain, we continue to target investments that offered higher levels of carry over convexity. We added to several positions over the month, specifically in lower-rated CCCs, as economic data continued to be resilient. Within this rating cohort, however, we have prioritized more idiosyncratic risk opportunities as opposed to adding broader risk exposure. To fund these purchases, we reduced allocations to longer-duration BBs and Single Bs that we viewed as offering limited relative value.

    • The Fund’s sector exposure remains balanced. The Fund is overweight the Energy and Transportation sectors, which finished the quarter as the top sector overweights. In Energy, we are constructive on the sector given resilient economic growth with potential for higher inflation and commodity prices. As for Transportation, we favor airline and air travel companies where fundamentals continue to be strong. However, we reduced the Fund’s overweight in Basic Industry, specifically in Chemicals, Metals and Mining which carry exposure to weaker economies in Europe and China as well as Building Materials given sensitivity towards higher rates. The Fund’s top sector underweights remained Media, where companies have excessive levels of leverage, and Consumer Goods and Services, which is driven by relative valuations.

    • We increased floating rate exposure within the Fund. We generally believe that select exposures to non-high yield sectors can offer attractive risk-reward opportunities, potential portfolio diversification benefits, and avenues for liquidity. The Fund has the flexibility to toggle allocations to off-benchmark asset classes, such as bank loans and convertible bonds. As bond yields moved higher over the quarter, we added floating rate exposure to the Fund, specifically through bank loans, given their lower interest rate sensitivity relative to high yield.

    • We are constructive on high yield credit amid a supportive macroeconomic environment and strong issuer fundamentals. We remain optimistic about the potential for high yield credit to deliver solid returns in 2025. Notably, spread valuations continue to be close to historic tights, but our view is that these valuation levels are supported given the current fundamental strength and higher-quality ratings mix among high yield issuers. Additionally, a supportive macroeconomic environment in the U.S., and accommodative financial conditions should help translate into lower issuer defaults in the year ahead. A high starting yield and lower expected default environment in 2025 should bode well for the asset class, which can be a strategic allocation for investors looking for income. Key risk factors to watch remain a resurgence of inflation that upends the narrative accommodative monetary policy, a pivot by issuers to more non-credit-friendly uses of debt finance, and a macro or policy driven spike of interest rate volatility that would leave investors flipping to defensive with less focus on credit. We look to be dynamic with our positioning in the Fund given this potential for increased market fluctuations.

    Portfolio Details as of 03/31/2025

    Total Net Assets
    $3.46 B
    Average Effective Duration
    3.3 Years
    Average Maturity
    4.8 Years
    Number of Issues
    704
    Average Yield to Maturity
    8.42%

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

    Holding Coupon Maturity Assets
    Holding
    Coupon
    Maturity
    Assets
    Vistra Operations Co LLC 7.750% 10/15/2031 0.7%
    CCO Holdings LLC / CCO Holdings Capital Corp 4.500% 08/15/2030 0.6%
    Venture Global LNG Inc 9.500% 02/01/2029 0.5%
    Iron Mountain Inc 5.625% 07/15/2032 0.5%
    Nissan Motor Co Ltd 4.810% 09/17/2030 0.5%
    EMRLD Borrower LP / Emerald Co-Issuer Inc 6.625% 12/15/2030 0.5%
    American Airlines Inc 7.250% 02/15/2028 0.4%
    Hughes Satellite Systems Corp 6.625% 08/01/2026 0.4%
    Altice France SA 5.125% 07/15/2029 0.4%
    Virgin Media Secured Finance PLC 5.500% 05/15/2029 0.4%
    % of Total Assets 4.9%
    Holding Coupon Maturity Assets
    Holding
    Coupon
    Maturity
    Assets
    Vistra Operations Co LLC7.750% 10/15/20310.6%
    CCO Holdings LLC / CCO Holdings Capital Corp4.500% 08/15/20300.5%
    Venture Global LNG Inc9.500% 02/01/20290.5%
    EMRLD Borrower LP / Emerald Co-Issuer Inc6.625% 12/15/20300.4%
    American Airlines Inc7.250% 02/15/20280.4%
    Hughes Satellite Systems Corp6.625% 08/01/20260.4%
    Nissan Motor Co Ltd4.810% 09/17/20300.4%
    JetBlue Airways Corp / JetBlue Loyalty LP9.875% 09/20/20310.4%
    Altice France SA5.125% 07/15/20290.4%
    Organon & Co / Organon Foreign Debt Co-Issuer BV7.875% 05/15/20340.4%
    Virgin Media Secured Finance PLC5.500% 05/15/20290.4%
    Iron Mountain Inc5.625% 07/15/20320.4%
    CSC Holdings LLC4.625% 12/01/20300.4%
    CCO Holdings LLC / CCO Holdings Capital Corp5.000% 02/01/20280.4%
    DISH DBS Corp5.125% 06/01/20290.4%
    VZ Secured Financing BV5.000% 01/15/20320.4%
    CSC Holdings LLC11.250% 05/15/20280.4%
    Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl4.625% 06/01/20280.4%
    Alloy Finco Ltd0.005% 03/06/20280.4%
    Nationstar Mortgage Holdings Inc7.125% 02/01/20320.4%
    Loarre Investments Sarl6.500% 05/15/20290.3%
    OneMain Finance Corp7.500% 05/15/20310.3%
    Jane Street Group / JSG Finance Inc7.125% 04/30/20310.3%
    CSC Holdings LLC11.750% 01/31/20290.3%
    EquipmentShare.com Inc9.000% 05/15/20280.3%
    Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp7.000% 07/15/20310.3%
    Hughes Satellite Systems Corp5.250% 08/01/20260.3%
    Rand Parent LLC8.500% 02/15/20300.3%
    ROCK Trust 2024-CNTR8.819% 11/13/20410.3%
    CCO Holdings LLC / CCO Holdings Capital Corp4.750% 03/01/20300.3%
    United Airlines Inc4.625% 04/15/20290.3%
    AMC Networks Inc4.250% 02/15/20290.3%
    Lightning Power LLC7.250% 08/15/20320.3%
    DaVita Inc4.625% 06/01/20300.3%
    Carnival Corp6.000% 05/01/20290.3%
    Cloud Software Group Inc6.500% 03/31/20290.3%
    Crescent Energy Finance LLC7.625% 04/01/20320.3%
    Ardonagh Finco Ltd7.750% 02/15/20310.3%
    ZF North America Capital Inc7.125% 04/14/20300.3%
    Saturn Oil & Gas Inc9.625% 06/15/20290.3%
    Cloud Software Group Inc9.000% 09/30/20290.3%
    Univision Communications Inc7.375% 06/30/20300.3%
    CHS/Community Health Systems Inc5.250% 05/15/20300.3%
    Virgin Media Finance PLC5.000% 07/15/20300.3%
    Walgreens Boots Alliance Inc8.125% 08/15/20290.3%
    ATI Inc5.125% 10/01/20310.3%
    Coinbase Global Inc3.375% 10/01/20280.3%
    Rain Carbon Inc12.250% 09/01/20290.3%
    Twilio Inc3.625% 03/15/20290.3%
    Navient Corp11.500% 03/15/20310.3%
    TGNR Intermediate Holdings LLC5.500% 10/15/20290.3%
    Port of Newcastle Investments Financing Pty Ltd5.900% 11/24/20310.3%
    Hecla Mining Co7.250% 02/15/20280.3%
    CommScope LLC4.750% 09/01/20290.3%
    Staples Inc10.750% 09/01/20290.3%
    Longfor Group Holdings Ltd3.950% 09/16/20290.3%
    Coeur Mining Inc5.125% 02/15/20290.3%
    Synchrony Financial7.250% 02/02/20330.3%
    LGI Homes Inc8.750% 12/15/20280.3%
    ASP Unifrax Holdings Inc10.425% 09/30/20290.3%
    Lumen Technologies Inc4.500% 01/15/20290.3%
    Encino Acquisition Partners Holdings LLC8.500% 05/01/20280.3%
    Comstock Resources Inc5.875% 01/15/20300.3%
    SunCoke Energy Inc4.875% 06/30/20290.3%
    Helix Energy Solutions Group Inc9.750% 03/01/20290.3%
    Coherent Corp5.000% 12/15/20290.3%
    X Corp10.924% 10/26/20290.3%
    Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC3.500% 03/15/20290.3%
    Hilton Domestic Operating Co Inc4.000% 05/01/20310.3%
    IHO Verwaltungs GmbH8.000% 11/15/20320.3%
    NRG Energy Inc10.250% 09/15/21730.3%
    Noble Finance II LLC8.000% 04/15/20300.3%
    Hunt Cos Inc5.250% 04/15/20290.3%
    EQM Midstream Partners LP7.500% 06/01/20300.3%
    Brandywine Operating Partnership LP8.875% 04/12/20290.2%
    CNX Resources Corp6.000% 01/15/20290.2%
    Oceaneering International Inc6.000% 02/01/20280.2%
    Inter Media and Communication SpA6.750% 02/09/20270.2%
    OneMain Finance Corp9.000% 01/15/20290.2%
    Viking Cruises Ltd9.125% 07/15/20310.2%
    Carvana Co9.000% 06/01/20300.2%
    Venture Global LNG Inc8.375% 06/01/20310.2%
    CNX Midstream Partners LP4.750% 04/15/20300.2%
    Wynn Resorts Finance LLC / Wynn Resorts Capital Corp7.125% 02/15/20310.2%
    Venture Global LNG Inc8.125% 06/01/20280.2%
    Lumen Technologies Inc6.787% 04/15/20300.2%
    Lumen Technologies Inc6.787% 04/16/20290.2%
    Altice France SA8.125% 02/01/20270.2%
    California Resources Corp8.250% 06/15/20290.2%
    Empire Resorts Inc7.750% 11/01/20260.2%
    Gray Media Inc10.500% 07/15/20290.2%
    Talen Energy Supply LLC8.625% 06/01/20300.2%
    ASP Unifrax Holdings Inc7.100% 09/30/20290.2%
    Vital Energy Inc7.750% 07/31/20290.2%
    Herens Midco Sarl5.250% 05/15/20290.2%
    CommScope LLC8.250% 03/01/20270.2%
    Mauser Packaging Solutions Holding Co9.250% 04/15/20270.2%
    Trulieve Cannabis Corp8.000% 10/06/20260.2%
    Rakuten Group Inc9.750% 04/15/20290.2%
    Aethon United BR LP / Aethon United Finance Corp7.500% 10/01/20290.2%
    Studio City Finance Ltd5.000% 01/15/20290.2%
    Valaris Ltd8.375% 04/30/20300.2%
    Bausch Health Americas Inc9.250% 04/01/20260.2%
    Fortress Transportation and Infrastructure Investors LLC7.875% 12/01/20300.2%
    Diamond Foreign Asset Co / Diamond Finance LLC8.500% 10/01/20300.2%
    Park-Ohio Industries Inc6.625% 04/15/20270.2%
    Mercer International Inc5.125% 02/01/20290.2%
    Cerdia Finanz GmbH9.375% 10/03/20310.2%
    Sunrise FinCo I BV4.875% 07/15/20310.2%
    Red Oak Power LLC8.310% 10/01/20300.2%
    Global Partners LP / GLP Finance Corp8.250% 01/15/20320.2%
    Outfront Media Capital LLC / Outfront Media Capital Corp7.375% 02/15/20310.2%
    GrafTech Global Enterprises Inc9.875% 12/23/20290.2%
    Fibercop SpA6.375% 11/15/20330.2%
    Curaleaf Holdings Inc8.000% 12/15/20260.2%
    Vornado Realty LP3.400% 06/01/20310.2%
    Miller Homes Group Finco PLC7.000% 05/15/20290.2%
    DISH Network Corp11.750% 11/15/20270.2%
    Penn Entertainment Inc4.125% 07/01/20290.2%
    Buckeye Partners LP4.125% 12/01/20270.2%
    Sabre GLBL Inc8.625% 06/01/20270.2%
    Intesa Sanpaolo SpA4.198% 06/01/20320.2%
    Sotheby's7.375% 10/15/20270.2%
    Samarco Mineracao SA9.000% 06/30/20310.2%
    Carvana Co9.000% 12/01/20280.2%
    Taseko Mines Ltd8.250% 05/01/20300.2%
    Victoria's Secret & Co4.625% 07/15/20290.2%
    Goodyear Tire & Rubber Co/The5.250% 07/15/20310.2%
    Carriage Purchaser Inc7.875% 10/15/20290.2%
    Eldorado Gold Corp6.250% 09/01/20290.2%
    Flutter Treasury DAC6.375% 04/29/20290.2%
    Seaspan Corp5.500% 08/01/20290.2%
    Builders FirstSource Inc6.375% 06/15/20320.2%
    CITGO Petroleum Corp8.375% 01/15/20290.2%
    Ivanhoe Mines Ltd7.875% 01/23/20300.2%
    GFL Environmental Inc6.750% 01/15/20310.2%
    GrubHub Holdings Inc5.500% 07/01/20270.2%
    Algonquin Power & Utilities Corp4.750% 01/18/20820.2%
    AmeriTex HoldCo Intermediate LLC10.250% 10/15/20280.2%
    Cushman & Wakefield US Borrower LLC8.875% 09/01/20310.2%
    Iris Holding Inc10.000% 12/15/20280.2%
    Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer6.750% 04/15/20280.2%
    Newmark Group Inc7.500% 01/12/20290.2%
    Maxim Crane Works Holdings Capital LLC11.500% 09/01/20280.2%
    Baytex Energy Corp7.375% 03/15/20320.2%
    Allied Universal Holdco LLC / Allied Universal Finance Corp6.000% 06/01/20290.2%
    MIWD Holdco II LLC / MIWD Finance Corp5.500% 02/01/20300.2%
    Ardonagh Group Finance Ltd8.875% 02/15/20320.2%
    Freedom Mortgage Corp12.000% 10/01/20280.2%
    MEG Energy Corp5.875% 02/01/20290.2%
    VistaJet Malta Finance PLC / Vista Management Holding Inc7.875% 05/01/20270.2%
    StoneX Group Inc7.875% 03/01/20310.2%
    NOVA Chemicals Corp9.000% 02/15/20300.2%
    Smyrna Ready Mix Concrete LLC8.875% 11/15/20310.2%
    Saks Global Enterprises LLC11.000% 12/15/20290.2%
    Amsted Industries Inc6.375% 03/15/20330.2%
    Bread Financial Holdings Inc9.750% 03/15/20290.2%
    FMG Resources August 2006 Pty Ltd6.125% 04/15/20320.2%
    First Quantum Minerals Ltd8.625% 06/01/20310.2%
    CNX Resources Corp7.375% 01/15/20310.2%
    GEO Group Inc/The10.250% 04/15/20310.2%
    Brand Industrial Services Inc10.375% 08/01/20300.2%
    Brightline East LLC11.000% 01/31/20300.2%
    Limak Iskenderun Uluslararasi Liman Isletmeciligi AS9.500% 07/10/20360.2%
    Borr IHC Ltd / Borr Finance LLC10.000% 11/15/20280.2%
    Vermilion Energy Inc6.875% 05/01/20300.2%
    Block Inc6.500% 05/15/20320.2%
    Freedom Mortgage Holdings LLC9.125% 05/15/20310.2%
    American Airlines Inc/AAdvantage Loyalty IP Ltd5.750% 04/20/20290.2%
    Navient Corp9.375% 07/25/20300.2%
    Ascent Resources Utica Holdings LLC / ARU Finance Corp5.875% 06/30/20290.2%
    CVR Partners LP / CVR Nitrogen Finance Corp6.125% 06/15/20280.2%
    Genting New York LLC / GENNY Capital Inc7.250% 10/01/20290.2%
    ACBL HLDG CORP0.000% 09/09/99990.2%
    Vistra Corp7.000% 06/15/21730.2%
    Fortress Transportation and Infrastructure Investors LLC7.000% 05/01/20310.2%
    Nissan Motor Acceptance Co LLC2.750% 03/09/20280.2%
    Landsea Homes Corp8.875% 04/01/20290.2%
    PennyMac Financial Services Inc7.875% 12/15/20290.2%
    Belo Corp7.250% 09/15/20270.2%
    Cloud Software Group Inc8.250% 06/30/20320.2%
    Champions Financing Inc9.087% 02/23/20290.2%
    McGraw-Hill Education Inc5.750% 08/01/20280.2%
    Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC7.250% 02/15/20310.2%
    Texas Capital Bank NA5.250% 01/31/20260.2%
    Aretec Group Inc10.000% 08/15/20300.2%
    Mersin Uluslararasi Liman Isletmeciligi AS8.250% 11/15/20280.2%
    Gatwick Airport Finance PLC4.375% 04/07/20260.2%
    LABL Inc9.500% 11/01/20280.2%
    Harvest Midstream I LP7.500% 05/15/20320.2%
    Civitas Resources Inc8.625% 11/01/20300.2%
    CP Atlas Buyer Inc7.000% 12/01/20280.2%
    Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp4.875% 05/01/20290.2%
    TransDigm Inc4.625% 01/15/20290.2%
    Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC8.125% 02/15/20320.2%
    P&L Development LLC / PLD Finance Corp12.000% 05/15/20290.2%
    Crescent Energy Finance LLC7.375% 01/15/20330.2%
    M/I Homes Inc4.950% 02/01/20280.2%
    Bausch Health Cos Inc4.875% 06/01/20280.2%
    SINCLAIR TELEVISION GROUP INC8.523% 12/31/20300.2%
    Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp6.875% 12/01/20320.2%
    STL Holding Co LLC8.750% 02/15/20290.2%
    Genesis Energy LP / Genesis Energy Finance Corp8.875% 04/15/20300.2%
    CSC Holdings LLC6.500% 02/01/20290.2%
    Vital Energy Inc7.875% 04/15/20320.2%
    Popular Inc7.250% 03/13/20280.2%
    Market Bidco Finco PLC5.500% 11/04/20270.2%
    VistaJet Malta Finance PLC / Vista Management Holding Inc6.375% 02/01/20300.2%
    Leeward Renewable Energy Operations LLC4.250% 07/01/20290.2%
    Star Leasing Co LLC7.625% 02/15/20300.2%
    888 Acquisitions Ltd10.750% 05/15/20300.2%
    Texas Capital Bancshares Inc4.000% 05/06/20310.2%
    VF Ukraine PAT via VFU Funding PLC9.625% 02/11/20270.2%
    Smyrna Ready Mix Concrete LLC6.000% 11/01/20280.2%
    Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC4.750% 04/15/20280.2%
    Western Alliance Bancorp3.000% 06/15/20310.2%
    Plaskolite PPC Intermediate II LLC8.580% 12/15/20250.2%
    Dermatology Intermediate Holdings III Inc9.802% 04/02/20290.2%
    Coronado Finance Pty Ltd9.250% 10/01/20290.2%
    Resorts World Las Vegas LLC / RWLV Capital Inc4.625% 04/06/20310.2%
    Aston Martin Capital Holdings Ltd10.000% 03/31/20290.2%
    Comstock Resources Inc6.750% 03/01/20290.2%
    Piedmont Operating Partnership LP6.875% 07/15/20290.2%
    TK Elevator US Newco Inc5.250% 07/15/20270.2%
    Civitas Resources Inc8.750% 07/01/20310.2%
    Gulfport Energy Operating Corp6.750% 09/01/20290.2%
    ROBLOX Corp3.875% 05/01/20300.2%
    Turning Point Brands Inc7.625% 03/15/20320.2%
    PRA Group Inc8.875% 01/31/20300.2%
    Zegona Finance PLC8.625% 07/15/20290.2%
    Directv Financing LLC / Directv Financing Co-Obligor Inc5.875% 08/15/20270.2%
    Minerals Technologies Inc5.000% 07/01/20280.2%
    GGAM Finance Ltd8.000% 02/15/20270.2%
    Heathrow Finance PLC6.625% 03/01/20310.2%
    Freedom Mortgage Holdings LLC9.250% 02/01/20290.2%
    PennyMac Financial Services Inc5.750% 09/15/20310.2%
    Canpack SA / Canpack US LLC3.875% 11/15/20290.2%
    Kimmeridge Texas Gas LLC8.500% 02/15/20300.2%
    DPL Inc4.350% 04/15/20290.2%
    Transocean Inc6.800% 03/15/20380.2%
    Spin Holdco Inc8.319% 03/06/20280.2%
    EnerSys6.625% 01/15/20320.2%
    BellRing Brands Inc7.000% 03/15/20300.2%
    Parkland Corp6.625% 08/15/20320.2%
    JB Poindexter & Co Inc8.750% 12/15/20310.2%
    Waste Pro USA Inc7.000% 02/01/20330.2%
    Delek Logistics Partners LP / Delek Logistics Finance Corp7.125% 06/01/20280.2%
    Antero Midstream Partners LP / Antero Midstream Finance Corp5.375% 06/15/20290.2%
    Iron Mountain Inc5.250% 07/15/20300.2%
    MC Brazil Downstream Trading SARL7.250% 06/30/20310.2%
    McAfee Corp7.375% 02/15/20300.2%
    City Football Group Ltd7.426% 07/22/20300.2%
    Arko Corp5.125% 11/15/20290.2%
    Aris Mining Corp8.000% 10/31/20290.2%
    Sealed Air Corp6.500% 07/15/20320.2%
    Algoma Steel Inc9.125% 04/15/20290.2%
    NRG Energy Inc6.000% 02/01/20330.2%
    PetSmart Inc / PetSmart Finance Corp4.750% 02/15/20280.2%
    ContourGlobal Power Holdings SA6.750% 02/28/20300.1%
    Acadia Healthcare Co Inc5.000% 04/15/20290.1%
    ACProducts Holdings Inc6.375% 05/15/20290.1%
    SINCLAIR TELEVISION GROUP INC7.737% 12/31/20290.1%
    Kraken Oil & Gas Partners LLC7.625% 08/15/20290.1%
    Goat Holdco LLC6.750% 02/01/20320.1%
    ASK Chemicals Deutschland Holding GmbH10.000% 11/15/20290.1%
    Arsenal AIC Parent LLC8.000% 10/01/20300.1%
    Park River Holdings Inc6.750% 08/01/20290.1%
    NGL Energy Operating LLC / NGL Energy Finance Corp8.375% 02/15/20320.1%
    Ahlstrom Holding 3 Oy4.875% 02/04/20280.1%
    Societe Generale SA9.375% 05/22/21730.1%
    Emergent BioSolutions Inc3.875% 08/15/20280.1%
    Wildfire Intermediate Holdings LLC7.500% 10/15/20290.1%
    Gray Media Inc5.375% 11/15/20310.1%
    Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer7.000% 02/01/20300.1%
    LSB Industries Inc6.250% 10/15/20280.1%
    Tank Holding Corp10.424% 03/31/20280.1%
    Baytex Energy Corp8.500% 04/30/20300.1%
    Olympus Water US Holding Corp9.750% 11/15/20280.1%
    Global Medical Response Inc6.500% 10/01/20250.1%
    Blue Racer Midstream LLC / Blue Racer Finance Corp7.000% 07/15/20290.1%
    Credit Acceptance Corp6.625% 03/15/20300.1%
    ATI Inc7.250% 08/15/20300.1%
    Vermilion Energy Inc7.250% 02/15/20330.1%
    Provident Funding Associates LP / PFG Finance Corp9.750% 09/15/20290.1%
    OneMain Finance Corp7.125% 11/15/20310.1%
    Olympus Water US Holding Corp7.250% 06/15/20310.1%
    Acuris Finance US Inc / Acuris Finance SARL9.000% 08/01/20290.1%
    Nabors Industries Inc8.875% 08/15/20310.1%
    Real Hero Merger Sub 2 Inc6.250% 02/01/20290.1%
    SM Energy Co7.000% 08/01/20320.1%
    GPS Hospitality Holding Co LLC / GPS Finco Inc7.000% 08/15/20280.1%
    CQP Holdco LP / BIP-V Chinook Holdco LLC5.500% 06/15/20310.1%
    Flagstar Financial Inc7.343% 11/06/20280.1%
    CHS/Community Health Systems Inc4.750% 02/15/20310.1%
    Bausch Health Cos Inc6.125% 02/01/20270.1%
    US Acute Care Solutions LLC9.750% 05/15/20290.1%
    PetSmart Inc / PetSmart Finance Corp7.750% 02/15/20290.1%
    TEGNA Inc5.000% 09/15/20290.1%
    YPF SA8.250% 01/17/20340.1%
    YPF SA9.500% 01/17/20310.1%
    PBF Holding Co LLC / PBF Finance Corp7.875% 09/15/20300.1%
    Genesis Energy LP / Genesis Energy Finance Corp8.250% 01/15/20290.1%
    Global Auto Holdings Ltd/AAG FH UK Ltd11.500% 08/15/20290.1%
    Stride Inc1.125% 09/01/20270.1%
    OSI Systems Inc2.250% 08/01/20290.1%
    Nationstar Mortgage Holdings Inc6.500% 08/01/20290.1%
    Jane Street Group / JSG Finance Inc4.500% 11/15/20290.1%
    Warrior Met Coal Inc7.875% 12/01/20280.1%
    Dream Finders Homes Inc8.250% 08/15/20280.1%
    Hudbay Minerals Inc6.125% 04/01/20290.1%
    VFH Parent LLC / Valor Co-Issuer Inc7.500% 06/15/20310.1%
    CD&R Firefly Bidco PLC8.625% 04/30/20290.1%
    Sorik Marapi Geothermal Power PT7.750% 08/05/20310.1%
    Methanex Corp5.250% 12/15/20290.1%
    Seadrill Finance Ltd8.375% 08/01/20300.1%
    SM Energy Co6.750% 08/01/20290.1%
    Buckeye Partners LP6.875% 07/01/20290.1%
    AltaGas Ltd7.200% 10/15/20540.1%
    GYP Holdings III Corp4.625% 05/01/20290.1%
    Vallourec SACA7.500% 04/15/20320.1%
    Sunoco LP / Sunoco Finance Corp7.000% 09/15/20280.1%
    RingCentral Inc8.500% 08/15/20300.1%
    Bellis Finco PLC4.000% 02/16/20270.1%
    FMG Resources August 2006 Pty Ltd5.875% 04/15/20300.1%
    Stena International SA7.250% 01/15/20310.1%
    CCO Holdings LLC / CCO Holdings Capital Corp6.375% 09/01/20290.1%
    Wyndham Hotels & Resorts Inc4.375% 08/15/20280.1%
    Cinemark USA Inc7.000% 08/01/20320.1%
    Entegris Inc3.625% 05/01/20290.1%
    Forestar Group Inc3.850% 05/15/20260.1%
    South Field Energy LLC8.063% 08/29/20310.1%
    Churchill Downs Inc4.750% 01/15/20280.1%
    Terex Corp5.000% 05/15/20290.1%
    Mueller Water Products Inc4.000% 06/15/20290.1%
    Arcosa Inc4.375% 04/15/20290.1%
    BCPE Empire Holdings Inc7.625% 05/01/20270.1%
    Benteler International AG10.500% 05/15/20280.1%
    Cinemark USA Inc5.250% 07/15/20280.1%
    Full House Resorts Inc8.250% 02/15/20280.1%
    CPI CG Inc10.000% 07/15/20290.1%
    Vertiv Group Corp4.125% 11/15/20280.1%
    Bombardier Inc8.750% 11/15/20300.1%
    Matador Resources Co6.500% 04/15/20320.1%
    Borr IHC Ltd / Borr Finance LLC10.375% 11/15/20300.1%
    Tidewater Inc10.375% 07/03/20280.1%
    Resideo Funding Inc6.500% 07/15/20320.1%
    PRA Group Inc5.000% 10/01/20290.1%
    FirstCash Inc5.625% 01/01/20300.1%
    Tyler Technologies Inc0.250% 03/15/20260.1%
    EquipmentShare.com Inc8.625% 05/15/20320.1%
    NCR Atleos Corp9.500% 04/01/20290.1%
    Jones Deslauriers Insurance Management Inc10.500% 12/15/20300.1%
    Encino Acquisition Partners Holdings LLC8.750% 05/01/20310.1%
    LeMaitre Vascular Inc2.500% 02/01/20300.1%
    Iceland Bondco PLC10.875% 12/15/20270.1%
    Royal Caribbean Cruises Ltd6.250% 03/15/20320.1%
    Sea Ltd2.375% 12/01/20250.1%
    Rekeep SpA9.000% 09/15/20290.1%
    Dana Inc4.250% 09/01/20300.1%
    Shea Homes LP / Shea Homes Funding Corp4.750% 02/15/20280.1%
    Iliad Holding SASU8.500% 04/15/20310.1%
    Uniti Group LP / Uniti Fiber Holdings Inc / CSL Capital LLC6.000% 01/15/20300.1%
    Kodiak Gas Services LLC7.250% 02/15/20290.1%
    VOC Escrow Ltd5.000% 02/15/20280.1%
    Talos Production Inc9.000% 02/01/20290.1%
    NESCO Holdings II Inc5.500% 04/15/20290.1%
    Boyne USA Inc4.750% 05/15/20290.1%
    TriNet Group Inc7.125% 08/15/20310.1%
    Beacon Roofing Supply Inc4.125% 05/15/20290.1%
    FMG Resources August 2006 Pty Ltd4.375% 04/01/20310.1%
    Iron Mountain Inc6.250% 01/15/20330.1%
    Perrigo Finance Unlimited Co4.900% 06/15/20300.1%
    Post Holdings Inc4.625% 04/15/20300.1%
    Churchill Downs Inc5.750% 04/01/20300.1%
    Range Resources Corp4.750% 02/15/20300.1%
    Alliance Resource Operating Partners LP / Alliance Resource Finance Corp8.625% 06/15/20290.1%
    GGAM Finance Ltd8.000% 06/15/20280.1%
    HLF Financing Sarl LLC / Herbalife International Inc12.250% 04/15/20290.1%
    Dornoch Debt Merger Sub Inc6.625% 10/15/20290.1%
    Molina Healthcare Inc3.875% 11/15/20300.1%
    PennyMac Financial Services Inc7.125% 11/15/20300.1%
    Lumen Technologies Inc5.375% 06/15/20290.1%
    Victra Holdings LLC / Victra Finance Corp8.750% 09/15/20290.1%
    Woodward Inc0.000% 09/09/99990.1%
    LCM Investments Holdings II LLC8.250% 08/01/20310.1%
    EQM Midstream Partners LP4.750% 01/15/20310.1%
    Kennedy-Wilson Inc4.750% 02/01/20300.1%
    LCM Investments Holdings II LLC4.875% 05/01/20290.1%
    Virtusa Corp7.125% 12/15/20280.1%
    Griffon Corp5.750% 03/01/20280.1%
    South Bow Canadian Infrastructure Holdings Ltd7.625% 03/01/20550.1%
    RR Donnelley & Sons Co9.500% 08/01/20290.1%
    KeyCorp5.000% 12/15/21730.1%
    Group 1 Automotive Inc6.375% 01/15/20300.1%
    EQM Midstream Partners LP6.375% 04/01/20290.1%
    180 Medical Inc3.875% 10/15/20290.1%
    Alcoa Nederland Holding BV7.125% 03/15/20310.1%
    Kennedy-Wilson Inc5.000% 03/01/20310.1%
    Newell Brands Inc6.625% 09/15/20290.1%
    Vistra Operations Co LLC4.375% 05/01/20290.1%
    EMRLD Borrower LP / Emerald Co-Issuer Inc6.750% 07/15/20310.1%
    Moss Creek Resources Holdings Inc8.250% 09/01/20310.1%
    Artivion Inc4.250% 07/01/20250.1%
    Bellis Acquisition Co PLC8.125% 05/14/20300.1%
    Bloomin' Brands Inc / OSI Restaurant Partners LLC5.125% 04/15/20290.1%
    ASG Finance Designated Activity Co9.750% 05/15/20290.1%
    YPF Energia Electrica SA7.875% 10/16/20320.1%
    NCL Corp Ltd5.875% 02/15/20270.1%
    Resideo Funding Inc4.000% 09/01/20290.1%
    Seagate HDD Cayman8.500% 07/15/20310.1%
    Upstart Holdings Inc2.000% 10/01/20290.1%
    Axalta Coating Systems Dutch Holding B BV7.250% 02/15/20310.1%
    Gap Inc/The3.875% 10/01/20310.1%
    PBF Holding Co LLC / PBF Finance Corp6.000% 02/15/20280.1%
    Bausch Health Cos Inc11.000% 09/30/20280.1%
    Hilcorp Energy I LP / Hilcorp Finance Co6.250% 11/01/20280.1%
    Transocean Inc8.250% 05/15/20290.1%
    Pitney Bowes Inc7.250% 03/15/20290.1%
    Rfna LP7.875% 02/15/20300.1%
    Anastasia Parent LLC8.047% 08/11/20250.1%
    Dycom Industries Inc4.500% 04/15/20290.1%
    Fortress Transportation and Infrastructure Investors LLC5.500% 05/01/20280.1%
    Panther Escrow Issuer LLC7.125% 06/01/20310.1%
    LFS Topco LLC5.875% 10/15/20260.1%
    Lamb Weston Holdings Inc4.125% 01/31/20300.1%
    ams-OSRAM AG10.500% 03/30/20290.1%
    ATS Corp4.125% 12/15/20280.1%
    Oscar AcquisitionCo LLC / Oscar Finance Inc9.500% 04/15/20300.1%
    Univision Communications Inc8.500% 07/31/20310.1%
    Jones Deslauriers Insurance Management Inc8.500% 03/15/20300.1%
    SPX FLOW Inc8.750% 04/01/20300.1%
    AG Issuer LLC6.250% 03/01/20280.1%
    Trident TPI Holdings Inc12.750% 12/31/20280.1%
    Edge Finco PLC8.125% 08/15/20310.1%
    Enstall Group BV9.313% 08/30/20280.1%
    Commercial Metals Co4.125% 01/15/20300.1%
    Cougar JV Subsidiary LLC8.000% 05/15/20320.1%
    Capstone Borrower Inc8.000% 06/15/20300.1%
    Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer4.875% 05/15/20290.1%
    PG&E Corp7.375% 03/15/20550.1%
    Husky Injection Molding Systems Ltd / Titan Co-Borrower LLC9.000% 02/15/20290.1%
    DaVita Inc6.875% 09/01/20320.1%
    AdaptHealth LLC5.125% 03/01/20300.1%
    Simmons Foods Inc/Simmons Prepared Foods Inc/Simmons Pet Food Inc/Simmons Feed4.625% 03/01/20290.1%
    IAMGOLD Corp5.750% 10/15/20280.1%
    Walgreens Boots Alliance Inc3.450% 06/01/20260.1%
    Raising Cane's Restaurants LLC9.375% 05/01/20290.1%
    Cheplapharm Arzneimittel GmbH5.500% 01/15/20280.1%
    ZF North America Capital Inc6.875% 04/14/20280.1%
    Global Marine Inc7.000% 06/01/20280.1%
    Wabash National Corp4.500% 10/15/20280.1%
    Asbury Automotive Group Inc5.000% 02/15/20320.1%
    Life Time Inc6.000% 11/15/20310.1%
    Madison IAQ LLC5.875% 06/30/20290.1%
    Novelis Inc6.875% 01/30/20300.1%
    Stena International SA7.625% 02/15/20310.1%
    US Foods Inc4.625% 06/01/20300.1%
    Clydesdale Acquisition Holdings Inc8.750% 04/15/20300.1%
    Venture Global LNG Inc9.000% 03/30/21730.1%
    Adient Global Holdings Ltd8.250% 04/15/20310.1%
    Albion Financing 2 Sarl8.750% 04/15/20270.1%
    Medline Borrower LP3.875% 04/01/20290.1%
    Brink's Co/The6.750% 06/15/20320.1%
    Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer6.500% 10/01/20310.1%
    ON Semiconductor Corp3.875% 09/01/20280.1%
    Jazz Securities DAC4.375% 01/15/20290.1%
    Post Holdings Inc4.500% 09/15/20310.1%
    Suburban Propane Partners LP/Suburban Energy Finance Corp5.000% 06/01/20310.1%
    SK Invictus Intermediate II Sarl5.000% 10/30/20290.1%
    Carpenter Technology Corp7.625% 03/15/20300.1%
    HUB International Ltd7.375% 01/31/20320.1%
    Melco Resorts Finance Ltd7.625% 04/17/20320.1%
    Novelis Corp3.875% 08/15/20310.1%
    Waga Bondco Ltd8.500% 06/15/20300.1%
    Raven Acquisition Holdings LLC6.875% 11/15/20310.1%
    Conair Holdings LLC8.176% 05/17/20280.1%
    WaterBridge Midstream Operating LLC9.077% 06/27/20290.1%
    Hilton Grand Vacations Borrower LLC / Hilton Grand Vacations Borrower Inc6.625% 01/15/20320.1%
    Rocket Software Inc6.500% 02/15/20290.1%
    Celanese US Holdings LLC6.580% 07/15/20290.1%
    Boparan Finance PLC9.375% 11/07/20290.1%
    Taylor Morrison Communities Inc5.875% 06/15/20270.1%
    Esab Corp6.250% 04/15/20290.1%
    Mobico Group PLC4.250% 02/26/21740.1%
    NCL Corp Ltd8.125% 01/15/20290.1%
    LABL Inc8.625% 10/01/20310.1%
    Brandywine Operating Partnership LP4.550% 10/01/20290.1%
    Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer5.875% 11/01/20290.1%
    Foot Locker Inc4.000% 10/01/20290.1%
    Clydesdale Acquisition Holdings Inc6.875% 01/15/20300.1%
    Ally Financial Inc4.700% 08/15/21730.1%
    Boise Cascade Co4.875% 07/01/20300.1%
    Sitio Royalties Operating Partnership LP / Sitio Finance Corp7.875% 11/01/20280.1%
    Hess Midstream Operations LP5.125% 06/15/20280.1%
    Seagate HDD Cayman8.250% 12/15/20290.1%
    SIG PLC9.750% 10/31/20290.1%
    Cablevision Lightpath LLC5.625% 09/15/20280.1%
    X Corp9.500% 10/29/20290.1%
    Azul Secured Finance LLP11.930% 08/28/20280.1%
    Royal Caribbean Cruises Ltd6.000% 02/01/20330.1%
    Hilcorp Energy I LP / Hilcorp Finance Co6.000% 02/01/20310.1%
    Grupo Antolin-Irausa SA10.375% 01/30/20300.1%
    Level 3 Financing Inc4.500% 04/01/20300.1%
    Patrick Industries Inc6.375% 11/01/20320.1%
    EPIC Y-Grade Services LP10.046% 06/29/20290.1%
    Vibrantz Technologies Inc9.000% 02/15/20300.1%
    Caesars Entertainment Inc7.000% 02/15/20300.1%
    Clue Opco LLC9.500% 10/15/20310.1%
    Nordstrom Inc4.375% 04/01/20300.1%
    GGAM Finance Ltd6.875% 04/15/20290.1%
    Kronos Acquisition Holdings Inc8.288% 07/08/20310.1%
    Lions Gate Capital Holdings 1 Inc5.500% 04/15/20290.1%
    SNF Group SACA3.375% 03/15/20300.1%
    XPO Inc7.125% 02/01/20320.1%
    Ingevity Corp3.875% 11/01/20280.1%
    LifePoint Health Inc5.375% 01/15/20290.1%
    Blackstone Mortgage Trust Inc7.750% 12/01/20290.1%
    Bombardier Inc7.250% 07/01/20310.1%
    United States Steel Corp6.650% 06/01/20370.1%
    Vista Energy Argentina SAU7.625% 12/10/20350.1%
    1011778 BC ULC / New Red Finance Inc6.125% 06/15/20290.1%
    Cogent Communications Group LLC7.000% 06/15/20270.1%
    Mahle GmbH6.500% 05/02/20310.1%
    HubSpot Inc0.375% 06/01/20250.1%
    Fair Isaac Corp4.000% 06/15/20280.1%
    Archrock Partners LP / Archrock Partners Finance Corp6.625% 09/01/20320.1%
    Bombardier Inc7.000% 06/01/20320.1%
    CHS/Community Health Systems Inc6.125% 04/01/20300.1%
    West China Cement Ltd4.950% 07/08/20260.1%
    CoreCivic Inc8.250% 04/15/20290.1%
    Precision Drilling Corp6.875% 01/15/20290.1%
    Great Lakes Dredge & Dock Corp5.250% 06/01/20290.1%
    LifePoint Health Inc11.000% 10/15/20300.1%
    Allison Transmission Inc3.750% 01/30/20310.1%
    Northriver Midstream Finance LP6.750% 07/15/20320.1%
    Jefferson Capital Holdings LLC6.000% 08/15/20260.1%
    ION Trading Technologies Sarl9.500% 05/30/20290.1%
    Jacobs Entertainment Inc6.750% 02/15/20290.1%
    INEOS Finance PLC7.500% 04/15/20290.1%
    Molina Healthcare Inc3.875% 05/15/20320.1%
    Lsf12 Crown US Commercial Bidco LLC8.573% 12/02/20310.1%
    Energy Transfer LP8.000% 05/15/20540.1%
    Star Parent Inc9.000% 10/01/20300.1%
    Talos Production Inc9.375% 02/01/20310.1%
    Alta Equipment Group Inc9.000% 06/01/20290.1%
    Affirm Holdings Inc0.750% 12/15/20290.1%
    Global Auto Holdings Ltd/AAG FH UK Ltd8.375% 01/15/20290.1%
    Aston Martin Capital Holdings Ltd10.375% 03/31/20290.1%
    Stonegate Pub Co Financing 2019 PLC10.750% 07/31/20290.1%
    Shelf Drilling Holdings Ltd9.625% 04/15/20290.1%
    AthenaHealth Group Inc6.500% 02/15/20300.1%
    Pediatrix Medical Group Inc5.375% 02/15/20300.1%
    Century Communities Inc3.875% 08/15/20290.1%
    Permian Resources Operating LLC9.875% 07/15/20310.1%
    NRG Energy Inc7.000% 03/15/20330.1%
    Directv Financing LLC8.875% 02/01/20300.1%
    Owens & Minor Inc6.625% 04/01/20300.1%
    Macy's Retail Holdings LLC5.875% 04/01/20290.1%
    Transocean Inc7.500% 04/15/20310.1%
    Staples Inc12.750% 01/15/20300.1%
    WR Grace Holdings LLC5.625% 08/15/20290.1%
    LifePoint Health Inc9.875% 08/15/20300.1%
    CHS/Community Health Systems Inc6.875% 04/15/20290.1%
    Weekley Homes LLC / Weekley Finance Corp4.875% 09/15/20280.1%
    Ocado Group PLC10.500% 08/08/20290.1%
    UBS Group AG7.750% 04/12/21730.1%
    Navient Corp4.875% 03/15/20280.1%
    Level 3 Financing Inc3.625% 01/15/20290.1%
    AMC Entertainment Holdings Inc7.500% 02/15/20290.1%
    Iceland Bondco PLC10.875% 12/15/20270.1%
    USA Compression Partners LP / USA Compression Finance Corp7.125% 03/15/20290.1%
    Calumet Specialty Products Partners LP / Calumet Finance Corp9.750% 07/15/20280.1%
    Virgin Media Bristol LLC7.687% 01/31/20290.1%
    Specialty Building Products Holdings LLC / SBP Finance Corp7.750% 10/15/20290.1%
    Ingles Markets Inc4.000% 06/15/20310.1%
    Sealed Air Corp6.875% 07/15/20330.1%
    Bausch Health Cos Inc5.250% 02/15/20310.1%
    LifePoint Health Inc10.000% 06/01/20320.1%
    Watco Cos LLC / Watco Finance Corp7.125% 08/01/20320.1%
    NRG Energy Inc5.250% 06/15/20290.1%
    Masterbrand Inc7.000% 07/15/20320.1%
    Sunnova Energy Corp5.875% 09/01/20260.1%
    CD&R Firefly Bidco PLC8.625% 04/30/20290.1%
    Zebra Technologies Corp6.500% 06/01/20320.1%
    Kosmos Energy Ltd7.500% 03/01/20280.1%
    Sunac China Holdings Ltd0.000% 09/30/20280.1%
    Perrigo Finance Unlimited Co6.125% 09/30/20320.1%
    Transocean Aquila Ltd8.000% 09/30/20280.1%
    Efesto Bidco S.p.A Efesto US LLC7.500% 02/15/20320.1%
    Constant Contact Inc11.797% 02/12/20290.1%
    ION Trading Technologies Sarl5.750% 05/15/20280.1%
    ILFC E-Capital Trust I6.149% 12/21/20650.1%
    Helios Software Holdings Inc / ION Corporate Solutions Finance Sarl8.750% 05/01/20290.1%
    Mercer International Inc12.875% 10/01/20280.1%
    Lumen Technologies Inc4.125% 04/15/20290.1%
    Chrome Holdco SAS5.000% 05/31/20290.1%
    MicroStrategy Inc0.625% 03/15/20300.1%
    Lumen Technologies Inc4.125% 04/15/20300.1%
    Long Ridge Energy LLC8.750% 02/15/20320.1%
    Mitchell International Inc9.562% 06/17/20320.1%
    Matador Resources Co6.875% 04/15/20280.1%
    EnerSys4.375% 12/15/20270.1%
    Permian Resources Operating LLC6.250% 02/01/20330.1%
    Tenneco Inc8.000% 11/17/20280.1%
    ILFC E-Capital Trust II6.399% 12/21/20650.1%
    Michaels Cos Inc/The7.875% 05/01/20290.1%
    CHS/Community Health Systems Inc6.875% 04/01/20280.1%
    Navient Corp5.500% 03/15/20290.1%
    Sabre GLBL Inc11.250% 12/15/20270.1%
    Ascent Resources Utica Holdings LLC / ARU Finance Corp6.625% 10/15/20320.1%
    Tecpetrol SA7.625% 01/22/20330.1%
    Williams Scotsman Inc6.625% 06/15/20290.1%
    Banco de Galicia y Buenos Aires SAU7.750% 10/10/20280.1%
    GIBSON BRANDS PRIVATE EQUITY0.000% 09/09/99990.1%
    Camelot Return Merger Sub Inc8.750% 08/01/20280.1%
    Level 3 Financing Inc4.250% 07/01/20280.1%
    Ocado Group PLC10.500% 08/08/20290.1%
    First Quantum Minerals Ltd8.000% 03/01/20330.1%
    GRAFTECH FINANCE INC10.322% 12/21/20290.1%
    Nissan Motor Acceptance Co LLC7.050% 09/15/20280.1%
    Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC6.250% 03/15/20330.1%
    Sinclair Television Group Inc8.125% 02/15/20330.1%
    Biocon Biologics Global PLC6.670% 10/09/20290.1%
    Brundage-Bone Concrete Pumping Holdings Inc7.500% 02/01/20320.1%
    Alpha Generation LLC6.750% 10/15/20320.1%
    Adtalem Global Education Inc5.500% 03/01/20280.1%
    Arcosa Inc6.875% 08/15/20320.1%
    New Frontera Holdings LLC16.300% 07/28/20260.1%
    Constant Contact Inc8.297% 02/10/20280.1%
    Armor Holdco Inc8.500% 11/15/20290.1%
    IMA Industria Macchine Automatiche SpA6.535% 04/15/20290.1%
    UTEX INDUSTRIES0.000% 09/09/99990.1%
    Herens Holdco Sarl4.750% 05/15/20280.0%
    UC HOLDINGS INC.0.000% 09/09/99990.0%
    Lumen Technologies Inc7.650% 03/15/20420.0%
    New Enterprise Stone & Lime Co Inc5.250% 07/15/20280.0%
    Calumet Specialty Products Partners LP / Calumet Finance Corp8.125% 01/15/20270.0%
    Freedom Mortgage Corp12.250% 10/01/20300.0%
    UBS Group AG9.250% 05/13/21730.0%
    Constellium SE5.625% 06/15/20280.0%
    Vital Energy Inc9.750% 10/15/20300.0%
    Rekeep SpA9.000% 09/15/20290.0%
    PHYSICIAN PARTNERS LLC10.312% 12/31/20290.0%
    ESC 144A HERTZ CORP0.000% 01/15/20280.0%
    Shimao Group Holdings Ltd5.200% 01/16/20270.0%
    New Frontera Holdings LLC5.800% 07/28/20280.0%
    Wellpath Holdings Inc10.080% 10/01/20250.0%
    Sigma Holdco BV7.875% 05/15/20260.0%
    Bausch Health Cos Inc5.250% 01/30/20300.0%
    Vita Coco Co Inc/The0.000% 09/09/99990.0%
    US 2YR NOTE (CBT) Jun250.000% 06/30/20250.0%
    ZF North America Capital Inc6.750% 04/23/20300.0%
    US LONG BOND(CBT) Jun250.000% 06/18/20250.0%
    FX USD/GBP 03/250.000% 03/14/20250.0%
    Acushnet Co7.375% 10/15/20280.0%
    FRONTERA GENERATION0.000% 09/09/99990.0%
    ACBL HLDG CORP0.000% 09/09/99990.0%
    Elwood Energy LLC8.159% 07/05/20260.0%
    CHINOS INTERMEDIATE 2 LLC0.000% 09/09/99990.0%
    WELLPATH HOLDINGS INC11.567% 06/09/20250.0%
    WELLPATH HOLDINGS INC11.567% 06/09/20250.0%
    FX USD/EUR 05/250.000% 05/23/20250.0%
    South Field Energy LLC8.063% 08/29/20310.0%
    FX GBP/USD 03/250.000% 03/14/20250.0%
    Rain CII Carbon LLC / CII Carbon Corp7.250% 04/01/20250.0%
    Sunac China Holdings Ltd7.000% 09/30/20290.0%
    Sunac China Holdings Ltd0.000% 09/09/99990.0%
    SierraCol Energy Andina LLC6.000% 06/15/20280.0%
    Sunac China Holdings Ltd6.750% 09/30/20280.0%
    Lumen Technologies Inc7.600% 09/15/20390.0%
    Sunac China Holdings Ltd6.500% 09/30/20270.0%
    CHINOS INTERMEDIATE 2 LLC0.000% 09/09/99990.0%
    Sunac China Holdings Ltd7.250% 09/30/20300.0%
    US 10YR NOTE (CBT)Jun250.000% 06/18/20250.0%
    FGI Operating Co LLC12.000% 12/31/20250.0%
    Sunac China Holdings Ltd6.000% 09/30/20250.0%
    Sunac China Holdings Ltd6.250% 09/30/20260.0%
    Shimao Group Holdings Ltd3.450% 01/11/20310.0%
    FX GBP/USD 03/250.000% 03/14/20250.0%
    FX GBP/USD 03/250.000% 03/14/20250.0%
    FX USD/EUR 05/250.000% 05/23/20250.0%
    GRAFTECH FINANCE INC10.322% 12/21/20290.0%
    FX USD/GBP 03/250.000% 03/14/20250.0%
    FX USD/EUR 05/250.000% 05/23/20250.0%
    FX USD/EUR 05/250.000% 05/23/20250.0%
    FX USD/EUR 05/250.000% 05/23/20250.0%
    FX USD/EUR 05/250.000% 05/23/20250.0%
    FX USD/EUR 05/250.000% 05/23/20250.0%
    MIRABELA NICKEL LTD.1.000% 09/16/20440.0%
    Tonon Luxembourg SA6.500% 10/31/20240.0%
    Washington Mutual Bank / Debt not acquired by JPMorgan6.875% 06/15/20110.0%
    PERSIMMON MIDCO LLC0.000% 09/09/99990.0%
    CLAIRES HOLDINGS0.000% 09/09/99990.0%
    FX USD/GBP 03/250.000% 03/14/20250.0%
    FX USD/GBP 03/250.000% 03/14/20250.0%
    FX USD/GBP 03/250.000% 03/14/20250.0%
    FX USD/GBP 03/250.000% 03/14/20250.0%
    ASP Unifrax Holdings Inc0.025% 09/28/20290.0%
    US 5YR NOTE (CBT) Jun250.000% 06/30/20250.0%

    Sector Allocationas of 03/31/2025

    Sector Weighting Fund Change from Previous Quarter
    Sector Weighting Fund Change from Previous Quarter
    Energy arrowUp0.3%
    Real Estate arrowUp0.1%
    Technology & Electronics arrowDown1.7%
    Insurance arrowUp0.6%
    Consumer Goods arrowUp0.2%
    Capital Goods arrowUp0.4%
    Leisure arrowDown0.4%
    Services arrowDown0.1%
    Telecommunications arrowDown0.3%
    Retail arrowDown0.3%
    Media arrowUp0.6%
    Basic Industry arrowUp1.2%
    Healthcare arrowDown0.4%
    Transportation 0.0%
    Banking arrowDown0.1%
    Financial Services arrowDown0.4%
    Mortgage Securities 0.0%
    Consumer, Non-Cyclical 0.0%
    Automotive arrowUp1.3%
    Utility arrowDown0.9%

    Dividends & Cap Gains

    Dividends & Cap Gains

    Dividend Payments

    Dividend Payments

    For
    YTD Dividends Paidas of 04/25/2025
    $0.10943
    Dividend Frequency
    Monthly (Daily Accrual)
    Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
    Daily Daily 03/31/2025 $0.03843 $6.29
    Daily Daily 02/28/2025 $0.03477 $6.42
    Daily Daily 01/31/2025 $0.03623 $6.42

    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

    Capital Gains Distributions

    For
    Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
    12/16/2021 12/17/2021 - $0.0100 $0.0100 $7.45

    Fees & Expenses

    Fees & Expenses

    Expense Ratioas of 03/31/2025

    Fund Gross Expense Ratio 0.98%
    Fund Net Expense Ratio 0.98%

    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.  

     

    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.

    3

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

    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 Fund invests primarily in high-yield, lower-rated securities, sometimes called junk bonds. 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.

     

    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.

     

    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 ICE BofA Merrill Lynch U.S. High Yield Constrained Index is a capitalization-weighted index of all US dollar denominated below investment grade corporate debt publicly issued in the US domestic market. Qualifying securities must have a below investment grade rating (based on an average of Moody’s, S&P and Fitch), at least 18 months to final maturity at the time of issuance, at least one year remaining term to final maturity as of the rebalancing date, a fixed coupon schedule and a minimum amount outstanding of $100 million. The index caps individual issuer at 2%. Index constituents are capitalization-weighted, based on their current amount outstanding, provided the total allocation to an individual issuer does not exceed 2%. Issuers that exceed the limit are reduced to 2% and the face value of each of their bonds is adjusted on a pro-rata basis. The face values of bonds of all other issuers that fall below the 2% cap are increased on a pro-rata basis. In the event there are fewer than 50 issuers in the Index, each is equally weighted and the face values of their respective bonds are increased or decreased on a pro-rata basis.

    Source: ICE Data Indices, LLC. 

    Source ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE BofAML INDICES AND RELATED DATA ON AN "AS IS" BASIS, MAKES NO WARRANTIES REGARDING SAME, DOES NOT GUARANTEE THE SUITABILITY, QUALITY, ACCURACY, TIMELINESS, AND/OR COMPLETENESS OF THE ICE BofAML INDICES OR ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM, ASSUMES NO LIABILITY IN CONNECTION WITH THE USE OF THE FOREGOING, AND DOES NOT SPONSOR, ENDORSE, OR RECOMMEND LORD ABBETT, OR ANY OF ITS PRODUCTS OR SERVICES.

    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.

     

    The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with a fund's three-, five-, and 10-year (as applicable) Morningstar RatingTM metrics. © Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

     

    Morningstar proprietary ratings reflect historical risk-adjusted performance. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Load-waived ratings do not include any front-end sales charges (which are only available for certain defined contribution plans and certain mutual fund advisory programs) and should only be considered by investors who are not subject to sales loads. Not all funds with a load-waived rating may waive their front-end load. An investor should check with their advisor to determine if they are eligible to purchase the load-waived Class A share. The top 10% of the funds in an investment category receive 5 stars, 22.5% receive 4 stars, 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages). The Overall Morningstar rating is a weighted average of funds' three-, five-, and 10-year (as applicable) ratings. Past performance is no guarantee of future results. Morningstar Rating is for the Class A share only; other classes may have different performance characteristics.

     

    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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