LSYAX | Short Duration High Yield Fund Class A | Lord Abbett

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Short Duration High Yield Fund

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Daily price w/o sales charge as of 11/29/2024

$9.99

$0.00

YTD Returns w/o sales charge as of 11/29/2024

9.11%

Overall Morningstar Ratings

High Yield Bond
as of 10/31/2024

Morningstar rated the Lord Abbett Short Duration High Yield Fund class A share 5 stars among 588 High Yield Bond Funds for the overall rating and the 3 year periods ended 10/31/2024, respectively.

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Summary

Summary

What is the Short Duration High Yield Fund?

The Fund’s investment objective is to seek a high current income and the opportunity for capital appreciation to produce a high total return.

Yield

Average Yield to Maturity as of 10/31/2024

7.99%

30-Day Standardized Yield 1 as of 10/31/2024  

6.85%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

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.

Fund Basicsas of 10/31/2024

Total Net Assets
$6.39 B
Inception Date
05/01/2020
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.71%
Fund Net Expense Ratio
0.65%
Adjusted Expense Ratio
0.71%
Number of Holdings
793
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

Gross 0.71%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 8.00% 14.90% 4.62% - - 7.25%
Lipper Category Avg. Short High Yield Funds 6.35% 11.58% 3.75% - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD Index 6.43% 13.23% 4.21% - - 6.72%
w/ sales charge 5.54% 12.27% 3.83% - - 6.71%

Fund Expense Ratio :

Gross 0.71%

Net 0.65%

Fund Expense Ratio :

Gross 0.71%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 7.97% 13.97% 4.72% - - 7.39%
Lipper Category Avg. Short High Yield Funds 6.43% 10.93% 3.80% - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD Index 6.81% 12.88% 4.37% - - 6.94%
w/ sales charge 5.50% 11.40% 3.93% - - 6.84%

Fund Expense Ratio :

Gross 0.71%

Net 0.65%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication 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. Therefore, there can be no assurance for future results.

INVESTMENT TEAM

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

23 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Partner, Deputy Director of Leveraged Credit

16 Years of Industry Experience

Supported By 64 Investment Professionals with 14 Years Avg. Industry Experience

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Performance

Performance

Average Yield to Maturity as of 10/31/2024

7.99%

30-Day Standardized Yield 1 as of 10/31/2024  

  Subsidized2 Un-Subsidized3
w/o sales charge 6.85% 6.85%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Fund Expense Ratio :

Gross 0.71%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 8.00% 14.90% 4.62% - - 7.25%
Lipper Category Avg. Short High Yield Funds 6.35% 11.58% 3.75% - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD Index 6.43% 13.23% 4.21% - - 6.72%
w/ sales charge 5.54% 12.27% 3.83% - - 6.71%

Fund Expense Ratio :

Gross 0.71%

Net 0.65%

Fund Expense Ratio :

Gross 0.71%

Net 0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge 7.97% 13.97% 4.72% - - 7.39%
Lipper Category Avg. Short High Yield Funds 6.43% 10.93% 3.80% - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD Index 6.81% 12.88% 4.37% - - 6.94%
w/ sales charge 5.50% 11.40% 3.93% - - 6.84%

Fund Expense Ratio :

Gross 0.71%

Net 0.65%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication 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. Therefore, there can be no assurance for future results.

Year Fund Returns ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD Index
2023 12.01% 11.66%
2022 -5.76% -5.39%
2021 5.53% 4.87%
Year Q1 Q2 Q3 Q4
2024 2.18% 1.47% 4.12% -
2023 2.66% 1.96% 1.37% 5.56%
2022 -2.10% -7.68% 0.48% 3.77%
2021 1.94% 2.01% 0.71% 0.76%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

Growth of $10,000 as of 11/30/2024

The chart begins on the Fund's inception date of 04/30/2020.

Based on a hypothetical Class A share investment of $10,000 on 04/30/2020 without sales charge and includes the reinvestment of all distributions.

 

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
High Yield Corporate
Bank Loans
Investment Grade Corporate
MBS
Convertible Bonds
CLO
Sovereign
CMBS
Cash

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

Rating 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 10/31/2024

Rating Assets
Agency
AA
A
BBB
BB
B
CCC
<CCC
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.

Portfolio Positioning as of 09/30/2024

  • We continued to be overweight B-rated credits. The Fund remained overweight allocation to Bs relative to the benchmark, while underweight BBs. We believe that exposure to lower-rated credit currently offers the best relative value as we remain constructive on credit in general given the increased prospects for a soft-landing scenario. However, we increased the Fund’s exposure to BBs towards the latter end of the quarter as a reflection of concerns around economic growth. The Fund also maintained a modest allocation to CCCs, as we look to be selective in sourcing these potential investments that present more idiosyncratic opportunities as opposed to adding broader risk exposure.
  • We are more balanced in the Fund’s sector exposure. The Fund remained overweight the Basic Industry and Energy sectors, which continued to be the top overweight sectors by a meaningful margin. However, we reduced this overweight, specifically in Chemicals, Metals and Mining, and E&P subsectors, as these areas tend to be sensitive to lower commodity prices and slower economic growth. Instead, we added to more defensive sectors, such as Utilities and Healthcare. The Fund’s top sector underweights remained Media and Services, albeit at more modest levels relative to prior quarters.
  • We added to sectors that have historically benefited from a lower interest rate environment. With the Fed expected to implement further rate cuts in the near term, we have shifted focus to adding exposure in sectors that should benefit from a lower interest rate environment. These include sectors like Financial Services and Real Estate, as well as select opportunities in Telecommunications where certain companies have a more positive outlook amid a relatively more favorable refinancing environment.
  • The Fund maintained modest exposure to off-benchmark sectors. 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. While the Fund has the flexibility to toggle allocations to off-benchmark asset classes, such as bank loans and convertible bonds, we continue to view high yield bonds as relatively attractive compared to other sectors.
  • We remain constructive on high yield credit despite the likely outcome of moderating economic growth. We look to be more dynamic going forward given the potential for market fluctuations in response to above trend growth slowing to a pace more akin to trend. The Fund currently holds a more balanced composition between cyclical and defensive sectors, as we have reduced areas like Energy and added to rate beneficiaries like Real Estate and Utilities. Notably, fundamentals for high yield issuers continue to be robust with leverage and interest rate coverage also remain at supportive levels, aiding the belief that defaults should be relatively benign as we move into 2025.  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.

PORTFOLIO DETAILS as of 10/31/2024

Total Net Assets
$6.39 B
Average Effective Duration
2.24 Years
Average Maturity
3.35 Years
Number of Issues
793
Average Yield to Maturity
7.99%

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

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.

Average Maturity - The length of time until the average security in a portfolio will mature or be redeemed by its issuer in proportion to its dollar value. Indicating a portfolio’s sensitivity to general market interest rate changes, a longer average maturity implies greater relative portfolio volatility.

Average Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.

Holding Coupon Maturity Assets
Carnival Corp 5.750% 03/01/2027 0.8%
Rakuten Group Inc 9.750% 04/15/2029 0.6%
PetSmart Inc / PetSmart Finance Corp 7.750% 02/15/2029 0.5%
Sotheby's 7.375% 10/15/2027 0.5%
Borr IHC Ltd / Borr Finance LLC 10.000% 11/15/2028 0.5%
California Resources Corp 8.250% 06/15/2029 0.5%
Boeing Co/The 4.875% 05/01/2025 0.5%
Hecla Mining Co 7.250% 02/15/2028 0.5%
OneMain Finance Corp 6.625% 01/15/2028 0.5%
Gray Television Inc 7.000% 05/15/2027 0.5%
% of Total Assets 5.4%
Holding Coupon Maturity Assets
BARCLAYS CAPITAL0.010% 11/01/20241.5%
Carnival Corp5.750% 03/01/20270.8%
Rakuten Group Inc9.750% 04/15/20290.6%
PetSmart Inc / PetSmart Finance Corp7.750% 02/15/20290.5%
Sotheby's7.375% 10/15/20270.5%
Borr IHC Ltd / Borr Finance LLC10.000% 11/15/20280.5%
California Resources Corp8.250% 06/15/20290.5%
Boeing Co/The4.875% 05/01/20250.5%
Hecla Mining Co7.250% 02/15/20280.5%
OneMain Finance Corp6.625% 01/15/20280.5%
Gray Television Inc7.000% 05/15/20270.5%
CCO Holdings LLC / CCO Holdings Capital Corp5.125% 05/01/20270.4%
Cloud Software Group Inc6.500% 03/31/20290.4%
Venture Global LNG Inc9.500% 02/01/20290.4%
VistaJet Malta Finance PLC / Vista Management Holding Inc9.500% 06/01/20280.4%
Sirius XM Radio Inc3.125% 09/01/20260.4%
Midcap Financial Issuer Trust6.500% 05/01/20280.4%
Frontier Communications Holdings LLC5.000% 05/01/20280.4%
Heartland Dental LLC / Heartland Dental Finance Corp10.500% 04/30/20280.4%
Ford Motor Credit Co LLC5.125% 06/16/20250.4%
Coinbase Global Inc3.375% 10/01/20280.4%
Allied Universal Holdco LLC / Allied Universal Finance Corp9.750% 07/15/20270.4%
30-YR GNMA II-TBA PROD NOV7.000% 02/01/20540.4%
Hudbay Minerals Inc4.500% 04/01/20260.4%
Staples Inc10.750% 09/01/20290.4%
CHS/Community Health Systems Inc5.625% 03/15/20270.4%
Crescent Energy Finance LLC9.250% 02/15/20280.4%
OneMain Finance Corp7.125% 03/15/20260.4%
EquipmentShare.com Inc9.000% 05/15/20280.4%
30-YR UMBS-TBA PROD DEC7.000% 07/01/20530.4%
AMC Networks Inc4.250% 02/15/20290.4%
Unisys Corp6.875% 11/01/20270.4%
Sitio Royalties Operating Partnership LP / Sitio Finance Corp7.875% 11/01/20280.4%
PennyMac Financial Services Inc5.375% 10/15/20250.4%
RR Donnelley & Sons Co9.500% 08/01/20290.4%
Jefferies Finance LLC / JFIN Co-Issuer Corp5.000% 08/15/20280.4%
CITGO Petroleum Corp8.375% 01/15/20290.4%
WASH Multifamily Acquisition Inc5.750% 04/15/20260.4%
Saturn Oil & Gas Inc9.625% 06/15/20290.4%
Curaleaf Holdings Inc8.000% 12/15/20260.3%
Comstock Resources Inc6.750% 03/01/20290.3%
Brandywine Operating Partnership LP8.875% 04/12/20290.3%
Aston Martin Capital Holdings Ltd10.000% 03/31/20290.3%
Vital Energy Inc7.750% 07/31/20290.3%
30-YR UMBS-TBA PROD DEC6.500% 07/01/20530.3%
Advantage Sales & Marketing Inc6.500% 11/15/20280.3%
Alliance Resource Operating Partners LP / Alliance Resource Finance Corp8.625% 06/15/20290.3%
Coronado Finance Pty Ltd9.250% 10/01/20290.3%
Venture Global LNG Inc8.125% 06/01/20280.3%
JPMorgan Chase & Co4.000% 10/01/21730.3%
Civitas Resources Inc8.375% 07/01/20280.3%
Smyrna Ready Mix Concrete LLC6.000% 11/01/20280.3%
RAC Bond Co PLC5.250% 11/04/20460.3%
Transocean Inc8.250% 05/15/20290.3%
Inter Media and Communication SpA6.750% 02/09/20270.3%
Trulieve Cannabis Corp8.000% 10/06/20260.3%
Brookfield Corporate Treasury Ltd0.000% 11/07/20240.3%
SunCoke Energy Inc4.875% 06/30/20290.3%
Ally Financial Inc5.750% 11/20/20250.3%
Xerox Holdings Corp5.000% 08/15/20250.3%
Bausch Health Cos Inc5.500% 11/01/20250.3%
Vistra Corp7.000% 06/15/21730.3%
Iliad Holding SASU6.500% 10/15/20260.3%
Virgin Media Vendor Financing Notes IV DAC5.000% 07/15/20280.3%
Nexstar Media Inc5.625% 07/15/20270.3%
Frontier Communications Holdings LLC5.875% 10/15/20270.3%
Freedom Mortgage Corp12.000% 10/01/20280.3%
Rand Parent LLC8.500% 02/15/20300.3%
ROCK Trust 2024-CNTR8.819% 11/13/20410.3%
Castlelake Aviation Finance DAC5.000% 04/15/20270.3%
Kraken Oil & Gas Partners LLC7.625% 08/15/20290.3%
SM Energy Co6.625% 01/15/20270.3%
American Airlines Inc7.250% 02/15/20280.3%
AmeriTex HoldCo Intermediate LLC10.250% 10/15/20280.3%
Griffon Corp5.750% 03/01/20280.3%
Dexko Global Inc8.615% 10/04/20280.3%
NCL Corp Ltd5.875% 03/15/20260.3%
Valaris Ltd8.375% 04/30/20300.3%
Mauser Packaging Solutions Holding Co9.250% 04/15/20270.3%
30-YR GNMA II-TBA PROD NOV6.500% 04/01/20540.3%
ION Trading Technologies Sarl9.500% 05/30/20290.3%
Victoria's Secret & Co4.625% 07/15/20290.3%
Bausch + Lomb Corp8.375% 10/01/20280.3%
Landsea Homes Corp8.875% 04/01/20290.3%
30-YR UMBS-TBA PROD NOV6.000% 10/01/20530.3%
Nationstar Mortgage Holdings Inc6.500% 08/01/20290.3%
Sabre GLBL Inc8.625% 06/01/20270.3%
Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp6.000% 08/01/20260.3%
GGAM Finance Ltd8.000% 06/15/20280.3%
Directv Financing LLC10.097% 08/02/20290.3%
Freedom Mortgage Corp12.250% 10/01/20300.3%
HAT Holdings I LLC / HAT Holdings II LLC8.000% 06/15/20270.3%
LSB Industries Inc6.250% 10/15/20280.3%
Talos Production Inc9.000% 02/01/20290.3%
Miller Homes Group Finco PLC7.000% 05/15/20290.3%
Hunt Cos Inc5.250% 04/15/20290.3%
Seadrill Finance Ltd8.375% 08/01/20300.2%
Encino Acquisition Partners Holdings LLC8.750% 05/01/20310.2%
Univision Communications Inc6.625% 06/01/20270.2%
National Mentor Holdings Inc8.454% 03/02/20280.2%
Deuce Finco Plc5.500% 06/15/20270.2%
30-YR GNMA II-TBA PROD DEC6.000% 06/01/20540.2%
Bread Financial Holdings Inc9.750% 03/15/20290.2%
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp5.250% 10/01/20250.2%
Performance Food Group Inc5.500% 10/15/20270.2%
Star Parent Inc8.354% 09/27/20300.2%
SM Energy Co6.750% 08/01/20290.2%
Univision Communications Inc8.000% 08/15/20280.2%
TerraForm Power Operating LLC5.000% 01/31/20280.2%
Shelf Drilling Holdings Ltd9.625% 04/15/20290.2%
Global Auto Holdings Ltd/AAG FH UK Ltd8.375% 01/15/20290.2%
Catalent Pharma Solutions Inc5.000% 07/15/20270.2%
Olympus Water US Holding Corp9.750% 11/15/20280.2%
Petroleos Mexicanos8.750% 06/02/20290.2%
US Acute Care Solutions LLC9.750% 05/15/20290.2%
Osaic Holdings Inc8.685% 08/17/20280.2%
Arko Corp5.125% 11/15/20290.2%
Camelot Return Merger Sub Inc8.750% 08/01/20280.2%
Sunrise HoldCo IV BV5.500% 01/15/20280.2%
Berry Petroleum Co LLC7.000% 02/15/20260.2%
Eco Material Technologies Inc7.875% 01/31/20270.2%
MGM Resorts International5.500% 04/15/20270.2%
EnQuest PLC11.625% 11/01/20270.2%
Punch Finance PLC6.125% 06/30/20260.2%
NAUTILUS POWER LLC10.115% 11/16/20260.2%
Iceland Bondco PLC10.875% 12/15/20270.2%
M&T Bank Corp3.500% 03/01/21730.2%
Newell Brands Inc6.375% 09/15/20270.2%
Gainwell Acquisition Corp8.704% 10/01/20270.2%
Dye & Durham Ltd8.625% 04/15/20290.2%
Freedom Mortgage Holdings LLC9.250% 02/01/20290.2%
Champions Financing Inc9.852% 02/23/20290.2%
ADMI Corp8.550% 12/23/20270.2%
CVR Partners LP / CVR Nitrogen Finance Corp6.125% 06/15/20280.2%
Helix Energy Solutions Group Inc9.750% 03/01/20290.2%
Park-Ohio Industries Inc6.625% 04/15/20270.2%
CoreCivic Inc8.250% 04/15/20290.2%
Asurion LLC10.050% 01/20/20290.2%
Lightstone Holdco LLC10.335% 01/29/20270.2%
GrafTech Global Enterprises Inc9.875% 12/15/20280.2%
Rain Carbon Inc12.250% 09/01/20290.2%
Summer BC Holdco A Sarl9.250% 10/31/20270.2%
Invesco US CLO 2024-2 Ltd6.647% 07/15/20370.2%
CPM Holdings Inc9.344% 09/28/20280.2%
Civitas Resources Inc5.000% 10/15/20260.2%
Enviri Corp5.750% 07/31/20270.2%
Genesee & Wyoming Inc6.604% 04/10/20310.2%
ASP Unifrax Holdings Inc10.425% 09/30/20290.2%
Lumen Technologies Inc7.182% 04/15/20290.2%
Ahlstrom Holding 3 Oy4.875% 02/04/20280.2%
CHS/Community Health Systems Inc6.875% 04/15/20290.2%
Petrobras Global Finance BV5.299% 01/27/20250.2%
CCO Holdings LLC / CCO Holdings Capital Corp5.500% 05/01/20260.2%
Red Oak Power LLC8.593% 10/01/20300.2%
Kodiak Gas Services LLC7.250% 02/15/20290.2%
Synchrony Financial4.875% 06/13/20250.2%
CEC Entertainment LLC6.750% 05/01/20260.2%
LFS Topco LLC5.875% 10/15/20260.2%
Chord Energy Corp6.375% 06/01/20260.2%
GEO Group Inc/The8.625% 04/15/20290.2%
Air Canada3.875% 08/15/20260.2%
Piedmont Operating Partnership LP6.875% 07/15/20290.2%
Aretec Group Inc8.685% 08/09/20300.2%
Blue Owl Technology Finance Corp4.750% 12/15/20250.2%
Outfront Media Capital LLC / Outfront Media Capital Corp5.000% 08/15/20270.2%
Melco Resorts Finance Ltd5.750% 07/21/20280.2%
Allied Universal Holdco LLC8.535% 05/12/20280.2%
Enstall Group BV9.865% 08/30/20280.2%
Stillwater Mining Co4.000% 11/16/20260.2%
Strathcona Resources Ltd/Alberta6.875% 08/01/20260.2%
Herens US Holdco Corp8.629% 07/03/20280.2%
Alta Equipment Group Inc9.000% 06/01/20290.2%
Heathrow Finance PLC0.000% 03/01/20270.2%
Vibrantz Technologies Inc9.058% 04/23/20290.2%
Wildfire Intermediate Holdings LLC7.500% 10/15/20290.2%
Texas Debt Capital CLO 2024-I Ltd6.582% 04/22/20370.2%
Iliad Holding SASU7.000% 10/15/20280.2%
Aethon United BR LP / Aethon United Finance Corp7.500% 10/01/20290.2%
Albion Financing 2 Sarl8.750% 04/15/20270.2%
Herens Midco Sarl5.250% 05/15/20290.2%
Victra Holdings LLC / Victra Finance Corp8.750% 09/15/20290.2%
NOVA Chemicals Corp5.250% 06/01/20270.2%
Global Marine Inc7.000% 06/01/20280.2%
Novelis Corp3.250% 11/15/20260.2%
WaterBridge Midstream Operating LLC9.393% 06/27/20290.2%
Welltec International ApS8.250% 10/15/20260.2%
AdaptHealth LLC6.125% 08/01/20280.2%
Penn Entertainment Inc4.125% 07/01/20290.2%
LABL Inc9.500% 11/01/20280.2%
Algoma Steel Inc9.125% 04/15/20290.2%
ASG Finance Designated Activity Co9.750% 05/15/20290.2%
Delek Logistics Partners LP / Delek Logistics Finance Corp7.125% 06/01/20280.2%
Newmark Group Inc7.500% 01/12/20290.2%
Blue Owl Technology Finance Corp II6.750% 04/04/20290.2%
LABL Inc10.500% 07/15/20270.2%
Market Bidco Finco PLC5.500% 11/04/20270.2%
Medco Bell Pte Ltd6.375% 01/30/20270.2%
Vistra Corp8.875% 07/15/21730.2%
Noble Finance II LLC8.000% 04/15/20300.2%
Howard Hughes Corp/The5.375% 08/01/20280.2%
Nationstar Mortgage Holdings Inc5.500% 08/15/20280.2%
Frontier Communications Holdings LLC6.750% 05/01/20290.2%
INEOS Finance PLC6.750% 05/15/20280.2%
Nexus Buyer LLC8.685% 07/31/20310.2%
ATI Inc5.875% 12/01/20270.2%
FirstCash Inc5.625% 01/01/20300.2%
Ken Garff Automotive LLC4.875% 09/15/20280.2%
Diamond Foreign Asset Co / Diamond Finance LLC8.500% 10/01/20300.2%
Iris Holding Inc9.435% 06/28/20280.2%
LifePoint Health Inc5.375% 01/15/20290.2%
First Quantum Minerals Ltd9.375% 03/01/20290.2%
Eldorado Gold Corp6.250% 09/01/20290.2%
Enphase Energy Inc0.000% 03/01/20280.2%
AMC Entertainment Holdings Inc10.000% 06/15/20260.2%
Constant Contact Inc0.000% 02/12/20290.2%
Compass Minerals International Inc6.750% 12/01/20270.2%
RVR Dealership Holdings LLC8.504% 02/08/20280.2%
Nova Alexandre III SAS8.792% 07/15/20290.2%
LGI Homes Inc8.750% 12/15/20280.2%
Hilcorp Energy I LP / Hilcorp Finance Co6.250% 11/01/20280.2%
PG Polaris BidCo Sarl7.604% 03/26/20310.2%
TEGNA Inc4.625% 03/15/20280.2%
Standard Chartered PLC3.516% 02/12/20300.2%
BCP V Modular Services Finance II PLC6.125% 11/30/20280.2%
West China Cement Ltd4.950% 07/08/20260.2%
US Bancorp3.700% 01/15/21730.2%
McGraw-Hill Education Inc5.750% 08/01/20280.2%
Staples Inc10.689% 09/04/20290.2%
Rakuten Group Inc11.250% 02/15/20270.2%
Delek Logistics Partners LP / Delek Logistics Finance Corp8.625% 03/15/20290.2%
ZF North America Capital Inc4.750% 04/29/20250.2%
CA Magnum Holdings5.375% 10/31/20260.2%
Tempur Sealy International Inc0.000% 10/03/20310.2%
Flutter Financing BV6.604% 11/29/20300.2%
Helios Software Holdings Inc / ION Corporate Solutions Finance Sarl8.750% 05/01/20290.2%
Calpine Corp6.685% 01/31/20310.2%
Coty Inc5.000% 04/15/20260.2%
Genting New York LLC / GENNY Capital Inc7.250% 10/01/20290.2%
Seaspan Corp5.500% 08/01/20290.2%
Life Time Inc5.750% 01/15/20260.2%
AVSC Holding Corp8.195% 03/03/20250.2%
Walgreens Boots Alliance Inc8.125% 08/15/20290.2%
Wells Fargo & Co5.904% 04/22/20280.2%
Directv Financing LLC / Directv Financing Co-Obligor Inc5.875% 08/15/20270.2%
Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC10.500% 02/15/20280.2%
Goodyear Tire & Rubber Co/The5.000% 05/31/20260.2%
CELESTIAL SATURN PARENT INC11.300% 06/04/20290.2%
Viking Cruises Ltd5.875% 09/15/20270.2%
Navient Corp6.750% 06/15/20260.2%
Antero Midstream Partners LP / Antero Midstream Finance Corp5.750% 03/01/20270.2%
Peraton Corp8.535% 02/01/20280.2%
BNP Paribas SA7.375% 02/19/21730.2%
CPI CG Inc10.000% 07/15/20290.2%
Gap Inc/The3.625% 10/01/20290.2%
Rakuten Group Inc5.125% 10/22/21730.1%
Gabon Government International Bond6.950% 06/16/20250.1%
Medical Solutions Holdings Inc8.185% 11/01/20280.1%
CSN Inova Ventures6.750% 01/28/20280.1%
Mauser Packaging Solutions Holding Co7.875% 08/15/20260.1%
Mercer International Inc5.125% 02/01/20290.1%
Pinnacle Bidco PLC10.000% 10/11/20280.1%
Bausch Health Cos Inc4.875% 06/01/20280.1%
Ashton Woods USA LLC / Ashton Woods Finance Co4.625% 08/01/20290.1%
World Acceptance Corp7.000% 11/01/20260.1%
FirstCash Inc4.625% 09/01/20280.1%
PennyMac Financial Services Inc7.875% 12/15/20290.1%
MGM China Holdings Ltd5.250% 06/18/20250.1%
Modena Buyer LLC9.104% 07/01/20310.1%
Algonquin Power & Utilities Corp4.750% 01/18/20820.1%
ACProducts Holdings Inc9.115% 05/17/20280.1%
Cogent Communications Group Inc / Cogent Communications Finance Inc7.000% 06/15/20270.1%
CSC Holdings LLC11.750% 01/31/20290.1%
Talos Production Inc9.375% 02/01/20310.1%
Team Health Holdings Inc9.839% 03/02/20270.1%
gategroup Finance Luxembourg SA3.000% 02/28/20270.1%
LSF12 CRWN US COMRCL BIDCO LLC0.000% 10/10/20310.1%
Jefferson Capital Holdings LLC6.000% 08/15/20260.1%
INEOS Quattro Finance 2 Plc9.625% 03/15/20290.1%
GGAM Finance Ltd8.000% 02/15/20270.1%
JELD-WEN Inc4.875% 12/15/20270.1%
Calumet Specialty Products Partners LP / Calumet Finance Corp9.750% 07/15/20280.1%
ILFC E-Capital Trust II6.815% 12/21/20650.1%
Grinding Media Inc8.898% 10/12/20280.1%
Azul Secured Finance LLP11.930% 08/28/20280.1%
Bellis Finco PLC4.000% 02/16/20270.1%
PRA Group Inc8.875% 01/31/20300.1%
Ascensus Holdings Inc8.300% 08/02/20280.1%
Ingenovis Health Inc9.050% 03/06/20280.1%
Popular Inc7.250% 03/13/20280.1%
City Football Group Ltd7.832% 07/22/20300.1%
Nordstrom Inc4.000% 03/15/20270.1%
Staples Inc12.750% 01/15/20300.1%
Spin Holdco Inc9.256% 03/04/20280.1%
Ascent Resources Utica Holdings LLC / ARU Finance Corp5.875% 06/30/20290.1%
Piedmont Operating Partnership LP9.250% 07/20/20280.1%
Cerdia Finanz GmbH9.375% 10/03/20310.1%
Solaris Midstream Holdings LLC7.625% 04/01/20260.1%
LCPR Senior Secured Financing DAC6.750% 10/15/20270.1%
Zegona Finance PLC8.625% 07/15/20290.1%
Newell Brands Inc5.700% 04/01/20260.1%
FORWARD AIR CORPORATION9.085% 12/19/20300.1%
SCIL IV LLC / SCIL USA Holdings LLC5.375% 11/01/20260.1%
Schneider Electric SE1.970% 11/27/20300.1%
Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC4.750% 04/15/20280.1%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.250% 05/15/20270.1%
ASP Unifrax Holdings Inc7.100% 09/30/20290.1%
Sigma Holdco BV5.750% 05/15/20260.1%
Gulfport Energy Operating Corp6.750% 09/01/20290.1%
30-YR UMBS-TBA PROD DEC6.000% 10/01/20530.1%
OSI Systems Inc2.250% 08/01/20290.1%
30-YR GNMA II-TBA PROD DEC6.500% 04/01/20540.1%
Selecta Group BV8.000% 04/01/20260.1%
GrubHub Holdings Inc5.500% 07/01/20270.1%
Barracuda Networks Inc0.000% 08/15/20290.1%
Zelis Payments Buyer Inc0.000% 10/25/20310.1%
Vistra Operations Co LLC5.625% 02/15/20270.1%
PHH Mortgage Corp7.875% 03/15/20260.1%
TEGNA Inc4.750% 03/15/20260.1%
Chemours Co/The5.375% 05/15/20270.1%
CCO Holdings LLC / CCO Holdings Capital Corp6.375% 09/01/20290.1%
LifePoint Health Inc4.375% 02/15/20270.1%
Calpine Corp5.125% 03/15/20280.1%
Hughes Satellite Systems Corp5.250% 08/01/20260.1%
Univision Communications Inc7.375% 06/30/20300.1%
Organon & Co / Organon Foreign Debt Co-Issuer BV4.125% 04/30/20280.1%
Mercer International Inc5.500% 01/15/20260.1%
PennyMac Corp5.500% 03/15/20260.1%
Ardonagh Group Finco Pty Ltd8.354% 02/15/20310.1%
VF Ukraine PAT via VFU Funding PLC6.200% 02/11/20250.1%
NRG Energy Inc10.250% 09/15/21730.1%
Nationstar Mortgage Holdings Inc6.000% 01/15/20270.1%
Osaic Holdings Inc10.750% 08/01/20270.1%
Hughes Satellite Systems Corp6.625% 08/01/20260.1%
Peebles Park CLO Ltd6.617% 04/21/20370.1%
Jaguar Land Rover Automotive PLC5.875% 01/15/20280.1%
Evergreen Acqco 1 LP / TVI Inc9.750% 04/26/20280.1%
INEOS Finance PLC7.500% 04/15/20290.1%
Wynn Macau Ltd5.500% 10/01/20270.1%
Anastasia Parent LLC8.615% 08/11/20250.1%
EPIC Y-Grade Services LP10.601% 06/29/20290.1%
American Builders & Contractors Supply Co Inc4.000% 01/15/20280.1%
NCL Finance Ltd6.125% 03/15/20280.1%
American Trailer World Corp8.535% 03/03/20280.1%
Raven Acquisition Holdings LLC0.000% 10/24/20310.1%
Connect Finco SARL / Connect US Finco LLC9.000% 09/15/20290.1%
Sinclair Television Group Inc8.535% 04/21/20290.1%
Western Alliance Bancorp3.000% 06/15/20310.1%
Neptune Bidco US Inc9.290% 04/15/20290.1%
USA Compression Partners LP / USA Compression Finance Corp7.125% 03/15/20290.1%
Cinemark USA Inc5.250% 07/15/20280.1%
JFL-Tiger Acquisition Co Inc9.259% 10/17/20300.1%
Leia Finco US LLC7.887% 07/02/20310.1%
Sabre GLBL Inc11.250% 12/15/20270.1%
Empower CLO 2023-1 Ltd10.126% 04/25/20360.1%
Ocado Group PLC3.875% 10/08/20260.1%
Tenet Healthcare Corp6.125% 10/01/20280.1%
CORNERSTONE GENERATION LLC0.000% 10/28/20310.1%
Leviathan Bond Ltd6.500% 06/30/20270.1%
Global Atlantic Fin Co4.700% 10/15/20510.1%
Brookfield Residential Properties Inc / Brookfield Residential US LLC5.000% 06/15/20290.1%
Canacol Energy Ltd5.750% 11/24/20280.1%
Guidewire Software Inc1.250% 03/15/20250.1%
GDS Holdings Ltd4.500% 01/31/20300.1%
ZF North America Capital Inc7.125% 04/14/20300.1%
ILFC E-Capital Trust I6.565% 12/21/20650.1%
Danby Park CLO Ltd6.317% 10/21/20370.1%
Boxer Parent Co Inc10.335% 07/30/20320.1%
American Axle & Manufacturing Inc6.500% 04/01/20270.1%
Provident Funding Associates LP / PFG Finance Corp9.750% 09/15/20290.1%
Waste Pro USA Inc5.500% 02/15/20260.1%
GGAM Finance Ltd6.875% 04/15/20290.1%
Energizer Holdings Inc4.750% 06/15/20280.1%
Sigma Holdco BV7.875% 05/15/20260.1%
NCR Atleos Corp9.500% 04/01/20290.1%
Dermatology Intermediate Holdings III Inc10.085% 03/30/20290.1%
NOVA Chemicals Corp9.000% 02/15/20300.1%
Generate Clo 18 Ltd6.309% 01/20/20380.1%
Vertex Inc0.750% 05/01/20290.1%
Carlyle US CLO 2022-3 Ltd7.167% 04/20/20370.1%
Taseko Mines Ltd8.250% 05/01/20300.1%
Royal Caribbean Cruises Ltd5.500% 08/31/20260.1%
Permian Resources Operating LLC8.000% 04/15/20270.1%
Edelman Financial Engines Center LLC/The9.935% 10/06/20280.1%
Hunter US Bidco Inc8.954% 08/19/20280.1%
Bombardier Inc7.500% 02/01/20290.1%
Nabors Industries Ltd7.500% 01/15/20280.1%
AMC Entertainment Holdings Inc11.745% 01/04/20290.1%
AG Issuer LLC6.250% 03/01/20280.1%
Danske Bank A/S4.375% 11/18/21720.1%
OHA Credit Partners XII Ltd6.576% 04/23/20370.1%
New Enterprise Stone & Lime Co Inc5.250% 07/15/20280.1%
Longfor Group Holdings Ltd3.950% 09/16/20290.1%
Global Medical Response Inc6.500% 10/01/20250.1%
GLP Capital LP / GLP Financing II Inc5.250% 06/01/20250.1%
Comstock Resources Inc5.875% 01/15/20300.1%
Patrick Industries Inc7.500% 10/15/20270.1%
USALCO LLC0.000% 09/17/20310.1%
Nabors Industries Inc7.375% 05/15/20270.1%
Acuris Finance US Inc / Acuris Finance SARL9.000% 08/01/20290.1%
NUVEI TECHNOLOGIES CORP0.000% 07/18/20310.1%
Arcline FM Holdings LLC9.567% 06/23/20280.1%
Sixth Street CLO XVI Ltd12.037% 01/20/20370.1%
Cloud Software Group Inc9.000% 09/30/20290.1%
Vision Solutions Inc8.847% 04/24/20280.1%
Lumen Technologies Inc4.500% 01/15/20290.1%
Kobe US Midco 2 Inc9.250% 11/01/20260.1%
Sixth Street Lending Partners6.500% 03/11/20290.1%
Delta 2 Lux Sarl0.000% 09/10/20310.1%
TMS International Corp/DE6.250% 04/15/20290.1%
KeyCorp5.000% 12/15/21720.1%
Wynn Macau Ltd5.125% 12/15/20290.1%
Madison Park Funding XXXVII Ltd7.247% 04/15/20370.1%
Nutanix Inc0.250% 10/01/20270.1%
Gen Digital Inc6.750% 09/30/20270.1%
Ziggo Bond Co BV6.000% 01/15/20270.1%
LHS Borrower LLC0.000% 02/16/20290.1%
UBS Group AG5.125% 07/29/21730.1%
Sunnova Energy Corp5.875% 09/01/20260.1%
CNX Resources Corp6.000% 01/15/20290.1%
Petroleos Mexicanos4.250% 01/15/20250.1%
Tullow Oil PLC10.250% 05/15/20260.1%
Dragon Buyer Inc7.854% 09/30/20310.1%
Boparan Finance PLC7.625% 11/30/20250.1%
TOSCA SERVICES LLC0.000% 11/30/20280.1%
Iron Mountain Inc4.875% 09/15/20270.1%
Ocado Group PLC10.500% 08/08/20290.1%
ASPIRE BAKERIES HOLDINGS LLC0.000% 12/13/20300.1%
H World Group Ltd3.000% 05/01/20260.1%
Ally Financial Inc8.000% 11/01/20310.1%
Foot Locker Inc4.000% 10/01/20290.1%
CD&R Firefly Bidco PLC8.625% 04/30/20290.1%
Iris Holding Inc10.000% 12/15/20280.1%
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp4.250% 02/01/20270.1%
Moss Creek Resources Holdings Inc8.250% 09/01/20310.1%
Bank Negara Indonesia Persero Tbk PT3.750% 03/30/20260.1%
Carlyle US CLO 2024-1 Ltd6.647% 04/15/20370.1%
Elior Group SA3.750% 07/15/20260.1%
Meituan0.000% 04/27/20280.1%
OneDigital Borrower LLC9.935% 07/02/20310.1%
PBF Holding Co LLC / PBF Finance Corp6.000% 02/15/20280.1%
OneDigital Borrower LLC7.935% 07/02/20310.1%
SS&C Technologies Inc5.500% 09/30/20270.1%
ams-OSRAM AG2.125% 11/03/20270.1%
Studio City Finance Ltd5.000% 01/15/20290.1%
Semtech Corp1.625% 11/01/20270.1%
Pinewood Finco PLC3.250% 09/30/20250.1%
MicroStrategy Inc0.625% 03/15/20300.1%
Kronos Acquisition Holdings Inc0.000% 07/08/20310.1%
Market Bidco Finco PLC4.750% 11/04/20270.1%
South Field Energy LLC0.000% 08/29/20310.1%
Melco Resorts Finance Ltd5.250% 04/26/20260.1%
Bellis Acquisition Co PLC8.125% 05/14/20300.1%
Cifc Funding 2023-III Ltd6.917% 01/20/20370.1%
Mativ Holdings Inc8.000% 10/01/20290.1%
Encino Acquisition Partners Holdings LLC8.500% 05/01/20280.1%
Hertz Corp/The4.625% 12/01/20260.1%
CP Atlas Buyer Inc7.000% 12/01/20280.1%
CSC Holdings LLC4.625% 12/01/20300.1%
Emergent BioSolutions Inc3.875% 08/15/20280.1%
Gold Pole Capital Co Ltd1.000% 06/25/20290.1%
Angolan Government International Bond8.000% 11/26/20290.1%
Hunter Douglas Inc8.571% 02/26/20290.1%
Virgin Media Vendor Financing Notes III DAC4.875% 07/15/20280.1%
Sinclair Television Group Inc7.800% 04/01/20280.1%
Transocean Aquila Ltd8.000% 09/30/20280.1%
TransDigm Inc5.500% 11/15/20270.1%
Constant Contact Inc8.918% 02/10/20280.1%
Prime Security Services Borrower LLC / Prime Finance Inc6.250% 01/15/20280.1%
PATAGONIA BIDCO LIMITED10.450% 11/01/20280.1%
Ziggo Financing Partnership7.418% 04/30/20280.1%
SLM Corp3.125% 11/02/20260.1%
ZF North America Capital Inc6.875% 04/14/20280.1%
Ahead DB Holdings LLC6.625% 05/01/20280.1%
Synthomer PLC7.375% 05/02/20290.1%
Raising Cane's Restaurants LLC9.375% 05/01/20290.1%
Bloomin' Brands Inc / OSI Restaurant Partners LLC5.125% 04/15/20290.1%
Vistra Operations Co LLC5.500% 09/01/20260.1%
Bitdeer Technologies Group8.500% 08/15/20290.1%
INEOS Quattro Finance 2 Plc8.500% 03/15/20290.1%
Standard Profil Automotive GmbH6.250% 04/30/20260.1%
USA Compression Partners LP / USA Compression Finance Corp6.875% 09/01/20270.1%
Brand Industrial Services Inc10.375% 08/01/20300.1%
888 ACQUISITIONS LIMITED9.495% 07/01/20280.1%
Tetra Tech Inc2.250% 08/15/20280.1%
Vital Energy Inc7.875% 04/15/20320.1%
Banco Mercantil del Norte SA/Grand Cayman5.875% 01/24/21730.1%
DYNASTY ACQUISITION CO INC0.000% 10/25/20310.1%
IMA Industria Macchine Automatiche SpA6.929% 04/15/20290.1%
Blackstone Private Credit Fund2.700% 01/15/20250.1%
Cushman & Wakefield US Borrower LLC6.750% 05/15/20280.1%
Societe Generale SA9.375% 05/22/21730.1%
SierraCol Energy Andina LLC6.000% 06/15/20280.1%
Vornado Realty LP2.150% 06/01/20260.1%
Sirius XM Radio Inc5.000% 08/01/20270.1%
Shea Homes LP / Shea Homes Funding Corp4.750% 02/15/20280.1%
United Natural Foods Inc6.750% 10/15/20280.1%
Rocket Software Inc9.435% 11/28/20280.1%
China Hongqiao Group Ltd7.750% 03/27/20250.1%
Yunda Holding Investment Ltd2.250% 08/19/20250.1%
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer7.000% 02/01/20300.1%
Graham Packaging Co Inc7.125% 08/15/20280.1%
30-YR GNMA II-TBA PROD JAN6.000% 06/01/20540.1%
Eskom Holdings SOC Ltd7.125% 02/11/20250.1%
Travis Perkins PLC3.750% 02/17/20260.1%
Blue Racer Midstream LLC / Blue Racer Finance Corp7.000% 07/15/20290.1%
Zayo Group Holdings Inc0.000% 03/09/20270.1%
Zayo Group Holdings Inc4.000% 03/01/20270.1%
1375209 BC Ltd9.000% 01/30/20280.1%
Transocean Inc7.500% 04/15/20310.1%
Scripps Escrow Inc5.875% 07/15/20270.1%
HLF Financing Sarl LLC / Herbalife International Inc12.250% 04/15/20290.1%
888 Acquisitions Ltd7.558% 07/15/20270.1%
Minerals Technologies Inc5.000% 07/01/20280.1%
Consolidated Communications Inc6.500% 10/01/20280.1%
Group 1 Automotive Inc6.375% 01/15/20300.1%
Fortress Transportation and Infrastructure Investors LLC5.500% 05/01/20280.1%
MC Brazil Downstream Trading SARL7.250% 06/30/20310.1%
CPV Fairview LLC8.185% 08/14/20310.1%
Virgin Media Bristol LLC7.724% 03/31/20310.1%
Buckeye Partners LP6.875% 07/01/20290.1%
Amynta Agency Borrower Inc8.435% 02/28/20280.1%
HAMILTON PROJECTS ACQUIROR LLC8.435% 05/22/20310.1%
Standard Industries Inc/NY5.000% 02/15/20270.1%
Xerox Holdings Corp8.875% 11/30/20290.1%
Select Medical Corp6.250% 08/15/20260.1%
EquipmentShare.com Inc8.625% 05/15/20320.1%
Royal Caribbean Cruises Ltd5.500% 04/01/20280.1%
Specialty Building Products Holdings LLC / SBP Finance Corp7.750% 10/15/20290.1%
BCPE GRILL PARENT9.435% 09/30/20300.1%
Lumen Technologies Inc7.182% 04/15/20300.1%
NGL Energy Operating LLC / NGL Energy Finance Corp8.125% 02/15/20290.1%
Virtusa Corp7.125% 12/15/20280.1%
Genesis Energy LP / Genesis Energy Finance Corp8.250% 01/15/20290.1%
Cubic Corp9.569% 05/25/20280.1%
Weekley Homes LLC / Weekley Finance Corp4.875% 09/15/20280.1%
Polaris Newco LLC7.345% 06/02/20280.1%
P&L Development LLC / PLD Finance Corp12.000% 05/15/20290.1%
FXI Holdings Inc12.250% 11/15/20260.1%
SM Energy Co6.500% 07/15/20280.1%
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer6.750% 04/15/20280.1%
Engineered Machinery Holdings Inc10.865% 05/21/20290.1%
Atlantica Sustainable Infrastructure Jersey Ltd4.000% 07/15/20250.1%
EQM Midstream Partners LP7.500% 06/01/20270.1%
Adient Global Holdings Ltd4.875% 08/15/20260.1%
Freeport LNG Investments LLLP8.379% 12/21/20280.1%
Herbalife Nutrition Ltd / HLF Financing Inc7.875% 09/01/20250.1%
Canpack SA / Canpack US LLC3.125% 11/01/20250.1%
Angolan Government International Bond8.250% 05/09/20280.1%
Pitney Bowes Inc6.875% 03/15/20270.1%
Ocado Group PLC10.500% 08/08/20290.1%
Mitchell International Inc9.935% 06/17/20320.1%
Studio City Co Ltd7.000% 02/15/20270.1%
Pitney Bowes Inc7.250% 03/15/20290.1%
Hilcorp Energy I LP / Hilcorp Finance Co5.750% 02/01/20290.1%
Two Harbors Investment Corp6.250% 01/15/20260.1%
Sunnova Energy International Inc0.250% 12/01/20260.1%
Carnival Corp6.000% 05/01/20290.1%
Voya CLO 2023-1 Ltd7.467% 01/20/20370.1%
Mineral Resources Ltd8.500% 05/01/20300.1%
Bombardier Inc6.000% 02/15/20280.1%
LABL Inc5.875% 11/01/20280.1%
United PF Holdings LLC8.847% 12/30/20260.1%
Advancion Holdings LLC12.535% 11/24/20280.1%
Macquarie Airfinance Holdings Ltd8.375% 05/01/20280.1%
Plaskolite PPC Intermediate II LLC8.800% 12/15/20250.1%
American Airlines Inc/AAdvantage Loyalty IP Ltd5.750% 04/20/20290.1%
CD+R HYDRA BUYER INC8.785% 03/25/20310.1%
Borr IHC Ltd / Borr Finance LLC10.375% 11/15/20300.1%
Helios Software Holdings Inc / ION Corporate Solutions Finance Sarl4.625% 05/01/20280.1%
Glaukos Corp2.750% 06/15/20270.1%
DTI Holdco Inc9.435% 04/26/20290.1%
Herc Holdings Inc5.500% 07/15/20270.1%
Aretec Group Inc7.500% 04/01/20290.1%
Hanger Inc0.000% 10/16/20310.1%
McAfee Corp8.100% 03/01/20290.1%
ION Trading Technologies Sarl5.750% 05/15/20280.1%
American Airlines Inc/AAdvantage Loyalty IP Ltd5.500% 04/20/20260.1%
eResearchTechnology Inc8.685% 02/04/20270.1%
First Quantum Minerals Ltd6.875% 10/15/20270.1%
Torrid LLC10.360% 06/14/20280.1%
Mangrove Luxco III Sarl8.179% 07/15/20290.1%
CCO Holdings LLC / CCO Holdings Capital Corp5.000% 02/01/20280.1%
Clear Channel Outdoor Holdings Inc5.125% 08/15/20270.1%
STL Holding Co LLC8.750% 02/15/20290.1%
Permian Resources Operating LLC5.375% 01/15/20260.1%
CHS/Community Health Systems Inc8.000% 12/15/20270.1%
30-YR GNMA II-TBA PROD NOV6.000% 06/01/20540.1%
CITGO Petroleum Corp7.000% 06/15/20250.1%
FXI Holdings Inc12.250% 11/15/20260.1%
Teva Pharmaceutical Finance Netherlands III BV6.750% 03/01/20280.1%
GPS Hospitality Holding Co LLC / GPS Finco Inc7.000% 08/15/20280.1%
Isolved Inc8.185% 10/15/20300.1%
Sunoco LP / Sunoco Finance Corp7.000% 09/15/20280.1%
Ivanti Software Inc9.121% 12/01/20270.1%
Vanke Real Estate Hong Kong Co Ltd3.975% 11/09/20270.1%
Mercer International Inc12.875% 10/01/20280.1%
Manuchar Group Sarl7.250% 06/30/20270.1%
Fitness International LLC10.035% 02/05/20290.1%
ams-OSRAM AG12.250% 03/30/20290.1%
Park River Holdings Inc8.105% 12/28/20270.1%
Jacobs Entertainment Inc6.750% 02/15/20290.1%
Royal Caribbean Cruises Ltd5.375% 07/15/20270.1%
CITGO Petroleum Corp6.375% 06/15/20260.1%
Newell Brands Inc4.875% 06/01/20250.1%
Genesis Energy LP / Genesis Energy Finance Corp8.000% 01/15/20270.1%
HCA Inc5.375% 02/01/20250.1%
IHO Verwaltungs GmbH6.375% 05/15/20290.1%
Ensono Inc8.800% 05/26/20280.1%
Epicor Software Corp7.935% 05/30/20310.1%
Dermatology Intermediate Holdings III Inc8.835% 03/30/20290.1%
Life Time Inc0.000% 10/22/20310.1%
30-YR UMBS-TBA PROD NOV6.500% 07/01/20530.1%
Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc2.875% 10/15/20260.1%
Brand Industrial Services Inc9.748% 08/01/20300.1%
Gates Corp/DE6.875% 07/01/20290.1%
NCL Corp Ltd5.875% 02/15/20270.1%
CP Atlas Buyer Inc8.535% 11/23/20270.1%
New Gold Inc7.500% 07/15/20270.1%
Physician Partners LLC8.735% 12/26/20280.1%
ING Groep NV6.519% 09/11/20270.1%
CHS/Community Health Systems Inc6.875% 04/01/20280.1%
HCA Inc5.250% 04/15/20250.1%
Kosmos Energy Ltd7.125% 04/04/20260.1%
MGM China Holdings Ltd5.875% 05/15/20260.1%
Sizzling Platter LLC / Sizzling Platter Finance Corp8.500% 11/28/20250.1%
Starwood Property Trust Inc3.625% 07/15/20260.1%
Aretec Group Inc10.000% 08/15/20300.1%
Kosmos Energy Ltd7.500% 03/01/20280.1%
Red Planet Borrower LLC8.285% 10/02/20280.1%
ACProducts Holdings Inc6.375% 05/15/20290.1%
Nine Energy Service Inc13.000% 02/01/20280.1%
Dana Inc5.625% 06/15/20280.1%
Garda World Security Corp7.750% 02/15/20280.1%
WaterBridge NDB Operating LLC9.603% 05/10/20290.1%
Biocon Biologics Global PLC6.670% 10/09/20290.1%
HF Sinclair Corp6.375% 04/15/20270.1%
Tank Holding Corp10.245% 03/31/20280.1%
Delta 2 Lux Sarl0.000% 09/10/20310.1%
United Wholesale Mortgage LLC5.500% 04/15/20290.1%
Cornerstone Building Brands Inc9.500% 08/15/20290.1%
Macy's Retail Holdings LLC5.875% 04/01/20290.1%
Alexander Funding Trust II7.467% 07/31/20280.1%
HRNI Holdings LLC9.035% 12/11/20280.1%
FX USD/GBP 12/240.000% 12/06/20240.0%
CD&R Firefly Bidco PLC8.625% 04/30/20290.0%
B&G Foods Inc8.000% 09/15/20280.0%
OHA Loan Funding 2016-1 Ltd6.717% 07/20/20370.0%
IAMGOLD Corp5.750% 10/15/20280.0%
UBS Group AG9.250% 05/13/21730.0%
Brookhaven Park CLO LTD6.617% 04/19/20370.0%
Williams Scotsman Inc6.625% 06/15/20290.0%
Starwood Property Trust Inc4.750% 03/15/20250.0%
Navient Corp6.750% 06/25/20250.0%
AthenaHealth Group Inc7.935% 02/15/20290.0%
MH Sub I LLC10.935% 02/23/20290.0%
Stena International SA7.250% 01/15/20310.0%
EQM Midstream Partners LP6.375% 04/01/20290.0%
Flutter Treasury DAC6.375% 04/29/20290.0%
Tenet Healthcare Corp6.250% 02/01/20270.0%
NCL Corp Ltd8.375% 02/01/20280.0%
Oceaneering International Inc6.000% 02/01/20280.0%
Palmer Square CLO 2023-3 Ltd7.517% 01/20/20370.0%
SPX FLOW Inc8.185% 04/05/20290.0%
Stena International SA7.625% 02/15/20310.0%
NCL Corp Ltd8.125% 01/15/20290.0%
MH Sub I LLC8.935% 05/03/20280.0%
Oceaneering International Inc6.000% 02/01/20280.0%
Tank Holding Corp10.785% 03/31/20280.0%
Turning Point Brands Inc5.625% 02/15/20260.0%
30-YR UMBS-TBA PROD NOV7.000% 07/01/20530.0%
Kernel Holding SA6.750% 10/27/20270.0%
Bausch Health Cos Inc9.000% 12/15/20250.0%
AccorInvest Group SA6.375% 10/15/20290.0%
BANGL LLC9.143% 02/01/20290.0%
Precision Drilling Corp6.875% 01/15/20290.0%
Synthomer PLC7.375% 05/02/20290.0%
Vistra Operations Co LLC5.000% 07/31/20270.0%
Grupo Antolin-Irausa SA10.375% 01/30/20300.0%
Crosby US Acquisition Corp8.185% 08/16/20290.0%
AG TTMT Escrow Issuer LLC8.625% 09/30/20270.0%
Delta Topco Inc8.198% 11/30/20290.0%
Vistra Corp8.000% 04/15/21730.0%
American Axle & Manufacturing Inc6.875% 07/01/20280.0%
Macquarie Airfinance Holdings Ltd8.125% 03/30/20290.0%
XPO Inc6.250% 06/01/20280.0%
Triton Water Holdings Inc8.604% 03/31/20280.0%
UBS Group AG7.750% 04/12/21730.0%
FX USD/EUR 11/240.000% 11/20/20240.0%
Dream Finders Homes Inc8.250% 08/15/20280.0%
Energy Transfer LP8.000% 05/15/20540.0%
Flagstar Financial Inc8.269% 11/06/20280.0%
Lumen Technologies Inc4.125% 04/15/20290.0%
LifePoint Health Inc11.000% 10/15/20300.0%
DYNASTY ACQUISITION CO INC0.000% 10/25/20310.0%
Summer BC Holdco B SARL5.750% 10/31/20260.0%
Wellpath Holdings Inc0.000% 10/01/20250.0%
Tenet Healthcare Corp5.125% 11/01/20270.0%
GFL Environmental Inc5.125% 12/15/20260.0%
M/I Homes Inc4.950% 02/01/20280.0%
Oaktree CLO 2023-2 Ltd10.067% 07/20/20360.0%
BCPE Ulysses Intermediate Inc7.750% 04/01/20270.0%
Empire Resorts Inc7.750% 11/01/20260.0%
Precision Drilling Corp7.125% 01/15/20260.0%
Advancion Holdings LLC8.785% 11/24/20270.0%
AA Bond Co Ltd6.500% 01/31/20260.0%
Howard Hughes Corp/The4.125% 02/01/20290.0%
IMA Industria Macchine Automatiche SpA6.965% 04/15/20290.0%
Resonetics LLC8.368% 06/18/20310.0%
TransDigm Inc6.750% 08/15/20280.0%
Warrior Met Coal Inc7.875% 12/01/20280.0%
JW Aluminum Continuous Cast Co10.250% 06/01/20260.0%
GTCR Everest Borrower LLC7.604% 09/05/20310.0%
Tidewater Inc10.375% 07/03/20280.0%
United States Steel Corp6.875% 03/01/20290.0%
Project Boost Purchaser LLC9.897% 07/16/20320.0%
Calpine Corp5.250% 06/01/20260.0%
Sinclair Television Group Inc7.300% 09/30/20260.0%
Mineral Resources Ltd9.250% 10/01/20280.0%
Delta Topco Inc9.948% 11/29/20300.0%
P&L Development LLC / PLD Finance Corp7.750% 11/15/20250.0%
CPUK Finance Ltd4.500% 08/28/20270.0%
Aris Mining Corp8.000% 10/31/20290.0%
AerCap Global Aviation Trust6.500% 06/15/20450.0%
SNF Group SACA3.125% 03/15/20270.0%
Project Boost Purchaser LLC8.147% 07/16/20310.0%
Matador Resources Co6.875% 04/15/20280.0%
Engineered Machinery Holdings Inc11.365% 05/21/20290.0%
Azul Secured Finance LLP11.500% 05/28/20290.0%
Alloy Finco Ltd0.500% 03/06/20250.0%
TOSCA SERVICES LLC0.000% 11/30/20280.0%
Albion Financing 3 SARL8.860% 08/16/20290.0%
Recess Holdings Inc9.085% 02/20/20300.0%
Applied Systems Inc9.854% 02/23/20320.0%
Cubic Corp9.569% 05/25/20280.0%
Catalent Pharma Solutions Inc2.375% 03/01/20280.0%
NEP Group Inc11.718% 10/19/20260.0%
Iceland Bondco PLC10.875% 12/15/20270.0%
Welltec International ApS8.250% 10/15/20260.0%
VF Ukraine PAT via VFU Funding PLC6.200% 02/11/20250.0%
Talen Energy Supply LLC8.625% 06/01/20300.0%
Lightstone Holdco LLC10.335% 01/29/20270.0%
Tank Holding Corp0.010% 03/31/20280.0%
Navient Corp4.875% 03/15/20280.0%
Epicor Software Corp0.010% 05/30/20310.0%
South Field Energy LLC0.000% 08/29/20310.0%
Credit Default Swap5.000% 12/20/20250.0%
National Mentor Holdings Inc8.454% 03/02/20280.0%
FX USD/GBP 12/240.000% 12/06/20240.0%
FX USD/GBP 12/240.000% 12/06/20240.0%
FX USD/EUR 11/240.000% 11/20/20240.0%
FX USD/GBP 12/240.000% 12/06/20240.0%
FX USD/GBP 12/240.000% 12/06/20240.0%
FX USD/GBP 12/240.000% 12/06/20240.0%
Lumen Technologies Inc4.125% 04/15/20300.0%
FX USD/GBP 12/240.000% 12/06/20240.0%
FX USD/GBP 12/240.000% 12/06/20240.0%
FX USD/EUR 11/240.000% 11/20/20240.0%
Hanger Inc0.000% 10/16/20310.0%
FX USD/EUR 11/240.000% 11/20/20240.0%
FX USD/EUR 11/240.000% 11/20/20240.0%
FX USD/EUR 11/240.000% 11/20/20240.0%
FX USD/GBP 12/240.000% 12/06/20240.0%
FX USD/GBP 12/240.000% 12/06/20240.0%
FX USD/CHF 11/240.000% 11/15/20240.0%
Rain CII Carbon LLC / CII Carbon Corp7.250% 04/01/20250.0%
FX EUR/USD 11/240.000% 11/20/20240.0%
FX USD/GBP 12/240.000% 12/06/20240.0%
ASP Unifrax Holdings Inc0.000% 09/28/20290.0%
FX USD/GBP 12/240.000% 12/06/20240.0%
FX USD/CHF 11/240.000% 11/15/20240.0%
FX USD/EUR 11/240.000% 11/20/20240.0%
Icebox Holdco III Inc8.615% 12/22/20280.0%
Elwood Energy LLC8.159% 07/05/20260.0%
FX USD/EUR 11/240.000% 11/20/20240.0%
FX USD/EUR 11/240.000% 11/20/20240.0%
FX GBP/USD 12/240.000% 12/06/20240.0%
FX EUR/USD 11/240.000% 11/20/20240.0%
USALCO LLC0.000% 09/17/20310.0%
ESC GCB HERTZ CORP6.250% 10/15/20220.0%
ESC GCB144A HERTZ CORP5.500% 10/15/20240.0%
FX USD/EUR 11/240.000% 11/20/20240.0%
Raven Acquisition Holdings LLC0.000% 10/24/20310.0%
US 10YR NOTE (CBT)Dec240.000% 12/31/20240.0%
FX USD/EUR 11/240.000% 11/20/20240.0%
FX EUR/USD 11/240.000% 11/20/20240.0%
FX EUR/USD 11/240.000% 11/20/20240.0%
FX EUR/USD 11/240.000% 11/20/20240.0%
FX EUR/USD 11/240.000% 11/20/20240.0%
FX EUR/USD 11/240.000% 11/20/20240.0%
FX EUR/USD 11/240.000% 11/20/20240.0%
FX EUR/USD 11/240.000% 11/20/20240.0%
FX EUR/USD 11/240.000% 11/20/20240.0%
US 5YR NOTE (CBT) Dec240.000% 01/06/20250.0%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 11/29/2024
$0.67245
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 10/31/2024 $0.06348 $9.95
Daily Daily 09/30/2024 $0.06613 $10.01
Daily Daily 08/31/2024 $0.06825 $9.95
Daily Daily 07/31/2024 $0.06766 $9.90
Daily Daily 06/30/2024 $0.06747 $9.81
Daily Daily 05/31/2024 $0.06816 $9.79
Daily Daily 04/30/2024 $0.06796 $9.76
Daily Daily 03/31/2024 $0.06773 $9.87
Daily Daily 02/29/2024 $0.06708 $9.83
Daily Daily 01/31/2024 $0.06855 $9.84

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 12/31/2024

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/16/2021 12/17/2021 $0.0570 $0.0977 $0.1547 $10.70
*

Taxed as ordinary income

Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor. 

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 11/29/2024

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $10.22
$100,000 to $249,999 1.75% 1.50% $10.17
$250,000 to $499,999 1.25% 1.00% $10.12
Greater than $500,000 0.00% 1.00% $9.99

The 12b-1 trail commission is 0.15% (accrues immediately) for all fixed-income and municipal income funds.

Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.

For Sales Charge Reductions and Waivers View Full Disclosure

SALES CHARGE REDUCTIONS AND WAIVERS

Please inform the fund company or your financial intermediary at the time of your purchase of fund shares if you believe you qualify for a reduced front-end sales charge.

Reducing Your Class A Share Front-End Sales Charge
You may purchase Class A shares at a discount if you qualify under the circumstances outlined below. To receive a reduced front-end sales charge, you must let the fund or your financial intermediary know at the time of your purchase of fund shares that you believe you qualify for a discount. If you or a related party have holdings of eligible funds (as defined below) in other accounts with your financial intermediary or with other financial intermediaries that may be combined with your current purchases in determining the sales charge as described below, you must inform a fund or your financial intermediary. You may be asked to provide supporting account statements or other information to allow us or your financial intermediary to verify your eligibility for a discount. If you or your financial intermediary do not notify a fund or provide the requested information, you may not receive the reduced sales charge for which you otherwise qualify. Class A shares may be purchased at a discount if you qualify under either of the following conditions:

  • Rights of Accumulation - A Purchaser (as defined below) may combine thevalue of Class A, A1, C, F, and P shares of any Eligible Fund currentlyowned with a new purchase of Class A shares of any Eligible Fund in orderto reduce the sales charge on the new purchase. Class F3, I, R2, R3, R4, R5,and R6 share holdings may not be combined for these purposes.To the extent that your financial intermediary is able to do so, the value ofClass A, A1, C, F, and P shares of Eligible Funds determined for the purposeof reducing the sales charge of a new purchase under the Rights ofAccumulation will be calculated at the higher of: (1) the aggregate currentmaximum offering price of your existing Class A, A1, C, F, and P shares ofEligible Funds; or (2) the aggregate amount you invested in such shares(including dividend reinvestments but excluding capital appreciation) less anyredemptions. You should retain any information and account recordsnecessary to substantiate the historical amounts you and any relatedPurchasers have invested in Eligible Funds. You must inform the Fund and/or your financial intermediary at the time of purchase if you believe yourpurchase qualifies for a reduced sales charge and you may be requested toprovide documentation of your holdings in order to verify your eligibility. Ifyou do not do so, you may not receive all sales charge reductions for whichyou are eligible.

  • Letter of Intention — In order to reduce your Class A front-end salescharge, a Purchaser may combine purchases of Class A, A1, C, F, and Pshares of any Eligible Fund the Purchaser intends to make over the next13 months in determining the applicable sales charge. The 13-month Letterof Intention period commences on the day that the Letter of Intention isreceived by the Fund, and the Purchaser must tell the Fund that laterpurchases are subject to the Letter of Intention. Purchases submitted prior tothe date the Letter of Intention is received by the Fund are not countedtoward the sales charge reduction. Current holdings under Rights ofAccumulation may be included in a Letter of Intention in order to reduce thesales charge for purchases during the 13-month period covered by the Letterof Intention. Shares purchased through reinvestment of dividends ordistributions are not included. Class F3, I, R2, R3, R4, R5, and R6 shareholdings may not be combined for these purposes. Class A and A1 shares valued at up to 5% of the amount of intended purchases are escrowed andmay be redeemed to cover the additional sales charges payable if the intendedpurchases under the Letter of Intention are not completed. The Letter ofIntention is neither a binding obligation on you to buy, nor on the Fund tosell, any or all of the intended purchase amount.

Purchaser — A Purchaser includes: (1) an individual; (2) an individual, his or her spouse, domestic partner, and childrenunder the age of 21; (3) retirement and benefit plansincluding a 401(k) plan, profit-sharing plan, moneypurchase plan, defined benefit plan, and 457(b) plan sponsored by a governmental entity, non-profitorganization, school district or church to which employer contributions are made, as well as SIMPLE IRAplans and SEP-IRA plans; or (4) a trustee or other fiduciary purchasing shares for a single trust, estate orsingle fiduciary account or a trust established by the individual as grantor. An individual may include underitem (1) his or her holdings in Eligible Funds as described below in IRAs, as a sole participant of aretirement and benefit plan sponsored by the individual’s business, and as a participant in a 403(b) plan towhich only pre-tax salary deferrals are made. An individual, his or her spouse, and domestic partner mayinclude under item (2) their holdings in IRAs, and as the sole participants in retirement and benefit planssponsored by a business owned by either or both of them. A retirement and benefit plan under item (3)includes all qualified retirement and benefit plans of a single employer and its consolidated subsidiaries,and all qualified retirement and benefit plans of multiple employers registered in the name of a singlebank trustee.

Eligible fund — An eligible fund is any Lord Abbett-sponsored fund except for (1) each portfolio of Lord Abbett Series Fund, Inc., (2) Lord Abbett U.S. Government & Government Sponsored Enterprises Money Market Fund, Inc. ("Money Market Fund") (except for holdings in Money Market Fund, which are attributable to any shares exchanged from the Lord Abbett-sponsored funds), and (3) any other fund the shares of which are not available to the investor at the time of the transaction due to a limitation on the offering of a fund's shares.

Front-end Sales Charge Waivers
Class A shares may be purchased without a front-end sales charge under any of the following conditions:

  • purchases of $1 million or more (may be subject to a CDSC);
  • purchases by retirement and benefit plans with at least 100 eligible employees (may be subject to a CDSC);
  • purchases for retirement and benefit plans made through financial intermediaries that perform participant recordkeeping or other administrative services for the plans and that have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases (may be subject to a CDSC);
  • purchases made by or on behalf of financial intermediaries for clients that pay the financial intermediaries fees in connection with fee-based advisory program, provided that the financial intermediaries or their trading agents have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases; and
  • certain other types of investors may qualify to purchase Class A share without a front-end sales charge as described in the Statement of Additional Information (SAI).

 

Expense Ratioas of 10/31/2024

Fund Gross Expense Ratio 0.71%
Fund Net Expense Ratio 0.65%
Adjusted Expense Ratio 0.71%

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
Fact Sheet
Publish Date:11/03/2015
Fund Story
Publish Date:11/03/2015
* includes items 7-11 of form N-CSR as required, if any.

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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.

+

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.      

                    

 

IMPORTANT INFORMATION

 

New Fund Risk: The Fund is newly organized. There can be no assurance that the Fund will reach or maintain a sufficient asset size to effectively implement its investing strategy

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 your 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. 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.

 

Class A  Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

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 HY U.S. Corp, Cash Pay, BB-B 1-5 YR USD Index consists of BB-B rated U.S. dollar-denominated corporate bonds publicly issued in the U.S. domestic market with maturities of 1 to 5 years.

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.

 

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.

Select funds to run a Morningstar Hypothetical Report.

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