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High Yield Fund

Daily price w/o sales charge as of 03/27/2020

$6.17

arrowUp$0.03

YTD Returns w/o sales charge as of 03/27/2020

-17.71%

Overall Morningstar Ratings

High Yield Bond
as of 02/29/2020

Morningstar rated the Lord Abbett High Yield Fund class P share 3, 4 and 4 stars among 621, 540 and 338 High Yield Bond Funds for the overall rating and the 3, 5 and 10 year periods ended 2/29/2020, respectively.

Please click here for performance current to the most recent quarter-end and month-end.

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

Dividend Yield 1 as of 03/27/2020  

w/o sales charge 6.25%

30-Day Standardized Yield 2 as of 02/29/2020  

4.22%

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

Fund Basicsas of 02/28/2020

Total Net Assets
$6.85 B
Inception Date
12/31/2002
Dividend Frequency
Monthly
Fund Expense Ratio
1.15%
Number of Holdings
645

Fund Expense Ratio :

1.15%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2002
w/o sales charge -1.65% 5.95% 3.87% 4.81% 7.04% 7.55%
Lipper Category Avg. High Yield Funds -1.63% 5.41% 4.07% 4.17% 6.19% -
ICE BofAML U.S. High Yield Constrained Index -1.55% 5.91% 4.76% 5.17% 7.14% 8.28%

Fund Expense Ratio :

1.15%

Fund Expense Ratio :

1.15%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2002
w/o sales charge 14.66% 14.66% 5.50% 5.79% 7.38% 7.73%
Lipper Category Avg. High Yield Funds 13.61% 13.61% 5.55% 5.09% 6.49% -
ICE BofAML U.S. High Yield Constrained Index 14.41% 14.41% 6.32% 6.14% 7.48% 8.47%

Fund Expense Ratio :

1.15%

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.

RELATED CONTENT

U.S. High Yield: What Does History Tell Us about Elevated Spreads?
March 20, 2020

During the past few decades, U.S. high yield spreads have rarely stayed above 800 basis points for very long. What are the implications for investors?

What High Yield Valuations Are Implying About the Forward Corporate Default Rate
March 19, 2020

The current market environment is leading many credit investors to more closely examine default and recovery expectations.

Three Reasons to Consider High Yield in Today’s Market
February 7, 2020

Even after a rally in U.S. high yield in 2019, we believe the case for an investment allocation to the asset class remains alive and well.

Type Assets
High Yield Bonds
Bank Loans
Equity
Investment Grade Bonds
Convertibles
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
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 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 02/28/2020 View Portfolio

Rating Assets
A
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 & Director of Taxable Fixed Income

19 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

29 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Managing Director & Portfolio Manager

12 Years of Industry Experience

Supported By 65 Investment Professionals with 17 Years Avg. Industry Experience

Contact a Representative

To contact your representative, enter your zip code and select your channel below.

Performance

Performance

Dividend Yield 1 as of 03/27/2020  

w/o sales charge 6.25%

30-Day Standardized Yield 2 as of 02/29/2020  

  Subsidized3 Un-Subsidized4
w/o sales charge 4.22% 4.22%

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

Fund Expense Ratio :

1.15%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2002
w/o sales charge -1.65% 5.95% 3.87% 4.81% 7.04% 7.55%
Lipper Category Avg. High Yield Funds -1.63% 5.41% 4.07% 4.17% 6.19% -
ICE BofAML U.S. High Yield Constrained Index -1.55% 5.91% 4.76% 5.17% 7.14% 8.28%

Fund Expense Ratio :

1.15%

Fund Expense Ratio :

1.15%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/2002
w/o sales charge 14.66% 14.66% 5.50% 5.79% 7.38% 7.73%
Lipper Category Avg. High Yield Funds 13.61% 13.61% 5.55% 5.09% 6.49% -
ICE BofAML U.S. High Yield Constrained Index 14.41% 14.41% 6.32% 6.14% 7.48% 8.47%

Fund Expense Ratio :

1.15%

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 BofAML U.S. High Yield Constrained Index
2019 14.66% 14.41%
2018 -5.36% -2.27%
2017 8.20% 7.48%
2016 15.59% 17.49%
2015 -2.38% -4.61%
2014 3.12% 2.51%
2013 9.52% 7.41%
2012 16.26% 15.55%
2011 2.84% 4.37%
2010 13.98% 15.07%
2009 50.31% -
2008 -23.52% -
2007 2.29% -
2006 9.81% -
2005 1.09% -
2004 10.38% -
2003 20.78% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2020 - - - - -17.68%
2019 7.35% 3.82% 0.23% 2.64% 14.66%
2018 -1.09% -0.21% 2.47% -6.42% -5.36%
2017 2.75% 1.91% 2.37% 0.94% 8.20%
2016 1.94% 5.26% 5.48% 2.12% 15.59%
2015 3.10% 0.68% -4.22% -1.82% -2.38%
2014 2.84% 3.30% -1.97% -0.98% 3.12%
2013 4.01% -1.06% 2.44% 3.90% 9.52%
2012 6.65% 0.32% 4.96% 3.53% 16.26%
2011 3.73% 1.02% -7.09% 5.62% 2.84%
2010 4.84% -0.94% 6.22% 3.33% 13.98%
2009 6.03% 17.20% 14.11% 6.01% 50.31%
2008 -3.29% 1.95% -8.00% -15.69% -23.52%
2007 2.92% 0.12% 0.59% -1.31% 2.29%
2006 2.50% -0.05% 2.89% 4.18% 9.81%
2005 -1.78% 1.50% 0.81% 0.60% 1.09%
2004 1.03% -0.32% 4.36% 5.03% 10.38%
2003 3.27% 8.28% 2.51% 5.36% 20.78%

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

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
High Yield Bonds
Bank Loans
Equity
Investment Grade Bonds
Convertibles
Other
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
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 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 02/28/2020

Rating Assets
A
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.

Portfolio Positioning as of 12/31/2019

  • From a sector standpoint, we have increased the cyclical tilt in the portfolio, adding to sectors exposed to consumer spending (leisure, consumer goods) as well as the automotive and energy sectors.
  • The portfolio is overweight the energy sector, with a focus on shorter maturity bonds in the exploration & production (E&P) segment based on our view on positive fundamentals of select credits within the sector.
  • The telecom sector remains the portfolio’s largest underweight, as we believe that, in addition to secular issues faced by the wireline segment, idiosyncratic issues continue to plague major wireline companies.
  • In terms of credit ratings, we view the ‘BB’ tier as the most overpriced category in high yield, and are constructive on the lower-rated segment, notably ‘CCC’-rated credits, which we believe are trading at attractive valuations.
  • As of quarter-end, the portfolio had modest allocations to out-of-index sectors, such as bank loans, convertibles, investment grade bonds, and equities. We believe select exposures to these sectors offer attractive risk-reward opportunities, potential portfolio diversification benefits and avenues for liquidity.
  • We continue to believe that general economic fundamentals and stronger than expected earnings growth will favor the lower-rated segments of the high yield market. We expect default rates to remain subdued and believe that high yield spreads can grind tighter from current levels.

Portfolio Details as of 02/28/2020

Total Net Assets
$6.85 B
Number of Issues
645
Average Coupon
6.23%
Average Maturity
6.77 Years
Average Effective Duration
4.59 Years

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

Average Coupon - The weighted average annual rate of interest on a bond’s face value that the issuer agrees to pay the holder until maturity for all the securities in a portfolio.

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
DISH DBS Corp. 7.750% 07/01/2026 1.3%
Sprint Capital Corp. 6.875% 11/15/2028 1.2%
CCO Holdings LLC / CCO Holdings Capital Corp. 5.125% 05/01/2027 0.9%
HCA, Inc. 5.500% 06/15/2047 0.7%
Tesla Motors, Inc. 5.300% 08/15/2025 0.7%
General Electric Co. 5.000% 12/31/2099 0.6%
TransDigm, Inc. 6.375% 06/15/2026 0.6%
Tenet Healthcare Corp. 5.125% 05/01/2025 0.6%
Valeant Pharmaceuticals International, Inc. 8.500% 01/31/2027 0.5%
Freeport-McMoRan, Inc. 3.875% 03/15/2023 0.5%
% of Total Assets 7.6%
Holding Coupon Maturity Assets
Sprint Capital Corp.6.875% 11/15/20281.6%
DISH DBS Corp.7.750% 07/01/20261.2%
CCO Holdings LLC / CCO Holdings Capital Corp.5.125% 05/01/20270.8%
Tesla Motors, Inc.5.300% 08/15/20250.7%
HCA, Inc.5.500% 06/15/20470.7%
CCO Holdings LLC / CCO Holdings Capital Corp.5.875% 05/01/20270.7%
General Electric Co.5.000% 12/31/20990.6%
TransDigm, Inc.6.375% 06/15/20260.6%
Tenet Healthcare Corp.5.125% 05/01/20250.5%
Valeant Pharmaceuticals International, Inc.8.500% 01/31/20270.5%
Freeport-McMoRan, Inc.3.875% 03/15/20230.5%
Netflix, Inc.3.625% 05/15/20270.5%
Springleaf Finance Corp.6.125% 03/15/20240.5%
Numericable Group S.A.7.375% 05/01/20260.4%
Intesa Sanpaolo SpA5.710% 01/15/20260.4%
CSC Holdings LLC5.500% 04/15/20270.4%
Numericable Group S.A.8.125% 02/01/20270.4%
Intelsat Jackson Holdings SA5.500% 08/01/20230.4%
Navient Corp.6.750% 06/25/20250.4%
CF Industries, Inc.5.150% 03/15/20340.4%
Sinclair Broadcast Group, Inc.5.125% 02/15/20270.4%
Pulte Group, Inc.5.000% 01/15/20270.4%
Navient Corp.6.125% 03/25/20240.4%
AMC Networks, Inc.4.750% 08/01/20250.4%
Navient Corp.6.750% 06/15/20260.4%
Magnolia Oil & Gas Operating LLC / Magnolia Oil &6.000% 08/01/20260.4%
CIT Group, Inc.6.125% 03/09/20280.4%
Western Digital Corp.4.750% 02/15/20260.4%
RBS Global & Rexnord Corp.4.875% 12/15/20250.4%
CSC Holdings LLC10.875% 10/15/20250.3%
NRG Energy, Inc.5.750% 01/15/20280.3%
Ziggo BV5.500% 01/15/20270.3%
Verscend Escrow Corp9.750% 08/15/20260.3%
Netflix, Inc.4.875% 04/15/20280.3%
Mclaren Finance PLC5.000% 08/01/20220.3%
DKT Finance ApS9.375% 06/17/20230.3%
MEG Energy Corp.7.000% 03/31/20240.3%
TransDigm, Inc.6.250% 03/15/20260.3%
MGM Resorts International4.625% 09/01/20260.3%
CCO Holdings LLC / CCO Holdings Capital Corp.5.750% 02/15/20260.3%
Bacardi Ltd.5.300% 05/15/20480.3%
Jagged Peak Energy LLC5.875% 05/01/20260.3%
Ally Financial, Inc.8.000% 11/01/20310.3%
Lennar Corp.4.750% 05/30/20250.3%
Beyond Meat Inc0.000% -0.3%
IRB Holding Corp6.750% 02/15/20260.3%
Nexstar Broadcasting, Inc.5.625% 07/15/20270.3%
ViaSat, Inc.5.625% 04/15/20270.3%
Carrizo Oil & Gas, Inc.8.250% 07/15/20250.3%
Synovus Financial Corp.5.900% 02/07/20290.3%
Tenet Healthcare Corp.6.750% 06/15/20230.3%
Callon Petroleum Co.6.125% 10/01/20240.3%
Freeport-McMoRan, Inc.5.250% 09/01/20290.3%
Connect Finco SARL / Connect US Finco LLC6.750% 10/01/20260.3%
Tenet Healthcare Corp.6.250% 02/01/20270.3%
Transocean Poseidon Ltd6.875% 02/01/20270.3%
Molina Healthcare, Inc.4.875% 06/15/20250.3%
Rio Oil Finance Trust Series 2018-18.200% 04/06/20280.3%
TRI Pointe Homes LLC5.250% 06/01/20270.3%
Ingevity Corp.4.500% 02/01/20260.3%
SM Energy Co.6.750% 09/15/20260.3%
WeWork Cos Inc7.875% 05/01/20250.3%
Cheniere Energy Partners LP4.500% 10/01/20290.3%
Macquarie Bank Ltd./London6.125% 03/08/21670.3%
Panther BF Aggregator 2 LP / Panther Finance Co In8.500% 05/15/20270.3%
Yingde Gases Investment Ltd6.250% 01/19/20230.3%
NextCure Inc0.000% -0.3%
VOC Escrow Ltd5.000% 02/15/20280.3%
Ashland, Inc.6.875% 05/15/20430.3%
Ashton Woods USA LLC / Ashton Woods Finance Co.6.750% 08/01/20250.3%
Hadrian Merger Sub Inc8.500% 05/01/20260.3%
Radian Group, Inc.4.875% 03/15/20270.3%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.3%
Century Communities, Inc.5.875% 07/15/20250.2%
Great Wolf Trust 2019-WOLF4.807% 12/15/20360.2%
SRC Energy Inc6.250% 12/01/20250.2%
Tesla Motors, Inc.2.000% 05/15/20240.2%
Mueller Water Products, Inc.5.500% 06/15/20260.2%
New Gold, Inc.6.250% 11/15/20220.2%
Patrick Industries, Inc.7.500% 10/15/20270.2%
Apergy Corp6.375% 05/01/20260.2%
JBS USA LLC/JBS USA Finance, Inc.6.750% 02/15/20280.2%
Yum! Brands, Inc.5.350% 11/01/20430.2%
Aston Martin Capital Holdings Ltd6.500% 04/15/20220.2%
Future Retail Ltd5.600% 01/22/20250.2%
Oasis Petroleum, Inc.6.250% 05/01/20260.2%
Popular, Inc.6.125% 09/14/20230.2%
PGT Innovations Inc6.750% 08/01/20260.2%
Summit Materials LLC5.125% 06/01/20250.2%
Signature Aviation US Holdings Inc4.000% 03/01/20280.2%
Drive Chassis Holdco LLC10.084% 04/10/20260.2%
Mattel, Inc.6.750% 12/31/20250.2%
Virgin Media Secured Finance plc5.500% 05/15/20290.2%
Murphy Oil Corp.5.875% 12/01/20270.2%
Micron Technology, Inc.5.327% 02/06/20290.2%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.2%
Surgery Center Holdings, Inc.10.000% 04/15/20270.2%
William Lyon Homes, Inc.6.625% 07/15/20270.2%
HCA, Inc.8.360% 04/15/20240.2%
Adient Global Holdings Ltd.4.875% 08/15/20260.2%
J Crew Group Inc.4.959% 03/05/20210.2%
Netflix, Inc.4.625% 05/15/20290.2%
Ball Corp.4.875% 03/15/20260.2%
Citgo Holding, Inc.9.250% 08/01/20240.2%
Oceaneering International, Inc.6.000% 02/01/20280.2%
Centennial Resource Production LLC5.375% 01/15/20260.2%
Coty, Inc.6.500% 04/15/20260.2%
Parsley Energy LLC5.625% 10/15/20270.2%
RegionalCare Hospital Partners Holdings Inc / Life9.750% 12/01/20260.2%
Granite US Holdings Corp11.000% 10/01/20270.2%
Baffinland Iron Mines Corp / Baffinland Iron Mines8.750% 07/15/20260.2%
Stena AB7.000% 02/01/20240.2%
Core & Main Holdings LP8.625% 09/15/20240.2%
Sensata Technologies BV5.625% 11/01/20240.2%
BWAY Holding Co.7.250% 04/15/20250.2%
Radiology Partners Inc9.250% 02/01/20280.2%
Banff Merger Sub Inc9.750% 09/01/20260.2%
Brink's Co/The4.625% 10/15/20270.2%
DocuSign Inc0.500% 09/15/20230.2%
FAGE International SA/ FAGE USA Dairy Industry Inc5.625% 08/15/20260.2%
LCPR Senior Secured Financing DAC6.750% 10/15/20270.2%
CSN Resources SA7.625% 04/17/20260.2%
Newell Rubbermaid, Inc.5.625% 04/01/20360.2%
Arconic Inc6.750% 01/15/20280.2%
Hilton Domestic Operating Co, Inc.5.125% 05/01/20260.2%
Penn National Gaming, Inc.5.625% 01/15/20270.2%
Murphy Oil USA, Inc.4.750% 09/15/20290.2%
Starfruit Finco BV / Starfruit US Holdco LLC8.000% 10/01/20260.2%
Minerva Luxembourg SA5.875% 01/19/20280.2%
CCO Holdings LLC / CCO Holdings Capital Corp.4.750% 03/01/20300.2%
Sally Holdings LLC / Sally Capital, Inc.5.625% 12/01/20250.2%
Tenneco, Inc.5.000% 07/15/20260.2%
Azul Investments LLP5.875% 10/26/20240.2%
Adient US LLC7.000% 05/15/20260.2%
Toll Brothers Finance Corp.4.350% 02/15/20280.2%
Fairstone Financial Inc7.875% 07/15/20240.2%
Waste Pro USA Inc5.500% 02/15/20260.2%
Indigo Natural Resources LLC6.875% 02/15/20260.2%
Berry Petroleum Co.7.000% 02/15/20260.2%
NGPL Pipeco LLC4.875% 08/15/20270.2%
Titan Acquisition Ltd / Titan Co-Borrower LLC7.750% 04/15/20260.2%
Uber Technologies Inc8.000% 11/01/20260.2%
Coeur Mining, Inc.5.875% 06/01/20240.2%
Enterprise Development Authority/The12.000% 07/15/20240.2%
Hub International Ltd.7.000% 05/01/20260.2%
Diebold, Inc.8.500% 04/15/20240.2%
Williams Scotsman International Inc6.875% 08/15/20230.2%
Parexel Intl Corp.4.395% 09/27/20240.2%
Shea Homes LP / Shea Homes Funding Corp.6.125% 04/01/20250.2%
Sinclair Broadcast Group, Inc.5.875% 03/15/20260.2%
Wyndham Worldwide Corp.5.750% 04/01/20270.2%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.2%
Thor Industries, Inc.5.438% 02/01/20260.2%
LGI Homes, Inc.6.875% 07/15/20260.2%
Diamond Sports Group LLC / Diamond Sports Finance6.625% 08/15/20270.2%
Schaeffler Verwaltung Zwei GmbH4.750% 09/15/20260.2%
Diamond Sports Group LLC / Diamond Sports Finance5.375% 08/15/20260.2%
EW Scripps Co.5.125% 05/15/20250.2%
Geo Group, Inc.6.000% 04/15/20260.2%
Itron, Inc.5.000% 01/15/20260.2%
Twin River Worldwide Holdings Inc6.750% 06/01/20270.2%
Toll Brothers Finance Corp.4.875% 03/15/20270.2%
GrubHub Holdings Inc5.500% 07/01/20270.2%
BCPE Cycle Merger Sub II Inc10.625% 07/15/20270.2%
Horizon Therapeutics USA Inc5.500% 08/01/20270.2%
Trinseo Materials Operating SCA5.375% 09/01/20250.2%
Laredo Petroleum Holdings, Inc.10.125% 01/15/20280.2%
PetSmart, Inc.5.670% 03/11/20220.2%
Churchill Downs, Inc.4.750% 01/15/20280.2%
II-VI Inc5.145% 03/08/20260.2%
Booz Allen Hamilton, Inc.5.125% 05/01/20250.2%
GCI LLC6.875% 04/15/20250.2%
Callon Petroleum Co.6.375% 07/01/20260.2%
TopBuild Corp.5.625% 05/01/20260.2%
Sirius XM Radio, Inc.5.000% 08/01/20270.2%
Netflix, Inc.3.625% 06/15/20300.2%
United Rentals, Inc.4.875% 01/15/20280.2%
NextEra Energy Operating Partners LP4.500% 09/15/20270.2%
AHP Health Partners Inc9.750% 07/15/20260.2%
Beazer Homes USA, Inc.7.250% 10/15/20290.2%
Belo Corp.7.250% 09/15/20270.2%
Playtika Holding Corp7.645% 12/03/20240.2%
HCA, Inc.5.875% 02/01/20290.2%
PBF Finance Corp.6.000% 02/15/20280.2%
William Carter Co.5.625% 03/15/20270.2%
Enviva Partners LP / Enviva Partners Finance Corp6.500% 01/15/20260.2%
BEP Ulterra Holdings Inc.6.895% 11/26/20250.2%
TerraForm Power Operating LLC4.750% 01/15/20300.2%
Wynn Macau Ltd.5.500% 10/01/20270.2%
Centennial Resource Production LLC6.875% 04/01/20270.2%
Lamb Weston Holdings, Inc.4.875% 11/01/20260.2%
Garda World Security Corp4.625% 02/15/20270.2%
Buena Vista Gaming Authority13.000% 04/01/20230.2%
WPX Energy, Inc.5.250% 09/15/20240.2%
Gray Television, Inc.7.000% 05/15/20270.2%
QEP Resources, Inc.5.250% 05/01/20230.2%
Altran Technologies9.064% 06/26/20260.2%
Intertape Polymer Group Inc7.000% 10/15/20260.2%
American Axle & Manufacturing, Inc.6.500% 04/01/20270.2%
HCA, Inc.7.500% 12/15/20230.2%
Nine Energy Service Inc8.750% 11/01/20230.2%
Intesa Sanpaolo SpA5.017% 06/26/20240.2%
Altice Luxembourg SA10.500% 05/15/20270.2%
AMC Networks, Inc.5.000% 04/01/20240.2%
Corecivic Inc.6.265% 12/12/20240.2%
Cheniere Energy Partners LP5.625% 10/01/20260.2%
Alliant Holdings Intermediate LLC6.750% 10/15/20270.2%
T-Mobile USA, Inc.6.500% 01/15/20260.2%
HAT Holdings I LLC / HAT Holdings II LLC5.250% 07/15/20240.2%
Muthoot Finance Ltd6.125% 10/31/20220.2%
Credit Suisse Group AG7.250% 09/12/21680.2%
MEG Energy Corp.7.125% 02/01/20270.2%
Texas Capital Bank NA/Dallas TX5.250% 01/31/20260.2%
Century Communities, Inc.6.750% 06/01/20270.2%
Gray Television, Inc.5.875% 07/15/20260.2%
Navient Corp.5.000% 03/15/20270.2%
Centene Corp.4.750% 01/15/20250.2%
CSI Compressco LP / CSI Compressco Finance Inc7.500% 04/01/20250.2%
Yak Access LLC12.319% 07/10/20260.2%
Ladder Capital Finance Holdings LLC/Ladder Capital5.250% 10/01/20250.2%
Buckeye Partners L.P.6.375% 01/22/20780.2%
Provident Funding Associates L.P. / PFG Finance Co6.375% 06/15/20250.2%
Koppers, Inc.6.000% 02/15/20250.2%
Transportadora de Gas del Sur S.A.6.750% 05/02/20250.2%
Pactiv Corp.7.950% 12/15/20250.2%
Forming Machining Indust5.945% 10/09/20250.2%
Industrias Penoles SAB de CV5.650% 09/12/20490.2%
Capitol Investment Merger Sub 2 LLC10.000% 08/01/20240.2%
BRF SA4.875% 01/24/20300.2%
eG Global Finance PLC8.500% 10/30/20250.2%
H&E Equipment Services, Inc.5.625% 09/01/20250.2%
Surgery Center Holdings, Inc.6.750% 07/01/20250.2%
American Woodmark Corp.4.875% 03/15/20260.2%
Boyd Gaming Corp.6.000% 08/15/20260.2%
Con-way, Inc.6.700% 05/01/20340.2%
Compass Minerals International, Inc.6.750% 12/01/20270.2%
IAA Inc5.500% 06/15/20270.2%
Sirius XM Radio, Inc.4.625% 07/15/20240.2%
Hess Corp.5.600% 02/15/20410.2%
Exterran Partners L.P. / EXLP Finance Corp.6.250% 04/01/20280.2%
Fair Isaac Corp.5.250% 05/15/20260.2%
Owens Corning4.300% 07/15/20470.2%
Medallion Midland4.895% 10/31/20240.2%
Huntington Bancshares, Inc.5.700% 12/31/20990.2%
Everi Payments Inc7.500% 12/15/20250.2%
Masonite International Corp.5.750% 09/15/20260.2%
Springleaf Finance Corp.5.375% 11/15/20290.2%
UAL Corp.4.875% 01/15/20250.2%
Air Medical Group Holdings, Inc.6.375% 05/15/20230.2%
Scientific Games International, Inc.7.000% 05/15/20280.2%
VeriSign, Inc.5.250% 04/01/20250.2%
Wendy's International, Inc.7.000% 12/15/20250.2%
Cardtronics Inc / Cardtronics USA Inc5.500% 05/01/20250.2%
MEDNAX, Inc.6.250% 01/15/20270.2%
PetSmart, Inc.7.125% 03/15/20230.2%
Exgen Renewables IV, LLC4.910% 11/28/20240.2%
Rain CII Carbon LLC7.250% 04/01/20250.2%
Centene Corp.4.250% 12/15/20270.2%
Mong Duong Finance Holdings BV5.125% 05/07/20290.2%
Pinnacle Bidco PLC6.375% 02/15/20250.2%
JB Poindexter & Co., Inc.7.125% 04/15/20260.2%
W&T Offshore, Inc.9.750% 11/01/20230.2%
Mohegan Tribal Gaming Authority7.875% 10/15/20240.2%
Univision Communications Inc.4.395% 03/15/20240.2%
MPH Acquisition Holdings LLC7.125% 06/01/20240.2%
Stevens Holding Co Inc6.125% 10/01/20260.2%
VF Holding Corp8.895% 07/02/20260.2%
Hillman Group, Inc.6.375% 07/15/20220.2%
Trade Desk, Inc./The0.000% -0.2%
Matador Resources Co.5.875% 09/15/20260.1%
Rackspace Hosting, Inc.8.625% 11/15/20240.1%
Forterra, Inc.4.645% 10/25/20230.1%
Acrisure LLC / Acrisure Finance Inc7.000% 11/15/20250.1%
Buckeye Partners L.P.3.950% 12/01/20260.1%
Lululemon Athletica, Inc.0.000% -0.1%
Greenko Solar Mauritius Ltd5.950% 07/29/20260.1%
Fair Isaac Corp.4.000% 06/15/20280.1%
Amsted Industries, Inc.4.625% 05/15/20300.1%
j2 Cloud Services LLC / j2 Cloud Co-Obligor Inc6.000% 07/15/20250.1%
DG Investment Intermediate Holdings 2, Inc. (aka Convergint Technologies Holdings, LLC)4.645% 02/03/20250.1%
Virgin Media Secured Finance plc4.875% 01/15/20270.1%
Oceaneering International, Inc.4.650% 11/15/20240.1%
Sealed Air Corp.6.875% 07/15/20330.1%
Tenet Healthcare Corp.4.875% 01/01/20260.1%
Catalent Pharma Solutions Inc5.000% 07/15/20270.1%
Wynn Las Vegas LLC5.500% 03/01/20250.1%
ProAmpac PG Borrower LLC5.295% 11/20/20230.1%
Helix Gen Funding, LLC5.395% 06/03/20240.1%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.1%
Kaisa Group Holdings Ltd.9.375% 06/30/20240.1%
Badger Meter, Inc.0.000% -0.1%
Energizer Holdings, Inc.6.375% 07/15/20260.1%
Warrior Met Coal Inc8.000% 11/01/20240.1%
Weight Watchers International, Inc.8.625% 12/01/20250.1%
AES Corp.4.500% 03/15/20230.1%
Bleriot US Bidco Inc6.695% 10/08/20260.1%
Summit Materials LLC6.500% 03/15/20270.1%
Barminco Finance Pty Ltd.6.625% 05/15/20220.1%
Boyne USA Inc7.250% 05/01/20250.1%
Intelsat Jackson Holdings SA8.500% 10/15/20240.1%
CMA CGM SA5.250% 01/15/20250.1%
Centene Corp.4.625% 12/15/20290.1%
Blue Cube Spinco, Inc.10.000% 10/15/20250.1%
Qorvo, Inc.4.375% 10/15/20290.1%
Lower Cadence Holdings L5.645% 05/08/20260.1%
SM Energy Co.6.625% 01/15/20270.1%
CDW Corp.5.500% 12/01/20240.1%
Clear Channel Worldwide Holdings, Inc.9.250% 02/15/20240.1%
Pulte Group, Inc.6.375% 05/15/20330.1%
SPCM S.A.4.875% 09/15/20250.1%
Stena International SA6.125% 02/01/20250.1%
Millicom International Cellular S.A.6.625% 10/15/20260.1%
Ecuador Government International Bond10.750% 01/31/20290.1%
Targa Resources Partners L.P.5.375% 02/01/20270.1%
United Group BV3.625% 02/15/20280.1%
BCD Acquisition, Inc.9.625% 09/15/20230.1%
PDC Energy, Inc.6.125% 09/15/20240.1%
Exterran Partners L.P. / EXLP Finance Corp.6.875% 04/01/20270.1%
NSG Holdings LLC / NSG Holdings, Inc.7.750% 12/15/20250.1%
MPT Operating Partnership L.P.5.000% 10/15/20270.1%
Acrisure LLC / Acrisure Finance Inc8.125% 02/15/20240.1%
Titan Sub LLC6.645% 09/19/20260.1%
Netflix, Inc.3.875% 11/15/20290.1%
MEG Energy Corp.6.500% 01/15/20250.1%
Cogent Communications Group, Inc.5.375% 03/01/20220.1%
Eoc Group Inc4.895% 02/28/20250.1%
Murphy Oil USA, Inc.5.625% 05/01/20270.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.000% 12/01/20240.1%
Hecla Mining Co.6.875% 05/01/20210.1%
Compass Minerals International, Inc.4.875% 07/15/20240.1%
Dutch Lion BV11.250% 06/15/20200.1%
Select Medical Corp.6.250% 08/15/20260.1%
Installed Building Products, Inc.5.750% 02/01/20280.1%
WPX Energy, Inc.5.750% 06/01/20260.1%
Jaguar Land Rover Automotive plc6.875% 11/15/20260.1%
Buckeye Partners L.P.4.125% 12/01/20270.1%
OCI NV6.625% 04/15/20230.1%
Navicure Inc5.645% 09/18/20260.1%
Bill Barrett Corp.7.000% 10/15/20220.1%
Shockwave Medical Inc0.000% -0.1%
Ortho-Clinical Diagnostics Inc / Ortho-Clinical Di7.250% 02/01/20280.1%
Inter Media and Communication SpA4.875% 12/31/20220.1%
SolarEdge Technologies, Inc.0.000% -0.1%
Exterran Energy Solutions L.P. / EES Finance Corp.8.125% 05/01/20250.1%
Airxcel, Inc.6.145% 04/28/20250.1%
Buenos Aires, Argentina7.500% 06/01/20270.1%
Freedom Mortgage Corp8.250% 04/15/20250.1%
Merlin Entertainments PLC5.750% 06/15/20260.1%
Project Boost Purchaser5.145% 05/22/20260.1%
MHP Lux SA6.950% 04/03/20260.1%
KKR CLO 28 LTD0.000% 03/15/20310.1%
Targa Resources Partners L.P.5.875% 04/15/20260.1%
Medallia Inc0.000% -0.1%
Transocean Pontus Ltd6.125% 08/01/20250.1%
WPX Energy, Inc.5.250% 10/15/20270.1%
LHC3 PLC4.125% 08/15/20240.1%
Province of Neuquen7.500% 04/27/20250.1%
Provincia de Mendoza Argentina8.375% 05/19/20240.1%
Province of Santa Fe6.900% 11/01/20270.1%
Frontera Generation Hold5.920% 05/02/20250.1%
West Street Merger Sub Inc6.375% 09/01/20250.1%
HealthSouth Corp.4.500% 02/01/20280.1%
Pinduoduo Inc0.000% 10/01/20240.1%
Endeavor Energy Resources L.P.5.750% 01/30/20280.1%
NCI Building Systems, Inc.8.000% 04/15/20260.1%
Louisiana-Pacific Corp.4.875% 09/15/20240.1%
Navitas Midstream Midland Basin, LLC6.145% 12/13/20240.1%
Tempo Acquisition LLC / Tempo Acquisition Finance6.750% 06/01/20250.1%
AES Corp.5.125% 09/01/20270.1%
NEP/NCP Holdco Inc8.794% 10/19/20260.1%
Revlon, Inc. Class A5.409% 09/07/20230.1%
Bridgebio Pharma Inc0.000% -0.1%
Geopark Ltd.6.500% 09/21/20240.1%
Hawaiian Airlines Class B Pass Through Certificate4.950% 01/15/20220.1%
Sonic Automotive, Inc.6.125% 03/15/20270.1%
Teekay Corp.9.250% 11/15/20220.1%
Kernel Holding SA8.750% 01/31/20220.1%
Mattel, Inc.5.450% 11/01/20410.1%
Wabash National Corp.5.500% 10/01/20250.1%
SPX FLOW, Inc.5.875% 08/15/20260.1%
AG Merger Sub II Inc10.750% 08/01/20270.1%
Consolidated Communications, Inc.6.500% 10/01/20220.1%
Ahern Rentals, Inc.7.375% 05/15/20230.1%
Ball Corp.0.000% -0.1%
Spotify Technology SA0.000% -0.1%
Flex Acquisition Co Inc7.875% 07/15/20260.1%
Credit Acceptance Corp.5.125% 12/31/20240.1%
Centene Corp.5.375% 06/01/20260.1%
DPL, Inc.4.350% 04/15/20290.1%
New Enterprise Stone & Lime Co., Inc.6.250% 03/15/20260.1%
Holly Energy Partners L.P. / Holly Energy Finance6.000% 08/01/20240.1%
Covanta Holding Corp.6.000% 01/01/20270.1%
Topgolf International, Inc.7.674% 02/09/20260.1%
Central American Bottling Corp.5.750% 01/31/20270.1%
Wyndham Hotels & Resorts Inc5.375% 04/15/20260.1%
F-Brasile SpA / F-Brasile US LLC7.375% 08/15/20260.1%
Minotaur Acquisition Inc6.645% 02/27/20260.1%
Trimas Corp.4.875% 10/15/20250.1%
Trade Me Group Ltd6.851% 05/01/20260.1%
Amsted Industries, Inc.5.625% 07/01/20270.1%
Latam Finance Ltd.7.000% 03/01/20260.1%
Cable One, Inc.0.000% -0.1%
Autopistas del Sol SA/Costa Rica7.375% 12/30/20300.1%
Valeant Pharmaceuticals International, Inc.6.125% 04/15/20250.1%
Owens Corning4.400% 01/30/20480.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.750% 10/01/20250.1%
Boyd Gaming Corp.4.750% 12/01/20270.1%
Denbury Resources, Inc.7.750% 02/15/20240.1%
Kansas City Southern0.000% -0.1%
NVA Holdings Inc6.875% 04/01/20260.1%
Oasis Petroleum, Inc.6.875% 03/15/20220.1%
Optiv Sec, Inc.4.895% 02/01/20240.1%
Square, Inc.0.375% 03/01/20220.1%
PPL Energy Supply LLC10.500% 01/15/20260.1%
Spectacle Gary Holdings, LLC11.000% 10/17/20240.1%
Ukraine Government7.375% 09/25/20320.1%
Hughes Satellite Systems Corp.5.250% 08/01/20260.1%
Rede D'or Finance Sarl4.950% 01/17/20280.1%
Scientific Games International, Inc.7.250% 11/15/20290.1%
Miller Homes Group Holdings PLC5.500% 10/15/20240.1%
United Natural Foods Inc5.895% 10/22/20250.1%
Quicken Loans Inc5.250% 01/15/20280.1%
Titan International, Inc.6.500% 11/30/20230.1%
Delhi International Airport Pvt Ltd6.450% 06/04/20290.1%
GW B-CR Security Corp9.500% 11/01/20270.1%
NEP/NCP Holdco Inc4.895% 10/05/20250.1%
KGA Escrow LLC7.500% 08/15/20230.1%
Teladoc, Inc.1.375% 05/15/20250.1%
Azure Power Solar Energy Pvt Ltd5.650% 12/24/20240.1%
Doncasters US Finance LLC (Doncasters US LLC)5.445% 04/09/20200.1%
MTS Systems Corp.5.750% 08/15/20270.1%
Radiate Holdco LLC / Radiate Finance Inc6.625% 02/15/20250.1%
Live Nation Entertainment, Inc.5.625% 03/15/20260.1%
MGM Growth Properties Operating Partnership LP / M5.625% 05/01/20240.1%
Presidio Holdings Inc8.250% 02/01/20280.1%
Montreign Resort Casino10.159% 01/24/20230.1%
Carvana Co8.875% 10/01/20230.1%
Univar Solutions USA Inc/Washington5.125% 12/01/20270.1%
Holly Energy Partners L.P. / Holly Energy Finance5.000% 02/01/20280.1%
Cloud Crane LLC10.125% 08/01/20240.1%
LivePerson, Inc.0.750% 03/01/20240.1%
LBC Tank Terminals Holding Netherlands BV6.875% 05/15/20230.1%
Shake Shack, Inc.0.000% -0.1%
Mattel, Inc.5.875% 12/15/20270.1%
RingCentral, Inc.0.000% 03/15/20230.1%
Gateway Casinos & Entertainment Ltd8.250% 03/01/20240.1%
Ypso Finance Bis SA6.000% 02/15/20280.1%
Insulet Corp.1.375% 11/15/20240.1%
YPF Energia Electrica SA10.000% 07/25/20260.1%
AES Gener SA6.350% 10/07/20790.1%
Terraform Global Operating LLC6.125% 03/01/20260.1%
Revlon Consumer Products Corp.5.750% 02/15/20210.1%
CWGS Group, LLC (aka Camping World, Inc.)4.695% 11/08/20230.1%
Match Group, Inc.5.000% 12/15/20270.1%
Univision Communications, Inc.5.125% 02/15/20250.1%
Flynn Restaurant Group8.684% 06/29/20260.1%
KB Home4.800% 11/15/20290.1%
Repligen Corp.0.375% 07/15/20240.1%
Telefonica Celular del Paraguay SA5.875% 04/15/20270.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.6.250% 11/01/20280.1%
Stars Group Holdings BV / Stars Group US Co-Borrow7.000% 07/15/20260.1%
Murphy Oil Corp.6.875% 08/15/20240.1%
Range Resources Corp.5.000% 08/15/20220.1%
SRS Distribution Inc8.250% 07/01/20260.1%
Motion Bondco DAC6.625% 11/15/20270.1%
Viper Energy Partners LP5.375% 11/01/20270.1%
Western Institutional5.872% 12/12/20260.1%
Tronox Inc6.500% 04/15/20260.1%
Algeco Scotsman Global Finance plc8.000% 02/15/20230.1%
GCP Applied Technologies, Inc.5.500% 04/15/20260.1%
Great Lakes Dredge & Dock Corp.8.000% 05/15/20220.1%
Station Casinos LLC5.000% 10/01/20250.1%
Trivium Packaging Finance BV8.500% 08/15/20270.1%
Under Armour, Inc.3.250% 06/15/20260.1%
Luckin Coffee Inc0.750% 01/15/20250.1%
Kuehg Corp10.195% 08/15/20250.1%
Hayward Acquisition Corp.5.145% 08/05/20240.1%
MGIC Investment Corp.5.750% 08/15/20230.1%
Viking Cruises Ltd.5.875% 09/15/20270.1%
TGP Holdings III LLC10.277% 09/20/20250.1%
Springleaf Finance Corp.7.125% 03/15/20260.1%
CSC Holdings LLC5.750% 01/15/20300.1%
CSC Holdings LLC6.500% 02/01/20290.1%
Go Daddy Operating Co LLC / GD Finance Co Inc5.250% 12/01/20270.1%
Dover Corp.0.000% -0.1%
Lithia Motors, Inc.4.625% 12/15/20270.1%
Five9, Inc.0.125% 05/01/20230.1%
Garrett LX I Sarl / Garrett Borrowing LLC5.125% 10/15/20260.1%
Pacific Drilling S.A.8.375% 10/01/20230.1%
Sugarhouse HSP Gaming Prop Mezz LP/Fin Corp.5.875% 05/15/20250.1%
Norbord, Inc.6.250% 04/15/20230.1%
Aerojet Rocketdyne Holdings, Inc.2.250% 12/15/20230.1%
PetSmart, Inc.5.875% 06/01/20250.1%
Rite Aid Corp.6.125% 04/01/20230.1%
Casey's General Stores, Inc.0.000% -0.1%
Teleflex, Inc.0.000% -0.1%
Eclipse Resources Corp.8.875% 07/15/20230.1%
Golar LNG Partners L.P.8.408% 05/18/20210.1%
Netflix, Inc.5.875% 11/15/20280.1%
Apple, Inc.0.000% -0.1%
Triumph Group, Inc.7.750% 08/15/20250.1%
Nationstar Mortgage Holdings, Inc.6.000% 01/15/20270.1%
Panther BF Aggregator 2 LP / Panther Finance Co In4.375% 05/15/20260.1%
Valeant Pharmaceuticals International, Inc.7.000% 03/15/20240.1%
Coupa Software Inc0.125% 06/15/20250.1%
Lonestar II Generation H7.610% 04/20/20260.1%
Fresh Market, Inc.9.750% 05/01/20230.1%
Transportes Aereos Portugueses SA5.625% 12/02/20240.1%
Endeavor Energy Resources L.P.5.500% 01/30/20260.1%
Arcor6.000% 07/06/20230.1%
Asbury Automotive Group, Inc.6.000% 12/15/20240.1%
Dometic Group AB3.000% 05/08/20260.1%
NVIDIA Corp.0.000% -0.1%
Acadia Healthcare Co., Inc.5.625% 02/15/20230.1%
Promontoria Holding 264 BV6.750% 08/15/20230.1%
Generac Holdings, Inc.0.000% -0.1%
MarketAxess Holdings, Inc.0.000% -0.1%
Hilton Domestic Operating Co, Inc.4.875% 01/15/20300.1%
Tullow Oil plc7.000% 03/01/20250.1%
MEG Energy Corp.0.000% -0.1%
Griffon Corp.5.250% 03/01/20220.1%
Wyndham Worldwide Corp.6.350% 10/01/20250.1%
Signature Aviation US Holdings Inc5.375% 05/01/20260.1%
Performance Food Group, Inc.5.500% 06/01/20240.1%
Simmons Foods, Inc.7.750% 01/15/20240.1%
QEP Resources, Inc.5.625% 03/01/20260.1%
Flynn Restaurant Group5.145% 06/27/20250.1%
CIT Group, Inc.5.250% 03/07/20250.1%
Service Corp. International5.125% 06/01/20290.1%
Teradyne, Inc.1.250% 12/15/20230.1%
Gibson Brands, Inc0.000% -0.1%
Valeant Pharmaceuticals International, Inc.5.250% 01/30/20300.1%
Transocean Proteus Ltd.6.250% 12/01/20240.1%
Clearway Energy Operating LLC5.000% 09/15/20260.1%
TCW CLO 2019-1 AMR Ltd5.010% 02/15/20290.1%
Elwood Energy LLC8.159% 07/05/20260.1%
Ancestry.com Inc.5.900% 08/27/20260.1%
Transocean Phoenix 2 Ltd.7.750% 10/15/20240.1%
Jacobs Entertainment, Inc.7.875% 02/01/20240.1%
Transocean, Inc.6.800% 03/15/20380.1%
Chaparral Energy, Inc.8.750% 07/15/20230.1%
Trident TPI Holdings Inc9.250% 08/01/20240.1%
Qorvo, Inc.0.000% -0.1%
ReNew Power Pvt Ltd5.875% 03/05/20270.1%
Numericable Group S.A.3.375% 01/15/20280.1%
CSN Islands XI Corp.6.750% 01/28/20280.1%
Service Corp. International4.625% 12/15/20270.1%
Performance Food Group, Inc.5.500% 10/15/20270.1%
Lamb Weston Holdings, Inc.4.625% 11/01/20240.1%
Valeant Pharmaceuticals International, Inc.5.000% 01/30/20280.1%
Clearway Energy Operating LLC4.750% 03/15/20280.1%
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell o4.750% 06/01/20270.1%
NRG Energy, Inc.5.250% 06/15/20290.1%
Joseph T Ryerson & Son, Inc.11.000% 05/15/20220.1%
Ensco plc4.500% 10/01/20240.1%
Powerteam Services LLC9.195% 03/06/20260.1%
Weekley Homes LLC / Weekley Finance Corp.6.000% 02/01/20230.1%
Targa Resources Partners L.P.6.500% 07/15/20270.1%
UFC Holdings LLC5.350% 04/26/20260.1%
Clearway Energy Operating LLC5.750% 10/15/20250.1%
Sirius XM Radio, Inc.5.375% 07/15/20260.1%
North American Lifting Holdings, Inc. (aka TNT Crane & Rigging, Inc)10.945% 11/26/20210.1%
HCA, Inc.7.690% 06/15/20250.1%
PTC, Inc.4.000% 02/15/20280.1%
CONSOL Energy Inc11.000% 11/15/20250.1%
Wynn Macau Ltd.5.125% 12/15/20290.1%
TerraForm Power Operating LLC5.000% 01/31/20280.1%
Commercial Barge Line10.528% 11/12/20200.1%
Claire's Stores, Inc.8.421% 12/18/20260.1%
Moxie Patriot LLC7.392% 12/19/20200.1%
Madison Park Funding XXVII Ltd4.419% 04/20/20300.1%
Jonah Energy LLC / Jonah Energy Finance Corp7.250% 10/15/20250.1%
Claire's Stores, Inc.0.000% -0.1%
Ancestry.com Inc.5.441% 10/19/20230.1%
Panda Temple Power, LLC9.800% 02/07/20230.1%
Presidio Holdings Inc4.875% 02/01/20270.1%
Octagon Investment Partners 44 Ltd8.609% 07/20/20320.1%
Nabors Industries Ltd.7.500% 01/15/20280.1%
Nabors Industries Ltd.7.250% 01/15/20260.1%
Regatta XVI Funding Ltd5.803% 01/15/20330.0%
Mclaren Finance PLC5.750% 08/01/20220.0%
Melissa & Doug5.435% 06/19/20240.0%
Triumph Group, Inc.6.250% 09/15/20240.0%
Panda Power Funds6.750% 12/19/20200.0%
Trivium Packaging Finance BV5.500% 08/15/20260.0%
PTC, Inc.3.625% 02/15/20250.0%
Nevro Corp.1.750% 06/01/20210.0%
American Energy-Permian Basin LLC12.000% 10/01/20240.0%
Fastball Mergersub LLC5.199% 01/22/20270.0%
Polar US Borrower LLC6.625% 08/21/20250.0%
Trident TPI Holdings Inc6.625% 11/01/20250.0%
UTEX Industries5.645% 05/22/20210.0%
CIFC Funding 2013-III-R Ltd4.701% 04/24/20310.0%
UC Holdings0.000% -0.0%
Bleriot US Bidco Inc2.375% 10/08/20260.0%
Masonite International Corp.5.375% 02/01/20280.0%
Ensco plc8.000% 01/31/20240.0%
Eoc Group Inc3.426% 02/26/20260.0%
Arcor6.000% 07/06/20230.0%
Froneri US Inc7.408% 01/29/20280.0%
Credit Suisse Group AG5.100% 01/24/21700.0%
Britax Childcare4.500% 10/15/20200.0%
Lonestar II Generation H7.610% 04/20/20260.0%
Rockpoint Gas Storage Canada Ltd7.000% 03/31/20230.0%
Credit Default Swap1.000% 06/20/20200.0%
FGI Operating Company, LLC5.750% 05/15/20220.0%
Spectacle Gary Holding0.000% 11/07/20250.0%
Norbord, Inc.5.750% 07/15/20270.0%
FX USD/EUR 03/200.000% 03/09/20200.0%
Chaparral Energy, Inc.0.000% -0.0%
Jamestown CLO VII Ltd.4.394% 07/25/20270.0%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.0%
Remington Outdoor Co. Inc.0.000% -0.0%
FX USD/EUR 03/200.000% 03/09/20200.0%
Penson Technologies LLC0.000% -0.0%
FX GBP/USD 03/200.000% 03/05/20200.0%
Afren plc11.500% 02/01/20220.0%
Afren plc10.250% 04/08/20220.0%
FX USD/DKK 03/200.000% 03/13/20200.0%
Afren plc6.625% 12/09/20200.0%
Tonon Luxembourg S.A.6.500% 10/31/20240.0%
Templar Energy LLC0.000% -0.0%
Fairway Group Holdings Corp.0.000% 02/24/20240.0%
Fairway Group Holdings Corp.0.000% 11/24/20230.0%
FX EUR/USD 02/200.000% 02/14/20200.0%
Remington Outdoor Co. Inc.0.000% -0.0%
Templar Energy LLC0.000% -0.0%
US 10YR ULTRA FUT MAR200.000% 03/31/20200.0%
US 5YR NOTE (CBT) MAR200.000% 04/03/20200.0%
US LONG BOND(CBT) MAR200.000% 03/31/20200.0%
US ULTRA BOND CBT MAR200.000% 03/31/20200.0%
Washington Mutual, Inc.6.875% 06/15/20110.0%
EURO-BOBL FUT Mar200.000% 03/10/20200.0%
EURO-BUND FUTURE Mar200.000% 03/10/20200.0%
Fairway Group Acquisition Company0.000% -0.0%
General Motors Co.7.200% 01/15/20490.0%
Mirabela Nickel Ltd.1.000% 09/16/20440.0%
US 10YR NOTE (CBT)MAR200.000% 03/31/20200.0%
US 2YR NOTE (CBT) MAR200.000% 04/03/20200.0%
FX EUR/USD 02/200.000% 02/14/20200.0%
FX EUR/USD 02/200.000% 02/14/20200.0%
FX USD/EUR 02/200.000% 02/14/20200.0%
FX USD/GBP 03/200.000% 03/05/20200.0%
FX DKK/USD 03/200.000% 03/13/20200.0%
FX EUR/USD 02/200.000% 02/14/20200.0%
FX USD/EUR 03/200.000% 03/09/20200.0%
FX USD/EUR 02/200.000% 02/14/20200.0%
FX USD/GBP 03/200.000% 03/05/20200.0%

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.

Sector Allocationas of 02/28/2020

Sector Weighting Fund Change from Previous Quarter
Sector Weighting Fund Change from Previous Quarter
Basic Industry 0.0%
Consumer Goods arrowUp0.9%
Leisure arrowDown0.5%
Insurance 0.0%
Capital Goods arrowUp0.4%
Technology & Electronics arrowUp1.1%
Services arrowDown0.1%
Real Estate arrowUp0.6%
Energy arrowDown2.7%
Healthcare arrowUp0.4%
Telecommunications arrowDown0.8%
Automotive arrowDown0.1%
Other arrowUp0.5%
Banking arrowDown0.2%
Utility arrowDown0.7%
Transportation arrowDown0.1%
Media arrowUp0.2%
Retail arrowUp1.0%
Financial Services arrowUp0.3%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 03/27/2020
$0.065
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 02/29/2020 $0.03213 $7.41
Daily Daily 01/31/2020 $0.03310 $7.57

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 03/31/2020
Daily Daily 04/30/2020
Daily Daily 05/31/2020
Daily Daily 06/30/2020
Daily Daily 07/31/2020
Daily Daily 08/31/2020
Daily Daily 09/30/2020
Daily Daily 10/31/2020
Daily Daily 11/30/2020
Daily Daily 12/31/2020

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/18/2014 12/19/2014 $0.0899 $0.0792 $0.1691 $7.54
*

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. 

Upcoming Capital Gain Distribution

Record Date Ex-Dividend Date
12/17/2020 12/18/2020

Fees & Expenses

Fees & Expenses

Expense Ratioas of 02/29/2020

1.15%

Fund Documents

Fund Documents

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* Barron’s Top Fund Families of 2019, February 14, 2020, #5 in the Taxable Bond Category among 55 fund families. Based on the net total return of the one−year period ending 12/31/2019. #14 Overall ranking among 55 qualifying fund families based on the net total return of the one-year period ending 12/31/2019. Five-year Overall ranking is #30 out of 52 fund families; 10-year Overall ranking is #33 out of 45 fund families.

 

Source: Barron’s, “Barron’s Top Fund Families of 2019,” February 14, 2020. Barron’s rankings are based on asset weighted returns in funds in five categories: U.S. equity, world equity (including international and global portfolios), mixed asset (which invest in stocks, bonds and other securities), taxable bond, and tax-exempt (each a "Barron's ranking category"). Rankings also take into account an individual fund's performance within its Lipper peer universe. Lipper calculated each fund's net total return for the year ended December 31, 2019, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer "universe," as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2019 weighting of their Barron's ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron's ranking category. The process is repeated for the five- and ten-year rankings as well. Barron's Fund Family Rankings are awarded annually.

 

© Reuters 2020. All Rights Reserved. Lipper Analytical Services, Inc. is an independent mutual fund research and rating service. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

 

+

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.      

                    

1

Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to value with maximum sales charges and without sales charges. The dividend yield is calculated by annualizing the last dividend and dividing it by the fund’s net asset value with maximum sales charges and without sales charges.

 

2

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.

 

 

IMPORTANT INFORMATION

 

A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The 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 P - Performance is shown at net asset value (NAV). Class P shares are not subject to front-end or back-end sales charges.

Class P shares are only available on a limited basis through certain financial intermediaries and retirement and benefit plans. For additional information, see the Fund’s current prospectus.

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

 

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

 

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

 

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

 

The 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.

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