High Yield Core (High Quality)
Summary
Summary
KEY FACTS as of 09/30/2020
Vehicles
- This strategy is available as a:
- Separate Account
PORTFOLIO MANAGERS
Portfolio
Portfolio
Sector Allocationas of 09/30/2020
| Top Overweight | Portfolio | Index | Difference |
|---|---|---|---|
| Basic Industry | 13.9% | 10.1% | 3.8% |
| Media | 12.0% | 9.5% | 2.5% |
| Leisure | 7.2% | 5.9% | 1.3% |
| Retail | 5.9% | 5.0% | 0.9% |
| Utility | 3.5% | 2.6% | 0.9% |
| Automotive | 4.5% | 4.0% | 0.5% |
| Financial Services | 4.4% | 4.3% | 0.1% |
| Top Underweight | Portfolio | Index | Difference |
|---|---|---|---|
| Consumer Goods | 5.1% | 5.2% | -0.1% |
| Healthcare | 9.0% | 9.2% | -0.2% |
| Technology & Electronics | 4.8% | 5.0% | -0.2% |
| Transportation | 1.1% | 1.4% | -0.3% |
| Services | 3.8% | 4.5% | -0.7% |
| Banking | 0.6% | 1.3% | -0.7% |
| Capital Goods | 5.6% | 6.7% | -1.1% |
| Insurance | - | 1.1% | -1.1% |
| Energy | 11.6% | 13.2% | -1.6% |
| Real Estate | 2.4% | 4.1% | -1.7% |
| Telecommunications | 4.9% | 6.9% | -2.0% |
Portfolio Breakdownas of 09/30/2020
| Type | Portfolio | Index |
|---|
| High Yield Bonds | 92.5% | 100.0% |
| Investment Grade Bonds | 3.5% | - |
| Bank Loans | 3.2% | - |
| Equity | 0.0% | - |
| Cash | 0.7% | - |
Allocations are reported as of the date a security transaction is initiated; however, certain transactions may not settle until several days later. Accordingly, cash may appear as a negative allocation as a result of forward-settling instruments such as currency forwards, certain mortgage-backed securities, and U.S. treasury futures. "Other" may include municipal bonds and non-index holdings.
Credit Quality Distributionas of 09/30/2020
| Type | Portfolio | Index |
|---|
| BBB | 3.6% | - |
| BB | 54.4% | 55.1% |
| B | 37.4% | 33.4% |
| CCC | 4.5% | - |
| <CCC | 0.1% | - |
| Not Rated | 0.1% | - |
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. 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.
CHARACTERISTICS as of 09/30/2020
| Portfolio | Index |
|---|
| Portfolio | Index | |
|---|---|---|
| Average Coupon | 5.78% | 6.05% |
| Average Maturity | 7.41 Years | 6.42 Years |
| Average Effective Duration | 4.45 Years | 3.94 Years |
| Average Yield to Worst | 4.96% | 5.78% |
Portfolio data is based on the High Yield Core (High Quality) Representative Portfolio.
Performance
Performance
Average Annual Returns as of 09/30/2020
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception |
|---|
| Gross of Fees | -1.16% | 1.58% | 3.63% | 6.53% | - | 4.90% |
| Net of Fees | -1.45% | 1.17% | 3.23% | 6.12% | - | 4.50% |
| ICE BofA BB-B US High Yield Constrained Index | 0.55% | 3.14% | 4.41% | 6.59% | - | - |
Inception Date: July 1, 2014
Returns for periods of less than one year are not annualized.
Calendar Year Returnsas of 09/30/2020
| 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|
| Gross of Fees | 15.97% | -3.60% | 7.55% | 15.97% | -0.01% | -2.12% | - | - | - | - |
| Net of Fees | 15.51% | -3.96% | 7.15% | 15.53% | -0.37% | -2.33% | - | - | - | - |
| ICE BofA BB-B US High Yield Constrained Index | 15.10% | -2.04% | 6.98% | 14.72% | -2.80% | 3.49% | - | - | - | - |