LBNDX | Bond Debenture Fund Class A | Lord Abbett

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Bond Debenture Fund

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Daily price w/o sales charge as of 12/01/2023

$6.92

arrowUp$0.02

YTD Returns w/o sales charge as of 12/01/2023

3.97%

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 Bond Debenture Fund?

The Fund seeks to deliver high current income and long-term growth of capital by investing primarily in a variety of fixed income securities and select equity-related securities.

A PIONEER IN MULTI-SECTOR

Over four decades of multi-sector bond investing, emphasizing rigorous credit research.

A FLEXIBLE APPROACH

The flexibility to adjust allocations to take advantage of opportunities as market conditions change.

TIME-TESTED RESULTS

A long track record illustrates performance in many market environments.

Yield

Average Yield to Maturity as of 10/31/2023

8.00%

30-Day Standardized Yield 1 as of 10/31/2023  

  Subsidized2 Un-Subsidized3
w/o sales charge 6.55% 6.54%

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 10/31/2023

Total Net Assets
$19.85 B
Inception Date
04/01/1971
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.78%
Fund Net Expense Ratio
0.78%
Number of Holdings
808
Minimum Initial Investment
$1,000+

Fund Expense Ratio :

Gross 0.78%

Net 0.78%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/01/1971
w/o sales charge 3.65% 2.59% -1.67% 2.29% 3.35% 7.75%
Lipper Category Avg. Multi-Sector Income Funds - - - - - -
Bloomberg U.S. Aggregate Bond Index 1.64% 1.18% -4.47% 0.71% 1.37% -
w/ sales charge 1.33% 0.32% -2.41% 1.82% 3.12% 7.71%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 0.78%

Net 0.78%

Fund Expense Ratio :

Gross 0.78%

Net 0.78%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/01/1971
w/o sales charge 0.46% 3.07% -1.30% 0.99% 3.30% 7.72%
Lipper Category Avg. Multi-Sector Income Funds 1.82% 4.28% -1.21% 1.08% 2.37% -
Bloomberg U.S. Aggregate Bond Index -1.21% 0.64% -5.21% 0.10% 1.13% -
w/ sales charge -1.79% 0.73% -2.03% 0.52% 3.06% 7.67%

Fund Expense Ratio :

Gross 0.78%

Net 0.78%

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.

Type Assets
U.S. High Yield Corporate
U.S. Investment Grade Corporate
MBS
Non-U.S. Investment Grade Corporate
Non-U.S. High Yield Corporate
Equity
Bank Loans
Sovereign
ABS
CMBS
CLO
Municipals
Convertibles
Cash

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

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

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

Credit Quality Distribution as of 10/31/2023 View Portfolio

Rating Assets
Agency
AAA
AA
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 higher credit rating. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

INVESTMENT TEAM

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

22 Years of Industry Experience

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

Partner, Portfolio Manager

25 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner, Portfolio Manager

29 Years of Industry Experience

Robert S. Clark
Robert S. Clark, CFA

Portfolio Manager

26 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Partner, Deputy Director of Leveraged Credit

15 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

32 Years of Industry Experience

Supported By 76 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Performance

Average Yield to Maturity as of 10/31/2023

8.00%

30-Day Standardized Yield 1 as of 10/31/2023  

  Subsidized2 Un-Subsidized3
w/o sales charge 6.55% 6.54%

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

Fund Expense Ratio :

Gross 0.78%

Net 0.78%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/01/1971
w/o sales charge 3.65% 2.59% -1.67% 2.29% 3.35% 7.75%
Lipper Category Avg. Multi-Sector Income Funds - - - - - -
Bloomberg U.S. Aggregate Bond Index 1.64% 1.18% -4.47% 0.71% 1.37% -
w/ sales charge 1.33% 0.32% -2.41% 1.82% 3.12% 7.71%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 0.78%

Net 0.78%

Fund Expense Ratio :

Gross 0.78%

Net 0.78%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/01/1971
w/o sales charge 0.46% 3.07% -1.30% 0.99% 3.30% 7.72%
Lipper Category Avg. Multi-Sector Income Funds 1.82% 4.28% -1.21% 1.08% 2.37% -
Bloomberg U.S. Aggregate Bond Index -1.21% 0.64% -5.21% 0.10% 1.13% -
w/ sales charge -1.79% 0.73% -2.03% 0.52% 3.06% 7.67%

Fund Expense Ratio :

Gross 0.78%

Net 0.78%

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 Bloomberg U.S. Aggregate Bond Index
2022 -12.68% -13.01%
2021 3.26% -1.54%
2020 7.60% 7.51%
2019 13.37% 8.72%
2018 -3.79% 0.01%
2017 9.21% 3.54%
2016 12.35% 2.65%
2015 -1.74% 0.55%
2014 4.51% 5.97%
2013 7.78% -2.02%
2012 13.22% -
2011 3.88% -
2010 12.94% -
2009 35.37% -
2008 -20.26% -
2007 5.34% -
2006 9.87% -
2005 1.56% -
2004 8.56% -
2003 20.28% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2023 1.79% 0.12% -1.43% - 3.97%
2022 -5.95% -7.91% -1.74% 2.60% -12.68%
2021 0.83% 2.18% 0.11% 0.11% 3.26%
2020 -11.90% 10.10% 4.48% 6.17% 7.60%
2019 6.82% 3.60% 0.62% 1.82% 13.37%
2018 -1.01% -0.15% 2.37% -4.91% -3.79%
2017 2.66% 2.09% 2.54% 1.62% 9.21%
2016 1.64% 4.31% 4.75% 1.16% 12.35%
2015 3.40% -0.43% -3.62% -0.98% -1.74%
2014 2.83% 2.53% -1.54% 0.67% 4.51%
2013 3.11% -1.48% 2.69% 3.32% 7.78%
2012 5.66% 0.25% 4.45% 2.34% 13.22%
2011 4.21% 0.86% -6.56% 5.77% 3.88%
2010 3.69% -1.20% 6.61% 3.40% 12.94%
2009 2.40% 12.76% 11.53% 5.13% 35.37%
2008 -2.79% 1.42% -7.80% -12.29% -20.26%
2007 2.64% 1.10% 2.03% -0.51% 5.34%
2006 2.71% -0.52% 3.54% 3.85% 9.87%
2005 -1.86% 1.54% 1.52% 0.40% 1.56%
2004 1.74% -0.61% 2.95% 4.29% 8.56%
2003 3.34% 7.96% 1.97% 5.73% 20.28%
2002 0.11% -4.06% -1.93% 5.03% -1.08%
2001 3.61% -0.33% -3.48% 5.22% 4.86%
2000 -0.25% 0.91% 1.35% -2.81% -0.86%
1999 1.69% -0.14% -1.35% 3.72% 3.90%
1998 4.40% 0.61% -4.95% 4.94% 4.76%
1997 0.95% 5.61% 4.15% 1.49% 12.69%
1996 2.49% 1.09% 3.92% 3.25% 11.16%
1995 4.30% 5.69% 3.08% 3.41% 17.50%
1994 -0.87% -1.68% 0.53% -1.90% -3.87%
1993 6.02% 3.45% 2.17% 3.49% 15.97%
1992 5.52% 3.30% 4.58% 1.76% 16.00%
1991 13.83% 6.14% 8.09% 5.94% 38.34%
1990 -1.14% 3.24% -8.24% -1.31% -7.57%
1989 3.16% 3.50% 0.42% -2.01% 5.06%
1988 6.72% 3.47% 1.36% 1.67% 13.80%
1987 7.62% -0.63% 0.06% -4.80% 1.88%
1986 7.90% 2.31% -2.60% 2.87% 10.61%
1985 6.20% 6.60% 1.93% 4.87% 21.01%
1984 0.96% -4.81% 7.16% 1.92% 4.96%
1983 10.78% 5.47% -0.62% 0.68% 16.90%
1982 0.04% 2.77% 10.54% 12.22% 27.54%
1981 3.78% 2.33% -8.09% 7.88% 5.30%
1980 -9.93% 19.56% -1.46% 2.61% 8.88%
1979 6.46% 3.42% 1.25% -4.02% 7.00%
1978 2.24% 0.92% 5.75% -5.81% 2.77%
1977 -0.02% 5.96% -1.31% 2.35% 7.00%
1976 14.52% 2.74% 4.99% 5.99% 30.93%
1975 16.50% 8.54% -2.33% 4.95% 29.62%
1974 6.42% -7.46% -6.91% 3.54% -5.08%
1973 -0.69% -6.28% 5.63% -8.30% -9.84%
1972 5.02% -0.45% -0.44% 2.08% 6.26%
1971 - - 4.77% 6.03% 7.65%

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

Growth of $10,000 as of 10/31/2023

The chart begins on the Fund's inception date of 04/01/1971.

Based on a hypothetical Class A share investment of $10,000 on 04/01/1971 without sales charge and includes the reinvestment of all distributions.

 

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Type Assets
U.S. High Yield Corporate
U.S. Investment Grade Corporate
MBS
Non-U.S. Investment Grade Corporate
Non-U.S. High Yield Corporate
Equity
Bank Loans
Sovereign
ABS
CMBS
CLO
Municipals
Convertibles
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 10/31/2023

Rating Assets
Agency
AAA
AA
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 higher credit 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 09/30/2023

  • The Fund remained diversified across broad fixed income sectors. Beyond investment grade and high yield corporate bonds, the Fund maintained a meaningful allocation to agency mortgage-backed securities (MBS), as well as modest allocations to equities, EM sovereign and corporate debt, bank loans and municipal bonds. We believe select exposures to these sectors offer attractive risk-reward opportunities, potential portfolio diversification benefits and avenues for liquidity.
  • Within credit, the Fund continued to focus on higher carry, shorter duration high yield securities. High yield spreads have grinded tighter throughout the year, finishing slightly above 400 bps in September, which has helped offset the effects of rising bond yields in the asset class. However, with declining recessionary concerns helping to compress spreads to relatively tight levels, our primary focus has shifted towards identifying higher carry opportunities within the high yield universe. As primary markets have stabilized somewhat after a very slow 2022, we see the new issue high yield market as a strong source of carry. We continue to see value in the new issue high yield market as a strong source of carry given higher coupons and continue to actively participate in select primary issues. We added to the Fund’s BB and Single-B credit exposure throughout the period as macroeconomic data in the U.S. has been mostly positive. We used higher-rated investment grade credit that exhibited tight valuations as a source of cash for these trades.
  • Within corporate sectors, we remained constructive on the Energy and Basic Industry sectors. We continue to view Energy as a much more defensive sector than in prior periods given healthy balance sheets, reduced capital spending, and an increased focus on free cash flow. Within Basic Industry, we continue to be constructive in the Metals/Mining, Chemicals, and Steel subsectors due to relatively resilient commodity prices. We believe these issuers have better upside potential given the recent outperformance of cyclical parts of credit markets.
  • The Fund’s allocation to bank loans increased over the most recent quarter as we became more focused on investments that offered higher carry opportunities. Notably, bank loan exposure within the Fund had been around recent lows in the first half of the year as recession concerns have remained relatively elevated. We have targeted higher quality bank loans, specifically loans rated BB as we remain wary of sensitivity to potential tail risks.
  • We maintained the Fund’s modest exposure in Agency MBS, which offers a source of high quality, liquid spread. We continue to closely monitor this asset class for technical pressures and have modestly reduced some of this allocation in recent months and rotated into more credit-sensitive sectors

Portfolio Details as of 10/31/2023

Total Net Assets
$19.85 B
Average Effective Duration
3.04 Years
Average Life
7.13 Years
Average Maturity
8.18 Years
Number of Issues
808
Average Yield to Maturity
8.00%

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
30-YR GNMA II-TBA PROD DEC 5.000% 08/01/2053 1.4%
30-YR GNMA II-TBA PROD DEC 6.000% 08/01/2053 1.0%
30-YR UMBS-TBA PROD DEC 5.500% 06/01/2053 0.9%
30-YR GNMA II-TBA PROD DEC 7.000% 11/01/2052 0.8%
30-YR UMBS-TBA PROD DEC 6.000% 07/01/2053 0.8%
30-YR GNMA II-TBA PROD DEC 5.500% 07/01/2053 0.7%
30-YR UMBS-TBA PROD DEC 6.500% 09/01/2053 0.7%
30-YR GNMA II-TBA PROD DEC 3.000% 01/01/2052 0.6%
DISH Network Corp 11.750% 11/15/2027 0.6%
American Airlines Inc/AAdvantage Loyalty IP Ltd 5.750% 04/20/2029 0.6%
% of Total Assets 8.1%

Click here for an An Update on Silicon Valley Bank and Signature Bank and Lord Abbett Fund Portfolio Holdings

Holding Coupon Maturity Assets
30-YR GNMA II-TBA PROD DEC5.000% 08/01/20531.4%
30-YR GNMA II-TBA PROD DEC6.000% 08/01/20531.0%
30-YR UMBS-TBA PROD DEC5.500% 06/01/20530.9%
30-YR GNMA II-TBA PROD DEC7.000% 11/01/20520.8%
30-YR UMBS-TBA PROD DEC6.000% 07/01/20530.8%
30-YR GNMA II-TBA PROD DEC5.500% 07/01/20530.7%
30-YR UMBS-TBA PROD DEC6.500% 09/01/20530.7%
30-YR GNMA II-TBA PROD DEC3.000% 01/01/20520.6%
DISH Network Corp11.750% 11/15/20270.6%
American Airlines Inc/AAdvantage Loyalty IP Ltd5.750% 04/20/20290.6%
30-YR GNMA II-TBA PROD DEC4.000% 07/01/20520.5%
Sprint Capital Corp6.875% 11/15/20280.5%
Turkiye Government International Bond5.125% 02/17/20280.5%
30-YR UMBS-TBA PROD DEC4.000% 09/01/20520.5%
Antero Resources Corp5.375% 03/01/20300.5%
SM Energy Co6.625% 01/15/20270.4%
Crowdstrike Holdings Inc3.000% 02/15/20290.4%
TransDigm Inc5.500% 11/15/20270.4%
US 10YR NOTE (CBT)Dec230.000% 12/29/20230.4%
15-YR UMBS-TBA PROD DEC6.000% 05/01/20380.4%
SHOW Trust 2022-BIZ8.319% 01/15/20270.4%
30-YR GNMA II-TBA PROD DEC6.500% 10/01/20520.4%
30-YR GNMA II-TBA PROD DEC4.500% 06/01/20530.4%
15-YR UMBS-TBA PROD DEC5.500% 05/01/20380.4%
Vital Energy Inc10.125% 01/15/20280.4%
30-YR UMBS-TBA PROD DEC4.500% 04/01/20530.4%
CHS/Community Health Systems Inc4.750% 02/15/20310.4%
Dominican Republic International Bond6.000% 02/22/20330.3%
Vistra Operations Co LLC4.375% 05/01/20290.3%
Celanese US Holdings LLC6.165% 07/15/20270.3%
Mexican Bonos7.500% 05/26/20330.3%
MEG Energy Corp7.125% 02/01/20270.3%
Hilton Domestic Operating Co Inc4.875% 01/15/20300.3%
Tenet Healthcare Corp6.125% 10/01/20280.3%
Calpine Corp4.625% 02/01/20290.3%
Vmed O2 UK Financing I PLC4.250% 01/31/20310.3%
UBS Group AG3.869% 01/12/20290.3%
BARCLAYS CAPITAL0.010% 11/01/20230.3%
Affirm Asset Securitization Trust 2023-A6.610% 01/18/20280.3%
FMG Resources August 2006 Pty Ltd4.375% 04/01/20310.3%
Western Midstream Operating LP4.050% 02/01/20300.3%
Pacific Gas and Electric Co6.150% 01/15/20330.3%
30-YR UMBS-TBA PROD DEC7.000% 07/01/20530.3%
Ford Motor Co3.250% 02/12/20320.3%
Cenovus Energy Inc5.400% 06/15/20470.3%
Netflix Inc4.875% 04/15/20280.3%
Cloud Software Group Inc9.000% 09/30/20290.3%
BHMS 2018-ATLS6.882% 07/15/20350.3%
Transocean Inc8.750% 02/15/20300.3%
CCO Holdings LLC / CCO Holdings Capital Corp5.375% 06/01/20290.3%
Regal Rexnord Corp6.400% 04/15/20330.3%
VICI Properties LP / VICI Note Co Inc4.625% 12/01/20290.3%
Royal Caribbean Cruises Ltd7.250% 01/15/20300.3%
Murphy USA Inc0.000% -0.3%
MSCI Inc3.875% 02/15/20310.3%
30-YR GNMA II-TBA PROD DEC3.500% 03/01/20520.3%
Westlake Automobile Receivables Trust 2021-13.910% 09/15/20270.3%
Endeavor Energy Resources LP / EER Finance Inc5.750% 01/30/20280.3%
Emerald Debt Merger Sub LLC6.625% 12/15/20300.3%
MEG Energy Corp5.875% 02/01/20290.3%
CaixaBank SA6.208% 01/18/20290.3%
MF1 2022-FL9 LLC7.484% 06/19/20370.3%
Range Resources Corp8.250% 01/15/20290.3%
Synopsys Inc0.000% -0.3%
Chesapeake Energy Corp6.750% 04/15/20290.3%
Apache Corp5.100% 09/01/20400.3%
Costa Rica Government International Bond7.158% 03/12/20450.3%
TransDigm Inc4.625% 01/15/20290.3%
Medline Borrower LP3.875% 04/01/20290.3%
ON Semiconductor Corp3.875% 09/01/20280.3%
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer6.750% 04/15/20280.3%
Ford Motor Credit Co LLC4.000% 11/13/20300.2%
Standard Chartered PLC7.767% 11/16/20280.2%
Topaz Solar Farms LLC5.750% 09/30/20390.2%
Range Resources Corp0.000% -0.2%
First-Citizens Bank & Trust Co6.125% 03/09/20280.2%
Australia & New Zealand Banking Group Ltd6.742% 12/08/20320.2%
Citigroup Mortgage Loan Trust 2022-INV13.000% 11/27/20510.2%
Ares Management Corp0.000% -0.2%
Range Resources Corp4.750% 02/15/20300.2%
Deutsche Bank AG/New York NY7.079% 02/10/20340.2%
Fluor Corp4.250% 09/15/20280.2%
Southwestern Energy Co5.375% 02/01/20290.2%
Angolan Government International Bond9.375% 05/08/20480.2%
Royal Caribbean Cruises Ltd9.250% 01/15/20290.2%
Catalent Pharma Solutions Inc3.125% 02/15/20290.2%
FirstEnergy Corp4.150% 07/15/20270.2%
Republic of South Africa Government International Bond4.300% 10/12/20280.2%
Sands China Ltd3.100% 03/08/20290.2%
MEG Energy Corp0.000% -0.2%
CSMC 2021-BRIT8.908% 05/15/20260.2%
Palomino Funding Trust I7.233% 05/17/20280.2%
Connecticut Avenue Securities Trust 2023-R017.721% 12/25/20420.2%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.250% 05/15/20270.2%
Diamondback Energy Inc3.500% 12/01/20290.2%
Cameco Corp0.000% -0.2%
Vistra Operations Co LLC5.125% 05/13/20250.2%
Frontier Communications Holdings LLC8.750% 05/15/20300.2%
Carnival Corp5.750% 03/01/20270.2%
Freddie Mac Structured Agency Credit Risk Debt Notes8.571% 04/25/20430.2%
Occidental Petroleum Corp6.125% 01/01/20310.2%
Peraton Corp9.174% 02/01/20280.2%
PDD Holdings Inc0.000% -0.2%
Frontier Communications Holdings LLC5.875% 10/15/20270.2%
Arista Networks Inc0.000% -0.2%
UPC Broadband Finco BV4.875% 07/15/20310.2%
Carnival Corp9.875% 08/01/20270.2%
Bausch + Lomb Corp8.755% 05/10/20270.2%
Astoria Energy LLC8.939% 12/10/20270.2%
Weatherford International Ltd8.625% 04/30/20300.2%
Matador Resources Co6.875% 04/15/20280.2%
Churchill Downs Inc5.500% 04/01/20270.2%
TK Elevator US Newco Inc5.250% 07/15/20270.2%
CQP Holdco LP / BIP-V Chinook Holdco LLC5.500% 06/15/20310.2%
Serbia International Bond6.250% 05/26/20280.2%
Carnival Corp4.000% 08/01/20280.2%
UniCredit SpA7.296% 04/02/20340.2%
Deutsche Bank AG/New York NY6.720% 01/18/20290.2%
NextEra Energy Operating Partners LP3.875% 10/15/20260.2%
Uruguay Government International Bond9.750% 07/20/20330.2%
First Citizens BancShares Inc/NC0.000% -0.2%
GS Mortgage Securities Corp Trust 2023-FUN7.426% 03/15/20280.2%
El Salvador Government International Bond8.625% 02/28/20290.2%
SeaWorld Parks & Entertainment Inc5.250% 08/15/20290.2%
ArcelorMittal SA6.550% 11/29/20270.2%
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC3.500% 03/15/20290.2%
Brazil Notas do Tesouro Nacional Serie F10.000% 01/01/20290.2%
Senegal Government International Bond6.250% 05/23/20330.2%
Air Canada3.875% 08/15/20260.2%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.500% 03/01/20250.2%
SBA Communications Corp3.875% 02/15/20270.2%
Continental Resources Inc/OK4.375% 01/15/20280.2%
Kosmos Energy Ltd7.750% 05/01/20270.2%
Ecopetrol SA5.875% 05/28/20450.2%
McAfee Corp7.375% 02/15/20300.2%
Elmwood CLO 23 Ltd7.194% 04/16/20360.2%
Stonegate Pub Co Financing 2019 PLC8.250% 07/31/20250.2%
Post Holdings Inc4.500% 09/15/20310.2%
CCO Holdings LLC / CCO Holdings Capital Corp7.375% 03/01/20310.2%
Jordan Government International Bond7.500% 01/13/20290.2%
Ford Motor Co6.100% 08/19/20320.2%
Mohegan Tribal Gaming Authority8.000% 02/01/20260.2%
Roller Bearing Co of America Inc4.375% 10/15/20290.2%
Constellation Energy Generation LLC6.250% 10/01/20390.2%
Callon Petroleum Co6.375% 07/01/20260.2%
Altice France SA/France8.125% 02/01/20270.2%
GRACIE POINT INTERNATIONAL FUNDING 2023-17.174% 09/01/20260.2%
NatWest Group PLC7.472% 11/10/20260.2%
MSCI Inc4.000% 11/15/20290.2%
Petroleos Mexicanos10.000% 02/07/20330.2%
Ally Financial Inc6.700% 02/14/20330.2%
Boeing Co/The5.805% 05/01/20500.2%
Post Holdings Inc4.625% 04/15/20300.2%
VZ Secured Financing BV5.000% 01/15/20320.2%
Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp4.875% 05/01/20290.2%
CrownRock LP / CrownRock Finance Inc5.000% 05/01/20290.2%
Crescent Energy Finance LLC7.250% 05/01/20260.2%
Santander Drive Auto Receivables Trust 2023-35.770% 11/15/20300.2%
H&E Equipment Services Inc3.875% 12/15/20280.2%
Triumph Group Inc9.000% 03/15/20280.2%
Viper Energy Partners LP5.375% 11/01/20270.2%
Cloud Software Group Inc6.500% 03/31/20290.2%
Aeropuerto Internacional de Tocumen SA5.125% 08/11/20610.2%
Star Parent Inc9.000% 10/01/20300.2%
Mauser Packaging Solutions Holding Co7.875% 08/15/20260.2%
30-YR GNMA II-TBA PROD NOV5.000% 08/01/20530.2%
Mineral Resources Ltd8.500% 05/01/20300.2%
SCIH Salt Holdings Inc4.875% 05/01/20280.2%
Hawaiian Brand Intellectual Property Ltd / HawaiianMiles Loyalty Ltd5.750% 01/20/20260.2%
United Airlines 2020-1 Class A Pass Through Trust5.875% 04/15/20290.2%
Callon Petroleum Co8.000% 08/01/20280.2%
Oceaneering International Inc6.000% 02/01/20280.2%
Rayonier LP2.750% 05/17/20310.2%
Ares Capital Corp7.000% 01/15/20270.2%
Kraft Heinz Foods Co4.375% 06/01/20460.2%
OCP SA3.750% 06/23/20310.2%
Kinross Gold Corp6.250% 07/15/20330.2%
OQ SAOC5.125% 05/06/20280.2%
Electricite de France SA6.250% 05/23/20330.2%
PROJECT ALPHA INTRMDT HLDG INC10.075% 10/28/20300.2%
NCL Corp Ltd5.875% 02/15/20270.2%
Live Nation Entertainment Inc3.750% 01/15/20280.2%
EquipmentShare.com Inc9.000% 05/15/20280.2%
Encino Acquisition Partners Holdings LLC8.500% 05/01/20280.2%
Molina Healthcare Inc3.875% 11/15/20300.2%
PetSmart Inc / PetSmart Finance Corp7.750% 02/15/20290.2%
Teck Resources Ltd3.900% 07/15/20300.2%
SEB Funding LLC4.969% 01/30/20520.2%
Huntington Ingalls Industries Inc4.200% 05/01/20300.2%
RH7.939% 10/20/20280.2%
nVent Finance Sarl5.650% 05/15/20330.2%
Tenet Healthcare Corp6.125% 06/15/20300.2%
Comstock Resources Inc6.750% 03/01/20290.2%
Ovintiv Inc6.500% 02/01/20380.2%
Fortress Transportation and Infrastructure Investors LLC5.500% 05/01/20280.2%
CSMC 2021-BPNY9.163% 08/15/20260.2%
Freddie Mac STACR REMIC Trust 2022-HQA38.871% 08/25/20420.2%
Murphy Oil USA Inc3.750% 02/15/20310.2%
Affirm Asset Securitization Trust 2023-B6.820% 09/15/20280.2%
Univision Communications Inc4.500% 05/01/20290.2%
Southwestern Energy Co5.375% 03/15/20300.2%
Centene Corp4.625% 12/15/20290.2%
Select Medical Corp6.250% 08/15/20260.2%
Vital Energy Inc7.750% 07/31/20290.2%
Las Vegas Sands Corp3.500% 08/18/20260.2%
Churchill Downs Inc4.750% 01/15/20280.2%
Trimble Inc6.100% 03/15/20330.2%
Azul Secured Finance LLP11.500% 05/28/20290.2%
Virgin Media Bristol LLC8.790% 03/31/20310.2%
Ecuador Government International Bond0.000% 07/31/20300.2%
Santander Drive Auto Receivables Trust 2023-15.090% 05/15/20300.2%
Resorts World Las Vegas LLC / RWLV Capital Inc4.625% 04/16/20290.2%
Molina Healthcare Inc3.875% 05/15/20320.2%
Apache Corp4.750% 04/15/20430.2%
DaVita Inc4.625% 06/01/20300.2%
Arch Capital Group Ltd0.000% -0.2%
Bombardier Inc7.500% 02/01/20290.2%
CITIGROUP MORTGAGE LOAN TRUST 2021-INV22.500% 05/25/20510.2%
Delta Air Lines Inc / SkyMiles IP Ltd4.750% 10/20/20280.2%
Caesars Entertainment Inc4.625% 10/15/20290.2%
Avolon Holdings Funding Ltd4.250% 04/15/20260.2%
Freeport-McMoRan Inc5.400% 11/14/20340.2%
Argentine Republic Government International Bond0.000% 07/09/20300.2%
NextEra Energy Operating Partners LP4.500% 09/15/20270.2%
Chesapeake Energy Corp0.000% -0.2%
HUB International Ltd7.250% 06/15/20300.2%
CCO Holdings LLC / CCO Holdings Capital Corp5.000% 02/01/20280.2%
Imperial Brands Finance PLC6.125% 07/27/20270.2%
AthenaHealth Group Inc6.500% 02/15/20300.2%
Adobe Inc0.000% -0.2%
Freddie Mac STACR REMIC Trust 2022-HQA37.621% 08/25/20420.2%
Continental Resources Inc/OK5.750% 01/15/20310.2%
Novelis Corp4.750% 01/30/20300.2%
Synchrony Financial7.250% 02/02/20330.2%
BellRing Brands Inc7.000% 03/15/20300.2%
NCL Corp Ltd5.875% 03/15/20260.2%
Colombia Government International Bond8.000% 04/20/20330.2%
Hunt Cos Inc5.250% 04/15/20290.2%
MC Brazil Downstream Trading SARL7.250% 06/30/20310.2%
United Rentals North America Inc4.875% 01/15/20280.2%
Constellation Energy Generation LLC5.800% 03/01/20330.2%
J.P. Morgan Mortgage Trust 2021-INV83.000% 05/25/20520.2%
Bombardier Inc7.125% 06/15/20260.2%
PACCAR Inc0.000% -0.2%
RenaissanceRe Holdings Ltd5.750% 06/05/20330.2%
ONEOK Inc6.050% 09/01/20330.2%
SK Hynix Inc6.500% 01/17/20330.2%
Minejesa Capital BV4.625% 08/10/20300.2%
Montefiore Obligated Group5.246% 11/01/20480.2%
US ULTRA BOND CBT Dec230.000% 12/29/20230.2%
30-YR GNMA II-TBA PROD NOV4.500% 06/01/20530.2%
Allison Transmission Inc3.750% 01/30/20310.2%
CCO Holdings LLC / CCO Holdings Capital Corp6.375% 09/01/20290.2%
Sands China Ltd4.875% 06/18/20300.2%
EQM Midstream Partners LP6.500% 07/01/20270.2%
Lloyds Banking Group PLC6.898% 08/07/20270.1%
Suncor Energy Inc7.150% 02/01/20320.1%
Caesars Entertainment Inc7.000% 02/15/20300.1%
Bank OZK2.750% 10/01/20310.1%
Booz Allen Hamilton Holding Corp0.000% -0.1%
Cabot Corp5.000% 06/30/20320.1%
Asbury Automotive Group Inc4.625% 11/15/20290.1%
Webster Financial Corp4.100% 03/25/20290.1%
30-YR GNMA II-TBA PROD NOV6.000% 08/01/20530.1%
Universal Display Corp0.000% -0.1%
Bellis Acquisition Co PLC3.250% 02/16/20260.1%
Murphy Oil Corp6.375% 07/15/20280.1%
Life 2022-BMR Mortgage Trust6.630% 05/15/20390.1%
Danske Bank A/S6.466% 01/09/20260.1%
Permian Resources Operating LLC6.875% 04/01/20270.1%
PG&E Corp5.000% 07/01/20280.1%
SCIH Salt Holdings Inc6.625% 05/01/20290.1%
Arbor Realty Commercial Real Estate Notes 2022-FL2 Ltd7.185% 05/15/20370.1%
Blue Owl Capital Inc0.000% -0.1%
Bank of Ireland Group PLC6.253% 09/16/20260.1%
Turkiye Government International Bond9.375% 03/14/20290.1%
CITGO Petroleum Corp8.375% 01/15/20290.1%
Clarios Global LP / Clarios US Finance Co6.750% 05/15/20280.1%
Civitas Resources Inc8.750% 07/01/20310.1%
Apache Corp4.250% 01/15/20300.1%
Southwestern Energy Co8.375% 09/15/20280.1%
Madison IAQ LLC4.125% 06/30/20280.1%
Patterson-UTI Energy Inc5.150% 11/15/20290.1%
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer6.750% 10/15/20270.1%
Borr IHC Ltd / Borr Finance LLC10.000% 11/15/20280.1%
Clearway Energy Operating LLC4.750% 03/15/20280.1%
BX Commercial Mortgage Trust 2021-VOLT6.149% 09/15/20360.1%
Santander Drive Auto Receivables Trust 2023-14.980% 02/15/20280.1%
Matador Resources Co5.875% 09/15/20260.1%
30-YR GNMA II-TBA PROD NOV5.500% 07/01/20530.1%
Ford Motor Credit Co LLC2.900% 02/10/20290.1%
Williams Cos Inc/The5.650% 03/15/20330.1%
WMG Acquisition Corp3.750% 12/01/20290.1%
Chart Industries Inc7.500% 01/01/20300.1%
Patterson-UTI Energy Inc3.950% 02/01/20280.1%
Ford Credit Auto Lease Trust 2023-A5.540% 12/15/20260.1%
Talen Energy Supply LLC8.625% 06/01/20300.1%
USA Compression Partners LP / USA Compression Finance Corp6.875% 09/01/20270.1%
CERAMTEC ACQUICO GMBH7.283% 03/16/20290.1%
Smyrna Ready Mix Concrete LLC6.000% 11/01/20280.1%
SRS Distribution Inc4.625% 07/01/20280.1%
Avis Budget Car Rental LLC / Avis Budget Finance Inc5.750% 07/15/20270.1%
LKQ Corp6.250% 06/15/20330.1%
Connecticut Avenue Securities Trust 2022-R0111.321% 12/25/20410.1%
Bank Leumi Le-Israel BM7.129% 07/18/20330.1%
Jacobs Engineering Group Inc5.900% 03/01/20330.1%
Carnival Holdings Bermuda Ltd10.375% 05/01/20280.1%
Merlin Entertainments Ltd5.750% 06/15/20260.1%
15-YR UMBS-TBA PROD DEC5.000% 04/01/20380.1%
WE Soda Investments Holding PLC9.500% 10/06/20280.1%
Alaska Airlines 2020-1 Class A Pass Through Trust4.800% 02/15/20290.1%
Connect Finco SARL / Connect US Finco LLC6.750% 10/01/20260.1%
OHA Credit Funding 16 Ltd8.033% 10/20/20360.1%
News Corp3.875% 05/15/20290.1%
Smithfield Foods Inc5.200% 04/01/20290.1%
Petroleos Mexicanos5.350% 02/12/20280.1%
Windsor Holdings III LLC8.500% 06/15/20300.1%
Western Alliance Bancorp3.000% 06/15/20310.1%
Calpine Corp5.125% 03/15/20280.1%
Tenet Healthcare Corp6.750% 05/15/20310.1%
Buckeye Partners LP9.694% 01/22/20780.1%
CCO Holdings LLC / CCO Holdings Capital Corp4.500% 08/15/20300.1%
Genting New York LLC / GENNY Capital Inc3.300% 02/15/20260.1%
FMG Resources August 2006 Pty Ltd6.125% 04/15/20320.1%
Azul Secured Finance LLP11.930% 08/28/20280.1%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.1%
ABN AMRO Bank NV3.324% 03/13/20370.1%
Hecla Mining Co7.250% 02/15/20280.1%
EFS Cogen Holdings I LLC9.160% 10/01/20270.1%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.1%
Venture Global LNG Inc9.500% 02/01/20290.1%
LifePoint Health Inc11.000% 10/15/20300.1%
Voya CLO 2014-1 Ltd6.647% 04/18/20310.1%
Viterra Finance BV5.250% 04/21/20320.1%
Ferguson Finance PLC3.250% 06/02/20300.1%
Sri Lanka Government International Bond5.875% 07/25/20220.1%
Tenet Healthcare Corp4.375% 01/15/20300.1%
Rockcliff Energy II LLC5.500% 10/15/20290.1%
Cheniere Energy Partners LP3.250% 01/31/20320.1%
Aston Martin Capital Holdings Ltd10.500% 11/30/20250.1%
Precision Drilling Corp6.875% 01/15/20290.1%
Lumen Technologies Inc4.000% 02/15/20270.1%
Pattern Energy Operations LP / Pattern Energy Operations Inc4.500% 08/15/20280.1%
Venture Global LNG Inc8.375% 06/01/20310.1%
NGPL PipeCo LLC4.875% 08/15/20270.1%
Genesis Sales Finance Master Trust1.200% 12/21/20260.1%
Sands China Ltd5.650% 08/08/20280.1%
J.P. Morgan Chase Commercial Mortgage Securities Trust 2021-BOLT12.149% 08/15/20330.1%
PulteGroup Inc6.375% 05/15/20330.1%
Gap Inc/The3.875% 10/01/20310.1%
MSCI Inc3.250% 08/15/20330.1%
Patterson-UTI Energy Inc7.150% 10/01/20330.1%
First National Master Note Trust5.130% 04/15/20290.1%
Go Daddy Operating Co LLC / GD Finance Co Inc5.250% 12/01/20270.1%
Enel Finance International NV3.500% 04/06/20280.1%
CITGO Petroleum Corp7.000% 06/15/20250.1%
OneMain Financial Issuance Trust 2020-21.750% 09/14/20350.1%
VistaJet Malta Finance PLC / Vista Management Holding Inc9.500% 06/01/20280.1%
United Airlines 2023-1 Class A Pass Through Trust5.800% 07/15/20370.1%
CF Industries Inc4.500% 12/01/20260.1%
BankUnited Inc4.875% 11/17/20250.1%
DT Midstream Inc4.300% 04/15/20320.1%
Murphy Oil USA Inc4.750% 09/15/20290.1%
Par Petroleum LLC9.773% 02/28/20300.1%
Organon & Co / Organon Foreign Debt Co-Issuer BV4.125% 04/30/20280.1%
Royal Caribbean Cruises Ltd5.500% 08/31/20260.1%
McCormick & Co Inc/MD4.950% 04/15/20330.1%
Puget Energy Inc4.100% 06/15/20300.1%
HUB International Ltd9.662% 06/20/20300.1%
GLP Capital LP / GLP Financing II Inc4.000% 01/15/20300.1%
Applied Systems Inc9.890% 09/18/20260.1%
Medallion Midland Acquisition LP9.402% 10/18/20280.1%
Santander Drive Auto Receivables Trust 2022-34.130% 08/16/20270.1%
Pegasus Bidco BV9.615% 07/12/20290.1%
Charles River Laboratories International Inc3.750% 03/15/20290.1%
CQP Holdco LP8.990% 06/05/20280.1%
Bleriot US Bidco Inc9.652% 10/31/20280.1%
Baytex Energy Corp8.500% 04/30/20300.1%
Dexko Global Inc9.402% 10/04/20280.1%
LSF12 BADGER BIDCO LLC11.324% 08/30/20300.1%
MGM China Holdings Ltd5.875% 05/15/20260.1%
MKS Instruments Inc7.819% 08/17/20290.1%
Tenet Healthcare Corp4.875% 01/01/20260.1%
Standard Industries Inc/NJ4.375% 07/15/20300.1%
Four Seasons Hotels Ltd7.924% 11/30/20290.1%
Benteler International AG10.500% 05/15/20280.1%
Entegris Escrow Corp4.750% 04/15/20290.1%
Tradeweb Markets Inc0.000% -0.1%
SPX FLOW Inc9.924% 04/05/20290.1%
Cloud Software Group Inc9.990% 03/30/20290.1%
Navient Corp5.500% 03/15/20290.1%
AG Issuer LLC6.250% 03/01/20280.1%
Southwest Gas Corp4.050% 03/15/20320.1%
IRB Holding Corp8.424% 12/15/20270.1%
Ford Motor Credit Co LLC7.350% 11/04/20270.1%
Heartland Dental LLC / Heartland Dental Finance Corp8.500% 05/01/20260.1%
Ford Credit Auto Lease Trust 2023-A5.290% 06/15/20260.1%
TerraForm Power Operating LLC5.000% 01/31/20280.1%
Freddie Mac Structured Agency Credit Risk Debt Notes7.421% 04/25/20430.1%
Hilton Domestic Operating Co Inc3.750% 05/01/20290.1%
Freeport LNG Investments LLLP9.177% 12/21/20280.1%
Kaiser Aluminum Corp4.500% 06/01/20310.1%
Mavis Tire Express Services Topco Corp9.439% 05/04/20280.1%
Venture Global Calcasieu Pass LLC3.875% 08/15/20290.1%
Ritchie Bros Holdings Inc7.750% 03/15/20310.1%
Proofpoint Inc8.689% 08/31/20280.1%
American Builders & Contractors Supply Co Inc4.000% 01/15/20280.1%
Viking Cruises Ltd5.875% 09/15/20270.1%
Aircastle Ltd6.500% 07/18/20280.1%
SM Energy Co6.750% 09/15/20260.1%
Retail Opportunity Investments Partnership LP6.750% 10/15/20280.1%
Gen Digital Inc6.750% 09/30/20270.1%
Boxer Parent Co Inc9.189% 10/02/20250.1%
J M Smucker Co/The6.200% 11/15/20330.1%
Ball Corp6.875% 03/15/20280.1%
Madison IAQ LLC8.703% 06/21/20280.1%
Pike Corp5.500% 09/01/20280.1%
ITC Holdings Corp4.950% 09/22/20270.1%
BBVA Bancomer SA/Texas8.450% 06/29/20380.1%
Seagate HDD Cayman8.250% 12/15/20290.1%
Viterra Finance BV2.000% 04/21/20260.1%
eResearchTechnology Inc9.939% 02/04/20270.1%
Nabors Industries Inc7.375% 05/15/20270.1%
Nexstar Media Inc4.750% 11/01/20280.1%
Booz Allen Hamilton Inc5.950% 08/04/20330.1%
Venture Global Calcasieu Pass LLC6.250% 01/15/20300.1%
AI Candelaria Spain SA5.750% 06/15/20330.1%
US Foods Inc4.750% 02/15/20290.1%
Seadrill Finance Ltd8.375% 08/01/20300.1%
Prime Security Services Borrower LLC / Prime Finance Inc3.375% 08/31/20270.1%
Sealed Air Corp6.875% 07/15/20330.1%
VICI Properties LP / VICI Note Co Inc4.625% 06/15/20250.1%
1011778 BC ULC / New Red Finance Inc4.375% 01/15/20280.1%
Viterra Finance BV3.200% 04/21/20310.1%
Jaguar Land Rover Automotive PLC5.875% 01/15/20280.1%
Medline Borrower LP5.250% 10/01/20290.1%
Hermes International SCA0.000% -0.1%
Nexstar Media Inc5.625% 07/15/20270.1%
Madison IAQ LLC5.875% 06/30/20290.1%
United States Steel Corp6.875% 03/01/20290.1%
Brooklyn Union Gas Co/The3.407% 03/10/20260.1%
Ashtead Capital Inc5.500% 08/11/20320.1%
Boyd Gaming Corp4.750% 12/01/20270.1%
EDP Finance BV6.300% 10/11/20270.1%
Calpine Corp4.500% 02/15/20280.1%
Baffinland Iron Mines Corp / Baffinland Iron Mines LP8.750% 07/15/20260.1%
FirstEnergy Transmission LLC2.866% 09/15/20280.1%
Trane Technologies Financing Ltd5.250% 03/03/20330.1%
Sunrun Demeter Issuer 2021-2 LLC2.270% 01/30/20570.1%
SunCoke Energy Inc4.875% 06/30/20290.1%
Constellation Energy Corp0.000% -0.1%
White Cap Buyer LLC6.875% 10/15/20280.1%
Tank Holding Corp11.174% 03/31/20280.1%
Spirit AeroSystems Inc9.375% 11/30/20290.1%
HCA Inc5.500% 06/01/20330.1%
Arthur J Gallagher & Co0.000% -0.1%
Brand Industrial Services Inc10.872% 08/01/20300.1%
BX Trust 2022-PSB7.786% 08/15/20390.1%
Anglo American Capital PLC5.625% 04/01/20300.1%
Navient Corp6.750% 06/15/20260.1%
Microsoft Corp0.000% -0.1%
Boyne USA Inc4.750% 05/15/20290.1%
BAT Capital Corp7.750% 10/19/20320.1%
Crescent Energy Finance LLC9.250% 02/15/20280.1%
Mitsubishi Corp5.000% 07/05/20280.1%
Ashland Inc3.375% 09/01/20310.1%
ROBLOX Corp3.875% 05/01/20300.1%
Alcon Finance Corp2.600% 05/27/20300.1%
Boeing Co/The5.150% 05/01/20300.1%
NCR Atleos Escrow Corp9.500% 04/01/20290.1%
LifePoint Health Inc9.875% 08/15/20300.1%
Marvell Technology Inc5.950% 09/15/20330.1%
CNX Resources Corp7.250% 03/14/20270.1%
Wynn Macau Ltd5.500% 10/01/20270.1%
ZF North America Capital Inc6.875% 04/14/20280.1%
OCI NV6.700% 03/16/20330.1%
Toll Brothers Finance Corp4.350% 02/15/20280.1%
Steel Dynamics Inc3.450% 04/15/20300.1%
Molina Healthcare Inc0.000% -0.1%
Lamb Weston Holdings Inc4.125% 01/31/20300.1%
Casey's General Stores Inc0.000% -0.1%
AI Candelaria Spain SA7.500% 12/15/20280.1%
Helmerich & Payne Inc2.900% 09/29/20310.1%
Bausch & Lomb Escrow Corp8.375% 10/01/20280.1%
Herc Holdings Inc5.500% 07/15/20270.1%
Owens-Brockway Glass Container Inc7.250% 05/15/20310.1%
PARKWAY GENERATION LLC10.395% 02/18/20290.1%
1011778 BC ULC / New Red Finance Inc4.000% 10/15/20300.1%
Gabon Government International Bond6.950% 06/16/20250.1%
Advance Auto Parts Inc3.900% 04/15/20300.1%
Birkenstock Holding Plc0.000% -0.1%
Electricite de France SA4.500% 09/21/20280.1%
Danske Bank A/S4.298% 04/01/20280.1%
Connecticut Avenue Securities Trust 2022-R087.871% 07/25/20420.1%
United Airlines Inc4.625% 04/15/20290.1%
Trivium Packaging Finance BV5.500% 08/15/20260.1%
AthenaHealth Group Inc8.577% 02/15/20290.1%
Western Midstream Operating LP6.350% 01/15/20290.1%
LCPR Senior Secured Financing DAC6.750% 10/15/20270.1%
Perrigo Finance Unlimited Co4.650% 06/15/20300.1%
NRG Energy Inc10.250% 09/15/21720.1%
Tenet Healthcare Corp4.250% 06/01/20290.1%
Diamond Foreign Asset Co / Diamond Finance LLC8.500% 10/01/20300.1%
MasTec Inc4.500% 08/15/20280.1%
Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc4.125% 08/15/20260.1%
AMC Entertainment Holdings Inc12.000% 06/15/20260.1%
Builders FirstSource Inc6.375% 06/15/20320.1%
Cboe Global Markets Inc0.000% -0.1%
Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl4.625% 06/01/20280.1%
PG&E Corp5.250% 07/01/20300.1%
Occidental Petroleum Corp8.875% 07/15/20300.1%
Warnermedia Holdings Inc4.279% 03/15/20320.1%
Ingevity Corp3.875% 11/01/20280.1%
Watsco Inc0.000% -0.1%
Central American Bottling Corp / CBC Bottling Holdco SL / Beliv Holdco SL5.250% 04/27/20290.1%
Cable One Inc4.000% 11/15/20300.1%
Textron Inc0.000% -0.1%
NESCO Holdings II Inc5.500% 04/15/20290.1%
HCA Inc3.500% 09/01/20300.1%
Olin Corp5.000% 02/01/20300.1%
TerraForm Power Operating LLC4.750% 01/15/20300.1%
Occidental Petroleum Corp6.625% 09/01/20300.1%
NMG Holding Co Inc / Neiman Marcus Group LLC7.125% 04/01/20260.1%
Diamondback Energy Inc0.000% -0.1%
Occidental Petroleum Corp7.500% 05/01/20310.1%
Progressive Corp/The0.000% -0.1%
Vermilion Energy Inc6.875% 05/01/20300.1%
Vmed O2 UK Financing I PLC4.750% 07/15/20310.1%
Bacardi Ltd4.700% 05/15/20280.1%
Jacobs Engineering Group Inc6.350% 08/18/20280.1%
Teledyne FLIR LLC2.500% 08/01/20300.1%
Clarivate Science Holdings Corp4.875% 07/01/20290.1%
Hillenbrand Inc3.750% 03/01/20310.1%
Civitas Resources Inc8.625% 11/01/20300.1%
OCP CLO 2016-12 Ltd6.665% 04/18/20330.1%
Brown & Brown Inc2.375% 03/15/20310.1%
Westinghouse Air Brake Technologies Corp3.450% 11/15/20260.1%
Permian Resources Operating LLC5.375% 01/15/20260.1%
Goodman US Finance Five LLC4.625% 05/04/20320.1%
Lloyds Banking Group PLC5.871% 03/06/20290.1%
Albemarle Corp4.650% 06/01/20270.1%
Foothill-Eastern Transportation Corridor Agency4.094% 01/15/20490.1%
Noble Finance II LLC8.000% 04/15/20300.1%
RTX Corp5.150% 02/27/20330.1%
Cleveland Electric Illuminating Co/The3.500% 04/01/20280.1%
BBCMS 2019-BWAY Mortgage Trust6.405% 11/15/20340.1%
Connecticut Avenue Securities Trust 2019-R059.535% 07/25/20390.1%
Pactiv Evergreen Group Issuer Inc/Pactiv Evergreen Group Issuer LLC4.000% 10/15/20270.1%
Iris Holding Inc10.232% 06/28/20280.1%
Bacardi Ltd2.750% 07/15/20260.1%
Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd6.500% 06/20/20270.1%
SK Invictus Intermediate II Sarl5.000% 10/30/20290.1%
NGPL PipeCo LLC3.250% 07/15/20310.1%
Constellation Energy Generation LLC5.600% 06/15/20420.1%
Arch Capital Finance LLC4.011% 12/15/20260.1%
FactSet Research Systems Inc3.450% 03/01/20320.1%
NTT Finance Corp4.372% 07/27/20270.1%
Bank of Ireland Group PLC2.029% 09/30/20270.1%
Bath & Body Works Inc5.250% 02/01/20280.1%
Intuit Inc5.500% 09/15/20530.1%
Meta Platforms Inc0.000% -0.1%
Flatiron CLO 18 Ltd6.614% 04/17/20310.1%
Kinder Morgan Inc5.200% 06/01/20330.1%
Abu Dhabi Crude Oil Pipeline LLC4.600% 11/02/20470.1%
Vulcan Materials Co4.500% 06/15/20470.1%
Hughes Satellite Systems Corp5.250% 08/01/20260.1%
Moncler SpA0.000% -0.1%
Marriott International Inc/MD3.500% 10/15/20320.1%
Glencore Funding LLC2.500% 09/01/20300.1%
Altice France SA/France5.500% 10/15/20290.1%
Mauser Packaging Solutions Holding Co9.250% 04/15/20270.1%
Exeter Automobile Receivables Trust 2022-34.860% 12/15/20260.1%
Bombardier Inc6.000% 02/15/20280.1%
GXO Logistics Inc2.650% 07/15/20310.1%
Dallas Convention Center Hotel Development Corp7.088% 01/01/20420.1%
Qorvo Inc4.375% 10/15/20290.1%
LPL Holdings Inc4.000% 03/15/20290.1%
LABL Inc6.750% 07/15/20260.1%
Cie Financiere Richemont SA0.000% -0.1%
Hess Corp0.000% -0.1%
Connecticut Avenue Securities Trust 2023-R039.221% 04/25/20430.1%
Credit Acceptance Auto Loan Trust 2023-36.390% 08/15/20330.1%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.875% 04/15/20450.1%
Tencent Holdings Ltd3.925% 01/19/20380.1%
Brand Industrial Services Inc10.375% 08/01/20300.1%
Magnetite XXXIX Ltd7.940% 10/25/20330.1%
Roper Technologies Inc1.750% 02/15/20310.1%
Transatlantic Holdings Inc8.000% 11/30/20390.1%
Alloy Finco Ltd0.500% 03/06/20250.1%
Travel + Leisure Co6.000% 04/01/20270.1%
Palantir Technologies Inc0.000% -0.1%
PTC Inc4.000% 02/15/20280.1%
Leggett & Platt Inc4.400% 03/15/20290.1%
Builders FirstSource Inc4.250% 02/01/20320.1%
Warrior Met Coal Inc7.875% 12/01/20280.1%
Phillips 66 Co4.950% 12/01/20270.1%
Bacardi Ltd / Bacardi-Martini BV5.250% 01/15/20290.1%
HPLY Trust 2019-HIT6.449% 11/15/20360.1%
New York City Industrial Development Agency11.000% 03/01/20290.1%
CF Trust 2019-BOSS8.632% 12/15/20240.1%
Hardee's Funding LLC4.959% 06/20/20480.1%
30-YR GNMA II-TBA PROD NOV6.500% 10/01/20520.1%
PartnerRe Finance B LLC3.700% 07/02/20290.1%
Life Time Inc5.750% 01/15/20260.1%
Home BancShares Inc/AR3.125% 01/30/20320.1%
TALEN ENERGY CORP0.000% -0.1%
Hess Midstream Operations LP5.125% 06/15/20280.1%
Workday Inc3.800% 04/01/20320.1%
CP Atlas Buyer Inc9.075% 11/23/20270.1%
Murphy Oil Corp5.875% 12/01/20270.1%
GLP Capital LP / GLP Financing II Inc5.750% 06/01/20280.1%
Fifth Third Bancorp6.339% 07/27/20290.1%
CHS/Community Health Systems Inc5.250% 05/15/20300.1%
AIA Group Ltd3.375% 04/07/20300.1%
Colonial Enterprises Inc3.250% 05/15/20300.1%
SPX FLOW Inc8.750% 04/01/20300.1%
GLP Capital LP / GLP Financing II Inc4.000% 01/15/20310.1%
GS Mortgage-Backed Securities Trust 2021-PJ62.500% 11/25/20510.1%
Vertiv Group Corp4.125% 11/15/20280.1%
Ashtead Capital Inc5.550% 05/30/20330.1%
Imola Merger Corp4.750% 05/15/20290.1%
Jane Street Group / JSG Finance Inc4.500% 11/15/20290.1%
AXIS Specialty Finance PLC5.150% 04/01/20450.1%
Sabal Trail Transmission LLC4.246% 05/01/20280.1%
Freddie Mac STACR REMIC Trust 2022-DNA27.721% 02/25/20420.1%
Indianapolis Power & Light Co5.650% 12/01/20320.1%
Palmer Square CLO 2023-4 Ltd8.016% 10/20/20330.1%
Bath & Body Works Inc6.625% 10/01/20300.1%
PetSmart Inc / PetSmart Finance Corp4.750% 02/15/20280.1%
Rolls-Royce PLC3.625% 10/14/20250.1%
Memphis-Shelby County Industrial Development Board7.000% 07/01/20450.1%
Norinchukin Bank/The5.430% 03/09/20280.1%
American Airlines Inc7.250% 02/15/20280.1%
ONEOK Inc4.450% 09/01/20490.1%
CarMax Auto Owner Trust 2023-14.650% 01/16/20290.1%
AMN Healthcare Inc4.625% 10/01/20270.1%
Greensaif Pipelines Bidco Sarl6.129% 02/23/20380.1%
nVent Finance Sarl2.750% 11/15/20310.1%
Griffon Corp5.750% 03/01/20280.1%
Adient Global Holdings Ltd7.000% 04/15/20280.1%
NRG Energy Inc7.000% 03/15/20330.1%
Viper Energy Partners LP7.375% 11/01/20310.1%
Hershey Co/The4.500% 05/04/20330.1%
Ritchie Bros Holdings Inc6.750% 03/15/20280.1%
ZF North America Capital Inc7.125% 04/14/20300.1%
Chobani LLC / Chobani Finance Corp Inc4.625% 11/15/20280.1%
Freeport Indonesia PT6.200% 04/14/20520.1%
Oleoducto Central SA4.000% 07/14/20270.1%
LBM Acquisition LLC6.250% 01/15/20290.1%
Rand Parent LLC8.500% 02/15/20300.1%
Constellation Energy Generation LLC6.500% 10/01/20530.1%
GS Mortgage-Backed Securities Corp Trust 2021-PJ12.500% 06/25/20510.1%
GIP Pilot Acquisition Partners LP8.388% 10/04/20300.1%
Garda World Security Corp7.750% 02/15/20280.1%
Central Japan Railway Co4.250% 11/24/20450.1%
Brink's Co/The4.625% 10/15/20270.1%
Monongahela Power Co3.550% 05/15/20270.1%
BMO 2023-C5 Mortgage Trust5.765% 06/15/20560.1%
CarMax Auto Owner Trust 2023-14.980% 01/16/20290.1%
JPMorgan Chase & Co3.540% 05/01/20280.1%
Boston Scientific Corp6.500% 11/15/20350.1%
J.P. Morgan Mortgage Trust 2022-43.000% 10/25/20520.1%
Mitsubishi UFJ Financial Group Inc8.200% 01/15/21720.1%
Venture Global LNG Inc8.125% 06/01/20280.1%
Arthur J Gallagher & Co6.750% 02/15/20540.1%
HCA Inc7.690% 06/15/20250.1%
Connecticut Avenue Securities Trust 2022-R026.521% 01/25/20420.1%
Texaco Capital Inc8.625% 11/15/20310.1%
Service Properties Trust7.500% 09/15/20250.1%
Fortinet Inc2.200% 03/15/20310.1%
Becle SAB de CV2.500% 10/14/20310.1%
Avant Loans Funding Trust 2021-REV11.210% 07/15/20300.1%
Hilton Orlando Trust 2018-ORL6.402% 12/15/20340.1%
JT International Financial Services BV6.875% 10/24/20320.1%
Allied Universal Holdco LLC / Allied Universal Finance Corp6.625% 07/15/20260.1%
GE HealthCare Technologies Inc6.377% 11/22/20520.1%
Tiffany & Co4.900% 10/01/20440.1%
Commercial Metals Co4.375% 03/15/20320.1%
GS Mortgage-Backed Securities Trust 2021-PJ62.500% 11/25/20510.1%
HEICO Corp5.350% 08/01/20330.1%
Apache Corp5.250% 02/01/20420.1%
Columbia Pipelines Operating Co LLC5.927% 08/15/20300.1%
Freddie Mac STACR Remic Trust 2020-DNA27.935% 02/25/20500.1%
NFP Corp6.875% 08/15/20280.1%
GIBSON BRANDS PRIVATE EQUITY0.000% -0.1%
Spirit AeroSystems Inc4.600% 06/15/20280.1%
Calpine Corp3.750% 03/01/20310.1%
Post Holdings Inc5.500% 12/15/20290.1%
Freddie Mac STACR REMIC Trust 2022-DNA59.821% 06/25/20420.1%
NCL Corp Ltd8.375% 02/01/20280.1%
Freddie Mac STACR REMIC Trust 2021-HQA36.171% 09/25/20410.1%
BX Trust 2021-ARIA6.348% 10/15/20360.1%
Vital Energy Inc9.750% 10/15/20300.1%
Madison Park Funding XIII Ltd6.608% 04/19/20300.1%
Chart Industries Inc8.665% 03/15/20300.1%
Performance Food Group Inc4.250% 08/01/20290.1%
RegionalCare Hospital Partners Holdings Inc / LifePoint Health Inc9.750% 12/01/20260.1%
British Airways 2019-1 Class AA Pass Through Trust3.300% 06/15/20340.1%
ACBL HLDG CORP0.000% -0.1%
Stonegate Pub Co Financing 2019 PLC8.000% 07/13/20250.1%
BX Commercial Mortgage Trust 2020-VIV42.843% 03/09/20440.1%
Beacon Roofing Supply Inc6.500% 08/01/20300.1%
Galaxy Pipeline Assets Bidco Ltd3.250% 09/30/20400.1%
Freddie Mac Stacr Remic Trust 2020-DNA17.735% 01/25/20500.1%
Jones Deslauriers Insurance Management Inc8.500% 03/15/20300.1%
Dryden 113 CLO Ltd8.116% 10/20/20350.1%
ITR Concession Co LLC5.183% 07/15/20350.1%
GS Mortgage-Backed Securities Trust 2021-PJ72.500% 01/25/20520.1%
Talen Energy Corp0.000% -0.1%
Ford Motor Credit Co LLC7.200% 06/10/20300.1%
American Airlines 2016-3 Class AA Pass Through Trust3.000% 04/15/20300.1%
Magellan Midstream Partners LP3.950% 03/01/20500.1%
Cenovus Energy Inc3.750% 02/15/20520.1%
Olin Corp5.125% 09/15/20270.0%
Connecticut Avenue Securities Trust 2023-R068.021% 07/25/20430.0%
JetBlue 2019-1 Class A Pass Through Trust2.950% 11/15/20290.0%
Octane Receivables Trust 2022-25.110% 02/22/20280.0%
Sixth Street CLO XXIII Ltd8.083% 10/23/20360.0%
Seagate HDD Cayman8.500% 07/15/20310.0%
CARLYLE US CLO 2023-4 LTD8.183% 10/25/20360.0%
Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc5.250% 08/15/20270.0%
Ballyrock CLO 2019-1 Ltd6.685% 07/15/20320.0%
Flagship Credit Auto Trust 2023-15.430% 05/15/20290.0%
Elmwood CLO VII Ltd8.103% 01/17/20340.0%
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC3.250% 09/01/20280.0%
Halcyon Loan Advisors Funding 2017-2 Ltd7.364% 01/17/20300.0%
Ballyrock CLO 20 Ltd7.994% 07/15/20340.0%
British Airways 2020-1 Class A Pass Through Trust4.250% 05/15/20340.0%
VeriSign Inc2.700% 06/15/20310.0%
Flagship Credit Auto Trust 2023-15.050% 01/18/20280.0%
JP Morgan Mortgage Trust 2021-122.500% 02/25/20520.0%
Selective Insurance Group Inc5.375% 03/01/20490.0%
NetApp Inc2.700% 06/22/20300.0%
Doncasters US LLC12.145% 12/06/20240.0%
Freddie Mac Structured Agency Credit Risk Debt Notes9.321% 07/25/20420.0%
Flagstar Mortgage Trust 2021-8INV2.500% 09/25/20510.0%
CPM Holdings Inc9.827% 09/28/20280.0%
Valley Stream Park CLO LTD8.066% 10/20/20340.0%
UC HOLDINGS INC.0.000% -0.0%
US 10yr Ultra Fut Dec230.000% 12/29/20230.0%
J.P. Morgan Mortgage Trust 2021-INV53.000% 12/25/20510.0%
UTEX INDUSTRIES0.000% -0.0%
JetBlue 2019-1 Class B Pass Through Trust8.000% 11/15/20270.0%
LABL Inc10.500% 07/15/20270.0%
JP Morgan Mortgage Trust 2020-73.000% 01/25/20510.0%
VUE INTERNATIONAL BIDCO P L C6.130% 12/31/20270.0%
CIM Trust 2021-J12.500% 03/25/20510.0%
CHS/Community Health Systems Inc6.875% 04/15/20290.0%
USI Inc/NY0.000% 09/27/20300.0%
GS Mortgage Securities Corp Trust 2021-ARDN7.499% 11/15/20360.0%
US LONG BOND(CBT) Dec230.000% 12/29/20230.0%
CIM Trust 2020-J12.500% 07/25/20500.0%
JP Morgan Mortgage Trust 2021-72.500% 11/25/20510.0%
CLAIRES HOLDINGS0.000% -0.0%
Carvana Auto Receivables Trust 2020-NP15.200% 07/15/20270.0%
NRG Energy Inc5.750% 01/15/20280.0%
GS Mortgage-Backed Securities Corp Trust 2021-PJ52.500% 10/25/20510.0%
Cushman & Wakefield US Borrower LLC9.324% 01/31/20300.0%
AppLovin Corp8.424% 10/25/20280.0%
QUARTZ ACQUIRECO LLC8.824% 06/28/20300.0%
Benchmark 2019-B12 Mortgage Trust4.246% 08/15/20520.0%
NSG Holdings LLC / NSG Holdings Inc7.750% 12/15/20250.0%
CPI Swap0.010% 03/02/20520.0%
ESC 144A HERTZ CORP0.000% 01/15/20280.0%
FX USD/EUR 12/230.000% 12/13/20230.0%
CPI Swap0.010% 05/12/20520.0%
Delta 2 Lux Sarl7.574% 01/15/20300.0%
FX USD/GBP 12/230.000% 12/08/20230.0%
USI Inc/NY8.640% 09/27/20300.0%
ACBL HLDG CORP0.000% -0.0%
CPI Swap0.010% 04/20/20520.0%
New Frontera Holdings LLC18.652% 07/28/20260.0%
CPI Swap0.010% 03/02/20520.0%
SVB Financial Group4.250% 02/15/21720.0%
GS Mortgage Securities Corp Trust 2021-ROSS MZ14.949% 06/15/20260.0%
PARKWAY GENERATION LLC10.395% 02/18/20290.0%
FX USD/CAD 11/230.000% 11/20/20230.0%
Freddie Mac STACR REMIC Trust 2022-DNA48.671% 05/25/20420.0%
New Frontera Holdings LLC7.152% 07/28/20280.0%
FX USD/CHF 11/230.000% 11/22/20230.0%
ESC GCB144A HERTZ CORP5.500% 10/15/20240.0%
FX USD/CAD 11/230.000% 11/20/20230.0%
FX USD/CAD 11/230.000% 11/20/20230.0%
FX USD/CAD 11/230.000% 11/20/20230.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
FGI Operating Co LLC0.000% 05/16/20240.0%
First Republic Bank/CA4.375% 08/01/20460.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
First Republic Bank/CA4.625% 02/13/20470.0%
GS Mortgage Securities Corp Trust 2021-RENT11.153% 11/21/20350.0%
FX USD/EUR 12/230.000% 12/13/20230.0%
FX USD/CHF 11/230.000% 11/22/20230.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
FRONTERA GENERATION0.000% -0.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
MIRABELA NICKEL LTD.1.000% 09/16/20440.0%
Helix Gen Funding LLC10.074% 12/31/20270.0%
Hellas Telecommunications Luxembourg II SCA0.000% 01/15/20150.0%
Alfa Bank AO Via Alfa Bond Issuance PLC5.500% 10/26/20310.0%
Washington Mutual Bank / Debt not acquired by JPMorgan6.875% 06/15/20110.0%
OGX Austria GmbH8.500% 06/01/20180.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
US 2YR NOTE (CBT) Dec230.000% 01/04/20240.0%
CPI Swap0.010% 10/23/20280.0%
US 5YR NOTE (CBT) Dec230.000% 01/04/2024-0.1%

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

For
YTD Dividends Paidas of 12/01/2023
$0.32887
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 11/30/2023 $0.03157 $6.90
Daily Daily 10/31/2023 $0.03189 $6.65
Daily Daily 09/30/2023 $0.03125 $6.75
Daily Daily 08/31/2023 $0.03099 $6.90
Daily Daily 07/31/2023 $0.03006 $6.98
Daily Daily 06/30/2023 $0.02948 $6.94
Daily Daily 05/31/2023 $0.02974 $6.89
Daily Daily 04/30/2023 $0.02895 $7.02
Daily Daily 03/31/2023 $0.03009 $7.02
Daily Daily 02/28/2023 $0.02779 $7.00
Daily Daily 01/31/2023 $0.02705 $7.17

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 12/31/2023

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
07/27/2022 07/28/2022 - $0.0131 $0.0131 $7.28
*

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 12/01/2023

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $7.08
$100,000 to $249,999 1.75% 1.50% $7.04
$250,000 to $499,999 1.25% 1.00% $7.01
Greater than $500,000 0.00% 1.00% $6.92

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 10/31/2023

Fund Gross Expense Ratio Fund Net Expense Ratio
0.78% 0.78%

Fund Documents

Fund Documents

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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 Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015

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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.

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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

 

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. Longer-term debt securities are usually more sensitive to interest-rate changes; the longer the maturity of a security, the greater the effect a change in interest rates is likely to have on its price. The Fund may make substantial investments in high-yield debt securities and may invest in senior loans which may be primarily below-investment-grade. High-yield securities, sometimes called junk bonds, carry increased risks of price volatility, illiquidity, and the possibility of default in timely payment of interest and expenses. The value of investments in equity securities will fluctuate in response to general economic conditions and to changes in the prospects of particular companies and/or sectors in the economy. Convertible securities are subject to the risks affecting both equity and fixed-income securities, including market, credit, liquidity, and interest rate 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 Bloomberg U.S. Aggregate Bond Index represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. Total return comprises price appreciation/depreciation and income as a percentage of the original investment. 

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

 

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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