California Tax Free Fund
Daily price w/o sales charge as of 04/17/2025
$9.73
$0.00
YTD Returns w/o sales charge as of 04/17/2025
-2.87%
Please click here for performance current to the most recent quarter-end and month-end.
Summary
Summary
Yield
Average Yield to Worst as of 03/31/2025 |
4.46% |
30-Day Standardized Yield 1 as of 03/31/2025 |
3.52% |
In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.
Yield to worst (YTW) refers to the lesser of a bond’s (a) yield-to-maturity or (b) the lowest yield-to-call calculated on each scheduled call date.
Fund Basicsas of 03/31/2025
- Total Net Assets
- $660.27 M
- Inception Date
- 09/03/1985
- Dividend Frequency
- Monthly
- Fund Gross Expense Ratio
- 0.77%
- Fund Net Expense Ratio
- 0.77%
- Number of Holdings
- 286
- Minimum Initial Investment
- $1,000+
Fund Expense Ratio :
Gross 0.77%
Net 0.77%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 09/03/1985 |
|---|
| w/o sales charge | -1.04% | 0.84% | 0.65% | 0.71% | 1.93% | 5.03% |
| Lipper Category Avg. California Municipal Debt Funds | -0.61% | 1.53% | 1.12% | 1.08% | 1.95% | - |
| Bloomberg Municipal Bond Index | -0.22% | 1.22% | 1.53% | 1.07% | 2.13% | - |
| w/ sales charge | -3.24% | -1.39% | -0.13% | 0.26% | 1.70% | 4.97% |
Fund Expense Ratio :
Gross 0.77%
Net 0.77%
Fund Expense Ratio :
Gross 0.77%
Net 0.77%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 09/03/1985 |
|---|
| w/o sales charge | -1.04% | 0.84% | 0.65% | 0.71% | 1.93% | 5.03% |
| Lipper Category Avg. California Municipal Debt Funds | -0.61% | 1.53% | 1.12% | 1.08% | 1.95% | - |
| Bloomberg Municipal Bond Index | -0.22% | 1.22% | 1.53% | 1.07% | 2.13% | - |
| w/ sales charge | -3.24% | -1.39% | -0.13% | 0.26% | 1.70% | 4.97% |
Fund Expense Ratio :
Gross 0.77%
Net 0.77%
Returns with sales charges reflect a maximum sales charge of 2.25%.
Past performance is not a reliable indicator or guarantee of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost.
| Sector | Assets |
|---|---|
| Transportation | |
| IDR/PCR | |
| Healthcare/Hospital | |
| Education | |
| GO Local | |
| Special Tax | |
| Lease | |
| Power | |
| Housing | |
| Water & Sewer | |
| GO State | |
| VRDN | |
| Other | |
| Pre-Refunded |
The Fund's portfolio is actively managed and is subject to change.
| Maturity | Assets |
|---|---|
| <1 Year | |
| 1-3 Years | |
| 3-5 Years | |
| 5-7 Years | |
| 7-9 Years | |
| 9-12 Years | |
| 12-15 Years | |
| 15-18 Years | |
| 18-25 Years | |
| 25-30 Years | |
| 30+ Years |
The Fund's portfolio is actively managed and is subject to change.
Credit Quality Distribution as of 03/31/2025
| Rating | Assets |
|---|---|
| AAA | |
| AA | |
| A | |
| BBB | |
| < BBB | |
| Not Rated |
Investment Team
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Performance
Performance
Average Yield to Worst as of 03/31/2025
30-Day Standardized Yield 1 as of 03/31/2025
| Subsidized2 | Un-Subsidized3 | |
|---|---|---|
| w/o sales charge | 3.52% | 3.52% |
In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.
Fund Expense Ratio :
Gross 0.77%
Net 0.77%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 09/03/1985 |
|---|
| w/o sales charge | -1.04% | 0.84% | 0.65% | 0.71% | 1.93% | 5.03% |
| Lipper Category Avg. California Municipal Debt Funds | -0.61% | 1.53% | 1.12% | 1.08% | 1.95% | - |
| Bloomberg Municipal Bond Index | -0.22% | 1.22% | 1.53% | 1.07% | 2.13% | - |
| w/ sales charge | -3.24% | -1.39% | -0.13% | 0.26% | 1.70% | 4.97% |
Fund Expense Ratio :
Gross 0.77%
Net 0.77%
Fund Expense Ratio :
Gross 0.77%
Net 0.77%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 09/03/1985 |
|---|
| w/o sales charge | -1.04% | 0.84% | 0.65% | 0.71% | 1.93% | 5.03% |
| Lipper Category Avg. California Municipal Debt Funds | -0.61% | 1.53% | 1.12% | 1.08% | 1.95% | - |
| Bloomberg Municipal Bond Index | -0.22% | 1.22% | 1.53% | 1.07% | 2.13% | - |
| w/ sales charge | -3.24% | -1.39% | -0.13% | 0.26% | 1.70% | 4.97% |
Fund Expense Ratio :
Gross 0.77%
Net 0.77%
Returns with sales charges reflect a maximum sales charge of 2.25%.
Past performance is not a reliable indicator or guarantee of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost.
| Year | Fund Returns | Bloomberg Municipal Bond Index |
|---|
| 2024 | 2.12% | 1.05% |
| 2023 | 6.94% | 6.40% |
| 2022 | -13.33% | -8.53% |
| 2021 | 2.65% | 1.52% |
| 2020 | 4.64% | 5.21% |
| 2019 | 9.30% | 7.54% |
| 2018 | 0.50% | 1.28% |
| 2017 | 6.71% | 5.45% |
| 2016 | 0.15% | 0.25% |
| 2015 | 3.64% | 3.30% |
| 2014 | 13.20% | - |
| 2013 | -3.92% | - |
| 2012 | 11.88% | - |
| 2011 | 11.18% | - |
| 2010 | 0.99% | - |
| 2009 | 20.07% | - |
| 2008 | -13.46% | - |
| 2007 | -0.56% | - |
| 2006 | 4.19% | - |
| 2005 | 3.95% | - |
| Year | Q1 | Q2 | Q3 | Q4 |
|---|
| 2025 | -1.04% | - | - | - |
| 2024 | 0.22% | 0.54% | 2.61% | -1.22% |
| 2023 | 2.88% | 0.57% | -4.40% | 8.12% |
| 2022 | -8.13% | -6.13% | -3.97% | 4.65% |
| 2021 | -0.29% | 2.38% | -0.75% | 1.31% |
| 2020 | -2.90% | 3.30% | 1.48% | 2.80% |
| 2019 | 3.32% | 2.84% | 2.29% | 0.56% |
| 2018 | -0.97% | 1.14% | -0.25% | 0.60% |
| 2017 | 1.86% | 2.38% | 1.01% | 1.31% |
| 2016 | 1.95% | 3.63% | -0.03% | -5.18% |
| 2015 | 1.11% | -1.26% | 1.70% | 2.07% |
| 2014 | 4.66% | 3.61% | 2.38% | 1.97% |
| 2013 | 0.48% | -3.91% | -0.73% | 0.25% |
| 2012 | 4.49% | 1.78% | 3.42% | 1.72% |
| 2011 | -0.74% | 5.27% | 3.63% | 2.68% |
| 2010 | 1.59% | 1.40% | 4.53% | -6.21% |
| 2009 | 6.14% | 4.21% | 10.78% | -2.00% |
| 2008 | -2.47% | 1.36% | -5.84% | -7.03% |
| 2007 | 0.61% | -0.94% | 0.04% | -0.26% |
| 2006 | 0.25% | -0.24% | 2.97% | 1.17% |
| 2005 | 0.32% | 3.10% | -0.03% | 0.53% |
| 2004 | 2.03% | -2.95% | 4.01% | 1.43% |
| 2003 | 0.69% | 2.98% | -1.69% | 1.70% |
| 2002 | 0.03% | 3.01% | 5.49% | -0.99% |
| 2001 | 1.78% | -0.68% | 4.28% | -0.97% |
| 2000 | 4.00% | 1.41% | 3.32% | 5.39% |
| 1999 | 0.71% | -2.95% | -2.06% | -2.14% |
| 1998 | 0.83% | 1.57% | 3.42% | 0.19% |
| 1997 | -0.81% | 3.11% | 3.53% | 2.78% |
| 1996 | -1.96% | 0.57% | 2.48% | 2.36% |
| 1995 | 7.75% | 2.21% | 2.16% | 4.36% |
| 1994 | -7.30% | -0.36% | 0.35% | -3.46% |
| 1993 | 5.07% | 3.47% | 3.93% | 0.82% |
| 1992 | 0.17% | 4.58% | 2.03% | 2.01% |
| 1991 | 1.91% | 2.69% | 4.31% | 3.89% |
| 1990 | 0.47% | 2.36% | 0.01% | 4.27% |
| 1989 | 0.64% | 6.08% | -0.13% | 3.02% |
| 1988 | 2.92% | 2.21% | 2.97% | 2.75% |
| 1987 | 2.88% | -6.58% | -4.12% | 6.92% |
| 1986 | 8.50% | -0.68% | 5.52% | 4.54% |
Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.
Growth of $10,000 as of 03/31/2025
The chart begins on the Fund's inception date of 09/03/1985.
Based on a hypothetical Class A share investment of $10,000 on 09/03/1985 without sales charge and includes the reinvestment of all distributions.
NAV Historical Prices
| Date | Net Asset Value |
|---|
Portfolio
Portfolio
| Sector | Assets |
|---|---|
| Transportation | |
| IDR/PCR | |
| Healthcare/Hospital | |
| Education | |
| GO Local | |
| Special Tax | |
| Lease | |
| Power | |
| Housing | |
| Water & Sewer | |
| GO State | |
| VRDN | |
| Other | |
| Pre-Refunded |
The Fund's portfolio is actively managed and is subject to change.
| Maturity | Assets |
|---|---|
| <1 Year | |
| 1-3 Years | |
| 3-5 Years | |
| 5-7 Years | |
| 7-9 Years | |
| 9-12 Years | |
| 12-15 Years | |
| 15-18 Years | |
| 18-25 Years | |
| 25-30 Years | |
| 30+ Years |
The Fund's portfolio is actively managed and is subject to change.
| By State | Assets |
|---|---|
| CA | |
| Puerto Rico | |
| Other U.S. Territories |
The Fund's portfolio is actively managed and is subject to change.
CREDIT QUALITY DISTRIBUTION as of 03/31/2025
| Rating | Assets |
|---|---|
| AAA | |
| AA | |
| A | |
| BBB | |
| < BBB | |
| Not Rated |
Ratings provided by Standard & Poor's, Moody's, and Fitch. Where the rating agencies rate a security differently, Lord Abbett uses the higher credit rating. For a security with both a short-term and a long-term rating, Lord Abbett has categorized the security in the chart above using its short-term rating only. 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 are not rated. A-1/MIG1, A-2/MIG2 and A-3/MIG3 designations denote securities with less than a three-year maturity as well as superior (A-1/MIG1), strong (A-2/MIG2) and favorable (A-3/MIG3) credit quality. The credit quality breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Credit quality allocation reflects market value weightings.
Portfolio Details as of 03/31/2025
- Total Net Assets
- $660.27 M
- Average Effective Duration
- 8.83 Years
- Average Effective Maturity
- 20.4 Years
- Average Yield to Worst
- 4.46%
To view definitions for the above Portfolio Details, Click here.
Average Effective 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.
Yield to worst (YTW) refers to the lesser of a bond’s (a) yield-to-maturity or (b) the lowest yield-to-call calculated on each scheduled call date.
| Holdings | Coupon | Maturity | Assets |
|---|
| California Health Facilities Financing Authority | 5.000% | 11/08/2044 | 1.5% |
| Alameda Corridor Transportation Authority | 5.000% | 09/23/2052 | 1.5% |
| California State University | 5.500% | 10/24/2055 | 1.4% |
| California Community Choice Financing Authority | 5.250% | 10/01/2031 | 1.2% |
| California Housing Finance Agency | 3.250% | 08/16/2036 | 1.1% |
| San Francisco City & County Airport Comm-San Franc | 5.000% | 04/23/2052 | 1.1% |
| California Community Choice Financing Authority | 5.000% | 12/01/2032 | 1.1% |
| San Francisco City & County Airport Comm-San Franc | 5.000% | 04/29/2031 | 1.1% |
| Bay Area Toll Authority | 3.200% | 04/01/2025 | 1.0% |
| California Community Choice Financing Authority | 5.000% | 05/01/2035 | 1.0% |
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.
| Holding | Coupon | Maturity | Assets |
|---|
| California Health Facilities Financing Authority | 5.000% | 11/08/2044 | 1.5% |
| Alameda Corridor Transportation Authority | 5.000% | 09/22/2052 | 1.4% |
| California Community Choice Financing Authority | 5.000% | 09/01/2032 | 1.4% |
| California State University | 5.500% | 10/24/2055 | 1.4% |
| California Community Choice Financing Authority | 5.250% | 10/01/2031 | 1.2% |
| California Housing Finance Agency | 3.250% | 08/16/2036 | 1.1% |
| City Of Los Angeles Department Of Airports | 5.500% | 05/09/2047 | 1.1% |
| San Francisco City & County Airport Comm-San Franc | 5.000% | 04/23/2052 | 1.1% |
| California Community Choice Financing Authority | 5.000% | 12/01/2032 | 1.1% |
| San Francisco City & County Airport Comm-San Franc | 5.000% | 04/29/2031 | 1.1% |
| California Municipal Finance Authority | 5.000% | 12/25/2047 | 1.0% |
| Central Valley Energy Authority | 5.000% | 08/01/2035 | 0.9% |
| California Municipal Finance Authority | 5.250% | 05/24/2053 | 0.9% |
| Southern California Public Power Authority | 5.000% | 09/01/2030 | 0.9% |
| Tender Option Bond Trust Receipts/Certificates | 10.605% | 09/29/2034 | 0.9% |
| Irvine Facilities Financing Authority | 5.250% | 08/24/2053 | 0.9% |
| California Health Facilities Financing Authority | 5.000% | 11/23/2054 | 0.8% |
| Burbank-Glendale-Pasadena Airport Authority Brick | 5.250% | 06/23/2054 | 0.8% |
| San Diego Public Facilities Financing Authority | 5.000% | 10/07/2054 | 0.8% |
| San Diego Public Facilities Financing Authority | 5.000% | 05/07/2054 | 0.8% |
| San Diego Community College District | 5.000% | 07/24/2055 | 0.8% |
| City Of Fresno Ca Airport Revenue | 5.000% | 06/24/2048 | 0.8% |
| Golden State Tobacco Securitization Corp | 5.000% | 05/25/2051 | 0.8% |
| California Community Choice Financing Authority | 5.500% | 11/01/2028 | 0.8% |
| California Statewide Communities Development Autho | 5.000% | 08/31/2034 | 0.8% |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue | 4.750% | 06/23/2053 | 0.7% |
| San Diego Public Facilities Financing Authority | 5.250% | 10/06/2052 | 0.7% |
| California School Finance Authority | 5.000% | 07/01/2027 | 0.7% |
| California Pollution Control Financing Authority | 5.000% | 07/01/2025 | 0.7% |
| California Health Facilities Financing Authority | 5.000% | 10/24/2054 | 0.7% |
| Alvord Unified School District | 5.000% | 07/24/2052 | 0.6% |
| West Contra Costa Unified School District | 5.000% | 07/24/2054 | 0.6% |
| California Municipal Finance Authority | 5.000% | 01/01/2028 | 0.6% |
| Puerto Rico Sales Tax Financing Corp Sales Tax Rev | 4.329% | 06/26/2040 | 0.6% |
| Palomar Health | 5.000% | 10/28/2039 | 0.6% |
| City Of Los Angeles Department Of Airports | 5.000% | 05/08/2051 | 0.6% |
| California Statewide Communities Development Autho | 5.250% | 11/23/2054 | 0.6% |
| State Of California | 5.500% | 07/24/2054 | 0.6% |
| California Community Choice Financing Authority | 4.000% | 08/01/2031 | 0.6% |
| City Of Burbank Ca Electric Revenue | 5.000% | 05/24/2053 | 0.6% |
| Novato Unified School District/Ca | 3.000% | 07/27/2044 | 0.6% |
| California Health Facilities Financing Authority | 5.000% | 08/09/2047 | 0.6% |
| California Municipal Finance Authority | 4.000% | 07/13/2029 | 0.6% |
| Indio Electric Financing Authority | 5.250% | 12/30/2032 | 0.6% |
| California Pollution Control Financing Authority | 5.000% | 12/31/2028 | 0.6% |
| City Of Glendale Ca Electric Revenue | 5.000% | 01/24/2054 | 0.6% |
| San Joaquin Hills Transportation Corridor Agency | 4.000% | 01/10/2044 | 0.6% |
| County Of Sacramento Ca Airport System Revenue | 5.250% | 06/23/2054 | 0.6% |
| San Francisco City & County Airport Comm-San Franc | 5.250% | 04/24/2049 | 0.6% |
| Southern California Public Power Authority | 5.000% | 10/29/2033 | 0.6% |
| California Infrastructure & Economic Development B | 9.500% | 01/01/2035 | 0.6% |
| California School Finance Authority | 5.000% | 08/01/2025 | 0.6% |
| San Diego County Regional Airport Authority | 5.000% | 06/23/2053 | 0.6% |
| San Diego Unified School District/Ca | 3.000% | 06/25/2044 | 0.5% |
| California Enterprise Development Authority | 5.000% | 01/13/2034 | 0.5% |
| San Diego County Regional Airport Authority | 5.000% | 06/24/2051 | 0.5% |
| California Municipal Finance Authority | 5.000% | 12/26/2043 | 0.5% |
| California Educational Facilities Authority | 5.000% | 11/24/2044 | 0.5% |
| Regents Of The University Of California Medical Ce | 3.500% | 05/07/2054 | 0.5% |
| California Health Facilities Financing Authority | 4.000% | 03/29/2035 | 0.5% |
| California State University | 5.250% | 10/24/2053 | 0.5% |
| Modesto Irrigation District | 5.250% | 09/23/2048 | 0.5% |
| Southern California Public Power Authority | 5.250% | 06/23/2053 | 0.5% |
| California Municipal Finance Authority | 4.000% | 12/25/2047 | 0.5% |
| State Of California | 5.250% | 08/24/2053 | 0.5% |
| State Of California | 5.250% | 08/26/2047 | 0.5% |
| City Of Irvine Ca | 5.250% | 08/24/2053 | 0.5% |
| San Francisco City & County Public Utilities Commi | 5.000% | 09/23/2054 | 0.5% |
| San Diego Unified School District/Ca | 5.000% | 06/24/2048 | 0.5% |
| California Community Choice Financing Authority | 5.000% | 11/01/2032 | 0.5% |
| California Community Choice Financing Authority | 5.000% | 10/01/2032 | 0.5% |
| San Francisco City & County Airport Comm-San Franc | 5.500% | 04/23/2055 | 0.5% |
| Palomar Health | 5.000% | 10/27/2036 | 0.5% |
| Central Unified School District | 5.250% | 07/30/2033 | 0.5% |
| Simi Valley Unified School District | 5.250% | 07/31/2031 | 0.5% |
| California Statewide Communities Development Autho | 5.000% | 05/12/2035 | 0.5% |
| California Educational Facilities Authority | 5.000% | 10/30/2033 | 0.5% |
| City Of Los Angeles Ca Wastewater System Revenue | 5.000% | 05/27/2043 | 0.5% |
| San Joaquin Valley Clean Energy Authority | 5.500% | 07/01/2035 | 0.5% |
| California Municipal Finance Authority | 5.000% | 05/10/2043 | 0.5% |
| Rincon Valley Union School District | 5.000% | 07/30/2034 | 0.5% |
| California Municipal Finance Authority | 3.000% | 10/26/2048 | 0.5% |
| Fairfield Community Facilities District | 5.000% | 08/24/2054 | 0.5% |
| California Municipal Finance Authority | 4.125% | 07/01/2025 | 0.4% |
| Foothill-Eastern Transportation Corridor Agency | 3.500% | 01/06/2053 | 0.4% |
| California Enterprise Development Authority | 5.000% | 05/25/2049 | 0.4% |
| California Community Choice Financing Authority | 4.000% | 12/01/2027 | 0.4% |
| Bay Area Toll Authority | 5.000% | 03/24/2054 | 0.4% |
| San Francisco City & County Airport Comm-San Franc | 5.000% | 04/27/2039 | 0.4% |
| California Infrastructure & Economic Development B | 5.000% | 10/25/2049 | 0.4% |
| Pajaro Valley Health Care District | 5.000% | 08/26/2046 | 0.4% |
| San Joaquin Hills Transportation Corridor Agency | 5.250% | 01/10/2044 | 0.4% |
| California Health Facilities Financing Authority | 3.000% | 10/28/2038 | 0.4% |
| University Of California | 5.000% | 05/07/2054 | 0.4% |
| Tobacco Securitization Authority Of Southern Calif | 5.000% | 05/25/2048 | 0.4% |
| California Community Choice Financing Authority | 5.000% | 03/01/2031 | 0.4% |
| Imperial Community College District | 5.000% | 07/30/2034 | 0.4% |
| California Statewide Communities Development Autho | 5.500% | 11/22/2058 | 0.4% |
| California Infrastructure & Economic Development B | 5.250% | 06/24/2049 | 0.4% |
| Foothill-Eastern Transportation Corridor Agency | 3.950% | 01/06/2053 | 0.4% |
| California Infrastructure & Economic Development B | 4.000% | 06/24/2050 | 0.4% |
| San Joaquin Hills Transportation Corridor Agency | 5.250% | 01/07/2049 | 0.4% |
| California Health Facilities Financing Authority | 5.000% | 09/24/2044 | 0.4% |
| California Statewide Communities Development Autho | 5.000% | 11/30/2026 | 0.4% |
| California Health Facilities Financing Authority | 5.000% | 11/11/2038 | 0.4% |
| California Statewide Financing Authority | 0.000% | 05/26/2046 | 0.3% |
| Brentwood Union School District | 5.250% | 07/30/2032 | 0.3% |
| Los Angeles County Public Works Financing Authorit | 5.500% | 11/23/2053 | 0.3% |
| San Leandro Unified School District | 5.250% | 07/25/2048 | 0.3% |
| Washington Township Health Care District | 5.750% | 06/29/2033 | 0.3% |
| California Statewide Communities Development Autho | 5.500% | 11/23/2054 | 0.3% |
| San Francisco City & County Airport Comm-San Franc | 5.750% | 04/24/2048 | 0.3% |
| State Of California | 5.000% | 03/27/2042 | 0.3% |
| California Housing Finance Agency | 3.500% | 11/17/2035 | 0.3% |
| California School Finance Authority | 5.000% | 07/01/2025 | 0.3% |
| County Of Sacramento Ca Airport System Revenue | 5.000% | 06/24/2049 | 0.3% |
| Ravenswood City School District/Ca | 5.250% | 07/30/2032 | 0.3% |
| California Health Facilities Financing Authority | 3.000% | 08/08/2051 | 0.3% |
| California Statewide Communities Development Autho | 5.250% | 11/28/2034 | 0.3% |
| Montebello Unified School District | 5.500% | 07/26/2047 | 0.3% |
| Regents Of The University Of California Medical Ce | 5.000% | 05/09/2047 | 0.3% |
| City Of Los Angeles Department Of Airports | 5.250% | 05/08/2048 | 0.3% |
| Dublin Unified School District | 3.000% | 07/28/2041 | 0.3% |
| Northern California Energy Authority | 5.000% | 08/01/2030 | 0.3% |
| California State Public Works Board | 4.000% | 10/26/2046 | 0.3% |
| California State Public Works Board | 4.000% | 04/25/2046 | 0.3% |
| Southern California Public Power Authority | 5.000% | 06/23/2053 | 0.3% |
| Matching Fund Special Purpose Securitization Corp | 5.000% | 09/27/2039 | 0.3% |
| California Public Finance Authority | 5.000% | 10/30/2034 | 0.3% |
| Tejon Ranch Public Facilities Finance Authority | 5.000% | 08/24/2054 | 0.3% |
| City Of Glendale Ca Electric Revenue | 5.000% | 01/24/2054 | 0.3% |
| City Of Los Angeles Department Of Airports | 5.000% | 05/12/2032 | 0.3% |
| California Enterprise Development Authority | 5.000% | 07/31/2030 | 0.3% |
| California Municipal Finance Authority | 5.000% | 01/27/2037 | 0.3% |
| California Community Choice Financing Authority | 5.000% | 08/01/2029 | 0.3% |
| El Rancho Unified School District | 5.750% | 07/30/2033 | 0.3% |
| Silicon Valley Tobacco Securitization Authority | 0.000% | 05/27/2041 | 0.3% |
| Matching Fund Special Purpose Securitization Corp | 5.000% | 09/30/2026 | 0.3% |
| California Municipal Finance Authority | 3.000% | 05/08/2051 | 0.3% |
| California Health Facilities Financing Authority | 3.000% | 09/26/2041 | 0.3% |
| California Municipal Finance Authority | 5.900% | 06/09/2044 | 0.3% |
| California Public Finance Authority | 6.375% | 05/23/2059 | 0.3% |
| Cscda Community Improvement Authority | 2.650% | 11/25/2046 | 0.3% |
| Norman Y Mineta San Jose International Airport Sjc | 5.000% | 02/27/2031 | 0.3% |
| Sacramento Municipal Utility District | 5.000% | 04/18/2025 | 0.3% |
| Compton Community Redevelopment Agency Successor A | 5.000% | 07/28/2037 | 0.3% |
| City Of Los Angeles Department Of Airports | 4.000% | 05/08/2049 | 0.3% |
| Alameda Unified School District-Alameda County/Ca | 5.000% | 07/25/2049 | 0.3% |
| Commonwealth Of Puerto Rico | 4.000% | 06/25/2046 | 0.3% |
| Los Angeles Unified School District/Ca | 5.250% | 06/24/2049 | 0.3% |
| North Orange County Community College District/Ca | 2.750% | 07/29/2036 | 0.3% |
| California Health Facilities Financing Authority | 2.125% | 10/27/2041 | 0.3% |
| Poway Unified School District Public Financing Aut | 5.000% | 09/01/2025 | 0.3% |
| Washington Township Health Care District | 5.250% | 07/25/2048 | 0.3% |
| San Francisco City & County Airport Comm-San Franc | 5.000% | 12/31/2028 | 0.3% |
| Imperial Community College District | 5.250% | 07/30/2033 | 0.3% |
| California Municipal Finance Authority | 5.000% | 12/28/2034 | 0.3% |
| San Joaquin Hills Transportation Corridor Agency | 4.000% | 01/08/2050 | 0.3% |
| River Islands Public Financing Authority | 5.000% | 08/24/2048 | 0.3% |
| California Enterprise Development Authority | 5.000% | 07/31/2030 | 0.2% |
| Santa Clarita Community College District | 5.250% | 07/30/2032 | 0.2% |
| California Municipal Finance Authority | 3.875% | 03/01/2034 | 0.2% |
| California Health Facilities Financing Authority | 5.000% | 11/24/2044 | 0.2% |
| California Municipal Finance Authority | 5.000% | 07/01/2027 | 0.2% |
| California Infrastructure & Economic Development B | 5.000% | 10/23/2059 | 0.2% |
| Irvine Unified School District | 4.250% | 08/30/2033 | 0.2% |
| California Infrastructure & Economic Development B | 5.000% | 10/24/2054 | 0.2% |
| Guam Government Waterworks Authority | 5.000% | 06/29/2034 | 0.2% |
| County Of Los Angeles Ca Community Facilities Dist | 5.000% | 08/23/2052 | 0.2% |
| San Francisco City & County Airport Comm-San Franc | 5.000% | 04/25/2045 | 0.2% |
| California Infrastructure & Economic Development B | 8.000% | 08/15/2025 | 0.2% |
| California Municipal Finance Authority | 5.000% | 03/26/2044 | 0.2% |
| California Health Facilities Financing Authority | 5.000% | 09/29/2030 | 0.2% |
| City Of Fontana Ca | 5.000% | 08/24/2054 | 0.2% |
| Cscda Community Improvement Authority | 3.000% | 02/20/2057 | 0.2% |
| Orange County Community Facilities District | 5.500% | 08/07/2053 | 0.2% |
| Port Commission Of The City & County Of San Franci | 5.000% | 03/28/2025 | 0.2% |
| California Statewide Communities Development Autho | 5.250% | 11/23/2048 | 0.2% |
| Commonwealth Of Puerto Rico | 0.000% | 10/26/2051 | 0.2% |
| California Statewide Communities Development Autho | 5.000% | 05/08/2050 | 0.2% |
| City Of Long Beach Ca Airport System Revenue | 5.250% | 05/26/2047 | 0.2% |
| State Of California | 5.250% | 07/24/2054 | 0.2% |
| California Health Facilities Financing Authority | 3.000% | 09/25/2047 | 0.2% |
| Inland Valley Development Agency | 5.250% | 08/28/2037 | 0.2% |
| Foothill-Eastern Transportation Corridor Agency | 6.850% | 01/10/2042 | 0.2% |
| Bay Area Toll Authority | 5.000% | 03/26/2045 | 0.2% |
| California Health Facilities Financing Authority | 5.000% | 11/11/2032 | 0.2% |
| San Rafael City High School District/Ca | 5.250% | 07/31/2030 | 0.2% |
| California Statewide Communities Development Autho | 5.250% | 11/21/2056 | 0.2% |
| California Health Facilities Financing Authority | 5.000% | 11/05/2056 | 0.2% |
| Santa Monica-Malibu Unified School District | 3.000% | 07/26/2044 | 0.2% |
| California Health Facilities Financing Authority | 5.000% | 08/10/2042 | 0.2% |
| Alameda Corridor Transportation Authority | 0.000% | 09/23/2053 | 0.2% |
| California Municipal Finance Authority | 5.000% | 12/28/2035 | 0.2% |
| City Of Los Angeles Department Of Airports | 5.500% | 11/14/2031 | 0.2% |
| California Community Choice Financing Authority | 5.250% | 04/01/2030 | 0.2% |
| California Municipal Finance Authority | 4.000% | 10/28/2042 | 0.2% |
| Golden State Tobacco Securitization Corp | 0.000% | 05/21/2066 | 0.2% |
| California Educational Facilities Authority | 5.000% | 03/30/2035 | 0.2% |
| San Benito High School District | 0.000% | 07/28/2043 | 0.2% |
| Transbay Joint Powers Authority | 5.000% | 10/01/2025 | 0.2% |
| California Pollution Control Financing Authority | 5.000% | 06/29/2033 | 0.2% |
| Transbay Joint Powers Authority | 5.000% | 03/31/2030 | 0.2% |
| Morgan Hill Unified School District | 5.250% | 07/30/2032 | 0.2% |
| California Educational Facilities Authority | 4.000% | 11/28/2037 | 0.2% |
| Foothill-Eastern Transportation Corridor Agency | 0.000% | 01/11/2033 | 0.2% |
| City Of San Francisco Ca Public Utilities Commissi | 5.250% | 10/23/2052 | 0.2% |
| California Educational Facilities Authority | 5.000% | 03/30/2035 | 0.2% |
| California State Public Works Board | 5.000% | 03/25/2049 | 0.2% |
| State Of California | 5.000% | 08/24/2053 | 0.2% |
| Sacramento Municipal Utility District | 5.000% | 11/07/2054 | 0.2% |
| California Enterprise Development Authority | 5.000% | 07/31/2030 | 0.2% |
| River Islands Public Financing Authority | 5.250% | 08/23/2052 | 0.2% |
| Cscda Community Improvement Authority | 3.000% | 05/26/2047 | 0.2% |
| West Contra Costa Unified School District | 6.000% | 07/31/2027 | 0.2% |
| Burbank-Glendale-Pasadena Airport Authority Brick | 5.250% | 06/24/2049 | 0.2% |
| City Of Fontana Ca | 5.000% | 08/25/2049 | 0.2% |
| California Municipal Finance Authority | 5.250% | 10/23/2052 | 0.2% |
| California Municipal Finance Authority | 5.000% | 08/07/2054 | 0.2% |
| California Municipal Finance Authority | 5.000% | 10/01/2027 | 0.2% |
| River Islands Public Financing Authority | 5.000% | 08/24/2054 | 0.2% |
| California School Finance Authority | 5.000% | 07/31/2028 | 0.2% |
| City Of Irvine Ca | 5.000% | 09/02/2025 | 0.2% |
| Irvine Unified School District | 5.000% | 09/01/2027 | 0.2% |
| Long Beach Bond Finance Authority | 4.501% | 11/15/2026 | 0.2% |
| Tustin Community Facilities District | 5.000% | 09/01/2025 | 0.2% |
| Antelope Valley Healthcare District | 5.250% | 02/26/2036 | 0.2% |
| City Of Roseville Ca | 5.000% | 08/30/2031 | 0.2% |
| California Educational Facilities Authority | 5.000% | 04/01/2025 | 0.2% |
| California Educational Facilities Authority | 5.000% | 11/23/2048 | 0.2% |
| California School Finance Authority | 5.000% | 06/30/2029 | 0.2% |
| California Statewide Communities Development Autho | 5.000% | 10/01/2025 | 0.2% |
| California Statewide Communities Development Autho | 5.000% | 11/26/2041 | 0.2% |
| California Statewide Communities Development Autho | 5.000% | 07/01/2026 | 0.2% |
| Irvine Unified School District | 5.000% | 03/01/2025 | 0.2% |
| California Municipal Finance Authority | 3.800% | 04/01/2025 | 0.1% |
| California Public Finance Authority | 6.500% | 05/24/2054 | 0.1% |
| California Pollution Control Financing Authority | 3.850% | 01/15/2025 | 0.1% |
| California Municipal Finance Authority | 4.000% | 08/15/2027 | 0.1% |
| California Public Finance Authority | 6.750% | 06/20/2065 | 0.1% |
| California Municipal Finance Authority | 4.000% | 01/26/2051 | 0.1% |
| San Joaquin Hills Transportation Corridor Agency | 0.000% | 01/12/2036 | 0.1% |
| California Community Housing Agency | 5.000% | 07/25/2050 | 0.1% |
| Puerto Rico Commonwealth Aqueduct & Sewer Authorit | 4.000% | 06/25/2047 | 0.1% |
| Cscda Community Improvement Authority | 4.000% | 07/23/2056 | 0.1% |
| San Benito High School District | 0.000% | 07/28/2042 | 0.1% |
| Southern California Public Power Authority | 4.520% | 10/29/2038 | 0.1% |
| California Community Housing Agency | 4.000% | 01/25/2050 | 0.1% |
| M-S-R Energy Authority | 6.500% | 10/28/2039 | 0.1% |
| Newport Mesa Unified School District | 0.000% | 07/27/2041 | 0.1% |
| Transbay Joint Powers Authority | 5.000% | 03/31/2030 | 0.1% |
| California School Finance Authority | 4.000% | 07/26/2051 | 0.1% |
| Puerto Rico Commonwealth Aqueduct & Sewer Authorit | 4.000% | 06/26/2042 | 0.1% |
| California School Finance Authority | 5.000% | 08/01/2025 | 0.1% |
| California Public Finance Authority | 0.000% | 05/15/2028 | 0.1% |
| Alameda Corridor Transportation Authority | 0.000% | 09/24/2051 | 0.1% |
| Southwestern Community College District | 0.000% | 07/28/2041 | 0.1% |
| Antelope Valley Healthcare District | 5.000% | 03/01/2026 | 0.1% |
| California Statewide Financing Authority | 0.000% | 05/24/2055 | 0.1% |
| California Municipal Finance Authority | 5.000% | 06/01/2025 | 0.1% |
| Puerto Rico Sales Tax Financing Corp Sales Tax Rev | 4.329% | 06/26/2040 | 0.1% |
| California Municipal Finance Authority | 5.625% | 02/23/2045 | 0.1% |
| Inland Empire Tobacco Securitization Corp | 0.000% | 05/28/2036 | 0.1% |
| California Municipal Finance Authority | 5.000% | 10/01/2027 | 0.1% |
| Newport Mesa Unified School District | 0.000% | 07/26/2045 | 0.1% |
| Pasadena Public Financing Authority | 0.000% | 11/28/2034 | 0.1% |
| Pasadena Public Financing Authority | 0.000% | 11/28/2034 | 0.1% |
| Cscda Community Improvement Authority | 4.000% | 05/23/2057 | 0.0% |
| Puerto Rico Sales Tax Financing Corp Sales Tax Rev | 0.000% | 06/24/2051 | 0.0% |
| Transbay Joint Powers Authority | 5.000% | 03/31/2030 | 0.0% |
| Inland Empire Tobacco Securitization Corp | 0.000% | 05/23/2057 | 0.0% |
| Silicon Valley Tobacco Securitization Authority | 0.000% | 05/23/2056 | 0.0% |
| Transbay Joint Powers Authority | 5.000% | 03/31/2030 | 0.0% |
| Tobacco Securitization Authority Of Southern Calif | 0.000% | 05/26/2046 | 0.0% |
| California Pollution Control Financing Authority | 4.300% | 06/26/2040 | 0.0% |
| Commonwealth Of Puerto Rico | 5.750% | 06/29/2031 | 0.0% |
| City Of Los Angeles Department Of Airports | 5.000% | 11/14/2031 | 0.0% |
| California School Finance Authority | 5.000% | 08/01/2025 | 0.0% |
| Puerto Rico Sales Tax Financing Corp Sales Tax Rev | 4.536% | 06/23/2053 | 0.0% |
| California Statewide Communities Development Autho | 0.000% | 06/27/2039 | 0.0% |
| USM5 - Futures | 0.000% | 06/18/2025 | 0.0% |
Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.
Dividends & Cap Gains
Dividends & Cap Gains
Dividend Payments
- YTD Dividends Paidas of 04/17/2025
- $0.08584
- Dividend Frequency
- Monthly (Daily Accrual)
| Record Date | Ex-Dividend Date | Reinvest & Payable Date | Dividend | Reinvest Price |
|---|---|---|---|---|
| Daily | Daily | 03/31/2025 | $0.02856 | $9.93 |
| Daily | Daily | 02/28/2025 | $0.02903 | $10.16 |
| Daily | Daily | 01/31/2025 | $0.02825 | $10.08 |
Upcoming Dividend Payment Dates
This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.
| Record Date | Ex-Dividend Date | Reinvest & Payable Date |
|---|---|---|
| Daily | Daily | 04/30/2025 |
| Daily | Daily | 05/31/2025 |
| Daily | Daily | 06/30/2025 |
| Daily | Daily | 07/31/2025 |
| Daily | Daily | 08/31/2025 |
| Daily | Daily | 09/30/2025 |
| Daily | Daily | 10/31/2025 |
| Daily | Daily | 11/30/2025 |
| Daily | Daily | 12/31/2025 |
Capital Gains Distributions
| Record Date | Reinvest & Payable Date | Long-term | Short-term * | Total | Reinvest Price |
|---|---|---|---|---|---|
| 09/08/1993 | 09/15/1993 | - | - | $0.3500 | $11.60 |
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 04/17/2025
| Sales Charge | Dealer's Concession | Prices at Breakpoint | |
|---|---|---|---|
| Less than $100,000 | 2.25% | 2.00% | $9.95 |
| $100,000 to $249,999 | 1.75% | 1.50% | $9.90 |
| Greater than $250,000 | 0.00% | 1.00% | $9.73 |
The 12b-1 trail commission is 0.15% (accrues immediately) for all fixed-income and municipal income funds.
Class A shares purchased without a sales charge (commissionable NAV) prior to 12/1/2021 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. However, effective 12/1/2021, 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 of the 18-month anniversary of the purchase. Prior to 12/1/2021 purchases between $250,000 - $499,999 were subject to a front-end sales charge.
Expense Ratioas of 03/31/2025
| Fund Gross Expense Ratio | 0.77% |
| Fund Net Expense Ratio | 0.77% |
Expense ratio details, Click here.
The net expense ratio takes into account deductions for certain interest and related expenses from certain of the Fund's investments. Under accounting rules, the Fund recognized additional income in an amount that directly offsets these interest and related expenses. Therefore, the Fund's total returns and net asset value were not affected by such interest and related expenses.
Fund Documents
Fund Documents
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Portfolio Holdings 1Q
Publish Date:11/03/2015
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Portfolio Holdings 3Q
Publish Date:11/03/2015
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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
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SAI
Publish Date:11/03/2015
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Annual Financial Statements and Other Information *
Publish Date:11/03/2015
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Annual Tailored Shareholder Report
Publish Date:11/03/2015
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Semi-Annual Financial Statements and Other Information *
Publish Date:11/03/2015
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Fact Sheet
Publish Date:11/03/2015
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