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Core Fixed Income Fund

Daily price w/o sales charge as of 07/02/2020

$11.55

arrowUp$0.02

YTD Returns w/o sales charge as of 07/02/2020

5.73%

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 Core Fixed Income Fund?

The Fund seeks to deliver current income and the opportunity for capital appreciation by investing primarily in U.S. investment grade corporate, government, and mortgage- and asset-backed securities.

 

Yield

Dividend Yield 1 as of 07/02/2020  

w/o sales charge 2.42%

30-Day Standardized Yield 2 as of 05/31/2020  

1.78%

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

Fund Basicsas of 05/29/2020

Total Net Assets
$1.93 B
Inception Date
04/05/2017
Dividend Frequency
Monthly
Fund Expense Ratio
0.36%
Number of Holdings
449

Fund Expense Ratio :

0.36%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 5.44% 7.62% 4.83% 3.96% 3.92% -
Lipper Category Avg. Core Bond Funds - - - - - -
Bloomberg Barclays U.S. Aggregate Bond Index 6.14% 8.74% 5.32% 4.30% 3.82% -

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

Fund Expense Ratio :

0.36%

Fund Expense Ratio :

0.36%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 5.44% 7.62% 4.83% 3.96% 3.92% -
Lipper Category Avg. Core Bond Funds - - - - - -
Bloomberg Barclays U.S. Aggregate Bond Index 6.14% 8.74% 5.32% 4.30% 3.82% -

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

Fund Expense Ratio :

0.36%

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. Government Related
MBS
ABS
CMBS
Corporates
Sovereign
Other
Cash

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

Maturity Assets
Less than 1 year
1-3 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 05/29/2020 View Portfolio

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB
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 median, but if there are only two ratings, the lower rating is used. 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

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

26 Years of Industry Experience

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

Partner & Portfolio Manager

22 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

29 Years of Industry Experience

Supported By 62 Investment Professionals with 16 Years Avg. Industry Experience

Contact a Representative

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Performance

Performance

Dividend Yield 1 as of 07/02/2020  

w/o sales charge 2.42%

30-Day Standardized Yield 2 as of 05/31/2020  

  Subsidized5 Un-Subsidized6
w/o sales charge 1.78% 1.78%

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

Fund Expense Ratio :

0.36%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 5.44% 7.62% 4.83% 3.96% 3.92% -
Lipper Category Avg. Core Bond Funds - - - - - -
Bloomberg Barclays U.S. Aggregate Bond Index 6.14% 8.74% 5.32% 4.30% 3.82% -

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

Fund Expense Ratio :

0.36%

Fund Expense Ratio :

0.36%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 5.44% 7.62% 4.83% 3.96% 3.92% -
Lipper Category Avg. Core Bond Funds - - - - - -
Bloomberg Barclays U.S. Aggregate Bond Index 6.14% 8.74% 5.32% 4.30% 3.82% -

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

Fund Expense Ratio :

0.36%

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 Barclays U.S. Aggregate Bond Index
2019 8.14% 8.72%
2018 -0.16% 0.01%
2017 3.57% 3.54%
2016 3.04% 2.65%
2015 -0.22% 0.55%
2014 6.45% 5.97%
2013 -1.90% -2.02%
2012 6.06% 4.22%
2011 7.92% 7.84%
2010 7.00% 6.54%
2009 12.99% -
2008 1.58% -
2007 6.71% -
2006 - -
Year Q1 Q2 Q3 Q4 Yearly Returns
2020 1.69% 3.69% - - 5.75%
2019 2.91% 2.96% 2.11% -0.05% 8.14%
2018 -1.31% -0.27% 0.09% 1.35% -0.16%
2017 0.93% 1.38% 0.83% 0.38% 3.57%
2016 2.74% 2.36% 0.92% -2.91% 3.04%
2015 1.44% -1.58% 0.71% -0.76% -0.22%
2014 2.17% 2.25% 0.20% 1.69% 6.45%
2013 0.16% -2.65% 0.43% 0.18% -1.90%
2012 1.10% 2.23% 2.05% 0.56% 6.06%
2011 0.66% 2.27% 3.54% 1.26% 7.92%
2010 2.17% 3.31% 2.65% -1.24% 7.00%
2009 2.51% 4.07% 5.54% 0.35% 12.99%
2008 1.30% 0.03% -1.16% 1.41% 1.58%
2007 1.57% -0.72% 2.98% 2.76% 6.71%
2006 - - - 1.17% -

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

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
U.S. Government Related
MBS
ABS
CMBS
Corporates
Sovereign
Other
Cash
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 05/29/2020

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB
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 median, but if there are only two ratings, the lower rating is used. 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 3/31/2020

  • Over the quarter we decreased the portfolio’s overweight to agency mortgage-backed securities (MBS). The asset class outperformed corporate credit  and other securitized products, as it benefited from the Fed’s announcement that they would buy a minimum of $200B of agency MBS to help stimulate the economy. Given the relative outperformance, we used proceeds from the sales of agency MBS in order to allocate to sectors with more attractive relative value, in our opinion.
  • We also sold U.S. Treasury securities in the portfolio in order to shift into risk assets, as we believe the dramatic move in spreads during the quarter led to attractive valuations in certain areas of the market.
  • We reallocated proceeds from the sales of agency MBS and U.S. Treasuries, and invested in corporate credit. With the continued weakness throughout the quarter in corporate credit, we found the valuations of certain issues to be fairly attractive. Notably, we added to short-term investment grade corporate debt, which is a part of the market where we saw a severe dislocation as many investors aggressively sold short-term bonds in order to raise cash. Specifically, we added to consumer non-cyclical corporate debt, including drug and dollar stores.

Portfolio Details as of 05/29/2020

Total Net Assets
$1.93 B
Number of Issues
449
Average Coupon
2.86%
Average Life
7.89 Years
Average Maturity
-
Average Effective Duration
6.1 Years

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

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

Average Life - Measures how long it will take, on average, to receive the repayment of the principal amount on a debt security.  Average life is often used in connection with mortgage-backed securities as a measurement of the length of time, on average, before the underlying mortgages are paid, refinanced, or otherwise retired.

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
U.S. Treasury Note/Bond 2.500% 01/31/2021 11.4%
30-YR UMBS-TBA PROD JUN 4.000% 02/01/2047 10.3%
30-YR UMBS-TBA PROD JUN 3.500% 10/01/2046 6.5%
U.S. Treasury Note/Bond 0.250% 05/31/2025 6.4%
U.S. Treasury Note/Bond 0.125% 04/30/2022 4.0%
30-YR GNMA II-TBA PROD JUN 3.500% 07/01/2049 3.6%
United States Treasury Bill 0.000% 07/30/2020 3.1%
U.S. Treasury Note/Bond 3.625% 08/15/2043 2.8%
Federal National Mortgage Assoc. 4.000% 10/01/2048 2.8%
U.S. Treasury Note/Bond 0.125% 05/31/2022 2.7%
% of Total Assets 53.6%
Holding Coupon Maturity Assets
U.S. Treasury Note/Bond2.500% 01/31/202111.4%
30-YR UMBS-TBA PROD JUN4.000% 02/01/204710.3%
30-YR UMBS-TBA PROD JUN3.500% 10/01/20466.5%
U.S. Treasury Note/Bond0.250% 05/31/20256.4%
U.S. Treasury Note/Bond0.125% 04/30/20224.0%
30-YR GNMA II-TBA PROD JUN3.500% 07/01/20493.6%
United States Treasury Bill0.000% 07/30/20203.1%
U.S. Treasury Note/Bond3.625% 08/15/20432.8%
Federal National Mortgage Assoc.4.000% 10/01/20482.8%
U.S. Treasury Note/Bond0.125% 05/31/20222.7%
U.S. Treasury Note/Bond1.250% 05/15/20502.6%
30-YR UMBS-TBA PROD JUN3.000% 09/01/20452.3%
U.S. Treasury Note/Bond2.750% 11/15/20472.0%
U.S. Treasury Note0.625% 04/15/20231.7%
Federal National Mortgage Assoc.3.500% 09/01/20471.1%
JPMorgan Chase & Co.3.782% 02/01/20280.7%
Walgreen Co.3.800% 11/18/20240.7%
Federal National Mortgage Assoc.3.500% 03/01/20500.6%
Palmer Square Loan Funding 2018-1 Ltd1.819% 04/15/20260.6%
Bank of America Corp.3.593% 07/21/20280.6%
U.S. Treasury Note/Bond1.125% 05/15/20400.5%
Federal Home Loan Mortgage Corp.4.000% 11/01/20490.5%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl4.700% 02/01/20360.5%
AbbVie, Inc.4.250% 11/21/20490.5%
Citigroup, Inc.2.666% 01/29/20310.5%
Biogen Idec, Inc.2.250% 05/01/20300.5%
Broadcom Inc3.150% 11/15/20250.5%
Parallel 2015-1 Ltd1.985% 07/20/20270.4%
CVS Caremark Corp.3.875% 07/20/20250.4%
NiSource, Inc.3.490% 05/15/20270.4%
Bayer US Finance II LLC3.875% 12/15/20230.4%
PayPal Holdings, Inc.2.850% 10/01/20290.4%
Cox Communications, Inc.8.375% 03/01/20390.4%
Stryker Corp.1.950% 06/15/20300.4%
Volkswagen Group of America Finance LLC3.125% 05/12/20230.4%
Ford Credit Auto Owner Trust 2019-C1.880% 07/15/20220.4%
Wells Fargo Bank, N.A.5.850% 02/01/20370.4%
Cigna Corp3.500% 06/15/20240.4%
HCA, Inc.5.500% 06/15/20470.4%
General Motors Co.6.600% 04/01/20360.4%
Alcon Finance Corp2.600% 05/27/20300.3%
Bayer US Finance II LLC4.375% 12/15/20280.3%
Ally Financial, Inc.8.000% 11/01/20310.3%
Cargill Inc2.125% 04/23/20300.3%
DTE Electric Co2.625% 03/01/20310.3%
Morgan Stanley3.875% 01/27/20260.3%
General Electric Co.6.150% 08/07/20370.3%
Schlumberger Holdings Corp.4.300% 05/01/20290.3%
Ameren Corp.3.500% 01/15/20310.3%
VEREIT Operating Partnership L.P.4.875% 06/01/20260.3%
Teachers Insurance & Annuity Association of Americ4.900% 09/15/20440.3%
UnitedHealth Group, Inc.6.875% 02/15/20380.3%
Great Wolf Trust 2019-WOLF1.218% 12/15/20360.3%
Kansas City Southern3.500% 05/01/20500.3%
Volkswagen Auto Loan Enhanced Trust 2020-10.930% 12/20/20220.3%
AT&T, Inc.6.000% 08/15/20400.3%
Drive Auto Receivables Trust5.300% 07/15/20240.3%
BAE Systems plc3.400% 04/15/20300.3%
Santander Drive Auto Receivables Trust 2016-24.380% 09/15/20230.3%
NXP BV / NXP Funding LLC / NXP USA Inc3.150% 05/01/20270.3%
ENI SpA5.700% 10/01/20400.3%
United Technologies Corp.2.250% 07/01/20300.3%
Boston Scientific Corp.2.650% 06/01/20300.3%
Boeing Co.4.875% 05/01/20250.3%
Catholic Health Initiatives3.347% 10/01/20290.3%
D.R. Horton, Inc.2.600% 10/15/20250.3%
BMW US Capital LLC3.900% 04/09/20250.3%
AerCap Ireland Capital Ltd.3.875% 01/23/20280.3%
Goldman Sachs Group, Inc.2.557% 10/31/20220.3%
Barclays Dryrock Issuance Trust0.484% 05/15/20230.3%
Dominion Resources, Inc.3.375% 04/01/20300.3%
Bank of America Corp.4.250% 10/22/20260.3%
Federal National Mortgage Assoc.4.000% 01/01/20480.2%
Boeing Co.5.040% 05/01/20270.2%
Citigroup, Inc.3.887% 01/10/20280.2%
JP Morgan Chase Commercial Mortgage Securities Tru1.253% 07/05/20330.2%
Time Warner Cable LLC7.300% 07/01/20380.2%
CVS Caremark Corp.3.625% 04/01/20270.2%
Berkshire Hathaway Energy Co.3.800% 07/15/20480.2%
Exelon Generation Co. LLC3.250% 06/01/20250.2%
Kayne CLO 7 Ltd2.607% 04/17/20330.2%
Toronto-Dominion Bank3.625% 09/15/20310.2%
BMW Vehicle Owner Trust 2019-A2.050% 05/25/20220.2%
Saudi Government International Bond3.250% 10/26/20260.2%
Ford Credit Floorplan Master Owner Trust A2.160% 09/15/20220.2%
Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor4.080% 12/15/20470.2%
Avolon Holdings Funding Ltd5.250% 05/15/20240.2%
Tencent Holdings Ltd.3.595% 01/19/20280.2%
Ohio Edison Co.8.250% 10/15/20380.2%
Roper Industries, Inc.3.650% 09/15/20230.2%
BX Commercial Mortgage Trust 2018-BIOA0.855% 03/15/20370.2%
AmeriCredit Automobile Receivables 2016-13.590% 02/08/20220.2%
Quest Diagnostics, Inc.2.800% 06/30/20310.2%
Becton, Dickinson & Co.2.894% 06/06/20220.2%
Emera US Finance L.P.4.750% 06/15/20460.2%
Hilton Orlando Trust 2018-ORL0.954% 12/15/20340.2%
Federal Home Loan Mortgage Corp.4.000% 10/01/20490.2%
SOUND POINT CLO XVII2.735% 10/20/20300.2%
Tyco Electronics Group S.A.2.342% 06/05/20200.2%
SCF Equipment Leasing 2019-1 LLC3.920% 11/20/20260.2%
Wells Fargo & Co.3.000% 10/23/20260.2%
AT&T, Inc.4.300% 02/15/20300.2%
Shackleton 2019-XIV Clo Ltd3.035% 07/20/20300.2%
Zimmer Biomet Holdings, Inc.5.750% 11/30/20390.2%
U.S. Treasury Note/Bond2.375% 11/15/20490.2%
ME Funding LLC 2019-16.448% 07/30/20490.2%
Comcast Corp.4.950% 10/15/20580.2%
Zimmer Biomet Holdings, Inc.3.550% 04/01/20250.2%
Westlake Automobile Receivables Trust 2020-12.520% 04/15/20250.2%
BAT Capital Corp4.390% 08/15/20370.2%
Anthem, Inc.2.250% 05/15/20300.2%
Nvent Finance Sarl4.550% 04/15/20280.2%
Qtel International Finance Ltd.3.750% 06/22/20260.2%
NVR, Inc.3.000% 05/15/20300.2%
Visa, Inc.1.900% 04/15/20270.2%
Exelon Generation Co. LLC5.600% 06/15/20420.2%
Macquarie Group Ltd.4.654% 03/27/20290.2%
Benefit Street Partners CLO IV Ltd2.385% 01/20/20290.2%
Park Aerospace Holdings Ltd5.500% 02/15/20240.2%
Anglo American Capital plc4.750% 04/10/20270.2%
Apache Corp.4.750% 04/15/20430.2%
WEA Finance LLC2.875% 01/15/20270.2%
Dell International LLC / EMC Corp6.020% 06/15/20260.2%
Salem Fields CLO Ltd 2016-22.944% 10/25/20280.2%
BMW US Capital LLC3.800% 04/06/20230.2%
AbbVie, Inc.3.250% 10/01/20220.2%
Oracle Corp.6.125% 07/08/20390.2%
BAT Capital Corp3.557% 08/15/20270.2%
Glencore Finance Canada Ltd.5.550% 10/25/20420.2%
ALM VII Ltd3.069% 07/15/20290.2%
Halliburton Co.7.450% 09/15/20390.2%
Citibank Credit Card Issuance Trust2.490% 01/20/20230.2%
Capital One Multi-Asset Execution Trust2.060% 08/15/20280.2%
SCF Equipment Leasing 2019-2 LLC2.760% 08/20/20260.2%
Deephaven Residential Mortgage Trust 2019-32.964% 07/25/20590.2%
Verus Securitization Trust 2020-12.417% 01/25/20600.2%
Drive Auto Receivables Trust 2017-23.490% 09/15/20230.2%
IDEX Corp.3.000% 05/01/20300.2%
CarMax Auto Owner Trust 2017-31.970% 04/15/20220.2%
COMM Mortgage Trust4.430% 07/10/20500.2%
Anheuser-Busch InBev Worldwide, Inc.3.500% 06/01/20300.2%
Government National Mortgage Association2.900% 02/16/20490.2%
BX Trust 2019-OC113.202% 12/09/20410.2%
Santander UK plc7.950% 10/26/20290.2%
Angel Oak Mortgage Trust I LLC 2019-42.993% 07/26/20490.2%
National Oilwell Varco, Inc.3.600% 12/01/20290.2%
World Financial Network Credit Card Master Trust2.210% 07/15/20260.2%
Hyundai Auto Receivables Trust 2017-A2.530% 11/15/20230.2%
Broadcom Corp. / Broadcom Cayman Finance Ltd.3.875% 01/15/20270.2%
Honda Auto Receivables 2020-2 Owner Trust0.740% 11/15/20220.2%
Palmer Square Loan Funding 2020-1 Ltd1.177% 02/20/20280.2%
Exelon Corp.4.050% 04/15/20300.1%
Ford Credit Floorplan Master Owner Trust A2.390% 08/15/20220.1%
BX Trust 2018-GW0.984% 05/15/20350.1%
AT&T, Inc.6.250% 03/29/20410.1%
Ameriprise Financial, Inc.3.000% 04/02/20250.1%
Shell International Finance BV6.375% 12/15/20380.1%
Marble Point CLO XVII Ltd2.196% 04/20/20330.1%
Santander Drive Auto Receivables Trust 2016-15.020% 06/15/20230.1%
Synchrony Credit Card Master Note Trust2.210% 05/15/20240.1%
National Securities Clearing Corp1.500% 04/23/20250.1%
Continental Resources, Inc.5.000% 09/15/20220.1%
JP Morgan Chase Commercial Mortgage Securities Tru1.184% 06/15/20320.1%
Dell International LLC / EMC Corp.8.350% 07/15/20460.1%
Republic of Indonesia3.400% 09/18/20290.1%
General Electric Co.1.741% 03/15/20230.1%
Perimeter Master Note Business Trust4.310% 12/15/20220.1%
Mountain View CLO 2017-1 LLC2.266% 10/16/20290.1%
New Residential Mortgage Loan Trust 2019-NQM32.802% 07/25/20490.1%
Capital One Multi-Asset Execution Trust1.769% 05/15/20280.1%
Drive Auto Receivables Trust 2018-24.140% 08/15/20240.1%
JPMBB Commercial Mortgage Securities Trust4.269% 07/15/20480.1%
Octagon Investment Partners 29 Ltd2.200% 01/24/20330.1%
Octagon Investment Partners 25 Ltd1.935% 10/20/20260.1%
Advocate Health & Hospitals Corp3.387% 10/15/20490.1%
JFIN CLO 2014 Ltd2.585% 04/21/20250.1%
CSMC 2020-AFC1 Trust2.240% 02/25/20500.1%
Federal National Mortgage Assoc.3.500% 09/01/20470.1%
SLC Student Loan Trust 2008-12.341% 12/15/20320.1%
Michigan Fin Auth3.084% 12/01/20340.1%
Hardee's Funding LLC4.959% 06/20/20480.1%
Kookmin Bank1.750% 05/04/20250.1%
AerCap Ireland Capital Ltd.3.500% 01/15/20250.1%
Aqua America, Inc.3.566% 05/01/20290.1%
World Omni Auto Receivables Trust 2018-B2.870% 07/17/20230.1%
Berkshire Hathaway Finance Corp.1.850% 03/12/20300.1%
California Republic Auto Receivables Trust 2018-13.560% 03/15/20230.1%
World Financial Network Credit Card Master Trust2.660% 08/15/20240.1%
JP Morgan Chase Commercial Mortgage Securities Tru1.484% 06/15/20320.1%
Hudsons Bay Simon JV Trust4.666% 08/05/20340.1%
TAL Advantage VI LLC4.500% 04/20/20420.1%
American Credit Acceptance Receivables Trust 2019-3.050% 05/12/20230.1%
Carlisle Cos., Inc.2.750% 03/01/20300.1%
COMM 2014-UBS4 Mortgage Trust4.706% 08/10/20470.1%
UnitedHealth Group, Inc.3.500% 08/15/20390.1%
Massachusetts Sch Bldg Auth3.395% 10/15/20400.1%
PSEG Power LLC8.625% 04/15/20310.1%
Citigroup, Inc.4.450% 09/29/20270.1%
SCF Equipment Leasing 2019-2 LLC3.110% 06/21/20270.1%
Westlake Automobile Receivables Trust 2019-23.060% 02/15/20230.1%
Ares XLI Clo Ltd3.019% 01/15/20290.1%
BSPRT 2018-FL4 Issuer Ltd1.234% 09/15/20350.1%
Honda Auto Receivables 2019-1 Owner Trust2.750% 09/20/20210.1%
Entergy Louisiana LLC4.000% 03/15/20330.1%
Saudi Arabian Oil Co2.875% 04/16/20240.1%
Goldman Sachs Group, Inc.2.433% 02/23/20230.1%
American Credit Acceptance Receivables Trust 2020-1.650% 12/13/20230.1%
JPMorgan Chase & Co.4.600% 12/31/20990.1%
Deephaven Residential Mortgage Trust 2019-42.791% 10/25/20590.1%
KKR CLO 18 Ltd2.835% 07/18/20300.1%
Baxter International, Inc.3.750% 10/01/20250.1%
SURA Asset Management SA4.875% 04/17/20240.1%
Bank of America Corp.3.970% 03/05/20290.1%
TPG Real Estate Finance 2018-FL2 Issuer LTD1.314% 11/15/20370.1%
Hudsons Bay Simon JV Trust5.159% 08/05/20340.1%
Hardee's Funding LLC5.710% 06/20/20480.1%
Walgreen Co.3.200% 04/15/20300.1%
Bank of America Corp.4.000% 01/22/20250.1%
Northwell Healthcare, Inc.3.979% 11/01/20460.1%
Pennsylvania Electric Co.3.600% 06/01/20290.1%
Dominion Gas Holdings LLC4.600% 12/15/20440.1%
Orec 2018-CRE1 Ltd1.364% 06/15/20360.1%
Citigroup, Inc.1.678% 05/15/20240.1%
Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor3.138% 11/07/20290.1%
Bayer Corp6.650% 02/15/20280.1%
UBS AG Registered Shares5.125% 05/15/20240.1%
Wells Fargo Commercial Mortgage Trust 2016-C354.176% 07/15/20480.1%
DBWF 2018-GLKS Mortgage Trust1.202% 12/19/20300.1%
Drive Auto Receivables Trust 2017-15.170% 09/16/20240.1%
Centene Corp.3.375% 02/15/20300.1%
Quicken Loans LLC5.750% 05/01/20250.1%
Owens Corning3.950% 08/15/20290.1%
CSAIL 2019-C18 Commercial Mortgage Trust3.321% 12/15/20520.1%
Statoil ASA7.150% 11/15/20250.1%
Jamestown CLO IX Ltd3.785% 10/20/20280.1%
Netflix, Inc.6.375% 05/15/20290.1%
Permanent Univ Fnd - Texas A&M Univ Sys3.660% 07/01/20470.1%
AmeriCredit Automobile Receivables Trust 2017-22.970% 03/20/20230.1%
New Jersey Edl Facs Auth3.836% 09/01/20360.1%
UnitedHealth Group, Inc.2.900% 05/15/20500.1%
Longtrain Leasing III LLC 2015-14.060% 01/15/20450.1%
PFP 2019-6 Ltd1.232% 04/14/20370.1%
AstraZeneca plc4.375% 08/17/20480.1%
COMM 2015-DC1 Mortgage Trust4.311% 02/10/20480.1%
Leidos, Inc.2.950% 05/15/20230.1%
Branch Banking & Trust Co.2.250% 03/11/20300.1%
JPMorgan Chase & Co.3.540% 05/01/20280.1%
South Carolina Electric & Gas Co.6.050% 01/15/20380.1%
Cleco Corp.4.973% 05/01/20460.1%
Avid Automobile Receivables Trust 2019-12.620% 02/15/20240.1%
Northwoods Capital 20 Ltd6.151% 01/25/20300.1%
Foothill-Eastern Transp Corridor Agy, CA4.094% 01/15/20490.1%
Trillium Credit Card Trust II0.518% 09/26/20230.1%
First Investors Auto Owner Trust 2019-22.710% 12/15/20250.1%
KVK CLO 2016-1 Ltd4.369% 01/15/20290.1%
CF Trust 2019-BOSS3.434% 12/15/20210.1%
eBay, Inc.1.900% 03/11/20250.1%
Empresa Nacional del Petroleo3.750% 08/05/20260.1%
Mountain View CLO X Ltd2.131% 10/13/20270.1%
Citigroup Commercial Mortgage Trust 2016-GC362.850% 02/10/20490.1%
TCF Auto Receivables Owner Trust 2016-PT12.920% 10/17/20220.1%
Sound Point Clo XII Ltd3.735% 10/20/20280.1%
Sysco Corp.2.400% 02/15/20300.1%
Entergy Louisiana LLC2.900% 03/15/20510.1%
Goldman Sachs Group, Inc.6.750% 10/01/20370.1%
Jamestown CLO VII Ltd.3.591% 07/25/20270.1%
Capital Auto Receivables Asset Trust 2018-23.690% 12/20/20230.1%
BAT Capital Corp4.700% 04/02/20270.1%
World Omni Auto Receivables Trust 2017-A1.930% 09/15/20220.1%
Drive Auto Receivables Trust3.720% 09/16/20240.1%
Avery Point VII CLO Ltd2.969% 01/15/20280.1%
Neuberger Berman CLO XX Ltd2.019% 01/15/20280.1%
Federal Home Loan Mortgage Corp.2.209% 02/25/20320.1%
BBCMS 2019-BWAY Mortgage Trust1.140% 11/25/20340.1%
Flagship Credit Auto Trust 2018-33.590% 12/16/20240.1%
Cigna Corp2.550% 09/17/20210.1%
SCF Equipment Leasing 2019-1 LLC3.230% 10/20/20240.1%
California7.625% 03/01/20400.1%
New Jersey Edl Facs Auth3.636% 09/01/20290.1%
Northwoods Capital 20 Ltd4.701% 01/25/20300.1%
Hyundai Auto Receivables Trust 2019-B1.930% 07/15/20220.1%
Towd Point Asset Trust 2018-SL10.768% 01/25/20460.1%
Flagship Credit Auto Trust 2020-21.490% 07/15/20240.1%
Mountain View CLO X Ltd2.661% 10/13/20270.1%
Flagship Credit Auto Trust 2018-33.070% 02/15/20230.1%
Entergy Texas, Inc.4.000% 03/30/20290.1%
Credit Index Swap5.000% 06/20/20250.1%
Baidu, Inc.3.075% 04/07/20250.1%
Oglethorpe Power Corp.5.950% 11/01/20390.1%
Banco de Credito e Inversiones3.500% 10/12/20270.1%
Huntington Ingalls Industries, Inc.3.844% 05/01/20250.1%
General Electric Co.2.121% 05/05/20260.1%
CNAC HK Finbridge Co Ltd3.500% 07/19/20220.1%
Constellation Brands, Inc.2.875% 05/01/20300.1%
Tralee CLO III Ltd2.165% 10/20/20270.1%
CSMC Series 2019-UVIL3.160% 12/15/20410.1%
ReadyCap Commercial Mortgage Trust 2019-62.833% 10/25/20520.1%
GS Mortgage Securities Corp Trust 2018-RIVR1.134% 07/15/20350.1%
JD.com, Inc.3.375% 01/14/20300.1%
Carmax Auto Owner Trust 2019-32.210% 12/15/20220.1%
Westlake Automobile Receivables Trust 2019-23.200% 11/15/20240.1%
Deephaven Residential Mortgage Trust 2020-12.339% 01/25/20600.1%
Starwood Mortgage Residential Trust 2020-12.275% 02/25/20500.1%
Neuberger Berman Group LLC4.500% 03/15/20270.1%
PayPal Holdings, Inc.3.250% 06/01/20500.1%
Longfor Properties Co. Ltd.4.500% 01/16/20280.1%
Wells Fargo Commercial Mortgage Trust4.103% 05/15/20480.1%
Oklahoma Gas and Electric3.300% 03/15/20300.1%
Republic of Peru2.392% 01/23/20260.1%
DRB Prime Student Loan Trust3.200% 01/25/20400.1%
Mercedes-Benz Auto Lease Trust 2019-A3.100% 11/15/20210.1%
Genesis Sales Finance Master Trust Series 2019-A4.680% 08/20/20230.1%
Wells Fargo Commercial Mortgage Trust 2017-C413.785% 11/15/20500.1%
Broadcom Corp. / Broadcom Cayman Finance Ltd.3.625% 01/15/20240.1%
Capital Auto Receivables Asset Trust 2018-12.790% 01/20/20220.1%
Cedar Funding VI CLO Ltd2.735% 10/20/20280.1%
Hyundai Floorplan Master Owner Trust2.680% 04/15/20240.1%
Morgan Stanley3.625% 01/20/20270.1%
Snap-on, Inc.3.100% 05/01/20500.1%
Statoil ASA1.750% 01/22/20260.1%
Navient Private Education Refi Loan Trust 2018-D4.000% 12/15/20590.1%
Planet Fitness Master Issuer LLC3.858% 12/05/20490.1%
SCF Equipment Leasing 2018-1 LLC3.630% 10/20/20240.1%
Ally Master Owner Trust0.504% 07/15/20220.1%
Micron Technology, Inc.2.497% 04/24/20230.1%
Bank of America Corp.4.450% 03/03/20260.1%
PFS Financing Corp.3.080% 02/15/20230.1%
Sound Point Clo XV Ltd3.543% 01/23/20290.1%
Healthcare Realty Trust, Inc.2.400% 03/15/20300.1%
Shackleton 2016-IX CLO Ltd3.035% 10/20/20280.1%
Atrium Hotel Portfolio Trust 2018-ATRM1.134% 06/15/20350.1%
CSAIL 2016-C7 Commercial Mortgage Trust4.387% 11/15/20490.1%
Duke Energy Corp.2.750% 04/01/20500.1%
Avery Point VII CLO Ltd3.669% 01/15/20280.1%
Freeport-McMoRan, Inc.4.125% 03/01/20280.1%
CNAC HK Finbridge Co Ltd3.875% 06/19/20290.1%
Ford Credit Auto Owner Trust 2020-A1.030% 10/15/20220.1%
GCAT 2019-NQM2 Trust2.247% 01/25/20600.1%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr2.020% 11/15/20350.0%
Foursight Capital Automobile Receivables Trust 2013.530% 04/17/20230.0%
Sysco Corp.6.600% 04/01/20400.0%
Qatar Government International Bond5.103% 04/23/20480.0%
Diamondback Energy, Inc.4.750% 05/31/20250.0%
CPS Auto Receivables Trust 2018-B4.260% 03/15/20240.0%
Drive Auto Receivables Trust4.160% 05/15/20240.0%
NRG Energy, Inc.5.250% 06/15/20290.0%
Palmer Square Loan Funding 2018-1 Ltd2.269% 04/15/20260.0%
Univ of California Bd of Regents3.006% 05/15/20500.0%
Massachusetts Educational Financing Authority1.941% 04/25/20380.0%
Northern Natural Gas4.300% 01/15/20490.0%
Abu Dhabi Crude Oil Pipeline LLC4.600% 11/02/20470.0%
California7.300% 10/01/20390.0%
Chesapeake Funding II LLC1.910% 08/15/20290.0%
Santander Retail Auto Lease Trust 2019-B2.290% 04/20/20220.0%
Wells Fargo Commercial Mortgage Trust 2016-NXS54.970% 01/15/20590.0%
Adventist Health System/West2.952% 03/01/20290.0%
Angel Oak Mortgage Trust 2020-12.466% 12/25/20590.0%
MPT Operating Partnership L.P.5.000% 10/15/20270.0%
South Carolina Electric & Gas Co.6.625% 02/01/20320.0%
California Hlth Facs Fing Auth3.034% 06/01/20340.0%
JB y Co SA de CV3.750% 05/13/20250.0%
ALM VII Ltd4.769% 07/15/20290.0%
COMM Mortgage Trust4.430% 07/10/20500.0%
Foursight Capital Automobile Receivables Trust 2013.240% 09/15/20220.0%
Pulte Group, Inc.6.375% 05/15/20330.0%
World Financial Network Credit Card Master Trust2.030% 04/15/20250.0%
PHEAA Student Loan Trust I1.261% 04/25/20380.0%
New Residential Mortgage Loan Trust 2020-NQM12.464% 01/26/20600.0%
Pepperdine University3.301% 12/01/20590.0%
Avery Point CLO Ltd.2.591% 04/25/20260.0%
BMW Vehicle Lease Trust 2019-12.790% 03/22/20210.0%
Anglo American Capital plc3.625% 09/11/20240.0%
Minejesa Capital BV4.625% 08/10/20300.0%
COMM 2016-COR1 Mortgage Trust3.494% 10/10/20490.0%
Palmer Square Loan Funding 2018-1 Ltd2.619% 04/15/20260.0%
Adani Ports & Special Economic Zone Ltd4.000% 07/30/20270.0%
JPMorgan Chase & Co.4.000% 12/31/20990.0%
Americredit Automobile Receivables Trust 2019-10.442% 06/20/20220.0%
Universal Health Services, Inc.5.000% 06/01/20260.0%
Neuberger Berman Group LLC4.875% 04/15/20450.0%
Empresas Publicas de Medellin ESP4.250% 07/18/20290.0%
Avid Automobile Receivables Trust 2019-12.820% 07/15/20260.0%
Crown Castle International Corp.3.800% 02/15/20280.0%
Citigroup Commercial Mortgage Trust1.174% 05/10/20470.0%
BBCMS 2019-BWAY Mortgage Trust1.494% 11/25/20340.0%
COMM Mortgage Trust4.430% 07/10/20500.0%
GS Mortgage Securities Trust4.426% 07/10/20480.0%
Americredit Automobile Receivables Trust 2019-12.930% 06/20/20220.0%
Volkswagen Group of America Finance LLC3.350% 05/13/20250.0%
Carrier Global Corp3.577% 04/05/20500.0%
California Republic Auto Receivables Trust 2017-12.910% 12/15/20220.0%
Prosus NV3.680% 01/21/20300.0%
Mexichem SAB de CV4.875% 09/19/20220.0%
Westgate Resorts 2018-1 LLC3.380% 12/20/20310.0%
Diamond Resorts Owner Trust4.110% 10/22/20290.0%
Residential Mortgage Loan Trust 2020-12.376% 02/25/20240.0%
Government National Mortgage Association2.900% 02/16/20530.0%
Drive Auto Receivables Trust 2019-32.630% 09/15/20220.0%
Mercedes-Benz Auto Lease Trust 2018-B3.210% 09/15/20210.0%
Pertamina Persero PT4.150% 02/25/20600.0%
Carmax Auto Owner Trust 2020-12.340% 11/17/20250.0%
Flagship Credit Auto Trust 2017-32.590% 07/15/20220.0%
Galaxy XXI CLO Ltd2.155% 04/20/20310.0%
Palmer Square Loan Funding 2018-5 Ltd2.535% 01/20/20270.0%
Drive Auto Receivables Trust4.180% 03/15/20240.0%
First Investors Auto Owner Trust2.410% 12/15/20220.0%
Foursight Capital Automobile Receivables Trust 2013.680% 08/15/20230.0%
CPS Auto Receivables Trust6.580% 03/15/20220.0%
AT&T, Inc.2.891% 06/30/20200.0%
CPS Auto Trust3.430% 07/15/20220.0%
Drive Auto Receivables Trust 2018-23.630% 08/15/20240.0%
WFRBS Commercial Mortgage Trust0.567% 10/15/20570.0%
Halcyon Loan Advisors Funding Ltd.3.141% 07/25/20270.0%
SCF Equipment Leasing 2017-2 LLC3.410% 12/20/20230.0%
Affiliated Managers Group, Inc.3.500% 08/01/20250.0%
WFRBS Commercial Mortgage Trust0.307% 10/15/20570.0%
Citigroup Commercial Mortgage Trust 2016-P32.804% 04/15/20490.0%
Wheels SPV 2 LLC3.060% 04/20/20270.0%
Chesapeake Funding II LLC1.990% 05/15/20290.0%
Enterprise Fleet Financing LLC2.870% 10/20/20230.0%
Analog Devices, Inc.2.950% 04/01/20250.0%
Ares XXIX CLO Ltd.2.325% 04/17/20260.0%
University of Chicago/The2.761% 04/01/20450.0%
KKR CLO 18 Ltd4.735% 07/18/20300.0%
First Investors Auto Owner Trust 2018-23.230% 12/15/20220.0%
Santander Drive Auto Receivables Trust 2017-32.760% 12/15/20220.0%
Sequoia Mortgage Trust 2012-42.069% 09/25/20420.0%
CNAC HK Finbridge Co Ltd4.125% 07/19/20270.0%
SFAVE Commercial Mortgage Securities Trust4.144% 01/05/20430.0%
Flagship Credit Auto Trust 2018-12.590% 06/15/20220.0%
WFRBS Commercial Mortgage Trust0.958% 05/15/20470.0%
Csail Commercial Mortgage Trust4.191% 06/15/20570.0%
Ascentium Equipment Receivables 2017-1 Trust2.290% 06/10/20210.0%
CarMax Auto Owner Trust2.880% 10/15/20210.0%
General Motors Co.6.750% 04/01/20460.0%
Americredit Automobile Receivables Trust 2018-33.110% 01/18/20220.0%
Americredit Automobile Receivables Trust 2018-30.432% 01/18/20220.0%
COMM Mortgage Trust1.006% 08/10/20470.0%
CPS Auto Receivables Trust 2018-A2.770% 04/18/20220.0%
Diamond Resorts Owner Trust3.080% 11/20/20280.0%
Bancorp Commercial Mortgage 2018-CRE3 Trust/The1.034% 01/15/20330.0%
Flagship Credit Auto Trust 2017-42.070% 04/15/20220.0%
JPMBB Commercial Mortgage Securities Trust0.748% 04/15/20470.0%
WFRBS Commercial Mortgage Trust0.572% 05/15/20470.0%
JPMBB Commercial Mortgage Securities Trust0.284% 04/15/20470.0%
Government National Mortgage Association2.200% 04/16/20470.0%
US 10YR ULTRA FUT SEP200.000% 09/30/20200.0%
US LONG BOND(CBT) SEP200.000% 09/30/20200.0%
US ULTRA BOND CBT SEP200.000% 09/30/20200.0%

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

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 07/02/2020
$0.139
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 06/30/2020 $0.02327 $11.52
Daily Daily 05/31/2020 $0.02342 $11.41
Daily Daily 04/30/2020 $0.02495 $11.35
Daily Daily 03/31/2020 $0.02479 $11.18
Daily Daily 02/29/2020 $0.02166 $11.45
Daily Daily 01/31/2020 $0.02139 $11.28

Upcoming Dividend Payment Dates

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

Fees & Expenses

Fees & Expenses

Expense Ratioas of 05/31/2020

0.36%

Fund Documents

Fund Documents

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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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Prospectus (XBRL)
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
Publish Date:11/03/2015

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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.      

                    

1

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

 

2

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

 

3

The Fund’s Dividend Yield, 12-Month Dividend Yield and 7 Day Yield are shown with and without sales charges and with maximum sales charges. The Fund’s Subsidized Dividend yield takes into account any fee waiver or expense limitation arrangements, if any. Without such fee waivers or expense limitation arrangements, the Fund’s dividend yield would have been lower. Information regarding any fee waivers or expense limitation arrangements applicable to the Fund is provided with the Fund’s expense ratio information.

 

4

The Fund’s Unsubsidized Dividend yield is shown without sales charges and with maximum sales charges. The Fund’s unsubsidized dividend yield reflects what the yield would have been without the effect of fee waivers or expense limitation arrangements.

 

 

IMPORTANT INFORMATION

 

A Note about Risk: The Fund is subject to the general risks associated with investing in fixed income securities, including market, credit, liquidity, and interest rate risk. The value of an investment in the Fund will change as interest rates fluctuate in response to market movements. When interest rates rise, the prices of debt securities are likely to decline, and when interest rates fall, the prices of debt securities tend to rise. The Fund may invest in Treasury Inflation Protected Securities and other inflation-indexed securities, which are subject to greater inflation rate and interest rate volatility. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can affect Fund performance.

Class F3 - The inception date for Class F3 shares is April 4, 2017. The performance quotations for Class F3 are based on the following methods of calculation: (a) for periods prior to June 30, 2015,  a figure is used based on the historical performance of the Fund’s Class I Shares, since inception, restated to reflect all charges and fees applicable to Class F3 shares; (b) for periods prior to April 4, 2017 but after June 30, 2015, performance is based on the historical performance of the Fund’s Class R6 shares, which have an equivalent expense ratio to the Fund’s F3 shares; and (c) for periods after April 4, 2017, actual Class F3 performance is used, which reflects all charges and fees applicable to Class F3 shares.

Class F3 shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

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

 

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

 

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

 

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

 

The Barclays 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.

 

 

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.

 

 

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

 

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

 

 

Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

 

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.  

 

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

Select funds to run a Morningstar Hypothetical Report.

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