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Core Plus Bond Fund

Daily price w/o sales charge as of 07/19/2019

$15.25

arrowDown$0.01

YTD Returns w/o sales charge as of 07/19/2019

7.63%

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 Plus Bond Fund?

The Fund seeks to deliver current income and the opportunity for capital appreciation by investing in a wide range of fixed income securities, including U.S. investment grade and high yield corporate bonds, mortgage-backed, asset-backed, and government-related securities, with select allocations to non-U.S. (including emerging market) debt securities.

Yield

Dividend Yield 1 as of 07/19/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.70% 1.99%

30-Day Standardized Yield 2 as of 06/30/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.30% 3.06%

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

Fund Basicsas of 06/28/2019

Total Net Assets
$65.01 M
Inception Date
04/05/2017
Dividend Frequency
Monthly
Fund Gross Expense Ratio
2.17%
Fund Net Expense Ratio
0.46%
Number of Holdings
507

Fund Expense Ratio :

Gross 2.17%

Net 0.46%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 7.44% 8.35% 4.04% - - 4.78%
Lipper Category Avg. Core Plus Bond Funds 6.77% 7.75% 3.07% - - -
Bloomberg Barclays U.S. Universal Index 6.54% 8.07% 2.84% - - -

Fund Expense Ratio :

Gross 2.17%

Net 0.46%

Fund Expense Ratio :

Gross 2.17%

Net 0.46%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 7.44% 8.35% 4.04% - - 4.78%
Lipper Category Avg. Core Plus Bond Funds 6.77% 7.75% 3.07% - - -
Bloomberg Barclays U.S. Universal Index 6.54% 8.07% 2.84% - - -

Fund Expense Ratio :

Gross 2.17%

Net 0.46%

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 of future results.

Type Assets
MBS
Investment Grade Corporate
U.S. Government Related
ABS
High Yield Corporate
CMBS
Sovereign
Bank Loans
Other
Cash

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

Maturity Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

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

Credit Quality Distribution as of 06/28/2019 View Portfolio

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB

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

25 Years of Industry Experience

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

Partner & Portfolio Manager

21 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

18 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

28 Years of Industry Experience

Supported By 67 Investment Professionals with 15 Years Avg. Industry Experience

Contact a Representative

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

Performance

Performance

Dividend Yield 1 as of 07/19/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.70% 1.99%

30-Day Standardized Yield 2 as of 06/30/2019  

  Subsidized5 Un-Subsidized6
w/o sales charge 3.30% 3.06%

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

Fund Expense Ratio :

Gross 2.17%

Net 0.46%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 7.44% 8.35% 4.04% - - 4.78%
Lipper Category Avg. Core Plus Bond Funds 6.77% 7.75% 3.07% - - -
Bloomberg Barclays U.S. Universal Index 6.54% 8.07% 2.84% - - -

Fund Expense Ratio :

Gross 2.17%

Net 0.46%

Fund Expense Ratio :

Gross 2.17%

Net 0.46%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 7.44% 8.35% 4.04% - - 4.78%
Lipper Category Avg. Core Plus Bond Funds 6.77% 7.75% 3.07% - - -
Bloomberg Barclays U.S. Universal Index 6.54% 8.07% 2.84% - - -

Fund Expense Ratio :

Gross 2.17%

Net 0.46%

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 of future results.

Returns with sales charges reflect a maximum sales charge of 2.25%.

Portfolio

Portfolio

Rating Assets
MBS
Investment Grade Corporate
U.S. Government Related
ABS
High Yield Corporate
CMBS
Sovereign
Bank Loans
Other
Cash

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

Rating Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

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

Credit Quality Distribution as of 06/28/2019

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB

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 Positioningas of 6/30/2019

  • We increased the portfolio’s allocation to MBS over the quarter. MBS valuations became attractive as mortgage spreads over Treasuries reached their widest levels in the post crisis era, as lower rates have resulted in a mini-refinancing boom and thus increased call risk within MBS, increasing risk premium. We continue to monitor and trade a range with respect to MBS spreads to Treasuries.
  • We reduced the portfolio’s allocation to asset-backed securities (ABS) that are backed by student loans and credit card receivables. While we continue to maintain a favorable view on ABS, we were able to take profits and reallocate the portfolio’s ABS positioning following the volatility that occurred within risk assets during May, which resulted in tighter ABS spreads relative to corporate bonds. In addition, we sold deals that did not have strong language regarding the eventual change from using LIBOR to using the Secured Overnight Financing Rate (SOFR).
  • We maintained the portfolio’s overweight position within commercial mortgage-backed securities (CMBS). CMBS continue to offer less sensitivity to the potential deterioration of U.S. trade conditions as it is an asset class with a domestic orientation. We favor SASB (single-asset / single-borrower) deals across the credit spectrum. Generally, these deals have had superior asset quality and underwriting versus conduit deals as well as stronger borrower profiles.
  • We also maintained the portfolio’s overweight position to high yield corporate bonds. We continue to believe that general economic fundamentals and strong expected earnings growth will favor the lower-rated segments of the high yield market. We expect default rates to remain subdued and believe that high yield spreads can grind tighter from current levels.

Portfolio Details as of 06/28/2019

Total Net Assets
$65.01 M
Number of Issues
507
Average Coupon
3.70%
Average Life
7.16 Years
Average Maturity
7.16 Years
Average Effective Duration
5.27 Years
Average Modified Duration
5.89 Years

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

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

Average Maturity - The length of time until the average security in a portfolio will mature or be redeemed by its issuer in proportion to its dollar value. Indicating a portfolio’s sensitivity to general market interest rate changes, a longer average maturity implies greater relative portfolio volatility.

Modified Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates. Duration is expressed as a number of years, and generally, the larger a portfolio’s duration, the greater the interest-rate risk or reward for underlying bond prices. Where applicable, securities, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs and ADRs and futures, are excluded from these calculations.

Holding Coupon Maturity Assets
United States Treasury Bill 0.000% 07/02/2019 15.7%
FNMA Conventional Long T. 30yr 4.500% 06/30/2048 12.9%
FNMA Conventional Long T. 30yr 3.500% 02/29/2048 12.8%
FNMA Conventional Long T. 30yr 4.000% 04/30/2048 6.7%
U.S. Treasury Note 0.625% 04/15/2023 3.8%
U.S. Treasury Note/Bond 1.750% 06/30/2024 2.7%
U.S. Treasury Note/Bond 3.000% 02/15/2049 1.9%
U.S. Treasury Note/Bond 2.625% 02/15/2029 1.9%
U.S. Treasury Note/Bond 2.500% 01/31/2021 1.2%
Westpac Banking Corp. 3.150% 01/16/2024 1.0%
% of Total Assets 60.6%

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
United States Treasury Bill0.000% 07/02/201917.2%
FNMA Conventional Long T. 30yr4.500% 06/30/204814.7%
FNMA Conventional Long T. 30yr3.500% 01/31/20489.1%
FNMA Conventional Long T. 30yr4.000% 05/31/20487.7%
U.S. Treasury Note0.625% 04/15/20234.3%
U.S. Treasury Note/Bond2.000% 05/31/20242.2%
Westpac Banking Corp.3.150% 01/16/20241.1%
U.S. Treasury Note/Bond3.000% 02/15/20491.1%
Bank of America Corp.3.593% 07/21/20280.9%
Hilton Grand Vacations Trust 2018-A3.540% 02/25/20320.9%
UBS AG Registered Shares5.125% 05/15/20240.8%
Citigroup, Inc.3.887% 01/10/20280.7%
Anheuser-Busch InBev Worldwide, Inc.4.750% 01/23/20290.7%
General Motors Co.6.600% 04/01/20360.6%
JPMorgan Chase & Co.3.782% 02/01/20280.6%
AerCap Ireland Capital Ltd.4.875% 01/16/20240.6%
AT&T, Inc.6.000% 08/15/20400.6%
Broadcom Inc3.625% 10/15/20240.6%
VEREIT Operating Partnership L.P.4.875% 06/01/20260.6%
Discover Financial Services4.100% 02/09/20270.5%
Sabine Pass Liquefaction LLC5.875% 06/30/20260.5%
Time Warner Cable LLC7.300% 07/01/20380.5%
Japan Bank for International Cooperation/Japan2.125% 02/10/20250.5%
Bacardi Ltd.4.700% 05/15/20280.5%
Ford Motor Co.7.450% 07/16/20310.5%
Newark BSL CLO 1 Ltd4.102% 12/21/20290.5%
Credit Acceptance Auto Loan Trust 2017-33.480% 10/15/20260.5%
Benefit Street Partners CLO X Ltd4.087% 01/15/20290.5%
Sound Point Clo XII Ltd4.392% 10/20/20280.5%
Greywolf CLO IV Ltd4.538% 04/17/20300.5%
Avery Point VII CLO Ltd4.097% 01/15/20280.5%
OHA Loan Funding 2016-1 Ltd4.392% 01/20/20280.5%
Westlake Automobile Receivables Trust 2019-13.450% 03/15/20240.5%
General Electric Co.6.150% 08/07/20370.5%
Netflix, Inc.6.375% 05/15/20290.4%
Cent CLO Ltd.3.912% 10/29/20250.4%
Morgan Stanley3.625% 01/20/20270.4%
Westlake Automobile Receivables Trust 2018-23.500% 01/16/20240.4%
Japan Bank for International Cooperation/Japan2.500% 05/23/20240.4%
Wells Fargo Capital X5.950% 12/15/20360.4%
Macquarie Group Ltd.4.654% 03/27/20290.4%
Electricite de France SA5.000% 09/21/20480.4%
Valero Energy Corp.10.500% 03/15/20390.4%
Indonesia Asahan Aluminium Persero PT5.710% 11/15/20230.4%
Danske Bank A/S5.375% 01/12/20240.4%
Ghana Government International Bond7.875% 08/07/20230.4%
Mexichem SAB de CV4.875% 09/19/20220.4%
Wabtec Corp.4.700% 09/15/20280.4%
Anglo American Capital plc4.750% 04/10/20270.4%
Egypt Government International Bond6.125% 01/31/20220.4%
Sri Lanka (Democratic Socialist Republic of)6.250% 07/27/20210.4%
Alibaba Group Holding Ltd.3.600% 11/28/20240.4%
Eskom Holdings SOC Ltd.5.750% 01/26/20210.4%
CNAC HK Finbridge Co Ltd3.500% 07/19/20220.4%
Saudi Government International Bond3.625% 03/04/20280.4%
Warner Media LLC6.100% 07/15/20400.4%
Discover Card Execution Note Trust2.120% 12/15/20210.4%
Wells Fargo Commercial Mortgage Trust 2017-HSDB3.303% 12/13/20310.4%
Saudi Arabian Oil Co2.875% 04/16/20240.4%
Turkiye Garanti Bankasi AS6.250% 04/20/20210.4%
Patterson-UTI Energy, Inc.3.950% 02/01/20280.4%
Cox Communications, Inc.8.375% 03/01/20390.4%
United Rentals, Inc.4.875% 01/15/20280.4%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl4.700% 02/01/20360.3%
CSMC 2017-HD Trust3.390% 02/15/20310.3%
Sprint Capital Corp.6.875% 11/15/20280.3%
Capital Auto Receivables Asset Trust 2018-12.790% 01/20/20220.3%
BB-UBS Trust3.430% 11/05/20360.3%
Royal Caribbean Cruises Ltd.7.500% 10/15/20270.3%
Dell International LLC / EMC Corp.8.350% 07/15/20460.3%
Kerr-McGee Corp.7.875% 09/15/20310.3%
LMREC 2019-CRE3 Inc3.764% 12/22/20350.3%
Wells Fargo Commercial Mortgage Trust 2014-LC163.817% 08/15/20500.3%
BAMLL Trust4.420% 07/11/20330.3%
Apache Corp.5.100% 09/01/20400.3%
Nvent Finance Sarl4.550% 04/15/20280.3%
Glencore Finance Canada Ltd.5.550% 10/25/20420.3%
GE Capital Credit Card Master Note Trust1.760% 09/15/20220.3%
DISH DBS Corp.7.750% 07/01/20260.3%
MPT Operating Partnership L.P.5.000% 10/15/20270.3%
Brink's Co/The4.625% 10/15/20270.3%
Ally Financial, Inc.8.000% 11/01/20310.3%
GS Mortgage Securities Trust3.557% 04/10/20310.3%
BAT Capital Corp4.390% 08/15/20370.3%
Match Group, Inc.5.625% 02/15/20290.3%
Drive Auto Receivables Trust 2017-33.530% 12/15/20230.3%
Valeant Pharmaceuticals International, Inc.9.250% 04/01/20260.3%
NRG Energy, Inc.4.450% 06/15/20290.3%
Neuberger Berman Group LLC4.875% 04/15/20450.3%
Protective Life Corp.8.450% 10/15/20390.3%
AerCap Ireland Capital Ltd.3.650% 07/21/20270.3%
SCF Equipment Leasing 2019-1 LLC3.920% 11/20/20260.3%
SoFi Professional Loan Program 2017-D LLC2.650% 09/25/20400.3%
Walt Disney Co/The7.750% 12/01/20450.3%
OneMain Financial Issuance Trust 2019-13.480% 02/14/20310.3%
A10 Bridge Asset Financing LLC3.300% 05/15/20360.3%
CoreVest American Finance 2018-1 Trust3.804% 06/15/20510.3%
PSEG Power LLC8.625% 04/15/20310.2%
Gray Television, Inc.7.000% 05/15/20270.2%
Calpine Corp.5.750% 01/15/20250.2%
Fifth Third Auto Trust 2019-12.640% 12/15/20230.2%
Exeter Automobile Receivables Trust 2017-33.680% 07/17/20230.2%
Owens Corning7.000% 12/01/20360.2%
AMC Networks, Inc.4.750% 08/01/20250.2%
TransDigm, Inc.6.375% 06/15/20260.2%
Dell International LLC / EMC Corp6.020% 06/15/20260.2%
Dollar Tree, Inc.4.200% 05/15/20280.2%
Pentair Finance SA3.150% 09/15/20220.2%
Goldman Sachs Group, Inc.6.250% 02/01/20410.2%
CIT Group, Inc.6.125% 03/09/20280.2%
Reynolds American, Inc.5.700% 08/15/20350.2%
CCO Holdings LLC / CCO Holdings Capital Corp.5.000% 02/01/20280.2%
Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor4.080% 12/15/20470.2%
Burlington Northern Santa Fe LLC5.750% 05/01/20400.2%
Goldman Sachs Group, Inc.4.223% 05/01/20290.2%
Citigroup, Inc.3.980% 03/20/20300.2%
Dominion Resources, Inc.7.000% 06/15/20380.2%
Morgan Stanley4.000% 07/23/20250.2%
Fidelity National Financial Group4.500% 08/15/20280.2%
Great American Auto Leasing Inc 2019-13.210% 02/18/20250.2%
Fifth Third Auto Trust 2019-12.660% 05/16/20220.2%
Penn National Gaming, Inc.5.625% 01/15/20270.2%
Fairstone Financial Issuance Trust I6.299% 03/21/20330.2%
Exelon Generation Co. LLC6.250% 10/01/20390.2%
Navient Corp.6.750% 06/25/20250.2%
Hyundai Floorplan Master Owner Trust2.680% 04/15/20240.2%
Chemours Co.4.000% 05/15/20260.2%
Drive Auto Receivables Trust 2017-32.800% 07/15/20220.2%
Wyndham Worldwide Corp.5.750% 04/01/20270.2%
Williams Scotsman International Inc6.875% 08/15/20230.2%
First National Master Note Trust 2018-12.900% 10/15/20240.2%
SURA Asset Management SA4.875% 04/17/20240.2%
J.P. Morgan Chase Commercial Mortgage Securities T3.392% 06/05/20320.2%
Trimble Navigation Ltd.4.900% 06/15/20280.2%
Caesars Palace Las Vegas Trust 2017-VICI4.138% 10/15/20340.2%
Foursight Capital Automobile Receivables Trust 2015.560% 01/16/20240.2%
JBS USA LUX SA / JBS USA Food Co / JBS USA Finance6.500% 04/15/20290.2%
OneMain Financial Issuance Trust 2018-23.570% 03/14/20330.2%
Citigroup Commercial Mortgage Trust3.251% 05/10/20350.2%
NextGear Floorplan Master Owner Trust4.010% 10/15/20230.2%
Wells Fargo Commercial Mortgage Trust 2016-C354.176% 07/15/20480.2%
Honda Auto Receivables 2019-1 Owner Trust2.750% 09/20/20210.2%
West Town Mall Trust 2017-KNOX3.823% 07/05/20300.2%
ACC Trust 2019-14.470% 10/20/20220.2%
CSMC Trust3.811% 11/15/20340.2%
Teachers Insurance & Annuity Association of Americ4.900% 09/15/20440.2%
EPR Properties4.950% 04/15/20280.2%
Genesis Sales Finance Master Trust Series 2019-A5.420% 08/20/20230.2%
Textainer Marine Containers VII Ltd4.300% 04/20/20440.2%
American Express Credit Account Master Trust3.070% 10/15/20240.2%
BWAY 2015-1740 Mortgage Trust2.917% 01/10/20350.2%
CPS Auto Receivables Trust 2017-C3.790% 06/15/20230.2%
Commercial Mortgage Pass Through Certificates3.400% 10/05/20300.2%
JP Morgan Chase Commercial Mortgage Securities Tru3.621% 09/05/20320.2%
PFS Financing Corp.2.890% 02/15/20230.2%
ACC Trust 2018-14.820% 05/20/20210.2%
BDS 2019-FL3 LTD3.874% 12/15/20350.2%
Exantas Capital Corp 2019-RSO7 Ltd3.932% 04/15/20360.2%
Exantas Capital Corp 2019-RSO7 Ltd3.432% 04/15/20360.2%
GS Mortgage Securities Corp Trust 2018-RIVR3.390% 07/15/20350.2%
DBWF 2018-GLKS Mortgage Trust3.471% 11/19/20350.2%
BAMLL Commercial Mortgage Securities Trust 2019-AH4.040% 03/15/20340.2%
CPS Auto Receivables Trust 2018-A2.770% 04/18/20220.2%
Barclays Dryrock Issuance Trust2.410% 07/15/20220.2%
Synchrony Credit Card Master Note Trust2.640% 03/15/20230.2%
Ford Credit Auto Owner Trust 2014-REV22.310% 04/15/20260.2%
Chase Issuance Trust1.270% 07/15/20210.2%
Atrium Hotel Portfolio Trust 2018-ATRM3.390% 06/15/20350.2%
Synchrony Credit Card Master Note Trust1.580% 09/15/20220.2%
Towd Point Asset Trust 2018-SL13.429% 12/25/20480.2%
American Credit Acceptance Receivables Trust 2019-3.050% 05/12/20230.2%
Caesars Palace Las Vegas Trust 2017-VICI3.835% 10/15/20340.2%
Royal Caribbean Cruises Ltd.3.700% 03/15/20280.2%
Drive Auto Receivables Trust 2017-13.840% 03/15/20230.2%
Popular, Inc.6.125% 09/14/20230.2%
BX Trust 2017-SLCT3.640% 07/15/20340.2%
SLM Student Loan Trust 2007-32.640% 01/25/20220.2%
COMM Mortgage Trust4.440% 07/10/20500.2%
SCF Equipment Leasing 2019-1 LLC3.040% 03/20/20230.2%
Hilcorp Energy L.P. / Hilcorp Finance Co.6.250% 11/01/20280.2%
Halliburton Co.6.700% 09/15/20380.2%
Apache Corp.4.750% 04/15/20430.2%
Orchestra Borrower LLC / Orchestra Co-Issuer Inc6.750% 06/15/20220.2%
U.S. Treasury Note/Bond2.750% 11/15/20470.2%
Petroleos Mexicanos4.500% 01/23/20260.2%
Toronto-Dominion Bank3.625% 09/15/20310.2%
Eni USA Inc7.300% 11/15/20270.2%
Verizon Communications, Inc.3.784% 05/15/20250.2%
AREIT 2018-CRE2 Trust3.418% 11/14/20350.2%
American Credit Acceptance Receivables Trust 2016-6.090% 05/12/20220.2%
CNO Financial Group, Inc.5.250% 05/30/20250.2%
GM Financial Automobile Leasing Trust 2019-22.670% 06/21/20210.2%
Dominion Gas Holdings LLC4.600% 12/15/20440.2%
Enterprise Fleet Financing LLC2.870% 10/20/20230.2%
Morgan Stanley3.875% 01/27/20260.2%
First Investors Auto Owner Trust 2019-12.890% 03/15/20240.2%
Warner Media LLC6.250% 03/29/20410.1%
EPR Properties4.500% 06/01/20270.1%
SM Energy Co.6.625% 01/15/20270.1%
Intertape Polymer Group Inc7.000% 10/15/20260.1%
Ahern Rentals, Inc.7.375% 05/15/20230.1%
SCF Equipment Leasing 2018-1 LLC3.630% 10/20/20240.1%
DaVita, Inc.5.000% 05/01/20250.1%
Broadcom Corp. / Broadcom Cayman Finance Ltd.3.625% 01/15/20240.1%
Barrick North America Finance LLC7.500% 09/15/20380.1%
Engs Commercial Finance Trust 2018-12.970% 02/22/20210.1%
Ford Credit Floorplan Master Owner Trust A3.060% 04/15/20260.1%
Drive Auto Receivables Trust 2019-22.930% 03/15/20220.1%
Berkshire Hathaway Energy Co.3.800% 07/15/20480.1%
National Oilwell Varco, Inc.3.950% 12/01/20420.1%
Stonemont Portfolio Trust 2017-STONE6.041% 08/20/20300.1%
Transocean Proteus Ltd.6.250% 12/01/20240.1%
Air Lease Corp.3.625% 12/01/20270.1%
Stonemont Portfolio Trust 2017-STONE5.191% 08/20/20300.1%
California Republic Auto Receivables Trust 2017-12.910% 12/15/20220.1%
Drive Auto Receivables Trust3.660% 11/15/20240.1%
Airxcel, Inc.7.252% 04/28/20250.1%
Stars Group Holdings BV / Stars Group US Co-Borrow7.000% 07/15/20260.1%
Yak Access LLC12.319% 07/10/20260.1%
Intelsat Jackson Holdings SA8.500% 10/15/20240.1%
Freeport-McMoRan, Inc.3.875% 03/15/20230.1%
Sinclair Broadcast Group, Inc.5.875% 03/15/20260.1%
Capital One Multi-Asset Execution Trust2.950% 09/16/20240.1%
American Express Credit Account Master Trust2.890% 09/16/20240.1%
General Electric Co.3.100% 01/09/20230.1%
Wells Fargo Commercial Mortgage Trust4.286% 07/15/20460.1%
RETL 2019-RVP4.540% 03/15/20360.1%
BX Commercial Mortgage Trust 2018-BIOA3.111% 03/15/20370.1%
E*TRADE Financial Corp.3.800% 08/24/20270.1%
General Electric Co.5.000% 12/31/20990.1%
Santander UK plc7.950% 10/26/20290.1%
Sally Holdings LLC / Sally Capital, Inc.5.625% 12/01/20250.1%
Bill Barrett Corp.7.000% 10/15/20220.1%
ProAmpac PG Borrower LLC6.011% 11/20/20230.1%
Tesla Motors, Inc.5.300% 08/15/20250.1%
GM Financial Automobile Leasing Trust 2017-32.010% 11/20/20200.1%
JP Morgan Chase Commercial Mortgage Securities Tru3.805% 06/10/20270.1%
Aqua America, Inc.3.566% 05/01/20290.1%
California Resources Corp.8.000% 12/15/20220.1%
BBCMS 2018-TALL Mortgage Trust4.877% 03/15/20370.1%
Ashland, Inc.6.875% 05/15/20430.1%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.1%
Time Warner Cable LLC6.550% 05/01/20370.1%
Eoc Group Inc5.727% 02/28/20250.1%
RegionalCare Hospital Partners Holdings Inc / Life9.750% 12/01/20260.1%
International Lease Finance Corp.5.875% 08/15/20220.1%
Fresenius Medical Care US Finance II, Inc.4.750% 10/15/20240.1%
Schlumberger Holdings Corp.4.300% 05/01/20290.1%
SCF Equipment Leasing 2017-2 LLC3.410% 12/20/20230.1%
Chesapeake Funding II LLC1.910% 08/15/20290.1%
Acadia Healthcare Co., Inc.6.500% 03/01/20240.1%
Energy Transfer Operating LP6.125% 12/15/20450.1%
Pennsylvania Electric Co.3.600% 06/01/20290.1%
1345 Avenue of the Americas & Park Avenue Plaza Tr5.278% 08/10/20350.1%
Continental Resources, Inc.4.900% 06/01/20440.1%
Wells Fargo Commercial Mortgage Trust4.127% 05/15/20480.1%
Century Communities, Inc.6.750% 06/01/20270.1%
Tenet Healthcare Corp.6.250% 02/01/20270.1%
Hilton Orlando Trust 2018-ORL4.140% 12/15/20340.1%
BX Trust 2018-GW3.240% 05/15/20350.1%
Piedmont Natural Gas Co., Inc.3.500% 06/01/20290.1%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.1%
COMM Mortgage Trust4.440% 07/10/20500.1%
Polaris Intermediate Corp8.500% 12/01/20220.1%
JP Morgan Chase Commercial Mortgage Securities Tru4.540% 06/15/20320.1%
Mercedes-Benz Auto Lease Trust 2018-B3.040% 12/15/20200.1%
Chesapeake Funding II LLC1.990% 05/15/20290.1%
Cliffs Natural Resources, Inc.5.750% 03/01/20250.1%
WFRBS Commercial Mortgage Trust4.890% 08/15/20450.1%
COMM Mortgage Trust4.349% 12/10/20470.1%
Natixis Commercial Mortgage Securities Trust 2018-3.790% 11/15/20320.1%
Sabine Pass Liquefaction LLC5.625% 03/01/20250.1%
WFRBS Commercial Mortgage Trust4.342% 03/15/20480.1%
Natixis Commercial Mortgage Securities Trust 2018-3.790% 11/15/20320.1%
IRB Holding Corp6.750% 02/15/20260.1%
GS Mortgage Securities Trust4.520% 11/10/20470.1%
JP Morgan Chase Commercial Mortgage Securities Tru5.440% 06/15/20350.1%
Access Point Funding I 2017-1 LLC3.060% 04/15/20290.1%
Orange Lake Timeshare Trust 2019-A3.060% 04/09/20380.1%
Drive Auto Receivables Trust5.150% 08/15/20220.1%
Nine Energy Service Inc8.750% 11/01/20230.1%
BMW Vehicle Lease Trust 2019-12.790% 03/22/20210.1%
Pyxus International Inc9.875% 07/15/20210.1%
Citigroup Commercial Mortgage Trust 2016-GC362.850% 02/10/20490.1%
Universal Health Services, Inc.4.750% 08/01/20220.1%
Asbury Automotive Group, Inc.6.000% 12/15/20240.1%
GM Financial Automobile Leasing Trust 2019-22.670% 03/21/20220.1%
Capital Auto Receivables Asset Trust3.340% 03/22/20210.1%
Oglethorpe Power Corp.5.050% 10/01/20480.1%
Hilton Orlando Trust 2018-ORL3.210% 12/15/20340.1%
Frontera Generation Hold6.717% 05/02/20250.1%
Dell International LLC / EMC Corp7.125% 06/15/20240.1%
Diamond Resorts Owner Trust4.110% 10/22/20290.1%
Embraer Netherlands Finance BV5.050% 06/15/20250.1%
Rockies Express Pipeline LLC6.875% 04/15/20400.1%
The Royal Bank of Scotland Group PLC6.125% 12/15/20220.1%
Toll Brothers Finance Corp.4.875% 03/15/20270.1%
Campbell Soup Co.3.800% 08/02/20420.1%
CCO Holdings LLC / CCO Holdings Capital Corp.5.750% 02/15/20260.1%
California Republic Auto Receivables Trust2.530% 06/15/20210.1%
Shelter Growth CRE 2018-FL1 Issuer Ltd3.440% 01/15/20350.1%
Banff Merger Sub Inc9.750% 09/01/20260.1%
Surgery Center Holdings, Inc.6.750% 07/01/20250.1%
Chesapeake Funding II LLC1.880% 06/15/20280.1%
Ecopetrol S.A.5.875% 05/28/20450.1%
DLL 2018-2 LLC3.140% 10/20/20200.1%
Summit Materials LLC5.125% 06/01/20250.1%
DRB Prime Student Loan Trust3.200% 01/25/20400.1%
Citigroup, Inc.4.450% 09/29/20270.1%
Exelon Generation Co. LLC5.600% 06/15/20420.1%
PHEAA Student Loan Trust I2.850% 04/25/20380.1%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.1%
CarMax Auto Owner Trust2.880% 10/15/20210.1%
Lamb Weston Holdings, Inc.4.875% 11/01/20260.1%
JP Morgan Chase Commercial Mortgage Securities Tru3.440% 06/15/20320.1%
Santander Drive Auto Receivables Trust 2015-23.020% 04/15/20210.1%
Discover Card Execution Note Trust3.040% 07/15/20240.1%
Government National Mortgage Association2.700% 08/16/20580.1%
Citgo Holding, Inc.10.750% 02/15/20200.1%
JP Morgan Chase Commercial Mortgage Securities Tru4.040% 06/15/20320.1%
Delphi Automotive plc4.350% 03/15/20290.1%
Foursight Capital Automobile Receivables Trust 2012.850% 08/16/20210.1%
Caesars Palace Las Vegas Trust 2017-VICI3.531% 10/15/20340.1%
Interstate Power & Light Co3.600% 04/01/20290.1%
SG Commercial Mortgage Securities Trust 2019-787E0.305% 02/15/20410.1%
U.S. Treasury Note/Bond2.375% 05/15/20290.1%
Drive Auto Receivables Trust3.040% 11/15/20210.1%
MEG Energy Corp.6.375% 01/30/20230.1%
Government National Mortgage Association2.750% 02/16/20580.1%
Vale Overseas Ltd.6.250% 08/10/20260.1%
Fibria Overseas Finance Ltd.4.000% 01/14/20250.1%
Government National Mortgage Association2.700% 04/16/20570.1%
PGT Escrow Issuer Inc6.750% 08/01/20260.1%
YPF S.A.8.500% 03/23/20210.1%
Ortho-Clinical Diagnostics Inc / Ortho-Clinical Di6.625% 05/15/20220.1%
Total System Services, Inc.4.800% 04/01/20260.1%
Albertsons Cos LLC / Safeway, Inc. / New Albertson6.625% 06/15/20240.1%
ReadyCap Commercial Mortgage Trust 2018-43.390% 02/27/20510.1%
JP Morgan Chase Commercial Mortgage Securities Cor4.613% 07/05/20310.1%
Charter Communications Operating LLC6.484% 10/23/20450.1%
Motel 6 Trust 2017-MTL65.690% 08/15/20340.1%
Government National Mortgage Association2.600% 06/16/20570.1%
ACC Trust 2018-13.700% 12/21/20200.1%
Warner Media LLC6.200% 03/15/20400.1%
Hardee's Funding LLC4.959% 06/20/20480.1%
TCF Auto Receivables Owner Trust3.530% 03/15/20220.1%
World Financial Network Credit Card Master Trust1.980% 06/15/20230.1%
Pulte Group, Inc.5.500% 03/01/20260.1%
Fifth Third Auto Trust 2019-12.690% 11/16/20260.1%
TRI Pointe Homes LLC5.250% 06/01/20270.1%
Capital One Multi-Asset Execution Trust1.330% 06/15/20220.1%
Caesars Palace Las Vegas Trust 2017-VICI4.354% 10/15/20340.1%
World Omni Select Auto Trust 2018-13.240% 04/15/20220.1%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.0%
Federal Home Loan Mortgage Corp.3.444% 12/25/20270.0%
MSCI, Inc.5.750% 08/15/20250.0%
Aquarion Co.4.000% 08/15/20240.0%
Cleco Power LLC6.000% 12/01/20400.0%
American Credit Acceptance Receivables Trust 2018-3.380% 12/13/20210.0%
WFRBS Commercial Mortgage Trust3.488% 09/15/20570.0%
JP Morgan Chase Commercial Mortgage Securities Tru3.717% 07/05/20330.0%
JP Morgan Chase Commercial Mortgage Securities Tru4.248% 07/05/20330.0%
Rain CII Carbon LLC7.250% 04/01/20250.0%
California Republic Auto Receivables Trust 2015-43.730% 11/15/20210.0%
GS Mortgage Securities Corp Trust 2018-FBLU5.190% 11/15/20350.0%
Community Health Systems, Inc.8.000% 11/15/20190.0%
Republic of El Salvador6.375% 01/18/20270.0%
William Lyon Homes, Inc.5.875% 01/31/20250.0%
Kennametal, Inc.4.625% 06/15/20280.0%
Canadian Natural Resources Ltd.3.850% 06/01/20270.0%
Kraft Heinz Foods Co.6.875% 01/26/20390.0%
Drive Auto Receivables Trust3.720% 09/16/20240.0%
Orec 2018-CRE1 Ltd3.620% 06/15/20360.0%
GS Mortgage Securities Corp Trust 2018-FBLU3.382% 11/15/20350.0%
World Financial Network Credit Card Master Trust2.660% 08/15/20240.0%
Norbord, Inc.6.250% 04/15/20230.0%
Eterna Capital Pte Ltd8.000% 12/11/20220.0%
South Carolina Electric & Gas Co.6.050% 01/15/20380.0%
Citigroup Commercial Mortgage Trust 2016-P32.804% 04/15/20490.0%
Helmerich & Payne, Inc.4.650% 03/15/20250.0%
Goodman US Finance Three LLC3.700% 03/15/20280.0%
Solera Finance, Inc.10.500% 03/01/20240.0%
Neuberger Berman Group LLC4.500% 03/15/20270.0%
Conn's, Inc.7.250% 07/15/20220.0%
HCA, Inc.5.500% 06/15/20470.0%
Ashton Woods USA LLC / Ashton Woods Finance Co.6.750% 08/01/20250.0%
Chesapeake Funding II LLC2.110% 03/15/20280.0%
Colonial Pipeline Co.4.250% 04/15/20480.0%
Bank of America Corp.3.824% 01/20/20280.0%
Weight Watchers International, Inc.8.625% 12/01/20250.0%
Americredit Automobile Receivables Trust 2018-33.110% 01/18/20220.0%
Americredit Automobile Receivables Trust 2018-32.691% 01/18/20220.0%
E*TRADE Financial Corp.4.500% 06/20/20280.0%
Hyundai Auto Lease Securitization Trust 2017-C1.890% 03/16/20200.0%
Goldman Sachs Group, Inc.6.750% 10/01/20370.0%
Valmont Industries, Inc.5.250% 10/01/20540.0%
Halliburton Co.7.450% 09/15/20390.0%
Macquarie Bank Ltd.6.625% 04/07/20210.0%
HCA, Inc.7.500% 11/06/20330.0%
Hillman Group, Inc.6.375% 07/15/20220.0%
Continental Resources, Inc.4.500% 04/15/20230.0%
First Investors Auto Owner Trust 2018-23.230% 12/15/20220.0%
Drive Auto Receivables Trust 2018-53.080% 07/15/20210.0%
AmeriCredit Automobile Receivables Trust 2017-22.970% 03/20/20230.0%
Foursight Capital Automobile Receivables Trust 2012.870% 10/15/20210.0%
Drive Auto Receivables Trust3.010% 11/15/20210.0%
BAT Capital Corp3.557% 08/15/20270.0%
Orange Lake Timeshare Trust 2015-A2.880% 09/08/20270.0%
Interest Rate Swap0.000% 04/01/20210.0%
William Lyon Homes, Inc.6.000% 09/01/20230.0%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.000% 12/01/20240.0%
BMW Vehicle Owner Trust 2018-A2.090% 11/25/20200.0%
SLIDE 2018-FUN4.290% 06/15/20310.0%
Albertsons Cos LLC / Safeway, Inc. / New Albertson5.750% 03/15/20250.0%
Sealed Air Corp.5.500% 09/15/20250.0%
CIT Group, Inc.6.000% 04/01/20360.0%
Eldorado Resorts, Inc.6.000% 04/01/20250.0%
General Electric Co.2.945% 05/05/20260.0%
WellCare Health Plans, Inc.5.250% 04/01/20250.0%
Government National Mortgage Association2.700% 07/16/20570.0%
First Investors Auto Owner Trust2.410% 12/15/20220.0%
Appalachian Power Co.7.000% 04/01/20380.0%
Carnival plc7.875% 06/01/20270.0%
Targa Resources Partners L.P.5.375% 02/01/20270.0%
Government National Mortgage Association2.650% 11/16/20500.0%
Drive Auto Receivables Trust 2018-52.760% 07/15/20210.0%
TNT Crane and Rigging7.101% 11/27/20200.0%
Sprint Corp.7.875% 09/15/20230.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%
Government National Mortgage Association2.750% 02/16/20580.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%
Quality Distribution, Inc.10.999% 08/18/20230.0%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.0%
Flagship Credit Auto Trust 2018-12.590% 06/15/20220.0%
OM Asset Management plc4.800% 07/27/20260.0%
Drive Auto Receivables Trust4.160% 05/15/20240.0%
TCF Auto Receivables Owner Trust 2016-PT12.920% 10/17/20220.0%
Expedia, Inc.5.000% 02/15/20260.0%
JP Morgan Chase Commercial Mortgage Securities Tru4.549% 07/05/20330.0%
EPR Properties4.750% 12/15/20260.0%
BCD Acquisition, Inc.9.625% 09/15/20230.0%
JP Morgan Chase Commercial Mortgage Securities Tru4.950% 07/05/20330.0%
Government National Mortgage Association2.600% 07/16/20580.0%
Caesars Palace Las Vegas Trust 2017-VICI4.354% 10/15/20340.0%
JPMBB Commercial Mortgage Securities Trust4.269% 07/15/20480.0%
Daimler Trucks Retail Trust 2018-12.600% 05/15/20200.0%
COMM Mortgage Trust4.440% 07/10/20500.0%
Drive Auto Receivables Trust3.340% 09/15/20220.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr3.790% 11/15/20200.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr3.460% 11/15/20200.0%
Bancorp Commercial Mortgage 2018-CRE3 Trust/The3.290% 01/15/20330.0%
JP Morgan Chase Commercial Mortgage Securities Tru3.417% 07/05/20330.0%
Flagship Credit Auto Trust 2017-32.590% 07/15/20220.0%
Vulcan Materials Co.4.700% 03/01/20480.0%
Dell International LLC / EMC Corp.5.450% 06/15/20230.0%
Bank of America Corp.4.450% 03/03/20260.0%
JP Morgan Chase Commercial Mortgage Securities Tru2.829% 10/15/20450.0%
Bayer Corp6.650% 02/15/20280.0%
Time Warner Entertainment Co. L.P.8.375% 07/15/20330.0%
California Republic Auto Receivables Trust 2016-22.520% 05/16/20220.0%
Mercedes-Benz Auto Lease Trust 2018-A2.200% 04/15/20200.0%
South Carolina Electric & Gas Co.6.625% 02/01/20320.0%
Eoc Group Inc2.000% 02/26/20260.0%
Kinross Gold Corp.5.950% 03/15/20240.0%
Flagship Credit Auto Trust 2017-42.070% 04/15/20220.0%
Bank of America Corp.4.000% 01/22/20250.0%
PPL Corp.5.200% 07/15/20410.0%
AmeriCredit Automobile Receivables Trust 2017-32.240% 06/19/20230.0%
Drive Auto Receivables Trust3.020% 11/15/20210.0%
Affiliated Managers Group, Inc.4.250% 02/15/20240.0%
Peabody Energy Corp.6.375% 03/31/20250.0%
Pennsylvania5.350% 05/01/20300.0%
California Republic Auto Receivables Trust 2017-11.900% 03/15/20210.0%
Santander Drive Auto Receivables Trust 2017-32.760% 12/15/20220.0%
Affiliated Managers Group, Inc.3.500% 08/01/20250.0%
General Electric Co.3.150% 09/07/20220.0%
Drive Auto Receivables Trust4.180% 03/15/20240.0%
Flagship Credit Auto Trust 2017-31.880% 10/15/20210.0%
Mercedes-Benz Auto Receivables Trust 2016-11.260% 02/16/20210.0%
Ascentium Equipment Receivables 2017-1 Trust2.290% 06/10/20210.0%
SunTrust Auto Receivables Trust1.780% 01/15/20210.0%
Rayonier AM Products, Inc.5.500% 06/01/20240.0%
FX USD/EUR 06/190.000% 06/07/20190.0%
Drive Auto Receivables Trust2.610% 08/16/20210.0%
FX USD/CAD 06/190.000% 06/19/20190.0%
Commercial Mortgage Backed Index Swap3.000% 11/18/20540.0%
Monitronics International, Inc.9.125% 04/01/20200.0%
FX USD/EUR 06/190.000% 06/07/20190.0%
Honda Auto Receivables 2016-2 Owner Trust1.390% 04/15/20200.0%
AmeriCredit Automobile Receivables Trust 2017-31.690% 12/18/20200.0%
Commercial Mortgage Backed Index Swap3.000% 11/18/20540.0%
Santander Drive Auto Receivables Trust 2016-31.890% 06/15/20210.0%
Ally Auto Receivables Trust 2017-51.810% 06/15/20200.0%
Drive Auto Receivables Trust2.780% 10/15/20200.0%
US ULTRA BOND CBT SEP190.000% 09/30/20190.0%
US 2YR NOTE (CBT) SEP190.000% 10/03/20190.0%
CAN 5YR FUT SEPT190.000% 09/30/20190.0%
EURO-SCHATZ FUT JUN190.000% 06/10/20190.0%
US 5YR NOTE (CBT) SEP190.000% 10/03/20190.0%
US 10YR ULTRA FUT SEP190.000% 09/30/20190.0%
FX EUR/USD 06/190.000% 06/07/20190.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%
Interest Rate Swap2.404% 04/01/20290.0%
Credit Index Swap1.000% 06/20/20240.0%

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 07/19/2019
$0.277
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 06/30/2019 $0.04697 $15.25
Daily Daily 05/31/2019 $0.04682 $15.05
Daily Daily 04/30/2019 $0.04585 $14.93
Daily Daily 03/31/2019 $0.04626 $14.90
Daily Daily 02/28/2019 $0.04406 $14.68
Daily Daily 01/31/2019 $0.04742 $14.69

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 07/31/2019
Daily Daily 08/31/2019
Daily Daily 09/30/2019
Daily Daily 10/31/2019
Daily Daily 11/30/2019
Daily Daily 12/31/2019

Fees & Expenses

Fees & Expenses

Expense Ratioas of 06/30/2019

Fund Gross Expense Ratio Fund Net Expense Ratio
2.17% 0.46%

Expense ratio details, Click here.

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
Flyer
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 debt securities, including market, credit, liquidity, and interest rate risk. The value of an 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. Debt securities are subject to credit risk, which is the risk that the issuer will fail to make timely payments of interest and principal to the Fund. The Fund may invest in high yield, lower-rated debt securities, sometimes called junk bonds and may involve greater risks than higher rated debt securities. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can affect Fund performance. Past performance is no guarantee of future results.

 

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.

 

 

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 April 4, 2017,  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 (b) 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 Bloomberg Barclays U.S. Universal Index represents the union of the U.S. Aggregate Index, the U.S. High-Yield Corporate Index, the 144A Index, the Eurodollar Index, the Emerging Markets Index, and the non-ERISA portion of the CMBS Index. Municipal debt, private placements, and non-dollar-denominated issues are excluded from the Universal Index. The only constituent of the index that includes floating-rate debt is the Emerging Markets Index.

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.

 

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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