LAPTX | Core Plus Bond Fund Class R2 | Lord Abbett
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Core Plus Bond Fund

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.

 

Fund Basicsas of 05/28/2021

Total Net Assets
$273.96 M
Inception Date
Dividend Frequency
-
Number of Holdings
554
Type Assets
Investment Grade Corporate
High Yield Corporate
ABS
U.S. Government Related
CMBS
CLO
MBS
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 05/28/2021 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

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

19 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

29 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Managing Director, Portfolio Manager

12 Years of Industry Experience

Leah G. Traub
Leah G. Traub, Ph.D.

Partner & Portfolio Manager

19 Years of Industry Experience

Harris Trifon
Harris Trifon

Managing Director, Portfolio Manager

20 Years of Industry Experience

Supported By 61 Investment Professionals with 16 Years Avg. Industry Experience

Contact a Representative

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

Performance

Performance

Portfolio

Portfolio

Rating Assets
Investment Grade Corporate
High Yield Corporate
ABS
U.S. Government Related
CMBS
CLO
MBS
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 05/28/2021

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 Positioningas of 12/31/2020

  • Over the quarter the largest change in the Fund composition was an increase in sovereign debt. We increased the allocation as we found attractive relative value in select issues overseas given their lag compared to U.S. credit since March.
  • We modestly decreased the Fund’s allocation to U.S. investment grade corporate credit over the period, as spreads tightened significantly, and we took gains in specific issues.
  • We feel valuations are fair, though tight relative to historical levels. This is justified by improving economic fundamentals and an abundance of liquidity in the market. We continue to have a broadly constructive view on credit, and are positioning the Fund based on relative value, underlying fundamentals, and our top-down view.
  • We are investing in the essential and nonessential industries that are benefitting from a continued reopening of the economy. The magnitude and scale of this global pandemic has accelerated some secular shifts which are likely to remain even with access of the vaccine. The portfolio’s positioning currently reflects this view as we are investing in companies and industries that we believe are better poised to adapt to and benefit from these structural economic changes.

Portfolio Details as of 05/28/2021

Total Net Assets
$273.96 M
Number of Issues
554
Average Coupon
3.57%
Average Life
6.21 Years
Average Maturity
6.21 Years
Average Effective Duration
5.76 Years
Average Modified Duration
6.21 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 Note/Bond 1.125% 05/15/2040 3.3%
United States Treasury Note/Bond 0.750% 03/31/2026 3.2%
United States Treasury Note/Bond 1.625% 11/15/2050 2.0%
30-YR GNMA II-TBA PROD JUN 2.500% 08/01/2050 1.9%
United States Treasury Note/Bond 1.125% 02/29/2028 1.6%
Toyota Auto Receivables 2021-A Owner Trust 0.160% 07/17/2023 1.1%
United States Treasury Bill 0.000% 11/18/2021 1.0%
UBS AG 5.125% 05/15/2024 0.8%
BAT International Finance plc 1.668% 03/25/2026 0.8%
Ford Credit Auto Lease Trust 2021-A 0.190% 07/15/2023 0.8%
% of Total Assets 16.5%
Holding Coupon Maturity Assets
United States Treasury Note/Bond0.750% 03/31/20265.7%
United States Treasury Note/Bond1.125% 05/15/20402.8%
30-YR GNMA II-TBA PROD MAY2.500% 07/01/20501.9%
United States Treasury Note/Bond1.125% 02/29/20281.6%
Toyota Auto Receivables 2021-A Owner Trust0.160% 07/17/20231.1%
United States Treasury Note/Bond1.625% 11/15/20501.1%
30-YR UMBS-TBA PROD MAY2.500% 07/01/20501.0%
UBS AG5.125% 05/15/20240.9%
Mercedes-Benz Auto Lease Trust 2021-A0.180% 03/15/20230.8%
Ford Credit Auto Lease Trust 2021-A0.190% 07/15/20230.8%
BAT International Finance plc1.668% 03/25/20260.8%
Fannie Mae Pool3.500% 09/01/20470.8%
AT&T Inc4.300% 02/15/20300.8%
Carmax Auto Owner Trust 2021-10.220% 02/15/20240.8%
World Omni Auto Receivables Trust 2021-A0.170% 02/15/20240.8%
United States Treasury Note/Bond0.625% 08/15/20300.8%
Bank of America Corp3.593% 07/21/20280.7%
Santander Drive Auto Receivables Trust 2021-10.290% 11/15/20230.7%
Sabine Pass Liquefaction LLC5.875% 06/30/20260.7%
General Motors Financial Co Inc3.600% 06/21/20300.7%
Drive Auto Receivables Trust 2017-15.170% 09/16/20240.6%
Freeport-McMoRan Inc4.125% 03/01/20280.6%
Qatar Government International Bond3.250% 06/02/20260.6%
VMC Finance 2019-FL3 LLC1.214% 09/15/20360.6%
Glencore Funding LLC4.875% 03/12/20290.5%
Lendmark Funding Trust 2018-13.810% 12/21/20260.5%
Boeing Co/The4.875% 05/01/20250.5%
Fannie Mae Pool3.500% 03/01/20500.5%
Bayer US Finance II LLC4.250% 12/15/20250.5%
Wells Fargo Commercial Mortgage Trust 2016-C354.176% 07/15/20480.5%
KKR CLO 10 Ltd1.884% 09/15/20290.5%
CARLYLE US CLO 2021-1 LTD1.331% 04/15/20340.5%
United States Treasury Note/Bond1.375% 08/15/20500.5%
Westlake Automobile Receivables Trust 2018-24.000% 01/16/20240.4%
CIFC Funding 2021-I Ltd1.246% 04/25/20330.4%
Citigroup Inc3.887% 01/10/20280.4%
AerCap Ireland Capital DAC / AerCap Global Aviatio4.875% 01/16/20240.4%
Time Warner Cable LLC7.300% 07/01/20380.4%
Westlake Automobile Receivables Trust 2021-14.310% 09/15/20270.4%
Dell International LLC / EMC Corp.8.350% 07/15/20460.4%
PSEG Power LLC8.625% 04/15/20310.4%
Steel Dynamics Inc5.000% 12/15/20260.4%
General Electric Co3.514% 06/15/21990.4%
Fluor Corp4.250% 09/15/20280.4%
Diamondback Energy Inc3.500% 12/01/20290.4%
Nvent Finance Sarl4.550% 04/15/20280.4%
Genesis Sales Finance Master Trust2.240% 09/22/20250.4%
Amur Equipment Finance Receivables IX LLC2.300% 11/22/20270.4%
HCA Inc4.125% 06/15/20290.4%
SCF Equipment Leasing 2021-1 LLC3.560% 08/20/20320.4%
Kayne CLO 10 Ltd1.367% 04/23/20340.4%
MPT Operating Partnership LP / MPT Finance Corp4.625% 08/01/20290.4%
Boeing Co/The5.040% 05/01/20270.3%
CSAIL 2016-C7 Commercial Mortgage Trust4.533% 11/15/20490.3%
AIB Group PLC4.750% 10/12/20230.3%
Westpac Banking Corp4.322% 11/23/20310.3%
NiSource Inc3.490% 05/15/20270.3%
ME Funding LLC 2019-16.448% 07/30/20490.3%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.3%
Westinghouse Air Brake Technologies Corp4.950% 09/15/20280.3%
Daimler Finance North America LLC1.121% 02/15/20220.3%
Drive Auto Receivables Trust 2019-14.090% 06/15/20260.3%
ReadyCap Commercial Mortgage Trust 2019-62.833% 10/25/20520.3%
State of Illinois5.100% 06/01/20330.3%
Ford Motor Co7.450% 07/16/20310.3%
VeriSign Inc4.625% 05/01/20230.3%
Puget Energy Inc6.000% 09/01/20210.3%
Flagship Credit Auto Trust 2021-10.310% 06/16/20250.3%
Navient Corp6.750% 06/25/20250.3%
GS Mortgage Securities Corp Trust 2019-70P1.435% 10/15/20360.3%
American Campus Communities Operating Partnership3.875% 01/30/20310.3%
OneMain Finance Corp5.375% 11/15/20290.3%
Ally Financial Inc8.000% 11/01/20310.3%
MEG Energy Corp7.125% 02/01/20270.3%
Aviation Capital Group LLC5.500% 12/15/20240.3%
Perimeter Master Note Business Trust7.060% 05/15/20240.3%
Occidental Petroleum Corp6.125% 01/01/20310.3%
Diamondback Energy Inc5.375% 05/31/20250.3%
National Fuel Gas Co3.950% 09/15/20270.3%
Egypt Government International Bond6.588% 02/21/20280.3%
Dryden 61 Clo Ltd1.180% 01/17/20320.3%
COMM 2014-UBS4 Mortgage Trust4.869% 08/10/20470.3%
National Australia Bank Ltd3.933% 08/02/20340.3%
Kayne CLO 7 Ltd1.390% 04/17/20330.3%
Netflix Inc6.375% 05/15/20290.3%
Alcon Finance Corp2.600% 05/27/20300.3%
WEA Finance LLC2.875% 01/15/20270.3%
PulteGroup Inc6.375% 05/15/20330.3%
Peruvian Government International Bond2.392% 01/23/20260.3%
CF Trust 2019-MF12.950% 08/21/20320.3%
Saudi Government International Bond3.250% 10/22/20300.3%
TCW CLO 2019-1 AMR Ltd3.184% 02/15/20290.3%
VEREIT Operating Partnership L.P.4.875% 06/01/20260.3%
Petroleos Mexicanos5.350% 02/12/20280.3%
Anglo American Capital plc4.750% 04/10/20270.3%
TCW CLO 2019-1 AMR Ltd1.869% 02/15/20290.3%
NRG Energy Inc4.450% 06/15/20290.3%
Credit Suisse Commercial Mortgage Securities Corp1.365% 01/15/20340.3%
Guatemala Government Bond4.900% 06/01/20300.3%
Benefit Street Partners CLO XXI Ltd2.984% 07/15/20310.3%
NGPL Pipeco LLC4.875% 08/15/20270.3%
Amur Equipment Finance Receivables V LLC3.740% 04/22/20240.3%
Hilcorp Energy I LP / Hilcorp Finance Co5.750% 02/01/20290.2%
Duquesne Light Holdings Inc2.532% 10/01/20300.2%
Nigeria Government International Bond6.375% 07/12/20230.2%
Microchip Technology Inc4.333% 06/01/20230.2%
Fontainebleau Miami Beach Trust 2019-FBLU3.144% 12/10/20360.2%
Biogen Inc2.250% 05/01/20300.2%
Saudi Arabian Oil Co2.875% 04/16/20240.2%
Cox Communications Inc8.375% 03/01/20390.2%
Kenya Government International Bond7.250% 02/28/20280.2%
Fontainebleau Miami Beach Trust 2019-FBLU3.447% 12/10/20360.2%
Fairstone Financial Issuance Trust I6.873% 10/20/20390.2%
Petroleos Mexicanos4.500% 01/23/20260.2%
Becton Dickinson and Co1.255% 06/06/20220.2%
Playtika Holding Corp2.863% 03/05/20280.2%
Delta Air Lines Inc7.000% 05/01/20250.2%
FirstEnergy Corp4.400% 07/15/20270.2%
Kraft Heinz Foods Co4.375% 06/01/20460.2%
Eskom Holdings SOC Ltd7.125% 02/11/20250.2%
Aircastle Ltd4.250% 06/15/20260.2%
Alimentation Couche-Tard Inc2.700% 07/26/20220.2%
Galaxy Pipeline Assets Bidco Ltd3.250% 09/30/20400.2%
Transocean Guardian Ltd5.875% 01/15/20240.2%
Palmer Square Loan Funding 2020-1 Ltd0.982% 02/20/20280.2%
Oaktree EIF III Series I Ltd2.188% 10/20/20270.2%
Rite Aid Corp8.000% 11/15/20260.2%
Laredo Petroleum Inc9.500% 01/15/20250.2%
FMG Resources August 2006 Pty Ltd4.500% 09/15/20270.2%
Viper Energy Partners LP5.375% 11/01/20270.2%
Verus Securitization Trust 2020-51.218% 05/25/20650.2%
GrubHub Holdings Inc5.500% 07/01/20270.2%
Installed Building Products Inc5.750% 02/01/20280.2%
United Rentals North America Inc3.875% 11/15/20270.2%
Chesapeake Funding II LLC2.940% 04/15/20310.2%
Imperial Brands Finance PLC3.875% 07/26/20290.2%
Altria Group Inc4.800% 02/14/20290.2%
National Fuel Gas Co5.500% 01/15/20260.2%
TEGNA Inc5.000% 09/15/20290.2%
Discover Bank4.682% 08/09/20280.2%
NVR Inc3.000% 05/15/20300.2%
HCA Inc5.250% 06/15/20260.2%
Aadvantage Loyalty IP5.500% 03/10/20280.2%
Murphy Oil USA Inc4.750% 09/15/20290.2%
Match Group Holdings II LLC4.125% 08/01/20300.2%
Regeneron Pharmaceuticals Inc1.750% 09/15/20300.2%
GS Mortgage Securities Corp Trust 2019-SMP1.615% 08/15/20320.2%
Universal Health Services Inc5.000% 06/01/20260.2%
M360 2019-CRE2 LLC1.965% 09/15/20340.2%
Caesars Entertainment Inc8.125% 07/01/20270.2%
COMM 2015-DC1 Mortgage Trust4.451% 02/10/20480.2%
Avid Automobile Receivables Trust 2019-13.140% 07/15/20260.2%
Country Garden Holdings Co Ltd4.750% 09/28/20230.2%
Great Wolf Trust 2019-WOLF1.149% 12/15/20360.2%
Avid Automobile Receivables Trust 2019-12.820% 07/15/20260.2%
Perimeter Master Note Business Trust6.020% 12/15/20220.2%
Viterra Finance BV3.200% 04/21/20310.2%
Ammc Clo 19 Ltd2.734% 10/16/20280.2%
Palmer Square Loan Funding 2018-5 Ltd1.038% 01/20/20270.2%
Signal Peak CLO 4 Ltd3.226% 10/26/20290.2%
Ammc Clo 19 Ltd1.984% 10/16/20280.2%
Wells Fargo Commercial Mortgage Trust4.405% 07/15/20460.2%
DBWF 2018-GLKS Mortgage Trust1.145% 12/19/20300.2%
Sri Lanka Government International Bond5.875% 07/25/20220.2%
Morgan Stanley5.875% 12/31/20990.2%
Westpac Banking Corp2.894% 02/04/20300.2%
Universal Health Services Inc2.650% 10/15/20300.2%
Carnival Corp11.500% 04/01/20230.2%
BCP Raptor II LLC4.863% 10/22/20250.2%
Continental Resources Inc/OK5.750% 01/15/20310.2%
Avolon Holdings Funding Ltd5.250% 05/15/20240.2%
Baidu Inc2.375% 10/09/20300.2%
Foursight Capital Automobile Receivables Trust 2015.560% 01/16/20240.2%
Prosus NV3.832% 02/08/20510.2%
CPS Auto Trust4.610% 12/15/20220.2%
Diamond Sports Group LLC / Diamond Sports Finance5.375% 08/15/20260.2%
Occidental Petroleum Corp2.900% 08/15/20240.2%
Cemex SAB de CV5.450% 11/19/20290.2%
Flagship Credit Auto Trust 2020-34.980% 12/15/20270.2%
China Evergrande Group7.500% 06/28/20230.2%
Atrium Hotel Portfolio Trust 2018-ATRM1.065% 06/15/20350.2%
Oglethorpe Power Corp5.950% 11/01/20390.2%
TCW CLO 2017-1A Ltd3.327% 07/29/20290.2%
EPR Properties4.950% 04/15/20280.2%
Saudi Government International Bond3.625% 03/04/20280.2%
Credit Suisse Mortgage Capital Certificates1.616% 04/25/20650.2%
Calpine Corp5.000% 02/01/20310.2%
Shackleton 2015-VIII CLO Ltd2.888% 10/20/20270.2%
CCO Holdings LLC / CCO Holdings Capital Corp4.750% 03/01/20300.2%
Minerva Luxembourg SA5.875% 01/19/20280.2%
Marble Point CLO XVII Ltd1.488% 04/20/20330.2%
Hasbro Inc3.000% 11/19/20240.2%
Protective Life Corp8.450% 10/15/20390.2%
Park Aerospace Holdings Ltd5.500% 02/15/20240.2%
Freeport-McMoRan Inc4.250% 03/01/20300.2%
ESH Hospitality Inc4.625% 10/01/20270.2%
SCF Equipment Leasing 2019-2 LLC2.760% 08/20/20260.2%
CPS Auto Receivables Trust 2019-D2.540% 08/15/20240.2%
Glencore Funding LLC2.850% 04/27/20310.2%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.2%
TRTX 2019-FL3 Issuer Ltd2.215% 10/15/20340.2%
Santander Drive Auto Receivables Trust 2018-53.810% 12/16/20240.2%
World Financial Network Credit Card Master Trust3.460% 07/15/20250.2%
Tencent Holdings Ltd2.880% 04/22/20310.2%
HCA Inc4.500% 02/15/20270.2%
Scripps Escrow Inc5.875% 07/15/20270.2%
American Airlines Group Inc3.750% 03/01/20250.1%
Jamestown CLO VI-R Ltd1.326% 04/25/20300.1%
CommonSpirit Health3.347% 10/01/20290.1%
Chemours Co/The5.375% 05/15/20270.1%
Carvana Auto Receivables Trust 2020-P12.840% 09/08/20270.1%
Affinity Gaming6.875% 12/15/20270.1%
MHP Lux SA6.250% 09/19/20290.1%
Antofagasta PLC2.375% 10/14/20300.1%
Goodman US Finance Three LLC3.700% 03/15/20280.1%
Scientific Games International, Inc.7.250% 11/15/20290.1%
Zhenro Properties Group Ltd8.650% 01/21/20230.1%
Dominican Republic International Bond4.875% 09/23/20320.1%
CPS Auto Receivables Trust 2019-D2.350% 11/15/20230.1%
CF Trust 2019-MF12.650% 08/21/20320.1%
Citigroup Inc3.980% 03/20/20300.1%
Legacy LifePoint Health LLC4.375% 02/15/20270.1%
Vista Point Securitization Trust 2020-21.475% 04/25/20650.1%
Southwestern Energy Co7.750% 10/01/20270.1%
Suzano Austria GmbH3.750% 01/15/20310.1%
Cleveland-Cliffs Inc4.625% 03/01/20290.1%
Citigroup Commercial Mortgage Trust 2016-GC362.850% 02/10/20490.1%
COMM 2015-PC1 Mortgage Trust4.464% 07/10/20500.1%
Cikarang Listrindo Tbk PT4.950% 09/14/20260.1%
Morgan Stanley4.431% 01/23/20300.1%
JPMorgan Chase & Co4.600% 12/31/20990.1%
Oracle Corp2.875% 03/25/20310.1%
JD.com Inc3.375% 01/14/20300.1%
AI Candelaria Spain SLU7.500% 12/15/20280.1%
Carvana Auto Receivables Trust 2021-P12.160% 12/10/20270.1%
Seattle Children's Hospital2.719% 10/01/20500.1%
Barings CLO Ltd 2018-III3.088% 07/20/20290.1%
BBCMS 2019-BWAY Mortgage Trust1.725% 11/15/20340.1%
Global Payments Inc3.200% 08/15/20290.1%
Bank of America Corp2.687% 04/22/20320.1%
Globo Comunicacao e Participacoes SA4.875% 01/22/20300.1%
Prestige Auto Receivables Trust 2017-13.610% 10/16/20230.1%
Neuberger Berman Group LLC / Neuberger Berman Fina4.875% 04/15/20450.1%
American Airlines Inc11.750% 07/15/20250.1%
PFP 2019-6 Ltd2.216% 04/14/20370.1%
PetSmart Inc / PetSmart Finance Corp4.750% 02/15/20280.1%
Citigroup Inc2.561% 05/01/20320.1%
Westpac Banking Corp4.110% 07/24/20340.1%
Vertical US Newco Inc5.250% 07/15/20270.1%
Macquarie Group Ltd4.654% 03/27/20290.1%
Carnival Corp7.625% 03/01/20260.1%
Brazos Delaware II, LLC4.114% 05/21/20250.1%
Rent-A-Center Inc/TX6.375% 02/15/20290.1%
JP Morgan Chase Commercial Mortgage Securities Cor2.765% 09/15/20290.1%
CPS Auto Receivables Trust 2020-B4.750% 04/15/20260.1%
JP Morgan Chase Commercial Mortgage Securities Cor3.465% 09/15/20290.1%
Cleveland-Cliffs Inc5.875% 06/01/20270.1%
Wolverine Escrow LLC8.500% 11/15/20240.1%
JP Morgan Chase Commercial Mortgage Securities Cor4.465% 09/15/20290.1%
JP Morgan Chase Commercial Mortgage Securities Cor5.465% 09/15/20290.1%
Aviation Capital Group LLC1.950% 01/30/20260.1%
BBCMS 2019-BWAY Mortgage Trust1.071% 11/15/20340.1%
Macquarie Bank Ltd3.624% 06/03/20300.1%
Nordstrom Inc4.375% 04/01/20300.1%
California Resources Corp7.125% 02/01/20260.1%
Party City Holdings Inc8.750% 02/15/20260.1%
Clear Channel Outdoor Holdings Inc7.750% 04/15/20280.1%
Ovintiv Inc6.500% 02/01/20380.1%
Viking Cruises Ltd13.000% 05/15/20250.1%
Buckeye Partners LP6.375% 01/22/20780.1%
Tapestry Inc4.125% 07/15/20270.1%
L Brands Inc6.625% 10/01/20300.1%
Uber Technologies Inc8.000% 11/01/20260.1%
Continental Resources Inc/OK3.800% 06/01/20240.1%
Meituan3.050% 10/28/20300.1%
Learning Care Group (US) No. 2 Inc.4.250% 03/13/20250.1%
PG&E Corp5.000% 07/01/20280.1%
Kuehg Corp4.750% 02/14/20250.1%
Western Midstream Operating LP5.300% 02/01/20300.1%
Heartland Dental, LLC3.613% 04/30/20250.1%
CF Industries Inc4.950% 06/01/20430.1%
Ball Corp2.875% 08/15/20300.1%
Boeing Co/The5.150% 05/01/20300.1%
Penn National Gaming Inc5.625% 01/15/20270.1%
Apache Corp4.625% 11/15/20250.1%
Spring Education Group, Inc.4.453% 07/30/20250.1%
NCL Finance Ltd6.125% 03/15/20280.1%
Radiology Partners Inc9.250% 02/01/20280.1%
Cedar Fair LP5.250% 07/15/20290.1%
Park Intermediate Holdings LLC / PK Domestic Prope5.875% 10/01/20280.1%
Levi Strauss & Co3.500% 03/01/20310.1%
JP Morgan Chase Commercial Mortgage Securities Tru1.415% 06/15/20320.1%
Spirit Loyalty Cayman Ltd / Spirit IP Cayman Ltd8.000% 09/20/20250.1%
JBS USA LUX SA / JBS USA Food Co / JBS USA Finance6.500% 04/15/20290.1%
Tri Pointe Homes Inc5.250% 06/01/20270.1%
Forterra Finance LLC / FRTA Finance Corp6.500% 07/15/20250.1%
Liberty Utilities Finance GP 12.050% 09/15/20300.1%
Carvana Co5.875% 10/01/20280.1%
Playa Resorts Holding B.V.3.750% 04/29/20240.1%
Century Communities Inc6.750% 06/01/20270.1%
Diamondback Energy Inc4.750% 05/31/20250.1%
American Axle & Manufacturing Inc6.500% 04/01/20270.1%
NRG Energy Inc2.450% 12/02/20270.1%
Live Nation Entertainment Inc4.750% 10/15/20270.1%
Garda World Security Corp4.625% 02/15/20270.1%
DaVita Inc3.750% 02/15/20310.1%
Foursight Capital Automobile Receivables Trust 2013.530% 04/17/20230.1%
LogMeIn Inc5.500% 09/01/20270.1%
Encompass Health Corp4.500% 02/01/20280.1%
Royal Caribbean Cruises Ltd11.500% 06/01/20250.1%
Cvent, Inc.3.863% 11/29/20240.1%
CIT Group Inc6.125% 03/09/20280.1%
WP CPP Holdings, LLC0.000% 04/30/20250.1%
Signature Aviation US Holdings Inc4.000% 03/01/20280.1%
FAGE International SA / FAGE USA Dairy Industry In5.625% 08/15/20260.1%
Coca-Cola Femsa SAB de CV1.850% 09/01/20320.1%
Drive Auto Receivables Trust 2019-42.840% 11/17/20250.1%
NOV Inc3.600% 12/01/20290.1%
United Rentals North America Inc4.000% 07/15/20300.1%
Westlake Automobile Receivables Trust 2019-32.410% 10/15/20240.1%
Albertsons Cos Inc / Safeway Inc / New Albertsons4.875% 02/15/20300.1%
Netflix Inc4.875% 06/15/20300.1%
Delta Air Lines Inc / SkyMiles IP Ltd4.750% 10/20/20280.1%
J.P. Morgan Chase Commercial Mortgage Securities T3.392% 06/05/20320.1%
Innovative Chemical Products4.250% 12/01/20230.1%
Nationstar Mortgage Holdings Inc5.500% 08/15/20280.1%
NRG Energy Inc5.750% 01/15/20280.1%
Amern Trailer World Corp4.500% 02/17/20280.1%
Centene Corp3.375% 02/15/20300.1%
Sprint Capital Corp6.875% 11/15/20280.1%
CSC Holdings LLC5.500% 04/15/20270.1%
Quicken Loans LLC / Quicken Loans Co-Issuer Inc3.625% 03/01/20290.1%
Empresa Nacional del Petroleo3.750% 08/05/20260.1%
Verus Securitization Trust 2020-12.417% 01/25/20600.1%
Gap Inc/The8.625% 05/15/20250.1%
IRB Holding Corp7.000% 06/15/20250.1%
Murphy Oil Corp5.875% 12/01/20270.1%
HAT Holdings I LLC / HAT Holdings II LLC5.250% 07/15/20240.1%
Twilio Inc3.875% 03/15/20310.1%
FMG Resources August 2006 Pty Ltd4.375% 04/01/20310.1%
Hawaiian Brand Intellectual Property Ltd / Hawaiia5.750% 01/20/20260.1%
Nexstar Broadcasting Inc5.625% 07/15/20270.1%
Delta Air Lines Inc / SkyMiles IP Ltd4.500% 10/20/20250.1%
Tenneco Inc5.375% 12/15/20240.1%
Zayo Group Holdings Inc4.000% 03/01/20270.1%
Acadia Healthcare Co Inc5.000% 04/15/20290.1%
JP Morgan Chase Commercial Mortgage Securities Cor1.865% 09/15/20290.1%
United States Steel Corp6.875% 03/01/20290.1%
Frontier Communications Corp5.000% 05/01/20280.1%
Mohegan Gaming & Entertainment8.000% 02/01/20260.1%
Watco Cos LLC / Watco Finance Corp6.500% 06/15/20270.1%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.250% 05/15/20270.1%
DISH DBS Corp7.750% 07/01/20260.1%
Newell Brands Inc5.875% 04/01/20360.1%
TerraForm Power Operating LLC4.750% 01/15/20300.1%
M360 2019-CRE2 LLC2.365% 09/15/20340.1%
Yum! Brands Inc7.750% 04/01/20250.1%
Bayer Corp6.650% 02/15/20280.1%
CommScope Inc7.125% 07/01/20280.1%
City of San Antonio TX Airport System3.527% 07/01/20400.1%
Tesla Inc5.300% 08/15/20250.1%
Golden Entertainment, Inc.3.750% 10/21/20240.1%
Adient Global Holdings Ltd4.875% 08/15/20260.1%
Qatar Government International Bond5.103% 04/23/20480.1%
TransDigm Inc6.375% 06/15/20260.1%
Clarios Global LP / Clarios US Finance Co8.500% 05/15/20270.1%
Mountain View CLO 2017-1 LLC1.934% 10/16/20290.1%
ALM VII Ltd3.734% 07/15/20290.1%
KKR CLO 18 Ltd1.890% 07/18/20300.1%
Westlake Automobile Receivables Trust 2019-13.450% 03/15/20240.1%
Signal Peak CLO 2 LLC3.038% 04/20/20290.1%
Oaktree CLO 2014-11.484% 05/13/20290.1%
SK Hynix Inc2.375% 01/19/20310.1%
Med ParentCo LP4.363% 07/31/20260.1%
Cemig Geracao e Transmissao SA9.250% 12/05/20240.1%
Banco do Brasil SA/Cayman4.625% 01/15/20250.1%
Tenet Healthcare Corp6.250% 02/01/20270.1%
Westlake Automobile Receivables Trust 2019-32.150% 02/15/20230.1%
Drive Auto Receivables Trust 2017-A4.160% 05/15/20240.1%
Griffon Corp5.750% 03/01/20280.1%
CSAIL 2019-C18 Commercial Mortgage Trust3.321% 12/15/20520.1%
Equinix Inc1.550% 03/15/20280.1%
Stericycle Inc3.875% 01/15/20290.1%
Tronox Inc4.625% 03/15/20290.1%
Greenko Solar Mauritius Ltd5.950% 07/29/20260.1%
Temasek Financial I Ltd2.500% 10/06/20700.1%
Danske Bank A/S5.375% 01/12/20240.1%
VMware Inc3.900% 08/21/20270.1%
Michigan Finance Authority3.084% 12/01/20340.1%
CSMC 2020-AFC1 Trust2.240% 02/25/20500.1%
Foothill-Eastern Transportation Corridor Agency4.094% 01/15/20490.1%
Perusahaan Perseroan Persero PT Perusahaan Listrik4.125% 05/15/20270.1%
Surgery Center Holdings Inc10.000% 04/15/20270.1%
County of Miami-Dade FL2.786% 10/01/20370.1%
Kaisa Group Holdings Ltd11.950% 10/22/20220.1%
Advocate Health & Hospitals Corp3.387% 10/15/20490.1%
CSN Resources SA7.625% 02/13/20230.1%
Egypt Government International Bond4.550% 11/20/20230.1%
MHP Lux SA6.950% 04/03/20260.1%
Tengizchevroil Finance Co International Ltd3.250% 08/15/20300.1%
Sunac China Holdings Ltd5.950% 04/26/20240.1%
Kaisa Group Holdings Ltd9.375% 06/30/20240.1%
CF Trust 2019-BOSS4.750% 12/15/20210.1%
New Jersey Educational Facilities Authority3.636% 09/01/20290.1%
Wells Fargo Commercial Mortgage Trust 2017-HSDB0.961% 12/13/20310.1%
Ally Financial Inc4.700% 08/15/21990.1%
State of California7.625% 03/01/20400.1%
Turkey Government International Bond4.250% 04/14/20260.1%
Pennsylvania Electric Co3.600% 06/01/20290.1%
BB-UBS Trust 2012-SHOW3.430% 11/05/20360.1%
Turkey Government International Bond5.250% 03/13/20300.1%
Avis Budget Car Rental LLC / Avis Budget Finance,5.250% 03/15/20250.1%
Yuzhou Group Holdings Co Ltd6.000% 10/25/20230.1%
Hecla Mining Co7.250% 02/15/20280.1%
Hardee's Funding LLC5.710% 06/20/20480.1%
Assurant Inc3.700% 02/22/20300.1%
Hilcorp Energy I LP / Hilcorp Finance Co6.250% 11/01/20280.1%
Cheniere Corpus Christi Holdings LLC3.700% 11/15/20290.1%
SM Energy Co6.750% 09/15/20260.1%
Prima Capital CRE Securitization 2019-RK1 Ltd4.000% 04/15/20380.1%
Match Group Holdings II LLC5.625% 02/15/20290.1%
Boyd Gaming Corp4.750% 12/01/20270.1%
BAMLL Trust 2011-FSHN4.420% 07/11/20330.1%
MEG Energy Corp5.875% 02/01/20290.1%
CoStar Group Inc2.800% 07/15/20300.1%
Mattel Inc5.450% 11/01/20410.1%
BX Commercial Mortgage Trust 2019-XL1.565% 10/15/20360.1%
Wells Fargo Commercial Mortgage Trust 2017-C413.785% 11/15/20500.1%
Scientific Games International, Inc.8.250% 03/15/20260.1%
United Airlines Inc4.625% 04/15/20290.1%
Tenet Healthcare Corp6.750% 06/15/20230.1%
Deephaven Residential Mortgage Trust 2019-42.791% 10/25/20590.1%
Halcyon Loan Advisors Funding 2015-3 Ltd1.090% 10/18/20270.1%
PulteGroup Inc5.000% 01/15/20270.1%
GS Mortgage Securities Trust 2013-G13.557% 04/10/20310.1%
Apache Corp4.375% 10/15/20280.1%
TK Elevator Midco GmbH4.375% 07/15/20270.1%
Ellington Financial Mortgage Trust 2020-21.178% 10/25/20650.1%
First Investors Auto Owner Trust 2019-22.210% 09/16/20240.1%
Avolon Holdings Funding Ltd4.250% 04/15/20260.1%
Natixis Commercial Mortgage Securities Trust 2019-0.634% 10/15/20360.1%
SCF Equipment Leasing 2019-1 LLC3.920% 11/20/20260.1%
BX Commercial Mortgage Trust 2019-XL1.365% 10/15/20360.1%
Dell International LLC / EMC Corp.6.020% 06/15/20260.1%
Toll Brothers Finance Corp4.350% 02/15/20280.1%
Avid Automobile Receivables Trust 2019-12.620% 02/15/20240.1%
Deephaven Residential Mortgage Trust 2020-12.339% 01/25/20600.0%
SM Energy Co5.625% 06/01/20250.0%
Starwood Mortgage Residential Trust 2020-12.275% 02/25/20500.0%
Hilton Domestic Operating Co Inc4.875% 01/15/20300.0%
ENI SpA5.700% 10/01/20400.0%
Ford Credit Auto Owner Trust 2019-C1.880% 07/15/20220.0%
VMware Inc4.700% 05/15/20300.0%
Warrior Met Coal Inc8.000% 11/01/20240.0%
Amsted Industries Inc4.625% 05/15/20300.0%
State of California7.300% 10/01/20390.0%
Boyd Gaming Corp6.000% 08/15/20260.0%
GreatAmerica Leasing Receivables Funding LLC Serie3.210% 02/18/20250.0%
Westlake Automobile Receivables Trust 2019-13.260% 10/17/20220.0%
OneMain Financial Issuance Trust 2019-13.480% 02/14/20310.0%
Zayo Group Holdings Inc6.125% 03/01/20280.0%
Citigroup Commercial Mortgage Trust 2016-GC363.849% 02/10/20490.0%
OneMain Financial Issuance Trust 2018-23.570% 03/14/20330.0%
Planet Fitness Master Issuer LLC4.666% 09/05/20480.0%
First National Master Note Trust 2018-10.575% 10/15/20240.0%
NextGear Floorplan Master Owner Trust4.010% 10/15/20230.0%
ACC Trust 2019-14.470% 10/20/20220.0%
Prima Capital CRE Securitization 2019-RK1 Ltd4.450% 04/15/20380.0%
Exantas Capital Corp 2019-RSO7 Ltd1.614% 04/15/20360.0%
GS Mortgage Securities Corp Trust 2018-RIVR1.065% 07/15/20350.0%
BAMLL Commercial Mortgage Securities Trust 2019-AH1.715% 03/15/20340.0%
Longtrain Leasing III LLC 2015-14.060% 01/15/20450.0%
Commercial Mortgage Pass Through Certificates3.400% 10/05/20300.0%
West Town Mall Trust 2017-KNOX3.823% 07/05/20300.0%
Popular Inc6.125% 09/14/20230.0%
GCAT 2019-NQM2 Trust2.247% 01/25/20600.0%
BX Commercial Mortgage Trust 2019-XL1.915% 10/15/20360.0%
Eni USA Inc7.300% 11/15/20270.0%
BBCMS 2019-BWAY Mortgage Trust1.425% 11/15/20340.0%
BDS 2019-FL3 LTD1.508% 12/15/20350.0%
Live Nation Entertainment Inc3.750% 01/15/20280.0%
Angel Oak Mortgage Trust 2020-12.466% 12/25/20590.0%
Intertape Polymer Group Inc7.000% 10/15/20260.0%
British Airways 2020-1 Class A Pass Through Trust4.250% 11/15/20320.0%
CoreVest American Finance 2018-1 Trust3.804% 06/15/20510.0%
Mattel Inc6.750% 12/31/20250.0%
Ashland LLC6.875% 05/15/20430.0%
New Residential Mortgage Loan Trust 2020-NQM12.464% 01/26/20600.0%
SLM Student Loan Trust 2007-30.236% 01/25/20220.0%
Residential Mortgage Loan Trust 2020-12.376% 02/25/20240.0%
SCF Equipment Leasing 2019-1 LLC3.230% 10/20/20240.0%
BBCMS 2018-TALL Mortgage Trust2.552% 03/15/20370.0%
Med ParentCo LP4.363% 07/31/20260.0%
Westlake Automobile Receivables Trust 2019-23.200% 11/15/20240.0%
COMM 2015-PC1 Mortgage Trust4.290% 07/10/20500.0%
Wells Fargo Commercial Mortgage Trust4.230% 05/15/20480.0%
BX Trust 2018-GW0.915% 05/15/20350.0%
COMM 2014-UBS6 Mortgage Trust4.349% 12/10/20470.0%
COMM 2015-PC1 Mortgage Trust4.464% 07/10/20500.0%
RETL 2019-RVP2.215% 03/15/20360.0%
California Republic Auto Receivables Trust 2017-12.910% 12/15/20220.0%
CPS Auto Receivables Trust 2017-C3.790% 06/15/20230.0%
Natixis Commercial Mortgage Securities Trust 2018-3.917% 11/15/20320.0%
Natixis Commercial Mortgage Securities Trust 2018-3.917% 11/15/20320.0%
WFRBS Commercial Mortgage Trust4.456% 03/15/20480.0%
1345 Avenue of the Americas & Park Avenue Plaza Tr5.278% 08/10/20350.0%
WFRBS Commercial Mortgage Trust5.047% 08/15/20450.0%
Drive Auto Receivables Trust 2017-33.530% 12/15/20230.0%
Toll Brothers Finance Corp4.875% 03/15/20270.0%
GS Mortgage Securities Trust 2014-GC264.660% 11/10/20470.0%
Surgery Center Holdings Inc6.750% 07/01/20250.0%
Hasbro Inc3.550% 11/19/20260.0%
Exantas Capital Corp 2019-RSO7 Ltd1.114% 04/15/20360.0%
Charter Communications Operating LLC6.484% 10/23/20450.0%
JP Morgan Chase Commercial Mortgage Securities Tru1.715% 06/15/20320.0%
SG Commercial Mortgage Securities Trust 2019-787E0.456% 02/15/20410.0%
Hardee's Funding LLC4.959% 06/20/20480.0%
Orange Lake Timeshare Trust 2019-A3.060% 04/09/20380.0%
Motel 6 Trust 2017-MTL63.365% 08/15/20340.0%
WFRBS Commercial Mortgage Trust3.863% 03/15/20480.0%
JP Morgan Chase Commercial Mortgage Securities Tru1.361% 07/05/20330.0%
Ally Auto Receivables Trust 2019-41.930% 10/17/20220.0%
Pennsylvania Higher Education Assistance Agency0.446% 04/25/20380.0%
Carmax Auto Owner Trust 2019-32.210% 12/15/20220.0%
Neuberger Berman Group LLC / Neuberger Berman Fina4.500% 03/15/20270.0%
Diamond Resorts Owner Trust4.110% 10/22/20290.0%
GS Mortgage Securities Corp Trust 2019-70P0.500% 10/15/20360.0%
Capital One Prime Auto Receivables Trust 2019-22.060% 09/15/20220.0%
Hyundai Auto Receivables Trust 2019-B1.930% 07/15/20220.0%
E*TRADE Financial Corp4.500% 06/20/20280.0%
Drive Auto Receivables Trust 2017-13.840% 03/15/20230.0%
Citigroup Commercial Mortgage Trust 2016-P32.804% 04/15/20490.0%
AmeriCredit Automobile Receivables Trust 2019-32.170% 01/18/20230.0%
BAT Capital Corp3.557% 08/15/20270.0%
JP Morgan Chase Commercial Mortgage Securities Tru3.931% 06/10/20270.0%
Bank of America Corp3.970% 03/05/20290.0%
ReadyCap Commercial Mortgage Trust 2018-43.390% 02/27/20510.0%
First Investors Auto Owner Trust 2019-12.890% 03/15/20240.0%
Brightsphere Investment Group Inc4.800% 07/27/20260.0%
JP Morgan Chase Commercial Mortgage Securities Tru4.549% 07/05/20330.0%
JP Morgan Chase Commercial Mortgage Securities Tru4.950% 07/05/20330.0%
JPMBB Commercial Mortgage Securities Trust4.409% 07/15/20480.0%
COMM 2015-PC1 Mortgage Trust4.464% 07/10/20500.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr2.020% 11/15/20350.0%
Government National Mortgage Association2.650% 11/16/20500.0%
JP Morgan Chase Commercial Mortgage Securities Tru1.061% 07/05/20330.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr2.350% 11/15/20350.0%
Time Warner Entertainment Co LP8.375% 07/15/20330.0%
GM Financial Automobile Leasing Trust 2019-22.670% 03/21/20220.0%
AmeriCredit Automobile Receivables Trust 2017-22.970% 03/20/20230.0%
Dell International LLC / EMC Corp.5.450% 06/15/20230.0%
World Omni Auto Receivables Trust 2017-A1.930% 09/15/20220.0%
JP Morgan Chase Commercial Mortgage Securities Tru2.829% 10/15/20450.0%
Orange Lake Timeshare Trust 2015-A2.880% 09/08/20270.0%
FX CAD/USD 07/210.000% 07/20/20210.0%
FX USD/EUR 06/210.000% 06/04/20210.0%
GS Mortgage Securities Corp Trust 2019-SMP0.000% 08/15/20320.0%
US 10YR NOTE (CBT)JUN210.000% 06/30/20210.0%
US ULTRA BOND CBT JUN210.000% 06/30/20210.0%
US 10YR ULTRA FUT JUN210.000% 06/30/20210.0%
US LONG BOND(CBT) JUN210.000% 06/30/20210.0%
US 2YR NOTE (CBT) JUN210.000% 07/06/20210.0%
FX USD/CAD 07/210.000% 07/20/20210.0%
FX USD/CAD 07/210.000% 07/20/20210.0%
Credit Index Swap1.000% 06/20/20260.0%
Credit Index Swap1.000% 06/20/20260.0%

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.

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Fund Documents

Fund Documents

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Portfolio Holdings 1Q
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Semi-Annual Report
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*Barron’s Overall Fund Family of 2020,” #7 overall ranking among 53 qualifying fund families based on the net total return of the one-year period ending 12/31/2020. Five-year overall ranking is #4 out of 50 qualifying fund families; and 10-year overall ranking is #21 out of 44 qualifying fund families.

Source: Barron’s, “Barron’s Best Fund Families of 2020,” February 20, 2021. Barron’s rankings are based on asset weighted returns in funds in five categories: general equity, world equity (including international and global portfolios), mixed asset (which invest in stocks, bonds and other securities), taxable bond, and tax-exempt (each a "Barron's ranking category"). Rankings also take into account an individual fund's performance within its Lipper peer universe. Lipper calculated each fund's net total return for the year ended December 31, 2020, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer "universe," as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2020 weighting of their Barron's ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron's ranking category. The process is repeated for the five- and ten-year rankings as well.

Barron's Fund Family Rankings are awarded annually.

To qualify for the ranking, firms must offer at least three active mutual funds or actively run ETFs in Lipper’s general U.S. stock category; one in world equity; and one mixed asset, such as a balanced or allocation fund. They also need to offer at least two taxable bond funds and one national tax-exempt bond fund. All funds must have a track record of at least one year. While the ranking excludes index funds, it does include actively managed ETFs and “smart beta” ETFs, which are run passively but built on active investment strategies.

© Refinitiv Lipper 2021. All Rights Reserved. Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. Lipper provides global, independent fund performance data. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

+

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.

 

5

The 30-day Standardized Subsidized yield reflects fee waivers in effect. Without such fee waivers, yields would be reduced.  

 

6

The 30-day Standardized Unsubsidized yield does not reflect fee waivers.

 

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.

 

 

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

 

Class R2 - The performance quotations for Class R2 reflect the following methods of calculation: (a) for periods prior to the inception date for Class R2, a restated figure is used based on the Fund's Class A performance, excluding the effect of Class A's maximum sales charge (which does not apply to Class R2) adjusted to reflect the Rule 12b-1 rate differential between Class A and Class R2, which has a higher 12b-1 fee than Class A; and (b) for periods after the inception date for Class R2, actual Class R2 performance is used reflecting all charges and fees applicable to Class R2 shares. Hypothetical performance data for Class R2, as measured from since inception of the Fund using the methodology described above, is not available if the Class A inception date is equal or greater than ten years old. Please refer to the Class R2 performance information for the inception date for Class R2. Please refer to the Class A performance information for the inception date for Class A.

Class R2 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.

 

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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