LAPQX | Core Plus Bond Fund Class R3 | Lord Abbett

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Core Plus Bond Fund

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Daily price w/o sales charge as of 09/26/2023

$12.32

arrowDown$0.03

YTD Returns w/o sales charge as of 09/26/2023

-0.01%

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

Average Yield to Maturity as of 08/31/2023

6.10%

30-Day Standardized Yield 1 as of 08/31/2023  

  Subsidized2 Un-Subsidized3
w/o sales charge 5.00% 4.99%

Yield to maturity (YTM) represents the expected total return on a bond (expressed as an annualized rate) based on the bond’s expected future cash flows, including coupon payments over the life of the bond and the bond’s principal value received at maturity.

Fund Basicsas of 08/31/2023

Total Net Assets
$1.46 B
Inception Date
12/08/2015
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.99%
Fund Net Expense Ratio
0.98%
Number of Holdings
608

Fund Expense Ratio :

Gross 0.99%

Net 0.98%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 2.30% -0.56% -3.45% 0.56% - 1.38%
Lipper Category Avg. Core Plus Bond Funds 1.79% -1.01% -3.97% 0.75% - -
Bloomberg U.S. Aggregate Bond Index 1.37% -1.19% -4.41% 0.49% - 0.95%
w/ sales charge 2.30% -0.56% -3.45% 0.56% - 1.38%

Fund Expense Ratio :

Gross 0.99%

Net 0.98%

Fund Expense Ratio :

Gross 0.99%

Net 0.98%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 2.44% -0.19% -2.54% 0.74% - 1.43%
Lipper Category Avg. Core Plus Bond Funds 2.32% -0.38% -3.23% 1.02% - -
Bloomberg U.S. Aggregate Bond Index 2.09% -0.94% -3.96% 0.77% - 1.06%

Fund Expense Ratio :

Gross 0.99%

Net 0.98%

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

Type Assets
Investment Grade Corporate
MBS
High Yield Corporate
U.S. Government Related
ABS
CMBS
CLO
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
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

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

Credit Quality Distribution as of 08/31/2023 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

29 Years of Industry Experience

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

Partner & Portfolio Manager

25 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

22 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

32 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Partner, Portfolio Manager

15 Years of Industry Experience

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

Partner & Portfolio Manager

22 Years of Industry Experience

Harris Trifon
Harris Trifon

Managing Director, Portfolio Manager

23 Years of Industry Experience

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

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Performance

Performance

Average Yield to Maturity as of 08/31/2023

6.10%

30-Day Standardized Yield 1 as of 08/31/2023  

  Subsidized2 Un-Subsidized3
w/o sales charge 5.00% 4.99%

Fund Expense Ratio :

Gross 0.99%

Net 0.98%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 2.30% -0.56% -3.45% 0.56% - 1.38%
Lipper Category Avg. Core Plus Bond Funds 1.79% -1.01% -3.97% 0.75% - -
Bloomberg U.S. Aggregate Bond Index 1.37% -1.19% -4.41% 0.49% - 0.95%
w/ sales charge 2.30% -0.56% -3.45% 0.56% - 1.38%

Fund Expense Ratio :

Gross 0.99%

Net 0.98%

Fund Expense Ratio :

Gross 0.99%

Net 0.98%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 2.44% -0.19% -2.54% 0.74% - 1.43%
Lipper Category Avg. Core Plus Bond Funds 2.32% -0.38% -3.23% 1.02% - -
Bloomberg U.S. Aggregate Bond Index 2.09% -0.94% -3.96% 0.77% - 1.06%

Fund Expense Ratio :

Gross 0.99%

Net 0.98%

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

Portfolio

Portfolio

Rating Assets
Investment Grade Corporate
MBS
High Yield Corporate
U.S. Government Related
ABS
CMBS
CLO
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
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

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

Credit Quality Distribution as of 08/31/2023

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 3/31/2023

  • During the quarter we maintained the Strategy’s overall up-in-quality and up-in-liquidity positioning and remained down in cyclicality and complexity.

  •       Over the quarter, the portfolio predominantly benefitted from an overweight allocation as well as positive security selection within investment grade corporate bonds. Specifically, the Strategy’s conservative positioning, including an underweight to smaller regional banks and an overweight to insurance companies and large money centers drove positive performance relative to the benchmark. The portfolio’s bank holdings are generally issued by institutions with strong deposit franchises, robust credit cultures, and strong management teams. We continued to reduce lower quality corporate bonds and increase the investment grade corporate allocation over the period. We added to Healthcare and Financials at what we believe to be attractive levels following the banking turmoil.

    ·    An allocation to securitized credit – specifically CMBS, ABS, and CLO – had a positive impact on relative returns. High quality securitized credit outperformed both investment grade corporate bonds and government-related securities as the asset class provides superior risk-adjusted yields at the top of the credit stack.

    ·   Despite headline risk, the portfolio’s allocation to high-quality AAA-rated CMBS contributed as certain property types rebounded from challenged performance in the fourth quarter of last year, including hotel backed SASB deals and multi-family CRE CLO, both of which are overweight positions within the portfolio’s CMBS book. That said, we continued to reduce the portfolio’s exposure to CMBS over the quarter as we have been over the last few quarters. Sales were focused on hospitality and office backed SASB deals. We’ve maintained a very high bar to add with a preference for high quality, liquid names and the portfolio’s exposure remains low relative to this time last year.

    ·      Another contributor to performance was the portfolio’s allocation to short-term, AAA-rated ABS as the asset class outperformed the broader index and corporate credit. Within the sector, we have identified issues that demonstrate robust credit fundamentals, including well behaved delinquency/loss trends, consistent collateral quality, and strong stress tested structures. We are particularly constructive on auto-loans and have predominantly allocated to this subsector within the broader ABS allocation.

    ·     The portfolio’s modest allocation to CLO also contributed to relative returns given the attractive carry profile of the sector. While we’re comfortable with the credit profile of the portfolio’s CLO holdings, we decreased exposure over the quarter, as we monetized attractive valuations and continue to shift to a highly liquid portfolio profile and are very selective with respect to spread targets when adding.

    ·    Duration positioning was a meaningful detractor from performance over the quarter. Being underweight duration versus the benchmark detracted as the 5-year and 10-year U.S. Treasury rates rallied during the period. Our preference is to underweight the belly of the curve (5s and 10s) and overweight the wings (2s and 30s). 

    ·     We added TIPS to the portfolio over the quarter. This addition was made to express the team’s view that the market may be underestimating the potential for higher inflation for longer.

 

Portfolio Details as of 08/31/2023

Total Net Assets
$1.46 B
Average Effective Duration
5.85 Years
Average Life
7.55 Years
Average Maturity
7.55 Years
Average Modified Duration
6.65 Years
Number of Issues
608
Average Yield to Maturity
6.10%

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

Yield to maturity (YTM) represents the expected total return on a bond (expressed as an annualized rate) based on the bond’s expected future cash flows, including coupon payments over the life of the bond and the bond’s principal value received at maturity.

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

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 4.375% 08/15/2043 3.2%
30-YR GNMA II-TBA PROD SEP 5.500% 06/01/2053 2.8%
30-YR GNMA II-TBA PROD OCT 6.000% 07/01/2053 2.5%
30-YR GNMA II-TBA PROD SEP 5.000% 06/01/2053 2.3%
United States Treasury Note/Bond 5.000% 08/31/2025 1.9%
United States Treasury Note/Bond 3.625% 05/15/2053 1.8%
United States Treasury Bill 0.000% 12/05/2023 1.5%
United States Treasury Note/Bond 1.125% 08/15/2040 1.4%
30-YR UMBS-TBA PROD OCT 5.000% 04/01/2053 1.3%
30-YR GNMA II-TBA PROD OCT 3.000% 02/01/2052 1.0%
% of Total Assets 19.7%
Holding Coupon Maturity Assets
United States Treasury Note/Bond3.875% 05/15/20435.4%
30-YR GNMA II-TBA PROD SEP6.000% 11/01/20523.0%
30-YR GNMA II-TBA PROD SEP5.500% 03/01/20532.6%
30-YR GNMA II-TBA PROD SEP5.000% 03/01/20532.3%
United States Treasury Note/Bond3.625% 05/15/20531.9%
United States Treasury Bill0.000% 11/24/20231.1%
30-YR UMBS-TBA PROD SEP5.500% 04/01/20531.1%
30-YR GNMA II-TBA PROD SEP3.000% 01/01/20521.0%
Province of Quebec Canada3.625% 04/13/20280.9%
UBS Group AG5.711% 01/12/20270.9%
30-YR GNMA II-TBA PROD SEP6.500% 11/01/20520.8%
30-YR UMBS-TBA PROD SEP5.000% 04/01/20530.8%
United States Treasury Note/Bond4.625% 06/30/20250.8%
Avolon Holdings Funding Ltd4.250% 04/15/20260.8%
Morgan Stanley4.431% 01/23/20300.8%
United States Treasury Note/Bond3.375% 05/15/20330.7%
30-YR UMBS-TBA PROD SEP3.000% 10/01/20510.7%
Continental Resources Inc/OK5.750% 01/15/20310.6%
Svensk Exportkredit AB4.125% 06/14/20280.6%
15-YR UMBS-TBA PROD SEP5.500% 01/01/20380.6%
15-YR UMBS-TBA PROD SEP5.000% 01/01/20380.6%
T-Mobile USA Inc3.875% 04/15/20300.6%
30-YR UMBS-TBA PROD SEP6.000% 12/01/20520.6%
CDP Financial Inc4.250% 07/25/20280.5%
30-YR UMBS-TBA PROD SEP6.500% 01/01/20530.5%
Centene Corp3.375% 02/15/20300.5%
30-YR UMBS-TBA PROD SEP2.500% 10/01/20510.5%
EQT Corp7.000% 02/01/20300.5%
JPMorgan Chase & Co2.963% 01/25/20330.5%
JPMorgan Chase & Co2.739% 10/15/20300.5%
AT&T Inc4.300% 02/15/20300.5%
30-YR GNMA II-TBA PROD AUG5.000% 03/01/20530.4%
IPALCO Enterprises Inc4.250% 05/01/20300.4%
Jacobs Engineering Group Inc5.900% 03/01/20330.4%
Freddie Mac STACR REMIC Trust 2022-HQA37.369% 08/25/20420.4%
30-YR UMBS-TBA PROD AUG4.000% 03/01/20530.4%
Bacardi Ltd / Bacardi-Martini BV5.400% 06/15/20330.4%
MF1 2022-FL9 LLC7.396% 06/19/20370.4%
Citigroup Inc6.174% 05/25/20340.4%
Fannie Mae Pool3.500% 04/01/20520.4%
BAT Capital Corp3.222% 08/15/20240.4%
Constellation Energy Generation LLC5.800% 03/01/20330.4%
Goldman Sachs Group Inc/The2.383% 07/21/20320.4%
Avolon Holdings Funding Ltd5.250% 05/15/20240.4%
Sprint Capital Corp8.750% 03/15/20320.4%
CVS Health Corp3.250% 08/15/20290.4%
Duke Energy Corp4.500% 08/15/20320.4%
Amgen Inc5.250% 03/02/20300.4%
NatWest Group PLC4.269% 03/22/20250.4%
AbbVie Inc3.200% 11/21/20290.4%
Humana Inc5.875% 03/01/20330.4%
Pfizer Investment Enterprises Pte Ltd4.750% 05/19/20330.4%
Bank of America Corp2.087% 06/14/20290.4%
Bank of America Corp3.970% 03/05/20290.4%
Capital One Multi-Asset Execution Trust6.120% 05/15/20280.4%
nVent Finance Sarl4.550% 04/15/20280.4%
Danske Bank A/S3.773% 03/28/20250.4%
Citigroup Inc3.980% 03/20/20300.4%
Electricite de France SA6.250% 05/23/20330.4%
Jackson National Life Global Funding5.500% 01/09/20260.4%
Nissan Motor Acceptance Co LLC1.125% 09/16/20240.4%
Regal Rexnord Corp6.050% 02/15/20260.4%
Macquarie Group Ltd4.654% 03/27/20290.4%
Wells Fargo & Co5.389% 04/24/20340.4%
NatWest Group PLC5.808% 09/13/20290.4%
Bank of America Corp2.687% 04/22/20320.4%
Intesa Sanpaolo SpA6.625% 06/20/20330.4%
Freddie Mac Pool2.500% 07/01/20510.4%
GE HealthCare Technologies Inc5.650% 11/15/20270.3%
Svensk Exportkredit AB4.625% 11/28/20250.3%
Oracle Corp6.250% 11/09/20320.3%
JP Morgan Mortgage Trust 2021-42.500% 08/25/20510.3%
Morgan Stanley2.239% 07/21/20320.3%
Connecticut Avenue Securities Trust 2023-R047.369% 05/25/20430.3%
American Tower Corp3.800% 08/15/20290.3%
L3Harris Technologies Inc5.400% 07/31/20330.3%
Cigna Group/The2.400% 03/15/20300.3%
Bayer US Finance II LLC4.250% 12/15/20250.3%
BANK 2022-BNK445.746% 11/15/20550.3%
Southern Co/The2.700% 08/01/20240.3%
Arbor Realty Commercial Real Estate Notes 2022-FL2 Ltd7.072% 05/15/20370.3%
Angel Oak Mortgage Trust 2023-34.800% 09/26/20670.3%
Arbor Realty Commercial Real Estate Notes 2022-FL1 Ltd6.518% 01/15/20370.3%
GA Global Funding Trust3.850% 04/11/20250.3%
UBS Group AG1.494% 08/10/20270.3%
Santander Drive Auto Receivables Trust 2022-64.960% 11/15/20280.3%
Discover Card Execution Note Trust3.560% 07/15/20270.3%
Carvana Auto Receivables Trust 2020-NP15.200% 07/15/20270.3%
International Flavors & Fragrances Inc1.230% 10/01/20250.3%
Japan Bank for International Cooperation4.625% 07/19/20280.3%
HCA Inc5.500% 06/01/20330.3%
COMM 2014-UBS6 Mortgage Trust3.644% 12/10/20470.3%
Diamondback Energy Inc3.500% 12/01/20290.3%
Mexico Government International Bond4.875% 05/19/20330.3%
Crown Castle Inc3.300% 07/01/20300.3%
Panama Government International Bond2.252% 09/29/20320.3%
National Grid PLC5.809% 06/12/20330.3%
Warnermedia Holdings Inc3.428% 03/15/20240.3%
Amazon.com Inc4.700% 12/01/20320.3%
Palomino Funding Trust I7.233% 05/17/20280.3%
Goldman Sachs Group Inc/The3.272% 09/29/20250.3%
Flagstar Mortgage Trust 2021-42.500% 06/01/20510.3%
SEB Funding LLC4.969% 01/30/20520.3%
Aviation Capital Group LLC5.500% 12/15/20240.3%
Indianapolis Power & Light Co5.650% 12/01/20320.3%
Citigroup Inc3.887% 01/10/20280.3%
Connecticut Avenue Securities Trust 2023-R037.569% 04/25/20430.3%
BNP Paribas SA2.219% 06/09/20260.3%
Intercontinental Exchange Inc4.000% 09/15/20270.3%
MSCI Inc3.625% 11/01/20310.3%
CarMax Auto Owner Trust 2023-15.190% 01/16/20290.3%
LPL Holdings Inc4.000% 03/15/20290.3%
30-YR GNMA II-TBA PROD SEP4.500% 03/01/20530.3%
30-YR UMBS-TBA PROD SEP4.500% 04/01/20530.3%
Octane Receivables Trust 2022-25.850% 07/20/20280.3%
Leidos Inc5.750% 03/15/20330.3%
BMW Vehicle Lease Trust 2023-15.070% 06/25/20260.3%
United States Treasury Note/Bond2.250% 05/15/20410.3%
Metropolitan Life Global Funding I5.150% 03/28/20330.3%
Bank of America Corp3.593% 07/21/20280.3%
Madison Park Funding XI Ltd6.507% 07/23/20290.3%
UBS Group AG6.442% 08/11/20280.3%
Galaxy Pipeline Assets Bidco Ltd3.250% 09/30/20400.3%
CenterPoint Energy Resources Corp1.750% 10/01/20300.3%
Trimble Inc6.100% 03/15/20330.3%
Carmax Auto Owner Trust 2023-36.440% 12/16/20300.3%
Philip Morris International Inc5.625% 11/17/20290.3%
New York Life Global Funding4.550% 01/28/20330.3%
Avant Loans Funding Trust 2022-REV16.540% 09/15/20310.3%
NiSource Inc2.950% 09/01/20290.3%
Lowe's Cos Inc5.000% 04/15/20330.3%
Flagship Credit Auto Trust 2022-34.550% 04/15/20270.3%
Ford Credit Auto Owner Trust 2018-REV13.190% 07/15/20310.3%
Petroleos Mexicanos6.700% 02/16/20320.3%
CarMax Auto Owner Trust 2023-16.270% 11/15/20290.2%
Toronto-Dominion Bank/The4.456% 06/08/20320.2%
GM Financial Automobile Leasing Trust 2023-15.510% 01/20/20270.2%
NGPL PipeCo LLC4.875% 08/15/20270.2%
30-YR GNMA II-TBA PROD AUG6.500% 11/01/20520.2%
GM Financial Automobile Leasing Trust 2023-25.540% 05/20/20270.2%
Santander Drive Auto Receivables Trust 2022-45.000% 11/15/20290.2%
30-YR GNMA II-TBA PROD AUG4.500% 03/01/20530.2%
Fannie Mae Pool2.500% 09/01/20510.2%
Oklahoma Gas and Electric Co5.400% 01/15/20330.2%
JPMorgan Chase & Co2.580% 04/22/20320.2%
Ready Capital Mortgage Financing 2023-FL12 LLC7.633% 05/25/20380.2%
American Transmission Systems Inc2.650% 01/15/20320.2%
BHMS 2018-ATLS6.519% 07/15/20350.2%
Charter Communications Operating LLC7.067% 04/30/20250.2%
Voya Clo 2017-4 Ltd6.700% 10/15/20300.2%
BA Credit Card Trust5.000% 04/15/20280.2%
Benefit Street Partners CLO XVII Ltd6.650% 07/15/20320.2%
Aviation Capital Group LLC6.375% 07/15/20300.2%
Workday Inc3.800% 04/01/20320.2%
Westlake Automobile Receivables Trust 2023-15.210% 01/18/20280.2%
Ford Motor Credit Co LLC7.350% 11/04/20270.2%
Affirm Asset Securitization Trust 2023-A6.610% 01/18/20280.2%
Minejesa Capital BV4.625% 08/10/20300.2%
ME Funding LLC 2019-16.448% 07/30/20490.2%
Citizens Bank NA/Providence RI4.119% 05/23/20250.2%
EIG Pearl Holdings Sarl3.545% 08/31/20360.2%
Ovintiv Inc6.500% 02/01/20380.2%
JP Morgan Mortgage Trust 2021-102.500% 12/25/20510.2%
Corp Nacional del Cobre de Chile5.125% 02/02/20330.2%
Duke Energy Indiana LLC5.400% 04/01/20530.2%
Prosus NV3.257% 01/19/20270.2%
Netflix Inc5.875% 11/15/20280.2%
Ballyrock CLO 23 Ltd7.331% 04/25/20360.2%
Flagship Credit Auto Trust 2022-46.320% 06/15/20270.2%
UBS AG5.125% 05/15/20240.2%
American Tower Corp5.550% 07/15/20330.2%
Connecticut Avenue Securities Trust 2023-R027.369% 01/25/20430.2%
Hilton Worldwide Finance LLC7.148% 06/22/20260.2%
Oracle Corp2.875% 03/25/20310.2%
Huntington Bancshares Inc/OH2.625% 08/06/20240.2%
Flagship Credit Auto Trust 2023-210.890% 07/15/20300.2%
FactSet Research Systems Inc3.450% 03/01/20320.2%
Bank of New York Mellon Corp/The4.967% 04/26/20340.2%
Patterson-UTI Energy Inc5.150% 11/15/20290.2%
Viterra Finance BV4.900% 04/21/20270.2%
EFMT 2023-15.732% 02/25/20680.2%
CenterPoint Energy Resources Corp5.400% 03/01/20330.2%
NRG Energy Inc4.450% 06/15/20290.2%
Lloyds Banking Group PLC3.900% 03/12/20240.2%
Booz Allen Hamilton Inc3.875% 09/01/20280.2%
National Fuel Gas Co3.950% 09/15/20270.2%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust1.750% 10/29/20240.2%
CVS Health Corp5.050% 03/25/20480.2%
Flagship Credit Auto Trust 2023-15.010% 08/16/20270.2%
Bahrain Government International Bond6.750% 09/20/20290.2%
OCP Clo 2019-17 Ltd6.628% 07/20/20320.2%
Apidos CLO XXIV6.538% 10/20/20300.2%
Vermilion Energy Inc6.875% 05/01/20300.2%
Cargill Inc4.000% 06/22/20320.2%
Galaxy Xxviii Clo Ltd6.870% 07/15/20310.2%
Aircastle Ltd2.850% 01/26/20280.2%
Bank of America Corp3.458% 03/15/20250.2%
Netflix Inc6.375% 05/15/20290.2%
Venture Global LNG Inc8.375% 06/01/20310.2%
Costa Rica Government International Bond6.550% 04/03/20340.2%
Fortress Transportation and Infrastructure Investors LLC5.500% 05/01/20280.2%
NatWest Group PLC7.472% 11/10/20260.2%
Freddie Mac STACR REMIC Trust 2022-HQA18.569% 03/25/20420.2%
OQ SAOC5.125% 05/06/20280.2%
Constellation Brands Inc3.150% 08/01/20290.2%
Wells Fargo & Co2.393% 06/02/20280.2%
Rain CII Carbon LLC / CII Carbon Corp7.250% 04/01/20250.2%
Bombardier Inc6.000% 02/15/20280.2%
Lending Funding Trust 2020-22.320% 04/21/20310.2%
Talen Energy Supply LLC8.625% 06/01/20300.2%
BARCLAYS CAPITAL0.010% 08/01/20230.2%
Constellation Energy Generation LLC6.250% 10/01/20390.2%
Santander Consumer Auto Receivables Trust 2020-B7.030% 08/15/20280.2%
Humana Inc1.350% 02/03/20270.2%
First-Citizens Bank & Trust Co2.969% 09/27/20250.2%
Frontier Communications Holdings LLC5.000% 05/01/20280.2%
THL Credit Wind River 2013-2 CLO Ltd6.572% 10/18/20300.2%
Sasol Financing USA LLC8.750% 05/03/20290.2%
Pactiv Evergreen Group Issuer LLC / Pactiv Evergreen Group Issuer Inc4.375% 10/15/20280.2%
Connecticut Avenue Securities Trust 2022-R087.619% 07/25/20420.2%
Freddie Mac Structured Agency Credit Risk Debt Notes8.319% 04/25/20430.2%
Calpine Corp5.125% 03/15/20280.2%
GS Mortgage Securities Corp Trust 2023-FUN7.313% 03/15/20280.2%
M&T Bank Corp5.053% 01/27/20340.2%
Adani Ports & Special Economic Zone Ltd4.000% 07/30/20270.2%
Freddie Mac Multifamily Structured Pass Through Certificates3.123% 08/25/20320.2%
BAT CAPITAL CORP6.343% 08/02/20300.2%
Freddie Mac Multifamily Structured Pass Through Certificates2.580% 05/25/20320.2%
East Ohio Gas Co/The1.300% 06/15/20250.2%
Entergy Corp0.900% 09/15/20250.2%
Crown Castle Inc2.100% 04/01/20310.2%
BMO 2023-C5 Mortgage Trust5.494% 06/15/20560.2%
Sprint Capital Corp6.875% 11/15/20280.2%
United States Treasury Note/Bond4.000% 06/30/20280.2%
US Bancorp4.839% 02/01/20340.2%
Connecticut Avenue Securities Trust 2023-R017.469% 12/25/20420.2%
Elevance Health Inc5.500% 10/15/20320.2%
Centene Corp2.450% 07/15/20280.2%
Cloud Software Group Inc6.500% 03/31/20290.2%
Elevance Health Inc2.250% 05/15/20300.2%
Haleon US Capital LLC3.625% 03/24/20320.2%
HSBC Holdings PLC3.803% 03/11/20250.2%
BX Commercial Mortgage Trust 2021-XL26.025% 10/15/20380.2%
State Street Corp4.164% 08/04/20330.2%
30-YR GNMA II-TBA PROD SEP4.000% 08/01/20520.2%
Glencore Funding LLC4.875% 03/12/20290.2%
Wells Fargo & Co5.574% 07/25/20290.2%
American Express Co4.420% 08/03/20330.2%
Wells Fargo & Co2.188% 04/30/20260.2%
Antero Resources Corp5.375% 03/01/20300.2%
Madison Park Funding LIX Ltd6.712% 01/18/20340.2%
Freddie Mac Pool5.000% 08/01/20520.2%
BX Commercial Mortgage Trust 2021-ACNT6.186% 11/15/20380.2%
Broadcom Inc4.150% 04/15/20320.2%
NOV Inc3.600% 12/01/20290.2%
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara3.000% 06/30/20300.2%
MTN Commercial Mortgage Trust 2022-LPFL6.619% 03/15/20390.2%
Senegal Government International Bond6.250% 05/23/20330.2%
Connecticut Avenue Securities Trust 2022-R067.819% 05/25/20420.2%
Wells Fargo & Co3.350% 03/02/20330.2%
FMG Resources August 2006 Pty Ltd4.375% 04/01/20310.2%
BARCLAYS CAPITAL0.010% 08/01/20230.2%
ACRES Commercial Realty 2021-FL2 Ltd6.736% 01/15/20370.2%
Freddie Mac Pool4.500% 08/01/20520.2%
Bain Capital Credit CLO 2021-1 Ltd6.632% 04/18/20340.2%
HEICO Corp5.350% 08/01/20330.2%
Fannie Mae Pool2.500% 06/01/20510.1%
COMM 2014-CCRE17 Mortgage Trust4.174% 05/10/20470.1%
Deephaven Residential Mortgage Trust 2021-31.194% 08/25/20660.1%
Citigroup Mortgage Loan Trust 2022-INV13.000% 11/27/20510.1%
Smyrna Ready Mix Concrete LLC6.000% 11/01/20280.1%
Hecla Mining Co7.250% 02/15/20280.1%
SCF Equipment Leasing 2021-1 LLC3.560% 08/20/20320.1%
Apidos CLO XII6.970% 04/15/20310.1%
VistaJet Malta Finance PLC / Vista Management Holding Inc7.875% 05/01/20270.1%
Carlyle Global Market Strategies CLO 2014-3-R Ltd6.669% 07/27/20310.1%
Fannie Mae Pool5.000% 08/01/20520.1%
Oglethorpe Power Corp5.950% 11/01/20390.1%
Catalent Pharma Solutions Inc5.000% 07/15/20270.1%
US 10yr Ultra Fut Sep230.000% 09/29/20230.1%
BlueMountain CLO XXXI Ltd6.732% 04/19/20340.1%
Southwest Gas Corp4.050% 03/15/20320.1%
Signal Peak CLO 8 Ltd6.858% 04/20/20330.1%
Ares XLII Clo Ltd7.107% 01/22/20280.1%
Exeter Automobile Receivables Trust 2022-34.860% 12/15/20260.1%
Connecticut Avenue Securities Trust 2023-R048.619% 05/25/20430.1%
DaVita Inc4.625% 06/01/20300.1%
Trust Fibra Uno5.250% 01/30/20260.1%
Sabine Pass Liquefaction LLC5.625% 03/01/20250.1%
Affirm Asset Securitization Trust 2022-A4.300% 05/17/20270.1%
Garda World Security Corp7.750% 02/15/20280.1%
Crescent Energy Finance LLC9.250% 02/15/20280.1%
Royal Caribbean Cruises Ltd5.375% 07/15/20270.1%
Connecticut Avenue Securities Trust 2022-R056.969% 04/25/20420.1%
OCP SA3.750% 06/23/20310.1%
Emerald Debt Merger Sub LLC6.625% 12/15/20300.1%
COMM 2015-LC21 Mortgage Trust4.043% 07/10/20480.1%
Occidental Petroleum Corp6.625% 09/01/20300.1%
MF1 2022-FL8 Ltd6.418% 02/19/20370.1%
Macquarie Bank Ltd3.624% 06/03/20300.1%
Fannie Mae Pool2.500% 12/01/20510.1%
Octagon Investment Partners XV Ltd6.552% 07/19/20300.1%
CHS/Community Health Systems Inc5.625% 03/15/20270.1%
30-YR UMBS-TBA PROD SEP2.000% 09/01/20510.1%
American Tower Corp2.950% 01/15/20250.1%
Tenet Healthcare Corp6.125% 10/01/20280.1%
Ford Credit Auto Lease Trust 2023-A5.290% 06/15/20260.1%
Rad CLO 15 Ltd6.678% 01/20/20340.1%
Fannie Mae Pool4.000% 06/01/20520.1%
Avolon Holdings Funding Ltd2.125% 02/21/20260.1%
Fannie Mae Pool2.500% 01/01/20510.1%
Freddie Mac STACR REMIC Trust 2022-DNA27.469% 02/25/20420.1%
Empresa Generadora de Electricidad Haina SA5.625% 11/08/20280.1%
BlueMountain CLO 2013-2 Ltd6.787% 10/22/20300.1%
Ford Motor Co3.250% 02/12/20320.1%
Freddie Mac STACR REMIC Trust 2022-HQA17.169% 03/25/20420.1%
State of Illinois5.100% 06/01/20330.1%
Neuberger Berman Loan Advisers CLO 35 Ltd6.922% 01/19/20330.1%
Texas Natural Gas Securitization Finance Corp5.102% 04/01/20350.1%
Gray Escrow II Inc5.375% 11/15/20310.1%
TK Elevator US Newco Inc5.250% 07/15/20270.1%
Baytex Energy Corp8.750% 04/01/20270.1%
Verus Securitization Trust 2021-51.013% 09/25/20660.1%
US Bancorp4.967% 07/22/20330.1%
Civitas Resources Inc8.375% 07/01/20280.1%
Precision Drilling Corp6.875% 01/15/20290.1%
Citigroup Inc2.666% 01/29/20310.1%
Santander Drive Auto Receivables Trust 2022-54.740% 10/16/20280.1%
Fannie Mae Pool3.500% 04/01/20520.1%
CNX Midstream Partners LP4.750% 04/15/20300.1%
Capital One Prime Auto Receivables Trust 2022-12.710% 06/16/20250.1%
GS Mortgage-Backed Securities Trust 2021-PJ22.500% 07/25/20510.1%
Honeywell International Inc4.125% 11/02/20340.1%
Carlyle Global Market Strategies CLO 2012-3 Ltd6.753% 01/14/20320.1%
JSW Infrastructure Ltd4.950% 01/21/20290.1%
Navient Corp5.500% 03/15/20290.1%
Jacobs Entertainment Inc6.750% 02/15/20290.1%
Post Road Equipment Finance 2022-14.880% 11/15/20280.1%
Chart Industries Inc9.500% 01/01/20310.1%
Allegiant Travel Co7.250% 08/15/20270.1%
Fannie Mae Pool2.500% 12/01/20510.1%
7-Eleven Inc0.800% 02/10/20240.1%
J.P. Morgan Mortgage Trust 2021-INV83.000% 05/25/20520.1%
Earthstone Energy Holdings LLC8.000% 04/15/20270.1%
GS Mortgage-Backed Securities Trust 2023-PJ13.500% 02/25/20530.1%
SunCoke Energy Inc4.875% 06/30/20290.1%
Bank of New York Mellon Corp/The4.596% 07/26/20300.1%
AEP Texas Inc5.400% 06/01/20330.1%
OneMain Financial Issuance Trust 2020-21.750% 09/14/20350.1%
LoanCore 2022-CRE7 Issuer Ltd6.618% 01/17/20370.1%
OneMain Finance Corp6.625% 01/15/20280.1%
Rad CLO 6 Ltd6.968% 01/20/20330.1%
Anglo American Capital PLC4.000% 09/11/20270.1%
Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl4.625% 06/01/20280.1%
Madison Park Funding XXXII Ltd6.607% 01/22/20310.1%
Transocean Inc8.000% 02/01/20270.1%
Lendmark Funding Trust 2022-15.120% 07/20/20320.1%
Mitsubishi UFJ Financial Group Inc5.541% 04/17/20260.1%
TICP CLO IX Ltd6.728% 01/20/20310.1%
Freddie Mac Pool5.000% 08/01/20520.1%
United States Steel Corp6.875% 03/01/20290.1%
Fannie Mae Pool2.000% 09/01/20510.1%
Royal Bank of Canada6.000% 11/01/20270.1%
DISH Network Corp11.750% 11/15/20270.1%
Carnival Corp6.000% 05/01/20290.1%
SMRT 2022-MINI6.222% 01/15/20390.1%
Dornoch Debt Merger Sub Inc6.625% 10/15/20290.1%
EquipmentShare.com Inc9.000% 05/15/20280.1%
Cheniere Energy Partners LP3.250% 01/31/20320.1%
CVS Health Corp1.750% 08/21/20300.1%
Benteler International AG10.500% 05/15/20280.1%
Mauser Packaging Solutions Holding Co7.875% 08/15/20260.1%
OneMain Direct Auto Receivables Trust 2019-14.190% 11/14/20280.1%
Ecopetrol SA8.625% 01/19/20290.1%
BNP Paribas SA4.375% 03/01/20330.1%
Indiana Michigan Power Co5.625% 04/01/20530.1%
Lindblad Expeditions Holdings Inc9.000% 05/15/20280.1%
Calderys Financing LLC11.250% 06/01/20280.1%
AthenaHealth Group Inc6.500% 02/15/20300.1%
Discover Bank4.682% 08/09/20280.1%
Bain Capital Credit CLO 2018-26.662% 07/19/20310.1%
Prestige Auto Receivables Trust 2021-13.470% 03/15/20290.1%
Enerflex Ltd9.000% 10/15/20270.1%
McAfee Corp7.375% 02/15/20300.1%
Madison IAQ LLC5.875% 06/30/20290.1%
Caesars Entertainment Inc4.625% 10/15/20290.1%
Triumph Group Inc9.000% 03/15/20280.1%
Gap Inc/The3.875% 10/01/20310.1%
Danske Bank A/S5.375% 01/12/20240.1%
CVR Partners LP / CVR Nitrogen Finance Corp6.125% 06/15/20280.1%
Evergreen Acqco 1 LP / TVI Inc9.750% 04/26/20280.1%
Callon Petroleum Co8.000% 08/01/20280.1%
Turkiye Ihracat Kredi Bankasi AS9.375% 01/31/20260.1%
Diamondback Energy Inc3.125% 03/24/20310.1%
Freddie Mac STACR REMIC Trust 2021-HQA35.919% 09/25/20410.1%
Akbank TAS6.800% 02/06/20260.1%
Altice France SA/France8.125% 02/01/20270.1%
Exeter Automobile Receivables Trust 2020-27.190% 09/15/20270.1%
Northwest Fiber LLC / Northwest Fiber Finance Sub Inc4.750% 04/30/20270.1%
Macy's Retail Holdings LLC5.875% 04/01/20290.1%
CPS Auto Receivables Trust 2020-B7.380% 06/15/20270.1%
VZ Secured Financing BV5.000% 01/15/20320.1%
Weekley Homes LLC / Weekley Finance Corp4.875% 09/15/20280.1%
National Fuel Gas Co5.500% 01/15/20260.1%
NCL Corp Ltd5.875% 02/15/20270.1%
Occidental Petroleum Corp6.450% 09/15/20360.1%
PG&E Corp5.000% 07/01/20280.1%
Gulfport Energy Corp8.000% 05/17/20260.1%
Jones Deslauriers Insurance Management Inc8.500% 03/15/20300.1%
TransDigm Inc4.625% 01/15/20290.1%
Gen Digital Inc7.125% 09/30/20300.1%
Morgan Stanley4.210% 04/20/20280.1%
American Airlines Inc7.250% 02/15/20280.1%
Cinemark USA Inc5.875% 03/15/20260.1%
ROBLOX Corp3.875% 05/01/20300.1%
LSB Industries Inc6.250% 10/15/20280.1%
National Australia Bank Ltd3.933% 08/02/20340.1%
Madison Park Funding XXI Ltd6.650% 10/15/20320.1%
Ready Capital Mortgage Financing 2022-FL8 LLC6.719% 01/25/20370.1%
Lumen Technologies Inc4.000% 02/15/20270.1%
Permian Resources Operating LLC7.750% 02/15/20260.1%
Stars Group Holdings BV7.754% 07/21/20260.1%
Connecticut Avenue Securities Trust 2019-R059.283% 07/25/20390.1%
F&G Global Funding5.150% 07/07/20250.1%
Novelis Corp3.875% 08/15/20310.1%
Tenet Healthcare Corp6.750% 05/15/20310.1%
Magnetite VII Ltd6.370% 01/15/20280.1%
Life Time Inc5.750% 01/15/20260.1%
Donlen Fleet Lease Funding 2 LLC0.560% 12/11/20340.1%
Rockcliff Energy II LLC5.500% 10/15/20290.1%
BellRing Brands Inc7.000% 03/15/20300.1%
Standard Industries Inc/NJ4.375% 07/15/20300.1%
American Airlines Inc11.750% 07/15/20250.1%
Hilcorp Energy I LP / Hilcorp Finance Co5.750% 02/01/20290.1%
PBF Holding Co LLC / PBF Finance Corp6.000% 02/15/20280.1%
Eskom Holdings SOC Ltd7.125% 02/11/20250.1%
Kinder Morgan Energy Partners LP4.250% 09/01/20240.1%
Owens-Brockway Glass Container Inc6.625% 05/13/20270.1%
Comstock Resources Inc6.750% 03/01/20290.1%
Spirit AeroSystems Inc9.375% 11/30/20290.1%
Santander Drive Auto Receivables Trust 2023-15.090% 05/15/20300.1%
Fannie Mae Pool2.500% 05/01/20520.1%
Post Holdings Inc4.625% 04/15/20300.1%
Verus Securitization Trust 2020-41.502% 05/25/20650.1%
Vistra Operations Co LLC7.183% 12/31/20250.1%
Octane Receivables Trust 2022-25.110% 02/22/20280.1%
Eco Material Technologies Inc7.875% 01/31/20270.1%
BARCLAYS CAPITAL0.010% 08/01/20230.1%
BARCLAYS CAPITAL0.010% 08/01/20230.1%
BankUnited Inc5.125% 06/11/20300.1%
Charter Communications Operating LLC7.067% 02/01/20270.1%
Freddie Mac Pool2.500% 11/01/20500.1%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust4.875% 01/16/20240.1%
Westlake Automobile Receivables Trust 2021-13.910% 09/15/20270.1%
Credit Index Swap5.000% 06/20/20280.1%
Freddie Mac Pool5.000% 07/01/20520.1%
Viterra Finance BV3.200% 04/21/20310.1%
Verus Securitization Trust 2021-81.824% 11/25/20660.1%
Marlette Funding Trust 2021-31.300% 12/15/20310.1%
Asbury Automotive Group Inc5.000% 02/15/20320.1%
OneMain Direct Auto Receivables Trust 2019-13.630% 09/14/20270.1%
TCW CLO 2022-1 Ltd6.686% 04/22/20330.1%
Fannie Mae Pool2.500% 12/01/20510.1%
Rockford Tower CLO 2018-1 Ltd6.479% 05/20/20310.1%
Ford Credit Auto Lease Trust 2023-A5.540% 12/15/20260.1%
Fluor Corp4.250% 09/15/20280.1%
Fannie Mae Pool3.500% 07/01/20450.1%
Royal Caribbean Cruises Ltd8.250% 01/15/20290.1%
Mileage Plus Holdings LLC10.764% 06/21/20270.1%
BRAVO Residential Funding Trust 2021-NQM20.970% 03/25/20600.1%
Morgan Stanley4.000% 07/23/20250.1%
Fannie Mae Pool3.000% 12/01/20480.1%
Amur Equipment Finance Receivables IX LLC2.300% 11/22/20270.1%
Westlake Automobile Receivables Trust 2023-15.740% 08/15/20280.1%
Centene Corp4.250% 12/15/20270.1%
Morgan Stanley2.484% 09/16/20360.1%
Penn Entertainment Inc4.125% 07/01/20290.1%
Hawaiian Brand Intellectual Property Ltd / HawaiianMiles Loyalty Ltd5.750% 01/20/20260.1%
Connecticut Avenue Securities Trust 2023-R028.419% 01/25/20430.1%
Avid Automobile Receivables Trust 2021-13.390% 04/17/20280.1%
CARLYLE US CLO 2019-1 LTD6.668% 04/20/20310.1%
Bain Capital Credit CLO 2019-26.670% 10/17/20320.1%
VICI Properties LP / VICI Note Co Inc5.625% 05/01/20240.1%
Romark CLO Ltd7.257% 10/23/20300.1%
Freddie Mac Pool3.500% 02/01/20460.1%
T-Mobile USA Inc3.500% 04/15/20250.1%
ABN AMRO Bank NV3.324% 03/13/20370.1%
ModivCare Escrow Issuer Inc5.000% 10/01/20290.1%
Macquarie Group Ltd2.691% 06/23/20320.1%
180 Medical Inc3.875% 10/15/20290.1%
Fannie Mae Pool4.000% 05/01/20520.1%
Vital Energy Inc9.500% 01/15/20250.1%
Flagship Credit Auto Trust 2019-33.840% 12/15/20260.1%
Danske Bank A/S4.375% 06/12/20280.1%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.1%
Avant Loans Funding Trust 2021-REV14.300% 07/15/20300.1%
Fannie Mae Pool5.000% 07/01/20520.1%
Perimeter Master Note Business Trust7.060% 05/15/20240.1%
Carlyle Global Market Strategies CLO 2015-1 Ltd6.568% 07/20/20310.1%
Cedar Funding V CLO Ltd6.670% 07/17/20310.1%
Santander Consumer Auto Receivables Trust 2021-A5.790% 08/15/20280.1%
Fannie Mae Pool2.000% 06/01/20510.0%
GM Financial Automobile Leasing Trust 2022-22.930% 10/21/20240.0%
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC3.500% 03/15/20290.0%
Azul Secured Finance LLP11.930% 08/28/20280.0%
Fannie Mae Pool2.500% 09/01/20510.0%
Aqua Finance Trust 2021-A1.540% 07/17/20460.0%
EPR Properties4.950% 04/15/20280.0%
GS Mortgage Securities Corp Trust 2022-AGSS7.417% 08/15/20390.0%
Fannie Mae Pool2.500% 08/01/20510.0%
British Airways 2020-1 Class A Pass Through Trust4.250% 05/15/20340.0%
Fannie Mae Pool5.000% 07/01/20520.0%
Freddie Mac STACR REMIC Trust 2021-HQA46.019% 12/25/20410.0%
COMM 2014-UBS4 Mortgage Trust4.711% 08/10/20470.0%
Fairstone Financial Issuance Trust I6.873% 10/20/20390.0%
Fannie Mae Pool4.000% 05/01/20520.0%
Fannie Mae Pool3.000% 01/01/20510.0%
Lendmark Funding Trust 2021-24.460% 04/20/20320.0%
Lending Funding Trust 2020-26.770% 04/21/20310.0%
Metropolitan Life Global Funding I4.050% 08/25/20250.0%
Fannie Mae Pool2.000% 11/01/20510.0%
Delta Air Lines Inc7.000% 05/01/20250.0%
COMM 2015-DC1 Mortgage Trust4.295% 02/10/20480.0%
Great Wolf Trust 2019-WOLF6.370% 12/15/20360.0%
Sunrun Demeter Issuer 2021-2 LLC2.270% 01/30/20570.0%
JP Morgan Chase Commercial Mortgage Securities Trust 2020-MKST7.836% 12/15/20360.0%
Barings CLO Ltd 2019-III6.658% 04/20/20310.0%
NGPL PipeCo LLC3.250% 07/15/20310.0%
Avolon Holdings Funding Ltd3.950% 07/01/20240.0%
Tricolor Auto Securitization Trust 2021-13.230% 09/15/20260.0%
Bank of America Corp3.384% 04/02/20260.0%
Protective Life Corp8.450% 10/15/20390.0%
Perimeter Master Note Business Trust4.170% 12/15/20260.0%
Molina Healthcare Inc3.875% 11/15/20300.0%
Upstart Securitization Trust 2021-21.750% 06/20/20310.0%
Mariner Finance Issuance Trust 2021-A5.400% 03/20/20360.0%
Marble Point CLO XVII Ltd6.888% 04/20/20330.0%
CIFC Funding 2014-V Ltd6.770% 10/17/20310.0%
CS Master Trust9.285% 04/15/20250.0%
Citigroup Inc4.140% 05/24/20250.0%
Park Aerospace Holdings Ltd5.500% 02/15/20240.0%
SCF Equipment Leasing 2019-2 LLC2.760% 08/20/20260.0%
TRTX 2019-FL3 Issuer Ltd7.436% 10/15/20340.0%
Assurant Inc2.650% 01/15/20320.0%
Avis Budget Rental Car Funding AESOP LLC3.700% 09/20/20240.0%
Commercial Metals Co4.125% 01/15/20300.0%
Lamb Weston Holdings Inc4.125% 01/31/20300.0%
Wells Fargo Commercial Mortgage Trust 2013-LC124.195% 07/15/20460.0%
Cellnex Finance Co SA3.875% 07/07/20410.0%
Jamestown CLO VI-R Ltd6.763% 04/25/20300.0%
Hilton Domestic Operating Co Inc4.875% 01/15/20300.0%
JP Morgan Chase Commercial Mortgage Securities Corp Series 2019-PCC9.687% 09/15/20290.0%
US 5YR NOTE (CBT) Sep230.000% 10/04/20230.0%
JP Morgan Chase Commercial Mortgage Securities Corp Series 2019-PCC7.987% 09/15/20290.0%
JP Morgan Chase Commercial Mortgage Securities Corp Series 2019-PCC8.687% 09/15/20290.0%
JP Morgan Chase Commercial Mortgage Securities Corp Series 2019-PCC10.687% 09/15/20290.0%
ReadyCap Commercial Mortgage Trust 2019-62.833% 10/25/20520.0%
LPL Holdings Inc6.963% 11/12/20260.0%
Mariner Finance Issuance Trust 2021-B4.680% 11/20/20360.0%
Baxalta Inc4.000% 06/23/20250.0%
Fannie Mae Pool2.000% 11/01/20510.0%
Cigna Group/The4.375% 10/15/20280.0%
Fannie Mae Pool3.500% 09/01/20510.0%
Aviation Capital Group LLC1.950% 01/30/20260.0%
Assurant Inc3.700% 02/22/20300.0%
BBCMS 2019-BWAY Mortgage Trust6.292% 11/15/20340.0%
Mountain View CLO 2017-1 LLC7.320% 10/16/20290.0%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.875% 04/15/20450.0%
Generate CLO 2 Ltd6.757% 01/22/20310.0%
OneMain Financial Issuance Trust 2020-23.450% 09/14/20350.0%
CSMC 2020-NQM1 Trust1.208% 05/25/20650.0%
Verus Securitization Trust 2020-51.218% 05/25/20650.0%
Bayer Corp/NJ6.650% 02/15/20280.0%
BBCMS 2019-BWAY Mortgage Trust6.946% 11/15/20340.0%
CF Trust 2019-BOSS8.519% 12/15/20240.0%
Citigroup Commercial Mortgage Trust 2016-GC362.850% 02/10/20490.0%
JP Morgan Chase Commercial Mortgage Securities Corp Series 2019-PCC7.087% 09/15/20290.0%
CSAIL 2019-C18 Commercial Mortgage Trust3.321% 12/15/20520.0%
Western Alliance Bancorp3.000% 06/15/20310.0%
Prima Capital CRE Securitization 2019-RK1 Ltd4.000% 04/15/20380.0%
Wells Fargo Commercial Mortgage Trust 2017-C413.785% 11/15/20500.0%
Avid Automobile Receivables Trust 2019-13.140% 07/15/20260.0%
CPS Auto Receivables Trust 2020-B4.750% 04/15/20260.0%
Vista Point Securitization Trust 2020-21.475% 04/25/20650.0%
Citigroup Commercial Mortgage Trust 2016-GC363.849% 02/10/20490.0%
Prima Capital CRE Securitization 2019-RK1 Ltd4.450% 04/15/20380.0%
GS Mortgage Securities Corp Trust 2018-RIVR6.219% 07/15/20350.0%
OneMain Financial Issuance Trust 2018-23.570% 03/14/20330.0%
CSMC 2020-AFC1 Trust2.240% 02/25/20500.0%
BBCMS 2019-BWAY Mortgage Trust6.646% 11/15/20340.0%
Natixis Commercial Mortgage Securities Trust 2018-285M3.790% 11/15/20320.0%
COMM 2014-UBS6 Mortgage Trust4.349% 12/10/20470.0%
Natixis Commercial Mortgage Securities Trust 2018-285M3.790% 11/15/20320.0%
GS Mortgage Securities Trust 2014-GC264.512% 11/10/20470.0%
Verus Securitization Trust 2020-12.417% 01/25/20600.0%
Ellington Financial Mortgage Trust 2020-21.178% 10/25/20650.0%
BBCMS 2018-TALL Mortgage Trust7.856% 03/15/20370.0%
Credit Suisse Mortgage Capital Certificates1.616% 04/25/20650.0%
SG Commercial Mortgage Securities Trust 2019-787E0.305% 02/15/20410.0%
Angel Oak Mortgage Trust 2020-12.466% 12/25/20590.0%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.500% 03/15/20270.0%
FX EUR/USD 09/230.000% 09/13/20230.0%
Residential Mortgage Loan Trust 2020-12.376% 01/26/20600.0%
Orange Lake Timeshare Trust 2019-A3.060% 04/09/20380.0%
FX EUR/USD 09/230.000% 09/13/20230.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTrust 2018-MINN6.539% 11/15/20350.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTrust 2018-MINN6.869% 11/15/20350.0%
COMM 2015-PC1 Mortgage Trust4.289% 07/10/20500.0%
Starwood Mortgage Residential Trust 2020-12.275% 02/25/20500.0%
Government National Mortgage Association2.650% 11/16/20500.0%
FX EUR/USD 09/230.000% 09/13/20230.0%
JP Morgan Chase Commercial Mortgage Securities Trust 2014-DSTY3.805% 06/10/20270.0%
FX USD/CAD 11/230.000% 11/20/20230.0%
EURO-BUND FUTURE Sep230.000% 09/11/20230.0%
FX USD/EUR 09/230.000% 09/13/20230.0%
US 10YR NOTE (CBT)Sep230.000% 09/29/20230.0%
US LONG BOND(CBT) Sep230.000% 09/29/20230.0%
LAC0.010% 08/01/2023-0.1%
LAC0.010% 08/01/2023-0.1%
US ULTRA BOND CBT Sep230.000% 09/29/2023-0.1%
US 2YR NOTE (CBT) Sep230.000% 10/04/2023-0.1%
LAC0.010% 08/01/2023-0.2%
LAC0.010% 08/01/2023-0.2%

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 09/26/2023
$0.39396
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 08/31/2023 $0.05133 $12.65
Daily Daily 07/31/2023 $0.05169 $12.76
Daily Daily 06/30/2023 $0.05094 $12.77
Daily Daily 05/31/2023 $0.05018 $12.81
Daily Daily 04/30/2023 $0.04935 $13.02
Daily Daily 03/31/2023 $0.05031 $13.00
Daily Daily 02/28/2023 $0.04559 $12.77
Daily Daily 01/31/2023 $0.04456 $13.12

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 09/30/2023
Daily Daily 10/31/2023
Daily Daily 11/30/2023
Daily Daily 12/31/2023

Yield

Yield

Dividend Yield as of 09/26/2023  

  Subsidized Un-Subsidized
w/o sales charge 5.00% 4.99%

30-Day Standardized Yield as of 08/31/2023  

  Subsidized Un-Subsidized
w/o sales charge 5.00% 4.99%

Fees & Expenses

Fees & Expenses

Expense Ratioas of 08/31/2023

Fund Gross Expense Ratio Fund Net Expense Ratio
0.99% 0.98%

Expense ratio details, Click here.

Fund Documents

Fund Documents

0Documents selected
Portfolio Holdings 1Q
Publish Date:11/03/2015
Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
Statutory Prospectus
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015

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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

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

 

2

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

 

3

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

 

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 R3 - The performance quotations for Class R3 reflect the following methods of calculation: (a) for periods prior to the inception date for Class R3, 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 R3, adjusted to reflect the Rule 12b-1 rate differential between Class A and Class R3, which has a higher 12b-1 fee than Class A; and (b) for periods after the inception date for Class R3, actual Class R3 performance is used reflecting all charges and fees applicable to Class R3 shares. Hypothetical performance data for Class R3, 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 R3 performance information for the inception date for Class R3. Please refer to the Class A performance information for the inception date for Class A.

Class R3 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 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.

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