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Core Plus Bond Fund

Daily price w/o sales charge as of 07/01/2020

$15.33

arrowUp$0.02

YTD Returns w/o sales charge as of 07/01/2020

2.04%

Please click here for performance current to the most recent quarter-end and month-end.

Click here to view all legal text including risk information

Summary

Summary

What is the Core Plus Bond Fund?

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

 

Yield

Dividend Yield 1 as of 07/01/2020  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.47% 3.03%
w/ sales charge 3.39% 2.96%

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

  Subsidized3 Un-Subsidized4
w/o sales charge 2.73% 2.64%

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

Expense Ratioas of 05/31/2020

Expense ratio details, Click here.

Fund Basicsas of 05/29/2020

Total Net Assets
$262.10 M
Inception Date
12/08/2015
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
650
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

Gross 1.12%

Net 0.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 1.90% 4.30% 4.06% - - 4.43%
Lipper Category Avg. Core Plus Bond Funds - - - - - -
Bloomberg Barclays U.S. Aggregate Bond Index 6.14% 8.74% 5.32% - - 4.52%
w/ sales charge -0.38% 1.96% 3.28% - - 3.91%

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

Fund Expense Ratio :

Gross 1.12%

Net 0.68%

Fund Expense Ratio :

Gross 1.12%

Net 0.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 1.90% 4.30% 4.06% - - 4.43%
Lipper Category Avg. Core Plus Bond Funds - - - - - -
Bloomberg Barclays U.S. Aggregate Bond Index 6.14% 8.74% 5.32% - - 4.52%
w/ sales charge -0.38% 1.96% 3.28% - - 3.91%

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

Fund Expense Ratio :

Gross 1.12%

Net 0.68%

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

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

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

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

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

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

Credit Quality Distribution as of 05/29/2020 View Portfolio

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB
Not Rated

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the median, but if there are only two ratings, the lower rating is used. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

Investment Team

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

26 Years of Industry Experience

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

Partner & Portfolio Manager

22 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

19 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

29 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

Dividend Yield 1 as of 07/01/2020  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.47% 3.03%
w/ sales charge 3.39% 2.96%

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

  Subsidized5 Un-Subsidized6
w/o sales charge 2.73% 2.64%

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

Fund Expense Ratio :

Gross 1.12%

Net 0.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 1.90% 4.30% 4.06% - - 4.43%
Lipper Category Avg. Core Plus Bond Funds - - - - - -
Bloomberg Barclays U.S. Aggregate Bond Index 6.14% 8.74% 5.32% - - 4.52%
w/ sales charge -0.38% 1.96% 3.28% - - 3.91%

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

Fund Expense Ratio :

Gross 1.12%

Net 0.68%

Fund Expense Ratio :

Gross 1.12%

Net 0.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 1.90% 4.30% 4.06% - - 4.43%
Lipper Category Avg. Core Plus Bond Funds - - - - - -
Bloomberg Barclays U.S. Aggregate Bond Index 6.14% 8.74% 5.32% - - 4.52%
w/ sales charge -0.38% 1.96% 3.28% - - 3.91%

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

Fund Expense Ratio :

Gross 1.12%

Net 0.68%

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.

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

Portfolio

Portfolio

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

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

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

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

Credit Quality Distribution as of 05/29/2020

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB
Not Rated

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the median, but if there are only two ratings, the lower rating is used. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

Portfolio Positioningas of 3/31/2020

  • Over the quarter we decreased the portfolio’s overweight to agency mortgage-backed securities (MBS). The asset class outperformed corporate credit  and other securitized products, as it benefited from the Fed’s announcement that they would buy a minimum of $200B of agency MBS to help stimulate the economy.
  • We reallocated proceeds from the sales of agency MBS and invested in corporate credit. With the continued weakness throughout the quarter in both investment grade and high yield corporate credit, and relative underperformance compared to securitized products, we found the valuations of certain issues to be fairly attractive. Notably, we added to short-term corporate debt, which is a part of the market where we saw a severe dislocation as many investors aggressively sold short-term bonds in order to raise cash.
  • We maintained our overweight position within asset-backed securities (ABS). We favor high quality ABS that are backed by credit cards and auto loans, and we have avoided areas of the market that have been more directly exposed to the impact of the coronavirus (such as container and aircraft ABS). 

Portfolio Details as of 05/29/2020

Total Net Assets
$262.10 M
Number of Issues
650
Average Coupon
3.66%
Average Life
6.98 Years
Average Maturity
6.98 Years
Average Effective Duration
5.68 Years
Average Modified Duration
6.11 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
30-YR UMBS-TBA PROD JUN 4.000% 02/01/2047 7.7%
30-YR UMBS-TBA PROD JUN 3.500% 10/01/2046 2.8%
U.S. Treasury Note/Bond 0.250% 05/31/2025 2.6%
U.S. Treasury Note/Bond 0.125% 04/30/2022 2.6%
30-YR UMBS-TBA PROD JUN 3.000% 09/01/2045 2.5%
30-YR GNMA II-TBA PROD JUN 3.500% 07/01/2049 2.0%
U.S. Treasury Note 0.625% 04/15/2023 2.0%
U.S. Treasury Note/Bond 0.125% 05/31/2022 1.7%
Federal Home Loan Mortgage Corp. 4.000% 11/01/2049 1.7%
U.S. Treasury Note/Bond 3.625% 08/15/2043 1.5%
% of Total Assets 27.1%
Holding Coupon Maturity Assets
30-YR UMBS-TBA PROD JUN4.000% 02/01/20477.7%
30-YR UMBS-TBA PROD JUN3.500% 10/01/20462.8%
U.S. Treasury Note/Bond0.250% 05/31/20252.6%
U.S. Treasury Note/Bond0.125% 04/30/20222.6%
30-YR UMBS-TBA PROD JUN3.000% 09/01/20452.5%
30-YR GNMA II-TBA PROD JUN3.500% 07/01/20492.0%
U.S. Treasury Note0.625% 04/15/20232.0%
U.S. Treasury Note/Bond0.125% 05/31/20221.7%
Federal Home Loan Mortgage Corp.4.000% 11/01/20491.7%
U.S. Treasury Note/Bond3.625% 08/15/20431.5%
Federal National Mortgage Assoc.3.500% 09/01/20471.3%
United States Treasury Bill0.000% 07/30/20201.2%
UBS AG Registered Shares5.125% 05/15/20240.9%
Federal National Mortgage Assoc.3.500% 03/01/20500.7%
Time Warner Cable LLC7.300% 07/01/20380.7%
Drive Auto Receivables Trust 2017-15.170% 09/16/20240.6%
General Motors Co.6.600% 04/01/20360.6%
U.S. Treasury Note/Bond0.625% 05/15/20300.6%
VMC Finance 2019-FL3 LLC1.271% 09/15/20360.6%
AT&T, Inc.6.000% 08/15/20400.6%
Palmer Square Loan Funding 2018-1 Ltd1.819% 04/15/20260.6%
AbbVie, Inc.4.250% 11/21/20490.5%
HCA, Inc.5.500% 06/15/20470.5%
NextGear Floorplan Master Owner Trust3.210% 02/15/20240.5%
AmeriCredit Automobile Receivables Trust 2020-11.480% 01/21/20250.5%
Westlake Automobile Receivables Trust 2018-24.000% 01/16/20240.5%
Anheuser-Busch InBev Worldwide, Inc.4.750% 01/23/20290.5%
Sabine Pass Liquefaction LLC5.875% 06/30/20260.5%
Biogen Idec, Inc.2.250% 05/01/20300.5%
CVS Caremark Corp.4.780% 03/25/20380.5%
JPMorgan Chase & Co.3.782% 02/01/20280.5%
GS Mortgage Securities Corp Trust 2019-70P1.184% 10/15/20360.5%
Eli Lilly & Co.2.250% 05/15/20500.4%
BAT Capital Corp4.390% 08/15/20370.4%
Santander Drive Auto Receivables Trust 2018-53.810% 12/16/20240.4%
NiSource, Inc.3.490% 05/15/20270.4%
Cox Communications, Inc.8.375% 03/01/20390.4%
Ford Credit Auto Owner Trust 2019-C1.880% 07/15/20220.4%
General Electric Co.5.000% 12/31/20990.4%
Hyundai Floorplan Master Owner Trust2.680% 04/15/20240.4%
Wells Fargo Commercial Mortgage Trust 2016-C354.176% 07/15/20480.4%
Zimmer Biomet Holdings, Inc.5.750% 11/30/20390.4%
Wabtec Corp.4.950% 09/15/20280.4%
Bank of America Corp.3.593% 07/21/20280.4%
Atrium Hotel Portfolio Trust 2017-ATRM1.114% 12/15/20360.4%
Nvent Finance Sarl4.550% 04/15/20280.4%
Dell International LLC / EMC Corp.8.350% 07/15/20460.4%
Foursight Capital Automobile Receivables Trust 2013.530% 04/17/20230.4%
CPS Auto Trust4.610% 12/15/20220.4%
PSEG Power LLC8.625% 04/15/20310.4%
AerCap Ireland Capital Ltd.4.875% 01/16/20240.4%
Broadcom Corp. / Broadcom Cayman Finance Ltd.3.875% 01/15/20270.4%
First Investors Auto Owner Trust 2019-13.020% 03/17/20250.4%
Palmer Square Loan Funding 2018-5 Ltd1.985% 01/20/20270.4%
Alcon Finance Corp2.600% 05/27/20300.4%
ReadyCap Commercial Mortgage Trust 2019-62.833% 10/25/20520.3%
DTE Electric Co2.625% 03/01/20310.3%
LoanCore 2019-CRE3 Issuer Ltd1.234% 04/15/20340.3%
Westlake Automobile Receivables Trust 2019-32.150% 02/15/20230.3%
Chesapeake Funding II LLC2.940% 04/15/20310.3%
Wells Fargo Capital X5.950% 12/01/20860.3%
NextGear Floorplan Master Owner Trust2.560% 10/17/20220.3%
JP Morgan Chase Commercial Mortgage Securities Tru1.184% 06/15/20320.3%
U.S. Treasury Note/Bond1.250% 05/15/20500.3%
Netflix, Inc.6.375% 05/15/20290.3%
GS Mortgage Securities Corp Trust 2019-70P1.504% 10/15/20360.3%
U.S. Treasury Note/Bond2.375% 11/15/20490.3%
VEREIT Operating Partnership L.P.4.875% 06/01/20260.3%
Anheuser-Busch InBev Worldwide, Inc.3.500% 06/01/20300.3%
AT&T, Inc.6.250% 03/29/20410.3%
Credit Index Swap5.000% 06/20/20250.3%
KVK CLO 2016-1 Ltd3.469% 01/15/20290.3%
American Express Credit Account Master Trust3.070% 10/15/20240.3%
AT&T, Inc.3.650% 06/01/20510.3%
United Technologies Corp.2.250% 07/01/20300.3%
National Australia Bank Ltd.3.933% 08/02/20340.3%
Boston Scientific Corp.2.650% 06/01/20300.3%
Palmer Square Loan Funding 2020-1 Ltd1.177% 02/20/20280.3%
Kayne CLO 7 Ltd2.607% 04/17/20330.3%
Boeing Co.4.875% 05/01/20250.3%
GS Mortgage Securities Corp Trust 2019-SMP1.334% 08/15/20320.3%
Catholic Health Initiatives3.347% 10/01/20290.3%
Capital Auto Receivables Asset Trust 2018-23.270% 06/20/20230.3%
Drive Auto Receivables Trust 2019-14.090% 06/15/20260.3%
CSAIL 2016-C7 Commercial Mortgage Trust4.387% 11/15/20490.3%
Ally Financial, Inc.8.000% 11/01/20310.3%
Alibaba Group Holding Ltd.3.600% 11/28/20240.3%
Amur Equipment Finance Receivables V LLC3.740% 04/22/20240.3%
Oglethorpe Power Corp.5.950% 11/01/20390.3%
Tencent Holdings Ltd.3.595% 01/19/20280.3%
BMW Vehicle Owner Trust 2019-A2.050% 05/25/20220.3%
NGPL Pipeco LLC4.875% 08/15/20270.3%
Qatar Government International Bond3.250% 06/02/20260.2%
Credit Suisse Commercial Mortgage Securities Corp1.434% 01/15/20340.2%
Anglo American Capital plc4.750% 04/10/20270.2%
CF Trust 2019-MF12.950% 08/21/20320.2%
Glencore Finance Canada Ltd.5.550% 10/25/20420.2%
Emera US Finance L.P.4.750% 06/15/20460.2%
Saudi Arabian Oil Co2.875% 04/16/20240.2%
Kraft Heinz Foods Co.4.375% 06/01/20460.2%
CVS Caremark Corp.3.625% 04/01/20270.2%
Exelon Generation Co. LLC3.250% 06/01/20250.2%
Global Payments, Inc.3.200% 08/15/20290.2%
Nigeria Government International Bond6.375% 07/12/20230.2%
Boeing Co.5.040% 05/01/20270.2%
Capital One Prime Auto Receivables Trust 2019-22.060% 09/15/20220.2%
Westlake Automobile Receivables Trust 2020-12.520% 04/15/20250.2%
Westlake Automobile Receivables Trust 2018-33.320% 10/16/20230.2%
AmeriCredit Automobile Receivables Trust 2017-32.240% 06/19/20230.2%
Morgan Stanley3.625% 01/20/20270.2%
Federal National Mortgage Assoc.4.000% 01/01/20480.2%
AES Corp.5.125% 09/01/20270.2%
Mexichem SAB de CV4.875% 09/19/20220.2%
National Fuel Gas Co.5.500% 01/15/20260.2%
Occidental Petroleum Corp.7.875% 09/15/20310.2%
Ford Motor Co.7.450% 07/16/20310.2%
UnitedHealth Group, Inc.3.500% 08/15/20390.2%
Delta Air Lines, Inc.7.000% 05/01/20250.2%
Westlake Automobile Receivables Trust 2019-13.260% 10/17/20220.2%
Petroleos Mexicanos4.500% 01/23/20260.2%
Imperial Tobacco Finance plc3.875% 07/26/20290.2%
BAE Systems plc3.400% 04/15/20300.2%
Universal Health Services, Inc.5.000% 06/01/20260.2%
Altria Group, Inc.5.950% 02/14/20490.2%
American Express Credit Account Master Trust2.860% 11/15/20240.2%
ME Funding LLC 2019-16.448% 07/30/20490.2%
Fifth Third Auto Trust 2019-12.660% 05/16/20220.2%
Ally Auto Receivables Trust 2019-41.930% 10/17/20220.2%
Discover Bank4.682% 08/09/20280.2%
Perimeter Master Note Business Trust6.020% 12/15/20220.2%
Avid Automobile Receivables Trust 2019-12.820% 07/15/20260.2%
Avid Automobile Receivables Trust 2019-13.140% 07/15/20260.2%
M360 2019-CRE2 LLC2.034% 09/15/20340.2%
Ammc Clo 19 Ltd.3.019% 10/16/20280.2%
Ammc Clo 19 Ltd.3.769% 10/16/20280.2%
CNAC HK Finbridge Co Ltd4.125% 07/19/20270.2%
Octagon Investment Partners 30 Ltd2.835% 03/17/20300.2%
Dollar Tree, Inc.4.200% 05/15/20280.2%
Great Wolf Trust 2019-WOLF1.218% 12/15/20360.2%
Benchmark 2019-B12 Mortgage Trust3.440% 08/15/20520.2%
GS Mortgage Securities Corp Trust 2019-SMP1.684% 08/15/20320.2%
CPS Auto Receivables Trust 2020-A2.900% 12/15/20250.2%
Triton Container Finance VI LLC4.190% 06/22/20430.2%
CF Industries, Inc.4.950% 06/01/20430.2%
Lithia Motors, Inc.4.625% 12/15/20270.2%
Sprint Capital Corp.6.875% 11/15/20280.2%
Cargill Inc2.125% 04/23/20300.2%
Federal Home Loan Mortgage Corp.4.000% 10/01/20490.2%
Drive Auto Receivables Trust4.160% 05/15/20240.2%
Foursight Capital Automobile Receivables Trust 2015.560% 01/16/20240.2%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl4.700% 02/01/20360.2%
JBS USA LUX SA / JBS USA Food Co / JBS USA Finance6.500% 04/15/20290.2%
Salem Fields CLO Ltd 2016-22.944% 10/25/20280.2%
PFP 2019-6 Ltd1.882% 04/14/20370.2%
Navient Corp.6.750% 06/25/20250.2%
Parsley Energy LLC5.625% 10/15/20270.2%
Valero Energy Corp.10.500% 03/15/20390.2%
Wells Fargo Commercial Mortgage Trust4.276% 07/15/20460.2%
Carnival Corp.11.500% 04/01/20230.2%
Verus Securitization Trust 2020-12.417% 01/25/20600.2%
Aircastle Ltd.4.250% 06/15/20260.2%
E*TRADE Financial Corp.5.875% 12/31/20990.2%
Capital One Multi-Asset Execution Trust2.060% 08/15/20280.2%
CCO Holdings LLC / CCO Holdings Capital Corp.4.750% 03/01/20300.2%
Textainer Marine Containers VII Ltd4.110% 07/20/20430.2%
Enviva Partners LP / Enviva Partners Finance Corp6.500% 01/15/20260.2%
Saudi Government International Bond3.625% 03/04/20280.2%
NRG Energy, Inc.4.450% 06/15/20290.2%
Buckeye Partners L.P.6.375% 01/22/20780.2%
Sunac China Holdings Ltd7.875% 02/15/20220.2%
Toronto-Dominion Bank3.625% 09/15/20310.2%
Carmax Auto Owner Trust 2019-42.320% 07/15/20250.2%
Deephaven Residential Mortgage Trust 2019-32.964% 07/25/20590.2%
Tenet Healthcare Corp.7.000% 08/01/20250.2%
Nexstar Broadcasting, Inc.5.625% 07/15/20270.2%
Marble Point CLO XVII Ltd2.196% 04/20/20330.2%
Continental Resources, Inc.3.800% 06/01/20240.2%
First Investors Auto Owner Trust 2019-22.710% 12/15/20250.2%
CNAC HK Finbridge Co Ltd3.500% 07/19/20220.2%
CPS Auto Receivables Trust 2019-D2.350% 11/15/20230.2%
Mattel, Inc.6.750% 12/31/20250.2%
Boyd Gaming Corp.6.000% 08/15/20260.2%
CPS Auto Receivables Trust 2019-D2.540% 08/15/20240.2%
Acrisure LLC / Acrisure Finance Inc7.000% 11/15/20250.2%
AstraZeneca plc4.375% 08/17/20480.2%
Angel Oak Mortgage Trust I LLC 2019-42.993% 07/26/20490.2%
COMM 2014-UBS4 Mortgage Trust4.706% 08/10/20470.2%
BX Trust 2019-OC113.202% 12/09/20410.2%
World Financial Network Credit Card Master Trust2.210% 07/15/20260.2%
Minerva Luxembourg SA5.875% 01/19/20280.2%
General Electric Co.1.741% 03/15/20230.2%
Egypt Government International Bond6.588% 02/21/20280.2%
Albertsons Cos Inc / Safeway Inc / New Albertsons4.875% 02/15/20300.2%
Penn National Gaming, Inc.5.625% 01/15/20270.2%
XPO Logistics, Inc.6.250% 05/01/20250.2%
Stanley Black & Decker, Inc.4.000% 03/15/20600.2%
Protective Life Corp.8.450% 10/15/20390.1%
Owens Corning4.300% 07/15/20470.1%
Jamestown CLO VI-R Ltd2.141% 04/25/20300.1%
Exelon Generation Co. LLC5.750% 10/01/20410.1%
Goodman US Finance Three LLC3.700% 03/15/20280.1%
SCF Equipment Leasing 2019-2 LLC2.760% 08/20/20260.1%
GS Mortgage Securities Corp Trust 2019-70P0.506% 10/15/20360.1%
Drive Auto Receivables Trust 2019-42.700% 02/16/20270.1%
Citigroup, Inc.3.980% 03/20/20300.1%
DISH DBS Corp.7.750% 07/01/20260.1%
General Electric Co.6.150% 08/07/20370.1%
PetSmart, Inc.5.875% 06/01/20250.1%
Volkswagen Group of America Finance LLC3.125% 05/12/20230.1%
Tesla Motors, Inc.5.300% 08/15/20250.1%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.1%
Roper Industries, Inc.3.650% 09/15/20230.1%
Shimao Property Holdings Ltd.4.750% 07/03/20220.1%
Ukraine Government7.750% 09/01/20230.1%
Kansas City Southern3.500% 05/01/20500.1%
MHP Lux SA6.250% 09/19/20290.1%
Boeing Co.5.150% 05/01/20300.1%
National Securities Clearing Corp1.500% 04/23/20250.1%
TRTX 2019-FL3 Issuer Ltd2.284% 09/15/20340.1%
EPR Properties4.950% 04/15/20280.1%
Scripps Escrow Inc5.875% 07/15/20270.1%
CF Trust 2019-MF12.650% 08/21/20320.1%
Dominion Resources, Inc.3.375% 04/01/20300.1%
Teachers Insurance & Annuity Association of Americ4.900% 09/15/20440.1%
Avid Automobile Receivables Trust 2019-12.620% 02/15/20240.1%
Federal National Mortgage Assoc.3.500% 09/01/20470.1%
JD.com, Inc.3.375% 01/14/20300.1%
Avolon Holdings Funding Ltd5.250% 05/15/20240.1%
Coty, Inc.6.500% 04/15/20260.1%
New Residential Mortgage Loan Trust 2019-NQM32.802% 07/25/20490.1%
Halcyon Loan Advisors Funding 2015-3 Ltd2.035% 10/18/20270.1%
Ford Credit Floorplan Master Owner Trust A2.390% 08/15/20220.1%
Newell Rubbermaid, Inc.5.875% 04/01/20360.1%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.1%
Listrindo Capital BV4.950% 09/14/20260.1%
Global Atlantic Fin Co4.400% 10/15/20290.1%
Valeant Pharmaceuticals International, Inc.5.000% 01/30/20280.1%
Fibria Overseas Finance Ltd.4.000% 01/14/20250.1%
Selective Insurance Group, Inc.5.375% 03/01/20490.1%
Quest Diagnostics, Inc.2.800% 06/30/20310.1%
Berkshire Hathaway Energy Co.3.800% 07/15/20480.1%
Park Aerospace Holdings Ltd5.500% 02/15/20240.1%
First Investors Auto Owner Trust 2019-22.210% 09/16/20240.1%
Centene Corp.3.375% 02/15/20300.1%
Prestige Auto Receivables Trust 2017-13.610% 10/16/20230.1%
BBCMS 2019-BWAY Mortgage Trust1.794% 11/25/20340.1%
Carlisle Cos., Inc.2.750% 03/01/20300.1%
Westpac Banking Corp.4.110% 07/24/20340.1%
Michigan Fin Auth3.084% 12/01/20340.1%
Natixis Commercial Mortgage Securities Trust 2019-0.633% 10/15/20360.1%
Trimble Navigation Ltd.4.900% 06/15/20280.1%
Goldman Sachs Group, Inc.2.433% 02/23/20230.1%
Chesapeake Funding II LLC1.990% 05/15/20290.1%
World Omni Auto Receivables Trust 2017-A1.930% 09/15/20220.1%
CSMC 2020-AFC1 Trust2.240% 02/25/20500.1%
COMM 2015-DC1 Mortgage Trust4.311% 02/10/20480.1%
JPMorgan Chase & Co.4.600% 12/31/20990.1%
Kookmin Bank1.750% 05/04/20250.1%
AI Candelaria Spain SLU7.500% 12/15/20280.1%
COMM Mortgage Trust3.902% 07/10/20500.1%
Banco de Credito e Inversiones3.500% 10/12/20270.1%
Petroleos Mexicanos5.350% 02/12/20280.1%
PFP 2019-6 Ltd2.282% 04/14/20370.1%
Visa, Inc.1.900% 04/15/20270.1%
Scientific Games International, Inc.7.250% 11/15/20290.1%
JP Morgan Chase Commercial Mortgage Securities Cor1.934% 09/15/20290.1%
JP Morgan Chase Commercial Mortgage Securities Cor2.834% 09/15/20290.1%
Laredo Petroleum Holdings, Inc.9.500% 01/15/20250.1%
Neuberger Berman Group LLC4.875% 04/15/20450.1%
Volkswagen Group of America Finance LLC3.350% 05/13/20250.1%
Globo Comunicacao e Participacoes SA4.875% 01/22/20300.1%
JP Morgan Chase Commercial Mortgage Securities Cor3.534% 09/15/20290.1%
Citigroup, Inc.2.666% 01/29/20310.1%
JP Morgan Chase Commercial Mortgage Securities Cor4.534% 09/15/20290.1%
Diamondback Energy, Inc.3.500% 12/01/20290.1%
JP Morgan Chase Commercial Mortgage Securities Tru1.484% 06/15/20320.1%
Westlake Automobile Receivables Trust 2019-32.410% 10/15/20240.1%
Consolidated Communications, Inc.6.500% 10/01/20220.1%
MPH Acquisition Holdings LLC7.125% 06/01/20240.1%
Drive Auto Receivables Trust 2019-42.840% 11/17/20250.1%
MPT Operating Partnership L.P.5.000% 10/15/20270.1%
Deephaven Residential Mortgage Trust 2019-42.791% 10/25/20590.1%
SOUND POINT CLO XVII2.735% 10/20/20300.1%
JP Morgan Chase Commercial Mortgage Securities Cor5.534% 09/15/20290.1%
E*TRADE Financial Corp.3.800% 08/24/20270.1%
Ameriprise Financial, Inc.3.000% 04/02/20250.1%
Baxter International, Inc.3.750% 10/01/20250.1%
Walgreen Co.3.200% 04/15/20300.1%
Select Medical Corp.6.250% 08/15/20260.1%
Empresa Nacional del Petroleo3.750% 08/05/20260.1%
Bayer Corp6.650% 02/15/20280.1%
Radiology Partners Inc9.250% 02/01/20280.1%
Qatar Government International Bond5.103% 04/23/20480.1%
Stars Group Holdings BV / Stars Group US Co-Borrow7.000% 07/15/20260.1%
Citgo Holding, Inc.9.250% 08/01/20240.1%
Zayo Group Holdings, Inc.4.000% 03/01/20270.1%
Gap, Inc.8.625% 05/15/20250.1%
CSC Holdings LLC5.500% 04/15/20270.1%
IRB Holding Corp7.000% 06/15/20250.1%
BSPRT 2018-FL4 Issuer Ltd1.234% 09/15/20350.1%
Valeant Pharmaceuticals International, Inc.9.250% 04/01/20260.1%
Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor4.080% 12/15/20470.1%
Navistar International Corp.9.500% 05/01/20250.1%
Jackson Mill CLO Ltd.2.049% 04/15/20270.1%
PetSmart, Inc.8.875% 06/01/20250.1%
Freeport-McMoRan, Inc.4.125% 03/01/20280.1%
SCF Equipment Leasing 2019-2 LLC3.110% 06/21/20270.1%
World Omni Automobile Lease Securitization Trust 22.890% 11/15/20210.1%
Credit Acceptance Auto Loan Trust 2017-33.480% 10/15/20260.1%
TCF Auto Receivables Owner Trust 2016-PT11.930% 06/15/20220.1%
Westlake Automobile Receivables Trust 2019-13.450% 03/15/20240.1%
Leidos, Inc.7.125% 07/01/20320.1%
Avery Point VII CLO Ltd3.669% 01/15/20280.1%
Greywolf CLO IV Ltd3.085% 04/17/20300.1%
M360 2019-CRE2 LLC2.434% 09/15/20340.1%
Oaktree CLO 2014-11.724% 05/13/20290.1%
Sound Point Clo XII Ltd2.935% 10/20/20280.1%
Avery Point VII CLO Ltd2.969% 01/15/20280.1%
Jamestown CLO IX Ltd3.785% 10/20/20280.1%
Northwoods Capital 20 Ltd6.151% 01/25/20300.1%
Citigroup Commercial Mortgage Trust 2016-GC362.850% 02/10/20490.1%
KKR Clo 17 Ltd2.869% 04/15/20290.1%
San Antonio, TX3.527% 07/01/20400.1%
TransDigm, Inc.6.375% 06/15/20260.1%
Mountain View CLO 2017-1 LLC2.926% 10/16/20290.1%
CIT Group, Inc.6.125% 03/09/20280.1%
Hardee's Funding LLC5.710% 06/20/20480.1%
KKR CLO 18 Ltd2.835% 07/18/20300.1%
Carvana Auto Receivables Trust 2019-32.420% 04/15/20220.1%
Quicken Loans LLC5.750% 05/01/20250.1%
Tenet Healthcare Corp.6.250% 02/01/20270.1%
COMM Mortgage Trust4.430% 07/10/20500.1%
Trillium Credit Card Trust II0.518% 09/26/20230.1%
Drive Auto Receivables Trust 2019-42.320% 06/15/20220.1%
Permanent Univ Fnd - Texas A&M Univ Sys3.660% 07/01/20470.1%
United Rentals, Inc.4.875% 01/15/20280.1%
ALM VII Ltd4.769% 07/15/20290.1%
Westlake Automobile Receivables Trust 2018-23.500% 01/16/20240.1%
Banco do Brasil SA4.625% 01/15/20250.1%
Macquarie Group Ltd.4.654% 03/27/20290.1%
CSAIL 2019-C18 Commercial Mortgage Trust3.321% 12/15/20520.1%
UnitedHealth Group, Inc.2.900% 05/15/20500.1%
Gray Television, Inc.7.000% 05/15/20270.1%
Uber Technologies Inc8.000% 11/01/20260.1%
Cigna Corp2.550% 09/17/20210.1%
MEDNAX, Inc.6.250% 01/15/20270.1%
Cemig Geracao e Transmissao SA9.250% 12/05/20240.1%
Danske Bank A/S5.375% 01/12/20240.1%
Chinalco Capital Holdings Ltd4.000% 08/25/20210.1%
Hyundai Auto Receivables Trust 2019-B1.930% 07/15/20220.1%
ITC Holdings Corp.3.350% 11/15/20270.1%
Advocate Health & Hospitals Corp3.387% 10/15/20490.1%
Sinclair Broadcast Group, Inc.5.125% 02/15/20270.1%
Dominion Gas Holdings LLC4.600% 12/15/20440.1%
Nissan Auto Receivables 2017-C Owner Trust2.120% 04/18/20220.1%
Griffon Corp.5.750% 03/01/20280.1%
Foothill-Eastern Transp Corridor Agy, CA4.094% 01/15/20490.1%
Perusahaan Listrik Negara PT5.250% 10/24/20420.1%
AT&T, Inc.4.300% 02/15/20300.1%
ENI SpA5.700% 10/01/20400.1%
Springleaf Finance Corp.5.375% 11/15/20290.1%
Longfor Properties Co. Ltd.4.500% 01/16/20280.1%
Kernel Holding SA8.750% 01/31/20220.1%
Pertamina Persero PT4.700% 07/30/20490.1%
Prosus NV3.680% 01/21/20300.1%
Grupo de Inversiones Suramericana SA5.500% 04/29/20260.1%
Perusahaan Listrik Negara PT4.125% 05/15/20270.1%
Ford Credit Auto Owner Trust 2019-REV13.520% 07/15/20300.1%
COMM 2017-COR2 Mortgage Trust3.803% 09/10/20500.1%
PDC Energy, Inc.5.750% 05/15/20260.1%
Greenko Solar Mauritius Ltd5.950% 07/29/20260.1%
SURA Asset Management SA4.375% 04/11/20270.1%
Turkiye Vakiflar Bankasi Tao5.625% 05/30/20220.1%
CF Trust 2019-BOSS3.434% 12/15/20210.1%
Country Garden Holdings Co. Ltd.4.750% 09/28/20230.1%
Turkiye Garanti Bankasi AS5.875% 03/16/20230.1%
Carmax Auto Owner Trust 2019-32.210% 12/15/20220.1%
Kaisa Group Holdings Ltd.11.950% 10/22/20220.1%
Empresas Publicas de Medellin ESP4.250% 07/18/20290.1%
World Omni Automobile Lease Securitization Trust 22.830% 07/15/20210.1%
AmeriCredit Automobile Receivables Trust 2019-32.170% 01/18/20230.1%
California7.625% 03/01/20400.1%
Surgery Center Holdings, Inc.10.000% 04/15/20270.1%
MHP Lux SA6.950% 04/03/20260.1%
Pennsylvania Electric Co.3.600% 06/01/20290.1%
Cemex, S.A.B. de C.V.5.450% 11/19/20290.1%
New Jersey Edl Facs Auth3.636% 09/01/20290.1%
Egypt Government International Bond4.550% 11/20/20230.1%
Elm CLO 2014-1 Ltd2.885% 01/17/20290.1%
Deephaven Residential Mortgage Trust 2020-12.339% 01/25/20600.1%
SCF Equipment Leasing 2019-1 LLC3.230% 10/20/20240.1%
Eskom Holdings SOC Ltd.5.750% 01/26/20210.1%
Dominion Resources, Inc.7.000% 06/15/20380.1%
Starwood Mortgage Residential Trust 2020-12.275% 02/25/20500.1%
Mercedes-Benz Auto Lease Trust 2019-A3.100% 11/15/20210.1%
ViaSat, Inc.5.625% 04/15/20270.1%
BBCMS 2019-BWAY Mortgage Trust1.140% 11/25/20340.1%
Yuzhou Properties Co. Ltd.6.000% 10/25/20230.1%
Wells Fargo Commercial Mortgage Trust 2017-HSDB1.041% 12/13/20310.1%
Healthcare Trust of America Holdings LP3.100% 02/15/20300.1%
MEG Energy Corp.7.125% 02/01/20270.1%
Kaisa Group Holdings Ltd.9.375% 06/30/20240.1%
Constellation Brands, Inc.2.875% 05/01/20300.1%
MEG Energy Corp.7.000% 03/31/20240.1%
Republic of Turkey4.250% 04/14/20260.1%
CSN Resources SA7.625% 02/13/20230.1%
Wells Fargo Commercial Mortgage Trust 2014-LC163.817% 08/15/20500.1%
Prestige Auto Receivables Trust 2019-13.900% 05/15/20260.1%
Prima Capital CRE Securitization 2019-RK1 Ltd4.000% 04/15/20380.1%
Republic of Turkey5.250% 03/13/20300.1%
Century Communities, Inc.6.750% 06/01/20270.1%
ESH Hospitality, Inc.4.625% 10/01/20270.1%
Healthcare Realty Trust, Inc.2.400% 03/15/20300.1%
Hecla Mining Co.7.250% 02/15/20280.1%
PayPal Holdings, Inc.3.250% 06/01/20500.1%
BAMLL Trust4.420% 07/11/20330.1%
LMREC 2019-CRE3 Inc1.573% 12/22/20350.1%
Match Group, Inc.5.625% 02/15/20290.1%
BB-UBS Trust3.430% 11/05/20360.1%
Republic of Peru2.392% 01/23/20260.1%
Cheniere Corpus Christi Holdings LLC3.700% 11/15/20290.1%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.1%
Brink's Co/The4.625% 10/15/20270.1%
Assurant, Inc.3.700% 02/22/20300.1%
IDEX Corp.3.000% 05/01/20300.1%
Royal Caribbean Cruises Ltd.11.500% 06/01/20250.1%
Snap-on, Inc.3.100% 05/01/20500.1%
BX Commercial Mortgage Trust 2019-XL1.634% 10/15/20360.1%
Boyd Gaming Corp.4.750% 12/01/20270.1%
GCAT 2019-NQM2 Trust2.247% 01/25/20600.1%
Las Vegas Sands Corp.3.900% 08/08/20290.1%
COMM 2019-GC44 Mortgage Trust3.513% 08/15/20570.1%
Tenet Healthcare Corp.6.750% 06/15/20230.1%
Statoil ASA1.750% 01/22/20260.1%
Wells Fargo Commercial Mortgage Trust 2017-C413.785% 11/15/20500.1%
LifePoint Hospitals, Inc.6.750% 04/15/20250.1%
Micron Technology, Inc.2.497% 04/24/20230.1%
Yak Access LLC12.319% 07/10/20260.1%
GS Mortgage Securities Trust3.557% 04/10/20310.1%
CCO Holdings LLC / CCO Holdings Capital Corp.5.000% 02/01/20280.1%
OneMain Financial Issuance Trust 2019-13.480% 02/14/20310.1%
Aquarion Co.4.000% 08/15/20240.1%
BX Commercial Mortgage Trust 2019-XL1.434% 10/15/20360.1%
WPX Energy, Inc.5.250% 09/15/20240.1%
Dell International LLC / EMC Corp6.020% 06/15/20260.1%
Transportes Aereos Portugueses SA5.625% 12/02/20240.1%
Sysco Corp.6.600% 04/01/20400.1%
Fontainebleau Miami Beach Trust 2019-FBLU3.144% 12/10/20360.0%
Panther BF Aggregator 2 LP / Panther Finance Co In8.500% 05/15/20270.0%
Drive Auto Receivables Trust 2017-33.530% 12/15/20230.0%
SCF Equipment Leasing 2019-1 LLC3.920% 11/20/20260.0%
National Oilwell Varco, Inc.3.950% 12/01/20420.0%
Diamondback Energy, Inc.4.750% 05/31/20250.0%
Angel Oak Mortgage Trust 2020-12.466% 12/25/20590.0%
GS Mortgage Securities Corp Trust 2019-SMP0.587% 08/15/20320.0%
Cent CLO Ltd.2.171% 10/29/20250.0%
First Investors Auto Owner Trust 2018-23.230% 12/15/20220.0%
Toll Brothers Finance Corp.4.350% 02/15/20280.0%
California7.300% 10/01/20390.0%
Adventist Health System/West2.952% 03/01/20290.0%
Airxcel, Inc.4.674% 04/28/20250.0%
California Hlth Facs Fing Auth3.034% 06/01/20340.0%
CoreVest American Finance 2018-1 Trust3.804% 06/15/20510.0%
Mattel, Inc.5.450% 11/01/20410.0%
Great American Auto Leasing Inc 2019-13.210% 02/18/20250.0%
Chesapeake Funding II LLC1.910% 08/15/20290.0%
Netflix, Inc.3.625% 06/15/20250.0%
Warrior Met Coal Inc8.000% 11/01/20240.0%
GM Financial Automobile Leasing Trust 2019-22.670% 06/21/20210.0%
Fairstone Financial Issuance Trust I6.299% 03/21/20330.0%
New Residential Mortgage Loan Trust 2020-NQM12.464% 01/26/20600.0%
Prima Capital CRE Securitization 2019-RK1 Ltd4.450% 04/15/20380.0%
Zayo Group Holdings, Inc.6.125% 03/01/20280.0%
Pepperdine University3.301% 12/01/20590.0%
SURA Asset Management SA4.875% 04/17/20240.0%
First National Master Note Trust 2018-10.644% 10/15/20240.0%
Ford Credit Auto Owner Trust 2018-REV23.470% 01/15/20300.0%
OneMain Financial Issuance Trust 2018-23.570% 03/14/20330.0%
TAL Advantage VI LLC4.500% 04/20/20420.0%
Citigroup Commercial Mortgage Trust 2016-GC363.849% 02/10/20490.0%
JPMorgan Chase & Co.4.000% 12/31/20990.0%
BWAY 2015-1740 Mortgage Trust2.917% 01/10/20350.0%
Owens Corning7.000% 12/01/20360.0%
Wingstop Funding 2018-1 LLC4.970% 12/05/20480.0%
J.P. Morgan Chase Commercial Mortgage Securities T3.392% 06/05/20320.0%
CPS Auto Receivables Trust 2017-C3.790% 06/15/20230.0%
PFS Financing Corp.2.890% 02/15/20230.0%
West Town Mall Trust 2017-KNOX3.823% 07/05/20300.0%
JP Morgan Chase Commercial Mortgage Securities Tru3.621% 09/05/20320.0%
Longtrain Leasing III LLC 2015-14.060% 01/15/20450.0%
Genesis Sales Finance Master Trust Series 2019-A5.420% 08/20/20230.0%
American Credit Acceptance Receivables Trust 2019-3.050% 05/12/20230.0%
Commercial Mortgage Pass Through Certificates3.400% 10/05/20300.0%
NextGear Floorplan Master Owner Trust4.010% 10/15/20230.0%
BDS 2019-FL3 LTD1.572% 12/15/20350.0%
Planet Fitness Master Issuer LLC4.666% 09/05/20480.0%
GS Mortgage Securities Corp Trust 2018-RIVR1.134% 07/15/20350.0%
Residential Mortgage Loan Trust 2020-12.376% 02/25/20240.0%
Fontainebleau Miami Beach Trust 2019-FBLU3.447% 12/10/20360.0%
ACC Trust 2019-14.470% 10/20/20220.0%
Yum! Brands, Inc.7.750% 04/01/20250.0%
Exantas Capital Corp 2019-RSO7 Ltd1.171% 04/15/20360.0%
A10 Bridge Asset Financing LLC3.300% 05/15/20360.0%
Crown Castle International Corp.3.800% 02/15/20280.0%
Mohegan Tribal Gaming Authority7.875% 10/15/20240.0%
Exantas Capital Corp 2019-RSO7 Ltd1.671% 04/15/20360.0%
Atrium Hotel Portfolio Trust 2018-ATRM1.134% 06/15/20350.0%
Popular, Inc.6.125% 09/14/20230.0%
BX Commercial Mortgage Trust 2019-XL1.984% 10/15/20360.0%
COMM 2016-COR1 Mortgage Trust3.494% 10/10/20490.0%
Carrier Global Corp3.577% 04/05/20500.0%
Affiliated Managers Group, Inc.3.500% 08/01/20250.0%
BAMLL Commercial Mortgage Securities Trust 2019-AH1.784% 03/15/20340.0%
Eni USA Inc7.300% 11/15/20270.0%
BBCMS 2019-BWAY Mortgage Trust1.494% 11/25/20340.0%
Intertape Polymer Group Inc7.000% 10/15/20260.0%
BHP Trust 2019-BXHP2.751% 08/15/20360.0%
Mercedes-Benz Auto Lease Trust 2018-B3.210% 09/15/20210.0%
SLM Student Loan Trust 2007-31.051% 01/25/20220.0%
TRI Pointe Homes LLC5.250% 06/01/20270.0%
AMC Networks, Inc.4.750% 08/01/20250.0%
Exelon Generation Co. LLC5.600% 06/15/20420.0%
Ford Credit Floorplan Master Owner Trust A3.060% 04/15/20260.0%
California Republic Auto Receivables Trust 2017-12.910% 12/15/20220.0%
Capital Auto Receivables Asset Trust 2018-12.790% 01/20/20220.0%
Drive Auto Receivables Trust4.180% 03/15/20240.0%
NRG Energy, Inc.5.750% 01/15/20280.0%
Santander UK plc7.950% 10/26/20290.0%
Sinclair Broadcast Group, Inc.5.875% 03/15/20260.0%
Ashland, Inc.6.875% 05/15/20430.0%
BX Commercial Mortgage Trust 2018-BIOA0.855% 03/15/20370.0%
AT&T, Inc.2.891% 06/30/20200.0%
Drive Auto Receivables Trust 2017-13.840% 03/15/20230.0%
Sally Holdings LLC / Sally Capital, Inc.5.625% 12/01/20250.0%
Santander Drive Auto Receivables Trust 2017-32.760% 12/15/20220.0%
RETL 2019-RVP2.284% 03/15/20360.0%
Fresenius Medical Care US Finance II, Inc.4.750% 10/15/20240.0%
American Airlines Group, Inc.3.750% 03/01/20250.0%
Westlake Automobile Receivables Trust 2019-23.200% 11/15/20240.0%
COMM Mortgage Trust4.290% 07/10/20500.0%
BBCMS 2018-TALL Mortgage Trust2.621% 03/15/20370.0%
University of Chicago/The2.761% 04/01/20450.0%
1345 Avenue of the Americas & Park Avenue Plaza Tr5.278% 08/10/20350.0%
BX Trust 2018-GW0.984% 05/15/20350.0%
Natixis Commercial Mortgage Securities Trust 2018-3.790% 11/15/20320.0%
COMM Mortgage Trust4.430% 07/10/20500.0%
Natixis Commercial Mortgage Securities Trust 2018-3.790% 11/15/20320.0%
COMM Mortgage Trust4.349% 12/10/20470.0%
AutoNation, Inc.4.750% 06/01/20300.0%
Honda Auto Receivables 2019-1 Owner Trust2.750% 09/20/20210.0%
WFRBS Commercial Mortgage Trust4.884% 08/15/20450.0%
AREIT 2018-CRE2 Trust1.162% 11/14/20350.0%
WFRBS Commercial Mortgage Trust4.323% 03/15/20480.0%
Hilton Orlando Trust 2018-ORL1.884% 12/15/20340.0%
WPX Energy, Inc.8.250% 08/01/20230.0%
Toll Brothers Finance Corp.4.875% 03/15/20270.0%
Universal Health Services, Inc.4.750% 08/01/20220.0%
GM Financial Automobile Leasing Trust 2019-22.670% 03/21/20220.0%
The Royal Bank of Scotland Group PLC6.125% 12/15/20220.0%
SCF Equipment Leasing 2019-1 LLC3.040% 03/20/20230.0%
First Investors Auto Owner Trust 2019-12.890% 03/15/20240.0%
HealthSouth Corp.4.500% 02/01/20280.0%
ACC Trust 2018-14.820% 05/20/20210.0%
Citigroup, Inc.4.450% 09/29/20270.0%
Hilton Orlando Trust 2018-ORL0.954% 12/15/20340.0%
Surgery Center Holdings, Inc.6.750% 07/01/20250.0%
Ahern Rentals, Inc.7.375% 05/15/20230.0%
Summit Materials LLC5.125% 06/01/20250.0%
GS Mortgage Securities Trust4.512% 11/10/20470.0%
SCF Equipment Leasing 2018-1 LLC3.630% 10/20/20240.0%
Wells Fargo Commercial Mortgage Trust4.103% 05/15/20480.0%
SCF Equipment Leasing 2017-2 LLC3.410% 12/20/20230.0%
Enterprise Fleet Financing LLC2.870% 10/20/20230.0%
Charter Communications Operating LLC6.484% 10/23/20450.0%
SG Commercial Mortgage Securities Trust 2019-787E0.305% 02/15/20410.0%
JP Morgan Chase Commercial Mortgage Securities Tru3.350% 06/15/20350.0%
Orange Lake Timeshare Trust 2019-A3.060% 04/09/20380.0%
PHEAA Student Loan Trust I1.261% 04/25/20380.0%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.0%
Leidos, Inc.5.500% 07/01/20330.0%
JP Morgan Chase Commercial Mortgage Securities Cor4.613% 07/05/20310.0%
Fifth Third Auto Trust 2019-12.690% 11/16/20260.0%
Diamond Resorts Owner Trust4.110% 10/22/20290.0%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.0%
JP Morgan Chase Commercial Mortgage Securities Tru1.784% 06/15/20320.0%
Hardee's Funding LLC4.959% 06/20/20480.0%
WFRBS Commercial Mortgage Trust3.863% 03/15/20480.0%
JP Morgan Chase Commercial Mortgage Securities Tru1.553% 07/05/20330.0%
South Carolina Electric & Gas Co.6.050% 01/15/20380.0%
Motel 6 Trust 2017-MTL63.434% 08/15/20340.0%
World Financial Network Credit Card Master Trust2.660% 08/15/20240.0%
Orec 2018-CRE1 Ltd1.364% 06/15/20360.0%
Neuberger Berman Group LLC4.500% 03/15/20270.0%
Norbord, Inc.6.250% 04/15/20230.0%
Bank of America Corp.3.824% 01/20/20280.0%
E*TRADE Financial Corp.4.500% 06/20/20280.0%
ReadyCap Commercial Mortgage Trust 2018-43.390% 02/27/20510.0%
BMW Vehicle Lease Trust 2019-12.790% 03/22/20210.0%
Drive Auto Receivables Trust3.720% 09/16/20240.0%
BAT Capital Corp3.557% 08/15/20270.0%
Macquarie Bank Ltd.6.625% 04/07/20210.0%
AmeriCredit Automobile Receivables Trust 2017-22.970% 03/20/20230.0%
Citigroup Commercial Mortgage Trust 2016-P32.804% 04/15/20490.0%
Government National Mortgage Association2.650% 11/16/20500.0%
CPS Auto Receivables Trust 2018-A2.770% 04/18/20220.0%
JP Morgan Chase Commercial Mortgage Securities Tru3.805% 06/10/20270.0%
Exelon Generation Co. LLC6.250% 10/01/20390.0%
SLIDE 2018-FUN2.034% 06/15/20310.0%
TCF Auto Receivables Owner Trust 2016-PT12.920% 10/17/20220.0%
Quality Distribution, Inc.9.950% 08/18/20230.0%
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%
Orange Lake Timeshare Trust 2015-A2.880% 09/08/20270.0%
JP Morgan Chase Commercial Mortgage Securities Tru1.253% 07/05/20330.0%
JPMBB Commercial Mortgage Securities Trust4.269% 07/15/20480.0%
BCD Acquisition, Inc.9.625% 09/15/20230.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr2.020% 11/15/20350.0%
COMM Mortgage Trust4.430% 07/10/20500.0%
Time Warner Entertainment Co. L.P.8.375% 07/15/20330.0%
Dell International LLC / EMC Corp.5.450% 06/15/20230.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr2.350% 11/15/20350.0%
South Carolina Electric & Gas Co.6.625% 02/01/20320.0%
California Republic Auto Receivables Trust 2016-22.520% 05/16/20220.0%
PPL Corp.5.200% 07/15/20410.0%
Bank of America Corp.4.000% 01/22/20250.0%
Kinross Gold Corp.5.950% 03/15/20240.0%
JP Morgan Chase Commercial Mortgage Securities Tru2.829% 10/15/20450.0%
Flagship Credit Auto Trust 2017-32.590% 07/15/20220.0%
General Electric Co.2.121% 05/05/20260.0%
First Investors Auto Owner Trust2.410% 12/15/20220.0%
Flagship Credit Auto Trust 2018-12.590% 06/15/20220.0%
CarMax Auto Owner Trust2.880% 10/15/20210.0%
Americredit Automobile Receivables Trust 2018-30.432% 01/18/20220.0%
Americredit Automobile Receivables Trust 2018-33.110% 01/18/20220.0%
Ascentium Equipment Receivables 2017-1 Trust2.290% 06/10/20210.0%
Bancorp Commercial Mortgage 2018-CRE3 Trust/The1.034% 01/15/20330.0%
Flagship Credit Auto Trust 2017-42.070% 04/15/20220.0%
Tapstone Energy Holdings III, LLC0.000% 06/01/20220.0%
EURO-SCHATZ FUT JUN200.000% 06/10/20200.0%
US 10YR ULTRA FUT SEP200.000% 09/30/20200.0%
US 2YR NOTE (CBT) SEP200.000% 10/05/20200.0%
US 5YR NOTE (CBT) SEP200.000% 10/05/20200.0%
US LONG BOND(CBT) SEP200.000% 09/30/20200.0%
US ULTRA BOND CBT SEP200.000% 09/30/20200.0%
CAN 5YR FUT SEPT200.000% 09/30/20200.0%
Tapstone Energy LLC / Tapstone Energy Finance Corp0.000% -0.0%
FX USD/CAD 06/200.000% 06/15/20200.0%
FX USD/EUR 09/200.000% 09/04/20200.0%
Credit Index Swap1.000% 06/20/20250.0%

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

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 07/01/2020
$0.255
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 06/30/2020 $0.04432 $15.31
Daily Daily 05/31/2020 $0.04431 $15.16
Daily Daily 04/30/2020 $0.04658 $14.93
Daily Daily 03/31/2020 $0.04452 $14.64
Daily Daily 02/29/2020 $0.03838 $15.64
Daily Daily 01/31/2020 $0.03768 $15.54

Upcoming Dividend Payment Dates

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

Yield

Yield

Dividend Yield as of 07/01/2020  

  Subsidized Un-Subsidized
w/o sales charge 3.47% 3.03%
w/ sales charge 3.39% 2.96%

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

Subsidized Un-Subsidized
2.73% 2.64%

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 07/01/2020

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $15.68
$100,000 to $249,999 1.75% 1.50% $15.60
$250,000 to $499,999 1.25% 1.00% $15.52
$500,000 to $999,999 0.00% 1.00% $15.33
$1,000,000 to $5,000,000 0.00% 1.00% $15.33

The 12b-1 trail commission is 0.15% (accrues immediately) for all fixed-income and municipal income funds.

Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.

For Sales Charge Reductions and Waivers Click here.

SALES CHARGE REDUCTIONS AND WAIVERS

Please inform the fund company or your financial intermediary at the time of your purchase of fund shares if you believe you qualify for a reduced front-end sales charge.

Reducing Your Class A Share Front-End Sales Charge
You may purchase Class A shares at a discount if you qualify under the circumstances outlined below. To receive a reduced front-end sales charge, you must let the fund or your financial intermediary know at the time of your purchase of fund shares that you believe you qualify for a discount. If you or a related party have holdings of eligible funds (as defined below) in other accounts with your financial intermediary or with other financial intermediaries that may be combined with your current purchases in determining the sales charge as described below, you must inform a fund or your financial intermediary. You may be asked to provide supporting account statements or other information to allow us or your financial intermediary to verify your eligibility for a discount. If you or your financial intermediary do not notify a fund or provide the requested information, you may not receive the reduced sales charge for which you otherwise qualify. Class A shares may be purchased at a discount if you qualify under either of the following conditions:

  • Rights of Accumulation - A purchaser may combine the value of Class A, B, C, F, and P shares of any eligible fund currently owned with a new purchase of Class A shares of any eligible fund in order to reduce the sales charge on the new purchase. Class I, R2, and R3 share holdings may not be combined for these purposes.

    To the extent that your financial intermediary is able to do so, the value of Class A, B, C, F, and P shares of eligible funds determined for the purpose of reducing the sales charge of a new purchase under the Rights of Accumulation will be calculated at the higher of: 1) the aggregate current maximum offering price of your existing Class A, B, C, F, and P shares of eligible funds or 2) the aggregate amount you invested in such shares (including dividend reinvestments but excluding capital appreciation) less any withdrawals. You should retain any information and account records necessary to substantiate the historical amounts you and any related purchasers have invested in eligible funds. You must inform a fund and/or your financial intermediary at the time of purchase if you believe your purchase qualifies for a reduced sales charge; you may be requested to provide documentation of your holdings in order to verify your eligibility. If you do not do so, you may not receive all sales charge reductions for which you are eligible.

  • Letter of Intention — In order to reduce your Class A front-end sales charge, a purchaser may combine purchases of Class A, B, C, F, and P shares of any eligible fund the purchaser intends to make over the next 13 months in determining the applicable sales charge. The 13-month Letter of Intention period commences on the day that the Letter of Intention is received by a fund, and the purchaser must tell a fund that later purchases are subject to the Letter of Intention. Purchases submitted prior to the date the Letter of Intention is received by a fund are not counted toward the sales charge reduction. Current holdings under Rights of Accumulation may be included in a Letter of Intention in order to reduce the sales charge for purchases during the 13-month period covered by the Letter of Intention. Shares purchased through reinvestment of dividends or distributions are not included. Class I, R2, and R3 share holdings may not be combined for these purposes. Class A shares valued at 5% of the amount of intended purchases are escrowed and may be redeemed to cover the additional sales charges payable if the intended purchases under the Letter of Intention is not completed. The Letter of Intention is neither a binding obligation on you to buy nor on a fund to sell any or all of an intended purchase amount.

Purchaser — A purchaser includes: 1) an individual; 2) an individual, his or her spouse, and children under the age of 21; 3) retirement and benefit plans, including a 401(k) plan, profit-sharing plan, money purchase plan, defined benefit plan, and 457(b) plan sponsored by a governmental entity, nonprofit organization, school district, or church to which employer contributions are made, as well as SIMPLE IRA plans and SEP-IRA plans; or 4) a trustee or other fiduciary purchasing shares for a single trust, estate, or single fiduciary account. An individual may include under item (1) his or her holdings in eligible funds as described above in IRAs, as a sole participant of a retirement and benefit plan sponsored by the individual's business, and as a participant in a 403(b) plan to which only pretax salary deferrals are made. An individual and his or her spouse may include under item (2) their holdings in IRAs, and as the sole participants in retirement and benefit plans sponsored by a business owned by either or both of them. A retirement and benefit plan under item (3) includes all qualified retirement and benefit plans of a single employer and its consolidated subsidiaries, and all qualified retirement and benefit plans of multiple employers registered in the name of a single bank trustee.

Eligible fund — An eligible fund is any Lord Abbett-sponsored fund except for (1) each portfolio of Lord Abbett Series Fund, Inc., (2) Lord Abbett U.S. Government & Government Sponsored Enterprises Money Market Fund, Inc. ("Money Market Fund") (except for holdings in Money Market Fund, which are attributable to any shares exchanged from the Lord Abbett-sponsored funds), and (3) any other fund the shares of which are not available to the investor at the time of the transaction due to a limitation on the offering of a fund's shares.

Front-end Sales Charge Waivers
Class A shares may be purchased without a front-end sales charge under any of the following conditions:

  • purchases of $1 million or more (may be subject to a CDSC);
  • purchases by retirement and benefit plans with at least 100 eligible employees (may be subject to a CDSC);
  • purchases for retirement and benefit plans made through financial intermediaries that perform participant recordkeeping or other administrative services for the plans and that have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases (may be subject to a CDSC);
  • purchases made by or on behalf of financial intermediaries for clients that pay the financial intermediaries fees in connection with fee-based advisory program, provided that the financial intermediaries or their trading agents have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases; and
  • certain other types of investors may qualify to purchase Class A share without a front-end sales charge as described in the Statement of Additional Information (SAI).

 

Expense Ratioas of 05/31/2020

Expense ratio details, Click here.

Fund Documents

Fund Documents

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Publish Date:11/03/2015
Annual Report
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Publish Date:11/03/2015
Fact Sheet
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* Barron’s Top Fund Families of 2019, February 14, 2020, #5 in the Taxable Bond Category among 55 fund families. Based on the net total return of the one−year period ending 12/31/2019. #14 Overall ranking among 55 qualifying fund families based on the net total return of the one-year period ending 12/31/2019. Five-year Overall ranking is #30 out of 52 fund families; 10-year Overall ranking is #33 out of 45 fund families.

 

Source: Barron’s, “Barron’s Top Fund Families of 2019,” February 14, 2020. Barron’s rankings are based on asset weighted returns in funds in five categories: U.S. 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, 2019, 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 2019 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.

 

© Reuters 2020. All Rights Reserved. Lipper Analytical Services, Inc. is an independent mutual fund research and rating service. 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 A  Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

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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