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Core Plus Bond Fund

Daily price w/o sales charge as of 09/17/2019

$15.32

arrowUp$0.02

YTD Returns w/o sales charge as of 09/17/2019

8.56%

Overall Morningstar Ratings

Intermediate Core-Plus Bond
as of 08/31/2019

Morningstar rated the Lord Abbett Core Plus Bond Fund class A share 4 stars among 536 Intermediate Core-Plus Bond Funds for the overall rating and the 3 year periods ended 8/31/2019, respectively.

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 09/17/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 2.71% 1.00%
w/ sales charge 2.65% 0.97%

30-Day Standardized Yield 2 as of 08/31/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 2.19% 2.02%

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

Expense Ratioas of 08/31/2019

Expense ratio details, Click here.

Fund Basicsas of 08/30/2019

Total Net Assets
$129.36 M
Inception Date
12/08/2015
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
539
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

Gross 2.39%

Net 0.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 9.69% 9.54% 3.80% - - 4.87%
Lipper Category Avg. Core Plus Bond Funds 9.33% 9.55% 3.45% - - -
Bloomberg Barclays U.S. Universal Index 9.27% 10.08% 3.39% - - 4.41%
w/ sales charge 7.24% 7.06% 3.01% - - 4.23%

Fund Expense Ratio :

Gross 2.39%

Net 0.68%

Fund Expense Ratio :

Gross 2.39%

Net 0.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 7.32% 8.03% 3.73% - - 4.46%
Lipper Category Avg. Core Plus Bond Funds 6.77% 7.75% 3.07% - - -
Bloomberg Barclays U.S. Universal Index 6.54% 8.07% 2.84% - - 3.89%
w/ sales charge 4.93% 5.58% 2.95% - - 3.80%

Fund Expense Ratio :

Gross 2.39%

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
MBS
Investment Grade Corporate
U.S. Government Related
ABS
CMBS
High Yield Corporate
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 08/30/2019 View Portfolio

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

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

Investment Team

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

25 Years of Industry Experience

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

Partner & Portfolio Manager

21 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

18 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

28 Years of Industry Experience

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

Contact a Representative

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

Performance

Performance

Dividend Yield 1 as of 09/17/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 2.71% 1.00%
w/ sales charge 2.65% 0.97%

30-Day Standardized Yield 2 as of 08/31/2019  

  Subsidized5 Un-Subsidized6
w/o sales charge 2.19% 2.02%

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

Fund Expense Ratio :

Gross 2.39%

Net 0.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 9.69% 9.54% 3.80% - - 4.87%
Lipper Category Avg. Core Plus Bond Funds 9.33% 9.55% 3.45% - - -
Bloomberg Barclays U.S. Universal Index 9.27% 10.08% 3.39% - - 4.41%
w/ sales charge 7.24% 7.06% 3.01% - - 4.23%

Fund Expense Ratio :

Gross 2.39%

Net 0.68%

Fund Expense Ratio :

Gross 2.39%

Net 0.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge 7.32% 8.03% 3.73% - - 4.46%
Lipper Category Avg. Core Plus Bond Funds 6.77% 7.75% 3.07% - - -
Bloomberg Barclays U.S. Universal Index 6.54% 8.07% 2.84% - - 3.89%
w/ sales charge 4.93% 5.58% 2.95% - - 3.80%

Fund Expense Ratio :

Gross 2.39%

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
MBS
Investment Grade Corporate
U.S. Government Related
ABS
CMBS
High Yield Corporate
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 08/30/2019

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

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

Portfolio Positioningas of 6/30/2019

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

Portfolio Details as of 08/30/2019

Total Net Assets
$129.36 M
Number of Issues
539
Average Coupon
3.62%
Average Life
7.40 Years
Average Maturity
7.40 Years
Average Effective Duration
5.40 Years
Average Modified Duration
6.12 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 SEP 3.500% 12/01/2048 21.0%
United States Treasury Bill 0.000% 11/21/2019 7.4%
30-YR UMBS-TBA PROD SEP 3.000% 03/01/2049 5.2%
U.S. Treasury Note/Bond 1.500% 08/31/2021 4.0%
Federal Home Loan Bank 0.000% 11/05/2019 4.0%
U.S. Treasury Note/Bond 1.250% 08/31/2024 2.8%
U.S. Treasury Note/Bond 1.625% 08/15/2029 2.7%
30-YR UMBS-TBA PROD SEP 4.000% 12/01/2048 2.6%
U.S. Treasury Note/Bond 2.875% 05/15/2049 2.5%
Federal Home Loan Bank 0.000% 09/06/2019 1.9%
% of Total Assets 54.1%

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

Holding Coupon Maturity Assets
Fannie Mae or Freddie Mac3.500% 08/01/204912.9%
U.S. Treasury Note/Bond2.500% 01/31/20219.5%
United States Treasury Bill0.000% 08/27/20196.7%
Fannie Mae or Freddie Mac4.000% 08/01/20496.6%
Fannie Mae or Freddie Mac3.000% 08/01/20495.0%
U.S. Treasury Note/Bond1.750% 06/30/20243.5%
Federal Home Loan Bank0.000% 09/06/20193.0%
U.S. Treasury Note0.625% 04/15/20232.9%
U.S. Treasury Note/Bond2.625% 02/15/20292.3%
U.S. Treasury Note/Bond3.000% 02/15/20492.0%
U.S. Treasury Note/Bond1.750% 07/31/20241.9%
Bank of America Corp.3.593% 07/21/20280.7%
Citigroup, Inc.3.887% 01/10/20280.7%
Carvana Auto Receivables Trust 2019-15.640% 01/15/20260.6%
Perimeter Master Note Business Trust6.020% 12/15/20220.6%
CPS Auto Receivables Trust 2019-C4.300% 07/15/20250.6%
General Motors Co.6.600% 04/01/20360.6%
Broadcom Inc3.625% 10/15/20240.6%
Foursight Capital Automobile Receivables Trust 2015.560% 01/16/20240.6%
JPMorgan Chase & Co.3.782% 02/01/20280.6%
UBS AG Registered Shares5.125% 05/15/20240.5%
Anheuser-Busch InBev Worldwide, Inc.4.750% 01/23/20290.5%
CNAC HK Finbridge Co Ltd3.500% 07/19/20220.5%
COMM Mortgage Trust4.440% 07/10/20500.5%
Republic of Argentina6.875% 04/22/20210.5%
Discover Financial Services4.100% 02/09/20270.4%
AT&T, Inc.6.000% 08/15/20400.4%
AerCap Ireland Capital Ltd.4.875% 01/16/20240.4%
VEREIT Operating Partnership L.P.4.875% 06/01/20260.4%
Dell International LLC / EMC Corp.8.350% 07/15/20460.4%
Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor4.080% 12/15/20470.4%
Morgan Stanley3.625% 01/20/20270.4%
Sabine Pass Liquefaction LLC5.875% 06/30/20260.3%
Time Warner Cable LLC7.300% 07/01/20380.3%
Wabtec Corp.4.700% 09/15/20280.3%
Bacardi Ltd.4.700% 05/15/20280.3%
Japan Bank for International Cooperation/Japan2.125% 02/10/20250.3%
General Electric Co.6.150% 08/07/20370.3%
Nvent Finance Sarl4.550% 04/15/20280.3%
Greywolf CLO IV Ltd4.538% 04/17/20300.3%
Credit Acceptance Auto Loan Trust 2017-33.480% 10/15/20260.3%
Oaktree CLO 2014-13.825% 05/13/20290.3%
Newark BSL CLO 1 Ltd3.776% 12/21/20290.3%
Avery Point VII CLO Ltd4.753% 01/15/20280.3%
Benefit Street Partners CLO X Ltd3.793% 01/15/20290.3%
Avery Point VII CLO Ltd4.053% 01/15/20280.3%
Sound Point Clo XII Ltd4.078% 10/20/20280.3%
OHA Loan Funding 2016-1 Ltd4.078% 01/20/20280.3%
Jamestown CLO IX Ltd0.000% 10/20/20280.3%
CIFC Funding 2017-I Ltd3.638% 04/23/20290.3%
Ares XLI Clo Ltd0.000% 01/15/20290.3%
Westlake Automobile Receivables Trust 2019-13.450% 03/15/20240.3%
Citigroup Commercial Mortgage Trust 2016-GC362.850% 02/10/20490.3%
Kerr-McGee Corp.7.875% 09/15/20310.3%
Glencore Finance Canada Ltd.5.550% 10/25/20420.3%
Goldman Sachs Group, Inc.6.250% 02/01/20410.3%
Westlake Automobile Receivables Trust 2018-23.500% 01/16/20240.3%
General Electric Co.5.000% 12/31/20990.3%
Japan Bank for International Cooperation/Japan2.500% 05/23/20240.3%
Ghana Government International Bond7.875% 08/07/20230.3%
Macquarie Group Ltd.4.654% 03/27/20290.3%
Teachers Insurance & Annuity Association of Americ4.900% 09/15/20440.3%
Bahamas Government International Bond6.000% 11/21/20280.3%
Sprint Capital Corp.6.875% 11/15/20280.3%
CSN Resources SA7.625% 02/13/20230.3%
Valero Energy Corp.10.500% 03/15/20390.3%
Danske Bank A/S5.375% 01/12/20240.3%
Perusahaan Listrik Negara PT5.250% 10/24/20420.3%
Anglo American Capital plc4.750% 04/10/20270.3%
Mexichem SAB de CV4.875% 09/19/20220.3%
Match Group, Inc.5.625% 02/15/20290.3%
Kenya Government International Bond7.000% 05/22/20270.3%
Saudi Government International Bond3.625% 03/04/20280.3%
MHP Lux SA6.950% 04/03/20260.3%
Alibaba Group Holding Ltd.3.600% 11/28/20240.3%
Egypt Government International Bond6.125% 01/31/20220.3%
Qatar Government International Bond3.250% 06/02/20260.3%
Imperial Tobacco Finance plc3.875% 07/26/20290.3%
Turkiye Garanti Bankasi AS6.250% 04/20/20210.3%
Empresas Publicas de Medellin ESP4.250% 07/18/20290.3%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl4.700% 02/01/20360.3%
Cox Communications, Inc.8.375% 03/01/20390.3%
Cent CLO Ltd.3.586% 10/29/20250.3%
Sri Lanka (Democratic Socialist Republic of)6.250% 07/27/20210.3%
Saudi Arabian Oil Co2.875% 04/16/20240.3%
Braskem Netherlands Finance BV4.500% 01/10/20280.3%
NRG Energy, Inc.4.450% 06/15/20290.3%
Eskom Holdings SOC Ltd.5.750% 01/26/20210.2%
Elm CLO 2014-1 Ltd4.053% 01/17/20290.2%
Country Garden Holdings Co. Ltd.4.750% 09/28/20230.2%
AT&T, Inc.6.100% 07/15/20400.2%
Wells Fargo Commercial Mortgage Trust 2017-HSDB3.175% 12/13/20310.2%
Pertamina Persero PT4.700% 07/30/20490.2%
Patterson-UTI Energy, Inc.3.950% 02/01/20280.2%
Reynolds American, Inc.5.700% 08/15/20350.2%
Owens Corning7.000% 12/01/20360.2%
Toronto-Dominion Bank3.625% 09/15/20310.2%
Burlington Northern Santa Fe LLC5.750% 05/01/20400.2%
Netflix, Inc.6.375% 05/15/20290.2%
CSMC 2017-HD Trust3.275% 02/15/20310.2%
Royal Caribbean Cruises Ltd.7.500% 10/15/20270.2%
Time Warner Cable LLC6.550% 05/01/20370.2%
BB-UBS Trust3.430% 11/05/20360.2%
Ford Motor Co.7.450% 07/16/20310.2%
Capital Auto Receivables Asset Trust 2018-12.790% 01/20/20220.2%
Wells Fargo Capital X5.950% 12/15/20360.2%
Ally Financial, Inc.8.000% 11/01/20310.2%
Apache Corp.5.100% 09/01/20400.2%
Brink's Co/The4.625% 10/15/20270.2%
Wells Fargo Commercial Mortgage Trust 2014-LC163.817% 08/15/20500.2%
LMREC 2019-CRE3 Inc3.782% 12/22/20350.2%
BAMLL Trust4.420% 07/11/20330.2%
GE Capital Credit Card Master Note Trust1.760% 09/15/20220.2%
BAT Capital Corp4.390% 08/15/20370.2%
EPR Properties4.500% 06/01/20270.2%
Apache Corp.4.750% 04/15/20430.2%
Trimble Navigation Ltd.4.900% 06/15/20280.2%
Neuberger Berman Group LLC4.875% 04/15/20450.2%
GS Mortgage Securities Trust3.557% 04/10/20310.2%
Ecopetrol S.A.4.125% 01/16/20250.2%
Protective Life Corp.8.450% 10/15/20390.2%
Drive Auto Receivables Trust 2017-33.530% 12/15/20230.2%
AerCap Ireland Capital Ltd.3.650% 07/21/20270.2%
E*TRADE Financial Corp.3.800% 08/24/20270.2%
Walt Disney Co/The7.750% 12/01/20450.2%
SCF Equipment Leasing 2019-1 LLC3.920% 11/20/20260.2%
SM Energy Co.6.625% 01/15/20270.2%
Stars Group Holdings BV / Stars Group US Co-Borrow7.000% 07/15/20260.2%
Cliffs Natural Resources, Inc.5.750% 03/01/20250.2%
Dominion Gas Holdings LLC4.600% 12/15/20440.2%
MEG Energy Corp.7.000% 03/31/20240.2%
United Rentals, Inc.4.875% 01/15/20280.2%
OneMain Financial Issuance Trust 2019-13.480% 02/14/20310.2%
JBS USA LUX SA / JBS USA Food Co / JBS USA Finance6.500% 04/15/20290.2%
PSEG Power LLC8.625% 04/15/20310.2%
Petrobras Global Finance BV5.299% 01/27/20250.2%
CoreVest American Finance 2018-1 Trust3.804% 06/15/20510.2%
Intelsat Jackson Holdings SA8.500% 10/15/20240.2%
AMC Networks, Inc.4.750% 08/01/20250.2%
Aquarion Co.4.000% 08/15/20240.2%
Petroleos Mexicanos5.350% 02/12/20280.2%
Exeter Automobile Receivables Trust 2017-33.680% 07/17/20230.2%
Republic of Argentina7.500% 04/22/20260.2%
Dollar Tree, Inc.4.200% 05/15/20280.2%
Halliburton Co.6.700% 09/15/20380.2%
TransDigm, Inc.6.375% 06/15/20260.2%
Berkshire Hathaway Energy Co.3.800% 07/15/20480.2%
Dell International LLC / EMC Corp6.020% 06/15/20260.2%
CCO Holdings LLC / CCO Holdings Capital Corp.5.000% 02/01/20280.2%
Air Lease Corp.3.625% 12/01/20270.2%
CIT Group, Inc.6.125% 03/09/20280.2%
Pentair Finance SA3.150% 09/15/20220.2%
Gray Television, Inc.7.000% 05/15/20270.2%
A10 Bridge Asset Financing LLC3.300% 05/15/20360.1%
AXIS Specialty Finance LLC3.900% 07/15/20290.1%
Goldman Sachs Group, Inc.4.223% 05/01/20290.1%
Citigroup, Inc.3.980% 03/20/20300.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.6.250% 11/01/20280.1%
TAL Advantage VI LLC4.500% 04/20/20420.1%
ENI SpA5.700% 10/01/20400.1%
Exelon Generation Co. LLC6.250% 10/01/20390.1%
Dominion Resources, Inc.7.000% 06/15/20380.1%
Fidelity National Financial Group4.500% 08/15/20280.1%
Morgan Stanley4.000% 07/23/20250.1%
Fairstone Financial Issuance Trust I6.299% 03/21/20330.1%
Schlumberger Holdings Corp.4.300% 05/01/20290.1%
Wyndham Worldwide Corp.5.750% 04/01/20270.1%
Sinclair Broadcast Group, Inc.5.125% 02/15/20270.1%
Penn National Gaming, Inc.5.625% 01/15/20270.1%
Great American Auto Leasing Inc 2019-13.210% 02/18/20250.1%
Fifth Third Auto Trust 2019-12.660% 05/16/20220.1%
Williams Scotsman International Inc6.875% 08/15/20230.1%
Navient Corp.6.750% 06/25/20250.1%
Planet Fitness Master Issuer LLC4.666% 09/05/20480.1%
Hyundai Floorplan Master Owner Trust2.680% 04/15/20240.1%
SURA Asset Management SA4.875% 04/17/20240.1%
Vistra Operations Co LLC4.300% 07/15/20290.1%
Chemours Co.4.000% 05/15/20260.1%
Polaris Intermediate Corp8.500% 12/01/20220.1%
First National Master Note Trust 2018-12.785% 10/15/20240.1%
J.P. Morgan Chase Commercial Mortgage Securities T3.392% 06/05/20320.1%
Caesars Palace Las Vegas Trust 2017-VICI4.138% 10/15/20340.1%
EPR Properties4.950% 04/15/20280.1%
Wells Fargo Commercial Mortgage Trust 2016-C354.176% 07/15/20480.1%
CSMC Trust3.811% 11/15/20340.1%
Citigroup Commercial Mortgage Trust3.251% 05/10/20350.1%
Longtrain Leasing III LLC 2015-14.060% 01/15/20450.1%
OneMain Financial Issuance Trust 2018-23.570% 03/14/20330.1%
NextGear Floorplan Master Owner Trust4.010% 10/15/20230.1%
BWAY 2015-1740 Mortgage Trust2.917% 01/10/20350.1%
Honda Auto Receivables 2019-1 Owner Trust2.750% 09/20/20210.1%
West Town Mall Trust 2017-KNOX3.823% 07/05/20300.1%
American Express Credit Account Master Trust3.070% 10/15/20240.1%
ACC Trust 2019-14.470% 10/20/20220.1%
Genesis Sales Finance Master Trust Series 2019-A5.420% 08/20/20230.1%
Textainer Marine Containers VII Ltd3.960% 04/20/20440.1%
Commercial Mortgage Pass Through Certificates3.400% 10/05/20300.1%
CPS Auto Receivables Trust 2017-C3.790% 06/15/20230.1%
Prestige Auto Receivables Trust 2019-13.900% 05/15/20260.1%
BAMLL Commercial Mortgage Securities Trust 2019-AH3.925% 03/15/20340.1%
JP Morgan Chase Commercial Mortgage Securities Tru3.621% 09/05/20320.1%
PFS Financing Corp.2.890% 02/15/20230.1%
ACC Trust 2018-14.820% 05/20/20210.1%
BDS 2019-FL3 LTD3.832% 12/15/20350.1%
GS Mortgage Securities Corp Trust 2018-RIVR3.275% 07/15/20350.1%
Exantas Capital Corp 2019-RSO7 Ltd3.814% 04/15/20360.1%
Atrium Hotel Portfolio Trust 2018-ATRM3.275% 06/15/20350.1%
Exantas Capital Corp 2019-RSO7 Ltd3.314% 04/15/20360.1%
DBWF 2018-GLKS Mortgage Trust3.328% 11/19/20350.1%
Barclays Dryrock Issuance Trust2.410% 07/15/20220.1%
CPS Auto Receivables Trust 2018-A2.770% 04/18/20220.1%
Ford Credit Auto Owner Trust 2014-REV22.310% 04/15/20260.1%
Synchrony Credit Card Master Note Trust2.640% 03/15/20230.1%
Synchrony Credit Card Master Note Trust1.580% 09/15/20220.1%
Royal Caribbean Cruises Ltd.3.700% 03/15/20280.1%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.1%
Popular, Inc.6.125% 09/14/20230.1%
American Credit Acceptance Receivables Trust 2019-3.050% 05/12/20230.1%
Caesars Palace Las Vegas Trust 2017-VICI3.835% 10/15/20340.1%
Valeant Pharmaceuticals International, Inc.9.250% 04/01/20260.1%
Drive Auto Receivables Trust 2017-13.840% 03/15/20230.1%
BX Trust 2017-SLCT3.525% 07/15/20340.1%
Tronox Inc6.500% 04/15/20260.1%
Towd Point Asset Trust 2018-SL13.241% 12/25/20480.1%
Cardtronics Inc / Cardtronics USA Inc5.500% 05/01/20250.1%
California Resources Corp.8.000% 12/15/20220.1%
Eni USA Inc7.300% 11/15/20270.1%
SLM Student Loan Trust 2007-32.343% 01/25/20220.1%
Pentair Finance SA4.500% 07/01/20290.1%
Orchestra Borrower LLC / Orchestra Co-Issuer Inc6.750% 06/15/20220.1%
Verizon Communications, Inc.3.784% 05/15/20250.1%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.1%
AT&T, Inc.6.250% 03/29/20410.1%
Petroleos Mexicanos4.500% 01/23/20260.1%
AREIT 2018-CRE2 Trust3.312% 11/14/20350.1%
SCF Equipment Leasing 2019-1 LLC3.040% 03/20/20230.1%
GM Financial Automobile Leasing Trust 2019-22.670% 06/21/20210.1%
Drive Auto Receivables Trust 2017-32.800% 07/15/20220.1%
Morgan Stanley3.875% 01/27/20260.1%
Intertape Polymer Group Inc7.000% 10/15/20260.1%
Affiliated Managers Group, Inc.3.500% 08/01/20250.1%
Barrick North America Finance LLC7.500% 09/15/20380.1%
Century Communities, Inc.6.750% 06/01/20270.1%
Ahern Rentals, Inc.7.375% 05/15/20230.1%
William Lyon Homes, Inc.5.875% 01/31/20250.1%
Broadcom Corp. / Broadcom Cayman Finance Ltd.3.625% 01/15/20240.1%
National Oilwell Varco, Inc.3.950% 12/01/20420.1%
Pulte Group, Inc.7.875% 06/15/20320.1%
Transocean Proteus Ltd.6.250% 12/01/20240.1%
ME Funding LLC 2019-16.448% 07/30/20490.1%
Ford Credit Floorplan Master Owner Trust A3.060% 04/15/20260.1%
TRI Pointe Homes LLC5.250% 06/01/20270.1%
First Investors Auto Owner Trust 2019-12.890% 03/15/20240.1%
Enterprise Fleet Financing LLC2.870% 10/20/20230.1%
Freeport-McMoRan, Inc.3.875% 03/15/20230.1%
Airxcel, Inc.7.252% 04/28/20250.1%
Exelon Generation Co. LLC5.600% 06/15/20420.1%
Sinclair Broadcast Group, Inc.5.875% 03/15/20260.1%
Stonemont Portfolio Trust 2017-STONE5.872% 08/20/20300.1%
Yak Access LLC12.319% 07/10/20260.1%
California Republic Auto Receivables Trust 2017-12.910% 12/15/20220.1%
Stonemont Portfolio Trust 2017-STONE5.022% 08/20/20300.1%
Drive Auto Receivables Trust3.660% 11/15/20240.1%
Tesla Motors, Inc.5.300% 08/15/20250.1%
Drive Auto Receivables Trust 2019-22.930% 03/15/20220.1%
American Credit Acceptance Receivables Trust 2016-6.090% 05/12/20220.1%
Santander UK plc7.950% 10/26/20290.1%
American Express Credit Account Master Trust2.775% 09/16/20240.1%
Capital One Multi-Asset Execution Trust2.835% 09/16/20240.1%
Wells Fargo Commercial Mortgage Trust4.285% 07/15/20460.1%
RETL 2019-RVP4.425% 03/15/20360.1%
BX Commercial Mortgage Trust 2018-BIOA2.996% 03/15/20370.1%
ProAmpac PG Borrower LLC5.897% 11/20/20230.1%
Aqua America, Inc.3.566% 05/01/20290.1%
Bill Barrett Corp.7.000% 10/15/20220.1%
Ashland, Inc.6.875% 05/15/20430.1%
JP Morgan Chase Commercial Mortgage Securities Tru3.805% 06/10/20270.1%
SCF Equipment Leasing 2018-1 LLC3.630% 10/20/20240.1%
Westlake Automobile Receivables Trust 2018-12.670% 05/17/20210.1%
BBCMS 2018-TALL Mortgage Trust4.762% 03/15/20370.1%
Tenet Healthcare Corp.6.250% 02/01/20270.1%
Republic of Argentina5.875% 01/11/20280.1%
Calpine Corp.5.750% 01/15/20250.1%
Toll Brothers Finance Corp.4.350% 02/15/20280.1%
Vulcan Materials Co.4.700% 03/01/20480.1%
DISH DBS Corp.7.750% 07/01/20260.1%
MPT Operating Partnership L.P.5.000% 10/15/20270.1%
Eoc Group Inc5.484% 02/28/20250.1%
International Lease Finance Corp.5.875% 08/15/20220.1%
Fresenius Medical Care US Finance II, Inc.4.750% 10/15/20240.1%
RegionalCare Hospital Partners Holdings Inc / Life9.750% 12/01/20260.1%
Energy Transfer Operating LP6.125% 12/15/20450.1%
Pennsylvania Electric Co.3.600% 06/01/20290.1%
Westlake Automobile Receivables Trust 2019-23.200% 11/15/20240.1%
COMM Mortgage Trust4.290% 07/10/20500.1%
Piedmont Natural Gas Co., Inc.3.500% 06/01/20290.1%
Wells Fargo Commercial Mortgage Trust4.112% 05/15/20480.1%
Continental Resources, Inc.4.900% 06/01/20440.1%
AbbVie, Inc.4.875% 11/14/20480.1%
Hilton Orlando Trust 2018-ORL4.025% 12/15/20340.1%
1345 Avenue of the Americas & Park Avenue Plaza Tr5.278% 08/10/20350.1%
BX Trust 2018-GW3.125% 05/15/20350.1%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.1%
SCF Equipment Leasing 2017-2 LLC3.410% 12/20/20230.1%
JP Morgan Chase Commercial Mortgage Securities Tru4.425% 06/15/20320.1%
Sabine Pass Liquefaction LLC5.625% 03/01/20250.1%
COMM Mortgage Trust4.440% 07/10/20500.1%
IRB Holding Corp6.750% 02/15/20260.1%
COMM Mortgage Trust4.349% 12/10/20470.1%
WFRBS Commercial Mortgage Trust4.890% 08/15/20450.1%
Natixis Commercial Mortgage Securities Trust 2018-3.790% 11/15/20320.1%
WFRBS Commercial Mortgage Trust4.322% 03/15/20480.1%
Natixis Commercial Mortgage Securities Trust 2018-3.790% 11/15/20320.1%
GS Mortgage Securities Trust4.520% 11/10/20470.1%
Chesapeake Funding II LLC1.910% 08/15/20290.1%
JP Morgan Chase Commercial Mortgage Securities Tru5.325% 06/15/20350.1%
Drive Auto Receivables Trust5.150% 08/15/20220.1%
Nine Energy Service Inc8.750% 11/01/20230.1%
U.S. Treasury Note/Bond2.750% 11/15/20470.1%
BMW Vehicle Lease Trust 2019-12.790% 03/22/20210.1%
Orange Lake Timeshare Trust 2019-A3.060% 04/09/20380.1%
GM Financial Automobile Leasing Trust 2017-32.010% 11/20/20200.1%
Chesapeake Funding II LLC1.990% 05/15/20290.1%
Oglethorpe Power Corp.5.050% 10/01/20480.1%
Mercedes-Benz Auto Lease Trust 2018-B3.040% 12/15/20200.1%
Universal Health Services, Inc.4.750% 08/01/20220.1%
Toll Brothers Finance Corp.4.875% 03/15/20270.1%
Pyxus International Inc9.875% 07/15/20210.1%
Ecopetrol S.A.5.875% 05/28/20450.1%
GM Financial Automobile Leasing Trust 2019-22.670% 03/21/20220.1%
Asbury Automotive Group, Inc.6.000% 12/15/20240.1%
Hilton Orlando Trust 2018-ORL3.095% 12/15/20340.1%
Capital Auto Receivables Asset Trust3.340% 03/22/20210.1%
Embraer Netherlands Finance BV5.050% 06/15/20250.1%
Dell International LLC / EMC Corp7.125% 06/15/20240.1%
Access Point Funding I 2017-1 LLC3.060% 04/15/20290.1%
The Royal Bank of Scotland Group PLC6.125% 12/15/20220.1%
California Republic Auto Receivables Trust2.530% 06/15/20210.1%
Shelter Growth CRE 2018-FL1 Issuer Ltd3.325% 01/15/20350.1%
Citigroup, Inc.4.450% 09/29/20270.1%
Summit Materials LLC5.125% 06/01/20250.1%
Diamond Resorts Owner Trust4.110% 10/22/20290.1%
Banff Merger Sub Inc9.750% 09/01/20260.0%
Surgery Center Holdings, Inc.6.750% 07/01/20250.0%
Bayer Corp6.650% 02/15/20280.0%
Lamb Weston Holdings, Inc.4.875% 11/01/20260.0%
Citgo Holding, Inc.10.750% 02/15/20200.0%
Delphi Automotive plc4.350% 03/15/20290.0%
JP Morgan Chase Commercial Mortgage Securities Tru3.325% 06/15/20320.0%
Government National Mortgage Association2.700% 08/16/20580.0%
Interstate Power & Light Co3.600% 04/01/20290.0%
JP Morgan Chase Commercial Mortgage Securities Tru3.925% 06/15/20320.0%
Caesars Palace Las Vegas Trust 2017-VICI3.531% 10/15/20340.0%
PHEAA Student Loan Trust I2.546% 04/25/20380.0%
SG Commercial Mortgage Securities Trust 2019-787E0.305% 02/15/20410.0%
MEG Energy Corp.6.375% 01/30/20230.0%
YPF S.A.8.500% 03/23/20210.0%
Vale Overseas Ltd.6.250% 08/10/20260.0%
Ortho-Clinical Diagnostics Inc / Ortho-Clinical Di6.625% 05/15/20220.0%
PGT Escrow Issuer Inc6.750% 08/01/20260.0%
Fibria Overseas Finance Ltd.4.000% 01/14/20250.0%
Government National Mortgage Association2.750% 02/16/20580.0%
Charter Communications Operating LLC6.484% 10/23/20450.0%
Las Vegas Sands Corp.3.900% 08/08/20290.0%
Government National Mortgage Association2.700% 04/16/20570.0%
Interest Rate Swap0.000% 04/01/20210.0%
JP Morgan Chase Commercial Mortgage Securities Cor4.613% 07/05/20310.0%
CarMax Auto Owner Trust2.880% 10/15/20210.0%
Government National Mortgage Association2.600% 06/16/20570.0%
DLL 2018-2 LLC3.140% 10/20/20200.0%
AT&T, Inc.6.200% 03/15/20400.0%
Motel 6 Trust 2017-MTL65.575% 08/15/20340.0%
ReadyCap Commercial Mortgage Trust 2018-43.390% 02/27/20510.0%
Santander Drive Auto Receivables Trust 2015-23.020% 04/15/20210.0%
Pulte Group, Inc.5.500% 03/01/20260.0%
Chesapeake Funding II LLC1.880% 06/15/20280.0%
Hardee's Funding LLC4.959% 06/20/20480.0%
World Financial Network Credit Card Master Trust1.980% 06/15/20230.0%
Fifth Third Auto Trust 2019-12.690% 11/16/20260.0%
Capital One Multi-Asset Execution Trust1.330% 06/15/20220.0%
Caesars Palace Las Vegas Trust 2017-VICI4.354% 10/15/20340.0%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.0%
WFRBS Commercial Mortgage Trust3.488% 09/15/20570.0%
Cleco Power LLC6.000% 12/01/20400.0%
JP Morgan Chase Commercial Mortgage Securities Tru3.610% 07/05/20330.0%
Republic of El Salvador6.375% 01/18/20270.0%
GS Mortgage Securities Corp Trust 2018-FBLU5.075% 11/15/20350.0%
California Republic Auto Receivables Trust 2015-43.730% 11/15/20210.0%
Community Health Systems, Inc.8.000% 11/15/20190.0%
Canadian Natural Resources Ltd.3.850% 06/01/20270.0%
Foursight Capital Automobile Receivables Trust 2012.850% 08/16/20210.0%
Drive Auto Receivables Trust3.720% 09/16/20240.0%
GS Mortgage Securities Corp Trust 2018-FBLU3.275% 11/15/20350.0%
Orec 2018-CRE1 Ltd3.505% 06/15/20360.0%
World Financial Network Credit Card Master Trust2.660% 08/15/20240.0%
Norbord, Inc.6.250% 04/15/20230.0%
South Carolina Electric & Gas Co.6.050% 01/15/20380.0%
World Omni Select Auto Trust 2018-13.240% 04/15/20220.0%
ACC Trust 2018-13.700% 12/21/20200.0%
Citigroup Commercial Mortgage Trust 2016-P32.804% 04/15/20490.0%
Helmerich & Payne, Inc.4.650% 03/15/20250.0%
Drive Auto Receivables Trust3.040% 11/15/20210.0%
Goodman US Finance Three LLC3.700% 03/15/20280.0%
Neuberger Berman Group LLC4.500% 03/15/20270.0%
Ashton Woods USA LLC / Ashton Woods Finance Co.6.750% 08/01/20250.0%
Solera Finance, Inc.10.500% 03/01/20240.0%
American Credit Acceptance Receivables Trust 2018-3.380% 12/13/20210.0%
HCA, Inc.5.500% 06/15/20470.0%
Eterna Capital Pte Ltd8.000% 12/11/20220.0%
Colonial Pipeline Co.4.250% 04/15/20480.0%
Bank of America Corp.3.824% 01/20/20280.0%
Goldman Sachs Group, Inc.6.750% 10/01/20370.0%
Weight Watchers International, Inc.8.625% 12/01/20250.0%
Halliburton Co.7.450% 09/15/20390.0%
Valmont Industries, Inc.5.250% 10/01/20540.0%
E*TRADE Financial Corp.4.500% 06/20/20280.0%
Macquarie Bank Ltd.6.625% 04/07/20210.0%
Continental Resources, Inc.4.500% 04/15/20230.0%
Hillman Group, Inc.6.375% 07/15/20220.0%
BAT Capital Corp3.557% 08/15/20270.0%
AmeriCredit Automobile Receivables Trust 2017-22.970% 03/20/20230.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%
General Electric Co.2.945% 05/05/20260.0%
SLIDE 2018-FUN4.175% 06/15/20310.0%
CIT Group, Inc.6.000% 04/01/20360.0%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.000% 12/01/20240.0%
Americredit Automobile Receivables Trust 2018-32.550% 01/18/20220.0%
Americredit Automobile Receivables Trust 2018-33.110% 01/18/20220.0%
Orange Lake Timeshare Trust 2015-A2.880% 09/08/20270.0%
Government National Mortgage Association2.700% 07/16/20570.0%
First Investors Auto Owner Trust2.410% 12/15/20220.0%
First Investors Auto Owner Trust 2018-23.230% 12/15/20220.0%
Government National Mortgage Association2.650% 11/16/20500.0%
Discover Card Execution Note Trust3.040% 07/15/20240.0%
Carnival plc7.875% 06/01/20270.0%
TNT Crane and Rigging6.830% 11/27/20200.0%
Government National Mortgage Association2.750% 02/16/20580.0%
Foursight Capital Automobile Receivables Trust 2012.870% 10/15/20210.0%
Quality Distribution, Inc.10.830% 08/18/20230.0%
Intelsat Jackson Holdings SA5.500% 08/01/20230.0%
Brightsphere Investment Group Inc4.800% 07/27/20260.0%
Drive Auto Receivables Trust4.160% 05/15/20240.0%
TCF Auto Receivables Owner Trust 2016-PT12.920% 10/17/20220.0%
BCD Acquisition, Inc.9.625% 09/15/20230.0%
EPR Properties4.750% 12/15/20260.0%
Government National Mortgage Association2.600% 07/16/20580.0%
JP Morgan Chase Commercial Mortgage Securities Tru4.549% 07/05/20330.0%
JP Morgan Chase Commercial Mortgage Securities Tru4.950% 07/05/20330.0%
Caesars Palace Las Vegas Trust 2017-VICI4.354% 10/15/20340.0%
JPMBB Commercial Mortgage Securities Trust4.269% 07/15/20480.0%
COMM Mortgage Trust4.440% 07/10/20500.0%
Drive Auto Receivables Trust3.340% 09/15/20220.0%
Flagship Credit Auto Trust 2018-12.590% 06/15/20220.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr3.415% 11/15/20350.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTr3.745% 11/15/20350.0%
JP Morgan Chase Commercial Mortgage Securities Tru3.310% 07/05/20330.0%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.0%
Flagship Credit Auto Trust 2017-32.590% 07/15/20220.0%
Drive Auto Receivables Trust 2018-53.080% 07/15/20210.0%
Bancorp Commercial Mortgage 2018-CRE3 Trust/The3.175% 01/15/20330.0%
Bank of America Corp.4.450% 03/03/20260.0%
Dell International LLC / EMC Corp.5.450% 06/15/20230.0%
Eldorado Resorts, Inc.6.000% 04/01/20250.0%
BMW Vehicle Owner Trust 2018-A2.090% 11/25/20200.0%
Time Warner Entertainment Co. L.P.8.375% 07/15/20330.0%
South Carolina Electric & Gas Co.6.625% 02/01/20320.0%
California Republic Auto Receivables Trust 2016-22.520% 05/16/20220.0%
JP Morgan Chase Commercial Mortgage Securities Tru2.829% 10/15/20450.0%
Kinross Gold Corp.5.950% 03/15/20240.0%
Eoc Group Inc3.560% 02/26/20260.0%
Bank of America Corp.4.000% 01/22/20250.0%
PPL Corp.5.200% 07/15/20410.0%
Drive Auto Receivables Trust 2018-52.645% 07/15/20210.0%
AmeriCredit Automobile Receivables Trust 2017-32.240% 06/19/20230.0%
Drive Auto Receivables Trust3.010% 11/15/20210.0%
Affiliated Managers Group, Inc.4.250% 02/15/20240.0%
Flagship Credit Auto Trust 2017-42.070% 04/15/20220.0%
Pennsylvania5.350% 05/01/20300.0%
Santander Drive Auto Receivables Trust 2017-32.760% 12/15/20220.0%
Drive Auto Receivables Trust3.020% 11/15/20210.0%
General Electric Co.3.150% 09/07/20220.0%
Drive Auto Receivables Trust4.180% 03/15/20240.0%
Daimler Trucks Retail Trust 2018-12.600% 05/15/20200.0%
Commercial Mortgage Backed Index Swap3.000% 11/18/20540.0%
Flagship Credit Auto Trust 2017-31.880% 10/15/20210.0%
Ascentium Equipment Receivables 2017-1 Trust2.290% 06/10/20210.0%
Mercedes-Benz Auto Receivables Trust 2016-11.260% 02/16/20210.0%
Commercial Mortgage Backed Index Swap3.000% 11/18/20540.0%
FX USD/EUR 09/190.000% 09/09/20190.0%
Mercedes-Benz Auto Lease Trust 2018-A2.200% 04/15/20200.0%
California Republic Auto Receivables Trust 2017-11.900% 03/15/20210.0%
Commercial Mortgage Backed Index Swap3.000% 11/18/20540.0%
Drive Auto Receivables Trust2.610% 08/16/20210.0%
EURO-SCHATZ FUT SEP190.000% 09/10/20190.0%
CAN 5YR FUT SEPT190.000% 09/30/20190.0%
US 10YR ULTRA FUT SEP190.000% 09/30/20190.0%
US ULTRA BOND CBT SEP190.000% 09/30/20190.0%
US 2YR NOTE (CBT) SEP190.000% 10/03/20190.0%
US 5YR NOTE (CBT) SEP190.000% 10/03/20190.0%
FX USD/CAD 09/190.000% 09/19/20190.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%
Interest Rate Swap2.404% 04/01/20290.0%

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 09/17/2019
$0.335
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 08/31/2019 $0.03455 $15.50
Daily Daily 07/31/2019 $0.04023 $15.27
Daily Daily 06/30/2019 $0.04385 $15.24
Daily Daily 05/31/2019 $0.04362 $15.04
Daily Daily 04/30/2019 $0.04294 $14.92
Daily Daily 03/31/2019 $0.04382 $14.89
Daily Daily 02/28/2019 $0.04135 $14.67
Daily Daily 01/31/2019 $0.04492 $14.68

Upcoming Dividend Payment Dates

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

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 09/17/2019

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $15.67
$100,000 to $249,999 1.75% 1.50% $15.59
$250,000 to $499,999 1.25% 1.00% $15.51
$500,000 to $999,999 0.00% 1.00% $15.32
$1,000,000 to $5,000,000 0.00% 1.00% $15.32

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 08/31/2019

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Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
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Prospectus (XBRL)
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015
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Flyer
Publish Date:11/03/2015

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Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.      

                    

1

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

 

2

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

 

3

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

 

4

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

 

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

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

 

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

 

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

 

 

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

 

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

 

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

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

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