LAPLX | Core Plus Bond Fund Class A | Lord Abbett

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Core Plus Bond Fund

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Daily price w/o sales charge as of 10/06/2022

$12.70

arrowDown$0.03

YTD Returns w/o sales charge as of 10/06/2022

-15.16%

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 10/06/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 4.26% 4.21%
w/ sales charge 4.17% 4.12%

30-Day Standardized Yield 2 as of 08/31/2022  

4.22%

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

Expense Ratioas of 09/30/2022

Expense ratio details, Click here.

Fund Basicsas of 08/31/2022

Total Net Assets
$503.12 M
Inception Date
12/08/2015
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
565
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

Gross 0.73%

Net 0.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge -15.48% -15.38% -2.88% -0.06% - 1.27%
Lipper Category Avg. Core Plus Bond Funds -15.31% -15.45% -2.77% -0.14% - -
Bloomberg U.S. Aggregate Bond Index -14.61% -14.60% -3.26% -0.27% - 0.60%
w/ sales charge -17.37% -17.31% -3.60% -0.52% - 0.94%

Fund Expense Ratio :

Gross 0.73%

Net 0.68%

Fund Expense Ratio :

Gross 0.73%

Net 0.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge -15.48% -15.38% -2.88% -0.06% - 1.27%
Lipper Category Avg. Core Plus Bond Funds -15.31% -15.45% -2.77% -0.14% - -
Bloomberg U.S. Aggregate Bond Index -14.61% -14.60% -3.26% -0.27% - 0.60%
w/ sales charge -17.37% -17.31% -3.60% -0.52% - 0.94%

Fund Expense Ratio :

Gross 0.73%

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
MBS
U.S. Government Related
ABS
High Yield Corporate
CMBS
CLO
Sovereign
Bank Loans
Other
Cash

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

Maturity Assets
Less than 1 year
1-2.99 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 08/31/2022 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

28 Years of Industry Experience

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

Partner & Portfolio Manager

24 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

21 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

31 Years of Industry Experience

Adam C. Castle
Adam C. Castle, CFA

Partner, Portfolio Manager

14 Years of Industry Experience

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

Partner & Portfolio Manager

21 Years of Industry Experience

Harris Trifon
Harris Trifon

Managing Director, Portfolio Manager

22 Years of Industry Experience

Supported By 68 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Performance

Dividend Yield 1 as of 10/06/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 4.26% 4.21%
w/ sales charge 4.17% 4.12%

30-Day Standardized Yield 2 as of 08/31/2022  

  Subsidized5 Un-Subsidized6
w/o sales charge 4.22% 4.22%

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

Fund Expense Ratio :

Gross 0.73%

Net 0.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge -15.48% -15.38% -2.88% -0.06% - 1.27%
Lipper Category Avg. Core Plus Bond Funds -15.31% -15.45% -2.77% -0.14% - -
Bloomberg U.S. Aggregate Bond Index -14.61% -14.60% -3.26% -0.27% - 0.60%
w/ sales charge -17.37% -17.31% -3.60% -0.52% - 0.94%

Fund Expense Ratio :

Gross 0.73%

Net 0.68%

Fund Expense Ratio :

Gross 0.73%

Net 0.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/08/2015
w/o sales charge -15.48% -15.38% -2.88% -0.06% - 1.27%
Lipper Category Avg. Core Plus Bond Funds -15.31% -15.45% -2.77% -0.14% - -
Bloomberg U.S. Aggregate Bond Index -14.61% -14.60% -3.26% -0.27% - 0.60%
w/ sales charge -17.37% -17.31% -3.60% -0.52% - 0.94%

Fund Expense Ratio :

Gross 0.73%

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.

Portfolio

Portfolio

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

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

Rating Assets
Less than 1 year
1-2.99 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 08/31/2022

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 6/30/2022

  • During the quarter we focused on shifting the Fund’s overall positioning to be higher in quality and liquidity. Specifically, we used less volatile market days to take gains in lower quality holdings and repositioned the Fund to a higher quality profile.
  • The sales of lower quality holdings were primarily within the high yield bond and bank loan allocations. Within both leveraged credit sectors, we focused on selling securities at the bottom of the credit stack as well as consumer cyclical issues. Overall, while we took down the Strategy’s weight and risk within each leveraged credit sector, we have maintained these allocations with a bias for BB’s and basic industry names while remaining cautious of exposure to securities further down the credit stack and those within the consumer cyclical category.
  • We used the proceeds from selling lower quality holdings to purchase agency residential mortgage-backed securities (MBS) – decreasing a notable underweight to the sector. We believe that the sector is relatively cheap as it has underperformed year-to-date and this shift aligns with the Fund’s up-in-quality and up-in-liquidity themes. Specifically, we bought up-in-coupon MBS with a focus on 5/5.5’s and some specified pools which are offering an attractive pickup in carry versus the to-be-announced (TBA) market.
  • We maintained the Fund’s positions within other securitized products – asset-backed securities (ABS), non-agency mortgage-backed securities (RMBS), and collateralized loan obligations (CLO) – over the period. We continued to believe in the benefit of a true multi-sector portfolio and believe the securitized product exposure provides diversification benefits. Also, we focused on shifting the securitized product allocations up-in-quality across the board as part of the broader portfolio theme.
  • We also added to the Fund’s allocation to sovereign, supranational, and agency (SSA) issues – also aligning with the higher quality theme. We’ve identified short maturity SSA bonds that are providing an attractive pick-up in yield versus U.S. Treasuries.
  • Within investment grade corporate bonds, we shifted the positions up-in-quality from BBB’s to A’s with a focus on adding to the financials and utilities sectors. We also favored shorter-term tenors when adding to high-quality investment grade corporate bonds over the quarter. We sold out of idiosyncratic investment grade credits within the consumer cyclical sector and exited some lower-quality industrial names. We maintained the Fund’s overweight position to the energy sector based on fundamentals and potential tailwinds from continued persistent inflation.

Portfolio Details as of 08/31/2022

Total Net Assets
$503.12 M
Number of Issues
565
Average Coupon
3.97%
Average Life
8.16 Years
Average Maturity
8.14 Years
Average Effective Duration
6.08 Years
Average Modified Duration
6.86 Years

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

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

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

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

Holding Coupon Maturity Assets
United States Treasury Note/Bond 3.250% 05/15/2042 5.1%
United States Treasury Note/Bond 3.250% 06/30/2027 2.3%
United States Treasury Note/Bond 2.750% 07/31/2027 2.1%
30-YR GNMA II-TBA PROD SEP 5.000% 07/01/2052 2.1%
30-YR GNMA II-TBA PROD SEP 4.500% 07/01/2052 2.0%
United States Treasury Note/Bond 2.875% 05/15/2052 1.9%
Federal Home Loan Banks 0.000% 09/26/2022 1.6%
30-YR UMBS-TBA PROD OCT 4.500% 05/01/2052 1.3%
30-YR UMBS-TBA PROD OCT 5.000% 06/01/2052 1.3%
30-YR UMBS-TBA PROD SEP 3.500% 04/01/2052 1.1%
% of Total Assets 20.8%
Holding Coupon Maturity Assets
United States Treasury Note/Bond3.250% 05/15/20425.1%
United States Treasury Note/Bond3.250% 06/30/20272.3%
United States Treasury Note/Bond2.750% 07/31/20272.1%
30-YR GNMA II-TBA PROD SEP5.000% 07/01/20522.1%
30-YR GNMA II-TBA PROD SEP4.500% 07/01/20522.0%
United States Treasury Note/Bond2.875% 05/15/20521.9%
Federal Home Loan Banks0.000% 09/26/20221.6%
30-YR UMBS-TBA PROD OCT4.500% 05/01/20521.3%
30-YR UMBS-TBA PROD OCT5.000% 06/01/20521.3%
30-YR UMBS-TBA PROD SEP3.500% 04/01/20521.1%
United States Treasury Note/Bond2.750% 08/15/20321.0%
United States Treasury Note/Bond3.000% 06/30/20241.0%
30-YR UMBS-TBA PROD SEP5.500% 07/01/20521.0%
Intercontinental Exchange Inc4.000% 09/15/20270.9%
30-YR UMBS-TBA PROD SEP4.500% 05/01/20520.9%
Citigroup Inc3.980% 03/20/20300.9%
Oracle Corp2.875% 03/25/20310.8%
UnitedHealth Group Inc4.000% 05/15/20290.7%
JPMorgan Chase & Co2.963% 01/25/20330.7%
United States Treasury Inflation Indexed Bonds0.125% 02/15/20520.7%
30-YR UMBS-TBA PROD OCT3.500% 04/01/20520.7%
Capital One Prime Auto Receivables Trust 2022-12.710% 06/16/20250.7%
NextEra Energy Capital Holdings Inc5.000% 07/15/20320.6%
UBS AG5.125% 05/15/20240.6%
AbbVie Inc3.200% 11/21/20290.6%
30-YR UMBS-TBA PROD OCT5.500% 07/01/20520.6%
30-YR UMBS-TBA PROD OCT4.000% 05/01/20520.6%
Goldman Sachs Group Inc/The3.500% 04/01/20250.6%
Toronto-Dominion Bank/The4.456% 06/08/20320.5%
Continental Resources Inc/OK5.750% 01/15/20310.5%
30-YR UMBS-TBA PROD SEP3.000% 03/01/20520.5%
CPPIB Capital Inc3.124% 04/04/20250.5%
Province of Ontario Canada3.100% 05/19/20270.5%
Bank of America Corp1.486% 05/19/20240.5%
15-YR UMBS-TBA PROD OCT4.500% 06/01/20370.5%
Morgan Stanley4.431% 01/23/20300.5%
15-YR UMBS-TBA PROD OCT4.000% 05/01/20370.5%
Freddie Mac Pool5.000% 08/01/20520.5%
Broadcom Inc4.150% 04/15/20320.5%
Avant Loans Funding Trust 2022-REV16.540% 09/15/20310.5%
Charter Communications Operating LLC / Charter Communications Operating Capital2.250% 01/15/20290.5%
Elevance Health Inc2.250% 05/15/20300.5%
30-YR GNMA II-TBA PROD OCT4.500% 07/01/20520.5%
Freddie Mac Pool4.500% 08/01/20520.5%
GSK Consumer Healthcare Capital US LLC3.625% 03/24/20320.5%
CenterPoint Energy Resources Corp4.400% 07/01/20320.5%
Fannie Mae Pool5.000% 08/01/20520.4%
BDS 2021-FL10 Ltd3.457% 06/16/20360.4%
30-YR UMBS-TBA PROD SEP5.000% 06/01/20520.4%
Wells Fargo & Co3.350% 03/02/20330.4%
SCF Equipment Leasing 2021-1 LLC3.560% 08/20/20320.4%
Southern Co/The2.700% 08/01/20240.4%
Fannie Mae Pool2.500% 01/01/20510.4%
Octane Receivables Trust 2022-25.850% 07/20/20280.4%
Glencore Funding LLC4.875% 03/12/20290.4%
GM Financial Automobile Leasing Trust 2022-22.930% 10/21/20240.4%
EQT Corp7.000% 02/01/20300.4%
Fannie Mae Pool4.000% 06/01/20520.4%
Carlyle Global Market Strategies CLO 2014-3-R Ltd3.819% 07/27/20310.4%
Exeter Automobile Receivables Trust 2022-34.860% 12/15/20260.4%
Crown Castle Inc3.300% 07/01/20300.4%
Ares XLII Clo Ltd4.259% 01/22/20280.4%
30-YR GNMA II-TBA PROD OCT4.000% 07/01/20520.4%
Fannie Mae Pool3.500% 04/01/20520.4%
BlueMountain CLO 2013-2 Ltd3.939% 10/22/20300.4%
30-YR GNMA II-TBA PROD OCT3.500% 04/01/20520.4%
BHMS 2018-ATLS4.291% 07/15/20350.4%
Cargill Inc4.000% 06/22/20320.4%
BX Trust 2021-ARIA4.636% 10/15/20360.4%
Goldman Sachs Group Inc/The2.383% 07/21/20320.4%
30-YR UMBS-TBA PROD SEP4.000% 05/01/20520.4%
Take-Two Interactive Software Inc4.000% 04/14/20320.4%
30-YR GNMA II-TBA PROD SEP4.000% 07/01/20520.4%
Diamondback Energy Inc3.500% 12/01/20290.4%
Bank of America Corp3.593% 07/21/20280.4%
T-Mobile USA Inc3.875% 04/15/20300.4%
US Bancorp4.967% 07/22/20330.4%
Fannie Mae Pool2.500% 12/01/20510.4%
Carlyle Global Market Strategies CLO 2014-5 Ltd3.652% 07/15/20310.4%
Santander Consumer Auto Receivables Trust 2020-B7.030% 08/15/20280.3%
Citibank Credit Card Issuance Trust3.161% 05/14/20290.3%
15-YR UMBS-TBA PROD SEP4.000% 05/01/20370.3%
Santander Drive Auto Receivables Trust 2022-54.740% 10/16/20280.3%
Octagon Investment Partners 49 Ltd4.062% 01/15/20330.3%
Bayer US Finance II LLC4.250% 12/15/20250.3%
Flagship Credit Auto Trust 2022-34.550% 04/15/20270.3%
CVS Health Corp3.250% 08/15/20290.3%
Encina Equipment Finance 2022-1 LLC4.880% 11/15/20280.3%
Global Payments Inc4.000% 06/01/20230.3%
American Express Co4.420% 08/03/20330.3%
Freddie Mac Pool5.000% 08/01/20520.3%
ServiceNow Inc1.400% 09/01/20300.3%
Asian Development Bank2.895% 04/06/20270.3%
Dryden 36 Senior Loan Fund3.962% 04/15/20290.3%
Advanced Micro Devices Inc3.924% 06/01/20320.3%
Arbor Realty Commercial Real Estate Notes 2021-FL2 Ltd4.891% 05/15/20360.3%
7-Eleven Inc0.800% 02/10/20240.3%
Goldman Sachs Group Inc/The0.627% 11/17/20230.3%
OneMain Financial Issuance Trust 2020-21.750% 09/14/20350.3%
Workday Inc3.800% 04/01/20320.3%
American Express Credit Account Master Trust3.750% 08/16/20270.3%
Kommunalbanken AS2.724% 06/17/20260.3%
FactSet Research Systems Inc3.450% 03/01/20320.3%
Entergy Corp0.900% 09/15/20250.3%
GS Mortgage Securities Corp II4.358% 08/15/20390.3%
Anglo American Capital PLC4.000% 09/11/20270.3%
Rad CLO 6 Ltd4.090% 01/20/20330.3%
Lendmark Funding Trust 2022-15.120% 07/20/20320.3%
Freddie Mac STACR REMIC Trust 2021-HQA43.133% 12/25/20410.3%
Prestige Auto Receivables Trust 2021-13.470% 03/15/20290.3%
Bank of America Corp3.970% 03/05/20290.3%
Ally Financial Inc8.000% 11/01/20310.3%
Freddie Mac STACR REMIC Trust 2022-HQA34.483% 08/25/20420.3%
Kommuninvest I Sverige AB3.250% 01/16/20240.3%
Freddie Mac Structured Agency Credit Risk Debt Notes4.833% 07/25/20420.3%
Rad CLO 7 Ltd3.940% 04/17/20330.3%
Discover Bank4.682% 08/09/20280.3%
BRAVO Residential Funding Trust 2021-NQM20.970% 03/25/20600.3%
OneMain Direct Auto Receivables Trust 2019-14.190% 11/14/20280.3%
Bank of America Corp2.687% 04/22/20320.3%
Freddie Mac STACR REMIC Trust 2021-HQA34.283% 09/25/20410.3%
Danske Bank A/S5.375% 01/12/20240.3%
Lamar Media Corp3.868% 02/05/20270.3%
CPS Auto Receivables Trust 2020-B7.380% 06/15/20270.3%
Danske Bank A/S3.773% 03/28/20250.3%
National Fuel Gas Co5.500% 01/15/20260.3%
Exeter Automobile Receivables Trust 2020-27.190% 09/15/20270.3%
Ready Capital Mortgage Financing 2022-FL8 LLC3.833% 01/25/20370.3%
National Australia Bank Ltd3.933% 08/02/20340.3%
MF1 2022-FL8 Ltd3.383% 02/19/20370.3%
EIG Pearl Holdings Sarl3.545% 08/31/20360.3%
Galaxy Pipeline Assets Bidco Ltd3.250% 09/30/20400.2%
BX Trust 2021-RISE3.139% 11/15/20360.2%
Ford Motor Co3.250% 02/12/20320.2%
F&G Global Funding5.150% 07/07/20250.2%
nVent Finance Sarl4.550% 04/15/20280.2%
GS Mortgage Securities Corp Trust 2022-SHIP3.038% 08/15/20240.2%
Santander UK Group Holdings PLC3.373% 01/05/20240.2%
Mexico Government International Bond4.400% 02/12/20520.2%
AEP Transmission Co LLC4.500% 06/15/20520.2%
Freddie Mac Pool2.500% 11/01/20500.2%
Verus Securitization Trust 2021-81.824% 11/25/20660.2%
Aviation Capital Group LLC5.500% 12/15/20240.2%
BlueMountain Fuji US Clo III Ltd3.887% 01/15/20300.2%
Freddie Mac Pool5.000% 07/01/20520.2%
Kinder Morgan Energy Partners LP4.250% 09/01/20240.2%
National Fuel Gas Co3.950% 09/15/20270.2%
Wells Fargo Commercial Mortgage Trust 2016-C354.176% 07/15/20480.2%
Fannie Mae Pool2.500% 12/01/20510.2%
Fannie Mae Pool3.500% 07/01/20450.2%
Fannie Mae Pool3.000% 12/01/20480.2%
AIB Group PLC4.750% 10/12/20230.2%
Inter-American Investment Corp2.625% 04/22/20250.2%
GA Global Funding Trust3.850% 04/11/20250.2%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust4.875% 01/16/20240.2%
Westpac Banking Corp4.322% 11/23/20310.2%
East Ohio Gas Co/The1.300% 06/15/20250.2%
Marlette Funding Trust 2021-31.300% 12/15/20310.2%
VERDE CLO Ltd3.612% 04/15/20320.2%
Hertz Vehicle Financing III LP1.680% 12/27/20270.2%
Occidental Petroleum Corp6.625% 09/01/20300.2%
Time Warner Cable LLC7.300% 07/01/20380.2%
Westlake Automobile Receivables Trust 2021-13.910% 09/15/20270.2%
NRG Energy Inc4.450% 06/15/20290.2%
Eaton Corp4.700% 08/23/20520.2%
BFLD 2019-DPLO4.931% 10/15/20340.2%
OneMain Direct Auto Receivables Trust 2019-13.630% 09/14/20270.2%
Citigroup Inc3.887% 01/10/20280.2%
TCW CLO 2022-1 Ltd2.087% 04/22/20330.2%
Bain Capital Credit CLO 2018-23.818% 07/19/20310.2%
Barings CLO Ltd 2019-III3.780% 04/20/20310.2%
Carlyle US Clo 2017-2 Ltd3.760% 07/20/20310.2%
Connecticut Avenue Securities Trust 2022-R084.733% 07/25/20420.2%
Japan International Cooperation Agency3.250% 05/25/20270.2%
Dell International LLC / EMC Corp3.375% 12/15/20410.2%
Rockford Tower CLO 2018-1 Ltd4.084% 05/20/20310.2%
Genesis Sales Finance Master Trust2.240% 09/22/20250.2%
EPR Properties4.950% 04/15/20280.2%
Morgan Stanley4.000% 07/23/20250.2%
BankUnited Inc5.125% 06/11/20300.2%
Constellation Energy Generation LLC6.250% 10/01/20390.2%
Freddie Mac Pool3.500% 02/01/20460.2%
HGI CRE CLO 2021-FL2 Ltd3.880% 09/17/20360.2%
Fluor Corp4.250% 09/15/20280.2%
CSMC 2021-BHAR4.391% 11/15/20380.2%
BNP Paribas SA4.375% 03/01/20330.2%
Glencore Funding LLC2.850% 04/27/20310.2%
BX Trust 2021-ARIA4.985% 10/15/20360.2%
Goldman Sachs Group Inc/The2.615% 04/22/20320.2%
Morgan Stanley2.484% 09/16/20360.2%
Amur Equipment Finance Receivables IX LLC2.300% 11/22/20270.2%
Aqua Finance Trust 2021-A1.540% 07/17/20460.2%
CSAIL 2016-C7 Commercial Mortgage Trust4.526% 11/15/20490.2%
Duke Energy Corp4.500% 08/15/20320.2%
Prosus NV3.257% 01/19/20270.2%
JP Morgan Chase Commercial Mortgage Securities Trust 2020-MKST4.641% 12/15/20360.2%
Navient Corp6.750% 06/25/20250.2%
CARLYLE US CLO 2019-1 LTD3.790% 04/20/20310.2%
Avid Automobile Receivables Trust 2021-13.390% 04/17/20280.2%
Bain Capital Credit CLO 2019-23.840% 10/17/20320.2%
Bank of New York Mellon Corp/The4.596% 07/26/20300.2%
Fannie Mae Pool4.000% 05/01/20520.2%
VICI Properties LP / VICI Note Co Inc5.625% 05/01/20240.2%
SEB Funding LLC4.969% 01/30/20520.2%
GS Mortgage Securities Corp II4.041% 11/15/20360.2%
Kommuninvest I Sverige AB2.875% 07/03/20240.2%
Minejesa Capital BV4.625% 08/10/20300.2%
ME Funding LLC 2019-16.448% 07/30/20490.2%
Playtika Holding Corp5.274% 03/13/20280.2%
Fannie Mae Pool5.000% 07/01/20520.2%
CIM Retail Portfolio Trust 2021-RETL6.141% 08/15/20360.2%
Romark CLO Ltd4.433% 10/23/20300.2%
Claros Mortgage Trust Inc6.893% 08/09/20260.2%
Jazz Financing Lux Sarl6.024% 04/21/20280.2%
LoanCore 2022-CRE7 Issuer Ltd3.533% 01/17/20370.2%
Calpine Corp5.125% 03/15/20280.2%
ABN AMRO Bank NV3.324% 03/13/20370.2%
Vertex Aerospace Services Corp6.274% 12/06/20280.2%
Macquarie Group Ltd2.691% 06/23/20320.2%
GS Mortgage Securities Corp Trust 2019-70P3.711% 10/15/20360.2%
CCO Holdings LLC / CCO Holdings Capital Corp4.750% 03/01/20300.2%
Jane Street Group LLC5.274% 01/26/20280.2%
Laredo Petroleum Inc9.500% 01/15/20250.2%
Arbor Realty Commercial Real Estate Notes 2021-FL4 Ltd5.291% 11/15/20360.2%
Centene Corp4.250% 12/15/20270.2%
Charter Communications Operating LLC / Charter Communications Operating Capital6.484% 10/23/20450.2%
Flagship Credit Auto Trust 2019-33.840% 12/15/20260.2%
180 Medical Inc3.875% 10/15/20290.2%
Organon & Co / Organon Foreign Debt Co-Issuer BV4.125% 04/30/20280.2%
GoodLeap Sustainable Home Solutions Trust 2022-13.500% 01/20/20490.2%
Danske Bank A/S4.375% 06/12/20280.2%
Aircastle Ltd2.850% 01/26/20280.2%
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara3.000% 06/30/20300.2%
Sprint Capital Corp6.875% 11/15/20280.1%
Alibaba Group Holding Ltd3.400% 12/06/20270.1%
Freddie Mac STACR REMIC Trust 2021-DNA65.583% 10/25/20410.1%
CBAM 2017-1 Ltd6.460% 07/20/20300.1%
Avant Loans Funding Trust 2021-REV14.300% 07/15/20300.1%
Carlyle Global Market Strategies CLO 2015-1 Ltd3.690% 07/20/20310.1%
Perimeter Master Note Business Trust7.060% 05/15/20240.1%
Fannie Mae Pool2.500% 09/01/20510.1%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.1%
Freeport Indonesia PT5.315% 04/14/20320.1%
IPALCO Enterprises Inc4.250% 05/01/20300.1%
Santander Consumer Auto Receivables Trust 2021-A5.790% 08/15/20280.1%
Gulfport Energy Corp8.000% 05/17/20260.1%
State of Illinois5.100% 06/01/20330.1%
Invitation Homes Operating Partnership LP2.000% 08/15/20310.1%
Dell International LLC / EMC Corp8.350% 07/15/20460.1%
Advanced Micro Devices Inc4.393% 06/01/20520.1%
OCP Clo 2019-17 Ltd4.310% 07/20/20320.1%
Cedar Funding V CLO Ltd3.840% 07/17/20310.1%
COMM 2014-UBS4 Mortgage Trust4.869% 08/10/20470.1%
Fannie Mae Pool5.000% 07/01/20520.1%
AAdvantage Loyalty IP Ltd7.460% 04/20/20280.1%
Avolon Holdings Funding Ltd4.250% 04/15/20260.1%
NextEra Energy Capital Holdings Inc4.255% 09/01/20240.1%
BX Commercial Mortgage Trust 2021-VOLT3.091% 09/15/20360.1%
Southwest Gas Corp4.050% 03/15/20320.1%
Elastic NV4.125% 07/15/20290.1%
British Airways 2020-1 Class A Pass Through Trust4.250% 05/15/20340.1%
CF Industries Inc5.375% 03/15/20440.1%
Freddie Mac STACR REMIC Trust 2021-DNA75.833% 11/25/20410.1%
ONE Gas Inc1.100% 03/11/20240.1%
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC3.500% 03/15/20290.1%
EPR Properties3.750% 08/15/20290.1%
Range Resources Corp8.250% 01/15/20290.1%
Fannie Mae Pool4.000% 05/01/20520.1%
Trans Union LLC4.774% 12/01/20280.1%
Gray Escrow II Inc5.375% 11/15/20310.1%
BFLD 2019-DPLO4.631% 10/15/20340.1%
Alcoa Nederland Holding BV6.125% 05/15/20280.1%
Ovintiv Inc6.500% 02/01/20380.1%
PulteGroup Inc6.375% 05/15/20330.1%
Bank of America Corp3.004% 12/20/20230.1%
Murphy Oil USA Inc4.750% 09/15/20290.1%
Macquarie Bank Ltd3.624% 06/03/20300.1%
Microchip Technology Inc4.333% 06/01/20230.1%
Lending Funding Trust 2020-26.770% 04/21/20310.1%
Packaging Coordinators Midco Inc6.000% 11/30/20270.1%
Quikrete Holdings Inc5.149% 02/01/20270.1%
Arbor Realty Commercial Real Estate Notes 2021-FL3 Ltd4.591% 08/15/20340.1%
MSCI Inc3.625% 11/01/20310.1%
Netflix Inc6.375% 05/15/20290.1%
Fairstone Financial Issuance Trust I6.873% 10/20/20390.1%
Deephaven Residential Mortgage Trust 2021-31.194% 08/25/20660.1%
NGPL PipeCo LLC4.875% 08/15/20270.1%
COMM 2015-DC1 Mortgage Trust4.441% 02/10/20480.1%
Magallanes Inc3.428% 03/15/20240.1%
Option Care Health Inc5.274% 10/27/20280.1%
Sunrun Demeter Issuer 2021-2 LLC2.270% 01/30/20570.1%
Avolon Holdings Funding Ltd2.125% 02/21/20260.1%
Viterra Finance BV3.200% 04/21/20310.1%
Lendmark Funding Trust 2021-24.460% 04/20/20320.1%
Callon Petroleum Co8.000% 08/01/20280.1%
MEG Energy Corp5.875% 02/01/20290.1%
Delta Air Lines Inc7.000% 05/01/20250.1%
Hilcorp Energy I LP / Hilcorp Finance Co5.750% 02/01/20290.1%
Aramark Services Inc4.274% 03/11/20250.1%
Oaktree CLO 2019-4 Ltd4.960% 10/20/20320.1%
Grippen Park CLO Ltd4.360% 01/20/20300.1%
Silgan Holdings Inc4.125% 02/01/20280.1%
BHMS 2018-ATLS3.641% 07/15/20350.1%
Post Holdings Inc4.625% 04/15/20300.1%
Capital One Financial Corp4.166% 05/09/20250.1%
FirstEnergy Corp4.400% 07/15/20270.1%
Pike Corp5.500% 09/01/20280.1%
SCIENTIFIC GAMES INTL INC5.407% 04/14/20290.1%
Mohegan Gaming & Entertainment8.000% 02/01/20260.1%
Bank of America Corp2.087% 06/14/20290.1%
GS Mortgage Securities Corp Trust 2019-SMP3.891% 08/15/20320.1%
M360 2019-CRE2 LLC3.848% 09/15/20340.1%
NGPL PipeCo LLC3.250% 07/15/20310.1%
Freddie Mac STACR REMIC Trust 2022-DNA14.683% 01/25/20420.1%
Great Wolf Trust 2019-WOLF3.425% 12/15/20360.1%
Viterra Finance BV4.900% 04/21/20270.1%
Ammc Clo 19 Ltd5.290% 10/16/20280.1%
Amentum Government Services Holdings LLC6.524% 01/29/20270.1%
Ammc Clo 19 Ltd4.540% 10/16/20280.1%
Madison IAQ LLC5.875% 06/30/20290.1%
Westpac Banking Corp4.110% 07/24/20340.1%
Petroleos Mexicanos6.700% 02/16/20320.1%
Avid Automobile Receivables Trust 2019-13.140% 07/15/20260.1%
OCP SA3.750% 06/23/20310.1%
DBWF 2018-GLKS Mortgage Trust3.396% 12/19/20300.1%
AMC Networks Inc4.250% 02/15/20290.1%
Westlake Automobile Receivables Trust 2020-33.340% 06/15/20260.1%
Bank of America Corp3.384% 04/02/20260.1%
Mariner Finance Issuance Trust 2021-A5.400% 03/20/20360.1%
Centene Corp2.450% 07/15/20280.1%
Avolon Holdings Funding Ltd3.950% 07/01/20240.1%
Mercer International Inc5.125% 02/01/20290.1%
Drive Auto Receivables Trust 2019-14.090% 06/15/20260.1%
Tricolor Auto Securitization Trust 2021-13.230% 09/15/20260.1%
Connecticut Avenue Securities Trust 2022-R026.683% 01/25/20420.1%
Sprint Capital Corp8.750% 03/15/20320.1%
Extended Stay America Trust 2021-ESH4.091% 07/15/20380.1%
Molina Healthcare Inc3.875% 11/15/20300.1%
Comstock Resources Inc6.750% 03/01/20290.1%
Upstart Securitization Trust 2021-21.750% 06/20/20310.1%
Morgan Stanley2.239% 07/21/20320.1%
Valvoline Inc4.250% 02/15/20300.1%
Wells Fargo Commercial Mortgage Trust 2013-LC124.433% 07/15/20460.1%
Booz Allen Hamilton Inc3.875% 09/01/20280.1%
Toll Brothers Finance Corp3.800% 11/01/20290.1%
CVR Partners LP / CVR Nitrogen Finance Corp6.125% 06/15/20280.1%
KIND Trust 2021-KIND4.691% 08/15/20380.1%
Perimeter Master Note Business Trust4.170% 05/15/20240.1%
Atrium Hotel Portfolio Trust 2018-ATRM3.341% 06/15/20350.1%
Baxalta Inc4.000% 06/23/20250.1%
SM Energy Co6.750% 09/15/20260.1%
Sabine Pass Liquefaction LLC5.625% 03/01/20250.1%
Marble Point CLO XVII Ltd4.010% 04/20/20330.1%
Owens & Minor Inc6.625% 04/01/20300.1%
TerraForm Power Operating LLC4.750% 01/15/20300.1%
Avolon Holdings Funding Ltd5.250% 05/15/20240.1%
TRTX 2019-FL3 Issuer Ltd4.098% 10/15/20340.1%
First American Financial Corp2.400% 08/15/20310.1%
CIFC Funding 2014-V Ltd3.940% 10/17/20310.1%
Assurant Inc2.650% 01/15/20320.1%
United Airlines Inc4.375% 04/15/20260.1%
American Tower Corp2.950% 01/15/20250.1%
Citigroup Inc4.140% 05/24/20250.1%
United States Steel Corp6.875% 03/01/20290.1%
Standard Industries Inc/NJ4.375% 07/15/20300.1%
Jamestown CLO VI-R Ltd3.933% 04/25/20300.1%
Lamb Weston Holdings Inc4.125% 01/31/20300.1%
SCF Equipment Leasing 2019-2 LLC2.760% 08/20/20260.1%
VMC Finance 2019-FL3 LLC3.491% 09/15/20360.1%
Colgate Energy Partners III LLC7.750% 02/15/20260.1%
Option Care Health Inc4.375% 10/31/20290.1%
American Airlines Inc11.750% 07/15/20250.1%
Civitas Resources Inc5.000% 10/15/20260.1%
Egypt Government International Bond5.800% 09/30/20270.1%
Go Daddy Operating Co LLC / GD Finance Co Inc3.500% 03/01/20290.1%
Aethon United BR LP / Aethon United Finance Corp8.250% 02/15/20260.1%
Fannie Mae Connecticut Avenue Securities5.483% 11/25/20410.1%
CS Master Trust6.340% 04/15/20250.1%
Park Aerospace Holdings Ltd5.500% 02/15/20240.1%
Connecticut Avenue Securities Trust 2021-R015.283% 10/25/20410.1%
Westpac Banking Corp2.894% 02/04/20300.1%
Commercial Metals Co4.125% 01/15/20300.1%
Avantor Funding Inc3.875% 11/01/20290.1%
ModivCare Escrow Issuer Inc5.000% 10/01/20290.1%
NOV Inc3.600% 12/01/20290.1%
Apidos CLO XXVI4.240% 07/18/20290.1%
ReadyCap Commercial Mortgage Trust 2019-62.833% 10/25/20520.1%
Weatherford International Ltd8.625% 04/30/20300.1%
Kennedy-Wilson Inc4.750% 02/01/20300.1%
FirstEnergy Corp2.650% 03/01/20300.1%
FMG Resources August 2006 Pty Ltd4.375% 04/01/20310.1%
Life Time Inc5.750% 01/15/20260.1%
Medline Borrower LP3.875% 04/01/20290.1%
Fortress Transportation and Infrastructure Investors LLC5.500% 05/01/20280.1%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.250% 05/15/20270.1%
Penn Entertainment Inc4.125% 07/01/20290.1%
Oglethorpe Power Corp5.950% 11/01/20390.1%
Physicians Realty LP2.625% 11/01/20310.1%
Live Nation Entertainment Inc3.750% 01/15/20280.1%
SunCoke Energy Inc4.875% 06/30/20290.1%
Frontier Communications Holdings LLC5.000% 05/01/20280.1%
Century Communities Inc3.875% 08/15/20290.1%
Condor Merger Sub Inc7.375% 02/15/20300.1%
Hillenbrand Inc3.750% 03/01/20310.1%
Cheniere Energy Partners LP3.250% 01/31/20320.1%
Cellnex Finance Co SA3.875% 07/07/20410.1%
TK Elevator US Newco Inc5.250% 07/15/20270.1%
SEG Holding LLC / SEG Finance Corp5.625% 10/15/20280.1%
Protective Life Corp8.450% 10/15/20390.1%
Alfa Desarrollo SpA4.550% 09/27/20510.1%
Ball Corp2.875% 08/15/20300.1%
Precision Drilling Corp6.875% 01/15/20290.1%
Alcoa Nederland Holding BV4.125% 03/31/20290.1%
Angolan Government International Bond8.750% 04/14/20320.1%
CNX Midstream Partners LP4.750% 04/15/20300.1%
Jacobs Entertainment Inc6.750% 02/15/20290.1%
Tengizchevroil Finance Co International Ltd3.250% 08/15/20300.1%
Fannie Mae Pool3.500% 09/01/20510.1%
Seaspan Corp5.500% 08/01/20290.1%
Braskem Netherlands Finance BV4.500% 01/31/20300.1%
ZipRecruiter Inc5.000% 01/15/20300.1%
Hertz Corp/The5.000% 12/01/20290.1%
Venture Global Calcasieu Pass LLC4.125% 08/15/20310.1%
Invitation Homes Operating Partnership LP2.300% 11/15/20280.1%
Novelis Corp3.875% 08/15/20310.1%
Hilton Domestic Operating Co Inc4.875% 01/15/20300.1%
Party City Holdings Inc8.750% 02/15/20260.1%
PFP 2019-6 Ltd4.491% 04/14/20370.1%
Atkore Inc4.250% 06/01/20310.1%
Mariner Finance Issuance Trust 2021-B4.680% 11/20/20360.1%
ELEMENT MAT TEC GR US HLD INC0.000% 06/07/20290.1%
JP Morgan Chase Commercial Mortgage Securities Corp Series 2019-PCC2.762% 09/15/20290.1%
JP Morgan Chase Commercial Mortgage Securities Corp Series 2019-PCC3.462% 09/15/20290.1%
JP Morgan Chase Commercial Mortgage Securities Corp Series 2019-PCC4.462% 09/15/20290.1%
JP Morgan Chase Commercial Mortgage Securities Corp Series 2019-PCC5.462% 09/15/20290.1%
BBCMS 2019-BWAY Mortgage Trust4.001% 11/15/20340.1%
ASP Unifrax Holdings Inc7.500% 09/30/20290.1%
National CineMedia LLC5.875% 04/15/20280.1%
Park River Holdings Inc5.625% 02/01/20290.1%
Entegris Inc3.625% 05/01/20290.1%
LBM Acquisition LLC6.250% 01/15/20290.1%
Avis Budget Car Rental LLC / Avis Budget Finance Inc5.375% 03/01/20290.1%
BBCMS 2019-BWAY Mortgage Trust3.347% 11/15/20340.1%
Buckeye Partners LP6.375% 01/22/20780.1%
California Resources Corp7.125% 02/01/20260.1%
CPS Auto Receivables Trust 2020-B4.750% 04/15/20260.1%
Citigroup Commercial Mortgage Trust 2016-GC362.850% 02/10/20490.1%
Amsted Industries Inc4.625% 05/15/20300.1%
Macquarie Group Ltd4.654% 03/27/20290.1%
Netflix Inc5.875% 11/15/20280.1%
Assurant Inc3.700% 02/22/20300.1%
Hudson River Trading LLC6.164% 03/20/20280.1%
Nigeria Government International Bond7.143% 02/23/20300.1%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.875% 04/15/20450.1%
Aviation Capital Group LLC1.950% 01/30/20260.1%
Coinbase Global Inc3.375% 10/01/20280.1%
M360 2019-CRE2 LLC4.248% 09/15/20340.1%
American Airlines Group Inc3.750% 03/01/20250.1%
Verus Securitization Trust 2020-51.218% 05/25/20650.1%
Levi Strauss & Co3.500% 03/01/20310.1%
Radiology Partners Inc9.250% 02/01/20280.0%
Generate CLO 2 Ltd3.909% 01/22/20310.0%
Mountain View CLO 2017-1 LLC4.490% 10/16/20290.0%
CHS/Community Health Systems Inc4.750% 02/15/20310.0%
Goldentree Loan Management US Clo 3 Ltd4.260% 04/20/20300.0%
HONO 2021-LULU Mortgage Trust3.841% 10/15/20360.0%
Delta Air Lines Inc / SkyMiles IP Ltd4.750% 10/20/20280.0%
Acadia Healthcare Co Inc5.000% 04/15/20290.0%
OneMain Financial Issuance Trust 2020-23.450% 09/14/20350.0%
JP Morgan Chase Commercial Mortgage Securities Corp Series 2019-PCC1.862% 09/15/20290.0%
Signal Peak CLO 2 LLC5.560% 04/20/20290.0%
TransDigm Inc6.375% 06/15/20260.0%
Hawaiian Brand Intellectual Property Ltd / HawaiianMiles Loyalty Ltd5.750% 01/20/20260.0%
Tenet Healthcare Corp6.250% 02/01/20270.0%
Twilio Inc3.875% 03/15/20310.0%
Bayer Corp6.650% 02/15/20280.0%
Country Garden Holdings Co Ltd3.875% 10/22/20300.0%
CF Trust 2019-BOSS5.641% 12/15/20240.0%
CS Master Trust6.568% 04/15/20230.0%
Western Alliance Bancorp3.000% 06/15/20310.0%
CSAIL 2019-C18 Commercial Mortgage Trust3.321% 12/15/20520.0%
MHP Lux SA6.250% 09/19/20290.0%
Foothill-Eastern Transportation Corridor Agency4.094% 01/15/20490.0%
Occidental Petroleum Corp6.125% 01/01/20310.0%
Hecla Mining Co7.250% 02/15/20280.0%
Flagship Credit Auto Trust 2021-10.310% 06/16/20250.0%
Prima Capital CRE Securitization 2019-RK1 Ltd4.000% 04/15/20380.0%
HONO 2021-LULU Mortgage Trust4.241% 10/15/20360.0%
BX Commercial Mortgage Trust 2019-XL3.841% 10/15/20360.0%
Wells Fargo Commercial Mortgage Trust 2017-C413.785% 11/15/20500.0%
Vista Point Securitization Trust 2020-21.475% 04/25/20650.0%
BX Commercial Mortgage Trust 2019-XL3.641% 10/15/20360.0%
Arbor Realty Commercial Real Estate Notes 2021-FL2 Ltd5.341% 05/15/20360.0%
Sri Lanka Government International Bond5.875% 07/25/20220.0%
OneMain Financial Issuance Trust 2018-23.570% 03/14/20330.0%
BAMLL Commercial Mortgage Securities Trust 2019-AHT3.991% 03/15/20340.0%
MHP Lux SA6.950% 04/03/20260.0%
Commercial Mortgage Pass Through Certificates3.400% 10/05/20300.0%
GS Mortgage Securities Corp Trust 2018-RIVR3.341% 07/15/20350.0%
Avid Automobile Receivables Trust 2019-12.820% 07/15/20260.0%
Citigroup Commercial Mortgage Trust 2016-GC363.849% 02/10/20490.0%
CSMC 2020-AFC1 Trust2.240% 02/25/20500.0%
BX Commercial Mortgage Trust 2019-XL4.191% 10/15/20360.0%
Ford Credit Floorplan Master Owner Trust A4.060% 11/15/20300.0%
BBCMS 2019-BWAY Mortgage Trust3.701% 11/15/20340.0%
GS Mortgage Securities Trust 2013-G13.557% 04/10/20310.0%
Prima Capital CRE Securitization 2019-RK1 Ltd4.450% 04/15/20380.0%
Credit Suisse Mortgage Capital Certificates1.616% 04/25/20650.0%
Ashland LLC6.875% 05/15/20430.0%
BBCMS 2018-TALL Mortgage Trust4.828% 03/15/20370.0%
BX Trust 2018-GW3.191% 05/15/20350.0%
Chesapeake Funding II LLC2.940% 04/15/20310.0%
COMM 2015-PC1 Mortgage Trust4.290% 07/10/20500.0%
GreatAmerica Leasing Receivables Funding LLC Series 2019-13.210% 02/18/20250.0%
Ellington Financial Mortgage Trust 2020-21.178% 10/25/20650.0%
Verus Securitization Trust 2020-12.417% 01/25/20600.0%
Natixis Commercial Mortgage Securities Trust 2018-285M3.917% 11/15/20320.0%
Natixis Commercial Mortgage Securities Trust 2018-285M3.917% 11/15/20320.0%
WFRBS Commercial Mortgage Trust 2013-C124.455% 03/15/20480.0%
COMM 2014-UBS6 Mortgage Trust4.349% 12/10/20470.0%
COMM 2015-PC1 Mortgage Trust4.435% 07/10/20500.0%
GS Mortgage Securities Trust 2014-GC264.672% 11/10/20470.0%
Westlake Automobile Receivables Trust 2019-23.200% 11/15/20240.0%
Drive Auto Receivables Trust 2019-42.510% 11/17/20250.0%
Angel Oak Mortgage Trust 2020-12.466% 12/25/20590.0%
JP Morgan Chase Commercial Mortgage Securities Trust 2018-WPT3.876% 07/05/20330.0%
SG Commercial Mortgage Securities Trust 2019-787E0.456% 02/15/20410.0%
WFRBS Commercial Mortgage Trust 2013-C123.863% 03/15/20480.0%
Residential Mortgage Loan Trust 2020-12.376% 01/26/20600.0%
CoreVest American Finance 2018-1 Trust3.804% 06/15/20510.0%
Pennsylvania Higher Education Assistance Agency3.053% 04/25/20380.0%
Neuberger Berman Group LLC / Neuberger Berman Finance Corp4.500% 03/15/20270.0%
Citigroup Commercial Mortgage Trust 2016-P32.804% 04/15/20490.0%
GCAT 2019-NQM2 Trust2.247% 01/25/20600.0%
Orange Lake Timeshare Trust 2019-A3.060% 04/09/20380.0%
FX USD/CAD 10/220.000% 10/20/20220.0%
JP Morgan Chase Commercial Mortgage Securities Trust 2018-WPT4.549% 07/05/20330.0%
JP Morgan Chase Commercial Mortgage Securities Trust 2018-WPT4.950% 07/05/20330.0%
COMM 2015-PC1 Mortgage Trust4.435% 07/10/20500.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTrust 2018-MINN3.661% 11/15/20350.0%
J.P. Morgan Chase Commercial Mortgage SecuritiesTrust 2018-MINN3.991% 11/15/20350.0%
JP Morgan Chase Commercial Mortgage Securities Trust 2018-WPT3.576% 07/05/20330.0%
JPMBB Commercial Mortgage Securities Trust 2015-C304.373% 07/15/20480.0%
JP Morgan Chase Commercial Mortgage Securities Trust 2014-DSTY3.931% 06/10/20270.0%
Starwood Mortgage Residential Trust 2020-12.275% 02/25/20500.0%
Government National Mortgage Association2.650% 11/16/20500.0%
US 2YR NOTE (CBT) Dec220.000% 01/05/20230.0%
FX USD/EUR 09/220.000% 09/12/20220.0%
FX EUR/USD 09/220.000% 09/12/20220.0%
Red Planet Borrower LLC6.274% 10/02/20280.0%
Seminole Tribe of Florida Inc4.274% 07/08/20240.0%
US 10yr Ultra Fut Dec220.000% 12/30/20220.0%
ELEMNT MAT TECH GRP US HOL INC0.000% 06/22/20290.0%
LAC0.010% 12/31/20500.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Commercial Mortgage Backed Index Swap3.000% 08/17/20610.0%
US ULTRA BOND CBT Dec220.000% 12/30/20220.0%
Commercial Mortgage Backed Index Swap3.000% 11/17/20590.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
US 5YR NOTE (CBT) Dec220.000% 01/05/20230.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Commercial Mortgage Backed Index Swap3.000% 08/17/20610.0%
Credit Index Swap5.000% 06/20/20270.0%

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 10/06/2022
$0.345
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 09/30/2022 $0.04512 $12.66
Daily Daily 08/31/2022 $0.04551 $13.29
Daily Daily 07/31/2022 $0.04387 $13.67
Daily Daily 06/30/2022 $0.04009 $13.34
Daily Daily 05/31/2022 $0.03667 $13.72
Daily Daily 04/30/2022 $0.03478 $13.80
Daily Daily 03/31/2022 $0.03540 $14.34
Daily Daily 02/28/2022 $0.03209 $14.79
Daily Daily 01/31/2022 $0.03147 $15.02

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 10/31/2022
Daily Daily 11/30/2022
Daily Daily 12/31/2022

Yield

Yield

Dividend Yield as of 10/06/2022  

  Subsidized Un-Subsidized
w/o sales charge 4.26% 4.21%
w/ sales charge 4.17% 4.12%

30-Day Standardized Yield as of 08/31/2022  

Subsidized Un-Subsidized
4.22% 4.22%

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 10/06/2022

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $12.99
$100,000 to $249,999 1.75% 1.50% $12.93
$250,000 to $499,999 1.25% 1.00% $12.86
$500,000 to $999,999 0.00% 1.00% $12.70
$1,000,000 to $5,000,000 0.00% 1.00% $12.70

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 View Full Disclosure

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 (as defined below) may combine thevalue of Class A, A1, C, F, and P shares of any Eligible Fund currentlyowned with a new purchase of Class A shares of any Eligible Fund in orderto reduce the sales charge on the new purchase. Class F3, I, R2, R3, R4, R5,and R6 share holdings may not be combined for these purposes.To the extent that your financial intermediary is able to do so, the value ofClass A, A1, C, F, and P shares of Eligible Funds determined for the purposeof reducing the sales charge of a new purchase under the Rights ofAccumulation will be calculated at the higher of: (1) the aggregate currentmaximum offering price of your existing Class A, A1, C, F, and P shares ofEligible Funds; or (2) the aggregate amount you invested in such shares(including dividend reinvestments but excluding capital appreciation) less anyredemptions. You should retain any information and account recordsnecessary to substantiate the historical amounts you and any relatedPurchasers have invested in Eligible Funds. You must inform the Fund and/or your financial intermediary at the time of purchase if you believe yourpurchase qualifies for a reduced sales charge and you may be requested toprovide documentation of your holdings in order to verify your eligibility. Ifyou do not do so, you may not receive all sales charge reductions for whichyou are eligible.

  • Letter of Intention — In order to reduce your Class A front-end salescharge, a Purchaser may combine purchases of Class A, A1, C, F, and Pshares of any Eligible Fund the Purchaser intends to make over the next13 months in determining the applicable sales charge. The 13-month Letterof Intention period commences on the day that the Letter of Intention isreceived by the Fund, and the Purchaser must tell the Fund that laterpurchases are subject to the Letter of Intention. Purchases submitted prior tothe date the Letter of Intention is received by the Fund are not countedtoward the sales charge reduction. Current holdings under Rights ofAccumulation may be included in a Letter of Intention in order to reduce thesales charge for purchases during the 13-month period covered by the Letterof Intention. Shares purchased through reinvestment of dividends ordistributions are not included. Class F3, I, R2, R3, R4, R5, and R6 shareholdings may not be combined for these purposes. Class A and A1 shares valued at up to 5% of the amount of intended purchases are escrowed andmay be redeemed to cover the additional sales charges payable if the intendedpurchases under the Letter of Intention are not completed. The Letter ofIntention is neither a binding obligation on you to buy, nor on the Fund tosell, any or all of the intended purchase amount.

Purchaser — A Purchaser includes: (1) an individual; (2) an individual, his or her spouse, domestic partner, and childrenunder the age of 21; (3) retirement and benefit plansincluding a 401(k) plan, profit-sharing plan, moneypurchase plan, defined benefit plan, and 457(b) plan sponsored by a governmental entity, non-profitorganization, school district or church to which employer contributions are made, as well as SIMPLE IRAplans and SEP-IRA plans; or (4) a trustee or other fiduciary purchasing shares for a single trust, estate orsingle fiduciary account or a trust established by the individual as grantor. An individual may include underitem (1) his or her holdings in Eligible Funds as described below in IRAs, as a sole participant of aretirement and benefit plan sponsored by the individual’s business, and as a participant in a 403(b) plan towhich only pre-tax salary deferrals are made. An individual, his or her spouse, and domestic partner mayinclude under item (2) their holdings in IRAs, and as the sole participants in retirement and benefit planssponsored 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 singlebank 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 09/30/2022

Expense ratio details, Click here.

Fund Documents

Fund Documents

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*"Barron's Best Fund Families of 2021", #4 ranking in the Taxable Bond category based on the net total return of the one-year period ending 12/31/2021, among 51 qualifying fund families. Ranking for the ten-year period ending 12/31/2021 is #2 out of 45 qualifying fund families.

Source: Barron’s, “Barron’s Best Fund Families of 2021,” February 18, 2022. Barron’s rankings are based on asset weighted returns in funds in five categories: general equity, world equity (including international and global portfolios), mixed asset (which invest in stocks, bonds and other securities), taxable bond, and tax-exempt (each a "Barron's ranking category"). Rankings also take into account an individual fund's performance within its Lipper peer universe. Lipper calculated each fund's net total return for the year ended December 31, 2021, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer "universe," as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2020 weighting of their Barron's ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron's ranking category. The process is repeated for the five- and ten-year rankings as well.

Barron's Fund Family Rankings are awarded annually.

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

© Refinitiv Lipper 2022. All Rights Reserved. Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. Lipper provides global, independent fund performance data. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

+

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

                    

1

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

 

2

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

 

3

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

 

4

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

 

5

The 30-day Standardized Subsidized yields reflect 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.

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, effective 12/1/2021, 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 of the 18-month anniversary of the purchase. Fund shares purchased without a sales charge prior to 12/1/2021 may be assessed 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. 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 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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