HYMFX | High Income Municipal Bond Fund Class F | Lord Abbett

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High Income Municipal Bond Fund

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Effective November 1, 2021 the Lord Abbett High Yield Municipal Bond Fund changed its name to Lord Abbett High Income Municipal Bond Fund. There was no change to the Fund’s investment strategy.

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

$10.35

$0.00

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

-18.20%

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

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Summary

Summary

What is the High Income Municipal Bond Fund?

The Fund seeks to deliver a high level of income exempt from federal income tax by investing primarily in lower-rated municipal bonds.

 

Yields

Dividend Yield 1 as of 10/06/2022  

w/o sales charge 3.95%

30 Day Standardized yield 2 as of 08/31/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.98% 3.97%

Fund Basicsas of 08/31/2022

Total Net Assets
$3.76 B
Inception Date
09/28/2007
Dividend Frequency
Monthly
Fund Expense Ratio
0.65%
Number of Holdings
683
 

 

 

Fund Expense Ratio :

0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -19.20% -18.09% -3.44% 0.78% 2.68% 2.31%
Lipper Category Avg. High Yield Municipal Debt Funds -15.95% -15.02% -2.56% 0.52% 2.31% -
Bloomberg High Yield Municipal Bond Index -16.03% -15.05% -1.43% 2.31% 3.51% -

Fund Expense Ratio :

0.65%

Fund Expense Ratio :

0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -19.20% -18.09% -3.44% 0.78% 2.68% 2.31%
Lipper Category Avg. High Yield Municipal Debt Funds -15.95% -15.02% -2.56% 0.52% 2.31% -
Bloomberg High Yield Municipal Bond Index -16.03% -15.05% -1.43% 2.31% 3.51% -

Fund Expense Ratio :

0.65%

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.

The Muni Quarterly

The Muni Quarterly offers insights from our analysts on key topics for municipal bond investors, along with essential market information.

RELATED CONTENT

A Powerful Trend That Could Support U.S. High Yield in 2022
December 6, 2021

We expect a surge in “rising stars”—upgrades of U.S. debt issues from high yield to investment grade—over the next two years.

Sector Assets
IDR/PCR
Healthcare/Hospital
Education
Special Tax
GO Local
Transportation
Lease
Water & Sewer
GO State
Housing
Power
Other
Pre-Refunded
VRDN
Treasury

The Fund's portfolio is actively managed and is subject to change.

Maturity Assets
<1 Year
1-5 Years
5-10 Years
10-15 Years
15-20 Years
20-25 Years
25-30 Years
>30 Years

The Fund's portfolio is actively managed and is subject to change.

Credit Quality Distribution as of 08/31/2022

Rating Assets
AAA
AA
A
BBB
BB
B
< B
Not Rated

Ratings provided by Standard & Poor's, Moody's, and Fitch. Where the rating agencies rate a security differently, Lord Abbett uses the higher credit rating. For a security with both a short-term and a long-term rating, Lord Abbett has categorized the security in the chart above using its short-term rating only. 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 are not rated. A-1/MIG1, A-2/MIG2 and A-3/MIG3 designations denote securities with less than a three-year maturity as well as superior (A-1/MIG1), strong (A-2/MIG2) and favorable (A-3/MIG3) credit quality. The credit quality breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Credit quality allocation reflects market value weightings.

INVESTMENT TEAM

Daniel S. Solender
Daniel S. Solender, CFA

Partner & Director

35 Years of Industry Experience

Gregory M. Shuman
Gregory M. Shuman, CFA

Partner, Portfolio Manager

12 Years of Industry Experience

Supported By 16 Investment Professionals with 15 Years Avg. Industry Experience

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Performance

Performance

Dividend Yield 1 as of 10/06/2022  

w/o sales charge 3.95%

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

  Subsidized5 Un-Subsidized6
w/o sales charge 3.98% 3.97%

Fund Expense Ratio :

0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -19.20% -18.09% -3.44% 0.78% 2.68% 2.31%
Lipper Category Avg. High Yield Municipal Debt Funds -15.95% -15.02% -2.56% 0.52% 2.31% -
Bloomberg High Yield Municipal Bond Index -16.03% -15.05% -1.43% 2.31% 3.51% -

Fund Expense Ratio :

0.65%

Fund Expense Ratio :

0.65%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -19.20% -18.09% -3.44% 0.78% 2.68% 2.31%
Lipper Category Avg. High Yield Municipal Debt Funds -15.95% -15.02% -2.56% 0.52% 2.31% -
Bloomberg High Yield Municipal Bond Index -16.03% -15.05% -1.43% 2.31% 3.51% -

Fund Expense Ratio :

0.65%

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.

Year Fund Returns Bloomberg High Yield Municipal Bond Index
2021 6.49% 7.77%
2020 3.59% 4.89%
2019 11.58% 10.68%
2018 3.89% 4.76%
2017 7.48% 9.69%
2016 2.78% 2.99%
2015 3.77% 1.81%
2014 14.59% 13.85%
2013 -6.90% -5.51%
2012 18.08% 18.14%
2011 4.65% -
2010 3.78% -
2009 36.00% -
2008 -32.74% -
2007 -5.00% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -8.59% -6.70% -5.27% - -18.20%
2021 1.55% 3.94% -0.49% 1.38% 6.49%
2020 -7.40% 4.38% 2.42% 4.63% 3.59%
2019 4.19% 3.18% 2.74% 1.01% 11.58%
2018 0.77% 2.81% 0.57% -0.30% 3.89%
2017 2.72% 1.96% 1.99% 0.61% 7.48%
2016 2.40% 4.32% 1.24% -4.97% 2.78%
2015 1.59% -1.12% 1.22% 2.07% 3.77%
2014 5.33% 4.11% 2.60% 1.86% 14.59%
2013 1.58% -5.19% -3.36% 0.03% -6.90%
2012 6.82% 3.39% 3.67% 3.13% 18.08%
2011 -1.69% 5.27% 1.66% -0.53% 4.65%
2010 3.19% 1.58% 4.54% -5.29% 3.78%
2009 8.28% 10.14% 14.67% -0.55% 36.00%
2008 -5.29% 0.31% -7.13% -23.76% -32.74%
2007 - - - -5.00% -5.00%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

PORTFOLIO BREAKDOWN as of 08/31/2022

Sector Assets
IDR/PCR
Healthcare/Hospital
Education
Special Tax
GO Local
Transportation
Lease
Water & Sewer
GO State
Housing
Power
Other
Pre-Refunded
VRDN
Treasury

The Fund's portfolio is actively managed and is subject to change.

PORTFOLIO BREAKDOWN as of 08/31/2022

Maturity Assets
<1 Year
1-5 Years
5-10 Years
10-15 Years
15-20 Years
20-25 Years
25-30 Years
>30 Years

The Fund's portfolio is actively managed and is subject to change.

PORTFOLIO BREAKDOWN as of 08/31/2022

Rating Assets
NY
IL
CA
Puerto Rico
FL
OH
PA
AL
TX
GA
WI
NJ
MD
VA
AZ
CO
LA
AR
IA
UT
TN
MI
MN
WA
NH
MA
KY
OK
Other U.S. Territories
MO
IN
AS
HI
NV
SC
WY
RI
DC
ID
VT
ND
NE
CT
NM
WV
KS
ME
OR

The Fund's portfolio is actively managed and is subject to change.

Credit QUALITY DISTRIBUTION as of 08/31/2022

Rating Assets
AAA
AA
A
BBB
BB
B
< B
Not Rated

Ratings provided by Standard & Poor's, Moody's, and Fitch. Where the rating agencies rate a security differently, Lord Abbett uses the higher credit rating. For a security with both a short-term and a long-term rating, Lord Abbett has categorized the security in the chart above using its short-term rating only. 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 are not rated. A-1/MIG1, A-2/MIG2 and A-3/MIG3 designations denote securities with less than a three-year maturity as well as superior (A-1/MIG1), strong (A-2/MIG2) and favorable (A-3/MIG3) credit quality. The credit quality breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Credit quality allocation reflects market value weightings.

Portfolio Positioning as of 6/30/2022

  • We have been focused closely on bond structure, including their coupon, call protection, and convexity profile, as these factors will continue to play an increasingly important role in performance given the higher level of interest rates. We have been focusing on buying or swapping into higher coupon bonds, which are less sensitive to rate rises.
  • In terms of sectors, we are constructive on the Industrial Development, Transportation, and Education sectors. IDR bonds are linked to the improving quality of corporates, exhibit attractive yields relative to their credit ratings and we believe can withstand recession given sound balance sheets.  The portfolio’s exposure within the sector is a very diversified subset of corporate issuers from various industries, as well as an allocation to prepaid gas bonds. While underperforming during the pandemic, the Transportation sector continues to have upside potential due to heavy usage of airports, toll roads, and ports. Within the Health Care sector, the emphasis is on relatively liquid, acute care hospital.
  • The fundamental backdrop of the municipal market continues to show strength due to the significant Federal aid passed down to state and local governments, robust tax revenue growth and a better-than-expected economic recovery from the pandemic over the last two years. As such, upgrades have continued to overtake downgrades by a substantial margin throughout 2022 and state and local governments’ rainy-day balances rose to record levels this last fiscal year.
  • While municipal fundamentals are currently very positive, the credit environment may be impacted should the tightening of monetary policy by the Federal Reserve significantly reduce demand and/or push the U.S. economy into a recession. Of note, during past periods of economic contractions, municipals have historically shown lower default rates and a significantly lesser downgrade trajectory relative to corporate bonds along with a reduced correlation with other asset classes.
  • In terms of technicals, demand may continue to be weaker than 2021, especially if rate volatility continues. However, we do expect demand to recover. On the supply side, the summer months have historically been favorable, partly due to increasing bond redemptions, with a negative net supply projected for July and August. However, it would be negative for the market should supply come in higher than expected in concert with continuing outflows. Conversely, if Treasury yields stabilize and demand turns positive, munis stand to benefit.

Portfolio Details as of 08/31/2022

Total Net Assets
$3.76 B
Number of Issues
683
Average Coupon
4.5%
Average Effective Maturity
21.6 Years
Average Effective Duration
10.56 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.

Average Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.

Holding Coupon Maturity Assets
Buckeye Tobacco Settlement Financing Authority 5.000% 06/01/2055 1.5%
Main Street Natural Gas Inc 4.000% 08/01/2052 1.3%
Chicago Board of Education 5.000% 12/01/2047 1.0%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev 4.750% 07/01/2053 0.9%
Puerto Rico Commonwealth Aqueduct & Sewer Authorit 5.000% 07/01/2035 0.9%
Ohio Air Quality Development Authority 5.000% 07/01/2049 0.9%
County of Jefferson AL Sewer Revenue 6.500% 10/01/2053 0.8%
Sumter County Industrial Development Authority/AL 6.000% 07/15/2052 0.8%
TSASC Inc/NY 5.000% 06/01/2048 0.8%
Tobacco Settlement Financing Corp/VA 0.000% 06/01/2047 0.7%
% of Total Assets 9.6%

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.

Holdings as of08/31/2022

Holding Coupon Maturity Assets
Buckeye Tobacco Settlement Financing Authority5.000% 06/01/20551.5%
Main Street Natural Gas Inc4.000% 08/01/20521.3%
Chicago Board of Education5.000% 12/01/20471.0%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev4.750% 07/01/20530.9%
Puerto Rico Commonwealth Aqueduct & Sewer Authorit5.000% 07/01/20350.9%
Ohio Air Quality Development Authority5.000% 07/01/20490.9%
County of Jefferson AL Sewer Revenue6.500% 10/01/20530.8%
Sumter County Industrial Development Authority/AL6.000% 07/15/20520.8%
TSASC Inc/NY5.000% 06/01/20480.8%
Tobacco Settlement Financing Corp/VA0.000% 06/01/20470.7%
Capital Trust Agency Inc5.000% 07/01/20560.7%
New York Transportation Development Corp4.375% 10/01/20450.7%
Tuscaloosa County Industrial Development Authority5.250% 05/01/20440.7%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev5.000% 07/01/20580.6%
California Statewide Communities Development Autho5.250% 12/01/20560.6%
Commonwealth of Puerto Rico4.000% 07/01/20460.6%
Clifton Higher Education Finance Corp6.125% 08/15/20480.6%
Arkansas Development Finance Authority4.500% 09/01/20490.6%
Public Finance Authority7.000% 12/01/20500.6%
Arkansas Development Finance Authority5.450% 09/01/20520.6%
New York Transportation Development Corp5.000% 08/01/20310.6%
Tobacco Settlement Financing Corp5.000% 06/01/20460.6%
City of Chicago IL6.000% 01/01/20380.5%
Public Finance Authority4.250% 07/01/20540.5%
Duluth Economic Development Authority5.250% 02/15/20580.5%
City of Houston TX Airport System Revenue5.000% 07/01/20290.5%
New York Transportation Development Corp5.000% 10/01/20400.5%
Hoover Industrial Development Board5.750% 10/01/20490.5%
California Statewide Communities Development Autho5.500% 12/01/20580.5%
Berks County Industrial Development Authority5.000% 11/01/20500.5%
Tobacco Settlement Financing Corp/VA5.000% 06/01/20470.5%
California Housing Finance Agency3.250% 08/20/20360.5%
Florida Development Finance Corp3.000% 06/01/20320.4%
New Jersey Economic Development Authority5.250% 09/15/20290.4%
Bucks County Industrial Development Authority4.000% 07/01/20460.4%
Golden State Tobacco Securitization Corp0.000% 06/01/20660.4%
Kentucky Public Energy Authority4.000% 08/01/20520.4%
George L Smith II Congress Center Authority5.000% 01/01/20540.4%
Maricopa County Industrial Development Authority4.000% 10/15/20470.4%
Iowa Finance Authority5.000% 12/01/20500.4%
Arkansas Development Finance Authority4.750% 09/01/20490.4%
City of Oroville CA5.250% 04/01/20540.4%
New York Transportation Development Corp5.250% 01/01/20500.4%
Puerto Rico Commonwealth Aqueduct & Sewer Authorit5.000% 07/01/20300.4%
Memphis-Shelby County Airport Authority5.000% 07/01/20490.4%
State of Illinois5.000% 03/01/20460.4%
Development Authority of Burke County/The4.125% 11/01/20450.4%
New Jersey Transportation Trust Fund Authority0.000% 12/15/20290.4%
E-470 Public Highway Authority0.000% 09/01/20310.4%
Chicago Board of Education5.250% 12/01/20390.4%
California Statewide Communities Development Autho5.500% 12/01/20540.4%
Maryland Economic Development Corp5.250% 06/30/20550.4%
County of Muskingum OH5.000% 02/15/20440.4%
New York City Transitional Finance Authority Futur1.050% 02/01/20450.4%
State of Hawaii Department of Budget & Finance3.200% 07/01/20390.3%
County of Frederick MD5.000% 09/01/20450.3%
Maryland Economic Development Corp4.000% 09/01/20500.3%
Metropolitan Government Nashville & Davidson Count5.250% 10/01/20580.3%
Allentown Neighborhood Improvement Zone Developmen6.000% 05/01/20420.3%
Cleveland-Cuyahoga County Port Authority5.500% 12/01/20530.3%
CSCDA Community Improvement Authority3.000% 06/01/20470.3%
Tender Option Bond Trust Receipts/Certificates8.127% 11/15/20550.3%
Oklahoma Development Finance Authority5.500% 08/15/20520.3%
CSCDA Community Improvement Authority4.000% 12/01/20560.3%
Metropolitan Transportation Authority5.000% 11/15/20500.3%
New Hampshire Business Finance Authority4.875% 11/01/20420.3%
Calhoun County Navigation Industrial Development A3.625% 07/01/20260.3%
California Municipal Finance Authority5.625% 03/01/20450.3%
Commonwealth of Puerto Rico0.000% 11/01/20510.3%
Washington State Convention Center Public Faciliti4.000% 07/01/20310.3%
Port Beaumont Navigation District4.000% 01/01/20500.3%
Tender Option Bond Trust Receipts/Certificates5.250% 07/01/20520.3%
Indiana Finance Authority4.125% 12/01/20260.3%
Black Belt Energy Gas District4.000% 06/01/20510.3%
Chicago Board of Education5.000% 12/01/20420.3%
Roanoke County Economic Development Authority5.250% 09/01/20490.3%
Black Belt Energy Gas District4.000% 12/01/20520.3%
County of Campbell WY3.625% 07/15/20390.3%
Public Finance Authority5.000% 07/01/20420.3%
Port Authority of New York & New Jersey5.000% 11/15/20410.3%
Commonwealth of Puerto Rico4.000% 07/01/20410.3%
City of New Orleans LA5.000% 12/01/20460.3%
State of Illinois5.500% 05/01/20300.3%
City of Fruita CO Healthcare Revenue5.500% 01/01/20480.3%
Montgomery County Industrial Development Authority5.250% 01/15/20450.3%
Chicago Board of Education5.000% 12/01/20370.3%
Iowa Finance Authority4.000% 12/01/20500.3%
Commonwealth of Puerto Rico0.000% 11/01/20430.3%
Berks County Industrial Development Authority4.000% 11/01/20470.3%
Chicago Board of Education5.000% 12/01/20330.3%
Public Finance Authority4.000% 09/30/20510.3%
Michigan Tobacco Settlement Finance Authority0.000% 06/01/20580.3%
West Pace Cooperative District0.000% 05/01/20390.3%
Buffalo & Erie County Industrial Land Development5.000% 07/01/20400.3%
Metropolitan Transportation Authority5.250% 11/15/20440.3%
Puerto Rico Commonwealth Aqueduct & Sewer Authorit5.000% 07/01/20250.3%
Spring Valley Community Infrastructure District No3.750% 09/01/20510.3%
Berks County Industrial Development Authority5.000% 11/01/20470.3%
California Municipal Finance Authority4.000% 12/31/20470.3%
Iowa Finance Authority4.750% 08/01/20420.3%
Jefferson County Port Authority/OH3.500% 12/01/20510.3%
State of Illinois4.000% 10/01/20340.3%
State of Illinois4.250% 10/01/20450.3%
Niagara Area Development Corp4.750% 11/01/20420.3%
Washington State Convention Center Public Faciliti4.000% 07/01/20580.3%
City of Chicago IL5.500% 01/01/20490.3%
Tender Option Bond Trust Receipts/Certificates7.722% 07/01/20560.3%
Build NYC Resource Corp5.000% 06/15/20510.3%
Capital Trust Agency Inc5.000% 06/15/20490.3%
Metropolitan Pier & Exposition Authority5.500% 06/15/20530.3%
Shelby County Health Educational & Housing Facilit5.750% 10/01/20590.3%
California Community Housing Agency4.000% 02/01/20500.2%
California Community Housing Agency3.000% 02/01/20570.2%
Development Authority Of The City Of Marietta5.000% 11/01/20370.2%
Maryland Economic Development Corp5.750% 09/01/20250.2%
Public Finance Authority5.000% 10/01/20520.2%
State of Illinois5.500% 05/01/20390.2%
Dutchess County Local Development Corp5.000% 07/01/20510.2%
Vermont Economic Development Authority5.000% 06/01/20520.2%
California Statewide Communities Development Autho5.250% 12/01/20440.2%
Military Installation Development Authority4.000% 06/01/20520.2%
New York Transportation Development Corp4.000% 01/01/20360.2%
Main Street Natural Gas Inc4.000% 05/01/20520.2%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev4.550% 07/01/20400.2%
Moon Industrial Development Authority6.000% 07/01/20450.2%
Parish of St James LA6.350% 10/01/20400.2%
County of Cuyahoga OH5.500% 02/15/20520.2%
Main Street Natural Gas Inc5.000% 05/15/20490.2%
California Community Housing Agency5.000% 08/01/20500.2%
Maricopa County Industrial Development Authority5.500% 10/01/20510.2%
County of Ward ND5.000% 06/01/20530.2%
American Samoa Economic Development Authority7.125% 09/01/20380.2%
Ohio Air Quality Development Authority3.250% 09/01/20290.2%
Capital Trust Agency Inc5.000% 12/15/20550.2%
Commonwealth of Puerto Rico5.625% 07/01/20270.2%
Development Authority Of The City Of Marietta5.000% 11/01/20470.2%
New York State Dormitory Authority5.000% 07/15/20500.2%
Central Plains Energy Project5.000% 09/01/20420.2%
New York City Transitional Finance Authority Futur1.080% 11/01/20440.2%
County of Jefferson AL Sewer Revenue6.000% 10/01/20420.2%
New Jersey Transportation Trust Fund Authority0.000% 12/15/20340.2%
District of Columbia Tobacco Settlement Financing0.000% 06/15/20550.2%
Puerto Rico Commonwealth Aqueduct & Sewer Authorit4.000% 07/01/20420.2%
California Municipal Finance Authority5.000% 08/01/20480.2%
Niagara Area Development Corp5.000% 07/01/20520.2%
Polk County Industrial Development Authority5.875% 01/01/20330.2%
Metropolitan Transportation Authority5.000% 11/15/20480.2%
Buckeye Tobacco Settlement Financing Authority0.000% 06/01/20570.2%
Maryland Health & Higher Educational Facilities Au5.000% 07/01/20380.2%
Chicago Board of Education7.000% 12/01/20460.2%
Municipal Electric Authority of Georgia5.000% 01/01/20590.2%
Chicago Board of Education5.250% 12/01/20350.2%
CSCDA Community Improvement Authority3.000% 03/01/20570.2%
Industrial Development Authority of the City of Ph5.000% 07/01/20450.2%
New York Liberty Development Corp5.150% 11/15/20340.2%
New Jersey Transportation Trust Fund Authority0.000% 12/15/20380.2%
River Islands Public Financing Authority5.500% 09/01/20450.2%
New York Transportation Development Corp5.250% 08/01/20310.2%
TSASC Inc/NY5.000% 06/01/20450.2%
CSCDA Community Improvement Authority3.125% 08/01/20560.2%
New York Transportation Development Corp5.375% 08/01/20360.2%
Village Community Development District No 124.250% 05/01/20430.2%
Public Finance Authority5.125% 06/01/20480.2%
Public Finance Authority5.000% 01/01/20240.2%
Holmes County Hospital Corp0.000% 11/01/20380.2%
New Jersey Economic Development Authority5.500% 06/01/20330.2%
North Parkway Municipal Management District No 15.000% 09/15/20510.2%
Florida Development Finance Corp5.250% 08/01/20290.2%
Public Finance Authority4.000% 03/31/20560.2%
Mida Mountain Village Public Infrastructure Distri4.000% 08/01/20500.2%
State of Illinois4.000% 06/01/20370.2%
Celebration Pointe Community Development District5.000% 05/01/20480.2%
Rhode Island Health and Educational Building Corp5.000% 09/01/20360.2%
Clifton Higher Education Finance Corp5.750% 08/15/20450.2%
Colorado International Center Metropolitan Distric5.875% 12/01/20460.2%
County of Muskingum OH5.000% 02/15/20480.2%
UIPA Crossroads Public Infrastructure District4.375% 06/01/20520.2%
New York State Dormitory Authority3.000% 03/15/20420.2%
City of Jacksonville FL5.000% 06/01/20530.2%
Florida Higher Educational Facilities Financial Au5.000% 06/01/20480.2%
New York Transportation Development Corp5.000% 01/01/20240.2%
Territory of Guam4.000% 01/01/20360.2%
Massachusetts Development Finance Agency4.000% 06/01/20490.2%
County of Howard MD5.000% 04/01/20460.2%
Maryland Economic Development Corp0.000% 12/01/20310.2%
Virginia Small Business Financing Authority4.000% 01/01/20480.2%
Commonwealth of Puerto Rico5.375% 07/01/20250.2%
Territory of Guam4.000% 01/01/20420.2%
Louisiana Local Government Environmental Facilitie6.250% 11/15/20450.2%
South Carolina Jobs-Economic Development Authority5.000% 11/01/20460.2%
Metropolitan Pier & Exposition Authority5.000% 06/15/20530.2%
Mida Mountain Village Public Infrastructure Distri5.000% 08/01/20500.2%
New York City Industrial Development Agency5.000% 07/01/20280.2%
Public Authority for Colorado Energy6.500% 11/15/20380.2%
CSCDA Community Improvement Authority4.000% 08/01/20560.2%
Public Finance Authority4.000% 07/01/20610.2%
Public Finance Authority5.250% 10/01/20480.2%
Puerto Rico Commonwealth Aqueduct & Sewer Authorit5.000% 07/01/20370.2%
California Statewide Financing Authority0.000% 06/01/20460.2%
Capital Trust Agency Inc5.000% 12/15/20500.2%
Farmville Industrial Development Authority5.000% 01/01/20590.2%
Parish of St James LA6.100% 06/01/20380.2%
City of Scranton PA5.000% 11/15/20320.2%
New York Liberty Development Corp2.500% 11/15/20360.2%
American Samoa Economic Development Authority5.000% 09/01/20380.2%
Massachusetts Educational Financing Authority4.125% 07/01/20460.2%
Chicago Board of Education5.000% 12/01/20390.2%
Main Street Natural Gas Inc4.000% 03/01/20500.2%
Oklahoma Development Finance Authority5.000% 08/01/20490.2%
State of Illinois5.500% 03/01/20420.2%
County of Cuyahoga OH5.000% 02/15/20570.2%
Allentown Neighborhood Improvement Zone Developmen5.375% 05/01/20420.2%
Green Valley Ranch East Metropolitan District No 65.875% 12/01/20500.2%
Louisiana Local Government Environmental Facilitie2.500% 04/01/20360.2%
New York City Transitional Finance Authority Futur1.050% 02/01/20450.2%
Port Beaumont Navigation District3.625% 01/01/20350.2%
Industrial Development Authority of the County of5.000% 07/01/20490.2%
University of Illinois4.000% 04/01/20370.2%
New Mexico Hospital Equipment Loan Council5.500% 07/01/20420.2%
Puerto Rico Electric Power Authority0.000% 07/01/20240.2%
New Jersey Economic Development Authority5.000% 06/15/20470.2%
Parish of St James LA6.350% 07/01/20400.1%
Pennsylvania Economic Development Financing Author3.250% 08/01/20390.1%
Chicago Board of Education5.000% 12/01/20300.1%
County of Jefferson AL Sewer Revenue0.000% 10/01/20460.1%
Roanoke Economic Development Authority3.000% 07/01/20450.1%
Rocky Mountain Rail Park Metropolitan District5.000% 12/01/20510.1%
Chicago Board of Education6.500% 12/01/20460.1%
Lower Alabama Gas District/The5.000% 09/01/20340.1%
Chicago Board of Education5.000% 12/01/20300.1%
County of Jefferson AL Sewer Revenue5.000% 10/01/20440.1%
Chicago Board of Education5.000% 12/01/20290.1%
Glendale Industrial Development Authority5.000% 11/15/20530.1%
Michigan State Housing Development Authority3.600% 10/01/20600.1%
PEFA Inc5.000% 09/01/20490.1%
Charlotte County Industrial Development Authority/5.000% 10/01/20490.1%
Chicago Board of Education5.000% 12/01/20380.1%
Foothill-Eastern Transportation Corridor Agency6.000% 01/15/20490.1%
New Hampshire Business Finance Authority4.375% 09/20/20360.1%
Tender Option Bond Trust Receipts/Certificates5.000% 07/01/20530.1%
Utah Charter School Finance Authority5.375% 06/15/20480.1%
County of Miami-Dade FL Aviation Revenue5.000% 10/01/20440.1%
Florida Development Finance Corp6.125% 06/15/20460.1%
Metropolitan Pier & Exposition Authority0.000% 12/15/20360.1%
New Jersey Economic Development Authority5.000% 06/15/20430.1%
New Jersey Transportation Trust Fund Authority5.000% 06/15/20450.1%
Academical Village Community Development District4.000% 05/01/20510.1%
County of Prince George's MD5.250% 07/01/20480.1%
County of Tuscarawas OH6.000% 03/01/20450.1%
New York City Municipal Water Finance Authority1.150% 06/15/20450.1%
Mission Economic Development Corp4.625% 10/01/20310.1%
Southeastern Ohio Port Authority5.500% 12/01/20430.1%
Chicago O'Hare International Airport5.000% 01/01/20480.1%
Duluth Economic Development Authority5.000% 02/15/20530.1%
Duluth Economic Development Authority5.250% 06/15/20520.1%
Illinois Finance Authority5.000% 09/01/20380.1%
New Jersey Economic Development Authority5.625% 01/01/20520.1%
Prince George's County Revenue Authority5.000% 07/01/20460.1%
Bucks County Industrial Development Authority5.000% 07/01/20540.1%
Chester County Industrial Development Authority5.375% 10/15/20420.1%
Chicago O'Hare International Airport5.000% 01/01/20520.1%
County of Cuyahoga OH5.500% 02/15/20570.1%
County of Jefferson AL Sewer Revenue0.000% 10/01/20390.1%
Arlington Higher Education Finance Corp5.500% 08/15/20460.1%
Chicago Board of Education5.000% 12/01/20440.1%
Montgomery County Industrial Development Authority5.375% 01/01/20500.1%
Northern Palm Beach County Improvement District5.000% 08/01/20460.1%
Parish of Beauregard LA6.800% 02/01/20270.1%
Puerto Rico Commonwealth Aqueduct & Sewer Authorit5.000% 07/01/20470.1%
Fulton County Industrial Development Authority5.000% 07/01/20510.1%
Pennsylvania Economic Development Financing Author9.000% 04/01/20510.1%
Illinois Finance Authority4.000% 09/01/20410.1%
Puerto Rico Commonwealth Aqueduct & Sewer Authorit5.000% 07/01/20330.1%
Scranton Redevelopment Authority5.000% 11/15/20280.1%
Board of Managers Joint Guadalupe County-City of S5.000% 12/01/20400.1%
Metropolitan Pier & Exposition Authority0.000% 12/15/20370.1%
City of Coralville IA4.000% 05/01/20410.1%
New York Transportation Development Corp2.250% 08/01/20260.1%
Arizona Industrial Development Authority5.000% 07/01/20540.1%
North Range Metropolitan District No 35.250% 12/01/20500.1%
Kirkwood Industrial Development Authority5.250% 05/15/20500.1%
Pennsylvania Turnpike Commission5.000% 12/01/20440.1%
Maricopa County Pollution Control Corp3.600% 02/01/20400.1%
Port Beaumont Navigation District3.000% 01/01/20500.1%
Silicon Valley Tobacco Securitization Authority0.000% 06/01/20360.1%
Washington State Convention Center Public Faciliti3.000% 07/01/20480.1%
State of Illinois5.500% 03/01/20470.1%
Miami World Center Community Development District5.250% 11/01/20490.1%
Connecticut State Health & Educational Facilities0.800% 07/01/20420.1%
Tuscaloosa County Industrial Development Authority4.500% 05/01/20320.1%
Florida Development Finance Corp5.000% 05/01/20290.1%
State of Illinois3.500% 06/01/20290.1%
Fulton County Industrial Development Authority5.000% 07/01/20460.1%
California Municipal Finance Authority4.000% 07/15/20290.1%
Columbus-Franklin County Finance Authority6.500% 03/01/20480.1%
Jefferson Parish Economic Development & Port Distr5.625% 06/15/20480.1%
Puerto Rico Commonwealth Aqueduct & Sewer Authorit4.000% 07/01/20420.1%
Massachusetts Development Finance Agency5.000% 07/01/20510.1%
State of Hawaii Department of Budget & Finance4.000% 03/01/20370.1%
Metropolitan Pier & Exposition Authority0.000% 06/15/20370.1%
Tobacco Settlement Financing Corp/RI0.000% 06/01/20520.1%
Atlanta Development Authority/The7.000% 01/01/20400.1%
Public Finance Authority4.300% 11/01/20300.1%
Virginia Small Business Financing Authority4.000% 01/01/20380.1%
Virginia Small Business Financing Authority3.375% 01/01/20510.1%
Public Finance Authority4.625% 06/01/20360.1%
Allegheny County Industrial Development Authority5.125% 05/01/20300.1%
City of Valparaiso IN7.000% 01/01/20440.1%
Cleveland-Cuyahoga County Port Authority4.000% 12/01/20550.1%
Matching Fund Special Purpose Securitization Corp5.000% 10/01/20390.1%
King County Public Hospital District No 46.250% 12/01/20450.1%
Antelope Valley Healthcare District5.000% 03/01/20410.1%
Roanoke County Economic Development Authority5.375% 09/01/20540.1%
Village Metropolitan District/The5.000% 12/01/20490.1%
Babcock Ranch Community Independent Special Distri5.000% 05/01/20420.1%
Berks County Industrial Development Authority4.000% 11/01/20500.1%
City of Coralville IA4.500% 06/01/20320.1%
Orange County Community Facilities District5.000% 08/15/20520.1%
Babcock Ranch Community Independent Special Distri5.000% 05/01/20530.1%
Dutchess County Local Development Corp5.000% 07/01/20450.1%
Indiana Finance Authority6.750% 05/01/20390.1%
Industrial Development Authority of the City of St4.750% 11/15/20470.1%
New Hampshire Business Finance Authority3.750% 07/01/20450.1%
New Jersey Economic Development Authority5.500% 06/15/20290.1%
State of Illinois5.000% 03/01/20370.1%
CMFA Special Finance Agency4.000% 12/01/20450.1%
Lower Colorado River Authority5.000% 05/15/20510.1%
Puerto Rico Electric Power Authority0.000% 07/01/20420.1%
Tahoe-Douglas Visitors Authority5.000% 07/01/20510.1%
Wisconsin Health & Educational Facilities Authorit5.375% 02/01/20480.1%
New Jersey Economic Development Authority5.000% 06/15/20430.1%
City of Henderson KY3.700% 01/01/20320.1%
Florida Development Finance Corp5.000% 07/15/20460.1%
Maricopa County Industrial Development Authority5.000% 07/01/20470.1%
South Carolina Jobs-Economic Development Authority5.000% 11/01/20420.1%
Triborough Bridge & Tunnel Authority3.000% 11/15/20460.1%
City of Reno NV0.000% 07/01/20580.1%
Gainesville & Hall County Hospital Authority5.500% 08/15/20540.1%
Arlington Higher Education Finance Corp5.000% 06/15/20510.1%
New York State Dormitory Authority5.000% 07/15/20420.1%
CSCDA Community Improvement Authority4.000% 06/01/20570.1%
Foothill-Eastern Transportation Corridor Agency4.000% 01/15/20430.1%
Denver Health & Hospital Authority5.250% 12/01/20450.1%
City of Compton CA Water Revenue6.000% 08/01/20390.1%
Industrial Development Authority of the County of5.000% 07/01/20550.1%
Iowa Tobacco Settlement Authority4.000% 06/01/20490.1%
Capital Trust Agency Inc5.000% 12/15/20400.1%
Michigan Finance Authority4.000% 06/01/20490.1%
Chester County Health and Education Facilities Aut5.000% 11/01/20370.1%
Fort Bend County Industrial Development Corp4.750% 11/01/20420.1%
Holmes County Hospital Corp0.000% 11/01/20260.1%
Nassau County Tobacco Settlement Corp5.250% 06/01/20260.1%
Chicago Transit Authority Sales Tax Receipts Fund4.000% 12/01/20550.1%
City of Houston TX Airport System Revenue5.000% 07/15/20280.1%
Ohio Air Quality Development Authority4.250% 11/01/20390.1%
Maricopa County Pollution Control Corp2.400% 06/01/20350.1%
Puerto Rico Commonwealth Aqueduct & Sewer Authorit5.000% 07/01/20370.1%
City & County of Denver CO Airport System Revenue5.500% 11/15/20250.1%
Inland Valley Development Agency5.250% 09/01/20370.1%
Chester County Health and Education Facilities Aut5.000% 11/01/20460.1%
Philadelphia Authority for Industrial Development6.625% 06/01/20500.1%
City of Chicago IL5.500% 01/01/20330.1%
City of Fruita CO Healthcare Revenue5.375% 01/01/20330.1%
Michigan Finance Authority5.000% 06/01/20490.1%
New Jersey Transportation Trust Fund Authority5.000% 12/15/20350.1%
Allegheny County Airport Authority5.000% 01/01/20510.1%
California Housing Finance Agency4.250% 01/15/20350.1%
California Statewide Communities Development Autho5.000% 12/01/20410.1%
County of Frederick MD4.000% 07/01/20500.1%
Prairie Center Metropolitan District No 35.000% 12/15/20410.1%
Allentown Neighborhood Improvement Zone Developmen5.250% 05/01/20420.1%
Antelope Valley Healthcare District5.000% 03/01/20460.1%
Doylestown Hospital Authority4.000% 07/01/20450.1%
Florence Town Inc Industrial Development Authority6.000% 07/01/20430.1%
Virginia Small Business Financing Authority5.000% 07/01/20360.1%
City of Blaine MN6.125% 07/01/20500.1%
Cleveland-Cuyahoga County Port Authority4.500% 12/01/20550.1%
Jefferson Parish Economic Development & Port Distr5.500% 06/15/20380.1%
Metropolitan Pier & Exposition Authority5.500% 06/15/20290.1%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev0.000% 07/01/20330.1%
Chicago Transit Authority Sales Tax Receipts Fund4.000% 12/01/20500.1%
Regional Transportation District3.000% 07/15/20370.1%
Virginia Small Business Financing Authority5.000% 01/01/20350.1%
Maricopa County Industrial Development Authority5.250% 10/01/20400.1%
Mida Mountain Village Public Infrastructure Distri4.250% 08/01/20350.1%
Monongalia County Commission Excise Tax District4.875% 06/01/20430.1%
Virginia Small Business Financing Authority5.000% 01/01/20480.1%
American Samoa Economic Development Authority6.500% 09/01/20280.1%
Arizona Industrial Development Authority5.000% 07/01/20510.1%
Arizona Industrial Development Authority5.750% 07/01/20530.1%
Commonwealth of Puerto Rico5.625% 07/01/20290.1%
West Villages Improvement District5.000% 05/01/20500.1%
Commonwealth of Puerto Rico5.750% 07/01/20310.1%
Nassau County Tobacco Settlement Corp5.000% 06/01/20350.1%
Parish of St James LA6.100% 12/01/20400.1%
Louisiana Public Facilities Authority5.000% 07/01/20590.1%
River Islands Public Financing Authority5.500% 09/01/20450.1%
Columbus-Franklin County Finance Authority6.500% 03/01/20530.1%
Commonwealth of Puerto Rico5.250% 07/01/20230.1%
Industrial Development Authority of the City of St4.375% 11/15/20350.1%
Berks County Municipal Authority/The5.000% 02/01/20400.1%
County of Jefferson AL Sewer Revenue0.000% 10/01/20280.1%
County of Wilson KS5.600% 09/01/20360.1%
Massachusetts Development Finance Agency5.000% 07/01/20410.1%
New York State Dormitory Authority5.250% 01/01/20340.1%
New York State Urban Development Corp3.000% 03/15/20470.1%
Upper San Juan Health Service District Medical Cen6.125% 06/01/20460.1%
Commonwealth of Pennsylvania4.000% 07/01/20460.1%
Foothill-Eastern Transportation Corridor Agency0.000% 01/15/20330.1%
New Hope Cultural Education Facilities Finance Cor4.000% 08/15/20410.1%
North Parkway Municipal Management District No 14.750% 09/15/20410.1%
Northern Palm Beach County Improvement District5.000% 08/01/20460.1%
St Louis Municipal Finance Corp5.000% 10/01/20490.1%
Tobacco Securitization Authority of Southern Calif0.000% 06/01/20540.1%
Arlington Higher Education Finance Corp5.000% 06/15/20410.1%
Atlanta Urban Redevelopment Agency3.875% 07/01/20510.1%
New Jersey Transportation Trust Fund Authority5.000% 06/15/20500.1%
New York Liberty Development Corp3.000% 09/15/20430.1%
Tulsa County Industrial Authority5.250% 11/15/20450.1%
Glendale Industrial Development Authority5.000% 11/15/20400.1%
Michigan Strategic Fund4.500% 06/30/20480.1%
New Hampshire Business Finance Authority5.000% 07/01/20510.1%
Tahoe-Douglas Visitors Authority5.000% 07/01/20450.1%
Village Community Development District No 124.375% 05/01/20500.1%
City of Houston TX Airport System Revenue4.750% 07/01/20240.1%
County of Muskingum OH5.000% 02/15/20330.1%
Maricopa County Pollution Control Corp3.600% 04/01/20400.1%
Puerto Rico Electric Power Authority0.000% 07/01/20420.1%
Village Community Development District No 133.250% 05/01/20520.1%
City of Henderson KY4.450% 01/01/20420.1%
Nassau County Tobacco Settlement Corp0.000% 06/01/20600.1%
River Islands Public Financing Authority5.250% 09/01/20520.1%
St Louis Municipal Finance Corp5.000% 10/01/20450.1%
County of Howard MD5.000% 04/01/20440.1%
Crawford County Hospital Authority6.000% 06/01/20510.1%
State of Illinois4.000% 11/01/20440.1%
Arizona Industrial Development Authority5.000% 06/01/20580.1%
Inland Empire Tobacco Securitization Corp0.000% 06/01/20570.1%
Massachusetts Development Finance Agency4.000% 07/01/20400.1%
Matching Fund Special Purpose Securitization Corp5.000% 10/01/20300.1%
Chicago Board of Education5.000% 12/01/20310.1%
Michigan Finance Authority5.000% 09/01/20500.1%
Oconee County Industrial Development Authority6.375% 12/01/20530.1%
Palomar Health5.000% 11/01/20390.1%
Public Finance Authority6.850% 10/01/20470.1%
Tennessee Energy Acquisition Corp5.000% 05/01/20520.1%
Arizona Industrial Development Authority6.000% 07/01/20470.1%
New York Transportation Development Corp5.000% 12/01/20420.1%
Chester County Industrial Development Authority5.250% 10/15/20470.1%
New Hope Cultural Education Facilities Finance Cor4.000% 08/15/20460.1%
New York Transportation Development Corp5.000% 08/01/20260.1%
Philadelphia Authority for Industrial Development6.500% 06/01/20450.1%
State of Illinois4.000% 11/01/20410.1%
Allentown Neighborhood Improvement Zone Developmen5.000% 05/01/20320.1%
American Samoa Economic Development Authority6.625% 09/01/20350.1%
Public Finance Authority4.000% 07/01/20510.1%
Municipal Electric Authority of Georgia5.000% 01/01/20630.1%
Niagara Area Development Corp3.500% 11/01/20240.1%
California School Finance Authority5.125% 07/01/20440.1%
Chicago Board of Education7.000% 12/01/20440.1%
Denver International Business Center Metropolitan6.000% 12/01/20480.1%
Rockland Tobacco Asset Securitization Corp0.000% 08/15/20600.1%
Texas Transportation Commission State Highway 2495.000% 08/01/20570.1%
Florida Development Finance Corp6.375% 05/15/20370.1%
Guam Government Waterworks Authority5.000% 01/01/20500.1%
Maricopa County Industrial Development Authority5.000% 07/01/20490.1%
Tobacco Securitization Authority of Southern Calif0.000% 06/01/20460.1%
Chicago Board of Education6.750% 12/01/20300.1%
Crawford County Hospital Authority6.000% 06/01/20460.1%
Arizona Industrial Development Authority5.625% 07/01/20480.1%
Tobacco Securitization Authority of Southern Calif5.000% 06/01/20480.1%
Anson Education Facilities Corp5.000% 08/15/20450.1%
California Pollution Control Financing Authority5.000% 11/21/20450.1%
Charlotte County Industrial Development Authority/4.000% 10/01/20410.1%
City & County of San Francisco CA Special Tax Dist4.000% 09/01/20460.1%
Hoover Industrial Development Board6.375% 11/01/20500.1%
Tobacco Settlement Financing Corp/VA0.000% 06/01/20470.1%
Upper San Juan Health Service District Medical Cen6.000% 06/01/20410.1%
County of Berkeley SC4.250% 11/01/20400.1%
Anne Arundel County Consolidated Special Taxing Di5.250% 07/01/20440.1%
County of Frederick MD4.625% 07/01/20430.1%
Doylestown Hospital Authority5.000% 07/01/20490.1%
Florida Development Finance Corp5.000% 09/15/20500.1%
Florida Development Finance Corp5.000% 06/15/20500.1%
Peninsula Town Center Community Development Author5.000% 09/01/20450.1%
Southeast Energy Authority A Cooperative District4.000% 11/01/20510.1%
City of Oroville CA5.250% 04/01/20390.1%
Brighton Crossing Metropolitan District No 65.000% 12/01/20500.1%
Chicago Board of Education5.000% 12/01/20320.1%
Iowa Higher Education Loan Authority5.375% 10/01/20520.1%
Monongalia County Commission Excise Tax District4.125% 06/01/20430.1%
Public Finance Authority5.750% 11/15/20440.1%
Virginia Small Business Financing Authority5.000% 07/01/20370.1%
California Statewide Financing Authority0.000% 06/01/20550.1%
Franklin Health & Educational Facilities Board0.000% 06/01/20470.1%
Municipal Electric Authority of Georgia5.000% 01/01/20480.1%
New Jersey Economic Development Authority5.000% 06/15/20420.1%
Oklahoma Development Finance Authority5.250% 08/15/20480.1%
Orange County Community Facilities District5.000% 08/15/20420.1%
Orange County Community Facilities District5.000% 08/15/20470.1%
Public Finance Authority5.250% 10/01/20430.1%
Public Finance Authority5.000% 12/01/20250.1%
State of Illinois4.000% 03/01/20400.1%
Greater Orlando Aviation Authority5.000% 11/15/20360.1%
Industrial Development Authority of the City of Ph5.000% 07/01/20460.1%
Village Metropolitan District/The5.000% 12/01/20400.1%
Academical Village Community Development District3.625% 05/01/20400.1%
Illinois Finance Authority4.000% 10/01/20420.1%
Metropolitan Transportation Authority5.000% 11/15/20450.1%
North Range Metropolitan District No 35.000% 12/01/20400.1%
Arizona Industrial Development Authority5.000% 07/01/20490.1%
Capital Trust Agency Inc5.000% 06/15/20390.1%
Chicago Board of Education5.000% 12/01/20360.1%
Cleveland-Cuyahoga County Port Authority5.500% 12/01/20430.1%
District of Columbia Tobacco Settlement Financing0.000% 06/15/20550.1%
Main Street Natural Gas Inc5.000% 05/15/20430.1%
Public Finance Authority4.000% 07/01/20410.1%
California County Tobacco Securitization Agency4.000% 06/01/20490.1%
California Enterprise Development Authority5.000% 08/01/20570.1%
Michigan Strategic Fund4.250% 12/31/20380.1%
New York State Environmental Facilities Corp3.125% 12/01/20440.1%
Chicago Transit Authority Sales Tax Receipts Fund5.000% 12/01/20550.1%
City of Reno NV0.000% 07/01/20580.0%
Arkansas Development Finance Authority3.500% 07/01/20460.0%
CSCDA Community Improvement Authority4.000% 09/01/20460.0%
Illinois Finance Authority5.000% 09/01/20400.0%
Maryland Economic Development Corp0.000% 12/01/20310.0%
Rocky Mountain Rail Park Metropolitan District5.000% 12/01/20410.0%
UIPA Crossroads Public Infrastructure District4.125% 06/01/20410.0%
Massachusetts Development Finance Agency5.000% 07/01/20560.0%
Oconee County Industrial Development Authority6.250% 12/01/20480.0%
West Villages Improvement District4.750% 05/01/20390.0%
Erie Tobacco Asset Securitization Corp0.000% 06/01/20600.0%
New Hampshire Business Finance Authority5.000% 07/01/20410.0%
Southeastern Ohio Port Authority6.000% 12/01/20420.0%
Atlanta Urban Redevelopment Agency3.625% 07/01/20420.0%
California Statewide Communities Development Autho5.250% 11/15/20340.0%
Kirkwood Industrial Development Authority5.250% 05/15/20420.0%
Michigan Finance Authority4.800% 09/01/20400.0%
Silicon Valley Tobacco Securitization Authority0.000% 06/01/20560.0%
Build NYC Resource Corp5.000% 12/01/20510.0%
City of Baltimore MD5.000% 06/01/20510.0%
Florida Development Finance Corp5.000% 06/15/20550.0%
Maryland Economic Development Corp4.000% 09/01/20400.0%
New Hampshire Business Finance Authority5.000% 07/01/20560.0%
Public Finance Authority6.850% 11/01/20460.0%
Virginia Small Business Financing Authority5.000% 01/01/20330.0%
Central Texas Regional Mobility Authority5.000% 01/01/20460.0%
Chicago Board of Education5.000% 12/01/20330.0%
Harris County Cultural Education Facilities Financ5.125% 01/01/20480.0%
New York State Dormitory Authority4.000% 07/01/20450.0%
County of Frederick MD5.000% 09/01/20370.0%
New Jersey Economic Development Authority5.000% 06/01/20360.0%
Town of Rumford ME6.875% 10/01/20260.0%
Build NYC Resource Corp5.000% 01/01/20350.0%
California Municipal Finance Authority5.000% 12/01/20460.0%
City of Henderson KY4.450% 01/01/20420.0%
Downtown Doral South Community Development Distric5.000% 12/15/20480.0%
Massachusetts Development Finance Agency4.000% 07/01/20450.0%
New Hampshire Business Finance Authority3.625% 07/01/20430.0%
State of Nevada Department of Business & Industry5.000% 12/15/20480.0%
California County Tobacco Securitization Agency5.000% 06/01/20500.0%
Clackamas County Hospital Facility Authority5.375% 11/15/20550.0%
Cleveland-Cuyahoga County Port Authority5.250% 12/01/20380.0%
County of Berkeley SC4.375% 11/01/20490.0%
Glendale Industrial Development Authority5.000% 11/15/20360.0%
Maricopa County Industrial Development Authority5.000% 07/01/20540.0%
Public Finance Authority4.000% 07/01/20510.0%
Wisconsin Health & Educational Facilities Authorit5.000% 08/01/20390.0%
Arlington Higher Education Finance Corp5.000% 08/15/20510.0%
Capital Trust Agency Inc5.000% 12/15/20490.0%
City of New Haven CT5.500% 08/01/20370.0%
Arizona Industrial Development Authority5.000% 07/01/20470.0%
Berks County Municipal Authority/The5.000% 02/01/20400.0%
Finance Authority of Maine4.375% 08/01/20350.0%
Glendale Industrial Development Authority5.000% 11/15/20450.0%
New Hampshire Business Finance Authority4.000% 11/01/20270.0%
New York Transportation Development Corp5.000% 01/01/20360.0%
Puerto Rico Electric Power Authority0.000% 07/01/20380.0%
State of Illinois4.500% 11/01/20390.0%
Utah Charter School Finance Authority5.000% 06/15/20520.0%
Mida Mountain Village Public Infrastructure Distri4.500% 08/01/20400.0%
New Jersey Economic Development Authority5.375% 01/01/20430.0%
Pennsylvania Turnpike Commission3.000% 12/01/20420.0%
State of Illinois4.000% 03/01/20410.0%
Build NYC Resource Corp5.000% 12/01/20410.0%
County of Prince George's MD5.125% 07/01/20390.0%
Atlanta Development Authority/The0.000% 01/01/20230.0%
City of New Haven CT5.500% 08/01/20330.0%
Illinois Finance Authority4.000% 10/01/20350.0%
Kentucky Economic Development Finance Authority5.375% 11/15/20320.0%
New York State Dormitory Authority4.000% 09/01/20500.0%
New York Transportation Development Corp5.000% 12/01/20350.0%
New York Transportation Development Corp5.000% 12/01/20370.0%
State of Illinois5.750% 05/01/20450.0%
State of Illinois4.000% 03/01/20380.0%
Texas Private Activity Bond Surface Transportation4.000% 06/30/20400.0%
Anne Arundel County Consolidated Special Taxing Di5.125% 07/01/20360.0%
Antelope Valley Healthcare District5.250% 03/01/20360.0%
Chester County Industrial Development Authority5.125% 10/15/20370.0%
City of Chicago IL5.500% 01/01/20370.0%
City of Scranton PA5.000% 09/01/20290.0%
Florida Development Finance Corp5.000% 09/15/20400.0%
Military Installation Development Authority4.000% 06/01/20410.0%
Parish of St James LA5.850% 08/01/20410.0%
Charlotte County Industrial Development Authority/5.000% 10/01/20340.0%
City of Oroville CA5.250% 04/01/20490.0%
Clifton Higher Education Finance Corp6.000% 08/15/20430.0%
Pennsylvania Economic Development Financing Author5.500% 11/01/20440.0%
South Carolina Jobs-Economic Development Authority4.000% 06/01/20460.0%
Utah Charter School Finance Authority5.000% 06/15/20410.0%
Wisconsin Health & Educational Facilities Authorit5.000% 11/01/20460.0%
Build NYC Resource Corp5.000% 12/01/20550.0%
Village Community Development District No 133.000% 05/01/20410.0%
Wisconsin Health & Educational Facilities Authorit5.000% 11/01/20390.0%
Public Finance Authority4.000% 07/01/20560.0%
Board of Managers Joint Guadalupe County-City of S5.000% 12/01/20450.0%
District of Columbia Tobacco Settlement Financing0.000% 06/15/20460.0%
Michigan Finance Authority4.300% 09/01/20300.0%
New York Transportation Development Corp4.000% 12/01/20400.0%
Plymouth Educational Center Charter School5.375% 11/01/20300.0%
Public Finance Authority6.750% 12/01/20420.0%
South Carolina Jobs-Economic Development Authority4.000% 06/01/20360.0%
Arlington Higher Education Finance Corp5.000% 08/15/20410.0%
Celebration Pointe Community Development District4.000% 05/01/20530.0%
City of Baltimore MD4.875% 06/01/20420.0%
Monroe Tobacco Asset Securitization Corp0.000% 06/01/20610.0%
Peninsula Town Center Community Development Author5.000% 09/01/20370.0%
Atlanta Development Authority/The6.750% 01/01/20350.0%
Celebration Pointe Community Development District3.375% 05/01/20410.0%
Commonwealth of Puerto Rico0.000% 07/01/20240.0%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev0.000% 07/01/20290.0%
Village Community Development District No 106.000% 05/01/20440.0%
Bucks County Industrial Development Authority4.000% 07/01/20510.0%
Maryland Economic Development Corp5.000% 06/01/20490.0%
New York Liberty Development Corp2.300% 11/15/20340.0%
Arizona Industrial Development Authority5.500% 07/01/20520.0%
Northern Palm Beach County Improvement District5.000% 08/01/20370.0%
Arkansas Development Finance Authority3.125% 07/01/20360.0%
Capital Trust Agency Inc5.000% 12/15/20540.0%
City of New Haven CT5.500% 08/01/20350.0%
City of North Las Vegas NV4.625% 06/01/20490.0%
City of Sparks NV2.750% 06/15/20280.0%
Plaza at Noah's Ark Community Improvement District3.000% 05/01/20300.0%
Arborwood Community Development District6.900% 05/01/20360.0%
Downtown Doral South Community Development Distric4.750% 12/15/20380.0%
Michigan Public Educational Facilities Authority7.000% 10/01/20360.0%
California Municipal Finance Authority5.250% 08/15/20390.0%
City of Scranton PA5.000% 09/01/20280.0%
Texas Transportation Commission State Highway 2490.000% 08/01/20360.0%
City of North Las Vegas NV4.500% 06/01/20390.0%
City of North Las Vegas NV4.625% 06/01/20430.0%
Washington State Housing Finance Commission6.000% 01/01/20240.0%
Puerto Rico Public Finance Corp0.000% 08/01/20310.0%
Puerto Rico Sales Tax Financing Corp Sales Tax Rev4.536% 07/01/20530.0%
Texas Transportation Commission State Highway 2490.000% 08/01/20400.0%
Illinois Finance Authority4.000% 10/01/20340.0%
Plaza at Noah's Ark Community Improvement District3.125% 05/01/20350.0%
Tern Bay Community Development District0.000% 05/01/20370.0%
City of Valparaiso IN5.875% 01/01/20240.0%
Grandview Industrial Development Authority0.000% 12/01/20280.0%
Maryland Economic Development Corp5.000% 06/01/20440.0%
Texas Transportation Commission State Highway 2490.000% 08/01/20480.0%
Commonwealth of Puerto Rico4.000% 07/01/20330.0%
Florida Development Finance Corp6.375% 05/15/20370.0%
Magnolia West Community Development District5.350% 05/01/20370.0%
California County Tobacco Securitization Agency5.000% 06/01/20490.0%
California Statewide Communities Development Autho5.500% 07/01/20390.0%
City of Sparks NV2.500% 06/15/20240.0%
Commonwealth of Puerto Rico4.000% 07/01/20350.0%
Commonwealth of Puerto Rico0.000% 11/01/20510.0%
Middlesex County Improvement Authority0.000% 01/01/20370.0%
Puerto Rico Highway & Transportation Authority0.000% 07/01/20280.0%
California Statewide Communities Development Autho5.750% 07/01/20350.0%
Commonwealth of Puerto Rico4.000% 07/01/20370.0%
Arborwood Community Development District6.900% 05/01/20360.0%
California Statewide Communities Development Autho5.750% 07/01/20240.0%
Commonwealth of Puerto Rico0.000% 07/01/20330.0%
Middlesex County Improvement Authority0.000% 01/01/20250.0%
Public Finance Authority0.000% 12/01/20480.0%
Florida Development Finance Corp0.000% 05/15/20370.0%
USZ2 - Futures0.000% 01/01/19000.0%

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
$0.299
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 09/30/2022 $0.03403 $10.23
Daily Daily 08/31/2022 $0.03335 $10.96
Daily Daily 07/31/2022 $0.03370 $11.27
Daily Daily 06/30/2022 $0.03514 $10.90
Daily Daily 05/31/2022 $0.03337 $11.38
Daily Daily 04/30/2022 $0.03362 $11.28
Daily Daily 03/31/2022 $0.03272 $11.79
Daily Daily 02/28/2022 $0.03235 $12.35
Daily Daily 01/31/2022 $0.03163 $12.52

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

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

Fees & Expenses

Fees & Expenses

Expense Ratioas of 09/30/2022

0.65%

Expense ratio details, Click here.

Fund Documents

Fund Documents

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*"Barron's Best Fund Families of 2021", #7 ranking in the Tax Exempt 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 #4 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.

The High Income Municipal Bond Fund A share rankings within the Lipper High Yield Municipal Debt Funds Funds Average as of 12/31/2019 for the one-year time period was 6% (11/189); five-year, 17% (22/132); and 10-year, 34% (30/88). Source: Lipper Analytical Services. Lipper Funds Average ranking reflect all share classes within the category and are based on total return and do not reflect the effect of sales charges.

 

IMPORTANT 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.

 

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 invests substantially in high-yield securities which carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. High-yield municipal bonds are subject to greater risk of loss of income and principal than higher-rated securities, and are likely to be more sensitive to adverse economic changes or individual municipal developments than those of higher-rated securities. In addition, because the Fund is nondiversified, it will be more exposed to risks from a single adverse economic, political, or regulatory event than a diversified fund. A portion of the income derived from the Fund's portfolio may be subject to the alternative minimum tax. Any capital gains realized may be subject to taxation. Federal, state, and local taxes may apply. There is a risk that a bond issued as tax-exempt may be reclassified by the IRS as taxable, creating taxable rather than tax-exempt income. In addition, the Fund is subject to other types of risks, such as call, credit, liquidity, interest rate, and general market risks. The Fund may invest in Puerto Rico and other U.S. territories, commonwealths, and possessions, and may be affected by local, state, and regional factors. These may include, for example, economic or political developments, erosion of the tax base, and the possibility of credit problems. These factors can affect Fund performance.

 

 

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.

 

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 High Yield Municipal Bond Index is an unmanaged index consisting of noninvestment-grade, unrated or below Ba1 bonds. 

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.

The net expense ratio takes into account deductions for certain interest and related expenses from certain of the Fund's investments. Under accounting rules, the Fund recognized additional income in an amount that directly offsets these interest and related expenses. Therefore, the Fund's total returns and net asset value were not affected by such interest and related expenses.

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

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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