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High Yield Fund

Daily price w/o sales charge as of 01/24/2020

$7.45

arrowDown$0.02

YTD Returns w/o sales charge as of 01/24/2020

0.17%

Overall Morningstar Ratings

High Yield Bond
as of 12/31/2019

Morningstar rated the Lord Abbett High Yield Fund class C share 3, 3 and 4 stars among 616, 539 and 339 High Yield Bond Funds for the overall rating and the 3, 5 and 10 year periods ended 12/31/2019, respectively.

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

Click here to view all legal text including risk information

Summary

Summary

What is the High Yield Fund?

The Fund seeks to deliver current income and the opportunity for capital appreciation by investing primarily in high yield corporate bonds.

A HERITAGE OF HIGH YIELD

Brings a 40+ year history of high-yield investing, focused on fundamental, bottom-up credit research.

 

AN OPPORTUNISTIC APPROACH

Provides the flexibility to adjust to the market environment and take advantage of opportunities across the credit spectrum.

STRONG TRACK RECORD

Has offered a track record of strong performance versus peers in up and down markets, demonstrating the strength of this active approach as a core high-yield holding over a full market cycle.

Yield

Dividend Yield 1 as of 01/24/2020  

w/o sales charge 4.62%

30-Day Standardized Yield 2 as of 12/31/2019  

3.66%

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

Fund Basicsas of 12/31/2019

Total Net Assets
$7.20 B
Inception Date
12/31/1998
Dividend Frequency
Monthly
Fund Expense Ratio
1.55%
Number of Holdings
632
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

1.55%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 14.25% 14.25% 5.12% 5.36% 6.94% 6.13%
Lipper Category Avg. High Yield Funds 13.61% 13.61% 5.55% 5.09% 6.49% -
ICE BofAML U.S. High Yield Constrained Index 14.41% 14.41% 6.32% 6.14% 7.48% 6.85%

Fund Expense Ratio :

1.55%

Fund Expense Ratio :

1.55%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 14.25% 14.25% 5.12% 5.36% 6.94% 6.13%
Lipper Category Avg. High Yield Funds 13.61% 13.61% 5.55% 5.09% 6.49% -
ICE BofAML U.S. High Yield Constrained Index 14.41% 14.41% 6.32% 6.14% 7.48% 6.85%

Fund Expense Ratio :

1.55%

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.

RELATED CONTENT

Leveraged Credit: Asymmetric Risks in ‘BB’-Rated Debt
January 13, 2020

Elevated prices for ‘BB’-rated securities in both the high yield bond and leveraged loan markets suggest better value and upside in certain lower-rated credit.

Leveraged Credit: Asymmetric Risks in ‘BB’-Rated Debt
January 13, 2020

Elevated prices for ‘BB’-rated securities in both the high yield bond and leveraged loan markets suggest better value and upside in certain lower-rated credit.

Why Credit? Why Now?
November 18, 2019

Our experts review the case for allocating to credit-sensitive assets such as U.S. high yield and short-duration credit in today’s market.

Type Assets
High Yield Bonds
Bank Loans
Investment Grade Bonds
Equity
Convertibles
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 12/31/2019 View Portfolio

Rating Assets
BBB
BB
B
<B
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 average rating based on numeric values assigned to each rating. 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

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

19 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

29 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Managing Director & Portfolio Manager

12 Years of Industry Experience

Supported By 65 Investment Professionals with 17 Years Avg. Industry Experience

Contact a Representative

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

Performance

Performance

Dividend Yield 1 as of 01/24/2020  

w/o sales charge 4.62%

30-Day Standardized Yield 2 as of 12/31/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.66% 3.66%

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

Fund Expense Ratio :

1.55%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 14.25% 14.25% 5.12% 5.36% 6.94% 6.13%
Lipper Category Avg. High Yield Funds 13.61% 13.61% 5.55% 5.09% 6.49% -
ICE BofAML U.S. High Yield Constrained Index 14.41% 14.41% 6.32% 6.14% 7.48% 6.85%

Fund Expense Ratio :

1.55%

Fund Expense Ratio :

1.55%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 14.25% 14.25% 5.12% 5.36% 6.94% 6.13%
Lipper Category Avg. High Yield Funds 13.61% 13.61% 5.55% 5.09% 6.49% -
ICE BofAML U.S. High Yield Constrained Index 14.41% 14.41% 6.32% 6.14% 7.48% 6.85%

Fund Expense Ratio :

1.55%

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.

Year Fund Returns ICE BofAML U.S. High Yield Constrained Index
2019 14.25% 14.41%
2018 -5.68% -2.27%
2017 7.80% 7.48%
2016 15.15% 17.49%
2015 -2.92% -4.61%
2014 2.79% 2.51%
2013 8.98% 7.41%
2012 15.77% 15.55%
2011 2.41% 4.37%
2010 13.44% 15.07%
2009 49.15% -
2008 -23.93% -
2007 1.84% -
2006 9.16% -
2005 0.53% -
2004 9.73% -
2003 20.72% -
2002 -0.54% -
2001 4.59% -
2000 -3.52% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2020 - - - - 0.20%
2019 7.21% 3.63% 0.12% 2.71% 14.25%
2018 -1.24% -0.21% 2.38% -6.52% -5.68%
2017 2.66% 1.81% 2.29% 0.83% 7.80%
2016 2.00% 5.22% 5.31% 1.89% 15.15%
2015 2.90% 0.70% -4.41% -1.99% -2.92%
2014 2.76% 3.10% -1.88% -1.12% 2.79%
2013 3.81% -1.21% 2.48% 3.70% 8.98%
2012 6.48% 0.19% 4.90% 3.45% 15.77%
2011 3.64% 0.89% -7.23% 5.57% 2.41%
2010 4.74% -1.00% 6.14% 3.07% 13.44%
2009 5.78% 17.17% 13.72% 5.82% 49.15%
2008 -3.61% 1.83% -8.00% -15.78% -23.93%
2007 2.82% -0.04% 0.44% -1.34% 1.84%
2006 2.29% -0.15% 2.78% 3.99% 9.16%
2005 -1.92% 1.36% 0.72% 0.40% 0.53%
2004 0.96% -0.56% 4.20% 4.91% 9.73%
2003 3.78% 8.09% 2.33% 5.16% 20.72%
2002 1.46% -3.85% -3.80% 5.98% -0.54%
2001 4.97% -1.83% -4.24% 5.99% 4.59%
2000 -1.71% 0.73% 0.15% -2.71% -3.52%
1999 3.07% -0.36% -0.86% 3.89% 5.78%
1998 - - - - 0.80%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
High Yield Bonds
Bank Loans
Investment Grade Bonds
Equity
Convertibles
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 12/31/2019

Rating Assets
BBB
BB
B
<B
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 average rating based on numeric values assigned to each rating. 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 Positioning as of 12/31/2019

  • From a sector standpoint, we have increased the cyclical tilt in the portfolio, adding to sectors exposed to consumer spending (leisure, consumer goods) as well as the automotive and energy sectors.
  • The portfolio is overweight the energy sector, with a focus on shorter maturity bonds in the exploration & production (E&P) segment based on our view on positive fundamentals of select credits within the sector.
  • The telecom sector remains the portfolio’s largest underweight, as we believe that, in addition to secular issues faced by the wireline segment, idiosyncratic issues continue to plague major wireline companies.
  • In terms of credit ratings, we view the ‘BB’ tier as the most overpriced category in high yield, and are constructive on the lower-rated segment, notably ‘CCC’-rated credits, which we believe are trading at attractive valuations.
  • As of quarter-end, the portfolio had modest allocations to out-of-index sectors, such as bank loans, convertibles, investment grade bonds, and equities. We believe select exposures to these sectors offer attractive risk-reward opportunities, potential portfolio diversification benefits and avenues for liquidity.
  • We continue to believe that general economic fundamentals and stronger than expected earnings growth will favor the lower-rated segments of the high yield market. We expect default rates to remain subdued and believe that high yield spreads can grind tighter from current levels.

Portfolio Details as of 12/31/2019

Total Net Assets
$7.20 B
Number of Issues
632
Average Coupon
6.23%
Average Maturity
6.62 Years
Average Effective Duration
3.45 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
Sprint Capital Corp. 6.875% 11/15/2028 1.6%
DISH DBS Corp. 7.750% 07/01/2026 1.3%
CCO Holdings LLC / CCO Holdings Capital Corp. 5.125% 05/01/2027 0.7%
Tesla Motors, Inc. 5.300% 08/15/2025 0.7%
Numericable Group S.A. 7.375% 05/01/2026 0.7%
CCO Holdings LLC / CCO Holdings Capital Corp. 5.875% 05/01/2027 0.6%
Ally Financial, Inc. 8.000% 11/01/2031 0.6%
General Electric Co. 5.000% 12/31/2099 0.6%
TransDigm, Inc. 6.375% 06/15/2026 0.6%
Valeant Pharmaceuticals International, Inc. 8.500% 01/31/2027 0.5%
% of Total Assets 7.9%
Holding Coupon Maturity Assets
Sprint Capital Corp.6.875% 11/15/20281.9%
DISH DBS Corp.7.750% 07/01/20261.3%
Ally Financial, Inc.8.000% 11/01/20310.8%
CCO Holdings LLC / CCO Holdings Capital Corp.5.125% 05/01/20270.7%
Tesla Motors, Inc.5.300% 08/15/20250.7%
Numericable Group S.A.7.375% 05/01/20260.7%
CCO Holdings LLC / CCO Holdings Capital Corp.5.875% 05/01/20270.7%
General Electric Co.5.000% 12/31/20990.6%
TransDigm, Inc.6.375% 06/15/20260.6%
Valeant Pharmaceuticals International, Inc.8.500% 01/31/20270.6%
Tenet Healthcare Corp.5.125% 05/01/20250.6%
MEG Energy Corp.7.000% 03/31/20240.5%
HCA, Inc.5.500% 06/15/20470.5%
Calpine Corp.5.750% 01/15/20250.5%
Freeport-McMoRan, Inc.3.875% 03/15/20230.5%
Netflix, Inc.3.625% 05/15/20270.5%
CCO Holdings LLC / CCO Holdings Capital Corp.5.750% 02/15/20260.5%
Springleaf Finance Corp.6.125% 03/15/20240.5%
Intelsat Jackson Holdings SA5.500% 08/01/20230.5%
CSC Holdings LLC5.500% 04/15/20270.4%
Intesa Sanpaolo SpA5.710% 01/15/20260.4%
Numericable Group S.A.8.125% 02/01/20270.4%
Navient Corp.6.750% 06/25/20250.4%
United Rentals, Inc.4.875% 01/15/20280.4%
Sinclair Broadcast Group, Inc.5.125% 02/15/20270.4%
Cheniere Corpus Christi Holdings LLC5.875% 03/31/20250.4%
Pulte Group, Inc.5.000% 01/15/20270.4%
CF Industries, Inc.5.150% 03/15/20340.4%
Navient Corp.6.125% 03/25/20240.4%
RegionalCare Hospital Partners Holdings Inc / Life9.750% 12/01/20260.4%
CSC Holdings LLC10.875% 10/15/20250.4%
RBS Global & Rexnord Corp.4.875% 12/15/20250.4%
AMC Networks, Inc.4.750% 08/01/20250.4%
NRG Energy, Inc.5.750% 01/15/20280.4%
Ziggo BV5.500% 01/15/20270.4%
CIT Group, Inc.6.125% 03/09/20280.4%
Western Digital Corp.4.750% 02/15/20260.3%
DKT Finance ApS9.375% 06/17/20230.3%
Verscend Escrow Corp9.750% 08/15/20260.3%
MGM Resorts International4.625% 09/01/20260.3%
TransDigm, Inc.6.250% 03/15/20260.3%
Mclaren Finance PLC5.000% 08/01/20220.3%
Diamond Sports Group LLC / Diamond Sports Finance6.625% 08/15/20270.3%
Netflix, Inc.4.875% 04/15/20280.3%
Lennar Corp.4.750% 05/30/20250.3%
Jagged Peak Energy LLC5.875% 05/01/20260.3%
Nexstar Broadcasting, Inc.5.625% 07/15/20270.3%
IRB Holding Corp6.750% 02/15/20260.3%
ViaSat, Inc.5.625% 04/15/20270.3%
Magnolia Oil & Gas Operating LLC / Magnolia Oil &6.000% 08/01/20260.3%
Delphi Technologies PLC5.000% 10/01/20250.3%
Tenet Healthcare Corp.6.750% 06/15/20230.3%
Synovus Financial Corp.5.900% 02/07/20290.3%
Centene Corp.4.750% 01/15/20250.3%
T-Mobile USA, Inc.6.500% 01/15/20260.3%
Molina Healthcare, Inc.4.875% 06/15/20250.3%
Tenet Healthcare Corp.6.250% 02/01/20270.3%
Freeport-McMoRan, Inc.5.250% 09/01/20290.3%
Navient Corp.6.750% 06/15/20260.3%
SM Energy Co.6.625% 01/15/20270.3%
Connect Finco SARL / Connect US Finco LLC6.750% 10/01/20260.3%
Rio Oil Finance Trust Series 2018-18.200% 04/06/20280.3%
TRI Pointe Homes LLC5.250% 06/01/20270.3%
Ingevity Corp.4.500% 02/01/20260.3%
Transocean Poseidon Ltd6.875% 02/01/20270.3%
SM Energy Co.6.750% 09/15/20260.3%
Yingde Gases Investment Ltd6.250% 01/19/20230.3%
NextCure Inc0.000% -0.3%
VOC Escrow Ltd5.000% 02/15/20280.3%
Cheniere Energy Partners LP4.500% 10/01/20290.3%
Mueller Water Products, Inc.5.500% 06/15/20260.3%
Pacific Gas & Electric Co.6.050% 03/01/20340.3%
Century Communities, Inc.5.875% 07/15/20250.3%
Macquarie Bank Ltd./London6.125% 03/08/21670.3%
Radian Group, Inc.4.875% 03/15/20270.3%
Ashton Woods USA LLC / Ashton Woods Finance Co.6.750% 08/01/20250.3%
SRC Energy Inc6.250% 12/01/20250.2%
Ashland, Inc.6.875% 05/15/20430.2%
Ford Motor Credit Co. LLC4.542% 08/01/20260.2%
Panther BF Aggregator 2 LP / Panther Finance Co In8.500% 05/15/20270.2%
Summit Materials LLC5.125% 06/01/20250.2%
JBS USA LLC/JBS USA Finance, Inc.6.750% 02/15/20280.2%
New Gold, Inc.6.250% 11/15/20220.2%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.2%
WeWork Cos Inc7.875% 05/01/20250.2%
Popular, Inc.6.125% 09/14/20230.2%
Bacardi Ltd.5.300% 05/15/20480.2%
BBA US Holdings Inc4.000% 03/01/20280.2%
Patrick Industries, Inc.7.500% 10/15/20270.2%
PGT Escrow Issuer Inc6.750% 08/01/20260.2%
Yum! Brands, Inc.5.350% 11/01/20430.2%
Mattel, Inc.6.750% 12/31/20250.2%
Brink's Co/The4.625% 10/15/20270.2%
Apergy Corp6.375% 05/01/20260.2%
William Lyon Homes, Inc.6.625% 07/15/20270.2%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.2%
Virgin Media Secured Finance plc5.500% 05/15/20290.2%
Drive Chassis Holdco LLC10.260% 04/10/20260.2%
Oasis Petroleum, Inc.6.250% 05/01/20260.2%
Murphy Oil Corp.5.875% 12/01/20270.2%
HCA, Inc.8.360% 04/15/20240.2%
Altice Financing S.A.7.500% 05/15/20260.2%
Ball Corp.4.875% 03/15/20260.2%
Cemig Geracao e Transmissao SA9.250% 12/05/20240.2%
Netflix, Inc.4.625% 05/15/20290.2%
Micron Technology, Inc.5.327% 02/06/20290.2%
Coty, Inc.6.500% 04/15/20260.2%
Stena AB7.000% 02/01/20240.2%
Sensata Technologies BV5.625% 11/01/20240.2%
Arconic Inc6.750% 01/15/20280.2%
Sally Holdings LLC / Sally Capital, Inc.5.625% 12/01/20250.2%
Citgo Holding, Inc.9.250% 08/01/20240.2%
Fairstone Financial Inc7.875% 07/15/20240.2%
Core & Main Holdings LP8.625% 09/15/20240.2%
Parsley Energy LLC5.625% 10/15/20270.2%
Penn National Gaming, Inc.5.625% 01/15/20270.2%
Titan Acquisition Ltd / Titan Co-Borrower LLC7.750% 04/15/20260.2%
Tullow Oil plc7.000% 03/01/20250.2%
Enterprise Development Authority/The12.000% 07/15/20240.2%
Surgery Center Holdings, Inc.10.000% 04/15/20270.2%
Murphy Oil USA, Inc.4.750% 09/15/20290.2%
Hilton Domestic Operating Co, Inc.5.125% 05/01/20260.2%
Trinseo Materials Operating SCA5.375% 09/01/20250.2%
Callon Petroleum Co.6.125% 10/01/20240.2%
Valeant Pharmaceuticals International, Inc.5.875% 05/15/20230.2%
Everi Payments Inc7.500% 12/15/20250.2%
CCO Holdings LLC / CCO Holdings Capital Corp.4.750% 03/01/20300.2%
Starfruit Finco BV / Starfruit US Holdco LLC8.000% 10/01/20260.2%
Waste Pro USA Inc5.500% 02/15/20260.2%
Cheniere Corpus Christi Holdings LLC5.125% 06/30/20270.2%
Berry Petroleum Co.7.000% 02/15/20260.2%
LCPR Senior Secured Financing DAC6.750% 10/15/20270.2%
Match Group, Inc.5.000% 12/15/20270.2%
Rede D'or Finance Sarl4.950% 01/17/20280.2%
Coeur Mining, Inc.5.875% 06/01/20240.2%
Minerva Luxembourg SA5.875% 01/19/20280.2%
RingCentral, Inc.0.000% 03/15/20230.2%
PetSmart, Inc.5.770% 03/11/20220.2%
CSN Resources SA7.625% 04/17/20260.2%
BWAY Holding Co.7.250% 04/15/20250.2%
Toll Brothers Finance Corp.4.350% 02/15/20280.2%
DaVita, Inc.5.000% 05/01/20250.2%
Diamond Sports Group LLC / Diamond Sports Finance5.375% 08/15/20260.2%
BankUnited, Inc.4.875% 11/17/20250.2%
Thor Industries, Inc.5.563% 02/01/20260.2%
Shea Homes LP / Shea Homes Funding Corp.6.125% 04/01/20250.2%
Itron, Inc.5.000% 01/15/20260.2%
Williams Scotsman International Inc6.875% 08/15/20230.2%
LGI Homes, Inc.6.875% 07/15/20260.2%
Hub International Ltd.7.000% 05/01/20260.2%
Adient US LLC7.000% 05/15/20260.2%
NGPL Pipeco LLC4.875% 08/15/20270.2%
Twin River Worldwide Holdings Inc6.750% 06/01/20270.2%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.2%
Centennial Resource Production LLC5.375% 01/15/20260.2%
Sinclair Broadcast Group, Inc.5.875% 03/15/20260.2%
Churchill Downs, Inc.4.750% 01/15/20280.2%
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell o5.000% 06/01/20240.2%
Azul Investments LLP5.875% 10/26/20240.2%
Wyndham Worldwide Corp.5.750% 04/01/20270.2%
FAGE International SA/ FAGE USA Dairy Industry Inc5.625% 08/15/20260.2%
Newell Rubbermaid, Inc.5.625% 04/01/20360.2%
Baffinland Iron Mines Corp / Baffinland Iron Mines8.750% 07/15/20260.2%
Caesars Palace Las Vegas Trust 2017-VICI4.499% 10/15/20340.2%
EW Scripps Co.5.125% 05/15/20250.2%
Callon Petroleum Co.6.375% 07/01/20260.2%
Schaeffler Verwaltung Zwei GmbH4.750% 09/15/20260.2%
Toll Brothers Finance Corp.4.875% 03/15/20270.2%
Booz Allen Hamilton, Inc.5.125% 05/01/20250.2%
Wabtec Corp.3.450% 11/15/20260.2%
II-VI Inc5.208% 03/08/20260.2%
Horizon Pharma USA Inc5.500% 08/01/20270.2%
AHP Health Partners Inc9.750% 07/15/20260.2%
GCI LLC6.875% 04/15/20250.2%
Sirius XM Radio, Inc.5.000% 08/01/20270.2%
CMA CGM SA5.250% 01/15/20250.2%
TopBuild Corp.5.625% 05/01/20260.2%
Buena Vista Gaming Authority13.000% 04/01/20230.2%
Oceaneering International, Inc.6.000% 02/01/20280.2%
William Carter Co.5.625% 03/15/20270.2%
BEP Ulterra Holdings Inc.6.952% 11/26/20250.2%
Netflix, Inc.3.625% 06/15/20300.2%
NextEra Energy Operating Partners LP4.500% 09/15/20270.2%
Aston Martin Capital Holdings Ltd6.500% 04/15/20220.2%
Aegea Finance Sarl5.750% 10/10/20240.2%
Gray Television, Inc.7.000% 05/15/20270.2%
Lamb Weston Holdings, Inc.4.875% 11/01/20260.2%
BCPE Cycle Merger Sub II Inc10.625% 07/15/20270.2%
Belo Corp.7.250% 09/15/20270.2%
Beazer Homes USA, Inc.7.250% 10/15/20290.2%
HCA, Inc.5.875% 02/01/20290.2%
Diebold, Inc.8.500% 04/15/20240.2%
HAT Holdings I LLC / HAT Holdings II LLC5.250% 07/15/20240.2%
HCA, Inc.7.500% 12/15/20230.2%
Hadrian Merger Sub Inc8.500% 05/01/20260.2%
WPX Energy, Inc.5.250% 09/15/20240.2%
Geo Group, Inc.6.000% 04/15/20260.2%
QEP Resources, Inc.5.250% 05/01/20230.2%
Rumo Luxembourg Sarl5.875% 01/18/20250.2%
Intesa Sanpaolo SpA5.017% 06/26/20240.2%
Carrizo Oil & Gas, Inc.8.250% 07/15/20250.2%
TerraForm Power Operating LLC4.750% 01/15/20300.2%
Cheniere Energy Partners LP5.625% 10/01/20260.2%
Gray Television, Inc.5.875% 07/15/20260.2%
Alliant Holdings Intermediate LLC6.750% 10/15/20270.2%
Intertape Polymer Group Inc7.000% 10/15/20260.2%
American Axle & Manufacturing, Inc.6.500% 04/01/20270.2%
AMC Networks, Inc.5.000% 04/01/20240.2%
Parexel Intl Corp.4.452% 09/27/20240.2%
Muthoot Finance Ltd6.125% 10/31/20220.2%
Altice Luxembourg SA10.500% 05/15/20270.2%
Century Communities, Inc.6.750% 06/01/20270.2%
Provident Funding Associates L.P. / PFG Finance Co6.375% 06/15/20250.2%
Credit Suisse Group AG7.250% 09/12/21680.2%
Texas Capital Bank NA/Dallas TX5.250% 01/31/20260.2%
MEG Energy Corp.6.500% 01/15/20250.2%
Masonite International Corp.5.375% 02/01/20280.2%
Sirius XM Radio, Inc.4.625% 07/15/20240.2%
Ladder Capital Finance Holdings LLC/Ladder Capital5.250% 10/01/20250.2%
Marriott Ownership Resorts Inc / ILG LLC6.500% 09/15/20260.2%
IAA Inc5.500% 06/15/20270.2%
Koppers, Inc.6.000% 02/15/20250.2%
UAL Corp.4.875% 01/15/20250.2%
H&E Equipment Services, Inc.5.625% 09/01/20250.2%
DaVita, Inc.5.125% 07/15/20240.2%
Boyd Gaming Corp.6.000% 08/15/20260.2%
Pactiv Corp.7.950% 12/15/20250.2%
Wendy's International, Inc.7.000% 12/15/20250.2%
Yak Access LLC12.319% 07/10/20260.2%
BRF SA4.875% 01/24/20300.2%
CSI Compressco LP / CSI Compressco Finance Inc7.500% 04/01/20250.2%
Electricite de France SA5.625% 01/22/21640.2%
Repligen Corp.0.375% 07/15/20240.2%
eG Global Finance PLC8.500% 10/30/20250.2%
American Woodmark Corp.4.875% 03/15/20260.2%
Enviva Partners LP / Enviva Partners Finance Corp6.500% 01/15/20260.2%
Insulet Corp.1.375% 11/15/20240.2%
Huntington Bancshares, Inc.5.700% 12/31/20990.2%
Masonite International Corp.5.750% 09/15/20260.2%
Surgery Center Holdings, Inc.6.750% 07/01/20250.2%
Hess Corp.5.600% 02/15/20410.2%
Fair Isaac Corp.5.250% 05/15/20260.2%
VeriSign, Inc.5.250% 04/01/20250.2%
Hillman Group, Inc.6.375% 07/15/20220.2%
SPX FLOW, Inc.5.625% 08/15/20240.2%
Cardtronics Inc / Cardtronics USA Inc5.500% 05/01/20250.2%
Guidewire Software, Inc.1.250% 03/15/20250.2%
Springleaf Finance Corp.5.375% 11/15/20290.2%
Laredo Petroleum Holdings, Inc.5.625% 01/15/20220.2%
Dover Corp.0.000% -0.2%
j2 Cloud Services LLC / j2 Cloud Co-Obligor Inc6.000% 07/15/20250.2%
Scientific Games International, Inc.7.000% 05/15/20280.2%
Wynn Macau Ltd.5.500% 10/01/20270.2%
Clear Channel Outdoor Holding5.202% 08/09/20260.2%
Univision Communications Inc.4.452% 03/15/20240.2%
Compass Minerals International, Inc.6.750% 12/01/20270.2%
Granite Holdings US Acquisition Co11.000% 10/01/20270.2%
Cortes NP Acquisition Corp.9.250% 10/15/20240.2%
Mong Duong Finance Holdings BV5.125% 05/07/20290.2%
Indigo Natural Resources LLC6.875% 02/15/20260.2%
Centennial Resource Production LLC6.875% 04/01/20270.2%
Centene Corp.4.250% 12/15/20270.2%
Greenko Solar Mauritius Ltd5.950% 07/29/20260.2%
Genworth Holdings Inc4.900% 08/15/20230.2%
Ortho-Clinical Diagnostics Inc / Ortho-Clinical Di6.625% 05/15/20220.2%
Stevens Holding Co Inc6.125% 10/01/20260.2%
Wynn Las Vegas LLC5.500% 03/01/20250.2%
Energizer Holdings, Inc.6.375% 07/15/20260.1%
Exgen Renewables IV, LLC4.910% 11/28/20240.1%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.1%
Tenet Healthcare Corp.4.875% 01/01/20260.1%
Industrias Penoles SAB de CV5.650% 09/12/20490.1%
Con-way, Inc.6.700% 05/01/20340.1%
Forterra, Inc.0.000% 10/25/20230.1%
Weight Watchers International, Inc.8.625% 12/01/20250.1%
Sealed Air Corp.6.875% 07/15/20330.1%
Catalent Pharma Solutions Inc5.000% 07/15/20270.1%
Cheniere Energy Partners LP5.250% 10/01/20250.1%
DG Investment Intermediate Holdings 2, Inc. (aka Convergint Technologies Holdings, LLC)4.702% 02/03/20250.1%
JB Poindexter & Co., Inc.7.125% 04/15/20260.1%
Kansas City Southern0.000% -0.1%
Garrett LX I Sarl / Garrett Borrowing LLC5.125% 10/15/20260.1%
Virgin Media Secured Finance plc4.875% 01/15/20270.1%
Owens Corning4.300% 07/15/20470.1%
Rockpoint Gas Storage Canada Ltd7.000% 03/31/20230.1%
AES Corp.4.500% 03/15/20230.1%
Range Resources Corp.4.875% 05/15/20250.1%
W&T Offshore, Inc.9.750% 11/01/20230.1%
ProAmpac PG Borrower LLC5.389% 11/20/20230.1%
Helix Gen Funding, LLC5.452% 06/03/20240.1%
Buckeye Partners L.P.3.950% 12/01/20260.1%
Blue Cube Spinco, Inc.10.000% 10/15/20250.1%
Tesla Motors, Inc.2.000% 05/15/20240.1%
Barminco Finance Pty Ltd.6.625% 05/15/20220.1%
Bleriot US Bidco Inc6.613% 10/08/20260.1%
CDW Corp.5.500% 12/01/20240.1%
Warrior Met Coal Inc8.000% 11/01/20240.1%
Boyne USA Inc7.250% 05/01/20250.1%
Clear Channel Worldwide Holdings, Inc.9.250% 02/15/20240.1%
Summit Materials LLC6.500% 03/15/20270.1%
SPCM S.A.4.875% 09/15/20250.1%
Mirati Therapeutics, Inc.0.000% -0.1%
Centene Corp.4.625% 12/15/20290.1%
Forming Machining Indust6.104% 10/09/20250.1%
Lower Cadence Holdings L5.702% 05/08/20260.1%
Spectacle Gary Holdings, LLC11.000% 10/17/20240.1%
Millicom International Cellular S.A.6.625% 10/15/20260.1%
Qorvo, Inc.4.375% 10/15/20290.1%
Equinix, Inc.2.875% 02/01/20260.1%
Netflix, Inc.3.875% 11/15/20290.1%
Targa Resources Partners L.P.5.375% 02/01/20270.1%
Titan Sub LLC6.702% 09/19/20260.1%
MPT Operating Partnership L.P.5.000% 10/15/20270.1%
PDC Energy, Inc.6.125% 09/15/20240.1%
Pentair Finance SA4.500% 07/01/20290.1%
Compass Minerals International, Inc.4.875% 07/15/20240.1%
Cogent Communications Group, Inc.5.375% 03/01/20220.1%
Acrisure LLC / Acrisure Finance Inc8.125% 02/15/20240.1%
Murphy Oil USA, Inc.5.625% 05/01/20270.1%
Pulte Group, Inc.6.375% 05/15/20330.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.000% 12/01/20240.1%
BCD Acquisition, Inc.9.625% 09/15/20230.1%
Exterran Partners L.P. / EXLP Finance Corp.6.875% 04/01/20270.1%
Hecla Mining Co.6.875% 05/01/20210.1%
Eoc Group Inc4.952% 02/28/20250.1%
Altran Technologies9.064% 06/26/20260.1%
Dutch Lion BV11.250% 06/15/20200.1%
WPX Energy, Inc.5.750% 06/01/20260.1%
Installed Building Products, Inc.5.750% 02/01/20280.1%
Oceaneering International, Inc.4.650% 11/15/20240.1%
OCI NV6.625% 04/15/20230.1%
Inter Media and Communication SpA4.875% 12/31/20220.1%
Navicure Inc5.702% 09/18/20260.1%
Intelsat Jackson Holdings SA8.500% 10/15/20240.1%
TAP-Transportes Aereos Portugueses SGPS SA5.625% 12/02/20240.1%
Buckeye Partners L.P.4.125% 12/01/20270.1%
Merlin Entertainments PLC5.750% 06/15/20260.1%
NSG Holdings LLC / NSG Holdings, Inc.7.750% 12/15/20250.1%
Freedom Mortgage Corp8.250% 04/15/20250.1%
Hawaiian Airlines Class B Pass Through Certificate4.950% 01/15/20220.1%
Endeavor Energy Resources L.P.5.750% 01/30/20280.1%
Caesars Palace Las Vegas Trust 2017-VICI4.499% 10/15/20340.1%
Iridium Satellite LLC5.452% 10/17/20260.1%
Airxcel, Inc.6.202% 04/28/20250.1%
Targa Resources Partners L.P.5.875% 04/15/20260.1%
Frontera Generation Hold6.015% 05/02/20250.1%
Tempo Acquisition LLC / Tempo Acquisition Finance6.750% 06/01/20250.1%
LHC3 PLC4.125% 08/15/20240.1%
MHP Lux SA6.950% 04/03/20260.1%
Badger Meter, Inc.0.000% -0.1%
Marble II Pte Ltd.5.300% 06/20/20220.1%
HealthSouth Corp.4.500% 02/01/20280.1%
AES Corp.5.125% 09/01/20270.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.750% 10/01/20250.1%
Shake Shack, Inc.0.000% -0.1%
Louisiana-Pacific Corp.4.875% 09/15/20240.1%
United PF Holdings LLC6.202% 06/10/20260.1%
Covanta Holding Corp.6.000% 01/01/20270.1%
Kernel Holding SA8.750% 01/31/20220.1%
Centene Corp.5.375% 06/01/20260.1%
Ritchie Bros Auctioneers, Inc.5.375% 01/15/20250.1%
Project Boost Purchaser5.638% 05/22/20260.1%
Teekay Corp.9.250% 11/15/20220.1%
Central American Bottling Corp.5.750% 01/31/20270.1%
Wabash National Corp.5.500% 10/01/20250.1%
Neurocrine Biosciences, Inc.2.250% 05/15/20240.1%
Sprint Corp.7.625% 03/01/20260.1%
Topgolf International, Inc.7.768% 02/09/20260.1%
WPX Energy, Inc.5.250% 10/15/20270.1%
West Street Merger Sub Inc6.375% 09/01/20250.1%
SPX FLOW, Inc.5.875% 08/15/20260.1%
Five9, Inc.0.125% 05/01/20230.1%
Navitas Midstream Midland Basin, LLC6.202% 12/13/20240.1%
Amsted Industries, Inc.5.625% 07/01/20270.1%
Sonic Automotive, Inc.6.125% 03/15/20270.1%
Nine Energy Service Inc8.750% 11/01/20230.1%
Trade Me Group Ltd6.851% 05/01/20260.1%
Wyndham Hotels & Resorts Inc5.375% 04/15/20260.1%
NCI Building Systems, Inc.8.000% 04/15/20260.1%
New Enterprise Stone & Lime Co., Inc.6.250% 03/15/20260.1%
Holly Energy Partners L.P. / Holly Energy Finance6.000% 08/01/20240.1%
Autopistas del Sol SA/Costa Rica7.375% 12/30/20300.1%
Quicken Loans Inc5.250% 01/15/20280.1%
Carvana Co8.875% 10/01/20230.1%
Ahern Rentals, Inc.7.375% 05/15/20230.1%
Geopark Ltd.6.500% 09/21/20240.1%
Trimas Corp.4.875% 10/15/20250.1%
Exterran Energy Solutions L.P. / EES Finance Corp.8.125% 05/01/20250.1%
Delhi International Airport Pvt Ltd6.450% 06/04/20290.1%
Valeant Pharmaceuticals International, Inc.6.125% 04/15/20250.1%
Tenneco, Inc.5.000% 07/15/20260.1%
Flex Acquisition Co Inc7.875% 07/15/20260.1%
Revlon, Inc. Class A5.409% 09/07/20230.1%
Generac Holdings, Inc.0.000% -0.1%
NVIDIA Corp.0.000% -0.1%
Transocean Pontus Ltd6.125% 08/01/20250.1%
CCO Holdings LLC / CCO Holdings Capital Corp.5.000% 02/01/20280.1%
Chaparral Energy, Inc.8.750% 07/15/20230.1%
DocuSign Inc0.500% 09/15/20230.1%
Adient Global Holdings Ltd.4.875% 08/15/20260.1%
NVA Holdings Inc6.875% 04/01/20260.1%
Hughes Satellite Systems Corp.5.250% 08/01/20260.1%
Kestrel Bidco Inc5.266% 08/07/20260.1%
Boyd Gaming Corp.4.750% 12/01/20270.1%
Stars Group Holdings BV / Stars Group US Co-Borrow7.000% 07/15/20260.1%
Minotaur Acquisition Inc6.702% 02/27/20260.1%
Beyond Meat Inc0.000% -0.1%
Triumph Group, Inc.7.750% 08/15/20250.1%
MGM Growth Properties Operating Partnership LP / M5.625% 05/01/20240.1%
Latam Finance Ltd.7.000% 03/01/20260.1%
Novelis Corp.5.875% 09/30/20260.1%
Pinnacle Bidco PLC6.375% 02/15/20250.1%
Montreign Resort Casino10.159% 01/24/20230.1%
Press Ganey Inc5.202% 07/22/20260.1%
Lululemon Athletica, Inc.0.000% -0.1%
Elwood Energy LLC8.159% 07/05/20260.1%
SRS Distribution Inc8.250% 07/01/20260.1%
Apple, Inc.0.000% -0.1%
Live Nation Entertainment, Inc.5.625% 03/15/20260.1%
Radiate Holdco LLC / Radiate Finance Inc6.625% 02/15/20250.1%
Provincia de Cordoba7.450% 09/01/20240.1%
Go Daddy Operating Co LLC / GD Finance Co Inc5.250% 12/01/20270.1%
DPL, Inc.4.350% 04/15/20290.1%
MTS Systems Corp.5.750% 08/15/20270.1%
KGA Escrow LLC7.500% 08/15/20230.1%
Pharmaceutical Product Development LLC6.375% 08/01/20230.1%
Tronox Inc6.500% 04/15/20260.1%
Trivium Packaging Finance BV8.500% 08/15/20270.1%
Miller Homes Group Holdings PLC5.500% 10/15/20240.1%
VF Holding Corp8.952% 07/02/20260.1%
Terraform Global Operating LLC6.125% 03/01/20260.1%
U.S. Silica Company5.750% 05/01/20250.1%
Murphy Oil Corp.6.875% 08/15/20240.1%
Buenos Aires, Argentina7.500% 06/01/20270.1%
Range Resources Corp.5.000% 08/15/20220.1%
Great Lakes Dredge & Dock Corp.8.000% 05/15/20220.1%
Kuehg Corp10.354% 08/15/20250.1%
Oasis Petroleum, Inc.6.875% 03/15/20220.1%
Promontoria Holding 264 BV6.750% 08/15/20230.1%
Scientific Games International, Inc.7.250% 11/15/20290.1%
Univar Solutions USA Inc5.125% 12/01/20270.1%
Province of Santa Fe6.900% 11/01/20270.1%
AG Merger Sub II Inc10.750% 08/01/20270.1%
Telefonica Celular del Paraguay SA5.875% 04/15/20270.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.6.250% 11/01/20280.1%
LBC Tank Terminals Holding Netherlands BV6.875% 05/15/20230.1%
Azure Power Solar Energy Pvt Ltd5.650% 12/24/20240.1%
Hayward Acquisition Corp.5.202% 08/05/20240.1%
Illinois Tool Works, Inc.0.000% -0.1%
Viper Energy Partners LP5.375% 11/01/20270.1%
Buckeye Partners L.P.6.375% 01/22/20780.1%
CSC Holdings LLC5.750% 01/15/20300.1%
Sherwin-Williams Co.0.000% -0.1%
SolarEdge Technologies, Inc.0.000% -0.1%
YPF Energia Electrica SA10.000% 07/25/20260.1%
MGIC Investment Corp.5.750% 08/15/20230.1%
Berry Plastics Corp.4.875% 07/15/20260.1%
Springleaf Finance Corp.7.125% 03/15/20260.1%
Under Armour, Inc.3.250% 06/15/20260.1%
First Republic Bank/San Francisco CA0.000% -0.1%
Gateway Casinos & Entertainment Ltd8.250% 03/01/20240.1%
Asbury Automotive Group, Inc.6.000% 12/15/20240.1%
Crocs, Inc.0.000% -0.1%
Mattel, Inc.5.450% 11/01/20410.1%
GCP Applied Technologies, Inc.5.500% 04/15/20260.1%
Station Casinos LLC5.000% 10/01/20250.1%
Hilton Domestic Operating Co, Inc.4.875% 01/15/20300.1%
CSC Holdings LLC6.500% 02/01/20290.1%
Endeavor Energy Resources L.P.5.500% 01/30/20260.1%
Teradyne, Inc.1.250% 12/15/20230.1%
Provincia de Mendoza Argentina8.375% 05/19/20240.1%
KB Home4.800% 11/15/20290.1%
UFC Holdings LLC5.350% 04/26/20260.1%
Zebra Technologies Corp.0.000% -0.1%
Simmons Foods, Inc.7.750% 01/15/20240.1%
United Rentals, Inc.4.625% 10/15/20250.1%
Cloud Crane LLC10.125% 08/01/20240.1%
Post Holdings, Inc.5.500% 03/01/20250.1%
Transocean Proteus Ltd.6.250% 12/01/20240.1%
CPUK Finance Ltd4.875% 08/28/20250.1%
JD Power & Associates9.500% 06/09/20240.1%
Mattel, Inc.5.875% 12/15/20270.1%
Panther BF Aggregator 2 LP / Panther Finance Co In4.375% 05/15/20260.1%
Valeant Pharmaceuticals International, Inc.7.000% 03/15/20240.1%
Performance Food Group, Inc.5.500% 06/01/20240.1%
Univision Communications, Inc.5.125% 02/15/20250.1%
Lonestar II Generation H7.610% 04/20/20260.1%
Province of Neuquen7.500% 04/27/20250.1%
Hill-Rom Holdings, Inc.5.000% 02/15/20250.1%
Acrisure LLC / Acrisure Finance Inc7.000% 11/15/20250.1%
Rain CII Carbon LLC7.250% 04/01/20250.1%
Motion Bondco DAC6.625% 11/15/20270.1%
Carlsberg A/S0.000% -0.1%
Dometic Group AB3.000% 05/08/20260.1%
PCI Gaming Authority4.702% 05/15/20260.1%
Capitol Investment Merger Sub 2 LLC10.000% 08/01/20240.1%
Golar LNG Partners L.P.8.408% 05/18/20210.1%
Graftech Finance, Inc.5.202% 01/31/20250.1%
Inmarsat Finance plc6.500% 10/01/20240.1%
Sugarhouse HSP Gaming Prop Mezz LP/Fin Corp.5.875% 05/15/20250.1%
Acadia Healthcare Co., Inc.5.625% 02/15/20230.1%
AES Gener SA6.350% 10/07/20790.1%
BBA US Holdings Inc5.375% 05/01/20260.1%
Owens Corning4.400% 01/30/20480.1%
Norbord, Inc.6.250% 04/15/20230.1%
Griffon Corp.5.250% 03/01/20220.1%
QEP Resources, Inc.5.625% 03/01/20260.1%
Learning Care Group (US) No. 2 Inc.5.336% 03/13/20250.1%
AerCap Ireland Capital Ltd.3.650% 07/21/20270.1%
Cliffs Natural Resources, Inc.5.750% 03/01/20250.1%
Mohegan Tribal Gaming Authority7.875% 10/15/20240.1%
PetSmart, Inc.5.875% 06/01/20250.1%
Service Corp. International5.125% 06/01/20290.1%
Air Medical Group Holdings, Inc.6.375% 05/15/20230.1%
Ukraine Government7.375% 09/25/20320.1%
Netflix, Inc.5.875% 11/15/20280.1%
Allison Transmission, Inc.5.000% 10/01/20240.1%
TGP Holdings III LLC10.202% 09/20/20250.1%
Navistar International Corp.6.625% 11/01/20250.1%
Wyndham Worldwide Corp.6.350% 10/01/20250.1%
AerCap Ireland Capital Ltd.4.450% 04/03/20260.1%
Winnebago Industries, Inc.1.500% 04/01/20250.1%
Transportadora de Gas del Sur S.A.6.750% 05/02/20250.1%
CIT Group, Inc.5.250% 03/07/20250.1%
Fresh Market, Inc.9.750% 05/01/20230.1%
Cheniere Corpus Christi Holdings LLC7.000% 06/30/20240.1%
Algeco Scotsman Global Finance plc8.000% 02/15/20230.1%
Southwestern Energy Co.7.750% 10/01/20270.1%
Southwestern Energy Co.6.200% 01/23/20250.1%
CONSOL Energy Inc11.000% 11/15/20250.1%
Flynn Restaurant Group5.202% 06/27/20250.1%
Bill Barrett Corp.7.000% 10/15/20220.1%
Longview Power7.000% 03/25/20210.1%
Clearway Energy Operating LLC5.000% 09/15/20260.1%
PG&E Corp5.029% 12/31/20200.1%
Gibson Brands, Inc0.000% -0.1%
Flynn Restaurant Group8.758% 06/29/20260.1%
Jacobs Entertainment, Inc.7.875% 02/01/20240.1%
Doncasters US Finance LLC (Doncasters US LLC)5.604% 04/09/20200.1%
Transocean Phoenix 2 Ltd.7.750% 10/15/20240.1%
Arcor6.000% 07/06/20230.1%
Britax Childcare4.500% 10/15/20200.1%
GW B-CR Security Corp9.500% 11/01/20270.1%
Targa Resources Partners L.P.4.250% 11/15/20230.1%
Service Corp. International4.625% 12/15/20270.1%
Numericable Group S.A.3.375% 01/15/20280.1%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.1%
Performance Food Group, Inc.5.500% 10/15/20270.1%
Lamb Weston Holdings, Inc.4.625% 11/01/20240.1%
NRG Energy, Inc.5.250% 06/15/20290.1%
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell o4.750% 06/01/20270.1%
Gray Television, Inc.5.125% 10/15/20240.1%
PTTEP Treasury Center Co Ltd3.903% 12/06/20590.1%
Jonah Energy LLC / Jonah Energy Finance Corp7.250% 10/15/20250.1%
Joseph T Ryerson & Son, Inc.11.000% 05/15/20220.1%
Powerteam Services LLC9.354% 03/06/20260.1%
Weekley Homes LLC / Weekley Finance Corp.6.000% 02/01/20230.1%
Targa Resources Partners L.P.6.500% 07/15/20270.1%
Claire's Stores, Inc.0.000% -0.1%
Ashtead Capital, Inc.5.250% 08/01/20260.1%
Sirius XM Radio, Inc.5.375% 07/15/20260.1%
Commercial Barge Line10.676% 11/12/20200.1%
Clearway Energy Operating LLC5.750% 10/15/20250.1%
HCA, Inc.7.690% 06/15/20250.1%
North American Lifting Holdings, Inc. (aka TNT Crane & Rigging, Inc)11.104% 11/26/20210.1%
TerraForm Power Operating LLC5.000% 01/31/20280.1%
Trivium Packaging Finance BV3.750% 08/15/20260.1%
Valeant Pharmaceuticals International, Inc.5.500% 03/01/20230.1%
Madison Park Funding XXVII Ltd4.566% 04/20/20300.1%
CF Industries, Inc.4.950% 06/01/20430.1%
Panda Temple Power, LLC9.800% 02/07/20230.1%
Moxie Patriot LLC7.392% 12/19/20200.1%
Octagon Investment Partners 44 Ltd8.756% 07/20/20320.1%
Cliffs Natural Resources, Inc.5.875% 06/01/20270.1%
Regatta XVI Funding Ltd0.000% 01/15/20330.0%
Mclaren Finance PLC5.750% 08/01/20220.0%
Triumph Group, Inc.6.250% 09/15/20240.0%
Medallion Midland4.952% 10/31/20240.0%
Ancestry.com Inc.6.168% 08/27/20260.0%
Trivium Packaging Finance BV5.500% 08/15/20260.0%
Claire's Stores, Inc.14.000% 09/05/20380.0%
Optiv Sec, Inc.5.204% 02/01/20240.0%
Panda Power Funds6.750% 12/19/20200.0%
American Energy-Permian Basin LLC12.000% 10/01/20240.0%
PG&E Corp5.029% 12/31/20200.0%
Southern Graphics Inc9.427% 11/22/20230.0%
UC Holdings0.000% -0.0%
Extraction Oil & Gas Inc7.375% 05/15/20240.0%
HCA, Inc.5.875% 02/15/20260.0%
CIFC Funding 2013-III-R Ltd4.836% 04/24/20310.0%
Claire's Stores, Inc.0.000% 10/12/20380.0%
Bleriot US Bidco Inc0.000% 10/08/20260.0%
Eoc Group Inc3.439% 02/26/20260.0%
Arcor6.000% 07/06/20230.0%
United PF Holdings LLC2.858% 06/10/20260.0%
Lonestar II Generation H7.610% 04/20/20260.0%
Spectacle Gary Holding11.000% 11/07/20250.0%
FGI Operating Company, LLC0.000% 05/15/20220.0%
Credit Default Swap1.000% 06/20/20200.0%
FX USD/EUR 12/190.000% 12/09/20190.0%
Chaparral Energy, Inc.0.000% -0.0%
Jamestown CLO VII Ltd.4.540% 07/25/20270.0%
Tonon Luxembourg S.A.6.500% 10/31/20240.0%
FX USD/EUR 12/190.000% 12/09/20190.0%
Morgan Stanley Capital I Trust5.510% 07/15/20560.0%
Remington Outdoor Co. Inc.0.000% -0.0%
Credit Index Swap5.000% 12/20/20240.0%
Penson Technologies LLC0.000% -0.0%
FX USD/EUR 12/190.000% 12/09/20190.0%
Afren plc11.500% 02/01/20220.0%
Fairway Group Holdings Corp.0.000% 02/24/20240.0%
Fairway Group Holdings Corp.0.000% 11/24/20230.0%
FX USD/EUR 12/190.000% 12/09/20190.0%
Afren plc10.250% 04/08/20220.0%
Templar Energy LLC0.000% -0.0%
Afren plc6.625% 12/09/20200.0%
FX USD/EUR 02/200.000% 02/14/20200.0%
FX USD/EUR 02/200.000% 02/14/20200.0%
FX USD/EUR 12/190.000% 12/09/20190.0%
FX USD/EUR 12/190.000% 12/09/20190.0%
Remington Outdoor Co. Inc.0.000% -0.0%
Templar Energy LLC0.000% -0.0%
EURO-BOBL FUT DEC190.000% 12/10/20190.0%
EURO-BUND FUTURE DEC190.000% 12/10/20190.0%
Fairway Group Acquisition Company0.000% -0.0%
FX EUR/USD 12/190.000% 12/09/20190.0%
FX EUR/USD 12/190.000% 12/09/20190.0%
FX USD/DKK 12/190.000% 12/13/20190.0%
FX USD/GBP 12/190.000% 12/05/20190.0%
General Motors Co.7.200% 01/15/20490.0%
US 10YR ULTRA FUT MAR200.000% 03/31/20200.0%
US 5YR NOTE (CBT) MAR200.000% 04/03/20200.0%
US LONG BOND(CBT) MAR200.000% 03/31/20200.0%
US ULTRA BOND CBT MAR200.000% 03/31/20200.0%
Washington Mutual, Inc.6.875% 06/15/20110.0%
Mirabela Nickel Ltd.1.000% 09/16/20440.0%
FX USD/GBP 12/190.000% 12/05/20190.0%
US 10YR NOTE (CBT)MAR200.000% 03/31/20200.0%
FX USD/GBP 12/190.000% 12/05/20190.0%
US 2YR NOTE (CBT) MAR200.000% 04/03/20200.0%
FX USD/EUR 12/190.000% 12/09/20190.0%
FX EUR/USD 12/190.000% 12/09/20190.0%
FX USD/GBP 12/190.000% 12/05/20190.0%
FX USD/GBP 12/190.000% 12/05/20190.0%

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.

Sector Allocationas of 12/31/2019

Sector Weighting Fund Change from Previous Quarter
Sector Weighting Fund Change from Previous Quarter
Basic Industry arrowDown0.6%
Media arrowDown0.1%
Insurance arrowDown0.1%
Financial Services arrowUp1.4%
Capital Goods arrowDown0.2%
Retail arrowUp0.4%
Services arrowDown0.9%
Technology & Electronics arrowUp0.2%
Real Estate arrowUp0.2%
Healthcare arrowUp0.1%
Telecommunications arrowDown1.0%
Automotive arrowUp0.9%
Utility arrowDown0.5%
Banking arrowDown0.4%
Energy arrowDown0.7%
Other arrowUp0.1%
Consumer Goods arrowUp0.3%
Leisure arrowUp0.8%
Transportation 0.0%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 01/24/2020
$0
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 12/31/2019 $0.02867 $7.46
Daily Daily 11/30/2019 $0.02903 $7.33
Daily Daily 10/31/2019 $0.02985 $7.32
Daily Daily 09/30/2019 $0.02975 $7.35
Daily Daily 08/31/2019 $0.02930 $7.38
Daily Daily 07/31/2019 $0.02983 $7.45
Daily Daily 06/30/2019 $0.03112 $7.43
Daily Daily 05/31/2019 $0.03041 $7.25
Daily Daily 04/30/2019 $0.03047 $7.36
Daily Daily 03/31/2019 $0.03050 $7.26
Daily Daily 02/28/2019 $0.03147 $7.23
Daily Daily 01/31/2019 $0.03190 $7.15

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 01/31/2020
Daily Daily 02/29/2020
Daily Daily 03/31/2020
Daily Daily 04/30/2020
Daily Daily 05/31/2020
Daily Daily 06/30/2020
Daily Daily 07/31/2020
Daily Daily 08/31/2020
Daily Daily 09/30/2020
Daily Daily 10/31/2020
Daily Daily 11/30/2020
Daily Daily 12/31/2020

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/18/2014 12/19/2014 $0.0899 $0.0792 $0.1691 $7.40
*

Taxed as ordinary income

Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor. 

Upcoming Capital Gain Distribution

Record Date Ex-Dividend Date
12/17/2020 12/18/2020

Fees & Expenses

Fees & Expenses

Expense Ratioas of 12/31/2019

1.55%

Fund Documents

Fund Documents

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Summary Prospectus
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Annual Report
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Publish Date:11/03/2015
Fact Sheet
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Commentary
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Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.      

                    

1

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

 

2

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

 

 

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 Fund invests primarily in high-yield, lower-rated securities, sometimes called junk bonds. 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.

 

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 C - Class C shares are subject to ongoing 12b-1 service and distribution fees as well as a maximum CDSC of 1 percent if you redeem your shares before the first anniversary of your original purchase.

Class C shares are only offered to certain eligible investors.  For additional information, see the Fund’s current prospectus.

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

 

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

 

Returns shown at less than a year reflect aggregate total returns.

 

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.   

 

The ICE BofA Merrill Lynch U.S. High Yield Constrained Index is a capitalization-weighted index of all US dollar denominated below investment grade corporate debt publicly issued in the US domestic market. Qualifying securities must have a below investment grade rating (based on an average of Moody’s, S&P and Fitch), at least 18 months to final maturity at the time of issuance, at least one year remaining term to final maturity as of the rebalancing date, a fixed coupon schedule and a minimum amount outstanding of $100 million. The index caps individual issuer at 2%. Index constituents are capitalization-weighted, based on their current amount outstanding, provided the total allocation to an individual issuer does not exceed 2%. Issuers that exceed the limit are reduced to 2% and the face value of each of their bonds is adjusted on a pro-rata basis. The face values of bonds of all other issuers that fall below the 2% cap are increased on a pro-rata basis. In the event there are fewer than 50 issuers in the Index, each is equally weighted and the face values of their respective bonds are increased or decreased on a pro-rata basis.

Source: ICE Data Indices, LLC. 

Source ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE BofAML INDICES AND RELATED DATA ON AN "AS IS" BASIS, MAKES NO WARRANTIES REGARDING SAME, DOES NOT GUARANTEE THE SUITABILITY, QUALITY, ACCURACY, TIMELINESS, AND/OR COMPLETENESS OF THE ICE BofAML INDICES OR ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM, ASSUMES NO LIABILITY IN CONNECTION WITH THE USE OF THE FOREGOING, AND DOES NOT SPONSOR, ENDORSE, OR RECOMMEND LORD ABBETT, OR ANY OF ITS PRODUCTS OR SERVICES.

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.

 

The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with a fund's three-, five-, and 10-year (as applicable) Morningstar RatingTM metrics. © Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

 

Morningstar proprietary ratings reflect historical risk-adjusted performance. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Load-waived ratings do not include any front-end sales charges (which are only available for certain defined contribution plans and certain mutual fund advisory programs) and should only be considered by investors who are not subject to sales loads. Not all funds with a load-waived rating may waive their front-end load. An investor should check with their advisor to determine if they are eligible to purchase the load-waived Class A share. The top 10% of the funds in an investment category receive 5 stars, 22.5% receive 4 stars, 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages). The Overall Morningstar rating is a weighted average of funds' three-, five-, and 10-year (as applicable) ratings. Past performance is no guarantee of future results. Morningstar Rating is for the Class A share only; other classes may have different performance characteristics.

 

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

 

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

 

 

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

 

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

 

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

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

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