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High Yield Fund

Daily price w/o sales charge as of 06/26/2019

$7.41

arrowDown$0.01

YTD Returns w/o sales charge as of 06/26/2019

10.75%

Overall Morningstar Ratings

High Yield Bond
as of 05/31/2019

Morningstar rated the Lord Abbett High Yield Fund class C share 3, 4 and 4 stars among 608, 525 and 338 High Yield Bond Funds for the overall rating and the 3, 5 and 10 year periods ended 5/31/2019, 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 06/26/2019  

w/o sales charge 4.93%

30-Day Standardized Yield 2 as of 05/31/2019  

4.69%

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

Fund Basicsas of 05/31/2019

Total Net Assets
$6.75 B
Inception Date
12/31/1998
Dividend Frequency
Monthly
Fund Expense Ratio
1.55%
Number of Holdings
666
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 7.96% 3.34% 5.97% 3.85% 8.66% 6.02%
Lipper Category Avg. High Yield Funds 7.06% 4.46% 5.98% 3.31% 8.01% -
ICE BofAML U.S. High Yield Constrained Index 7.52% 5.37% 7.06% 4.38% 9.29% 6.73%
w/ sales charge 6.96% 3.34% 5.97% 3.85% 8.66% 6.02%

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 7.21% 2.40% 7.17% 4.04% 9.98% 6.03%
Lipper Category Avg. High Yield Funds 6.56% 4.39% 6.93% 3.43% 9.56% -
ICE BofAML U.S. High Yield Constrained Index 7.40% 5.93% 8.68% 4.70% 11.21% 6.78%
w/ sales charge 6.21% 2.40% 7.17% 4.04% 9.98% 6.03%

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 of future results.

RELATED CONTENT

U.S. High Yield: Lessons from the Recent Volatility
February 11, 2019

Rather than trying to anticipate short-term price moves, we believe investors would be better served by focusing on the asset class’s long-term history of risk-adjusted returns.

High Yield: Holding Up in 2018
August 6, 2018

So far in 2018, high yield has outperformed investment grade, with lower-rated issues leading the way.

High Yield: Active or Passive? Four Points to Consider
March 26, 2018

Here, we offer a closer look at the key attributes—and relative performance—of the two strategies.

Type Assets
High Yield Bonds
Bank Loans
Equity
Investment Grade Bonds
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 05/31/2019 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

18 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

28 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Managing Director & Portfolio Manager

11 Years of Industry Experience

Supported By 68 Investment Professionals with 15 Years Avg. Industry Experience

Contact a Representative

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

Performance

Performance

Dividend Yield 1 as of 06/26/2019  

w/o sales charge 4.93%

30-Day Standardized Yield 2 as of 05/31/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 4.69% 4.69%

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 7.96% 3.34% 5.97% 3.85% 8.66% 6.02%
Lipper Category Avg. High Yield Funds 7.06% 4.46% 5.98% 3.31% 8.01% -
ICE BofAML U.S. High Yield Constrained Index 7.52% 5.37% 7.06% 4.38% 9.29% 6.73%
w/ sales charge 6.96% 3.34% 5.97% 3.85% 8.66% 6.02%

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 7.21% 2.40% 7.17% 4.04% 9.98% 6.03%
Lipper Category Avg. High Yield Funds 6.56% 4.39% 6.93% 3.43% 9.56% -
ICE BofAML U.S. High Yield Constrained Index 7.40% 5.93% 8.68% 4.70% 11.21% 6.78%
w/ sales charge 6.21% 2.40% 7.17% 4.04% 9.98% 6.03%

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 of future results.

Year Fund Returns ICE BofAML U.S. High Yield Constrained Index
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% 58.10%
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% -
1999 5.78% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 7.21% - - - 10.75%
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
Equity
Investment Grade Bonds
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 05/31/2019

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 3/31/2019

  • High yield bonds posted positive returns over the quarter, as the U.S. Federal Reserve (Fed) pause, progress on trade, and anticipation of a lengthier credit cycle has boosted investor sentiment, along with sharp equity and oil price gains. The segment outperformed investment grade issues, represented by the Bloomberg Barclays U.S. Aggregate Bond Index.
  • The portfolio is overweight the basic industry sector, specifically the building products, materials, chemicals, and metals & mining industries, aligning with our pro-cyclical thesis.
  • The portfolio is overweight the health care sector. We believe this sector is attractive due to improving volumes in the hospitals segment and improved overall sentiment in the industry.
  • The portfolio is underweight the energy sector, specifically in the services and midstream segments, as we believe that increased U.S. production will be a headwind to energy prices going forward.
  • 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.
  • 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 strong expected earnings growth will favor the lower-rated segments of the high yield market. We expect default rates to remain subdued and believe that high yield spreads can grind tighter from current levels.

Portfolio Details as of 05/31/2019

Total Net Assets
$6.75 B
Number of Issues
666
Average Coupon
6.41%
Average Maturity
6.66 Years
Average Effective Duration
4.25 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 1.9%
Ally Financial, Inc. 8.000% 11/01/2031 0.8%
DISH DBS Corp. 7.750% 07/01/2026 0.8%
T-Mobile USA, Inc. 6.500% 01/15/2026 0.7%
CCO Holdings LLC / CCO Holdings Capital Corp. 5.875% 05/01/2027 0.7%
Tenet Healthcare Corp. 5.125% 05/01/2025 0.6%
Numericable Group S.A. 7.375% 05/01/2026 0.6%
Tesla Motors, Inc. 5.300% 08/15/2025 0.6%
TransDigm, Inc. 6.375% 06/15/2026 0.6%
Calpine Corp. 5.750% 01/15/2025 0.5%
% of Total Assets 7.8%

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

Holding Coupon Maturity Assets
Sprint Capital Corp.6.875% 11/15/20281.7%
Ally Financial, Inc.8.000% 11/01/20310.8%
CCO Holdings LLC / CCO Holdings Capital Corp.5.875% 05/01/20270.8%
T-Mobile USA, Inc.6.500% 01/15/20260.7%
Tenet Healthcare Corp.5.125% 05/01/20250.6%
Numericable Group S.A.7.375% 05/01/20260.6%
DISH DBS Corp.7.750% 07/01/20260.6%
Freeport-McMoRan, Inc.3.875% 03/15/20230.6%
TransDigm, Inc.6.375% 06/15/20260.6%
Tesla Motors, Inc.5.300% 08/15/20250.6%
Valeant Pharmaceuticals International, Inc.5.875% 05/15/20230.5%
Calpine Corp.5.750% 01/15/20250.5%
Netflix, Inc.3.625% 05/15/20270.5%
Intelsat Jackson Holdings SA5.500% 08/01/20230.5%
General Electric Co.5.000% 12/31/20990.5%
CCO Holdings LLC / CCO Holdings Capital Corp.5.750% 02/15/20260.5%
HCA, Inc.5.500% 06/15/20470.5%
Springleaf Finance Corp.6.125% 03/15/20240.5%
Albertsons Cos LLC / Safeway, Inc. / New Albertson6.625% 06/15/20240.5%
RegionalCare Hospital Partners Holdings Inc / Life9.750% 12/01/20260.5%
CSC Holdings LLC5.500% 04/15/20270.4%
Bombardier, Inc.7.500% 03/15/20250.4%
United Rentals, Inc.4.875% 01/15/20280.4%
Netflix, Inc.5.875% 02/15/20250.4%
MEG Energy Corp.7.000% 03/31/20240.4%
Valeant Pharmaceuticals International, Inc.8.500% 01/31/20270.4%
California Resources Corp.8.000% 12/15/20220.4%
CSC Holdings LLC10.875% 10/15/20250.4%
Cheniere Corpus Christi Holdings LLC5.875% 03/31/20250.4%
Altice Luxembourg SA7.750% 05/15/20220.4%
NRG Energy, Inc.5.750% 01/15/20280.4%
Verscend Escrow Corp9.750% 08/15/20260.4%
DKT Finance ApS9.375% 06/17/20230.4%
Navient Corp.6.125% 03/25/20240.3%
CF Industries, Inc.5.150% 03/15/20340.3%
Cheniere Corpus Christi Holdings LLC5.125% 06/30/20270.3%
Sirius XM Radio, Inc.5.000% 08/01/20270.3%
Numericable Group S.A.8.125% 02/01/20270.3%
TransDigm, Inc.6.250% 03/15/20260.3%
Navient Corp.6.750% 06/25/20250.3%
MGM Resorts International4.625% 09/01/20260.3%
Western Digital Corp.4.750% 02/15/20260.3%
Chesapeake Energy Corp.7.000% 10/01/20240.3%
Centene Corp.4.750% 01/15/20250.3%
Diamondback Energy, Inc.4.750% 11/01/20240.3%
RBS Global & Rexnord Corp.4.875% 12/15/20250.3%
AMC Networks, Inc.4.750% 08/01/20250.3%
Match Group, Inc.5.000% 12/15/20270.3%
Cliffs Natural Resources, Inc.5.750% 03/01/20250.3%
Molina Healthcare, Inc.4.875% 06/15/20250.3%
Ziggo BV5.500% 01/15/20270.3%
CSL Capital, LLC8.250% 10/15/20230.3%
Tenet Healthcare Corp.6.750% 06/15/20230.3%
CCO Holdings LLC / CCO Holdings Capital Corp.5.125% 05/01/20270.3%
Sinclair Broadcast Group, Inc.5.125% 02/15/20270.3%
Tenet Healthcare Corp.6.250% 02/01/20270.3%
Century Communities, Inc.5.875% 07/15/20250.3%
Drive Chassis Holdco LLC10.834% 04/10/20260.3%
Community Health Systems, Inc.8.000% 11/15/20190.3%
WellCare Health Plans, Inc.5.250% 04/01/20250.3%
Ingevity Corp.4.500% 02/01/20260.3%
Yingde Gases Investment Ltd6.250% 01/19/20230.3%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.3%
CIT Group, Inc.6.125% 03/09/20280.3%
Magnolia Oil & Gas Operating LLC / Magnolia Oil &6.000% 08/01/20260.3%
Mueller Water Products, Inc.5.500% 06/15/20260.3%
VOC Escrow Ltd5.000% 02/15/20280.2%
MSCI, Inc.5.750% 08/15/20250.2%
CSC Holdings LLC6.500% 02/01/20290.2%
Pulte Group, Inc.5.000% 01/15/20270.2%
Rio Oil Finance Trust Series 2018-18.200% 04/06/20280.2%
Ashland, Inc.6.875% 05/15/20430.2%
Mclaren Finance PLC5.000% 08/01/20220.2%
IRB Holding Corp6.750% 02/15/20260.2%
CONSOL Energy Inc11.000% 11/15/20250.2%
GCI LLC6.875% 04/15/20250.2%
Ortho-Clinical Diagnostics Inc / Ortho-Clinical Di6.625% 05/15/20220.2%
Summit Materials LLC5.125% 06/01/20250.2%
Popular, Inc.6.125% 09/14/20230.2%
Beacon Roofing Supply, Inc.4.875% 11/01/20250.2%
Churchill Downs, Inc.4.750% 01/15/20280.2%
CNO Financial Group, Inc.5.250% 05/30/20250.2%
Citgo Holding, Inc.10.750% 02/15/20200.2%
Synovus Financial Corp.5.900% 02/07/20290.2%
Netflix, Inc.4.625% 05/15/20290.2%
Centene Corp.5.375% 06/01/20260.2%
Mattel, Inc.6.750% 12/31/20250.2%
DaVita, Inc.5.000% 05/01/20250.2%
Alcoa Nederland Holding BV6.750% 09/30/20240.2%
MPT Operating Partnership L.P.5.000% 10/15/20270.2%
Jagged Peak Energy LLC5.875% 05/01/20260.2%
Lennar Corp.4.750% 05/30/20250.2%
PetSmart, Inc.5.875% 06/01/20250.2%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.2%
Baffinland Iron Mines Corp / Baffinland Iron Mines8.750% 07/15/20260.2%
HCA, Inc.8.360% 04/15/20240.2%
Sensata Technologies BV5.625% 11/01/20240.2%
BEP Ulterra Holdings Inc.7.733% 11/26/20250.2%
Wabtec Corp.3.450% 11/15/20260.2%
Nine Energy Service Inc8.750% 11/01/20230.2%
Altice Financing S.A.7.500% 05/15/20260.2%
Hilton Domestic Operating Co, Inc.5.125% 05/01/20260.2%
Ball Corp.4.875% 03/15/20260.2%
Cemig Geracao e Transmissao SA9.250% 12/05/20240.2%
Equinix, Inc.2.875% 02/01/20260.2%
JBS USA LLC/JBS USA Finance, Inc.6.750% 02/15/20280.2%
SM Energy Co.6.625% 01/15/20270.2%
Conn's, Inc.7.250% 07/15/20220.2%
Denbury Resources, Inc.5.500% 05/01/20220.2%
Hub International Ltd.7.000% 05/01/20260.2%
Precision Drilling Corp.5.250% 11/15/20240.2%
Noble Holding International Ltd.7.875% 02/01/20260.2%
Everi Payments Inc7.500% 12/15/20250.2%
Builders FirstSource, Inc.5.625% 09/01/20240.2%
Callon Petroleum Co.6.125% 10/01/20240.2%
Covanta Holding Corp.6.000% 01/01/20270.2%
Under Armour, Inc.3.250% 06/15/20260.2%
Pacific Gas & Electric Co.6.050% 03/01/20340.2%
PGT Escrow Issuer Inc6.750% 08/01/20260.2%
W&T Offshore, Inc.9.750% 11/01/20230.2%
Brink's Co/The4.625% 10/15/20270.2%
Tronox Finance PLC5.750% 10/01/20250.2%
Penn National Gaming, Inc.5.625% 01/15/20270.2%
Post Holdings, Inc.5.500% 03/01/20250.2%
Micron Technology, Inc.5.327% 02/06/20290.2%
Sandy Creek Energy Associates5.000% 11/09/20200.2%
Geo Group, Inc.6.000% 04/15/20260.2%
Tullow Oil plc7.000% 03/01/20250.2%
BankUnited, Inc.4.875% 11/17/20250.2%
Intesa Sanpaolo SpA5.710% 01/15/20260.2%
Waste Pro USA Inc5.500% 02/15/20260.2%
Berry Petroleum Co.7.000% 02/15/20260.2%
Frontera Generation Hold6.724% 05/02/20250.2%
Macquarie Bank Ltd./London6.125% 03/08/21670.2%
Advanced Micro Devices, Inc.2.125% 09/01/20260.2%
Aston Martin Capital Holdings Ltd6.500% 04/15/20220.2%
Telecom Italia SpA1.125% 03/26/20220.2%
Centennial Resource Production LLC5.375% 01/15/20260.2%
Banff Merger Sub Inc9.750% 09/01/20260.2%
Rockies Express Pipeline LLC6.875% 04/15/20400.2%
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell o5.000% 06/01/20240.2%
Exterran Energy Solutions L.P. / EES Finance Corp.8.125% 05/01/20250.2%
Eldorado Resorts, Inc.6.000% 04/01/20250.2%
Booz Allen Hamilton, Inc.5.125% 05/01/20250.2%
Williams Scotsman International Inc6.875% 08/15/20230.2%
Blue Cube Spinco, Inc.10.000% 10/15/20250.2%
Oasis Petroleum, Inc.6.250% 05/01/20260.2%
Cogent Communications Group, Inc.5.375% 03/01/20220.2%
AHP Health Partners Inc9.750% 07/15/20260.2%
Sinclair Broadcast Group, Inc.5.875% 03/15/20260.2%
Caesars Palace Las Vegas Trust 2017-VICI4.499% 10/15/20340.2%
Peabody Energy Corp.6.375% 03/31/20250.2%
Shea Homes LP / Shea Homes Funding Corp.6.125% 04/01/20250.2%
Hillman Group, Inc.6.375% 07/15/20220.2%
EW Scripps Co.5.125% 05/15/20250.2%
KeyCorp.5.000% 12/31/20990.2%
Horizon Pharma USA Inc8.750% 11/01/20240.2%
Intelsat Jackson Holdings SA8.500% 10/15/20240.2%
Azul Investments LLP5.875% 10/26/20240.2%
Genworth Holdings Inc4.900% 08/15/20230.2%
Gray Television, Inc.7.000% 05/15/20270.2%
FAGE International SA/ FAGE USA Dairy Industry Inc5.625% 08/15/20260.2%
NGPL Pipeco LLC4.875% 08/15/20270.2%
SPX FLOW, Inc.5.625% 08/15/20240.2%
Surgery Center Holdings, Inc.10.000% 04/15/20270.2%
Lamb Weston Holdings, Inc.4.875% 11/01/20260.2%
Toll Brothers Finance Corp.4.875% 03/15/20270.2%
William Carter Co.5.625% 03/15/20270.2%
Apergy Corp6.375% 05/01/20260.2%
WPX Energy, Inc.5.250% 09/15/20240.2%
Rede D'or Finance Sarl4.950% 01/17/20280.2%
TRI Pointe Homes LLC5.250% 06/01/20270.2%
NextEra Energy Operating Partners LP4.500% 09/15/20270.2%
Aegea Finance Sarl5.750% 10/10/20240.2%
Southwestern Energy Co.7.750% 10/01/20270.2%
HCA, Inc.7.500% 12/15/20230.2%
AMC Networks, Inc.5.000% 04/01/20240.2%
Yum! Brands, Inc.5.350% 11/01/20430.2%
Belo Corp.7.250% 09/15/20270.2%
Darling International, Inc.5.250% 04/15/20270.2%
Cheniere Energy Partners LP5.625% 10/01/20260.2%
Intertape Polymer Group Inc7.000% 10/15/20260.2%
Rumo Luxembourg Sarl7.375% 02/09/20240.2%
Gray Television, Inc.5.875% 07/15/20260.2%
HCA, Inc.5.875% 02/01/20290.2%
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell o4.750% 06/01/20270.2%
Williams Scotsman International Inc7.875% 12/15/20220.2%
Enterprise Development Authority/The12.000% 07/15/20240.2%
Autopistas del Sol SA/Costa Rica7.375% 12/30/20300.2%
CSI Compressco LP / CSI Compressco Finance Inc7.500% 04/01/20250.2%
WeWork Cos Inc7.875% 05/01/20250.2%
Banff Merger Sub Inc8.375% 09/01/20260.2%
Texas Capital Bank NA/Dallas TX5.250% 01/31/20260.2%
Clear Channel Worldwide Holdings, Inc.9.250% 02/15/20240.2%
William Lyon Homes, Inc.5.875% 01/31/20250.2%
MEG Energy Corp.6.500% 01/15/20250.2%
Ladder Capital Finance Holdings LLC/Ladder Capital5.250% 10/01/20250.2%
West Street Merger Sub Inc6.375% 09/01/20250.2%
SM Energy Co.6.750% 09/15/20260.2%
Rain CII Carbon LLC7.250% 04/01/20250.2%
Ingles Markets, Inc.5.750% 06/15/20230.2%
TopBuild Corp.5.625% 05/01/20260.2%
Credit Suisse Group AG7.250% 09/12/21680.2%
Air Medical Group Holdings, Inc.6.375% 05/15/20230.2%
Marriott Ownership Resorts Inc / ILG LLC6.500% 09/15/20260.2%
DaVita, Inc.5.125% 07/15/20240.2%
H&E Equipment Services, Inc.5.625% 09/01/20250.2%
Rumo Luxembourg Sarl5.875% 01/18/20250.2%
Boyd Gaming Corp.6.000% 08/15/20260.2%
Community Health Systems, Inc.8.000% 03/15/20260.2%
Fair Isaac Corp.5.250% 05/15/20260.2%
Matterhorn Merger Sub LLC / Matterhorn Finance Sub8.500% 06/01/20260.2%
Electricite de France SA5.625% 01/22/21640.2%
Jonah Energy LLC / Jonah Energy Finance Corp7.250% 10/15/20250.2%
j2 Cloud Services LLC / j2 Global Co-Obligor Inc6.000% 07/15/20250.2%
Country Garden Holdings Co. Ltd.5.125% 01/17/20250.2%
Longview Power8.590% 03/25/20210.2%
Steel Dynamics, Inc.4.125% 09/15/20250.2%
Univision Communications Inc.5.233% 03/15/20240.2%
United Rentals, Inc.5.250% 01/15/20300.2%
Service Corp. International4.625% 12/15/20270.2%
Surgery Center Holdings, Inc.6.750% 07/01/20250.2%
ViaSat, Inc.5.625% 04/15/20270.2%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.2%
Masonite International Corp.5.750% 09/15/20260.2%
Promontoria Holding 264 BV6.750% 08/15/20230.2%
Eoc Group Inc5.727% 02/28/20250.2%
Orchestra Borrower LLC / Orchestra Co-Issuer Inc6.750% 06/15/20220.2%
Pharmaceutical Product Development LLC6.375% 08/01/20230.2%
VeriSign, Inc.5.250% 04/01/20250.2%
New Gold, Inc.6.250% 11/15/20220.2%
Uber Technologies Inc8.000% 11/01/20260.2%
Garrett LX I Sarl / Garrett Borrowing LLC5.125% 10/15/20260.1%
ESH Hospitality, Inc.5.250% 05/01/20250.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.000% 12/01/20240.1%
Itron, Inc.5.000% 01/15/20260.1%
Stonegate Pub Company Financing PLC4.875% 03/15/20220.1%
Extraction Oil & Gas Inc7.375% 05/15/20240.1%
InterXion Holding NV4.750% 06/15/20250.1%
Pactiv Corp.7.950% 12/15/20250.1%
Cheniere Energy Partners LP5.250% 10/01/20250.1%
U.S. Silica Company6.500% 05/01/20250.1%
VF Holding Corp9.733% 07/02/20260.1%
Meredith Corp.6.875% 02/01/20260.1%
Sri Lanka (Democratic Socialist Republic of)6.825% 07/18/20260.1%
Virgin Media Secured Finance plc4.875% 01/15/20270.1%
Barminco Finance Pty Ltd.6.625% 05/15/20220.1%
Techem Verwaltungsgesellschaft 674 mbH6.000% 07/30/20260.1%
Wendy's International, Inc.7.000% 12/15/20250.1%
Garda World Security Corp8.750% 05/15/20250.1%
Coeur Mining, Inc.5.875% 06/01/20240.1%
Boyne USA Inc7.250% 05/01/20250.1%
Thor Industries, Inc.6.483% 02/01/20260.1%
JB Poindexter & Co., Inc.7.125% 04/15/20260.1%
Ashton Woods USA LLC / Ashton Woods Finance Co.6.750% 08/01/20250.1%
Carrizo Oil & Gas, Inc.8.250% 07/15/20250.1%
Southern Star Central Corp.5.125% 07/15/20220.1%
Quicken Loans Inc5.250% 01/15/20280.1%
Huntington Bancshares, Inc.5.700% 12/31/20990.1%
Valeant Pharmaceuticals International, Inc.5.500% 03/01/20230.1%
Wolverine World Wide, Inc.5.000% 09/01/20260.1%
Tenet Healthcare Corp.7.000% 08/01/20250.1%
Cenovus Energy, Inc.4.250% 04/15/20270.1%
Guitar Center Escrow Issuer Inc9.500% 10/15/20210.1%
Brazos Valley Longhorn LLC / Brazos Valley Longhor6.875% 02/01/20250.1%
Mercer International, Inc.5.500% 01/15/20260.1%
Tenneco, Inc.5.000% 07/15/20260.1%
Transocean Poseidon Ltd6.875% 02/01/20270.1%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.1%
Weight Watchers International, Inc.8.625% 12/01/20250.1%
Sealed Air Corp.6.875% 07/15/20330.1%
BCD Acquisition, Inc.9.625% 09/15/20230.1%
Chaparral Energy, Inc.8.750% 07/15/20230.1%
Indigo Natural Resources LLC6.875% 02/15/20260.1%
Rockpoint Gas Storage Canada Ltd7.000% 03/31/20230.1%
PDC Energy, Inc.6.125% 09/15/20240.1%
MPH Acquisition Holdings LLC7.125% 06/01/20240.1%
CDW Corp.5.500% 12/01/20240.1%
Polaris Intermediate Corp8.500% 12/01/20220.1%
Targa Resources Partners L.P.5.375% 02/01/20270.1%
Buena Vista Gaming Authority13.000% 04/01/20230.1%
Fresh Market, Inc.9.750% 05/01/20230.1%
Salem Communications Corp.6.750% 06/01/20240.1%
Diebold, Inc.8.500% 04/15/20240.1%
Summit Materials LLC6.500% 03/15/20270.1%
Millicom International Cellular S.A.6.625% 10/15/20260.1%
Netflix, Inc.3.875% 11/15/20290.1%
Murphy Oil USA, Inc.5.625% 05/01/20270.1%
Exterran Partners L.P. / EXLP Finance Corp.6.875% 04/01/20270.1%
Forming Machining Indust6.947% 10/09/20250.1%
Acrisure LLC / Acrisure Finance Inc8.125% 02/15/20240.1%
SPCM S.A.4.875% 09/15/20250.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.750% 10/01/20250.1%
CSN Resources SA7.625% 04/17/20260.1%
Clearway Energy Operating LLC5.750% 10/15/20250.1%
Optimas OE Solutions Holding LLC / Optimas OE Solu8.625% 06/01/20210.1%
Mobile Mini, Inc.5.875% 07/01/20240.1%
Inter Media and Communication SpA4.875% 12/31/20220.1%
WPX Energy, Inc.5.750% 06/01/20260.1%
Ahern Rentals, Inc.7.375% 05/15/20230.1%
Targa Resources Partners L.P.4.250% 11/15/20230.1%
OCI NV6.625% 04/15/20230.1%
Hill-Rom Holdings, Inc.5.000% 02/15/20250.1%
Trident Merger Sub Inc6.625% 11/01/20250.1%
Laureate Education, Inc.8.250% 05/01/20250.1%
NSG Holdings LLC / NSG Holdings, Inc.7.750% 12/15/20250.1%
AES Corp.4.500% 03/15/20230.1%
Pulte Group, Inc.6.375% 05/15/20330.1%
HCA, Inc.5.375% 02/01/20250.1%
Alliant Holdings Intermediate LLC8.250% 08/01/20230.1%
Dutch Lion BV11.250% 06/15/20200.1%
Hawaiian Airlines Class B Pass Through Certificate4.950% 01/15/20220.1%
Cardtronics Inc / Cardtronics USA Inc5.500% 05/01/20250.1%
Jumia Technologies AG0.000% -0.1%
Antero Midstream Partners L.P. / Antero Midstream5.375% 09/15/20240.1%
General Motors Financial Co., Inc.5.650% 01/17/20290.1%
Netflix, Inc.4.875% 04/15/20280.1%
Chesapeake Energy Corp.7.500% 10/01/20260.1%
Schaeffler Verwaltung Zwei GmbH4.750% 09/15/20260.1%
Energizer Holdings, Inc.6.375% 07/15/20260.1%
Steel Dynamics, Inc.5.000% 12/15/20260.1%
Oceaneering International, Inc.6.000% 02/01/20280.1%
Targa Resources Partners L.P.5.875% 04/15/20260.1%
Merlin Entertainments PLC5.750% 06/15/20260.1%
Transocean Pontus Ltd6.125% 08/01/20250.1%
Caesars Palace Las Vegas Trust 2017-VICI4.499% 10/15/20340.1%
Tempo Acquisition LLC / Tempo Acquisition Finance6.750% 06/01/20250.1%
Provincia de la Rioja9.750% 02/24/20250.1%
Permian Resources LLC / AEPB Finance Corp.13.000% 11/30/20200.1%
Provident Funding Associates L.P. / PFG Finance Co6.375% 06/15/20250.1%
Bristow Group, Inc.8.750% 03/01/20230.1%
Sanchez Energy Corp.7.250% 02/15/20230.1%
Marble II Pte Ltd.5.300% 06/20/20220.1%
Topgolf International, Inc.7.998% 02/09/20260.1%
Aspen Technology, Inc.0.000% -0.1%
Shopify, Inc.0.000% -0.1%
Shockwave Medical Inc0.000% -0.1%
AES Corp.5.125% 09/01/20270.1%
Provincia de Rio Negro7.750% 12/07/20250.1%
Novelis Corp.6.250% 08/15/20240.1%
Ritchie Bros Auctioneers, Inc.5.375% 01/15/20250.1%
Roku Inc0.000% -0.1%
Parsley Energy LLC6.250% 06/01/20240.1%
Trade Me Group Ltd6.851% 04/10/20260.1%
Allegheny Technologies, Inc.7.875% 08/15/20230.1%
Holly Energy Partners L.P. / Holly Energy Finance6.000% 08/01/20240.1%
Kernel Holding SA8.750% 01/31/20220.1%
WTT Investment Ltd/Hong Kong5.500% 11/21/20220.1%
Central American Bottling Corp.5.750% 01/31/20270.1%
American Axle & Manufacturing, Inc.6.500% 04/01/20270.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.6.250% 11/01/20280.1%
Teradyne, Inc.1.250% 12/15/20230.1%
GOBP Holdings Inc.9.658% 10/22/20260.1%
Transocean Proteus Ltd.6.250% 12/01/20240.1%
William Lyon Homes, Inc.6.000% 09/01/20230.1%
York Risk Services Holding Corp8.500% 10/01/20220.1%
SPX FLOW, Inc.5.875% 08/15/20260.1%
Darling Global Finance BV3.625% 05/15/20260.1%
Qorvo, Inc.5.500% 07/15/20260.1%
MHP Lux SA6.950% 04/03/20260.1%
Wabash National Corp.5.500% 10/01/20250.1%
Sanderson Farms, Inc.0.000% -0.1%
Wyndham Hotels & Resorts Inc5.375% 04/15/20260.1%
Freshpet, Inc.0.000% -0.1%
New Enterprise Stone & Lime Co., Inc.6.250% 03/15/20260.1%
Freedom Mortgage Corp8.250% 04/15/20250.1%
Great Lakes Dredge & Dock Corp.8.000% 05/15/20220.1%
Trimas Corp.4.875% 10/15/20250.1%
Excelitas Technologies10.096% 11/15/20250.1%
Elwood Energy LLC8.159% 07/05/20260.1%
W/S Packaging Holdings Inc9.000% 04/15/20230.1%
Monro Muffler Brake, Inc.0.000% -0.1%
Exgen Renewables IV, LLC5.630% 11/28/20240.1%
Eskom Holdings SOC Ltd.8.450% 08/10/20280.1%
Twitter, Inc.0.250% 06/15/20240.1%
Mirion Technologies Inc6.698% 03/06/20260.1%
Eterna Capital Pte Ltd8.000% 12/11/20220.1%
Zscaler Inc0.000% -0.1%
Novelis Corp.5.875% 09/30/20260.1%
Werner FinCo LP / Werner FinCo Inc8.750% 07/15/20250.1%
HEICO Corp.0.000% -0.1%
Kenan Advantage Group, Inc.7.875% 07/31/20230.1%
Acrisure LLC / Acrisure Finance Inc7.000% 11/15/20250.1%
ServiceMaster Co LLC/The5.125% 11/15/20240.1%
Nokia Corp.4.375% 06/12/20270.1%
Helix Gen Funding, LLC6.233% 06/03/20240.1%
American Woodmark Corp.4.875% 03/15/20260.1%
NESCO LLC / NESCO Finance Corp6.875% 02/15/20210.1%
JBS USA LLC/JBS USA Finance, Inc.5.875% 07/15/20240.1%
Gateway Casinos & Entertainment Ltd8.250% 03/01/20240.1%
Golar LNG Partners L.P.8.866% 05/18/20210.1%
Elanco Animal Health Inc4.900% 08/28/20280.1%
MGM Growth Properties Operating Partnership LP / M5.625% 05/01/20240.1%
Stoneway Capital Corp10.000% 03/01/20270.1%
Dole Food Co., Inc.7.250% 06/15/20250.1%
Chemours Co.5.375% 05/15/20270.1%
Chemours Co.4.000% 05/15/20260.1%
Koppers, Inc.6.000% 02/15/20250.1%
Endeavor Energy Resources L.P.5.500% 01/30/20260.1%
Sally Holdings LLC / Sally Capital, Inc.5.625% 12/01/20250.1%
CoStar Group, Inc.0.000% -0.1%
Hema Bondco II BV8.500% 01/15/20230.1%
Altice Luxembourg SA7.625% 02/15/20250.1%
Stena AB7.000% 02/01/20240.1%
LBC Tank Terminals Holding Netherlands BV6.875% 05/15/20230.1%
Murphy Oil Corp.6.875% 08/15/20240.1%
Fogo De Chao Inc6.648% 04/07/20250.1%
Kuehg Corp10.851% 08/15/20250.1%
Denbury Resources, Inc.9.000% 05/15/20210.1%
SRC Energy Inc6.250% 12/01/20250.1%
Stars Group Holdings BV / Stars Group US Co-Borrow7.000% 07/15/20260.1%
Ziggo Bond Co. BV5.875% 01/15/20250.1%
Navicure Inc9.983% 10/31/20250.1%
Delphi Technologies PLC5.000% 10/01/20250.1%
Sotheby's4.875% 12/15/20250.1%
Community Health Systems, Inc.5.125% 08/01/20210.1%
Chart Industries, Inc.1.000% 11/15/20240.1%
KGA Escrow LLC7.500% 08/15/20230.1%
Sage Therapeutics, Inc.0.000% -0.1%
Lululemon Athletica, Inc.0.000% -0.1%
Entercom Media Corp6.500% 05/01/20270.1%
Live Nation Entertainment, Inc.5.625% 03/15/20260.1%
CVR Partners LP / CVR Nitrogen Finance Corp9.250% 06/15/20230.1%
Tandem Diabetes Care, Inc.0.000% -0.1%
Stevens Holding Co Inc6.125% 10/01/20260.1%
Latam Finance Ltd.7.000% 03/01/20260.1%
MSCI, Inc.0.000% -0.1%
Ingevity Corp.0.000% -0.1%
Eldorado Resorts, Inc.6.000% 09/15/20260.1%
Geopark Ltd.6.500% 09/21/20240.1%
Export Credit Bank of Turkey8.250% 01/24/20240.1%
Deckers Outdoor Corp.0.000% -0.1%
Asbury Automotive Group, Inc.6.000% 12/15/20240.1%
Dynagas LNG Partners L.P.6.250% 10/30/20190.1%
Radiate Holdco LLC / Radiate Finance Inc6.625% 02/15/20250.1%
Veeva Systems, Inc.0.000% -0.1%
DENTSPLY International, Inc.0.000% -0.1%
GW Pharmaceuticals plc0.000% -0.1%
Guardant Health Inc0.000% -0.1%
Shake Shack, Inc.0.000% -0.1%
AMC Entertainment Holdings, Inc.5.875% 11/15/20260.1%
DPL, Inc.7.250% 10/15/20210.1%
Revlon, Inc. Class A5.571% 09/07/20230.1%
QEP Resources, Inc.5.250% 05/01/20230.1%
Hunt Oil Co of Peru LLC Sucursal Del Peru6.375% 06/01/20280.1%
TGP Holdings III LLC11.101% 09/20/20250.1%
24 Hour Fitness Worldwide, Inc.8.000% 06/01/20220.1%
Pyxus International Inc9.875% 07/15/20210.1%
Valeant Pharmaceuticals International, Inc.7.000% 03/15/20240.1%
Sugarhouse HSP Gaming Prop Mezz LP/Fin Corp.5.875% 05/15/20250.1%
Theta Capital Pte Ltd.6.750% 10/31/20260.1%
Rockwell Automation, Inc.0.000% -0.1%
Danaher Corp.0.000% 04/15/20220.1%
First Solar, Inc.0.000% -0.1%
Simmons Foods, Inc.7.750% 01/15/20240.1%
Buenos Aires, Argentina7.500% 06/01/20270.1%
Lonestar II Generation H7.610% 04/20/20260.1%
Louisiana-Pacific Corp.4.875% 09/15/20240.1%
GCP Applied Technologies, Inc.5.500% 04/15/20260.1%
JD Power & Associates9.500% 06/09/20240.1%
Twilio, Inc.0.250% 06/01/20230.1%
Jacobs Entertainment, Inc.7.875% 02/01/20240.1%
DocuSign Inc0.500% 09/15/20230.1%
Bill Barrett Corp.7.000% 10/15/20220.1%
Dell International LLC / EMC Corp6.020% 06/15/20260.1%
VM Holding SA5.375% 05/04/20270.1%
NVA Holdings Inc/United States6.875% 04/01/20260.1%
Pinnacle Bidco PLC6.375% 02/15/20250.1%
Telefonica Celular del Paraguay SA5.875% 04/15/20270.1%
Algeco Scotsman Global Finance plc8.000% 02/15/20230.1%
Dover Corp.0.000% -0.1%
Bright Horizons Family Solutions, Inc.0.000% -0.1%
Etsy, Inc.0.000% 03/01/20230.1%
Inmarsat Finance plc6.500% 10/01/20240.1%
ProAmpac PG Borrower LLC6.111% 11/20/20230.1%
QuickSilver Inc.8.350% 04/08/20240.1%
Oceaneering International, Inc.4.650% 11/15/20240.1%
Terraform Global Operating LLC6.125% 03/01/20260.1%
Six Flags Entertainment Corp.4.875% 07/31/20240.1%
Yak Access LLC12.319% 07/10/20260.1%
Graco, Inc.0.000% -0.1%
Realogy Group LLC / Realogy Co-Issuer Corp9.375% 04/01/20270.1%
BBA US Holdings Inc5.375% 05/01/20260.1%
MGIC Investment Corp.5.750% 08/15/20230.1%
Mohegan Tribal Gaming Authority7.875% 10/15/20240.1%
Navistar International Corp.6.625% 11/01/20250.1%
Performance Food Group, Inc.5.500% 06/01/20240.1%
Bahia Sul Holdings GmbH6.000% 01/15/20290.1%
RegionalCare Hospital Partners Holdings Inc8.250% 05/01/20230.1%
Warrior Met Coal Inc8.000% 11/01/20240.1%
CPUK Finance Ltd4.875% 08/28/20250.1%
Acadia Healthcare Co., Inc.5.625% 02/15/20230.1%
Brown-Forman Corp.0.000% -0.1%
General Motors Financial Co., Inc.3.850% 01/05/20280.1%
Medallion Midland5.733% 10/31/20240.1%
Clearway Energy Operating LLC5.000% 09/15/20260.1%
Station Casinos LLC5.000% 10/01/20250.1%
Powerteam Services LLC9.851% 03/06/20260.1%
Compass Minerals International, Inc.4.875% 07/15/20240.1%
Tencent Music Entertainment Group0.000% -0.1%
Cumberland Farms Inc6.750% 05/01/20250.1%
Britax Childcare4.500% 10/15/20200.1%
Glaukos Corp.0.000% -0.1%
HLF Financing Sarl LLC / Herbalife International I7.250% 08/15/20260.1%
Griffon Corp.5.250% 03/01/20220.1%
Nemak S.A.B. de C.V.4.750% 01/23/20250.1%
Southwestern Energy Co.7.500% 04/01/20260.1%
Gulfport Energy Corp.6.375% 05/15/20250.1%
China Evergrande Group8.750% 06/28/20250.1%
Moncler SpA0.000% -0.1%
Exelixis, Inc.0.000% -0.1%
DG Investment Intermediate Holdings 2, Inc. (aka Convergint Technologies Holdings, LLC)5.483% 02/03/20250.1%
Mercadolibre, Inc.2.000% 08/15/20280.1%
Teledyne Technologies, Inc.0.000% -0.1%
Hadrian Merger Sub Inc8.500% 05/01/20260.1%
United Rentals, Inc.4.625% 10/15/20250.1%
Airxcel, Inc.7.252% 04/28/20250.1%
Miller Homes Group Holdings PLC5.500% 10/15/20240.1%
Altran Technologies9.233% 06/26/20260.1%
MRP Generation Holdings LLC9.359% 10/18/20220.1%
Molina Healthcare, Inc.5.375% 11/15/20220.1%
Del Frisco's Restaurant Grou8.500% 06/27/20250.1%
Commercial Barge Line11.233% 11/12/20200.1%
Cloud Crane LLC10.125% 08/01/20240.1%
Norbord, Inc.6.250% 04/15/20230.1%
Netflix, Inc.5.875% 11/15/20280.1%
Transocean Phoenix 2 Ltd.7.750% 10/15/20240.1%
Rayonier AM Products, Inc.5.500% 06/01/20240.1%
Tupras Turkiye Petrol Rafine4.500% 10/18/20240.1%
Gibson Brands, Inc0.000% -0.1%
Magnolia Oil & Gas Corp0.000% -0.1%
B&G Foods, Inc.5.250% 04/01/20250.1%
Allison Transmission, Inc.5.000% 10/01/20240.1%
Toll Brothers Finance Corp.4.350% 02/15/20280.1%
Province of Santa Fe6.900% 11/01/20270.1%
Cabot Oil & Gas Corp.0.000% -0.1%
Flex Acquisition Co Inc7.875% 07/15/20260.1%
AssuredPartners Inc7.000% 08/15/20250.1%
Flynn Restaurant Group9.479% 06/29/20260.1%
Levi Strauss & Co.3.375% 03/15/20270.1%
PG&E Corp4.750% 12/31/20200.1%
Mattel, Inc.5.450% 11/01/20410.1%
Cheniere Corpus Christi Holdings LLC7.000% 06/30/20240.1%
Wyndham Worldwide Corp.6.350% 10/01/20250.1%
General Motors Co.5.000% 10/01/20280.1%
New Home Co, Inc./The7.250% 04/01/20220.1%
Provincia de Mendoza Argentina8.375% 05/19/20240.1%
Swordfish Merger Sub LLC9.230% 02/02/20260.1%
Provincia de Cordoba7.450% 09/01/20240.1%
North American Lifting Holdings, Inc. (aka TNT Crane & Rigging, Inc)11.601% 11/26/20210.1%
Zebra Technologies Corp.0.000% -0.1%
Rio Energy SA / UGEN SA / UENSA SA6.875% 02/01/20250.1%
Moxie Patriot LLC8.351% 12/19/20200.1%
American Axle & Manufacturing, Inc.6.250% 04/01/20250.1%
Mercer International, Inc.7.375% 01/15/20250.1%
Owens Corning4.300% 07/15/20470.1%
Chemours Co.7.000% 05/15/20250.1%
CIBT Solutions, Inc.9.210% 06/01/20250.1%
Lovesac Co/The0.000% -0.1%
Keane Group Holdings LLC6.250% 05/19/20250.1%
Adient US LLC7.000% 05/15/20260.1%
Owens Corning4.400% 01/30/20480.1%
Joseph T Ryerson & Son, Inc.11.000% 05/15/20220.1%
Lamb Weston Holdings, Inc.4.625% 11/01/20240.1%
Southern Graphics Inc9.983% 11/22/20230.1%
MSCI, Inc.5.375% 05/15/20270.1%
Gray Television, Inc.5.125% 10/15/20240.1%
Medplast Holdings Inc0.000% 06/22/20260.1%
Credit Index Swap5.000% 12/20/20230.1%
Claire's Stores, Inc.0.000% -0.1%
AMC Entertainment Holdings, Inc.6.125% 05/15/20270.1%
Targa Resources Partners L.P.6.500% 07/15/20270.1%
Wyndham Worldwide Corp.5.750% 04/01/20270.1%
Ashtead Capital, Inc.5.250% 08/01/20260.1%
Sirius XM Radio, Inc.5.375% 07/15/20260.1%
Panther BF Aggregator 2 LP / Panther Finance Co In6.250% 05/15/20260.1%
HCA, Inc.7.690% 06/15/20250.1%
AerCap Ireland Capital Ltd.3.650% 07/21/20270.1%
CIT Group, Inc.5.250% 03/07/20250.1%
Energizer Holdings, Inc.7.750% 01/15/20270.1%
Silk Road Medical Inc0.000% -0.1%
Teleflex, Inc.4.625% 11/15/20270.1%
Fox Factory Holding Corp.0.000% -0.1%
Tenet Healthcare Corp.4.625% 07/15/20240.1%
Lennar Corp.4.750% 11/29/20270.1%
General Motors Co.4.200% 10/01/20270.1%
UC Holdings0.000% -0.1%
AerCap Ireland Capital Ltd.4.450% 04/03/20260.1%
Univision Communications, Inc.5.125% 02/15/20250.1%
Albertsons Cos LLC / Safeway, Inc. / New Albertson5.750% 03/15/20250.1%
William Lyon Homes, Inc.7.000% 08/15/20220.1%
Community Health Systems, Inc.6.250% 03/31/20230.1%
High Ridge Brands Co.8.875% 03/15/20250.1%
Panda Temple Power, LLC9.800% 02/07/20230.1%
CF Industries, Inc.4.950% 06/01/20430.1%
Teleflex, Inc.4.875% 06/01/20260.0%
Panther BF Aggregator 2 LP / Panther Finance Co In8.500% 05/15/20270.0%
Sonic Automotive, Inc.6.125% 03/15/20270.0%
CIT Group, Inc.6.000% 04/01/20360.0%
Claire's Stores, Inc.14.000% 09/05/20380.0%
Homology Medicines Inc0.000% -0.0%
PG&E Corp1.125% 12/31/20200.0%
Ashtead Capital, Inc.4.375% 08/15/20270.0%
Chaparral Energy, Inc.0.000% -0.0%
FX USD/EUR 05/190.000% 05/14/20190.0%
HCA, Inc.5.875% 02/15/20260.0%
Claire's Stores, Inc.0.000% 10/12/20380.0%
Credit Index Swap5.000% 06/20/20240.0%
Panda Power Funds8.351% 12/19/20200.0%
FX USD/EUR 06/190.000% 06/07/20190.0%
Lonestar II Generation H7.610% 04/20/20260.0%
FGI Operating Company, LLC0.000% 05/15/20220.0%
Templar Energy LLC0.000% -0.0%
FX USD/GBP 06/190.000% 06/05/20190.0%
Monitronics International, Inc.9.125% 04/01/20200.0%
Eoc Group Inc2.000% 02/26/20260.0%
Credit Default Swap1.000% 06/20/20200.0%
FX USD/EUR 05/190.000% 05/14/20190.0%
FX USD/EUR 05/190.000% 05/14/20190.0%
Tonon Luxembourg S.A.10.500% 05/14/20240.0%
FX USD/GBP 06/190.000% 06/05/20190.0%
FX USD/GBP 06/190.000% 06/05/20190.0%
Morgan Stanley Capital I Trust5.510% 07/15/20560.0%
Remington Outdoor Co. Inc.0.000% -0.0%
Templar Energy LLC0.000% -0.0%
FX USD/GBP 06/190.000% 06/05/20190.0%
FX USD/EUR 05/190.000% 05/14/20190.0%
FX USD/GBP 06/190.000% 06/05/20190.0%
Penson Technologies LLC0.000% -0.0%
FX USD/EUR 05/190.000% 05/14/20190.0%
FX USD/CAD 06/190.000% 06/05/20190.0%
Afren plc11.500% 02/01/20160.0%
FX USD/GBP 06/190.000% 06/05/20190.0%
FX USD/EUR 06/190.000% 06/07/20190.0%
Afren plc10.250% 04/08/20190.0%
FX USD/EUR 05/190.000% 05/14/20190.0%
FX USD/GBP 06/190.000% 06/05/20190.0%
FX USD/EUR 05/190.000% 05/14/20190.0%
Afren plc6.625% 12/09/20200.0%
FX USD/GBP 06/190.000% 06/05/20190.0%
FX EUR/USD 05/190.000% 05/14/20190.0%
Fairway Group Holdings Corp.0.000% 11/24/20230.0%
Fairway Group Holdings Corp.0.000% 02/24/20240.0%
US 5YR NOTE (CBT) JUN190.000% 07/03/20190.0%
US 10YR ULTRA FUT JUN190.000% 06/28/20190.0%
US 10YR NOTE (CBT)JUN190.000% 06/28/20190.0%
US ULTRA BOND CBT JUN190.000% 06/28/20190.0%
Mirabela Nickel Ltd.1.000% 09/16/20440.0%
Washington Mutual, Inc.6.875% 06/15/20110.0%
General Motors Co.7.200% 01/15/20490.0%
Momentive Performance Escrow0.000% 12/31/20490.0%
Fairway Group Acquisition Company0.000% -0.0%
EURO-BOBL FUT Jun190.000% 06/10/20190.0%
EURO-BUND FUTURE Jun190.000% 06/10/20190.0%
Claire's Stores, Inc.0.000% 09/15/20220.0%
Remington Outdoor Co. Inc.0.000% -0.0%
US LONG BOND(CBT) JUN190.000% 06/28/20190.0%
FX EUR/USD 06/190.000% 06/07/20190.0%
FX CAD/USD 06/190.000% 06/05/20190.0%
US 2YR NOTE (CBT) JUN190.000% 07/03/20190.0%
FX EUR/USD 05/190.000% 05/14/20190.0%
FX GBP/USD 06/190.000% 06/05/20190.0%
FX EUR/USD 05/190.000% 05/14/20190.0%
FX EUR/USD 05/190.000% 05/14/20190.0%
FX EUR/USD 05/190.000% 05/14/20190.0%
FX CAD/USD 06/190.000% 06/05/20190.0%
FX GBP/USD 06/190.000% 06/05/20190.0%
FX EUR/USD 06/190.000% 06/07/20190.0%
FX EUR/USD 05/190.000% 05/14/20190.0%
FX EUR/USD 05/190.000% 05/14/20190.0%
FX EUR/USD 05/190.000% 05/14/20190.0%
FX EUR/USD 05/190.000% 05/14/20190.0%
FX USD/EUR 06/190.000% 06/07/20190.0%

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 05/31/2019

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

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 06/26/2019
$0.154
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
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 06/30/2019
Daily Daily 07/31/2019
Daily Daily 08/31/2019
Daily Daily 09/30/2019
Daily Daily 10/31/2019
Daily Daily 11/30/2019
Daily Daily 12/31/2019

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
12/17/2019 12/18/2019

Fees & Expenses

Fees & Expenses

Expense Ratioas of 05/31/2019

1.55%

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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Publish Date:11/03/2015
Annual Report
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Publish Date:11/03/2015
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Publish Date:11/03/2015
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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