LHYCX | High Yield Fund Class C | Lord Abbett

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High Yield Fund

Daily price w/o sales charge as of 01/14/2022

$7.37

arrowDown$0.01

YTD Returns w/o sales charge as of 01/14/2022

-1.05%

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 01/14/2022  

w/o sales charge 4.21%

30-Day Standardized Yield 2 as of 12/31/2021  

3.36%

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

Fund Basicsas of 12/31/2021

Total Net Assets
$7.46 B
Inception Date
12/31/1998
Dividend Frequency
Monthly
Fund Expense Ratio
1.53%
Number of Holdings
758
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

1.53%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 5.50% 5.50% 7.76% 4.94% 6.31% 6.00%
Lipper Category Avg. High Yield Funds 5.07% 5.07% 7.96% 5.41% 5.84% -
ICE BofA U.S. High Yield Constrained Index 5.35% 5.35% 8.53% 6.08% 6.71% 6.75%

Fund Expense Ratio :

1.53%

Fund Expense Ratio :

1.53%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 5.50% 5.50% 7.76% 4.94% 6.31% 6.00%
Lipper Category Avg. High Yield Funds 5.07% 5.07% 7.96% 5.41% 5.84% -
ICE BofA U.S. High Yield Constrained Index 5.35% 5.35% 8.53% 6.08% 6.71% 6.75%

Fund Expense Ratio :

1.53%

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

Yield, Stability, Liquidity, and Diversification: Are Fixed Income Allocations Still Up to the Task?
October 27, 2020

In an era of ultra-low interest rates, we re-examine the purpose and constitution of Core fixed income.

Uncovering Opportunity in a Rebounding U.S. High Yield Market
June 11, 2020

With the broad financial market recovery since late March, U.S. high yield is no longer as dislocated, but the rationale for a strategic allocation to the asset class remains intact in our view.

“Fallen Angels” Gain a Rising Profile in High Yield
June 1, 2020

Bonds downgraded from investment grade to speculative grade historically have outperformed other areas of high yield—but we believe a selective approach to these securities is crucial.

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.

Allocations are reported as of the date a security transaction is initiated; however, certain transactions may not settle until several days later. Accordingly, cash may appear as a negative allocation as a result of unsettled transactions.

Maturity Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 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 12/31/2021 View Portfolio

Rating Assets
A
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 & Co-Head of Taxable Fixed Income

20 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

30 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Managing Director, Portfolio Manager

13 Years of Industry Experience

Karen J. Gunnerson
Karen J. Gunnerson

Portfolio Manager

8 Years of Industry Experience

Supported By 63 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Performance

Dividend Yield 1 as of 01/14/2022  

w/o sales charge 4.21%

30-Day Standardized Yield 2 as of 12/31/2021  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.36% 3.36%

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

Fund Expense Ratio :

1.53%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 5.50% 5.50% 7.76% 4.94% 6.31% 6.00%
Lipper Category Avg. High Yield Funds 5.07% 5.07% 7.96% 5.41% 5.84% -
ICE BofA U.S. High Yield Constrained Index 5.35% 5.35% 8.53% 6.08% 6.71% 6.75%

Fund Expense Ratio :

1.53%

Fund Expense Ratio :

1.53%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 5.50% 5.50% 7.76% 4.94% 6.31% 6.00%
Lipper Category Avg. High Yield Funds 5.07% 5.07% 7.96% 5.41% 5.84% -
ICE BofA U.S. High Yield Constrained Index 5.35% 5.35% 8.53% 6.08% 6.71% 6.75%

Fund Expense Ratio :

1.53%

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 BofA U.S. High Yield Constrained Index
2021 5.50% 5.35%
2020 3.83% 6.07%
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% -
2010 13.44% -
2009 49.15% -
2008 -23.93% -
2007 1.84% -
2006 9.16% -
2005 0.53% -
2004 9.73% -
2003 20.72% -
2002 -0.54% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2021 1.57% 2.96% 0.47% 0.41% 5.50%
2020 -16.88% 10.78% 5.39% 6.99% 3.83%
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
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.

Allocations are reported as of the date a security transaction is initiated; however, certain transactions may not settle until several days later. Accordingly, cash may appear as a negative allocation as a result of unsettled transactions.

Rating Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 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 12/31/2021

Rating Assets
A
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 09/30/2021

  • Throughout the quarter, we maintained our conviction in the energy sector and added to the Fund’s top overweight position. The sector should benefit from the ongoing global economic recovery and increased consumer activity. While the Fund’s largest underweight subsector remained the gas distribution subsector, the Fund’s largest overweight subsector was exploration and production (E&P) by a significant margin. Exposure to this subsector remained primarily in BB securities issued by larger, well-capitalized operators best positioned to be rewarded as potential rising stars over the next year or two. Looking forward, we expect to continue building on the Fund’s position in the energy sector in the high yield space that remains supported by solid growth and a positive earnings outlook with low projected default rates. The Fund’s overweight position continued to be supported by strong fundamentals in energy companies that have been able to generate cashflow on a more consistent basis and have more robust balance sheet management. The sector also continued to be supported by a positive outlook in commodity prices, as Delta variant fears subsided and expectations for global economic growth rose. As such, WTI Crude futures regained momentum during in September and finished the quarter just above $75 per barrel. More recently, we refocused on adding in the area of BB-rated rising star candidates.
  • Separately, we remained constructive in basic industry and retail sectors which are now the second and fifth largest overweight positions of the Fund, respectively. The Delta variant was a significant headwind, particularly in the beginning of the quarter as cases drastically increased. As Delta variant headwinds begin to abate, we favor the long-term picture for both sectors. However, we reduced some of the Fund’s metals and mining exposure as we believe that energy-related commodities and consumer-oriented names that fall in the reopening theme have more relative value. Additionally, our caution was fueled by the potential slowdown in growth expectations in China due to regulatory pressures. Regarding retail, we believe its post-pandemic recovery has yet to be fully realized, and the consumer is still strong, boosted by continued labor market recovery and record high savings rates. That being said, we must be mindful of slowdowns in the economy and the inevitable reduction of fiscal and monetary stimulus on the horizon. The most recent release of the Purchasing Managers’ Index (PMI), which indicates trends in U.S. manufacturing, showed a softening of demand from its peaks seen earlier in the year and supply chain disruptions continuing to hamper production.
  • The leisure sector finished the quarter as the fourth largest overweight position in the Fund. Many of the Fund’s positions in this sector performed well above expectations, and we monetized these investments due to a combination of relative valuation and caution around the increasing Delta variant cases. However, most recently we reversed that shift and reentered the sector in the latter half of the quarter as Delta variant cases began to trend in the right direction, lifting the weight on the sector as a result. The Fund’s allocation to leisure had primarily been in regional gaming credits with the gaming industry benefiting from increased consumer demand. Regional gaming, particularly casinos, had benefited as they are typically less reliant on ‘fly-in’ customers and workweek business conferences, both of which are a larger part of the industry in international gaming centers, such as Las Vegas. Outside of gaming, the Fund’s positions in areas including theaters, hotels and airlines which were all associated with our reopening trades. We have retargeted these areas as potential new investments as we shift the Fund back into the leisure sector.
  • The telecommunications sector remained the Fund’s largest underweight as we have continued to target more cyclical credits that are associated with the economic recovery. The industry also continued to struggle with secular issues with traditional wireline companies particularly at risk as their customer base continued to erode. Meanwhile, in our view, the wireless subsector within telecommunications remained fully valued.
  • We continue to have a broadly constructive view on U.S. high yield credit. Year-to-date, high yield spread tightening has more than fully offset the move higher in benchmark risk-free yields. Although U.S. Treasury yields may continue rising on the back of a taper by the Fed, we believe that such a taper would be consistent with strong economic momentum which could offset any related financial conditions tightening. High yield spreads should offset that rise, as economic health is ultimately the arbiter of credit spreads.
  • We expect the trailing 12-month default rate to continue to fall below 1% through year end after peaking just above 6% in December. Furthermore, the U.S. distress ratio is at the lowest levels in 10 years, sitting at just 2.2% of the high yield market. Given the inverse relationship between recovery levels and the default rate, we expect default losses to account for a minimal drag on high yield index performance for the remainder of 2021 and through 2022. While we expect another record year of issuance in the high yield market, we believe technicals will remain favorable as we see up to 10% of the face value of the high yield market transitioning to investment grade over the coming 18 months, and activity remaining skewed to refinancing. Year-to-date through the end of September, demand has held up strongly, outstripping supply by approximately $1 billion.
  • We believe the current economic landscape is a favorable environment for high yield issuers and our Fund’s positioning currently reflects this risk posture. We have heavy exposure to the energy sector that should benefit from a strong outlook on commodities and supply and demand technicals on oil prices. The Fund also continues to be favorable on cyclical sectors including basic industry and retail, as we believe that COVID-19 and its impacts have reached another apex, which bodes well for a value or reopening rotation after those factors have lagged for six months. Moving forward, we favor lower quality credit tiers as some of our caution around the potential risks of the Delta variant and its implications for future economic growth subsided.
  • The Fund maintained modest allocations to out-of-index sectors, such as bank loans, common stock, convertibles, and investment grade bonds. We believe select exposures to these sectors offer attractive risk-reward opportunities, potential Fund diversification benefits and avenues for liquidity.

Portfolio Details as of 12/31/2021

Total Net Assets
$7.46 B
Number of Issues
758
Average Coupon
5.52%
Average Maturity
7.51 Years
Average Effective Duration
4.45 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 1.0%
Occidental Petroleum Corp 6.125% 01/01/2031 0.8%
Kraft Heinz Foods Co 4.375% 06/01/2046 0.7%
Kraft Heinz Foods Co 4.875% 10/01/2049 0.7%
Ford Motor Co 3.250% 02/12/2032 0.6%
CCO Holdings LLC / CCO Holdings Capital Corp 4.750% 03/01/2030 0.5%
Ford Motor Co 4.750% 01/15/2043 0.5%
Netflix Inc 4.625% 05/15/2029 0.5%
OneMain Finance Corp 4.000% 09/15/2030 0.5%
Centennial Resource Production LLC 5.375% 01/15/2026 0.5%
% of Total Assets 6.3%
Holding Coupon Maturity Assets
Sprint Capital Corp6.875% 11/15/20281.0%
Occidental Petroleum Corp6.125% 01/01/20310.8%
Kraft Heinz Foods Co4.375% 06/01/20460.7%
Kraft Heinz Foods Co4.875% 10/01/20490.7%
CCO Holdings LLC / CCO Holdings Capital Corp4.750% 03/01/20300.5%
Netflix Inc4.625% 05/15/20290.5%
Centennial Resource Production LLC5.375% 01/15/20260.5%
OneMain Finance Corp4.000% 09/15/20300.4%
Ford Motor Co4.750% 01/15/20430.4%
Matador Resources Co5.875% 09/15/20260.4%
MEG Energy Corp7.125% 02/01/20270.4%
CHS/Community Health Systems Inc4.750% 02/15/20310.4%
Freeport-McMoRan Inc4.250% 03/01/20300.4%
Navient Corp6.750% 06/25/20250.4%
American Airlines Inc11.750% 07/15/20250.4%
EQT Corp6.625% 02/01/20250.4%
Bombardier Inc7.125% 06/15/20260.4%
Murphy Oil Corp5.875% 12/01/20270.4%
Laredo Petroleum Inc10.125% 01/15/20280.3%
Freeport-McMoRan Inc5.250% 09/01/20290.3%
Apache Corp4.375% 10/15/20280.3%
Western Midstream Operating LP5.300% 02/01/20300.3%
Synovus Financial Corp5.900% 02/07/20290.3%
Bath & Body Works Inc6.875% 11/01/20350.3%
FMG Resources August 2006 Pty Ltd4.500% 09/15/20270.3%
Tesla Inc2.000% 05/15/20240.3%
Crowdstrike Holdings Inc3.000% 02/15/20290.3%
Virgin Media Secured Finance PLC5.500% 05/15/20290.3%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.250% 05/15/20270.3%
Newell Brands Inc5.875% 04/01/20360.3%
Tenet Healthcare Corp6.125% 10/01/20280.3%
Centene Corp2.500% 03/01/20310.3%
Twilio Inc3.625% 03/15/20290.3%
CHS/Community Health Systems Inc6.125% 04/01/20300.3%
Toll Brothers Finance Corp4.350% 02/15/20280.3%
Coinbase Global Inc3.625% 10/01/20310.3%
Party City Holdings Inc8.750% 02/15/20260.3%
GS Mortgage Securities Corp Trust 2021-ROSS MZ9.590% 06/15/20260.3%
Mohegan Gaming & Entertainment8.000% 02/01/20260.3%
XPO CNW Inc6.700% 05/01/20340.3%
Alpha Metallurgical Resources Inc10.000% 06/14/20240.3%
Carnival Corp4.000% 08/01/20280.3%
Peabody Energy Corp2.842% 03/31/20250.3%
LBM Acquisition LLC6.250% 01/15/20290.3%
TransDigm Inc5.500% 11/15/20270.3%
CIT Group Inc6.125% 03/09/20280.3%
Callon Petroleum Co9.000% 04/01/20250.3%
DIRECT CHASSISLINK INC6.874% 04/10/20260.3%
Builders FirstSource Inc4.250% 02/01/20320.3%
ON Semiconductor Corp3.875% 09/01/20280.3%
Uber Technologies Inc4.500% 08/15/20290.3%
Continental Resources Inc/OK5.750% 01/15/20310.3%
Apache Corp4.750% 04/15/20430.2%
Royal Caribbean Cruises Ltd3.700% 03/15/20280.2%
Ovintiv Inc6.500% 08/15/20340.2%
Ball Corp2.875% 08/15/20300.2%
Occidental Petroleum Corp3.500% 08/15/20290.2%
Michaels Cos Inc/The7.875% 05/01/20290.2%
Ovintiv Inc6.500% 02/01/20380.2%
HCA Inc5.875% 02/01/20290.2%
Clear Channel Outdoor Holdings Inc7.750% 04/15/20280.2%
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp4.250% 02/01/20270.2%
Southwestern Energy Co8.375% 09/15/20280.2%
Victors Merger Corp6.375% 05/15/20290.2%
PBF Holding Co LLC / PBF Finance Corp9.250% 05/15/20250.2%
Great Wolf Trust 2019-WOLF2.822% 12/15/20360.2%
Pattern Energy Operations LP / Pattern Energy Operations Inc4.500% 08/15/20280.2%
Centene Corp3.000% 10/15/20300.2%
Centene Corp3.375% 02/15/20300.2%
Warrior Met Coal Inc8.000% 11/01/20240.2%
Tianqi Finco Co Ltd3.750% 11/28/20220.2%
Churchill Downs Inc4.750% 01/15/20280.2%
Air Methods Corp8.000% 05/15/20250.2%
Colgate Energy Partners III LLC5.875% 07/01/20290.2%
Oceaneering International Inc6.000% 02/01/20280.2%
Full House Resorts Inc8.250% 02/15/20280.2%
Aethon United BR LP / Aethon United Finance Corp8.250% 02/15/20260.2%
Encino Acquisition Partners Holdings LLC8.500% 05/01/20280.2%
Molina Healthcare Inc3.875% 11/15/20300.2%
Apache Corp5.100% 09/01/20400.2%
Occidental Petroleum Corp6.450% 09/15/20360.2%
Fontainebleau Miami Beach Trust 2019-FBLU4.095% 12/10/20360.2%
Buckeye Partners LP6.375% 01/22/20780.2%
United States Steel Corp6.875% 03/01/20290.2%
Buena Vista Gaming Authority13.000% 04/01/20230.2%
Peabody Energy Corp6.375% 03/31/20250.2%
SEB Funding LLC4.969% 01/30/20520.2%
Centene Corp4.625% 12/15/20290.2%
Netflix Inc3.625% 06/15/20300.2%
American Airlines Group Inc3.750% 03/01/20250.2%
Gulfport Energy Operating Corp8.000% 05/17/20260.2%
Vertiv Group Corp4.125% 11/15/20280.2%
Coeur Mining Inc5.125% 02/15/20290.2%
SM Energy Co6.750% 09/15/20260.2%
OneMain Finance Corp5.375% 11/15/20290.2%
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC3.500% 03/15/20290.2%
Stonegate Pub Co Financing 2019 PLC8.250% 07/31/20250.2%
United States Steel Corp6.650% 06/01/20370.2%
Crocs Inc4.250% 03/15/20290.2%
Bombardier Inc6.000% 02/15/20280.2%
National CineMedia LLC5.875% 04/15/20280.2%
Vedanta Resources Finance II PLC8.950% 03/11/20250.2%
CSMC 2021-BPNY3.804% 08/15/20230.2%
California Resources Corp7.125% 02/01/20260.2%
TK Elevator US Newco Inc5.250% 07/15/20270.2%
Air Canada3.875% 08/15/20260.2%
Texas Capital Bancshares Inc4.000% 05/06/20310.2%
Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp6.000% 08/01/20260.2%
PHH Mortgage Corp7.875% 03/15/20260.2%
Real Hero Merger Sub 2 Inc6.250% 02/01/20290.2%
Fortress Transportation and Infrastructure Investors LLC5.500% 05/01/20280.2%
Match Group Holdings II LLC4.125% 08/01/20300.2%
Sealed Air Corp6.875% 07/15/20330.2%
Atkore Inc4.250% 06/01/20310.2%
Callon Petroleum Co8.000% 08/01/20280.2%
Viper Energy Partners LP5.375% 11/01/20270.2%
Madison IAQ LLC5.875% 06/30/20290.2%
Apollo Commercial Real Estate Finance Inc4.625% 06/15/20290.2%
Braskem Idesa SAPI7.450% 11/15/20290.2%
Life Time Inc5.750% 01/15/20260.2%
Ford Motor Co3.250% 02/12/20320.2%
Hawaiian Brand Intellectual Property Ltd / HawaiianMiles Loyalty Ltd5.750% 01/20/20260.2%
JP Morgan Chase Commercial Mortgage Securities Trust 2021-14403.940% 03/15/20360.2%
Northriver Midstream Finance LP5.625% 02/15/20260.2%
Range Resources Corp4.875% 05/15/20250.2%
Limak Iskenderun Uluslararasi Liman Isletmeciligi AS9.500% 07/10/20360.2%
Carnival Corp9.875% 08/01/20270.2%
Alcoa Nederland Holding BV4.125% 03/31/20290.2%
MSCI Inc3.875% 02/15/20310.2%
LogMeIn Inc5.500% 09/01/20270.2%
Switch Ltd3.750% 09/15/20280.2%
Centennial Resource Production LLC6.875% 04/01/20270.2%
Seaspan Corp5.500% 08/01/20290.2%
MSCI Inc3.250% 08/15/20330.2%
MEG Energy Corp5.875% 02/01/20290.2%
Coronado Finance Pty Ltd10.750% 05/15/20260.2%
Endeavor Energy Resources LP / EER Finance Inc5.750% 01/30/20280.2%
Topgolf International Inc7.000% 02/09/20260.2%
SCIH Salt Holdings Inc6.625% 05/01/20290.2%
Travel + Leisure Co6.625% 07/31/20260.2%
Sylvamo Corp7.000% 09/01/20290.2%
SRS Distribution Inc6.000% 12/01/20290.2%
SWF Escrow Issuer Corp6.500% 10/01/20290.2%
Ally Financial Inc4.700% 08/15/21700.2%
Apache Corp4.625% 11/15/20250.2%
Resideo Funding Inc4.000% 09/01/20290.2%
ROBLOX Corp3.875% 05/01/20300.2%
Midcap Financial Issuer Trust6.500% 05/01/20280.2%
BFLD 2019-DPLO2.630% 10/15/20340.2%
THINK + LEARN PRIVATE LIMITED0.000% 11/05/20260.2%
Affinity Gaming6.875% 12/15/20270.2%
TerraForm Power Operating LLC4.750% 01/15/20300.2%
CQP Holdco LP / BIP-V Chinook Holdco LLC5.500% 06/15/20310.2%
Mueller Water Products Inc4.000% 06/15/20290.2%
Twilio Inc3.875% 03/15/20310.2%
Guitar Center Inc8.500% 01/15/20260.2%
HAT Holdings I LLC / HAT Holdings II LLC3.375% 06/15/20260.2%
Ardonagh Midco 2 PLC11.500% 01/15/20270.2%
Belo Corp7.250% 09/15/20270.2%
Radiology Partners Inc9.250% 02/01/20280.2%
OCP CLO 2021-21 Ltd3.082% 07/20/20340.2%
Park River Holdings Inc6.750% 08/01/20290.2%
Kosmos Energy Ltd7.500% 03/01/20280.2%
MercadoLibre Inc2.375% 01/14/20260.2%
Wabash National Corp4.500% 10/15/20280.2%
Patterson-UTI Energy Inc3.950% 02/01/20280.2%
Northwest Fiber LLC / Northwest Fiber Finance Sub Inc10.750% 06/01/20280.2%
HAT Holdings I LLC / HAT Holdings II LLC3.750% 09/15/20300.2%
Catalent Pharma Solutions Inc3.500% 04/01/20300.2%
Comstock Resources Inc5.875% 01/15/20300.2%
Hunt Cos Inc5.250% 04/15/20290.2%
Nabors Industries Ltd7.250% 01/15/20260.2%
Live Nation Entertainment Inc3.750% 01/15/20280.2%
Buckeye Partners LP3.950% 12/01/20260.2%
EQT Corp7.500% 02/01/20300.2%
Compass Minerals International Inc6.750% 12/01/20270.2%
Canary Wharf Group Investment Holdings PLC3.375% 04/23/20280.2%
Golden Goose SpA4.875% 05/14/20270.2%
Ulker Biskuvi Sanayi AS6.950% 10/30/20250.2%
Tri Pointe Homes Inc5.250% 06/01/20270.2%
Texas Capital Bank NA5.250% 01/31/20260.2%
Perimeter Master Note Business Trust5.190% 05/15/20270.2%
Triumph Group Inc7.750% 08/15/20250.2%
BEP Ulterra Holdings Inc5.340% 11/26/20250.2%
CVR Partners LP / CVR Nitrogen Finance Corp6.125% 06/15/20280.2%
THE ENTERPRISE DEVLOPMT ATHRTY5.000% 02/18/20280.2%
Weatherford International Ltd8.625% 04/30/20300.2%
Foot Locker Inc4.000% 10/01/20290.2%
Intertape Polymer Group Inc4.375% 06/15/20290.2%
LUCID ENRGY GRP II BORWR LLC0.000% 11/24/20280.2%
AMMC CLO 24 Ltd6.743% 01/20/20350.2%
Southwestern Energy Co5.375% 02/01/20290.2%
Navient Corp6.750% 06/15/20260.2%
CARLYLE US CLO 2021-4 LTD6.732% 04/20/20340.2%
Civitas Resources Inc5.000% 10/15/20260.2%
Southwestern Energy Co6.450% 01/23/20250.2%
Charles River Laboratories International Inc4.250% 05/01/20280.2%
Red Planet Borrower LLC4.250% 10/02/20280.2%
AG Issuer LLC6.250% 03/01/20280.2%
International Game Technology PLC5.250% 01/15/20290.2%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.2%
Aston Martin Capital Holdings Ltd10.500% 11/30/20250.2%
ASP Unifrax Holdings Inc3.882% 12/12/20250.2%
Credit Suisse Group AG7.250% 03/12/21700.2%
Sabre GLBL Inc9.250% 04/15/20250.2%
FX USD/EUR 12/210.000% 12/10/20210.2%
Armor Holdco Inc8.500% 11/15/20290.2%
VistaJet Malta Finance PLC / XO Management Holding Inc10.500% 06/01/20240.2%
Square Inc3.500% 06/01/20310.2%
MND Holdings III Corp4.500% 06/19/20240.2%
Anastasia Parent LLC3.882% 08/11/20250.2%
Papa John's International Inc3.875% 09/15/20290.2%
Bellis Finco PLC4.000% 02/16/20270.2%
Cinemark USA Inc5.250% 07/15/20280.2%
Tenneco Inc5.000% 07/15/20260.2%
Hertz Corp/The5.000% 12/01/20290.2%
NextEra Energy Operating Partners LP4.500% 09/15/20270.2%
Park River Holdings Inc5.625% 02/01/20290.2%
Unifrax Escrow Issuer Corp7.500% 09/30/20290.2%
Levi Strauss & Co3.500% 03/01/20310.2%
HCA Inc5.500% 06/15/20470.2%
XHR LP4.875% 06/01/20290.2%
Cedar Fair LP5.250% 07/15/20290.2%
Synaptics Inc4.000% 06/15/20290.2%
Novelis Corp3.875% 08/15/20310.2%
Pactiv LLC7.950% 12/15/20250.2%
Freeport-McMoRan Inc5.450% 03/15/20430.2%
LSF11 A5 HoldCo LLC6.625% 10/15/20290.2%
IIP Operating Partnership LP5.500% 05/25/20260.2%
Ingles Markets Inc4.000% 06/15/20310.2%
Precision Drilling Corp7.125% 01/15/20260.2%
Forestar Group Inc5.000% 03/01/20280.2%
Cenovus Energy Inc5.400% 06/15/20470.2%
Advanced Micro Devices Inc0.000% -0.2%
SeaWorld Parks & Entertainment Inc5.250% 08/15/20290.2%
Entegris Inc3.625% 05/01/20290.2%
Bristow Group Inc6.875% 03/01/20280.2%
Hecla Mining Co7.250% 02/15/20280.2%
Mattel Inc5.450% 11/01/20410.2%
Neuberger Berman Loan Advisers CLO 45 Ltd3.160% 10/14/20350.2%
Calpine Corp5.000% 02/01/20310.2%
Independence Energy Finance LLC7.250% 05/01/20260.2%
Pike Corp5.500% 09/01/20280.1%
BlueLinx Holdings Inc6.000% 11/15/20290.1%
Oasis Midstream Partners LP / OMP Finance Corp8.000% 04/01/20290.1%
Ingevity Corp3.875% 11/01/20280.1%
Victoria's Secret & Co4.625% 07/15/20290.1%
Mong Duong Finance Holdings BV5.125% 05/07/20290.1%
H&E Equipment Services Inc3.875% 12/15/20280.1%
Acadia Healthcare Co Inc5.000% 04/15/20290.1%
Triton Water Holdings Inc6.250% 04/01/20290.1%
Carriage Purchaser Inc7.875% 10/15/20290.1%
Oasis Petroleum Inc6.375% 06/01/20260.1%
TransDigm Inc4.625% 01/15/20290.1%
Resorts World Las Vegas LLC / RWLV Capital Inc4.625% 04/06/20310.1%
Dycom Industries Inc4.500% 04/15/20290.1%
Compass Group Diversified Holdings LLC5.250% 04/15/20290.1%
MHP Lux SA6.250% 09/19/20290.1%
PetSmart Inc / PetSmart Finance Corp4.750% 02/15/20280.1%
SVB Financial Group4.250% 02/15/21700.1%
MC Brazil Downstream Trading SARL7.250% 06/30/20310.1%
Frontier Communications Holdings LLC5.875% 10/15/20270.1%
TransJamaican Highway Ltd5.750% 10/10/20360.1%
NMG Holding Co Inc / Neiman Marcus Group LLC7.125% 04/01/20260.1%
Playtika Holding Corp4.250% 03/15/20290.1%
Talen Energy Supply LLC6.500% 06/01/20250.1%
Shopify Inc0.125% 11/01/20250.1%
SierraCol Energy Andina LLC6.000% 06/15/20280.1%
Rockcliff Energy II LLC5.500% 10/15/20290.1%
Hilcorp Energy I LP / Hilcorp Finance Co6.250% 11/01/20280.1%
LCM Investments Holdings II LLC4.875% 05/01/20290.1%
Gray Escrow II Inc5.375% 11/15/20310.1%
Laredo Petroleum Inc7.750% 07/31/20290.1%
Hudbay Minerals Inc4.500% 04/01/20260.1%
MGM Resorts International5.500% 04/15/20270.1%
Staples Inc10.750% 04/15/20270.1%
MGM Resorts International4.625% 09/01/20260.1%
WMG Acquisition Corp3.750% 12/01/20290.1%
Vista Outdoor Inc4.500% 03/15/20290.1%
Coinbase Global Inc3.375% 10/01/20280.1%
Transocean Guardian Ltd5.875% 01/15/20240.1%
Nabors Industries Inc5.750% 02/01/20250.1%
Hudbay Minerals Inc6.125% 04/01/20290.1%
Bath & Body Works Inc6.625% 10/01/20300.1%
Rent-A-Center Inc/TX6.375% 02/15/20290.1%
SCF Preferred Equity LLC7.500% 10/16/21700.1%
Party City Holdings Inc6.625% 08/01/20260.1%
OCP CLO 2021-22 Ltd3.273% 12/02/20340.1%
Tullow Oil PLC10.250% 05/15/20260.1%
VICI Properties LP / VICI Note Co Inc4.125% 08/15/20300.1%
BCP Raptor II LLC4.840% 11/03/20250.1%
Great Lakes Dredge & Dock Corp5.250% 06/01/20290.1%
Port of Newcastle Investments Financing Pty Ltd5.900% 11/24/20310.1%
Buckeye Partners LP4.125% 12/01/20270.1%
Macquarie Bank Ltd/London6.125% 09/08/21700.1%
Compass Minerals International Inc4.875% 07/15/20240.1%
Trinseo Materials Operating SCA / Trinseo Materials Finance Inc5.125% 04/01/20290.1%
Alta Equipment Group Inc5.625% 04/15/20260.1%
Alcoa Nederland Holding BV5.500% 12/15/20270.1%
Jefferson Capital Holdings LLC6.000% 08/15/20260.1%
Chemours Co/The5.375% 05/15/20270.1%
PetSmart Inc / PetSmart Finance Corp7.750% 02/15/20290.1%
Netflix Inc3.625% 05/15/20270.1%
Global Atlantic Fin Co4.700% 10/15/20510.1%
Lions Gate Capital Holdings LLC5.500% 04/15/20290.1%
Occidental Petroleum Corp4.100% 02/15/20470.1%
Colgate Energy Partners III LLC7.750% 02/15/20260.1%
Dana Inc4.250% 09/01/20300.1%
Wendy's International LLC7.000% 12/15/20250.1%
Macy's Retail Holdings LLC5.875% 04/01/20290.1%
Bahamas Government International Bond8.950% 10/15/20320.1%
Genting New York LLC / GENNY Capital Inc3.300% 02/15/20260.1%
Weatherford International Ltd6.500% 09/15/20280.1%
Ahern Rentals Inc7.375% 05/15/20230.1%
Carriage Purchaser Inc5.000% 09/30/20280.1%
Macy's Retail Holdings LLC4.500% 12/15/20340.1%
Comstock Resources Inc6.750% 03/01/20290.1%
Advisor Group Holdings Inc10.750% 08/01/20270.1%
Magenta Buyer LLC5.750% 07/27/20280.1%
Investment Energy Resources Ltd6.250% 04/26/20290.1%
Range Resources Corp8.250% 01/15/20290.1%
Carvana Co5.500% 04/15/20270.1%
Compass Group Diversified Holdings LLC5.000% 01/15/20320.1%
Jane Street Group / JSG Finance Inc4.500% 11/15/20290.1%
EQT Corp5.000% 01/15/20290.1%
Sunnova Energy Corp5.875% 09/01/20260.1%
Option Care Health Inc4.375% 10/31/20290.1%
Robertshaw US Holding Corp4.500% 02/28/20250.1%
APi Escrow Corp4.750% 10/15/20290.1%
Pinnacle Bidco PLC6.375% 02/15/20250.1%
Logan Group Co Ltd4.500% 01/13/20280.1%
Murphy Oil USA Inc4.750% 09/15/20290.1%
Austin BidCo Inc7.125% 12/15/20280.1%
US Acute Care Solutions LLC6.375% 03/01/20260.1%
Solaris Midstream Holdings LLC7.625% 04/01/20260.1%
SM Energy Co5.625% 06/01/20250.1%
SM Energy Co6.625% 01/15/20270.1%
Callon Petroleum Co6.375% 07/01/20260.1%
NOVA Chemicals Corp4.250% 05/15/20290.1%
GIBSON BRANDS PRIVATE EQUITY0.000% -0.1%
Windstream Escrow LLC / Windstream Escrow Finance Corp7.750% 08/15/20280.1%
Promontoria Holding 264 BV6.750% 08/15/20230.1%
Air Lease Corp4.650% 06/15/21700.1%
ECL ENTERTAINMENT LLC8.250% 03/31/20280.1%
Hilcorp Energy I LP / Hilcorp Finance Co5.750% 02/01/20290.1%
Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp4.875% 05/01/20290.1%
Arcosa Inc4.375% 04/15/20290.1%
CrownRock LP / CrownRock Finance Inc5.000% 05/01/20290.1%
Jaguar Land Rover Automotive PLC4.500% 10/01/20270.1%
IMA Industria Macchine Automatiche SpA3.750% 01/15/20280.1%
Live Nation Entertainment Inc4.750% 10/15/20270.1%
SEG Holding LLC / SEG Finance Corp5.625% 10/15/20280.1%
CNX Resources Corp6.000% 01/15/20290.1%
Carnival Corp5.750% 03/01/20270.1%
Murphy Oil Corp6.375% 07/15/20280.1%
Hilcorp Energy I LP / Hilcorp Finance Co6.000% 02/01/20310.1%
TMS International Corp/DE6.250% 04/15/20290.1%
Weekley Homes LLC / Weekley Finance Corp4.875% 09/15/20280.1%
Signa Development Finance SCS5.500% 07/23/20260.1%
Insulet Corp3.750% 05/04/20280.1%
Resolute Forest Products Inc4.875% 03/01/20260.1%
Spirit Loyalty Cayman Ltd / Spirit IP Cayman Ltd8.000% 09/20/20250.1%
Audacy Capital Corp6.500% 05/01/20270.1%
Delta Topco Inc8.000% 12/01/20280.1%
Tri Pointe Homes Inc5.700% 06/15/20280.1%
Boyd Gaming Corp4.750% 12/01/20270.1%
Brookfield Residential Properties Inc / Brookfield Residential US LLC4.875% 02/15/20300.1%
New Home Co Inc/The7.250% 10/15/20250.1%
Renewable Energy Group Inc5.875% 06/01/20280.1%
Scientific Games International Inc7.250% 11/15/20290.1%
Uber Technologies Inc6.250% 01/15/20280.1%
Raptor Acquisition Corp / Raptor Co-Issuer LLC4.875% 11/01/20260.1%
iHeartCommunications Inc4.750% 01/15/20280.1%
Meritor Inc4.500% 12/15/20280.1%
Warrior Met Coal Inc7.875% 12/01/20280.1%
Science Applications International Corp4.875% 04/01/20280.1%
Energy Acquisition Co Inc4.349% 06/26/20250.1%
White Cap Buyer LLC6.875% 10/15/20280.1%
Midas OpCo Holdings LLC5.625% 08/15/20290.1%
BCPE Empire Holdings Inc7.625% 05/01/20270.1%
Chobani LLC / Chobani Finance Corp Inc4.625% 11/15/20280.1%
Ken Garff Automotive LLC4.875% 09/15/20280.1%
Arconic Corp6.125% 02/15/20280.1%
Antero Resources Corp7.625% 02/01/20290.1%
Punch Finance PLC6.125% 06/30/20260.1%
Yum! Brands Inc5.350% 11/01/20430.1%
Energy Transfer LP6.500% 11/15/21700.1%
Century Aluminum Co7.500% 04/01/20280.1%
Torrid LLC6.250% 05/19/20280.1%
Allison Transmission Inc3.750% 01/30/20310.1%
GPS Hospitality Holding Co LLC / GPS Finco Inc7.000% 08/15/20280.1%
Group 1 Automotive Inc4.000% 08/15/20280.1%
Prime Security Services Borrower LLC / Prime Finance Inc3.375% 08/31/20270.1%
Cheniere Energy Partners LP3.250% 01/31/20320.1%
Peninsula Pacific Entertainment LLC / Peninsula Pacific Entertainment Finance In8.500% 11/15/20270.1%
COBHAM ULTRA SENIORCO SARL0.000% 11/16/20280.1%
CEC Entertainment LLC6.750% 05/01/20260.1%
Taseko Mines Ltd7.000% 02/15/20260.1%
LFS Topco LLC5.875% 10/15/20260.1%
Ashland LLC6.875% 05/15/20430.1%
Sri Lanka Government International Bond5.875% 07/25/20220.1%
WP CPP Holdings LLC4.750% 04/30/20250.1%
LSB Industries Inc6.250% 10/15/20280.1%
Charles River Laboratories International Inc4.000% 03/15/20310.1%
US Renal Care Inc10.625% 07/15/20270.1%
JSW Hydro Energy Ltd4.125% 05/18/20310.1%
SPCM SA3.375% 03/15/20300.1%
ARMOR HOLDING II LLC0.000% 10/29/20280.1%
Medco Laurel Tree Pte Ltd6.950% 11/12/20280.1%
Crocs Inc4.125% 08/15/20310.1%
Minerals Technologies Inc5.000% 07/01/20280.1%
Cross Country Healthcare Inc0.000% -0.1%
Cable One Inc4.000% 11/15/20300.1%
Radiate Holdco LLC / Radiate Finance Inc4.500% 09/15/20260.1%
USIC Holdings Inc7.250% 05/07/20290.1%
Clear Channel Outdoor Holdings Inc7.500% 06/01/20290.1%
Associated Asphalt Partners LLC6.250% 04/05/20240.1%
Oceaneering International Inc4.650% 11/15/20240.1%
Owens & Minor Inc4.500% 03/31/20290.1%
EverArc Escrow Sarl5.000% 10/30/20290.1%
Claros Mortgage Trust Inc6.000% 08/09/20260.1%
Elastic NV4.125% 07/15/20290.1%
Sweetwater Borrower LLC5.500% 08/07/20280.1%
Delek Logistics Partners LP / Delek Logistics Finance Corp7.125% 06/01/20280.1%
Caesars Entertainment Inc4.625% 10/15/20290.1%
Summer BC Holdco A Sarl9.250% 10/31/20270.1%
Murphy Oil USA Inc3.750% 02/15/20310.1%
ZoomInfo Technologies LLC/ZoomInfo Finance Corp3.875% 02/01/20290.1%
Curo Group Holdings Corp7.500% 08/01/20280.1%
Empresa Generadora de Electricidad Haina SA5.625% 11/08/20280.1%
Antero Midstream Partners LP / Antero Midstream Finance Corp5.375% 06/15/20290.1%
Aircastle Ltd5.250% 09/15/21700.1%
AMC Entertainment Holdings Inc12.000% 06/15/20260.1%
PeopleCert Wisdom Issuer PLC5.750% 09/15/20260.1%
Minsur SA4.500% 10/28/20310.1%
Empire Resorts Inc7.750% 11/01/20260.1%
ATS Automation Tooling Systems Inc4.125% 12/15/20280.1%
Aegion Corp5.500% 05/17/20280.1%
Freeport LNG Investments LLLP0.000% 11/17/20280.1%
SunCoke Energy Inc4.875% 06/30/20290.1%
Nationstar Mortgage Holdings Inc5.500% 08/15/20280.1%
Central Garden & Pet Co4.125% 10/15/20300.1%
Shea Homes LP / Shea Homes Funding Corp4.750% 04/01/20290.1%
Team Health Holdings Inc6.375% 02/01/20250.1%
Fair Isaac Corp4.000% 06/15/20280.1%
PGT Innovations Inc4.375% 10/01/20290.1%
Hilton Domestic Operating Co Inc4.875% 01/15/20300.1%
Electron Bidco Inc3.750% 11/01/20280.1%
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp4.750% 06/15/20290.1%
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc5.000% 06/01/20290.1%
BANFF MERGER SUB INC6.000% 02/27/20260.1%
Dornoch Debt Merger Sub Inc6.625% 10/15/20290.1%
Plains All American Pipeline LP6.125% 11/15/21700.1%
Connect Finco SARL / Connect US Finco LLC6.750% 10/01/20260.1%
Cushman & Wakefield US Borrower LLC6.750% 05/15/20280.1%
Goodyear Tire & Rubber Co/The4.875% 03/15/20270.1%
HubSpot Inc0.375% 06/01/20250.1%
Legacy LifePoint Health LLC4.375% 02/15/20270.1%
NESCO Holdings II Inc5.500% 04/15/20290.1%
Targa Resources Partners LP / Targa Resources Partners Finance Corp4.875% 02/01/20310.1%
Country Garden Holdings Co Ltd4.800% 08/06/20300.1%
Kennedy-Wilson Inc5.000% 03/01/20310.1%
AMC Entertainment Holdings Inc3.090% 04/22/20260.1%
Diamondback Energy Inc3.500% 12/01/20290.1%
Foundation Building Materials Inc6.000% 03/01/20290.1%
Avaya Inc6.125% 09/15/20280.1%
Rackspace Technology Global Inc5.375% 12/01/20280.1%
Spring Education Group Inc4.382% 07/30/20250.1%
Tractor Supply Co0.000% -0.1%
Valvoline Inc4.250% 02/15/20300.1%
IEA Energy Services LLC6.625% 08/15/20290.1%
ROBLOX Corp0.000% -0.1%
SRM Escrow Issuer LLC6.000% 11/01/20280.1%
Western Midstream Operating LP6.500% 02/01/20500.1%
Everi Holdings Inc5.000% 07/15/20290.1%
Roller Bearing Co of America Inc4.375% 10/15/20290.1%
Arches Buyer Inc6.125% 12/01/20280.1%
Precision Drilling Corp6.875% 01/15/20290.1%
B&G Foods Inc0.000% -0.1%
Albertsons Cos Inc0.000% -0.1%
AppLovin Corp0.000% 10/25/20280.1%
Esdec Solar Group BV5.750% 08/30/20280.1%
AHP Health Partners Inc5.750% 07/15/20290.1%
United Natural Foods Inc0.000% -0.1%
Lithia Motors Inc3.875% 06/01/20290.1%
Unifrax Escrow Issuer Corp5.250% 09/30/20280.1%
Old Dominion Freight Line Inc0.000% -0.1%
Royal Caribbean Cruises Ltd9.125% 06/15/20230.1%
Bill.com Holdings Inc0.000% 04/01/20270.1%
City Football Group Ltd4.000% 07/21/20280.1%
MEDASSETS SFWR INMT HLNG INC0.000% 11/17/20280.1%
Medical Solutions Holdings Inc4.000% 11/01/20280.1%
Trex Co Inc0.000% -0.1%
CNX Midstream Partners LP4.750% 04/15/20300.1%
Frontier Communications Holdings LLC6.000% 01/15/20300.1%
Brazos Delaware II LLC4.091% 05/21/20250.1%
Turning Point Brands Inc5.625% 02/15/20260.1%
Caesars Entertainment Inc8.125% 07/01/20270.1%
PRA Group Inc5.000% 10/01/20290.1%
FactSet Research Systems Inc0.000% -0.1%
APi Group DE Inc4.125% 07/15/20290.1%
Illuminate Buyer LLC / Illuminate Holdings IV Inc9.000% 07/01/20280.1%
MasTec Inc4.500% 08/15/20280.1%
Pathway Vet Alliance LLC3.840% 03/31/20270.1%
CSN Resources SA4.625% 06/10/20310.1%
Livent Corp4.125% 07/15/20250.1%
Metis Merger Sub LLC6.500% 05/15/20290.1%
AMC Networks Inc4.250% 02/15/20290.1%
Urban One Inc7.375% 02/01/20280.1%
Castle US Holding Corp9.500% 02/15/20280.1%
John Bean Technologies Corp0.250% 05/15/20260.1%
Leeward Renewable Energy Operations LLC4.250% 07/01/20290.1%
Sugarhouse HSP Gaming Prop Mezz LP / Sugarhouse HSP Gaming Finance Corp5.875% 05/15/20250.1%
Legends Hospitality Holding Co LLC / Legends Hospitality Co-Issuer Inc5.000% 02/01/20260.1%
Lululemon Athletica Inc0.000% -0.1%
Upstart Holdings Inc0.250% 08/15/20260.1%
ModivCare Escrow Issuer Inc5.000% 10/01/20290.1%
TTM Technologies Inc4.000% 03/01/20290.1%
Fox Factory Holding Corp0.000% -0.1%
Synaptics Inc0.000% -0.1%
Grab Holdings Inc5.500% 01/29/20260.1%
Metropolitan Bank Holding Corp0.000% -0.1%
Brundage-Bone Concrete Pumping Holdings Inc6.000% 02/01/20260.1%
Hightower Holding LLC6.750% 04/15/20290.1%
Installed Building Products Inc5.750% 02/01/20280.1%
ASML Holding NV0.000% -0.1%
180 Medical Inc3.875% 10/15/20290.1%
Element Solutions Inc3.875% 09/01/20280.1%
Block Communications Inc4.875% 03/01/20280.1%
Outfront Media Capital LLC / Outfront Media Capital Corp4.250% 01/15/20290.1%
TK Elevator Holdco GmbH7.625% 07/15/20280.1%
Trade Desk Inc/The0.000% -0.1%
Amsted Industries Inc4.625% 05/15/20300.1%
EnerSys4.375% 12/15/20270.1%
AMN Healthcare Inc4.000% 04/15/20290.1%
Navient Corp6.125% 03/25/20240.1%
Vail Resorts Inc0.000% 01/01/20260.1%
Wolverine World Wide Inc4.000% 08/15/20290.1%
Jerrold Finco PLC5.250% 01/15/20270.1%
Illinois Tool Works Inc0.000% -0.1%
Canacol Energy Ltd5.750% 11/24/20280.1%
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer5.875% 10/01/20280.1%
Hershey Co/The0.000% -0.1%
Indika Energy Capital IV Pte Ltd8.250% 10/22/20250.1%
Spectacle Gary Holdings LLC11.000% 12/23/20250.1%
Frontier Communications Holdings LLC6.750% 05/01/20290.1%
Ahead DB Holdings LLC6.625% 05/01/20280.1%
Arista Networks Inc0.000% -0.1%
Atlassian Corp PLC0.000% -0.1%
Cloudflare Inc0.000% 08/15/20260.1%
FMG Resources August 2006 Pty Ltd4.375% 04/01/20310.1%
Murphy USA Inc0.000% -0.1%
Watco Cos LLC / Watco Finance Corp6.500% 06/15/20270.1%
GrubHub Holdings Inc5.500% 07/01/20270.1%
New Relic Inc0.500% 05/01/20230.1%
Merlin Entertainments Ltd5.750% 06/15/20260.1%
Nabors Industries Inc7.375% 05/15/20270.1%
Berry Petroleum Co LLC7.000% 02/15/20260.1%
BK LC Lux Finco1 Sarl5.250% 04/30/20290.1%
Airbnb Inc0.000% 03/15/20260.1%
Azul Investments LLP7.250% 06/15/20260.1%
Dexcom Inc0.750% 12/01/20230.1%
Ford Motor Co0.000% -0.1%
Ameresco Inc0.000% -0.1%
NSG Holdings LLC / NSG Holdings Inc7.750% 12/15/20250.1%
BCPE Ulysses Intermediate Inc7.750% 04/01/20270.1%
Forestar Group Inc3.850% 05/15/20260.1%
Atlas Air Worldwide Holdings Inc1.875% 06/01/20240.1%
Radiate Holdco LLC / Radiate Finance Inc6.500% 09/15/20280.1%
Ford Motor Credit Co LLC4.000% 11/13/20300.1%
IIP Operating Partnership LP3.750% 02/21/20240.1%
Gap Inc/The3.875% 10/01/20310.1%
Rede D'or Finance Sarl4.950% 01/17/20280.1%
Vivion Investments Sarl3.000% 08/08/20240.1%
Freeport-McMoRan Inc4.375% 08/01/20280.1%
Western Digital Corp4.750% 02/15/20260.1%
Vmed O2 UK Financing I PLC4.750% 07/15/20310.1%
SolarEdge Technologies Inc0.000% 09/15/20250.1%
CCM Merger Inc6.375% 05/01/20260.1%
Dick's Sporting Goods Inc3.250% 04/15/20250.1%
Antero Midstream Partners LP / Antero Midstream Finance Corp7.875% 05/15/20260.1%
Alloy Finco Ltd0.500% 03/06/20250.1%
Howard Hughes Corp/The5.375% 08/01/20280.1%
Array Technologies Inc3.750% 10/14/20270.1%
Atlanticus Holdings Corp0.000% -0.1%
AVSC Holding Corp0.000% 03/03/20250.1%
CA Magnum Holdings5.375% 10/31/20260.1%
Centennial Resource Production LLC3.250% 04/01/20280.1%
ASR Media and Sponsorship SpA5.125% 08/01/20240.1%
Kontoor Brands Inc4.125% 11/15/20290.1%
USA Compression Partners LP / USA Compression Finance Corp6.875% 09/01/20270.1%
Arena Luxembourg Finance Sarl1.875% 02/01/20280.1%
Canada Goose Holdings Inc0.000% -0.1%
Engineered Components & Systems LLC6.500% 08/02/20280.1%
Venture Global Calcasieu Pass LLC3.875% 11/01/20330.1%
TerraForm Power Operating LLC5.000% 01/31/20280.1%
Coty Inc5.000% 04/15/20260.1%
Allfunds Group Plc0.000% -0.1%
FENDER MSCL INSTMNS CORPTN0.000% 12/01/20280.1%
Nationstar Mortgage Holdings Inc5.125% 12/15/20300.1%
Transportes Aereos Portugueses SA5.625% 12/02/20240.1%
Tenneco Inc5.125% 04/15/20290.1%
Escape Velocity Holdings Inc4.750% 10/08/20280.1%
Shimao Group Holdings Ltd5.200% 01/16/20270.1%
Diamond Sports Group LLC / Diamond Sports Finance Co5.375% 08/15/20260.1%
Boyd Gaming Corp4.750% 06/15/20310.1%
Welltec International ApS8.250% 10/15/20260.1%
Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc3.625% 03/01/20290.1%
NCL Finance Ltd6.125% 03/15/20280.1%
Williams Scotsman International Inc4.625% 08/15/20280.1%
Boyne USA Inc4.750% 05/15/20290.1%
Kennedy-Wilson Inc4.750% 03/01/20290.1%
LSCS HOLDINGS INC.0.000% 11/23/20280.1%
US ULTRA BOND CBT Mar220.000% 03/31/20220.1%
Equinox Holdings Inc10.000% 03/08/20240.1%
CIFC Funding 2021-III Ltd3.124% 07/15/20360.1%
Carvana Co5.875% 10/01/20280.1%
Equinox Holdings Inc4.000% 03/08/20240.1%
Calpine Corp4.625% 02/01/20290.1%
Medco Bell Pte Ltd6.375% 01/30/20270.1%
United Rentals North America Inc4.000% 07/15/20300.1%
Cinemark USA Inc1.850% 03/31/20250.1%
BROOKS AUTOMATION INC0.000% 11/04/20290.1%
NCL Corp Ltd12.250% 05/15/20240.1%
Venture Global Calcasieu Pass LLC4.125% 08/15/20310.1%
WMG Acquisition Corp3.000% 02/15/20310.1%
Cablevision Lightpath LLC5.625% 09/15/20280.1%
Centene Corp2.625% 08/01/20310.1%
WASHINGTON PRIME GROUP LP0.000% 12/30/20210.1%
Venture Global Calcasieu Pass LLC3.875% 08/15/20290.1%
Occidental Petroleum Corp6.625% 09/01/20300.1%
Credit Index Swap1.000% 12/20/20260.1%
Occidental Petroleum Corp4.400% 08/15/20490.1%
Medco Oak Tree Pte Ltd7.375% 05/14/20260.1%
Howard Hughes Corp/The4.125% 02/01/20290.1%
Perimeter Master Note Business Trust8.130% 05/15/20270.1%
Howard Hughes Corp/The4.375% 02/01/20310.1%
US 10YR NOTE (CBT)Mar220.000% 03/31/20220.1%
Callon Petroleum Co6.125% 10/01/20240.1%
Elwood Energy LLC8.159% 07/05/20260.1%
Asbury Automotive Group Inc5.000% 02/15/20320.1%
ECHO GLOBAL LOGISTICS INC4.250% 11/04/20280.1%
Viavi Solutions Inc3.750% 10/01/20290.1%
Avis Budget Car Rental LLC / Avis Budget Finance Inc5.375% 03/01/20290.1%
Antero Resources Corp8.375% 07/15/20260.1%
Lamar Media Corp4.875% 01/15/20290.1%
Occidental Petroleum Corp7.500% 05/01/20310.1%
Claire's Stores Inc6.590% 12/18/20260.1%
Great Wolf Trust 2019-WOLF3.221% 12/15/20360.1%
Refficiency Holdings LLC4.500% 12/16/20270.1%
Pinewood Finance Co Ltd3.625% 11/15/20270.1%
Arcor SAIC6.000% 07/06/20230.1%
Asbury Automotive Group Inc4.625% 11/15/20290.1%
Tap Rock Resources LLC7.000% 10/01/20260.1%
Avis Budget Car Rental LLC / Avis Budget Finance Inc4.750% 04/01/20280.1%
Sonic Automotive Inc4.625% 11/15/20290.1%
Sonic Automotive Inc4.875% 11/15/20310.1%
Staples Inc7.500% 04/15/20260.1%
Vital Farms Inc0.000% -0.1%
Doncasters US LLC8.500% 03/06/20240.1%
Cablevision Lightpath LLC3.875% 09/15/20270.1%
Cullinan Holdco Scsp4.625% 10/15/20260.1%
WASHINGTON PRIME GROUP LP0.000% 12/30/20220.1%
THE ULTIMATE SW GRP INC0.000% 05/03/20270.0%
Gap Inc/The3.625% 10/01/20290.0%
Carvana Co5.625% 10/01/20250.0%
Summer BC Bidco B LLC5.500% 10/31/20260.0%
Cullinan Holdco Scsp4.625% 10/15/20260.0%
Byline Bancorp Inc0.000% -0.0%
Acrisure LLC / Acrisure Finance Inc6.000% 08/01/20290.0%
PeopleCert Wisdom Issuer PLC5.750% 09/15/20260.0%
Hertz Corp/The4.625% 12/01/20260.0%
ACBL HLDG CORP0.000% -0.0%
Mozart Debt Merger Sub Inc0.000% 04/01/20290.0%
William Carter Co/The5.625% 03/15/20270.0%
FX USD/GBP 12/210.000% 12/07/20210.0%
Pinewood Finance Co Ltd3.625% 11/15/20270.0%
Global Medical Response Inc5.250% 03/14/20250.0%
Transportes Aereos Portugueses SA5.625% 12/02/20240.0%
Civitas Resources Inc0.000% -0.0%
CLAIRES HOLDINGS0.000% -0.0%
Washington Prime Group LP0.000% 01/10/20230.0%
Rocket Software Inc6.500% 02/15/20290.0%
UTEX INDUSTRIES0.000% -0.0%
CPI CG Inc8.625% 03/15/20260.0%
ACBL HLDG CORP0.000% -0.0%
TRANS UNION LLC0.000% 11/16/20290.0%
Engineered Components & Systems LLC0.030% 08/02/20280.0%
UC HOLDINGS INC.0.000% -0.0%
CHINOS INTERMEDIATE HLDGS A IN11.000% 09/10/20270.0%
Welltec International ApS8.250% 10/15/20260.0%
Medical Solutions Holdings Inc0.000% 11/01/20280.0%
New Frontera Holdings LLC14.000% 07/28/20260.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
BRITAX CHILD SAFETY INC.0.000% 03/31/20250.0%
MSCI Inc3.625% 11/01/20310.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Commercial Mortgage Backed Index Swap3.000% 11/17/20590.0%
Refficiency Holdings LLC0.040% 12/31/20270.0%
CHINOS INTERMEDIATE 2 LLC0.000% -0.0%
Commercial Mortgage Backed Index Swap3.000% 11/17/20590.0%
New Frontera Holdings LLC2.500% 07/28/20280.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Joseph T Ryerson & Son Inc8.500% 08/01/20280.0%
Commercial Mortgage Backed Index Swap3.000% 11/17/20590.0%
ACBL HLDG CORP0.000% -0.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Spectacle Gary Holdings LLC0.110% 12/23/20250.0%
Commercial Mortgage Backed Index Swap3.000% 11/17/20590.0%
ESC 144A HERTZ CORP0.000% 01/15/20280.0%
Commercial Mortgage Backed Index Swap3.000% 11/17/20590.0%
CHINOS INTERMEDIATE 2 LLC0.000% -0.0%
Navient Corp5.000% 03/15/20270.0%
UTEX INDUSTRIES INC5.250% 12/03/20250.0%
Commercial Mortgage Backed Index Swap3.000% 11/17/20590.0%
UTEX INDUSTRIES INC8.500% 12/03/20250.0%
Credit Default Swap1.000% 12/20/20260.0%
TNT CRANE AND RIGGING0.000% -0.0%
Commercial Mortgage Backed Index Swap3.000% 11/17/20590.0%
Commercial Mortgage Backed Index Swap3.000% 11/17/20590.0%
Commercial Mortgage Backed Index Swap3.000% 11/17/20590.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
FRONTERA GENERATION0.000% -0.0%
SABLE PERMIAN RESOURCES WARR0.000% -0.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
US LONG BOND(CBT) Mar220.000% 03/31/20220.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
REVLON ROLL UP0.000% -0.0%
Commercial Mortgage Backed Index Swap3.000% 11/17/20590.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Commercial Mortgage Backed Index Swap3.000% 11/17/20590.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
FGI Operating Co LLC10.132% 05/16/20220.0%
FX USD/EUR 12/210.000% 12/10/20210.0%
FX USD/GBP 12/210.000% 12/07/20210.0%
FX USD/GBP 12/210.000% 12/07/20210.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
TNT CRANE AND RIGGING0.000% -0.0%
Sovos Brands Intermediate Inc4.500% 06/08/20280.0%
FX USD/GBP 12/210.000% 12/07/20210.0%
Revlon Consumer Products Corp4.250% 06/30/20250.0%
FX EUR/USD 12/210.000% 12/10/20210.0%
FX EUR/USD 12/210.000% 12/10/20210.0%
Tonon Luxembourg SA6.500% 10/31/20240.0%
Cubic Corp5.000% 05/25/20280.0%
FX USD/GBP 12/210.000% 12/07/20210.0%
Miller's Ale House Inc4.841% 05/30/20250.0%
UWH PLLC5.000% 12/16/20270.0%
Washington Mutual Bank / Debt not acquired by JPMorgan6.875% 06/15/20110.0%
PERSIMMON MIDCO LLC0.000% -0.0%
Dutch Lion BV11.250% 06/15/20200.0%
EURO-BUND FUTURE Mar220.000% 03/10/20220.0%
FX USD/EUR 12/210.000% 12/10/20210.0%
FX USD/GBP 12/210.000% 12/07/20210.0%
GRAY TELEVISION INC0.000% 08/12/20220.0%
MIRABELA NICKEL LTD.1.000% 09/16/20440.0%
Commercial Mortgage Backed Index Swap2.000% 05/11/20630.0%
Commercial Mortgage Backed Index Swap2.000% 05/11/20630.0%
Commercial Mortgage Backed Index Swap2.000% 05/11/20630.0%
FX EUR/USD 12/210.000% 12/10/20210.0%
FX EUR/USD 12/210.000% 12/10/20210.0%
FX EUR/USD 12/210.000% 12/10/20210.0%
FX EUR/USD 12/210.000% 12/10/20210.0%
FX EUR/USD 12/210.000% 12/10/20210.0%
Credit Index Swap5.000% 12/20/20260.0%
FX EUR/USD 12/210.000% 12/10/20210.0%
FX GBP/USD 12/210.000% 12/07/20210.0%
FX EUR/USD 12/210.000% 12/10/20210.0%
FX EUR/USD 12/210.000% 12/10/20210.0%
FX EUR/USD 12/210.000% 12/10/20210.0%
FX EUR/USD 12/210.000% 12/10/20210.0%
FX EUR/USD 12/210.000% 12/10/20210.0%
FX EUR/USD 12/210.000% 12/10/20210.0%
FX EUR/USD 12/210.000% 12/10/20210.0%
FX GBP/USD 12/210.000% 12/07/20210.0%
FX GBP/USD 12/210.000% 12/07/20210.0%
FX EUR/USD 12/210.000% 12/10/20210.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
US 2YR NOTE (CBT) Mar220.000% 04/05/20220.0%
US 10yr Ultra Fut Mar220.000% 03/31/20220.0%
US 5YR NOTE (CBT) Mar220.000% 04/05/2022-0.1%

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

Sector Allocationas of 12/31/2021

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

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 01/14/2022
$0
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 12/31/2021 $0.02582 $7.46
Daily Daily 11/30/2021 $0.02877 $7.39
Daily Daily 10/31/2021 $0.02565 $7.52
Daily Daily 09/30/2021 $0.02500 $7.52
Daily Daily 08/31/2021 $0.02507 $7.55
Daily Daily 07/31/2021 $0.02548 $7.54
Daily Daily 06/30/2021 $0.02656 $7.56
Daily Daily 05/31/2021 $0.02599 $7.48
Daily Daily 04/30/2021 $0.02601 $7.48
Daily Daily 03/31/2021 $0.02510 $7.42
Daily Daily 02/28/2021 $0.02567 $7.46
Daily Daily 01/31/2021 $0.02500 $7.40

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 01/31/2022
Daily Daily 02/28/2022
Daily Daily 03/31/2022
Daily Daily 04/30/2022
Daily Daily 05/31/2022
Daily Daily 06/30/2022
Daily Daily 07/31/2022
Daily Daily 08/31/2022
Daily Daily 09/30/2022
Daily Daily 10/31/2022
Daily Daily 11/30/2022
Daily Daily 12/31/2022

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/16/2021 12/17/2021 - $0.0100 $0.0100 $7.41
*

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
12/19/2022 12/20/2022

Fees & Expenses

Fees & Expenses

Expense Ratioas of 12/31/2021

1.53%

Fund Documents

Fund Documents

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*Barron’s Overall Fund Family of 2020,” #7 overall ranking among 53 qualifying fund families based on the net total return of the one-year period ending 12/31/2020. Five-year overall ranking is #4 out of 50 qualifying fund families; and 10-year overall ranking is #21 out of 44 qualifying fund families.

Source: Barron’s, “Barron’s Best Fund Families of 2020,” February 20, 2021. Barron’s rankings are based on asset weighted returns in funds in five categories: general equity, world equity (including international and global portfolios), mixed asset (which invest in stocks, bonds and other securities), taxable bond, and tax-exempt (each a "Barron's ranking category"). Rankings also take into account an individual fund's performance within its Lipper peer universe. Lipper calculated each fund's net total return for the year ended December 31, 2020, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer "universe," as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2020 weighting of their Barron's ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron's ranking category. The process is repeated for the five- and ten-year rankings as well.

Barron's Fund Family Rankings are awarded annually.

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

© Refinitiv Lipper 2021. All Rights Reserved. Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. Lipper provides global, independent fund performance data. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

+

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

                    

1

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

 

2

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

 

 

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.

 

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.

Select funds to run a Morningstar Hypothetical Report.

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