LHYRX | High Yield Fund Class R3 | Lord Abbett

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High Yield Fund

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Daily price w/o sales charge as of 05/19/2022

$6.52

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YTD Returns w/o sales charge as of 05/19/2022

-11.81%

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

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Summary

Summary

What is the High 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 05/19/2022  

w/o sales charge 5.51%

30-Day Standardized Yield 2 as of 04/30/2022  

5.43%

Fund Basicsas of 03/31/2022

Total Net Assets
$6.32 B
Inception Date
09/28/2007
Dividend Frequency
Monthly
Fund Expense Ratio
1.18%
Number of Holdings
713

Fund Expense Ratio :

1.18%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -8.82% -6.18% 1.78% 2.56% 4.96% 5.95%
Lipper Category Avg. High Yield Funds -7.28% -4.65% 2.45% 3.11% 4.39% -
ICE BofA U.S. High Yield Constrained Index -7.96% -4.96% 2.61% 3.54% 5.19% 6.33%

Fund Expense Ratio :

1.18%

Fund Expense Ratio :

1.18%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -5.47% -1.58% 3.64% 3.53% 5.41% 6.25%
Lipper Category Avg. High Yield Funds -4.07% -0.28% 4.14% 4.05% 4.85% -
ICE BofA U.S. High Yield Constrained Index -4.50% -0.30% 4.37% 4.54% 5.69% 6.64%

Fund Expense Ratio :

1.18%

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

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

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

Type Assets
High Yield Bonds
Bank Loans
Investment Grade Bonds
Equity
Convertibles
Other
Cash

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

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 03/31/2022 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, Deputy Director of Leveraged Credit

13 Years of Industry Experience

Karen J. Gunnerson
Karen J. Gunnerson

Portfolio Manager

11 Years of Industry Experience

Supported By 70 Investment Professionals with 16 Years Avg. Industry Experience

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Performance

Performance

Dividend Yield 1 as of 05/19/2022  

w/o sales charge 5.51%

30-Day Standardized Yield 2 as of 04/30/2022  

  Subsidized3 Un-Subsidized4
w/o sales charge 5.43% 5.43%

Fund Expense Ratio :

1.18%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -8.82% -6.18% 1.78% 2.56% 4.96% 5.95%
Lipper Category Avg. High Yield Funds -7.28% -4.65% 2.45% 3.11% 4.39% -
ICE BofA U.S. High Yield Constrained Index -7.96% -4.96% 2.61% 3.54% 5.19% 6.33%

Fund Expense Ratio :

1.18%

Fund Expense Ratio :

1.18%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -5.47% -1.58% 3.64% 3.53% 5.41% 6.25%
Lipper Category Avg. High Yield Funds -4.07% -0.28% 4.14% 4.05% 4.85% -
ICE BofA U.S. High Yield Constrained Index -4.50% -0.30% 4.37% 4.54% 5.69% 6.64%

Fund Expense Ratio :

1.18%

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 5.83% 5.35%
2020 4.19% 6.07%
2019 14.68% 14.41%
2018 -5.49% -2.27%
2017 8.17% 7.48%
2016 15.62% 17.49%
2015 -2.49% -4.61%
2014 3.18% 2.51%
2013 9.35% 7.41%
2012 16.12% 15.55%
2011 2.89% -
2010 13.96% -
2009 50.25% -
2008 -23.27% -
2007 1.67% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -5.47% - - - -11.81%
2021 1.65% 3.02% 0.56% 0.49% 5.83%
2020 -16.75% 10.76% 5.58% 7.01% 4.19%
2019 7.39% 3.69% 0.21% 2.78% 14.68%
2018 -1.25% -0.10% 2.46% -6.49% -5.49%
2017 2.74% 1.77% 2.50% 0.93% 8.17%
2016 1.93% 5.42% 5.37% 2.11% 15.62%
2015 3.10% 0.66% -4.27% -1.86% -2.49%
2014 2.84% 3.30% -1.88% -1.01% 3.18%
2013 3.89% -0.97% 2.43% 3.77% 9.35%
2012 6.53% 0.30% 4.97% 3.53% 16.12%
2011 3.74% 1.00% -7.04% 5.64% 2.89%
2010 4.84% -0.98% 6.24% 3.32% 13.96%
2009 6.06% 17.31% 13.88% 6.04% 50.25%
2008 -3.46% 1.96% -7.56% -15.67% -23.27%
2007 2.93% 0.13% -0.15% -1.21% 1.67%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
High Yield Bonds
Bank Loans
Investment Grade Bonds
Equity
Convertibles
Other
Cash

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

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 03/31/2022

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 3/31/2022

  • The Fund’s allocation to the Basic Industry sector remained the largest overweight sector. We continued to favor the long-term picture for the sector as the Fund remained tilted towards more cyclical positioning. Within the sector, we continued to favor securities in the Metals and Mining subsector, and increased exposure to Steel Products. Both of these segments have been mostly supported by higher inflation and rising commodity prices and should continue to be boosted particularly given commodity supply constraints as a result of the Russia-Ukrainian conflict. However, we trimmed several positions associated with Building & Construction and Building Material throughout the quarter. Issuers in these subsectors faced increased headwinds given higher input costs from supply chain shortages as well as a shortage in labor supply. Additionally, housing affordability dampened in the latter half of the quarter due to rising mortgage rates, leading to a weaker consumer demand outlook.
  • We increased exposure to the Energy sector within the Fund, which remained the second largest overweight. Energy exposure remained primarily in the Exploration & Production (E&P) subsector, which had been a direct beneficiary of increased U.S. energy demand as the U.S. reopened from initial COVID-19-related restrictions. Separately, these securities benefited from a favorable technical relationship in oil prices given elevated demand and constrained supply. While we remain constructive on the E&P space, we began to explore other subsectors within the sector, including Gas Distribution, where there may be more attractive relative value. However, we remain constructive on the sector as a whole which should be supported by higher oil prices, especially given an expected supply shortage as a result of Western sanctions on Russian produced crude oil.
  • The Fund’s allocation to the Retail sector decreased over the quarter due to inflationary headwinds. We expect this sector to face increased headwinds as inflation remains elevated. Not only have retailers experienced higher input costs and ongoing supply chain challenges, but U.S. consumers have begun to curb consumption on goods given the rising prices. Furthermore, retail sales were boosted by consumers receiving robust fiscal stimulus in 2021, most of which is now expired. Within the sector, we have moved away from positions in the Specialty Retail segment that have higher exposure to low-end consumers which we expect to be affected more substantially by inflation as they have less flexibility to absorb these prices.
  • We meaningfully added to Fund’s allocation to the Healthcare sector. Recessionary risks ticked up in March given the combination of red-hot inflation, an increasingly hawkish Fed stance, and the war in Ukraine. As a result, we have migrated the Fund to a moderately more defensive posture with a focus on the Healthcare sector. Within Healthcare, we primarily targeted health facilities, which should benefit from an expected increase in volumes as individuals resume more nonmandatory procedures. These higher volumes should offset cost pressures from tight labor markets, yet we continue to monitor these positions given a decrease in volumes.
  • The Telecommunications sector remained the Fund’s largest underweight. 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 and more valuable investments reside in other sectors.
  • We moved the Fund’s credit risk towards up-in-quality securities towards the end of the quarter. In the beginning of the quarter, we focused on moving the Fund towards less-rate sensitive credits, particularly CCC-rated securities, as interest rates rose, and the Fed communicated an increasingly hawkish stance. However, we quickly moved back into higher quality credit, particularly into BB- and BBB-rating buckets, in response to the start of the Russian-Ukrainian war as growth outlooks dampened and the probability of recessionary risks moved higher. Separately, these higher quality high yield credits exhibited more attractive relative valuations, given the recent widening in spreads from the selloff of more duration sensitive bonds within high yield, as well as the upgrade pressure from the volume of potential rising stars. We simultaneously rotated away from CCC-rated credit and reduced the Fund’s overall credit exposure given the increased recessionary risks in the U.S. and global economies.
  • The Fund maintained modest allocations to out-of-index sectors, such as bank loans and investment grade bonds. We believe select exposures to these sectors offer attractive risk-reward opportunities, potential Fund diversification benefits and avenues for liquidity. However, we reduced select allocations to U.S. equities and convertible bonds throughout the quarter as these comprised of growth-related sectors which suffered from increased risk-off sentiment. Separately, we did continue to increase the Fund’s bank loan allocation given their floating rate exposure.

Portfolio Details as of 03/31/2022

Total Net Assets
$6.32 B
Number of Issues
713
Average Coupon
5.52%
Average Maturity
7.31 Years
Average Effective Duration
4.03 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 0.9%
Occidental Petroleum Corp 6.125% 01/01/2031 0.9%
Ford Motor Co 3.250% 02/12/2032 0.7%
CHS/Community Health Systems Inc 4.750% 02/15/2031 0.6%
Tenet Healthcare Corp 4.375% 01/15/2030 0.5%
Kraft Heinz Foods Co 4.875% 10/01/2049 0.5%
Mozart Debt Merger Sub Inc 3.875% 04/01/2029 0.5%
Centene Corp 4.625% 12/15/2029 0.5%
Centennial Resource Production LLC 5.375% 01/15/2026 0.5%
MEG Energy Corp 7.125% 02/01/2027 0.4%
% of Total Assets 6.0%
Holding Coupon Maturity Assets
Sprint Capital Corp6.875% 11/15/20280.9%
Occidental Petroleum Corp6.125% 01/01/20310.9%
Ford Motor Co3.250% 02/12/20320.7%
CHS/Community Health Systems Inc4.750% 02/15/20310.6%
Tenet Healthcare Corp4.375% 01/15/20300.5%
Kraft Heinz Foods Co4.875% 10/01/20490.5%
Mozart Debt Merger Sub Inc3.875% 04/01/20290.5%
Centene Corp4.625% 12/15/20290.5%
Centennial Resource Production LLC5.375% 01/15/20260.5%
MEG Energy Corp7.125% 02/01/20270.4%
Ford Motor Co4.750% 01/15/20430.4%
CCO Holdings LLC / CCO Holdings Capital Corp4.750% 03/01/20300.4%
FirstEnergy Corp7.375% 11/15/20310.4%
HCA Inc3.500% 09/01/20300.4%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.250% 05/15/20270.4%
Ford Motor Credit Co LLC2.900% 02/10/20290.4%
Colgate Energy Partners III LLC5.875% 07/01/20290.4%
Navient Corp6.750% 06/25/20250.4%
Matador Resources Co5.875% 09/15/20260.4%
Molina Healthcare Inc3.875% 11/15/20300.4%
Crowdstrike Holdings Inc3.000% 02/15/20290.4%
Laredo Petroleum Inc10.125% 01/15/20280.4%
Synovus Financial Corp5.900% 02/07/20290.3%
FMG Resources August 2006 Pty Ltd4.500% 09/15/20270.3%
Peabody Energy Corp3.197% 03/31/20250.3%
Carnival Corp4.000% 08/01/20280.3%
CHS/Community Health Systems Inc6.125% 04/01/20300.3%
GS Mortgage Securities Corp Trust 2021-ROSS MZ9.897% 06/15/20260.3%
Alcoa Nederland Holding BV4.125% 03/31/20290.3%
American Airlines Inc11.750% 07/15/20250.3%
PBF Holding Co LLC / PBF Finance Corp9.250% 05/15/20250.3%
Mohegan Gaming & Entertainment8.000% 02/01/20260.3%
Coeur Mining Inc5.125% 02/15/20290.3%
TransDigm Inc5.500% 11/15/20270.3%
Virgin Media Secured Finance PLC5.500% 05/15/20290.3%
United States Steel Corp6.875% 03/01/20290.3%
US 5YR NOTE (CBT) Jun220.000% 07/06/20220.3%
Jazz Securities DAC4.375% 01/15/20290.3%
DIRECT CHASSISLINK INC6.988% 04/10/20260.3%
Gulfport Energy Corp8.000% 05/17/20260.3%
Cheniere Energy Partners LP3.250% 01/31/20320.3%
Weatherford International Ltd8.625% 04/30/20300.3%
Full House Resorts Inc8.250% 02/15/20280.3%
Encino Acquisition Partners Holdings LLC8.500% 05/01/20280.3%
Coinbase Global Inc3.625% 10/01/20310.3%
Pike Corp5.500% 09/01/20280.3%
Southwestern Energy Co8.375% 09/15/20280.3%
Air Methods Corp8.000% 05/15/20250.3%
Crescent Energy Finance LLC7.250% 05/01/20260.3%
Sylvamo Corp7.000% 09/01/20290.3%
Buena Vista Gaming Authority13.000% 04/01/20230.3%
Organon & Co / Organon Foreign Debt Co-Issuer BV5.125% 04/30/20310.3%
Scientific Games Holdings LP/Scientific Games US FinCo Inc6.625% 03/01/20300.3%
Carnival Corp5.750% 03/01/20270.3%
Oceaneering International Inc6.000% 02/01/20280.3%
Legends Hospitality Holding Co LLC / Legends Hospitality Co-Issuer Inc5.000% 02/01/20260.3%
RIVERBED TECHNOLOGY INC2.000% 12/08/20260.3%
ON Semiconductor Corp3.875% 09/01/20280.3%
Ingles Markets Inc4.000% 06/15/20310.3%
Newell Brands Inc5.625% 04/01/20360.3%
ModivCare Escrow Issuer Inc5.000% 10/01/20290.3%
Aethon United BR LP / Aethon United Finance Corp8.250% 02/15/20260.3%
Virgin Media Finance PLC5.000% 07/15/20300.3%
American Airlines Group Inc3.750% 03/01/20250.2%
Clear Channel Outdoor Holdings Inc7.750% 04/15/20280.2%
Centene Corp3.000% 10/15/20300.2%
Centene Corp3.375% 02/15/20300.2%
Gray Escrow II Inc5.375% 11/15/20310.2%
Callon Petroleum Co8.000% 08/01/20280.2%
Twilio Inc3.625% 03/15/20290.2%
SM Energy Co6.750% 09/15/20260.2%
Occidental Petroleum Corp6.450% 09/15/20360.2%
SEB Funding LLC4.969% 01/30/20520.2%
Fontainebleau Miami Beach Trust 2019-FBLU3.963% 12/10/20360.2%
MND Holdings III Corp4.506% 06/19/20240.2%
National CineMedia LLC5.875% 04/15/20280.2%
Vedanta Resources Finance II PLC8.950% 03/11/20250.2%
United States Steel Corp6.650% 06/01/20370.2%
Braskem Idesa SAPI7.450% 11/15/20290.2%
Apache Corp5.100% 09/01/20400.2%
Buckeye Partners LP6.375% 01/22/20780.2%
Civitas Resources Inc5.000% 10/15/20260.2%
Centennial Resource Production LLC6.875% 04/01/20270.2%
Range Resources Corp4.875% 05/15/20250.2%
Bombardier Inc7.125% 06/15/20260.2%
Coronado Finance Pty Ltd10.750% 05/15/20260.2%
Apache Corp4.750% 04/15/20430.2%
FMG Resources August 2006 Pty Ltd4.375% 04/01/20310.2%
DISH DBS Corp7.750% 07/01/20260.2%
Western Midstream Operating LP4.550% 02/01/20300.2%
H&E Equipment Services Inc3.875% 12/15/20280.2%
Nabors Industries Ltd7.250% 01/15/20260.2%
180 Medical Inc3.875% 10/15/20290.2%
JP Morgan Chase Commercial Mortgage Securities Trust 2021-14404.247% 03/15/20360.2%
Atkore Inc4.250% 06/01/20310.2%
Switch Ltd3.750% 09/15/20280.2%
Tianqi Finco Co Ltd3.750% 11/28/20220.2%
Bombardier Inc6.000% 02/15/20280.2%
Novelis Corp3.875% 08/15/20310.2%
Fortress Transportation and Infrastructure Investors LLC5.500% 05/01/20280.2%
Texas Capital Bancshares Inc4.000% 05/06/20310.2%
Boyne USA Inc4.750% 05/15/20290.2%
XPO CNW Inc6.700% 05/01/20340.2%
ZipRecruiter Inc5.000% 01/15/20300.2%
Endeavor Energy Resources LP / EER Finance Inc5.750% 01/30/20280.2%
LSB Industries Inc6.250% 10/15/20280.2%
SCIH Salt Holdings Inc6.625% 05/01/20290.2%
INTELSAT JACKSON HOLDINGS SA4.920% 02/01/20290.2%
Tenet Healthcare Corp4.250% 06/01/20290.2%
Kraft Heinz Foods Co4.375% 06/01/20460.2%
Madison IAQ LLC5.875% 06/30/20290.2%
Pattern Energy Operations LP / Pattern Energy Operations Inc4.500% 08/15/20280.2%
CVR Partners LP / CVR Nitrogen Finance Corp6.125% 06/15/20280.2%
Ardonagh Midco 2 PLC11.500% 01/15/20270.2%
BFLD 2019-DPLO2.937% 10/15/20340.2%
Kosmos Energy Ltd7.500% 03/01/20280.2%
Sealed Air Corp6.875% 07/15/20330.2%
Hawaiian Brand Intellectual Property Ltd / HawaiianMiles Loyalty Ltd5.750% 01/20/20260.2%
Seaspan Corp5.500% 08/01/20290.2%
MSCI Inc3.875% 02/15/20310.2%
Travel + Leisure Co6.625% 07/31/20260.2%
AMC Networks Inc4.250% 02/15/20290.2%
Vmed O2 UK Financing I PLC4.750% 07/15/20310.2%
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc5.000% 06/01/20290.2%
Mueller Water Products Inc4.000% 06/15/20290.2%
Commercial Metals Co4.125% 01/15/20300.2%
Ball Corp2.875% 08/15/20300.2%
USA Compression Partners LP / USA Compression Finance Corp6.875% 09/01/20270.2%
MC Brazil Downstream Trading SARL7.250% 06/30/20310.2%
Resideo Funding Inc4.000% 09/01/20290.2%
GPS Hospitality Holding Co LLC / GPS Finco Inc7.000% 08/15/20280.2%
Hecla Mining Co7.250% 02/15/20280.2%
Block Inc3.500% 06/01/20310.2%
Taseko Mines Ltd7.000% 02/15/20260.2%
CQP Holdco LP / BIP-V Chinook Holdco LLC5.500% 06/15/20310.2%
Midcap Financial Issuer Trust6.500% 05/01/20280.2%
PRA Group Inc5.000% 10/01/20290.2%
Affinity Gaming6.875% 12/15/20270.2%
Viper Energy Partners LP5.375% 11/01/20270.2%
CDI Escrow Issuer Inc5.750% 04/01/20300.2%
Entegris Inc3.625% 05/01/20290.2%
Option Care Health Inc4.375% 10/31/20290.2%
Tenet Healthcare Corp6.125% 10/01/20280.2%
Uber Technologies Inc4.500% 08/15/20290.2%
Acadia Healthcare Co Inc5.000% 04/15/20290.2%
Minsur SA4.500% 10/28/20310.2%
Limak Iskenderun Uluslararasi Liman Isletmeciligi AS9.500% 07/10/20360.2%
NCL Corp Ltd5.875% 03/15/20260.2%
Radiology Partners Inc9.250% 02/01/20280.2%
Jacobs Entertainment Inc6.750% 02/15/20290.2%
Belo Corp7.250% 09/15/20270.2%
BEP Ulterra Holdings Inc5.707% 11/26/20250.2%
Synaptics Inc4.000% 06/15/20290.2%
Buckeye Partners LP3.950% 12/01/20260.2%
Comstock Resources Inc5.875% 01/15/20300.2%
SierraCol Energy Andina LLC6.000% 06/15/20280.2%
CSN Resources SA4.625% 06/10/20310.2%
Live Nation Entertainment Inc3.750% 01/15/20280.2%
Compass Minerals International Inc6.750% 12/01/20270.2%
Alpha Metallurgical Resources Inc10.000% 06/14/20240.2%
Asteroid Private Merger Sub Inc8.500% 11/15/20290.2%
Churchill Downs Inc4.750% 01/15/20280.2%
Perimeter Master Note Business Trust5.190% 05/15/20270.2%
AMMC CLO 24 Ltd6.824% 01/20/20350.2%
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp4.250% 02/01/20270.2%
VZ Secured Financing BV5.000% 01/15/20320.2%
Sabre GLBL Inc9.250% 04/15/20250.2%
SunCoke Energy Inc4.875% 06/30/20290.2%
Nabors Industries Inc5.750% 02/01/20250.2%
Aston Martin Capital Holdings Ltd10.500% 11/30/20250.2%
Rocket Software Inc6.500% 02/15/20290.2%
SeaWorld Parks & Entertainment Inc5.250% 08/15/20290.2%
Penn National Gaming Inc4.125% 07/01/20290.2%
HAT Holdings I LLC / HAT Holdings II LLC3.750% 09/15/20300.2%
Southwestern Energy Co5.375% 02/01/20290.2%
PeopleCert Wisdom Issuer PLC5.750% 09/15/20260.2%
1011778 BC ULC / New Red Finance Inc3.500% 02/15/20290.2%
Ulker Biskuvi Sanayi AS6.950% 10/30/20250.2%
PHH Mortgage Corp7.875% 03/15/20260.2%
Trinseo Materials Operating SCA / Trinseo Materials Finance Inc5.125% 04/01/20290.2%
Texas Capital Bank NA5.250% 01/31/20260.2%
Anastasia Parent LLC4.756% 08/11/20250.2%
TerraForm Power Operating LLC4.750% 01/15/20300.2%
Mong Duong Finance Holdings BV5.125% 05/07/20290.2%
EQT Corp7.500% 02/01/20300.2%
Vista Outdoor Inc4.500% 03/15/20290.2%
Apollo Commercial Real Estate Finance Inc4.625% 06/15/20290.2%
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp8.000% 04/01/20290.2%
City Football Group Ltd4.000% 07/21/20280.2%
LBM Acquisition LLC6.250% 01/15/20290.2%
ROBLOX Corp3.875% 05/01/20300.2%
Cinemark USA Inc5.250% 07/15/20280.2%
TK Elevator US Newco Inc5.250% 07/15/20270.2%
Bristow Group Inc6.875% 03/01/20280.2%
Twilio Inc3.875% 03/15/20310.2%
Laredo Petroleum Inc7.750% 07/31/20290.2%
Royal Caribbean Cruises Ltd3.700% 03/15/20280.2%
Ciena Corp4.000% 01/31/20300.2%
Bellis Finco PLC4.000% 02/16/20270.2%
Century Aluminum Co7.500% 04/01/20280.2%
Carriage Purchaser Inc7.875% 10/15/20290.2%
Movida Europe SA5.250% 02/08/20310.2%
Jefferson Capital Holdings LLC6.000% 08/15/20260.2%
XHR LP4.875% 06/01/20290.2%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.2%
Mercer International Inc5.125% 02/01/20290.2%
Go Daddy Operating Co LLC / GD Finance Co Inc3.500% 03/01/20290.2%
Oasis Petroleum Inc6.375% 06/01/20260.2%
Precision Drilling Corp6.875% 01/15/20290.2%
Rockcliff Energy II LLC5.500% 10/15/20290.2%
HAT Holdings I LLC / HAT Holdings II LLC3.375% 06/15/20260.2%
Hertz Corp/The5.000% 12/01/20290.2%
Hunt Cos Inc5.250% 04/15/20290.2%
Wabash National Corp4.500% 10/15/20280.2%
EnerSys4.375% 12/15/20270.2%
IIP Operating Partnership LP5.500% 05/25/20260.2%
NextEra Energy Operating Partners LP4.500% 09/15/20270.2%
Tullow Oil PLC10.250% 05/15/20260.2%
Dycom Industries Inc4.500% 04/15/20290.2%
Frontier Communications Holdings LLC5.875% 10/15/20270.2%
Hudbay Minerals Inc4.500% 04/01/20260.2%
TransDigm Inc4.625% 01/15/20290.2%
Indika Energy Capital IV Pte Ltd8.250% 10/22/20250.2%
Royal Caribbean Cruises Ltd5.375% 07/15/20270.2%
Patterson-UTI Energy Inc3.950% 02/01/20280.2%
Hilcorp Energy I LP / Hilcorp Finance Co6.000% 02/01/20310.2%
Canacol Energy Ltd5.750% 11/24/20280.2%
AMN Healthcare Inc4.000% 04/15/20290.2%
Lindblad Expeditions LLC6.750% 02/15/20270.2%
Hudbay Minerals Inc6.125% 04/01/20290.2%
Frontier Communications Holdings LLC6.000% 01/15/20300.2%
ASP Unifrax Holdings Inc7.500% 09/30/20290.2%
Pactiv LLC7.950% 12/15/20250.2%
Catalent Pharma Solutions Inc3.500% 04/01/20300.2%
Forestar Group Inc5.000% 03/01/20280.2%
WMG Acquisition Corp3.000% 02/15/20310.2%
LCM Investments Holdings II LLC4.875% 05/01/20290.2%
Mattel Inc5.450% 11/01/20410.2%
WASHINGTON PRIME GROUP LP5.750% 06/11/20250.2%
TransJamaican Highway Ltd5.750% 10/10/20360.2%
MGM Resorts International4.625% 09/01/20260.2%
Equinox Holdings Inc4.006% 03/08/20240.2%
Imola Merger Corp4.750% 05/15/20290.2%
Charles River Laboratories International Inc4.250% 05/01/20280.2%
CSMC 2021-BPNY4.111% 08/15/20230.2%
United Rentals North America Inc3.875% 02/15/20310.2%
Clear Channel Outdoor Holdings Inc7.500% 06/01/20290.2%
Condor Merger Sub Inc7.375% 02/15/20300.2%
WMG Acquisition Corp3.750% 12/01/20290.2%
SCF Preferred Equity LLC7.500% 10/16/21700.2%
Canary Wharf Group Investment Holdings PLC3.375% 04/23/20280.2%
Hilton Domestic Operating Co Inc3.625% 02/15/20320.2%
Spring Education Group Inc5.256% 07/30/20250.2%
ATS Automation Tooling Systems Inc4.125% 12/15/20280.2%
VistaJet Malta Finance PLC / XO Management Holding Inc6.375% 02/01/20300.2%
SM Energy Co6.625% 01/15/20270.2%
DT Midstream Inc4.125% 06/15/20290.2%
Coinbase Global Inc3.375% 10/01/20280.2%
First Quantum Minerals Ltd6.875% 10/15/20270.2%
SPCM SA3.375% 03/15/20300.2%
Cable One Inc4.000% 11/15/20300.2%
Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp4.875% 05/01/20290.2%
NAPA Management Services Corp6.149% 02/23/20290.2%
US Acute Care Solutions LLC6.375% 03/01/20260.2%
AG Issuer LLC6.250% 03/01/20280.2%
Resorts World Las Vegas LLC / RWLV Capital Inc4.625% 04/06/20310.2%
Port of Newcastle Investments Financing Pty Ltd5.900% 11/24/20310.2%
ASR Media and Sponsorship SpA5.125% 08/01/20240.2%
Bahamas Government International Bond8.950% 10/15/20320.2%
Owens & Minor Inc6.625% 04/01/20300.2%
Allied Universal Holdco LLC / Allied Universal Finance Corp6.000% 06/01/20290.2%
Berry Petroleum Co LLC7.000% 02/15/20260.2%
IEA Energy Services LLC6.625% 08/15/20290.2%
Park River Holdings Inc5.625% 02/01/20290.1%
Staples Inc10.750% 04/15/20270.1%
California Resources Corp7.125% 02/01/20260.1%
Cablevision Lightpath LLC5.625% 09/15/20280.1%
Prime Security Services Borrower LLC / Prime Finance Inc3.375% 08/31/20270.1%
Crocs Inc4.125% 08/15/20310.1%
Colgate Energy Partners III LLC7.750% 02/15/20260.1%
Ahern Rentals Inc7.375% 05/15/20230.1%
SWF Escrow Issuer Corp6.500% 10/01/20290.1%
Callon Petroleum Co6.375% 07/01/20260.1%
Guitar Center Inc8.500% 01/15/20260.1%
Weatherford International Ltd6.500% 09/15/20280.1%
MEG Energy Corp5.875% 02/01/20290.1%
Arena Luxembourg Finance Sarl1.875% 02/01/20280.1%
Occidental Petroleum Corp4.100% 02/15/20470.1%
Levi Strauss & Co3.500% 03/01/20310.1%
MSCI Inc3.250% 08/15/20330.1%
VICI Properties LP / VICI Note Co Inc4.125% 08/15/20300.1%
Stonepeak Taurus Lower Holdings LLC7.751% 01/28/20300.1%
LSF11 A5 HoldCo LLC6.625% 10/15/20290.1%
Vistra Corp7.000% 06/15/21700.1%
Wendy's International LLC7.000% 12/15/20250.1%
Park River Holdings Inc6.750% 08/01/20290.1%
Comstock Resources Inc6.750% 03/01/20290.1%
Range Resources Corp8.250% 01/15/20290.1%
Global Atlantic Fin Co4.700% 10/15/20510.1%
Genting New York LLC / GENNY Capital Inc3.300% 02/15/20260.1%
Welltec International ApS8.250% 10/15/20260.1%
SM Energy Co5.625% 06/01/20250.1%
Alta Equipment Group Inc5.625% 04/15/20260.1%
Warrior Met Coal Inc7.875% 12/01/20280.1%
Advisor Group Holdings Inc10.750% 08/01/20270.1%
Hilcorp Energy I LP / Hilcorp Finance Co5.750% 02/01/20290.1%
Papa John's International Inc3.875% 09/15/20290.1%
Jane Street Group / JSG Finance Inc4.500% 11/15/20290.1%
CrownRock LP / CrownRock Finance Inc5.000% 05/01/20290.1%
ECL ENTERTAINMENT LLC8.250% 03/31/20280.1%
Ingevity Corp3.875% 11/01/20280.1%
Agrosuper SA4.600% 01/20/20320.1%
Victors Merger Corp6.375% 05/15/20290.1%
Group 1 Automotive Inc4.000% 08/15/20280.1%
Royal Caribbean Cruises Ltd5.500% 04/01/20280.1%
Murphy Oil Corp6.375% 07/15/20280.1%
Live Nation Entertainment Inc4.750% 10/15/20270.1%
Calpine Corp5.000% 02/01/20310.1%
MEDASSETS SOFTWARE INTRMEDIATE4.500% 12/18/20280.1%
Signa Development Finance SCS5.500% 07/23/20260.1%
CNX Resources Corp6.000% 01/15/20290.1%
Compass Group Diversified Holdings LLC5.000% 01/15/20320.1%
Empresa Generadora de Electricidad Haina SA5.625% 11/08/20280.1%
NOVA Chemicals Corp4.250% 05/15/20290.1%
Arcosa Inc4.375% 04/15/20290.1%
MHP Lux SA6.250% 09/19/20290.1%
Audacy Capital Corp6.500% 05/01/20270.1%
TMS International Corp/DE6.250% 04/15/20290.1%
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer5.875% 10/01/20280.1%
Energy Acquisition Co Inc4.707% 06/26/20250.1%
Redwood Star Merger Sub Inc8.750% 04/01/20300.1%
Delta Topco Inc8.000% 12/01/20280.1%
New Home Co Inc/The7.250% 10/15/20250.1%
Northwest Fiber LLC / Northwest Fiber Finance Sub Inc10.750% 06/01/20280.1%
Baytex Energy Corp8.750% 04/01/20270.1%
Energy Transfer LP6.500% 11/15/21700.1%
COBHAM ULTRA SENIORCO SARL0.000% 11/16/20280.1%
Resolute Forest Products Inc4.875% 03/01/20260.1%
Northriver Midstream Finance LP5.625% 02/15/20260.1%
Antero Resources Corp7.625% 02/01/20290.1%
JSW Hydro Energy Ltd4.125% 05/18/20310.1%
Armor Holdco Inc5.000% 12/11/20280.1%
iHeartCommunications Inc4.750% 01/15/20280.1%
Hologic Inc3.250% 02/15/20290.1%
TerraForm Power Operating LLC5.000% 01/31/20280.1%
Punch Finance PLC6.125% 06/30/20260.1%
WP CPP Holdings LLC4.750% 04/30/20250.1%
Lightstone Holdco LLC4.750% 01/30/20240.1%
Tap Rock Resources LLC7.000% 10/01/20260.1%
Plains All American Pipeline LP6.125% 11/15/21700.1%
Allison Transmission Inc3.750% 01/30/20310.1%
USIC Holdings Inc7.250% 05/14/20290.1%
Nabors Industries Inc7.375% 05/15/20270.1%
Topgolf International Inc7.000% 02/09/20260.1%
ECHO GLOBAL LOGISTICS INC4.250% 11/23/20280.1%
PLT VII Finance Sarl4.625% 01/05/20260.1%
Travel Leaders Group LLC4.457% 01/25/20240.1%
FENDER MSCL INSTMNS CORPTN4.500% 12/01/20280.1%
Owens & Minor Inc4.500% 03/31/20290.1%
Ashland LLC6.875% 05/15/20430.1%
Antero Midstream Partners LP / Antero Midstream Finance Corp5.375% 06/15/20290.1%
Caesars Entertainment Inc4.625% 10/15/20290.1%
International Game Technology PLC5.250% 01/15/20290.1%
Geopark Ltd5.500% 01/17/20270.1%
Medco Bell Pte Ltd6.375% 01/30/20270.1%
Venture Global Calcasieu Pass LLC4.125% 08/15/20310.1%
Yum! Brands Inc5.350% 11/01/20430.1%
Range Resources Corp4.750% 02/15/20300.1%
EverArc Escrow Sarl5.000% 10/30/20290.1%
Great Wolf Trust 2019-WOLF3.129% 12/15/20360.1%
Reverb Buyer Inc0.000% 11/01/20280.1%
Buckeye Partners LP4.125% 12/01/20270.1%
Kestrel Acquisition LLC5.250% 06/02/20250.1%
NESCO Holdings II Inc5.500% 04/15/20290.1%
Azul Investments LLP7.250% 06/15/20260.1%
VF Ukraine PAT via VFU Funding PLC6.200% 02/11/20250.1%
Howmet Aerospace Inc5.950% 02/01/20370.1%
American Axle & Manufacturing Inc5.000% 10/01/20290.1%
Allegheny Technologies Inc5.125% 10/01/20310.1%
PHYSICIAN PARTNERS LLC4.500% 12/26/20280.1%
ALTAR BIDCO INC.6.100% 02/01/20300.1%
Engineered Components & Systems LLC6.500% 08/02/20280.1%
Stagwell Global LLC5.625% 08/15/20290.1%
Murphy Oil USA Inc3.750% 02/15/20310.1%
Sweetwater Borrower LLC5.500% 08/07/20280.1%
Carriage Purchaser Inc5.000% 09/30/20280.1%
Delek Logistics Partners LP / Delek Logistics Finance Corp7.125% 06/01/20280.1%
SRM Escrow Issuer LLC6.000% 11/01/20280.1%
Alloy Finco Ltd0.500% 03/06/20250.1%
Marriott Ownership Resorts Inc4.500% 06/15/20290.1%
BK LC Lux Finco1 Sarl5.250% 04/30/20290.1%
Alcoa Nederland Holding BV5.500% 12/15/20270.1%
Chemours Co/The5.375% 05/15/20270.1%
PetSmart Inc / PetSmart Finance Corp4.750% 02/15/20280.1%
ZoomInfo Technologies LLC/ZoomInfo Finance Corp3.875% 02/01/20290.1%
Eco Material Technologies Inc7.875% 01/31/20270.1%
Hightower Holding LLC6.750% 04/15/20290.1%
XP Inc3.250% 07/01/20260.1%
Bloomin' Brands Inc / OSI Restaurant Partners LLC5.125% 04/15/20290.1%
CWT Travel Group Inc8.500% 11/19/20260.1%
Elastic NV4.125% 07/15/20290.1%
Hilton Domestic Operating Co Inc4.875% 01/15/20300.1%
Urban One Inc7.375% 02/01/20280.1%
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp4.750% 06/15/20290.1%
CNX Midstream Partners LP4.750% 04/15/20300.1%
Esdec Solar Group BV6.500% 08/30/20280.1%
SRS Distribution Inc6.000% 12/01/20290.1%
Sri Lanka Government International Bond5.875% 07/25/20220.1%
Caesars Entertainment Inc8.125% 07/01/20270.1%
Ritchie Bros Holdings Inc4.750% 12/15/20310.1%
Roller Bearing Co of America Inc4.375% 10/15/20290.1%
Kane Bidco Ltd6.500% 02/15/20270.1%
Party City Holdings Inc8.750% 02/15/20260.1%
Pinewood Finance Co Ltd3.625% 11/15/20270.1%
Lions Gate Capital Holdings LLC5.500% 04/15/20290.1%
Kennedy-Wilson Inc5.000% 03/01/20310.1%
Kingpin Intermediate Holdings LLC4.500% 07/03/20240.1%
Studio City Co Ltd7.000% 02/15/20270.1%
Everi Holdings Inc5.000% 07/15/20290.1%
Penn Virginia Holdings LLC9.250% 08/15/20260.1%
Science Applications International Corp4.875% 04/01/20280.1%
Valvoline Inc4.250% 02/15/20300.1%
Golden Goose SpA4.875% 05/14/20270.1%
Lucid Energy Group II Borrower LLC5.000% 11/24/20280.1%
AHP Health Partners Inc5.750% 07/15/20290.1%
Pinewood Finance Co Ltd3.625% 11/15/20270.1%
Investment Energy Resources Ltd6.250% 04/26/20290.1%
THE ENTERPRISE DEVLOPMT ATHRTY5.000% 02/28/20280.1%
Navient Corp6.125% 03/25/20240.1%
Party City Holdings Inc6.625% 08/01/20260.1%
ASP Unifrax Holdings Inc5.250% 09/30/20280.1%
Miller's Ale House Inc5.205% 05/30/20250.1%
Compass Group Diversified Holdings LLC5.250% 04/15/20290.1%
MSCI Inc3.625% 11/01/20310.1%
Cullinan Holdco Scsp4.625% 10/15/20260.1%
Amsted Industries Inc4.625% 05/15/20300.1%
Illuminate Buyer LLC / Illuminate Holdings IV Inc9.000% 07/01/20280.1%
Rackspace Technology Global Inc5.375% 12/01/20280.1%
Leeward Renewable Energy Operations LLC4.250% 07/01/20290.1%
Outfront Media Capital LLC / Outfront Media Capital Corp4.250% 01/15/20290.1%
Windstream Escrow LLC / Windstream Escrow Finance Corp7.750% 08/15/20280.1%
Aircastle Ltd5.250% 09/15/21700.1%
Wyndham Hotels & Resorts Inc4.375% 08/15/20280.1%
eDreams ODIGEO SA5.500% 07/15/20270.1%
Organon & Co / Organon Foreign Debt Co-Issuer BV4.125% 04/30/20280.1%
APi Group DE Inc4.125% 07/15/20290.1%
Steel Dynamics Inc3.450% 04/15/20300.1%
Vivion Investments Sarl3.000% 08/08/20240.1%
Stonegate Pub Co Financing 2019 PLC8.250% 07/31/20250.1%
Frontier Communications Holdings LLC6.750% 05/01/20290.1%
Navient Corp6.750% 06/15/20260.1%
Olin Corp5.000% 02/01/20300.1%
VUE INTERNATIONAL BIDCO PLC4.750% 07/03/20260.1%
Element Solutions Inc3.875% 09/01/20280.1%
Turkiye Petrol Rafinerileri AS4.500% 10/18/20240.1%
Minerals Technologies Inc5.000% 07/01/20280.1%
CommScope Inc7.125% 07/01/20280.1%
Jerrold Finco PLC5.250% 01/15/20270.1%
BCPE Ulysses Intermediate Inc7.750% 04/01/20270.1%
Life Time Inc5.750% 01/15/20260.1%
Centene Corp2.500% 03/01/20310.1%
Century Communities Inc3.875% 08/15/20290.1%
Hertz Corp/The4.625% 12/01/20260.1%
Minerva Merger Sub Inc6.500% 02/15/20300.1%
Great Lakes Dredge & Dock Corp5.250% 06/01/20290.1%
Radiate Holdco LLC / Radiate Finance Inc6.500% 09/15/20280.1%
Aretec Escrow Issuer Inc7.500% 04/01/20290.1%
Medco Laurel Tree Pte Ltd6.950% 11/12/20280.1%
Valvoline Inc3.625% 06/15/20310.1%
Brundage-Bone Concrete Pumping Holdings Inc6.000% 02/01/20260.1%
GIBSON BRANDS PRIVATE EQUITY0.000% -0.1%
Venture Global Calcasieu Pass LLC3.875% 08/15/20290.1%
Intrepid Potash Inc0.000% -0.1%
Builders FirstSource Inc4.250% 02/01/20320.1%
Oregon Clean Energy LLC4.750% 03/01/20260.1%
Shea Homes LP / Shea Homes Funding Corp4.750% 04/01/20290.1%
Forestar Group Inc3.850% 05/15/20260.1%
AI Candelaria Spain SA7.500% 12/15/20280.1%
GUSAP III LP4.250% 01/21/20300.1%
MED ParentCo LP4.707% 08/31/20260.1%
Virtusa Corp7.125% 12/15/20280.1%
CA Magnum Holdings5.375% 10/31/20260.1%
Carpenter Technology Corp7.625% 03/15/20300.1%
ADMI Corp3.875% 12/23/20270.1%
Cheniere Energy Inc4.625% 10/15/20280.1%
SABRE GLBL INC4.750% 06/30/20280.1%
Calpine Corp4.625% 02/01/20290.1%
Ahead DB Holdings LLC6.625% 05/01/20280.1%
MIWD Holdco II LLC / MIWD Finance Corp5.500% 02/01/20300.1%
CPV Shore Holdings LLC0.000% 12/29/20250.1%
BCPE Empire Holdings Inc7.625% 05/01/20270.1%
Selective Insurance Group Inc0.000% -0.1%
Applied Systems Inc0.000% 09/19/20250.1%
Bath & Body Works Inc6.625% 10/01/20300.1%
VACO HOLDINGS LLC5.750% 01/21/20290.1%
Ctec II GmbH5.250% 02/15/20300.1%
Avantor Funding Inc3.875% 11/01/20290.1%
Twitter Inc5.000% 03/01/20300.1%
Howard Hughes Corp/The5.375% 08/01/20280.1%
ON Semiconductor Corp0.000% 05/01/20270.1%
ONEOK Inc0.000% -0.1%
HealthEquity Inc4.500% 10/01/20290.1%
Midcap Financial Issuer Trust5.625% 01/15/20300.1%
Twitter Inc0.250% 06/15/20240.1%
Canadian National Railway Co0.000% -0.1%
United States Steel Corp5.000% 11/01/20260.1%
Tradeweb Markets Inc0.000% -0.1%
White Cap Buyer LLC6.875% 10/15/20280.1%
Callon Petroleum Co0.000% -0.1%
Foundation Building Materials Inc6.000% 03/01/20290.1%
Real Hero Merger Sub 2 Inc6.250% 02/01/20290.1%
Freeport-McMoRan Inc5.450% 03/15/20430.1%
Tri Pointe Homes Inc5.250% 06/01/20270.1%
Allbirds Inc0.000% -0.1%
Brazos Delaware II LLC4.449% 05/21/20250.1%
Arconic Corp6.125% 02/15/20280.1%
1011778 BC ULC / New Red Finance Inc4.000% 10/15/20300.1%
Imprivata Inc4.506% 12/01/20270.1%
Scotts Miracle-Gro Co/The4.000% 04/01/20310.1%
World Wrestling Entertainment Inc3.375% 12/15/20230.1%
Macquarie Bank Ltd/London6.125% 09/08/21700.1%
Ford Motor Credit Co LLC4.000% 11/13/20300.1%
SOLIS IV BV4.000% 02/26/20290.1%
Venture Global Calcasieu Pass LLC3.875% 11/01/20330.1%
Western Midstream Operating LP5.750% 02/01/20500.1%
Zendesk Inc0.625% 06/15/20250.1%
Nationstar Mortgage Holdings Inc5.500% 08/15/20280.1%
Watco Cos LLC / Watco Finance Corp6.500% 06/15/20270.1%
Dave & Buster's Entertainment Inc0.000% -0.1%
Crocs Inc4.250% 03/15/20290.1%
ACBL HLDG CORP0.000% -0.1%
Range Resources Corp0.000% -0.1%
CEC Entertainment LLC6.750% 05/01/20260.1%
Kontoor Brands Inc4.125% 11/15/20290.1%
Chobani LLC / Chobani Finance Corp Inc4.625% 11/15/20280.1%
Alteryx Inc1.000% 08/01/20260.1%
Inspire Medical Systems Inc0.000% -0.1%
Jaguar Land Rover Automotive PLC4.500% 10/01/20270.1%
Match Group Holdings II LLC4.125% 08/01/20300.1%
Weekley Homes LLC / Weekley Finance Corp4.875% 09/15/20280.1%
BlueLinx Holdings Inc6.000% 11/15/20290.1%
II-VI Inc5.000% 12/15/20290.1%
Rambus Inc1.375% 02/01/20230.1%
Staples Inc7.500% 04/15/20260.1%
Cognex Corp0.000% -0.1%
Envista Holdings Corp2.375% 06/01/20250.1%
CommScope Technologies LLC5.000% 03/15/20270.1%
AVSC Holding Corp0.250% 03/03/20250.1%
Booz Allen Hamilton Inc3.875% 09/01/20280.1%
Griffon Corp3.267% 01/24/20290.1%
Charles River Laboratories International Inc3.750% 03/15/20290.1%
Precision Drilling Corp7.125% 01/15/20260.1%
LSCS HOLDINGS INC.5.000% 12/16/20280.1%
Cushman & Wakefield US Borrower LLC6.750% 05/15/20280.1%
IMA Industria Macchine Automatiche SpA3.750% 01/15/20280.1%
Boyd Gaming Corp4.750% 06/15/20310.1%
Cedar Fair LP5.250% 07/15/20290.1%
T-Mobile USA Inc2.625% 02/15/20290.1%
Fair Isaac Corp4.000% 06/15/20280.1%
Equinox Holdings Inc10.006% 03/08/20240.1%
Millennium Escrow Corp6.625% 08/01/20260.1%
MEG Energy Corp0.000% -0.1%
SEG Holding LLC / SEG Finance Corp5.625% 10/15/20280.1%
YPF Energia Electrica SA10.000% 07/25/20260.1%
Century Aluminum Co0.000% -0.1%
Williams Scotsman International Inc4.625% 08/15/20280.1%
AMC Entertainment Holdings Inc12.000% 06/15/20260.1%
NCL Finance Ltd6.125% 03/15/20280.1%
Radiate Holdco LLC / Radiate Finance Inc4.500% 09/15/20260.1%
Tempur Sealy International Inc3.875% 10/15/20310.1%
Empire Resorts Inc7.750% 11/01/20260.1%
NSG Holdings LLC / NSG Holdings Inc7.750% 12/15/20250.1%
Macy's Retail Holdings LLC5.875% 04/01/20290.1%
Charles River Laboratories International Inc4.000% 03/15/20310.1%
APi Escrow Corp4.750% 10/15/20290.1%
Murphy Oil USA Inc4.750% 09/15/20290.1%
Shimao Group Holdings Ltd5.200% 01/16/20270.1%
Rede D'or Finance Sarl4.950% 01/17/20280.1%
Compass Minerals International Inc4.875% 07/15/20240.1%
TANK HOLDING CORP0.000% 03/31/20280.1%
Diamond Sports Group LLC / Diamond Sports Finance Co5.375% 08/15/20260.1%
PBF Holding Co LLC / PBF Finance Corp7.250% 06/15/20250.1%
CT Trust5.125% 02/03/20320.1%
Central American Bottling Corp / CBC Bottling Holdco SL / Beliv Holdco SL5.250% 04/27/20290.1%
Perimeter Master Note Business Trust8.130% 05/15/20270.1%
Royal Caribbean Cruises Ltd9.125% 06/15/20230.1%
Talen Energy Supply LLC6.500% 06/01/20250.1%
Occidental Petroleum Corp6.625% 09/01/20300.1%
Occidental Petroleum Corp4.400% 08/15/20490.1%
Standard Industries Inc/NJ3.375% 01/15/20310.1%
Howard Hughes Corp/The4.125% 02/01/20290.1%
TK Elevator Holdco GmbH7.625% 07/15/20280.1%
Macy's Retail Holdings LLC4.500% 12/15/20340.1%
Castle US Holding Corp9.500% 02/15/20280.1%
Service Properties Trust4.500% 03/15/20250.1%
Callon Petroleum Co6.125% 10/01/20240.1%
Occidental Petroleum Corp7.500% 05/01/20310.1%
Avis Budget Car Rental LLC / Avis Budget Finance Inc5.375% 03/01/20290.1%
Claire's Stores Inc6.957% 12/18/20260.1%
Great Wolf Trust 2019-WOLF3.528% 12/15/20360.1%
Kennedy-Wilson Inc4.750% 03/01/20290.1%
Ken Garff Automotive LLC4.875% 09/15/20280.1%
Peabody Energy Corp6.375% 03/31/20250.1%
Service Properties Trust4.350% 10/01/20240.1%
Doncasters US LLC8.500% 03/06/20240.1%
Avis Budget Car Rental LLC / Avis Budget Finance Inc4.750% 04/01/20280.1%
Booz Allen Hamilton Inc4.000% 07/01/20290.1%
THE ULTIMATE SW GRP INC5.750% 05/03/20270.1%
Summer BC Bidco B LLC5.500% 10/31/20260.1%
SCIH Salt Holdings Inc4.875% 05/01/20280.1%
Elwood Energy LLC8.159% 07/05/20260.1%
UTEX INDUSTRIES0.000% -0.1%
Cullinan Holdco Scsp4.625% 10/15/20260.0%
PeopleCert Wisdom Issuer PLC5.750% 09/15/20260.0%
Gartner Inc3.750% 10/01/20300.0%
Southwestern Energy Co5.950% 01/23/20250.0%
Sunac China Holdings Ltd5.950% 04/26/20240.0%
Howard Hughes Corp/The4.375% 02/01/20310.0%
Kraft Heinz Foods Co5.000% 06/04/20420.0%
US 10yr Ultra Fut Jun220.000% 06/30/20220.0%
CLAIRES HOLDINGS0.000% -0.0%
Kernel Holding SA6.500% 10/17/20240.0%
Logan Group Co Ltd4.500% 01/13/20280.0%
ACBL HLDG CORP0.000% -0.0%
Joseph T Ryerson & Son Inc8.500% 08/01/20280.0%
UC HOLDINGS INC.0.000% -0.0%
Logan Group Co Ltd5.250% 02/23/20230.0%
Kernel Holding SA6.750% 10/27/20270.0%
Welltec International ApS8.250% 10/15/20260.0%
Sunac China Holdings Ltd6.500% 01/10/20250.0%
CHINOS INTERMEDIATE HLDGS A IN9.000% 09/10/20270.0%
Trident TPI Holdings Inc6.625% 11/01/20250.0%
Reverb Buyer Inc0.035% 11/01/20280.0%
New Frontera Holdings LLC14.006% 07/28/20260.0%
BRITAX CHILD SAFETY INC.0.000% 03/31/20250.0%
Arcor SAIC6.000% 07/06/20230.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Zhenro Properties Group Ltd7.350% 02/05/20250.0%
Credit Index Swap5.000% 06/20/20270.0%
FX USD/GBP 06/220.000% 06/07/20220.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer5.875% 11/01/20290.0%
Shift4 Payments LLC / Shift4 Payments Finance Sub Inc4.625% 11/01/20260.0%
Commercial Mortgage Backed Index Swap3.000% 11/17/20590.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
New Frontera Holdings LLC2.506% 07/28/20280.0%
Commercial Mortgage Backed Index Swap3.000% 11/17/20590.0%
CHINOS INTERMEDIATE 2 LLC0.000% -0.0%
Sonic Automotive Inc4.625% 11/15/20290.0%
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%
Lightstone Holdco LLC4.750% 01/30/20240.0%
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%
FRONTERA GENERATION0.000% -0.0%
TNT CRANE AND RIGGING0.000% -0.0%
CHINOS INTERMEDIATE 2 LLC0.000% -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 Swap2.000% 05/11/20630.0%
Commercial Mortgage Backed Index Swap2.000% 05/11/20630.0%
REVLON ROLL UP0.000% -0.0%
SABLE PERMIAN RESOURCES WARR0.000% -0.0%
Commercial Mortgage Backed Index Swap2.000% 05/11/20630.0%
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%
FGI Operating Co LLC11.006% 05/16/20220.0%
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%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
FX CAD/USD 04/220.000% 04/20/20220.0%
FX EUR/USD 06/220.000% 06/10/20220.0%
TNT CRANE AND RIGGING0.000% -0.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
FX EUR/USD 06/220.000% 06/10/20220.0%
FX CAD/USD 04/220.000% 04/20/20220.0%
FX GBP/USD 06/220.000% 06/07/20220.0%
FX CAD/USD 04/220.000% 04/20/20220.0%
FX CAD/USD 04/220.000% 04/20/20220.0%
FX CAD/USD 04/220.000% 04/20/20220.0%
FX CAD/USD 04/220.000% 04/20/20220.0%
FX GBP/USD 06/220.000% 06/07/20220.0%
FX CAD/USD 04/220.000% 04/20/20220.0%
FX EUR/USD 06/220.000% 06/10/20220.0%
FX EUR/USD 06/220.000% 06/10/20220.0%
FX USD/CAD 04/220.000% 04/20/20220.0%
PERSIMMON MIDCO LLC0.000% -0.0%
Revlon Consumer Products Corp4.250% 06/30/20250.0%
Tonon Luxembourg SA6.500% 10/31/20240.0%
MIRABELA NICKEL LTD.1.000% 09/16/20440.0%
Washington Mutual Bank / Debt not acquired by JPMorgan6.875% 06/15/20110.0%
Dutch Lion BV11.250% 06/15/20200.0%
EURO-BUND FUTURE Jun220.000% 06/10/20220.0%
FX CAD/USD 04/220.000% 04/20/20220.0%
FX CAD/USD 04/220.000% 04/20/20220.0%
FX EUR/USD 06/220.000% 06/10/20220.0%
FX USD/CAD 04/220.000% 04/20/20220.0%
FX USD/CAD 04/220.000% 04/20/20220.0%
FX USD/EUR 06/220.000% 06/10/20220.0%
FX USD/CAD 04/220.000% 04/20/20220.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
Commercial Mortgage Backed Index Swap3.000% 09/17/20580.0%
LAC0.010% 12/31/20500.0%
FX USD/EUR 06/220.000% 06/10/20220.0%
US 2YR NOTE (CBT) Jun220.000% 07/06/2022-0.1%
US 10YR NOTE (CBT)Jun220.000% 06/30/2022-0.1%
US LONG BOND(CBT) Jun220.000% 06/30/2022-0.1%

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 03/31/2022

Sector Weighting Fund Change from Previous Quarter
Sector Weighting Fund Change from Previous Quarter
Energy arrowUp1.6%
Banking arrowDown0.5%
Retail arrowDown2.9%
Consumer Goods arrowDown1.6%
Insurance arrowUp0.1%
Real Estate arrowDown0.4%
Automotive arrowDown0.8%
Healthcare arrowUp3.1%
Services arrowUp0.8%
Capital Goods arrowDown0.1%
Telecommunications arrowUp0.9%
Basic Industry arrowUp0.4%
Media arrowDown0.4%
Leisure arrowUp1.9%
Other arrowDown0.2%
Technology & Electronics arrowDown0.9%
Transportation arrowDown0.6%
Financial Services arrowDown1.0%
^^ arrowUp0.1%
Utility arrowUp0.7%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 05/19/2022
$0.118
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 04/30/2022 $0.02992 $6.76
Daily Daily 03/31/2022 $0.03073 $7.04
Daily Daily 02/28/2022 $0.02989 $7.15
Daily Daily 01/31/2022 $0.02834 $7.29

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
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 $7.49
*

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 04/30/2022

1.18%

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.

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