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High Yield Fund

Daily price w/o sales charge as of 01/16/2019

$7.15

arrowUp$0.02

YTD Returns w/o sales charge as of 01/16/2019

3.43%

Overall Morningstar Ratings

High Yield Bond
as of 12/31/2018

Morningstar rated the Lord Abbett High Yield Fund class R3 share 3, 4 and 4 stars among 604, 507 and 329 High Yield Bond Funds for the overall rating and the 3, 5 and 10 year periods ended 12/31/2018, respectively.

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

Click here to view all legal text including risk information

Summary

Summary

What is the High Yield Fund?

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

A HERITAGE OF HIGH YIELD

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

 

AN OPPORTUNISTIC APPROACH

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

STRONG TRACK RECORD

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

Yield

Dividend Yield 1 as of 01/16/2019  

w/o sales charge 5.90%

30-Day Standardized Yield 2 as of 12/31/2018  

6.37%

Fund Basicsas of 12/31/2018

Total Net Assets
$6.03 B
Inception Date
09/28/2007
Dividend Frequency
Monthly
Fund Expense Ratio
1.19%
Number of Holdings
646
CUSIP
54400N706

Fund Expense Ratio :

1.19%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -5.49% -5.49% 5.73% 3.53% 10.28% 6.43%
Lipper Category Avg. High Yield Funds -2.84% -2.84% 5.49% 2.65% 9.25% -
ICE BofAML U.S. High Yield Constrained Index -2.27% -2.27% 7.27% 3.83% 11.02% 6.73%

Fund Expense Ratio :

1.19%

Fund Expense Ratio :

1.19%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -5.49% -5.49% 5.73% 3.53% 10.28% 6.43%
Lipper Category Avg. High Yield Funds -2.84% -2.84% 5.49% 2.65% 9.25% -
ICE BofAML U.S. High Yield Constrained Index -2.27% -2.27% 7.27% 3.83% 11.02% 6.73%

Fund Expense Ratio :

1.19%

Returns with sales charges reflect a maximum sales charge of 2.25%.

RELATED CONTENT

High Yield: Holding Up in 2018
August 6, 2018

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

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

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

Fixed Income: A Playbook for Rising Rates
December 26, 2017

Which types of taxable bonds historically have fared best in rising interest-rate environments?

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

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

Maturity Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

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

Credit Quality Distribution as of 12/31/2018 View Portfolio

Rating Assets
BBB
BB
B
<B
Not Rated

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the average rating based on numeric values assigned to each rating. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

Investment Team

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

18 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

28 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Managing Director & Portfolio Manager

11 Years of Industry Experience

Supported By 64 Investment Professionals with 15 Years Avg. Industry Experience

Contact a Representative

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

Performance

Performance

Dividend Yield 1 as of 01/16/2019  

w/o sales charge 5.90%

30-Day Standardized Yield 2 as of 12/31/2018  

  Subsidized3 Un-Subsidized4
w/o sales charge 6.37% 6.37%

Fund Expense Ratio :

1.19%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -5.49% -5.49% 5.73% 3.53% 10.28% 6.43%
Lipper Category Avg. High Yield Funds -2.84% -2.84% 5.49% 2.65% 9.25% -
ICE BofAML U.S. High Yield Constrained Index -2.27% -2.27% 7.27% 3.83% 11.02% 6.73%

Fund Expense Ratio :

1.19%

Fund Expense Ratio :

1.19%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -5.49% -5.49% 5.73% 3.53% 10.28% 6.43%
Lipper Category Avg. High Yield Funds -2.84% -2.84% 5.49% 2.65% 9.25% -
ICE BofAML U.S. High Yield Constrained Index -2.27% -2.27% 7.27% 3.83% 11.02% 6.73%

Fund Expense Ratio :

1.19%

Returns with sales charges reflect a maximum sales charge of 2.25%.

Year Fund Returns ICE BofAML U.S. High Yield Constrained Index
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% 4.37%
2010 13.96% 15.07%
2009 50.25% 58.10%
2008 -23.27% -
2007 1.67% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 - - - - 3.43%
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
Equity
Investment Grade Bonds
Convertibles
Other
Cash

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

Rating Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

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

Credit Quality Distribution as of 12/31/2018

Rating Assets
BBB
BB
B
<B
Not Rated

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the average rating based on numeric values assigned to each rating. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

Portfolio Positioning as of 9/30/2018

  • Despite continuing equity market volatility and oscillating Treasury yields during the quarter, high yield bonds posted positive returns, outperforming the higher quality market segment represented by the Bloomberg Barclays U.S. Aggregate Bond Index.
  • The portfolio is overweight the retail sector, as we believe a strong consumer, low unemployment, high consumer confidence, and an uptick in wage inflation is a tailwind for this sector.
  • The portfolio is overweight the energy sector. Within this sector, we have a constructive view on oil and gas prices, and our exposure lies mainly in the exploration and production as well as the offshore drilling segment of the market.
  • We increased the portfolio’s exposure to the health care sector due to improving volumes in the hospitals segment and improved overall sentiment in the industry.
  • The portfolio’s biggest underweight remains the telecom sector. In addition to secular issues faced by the wireline segment, idiosyncratic issues continue to plague major wireline companies.
  • As of quarter-end, the portfolio had modest allocations to out-of-index sectors, such as bank loans, convertibles, investment grade bonds, and equities. We believe select exposures to these sectors offer attractive risk-reward opportunities, potential portfolio diversification benefits and avenues for liquidity.

Portfolio Details as of 12/31/2018

Total Net Assets
$6.03 B
Number of Issues
646
Average Coupon
6.41%
Average Maturity
6.61 Years
Average Effective Duration
4.85 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 1.4%
HCA, Inc. 5.250% 06/15/2026 0.9%
T-Mobile USA, Inc. 6.500% 01/15/2026 0.9%
CenturyLink, Inc. 7.500% 04/01/2024 0.7%
Freeport-McMoRan, Inc. 3.875% 03/15/2023 0.7%
Tenet Healthcare Corp. 5.125% 05/01/2025 0.7%
CCO Holdings LLC / CCO Holdings Capital Corp. 5.750% 02/15/2026 0.6%
Bombardier, Inc. 7.500% 03/15/2025 0.6%
CCO Holdings LLC / CCO Holdings Capital Corp. 5.875% 04/01/2024 0.6%
Tesla Motors, Inc. 5.300% 08/15/2025 0.6%
% of Total Assets 7.7%

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

Holding Coupon Maturity Assets
Sprint Capital Corp.6.875% 11/15/20281.3%
HCA, Inc.5.250% 06/15/20260.9%
T-Mobile USA, Inc.6.500% 01/15/20260.8%
CenturyLink, Inc.7.500% 04/01/20240.8%
Freeport-McMoRan, Inc.3.875% 03/15/20230.7%
Tenet Healthcare Corp.5.125% 05/01/20250.6%
CCO Holdings LLC / CCO Holdings Capital Corp.5.750% 02/15/20260.6%
Bombardier, Inc.7.500% 03/15/20250.6%
CCO Holdings LLC / CCO Holdings Capital Corp.5.875% 04/01/20240.5%
HCA, Inc.5.500% 06/15/20470.5%
Numericable Group S.A.7.375% 05/01/20260.5%
Tesla Motors, Inc.5.300% 08/15/20250.5%
Netflix, Inc.3.625% 05/15/20270.5%
DISH DBS Corp.7.750% 07/01/20260.5%
Calpine Corp.5.750% 01/15/20250.5%
Albertsons Cos LLC / Safeway, Inc. / New Albertson6.625% 06/15/20240.5%
Netflix, Inc.5.875% 02/15/20250.5%
Ally Financial, Inc.8.000% 11/01/20310.5%
Valeant Pharmaceuticals International, Inc.8.500% 01/31/20270.5%
RegionalCare Hospital Partners Holdings Inc / Life9.750% 12/01/20260.5%
CCO Holdings LLC / CCO Holdings Capital Corp.5.875% 05/01/20270.4%
California Resources Corp.8.000% 12/15/20220.4%
CSC Holdings LLC5.500% 04/15/20270.4%
Valeant Pharmaceuticals International, Inc.5.875% 05/15/20230.4%
CSC Holdings LLC10.875% 10/15/20250.4%
WellCare Health Plans, Inc.5.250% 04/01/20250.4%
Navient Corp.6.125% 03/25/20240.4%
Peabody Energy Corp.6.375% 03/31/20250.4%
UPCB Finance Ltd.5.375% 01/15/20250.4%
Dell International LLC / EMC Corp6.020% 06/15/20260.4%
Navient Corp.6.750% 06/25/20250.4%
MEG Energy Corp.7.000% 03/31/20240.4%
Sirius XM Radio, Inc.5.000% 08/01/20270.4%
Valeant Pharmaceuticals International, Inc.4.500% 05/15/20230.4%
Transocean, Inc.7.500% 01/15/20260.3%
Cheniere Corpus Christi Holdings LLC5.125% 06/30/20270.3%
RBS Global & Rexnord Corp.4.875% 12/15/20250.3%
Rockies Express Pipeline LLC6.875% 04/15/20400.3%
CF Industries, Inc.5.150% 03/15/20340.3%
Centene Corp.4.750% 01/15/20250.3%
Teva Pharmaceutical Finance Netherlands III BV3.150% 10/01/20260.3%
Chesapeake Energy Corp.7.000% 10/01/20240.3%
CSL Capital, LLC8.250% 10/15/20230.3%
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell o5.000% 06/01/20240.3%
Equinix, Inc.2.875% 02/01/20260.3%
Clear Channel Worldwide Holdings, Inc.6.500% 11/15/20220.3%
Genworth Holdings Inc4.900% 08/15/20230.3%
Intelsat Jackson Holdings SA5.500% 08/01/20230.3%
Cheniere Corpus Christi Holdings LLC5.875% 03/31/20250.3%
Centene Corp.5.375% 06/01/20260.3%
Diamondback Energy, Inc.4.750% 11/01/20240.3%
Match Group, Inc.5.000% 12/15/20270.3%
Cliffs Natural Resources, Inc.5.750% 03/01/20250.3%
Ziggo BV5.500% 01/15/20270.3%
Tenet Healthcare Corp.6.750% 06/15/20230.3%
Valeant Pharmaceuticals International, Inc.5.625% 12/01/20210.3%
Cowlitz Tribal Gaming Authority12.845% 12/04/20200.3%
Noble Holding International Ltd.7.875% 02/01/20260.3%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.3%
Precision Drilling Corp.5.250% 11/15/20240.3%
Community Health Systems, Inc.8.000% 11/15/20190.3%
DKT Finance ApS9.375% 06/17/20230.3%
Rio Oil Finance Trust Series 2018-18.200% 04/06/20280.3%
Ingevity Corp.4.500% 02/01/20260.3%
Mueller Water Products, Inc.5.500% 06/15/20260.3%
MSCI, Inc.5.750% 08/15/20250.3%
Conn's, Inc.7.250% 07/15/20220.3%
Yingde Gases Investment Ltd6.250% 01/19/20230.3%
NRG Energy, Inc.5.750% 01/15/20280.3%
CIT Group, Inc.6.125% 03/09/20280.3%
Valeant Pharmaceuticals International, Inc.5.500% 03/01/20230.3%
CEC Entertainment, Inc.8.000% 02/15/20220.3%
Molina Healthcare, Inc.4.875% 06/15/20250.3%
DaVita, Inc.5.000% 05/01/20250.3%
Verscend Escrow Corp9.750% 08/15/20260.2%
Jonah Energy LLC / Jonah Energy Finance Corp7.250% 10/15/20250.2%
CONSOL Energy Inc11.000% 11/15/20250.2%
GCI LLC6.875% 04/15/20250.2%
Citgo Holding, Inc.10.750% 02/15/20200.2%
PetSmart, Inc.5.875% 06/01/20250.2%
Alta Mesa Holdings L.P. / Alta Mesa Finance Servic7.875% 12/15/20240.2%
Mclaren Finance PLC5.000% 08/01/20220.2%
Ashland, Inc.6.875% 05/15/20430.2%
Weight Watchers International, Inc.8.625% 12/01/20250.2%
Under Armour, Inc.3.250% 06/15/20260.2%
CCO Holdings LLC / CCO Holdings Capital Corp.5.125% 05/01/20270.2%
Alcoa Nederland Holding BV6.750% 09/30/20240.2%
Churchill Downs, Inc.4.750% 01/15/20280.2%
Tenet Healthcare Corp.4.625% 07/15/20240.2%
Denbury Resources, Inc.5.500% 05/01/20220.2%
HCA, Inc.8.360% 04/15/20240.2%
Pulte Group, Inc.5.000% 01/15/20270.2%
Con-way, Inc.6.700% 05/01/20340.2%
Cemig Geracao e Transmissao SA9.250% 12/05/20240.2%
Rede D'or Finance Sarl4.950% 01/17/20280.2%
Jagged Peak Energy LLC5.875% 05/01/20260.2%
Nationstar Mortgage Holdings, Inc.9.125% 07/15/20260.2%
Azul Investments LLP5.875% 10/26/20240.2%
Ball Corp.4.875% 03/15/20260.2%
Lennar Corp.4.750% 05/30/20250.2%
Deckers Outdoor Corp.0.000% -0.2%
Century Communities, Inc.5.875% 07/15/20250.2%
Blue Cube Spinco, Inc.10.000% 10/15/20250.2%
PGT Escrow Issuer Inc6.750% 08/01/20260.2%
99 Cents Only Stores7.386% 01/13/20220.2%
Hilton Domestic Operating Co, Inc.5.125% 05/01/20260.2%
Turkiye Sise ve Cam Fabrikalari AS4.250% 05/09/20200.2%
Sensata Technologies BV5.625% 11/01/20240.2%
Marble II Pte Ltd.5.300% 06/20/20220.2%
IRB Holding Corp6.750% 02/15/20260.2%
Sirius XM Radio, Inc.5.375% 07/15/20260.2%
Hill-Rom Holdings, Inc.5.000% 02/15/20250.2%
Baffinland Iron Mines Corp / Baffinland Iron Mines8.750% 07/15/20260.2%
Callon Petroleum Co.6.125% 10/01/20240.2%
Allison Transmission, Inc.5.000% 10/01/20240.2%
NGPL Pipeco LLC4.875% 08/15/20270.2%
United Rentals, Inc.4.875% 01/15/20280.2%
Cogent Communications Group, Inc.5.375% 03/01/20220.2%
Pulte Group, Inc.5.500% 03/01/20260.2%
Ortho-Clinical Diagnostics Inc / Ortho-Clinical Di6.625% 05/15/20220.2%
BankUnited, Inc.4.875% 11/17/20250.2%
SRC Energy Inc6.250% 12/01/20250.2%
Penn National Gaming, Inc.5.625% 01/15/20270.2%
Centennial Resource Production LLC5.375% 01/15/20260.2%
Service Corp. International4.625% 12/15/20270.2%
Berry Petroleum Co.7.000% 02/15/20260.2%
Eldorado Resorts, Inc.6.000% 04/01/20250.2%
AMC Networks, Inc.4.750% 08/01/20250.2%
Caesars Palace Las Vegas Trust 2017-VICI4.499% 10/15/20340.2%
Waste Pro USA Inc5.500% 02/15/20260.2%
Norbord, Inc.6.250% 04/15/20230.2%
Caesars Palace Las Vegas Trust 2017-VICI4.499% 10/15/20340.2%
J Crew Group Inc.5.591% 03/05/20210.2%
EW Scripps Co.5.125% 05/15/20250.2%
Enova International, Inc.8.500% 09/01/20240.2%
Exterran Energy Solutions L.P. / EES Finance Corp.8.125% 05/01/20250.2%
Rowan Companies, Inc.4.750% 01/15/20240.2%
Covanta Holding Corp.6.000% 01/01/20270.2%
Neiman Marcus Group Inc., The5.568% 10/25/20200.2%
Jurassic Holdings III, Inc.6.875% 02/15/20210.2%
Intelsat Jackson Holdings SA8.500% 10/15/20240.2%
TRI Pointe Homes LLC5.250% 06/01/20270.2%
Hillman Group, Inc.6.375% 07/15/20220.2%
Southwestern Energy Co.7.750% 10/01/20270.2%
SPX FLOW, Inc.5.625% 08/15/20240.2%
HCA, Inc.7.500% 12/15/20230.2%
Air Medical Group Holdings, Inc.6.375% 05/15/20230.2%
Britax Childcare4.500% 10/15/20200.2%
Belo Corp.7.250% 09/15/20270.2%
HCA, Inc.5.250% 04/15/20250.2%
Gray Escrow Inc7.000% 05/15/20270.2%
Intertape Polymer Group Inc7.000% 10/15/20260.2%
Toll Brothers Finance Corp.4.875% 03/15/20270.2%
NextEra Energy Operating Partners LP4.500% 09/15/20270.2%
WPX Energy, Inc.5.250% 09/15/20240.2%
Yum! Brands, Inc.5.350% 11/01/20430.2%
AMC Networks, Inc.5.000% 04/01/20240.2%
EP Energy LLC8.000% 11/29/20240.2%
Rumo Luxembourg Sarl7.375% 02/09/20240.2%
CSI Compressco LP / CSI Compressco Finance Inc7.500% 04/01/20250.2%
AES Red Oak LLC9.200% 11/30/20290.2%
Lamb Weston Holdings, Inc.4.625% 11/01/20240.2%
Curo Group Holdings Corp8.250% 09/01/20250.2%
Cheniere Energy Partners LP5.625% 10/01/20260.2%
MEG Energy Corp.6.500% 01/15/20250.2%
Williams Scotsman International Inc7.875% 12/15/20220.2%
FAGE International SA/ FAGE USA Dairy Industry Inc5.625% 08/15/20260.2%
Gray Television, Inc.5.875% 07/15/20260.2%
Autopistas del Sol SA/Costa Rica7.375% 12/30/20300.2%
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell o4.750% 06/01/20270.2%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.2%
SPCM S.A.4.875% 09/15/20250.2%
Netflix, Inc.4.625% 05/15/20290.2%
Chaparral Energy, Inc.8.750% 07/15/20230.2%
Wendy's International, Inc.7.000% 12/15/20250.2%
Enterprise Development Authority/The12.000% 07/15/20240.2%
Rain CII Carbon LLC7.250% 04/01/20250.2%
Sinclair Broadcast Group, Inc.5.875% 03/15/20260.2%
Ingles Markets, Inc.5.750% 06/15/20230.2%
Texas Capital Bank NA/Dallas TX5.250% 01/31/20260.2%
OCI NV6.625% 04/15/20230.2%
Summit Materials LLC5.125% 06/01/20250.2%
DaVita, Inc.5.125% 07/15/20240.2%
HLF Financing Sarl LLC / Herbalife International I7.250% 08/15/20260.2%
Hunt Oil Co of Peru LLC Sucursal Del Peru6.375% 06/01/20280.2%
Barminco Finance Pty Ltd.6.625% 05/15/20220.2%
Marriott Ownership Resorts Inc / ILG LLC6.500% 09/15/20260.2%
William Lyon Homes, Inc.6.000% 09/01/20230.2%
Orchestra Borrower LLC / Orchestra Co-Issuer Inc6.750% 06/15/20220.2%
Magnolia Oil & Gas Operating LLC / Magnolia Oil &6.000% 08/01/20260.2%
Popular, Inc.6.125% 09/14/20230.2%
Univision Communications, Inc.5.125% 05/15/20230.2%
Twilio, Inc.0.250% 06/01/20230.2%
Bahia Sul Holdings GmbH6.000% 01/15/20290.2%
Williams Scotsman International Inc6.875% 08/15/20230.2%
Aegea Finance Sarl5.750% 10/10/20240.2%
Provincia de Rio Negro7.750% 12/07/20250.2%
Vistra Operations Co LLC5.500% 09/01/20260.2%
Ladder Capital Finance Holdings LLC/Ladder Capital5.250% 10/01/20250.2%
j2 Cloud Services LLC / j2 Global Co-Obligor Inc6.000% 07/15/20250.2%
Pharmaceutical Product Development LLC6.375% 08/01/20230.2%
Pactiv Corp.7.950% 12/15/20250.2%
Rumo Luxembourg Sarl5.875% 01/18/20250.2%
Provincia de la Rioja9.750% 02/24/20250.2%
Meredith Corp.6.875% 02/01/20260.2%
InterXion Holding NV4.750% 06/15/20250.2%
Jacobs Entertainment, Inc.7.875% 02/01/20240.2%
L Brands, Inc.5.250% 02/01/20280.2%
Salem Communications Corp.6.750% 06/01/20240.2%
Eterna Capital Pte Ltd8.000% 12/11/20220.2%
Mattel, Inc.6.750% 12/31/20250.2%
Stonegate Pub Company Financing PLC4.875% 03/15/20220.2%
CNO Financial Group, Inc.5.250% 05/30/20250.2%
VeriSign, Inc.5.250% 04/01/20250.2%
William Lyon Homes, Inc.5.875% 01/31/20250.2%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.2%
Millicom International Cellular S.A.6.625% 10/15/20260.2%
Pisces Midco Inc8.000% 04/15/20260.2%
Everi Payments Inc7.500% 12/15/20250.2%
KOC Holding AS5.250% 03/15/20230.2%
Fair Isaac Corp.5.250% 05/15/20260.2%
Cheniere Energy Partners LP5.250% 10/01/20250.2%
Murphy Oil USA, Inc.5.625% 05/01/20270.2%
Southern Star Central Corp.5.125% 07/15/20220.2%
Covey Park Energy LLC / Covey Park Finance Corp7.500% 05/15/20250.2%
Surgery Center Holdings, Inc.6.750% 07/01/20250.2%
Aston Martin Capital Holdings Ltd6.500% 04/15/20220.2%
Promontoria Holding 264 BV6.750% 08/15/20230.2%
Ashton Woods USA LLC / Ashton Woods Finance Co.6.750% 08/01/20250.2%
Booz Allen Hamilton, Inc.5.125% 05/01/20250.2%
Horizon Pharma USA Inc8.750% 11/01/20240.2%
Mohegan Tribal Gaming Authority7.875% 10/15/20240.2%
Targa Resources Partners L.P.5.875% 04/15/20260.2%
BCD Acquisition, Inc.9.625% 09/15/20230.2%
Apergy Corp6.375% 05/01/20260.2%
Blitz F18-674 GmbH6.000% 07/30/20260.2%
Forum Energy Technologies, Inc.6.250% 10/01/20210.2%
Versum Materials, Inc.5.500% 09/30/20240.2%
General Motors Co.5.000% 10/01/20280.2%
WildHorse Resource Development Corp6.875% 02/01/20250.1%
Tullow Oil plc7.000% 03/01/20250.1%
ESH Hospitality, Inc.5.250% 05/01/20250.1%
Tenet Healthcare Corp.7.000% 08/01/20250.1%
WeWork Cos Inc7.875% 05/01/20250.1%
Itron, Inc.5.000% 01/15/20260.1%
Inter Media and Communication SpA4.875% 12/31/20220.1%
Forming Machining Indust6.851% 10/09/20250.1%
Indigo Natural Resources LLC6.875% 02/15/20260.1%
Wolverine World Wide, Inc.5.000% 09/01/20260.1%
MGIC Investment Corp.5.750% 08/15/20230.1%
Polaris Intermediate Corp8.500% 12/01/20220.1%
Matterhorn Merger Sub LLC / Matterhorn Finance Sub8.500% 06/01/20260.1%
MPH Acquisition Holdings LLC7.125% 06/01/20240.1%
Hub International Ltd.7.000% 05/01/20260.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.000% 12/01/20240.1%
JB Poindexter & Co., Inc.7.125% 04/15/20260.1%
Boyne USA Inc7.250% 05/01/20250.1%
Del Frisco's Restaurant Grou8.375% 06/27/20250.1%
ADT Corp.4.875% 07/15/20320.1%
Hema Bondco II BV8.500% 01/15/20230.1%
Acrisure LLC / Acrisure Finance Inc7.000% 11/15/20250.1%
Rockpoint Gas Storage Canada Ltd7.000% 03/31/20230.1%
Deck Chassis Acquisition, Inc.10.000% 06/15/20230.1%
Warrior Met Coal Inc8.000% 11/01/20240.1%
Intelsat Connect Finance SA9.500% 02/15/20230.1%
Teleflex, Inc.4.875% 06/01/20260.1%
New Home Co, Inc./The7.250% 04/01/20220.1%
Quicken Loans Inc5.250% 01/15/20280.1%
Sealed Air Corp.6.875% 07/15/20330.1%
Buena Vista Gaming Authority13.000% 04/01/20230.1%
Mercer International, Inc.5.500% 01/15/20260.1%
NSG Holdings LLC / NSG Holdings, Inc.7.750% 12/15/20250.1%
CDW Corp.5.500% 12/01/20240.1%
Bristow Group, Inc.8.750% 03/01/20230.1%
Targa Resources Partners L.P.5.375% 02/01/20270.1%
APX Group, Inc.7.625% 09/01/20230.1%
SM Energy Co.6.750% 09/15/20260.1%
York Risk Services Holding Corp8.500% 10/01/20220.1%
Geo Group, Inc.6.000% 04/15/20260.1%
Hawaiian Airlines Class B Pass Through Certificate4.950% 01/15/20220.1%
Carrizo Oil & Gas, Inc.8.250% 07/15/20250.1%
Mobile Mini, Inc.5.875% 07/01/20240.1%
Garda World Security Corp8.750% 05/15/20250.1%
Lamb Weston Holdings, Inc.4.875% 11/01/20260.1%
Dutch Lion BV11.250% 06/15/20200.1%
TopBuild Corp.5.625% 05/01/20260.1%
Gibson Brands, Inc.8.875% 08/01/20190.1%
Range Resources Corp.4.875% 05/15/20250.1%
Ahern Rentals, Inc.7.375% 05/15/20230.1%
Clearway Energy Operating LLC5.750% 10/15/20250.1%
MasTec, Inc.4.875% 03/15/20230.1%
Banff Merger Sub Inc8.375% 09/01/20260.1%
Fresh Market, Inc.9.750% 05/01/20230.1%
CenturyLink, Inc.5.625% 04/01/20250.1%
Shea Homes LP / Shea Homes Funding Corp.6.125% 04/01/20250.1%
AES Corp.4.500% 03/15/20230.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.750% 10/01/20250.1%
Buenos Aires, Argentina7.500% 06/01/20270.1%
Mercer International, Inc.7.375% 01/15/20250.1%
ACE Cash Express Inc12.000% 12/15/20220.1%
WPX Energy, Inc.5.750% 06/01/20260.1%
Monro Muffler Brake, Inc.0.000% -0.1%
Laureate Education, Inc.8.250% 05/01/20250.1%
Hill-Rom Holdings, Inc.5.750% 09/01/20230.1%
Flex Acquisition Co Inc7.875% 07/15/20260.1%
Targa Resources Partners L.P.4.250% 11/15/20230.1%
AECOM5.125% 03/15/20270.1%
Post Holdings, Inc.5.500% 03/01/20250.1%
QuickSilver Inc.8.350% 04/08/20240.1%
B&G Foods, Inc.5.250% 04/01/20250.1%
Elwood Energy LLC8.159% 07/05/20260.1%
Transocean Proteus Ltd.6.250% 12/01/20240.1%
Trident Merger Sub Inc6.625% 11/01/20250.1%
Antero Midstream Partners L.P. / Antero Midstream5.375% 09/15/20240.1%
Sanchez Energy Corp.7.250% 02/15/20230.1%
TreeHouse Foods, Inc.6.000% 02/15/20240.1%
Chesapeake Energy Corp.7.500% 10/01/20260.1%
Permian Resources LLC / AEPB Finance Corp.13.000% 11/30/20200.1%
Etsy, Inc.0.000% 03/01/20230.1%
Central Garden & Pet Co.5.125% 02/01/20280.1%
24 Hour Fitness Worldwide, Inc.8.000% 06/01/20220.1%
Rio Energy SA / UGEN SA / UENSA SA6.875% 02/01/20250.1%
Merlin Entertainments PLC5.750% 06/15/20260.1%
Steel Dynamics, Inc.5.000% 12/15/20260.1%
Sirius XM Radio, Inc.6.000% 07/15/20240.1%
Energizer Gamma Acquisition Inc6.375% 07/15/20260.1%
Banff Merger Sub Inc9.750% 09/01/20260.1%
Numericable Group S.A.8.125% 02/01/20270.1%
GOBP Holdings Inc.9.658% 10/22/20260.1%
W&T Offshore, Inc.9.750% 11/01/20230.1%
Tesla Motors, Inc.1.250% 03/01/20210.1%
Tempo Acquisition LLC / Tempo Acquisition Finance6.750% 06/01/20250.1%
Glaukos Corp.0.000% -0.1%
Parsley Energy LLC6.250% 06/01/20240.1%
Pulte Group, Inc.6.375% 05/15/20330.1%
Commercial Metals Co.5.375% 07/15/20270.1%
Ritchie Bros Auctioneers, Inc.5.375% 01/15/20250.1%
PF Chang's China Bistro, Inc.10.250% 06/30/20200.1%
HealthEquity, Inc.0.000% -0.1%
Denbury Resources, Inc.4.625% 07/15/20230.1%
Novelis Corp.6.250% 08/15/20240.1%
Allegheny Technologies, Inc.7.875% 08/15/20230.1%
AES Corp.5.125% 09/01/20270.1%
Hulk Finance Corp7.000% 06/01/20260.1%
Province of Santa Fe6.900% 11/01/20270.1%
Extraction Oil & Gas Inc7.375% 05/15/20240.1%
PPL Energy Supply LLC4.600% 12/15/20210.1%
Eldorado Intl. Finance GmbH8.625% 06/16/20210.1%
AHP Health Partners Inc9.750% 07/15/20260.1%
Hilton Domestic Operating Co, Inc.4.250% 09/01/20240.1%
Central American Bottling Corp.5.750% 01/31/20270.1%
Kuehg Corp10.636% 08/15/20250.1%
Everbridge, Inc.1.500% 11/01/20220.1%
Brink's Co/The4.625% 10/15/20270.1%
Holly Energy Partners L.P. / Holly Energy Finance6.000% 08/01/20240.1%
TGP Holdings III LLC10.886% 09/20/20250.1%
Yak Access LLC12.318% 07/10/20260.1%
Five9, Inc.0.125% 05/01/20230.1%
Dynagas LNG Partners L.P.6.250% 10/30/20190.1%
FireEye, Inc.0.875% 06/01/20240.1%
Kernel Holding SA8.750% 01/31/20220.1%
Gateway Casinos & Entertainment Ltd8.250% 03/01/20240.1%
Werner FinCo LP / Werner FinCo Inc8.750% 07/15/20250.1%
Madison Square Garden Co.0.000% -0.1%
Fogo De Chao Inc6.648% 04/07/20250.1%
CVR Partners LP / CVR Nitrogen Finance Corp9.250% 06/15/20230.1%
Navicure Inc9.845% 10/31/20250.1%
Triumph Group, Inc.5.250% 06/01/20220.1%
Darling Global Finance BV3.625% 05/15/20260.1%
WTT Investment Ltd/Hong Kong5.500% 11/21/20220.1%
Endeavor Energy Resources L.P.5.500% 01/30/20260.1%
Cardtronics Inc / Cardtronics USA Inc5.500% 05/01/20250.1%
Alliant Holdings Intermediate LLC8.250% 08/01/20230.1%
SPX FLOW, Inc.5.875% 08/15/20260.1%
Eclipse Resources Corp.8.875% 07/15/20230.1%
Golar LNG Partners L.P.8.564% 05/18/20210.1%
Beacon Roofing Supply, Inc.4.875% 11/01/20250.1%
KGA Escrow LLC7.500% 08/15/20230.1%
Murphy Oil Corp.6.875% 08/15/20240.1%
Wabash National Corp.5.500% 10/01/20250.1%
Qorvo, Inc.5.500% 07/15/20260.1%
EnerSys5.000% 04/30/20230.1%
Lamar Media Corp.5.750% 02/01/20260.1%
SM Energy Co.6.625% 01/15/20270.1%
Southern Graphics Inc9.845% 11/22/20230.1%
Americold Realty Trust0.000% -0.1%
Valeant Pharmaceuticals International, Inc.7.000% 03/15/20240.1%
Lennar Corp.4.500% 04/30/20240.1%
DPL, Inc.7.250% 10/15/20210.1%
Sally Holdings LLC / Sally Capital, Inc.5.625% 12/01/20250.1%
Shake Shack, Inc.0.000% -0.1%
W/S Packaging Holdings Inc9.000% 04/15/20230.1%
JBS USA LLC/JBS USA Finance, Inc.5.875% 07/15/20240.1%
Great Lakes Dredge & Dock Corp.8.000% 05/15/20220.1%
OM Asset Management plc4.800% 07/27/20260.1%
Stena AB7.000% 02/01/20240.1%
FPC Holdings Inc11.386% 11/19/20220.1%
Community Health Systems, Inc.5.125% 08/01/20210.1%
Elanco Animal Health Inc4.900% 08/28/20280.1%
Transocean Phoenix 2 Ltd.7.750% 10/15/20240.1%
Helix Gen Funding, LLC6.095% 06/03/20240.1%
Provincia de Mendoza Argentina8.375% 05/19/20240.1%
Longview Power8.530% 03/25/20210.1%
MRP Generation Holdings LLC9.359% 10/18/20220.1%
MPT Operating Partnership L.P.5.000% 10/15/20270.1%
JBS USA LLC/JBS USA Finance, Inc.6.750% 02/15/20280.1%
Stars Group Holdings BV / Stars Group US Co-Borrow7.000% 07/15/20260.1%
Canada Goose Holdings Inc0.000% -0.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.6.250% 11/01/20280.1%
Live Nation Entertainment, Inc.5.625% 03/15/20260.1%
Denbury Resources, Inc.9.000% 05/15/20210.1%
MHP Lux SA6.950% 04/03/20260.1%
Medical Properties Trust Inc0.000% -0.1%
Ecolab, Inc.0.000% -0.1%
Taylor Morrison Communities Inc6.625% 05/15/20220.1%
Nokia Corp.4.375% 06/12/20270.1%
Southwestern Energy Co.7.500% 04/01/20260.1%
Altran Technologies9.095% 06/26/20260.1%
MGM Growth Properties Operating Partnership LP / M5.625% 05/01/20240.1%
VM Holding SA5.375% 05/04/20270.1%
Eaglepicher Tech LLC9.595% 03/09/20260.1%
Grinding Media, Inc. / MC Grinding Media Canada, I7.375% 12/15/20230.1%
ServiceMaster Co LLC/The5.125% 11/15/20240.1%
Crosby Group (KKR)5.306% 11/22/20200.1%
Sotheby's4.875% 12/15/20250.1%
Louisiana-Pacific Corp.4.875% 09/15/20240.1%
Twitter, Inc.0.250% 06/15/20240.1%
Bill Barrett Corp.7.000% 10/15/20220.1%
Guitar Center Escrow Issuer Inc9.500% 10/15/20210.1%
Asbury Automotive Group, Inc.6.000% 12/15/20240.1%
DIRECT CHASSISLINK INC8.527% 06/15/20230.1%
Tilray Inc5.000% 10/01/20230.1%
Frontera Generation Hold6.564% 05/02/20250.1%
Brunello Cucinelli SpA0.000% -0.1%
Revlon, Inc. Class A5.571% 09/07/20230.1%
Nine Energy Service Inc8.750% 11/01/20230.1%
Centene Corp.6.125% 02/15/20240.1%
Casella Waste Systems, Inc.0.000% -0.1%
Malibu Boats, Inc.0.000% -0.1%
First Data Corp.5.750% 01/15/20240.1%
Geopark Ltd.6.500% 09/21/20240.1%
AES Corp.0.000% -0.1%
VOC Escrow Ltd5.000% 02/15/20280.1%
H&E Equipment Services, Inc.5.625% 09/01/20250.1%
Algeco Scotsman Global Finance plc8.000% 02/15/20230.1%
Mosaic Co.0.000% -0.1%
Stevens Holding Co Inc6.125% 10/01/20260.1%
Cloud Crane LLC10.125% 08/01/20240.1%
Provincia de Cordoba7.450% 09/01/20240.1%
Charles River Laboratories International, Inc.5.500% 04/01/20260.1%
Petco Animal Supplies, Inc.5.592% 01/26/20230.1%
GE Capital International Funding Co.3.373% 11/15/20250.1%
Sempra Energy0.000% 01/15/20210.1%
Performance Food Group, Inc.5.500% 06/01/20240.1%
TPC Group, Inc.8.750% 12/15/20200.1%
Six Flags Entertainment Corp.5.500% 04/15/20270.1%
Excelitas Technologies9.967% 11/15/20250.1%
Summit Materials, Inc.0.000% -0.1%
West Street Merger Sub Inc6.375% 09/01/20250.1%
Canopy Growth Corp4.250% 07/15/20230.1%
Six Flags Entertainment Corp.4.875% 07/31/20240.1%
Eldorado Resorts, Inc.6.000% 09/15/20260.1%
CMA CGM SA5.250% 01/15/20250.1%
Flynn Restaurant Group9.299% 06/29/20260.1%
Sandy Creek Energy Associates5.000% 11/09/20200.1%
AssuredPartners Inc7.000% 08/15/20250.1%
SeaWorld Entertainment, Inc.0.000% -0.1%
Tupras Turkiye Petrol Rafine4.500% 10/18/20240.1%
International Flavors & Fragrances, Inc.0.000% 09/15/20210.1%
BWAY Holding Co.7.250% 04/15/20250.1%
Swordfish Merger Sub LLC9.070% 02/02/20260.1%
Discovery Communications, Inc.0.000% -0.1%
Commercial Barge Line11.095% 11/12/20200.1%
NVA Holdings Inc/United States6.875% 04/01/20260.1%
Container Store7.345% 09/14/20230.1%
GCP Applied Technologies, Inc.5.500% 04/15/20260.1%
Provident Funding Associates L.P. / PFG Finance Co6.375% 06/15/20250.1%
DTE Energy Co.0.000% 10/01/20190.1%
RegionalCare Hospital Partners Holdings Inc8.250% 05/01/20230.1%
Novelis Corp.5.875% 09/30/20260.1%
Macquarie Bank Ltd./London6.125% 03/08/21670.1%
Compass Minerals International, Inc.4.875% 07/15/20240.1%
Stoneway Capital Corp10.000% 03/01/20270.1%
Powerteam Services LLC9.636% 03/06/20260.1%
North American Lifting Holdings, Inc. (aka TNT Crane & Rigging, Inc)11.386% 11/26/20210.1%
Sugarhouse HSP Gaming Prop Mezz LP/Fin Corp.5.875% 05/15/20250.1%
Mattel, Inc.5.450% 11/01/20410.1%
Dole Food Co., Inc.7.250% 06/15/20250.1%
Radiate Holdco LLC / Radiate Finance Inc6.625% 02/15/20250.1%
Terraform Global Operating LLC6.125% 03/01/20260.1%
Hunt Cos Inc6.250% 02/15/20260.1%
Aerojet Rocketdyne Holdings, Inc.2.250% 12/15/20230.1%
Five Below, Inc.0.000% -0.1%
DexCom, Inc.0.750% 05/15/20220.1%
Tallgrass Energy Partners LP / Tallgrass Energy Fi4.750% 10/01/20230.1%
Navistar International Corp.6.625% 11/01/20250.1%
Vistra Energy Corp0.000% -0.1%
Republic of Argentina6.875% 04/22/20210.1%
Brown & Brown, Inc.0.000% -0.1%
Cargurus Inc0.000% -0.1%
Gulfport Energy Corp.6.375% 01/15/20260.1%
Rowan Companies, Inc.7.375% 06/15/20250.1%
Rayonier AM Products, Inc.5.500% 06/01/20240.1%
Inmarsat Finance plc6.500% 10/01/20240.1%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.1%
Republic of Argentina5.625% 01/26/20220.1%
Weibo Corp.1.250% 11/15/20220.1%
Gulfport Energy Corp.6.375% 05/15/20250.1%
Colorado Buyer, Inc.9.570% 05/01/20250.1%
WMG Acquisition Corp.5.000% 08/01/20230.1%
Bruin E&P Partners LLC8.875% 08/01/20230.1%
Enova International, Inc.8.500% 09/15/20250.1%
Prime Security Services Borrower LLC / Prime Finan9.250% 05/15/20230.1%
Hadrian Merger Sub Inc8.500% 05/01/20260.1%
Station Casinos LLC5.000% 10/01/20250.1%
Alaska Air Group, Inc.0.000% -0.1%
Pyxus International Inc9.875% 07/15/20210.1%
BBA US Holdings Inc5.375% 05/01/20260.1%
United Rentals, Inc.4.625% 10/15/20250.1%
eDreams ODIGEO SL5.500% 09/01/20230.1%
Sprouts Farmers Markets LLC0.000% -0.1%
Levi Strauss & Co.3.375% 03/15/20270.1%
MongoDB Inc0.750% 06/15/20240.1%
PVH Corp.3.125% 12/15/20270.1%
Plains All American Pipeline L.P.6.125% 12/31/20990.1%
Moxie Patriot LLC8.136% 12/19/20200.1%
Cheniere Corpus Christi Holdings LLC7.000% 06/30/20240.1%
Ensco plc4.500% 10/01/20240.1%
Oceaneering International, Inc.4.650% 11/15/20240.1%
Ulta Beauty Inc0.000% -0.1%
Belk, Inc.5.750% 12/12/20220.1%
Teva Pharmaceutical Finance Netherlands II BV1.875% 03/31/20270.1%
Range Resources Corp.0.000% -0.1%
SM Energy Co.5.625% 06/01/20250.1%
Boston Beer Co., Inc.0.000% -0.1%
Level 3 Financing, Inc.5.250% 03/15/20260.1%
Monitronics International, Inc.9.125% 04/01/20200.1%
Western Digital Corp.4.750% 02/15/20260.1%
KeHE Distributors LLC / KeHE Finance Corp.7.625% 08/15/20210.1%
Aerovironment, Inc.0.000% -0.1%
Wyndham Worldwide Corp.6.350% 10/01/20250.1%
Claire's Stores, Inc.0.000% 03/15/20190.1%
AMC Entertainment Holdings, Inc.5.875% 11/15/20260.1%
Ensco plc5.200% 03/15/20250.1%
CIBT Solutions, Inc.9.210% 06/01/20250.1%
Ascena Retail Group, Inc.6.875% 08/21/20220.1%
Altice Luxembourg SA7.750% 05/15/20220.1%
Boyd Gaming Corp.6.000% 08/15/20260.1%
Optimas OE Solutions Holding LLC / Optimas OE Solu8.625% 06/01/20210.1%
Kenan Advantage Group, Inc.7.875% 07/31/20230.1%
Imperial Metals Corp.7.000% 03/15/20190.1%
Acadia Healthcare Co., Inc.5.625% 02/15/20230.1%
LBC Tank Terminals Holding Netherlands BV6.875% 05/15/20230.1%
General Motors Financial Co., Inc.3.850% 01/05/20280.1%
Freedom Mortgage Corp8.250% 04/15/20250.1%
Eletson Holdings Inc / Eletson Finance US LLC / Ag9.625% 01/15/20220.1%
Hot Topic, Inc.9.250% 06/15/20210.1%
Toll Brothers Finance Corp.4.350% 02/15/20280.1%
Griffon Corp.5.250% 03/01/20220.1%
JD Power & Associates9.500% 06/09/20240.1%
Steel Dynamics, Inc.4.125% 09/15/20250.1%
HCA, Inc.5.375% 02/01/20250.1%
VF Holding Corp9.595% 07/02/20260.1%
Star West Generation8.529% 03/13/20200.1%
Air Canada 2015-2 Class B Pass Through Trust5.000% 12/15/20230.1%
Joseph T Ryerson & Son, Inc.11.000% 05/15/20220.1%
Medplast Holdings Inc10.148% 06/22/20260.1%
Gray Television, Inc.5.125% 10/15/20240.1%
Clearway Energy Operating LLC5.000% 09/15/20260.1%
Paprec Holding SA4.000% 03/31/20250.1%
Mexichem SAB de CV5.875% 09/17/20440.1%
HCA, Inc.5.875% 03/15/20220.1%
Ensco plc7.750% 02/01/20260.1%
AMC Entertainment Holdings, Inc.6.125% 05/15/20270.1%
Bulldog Purchaser Inc10.095% 09/04/20260.1%
Gibson Brands, Inc11.773% 05/01/20190.1%
Freedom Mortgage Corp8.125% 11/15/20240.1%
High Ridge Brands Co.8.875% 03/15/20250.1%
UC Holdings0.000% -0.1%
HCA, Inc.7.690% 06/15/20250.1%
CIT Group, Inc.5.250% 03/07/20250.1%
Noble Holding International Ltd.6.200% 08/01/20400.1%
Transocean Pontus Ltd6.125% 08/01/20250.1%
Wyndham Worldwide Corp.5.750% 04/01/20270.1%
PDC Energy, Inc.6.125% 09/15/20240.1%
Simmons Foods, Inc.7.750% 01/15/20240.1%
Banco de Galicia y Buenos Aires8.250% 07/19/20260.1%
Teleflex, Inc.4.625% 11/15/20270.1%
William Lyon Homes, Inc.7.000% 08/15/20220.1%
Cenovus Energy, Inc.4.450% 09/15/20420.1%
Oceaneering International, Inc.6.000% 02/01/20280.1%
Univision Communications, Inc.5.125% 02/15/20250.1%
Delhi International Airport Pvt Ltd6.125% 10/31/20260.1%
Panda Temple Power, LLC9.800% 02/07/20230.1%
LGI Homes, Inc.0.000% -0.1%
Ensco plc5.750% 10/01/20440.1%
Unit Corp.6.625% 05/15/20210.1%
Albertsons Cos LLC / Safeway, Inc. / New Albertson5.750% 03/15/20250.1%
Pioneer Energy Services Corp.6.125% 03/15/20220.1%
CF Industries, Inc.4.950% 06/01/20430.0%
Intelsat SA4.500% 06/15/20250.0%
EP Energy LLC8.000% 02/15/20250.0%
Piaggio & C SpA3.625% 04/30/20250.0%
MSCI, Inc.5.375% 05/15/20270.0%
Trimas Corp.4.875% 10/15/20250.0%
Manchester United Plc0.000% -0.0%
Builders FirstSource, Inc.5.625% 09/01/20240.0%
CIT Group, Inc.6.000% 04/01/20360.0%
California Resources Crp7.065% 11/17/20220.0%
Sinclair Broadcast Group, Inc.5.125% 02/15/20270.0%
CSI Compressco LP / CSI Compressco Finance Inc7.250% 08/15/20220.0%
FX USD/EUR 12/180.000% 12/07/20180.0%
Lennar Corp.4.750% 11/29/20270.0%
Bulldog Purchaser Inc.3.875% 08/21/20260.0%
Cumberland Farms Inc6.750% 05/01/20250.0%
Chaparral Energy, Inc.0.000% -0.0%
Grupo Cementos de Chihuahua SAB de CV5.250% 06/23/20240.0%
Clearway Energy Operating LLC5.375% 08/15/20240.0%
Gopher Sub, Inc.9.095% 02/02/20260.0%
Delek Logistics Partners LP / Delek Logistics Fina6.750% 05/15/20250.0%
Claire's Stores, Inc.14.000% 09/05/20380.0%
HCA, Inc.5.875% 02/15/20260.0%
Universal Health Services, Inc.5.000% 06/01/20260.0%
Claire's Stores Inc.0.000% 09/15/20380.0%
Remington Outdoor Co. Inc.0.000% -0.0%
Chaparral Energy, Inc.0.000% -0.0%
Netflix, Inc.4.875% 04/15/20280.0%
Turning Point Brands Inc0.000% -0.0%
FX USD/GBP 12/180.000% 12/05/20180.0%
Credit Default Swap1.000% 06/20/20230.0%
FGI Operating Company, LLC0.000% 05/15/20220.0%
Templar Energy LLC0.000% -0.0%
Credit Default Swap1.000% 06/20/20230.0%
FX USD/EUR 12/180.000% 12/07/20180.0%
Credit Default Swap1.000% 06/20/20200.0%
Credit Default Swap1.000% 06/20/20230.0%
Credit Default Swap1.000% 06/20/20230.0%
FX USD/EUR 12/180.000% 12/07/20180.0%
Credit Default Swap1.000% 06/20/20230.0%
Tonon Luxembourg S.A.10.500% 05/14/20240.0%
FX USD/EUR 12/180.000% 12/07/20180.0%
Templar Energy LLC0.000% -0.0%
FX USD/EUR 12/180.000% 12/07/20180.0%
FX USD/EUR 02/190.000% 02/19/20190.0%
FX USD/CAD 12/180.000% 12/06/20180.0%
FX USD/EUR 12/180.000% 12/07/20180.0%
FX USD/EUR 12/180.000% 12/07/20180.0%
FX USD/GBP 12/180.000% 12/05/20180.0%
Morgan Stanley Capital I Trust5.510% 07/15/20560.0%
Interest Rate Swap0.000% 03/20/20190.0%
FX USD/EUR 12/180.000% 12/07/20180.0%
Credit Default Swap1.000% 06/20/20230.0%
FX USD/EUR 12/180.000% 12/07/20180.0%
Credit Default Swap1.000% 06/20/20230.0%
FX USD/CAD 12/180.000% 12/06/20180.0%
Rack Holdings9.560% 10/03/20220.0%
FX USD/EUR 12/180.000% 12/07/20180.0%
Credit Default Swap1.000% 06/20/20230.0%
Penson Technologies LLC0.000% -0.0%
Credit Default Swap1.000% 06/20/20230.0%
FX USD/EUR 12/180.000% 12/07/20180.0%
FX USD/EUR 12/180.000% 12/07/20180.0%
Credit Default Swap1.000% 06/20/20230.0%
Credit Default Swap1.000% 06/20/20230.0%
Fairway Group Holdings Corp.0.000% 11/24/20230.0%
Fairway Group Holdings Corp.0.000% 02/24/20240.0%
Afren plc6.625% 12/09/20200.0%
FX USD/EUR 12/180.000% 12/07/20180.0%
FX USD/EUR 12/180.000% 12/07/20180.0%
Afren plc11.500% 02/01/20160.0%
Afren plc10.250% 04/08/20190.0%
FX USD/EUR 12/180.000% 12/07/20180.0%
FX USD/EUR 12/180.000% 12/07/20180.0%
FX USD/EUR 12/180.000% 12/07/20180.0%
FX USD/CAD 12/180.000% 12/06/20180.0%
FX USD/EUR 12/180.000% 12/07/20180.0%
US 10YR NOTE (CBT)MAR190.000% 03/29/20190.0%
US 5YR NOTE (CBT) MAR190.000% 04/03/20190.0%
US ULTRA BOND CBT MAR190.000% 03/29/20190.0%
US LONG BOND(CBT) MAR190.000% 03/29/20190.0%
FX USD/CAD 12/180.000% 12/06/20180.0%
FX EUR/USD 12/180.000% 12/07/20180.0%
Mirabela Nickel Ltd.1.000% 09/16/20440.0%
Washington Mutual, Inc.6.875% 06/15/20110.0%
General Motors Co.7.200% 01/15/20490.0%
Momentive Performance Escrow0.000% 12/31/20490.0%
EURO-BUND FUTURE DEC180.000% 12/10/20180.0%
Energizer Holdings Inc0.000% 05/18/20190.0%
Fairway Group Acquisition Company0.000% -0.0%
EURO-BOBL FUT DEC180.000% 12/10/20180.0%
Claire's Stores, Inc.0.000% 09/15/20220.0%
Remington Outdoor Co. Inc.0.000% -0.0%
US 2YR NOTE (CBT) MAR190.000% 04/03/20190.0%
FX GBP/USD 12/180.000% 12/05/20180.0%
FX CAD/USD 12/180.000% 12/06/20180.0%
FX EUR/USD 12/180.000% 12/07/20180.0%
FX EUR/USD 12/180.000% 12/07/20180.0%
FX CAD/USD 12/180.000% 12/06/20180.0%
FX GBP/USD 12/180.000% 12/05/20180.0%
FX EUR/USD 12/180.000% 12/07/20180.0%
Credit Default Swap1.000% 06/20/20230.0%
Credit Default Swap1.000% 06/20/20230.0%
FX EUR/USD 12/180.000% 12/07/20180.0%
Credit Default Swap1.000% 06/20/20230.0%
Credit Default Swap1.000% 06/20/20230.0%
Credit Default Swap1.000% 06/20/20230.0%
Credit Default Swap1.000% 06/20/20230.0%
Credit Default Swap1.000% 06/20/20230.0%
J.P.Morgan Securities LLC0.010% -0.0%
Credit Index Swap5.000% 12/20/20230.0%
Credit Default Swap1.000% 06/20/20230.0%

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

Sector Allocationas of 12/31/2018

Sector Weighting Fund Change from Previous Quarter
Sector Weighting Fund Change from Previous Quarter
Retail arrowUp0.4%
Basic Industry arrowDown1.5%
Leisure arrowDown0.6%
Banking arrowDown0.2%
Energy arrowDown1.5%
Media arrowUp2.8%
Real Estate arrowDown0.1%
Capital Goods arrowDown0.1%
Technology & Electronics arrowDown1.1%
Financial Services arrowDown0.7%
Telecommunications arrowUp1.0%
Healthcare arrowUp1.1%
Consumer Goods arrowUp0.5%
Other arrowDown0.2%
Utility arrowUp0.4%
Services arrowDown0.3%
Transportation arrowDown0.4%
Insurance arrowUp0.1%
Automotive arrowUp0.5%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 01/16/2019
$0
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 12/31/2018 $0.03515 $6.93
Daily Daily 11/30/2018 $0.03449 $7.17
Daily Daily 10/31/2018 $0.03448 $7.30
Daily Daily 09/30/2018 $0.03343 $7.52
Daily Daily 08/31/2018 $0.03513 $7.52
Daily Daily 07/31/2018 $0.03399 $7.47
Daily Daily 06/30/2018 $0.03387 $7.44
Daily Daily 05/31/2018 $0.03429 $7.47
Daily Daily 04/30/2018 $0.03401 $7.53
Daily Daily 03/31/2018 $0.03498 $7.55
Daily Daily 02/28/2018 $0.03421 $7.64
Daily Daily 01/31/2018 $0.03444 $7.76

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 01/31/2019
Daily Daily 02/28/2019
Daily Daily 03/31/2019
Daily Daily 04/30/2019
Daily Daily 05/31/2019
Daily Daily 06/30/2019
Daily Daily 07/31/2019
Daily Daily 08/31/2019
Daily Daily 09/30/2019
Daily Daily 10/31/2019
Daily Daily 11/30/2019
Daily Daily 12/31/2019

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/18/2014 12/19/2014 $0.0899 $0.0792 $0.1691 $7.48
*

Taxed as ordinary income

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

Upcoming Capital Gain Distribution

Record Date Ex-Dividend Date
12/17/2019 12/18/2019

Fees & Expenses

Fees & Expenses

Expense Ratioas of 12/31/2018

1.19%

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
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Prospectus (XBRL)
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015
Publish Date:11/03/2015
Publish Date:11/03/2015
Publish Date:11/03/2015

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

                    

1

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

 

2

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

 

 

IMPORTANT INFORMATION

 

A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The Fund invests primarily in high-yield, lower-rated securities, sometimes called junk bonds. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can affect Fund performance.

 

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

 

 

Class R3 - The performance quotations for Class R3 reflect the following methods of calculation: (a) for periods prior to the inception date for Class R3, a restated figure is used based on the Fund's Class A performance, excluding the effect of Class A's maximum sales charge (which does not apply to Class R3, adjusted to reflect the Rule 12b-1 rate differential between Class A and Class R3, which has a higher 12b-1 fee than Class A; and (b) for periods after the inception date for Class R3, actual Class R3 performance is used reflecting all charges and fees applicable to Class R3 shares. Hypothetical performance data for Class R3, as measured from since inception of the Fund using the methodology described above, is not available if the Class A inception date is equal or greater than ten years old. Please refer to the Class R3 performance information for the inception date for Class R3. Please refer to the Class A performance information for the inception date for Class A.

Class R3 shares are only offered to certain eligible investors.  For additional information, see the Fund’s current prospectus.

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

 

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

 

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

 

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

 

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

Source: ICE Data Indices, LLC. 

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

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

 

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

 

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

 

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

 

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

 

 

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

 

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

 

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

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

Select funds to run a Morningstar Hypothetical Report.

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