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High Yield Fund

Daily price w/o sales charge as of 03/22/2019

$7.33

arrowDown$0.02

YTD Returns w/o sales charge as of 03/22/2019

7.10%

Overall Morningstar Ratings

High Yield Bond
as of 02/28/2019

Morningstar rated the Lord Abbett High Yield Fund class R3 share 3, 4 and 4 stars among 609, 517 and 331 High Yield Bond Funds for the overall rating and the 3, 5 and 10 year periods ended 2/28/2019, respectively.

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

Click here to view all legal text including risk information

Summary

Summary

What is the High Yield Fund?

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

A HERITAGE OF HIGH YIELD

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

 

AN OPPORTUNISTIC APPROACH

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

STRONG TRACK RECORD

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

Yield

Dividend Yield 1 as of 03/22/2019  

w/o sales charge 5.51%

30-Day Standardized Yield 2 as of 02/28/2019  

5.38%

Fund Basicsas of 02/28/2019

Total Net Assets
$6.74 B
Inception Date
09/28/2007
Dividend Frequency
Monthly
Fund Expense Ratio
1.20%
Number of Holdings
663
CUSIP
54400N706

Fund Expense Ratio :

1.20%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 6.47% 1.17% 8.61% 4.29% 10.42% 6.92%
Lipper Category Avg. High Yield Funds 5.72% 3.03% 7.90% 3.30% 9.65% -
ICE BofAML U.S. High Yield Constrained Index 6.36% 4.26% 9.90% 4.55% 11.43% 7.21%

Fund Expense Ratio :

1.20%

Fund Expense Ratio :

1.20%

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% -2.85% 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 :

1.20%

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

RELATED CONTENT

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

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

High Yield: Holding Up in 2018
August 6, 2018

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

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

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

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

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

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

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

Credit Quality Distribution as of 02/28/2019 View Portfolio

Rating Assets
BBB
BB
B
<B
Not Rated

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

Investment Team

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

18 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

28 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Managing Director & Portfolio Manager

11 Years of Industry Experience

Supported By 67 Investment Professionals with 14 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 03/22/2019  

w/o sales charge 5.51%

30-Day Standardized Yield 2 as of 02/28/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 5.38% 5.38%

Fund Expense Ratio :

1.20%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 6.47% 1.17% 8.61% 4.29% 10.42% 6.92%
Lipper Category Avg. High Yield Funds 5.72% 3.03% 7.90% 3.30% 9.65% -
ICE BofAML U.S. High Yield Constrained Index 6.36% 4.26% 9.90% 4.55% 11.43% 7.21%

Fund Expense Ratio :

1.20%

Fund Expense Ratio :

1.20%

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% -2.85% 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 :

1.20%

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 - - - - 7.13%
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 02/28/2019

Rating Assets
BBB
BB
B
<B
Not Rated

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

Portfolio Positioning as of 12/31/2018

  • High yield bonds came under pressure over the fourth quarter amid fears of slowing global growth and potential U.S. Federal Reserve (Fed) policy mistakes, as well as sharp equity and oil price declines. The segment underperformed investment grade issues, as 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 health care sector. We believe this sector is attractive due to improving volumes in the hospitals segment and improved overall sentiment in the industry.
  • We decreased the portfolio’s underweight to the telecom sector in an effort to be more defensively positioned given the volatility during the quarter. That said, it remains the portfolio’s largest underweight, as we believe that in addition to secular issues faced by the wireline segment, idiosyncratic issues continue to plague major wireline companies.
  • As of quarter-end, the portfolio had modest allocations to out-of-index sectors, such as bank loans, convertibles, investment grade bonds, and equities. We believe select exposures to these sectors offer attractive risk-reward opportunities, potential portfolio diversification benefits and avenues for liquidity.
  • We continue to believe that general economic fundamentals and strong expected earnings growth will favor the lower-rated segments of the high yield market. We expect default rates to remain subdued and believe that high yield spreads can grind tighter from current levels as consumer sentiment continues to improve.

Portfolio Details as of 02/28/2019

Total Net Assets
$6.74 B
Number of Issues
663
Average Coupon
6.36%
Average Maturity
6.65 Years
Average Effective Duration
4.50 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 1.8%
T-Mobile USA, Inc. 6.500% 01/15/2026 0.8%
Ally Financial, Inc. 8.000% 11/01/2031 0.7%
Tenet Healthcare Corp. 5.125% 05/01/2025 0.6%
Numericable Group S.A. 7.375% 05/01/2026 0.6%
Freeport-McMoRan, Inc. 3.875% 03/15/2023 0.6%
Tesla Motors, Inc. 5.300% 08/15/2025 0.6%
CCO Holdings LLC / CCO Holdings Capital Corp. 5.750% 02/15/2026 0.6%
TransDigm, Inc. 6.375% 06/15/2026 0.5%
HCA, Inc. 5.500% 06/15/2047 0.5%
% of Total Assets 7.3%

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% 11/15/20281.8%
HCA, Inc.5.250% 06/15/20260.9%
T-Mobile USA, Inc.6.500% 01/15/20260.8%
Tenet Healthcare Corp.5.125% 05/01/20250.6%
Numericable Group S.A.7.375% 05/01/20260.6%
Tesla Motors, Inc.5.300% 08/15/20250.6%
Freeport-McMoRan, Inc.3.875% 03/15/20230.6%
CCO Holdings LLC / CCO Holdings Capital Corp.5.750% 02/15/20260.6%
HCA, Inc.5.500% 06/15/20470.6%
CCO Holdings LLC / CCO Holdings Capital Corp.5.875% 04/01/20240.5%
Calpine Corp.5.750% 01/15/20250.5%
Netflix, Inc.3.625% 05/15/20270.5%
Netflix, Inc.5.875% 02/15/20250.5%
Pacific Gas & Electric Co.6.050% 03/01/20340.5%
Ally Financial, Inc.8.000% 11/01/20310.5%
Albertsons Cos LLC / Safeway, Inc. / New Albertson6.625% 06/15/20240.5%
RegionalCare Hospital Partners Holdings Inc / Life9.750% 12/01/20260.5%
Bombardier, Inc.7.500% 03/15/20250.4%
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%
Molina Healthcare, Inc.4.875% 06/15/20250.4%
DISH DBS Corp.7.750% 07/01/20260.4%
CSC Holdings LLC10.875% 10/15/20250.4%
UPCB Finance Ltd.5.375% 01/15/20250.4%
Intelsat Jackson Holdings SA5.500% 08/01/20230.4%
MEG Energy Corp.7.000% 03/31/20240.4%
Cheniere Corpus Christi Holdings LLC5.875% 03/31/20250.4%
Navient Corp.6.750% 06/25/20250.4%
WellCare Health Plans, Inc.5.250% 04/01/20250.4%
Valeant Pharmaceuticals International, Inc.4.500% 05/15/20230.4%
Peabody Energy Corp.6.375% 03/31/20250.4%
DKT Finance ApS9.375% 06/17/20230.4%
CF Industries, Inc.5.150% 03/15/20340.4%
Navient Corp.6.125% 03/25/20240.3%
Cheniere Corpus Christi Holdings LLC5.125% 06/30/20270.3%
Sirius XM Radio, Inc.5.000% 08/01/20270.3%
TransDigm, Inc.6.250% 03/15/20260.3%
Chesapeake Energy Corp.7.000% 10/01/20240.3%
Centene Corp.4.750% 01/15/20250.3%
Equinix, Inc.2.875% 02/01/20260.3%
General Electric Co.5.000% 12/31/20990.3%
Verscend Escrow Corp9.750% 08/15/20260.3%
AMC Networks, Inc.4.750% 08/01/20250.3%
Cliffs Natural Resources, Inc.5.750% 03/01/20250.3%
Rockies Express Pipeline LLC6.875% 04/15/20400.3%
Diamondback Energy, Inc.4.750% 11/01/20240.3%
Match Group, Inc.5.000% 12/15/20270.3%
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell o5.000% 06/01/20240.3%
Centene Corp.5.375% 06/01/20260.3%
RBS Global & Rexnord Corp.4.875% 12/15/20250.3%
CSL Capital, LLC8.250% 10/15/20230.3%
TransDigm, Inc.6.375% 06/15/20260.3%
Teva Pharmaceutical Finance Netherlands III BV3.150% 10/01/20260.3%
Intelsat Jackson Holdings SA8.500% 10/15/20240.3%
SM Energy Co.6.625% 01/15/20270.3%
Ziggo BV5.500% 01/15/20270.3%
Valeant Pharmaceuticals International, Inc.8.500% 01/31/20270.3%
Dell International LLC / EMC Corp6.020% 06/15/20260.3%
Tenet Healthcare Corp.6.750% 06/15/20230.3%
CenturyLink, Inc.7.500% 04/01/20240.3%
Transocean, Inc.7.500% 01/15/20260.3%
Tenet Healthcare Corp.6.250% 02/01/20270.3%
CCO Holdings LLC / CCO Holdings Capital Corp.5.125% 05/01/20270.3%
Community Health Systems, Inc.8.000% 11/15/20190.3%
TRI Pointe Homes LLC5.250% 06/01/20270.3%
Western Digital Corp.4.750% 02/15/20260.3%
MSCI, Inc.5.750% 08/15/20250.3%
Century Communities, Inc.5.875% 07/15/20250.3%
CIT Group, Inc.6.125% 03/09/20280.3%
Clear Channel Worldwide Holdings, Inc.6.500% 11/15/20220.3%
Ingevity Corp.4.500% 02/01/20260.3%
United Rentals, Inc.4.875% 01/15/20280.3%
Mueller Water Products, Inc.5.500% 06/15/20260.3%
Yingde Gases Investment Ltd6.250% 01/19/20230.3%
NRG Energy, Inc.5.750% 01/15/20280.3%
Valeant Pharmaceuticals International, Inc.5.500% 03/01/20230.3%
Rio Oil Finance Trust Series 2018-18.200% 04/06/20280.3%
Noble Holding International Ltd.7.875% 02/01/20260.2%
Republic of Argentina6.875% 04/22/20210.2%
Jonah Energy LLC / Jonah Energy Finance Corp7.250% 10/15/20250.2%
IRB Holding Corp6.750% 02/15/20260.2%
Mclaren Finance PLC5.000% 08/01/20220.2%
CEC Entertainment, Inc.8.000% 02/15/20220.2%
CONSOL Energy Inc11.000% 11/15/20250.2%
Pulte Group, Inc.5.000% 01/15/20270.2%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.2%
Ortho-Clinical Diagnostics Inc / Ortho-Clinical Di6.625% 05/15/20220.2%
GCI LLC6.875% 04/15/20250.2%
Citgo Holding, Inc.10.750% 02/15/20200.2%
Ashland, Inc.6.875% 05/15/20430.2%
Conn's, Inc.7.250% 07/15/20220.2%
Pulte Group, Inc.5.500% 03/01/20260.2%
SM Energy Co.6.750% 09/15/20260.2%
Churchill Downs, Inc.4.750% 01/15/20280.2%
Alcoa Nederland Holding BV6.750% 09/30/20240.2%
Genworth Holdings Inc4.900% 08/15/20230.2%
CNO Financial Group, Inc.5.250% 05/30/20250.2%
Synovus Financial Corp.5.900% 02/07/20290.2%
MPT Operating Partnership L.P.5.000% 10/15/20270.2%
DaVita, Inc.5.000% 05/01/20250.2%
Rede D'or Finance Sarl4.950% 01/17/20280.2%
Tenet Healthcare Corp.4.625% 07/15/20240.2%
L Brands, Inc.5.250% 02/01/20280.2%
HCA, Inc.8.360% 04/15/20240.2%
Netflix, Inc.4.625% 05/15/20290.2%
Alta Mesa Holdings L.P. / Alta Mesa Finance Servic7.875% 12/15/20240.2%
Ball Corp.4.875% 03/15/20260.2%
Baffinland Iron Mines Corp / Baffinland Iron Mines8.750% 07/15/20260.2%
Lennar Corp.4.750% 05/30/20250.2%
Valeant Pharmaceuticals International, Inc.5.625% 12/01/20210.2%
Sensata Technologies BV5.625% 11/01/20240.2%
Azul Investments LLP5.875% 10/26/20240.2%
Centennial Resource Production LLC5.375% 01/15/20260.2%
Hilton Domestic Operating Co, Inc.5.125% 05/01/20260.2%
Denbury Resources, Inc.5.500% 05/01/20220.2%
Weight Watchers International, Inc.8.625% 12/01/20250.2%
Callon Petroleum Co.6.125% 10/01/20240.2%
Cemig Geracao e Transmissao SA9.250% 12/05/20240.2%
PGT Escrow Issuer Inc6.750% 08/01/20260.2%
Blue Cube Spinco, Inc.10.000% 10/15/20250.2%
Berry Petroleum Co.7.000% 02/15/20260.2%
Post Holdings, Inc.5.500% 03/01/20250.2%
Waste Pro USA Inc5.500% 02/15/20260.2%
Summit Materials LLC5.125% 06/01/20250.2%
Cogent Communications Group, Inc.5.375% 03/01/20220.2%
Eldorado Resorts, Inc.6.000% 04/01/20250.2%
Hub International Ltd.7.000% 05/01/20260.2%
Service Corp. International4.625% 12/15/20270.2%
BankUnited, Inc.4.875% 11/17/20250.2%
Under Armour, Inc.3.250% 06/15/20260.2%
Millicom International Cellular S.A.6.625% 10/15/20260.2%
Williams Scotsman International Inc6.875% 08/15/20230.2%
FAGE International SA/ FAGE USA Dairy Industry Inc5.625% 08/15/20260.2%
Penn National Gaming, Inc.5.625% 01/15/20270.2%
EW Scripps Co.5.125% 05/15/20250.2%
Con-way, Inc.6.700% 05/01/20340.2%
Sinclair Broadcast Group, Inc.5.875% 03/15/20260.2%
Booz Allen Hamilton, Inc.5.125% 05/01/20250.2%
SRC Energy Inc6.250% 12/01/20250.2%
VOC Escrow Ltd5.000% 02/15/20280.2%
Caesars Palace Las Vegas Trust 2017-VICI4.354% 10/15/20340.2%
Marble II Pte Ltd.5.300% 06/20/20220.2%
Shea Homes LP / Shea Homes Funding Corp.6.125% 04/01/20250.2%
Enova International, Inc.8.500% 09/01/20240.2%
Macquarie Bank Ltd./London6.125% 03/08/21670.2%
Precision Drilling Corp.5.250% 11/15/20240.2%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.2%
Exterran Energy Solutions L.P. / EES Finance Corp.8.125% 05/01/20250.2%
Southwestern Energy Co.7.750% 10/01/20270.2%
Horizon Pharma USA Inc8.750% 11/01/20240.2%
KeyCorp.5.000% 12/31/20990.2%
Nationstar Mortgage Holdings, Inc.9.125% 07/15/20260.2%
Jurassic Holdings III, Inc.6.875% 02/15/20210.2%
Jagged Peak Energy LLC5.875% 05/01/20260.2%
SPX FLOW, Inc.5.625% 08/15/20240.2%
NGPL Pipeco LLC4.875% 08/15/20270.2%
Toll Brothers Finance Corp.4.875% 03/15/20270.2%
Gray Television, Inc.7.000% 05/15/20270.2%
Lamb Weston Holdings, Inc.4.875% 11/01/20260.2%
WPX Energy, Inc.5.250% 09/15/20240.2%
AMC Networks, Inc.5.000% 04/01/20240.2%
Aegea Finance Sarl5.750% 10/10/20240.2%
Rumo Luxembourg Sarl7.375% 02/09/20240.2%
Intertape Polymer Group Inc7.000% 10/15/20260.2%
Popular, Inc.6.125% 09/14/20230.2%
Lamb Weston Holdings, Inc.4.625% 11/01/20240.2%
Belo Corp.7.250% 09/15/20270.2%
Cheniere Energy Partners LP5.625% 10/01/20260.2%
HCA, Inc.7.500% 12/15/20230.2%
99 Cents Only Stores7.760% 01/13/20220.2%
Air Medical Group Holdings, Inc.6.375% 05/15/20230.2%
NextEra Energy Operating Partners LP4.500% 09/15/20270.2%
Hillman Group, Inc.6.375% 07/15/20220.2%
Yum! Brands, Inc.5.350% 11/01/20430.2%
HCA, Inc.5.875% 02/01/20290.2%
CSI Compressco LP / CSI Compressco Finance Inc7.500% 04/01/20250.2%
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell o4.750% 06/01/20270.2%
Covanta Holding Corp.6.000% 01/01/20270.2%
Gray Television, Inc.5.875% 07/15/20260.2%
Sirius XM Radio, Inc.5.375% 07/15/20260.2%
Norbord, Inc.6.250% 04/15/20230.2%
Williams Scotsman International Inc7.875% 12/15/20220.2%
Banff Merger Sub Inc8.375% 09/01/20260.2%
Ingles Markets, Inc.5.750% 06/15/20230.2%
MEG Energy Corp.6.500% 01/15/20250.2%
EP Energy LLC8.000% 11/29/20240.2%
Texas Capital Bank NA/Dallas TX5.250% 01/31/20260.2%
Marriott Ownership Resorts Inc / ILG LLC6.500% 09/15/20260.2%
Provincia de la Rioja9.750% 02/24/20250.2%
HLF Financing Sarl LLC / Herbalife International I7.250% 08/15/20260.2%
Magnolia Oil & Gas Operating LLC / Magnolia Oil &6.000% 08/01/20260.2%
Vistra Operations Co LLC5.500% 09/01/20260.2%
Credit Suisse Group AG7.250% 09/12/21680.2%
Wendy's International, Inc.7.000% 12/15/20250.2%
DaVita, Inc.5.125% 07/15/20240.2%
Bahia Sul Holdings GmbH6.000% 01/15/20290.2%
Autopistas del Sol SA/Costa Rica7.375% 12/30/20300.2%
KOC Holding AS5.250% 03/15/20230.2%
Rain CII Carbon LLC7.250% 04/01/20250.2%
Ladder Capital Finance Holdings LLC/Ladder Capital5.250% 10/01/20250.2%
Rumo Luxembourg Sarl5.875% 01/18/20250.2%
JBS USA LLC/JBS USA Finance, Inc.6.750% 02/15/20280.2%
William Lyon Homes, Inc.6.000% 09/01/20230.2%
Pharmaceutical Product Development LLC6.375% 08/01/20230.2%
Matterhorn Merger Sub LLC / Matterhorn Finance Sub8.500% 06/01/20260.2%
Enterprise Development Authority/The12.000% 07/15/20240.2%
Meredith Corp.6.875% 02/01/20260.2%
Cheniere Energy Partners LP5.250% 10/01/20250.2%
Provincia de Rio Negro7.750% 12/07/20250.2%
VeriSign, Inc.5.250% 04/01/20250.2%
Steel Dynamics, Inc.4.125% 09/15/20250.2%
InterXion Holding NV4.750% 06/15/20250.2%
Jacobs Entertainment, Inc.7.875% 02/01/20240.2%
Aston Martin Capital Holdings Ltd6.500% 04/15/20220.2%
Fair Isaac Corp.5.250% 05/15/20260.2%
WildHorse Resource Development Corp6.875% 02/01/20250.2%
Promontoria Holding 264 BV6.750% 08/15/20230.2%
Orchestra Borrower LLC / Orchestra Co-Issuer Inc6.750% 06/15/20220.2%
Murphy Oil USA, Inc.5.625% 05/01/20270.2%
Tenneco, Inc.5.000% 07/15/20260.2%
ESH Hospitality, Inc.5.250% 05/01/20250.2%
Altice Luxembourg SA7.750% 05/15/20220.2%
Versum Materials, Inc.5.500% 09/30/20240.2%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.2%
j2 Cloud Services LLC / j2 Global Co-Obligor Inc6.000% 07/15/20250.2%
William Lyon Homes, Inc.5.875% 01/31/20250.2%
Mohegan Tribal Gaming Authority7.875% 10/15/20240.2%
NCI Building Systems, Inc.8.000% 04/15/20260.2%
Rowan Companies, Inc.4.750% 01/15/20240.2%
Beacon Roofing Supply, Inc.4.875% 11/01/20250.2%
Tullow Oil plc7.000% 03/01/20250.2%
Sri Lanka (Democratic Socialist Republic of)6.825% 07/18/20260.2%
BCD Acquisition, Inc.9.625% 09/15/20230.2%
Blitz F18-674 GmbH6.000% 07/30/20260.1%
Ashton Woods USA LLC / Ashton Woods Finance Co.6.750% 08/01/20250.1%
Wolverine World Wide, Inc.5.000% 09/01/20260.1%
Guitar Center Escrow Issuer Inc9.500% 10/15/20210.1%
Garda World Security Corp8.750% 05/15/20250.1%
JB Poindexter & Co., Inc.7.125% 04/15/20260.1%
Covey Park Energy LLC / Covey Park Finance Corp7.500% 05/15/20250.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.000% 12/01/20240.1%
Apergy Corp6.375% 05/01/20260.1%
Pactiv Corp.7.950% 12/15/20250.1%
Mattel, Inc.6.750% 12/31/20250.1%
Everi Payments Inc7.500% 12/15/20250.1%
Itron, Inc.5.000% 01/15/20260.1%
Boyne USA Inc7.250% 05/01/20250.1%
Britax Childcare4.500% 10/15/20200.1%
Tenet Healthcare Corp.7.000% 08/01/20250.1%
Southern Star Central Corp.5.125% 07/15/20220.1%
Barminco Finance Pty Ltd.6.625% 05/15/20220.1%
Forming Machining Indust6.851% 10/09/20250.1%
Hunt Oil Co of Peru LLC Sucursal Del Peru6.375% 06/01/20280.1%
West Street Merger Sub Inc6.375% 09/01/20250.1%
Cenovus Energy, Inc.4.250% 04/15/20270.1%
Surgery Center Holdings, Inc.6.750% 07/01/20250.1%
Rockpoint Gas Storage Canada Ltd7.000% 03/31/20230.1%
Eterna Capital Pte Ltd8.000% 12/11/20220.1%
Acrisure LLC / Acrisure Finance Inc7.000% 11/15/20250.1%
Teleflex, Inc.4.875% 06/01/20260.1%
Warrior Met Coal Inc8.000% 11/01/20240.1%
WeWork Cos Inc7.875% 05/01/20250.1%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.1%
Del Frisco's Restaurant Grou8.500% 06/27/20250.1%
Huntington Bancshares, Inc.5.700% 12/31/20990.1%
Oasis Petroleum, Inc.6.250% 05/01/20260.1%
ADT Corp.4.875% 07/15/20320.1%
PDC Energy, Inc.6.125% 09/15/20240.1%
AHP Health Partners Inc9.750% 07/15/20260.1%
Quicken Loans Inc5.250% 01/15/20280.1%
MPH Acquisition Holdings LLC7.125% 06/01/20240.1%
Buena Vista Gaming Authority13.000% 04/01/20230.1%
Indigo Natural Resources LLC6.875% 02/15/20260.1%
Transocean Poseidon Ltd6.875% 02/01/20270.1%
Salem Communications Corp.6.750% 06/01/20240.1%
Bristow Group, Inc.8.750% 03/01/20230.1%
CDW Corp.5.500% 12/01/20240.1%
Targa Resources Partners L.P.5.375% 02/01/20270.1%
Mercer International, Inc.5.500% 01/15/20260.1%
Sinclair Broadcast Group, Inc.5.125% 02/15/20270.1%
MasTec, Inc.4.875% 03/15/20230.1%
Geo Group, Inc.6.000% 04/15/20260.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.750% 10/01/20250.1%
Forum Energy Technologies, Inc.6.250% 10/01/20210.1%
Polaris Intermediate Corp8.500% 12/01/20220.1%
Fresh Market, Inc.9.750% 05/01/20230.1%
TopBuild Corp.5.625% 05/01/20260.1%
Inter Media and Communication SpA4.875% 12/31/20220.1%
New Home Co, Inc./The7.250% 04/01/20220.1%
Sealed Air Corp.6.875% 07/15/20330.1%
OCI NV6.625% 04/15/20230.1%
Dutch Lion BV11.250% 06/15/20200.1%
Range Resources Corp.4.875% 05/15/20250.1%
Acrisure LLC / Acrisure Finance Inc8.125% 02/15/20240.1%
Gibson Brands, Inc.8.875% 08/01/20190.1%
Hill-Rom Holdings, Inc.5.000% 02/15/20250.1%
Alliant Holdings Intermediate LLC8.250% 08/01/20230.1%
Mobile Mini, Inc.5.875% 07/01/20240.1%
AES Corp.4.500% 03/15/20230.1%
SM Energy Co.5.000% 01/15/20240.1%
Laureate Education, Inc.8.250% 05/01/20250.1%
HCA, Inc.5.375% 02/01/20250.1%
Chaparral Energy, Inc.8.750% 07/15/20230.1%
Trident Merger Sub Inc6.625% 11/01/20250.1%
Ahern Rentals, Inc.7.375% 05/15/20230.1%
B&G Foods, Inc.5.250% 04/01/20250.1%
Hill-Rom Holdings, Inc.5.750% 09/01/20230.1%
WPX Energy, Inc.5.750% 06/01/20260.1%
Deck Chassis Acquisition, Inc.10.000% 06/15/20230.1%
Targa Resources Partners L.P.4.250% 11/15/20230.1%
TreeHouse Foods, Inc.6.000% 02/15/20240.1%
NSG Holdings LLC / NSG Holdings, Inc.7.750% 12/15/20250.1%
Clearway Energy Operating LLC5.750% 10/15/20250.1%
Chesapeake Energy Corp.7.500% 10/01/20260.1%
Hawaiian Airlines Class B Pass Through Certificate4.950% 01/15/20220.1%
W&T Offshore, Inc.9.750% 11/01/20230.1%
Province of Santa Fe6.900% 11/01/20270.1%
Antero Midstream Partners L.P. / Antero Midstream5.375% 09/15/20240.1%
Central Garden & Pet Co.5.125% 02/01/20280.1%
York Risk Services Holding Corp8.500% 10/01/20220.1%
Flex Acquisition Co Inc7.875% 07/15/20260.1%
Permian Resources LLC / AEPB Finance Corp.13.000% 11/30/20200.1%
Advanced Micro Devices, Inc.2.125% 09/01/20260.1%
Sanchez Energy Corp.7.250% 02/15/20230.1%
Targa Resources Partners L.P.5.875% 04/15/20260.1%
Caesars Palace Las Vegas Trust 2017-VICI4.354% 10/15/20340.1%
Steel Dynamics, Inc.5.000% 12/15/20260.1%
General Motors Financial Co., Inc.5.650% 01/17/20290.1%
Merlin Entertainments PLC5.750% 06/15/20260.1%
Extraction Oil & Gas Inc7.375% 05/15/20240.1%
Banff Merger Sub Inc9.750% 09/01/20260.1%
AES Corp.5.125% 09/01/20270.1%
Numericable Group S.A.8.125% 02/01/20270.1%
Stonegate Pub Company Financing PLC4.875% 03/15/20220.1%
Buenos Aires, Argentina7.500% 06/01/20270.1%
Energizer Holdings, Inc.6.375% 07/15/20260.1%
Allegheny Technologies, Inc.7.875% 08/15/20230.1%
Tempo Acquisition LLC / Tempo Acquisition Finance6.750% 06/01/20250.1%
Novelis Corp.6.250% 08/15/20240.1%
Sirius XM Radio, Inc.6.000% 07/15/20240.1%
Pulte Group, Inc.6.375% 05/15/20330.1%
Rio Energy SA / UGEN SA / UENSA SA6.875% 02/01/20250.1%
Brink's Co/The4.625% 10/15/20270.1%
Aerovironment, Inc.0.000% -0.1%
GOBP Holdings Inc.9.658% 10/22/20260.1%
Parsley Energy LLC6.250% 06/01/20240.1%
Holly Energy Partners L.P. / Holly Energy Finance6.000% 08/01/20240.1%
General Motors Co.5.000% 10/01/20280.1%
Ritchie Bros Auctioneers, Inc.5.375% 01/15/20250.1%
Darling Global Finance BV3.625% 05/15/20260.1%
24 Hour Fitness Worldwide, Inc.8.000% 06/01/20220.1%
Square, Inc.0.500% 05/15/20230.1%
SPX FLOW, Inc.5.875% 08/15/20260.1%
Cardtronics Inc / Cardtronics USA Inc5.500% 05/01/20250.1%
Seacoast Banking Corp. of Florida0.000% -0.1%
Wabash National Corp.5.500% 10/01/20250.1%
Murphy Oil Corp.6.875% 08/15/20240.1%
Everbridge, Inc.1.500% 11/01/20220.1%
Central American Bottling Corp.5.750% 01/31/20270.1%
Transocean Proteus Ltd.6.250% 12/01/20240.1%
Gateway Casinos & Entertainment Ltd8.250% 03/01/20240.1%
WTT Investment Ltd/Hong Kong5.500% 11/21/20220.1%
Kernel Holding SA8.750% 01/31/20220.1%
Cargurus Inc0.000% -0.1%
Intuitive Surgical, Inc.0.000% -0.1%
Lennar Corp.4.500% 04/30/20240.1%
EnerSys5.000% 04/30/20230.1%
Elwood Energy LLC8.159% 07/05/20260.1%
Lamar Media Corp.5.750% 02/01/20260.1%
MHP Lux SA6.950% 04/03/20260.1%
Dover Corp.0.000% -0.1%
Wabtec Corp.3.450% 11/15/20260.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.6.250% 11/01/20280.1%
Kuehg Corp11.053% 08/15/20250.1%
Transocean Phoenix 2 Ltd.7.750% 10/15/20240.1%
Monro Muffler Brake, Inc.0.000% -0.1%
Elanco Animal Health Inc4.900% 08/28/20280.1%
Navicure Inc9.999% 10/31/20250.1%
Sage Therapeutics, Inc.0.000% -0.1%
GE Capital International Funding Co.3.373% 11/15/20250.1%
Golar LNG Partners L.P.8.564% 05/18/20210.1%
Helix Gen Funding, LLC6.249% 06/03/20240.1%
Hema Bondco II BV8.500% 01/15/20230.1%
Provincia de Mendoza Argentina8.375% 05/19/20240.1%
KGA Escrow LLC7.500% 08/15/20230.1%
Longview Power8.750% 03/25/20210.1%
Five9, Inc.0.125% 05/01/20230.1%
Valeant Pharmaceuticals International, Inc.7.000% 03/15/20240.1%
Endeavor Energy Resources L.P.5.500% 01/30/20260.1%
H&E Equipment Services, Inc.5.625% 09/01/20250.1%
Great Lakes Dredge & Dock Corp.8.000% 05/15/20220.1%
Dynagas LNG Partners L.P.6.250% 10/30/20190.1%
DPL, Inc.7.250% 10/15/20210.1%
Qorvo, Inc.5.500% 07/15/20260.1%
Coeur Mining, Inc.5.875% 06/01/20240.1%
Community Health Systems, Inc.5.125% 08/01/20210.1%
Stena AB7.000% 02/01/20240.1%
Twilio, Inc.0.250% 06/01/20230.1%
JBS USA LLC/JBS USA Finance, Inc.5.875% 07/15/20240.1%
Southwestern Energy Co.7.500% 04/01/20260.1%
Chegg, Inc.0.250% 05/15/20230.1%
W/S Packaging Holdings Inc9.000% 04/15/20230.1%
Live Nation Entertainment, Inc.5.625% 03/15/20260.1%
TGP Holdings III LLC11.303% 09/20/20250.1%
Stoneway Capital Corp10.000% 03/01/20270.1%
Bill Barrett Corp.7.000% 10/15/20220.1%
Taylor Morrison Communities Inc6.625% 05/15/20220.1%
MGM Growth Properties Operating Partnership LP / M5.625% 05/01/20240.1%
Six Flags Entertainment Corp.5.500% 04/15/20270.1%
Tupras Turkiye Petrol Rafine4.500% 10/18/20240.1%
CVR Partners LP / CVR Nitrogen Finance Corp9.250% 06/15/20230.1%
Provincia de Cordoba7.450% 09/01/20240.1%
Sotheby's4.875% 12/15/20250.1%
ServiceMaster Co LLC/The5.125% 11/15/20240.1%
Nine Energy Service Inc8.750% 11/01/20230.1%
Sally Holdings LLC / Sally Capital, Inc.5.625% 12/01/20250.1%
Stevens Holding Co Inc6.125% 10/01/20260.1%
Nokia Corp.4.375% 06/12/20270.1%
Eldorado Resorts, Inc.6.000% 09/15/20260.1%
GCP Applied Technologies, Inc.5.500% 04/15/20260.1%
Deckers Outdoor Corp.0.000% -0.1%
Geopark Ltd.6.500% 09/21/20240.1%
Charles River Laboratories International, Inc.5.500% 04/01/20260.1%
Denbury Resources, Inc.4.625% 07/15/20230.1%
Louisiana-Pacific Corp.4.875% 09/15/20240.1%
Malibu Boats, Inc.0.000% -0.1%
Novelis Corp.5.875% 09/30/20260.1%
Masonite International Corp.5.750% 09/15/20260.1%
Benefitfocus, Inc.1.250% 12/15/20230.1%
Denbury Resources, Inc.9.000% 05/15/20210.1%
Centene Corp.6.125% 02/15/20240.1%
Builders FirstSource, Inc.5.625% 09/01/20240.1%
Radiate Holdco LLC / Radiate Finance Inc6.625% 02/15/20250.1%
Asbury Automotive Group, Inc.6.000% 12/15/20240.1%
Stars Group Holdings BV / Stars Group US Co-Borrow7.000% 07/15/20260.1%
Cloud Crane LLC10.125% 08/01/20240.1%
Summit Materials, Inc.0.000% -0.1%
Repligen Corp.2.125% 06/01/20210.1%
AssuredPartners Inc7.000% 08/15/20250.1%
Gulfport Energy Corp.6.375% 05/15/20250.1%
Six Flags Entertainment Corp.4.875% 07/31/20240.1%
Sugarhouse HSP Gaming Prop Mezz LP/Fin Corp.5.875% 05/15/20250.1%
Aerojet Rocketdyne Holdings, Inc.2.250% 12/15/20230.1%
Penumbra, Inc.0.000% -0.1%
MSCI, Inc.0.000% -0.1%
Station Casinos LLC5.000% 10/01/20250.1%
Algeco Scotsman Global Finance plc8.000% 02/15/20230.1%
RegionalCare Hospital Partners Holdings Inc8.250% 05/01/20230.1%
Etsy, Inc.0.000% 03/01/20230.1%
Eldorado Intl. Finance GmbH8.625% 06/16/20210.1%
Terraform Global Operating LLC6.125% 03/01/20260.1%
LGI Homes, Inc.0.000% -0.1%
Zebra Technologies Corp.0.000% -0.1%
Export Credit Bank of Turkey8.250% 01/24/20240.1%
GW Pharmaceuticals plc0.000% -0.1%
NVA Holdings Inc/United States6.875% 04/01/20260.1%
MGIC Investment Corp.5.750% 08/15/20230.1%
MRP Generation Holdings LLC9.359% 10/18/20220.1%
Grinding Media, Inc. / MC Grinding Media Canada, I7.375% 12/15/20230.1%
First Republic Bank/San Francisco CA0.000% -0.1%
Bruin E&P Partners LLC8.875% 08/01/20230.1%
Compass Minerals International, Inc.4.875% 07/15/20240.1%
Intelsat Connect Finance SA9.500% 02/15/20230.1%
Container Store7.499% 09/14/20230.1%
Citigroup, Inc.6.125% 12/31/20990.1%
Southern Graphics Inc0.000% 11/22/20230.1%
BBA US Holdings Inc5.375% 05/01/20260.1%
Navistar International Corp.6.625% 11/01/20250.1%
United Rentals, Inc.4.625% 10/15/20250.1%
Eskom Holdings SOC Ltd.8.450% 08/10/20280.1%
SM Energy Co.0.000% -0.1%
DIRECT CHASSISLINK INC8.499% 06/15/20230.1%
Restoration Hardware Holdings, Inc.0.000% 07/15/20200.1%
Werner FinCo LP / Werner FinCo Inc8.750% 07/15/20250.1%
Performance Food Group, Inc.5.500% 06/01/20240.1%
Canopy Growth Corp4.250% 07/15/20230.1%
CMA CGM SA5.250% 01/15/20250.1%
Gulfport Energy Corp.6.375% 01/15/20260.1%
TripAdvisor, Inc.0.000% -0.1%
Neiman Marcus Group Inc., The5.763% 10/25/20200.1%
Frontera Generation Hold6.763% 05/02/20250.1%
Allison Transmission, Inc.5.000% 10/01/20240.1%
eDreams ODIGEO SL5.500% 09/01/20230.1%
DexCom, Inc.0.750% 05/15/20220.1%
Levi Strauss & Co.3.375% 03/15/20270.1%
Upwork Inc0.000% -0.1%
Hadrian Merger Sub Inc8.500% 05/01/20260.1%
Flynn Restaurant Group9.520% 06/29/20260.1%
VM Holding SA5.375% 05/04/20270.1%
Molina Healthcare, Inc.5.375% 11/15/20220.1%
Tencent Music Entertainment Group0.000% -0.1%
SPCM S.A.4.875% 09/15/20250.1%
PetSmart, Inc.5.875% 06/01/20250.1%
WMG Acquisition Corp.5.000% 08/01/20230.1%
Inmarsat Finance plc6.500% 10/01/20240.1%
Teledyne Technologies, Inc.0.000% -0.1%
Cumberland Farms Inc6.750% 05/01/20250.1%
Schaeffler Verwaltung Zwei GmbH4.750% 09/15/20260.1%
SeaWorld Entertainment, Inc.0.000% -0.1%
E*TRADE Financial Corp.5.875% 12/31/20990.1%
Revlon, Inc. Class A5.571% 09/07/20230.1%
Lululemon Athletica, Inc.0.000% -0.1%
PG&E Corp5.029% 12/31/20200.1%
Excelitas Technologies10.308% 11/15/20250.1%
Sandy Creek Energy Associates5.000% 11/09/20200.1%
Ensco plc4.500% 10/01/20240.1%
Paprec Holding SA4.000% 03/31/20250.1%
QuickSilver Inc.8.350% 04/08/20240.1%
Swordfish Merger Sub LLC9.270% 02/02/20260.1%
Eclipse Resources Corp.8.875% 07/15/20230.1%
Shake Shack, Inc.0.000% -0.1%
Fogo De Chao Inc6.648% 04/07/20250.1%
General Motors Financial Co., Inc.3.850% 01/05/20280.1%
Yak Access LLC12.319% 07/10/20260.1%
Mattel, Inc.5.450% 11/01/20410.1%
Altran Technologies9.249% 06/26/20260.1%
SM Energy Co.5.625% 06/01/20250.1%
Cheniere Corpus Christi Holdings LLC7.000% 06/30/20240.1%
LBC Tank Terminals Holding Netherlands BV6.875% 05/15/20230.1%
Commercial Barge Line11.249% 11/12/20200.1%
Gibson Brands, Inc0.000% -0.1%
KeHE Distributors LLC / KeHE Finance Corp.7.625% 08/15/20210.1%
Rayonier AM Products, Inc.5.500% 06/01/20240.1%
Level 3 Financing, Inc.5.250% 03/15/20260.1%
North American Lifting Holdings, Inc. (aka TNT Crane & Rigging, Inc)11.803% 11/26/20210.1%
Sprouts Farmers Markets LLC0.000% -0.1%
Moxie Patriot LLC8.553% 12/19/20200.1%
Dole Food Co., Inc.7.250% 06/15/20250.1%
Wyndham Worldwide Corp.6.350% 10/01/20250.1%
AMC Entertainment Holdings, Inc.5.875% 11/15/20260.1%
Boyd Gaming Corp.6.000% 08/15/20260.1%
Oceaneering International, Inc.4.650% 11/15/20240.1%
Kenan Advantage Group, Inc.7.875% 07/31/20230.1%
Powerteam Services LLC10.063% 03/06/20260.1%
Colorado Buyer, Inc.9.770% 05/01/20250.1%
Pyxus International Inc9.875% 07/15/20210.1%
Provident Funding Associates L.P. / PFG Finance Co6.375% 06/15/20250.1%
Ensco plc5.200% 03/15/20250.1%
Carrizo Oil & Gas, Inc.8.250% 07/15/20250.1%
Univision Communications Inc.5.249% 03/15/20240.1%
American Axle & Manufacturing, Inc.6.250% 04/01/20250.1%
Claire's Stores, Inc.0.000% -0.1%
Freedom Mortgage Corp8.250% 04/15/20250.1%
CIBT Solutions, Inc.9.210% 06/01/20250.1%
Optimas OE Solutions Holding LLC / Optimas OE Solu8.625% 06/01/20210.1%
Toll Brothers Finance Corp.4.350% 02/15/20280.1%
Griffon Corp.5.250% 03/01/20220.1%
Acadia Healthcare Co., Inc.5.625% 02/15/20230.1%
Mercer International, Inc.7.375% 01/15/20250.1%
OM Asset Management plc4.800% 07/27/20260.1%
Imperial Metals Corp.7.000% 03/15/20190.1%
Bank of America Corp.6.250% 12/31/20990.1%
MGM Resorts International4.625% 09/01/20260.1%
JD Power & Associates9.500% 06/09/20240.1%
VF Holding Corp10.053% 07/02/20260.1%
Gray Television, Inc.5.125% 10/15/20240.1%
MSCI, Inc.5.375% 05/15/20270.1%
Joseph T Ryerson & Son, Inc.11.000% 05/15/20220.1%
Medplast Holdings Inc10.553% 06/22/20260.1%
HCA, Inc.5.250% 04/15/20250.1%
Clearway Energy Operating LLC5.000% 09/15/20260.1%
Turkiye Garanti Bankasi AS5.250% 09/13/20220.1%
HCA, Inc.5.875% 03/15/20220.1%
Trimas Corp.4.875% 10/15/20250.1%
Ashtead Capital, Inc.5.250% 08/01/20260.1%
Targa Resources Partners L.P.6.500% 07/15/20270.1%
American Axle & Manufacturing, Inc.6.500% 04/01/20270.1%
AMC Entertainment Holdings, Inc.6.125% 05/15/20270.1%
Hilton Domestic Operating Co, Inc.4.250% 09/01/20240.1%
Transocean Pontus Ltd6.125% 08/01/20250.1%
Univision Communications, Inc.5.125% 05/15/20230.1%
CIT Group, Inc.5.250% 03/07/20250.1%
Luxfer Holdings PLC0.000% -0.1%
High Ridge Brands Co.8.875% 03/15/20250.1%
Wyndham Worldwide Corp.5.750% 04/01/20270.1%
HCA, Inc.7.690% 06/15/20250.1%
Teleflex, Inc.4.625% 11/15/20270.1%
Energizer Holdings, Inc.7.750% 01/15/20270.1%
UC Holdings0.000% -0.1%
Simmons Foods, Inc.7.750% 01/15/20240.1%
William Lyon Homes, Inc.7.000% 08/15/20220.1%
Ziggo Bond Co. BV5.875% 01/15/20250.1%
Univision Communications, Inc.5.125% 02/15/20250.1%
Lennar Corp.4.750% 11/29/20270.1%
Prime Security Services Borrower LLC / Prime Finan9.250% 05/15/20230.1%
Oceaneering International, Inc.6.000% 02/01/20280.1%
Albertsons Cos LLC / Safeway, Inc. / New Albertson5.750% 03/15/20250.1%
Panda Temple Power, LLC9.800% 02/07/20230.1%
Manchester United Plc0.000% -0.1%
General Electric Co.3.375% 03/11/20240.1%
CF Industries, Inc.4.950% 06/01/20430.0%
Chemours Co.7.000% 05/15/20250.0%
Ascena Retail Group, Inc.7.000% 08/21/20220.0%
CFX Escrow Corp6.375% 02/15/20260.0%
Piaggio & C SpA3.625% 04/30/20250.0%
Monitronics International, Inc.9.125% 04/01/20200.0%
CIT Group, Inc.6.000% 04/01/20360.0%
General Motors Co.4.200% 10/01/20270.0%
CSI Compressco LP / CSI Compressco Finance Inc7.250% 08/15/20220.0%
Chemours Co.5.375% 05/15/20270.0%
Credit Index Swap5.000% 12/20/20230.0%
Chaparral Energy, Inc.0.000% -0.0%
PG&E Corp5.029% 12/31/20200.0%
HEICO Corp.0.000% -0.0%
Gopher Sub, Inc.8.484% 02/02/20260.0%
Nemak S.A.B. de C.V.4.750% 01/23/20250.0%
Hot Topic, Inc.9.250% 06/15/20210.0%
HCA, Inc.5.875% 02/15/20260.0%
Claire's Stores, Inc.14.000% 09/05/20380.0%
Claire's Stores, Inc.0.000% 10/12/20380.0%
PVH Corp.3.125% 12/15/20270.0%
Ashtead Capital, Inc.4.375% 08/15/20270.0%
Remington Outdoor Co. Inc.0.000% -0.0%
Netflix, Inc.4.875% 04/15/20280.0%
FGI Operating Company, LLC0.000% 05/15/20220.0%
Owens Corning4.400% 01/30/20480.0%
Owens Corning4.300% 07/15/20470.0%
Templar Energy LLC0.000% -0.0%
Credit Default Swap1.000% 06/20/20200.0%
Tonon Luxembourg S.A.10.500% 05/14/20240.0%
Morgan Stanley Capital I Trust5.510% 07/15/20560.0%
Templar Energy LLC0.000% -0.0%
FX GBP/USD 03/190.000% 03/05/20190.0%
Rack Holdings9.758% 10/03/20220.0%
Penson Technologies LLC0.000% -0.0%
Afren plc11.500% 02/01/20160.0%
Afren plc10.250% 04/08/20190.0%
Afren plc6.625% 12/09/20200.0%
FX USD/EUR 03/190.000% 03/07/20190.0%
FX EUR/USD 02/190.000% 02/19/20190.0%
FX EUR/USD 02/190.000% 02/19/20190.0%
Fairway Group Holdings Corp.0.000% 11/24/20230.0%
Fairway Group Holdings Corp.0.000% 02/24/20240.0%
FX EUR/USD 02/190.000% 02/19/20190.0%
FX EUR/USD 02/190.000% 02/19/20190.0%
FX EUR/USD 02/190.000% 02/19/20190.0%
FX EUR/USD 02/190.000% 02/19/20190.0%
US 10YR ULTRA FUT 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 10YR NOTE (CBT)MAR190.000% 03/29/20190.0%
Mirabela Nickel Ltd.1.000% 09/16/20440.0%
Washington Mutual, Inc.6.875% 06/15/20110.0%
General Motors Co.7.200% 01/15/20490.0%
Momentive Performance Escrow0.000% 12/31/20490.0%
FX EUR/USD 02/190.000% 02/19/20190.0%
FX USD/EUR 03/190.000% 03/07/20190.0%
FX EUR/USD 02/190.000% 02/19/20190.0%
FX EUR/USD 02/190.000% 02/19/20190.0%
Claire's Stores, Inc.0.000% 09/15/20220.0%
Remington Outdoor Co. Inc.0.000% -0.0%
Fairway Group Acquisition Company0.000% -0.0%
EURO-BOBL FUT Mar190.000% 03/11/20190.0%
EURO-BUND FUTURE Mar190.000% 03/11/20190.0%
US LONG BOND(CBT) MAR190.000% 03/29/20190.0%
FX EUR/USD 02/190.000% 02/19/20190.0%
FX USD/EUR 03/190.000% 03/07/20190.0%
US 2YR NOTE (CBT) MAR190.000% 04/03/20190.0%
FX USD/CAD 03/190.000% 03/05/20190.0%
FX USD/EUR 03/190.000% 03/07/20190.0%
FX USD/EUR 02/190.000% 02/19/20190.0%
FX USD/GBP 03/190.000% 03/05/20190.0%
J.P.Morgan Securities LLC0.010% -0.0%

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 02/28/2019

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

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 03/22/2019
$0.067
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 02/28/2019 $0.03367 $7.31
Daily Daily 01/31/2019 $0.03426 $7.23

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
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 02/28/2019

1.20%

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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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
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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.

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