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High Yield Fund

Daily price w/o sales charge as of 09/20/2019

$7.49

arrowUp$0.01

YTD Returns w/o sales charge as of 09/20/2019

12.32%

Overall Morningstar Ratings

High Yield Bond
as of 08/31/2019

Morningstar rated the Lord Abbett High Yield Fund class R3 share 3, 4 and 4 stars among 615, 532 and 343 High Yield Bond Funds for the overall rating and the 3, 5 and 10 year periods ended 8/31/2019, respectively.

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

Click here to view all legal text including risk information

Summary

Summary

What is the High Yield Fund?

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

A HERITAGE OF HIGH YIELD

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

 

AN OPPORTUNISTIC APPROACH

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

STRONG TRACK RECORD

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

Yield

Dividend Yield 1 as of 09/20/2019  

w/o sales charge 5.08%

30-Day Standardized Yield 2 as of 08/31/2019  

4.50%

Fund Basicsas of 08/30/2019

Total Net Assets
$6.72 B
Inception Date
09/28/2007
Dividend Frequency
Monthly
Fund Expense Ratio
1.20%
Number of Holdings
640

Fund Expense Ratio :

1.20%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 11.55% 4.77% 5.42% 4.51% 8.20% 7.03%
Lipper Category Avg. High Yield Funds 10.35% 5.60% 5.33% 3.77% 7.30% -
ICE BofAML U.S. High Yield Constrained Index 11.15% 6.58% 6.19% 4.85% 8.43% 7.29%

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 11.35% 6.68% 6.99% 4.50% 9.06% 7.12%
Lipper Category Avg. High Yield Funds 9.47% 6.54% 6.50% 3.61% 7.96% -
ICE BofAML U.S. High Yield Constrained Index 10.15% 7.58% 7.54% 4.70% 9.20% 7.32%

Fund Expense Ratio :

1.20%

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

RELATED CONTENT

Our Answers to Six Key Valuation Questions
July 15, 2019

Here, we attempt to sort out the current investment environment—and whether select asset classes still present attractive opportunities.

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: 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 08/30/2019 View Portfolio

Rating Assets
BBB
BB
B
<B
Not Rated

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

Investment Team

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

18 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

28 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Managing Director & Portfolio Manager

11 Years of Industry Experience

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

Contact a Representative

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

Performance

Performance

Dividend Yield 1 as of 09/20/2019  

w/o sales charge 5.08%

30-Day Standardized Yield 2 as of 08/31/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 4.50% 4.50%

Fund Expense Ratio :

1.20%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 11.55% 4.77% 5.42% 4.51% 8.20% 7.03%
Lipper Category Avg. High Yield Funds 10.35% 5.60% 5.33% 3.77% 7.30% -
ICE BofAML U.S. High Yield Constrained Index 11.15% 6.58% 6.19% 4.85% 8.43% 7.29%

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 11.35% 6.68% 6.99% 4.50% 9.06% 7.12%
Lipper Category Avg. High Yield Funds 9.47% 6.54% 6.50% 3.61% 7.96% -
ICE BofAML U.S. High Yield Constrained Index 10.15% 7.58% 7.54% 4.70% 9.20% 7.32%

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 7.39% 3.69% - - 12.35%
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 08/30/2019

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 6/30/2019

  • High yield bonds posted positive returns over the quarter, outperforming the investment grade market, as represented by the Bloomberg Barclays U.S. Aggregate Bond Index.
  • The portfolio remains overweight the basic industry sector, specifically to the building products and homebuilders segments, although we brought down the portfolio’s allocation to trade-sensitive segments such as metals, industrials, and chemicals over the quarter.
  • The portfolio remains underweight the energy sector. Although we believe that the demand picture should improve as a result of easing trade tensions, we see oversupply issues that will likely lead to downward pressure in oil prices in the back half of the year.
  • The telecom sector remains the portfolio’s largest underweight, as we believe that, in addition to secular issues faced by the wireline segment, idiosyncratic issues continue to plague major wireline companies.
  • As of quarter-end, the portfolio had modest allocations to out-of-index sectors, such as bank loans, convertibles, investment grade bonds, and equities. We believe select exposures to these sectors offer attractive risk-reward opportunities, potential portfolio diversification benefits and avenues for liquidity.
  • We continue to believe that general economic fundamentals and strong expected earnings growth will favor the lower-rated segments of the high yield market. We expect default rates to remain subdued and believe that high yield spreads can grind tighter from current levels.

Portfolio Details as of 08/30/2019

Total Net Assets
$6.72 B
Number of Issues
640
Average Coupon
6.35%
Average Maturity
6.56 Years
Average Effective Duration
3.88 Years

To view definitions for the above Portfolio Details, Click here.

Average Coupon - The weighted average annual rate of interest on a bond’s face value that the issuer agrees to pay the holder until maturity for all the securities in a portfolio.

Average Maturity - The length of time until the average security in a portfolio will mature or be redeemed by its issuer in proportion to its dollar value. Indicating a portfolio’s sensitivity to general market interest rate changes, a longer average maturity implies greater relative portfolio volatility.

Average Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.

Holding Coupon Maturity Assets
Sprint Capital Corp. 6.875% 11/15/2028 1.9%
DISH DBS Corp. 7.750% 07/01/2026 1.0%
Ally Financial, Inc. 8.000% 11/01/2031 0.9%
CCO Holdings LLC / CCO Holdings Capital Corp. 5.875% 05/01/2027 0.7%
Numericable Group S.A. 7.375% 05/01/2026 0.7%
Tesla Motors, Inc. 5.300% 08/15/2025 0.7%
TransDigm, Inc. 6.375% 06/15/2026 0.6%
Calpine Corp. 5.750% 01/15/2025 0.6%
CCO Holdings LLC / CCO Holdings Capital Corp. 5.125% 05/01/2027 0.6%
Valeant Pharmaceuticals International, Inc. 8.500% 01/31/2027 0.6%
% of Total Assets 8.3%

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%
DISH DBS Corp.7.750% 07/01/20261.0%
Ally Financial, Inc.8.000% 11/01/20310.9%
CCO Holdings LLC / CCO Holdings Capital Corp.5.875% 05/01/20270.7%
Numericable Group S.A.7.375% 05/01/20260.7%
Tesla Motors, Inc.5.300% 08/15/20250.6%
TransDigm, Inc.6.375% 06/15/20260.6%
Valeant Pharmaceuticals International, Inc.8.500% 01/31/20270.5%
Calpine Corp.5.750% 01/15/20250.5%
CCO Holdings LLC / CCO Holdings Capital Corp.5.125% 05/01/20270.5%
Freeport-McMoRan, Inc.3.875% 03/15/20230.5%
Intelsat Jackson Holdings SA5.500% 08/01/20230.5%
Netflix, Inc.3.625% 05/15/20270.5%
CCO Holdings LLC / CCO Holdings Capital Corp.5.750% 02/15/20260.5%
General Electric Co.5.000% 12/31/20990.5%
Springleaf Finance Corp.6.125% 03/15/20240.5%
HCA, Inc.5.500% 06/15/20470.5%
MEG Energy Corp.7.000% 03/31/20240.5%
Tenet Healthcare Corp.5.125% 05/01/20250.5%
CSC Holdings LLC5.500% 04/15/20270.5%
United Rentals, Inc.4.875% 01/15/20280.4%
Netflix, Inc.5.875% 02/15/20250.4%
Sinclair Broadcast Group, Inc.5.125% 02/15/20270.4%
Navient Corp.6.125% 03/25/20240.4%
Cheniere Corpus Christi Holdings LLC5.875% 03/31/20250.4%
CSC Holdings LLC10.875% 10/15/20250.4%
Verscend Escrow Corp9.750% 08/15/20260.4%
NRG Energy, Inc.5.750% 01/15/20280.4%
RegionalCare Hospital Partners Holdings Inc / Life9.750% 12/01/20260.4%
CF Industries, Inc.5.150% 03/15/20340.4%
Cheniere Corpus Christi Holdings LLC5.125% 06/30/20270.3%
DKT Finance ApS9.375% 06/17/20230.3%
Numericable Group S.A.8.125% 02/01/20270.3%
Western Digital Corp.4.750% 02/15/20260.3%
Sirius XM Radio, Inc.5.000% 08/01/20270.3%
T-Mobile USA, Inc.6.500% 01/15/20260.3%
MGM Resorts International4.625% 09/01/20260.3%
TransDigm, Inc.6.250% 03/15/20260.3%
Navient Corp.6.750% 06/25/20250.3%
Pacific Gas & Electric Co.6.050% 03/01/20340.3%
AMC Networks, Inc.4.750% 08/01/20250.3%
Bombardier, Inc.7.500% 03/15/20250.3%
Match Group, Inc.5.000% 12/15/20270.3%
ViaSat, Inc.5.625% 04/15/20270.3%
Intesa Sanpaolo SpA5.710% 01/15/20260.3%
Centene Corp.4.750% 01/15/20250.3%
RBS Global & Rexnord Corp.4.875% 12/15/20250.3%
Diamondback Energy, Inc.4.750% 11/01/20240.3%
IRB Holding Corp6.750% 02/15/20260.3%
Ziggo BV5.500% 01/15/20270.3%
Oasis Petroleum, Inc.6.250% 05/01/20260.3%
Molina Healthcare, Inc.4.875% 06/15/20250.3%
Tullow Oil plc7.000% 03/01/20250.3%
Transocean Poseidon Ltd6.875% 02/01/20270.3%
Tenet Healthcare Corp.6.750% 06/15/20230.3%
Tenet Healthcare Corp.6.250% 02/01/20270.3%
Century Communities, Inc.5.875% 07/15/20250.3%
Rio Oil Finance Trust Series 2018-18.200% 04/06/20280.3%
CIT Group, Inc.6.125% 03/09/20280.3%
Albertsons Cos LLC / Safeway, Inc. / New Albertson6.625% 06/15/20240.3%
Ingevity Corp.4.500% 02/01/20260.3%
VOC Escrow Ltd5.000% 02/15/20280.3%
Community Health Systems, Inc.8.000% 11/15/20190.3%
CSC Holdings LLC6.500% 02/01/20290.3%
Yingde Gases Investment Ltd6.250% 01/19/20230.3%
Pulte Group, Inc.5.000% 01/15/20270.3%
Diamond Sports Group LLC / Diamond Sports Finance5.375% 08/15/20260.3%
Mueller Water Products, Inc.5.500% 06/15/20260.3%
Magnolia Oil & Gas Operating LLC / Magnolia Oil &6.000% 08/01/20260.3%
PGT Escrow Issuer Inc6.750% 08/01/20260.3%
Macquarie Bank Ltd./London6.125% 03/08/21670.2%
Jagged Peak Energy LLC5.875% 05/01/20260.2%
CSL Capital, LLC8.250% 10/15/20230.2%
Berry Petroleum Co.7.000% 02/15/20260.2%
Ashland, Inc.6.875% 05/15/20430.2%
Popular, Inc.6.125% 09/14/20230.2%
Baffinland Iron Mines Corp / Baffinland Iron Mines8.750% 07/15/20260.2%
Radian Group, Inc.4.875% 03/15/20270.2%
Tronox Finance PLC5.750% 10/01/20250.2%
Drive Chassis Holdco LLC10.588% 04/10/20260.2%
JBS USA LLC/JBS USA Finance, Inc.6.750% 02/15/20280.2%
Apergy Corp6.375% 05/01/20260.2%
Summit Materials LLC5.125% 06/01/20250.2%
Beacon Roofing Supply, Inc.4.875% 11/01/20250.2%
Citgo Holding, Inc.10.750% 02/15/20200.2%
Synovus Financial Corp.5.900% 02/07/20290.2%
Netflix, Inc.4.875% 04/15/20280.2%
Nexstar Escrow Inc5.625% 07/15/20270.2%
Churchill Downs, Inc.4.750% 01/15/20280.2%
Mattel, Inc.6.750% 12/31/20250.2%
MPT Operating Partnership L.P.5.000% 10/15/20270.2%
Netflix, Inc.4.625% 05/15/20290.2%
Wabtec Corp.3.450% 11/15/20260.2%
Valeant Pharmaceuticals International, Inc.5.875% 05/15/20230.2%
CONSOL Energy Inc11.000% 11/15/20250.2%
Centene Corp.5.375% 06/01/20260.2%
Lennar Corp.4.750% 05/30/20250.2%
HCA, Inc.8.360% 04/15/20240.2%
Mclaren Finance PLC5.000% 08/01/20220.2%
Globalfoundries Inc6.250% 05/23/20260.2%
Ball Corp.4.875% 03/15/20260.2%
Brink's Co/The4.625% 10/15/20270.2%
Cemig Geracao e Transmissao SA9.250% 12/05/20240.2%
Berry Plastics Corp.4.875% 07/15/20260.2%
Sensata Technologies BV5.625% 11/01/20240.2%
Altice Financing S.A.7.500% 05/15/20260.2%
Intelsat Luxembourg S.A.8.125% 06/01/20230.2%
Under Armour, Inc.3.250% 06/15/20260.2%
William Lyon Homes, Inc.6.625% 07/15/20270.2%
Diebold, Inc.8.500% 04/15/20240.2%
Hilton Domestic Operating Co, Inc.5.125% 05/01/20260.2%
Micron Technology, Inc.5.327% 02/06/20290.2%
Stena AB7.000% 02/01/20240.2%
New Gold, Inc.6.250% 11/15/20220.2%
Genworth Holdings Inc4.900% 08/15/20230.2%
Waste Pro USA Inc5.500% 02/15/20260.2%
CSN Resources SA7.625% 04/17/20260.2%
Shea Homes LP / Shea Homes Funding Corp.6.125% 04/01/20250.2%
Post Holdings, Inc.5.500% 03/01/20250.2%
NGPL Pipeco LLC4.875% 08/15/20270.2%
Citgo Holding, Inc.9.250% 08/01/20240.2%
California Resources Corp.8.000% 12/15/20220.2%
Williams Scotsman International Inc6.875% 08/15/20230.2%
WeWork Cos Inc7.875% 05/01/20250.2%
Penn National Gaming, Inc.5.625% 01/15/20270.2%
BankUnited, Inc.4.875% 11/17/20250.2%
Buena Vista Gaming Authority13.000% 04/01/20230.2%
Republic of Argentina6.875% 04/22/20210.2%
Azul Investments LLP5.875% 10/26/20240.2%
Hub International Ltd.7.000% 05/01/20260.2%
Sinclair Broadcast Group, Inc.5.875% 03/15/20260.2%
Everi Payments Inc7.500% 12/15/20250.2%
II-VI Inc6.062% 03/08/20260.2%
FAGE International SA/ FAGE USA Dairy Industry Inc5.625% 08/15/20260.2%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.2%
Sandy Creek Energy Associates5.000% 11/09/20200.2%
Twin River Worldwide Holdings Inc6.750% 06/01/20270.2%
W&T Offshore, Inc.9.750% 11/01/20230.2%
Parsley Energy LLC5.625% 10/15/20270.2%
Cogent Communications Group, Inc.5.375% 03/01/20220.2%
GCI LLC6.875% 04/15/20250.2%
Blue Cube Spinco, Inc.10.000% 10/15/20250.2%
Caesars Palace Las Vegas Trust 2017-VICI4.354% 10/15/20340.2%
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell o5.000% 06/01/20240.2%
EW Scripps Co.5.125% 05/15/20250.2%
Callon Petroleum Co.6.125% 10/01/20240.2%
Booz Allen Hamilton, Inc.5.125% 05/01/20250.2%
DaVita, Inc.5.000% 05/01/20250.2%
Coty, Inc.6.500% 04/15/20260.2%
Intelsat Jackson Holdings SA8.500% 10/15/20240.2%
Toll Brothers Finance Corp.4.875% 03/15/20270.2%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.2%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.2%
Aston Martin Capital Holdings Ltd6.500% 04/15/20220.2%
Frontera Generation Hold6.629% 05/02/20250.2%
AHP Health Partners Inc9.750% 07/15/20260.2%
SPX FLOW, Inc.5.625% 08/15/20240.2%
BEP Ulterra Holdings Inc.7.484% 11/26/20250.2%
Rede D'or Finance Sarl4.950% 01/17/20280.2%
SM Energy Co.6.625% 01/15/20270.2%
Promontoria Holding 264 BV6.750% 08/15/20230.2%
Geo Group, Inc.6.000% 04/15/20260.2%
Horizon Pharma USA Inc5.500% 08/01/20270.2%
William Carter Co.5.625% 03/15/20270.2%
Aegea Finance Sarl5.750% 10/10/20240.2%
Horizon Pharma USA Inc8.750% 11/01/20240.2%
NextEra Energy Operating Partners LP4.500% 09/15/20270.2%
BCPE Cycle Merger Sub II Inc10.625% 07/15/20270.2%
Gray Television, Inc.7.000% 05/15/20270.2%
TRI Pointe Homes LLC5.250% 06/01/20270.2%
Centennial Resource Production LLC5.375% 01/15/20260.2%
Belo Corp.7.250% 09/15/20270.2%
Stoneway Capital Corp10.000% 03/01/20270.2%
Lamb Weston Holdings, Inc.4.875% 11/01/20260.2%
Covanta Holding Corp.6.000% 01/01/20270.2%
Banff Merger Sub Inc9.750% 09/01/20260.2%
Yum! Brands, Inc.5.350% 11/01/20430.2%
Surgery Center Holdings, Inc.10.000% 04/15/20270.2%
AMC Networks, Inc.5.000% 04/01/20240.2%
HCA, Inc.5.875% 02/01/20290.2%
Cheniere Energy Partners LP5.625% 10/01/20260.2%
WPX Energy, Inc.5.250% 09/15/20240.2%
Republic of Argentina5.875% 01/11/20280.2%
HCA, Inc.7.500% 12/15/20230.2%
Enterprise Development Authority/The12.000% 07/15/20240.2%
Intertape Polymer Group Inc7.000% 10/15/20260.2%
HAT Holdings I LLC / HAT Holdings II LLC5.250% 07/15/20240.2%
Hilton Domestic Operating Co, Inc.4.875% 01/15/20300.2%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.2%
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell o4.750% 06/01/20270.2%
CSI Compressco LP / CSI Compressco Finance Inc7.500% 04/01/20250.2%
Oceaneering International, Inc.6.000% 02/01/20280.2%
Gray Television, Inc.5.875% 07/15/20260.2%
Geopark Ltd.6.500% 09/21/20240.2%
Hadrian Merger Sub Inc8.500% 05/01/20260.2%
Ladder Capital Finance Holdings LLC/Ladder Capital5.250% 10/01/20250.2%
Credit Suisse Group AG7.250% 09/12/21680.2%
Texas Capital Bank NA/Dallas TX5.250% 01/31/20260.2%
Williams Scotsman International Inc7.875% 12/15/20220.2%
William Lyon Homes, Inc.5.875% 01/31/20250.2%
Altice Luxembourg SA10.500% 05/15/20270.2%
Century Communities, Inc.6.750% 06/01/20270.2%
Marriott Ownership Resorts Inc / ILG LLC6.500% 09/15/20260.2%
Provident Funding Associates L.P. / PFG Finance Co6.375% 06/15/20250.2%
Autopistas del Sol SA/Costa Rica7.375% 12/30/20300.2%
Rumo Luxembourg Sarl5.875% 01/18/20250.2%
H&E Equipment Services, Inc.5.625% 09/01/20250.2%
Sirius XM Radio, Inc.4.625% 07/15/20240.2%
IAA Inc5.500% 06/15/20270.2%
Wendy's International, Inc.7.000% 12/15/20250.2%
Boyd Gaming Corp.6.000% 08/15/20260.2%
TopBuild Corp.5.625% 05/01/20260.2%
UAL Corp.4.875% 01/15/20250.2%
Masonite International Corp.5.375% 02/01/20280.2%
MEG Energy Corp.6.500% 01/15/20250.2%
Titan Acquisition Ltd / Titan Co-Borrower LLC7.750% 04/15/20260.2%
United Rentals, Inc.5.250% 01/15/20300.2%
American Woodmark Corp.4.875% 03/15/20260.2%
Masonite International Corp.5.750% 09/15/20260.2%
Garda World Security Corp8.750% 05/15/20250.2%
YPF Energia Electrica SA10.000% 07/25/20260.2%
Steel Dynamics, Inc.4.125% 09/15/20250.2%
DaVita, Inc.5.125% 07/15/20240.2%
Pactiv Corp.7.950% 12/15/20250.2%
VeriSign, Inc.5.250% 04/01/20250.2%
Electricite de France SA5.625% 01/22/21640.2%
Univision Communications Inc.4.984% 03/15/20240.2%
Ashton Woods USA LLC / Ashton Woods Finance Co.6.750% 08/01/20250.2%
Fair Isaac Corp.5.250% 05/15/20260.2%
Country Garden Holdings Co. Ltd.5.125% 01/17/20250.2%
Meredith Corp.6.875% 02/01/20260.2%
Quicken Loans Inc5.250% 01/15/20280.2%
Service Corp. International4.625% 12/15/20270.2%
Cheniere Energy Partners LP5.250% 10/01/20250.2%
Hecla Mining Co.6.875% 05/01/20210.2%
Hillman Group, Inc.6.375% 07/15/20220.2%
j2 Cloud Services LLC / j2 Global Co-Obligor Inc6.000% 07/15/20250.2%
Exterran Energy Solutions L.P. / EES Finance Corp.8.125% 05/01/20250.2%
Air Medical Group Holdings, Inc.6.375% 05/15/20230.2%
Boston Beer Co., Inc.0.000% -0.2%
SM Energy Co.6.750% 09/15/20260.2%
Plains All American Pipeline L.P.6.125% 12/31/20990.2%
Itron, Inc.5.000% 01/15/20260.2%
Stevens Holding Co Inc6.125% 10/01/20260.2%
Cardtronics Inc / Cardtronics USA Inc5.500% 05/01/20250.2%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.2%
Longview Power8.260% 03/25/20210.2%
ProAmpac PG Borrower LLC5.897% 11/20/20230.1%
VF Holding Corp9.484% 07/02/20260.1%
Coeur Mining, Inc.5.875% 06/01/20240.1%
JB Poindexter & Co., Inc.7.125% 04/15/20260.1%
U.S. Silica Company6.250% 05/01/20250.1%
BWAY Holding Co.7.250% 04/15/20250.1%
InterXion Holding NV4.750% 06/15/20250.1%
Techem Verwaltungsgesellschaft 674 mbH6.000% 07/30/20260.1%
Nine Energy Service Inc8.750% 11/01/20230.1%
Catalent Pharma Solutions Inc5.000% 07/15/20270.1%
Eskom Holdings SOC Ltd.8.450% 08/10/20280.1%
Uber Technologies Inc8.000% 11/01/20260.1%
Helix Gen Funding, LLC5.984% 06/03/20240.1%
Huntington Bancshares, Inc.5.700% 12/31/20990.1%
Garrett LX I Sarl / Garrett Borrowing LLC5.125% 10/15/20260.1%
Boyne USA Inc7.250% 05/01/20250.1%
Barminco Finance Pty Ltd.6.625% 05/15/20220.1%
Chaparral Energy, Inc.8.750% 07/15/20230.1%
Rockpoint Gas Storage Canada Ltd7.000% 03/31/20230.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.000% 12/01/20240.1%
Surgery Center Holdings, Inc.6.750% 07/01/20250.1%
Targa Resources Partners L.P.5.375% 02/01/20270.1%
Sealed Air Corp.6.875% 07/15/20330.1%
Summit Materials LLC6.500% 03/15/20270.1%
BCD Acquisition, Inc.9.625% 09/15/20230.1%
Netflix, Inc.3.875% 11/15/20290.1%
Equinix, Inc.2.875% 02/01/20260.1%
Millicom International Cellular S.A.6.625% 10/15/20260.1%
Diamond Sports Group LLC / Diamond Sports Finance6.625% 08/15/20270.1%
Carrizo Oil & Gas, Inc.8.250% 07/15/20250.1%
SPCM S.A.4.875% 09/15/20250.1%
Virgin Media Secured Finance plc4.875% 01/15/20270.1%
CDW Corp.5.500% 12/01/20240.1%
Acrisure LLC / Acrisure Finance Inc8.125% 02/15/20240.1%
CSC Holdings LLC5.750% 01/15/20300.1%
Eoc Group Inc5.484% 02/28/20250.1%
Exterran Partners L.P. / EXLP Finance Corp.6.875% 04/01/20270.1%
PDC Energy, Inc.6.125% 09/15/20240.1%
Clear Channel Worldwide Holdings, Inc.9.250% 02/15/20240.1%
Clearway Energy Operating LLC5.750% 10/15/20250.1%
Forming Machining Indust6.580% 10/09/20250.1%
Extraction Oil & Gas Inc7.375% 05/15/20240.1%
Oceaneering International, Inc.4.650% 11/15/20240.1%
Murphy Oil USA, Inc.5.625% 05/01/20270.1%
MPH Acquisition Holdings LLC7.125% 06/01/20240.1%
Pentair Finance SA4.500% 07/01/20290.1%
Hill-Rom Holdings, Inc.5.000% 02/15/20250.1%
Bristow Group, Inc.8.750% 03/01/20230.1%
Compass Minerals International, Inc.4.875% 07/15/20240.1%
Guitar Center, Inc.9.500% 10/15/20210.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.750% 10/01/20250.1%
HCA, Inc.5.375% 02/01/20250.1%
Mobile Mini, Inc.5.875% 07/01/20240.1%
OCI NV6.625% 04/15/20230.1%
Indigo Natural Resources LLC6.875% 02/15/20260.1%
AES Corp.4.500% 03/15/20230.1%
Targa Resources Partners L.P.4.250% 11/15/20230.1%
WPX Energy, Inc.5.750% 06/01/20260.1%
Inter Media and Communication SpA4.875% 12/31/20220.1%
Alliant Holdings Intermediate LLC8.250% 08/01/20230.1%
Pulte Group, Inc.6.375% 05/15/20330.1%
Dutch Lion BV11.250% 06/15/20200.1%
Transocean Pontus Ltd6.125% 08/01/20250.1%
Greenko Solar Mauritius Ltd5.950% 07/29/20260.1%
Provincia de Rio Negro7.750% 12/07/20250.1%
Provincia de la Rioja9.750% 02/24/20250.1%
Ahern Rentals, Inc.7.375% 05/15/20230.1%
Entertainment One Ltd4.625% 07/15/20260.1%
Mirati Therapeutics, Inc.0.000% -0.1%
Revlon, Inc. Class A5.571% 09/07/20230.1%
Targa Resources Partners L.P.5.875% 04/15/20260.1%
Steel Dynamics, Inc.5.000% 12/15/20260.1%
Energizer Holdings, Inc.6.375% 07/15/20260.1%
Caesars Palace Las Vegas Trust 2017-VICI4.354% 10/15/20340.1%
Hawaiian Airlines Class B Pass Through Certificate4.950% 01/15/20220.1%
MHP Lux SA6.950% 04/03/20260.1%
Schaeffler Verwaltung Zwei GmbH4.750% 09/15/20260.1%
NSG Holdings LLC / NSG Holdings, Inc.7.750% 12/15/20250.1%
Trident Merger Sub Inc6.625% 11/01/20250.1%
Antero Midstream Partners L.P. / Antero Midstream5.375% 09/15/20240.1%
Sprint Corp.7.625% 03/01/20260.1%
Merlin Entertainments PLC5.750% 06/15/20260.1%
Eldorado Resorts, Inc.6.000% 04/01/20250.1%
AES Corp.5.125% 09/01/20270.1%
Tempo Acquisition LLC / Tempo Acquisition Finance6.750% 06/01/20250.1%
United PF Holdings LLC6.825% 06/10/20260.1%
Provincia de Cordoba7.450% 09/01/20240.1%
Louisiana-Pacific Corp.4.875% 09/15/20240.1%
Marble II Pte Ltd.5.300% 06/20/20220.1%
Spotify Technology SA0.000% -0.1%
Freshpet, Inc.0.000% -0.1%
Provincia de Mendoza Argentina8.375% 05/19/20240.1%
SPX FLOW, Inc.5.875% 08/15/20260.1%
Scotts Miracle-Gro Co.0.000% -0.1%
Buenos Aires, Argentina7.500% 06/01/20270.1%
Topgolf International, Inc.7.959% 02/09/20260.1%
Kernel Holding SA8.750% 01/31/20220.1%
Trade Me Group Ltd6.826% 05/01/20260.1%
Wabash National Corp.5.500% 10/01/20250.1%
Holly Energy Partners L.P. / Holly Energy Finance6.000% 08/01/20240.1%
Ritchie Bros Auctioneers, Inc.5.375% 01/15/20250.1%
Advanced Micro Devices, Inc.2.125% 09/01/20260.1%
Wyndham Hotels & Resorts Inc5.375% 04/15/20260.1%
Altice Luxembourg SA7.625% 02/15/20250.1%
Central American Bottling Corp.5.750% 01/31/20270.1%
New Enterprise Stone & Lime Co., Inc.6.250% 03/15/20260.1%
Lower Cadence Holdings L6.269% 05/08/20260.1%
Amsted Industries, Inc.5.625% 07/01/20270.1%
Trimas Corp.4.875% 10/15/20250.1%
WTT Investment Ltd/Hong Kong5.500% 11/21/20220.1%
Sotheby's4.875% 12/15/20250.1%
Entercom Media Corp6.500% 05/01/20270.1%
Sonic Automotive, Inc.6.125% 03/15/20270.1%
Qorvo, Inc.5.500% 07/15/20260.1%
Eldorado Resorts, Inc.6.000% 09/15/20260.1%
Yak Access LLC12.319% 07/10/20260.1%
NVA Holdings Inc/United States6.875% 04/01/20260.1%
Buckeye Partners L.P.3.950% 12/01/20260.1%
Dole Food Co., Inc.7.250% 06/15/20250.1%
Latam Finance Ltd.7.000% 03/01/20260.1%
Aspen Technology, Inc.0.000% -0.1%
Con-way, Inc.6.700% 05/01/20340.1%
Freedom Mortgage Corp8.250% 04/15/20250.1%
Jonah Energy LLC / Jonah Energy Finance Corp7.250% 10/15/20250.1%
Fresh Market, Inc.9.750% 05/01/20230.1%
Darling Global Finance BV3.625% 05/15/20260.1%
Gateway Casinos & Entertainment Ltd8.250% 03/01/20240.1%
Nokia Corp.4.375% 06/12/20270.1%
Excelitas Technologies9.832% 11/15/20250.1%
WhatABrands LLC5.538% 07/19/20260.1%
CCO Holdings LLC / CCO Holdings Capital Corp.5.000% 02/01/20280.1%
Novelis Corp.5.875% 09/30/20260.1%
ServiceMaster Co LLC/The5.125% 11/15/20240.1%
Great Lakes Dredge & Dock Corp.8.000% 05/15/20220.1%
Bacardi Ltd.5.300% 05/15/20480.1%
Pharmaceutical Product Development LLC6.375% 08/01/20230.1%
Chegg, Inc.0.250% 05/15/20230.1%
KGA Escrow LLC7.500% 08/15/20230.1%
Live Nation Entertainment, Inc.5.625% 03/15/20260.1%
YETI Holdings Inc0.000% -0.1%
Press Ganey Inc5.813% 07/22/20260.1%
Hughes Satellite Systems Corp.5.250% 08/01/20260.1%
Murphy Oil Corp.6.875% 08/15/20240.1%
Delhi International Airport Pvt Ltd6.450% 06/04/20290.1%
Elwood Energy LLC8.159% 07/05/20260.1%
Community Health Systems, Inc.5.125% 08/01/20210.1%
LBC Tank Terminals Holding Netherlands BV6.875% 05/15/20230.1%
SolarEdge Technologies, Inc.0.000% -0.1%
Acrisure LLC / Acrisure Finance Inc7.000% 11/15/20250.1%
Province of Santa Fe6.900% 11/01/20270.1%
Radiate Holdco LLC / Radiate Finance Inc6.625% 02/15/20250.1%
MGM Growth Properties Operating Partnership LP / M5.625% 05/01/20240.1%
Buckeye Partners L.P.6.375% 01/22/20780.1%
Theta Capital Pte Ltd.6.750% 10/31/20260.1%
Golar LNG Partners L.P.8.934% 05/18/20210.1%
Cliffs Natural Resources, Inc.5.875% 06/01/20270.1%
Triumph Group, Inc.7.750% 08/15/20250.1%
Ziggo Bond Co. BV5.875% 01/15/20250.1%
Delphi Technologies PLC5.000% 10/01/20250.1%
Weight Watchers International, Inc.8.625% 12/01/20250.1%
Telefonica Celular del Paraguay SA5.875% 04/15/20270.1%
Insulet Corp.1.375% 11/15/20240.1%
Navicure Inc9.734% 10/31/20250.1%
Generac Holdings, Inc.0.000% -0.1%
Station Casinos LLC5.000% 10/01/20250.1%
Kuehg Corp10.580% 08/15/20250.1%
Koppers, Inc.6.000% 02/15/20250.1%
Warrior Met Coal Inc8.000% 11/01/20240.1%
GCP Applied Technologies, Inc.5.500% 04/15/20260.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.6.250% 11/01/20280.1%
Valeant Pharmaceuticals International, Inc.7.000% 03/15/20240.1%
Hunt Oil Co of Peru LLC Sucursal Del Peru6.375% 06/01/20280.1%
Telecom Argentina SA8.000% 07/18/20260.1%
Terraform Global Operating LLC6.125% 03/01/20260.1%
Exgen Renewables IV, LLC5.530% 11/28/20240.1%
AssuredPartners Inc7.000% 08/15/20250.1%
Veeva Systems, Inc.0.000% -0.1%
Wyndham Worldwide Corp.5.750% 04/01/20270.1%
Clearway Energy Operating LLC5.000% 09/15/20260.1%
Southwestern Energy Co.7.750% 10/01/20270.1%
Go Daddy Operating Co LLC / GD Finance Co Inc5.250% 12/01/20270.1%
Toll Brothers Finance Corp.4.350% 02/15/20280.1%
Mercadolibre, Inc.2.000% 08/15/20280.1%
Algeco Scotsman Global Finance plc8.000% 02/15/20230.1%
Transocean Proteus Ltd.6.250% 12/01/20240.1%
Fairstone Financial Inc7.875% 07/15/20240.1%
Sally Holdings LLC / Sally Capital, Inc.5.625% 12/01/20250.1%
Shockwave Medical Inc0.000% -0.1%
Stars Group Holdings BV / Stars Group US Co-Borrow7.000% 07/15/20260.1%
MGIC Investment Corp.5.750% 08/15/20230.1%
Endeavor Energy Resources L.P.5.500% 01/30/20260.1%
Zscaler Inc0.000% -0.1%
MTS Systems Corp.5.750% 08/15/20270.1%
Cliffs Natural Resources, Inc.5.750% 03/01/20250.1%
Asbury Automotive Group, Inc.6.000% 12/15/20240.1%
Lonestar II Generation H7.610% 04/20/20260.1%
Permian Resources LLC / AEPB Finance Corp.13.000% 11/30/20200.1%
MarketAxess Holdings, Inc.0.000% -0.1%
Mattel, Inc.5.450% 11/01/20410.1%
Thor Industries, Inc.6.188% 02/01/20260.1%
United Rentals, Inc.4.625% 10/15/20250.1%
Adient US LLC7.000% 05/15/20260.1%
Inmarsat Finance plc6.500% 10/01/20240.1%
LHC3 PLC4.125% 08/15/20240.1%
Walt Disney Co/The0.000% -0.1%
Bahia Sul Holdings GmbH6.000% 01/15/20290.1%
Roku Inc0.000% -0.1%
Dynagas LNG Partners L.P.6.250% 10/30/20190.1%
Six Flags Entertainment Corp.4.875% 07/31/20240.1%
Everbridge, Inc.1.500% 11/01/20220.1%
Mohegan Tribal Gaming Authority7.875% 10/15/20240.1%
Ortho-Clinical Diagnostics Inc / Ortho-Clinical Di6.625% 05/15/20220.1%
Sugarhouse HSP Gaming Prop Mezz LP/Fin Corp.5.875% 05/15/20250.1%
Sage Therapeutics, Inc.0.000% -0.1%
Guardant Health Inc0.000% -0.1%
JD Power & Associates9.500% 06/09/20240.1%
Blueprint Medicines Corp.0.000% -0.1%
Lululemon Athletica, Inc.0.000% -0.1%
PCI Gaming Authority5.234% 05/15/20260.1%
BBA US Holdings Inc5.375% 05/01/20260.1%
BIFM CA Buyer Inc6.272% 05/01/20260.1%
Acadia Healthcare Co., Inc.5.625% 02/15/20230.1%
QEP Resources, Inc.5.250% 05/01/20230.1%
Capitol Investment Merger Sub 2 LLC10.000% 08/01/20240.1%
Norbord, Inc.6.250% 04/15/20230.1%
Shake Shack, Inc.0.000% -0.1%
Rain CII Carbon LLC7.250% 04/01/20250.1%
Airxcel, Inc.7.252% 04/28/20250.1%
Teladoc, Inc.0.000% -0.1%
Simmons Foods, Inc.7.750% 01/15/20240.1%
Griffon Corp.5.250% 03/01/20220.1%
HEICO Corp.0.000% -0.1%
TGP Holdings III LLC10.830% 09/20/20250.1%
Mong Duong Finance Holdings BV5.125% 05/07/20290.1%
Silk Road Medical Inc0.000% -0.1%
Teradyne, Inc.1.250% 12/15/20230.1%
Transocean Phoenix 2 Ltd.7.750% 10/15/20240.1%
Netflix, Inc.5.875% 11/15/20280.1%
MRP Generation Holdings LLC9.359% 10/18/20220.1%
Danaher Corp.0.000% 04/15/20220.1%
Match Group, Inc.0.000% -0.1%
Twitter, Inc.0.250% 06/15/20240.1%
Navistar International Corp.6.625% 11/01/20250.1%
Cloud Crane LLC10.125% 08/01/20240.1%
Dometic Group AB3.000% 05/08/20260.1%
Teledyne Technologies, Inc.0.000% -0.1%
Performance Food Group, Inc.5.500% 06/01/20240.1%
Bright Horizons Family Solutions, Inc.0.000% -0.1%
Lennox International, Inc.0.000% -0.1%
Bill Barrett Corp.7.000% 10/15/20220.1%
Argenx SE0.000% -0.1%
Realogy Group LLC / Realogy Co-Issuer Corp9.375% 04/01/20270.1%
Altran Technologies8.984% 06/26/20260.1%
Deckers Outdoor Corp.0.000% -0.1%
Allison Transmission, Inc.5.000% 10/01/20240.1%
QuickSilver Inc.8.350% 04/08/20240.1%
Flynn Restaurant Group5.734% 06/27/20250.1%
Cumberland Farms Inc6.750% 05/01/20250.1%
Miller Homes Group Holdings PLC5.500% 10/15/20240.1%
CoStar Group, Inc.0.000% -0.1%
Fox Factory Holding Corp.0.000% -0.1%
Wyndham Worldwide Corp.6.350% 10/01/20250.1%
Powerteam Services LLC9.580% 03/06/20260.1%
ViaSat, Inc.0.000% -0.1%
Atlassian Inc0.625% 05/01/20230.1%
Molina Healthcare, Inc.5.375% 11/15/20220.1%
Swift Transportation Co.0.000% -0.1%
Eterna Capital Pte Ltd8.000% 12/11/20220.1%
JetBlue Airways Corp.0.000% -0.1%
SRC Energy Inc6.250% 12/01/20250.1%
Alteryx Inc0.500% 06/01/20230.1%
Matterhorn Merger Sub LLC / Matterhorn Finance Sub8.500% 06/01/20260.1%
First Solar, Inc.0.000% -0.1%
Britax Childcare4.500% 10/15/20200.1%
CMA CGM SA5.250% 01/15/20250.1%
Kumba Iron Ore Ltd.0.000% -0.1%
AerCap Ireland Capital Ltd.3.650% 07/21/20270.1%
Moncler SpA0.000% -0.1%
West Street Merger Sub Inc6.375% 09/01/20250.1%
Pacific Gas & Electric Co.0.000% -0.1%
Flynn Restaurant Group9.360% 06/29/20260.1%
Pinnacle Bidco PLC6.375% 02/15/20250.1%
CPUK Finance Ltd4.875% 08/28/20250.1%
PG&E Corp5.029% 12/31/20200.1%
Levi Strauss & Co.3.375% 03/15/20270.1%
Optimas OE Solutions Holding LLC / Optimas OE Solu8.625% 06/01/20210.1%
Doncasters US Finance LLC (Doncasters US LLC)5.830% 04/09/20200.1%
Cheniere Corpus Christi Holdings LLC7.000% 06/30/20240.1%
Pyxus International Inc9.875% 07/15/20210.1%
Chemours Co.4.000% 05/15/20260.1%
Gibson Brands, Inc0.000% -0.1%
Tenneco, Inc.5.000% 07/15/20260.1%
Chemours Co.5.375% 05/15/20270.1%
Jacobs Entertainment, Inc.7.875% 02/01/20240.1%
Flex Acquisition Co Inc7.875% 07/15/20260.1%
Kenan Advantage Group, Inc.7.875% 07/31/20230.1%
Buckeye Partners L.P.4.125% 12/01/20270.1%
Commercial Barge Line10.984% 11/12/20200.1%
Owens Corning4.300% 07/15/20470.1%
Service Corp. International5.125% 06/01/20290.1%
PetSmart, Inc.5.875% 06/01/20250.1%
Owens Corning4.400% 01/30/20480.1%
CIBT Solutions, Inc.9.210% 06/01/20250.1%
Repligen Corp.0.375% 07/15/20240.1%
Mercer International, Inc.7.375% 01/15/20250.1%
North American Lifting Holdings, Inc. (aka TNT Crane & Rigging, Inc)11.330% 11/26/20210.1%
Lamb Weston Holdings, Inc.4.625% 11/01/20240.1%
Denbury Resources, Inc.9.000% 05/15/20210.1%
Gray Television, Inc.5.125% 10/15/20240.1%
Polaris Intermediate Corp8.500% 12/01/20220.1%
Joseph T Ryerson & Son, Inc.11.000% 05/15/20220.1%
Darling International, Inc.5.250% 04/15/20270.1%
Precision Drilling Corp.5.250% 11/15/20240.1%
NRG Energy, Inc.5.250% 06/15/20290.1%
Wynn Macau Ltd.5.500% 10/01/20270.1%
Southern Graphics Inc9.734% 11/22/20230.1%
Valeant Pharmaceuticals International, Inc.7.250% 05/30/20290.1%
Berry Plastics Corp.5.625% 07/15/20270.1%
Targa Resources Partners L.P.6.500% 07/15/20270.1%
Claire's Stores, Inc.0.000% -0.1%
Ashtead Capital, Inc.5.250% 08/01/20260.1%
Sirius XM Radio, Inc.5.375% 07/15/20260.1%
Extraction Oil & Gas Inc5.625% 02/01/20260.1%
CIT Group, Inc.5.250% 03/07/20250.1%
Province of Neuquen7.500% 04/27/20250.1%
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%
Moxie Patriot LLC8.080% 12/19/20200.1%
Valeant Pharmaceuticals International, Inc.5.500% 03/01/20230.1%
AerCap Ireland Capital Ltd.4.450% 04/03/20260.1%
Lennar Corp.4.750% 11/29/20270.1%
Trivium Packaging Finance BV3.750% 08/15/20260.1%
Ardagh Packaging Finance plc / Ardagh MP Holdings2.125% 08/15/20260.1%
Univision Communications, Inc.5.125% 02/15/20250.1%
QEP Resources, Inc.5.625% 03/01/20260.1%
UC Holdings0.000% -0.1%
Panda Temple Power, LLC9.800% 02/07/20230.1%
Starfruit Finco BV / Starfruit US Holdco LLC8.000% 10/01/20260.1%
Mercer International, Inc.5.500% 01/15/20260.1%
Credit Index Swap5.000% 06/20/20240.1%
CF Industries, Inc.4.950% 06/01/20430.1%
Orchestra Borrower LLC / Orchestra Co-Issuer Inc6.750% 06/15/20220.1%
Teleflex, Inc.4.875% 06/01/20260.1%
RealReal Inc/The0.000% -0.1%
National Beverage Corp0.000% -0.0%
CVR Partners LP / CVR Nitrogen Finance Corp9.250% 06/15/20230.0%
Panda Power Funds8.080% 12/19/20200.0%
Trivium Packaging Finance BV5.500% 08/15/20260.0%
Altice Luxembourg SA7.750% 05/15/20220.0%
AG Merger Sub II Inc10.750% 08/01/20270.0%
Claire's Stores, Inc.14.000% 09/05/20380.0%
CIT Group, Inc.6.000% 04/01/20360.0%
Denbury Resources, Inc.5.500% 05/01/20220.0%
FX USD/GBP 09/190.000% 09/05/20190.0%
PG&E Corp5.029% 12/31/20200.0%
FX USD/EUR 08/190.000% 08/14/20190.0%
Claire's Stores, Inc.0.000% 10/12/20380.0%
HCA, Inc.5.875% 02/15/20260.0%
FX USD/EUR 09/190.000% 09/09/20190.0%
Eoc Group Inc3.560% 02/26/20260.0%
United PF Holdings LLC0.000% 06/10/20260.0%
Trivium Packaging Finance BV8.500% 08/15/20270.0%
Chaparral Energy, Inc.0.000% -0.0%
Lonestar II Generation H7.610% 04/20/20260.0%
Denbury Resources, Inc.7.750% 02/15/20240.0%
FGI Operating Company, LLC0.000% 05/15/20220.0%
Province of Neuquen7.500% 04/27/20250.0%
Repligen Corp.2.125% 06/01/20210.0%
William Lyon Homes, Inc.7.000% 08/15/20220.0%
Credit Default Swap1.000% 06/20/20200.0%
Tonon Luxembourg S.A.6.500% 10/31/20240.0%
Remington Outdoor Co. Inc.0.000% -0.0%
Templar Energy LLC0.000% -0.0%
FX USD/EUR 09/190.000% 09/09/20190.0%
FX USD/GBP 09/190.000% 09/05/20190.0%
Aston Martin Capital Holdings Ltd.5.750% 04/15/20220.0%
Morgan Stanley Capital I Trust5.510% 07/15/20560.0%
FX USD/EUR 09/190.000% 09/09/20190.0%
FX USD/EUR 09/190.000% 09/09/20190.0%
FX USD/GBP 09/190.000% 09/05/20190.0%
Penson Technologies LLC0.000% -0.0%
FX USD/EUR 09/190.000% 09/09/20190.0%
Afren plc6.625% 12/09/20200.0%
FX USD/EUR 08/190.000% 08/14/20190.0%
Afren plc11.500% 02/01/20220.0%
FX USD/EUR 08/190.000% 08/14/20190.0%
FX USD/EUR 08/190.000% 08/14/20190.0%
Afren plc10.250% 04/08/20220.0%
FX USD/EUR 08/190.000% 08/14/20190.0%
Fairway Group Holdings Corp.0.000% 02/24/20240.0%
Fairway Group Holdings Corp.0.000% 11/24/20230.0%
FX USD/EUR 09/190.000% 09/09/20190.0%
FX USD/EUR 09/190.000% 09/09/20190.0%
FX USD/EUR 08/190.000% 08/14/20190.0%
FX USD/EUR 08/190.000% 08/14/20190.0%
FX USD/EUR 08/190.000% 08/14/20190.0%
NEXSTAR BROADCASTING GROUP0.000% 11/30/20190.0%
Remington Outdoor Co. Inc.0.000% -0.0%
Templar Energy LLC0.000% -0.0%
EURO-BOBL FUT Sep190.000% 09/10/20190.0%
EURO-BUND FUTURE Sep190.000% 09/10/20190.0%
Fairway Group Acquisition Company0.000% -0.0%
FX USD/GBP 09/190.000% 09/05/20190.0%
General Motors Co.7.200% 01/15/20490.0%
US 10YR NOTE (CBT)SEP190.000% 09/30/20190.0%
US 10YR ULTRA FUT SEP190.000% 09/30/20190.0%
US 5YR NOTE (CBT) SEP190.000% 10/03/20190.0%
US ULTRA BOND CBT SEP190.000% 09/30/20190.0%
Washington Mutual, Inc.6.875% 06/15/20110.0%
Mirabela Nickel Ltd.1.000% 09/16/20440.0%
FX EUR/USD 08/190.000% 08/14/20190.0%
US LONG BOND(CBT) SEP190.000% 09/30/20190.0%
FX EUR/USD 08/190.000% 08/14/20190.0%
FX EUR/USD 08/190.000% 08/14/20190.0%
US 2YR NOTE (CBT) SEP190.000% 10/03/20190.0%
FX EUR/USD 08/190.000% 08/14/20190.0%
FX EUR/USD 08/190.000% 08/14/20190.0%
FX EUR/USD 09/190.000% 09/09/20190.0%
FX GBP/USD 09/190.000% 09/05/20190.0%

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

Sector Allocationas of 08/30/2019

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

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 09/20/2019
$0.263
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 08/31/2019 $0.03167 $7.46
Daily Daily 07/31/2019 $0.03223 $7.53
Daily Daily 06/30/2019 $0.03348 $7.51
Daily Daily 05/31/2019 $0.03284 $7.33
Daily Daily 04/30/2019 $0.03284 $7.44
Daily Daily 03/31/2019 $0.03289 $7.34
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 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 08/31/2019

1.20%

Fund Documents

Fund Documents

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Publish Date:11/03/2015
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SAI
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Annual Report
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Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.      

                    

1

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

 

2

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

 

 

IMPORTANT INFORMATION

 

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

 

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

 

 

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

 

Class 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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