LHYRX | High Yield Fund Class R3 | Lord Abbett

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High Yield Fund

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Daily price w/o sales charge as of 09/28/2023

$6.05

$0.00

YTD Returns w/o sales charge as of 09/28/2023

3.14%

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

Average Yield to Maturity as of 08/31/2023

8.40%

30-Day Standardized Yield 1 as of 08/31/2023  

6.85%

Yield to maturity (YTM) represents the expected total return on a bond (expressed as an annualized rate) based on the bond’s expected future cash flows, including coupon payments over the life of the bond and the bond’s principal value received at maturity.

Fund Basicsas of 08/31/2023

Total Net Assets
$4.12 B
Inception Date
09/28/2007
Dividend Frequency
Monthly
Fund Gross Expense Ratio
1.20%
Fund Net Expense Ratio
1.20%
Number of Holdings
686

Fund Expense Ratio :

Gross 1.20%

Net 1.20%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 4.65% 3.75% 0.19% 1.33% 3.57% 5.35%
Lipper Category Avg. High Yield Funds 6.47% 6.26% 1.72% 2.78% 3.62% -
ICE BofA U.S. High Yield Constrained Index 7.29% 7.11% 1.90% 3.16% 4.39% 6.02%
w/ sales charge 4.65% 3.75% 0.19% 1.33% 3.57% 5.35%

Fund Expense Ratio :

Gross 1.20%

Net 1.20%

Fund Expense Ratio :

Gross 1.20%

Net 1.20%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 3.87% 5.96% 2.20% 1.58% 3.62% 5.36%
Lipper Category Avg. High Yield Funds 4.75% 8.01% 3.03% 2.77% 3.58% -
ICE BofA U.S. High Yield Constrained Index 5.45% 8.97% 3.23% 3.18% 4.34% 5.97%

Fund Expense Ratio :

Gross 1.20%

Net 1.20%

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

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

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

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

Maturity Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

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

Credit Quality Distribution as of 08/31/2023 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 & Co-Head of Taxable Fixed Income

22 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

32 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Partner, Deputy Director of Leveraged Credit

15 Years of Industry Experience

Karen J. Gunnerson
Karen J. Gunnerson

Portfolio Manager

13 Years of Industry Experience

Supported By 78 Investment Professionals with 17 Years Avg. Industry Experience

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Performance

Performance

Average Yield to Maturity as of 08/31/2023

8.40%

30-Day Standardized Yield 1 as of 08/31/2023  

  Subsidized2 Un-Subsidized3
w/o sales charge 6.85% 6.85%

Fund Expense Ratio :

Gross 1.20%

Net 1.20%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 4.65% 3.75% 0.19% 1.33% 3.57% 5.35%
Lipper Category Avg. High Yield Funds 6.47% 6.26% 1.72% 2.78% 3.62% -
ICE BofA U.S. High Yield Constrained Index 7.29% 7.11% 1.90% 3.16% 4.39% 6.02%
w/ sales charge 4.65% 3.75% 0.19% 1.33% 3.57% 5.35%

Fund Expense Ratio :

Gross 1.20%

Net 1.20%

Fund Expense Ratio :

Gross 1.20%

Net 1.20%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge 3.87% 5.96% 2.20% 1.58% 3.62% 5.36%
Lipper Category Avg. High Yield Funds 4.75% 8.01% 3.03% 2.77% 3.58% -
ICE BofA U.S. High Yield Constrained Index 5.45% 8.97% 3.23% 3.18% 4.34% 5.97%

Fund Expense Ratio :

Gross 1.20%

Net 1.20%

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

Year Fund Returns ICE BofA U.S. High Yield Constrained Index
2022 -14.04% -11.16%
2021 5.83% 5.35%
2020 4.19% 6.07%
2019 14.68% 14.41%
2018 -5.49% -2.27%
2017 8.17% 7.48%
2016 15.62% 17.49%
2015 -2.49% -4.61%
2014 3.18% 2.51%
2013 9.35% 7.41%
2012 16.12% -
2011 2.89% -
2010 13.96% -
2009 50.25% -
2008 -23.27% -
2007 1.67% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2023 2.77% 1.07% - - 3.14%
2022 -5.47% -10.86% -1.37% 3.42% -14.04%
2021 1.65% 3.02% 0.56% 0.49% 5.83%
2020 -16.75% 10.76% 5.58% 7.01% 4.19%
2019 7.39% 3.69% 0.21% 2.78% 14.68%
2018 -1.25% -0.10% 2.46% -6.49% -5.49%
2017 2.74% 1.77% 2.50% 0.93% 8.17%
2016 1.93% 5.42% 5.37% 2.11% 15.62%
2015 3.10% 0.66% -4.27% -1.86% -2.49%
2014 2.84% 3.30% -1.88% -1.01% 3.18%
2013 3.89% -0.97% 2.43% 3.77% 9.35%
2012 6.53% 0.30% 4.97% 3.53% 16.12%
2011 3.74% 1.00% -7.04% 5.64% 2.89%
2010 4.84% -0.98% 6.24% 3.32% 13.96%
2009 6.06% 17.31% 13.88% 6.04% 50.25%
2008 -3.46% 1.96% -7.56% -15.67% -23.27%
2007 2.93% 0.13% -0.15% -1.21% 1.67%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

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

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

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

Rating Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

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

Credit Quality Distribution as of 08/31/2023

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 06/30/2023

  • The Fund continued to be focused on higher carry, shorter duration securities. High yield spreads have grinding tighter throughout the first half of the year, finishing slightly above 400 bps in June. With declining recessionary concerns helping to compress spreads, our primary focus has shifted towards carry opportunities within the high yield universe. As primary markets have stabilized somewhat after a very slow 2022, we see the new issue high yield market as a strong source of carry. We added to the Fund’s Single-B credit exposure throughout the period, which we view as offering attractive yields to support this carry trade, and monetized positions in BBs as a source of funds that exhibited tight valuations. We also continue to prioritize sufficient liquidity given uncertainty with market reactions to Fed policy pause.
  • We see opportunity in the Leisure and Capital Goods sectors, while limiting exposure to the Media space. While Energy remains the Fund’s top overweight position, we continue to favor investments in the Leisure and Capital Goods sectors. In Leisure, resilient demand for summer travel, a strong film slate, and return to the box office continue to be reasons we see opportunities in the sector. In Capital Goods, the Fund covered underweights in areas like Aerospace/Defense and Packaging, while remaining overweight the Diversified Capital Goods and Machinery subsectors. The Fund maintained an underweight in sectors like media, where companies continued to struggle amid ongoing recessionary concerns. The Fund remains underweight the Media Content subsector, particularly as issuers reliant on advertising sales have been more sensitive to economic pullbacks. We expect these pressures to remain going forward.
  • The Fund increased its allocation to out-of-index sectors. We generally believe that select exposures to these sectors can offer attractive risk-reward opportunities, potential Fund diversification benefits and avenues for liquidity. The Fund increased modest allocations to common stock, convertible bonds, and bank loans throughout the quarter. Equity-exposure came off of recent lows, and allocations focused more broadly on growthier sectors of the market, which have exhibited the most resilient performance so far this year. While the Fund has the flexibility to toggle allocations to off-benchmark asset classes, we maintained the majority of exposure in traditional high yield corporate bonds.
  •  Looking forward, we believe that high yield bonds may provide an opportunity to capture high-quality carry and equity-like returns. High yield has performed well during the first half of 2023 as positive developments in macroeconomic data have broadly counteracted recession concerns. However, we continue to monitor for signs of rising credit stress given the surge in interest rates and tightening in credit lending over the last 12 months. As a reflection of this stance, we enter the back half of the year modestly underweight the lowest segment of CCC bonds in the high yield strategy. A growth slowdown and deterioration in credit metrics, particularly within CCCs, could potentially lead to the default rate climbing towards the long-term average above 3% in the second half of 2023 into 2024. However, it is important to consider that U.S. high yield issuers overall continue to boast much stronger balance sheets in aggregate than at the start of prior slowdowns, with leverage and interest rate coverage around their strongest levels since post-GFC. The high yield index also has maintained its higher quality tilt in recent months with approximately 50% comprised of BBs. Additionally, a starting YTW for the asset class north of 8% has historically translated into strong forward returns for investors. While there are many variables in every default cycle, we believe the high yield asset class can continue to be an attractive carry opportunity for investors, particularly if high yield spreads remain relatively range bound in the near term.

 

 

Portfolio Details as of 08/31/2023

Total Net Assets
$4.12 B
Average Effective Duration
3.65 Years
Average Maturity
5.3 Years
Number of Issues
686
Average Yield to Maturity
8.40%

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

Yield to maturity (YTM) represents the expected total return on a bond (expressed as an annualized rate) based on the bond’s expected future cash flows, including coupon payments over the life of the bond and the bond’s principal value received at maturity.

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
Ford Motor Credit Co LLC 2.900% 02/10/2029 0.7%
CCO Holdings LLC / CCO Holdings Capital Corp 4.750% 03/01/2030 0.7%
CCO Holdings LLC / CCO Holdings Capital Corp 5.000% 02/01/2028 0.7%
CCO Holdings LLC / CCO Holdings Capital Corp 4.500% 08/15/2030 0.6%
Altice France SA/France 5.125% 07/15/2029 0.6%
Ford Motor Credit Co LLC 4.000% 11/13/2030 0.5%
Cloud Software Group Inc 6.500% 03/31/2029 0.4%
Medline Borrower LP 3.875% 04/01/2029 0.4%
DaVita Inc 4.625% 06/01/2030 0.4%
Univision Communications Inc 7.375% 06/30/2030 0.4%
% of Total Assets 5.4%
Holding Coupon Maturity Assets
Ford Motor Credit Co LLC2.900% 02/10/20290.7%
CCO Holdings LLC / CCO Holdings Capital Corp5.000% 02/01/20280.7%
CCO Holdings LLC / CCO Holdings Capital Corp4.750% 03/01/20300.7%
CCO Holdings LLC / CCO Holdings Capital Corp4.500% 08/15/20300.6%
Altice France SA/France5.125% 07/15/20290.6%
Medline Borrower LP3.875% 04/01/20290.5%
Ford Motor Credit Co LLC4.000% 11/13/20300.5%
American Airlines Inc11.750% 07/15/20250.4%
Cloud Software Group Inc6.500% 03/31/20290.4%
Molina Healthcare Inc3.875% 11/15/20300.4%
Lamb Weston Holdings Inc4.125% 01/31/20300.4%
Univision Communications Inc7.375% 06/30/20300.4%
DaVita Inc4.625% 06/01/20300.4%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.250% 05/15/20270.4%
Vistra Operations Co LLC4.375% 05/01/20290.3%
Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl4.625% 06/01/20280.3%
Oceaneering International Inc6.000% 02/01/20280.3%
Gulfport Energy Corp8.000% 05/17/20260.3%
Atkore Inc4.250% 06/01/20310.3%
Crescent Energy Finance LLC7.250% 05/01/20260.3%
Virgin Media Secured Finance PLC5.500% 05/15/20290.3%
Matador Resources Co5.875% 09/15/20260.3%
Vermilion Energy Inc6.875% 05/01/20300.3%
Carnival Corp4.000% 08/01/20280.3%
Fortress Transportation and Infrastructure Investors LLC5.500% 05/01/20280.3%
Churchill Downs Inc4.750% 01/15/20280.3%
Bombardier Inc6.000% 02/15/20280.3%
MGM China Holdings Ltd5.875% 05/15/20260.3%
TALEN ENERGY CORP0.000% -0.3%
Hecla Mining Co7.250% 02/15/20280.3%
SunCoke Energy Inc4.875% 06/30/20290.3%
Air Canada3.875% 08/15/20260.3%
MEG Energy Corp5.875% 02/01/20290.3%
Earthstone Energy Holdings LLC8.000% 04/15/20270.3%
Vital Energy Inc10.125% 01/15/20280.3%
CDI Escrow Issuer Inc5.750% 04/01/20300.3%
FMG Resources August 2006 Pty Ltd6.125% 04/15/20320.3%
Baytex Energy Corp8.750% 04/01/20270.3%
Precision Drilling Corp6.875% 01/15/20290.3%
Allied Universal Holdco LLC / Allied Universal Finance Corp9.750% 07/15/20270.3%
DISH Network Corp11.750% 11/15/20270.3%
Perrigo Finance Unlimited Co4.650% 06/15/20300.3%
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp8.000% 04/01/20290.3%
Service Properties Trust7.500% 09/15/20250.3%
BEP Ulterra Holdings Inc10.669% 11/26/20250.3%
M/I Homes Inc4.950% 02/01/20280.3%
Carnival Corp5.750% 03/01/20270.3%
Cloud Software Group Inc9.000% 09/30/20290.3%
Genting New York LLC / GENNY Capital Inc3.300% 02/15/20260.3%
Callon Petroleum Co8.000% 08/01/20280.3%
CHS/Community Health Systems Inc5.250% 05/15/20300.3%
Frontier Communications Holdings LLC5.875% 10/15/20270.3%
Sealed Air Corp6.875% 07/15/20330.3%
Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp4.875% 05/01/20290.3%
Ford Motor Co3.250% 02/12/20320.3%
Berry Petroleum Co LLC7.000% 02/15/20260.3%
Loarre Investments Sarl6.500% 05/15/20290.3%
AG TTMT Escrow Issuer LLC8.625% 09/30/20270.3%
Coeur Mining Inc5.125% 02/15/20290.3%
ROBLOX Corp3.875% 05/01/20300.3%
PetSmart Inc / PetSmart Finance Corp4.750% 02/15/20280.3%
TransDigm Inc4.625% 01/15/20290.3%
Frontier Communications Holdings LLC6.000% 01/15/20300.3%
Catalent Pharma Solutions Inc3.500% 04/01/20300.3%
Taseko Mines Ltd7.000% 02/15/20260.3%
Viking Cruises Ltd9.125% 07/15/20310.3%
HealthEquity Inc4.500% 10/01/20290.3%
Ford Motor Credit Co LLC7.200% 06/10/20300.3%
Emerald Debt Merger Sub LLC6.625% 12/15/20300.3%
Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc4.125% 08/15/20260.3%
Viper Energy Partners LP5.375% 11/01/20270.3%
Triumph Group Inc9.000% 03/15/20280.3%
Rain CII Carbon LLC / CII Carbon Corp7.250% 04/01/20250.3%
PennyMac Financial Services Inc5.750% 09/15/20310.3%
Ingles Markets Inc4.000% 06/15/20310.3%
SPCM SA3.375% 03/15/20300.3%
Wynn Macau Ltd5.500% 10/01/20270.3%
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer6.750% 04/15/20280.3%
Rockcliff Energy II LLC5.500% 10/15/20290.3%
Builders FirstSource Inc6.375% 06/15/20320.2%
Tenet Healthcare Corp6.125% 10/01/20280.2%
Gray Escrow II Inc5.375% 11/15/20310.2%
Coronado Finance Pty Ltd10.750% 05/15/20260.2%
Synovus Financial Corp5.900% 02/07/20290.2%
Lindblad Expeditions LLC6.750% 02/15/20270.2%
Hawaiian Brand Intellectual Property Ltd / HawaiianMiles Loyalty Ltd5.750% 01/20/20260.2%
Option Care Health Inc4.375% 10/31/20290.2%
Resideo Funding Inc4.000% 09/01/20290.2%
TerraForm Power Operating LLC4.750% 01/15/20300.2%
Leeward Renewable Energy Operations LLC4.250% 07/01/20290.2%
Resorts World Las Vegas LLC / RWLV Capital Inc4.625% 04/06/20310.2%
Compass Minerals International Inc6.750% 12/01/20270.2%
Virgin Media Finance PLC5.000% 07/15/20300.2%
FMG Resources August 2006 Pty Ltd4.375% 04/01/20310.2%
VistaJet Malta Finance PLC / Vista Management Holding Inc7.875% 05/01/20270.2%
Entegris Inc3.625% 05/01/20290.2%
Carpenter Technology Corp7.625% 03/15/20300.2%
Permian Resources Operating LLC5.375% 01/15/20260.2%
Bath & Body Works Inc6.625% 10/01/20300.2%
Ashton Woods USA LLC / Ashton Woods Finance Co4.625% 04/01/20300.2%
DPL Inc4.350% 04/15/20290.2%
Acadia Healthcare Co Inc5.000% 04/15/20290.2%
Calpine Corp5.000% 02/01/20310.2%
Howard Hughes Corp/The5.375% 08/01/20280.2%
Chobani LLC / Chobani Finance Corp Inc4.625% 11/15/20280.2%
SM Energy Co6.625% 01/15/20270.2%
Civitas Resources Inc5.000% 10/15/20260.2%
Roller Bearing Co of America Inc4.375% 10/15/20290.2%
Nine Energy Service Inc13.000% 02/01/20280.2%
Gen Digital Inc7.125% 09/30/20300.2%
SeaWorld Parks & Entertainment Inc5.250% 08/15/20290.2%
NCL Corp Ltd5.875% 02/15/20270.2%
CHS/Community Health Systems Inc6.125% 04/01/20300.2%
IHO Verwaltungs GmbH8.750% 05/15/20280.2%
TransDigm Inc5.500% 11/15/20270.2%
Boyne USA Inc4.750% 05/15/20290.2%
Ford Motor Co6.100% 08/19/20320.2%
Griffon Corp5.750% 03/01/20280.2%
Aethon United BR LP / Aethon United Finance Corp8.250% 02/15/20260.2%
Transocean Inc6.800% 03/15/20380.2%
Azul Secured Finance LLP10.875% 05/28/20300.2%
Delek Logistics Partners LP / Delek Logistics Finance Corp7.125% 06/01/20280.2%
Mohegan Tribal Gaming Authority8.000% 02/01/20260.2%
Ardonagh Midco 2 PLC11.500% 01/15/20270.2%
AG Issuer LLC6.250% 03/01/20280.2%
Pattern Energy Operations LP / Pattern Energy Operations Inc4.500% 08/15/20280.2%
United States Steel Corp6.650% 06/01/20370.2%
Pike Corp5.500% 09/01/20280.2%
DT Midstream Inc4.125% 06/15/20290.2%
Pactiv Evergreen Group Issuer Inc/Pactiv Evergreen Group Issuer LLC4.000% 10/15/20270.2%
IRB Holding Corp8.419% 12/15/20270.2%
Altice France SA/France8.125% 02/01/20270.2%
Royal Caribbean Cruises Ltd4.250% 07/01/20260.2%
Carnival Holdings Bermuda Ltd10.375% 05/01/20280.2%
SPX FLOW Inc8.750% 04/01/20300.2%
BellRing Brands Inc7.000% 03/15/20300.2%
Murphy Oil Corp6.375% 07/15/20280.2%
AMC Entertainment Holdings Inc7.500% 02/15/20290.2%
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC6.000% 06/15/20270.2%
HAT Holdings I LLC / HAT Holdings II LLC3.750% 09/15/20300.2%
Avis Budget Car Rental LLC / Avis Budget Finance Inc4.750% 04/01/20280.2%
CrownRock LP / CrownRock Finance Inc5.000% 05/01/20290.2%
Service Logic Acquisition Inc9.433% 10/29/20270.2%
Legacy LifePoint Health LLC6.750% 04/15/20250.2%
Inter Media and Communication SpA6.750% 02/09/20270.2%
TransAlta Corp7.750% 11/15/20290.2%
Warrior Met Coal Inc7.875% 12/01/20280.2%
BK LC Lux Finco1 Sarl5.250% 04/30/20290.2%
Melco Resorts Finance Ltd5.375% 12/04/20290.2%
180 Medical Inc3.875% 10/15/20290.2%
United Airlines Inc4.625% 04/15/20290.2%
Allwyn Entertainment Financing UK PLC7.875% 04/30/20290.2%
Alta Equipment Group Inc5.625% 04/15/20260.2%
Popular Inc7.250% 03/13/20280.2%
LSB Industries Inc6.250% 10/15/20280.2%
American Airlines Inc/AAdvantage Loyalty IP Ltd5.750% 04/20/20290.2%
Arsenal AIC Parent LLC8.000% 10/01/20300.2%
Comstock Resources Inc5.875% 01/15/20300.2%
Goodyear Tire & Rubber Co/The5.000% 07/15/20290.2%
PG&E Corp5.000% 07/01/20280.2%
Chart Industries Inc7.500% 01/01/20300.2%
EQM Midstream Partners LP7.500% 06/01/20300.2%
Graphic Packaging International LLC3.500% 03/01/20290.2%
Port of Newcastle Investments Financing Pty Ltd5.900% 11/24/20310.2%
Wynn Resorts Finance LLC / Wynn Resorts Capital Corp7.125% 02/15/20310.2%
Stonegate Pub Co Financing 2019 PLC8.250% 07/31/20250.2%
CNX Resources Corp6.000% 01/15/20290.2%
Southwestern Energy Co8.375% 09/15/20280.2%
NESCO Holdings II Inc5.500% 04/15/20290.2%
Intesa Sanpaolo SpA4.198% 06/01/20320.2%
LABL Inc6.750% 07/15/20260.2%
Earthstone Energy Holdings LLC9.875% 07/15/20310.2%
Weatherford International Ltd8.625% 04/30/20300.2%
Gap Inc/The3.875% 10/01/20310.2%
Southwestern Energy Co5.375% 02/01/20290.2%
United Airlines Inc4.375% 04/15/20260.2%
CNX Midstream Partners LP4.750% 04/15/20300.2%
Capstone Borrower Inc8.000% 06/15/20300.2%
Post Holdings Inc4.500% 09/15/20310.2%
TransDigm Inc6.750% 08/15/20280.2%
Amsted Industries Inc4.625% 05/15/20300.2%
Alloy Finco Ltd0.500% 03/06/20250.2%
Evergreen Acqco 1 LP / TVI Inc9.750% 04/26/20280.2%
Holly Energy Partners LP / Holly Energy Finance Corp6.375% 04/15/20270.2%
Calderys Financing LLC11.250% 06/01/20280.2%
Tri Pointe Homes Inc5.250% 06/01/20270.2%
Spirit AeroSystems Inc9.375% 11/30/20290.2%
Petroleos Mexicanos10.000% 02/07/20330.2%
Hilcorp Energy I LP / Hilcorp Finance Co6.000% 02/01/20310.2%
Northriver Midstream Finance LP5.625% 02/15/20260.2%
Royal Caribbean Cruises Ltd8.250% 01/15/20290.2%
McAfee Corp7.375% 02/15/20300.2%
ATI Inc5.125% 10/01/20310.2%
Permian Resources Operating LLC6.875% 04/01/20270.2%
CSC Holdings LLC11.250% 05/15/20280.2%
Northwest Fiber LLC / Northwest Fiber Finance Sub Inc4.750% 04/30/20270.2%
VF Ukraine PAT via VFU Funding PLC6.200% 02/11/20250.2%
CHS/Community Health Systems Inc4.750% 02/15/20310.2%
NCL Corp Ltd5.875% 03/15/20260.2%
Owens-Brockway Glass Container Inc6.625% 05/13/20270.2%
TreeHouse Foods Inc4.000% 09/01/20280.2%
USA Compression Partners LP / USA Compression Finance Corp6.875% 09/01/20270.2%
Jefferson Capital Holdings LLC6.000% 08/15/20260.2%
Texas Capital Bancshares Inc4.000% 05/06/20310.2%
Encino Acquisition Partners Holdings LLC8.500% 05/01/20280.2%
TerraForm Power Operating LLC5.000% 01/31/20280.2%
Life Time Inc5.750% 01/15/20260.2%
Asbury Automotive Group Inc5.000% 02/15/20320.2%
Bloomin' Brands Inc / OSI Restaurant Partners LLC5.125% 04/15/20290.2%
Madison IAQ LLC5.875% 06/30/20290.2%
Grinding Media Inc9.242% 10/12/20280.2%
VOC Escrow Ltd5.000% 02/15/20280.2%
Valvoline Inc3.625% 06/15/20310.2%
JELD-WEN Inc4.875% 12/15/20270.2%
CVR Partners LP / CVR Nitrogen Finance Corp6.125% 06/15/20280.2%
Smyrna Ready Mix Concrete LLC6.000% 11/01/20280.2%
Advanced Drainage Systems Inc6.375% 06/15/20300.2%
Antero Midstream Partners LP / Antero Midstream Finance Corp5.375% 06/15/20290.2%
Vista Outdoor Inc4.500% 03/15/20290.2%
Wyndham Hotels & Resorts Inc4.375% 08/15/20280.2%
Compass Power Generation LLC9.683% 04/14/20290.2%
Range Resources Corp4.750% 02/15/20300.2%
Buckeye Partners LP4.125% 12/01/20270.2%
Iliad Holding SASU7.000% 10/15/20280.2%
Punch Finance PLC6.125% 06/30/20260.2%
US 5YR NOTE (CBT) Sep230.000% 10/04/20230.2%
Organon & Co / Organon Foreign Debt Co-Issuer BV5.125% 04/30/20310.2%
Patterson-UTI Energy Inc3.950% 02/01/20280.2%
Valaris Ltd8.375% 04/30/20300.2%
EquipmentShare.com Inc9.000% 05/15/20280.2%
Empire Resorts Inc7.750% 11/01/20260.2%
Mineral Resources Ltd8.500% 05/01/20300.2%
Vital Energy Inc7.750% 07/31/20290.2%
PetSmart Inc / PetSmart Finance Corp7.750% 02/15/20290.2%
Q-Park Holding I BV2.000% 03/01/20270.2%
APi Group DE Inc4.750% 10/15/20290.2%
Kosmos Energy Ltd7.500% 03/01/20280.2%
PARKWAY GENERATION LLC10.275% 02/18/20290.2%
Caesars Entertainment Inc7.000% 02/15/20300.2%
Eco Material Technologies Inc7.875% 01/31/20270.2%
Adient Global Holdings Ltd8.250% 04/15/20310.2%
Terex Corp5.000% 05/15/20290.2%
AthenaHealth Group Inc6.500% 02/15/20300.2%
Navient Corp4.875% 03/15/20280.2%
Picard Bondco SA5.375% 07/01/20270.2%
H&E Equipment Services Inc3.875% 12/15/20280.2%
Full House Resorts Inc8.250% 02/15/20280.2%
United Rentals North America Inc3.875% 02/15/20310.2%
Charles River Laboratories International Inc4.000% 03/15/20310.2%
Jaguar Land Rover Automotive PLC4.500% 10/01/20270.2%
Adient Global Holdings Ltd7.000% 04/15/20280.2%
Dycom Industries Inc4.500% 04/15/20290.2%
White Cap Buyer LLC6.875% 10/15/20280.2%
Synaptics Inc4.000% 06/15/20290.2%
GrafTech Global Enterprises Inc9.875% 12/15/20280.2%
GIBSON BRANDS PRIVATE EQUITY0.000% -0.2%
Great Lakes Dredge & Dock Corp5.250% 06/01/20290.2%
Verra Mobility Corp0.000% -0.2%
CSC Holdings LLC4.125% 12/01/20300.2%
CNX Resources Corp7.375% 01/15/20310.2%
ATS Corp4.125% 12/15/20280.2%
Kinetik Holdings LP5.875% 06/15/20300.2%
Garda World Security Corp7.750% 02/15/20280.2%
Brand Industrial Services Inc10.375% 08/01/20300.2%
Oscar AcquisitionCo LLC / Oscar Finance Inc9.500% 04/15/20300.2%
Chord Energy Corp6.375% 06/01/20260.2%
VZ Secured Financing BV5.000% 01/15/20320.2%
Jacobs Entertainment Inc6.750% 02/15/20290.2%
Southern Copper Corp0.000% -0.2%
Forestar Group Inc3.850% 05/15/20260.2%
US Acute Care Solutions LLC6.375% 03/01/20260.2%
Metis Merger Sub LLC6.500% 05/15/20290.2%
Minerals Technologies Inc5.000% 07/01/20280.2%
HubSpot Inc0.375% 06/01/20250.2%
Arcosa Inc4.375% 04/15/20290.2%
Badger Meter Inc0.000% -0.2%
Twilio Inc3.625% 03/15/20290.2%
CSC Holdings LLC6.500% 02/01/20290.2%
Hunt Cos Inc5.250% 04/15/20290.2%
Alteryx Inc8.750% 03/15/20280.2%
APi Group DE Inc4.125% 07/15/20290.2%
Novelis Corp3.875% 08/15/20310.2%
Shake Shack Inc0.000% -0.2%
Lumen Technologies Inc4.000% 02/15/20270.2%
TK Elevator US Newco Inc5.250% 07/15/20270.2%
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC3.500% 03/15/20290.1%
Benteler International AG10.500% 05/15/20280.1%
Ingevity Corp3.875% 11/01/20280.1%
Helix Gen Funding LLC10.061% 12/03/20270.1%
Freedom Mortgage Corp8.250% 04/15/20250.1%
Allison Transmission Inc3.750% 01/30/20310.1%
AA Bond Co Ltd6.500% 01/31/20260.1%
Elastic NV4.125% 07/15/20290.1%
Open Text Corp8.919% 01/31/20300.1%
Belo Corp7.250% 09/15/20270.1%
Welltec International ApS8.250% 10/15/20260.1%
RHP Hotel Properties LP / RHP Finance Corp7.250% 07/15/20280.1%
US Foods Inc4.625% 06/01/20300.1%
Weekley Homes LLC / Weekley Finance Corp4.875% 09/15/20280.1%
Ascent Resources Utica Holdings LLC / ARU Finance Corp5.875% 06/30/20290.1%
PRA Group Inc8.375% 02/01/20280.1%
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer4.875% 05/15/20290.1%
Engineered Components & Systems LLC11.369% 08/02/20280.1%
International Game Technology PLC5.250% 01/15/20290.1%
Douglas GmbH6.000% 04/08/20260.1%
Bellis Finco PLC4.000% 02/16/20270.1%
First Quantum Minerals Ltd8.625% 06/01/20310.1%
Texas Capital Bank NA5.250% 01/31/20260.1%
New Enterprise Stone & Lime Co Inc9.750% 07/15/20280.1%
Commercial Metals Co4.125% 01/15/20300.1%
Madison IAQ LLC8.302% 06/21/20280.1%
Range Resources Corp8.250% 01/15/20290.1%
Cava Group Inc0.000% -0.1%
Century Communities Inc3.875% 08/15/20290.1%
Jones Deslauriers Insurance Management Inc8.500% 03/15/20300.1%
New York Community Bancorp Inc0.000% -0.1%
Vistra Corp7.000% 06/15/21720.1%
YPF Energia Electrica SA10.000% 07/25/20260.1%
Kernel Holding SA6.500% 10/17/20240.1%
Caesars Entertainment Inc4.625% 10/15/20290.1%
Standard Industries Inc/NJ3.375% 01/15/20310.1%
Watco Cos LLC / Watco Finance Corp6.500% 06/15/20270.1%
TK Elevator Midco GmbH4.375% 07/15/20270.1%
ACBL HLDG CORP0.000% -0.1%
CPV Shore Holdings LLC9.183% 12/29/20250.1%
Civitas Resources Inc8.750% 07/01/20310.1%
Royal Caribbean Cruises Ltd11.625% 08/15/20270.1%
Hess Midstream Operations LP5.125% 06/15/20280.1%
Allegiant Travel Co7.250% 08/15/20270.1%
Rand Parent LLC8.500% 02/15/20300.1%
Civitas Resources Inc8.375% 07/01/20280.1%
ASP Unifrax Holdings Inc5.250% 09/30/20280.1%
SEG Holding LLC / SEG Finance Corp5.625% 10/15/20280.1%
Noble Finance II LLC8.000% 04/15/20300.1%
Comstock Resources Inc6.750% 03/01/20290.1%
MIWD Holdco II LLC / MIWD Finance Corp5.500% 02/01/20300.1%
MHP Lux SA6.250% 09/19/20290.1%
ON Semiconductor Corp3.875% 09/01/20280.1%
Husky III Holding Ltd13.000% 02/15/20250.1%
PGT Innovations Inc4.375% 10/01/20290.1%
Stena International SA7.250% 02/15/20280.1%
Talen Energy Supply LLC8.625% 06/01/20300.1%
GYP Holdings III Corp4.625% 05/01/20290.1%
Mineral Resources Ltd8.000% 11/01/20270.1%
Armor Holdco Inc8.500% 11/15/20290.1%
UPC Broadband Finco BV4.875% 07/15/20310.1%
Travel + Leisure Co6.625% 07/31/20260.1%
Global Atlantic Fin Co4.700% 10/15/20510.1%
RegionalCare Hospital Partners Holdings Inc / LifePoint Health Inc9.750% 12/01/20260.1%
Dornoch Debt Merger Sub Inc6.625% 10/15/20290.1%
Topgolf Callaway Brands Corp8.919% 03/15/20300.1%
Pampa Energia SA7.500% 01/24/20270.1%
Calpine Corp4.625% 02/01/20290.1%
Royal Caribbean Cruises Ltd9.250% 01/15/20290.1%
Tenet Healthcare Corp6.750% 05/15/20310.1%
Carriage Purchaser Inc7.875% 10/15/20290.1%
Tank Holding Corp11.169% 03/31/20280.1%
Dufry One BV3.375% 04/15/20280.1%
Seaspan Corp5.500% 08/01/20290.1%
Transocean Inc7.500% 04/15/20310.1%
EFS Cogen Holdings I LLC9.010% 10/01/20270.1%
Windsor Holdings III LLC8.500% 06/15/20300.1%
Callon Petroleum Co7.500% 06/15/20300.1%
Grifols SA4.750% 10/15/20280.1%
Albion Financing 2SARL8.750% 04/15/20270.1%
Nordstrom Inc4.375% 04/01/20300.1%
Presidio Holdings Inc8.250% 02/01/20280.1%
Sri Lanka Government International Bond5.875% 07/25/20220.1%
Buckeye Partners LP9.627% 01/22/20780.1%
Azul Secured Finance LLP11.930% 08/28/20280.1%
Frontier Communications Holdings LLC8.750% 05/15/20300.1%
Venture Global LNG Inc8.375% 06/01/20310.1%
Boise Cascade Co4.875% 07/01/20300.1%
Kontoor Brands Inc4.125% 11/15/20290.1%
Macy's Retail Holdings LLC5.875% 04/01/20290.1%
Golden Goose SpA/Milano8.198% 05/14/20270.1%
Summit Materials LLC / Summit Materials Finance Corp5.250% 01/15/20290.1%
Victors Merger Corp6.375% 05/15/20290.1%
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer6.750% 10/15/20270.1%
Enerflex Ltd9.000% 10/15/20270.1%
Cinemark USA Inc5.875% 03/15/20260.1%
MGM Resorts International4.750% 10/15/20280.1%
Finnair Oyj4.250% 05/19/20250.1%
Chesapeake Energy Corp6.750% 04/15/20290.1%
Mauser Packaging Solutions Holding Co9.250% 04/15/20270.1%
Northwest Fiber LLC / Northwest Fiber Finance Sub Inc10.750% 06/01/20280.1%
Juventus Football Club SpA3.375% 02/19/20240.1%
Atlantica Sustainable Infrastructure PLC4.125% 06/15/20280.1%
Baytex Energy Corp8.500% 04/30/20300.1%
Benteler International AG9.375% 05/15/20280.1%
ModivCare Escrow Issuer Inc5.000% 10/01/20290.1%
OneMain Finance Corp4.000% 09/15/20300.1%
Coty Inc/HFC Prestige Products Inc/HFC Prestige International US LLC4.750% 01/15/20290.1%
LSF11 A5 HoldCo LLC6.625% 10/15/20290.1%
Trivium Packaging Finance BV7.073% 08/15/20260.1%
Arko Corp5.125% 11/15/20290.1%
LBM Acquisition LLC6.250% 01/15/20290.1%
Stena International SA7.250% 02/15/20280.1%
XPO Escrow Sub LLC7.500% 11/15/20270.1%
Ritchie Bros Holdings Inc7.750% 03/15/20310.1%
BWX Technologies Inc4.125% 04/15/20290.1%
Crowdstrike Holdings Inc3.000% 02/15/20290.1%
Lam Research Corp0.000% -0.1%
Legends Hospitality Holding Co LLC / Legends Hospitality Co-Issuer Inc5.000% 02/01/20260.1%
PBF Holding Co LLC / PBF Finance Corp6.000% 02/15/20280.1%
Post Holdings Inc4.625% 04/15/20300.1%
Fluor Corp4.250% 09/15/20280.1%
American Axle & Manufacturing Inc5.000% 10/01/20290.1%
Carnival Corp9.875% 08/01/20270.1%
AMN Healthcare Inc4.000% 04/15/20290.1%
Aston Martin Capital Holdings Ltd10.500% 11/30/20250.1%
Elanco Animal Health Inc6.650% 08/28/20280.1%
Mueller Water Products Inc4.000% 06/15/20290.1%
CSI Compressco LP / CSI Compressco Finance Inc7.500% 04/01/20250.1%
Darling Ingredients Inc6.000% 06/15/20300.1%
Jones Deslauriers Insurance Management Inc10.500% 12/15/20300.1%
LABL Inc9.500% 11/01/20280.1%
LCM Investments Holdings II LLC8.250% 08/01/20310.1%
GPS Hospitality Holding Co LLC / GPS Finco Inc7.000% 08/15/20280.1%
Trivium Packaging Finance BV8.500% 08/15/20270.1%
Navient Corp5.500% 03/15/20290.1%
Ahlstrom Holding 3 Oy4.875% 02/04/20280.1%
Vipshop Holdings Ltd0.000% -0.1%
Bristow Group Inc6.875% 03/01/20280.1%
Rocket Software Inc6.500% 02/15/20290.1%
Pactiv Evergreen Group Holdings Inc8.683% 09/24/20280.1%
Crescent Energy Finance LLC9.250% 02/15/20280.1%
Park-Ohio Industries Inc6.625% 04/15/20270.1%
Penn Entertainment Inc4.125% 07/01/20290.1%
Studio City Co Ltd7.000% 02/15/20270.1%
Rivian Automotive Inc4.625% 03/15/20290.1%
Northwest Fiber LLC / Northwest Fiber Finance Sub Inc6.000% 02/15/20280.1%
Seagate HDD Cayman8.500% 07/15/20310.1%
Castlelake Aviation One DAC8.004% 10/22/20270.1%
Moog Inc4.250% 12/15/20270.1%
United States Steel Corp6.875% 03/01/20290.1%
Transocean Inc7.500% 01/15/20260.1%
Enviri Corp5.750% 07/31/20270.1%
Oceaneering International Inc0.000% -0.1%
City Football Group Ltd8.406% 07/21/20280.1%
Hughes Satellite Systems Corp6.625% 08/01/20260.1%
SRS Distribution Inc4.625% 07/01/20280.1%
Williams Scotsman International Inc4.625% 08/15/20280.1%
Limak Iskenderun Uluslararasi Liman Isletmeciligi AS9.500% 07/10/20360.1%
Datadog Inc0.125% 06/15/20250.1%
Synchrony Financial7.250% 02/02/20330.1%
eDreams ODIGEO SA5.500% 07/15/20270.1%
CQP Holdco LP / BIP-V Chinook Holdco LLC5.500% 06/15/20310.1%
SRS Distribution Inc6.000% 12/01/20290.1%
Sotheby's7.375% 10/15/20270.1%
Tenet Healthcare Corp4.375% 01/15/20300.1%
LCM Investments Holdings II LLC4.875% 05/01/20290.1%
BCPE Empire Holdings Inc7.625% 05/01/20270.1%
Trivium Packaging Finance BV5.500% 08/15/20260.1%
Shopify Inc0.000% -0.1%
Beacon Roofing Supply Inc4.125% 05/15/20290.1%
Super Micro Computer Inc0.000% -0.1%
Teladoc Health Inc0.000% -0.1%
Nouryon USA LLC9.347% 04/03/20280.1%
IMA Industria Macchine Automatiche SpA3.750% 01/15/20280.1%
USIC Holdings Inc11.933% 05/14/20290.1%
Jazz Securities DAC4.375% 01/15/20290.1%
Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc5.250% 08/15/20270.1%
MercadoLibre Inc2.375% 01/14/20260.1%
AI Candelaria Spain SA7.500% 12/15/20280.1%
Imola Merger Corp4.750% 05/15/20290.1%
Wabash National Corp4.500% 10/15/20280.1%
SCIH Salt Holdings Inc6.625% 05/01/20290.1%
ArcelorMittal SA6.800% 11/29/20320.1%
McGraw-Hill Education Inc5.750% 08/01/20280.1%
SCIH Salt Holdings Inc4.875% 05/01/20280.1%
Helen of Troy Ltd0.000% -0.1%
Hilton Domestic Operating Co Inc3.750% 05/01/20290.1%
Mersin Uluslararasi Liman Isletmeciligi AS5.375% 11/15/20240.1%
MongoDB Inc0.250% 01/15/20260.1%
NMG Holding Co Inc / Neiman Marcus Group LLC7.125% 04/01/20260.1%
Carrols Restaurant Group Inc5.875% 07/01/20290.1%
Uber Technologies Inc7.988% 03/03/20300.1%
Mauser Packaging Solutions Holding Co9.141% 08/14/20260.1%
Motion Bondco DAC6.625% 11/15/20270.1%
PBF Holding Co LLC / PBF Finance Corp7.250% 06/15/20250.1%
Seadrill Finance Ltd8.375% 08/01/20300.1%
Synopsys Inc0.000% -0.1%
Exact Sciences Corp2.000% 03/01/20300.1%
Lattice Semiconductor Corp0.000% -0.1%
NextEra Energy Operating Partners LP4.500% 09/15/20270.1%
Block Inc0.000% -0.1%
PGT Innovations Inc0.000% -0.1%
Fair Isaac Corp4.000% 06/15/20280.1%
EnerSys4.375% 12/15/20270.1%
Matterhorn Telecom SA4.000% 11/15/20270.1%
Nexstar Media Inc4.750% 11/01/20280.1%
Spotify Technology SA0.000% -0.1%
Canacol Energy Ltd5.750% 11/24/20280.1%
Science Applications International Corp4.875% 04/01/20280.1%
Navient Corp9.375% 07/25/20300.1%
Beacon Roofing Supply Inc0.000% -0.1%
Remitly Global Inc0.000% -0.1%
Organon & Co / Organon Foreign Debt Co-Issuer BV4.125% 04/30/20280.1%
Duolingo Inc0.000% -0.1%
Trident TPI Holdings Inc12.750% 12/31/20280.1%
Trex Co Inc0.000% -0.1%
Delta Air Lines Inc / SkyMiles IP Ltd4.750% 10/20/20280.1%
OneMain Finance Corp9.000% 01/15/20290.1%
Calpine Corp3.750% 03/01/20310.1%
Clean Harbors Inc6.375% 02/01/20310.1%
CHS/Community Health Systems Inc6.875% 04/15/20290.1%
Aegea Finance Sarl6.750% 05/20/20290.1%
Hudbay Minerals Inc6.125% 04/01/20290.1%
Legend Biotech Corp0.000% -0.1%
Live Nation Entertainment Inc4.750% 10/15/20270.1%
Station Casinos LLC4.625% 12/01/20310.1%
Pilgrim's Pride Corp4.250% 04/15/20310.1%
Ctec II GmbH5.250% 02/15/20300.1%
Carnival Corp8.683% 10/18/20280.1%
SCIL IV LLC / SCIL USA Holdings LLC5.375% 11/01/20260.1%
PeopleCert Wisdom Issuer PLC5.750% 09/15/20260.1%
Bright Horizons Family Solutions Inc0.000% -0.1%
Hudbay Minerals Inc4.500% 04/01/20260.1%
Midcap Financial Issuer Trust6.500% 05/01/20280.1%
Crane Co0.000% -0.1%
Olin Corp5.000% 02/01/20300.1%
Rolls-Royce PLC5.750% 10/15/20270.1%
Go Daddy Operating Co LLC / GD Finance Co Inc3.500% 03/01/20290.1%
Frontier Communications Holdings LLC9.183% 05/01/20280.1%
Seagate HDD Cayman8.250% 12/15/20290.1%
Real Hero Merger Sub 2 Inc6.250% 02/01/20290.1%
Glaukos Corp0.000% -0.1%
ANSYS Inc0.000% -0.1%
Gulfport Energy Corp0.000% -0.1%
Caesars Entertainment Inc0.000% -0.1%
MC Brazil Downstream Trading SARL7.250% 06/30/20310.1%
Marriott Ownership Resorts Inc4.500% 06/15/20290.1%
Jane Street Group / JSG Finance Inc4.500% 11/15/20290.1%
Performance Food Group Inc4.250% 08/01/20290.1%
Spirit AeroSystems Inc4.600% 06/15/20280.1%
Builders FirstSource Inc4.250% 02/01/20320.1%
SK Invictus Intermediate II Sarl5.000% 10/30/20290.1%
Manitowoc Co Inc/The9.000% 04/01/20260.1%
Hubbell Inc0.000% -0.1%
Amynta Agency Borrower Inc10.419% 02/28/20280.1%
Methanex Corp5.250% 12/15/20290.1%
GS Mortgage Securities Corp Trust 2021-ROSS MZ14.836% 06/15/20260.1%
Valvoline Inc0.000% -0.1%
California Resources Corp7.125% 02/01/20260.1%
Endeavor Energy Resources LP / EER Finance Inc5.750% 01/30/20280.1%
Central American Bottling Corp / CBC Bottling Holdco SL / Beliv Holdco SL5.250% 04/27/20290.1%
EnLink Midstream LLC6.500% 09/01/20300.1%
Clarios Global LP / Clarios US Finance Co6.750% 05/15/20280.1%
Clarivate Science Holdings Corp4.875% 07/01/20290.1%
Royal Caribbean Cruises Ltd7.250% 01/15/20300.1%
Service Properties Trust5.250% 02/15/20260.1%
Tronox Inc4.625% 03/15/20290.1%
Venture Global Calcasieu Pass LLC4.125% 08/15/20310.1%
Directv Financing LLC / Directv Financing Co-Obligor Inc5.875% 08/15/20270.1%
Axalta Coating Systems LLC3.375% 02/15/20290.1%
Dave & Buster's Inc9.188% 06/29/20290.1%
Sealed Air Corp/Sealed Air Corp US6.125% 02/01/20280.1%
LABL Inc10.500% 07/15/20270.1%
Permian Resources Operating LLC5.875% 07/01/20290.1%
Howmet Aerospace Inc3.000% 01/15/20290.1%
Motion Finco Sarl7.375% 06/15/20300.1%
ZF North America Capital Inc6.875% 04/14/20280.1%
Carnival Corp10.500% 06/01/20300.1%
American Airlines Inc7.250% 02/15/20280.1%
Hilton Domestic Operating Co Inc4.875% 01/15/20300.1%
Talen Energy Corp0.000% -0.1%
Venture Global Calcasieu Pass LLC3.875% 08/15/20290.1%
Fortrea Holdings Inc7.500% 07/01/20300.1%
Murphy Oil USA Inc3.750% 02/15/20310.1%
UTEX INDUSTRIES0.000% -0.1%
ZF North America Capital Inc7.125% 04/14/20300.1%
Select Medical Corp6.250% 08/15/20260.1%
Carnival Corp6.000% 05/01/20290.1%
Credit Index Swap5.000% 06/20/20280.1%
DISH DBS Corp5.875% 11/15/20240.1%
Iceland Bondco PLC10.875% 12/15/20270.1%
Sealed Air Corp5.000% 04/15/20290.1%
Air Baltic Corp AS6.750% 07/30/20240.1%
Lumen Technologies Inc7.683% 03/15/20270.1%
CLAIRES HOLDINGS0.000% -0.1%
NCL Corp Ltd8.375% 02/01/20280.1%
PTC Inc4.000% 02/15/20280.1%
Venture Global LNG Inc8.125% 06/01/20280.1%
Ford Motor Credit Co LLC7.350% 11/04/20270.1%
Matador Resources Co6.875% 04/15/20280.1%
Akbank TAS5.125% 03/31/20250.1%
Callon Petroleum Co6.375% 07/01/20260.1%
Post Holdings Inc5.500% 12/15/20290.1%
Herc Holdings Inc5.500% 07/15/20270.1%
HAT Holdings I LLC / HAT Holdings II LLC3.375% 06/15/20260.1%
New York Community Bancorp Inc5.900% 11/06/20280.1%
BCP V Modular Services Finance II PLC4.750% 11/30/20280.1%
MGM Resorts International4.625% 09/01/20260.1%
Gray Television Inc7.000% 05/15/20270.1%
Kernel Holding SA6.750% 10/27/20270.1%
Live Nation Entertainment Inc3.750% 01/15/20280.1%
Park River Holdings Inc6.750% 08/01/20290.1%
Beacon Roofing Supply Inc6.500% 08/01/20300.1%
Park River Holdings Inc5.625% 02/01/20290.1%
IHO Verwaltungs GmbH8.750% 05/15/20280.0%
Shimao Group Holdings Ltd5.200% 01/16/20270.0%
UC HOLDINGS INC.0.000% -0.0%
EQM Midstream Partners LP4.750% 01/15/20310.0%
NSG Holdings LLC / NSG Holdings Inc7.750% 12/15/20250.0%
VUE INTERNATIONAL BIDCO P L C4.859% 12/31/20270.0%
Chart Industries Inc9.500% 01/01/20310.0%
Elwood Energy LLC8.159% 07/05/20260.0%
SierraCol Energy Andina LLC6.000% 06/15/20280.0%
TEGNA Inc5.000% 09/15/20290.0%
ACBL HLDG CORP0.000% -0.0%
New Frontera Holdings LLC18.538% 07/28/20260.0%
Sunac China Holdings Ltd5.950% 04/26/20240.0%
Country Garden Holdings Co Ltd3.125% 10/22/20250.0%
ACBL HLDG CORP0.000% -0.0%
Logan Group Co Ltd4.500% 01/13/20280.0%
PARKWAY GENERATION LLC10.275% 02/18/20290.0%
Scripps Escrow II Inc5.375% 01/15/20310.0%
Sunac China Holdings Ltd6.500% 01/10/20250.0%
Logan Group Co Ltd5.250% 02/23/20230.0%
ESC 144A HERTZ CORP0.000% 01/15/20280.0%
New Frontera Holdings LLC7.038% 07/28/20280.0%
VUE INTERNATIONAL BIDCO P L C11.086% 06/30/20270.0%
CHINOS INTERMEDIATE 2 LLC0.000% -0.0%
CHINOS INTERMEDIATE 2 LLC0.000% -0.0%
TNT CRANE AND RIGGING0.000% -0.0%
FX GBP/USD 09/230.000% 09/08/20230.0%
Shimao Group Holdings Ltd3.450% 01/11/20310.0%
FGI Operating Co LLC0.000% 05/16/20240.0%
FX GBP/USD 09/230.000% 09/08/20230.0%
FX EUR/USD 09/230.000% 09/13/20230.0%
FX USD/GBP 09/230.000% 09/08/20230.0%
FX EUR/USD 09/230.000% 09/13/20230.0%
FX EUR/USD 09/230.000% 09/13/20230.0%
FX GBP/USD 09/230.000% 09/08/20230.0%
FX GBP/USD 09/230.000% 09/08/20230.0%
FX EUR/USD 09/230.000% 09/13/20230.0%
FX EUR/USD 09/230.000% 09/13/20230.0%
FX EUR/USD 09/230.000% 09/13/20230.0%
FX EUR/USD 09/230.000% 09/13/20230.0%
TNT CRANE AND RIGGING0.000% -0.0%
FX GBP/USD 09/230.000% 09/08/20230.0%
FX USD/EUR 09/230.000% 09/13/20230.0%
FRONTERA GENERATION0.000% -0.0%
EURO-BUND FUTURE Sep230.000% 09/11/20230.0%
MIRABELA NICKEL LTD.1.000% 09/16/20440.0%
FX USD/EUR 09/230.000% 09/13/20230.0%
FX GBP/USD 09/230.000% 09/08/20230.0%
REVLON ROLL UP0.000% -0.0%
PERSIMMON MIDCO LLC0.000% -0.0%
Tonon Luxembourg SA6.500% 10/31/20240.0%
Washington Mutual Bank / Debt not acquired by JPMorgan6.875% 06/15/20110.0%
FX USD/EUR 09/230.000% 09/13/20230.0%
FX USD/EUR 09/230.000% 09/13/20230.0%
FX GBP/USD 09/230.000% 09/08/20230.0%
FX GBP/USD 09/230.000% 09/08/20230.0%
FX EUR/USD 09/230.000% 09/13/20230.0%
FX EUR/USD 09/230.000% 09/13/20230.0%
FX EUR/USD 09/230.000% 09/13/20230.0%
FX EUR/USD 09/230.000% 09/13/20230.0%
FX GBP/USD 09/230.000% 09/08/20230.0%
FX GBP/USD 09/230.000% 09/08/20230.0%
FX USD/EUR 09/230.000% 09/13/20230.0%
FX USD/EUR 09/230.000% 09/13/20230.0%
US LONG BOND(CBT) Sep230.000% 09/29/20230.0%
US 2YR NOTE (CBT) Sep230.000% 10/04/20230.0%
US ULTRA BOND CBT Sep230.000% 09/29/20230.0%
FX USD/GBP 09/230.000% 09/08/20230.0%
FX USD/EUR 09/230.000% 09/13/2023-0.1%
US 10YR NOTE (CBT)Sep230.000% 09/29/2023-0.1%

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

Sector Allocationas of 08/31/2023

Sector Weighting Fund Change from Previous Quarter
Sector Weighting Fund Change from Previous Quarter
Energy arrowUp1.7%
Automotive arrowUp0.8%
Government 0.0%
Mortgage Securities arrowDown0.1%
Retail arrowDown0.6%
Consumer Goods arrowDown0.5%
Insurance 0.0%
Technology & Electronics arrowDown0.3%
Services arrowUp0.1%
Telecommunications arrowDown0.1%
Financial Services arrowUp0.8%
Basic Industry arrowUp2.2%
Real Estate arrowUp0.1%
Healthcare arrowDown2.7%
Media arrowUp0.7%
Leisure arrowDown0.5%
Capital Goods arrowDown0.8%
Transportation arrowDown0.7%
Utility arrowDown0.3%
Banking arrowUp0.2%
Consumer, Non-Cyclical 0.0%
Other 0.0%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 09/28/2023
$0.25220
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 08/31/2023 $0.03365 $6.17
Daily Daily 07/31/2023 $0.03261 $6.23
Daily Daily 06/30/2023 $0.03223 $6.19
Daily Daily 05/31/2023 $0.03216 $6.13
Daily Daily 04/30/2023 $0.03186 $6.24
Daily Daily 03/31/2023 $0.02971 $6.22
Daily Daily 02/28/2023 $0.03108 $6.17
Daily Daily 01/31/2023 $0.02892 $6.31

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 09/30/2023
Daily Daily 10/31/2023
Daily Daily 11/30/2023
Daily Daily 12/31/2023

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/16/2021 12/17/2021 - $0.0100 $0.0100 $7.49
*

Taxed as ordinary income

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

Fees & Expenses

Fees & Expenses

Expense Ratioas of 08/31/2023

Fund Gross Expense Ratio Fund Net Expense Ratio
1.20% 1.20%

Fund Documents

Fund Documents

0Documents selected
Portfolio Holdings 1Q
Publish Date:11/03/2015
Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
Statutory Prospectus
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015

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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

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.

 

2

The 30-day Standardized Subsidized yields reflect fee waivers in effect. Without such fee waivers, yields would be reduced.  

 

3

The 30-day Standardized Unsubsidized yield does not reflect fee waivers.

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

 

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

 

 

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

 

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

 

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

 

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

 

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

 

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

Source: ICE Data Indices, LLC. 

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

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

 

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

 

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

 

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

 

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

 

 

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

 

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

 

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

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

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