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High Yield Municipal Bond Fund

Daily price w/o sales charge as of 09/18/2018

$11.94

arrowDown$0.03

YTD Returns w/o sales charge as of 09/18/2018

3.71%

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 Municipal Bond Fund?

The Fund seeks to deliver a high level of income exempt from federal income tax by investing primarily in lower-rated municipal bonds.

Yields

Dividend Yield 1 as of 09/18/2018  

w/o sales charge 3.25%

30 Day Standardized yield 2 as of 08/31/2018  

2.67%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Fund Basicsas of 08/31/2018

Total Net Assets
$2.18 B
Inception Date
12/30/2004
Dividend Frequency
Monthly
Fund Gross Expense Ratio
1.43%
Fund Net Expense Ratio
1.42%
Number of Holdings
537
CUSIP
543912851
Minimum Initial Investment
$1,000+

Fund Expense Ratio :

Gross 1.43%

Net 1.42%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/30/2004
w/o sales charge 4.32% 4.24% 5.35% 6.38% 3.93% 2.96%
Lipper Category Avg. High Yield Municipal Debt Funds 2.11% 3.24% 4.60% 6.38% 4.95% -
Bloomberg Barclays High Yield Muni Index 4.85% 6.19% 7.17% 7.14% 6.02% -
w/ sales charge 3.32% 4.24% 5.35% 6.38% 3.93% 2.96%

Fund Expense Ratio :

Gross 1.43%

Net 1.42%

Fund Expense Ratio :

Gross 1.43%

Net 1.42%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/30/2004
w/o sales charge 3.24% 5.57% 4.99% 4.87% 3.81% 2.92%
Lipper Category Avg. High Yield Municipal Debt Funds 1.37% 4.31% 4.59% 5.17% 4.88% -
Bloomberg Barclays High Yield Muni Index 3.66% 7.13% 6.72% 5.56% 6.02% -
w/ sales charge 2.24% 5.57% 4.99% 4.87% 3.81% 2.92%

Fund Expense Ratio :

Gross 1.43%

Net 1.42%

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

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 of future results.

RELATED CONTENT

High Marks for High-Yield Municipals
June 18, 2018

In a difficult environment for fixed income, high-yield municipals have posted strong returns so far in 2018. Here are a few reasons investors may want to take another look.

Muni Bonds: Reading the Supply/Demand Signals
May 21, 2018

With more attractive yields on offer, an upturn in demand may come amid a tighter supply of newly issued municipal bonds.

Muni Matters: A Six-Point Reality Check for Investors
May 18, 2018

While media reports have emphasized the recent negative performance of municipal bonds, many indicators signal a healthy, resilient market.

Sector Assets
IDR/PCR
Healthcare/Hospital
Special Tax
GO Local
Education
Transportation
Water & Sewer
Lease
Pre-Refunded
GO State
Housing
VRDN
Power
Insured

The Fund's portfolio is actively managed and is subject to change.

Maturity Assets
<1 Year
1-4.99 Years
5-9.99 Years
10-14.99 Years
15-19.99 Years
20-24.99 Years
25-29.99 Years
>30 Years

The Fund's portfolio is actively managed and is subject to change.

Credit Quality Distribution as of 08/31/2018

Rating Assets
A-1/MIG1
A-2/MIG2
AAA
AA
A
BBB
BB
B
< B
Not Rated

Ratings provided by Standard & Poor's, Moody's, and Fitch. Where the rating agencies rate a security differently, Lord Abbett uses the higher credit rating. For a security with both a short-term and a long-term rating, Lord Abbett has categorized the security in the chart above using its short-term rating only. 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 are not rated. A-1/MIG1, A-2/MIG2 and A-3/MIG3 designations denote securities with less than a three-year maturity as well as superior (A-1/MIG1), strong (A-2/MIG2) and favorable (A-3/MIG3) credit quality. The credit quality breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Credit quality allocation reflects market value weightings.

Investment Team

Daniel S. Solender
Daniel S. Solender, CFA

Partner & Director

31 Years of Industry Experience

Supported By 15 Investment Professionals with 12 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 09/18/2018  

w/o sales charge 3.25%

30-Day Standardized Yield 2 as of 08/31/2018  

  Subsidized5 Un-Subsidized6
w/o sales charge 2.67% 2.67%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Fund Expense Ratio :

Gross 1.43%

Net 1.42%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/30/2004
w/o sales charge 4.32% 4.24% 5.35% 6.38% 3.93% 2.96%
Lipper Category Avg. High Yield Municipal Debt Funds 2.11% 3.24% 4.60% 6.38% 4.95% -
Bloomberg Barclays High Yield Muni Index 4.85% 6.19% 7.17% 7.14% 6.02% -
w/ sales charge 3.32% 4.24% 5.35% 6.38% 3.93% 2.96%

Fund Expense Ratio :

Gross 1.43%

Net 1.42%

Fund Expense Ratio :

Gross 1.43%

Net 1.42%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/30/2004
w/o sales charge 3.24% 5.57% 4.99% 4.87% 3.81% 2.92%
Lipper Category Avg. High Yield Municipal Debt Funds 1.37% 4.31% 4.59% 5.17% 4.88% -
Bloomberg Barclays High Yield Muni Index 3.66% 7.13% 6.72% 5.56% 6.02% -
w/ sales charge 2.24% 5.57% 4.99% 4.87% 3.81% 2.92%

Fund Expense Ratio :

Gross 1.43%

Net 1.42%

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

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 of future results.

Year Fund Returns Bloomberg Barclays High Yield Muni Index
2017 6.71% 9.68%
2016 2.04% 2.99%
2015 2.93% 1.81%
2014 13.78% 13.84%
2013 -7.58% -5.51%
2012 17.35% 18.14%
2011 3.78% 9.25%
2010 3.02% 7.79%
2009 34.90% 32.73%
2008 -33.18% -27.01%
2007 -7.83% -
2006 8.95% -
2005 6.55% -
2004 0.16% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2018 0.68% 2.55% - - 3.71%
2017 2.54% 1.78% 1.81% 0.43% 6.71%
2016 2.22% 4.22% 0.98% -5.14% 2.04%
2015 1.32% -1.30% 1.12% 1.79% 2.93%
2014 5.14% 3.84% 2.50% 1.67% 13.78%
2013 1.40% -5.37% -3.54% -0.15% -7.58%
2012 6.73% 3.12% 3.49% 3.03% 17.35%
2011 -1.87% 5.08% 1.38% -0.72% 3.78%
2010 3.07% 1.27% 4.32% -5.40% 3.02%
2009 8.07% 9.97% 14.47% -0.83% 34.90%
2008 -5.36% 0.08% -7.35% -23.86% -33.18%
2007 0.94% -0.48% -3.26% -5.16% -7.83%
2006 1.69% 1.11% 3.74% 2.14% 8.95%
2005 1.72% 3.52% 0.30% 0.89% 6.55%
2004 - - - - 0.16%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

PORTFOLIO BREAKDOWN as of 08/31/2018

Sector Assets
IDR/PCR
Healthcare/Hospital
Special Tax
GO Local
Education
Transportation
Water & Sewer
Lease
Pre-Refunded
GO State
Housing
VRDN
Power
Insured

The Fund's portfolio is actively managed and is subject to change.

PORTFOLIO BREAKDOWN as of 08/31/2018

Maturity Assets
<1 Year
1-4.99 Years
5-9.99 Years
10-14.99 Years
15-19.99 Years
20-24.99 Years
25-29.99 Years
>30 Years

The Fund's portfolio is actively managed and is subject to change.

PORTFOLIO BREAKDOWN as of 08/31/2018

Rating Assets
IL
CA
OH
NY
PA
Puerto Rico
NJ
FL
AL
TX
WI
CO
AZ
MD
IA
VA
MI
GA
MO
MA
IN
OK
LA
WA
MN
KS
WV
SC
NH
NV
TN
RI
ND
NM
OR
NE
CT
Other U.S. Territories
UT
AK
DE
ME
KY
DC

The Fund's portfolio is actively managed and is subject to change.

Credit QUALITY DISTRIBUTION as of 08/31/2018

Rating Assets
A-1/MIG1
A-2/MIG2
AAA
AA
A
BBB
BB
B
< B
Not Rated

Ratings provided by Standard & Poor's, Moody's, and Fitch. Where the rating agencies rate a security differently, Lord Abbett uses the higher credit rating. For a security with both a short-term and a long-term rating, Lord Abbett has categorized the security in the chart above using its short-term rating only. 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 are not rated. A-1/MIG1, A-2/MIG2 and A-3/MIG3 designations denote securities with less than a three-year maturity as well as superior (A-1/MIG1), strong (A-2/MIG2) and favorable (A-3/MIG3) credit quality. The credit quality breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Credit quality allocation reflects market value weightings.

Portfolio Positioning as of 06/30/2018

  • Although primarily invested in non-investment-grade bonds, the portfolio has an overweight in ‘BBB’ rated bonds, relative to its secondary benchmark, an 85%/15% blend of the Bloomberg Barclays U.S. High Yield Municipal Bond Index and the Bloomberg Barclays Municipal Bond Index. These securities offer potentially more attractive risk-adjusted income and liquidity versus below investment-grade bonds.
  • The portfolio’s largest sector weights include health care, a significant overweight, and the industrial development sector, a slight overweight.
  • The portfolio is overweight bonds within the 25- to 30-year maturity range.

Portfolio Details as of 08/31/2018

Total Net Assets
$2.18 B
Number of Issues
537
Average Coupon
5.0%
Average Effective Maturity
22.3 Years
Average Effective Duration
8.38 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
NY Liberty Dev Corp - 3 World Trade Ctr 5.000% 11/15/2044 1.9%
Iowa Finance Auth - Iowa Fertilizer Co 5.250% 12/01/2025 1.2%
Buckeye Tobacco Settlement Fin Auth 5.125% 06/01/2024 1.2%
Jefferson County Sewer 6.500% 10/01/2053 1.1%
California Statewide - Loma Linda Univ Medical Center 5.250% 12/01/2056 1.0%
City of Chicago General Obligation 6.000% 01/01/2038 0.9%
Buckeye OH Tobacco Settlement Fin Auth 5.875% 06/01/2047 0.9%
Lower Alabama Gas District - Goldman Sachs 5.000% 09/01/2046 0.9%
NYS Tobacco Settlement - TSASC 5.000% 06/01/2048 0.8%
Chicago Board of Education 5.250% 12/01/2041 0.8%
% of Total Assets 10.7%

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

Holdings as of07/31/2018

Holding Coupon Maturity Assets
NY Liberty Dev Corp - 3 World Trade Ctr5.000% 11/15/20441.9%
Iowa Finance Auth - Iowa Fertilizer Co5.250% 12/01/20251.2%
Buckeye Tobacco Settlement Fin Auth5.125% 06/01/20241.2%
Jefferson County Sewer6.500% 10/01/20531.1%
California Statewide - Loma Linda Univ Medical Center5.250% 12/01/20561.1%
City of Chicago General Obligation6.000% 01/01/20380.9%
Buckeye OH Tobacco Settlement Fin Auth5.875% 06/01/20470.9%
Lower Alabama Gas District - Goldman Sachs5.000% 09/01/20460.9%
NYS Tobacco Settlement - TSASC5.000% 06/01/20480.8%
Chicago Board of Education5.250% 12/01/20410.8%
Puerto Rico Sales Tax Financing Corporation5.250% 08/01/20400.8%
Niagara Area Dev Corp - Covanta Energy5.250% 11/01/20420.7%
Cleveland Airport - Continental Airlines5.375% 09/15/20270.7%
E-470 Public Highway Authority0.000% 09/01/20310.7%
Salt Verde Fin Corp - Citigroup5.000% 12/01/20370.7%
Metropolitan Pier & Exposition Auth, IL5.000% 06/15/20570.7%
Pub Fin Auth7.000% 12/01/20500.6%
Atlanta Dev Auth7.000% 01/01/20400.6%
West Virginia Hosp Fin Auth4.000% 06/01/20510.6%
Golden St Tobacco Securitization Corp.5.250% 06/01/20470.6%
Golden St Tobacco Securitization Corp.5.000% 06/01/20470.6%
California Statewide Comntys Dev Auth5.500% 12/01/20540.6%
San Buenaventura - Comunity Memorial Health8.000% 12/01/20260.5%
Illinois, IL6.000% 05/01/20260.5%
VA Tobacco Settlement Financing Corp5.000% 06/01/20470.5%
Genesis Hlthcare Sys, OH5.000% 02/15/20440.5%
NJ Tobacco Settlement Fin Corp5.000% 06/01/20460.5%
Buckeye Tobacco Settlement Fin Auth5.875% 06/01/20300.5%
Ohio Air Qlty Dev Auth4.500% 01/15/20480.5%
NY Transportation Dev Corp - LaGuardia Airport5.250% 01/01/20500.5%
Long Beach Bond Finance Auth5.500% 11/15/20370.5%
Puerto Rico Elec Pwr Auth5.250% 07/01/20400.5%
Franklin Hlth & Edl Facs Bd7.500% 06/01/20470.5%
Chicago Brd of Ed5.000% 12/01/20420.5%
Iowa Fin Auth5.250% 12/01/20500.5%
Golden St. Tobacco Securitization Corp5.125% 06/01/20470.5%
NJ Eco Dev Auth - Continental Airlines5.250% 09/15/20290.5%
Puerto Rico Sales Tax Financing Corp5.250% 08/01/20410.5%
Philadelphia Hosp & Hgr Ed Fac Auth, PA5.625% 07/01/20420.5%
Massachusetts Port Auth5.500% 01/01/20220.5%
Metropolitan Pier & Exposition Auth, IL5.500% 06/15/20530.5%
Oklahoma Dev Fin Auth5.500% 08/15/20570.5%
Moon Indus Dev Auth6.000% 07/01/20450.5%
Maryland Econ Dev Corp.5.000% 12/01/20310.5%
California Poll Cntrl Fin Auth5.000% 11/21/20450.4%
County of Ward ND5.000% 06/01/20530.4%
Mission Econ Dev Corp, TX5.750% 10/01/20310.4%
Cnty of Cuyahoga, OH5.500% 02/15/20520.4%
Buckeye Tobacco Settlement Fin Auth5.750% 06/01/20340.4%
Metropolitan Pier & Exposition Auth, IL0.000% 12/15/20360.4%
Indiana Fin Auth5.000% 07/01/20440.4%
Cleveland-Cuyahoga County Port Authority5.500% 12/01/20530.4%
Frederick Cnty, MD5.000% 09/01/20450.4%
Foothill Eastern Trsp Corridor Agency6.000% 01/15/20530.4%
West Pace Cooperative District9.125% 05/01/20390.4%
Maryland Hlth & Hgr Ed Facs Auth5.000% 07/01/20380.4%
Chicago Brd of Ed7.000% 12/01/20460.4%
Chicago Brd of Ed5.250% 12/01/20390.4%
Metropolitan Pier & Exposition Auth, IL5.000% 06/15/20500.4%
Buckeye Tobacco Settlement Fing Auth0.000% 06/01/20470.4%
Village Comnty Dev Dist No. 124.250% 05/01/20430.4%
Trustees of the Tulsa Muni Arpt Tr, OK5.000% 06/01/20350.4%
Kirkwood Indus Dev Auth8.250% 05/15/20390.4%
Rhode Island Hlth & Edl Bldg Corp.5.000% 09/01/20360.3%
Montgomery Cnty Indus Dev Auth, PA5.250% 01/15/20450.3%
Tobacco Settlement Fing Corp.5.250% 06/01/20460.3%
Public Auth For CO Energy6.500% 11/15/20380.3%
Chicago Brd of Ed5.250% 12/01/20350.3%
Howard Cnty, MD5.000% 04/01/20460.3%
Baker Correctional Dev Corp.8.500% 02/01/20300.3%
River Islands Public Fing Auth5.500% 09/01/20450.3%
Jefferson Cnty, AL6.000% 10/01/20420.3%
Cnty of Botetourt VA6.000% 07/01/20440.3%
Pub Fin Auth7.000% 10/01/20420.3%
New York City Transitional Finance Auth - Future Tax1.590% 08/01/20230.3%
Overland Park Dev Corp5.125% 01/01/20320.3%
Tender Option Bnd Tr Receipts/Certificates9.680% 01/01/20340.3%
Mid Bay Br Auth, FL7.250% 10/01/20340.3%
Orange Cnty Comnty Facs Dist5.000% 08/15/20460.3%
Holmes Cnty Hosp Corp.6.000% 11/01/20380.3%
Louisiana Local Govt Envr Facs Comnty Dev Auth6.250% 11/15/20450.3%
Hesperia Public Fing Auth5.000% 09/01/20310.3%
Philadelphia Hosp & Hgr Ed Fac Auth, PA5.625% 07/01/20360.3%
Kansas City Land Clearance Redevelopment Authority5.000% 02/01/20500.3%
Arkansas City Public Bldg Comm6.750% 09/01/20380.3%
Florida Dev Fin Corp.7.500% 06/15/20330.3%
Illinois, IL4.000% 06/01/20370.3%
New York City Indl Dev Agy5.000% 07/01/20280.3%
Pub Fin Auth6.850% 10/01/20470.3%
Rochester, MN7.375% 12/01/20410.3%
Metropolitan Pier & Exposition Auth, IL5.000% 06/15/20530.3%
Cnty of Licking, OH6.000% 07/01/20500.3%
South Carolina Jobs Econ Dev Auth5.000% 11/01/20460.3%
Pub Fin Auth5.000% 07/01/20420.3%
Colorado Hlth Facs Auth7.750% 08/01/20290.3%
Central Plains Energy - Goldman Sachs5.000% 09/01/20420.3%
New Jersey Transp Tr Fnd Auth0.000% 12/15/20340.3%
Puerto Rico Aqueduct & Swr Auth5.250% 07/01/20420.3%
Allegheny Cnty Indl Dev Auth, PA6.875% 05/01/20300.3%
Decatur Hosp Auth5.250% 09/01/20440.3%
City of Scranton, PA5.000% 11/15/20320.3%
Iowa Tobacco Settlement Auth5.375% 06/01/20380.3%
Louisiana Pub Facs Auth6.375% 12/01/20340.3%
New York City Indl Dev Agy5.000% 01/01/20310.3%
New Jersey Econ Dev Auth5.500% 04/01/20280.3%
New Mexico Hosp Equipment Loan Council5.500% 07/01/20420.3%
Chicago Brd of Ed5.500% 12/01/20390.3%
New Jersey Econ Dev Auth5.000% 06/15/20470.3%
Foothill Eastern Transportation Corridor Agency6.000% 01/15/20490.3%
California Muni Fin Auth4.000% 12/31/20470.3%
Chicago Brd of Ed6.500% 12/01/20460.3%
New Jersey Econ Dev Auth5.125% 09/15/20230.3%
Jefferson Cnty, AL5.000% 10/01/20440.3%
Pub Fin Auth6.850% 11/01/20460.3%
South Carolina St Ports Auth5.250% 07/01/20550.3%
California State Pub Wks Bd5.000% 04/01/20340.3%
Apache County Indus Dev Auth - Tucson Electric4.500% 03/01/20300.3%
Sparks Tourism Improvement District6.750% 06/15/20280.3%
Colorado Hlth Facs Auth7.750% 08/01/20390.3%
New Jersey Econ Dev Auth5.625% 01/01/20520.3%
Suffolk Tobacco Asset Securitization Corp.6.625% 06/01/20440.3%
Chicago Brd of Ed5.000% 12/01/20300.3%
San Joaquin Hills Transp Corridor Agy, CA5.250% 01/15/20490.3%
Cnty of Cuyahoga, OH5.500% 02/15/20570.3%
Chicago5.000% 01/01/20520.3%
Detroit, MI5.250% 07/01/20410.3%
Massachusetts Dev Fin Agy5.000% 10/01/20570.2%
Kirkwood Indus Dev Auth5.250% 05/15/20500.2%
Sacramento Cnty Tobacco Settlement Securitization5.500% 06/01/20450.2%
Chicago Brd of Ed5.000% 12/01/20290.2%
Chester Cnty Indus Dev Auth5.375% 10/15/20420.2%
Northern Palm Beach Cnty Impt Dist5.000% 08/01/20460.2%
California Statewide Comntys Dev Auth5.500% 07/01/20390.2%
Golden St Tobacco Securitization Corp.5.300% 06/01/20370.2%
Arlington Higher Ed Fin Corp., TX5.500% 08/15/20460.2%
Utah St Charter Sch Fin Auth5.375% 06/15/20480.2%
Florida Dev Fin Corp.6.125% 06/15/20460.2%
New Jersey Tpk Auth4.000% 01/01/20430.2%
Cnty of Tuscarawas OH6.000% 03/01/20450.2%
Glendale Industrial Development Authority5.000% 11/15/20450.2%
Parish of Beauregard, LA6.800% 02/01/20270.2%
La Vernia Higher Ed Fin Corp., TX7.250% 08/15/20310.2%
Compton Comnty Redev Agy6.000% 08/01/20420.2%
Village Comnty Dev Dist No. 124.375% 05/01/20500.2%
California Muni Fin Auth5.625% 03/01/20450.2%
Metropolitan Pier & Exposition Auth, IL5.250% 06/15/20500.2%
West Virginia Hosp Fin Auth6.500% 10/01/20280.2%
Scranton Redev Auth5.000% 11/15/20280.2%
Northern Tobacco Securitization Corp.5.000% 06/01/20320.2%
Michigan Tobacco Settlement Fin Auth6.000% 06/01/20340.2%
Essex Cnty Imp Auth, NJ5.250% 07/01/20450.2%
St. Louis Indus Dev Auth, MO4.750% 11/15/20470.2%
Massachusetts Educational Financing Authority4.125% 07/01/20460.2%
Pub Fin Auth5.125% 06/01/20480.2%
Guadalupe Regional Medical Center5.000% 12/01/20400.2%
Prince George's Cnty Rev Auth5.000% 07/01/20460.2%
Fulton Cnty Indus Dev Auth, PA5.000% 07/01/20510.2%
City of Blaine, MN6.125% 07/01/20500.2%
New Jersey Transp Tr Fnd Auth0.000% 12/15/20290.2%
Puerto Rico5.000% 07/01/20200.2%
Clifton Hgr Ed Fin Corp., TX5.750% 08/15/20450.2%
Valparaiso, IN7.000% 01/01/20440.2%
Jefferson Cnty, AL0.000% 10/01/20460.2%
Gaithersburg, MD6.000% 01/01/20230.2%
Pima Cnty Indus Dev Auth, AZ5.000% 06/15/20520.2%
Millsboro, DE5.450% 07/01/20360.2%
Buckeye Tobacco Settlement Fing Auth0.000% 06/01/20520.2%
Flint Hosp Bldg Auth7.000% 07/01/20300.2%
New York City Transitional Fin Auth1.600% 11/01/20220.2%
Illinois Fin Auth5.000% 04/01/20310.2%
Tobacco Settlement Fing Corp.0.000% 06/01/20470.2%
Golden St Tobacco Securitization Corp.0.000% 06/01/20470.2%
Chicago, IL5.000% 01/01/20260.2%
Illinois Fin Auth5.000% 04/01/20210.2%
Jefferson Cnty, AL0.000% 10/01/20420.2%
Jefferson Cnty, AL0.000% 10/01/20390.2%
Antelope Valley Hlthcare Dist5.000% 03/01/20410.2%
Puerto Rico Aqueduct & Swr Auth6.000% 07/01/20380.2%
Tern Bay Comnty Dev Dist5.375% 05/01/20370.2%
Wisconsin Hlth & Edl Facs Auth5.375% 02/01/20480.2%
Allentown Neighborhood Impt Zone Dev Auth5.000% 05/01/20420.2%
Philadelphia Auth for Indus Dev5.000% 07/01/20490.2%
Hosp Auth of Hall Cnty and The City of Gainesville5.500% 08/15/20540.2%
Michigan Public Edl Facs Auth6.500% 09/01/20370.2%
Pima Cnty Indus Dev Auth, AZ5.000% 06/15/20470.2%
Michigan Strategic Fnd5.500% 06/01/20470.2%
Glendale Industrial Development Authority5.000% 11/15/20400.2%
Chester County Health & Education Facilities Autho5.000% 11/01/20370.2%
Maricopa Cnty Indus Dev Auth, AZ5.000% 07/01/20470.2%
Chester County Health & Education Facilities Autho5.000% 11/01/20460.2%
Holmes Cnty Hosp Corp.5.750% 11/01/20260.2%
New Jersey Econ Dev Auth5.500% 06/15/20290.2%
Puerto Rico Sales Tax Fincg Corp5.375% 08/01/20390.2%
Illinois Fin Auth5.000% 04/01/20230.2%
Massachusetts Dev Fin Agy4.000% 07/01/20470.2%
Fulton Cnty Indus Dev Auth, PA5.000% 07/01/20460.2%
Marietta Dev Auth5.000% 11/01/20370.2%
South Carolina Jobs Econ Dev Auth5.000% 11/01/20420.2%
Chicago, IL5.000% 01/01/20380.2%
Denver Hlth and Hosp Auth, CO5.250% 12/01/20450.2%
California Statewide Fing Auth0.000% 06/01/20460.2%
Denver City & Cnty Dept of Aviation, CO5.500% 11/15/20250.2%
Glenville State College5.250% 06/01/20470.2%
Florida Dev Fin Corp.5.000% 07/15/20460.2%
Compton, CA6.000% 08/01/20390.2%
Illinois Fin Auth7.250% 02/15/20450.2%
Inland Empire Tobacco Securitization Auth5.000% 06/01/20210.2%
Philadelphia Auth for Indus Dev6.625% 06/01/20500.2%
Inland Valley Development Agency5.250% 09/01/20370.2%
Martin Cnty Hosp Dist7.250% 04/01/20360.2%
Illinois Fin Auth4.000% 11/15/20520.2%
Maricopa Cnty Poll Cntrl Corp., AZ7.250% 02/01/20400.2%
Michigan Tobacco Settlement Fin Auth5.250% 06/01/20220.2%
Chicago, IL5.000% 01/01/20340.2%
Harris Cnty Cultural Ed Facs Fin Corp., TX7.000% 01/01/20430.2%
Illinois, IL3.500% 06/01/20290.2%
Metropolitan Pier & Exposition Auth, IL0.000% 12/15/20540.2%
Wilson Cnty, KS5.600% 09/01/20360.2%
Fort Bend Cnty Indus Dev Corp.4.750% 11/01/20420.2%
San Joaquin Hills Transp Corridor Agy, CA5.250% 01/15/20440.2%
Vigo Cnty Hosp Auth8.000% 09/01/20410.2%
Prairie Center Metropolitan District No 35.000% 12/15/20410.2%
Chicago, IL5.500% 01/01/20330.2%
King Cnty Public Hosp Dist No 46.250% 12/01/20450.2%
Antelope Valley Hlthcare Dist5.000% 03/01/20460.2%
Multnomah Cnty Hosp Facs Auth, OR5.400% 10/01/20440.2%
New York City Transitional Fin Auth1.600% 08/01/20310.2%
Burke Cnty Dev Auth, GA4.125% 11/01/20450.2%
Indus Dev Auth of the Twn of Florence, Inc., AZ6.000% 07/01/20430.2%
Jacksonville, FL5.000% 06/01/20530.2%
Village of Bellwood, IL5.875% 12/01/20270.2%
Florida Hgr Edl Facs Fin Auth5.000% 06/01/20480.2%
Tarrant Cnty Cult Ed Facs Fin Corp, TX6.750% 11/15/20520.2%
City of Reno NV0.000% 07/01/20580.2%
New Jersey Transp Tr Fnd Auth5.000% 06/15/20300.2%
Fremont Cmnty Facs Dist No 15.000% 09/01/20450.2%
Washington St Hsg Fin Comm6.750% 10/01/20470.2%
Illinois Fin Auth5.250% 05/15/20500.2%
Greater Wenatchee Regl Events Center Pub Facs Dist5.500% 09/01/20420.2%
Inland Empire Tobacco Securitization Auth4.625% 06/01/20210.2%
Pub Fin Auth4.300% 11/01/20300.2%
Celebration Pointe Comnty Dev Dist5.000% 05/01/20480.2%
Tobacco Settlement Fing Corp.0.000% 06/01/20520.2%
Chicago Brd of Ed5.000% 12/01/20310.2%
Illinois Fin Auth7.125% 02/01/20340.1%
Houston, TX5.000% 07/15/20350.1%
Marietta Dev Auth5.000% 11/01/20470.1%
Tarrant Cnty Cult Ed Facs Fin Corp, TX5.500% 11/15/20450.1%
Chicago5.000% 01/01/20310.1%
River Islands Public Fing Auth5.500% 09/01/20450.1%
Kentucky Econ Dev Fin Auth5.375% 11/15/20320.1%
Pennsylvania4.000% 07/01/20460.1%
New York City Indl Dev Agy5.000% 01/01/20360.1%
Village of Bellwood, IL6.150% 12/01/20320.1%
NY Transportation Dev Corp - Delta4.000% 01/01/20360.1%
Broward Cnty, FL5.125% 10/01/20380.1%
Chicago, IL5.250% 01/01/20320.1%
Louisiana Hsg Fin Agy8.000% 09/01/20390.1%
Kirkwood Indus Dev Auth8.000% 05/15/20290.1%
Oklahoma Dev Fin Auth5.500% 08/15/20520.1%
New Hope Cultural Ed Fin Corp, TX5.000% 07/01/20360.1%
Howard Cnty, MD5.000% 04/01/20440.1%
Northern Palm Beach Cnty Impt Dist5.000% 08/01/20460.1%
Puerto Rico Sales Tax Fincg Corp5.500% 08/01/20400.1%
Tulsa Cnty Indus Auth5.250% 11/15/20450.1%
Upper San Juan Hlth Svcs Dist6.125% 06/01/20460.1%
Fairfax Cnty Econ Dev Auth, VA5.000% 12/01/20420.1%
Genesis Hlthcare Sys, OH5.000% 02/15/20330.1%
New Jersey Econ Dev Auth5.625% 11/15/20300.1%
New Jersey Transportation Trust Fund6.000% 06/15/20350.1%
Illinois Fin Auth5.250% 02/15/20470.1%
Alachua Cnty Hlth Facs Auth6.250% 11/15/20440.1%
Virgin Islands Pub Fin Auth5.000% 10/01/20290.1%
Colorado International Center Metropolitan Distric5.875% 12/01/20460.1%
Iowa Tobacco Settlement Auth5.500% 06/01/20420.1%
Metropolitan Pier & Exposition Auth, IL5.000% 06/15/20520.1%
California Statewide Comntys Dev Auth6.000% 10/01/20420.1%
Flint Hosp Bldg Auth7.375% 07/01/20350.1%
Tender Option Bnd Tr Receipts/Certificates10.190% 08/15/20300.1%
Tarrant Cnty Cult Ed Facs Fin Corp, TX6.750% 11/15/20470.1%
Chicago, IL5.250% 01/01/20280.1%
Crawford Cnty Hosp Auth6.000% 06/01/20510.1%
New Hope Cultural Ed Fin Corp, TX5.500% 01/01/20490.1%
Illinois, IL4.000% 01/01/20260.1%
Guam Waterworks Auth5.500% 07/01/20430.1%
San Francisco City & Cnty Redev Fing Auth, CA5.000% 08/01/20440.1%
Pennsylvania Econ Dev Fing Auth8.000% 05/01/20290.1%
Pub Fin Auth5.250% 04/01/20300.1%
Palm Beach Cnty Hlth Facs Auth, FL7.500% 06/01/20490.1%
California Statewide Comntys Dev Auth7.250% 11/15/20410.1%
New Jersey Transp Tr Fnd Auth5.000% 06/15/20310.1%
Arizona Indus Dev Auth5.000% 07/01/20510.1%
Chicago Brd of Ed5.000% 12/01/20310.1%
Jefferson Cnty, AL0.000% 10/01/20280.1%
Woodbury Hsg & Redev Auth5.125% 12/01/20440.1%
Philadelphia Auth for Indus Dev6.500% 06/01/20450.1%
California Sch Fin Auth5.125% 07/01/20440.1%
Plaza Metropolitan Dist No 15.000% 12/01/20400.1%
Chester Cnty Indus Dev Auth5.250% 10/15/20470.1%
Florida Dev Fin Corp.6.375% 05/15/20370.1%
California Statewide Comntys Dev Auth5.750% 07/01/20350.1%
San Diego Cnty Tobacco Asset Securitization Corp0.000% 06/01/20460.1%
Phoenix Indus Dev Auth, AZ5.000% 07/01/20450.1%
Chicago Brd of Ed7.000% 12/01/20440.1%
Illinois Fin Auth5.000% 04/01/20250.1%
Pub Fin Auth5.250% 05/15/20520.1%
Indiana Fin Auth5.000% 07/01/20400.1%
San Francisco City & Cnty Redev Fing Auth, CA5.000% 08/01/20390.1%
Virginia Small Business Fing Auth5.000% 12/31/20520.1%
Colorado Hlth Facs Auth5.250% 05/15/20470.1%
Foothill-Eastern Transp Corridor Agy, CA0.000% 01/15/20330.1%
Anson Ed Facs Corp.5.000% 08/15/20450.1%
E-470 Pub Hwy Auth, CO0.000% 09/01/20370.1%
Crawford Cnty Hosp Auth6.000% 06/01/20460.1%
Illinois Fin Auth6.000% 05/15/20430.1%
Michigan Tobacco Settlement Fin Auth5.125% 06/01/20220.1%
Puerto Rico Aqueduct & Sewer Authority5.125% 07/01/20370.1%
Puerto Rico Sales Tax Fincg Corp5.500% 08/01/20420.1%
Foothill-Eastern Transp Corridor Agy, CA6.500% 01/15/20430.1%
Indiana Fin Auth5.000% 07/01/20350.1%
Rockdale Cnty Dev Auth4.000% 01/01/20380.1%
Inland Empire Tobacco Securitization Auth0.000% 06/01/20570.1%
Orange Cnty Comnty Facs Dist5.250% 08/15/20450.1%
Puerto Rico4.500% 07/01/20230.1%
Upper San Juan Hlth Svcs Dist6.000% 06/01/20410.1%
Pub Fin Auth5.000% 12/01/20250.1%
Puerto Rico Sales Tax Fincg Corp5.500% 08/01/20280.1%
Pub Fin Auth5.750% 11/15/20440.1%
Puerto Rico Sales Tax Fincg Corp5.000% 08/01/20240.1%
Maryland Econ Dev Corp.5.000% 12/01/20160.1%
Anne Arundel Cnty Consolidated Spl Taxing Dist5.250% 07/01/20440.1%
Frederick Cnty, MD5.000% 09/01/20370.1%
Washington St Hsg Fin Comm7.000% 07/01/20500.1%
New Jersey Econ Dev Auth5.000% 06/15/20420.1%
Washington St Hsg Fin Comm6.500% 10/01/20320.1%
San Mateo, CA5.000% 09/01/20420.1%
Miami World Center Comnty Dev Dist5.250% 11/01/20490.1%
Phoenix Indus Dev Auth, AZ5.000% 07/01/20350.1%
Massachusetts Dev Fin Agy4.875% 11/01/20420.1%
Chicago Brd of Ed5.000% 12/01/20320.1%
Woodbury Hsg & Redev Auth5.250% 12/01/20490.1%
New Jersey Econ Dev Auth5.500% 06/01/20330.1%
Rochester, MN6.875% 12/01/20290.1%
Hanover Cnty Econ Dev Auth5.000% 07/01/20420.1%
Cumberland Cnty Muni Auth, PA6.000% 01/01/20400.1%
Cumberland Cnty Muni Auth, PA5.250% 01/01/20410.1%
Hanover Cnty Econ Dev Auth5.000% 07/01/20470.1%
Phoenix Indus Dev Auth, AZ5.000% 07/01/20460.1%
New Hope Cultural Ed Fin Corp, TX5.000% 07/01/20460.1%
West Virginia Hosp Fin Auth6.500% 10/01/20380.1%
Puerto Rico5.625% 07/01/20320.1%
Arizona Indus Dev Auth5.000% 07/01/20220.1%
Maryland Econ Dev Corp.5.250% 12/01/20310.1%
Puerto Rico Sales Tax Financing Corp5.750% 08/01/20370.1%
District of Columbia, DC5.000% 07/01/20520.1%
Kirkwood Indus Dev Auth5.250% 05/15/20420.1%
Puerto Rico Electric Power Authority5.750% 07/01/20360.1%
Michigan Public Edl Facs Auth8.750% 09/01/20390.1%
Southeastern Ohio Port Auth6.000% 12/01/20420.1%
California Statewide Comntys Dev Auth5.250% 11/15/20340.1%
Gainesville & Hall Cnty Dev Auth5.000% 03/01/20470.1%
City of Rockville MD5.000% 11/01/20420.1%
Salem Hosp Fac Auth6.000% 05/15/20470.1%
Red River Hlth Facs Dev Corp.7.750% 11/15/20440.1%
California State Pub Wks Bd5.750% 10/01/20310.1%
Appling County Dev Auth - Georgia Power1.590% 09/01/20410.1%
Dorm Auth of the St of New York4.000% 08/01/20360.1%
San Mateo, CA5.500% 09/01/20440.1%
South Jersey Port Corp, NJ5.000% 01/01/20420.1%
Upper Illinois River Vly Dev Auth7.375% 11/15/20450.1%
City of Aurora, IL6.500% 12/30/20230.1%
Harris Cnty Cultural Ed Facs Fin Corp., TX5.125% 01/01/20480.1%
Kansas City Land Clearance Redevelopment Authority5.000% 02/01/20400.1%
Connecticut Hlth & Educl Facs Auth5.000% 09/01/20530.1%
City of Rockville MD5.000% 11/01/20470.1%
Iowa Higher Ed Loan Auth5.000% 10/01/20370.1%
Wisconsin Hlth & Edl Facs Auth5.000% 08/01/20390.1%
Chicago Brd of Ed5.000% 12/01/20330.1%
Michigan Strategic Fnd5.250% 06/01/20320.1%
Rockland Tobacco Asset Securitization Corp0.000% 08/15/20600.1%
Glendale Industrial Development Authority5.000% 11/15/20360.1%
Build NYC Resource Corp., NY5.000% 01/01/20350.1%
Michigan Tobacco Settlement Fin Auth0.000% 06/01/20580.1%
Dutchess Cnty Local Dev Corp., NY6.000% 10/01/20300.1%
Tempe Industrial Development Authority6.125% 10/01/20520.1%
Director St Dept Business & Indus, NV5.000% 12/15/20480.1%
Dorm Auth of the St of New York5.000% 11/01/20310.1%
Rumford, ME6.875% 10/01/20260.1%
Puerto Rico Elec Pwr Auth5.000% 07/01/20420.1%
Cleveland-Cuyahoga County Port Authority5.500% 12/01/20430.1%
Washington St Hsg Fin Comm7.000% 07/01/20450.1%
Glenville State College5.000% 06/01/20370.1%
Wisconsin Hlth & Edl Facs Auth5.000% 08/01/20320.1%
Philadelphia Auth for Indus Dev5.000% 07/01/20420.1%
Metropolitan Pier & Exposition Auth, IL0.000% 06/15/20470.1%
Suffolk Cnty Indus Dev Agy5.500% 01/01/20370.1%
Virginia Small Business Fing Auth6.000% 01/01/20370.1%
Washington St Hsg Fin Comm6.000% 01/01/20240.1%
Gainesville & Hall Cnty Dev Auth5.125% 03/01/20520.1%
Tempe Industrial Development Authority6.000% 10/01/20370.1%
Puerto Rico Sales Tax Fincg Corp6.125% 08/01/20290.1%
Pennsylvania5.000% 07/01/20430.1%
Eaton Area Park & Recreation Dist5.250% 12/01/20340.1%
San Diego Cnty Tobacco Asset Securitization Corp0.000% 06/01/20460.1%
Silicon Vly Tobacco Securitization Auth0.000% 06/01/20560.1%
California Statewide Comntys Dev Auth5.750% 07/01/20240.1%
Indiana Fin Auth7.000% 10/01/20390.1%
NJ Eco Dev Auth - Goethals Bridge5.375% 01/01/20430.1%
California Muni Fin Auth5.000% 06/01/20480.1%
Ohio Air Qlty Dev Auth4.250% 01/15/20380.1%
Finance Authority of Maine4.375% 08/01/20350.1%
Spanish Fort Cooperative Dist9.000% 02/01/20290.1%
Puerto Rico Elec Pwr Auth5.050% 07/01/20420.1%
Upper Illinois River Vly Dev Auth7.250% 11/15/20400.1%
Yonkers Econ Dev Corp., NY6.000% 10/15/20300.1%
Houston Cnty Cooperative Dist10.000% 05/01/20390.1%
Puerto Rico Hwy & Transp Auth5.000% 07/01/20200.1%
Valparaiso, IN5.875% 01/01/20240.1%
Chicago Brd of Ed6.750% 12/01/20300.1%
Southeastern Ohio Port Auth5.500% 12/01/20430.1%
Puerto Rico Sales Tax Fincg Corp5.000% 08/01/20430.1%
Red River Hlth Facs Dev Corp.8.000% 11/15/20490.1%
Alachua Cnty Hlth Facs Auth8.000% 10/01/20460.1%
City of Aurora, IL6.750% 12/30/20270.1%
Puerto Rico5.000% 07/01/20230.1%
Clifton Hgr Ed Fin Corp., TX6.000% 08/15/20430.1%
Foothill-Eastern Transp Corridor Agy, CA5.750% 01/15/20460.1%
Metropolitan Pier & Exposition Auth, IL0.000% 12/15/20520.1%
Illinois, IL4.500% 11/01/20390.1%
Antelope Valley Hlthcare Dist5.250% 03/01/20360.1%
Lancaster Cnty Hosp Auth, PA5.250% 07/01/20410.1%
Port of Seattle Indus Dev Corp., WA5.000% 04/01/20300.1%
Phoenix Indus Dev Auth, AZ5.000% 07/01/20420.1%
California Statewide Comntys Dev Auth6.000% 10/01/20470.1%
Lancaster Cnty Hosp Auth, PA5.125% 07/01/20370.1%
Pub Fin Auth5.250% 05/15/20470.1%
City of Scranton, PA5.000% 09/01/20290.1%
California Statewide Comntys Dev Auth5.625% 10/01/20320.1%
South Jersey Port Corp, NJ5.000% 01/01/20480.1%
Salem Hosp Fac Auth5.625% 05/15/20320.1%
Massachusetts Dev Fin Agy5.000% 10/01/20470.1%
Fairfax Cnty Econ Dev Auth, VA5.000% 12/01/20320.1%
City of Reno NV0.000% 07/01/20580.0%
Alachua Cnty Hlth Facs Auth6.375% 11/15/20490.0%
Southlands Metropolitan District No 15.000% 12/01/20470.0%
California Statewide Comntys Dev Auth7.000% 11/15/20290.0%
Chicago, IL5.500% 01/01/20370.0%
Pennsylvania Econ Dev Fing Auth5.500% 11/01/20440.0%
Connecticut Hlth & Educl Facs Auth5.000% 09/01/20460.0%
Hanover Cnty Econ Dev Auth5.000% 07/01/20510.0%
Mesquite Hlth Facs Dev Corp., TX5.125% 02/15/20420.0%
Anne Arundel Cnty Consolidated Spl Taxing Dist5.125% 07/01/20360.0%
Village Comnty Dev Dist No 106.000% 05/01/20440.0%
Chester Cnty Indus Dev Auth5.125% 10/15/20370.0%
Colorado Hlth Facs Auth5.250% 01/01/20370.0%
Arizona Indus Dev Auth5.000% 07/01/20470.0%
Dorm Auth of the St of New York5.000% 08/01/20330.0%
Dorm Auth of the St of New York5.000% 08/01/20350.0%
Pub Fin Auth0.000% 10/01/20420.0%
District of Columbia Tobacco Settlement Financing0.000% 06/15/20550.0%
Puerto Rico Elec Pwr Auth5.500% 07/01/20380.0%
Plymouth Edl Ctr Charter Sch, MI5.375% 11/01/20300.0%
Dorm Auth of the St of New York4.000% 08/01/20380.0%
Flint Hosp Bldg Auth7.500% 07/01/20390.0%
Arborwood Comnty Dev Dist6.900% 05/01/20360.0%
Colorado Hlth Facs Auth5.250% 05/15/20370.0%
Alachua Cnty Hlth Facs Auth8.000% 10/01/20420.0%
Northern Palm Beach Cnty Impt Dist5.000% 08/01/20370.0%
Florida Dev Fin Corp.3.519% 05/15/20370.0%
Illinois Fin Auth7.000% 11/15/20270.0%
Chicago Brd of Ed5.000% 12/01/20350.0%
Monroe Tobacco Asset Securitization Corp0.000% 06/01/20610.0%
Eaton Area Park & Recreation Dist5.500% 12/01/20300.0%
Hanover Cnty Econ Dev Auth5.000% 07/01/20480.0%
Chicago Brd of Ed5.000% 12/01/20340.0%
Sparks, NV6.750% 09/01/20270.0%
Tobacco Settlement Fing Corp.0.000% 06/01/20470.0%
Michigan Public Edl Facs Auth7.000% 10/01/20360.0%
Virginia Small Business Fing Auth5.000% 01/01/20480.0%
Dorm Auth of the St of New York4.000% 08/01/20370.0%
Kirkwood Indus Dev Auth8.000% 05/15/20210.0%
Arborwood Comnty Dev Dist6.900% 05/01/20250.0%
California Muni Fin Auth5.250% 08/15/20390.0%
Houston Cnty Cooperative Dist12.500% 06/07/20130.0%
Dorm Auth of the St of New York5.000% 08/01/20340.0%
City of Scranton, PA5.000% 09/01/20280.0%
Puerto Rico4.000% 07/01/20200.0%
Stone Canyon Comnty Impt Dist5.700% 04/01/20220.0%
Illinois Fin Auth5.875% 03/01/20270.0%
Cumberland Cnty Muni Auth, PA5.400% 01/01/20220.0%
Illinois Fin Auth6.000% 03/01/20370.0%
Atlantic City, NJ5.000% 03/01/20320.0%
Puerto Rico Pub Fin Corp.5.500% 08/01/20310.0%
Puerto Rico Hwy & Transp Auth5.000% 07/01/20220.0%
TSASC, Inc.5.000% 06/01/20360.0%
Burke Cnty Dev Auth, GA4.125% 11/01/20450.0%
Orange Grove Cmty Dev Dist5.300% 11/01/20210.0%
Magnolia West Comnty Dev Dist5.350% 05/01/20370.0%
Hanover Cnty Econ Dev Auth5.000% 07/01/20380.0%
Chicago, IL5.500% 01/01/20420.0%
Maine Hlth & Hgr Edl Facs Auth6.750% 07/01/20360.0%
Maine Hlth & Hgr Edl Facs Auth6.000% 07/01/20260.0%
Illinois Fin Auth0.000% 11/15/20520.0%
Grandview Indus Dev Auth5.750% 12/01/20280.0%
Illinois Fin Auth0.000% 11/15/20520.0%
Illinois Fin Auth0.000% 11/15/20520.0%
Durbin Crossing Cmnty Dev Dist5.500% 05/01/20370.0%
Arborwood Comnty Dev Dist6.900% 05/01/20360.0%
Pub Fin Auth0.000% 10/01/20420.0%
Middlesex Cnty Impt Auth6.250% 01/01/20370.0%
Puerto Rico Hwy & Transp Auth5.000% 07/01/20280.0%
Iowa Finance Auth - Iowa Fertilizer Co5.500% 12/01/20220.0%
Middlesex Cnty Impt Auth6.125% 01/01/20250.0%
Florida Dev Fin Corp.2.800% 05/15/20370.0%
Michagan St Strategic Fd Escrow8.375% 07/15/20330.0%
Ohio St Pollution Ctl Rev Escrow8.375% 07/15/20330.0%
Moraine OH Solid Waste Dis Escrow8.375% 07/15/20330.0%
US 20YR Treasury Future Sep 20080.000% -0.0%

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

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 09/18/2018
$0.262
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 08/31/2018 $0.03229 $12.03
Daily Daily 07/31/2018 $0.03226 $11.97
Daily Daily 06/30/2018 $0.03356 $11.97
Daily Daily 05/31/2018 $0.03226 $11.90
Daily Daily 04/30/2018 $0.03276 $11.78
Daily Daily 03/31/2018 $0.03300 $11.77
Daily Daily 02/28/2018 $0.03440 $11.69
Daily Daily 01/31/2018 $0.03214 $11.73

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 09/30/2018
Daily Daily 10/31/2018
Daily Daily 11/30/2018
Daily Daily 12/31/2018

Fees & Expenses

Fees & Expenses

Expense Ratioas of 08/31/2018

Fund Gross Expense Ratio Fund Net Expense Ratio
1.43% 1.42%

Expense ratio details, Click here.

Fund Documents

Fund Documents

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

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IMPORTANT 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.

 

5

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

 

6

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

 

IMPORTANT INFORMATION

 

A Note about Risk: The Fund invests substantially in high-yield securities which carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. High-yield municipal bonds are subject to greater risk of loss of income and principal than higher-rated securities, and are likely to be more sensitive to adverse economic changes or individual municipal developments than those of higher-rated securities. In addition, because the Fund is nondiversified, it will be more exposed to risks from a single adverse economic, political, or regulatory event than a diversified fund. A portion of the income derived from the Fund's portfolio may be subject to the alternative minimum tax. Any capital gains realized may be subject to taxation. Federal, state, and local taxes may apply. There is a risk that a bond issued as tax-exempt may be reclassified by the IRS as taxable, creating taxable rather than tax-exempt income. In addition, the Fund is subject to other types of risks, such as call, credit, liquidity, interest rate, and general market risks. The Fund may invest in Puerto Rico and other U.S. territories, commonwealths, and possessions, and may be affected by local, state, and regional factors. These may include, for example, economic or political developments, erosion of the tax base, and the possibility of credit problems. These factors can affect Fund performance.

 

 

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

 

 

Class C - Class C shares are subject to ongoing 12b-1 service and distribution fees as well as a maximum CDSC of 1 percent if you redeem your shares before the first anniversary of your original purchase.

Class C 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 Barclays High Yield Municipal Bond Index is an unmanaged index consisting of noninvestment-grade, unrated or below Ba1 bonds. The Barclays High Yield Municipal Bond Index is a subset of the Barclays Municipal Bond Index; a rules-based, market-value-weighted index engineered for the long-term tax-exempt bond market.

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.

 

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.

The net expense ratio takes into account deductions for certain interest and related expenses from certain of the Fund's investments. Under accounting rules, the Fund recognized additional income in an amount that directly offsets these interest and related expenses. Therefore, the Fund's total returns and net asset value were not affected by such interest and related expenses.

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

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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