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High Yield Municipal Bond Fund

Daily price w/o sales charge as of 05/18/2018

$11.80

arrowUp$0.01

YTD Returns w/o sales charge as of 05/18/2018

1.38%

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 05/18/2018  

w/o sales charge 3.33%

30 Day Standardized yield 2 as of 04/30/2018  

2.77%

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

Fund Basicsas of 04/30/2018

Total Net Assets
$2.07 B
Inception Date
12/30/2004
Dividend Frequency
Monthly
Fund Gross Expense Ratio
1.43%
Fund Net Expense Ratio
1.42%
Number of Holdings
514
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 1.05% 4.39% 3.79% 3.08% 3.45% 2.79%
Lipper Category Avg. High Yield Municipal Debt Funds -0.20% 4.19% 3.80% 3.61% 4.64% -
Bloomberg Barclays High Yield Muni Index 1.03% 5.78% 4.89% 3.97% 5.61% -
w/ sales charge 0.05% 4.39% 3.79% 3.08% 3.45% 2.79%

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 0.68% 4.78% 3.66% 3.19% 3.55% 2.78%
Lipper Category Avg. High Yield Municipal Debt Funds -0.26% 5.02% 3.67% 3.83% 4.75% -
Bloomberg Barclays High Yield Muni Index 0.58% 6.01% 4.58% 4.06% 5.61% -
w/ sales charge -0.32% 4.78% 3.66% 3.19% 3.55% 2.78%

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

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.

Municipal Bonds: Gauging the Impact of U.S. Tax Reform
March 5, 2018

What are the possible short- and long-term effects of the legislation on the municipal market? Here is our view.

Sector Assets
IDR/PCR
Healthcare/Hospital
Special Tax
Education
GO Local
Transportation
Water & Sewer
Pre-Refunded
Lease
GO State
VRDN
Housing
Resource Recovery
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 04/30/2018

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 05/18/2018  

w/o sales charge 3.33%

30-Day Standardized Yield 2 as of 04/30/2018  

  Subsidized5 Un-Subsidized6
w/o sales charge 2.77% 2.77%

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 1.05% 4.39% 3.79% 3.08% 3.45% 2.79%
Lipper Category Avg. High Yield Municipal Debt Funds -0.20% 4.19% 3.80% 3.61% 4.64% -
Bloomberg Barclays High Yield Muni Index 1.03% 5.78% 4.89% 3.97% 5.61% -
w/ sales charge 0.05% 4.39% 3.79% 3.08% 3.45% 2.79%

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 0.68% 4.78% 3.66% 3.19% 3.55% 2.78%
Lipper Category Avg. High Yield Municipal Debt Funds -0.26% 5.02% 3.67% 3.83% 4.75% -
Bloomberg Barclays High Yield Muni Index 0.58% 6.01% 4.58% 4.06% 5.61% -
w/ sales charge -0.32% 4.78% 3.66% 3.19% 3.55% 2.78%

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% - - - 1.40%
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 04/30/2018

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

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

PORTFOLIO BREAKDOWN as of 04/30/2018

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 04/30/2018

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

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

Credit QUALITY DISTRIBUTION as of 04/30/2018

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 03/31/2018

  • 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, an overweight, and the industrial development sector, a slight underweight.
  • The portfolio has an underweight in Puerto Rico bonds, relative to the benchmark, given the economic headwinds faced by the Commonwealth.

Portfolio Details as of 04/30/2018

Total Net Assets
$2.07 B
Number of Issues
514
Average Coupon
5.1%
Average Effective Maturity
21.8 Years
Average Effective Duration
8.41 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 2.0%
Buckeye Tobacco Settlement Fin Auth 5.125% 06/01/2024 1.3%
Iowa Finance Auth - Iowa Fertilizer Co 5.250% 12/01/2025 1.3%
Jefferson County Sewer 6.500% 10/01/2053 1.1%
California Statewide - Loma Linda Univ Medical Center 5.250% 12/01/2056 1.1%
City of Chicago General Obligation 6.000% 01/01/2038 1.0%
Buckeye OH Tobacco Settlement Fin Auth 5.875% 06/01/2047 0.9%
NYS Tobacco Settlement - TSASC 5.000% 06/01/2048 0.8%
Chicago Board of Education 5.250% 12/01/2041 0.8%
Golden St Tobacco Securitization Corp. 5.750% 06/01/2047 0.8%
% of Total Assets 11.1%

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.

Holdings as of03/29/2018

Holding Coupon Maturity Assets
NY Liberty Dev Corp - 3 World Trade Ctr5.000% 11/15/20441.8%
Buckeye Tobacco Settlement Fin Auth5.125% 06/01/20241.3%
Iowa Finance Auth - Iowa Fertilizer Co5.250% 12/01/20251.3%
Jefferson County Sewer6.500% 10/01/20531.2%
California Statewide - Loma Linda Univ Medical Center5.250% 12/01/20561.1%
City of Chicago General Obligation6.000% 01/01/20381.0%
NJ Tobacco Settlement Fin Corp5.000% 06/01/20410.9%
Buckeye OH Tobacco Settlement Fin Auth5.875% 06/01/20470.9%
NJ Tobacco Settlement Fin Corp5.000% 06/01/20290.9%
NYS Tobacco Settlement - TSASC5.000% 06/01/20480.8%
Chicago Board of Education5.250% 12/01/20410.8%
Niagara Area Dev Corp - Covanta Energy5.250% 11/01/20420.8%
Golden St Tobacco Securitization Corp.5.750% 06/01/20470.8%
Lower Alabama Gas District - Goldman Sachs5.000% 09/01/20460.8%
E-470 Public Highway Authority0.000% 09/01/20310.7%
Cleveland Airport - Continental Airlines5.375% 09/15/20270.7%
Salt Verde Fin Corp - Citigroup5.000% 12/01/20370.7%
Pub Fin Auth7.000% 12/01/20500.7%
Atlanta Dev Auth7.000% 01/01/20400.7%
Golden St. Tobacco Securitization Corp5.000% 06/01/20330.6%
Chicago Brd of Ed2.410% 03/01/20360.6%
California Statewide Comntys Dev Auth5.500% 12/01/20540.6%
San Buenaventura - Comunity Memorial Health8.000% 12/01/20260.6%
Puerto Rico Sales Tax Fincg Corp5.250% 08/01/20400.5%
Genesis Hlthcare Sys, OH5.000% 02/15/20440.5%
Buckeye Tobacco Settlement Fin Auth5.875% 06/01/20300.5%
NY Transportation Dev Corp - LaGuardia Airport5.250% 01/01/20500.5%
Franklin Hlth & Edl Facs Bd7.500% 06/01/20470.5%
Ohio Air Qlty Dev Auth4.500% 01/15/20480.5%
Long Beach Bond Finance Auth5.500% 11/15/20370.5%
VA Tobacco Settlement Financing Corp5.000% 06/01/20470.5%
Golden St. Tobacco Securitization Corp5.125% 06/01/20470.5%
Iowa Fin Auth5.250% 12/01/20500.5%
Chicago Brd of Ed5.000% 12/01/20420.5%
NJ Eco Dev Auth - Continental Airlines5.250% 09/15/20290.5%
Philadelphia Hosp & Hgr Ed Fac Auth, PA5.625% 07/01/20420.5%
Massachusetts Port Auth5.500% 01/01/20220.5%
Moon Indus Dev Auth6.000% 07/01/20450.5%
Metropolitan Pier & Exposition Auth, IL5.500% 06/15/20530.5%
California Poll Cntrl Fin Auth5.000% 11/21/20450.5%
Metropolitan Pier & Exposition Auth, IL5.000% 06/15/20570.5%
Mission Econ Dev Corp, TX5.750% 10/01/20310.5%
Oklahoma Dev Fin Auth5.500% 08/15/20570.5%
Maryland Econ Dev Corp.5.000% 12/01/20310.5%
Cnty of Cuyahoga, OH5.500% 02/15/20520.4%
Buckeye Tobacco Settlement Fin Auth5.750% 06/01/20340.4%
Indiana Fin Auth5.000% 07/01/20440.4%
Foothill Eastern Trsp Corridor Agency6.000% 01/15/20530.4%
Metropolitan Pier & Exposition Auth, IL0.000% 12/15/20360.4%
Chicago Brd of Ed7.000% 12/01/20460.4%
Maryland Hlth & Hgr Ed Facs Auth5.000% 07/01/20380.4%
Frederick Cnty, MD5.000% 09/01/20450.4%
West Pace Cooperative District9.125% 05/01/20390.4%
Metropolitan Pier & Exposition Auth, IL5.000% 06/15/20500.4%
Kirkwood Indus Dev Auth8.250% 05/15/20390.4%
Chicago Brd of Ed5.250% 12/01/20390.4%
Trustees of the Tulsa Muni Arpt Tr, OK5.000% 06/01/20350.4%
Montgomery Cnty Indus Dev Auth, PA5.250% 01/15/20450.4%
Public Auth For CO Energy6.500% 11/15/20380.4%
Rhode Island Hlth & Edl Bldg Corp.5.000% 09/01/20360.4%
Howard Cnty, MD5.000% 04/01/20460.4%
Tender Option Bnd Tr Receipts/Certificates9.680% 01/01/20340.4%
Illinois, IL5.000% 01/01/20350.3%
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%
Chicago Brd of Ed5.250% 12/01/20350.3%
Mid Bay Br Auth, FL7.250% 10/01/20340.3%
Overland Park Dev Corp5.125% 01/01/20320.3%
Holmes Cnty Hosp Corp.6.000% 11/01/20380.3%
Baker Correctional Dev Corp.8.500% 02/01/20300.3%
Louisiana Local Govt Envr Facs Comnty Dev Auth6.250% 11/15/20450.3%
Philadelphia Hosp & Hgr Ed Fac Auth, PA5.625% 07/01/20360.3%
Orange Cnty Comnty Facs Dist5.000% 08/15/20460.3%
Puerto Rico Elec Pwr Auth5.250% 07/01/20400.3%
Florida Dev Fin Corp.7.500% 06/15/20330.3%
Hesperia Public Fing Auth5.000% 09/01/20310.3%
Rochester, MN7.375% 12/01/20410.3%
New York City Indl Dev Agy5.000% 07/01/20280.3%
Pub Fin Auth6.850% 10/01/20470.3%
Arkansas City Public Bldg Comm6.750% 09/01/20380.3%
Cnty of Licking, OH6.000% 07/01/20500.3%
Pub Fin Auth5.000% 07/01/20420.3%
Allegheny Cnty Indl Dev Auth, PA6.875% 05/01/20300.3%
Metropolitan Pier & Exposition Auth, IL5.000% 06/15/20530.3%
South Carolina Jobs Econ Dev Auth5.000% 11/01/20460.3%
Illinois, IL4.000% 06/01/20370.3%
Colorado Hlth Facs Auth7.750% 08/01/20290.3%
Louisiana Pub Facs Auth6.375% 12/01/20340.3%
City of Scranton, PA5.000% 11/15/20320.3%
Iowa Tobacco Settlement Auth5.375% 06/01/20380.3%
New York City Indl Dev Agy5.000% 01/01/20310.3%
Decatur Hosp Auth5.250% 09/01/20440.3%
New Jersey Econ Dev Auth5.500% 04/01/20280.3%
New Mexico Hosp Equipment Loan Council5.500% 07/01/20420.3%
Rockdale Cnty Dev Auth6.125% 01/01/20340.3%
Foothill Eastern Transportation Corridor Agency6.000% 01/15/20490.3%
Chicago Brd of Ed5.500% 12/01/20390.3%
New Jersey Econ Dev Auth5.000% 06/15/20470.3%
Puerto Rico Sales Tax Financing Corp5.250% 08/01/20410.3%
Chicago Brd of Ed6.500% 12/01/20460.3%
Pub Fin Auth6.850% 11/01/20460.3%
New Jersey Econ Dev Auth5.125% 09/15/20230.3%
Sparks Tourism Improvement District6.750% 06/15/20280.3%
New Jersey Econ Dev Auth5.625% 01/01/20520.3%
California State Pub Wks Bd5.000% 04/01/20340.3%
Jefferson Cnty, AL5.000% 10/01/20440.3%
South Carolina St Ports Auth5.250% 07/01/20550.3%
Apache County Indus Dev Auth - Tucson Electric4.500% 03/01/20300.3%
Colorado Hlth Facs Auth7.750% 08/01/20390.3%
San Joaquin Hills Transp Corridor Agy, CA5.250% 01/15/20490.3%
Detroit, MI5.250% 07/01/20410.3%
California Statewide Comntys Dev Auth5.500% 07/01/20390.3%
Kirkwood Indus Dev Auth5.250% 05/15/20500.3%
Cnty of Cuyahoga, OH5.500% 02/15/20570.3%
River Islands Public Fing Auth5.500% 09/01/20450.3%
Sacramento Cnty Tobacco Settlement Securitization5.500% 06/01/20450.3%
Chester Cnty Indus Dev Auth5.375% 10/15/20420.3%
Suffolk Tobacco Asset Securitization Corp.6.625% 06/01/20440.3%
Massachusetts Dev Fin Agy5.000% 10/01/20570.3%
California4.000% 09/01/20350.3%
Florida Dev Fin Corp.6.125% 06/15/20460.3%
Utah St Charter Sch Fin Auth5.375% 06/15/20480.3%
City of Blaine, MN6.125% 07/01/20500.3%
Golden St Tobacco Securitization Corp.5.300% 06/01/20370.3%
Northern Palm Beach Cnty Impt Dist5.000% 08/01/20460.3%
New Jersey Tpk Auth4.000% 01/01/20430.3%
West Virginia Hosp Fin Auth6.500% 10/01/20280.3%
Glendale Industrial Development Authority5.000% 11/15/20450.3%
Scranton Redev Auth5.000% 11/15/20280.2%
Metropolitan Pier & Exposition Auth, IL5.250% 06/15/20500.2%
La Vernia Higher Ed Fin Corp., TX7.250% 08/15/20310.2%
Essex Cnty Imp Auth, NJ5.250% 07/01/20450.2%
Compton Comnty Redev Agy6.000% 08/01/20420.2%
Cnty of Tuscarawas OH6.000% 03/01/20450.2%
Michigan Tobacco Settlement Fin Auth6.000% 06/01/20340.2%
St. Louis Indus Dev Auth, MO4.750% 11/15/20470.2%
Puerto Rico5.000% 07/01/20200.2%
Northern Tobacco Securitization Corp.5.000% 06/01/20320.2%
Parish of Beauregard, LA6.800% 02/01/20270.2%
Guadalupe Regional Medical Center5.000% 12/01/20400.2%
California Muni Fin Auth5.625% 03/01/20450.2%
Pub Fin Auth5.125% 06/01/20480.2%
Village Comnty Dev Dist No. 124.250% 05/01/20430.2%
Fulton Cnty Indus Dev Auth, PA5.000% 07/01/20510.2%
Village Comnty Dev Dist No. 124.375% 05/01/20500.2%
Prince George's Cnty Rev Auth5.000% 07/01/20460.2%
NJ Tobacco Settlement Fin Corp4.625% 06/01/20260.2%
NJ Tobacco Settlement Fin Corp4.750% 06/01/20340.2%
Arlington Higher Ed Fin Corp., TX5.500% 08/15/20460.2%
Valparaiso, IN7.000% 01/01/20440.2%
New York City Transitional Fin Auth1.830% 11/01/20220.2%
Gaithersburg, MD6.000% 01/01/20230.2%
Millsboro, DE5.450% 07/01/20360.2%
Buckeye Tobacco Settlement Fing Auth0.000% 06/01/20470.2%
Clifton Hgr Ed Fin Corp., TX5.750% 08/15/20450.2%
Flint Hosp Bldg Auth7.000% 07/01/20300.2%
New Jersey Transp Tr Fnd Auth0.000% 12/15/20290.2%
Illinois Fin Auth5.000% 04/01/20310.2%
Jefferson Cnty, AL0.000% 10/01/20460.2%
Inland Empire Tobacco Securitization Auth5.000% 06/01/20210.2%
Chicago, IL5.000% 01/01/20260.2%
Dorm Auth of the St of New York5.000% 01/01/20470.2%
Illinois Fin Auth5.000% 04/01/20210.2%
Maricopa Cnty Indus Dev Auth, AZ3.375% 12/01/20310.2%
Jefferson Cnty, AL0.000% 10/01/20420.2%
Allentown Neighborhood Impt Zone Dev Auth5.000% 05/01/20420.2%
Philadelphia Auth for Indus Dev5.000% 07/01/20490.2%
Michigan Strategic Fnd5.500% 06/01/20470.2%
Pima Cnty Indus Dev Auth, AZ5.000% 06/15/20470.2%
Wisconsin Hlth & Edl Facs Auth5.375% 02/01/20480.2%
Jefferson Cnty, AL0.000% 10/01/20390.2%
Antelope Valley Hlthcare Dist5.000% 03/01/20410.2%
Hosp Auth of Hall Cnty and The City of Gainesville5.500% 08/15/20540.2%
Glendale Industrial Development Authority5.000% 11/15/20400.2%
Holmes Cnty Hosp Corp.5.750% 11/01/20260.2%
Capital Region Cmnty Dev, FL7.000% 05/01/20390.2%
Maricopa Cnty Indus Dev Auth, AZ5.000% 07/01/20470.2%
Michigan Public Edl Facs Auth6.500% 09/01/20370.2%
Massachusetts Dev Fin Agy4.000% 07/01/20470.2%
Illinois Fin Auth5.000% 04/01/20230.2%
Chester County Health & Education Facilities Autho5.000% 11/01/20370.2%
Fulton Cnty Indus Dev Auth, PA5.000% 07/01/20460.2%
Michigan Tobacco Settlement Fin Auth5.250% 06/01/20220.2%
Marietta Dev Auth5.000% 11/01/20370.2%
County of Ward ND5.000% 06/01/20530.2%
New Jersey Econ Dev Auth5.500% 06/15/20290.2%
Denver Hlth and Hosp Auth, CO5.250% 12/01/20450.2%
Chester County Health & Education Facilities Autho5.000% 11/01/20460.2%
Glenville State College5.250% 06/01/20470.2%
South Carolina Jobs Econ Dev Auth5.000% 11/01/20420.2%
Chicago, IL5.000% 01/01/20380.2%
Denver City & Cnty Dept of Aviation, CO5.500% 11/15/20250.2%
Philadelphia Auth for Indus Dev6.625% 06/01/20500.2%
Illinois Fin Auth4.000% 11/15/20520.2%
Florida Dev Fin Corp.5.000% 07/15/20460.2%
Illinois Fin Auth7.250% 02/15/20450.2%
Compton, CA6.000% 08/01/20390.2%
Martin Cnty Hosp Dist7.250% 04/01/20360.2%
Inland Empire Tobacco Securitization Auth4.625% 06/01/20210.2%
Tarrant Cnty Cult Ed Facs Fin Corp, TX5.500% 11/15/20450.2%
Inland Valley Development Agency5.250% 09/01/20370.2%
Harris Cnty Cultural Ed Facs Fin Corp., TX7.000% 01/01/20430.2%
Maricopa Cnty Poll Cntrl Corp., AZ7.250% 02/01/20400.2%
Chicago, IL5.000% 01/01/20340.2%
Prairie Center Metropolitan District No 35.000% 12/15/20410.2%
California Statewide Fing Auth0.000% 06/01/20460.2%
San Joaquin Hills Transp Corridor Agy, CA5.250% 01/15/20440.2%
King Cnty Public Hosp Dist No 46.250% 12/01/20450.2%
Tobacco Settlement Fing Corp.0.000% 06/01/20470.2%
Pima Cnty Indus Dev Auth, AZ5.000% 06/15/20520.2%
Chicago, IL5.500% 01/01/20330.2%
Multnomah Cnty Hosp Facs Auth, OR5.400% 10/01/20440.2%
Illinois, IL3.500% 06/01/20290.2%
Vigo Cnty Hosp Auth8.000% 09/01/20410.2%
Wilson Cnty, KS5.600% 09/01/20360.2%
Golden St Tobacco Securitization Corp.0.000% 06/01/20470.2%
Indus Dev Auth of the Twn of Florence, Inc., AZ6.000% 07/01/20430.2%
Village of Bellwood, IL5.875% 12/01/20270.2%
Antelope Valley Hlthcare Dist5.000% 03/01/20460.2%
Tern Bay Comnty Dev Dist5.375% 05/01/20370.2%
Tarrant Cnty Cult Ed Facs Fin Corp, TX6.750% 11/15/20520.2%
Washington St Hsg Fin Comm6.750% 10/01/20470.2%
Illinois Fin Auth5.250% 05/15/20500.2%
Metropolitan Pier & Exposition Auth, IL0.000% 12/15/20540.2%
Fremont Cmnty Facs Dist No 15.000% 09/01/20450.2%
Chicago Brd of Ed5.000% 12/01/20310.2%
Pub Fin Auth4.300% 11/01/20300.2%
Houston, TX5.000% 07/15/20350.2%
Celebration Pointe Comnty Dev Dist5.000% 05/01/20480.2%
Kirkwood Indus Dev Auth8.000% 05/15/20290.2%
Kentucky Econ Dev Fin Auth5.375% 11/15/20320.2%
Greater Wenatchee Regl Events Center Pub Facs Dist5.500% 09/01/20420.2%
Village of Bellwood, IL6.150% 12/01/20320.2%
Chicago5.000% 01/01/20310.2%
Louisiana Hsg Fin Agy8.000% 09/01/20390.2%
Broward Cnty, FL5.125% 10/01/20380.2%
New York City Indl Dev Agy5.000% 01/01/20360.2%
Marietta Dev Auth5.000% 11/01/20470.2%
Illinois Fin Auth7.125% 02/01/20340.2%
Chicago, IL5.250% 01/01/20320.2%
River Islands Public Fing Auth5.500% 09/01/20450.2%
New Hope Cultural Ed Fin Corp, TX5.000% 07/01/20360.2%
Howard Cnty, MD5.000% 04/01/20440.1%
Tulsa Cnty Indus Auth5.250% 11/15/20450.1%
Upper San Juan Hlth Svcs Dist6.125% 06/01/20460.1%
Alachua Cnty Hlth Facs Auth6.250% 11/15/20440.1%
Oklahoma Dev Fin Auth5.500% 08/15/20520.1%
New Jersey Transportation Trust Fund6.000% 06/15/20350.1%
Fairfax Cnty Econ Dev Auth, VA5.000% 12/01/20420.1%
New Jersey Econ Dev Auth5.625% 11/15/20300.1%
Buckeye Tobacco Settlement Fing Auth0.000% 06/01/20520.1%
Genesis Hlthcare Sys, OH5.000% 02/15/20330.1%
Iowa Tobacco Settlement Auth5.500% 06/01/20420.1%
Illinois Fin Auth5.250% 02/15/20470.1%
Northern Palm Beach Cnty Impt Dist5.000% 08/01/20460.1%
Metropolitan Pier & Exposition Auth, IL5.000% 06/15/20520.1%
Flint Hosp Bldg Auth7.375% 07/01/20350.1%
California Statewide Comntys Dev Auth6.000% 10/01/20420.1%
Tarrant Cnty Cult Ed Facs Fin Corp, TX5.000% 10/01/20490.1%
Tarrant Cnty Cult Ed Facs Fin Corp, TX6.750% 11/15/20470.1%
New Hope Cultural Ed Fin Corp, TX5.500% 01/01/20490.1%
Chicago, IL5.250% 01/01/20280.1%
Guam Waterworks Auth5.500% 07/01/20430.1%
New York City Transitional Fin Auth1.810% 08/01/20230.1%
Tender Option Bnd Tr Receipts/Certificates10.190% 08/15/20300.1%
Pennsylvania Econ Dev Fing Auth8.000% 05/01/20290.1%
Palm Beach Cnty Hlth Facs Auth, FL7.500% 06/01/20490.1%
California Statewide Comntys Dev Auth7.250% 11/15/20410.1%
Illinois, IL4.000% 01/01/20260.1%
Pub Fin Auth5.250% 04/01/20300.1%
Chicago5.000% 07/01/20480.1%
Crawford Cnty Hosp Auth6.000% 06/01/20510.1%
San Francisco City & Cnty Redev Fing Auth, CA5.000% 08/01/20440.1%
Tobacco Settlement Fing Corp.0.000% 06/01/20520.1%
Arizona Indus Dev Auth5.000% 07/01/20510.1%
California Statewide Comntys Dev Auth5.750% 07/01/20350.1%
Florida Dev Fin Corp.6.375% 05/15/20370.1%
Woodbury Hsg & Redev Auth5.125% 12/01/20440.1%
Philadelphia Auth for Indus Dev6.500% 06/01/20450.1%
Plaza Metropolitan Dist No 15.000% 12/01/20400.1%
California Sch Fin Auth5.125% 07/01/20440.1%
Chester Cnty Indus Dev Auth5.250% 10/15/20470.1%
Michigan Tobacco Settlement Fin Auth5.125% 06/01/20220.1%
Phoenix Indus Dev Auth, AZ5.000% 07/01/20450.1%
Jefferson Cnty, AL0.000% 10/01/20280.1%
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%
Dauphin Cnty Gen Auth, PA5.125% 10/15/20410.1%
Colorado Hlth Facs Auth5.250% 05/15/20470.1%
Virginia Small Business Fing Auth5.000% 12/31/20520.1%
San Francisco City & Cnty Redev Fing Auth, CA5.000% 08/01/20390.1%
Foothill-Eastern Transp Corridor Agy, CA0.000% 01/15/20330.1%
Illinois Fin Auth6.000% 05/15/20430.1%
E-470 Pub Hwy Auth, CO0.000% 09/01/20370.1%
Foothill-Eastern Transp Corridor Agy, CA6.500% 01/15/20430.1%
Indiana Fin Auth5.000% 07/01/20350.1%
Crawford Cnty Hosp Auth6.000% 06/01/20460.1%
San Diego Cnty Tobacco Asset Securitization Corp0.000% 06/01/20460.1%
Anson Ed Facs Corp.5.000% 08/15/20450.1%
Cnty of Anne Arundel, MD6.100% 07/01/20400.1%
Puerto Rico Sales Tax Fincg Corp5.375% 08/01/20390.1%
Kansas City Land Clearance Redevelopment Authority5.000% 02/01/20500.1%
Colorado International Center Metropolitan Distric5.875% 12/01/20460.1%
Upper San Juan Hlth Svcs Dist6.000% 06/01/20410.1%
South Carolina Jobs Econ Dev Auth5.000% 11/01/20330.1%
Orange Cnty Comnty Facs Dist5.250% 08/15/20450.1%
Pub Fin Auth5.750% 11/15/20440.1%
Puerto Rico4.500% 07/01/20230.1%
Pub Fin Auth5.000% 12/01/20250.1%
Puerto Rico Aqueduct & Sewer Authority5.125% 07/01/20370.1%
Washington St Hsg Fin Comm6.500% 10/01/20320.1%
Anne Arundel Cnty Consolidated Spl Taxing Dist5.250% 07/01/20440.1%
New Jersey Econ Dev Auth5.000% 06/15/20420.1%
New Jersey Edl Facs Auth7.500% 12/01/20320.1%
Washington St Hsg Fin Comm7.000% 07/01/20500.1%
Miami World Center Comnty Dev Dist5.250% 11/01/20490.1%
Phoenix Indus Dev Auth, AZ5.000% 07/01/20350.1%
Rochester, MN6.875% 12/01/20290.1%
Frederick Cnty, MD5.000% 09/01/20370.1%
San Mateo, CA5.000% 09/01/20420.1%
Massachusetts Dev Fin Agy4.875% 11/01/20420.1%
New Jersey Econ Dev Auth5.500% 06/01/20330.1%
Woodbury Hsg & Redev Auth5.250% 12/01/20490.1%
Cumberland Cnty Muni Auth, PA6.000% 01/01/20400.1%
Maryland Econ Dev Corp.5.000% 12/01/20160.1%
Hanover Cnty Econ Dev Auth5.000% 07/01/20420.1%
Fort Bend Cnty Indus Dev Corp.4.750% 11/01/20420.1%
Cumberland Cnty Muni Auth, PA5.250% 01/01/20410.1%
West Virginia Hosp Fin Auth6.500% 10/01/20380.1%
Puerto Rico5.625% 07/01/20320.1%
Phoenix Indus Dev Auth, AZ5.000% 07/01/20460.1%
Hanover Cnty Econ Dev Auth5.000% 07/01/20470.1%
New Hope Cultural Ed Fin Corp, TX5.000% 07/01/20460.1%
Washington St Hsg Fin Comm5.000% 07/01/20510.1%
Inland Empire Tobacco Securitization Auth0.000% 06/01/20570.1%
Chicago, IL5.000% 01/01/20400.1%
Arizona Indus Dev Auth5.000% 07/01/20220.1%
Virgin Islands Pub Fin Auth5.000% 10/01/20290.1%
South Jersey Port Corp, NJ5.000% 01/01/20480.1%
Kirkwood Indus Dev Auth5.250% 05/15/20420.1%
District of Columbia, DC5.000% 07/01/20520.1%
Maryland Econ Dev Corp.5.250% 12/01/20310.1%
Southeastern Ohio Port Auth6.000% 12/01/20420.1%
California Statewide Comntys Dev Auth5.250% 11/15/20340.1%
City of Rockville MD5.000% 11/01/20420.1%
New York City Transitional Fin Auth1.810% 11/01/20220.1%
Michigan Public Edl Facs Auth8.750% 09/01/20390.1%
Red River Hlth Facs Dev Corp.7.750% 11/15/20440.1%
Salem Hosp Fac Auth6.000% 05/15/20470.1%
Gainesville & Hall Cnty Dev Auth5.000% 03/01/20470.1%
California State Pub Wks Bd5.750% 10/01/20310.1%
Puerto Rico Sales Tax Fincg Corp5.500% 08/01/20400.1%
Idaho Hlth Facs Auth5.000% 09/01/20300.1%
City of Aurora, IL6.500% 12/30/20230.1%
Upper Illinois River Vly Dev Auth7.375% 11/15/20450.1%
San Mateo, CA5.500% 09/01/20440.1%
South Jersey Port Corp, NJ5.000% 01/01/20420.1%
City of Rockville MD5.000% 11/01/20470.1%
Iowa Higher Ed Loan Auth5.000% 10/01/20370.1%
Harris Cnty Cultural Ed Facs Fin Corp., TX5.125% 01/01/20480.1%
Michigan Strategic Fnd5.250% 06/01/20320.1%
IA Finance Auth - Alcoa4.750% 08/01/20420.1%
Dutchess Cnty Local Dev Corp., NY6.000% 10/01/20300.1%
Build NYC Resource Corp., NY5.000% 01/01/20350.1%
Glendale Industrial Development Authority5.000% 11/15/20360.1%
Dorm Auth of the St of New York5.000% 11/01/20310.1%
Rumford, ME6.875% 10/01/20260.1%
Kansas City Land Clearance Redevelopment Authority5.000% 02/01/20400.1%
Connecticut Hlth & Educl Facs Auth5.000% 09/01/20530.1%
Wisconsin Hlth & Edl Facs Auth5.000% 08/01/20390.1%
Washington St Hsg Fin Comm7.000% 07/01/20450.1%
Glenville State College5.000% 06/01/20370.1%
California Statewide Comntys Dev Auth5.750% 07/01/20240.1%
Tempe Industrial Development Authority6.125% 10/01/20520.1%
Philadelphia Auth for Indus Dev5.000% 07/01/20420.1%
Wisconsin Hlth & Edl Facs Auth5.000% 08/01/20320.1%
Spanish Fort Cooperative Dist9.000% 02/01/20290.1%
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%
Rockland Tobacco Asset Securitization Corp0.000% 08/15/20600.1%
Eaton Area Park & Recreation Dist5.250% 12/01/20340.1%
Valparaiso, IN5.875% 01/01/20240.1%
Puerto Rico Sales Tax Fincg Corp5.500% 08/01/20420.1%
Clackamas Cnty Hosp Facs Auth, OR5.000% 11/15/20470.1%
Gainesville & Hall Cnty Dev Auth5.125% 03/01/20520.1%
Indiana Fin Auth7.000% 10/01/20390.1%
NJ Eco Dev Auth - Goethals Bridge5.375% 01/01/20430.1%
Metropolitan Pier & Exposition Auth, IL0.000% 06/15/20470.1%
Upper Illinois River Vly Dev Auth7.250% 11/15/20400.1%
Massachusetts Dev Fin Agy5.000% 10/01/20430.1%
Ohio Air Qlty Dev Auth4.250% 01/15/20380.1%
Yonkers Econ Dev Corp., NY6.000% 10/15/20300.1%
Tempe Industrial Development Authority6.000% 10/01/20370.1%
Puerto Rico5.000% 07/01/20230.1%
Finance Authority of Maine4.375% 08/01/20350.1%
Puerto Rico Sales Tax Fincg Corp5.000% 08/01/20240.1%
Puerto Rico Sales Tax Fincg Corp5.500% 08/01/20280.1%
San Diego Cnty Tobacco Asset Securitization Corp0.000% 06/01/20460.1%
Houston Cnty Cooperative Dist10.000% 05/01/20390.1%
Chicago Brd of Ed6.750% 12/01/20300.1%
Southeastern Ohio Port Auth5.500% 12/01/20430.1%
Alachua Cnty Hlth Facs Auth8.000% 10/01/20460.1%
Red River Hlth Facs Dev Corp.8.000% 11/15/20490.1%
City of Aurora, IL6.750% 12/30/20270.1%
Puerto Rico Electric Power Authority5.750% 07/01/20360.1%
Frederick Cnty, MD5.000% 09/01/20320.1%
Puerto Rico Hwy & Transp Auth5.000% 07/01/20200.1%
Silicon Vly Tobacco Securitization Auth0.000% 06/01/20560.1%
Foothill-Eastern Transp Corridor Agy, CA5.750% 01/15/20460.1%
Clifton Hgr Ed Fin Corp., TX6.000% 08/15/20430.1%
Port of Seattle Indus Dev Corp., WA5.000% 04/01/20300.1%
Cook Cnty, IL5.000% 11/15/20350.1%
California Statewide Comntys Dev Auth6.000% 10/01/20470.1%
Lancaster Cnty Hosp Auth, PA5.250% 07/01/20410.1%
California Statewide Comntys Dev Auth5.625% 10/01/20320.1%
Lancaster Cnty Hosp Auth, PA5.125% 07/01/20370.1%
Alachua Cnty Hlth Facs Auth6.375% 11/15/20490.1%
Pub Fin Auth5.250% 05/15/20470.1%
California Statewide Comntys Dev Auth7.000% 11/15/20290.1%
New York City General Obligation1.730% 06/01/20440.1%
Salem Hosp Fac Auth5.625% 05/15/20320.1%
Clackamas Cnty Hosp Facs Auth, OR5.000% 11/15/20520.1%
Puerto Rico Sales Tax Financing Corp5.750% 08/01/20370.1%
Southlands Metropolitan District No 15.000% 12/01/20470.1%
City of Scranton, PA5.000% 09/01/20290.1%
Fairfax Cnty Econ Dev Auth, VA5.000% 12/01/20320.1%
Village Comnty Dev Dist No 106.000% 05/01/20440.1%
Massachusetts Dev Fin Agy5.000% 10/01/20470.1%
Pennsylvania Econ Dev Fing Auth5.500% 11/01/20440.1%
Antelope Valley Hlthcare Dist5.250% 03/01/20360.1%
Chicago, IL5.500% 01/01/20370.1%
Idaho Hlth Facs Auth5.000% 09/01/20370.1%
Anne Arundel Cnty Consolidated Spl Taxing Dist5.125% 07/01/20360.1%
Washington St Hsg Fin Comm5.000% 07/01/20460.1%
South Carolina Jobs Econ Dev Auth5.000% 11/01/20370.1%
Chester Cnty Indus Dev Auth5.125% 10/15/20370.1%
Colorado Hlth Facs Auth5.250% 01/01/20370.1%
Washington St Hsg Fin Comm5.000% 07/01/20360.1%
Metropolitan Pier & Exposition Auth, IL0.000% 12/15/20520.1%
Mesquite Hlth Facs Dev Corp., TX5.125% 02/15/20420.1%
Arizona Indus Dev Auth5.000% 07/01/20470.1%
Illinois, IL4.500% 11/01/20390.1%
Washington St Hsg Fin Comm5.000% 07/01/20410.1%
Connecticut Hlth & Educl Facs Auth5.000% 09/01/20460.0%
Pub Fin Auth0.000% 10/01/20420.0%
Puerto Rico Elec Pwr Auth5.000% 07/01/20420.0%
Cnty of Anne Arundel, MD5.625% 07/01/20250.0%
Flint Hosp Bldg Auth7.500% 07/01/20390.0%
Arborwood Comnty Dev Dist6.900% 05/01/20360.0%
Plymouth Edl Ctr Charter Sch, MI5.375% 11/01/20300.0%
Alachua Cnty Hlth Facs Auth8.000% 10/01/20420.0%
Colorado Hlth Facs Auth5.250% 05/15/20370.0%
Puerto Rico Elec Pwr Auth5.050% 07/01/20420.0%
Illinois Fin Auth7.000% 11/15/20270.0%
Florida Dev Fin Corp.2.902% 05/15/20370.0%
Northern Palm Beach Cnty Impt Dist5.000% 08/01/20370.0%
Eaton Area Park & Recreation Dist5.500% 12/01/20300.0%
Idaho Hlth Facs Auth5.000% 09/01/20290.0%
Puerto Rico Sales Tax Fincg Corp6.125% 08/01/20290.0%
Sparks, NV6.750% 09/01/20270.0%
Michigan Public Edl Facs Auth7.000% 10/01/20360.0%
Arborwood Comnty Dev Dist6.900% 05/01/20250.0%
Monroe Tobacco Asset Securitization Corp0.000% 06/01/20610.0%
Puerto Rico Sales Tax Fincg Corp5.000% 08/01/20430.0%
Kirkwood Indus Dev Auth8.000% 05/15/20210.0%
California Muni Fin Auth5.250% 08/15/20390.0%
Puerto Rico Elec Pwr Auth5.500% 07/01/20380.0%
Houston Cnty Cooperative Dist12.500% 06/07/20130.0%
Cook Cnty, IL5.000% 11/15/20340.0%
Tobacco Settlement Fing Corp.0.000% 06/01/20470.0%
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%
TSASC, Inc.5.000% 06/01/20360.0%
Puerto Rico Hwy & Transp Auth5.000% 07/01/20220.0%
Magnolia West Comnty Dev Dist5.350% 05/01/20370.0%
Orange Grove Cmty Dev Dist5.300% 11/01/20210.0%
Maine Hlth & Hgr Edl Facs Auth6.750% 07/01/20360.0%
Chicago, IL5.500% 01/01/20420.0%
Maine Hlth & Hgr Edl Facs Auth6.000% 07/01/20260.0%
Durbin Crossing Cmnty Dev Dist5.500% 05/01/20370.0%
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%
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%

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 05/18/2018
$0.132
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
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 05/31/2018
Daily Daily 06/30/2018
Daily Daily 07/31/2018
Daily Daily 08/31/2018
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 04/30/2018

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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