HYMOX | High Yield Municipal Bond Fund Class F3 | Lord Abbett
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High Yield Municipal Bond Fund

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.

2019 Tax-Exempt #1 for 2019_Barrons Ranking

Yields

Dividend Yield 1 as of 10/23/2020  

w/o sales charge 3.82%

30 Day Standardized yield 2 as of 09/30/2020  

3.28%

Fund Basicsas of 09/30/2020

Total Net Assets
$3.27 B
Inception Date
04/05/2017
Dividend Frequency
Monthly
Fund Expense Ratio
0.55%
Number of Holdings
605

Fund Expense Ratio :

0.55%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -0.82% 0.14% 5.05% 5.41% 5.20% -
Lipper Category Avg. High Yield Municipal Debt Funds -0.34% 0.40% 3.81% 4.18% 4.83% -
Bloomberg Barclays High Yield Municipal Bond Index 0.37% 1.27% 5.82% 6.00% 5.97% -

Fund Expense Ratio :

0.55%

Fund Expense Ratio :

0.55%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -0.82% 0.14% 5.05% 5.41% 5.20% -
Lipper Category Avg. High Yield Municipal Debt Funds -0.34% 0.40% 3.81% 4.18% 4.83% -
Bloomberg Barclays High Yield Municipal Bond Index 0.37% 1.27% 5.82% 6.00% 5.97% -

Fund Expense Ratio :

0.55%

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Municipal Bond Insights and Charts: Seeking Value in High Yield Munis
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Sector Assets
IDR/PCR
Healthcare/Hospital
Special Tax
Education
Lease
GO Local
Transportation
Water & Sewer
Power
Housing
VRDN
GO State
Pre-Refunded
Other
Maturity Assets
<1 Year
1-5 Years
5-10 Years
10-15 Years
15-20 Years
20-25 Years
25-30 Years
>30 Years

Credit Quality Distribution as of 09/30/2020

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

INVESTMENT TEAM

Daniel S. Solender
Daniel S. Solender, CFA

Partner & Director

33 Years of Industry Experience

Gregory M. Shuman
Gregory M. Shuman, CFA

Managing Director, Portfolio Manager

10 Years of Industry Experience

Supported By 15 Investment Professionals with 14 Years Avg. Industry Experience

Contact a Representative

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

Performance

Performance

Dividend Yield 1 as of 10/23/2020  

w/o sales charge 3.82%

30-Day Standardized Yield 2 as of 09/30/2020  

  Subsidized5 Un-Subsidized6
w/o sales charge 3.28% 3.28%

Fund Expense Ratio :

0.55%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -0.82% 0.14% 5.05% 5.41% 5.20% -
Lipper Category Avg. High Yield Municipal Debt Funds -0.34% 0.40% 3.81% 4.18% 4.83% -
Bloomberg Barclays High Yield Municipal Bond Index 0.37% 1.27% 5.82% 6.00% 5.97% -

Fund Expense Ratio :

0.55%

Fund Expense Ratio :

0.55%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -0.82% 0.14% 5.05% 5.41% 5.20% -
Lipper Category Avg. High Yield Municipal Debt Funds -0.34% 0.40% 3.81% 4.18% 4.83% -
Bloomberg Barclays High Yield Municipal Bond Index 0.37% 1.27% 5.82% 6.00% 5.97% -

Fund Expense Ratio :

0.55%

Year Fund Returns Bloomberg Barclays High Yield Municipal Bond Index
2019 11.65% 10.68%
2018 4.12% 4.76%
2017 7.52% 9.69%
2016 2.90% 2.99%
2015 3.81% 1.81%
2014 14.64% 13.85%
2013 -6.86% -5.51%
2012 18.34% 18.14%
2011 4.68% 9.25%
2010 -2.28% 7.80%
Year Q1 Q2 Q3 Q4 Yearly Returns
2020 -7.31% 4.43% 2.47% - -1.06%
2019 4.24% 3.22% 2.78% 0.97% 11.65%
2018 0.89% 2.77% 0.69% -0.27% 4.12%
2017 2.75% 2.00% 2.03% 0.55% 7.52%
2016 2.44% 4.45% 1.19% -4.96% 2.90%
2015 1.53% -1.01% 1.25% 2.01% 3.81%
2014 5.27% 4.14% 2.63% 1.89% 14.64%
2013 1.62% -5.16% -3.33% -0.03% -6.86%
2012 6.94% 3.33% 3.80% 3.17% 18.34%
2011 -1.65% 5.30% 1.59% -0.51% 4.68%
2010 - - - -5.18% -2.28%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

PORTFOLIO BREAKDOWN as of 09/30/2020

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

PORTFOLIO BREAKDOWN as of 09/30/2020

Maturity Assets
<1 Year
1-5 Years
5-10 Years
10-15 Years
15-20 Years
20-25 Years
25-30 Years
>30 Years

PORTFOLIO BREAKDOWN as of 09/30/2020

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

Credit QUALITY DISTRIBUTION as of 09/30/2020

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

Portfolio Positioning as of 06/30/2020

  • Although primarily invested in non-investment-grade bonds, the Fund has an overweight in ‘A’ and ‘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 attractive risk-adjusted income and greater liquidity relative to below investment-grade bonds.
  • The Fund is overweight the industrial development sector which stands to benefit from better-than-expected corporate earnings and the Federal Reserve’s support for the corporate bond market.
  • While high yield municipals are generally comprised of revenue bond issuers, the market will still be monitoring state and local municipalities that have seen revenues decline in the economic downturn due to individuals’ ability to defer their tax payments for several months. Despite these headwinds, municipalities have been cutting expenses and taking steps to remain financially healthy.

Portfolio Details as of 09/30/2020

Total Net Assets
$3.27 B
Number of Issues
605
Average Coupon
4.7%
Average Effective Maturity
23.8 Years
Average Effective Duration
10.02 Years

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 10/23/2020
$0.349
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 09/30/2020 $0.03835 $12.12
Daily Daily 08/31/2020 $0.03762 $12.18
Daily Daily 07/31/2020 $0.03867 $12.20
Daily Daily 06/30/2020 $0.03789 $11.94
Daily Daily 05/31/2020 $0.03909 $11.47
Daily Daily 04/30/2020 $0.03935 $11.09
Daily Daily 03/31/2020 $0.03921 $11.55
Daily Daily 02/29/2020 $0.03938 $13.12
Daily Daily 01/31/2020 $0.03981 $12.83

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 10/31/2020
Daily Daily 11/30/2020
Daily Daily 12/31/2020

Fees & Expenses

Fees & Expenses

Expense Ratioas of 09/30/2020

0.55%

Fund Documents

Fund Documents

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Summary 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
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Publish Date:11/03/2015

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Class F3 - The inception date for Class F3 shares is April 4, 2017. The performance quotations for Class F3 are based on the following methods of calculation: (a) for periods prior to April 4, 2017,  a figure is used based on the historical performance of the Fund’s Class I Shares, since inception, restated to reflect all charges and fees applicable to Class F3 shares; and (b) for periods after April 4, 2017, actual Class F3 performance is used, which reflects all charges and fees applicable to Class F3 shares.

Class F3 shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

The Bloomberg Barclays High Yield Municipal Bond Index is an unmanaged index consisting of noninvestment-grade, unrated or below Ba1 bonds. 

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