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Income Fund

Daily price w/o sales charge as of 01/23/2020

$2.95

arrowUp$0.01

YTD Returns w/o sales charge as of 01/23/2020

1.62%

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 Income Fund?

The Fund seeks to deliver a high level of current income by investing primarily in a wide range of investment grade fixed income securities.

FOCUS ON CORPORATE CREDIT

The investment team focuses on corporate bonds, diversified with select mortgage, high yield and non-U.S. securities to provide the opportunity for attractive total return.

BUILT ON INTENSIVE RESEARCH

The strategy employs quantitative and fundamental research to drive sector rotation and security selection.

IDENTIFY INCOME

The investment process identifies fixed-income sectors and securities with attractive valuations to provide the opportunity to deliver income.

Yield

Dividend Yield 1 as of 01/23/2020  

w/o sales charge 3.86%

30-Day Standardized Yield 2 as of 12/31/2019  

3.09%

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

Fund Basicsas of 12/31/2019

Total Net Assets
$2.75 B
Inception Date
04/05/2017
Dividend Frequency
Monthly
Fund Expense Ratio
0.48%
Number of Holdings
670

Fund Expense Ratio :

0.48%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 13.22% 13.22% 5.82% 4.67% 6.22% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated 13.08% 13.08% 5.26% 4.00% 5.28% -
Bloomberg Barclays U.S. Credit Bond Index 13.80% 13.80% 5.75% 4.39% 5.32% -

Fund Expense Ratio :

0.48%

Fund Expense Ratio :

0.48%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 13.22% 13.22% 5.82% 4.67% 6.22% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated 13.08% 13.08% 5.26% 4.00% 5.28% -
Bloomberg Barclays U.S. Credit Bond Index 13.80% 13.80% 5.75% 4.39% 5.32% -

Fund Expense Ratio :

0.48%

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 for future results.

Type Assets
Investment Grade Corporate
High Yield Corporate
U.S. Government Related
ABS
Bank Loans
CMBS
Sovereign
MBS
Other
Cash

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

Maturity Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

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

Credit Quality Distribution as of 12/31/2019 View Portfolio

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB
Not Rated

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

INVESTMENT TEAM

Andrew H. O'Brien
Andrew H. O'Brien, CFA

Partner & Portfolio Manager

21 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

25 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

18 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

28 Years of Industry Experience

Yoana N. Koleva
Yoana N. Koleva, CFA

Managing Director & Portfolio Manager

16 Years of Industry Experience

Eric P. Kang
Eric P. Kang

Portfolio Manager

20 Years of Industry Experience

Supported By 62 Investment Professionals with 16 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 01/23/2020  

w/o sales charge 3.86%

30-Day Standardized Yield 2 as of 12/31/2019  

  Subsidized5 Un-Subsidized6
w/o sales charge 3.09% 3.09%

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

Fund Expense Ratio :

0.48%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 13.22% 13.22% 5.82% 4.67% 6.22% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated 13.08% 13.08% 5.26% 4.00% 5.28% -
Bloomberg Barclays U.S. Credit Bond Index 13.80% 13.80% 5.75% 4.39% 5.32% -

Fund Expense Ratio :

0.48%

Fund Expense Ratio :

0.48%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 13.22% 13.22% 5.82% 4.67% 6.22% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated 13.08% 13.08% 5.26% 4.00% 5.28% -
Bloomberg Barclays U.S. Credit Bond Index 13.80% 13.80% 5.75% 4.39% 5.32% -

Fund Expense Ratio :

0.48%

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 for future results.

Year Fund Returns Bloomberg Barclays U.S. Credit Bond Index
2019 13.22% 13.80%
2018 -2.41% -2.11%
2017 7.25% 6.18%
2016 9.06% 5.63%
2015 -2.81% -0.77%
2014 7.54% 7.53%
2013 0.57% -2.01%
2012 12.84% 9.37%
2011 6.85% 8.35%
2010 11.58% 8.47%
2009 30.90% -
2008 -10.13% -
2007 7.07% -
2006 - -
Year Q1 Q2 Q3 Q4 Yearly Returns
2020 - - - - 1.62%
2019 5.27% 3.61% 2.44% 1.34% 13.22%
2018 -1.42% -0.69% 0.74% -1.06% -2.41%
2017 2.05% 2.38% 1.32% 1.31% 7.25%
2016 3.14% 4.44% 2.83% -1.53% 9.06%
2015 1.90% -1.65% -2.02% -1.01% -2.81%
2014 3.79% 3.71% -0.11% 0.01% 7.54%
2013 1.28% -3.45% 1.00% 1.84% 0.57%
2012 3.85% 1.36% 4.77% 2.32% 12.84%
2011 2.10% 2.42% -0.36% 2.55% 6.85%
2010 3.83% 1.88% 5.48% 0.00% 11.58%
2009 3.23% 12.96% 9.72% 2.32% 30.90%
2008 1.27% 0.26% -5.95% -5.90% -10.13%
2007 1.26% -0.76% 3.25% 3.19% 7.07%
2006 - - - 0.86% -

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

Type Assets
Investment Grade Corporate
High Yield Corporate
U.S. Government Related
ABS
Bank Loans
CMBS
Sovereign
MBS
Other
Cash

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

Maturity Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

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

Credit Quality Distribution as of 12/31/2019

Rating Assets
U.S. Treasury
Agency
AAA
AA
A
BBB
<BBB
Not Rated

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

Portfolio Positioning as of 12/31/2019

  • While the financials sector continues to be the largest absolute position, we reduced the portfolio’s exposure during the fourth quarter, specifically taking down the portfolio’s allocation to financial companies located within the U.K. and Europe. As the market has begun to come to terms with ‘Brexit,’ we were able to capitalize on favorable trades.
  • We increased the portfolio’s exposure to high yield corporate bonds, primarily focusing on opportunities within the energy sector. We are attracted to high yield corporate bonds within the energy sector that have seen significant spread widening during the quarter. We increased the portfolio’s allocation to take advantage of the relative value opportunities and potential spread compression in the upcoming months.
  • Although we still generally consider the consumer, non-cyclicals sector to be fairly valued and faced with event risks, we have identified select opportunities that led to a reduction in the portfolio’s notable underweight. Within the consumer, non-cyclicals sector, we increased the portfolio’s allocation to a few health care and pharmaceutical names, taking advantage of idiosyncratic opportunities that we found attractive.
  • Relative to the benchmark, the portfolio is overweight the utilities sector. We continue remain attracted to this defensive sector, as we believe securities within this sector offer attractive yield opportunities while mitigating downside risk due to their non-cyclical nature and their subjection to heavy regulations, which limit leverage.

Portfolio Details as of 12/31/2019

Total Net Assets
$2.75 B
Number of Issues
670
Average Coupon
4.78%
Average Life
8.56 Years
Average Maturity
8.56 Years
Average Effective Duration
6.24 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 Life - Measures how long it will take, on average, to receive the repayment of the principal amount on a debt security.  Average life is often used in connection with mortgage-backed securities as a measurement of the length of time, on average, before the underlying mortgages are paid, refinanced, or otherwise retired.

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
U.S. Treasury Note/Bond 1.750% 12/31/2024 2.3%
U.S. Treasury Note/Bond 1.500% 11/30/2024 1.4%
U.S. Treasury Note/Bond 1.750% 11/15/2029 1.4%
Verizon Communications, Inc. 3.258% 05/15/2025 1.4%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl 4.700% 02/01/2036 1.3%
Japan Treasury Discount Bill 0.000% 01/08/2020 1.2%
U.S. Treasury Note 0.500% 04/15/2024 1.0%
AbbVie, Inc. 4.250% 11/21/2049 0.9%
CVS Caremark Corp. 4.300% 03/25/2028 0.9%
AT&T, Inc. 6.000% 08/15/2040 0.9%
% of Total Assets 12.7%
Holding Coupon Maturity Assets
U.S. Treasury Note/Bond1.500% 11/30/20244.2%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl4.700% 02/01/20361.3%
U.S. Treasury Note/Bond1.750% 11/15/20291.3%
Japan Treasury Discount Bill0.000% 01/08/20201.3%
AT&T, Inc.6.000% 08/15/20401.1%
Verizon Communications, Inc.3.258% 05/15/20251.0%
CVS Caremark Corp.4.300% 03/25/20281.0%
General Motors Co.6.750% 04/01/20460.8%
Tencent Holdings Ltd.3.595% 01/19/20280.7%
Time Warner Cable LLC7.300% 07/01/20380.7%
HCA, Inc.5.125% 06/15/20390.6%
Ford Motor Co.7.450% 07/16/20310.6%
AT&T, Inc.6.250% 03/29/20410.6%
BAT Capital Corp4.390% 08/15/20370.6%
NBCUniversal Enterprise, Inc.5.250% 06/19/20990.6%
Goldman Sachs Group, Inc.6.750% 10/01/20370.6%
UBS AG Registered Shares5.125% 05/15/20240.6%
Universal Health Services, Inc.4.750% 08/01/20220.5%
ENI SpA5.700% 10/01/20400.5%
Helmerich & Payne, Inc.4.650% 03/15/20250.5%
Citigroup, Inc.3.887% 01/10/20280.5%
CVS Caremark Corp.4.780% 03/25/20380.5%
VEREIT Operating Partnership L.P.4.875% 06/01/20260.5%
Danske Bank A/S5.375% 01/12/20240.5%
General Electric Co.5.000% 12/31/20990.5%
Syngenta Wilmington, Inc.0.000% 12/10/20190.5%
Valero Energy Corp.10.500% 03/15/20390.5%
Energy Transfer Partners L.P.0.000% 12/02/20190.5%
Bank of Ireland Group PLC4.125% 09/19/20270.5%
Dell International LLC / EMC Corp.8.350% 07/15/20460.5%
DPL, Inc.4.350% 04/15/20290.5%
PSEG Power LLC8.625% 04/15/20310.5%
Broadcom Corp. / Broadcom Cayman Finance Ltd.3.875% 01/15/20270.5%
AT&T, Inc.3.616% 06/12/20240.5%
EPR Properties4.950% 04/15/20280.4%
Wabtec Corp.4.700% 09/15/20280.4%
Bacardi Ltd.4.700% 05/15/20280.4%
Sabine Pass Liquefaction LLC5.625% 04/15/20230.4%
Apache Corp.5.100% 09/01/20400.4%
Patterson-UTI Energy, Inc.3.950% 02/01/20280.4%
Bermuda Government International Bond3.717% 01/25/20270.4%
Cox Communications, Inc.8.375% 03/01/20390.4%
Nvent Finance Sarl4.550% 04/15/20280.4%
Las Vegas Sands Corp.3.900% 08/08/20290.4%
Bank of America Corp.4.450% 03/03/20260.4%
Aircastle Ltd.4.250% 06/15/20260.4%
Wells Fargo Capital X5.950% 12/15/20360.4%
NRG Energy, Inc.4.450% 06/15/20290.4%
NXP BV / NXP Funding LLC4.625% 06/01/20230.4%
Continental Resources, Inc.5.000% 09/15/20220.4%
Energy Transfer Operating LP6.125% 12/15/20450.4%
Harris Corp.4.400% 06/15/20280.4%
UBS AG7.625% 08/17/20220.4%
Sabine Pass Liquefaction LLC5.875% 06/30/20260.4%
Bank of America Corp.3.824% 01/20/20280.4%
Newmont Mining Corp.3.700% 03/15/20230.4%
Macquarie Group Ltd.4.654% 03/27/20290.4%
Catholic Health Initiatives3.347% 10/01/20290.4%
CNH Capital LLC4.375% 04/05/20220.4%
Royal Caribbean Cruises Ltd.7.500% 10/15/20270.4%
Boston Scientific Corp.0.000% 12/03/20190.4%
Baidu, Inc.3.875% 09/29/20230.3%
Teachers Insurance & Annuity Association of Americ4.900% 09/15/20440.3%
Park Aerospace Holdings Ltd5.500% 02/15/20240.3%
TransAlta Corp.4.500% 11/15/20220.3%
Pentair Finance SA0.000% 12/02/20190.3%
Canadian Natural Resources Ltd.7.200% 01/15/20320.3%
MPLX L.P.5.250% 01/15/20250.3%
Occidental Petroleum Corp.7.875% 09/15/20310.3%
Mylan, Inc.0.000% 12/02/20190.3%
Navient Corp.6.750% 06/25/20250.3%
Prosus NV6.000% 07/18/20200.3%
NGPL Pipeco LLC4.875% 08/15/20270.3%
FMC Corp.0.000% 12/27/20190.3%
FirstEnergy Transmission LLC4.550% 04/01/20490.3%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.3%
CNO Financial Group, Inc.5.250% 05/30/20250.3%
GE Capital International Funding Co.4.418% 11/15/20350.3%
Discover Bank4.682% 08/09/20280.3%
Fresenius Medical Care US Finance II, Inc.5.875% 01/31/20220.3%
Dell International LLC / EMC Corp6.020% 06/15/20260.3%
U.S. Treasury Note/Bond2.250% 08/15/20490.3%
MPLX L.P.3.202% 09/09/20220.3%
Morgan Stanley3.875% 01/27/20260.3%
Hilcorp Energy L.P. / Hilcorp Finance Co.6.250% 11/01/20280.3%
Protective Life Corp.8.450% 10/15/20390.3%
CRH America Finance, Inc.3.950% 04/04/20280.3%
North Texas Tollway Auth8.910% 02/01/20300.3%
Dollar Tree, Inc.4.200% 05/15/20280.3%
Freeport-McMoRan, Inc.5.450% 03/15/20430.3%
Motiva Enterprises LLC5.750% 01/15/20200.3%
Trimble Navigation Ltd.4.900% 06/15/20280.3%
Centene Corp.4.625% 12/15/20290.3%
CNAC HK Finbridge Co Ltd3.000% 07/19/20200.3%
Santander UK plc7.950% 10/26/20290.3%
AerCap Ireland Capital Ltd.3.500% 01/15/20250.3%
Carnival plc7.875% 06/01/20270.3%
Universal Health Services, Inc.5.000% 06/01/20260.3%
Aon plc8.205% 01/01/20270.3%
Air Lease Corp.3.625% 04/01/20270.3%
National Fuel Gas Co.3.750% 03/01/20230.3%
SOUND POINT CLO XVII3.566% 10/20/20300.3%
Federal Home Loan Mortgage Corp.4.000% 10/01/20490.3%
BX Commercial Mortgage Trust 2019-XL3.215% 10/15/20360.3%
Vistra Operations Co LLC4.300% 07/15/20290.3%
PVH Corp.7.750% 11/15/20230.3%
Williams Cos., Inc.8.750% 03/15/20320.3%
Imperial Tobacco Finance plc3.875% 07/26/20290.3%
Netflix, Inc.3.625% 05/15/20270.3%
New York and Presbyterian Hospital/The3.954% 08/01/21190.3%
Anglo American Capital plc4.750% 04/10/20270.3%
Shackleton 2019-XIV Clo Ltd4.178% 07/20/20300.3%
American Airlines Class B Pass Through Trust4.375% 10/01/20220.3%
PerkinElmer, Inc.3.300% 09/15/20290.2%
Sabine Pass Liquefaction LLC5.750% 05/15/20240.2%
Time Warner Entertainment Co. L.P.8.375% 07/15/20330.2%
Global Atlantic Fin Co4.400% 10/15/20290.2%
BX Commercial Mortgage Trust 2019-XL3.765% 10/15/20360.2%
Wyndham Hotels & Resorts3.972% 03/28/20250.2%
International Paper Co.7.300% 11/15/20390.2%
Cleco Power LLC6.000% 12/01/20400.2%
Fidelity National Financial Group4.500% 08/15/20280.2%
Glencore Finance Canada Ltd.5.550% 10/25/20420.2%
IFM US Colonial Pipeline 2 LLC6.450% 05/01/20210.2%
The Royal Bank of Scotland Group PLC3.875% 09/12/20230.2%
National Australia Bank Ltd.3.933% 08/02/20340.2%
ZF North America Capital, Inc.4.750% 04/29/20250.2%
Kinross Gold Corp.4.500% 07/15/20270.2%
Fresenius Medical Care US Finance II, Inc.4.750% 10/15/20240.2%
Midwest Connector Capital Co LLC3.900% 04/01/20240.2%
El Paso Electric Co.5.000% 12/01/20440.2%
American Homes 4 Rent LP4.250% 02/15/20280.2%
Assurant, Inc.3.700% 02/22/20300.2%
Brixmor Operating Partnership L.P.3.850% 02/01/20250.2%
BX Commercial Mortgage Trust 2019-XL3.565% 10/15/20360.2%
Jabil, Inc.0.000% 02/24/20200.2%
Halliburton Co.7.450% 09/15/20390.2%
Equinix, Inc.5.375% 05/15/20270.2%
Neuberger Berman Group LLC4.875% 04/15/20450.2%
ALM VII Ltd3.851% 07/15/20290.2%
People's United Financial, Inc.3.650% 12/06/20220.2%
Citigroup, Inc.3.668% 07/24/20280.2%
Newell Rubbermaid, Inc.0.000% 12/17/20190.2%
PG&E Corp3.875% 04/27/20210.2%
Cheniere Corpus Christi Holdings LLC7.000% 06/30/20240.2%
Broadcom Inc3.625% 10/15/20240.2%
Dominion Resources, Inc.7.000% 06/15/20380.2%
Bayer US Finance II LLC3.875% 12/15/20230.2%
Bombardier, Inc.6.125% 01/15/20230.2%
Bayer US Finance II LLC4.375% 12/15/20280.2%
Smithfield Foods, Inc.5.200% 04/01/20290.2%
Enel Finance International N.V.2.750% 04/06/20230.2%
MEG Energy Corp.7.000% 03/31/20240.2%
Webster Financial Corp.4.100% 03/25/20290.2%
Capital Auto Receivables Asset Trust 2018-12.790% 01/20/20220.2%
GATX Corp.4.550% 11/07/20280.2%
SCANA Corp.4.125% 02/01/20220.2%
Cleco Corp.4.973% 05/01/20460.2%
SemGroup Corp.6.375% 03/15/20250.2%
Alibaba Group Holding Ltd.3.400% 12/06/20270.2%
Hess Corp.5.800% 04/01/20470.2%
AXIS Specialty Finance LLC3.900% 07/15/20290.2%
Lloyds Bank plc6.500% 09/14/20200.2%
Cimarex Energy Co.4.375% 03/15/20290.2%
AerCap Ireland Capital Ltd.3.650% 07/21/20270.2%
JB y Co SA de CV3.750% 05/13/20250.2%
Continental Resources, Inc.4.900% 06/01/20440.2%
IHS Markit Ltd4.000% 03/01/20260.2%
Dr. Pepper Snapple Group, Inc.4.417% 05/25/20250.2%
Leidos, Inc.7.125% 07/01/20320.2%
National Oilwell Varco, Inc.3.950% 12/01/20420.2%
NVA Holdings, Inc.5.033% 02/02/20250.2%
Weyerhaeuser Co.8.500% 01/15/20250.2%
U.S. Treasury Note/Bond2.875% 11/15/20210.2%
American Airlines Class B Pass Through Trust5.625% 01/15/20210.2%
NextEra Energy Capital Holdings, Inc.2.852% 02/25/20220.2%
Bank of America Corp.2.706% 10/01/20210.2%
Venture XXIV CLO Ltd4.016% 10/20/20280.2%
American Airlines Class B Pass Through Trust5.600% 07/15/20200.2%
Oasis Petroleum, Inc.6.875% 03/15/20220.2%
WEA Finance LLC3.500% 06/15/20290.2%
Kroger Co.0.000% 12/02/20190.2%
BAT International Finance plc0.000% 12/23/20190.2%
ICG US CLO 2015-2 Ltd2.851% 01/16/20280.2%
Centennial Resource Production LLC6.875% 04/01/20270.2%
Government National Mortgage Association2.600% 06/16/20570.2%
Global Payments, Inc.3.200% 08/15/20290.2%
Waste Pro USA Inc5.500% 02/15/20260.2%
BlueMountain CLO 2016-1 Ltd3.316% 04/20/20270.2%
Hanover Insurance Group, Inc.4.500% 04/15/20260.2%
Berry Petroleum Co.7.000% 02/15/20260.2%
Kansas City Southern4.200% 11/15/20690.2%
Owens Corning4.300% 07/15/20470.2%
Enbridge, Inc.6.000% 01/15/20770.2%
Puget Energy, Inc.3.650% 05/15/20250.2%
Phosagro OAO via Phosagro Bond Funding Ltd3.949% 04/24/20230.2%
Panera Bread Company3.563% 07/18/20220.2%
Owens Corning7.000% 12/01/20360.2%
Baidu, Inc.3.625% 07/06/20270.2%
Keurig Dr Pepper Inc.3.495% 02/08/20230.2%
Radian Group, Inc.4.875% 03/15/20270.2%
Equinix, Inc.5.875% 01/15/20260.2%
Burlington Northern Santa Fe LLC5.750% 05/01/20400.2%
Hardee's Funding LLC4.959% 06/20/20480.2%
Nationstar Mortgage Holdings, Inc.9.125% 07/15/20260.2%
Range Resources Corp.5.000% 03/15/20230.2%
PFP 2019-6 Ltd0.000% 04/14/20370.2%
Origin Energy Finance Ltd.5.450% 10/14/20210.2%
Macquarie Bank Ltd.6.625% 04/07/20210.2%
National Oilwell Varco, Inc.3.600% 12/01/20290.2%
Bahamas Government International Bond6.950% 11/20/20290.2%
OHA Loan Funding 2016-1 Ltd3.766% 01/20/20280.2%
Hawaiian Electric Co., Inc.0.000% 12/04/20190.2%
Discover Financial Services4.100% 02/09/20270.2%
Hess Corp.5.600% 02/15/20410.2%
SM Energy Co.6.625% 01/15/20270.2%
Neuberger Berman Group LLC4.500% 03/15/20270.2%
Hudson Pacific Properties LP4.650% 04/01/20290.2%
World Financial Network Credit Card Master Trust2.030% 04/15/20250.2%
Exelon Generation Co. LLC5.750% 10/01/20410.2%
Southern Copper Corp.5.250% 11/08/20420.2%
Roper Industries, Inc.3.850% 12/15/20250.2%
Exelon Generation Co. LLC6.250% 10/01/20390.2%
BBVA Bancomer SA5.125% 01/18/20330.2%
Energy Transfer Partners L.P.0.000% 12/04/20190.2%
Cheniere Corpus Christi Holdings LLC5.125% 06/30/20270.2%
Cigna Corp6.125% 11/15/20410.2%
Octagon Investment Partners 30 Ltd3.666% 03/17/20300.2%
Royal Caribbean Cruises Ltd.5.250% 11/15/20220.2%
Kennametal, Inc.4.625% 06/15/20280.2%
Zimmer Biomet Holdings, Inc.5.750% 11/30/20390.2%
Flagship Credit Auto Trust 2019-14.080% 02/18/20250.2%
Brightsphere Investment Group Inc4.800% 07/27/20260.2%
National Fuel Gas Co.4.900% 12/01/20210.2%
Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor4.080% 12/15/20470.2%
Weibo Corp.3.500% 07/05/20240.2%
Spectra Energy Partners L.P.3.179% 06/05/20200.2%
Energy Transfer Operating LP8.250% 11/15/20290.2%
Selective Insurance Group, Inc.5.375% 03/01/20490.2%
SRC Energy Inc6.250% 12/01/20250.1%
Calpine Corp.5.500% 02/01/20240.1%
Litton Industries, Inc.7.750% 03/15/20260.1%
Geo Group, Inc.6.000% 04/15/20260.1%
Conn's Receivables Funding 2017-B LLC5.950% 11/15/20220.1%
Northwell Healthcare, Inc.3.979% 11/01/20460.1%
Mississippi Power Co.4.250% 03/15/20420.1%
American Axle & Manufacturing, Inc.6.500% 04/01/20270.1%
Vulcan Materials Co.2.559% 03/01/20210.1%
BBCMS 2019-BWAY Mortgage Trust3.410% 11/25/20340.1%
Pentair Finance SA2.650% 12/01/20190.1%
Avolon Holdings Funding Ltd5.125% 10/01/20230.1%
BSPRT 2018-FL4 Issuer Ltd2.815% 09/15/20350.1%
CVS Caremark Corp.5.050% 03/25/20480.1%
Oglethorpe Power Corp.5.050% 10/01/20480.1%
Solera Finance, Inc.10.500% 03/01/20240.1%
Bank of Montreal3.803% 12/15/20320.1%
Anglo American Capital plc4.500% 03/15/20280.1%
Lincoln National Corp.7.000% 06/15/20400.1%
TIBCO Software, Inc.11.375% 12/01/20210.1%
World Financial Network Credit Card Master Trust2.660% 08/15/20240.1%
Healthcare Trust of America Holdings LP3.100% 02/15/20300.1%
MPLX L.P.6.875% 12/31/20990.1%
Pentair Finance SA4.500% 07/01/20290.1%
KKR CLO 18 Ltd3.703% 07/18/20300.1%
Bayer Corp6.650% 02/15/20280.1%
Barrick International Barbados Corp.6.350% 10/15/20360.1%
Jamestown CLO IX Ltd4.616% 10/20/20280.1%
Unum Group5.750% 08/15/20420.1%
BMW Vehicle Lease Trust 2019-12.790% 03/22/20210.1%
Foursight Capital Automobile Receivables Trust 2014.190% 11/15/20230.1%
Spirit Realty LP3.400% 01/15/20300.1%
Centene Corp.5.375% 06/01/20260.1%
Exelon Generation Co. LLC5.600% 06/15/20420.1%
Tenneco, Inc.5.000% 07/15/20260.1%
McDonald's Corp.6.300% 03/01/20380.1%
Norfolk Southern Corp.5.590% 05/17/20250.1%
Burlington Northern Santa Fe LLC6.150% 05/01/20370.1%
Lincoln National Corp.6.300% 10/09/20370.1%
Laredo Petroleum Holdings, Inc.5.625% 01/15/20220.1%
Hardee's Funding LLC5.710% 06/20/20480.1%
BBA US Holdings Inc4.000% 03/01/20280.1%
Country Garden Holdings Co. Ltd.4.750% 09/28/20230.1%
Westpac Banking Corp.4.322% 11/23/20310.1%
Provident Funding Associates L.P. / PFG Finance Co6.375% 06/15/20250.1%
Silversea Cruise Finance Ltd.7.250% 02/01/20250.1%
Barclays Bank plc10.179% 06/12/20210.1%
Palmer Square Loan Funding 2018-1 Ltd2.601% 04/15/20260.1%
Duqesne Light Holdings, Inc.6.250% 08/15/20350.1%
Appalachian Power Co.7.000% 04/01/20380.1%
Westpac Banking Corp.4.110% 07/24/20340.1%
PTL Finance Corp.3.450% 07/01/20240.1%
Newell Rubbermaid, Inc.5.750% 04/01/20460.1%
Callon Petroleum Co.6.375% 07/01/20260.1%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.1%
Century Communities, Inc.5.875% 07/15/20250.1%
IHS Markit Ltd4.250% 05/01/20290.1%
GCI LLC6.875% 04/15/20250.1%
Schaeffler Verwaltung Zwei GmbH4.750% 09/15/20260.1%
CNH Capital LLC4.875% 04/01/20210.1%
Imperial Tobacco Finance plc3.125% 07/26/20240.1%
Nissan Motor Acceptance Corp.3.020% 09/28/20220.1%
Endeavor Energy Resources L.P.5.750% 01/30/20280.1%
Royal Caribbean Cruises Ltd.0.000% 12/02/20190.1%
E*TRADE Financial Corp.4.500% 06/20/20280.1%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.1%
AerCap Ireland Capital Ltd.4.875% 01/16/20240.1%
Northwoods Capital Corp / Northwoods Capital Ltd0.000% 01/25/20300.1%
Florida Gas Transmission Co., LLC3.875% 07/15/20220.1%
Emera, Inc.6.750% 06/15/20760.1%
FedEx Corp.4.950% 10/17/20480.1%
VMC Finance 2019-FL3 LLC2.863% 09/15/20360.1%
Perimeter Master Note Business Trust4.230% 05/15/20240.1%
AbbVie, Inc.4.250% 11/21/20490.1%
Interstate Power & Light Co3.500% 09/30/20490.1%
BWAY Holding Co.7.250% 04/15/20250.1%
National Fuel Gas Co.3.950% 09/15/20270.1%
US Cellular Corp.6.700% 12/15/20330.1%
Seven Generations Energy Ltd.6.875% 06/30/20230.1%
Hunt Cos Inc6.250% 02/15/20260.1%
PPL WEM Ltd./Western Power Distribution Ltd.5.375% 05/01/20210.1%
Sabal Trail Transmission LLC4.246% 05/01/20280.1%
Embraer Overseas Ltd.5.696% 09/16/20230.1%
North Texas Tollway Auth8.410% 02/01/20300.1%
Viper Energy Partners LP5.375% 11/01/20270.1%
Sophia LP / Sophia Finance, Inc.9.000% 09/30/20230.1%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.1%
Planet Fitness Master Issuer LLC3.858% 12/05/20490.1%
Kilroy Realty L.P.4.375% 10/01/20250.1%
Barrick North America Finance LLC7.500% 09/15/20380.1%
CPS Auto Trust4.610% 12/15/20220.1%
Energy Transfer Operating LP9.000% 11/01/20240.1%
Itron, Inc.5.000% 01/15/20260.1%
Scientific Games International, Inc.6.625% 05/15/20210.1%
Northwoods Capital Corp / Northwoods Capital Ltd0.000% 01/25/20300.1%
Cheniere Corpus Christi Holdings LLC3.700% 11/15/20290.1%
SCANA Corp.4.750% 05/15/20210.1%
Titan International, Inc.6.500% 11/30/20230.1%
Broadcom Inc0.000% 01/07/20200.1%
General Electric Co.2.667% 05/05/20260.1%
Bombardier, Inc.7.500% 03/15/20250.1%
Wabash National Corp.5.500% 10/01/20250.1%
Cedar Funding VI CLO Ltd3.566% 10/20/20280.1%
Cleveland Electric Illuminating Co.3.500% 04/01/20280.1%
SURA Asset Management SA4.375% 04/11/20270.1%
Carrizo Oil & Gas, Inc.6.250% 04/15/20230.1%
Citigroup, Inc.4.600% 03/09/20260.1%
Acwa Power Management And Investments One Ltd5.950% 12/15/20390.1%
Reynolds Group Issuer, Inc.5.750% 10/15/20200.1%
Gulfstream Natural Gas System LLC4.600% 09/15/20250.1%
MMC Norilsk Nickel OJSC via MMC Finance Ltd.4.100% 04/11/20230.1%
Mountain View CLO X Ltd3.351% 10/13/20270.1%
Standard Chartered plc4.247% 01/20/20230.1%
Freeport-McMoRan, Inc.5.250% 09/01/20290.1%
Interstate Power & Light Co3.600% 04/01/20290.1%
AMMC CLO XIV Ltd3.640% 07/25/20290.1%
WeWork Cos Inc7.875% 05/01/20250.1%
Williams Scotsman International Inc7.875% 12/15/20220.1%
AbbVie, Inc.4.875% 11/14/20480.1%
Government National Mortgage Association2.700% 07/16/20570.1%
U.S. Treasury Note/Bond3.625% 08/15/20430.1%
Syngenta Wilmington, Inc.0.000% 12/17/20190.1%
Newell Rubbermaid, Inc.3.850% 04/01/20230.1%
KazMunayGas National Co.6.375% 10/24/20480.1%
Adani Transmission Ltd4.000% 08/03/20260.1%
Drive Auto Receivables Trust 2019-22.930% 03/15/20220.1%
Griffon Corp.5.250% 03/01/20220.1%
Wells Fargo Commercial Mortgage Trust 2017-C413.785% 11/15/20500.1%
Air Canada 2015-2 Class B Pass Through Trust5.000% 12/15/20230.1%
Northrop Grumman Systems Corp.7.750% 02/15/20310.1%
Yum! Brands, Inc.6.875% 11/15/20370.1%
Syngenta Wilmington, Inc.0.000% 12/27/20190.1%
Sound Point Clo XV Ltd4.434% 01/23/20290.1%
MediArena Acquisition B.V. (fka AP NMT Acquisition B.V.)7.835% 08/13/20210.1%
Parsley Energy LLC6.250% 06/01/20240.1%
SL Green Operating Partnership L.P.3.250% 10/15/20220.1%
Banco Mercantil del Norte SA/Grand Cayman7.625% 07/06/21670.1%
Illinois, IL5.100% 06/01/20330.1%
Popular, Inc.6.125% 09/14/20230.1%
AbbVie, Inc.4.700% 05/14/20450.1%
Syngenta Wilmington, Inc.0.000% 12/16/20190.1%
Citizens Financial Group, Inc.4.150% 09/28/20220.1%
Oztel Holdings SPC Ltd6.625% 04/24/20280.1%
EPR Properties4.500% 04/01/20250.1%
MHP Lux SA6.950% 04/03/20260.1%
Palmer Square Loan Funding 2017-1 Ltd3.701% 10/15/20250.1%
Newell Rubbermaid, Inc.0.000% 12/05/20190.1%
QEP Resources, Inc.6.875% 03/01/20210.1%
Discover Financial Services3.850% 11/21/20220.1%
D.R. Horton, Inc.2.500% 10/15/20240.1%
Marathon Petroleum Corp.5.375% 10/01/20220.1%
Macquarie Bank Ltd.4.875% 06/10/20250.1%
Ford Motor Credit Co. LLC5.113% 05/03/20290.1%
BAT International Finance plc0.000% 12/04/20190.1%
VEREIT Operating Partnership L.P.4.625% 11/01/20250.1%
Government National Mortgage Association2.750% 02/16/20580.1%
Jamestown CLO VII Ltd.3.240% 07/25/20270.1%
Mylan, Inc.0.000% 12/06/20190.1%
Salem Fields CLO Ltd 2016-23.640% 10/25/20280.1%
Texas Eastern Transmission L.P.4.125% 12/01/20200.1%
Wells Fargo Commercial Mortgage Trust4.420% 07/15/20460.1%
ZF North America Capital, Inc.4.000% 04/29/20200.1%
Valmont Industries, Inc.5.250% 10/01/20540.1%
Mohegan Tribal Gaming Authority7.875% 10/15/20240.1%
Florida Power & Light Co.2.639% 05/06/20220.1%
MPLX L.P.6.250% 10/15/20220.1%
Bahamas Government International Bond6.000% 11/21/20280.1%
QEP Resources, Inc.5.375% 10/01/20220.1%
HPS Loan Management 10-2016 Ltd3.716% 01/20/20280.1%
Minejesa Capital BV5.625% 08/10/20370.1%
Hayward Acquisition Corp.5.202% 08/05/20240.1%
Range Resources Corp.5.750% 06/01/20210.1%
Martin Marietta Materials, Inc.2.800% 05/22/20200.1%
Ashtead Capital, Inc.4.250% 11/01/20290.1%
Electricite de France SA5.000% 09/21/20480.1%
Huntington Bancshares, Inc.5.700% 12/31/20990.1%
China Evergrande Group10.000% 04/11/20230.1%
Yingde Gases Investment Ltd6.250% 01/19/20230.1%
Infraestructura Energetica Nova SAB de CV4.875% 01/14/20480.1%
Charter Communications Operating LLC6.484% 10/23/20450.1%
Synchrony Credit Card Master Note Trust2.820% 10/15/20250.1%
Capital Auto Receivables Asset Trust3.340% 03/22/20210.1%
COMM Mortgage Trust4.584% 07/10/20500.1%
Enable Midstream Partners L.P.0.000% 01/27/20200.1%
YPF S.A.6.950% 07/21/20270.1%
Turkiye Vakiflar Bankasi Tao5.750% 01/30/20230.1%
Vedanta Resources plc6.125% 08/09/20240.1%
Canadian Pacific Railway Co.7.125% 10/15/20310.1%
Regatta VI Funding Ltd4.016% 07/20/20280.1%
Embraer Netherlands Finance BV5.050% 06/15/20250.1%
Chaparral Energy, Inc.8.750% 07/15/20230.1%
Range Resources Corp.5.000% 08/15/20220.1%
Eldorado Resorts, Inc.6.000% 09/15/20260.1%
Allegion plc3.500% 10/01/20290.1%
Newell Rubbermaid, Inc.0.000% 12/16/20190.1%
SESI LLC7.125% 12/15/20210.1%
T-Mobile USA, Inc.6.375% 03/01/20250.1%
New York St Electric & Gas Corp.3.300% 09/15/20490.1%
Nissan Motor Acceptance Corp.2.930% 03/15/20210.1%
Spirit Realty LP4.000% 07/15/20290.1%
JPMBB Commercial Mortgage Securities Trust4.410% 07/15/20480.1%
SL Green Realty Corp.4.500% 12/01/20220.1%
Red de Carreteras de Occidente SAPIB de CV9.000% 06/10/20280.1%
Glencore Funding LLC4.125% 05/30/20230.1%
Government National Mortgage Association2.600% 07/16/20580.1%
Bowman Park CLO Ltd.3.090% 11/23/20250.1%
CEOC, LLC (aka Caesars Entertainment Operating Company)3.702% 10/07/20240.1%
VA Electric & Power Co.8.875% 11/15/20380.1%
Thacher Park CLO Ltd.3.126% 10/20/20260.1%
Palmer Square Loan Funding 2018-1 Ltd3.051% 04/15/20260.1%
U.S. Treasury Note/Bond2.750% 11/15/20470.1%
Southern Star Central Corp.5.125% 07/15/20220.1%
Cox Communications, Inc.4.500% 06/30/20430.1%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.1%
E*TRADE Financial Corp.3.800% 08/24/20270.1%
SAIC, Inc.5.950% 12/01/20400.1%
MidOcean Credit CLO VI3.866% 01/20/20290.1%
CPG Merger Sub LLC8.000% 10/01/20210.1%
Northrop Grumman Systems Corp.7.875% 03/01/20260.1%
Park Aerospace Holdings Ltd4.500% 03/15/20230.1%
Mountain Hawk III CLO Ltd.3.203% 04/18/20250.1%
Mount Sinai Hospitals Group Inc3.737% 07/01/20490.1%
OHA Loan Funding Ltd.0.000% 11/15/20320.1%
Syngenta Finance NV4.441% 04/24/20230.1%
Newell Rubbermaid, Inc.0.000% 12/09/20190.1%
Royal Caribbean Cruises Ltd.0.000% 01/14/20200.1%
Royal Caribbean Cruises Ltd.0.000% 01/09/20200.1%
AutoNation, Inc.0.000% 12/02/20190.0%
Regatta XVI Funding Ltd0.000% 01/15/20330.0%
COMM 2016-COR1 Mortgage Trust3.494% 10/10/20490.0%
BlueMountain CLO 2013-1 Ltd3.716% 01/20/20290.0%
Avery Point CLO Ltd.3.540% 04/25/20260.0%
Cent CLO Ltd.3.258% 10/29/20250.0%
Genesys Telecommunications Laboratories Inc/Greene10.000% 11/30/20240.0%
BAE Systems Finance Inc7.500% 07/01/20270.0%
Scientific Games International, Inc.10.000% 12/01/20220.0%
Duqesne Light Holdings, Inc.6.400% 09/15/20200.0%
Sterigenics-Nordion Topco LLC8.125% 11/01/20210.0%
Regatta XVI Funding Ltd0.000% 01/15/20330.0%
Enterprise Development Authority/The12.000% 07/15/20240.0%
Illinois, IL4.950% 06/01/20230.0%
Macquarie Bank Ltd./London6.125% 03/08/21670.0%
Palmer Square Loan Funding 2018-1 Ltd3.401% 04/15/20260.0%
Citigroup, Inc.5.950% 12/31/20990.0%
Lockheed Martin Corp.7.750% 05/01/20260.0%
PTL Finance Corp.3.950% 03/10/20250.0%
Refinitiv US Holdings Inc8.250% 11/15/20260.0%
Viacom, Inc.0.000% 12/02/20190.0%
Newell Rubbermaid, Inc.0.000% 12/10/20190.0%
California Republic Auto Receivables Trust 2015-43.730% 11/15/20210.0%
Rede D'or Finance Sarl4.950% 01/17/20280.0%
ACC Trust 2018-14.820% 05/20/20210.0%
Turkiye Vakiflar Bankasi Tao5.625% 05/30/20220.0%
Bombardier, Inc.8.750% 12/01/20210.0%
Royal Caribbean Cruises Ltd.3.700% 03/15/20280.0%
Eldorado Resorts, Inc.4.553% 04/17/20240.0%
Enterprise Fleet Financing LLC2.870% 10/20/20230.0%
DRB Prime Student Loan Trust3.200% 01/25/20400.0%
ONEOK, Inc.0.000% 12/03/20190.0%
FirstEnergy Transmission LLC4.350% 01/15/20250.0%
GS Mortgage Securities Trust4.557% 07/10/20480.0%
AT&T, Inc.5.350% 09/01/20400.0%
MediArena Acquisition B.V. (fka AP NMT Acquisition B.V.)11.089% 08/13/20220.0%
Joseph T Ryerson & Son, Inc.11.000% 05/15/20220.0%
ZF North America Capital, Inc.4.500% 04/29/20220.0%
Bill Barrett Corp.7.000% 10/15/20220.0%
Berkshire Hathaway Finance Corp.4.250% 01/15/20490.0%
Doncasters US Finance LLC (Doncasters US LLC)5.604% 04/09/20200.0%
Galaxy XXI CLO Ltd2.986% 04/20/20310.0%
Broadcom Inc0.000% 12/05/20190.0%
Boral Finance Pty Ltd3.000% 11/01/20220.0%
McDonald's Corp.6.300% 10/15/20370.0%
NOVA Chemicals Corp.5.250% 08/01/20230.0%
Smithfield Foods, Inc.3.350% 02/01/20220.0%
SM Energy Co.6.125% 11/15/20220.0%
Studio City Co Ltd7.250% 11/30/20210.0%
Callon Petroleum Co.6.125% 10/01/20240.0%
Navios South American Logistics Inc / Navios Logis7.250% 05/01/20220.0%
Danske Bank A/S4.375% 06/12/20280.0%
Palmer Square Loan Funding 2018-5 Ltd3.366% 01/20/20270.0%
FX USD/JPY 01/200.000% 01/08/20200.0%
GS Mortgage Securities Trust1.557% 06/10/20460.0%
Newell Rubbermaid, Inc.0.000% 12/06/20190.0%
Country Garden Holdings Co. Ltd.4.750% 01/17/20230.0%
Halcyon Loan Advisors Funding Ltd.4.090% 07/25/20270.0%
Santander Drive Auto Receivables Trust 2016-14.020% 04/15/20220.0%
ACC Trust 2018-16.810% 02/21/20230.0%
Apex Credit CLO 2017 Ltd3.886% 04/24/20290.0%
GS Mortgage Securities Trust0.655% 06/10/20460.0%
SCF Equipment Leasing 2017-2 LLC3.410% 12/20/20230.0%
Glencore Funding LLC3.000% 10/27/20220.0%
AutoNation, Inc.0.000% 12/03/20190.0%
Capitol Investment Merger Sub 2 LLC10.000% 08/01/20240.0%
Apex Credit CLO 2016 Ltd3.786% 10/27/20280.0%
BAT Capital Corp3.557% 08/15/20270.0%
CSX Corporation, Inc.7.875% 05/15/20430.0%
Compass Bank3.875% 04/10/20250.0%
Carrizo Oil & Gas, Inc.8.250% 07/15/20250.0%
Apidos CLO XVI4.966% 01/19/20250.0%
Lockheed Martin Tactical Systems Inc7.625% 06/15/20250.0%
Motion Bondco DAC6.625% 11/15/20270.0%
Gates Global LLC6.000% 07/15/20220.0%
Metropolitan Edison Co.4.000% 04/15/20250.0%
Illinois, IL5.520% 04/01/20380.0%
Drive Auto Receivables Trust4.180% 03/15/20240.0%
Avis Budget Rental Car Funding2.630% 12/20/20210.0%
Glencore Finance Canada Ltd.4.250% 10/25/20220.0%
Drive Auto Receivables Trust 2017-12.840% 04/15/20220.0%
General Motors Financial Co., Inc.4.250% 05/15/20230.0%
Canadian Tire Corp Ltd0.000% 12/02/20190.0%
Affiliated Managers Group, Inc.4.250% 02/15/20240.0%
CIT Group, Inc.5.800% 12/31/20990.0%
SCANA Corp.6.250% 04/01/20200.0%
Ashtead Capital, Inc.5.625% 10/01/20240.0%
IHS Markit Ltd3.625% 05/01/20240.0%
General Electric Co.3.100% 01/09/20230.0%
UTEX Industries8.952% 05/22/20220.0%
Cabot Corp.0.000% 12/02/20190.0%
Government National Mortgage Association0.623% 07/16/20540.0%
Merrill Lynch Mortgage Investors Trust Series6.250% 10/25/20360.0%
Canadian Pacific Railway Co.9.450% 08/01/20210.0%
Affiliated Managers Group, Inc.3.500% 08/01/20250.0%
Avery Point CLO Ltd.2.982% 07/17/20260.0%
El Paso Electric Co.6.000% 05/15/20350.0%
UTEX Industries5.702% 05/22/20210.0%
Drive Auto Receivables Trust4.590% 01/17/20230.0%
General Electric Co.3.450% 05/15/20240.0%
Syngenta Wilmington, Inc.0.000% 12/11/20190.0%
Hudsons Bay Simon JV Trust0.723% 08/05/20340.0%
Syngenta Wilmington, Inc.0.000% 12/13/20190.0%
Seneca Park CLO Ltd.3.122% 07/17/20260.0%
Oncor Electric Delivery Co. LLC7.500% 09/01/20380.0%
Hawaiian Electric Co., Inc.0.000% 12/23/20190.0%
Cox Communications, Inc.4.700% 12/15/20420.0%
PG&E Corp5.029% 12/31/20200.0%
Kinetic Concepts, Inc. / KCI USA, Inc.12.500% 11/01/20210.0%
GM Financial Automobile Leasing Trust 2017-32.010% 11/20/20200.0%
Anheuser-Busch InBev Worldwide, Inc.8.200% 01/15/20390.0%
GS Mortgage Securities Trust0.330% 11/10/20480.0%
Valero Energy Corp.7.500% 04/15/20320.0%
William Lyon Homes, Inc.7.000% 08/15/20220.0%
National Fuel Gas Co.0.000% 12/11/20190.0%
WFRBS Commercial Mortgage Trust1.124% 05/15/20470.0%
Public Service Co. of New Mexico3.850% 08/01/20250.0%
General Electric Co.3.375% 03/11/20240.0%
Sequoia Mortgage Trust 2012-42.069% 09/25/20420.0%
Doncasters US Finance LLC (Doncasters US LLC)10.354% 10/09/20200.0%
Hudsons Bay Simon JV Trust0.665% 08/05/20340.0%
EnCana Corp.0.000% 01/10/20200.0%
EnCana Corp.0.000% 01/14/20200.0%
Interstate Power & Light Co4.700% 10/15/20430.0%
National Fuel Gas Co.0.000% 12/18/20190.0%
National Fuel Gas Co.0.000% 12/09/20190.0%
Antero Resources Corp.5.125% 12/01/20220.0%
HudBay Minerals, Inc.7.250% 01/15/20230.0%
OneMain Financial Issuance Trust 2016-1A3.660% 02/20/20290.0%
Diamond Resorts Owner Trust3.080% 11/20/20280.0%
Suncor Energy Ventures Corp4.500% 04/01/20220.0%
PG&E Corp5.029% 12/31/20200.0%
Access Point Funding I 2017-1 LLC3.060% 04/15/20290.0%
National Fuel Gas Co.0.000% 12/03/20190.0%
National Fuel Gas Co.0.000% 12/04/20190.0%
Chaparral Energy, Inc.0.000% -0.0%
JPMBB Commercial Mortgage Securities Trust0.909% 04/15/20470.0%
DOMMO ENERGIA SA-SP ADR0.000% -0.0%
WFRBS Commercial Mortgage Trust0.734% 05/15/20470.0%
FX USD/EUR 12/190.000% 12/09/20190.0%
FX USD/MXN 02/200.000% 02/14/20200.0%
Eneva SA0.000% -0.0%
JPMBB Commercial Mortgage Securities Trust0.441% 04/15/20470.0%
Afren plc10.250% 04/08/20220.0%
Templar Energy LLC0.000% -0.0%
Federal Home Loan Mortgage Corp.0.000% 08/15/20220.0%
Afren plc6.625% 12/09/20200.0%
EURO-SCHATZ FUT DEC190.000% 12/10/20190.0%
Federal Home Loan Mortgage Corp.544.714% 12/15/20200.0%
Federal Home Loan Mortgage Corp.1185.497% 09/15/20210.0%
Federal Home Loan Mortgage Corp.982.654% 04/15/20220.0%
Federal Home Loan Mortgage Corp.1195.607% 04/15/20210.0%
Federal Home Loan Mortgage Corp.1007.780% 05/15/20210.0%
Federal Home Loan Mortgage Corp.1008.400% 11/15/20210.0%
Federal Home Loan Mortgage Corp.0.000% 10/15/20210.0%
Federal Home Loan Mortgage Corp.0.000% 06/15/20210.0%
Federal Home Loan Mortgage Corp.0.000% 07/01/20220.0%
Federal Home Loan Mortgage Corp.0.000% 09/15/20220.0%
Federal Home Loan Mortgage Corp.1007.000% 02/15/20220.0%
Federal Home Loan Mortgage Corp.1008.500% 04/15/20210.0%
Federal Home Loan Mortgage Corp.1009.000% 02/15/20210.0%
Federal Home Loan Mortgage Corp.1010.500% 02/15/20210.0%
Federal Home Loan Mortgage Corp.409.000% 04/15/20210.0%
Federal Home Loan Mortgage Corp.900.950% 12/15/20200.0%
Federal National Mortgage Assoc.0.000% 04/25/20220.0%
Federal National Mortgage Assoc.9.500% 08/25/20210.0%
Federal National Mortgage Assoc.1008.000% 12/25/20210.0%
OGX Austria GmbH8.500% 06/01/20190.0%
Templar Energy LLC0.000% -0.0%
US 10YR NOTE (CBT)MAR200.000% 03/31/20200.0%
US LONG BOND(CBT) MAR200.000% 03/31/20200.0%
US ULTRA BOND CBT MAR200.000% 03/31/20200.0%
US 10YR ULTRA FUT MAR200.000% 03/31/20200.0%
US 2YR NOTE (CBT) MAR200.000% 04/03/20200.0%
US 5YR NOTE (CBT) MAR200.000% 04/03/20200.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%

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 01/23/2020
$0
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 12/31/2019 $0.00949 $2.91
Daily Daily 11/30/2019 $0.00951 $2.90
Daily Daily 10/31/2019 $0.00957 $2.90
Daily Daily 09/30/2019 $0.00989 $2.90
Daily Daily 08/31/2019 $0.00975 $2.92
Daily Daily 07/31/2019 $0.00989 $2.87
Daily Daily 06/30/2019 $0.01005 $2.86
Daily Daily 05/31/2019 $0.01009 $2.81
Daily Daily 04/30/2019 $0.01016 $2.80
Daily Daily 03/31/2019 $0.01014 $2.79
Daily Daily 02/28/2019 $0.01041 $2.74
Daily Daily 01/31/2019 $0.01020 $2.73

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 01/31/2020
Daily Daily 02/29/2020
Daily Daily 03/31/2020
Daily Daily 04/30/2020
Daily Daily 05/31/2020
Daily Daily 06/30/2020
Daily Daily 07/31/2020
Daily Daily 08/31/2020
Daily Daily 09/30/2020
Daily Daily 10/31/2020
Daily Daily 11/30/2020
Daily Daily 12/31/2020

Fees & Expenses

Fees & Expenses

Expense Ratioas of 12/31/2019

0.48%

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
Publish Date:11/03/2015
Flyer
Publish Date:11/03/2015

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Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.      

                    

1

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.

 

3

The Fund’s Dividend Yield, 12-Month Dividend Yield and 7 Day Yield are shown with and without sales charges and with maximum sales charges. The Fund’s Subsidized Dividend yield takes into account any fee waiver or expense limitation arrangements, if any. Without such fee waivers or expense limitation arrangements, the Fund’s dividend yield would have been lower. Information regarding any fee waivers or expense limitation arrangements applicable to the Fund is provided with the Fund’s expense ratio information.

 

4

The Fund’s Unsubsidized Dividend yield is shown without sales charges and with maximum sales charges. The Fund’s unsubsidized dividend yield reflects what the yield would have been without the effect of fee waivers or expense limitation arrangements.

 

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 is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The value of an investment will change as interest rates fluctuate and in response to market movements. When interest rates fall, the prices of debt securities tend to rise, and when interest rates rise, the prices of debt securities are likely to decline. Debt securities are subject to credit risk, which is the risk that the issuer will fail to make timely payments of interest and principal to the Fund. The Fund may invest in high yield, lower-rated debt securities, sometimes called junk bonds, and may involve greater risks than higher-rated debt securities. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. The Fund may also invest in convertible securities and senior loans, which are subject to increased credit and liquidity risks. 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 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 June 30, 2015,  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; (b) for periods prior to April 4, 2017 but after June 30, 2015, performance is based on the historical performance of the Fund’s Class R6 shares, which have an equivalent expense ratio to the Fund’s F3 shares; and (c) 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.

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 Fund changed its investment strategy on 01/01/1982. Performance is calculated from this date. In addition, the Fund amended it s strategy on December 14, 2007. The historical performance shown of the Fund prior to December 14, 2007, reflects periods when the Fund pursued its previous investment strategy. The change in investment approach may affect the Fund’s performance in the future.

 

The Bloomberg Barclays U.S. Credit Bond Index is the U.S. Credit component of the U.S. Government/Credit index. The index includes publicly issued U.S. corporate and specified foreign debentures and secured notes that meet the specified maturity, liquidity, and quality requirements. To qualify, bonds must be SEC-registered. The index includes both corporate and non-corporate sectors. The corporate sectors are Industrial, Utility, and Finance, which include both U.S. and non-U.S. corporations. The non-corporate sectors are Sovereign, Supranational, Foreign Agency, and Foreign Local Government. All returns are market value-weighted inclusive of accrued interest.

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.

 

 

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

 

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

 

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

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

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