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Income Fund

Daily price w/o sales charge as of 08/16/2019

$2.91

$0.00

YTD Returns w/o sales charge as of 08/16/2019

11.56%

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 08/16/2019  

w/o sales charge 4.08%

30-Day Standardized Yield 2 as of 07/31/2019  

3.46%

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

Fund Basicsas of 07/31/2019

Total Net Assets
$2.47 B
Inception Date
04/05/2017
Dividend Frequency
Monthly
Fund Expense Ratio
0.48%
Number of Holdings
665

Fund Expense Ratio :

0.48%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 9.83% 9.08% 4.57% 4.07% 6.56% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated 9.70% 9.26% 3.27% 3.66% 5.46% -
Bloomberg Barclays U.S. Credit Bond Index 9.92% 10.12% 3.47% 4.03% 5.43% -

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 9.08% 8.73% 4.94% 3.87% 7.05% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated 9.07% 9.43% 3.59% 3.48% 5.76% -
Bloomberg Barclays U.S. Credit Bond Index 9.35% 10.34% 3.74% 3.92% 5.77% -

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
ABS
U.S. Government Related
CMBS
Bank Loans
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 07/31/2019 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

Supported By 67 Investment Professionals with 15 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 08/16/2019  

w/o sales charge 4.08%

30-Day Standardized Yield 2 as of 07/31/2019  

  Subsidized5 Un-Subsidized6
w/o sales charge 3.46% 3.46%

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 9.83% 9.08% 4.57% 4.07% 6.56% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated 9.70% 9.26% 3.27% 3.66% 5.46% -
Bloomberg Barclays U.S. Credit Bond Index 9.92% 10.12% 3.47% 4.03% 5.43% -

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 9.08% 8.73% 4.94% 3.87% 7.05% -
Lipper Category Avg. Corporate Debt Funds BBB-Rated 9.07% 9.43% 3.59% 3.48% 5.76% -
Bloomberg Barclays U.S. Credit Bond Index 9.35% 10.34% 3.74% 3.92% 5.77% -

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
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% 16.04%
2008 -10.13% -
2007 7.07% -
2006 - -
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 5.27% 3.61% - - 11.58%
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
ABS
U.S. Government Related
CMBS
Bank Loans
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 07/31/2019

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 06/30/2019

  • Following strong performance and spread tightening in April, we reduced the portfolio’s allocation to investment grade corporate bonds, taking gains on our overweight position within the energy and the consumer discretionary sector. After the sell-off in May, we added back to investment grade corporate bonds as valuations became more attractive.
  • We increased the portfolio’s positioning within the consumer staples sector, specifically adding to issuers that have recently experienced a leverage event, such as an acquisition, and, therefore, we believe, are unlikely to do so in the near future. We anticipate the consumer staples sector will hold up in a recessionary environment given its non-cyclical orientation.
  • We increased the portfolio’s allocation to the consumer cyclicals sector. In particular, we increased the portfolio’s exposure to a stable American automotive company, as we maintain a positive view on the company’s management and believe investors’ concerns over trade-war related issues within the auto industry are overstated.
  • We reduced the portfolio’s allocation within the communication sector. A few communications issuers experienced spread compression following mergers. This allowed us to take profits and reallocate our exposure within other sectors.
  • We reduced the portfolio’s modest allocation to asset-backed securities (“ABS”) that are backed by student loans and credit card receivables. While we continue to maintain a favorable view on ABS, we were able to take profits and reallocate our ABS positioning following the volatility that occurred within risk assets during May, which resulted in tighter ABS spreads relative to corporate bonds.

Portfolio Details as of 07/31/2019

Total Net Assets
$2.47 B
Number of Issues
665
Average Coupon
5.02%
Average Life
8.14 Years
Average Maturity
8.14 Years
Average Effective Duration
6.01 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
J.P.Morgan Securities LLC 0.010% - 2.5%
J.P.Morgan Securities LLC 0.010% - 2.2%
U.S. Treasury Note/Bond 1.750% 06/30/2024 1.8%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl 4.700% 02/01/2036 1.4%
AT&T, Inc. 6.000% 08/15/2040 1.2%
CVS Caremark Corp. 4.300% 03/25/2028 1.0%
General Motors Co. 6.750% 04/01/2046 0.8%
Tencent Holdings Ltd. 3.595% 01/19/2028 0.8%
U.S. Treasury Note/Bond 2.625% 02/15/2029 0.7%
Ford Motor Co. 7.450% 07/16/2031 0.7%
% of Total Assets 13.1%

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.

Holding Coupon Maturity Assets
J.P.Morgan Securities LLC0.010% -3.1%
U.S. Treasury Note/Bond1.750% 06/30/20241.9%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl4.700% 02/01/20361.4%
AT&T, Inc.6.000% 08/15/20401.2%
CVS Caremark Corp.4.300% 03/25/20281.0%
General Motors Co.6.750% 04/01/20460.8%
Tencent Holdings Ltd.3.595% 01/19/20280.8%
U.S. Treasury Note/Bond2.625% 02/15/20290.8%
Ford Motor Co.7.450% 07/16/20310.7%
GE Capital International Funding Co.4.418% 11/15/20350.7%
Time Warner Cable LLC7.300% 07/01/20380.6%
NBCUniversal Enterprise, Inc.5.250% 06/19/20990.6%
UBS AG Registered Shares5.125% 05/15/20240.6%
Universal Health Services, Inc.4.750% 08/01/20220.6%
Kinder Morgan, Inc.7.750% 01/15/20320.6%
Citigroup, Inc.3.887% 01/10/20280.6%
Teachers Insurance & Annuity Association of Americ4.900% 09/15/20440.6%
Helmerich & Payne, Inc.4.650% 03/15/20250.6%
ENI SpA5.700% 10/01/20400.6%
Danske Bank A/S5.375% 01/12/20240.5%
VEREIT Operating Partnership L.P.4.875% 06/01/20260.5%
Broadcom Corp. / Broadcom Cayman Finance Ltd.3.875% 01/15/20270.5%
Continental Resources, Inc.5.000% 09/15/20220.5%
Valero Energy Corp.10.500% 03/15/20390.5%
Bank of Ireland Group PLC4.125% 09/19/20270.5%
BAT Capital Corp4.390% 08/15/20370.5%
Patterson-UTI Energy, Inc.3.950% 02/01/20280.5%
Apache Corp.5.100% 09/01/20400.5%
Bacardi Ltd.4.700% 05/15/20280.5%
Dell International LLC / EMC Corp.8.350% 07/15/20460.5%
PSEG Power LLC8.625% 04/15/20310.5%
Sabine Pass Liquefaction LLC5.625% 04/15/20230.5%
Nvent Finance Sarl4.550% 04/15/20280.4%
Continental Resources, Inc.4.375% 01/15/20280.4%
Bank of America Corp.4.450% 03/03/20260.4%
CVS Caremark Corp.4.780% 03/25/20380.4%
Goldman Sachs Group, Inc.6.750% 10/01/20370.4%
UBS AG7.625% 08/17/20220.4%
NXP BV / NXP Funding LLC4.625% 06/01/20230.4%
NRG Energy, Inc.4.450% 06/15/20290.4%
Cox Communications, Inc.8.375% 03/01/20390.4%
Sabine Pass Liquefaction LLC5.875% 06/30/20260.4%
Wells Fargo Capital X5.950% 12/15/20360.4%
Newmont Mining Corp.3.700% 03/15/20230.4%
Volkswagen Group of America Finance LLC4.750% 11/13/20280.4%
Bank of America Corp.3.824% 01/20/20280.4%
CNH Capital LLC4.375% 04/05/20220.4%
Hilcorp Energy L.P. / Hilcorp Finance Co.6.250% 11/01/20280.4%
Baidu, Inc.3.875% 09/29/20230.4%
Royal Caribbean Cruises Ltd.7.500% 10/15/20270.4%
U.S. Treasury Note/Bond3.000% 02/15/20490.4%
Kerr-McGee Corp.7.875% 09/15/20310.4%
Vodafone Group plc4.375% 05/30/20280.4%
Myriad International Holdings BV6.000% 07/18/20200.4%
TransAlta Corp.4.500% 11/15/20220.4%
Energy Transfer Partners L.P.0.000% 07/01/20190.4%
EPR Properties4.950% 04/15/20280.4%
Exelon Generation Co. LLC6.250% 10/01/20390.4%
Bermuda Government International Bond3.717% 01/25/20270.3%
Starbucks Corp.3.550% 08/15/20290.3%
Energy Transfer Operating LP6.250% 04/15/20490.3%
Fresenius Medical Care US Finance II, Inc.5.875% 01/31/20220.3%
Navient Corp.6.750% 06/25/20250.3%
North Texas Tollway Auth8.910% 02/01/20300.3%
CNO Financial Group, Inc.5.250% 05/30/20250.3%
Morgan Stanley3.875% 01/27/20260.3%
Santander Drive Auto Receivables Trust 2015-24.020% 09/15/20220.3%
Owens Corning7.000% 12/01/20360.3%
Protective Life Corp.8.450% 10/15/20390.3%
Motiva Enterprises LLC5.750% 01/15/20200.3%
Wabtec Corp.4.700% 09/15/20280.3%
Capital Auto Receivables Asset Trust 2018-12.790% 01/20/20220.3%
Canadian Natural Resources Ltd.7.200% 01/15/20320.3%
CNAC HK Finbridge Co Ltd3.000% 07/19/20200.3%
Nissan Motor Acceptance Corp.0.000% 08/26/20190.3%
CRH America Finance, Inc.3.950% 04/04/20280.3%
Aircastle Ltd.4.250% 06/15/20260.3%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.3%
Netflix, Inc.3.625% 05/15/20270.3%
Santander UK plc7.950% 10/26/20290.3%
American Airlines Class B Pass Through Trust4.375% 10/01/20220.3%
Boston Scientific Corp.0.000% 07/23/20190.3%
AerCap Ireland Capital Ltd.3.500% 01/15/20250.3%
Carnival plc7.875% 06/01/20270.3%
Trimble Navigation Ltd.4.900% 06/15/20280.3%
National Fuel Gas Co.3.750% 03/01/20230.3%
Williams Cos., Inc.8.750% 03/15/20320.3%
Universal Health Services, Inc.5.000% 06/01/20260.3%
Air Lease Corp.3.625% 04/01/20270.3%
Aon plc8.205% 01/01/20270.3%
Midcontinent Express Pipeline LLC6.700% 09/15/20190.3%
PVH Corp.7.750% 11/15/20230.3%
AT&T, Inc.6.200% 03/15/20400.3%
Shackleton 2019-XIV Clo Ltd0.000% 07/20/20300.3%
Anglo American Capital plc4.750% 04/10/20270.3%
Freeport-McMoRan, Inc.5.450% 03/15/20430.3%
Vistra Operations Co LLC4.300% 07/15/20290.3%
Time Warner Entertainment Co. L.P.8.375% 07/15/20330.3%
Harris Corp.4.400% 06/15/20280.3%
Wyndham Hotels & Resorts3.972% 03/28/20250.3%
Woodside Finance Ltd.4.500% 03/04/20290.3%
IFM US Colonial Pipeline 2 LLC6.450% 05/01/20210.3%
MPT Operating Partnership L.P.5.000% 10/15/20270.3%
Anheuser-Busch InBev Worldwide, Inc.4.750% 01/23/20290.3%
Macquarie Group Ltd.4.654% 03/27/20290.3%
The Royal Bank of Scotland Group PLC3.875% 09/12/20230.3%
Fidelity National Financial Group4.500% 08/15/20280.3%
Drive Auto Receivables Trust 2019-22.930% 03/15/20220.3%
International Paper Co.7.300% 11/15/20390.3%
Midwest Connector Capital Co LLC3.900% 04/01/20240.3%
Fresenius Medical Care US Finance II, Inc.4.750% 10/15/20240.3%
Dell International LLC / EMC Corp6.020% 06/15/20260.3%
Glencore Finance Canada Ltd.5.550% 10/25/20420.3%
Kinross Gold Corp.4.500% 07/15/20270.2%
Verizon Communications, Inc.3.784% 05/15/20250.2%
Caesars Palace Las Vegas Trust 2017-VICI3.531% 10/15/20340.2%
FMC Corp.0.000% 07/01/20190.2%
Cleco Power LLC6.000% 12/01/20400.2%
ALM VII Ltd0.000% 07/15/20290.2%
American Homes 4 Rent LP4.250% 02/15/20280.2%
American Airlines Class B Pass Through Trust5.600% 07/15/20200.2%
People's United Financial, Inc.3.650% 12/06/20220.2%
Halliburton Co.7.450% 09/15/20390.2%
Citigroup, Inc.3.668% 07/24/20280.2%
AT&T, Inc.6.350% 03/15/20400.2%
Discover Bank3.450% 07/27/20260.2%
Kraft Heinz Foods Co.6.875% 01/26/20390.2%
DBWF 2018-AMXP Mortgage Trust3.917% 05/05/20350.2%
Credit Suisse AG6.500% 08/08/20230.2%
Smithfield Foods, Inc.5.200% 04/01/20290.2%
Neuberger Berman Group LLC4.875% 04/15/20450.2%
Enel Finance International N.V.2.750% 04/06/20230.2%
Embraer Overseas Ltd.5.696% 09/16/20230.2%
Dominion Resources, Inc.7.000% 06/15/20380.2%
American Airlines Class B Pass Through Trust5.625% 01/15/20210.2%
Cimarex Energy Co.4.375% 03/15/20290.2%
California Republic Auto Receivables Trust2.530% 06/15/20210.2%
Lloyds Bank plc6.500% 09/14/20200.2%
SCANA Corp.4.125% 02/01/20220.2%
Webster Financial Corp.4.100% 03/25/20290.2%
FirstEnergy Transmission LLC4.550% 04/01/20490.2%
Dollar Tree, Inc.4.200% 05/15/20280.2%
GATX Corp.4.550% 11/07/20280.2%
Weyerhaeuser Co.8.500% 01/15/20250.2%
U.S. Treasury Note/Bond2.875% 11/15/20210.2%
JB y Co SA de CV3.750% 05/13/20250.2%
Alibaba Group Holding Ltd.3.400% 12/06/20270.2%
Entergy Corp.0.000% 07/01/20190.2%
IHS Markit Ltd4.000% 03/01/20260.2%
AerCap Ireland Capital Ltd.3.650% 07/21/20270.2%
Venture XXIV CLO Ltd4.642% 10/20/20280.2%
Ammc Clo 19 Ltd.4.097% 10/15/20280.2%
Cleco Corp.4.973% 05/01/20460.2%
Enterprise Products Operating LLC0.000% 07/01/20190.2%
Discover Bank4.682% 08/09/20280.2%
Broadcom Inc0.000% 07/09/20190.2%
Leidos, Inc.7.125% 07/01/20320.2%
Boston Scientific Corp.0.000% 08/13/20190.2%
Brixmor Operating Partnership L.P.3.850% 02/01/20250.2%
ICG US CLO 2015-2 Ltd3.451% 01/16/20280.2%
Government National Mortgage Association2.600% 06/16/20570.2%
BlueMountain CLO 2016-1 Ltd3.942% 04/20/20270.2%
Petroleos Mexicanos3.500% 01/30/20230.2%
Hardee's Funding LLC4.959% 06/20/20480.2%
General Electric Co.2.700% 10/09/20220.2%
National Oilwell Varco, Inc.3.950% 12/01/20420.2%
Hanover Insurance Group, Inc.4.500% 04/15/20260.2%
AXIS Specialty Finance LLC3.900% 07/15/20290.2%
Puget Energy, Inc.3.650% 05/15/20250.2%
Telefonica Emisiones SAU5.520% 03/01/20490.2%
Phosagro OAO via Phosagro Bond Funding Ltd3.949% 04/24/20230.2%
GM Financial Automobile Leasing Trust 2017-32.010% 11/20/20200.2%
Macquarie Bank Ltd.6.625% 04/07/20210.2%
Enbridge, Inc.6.000% 01/15/20770.2%
Baidu, Inc.3.625% 07/06/20270.2%
Bombardier, Inc.6.125% 01/15/20230.2%
Origin Energy Finance Ltd.5.450% 10/14/20210.2%
OHA Loan Funding 2016-1 Ltd4.392% 01/20/20280.2%
Geo Group, Inc.6.000% 04/15/20260.2%
Radian Group, Inc.4.875% 03/15/20270.2%
World Financial Network Credit Card Master Trust2.030% 04/15/20250.2%
Neuberger Berman Group LLC4.500% 03/15/20270.2%
Intesa Sanpaolo SpA5.710% 01/15/20260.2%
Hudson Pacific Properties LP4.650% 04/01/20290.2%
Discover Financial Services4.100% 02/09/20270.2%
Expedia, Inc.5.000% 02/15/20260.2%
Gazprom OAO Via Gaz Capital SA4.950% 02/06/20280.2%
NGPL Pipeco LLC4.875% 08/15/20270.2%
SunTrust Auto Receivables Trust3.240% 01/16/20230.2%
Southern Copper Corp.5.250% 11/08/20420.2%
Nationstar Mortgage Holdings, Inc.9.125% 07/15/20260.2%
GS Mortgage Securities Corp Trust 2018-FBLU5.144% 11/15/20350.2%
BBVA Bancomer SA5.125% 01/18/20330.2%
Royal Caribbean Cruises Ltd.5.250% 11/15/20220.2%
Conn's Receivables Funding 2017-B LLC5.950% 11/15/20220.2%
Morgan Stanley3.958% 05/08/20240.2%
Roper Industries, Inc.3.850% 12/15/20250.2%
Energy Transfer Operating LP8.250% 11/15/20290.2%
Flagship Credit Auto Trust 2019-14.080% 02/18/20250.2%
Electricite de France SA5.000% 09/21/20480.2%
OM Asset Management plc4.800% 07/27/20260.2%
National Fuel Gas Co.4.900% 12/01/20210.2%
Kennametal, Inc.4.625% 06/15/20280.2%
Palmer Square Loan Funding 2018-1 Ltd3.197% 04/15/20260.2%
Calpine Corp.5.500% 02/01/20240.2%
American Axle & Manufacturing, Inc.6.500% 04/01/20270.2%
Energy Transfer Partners L.P.0.000% 07/03/20190.2%
BMW Vehicle Lease Trust 2019-12.790% 03/22/20210.2%
Embraer Netherlands Finance BV5.050% 06/15/20250.2%
Spectra Energy Partners L.P.3.299% 06/05/20200.2%
Vulcan Materials Co.3.170% 03/01/20210.2%
Northwell Healthcare, Inc.3.979% 11/01/20460.2%
Santander UK Group Holdings plc3.823% 11/03/20280.2%
Oasis Petroleum, Inc.6.875% 03/15/20220.2%
Zimmer Biomet Holdings, Inc.5.750% 11/30/20390.2%
Pentair Finance SA2.650% 12/01/20190.2%
Energy Transfer Partners L.P.0.000% 07/02/20190.2%
Avolon Holdings Funding Ltd5.125% 10/01/20230.2%
Selective Insurance Group, Inc.5.375% 03/01/20490.2%
KCP&L Greater Missouri Operations Co.0.000% 07/01/20190.2%
Centene Corp.5.625% 02/15/20210.2%
World Financial Network Credit Card Master Trust2.660% 08/15/20240.2%
Andeavor Logistics LP6.875% 12/31/20990.2%
Oglethorpe Power Corp.5.050% 10/01/20480.2%
Mississippi Power Co.4.250% 03/15/20420.2%
Caesars Palace Las Vegas Trust 2017-VICI3.835% 10/15/20340.2%
HCA, Inc.5.125% 06/15/20390.2%
TIBCO Software, Inc.11.375% 12/01/20210.2%
Healthcare Trust of America Holdings LP2.950% 07/01/20220.2%
Capital Auto Receivables Asset Trust3.340% 03/22/20210.2%
Broadcom Inc3.625% 10/15/20240.2%
Bank of Montreal3.803% 12/15/20320.2%
Foursight Capital Automobile Receivables Trust 2014.190% 11/15/20230.1%
Drive Auto Receivables Trust 2017-12.840% 04/15/20220.1%
Verizon Communications, Inc.4.862% 08/21/20460.1%
Pentair Finance SA4.500% 07/01/20290.1%
Bayer Corp6.650% 02/15/20280.1%
Barrick International Barbados Corp.6.350% 10/15/20360.1%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.1%
Lincoln National Corp.7.000% 06/15/20400.1%
General Electric Co.5.000% 12/31/20990.1%
Unum Group5.750% 08/15/20420.1%
Centene Corp.5.375% 06/01/20260.1%
General Motors Financial Co., Inc.0.000% 07/01/20190.1%
Silversea Cruise Finance Ltd.7.250% 02/01/20250.1%
AT&T, Inc.6.250% 03/29/20410.1%
RPI Finance Trust4.776% 03/27/20230.1%
Westpac Banking Corp.4.322% 11/23/20310.1%
Burlington Northern Santa Fe LLC6.150% 05/01/20370.1%
Lincoln National Corp.6.300% 10/09/20370.1%
McDonald's Corp.6.300% 03/01/20380.1%
Barclays Bank plc10.179% 06/12/20210.1%
Waste Pro USA Inc5.500% 02/15/20260.1%
Solera Finance, Inc.10.500% 03/01/20240.1%
United Rentals, Inc.4.875% 01/15/20280.1%
Exelon Generation Co. LLC5.600% 06/15/20420.1%
Tenneco, Inc.5.000% 07/15/20260.1%
Country Garden Holdings Co. Ltd.4.750% 09/28/20230.1%
WeWork Cos Inc7.875% 05/01/20250.1%
Vale Overseas Ltd.6.250% 08/10/20260.1%
L-3 Communications Corp.4.400% 06/15/20280.1%
Liberty Mutual Group, Inc.4.500% 06/15/20490.1%
Edison International4.125% 03/15/20280.1%
Duqesne Light Holdings, Inc.6.250% 08/15/20350.1%
Appalachian Power Co.7.000% 04/01/20380.1%
PTL Finance Corp.3.450% 07/01/20240.1%
Provident Funding Associates L.P. / PFG Finance Co6.375% 06/15/20250.1%
Level 3 Parent LLC5.750% 12/01/20220.1%
Republic of Argentina4.625% 01/11/20230.1%
Enable Midstream Partners L.P.0.000% 07/15/20190.1%
GCI LLC6.875% 04/15/20250.1%
Harris Corp.0.000% 07/01/20190.1%
CNH Capital LLC4.875% 04/01/20210.1%
Century Communities, Inc.5.875% 07/15/20250.1%
Petroleos Mexicanos4.875% 01/18/20240.1%
Expedia, Inc.3.800% 02/15/20280.1%
BAT International Finance plc0.000% 07/29/20190.1%
BAT International Finance plc0.000% 07/30/20190.1%
Time Warner Cable LLC6.550% 05/01/20370.1%
Indika Energy Capital III Pte Ltd5.875% 11/09/20240.1%
AerCap Ireland Capital Ltd.4.875% 01/16/20240.1%
Florida Gas Transmission Co., LLC3.875% 07/15/20220.1%
SCE Trust III0.000% -0.1%
Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor4.080% 12/15/20470.1%
Thacher Park CLO Ltd.3.752% 10/20/20260.1%
Hyundai Capital America2.000% 07/01/20190.1%
FedEx Corp.4.950% 10/17/20480.1%
E*TRADE Financial Corp.4.500% 06/20/20280.1%
Peabody Energy Corp.6.000% 03/31/20220.1%
New Gold, Inc.6.250% 11/15/20220.1%
General Electric Co.3.150% 09/07/20220.1%
CIT Group, Inc.6.125% 03/09/20280.1%
Chaparral Energy, Inc.8.750% 07/15/20230.1%
Turkiye Vakiflar Bankasi Tao5.750% 01/30/20230.1%
Santander Drive Auto Receivables Trust 2015-23.020% 04/15/20210.1%
National Fuel Gas Co.3.950% 09/15/20270.1%
Marvell Technology Group Ltd.4.200% 06/22/20230.1%
Seven Generations Energy Ltd.6.875% 06/30/20230.1%
PPL WEM Ltd./Western Power Distribution Ltd.5.375% 05/01/20210.1%
William Lyon Homes, Inc.7.000% 08/15/20220.1%
Electricite de France SA5.625% 01/22/21640.1%
North Texas Tollway Auth8.410% 02/01/20300.1%
US Cellular Corp.6.700% 12/15/20330.1%
Norfolk Southern Corp.5.590% 05/17/20250.1%
Sabal Trail Transmission LLC4.246% 05/01/20280.1%
Hunt Cos Inc6.250% 02/15/20260.1%
Titan International, Inc.6.500% 11/30/20230.1%
Scientific Games International, Inc.6.625% 05/15/20210.1%
CPS Auto Trust4.610% 12/15/20220.1%
General Electric Co.5.300% 02/11/20210.1%
Itron, Inc.5.000% 01/15/20260.1%
United Technologies Corp.4.625% 11/16/20480.1%
SCANA Corp.4.750% 05/15/20210.1%
Energy Transfer Operating LP9.000% 11/01/20240.1%
T-Mobile USA, Inc.6.000% 04/15/20240.1%
Litton Industries, Inc.7.750% 03/15/20260.1%
Cedar Funding VI CLO Ltd4.192% 10/20/20280.1%
Bombardier, Inc.7.500% 03/15/20250.1%
Precision Drilling Corp.5.250% 11/15/20240.1%
General Electric Co.2.945% 05/05/20260.1%
Barrick North America Finance LLC7.500% 09/15/20380.1%
Boston Scientific Corp.0.000% 07/26/20190.1%
Bowman Park CLO Ltd.3.704% 11/23/20250.1%
Cleveland Electric Illuminating Co.3.500% 04/01/20280.1%
ZF North America Capital, Inc.4.750% 04/29/20250.1%
Wabash National Corp.5.500% 10/01/20250.1%
Reynolds Group Issuer, Inc.5.750% 10/15/20200.1%
Mountain View CLO X Ltd3.947% 10/13/20270.1%
SURA Asset Management SA4.375% 04/11/20270.1%
Standard Chartered plc4.247% 01/20/20230.1%
Gulfstream Natural Gas System LLC4.600% 09/15/20250.1%
CVS Holdings I, LP5.160% 02/06/20250.1%
Citigroup, Inc.4.600% 03/09/20260.1%
MMC Norilsk Nickel OJSC via MMC Finance Ltd.4.100% 04/11/20230.1%
Government National Mortgage Association2.700% 07/16/20570.1%
Interstate Power & Light Co3.600% 04/01/20290.1%
Acwa Power Management And Investments One Ltd5.950% 12/15/20390.1%
Enbridge US Inc0.000% 07/18/20190.1%
Griffon Corp.5.250% 03/01/20220.1%
Bahamas Government International Bond6.950% 11/20/20290.1%
Rayonier AM Products, Inc.5.500% 06/01/20240.1%
Adani Transmission Ltd4.000% 08/03/20260.1%
Caesars Palace Las Vegas Trust 2017-VICI4.138% 10/15/20340.1%
Northrop Grumman Systems Corp.7.750% 02/15/20310.1%
Sound Point Clo XV Ltd5.092% 01/23/20290.1%
Air Canada 2015-2 Class B Pass Through Trust5.000% 12/15/20230.1%
KCP&L Greater Missouri Operations Co.0.000% 07/03/20190.1%
YPF S.A.6.950% 07/21/20270.1%
KazMunayGas National Co.6.375% 10/24/20480.1%
Mountain Hawk III CLO Ltd.3.801% 04/18/20250.1%
Murphy Oil Corp.6.875% 08/15/20240.1%
Enbridge US Inc0.000% 07/24/20190.1%
AbbVie, Inc.4.875% 11/14/20480.1%
General Motors Co.5.950% 04/01/20490.1%
SL Green Operating Partnership L.P.3.250% 10/15/20220.1%
Popular, Inc.6.125% 09/14/20230.1%
Banco Mercantil del Norte SA/Grand Cayman7.625% 07/06/21670.1%
Citizens Financial Group, Inc.4.150% 09/28/20220.1%
PG&E Corp3.875% 04/27/20210.1%
Palmer Square Loan Funding 2017-1 Ltd4.297% 10/15/20250.1%
Yum! Brands, Inc.6.875% 11/15/20370.1%
MHP Lux SA6.950% 04/03/20260.1%
EPR Properties4.500% 04/01/20250.1%
Marathon Petroleum Corp.5.375% 10/01/20220.1%
Williams Scotsman International Inc7.875% 12/15/20220.1%
Illinois, IL5.100% 06/01/20330.1%
Mohegan Tribal Gaming Authority7.875% 10/15/20240.1%
Discover Financial Services3.850% 11/21/20220.1%
Albertsons Cos LLC / Safeway, Inc. / New Albertson6.625% 06/15/20240.1%
Laredo Petroleum Holdings, Inc.5.625% 01/15/20220.1%
Wells Fargo Commercial Mortgage Trust4.421% 07/15/20460.1%
Government National Mortgage Association2.750% 02/16/20580.1%
Tesoro Logistics L.P.6.250% 10/15/20220.1%
Salem Fields CLO Ltd 2016-24.280% 10/25/20280.1%
ZF North America Capital, Inc.4.000% 04/29/20200.1%
Jamestown CLO VII Ltd.3.880% 07/25/20270.1%
EnCana Corp.0.000% 08/01/20190.1%
Vulcan Materials Co.4.700% 03/01/20480.1%
Newmont Mining Corp.3.625% 06/09/20210.1%
Zimmer Biomet Holdings, Inc.3.375% 11/30/20210.1%
Texas Eastern Transmission L.P.4.125% 12/01/20200.1%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.1%
China Evergrande Group10.000% 04/11/20230.1%
Macquarie Bank Ltd.4.875% 06/10/20250.1%
Worldpay, LLC4.360% 08/09/20240.1%
Oztel Holdings SPC Ltd6.625% 04/24/20280.1%
MEG Energy Corp.6.375% 01/30/20230.1%
Valmont Industries, Inc.5.250% 10/01/20540.1%
Martin Marietta Materials, Inc.3.313% 05/22/20200.1%
AbbVie, Inc.4.700% 05/14/20450.1%
Berry Petroleum Co.7.000% 02/15/20260.1%
Minejesa Capital BV5.625% 08/10/20370.1%
Eterna Capital Pte Ltd7.500% 12/11/20220.1%
CSMC Trust4.373% 09/15/20370.1%
Vedanta Resources plc6.125% 08/09/20240.1%
Yingde Gases Investment Ltd6.250% 01/19/20230.1%
Regatta VI Funding Ltd4.642% 07/20/20280.1%
Synchrony Credit Card Master Note Trust2.820% 10/15/20250.1%
Huntington Bancshares, Inc.5.700% 12/31/20990.1%
Newell Rubbermaid, Inc.3.850% 04/01/20230.1%
Barclays Dryrock Issuance Trust 2016-11.520% 05/16/20220.1%
BWAY Holding Co.7.250% 04/15/20250.1%
Techem Verwaltungsgesellschaft 674 mbH6.000% 07/30/20260.1%
COMM Mortgage Trust4.588% 07/10/20500.1%
Polaris Intermediate Corp8.500% 12/01/20220.1%
Eldorado Resorts, Inc.6.000% 09/15/20260.1%
Charter Communications Operating LLC6.484% 10/23/20450.1%
Infraestructura Energetica Nova SAB de CV4.875% 01/14/20480.1%
Sempra Global0.000% 07/08/20190.1%
Hyundai Capital America1.750% 09/27/20190.1%
Cent CLO Ltd.3.912% 10/29/20250.1%
Nissan Motor Acceptance Corp.3.131% 03/15/20210.1%
JPMBB Commercial Mortgage Securities Trust4.411% 07/15/20480.1%
Government National Mortgage Association2.600% 07/16/20580.1%
Enterprise Products Operating LLC7.550% 04/15/20380.1%
SL Green Realty Corp.4.500% 12/01/20220.1%
Glencore Funding LLC4.125% 05/30/20230.1%
Worldpay, LLC4.383% 01/16/20230.1%
FMC Corp.0.000% 07/03/20190.1%
Spirit Realty LP4.000% 07/15/20290.1%
United Rentals North AM4.148% 10/31/20250.1%
Delphi Automotive plc4.350% 03/15/20290.1%
Palmer Square Loan Funding 2018-1 Ltd3.647% 04/15/20260.1%
SESI LLC7.125% 12/15/20210.1%
Amphenol Corp.0.000% 07/01/20190.1%
Express Scripts Holding Co.6.125% 11/15/20410.1%
VA Electric & Power Co.8.875% 11/15/20380.1%
Red de Carreteras de Occidente SAPIB de CV9.000% 06/10/20280.1%
General Electric Co.3.100% 01/09/20230.1%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.1%
CPG Merger Sub LLC8.000% 10/01/20210.1%
U.S. Treasury Note/Bond2.750% 11/15/20470.1%
MidOcean Credit CLO VI4.425% 01/20/20290.1%
Enterprise Fleet Financing LLC2.870% 10/20/20230.1%
E*TRADE Financial Corp.3.800% 08/24/20270.1%
Northrop Grumman Systems Corp.7.875% 03/01/20260.1%
Park Aerospace Holdings Ltd4.500% 03/15/20230.1%
Panera Bread Company4.188% 07/18/20220.1%
Danske Bank A/S2.800% 03/10/20210.1%
Syngenta Finance NV4.441% 04/24/20230.1%
Weibo Corp.3.500% 07/05/20240.1%
Enbridge US Inc0.000% 07/22/20190.1%
DRB Prime Student Loan Trust3.200% 01/25/20400.1%
Bayer US Finance II LLC3.875% 12/15/20230.1%
Burlington Northern Santa Fe LLC5.750% 05/01/20400.1%
BlueMountain CLO 2013-1 Ltd4.342% 01/20/20290.1%
Canadian Pacific Railway Co.7.125% 10/15/20310.1%
Avery Point CLO Ltd.4.180% 04/25/20260.1%
Royal Caribbean Cruises Ltd.0.000% 08/02/20190.1%
Madison Park Funding XXI Ltd4.110% 07/25/20290.1%
Cigna Corp0.000% 07/18/20190.1%
Eni Finance USA, Inc.0.000% 07/01/20190.1%
Duqesne Light Holdings, Inc.6.400% 09/15/20200.1%
Energy Transfer Operating LP6.125% 12/15/20450.1%
Royal Caribbean Cruises Ltd.0.000% 07/18/20190.1%
Sterigenics-Nordion Topco LLC8.125% 11/01/20210.1%
Constellation Brands, Inc.0.000% 07/17/20190.1%
Fortive Corp.0.000% 07/29/20190.1%
Genesys Telecommunications Laboratories Inc/Greene10.000% 11/30/20240.1%
Palmer Square Loan Funding 2018-1 Ltd3.997% 04/15/20260.1%
BAE Systems Finance Inc7.500% 07/01/20270.1%
Scientific Games International, Inc.10.000% 12/01/20220.1%
Range Resources Corp.5.000% 08/15/20220.0%
Cox Communications, Inc.4.500% 06/30/20430.0%
Illinois, IL4.950% 06/01/20230.0%
Microchip Technology Inc4.330% 05/23/20250.0%
UTEX Industries9.652% 05/22/20220.0%
PTL Finance Corp.3.950% 03/10/20250.0%
Macquarie Bank Ltd./London6.125% 03/08/21670.0%
Lockheed Martin Corp.7.750% 05/01/20260.0%
California Republic Auto Receivables Trust 2015-43.730% 11/15/20210.0%
Hyundai Capital America0.000% 07/01/20190.0%
Citigroup, Inc.5.950% 12/31/20990.0%
ACC Trust 2018-14.820% 05/20/20210.0%
Rede D'or Finance Sarl4.950% 01/17/20280.0%
West Fraser Timber Co. Ltd.4.350% 10/15/20240.0%
Royal Caribbean Cruises Ltd.3.700% 03/15/20280.0%
Doncasters US Finance LLC (Doncasters US LLC)5.830% 04/09/20200.0%
Bill Barrett Corp.7.000% 10/15/20220.0%
Bombardier, Inc.8.750% 12/01/20210.0%
Crown Castle International Corp.0.000% 08/01/20190.0%
Bunge Asset Funding Corp0.000% 07/31/20190.0%
FirstEnergy Transmission LLC4.350% 01/15/20250.0%
Fortive Corp.0.000% 08/01/20190.0%
WGL Holdings, Inc.0.000% 07/10/20190.0%
GS Mortgage Securities Trust4.557% 07/10/20480.0%
Bemis Co., Inc.0.000% 07/01/20190.0%
Southern Star Central Corp.5.125% 07/15/20220.0%
Vodafone Group plc3.750% 01/16/20240.0%
Reynolds American, Inc.4.450% 06/12/20250.0%
Emera US Finance L.P.2.700% 06/15/20210.0%
Joseph T Ryerson & Son, Inc.11.000% 05/15/20220.0%
GS Mortgage Securities Trust1.561% 06/10/20460.0%
Newell Rubbermaid, Inc.5.000% 11/15/20230.0%
CCO Holdings LLC / CCO Holdings Capital Corp.5.250% 03/15/20210.0%
AT&T, Inc.5.350% 09/01/20400.0%
Willis North America, Inc.7.000% 09/29/20190.0%
Dollar General Corp.0.000% 07/01/20190.0%
SCF Equipment Leasing 2017-2 LLC3.410% 12/20/20230.0%
Galaxy XXI CLO Ltd3.612% 04/20/20310.0%
Colfax Corp.0.000% 12/17/20200.0%
Symantec Corp4.483% 08/01/20210.0%
Seneca Park CLO Ltd.3.708% 07/17/20260.0%
Smithfield Foods, Inc.3.350% 02/01/20220.0%
Carrizo Oil & Gas, Inc.6.250% 04/15/20230.0%
Berkshire Hathaway Finance Corp.4.250% 01/15/20490.0%
GS Mortgage Securities Trust0.654% 06/10/20460.0%
Navios South American Logistics Inc / Navios Logis7.250% 05/01/20220.0%
Palmer Square Loan Funding 2018-5 Ltd3.992% 01/20/20270.0%
Santander UK plc5.000% 11/07/20230.0%
Boston Scientific Corp.0.000% 08/29/20190.0%
Studio City Co Ltd7.250% 11/30/20210.0%
NOVA Chemicals Corp.5.250% 08/01/20230.0%
Drive Auto Receivables Trust3.020% 11/15/20210.0%
Drive Auto Receivables Trust3.840% 07/15/20210.0%
Halcyon Loan Advisors Funding Ltd.4.730% 07/25/20270.0%
Santander Drive Auto Receivables Trust 2016-14.020% 04/15/20220.0%
Danske Bank A/S4.375% 06/12/20280.0%
ACC Trust 2018-16.810% 02/21/20230.0%
Apex Credit CLO 2017 Ltd4.531% 04/24/20290.0%
Country Garden Holdings Co. Ltd.4.750% 01/17/20230.0%
Boston Scientific Corp.0.000% 09/16/20190.0%
Campbell Soup Co.0.000% 09/05/20190.0%
Canadian Tire Corp Ltd0.000% 07/05/20190.0%
WGL Holdings, Inc.0.000% 07/26/20190.0%
Equian Buyer Corp. (Equian, LLC)5.652% 05/20/20240.0%
Elanco Animal Health Inc4.900% 08/28/20280.0%
Glencore Funding LLC3.000% 10/27/20220.0%
ConAgra Brands, Inc.0.000% 07/01/20190.0%
Boston Scientific Corp.0.000% 09/17/20190.0%
Apex Credit CLO 2016 Ltd4.432% 10/27/20280.0%
Carrizo Oil & Gas, Inc.8.250% 07/15/20250.0%
CSX Corporation, Inc.7.875% 05/15/20430.0%
Compass Bank3.875% 04/10/20250.0%
Apidos CLO XVI5.592% 01/19/20250.0%
Drive Auto Receivables Trust4.590% 01/17/20230.0%
Lockheed Martin Tactical Systems Inc7.625% 06/15/20250.0%
Drive Auto Receivables Trust4.180% 03/15/20240.0%
Metropolitan Edison Co.4.000% 04/15/20250.0%
Park Aerospace Holdings Ltd5.500% 02/15/20240.0%
Avis Budget Rental Car Funding2.630% 12/20/20210.0%
Illinois, IL5.520% 04/01/20380.0%
Glencore Finance Canada Ltd.4.250% 10/25/20220.0%
International Lease Finance Corp.5.875% 08/15/20220.0%
UTEX Industries6.402% 05/22/20210.0%
Avery Point CLO Ltd.3.568% 07/17/20260.0%
Merrill Lynch Mortgage Investors Trust Series6.250% 10/25/20360.0%
Affiliated Managers Group, Inc.4.250% 02/15/20240.0%
SCANA Corp.6.250% 04/01/20200.0%
Royal Caribbean Cruises Ltd.0.000% 07/30/20190.0%
Walgreen Co.0.000% 07/01/20190.0%
Ashtead Capital, Inc.5.625% 10/01/20240.0%
Government National Mortgage Association0.623% 07/16/20540.0%
IHS Markit Ltd3.625% 05/01/20240.0%
California Republic Auto Receivables Trust1.750% 01/15/20210.0%
General Electric Co.3.375% 03/11/20240.0%
CIT Group, Inc.5.800% 12/31/20990.0%
Kraft Heinz Foods Co.7.125% 08/01/20390.0%
DaVita HealthCare Partners Inc. (fka DaVita Inc.)5.343% 06/24/20210.0%
HudBay Minerals, Inc.7.625% 01/15/20250.0%
McDonald's Corp.6.300% 10/15/20370.0%
Triumph Group, Inc.4.875% 04/01/20210.0%
Canadian Pacific Railway Co.9.450% 08/01/20210.0%
Bayer US Finance II LLC3.500% 06/25/20210.0%
Intesa Sanpaolo SpA6.500% 02/24/20210.0%
Pyxus International Inc9.875% 07/15/20210.0%
Frontier Communications Corp.8.500% 04/15/20200.0%
Affiliated Managers Group, Inc.3.500% 08/01/20250.0%
Hudsons Bay Simon JV Trust0.723% 08/05/20340.0%
Union Pacific Corp.0.000% 07/01/20190.0%
El Paso Electric Co.6.000% 05/15/20350.0%
Kilroy Realty L.P.4.375% 10/01/20250.0%
General Electric Co.3.450% 05/15/20240.0%
Hawaiian Electric Co., Inc.0.000% 07/29/20190.0%
Piaggio & C SpA3.625% 04/30/20250.0%
OneMain Financial Issuance Trust 2016-1A3.660% 02/20/20290.0%
Oncor Electric Delivery Co. LLC7.500% 09/01/20380.0%
RELX Investments PLC0.000% 07/01/20190.0%
Kinetic Concepts, Inc. / KCI USA, Inc.12.500% 11/01/20210.0%
PG&E Corp5.029% 12/31/20200.0%
Boston Scientific Corp.0.000% 07/24/20190.0%
WFRBS Commercial Mortgage Trust1.138% 05/15/20470.0%
NXP BV / NXP Funding LLC3.875% 09/01/20220.0%
Southern California Edison Co.0.000% 07/01/20190.0%
GS Mortgage Securities Trust0.330% 11/10/20480.0%
Range Resources Corp.5.875% 07/01/20220.0%
Cox Communications, Inc.4.700% 12/15/20420.0%
Avis Budget Rental Car Funding2.460% 07/20/20200.0%
Valero Energy Corp.7.500% 04/15/20320.0%
Anheuser-Busch InBev Worldwide, Inc.8.200% 01/15/20390.0%
HudBay Minerals, Inc.7.250% 01/15/20230.0%
Chaparral Energy, Inc.0.000% -0.0%
Access Point Funding I 2017-1 LLC3.060% 04/15/20290.0%
Bayer US Finance II LLC2.750% 07/15/20210.0%
Oncor Electric Delivery Co. LLC7.000% 05/01/20320.0%
Sequoia Mortgage Trust 2012-42.069% 09/25/20420.0%
Mylan, Inc.0.000% 07/01/20190.0%
Boston Scientific Corp.0.000% 08/12/20190.0%
Glencore Funding LLC4.125% 03/12/20240.0%
Teva Pharmaceutical Finance Co. B.V.3.650% 11/10/20210.0%
Public Service Co. of New Mexico3.850% 08/01/20250.0%
NRG Yield, Inc.3.250% 06/01/20200.0%
Hudsons Bay Simon JV Trust0.665% 08/05/20340.0%
Energy Transfer Partners LP / Regency Energy Finan5.000% 10/01/20220.0%
Huntington Auto Trust1.590% 11/16/20200.0%
Doncasters US Finance LLC (Doncasters US LLC)10.580% 10/09/20200.0%
Doncasters US Finance LLC (Doncasters US LLC)10.580% 10/09/20200.0%
Sherwin-Williams Co.0.000% 07/09/20190.0%
TCF Auto Receivables Owner Trust3.530% 03/15/20220.0%
Pentair Finance SA0.000% 07/01/20190.0%
BAT International Finance plc0.000% 07/02/20190.0%
BAT International Finance plc0.000% 07/03/20190.0%
Boston Scientific Corp.0.000% 07/30/20190.0%
CVS Caremark Corp.5.050% 03/25/20480.0%
Reynolds Group Issuer, Inc.6.875% 02/15/20210.0%
Mattel, Inc.2.350% 08/15/20210.0%
Altice Luxembourg SA7.750% 05/15/20220.0%
Antero Resources Corp.5.125% 12/01/20220.0%
Interstate Power & Light Co4.700% 10/15/20430.0%
Fiat Chrysler Automobiles N.V.5.250% 04/15/20230.0%
Glencore Funding LLC2.875% 04/16/20200.0%
Diamond Resorts Owner Trust3.080% 11/20/20280.0%
Canadian National Railway Co.7.375% 10/15/20310.0%
Canadian Oil Sands Ltd.4.500% 04/01/20220.0%
MEG Energy Corp.6.500% 01/15/20250.0%
Trinity Acquisition plc4.625% 08/15/20230.0%
PG&E Corp5.029% 12/31/20200.0%
APX Group, Inc.8.750% 12/01/20200.0%
Nationstar Mortgage LLC / Nationstar Capital Corp.6.500% 07/01/20210.0%
Templar Energy LLC0.000% -0.0%
JPMBB Commercial Mortgage Securities Trust0.955% 04/15/20470.0%
Union Pacific Corp.6.625% 02/01/20290.0%
WFRBS Commercial Mortgage Trust0.736% 05/15/20470.0%
CSX Corp.6.000% 10/01/20360.0%
JPMBB Commercial Mortgage Securities Trust0.460% 04/15/20470.0%
DOMMO ENERGIA SA-SP ADR0.000% -0.0%
Afren plc10.250% 04/08/20190.0%
Eneva SA0.000% -0.0%
Federal Home Loan Mortgage Corp.0.000% 08/15/20220.0%
Afren plc6.625% 12/09/20200.0%
Federal Home Loan Mortgage Corp.0.000% 09/15/20220.0%
Federal Home Loan Mortgage Corp.1010.500% 02/15/20210.0%
Federal Home Loan Mortgage Corp.982.654% 04/15/20220.0%
Federal Home Loan Mortgage Corp.1008.500% 04/15/20210.0%
Federal National Mortgage Assoc.0.000% 04/25/20220.0%
Federal Home Loan Mortgage Corp.0.000% 06/15/20210.0%
Federal Home Loan Mortgage Corp.0.000% 10/15/20210.0%
Federal Home Loan Mortgage Corp.1195.607% 04/15/20210.0%
Federal Home Loan Mortgage Corp.0.000% 07/01/20220.0%
Federal Home Loan Mortgage Corp.1008.400% 11/15/20210.0%
Federal National Mortgage Assoc.1008.000% 12/25/20210.0%
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.900.950% 12/15/20200.0%
Federal Home Loan Mortgage Corp.1007.780% 05/15/20210.0%
Federal Home Loan Mortgage Corp.409.000% 04/15/20210.0%
Federal National Mortgage Assoc.9.500% 08/25/20210.0%
Federal Home Loan Mortgage Corp.1007.000% 02/15/20220.0%
OGX Austria GmbH8.500% 06/01/20190.0%
US LONG BOND(CBT) SEP190.000% 09/30/20190.0%
US ULTRA BOND CBT SEP190.000% 09/30/20190.0%
US 10YR NOTE (CBT)SEP190.000% 09/30/20190.0%
FX USD/MXN 08/190.000% 08/14/20190.0%
Templar Energy LLC0.000% -0.0%
EURO-SCHATZ FUT SEP190.000% 09/10/20190.0%
Federal Home Loan Mortgage Corp.1009.000% 02/15/20210.0%
US 2YR NOTE (CBT) SEP190.000% 10/03/20190.0%
US 10YR ULTRA FUT SEP190.000% 09/30/20190.0%
US 5YR NOTE (CBT) SEP190.000% 10/03/20190.0%
FX USD/EUR 09/190.000% 09/09/20190.0%
FX USD/EUR 09/190.000% 09/09/20190.0%
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 08/16/2019
$0.070
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
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 08/31/2019
Daily Daily 09/30/2019
Daily Daily 10/31/2019
Daily Daily 11/30/2019
Daily Daily 12/31/2019

Fees & Expenses

Fees & Expenses

Expense Ratioas of 07/31/2019

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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