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Income Fund

Daily price w/o sales charge as of 05/17/2019

$2.81

$0.00

YTD Returns w/o sales charge as of 05/17/2019

6.00%

Overall Morningstar Ratings

Corporate Bond
as of 04/30/2019

Morningstar rated the Lord Abbett Income Fund class R3 share 4, 3 and 4 stars among 153, 131 and 80 Corporate Bond Funds for the overall rating and the 3, 5 and 10 year periods ended 4/30/2019, respectively.

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 05/17/2019  

w/o sales charge 3.80%

30-Day Standardized Yield 2 as of 04/30/2019  

3.30%

Fund Basicsas of 04/30/2019

Total Net Assets
$2.25 B
Inception Date
07/02/2008
Dividend Frequency
Monthly
Fund Expense Ratio
1.07%
Number of Holdings
630

Fund Expense Ratio :

1.07%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/02/2008
w/o sales charge 5.82% 5.09% 4.09% 3.13% 6.82% 5.90%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 5.39% 5.69% 3.10% 3.09% 5.96% -
Bloomberg Barclays U.S. Credit Bond Index 5.39% 6.38% 3.23% 3.46% 5.98% 5.34%

Fund Expense Ratio :

1.07%

Fund Expense Ratio :

1.07%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/02/2008
w/o sales charge 4.73% 3.24% 4.48% 3.21% 7.31% 5.85%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 4.91% 4.35% 3.46% 3.24% 6.20% -
Bloomberg Barclays U.S. Credit Bond Index 4.87% 4.89% 3.48% 3.61% 6.22% 5.33%

Fund Expense Ratio :

1.07%

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

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 04/30/2019 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 05/17/2019  

w/o sales charge 3.80%

30-Day Standardized Yield 2 as of 04/30/2019  

  Subsidized5 Un-Subsidized6
w/o sales charge 3.30% 3.30%

Fund Expense Ratio :

1.07%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/02/2008
w/o sales charge 5.82% 5.09% 4.09% 3.13% 6.82% 5.90%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 5.39% 5.69% 3.10% 3.09% 5.96% -
Bloomberg Barclays U.S. Credit Bond Index 5.39% 6.38% 3.23% 3.46% 5.98% 5.34%

Fund Expense Ratio :

1.07%

Fund Expense Ratio :

1.07%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/02/2008
w/o sales charge 4.73% 3.24% 4.48% 3.21% 7.31% 5.85%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 4.91% 4.35% 3.46% 3.24% 6.20% -
Bloomberg Barclays U.S. Credit Bond Index 4.87% 4.89% 3.48% 3.61% 6.22% 5.33%

Fund Expense Ratio :

1.07%

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

Year Fund Returns Bloomberg Barclays U.S. Credit Bond Index
2018 -2.96% -2.11%
2017 6.60% 6.18%
2016 8.39% 5.63%
2015 -3.35% -0.77%
2014 6.91% 7.53%
2013 0.00% -2.01%
2012 12.57% 9.37%
2011 5.89% 8.35%
2010 10.93% 8.47%
2009 30.11% 16.04%
2008 -10.33% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 4.73% - - - 6.02%
2018 -1.55% -0.83% 0.60% -1.19% -2.96%
2017 1.89% 2.22% 1.17% 1.17% 6.60%
2016 2.99% 4.27% 2.66% -1.68% 8.39%
2015 1.75% -1.79% -2.16% -1.15% -3.35%
2014 3.64% 3.55% -0.59% 0.21% 6.91%
2013 1.13% -3.58% 0.50% 2.04% 0.00%
2012 4.06% 1.21% 4.61% 2.17% 12.57%
2011 1.96% 2.28% -0.49% 2.04% 5.89%
2010 3.31% 2.11% 5.31% -0.15% 10.93%
2009 3.05% 13.22% 9.13% 2.19% 30.11%
2008 1.11% 0.50% -6.10% -6.03% -10.33%

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 04/30/2019

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 03/31/2019

  • Following the increased volatility and spread widening that occurred at the end of 2018, we increased the portfolio’s exposure to investment grade corporate bonds, maintaining a focus on the “BBB” credit tier. In the beginning of the first quarter of 2019, we reduced our exposure to high grade credit as the sector recovered.
  • Although we hold an underweight relative to the portfolio’s benchmark, the financials sector remains the largest absolute weight in the portfolio. We remain attracted to the sector as its quality profile has improved relative to pre-crisis periods given more robust underlying mortgage assets, more conservative management teams, and stricter regulations.
  • The portfolio has an overweight position to securities within the utilities sector. We believe corporate bonds within this defensive sector offer attractive yield opportunities while mitigating downside risks due to their non-cyclical mandate and heavy regulations, which limit leverage.
  • The portfolio is overweight the energy sector. Generally, we take a bottom-up, selective approach to this sector and remain attracted to improving credits and those that may benefit from an increase in oil prices.
  • While current headwinds to investment grade corporate bonds exist in the form of fallen angels, leverage risk, and late cycle concerns, we believe these risks have been overstated. We maintain a positive outlook on U.S. domestic growth and are cautiously optimistic in the U.S. economy. In response to the Fed’s dovish policy stance, we believe it will take a significant amount of economic growth, a tight labor market, and a pick-up in inflation for the Fed to resume tightening. Therefore, we believe volatility will remain subdued and risk assets will benefit.

Portfolio Details as of 04/30/2019

Total Net Assets
$2.25 B
Number of Issues
630
Average Coupon
5.06%
Average Life
8.10 Years
Average Maturity
8.10 Years
Average Effective Duration
6.10 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 2.125% 03/31/2024 1.4%
AT&T, Inc. 6.000% 08/15/2040 1.2%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl 4.700% 02/01/2036 1.2%
J.P.Morgan Securities LLC 0.010% - 1.1%
CVS Caremark Corp. 4.300% 03/25/2028 1.0%
U.S. Treasury Note/Bond 2.625% 02/15/2029 1.0%
General Motors Co. 6.750% 04/01/2046 0.9%
GE Capital International Funding Co. 4.418% 11/15/2035 0.8%
Tencent Holdings Ltd. 3.595% 01/19/2028 0.8%
Ford Motor Co. 7.450% 07/16/2031 0.7%
% of Total Assets 10.1%

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
U.S. Treasury Note/Bond2.500% 01/31/20241.3%
AT&T, Inc.6.000% 08/15/20401.2%
U.S. Treasury Note/Bond2.625% 02/15/20291.1%
CVS Caremark Corp.4.300% 03/25/20281.1%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl4.700% 02/01/20361.0%
U.S. Treasury Note/Bond2.125% 03/31/20240.9%
Verizon Communications, Inc.4.862% 08/21/20460.9%
Ford Motor Co.7.450% 07/16/20310.8%
GE Capital International Funding Co.4.418% 11/15/20350.8%
Tencent Holdings Ltd.3.595% 01/19/20280.8%
General Motors Co.6.750% 04/01/20460.7%
NBCUniversal Enterprise, Inc.5.250% 06/19/20990.7%
UBS AG Registered Shares5.125% 05/15/20240.7%
Time Warner Cable LLC7.300% 07/01/20380.7%
Kinder Morgan, Inc.7.750% 01/15/20320.7%
Universal Health Services, Inc.4.750% 08/01/20220.7%
Helmerich & Payne, Inc.4.650% 03/15/20250.6%
Citigroup, Inc.3.887% 01/10/20280.6%
Teachers Insurance & Annuity Association of Americ4.900% 09/15/20440.6%
ENI SpA5.700% 10/01/20400.6%
Continental Resources, Inc.5.000% 09/15/20220.6%
Valero Energy Corp.10.500% 03/15/20390.6%
Bank of Ireland Group PLC4.125% 09/19/20270.6%
Sabine Pass Liquefaction LLC5.625% 04/15/20230.5%
PSEG Power LLC8.625% 04/15/20310.5%
Nvent Finance Sarl4.550% 04/15/20280.5%
Dell International LLC / EMC Corp.8.350% 07/15/20460.5%
NXP BV / NXP Funding LLC4.625% 06/01/20230.5%
Bank of America Corp.4.450% 03/03/20260.5%
Goldman Sachs Group, Inc.6.750% 10/01/20370.4%
UBS AG7.625% 08/17/20220.4%
PHEAA Student Loan Trust 2016-13.636% 09/25/20650.4%
CNH Capital LLC4.375% 04/05/20220.4%
Cox Communications, Inc.8.375% 03/01/20390.4%
Sabine Pass Liquefaction LLC5.875% 06/30/20260.4%
Goldcorp, Inc.3.700% 03/15/20230.4%
Baidu, Inc.3.875% 09/29/20230.4%
Wells Fargo Capital X5.950% 12/15/20360.4%
Apache Corp.5.100% 09/01/20400.4%
Bank of America Corp.3.824% 01/20/20280.4%
Volkswagen Group of America Finance LLC4.750% 11/13/20280.4%
Bacardi Ltd.4.700% 05/15/20280.4%
Yara International ASA7.875% 06/11/20190.4%
AT&T, Inc.6.350% 03/15/20400.4%
Myriad International Holdings BV6.000% 07/18/20200.4%
Vodafone Group plc4.375% 05/30/20280.4%
Broadcom Corp. / Broadcom Cayman Finance Ltd.3.875% 01/15/20270.4%
EPR Properties4.950% 04/15/20280.4%
TransAlta Corp.4.500% 11/15/20220.4%
Kerr-McGee Corp.7.875% 09/15/20310.4%
Exelon Generation Co. LLC6.250% 10/01/20390.4%
BAT Capital Corp4.390% 08/15/20370.4%
Bermuda Government International Bond3.717% 01/25/20270.4%
Fresenius Medical Care US Finance II, Inc.5.875% 01/31/20220.4%
North Texas Tollway Auth8.910% 02/01/20300.4%
Santander Drive Auto Receivables Trust 2015-24.020% 09/15/20220.4%
Navient Corp.6.750% 06/25/20250.4%
American Airlines Class B Pass Through Trust4.375% 10/01/20220.4%
Energy Transfer Operating LP6.250% 04/15/20490.4%
CNO Financial Group, Inc.5.250% 05/30/20250.4%
CVS Caremark Corp.0.000% 04/01/20190.4%
Motiva Enterprises LLC5.750% 01/15/20200.3%
Morgan Stanley3.875% 01/27/20260.3%
Capital Auto Receivables Asset Trust 2018-12.790% 01/20/20220.3%
VEREIT Operating Partnership L.P.4.875% 06/01/20260.3%
Commonwealth Bank of Australia4.500% 12/09/20250.3%
Protective Life Corp.8.450% 10/15/20390.3%
CNAC HK Finbridge Co Ltd3.000% 07/19/20200.3%
CRH America Finance, Inc.3.950% 04/04/20280.3%
Santander UK plc7.950% 10/26/20290.3%
Carnival plc7.875% 06/01/20270.3%
Wabtec Corp.4.700% 09/15/20280.3%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.3%
Canadian Natural Resources Ltd.7.200% 01/15/20320.3%
Universal Health Services, Inc.5.000% 06/01/20260.3%
National Fuel Gas Co.3.750% 03/01/20230.3%
Trimble Navigation Ltd.4.900% 06/15/20280.3%
AerCap Ireland Capital Ltd.3.500% 01/15/20250.3%
PVH Corp.7.750% 11/15/20230.3%
Williams Cos., Inc.8.750% 03/15/20320.3%
Midcontinent Express Pipeline LLC6.700% 09/15/20190.3%
Air Lease Corp.3.625% 04/01/20270.3%
Aon plc8.205% 01/01/20270.3%
Anglo American Capital plc4.750% 04/10/20270.3%
IFM US Colonial Pipeline 2 LLC6.450% 05/01/20210.3%
Warner Media LLC6.200% 03/15/20400.3%
MPT Operating Partnership L.P.5.000% 10/15/20270.3%
Time Warner Entertainment Co. L.P.8.375% 07/15/20330.3%
Woodside Finance Ltd.4.500% 03/04/20290.3%
Drive Auto Receivables Trust 2019-22.930% 03/15/20220.3%
Energy Transfer Partners L.P.0.000% 04/01/20190.3%
Electricite de France SA5.000% 09/21/20480.3%
Enbridge US Inc0.000% 04/08/20190.3%
The Royal Bank of Scotland Group PLC3.875% 09/12/20230.3%
Hilcorp Energy L.P. / Hilcorp Finance Co.6.250% 11/01/20280.3%
GM Financial Automobile Leasing Trust 2017-32.010% 11/20/20200.3%
Boston Scientific Corp.0.000% 04/23/20190.3%
General Electric Co.2.700% 10/09/20220.3%
Fresenius Medical Care US Finance II, Inc.4.750% 10/15/20240.3%
Dell International LLC / EMC Corp6.020% 06/15/20260.3%
Tech Data Corp.3.700% 02/15/20220.3%
Fidelity National Financial Group4.500% 08/15/20280.3%
Midwest Connector Capital Co LLC3.900% 04/01/20240.3%
Glencore Finance Canada Ltd.5.550% 10/25/20420.3%
Caesars Palace Las Vegas Trust 2017-VICI3.531% 10/15/20340.3%
Macquarie Group Ltd.4.654% 03/27/20290.3%
Anheuser-Busch InBev Worldwide, Inc.4.750% 01/23/20290.3%
International Lease Finance Corp.5.875% 04/01/20190.3%
American Airlines Class B Pass Through Trust5.600% 07/15/20200.3%
People's United Financial, Inc.3.650% 12/06/20220.3%
Cleco Power LLC6.000% 12/01/20400.3%
Halliburton Co.7.450% 09/15/20390.3%
Kinross Gold Corp.4.500% 07/15/20270.3%
DBWF 2018-AMXP Mortgage Trust3.791% 05/05/20350.3%
American Homes 4 Rent LP4.250% 02/15/20280.3%
Drive Auto Receivables Trust 2017-12.840% 04/15/20220.3%
Citigroup, Inc.3.668% 07/24/20280.3%
Discover Bank3.450% 07/27/20260.2%
Credit Suisse AG6.500% 08/08/20230.2%
Total System Services, Inc.4.800% 04/01/20260.2%
California Republic Auto Receivables Trust2.530% 06/15/20210.2%
Enel Finance International N.V.2.750% 04/06/20230.2%
Neuberger Berman Group LLC4.875% 04/15/20450.2%
Kraft Heinz Foods Co.6.875% 01/26/20390.2%
American Airlines Class B Pass Through Trust5.625% 01/15/20210.2%
Embraer Overseas Ltd.5.696% 09/16/20230.2%
SCANA Corp.4.125% 02/01/20220.2%
Dominion Resources, Inc.7.000% 06/15/20380.2%
International Paper Co.7.300% 11/15/20390.2%
Cimarex Energy Co.4.375% 03/15/20290.2%
U.S. Treasury Note/Bond2.875% 11/15/20210.2%
GATX Corp.4.550% 11/07/20280.2%
Venture XXIV CLO Ltd4.811% 10/20/20280.2%
Ammc Clo 19 Ltd.4.287% 10/15/20280.2%
Smithfield Foods, Inc.5.200% 04/01/20290.2%
JB y Co SA de CV3.750% 05/13/20250.2%
Webster Financial Corp.4.100% 03/25/20290.2%
Union Pacific Corp.0.000% 04/01/20190.2%
NASDAQ OMX Group, Inc.0.000% 04/02/20190.2%
Alibaba Group Holding Ltd.3.400% 12/06/20270.2%
ICG US CLO 2015-2 Ltd3.629% 01/16/20280.2%
BlueMountain CLO 2016-1 Ltd4.111% 04/20/20270.2%
FirstEnergy Transmission LLC4.550% 04/01/20490.2%
Discover Bank4.682% 08/09/20280.2%
IHS Markit Ltd4.000% 03/01/20260.2%
Avery Point VII CLO Ltd4.287% 01/15/20280.2%
Hardee's Funding LLC4.959% 06/20/20480.2%
Government National Mortgage Association2.600% 06/16/20570.2%
Walt Disney Co/The7.750% 12/01/20450.2%
Royal Caribbean Cruises Ltd.7.500% 10/15/20270.2%
Brixmor Operating Partnership L.P.3.850% 02/01/20250.2%
Entergy Corp.0.000% 04/01/20190.2%
AutoNation, Inc.0.000% 04/11/20190.2%
Leidos, Inc.7.125% 07/01/20320.2%
National Oilwell Varco, Inc.3.950% 12/01/20420.2%
AerCap Ireland Capital Ltd.3.650% 07/21/20270.2%
Macquarie Bank Ltd.6.625% 04/07/20210.2%
Hanover Insurance Group, Inc.4.500% 04/15/20260.2%
Origin Energy Finance Ltd.5.450% 10/14/20210.2%
Netflix, Inc.3.625% 05/15/20270.2%
Phosagro OAO via Phosagro Bond Funding Ltd3.949% 04/24/20230.2%
Cleco Corp.4.973% 05/01/20460.2%
Bombardier, Inc.6.125% 01/15/20230.2%
OHA Loan Funding 2016-1 Ltd4.561% 01/20/20280.2%
Enbridge, Inc.6.000% 01/15/20770.2%
Baidu, Inc.3.625% 07/06/20270.2%
Freeport-McMoRan, Inc.5.450% 03/15/20430.2%
World Financial Network Credit Card Master Trust2.030% 04/15/20250.2%
Saka Energi Indonesia PT4.450% 05/05/20240.2%
Palmer Square Loan Funding 2018-1 Ltd3.387% 04/15/20260.2%
SunTrust Auto Receivables Trust3.240% 01/16/20230.2%
GS Mortgage Securities Corp Trust 2018-FBLU5.234% 11/15/20350.2%
Royal Caribbean Cruises Ltd.5.250% 11/15/20220.2%
Glencore Funding LLC0.000% 04/09/20190.2%
VEREIT Operating Partnership L.P.3.950% 08/15/20270.2%
Sempra Energy4.000% 02/01/20480.2%
Telefonica Emisiones SAU5.520% 03/01/20490.2%
Conn's Receivables Funding 2017-B LLC5.950% 11/15/20220.2%
Neuberger Berman Group LLC4.500% 03/15/20270.2%
Santander Drive Auto Receivables Trust 2014-54.230% 04/15/20220.2%
Nationstar Mortgage Holdings, Inc.9.125% 07/15/20260.2%
Expedia, Inc.5.000% 02/15/20260.2%
Morgan Stanley3.811% 05/08/20240.2%
Intesa Sanpaolo SpA5.710% 01/15/20260.2%
Discover Financial Services4.100% 02/09/20270.2%
Southern Copper Corp.5.250% 11/08/20420.2%
Roper Industries, Inc.3.850% 12/15/20250.2%
Abu Dhabi National Energy Co.4.875% 04/23/20300.2%
Hudson Pacific Properties LP4.650% 04/01/20290.2%
Energy Transfer Operating LP8.250% 11/15/20290.2%
Flagship Credit Auto Trust 2019-14.080% 02/18/20250.2%
National Fuel Gas Co.4.900% 12/01/20210.2%
WestRock Co.0.000% 04/02/20190.2%
Gazprom OAO Via Gaz Capital SA4.950% 02/06/20280.2%
BBVA Bancomer SA5.125% 01/18/20330.2%
Bemis Co., Inc.0.000% 04/02/20190.2%
Constellation Brands, Inc.0.000% 05/08/20190.2%
RPI Finance Trust4.776% 03/27/20230.2%
BMW Vehicle Lease Trust 2019-12.790% 03/22/20210.2%
Calpine Corp.5.500% 02/01/20240.2%
Spectra Energy Partners L.P.3.451% 06/05/20200.2%
Vulcan Materials Co.3.276% 03/01/20210.2%
American Axle & Manufacturing, Inc.6.500% 04/01/20270.2%
BWAY Holding Co.7.250% 04/15/20250.2%
Embraer Netherlands Finance BV5.050% 06/15/20250.2%
Pentair Finance SA2.650% 12/01/20190.2%
OM Asset Management plc4.800% 07/27/20260.2%
Kennametal, Inc.4.625% 06/15/20280.2%
Oasis Petroleum, Inc.6.875% 03/15/20220.2%
Mylan, Inc.4.550% 04/15/20280.2%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.2%
Santander UK Group Holdings plc3.823% 11/03/20280.2%
TIBCO Software, Inc.11.375% 12/01/20210.2%
Zimmer Biomet Holdings, Inc.5.750% 11/30/20390.2%
Northwell Healthcare, Inc.3.979% 11/01/20460.2%
World Financial Network Credit Card Master Trust2.660% 08/15/20240.2%
Santander Drive Auto Receivables Trust 2015-23.020% 04/15/20210.2%
Capital Auto Receivables Asset Trust3.340% 03/22/20210.2%
Centene Corp.5.625% 02/15/20210.2%
Caesars Palace Las Vegas Trust 2017-VICI3.835% 10/15/20340.2%
Foursight Capital Automobile Receivables Trust 2014.190% 11/15/20230.2%
Healthcare Trust of America Holdings LP2.950% 07/01/20220.2%
Oglethorpe Power Corp.5.050% 10/01/20480.2%
Selective Insurance Group, Inc.5.375% 03/01/20490.2%
Royal Caribbean Cruises Ltd.0.000% 04/01/20190.2%
Bank of Montreal3.803% 12/15/20320.2%
Mississippi Power Co.4.250% 03/15/20420.2%
Centene Corp.5.375% 06/01/20260.2%
Bayer Corp6.650% 02/15/20280.2%
Barrick International Barbados Corp.6.350% 10/15/20360.2%
Barclays Bank plc10.179% 06/12/20210.2%
Lincoln National Corp.7.000% 06/15/20400.2%
Tenneco, Inc.5.000% 07/15/20260.1%
Walgreen Co.0.000% 04/01/20190.1%
Westpac Banking Corp.4.322% 11/23/20310.1%
Sigma Alimentos S.A. de C.V.4.125% 05/02/20260.1%
Burlington Northern Santa Fe LLC6.150% 05/01/20370.1%
Country Garden Holdings Co. Ltd.4.750% 09/28/20230.1%
Silversea Cruise Finance Ltd.7.250% 02/01/20250.1%
Exelon Generation Co. LLC5.600% 06/15/20420.1%
Unum Group5.750% 08/15/20420.1%
GCI LLC6.875% 04/15/20250.1%
McDonald's Corp.6.300% 03/01/20380.1%
Harris Corp.4.400% 06/15/20280.1%
L-3 Communications Corp.4.400% 06/15/20280.1%
United Rentals, Inc.4.875% 01/15/20280.1%
Republic of Argentina4.625% 01/11/20230.1%
WeWork Cos Inc7.875% 05/01/20250.1%
CNH Capital LLC4.875% 04/01/20210.1%
Level 3 Parent LLC5.750% 12/01/20220.1%
NGPL Pipeco LLC4.875% 08/15/20270.1%
Duqesne Light Holdings, Inc.6.250% 08/15/20350.1%
Vale Overseas Ltd.6.250% 08/10/20260.1%
CNAC HK Finbridge Co Ltd3.500% 07/19/20220.1%
Puget Energy, Inc.3.650% 05/15/20250.1%
Edison International4.125% 03/15/20280.1%
Appalachian Power Co.7.000% 04/01/20380.1%
NASDAQ OMX Group, Inc.0.000% 04/01/20190.1%
Constellation Brands, Inc.0.000% 04/22/20190.1%
Pacific Gas & Electric Co.6.050% 03/01/20340.1%
Ryder System, Inc.0.000% 04/26/20190.1%
WGL Holdings, Inc.0.000% 04/24/20190.1%
Williams Cos., Inc.0.000% 04/29/20190.1%
Thacher Park CLO Ltd.3.921% 10/20/20260.1%
NextGear Floorplan Master Owner Trust2.740% 04/15/20210.1%
Chaparral Energy, Inc.8.750% 07/15/20230.1%
Indika Energy Capital III Pte Ltd5.875% 11/09/20240.1%
Time Warner Cable LLC6.550% 05/01/20370.1%
Fluor Corp.4.250% 09/15/20280.1%
Florida Gas Transmission Co., LLC3.875% 07/15/20220.1%
SCE Trust III0.000% -0.1%
Hyundai Capital America2.000% 07/01/20190.1%
Peabody Energy Corp.6.000% 03/31/20220.1%
Expedia, Inc.3.800% 02/15/20280.1%
AerCap Ireland Capital Ltd.4.875% 01/16/20240.1%
E*TRADE Financial Corp.4.500% 06/20/20280.1%
General Electric Co.3.150% 09/07/20220.1%
Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor4.080% 12/15/20470.1%
Titan International, Inc.6.500% 11/30/20230.1%
Benefit Street Partners CLO IV Ltd4.811% 01/20/20290.1%
Bowman Park CLO Ltd.3.831% 11/23/20250.1%
FedEx Corp.4.950% 10/17/20480.1%
New Gold, Inc.6.250% 11/15/20220.1%
Campbell Soup Co.3.800% 08/02/20420.1%
CIT Group, Inc.6.125% 03/09/20280.1%
PPL WEM Ltd./Western Power Distribution Ltd.5.375% 05/01/20210.1%
US Cellular Corp.6.700% 12/15/20330.1%
Seven Generations Energy Ltd.6.875% 06/30/20230.1%
Marvell Technology Group Ltd.4.200% 06/22/20230.1%
General Electric Co.5.300% 02/11/20210.1%
Magnetite XI Ltd3.900% 01/18/20270.1%
Norfolk Southern Corp.5.590% 05/17/20250.1%
William Lyon Homes, Inc.7.000% 08/15/20220.1%
Turkiye Vakiflar Bankasi Tao5.750% 01/30/20230.1%
Scientific Games International, Inc.6.625% 05/15/20210.1%
National Fuel Gas Co.3.950% 09/15/20270.1%
Sabal Trail Transmission LLC4.246% 05/01/20280.1%
T-Mobile USA, Inc.6.000% 04/15/20240.1%
Energy Transfer Operating LP9.000% 11/01/20240.1%
SCANA Corp.4.750% 05/15/20210.1%
CPS Auto Trust4.610% 12/15/20220.1%
Electricite de France SA5.625% 01/22/21640.1%
North Texas Tollway Auth8.410% 02/01/20300.1%
Bombardier, Inc.7.500% 03/15/20250.1%
Precision Drilling Corp.5.250% 11/15/20240.1%
Cedar Funding VI CLO Ltd4.361% 10/20/20280.1%
Humana, Inc.0.000% 04/12/20190.1%
Hunt Cos Inc6.250% 02/15/20260.1%
ZF North America Capital, Inc.4.750% 04/29/20250.1%
Wyndham Hotels & Resorts3.972% 03/28/20250.1%
Reynolds Group Issuer, Inc.5.750% 10/15/20200.1%
Itron, Inc.5.000% 01/15/20260.1%
Wabash National Corp.5.500% 10/01/20250.1%
Litton Industries, Inc.7.750% 03/15/20260.1%
Mountain Hawk III CLO Ltd.3.980% 04/18/20250.1%
General Electric Co.2.962% 05/05/20260.1%
Mountain View CLO X Ltd4.147% 10/13/20270.1%
Cleveland Electric Illuminating Co.3.500% 04/01/20280.1%
Rayonier AM Products, Inc.5.500% 06/01/20240.1%
Standard Chartered plc4.247% 01/20/20230.1%
SURA Asset Management SA4.375% 04/11/20270.1%
Air Canada 2015-2 Class B Pass Through Trust5.000% 12/15/20230.1%
MMC Norilsk Nickel OJSC via MMC Finance Ltd.4.100% 04/11/20230.1%
Citigroup, Inc.4.600% 03/09/20260.1%
Government National Mortgage Association2.700% 07/16/20570.1%
Acwa Power Management And Investments One Ltd5.950% 12/15/20390.1%
Enable Midstream Partners L.P.0.000% 04/01/20190.1%
Griffon Corp.5.250% 03/01/20220.1%
Solera Finance, Inc.10.500% 03/01/20240.1%
Interstate Power & Light Co3.600% 04/01/20290.1%
Caesars Palace Las Vegas Trust 2017-VICI4.138% 10/15/20340.1%
SESI LLC7.125% 12/15/20210.1%
Mohegan Tribal Gaming Authority7.875% 10/15/20240.1%
SL Green Operating Partnership L.P.3.250% 10/15/20220.1%
YPF S.A.6.950% 07/21/20270.1%
Lloyds Bank plc6.500% 09/14/20200.1%
Marathon Petroleum Corp.5.375% 10/01/20220.1%
Teck Resources Ltd.8.500% 06/01/20240.1%
Tesoro Logistics L.P.6.250% 10/15/20220.1%
Williams Scotsman International Inc7.875% 12/15/20220.1%
Palmer Square Loan Funding 2017-1 Ltd4.487% 10/15/20250.1%
Banco Mercantil del Norte SA/Grand Cayman7.625% 07/06/21670.1%
Popular, Inc.6.125% 09/14/20230.1%
Citizens Financial Group, Inc.4.150% 09/28/20220.1%
ZF North America Capital, Inc.4.000% 04/29/20200.1%
EPR Properties4.500% 04/01/20250.1%
Yum! Brands, Inc.6.875% 11/15/20370.1%
Discover Financial Services3.850% 11/21/20220.1%
KazMunayGas National Co.6.375% 10/24/20480.1%
Newmont Mining Corp.5.125% 10/01/20190.1%
Jamestown CLO VII Ltd.4.071% 07/25/20270.1%
Surgery Center Holdings, Inc.8.875% 04/15/20210.1%
Albertsons Cos LLC / Safeway, Inc. / New Albertson6.625% 06/15/20240.1%
Continental Resources, Inc.4.900% 06/01/20440.1%
Salem Fields CLO Ltd 2016-24.471% 10/25/20280.1%
Texas Eastern Transmission L.P.4.125% 12/01/20200.1%
Mattel, Inc.6.750% 12/31/20250.1%
EnCana Corp.6.500% 05/15/20190.1%
Molson Coors Brewing Co.0.000% 04/01/20190.1%
CNH Capital LLC0.000% 04/02/20190.1%
Sherwin-Williams Co.0.000% 04/02/20190.1%
Fidelity National Information Services, Inc.0.000% 04/09/20190.1%
Enable Midstream Partners L.P.0.000% 04/08/20190.1%
Humana, Inc.0.000% 04/16/20190.1%
Royal Caribbean Cruises Ltd.0.000% 04/17/20190.1%
Royal Caribbean Cruises Ltd.0.000% 04/22/20190.1%
Enable Midstream Partners L.P.0.000% 04/26/20190.1%
Williams Cos., Inc.0.000% 05/01/20190.1%
Government National Mortgage Association2.750% 02/16/20580.1%
Goldcorp, Inc.3.625% 06/09/20210.1%
Glencore Funding LLC0.000% 05/17/20190.1%
Boston Scientific Corp.0.000% 05/28/20190.1%
Oztel Holdings SPC Ltd6.625% 04/24/20280.1%
Zimmer Biomet Holdings, Inc.3.375% 11/30/20210.1%
Laredo Petroleum Holdings, Inc.5.625% 01/15/20220.1%
Wells Fargo Commercial Mortgage Trust4.287% 07/15/20460.1%
Cent CLO Ltd.4.082% 10/29/20250.1%
MHP Lux SA6.950% 04/03/20260.1%
Martin Marietta Materials, Inc.3.327% 05/22/20200.1%
Eterna Capital Pte Ltd7.500% 12/11/20220.1%
Berry Petroleum Co.7.000% 02/15/20260.1%
China Evergrande Group8.750% 06/28/20250.1%
Macquarie Bank Ltd.4.875% 06/10/20250.1%
Illinois, IL5.100% 06/01/20330.1%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.1%
KOC Holding AS5.250% 03/15/20230.1%
Canadian Natural Resources Ltd.0.000% 04/25/20190.1%
Valmont Industries, Inc.5.250% 10/01/20540.1%
MEG Energy Corp.6.375% 01/30/20230.1%
General Electric Co.5.000% 12/31/20990.1%
AbbVie, Inc.4.700% 05/14/20450.1%
Barclays Dryrock Issuance Trust 2016-11.520% 05/16/20220.1%
CSMC Trust4.373% 09/15/20370.1%
Vedanta Resources plc6.125% 08/09/20240.1%
Regatta VI Funding Ltd4.811% 07/20/20280.1%
Yingde Gases Investment Ltd6.250% 01/19/20230.1%
Newell Rubbermaid, Inc.3.850% 04/01/20230.1%
Synchrony Credit Card Master Note Trust2.820% 10/15/20250.1%
Huntington Bancshares, Inc.5.700% 12/31/20990.1%
Minejesa Capital BV5.625% 08/10/20370.1%
COMM Mortgage Trust4.440% 07/10/20500.1%
Comfort Holding, LLC12.499% 02/03/20250.1%
Techem Verwaltungsgesellschaft 674 mbH6.000% 07/30/20260.1%
Verizon Communications, Inc.3.716% 05/15/20250.1%
Hyundai Capital America1.750% 09/27/20190.1%
Charter Communications Operating LLC6.484% 10/23/20450.1%
Nissan Motor Acceptance Corp.3.308% 03/15/20210.1%
Enterprise Fleet Financing LLC2.870% 10/20/20230.1%
Infraestructura Energetica Nova SAB de CV4.875% 01/14/20480.1%
JPMBB Commercial Mortgage Securities Trust4.277% 07/15/20480.1%
Chrysler Capital Auto Receivables Trust 2015-B2.700% 12/15/20200.1%
SL Green Realty Corp.4.500% 12/01/20220.1%
Enterprise Products Operating LLC7.550% 04/15/20380.1%
Eldorado Resorts, Inc.6.000% 09/15/20260.1%
United Rentals North AM4.148% 10/31/20250.1%
Government National Mortgage Association2.600% 07/16/20580.1%
CPG Merger Sub LLC8.000% 10/01/20210.1%
Constellation Brands, Inc.0.000% 04/11/20190.1%
Barrick North America Finance LLC7.500% 09/15/20380.1%
Avis Budget Rental Car Funding2.460% 07/20/20200.1%
Palmer Square Loan Funding 2018-1 Ltd3.837% 04/15/20260.1%
Red de Carreteras de Occidente SAPIB de CV9.000% 06/10/20280.1%
Worldpay, LLC4.360% 08/09/20240.1%
Discover Bank7.000% 04/15/20200.1%
Express Scripts Holding Co.6.125% 11/15/20410.1%
VA Electric & Power Co.8.875% 11/15/20380.1%
Delphi Automotive plc4.350% 03/15/20290.1%
Drive Auto Receivables Trust3.020% 11/15/20210.1%
Avery Point CLO Ltd.4.273% 07/17/20260.1%
General Electric Co.3.100% 01/09/20230.1%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.1%
GAHR Commericial Mortgage Trust3.382% 12/15/20340.1%
Scientific Games International, Inc.10.000% 12/01/20220.1%
Panera Bread Company4.250% 07/18/20220.1%
E*TRADE Financial Corp.3.800% 08/24/20270.1%
Microchip Technology Inc4.500% 05/23/20250.1%
Drive Auto Receivables Trust3.840% 07/15/20210.1%
Century Communities, Inc.5.875% 07/15/20250.1%
Syngenta Finance NV4.441% 04/24/20230.1%
Danske Bank A/S2.800% 03/10/20210.1%
Avery Point CLO Ltd.4.371% 04/25/20260.1%
Glencore Funding LLC4.125% 05/30/20230.1%
Madison Park Funding XXI Ltd4.301% 07/25/20290.1%
Doncasters US Finance LLC (Doncasters US LLC)6.101% 04/09/20200.1%
Nationstar Mortgage LLC / Nationstar Capital Corp.6.500% 07/01/20210.1%
CNH Equipment Trust1.890% 04/15/20220.1%
Sterigenics-Nordion Topco LLC8.125% 11/01/20210.1%
Morgan Stanley7.300% 05/13/20190.1%
Range Resources Corp.5.000% 08/15/20220.1%
Duqesne Light Holdings, Inc.6.400% 09/15/20200.1%
FMG Finance Pty Ltd.5.125% 05/15/20240.1%
Seneca Park CLO Ltd.3.893% 07/17/20260.1%
Palmer Square Loan Funding 2018-1 Ltd4.187% 04/15/20260.1%
California Republic Auto Receivables Trust1.750% 01/15/20210.1%
UTEX Industries9.749% 05/22/20220.1%
Provident Funding Associates L.P. / PFG Finance Co6.375% 06/15/20250.1%
Energy Transfer Operating LP6.125% 12/15/20450.1%
Northrop Grumman Systems Corp.7.875% 03/01/20260.1%
Lockheed Martin Corp.7.750% 05/01/20260.1%
California Republic Auto Receivables Trust 2015-43.730% 11/15/20210.1%
Waste Pro USA Inc5.500% 02/15/20260.1%
ACC Trust 2018-14.820% 05/20/20210.1%
Citigroup, Inc.5.950% 12/31/20990.1%
Infor Software Parent LLC / Infor Software Parent7.125% 05/01/20210.1%
Bayer US Finance II LLC3.875% 12/15/20230.1%
SCF Equipment Leasing 2017-2 LLC3.410% 12/20/20230.1%
GS Mortgage Securities Trust1.429% 06/10/20460.1%
West Fraser Timber Co. Ltd.4.350% 10/15/20240.1%
Bill Barrett Corp.7.000% 10/15/20220.1%
Kinder Morgan, Inc.5.625% 11/15/20230.0%
Macquarie Bank Ltd./London6.125% 03/08/21670.0%
Murphy Oil Corp.6.875% 08/15/20240.0%
GS Mortgage Securities Trust4.412% 07/10/20480.0%
Emera US Finance L.P.2.700% 06/15/20210.0%
Royal Caribbean Cruises Ltd.3.700% 03/15/20280.0%
Newfield Exploration Co.5.750% 01/30/20220.0%
Cox Communications, Inc.4.500% 06/30/20430.0%
Rede D'or Finance Sarl4.950% 01/17/20280.0%
Pakistan Government International Bond7.250% 04/15/20190.0%
Newell Rubbermaid, Inc.5.000% 11/15/20230.0%
Joseph T Ryerson & Son, Inc.11.000% 05/15/20220.0%
Vodafone Group plc3.750% 01/16/20240.0%
Glencore Finance Canada Ltd.4.250% 10/25/20220.0%
Carrizo Oil & Gas, Inc.6.250% 04/15/20230.0%
GS Mortgage Securities Trust0.519% 06/10/20460.0%
Willis North America, Inc.7.000% 09/29/20190.0%
Florida Gas Transmission Co., LLC7.900% 05/15/20190.0%
Galaxy XXI CLO Ltd3.781% 04/20/20310.0%
CCO Holdings LLC / CCO Holdings Capital Corp.5.250% 03/15/20210.0%
General Motors Financial Co., Inc.0.000% 04/01/20190.0%
Symantec Corp4.483% 08/01/20210.0%
Colfax Corp.0.000% 12/17/20200.0%
Studio City Co Ltd7.250% 11/30/20210.0%
Smithfield Foods, Inc.3.350% 02/01/20220.0%
Palmer Square Loan Funding 2018-5 Ltd3.870% 01/20/20270.0%
Worldpay, LLC4.383% 01/16/20230.0%
Santander UK plc5.000% 11/07/20230.0%
AT&T, Inc.5.350% 09/01/20400.0%
CEC Entertainment, Inc.8.000% 02/15/20220.0%
Navios South American Logistics Inc / Navios Logis7.250% 05/01/20220.0%
Park Aerospace Holdings Ltd4.500% 03/15/20230.0%
Berkshire Hathaway Finance Corp.4.250% 01/15/20490.0%
Santander Drive Auto Receivables Trust 2016-14.020% 04/15/20220.0%
ACC Trust 2018-16.810% 02/21/20230.0%
Halcyon Loan Advisors Funding Ltd.4.921% 07/25/20270.0%
Brazos Valley Longhorn LLC / Brazos Valley Longhor6.875% 02/01/20250.0%
Country Garden Holdings Co. Ltd.4.750% 01/17/20230.0%
Drive Auto Receivables Trust4.590% 01/17/20230.0%
Huntington Auto Trust1.590% 11/16/20200.0%
Glencore Funding LLC3.000% 10/27/20220.0%
Carrizo Oil & Gas, Inc.8.250% 07/15/20250.0%
Elanco Animal Health Inc4.900% 08/28/20280.0%
Doncasters US Finance LLC (Doncasters US LLC)10.851% 10/09/20200.0%
ITC Holdings Corp.5.500% 01/15/20200.0%
U.S. Treasury Note/Bond3.375% 11/15/20480.0%
Apidos CLO XVI5.761% 01/19/20250.0%
Lincoln National Corp.6.300% 10/09/20370.0%
OneMain Financial Issuance Trust 2016-1A3.660% 02/20/20290.0%
Drive Auto Receivables Trust4.180% 03/15/20240.0%
Avery Point CLO Ltd.3.753% 07/17/20260.0%
Avis Budget Rental Car Funding2.630% 12/20/20210.0%
UTEX Industries6.499% 05/22/20210.0%
Merrill Lynch Mortgage Investors Trust Series6.250% 10/25/20360.0%
International Lease Finance Corp.5.875% 08/15/20220.0%
SCANA Corp.6.250% 04/01/20200.0%
Illinois, IL5.520% 04/01/20380.0%
Ashtead Capital, Inc.5.625% 10/01/20240.0%
Government National Mortgage Association0.623% 07/16/20540.0%
Affiliated Managers Group, Inc.4.250% 02/15/20240.0%
CIT Group, Inc.5.800% 12/31/20990.0%
DaVita HealthCare Partners Inc. (fka DaVita Inc.)5.343% 06/24/20210.0%
HudBay Minerals, Inc.7.625% 01/15/20250.0%
General Electric Co.3.375% 03/11/20240.0%
Glencore Finance Canada Ltd.4.950% 11/15/20210.0%
Triumph Group, Inc.4.875% 04/01/20210.0%
Canadian Pacific Railway Co.7.125% 10/15/20310.0%
McDonald's Corp.6.300% 10/15/20370.0%
Bayer US Finance II LLC3.500% 06/25/20210.0%
Canadian Pacific Railway Co.9.450% 08/01/20210.0%
Kraft Heinz Foods Co.7.125% 08/01/20390.0%
Intesa Sanpaolo SpA6.500% 02/24/20210.0%
Pyxus International Inc9.875% 07/15/20210.0%
Gulfstream Natural Gas System LLC4.600% 09/15/20250.0%
Hudsons Bay Simon JV Trust0.541% 08/05/20340.0%
Affiliated Managers Group, Inc.3.500% 08/01/20250.0%
Access Point Funding I 2017-1 LLC3.060% 04/15/20290.0%
Peabody Energy Corp.6.375% 03/31/20250.0%
General Electric Co.3.450% 05/15/20240.0%
Piaggio & C SpA3.625% 04/30/20250.0%
Diamondback Energy, Inc.4.750% 11/01/20240.0%
Kinetic Concepts, Inc. / KCI USA, Inc.12.500% 11/01/20210.0%
Oncor Electric Delivery Co. LLC7.500% 09/01/20380.0%
PG&E Corp0.000% 12/31/20200.0%
WFRBS Commercial Mortgage Trust0.996% 05/15/20470.0%
Chaparral Energy, Inc.0.000% -0.0%
GS Mortgage Securities Trust0.183% 11/10/20480.0%
Diamond Resorts Owner Trust2.990% 05/22/20280.0%
Range Resources Corp.5.875% 07/01/20220.0%
NXP BV / NXP Funding LLC3.875% 09/01/20220.0%
Cox Communications, Inc.4.700% 12/15/20420.0%
HudBay Minerals, Inc.7.250% 01/15/20230.0%
Valero Energy Corp.7.500% 04/15/20320.0%
Sequoia Mortgage Trust 2012-42.069% 09/25/20420.0%
Bayer US Finance II LLC2.750% 07/15/20210.0%
Oncor Electric Delivery Co. LLC7.000% 05/01/20320.0%
Genesys Telecommunications Laboratories Inc/Greene10.000% 11/30/20240.0%
Hudsons Bay Simon JV Trust0.493% 08/05/20340.0%
Teva Pharmaceutical Finance Co. B.V.3.650% 11/10/20210.0%
Mattel, Inc.2.350% 08/15/20210.0%
NRG Yield, Inc.3.250% 06/01/20200.0%
Energy Transfer Partners LP / Regency Energy Finan5.000% 10/01/20220.0%
Santander Drive Auto Receivables Trust 2016-31.890% 06/15/20210.0%
TCF Auto Receivables Owner Trust3.530% 03/15/20220.0%
APX Group, Inc.8.750% 12/01/20200.0%
Antero Resources Corp.5.125% 12/01/20220.0%
Reynolds Group Issuer, Inc.6.875% 02/15/20210.0%
Templar Energy LLC0.000% -0.0%
Diamond Resorts Owner Trust3.080% 11/20/20280.0%
Export Credit Bank of Turkey5.875% 04/24/20190.0%
Fiat Chrysler Automobiles N.V.5.250% 04/15/20230.0%
Glencore Funding LLC2.875% 04/16/20200.0%
U.S. Treasury Note/Bond2.750% 11/15/20420.0%
Canadian Oil Sands Ltd.4.500% 04/01/20220.0%
MEG Energy Corp.6.500% 01/15/20250.0%
PG&E Corp0.000% 12/31/20200.0%
Trinity Acquisition plc4.625% 08/15/20230.0%
JPMBB Commercial Mortgage Securities Trust1.057% 04/15/20470.0%
Union Pacific Corp.6.625% 02/01/20290.0%
Alexandria Real Estate Equities, Inc.3.800% 04/15/20260.0%
WFRBS Commercial Mortgage Trust0.591% 05/15/20470.0%
FX USD/EUR 06/190.000% 06/07/20190.0%
CSX Corp.6.000% 10/01/20360.0%
Templar Energy LLC0.000% -0.0%
DOMMO ENERGIA SA-SP ADR0.000% -0.0%
JPMBB Commercial Mortgage Securities Trust0.284% 04/15/20470.0%
Afren plc10.250% 04/08/20220.0%
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%
FX USD/MXN 05/190.000% 05/14/20190.0%
US 2YR NOTE (CBT) JUN190.000% 07/03/20190.0%
US ULTRA BOND CBT JUN190.000% 06/28/20190.0%
US LONG BOND(CBT) JUN190.000% 06/28/20190.0%
Federal Home Loan Mortgage Corp.1008.500% 04/15/20210.0%
Federal Home Loan Mortgage Corp.1010.500% 02/15/20210.0%
Federal Home Loan Mortgage Corp.0.000% 06/15/20210.0%
Federal National Mortgage Assoc.0.000% 04/25/20220.0%
Federal Home Loan Mortgage Corp.0.000% 10/15/20210.0%
Federal Home Loan Mortgage Corp.0.000% 07/01/20220.0%
Federal Home Loan Mortgage Corp.1195.607% 04/15/20210.0%
Federal Home Loan Mortgage Corp.1008.400% 11/15/20210.0%
Federal Home Loan Mortgage Corp.544.714% 12/15/20200.0%
Federal National Mortgage Assoc.1008.000% 12/25/20210.0%
Federal Home Loan Mortgage Corp.409.000% 04/15/20210.0%
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 National Mortgage Assoc.9.500% 08/25/20210.0%
Federal Home Loan Mortgage Corp.982.654% 04/15/20220.0%
Federal Home Loan Mortgage Corp.1007.000% 02/15/20220.0%
OGX Austria GmbH8.500% 06/01/20190.0%
EURO-SCHATZ FUT JUN190.000% 06/10/20190.0%
Federal Home Loan Mortgage Corp.1009.000% 02/15/20210.0%
US 10YR ULTRA FUT JUN190.000% 06/28/20190.0%
US 10YR NOTE (CBT)JUN190.000% 06/28/20190.0%
US 5YR NOTE (CBT) JUN190.000% 07/03/20190.0%
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 05/17/2019
$0.035
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 04/30/2019 $0.00889 $2.81
Daily Daily 03/31/2019 $0.00883 $2.79
Daily Daily 02/28/2019 $0.00920 $2.75
Daily Daily 01/31/2019 $0.00887 $2.74

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 05/31/2019
Daily Daily 06/30/2019
Daily Daily 07/31/2019
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

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/18/2014 12/19/2014 $0.0038 $0.0108 $0.0146 $2.88
*

Taxed as ordinary income

Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor. 

Upcoming Capital Gain Distribution

Record Date Ex-Dividend Date
12/17/2019 12/18/2019

Fees & Expenses

Fees & Expenses

Expense Ratioas of 04/30/2019

1.07%

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
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 R3 - The performance quotations for Class R3 reflect the following methods of calculation: (a) for periods prior to the inception date for Class R3, a restated figure is used based on the Fund's Class A performance, excluding the effect of Class A's maximum sales charge (which does not apply to Class R3, adjusted to reflect the Rule 12b-1 rate differential between Class A and Class R3, which has a higher 12b-1 fee than Class A; and (b) for periods after the inception date for Class R3, actual Class R3 performance is used reflecting all charges and fees applicable to Class R3 shares. Hypothetical performance data for Class R3, as measured from since inception of the Fund using the methodology described above, is not available if the Class A inception date is equal or greater than ten years old. Please refer to the Class R3 performance information for the inception date for Class R3. Please refer to the Class A performance information for the inception date for Class A.

Class R3 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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