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Income Fund

Daily price w/o sales charge as of 02/27/2020

$2.97

arrowDown$0.01

YTD Returns w/o sales charge as of 02/27/2020

2.25%

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 02/27/2020  

w/o sales charge 3.33%

30-Day Standardized Yield 2 as of 01/31/2020  

2.44%

Fund Basicsas of 01/31/2020

Total Net Assets
$2.84 B
Inception Date
07/02/2008
Dividend Frequency
Monthly
Fund Expense Ratio
1.07%
Number of Holdings
661

Fund Expense Ratio :

1.07%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/02/2008
w/o sales charge 1.99% 12.34% 5.55% 4.11% 5.60% 6.25%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 2.35% 13.38% 5.93% 3.98% 5.36% -
Bloomberg Barclays U.S. Credit Bond Index 2.34% 13.99% 6.45% 4.29% 5.40% 5.89%

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 12.55% 12.55% 5.20% 4.05% 5.60% 6.12%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 13.08% 13.08% 5.26% 4.00% 5.28% -
Bloomberg Barclays U.S. Credit Bond Index 13.80% 13.80% 5.75% 4.39% 5.32% 5.72%

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
U.S. Government Related
ABS
Bank Loans
Sovereign
CMBS
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 01/31/2020 View Portfolio

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

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

INVESTMENT TEAM

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

Partner & Portfolio Manager

21 Years of Industry Experience

Kewjin Yuoh
Kewjin Yuoh

Partner & Portfolio Manager

25 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

18 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

28 Years of Industry Experience

Yoana N. Koleva
Yoana N. Koleva, CFA

Managing Director & Portfolio Manager

16 Years of Industry Experience

Eric P. Kang
Eric P. Kang

Portfolio Manager

20 Years of Industry Experience

Supported By 62 Investment Professionals with 16 Years Avg. Industry Experience

Contact a Representative

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

Performance

Performance

Dividend Yield 1 as of 02/27/2020  

w/o sales charge 3.33%

30-Day Standardized Yield 2 as of 01/31/2020  

  Subsidized5 Un-Subsidized6
w/o sales charge 2.44% 2.44%

Fund Expense Ratio :

1.07%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/02/2008
w/o sales charge 1.99% 12.34% 5.55% 4.11% 5.60% 6.25%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 2.35% 13.38% 5.93% 3.98% 5.36% -
Bloomberg Barclays U.S. Credit Bond Index 2.34% 13.99% 6.45% 4.29% 5.40% 5.89%

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 12.55% 12.55% 5.20% 4.05% 5.60% 6.12%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 13.08% 13.08% 5.26% 4.00% 5.28% -
Bloomberg Barclays U.S. Credit Bond Index 13.80% 13.80% 5.75% 4.39% 5.32% 5.72%

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
2019 12.55% 13.80%
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% -
2008 -10.33% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2020 - - - - 2.25%
2019 4.73% 3.83% 2.29% 1.19% 12.55%
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
U.S. Government Related
ABS
Bank Loans
Sovereign
CMBS
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 01/31/2020

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

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

Portfolio Positioning as of 12/31/2019

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

Portfolio Details as of 01/31/2020

Total Net Assets
$2.84 B
Number of Issues
661
Average Coupon
4.77%
Average Life
8.75 Years
Average Maturity
8.75 Years
Average Effective Duration
6.27 Years

To view definitions for the above Portfolio Details, Click here.

Average Coupon - The weighted average annual rate of interest on a bond’s face value that the issuer agrees to pay the holder until maturity for all the securities in a portfolio.

Average Life - Measures how long it will take, on average, to receive the repayment of the principal amount on a debt security.  Average life is often used in connection with mortgage-backed securities as a measurement of the length of time, on average, before the underlying mortgages are paid, refinanced, or otherwise retired.

Average Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.

Holding Coupon Maturity Assets
U.S. Treasury Note/Bond 1.375% 01/31/2025 3.7%
U.S. Treasury Note/Bond 1.750% 11/15/2029 1.4%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl 4.700% 02/01/2036 1.3%
Verizon Communications, Inc. 3.258% 05/15/2025 1.3%
Japan Treasury Discount Bill 0.000% 04/13/2020 1.2%
U.S. Treasury Note 0.500% 04/15/2024 1.0%
AbbVie, Inc. 4.250% 11/21/2049 0.9%
AT&T, Inc. 6.000% 08/15/2040 0.9%
CVS Caremark Corp. 4.300% 03/25/2028 0.8%
General Motors Co. 6.750% 04/01/2046 0.8%
% of Total Assets 13.3%
Holding Coupon Maturity Assets
U.S. Treasury Note/Bond1.750% 12/31/20242.3%
U.S. Treasury Note/Bond1.500% 11/30/20241.4%
U.S. Treasury Note/Bond1.750% 11/15/20291.4%
Verizon Communications, Inc.3.258% 05/15/20251.4%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl4.700% 02/01/20361.3%
Japan Treasury Discount Bill0.000% 01/08/20201.2%
U.S. Treasury Note0.500% 04/15/20241.0%
AbbVie, Inc.4.250% 11/21/20490.9%
CVS Caremark Corp.4.300% 03/25/20280.9%
AT&T, Inc.6.000% 08/15/20400.9%
Time Warner Cable LLC7.300% 07/01/20380.8%
General Motors Co.6.750% 04/01/20460.8%
Tencent Holdings Ltd.3.595% 01/19/20280.7%
AT&T, Inc.3.312% 06/12/20240.6%
Ford Motor Co.7.450% 07/16/20310.6%
AT&T, Inc.6.250% 03/29/20410.6%
HCA, Inc.5.125% 06/15/20390.6%
BAT Capital Corp4.390% 08/15/20370.6%
Goldman Sachs Group, Inc.6.750% 10/01/20370.6%
NBCUniversal Enterprise, Inc.5.250% 06/19/20990.6%
PSEG Power LLC8.625% 04/15/20310.6%
UBS AG Registered Shares5.125% 05/15/20240.6%
Universal Health Services, Inc.4.750% 08/01/20220.5%
ENI SpA5.700% 10/01/20400.5%
Helmerich & Payne, Inc.4.650% 03/15/20250.5%
Citigroup, Inc.3.887% 01/10/20280.5%
CVS Caremark Corp.4.780% 03/25/20380.5%
Danske Bank A/S5.375% 01/12/20240.5%
VEREIT Operating Partnership L.P.4.875% 06/01/20260.5%
Bank of Ireland Group PLC4.125% 09/19/20270.5%
Valero Energy Corp.10.500% 03/15/20390.5%
General Electric Co.5.000% 12/31/20990.5%
Dell International LLC / EMC Corp.8.350% 07/15/20460.5%
DPL, Inc.4.350% 04/15/20290.5%
EPR Properties4.950% 04/15/20280.4%
Wabtec Corp.4.700% 09/15/20280.4%
Las Vegas Sands Corp.3.900% 08/08/20290.4%
Bacardi Ltd.4.700% 05/15/20280.4%
National Australia Bank Ltd.3.933% 08/02/20340.4%
Apache Corp.5.100% 09/01/20400.4%
Patterson-UTI Energy, Inc.3.950% 02/01/20280.4%
Sabine Pass Liquefaction LLC5.625% 04/15/20230.4%
Bermuda Government International Bond3.717% 01/25/20270.4%
Cox Communications, Inc.8.375% 03/01/20390.4%
Nvent Finance Sarl4.550% 04/15/20280.4%
Bank of America Corp.4.450% 03/03/20260.4%
Aircastle Ltd.4.250% 06/15/20260.4%
Continental Resources, Inc.5.000% 09/15/20220.4%
Catholic Health Initiatives3.347% 10/01/20290.4%
NXP BV / NXP Funding LLC4.625% 06/01/20230.4%
UBS AG7.625% 08/17/20220.4%
Energy Transfer Operating LP6.125% 12/15/20450.4%
NRG Energy, Inc.4.450% 06/15/20290.4%
Wells Fargo Capital X5.950% 12/15/20360.4%
Bank of America Corp.3.824% 01/20/20280.4%
Macquarie Group Ltd.4.654% 03/27/20290.4%
Sabine Pass Liquefaction LLC5.875% 06/30/20260.3%
CNH Capital LLC4.375% 04/05/20220.3%
Royal Caribbean Cruises Ltd.7.500% 10/15/20270.3%
Baidu, Inc.3.875% 09/29/20230.3%
Teachers Insurance & Annuity Association of Americ4.900% 09/15/20440.3%
Park Aerospace Holdings Ltd5.500% 02/15/20240.3%
TransAlta Corp.4.500% 11/15/20220.3%
MPLX L.P.5.250% 01/15/20250.3%
Canadian Natural Resources Ltd.7.200% 01/15/20320.3%
Hilcorp Energy L.P. / Hilcorp Finance Co.6.250% 11/01/20280.3%
Occidental Petroleum Corp.7.875% 09/15/20310.3%
Prosus NV6.000% 07/18/20200.3%
Navient Corp.6.750% 06/25/20250.3%
NGPL Pipeco LLC4.875% 08/15/20270.3%
Freeport-McMoRan, Inc.5.450% 03/15/20430.3%
Dollar General Corp.0.000% 01/06/20200.3%
FirstEnergy Transmission LLC4.550% 04/01/20490.3%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.3%
Discover Bank4.682% 08/09/20280.3%
Fresenius Medical Care US Finance II, Inc.5.875% 01/31/20220.3%
CNO Financial Group, Inc.5.250% 05/30/20250.3%
MPLX L.P.3.202% 09/09/20220.3%
Dell International LLC / EMC Corp6.020% 06/15/20260.3%
Dollar Tree, Inc.4.200% 05/15/20280.3%
North Texas Tollway Auth8.910% 02/01/20300.3%
Burlington Northern Santa Fe LLC5.750% 05/01/20400.3%
Protective Life Corp.8.450% 10/15/20390.3%
Motiva Enterprises LLC5.750% 01/15/20200.3%
Santander UK plc7.950% 10/26/20290.3%
Centene Corp.4.625% 12/15/20290.3%
CNAC HK Finbridge Co Ltd3.000% 07/19/20200.3%
AerCap Ireland Capital Ltd.3.500% 01/15/20250.3%
Trimble Navigation Ltd.4.900% 06/15/20280.3%
Aon plc8.205% 01/01/20270.3%
Air Lease Corp.3.625% 04/01/20270.3%
Carnival plc7.875% 06/01/20270.3%
National Fuel Gas Co.3.750% 03/01/20230.3%
Universal Health Services, Inc.5.000% 06/01/20260.3%
Williams Cos., Inc.8.750% 03/15/20320.3%
SOUND POINT CLO XVII3.566% 10/20/20300.3%
Netflix, Inc.3.625% 05/15/20270.3%
Canadian Tire Corp Ltd0.000% 01/02/20200.3%
Federal Home Loan Mortgage Corp.4.000% 10/01/20490.3%
PVH Corp.7.750% 11/15/20230.3%
BX Commercial Mortgage Trust 2019-XL3.190% 10/15/20360.3%
American Axle & Manufacturing, Inc.4.078% 04/06/20240.3%
Imperial Tobacco Finance plc3.875% 07/26/20290.3%
Vistra Operations Co LLC4.300% 07/15/20290.3%
Consolidated Communications4.800% 10/05/20230.2%
Anglo American Capital plc4.750% 04/10/20270.2%
PerkinElmer, Inc.3.300% 09/15/20290.2%
Shackleton 2019-XIV Clo Ltd4.178% 07/20/20300.2%
Emera, Inc.6.750% 06/15/20760.2%
New York and Presbyterian Hospital/The3.954% 08/01/21190.2%
American Airlines Class B Pass Through Trust4.375% 10/01/20220.2%
WOW! (Wide Open West)5.030% 08/18/20230.2%
Sabine Pass Liquefaction LLC5.750% 05/15/20240.2%
Time Warner Entertainment Co. L.P.8.375% 07/15/20330.2%
Global Atlantic Fin Co4.400% 10/15/20290.2%
BX Commercial Mortgage Trust 2019-XL3.740% 10/15/20360.2%
Wyndham Hotels & Resorts3.972% 03/28/20250.2%
Fidelity National Financial Group4.500% 08/15/20280.2%
IFM US Colonial Pipeline 2 LLC6.450% 05/01/20210.2%
ZF North America Capital, Inc.4.750% 04/29/20250.2%
Kinross Gold Corp.4.500% 07/15/20270.2%
Glencore Finance Canada Ltd.5.550% 10/25/20420.2%
Cleco Power LLC6.000% 12/01/20400.2%
Midwest Connector Capital Co LLC3.900% 04/01/20240.2%
Fresenius Medical Care US Finance II, Inc.4.750% 10/15/20240.2%
Halliburton Co.7.450% 09/15/20390.2%
Assurant, Inc.3.700% 02/22/20300.2%
Brixmor Operating Partnership L.P.3.850% 02/01/20250.2%
American Homes 4 Rent LP4.250% 02/15/20280.2%
Jabil, Inc.0.000% 02/24/20200.2%
BX Commercial Mortgage Trust 2019-XL3.540% 10/15/20360.2%
Equinix, Inc.5.375% 05/15/20270.2%
ALM VII Ltd3.851% 07/15/20290.2%
National Fuel Gas Co.0.000% 01/10/20200.2%
El Paso Electric Co.5.000% 12/01/20440.2%
Neuberger Berman Group LLC4.875% 04/15/20450.2%
Citigroup, Inc.3.668% 07/24/20280.2%
Broadcom Inc3.625% 10/15/20240.2%
People's United Financial, Inc.3.650% 12/06/20220.2%
Cheniere Corpus Christi Holdings LLC7.000% 06/30/20240.2%
MEG Energy Corp.7.000% 03/31/20240.2%
Smithfield Foods, Inc.5.200% 04/01/20290.2%
Continental Resources, Inc.4.900% 06/01/20440.2%
Bayer US Finance II LLC3.875% 12/15/20230.2%
Dominion Resources, Inc.7.000% 06/15/20380.2%
Enel Finance International N.V.2.750% 04/06/20230.2%
Air Medical Group Holdings, Inc.5.035% 04/28/20220.2%
Bayer US Finance II LLC4.375% 12/15/20280.2%
Hess Corp.5.800% 04/01/20470.2%
Sonoco Products Co.0.000% 01/02/20200.2%
SCANA Corp.4.125% 02/01/20220.2%
Owens Corning4.300% 07/15/20470.2%
Cimarex Energy Co.4.375% 03/15/20290.2%
Webster Financial Corp.4.100% 03/25/20290.2%
GATX Corp.4.550% 11/07/20280.2%
Kansas City Southern4.200% 11/15/20690.2%
Centennial Resource Production LLC6.875% 04/01/20270.2%
AXIS Specialty Finance LLC3.900% 07/15/20290.2%
Lloyds Bank plc6.500% 09/14/20200.2%
AerCap Ireland Capital Ltd.3.650% 07/21/20270.2%
Cleco Corp.4.973% 05/01/20460.2%
Kroger Co.0.000% 01/06/20200.2%
JB y Co SA de CV3.750% 05/13/20250.2%
Leidos, Inc.7.125% 07/01/20320.2%
Berry Petroleum Co.7.000% 02/15/20260.2%
Oasis Petroleum, Inc.6.875% 03/15/20220.2%
IHS Markit Ltd4.000% 03/01/20260.2%
Hess Corp.5.600% 02/15/20410.2%
Weyerhaeuser Co.8.500% 01/15/20250.2%
National Oilwell Varco, Inc.3.950% 12/01/20420.2%
NVA Holdings, Inc.5.099% 02/02/20250.2%
U.S. Treasury Note/Bond2.875% 11/15/20210.2%
American Airlines Class B Pass Through Trust5.625% 01/15/20210.2%
NextEra Energy Capital Holdings, Inc.2.852% 02/25/20220.2%
Bank of America Corp.2.706% 10/01/20210.2%
American Airlines Class B Pass Through Trust5.600% 07/15/20200.2%
Venture XXIV CLO Ltd4.016% 10/20/20280.2%
Waste Pro USA Inc5.500% 02/15/20260.2%
ICG US CLO 2015-2 Ltd2.851% 01/16/20280.2%
Allegany Park CLO Ltd0.000% 01/20/20330.2%
WEA Finance LLC3.500% 06/15/20290.2%
BlueMountain CLO 2016-1 Ltd3.316% 04/20/20270.2%
Government National Mortgage Association2.600% 06/16/20570.2%
General Electric Co.6.150% 08/07/20370.2%
Range Resources Corp.5.000% 03/15/20230.2%
Enbridge, Inc.6.000% 01/15/20770.2%
Hanover Insurance Group, Inc.4.500% 04/15/20260.2%
SM Energy Co.6.625% 01/15/20270.2%
Capital Auto Receivables Asset Trust 2018-12.790% 01/20/20220.2%
Phosagro OAO via Phosagro Bond Funding Ltd3.949% 04/24/20230.2%
Puget Energy, Inc.3.650% 05/15/20250.2%
Baidu, Inc.3.625% 07/06/20270.2%
Radian Group, Inc.4.875% 03/15/20270.2%
Owens Corning7.000% 12/01/20360.2%
Equinix, Inc.5.875% 01/15/20260.2%
Panera Bread Company3.563% 07/18/20220.2%
National Oilwell Varco, Inc.3.600% 12/01/20290.2%
Nationstar Mortgage Holdings, Inc.9.125% 07/15/20260.2%
Motiva Enterprises LLC0.000% 01/31/20200.2%
Bahamas Government International Bond6.950% 11/20/20290.2%
Hardee's Funding LLC4.959% 06/20/20480.2%
Keurig Dr Pepper Inc.3.495% 02/08/20230.2%
PFP 2019-6 Ltd4.014% 04/14/20370.2%
Origin Energy Finance Ltd.5.450% 10/14/20210.2%
Macquarie Bank Ltd.6.625% 04/07/20210.2%
OHA Loan Funding 2016-1 Ltd3.766% 01/20/20280.2%
Geo Group, Inc.6.000% 04/15/20260.2%
Southern Copper Corp.5.250% 11/08/20420.2%
Neuberger Berman Group LLC4.500% 03/15/20270.2%
U.S. Treasury Note/Bond2.250% 08/15/20490.2%
BBVA Bancomer SA5.125% 01/18/20330.2%
Hudson Pacific Properties LP4.650% 04/01/20290.2%
World Financial Network Credit Card Master Trust2.030% 04/15/20250.2%
Bombardier, Inc.6.125% 01/15/20230.2%
Exelon Generation Co. LLC5.750% 10/01/20410.2%
Bemis Co., Inc.0.000% 01/31/20200.2%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.2%
Octagon Investment Partners 30 Ltd3.666% 03/17/20300.2%
Roper Industries, Inc.3.850% 12/15/20250.2%
Exelon Generation Co. LLC6.250% 10/01/20390.2%
Cigna Corp6.125% 11/15/20410.2%
Royal Caribbean Cruises Ltd.5.250% 11/15/20220.2%
Energy Transfer Operating LP8.250% 11/15/20290.2%
Cheniere Corpus Christi Holdings LLC5.125% 06/30/20270.2%
Brightsphere Investment Group Inc4.800% 07/27/20260.2%
Mount Sinai Hospitals Group Inc3.737% 07/01/20490.2%
Weibo Corp.3.500% 07/05/20240.1%
Flagship Credit Auto Trust 2019-14.080% 02/18/20250.1%
Broadcom Corp. / Broadcom Cayman Finance Ltd.3.875% 01/15/20270.1%
American Axle & Manufacturing, Inc.6.500% 04/01/20270.1%
RPI Finance Trust3.869% 05/04/20220.1%
Selective Insurance Group, Inc.5.375% 03/01/20490.1%
TIBCO Software, Inc.11.375% 12/01/20210.1%
Standard Chartered Bank/New York0.000% 01/10/20200.1%
Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor4.080% 12/15/20470.1%
Litton Industries, Inc.7.750% 03/15/20260.1%
Spectra Energy Partners L.P.2.827% 06/05/20200.1%
SRC Energy Inc6.250% 12/01/20250.1%
National Fuel Gas Co.4.900% 12/01/20210.1%
PG&E Corp3.875% 04/27/20210.1%
Kennametal, Inc.4.625% 06/15/20280.1%
Calpine Corp.5.500% 02/01/20240.1%
Zimmer Biomet Holdings, Inc.5.750% 11/30/20390.1%
U.S. Treasury Note/Bond2.375% 11/15/20490.1%
BBCMS 2019-BWAY Mortgage Trust3.350% 11/25/20340.1%
Vulcan Materials Co.2.557% 03/01/20210.1%
Mississippi Power Co.4.250% 03/15/20420.1%
Avolon Holdings Funding Ltd5.125% 10/01/20230.1%
Solera Finance, Inc.10.500% 03/01/20240.1%
Northwell Healthcare, Inc.3.979% 11/01/20460.1%
BSPRT 2018-FL4 Issuer Ltd2.790% 09/15/20350.1%
CVS Caremark Corp.5.050% 03/25/20480.1%
Anglo American Capital plc4.500% 03/15/20280.1%
Tenneco, Inc.5.000% 07/15/20260.1%
Bank of Montreal3.803% 12/15/20320.1%
MPLX L.P.6.875% 12/31/20990.1%
Oglethorpe Power Corp.5.050% 10/01/20480.1%
Pentair Finance SA4.500% 07/01/20290.1%
KKR CLO 18 Ltd3.703% 07/18/20300.1%
Healthcare Trust of America Holdings LP3.100% 02/15/20300.1%
World Financial Network Credit Card Master Trust2.660% 08/15/20240.1%
Bayer Corp6.650% 02/15/20280.1%
Unum Group5.750% 08/15/20420.1%
Jamestown CLO IX Ltd4.616% 10/20/20280.1%
Laredo Petroleum Holdings, Inc.5.625% 01/15/20220.1%
Conn's Receivables Funding 2017-B LLC5.950% 11/15/20220.1%
Spirit Realty LP3.400% 01/15/20300.1%
Foursight Capital Automobile Receivables Trust 2014.190% 11/15/20230.1%
Lincoln National Corp.7.000% 06/15/20400.1%
Madison Park Funding XXXVI Ltd3.750% 01/15/20330.1%
Norfolk Southern Corp.5.590% 05/17/20250.1%
Emera US Finance L.P.4.750% 06/15/20460.1%
Centene Corp.5.375% 06/01/20260.1%
McDonald's Corp.6.300% 03/01/20380.1%
Appalachian Power Co.7.000% 04/01/20380.1%
Callon Petroleum Co.6.375% 07/01/20260.1%
Westpac Banking Corp.4.322% 11/23/20310.1%
Country Garden Holdings Co. Ltd.4.750% 09/28/20230.1%
Exelon Generation Co. LLC5.600% 06/15/20420.1%
Lincoln National Corp.6.300% 10/09/20370.1%
Signature Aviation US Holdings Inc4.000% 03/01/20280.1%
Silversea Cruise Finance Ltd.7.250% 02/01/20250.1%
DTE Energy Co.6.375% 04/15/20330.1%
Palmer Square Loan Funding 2018-1 Ltd2.601% 04/15/20260.1%
Aviation Capital Group Corp.0.000% 01/30/20200.1%
Hardee's Funding LLC5.710% 06/20/20480.1%
Westpac Banking Corp.4.110% 07/24/20340.1%
Jabil, Inc.0.000% 02/28/20200.1%
Newell Rubbermaid, Inc.5.750% 04/01/20460.1%
BMW Vehicle Lease Trust 2019-12.790% 03/22/20210.1%
Provident Funding Associates L.P. / PFG Finance Co6.375% 06/15/20250.1%
Duqesne Light Holdings, Inc.6.250% 08/15/20350.1%
PTL Finance Corp.3.450% 07/01/20240.1%
Barclays Bank plc10.179% 06/12/20210.1%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.1%
Century Communities, Inc.5.875% 07/15/20250.1%
IHS Markit Ltd4.250% 05/01/20290.1%
Schaeffler Verwaltung Zwei GmbH4.750% 09/15/20260.1%
GCI LLC6.875% 04/15/20250.1%
Imperial Tobacco Finance plc3.125% 07/26/20240.1%
CNH Capital LLC4.875% 04/01/20210.1%
Endeavor Energy Resources L.P.5.750% 01/30/20280.1%
Bill Barrett Corp.7.000% 10/15/20220.1%
Nissan Motor Acceptance Corp.2.794% 09/28/20220.1%
AerCap Ireland Capital Ltd.4.875% 01/16/20240.1%
Northwoods Capital 20 Ltd6.151% 01/25/20300.1%
E*TRADE Financial Corp.4.500% 06/20/20280.1%
Florida Gas Transmission Co., LLC3.875% 07/15/20220.1%
Ford Motor Co3.335% 12/31/20220.1%
BWAY Holding Co.7.250% 04/15/20250.1%
FedEx Corp.4.950% 10/17/20480.1%
Perimeter Master Note Business Trust4.230% 05/15/20240.1%
VMC Finance 2019-FL3 LLC2.837% 09/15/20360.1%
National Fuel Gas Co.3.950% 09/15/20270.1%
Adient Global Holdings Ltd.4.875% 08/15/20260.1%
Interstate Power & Light Co3.500% 09/30/20490.1%
ION Trading Technologies S.A.R.L.6.064% 11/21/20240.1%
WeWork Cos Inc7.875% 05/01/20250.1%
Elevation CLO 2014-2 Ltd5.201% 10/15/20290.1%
US Cellular Corp.6.700% 12/15/20330.1%
CP VI Bella Midco, LLC4.549% 12/27/20240.1%
Forterra, Inc.4.799% 10/25/20230.1%
Hunt Cos Inc6.250% 02/15/20260.1%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.1%
Sabal Trail Transmission LLC4.246% 05/01/20280.1%
PPL WEM Ltd./Western Power Distribution Ltd.5.375% 05/01/20210.1%
Embraer Overseas Ltd.5.696% 09/16/20230.1%
Great Wolf Trust4.454% 12/15/20290.1%
Sophia LP / Sophia Finance, Inc.9.000% 09/30/20230.1%
Viper Energy Partners LP5.375% 11/01/20270.1%
Seven Generations Energy Ltd.6.875% 06/30/20230.1%
North Texas Tollway Auth8.410% 02/01/20300.1%
EnCana Corp.0.000% 01/23/20200.1%
Energy Transfer Operating LP9.000% 11/01/20240.1%
Kilroy Realty L.P.4.375% 10/01/20250.1%
Itron, Inc.5.000% 01/15/20260.1%
Carrizo Oil & Gas, Inc.6.250% 04/15/20230.1%
Fortive Corp.0.000% 01/16/20200.1%
Bombardier, Inc.7.500% 03/15/20250.1%
Cheniere Corpus Christi Holdings LLC3.700% 11/15/20290.1%
CPS Auto Trust4.610% 12/15/20220.1%
Scientific Games International, Inc.6.625% 05/15/20210.1%
Planet Fitness Master Issuer LLC3.858% 12/05/20490.1%
Barrick North America Finance LLC7.500% 09/15/20380.1%
General Electric Co.2.667% 05/05/20260.1%
Northwoods Capital 20 Ltd4.701% 01/25/20300.1%
Wabash National Corp.5.500% 10/01/20250.1%
SCANA Corp.4.750% 05/15/20210.1%
Broadcom Inc0.000% 01/07/20200.1%
Titan International, Inc.6.500% 11/30/20230.1%
Cardinal Health, Inc.0.000% 01/02/20200.1%
Cedar Funding VI CLO Ltd3.566% 10/20/20280.1%
Amcor Finance USA Inc0.000% 02/28/20200.1%
Capitol Investment Merger Sub 2 LLC10.000% 08/01/20240.1%
Cleveland Electric Illuminating Co.3.500% 04/01/20280.1%
SURA Asset Management SA4.375% 04/11/20270.1%
Freeport-McMoRan, Inc.5.250% 09/01/20290.1%
Citigroup, Inc.4.600% 03/09/20260.1%
MMC Norilsk Nickel OJSC via MMC Finance Ltd.4.100% 04/11/20230.1%
Reynolds Group Issuer, Inc.5.750% 10/15/20200.1%
Standard Chartered plc4.247% 01/20/20230.1%
Gulfstream Natural Gas System LLC4.600% 09/15/20250.1%
Mountain View CLO X Ltd3.351% 10/13/20270.1%
Acwa Power Management And Investments One Ltd5.950% 12/15/20390.1%
AMMC CLO XIV Ltd3.640% 07/25/20290.1%
KazMunayGas National Co.6.375% 10/24/20480.1%
Interstate Power & Light Co3.600% 04/01/20290.1%
AbbVie, Inc.4.875% 11/14/20480.1%
Newell Rubbermaid, Inc.3.850% 04/01/20230.1%
Government National Mortgage Association2.700% 07/16/20570.1%
Adani Transmission Ltd4.000% 08/03/20260.1%
Yum! Brands, Inc.6.875% 11/15/20370.1%
Griffon Corp.5.250% 03/01/20220.1%
Williams Scotsman International Inc7.875% 12/15/20220.1%
U.S. Treasury Note/Bond3.625% 08/15/20430.1%
Wells Fargo Commercial Mortgage Trust 2017-C413.785% 11/15/20500.1%
Northrop Grumman Systems Corp.7.750% 02/15/20310.1%
Smithfield Foods, Inc.0.000% 01/30/20200.1%
Sound Point Clo XV Ltd4.434% 01/23/20290.1%
Smithfield Foods, Inc.0.000% 01/29/20200.1%
Cigna Corp0.000% 02/11/20200.1%
Banco Mercantil del Norte SA/Grand Cayman7.625% 07/06/21670.1%
Bemis Co., Inc.0.000% 01/16/20200.1%
MediArena Acquisition B.V. (fka AP NMT Acquisition B.V.)7.835% 08/13/20210.1%
SL Green Operating Partnership L.P.3.250% 10/15/20220.1%
Bemis Co., Inc.0.000% 01/17/20200.1%
YPF S.A.6.950% 07/21/20270.1%
Popular, Inc.6.125% 09/14/20230.1%
MHP Lux SA6.950% 04/03/20260.1%
AbbVie, Inc.4.700% 05/14/20450.1%
Mohegan Tribal Gaming Authority7.875% 10/15/20240.1%
Oztel Holdings SPC Ltd6.625% 04/24/20280.1%
Madison Park Funding XXXVI Ltd2.600% 01/15/20330.1%
Citizens Financial Group, Inc.4.150% 09/28/20220.1%
QEP Resources, Inc.6.875% 03/01/20210.1%
Illinois, IL5.100% 06/01/20330.1%
Parsley Energy LLC6.250% 06/01/20240.1%
EPR Properties4.500% 04/01/20250.1%
Palmer Square Loan Funding 2017-1 Ltd3.701% 10/15/20250.1%
Ford Motor Credit Co. LLC5.113% 05/03/20290.1%
Marathon Petroleum Corp.5.375% 10/01/20220.1%
Air Canada 2015-2 Class B Pass Through Trust5.000% 12/15/20230.1%
Matador Resources Co.5.875% 09/15/20260.1%
QEP Resources, Inc.5.375% 10/01/20220.1%
VEREIT Operating Partnership L.P.4.625% 11/01/20250.1%
Bahamas Government International Bond6.000% 11/21/20280.1%
Chaparral Energy, Inc.8.750% 07/15/20230.1%
CARLYLE US CLO 2019-4 LTD0.000% 01/15/20330.1%
Jamestown CLO VII Ltd.3.240% 07/25/20270.1%
Salem Fields CLO Ltd 2016-23.640% 10/25/20280.1%
ZF North America Capital, Inc.4.000% 04/29/20200.1%
Wells Fargo Commercial Mortgage Trust4.284% 07/15/20460.1%
MPLX L.P.6.250% 10/15/20220.1%
Macquarie Bank Ltd.4.875% 06/10/20250.1%
Florida Power & Light Co.2.308% 05/06/20220.1%
Government National Mortgage Association2.750% 02/16/20580.1%
Minejesa Capital BV5.625% 08/10/20370.1%
HPS Loan Management 10-2016 Ltd3.716% 01/20/20280.1%
Texas Eastern Transmission L.P.4.125% 12/01/20200.1%
Ashtead Capital, Inc.4.250% 11/01/20290.1%
Hayward Acquisition Corp.5.299% 08/05/20240.1%
Valmont Industries, Inc.5.250% 10/01/20540.1%
Martin Marietta Materials, Inc.2.800% 05/22/20200.1%
China Evergrande Group10.000% 04/11/20230.1%
Electricite de France SA5.000% 09/21/20480.1%
Huntington Bancshares, Inc.5.700% 12/31/20990.1%
Yingde Gases Investment Ltd6.250% 01/19/20230.1%
Charter Communications Operating LLC6.484% 10/23/20450.1%
Range Resources Corp.5.000% 08/15/20220.1%
Vedanta Resources plc6.125% 08/09/20240.1%
Synchrony Credit Card Master Note Trust2.820% 10/15/20250.1%
Turkiye Vakiflar Bankasi Tao5.750% 01/30/20230.1%
COMM Mortgage Trust4.436% 07/10/20500.1%
Enable Midstream Partners L.P.0.000% 01/27/20200.1%
Regatta VI Funding Ltd4.016% 07/20/20280.1%
Eldorado Resorts, Inc.6.000% 09/15/20260.1%
Smithfield Foods, Inc.0.000% 01/31/20200.1%
Canadian Pacific Railway Co.7.125% 10/15/20310.1%
T-Mobile USA, Inc.6.375% 03/01/20250.1%
Spirit Realty LP4.000% 07/15/20290.1%
Nissan Motor Acceptance Corp.2.414% 03/15/20210.1%
New York St Electric & Gas Corp.3.300% 09/15/20490.1%
JPMBB Commercial Mortgage Securities Trust4.268% 07/15/20480.1%
Exelon Corp.0.000% 01/02/20200.1%
Dollar General Corp.0.000% 01/08/20200.1%
SESI LLC7.125% 12/15/20210.1%
Drive Auto Receivables Trust 2019-22.930% 03/15/20220.1%
SL Green Realty Corp.4.500% 12/01/20220.1%
Bowman Park CLO Ltd.3.090% 11/23/20250.1%
Glencore Funding LLC4.125% 05/30/20230.1%
CEOC, LLC (aka Caesars Entertainment Operating Company)3.799% 10/07/20240.1%
Government National Mortgage Association2.600% 07/16/20580.1%
VA Electric & Power Co.8.875% 11/15/20380.1%
Palmer Square Loan Funding 2018-1 Ltd3.051% 04/15/20260.1%
Thacher Park CLO Ltd.3.126% 10/20/20260.1%
Southern Star Central Corp.5.125% 07/15/20220.1%
U.S. Treasury Note/Bond2.750% 11/15/20470.1%
Benefit Street Partners CLO XIX Ltd0.000% 01/15/20330.1%
E*TRADE Financial Corp.3.800% 08/24/20270.1%
MidOcean Credit CLO VI3.866% 01/20/20290.1%
CPG Merger Sub LLC8.000% 10/01/20210.1%
Cox Communications, Inc.4.500% 06/30/20430.1%
Amcor Finance USA Inc0.000% 01/10/20200.1%
Northrop Grumman Systems Corp.7.875% 03/01/20260.1%
Royal Caribbean Cruises Ltd.0.000% 01/03/20200.1%
Park Aerospace Holdings Ltd4.500% 03/15/20230.1%
Mountain Hawk III CLO Ltd.3.203% 04/18/20250.1%
SAIC, Inc.5.950% 12/01/20400.1%
MediArena Acquisition B.V. (fka AP NMT Acquisition B.V.)11.089% 08/13/20220.1%
Valeant Pharmaceuticals International, Inc.5.000% 01/30/20280.1%
Enel Finance America LLC0.000% 01/07/20200.1%
Syngenta Finance NV4.441% 04/24/20230.1%
OHA Loan Funding Ltd.4.501% 11/15/20320.1%
Royal Caribbean Cruises Ltd.0.000% 01/14/20200.1%
Royal Caribbean Cruises Ltd.0.000% 01/09/20200.1%
Neuberger Berman Loan Advisers CLO 35 Ltd5.603% 01/19/20330.0%
Smithfield Foods, Inc.0.000% 01/14/20200.0%
RELX Investments PLC0.000% 01/06/20200.0%
Regatta XVI Funding Ltd5.803% 01/15/20330.0%
BlueMountain CLO 2013-1 Ltd3.716% 01/20/20290.0%
Range Resources Corp.5.750% 06/01/20210.0%
COMM 2016-COR1 Mortgage Trust3.494% 10/10/20490.0%
Avery Point CLO Ltd.3.540% 04/25/20260.0%
BAT International Finance plc0.000% 04/03/20200.0%
Commonwealth Edison Co.0.000% 01/02/20200.0%
American Electric Power Co., Inc.0.000% 01/27/20200.0%
Cent CLO Ltd.3.258% 10/29/20250.0%
Palmer Square Loan Funding 2018-1 Ltd3.401% 04/15/20260.0%
Enterprise Development Authority/The12.000% 07/15/20240.0%
Duqesne Light Holdings, Inc.6.400% 09/15/20200.0%
BAE Systems Finance Inc7.500% 07/01/20270.0%
Genesys Telecommunications Laboratories Inc/Greene10.000% 11/30/20240.0%
Regatta XVI Funding Ltd4.603% 01/15/20330.0%
Southwestern Public Svc Co.4.500% 08/15/20410.0%
Macquarie Bank Ltd./London6.125% 03/08/21670.0%
Citigroup, Inc.5.950% 12/31/20990.0%
Illinois, IL4.950% 06/01/20230.0%
PTL Finance Corp.3.950% 03/10/20250.0%
Lockheed Martin Corp.7.750% 05/01/20260.0%
Rede D'or Finance Sarl4.950% 01/17/20280.0%
Doncasters US Finance LLC (Doncasters US LLC)5.445% 04/09/20200.0%
California Republic Auto Receivables Trust 2015-43.730% 11/15/20210.0%
ACC Trust 2018-14.820% 05/20/20210.0%
Royal Caribbean Cruises Ltd.3.700% 03/15/20280.0%
South Jersey Gas Co0.000% 01/07/20200.0%
Turkiye Vakiflar Bankasi Tao5.625% 05/30/20220.0%
Newell Rubbermaid, Inc.0.000% 01/06/20200.0%
Smithfield Foods, Inc.0.000% 01/15/20200.0%
FirstEnergy Transmission LLC4.350% 01/15/20250.0%
Benefit Street Partners CLO XIX Ltd0.000% 01/15/20330.0%
GS Mortgage Securities Trust4.410% 07/10/20480.0%
DRB Prime Student Loan Trust3.200% 01/25/20400.0%
Enterprise Fleet Financing LLC2.870% 10/20/20230.0%
Walgreen Co.0.000% 01/02/20200.0%
Joseph T Ryerson & Son, Inc.11.000% 05/15/20220.0%
ZF North America Capital, Inc.4.500% 04/29/20220.0%
Callon Petroleum Co.6.125% 10/01/20240.0%
Southern Power Co0.000% 01/10/20200.0%
Southern Power Co0.000% 01/30/20200.0%
Berkshire Hathaway Finance Corp.4.250% 01/15/20490.0%
SM Energy Co.6.125% 11/15/20220.0%
Walgreen Co.0.000% 01/14/20200.0%
Galaxy XXI CLO Ltd2.986% 04/20/20310.0%
NOVA Chemicals Corp.5.250% 08/01/20230.0%
Boral Finance Pty Ltd3.000% 11/01/20220.0%
Smithfield Foods, Inc.3.350% 02/01/20220.0%
McDonald's Corp.6.300% 10/15/20370.0%
Oglethorpe Power Corp.0.000% 01/17/20200.0%
Navios South American Logistics Inc / Navios Logis7.250% 05/01/20220.0%
Palmer Square Loan Funding 2018-5 Ltd3.366% 01/20/20270.0%
Studio City Co Ltd7.250% 11/30/20210.0%
Refinitiv US Holdings Inc8.250% 11/15/20260.0%
Danske Bank A/S4.375% 06/12/20280.0%
CIFC Funding 2019-VI Ltd5.885% 01/16/20330.0%
Westar Energy, Inc.0.000% 01/02/20200.0%
Country Garden Holdings Co. Ltd.4.750% 01/17/20230.0%
Halcyon Loan Advisors Funding Ltd.4.090% 07/25/20270.0%
Santander Drive Auto Receivables Trust 2016-14.020% 04/15/20220.0%
ACC Trust 2018-16.810% 02/21/20230.0%
Apex Credit CLO 2017 Ltd3.886% 04/24/20290.0%
GS Mortgage Securities Trust1.419% 06/10/20460.0%
National Fuel Gas Co.0.000% 01/16/20200.0%
National Fuel Gas Co.0.000% 01/09/20200.0%
Glencore Funding LLC3.000% 10/27/20220.0%
SCF Equipment Leasing 2017-2 LLC3.410% 12/20/20230.0%
GS Mortgage Securities Trust0.518% 06/10/20460.0%
Carrizo Oil & Gas, Inc.8.250% 07/15/20250.0%
Apex Credit CLO 2016 Ltd3.786% 10/27/20280.0%
BAT Capital Corp3.557% 08/15/20270.0%
FX USD/JPY 01/200.000% 01/08/20200.0%
CSX Corporation, Inc.7.875% 05/15/20430.0%
Compass Bank3.875% 04/10/20250.0%
Motion Bondco DAC6.625% 11/15/20270.0%
Apidos CLO XVI4.966% 01/19/20250.0%
Jabil, Inc.0.000% 01/02/20200.0%
Illinois, IL5.520% 04/01/20380.0%
Lockheed Martin Tactical Systems Inc7.625% 06/15/20250.0%
Metropolitan Edison Co.4.000% 04/15/20250.0%
Sherwin-Williams Co.0.000% 01/02/20200.0%
Avis Budget Rental Car Funding2.630% 12/20/20210.0%
Glencore Finance Canada Ltd.4.250% 10/25/20220.0%
Boston Scientific Corp.0.000% 01/02/20200.0%
Drive Auto Receivables Trust4.180% 03/15/20240.0%
UTEX Industries9.049% 05/22/20220.0%
General Motors Financial Co., Inc.4.250% 05/15/20230.0%
Affiliated Managers Group, Inc.4.250% 02/15/20240.0%
National Fuel Gas Co.0.000% 01/23/20200.0%
Eldorado Resorts, Inc.4.553% 04/17/20240.0%
SCANA Corp.6.250% 04/01/20200.0%
CIT Group, Inc.5.800% 12/31/20990.0%
IHS Markit Ltd3.625% 05/01/20240.0%
Boeing Co.0.000% 02/18/20200.0%
AutoNation, Inc.0.000% 01/07/20200.0%
General Electric Co.3.100% 01/09/20230.0%
Government National Mortgage Association0.623% 07/16/20540.0%
Canadian Pacific Railway Co.9.450% 08/01/20210.0%
Affiliated Managers Group, Inc.3.500% 08/01/20250.0%
Merrill Lynch Mortgage Investors Trust Series6.250% 10/25/20360.0%
Avery Point CLO Ltd.2.982% 07/17/20260.0%
Bombardier, Inc.8.750% 12/01/20210.0%
El Paso Electric Co.6.000% 05/15/20350.0%
UTEX Industries5.799% 05/22/20210.0%
General Electric Co.3.450% 05/15/20240.0%
Seneca Park CLO Ltd.3.122% 07/17/20260.0%
Hudsons Bay Simon JV Trust0.541% 08/05/20340.0%
Drive Auto Receivables Trust4.590% 01/17/20230.0%
Oncor Electric Delivery Co. LLC7.500% 09/01/20380.0%
Cox Communications, Inc.4.700% 12/15/20420.0%
PG&E Corp5.029% 12/31/20200.0%
Smithfield Foods, Inc.0.000% 01/28/20200.0%
EnCana Corp.0.000% 01/21/20200.0%
Kinetic Concepts, Inc. / KCI USA, Inc.12.500% 11/01/20210.0%
National Fuel Gas Co.0.000% 01/08/20200.0%
Anheuser-Busch InBev Worldwide, Inc.8.200% 01/15/20390.0%
Valero Energy Corp.7.500% 04/15/20320.0%
William Lyon Homes, Inc.7.000% 08/15/20220.0%
GS Mortgage Securities Trust0.182% 11/10/20480.0%
Piedmont Natural Gas Co., Inc.3.640% 11/01/20460.0%
WFRBS Commercial Mortgage Trust0.962% 05/15/20470.0%
Delmarva Power & Light Co0.000% 01/02/20200.0%
South Jersey Gas Co0.000% 01/02/20200.0%
Public Service Co. of New Mexico3.850% 08/01/20250.0%
General Electric Co.3.375% 03/11/20240.0%
Sequoia Mortgage Trust 2012-42.069% 09/25/20420.0%
Cigna Corp4.800% 07/15/20460.0%
Cintas Corp No 20.000% 01/02/20200.0%
Southern California Edison Co.0.000% 01/02/20200.0%
Hubbell, Inc.0.000% 01/02/20200.0%
Broadcom Inc0.000% 02/06/20200.0%
EnCana Corp.0.000% 01/10/20200.0%
EnCana Corp.0.000% 01/14/20200.0%
Walgreen Co.0.000% 01/13/20200.0%
Hudsons Bay Simon JV Trust0.493% 08/05/20340.0%
Interstate Power & Light Co4.700% 10/15/20430.0%
Drive Auto Receivables Trust 2017-12.840% 04/15/20220.0%
Antero Resources Corp.5.125% 12/01/20220.0%
National Fuel Gas Co.0.000% 01/02/20200.0%
Suncor Energy Ventures Corp4.500% 04/01/20220.0%
Diamond Resorts Owner Trust3.080% 11/20/20280.0%
PG&E Corp5.029% 12/31/20200.0%
Doncasters US Finance LLC (Doncasters US LLC)0.000% 10/09/20200.0%
Dow Chemical Co.0.000% 01/06/20200.0%
OneMain Financial Issuance Trust 2016-1A3.660% 02/20/20290.0%
Chaparral Energy, Inc.0.000% -0.0%
JPMBB Commercial Mortgage Securities Trust0.752% 04/15/20470.0%
WFRBS Commercial Mortgage Trust0.572% 05/15/20470.0%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.0%
Eneva SA0.000% -0.0%
Access Point Funding I 2017-1 LLC3.060% 04/15/20290.0%
JPMBB Commercial Mortgage Securities Trust0.285% 04/15/20470.0%
DOMMO ENERGIA SA-SP ADR0.000% -0.0%
Afren plc10.250% 04/08/20220.0%
Templar Energy LLC0.000% -0.0%
Federal Home Loan Mortgage Corp.0.000% 08/15/20220.0%
FX MXN/USD 02/200.000% 02/14/20200.0%
Afren plc6.625% 12/09/20200.0%
Templar Energy LLC0.000% -0.0%
US 10YR NOTE (CBT)MAR200.000% 03/31/20200.0%
US LONG BOND(CBT) MAR200.000% 03/31/20200.0%
US ULTRA BOND CBT MAR200.000% 03/31/20200.0%
EURO-SCHATZ FUT MAR200.000% 03/10/20200.0%
Federal Home Loan Mortgage Corp.544.714% 12/15/20200.0%
Federal Home Loan Mortgage Corp.1185.497% 09/15/20210.0%
Federal Home Loan Mortgage Corp.982.654% 04/15/20220.0%
Federal Home Loan Mortgage Corp.1195.607% 04/15/20210.0%
Federal Home Loan Mortgage Corp.1007.780% 05/15/20210.0%
Federal Home Loan Mortgage Corp.1008.400% 11/15/20210.0%
Federal Home Loan Mortgage Corp.0.000% 10/15/20210.0%
Federal Home Loan Mortgage Corp.0.000% 06/15/20210.0%
Federal Home Loan Mortgage Corp.0.000% 07/01/20220.0%
Federal Home Loan Mortgage Corp.0.000% 09/15/20220.0%
Federal Home Loan Mortgage Corp.1007.000% 02/15/20220.0%
Federal Home Loan Mortgage Corp.1008.500% 04/15/20210.0%
Federal Home Loan Mortgage Corp.1009.000% 02/15/20210.0%
Federal Home Loan Mortgage Corp.1010.500% 02/15/20210.0%
Federal Home Loan Mortgage Corp.409.000% 04/15/20210.0%
Federal Home Loan Mortgage Corp.900.950% 12/15/20200.0%
Federal National Mortgage Assoc.0.000% 04/25/20220.0%
Federal National Mortgage Assoc.9.500% 08/25/20210.0%
Federal National Mortgage Assoc.1008.000% 12/25/20210.0%
FX USD/JPY 01/200.000% 01/08/20200.0%
OGX Austria GmbH8.500% 06/01/20190.0%
US 10YR ULTRA FUT MAR200.000% 03/31/20200.0%
US 2YR NOTE (CBT) MAR200.000% 04/03/20200.0%
US 5YR NOTE (CBT) MAR200.000% 04/03/20200.0%
FX USD/MXN 02/200.000% 02/14/20200.0%
FX USD/EUR 03/200.000% 03/09/20200.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 02/27/2020
$0.008
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 01/31/2020 $0.00825 $2.97

Upcoming Dividend Payment Dates

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

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
12/17/2020 12/18/2020

Fees & Expenses

Fees & Expenses

Expense Ratioas of 01/31/2020

1.07%

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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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
Fund Story
Publish Date:11/03/2015
Publish Date:11/03/2015

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* Barron’s Top Fund Families of 2019, February 14, 2020, #5 in the Taxable Bond Category among 55 fund families. Based on the net total return of the one−year period ending 12/31/2019. #14 Overall ranking among 55 qualifying fund families based on the net total return of the one-year period ending 12/31/2019. Five-year Overall ranking is #30 out of 52 fund families; 10-year Overall ranking is #33 out of 45 fund families.

 

Source: Barron’s, “Barron’s Top Fund Families of 2019,” February 14, 2020. Barron’s rankings are based on asset weighted returns in funds in five categories: U.S. equity, world equity (including international and global portfolios), mixed asset (which invest in stocks, bonds and other securities), taxable bond, and tax-exempt (each a "Barron's ranking category"). Rankings also take into account an individual fund's performance within its Lipper peer universe. Lipper calculated each fund's net total return for the year ended December 31, 2019, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer "universe," as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2019 weighting of their Barron's ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron's ranking category. The process is repeated for the five- and ten-year rankings as well. Barron's Fund Family Rankings are awarded annually.

 

© Reuters 2020. All Rights Reserved. Lipper Analytical Services, Inc. is an independent mutual fund research and rating service. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

 

+

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.

 

 

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

 

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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