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Income Fund

Daily price w/o sales charge as of 09/16/2019

$2.89

arrowUp$0.01

YTD Returns w/o sales charge as of 09/16/2019

10.32%

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 09/16/2019  

w/o sales charge 3.49%

30-Day Standardized Yield 2 as of 08/31/2019  

2.65%

Fund Basicsas of 08/30/2019

Total Net Assets
$2.57 B
Inception Date
07/02/2008
Dividend Frequency
Monthly
Fund Expense Ratio
1.07%
Number of Holdings
670

Fund Expense Ratio :

1.07%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/02/2008
w/o sales charge 11.67% 10.28% 4.43% 3.59% 5.95% 6.23%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 12.84% 11.96% 4.14% 3.95% 5.59% -
Bloomberg Barclays U.S. Credit Bond Index 13.35% 12.99% 4.47% 4.38% 5.57% 5.86%

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 8.74% 8.09% 4.33% 3.26% 6.39% 6.08%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 9.07% 9.43% 3.59% 3.48% 5.76% -
Bloomberg Barclays U.S. Credit Bond Index 9.35% 10.34% 3.74% 3.92% 5.77% 5.61%

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 08/30/2019 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 09/16/2019  

w/o sales charge 3.49%

30-Day Standardized Yield 2 as of 08/31/2019  

  Subsidized5 Un-Subsidized6
w/o sales charge 2.65% 2.65%

Fund Expense Ratio :

1.07%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/02/2008
w/o sales charge 11.67% 10.28% 4.43% 3.59% 5.95% 6.23%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 12.84% 11.96% 4.14% 3.95% 5.59% -
Bloomberg Barclays U.S. Credit Bond Index 13.35% 12.99% 4.47% 4.38% 5.57% 5.86%

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 8.74% 8.09% 4.33% 3.26% 6.39% 6.08%
Lipper Category Avg. Corporate Debt Funds BBB-Rated 9.07% 9.43% 3.59% 3.48% 5.76% -
Bloomberg Barclays U.S. Credit Bond Index 9.35% 10.34% 3.74% 3.92% 5.77% 5.61%

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% 3.83% - - 10.32%
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 08/30/2019

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 06/30/2019

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

Portfolio Details as of 08/30/2019

Total Net Assets
$2.57 B
Number of Issues
670
Average Coupon
4.98%
Average Life
8.23 Years
Average Maturity
8.23 Years
Average Effective Duration
6.08 Years

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

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

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

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

Holding Coupon Maturity Assets
J.P.Morgan Securities LLC 0.010% - 2.6%
U.S. Treasury Note/Bond 1.250% 08/31/2024 1.7%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl 4.700% 02/01/2036 1.4%
AT&T, Inc. 6.000% 08/15/2040 1.2%
Energy Transfer Partners L.P. 0.000% 09/03/2019 1.1%
CVS Caremark Corp. 4.300% 03/25/2028 1.0%
Verizon Communications, Inc. 3.618% 05/15/2025 0.8%
U.S. Treasury Note/Bond 1.625% 08/15/2029 0.8%
General Motors Co. 6.750% 04/01/2046 0.8%
Tencent Holdings Ltd. 3.595% 01/19/2028 0.8%
% of Total Assets 12.2%

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

Holding Coupon Maturity Assets
J.P.Morgan Securities LLC0.010% -2.5%
J.P.Morgan Securities LLC0.010% -2.2%
U.S. Treasury Note/Bond1.750% 06/30/20241.8%
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worl4.700% 02/01/20361.4%
AT&T, Inc.6.000% 08/15/20401.2%
CVS Caremark Corp.4.300% 03/25/20281.0%
General Motors Co.6.750% 04/01/20460.8%
Tencent Holdings Ltd.3.595% 01/19/20280.8%
U.S. Treasury Note/Bond2.625% 02/15/20290.7%
Ford Motor Co.7.450% 07/16/20310.7%
NBCUniversal Enterprise, Inc.5.250% 06/19/20990.6%
Time Warner Cable LLC7.300% 07/01/20380.6%
Broadcom Corp. / Broadcom Cayman Finance Ltd.3.875% 01/15/20270.6%
UBS AG Registered Shares5.125% 05/15/20240.6%
Universal Health Services, Inc.4.750% 08/01/20220.6%
Helmerich & Payne, Inc.4.650% 03/15/20250.6%
Kinder Morgan, Inc.7.750% 01/15/20320.6%
Teachers Insurance & Annuity Association of Americ4.900% 09/15/20440.6%
ENI SpA5.700% 10/01/20400.5%
Citigroup, Inc.3.887% 01/10/20280.5%
Valero Energy Corp.10.500% 03/15/20390.5%
VEREIT Operating Partnership L.P.4.875% 06/01/20260.5%
Danske Bank A/S5.375% 01/12/20240.5%
Energy Transfer Partners L.P.0.000% 08/01/20190.5%
BAT Capital Corp4.390% 08/15/20370.5%
Continental Resources, Inc.5.000% 09/15/20220.5%
Bank of Ireland Group PLC4.125% 09/19/20270.5%
PSEG Power LLC8.625% 04/15/20310.5%
GE Capital International Funding Co.4.418% 11/15/20350.5%
Bacardi Ltd.4.700% 05/15/20280.5%
Patterson-UTI Energy, Inc.3.950% 02/01/20280.5%
Apache Corp.5.100% 09/01/20400.5%
Sabine Pass Liquefaction LLC5.625% 04/15/20230.5%
Dell International LLC / EMC Corp.8.350% 07/15/20460.4%
Bermuda Government International Bond3.717% 01/25/20270.4%
Nvent Finance Sarl4.550% 04/15/20280.4%
CVS Caremark Corp.4.780% 03/25/20380.4%
Goldman Sachs Group, Inc.6.750% 10/01/20370.4%
Bank of America Corp.4.450% 03/03/20260.4%
Cox Communications, Inc.8.375% 03/01/20390.4%
UBS AG7.625% 08/17/20220.4%
NXP BV / NXP Funding LLC4.625% 06/01/20230.4%
Continental Resources, Inc.4.375% 01/15/20280.4%
NRG Energy, Inc.4.450% 06/15/20290.4%
Wells Fargo Capital X5.950% 12/15/20360.4%
DPL, Inc.4.350% 04/15/20290.4%
Newmont Mining Corp.3.700% 03/15/20230.4%
Sabine Pass Liquefaction LLC5.875% 06/30/20260.4%
CNH Capital LLC4.375% 04/05/20220.4%
Bank of America Corp.3.824% 01/20/20280.4%
Baidu, Inc.3.875% 09/29/20230.4%
Royal Caribbean Cruises Ltd.7.500% 10/15/20270.4%
General Electric Co.5.000% 12/31/20990.4%
U.S. Treasury Note/Bond3.000% 02/15/20490.4%
Hilcorp Energy L.P. / Hilcorp Finance Co.6.250% 11/01/20280.4%
Vodafone Group plc4.375% 05/30/20280.4%
Kerr-McGee Corp.7.875% 09/15/20310.4%
TransAlta Corp.4.500% 11/15/20220.4%
Exelon Generation Co. LLC6.250% 10/01/20390.4%
NGPL Pipeco LLC4.875% 08/15/20270.4%
EPR Properties4.950% 04/15/20280.4%
Myriad International Holdings BV6.000% 07/18/20200.3%
Starbucks Corp.3.550% 08/15/20290.3%
Energy Transfer Operating LP6.250% 04/15/20490.3%
Navient Corp.6.750% 06/25/20250.3%
Ausgrid Finance Pty Ltd4.350% 08/01/20280.3%
North Texas Tollway Auth8.910% 02/01/20300.3%
Fresenius Medical Care US Finance II, Inc.5.875% 01/31/20220.3%
CNO Financial Group, Inc.5.250% 05/30/20250.3%
Owens Corning7.000% 12/01/20360.3%
Santander Drive Auto Receivables Trust 2015-24.020% 09/15/20220.3%
Protective Life Corp.8.450% 10/15/20390.3%
Morgan Stanley3.875% 01/27/20260.3%
Dell International LLC / EMC Corp6.020% 06/15/20260.3%
Wabtec Corp.4.700% 09/15/20280.3%
CRH America Finance, Inc.3.950% 04/04/20280.3%
Freeport-McMoRan, Inc.5.450% 03/15/20430.3%
Capital Auto Receivables Asset Trust 2018-12.790% 01/20/20220.3%
Motiva Enterprises LLC5.750% 01/15/20200.3%
Nissan Motor Acceptance Corp.0.000% 08/26/20190.3%
Santander UK plc7.950% 10/26/20290.3%
Aircastle Ltd.4.250% 06/15/20260.3%
Dollar Tree, Inc.4.200% 05/15/20280.3%
Canadian Natural Resources Ltd.7.200% 01/15/20320.3%
CNAC HK Finbridge Co Ltd3.000% 07/19/20200.3%
American Airlines Class B Pass Through Trust4.375% 10/01/20220.3%
Trimble Navigation Ltd.4.900% 06/15/20280.3%
AerCap Ireland Capital Ltd.3.500% 01/15/20250.3%
Air Lease Corp.3.625% 04/01/20270.3%
Universal Health Services, Inc.5.000% 06/01/20260.3%
Carnival plc7.875% 06/01/20270.3%
Williams Cos., Inc.8.750% 03/15/20320.3%
National Fuel Gas Co.3.750% 03/01/20230.3%
Las Vegas Sands Corp.3.900% 08/08/20290.3%
Netflix, Inc.3.625% 05/15/20270.3%
Midcontinent Express Pipeline LLC6.700% 09/15/20190.3%
PVH Corp.7.750% 11/15/20230.3%
Aon plc8.205% 01/01/20270.3%
AT&T, Inc.6.200% 03/15/20400.3%
Imperial Tobacco Finance plc3.875% 07/26/20290.3%
Shackleton 2019-XIV Clo Ltd0.000% 07/20/20300.3%
Anglo American Capital plc4.750% 04/10/20270.3%
Harris Corp.4.400% 06/15/20280.3%
Wyndham Hotels & Resorts3.972% 03/28/20250.3%
Vistra Operations Co LLC4.300% 07/15/20290.3%
Time Warner Entertainment Co. L.P.8.375% 07/15/20330.3%
IFM US Colonial Pipeline 2 LLC6.450% 05/01/20210.3%
MPT Operating Partnership L.P.5.000% 10/15/20270.3%
Macquarie Group Ltd.4.654% 03/27/20290.3%
Fidelity National Financial Group4.500% 08/15/20280.3%
International Paper Co.7.300% 11/15/20390.3%
The Royal Bank of Scotland Group PLC3.875% 09/12/20230.2%
Anheuser-Busch InBev Worldwide, Inc.4.750% 01/23/20290.2%
Glencore Finance Canada Ltd.5.550% 10/25/20420.2%
Midwest Connector Capital Co LLC3.900% 04/01/20240.2%
Cleco Power LLC6.000% 12/01/20400.2%
Fresenius Medical Care US Finance II, Inc.4.750% 10/15/20240.2%
Verizon Communications, Inc.3.784% 05/15/20250.2%
National Australia Bank Ltd.0.000% 08/02/20340.2%
Caesars Palace Las Vegas Trust 2017-VICI3.531% 10/15/20340.2%
American Homes 4 Rent LP4.250% 02/15/20280.2%
Kinross Gold Corp.4.500% 07/15/20270.2%
Halliburton Co.7.450% 09/15/20390.2%
ALM VII Ltd4.153% 07/15/20290.2%
AT&T, Inc.6.350% 03/15/20400.2%
People's United Financial, Inc.3.650% 12/06/20220.2%
Drive Auto Receivables Trust 2019-22.930% 03/15/20220.2%
El Paso Electric Co.5.000% 12/01/20440.2%
Citigroup, Inc.3.668% 07/24/20280.2%
Neuberger Berman Group LLC4.875% 04/15/20450.2%
DBWF 2018-AMXP Mortgage Trust3.791% 05/05/20350.2%
Broadcom Inc3.625% 10/15/20240.2%
Smithfield Foods, Inc.5.200% 04/01/20290.2%
Bombardier, Inc.6.125% 01/15/20230.2%
Enel Finance International N.V.2.750% 04/06/20230.2%
Dominion Resources, Inc.7.000% 06/15/20380.2%
Embraer Overseas Ltd.5.696% 09/16/20230.2%
FirstEnergy Transmission LLC4.550% 04/01/20490.2%
Lloyds Bank plc6.500% 09/14/20200.2%
California Republic Auto Receivables Trust2.530% 06/15/20210.2%
SCANA Corp.4.125% 02/01/20220.2%
GATX Corp.4.550% 11/07/20280.2%
Webster Financial Corp.4.100% 03/25/20290.2%
Cimarex Energy Co.4.375% 03/15/20290.2%
Alibaba Group Holding Ltd.3.400% 12/06/20270.2%
JB y Co SA de CV3.750% 05/13/20250.2%
Cleco Corp.4.973% 05/01/20460.2%
IHS Markit Ltd4.000% 03/01/20260.2%
U.S. Treasury Note/Bond2.875% 11/15/20210.2%
Discover Bank4.682% 08/09/20280.2%
AerCap Ireland Capital Ltd.3.650% 07/21/20270.2%
Ammc Clo 19 Ltd.3.803% 10/15/20280.2%
Venture XXIV CLO Ltd4.328% 10/20/20280.2%
Weyerhaeuser Co.8.500% 01/15/20250.2%
American Airlines Class B Pass Through Trust5.625% 01/15/20210.2%
Brixmor Operating Partnership L.P.3.850% 02/01/20250.2%
National Oilwell Varco, Inc.3.950% 12/01/20420.2%
Boston Scientific Corp.0.000% 08/13/20190.2%
American Airlines Class B Pass Through Trust5.600% 07/15/20200.2%
ICG US CLO 2015-2 Ltd3.172% 01/16/20280.2%
Government National Mortgage Association2.600% 06/16/20570.2%
BlueMountain CLO 2016-1 Ltd3.628% 04/20/20270.2%
Panera Bread Company4.063% 07/18/20220.2%
Hardee's Funding LLC4.959% 06/20/20480.2%
Telefonica Emisiones SAU5.520% 03/01/20490.2%
Hanover Insurance Group, Inc.4.500% 04/15/20260.2%
General Electric Co.2.700% 10/09/20220.2%
AXIS Specialty Finance LLC3.900% 07/15/20290.2%
Petroleos Mexicanos3.500% 01/30/20230.2%
Leidos, Inc.7.125% 07/01/20320.2%
Puget Energy, Inc.3.650% 05/15/20250.2%
Phosagro OAO via Phosagro Bond Funding Ltd3.949% 04/24/20230.2%
Enbridge, Inc.6.000% 01/15/20770.2%
Macquarie Bank Ltd.6.625% 04/07/20210.2%
Origin Energy Finance Ltd.5.450% 10/14/20210.2%
Baidu, Inc.3.625% 07/06/20270.2%
Burlington Northern Santa Fe LLC5.750% 05/01/20400.2%
First Data Corp.5.375% 08/15/20230.2%
OHA Loan Funding 2016-1 Ltd4.078% 01/20/20280.2%
Sabine Pass Liquefaction LLC5.750% 05/15/20240.2%
Discover Financial Services4.100% 02/09/20270.2%
Radian Group, Inc.4.875% 03/15/20270.2%
Hudson Pacific Properties LP4.650% 04/01/20290.2%
Neuberger Berman Group LLC4.500% 03/15/20270.2%
World Financial Network Credit Card Master Trust2.030% 04/15/20250.2%
Expedia, Inc.5.000% 02/15/20260.2%
Gazprom OAO Via Gaz Capital SA4.950% 02/06/20280.2%
Southern Copper Corp.5.250% 11/08/20420.2%
GS Mortgage Securities Corp Trust 2018-FBLU5.075% 11/15/20350.2%
Nationstar Mortgage Holdings, Inc.9.125% 07/15/20260.2%
Royal Caribbean Cruises Ltd.5.250% 11/15/20220.2%
Roper Industries, Inc.3.850% 12/15/20250.2%
Energy Transfer Operating LP8.250% 11/15/20290.2%
Geo Group, Inc.6.000% 04/15/20260.2%
Conn's Receivables Funding 2017-B LLC5.950% 11/15/20220.2%
Morgan Stanley3.958% 05/08/20240.2%
Equinix, Inc.5.875% 01/15/20260.2%
BBVA Bancomer SA5.125% 01/18/20330.2%
Flagship Credit Auto Trust 2019-14.080% 02/18/20250.2%
Crown Castle International Corp.0.000% 08/08/20190.2%
National Fuel Gas Co.4.900% 12/01/20210.2%
Brightsphere Investment Group Inc4.800% 07/27/20260.2%
Newell Rubbermaid, Inc.4.000% 12/01/20240.2%
Kennametal, Inc.4.625% 06/15/20280.2%
Calpine Corp.5.500% 02/01/20240.2%
American Axle & Manufacturing, Inc.6.500% 04/01/20270.2%
Solera Finance, Inc.10.500% 03/01/20240.2%
Embraer Netherlands Finance BV5.050% 06/15/20250.2%
Northwell Healthcare, Inc.3.979% 11/01/20460.2%
Spectra Energy Partners L.P.3.299% 06/05/20200.2%
BMW Vehicle Lease Trust 2019-12.790% 03/22/20210.2%
Vulcan Materials Co.3.170% 03/01/20210.2%
Oasis Petroleum, Inc.6.875% 03/15/20220.2%
Santander UK Group Holdings plc3.823% 11/03/20280.2%
Zimmer Biomet Holdings, Inc.5.750% 11/30/20390.2%
Mylan, Inc.0.000% 08/02/20190.2%
Avolon Holdings Funding Ltd5.125% 10/01/20230.2%
Selective Insurance Group, Inc.5.375% 03/01/20490.2%
Pentair Finance SA2.650% 12/01/20190.2%
GM Financial Automobile Leasing Trust 2017-32.010% 11/20/20200.2%
Mississippi Power Co.4.250% 03/15/20420.2%
Oglethorpe Power Corp.5.050% 10/01/20480.2%
Energy Transfer Partners L.P.0.000% 08/06/20190.2%
Equinix, Inc.5.375% 05/15/20270.2%
Andeavor Logistics LP6.875% 12/31/20990.1%
Centene Corp.5.625% 02/15/20210.1%
HCA, Inc.5.125% 06/15/20390.1%
World Financial Network Credit Card Master Trust2.660% 08/15/20240.1%
Entergy Corp.0.000% 08/01/20190.1%
TIBCO Software, Inc.11.375% 12/01/20210.1%
Bank of Montreal3.803% 12/15/20320.1%
Caesars Palace Las Vegas Trust 2017-VICI3.835% 10/15/20340.1%
Capital Auto Receivables Asset Trust3.340% 03/22/20210.1%
Palmer Square Loan Funding 2018-1 Ltd2.903% 04/15/20260.1%
Jamestown CLO IX Ltd0.000% 10/20/20280.1%
Healthcare Trust of America Holdings LP2.950% 07/01/20220.1%
Barrick International Barbados Corp.6.350% 10/15/20360.1%
Foursight Capital Automobile Receivables Trust 2014.190% 11/15/20230.1%
Bayer Corp6.650% 02/15/20280.1%
Verizon Communications, Inc.4.862% 08/21/20460.1%
CVS Caremark Corp.5.050% 03/25/20480.1%
Pentair Finance SA4.500% 07/01/20290.1%
Marriott International, Inc.0.000% 09/11/20190.1%
Lincoln National Corp.7.000% 06/15/20400.1%
Express Scripts Holding Co.6.125% 11/15/20410.1%
Unum Group5.750% 08/15/20420.1%
Centene Corp.5.375% 06/01/20260.1%
Newell Rubbermaid, Inc.3.850% 04/01/20230.1%
AT&T, Inc.6.250% 03/29/20410.1%
Exelon Generation Co. LLC5.600% 06/15/20420.1%
McDonald's Corp.6.300% 03/01/20380.1%
Lincoln National Corp.6.300% 10/09/20370.1%
Silversea Cruise Finance Ltd.7.250% 02/01/20250.1%
Westpac Banking Corp.4.322% 11/23/20310.1%
Country Garden Holdings Co. Ltd.4.750% 09/28/20230.1%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.1%
Waste Pro USA Inc5.500% 02/15/20260.1%
Barclays Bank plc10.179% 06/12/20210.1%
Burlington Northern Santa Fe LLC6.150% 05/01/20370.1%
Liberty Mutual Group, Inc.4.500% 06/15/20490.1%
Southern California Edison Co.0.000% 08/02/20190.1%
United Rentals, Inc.4.875% 01/15/20280.1%
Harris Corp.4.400% 06/15/20280.1%
WeWork Cos Inc7.875% 05/01/20250.1%
Appalachian Power Co.7.000% 04/01/20380.1%
Provident Funding Associates L.P. / PFG Finance Co6.375% 06/15/20250.1%
Vale Overseas Ltd.6.250% 08/10/20260.1%
Duqesne Light Holdings, Inc.6.250% 08/15/20350.1%
Republic of Argentina4.625% 01/11/20230.1%
Continental Rubber of America Corp.0.000% 08/01/20190.1%
Westpac Banking Corp.4.110% 07/24/20340.1%
Tenneco, Inc.5.000% 07/15/20260.1%
PTL Finance Corp.3.450% 07/01/20240.1%
GCI LLC6.875% 04/15/20250.1%
Level 3 Parent LLC5.750% 12/01/20220.1%
CNH Capital LLC4.875% 04/01/20210.1%
Time Warner Cable LLC6.550% 05/01/20370.1%
Expedia, Inc.3.800% 02/15/20280.1%
Nissan Motor Acceptance Corp.3.020% 09/28/20220.1%
Imperial Tobacco Finance plc3.125% 07/26/20240.1%
Century Communities, Inc.5.875% 07/15/20250.1%
Drive Auto Receivables Trust 2017-12.840% 04/15/20220.1%
Indika Energy Capital III Pte Ltd5.875% 11/09/20240.1%
SCE Trust III0.000% -0.1%
Petroleos Mexicanos4.875% 01/18/20240.1%
Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor4.080% 12/15/20470.1%
E*TRADE Financial Corp.4.500% 06/20/20280.1%
New Gold, Inc.6.250% 11/15/20220.1%
FedEx Corp.4.950% 10/17/20480.1%
Florida Gas Transmission Co., LLC3.875% 07/15/20220.1%
Global Aircraft Leasing Co Ltd6.500% 09/15/20240.1%
AerCap Ireland Capital Ltd.4.875% 01/16/20240.1%
CIT Group, Inc.6.125% 03/09/20280.1%
Peabody Energy Corp.6.000% 03/31/20220.1%
General Electric Co.3.150% 09/07/20220.1%
KCP&L Greater Missouri Operations Co.0.000% 08/01/20190.1%
Emera, Inc.6.750% 06/15/20760.1%
National Fuel Gas Co.3.950% 09/15/20270.1%
Marvell Technology Group Ltd.4.200% 06/22/20230.1%
PPL WEM Ltd./Western Power Distribution Ltd.5.375% 05/01/20210.1%
North Texas Tollway Auth8.410% 02/01/20300.1%
US Cellular Corp.6.700% 12/15/20330.1%
Seven Generations Energy Ltd.6.875% 06/30/20230.1%
Sabal Trail Transmission LLC4.246% 05/01/20280.1%
Norfolk Southern Corp.5.590% 05/17/20250.1%
Titan International, Inc.6.500% 11/30/20230.1%
Hunt Cos Inc6.250% 02/15/20260.1%
Energy Transfer Operating LP9.000% 11/01/20240.1%
Scientific Games International, Inc.6.625% 05/15/20210.1%
CPS Auto Trust4.610% 12/15/20220.1%
Litton Industries, Inc.7.750% 03/15/20260.1%
Bombardier, Inc.7.500% 03/15/20250.1%
T-Mobile USA, Inc.6.000% 04/15/20240.1%
SCANA Corp.4.750% 05/15/20210.1%
Itron, Inc.5.000% 01/15/20260.1%
Cedar Funding VI CLO Ltd3.878% 10/20/20280.1%
Wabash National Corp.5.500% 10/01/20250.1%
Barrick North America Finance LLC7.500% 09/15/20380.1%
General Electric Co.2.945% 05/05/20260.1%
Cleveland Electric Illuminating Co.3.500% 04/01/20280.1%
Bowman Park CLO Ltd.3.704% 11/23/20250.1%
Santander Drive Auto Receivables Trust 2015-23.020% 04/15/20210.1%
Chaparral Energy, Inc.8.750% 07/15/20230.1%
ZF North America Capital, Inc.4.750% 04/29/20250.1%
Precision Drilling Corp.5.250% 11/15/20240.1%
Reynolds Group Issuer, Inc.5.750% 10/15/20200.1%
SURA Asset Management SA4.375% 04/11/20270.1%
CVS Holdings I, LP5.000% 02/06/20250.1%
Gulfstream Natural Gas System LLC4.600% 09/15/20250.1%
Mountain View CLO X Ltd3.653% 10/13/20270.1%
Citigroup, Inc.4.600% 03/09/20260.1%
Acwa Power Management And Investments One Ltd5.950% 12/15/20390.1%
MMC Norilsk Nickel OJSC via MMC Finance Ltd.4.100% 04/11/20230.1%
Standard Chartered plc4.247% 01/20/20230.1%
Government National Mortgage Association2.700% 07/16/20570.1%
Thacher Park CLO Ltd.3.438% 10/20/20260.1%
Bahamas Government International Bond6.950% 11/20/20290.1%
Interstate Power & Light Co3.600% 04/01/20290.1%
Adani Transmission Ltd4.000% 08/03/20260.1%
Griffon Corp.5.250% 03/01/20220.1%
Northrop Grumman Systems Corp.7.750% 02/15/20310.1%
KazMunayGas National Co.6.375% 10/24/20480.1%
Air Canada 2015-2 Class B Pass Through Trust5.000% 12/15/20230.1%
Caesars Palace Las Vegas Trust 2017-VICI4.138% 10/15/20340.1%
Sound Point Clo XV Ltd4.759% 01/23/20290.1%
Crown Castle International Corp.0.000% 08/09/20190.1%
Murphy Oil Corp.6.875% 08/15/20240.1%
AbbVie, Inc.4.875% 11/14/20480.1%
Popular, Inc.6.125% 09/14/20230.1%
Yum! Brands, Inc.6.875% 11/15/20370.1%
SL Green Operating Partnership L.P.3.250% 10/15/20220.1%
Syngenta Wilmington, Inc.0.000% 09/13/20190.1%
WestRock Co.0.000% 08/02/20190.1%
PG&E Corp3.875% 04/27/20210.1%
Rayonier AM Products, Inc.5.500% 06/01/20240.1%
MHP Lux SA6.950% 04/03/20260.1%
YPF S.A.6.950% 07/21/20270.1%
Citizens Financial Group, Inc.4.150% 09/28/20220.1%
Vulcan Materials Co.4.700% 03/01/20480.1%
Palmer Square Loan Funding 2017-1 Ltd4.003% 10/15/20250.1%
Banco Mercantil del Norte SA/Grand Cayman7.625% 07/06/21670.1%
Marathon Petroleum Corp.5.375% 10/01/20220.1%
Oztel Holdings SPC Ltd6.625% 04/24/20280.1%
EPR Properties4.500% 04/01/20250.1%
Ford Motor Credit Co. LLC5.113% 05/03/20290.1%
Albertsons Cos LLC / Safeway, Inc. / New Albertson6.625% 06/15/20240.1%
Williams Scotsman International Inc7.875% 12/15/20220.1%
Mohegan Tribal Gaming Authority7.875% 10/15/20240.1%
Tesoro Logistics L.P.6.250% 10/15/20220.1%
Discover Financial Services3.850% 11/21/20220.1%
Government National Mortgage Association2.750% 02/16/20580.1%
China Evergrande Group10.000% 04/11/20230.1%
ZF North America Capital, Inc.4.000% 04/29/20200.1%
Bahamas Government International Bond6.000% 11/21/20280.1%
Illinois, IL5.100% 06/01/20330.1%
Salem Fields CLO Ltd 2016-23.976% 10/25/20280.1%
Jamestown CLO VII Ltd.3.576% 07/25/20270.1%
Valmont Industries, Inc.5.250% 10/01/20540.1%
EnCana Corp.0.000% 08/01/20190.1%
Zimmer Biomet Holdings, Inc.3.375% 11/30/20210.1%
Texas Eastern Transmission L.P.4.125% 12/01/20200.1%
Newmont Mining Corp.3.625% 06/09/20210.1%
Macquarie Bank Ltd.4.875% 06/10/20250.1%
Minejesa Capital BV5.625% 08/10/20370.1%
Wells Fargo Commercial Mortgage Trust4.285% 07/15/20460.1%
Laredo Petroleum Holdings, Inc.5.625% 01/15/20220.1%
Martin Marietta Materials, Inc.3.313% 05/22/20200.1%
Polaris Intermediate Corp8.500% 12/01/20220.1%
AbbVie, Inc.4.700% 05/14/20450.1%
Vedanta Resources plc6.125% 08/09/20240.1%
BP Capital Markets plc0.000% 08/01/20190.1%
Berry Petroleum Co.7.000% 02/15/20260.1%
Mountain Hawk III CLO Ltd.3.500% 04/18/20250.1%
MEG Energy Corp.6.375% 01/30/20230.1%
Electricite de France SA5.000% 09/21/20480.1%
CSMC Trust4.373% 09/15/20370.1%
Regatta VI Funding Ltd4.328% 07/20/20280.1%
Synchrony Credit Card Master Note Trust2.820% 10/15/20250.1%
COMM Mortgage Trust4.440% 07/10/20500.1%
Huntington Bancshares, Inc.5.700% 12/31/20990.1%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.1%
Yingde Gases Investment Ltd6.250% 01/19/20230.1%
BWAY Holding Co.7.250% 04/15/20250.1%
Canadian Pacific Railway Co.7.125% 10/15/20310.1%
Charter Communications Operating LLC6.484% 10/23/20450.1%
Eldorado Resorts, Inc.6.000% 09/15/20260.1%
Eterna Capital Pte Ltd7.500% 12/11/20220.1%
Hyundai Capital America1.750% 09/27/20190.1%
Nissan Motor Acceptance Corp.3.131% 03/15/20210.1%
JPMBB Commercial Mortgage Securities Trust4.269% 07/15/20480.1%
Citgo Holding, Inc.9.250% 08/01/20240.1%
Turkiye Vakiflar Bankasi Tao5.750% 01/30/20230.1%
SESI LLC7.125% 12/15/20210.1%
Infraestructura Energetica Nova SAB de CV4.875% 01/14/20480.1%
Government National Mortgage Association2.600% 07/16/20580.1%
Enterprise Products Operating LLC7.550% 04/15/20380.1%
Spirit Realty LP4.000% 07/15/20290.1%
SL Green Realty Corp.4.500% 12/01/20220.1%
Glencore Funding LLC4.125% 05/30/20230.1%
United Rentals North AM4.148% 10/31/20250.1%
Delphi Automotive plc4.350% 03/15/20290.1%
Amphenol Corp.0.000% 08/01/20190.1%
Red de Carreteras de Occidente SAPIB de CV9.000% 06/10/20280.1%
VA Electric & Power Co.8.875% 11/15/20380.1%
Palmer Square Loan Funding 2018-1 Ltd3.353% 04/15/20260.1%
Enbridge US Inc0.000% 08/05/20190.1%
Range Resources Corp.5.000% 08/15/20220.1%
Southern Star Central Corp.5.125% 07/15/20220.1%
Cent CLO Ltd.3.586% 10/29/20250.1%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.1%
U.S. Treasury Note/Bond2.750% 11/15/20470.1%
General Electric Co.3.100% 01/09/20230.1%
CPG Merger Sub LLC8.000% 10/01/20210.1%
E*TRADE Financial Corp.3.800% 08/24/20270.1%
MidOcean Credit CLO VI4.178% 01/20/20290.1%
Northrop Grumman Systems Corp.7.875% 03/01/20260.1%
Park Aerospace Holdings Ltd4.500% 03/15/20230.1%
Enterprise Fleet Financing LLC2.870% 10/20/20230.1%
Syngenta Finance NV4.441% 04/24/20230.1%
Cox Communications, Inc.4.500% 06/30/20430.1%
Danske Bank A/S2.800% 03/10/20210.1%
Weibo Corp.3.500% 07/05/20240.1%
Royal Caribbean Cruises Ltd.0.000% 08/01/20190.1%
Bayer US Finance II LLC3.875% 12/15/20230.1%
BlueMountain CLO 2013-1 Ltd4.028% 01/20/20290.1%
DRB Prime Student Loan Trust3.200% 01/25/20400.1%
Avery Point CLO Ltd.3.876% 04/25/20260.1%
Royal Caribbean Cruises Ltd.0.000% 08/02/20190.1%
Park Aerospace Holdings Ltd5.500% 02/15/20240.1%
Madison Park Funding XXI Ltd3.806% 07/25/20290.1%
Duqesne Light Holdings, Inc.6.400% 09/15/20200.1%
Energy Transfer Operating LP6.125% 12/15/20450.1%
Genesys Telecommunications Laboratories Inc/Greene10.000% 11/30/20240.0%
Sterigenics-Nordion Topco LLC8.125% 11/01/20210.0%
Scientific Games International, Inc.10.000% 12/01/20220.0%
Palmer Square Loan Funding 2018-1 Ltd3.703% 04/15/20260.0%
York Risk Services5.984% 10/01/20210.0%
Microchip Technology Inc4.330% 05/23/20250.0%
BAE Systems Finance Inc7.500% 07/01/20270.0%
Illinois, IL4.950% 06/01/20230.0%
UTEX Industries9.484% 05/22/20220.0%
Macquarie Bank Ltd./London6.125% 03/08/21670.0%
Citigroup, Inc.5.950% 12/31/20990.0%
PTL Finance Corp.3.950% 03/10/20250.0%
Lockheed Martin Corp.7.750% 05/01/20260.0%
RPI Finance Trust4.776% 03/27/20230.0%
California Republic Auto Receivables Trust 2015-43.730% 11/15/20210.0%
Broadcom Inc0.000% 08/08/20190.0%
ACC Trust 2018-14.820% 05/20/20210.0%
Royal Caribbean Cruises Ltd.3.700% 03/15/20280.0%
West Fraser Timber Co. Ltd.4.350% 10/15/20240.0%
Bombardier, Inc.8.750% 12/01/20210.0%
Rede D'or Finance Sarl4.950% 01/17/20280.0%
Crown Castle International Corp.0.000% 08/01/20190.0%
CenterPoint Energy Resources Corp0.000% 08/01/20190.0%
Fortive Corp.0.000% 08/01/20190.0%
Southern California Edison Co.0.000% 08/09/20190.0%
Triumph Group, Inc.4.875% 04/01/20210.0%
GS Mortgage Securities Trust4.410% 07/10/20480.0%
FirstEnergy Transmission LLC4.350% 01/15/20250.0%
Turkiye Vakiflar Bankasi Tao5.625% 05/30/20220.0%
Bill Barrett Corp.7.000% 10/15/20220.0%
Reynolds American, Inc.4.450% 06/12/20250.0%
Joseph T Ryerson & Son, Inc.11.000% 05/15/20220.0%
Doncasters US Finance LLC (Doncasters US LLC)5.830% 04/09/20200.0%
Emera US Finance L.P.2.700% 06/15/20210.0%
Newell Rubbermaid, Inc.5.000% 11/15/20230.0%
AT&T, Inc.5.350% 09/01/20400.0%
Willis North America, Inc.7.000% 09/29/20190.0%
General Motors Financial Co., Inc.0.000% 08/01/20190.0%
Carrizo Oil & Gas, Inc.6.250% 04/15/20230.0%
Colfax Corp.0.000% 12/17/20200.0%
GS Mortgage Securities Trust1.424% 06/10/20460.0%
Symantec Corp4.483% 08/01/20210.0%
Galaxy XXI CLO Ltd3.298% 04/20/20310.0%
SCF Equipment Leasing 2017-2 LLC3.410% 12/20/20230.0%
Smithfield Foods, Inc.3.350% 02/01/20220.0%
Navios South American Logistics Inc / Navios Logis7.250% 05/01/20220.0%
Berkshire Hathaway Finance Corp.4.250% 01/15/20490.0%
Santander UK plc5.000% 11/07/20230.0%
Boston Scientific Corp.0.000% 08/29/20190.0%
McDonald's Corp.6.300% 10/15/20370.0%
Palmer Square Loan Funding 2018-5 Ltd3.678% 01/20/20270.0%
Studio City Co Ltd7.250% 11/30/20210.0%
NOVA Chemicals Corp.5.250% 08/01/20230.0%
GS Mortgage Securities Trust0.517% 06/10/20460.0%
Enable Midstream Partners L.P.0.000% 08/09/20190.0%
Boston Scientific Corp.0.000% 08/22/20190.0%
Danske Bank A/S4.375% 06/12/20280.0%
Bunge Asset Funding Corp0.000% 08/01/20190.0%
Enable Midstream Partners L.P.0.000% 08/21/20190.0%
Santander Drive Auto Receivables Trust 2016-14.020% 04/15/20220.0%
Halcyon Loan Advisors Funding Ltd.4.426% 07/25/20270.0%
ACC Trust 2018-16.810% 02/21/20230.0%
Apex Credit CLO 2017 Ltd4.233% 04/24/20290.0%
Country Garden Holdings Co. Ltd.4.750% 01/17/20230.0%
Boston Scientific Corp.0.000% 09/16/20190.0%
Campbell Soup Co.0.000% 09/05/20190.0%
Glencore Funding LLC3.000% 10/27/20220.0%
Elanco Animal Health Inc4.900% 08/28/20280.0%
Cintas Corp No 20.000% 08/01/20190.0%
Capitol Investment Merger Sub 2 LLC10.000% 08/01/20240.0%
Boston Scientific Corp.0.000% 09/17/20190.0%
Apex Credit CLO 2016 Ltd4.106% 10/27/20280.0%
Seneca Park CLO Ltd.3.423% 07/17/20260.0%
CSX Corporation, Inc.7.875% 05/15/20430.0%
Drive Auto Receivables Trust3.840% 07/15/20210.0%
Compass Bank3.875% 04/10/20250.0%
Carrizo Oil & Gas, Inc.8.250% 07/15/20250.0%
Apidos CLO XVI5.303% 01/19/20250.0%
Drive Auto Receivables Trust3.020% 11/15/20210.0%
Lockheed Martin Tactical Systems Inc7.625% 06/15/20250.0%
Drive Auto Receivables Trust4.180% 03/15/20240.0%
Metropolitan Edison Co.4.000% 04/15/20250.0%
Avis Budget Rental Car Funding2.630% 12/20/20210.0%
Illinois, IL5.520% 04/01/20380.0%
Glencore Finance Canada Ltd.4.250% 10/25/20220.0%
Drive Auto Receivables Trust4.590% 01/17/20230.0%
International Lease Finance Corp.5.875% 08/15/20220.0%
UTEX Industries6.234% 05/22/20210.0%
Affiliated Managers Group, Inc.4.250% 02/15/20240.0%
Avery Point CLO Ltd.3.283% 07/17/20260.0%
SCANA Corp.6.250% 04/01/20200.0%
Ashtead Capital, Inc.5.625% 10/01/20240.0%
Merrill Lynch Mortgage Investors Trust Series6.250% 10/25/20360.0%
Boston Scientific Corp.0.000% 08/09/20190.0%
Kilroy Realty L.P.4.375% 10/01/20250.0%
CIT Group, Inc.5.800% 12/31/20990.0%
Government National Mortgage Association0.623% 07/16/20540.0%
IHS Markit Ltd3.625% 05/01/20240.0%
General Electric Co.3.375% 03/11/20240.0%
HudBay Minerals, Inc.7.625% 01/15/20250.0%
Canadian Pacific Railway Co.9.450% 08/01/20210.0%
Bayer US Finance II LLC3.500% 06/25/20210.0%
Intesa Sanpaolo SpA6.500% 02/24/20210.0%
Affiliated Managers Group, Inc.3.500% 08/01/20250.0%
Frontier Communications Corp.8.500% 04/15/20200.0%
Pyxus International Inc9.875% 07/15/20210.0%
El Paso Electric Co.6.000% 05/15/20350.0%
Hudsons Bay Simon JV Trust0.541% 08/05/20340.0%
General Electric Co.3.450% 05/15/20240.0%
Oncor Electric Delivery Co. LLC7.500% 09/01/20380.0%
Kinetic Concepts, Inc. / KCI USA, Inc.12.500% 11/01/20210.0%
California Republic Auto Receivables Trust1.750% 01/15/20210.0%
PG&E Corp5.029% 12/31/20200.0%
Magna International, Inc.0.000% 08/01/20190.0%
Cox Communications, Inc.4.700% 12/15/20420.0%
NXP BV / NXP Funding LLC3.875% 09/01/20220.0%
OneMain Financial Issuance Trust 2016-1A3.660% 02/20/20290.0%
WFRBS Commercial Mortgage Trust0.974% 05/15/20470.0%
GS Mortgage Securities Trust0.183% 11/10/20480.0%
Bank of America Corp.3.170% 09/15/20260.0%
National Fuel Gas Co.0.000% 08/01/20190.0%
Energy Transfer Partners L.P.0.000% 08/02/20190.0%
Range Resources Corp.5.875% 07/01/20220.0%
Valero Energy Corp.7.500% 04/15/20320.0%
Anheuser-Busch InBev Worldwide, Inc.8.200% 01/15/20390.0%
William Lyon Homes, Inc.7.000% 08/15/20220.0%
Dominion Resources, Inc.0.000% 08/15/20190.0%
HudBay Minerals, Inc.7.250% 01/15/20230.0%
Oncor Electric Delivery Co. LLC7.000% 05/01/20320.0%
Access Point Funding I 2017-1 LLC3.060% 04/15/20290.0%
Bayer US Finance II LLC2.750% 07/15/20210.0%
EnCana Corp.0.000% 09/19/20190.0%
EnCana Corp.0.000% 08/26/20190.0%
Sequoia Mortgage Trust 2012-42.069% 09/25/20420.0%
Glencore Funding LLC4.125% 03/12/20240.0%
Boston Scientific Corp.0.000% 08/12/20190.0%
Teva Pharmaceutical Finance Co. B.V.3.650% 11/10/20210.0%
Public Service Co. of New Mexico3.850% 08/01/20250.0%
NRG Yield, Inc.3.250% 06/01/20200.0%
Doncasters US Finance LLC (Doncasters US LLC)10.580% 10/09/20200.0%
Energy Transfer Partners LP / Regency Energy Finan5.000% 10/01/20220.0%
Hudsons Bay Simon JV Trust0.493% 08/05/20340.0%
Chaparral Energy, Inc.0.000% -0.0%
Orchestra Borrower LLC / Orchestra Co-Issuer Inc6.750% 06/15/20220.0%
Boston Scientific Corp.0.000% 08/05/20190.0%
Boston Scientific Corp.0.000% 08/07/20190.0%
Fortive Corp.0.000% 08/09/20190.0%
South Jersey Gas Co0.000% 08/13/20190.0%
Reynolds Group Issuer, Inc.6.875% 02/15/20210.0%
Altice Luxembourg SA7.750% 05/15/20220.0%
Antero Resources Corp.5.125% 12/01/20220.0%
Interstate Power & Light Co4.700% 10/15/20430.0%
Fiat Chrysler Automobiles N.V.5.250% 04/15/20230.0%
Diamond Resorts Owner Trust3.080% 11/20/20280.0%
Vodafone Group plc3.750% 01/16/20240.0%
Canadian National Railway Co.7.375% 10/15/20310.0%
Canadian Oil Sands Ltd.4.500% 04/01/20220.0%
MEG Energy Corp.6.500% 01/15/20250.0%
Trinity Acquisition plc4.625% 08/15/20230.0%
DaVita HealthCare Partners Inc. (fka DaVita Inc.)5.343% 06/24/20210.0%
PG&E Corp5.029% 12/31/20200.0%
Glencore Funding LLC4.625% 04/29/20240.0%
Huntington Auto Trust1.590% 11/16/20200.0%
FX USD/EUR 09/190.000% 09/09/20190.0%
APX Group, Inc.8.750% 12/01/20200.0%
Templar Energy LLC0.000% -0.0%
Union Pacific Corp.6.625% 02/01/20290.0%
JPMBB Commercial Mortgage Securities Trust0.797% 04/15/20470.0%
WFRBS Commercial Mortgage Trust0.573% 05/15/20470.0%
CSX Corp.6.000% 10/01/20360.0%
FX USD/EUR 09/190.000% 09/09/20190.0%
DOMMO ENERGIA SA-SP ADR0.000% -0.0%
JPMBB Commercial Mortgage Securities Trust0.303% 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%
FX USD/EUR 09/190.000% 09/09/20190.0%
Afren plc6.625% 12/09/20200.0%
Federal Home Loan Mortgage Corp.0.000% 09/15/20220.0%
Worldpay, LLC4.383% 01/16/20230.0%
Templar Energy LLC0.000% -0.0%
US 10YR NOTE (CBT)SEP190.000% 09/30/20190.0%
US LONG BOND(CBT) SEP190.000% 09/30/20190.0%
US ULTRA BOND CBT SEP190.000% 09/30/20190.0%
EURO-SCHATZ FUT SEP190.000% 09/10/20190.0%
Federal Home Loan Mortgage Corp.544.714% 12/15/20200.0%
Federal Home Loan Mortgage Corp.1185.497% 09/15/20210.0%
Federal Home Loan Mortgage Corp.982.654% 04/15/20220.0%
Federal Home Loan Mortgage Corp.1195.607% 04/15/20210.0%
Federal Home Loan Mortgage Corp.1007.780% 05/15/20210.0%
Federal Home Loan Mortgage Corp.1008.400% 11/15/20210.0%
Federal Home Loan Mortgage Corp.0.000% 10/15/20210.0%
Federal Home Loan Mortgage Corp.0.000% 06/15/20210.0%
Federal Home Loan Mortgage Corp.0.000% 07/01/20220.0%
Federal Home Loan Mortgage Corp.1007.000% 02/15/20220.0%
Federal Home Loan Mortgage Corp.1008.500% 04/15/20210.0%
Federal Home Loan Mortgage Corp.1009.000% 02/15/20210.0%
Federal Home Loan Mortgage Corp.1010.500% 02/15/20210.0%
Federal Home Loan Mortgage Corp.409.000% 04/15/20210.0%
Federal Home Loan Mortgage Corp.900.950% 12/15/20200.0%
Federal National Mortgage Assoc.0.000% 04/25/20220.0%
Federal National Mortgage Assoc.9.500% 08/25/20210.0%
Federal National Mortgage Assoc.1008.000% 12/25/20210.0%
OGX Austria GmbH8.500% 06/01/20190.0%
US 10YR ULTRA FUT SEP190.000% 09/30/20190.0%
US 2YR NOTE (CBT) SEP190.000% 10/03/20190.0%
US 5YR NOTE (CBT) SEP190.000% 10/03/20190.0%
FX EUR/USD 09/190.000% 09/09/20190.0%
FX USD/MXN 08/190.000% 08/14/20190.0%
FX EUR/USD 09/190.000% 09/09/20190.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%
Commercial Mortgage Backed Index Swap0.350% 10/17/20570.0%

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

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 09/16/2019
$0.070
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 08/31/2019 $0.00840 $2.93
Daily Daily 07/31/2019 $0.00856 $2.88
Daily Daily 06/30/2019 $0.00878 $2.87
Daily Daily 05/31/2019 $0.00877 $2.82
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 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 08/31/2019

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
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.

 

 

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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