LIFAX | Inflation Focused Fund Class A | Lord Abbett

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Inflation Focused Fund

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Daily price w/o sales charge as of 10/21/2024

$11.67

arrowDown$0.04

YTD Returns w/o sales charge as of 10/21/2024

4.79%

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 Inflation Focused Fund?

The Fund seeks to deliver total returns that exceed the rate of inflation in the U.S. over a full inflation cycle and current income by combining investments in inflation swaps with a portfolio of short duration credit. 
 

EXPERIENCED INVESTMENT TEAM

The strategy is managed through a collaboration among 40+ investment professionals in portfolio management, credit research, and trading.

HIGHER INCOME POTENTIAL WITH LOWER DURATION

By utilizing short duration credit, the strategy generates the highest income stream in the Morningstar category with one-third the duration of the average TIPS-based portfolio.

TRUE INFLATION PROTECTION

By using inflation swaps to hedge exposure to investor expectations of future inflation, the strategy isolates inflation risk with much less nominal interest rate exposure than the Morningstar category.  As such, the strategy is designed to do well when inflation expectation increase.

Yield

Average Yield to Maturity as of 09/30/2024

4.93%

30-Day Standardized Yield 1 as of 09/30/2024  

  Subsidized2 Un-Subsidized3
w/o sales charge 4.17% 4.16%

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

Yield to maturity (YTM) represents the expected total return on a bond (expressed as an annualized rate) based on the bond’s expected future cash flows, including coupon payments over the life of the bond and the bond’s principal value received at maturity.

Fund Basicsas of 09/30/2024

Total Net Assets
$777.53 M
Inception Date
04/29/2011
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.73%
Fund Net Expense Ratio
0.73%
Number of Holdings
626
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

Gross 0.73%

Net 0.73%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/29/2011
w/o sales charge 5.06% 7.90% 1.94% 4.64% 2.24% 1.93%
Lipper Category Avg. Inflation Protected Bond Funds 4.77% 8.84% -0.14% 2.62% 2.09% -
Bloomberg U.S. TIPS 1-5 Year Index 4.90% 7.93% 2.11% 3.49% 2.38% 1.91%
w/ sales charge 2.66% 5.48% 1.18% 4.16% 2.00% 1.76%

Fund Expense Ratio :

Gross 0.73%

Net 0.73%

Fund Expense Ratio :

Gross 0.73%

Net 0.73%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/29/2011
w/o sales charge 5.06% 7.90% 1.94% 4.64% 2.24% 1.93%
Lipper Category Avg. Inflation Protected Bond Funds 4.77% 8.84% -0.14% 2.62% 2.09% -
Bloomberg U.S. TIPS 1-5 Year Index 4.90% 7.93% 2.11% 3.49% 2.38% 1.91%
w/ sales charge 2.66% 5.48% 1.18% 4.16% 2.00% 1.76%

Fund Expense Ratio :

Gross 0.73%

Net 0.73%

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

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

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

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 09/30/2024 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 average rating based on numeric values assigned to each rating. 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

Kewjin Yuoh
Kewjin Yuoh

Partner, Portfolio Manager

30 Years of Industry Experience

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

Partner, Portfolio Manager

26 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

23 Years of Industry Experience

Leah G. Traub
Leah G. Traub, Ph.D.

Partner & Portfolio Manager

23 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

33 Years of Industry Experience

Supported By 82 Investment Professionals with 17 Years Avg. Industry Experience

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Performance

Performance

Average Yield to Maturity as of 09/30/2024

4.93%

30-Day Standardized Yield 1 as of 09/30/2024  

  Subsidized2 Un-Subsidized3
w/o sales charge 4.17% 4.16%

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

Fund Expense Ratio :

Gross 0.73%

Net 0.73%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/29/2011
w/o sales charge 5.06% 7.90% 1.94% 4.64% 2.24% 1.93%
Lipper Category Avg. Inflation Protected Bond Funds 4.77% 8.84% -0.14% 2.62% 2.09% -
Bloomberg U.S. TIPS 1-5 Year Index 4.90% 7.93% 2.11% 3.49% 2.38% 1.91%
w/ sales charge 2.66% 5.48% 1.18% 4.16% 2.00% 1.76%

Fund Expense Ratio :

Gross 0.73%

Net 0.73%

Fund Expense Ratio :

Gross 0.73%

Net 0.73%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/29/2011
w/o sales charge 5.06% 7.90% 1.94% 4.64% 2.24% 1.93%
Lipper Category Avg. Inflation Protected Bond Funds 4.77% 8.84% -0.14% 2.62% 2.09% -
Bloomberg U.S. TIPS 1-5 Year Index 4.90% 7.93% 2.11% 3.49% 2.38% 1.91%
w/ sales charge 2.66% 5.48% 1.18% 4.16% 2.00% 1.76%

Fund Expense Ratio :

Gross 0.73%

Net 0.73%

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

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

Year Fund Returns Bloomberg U.S. TIPS 1-5 Year Index
2023 4.10% 4.44%
2022 -4.85% -3.96%
2021 10.29% 5.53%
2020 5.93% 5.70%
2019 4.86% 5.08%
2018 -1.28% 0.41%
2017 1.33% 0.80%
2016 4.96% 3.13%
2015 -2.22% -0.14%
2014 -5.20% -1.13%
2013 -1.76% -
2012 9.87% -
Year Q1 Q2 Q3 Q4
2024 1.28% 1.35% 2.35% -
2023 2.70% -1.12% -0.19% 2.71%
2022 -0.49% -4.02% -2.27% 1.94%
2021 4.26% 1.62% 2.27% 1.79%
2020 -14.80% 10.55% 6.13% 5.96%
2019 2.60% 0.41% -1.37% 3.19%
2018 0.40% 0.95% 0.71% -3.28%
2017 0.73% -1.53% 1.13% 1.01%
2016 -0.90% -0.65% 2.45% 4.05%
2015 -0.17% 1.72% -4.68% 1.03%
2014 0.02% 2.20% -2.74% -4.66%
2013 0.51% -3.67% 1.32% 0.15%
2012 5.40% -0.99% 3.16% 2.05%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

Growth of $10,000 as of 09/30/2024

The chart begins on the Fund's inception date of 04/29/2011.

Based on a hypothetical Class A share investment of $10,000 on 04/29/2011 without sales charge and includes the reinvestment of all distributions.

 

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

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

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

Rating Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 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 09/30/2024

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 average rating based on numeric values assigned to each rating. 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 09/30/2024

  • The Fund maintains an allocation to CPI Swaps designed to protect investors’ purchasing power during periods of rising inflation. As inflation expectations decreased, the Fund’s inflation protection led to a negative impact on performance.
  • The portfolio’s rates positioning was the primary detractor over the period. Short-term yields moved significantly lower over the quarter in response to weaker employment data, softer inflation prints, and the anticipated response from the Fed.  Therefore, the portfolio’s modestly shorter duration led to a negative impact on relative returns.
  • The portfolio’s allocation to commercial mortgage-backed securities (CMBS) also detracted from relative performance, as fundamental headwinds continued to weigh on parts of the market, particularly in the Office segment. We have meaningfully reduced our allocation to the asset class in recent years and are comfortable with our current commercial real estate portfolio. While we find compelling value within the asset class, we remain cautious given the wide range of possible outcomes in segments of the market.  
  • An allocation to agency residential mortgage-backed securities (RMBS) modestly detracted from relative performance. Given technical pressures, we believe agency RMBS show attractive relative value in the current environment and significantly increased the portfolio’s exposure to this sector over the quarter. We have been focused on 15-year mortgages with higher coupons and shorter weighted average lives consistent with our short duration mandate.
  • Security selection within investment grade corporate bonds was the primary contributor to relative returns, particularly within the Financial sector. Within Financials, we continue to favor diversified financial institutions with strong management teams and business models less dependent on deposits. Over the quarter, we decreased the portfolio’s exposure to the sector, taking profits on positions that have performed well.
  • The portfolio’s allocation to high yield corporate bonds led to a positive impact on relative returns due to higher carry and modest spread compression.  At points throughout the quarter, including during the volatility in early August, we opportunistically added to short high yield bonds at wider spreads.
  • The portfolio’s allocation to bank loans also contributed to relative performance given the sector’s greater carry over investment grade corporates. The sector shows attractive spread pick up relative to fixed rate corporates today as buyers seek duration during interest rate declines.

Portfolio Details as of 09/30/2024

Total Net Assets
$777.53 M
Average Effective Duration
3.02 Years
Average Life
2.1 Years
Average Maturity
2.1 Years
Number of Issues
626
Average Yield to Maturity
4.93%

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

Yield to maturity (YTM) represents the expected total return on a bond (expressed as an annualized rate) based on the bond’s expected future cash flows, including coupon payments over the life of the bond and the bond’s principal value received at maturity.

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
15-YR UMBS-TBA PROD NOV 5.000% 05/01/2039 2.2%
United States Treasury Note/Bond 4.625% 06/30/2026 2.0%
Exeter Automobile Receivables Trust 2020-2 7.190% 09/15/2027 1.9%
15-YR UMBS-TBA PROD NOV 5.500% 03/01/2039 1.4%
Macquarie Group Ltd 1.201% 10/14/2025 0.9%
OneMain Direct Auto Receivables Trust 2019-1 3.630% 09/14/2027 0.8%
Devon Energy Corp 5.250% 10/15/2027 0.8%
Lendmark Funding Trust 2022-1 5.120% 07/20/2032 0.7%
ABN AMRO Bank NV 4.750% 07/28/2025 0.7%
SBNA Auto Lease Trust 2024-A 5.390% 11/20/2026 0.7%
% of Total Assets 12.1%
Holding Coupon Maturity Assets
Exeter Automobile Receivables Trust 2020-27.190% 09/15/20271.9%
System Energy Resources Inc6.000% 04/15/20281.1%
United States Treasury Inflation Indexed Bonds0.375% 07/15/20251.0%
Macquarie Group Ltd1.201% 10/14/20250.9%
OneMain Direct Auto Receivables Trust 2019-13.630% 09/14/20270.8%
Aircastle Ltd5.250% 08/11/20250.8%
Devon Energy Corp5.250% 10/15/20270.7%
Lendmark Funding Trust 2022-15.120% 07/20/20320.7%
ABN AMRO Bank NV4.750% 07/28/20250.7%
SBNA Auto Lease Trust 2024-A5.390% 11/20/20260.7%
OneMain Financial Issuance Trust 2022-35.940% 05/15/20340.7%
WEA Finance LLC / Westfield UK & Europe Finance PLC3.750% 09/17/20240.7%
Danske Bank A/S3.244% 12/20/20250.7%
Wells Fargo & Co4.808% 07/25/20280.7%
Lloyds Banking Group PLC4.582% 12/10/20250.7%
Imperial Brands Finance PLC6.125% 07/27/20270.7%
Ally Financial Inc5.750% 11/20/20250.6%
KKR Clo 24 Ltd6.624% 04/20/20320.6%
Carvana Auto Receivables Trust 2022-P13.350% 02/10/20270.6%
Navient Private Education Refi Loan Trust 2022-A2.230% 07/15/20700.6%
Apidos CLO XXXI6.663% 04/15/20310.6%
Anglo American Capital PLC3.625% 09/11/20240.6%
VICI Properties LP / VICI Note Co Inc3.500% 02/15/20250.6%
Viterra Finance BV4.900% 04/21/20270.6%
Huntington National Bank/The5.699% 11/18/20250.6%
Manufacturers & Traders Trust Co4.650% 01/27/20260.5%
Lendmark Funding Trust 2021-12.470% 11/20/20310.5%
SCF Equipment Leasing 2022-1 LLC2.920% 07/20/20290.5%
Devon Energy Corp5.875% 06/15/20280.5%
Goldman Sachs Group Inc/The1.948% 10/21/20270.5%
Continental Resources Inc/OK2.268% 11/15/20260.5%
Viterra Finance BV2.000% 04/21/20260.5%
BankUnited Inc4.875% 11/17/20250.5%
Pacific Gas and Electric Co3.150% 01/01/20260.5%
American Tower Corp3.600% 01/15/20280.5%
Bank of Ireland Group PLC2.029% 09/30/20270.5%
Goldman Sachs Group Inc/The4.223% 05/01/20290.5%
15-YR UMBS-TBA PROD OCT5.500% 02/01/20390.5%
Bank of America Corp1.197% 10/24/20260.5%
Avolon Holdings Funding Ltd6.375% 05/04/20280.5%
Romark CLO Ltd6.575% 10/23/20300.5%
Barclays PLC5.200% 05/12/20260.5%
Bayer US Finance II LLC4.250% 12/15/20250.5%
Triton Container International Ltd2.050% 04/15/20260.5%
F&G Global Funding2.300% 04/11/20270.4%
Petroleos Mexicanos6.490% 01/23/20270.4%
Brooklyn Union Gas Co/The4.632% 08/05/20270.4%
Navient Corp5.875% 10/25/20240.4%
Capital One Multi-Asset Execution Trust3.490% 05/15/20270.4%
Santander UK Group Holdings PLC4.750% 09/15/20250.4%
EPR Properties4.750% 12/15/20260.4%
Cedar Funding VII Clo Ltd6.176% 01/20/20310.4%
Cedar Funding XI Clo Ltd6.374% 05/29/20320.4%
CPI Swap0.010% 08/22/20260.4%
Occidental Petroleum Corp0.000% 12/29/20250.4%
Venture 33 CLO Ltd6.623% 07/15/20310.4%
ING Groep NV6.083% 09/11/20270.4%
GreatAmerica Leasing Receivables Funding LLC Series 2024-15.080% 12/16/20300.4%
Centene Corp4.250% 12/15/20270.4%
Continental Resources Inc/OK4.375% 01/15/20280.4%
EQT Corp3.900% 10/01/20270.4%
CIFC Funding 2013-II Ltd6.541% 10/18/20300.4%
Targa Resources Partners LP / Targa Resources Partners Finance Corp6.500% 07/15/20270.4%
Suncor Energy Inc7.875% 06/15/20260.4%
Regatta XIV Funding Ltd6.436% 10/25/20310.4%
Viper Energy Inc5.375% 11/01/20270.4%
Dryden 40 Senior Loan Fund6.268% 08/15/20310.4%
BPCE SA5.975% 01/18/20270.4%
RR 8 Ltd6.651% 07/15/20370.4%
GS Mortgage Securities Corp Trust 2021-ROSS6.751% 05/15/20260.4%
AES Corp/The3.300% 07/15/20250.3%
BX Commercial Mortgage Trust 2024-XL56.729% 03/15/20410.3%
Cedar Funding V CLO Ltd6.647% 07/17/20310.3%
Chesapeake Funding II LLC5.520% 05/15/20360.3%
Fells Point Funding Trust3.046% 01/31/20270.3%
Centene Corp2.450% 07/15/20280.3%
UBS Group AG2.593% 09/11/20250.3%
Puget Energy Inc3.650% 05/15/20250.3%
US Bancorp4.548% 07/22/20280.3%
Bank of America Corp4.948% 07/22/20280.3%
Equitable Financial Life Global Funding5.450% 03/03/20280.3%
CPI Swap0.010% 08/04/20260.3%
VICI Properties LP / VICI Note Co Inc3.750% 02/15/20270.3%
Trans-Allegheny Interstate Line Co3.850% 06/01/20250.3%
Apache Corp4.375% 10/15/20280.3%
American Express Credit Account Master Trust5.230% 04/15/20290.3%
BXHPP Trust 2021-FILM6.101% 08/15/20360.3%
Crestline Denali CLO XVII Ltd6.431% 10/15/20310.3%
UniCredit SpA2.569% 09/22/20260.3%
OneMain Direct Auto Receivables Trust 2021-10.870% 07/14/20280.3%
KKR CLO 15 Ltd6.216% 01/18/20320.3%
Madison Park Funding LVII Ltd6.337% 07/27/20340.3%
Hyundai Auto Lease Securitization Trust 2024-A5.020% 03/15/20270.3%
Octagon Investment Partners 32 Ltd6.513% 07/15/20290.3%
NatWest Group PLC5.808% 09/13/20290.3%
Benchmark 2024-V6 Mortgage Trust5.926% 03/15/20290.3%
KKR CLO 40 Ltd6.582% 10/20/20340.3%
Niagara Mohawk Power Corp3.508% 10/01/20240.3%
Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp6.000% 08/01/20260.3%
Synchrony Card Funding LLC5.540% 07/15/20290.3%
Goldman Sachs Group Inc/The2.640% 02/24/20280.3%
Endeavor Energy Resources LP / EER Finance Inc5.750% 01/30/20280.3%
Regal Rexnord Corp6.050% 04/15/20280.3%
Australia & New Zealand Banking Group Ltd4.400% 05/19/20260.3%
Nelnet Student Loan Trust 2021-A1.360% 04/20/20620.3%
BA Credit Card Trust4.930% 05/15/20290.3%
Gen Digital Inc6.847% 09/10/20270.3%
Aviation Capital Group LLC5.500% 12/15/20240.3%
Affirm Asset Securitization Trust 2023-B6.820% 09/15/20280.3%
Chord Energy Corp6.375% 06/01/20260.3%
MF1 2024-FL14 LLC7.079% 03/19/20390.3%
Federation des Caisses Desjardins du Quebec5.700% 03/14/20280.3%
Avolon Holdings Funding Ltd4.250% 04/15/20260.3%
Hertz Vehicle Financing LLC1.210% 12/26/20250.3%
Mercedes-Benz Auto Lease Trust 2024-A5.320% 02/15/20300.3%
CPI Swap0.010% 04/18/20300.3%
Navient Private Education Refi Loan Trust 2021-c1.060% 10/15/20690.3%
OneMain Financial Issuance Trust 2019-23.140% 10/14/20360.3%
Aker BP ASA2.000% 07/15/20260.3%
Freddie Mac STACR REMIC Trust 2024-DNA26.585% 05/25/20440.3%
CPI Swap0.010% 01/11/20250.3%
Newark BSL CLO 2 Ltd6.516% 07/25/20300.3%
Hyundai Capital America6.500% 01/16/20290.3%
BPCE SA4.500% 03/15/20250.3%
BAT International Finance PLC5.931% 02/02/20290.3%
Santander Holdings USA Inc2.490% 01/06/20280.3%
MidOcean Credit CLO VI6.512% 04/20/20330.3%
Freddie Mac STACR REMIC Trust 2021-DNA56.999% 01/25/20340.3%
Greystone CRE Notes 2021-FL3 Ltd6.471% 07/15/20390.3%
Ovintiv Inc5.650% 05/15/20280.3%
Credit Agricole SA4.375% 03/17/20250.3%
Energy Transfer LP6.000% 02/01/20290.3%
Merchants Fleet Funding LLC5.820% 04/20/20370.3%
CPI Swap0.010% 01/06/20260.3%
RR 12 Ltd6.551% 01/15/20360.3%
CPI Swap0.010% 06/28/20300.3%
Catalent Pharma Solutions Inc8.312% 02/22/20280.3%
Ford Credit Auto Lease Trust 2024-B4.990% 12/15/20270.3%
AMMC CLO 25 Ltd6.651% 04/15/20350.3%
Everi Holdings Inc5.000% 07/15/20290.3%
HAT Holdings I LLC / HAT Holdings II LLC3.375% 06/15/20260.3%
Broadcom Inc6.372% 08/14/20260.3%
Barclays PLC6.496% 09/13/20270.3%
Eskom Holdings SOC Ltd7.125% 02/11/20250.3%
Illumina Inc5.750% 12/13/20270.3%
Societe Generale SA2.226% 01/21/20260.2%
Tengizchevroil Finance Co International Ltd2.625% 08/15/20250.2%
Aqua Finance Trust 2021-A1.540% 07/17/20460.2%
Prosus NV3.257% 01/19/20270.2%
International Flavors & Fragrances Inc1.230% 10/01/20250.2%
Elanco Animal Health Inc7.192% 08/01/20270.2%
Bayer US Finance LLC6.250% 01/21/20290.2%
Solventum Corp5.400% 03/01/20290.2%
Uber Technologies Inc4.500% 08/15/20290.2%
Citizens Auto Receivables Trust 2023-25.830% 02/15/20280.2%
Bank of Ireland Group PLC6.253% 09/16/20260.2%
EnLink Midstream LLC5.625% 01/15/20280.2%
Citigroup Inc5.174% 02/13/20300.2%
Sprint Capital Corp6.875% 11/15/20280.2%
US Bancorp6.787% 10/26/20270.2%
Westlake Flooring Master Trust5.430% 02/15/20280.2%
Freddie Mac STACR REMIC Trust 2024-HQA16.599% 03/25/20440.2%
Kite Realty Group Trust4.000% 03/15/20250.2%
AEGON Funding Co LLC5.500% 04/16/20270.2%
DTE Energy Co4.875% 06/01/20280.2%
Matador Resources Co6.875% 04/15/20280.2%
Orbia Advance Corp SAB de CV1.875% 05/11/20260.2%
CPI Swap0.010% 11/25/20240.2%
American Tower Corp5.500% 03/15/20280.2%
Hyundai Capital America5.650% 06/26/20260.2%
JP Morgan Chase Commercial Mortgage Securities Trust 2014-DSTY3.429% 06/10/20270.2%
CPI Swap0.010% 12/09/20240.2%
Octagon Investment Partners XXI Ltd6.378% 02/14/20310.2%
KKR CLO 15 Ltd6.666% 01/18/20320.2%
CPI Swap0.010% 12/05/20240.2%
Hyundai Capital America6.100% 09/21/20280.2%
KKR CLO 23 Ltd6.567% 10/20/20310.2%
CPI Swap0.010% 06/01/20300.2%
Triumph Group Inc9.000% 03/15/20280.2%
CPI Swap0.010% 06/30/20300.2%
PVH Corp4.625% 07/10/20250.2%
Tapestry Inc7.050% 11/27/20250.2%
LFT CRE 2021-FL1 Ltd7.201% 06/15/20390.2%
Las Vegas Sands Corp3.500% 08/18/20260.2%
Federation des Caisses Desjardins du Quebec5.250% 04/26/20290.2%
F&G Annuities & Life Inc7.400% 01/13/20280.2%
Regal Rexnord Corp6.050% 02/15/20260.2%
Affirm Asset Securitization Trust 2024-A5.610% 02/15/20290.2%
Swedbank AB6.136% 09/12/20260.2%
Univision Communications Inc8.611% 03/16/20260.2%
Ford Motor Credit Co LLC5.800% 03/08/20290.2%
CPI Swap0.010% 04/11/20260.2%
Vornado Realty LP3.500% 01/15/20250.2%
Crown Castle Inc5.000% 01/11/20280.2%
HF Sinclair Corp5.000% 02/01/20280.2%
BNP Paribas SA5.497% 05/20/20300.2%
BX Trust 2024-CNYN6.779% 04/15/20410.2%
BX Commercial Mortgage Trust 2024-XL46.779% 02/15/20390.2%
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC4.625% 01/15/20270.2%
M&T Bank Auto Receivables Trust 2024-15.220% 02/17/20320.2%
Corpay Technologies Operating Co LLC7.097% 04/28/20280.2%
AIB Group PLC6.608% 09/13/20290.2%
Sitio Royalties Operating Partnership LP / Sitio Finance Corp7.875% 11/01/20280.2%
LPL Holdings Inc4.000% 03/15/20290.2%
GA Global Funding Trust5.500% 01/08/20290.2%
Boeing Co/The6.298% 05/01/20290.2%
World Financial Network Credit Card Master Note Trust 2024-B4.620% 05/15/20310.2%
Greenko Dutch BV3.850% 03/29/20260.2%
Mariner Finance Issuance Trust 2021-B2.100% 11/20/20360.2%
BSPRT 2021-FL7 Issuer Ltd6.771% 12/15/20380.2%
F&G Global Funding0.900% 09/20/20240.2%
CPI Swap0.010% 12/02/20280.2%
Sizzling Platter LLC / Sizzling Platter Finance Corp8.500% 11/28/20250.2%
Range Resources Corp8.250% 01/15/20290.2%
HGI CRE CLO 2021-FL2 Ltd6.456% 09/17/20360.2%
CPI Swap0.010% 11/15/20240.2%
Brighthouse Financial Global Funding5.550% 04/09/20270.2%
Aviation Capital Group LLC6.250% 04/15/20280.2%
Warnermedia Holdings Inc3.755% 03/15/20270.2%
Entegris Inc4.750% 04/15/20290.2%
Southwest Gas Corp5.800% 12/01/20270.2%
Freddie Mac STACR REMIC Trust 2023-HQA17.349% 05/25/20430.2%
World Financial Network Credit Card Master Trust5.470% 02/15/20310.2%
Celanese US Holdings LLC6.165% 07/15/20270.2%
Octane Receivables Trust 2022-14.180% 03/20/20280.2%
BNP Paribas SA2.591% 01/20/20280.2%
GLP Capital LP / GLP Financing II Inc5.250% 06/01/20250.2%
Discover Bank4.250% 03/13/20260.2%
Aon Corp8.205% 01/01/20270.2%
Bain Capital Credit CLO 2019-26.416% 10/17/20320.2%
BANK5 2023-5YR26.656% 07/15/20560.2%
Glencore Funding LLC5.338% 04/04/20270.2%
CNO Global Funding5.875% 06/04/20270.2%
Glencore Funding LLC5.371% 04/04/20290.2%
Connecticut Avenue Securities Trust 2024-R036.497% 03/25/20440.2%
Bank of Ireland Group PLC5.601% 03/20/20300.2%
Dryden Senior Loan Fund6.543% 04/15/20280.2%
Boeing Co/The2.196% 02/04/20260.2%
General Motors Financial Co Inc5.400% 04/06/20260.2%
Bacardi Ltd / Bacardi-Martini BV5.250% 01/15/20290.2%
CNO Global Funding1.750% 10/07/20260.2%
Veralto Corp5.350% 09/18/20280.2%
HSBC Holdings PLC5.597% 05/17/20280.2%
Dell Equipment Finance Trust 2024-15.580% 03/22/20300.2%
UBS Group AG1.494% 08/10/20270.2%
Broadcom Inc5.050% 07/12/20270.2%
GXO Logistics Inc6.250% 05/06/20290.2%
Carlyle Global Market Strategies CLO 2015-5 Ltd6.382% 01/20/20320.1%
CPI Swap0.010% 12/02/20240.1%
Jackson National Life Global Funding5.550% 07/02/20270.1%
Barclays PLC4.836% 05/09/20280.1%
KREF 2021-FL2 Ltd6.521% 02/15/20390.1%
CPI Swap0.010% 04/26/20250.1%
CPI Swap0.010% 02/05/20250.1%
DTE Energy Co5.100% 03/01/20290.1%
Danske Bank A/S5.427% 03/01/20280.1%
Intesa Sanpaolo SpA5.710% 01/15/20260.1%
Chase Auto Owner Trust 2024-35.220% 07/25/20290.1%
FirstEnergy Pennsylvania Electric Co5.150% 03/30/20260.1%
Chase Auto Owner Trust 2024-44.940% 07/25/20290.1%
Solventum Corp5.450% 02/25/20270.1%
KODIT Global 2024-1 Co Ltd5.357% 05/29/20270.1%
Glencore Funding LLC4.000% 03/27/20270.1%
Octane Receivables Trust 2022-25.110% 02/22/20280.1%
CPI Swap0.010% 06/22/20250.1%
Athene Global Funding5.516% 03/25/20270.1%
Black Hills Corp5.950% 03/15/20280.1%
CPI Swap0.010% 12/14/20240.1%
Ameren Corp5.000% 01/15/20290.1%
LFT CRE 2021-FL1 Ltd6.621% 06/15/20390.1%
First National Master Note Trust5.130% 04/15/20290.1%
Banco Bilbao Vizcaya Argentaria SA5.381% 03/13/20290.1%
Wells Fargo Commercial Mortgage Trust 2024-5C15.928% 07/15/20570.1%
Barclays PLC7.385% 11/02/20280.1%
AerCap Ireland Capital DAC / AerCap Global Aviation Trust6.450% 04/15/20270.1%
Glencore Funding LLC6.125% 10/06/20280.1%
GA Global Funding Trust0.800% 09/13/20240.1%
Volkswagen Group of America Finance LLC5.700% 09/12/20260.1%
Wells Fargo & Co6.303% 10/23/20290.1%
CPI Swap0.010% 10/30/20300.1%
Honda Auto Receivables 2023-4 Owner Trust5.670% 06/21/20280.1%
GM Financial Consumer Automobile Receivables Trust 2024-14.850% 12/18/20280.1%
F&G Global Funding1.750% 06/30/20260.1%
ABN AMRO Bank NV4.800% 04/18/20260.1%
EnLink Midstream Partners LP4.150% 06/01/20250.1%
ACREC 2021-FL1 Ltd6.603% 10/16/20360.1%
Brighthouse Financial Global Funding5.650% 06/10/20290.1%
BARCLAYS CAPITAL0.010% 09/03/20240.1%
Atlassian Corp5.250% 05/15/20290.1%
Connecticut Avenue Securities Trust 2024-R056.349% 07/25/20440.1%
Kraton Corp5.000% 07/15/20270.1%
CPI Swap0.010% 05/31/20280.1%
PFS Financing Corp5.340% 04/15/20290.1%
Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd6.500% 06/20/20270.1%
AG TTMT Escrow Issuer LLC8.625% 09/30/20270.1%
CPI Swap0.010% 06/01/20280.1%
FactSet Research Systems Inc2.900% 03/01/20270.1%
Towd Point Mortgage Trust 2019-HY17.392% 10/25/20480.1%
Entegris Inc4.375% 04/15/20280.1%
Marathon Oil Corp5.300% 04/01/20290.1%
Civitas Resources Inc8.375% 07/01/20280.1%
CPI Swap0.010% 06/06/20280.1%
6297782 LLC5.026% 10/01/20290.1%
American Express Credit Account Master Trust5.240% 04/15/20310.1%
Clarios Global LP / Clarios US Finance Co8.500% 05/15/20270.1%
CPI Swap0.010% 08/27/20280.1%
CPI Swap0.010% 08/14/20280.1%
CenterPoint Energy Inc5.400% 06/01/20290.1%
Santander Drive Auto Receivables Trust 2023-35.770% 11/15/20300.1%
Wells Fargo & Co5.707% 04/22/20280.1%
NatWest Group PLC4.892% 05/18/20290.1%
Boeing Co/The6.259% 05/01/20270.1%
CPI Swap0.010% 07/06/20280.1%
Crescent Energy Finance LLC9.250% 02/15/20280.1%
Enel Finance International NV5.125% 06/26/20290.1%
CPI Swap0.010% 03/02/20270.1%
CPI Swap0.010% 10/01/20280.1%
Crowdstrike Holdings Inc3.000% 02/15/20290.1%
Radian Group Inc6.200% 05/15/20290.1%
BMO 2023-5C2 Mortgage Trust7.296% 11/15/20560.1%
Westlake Automobile Receivables Trust 2024-25.910% 04/15/20300.1%
NatWest Markets PLC5.416% 05/17/20270.1%
F&G Global Funding5.875% 06/10/20270.1%
CPI Swap0.010% 08/09/20280.1%
Jackson National Life Global Funding5.600% 04/10/20260.1%
Occidental Petroleum Corp0.000% 12/27/20240.1%
CPI Swap0.010% 10/09/20280.1%
Blue Owl Credit Income Corp6.600% 09/15/20290.1%
CPI Swap0.010% 05/11/20280.1%
Solvay Finance America LLC5.650% 06/04/20290.1%
General Motors Financial Co Inc5.400% 05/08/20270.1%
CPI Swap0.010% 08/03/20280.1%
CITGO Petroleum Corp7.000% 06/15/20250.1%
Ford Motor Credit Co LLC5.850% 05/17/20270.1%
CPI Swap0.010% 04/26/20300.1%
CPI Swap0.010% 02/01/20320.1%
Octane Receivables Trust 2024-25.800% 07/20/20320.1%
Hyundai Capital America2.000% 06/15/20280.1%
Broadcom Inc5.050% 07/12/20290.1%
US Bancorp5.100% 07/23/20300.1%
LSTAR Commercial Mortgage Trust 2017-54.500% 03/10/20500.1%
Navient Corp6.750% 06/25/20250.1%
PNC Financial Services Group Inc/The6.615% 10/20/20270.1%
SCF Equipment Leasing 2021-1 LLC1.370% 08/20/20290.1%
Anglo American Capital PLC4.500% 03/15/20280.1%
JP Morgan Chase Commercial Mortgage Securities Trust 2018-WPT0.555% 07/05/20330.1%
HEICO Corp5.250% 08/01/20280.1%
UBS Group AG5.428% 02/08/20300.1%
Huntington Bancshares Inc/OH4.443% 08/04/20280.1%
Comision Federal de Electricidad4.688% 05/15/20290.1%
Lloyds Banking Group PLC5.462% 01/05/20280.1%
Connecticut Avenue Securities Trust 2024-R046.349% 05/25/20440.1%
CNO Financial Group Inc5.250% 05/30/20250.1%
6297782 LLC4.911% 09/01/20270.1%
Santander Drive Auto Receivables Trust 2024-35.550% 09/17/20290.1%
Concentrix Corp6.650% 08/02/20260.1%
MGIC Investment Corp5.250% 08/15/20280.1%
Petroleos Mexicanos6.875% 08/04/20260.1%
MF1 2021-FL7 Ltd6.533% 10/16/20360.1%
Algonquin Power & Utilities Corp5.365% 06/15/20260.1%
BPCE SA5.716% 01/18/20300.1%
General Motors Financial Co Inc5.550% 07/15/20290.1%
CEC Entertainment LLC6.750% 05/01/20260.1%
Boeing Co/The3.200% 03/01/20290.1%
BlueMountain Fuji US Clo I Ltd6.524% 07/20/20290.1%
Huntington Bank Auto Credit-Linked Notes Series 2024-16.153% 05/20/20320.1%
Whistler Pipeline LLC5.400% 09/30/20290.1%
Liberty Utilities Co5.577% 01/31/20290.1%
Venture Global LNG Inc8.125% 06/01/20280.1%
RGA Global Funding5.448% 05/24/20290.1%
HONO 2021-LULU Mortgage Trust6.601% 10/15/20360.1%
Pacific Gas and Electric Co5.550% 05/15/20290.1%
Element Fleet Management Corp5.643% 03/13/20270.1%
KIND Commercial Mortgage Trust 2024-17.227% 08/15/20410.1%
Citizens Financial Group Inc5.841% 01/23/20300.1%
Carlyle Global Market Strategies CLO 2014-3-R Ltd6.575% 07/27/20310.1%
Freddie Mac STACR REMIC Trust 2022-DNA47.549% 05/25/20420.1%
Rakuten Group Inc11.250% 02/15/20270.1%
CONE Trust 2024-DFW16.979% 08/15/20410.1%
Altice France SA8.125% 02/01/20270.1%
Avolon Holdings Funding Ltd5.750% 11/15/20290.1%
Standard Chartered PLC5.688% 05/14/20280.1%
CPI Swap0.010% 02/21/20310.1%
Buckeye Partners LP7.247% 11/01/20260.1%
NatWest Group PLC4.964% 08/15/20300.1%
Teva Pharmaceutical Finance Netherlands III BV3.150% 10/01/20260.1%
Bayer US Finance LLC6.125% 11/21/20260.1%
F&G Annuities & Life Inc6.500% 06/04/20290.1%
CPI Swap0.010% 12/29/20270.1%
Kroger Co/The4.650% 09/15/20290.1%
Societe Generale SA1.488% 12/14/20260.1%
CPI Swap0.010% 10/25/20320.1%
Hyundai Capital America5.300% 01/08/20290.1%
Exeter Automobile Receivables Trust 2024-35.980% 09/16/20300.1%
Kroger Co/The4.600% 08/15/20270.1%
MEG Energy Corp7.125% 02/01/20270.1%
General Motors Financial Co Inc5.350% 07/15/20270.1%
Colombia Government International Bond3.875% 04/25/20270.1%
Danske Bank A/S1.621% 09/11/20260.1%
Truist Financial Corp5.435% 01/24/20300.1%
CaixaBank SA5.673% 03/15/20300.1%
Daimler Truck Finance North America LLC5.125% 09/25/20270.1%
Nexstar Media Inc5.625% 07/15/20270.1%
Icon Investments Six DAC5.849% 05/08/20290.1%
Enbridge Inc5.300% 04/05/20290.1%
Quanta Services Inc4.750% 08/09/20270.1%
Coterra Energy Inc4.375% 03/15/20290.1%
Met Tower Global Funding5.250% 04/12/20290.1%
Qorvo Inc1.750% 12/15/20240.1%
CPI Swap0.010% 10/15/20240.1%
Icon Investments Six DAC5.809% 05/08/20270.1%
Hyatt Hotels Corp5.250% 06/30/20290.1%
Aon North America Inc5.150% 03/01/20290.1%
Coca-Cola Consolidated Inc5.250% 06/01/20290.1%
First Quantum Minerals Ltd6.875% 10/15/20270.1%
Kinder Morgan Inc5.000% 02/01/20290.1%
NiSource Inc5.200% 07/01/20290.1%
Morgan Stanley5.042% 07/19/20300.1%
Danske Bank A/S5.705% 03/01/20300.1%
CPI Swap0.010% 04/05/20290.1%
CPI Swap0.010% 03/28/20290.1%
Kroger Co/The4.700% 08/15/20260.1%
Western Midstream Operating LP6.350% 01/15/20290.1%
Engie SA5.250% 04/10/20290.1%
CPI Swap0.010% 03/10/20320.1%
Nuveen LLC5.550% 01/15/20300.1%
BAE Systems PLC5.125% 03/26/20290.1%
State Street Corp4.530% 02/20/20290.1%
Galaxy XIX CLO Ltd6.495% 07/24/20300.1%
Aviation Capital Group LLC5.375% 07/15/20290.1%
US Bancorp5.384% 01/23/20300.1%
JP Morgan Chase Commercial Mortgage Securities Trust 2018-PTC6.834% 04/15/20310.1%
HMH Trust 2017-NSS3.062% 07/05/20310.1%
AEP Texas Inc5.450% 05/15/20290.1%
CPI Swap0.010% 04/17/20260.1%
BNP Paribas SA2.219% 06/09/20260.1%
BNP Paribas SA4.375% 05/12/20260.1%
CPI Swap0.010% 02/12/20330.1%
CPI Swap0.010% 05/21/20280.1%
Rolls-Royce PLC5.750% 10/15/20270.1%
Health Care Service Corp A Mutual Legal Reserve Co5.200% 06/15/20290.1%
Calpine Corp5.250% 06/01/20260.1%
Freddie Mac STACR REMIC Trust 2022-HQA37.649% 08/25/20420.1%
Warnermedia Holdings Inc4.054% 03/15/20290.1%
GATX Corp5.400% 03/15/20270.1%
M&T Equipment 2024-LEAF1 Notes4.760% 08/18/20310.1%
Bombardier Inc7.875% 04/15/20270.0%
Macquarie Group Ltd1.340% 01/12/20270.0%
Volkswagen Group of America Finance LLC4.900% 08/14/20260.0%
Penske Truck Leasing Co Lp / PTL Finance Corp3.400% 11/15/20260.0%
Diamondback Energy Inc5.150% 01/30/20300.0%
OGE Energy Corp5.450% 05/15/20290.0%
NMI Holdings Inc6.000% 08/15/20290.0%
Interest Rate Swap5.389% 09/28/20250.0%
Wind River 2013-1 CLO Ltd6.524% 07/20/20300.0%
Las Vegas Sands Corp5.900% 06/01/20270.0%
Bread Financial Holdings Inc7.000% 01/15/20260.0%
Navient Private Education Refi Loan Trust 2020-F1.220% 07/15/20690.0%
LPL Holdings Inc5.700% 05/20/20270.0%
TCI-Flatiron Clo 2018-1 Ltd6.585% 01/29/20320.0%
Synchrony Financial5.935% 08/02/20300.0%
SCF Equipment Leasing 2024-1 LLC5.520% 01/20/20320.0%
BlueMountain CLO 2013-2 Ltd6.724% 10/22/20300.0%
Aviation Capital Group LLC1.950% 01/30/20260.0%
Anglo American Capital PLC2.250% 03/17/20280.0%
LG Electronics Inc5.625% 04/24/20270.0%
Fortress Transportation and Infrastructure Investors LLC5.500% 05/01/20280.0%
Essential Utilities Inc4.800% 08/15/20270.0%
Foundry JV Holdco LLC5.900% 01/25/20300.0%
Westlake Automobile Receivables Trust 2021-20.890% 07/15/20260.0%
Genesis Energy LP / Genesis Energy Finance Corp8.000% 01/15/20270.0%
Tyson Foods Inc5.400% 03/15/20290.0%
One New York Plaza Trust 2020-1NYP6.401% 01/15/20360.0%
Discovery Communications LLC3.950% 03/20/20280.0%
JP Morgan Chase Commercial Mortgage Securities Trust 2018-PTC7.534% 04/15/20310.0%
CPI Swap0.010% 10/04/20250.0%
Mauser Packaging Solutions Holding Co7.875% 04/15/20270.0%
Genpact Luxembourg SARL/Genpact USA Inc6.000% 06/04/20290.0%
Harley-Davidson Financial Services Inc5.950% 06/11/20290.0%
Rolls-Royce PLC3.625% 10/14/20250.0%
Panama Government International Bond8.875% 09/30/20270.0%
GE HealthCare Technologies Inc4.800% 08/14/20290.0%
AGCO Corp5.450% 03/21/20270.0%
Boeing Co/The2.250% 06/15/20260.0%
IDEX Corp4.950% 09/01/20290.0%
Anglo American Capital PLC3.875% 03/16/20290.0%
JP Morgan Chase Commercial Mortgage Securities Trust 2018-PTC7.934% 04/15/20310.0%
HMH Trust 2017-NSS3.787% 07/05/20310.0%
Take-Two Interactive Software Inc5.400% 06/12/20290.0%
Fannie Mae Pool7.682% 12/01/20450.0%
LSTAR Commercial Mortgage Trust 2016-40.807% 03/10/20490.0%
HAT Holdings I LLC / HAT Holdings II LLC8.000% 06/15/20270.0%
DBJPM 2016-C3 Mortgage Trust1.546% 08/10/20490.0%
CDW LLC / CDW Finance Corp5.100% 03/01/20300.0%
Affirm Asset Securitization Trust 2022-X11.750% 02/15/20270.0%
Freddie Mac STACR REMIC Trust 2022-HQA17.449% 03/25/20420.0%
Fannie Mae Pool6.757% 03/01/20420.0%
JPMCC Commercial Mortgage Securities Trust 2017-JP71.093% 09/15/20500.0%
Wells Fargo Commercial Mortgage Trust 2016-LC241.121% 10/15/20490.0%
HMH Trust 2017-NSS4.723% 07/05/20310.0%
GS Mortgage Securities Corp Trust 2021-ROSS11.501% 05/15/20260.0%
Hyundai Capital America5.500% 03/30/20260.0%
HMH Trust 2017-NSS3.343% 07/05/20310.0%
DBWF Mortgage Trust2.998% 06/10/20340.0%
Carvana Auto Receivables Trust 2021-N10.700% 01/10/20280.0%
Pagaya AI Debt Trust 2022-12.030% 10/15/20290.0%
CSMC 2014-USA OA LLC0.686% 09/15/20370.0%
CSMC Trust 2016-NXSR0.320% 12/15/20490.0%
Government National Mortgage Association3.000% 01/16/20480.0%
Freddie Mac Non Gold Pool5.890% 11/01/20430.0%
EQM Midstream Partners LP7.500% 06/01/20270.0%
BBCMS Trust 2015-VFM2.466% 03/10/20360.0%
Octagon Investment Partners XIV Ltd6.513% 07/15/20290.0%
New Residential Mortgage Loan Trust 2020-NQM12.464% 01/26/20600.0%
Freddie Mac Non Gold Pool6.101% 02/01/20380.0%
Interest Rate Swap5.395% 03/07/20250.0%
Credit Index Swap1.000% 12/20/20280.0%
Morgan Stanley Bank of America Merrill Lynch Trust 2016-C311.403% 11/15/20490.0%
Morgan Stanley Capital I Trust 2016-UB111.570% 08/15/20490.0%
Delta Air Lines Inc / SkyMiles IP Ltd4.750% 10/20/20280.0%
J.P. Morgan Chase Commercial Mortgage Securities Trust 2018-AON0.639% 07/05/20310.0%
DBWF 2016-85T Mortgage Trust0.116% 12/10/20360.0%
Angel Oak Mortgage Trust 2020-12.466% 12/25/20590.0%
MSCG Trust 2015-ALDR2.612% 06/07/20350.0%
Verus Securitization Trust 2020-13.417% 01/25/20600.0%
CSAIL 2016-C7 Commercial Mortgage Trust1.071% 11/15/20490.0%
Csail 2015-C2 Commercial Mortgage Trust0.103% 06/15/20570.0%
Fannie Mae Pool7.166% 10/01/20350.0%
Freddie Mac Non Gold Pool6.208% 02/01/20370.0%
Freddie Mac Multifamily Structured Pass Through Certificates0.275% 11/25/20260.0%
Freddie Mac Non Gold Pool6.787% 09/01/20360.0%
Fannie Mae Pool6.491% 06/01/20380.0%
CFCRE Commercial Mortgage Trust 2016-C61.210% 11/10/20490.0%
Fannie Mae Pool6.320% 12/01/20400.0%
CFCRE Commercial Mortgage Trust 2016-C70.781% 12/10/20540.0%
Fannie Mae Pool7.581% 12/01/20450.0%
Freddie Mac Non Gold Pool6.401% 12/01/20360.0%
Wells Fargo Commercial Mortgage Trust 2016-BNK11.849% 08/15/20490.0%
CPI Swap0.010% 11/30/20310.0%
Fannie Mae Pool6.830% 09/01/20380.0%
JP Morgan Chase Commercial Mortgage Securities Trust 2016-JP40.706% 12/15/20490.0%
Fannie Mae Pool6.181% 03/01/20390.0%
Fannie Mae Pool6.634% 01/01/20380.0%
Residential Mortgage Loan Trust 2020-12.376% 01/26/20600.0%
Fannie Mae Pool7.516% 10/01/20450.0%
BWAY 2013-1515 Mortgage Trust0.534% 03/10/20330.0%
Wells Fargo Commercial Mortgage Trust 2015-C290.096% 06/15/20480.0%
Fannie Mae Pool6.257% 04/01/20400.0%
Fannie Mae Pool6.298% 12/01/20400.0%
Starwood Mortgage Residential Trust 2020-12.275% 02/25/20500.0%
Fannie Mae Pool6.849% 12/01/20380.0%
Freddie Mac Non Gold Pool6.291% 04/01/20370.0%
Government National Mortgage Association2.900% 10/16/20550.0%
CFCRE Commercial Mortgage Trust 2016-C41.755% 05/10/20580.0%
J.P. Morgan Chase Commercial Mortgage Securities Trust 2018-AON0.308% 07/05/20310.0%
Morgan Stanley Bank of America Merrill Lynch Trust 2015-C230.676% 07/15/20500.0%
Freddie Mac Non Gold Pool6.144% 05/01/20360.0%
Freddie Mac Non Gold Pool6.357% 10/01/20380.0%
CD 2016-CD1 Mortgage Trust1.478% 08/10/20490.0%
LSTAR Commercial Mortgage Trust 2016-41.829% 03/10/20490.0%
Fannie Mae Pool7.185% 10/01/20400.0%
Wells Fargo Commercial Mortgage Trust 2015-C290.722% 06/15/20480.0%
Citigroup Commercial Mortgage Trust 2015-GC310.440% 06/10/20480.0%
WFRBS Commercial Mortgage Trust 2014-C210.644% 08/15/20470.0%
Fannie Mae Pool6.564% 08/01/20380.0%
Interest Rate Swap0.173% 10/21/20250.0%
GS Mortgage Securities Trust 2015-GS10.900% 11/10/20480.0%
Octane Receivables Trust 2021-10.930% 03/22/20270.0%
OneMain Financial Issuance Trust 2018-23.570% 03/14/20330.0%
Fannie Mae Pool6.580% 08/01/20370.0%
JPMBB Commercial Mortgage Securities Trust 2015-C290.675% 05/15/20480.0%
Fannie Mae Pool6.447% 03/01/20380.0%
JP Morgan Chase Commercial Mortgage Securities Trust 2014-DSTY0.503% 06/10/20270.0%
JPMBB Commercial Mortgage Securities Trust 2014-C240.951% 11/15/20470.0%
DBWF Mortgage Trust0.537% 06/10/20340.0%
Citigroup Commercial Mortgage Trust 2014-GC230.269% 07/10/20470.0%
COMM 2012-CCRE4 Mortgage Trust1.288% 10/15/20450.0%
JP Morgan Chase Commercial Mortgage Securities Trust 2014-DSTY0.160% 06/10/20270.0%
JP Morgan Chase Commercial Mortgage Securities Trust 2013-LC111.302% 04/15/20460.0%
OGX Austria GmbH8.500% 06/01/20180.0%
Government National Mortgage Association0.172% 01/16/20550.0%
Interest Rate Swap5.346% 10/21/20250.0%
CPI Swap0.010% 12/07/20310.0%
CPI Swap0.010% 07/26/20440.0%
CPI Swap0.010% 11/15/20510.0%
CPI Swap0.010% 07/18/20250.0%
CPI Swap0.010% 03/22/20320.0%
US 5YR NOTE (CBT) Dec240.000% 01/06/20250.0%
US 2YR NOTE (CBT) Dec240.000% 01/06/20250.0%
CPI Swap0.010% 05/08/20260.0%
CPI Swap0.010% 03/30/20320.0%
CPI Swap0.010% 10/28/2027-0.1%
CPI Swap0.010% 09/19/2028-0.1%
CPI Swap0.010% 03/31/2026-0.1%
CPI Swap0.010% 03/09/2052-0.2%
CPI Swap0.010% 12/08/2024-0.2%
CPI Swap0.010% 02/15/2033-0.2%
CPI Swap0.010% 10/01/2025-0.3%

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

Dividend Payments

For
YTD Dividends Paidas of 10/21/2024
$0.37346
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 09/30/2024 $0.04479 $11.73
Daily Daily 08/31/2024 $0.04453 $11.65
Daily Daily 07/31/2024 $0.04170 $11.62
Daily Daily 06/30/2024 $0.04341 $11.59
Daily Daily 05/31/2024 $0.04050 $11.58
Daily Daily 04/30/2024 $0.04129 $11.50
Daily Daily 03/31/2024 $0.04006 $11.56
Daily Daily 02/29/2024 $0.03721 $11.51
Daily Daily 01/31/2024 $0.03999 $11.56

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 10/31/2024
Daily Daily 11/30/2024
Daily Daily 12/31/2024

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 10/21/2024

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $11.94
$100,000 to $249,999 1.75% 1.50% $11.88
$250,000 to $499,999 1.25% 1.00% $11.82
Greater than $500,000 0.00% 1.00% $11.67

Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.

For Sales Charge Reductions and Waivers View Full Disclosure

SALES CHARGE REDUCTIONS AND WAIVERS

Please inform the fund company or your financial intermediary at the time of your purchase of fund shares if you believe you qualify for a reduced front-end sales charge.

Reducing Your Class A Share Front-End Sales Charge
You may purchase Class A shares at a discount if you qualify under the circumstances outlined below. To receive a reduced front-end sales charge, you must let the fund or your financial intermediary know at the time of your purchase of fund shares that you believe you qualify for a discount. If you or a related party have holdings of eligible funds (as defined below) in other accounts with your financial intermediary or with other financial intermediaries that may be combined with your current purchases in determining the sales charge as described below, you must inform a fund or your financial intermediary. You may be asked to provide supporting account statements or other information to allow us or your financial intermediary to verify your eligibility for a discount. If you or your financial intermediary do not notify a fund or provide the requested information, you may not receive the reduced sales charge for which you otherwise qualify. Class A shares may be purchased at a discount if you qualify under either of the following conditions:

  • Rights of Accumulation - A Purchaser (as defined below) may combine thevalue of Class A, A1, C, F, and P shares of any Eligible Fund currentlyowned with a new purchase of Class A shares of any Eligible Fund in orderto reduce the sales charge on the new purchase. Class F3, I, R2, R3, R4, R5,and R6 share holdings may not be combined for these purposes.To the extent that your financial intermediary is able to do so, the value ofClass A, A1, C, F, and P shares of Eligible Funds determined for the purposeof reducing the sales charge of a new purchase under the Rights ofAccumulation will be calculated at the higher of: (1) the aggregate currentmaximum offering price of your existing Class A, A1, C, F, and P shares ofEligible Funds; or (2) the aggregate amount you invested in such shares(including dividend reinvestments but excluding capital appreciation) less anyredemptions. You should retain any information and account recordsnecessary to substantiate the historical amounts you and any relatedPurchasers have invested in Eligible Funds. You must inform the Fund and/or your financial intermediary at the time of purchase if you believe yourpurchase qualifies for a reduced sales charge and you may be requested toprovide documentation of your holdings in order to verify your eligibility. Ifyou do not do so, you may not receive all sales charge reductions for whichyou are eligible.

  • Letter of Intention — In order to reduce your Class A front-end salescharge, a Purchaser may combine purchases of Class A, A1, C, F, and Pshares of any Eligible Fund the Purchaser intends to make over the next13 months in determining the applicable sales charge. The 13-month Letterof Intention period commences on the day that the Letter of Intention isreceived by the Fund, and the Purchaser must tell the Fund that laterpurchases are subject to the Letter of Intention. Purchases submitted prior tothe date the Letter of Intention is received by the Fund are not countedtoward the sales charge reduction. Current holdings under Rights ofAccumulation may be included in a Letter of Intention in order to reduce thesales charge for purchases during the 13-month period covered by the Letterof Intention. Shares purchased through reinvestment of dividends ordistributions are not included. Class F3, I, R2, R3, R4, R5, and R6 shareholdings may not be combined for these purposes. Class A and A1 shares valued at up to 5% of the amount of intended purchases are escrowed andmay be redeemed to cover the additional sales charges payable if the intendedpurchases under the Letter of Intention are not completed. The Letter ofIntention is neither a binding obligation on you to buy, nor on the Fund tosell, any or all of the intended purchase amount.

Purchaser — A Purchaser includes: (1) an individual; (2) an individual, his or her spouse, domestic partner, and childrenunder the age of 21; (3) retirement and benefit plansincluding a 401(k) plan, profit-sharing plan, moneypurchase plan, defined benefit plan, and 457(b) plan sponsored by a governmental entity, non-profitorganization, school district or church to which employer contributions are made, as well as SIMPLE IRAplans and SEP-IRA plans; or (4) a trustee or other fiduciary purchasing shares for a single trust, estate orsingle fiduciary account or a trust established by the individual as grantor. An individual may include underitem (1) his or her holdings in Eligible Funds as described below in IRAs, as a sole participant of aretirement and benefit plan sponsored by the individual’s business, and as a participant in a 403(b) plan towhich only pre-tax salary deferrals are made. An individual, his or her spouse, and domestic partner mayinclude under item (2) their holdings in IRAs, and as the sole participants in retirement and benefit planssponsored by a business owned by either or both of them. A retirement and benefit plan under item (3)includes all qualified retirement and benefit plans of a single employer and its consolidated subsidiaries,and all qualified retirement and benefit plans of multiple employers registered in the name of a singlebank trustee.

Eligible fund — An eligible fund is any Lord Abbett-sponsored fund except for (1) each portfolio of Lord Abbett Series Fund, Inc., (2) Lord Abbett U.S. Government & Government Sponsored Enterprises Money Market Fund, Inc. ("Money Market Fund") (except for holdings in Money Market Fund, which are attributable to any shares exchanged from the Lord Abbett-sponsored funds), and (3) any other fund the shares of which are not available to the investor at the time of the transaction due to a limitation on the offering of a fund's shares.

Front-end Sales Charge Waivers
Class A shares may be purchased without a front-end sales charge under any of the following conditions:

  • purchases of $1 million or more (may be subject to a CDSC);
  • purchases by retirement and benefit plans with at least 100 eligible employees (may be subject to a CDSC);
  • purchases for retirement and benefit plans made through financial intermediaries that perform participant recordkeeping or other administrative services for the plans and that have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases (may be subject to a CDSC);
  • purchases made by or on behalf of financial intermediaries for clients that pay the financial intermediaries fees in connection with fee-based advisory program, provided that the financial intermediaries or their trading agents have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases; and
  • certain other types of investors may qualify to purchase Class A share without a front-end sales charge as described in the Statement of Additional Information (SAI).

 

Expense Ratioas of 09/30/2024

Fund Gross Expense Ratio 0.73%
Fund Net Expense Ratio 0.73%
Adjusted Expense Ratio -

Fund Documents

Fund Documents

0Documents selected
Portfolio Holdings 1Q
Publish Date:11/03/2015
Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
Statutory Prospectus
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Financial Statements and Other Information *
Publish Date:11/03/2015
Semi-Annual Financial Statements and Other Information *
Publish Date:11/03/2015
Semi-Annual Tailored Shareholder Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015
* includes items 7-11 of form N-CSR as required, if any.

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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

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.

 

2

The 30-day Standardized Subsidized yields reflect fee waivers in effect. Without such fee waivers, yields would be reduced.  

 

3

The 30-day Standardized Unsubsidized yield does not reflect fee waivers.

 

IMPORTANT INFORMATION

 

A Note about Risk: Although the Fund invests in inflation-linked investments, there is no guarantee that the Fund will generate returns that exceed the rate of inflation in the U.S. over time. During periods of deflation or when inflation is lower than anticipated, the Fund is likely to underperform funds that hold fixed income securities similar to those held by the Fund but do not hold inflation-linked investments. The Fund may invest substantially in inflation-linked derivatives and other types of derivatives and is exposed to the risk that the value of a derivative instrument does not move in correlation to the value of an underlying securities, market index or interest rate, or moves in an opposite direction than anticipated by the Fund. Investing in derivatives also involves greater liquidity, leverage, and counterparty risk. Because derivatives may involve a small amount of cash relative to the total amount of the transaction, the magnitude of losses from derivatives may be greater than the amount originally invested by the Fund. In addition, the Fund must also be able to correctly forecast market movements and other factors to be successful with its derivatives investments. The Fund is subject to the general risks associated with investing in fixed income securities, including market, credit, liquidity, and interest rate risk. These factors can affect the Fund’s 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 A  Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

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.   

 

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.

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